- 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) | -0.09 | -12.5 | 60.87 | 74.96 | -6.31 | 28.84 | -42.58 | 25.96 | 74.34 | -40.73 | -79.19 | 69.65 | -40.73 | -79.19 | 69.65 | -2.55 | -20.28 | 49.9 | -2.38 | -22.68 | 48.15 | 0.06 | -33.33 | 100.0 | -30.00 | -125.06 | 73.75 | 4.88 | -44.16 | -47.3 | 100.00 | -66.67 | -16.67 | -0.00 | 100.0 | 100.0 | 88.55 | 6.51 | -48.96 |
| 24Q2 (19) | -0.08 | 70.37 | 42.86 | 80.01 | 66.58 | 37.9 | -57.51 | 58.62 | -10.94 | -22.73 | 80.92 | 38.13 | -22.73 | 80.92 | 38.13 | -2.12 | 67.83 | 30.94 | -1.94 | 67.72 | 28.41 | 0.09 | 80.0 | 28.57 | -13.33 | 88.0 | 46.68 | 8.74 | -3.96 | -25.81 | 300.00 | 153.85 | 125.0 | -166.67 | -816.67 | -400.0 | 83.14 | -52.37 | 2.73 |
| 24Q1 (18) | -0.27 | 3.57 | 12.9 | 48.03 | 19.84 | 221.27 | -138.99 | 27.1 | 10.89 | -119.13 | 16.91 | 21.65 | -119.13 | 16.91 | 21.65 | -6.59 | -2.33 | -1.85 | -6.01 | -2.56 | -3.62 | 0.05 | 25.0 | 25.0 | -111.11 | 11.11 | 9.09 | 9.10 | -8.82 | -28.63 | 118.18 | -13.33 | 18.18 | -18.18 | 50.0 | 0 | 174.55 | 10.0 | 15.11 |
| 23Q4 (17) | -0.28 | -21.74 | 24.32 | 40.08 | -31.11 | 1521.28 | -190.65 | -14.91 | -18.48 | -143.37 | -6.84 | 5.46 | -143.37 | -6.84 | 5.46 | -6.44 | -26.52 | 27.23 | -5.86 | -27.67 | 21.97 | 0.04 | 33.33 | -20.0 | -125.00 | -9.37 | 0.0 | 9.98 | 7.78 | 2.15 | 136.36 | 13.64 | 25.87 | -36.36 | -81.82 | -336.36 | 158.68 | -8.54 | -8.19 |
| 23Q3 (16) | -0.23 | -64.29 | 46.51 | 58.18 | 0.28 | 51.63 | -165.91 | -220.04 | 14.08 | -134.19 | -265.24 | 27.26 | -134.19 | -265.24 | 26.64 | -5.09 | -65.8 | 74.47 | -4.59 | -69.37 | 71.56 | 0.03 | -57.14 | -66.67 | -114.29 | -357.16 | 33.33 | 9.26 | -21.39 | -78.96 | 120.00 | -10.0 | 20.0 | -20.00 | 40.0 | -180.0 | 173.50 | 114.38 | -11.92 |
| 23Q2 (15) | -0.14 | 54.84 | -450.0 | 58.02 | 288.09 | -5.18 | -51.84 | 66.76 | -280.9 | -36.74 | 75.84 | -385.69 | -36.74 | 75.84 | -385.69 | -3.07 | 52.55 | -291.88 | -2.71 | 53.28 | -279.47 | 0.07 | 75.0 | -41.67 | -25.00 | 79.55 | -212.51 | 11.78 | -7.61 | 83.49 | 133.33 | 33.33 | 233.33 | -33.33 | 0 | -116.67 | 80.93 | -46.63 | 74.01 |
