- 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) | 0.88 | -12.0 | -9.28 | 72.72 | -1.49 | -0.67 | 29.79 | -0.37 | 7.43 | 33.67 | -8.83 | -20.68 | 27.29 | -10.41 | -22.76 | 3.42 | -14.5 | -19.15 | 2.29 | -12.6 | -19.65 | 0.08 | -11.11 | 0.0 | 36.48 | -7.83 | -19.59 | 46.01 | -14.27 | 3.67 | 89.06 | 9.97 | 35.57 | 11.72 | -38.37 | -66.55 | 55.02 | 6.2 | 0.64 |
| 24Q2 (19) | 1.00 | -1.96 | 19.05 | 73.82 | 0.15 | -0.05 | 29.90 | 1.01 | 4.73 | 36.93 | -6.84 | -11.08 | 30.46 | -5.52 | 0.2 | 4.00 | -5.44 | 3.9 | 2.62 | -6.43 | 3.56 | 0.09 | 0.0 | 12.5 | 39.58 | -6.21 | -11.3 | 53.67 | 4.15 | 1.72 | 80.99 | 8.96 | 17.56 | 19.01 | -23.94 | -38.88 | 51.81 | 0.62 | -5.11 |
| 24Q1 (18) | 1.02 | 10.87 | 59.38 | 73.71 | -5.79 | 0.15 | 29.60 | -14.62 | -0.5 | 39.64 | 16.25 | 24.19 | 32.24 | 23.43 | 36.21 | 4.23 | 8.74 | 38.69 | 2.80 | 6.06 | 41.41 | 0.09 | -10.0 | 12.5 | 42.20 | 15.78 | 20.99 | 51.53 | 1.68 | -1.79 | 74.32 | -27.21 | -20.26 | 25.00 | 1875.0 | 267.86 | 51.49 | 13.61 | -3.01 |
| 23Q4 (17) | 0.92 | -5.15 | -8.0 | 78.24 | 6.87 | -0.76 | 34.67 | 25.03 | -17.43 | 34.10 | -19.67 | -10.17 | 26.12 | -26.07 | -14.95 | 3.89 | -8.04 | -19.13 | 2.64 | -7.37 | -16.46 | 0.10 | 25.0 | 0.0 | 36.45 | -19.66 | -9.91 | 50.68 | 14.2 | -11.31 | 102.11 | 55.44 | -7.91 | -1.41 | -104.02 | 87.06 | 45.32 | -17.1 | 6.76 |
| 23Q3 (16) | 0.97 | 15.48 | 44.78 | 73.21 | -0.88 | -1.07 | 27.73 | -2.87 | 3.28 | 42.45 | 2.22 | 26.83 | 35.33 | 16.22 | 31.05 | 4.23 | 9.87 | 25.15 | 2.85 | 12.65 | 31.34 | 0.08 | 0.0 | 0.0 | 45.37 | 1.68 | 23.62 | 44.38 | -15.88 | -7.48 | 65.69 | -4.64 | -18.7 | 35.04 | 12.62 | 73.43 | 54.67 | 0.13 | -1.03 |
| 23Q2 (15) | 0.84 | 31.25 | 40.0 | 73.86 | 0.35 | 0.27 | 28.55 | -4.03 | -3.84 | 41.53 | 30.11 | 29.26 | 30.40 | 28.43 | 24.03 | 3.85 | 26.23 | 26.64 | 2.53 | 27.78 | 31.77 | 0.08 | 0.0 | 0.0 | 44.62 | 27.92 | 26.98 | 52.76 | 0.55 | -17.76 | 68.89 | -26.09 | -25.63 | 31.11 | 357.78 | 322.22 | 54.60 | 2.84 | -3.35 |
| 23Q1 (14) | 0.64 | -36.0 | 16.36 | 73.60 | -6.65 | 1.36 | 29.75 | -29.15 | 4.79 | 31.92 | -15.91 | 6.33 | 23.67 | -22.92 | -0.34 | 3.05 | -36.59 | 11.31 | 1.98 | -37.34 | 17.86 | 0.08 | -20.0 | 14.29 | 34.88 | -13.79 | 4.65 | 52.47 | -8.17 | -1.34 | 93.20 | -15.94 | -0.97 | 6.80 | 162.44 | 15.53 | 53.09 | 25.06 | -6.33 |
