- 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) | -0.97 | -21.25 | 57.27 | -6.20 | -132.41 | 88.68 | -56.71 | -87.22 | 45.66 | -49.74 | -53.85 | 55.77 | -49.74 | -53.85 | 55.77 | -11.30 | -34.05 | 54.2 | -5.81 | -27.69 | 47.8 | 0.12 | -14.29 | 9.09 | -36.84 | -63.81 | 61.05 | 96.43 | 12.78 | 20.37 | 115.15 | 21.93 | 24.07 | -13.64 | -345.45 | -289.77 | 36.27 | -5.4 | -6.5 |
| 24Q2 (19) | -0.80 | 20.0 | 60.0 | 19.13 | 417.25 | 267.81 | -30.29 | 57.38 | 24.8 | -32.33 | 55.55 | 23.59 | -32.33 | 55.55 | 36.98 | -8.43 | 27.33 | 66.89 | -4.55 | 30.21 | 55.44 | 0.14 | 55.56 | -30.0 | -22.49 | 61.73 | 35.61 | 85.50 | 11.37 | -46.38 | 94.44 | -3.22 | -1.26 | 5.56 | 130.56 | 6.48 | 38.34 | -25.94 | 67.57 |
| 24Q1 (18) | -1.00 | 36.71 | 27.01 | -6.03 | 71.57 | -137.2 | -71.07 | 27.06 | -186.69 | -72.74 | 26.2 | -187.06 | -72.74 | 26.26 | -105.31 | -11.60 | 19.33 | 19.72 | -6.52 | 18.19 | 4.68 | 0.09 | 12.5 | -55.0 | -58.77 | 30.06 | -253.82 | 76.77 | 4.01 | -42.01 | 97.59 | -1.57 | 0.5 | 2.41 | 181.93 | 66.27 | 51.77 | -13.47 | 138.13 |
| 23Q4 (17) | -1.58 | 30.4 | -23.44 | -21.21 | 61.29 | -230.44 | -97.44 | 6.64 | -356.39 | -98.56 | 12.37 | -322.28 | -98.64 | 12.3 | -322.62 | -14.38 | 41.71 | -28.16 | -7.97 | 28.39 | -31.74 | 0.08 | -27.27 | -69.23 | -84.03 | 11.16 | -391.98 | 73.81 | -7.86 | -10.08 | 99.15 | 6.82 | 8.04 | 0.85 | -88.11 | -89.62 | 59.83 | 54.24 | 147.95 |
| 23Q3 (16) | -2.27 | -13.5 | -26.11 | -54.79 | -380.61 | -110.08 | -104.37 | -159.11 | -6.06 | -112.47 | -165.82 | -7.68 | -112.47 | -119.24 | -7.68 | -24.67 | 3.1 | -68.4 | -11.13 | -9.01 | -31.25 | 0.11 | -45.0 | 37.5 | -94.59 | -170.8 | -10.05 | 80.11 | -49.76 | -1.22 | 92.81 | -2.97 | -1.73 | 7.19 | 37.72 | 29.34 | 38.79 | 69.54 | -1.75 |
| 23Q2 (15) | -2.00 | -45.99 | -52.67 | -11.40 | -170.33 | -343.07 | -40.28 | -62.48 | 43.71 | -42.31 | -66.97 | 42.4 | -51.30 | -44.79 | 30.17 | -25.46 | -76.19 | -99.22 | -10.21 | -49.27 | -62.32 | 0.20 | 0.0 | 122.22 | -34.93 | -110.3 | 34.08 | 159.45 | 20.45 | 161.09 | 95.65 | -1.49 | -0.89 | 5.22 | 260.0 | 124.35 | 22.88 | 5.24 | -36.32 |
| 23Q1 (14) | -1.37 | -7.03 | 18.93 | 16.21 | -0.31 | 215.87 | -24.79 | -16.11 | 73.5 | -25.34 | -8.57 | 73.35 | -35.43 | -51.8 | 62.74 | -14.45 | -28.79 | 34.88 | -6.84 | -13.06 | 22.36 | 0.20 | -23.08 | 100.0 | -16.61 | 2.75 | 77.22 | 132.38 | 61.28 | -23.99 | 97.10 | 5.82 | -1.93 | 1.45 | -82.4 | -26.81 | 21.74 | -9.9 | -60.26 |
