- 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) | 0.13 | -18.75 | 116.67 | 23.36 | -6.63 | 54.19 | 10.67 | 3.29 | 3779.31 | 11.28 | -23.37 | 86.75 | 11.28 | -23.58 | 86.75 | 2.04 | -19.37 | 110.31 | 1.72 | -19.25 | 109.76 | 0.15 | 7.14 | 15.38 | 24.21 | -14.78 | 11.11 | 19.23 | -6.88 | -12.23 | 90.91 | 31.31 | 0 | 9.09 | -70.45 | -90.91 | 45.80 | 0.93 | -1.97 |
| 24Q2 (19) | 0.16 | 6.67 | 900.0 | 25.02 | 18.13 | 164.76 | 10.33 | 30.26 | 240.35 | 14.72 | 3.52 | 748.46 | 14.76 | 3.8 | 750.22 | 2.53 | 5.42 | 916.13 | 2.13 | 5.45 | 1068.18 | 0.14 | 0.0 | 27.27 | 28.41 | 1.79 | 73.02 | 20.65 | 2.94 | -9.63 | 69.23 | 18.68 | -72.31 | 30.77 | -26.15 | 120.51 | 45.38 | 0.58 | -10.14 |
| 24Q1 (18) | 0.15 | -40.0 | 183.33 | 21.18 | -34.53 | 335.07 | 7.93 | -61.75 | 126.59 | 14.22 | -28.4 | 152.71 | 14.22 | -28.4 | 152.71 | 2.40 | -39.39 | 183.04 | 2.02 | -38.6 | 186.32 | 0.14 | -12.5 | 55.56 | 27.91 | -10.86 | 0 | 20.06 | -3.42 | -6.0 | 58.33 | -41.67 | -48.96 | 41.67 | 933.33 | 391.67 | 45.12 | 14.87 | -27.53 |
| 23Q4 (17) | 0.25 | 316.67 | 186.21 | 32.35 | 113.53 | 227.71 | 20.73 | 7248.28 | 141.39 | 19.86 | 228.81 | 141.53 | 19.86 | 228.81 | 141.53 | 3.96 | 308.25 | 189.39 | 3.29 | 301.22 | 191.39 | 0.16 | 23.08 | 100.0 | 31.31 | 43.69 | 406.96 | 20.77 | -5.2 | -9.46 | 100.00 | 0 | -4.17 | -5.00 | -105.0 | -15.0 | 39.28 | -15.92 | -44.7 |
| 23Q3 (16) | 0.06 | 400.0 | 220.0 | 15.15 | 60.32 | 576.34 | -0.29 | 96.06 | 98.11 | 6.04 | 366.08 | 192.92 | 6.04 | 366.08 | 192.92 | 0.97 | 412.9 | 224.36 | 0.82 | 472.73 | 234.43 | 0.13 | 18.18 | 30.0 | 21.79 | 32.7 | 1.16 | 21.91 | -4.11 | 4.28 | 0.00 | -100.0 | -100.0 | 100.00 | 166.67 | 166.67 | 46.72 | -7.49 | -14.59 |
| 23Q2 (15) | -0.02 | 88.89 | -125.0 | 9.45 | 204.88 | -46.28 | -7.36 | 75.32 | -331.45 | -2.27 | 91.59 | -125.0 | -2.27 | 91.59 | -125.0 | -0.31 | 89.27 | -125.2 | -0.22 | 90.6 | -121.36 | 0.11 | 22.22 | 0.0 | 16.42 | 0 | -53.27 | 22.85 | 7.08 | -1.25 | 250.00 | 118.75 | 775.0 | -150.00 | -950.0 | -362.5 | 50.50 | -18.89 | 2.79 |