| 22Q4 (13) | 1.00 | 49.25 | 16.28 | 78.84 | 6.54 | 3.27 | 41.99 | 56.39 | 6.79 | 37.96 | 13.41 | -1.89 | 30.71 | 13.91 | 0.36 | 4.81 | 42.31 | 11.34 | 3.16 | 45.62 | 16.61 | 0.10 | 25.0 | 11.11 | 40.46 | 10.25 | -0.64 | 57.14 | 19.12 | -22.57 | 110.88 | 37.22 | 9.19 | -10.88 | -153.88 | -602.04 | 42.45 | -23.15 | -7.17 |
| 22Q3 (12) | 0.67 | 11.67 | 6.35 | 74.00 | 0.46 | -2.31 | 26.85 | -9.57 | -19.85 | 33.47 | 4.17 | -3.43 | 26.96 | 10.0 | -2.14 | 3.38 | 11.18 | 2.42 | 2.17 | 13.02 | -0.91 | 0.08 | 0.0 | 0.0 | 36.70 | 4.44 | -0.81 | 47.97 | -25.22 | 6.62 | 80.81 | -12.76 | -15.64 | 20.20 | 174.17 | 539.73 | 55.24 | -2.21 | 4.64 |
| 22Q2 (11) | 0.60 | 9.09 | -14.29 | 73.66 | 1.45 | -1.71 | 29.69 | 4.58 | -3.32 | 32.13 | 7.03 | 1.23 | 24.51 | 3.2 | -18.05 | 3.04 | 10.95 | -38.09 | 1.92 | 14.29 | -33.56 | 0.08 | 14.29 | -20.0 | 35.14 | 5.43 | 4.21 | 64.15 | 20.63 | 13.94 | 92.63 | -1.58 | -3.85 | 7.37 | 25.26 | 101.4 | 56.49 | -0.34 | 2.24 |
| 22Q1 (10) | 0.55 | -36.05 | 34.15 | 72.61 | -4.89 | -2.27 | 28.39 | -27.8 | 1.5 | 30.02 | -22.41 | 3.88 | 23.75 | -22.39 | 27.21 | 2.74 | -36.57 | -45.42 | 1.68 | -38.01 | -30.29 | 0.07 | -22.22 | -46.15 | 33.33 | -18.15 | 7.76 | 53.18 | -27.94 | -48.97 | 94.12 | -7.32 | -3.03 | 5.88 | 479.41 | 100.0 | 56.68 | 23.94 | -0.84 |
| 21Q4 (9) | 0.86 | 36.51 | 6.17 | 76.34 | 0.78 | 3.32 | 39.32 | 17.37 | 9.37 | 38.69 | 11.63 | -0.49 | 30.60 | 11.07 | -3.32 | 4.32 | 30.91 | -60.11 | 2.71 | 23.74 | -46.34 | 0.09 | 12.5 | -43.75 | 40.72 | 10.05 | 0.17 | 73.80 | 64.04 | -34.63 | 101.55 | 6.01 | 9.67 | -1.55 | -149.1 | -120.93 | 45.73 | -13.37 | -3.5 |
| 21Q3 (8) | 0.63 | -10.0 | 70.27 | 75.75 | 1.08 | 3.53 | 33.50 | 9.08 | 32.73 | 34.66 | 9.2 | 46.55 | 27.55 | -7.89 | 47.41 | 3.30 | -32.79 | -38.43 | 2.19 | -24.22 | -8.75 | 0.08 | -20.0 | -38.46 | 37.00 | 9.73 | 43.36 | 44.99 | -20.09 | -61.41 | 95.79 | -0.57 | -11.18 | 3.16 | -13.68 | 153.68 | 52.79 | -4.45 | -7.61 |
| 21Q2 (7) | 0.70 | 70.73 | 66.67 | 74.94 | 0.86 | 2.04 | 30.71 | 9.8 | 29.91 | 31.74 | 9.83 | 31.48 | 29.91 | 60.2 | 32.7 | 4.91 | -2.19 | -20.93 | 2.89 | 19.92 | 3.58 | 0.10 | -23.08 | -16.67 | 33.72 | 9.02 | 25.96 | 56.30 | -45.98 | -57.67 | 96.34 | -0.74 | -1.61 | 3.66 | 24.39 | 75.61 | 55.25 | -3.34 | -4.53 |
| 21Q1 (6) | 0.41 | -49.38 | 0 | 74.30 | 0.55 | 0 | 27.97 | -22.2 | 0 | 28.90 | -25.67 | 0 | 18.67 | -41.01 | 0 | 5.02 | -53.65 | 0 | 2.41 | -52.28 | 0 | 0.13 | -18.75 | 0 | 30.93 | -23.91 | 0 | 104.22 | -7.69 | 0 | 97.06 | 4.82 | 0 | 2.94 | -60.29 | 0 | 57.16 | 20.62 | 0 |
