- 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) | 3.34 | 122.67 | 271.11 | 18.64 | -23.01 | -48.06 | 4.13 | -65.98 | 183.94 | 21.58 | 102.44 | 102.44 | 21.51 | 114.46 | 101.78 | 12.63 | 118.89 | 234.13 | 7.54 | 106.58 | 193.39 | 0.35 | -2.78 | 45.83 | 24.02 | 74.31 | 33.3 | 73.03 | 12.27 | 26.79 | 18.18 | -84.09 | 143.64 | 81.82 | 672.73 | -42.25 | 14.11 | 54.55 | 13.79 |
| 24Q2 (19) | 1.50 | -61.73 | 80.72 | 24.21 | 0.5 | -50.94 | 12.14 | 93.62 | 31.53 | 10.66 | -65.43 | -45.61 | 10.03 | -67.34 | -41.0 | 5.77 | -65.84 | 76.45 | 3.65 | -66.82 | 58.01 | 0.36 | 0.0 | 176.92 | 13.78 | -59.39 | -51.0 | 65.05 | 18.1 | 45.75 | 114.29 | 440.26 | 147.62 | -14.29 | -118.12 | -126.53 | 9.13 | 0.55 | -60.36 |
| 24Q1 (18) | 3.92 | 1804.35 | 19700.0 | 24.09 | 30.01 | -60.55 | 6.27 | -18.25 | 431.36 | 30.84 | 1626.73 | 5607.14 | 30.71 | 1379.58 | 5583.93 | 16.89 | 1635.45 | 24228.57 | 11.00 | 1792.31 | 0 | 0.36 | 24.14 | 300.0 | 33.93 | 1350.0 | 185.13 | 55.08 | 3.53 | 20.74 | 21.15 | 106.35 | 0 | 78.85 | -80.29 | 0 | 9.08 | -12.61 | -76.54 |
| 23Q4 (17) | -0.23 | -125.56 | -15.0 | 18.53 | -48.37 | -19.5 | 7.67 | 255.89 | 121.45 | -2.02 | -118.95 | 43.73 | -2.40 | -122.51 | 63.36 | -1.10 | -129.1 | -39.24 | -0.65 | -125.29 | -35.42 | 0.29 | 20.83 | 262.5 | 2.34 | -87.01 | -76.6 | 53.20 | -7.64 | 6.85 | -333.33 | -700.0 | -123.81 | 400.00 | 182.35 | 130.77 | 10.39 | -16.21 | -83.71 |
| 23Q3 (16) | 0.90 | 8.43 | -77.22 | 35.89 | -27.27 | -39.5 | -4.92 | -153.3 | 80.46 | 10.66 | -45.61 | -91.76 | 10.66 | -37.29 | -91.5 | 3.78 | 15.6 | -77.71 | 2.57 | 11.26 | -75.91 | 0.24 | 84.62 | 200.0 | 18.02 | -35.92 | -87.48 | 57.60 | 29.06 | 5.44 | -41.67 | -190.28 | -125.0 | 141.67 | 163.1 | 19.53 | 12.40 | -46.16 | -40.18 |
| 23Q2 (15) | 0.83 | 4250.0 | 102.44 | 49.35 | -19.19 | -15.55 | 9.23 | 682.2 | 174.7 | 19.60 | 3600.0 | 92.16 | 17.00 | 3135.71 | 66.67 | 3.27 | 4771.43 | 68.56 | 2.31 | 0 | 87.8 | 0.13 | 44.44 | 18.18 | 28.12 | 136.3 | 35.52 | 44.63 | -2.17 | -32.42 | 46.15 | 0 | 15.38 | 53.85 | 0 | -32.69 | 23.03 | -40.49 | -16.92 |
| 23Q1 (14) | -0.02 | 90.0 | -101.55 | 61.07 | 165.29 | 36.23 | 1.18 | 103.3 | 108.88 | -0.56 | 84.4 | -101.48 | -0.56 | 91.45 | -101.48 | -0.07 | 91.14 | -101.09 | 0.00 | 100.0 | -100.0 | 0.09 | 12.5 | -10.0 | 11.90 | 19.0 | -75.66 | 45.62 | -8.38 | -30.44 | 0.00 | -100.0 | 100.0 | 0.00 | 100.0 | -100.0 | 38.70 | -39.32 | 15.56 |
