- 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) | -0.41 | 33.87 | 42.25 | 7.38 | 1266.67 | 179.61 | -13.03 | 44.88 | 61.76 | -13.20 | 40.75 | 58.8 | -12.87 | 40.75 | 53.92 | -2.91 | 32.17 | 30.88 | -1.12 | 38.46 | 41.97 | 0.10 | 11.11 | 42.86 | -1.67 | 79.78 | 89.98 | 123.62 | 5.25 | 20.31 | 100.00 | -7.69 | -6.06 | -0.00 | 100.0 | 100.0 | 37.62 | -12.39 | -25.42 |
| 24Q2 (19) | -0.62 | 22.5 | -138.46 | 0.54 | 108.26 | -93.56 | -23.64 | 28.88 | -93.14 | -22.28 | 28.24 | -101.08 | -21.72 | 32.29 | -179.54 | -4.29 | 18.9 | -187.92 | -1.82 | 22.55 | -208.47 | 0.09 | 12.5 | -10.0 | -8.26 | 43.96 | -1145.57 | 117.45 | 4.51 | 17.04 | 108.33 | 1.56 | -5.21 | -4.17 | 37.5 | 41.67 | 42.94 | -12.22 | 4.15 |
| 24Q1 (18) | -0.80 | 3.61 | -300.0 | -6.54 | -223.16 | -145.64 | -33.24 | 5.49 | -384.55 | -31.05 | 16.71 | -361.37 | -32.08 | 8.68 | -432.01 | -5.29 | -2.12 | -360.0 | -2.35 | 1.26 | -422.22 | 0.08 | 14.29 | -20.0 | -14.74 | 26.3 | -416.99 | 112.38 | 6.3 | 12.85 | 106.67 | 13.33 | 6.67 | -6.67 | -213.33 | 0 | 48.92 | 18.14 | 17.48 |
| 23Q4 (17) | -0.83 | -16.9 | -432.0 | 5.31 | 157.28 | -78.46 | -35.17 | -3.23 | -708.48 | -37.28 | -16.35 | -601.08 | -35.13 | -25.78 | -672.15 | -5.18 | -23.04 | -478.1 | -2.38 | -23.32 | -393.83 | 0.07 | 0.0 | -36.36 | -20.00 | -19.98 | -220.77 | 105.72 | 2.89 | 7.84 | 94.12 | -11.59 | 15.03 | 5.88 | 191.18 | -67.65 | 41.41 | -17.9 | 11.29 |
| 23Q3 (16) | -0.71 | -173.08 | -297.22 | -9.27 | -210.62 | -136.2 | -34.07 | -178.35 | -598.1 | -32.04 | -189.17 | -424.29 | -27.93 | -259.46 | -447.39 | -4.21 | -182.55 | -300.48 | -1.93 | -227.12 | -270.8 | 0.07 | -30.0 | -41.67 | -16.67 | -2210.13 | -193.02 | 102.75 | 2.39 | -2.29 | 106.45 | -6.85 | 50.81 | -6.45 | 9.68 | -121.94 | 50.44 | 22.34 | 47.06 |
| 23Q2 (15) | -0.26 | -30.0 | -244.44 | 8.38 | -41.52 | -62.57 | -12.24 | -78.43 | -380.09 | -11.08 | -64.64 | -330.83 | -7.77 | -28.86 | -308.87 | -1.49 | -29.57 | -239.25 | -0.59 | -31.11 | -198.33 | 0.10 | 0.0 | -23.08 | 0.79 | -83.01 | -93.72 | 100.35 | 0.77 | -11.06 | 114.29 | 14.29 | 14.29 | -7.14 | 0 | -157.14 | 41.23 | -0.98 | 25.7 |
| 23Q1 (14) | -0.20 | -180.0 | -132.79 | 14.33 | -41.87 | -48.56 | -6.86 | -218.69 | -161.75 | -6.73 | -190.46 | -150.15 | -6.03 | -198.21 | -156.15 | -1.15 | -183.94 | -131.42 | -0.45 | -155.56 | -127.44 | 0.10 | -9.09 | -28.57 | 4.65 | -71.92 | -76.12 | 99.58 | 1.58 | -24.81 | 100.00 | 22.22 | 19.05 | -0.00 | -100.0 | -100.0 | 41.64 | 11.91 | 30.82 |
| 22Q4 (13) | 0.25 | -30.56 | -35.9 | 24.65 | -3.75 | -3.14 | 5.78 | -15.5 | -32.87 | 7.44 | -24.7 | 9.25 | 6.14 | -23.63 | -23.63 | 1.37 | -34.76 | -43.85 | 0.81 | -28.32 | -26.36 | 0.11 | -8.33 | -8.33 | 16.56 | -7.59 | 18.12 | 98.03 | -6.78 | -32.92 | 81.82 | 15.91 | -35.71 | 18.18 | -38.18 | 166.67 | 37.21 | 8.48 | 13.76 |