| 20Q4 (5) | 0.81 | 118.92 | 0 | 73.89 | 0.98 | 0 | 35.95 | 42.43 | 0 | 38.88 | 64.4 | 0 | 31.65 | 69.34 | 0 | 10.83 | 102.05 | 0 | 5.05 | 110.42 | 0 | 0.16 | 23.08 | 0 | 40.65 | 57.5 | 0 | 112.90 | -3.16 | 0 | 92.59 | -14.14 | 0 | 7.41 | 225.93 | 0 | 47.39 | -17.06 | 0 |
| 20Q3 (4) | 0.37 | -11.9 | 0.0 | 73.17 | -0.37 | 0.0 | 25.24 | 6.77 | 0.0 | 23.65 | -2.03 | 0.0 | 18.69 | -17.08 | 0.0 | 5.36 | -13.69 | 0.0 | 2.40 | -13.98 | 0.0 | 0.13 | 8.33 | 0.0 | 25.81 | -3.59 | 0.0 | 116.59 | -12.33 | 0.0 | 107.84 | 10.14 | 0.0 | -5.88 | -382.35 | 0.0 | 57.14 | -1.26 | 0.0 |
| 20Q2 (3) | 0.42 | 0 | 0.0 | 73.44 | 0 | 0.0 | 23.64 | 0 | 0.0 | 24.14 | 0 | 0.0 | 22.54 | 0 | 0.0 | 6.21 | 0 | 0.0 | 2.79 | 0 | 0.0 | 0.12 | 0 | 0.0 | 26.77 | 0 | 0.0 | 132.99 | 0 | 0.0 | 97.92 | 0 | 0.0 | 2.08 | 0 | 0.0 | 57.87 | 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) | 3.37 | 19.08 | 74.96 | -0.19 | 30.48 | -6.24 | 2.74 | -6.61 | 37.27 | 10.4 | 28.69 | 6.97 | 14.98 | 8.87 | 9.75 | 16.91 | 0.34 | 9.68 | 40.10 | 9.15 | 50.68 | -11.31 | 81.66 | -15.36 | 18.15 | 383.16 | 0.14 | -7.0 | 51.48 | -0.87 |
| 2022 (9) | 2.83 | 9.69 | 75.10 | -0.44 | 32.51 | -2.75 | 2.93 | 40.24 | 33.76 | -0.62 | 26.82 | -1.14 | 13.76 | -24.77 | 8.34 | -16.1 | 0.31 | -16.22 | 36.74 | 1.89 | 57.14 | -22.57 | 96.48 | -1.95 | 3.76 | 134.12 | 0.15 | 112.63 | 51.93 | -0.44 |
| 2021 (8) | 2.58 | 34.38 | 75.43 | 3.81 | 33.43 | 20.04 | 2.09 | -8.61 | 33.97 | 16.94 | 27.13 | 14.57 | 18.29 | -33.13 | 9.94 | -21.86 | 0.37 | -31.48 | 36.06 | 14.73 | 73.80 | -34.63 | 98.40 | 2.43 | 1.60 | -62.96 | 0.07 | -56.61 | 52.16 | -5.01 |
| 2020 (7) | 1.92 | 100.0 | 72.66 | 8.66 | 27.85 | 62.11 | 2.29 | -23.54 | 29.05 | 50.83 | 23.68 | 54.17 | 27.35 | 62.7 | 12.72 | 87.33 | 0.54 | 22.73 | 31.43 | 41.13 | 112.90 | -5.09 | 96.06 | 7.76 | 4.33 | -60.1 | 0.16 | 0 | 54.91 | -6.17 |
| 2019 (6) | 0.96 | 3.23 | 66.87 | -1.02 | 17.18 | 64.88 | 2.99 | 76.38 | 19.26 | 47.59 | 15.36 | 10.58 | 16.81 | -12.08 | 6.79 | 21.47 | 0.44 | 10.0 | 22.27 | 49.66 | 118.96 | -34.92 | 89.15 | 11.84 | 10.85 | -46.51 | 0.00 | 0 | 58.52 | -6.84 |
| 2018 (5) | 0.93 | 9200.0 | 67.56 | -1.85 | 10.42 | 182.38 | 1.69 | -9.11 | 13.05 | 460.09 | 13.89 | 420.22 | 19.12 | 0 | 5.59 | 0 | 0.40 | 0 | 14.88 | 254.29 | 182.80 | -54.46 | 79.71 | -50.18 | 20.29 | 0 | 0.00 | 0 | 62.82 | -3.67 |
| 2017 (4) | 0.01 | 0 | 68.83 | 0 | 3.69 | 0 | 1.86 | 0 | 2.33 | 0 | 2.67 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 4.20 | 0 | 401.38 | 0 | 160.00 | 0 | -60.00 | 0 | 0.00 | 0 | 65.21 | 0 |
