- 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) | 0.55 | -21.43 | -63.33 | 46.88 | -6.89 | 8.64 | 16.87 | 33.89 | -26.49 | 14.85 | -17.5 | -44.47 | 10.44 | -12.34 | -51.51 | 1.54 | -25.96 | -67.44 | 1.33 | -21.3 | -65.98 | 0.13 | -7.14 | -27.78 | 20.36 | -10.03 | -33.0 | 11.36 | -45.83 | -25.85 | 112.12 | 59.14 | 31.1 | -12.12 | -141.03 | -183.75 | 23.51 | -28.26 | 54.67 |
| 24Q2 (19) | 0.70 | -27.84 | -52.7 | 50.35 | 15.38 | 10.44 | 12.60 | -13.04 | -53.19 | 18.00 | -22.91 | -39.62 | 11.91 | -33.05 | -48.51 | 2.08 | -29.01 | -57.2 | 1.69 | -31.02 | -55.53 | 0.14 | 0.0 | -12.5 | 22.63 | -20.26 | -33.15 | 20.97 | -15.44 | -22.04 | 70.45 | 14.49 | -21.38 | 29.55 | -23.18 | 225.0 | 32.77 | 34.41 | 148.82 |
| 24Q1 (18) | 0.97 | -34.01 | 0.0 | 43.64 | -12.39 | -4.99 | 14.49 | -52.59 | -34.82 | 23.35 | -14.12 | 5.94 | 17.79 | -20.83 | 0.23 | 2.93 | -33.41 | -7.28 | 2.45 | -35.86 | -3.54 | 0.14 | -17.65 | 0.0 | 28.38 | -9.73 | 7.18 | 24.80 | 64.46 | -16.05 | 61.54 | -45.3 | -39.72 | 38.46 | 407.69 | 0 | 24.38 | 74.89 | 29.34 |
| 23Q4 (17) | 1.47 | -2.0 | 7.3 | 49.81 | 15.43 | 7.05 | 30.56 | 33.16 | 16.69 | 27.19 | 1.68 | 3.03 | 22.47 | 4.37 | 7.56 | 4.40 | -6.98 | 7.58 | 3.82 | -2.3 | 9.46 | 0.17 | -5.56 | 0.0 | 31.44 | 3.46 | 4.52 | 15.08 | -1.57 | -21.38 | 112.50 | 31.54 | 12.5 | -12.50 | -186.36 | -937.5 | 13.94 | -8.29 | -10.7 |
| 23Q3 (16) | 1.50 | 1.35 | -15.25 | 43.15 | -5.35 | -8.64 | 22.95 | -14.75 | -18.96 | 26.74 | -10.3 | -14.87 | 21.53 | -6.92 | -15.57 | 4.73 | -2.67 | -13.84 | 3.91 | 2.89 | -13.5 | 0.18 | 12.5 | 0.0 | 30.39 | -10.22 | -12.87 | 15.32 | -43.05 | 2.47 | 85.53 | -4.56 | -5.92 | 14.47 | 59.21 | 41.52 | 15.20 | 15.41 | -3.12 |
| 23Q2 (15) | 1.48 | 52.58 | -31.48 | 45.59 | -0.74 | -7.41 | 26.92 | 21.1 | -16.03 | 29.81 | 35.25 | -12.71 | 23.13 | 30.31 | -10.66 | 4.86 | 53.8 | -44.07 | 3.80 | 49.61 | -38.51 | 0.16 | 14.29 | -33.33 | 33.85 | 27.83 | -8.61 | 26.90 | -8.94 | -5.41 | 89.61 | -12.22 | -4.36 | 9.09 | 0 | 44.16 | 13.17 | -30.13 | -10.41 |
| 23Q1 (14) | 0.97 | -29.2 | -59.07 | 45.93 | -1.29 | -6.85 | 22.23 | -15.12 | -31.33 | 22.04 | -16.48 | -34.4 | 17.75 | -15.03 | -34.93 | 3.16 | -22.74 | -75.64 | 2.54 | -27.22 | -69.14 | 0.14 | -17.65 | -53.33 | 26.48 | -11.97 | -27.17 | 29.54 | 54.01 | -54.23 | 102.08 | 2.08 | 6.05 | 0.00 | -100.0 | -100.0 | 18.85 | 20.76 | 27.19 |