| 22Q4 (13) | -0.20 | -105.06 | 13.04 | 23.02 | -61.19 | -39.74 | -35.76 | -42.02 | 16.25 | -3.59 | -102.77 | 56.48 | -6.55 | -105.22 | -4.97 | -0.79 | -104.66 | 31.3 | -0.48 | -104.5 | 22.58 | 0.08 | 0.0 | -27.27 | 10.00 | -93.05 | 369.48 | 49.79 | -8.86 | -33.24 | 1400.00 | 7660.0 | 180.0 | -1300.00 | -1196.88 | -225.0 | 63.78 | 207.67 | -11.83 |
| 22Q3 (12) | 3.95 | 863.41 | 82.03 | 59.32 | 1.51 | 117.93 | -25.18 | -849.4 | -2697.78 | 129.43 | 1168.92 | 211.28 | 125.45 | 1129.9 | 201.71 | 16.96 | 774.23 | 45.33 | 10.67 | 767.48 | 58.78 | 0.08 | -27.27 | -50.0 | 143.90 | 593.49 | 200.86 | 54.63 | -17.28 | -17.8 | -18.52 | -146.3 | -437.04 | 118.52 | 48.15 | 18.52 | 20.73 | -25.22 | 97.43 |
| 22Q2 (11) | 0.41 | -68.22 | -81.86 | 58.44 | 30.36 | 37.64 | 3.36 | 125.28 | -77.4 | 10.20 | -73.12 | -71.29 | 10.20 | -73.12 | -71.29 | 1.94 | -69.78 | -85.93 | 1.23 | -67.89 | -82.8 | 0.11 | 10.0 | -45.0 | 20.75 | -57.56 | -50.2 | 66.04 | 0.7 | -21.99 | 40.00 | 213.33 | 0.0 | 80.00 | -40.87 | 41.18 | 27.72 | -17.23 | 12.91 |
| 22Q1 (10) | 1.29 | 660.87 | 92.54 | 44.83 | 17.36 | -9.73 | -13.29 | 68.88 | -69.08 | 37.94 | 559.88 | 186.77 | 37.94 | 708.01 | 186.77 | 6.42 | 658.26 | 42.98 | 3.83 | 717.74 | 71.75 | 0.10 | -9.09 | -37.5 | 48.89 | 2195.31 | 133.92 | 65.58 | -12.07 | -37.83 | -35.29 | -107.06 | 36.47 | 135.29 | 133.82 | -13.03 | 33.49 | -53.7 | -3.57 |
| 21Q4 (9) | -0.23 | -110.6 | 53.06 | 38.20 | 40.34 | 262.21 | -42.70 | -4644.44 | -133.08 | -8.25 | -119.84 | 11.95 | -6.24 | -115.01 | 33.9 | -1.15 | -109.85 | 65.57 | -0.62 | -109.23 | 61.25 | 0.11 | -31.25 | -38.89 | 2.13 | -95.55 | 0 | 74.58 | 12.22 | -31.43 | 500.00 | 14600.0 | 130.77 | -400.00 | -500.0 | -300.0 | 72.34 | 588.95 | 72.4 |
| 21Q3 (8) | 2.17 | -3.98 | 5325.0 | 27.22 | -35.89 | -57.87 | -0.90 | -106.05 | 94.49 | 41.58 | 17.03 | 4469.23 | 41.58 | 17.03 | 4469.23 | 11.67 | -15.37 | 3664.52 | 6.72 | -6.01 | 3100.0 | 0.16 | -20.0 | -11.11 | 47.83 | 14.78 | 433.82 | 66.46 | -21.5 | -28.97 | -3.45 | -108.62 | 99.69 | 100.00 | 76.47 | -91.67 | 10.50 | -57.23 | -81.56 |
