- 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) | -0.77 | -16.67 | -42.59 | 12.52 | 4.59 | 10.99 | -1.86 | 77.62 | 81.51 | -5.00 | 35.06 | 31.97 | -4.89 | 30.74 | 27.56 | -3.45 | -9.52 | -33.2 | -1.66 | 6.74 | -9.21 | 0.39 | 44.44 | 62.5 | -1.22 | 46.26 | 21.29 | 95.62 | 38.5 | 51.08 | 37.93 | -64.68 | -72.41 | 62.07 | 937.93 | 265.52 | 0.00 | -100.0 | -100.0 |
| 24Q2 (19) | -0.66 | 8.33 | 56.58 | 11.97 | -0.91 | 250.76 | -8.31 | 39.56 | 73.69 | -7.70 | 33.28 | 70.91 | -7.06 | 32.63 | 70.21 | -3.15 | 14.63 | 52.27 | -1.78 | 22.27 | 58.89 | 0.27 | 17.39 | 42.11 | -2.27 | 55.92 | 88.13 | 69.04 | 23.0 | 36.42 | 107.41 | -8.7 | -10.27 | -7.41 | 58.02 | 62.39 | 37.27 | -17.31 | -31.05 |
| 24Q1 (18) | -0.72 | -2500.0 | 65.55 | 12.08 | -20.73 | 212.16 | -13.75 | -143.36 | 64.99 | -11.54 | -19.59 | 70.5 | -10.48 | -1790.32 | 70.64 | -3.69 | -1576.0 | 56.28 | -2.29 | -863.33 | 59.61 | 0.23 | -11.54 | 43.75 | -5.15 | -25.0 | 83.65 | 56.13 | 16.31 | 18.82 | 117.65 | 104.33 | 17.65 | -17.65 | -141.6 | 0 | 45.07 | 13.38 | -29.88 |
| 23Q4 (17) | 0.03 | 105.56 | 108.11 | 15.24 | 35.11 | -25.91 | -5.65 | 43.84 | -303.97 | -9.65 | -31.29 | -1106.25 | 0.62 | 109.19 | 120.74 | 0.25 | 109.65 | 122.94 | 0.30 | 119.74 | 146.15 | 0.26 | 8.33 | 4.0 | -4.12 | -165.81 | -201.98 | 48.26 | -23.75 | 4.91 | 57.58 | -58.13 | 117.27 | 42.42 | 213.13 | -90.21 | 39.75 | -7.9 | 2.4 |
| 23Q3 (16) | -0.54 | 64.47 | -133.54 | 11.28 | 242.07 | -60.11 | -10.06 | 68.15 | -167.2 | -7.35 | 72.23 | -142.98 | -6.75 | 71.52 | -151.21 | -2.59 | 60.76 | -135.29 | -1.52 | 64.9 | -131.21 | 0.24 | 26.32 | -33.33 | -1.55 | 91.89 | -107.62 | 63.29 | 25.05 | 27.52 | 137.50 | 14.87 | 56.41 | -37.50 | -90.38 | -410.23 | 43.16 | -20.15 | 50.59 |
| 23Q2 (15) | -1.52 | 27.27 | -442.86 | -7.94 | 26.28 | -174.28 | -31.59 | 19.58 | -399.05 | -26.47 | 32.34 | -1330.81 | -23.70 | 33.61 | -758.7 | -6.60 | 21.8 | -505.5 | -4.33 | 23.63 | -576.56 | 0.19 | 18.75 | -26.92 | -19.12 | 39.28 | -910.17 | 50.61 | 7.13 | -11.29 | 119.70 | 19.7 | -65.09 | -19.70 | 0 | 91.89 | 54.05 | -15.91 | 52.21 |
| 23Q1 (14) | -2.09 | -464.86 | -1641.67 | -10.77 | -152.36 | -172.33 | -39.28 | -1518.05 | -1031.99 | -39.12 | -4790.0 | -2863.64 | -35.70 | -1093.98 | -2604.55 | -8.44 | -674.31 | -1658.33 | -5.67 | -772.31 | -2262.5 | 0.16 | -36.0 | -33.33 | -31.49 | -879.46 | -1149.67 | 47.24 | 2.7 | -4.6 | 100.00 | 130.0 | -61.54 | -0.00 | -100.0 | 100.0 | 64.28 | 65.58 | 66.57 |