| 23Q1 (14) | -0.31 | 16.22 | -1650.0 | 14.95 | 630.14 | -77.78 | -155.97 | 3.07 | -1174.26 | -152.04 | -0.26 | -2287.63 | -152.04 | -0.26 | -2287.63 | -6.47 | 26.89 | -962.67 | -5.80 | 22.77 | -916.9 | 0.04 | -20.0 | -60.0 | -122.22 | 2.22 | -588.88 | 12.75 | 30.5 | 105.98 | 100.00 | -7.69 | 200.0 | -0.00 | 100.0 | -100.0 | 151.64 | -12.27 | 202.25 |
| 22Q4 (13) | -0.37 | 13.95 | -1950.0 | -2.82 | -107.35 | -104.42 | -160.91 | 16.67 | -5141.37 | -151.65 | 17.79 | -2774.6 | -151.65 | 17.09 | -2774.6 | -8.85 | 55.62 | -1364.29 | -7.51 | 53.47 | -1237.88 | 0.05 | -44.44 | -54.55 | -125.00 | 27.08 | -662.56 | 9.77 | -77.8 | 37.8 | 108.33 | 8.33 | 0 | -8.33 | -16.67 | 0 | 172.84 | -12.26 | 318.2 |
| 22Q3 (12) | -0.43 | -1175.0 | -616.67 | 38.37 | -37.29 | 8.57 | -193.09 | -1318.74 | -404.94 | -184.47 | -1534.45 | -629.13 | -182.92 | -1522.4 | -623.0 | -19.94 | -1346.25 | -666.92 | -16.14 | -1168.87 | -578.15 | 0.09 | -25.0 | 0.0 | -171.43 | -871.51 | -1099.65 | 44.01 | 585.51 | 512.1 | 100.00 | 200.0 | -33.33 | -7.14 | -103.57 | 85.71 | 196.98 | 323.52 | 329.06 |
| 22Q2 (11) | 0.04 | 100.0 | 166.67 | 61.19 | -9.07 | 39.93 | -13.61 | -11.19 | 69.46 | 12.86 | 85.04 | 140.76 | 12.86 | 85.04 | 140.76 | 1.60 | 113.33 | 163.24 | 1.51 | 112.68 | 166.81 | 0.12 | 20.0 | 71.43 | 22.22 | -11.12 | 233.29 | 6.42 | 3.72 | -39.94 | -100.00 | 0.0 | -166.67 | 200.00 | 100.0 | 500.0 | 46.51 | -7.3 | -16.03 |
| 22Q1 (10) | 0.02 | 0.0 | 128.57 | 67.29 | 5.59 | 68.1 | -12.24 | -298.7 | 66.94 | 6.95 | 22.57 | 130.78 | 6.95 | 22.57 | 130.78 | 0.75 | 7.14 | 125.86 | 0.71 | 7.58 | 127.84 | 0.10 | -9.09 | -9.09 | 25.00 | 12.51 | 225.0 | 6.19 | -12.69 | -46.78 | -100.00 | 0 | -150.0 | 100.00 | 0 | 300.0 | 50.17 | 21.39 | -9.33 |
| 21Q4 (9) | 0.02 | 133.33 | 100.0 | 63.73 | 80.33 | 86.29 | -3.07 | 91.97 | 35.23 | 5.67 | 122.41 | 167.45 | 5.67 | 122.41 | 167.45 | 0.70 | 126.92 | 70.73 | 0.66 | 127.73 | 78.38 | 0.11 | 22.22 | -35.29 | 22.22 | 255.49 | 211.2 | 7.09 | -1.39 | -50.21 | 0.00 | -100.0 | 0 | 0.00 | 100.0 | 0 | 41.33 | -9.98 | 14.08 |
| 21Q3 (8) | -0.06 | 0.0 | 64.71 | 35.34 | -19.19 | 72.73 | -38.24 | 14.18 | 47.43 | -25.30 | 19.81 | 60.9 | -25.30 | 19.81 | 60.9 | -2.60 | -2.77 | 64.19 | -2.38 | -5.31 | 62.81 | 0.09 | 28.57 | -10.0 | -14.29 | 14.28 | 77.14 | 7.19 | -32.74 | -50.65 | 150.00 | 0.0 | 25.0 | -50.00 | 0.0 | -150.0 | 45.91 | -17.12 | -16.57 |