| 21Q2 (7) | 2.26 | 237.31 | 236.97 | 42.46 | -14.5 | -26.78 | 14.87 | 289.19 | 156.07 | 35.53 | 168.56 | 196.34 | 35.53 | 168.56 | 196.34 | 13.79 | 207.13 | 231.46 | 7.15 | 220.63 | 222.22 | 0.20 | 25.0 | 25.0 | 41.67 | 99.38 | 244.64 | 84.66 | -19.74 | -4.28 | 40.00 | 172.0 | -45.0 | 56.67 | -63.57 | 107.78 | 24.55 | -29.31 | 0 |
| 21Q1 (6) | 0.67 | 236.73 | 118.93 | 49.66 | 310.87 | -22.83 | -7.86 | 57.1 | 58.54 | 13.23 | 241.2 | 117.31 | 13.23 | 240.15 | 117.31 | 4.49 | 234.43 | 123.36 | 2.23 | 239.37 | 118.57 | 0.16 | -11.11 | 0.0 | 20.90 | 0 | 130.36 | 105.48 | -3.02 | 53.78 | -55.56 | -125.64 | -312.96 | 155.56 | 255.56 | 104.44 | 34.73 | -17.23 | -35.66 |
| 20Q4 (5) | -0.49 | -1325.0 | -28.95 | -23.55 | -136.45 | -142.14 | -18.32 | -12.25 | 48.26 | -9.37 | -1129.67 | -7.83 | -9.44 | -1137.36 | -7.39 | -3.34 | -1177.42 | -77.66 | -1.60 | -861.9 | -33.33 | 0.18 | 0.0 | 28.57 | 0.00 | -100.0 | 100.0 | 108.76 | 16.23 | 108.15 | 216.67 | 119.7 | -45.83 | -100.00 | -108.33 | 66.67 | 41.96 | -26.32 | -12.38 |
| 20Q3 (4) | 0.04 | 102.42 | 0.0 | 64.61 | 11.42 | 0.0 | -16.32 | 38.46 | 0.0 | 0.91 | 102.47 | 0.0 | 0.91 | 102.47 | 0.0 | 0.31 | 102.96 | 0.0 | 0.21 | 103.59 | 0.0 | 0.18 | 12.5 | 0.0 | 8.96 | 131.1 | 0.0 | 93.57 | 5.79 | 0.0 | -1100.00 | -1612.5 | 0.0 | 1200.00 | 4300.0 | 0.0 | 56.95 | 0 | 0.0 |
| 20Q2 (3) | -1.65 | 53.39 | 0.0 | 57.99 | -9.88 | 0.0 | -26.52 | -39.87 | 0.0 | -36.88 | 51.73 | 0.0 | -36.88 | 51.73 | 0.0 | -10.49 | 45.42 | 0.0 | -5.85 | 51.29 | 0.0 | 0.16 | 0.0 | 0.0 | -28.81 | 58.16 | 0.0 | 88.45 | 28.95 | 0.0 | 72.73 | 178.79 | 0.0 | 27.27 | -64.16 | 0.0 | 0.00 | -100.0 | 0.0 |
| 20Q1 (2) | -3.54 | -831.58 | 0.0 | 64.35 | 15.14 | 0.0 | -18.96 | 46.46 | 0.0 | -76.41 | -779.29 | 0.0 | -76.41 | -769.28 | 0.0 | -19.22 | -922.34 | 0.0 | -12.01 | -900.83 | 0.0 | 0.16 | 14.29 | 0.0 | -68.85 | -3834.29 | 0.0 | 68.59 | 31.27 | 0.0 | 26.09 | -93.48 | 0.0 | 76.09 | 125.36 | 0.0 | 53.98 | 12.72 | 0.0 |
| 19Q4 (1) | -0.38 | 0.0 | 0.0 | 55.89 | 0.0 | 0.0 | -35.41 | 0.0 | 0.0 | -8.69 | 0.0 | 0.0 | -8.79 | 0.0 | 0.0 | -1.88 | 0.0 | 0.0 | -1.20 | 0.0 | 0.0 | 0.14 | 0.0 | 0.0 | -1.75 | 0.0 | 0.0 | 52.25 | 0.0 | 0.0 | 400.00 | 0.0 | 0.0 | -300.00 | 0.0 | 0.0 | 47.89 | 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) | 1.48 | -72.84 | 35.05 | -25.88 | 3.14 | 0 | 6.36 | -43.09 | 6.25 | -84.99 | 5.62 | -85.97 | 6.39 | -73.9 | 4.44 | -71.28 | 0.75 | 97.37 | 13.01 | -75.74 | 53.20 | 6.85 | 50.00 | 0 | 50.00 | -63.94 | 0.23 | 15.46 | 16.86 | -52.68 |