| 22Q4 (13) | -0.37 | -122.98 | -133.33 | 20.57 | -27.26 | -14.43 | 2.77 | -81.5 | -70.31 | -0.80 | -104.68 | -107.33 | -2.99 | -122.69 | -136.91 | -1.09 | -114.85 | -123.29 | -0.65 | -113.35 | -121.38 | 0.25 | -30.56 | -30.56 | 4.04 | -80.14 | -70.38 | 46.00 | -7.31 | -13.19 | -333.33 | -479.17 | -489.94 | 433.33 | 3484.85 | 2885.19 | 38.82 | 35.45 | 55.97 |
| 22Q3 (12) | 1.61 | 675.0 | 29.84 | 28.28 | 164.55 | 14.73 | 14.97 | 336.49 | 19.76 | 17.10 | 1024.32 | 38.13 | 13.18 | 577.54 | 54.88 | 7.34 | 773.39 | 37.97 | 4.87 | 860.94 | 42.4 | 0.36 | 38.46 | -7.69 | 20.34 | 761.86 | 36.33 | 49.63 | -13.01 | -24.22 | 87.91 | -74.36 | -12.09 | 12.09 | 104.98 | 1018.68 | 28.66 | -19.29 | 15.75 |
| 22Q2 (11) | -0.28 | -133.33 | -144.44 | 10.69 | -28.21 | -52.11 | -6.33 | -82.42 | -177.67 | -1.85 | -40.15 | -124.21 | -2.76 | -109.09 | -158.11 | -1.09 | -127.08 | -145.04 | -0.64 | -166.67 | -141.03 | 0.26 | 8.33 | -16.13 | 2.36 | -21.33 | -78.11 | 57.05 | 15.21 | 8.42 | 342.86 | 31.87 | 218.37 | -242.86 | -51.79 | -3057.14 | 35.51 | -7.98 | 14.96 |
| 22Q1 (10) | -0.12 | -110.81 | -135.29 | 14.89 | -38.06 | -31.48 | -3.47 | -137.19 | -237.7 | -1.32 | -112.1 | -120.06 | -1.32 | -116.3 | -134.38 | -0.48 | -110.26 | -133.1 | -0.24 | -107.89 | -125.26 | 0.24 | -33.33 | 14.29 | 3.00 | -78.01 | -72.38 | 49.52 | -6.55 | -36.16 | 260.00 | 204.15 | 576.0 | -160.00 | -1202.22 | -360.0 | 38.59 | 55.04 | 1.87 |
| 21Q4 (9) | 1.11 | -10.48 | 236.36 | 24.04 | -2.47 | -2.47 | 9.33 | -25.36 | -0.74 | 10.91 | -11.87 | 124.02 | 8.10 | -4.82 | 143.98 | 4.68 | -12.03 | 209.93 | 3.04 | -11.11 | 195.15 | 0.36 | -7.69 | 33.33 | 13.64 | -8.58 | 64.73 | 52.99 | -19.09 | -32.13 | 85.48 | -14.52 | -54.41 | 14.52 | 1203.23 | 115.84 | 24.89 | 0.53 | -23.3 |
| 21Q3 (8) | 1.24 | 96.83 | 45.88 | 24.65 | 10.44 | 14.97 | 12.50 | 53.37 | 129.78 | 12.38 | 62.04 | 89.88 | 8.51 | 79.16 | 19.52 | 5.32 | 119.83 | 56.93 | 3.42 | 119.23 | 43.1 | 0.39 | 25.81 | 18.18 | 14.92 | 38.4 | 57.72 | 65.49 | 24.46 | 24.41 | 100.00 | -7.14 | 18.52 | -1.32 | 82.89 | -108.42 | 24.76 | -19.84 | -21.87 |