| 22Q3 (12) | 0.36 | 100.0 | -21.74 | 25.61 | 14.38 | -12.23 | 6.84 | 56.52 | -47.02 | 9.88 | 105.83 | -13.49 | 8.04 | 116.13 | -6.4 | 2.10 | 96.26 | -28.57 | 1.13 | 88.33 | -13.74 | 0.12 | -7.69 | -14.29 | 17.92 | 42.56 | 1.93 | 105.16 | -6.8 | -29.29 | 70.59 | -29.41 | -35.55 | 29.41 | 135.29 | 305.88 | 34.30 | 4.57 | 12.94 |
| 22Q2 (11) | 0.18 | -70.49 | -62.5 | 22.39 | -19.63 | -17.8 | 4.37 | -60.67 | -61.29 | 4.80 | -64.23 | -54.97 | 3.72 | -65.36 | -57.63 | 1.07 | -70.77 | -66.03 | 0.60 | -63.41 | -57.14 | 0.13 | -7.14 | -13.33 | 12.57 | -35.44 | -25.0 | 112.83 | -14.81 | -21.94 | 100.00 | 19.05 | -4.76 | 12.50 | -21.88 | 350.0 | 32.80 | 3.05 | 12.71 |
| 22Q1 (10) | 0.61 | 56.41 | 64.86 | 27.86 | 9.47 | 17.8 | 11.11 | 29.04 | 38.36 | 13.42 | 97.06 | 86.65 | 10.74 | 33.58 | 50.84 | 3.66 | 50.0 | 46.99 | 1.64 | 49.09 | 43.86 | 0.14 | 16.67 | 0.0 | 19.47 | 38.87 | 48.97 | 132.44 | -9.37 | -8.05 | 84.00 | -34.0 | -22.0 | 16.00 | 158.67 | 308.0 | 31.83 | -2.69 | 10.37 |
| 21Q4 (9) | 0.39 | -15.22 | 95.0 | 25.45 | -12.78 | 6.57 | 8.61 | -33.31 | 63.69 | 6.81 | -40.37 | 44.89 | 8.04 | -6.4 | 56.42 | 2.44 | -17.01 | 83.46 | 1.10 | -16.03 | 66.67 | 0.12 | -14.29 | 9.09 | 14.02 | -20.25 | 5.57 | 146.14 | -1.74 | 2.6 | 127.27 | 16.21 | 9.09 | -27.27 | -90.91 | -63.64 | 32.71 | 7.7 | -13.85 |
| 21Q3 (8) | 0.46 | -4.17 | 43.75 | 29.18 | 7.12 | -6.68 | 12.91 | 14.35 | 19.32 | 11.42 | 7.13 | 7.03 | 8.59 | -2.16 | -2.05 | 2.94 | -6.67 | 32.43 | 1.31 | -6.43 | 29.7 | 0.14 | -6.67 | 40.0 | 17.58 | 4.89 | -11.35 | 148.73 | 2.9 | 1.63 | 109.52 | 4.31 | 9.52 | -14.29 | -185.71 | 0 | 30.37 | 4.36 | -10.68 |
| 21Q2 (7) | 0.48 | 29.73 | 33.33 | 27.24 | 15.18 | 12.66 | 11.29 | 40.6 | 85.69 | 10.66 | 48.26 | 86.04 | 8.78 | 23.31 | 89.22 | 3.15 | 26.51 | 22.57 | 1.40 | 22.81 | 6.87 | 0.15 | 7.14 | -31.82 | 16.76 | 28.23 | 18.7 | 144.54 | 0.35 | -4.74 | 105.00 | -2.5 | -1.56 | -5.00 | 35.0 | 25.0 | 29.10 | 0.9 | -9.35 |
| 21Q1 (6) | 0.37 | 85.0 | 0 | 23.65 | -0.96 | 0 | 8.03 | 52.66 | 0 | 7.19 | 52.98 | 0 | 7.12 | 38.52 | 0 | 2.49 | 87.22 | 0 | 1.14 | 72.73 | 0 | 0.14 | 27.27 | 0 | 13.07 | -1.58 | 0 | 144.04 | 1.13 | 0 | 107.69 | -7.69 | 0 | -7.69 | 53.85 | 0 | 28.84 | -24.05 | 0 |
| 20Q4 (5) | 0.20 | -37.5 | 0 | 23.88 | -23.63 | 0 | 5.26 | -51.39 | 0 | 4.70 | -55.95 | 0 | 5.14 | -41.39 | 0 | 1.33 | -40.09 | 0 | 0.66 | -34.65 | 0 | 0.11 | 10.0 | 0 | 13.28 | -33.03 | 0 | 142.43 | -2.67 | 0 | 116.67 | 16.67 | 0 | -16.67 | 0 | 0 | 37.97 | 11.68 | 0 |
