- 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) | 0.56 | -48.15 | -53.33 | 86.07 | 0.06 | 0.07 | 10.06 | 20.05 | 12.53 | 10.38 | -45.34 | -55.53 | 8.39 | -47.53 | -57.52 | 0.96 | -48.11 | -52.24 | 0.73 | -48.59 | -52.9 | 0.09 | 0.0 | 12.5 | 11.85 | -42.28 | -52.29 | 29.17 | -14.33 | 9.13 | 98.15 | 120.29 | 155.64 | 3.70 | -93.32 | -93.99 | 45.44 | 1.23 | -1.09 |
| 24Q2 (19) | 1.08 | -14.29 | 38.46 | 86.02 | 0.24 | 1.18 | 8.38 | 19.71 | -6.26 | 18.99 | -22.27 | -11.59 | 15.99 | -20.96 | 15.87 | 1.85 | -15.53 | 40.15 | 1.42 | -17.44 | 37.86 | 0.09 | 12.5 | 28.57 | 20.53 | -21.1 | -11.96 | 34.05 | 28.25 | 7.38 | 44.55 | 57.25 | 6.93 | 55.45 | -22.63 | -4.95 | 44.89 | -1.79 | -4.61 |
| 24Q1 (18) | 1.26 | 800.0 | 82.61 | 85.81 | -0.41 | 1.08 | 7.00 | 5.11 | -10.03 | 24.43 | 257.69 | 65.74 | 20.23 | 819.55 | 59.29 | 2.19 | 812.5 | 87.18 | 1.72 | 805.26 | 82.98 | 0.08 | -11.11 | 14.29 | 26.02 | 207.93 | 57.98 | 26.55 | -7.39 | 4.86 | 28.33 | -70.83 | -47.5 | 71.67 | 2408.33 | 50.5 | 45.71 | -4.89 | -4.07 |
| 23Q4 (17) | 0.14 | -88.33 | 123.73 | 86.16 | 0.17 | -0.43 | 6.66 | -25.5 | -54.72 | 6.83 | -70.74 | 164.31 | 2.20 | -88.86 | 120.68 | 0.24 | -88.06 | 119.51 | 0.19 | -87.74 | 120.21 | 0.09 | 12.5 | 0.0 | 8.45 | -65.98 | 195.16 | 28.67 | 7.26 | 13.5 | 97.14 | 153.02 | 170.24 | 2.86 | -95.36 | -98.79 | 48.06 | 4.61 | 12.0 |
| 23Q3 (16) | 1.20 | 53.85 | 9.09 | 86.01 | 1.16 | -1.35 | 8.94 | 0.0 | -25.0 | 23.34 | 8.66 | 8.56 | 19.75 | 43.12 | -2.52 | 2.01 | 52.27 | -33.44 | 1.55 | 50.49 | -25.12 | 0.08 | 14.29 | -20.0 | 24.84 | 6.52 | 5.52 | 26.73 | -15.7 | -31.71 | 38.39 | -7.86 | -30.74 | 61.61 | 5.61 | 38.24 | 45.94 | -2.38 | -5.32 |
| 23Q2 (15) | 0.78 | 13.04 | -39.06 | 85.02 | 0.15 | -2.02 | 8.94 | 14.91 | -36.95 | 21.48 | 45.73 | -23.4 | 13.80 | 8.66 | -39.55 | 1.32 | 12.82 | -63.13 | 1.03 | 9.57 | -57.44 | 0.07 | 0.0 | -36.36 | 23.32 | 41.59 | -21.9 | 31.71 | 25.24 | -38.97 | 41.67 | -22.79 | -17.99 | 58.33 | 22.5 | 18.58 | 47.06 | -1.24 | 1.97 |
| 23Q1 (14) | 0.69 | 216.95 | 25.45 | 84.89 | -1.9 | -0.4 | 7.78 | -47.11 | 57.17 | 14.74 | 238.79 | 9.27 | 12.70 | 219.36 | 13.9 | 1.17 | 195.12 | -24.03 | 0.94 | 200.0 | -11.32 | 0.07 | -22.22 | -22.22 | 16.47 | 285.47 | 6.33 | 25.32 | 0.24 | -43.52 | 53.97 | 139.02 | 44.86 | 47.62 | -79.84 | -26.41 | 47.65 | 11.05 | -8.1 |
