- 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) | 0.38 | -22.45 | 375.0 | 10.53 | -17.22 | 23.74 | 6.05 | -21.33 | 83.33 | 9.31 | -26.05 | 255.34 | 8.16 | -29.78 | 281.31 | 1.96 | -24.03 | 345.45 | 1.27 | -21.12 | 217.5 | 0.14 | 7.69 | 16.67 | 14.24 | -20.13 | 72.19 | 76.76 | 4.25 | 5.67 | 65.52 | 7.21 | -49.04 | 34.48 | -11.33 | 220.69 | 0.00 | -100.0 | -100.0 |
| 24Q2 (19) | 0.49 | -3.92 | 345.45 | 12.72 | 40.4 | 62.24 | 7.69 | 153.8 | 302.62 | 12.59 | -16.46 | 171.34 | 11.62 | -20.9 | 239.77 | 2.58 | -3.73 | 369.09 | 1.61 | -4.73 | 250.0 | 0.13 | 18.18 | 30.0 | 17.83 | -17.83 | 65.71 | 73.63 | -2.59 | -0.38 | 61.11 | 205.56 | 52.78 | 38.89 | -51.39 | -35.19 | 10.48 | -17.48 | -17.42 |
| 24Q1 (18) | 0.51 | 64.52 | 218.75 | 9.06 | 11.3 | -18.89 | 3.03 | 103.36 | -48.29 | 15.07 | 74.62 | 183.8 | 14.69 | 73.85 | 244.03 | 2.68 | 65.43 | 257.33 | 1.69 | 55.05 | 181.67 | 0.11 | 0.0 | -8.33 | 21.70 | 49.45 | 115.28 | 75.59 | 8.37 | 48.95 | 20.00 | 5.0 | -81.33 | 80.00 | -6.67 | 1220.0 | 12.70 | 24.88 | 2.17 |
| 23Q4 (17) | 0.31 | 287.5 | -46.55 | 8.14 | -4.35 | -56.66 | 1.49 | -54.85 | -88.72 | 8.63 | 229.39 | -38.53 | 8.45 | 294.86 | -31.19 | 1.62 | 268.18 | -40.88 | 1.09 | 172.5 | -40.44 | 0.11 | -8.33 | -21.43 | 14.52 | 75.57 | -17.97 | 69.75 | -3.98 | 28.24 | 19.05 | -85.19 | -80.07 | 85.71 | 400.0 | 1185.71 | 10.17 | -6.09 | -3.97 |
| 23Q3 (16) | 0.08 | -27.27 | -88.24 | 8.51 | 8.55 | -54.71 | 3.30 | 72.77 | -76.63 | 2.62 | -43.53 | -81.86 | 2.14 | -37.43 | -81.66 | 0.44 | -20.0 | -86.71 | 0.40 | -13.04 | -81.22 | 0.12 | 20.0 | -29.41 | 8.27 | -23.14 | -52.53 | 72.64 | -1.72 | 16.08 | 128.57 | 221.43 | 30.87 | -28.57 | -147.62 | -1728.57 | 10.83 | -14.66 | 17.59 |
| 23Q2 (15) | 0.11 | -31.25 | -85.14 | 7.84 | -29.81 | -65.78 | 1.91 | -67.41 | -89.45 | 4.64 | -12.62 | -72.35 | 3.42 | -19.91 | -74.36 | 0.55 | -26.67 | -83.82 | 0.46 | -23.33 | -79.65 | 0.10 | -16.67 | -37.5 | 10.76 | 6.75 | -47.31 | 73.91 | 45.64 | 16.78 | 40.00 | -62.67 | -62.94 | 60.00 | 940.0 | 856.0 | 12.69 | 2.09 | 29.09 |
| 23Q1 (14) | 0.16 | -72.41 | -82.02 | 11.17 | -40.52 | -52.63 | 5.86 | -55.64 | -68.91 | 5.31 | -62.18 | -70.98 | 4.27 | -65.23 | -70.41 | 0.75 | -72.63 | -80.52 | 0.60 | -67.21 | -77.94 | 0.12 | -14.29 | -33.33 | 10.08 | -43.05 | -53.4 | 50.75 | -6.69 | 3.38 | 107.14 | 12.13 | 4.4 | -7.14 | -207.14 | -171.43 | 12.43 | 17.37 | 27.62 |
| 22Q4 (13) | 0.58 | -14.71 | -50.43 | 18.78 | -0.05 | -19.91 | 13.21 | -6.44 | -25.74 | 14.04 | -2.77 | -23.78 | 12.28 | 5.23 | -17.47 | 2.74 | -17.22 | -49.07 | 1.83 | -14.08 | -48.88 | 0.14 | -17.65 | -41.67 | 17.70 | 1.61 | -17.02 | 54.39 | -13.09 | 34.2 | 95.56 | -2.74 | -1.11 | 6.67 | 280.0 | 97.78 | 10.59 | 14.98 | 22.85 |