| 20Q3 (4) | 0.32 | -11.11 | 0.0 | 31.27 | 29.32 | 0.0 | 10.82 | 77.96 | 0.0 | 10.67 | 86.21 | 0.0 | 8.77 | 89.01 | 0.0 | 2.22 | -13.62 | 0.0 | 1.01 | -22.9 | 0.0 | 0.10 | -54.55 | 0.0 | 19.83 | 40.44 | 0.0 | 146.34 | -3.56 | 0.0 | 100.00 | -6.25 | 0.0 | 0.00 | 100.0 | 0.0 | 34.00 | 5.92 | 0.0 |
| 20Q2 (3) | 0.36 | 0 | 0.0 | 24.18 | 0 | 0.0 | 6.08 | 0 | 0.0 | 5.73 | 0 | 0.0 | 4.64 | 0 | 0.0 | 2.57 | 0 | 0.0 | 1.31 | 0 | 0.0 | 0.22 | 0 | 0.0 | 14.12 | 0 | 0.0 | 151.74 | 0 | 0.0 | 106.67 | 0 | 0.0 | -6.67 | 0 | 0.0 | 32.10 | 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) | -2.00 | 0 | 5.65 | -77.58 | -20.07 | 0 | 11.09 | 73.34 | -19.69 | 0 | -17.21 | 0 | -11.95 | 0 | -5.31 | 0 | 0.34 | -33.33 | -6.33 | 0 | 105.72 | 7.84 | 102.30 | 29.44 | -2.30 | 0 | 0.08 | 10.32 | 43.39 | 28.07 |
| 2022 (9) | 1.38 | -19.3 | 25.20 | -4.65 | 7.15 | -30.38 | 6.40 | 22.2 | 9.03 | -0.77 | 7.27 | -10.8 | 8.15 | -26.11 | 4.19 | -15.69 | 0.51 | -7.27 | 16.72 | 8.43 | 98.03 | -32.92 | 79.03 | -30.71 | 20.97 | 0 | 0.07 | -50.0 | 33.88 | 12.19 |
| 2021 (8) | 1.71 | 96.55 | 26.43 | 2.52 | 10.27 | 46.92 | 5.23 | -23.59 | 9.10 | 37.05 | 8.15 | 41.99 | 11.03 | 81.12 | 4.97 | 66.78 | 0.55 | 30.95 | 15.42 | 1.05 | 146.14 | 2.6 | 114.06 | 7.73 | -12.50 | 0 | 0.15 | 0 | 30.20 | -11.23 |
| 2020 (7) | 0.87 | 0 | 25.78 | 44.02 | 6.99 | 0 | 6.85 | -22.67 | 6.64 | 0 | 5.74 | 0 | 6.09 | 0 | 2.98 | 0 | 0.42 | 20.0 | 15.26 | 133.69 | 142.43 | -9.56 | 105.88 | 29.41 | -5.88 | 0 | 0.00 | 0 | 34.02 | -5.16 |
| 2019 (6) | -0.66 | 0 | 17.90 | -25.2 | -4.15 | 0 | 8.86 | 19.35 | -5.03 | 0 | -5.14 | 0 | -4.58 | 0 | -1.11 | 0 | 0.35 | -14.63 | 6.53 | -50.83 | 157.49 | 3.5 | 81.82 | -26.36 | 18.18 | 0 | 0.00 | 0 | 35.87 | 15.34 |
| 2018 (5) | 0.49 | 0 | 23.93 | 86.08 | 3.92 | 0 | 7.42 | 4.11 | 3.61 | 0 | 3.24 | 0 | 3.41 | 0 | 2.00 | 0 | 0.41 | 2.5 | 13.28 | 588.08 | 152.16 | -9.48 | 111.11 | 23.46 | -11.11 | 0 | 0.00 | 0 | 31.10 | 2.67 |
| 2017 (4) | -0.99 | 0 | 12.86 | -43.89 | -6.86 | 0 | 7.13 | 9.31 | -7.78 | 0 | -6.37 | 0 | -6.74 | 0 | -1.78 | 0 | 0.40 | -4.76 | 1.93 | -84.78 | 168.09 | 2.28 | 90.00 | -37.93 | 12.50 | 0 | 0.00 | 0 | 30.29 | 8.68 |
| 2016 (3) | 0.41 | -88.29 | 22.92 | 6.26 | 5.18 | 5080.0 | 6.52 | 8.91 | 3.66 | -84.19 | 2.51 | -87.15 | 2.76 | -87.6 | 1.87 | -77.79 | 0.42 | 10.53 | 12.68 | -60.79 | 164.34 | 0.45 | 145.00 | 16720.0 | -40.00 | 0 | 0.00 | 0 | 27.87 | -4.46 |
| 2015 (2) | 3.50 | -38.81 | 21.57 | -20.23 | 0.10 | -98.72 | 5.99 | 1.02 | 23.15 | -18.0 | 19.53 | -21.06 | 22.25 | -44.21 | 8.42 | -42.09 | 0.38 | -26.92 | 32.34 | -15.01 | 163.61 | -32.51 | 0.86 | -96.89 | 99.14 | 37.13 | 0.00 | 0 | 29.17 | 4.63 |
| 2014 (1) | 5.72 | 0 | 27.04 | 0 | 7.82 | 0 | 5.93 | 0 | 28.23 | 0 | 24.74 | 0 | 39.88 | 0 | 14.54 | 0 | 0.52 | 0 | 38.05 | 0 | 242.41 | 0 | 27.70 | 0 | 72.30 | 0 | 0.00 | 0 | 27.88 | 0 |
