- 毛利率代表著產品的競爭優勢, 要和同一個產業做比較. 如果毛利率很低的話, 就要看公司的營收規模是否夠大
- 毛利率從谷底回升, 或許就是開始反轉的訊號
- 營益率代表著公司的經營效率
- 在不大幅舉債的前提下, ROE可以看出公司的經營品質
- 穩定或持續提升的毛利率和營益率十分重要, 要當心持續下滑的毛利率和營益率
- 本業收入比高的公司, 才容易預估財測, 值得花心力去研究
- 無形資產佔總資產比高的公司, 可能代表這家公司是透過併購來成長. 但如果佔比高的不合理, 則要當心
- 併購後有沒有發揮1+1>2, 營益率是一個很好的觀察指標
- 要檢視ROE上升或下滑的原因, 根據杜邦分析不外乎是利潤率, 營收, 財務槓桿的增減
- 租賃業要觀察延滯率(在銀行稱為逾放比率)的變化. 如果越來越多客戶拖延還錢(延滯率上升), 就代表接下來放款的錢也會變少(放款率下降)
| EPS QoQ YoY | 營業毛利率 QoQ YoY | 營業利益率 QoQ YoY | 稅前淨利率 QoQ YoY | 稅後淨利率 QoQ YoY | 股東權益報酬率 QoQ YoY | 資產報酬率 QoQ YoY | 總資產周轉率 QoQ YoY | EBITDA利潤率 QoQ YoY | 財務槓桿 QoQ YoY | 本業收入比 QoQ YoY | 業外獲益比 QoQ YoY | 用人費用率 QoQ YoY | |||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 24Q3 (20) | -0.47 | 25.4 | -9.3 | 56.47 | -3.83 | 38.24 | -42.69 | 47.02 | 52.55 | -45.06 | 47.78 | 16.07 | -45.06 | 47.78 | 16.07 | -3.59 | 20.4 | -29.6 | -2.36 | 22.37 | -27.57 | 0.05 | 25.0 | 25.0 | -12.90 | 67.37 | 11.52 | 43.76 | -6.93 | 42.12 | 96.43 | 1.94 | -41.69 | 3.57 | -33.93 | 105.46 | 0.00 | -100.0 | -100.0 |
| 24Q2 (19) | -0.63 | -80.0 | 21.25 | 58.72 | 31.69 | 919.44 | -80.57 | 18.43 | 26.81 | -86.29 | -84.03 | 0.71 | -86.29 | -84.03 | 0.71 | -4.51 | -78.97 | 3.84 | -3.04 | -74.71 | 0.33 | 0.04 | 0.0 | 0.0 | -39.53 | -808.74 | 26.39 | 47.02 | 14.85 | -15.81 | 94.59 | -53.75 | -25.9 | 5.41 | 104.95 | 119.54 | 86.05 | -0.3 | 26.41 |
| 24Q1 (18) | -0.35 | 65.35 | 56.79 | 44.59 | 258.85 | 50.74 | -98.77 | 40.42 | -90.79 | -46.89 | 76.03 | 16.0 | -46.89 | 56.62 | 16.0 | -2.52 | 61.99 | 28.21 | -1.74 | 64.34 | 25.32 | 0.04 | -20.0 | 0.0 | -4.35 | 97.28 | 85.21 | 40.94 | 12.57 | -6.49 | 204.55 | 140.51 | 122.08 | -109.09 | -829.55 | -1481.82 | 86.31 | 30.85 | 59.07 |
| 23Q4 (17) | -1.01 | -134.88 | 11.4 | -28.07 | -168.71 | -723.78 | -165.79 | -84.27 | -156.96 | -195.62 | -264.35 | -165.82 | -108.08 | -101.3 | -81.68 | -6.63 | -139.35 | -47.33 | -4.88 | -163.78 | -73.67 | 0.05 | 25.0 | 0.0 | -160.00 | -997.39 | -223.82 | 36.37 | 18.12 | -22.76 | 85.05 | -48.58 | -2.58 | 14.95 | 122.87 | 17.76 | 65.96 | -11.85 | 63.84 |
| 23Q3 (16) | -0.43 | 46.25 | -153.75 | 40.85 | 609.2 | -45.15 | -89.97 | 18.27 | -494.61 | -53.69 | 38.22 | -224.17 | -53.69 | 38.22 | -252.83 | -2.77 | 40.94 | -192.33 | -1.85 | 39.34 | -191.58 | 0.04 | 0.0 | -33.33 | -14.58 | 72.85 | -123.78 | 30.79 | -44.87 | -51.52 | 165.38 | 29.55 | 216.99 | -65.38 | -136.39 | -236.71 | 74.83 | 9.93 | 87.78 |