| 22Q4 (13) | 1.37 | -22.6 | -43.39 | 46.53 | -1.48 | -10.16 | 26.19 | -7.52 | -26.99 | 26.39 | -15.98 | -26.33 | 20.89 | -18.08 | -25.29 | 4.09 | -25.5 | -70.64 | 3.49 | -22.79 | -62.79 | 0.17 | -5.56 | -48.48 | 30.08 | -13.76 | -20.95 | 19.18 | 28.29 | -62.66 | 100.00 | 10.0 | 0.0 | 1.49 | -85.41 | 0 | 15.61 | -0.51 | 14.02 |
| 22Q3 (12) | 1.77 | -18.06 | -11.06 | 47.23 | -4.08 | -8.75 | 28.32 | -11.67 | -17.12 | 31.41 | -8.02 | -8.64 | 25.50 | -1.51 | -8.9 | 5.49 | -36.82 | -58.19 | 4.52 | -26.86 | -51.19 | 0.18 | -25.0 | -45.45 | 34.88 | -5.83 | -4.18 | 14.95 | -47.43 | -67.37 | 90.91 | -2.97 | -8.07 | 10.23 | 62.18 | 820.45 | 15.69 | 6.73 | 2.95 |
| 22Q2 (11) | 2.16 | -8.86 | 30.12 | 49.24 | -0.14 | -1.08 | 32.06 | -0.96 | -0.93 | 34.15 | 1.64 | 7.83 | 25.89 | -5.1 | 2.49 | 8.69 | -33.0 | -30.26 | 6.18 | -24.91 | -32.68 | 0.24 | -20.0 | -33.33 | 37.04 | 1.87 | 8.88 | 28.44 | -55.93 | -24.16 | 93.69 | -2.67 | -8.71 | 6.31 | 68.69 | 339.64 | 14.70 | -0.81 | -4.55 |
| 22Q1 (10) | 2.37 | -2.07 | 64.58 | 49.31 | -4.79 | 5.86 | 32.37 | -9.76 | 11.47 | 33.60 | -6.2 | 18.06 | 27.28 | -2.43 | 20.65 | 12.97 | -6.89 | 7.99 | 8.23 | -12.26 | -10.15 | 0.30 | -9.09 | -25.0 | 36.36 | -4.44 | 18.17 | 64.54 | 25.66 | 90.5 | 96.26 | -3.74 | -5.15 | 3.74 | 0 | 350.47 | 14.82 | 8.25 | -1.07 |
| 21Q4 (9) | 2.42 | 21.61 | 89.06 | 51.79 | 0.06 | 5.93 | 35.87 | 4.98 | 15.64 | 35.82 | 4.19 | 32.18 | 27.96 | -0.11 | 29.5 | 13.93 | 6.09 | 18.05 | 9.38 | 1.3 | 6.23 | 0.33 | 0.0 | -19.51 | 38.05 | 4.53 | 27.6 | 51.36 | 12.09 | 82.13 | 100.00 | 1.12 | -13.24 | 0.00 | -100.0 | 100.0 | 13.69 | -10.17 | 1.33 |
| 21Q3 (8) | 1.99 | 19.88 | 80.91 | 51.76 | 3.98 | 16.58 | 34.17 | 5.59 | 22.65 | 34.38 | 8.56 | 39.42 | 27.99 | 10.81 | 18.45 | 13.13 | 5.38 | 7.53 | 9.26 | 0.87 | 1.09 | 0.33 | -8.33 | -15.38 | 36.40 | 7.0 | 28.9 | 45.82 | 22.19 | 13.28 | 98.89 | -3.65 | -11.63 | 1.11 | 142.22 | 109.33 | 15.24 | -1.04 | 22.71 |
| 21Q2 (7) | 1.66 | 15.28 | 22.96 | 49.78 | 6.87 | 25.68 | 32.36 | 11.43 | 65.78 | 31.67 | 11.28 | 74.3 | 25.26 | 11.72 | 25.73 | 12.46 | 3.75 | -22.22 | 9.18 | 0.22 | -22.6 | 0.36 | -10.0 | -38.98 | 34.02 | 10.56 | 50.07 | 37.50 | 10.68 | -16.01 | 102.63 | 1.12 | -3.78 | -2.63 | -76.32 | 60.53 | 15.40 | 2.8 | 5.41 |
| 21Q1 (6) | 1.44 | 12.5 | 0 | 46.58 | -4.72 | 0 | 29.04 | -6.38 | 0 | 28.46 | 5.02 | 0 | 22.61 | 4.72 | 0 | 12.01 | 1.78 | 0 | 9.16 | 3.74 | 0 | 0.40 | -2.44 | 0 | 30.77 | 3.19 | 0 | 33.88 | 20.14 | 0 | 101.49 | -11.94 | 0 | -1.49 | 90.22 | 0 | 14.98 | 10.88 | 0 |