| 21Q2 (7) | -0.06 | 14.29 | 50.0 | 43.73 | 9.24 | -8.84 | -44.56 | -20.37 | -26.73 | -31.55 | -39.73 | 10.32 | -31.55 | -39.73 | 10.32 | -2.53 | 12.76 | 47.18 | -2.26 | 11.37 | 46.82 | 0.07 | -36.36 | -41.67 | -16.67 | 16.65 | 38.87 | 10.69 | -8.08 | -7.61 | 150.00 | -25.0 | 50.0 | -50.00 | 0.0 | 0 | 55.39 | 0.11 | 0 |
| 21Q1 (6) | -0.07 | -800.0 | -16.67 | 40.03 | 17.01 | -1.23 | -37.02 | -681.01 | -29.4 | -22.58 | -1165.09 | -22.72 | -22.58 | -1165.09 | -22.72 | -2.90 | -807.32 | -18.85 | -2.55 | -789.19 | -19.72 | 0.11 | -35.29 | -8.33 | -20.00 | -380.11 | -120.02 | 11.63 | -18.33 | -8.35 | 200.00 | 0 | 33.33 | -50.00 | 0 | 0.0 | 55.33 | 52.72 | 0 |
| 20Q4 (5) | 0.01 | 105.88 | -94.12 | 34.21 | 67.2 | -56.81 | -4.74 | 93.48 | 92.15 | 2.12 | 103.28 | -91.16 | 2.12 | 103.28 | -91.16 | 0.41 | 105.65 | -92.86 | 0.37 | 105.78 | -90.0 | 0.17 | 70.0 | 13.33 | 7.14 | 111.42 | -79.6 | 14.24 | -2.26 | -5.0 | 0.00 | -100.0 | 100.0 | 0.00 | 100.0 | -100.0 | 36.23 | -34.16 | -7.34 |
| 20Q3 (4) | -0.17 | -41.67 | 0.0 | 20.46 | -57.35 | 0.0 | -72.74 | -106.88 | 0.0 | -64.71 | -83.94 | 0.0 | -64.71 | -83.94 | 0.0 | -7.26 | -51.57 | 0.0 | -6.40 | -50.59 | 0.0 | 0.10 | -16.67 | 0.0 | -62.50 | -129.19 | 0.0 | 14.57 | 25.93 | 0.0 | 120.00 | 20.0 | 0.0 | -20.00 | 0 | 0.0 | 55.03 | 0 | 0.0 |
| 20Q2 (3) | -0.12 | -100.0 | 0.0 | 47.97 | 18.36 | 0.0 | -35.16 | -22.89 | 0.0 | -35.18 | -91.2 | 0.0 | -35.18 | -91.2 | 0.0 | -4.79 | -96.31 | 0.0 | -4.25 | -99.53 | 0.0 | 0.12 | 0.0 | 0.0 | -27.27 | -200.0 | 0.0 | 11.57 | -8.83 | 0.0 | 100.00 | -33.33 | 0.0 | 0.00 | 100.0 | 0.0 | 0.00 | 0 | 0.0 |
| 20Q1 (2) | -0.06 | -135.29 | 0.0 | 40.53 | -48.83 | 0.0 | -28.61 | 52.61 | 0.0 | -18.40 | -176.73 | 0.0 | -18.40 | -176.73 | 0.0 | -2.44 | -142.51 | 0.0 | -2.13 | -157.57 | 0.0 | 0.12 | -20.0 | 0.0 | -9.09 | -125.97 | 0.0 | 12.69 | -15.34 | 0.0 | 150.00 | 162.5 | 0.0 | -50.00 | -114.71 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q4 (1) | 0.17 | 0.0 | 0.0 | 79.20 | 0.0 | 0.0 | -60.37 | 0.0 | 0.0 | 23.98 | 0.0 | 0.0 | 23.98 | 0.0 | 0.0 | 5.74 | 0.0 | 0.0 | 3.70 | 0.0 | 0.0 | 0.15 | 0.0 | 0.0 | 35.00 | 0.0 | 0.0 | 14.99 | 0.0 | 0.0 | -240.00 | 0.0 | 0.0 | 340.00 | 0.0 | 0.0 | 39.10 | 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) | -0.96 | 0 | 45.16 | 8.25 | -122.43 | 0 | 15.00 | -4.0 | -100.33 | 0 | -100.33 | 0 | -20.89 | 0 | -18.95 | 0 | 0.19 | -9.52 | -85.00 | 0 | 9.98 | 2.15 | 122.50 | 1.38 | -22.50 | 0 | 0.00 | 0 | 128.24 | 13.54 |
