- 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) | 0.65 | -37.5 | -37.5 | 28.91 | -8.63 | -8.43 | 10.19 | -34.05 | -30.82 | 11.47 | -33.43 | -31.81 | 9.20 | -24.15 | -33.28 | 2.93 | -40.08 | -45.23 | 1.44 | -36.0 | -48.2 | 0.14 | -17.65 | -26.32 | 22.22 | -13.27 | -8.48 | 121.40 | -7.34 | 18.34 | 88.54 | -1.47 | 0.95 | 11.46 | 13.07 | -6.75 | 0.00 | -100.0 | -100.0 |
| 24Q2 (19) | 1.04 | -0.95 | -11.11 | 31.64 | 20.35 | -2.83 | 15.45 | 15.04 | -6.65 | 17.23 | 0.64 | -9.98 | 12.13 | -6.84 | -22.39 | 4.89 | -3.93 | -24.3 | 2.25 | -5.86 | -35.16 | 0.17 | -5.56 | -19.05 | 25.62 | 5.17 | -2.73 | 131.01 | 1.03 | 37.18 | 89.86 | 14.37 | 4.27 | 10.14 | -52.68 | -24.64 | 25.47 | 16.09 | 9.64 |
| 24Q1 (18) | 1.05 | 14.13 | 0.96 | 26.29 | -13.0 | -12.92 | 13.43 | -16.48 | -14.02 | 17.12 | 0.71 | -1.27 | 13.02 | 13.32 | -12.97 | 5.09 | 12.61 | -14.88 | 2.39 | 4.37 | -28.01 | 0.18 | -5.26 | -14.29 | 24.36 | -1.34 | -1.81 | 129.67 | 18.78 | 45.45 | 78.57 | -16.7 | -12.78 | 21.43 | 304.08 | 116.15 | 21.94 | 3.2 | 16.33 |
| 23Q4 (17) | 0.92 | -11.54 | 24.32 | 30.22 | -4.28 | -5.59 | 16.08 | 9.16 | 30.94 | 17.00 | 1.07 | 37.65 | 11.49 | -16.68 | 7.99 | 4.52 | -15.51 | 5.85 | 2.29 | -17.63 | -4.18 | 0.19 | 0.0 | -9.52 | 24.69 | 1.69 | 22.96 | 109.17 | 6.41 | 30.2 | 94.32 | 7.54 | -5.05 | 5.30 | -56.87 | 700.76 | 21.26 | -14.58 | -9.11 |
| 23Q3 (16) | 1.04 | -11.11 | 108.0 | 31.57 | -3.04 | 14.72 | 14.73 | -11.0 | 50.0 | 16.82 | -12.12 | 96.5 | 13.79 | -11.77 | 71.52 | 5.35 | -17.18 | 63.61 | 2.78 | -19.88 | 57.06 | 0.19 | -9.52 | -9.52 | 24.28 | -7.82 | 45.3 | 102.59 | 7.42 | 5.53 | 87.70 | 1.77 | -23.77 | 12.30 | -8.62 | 181.67 | 24.89 | 7.15 | 25.9 |
| 23Q2 (15) | 1.17 | 12.5 | 1200.0 | 32.56 | 7.85 | 30.14 | 16.55 | 5.95 | 157.39 | 19.14 | 10.38 | 1150.98 | 15.63 | 4.48 | 835.93 | 6.46 | 8.03 | 976.67 | 3.47 | 4.52 | 837.84 | 0.21 | 0.0 | 16.67 | 26.34 | 6.17 | 147.56 | 95.50 | 7.12 | -3.69 | 86.18 | -4.33 | -79.55 | 13.45 | 35.72 | 104.19 | 23.23 | 23.17 | 17.68 |
| 23Q1 (14) | 1.04 | 40.54 | 100.0 | 30.19 | -5.69 | 30.52 | 15.62 | 27.2 | 170.71 | 17.34 | 40.4 | 68.68 | 14.96 | 40.6 | 53.59 | 5.98 | 40.05 | 66.57 | 3.32 | 38.91 | 82.42 | 0.21 | 0.0 | 16.67 | 24.81 | 23.56 | 30.65 | 89.15 | 6.32 | -11.27 | 90.09 | -9.31 | 61.48 | 9.91 | 1396.98 | -77.58 | 18.86 | -19.37 | 11.93 |
