- 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 | |||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 21Q4 (20) | 1.74 | 35.94 | -53.48 | 50.85 | 0.08 | -6.08 | 5.88 | -28.73 | -64.12 | 5.74 | -30.93 | -69.87 | 6.82 | 12.54 | -55.25 | 1.44 | 34.58 | -55.28 | 0.84 | 25.37 | -53.07 | 0.11 | 22.22 | 0.0 | 16.09 | -22.16 | -46.22 | 96.92 | -0.75 | 5.81 | 102.11 | 3.33 | 18.87 | -2.11 | -459.15 | -115.22 | 0.00 | 0 | 0 |
| 21Q3 (19) | 1.28 | -69.08 | -66.4 | 50.81 | 1.05 | -8.09 | 8.25 | -46.71 | -57.58 | 8.31 | -55.8 | -66.22 | 6.06 | -64.52 | -70.06 | 1.07 | -68.9 | -69.08 | 0.67 | -65.28 | -64.36 | 0.09 | -10.0 | 0.0 | 20.67 | -30.36 | -46.75 | 97.65 | 3.75 | 1.18 | 98.82 | 20.0 | 24.92 | 0.59 | -96.67 | -97.18 | 0.00 | -100.0 | 0 |
| 21Q2 (18) | 4.14 | 53.33 | 90.78 | 50.28 | -6.42 | -4.88 | 15.48 | -19.96 | 17.72 | 18.80 | 12.31 | 27.72 | 17.08 | 32.61 | 43.89 | 3.44 | 52.89 | 81.05 | 1.93 | 48.46 | 75.45 | 0.10 | 11.11 | 25.0 | 29.68 | 1.47 | -1.85 | 94.12 | 4.39 | -9.06 | 82.35 | -28.7 | -7.63 | 17.65 | 213.87 | 62.75 | 19.42 | 0 | -21.73 |
| 21Q1 (17) | 2.70 | -27.81 | 309.09 | 53.73 | -0.76 | -4.58 | 19.34 | 18.0 | 48.88 | 16.74 | -12.13 | 130.58 | 12.88 | -15.49 | 189.44 | 2.25 | -30.12 | 281.36 | 1.30 | -27.37 | 160.0 | 0.09 | -18.18 | 50.0 | 29.25 | -2.24 | 11.26 | 90.16 | -1.57 | -16.5 | 115.50 | 34.45 | -35.42 | -15.50 | -211.68 | 80.35 | 0.00 | 0 | -100.0 |
| 20Q4 (16) | 3.74 | -1.84 | -15.96 | 54.14 | -2.06 | 7.31 | 16.39 | -15.73 | -19.54 | 19.05 | -22.56 | -18.45 | 15.24 | -24.7 | -13.06 | 3.22 | -6.94 | -17.22 | 1.79 | -4.79 | -13.94 | 0.11 | 22.22 | 0.0 | 29.92 | -22.93 | -14.07 | 91.60 | -5.09 | -14.5 | 85.90 | 8.59 | -1.54 | 13.88 | -33.57 | 8.83 | 0.00 | 0 | -100.0 |
| 20Q3 (15) | 3.81 | 75.58 | 2.42 | 55.28 | 4.58 | -0.41 | 19.45 | 47.91 | -7.82 | 24.60 | 67.12 | 22.75 | 20.24 | 70.51 | 23.41 | 3.46 | 82.11 | 5.17 | 1.88 | 70.91 | 3.87 | 0.09 | 12.5 | -10.0 | 38.82 | 28.37 | 18.21 | 96.51 | -6.75 | -16.17 | 79.11 | -11.27 | -24.81 | 20.89 | 92.64 | 500.69 | 0.00 | -100.0 | -100.0 |
| 20Q2 (14) | 2.17 | 228.79 | -25.94 | 52.86 | -6.13 | -3.49 | 13.15 | 1.23 | -34.22 | 14.72 | 102.75 | -14.67 | 11.87 | 166.74 | -12.66 | 1.90 | 222.03 | -24.9 | 1.10 | 120.0 | -26.17 | 0.08 | 33.33 | -11.11 | 30.24 | 15.02 | -0.43 | 103.50 | -4.14 | -2.23 | 89.16 | -50.15 | -22.94 | 10.84 | 113.75 | 167.82 | 24.81 | -13.76 | 12.77 |
