- 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) | 0.30 | -16.67 | 30.43 | 18.13 | -6.79 | 25.55 | 7.81 | -14.36 | 270.14 | 9.58 | -25.97 | 14.46 | 8.25 | -16.16 | 18.03 | 2.00 | -19.35 | 25.0 | 1.58 | -17.28 | 29.51 | 0.19 | 0.0 | 11.76 | 11.48 | -21.64 | 9.54 | 23.00 | -21.69 | -1.5 | 81.58 | 16.54 | 249.62 | 18.42 | -38.6 | -74.88 | 0.00 | -100.0 | -100.0 |
| 24Q2 (19) | 0.36 | 111.76 | -7.69 | 19.45 | 41.76 | 14.75 | 9.12 | 929.09 | 27.37 | 12.94 | 64.63 | 15.74 | 9.84 | 61.84 | 11.19 | 2.48 | 108.4 | -9.49 | 1.91 | 103.19 | -1.04 | 0.19 | 26.67 | -13.64 | 14.65 | 45.05 | 14.99 | 29.37 | -5.87 | -26.5 | 70.00 | 636.67 | 10.3 | 30.00 | -74.44 | -17.89 | 15.98 | -40.88 | -8.58 |
| 24Q1 (18) | 0.17 | 312.5 | -45.16 | 13.72 | -8.96 | -28.76 | -1.10 | -147.62 | -110.93 | 7.86 | 303.1 | -15.85 | 6.08 | 304.71 | -16.71 | 1.19 | 316.36 | -45.16 | 0.94 | 308.89 | -41.25 | 0.15 | 0.0 | -31.82 | 10.10 | 826.62 | -6.39 | 31.20 | 45.93 | -30.15 | -13.04 | 79.5 | -111.91 | 117.39 | -28.26 | 1743.48 | 27.03 | 22.75 | 57.43 |
| 23Q4 (17) | -0.08 | -134.78 | -118.18 | 15.07 | 4.36 | -30.87 | 2.31 | 9.48 | -82.72 | -3.87 | -146.24 | -134.8 | -2.97 | -142.49 | -132.21 | -0.55 | -134.38 | -118.39 | -0.45 | -136.89 | -119.91 | 0.15 | -11.76 | -37.5 | -1.39 | -113.26 | -111.12 | 21.38 | -8.44 | -22.37 | -63.64 | -372.73 | -153.19 | 163.64 | 123.14 | 933.06 | 22.02 | 8.42 | 42.43 |
| 23Q3 (16) | 0.23 | -41.03 | -72.62 | 14.44 | -14.81 | -31.95 | 2.11 | -70.53 | -81.62 | 8.37 | -25.13 | -62.42 | 6.99 | -21.02 | -61.72 | 1.60 | -41.61 | -73.42 | 1.22 | -36.79 | -71.36 | 0.17 | -22.73 | -26.09 | 10.48 | -17.74 | -55.56 | 23.35 | -41.57 | -37.73 | 23.33 | -63.23 | -54.17 | 73.33 | 100.7 | 52.2 | 20.31 | 16.19 | 12.09 |
| 23Q2 (15) | 0.39 | 25.81 | -32.76 | 16.95 | -11.99 | -19.86 | 7.16 | -28.83 | -40.88 | 11.18 | 19.7 | -32.41 | 8.85 | 21.23 | -27.99 | 2.74 | 26.27 | -34.13 | 1.93 | 20.62 | -32.75 | 0.22 | 0.0 | -4.35 | 12.74 | 18.07 | -28.67 | 39.96 | -10.54 | -11.9 | 63.46 | -42.06 | -13.65 | 36.54 | 611.54 | 37.85 | 17.48 | 1.81 | -0.06 |
| 23Q1 (14) | 0.31 | -29.55 | -40.38 | 19.26 | -11.65 | -3.6 | 10.06 | -24.76 | -0.2 | 9.34 | -16.01 | -38.95 | 7.30 | -20.82 | -40.26 | 2.17 | -27.42 | -38.87 | 1.60 | -29.2 | -37.74 | 0.22 | -8.33 | 4.76 | 10.79 | -13.68 | -35.39 | 44.67 | 62.2 | 1.78 | 109.52 | -8.46 | 67.94 | -7.14 | 63.64 | -121.43 | 17.17 | 11.06 | -11.4 |
