- 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) | 0.34 | -27.66 | -78.88 | 29.22 | -2.6 | -27.2 | 3.50 | -49.49 | -79.46 | 5.22 | -31.85 | -75.73 | 4.83 | -32.07 | -73.59 | 0.99 | -27.74 | -78.57 | 0.80 | -25.23 | -77.46 | 0.16 | 6.67 | -15.79 | 15.60 | -17.15 | -47.19 | 23.85 | -26.77 | 7.58 | 64.71 | -26.05 | -17.73 | 35.29 | 323.53 | 74.51 | 40.09 | 11.36 | 13.96 |
| 24Q2 (19) | 0.47 | -12.96 | -57.66 | 30.00 | 3.7 | -15.23 | 6.93 | -16.2 | -52.21 | 7.66 | -19.62 | -49.2 | 7.11 | -13.71 | -50.52 | 1.37 | -9.27 | -58.98 | 1.07 | -12.3 | -55.42 | 0.15 | 0.0 | -6.25 | 18.83 | -7.38 | -21.64 | 32.57 | 15.54 | -17.98 | 87.50 | 1.5 | -7.45 | 8.33 | -39.58 | 129.17 | 36.00 | 12.04 | 5.94 |
| 24Q1 (18) | 0.54 | -5.26 | -39.33 | 28.93 | -9.14 | -18.58 | 8.27 | -24.68 | -49.17 | 9.53 | -5.74 | -39.65 | 8.24 | -9.25 | -38.6 | 1.51 | -5.03 | -41.92 | 1.22 | -6.87 | -36.46 | 0.15 | 7.14 | 7.14 | 20.33 | -4.46 | -22.2 | 28.19 | 35.2 | -34.81 | 86.21 | -21.63 | -15.52 | 13.79 | 237.93 | 775.86 | 32.13 | -5.33 | 8.4 |
| 23Q4 (17) | 0.57 | -64.6 | -61.22 | 31.84 | -20.68 | -15.79 | 10.98 | -35.56 | -6.55 | 10.11 | -53.0 | -51.77 | 9.08 | -50.36 | -56.18 | 1.59 | -65.58 | -62.23 | 1.31 | -63.1 | -59.44 | 0.14 | -26.32 | -6.67 | 21.28 | -27.96 | -29.21 | 20.85 | -5.95 | -36.89 | 110.00 | 39.86 | 92.5 | -10.00 | -149.44 | -122.58 | 33.94 | -3.52 | -19.23 |
| 23Q3 (16) | 1.61 | 45.05 | 57.84 | 40.14 | 13.42 | 7.61 | 17.04 | 17.52 | 16.39 | 21.51 | 42.64 | 18.91 | 18.29 | 27.28 | 26.31 | 4.62 | 38.32 | 56.61 | 3.55 | 47.92 | 65.89 | 0.19 | 18.75 | 26.67 | 29.54 | 22.93 | 13.4 | 22.17 | -44.17 | -24.62 | 78.65 | -16.81 | -3.69 | 20.22 | 456.18 | 1.12 | 35.18 | 3.53 | -10.09 |
| 23Q2 (15) | 1.11 | 24.72 | -27.92 | 35.39 | -0.39 | -15.09 | 14.50 | -10.88 | -26.25 | 15.08 | -4.5 | -30.09 | 14.37 | 7.08 | -24.17 | 3.34 | 28.46 | -26.27 | 2.40 | 25.0 | -20.79 | 0.16 | 14.29 | 0.0 | 24.03 | -8.04 | -12.65 | 39.71 | -8.16 | -15.6 | 94.55 | -7.35 | 4.5 | 3.64 | 278.18 | -56.36 | 33.98 | 14.64 | -9.87 |
| 23Q1 (14) | 0.89 | -39.46 | -45.4 | 35.53 | -6.03 | -12.08 | 16.27 | 38.47 | -21.29 | 15.79 | -24.67 | -28.91 | 13.42 | -35.23 | -24.48 | 2.60 | -38.24 | -43.97 | 1.92 | -40.56 | -40.37 | 0.14 | -6.67 | -22.22 | 26.13 | -13.07 | -4.98 | 43.24 | 30.87 | -17.61 | 102.04 | 78.57 | 9.89 | -2.04 | -104.61 | -128.57 | 29.64 | -29.46 | -14.31 |