| 23Q1 (14) | -0.18 | 37.93 | -700.0 | -9.01 | 64.43 | -171.34 | -29.82 | 40.46 | -1664.5 | -26.98 | 43.58 | -930.15 | -26.98 | 43.58 | -930.15 | -2.89 | 34.76 | -714.89 | -2.34 | 35.0 | -670.73 | 0.09 | 12.5 | -25.0 | 0.00 | 100.0 | -100.0 | 21.34 | -6.97 | -13.25 | 114.29 | 9.52 | 442.86 | -14.29 | -228.57 | -110.71 | 62.26 | -12.35 | 30.25 |
| 22Q4 (13) | -0.29 | -480.0 | -341.67 | -25.33 | -1230.8 | -226.33 | -50.08 | -226.04 | -709.99 | -47.82 | -635.69 | -575.82 | -47.82 | -635.69 | -575.82 | -4.43 | -467.95 | -362.13 | -3.60 | -490.16 | -364.71 | 0.08 | -20.0 | -38.46 | -10.20 | -147.35 | -131.28 | 22.94 | 9.19 | -17.36 | 104.35 | -58.26 | 17.39 | -4.35 | 97.1 | -119.57 | 71.03 | 29.85 | 69.36 |
| 22Q3 (12) | -0.05 | -162.5 | -125.0 | 2.24 | -87.27 | -91.44 | -15.36 | -583.02 | -204.07 | -6.50 | -171.59 | -138.74 | -6.50 | -171.59 | -138.74 | -0.78 | -163.41 | -125.83 | -0.61 | -159.22 | -125.42 | 0.10 | -9.09 | -28.57 | 21.54 | -38.7 | -42.56 | 21.01 | -9.2 | -23.15 | 250.00 | 775.0 | 185.71 | -150.00 | -362.5 | -1300.0 | 54.70 | 11.34 | 37.58 |
| 22Q2 (11) | 0.08 | 166.67 | -55.56 | 17.59 | 39.27 | -27.79 | 3.18 | 288.17 | -75.89 | 9.08 | 179.38 | -37.12 | 9.08 | 179.38 | -37.16 | 1.23 | 161.7 | -54.28 | 1.03 | 151.22 | -52.09 | 0.11 | -8.33 | -26.67 | 35.14 | 22.23 | 3.29 | 23.14 | -5.93 | -19.65 | 28.57 | 185.71 | -69.23 | 57.14 | -57.14 | 700.0 | 49.13 | 2.78 | 23.23 |
| 22Q1 (10) | 0.03 | -75.0 | -88.89 | 12.63 | -37.01 | -55.36 | -1.69 | -120.58 | -108.63 | 3.25 | -67.66 | -84.55 | 3.25 | -67.66 | -84.55 | 0.47 | -72.19 | -88.94 | 0.41 | -69.85 | -87.72 | 0.12 | -7.69 | -25.0 | 28.75 | -11.84 | -27.4 | 24.60 | -11.38 | -6.85 | -33.33 | -137.5 | -135.0 | 133.33 | 500.0 | 2700.0 | 47.80 | 13.97 | 28.56 |
| 21Q4 (9) | 0.12 | -40.0 | -36.84 | 20.05 | -23.39 | -16.32 | 8.21 | -44.38 | -42.75 | 10.05 | -40.11 | -33.36 | 10.05 | -40.11 | -33.36 | 1.69 | -44.04 | -46.52 | 1.36 | -43.33 | -45.38 | 0.13 | -7.14 | -18.75 | 32.61 | -13.04 | 2.94 | 27.76 | 1.54 | -11.59 | 88.89 | 1.59 | -4.76 | 22.22 | 77.78 | 233.33 | 41.94 | 5.48 | 18.51 |
| 21Q3 (8) | 0.20 | 11.11 | 25.0 | 26.17 | 7.43 | 32.1 | 14.76 | 11.9 | 28.8 | 16.78 | 16.2 | 38.22 | 16.78 | 16.12 | 38.22 | 3.02 | 12.27 | 8.63 | 2.40 | 11.63 | 6.67 | 0.14 | -6.67 | -22.22 | 37.50 | 10.23 | 29.44 | 27.34 | -5.07 | 2.05 | 87.50 | -5.77 | -5.21 | 12.50 | 75.0 | 62.5 | 39.76 | -0.28 | 26.34 |