| 20Q1 (13) | 0.66 | -85.17 | -64.71 | 56.31 | 11.62 | -2.63 | 12.99 | -36.23 | -21.94 | 7.26 | -68.92 | -47.43 | 4.45 | -74.61 | -55.1 | 0.59 | -84.83 | -63.58 | 0.50 | -75.96 | -52.38 | 0.06 | -45.45 | -25.0 | 26.29 | -24.5 | -7.53 | 107.97 | 0.77 | 9.85 | 178.85 | 104.98 | 47.9 | -78.85 | -718.38 | -284.58 | 28.77 | 39.73 | 16.76 |
| 19Q4 (12) | 4.45 | 19.62 | 64.81 | 50.45 | -9.12 | -3.85 | 20.37 | -3.46 | -2.16 | 23.36 | 16.57 | 24.52 | 17.53 | 6.89 | 41.49 | 3.89 | 18.24 | 63.45 | 2.08 | 14.92 | 46.48 | 0.11 | 10.0 | 10.0 | 34.82 | 6.03 | 16.34 | 107.14 | -6.93 | 13.66 | 87.25 | -17.07 | -21.3 | 12.75 | 344.58 | 217.3 | 20.59 | -3.24 | -6.11 |
| 19Q3 (11) | 3.72 | 26.96 | 85.07 | 55.51 | 1.35 | 5.01 | 21.10 | 5.55 | 18.67 | 20.04 | 16.17 | 22.05 | 16.40 | 20.68 | 75.97 | 3.29 | 30.04 | 81.77 | 1.81 | 21.48 | 64.55 | 0.10 | 11.11 | 0.0 | 32.84 | 8.13 | 23.69 | 115.12 | 8.75 | 15.86 | 105.21 | -9.06 | -2.88 | -5.21 | 67.39 | 37.44 | 21.28 | -3.27 | 6.4 |
| 19Q2 (10) | 2.93 | 56.68 | 97.97 | 54.77 | -5.29 | 2.51 | 19.99 | 20.13 | -3.57 | 17.25 | 24.91 | 44.47 | 13.59 | 37.13 | 82.91 | 2.53 | 56.17 | 97.66 | 1.49 | 41.9 | 81.71 | 0.09 | 12.5 | 0.0 | 30.37 | 6.82 | 39.63 | 105.86 | 7.7 | 10.5 | 115.70 | -4.32 | -33.4 | -15.99 | 22.02 | 78.32 | 22.00 | -10.71 | 6.74 |
| 19Q1 (9) | 1.87 | -30.74 | -33.69 | 57.83 | 10.22 | 9.11 | 16.64 | -20.08 | -6.15 | 13.81 | -26.39 | -30.11 | 9.91 | -20.02 | -37.36 | 1.62 | -31.93 | -33.88 | 1.05 | -26.06 | -31.82 | 0.08 | -20.0 | 0.0 | 28.43 | -5.01 | -9.46 | 98.29 | 4.28 | 21.41 | 120.92 | 9.07 | 34.68 | -20.50 | -88.62 | -300.67 | 24.64 | 12.36 | 15.3 |
| 18Q4 (8) | 2.70 | 34.33 | 0 | 52.47 | -0.74 | 0 | 20.82 | 17.1 | 0 | 18.76 | 14.25 | 0 | 12.39 | 32.94 | 0 | 2.38 | 31.49 | 0 | 1.42 | 29.09 | 0 | 0.10 | 0.0 | 0 | 29.93 | 12.73 | 0 | 94.26 | -5.13 | 0 | 110.87 | 2.34 | 0 | -10.87 | -30.43 | 0 | 21.93 | 9.65 | 0 |
| 18Q3 (7) | 2.01 | 35.81 | 0 | 52.86 | -1.07 | 0 | 17.78 | -14.23 | 0 | 16.42 | 37.52 | 0 | 9.32 | 25.44 | 0 | 1.81 | 41.41 | 0 | 1.10 | 34.15 | 0 | 0.10 | 11.11 | 0 | 26.55 | 22.07 | 0 | 99.36 | 3.72 | 0 | 108.33 | -37.64 | 0 | -8.33 | 88.7 | 0 | 20.00 | -2.96 | 0 |
| 18Q2 (6) | 1.48 | -47.52 | 0 | 53.43 | 0.81 | 0 | 20.73 | 16.92 | 0 | 11.94 | -39.57 | 0 | 7.43 | -53.03 | 0 | 1.28 | -47.76 | 0 | 0.82 | -46.75 | 0 | 0.09 | 12.5 | 0 | 21.75 | -30.73 | 0 | 95.80 | 18.33 | 0 | 173.73 | 93.5 | 0 | -73.73 | -821.69 | 0 | 20.61 | -3.56 | 0 |