| 22Q4 (13) | 1.47 | 44.12 | -7.55 | 37.81 | 1.37 | -12.7 | 11.75 | -19.74 | -39.9 | 20.96 | 15.87 | 6.4 | 20.72 | 43.09 | 23.78 | 4.21 | 42.71 | -13.2 | 3.23 | 50.93 | -2.71 | 0.15 | 0.0 | -25.0 | 30.06 | 15.39 | 20.53 | 33.04 | 12.34 | -11.25 | 57.14 | -30.03 | -42.86 | 44.29 | 121.43 | 3531.43 | 42.02 | 7.39 | 13.41 |
| 22Q3 (12) | 1.02 | -33.77 | -47.42 | 37.30 | -10.51 | -13.4 | 14.64 | -25.53 | -33.85 | 18.09 | -16.13 | -20.69 | 14.48 | -23.59 | -21.05 | 2.95 | -34.88 | -63.12 | 2.14 | -29.37 | -53.98 | 0.15 | -6.25 | -40.0 | 26.05 | -5.31 | -4.09 | 29.41 | -37.49 | -51.65 | 81.67 | -9.74 | -15.95 | 20.00 | 140.0 | 606.67 | 39.13 | 3.79 | 16.46 |
| 22Q2 (11) | 1.54 | -5.52 | -15.85 | 41.68 | 3.14 | -3.29 | 19.66 | -4.89 | -7.4 | 21.57 | -2.88 | 2.52 | 18.95 | 6.64 | 3.55 | 4.53 | -2.37 | -44.35 | 3.03 | -5.9 | -32.96 | 0.16 | -11.11 | -36.0 | 27.51 | 0.04 | 8.31 | 47.05 | -10.35 | -45.16 | 90.48 | -2.56 | -10.5 | 8.33 | 16.67 | 866.67 | 37.70 | 8.99 | 10.11 |
| 22Q1 (10) | 1.63 | 2.52 | 27.34 | 40.41 | -6.7 | 1.38 | 20.67 | 5.73 | 13.38 | 22.21 | 12.74 | 21.5 | 17.77 | 6.15 | 22.64 | 4.64 | -4.33 | -18.17 | 3.22 | -3.01 | -9.3 | 0.18 | -10.0 | -25.0 | 27.50 | 10.26 | 18.53 | 52.48 | 40.96 | -30.87 | 92.86 | -7.14 | -7.14 | 7.14 | 485.71 | 0 | 34.59 | -6.64 | 5.46 |
| 21Q4 (9) | 1.59 | -18.04 | 30.33 | 43.31 | 0.56 | 12.49 | 19.55 | -11.66 | 8.31 | 19.70 | -13.63 | 25.56 | 16.74 | -8.72 | 20.35 | 4.85 | -39.38 | -5.09 | 3.32 | -28.6 | -5.95 | 0.20 | -20.0 | -20.0 | 24.94 | -8.17 | 20.83 | 37.23 | -38.8 | -20.06 | 100.00 | 2.91 | -13.43 | 1.22 | -56.91 | 107.86 | 37.05 | 10.27 | 30.64 |
| 21Q3 (8) | 1.94 | 6.01 | 100.0 | 43.07 | -0.07 | 16.85 | 22.13 | 4.24 | 36.52 | 22.81 | 8.41 | 53.6 | 18.34 | 0.22 | 55.42 | 8.00 | -1.72 | 81.41 | 4.65 | 2.88 | 56.04 | 0.25 | 0.0 | 0.0 | 27.16 | 6.93 | 35.8 | 60.83 | -29.09 | 38.98 | 97.17 | -3.88 | -11.21 | 2.83 | 360.38 | 130.0 | 33.60 | -1.87 | 37.59 |
| 21Q2 (7) | 1.83 | 42.97 | 101.1 | 43.10 | 8.13 | 21.55 | 21.23 | 16.46 | 432.08 | 21.04 | 15.1 | 19.75 | 18.30 | 26.29 | 13.81 | 8.14 | 43.56 | 98.05 | 4.52 | 27.32 | 60.28 | 0.25 | 4.17 | 47.06 | 25.40 | 9.48 | 2.42 | 85.79 | 13.02 | 58.08 | 101.09 | 1.09 | 354.89 | -1.09 | 0 | -101.4 | 34.24 | 4.39 | -28.74 |
| 21Q1 (6) | 1.28 | 4.92 | 0 | 39.86 | 3.53 | 0 | 18.23 | 1.0 | 0 | 18.28 | 16.51 | 0 | 14.49 | 4.17 | 0 | 5.67 | 10.96 | 0 | 3.55 | 0.57 | 0 | 0.24 | -4.0 | 0 | 23.20 | 12.4 | 0 | 75.91 | 63.0 | 0 | 100.00 | -13.43 | 0 | 0.00 | 100.0 | 0 | 32.80 | 15.66 | 0 |