| 20Q4 (5) | 1.28 | 16.36 | 0 | 48.89 | 10.11 | 0 | 31.02 | 11.34 | 0 | 27.10 | 9.89 | 0 | 21.59 | -8.63 | 0 | 11.80 | -3.36 | 0 | 8.83 | -3.6 | 0 | 0.41 | 5.13 | 0 | 29.82 | 5.59 | 0 | 28.20 | -30.28 | 0 | 115.25 | 2.99 | 0 | -15.25 | -28.14 | 0 | 13.51 | 8.78 | 0 |
| 20Q3 (4) | 1.10 | -18.52 | 0.0 | 44.40 | 12.09 | 0.0 | 27.86 | 42.73 | 0.0 | 24.66 | 35.72 | 0.0 | 23.63 | 17.62 | 0.0 | 12.21 | -23.78 | 0.0 | 9.16 | -22.77 | 0.0 | 0.39 | -33.9 | 0.0 | 28.24 | 24.57 | 0.0 | 40.45 | -9.41 | 0.0 | 111.90 | 4.91 | 0.0 | -11.90 | -78.57 | 0.0 | 12.42 | -14.99 | 0.0 |
| 20Q2 (3) | 1.35 | 0 | 0.0 | 39.61 | 0 | 0.0 | 19.52 | 0 | 0.0 | 18.17 | 0 | 0.0 | 20.09 | 0 | 0.0 | 16.02 | 0 | 0.0 | 11.86 | 0 | 0.0 | 0.59 | 0 | 0.0 | 22.67 | 0 | 0.0 | 44.65 | 0 | 0.0 | 106.67 | 0 | 0.0 | -6.67 | 0 | 0.0 | 14.61 | 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) | 5.42 | -28.5 | 46.08 | -4.38 | 25.76 | -14.08 | 2.93 | 28.16 | 26.62 | -15.95 | 21.37 | -14.83 | 16.47 | -45.68 | 14.08 | -39.47 | 0.66 | -29.03 | 30.69 | -11.89 | 15.08 | -21.38 | 96.69 | 2.15 | 3.31 | -38.12 | 0.57 | -22.24 | 15.15 | -0.13 |
| 2022 (9) | 7.58 | 0.93 | 48.19 | -3.93 | 29.98 | -9.51 | 2.29 | 27.05 | 31.67 | -3.68 | 25.09 | -4.09 | 30.32 | -39.21 | 23.26 | -33.62 | 0.93 | -30.6 | 34.83 | -0.97 | 19.18 | -62.66 | 94.65 | -5.89 | 5.35 | 0 | 0.73 | 7.39 | 15.17 | 2.85 |
| 2021 (8) | 7.51 | 101.34 | 50.16 | 13.79 | 33.13 | 28.86 | 1.80 | -42.73 | 32.88 | 43.14 | 26.16 | 21.39 | 49.88 | 28.82 | 35.04 | 14.51 | 1.34 | -4.96 | 35.17 | 31.58 | 51.36 | 82.13 | 100.58 | -9.91 | -0.86 | 0 | 0.68 | -26.48 | 14.75 | 8.14 |
| 2020 (7) | 3.73 | 230.09 | 44.08 | 23.99 | 25.71 | 171.78 | 3.14 | -29.94 | 22.97 | 181.15 | 21.55 | 115.07 | 38.72 | 125.77 | 30.60 | 129.56 | 1.41 | 7.63 | 26.73 | 106.09 | 28.20 | 10.59 | 111.64 | -3.05 | -11.64 | 0 | 0.92 | 0 | 13.64 | -24.68 |
| 2019 (6) | 1.13 | 0 | 35.55 | 13.18 | 9.46 | 0 | 4.49 | -26.38 | 8.17 | 0 | 10.02 | 0 | 17.15 | 0 | 13.33 | 0 | 1.31 | 15.93 | 12.97 | 1501.23 | 25.50 | -31.84 | 115.15 | 24.01 | -15.15 | 0 | 0.00 | 0 | 18.11 | -29.23 |
| 2018 (5) | -0.35 | 0 | 31.41 | 10.4 | -5.30 | 0 | 6.10 | -30.31 | -5.83 | 0 | -4.36 | 0 | -6.75 | 0 | -4.72 | 0 | 1.13 | 39.51 | 0.81 | 0 | 37.41 | 5.56 | 92.86 | 20.46 | 7.14 | -68.83 | 0.00 | 0 | 25.59 | -32.43 |
| 2017 (4) | -1.71 | 0 | 28.45 | 0 | -22.82 | 0 | 8.75 | 0 | -29.79 | 0 | -29.79 | 0 | -30.62 | 0 | -24.16 | 0 | 0.81 | 0 | -20.62 | 0 | 35.44 | 75.97 | 77.08 | 0 | 22.92 | 0 | 0.00 | 0 | 37.87 | 0 |
| 2016 (3) | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 20.14 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 |