| 22Q3 (12) | 0.68 | -8.11 | -53.1 | 18.79 | -17.98 | -23.43 | 14.12 | -21.99 | -32.08 | 14.44 | -13.95 | -31.47 | 11.67 | -12.52 | -32.35 | 3.31 | -2.65 | -58.1 | 2.13 | -5.75 | -53.49 | 0.17 | 6.25 | -34.62 | 17.42 | -14.69 | -27.45 | 62.58 | -1.12 | -10.8 | 98.25 | -8.98 | -0.82 | 1.75 | 122.11 | 85.96 | 9.21 | -6.31 | 20.39 |
| 22Q2 (11) | 0.74 | -16.85 | -47.89 | 22.91 | -2.84 | -11.99 | 18.10 | -3.98 | -16.44 | 16.78 | -8.31 | -25.69 | 13.34 | -7.55 | -28.85 | 3.40 | -11.69 | -59.23 | 2.26 | -16.91 | -50.76 | 0.16 | -11.11 | -33.33 | 20.42 | -5.59 | -20.42 | 63.29 | 28.93 | -22.66 | 107.94 | 5.17 | 12.3 | -7.94 | -201.59 | -304.37 | 9.83 | 0.92 | 9.96 |
| 22Q1 (10) | 0.89 | -23.93 | -42.58 | 23.58 | 0.55 | -5.49 | 18.85 | 5.96 | -6.54 | 18.30 | -0.65 | -15.71 | 14.43 | -3.02 | -18.84 | 3.85 | -28.44 | -45.0 | 2.72 | -24.02 | -26.29 | 0.18 | -25.0 | -10.0 | 21.63 | 1.41 | -15.93 | 49.09 | 21.12 | -45.76 | 102.63 | 6.21 | 10.73 | -2.63 | -178.07 | -135.96 | 9.74 | 12.99 | -0.71 |
| 21Q4 (9) | 1.17 | -19.31 | -5.65 | 23.45 | -4.44 | 9.99 | 17.79 | -14.43 | 13.75 | 18.42 | -12.58 | 7.22 | 14.88 | -13.74 | 3.48 | 5.38 | -31.9 | -9.43 | 3.58 | -21.83 | 18.54 | 0.24 | -7.69 | 20.0 | 21.33 | -11.16 | 0.19 | 40.53 | -42.23 | -60.41 | 96.63 | -2.45 | 6.63 | 3.37 | 257.3 | -64.04 | 8.62 | 12.68 | -5.48 |
| 21Q3 (8) | 1.45 | 2.11 | 70.59 | 24.54 | -5.72 | 32.51 | 20.79 | -4.02 | 35.35 | 21.07 | -6.69 | 33.02 | 17.25 | -8.0 | 41.74 | 7.90 | -5.28 | 82.87 | 4.58 | -0.22 | 115.02 | 0.26 | 8.33 | 62.5 | 24.01 | -6.43 | 15.1 | 70.16 | -14.26 | -36.59 | 99.06 | 3.06 | 3.36 | 0.94 | -75.71 | -54.72 | 7.65 | -14.43 | -15.66 |
| 21Q2 (7) | 1.42 | -8.39 | 162.96 | 26.03 | 4.33 | 121.91 | 21.66 | 7.39 | 228.68 | 22.58 | 4.01 | 89.27 | 18.75 | 5.46 | 64.04 | 8.34 | 19.14 | 265.79 | 4.59 | 24.39 | 288.98 | 0.24 | 20.0 | 166.67 | 25.66 | -0.27 | 21.9 | 81.83 | -9.58 | -32.38 | 96.12 | 3.7 | 74.76 | 3.88 | -46.93 | -91.37 | 8.94 | -8.87 | -41.64 |
| 21Q1 (6) | 1.55 | 25.0 | 0 | 24.95 | 17.03 | 0 | 20.17 | 28.96 | 0 | 21.71 | 26.37 | 0 | 17.78 | 23.64 | 0 | 7.00 | 17.85 | 0 | 3.69 | 22.19 | 0 | 0.20 | 0.0 | 0 | 25.73 | 20.85 | 0 | 90.50 | -11.6 | 0 | 92.68 | 2.27 | 0 | 7.32 | -21.95 | 0 | 9.81 | 7.57 | 0 |
| 20Q4 (5) | 1.24 | 45.88 | 0 | 21.32 | 15.12 | 0 | 15.64 | 1.82 | 0 | 17.18 | 8.46 | 0 | 14.38 | 18.16 | 0 | 5.94 | 37.5 | 0 | 3.02 | 41.78 | 0 | 0.20 | 25.0 | 0 | 21.29 | 2.06 | 0 | 102.37 | -7.48 | 0 | 90.62 | -5.43 | 0 | 9.38 | 350.0 | 0 | 9.12 | 0.55 | 0 |
