- 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) | 0.62 | 287.5 | 1140.0 | 75.06 | -5.95 | -6.44 | 10.67 | -41.6 | -10.41 | 167.13 | 316.58 | 1248.91 | 160.19 | 377.18 | 1675.94 | 4.69 | 311.4 | 1575.0 | 4.01 | 309.18 | 1570.83 | 0.03 | 0.0 | 0.0 | 182.61 | 265.22 | 599.92 | 17.92 | 9.94 | 13.56 | 5.13 | -89.74 | -94.87 | 92.31 | 53.85 | 0 | 32.28 | 8.54 | 24.39 |
| 24Q2 (19) | 0.16 | 277.78 | 1500.0 | 79.81 | 2.33 | -61.34 | 18.27 | 631.1 | -72.72 | 40.12 | 243.54 | 222.25 | 33.57 | 188.69 | 370.94 | 1.14 | 218.75 | 0 | 0.98 | 219.51 | 0 | 0.03 | 50.0 | 200.0 | 50.00 | 574.83 | 0.0 | 16.30 | 0.18 | -31.8 | 50.00 | 150.0 | -92.86 | 60.00 | -40.0 | 112.0 | 29.74 | -28.72 | -28.29 |
| 24Q1 (18) | -0.09 | -125.71 | -280.0 | 77.99 | -2.68 | 56.92 | -3.44 | -121.81 | -163.7 | -27.95 | -136.68 | -610.97 | -37.85 | -151.41 | -1461.51 | -0.96 | -135.69 | -740.0 | -0.82 | -135.65 | -685.71 | 0.02 | -33.33 | -50.0 | -10.53 | -112.29 | -170.2 | 16.27 | -4.18 | -19.57 | 20.00 | 5.0 | -80.0 | 100.00 | 23.53 | 0 | 41.72 | -13.57 | 101.74 |
| 23Q4 (17) | 0.35 | 600.0 | -14.63 | 80.14 | -0.11 | 79.44 | 15.77 | 32.41 | 261.7 | 76.19 | 514.93 | 38.25 | 73.62 | 716.19 | 43.23 | 2.69 | 860.71 | -7.88 | 2.30 | 858.33 | -6.88 | 0.03 | 0.0 | -40.0 | 85.71 | 228.52 | 36.5 | 16.98 | 7.6 | -14.5 | 19.05 | -80.95 | 128.57 | 80.95 | 0 | -11.69 | 48.27 | 86.01 | 122.24 |
| 23Q3 (16) | 0.05 | 400.0 | 116.13 | 80.23 | -61.14 | 97.22 | 11.91 | -82.22 | 483.82 | 12.39 | -0.48 | 123.3 | 9.02 | 172.8 | 116.33 | 0.28 | 0 | 110.04 | 0.24 | 0 | 110.26 | 0.03 | 200.0 | -25.0 | 26.09 | -47.82 | 159.85 | 15.78 | -33.97 | -15.71 | 100.00 | -85.71 | 2200.0 | 0.00 | 100.0 | -100.0 | 25.95 | -37.42 | 23.69 |
| 23Q2 (15) | 0.01 | -80.0 | 101.49 | 206.45 | 315.39 | 176.34 | 66.98 | 1140.37 | 385.36 | 12.45 | 127.61 | 107.52 | -12.39 | -545.68 | 92.72 | 0.00 | -100.0 | 100.0 | 0.00 | -100.0 | 100.0 | 0.01 | -75.0 | -66.67 | 50.00 | 233.33 | 131.25 | 23.90 | 18.14 | 27.26 | 700.00 | 600.0 | 7450.0 | -500.00 | 0 | -556.52 | 41.47 | 100.53 | 35.92 |
| 23Q1 (14) | 0.05 | -87.8 | -90.74 | 49.70 | 11.29 | -38.0 | 5.40 | 23.85 | -62.73 | 5.47 | -90.07 | -96.21 | 2.78 | -94.59 | -97.95 | 0.15 | -94.86 | -96.16 | 0.14 | -94.33 | -95.97 | 0.04 | -20.0 | 33.33 | 15.00 | -76.11 | -90.68 | 20.23 | 1.86 | 59.92 | 100.00 | 1100.0 | 1033.33 | 0.00 | -100.0 | -100.0 | 20.68 | -4.79 | -39.64 |
