- 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) | 1.46 | 11.45 | -42.75 | 14.22 | -18.09 | -21.31 | 8.67 | -12.16 | -18.59 | 9.29 | -8.11 | -29.89 | 6.69 | -25.91 | -43.35 | 8.26 | 12.53 | -47.98 | 4.05 | 6.58 | -51.67 | 0.60 | 42.86 | -15.49 | 12.92 | -14.61 | -23.37 | 96.21 | -15.93 | -7.48 | 93.88 | -4.78 | 16.89 | 7.14 | 153.57 | -63.71 | 11.51 | -32.77 | -33.96 |
| 24Q2 (19) | 1.31 | 28.43 | -21.08 | 17.36 | 7.36 | -16.38 | 9.87 | 197.29 | -5.28 | 10.11 | 0.6 | -25.06 | 9.03 | -6.52 | -28.73 | 7.34 | 44.77 | -36.51 | 3.80 | 37.68 | -44.53 | 0.42 | 50.0 | -22.22 | 15.13 | -13.84 | -18.39 | 114.44 | 48.91 | 55.3 | 98.59 | 189.61 | 29.19 | 2.82 | -95.73 | -87.41 | 17.12 | -20.26 | 1.6 |
| 24Q1 (18) | 1.02 | -51.66 | 191.43 | 16.17 | -32.23 | -24.4 | 3.32 | -75.48 | -5.68 | 10.05 | -33.88 | 78.51 | 9.66 | -20.75 | 94.37 | 5.07 | -55.87 | 113.03 | 2.76 | -52.5 | 109.09 | 0.28 | -40.43 | 7.69 | 17.56 | -10.59 | 11.92 | 76.85 | -18.08 | 19.02 | 34.04 | -61.7 | -48.94 | 65.96 | 493.62 | 64.89 | 21.47 | 26.07 | -17.2 |
| 23Q4 (17) | 2.11 | -17.25 | 43.54 | 23.86 | 32.04 | 43.73 | 13.54 | 27.14 | 33.79 | 15.20 | 14.72 | 73.12 | 12.19 | 3.22 | 36.05 | 11.49 | -27.64 | -2.54 | 5.81 | -30.67 | -1.53 | 0.47 | -33.8 | -27.69 | 19.64 | 16.49 | 54.52 | 93.81 | -9.79 | -11.8 | 88.89 | 10.68 | -23.63 | 11.11 | -43.56 | 175.31 | 17.03 | -2.29 | 66.63 |
| 23Q3 (16) | 2.55 | 53.61 | 5200.0 | 18.07 | -12.96 | 31.51 | 10.65 | 2.21 | 586.3 | 13.25 | -1.78 | 779.49 | 11.81 | -6.79 | 994.7 | 15.88 | 37.37 | 2217.33 | 8.38 | 22.34 | 2305.26 | 0.71 | 31.48 | 121.87 | 16.86 | -9.06 | 116.15 | 103.99 | 41.12 | 9.57 | 80.31 | 5.24 | -19.69 | 19.69 | -12.0 | 218.11 | 17.43 | 3.44 | -29.09 |
| 23Q2 (15) | 1.66 | 374.29 | 252.29 | 20.76 | -2.95 | 2727.85 | 10.42 | 196.02 | 129.18 | 13.49 | 139.61 | 134.43 | 12.67 | 154.93 | 130.02 | 11.56 | 385.71 | 221.3 | 6.85 | 418.94 | 219.13 | 0.54 | 107.69 | 285.71 | 18.54 | 18.16 | 216.09 | 73.69 | 14.12 | 24.33 | 76.32 | 14.47 | -16.42 | 22.37 | -44.08 | 157.24 | 16.85 | -35.02 | -68.6 |
| 23Q1 (14) | 0.35 | -76.19 | 153.85 | 21.39 | 28.86 | 182.56 | 3.52 | -65.22 | 128.18 | 5.63 | -35.88 | 137.24 | 4.97 | -44.53 | 135.35 | 2.38 | -79.81 | 147.22 | 1.32 | -77.63 | 145.99 | 0.26 | -60.0 | 23.81 | 15.69 | 23.45 | 892.42 | 64.57 | -39.29 | -6.72 | 66.67 | -42.72 | -17.33 | 40.00 | 371.11 | 148.0 | 25.93 | 153.72 | -20.19 |