| 23Q2 (15) | -0.80 | 1.23 | -124.39 | 5.76 | -80.53 | -91.89 | -110.08 | -112.63 | -325.39 | -86.91 | -55.7 | -269.05 | -86.91 | -55.7 | -311.61 | -4.69 | -33.62 | -144.41 | -3.05 | -30.9 | -142.66 | 0.04 | 0.0 | -76.47 | -53.70 | -82.59 | -196.36 | 55.85 | 27.57 | 20.94 | 127.66 | 38.6 | 34.12 | -27.66 | -450.35 | -673.94 | 68.07 | 25.45 | 348.71 |
| 23Q1 (14) | -0.81 | 28.95 | -133.89 | 29.58 | 557.33 | -60.8 | -51.77 | 19.76 | -206.7 | -55.82 | 24.15 | -206.79 | -55.82 | 6.17 | -233.89 | -3.51 | 22.0 | -140.72 | -2.33 | 17.08 | -141.02 | 0.04 | -20.0 | -69.23 | -29.41 | 40.48 | -148.88 | 43.78 | -7.03 | -16.69 | 92.11 | 5.5 | -0.62 | 7.89 | -37.83 | 7.89 | 54.26 | 34.77 | 183.19 |
| 22Q4 (13) | -1.14 | -242.5 | -175.0 | 4.50 | -93.96 | -93.55 | -64.52 | -382.98 | -266.2 | -73.59 | -270.19 | -292.19 | -59.49 | -269.34 | -321.73 | -4.50 | -250.0 | -179.93 | -2.81 | -239.11 | -178.93 | 0.05 | -16.67 | -61.54 | -49.41 | -180.58 | -207.53 | 47.09 | -25.85 | -14.09 | 87.30 | 67.33 | -13.71 | 12.70 | -73.45 | 1179.37 | 40.26 | 1.03 | 93.93 |
| 22Q3 (12) | 0.80 | -75.61 | -69.7 | 74.48 | 4.87 | 7.72 | 22.80 | -53.32 | -53.68 | 43.24 | -15.89 | -11.08 | 35.13 | -14.46 | -9.44 | 3.00 | -71.59 | -71.46 | 2.02 | -71.75 | -71.02 | 0.06 | -64.71 | -66.67 | 61.32 | 10.03 | 11.57 | 63.51 | 37.53 | -8.29 | 52.17 | -45.18 | -48.58 | 47.83 | 892.39 | 3376.09 | 39.85 | 162.69 | 148.91 |
| 22Q2 (11) | 3.28 | 37.24 | 21.48 | 71.02 | -5.88 | -8.83 | 48.84 | 0.66 | -3.46 | 51.41 | -1.65 | 9.24 | 41.07 | -1.49 | 4.56 | 10.56 | 22.51 | -2.13 | 7.15 | 25.88 | -9.03 | 0.17 | 30.77 | -15.0 | 55.73 | -7.38 | 6.82 | 46.18 | -12.12 | 22.79 | 95.18 | 2.69 | -10.98 | 4.82 | -34.14 | 162.65 | 15.17 | -20.82 | -6.01 |
| 22Q1 (10) | 2.39 | 57.24 | 4.37 | 75.46 | 8.2 | -3.86 | 48.52 | 24.99 | -4.32 | 52.27 | 36.51 | 3.4 | 41.69 | 55.39 | 3.94 | 8.62 | 53.11 | -16.47 | 5.68 | 59.55 | -22.62 | 0.13 | 0.0 | -27.78 | 60.17 | 30.95 | 3.85 | 52.55 | -4.12 | 33.0 | 92.68 | -8.39 | -7.32 | 7.32 | 721.95 | 0 | 19.16 | -7.71 | 12.24 |
| 21Q4 (9) | 1.52 | -42.42 | -32.14 | 69.74 | 0.87 | 2.82 | 38.82 | -21.13 | -10.24 | 38.29 | -21.26 | -2.0 | 26.83 | -30.83 | -6.19 | 5.63 | -46.43 | -43.59 | 3.56 | -48.92 | -49.58 | 0.13 | -27.78 | -45.83 | 45.95 | -16.39 | -1.54 | 54.81 | -20.85 | 22.84 | 101.18 | -0.28 | -8.69 | -1.18 | 19.41 | 89.12 | 20.76 | 29.67 | 32.74 |