| 2022 (9) | -0.73 | 0 | 41.72 | -9.74 | -90.63 | 0 | 15.62 | 61.46 | -74.25 | 0 | -73.89 | 0 | -16.91 | 0 | -15.46 | 0 | 0.21 | -46.15 | -56.25 | 0 | 9.77 | 37.8 | 120.83 | -32.87 | -20.83 | 0 | 0.00 | 0 | 112.95 | 129.2 |
| 2021 (8) | -0.17 | 0 | 46.22 | 26.6 | -29.29 | 0 | 9.68 | 112.9 | -17.05 | 0 | -17.05 | 0 | -7.38 | 0 | -6.62 | 0 | 0.39 | -20.41 | -6.45 | 0 | 7.09 | -50.21 | 180.00 | 41.43 | -80.00 | 0 | 0.00 | 0 | 49.28 | 11.39 |
| 2020 (7) | -0.34 | 0 | 36.51 | -52.91 | -31.00 | 0 | 4.55 | -57.27 | -24.77 | 0 | -24.77 | 0 | -13.82 | 0 | -11.98 | 0 | 0.49 | -26.87 | -20.45 | 0 | 14.24 | -5.0 | 127.27 | -46.26 | -27.27 | 0 | 0.00 | 0 | 44.24 | 10.3 |
| 2019 (6) | -0.55 | 0 | 77.53 | -6.08 | -47.98 | 0 | 10.64 | 28.99 | -20.65 | 0 | -20.68 | 0 | -22.52 | 0 | -13.16 | 0 | 0.67 | 63.41 | -6.38 | 0 | 14.99 | -85.8 | 236.84 | 150.25 | -136.84 | 0 | 0.00 | 0 | 40.11 | -6.76 |
| 2018 (5) | -1.98 | 0 | 82.55 | 2.75 | -54.32 | 0 | 8.25 | 41.03 | -58.02 | 0 | -67.16 | 0 | -54.85 | 0 | -27.36 | 0 | 0.41 | -31.67 | -46.39 | 0 | 105.55 | 12.77 | 94.64 | -8.74 | 7.14 | 0 | 2.17 | 0 | 43.02 | 54.8 |
| 2017 (4) | -1.71 | 0 | 80.34 | 1.09 | -32.53 | 0 | 5.85 | -56.66 | -31.71 | 0 | -31.89 | 0 | -31.79 | 0 | -18.74 | 0 | 0.60 | 46.34 | -24.56 | 0 | 93.60 | 104.95 | 103.70 | -29.39 | -1.85 | 0 | 0.00 | 0 | 27.79 | -20.96 |
| 2016 (3) | -0.90 | 0 | 79.47 | 3.61 | -37.09 | 0 | 13.49 | 2.26 | -25.09 | 0 | -23.00 | 0 | -13.85 | 0 | -9.03 | 0 | 0.41 | -2.38 | -9.52 | 0 | 45.67 | -6.93 | 146.88 | 24.52 | -46.88 | 0 | 0.00 | 0 | 35.16 | 20.49 |
| 2015 (2) | -1.09 | 0 | 76.70 | 8.27 | -32.18 | 0 | 13.19 | 164.99 | -27.22 | 0 | -23.98 | 0 | -14.07 | 0 | -9.70 | 0 | 0.42 | -45.45 | -11.11 | 0 | 49.07 | 52.91 | 117.95 | 68.5 | -17.95 | 0 | 0.00 | 0 | 29.18 | 33.42 |
| 2014 (1) | 0.38 | 0 | 70.84 | 0 | 2.89 | 0 | 4.98 | 104.15 | 4.26 | 0 | 4.92 | 0 | 4.57 | 0 | 3.94 | 0 | 0.77 | 175.0 | 9.96 | 0 | 32.09 | 341.4 | 70.00 | 68.0 | 30.00 | -48.57 | 0.00 | 0 | 21.87 | -40.88 |