| 22Q4 (13) | 1.47 | 3040.0 | 116.18 | 16.60 | 20.82 | -9.83 | 10.12 | 562.1 | -5.68 | 8.78 | 550.26 | 25.97 | 8.96 | 778.79 | 39.78 | 11.79 | 1672.0 | 129.38 | 5.90 | 1652.63 | 83.8 | 0.65 | 103.12 | 32.65 | 12.71 | 62.95 | -1.85 | 106.36 | 12.06 | 37.19 | 116.39 | 16.39 | -24.83 | -14.75 | 11.48 | 73.1 | 10.22 | -58.42 | -21.2 |
| 22Q3 (12) | -0.05 | 95.41 | 94.57 | 13.74 | 1839.24 | 234.18 | -2.19 | 93.87 | 96.15 | -1.95 | 95.02 | 96.02 | -1.32 | 96.87 | 97.16 | -0.75 | 92.13 | 89.88 | -0.38 | 93.39 | 92.18 | 0.32 | 128.57 | 190.91 | 7.80 | 148.84 | 136.13 | 94.91 | 60.13 | 105.08 | 100.00 | 9.52 | -14.0 | -16.67 | -291.67 | -2.38 | 24.58 | -54.19 | -65.12 |
| 22Q2 (11) | -1.09 | -67.69 | 31.87 | -0.79 | -110.44 | 97.77 | -35.71 | -185.91 | 57.38 | -39.18 | -159.13 | 53.55 | -42.20 | -200.14 | 50.0 | -9.53 | -89.09 | 20.12 | -5.75 | -100.35 | 24.64 | 0.14 | -33.33 | 55.56 | -15.97 | -706.57 | 69.83 | 59.27 | -14.37 | 7.04 | 91.30 | 13.22 | -7.41 | 8.70 | -46.09 | 0 | 53.66 | 65.16 | -28.79 |
| 22Q1 (10) | -0.65 | -195.59 | -306.25 | 7.57 | -58.88 | -52.15 | -12.49 | -216.4 | -203.89 | -15.12 | -316.93 | -270.59 | -14.06 | -319.34 | -239.61 | -5.04 | -198.05 | -260.0 | -2.87 | -189.41 | -250.0 | 0.21 | -57.14 | 0.0 | -1.98 | -115.29 | -123.88 | 69.22 | -10.72 | 24.77 | 80.65 | -47.92 | -19.35 | 16.13 | 129.41 | 0 | 32.49 | 150.5 | 0.78 |
| 21Q4 (9) | 0.68 | 173.91 | 217.24 | 18.41 | 279.79 | 155.69 | 10.73 | 118.87 | 267.66 | 6.97 | 114.21 | 212.6 | 6.41 | 113.77 | 193.85 | 5.14 | 169.37 | 226.29 | 3.21 | 166.05 | 242.04 | 0.49 | 345.45 | 44.12 | 12.95 | 159.98 | 786.99 | 77.53 | 67.52 | 10.0 | 154.84 | 33.16 | 47.8 | -54.84 | -236.87 | -1051.61 | 12.97 | -81.6 | -27.09 |
| 21Q3 (8) | -0.92 | 42.5 | -330.0 | -10.24 | 71.1 | -164.2 | -56.86 | 32.13 | -3698.73 | -49.05 | 41.84 | -932.77 | -46.54 | 44.86 | -892.84 | -7.41 | 37.89 | -317.94 | -4.86 | 36.3 | -351.81 | 0.11 | 22.22 | -65.62 | -21.59 | 59.22 | -239.38 | 46.28 | -16.42 | -44.52 | 116.28 | 17.92 | 394.19 | -16.28 | 0 | -123.06 | 70.48 | -6.46 | 182.37 |