| 22Q4 (13) | -1.28 | 28.89 | 31.55 | 16.26 | 162.35 | 225.56 | -21.35 | 78.31 | 72.52 | -23.34 | 77.65 | 71.46 | -23.34 | 77.65 | 71.46 | -11.22 | 23.41 | 44.67 | -6.05 | 28.66 | 39.86 | 0.26 | 225.0 | 100.0 | -17.08 | 80.13 | 74.0 | 82.08 | 1.21 | -31.86 | 91.76 | -2.84 | -3.04 | 8.24 | 48.24 | 53.73 | 24.13 | -38.88 | -27.6 |
| 22Q3 (12) | -1.80 | -37.4 | -1185.71 | -26.08 | -656.08 | -41.82 | -98.41 | -37.52 | -204.58 | -104.45 | -42.19 | -447.43 | -104.45 | -42.19 | -447.43 | -14.65 | -14.63 | -587.79 | -8.48 | -34.82 | -739.6 | 0.08 | -11.11 | 33.33 | -85.95 | -62.2 | -749.17 | 81.10 | 32.8 | 2.17 | 94.44 | -2.14 | -44.19 | 5.56 | 138.89 | 108.02 | 39.48 | 9.88 | -11.4 |
| 22Q2 (11) | -1.31 | 22.49 | 61.58 | 4.69 | 133.52 | 113.65 | -71.56 | 23.51 | 40.29 | -73.46 | 22.75 | 85.29 | -73.46 | 22.75 | 85.29 | -12.78 | 42.41 | 68.72 | -6.29 | 28.6 | 76.17 | 0.09 | -10.0 | 80.0 | -52.99 | 27.31 | 88.61 | 61.07 | -64.94 | -20.54 | 96.51 | -2.52 | 304.06 | 2.33 | 17.44 | -96.94 | 35.93 | -34.33 | -20.91 |
| 22Q1 (10) | -1.69 | 9.63 | -125.33 | -13.99 | -8.03 | 69.39 | -93.55 | -20.41 | 38.69 | -95.10 | -16.3 | 64.21 | -95.10 | -16.3 | 64.21 | -22.19 | -9.42 | -83.24 | -8.81 | 12.43 | -1.15 | 0.10 | -23.08 | 233.33 | -72.90 | -10.98 | 66.18 | 174.17 | 44.6 | 347.97 | 99.01 | 4.61 | 70.76 | 1.98 | -63.04 | -95.38 | 54.71 | 64.15 | -21.1 |
| 21Q4 (9) | -1.87 | -1235.71 | -74.77 | -12.95 | 29.58 | 74.84 | -77.69 | -140.45 | 54.02 | -81.77 | -328.56 | 70.45 | -81.77 | -328.56 | 70.45 | -20.28 | -852.11 | -48.14 | -10.06 | -896.04 | 1.28 | 0.13 | 116.67 | 225.0 | -65.69 | -596.15 | 71.7 | 120.45 | 51.74 | 239.68 | 94.64 | -44.07 | 55.05 | 5.36 | 107.74 | -86.25 | 33.33 | -25.2 | -52.99 |
| 21Q3 (8) | -0.14 | 95.89 | 93.1 | -18.39 | 46.46 | 70.05 | -32.31 | 73.04 | 82.93 | -19.08 | 96.18 | 96.95 | -19.08 | 96.18 | 96.95 | -2.13 | 94.79 | 91.95 | -1.01 | 96.17 | 94.88 | 0.06 | 20.0 | 100.0 | 13.24 | 102.85 | 102.31 | 79.38 | 3.28 | 153.37 | 169.23 | 608.51 | 455.79 | -69.23 | -190.96 | -199.08 | 44.56 | -1.92 | -28.76 |