| 21Q2 (7) | 0.18 | -33.33 | 28.57 | 24.36 | -13.89 | 5.36 | 13.19 | -32.64 | 3.37 | 14.44 | -31.34 | 3.59 | 14.45 | -31.29 | 3.66 | 2.69 | -36.71 | 12.55 | 2.15 | -35.63 | 10.26 | 0.15 | -6.25 | 7.14 | 34.02 | -14.09 | -11.54 | 28.80 | 9.05 | 13.56 | 92.86 | -2.5 | 2.14 | 7.14 | 50.0 | -21.43 | 39.87 | 7.24 | -1.92 |
| 21Q1 (6) | 0.27 | 42.11 | 575.0 | 28.29 | 18.07 | 118.96 | 19.58 | 36.54 | 17700.0 | 21.03 | 39.46 | 360.18 | 21.03 | 39.46 | 360.18 | 4.25 | 34.49 | 534.33 | 3.34 | 34.14 | 456.67 | 0.16 | 0.0 | 33.33 | 39.60 | 25.0 | 18.81 | 26.41 | -15.89 | -2.51 | 95.24 | 2.04 | 0 | 4.76 | -28.57 | -95.24 | 37.18 | 5.06 | -21.48 |
| 20Q4 (5) | 0.19 | 18.75 | 371.43 | 23.96 | 20.95 | 1729.01 | 14.34 | 25.13 | 238.15 | 15.08 | 24.22 | 262.85 | 15.08 | 24.22 | 262.85 | 3.16 | 13.67 | 354.84 | 2.49 | 10.67 | 364.89 | 0.16 | -11.11 | 45.45 | 31.68 | 9.35 | 26.72 | 31.40 | 17.21 | 34.48 | 93.33 | 1.11 | -6.67 | 6.67 | -13.33 | 140.0 | 35.39 | 12.46 | -28.68 |
| 20Q3 (4) | 0.16 | 14.29 | 0.0 | 19.81 | -14.32 | 0.0 | 11.46 | -10.19 | 0.0 | 12.14 | -12.91 | 0.0 | 12.14 | -12.91 | 0.0 | 2.78 | 16.32 | 0.0 | 2.25 | 15.38 | 0.0 | 0.18 | 28.57 | 0.0 | 28.97 | -24.67 | 0.0 | 26.79 | 5.64 | 0.0 | 92.31 | 1.54 | 0.0 | 7.69 | -15.38 | 0.0 | 31.47 | -22.58 | 0.0 |
| 20Q2 (3) | 0.14 | 250.0 | 0.0 | 23.12 | 78.95 | 0.0 | 12.76 | 11500.0 | 0.0 | 13.94 | 205.03 | 0.0 | 13.94 | 205.03 | 0.0 | 2.39 | 256.72 | 0.0 | 1.95 | 225.0 | 0.0 | 0.14 | 16.67 | 0.0 | 38.46 | 15.39 | 0.0 | 25.36 | -6.39 | 0.0 | 90.91 | 0 | 0.0 | 9.09 | -90.91 | 0.0 | 40.65 | -14.15 | 0.0 |
| 20Q1 (2) | 0.04 | 157.14 | 0.0 | 12.92 | 886.26 | 0.0 | 0.11 | 101.06 | 0.0 | 4.57 | 149.35 | 0.0 | 4.57 | 149.35 | 0.0 | 0.67 | 154.03 | 0.0 | 0.60 | 163.83 | 0.0 | 0.12 | 9.09 | 0.0 | 33.33 | 33.32 | 0.0 | 27.09 | 16.02 | 0.0 | 0.00 | -100.0 | 0.0 | 100.00 | 700.0 | 0.0 | 47.35 | -4.57 | 0.0 |
| 19Q4 (1) | -0.07 | 0.0 | 0.0 | 1.31 | 0.0 | 0.0 | -10.38 | 0.0 | 0.0 | -9.26 | 0.0 | 0.0 | -9.26 | 0.0 | 0.0 | -1.24 | 0.0 | 0.0 | -0.94 | 0.0 | 0.0 | 0.11 | 0.0 | 0.0 | 25.00 | 0.0 | 0.0 | 23.35 | 0.0 | 0.0 | 100.00 | 0.0 | 0.0 | -16.67 | 0.0 | 0.0 | 49.62 | 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) | 0.11 | 0 | 15.23 | 232.53 | -0.21 | 0 | 16.44 | -40.67 | 2.82 | 0 | 2.82 | 0 | 1.65 | 0 | 1.47 | 0 | 0.48 | 20.0 | 19.46 | -8.85 | 20.77 | -9.46 | -12.50 | 0 | 112.50 | 0 | 0.00 | 0 | 47.89 | -11.43 |
