- 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) | 0.11 | -82.54 | -81.67 | 38.39 | 9.78 | 26.37 | 7.27 | -36.23 | 10.82 | 4.01 | -76.41 | -75.59 | 3.21 | -79.57 | -75.61 | 0.57 | -82.3 | -82.19 | 0.46 | -81.96 | -80.75 | 0.14 | -12.5 | -22.22 | 5.79 | -69.77 | -68.15 | 20.42 | -41.87 | -31.29 | 180.00 | 170.0 | 350.0 | -80.00 | -340.0 | -233.33 | 17.92 | 6.86 | 23.16 |
| 24Q2 (19) | 0.63 | 46.51 | -12.5 | 34.97 | 5.2 | 1.27 | 11.40 | 1063.27 | 12.76 | 17.00 | 16.2 | 20.4 | 15.71 | 33.47 | 22.93 | 3.22 | 49.07 | -19.9 | 2.55 | 37.1 | -10.84 | 0.16 | 0.0 | -23.81 | 19.15 | 14.88 | 16.91 | 35.13 | 89.07 | -17.92 | 66.67 | 1166.67 | -7.41 | 33.33 | -62.75 | 19.05 | 16.77 | -9.74 | 31.43 |
| 24Q1 (18) | 0.43 | 1333.33 | 4200.0 | 33.24 | -3.82 | -6.68 | 0.98 | -91.78 | 2.08 | 14.63 | 1218.02 | 2609.26 | 11.77 | 1138.95 | 5250.0 | 2.16 | 1250.0 | 5300.0 | 1.86 | 1140.0 | 644.0 | 0.16 | 14.29 | 33.33 | 16.67 | 374.93 | 223.69 | 18.58 | 20.65 | -63.24 | 5.26 | -99.62 | -94.74 | 89.47 | 107.46 | 0 | 18.58 | 2.94 | -2.98 |
| 23Q4 (17) | 0.03 | -95.0 | 142.86 | 34.56 | 13.76 | 28.24 | 11.92 | 81.71 | 198.75 | 1.11 | -93.24 | 183.46 | 0.95 | -92.78 | 164.63 | 0.16 | -95.0 | 135.56 | 0.15 | -93.72 | 400.0 | 0.14 | -22.22 | -6.67 | 3.51 | -80.69 | 11.43 | 15.40 | -48.18 | -83.81 | 1400.00 | 3400.0 | 660.0 | -1200.00 | -2100.0 | -442.86 | 18.05 | 24.05 | 74.56 |
| 23Q3 (16) | 0.60 | -16.67 | -42.31 | 30.38 | -12.02 | -6.29 | 6.56 | -35.11 | -45.29 | 16.43 | 16.36 | -18.05 | 13.16 | 2.97 | -16.5 | 3.20 | -20.4 | -52.52 | 2.39 | -16.43 | -29.5 | 0.18 | -14.29 | -10.0 | 18.18 | 10.99 | -21.84 | 29.72 | -30.56 | -72.79 | 40.00 | -44.44 | -35.24 | 60.00 | 114.29 | 45.71 | 14.55 | 14.03 | 12.27 |
| 23Q2 (15) | 0.72 | 7100.0 | -34.55 | 34.53 | -3.06 | 16.3 | 10.11 | 953.12 | -24.04 | 14.12 | 2514.81 | -5.87 | 12.78 | 5709.09 | -3.33 | 4.02 | 9950.0 | -43.46 | 2.86 | 1044.0 | -20.33 | 0.21 | 75.0 | -16.0 | 16.38 | 218.06 | -6.29 | 42.80 | -15.31 | -64.43 | 72.00 | -28.0 | -17.33 | 28.00 | 0 | 189.33 | 12.76 | -33.37 | 18.92 |
| 23Q1 (14) | 0.01 | 114.29 | -94.44 | 35.62 | 32.17 | 40.79 | 0.96 | -75.94 | 0 | 0.54 | 140.6 | -85.9 | 0.22 | 114.97 | -92.44 | 0.04 | 108.89 | -96.67 | 0.25 | 733.33 | -70.24 | 0.12 | -20.0 | -36.84 | 5.15 | 63.49 | -29.74 | 50.54 | -46.87 | -53.13 | 100.00 | 140.0 | 0 | 0.00 | -100.0 | -100.0 | 19.15 | 85.2 | 4.99 |