| 22Q4 (13) | -0.59 | -153.64 | 93.5 | 86.53 | -0.76 | 1.03 | 14.71 | 23.41 | 17.4 | -10.62 | -149.4 | 93.61 | -10.64 | -152.52 | 93.86 | -1.23 | -140.73 | 94.71 | -0.94 | -145.41 | 94.29 | 0.09 | -10.0 | 0.0 | -8.88 | -137.72 | 94.59 | 25.26 | -35.46 | -45.65 | -138.30 | -349.48 | -1741.26 | 236.17 | 429.94 | 119.67 | 42.91 | -11.56 | -13.07 |
| 22Q3 (12) | 1.10 | -14.06 | 50.68 | 87.19 | 0.48 | 3.79 | 11.92 | -15.94 | -19.95 | 21.50 | -23.32 | 17.23 | 20.26 | -11.26 | 32.07 | 3.02 | -15.64 | 87.58 | 2.07 | -14.46 | 73.95 | 0.10 | -9.09 | 25.0 | 23.54 | -21.17 | 14.89 | 39.14 | -24.67 | 5.76 | 55.43 | 9.11 | -31.46 | 44.57 | -9.41 | 133.11 | 48.52 | 5.14 | 4.25 |
| 22Q2 (11) | 1.28 | 132.73 | 70.67 | 86.77 | 1.81 | 3.97 | 14.18 | 186.46 | -9.8 | 28.04 | 107.86 | 59.41 | 22.83 | 104.75 | 62.96 | 3.58 | 132.47 | 120.99 | 2.42 | 128.3 | 101.67 | 0.11 | 22.22 | 22.22 | 29.86 | 92.77 | 51.5 | 51.96 | 15.9 | 50.74 | 50.81 | 36.38 | -43.04 | 49.19 | -23.97 | 355.04 | 46.15 | -10.99 | 1.41 |
| 22Q1 (10) | 0.55 | 106.06 | 44.74 | 85.23 | -0.49 | 3.91 | 4.95 | -60.49 | -23.14 | 13.49 | 108.11 | 43.05 | 11.15 | 106.43 | 40.78 | 1.54 | 106.63 | 92.5 | 1.06 | 106.44 | 76.67 | 0.09 | 0.0 | 12.5 | 15.49 | 109.44 | 29.41 | 44.83 | -3.55 | 28.53 | 37.25 | 596.0 | -45.67 | 64.71 | -39.81 | 105.88 | 51.85 | 5.04 | 11.34 |
| 21Q4 (9) | -9.08 | -1343.84 | -7666.67 | 85.65 | 1.95 | 25.27 | 12.53 | -15.85 | -13.17 | -166.25 | -1006.49 | -2577.65 | -173.43 | -1230.57 | -7511.54 | -23.23 | -1542.86 | -8703.7 | -16.45 | -1482.35 | -8325.0 | 0.09 | 12.5 | 0.0 | -164.06 | -900.68 | -1939.24 | 46.48 | 25.59 | 34.69 | -7.51 | -109.29 | -103.46 | 107.51 | 462.37 | 191.7 | 49.36 | 6.06 | 11.88 |
| 21Q3 (8) | 0.73 | -2.67 | 15.87 | 84.01 | 0.66 | -3.46 | 14.89 | -5.28 | -9.04 | 18.34 | 4.26 | 15.13 | 15.34 | 9.49 | 27.41 | 1.61 | -0.62 | 18.38 | 1.19 | -0.83 | 20.2 | 0.08 | -11.11 | 0.0 | 20.49 | 3.96 | 14.98 | 37.01 | 7.37 | 5.44 | 80.88 | -9.31 | -21.4 | 19.12 | 76.84 | 759.56 | 46.54 | 2.26 | 17.58 |