| 22Q4 (13) | 0.41 | 232.26 | 0 | 44.66 | 9.78 | -44.67 | 4.36 | 113.73 | 340.4 | 55.11 | 203.63 | 569.02 | 51.40 | 193.07 | 515.19 | 2.92 | 204.66 | 1012.5 | 2.47 | 205.56 | 1014.81 | 0.05 | 25.0 | 150.0 | 62.79 | 244.05 | 0 | 19.86 | 6.09 | 57.12 | 8.33 | 275.0 | 0 | 91.67 | -8.33 | -38.89 | 21.72 | 3.53 | -47.33 |
| 22Q3 (12) | -0.31 | 53.73 | 55.71 | 40.68 | -45.55 | -49.67 | 2.04 | -85.22 | -76.44 | -53.18 | 67.88 | 73.39 | -55.23 | 67.57 | 73.15 | -2.79 | 48.43 | 52.47 | -2.34 | 49.89 | 53.01 | 0.04 | 33.33 | 100.0 | -43.59 | 72.76 | 76.13 | 18.72 | -0.32 | 48.1 | -4.76 | 50.0 | -9.52 | 100.00 | -8.7 | -4.17 | 20.98 | -31.24 | -49.13 |
| 22Q2 (11) | -0.67 | -224.07 | -147.18 | 74.71 | -6.8 | -9.48 | 13.80 | -4.76 | 1715.79 | -165.58 | -214.8 | -131.75 | -170.28 | -225.41 | -132.81 | -5.41 | -238.36 | -148.09 | -4.67 | -234.58 | -148.75 | 0.03 | 0.0 | 50.0 | -160.00 | -199.46 | -130.22 | 18.78 | 48.46 | -19.23 | -9.52 | -207.94 | 0 | 109.52 | 24.13 | 9.52 | 30.51 | -10.95 | -18.16 |
| 22Q1 (10) | 0.54 | 0 | 1450.0 | 80.16 | -0.69 | 3.33 | 14.49 | 1363.64 | 4240.0 | 144.23 | 1327.49 | 1817.02 | 135.78 | 1196.77 | 903.43 | 3.91 | 1321.88 | 1217.14 | 3.47 | 1385.19 | 1219.35 | 0.03 | 50.0 | 50.0 | 160.87 | 0 | 2311.84 | 12.65 | 0.08 | 12.34 | 8.82 | 0 | 0 | 88.24 | -41.18 | -11.76 | 34.26 | -16.93 | -18.47 |
| 21Q4 (9) | 0.00 | 100.0 | -100.0 | 80.72 | -0.14 | 12.13 | 0.99 | -88.57 | 121.48 | -11.75 | 94.12 | -106.89 | -12.38 | 93.98 | -107.27 | -0.32 | 94.55 | -109.12 | -0.27 | 94.58 | -108.52 | 0.02 | 0.0 | 0.0 | 0.00 | 100.0 | -100.0 | 12.64 | 0.0 | 16.28 | -0.00 | 100.0 | 100.0 | 150.00 | 43.75 | 44.23 | 41.24 | 0.0 | 30.55 |
| 21Q3 (8) | -0.70 | -149.3 | -975.0 | 80.83 | -2.06 | 5.41 | 8.66 | 1039.47 | 111.16 | -199.83 | -138.32 | -425.67 | -205.67 | -139.63 | -434.97 | -5.87 | -152.18 | -938.57 | -4.98 | -151.98 | -890.48 | 0.02 | 0.0 | 100.0 | -182.61 | -134.49 | -308.7 | 12.64 | -45.63 | 13.87 | -4.35 | 0 | 96.38 | 104.35 | 4.35 | -52.57 | 41.24 | 10.62 | -31.88 |