| 20Q4 (5) | 1.22 | 25.77 | 0 | 38.50 | 4.45 | 0 | 18.05 | 11.35 | 0 | 15.69 | 5.66 | 0 | 13.91 | 17.88 | 0 | 5.11 | 15.87 | 0 | 3.53 | 18.46 | 0 | 0.25 | 0.0 | 0 | 20.64 | 3.2 | 0 | 46.57 | 6.4 | 0 | 115.52 | 5.56 | 0 | -15.52 | -64.48 | 0 | 28.36 | 16.13 | 0 |
| 20Q3 (4) | 0.97 | 6.59 | 0.0 | 36.86 | 3.95 | 0.0 | 16.21 | 306.27 | 0.0 | 14.85 | -15.48 | 0.0 | 11.80 | -26.62 | 0.0 | 4.41 | 7.3 | 0.0 | 2.98 | 5.67 | 0.0 | 0.25 | 47.06 | 0.0 | 20.00 | -19.35 | 0.0 | 43.77 | -19.35 | 0.0 | 109.43 | 392.45 | 0.0 | -9.43 | -112.13 | 0.0 | 24.42 | -49.18 | 0.0 |
| 20Q2 (3) | 0.91 | 0 | 0.0 | 35.46 | 0 | 0.0 | 3.99 | 0 | 0.0 | 17.57 | 0 | 0.0 | 16.08 | 0 | 0.0 | 4.11 | 0 | 0.0 | 2.82 | 0 | 0.0 | 0.17 | 0 | 0.0 | 24.80 | 0 | 0.0 | 54.27 | 0 | 0.0 | 22.22 | 0 | 0.0 | 77.78 | 0 | 0.0 | 48.05 | 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) | 4.18 | -26.41 | 36.08 | -8.57 | 14.90 | -12.66 | 9.05 | 38.45 | 16.10 | -22.74 | 14.19 | -21.17 | 11.48 | -26.22 | 9.14 | -20.8 | 0.64 | 0.0 | 25.56 | -7.69 | 20.85 | -36.89 | 92.79 | 13.09 | 7.21 | -60.55 | 0.29 | 7.87 | 33.36 | -12.39 |
| 2022 (9) | 5.68 | -13.94 | 39.46 | -6.96 | 17.06 | -16.29 | 6.54 | 48.71 | 20.84 | 1.31 | 18.00 | 5.51 | 15.56 | -24.72 | 11.54 | -21.82 | 0.64 | -25.58 | 27.69 | 9.36 | 33.04 | -11.25 | 82.05 | -17.24 | 18.27 | 2037.5 | 0.27 | -18.63 | 38.08 | 10.6 |
| 2021 (8) | 6.60 | 64.59 | 42.41 | 12.73 | 20.38 | 45.57 | 4.40 | -16.47 | 20.57 | 29.78 | 17.06 | 27.03 | 20.67 | 20.17 | 14.76 | 25.51 | 0.86 | -1.15 | 25.32 | 17.66 | 37.23 | -20.06 | 99.15 | 12.29 | 0.85 | -92.7 | 0.33 | -28.68 | 34.43 | 4.08 |
| 2020 (7) | 4.01 | 3.08 | 37.62 | -5.0 | 14.00 | -16.52 | 5.26 | 32.89 | 15.85 | -12.62 | 13.43 | -6.48 | 17.20 | -6.57 | 11.76 | -9.68 | 0.87 | -3.33 | 21.52 | -4.36 | 46.57 | -1.81 | 88.29 | -4.11 | 11.71 | 57.66 | 0.46 | 0 | 33.08 | -1.34 |
| 2019 (6) | 3.89 | 9.89 | 39.60 | -2.25 | 16.77 | -17.02 | 3.96 | 60.68 | 18.14 | -13.41 | 14.36 | -13.65 | 18.41 | -7.3 | 13.02 | -6.53 | 0.90 | 8.43 | 22.50 | -4.62 | 47.43 | 36.1 | 92.08 | -4.17 | 7.43 | 121.53 | 0.00 | 0 | 33.53 | 0.66 |
| 2018 (5) | 3.54 | 10.62 | 40.51 | -2.53 | 20.21 | -5.47 | 2.46 | -4.26 | 20.95 | 5.97 | 16.63 | -4.26 | 19.86 | 0 | 13.93 | 0 | 0.83 | 0 | 23.59 | 4.89 | 34.85 | -33.31 | 96.09 | -11.21 | 3.35 | 0 | 0.00 | 0 | 33.31 | 13.53 |
| 2017 (4) | 3.20 | 0 | 41.56 | 0 | 21.38 | 0 | 2.57 | 0 | 19.77 | 0 | 17.37 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 22.49 | 0 | 52.26 | 0 | 108.22 | 0 | -8.22 | 0 | 0.00 | 0 | 29.34 | 0 |