| 18Q1 (5) | 2.82 | 0 | 0 | 53.00 | 0 | 0 | 17.73 | 0 | 0 | 19.76 | 0 | 0 | 15.82 | 0 | 0 | 2.45 | 0 | 0 | 1.54 | 0 | 0 | 0.08 | 0 | 0 | 31.40 | 0 | 0 | 80.96 | 0 | 0 | 89.78 | 0 | 0 | 10.22 | 0 | 0 | 21.37 | 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 | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2021 (10) | 9.85 | -3.81 | 51.35 | -5.87 | 12.05 | -23.44 | 9.81 | -16.79 | 12.30 | -28.24 | 10.75 | -21.01 | 8.16 | -8.72 | 4.69 | -8.93 | 0.39 | 18.18 | 23.75 | -24.6 | 96.92 | 5.81 | 97.90 | 6.55 | 2.10 | -74.14 | 0.28 | 62.41 | 0.00 | 0 |
| 2020 (9) | 10.24 | -21.11 | 54.55 | 0.33 | 15.74 | -19.98 | 11.79 | 21.9 | 17.14 | -9.74 | 13.61 | -7.23 | 8.94 | -21.3 | 5.15 | -22.09 | 0.33 | -15.38 | 31.50 | -1.13 | 91.60 | -14.5 | 91.88 | -11.26 | 8.12 | 0 | 0.17 | -11.38 | 0.00 | 0 |
| 2019 (8) | 12.98 | 44.06 | 54.37 | 2.72 | 19.67 | 1.92 | 9.67 | 19.88 | 18.99 | 13.85 | 14.67 | 32.04 | 11.36 | 42.89 | 6.61 | 33.81 | 0.39 | 2.63 | 31.86 | 16.53 | 107.14 | 13.66 | 103.54 | -10.55 | -3.60 | 0 | 0.19 | -24.99 | 21.97 | 4.77 |
| 2018 (7) | 9.01 | -14.19 | 52.93 | -2.36 | 19.30 | 0.47 | 8.07 | -7.54 | 16.68 | -14.29 | 11.11 | -31.08 | 7.95 | -15.52 | 4.94 | -17.39 | 0.38 | 15.15 | 27.34 | -11.89 | 94.26 | 11.41 | 115.75 | 17.16 | -15.75 | 0 | 0.26 | 0 | 20.97 | -2.47 |
| 2017 (6) | 10.50 | -36.01 | 54.21 | -9.44 | 19.21 | -37.55 | 8.72 | 11.86 | 19.46 | -30.62 | 16.12 | -30.25 | 9.41 | -37.43 | 5.98 | -37.64 | 0.33 | -15.38 | 31.03 | -17.78 | 84.61 | 19.39 | 98.79 | -9.95 | 1.30 | 0 | 0.00 | 0 | 21.50 | 21.33 |
| 2016 (5) | 16.41 | -3.19 | 59.86 | -0.89 | 30.76 | -5.67 | 7.80 | 8.36 | 28.05 | -7.97 | 23.11 | -10.04 | 15.04 | -7.79 | 9.59 | -11.2 | 0.39 | -2.5 | 37.74 | -4.41 | 70.87 | 18.87 | 109.71 | 2.54 | -9.65 | 0 | 0.00 | 0 | 17.72 | -1.39 |
| 2015 (4) | 16.95 | 8.38 | 60.40 | 0.55 | 32.61 | 5.67 | 7.20 | 15.95 | 30.48 | 1.84 | 25.69 | 2.68 | 16.31 | -2.39 | 10.80 | -7.14 | 0.40 | -9.09 | 39.48 | 4.06 | 59.62 | 5.11 | 106.99 | 3.81 | -6.99 | 0 | 0.00 | 0 | 17.97 | 22.08 |
| 2014 (3) | 15.64 | -0.19 | 60.07 | -1.94 | 30.86 | 0.29 | 6.21 | 25.68 | 29.93 | -8.5 | 25.02 | -14.05 | 16.71 | -17.68 | 11.63 | -25.11 | 0.44 | -15.38 | 37.94 | -2.42 | 56.72 | 29.32 | 103.06 | 9.58 | -3.12 | 0 | 0.00 | 0 | 14.72 | 11.85 |
| 2013 (2) | 15.67 | 29.61 | 61.26 | -4.21 | 30.77 | -6.02 | 4.94 | 12.57 | 32.71 | -0.37 | 29.11 | 5.36 | 20.30 | -11.93 | 15.53 | -11.66 | 0.52 | -16.13 | 38.88 | 1.43 | 43.86 | 110.56 | 94.05 | -5.65 | 5.95 | 2380.16 | 0.00 | 0 | 13.16 | 7.25 |
| 2012 (1) | 12.09 | 0 | 63.95 | 0 | 32.74 | 0 | 4.39 | 0 | 32.83 | 0 | 27.63 | 0 | 23.05 | 0 | 17.58 | 0 | 0.62 | 0 | 38.33 | 0 | 20.83 | 0 | 99.68 | 0 | 0.24 | 0 | 0.00 | 0 | 12.27 | 0 |