| 22Q4 (13) | 0.44 | -47.62 | -8.33 | 21.80 | 2.73 | 36.76 | 13.37 | 16.46 | 85.69 | 11.12 | -50.07 | 48.07 | 9.22 | -49.51 | -12.69 | 2.99 | -50.33 | -6.85 | 2.26 | -46.95 | -3.83 | 0.24 | 4.35 | 9.09 | 12.50 | -46.99 | 41.08 | 27.54 | -26.56 | -16.09 | 119.64 | 135.01 | 26.68 | -19.64 | -140.77 | -807.14 | 15.46 | -14.68 | 5.03 |
| 22Q3 (12) | 0.84 | 44.83 | 33.33 | 21.22 | 0.33 | 29.63 | 11.48 | -5.2 | 64.23 | 22.27 | 34.64 | 90.5 | 18.26 | 48.58 | 45.5 | 6.02 | 44.71 | 33.19 | 4.26 | 48.43 | 33.12 | 0.23 | 0.0 | -8.0 | 23.58 | 32.03 | 85.52 | 37.50 | -17.33 | -8.0 | 50.91 | -30.73 | -13.32 | 48.18 | 81.78 | 21.42 | 18.12 | 3.6 | -7.12 |
| 22Q2 (11) | 0.58 | 11.54 | 241.18 | 21.15 | 5.86 | 29.99 | 12.11 | 20.14 | 97.55 | 16.54 | 8.1 | 291.94 | 12.29 | 0.57 | 269.07 | 4.16 | 17.18 | 210.45 | 2.87 | 11.67 | 211.96 | 0.23 | 9.52 | -14.81 | 17.86 | 6.95 | 238.9 | 45.36 | 3.35 | 4.61 | 73.49 | 12.69 | -50.28 | 26.51 | -20.48 | 155.42 | 17.49 | -9.75 | -1.07 |
| 22Q1 (10) | 0.52 | 8.33 | 13.04 | 19.98 | 25.35 | 21.46 | 10.08 | 40.0 | 24.44 | 15.30 | 103.73 | 64.16 | 12.22 | 15.72 | 31.12 | 3.55 | 10.59 | -2.47 | 2.57 | 9.36 | 4.05 | 0.21 | -4.55 | -19.23 | 16.70 | 88.49 | 58.29 | 43.89 | 33.73 | -12.17 | 65.22 | -30.95 | -23.65 | 33.33 | 1100.0 | 166.67 | 19.38 | 31.66 | 8.45 |
| 21Q4 (9) | 0.48 | -23.81 | 65.52 | 15.94 | -2.63 | 3.91 | 7.20 | 3.0 | -8.28 | 7.51 | -35.76 | 14.83 | 10.56 | -15.86 | 87.9 | 3.21 | -28.98 | 41.41 | 2.35 | -26.56 | 45.96 | 0.22 | -12.0 | -24.14 | 8.86 | -30.29 | 14.03 | 32.82 | -19.48 | -28.28 | 94.44 | 60.81 | -19.38 | 2.78 | -93.0 | 113.89 | 14.72 | -24.55 | -8.91 |
| 21Q3 (8) | 0.63 | 270.59 | 65.79 | 16.37 | 0.61 | 12.74 | 6.99 | 14.03 | 9.39 | 11.69 | 177.01 | 49.87 | 12.55 | 276.88 | 60.9 | 4.52 | 237.31 | 47.23 | 3.20 | 247.83 | 44.14 | 0.25 | -7.41 | -10.71 | 12.71 | 141.18 | 38.91 | 40.76 | -6.0 | 13.1 | 58.73 | -60.27 | -28.42 | 39.68 | 182.97 | 121.09 | 19.51 | 10.35 | 11.36 |