| 21Q3 (8) | 2.64 | -2.22 | 57.14 | 69.14 | -11.25 | -13.17 | 49.22 | -2.71 | 10.48 | 48.63 | 3.34 | 12.8 | 38.79 | -1.25 | 4.19 | 10.51 | -2.59 | 12.05 | 6.97 | -11.32 | 4.19 | 0.18 | -10.0 | 0.0 | 54.96 | 5.35 | 9.92 | 69.25 | 84.13 | 69.03 | 101.46 | -5.11 | -2.21 | -1.46 | 81.02 | 61.07 | 16.01 | -0.81 | -30.81 |
| 21Q2 (7) | 2.70 | 17.9 | 29.19 | 77.90 | -0.75 | 1.58 | 50.59 | -0.24 | 3.77 | 47.06 | -6.9 | 0.15 | 39.28 | -2.07 | 9.97 | 10.79 | 4.55 | -22.71 | 7.86 | 7.08 | -21.95 | 0.20 | 11.11 | -28.57 | 52.17 | -9.96 | 1.58 | 37.61 | -4.81 | -12.76 | 106.92 | 6.92 | 3.5 | -7.69 | 0 | -86.15 | 16.14 | -5.45 | 0 |
| 21Q1 (6) | 2.29 | 2.23 | 593.94 | 78.49 | 15.72 | 4.49 | 50.71 | 17.25 | 173.07 | 50.55 | 29.38 | 145.15 | 40.11 | 40.24 | 144.57 | 10.32 | 3.41 | 194.02 | 7.34 | 3.97 | 168.86 | 0.18 | -25.0 | 12.5 | 57.94 | 24.15 | 107.6 | 39.51 | -11.45 | 10.49 | 100.00 | -9.76 | 12.5 | 0.00 | 100.0 | -100.0 | 17.07 | 9.14 | 0 |
| 20Q4 (5) | 2.24 | 33.33 | 474.36 | 67.83 | -14.82 | -3.6 | 43.25 | -2.92 | 33.9 | 39.07 | -9.37 | 32.13 | 28.60 | -23.18 | 50.21 | 9.98 | 6.4 | 148.26 | 7.06 | 5.53 | 117.9 | 0.24 | 33.33 | 41.18 | 46.67 | -6.66 | 30.47 | 44.62 | 8.91 | 57.67 | 110.81 | 6.81 | -0.27 | -10.81 | -188.29 | -29.73 | 15.64 | -32.41 | -20.2 |
| 20Q3 (4) | 1.68 | -19.62 | 0.0 | 79.63 | 3.83 | 0.0 | 44.55 | -8.62 | 0.0 | 43.11 | -8.26 | 0.0 | 37.23 | 4.23 | 0.0 | 9.38 | -32.81 | 0.0 | 6.69 | -33.57 | 0.0 | 0.18 | -35.71 | 0.0 | 50.00 | -2.65 | 0.0 | 40.97 | -4.96 | 0.0 | 103.75 | 0.43 | 0.0 | -3.75 | 9.25 | 0.0 | 23.14 | 0 | 0.0 |
| 20Q2 (3) | 2.09 | 533.33 | 0.0 | 76.69 | 2.09 | 0.0 | 48.75 | 162.52 | 0.0 | 46.99 | 127.89 | 0.0 | 35.72 | 117.8 | 0.0 | 13.96 | 297.72 | 0.0 | 10.07 | 268.86 | 0.0 | 0.28 | 75.0 | 0.0 | 51.36 | 84.02 | 0.0 | 43.11 | 20.55 | 0.0 | 103.31 | 16.22 | 0.0 | -4.13 | -137.19 | 0.0 | 0.00 | 0 | 0.0 |
| 20Q1 (2) | 0.33 | -15.38 | 0.0 | 75.12 | 6.77 | 0.0 | 18.57 | -42.51 | 0.0 | 20.62 | -30.27 | 0.0 | 16.40 | -13.87 | 0.0 | 3.51 | -12.69 | 0.0 | 2.73 | -15.74 | 0.0 | 0.16 | -5.88 | 0.0 | 27.91 | -21.97 | 0.0 | 35.76 | 26.36 | 0.0 | 88.89 | -20.0 | 0.0 | 11.11 | 233.33 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q4 (1) | 0.39 | 0.0 | 0.0 | 70.36 | 0.0 | 0.0 | 32.30 | 0.0 | 0.0 | 29.57 | 0.0 | 0.0 | 19.04 | 0.0 | 0.0 | 4.02 | 0.0 | 0.0 | 3.24 | 0.0 | 0.0 | 0.17 | 0.0 | 0.0 | 35.77 | 0.0 | 0.0 | 28.30 | 0.0 | 0.0 | 111.11 | 0.0 | 0.0 | -8.33 | 0.0 | 0.0 | 19.60 | 0.0 | 0.0 |