| 2022 (9) | -0.23 | 0 | 4.58 | -81.55 | -12.45 | 0 | 27.72 | 38.58 | -6.78 | 0 | -6.78 | 0 | -3.41 | 0 | -2.58 | 0 | 0.40 | -29.82 | 21.35 | -40.43 | 22.94 | -17.36 | 183.33 | 107.1 | -83.33 | 0 | 0.00 | 0 | 54.07 | 36.44 |
| 2021 (8) | 0.76 | 43.4 | 24.82 | 21.37 | 14.07 | 34.64 | 20.00 | -0.85 | 15.71 | 31.24 | 15.71 | 31.24 | 11.65 | 29.59 | 9.15 | 26.21 | 0.57 | -3.39 | 35.84 | 9.7 | 27.76 | -11.59 | 88.52 | 0.49 | 9.84 | -17.38 | 0.00 | 0 | 39.63 | 5.4 |
| 2020 (7) | 0.53 | 0 | 20.45 | 0 | 10.45 | 0 | 20.17 | -46.8 | 11.97 | 0 | 11.97 | 0 | 8.99 | 0 | 7.25 | 0 | 0.59 | 51.28 | 32.67 | 56.69 | 31.40 | 34.48 | 88.10 | -22.15 | 11.90 | 0 | 0.00 | 0 | 37.60 | -31.39 |
| 2019 (6) | -0.48 | 0 | -5.74 | 0 | -20.52 | 0 | 37.91 | 19.96 | -18.02 | 0 | -18.00 | 0 | -8.16 | 0 | -6.75 | 0 | 0.39 | 14.71 | 20.85 | 402.41 | 23.35 | 175.68 | 113.16 | 11.14 | -13.16 | 0 | 0.00 | 0 | 54.80 | -3.01 |
| 2018 (5) | -0.69 | 0 | -11.00 | 0 | -29.01 | 0 | 31.61 | 6.03 | -28.37 | 0 | -28.33 | 0 | -10.59 | 0 | -9.52 | 0 | 0.34 | 3.03 | 4.15 | -62.48 | 8.47 | -8.33 | 101.82 | -5.45 | -1.82 | 0 | 0.00 | 0 | 56.50 | -7.12 |
| 2017 (4) | -0.49 | 0 | -2.61 | 0 | -20.38 | 0 | 29.81 | -24.77 | -18.94 | 0 | -18.81 | 0 | -6.95 | 0 | -6.30 | 0 | 0.33 | 43.48 | 11.06 | 338.89 | 9.24 | -19.23 | 107.69 | -12.96 | -7.69 | 0 | 0.00 | 0 | 60.83 | -10.52 |
| 2016 (3) | -0.74 | 0 | -25.36 | 0 | -46.01 | 0 | 39.62 | -18.28 | -37.02 | 0 | -36.84 | 0 | -9.46 | 0 | -8.65 | 0 | 0.23 | 27.78 | 2.52 | 0 | 11.44 | 48.38 | 123.73 | 13.54 | -23.73 | 0 | 0.00 | 0 | 67.98 | 5.74 |
| 2015 (2) | -0.98 | 0 | -40.14 | 0 | -64.36 | 0 | 48.48 | 9.28 | -58.97 | 0 | -58.97 | 0 | -11.36 | 0 | -10.58 | 0 | 0.18 | 0.0 | -10.61 | 0 | 7.71 | 7.83 | 108.97 | 6.7 | -8.97 | 0 | 0.00 | 0 | 64.29 | -6.31 |
| 2014 (1) | -1.18 | 0 | -35.52 | 0 | -67.73 | 0 | 44.37 | 17.8 | -65.99 | 0 | -65.99 | 0 | -12.18 | 0 | -11.62 | 0 | 0.18 | 5.88 | -21.13 | 0 | 7.15 | 150.88 | 102.13 | -33.22 | -2.13 | 0 | 0.00 | 0 | 68.62 | 41.75 |