| 21Q2 (7) | 1.42 | 3650.0 | 4633.33 | 82.53 | 6.38 | 8.81 | 0.76 | 317.14 | 101.72 | 521.47 | 6307.98 | 2181.15 | 518.97 | 3170.83 | 2249.34 | 11.25 | 3314.29 | 4587.5 | 9.58 | 3190.32 | 4254.55 | 0.02 | 0.0 | 100.0 | 529.41 | 7837.18 | 958.82 | 23.25 | 106.48 | 96.53 | 0.00 | 0 | 100.0 | 100.00 | 0.0 | -60.0 | 37.28 | -11.28 | 0 |
| 21Q1 (6) | -0.04 | -109.76 | 33.33 | 77.58 | 7.76 | -3.76 | -0.35 | 92.41 | 94.75 | -8.40 | -104.92 | 69.71 | -16.90 | -109.93 | 39.14 | -0.35 | -109.97 | 25.53 | -0.31 | -109.78 | 27.91 | 0.02 | 0.0 | 0.0 | 6.67 | -96.43 | 180.07 | 11.26 | 3.59 | 16.93 | -0.00 | 100.0 | -100.0 | 100.00 | -3.85 | 0.0 | 42.02 | 33.02 | 0 |
| 20Q4 (5) | 0.41 | 412.5 | 51.85 | 71.99 | -6.12 | -17.63 | -4.61 | 94.06 | -108.84 | 170.56 | 177.97 | 215.79 | 170.26 | 177.3 | 233.39 | 3.51 | 401.43 | 49.36 | 3.17 | 403.17 | 48.13 | 0.02 | 100.0 | -50.0 | 186.67 | 113.34 | 207.99 | 10.87 | -2.07 | 11.03 | -4.00 | 96.67 | -104.24 | 104.00 | -52.73 | 1772.0 | 31.59 | -47.82 | 112.87 |
| 20Q3 (4) | 0.08 | 166.67 | 0.0 | 76.68 | 1.09 | 0.0 | -77.59 | -75.58 | 0.0 | 61.36 | 168.42 | 0.0 | 61.40 | 177.95 | 0.0 | 0.70 | 191.67 | 0.0 | 0.63 | 186.36 | 0.0 | 0.01 | 0.0 | 0.0 | 87.50 | 75.0 | 0.0 | 11.10 | -6.17 | 0.0 | -120.00 | 20.0 | 0.0 | 220.00 | -12.0 | 0.0 | 60.54 | 0 | 0.0 |
| 20Q2 (3) | 0.03 | 150.0 | 0.0 | 75.85 | -5.9 | 0.0 | -44.19 | -562.52 | 0.0 | 22.86 | 182.44 | 0.0 | 22.09 | 179.55 | 0.0 | 0.24 | 151.06 | 0.0 | 0.22 | 151.16 | 0.0 | 0.01 | -50.0 | 0.0 | 50.00 | 700.24 | 0.0 | 11.83 | 22.85 | 0.0 | -150.00 | -550.0 | 0.0 | 250.00 | 150.0 | 0.0 | 0.00 | 0 | 0.0 |
| 20Q1 (2) | -0.06 | -122.22 | 0.0 | 80.61 | -7.77 | 0.0 | -6.67 | -112.79 | 0.0 | -27.73 | -151.34 | 0.0 | -27.77 | -154.38 | 0.0 | -0.47 | -120.0 | 0.0 | -0.43 | -120.09 | 0.0 | 0.02 | -50.0 | 0.0 | -8.33 | -113.74 | 0.0 | 9.63 | -1.63 | 0.0 | 33.33 | -64.71 | 0.0 | 100.00 | 1700.0 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q4 (1) | 0.27 | 0.0 | 0.0 | 87.40 | 0.0 | 0.0 | 52.16 | 0.0 | 0.0 | 54.01 | 0.0 | 0.0 | 51.07 | 0.0 | 0.0 | 2.35 | 0.0 | 0.0 | 2.14 | 0.0 | 0.0 | 0.04 | 0.0 | 0.0 | 60.61 | 0.0 | 0.0 | 9.79 | 0.0 | 0.0 | 94.44 | 0.0 | 0.0 | 5.56 | 0.0 | 0.0 | 14.84 | 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) | 0.46 | 0 | 81.22 | 45.84 | 15.59 | 112.69 | 11.65 | 27.18 | 26.67 | 0 | 21.75 | 0 | 3.09 | 0 | 2.63 | 0 | 0.11 | -21.43 | 39.81 | 551.55 | 16.98 | -14.5 | 59.26 | 0 | 40.74 | -83.7 | 0.22 | 102.45 | 30.91 | 21.41 |