| 21Q2 (7) | -3.41 | -354.67 | -258.95 | -34.35 | 24.85 | 97.06 | -119.84 | 21.46 | 94.83 | -499.47 | -87.96 | 81.49 | -499.47 | -87.96 | 81.49 | -40.86 | -237.41 | -305.76 | -26.40 | -203.1 | -267.69 | 0.05 | 66.67 | 0 | -465.08 | -115.75 | 76.27 | 76.86 | 97.69 | 114.99 | 23.89 | -58.81 | -72.28 | 76.11 | 77.6 | 450.71 | 45.43 | -34.48 | -92.68 |
| 21Q1 (6) | -0.75 | 29.91 | -102.7 | -45.71 | 11.21 | 59.19 | -152.59 | 9.7 | 40.06 | -265.73 | 3.98 | 3.58 | -265.73 | 3.98 | 3.58 | -12.11 | 11.54 | -79.14 | -8.71 | 14.52 | -82.22 | 0.03 | -25.0 | 50.0 | -215.56 | 7.14 | -11.15 | 38.88 | 9.64 | -8.06 | 57.98 | -5.01 | -37.13 | 42.86 | 10.0 | 451.02 | 69.34 | -2.2 | 0 |
| 20Q4 (5) | -1.07 | 47.29 | -132.61 | -51.48 | 16.16 | -73.16 | -168.98 | 10.72 | 16.82 | -276.75 | 55.73 | -3.64 | -276.75 | 55.73 | -3.64 | -13.69 | 48.24 | -91.47 | -10.19 | 48.38 | -99.8 | 0.04 | 33.33 | 100.0 | -232.14 | 59.56 | -13.1 | 35.46 | 13.18 | -3.54 | 61.04 | 100.46 | -20.18 | 38.96 | -44.24 | 58.96 | 70.90 | 13.35 | -35.04 |
| 20Q3 (4) | -2.03 | -113.68 | 0.0 | -61.40 | 94.74 | 0.0 | -189.26 | 91.83 | 0.0 | -625.12 | 76.83 | 0.0 | -625.12 | 76.83 | 0.0 | -26.45 | -162.66 | 0.0 | -19.74 | -174.93 | 0.0 | 0.03 | 0 | 0.0 | -574.00 | 70.71 | 0.0 | 31.33 | -12.36 | 0.0 | 30.45 | -64.67 | 0.0 | 69.87 | 405.54 | 0.0 | 62.55 | -89.92 | 0.0 |
| 20Q2 (3) | -0.95 | -156.76 | 0.0 | -1168.32 | -942.96 | 0.0 | -2316.09 | -809.8 | 0.0 | -2698.29 | -879.06 | 0.0 | -2698.29 | -879.06 | 0.0 | -10.07 | -48.96 | 0.0 | -7.18 | -50.21 | 0.0 | 0.00 | -100.0 | 0.0 | -1960.00 | -910.62 | 0.0 | 35.75 | -15.46 | 0.0 | 86.18 | -6.55 | 0.0 | 13.82 | 77.7 | 0.0 | 620.36 | 0 | 0.0 |
| 20Q1 (2) | -0.37 | 19.57 | 0.0 | -112.02 | -276.79 | 0.0 | -254.57 | -25.31 | 0.0 | -275.60 | -3.21 | 0.0 | -275.60 | -3.21 | 0.0 | -6.76 | 5.45 | 0.0 | -4.78 | 6.27 | 0.0 | 0.02 | 0.0 | 0.0 | -193.94 | 5.51 | 0.0 | 42.29 | 15.04 | 0.0 | 92.22 | 20.6 | 0.0 | 7.78 | -68.27 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q4 (1) | -0.46 | 0.0 | 0.0 | -29.73 | 0.0 | 0.0 | -203.15 | 0.0 | 0.0 | -267.04 | 0.0 | 0.0 | -267.04 | 0.0 | 0.0 | -7.15 | 0.0 | 0.0 | -5.10 | 0.0 | 0.0 | 0.02 | 0.0 | 0.0 | -205.26 | 0.0 | 0.0 | 36.76 | 0.0 | 0.0 | 76.47 | 0.0 | 0.0 | 24.51 | 0.0 | 0.0 | 109.15 | 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) | -7.00 | 0 | -11.52 | 0 | -55.17 | 0 | 7.16 | -7.82 | -57.68 | 0 | -64.09 | 0 | -70.66 | 0 | -38.39 | 0 | 0.62 | 5.08 | -46.91 | 0 | 73.81 | -10.08 | 95.72 | 0.25 | 4.28 | -5.31 | 0.23 | -57.6 | 30.81 | -7.51 |
