- 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 | |||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 22Q1 (20) | -0.03 | 88.0 | -105.36 | 19.19 | 79.68 | -13.75 | 2.06 | 120.16 | -64.48 | -0.62 | 84.3 | -106.36 | -0.38 | 91.24 | -103.69 | -0.13 | 88.29 | -104.98 | -0.05 | 93.59 | -102.54 | 0.21 | 16.67 | 10.53 | 5.06 | 67.0 | -68.63 | 67.51 | 49.23 | 91.63 | -250.00 | -200.0 | -509.09 | 350.00 | 333.33 | 800.0 | 0.00 | -100.0 | 0 |
| 21Q4 (19) | -0.25 | -400.0 | 64.79 | 10.68 | -44.43 | 192.6 | -10.22 | -139.91 | 52.97 | -3.95 | -426.67 | 79.81 | -4.34 | -393.18 | 78.47 | -1.11 | -428.57 | 66.36 | -0.78 | -457.14 | 68.8 | 0.18 | 0.0 | 50.0 | 3.03 | -48.47 | 130.54 | 45.24 | 29.33 | 43.07 | 250.00 | -68.75 | 130.77 | -150.00 | 78.57 | -1100.0 | 20.08 | 0 | 0 |
| 21Q3 (18) | -0.05 | -104.39 | 44.44 | 19.22 | -27.77 | 70.09 | -4.26 | -138.9 | -3.65 | -0.75 | -104.36 | 64.79 | -0.88 | -105.08 | 50.56 | -0.21 | -104.09 | 46.15 | -0.14 | -103.67 | 48.15 | 0.18 | -18.18 | 12.5 | 5.88 | -74.29 | 20.49 | 34.98 | -2.59 | 15.87 | 800.00 | 1166.67 | 242.86 | -700.00 | -2000.0 | -600.0 | 0.00 | 0 | -100.0 |
| 21Q2 (17) | 1.14 | 103.57 | 1136.36 | 26.61 | 19.6 | 105.17 | 10.95 | 88.79 | 456.68 | 17.19 | 76.31 | 656.31 | 17.32 | 67.99 | 856.33 | 5.14 | 96.93 | 1107.84 | 3.81 | 93.4 | 1129.73 | 0.22 | 15.79 | 29.41 | 22.87 | 41.79 | 540.62 | 35.91 | 1.93 | -2.02 | 63.16 | 3.35 | -36.84 | 36.84 | -5.26 | 0 | 0.00 | 0 | 0 |
| 21Q1 (16) | 0.56 | 178.87 | 269.7 | 22.25 | 509.59 | 52.92 | 5.80 | 126.69 | 685.86 | 9.75 | 149.85 | 1171.43 | 10.31 | 151.14 | 257.89 | 2.61 | 179.09 | 274.0 | 1.97 | 178.8 | 268.38 | 0.19 | 58.33 | 5.56 | 16.13 | 262.6 | 215.66 | 35.23 | 11.42 | 33.5 | 61.11 | -43.59 | -38.89 | 38.89 | 411.11 | 0 | 0.00 | 0 | 0 |
| 20Q4 (15) | -0.71 | -688.89 | 6.58 | 3.65 | -67.7 | 380.26 | -21.73 | -428.71 | 1.9 | -19.56 | -818.31 | 5.0 | -20.16 | -1032.58 | 3.82 | -3.30 | -746.15 | 1.2 | -2.50 | -825.93 | 3.1 | 0.12 | -25.0 | 0.0 | -9.92 | -303.28 | 11.43 | 31.62 | 4.74 | 9.72 | 108.33 | -53.57 | 0.6 | -12.50 | 87.5 | -62.5 | 0.00 | -100.0 | -100.0 |
| 20Q3 (14) | -0.09 | 18.18 | 95.03 | 11.30 | -12.88 | 136.69 | -4.11 | -33.88 | 90.89 | -2.13 | 31.07 | 95.18 | -1.78 | 22.27 | 95.97 | -0.39 | 23.53 | 94.81 | -0.27 | 27.03 | 95.38 | 0.16 | -5.88 | 23.08 | 4.88 | 36.69 | 113.49 | 30.19 | -17.63 | 3.78 | 233.33 | 133.33 | 129.63 | -100.00 | 0 | -6100.0 | 21.03 | 0 | -5.01 |
| 20Q2 (13) | -0.11 | 66.67 | 78.85 | 12.97 | -10.86 | 54.04 | -3.07 | -210.1 | 47.97 | -3.09 | -239.56 | 66.77 | -2.29 | 64.93 | 76.34 | -0.51 | 66.0 | 75.24 | -0.37 | 68.38 | 75.97 | 0.17 | -5.56 | 6.25 | 3.57 | -30.14 | 232.22 | 36.65 | 38.88 | 34.4 | 100.00 | 0.0 | 54.55 | 0.00 | 0 | -100.0 | 0.00 | 0 | -100.0 |