| 2022 (9) | 5.45 | 11.91 | 47.29 | 19.51 | -16.18 | 0 | 11.17 | 65.11 | 41.65 | 75.52 | 40.07 | 66.33 | 24.48 | -14.41 | 15.46 | 0.85 | 0.38 | -39.68 | 53.63 | 71.89 | 49.79 | -33.24 | -38.67 | 0 | 138.67 | 13.45 | 0.20 | -9.13 | 35.63 | 11.45 |
| 2021 (8) | 4.87 | 0 | 39.57 | 0.71 | -5.13 | 0 | 6.77 | -3.76 | 23.73 | 0 | 24.09 | 0 | 28.60 | 0 | 15.33 | 0 | 0.63 | -1.56 | 31.20 | 0 | 74.58 | -31.43 | -22.22 | 0 | 122.22 | 293.24 | 0.22 | -10.71 | 31.97 | -38.23 |
| 2020 (7) | -5.64 | 0 | 39.29 | -35.07 | -19.84 | 0 | 7.03 | 6.98 | -29.00 | 0 | -29.02 | 0 | -32.49 | 0 | -18.28 | 0 | 0.64 | 18.52 | -21.09 | 0 | 108.76 | 108.15 | 68.92 | -45.7 | 31.08 | 0 | 0.25 | 1.0 | 51.76 | -9.11 |
| 2019 (6) | -3.92 | 0 | 60.51 | -14.15 | -30.99 | 0 | 6.57 | 111.27 | -24.25 | 0 | -24.27 | 0 | -17.75 | 0 | -12.91 | 0 | 0.54 | 8.0 | -16.43 | 0 | 52.25 | 132.64 | 126.92 | 1053.85 | -26.92 | 0 | 0.25 | -52.1 | 56.95 | 14.63 |
| 2018 (5) | -3.98 | 0 | 70.48 | 3.86 | -4.95 | 0 | 3.11 | 104.56 | -44.39 | 0 | -49.12 | 0 | -29.73 | 0 | -24.65 | 0 | 0.50 | -9.09 | -40.89 | 0 | 22.46 | 16.8 | 11.00 | -87.9 | 89.00 | 879.0 | 0.52 | 0 | 49.68 | -4.24 |
| 2017 (4) | -0.81 | 0 | 67.86 | 2.14 | -7.43 | 0 | 1.52 | 68.31 | -8.20 | 0 | -7.14 | 0 | -4.68 | 0 | -3.95 | 0 | 0.55 | -24.66 | -6.08 | 0 | 19.23 | 11.61 | 90.91 | 203.03 | 9.09 | -87.01 | 0.00 | 0 | 51.88 | 22.5 |
| 2016 (3) | -0.84 | 0 | 66.44 | -1.34 | -1.75 | 0 | 0.90 | 27.11 | -5.93 | 0 | -5.60 | 0 | -4.82 | 0 | -4.12 | 0 | 0.73 | -17.98 | -4.82 | 0 | 17.23 | 0.41 | 30.00 | -58.75 | 70.00 | 156.67 | 0.00 | 0 | 42.35 | 3.47 |
| 2015 (2) | 0.07 | -92.22 | 67.34 | -8.67 | 1.95 | -53.68 | 0.71 | 21.56 | 2.61 | -60.99 | 0.38 | -88.05 | 0.40 | -90.95 | 0.34 | -90.37 | 0.89 | -19.82 | 3.79 | -48.85 | 17.16 | -24.04 | 72.73 | 12.4 | 27.27 | -28.67 | 0.00 | 0 | 40.93 | -12.47 |
| 2014 (1) | 0.90 | -86.8 | 73.73 | 0 | 4.21 | 0 | 0.58 | 225.15 | 6.69 | 0 | 3.18 | 0 | 4.42 | 0 | 3.53 | 0 | 1.11 | -18.38 | 7.41 | -70.36 | 22.59 | -18.89 | 64.71 | -28.51 | 38.24 | 302.94 | 0.00 | 0 | 46.76 | 24.2 |