| 22Q4 (13) | 0.74 | 48.0 | 42.31 | 32.01 | 16.32 | 10.46 | 12.28 | 25.05 | 105.01 | 12.35 | 44.28 | 16.51 | 10.64 | 32.34 | 3.0 | 4.27 | 30.58 | 15.09 | 2.39 | 35.03 | 27.81 | 0.21 | 0.0 | 23.53 | 20.08 | 20.17 | 5.91 | 83.85 | -13.74 | -22.02 | 99.34 | -13.66 | 75.75 | 0.66 | 104.4 | -98.48 | 23.39 | 18.31 | 12.83 |
| 22Q3 (12) | 0.50 | 455.56 | 400.0 | 27.52 | 9.99 | 8.77 | 9.82 | 52.72 | 297.57 | 8.56 | 459.48 | 57.35 | 8.04 | 381.44 | 203.4 | 3.27 | 445.0 | 341.89 | 1.77 | 378.38 | 311.63 | 0.21 | 16.67 | 50.0 | 16.71 | 57.05 | 2.89 | 97.21 | -1.97 | -8.25 | 115.05 | -72.7 | 158.87 | -15.05 | 95.32 | -127.1 | 19.77 | 0.15 | -14.71 |
| 22Q2 (11) | 0.09 | -82.69 | -50.0 | 25.02 | 8.17 | -0.99 | 6.43 | 11.44 | 54.94 | 1.53 | -85.12 | -74.96 | 1.67 | -82.85 | -64.09 | 0.60 | -83.29 | -54.89 | 0.37 | -79.67 | -47.89 | 0.18 | 0.0 | 28.57 | 10.64 | -43.97 | -33.46 | 99.16 | -1.3 | -2.09 | 421.43 | 655.39 | 502.04 | -321.43 | -827.04 | -1089.01 | 19.74 | 17.15 | -12.42 |
| 22Q1 (10) | 0.52 | 0.0 | 225.0 | 23.13 | -20.19 | -0.94 | 5.77 | -3.67 | 42.82 | 10.28 | -3.02 | 89.32 | 9.74 | -5.71 | 129.18 | 3.59 | -3.23 | 209.48 | 1.82 | -2.67 | 184.38 | 0.18 | 5.88 | 28.57 | 18.99 | 0.16 | 24.93 | 100.47 | -6.57 | -4.37 | 55.79 | -1.3 | -24.9 | 44.21 | 1.68 | 71.93 | 16.85 | -18.72 | -31.06 |
| 21Q4 (9) | 0.52 | 420.0 | 18.18 | 28.98 | 14.55 | -0.03 | 5.99 | 142.51 | -5.67 | 10.60 | 94.85 | -20.54 | 10.33 | 289.81 | -6.35 | 3.71 | 401.35 | 17.78 | 1.87 | 334.88 | 2.75 | 0.17 | 21.43 | 6.25 | 18.96 | 16.75 | -15.02 | 107.53 | 1.49 | 22.78 | 56.52 | 27.17 | 19.77 | 43.48 | -21.74 | -17.67 | 20.73 | -10.57 | 0.0 |
| 21Q3 (8) | 0.10 | -44.44 | 66.67 | 25.30 | 0.12 | -1.56 | 2.47 | -40.48 | 8.33 | 5.44 | -10.97 | 155.4 | 2.65 | -43.01 | 24.41 | 0.74 | -44.36 | 57.45 | 0.43 | -39.44 | 30.3 | 0.14 | 0.0 | 7.69 | 16.24 | 1.56 | 23.03 | 105.95 | 4.61 | 52.1 | 44.44 | -36.51 | -55.56 | 55.56 | 70.94 | 711.11 | 23.18 | 2.84 | -11.12 |