| 21Q2 (7) | 0.17 | -63.04 | 183.33 | 16.27 | -1.09 | 21.78 | 6.13 | -24.32 | 113.59 | 4.22 | -54.72 | 172.26 | 3.33 | -64.27 | 104.29 | 1.34 | -63.19 | 168.0 | 0.92 | -62.75 | 155.56 | 0.27 | 3.85 | 22.73 | 5.27 | -50.05 | 44.38 | 43.36 | -13.23 | 6.35 | 147.83 | 73.06 | -19.37 | -47.83 | -482.61 | 42.61 | 17.68 | -1.06 | 0 |
| 21Q1 (6) | 0.46 | 58.62 | 170.59 | 16.45 | 7.24 | 22.94 | 8.10 | 3.18 | 212.74 | 9.32 | 42.51 | 100.43 | 9.32 | 65.84 | 100.43 | 3.64 | 60.35 | 165.69 | 2.47 | 53.42 | 149.49 | 0.26 | -10.34 | 23.81 | 10.55 | 35.78 | 59.13 | 49.97 | 9.2 | 22.51 | 85.42 | -27.08 | 45.21 | 12.50 | 162.5 | -73.44 | 17.87 | 10.58 | -18.4 |
| 20Q4 (5) | 0.29 | -23.68 | 163.64 | 15.34 | 5.65 | 12.88 | 7.85 | 22.85 | 104.96 | 6.54 | -16.15 | 154.47 | 5.62 | -27.95 | 118.68 | 2.27 | -26.06 | 152.22 | 1.61 | -27.48 | 136.76 | 0.29 | 3.57 | 11.54 | 7.77 | -15.08 | 33.51 | 45.76 | 26.97 | 27.18 | 117.14 | 42.77 | -21.9 | -20.00 | -211.43 | 60.0 | 16.16 | -7.76 | -17.13 |
| 20Q3 (4) | 0.38 | 533.33 | 0.0 | 14.52 | 8.68 | 0.0 | 6.39 | 122.65 | 0.0 | 7.80 | 403.23 | 0.0 | 7.80 | 378.53 | 0.0 | 3.07 | 514.0 | 0.0 | 2.22 | 516.67 | 0.0 | 0.28 | 27.27 | 0.0 | 9.15 | 150.68 | 0.0 | 36.04 | -11.6 | 0.0 | 82.05 | -55.24 | 0.0 | 17.95 | 121.54 | 0.0 | 17.52 | 0 | 0.0 |
| 20Q2 (3) | 0.06 | -64.71 | 0.0 | 13.36 | -0.15 | 0.0 | 2.87 | 10.81 | 0.0 | 1.55 | -66.67 | 0.0 | 1.63 | -64.95 | 0.0 | 0.50 | -63.5 | 0.0 | 0.36 | -63.64 | 0.0 | 0.22 | 4.76 | 0.0 | 3.65 | -44.95 | 0.0 | 40.77 | -0.05 | 0.0 | 183.33 | 211.67 | 0.0 | -83.33 | -277.08 | 0.0 | 0.00 | -100.0 | 0.0 |
| 20Q1 (2) | 0.17 | 54.55 | 0.0 | 13.38 | -1.55 | 0.0 | 2.59 | -32.38 | 0.0 | 4.65 | 80.93 | 0.0 | 4.65 | 80.93 | 0.0 | 1.37 | 52.22 | 0.0 | 0.99 | 45.59 | 0.0 | 0.21 | -19.23 | 0.0 | 6.63 | 13.92 | 0.0 | 40.79 | 13.37 | 0.0 | 58.82 | -60.78 | 0.0 | 47.06 | 194.12 | 0.0 | 21.90 | 12.31 | 0.0 |
| 19Q4 (1) | 0.11 | 0.0 | 0.0 | 13.59 | 0.0 | 0.0 | 3.83 | 0.0 | 0.0 | 2.57 | 0.0 | 0.0 | 2.57 | 0.0 | 0.0 | 0.90 | 0.0 | 0.0 | 0.68 | 0.0 | 0.0 | 0.26 | 0.0 | 0.0 | 5.82 | 0.0 | 0.0 | 35.98 | 0.0 | 0.0 | 150.00 | 0.0 | 0.0 | -50.00 | 0.0 | 0.0 | 19.50 | 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) | 0.85 | -64.29 | 16.71 | -20.69 | 5.97 | -49.45 | 1.54 | 36.47 | 7.22 | -55.71 | 5.79 | -55.43 | 5.72 | -64.12 | 4.60 | -62.48 | 0.79 | -15.96 | 8.99 | -49.07 | 21.38 | -22.37 | 82.30 | 13.79 | 17.70 | -36.04 | 0.37 | -16.17 | 18.87 | 7.46 |