| 20Q3 (4) | 0.85 | 57.41 | 0.0 | 18.52 | 57.89 | 0.0 | 15.36 | 133.08 | 0.0 | 15.84 | 32.77 | 0.0 | 12.17 | 6.47 | 0.0 | 4.32 | 89.47 | 0.0 | 2.13 | 80.51 | 0.0 | 0.16 | 77.78 | 0.0 | 20.86 | -0.9 | 0.0 | 110.65 | -8.56 | 0.0 | 95.83 | 74.24 | 0.0 | 2.08 | -95.37 | 0.0 | 9.07 | -40.8 | 0.0 |
| 20Q2 (3) | 0.54 | 0 | 0.0 | 11.73 | 0 | 0.0 | 6.59 | 0 | 0.0 | 11.93 | 0 | 0.0 | 11.43 | 0 | 0.0 | 2.28 | 0 | 0.0 | 1.18 | 0 | 0.0 | 0.09 | 0 | 0.0 | 21.05 | 0 | 0.0 | 121.01 | 0 | 0.0 | 55.00 | 0 | 0.0 | 45.00 | 0 | 0.0 | 15.32 | 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) | 0.67 | -76.9 | 8.96 | -57.62 | 3.20 | -80.27 | 4.23 | 52.01 | 5.27 | -67.06 | 4.55 | -64.95 | 3.27 | -75.06 | 2.54 | -72.54 | 0.44 | -36.23 | 10.87 | -44.14 | 69.75 | 28.24 | 61.54 | -39.22 | 40.38 | 0 | 0.00 | 0 | 11.49 | 17.24 |
| 2022 (9) | 2.90 | -42.69 | 21.14 | -14.45 | 16.22 | -19.22 | 2.78 | 5.39 | 16.00 | -23.37 | 12.98 | -24.14 | 13.11 | -48.28 | 9.25 | -41.6 | 0.69 | -23.33 | 19.46 | -19.15 | 54.39 | 34.2 | 101.24 | 5.11 | -1.24 | 0 | 0.00 | 0 | 9.80 | 12.9 |
| 2021 (8) | 5.06 | 77.54 | 24.71 | 38.51 | 20.08 | 50.75 | 2.64 | -35.27 | 20.88 | 65.71 | 17.11 | 63.42 | 25.35 | 84.9 | 15.84 | 123.73 | 0.90 | 45.16 | 24.07 | 35.68 | 40.53 | -60.41 | 96.32 | -9.21 | 3.68 | 0 | 0.00 | 0 | 8.68 | -15.07 |
| 2020 (7) | 2.85 | -20.83 | 17.84 | 17.76 | 13.32 | 17.05 | 4.07 | 15.85 | 12.60 | 14.03 | 10.47 | 17.11 | 13.71 | -8.72 | 7.08 | -7.09 | 0.62 | -20.51 | 17.74 | 13.79 | 102.37 | -13.14 | 106.08 | 2.87 | -5.41 | 0 | 0.00 | 0 | 10.22 | 18.42 |
| 2019 (6) | 3.60 | -25.31 | 15.15 | -7.68 | 11.38 | -13.92 | 3.52 | 63.24 | 11.05 | -20.22 | 8.94 | -18.8 | 15.02 | -29.32 | 7.62 | -41.29 | 0.78 | -31.58 | 15.59 | -7.15 | 117.85 | 5.12 | 103.12 | 8.06 | -3.12 | 0 | 0.00 | 0 | 8.63 | 14.3 |
| 2018 (5) | 4.82 | -14.39 | 16.41 | 14.12 | 13.22 | 14.66 | 2.15 | 63.44 | 13.85 | 16.39 | 11.01 | 11.21 | 21.25 | -17.41 | 12.98 | -30.25 | 1.14 | -39.36 | 16.79 | 21.05 | 112.11 | 368.3 | 95.43 | -1.45 | 4.57 | 44.6 | 0.00 | 0 | 7.55 | 13.53 |
| 2017 (4) | 5.63 | -3.6 | 14.38 | 51.53 | 11.53 | 76.03 | 1.32 | 51.95 | 11.90 | 37.25 | 9.90 | 46.45 | 25.73 | -8.21 | 18.61 | 18.38 | 1.88 | -18.26 | 13.87 | 35.45 | 23.94 | -62.61 | 96.84 | 28.55 | 3.16 | -87.2 | 0.00 | 0 | 6.65 | 4.23 |
| 2016 (3) | 5.84 | 0 | 9.49 | 0 | 6.55 | 0 | 0.87 | 0 | 8.67 | 0 | 6.76 | 0 | 28.03 | 0 | 15.72 | 0 | 2.30 | 0 | 10.24 | 0 | 64.03 | -35.38 | 75.33 | 0 | 24.67 | 0 | 0.00 | 0 | 6.38 | 0 |
| 2015 (2) | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 99.08 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 |