| 21Q2 (7) | 0.63 | 85.29 | 400.0 | 22.32 | 2.72 | 11.38 | 8.15 | 223.41 | 7309.09 | 7.64 | 16.11 | 653.62 | 4.75 | 23.7 | 262.12 | 2.42 | 66.9 | 406.33 | 1.56 | 64.21 | 425.0 | 0.31 | 47.62 | 63.16 | 10.78 | -0.74 | 173.6 | 52.62 | -32.16 | 32.44 | 107.69 | 180.0 | 0 | -7.69 | -112.5 | -107.69 | 30.89 | -18.45 | 0 |
| 21Q1 (6) | 0.34 | 3.03 | -74.63 | 21.73 | -11.85 | -8.31 | 2.52 | -73.19 | -69.75 | 6.58 | 35.11 | -53.86 | 3.84 | 15.66 | -64.25 | 1.45 | -3.97 | -72.54 | 0.95 | -7.77 | -71.12 | 0.21 | -22.22 | -27.59 | 10.86 | 31.16 | -38.95 | 77.57 | -0.65 | 56.9 | 38.46 | -79.49 | -34.07 | 61.54 | 167.13 | 47.69 | 37.88 | 16.73 | 0 |
| 20Q4 (5) | 0.33 | -61.18 | -61.18 | 24.65 | 14.97 | 48.14 | 9.40 | 72.79 | 75.7 | 4.87 | -25.31 | 4.96 | 3.32 | -53.37 | -37.59 | 1.51 | -55.46 | -57.34 | 1.03 | -56.9 | -50.72 | 0.27 | -18.18 | -25.0 | 8.28 | -12.47 | 13.74 | 78.08 | 48.33 | -10.55 | 187.50 | 122.22 | 62.16 | -91.67 | -686.67 | -486.67 | 32.45 | 2.4 | 28.11 |
| 20Q3 (4) | 0.85 | 504.76 | 0.0 | 21.44 | 6.99 | 0.0 | 5.44 | 4845.45 | 0.0 | 6.52 | 572.46 | 0.0 | 7.12 | 343.0 | 0.0 | 3.39 | 529.11 | 0.0 | 2.39 | 597.92 | 0.0 | 0.33 | 73.68 | 0.0 | 9.46 | 140.1 | 0.0 | 52.64 | 32.49 | 0.0 | 84.38 | 0 | 0.0 | 15.62 | -84.38 | 0.0 | 31.69 | 0 | 0.0 |
| 20Q2 (3) | -0.21 | -115.67 | 0.0 | 20.04 | -15.44 | 0.0 | 0.11 | -98.68 | 0.0 | -1.38 | -109.68 | 0.0 | -2.93 | -127.28 | 0.0 | -0.79 | -114.96 | 0.0 | -0.48 | -114.59 | 0.0 | 0.19 | -34.48 | 0.0 | 3.94 | -77.85 | 0.0 | 39.73 | -19.64 | 0.0 | -0.00 | -100.0 | 0.0 | 100.00 | 140.0 | 0.0 | 0.00 | 0 | 0.0 |
| 20Q1 (2) | 1.34 | 57.65 | 0.0 | 23.70 | 42.43 | 0.0 | 8.33 | 55.7 | 0.0 | 14.26 | 207.33 | 0.0 | 10.74 | 101.88 | 0.0 | 5.28 | 49.15 | 0.0 | 3.29 | 57.42 | 0.0 | 0.29 | -19.44 | 0.0 | 17.79 | 144.37 | 0.0 | 49.44 | -43.36 | 0.0 | 58.33 | -49.55 | 0.0 | 41.67 | 366.67 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q4 (1) | 0.85 | 0.0 | 0.0 | 16.64 | 0.0 | 0.0 | 5.35 | 0.0 | 0.0 | 4.64 | 0.0 | 0.0 | 5.32 | 0.0 | 0.0 | 3.54 | 0.0 | 0.0 | 2.09 | 0.0 | 0.0 | 0.36 | 0.0 | 0.0 | 7.28 | 0.0 | 0.0 | 87.29 | 0.0 | 0.0 | 115.62 | 0.0 | 0.0 | -15.62 | 0.0 | 0.0 | 25.33 | 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) | -4.12 | 0 | 3.75 | -80.77 | -19.42 | 0 | 5.48 | 56.08 | -18.69 | 0 | -14.18 | 0 | -17.24 | 0 | -11.28 | 0 | 0.83 | -23.15 | -12.27 | 0 | 48.26 | 4.91 | 103.72 | 48.73 | -3.72 | 0 | 1.35 | 105.11 | 48.84 | 40.63 |