| EPS YoY | 營業毛利率 YoY | 營業利益率 YoY | 折舊負擔比率 YoY | 稅前淨利率 YoY | 稅後淨利率 YoY | 股東權益報酬率 YoY | 資產報酬率 YoY | 總資產周轉率 YoY | EBITDA利潤率 YoY | 財務槓桿 YoY | 本業收入比 YoY | 業外獲益比 YoY | 無形資產佔總資產比 YoY | 用人費用率 YoY | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2023 (10) | -2.89 | 0 | 12.23 | -81.28 | -101.70 | 0 | 29.33 | 249.21 | -96.84 | 0 | -75.56 | 0 | -17.34 | 0 | -11.85 | 0 | 0.16 | -64.44 | -64.00 | 0 | 36.37 | -22.76 | 105.05 | 18.56 | -5.05 | 0 | 1.02 | 83.9 | 64.82 | 184.8 |
| 2022 (9) | 4.82 | -46.5 | 65.34 | -11.48 | 32.18 | -32.48 | 8.40 | 46.57 | 36.32 | -21.69 | 29.00 | -20.79 | 19.86 | -47.85 | 13.48 | -47.49 | 0.45 | -34.78 | 45.87 | -13.39 | 47.09 | -14.09 | 88.60 | -13.79 | 11.40 | 0 | 0.55 | -6.56 | 22.76 | 31.33 |
| 2021 (8) | 9.01 | 42.11 | 73.81 | -0.45 | 47.66 | 14.93 | 5.73 | -1.77 | 46.38 | 17.27 | 36.61 | 18.98 | 38.08 | 4.73 | 25.67 | -3.71 | 0.69 | -19.77 | 52.96 | 14.91 | 54.81 | 22.84 | 102.77 | -1.86 | -2.77 | 0 | 0.59 | -18.12 | 17.33 | -8.89 |
| 2020 (7) | 6.34 | 217.0 | 74.14 | -10.21 | 41.47 | 35.52 | 5.83 | -11.03 | 39.55 | 37.14 | 30.77 | 20.2 | 36.36 | 75.57 | 26.66 | 100.0 | 0.86 | 72.0 | 46.09 | 24.03 | 44.62 | 57.67 | 104.72 | -1.83 | -4.72 | 0 | 0.73 | -31.01 | 19.02 | -32.7 |
| 2019 (6) | 2.00 | 140.96 | 82.57 | 3.61 | 30.60 | 404.12 | 6.56 | 2.19 | 28.84 | 87.52 | 25.60 | 61.31 | 20.71 | 95.56 | 13.33 | 146.4 | 0.50 | 72.41 | 37.16 | 38.97 | 28.30 | -76.99 | 106.67 | 181.21 | -5.71 | 0 | 1.05 | -8.8 | 28.26 | -32.57 |
| 2018 (5) | 0.83 | 0 | 79.69 | -1.25 | 6.07 | 0 | 6.42 | -28.95 | 15.38 | 0 | 15.87 | 0 | 10.59 | 0 | 5.41 | 0 | 0.29 | 7.41 | 26.74 | 0 | 122.99 | -12.48 | 37.93 | -18.72 | 58.62 | 9.91 | 1.15 | 0 | 41.91 | -25.86 |
| 2017 (4) | -1.40 | 0 | 80.70 | -0.05 | -13.78 | 0 | 9.03 | -9.68 | -29.18 | 0 | -30.97 | 0 | -17.30 | 0 | -7.55 | 0 | 0.27 | -3.57 | -15.48 | 0 | 140.53 | 72.79 | 46.67 | -32.59 | 53.33 | 73.33 | 0.00 | 0 | 56.53 | -0.07 |
| 2016 (3) | -1.13 | 0 | 80.74 | 2.32 | -17.75 | 0 | 10.00 | -12.35 | -25.79 | 0 | -25.73 | 0 | -12.00 | 0 | -6.70 | 0 | 0.28 | 0.0 | -10.67 | 0 | 81.33 | 60.0 | 69.23 | -35.9 | 30.77 | 0 | 0.00 | 0 | 56.57 | 9.57 |
| 2015 (2) | -0.72 | 0 | 78.91 | -1.65 | -18.07 | 0 | 11.41 | -10.07 | -16.52 | 0 | -16.64 | 0 | -7.07 | 0 | -4.16 | 0 | 0.28 | 7.69 | 0.67 | 0 | 50.83 | -4.9 | 108.00 | 0.29 | -8.00 | 0 | 0.00 | 0 | 51.63 | -0.94 |
| 2014 (1) | -0.96 | 0 | 80.23 | 0 | -31.62 | 0 | 12.69 | -28.36 | -29.03 | 0 | -22.77 | 0 | -10.36 | 0 | -5.17 | 0 | 0.26 | 36.84 | -10.45 | 0 | 53.45 | -52.98 | 107.69 | 28.12 | -7.69 | 0 | 0.00 | 0 | 52.12 | -18.52 |