| 22Q4 (13) | -0.07 | -106.73 | -117.5 | 26.95 | -16.87 | -4.57 | 3.99 | -66.72 | -63.23 | -1.33 | -106.63 | -117.32 | -1.47 | -109.33 | -125.83 | -0.45 | -106.68 | -115.73 | 0.03 | -99.12 | -98.33 | 0.15 | -25.0 | -46.43 | 3.15 | -86.46 | -68.87 | 95.13 | -12.92 | -18.88 | -250.00 | -504.76 | -280.56 | 350.00 | 750.0 | 1010.0 | 10.34 | -20.22 | 4.55 |
| 22Q3 (12) | 1.04 | -5.45 | 108.0 | 32.42 | 9.2 | -11.23 | 11.99 | -9.92 | 2.83 | 20.05 | 33.67 | 70.35 | 15.76 | 19.21 | 67.48 | 6.74 | -5.2 | 76.44 | 3.39 | -5.57 | 31.4 | 0.20 | -20.0 | -25.93 | 23.26 | 33.07 | 65.43 | 109.24 | -9.2 | 142.16 | 61.76 | -29.08 | -38.24 | 41.18 | 325.49 | 0 | 12.96 | 20.78 | -25.47 |
| 22Q2 (11) | 1.10 | 511.11 | 111.54 | 29.69 | 17.35 | -14.63 | 13.31 | 0 | 18.1 | 15.00 | 291.64 | 69.11 | 13.22 | 354.3 | 57.01 | 7.11 | 492.5 | 84.2 | 3.59 | 327.38 | 34.96 | 0.25 | 31.58 | -19.35 | 17.48 | 138.47 | 56.21 | 120.31 | 11.56 | 126.32 | 87.10 | 0 | -29.23 | 9.68 | -90.32 | 141.94 | 10.73 | -41.17 | -22.81 |
| 22Q1 (10) | 0.18 | -55.0 | 0.0 | 25.30 | -10.41 | -23.05 | 0.00 | -100.0 | -100.0 | 3.83 | -50.13 | -15.45 | 2.91 | -48.86 | -19.83 | 1.20 | -58.04 | -6.98 | 0.84 | -53.33 | -14.29 | 0.19 | -32.14 | -26.92 | 7.33 | -27.57 | 1.66 | 107.84 | -8.04 | 167.53 | 0.00 | -100.0 | -100.0 | 100.00 | 360.0 | 600.0 | 18.24 | 84.43 | 5.13 |
| 21Q4 (9) | 0.40 | -20.0 | 25.0 | 28.24 | -22.67 | -21.45 | 10.85 | -6.95 | -4.24 | 7.68 | -34.75 | -12.83 | 5.69 | -39.53 | -17.42 | 2.86 | -25.13 | 16.73 | 1.80 | -30.23 | -5.26 | 0.28 | 3.7 | 3.7 | 10.12 | -28.02 | -15.17 | 117.27 | 159.96 | 298.07 | 138.46 | 38.46 | 15.38 | -38.46 | 0 | -28.21 | 9.89 | -43.13 | -31.13 |
| 21Q3 (8) | 0.50 | -3.85 | -7.41 | 36.52 | 5.0 | 5.18 | 11.66 | 3.46 | -12.53 | 11.77 | 32.69 | -3.21 | 9.41 | 11.76 | -3.29 | 3.82 | -1.04 | -8.39 | 2.58 | -3.01 | -18.1 | 0.27 | -12.9 | -15.62 | 14.06 | 25.65 | -4.55 | 45.11 | -15.14 | 46.75 | 100.00 | -18.75 | -5.88 | 0.00 | 100.0 | 100.0 | 17.39 | 25.11 | 25.2 |