| 21Q2 (7) | -1.60 | -900.0 | 15.34 | -35.43 | -323.96 | 46.59 | -83.78 | -1938.44 | 46.94 | -84.34 | -1967.16 | 45.3 | -84.40 | -1938.65 | 45.32 | -11.93 | -752.14 | 12.34 | -7.63 | -830.49 | 1.68 | 0.09 | -57.14 | 80.0 | -52.94 | -738.6 | 44.65 | 55.37 | -0.2 | -33.35 | 98.61 | -1.39 | -4.13 | -0.00 | 0 | 100.0 | 75.35 | 133.72 | 0 |
| 21Q1 (6) | -0.16 | 72.41 | 88.89 | 15.82 | 119.72 | 251.24 | -4.11 | 35.78 | 91.37 | -4.08 | 34.09 | 90.68 | -4.14 | 39.39 | 90.6 | -1.40 | 65.6 | 85.03 | -0.82 | 63.72 | 84.38 | 0.21 | -38.24 | 75.0 | 8.29 | 467.81 | 138.08 | 55.48 | -21.28 | -15.67 | 100.00 | -4.55 | -8.47 | -0.00 | 100.0 | 100.0 | 32.24 | 81.23 | -41.98 |
| 20Q4 (5) | -0.58 | -245.0 | -139.19 | 7.20 | -54.86 | -65.58 | -6.40 | -505.06 | -157.14 | -6.19 | -205.09 | -156.74 | -6.83 | -216.35 | -166.57 | -4.07 | -219.71 | -142.09 | -2.26 | -217.1 | -141.24 | 0.34 | 6.25 | -35.85 | 1.46 | -90.57 | -91.03 | 70.48 | -15.5 | -17.98 | 104.76 | 345.24 | 1.38 | -4.76 | -106.75 | -42.86 | 17.79 | -28.73 | 0 |
| 20Q3 (4) | 0.40 | 121.16 | 0.0 | 15.95 | 124.05 | 0.0 | 1.58 | 101.0 | 0.0 | 5.89 | 103.82 | 0.0 | 5.87 | 103.8 | 0.0 | 3.40 | 124.98 | 0.0 | 1.93 | 124.87 | 0.0 | 0.32 | 540.0 | 0.0 | 15.49 | 116.19 | 0.0 | 83.41 | 0.4 | 0.0 | 23.53 | -77.12 | 0.0 | 70.59 | 2570.59 | 0.0 | 24.96 | 0 | 0.0 |
| 20Q2 (3) | -1.89 | -31.25 | 0.0 | -66.33 | -534.13 | 0.0 | -157.91 | -231.47 | 0.0 | -154.20 | -252.22 | 0.0 | -154.36 | -250.5 | 0.0 | -13.61 | -45.56 | 0.0 | -7.76 | -47.81 | 0.0 | 0.05 | -58.33 | 0.0 | -95.65 | -339.37 | 0.0 | 83.08 | 26.28 | 0.0 | 102.86 | -5.86 | 0.0 | -2.86 | 69.14 | 0.0 | 0.00 | -100.0 | 0.0 |
| 20Q1 (2) | -1.44 | -197.3 | 0.0 | -10.46 | -150.0 | 0.0 | -47.64 | -525.36 | 0.0 | -43.78 | -501.28 | 0.0 | -44.04 | -529.24 | 0.0 | -9.35 | -196.69 | 0.0 | -5.25 | -195.8 | 0.0 | 0.12 | -77.36 | 0.0 | -21.77 | -233.8 | 0.0 | 65.79 | -23.44 | 0.0 | 109.26 | 5.73 | 0.0 | -9.26 | -177.78 | 0.0 | 55.57 | 0 | 0.0 |
| 19Q4 (1) | 1.48 | 0.0 | 0.0 | 20.92 | 0.0 | 0.0 | 11.20 | 0.0 | 0.0 | 10.91 | 0.0 | 0.0 | 10.26 | 0.0 | 0.0 | 9.67 | 0.0 | 0.0 | 5.48 | 0.0 | 0.0 | 0.53 | 0.0 | 0.0 | 16.27 | 0.0 | 0.0 | 85.93 | 0.0 | 0.0 | 103.33 | 0.0 | 0.0 | -3.33 | 0.0 | 0.0 | 0.00 | 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) | 6.68 | 0 | 20.76 | 59.82 | 10.71 | 0 | 4.73 | -41.32 | 13.07 | 0 | 11.38 | 0 | 40.91 | 0 | 20.68 | 0 | 1.81 | 52.1 | 17.94 | 165.78 | 93.81 | -11.8 | 82.04 | 474.25 | 18.26 | -78.69 | 0.18 | -47.83 | 18.09 | -12.78 |