| 2022 (9) | 0.85 | -74.4 | 19.50 | -16.52 | 3.21 | -63.02 | 3.51 | 43.83 | 4.60 | -52.67 | 2.64 | -59.94 | 4.24 | -67.68 | 3.13 | -62.2 | 1.08 | -10.0 | 8.60 | -32.5 | 46.00 | -13.19 | 69.74 | -21.79 | 30.26 | 179.25 | 0.66 | 13.52 | 34.73 | 20.67 |
| 2021 (8) | 3.32 | 43.72 | 23.36 | 2.68 | 8.68 | 33.33 | 2.44 | -17.05 | 9.72 | 38.07 | 6.59 | 19.17 | 13.12 | 43.23 | 8.28 | 54.19 | 1.20 | 31.87 | 12.74 | 19.62 | 52.99 | -32.13 | 89.16 | -3.86 | 10.84 | 49.32 | 0.58 | -6.68 | 28.78 | -15.95 |
| 2020 (7) | 2.31 | 0 | 22.75 | 82.0 | 6.51 | 0 | 2.94 | -1.36 | 7.04 | 0 | 5.53 | 0 | 9.16 | 0 | 5.37 | 0 | 0.91 | -8.08 | 10.65 | 0 | 78.08 | -10.55 | 92.74 | -1.02 | 7.26 | 15.09 | 0.62 | -69.53 | 34.24 | -5.34 |
| 2019 (6) | -3.83 | 0 | 12.50 | -58.18 | -5.75 | 0 | 2.99 | 68.08 | -6.13 | 0 | -6.54 | 0 | -9.76 | 0 | -6.27 | 0 | 0.99 | -43.75 | -2.60 | 0 | 87.29 | 270.82 | 93.69 | -2.84 | 6.31 | 76.58 | 2.04 | 2.23 | 36.17 | 12.4 |
| 2018 (5) | 5.41 | 54.13 | 29.89 | -2.7 | 16.61 | 4.6 | 1.78 | -15.15 | 17.23 | 18.42 | 12.55 | 20.91 | 29.29 | 22.86 | 22.13 | 32.51 | 1.76 | 12.1 | 19.19 | 12.09 | 23.54 | -46.03 | 96.43 | -11.49 | 3.57 | 0 | 2.00 | 0 | 32.18 | 0.5 |
| 2017 (4) | 3.51 | -39.48 | 30.72 | -1.63 | 15.88 | -0.5 | 2.09 | -2.16 | 14.55 | -9.06 | 10.38 | -9.58 | 23.84 | -28.02 | 16.70 | -20.02 | 1.57 | -11.3 | 17.12 | -8.5 | 43.62 | -11.27 | 108.95 | 9.26 | -9.27 | 0 | 0.00 | 0 | 32.02 | -3.47 |
| 2016 (3) | 5.80 | -2.68 | 31.23 | 10.47 | 15.96 | 13.51 | 2.14 | 5.1 | 16.00 | 6.6 | 11.48 | 18.11 | 33.12 | 1.66 | 20.88 | 14.85 | 1.77 | -2.21 | 18.71 | 6.01 | 49.16 | -35.76 | 99.72 | 6.3 | 0.28 | -95.41 | 0.00 | 0 | 33.17 | 40.25 |
| 2015 (2) | 5.96 | 145.27 | 28.27 | 33.6 | 14.06 | 157.51 | 2.04 | -37.6 | 15.01 | 110.81 | 9.72 | 67.59 | 32.58 | 164.88 | 18.18 | 125.0 | 1.81 | 33.09 | 17.65 | 64.03 | 76.52 | -22.17 | 93.81 | 22.3 | 6.19 | -73.41 | 0.00 | 0 | 23.65 | -17.08 |
| 2014 (1) | 2.43 | 58.82 | 21.16 | 0 | 5.46 | 0 | 3.26 | 0.54 | 7.12 | 0 | 5.80 | 0 | 12.30 | 0 | 8.08 | 0 | 1.36 | 0 | 10.76 | 43.85 | 98.32 | 284.06 | 76.70 | 27.83 | 23.30 | -44.28 | 0.00 | 0 | 28.52 | -0.83 |