| 21Q2 (7) | 0.52 | 188.89 | 225.0 | 34.78 | 5.78 | 10.27 | 11.27 | 114.67 | 531.8 | 8.87 | 95.81 | 658.12 | 8.42 | 131.96 | 77.64 | 3.86 | 199.22 | 244.64 | 2.66 | 171.43 | 212.94 | 0.31 | 19.23 | 72.22 | 11.19 | 55.2 | 106.84 | 53.16 | 31.88 | 46.08 | 123.08 | 2.56 | 161.54 | -23.08 | -15.38 | -107.69 | 13.90 | -19.88 | 0 |
| 21Q1 (6) | 0.18 | -43.75 | 500.0 | 32.88 | -8.54 | 7.24 | 5.25 | -53.66 | 556.25 | 4.53 | -48.58 | 362.24 | 3.63 | -47.31 | 365.38 | 1.29 | -47.35 | 437.5 | 0.98 | -48.42 | 415.79 | 0.26 | -3.7 | 8.33 | 7.21 | -39.56 | 78.47 | 40.31 | 36.83 | 26.48 | 120.00 | 0.0 | 20.0 | -20.00 | 33.33 | 0 | 17.35 | 20.82 | -1.76 |
| 20Q4 (5) | 0.32 | -40.74 | 203.23 | 35.95 | 3.54 | 4.02 | 11.33 | -15.0 | 223.71 | 8.81 | -27.55 | 198.22 | 6.89 | -29.19 | 195.96 | 2.45 | -41.25 | 216.11 | 1.90 | -39.68 | 220.25 | 0.27 | -15.62 | 22.73 | 11.93 | -19.01 | 328.98 | 29.46 | -4.16 | 16.95 | 120.00 | 12.94 | 460.0 | -30.00 | -140.0 | -122.5 | 14.36 | 3.38 | -0.42 |
| 20Q3 (4) | 0.54 | 237.5 | 0.0 | 34.72 | 10.08 | 0.0 | 13.33 | 610.73 | 0.0 | 12.16 | 939.32 | 0.0 | 9.73 | 105.27 | 0.0 | 4.17 | 272.32 | 0.0 | 3.15 | 270.59 | 0.0 | 0.32 | 77.78 | 0.0 | 14.73 | 172.27 | 0.0 | 30.74 | -15.53 | 0.0 | 106.25 | 153.12 | 0.0 | -12.50 | -104.17 | 0.0 | 13.89 | 0 | 0.0 |
| 20Q2 (3) | 0.16 | 433.33 | 0.0 | 31.54 | 2.87 | 0.0 | -2.61 | -426.25 | 0.0 | 1.17 | 19.39 | 0.0 | 4.74 | 507.69 | 0.0 | 1.12 | 366.67 | 0.0 | 0.85 | 347.37 | 0.0 | 0.18 | -25.0 | 0.0 | 5.41 | 33.91 | 0.0 | 36.39 | 14.18 | 0.0 | -200.00 | -300.0 | 0.0 | 300.00 | 0 | 0.0 | 0.00 | -100.0 | 0.0 |
| 20Q1 (2) | 0.03 | 109.68 | 0.0 | 30.66 | -11.28 | 0.0 | 0.80 | -77.14 | 0.0 | 0.98 | 110.93 | 0.0 | 0.78 | 110.86 | 0.0 | 0.24 | 111.37 | 0.0 | 0.19 | 112.03 | 0.0 | 0.24 | 9.09 | 0.0 | 4.04 | 177.54 | 0.0 | 31.87 | 26.52 | 0.0 | 100.00 | 400.0 | 0.0 | 0.00 | -100.0 | 0.0 | 17.66 | 22.47 | 0.0 |
| 19Q4 (1) | -0.31 | 0.0 | 0.0 | 34.56 | 0.0 | 0.0 | 3.50 | 0.0 | 0.0 | -8.97 | 0.0 | 0.0 | -7.18 | 0.0 | 0.0 | -2.11 | 0.0 | 0.0 | -1.58 | 0.0 | 0.0 | 0.22 | 0.0 | 0.0 | -5.21 | 0.0 | 0.0 | 25.19 | 0.0 | 0.0 | -33.33 | 0.0 | 0.0 | 133.33 | 0.0 | 0.0 | 14.42 | 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) | 1.38 | -36.7 | 33.55 | 16.21 | 7.85 | -3.21 | 1.66 | 8.6 | 9.62 | -9.33 | 8.16 | -5.99 | 8.18 | -45.61 | 6.04 | -28.27 | 0.69 | -17.86 | 12.36 | -11.14 | 15.40 | -83.81 | 82.69 | 7.66 | 19.23 | -17.07 | 0.26 | 2.19 | 15.52 | 19.75 |