| 21Q2 (7) | 0.18 | 12.5 | -94.84 | 25.27 | 8.22 | 41.33 | 4.15 | 2.72 | 123.82 | 6.11 | 12.52 | -96.32 | 4.65 | 9.41 | -97.0 | 1.33 | 14.66 | -95.5 | 0.71 | 10.94 | -95.36 | 0.14 | 0.0 | 40.0 | 15.99 | 5.2 | -91.14 | 101.28 | -3.6 | 45.92 | 70.00 | -5.77 | 768.18 | 32.50 | 26.39 | -70.58 | 22.54 | -7.77 | 0 |
| 21Q1 (6) | 0.16 | -63.64 | 214.29 | 23.35 | -19.45 | 18.41 | 4.04 | -36.38 | 207.73 | 5.43 | -59.3 | 204.02 | 4.25 | -61.47 | 181.42 | 1.16 | -63.17 | 184.67 | 0.64 | -64.84 | 239.13 | 0.14 | -12.5 | 16.67 | 15.20 | -31.87 | 120.29 | 105.06 | 19.96 | -17.93 | 74.29 | 57.41 | 0.5 | 25.71 | -51.31 | -15.51 | 24.44 | 17.9 | -0.73 |
| 20Q4 (5) | 0.44 | 633.33 | 4500.0 | 28.99 | 12.8 | 66.71 | 6.35 | 178.51 | -36.88 | 13.34 | 526.29 | 1565.93 | 11.03 | 417.84 | 4342.31 | 3.15 | 570.21 | 4037.5 | 1.82 | 451.52 | 1200.0 | 0.16 | 23.08 | 23.08 | 22.31 | 69.02 | 61.32 | 87.58 | 25.72 | -29.43 | 47.19 | -52.81 | 104.37 | 52.81 | 680.9 | -95.52 | 20.73 | -20.51 | 54.7 |
| 20Q3 (4) | 0.06 | -98.28 | 0.0 | 25.70 | 43.74 | 0.0 | 2.28 | 113.09 | 0.0 | 2.13 | -98.72 | 0.0 | 2.13 | -98.63 | 0.0 | 0.47 | -98.41 | 0.0 | 0.33 | -97.84 | 0.0 | 0.13 | 30.0 | 0.0 | 13.20 | -92.69 | 0.0 | 69.66 | 0.36 | 0.0 | 100.00 | 1054.55 | 0.0 | -9.09 | -108.23 | 0.0 | 26.08 | 0 | 0.0 |
| 20Q2 (3) | 3.49 | 2592.86 | 0.0 | 17.88 | -9.33 | 0.0 | -17.42 | -364.53 | 0.0 | 166.07 | 3281.42 | 0.0 | 155.18 | 3072.8 | 0.0 | 29.58 | 2259.12 | 0.0 | 15.31 | 3428.26 | 0.0 | 0.10 | -16.67 | 0.0 | 180.53 | 2516.38 | 0.0 | 69.41 | -45.78 | 0.0 | -10.48 | -114.17 | 0.0 | 110.48 | 262.99 | 0.0 | 0.00 | -100.0 | 0.0 |
| 20Q1 (2) | -0.14 | -1300.0 | 0.0 | 19.72 | 13.4 | 0.0 | -3.75 | -137.28 | 0.0 | -5.22 | -473.63 | 0.0 | -5.22 | -1907.69 | 0.0 | -1.37 | -1612.5 | 0.0 | -0.46 | -428.57 | 0.0 | 0.12 | -7.69 | 0.0 | 6.90 | -50.11 | 0.0 | 128.02 | 3.15 | 0.0 | 73.91 | 106.84 | 0.0 | 30.43 | -97.42 | 0.0 | 24.62 | 83.73 | 0.0 |
| 19Q4 (1) | -0.01 | 0.0 | 0.0 | 17.39 | 0.0 | 0.0 | 10.06 | 0.0 | 0.0 | -0.91 | 0.0 | 0.0 | -0.26 | 0.0 | 0.0 | -0.08 | 0.0 | 0.0 | 0.14 | 0.0 | 0.0 | 0.13 | 0.0 | 0.0 | 13.83 | 0.0 | 0.0 | 124.11 | 0.0 | 0.0 | -1080.00 | 0.0 | 0.0 | 1180.00 | 0.0 | 0.0 | 13.40 | 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) | 4.17 | 127.87 | 31.13 | 13.99 | 15.75 | 77.17 | 6.63 | -12.18 | 17.57 | 106.71 | 13.90 | 78.89 | 22.08 | 97.5 | 11.59 | 88.76 | 0.80 | 8.11 | 25.04 | 48.52 | 109.17 | 30.2 | 89.64 | -14.24 | 10.36 | 0 | 0.06 | 0 | 22.10 | 9.51 |