| 20Q1 (12) | -0.33 | 56.58 | 80.12 | 14.55 | 1814.47 | 181.83 | -0.99 | 95.53 | 97.01 | -0.91 | 95.58 | 97.18 | -6.53 | 68.85 | 79.61 | -1.50 | 55.09 | 76.19 | -1.17 | 54.65 | 74.95 | 0.18 | 50.0 | 20.0 | 5.11 | 145.62 | 120.21 | 26.39 | -8.43 | -26.49 | 100.00 | -7.14 | -3.39 | -0.00 | 100.0 | 100.0 | 0.00 | -100.0 | -100.0 |
| 19Q4 (11) | -0.76 | 58.01 | 44.53 | 0.76 | 102.47 | 103.91 | -22.15 | 50.89 | 42.71 | -20.59 | 53.37 | 37.0 | -20.96 | 52.54 | 33.57 | -3.34 | 55.53 | 32.25 | -2.58 | 55.9 | 31.93 | 0.12 | -7.69 | 0.0 | -11.20 | 69.04 | 53.64 | 28.82 | -0.93 | -10.88 | 107.69 | 5.98 | -9.02 | -7.69 | -376.92 | 58.12 | 29.49 | 33.2 | 38.26 |
| 19Q3 (10) | -1.81 | -248.08 | -648.48 | -30.80 | -465.8 | -324.16 | -45.10 | -664.41 | -714.08 | -44.16 | -374.84 | -618.31 | -44.16 | -356.2 | -688.02 | -7.51 | -264.56 | -736.44 | -5.85 | -279.87 | -722.34 | 0.13 | -18.75 | 8.33 | -36.17 | -1239.63 | -304.93 | 29.09 | 6.67 | 11.97 | 101.61 | 57.04 | 265.12 | -1.61 | -104.57 | -100.95 | 22.14 | 16.22 | -14.91 |
| 19Q2 (9) | -0.52 | 68.67 | -405.88 | 8.42 | 147.36 | -51.07 | -5.90 | 82.21 | -301.37 | -9.30 | 71.16 | -357.62 | -9.68 | 69.77 | -487.2 | -2.06 | 67.3 | -443.33 | -1.54 | 67.02 | -420.83 | 0.16 | 6.67 | -11.11 | -2.70 | 89.32 | -128.48 | 27.27 | -24.04 | -11.8 | 64.71 | -37.49 | -26.05 | 35.29 | 1105.88 | 41.18 | 19.05 | -8.41 | 0.53 |
| 19Q1 (8) | -1.66 | -21.17 | -2471.43 | -17.78 | 8.63 | -206.34 | -33.16 | 14.23 | -2468.57 | -32.25 | 1.32 | -1797.37 | -32.02 | -1.49 | -2958.93 | -6.30 | -27.79 | -2725.0 | -4.67 | -23.22 | -2323.81 | 0.15 | 25.0 | -11.76 | -25.28 | -4.64 | -392.25 | 35.90 | 11.01 | 19.47 | 103.51 | -12.55 | 38.01 | -3.51 | 80.9 | -114.04 | 20.80 | -2.48 | -8.09 |
| 18Q4 (7) | -1.37 | -515.15 | 0 | -19.46 | -241.63 | 0 | -38.66 | -597.83 | 0 | -32.68 | -483.57 | 0 | -31.55 | -520.11 | 0 | -4.93 | -517.8 | 0 | -3.79 | -503.19 | 0 | 0.12 | 0.0 | 0 | -24.16 | -236.88 | 0 | 32.34 | 24.48 | 0 | 118.37 | 292.35 | 0 | -18.37 | -110.85 | 0 | 21.33 | -18.02 | 0 |
| 18Q3 (6) | 0.33 | 94.12 | 0 | 13.74 | -20.16 | 0 | -5.54 | -289.08 | 0 | 8.52 | 136.01 | 0 | 7.51 | 200.4 | 0 | 1.18 | 96.67 | 0 | 0.94 | 95.83 | 0 | 0.12 | -33.33 | 0 | 17.65 | 86.18 | 0 | 25.98 | -15.98 | 0 | -61.54 | -170.33 | 0 | 169.23 | 576.92 | 0 | 26.02 | 37.31 | 0 |
| 18Q2 (5) | 0.17 | 142.86 | 0 | 17.21 | 2.93 | 0 | 2.93 | 109.29 | 0 | 3.61 | 90.0 | 0 | 2.50 | 123.21 | 0 | 0.60 | 150.0 | 0 | 0.48 | 128.57 | 0 | 0.18 | 5.88 | 0 | 9.48 | 9.6 | 0 | 30.92 | 2.9 | 0 | 87.50 | 16.67 | 0 | 25.00 | 0.0 | 0 | 18.95 | -16.26 | 0 |