| 2022 (9) | 2.38 | 36.78 | 21.07 | 29.58 | 11.81 | 66.81 | 1.13 | 16.83 | 16.30 | 99.75 | 12.99 | 46.78 | 15.94 | 26.41 | 12.26 | 34.58 | 0.94 | -8.74 | 17.65 | 89.38 | 27.54 | -16.09 | 72.33 | -16.85 | 27.67 | 112.58 | 0.44 | 3.09 | 17.56 | 0.23 |
| 2021 (8) | 1.74 | 93.33 | 16.26 | 13.87 | 7.08 | 34.35 | 0.97 | -30.74 | 8.16 | 50.28 | 8.85 | 70.85 | 12.61 | 79.63 | 9.11 | 82.57 | 1.03 | 7.29 | 9.32 | 32.57 | 32.82 | -28.28 | 86.98 | -10.24 | 13.02 | 320.91 | 0.43 | 37.92 | 17.52 | -5.81 |
| 2020 (7) | 0.90 | 2.27 | 14.28 | 2.96 | 5.27 | 28.54 | 1.40 | -41.87 | 5.43 | 10.37 | 5.18 | 5.5 | 7.02 | 1.3 | 4.99 | -1.19 | 0.96 | -6.8 | 7.03 | -7.13 | 45.76 | 27.18 | 96.91 | 15.79 | 3.09 | -81.03 | 0.31 | -30.28 | 18.60 | -1.17 |
| 2019 (6) | 0.88 | -56.86 | 13.87 | -23.96 | 4.10 | -43.76 | 2.40 | 32.36 | 4.92 | -57.51 | 4.91 | -57.6 | 6.93 | -57.54 | 5.05 | -54.5 | 1.03 | 8.42 | 7.57 | -44.91 | 35.98 | -7.67 | 83.70 | 32.78 | 16.30 | -55.89 | 0.45 | -7.89 | 18.82 | -5.57 |
| 2018 (5) | 2.04 | 101.98 | 18.24 | 0.72 | 7.29 | -16.69 | 1.81 | -28.26 | 11.58 | 81.5 | 11.58 | 98.97 | 16.32 | 111.13 | 11.10 | 110.23 | 0.95 | 5.56 | 13.74 | 47.9 | 38.97 | -32.23 | 63.03 | -54.01 | 36.97 | 0 | 0.48 | 0 | 19.93 | 4.67 |
| 2017 (4) | 1.01 | -75.54 | 18.11 | -23.59 | 8.75 | -46.02 | 2.53 | 32.29 | 6.38 | -61.26 | 5.82 | -65.32 | 7.73 | -76.86 | 5.28 | -77.11 | 0.90 | -35.71 | 9.29 | -49.97 | 57.50 | 42.15 | 137.07 | 39.33 | -37.07 | 0 | 0.00 | 0 | 19.04 | 21.97 |
| 2016 (3) | 4.13 | 21.47 | 23.70 | 15.67 | 16.21 | 22.34 | 1.91 | 1.72 | 16.47 | 15.82 | 16.78 | 23.38 | 33.41 | -19.26 | 23.07 | -4.71 | 1.40 | -17.65 | 18.57 | 13.65 | 40.45 | -20.45 | 98.38 | 5.62 | 1.62 | -76.33 | 0.00 | 0 | 15.61 | 15.72 |
| 2015 (2) | 3.40 | 0 | 20.49 | 45.42 | 13.25 | 229.6 | 1.88 | -59.82 | 14.22 | 187.27 | 13.60 | 0 | 41.38 | 220.28 | 24.21 | 247.35 | 1.70 | 27.82 | 16.34 | 60.35 | 50.85 | -50.01 | 93.14 | 14.99 | 6.86 | -63.89 | 0.00 | 0 | 13.49 | -22.91 |
| 2014 (1) | -0.47 | 0 | 14.09 | 0 | 4.02 | 0 | 4.67 | -45.27 | 4.95 | 0 | -2.50 | 0 | 12.92 | 0 | 6.97 | 0 | 1.33 | 20.91 | 10.19 | 329.96 | 101.72 | 11.93 | 81.00 | -34.51 | 19.00 | 0 | 0.00 | 0 | 17.50 | -4.21 |