| 2022 (9) | 2.18 | 39.74 | 28.87 | -11.98 | 8.11 | -18.98 | 1.53 | -15.75 | 10.61 | 27.83 | 8.68 | 26.72 | 15.04 | 31.12 | 8.42 | 23.46 | 0.84 | -11.58 | 13.91 | 29.88 | 95.13 | -18.88 | 76.81 | -35.76 | 23.19 | 0 | 0.25 | 89.94 | 12.96 | -8.67 |
| 2021 (8) | 1.56 | 48.57 | 32.80 | -2.09 | 10.01 | 44.65 | 1.81 | -25.41 | 8.30 | 25.76 | 6.85 | 15.71 | 11.47 | 49.35 | 6.82 | 11.8 | 0.95 | -6.86 | 10.71 | 10.07 | 117.27 | 298.07 | 119.57 | 15.3 | -19.57 | 0 | 0.13 | -73.44 | 14.19 | -14.62 |
| 2020 (7) | 1.05 | -1.87 | 33.50 | 6.89 | 6.92 | 4.37 | 2.43 | 28.51 | 6.60 | 41.03 | 5.92 | 45.1 | 7.68 | 5.79 | 6.10 | 5.72 | 1.02 | -27.14 | 9.73 | 37.82 | 29.46 | 16.95 | 103.70 | -28.21 | -3.70 | 0 | 0.50 | -49.38 | 16.62 | 39.2 |
| 2019 (6) | 1.07 | -25.17 | 31.34 | -0.25 | 6.63 | -2.36 | 1.89 | 140.45 | 4.68 | -39.3 | 4.08 | -34.93 | 7.26 | -27.98 | 5.77 | -28.77 | 1.40 | 8.53 | 7.06 | -20.32 | 25.19 | -12.14 | 144.44 | 65.69 | -40.74 | 0 | 0.99 | -16.85 | 11.94 | -14.35 |
| 2018 (5) | 1.43 | 85.71 | 31.42 | 2.18 | 6.79 | 23.91 | 0.79 | 34.65 | 7.71 | 106.15 | 6.27 | 100.32 | 10.08 | 96.11 | 8.10 | 95.65 | 1.29 | -2.27 | 8.86 | 89.32 | 28.67 | 44.36 | 87.18 | -40.84 | 12.82 | 0 | 1.18 | 0 | 13.94 | 4.58 |
| 2017 (4) | 0.77 | -62.44 | 30.75 | -25.02 | 5.48 | -51.93 | 0.58 | -20.27 | 3.74 | -66.79 | 3.13 | -66.63 | 5.14 | -55.8 | 4.14 | -55.29 | 1.32 | 33.33 | 4.68 | -61.7 | 19.86 | -28.69 | 147.37 | 44.23 | -47.37 | 0 | 0.00 | 0 | 13.33 | -18.72 |
| 2016 (3) | 2.05 | -3.3 | 41.01 | -11.79 | 11.40 | -9.81 | 0.73 | -44.8 | 11.26 | -22.61 | 9.38 | -22.29 | 11.63 | -15.72 | 9.26 | -13.38 | 0.99 | 11.24 | 12.22 | -23.39 | 27.85 | 17.91 | 102.17 | 18.31 | -2.17 | 0 | 0.00 | 0 | 16.40 | -15.77 |
| 2015 (2) | 2.12 | 4.95 | 46.49 | -0.87 | 12.64 | 14.7 | 1.33 | 6.31 | 14.55 | 13.32 | 12.07 | 12.8 | 13.80 | -14.55 | 10.69 | -6.47 | 0.89 | -16.82 | 15.95 | 9.4 | 23.62 | -39.61 | 86.36 | 2.97 | 13.64 | 5.68 | 0.00 | 0 | 19.47 | -5.85 |
| 2014 (1) | 2.02 | 36.49 | 46.90 | 0 | 11.02 | 0 | 1.25 | -31.25 | 12.84 | 0 | 10.70 | 0 | 16.15 | 0 | 11.43 | 0 | 1.07 | -10.83 | 14.58 | 118.59 | 39.11 | -12.43 | 83.87 | -2.15 | 12.90 | -9.68 | 0.00 | 0 | 20.68 | -11.89 |