| 2022 (9) | -6.00 | 0 | 2.57 | 0 | -53.67 | 0 | 7.77 | -54.12 | -56.27 | 0 | -56.27 | 0 | -65.76 | 0 | -32.48 | 0 | 0.59 | 136.0 | -43.08 | 0 | 82.08 | -31.86 | 95.48 | 96.22 | 4.52 | -91.16 | 0.54 | -81.57 | 33.31 | -23.21 |
| 2021 (8) | -9.31 | 0 | -23.14 | 0 | -87.06 | 0 | 16.93 | -64.91 | -178.57 | 0 | -178.57 | 0 | -72.45 | 0 | -43.90 | 0 | 0.25 | 177.78 | -150.48 | 0 | 120.45 | 239.68 | 48.66 | -12.36 | 51.16 | 15.03 | 2.92 | -28.65 | 43.38 | -52.38 |
| 2020 (7) | -4.73 | 0 | -104.54 | 0 | -264.38 | 0 | 48.25 | 179.43 | -475.94 | 0 | -475.94 | 0 | -56.08 | 0 | -40.91 | 0 | 0.09 | -52.63 | -404.90 | 0 | 35.46 | -3.54 | 55.52 | -6.86 | 44.48 | 10.13 | 4.10 | -8.18 | 91.09 | 140.72 |
| 2019 (6) | -2.09 | 0 | -7.14 | 0 | -71.95 | 0 | 17.27 | -75.63 | -120.53 | 0 | -120.53 | 0 | -32.57 | 0 | -23.17 | 0 | 0.19 | 216.67 | -94.85 | 0 | 36.76 | -9.81 | 59.62 | 6.39 | 40.38 | -8.14 | 4.46 | -13.85 | 37.84 | -58.51 |
| 2018 (5) | -5.26 | 0 | -124.93 | 0 | -412.90 | 0 | 70.86 | 338.05 | -736.46 | 0 | -734.93 | 0 | -48.93 | 0 | -40.73 | 0 | 0.06 | -71.43 | -644.37 | 0 | 40.76 | 332.24 | 56.04 | -37.39 | 43.96 | 318.7 | 5.18 | 0 | 91.21 | 339.78 |
| 2017 (4) | -0.99 | 0 | 18.34 | -56.55 | -23.88 | 0 | 16.18 | 15.87 | -26.68 | 0 | -27.83 | 0 | -6.56 | 0 | -5.75 | 0 | 0.21 | -48.78 | -6.68 | 0 | 9.43 | -39.59 | 89.50 | 111.97 | 10.50 | -81.83 | 0.00 | 0 | 20.74 | 14.84 |
| 2016 (3) | -0.23 | 0 | 42.21 | 54.28 | -1.45 | 0 | 13.96 | -29.55 | -3.41 | 0 | -3.41 | 0 | -1.69 | 0 | -1.27 | 0 | 0.41 | 2.5 | 13.20 | 0 | 15.61 | -48.31 | 42.22 | -53.1 | 57.78 | 479.12 | 0.00 | 0 | 18.06 | -39.42 |
| 2015 (2) | -2.65 | 0 | 27.36 | 451.61 | -35.47 | 0 | 19.82 | -2.6 | -39.35 | 0 | -39.35 | 0 | -23.30 | 0 | -15.43 | 0 | 0.40 | 29.03 | -15.43 | 0 | 30.20 | -55.03 | 90.02 | -12.16 | 9.98 | 0 | 0.00 | 0 | 29.81 | -20.76 |
| 2014 (1) | -3.96 | 0 | 4.96 | 0 | -66.77 | 0 | 20.35 | -20.67 | -65.11 | 0 | -65.11 | 0 | -28.48 | 0 | -19.77 | 0 | 0.31 | 29.17 | -39.77 | 0 | 67.15 | 207.6 | 102.49 | 3.25 | -2.49 | 0 | 0.00 | 0 | 37.62 | -20.04 |