| 18Q1 (4) | 0.07 | 0 | 0.0 | 16.72 | 0 | 0.0 | 1.40 | 0 | 0.0 | 1.90 | 0 | 0.0 | 1.12 | 0 | 0.0 | 0.24 | 0 | 0.0 | 0.21 | 0 | 0.0 | 0.17 | 0 | 0.0 | 8.65 | 0 | 0.0 | 30.05 | 0 | 0.0 | 75.00 | 0 | 0.0 | 25.00 | 0 | 0.0 | 22.63 | 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 | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2021 (10) | 1.39 | 0 | 19.87 | 77.73 | 0.88 | 0 | 6.17 | -11.78 | 5.95 | 0 | 5.99 | 0 | 6.36 | 0 | 4.66 | 0 | 0.77 | 18.46 | 12.22 | 539.79 | 45.24 | 43.07 | 14.89 | -87.34 | 85.11 | 0 | 0.09 | -14.08 | 21.84 | 0 |
| 2020 (9) | -1.24 | 0 | 11.18 | 0 | -6.35 | 0 | 7.00 | -6.53 | -5.40 | 0 | -6.78 | 0 | -5.70 | 0 | -4.30 | 0 | 0.65 | 16.07 | 1.91 | 0 | 31.62 | 9.72 | 117.65 | 18.38 | -17.65 | 0 | 0.10 | 3.55 | 0.00 | 0 |
| 2019 (8) | -4.75 | 0 | -9.30 | 0 | -25.62 | 0 | 7.48 | 4.78 | -25.84 | 0 | -25.97 | 0 | -19.18 | 0 | -14.60 | 0 | 0.56 | -6.67 | -18.15 | 0 | 28.82 | -10.88 | 99.38 | -59.18 | 0.62 | 0 | 0.10 | 24.19 | 22.31 | 1.78 |
| 2018 (7) | -0.80 | 0 | 8.99 | 43.38 | -7.61 | 0 | 7.14 | -7.14 | -3.15 | 0 | -3.70 | 0 | -2.90 | 0 | -2.12 | 0 | 0.60 | -1.64 | 4.31 | 0 | 32.34 | 8.23 | 243.48 | 119.81 | -143.48 | 0 | 0.08 | 0 | 21.92 | -7.24 |
| 2017 (6) | -1.89 | 0 | 6.27 | -57.81 | -9.26 | 0 | 7.69 | 12.16 | -8.34 | 0 | -8.33 | 0 | -6.50 | 0 | -4.96 | 0 | 0.61 | -8.96 | -0.13 | 0 | 29.88 | 10.54 | 110.77 | -51.84 | -10.77 | 0 | 0.00 | 0 | 23.63 | 6.73 |
| 2016 (5) | 0.24 | -45.45 | 14.86 | -21.5 | 2.56 | -59.75 | 6.86 | 11.25 | 1.09 | -43.23 | 0.93 | -40.76 | 0.80 | -44.06 | 0.73 | -39.67 | 0.67 | -2.9 | 8.30 | -1.89 | 27.03 | -10.91 | 230.00 | -32.13 | -130.00 | 0 | 0.00 | 0 | 22.14 | 2.93 |
| 2015 (4) | 0.44 | -25.42 | 18.93 | 53.28 | 6.36 | 269.77 | 6.17 | 24.17 | 1.92 | -10.7 | 1.57 | -11.8 | 1.43 | -26.29 | 1.21 | -25.31 | 0.69 | -18.82 | 8.46 | 11.61 | 30.34 | -12.31 | 338.89 | 323.61 | -238.89 | 0 | 0.00 | 0 | 21.51 | 13.87 |
| 2014 (3) | 0.59 | -33.71 | 12.35 | -17.56 | 1.72 | -59.62 | 4.97 | -22.05 | 2.15 | -50.69 | 1.78 | -45.06 | 1.94 | -33.79 | 1.62 | -33.33 | 0.85 | 16.44 | 7.58 | -31.34 | 34.60 | 44.71 | 80.00 | -18.0 | 20.00 | 720.0 | 0.00 | 0 | 18.89 | -8.3 |
| 2013 (2) | 0.89 | -20.54 | 14.98 | -13.86 | 4.26 | -14.46 | 6.37 | -5.65 | 4.36 | -15.67 | 3.24 | -26.2 | 2.93 | -18.38 | 2.43 | -17.91 | 0.73 | 12.31 | 11.04 | -9.8 | 23.91 | -2.41 | 97.56 | -0.22 | 2.44 | -45.12 | 0.00 | 0 | 20.60 | 6.51 |
| 2012 (1) | 1.12 | 0 | 17.39 | 0 | 4.98 | 0 | 6.75 | 0 | 5.17 | 0 | 4.39 | 0 | 3.59 | 0 | 2.96 | 0 | 0.65 | 0 | 12.24 | 0 | 24.50 | 0 | 97.78 | 0 | 4.44 | 0 | 0.00 | 0 | 19.34 | 0 |