| 21Q2 (7) | 0.75 | 97.37 | 27.12 | 83.46 | 1.76 | -5.99 | 15.72 | 144.1 | 8.19 | 17.59 | 86.53 | 21.9 | 14.01 | 76.89 | 17.73 | 1.62 | 102.5 | 32.79 | 1.20 | 100.0 | 33.33 | 0.09 | 12.5 | 12.5 | 19.71 | 64.66 | 20.26 | 34.47 | -1.18 | -17.5 | 89.19 | 30.07 | -10.81 | 10.81 | -65.6 | 0 | 45.51 | -2.28 | 15.22 |
| 21Q1 (6) | 0.38 | 216.67 | -58.24 | 82.02 | 19.96 | -7.03 | 6.44 | -55.37 | -47.08 | 9.43 | 40.54 | -64.81 | 7.92 | 238.46 | -63.2 | 0.80 | 196.3 | -56.28 | 0.60 | 200.0 | -57.14 | 0.08 | -11.11 | 33.33 | 11.97 | 34.19 | -58.91 | 34.88 | 1.07 | 15.15 | 68.57 | -68.44 | 53.09 | 31.43 | 126.81 | -41.98 | 46.57 | 5.55 | 6.01 |
| 20Q4 (5) | 0.12 | -80.95 | -89.09 | 68.37 | -21.43 | -21.07 | 14.43 | -11.85 | -18.57 | 6.71 | -57.88 | -73.0 | 2.34 | -80.56 | -89.8 | 0.27 | -80.15 | -87.84 | 0.20 | -79.8 | -88.1 | 0.09 | 12.5 | 28.57 | 8.92 | -49.94 | -66.57 | 34.51 | -1.68 | 9.8 | 217.24 | 111.12 | 205.97 | -117.24 | -3944.83 | -504.28 | 44.12 | 11.47 | 2.37 |
| 20Q3 (4) | 0.63 | 6.78 | 0.0 | 87.02 | -1.98 | 0.0 | 16.37 | 12.66 | 0.0 | 15.93 | 10.4 | 0.0 | 12.04 | 1.18 | 0.0 | 1.36 | 11.48 | 0.0 | 0.99 | 10.0 | 0.0 | 0.08 | 0.0 | 0.0 | 17.82 | 8.72 | 0.0 | 35.10 | -15.99 | 0.0 | 102.90 | 2.9 | 0.0 | -2.90 | 0 | 0.0 | 39.58 | 0.2 | 0.0 |
| 20Q2 (3) | 0.59 | -35.16 | 0.0 | 88.78 | 0.63 | 0.0 | 14.53 | 19.39 | 0.0 | 14.43 | -46.16 | 0.0 | 11.90 | -44.7 | 0.0 | 1.22 | -33.33 | 0.0 | 0.90 | -35.71 | 0.0 | 0.08 | 33.33 | 0.0 | 16.39 | -43.73 | 0.0 | 41.78 | 37.93 | 0.0 | 100.00 | 123.26 | 0.0 | -0.00 | -100.0 | 0.0 | 39.50 | -10.08 | 0.0 |
| 20Q1 (2) | 0.91 | -17.27 | 0.0 | 88.22 | 1.85 | 0.0 | 12.17 | -31.32 | 0.0 | 26.80 | 7.85 | 0.0 | 21.52 | -6.23 | 0.0 | 1.83 | -17.57 | 0.0 | 1.40 | -16.67 | 0.0 | 0.06 | -14.29 | 0.0 | 29.13 | 9.18 | 0.0 | 30.29 | -3.63 | 0.0 | 44.79 | -36.91 | 0.0 | 54.17 | 86.78 | 0.0 | 43.93 | 1.93 | 0.0 |
| 19Q4 (1) | 1.10 | 0.0 | 0.0 | 86.62 | 0.0 | 0.0 | 17.72 | 0.0 | 0.0 | 24.85 | 0.0 | 0.0 | 22.95 | 0.0 | 0.0 | 2.22 | 0.0 | 0.0 | 1.68 | 0.0 | 0.0 | 0.07 | 0.0 | 0.0 | 26.68 | 0.0 | 0.0 | 31.43 | 0.0 | 0.0 | 71.00 | 0.0 | 0.0 | 29.00 | 0.0 | 0.0 | 43.10 | 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) | 2.81 | 20.09 | 85.55 | -1.06 | 8.05 | -30.96 | 1.55 | -9.33 | 16.40 | 25.57 | 11.91 | 9.67 | 4.88 | -2.2 | 3.85 | 2.67 | 0.32 | -8.57 | 18.07 | 20.79 | 28.67 | 13.5 | 49.02 | -45.01 | 50.98 | 369.44 | 0.00 | 0 | 47.18 | -0.04 |