| 2022 (9) | -0.31 | 0 | 12.99 | 40.13 | -0.23 | 0 | 8.06 | -32.47 | -1.62 | 0 | -1.50 | 0 | -3.42 | 0 | -1.65 | 0 | 1.19 | 50.63 | 6.75 | 372.03 | 106.36 | 37.19 | 14.29 | -83.97 | 85.71 | 688.57 | 0.34 | 76.23 | 20.74 | -31.62 |
| 2021 (8) | -2.00 | 0 | 9.27 | 177.54 | -9.79 | 0 | 11.93 | -7.89 | -11.03 | 0 | -11.08 | 0 | -15.19 | 0 | -8.57 | 0 | 0.79 | 11.27 | 1.43 | 0 | 77.53 | 10.0 | 89.13 | -22.83 | 10.87 | 0 | 0.20 | -28.12 | 30.33 | -8.84 |
| 2020 (7) | -3.30 | 0 | 3.34 | -78.49 | -18.69 | 0 | 12.96 | 45.99 | -16.25 | 0 | -16.58 | 0 | -20.93 | 0 | -11.55 | 0 | 0.71 | -36.04 | -2.77 | 0 | 70.48 | -17.98 | 115.50 | 34.75 | -14.73 | 0 | 0.27 | 55.03 | 33.27 | 44.4 |
| 2019 (6) | 0.09 | -96.3 | 15.53 | -19.49 | 0.48 | -94.12 | 8.87 | 75.51 | 0.59 | -92.93 | 0.48 | -92.32 | 0.90 | -94.49 | 0.71 | -92.85 | 1.11 | -29.75 | 9.70 | -28.04 | 85.93 | 47.47 | 85.71 | -12.07 | 14.29 | 750.0 | 0.18 | -7.11 | 23.04 | 25.49 |
| 2018 (5) | 2.43 | 78.68 | 19.29 | 16.13 | 8.17 | 39.9 | 5.06 | -27.05 | 8.34 | 53.03 | 6.25 | 66.22 | 16.34 | 47.74 | 9.93 | 62.52 | 1.58 | -0.63 | 13.48 | 5.48 | 58.27 | -23.03 | 97.48 | -8.52 | 1.68 | 0 | 0.19 | -30.12 | 18.36 | -9.87 |
| 2017 (4) | 1.36 | -13.38 | 16.61 | -17.69 | 5.84 | -2.83 | 6.93 | -26.9 | 5.45 | -5.22 | 3.76 | -21.34 | 11.06 | -32.89 | 6.11 | -9.08 | 1.59 | 20.45 | 12.78 | -19.77 | 75.70 | -21.57 | 106.56 | -0.1 | -6.56 | 0 | 0.27 | 0 | 20.37 | -19.29 |
| 2016 (3) | 1.57 | -5.99 | 20.18 | 25.5 | 6.01 | 38.48 | 9.48 | 27.18 | 5.75 | 76.92 | 4.78 | 73.19 | 16.48 | 3.06 | 6.72 | 54.13 | 1.32 | -0.75 | 15.93 | 38.4 | 96.52 | -71.42 | 106.67 | -20.99 | -4.44 | 0 | 0.00 | 0 | 25.24 | 0.0 |
| 2015 (2) | 1.67 | -78.23 | 16.08 | -25.86 | 4.34 | -64.83 | 7.46 | 136.09 | 3.25 | -73.27 | 2.76 | -72.65 | 15.99 | 0 | 4.36 | 0 | 1.33 | 0 | 11.51 | -24.57 | 337.68 | 0.41 | 135.00 | 32.13 | -35.00 | 0 | 0.00 | 0 | 25.24 | 30.78 |
| 2014 (1) | 7.67 | 0 | 21.69 | 0 | 12.34 | 0 | 3.16 | 0 | 12.16 | 0 | 10.09 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 15.26 | 0 | 336.29 | 0 | 102.17 | 0 | -2.17 | 0 | 0.00 | 0 | 19.30 | 0 |