| 2022 (9) | -0.03 | 0 | 55.69 | -30.84 | 7.33 | 144.33 | 9.16 | -31.3 | -4.22 | 0 | -8.48 | 0 | -1.42 | 0 | -1.18 | 0 | 0.14 | 55.56 | 6.11 | -90.84 | 19.86 | 57.12 | -166.67 | 0 | 250.00 | 163.89 | 0.11 | -0.88 | 25.46 | -35.56 |
| 2021 (8) | 0.68 | 47.83 | 80.52 | 5.91 | 3.00 | 0 | 13.33 | -28.33 | 51.02 | -23.7 | 46.79 | -29.78 | 4.60 | 17.05 | 4.13 | 15.69 | 0.09 | 80.0 | 66.67 | -24.56 | 12.64 | 16.28 | 5.26 | 0 | 94.74 | -31.32 | 0.11 | -9.65 | 39.51 | -9.61 |
| 2020 (7) | 0.46 | 475.0 | 76.03 | -8.01 | -26.04 | 0 | 18.60 | 32.56 | 66.87 | 572.06 | 66.63 | 685.73 | 3.93 | 495.45 | 3.57 | 475.81 | 0.05 | -28.57 | 88.37 | 259.81 | 10.87 | 11.03 | -37.93 | 0 | 137.93 | 0 | 0.12 | -2.82 | 43.71 | 30.79 |
| 2019 (6) | 0.08 | -61.9 | 82.65 | 30.47 | 10.08 | -13.77 | 14.04 | 76.44 | 9.95 | -46.01 | 8.48 | -42.47 | 0.66 | -62.71 | 0.62 | -62.2 | 0.07 | -36.36 | 24.56 | -9.94 | 9.79 | 18.52 | 100.00 | 60.0 | 0.00 | 0 | 0.13 | -49.75 | 33.42 | 34.27 |
| 2018 (5) | 0.21 | -63.16 | 63.35 | -6.02 | 11.69 | -62.12 | 7.95 | 27.27 | 18.43 | -45.12 | 14.74 | -53.22 | 1.77 | -63.73 | 1.64 | -63.96 | 0.11 | -21.43 | 27.27 | -32.13 | 8.26 | 8.26 | 62.50 | -32.14 | 37.50 | 375.0 | 0.25 | 0 | 24.89 | 38.51 |
| 2017 (4) | 0.57 | 280.0 | 67.41 | -19.91 | 30.86 | 30.16 | 6.25 | -49.22 | 33.58 | 78.71 | 31.51 | 119.74 | 4.88 | 266.92 | 4.55 | 264.0 | 0.14 | 55.56 | 40.18 | 30.58 | 7.63 | 7.31 | 92.11 | -26.32 | 7.89 | 0 | 0.00 | 0 | 17.97 | -40.28 |
| 2016 (3) | 0.15 | -66.67 | 84.17 | 1.73 | 23.71 | -29.31 | 12.31 | -16.08 | 18.79 | -49.62 | 14.34 | -57.27 | 1.33 | -63.16 | 1.25 | -63.24 | 0.09 | -10.0 | 30.77 | -40.83 | 7.11 | 3.8 | 125.00 | 40.0 | -25.00 | 0 | 0.00 | 0 | 30.09 | 38.15 |
| 2015 (2) | 0.45 | -21.05 | 82.74 | -1.3 | 33.54 | -13.58 | 14.67 | 10.0 | 37.30 | -10.62 | 33.56 | -19.58 | 3.61 | -14.05 | 3.40 | -16.05 | 0.10 | 0.0 | 52.00 | -4.88 | 6.85 | 12.66 | 89.29 | -4.56 | 10.71 | 66.07 | 0.00 | 0 | 21.78 | 11.64 |
| 2014 (1) | 0.57 | 0 | 83.83 | 0 | 38.81 | 0 | 13.33 | -88.0 | 41.73 | 0 | 41.73 | 0 | 4.20 | 0 | 4.05 | 0 | 0.10 | 900.0 | 54.67 | 0 | 6.08 | 204.0 | 93.55 | 23.31 | 6.45 | -73.27 | 0.00 | 0 | 19.51 | -83.8 |