| 2022 (9) | 2.34 | 0 | 86.47 | 3.17 | 11.66 | -6.57 | 1.71 | -12.76 | 13.06 | 0 | 10.86 | 0 | 4.99 | 0 | 3.75 | 0 | 0.35 | 0.0 | 14.96 | 0 | 25.26 | -45.65 | 89.14 | 0 | 10.86 | -92.19 | 0.03 | -31.92 | 47.20 | 0.43 |
| 2021 (8) | -7.21 | 0 | 83.81 | 1.27 | 12.48 | -13.75 | 1.97 | -2.25 | -31.80 | 0 | -35.68 | 0 | -17.26 | 0 | -12.37 | 0 | 0.35 | 12.9 | -29.61 | 0 | 46.48 | 34.69 | -39.24 | 0 | 139.04 | 2107.32 | 0.05 | 29.46 | 47.00 | 12.68 |
| 2020 (7) | 2.26 | -50.11 | 82.76 | -4.96 | 14.47 | -18.62 | 2.01 | -2.47 | 15.46 | -52.71 | 11.48 | -56.05 | 4.71 | -50.26 | 3.55 | -50.14 | 0.31 | 14.81 | 17.55 | -49.54 | 34.51 | 9.8 | 93.31 | 71.48 | 6.30 | -86.18 | 0.04 | 0 | 41.71 | -4.47 |
| 2019 (6) | 4.53 | 16.75 | 87.08 | -1.2 | 17.78 | -33.26 | 2.06 | 36.6 | 32.69 | 17.08 | 26.12 | 26.24 | 9.47 | 10.63 | 7.12 | 11.77 | 0.27 | -12.9 | 34.78 | 18.18 | 31.43 | -10.28 | 54.41 | -42.89 | 45.59 | 912.06 | 0.00 | 0 | 43.66 | 13.79 |
| 2018 (5) | 3.88 | 42.65 | 88.14 | 0.08 | 26.64 | -22.89 | 1.51 | 11.83 | 27.92 | 29.8 | 20.69 | 46.01 | 8.56 | 42.43 | 6.37 | 42.19 | 0.31 | -3.13 | 29.43 | 28.91 | 35.03 | 3.98 | 95.27 | -40.8 | 4.50 | 0 | 0.00 | 0 | 38.37 | 4.84 |
| 2017 (4) | 2.72 | -13.65 | 88.07 | 2.06 | 34.55 | -11.07 | 1.35 | 16.33 | 21.51 | -19.07 | 14.17 | -11.49 | 6.01 | -13.4 | 4.48 | -13.51 | 0.32 | 0.0 | 22.83 | -17.7 | 33.69 | -2.23 | 160.93 | 10.05 | -60.66 | 0 | 0.00 | 0 | 36.60 | 10.61 |
| 2016 (3) | 3.15 | -43.75 | 86.29 | 0.43 | 38.85 | 21.67 | 1.16 | 4.22 | 26.58 | -24.12 | 16.01 | -43.15 | 6.94 | -41.43 | 5.18 | -41.93 | 0.32 | 0.0 | 27.74 | -23.22 | 34.46 | 2.83 | 146.23 | 60.37 | -46.23 | 0 | 0.00 | 0 | 33.09 | -8.57 |
| 2015 (2) | 5.60 | -20.68 | 85.92 | -0.14 | 31.93 | 5.0 | 1.11 | 23.75 | 35.03 | -11.9 | 28.16 | -11.47 | 11.85 | -19.06 | 8.92 | -19.57 | 0.32 | -8.57 | 36.13 | -11.16 | 33.51 | 4.1 | 91.18 | 19.24 | 8.82 | -62.54 | 0.00 | 0 | 36.19 | -4.51 |
| 2014 (1) | 7.06 | -0.14 | 86.04 | 0 | 30.41 | 0 | 0.90 | 16.06 | 39.76 | 0 | 31.81 | 0 | 14.64 | 0 | 11.09 | 0 | 0.35 | -14.63 | 40.67 | 3.59 | 32.19 | 0.63 | 76.47 | -15.52 | 23.53 | 148.31 | 0.00 | 0 | 37.90 | 13.03 |