| 2022 (9) | 1.83 | 90.63 | 27.31 | 5.12 | 8.89 | 106.74 | 7.55 | -15.02 | 8.50 | 18.55 | 7.77 | 33.28 | 11.18 | 64.41 | 6.14 | 66.4 | 0.74 | 25.42 | 16.86 | 0.66 | 83.85 | -22.02 | 104.53 | 75.37 | -4.53 | 0 | 0.00 | 0 | 20.18 | -10.55 |
| 2021 (8) | 0.96 | -75.06 | 25.98 | 8.39 | 4.30 | 0 | 8.89 | -4.57 | 7.17 | -79.73 | 5.83 | -82.08 | 6.80 | -78.52 | 3.69 | -76.85 | 0.59 | 22.92 | 16.75 | -64.11 | 107.53 | 22.78 | 59.61 | 0 | 39.90 | -61.67 | 0.00 | 0 | 22.56 | -12.22 |
| 2020 (7) | 3.85 | 0 | 23.97 | 236.19 | -1.46 | 0 | 9.31 | -1.55 | 35.37 | 0 | 32.53 | 0 | 31.66 | 0 | 15.94 | 0 | 0.48 | -5.88 | 46.67 | 0 | 87.58 | -29.43 | -4.10 | 0 | 104.10 | 666.43 | 0.00 | 0 | 25.70 | -31.14 |
| 2019 (6) | -3.00 | 0 | 7.13 | -64.72 | -20.05 | 0 | 9.46 | 200.93 | -23.21 | 0 | -23.04 | 0 | -24.86 | 0 | -11.10 | 0 | 0.51 | -42.05 | -10.28 | 0 | 124.11 | 23.52 | 86.42 | 2.04 | 13.58 | -11.29 | 0.00 | 0 | 37.32 | 42.99 |
| 2018 (5) | 1.01 | 102.0 | 20.21 | 1.1 | 4.65 | -35.33 | 3.14 | -3.26 | 5.48 | 7.03 | 4.41 | 65.79 | 7.46 | 110.14 | 4.06 | 75.76 | 0.88 | 6.02 | 9.30 | 4.73 | 100.48 | 22.33 | 84.69 | -39.89 | 15.31 | 0 | 0.00 | 0 | 26.10 | 5.07 |
| 2017 (4) | 0.50 | -93.89 | 19.99 | 12.62 | 7.19 | 536.28 | 3.25 | -44.85 | 5.12 | 129.6 | 2.66 | -95.45 | 3.55 | 810.26 | 2.31 | 507.89 | 0.83 | 9.21 | 8.88 | 1.49 | 82.14 | 88.91 | 140.88 | 176.34 | -40.25 | 0 | 0.00 | 0 | 24.84 | -15.77 |
| 2016 (3) | 8.19 | 2724.14 | 17.75 | 7.12 | 1.13 | 61.43 | 5.89 | -39.63 | 2.23 | -0.45 | 58.51 | 2059.04 | 0.39 | -86.6 | 0.38 | -78.53 | 0.76 | 4.11 | 8.75 | -32.74 | 43.48 | -49.82 | 50.98 | 65.69 | 49.02 | -29.19 | 0.00 | 0 | 29.49 | -0.14 |
| 2015 (2) | 0.29 | 0 | 16.57 | 164.27 | 0.70 | 0 | 9.76 | -43.38 | 2.24 | 0 | 2.71 | 0 | 2.91 | 0 | 1.77 | 0 | 0.73 | 35.19 | 13.01 | 208.29 | 86.65 | -1.92 | 30.77 | -71.11 | 69.23 | 0 | 0.00 | 0 | 29.53 | -10.08 |
| 2014 (1) | -1.24 | 0 | 6.27 | 0 | -15.24 | 0 | 17.24 | 47.37 | -14.33 | 0 | -14.38 | 0 | -15.13 | 0 | -7.42 | 0 | 0.54 | -30.77 | 4.22 | -50.41 | 88.35 | -14.68 | 106.50 | -18.95 | -6.50 | 0 | 0.00 | 0 | 32.84 | 15.72 |
