- 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) | 0.64 | -16.88 | 68.42 | 14.26 | -6.18 | 8.36 | 6.91 | -9.08 | 74.06 | 6.52 | -20.87 | 25.38 | 4.83 | -17.44 | 38.0 | 2.52 | -18.18 | 59.49 | 1.60 | -17.1 | 56.86 | 0.31 | 0.0 | 14.81 | 9.09 | -15.68 | 7.57 | 61.04 | -17.6 | -10.21 | 106.67 | 15.81 | 38.67 | -6.67 | -184.44 | -128.89 | 7.40 | -8.75 | -21.44 |
| 24Q2 (19) | 0.77 | 113.89 | 175.0 | 15.20 | 15.5 | 34.04 | 7.60 | 96.38 | 176.36 | 8.24 | 56.36 | 126.37 | 5.85 | 62.05 | 137.8 | 3.08 | 112.41 | 167.83 | 1.93 | 98.97 | 150.65 | 0.31 | 24.0 | 14.81 | 10.78 | 25.2 | 60.42 | 74.08 | 21.09 | 0.61 | 92.11 | 26.22 | 21.41 | 7.89 | -70.79 | -67.29 | 8.11 | -18.49 | -7.1 |
| 24Q1 (18) | 0.36 | -12.2 | 71.43 | 13.16 | -11.8 | 18.24 | 3.87 | -40.92 | 60.58 | 5.27 | 0.19 | 115.98 | 3.61 | -3.99 | 85.13 | 1.45 | -14.2 | 70.59 | 0.97 | -11.82 | 64.41 | 0.25 | -7.41 | -3.85 | 8.61 | 2.87 | 49.74 | 61.18 | -8.37 | -11.7 | 72.97 | -41.62 | -27.03 | 27.03 | 208.11 | 0 | 9.95 | 13.45 | 8.03 |
| 23Q4 (17) | 0.41 | 7.89 | 583.33 | 14.92 | 13.37 | 60.09 | 6.55 | 64.99 | 385.19 | 5.26 | 1.15 | 447.92 | 3.76 | 7.43 | 609.43 | 1.69 | 6.96 | 604.17 | 1.10 | 7.84 | 378.26 | 0.27 | 0.0 | 3.85 | 8.37 | -0.95 | 96.94 | 66.77 | -1.78 | -7.73 | 125.00 | 62.5 | -12.5 | -25.00 | -208.33 | 41.67 | 8.77 | -6.9 | 4.78 |
| 23Q3 (16) | 0.38 | 35.71 | 153.33 | 13.16 | 16.05 | 57.04 | 3.97 | 44.36 | 390.12 | 5.20 | 42.86 | 73.91 | 3.50 | 42.28 | 177.78 | 1.58 | 37.39 | 146.88 | 1.02 | 32.47 | 131.82 | 0.27 | 0.0 | -3.57 | 8.45 | 25.74 | 39.9 | 67.98 | -7.67 | -8.59 | 76.92 | 1.4 | 185.71 | 23.08 | -4.4 | -68.42 | 9.42 | 7.9 | 19.85 |
| 23Q2 (15) | 0.28 | 33.33 | -54.1 | 11.34 | 1.89 | 13.74 | 2.75 | 14.11 | -33.09 | 3.64 | 49.18 | -32.09 | 2.46 | 26.15 | -40.72 | 1.15 | 35.29 | -53.44 | 0.77 | 30.51 | -46.15 | 0.27 | 3.85 | -18.18 | 6.72 | 16.87 | -15.15 | 73.63 | 6.26 | -14.07 | 75.86 | -24.14 | -1.2 | 24.14 | 0 | 3.98 | 8.73 | -5.21 | 33.49 |
| 23Q1 (14) | 0.21 | 250.0 | -68.18 | 11.13 | 19.42 | 2.58 | 2.41 | 78.52 | -30.55 | 2.44 | 154.17 | -52.44 | 1.95 | 267.92 | -51.25 | 0.85 | 254.17 | -68.05 | 0.59 | 156.52 | -61.69 | 0.26 | 0.0 | -29.73 | 5.75 | 35.29 | -28.3 | 69.29 | -4.24 | -12.06 | 100.00 | -30.0 | 50.0 | 0.00 | 100.0 | -100.0 | 9.21 | 10.04 | 27.92 |
| 22Q4 (13) | 0.06 | -60.0 | -92.59 | 9.32 | 11.22 | -4.41 | 1.35 | 66.67 | -67.86 | 0.96 | -67.89 | -79.7 | 0.53 | -57.94 | -88.04 | 0.24 | -62.5 | -93.63 | 0.23 | -47.73 | -88.89 | 0.26 | -7.14 | -42.22 | 4.25 | -29.64 | -43.03 | 72.36 | -2.7 | -14.61 | 142.86 | 430.61 | 60.71 | -42.86 | -158.65 | -485.71 | 8.37 | 6.49 | 39.5 |
| 22Q3 (12) | 0.15 | -75.41 | -84.21 | 8.38 | -15.95 | -35.74 | 0.81 | -80.29 | -84.24 | 2.99 | -44.22 | -50.58 | 1.26 | -69.64 | -76.97 | 0.64 | -74.09 | -85.84 | 0.44 | -69.23 | -81.89 | 0.28 | -15.15 | -34.88 | 6.04 | -23.74 | -30.57 | 74.37 | -13.21 | -17.92 | 26.92 | -64.94 | -68.75 | 73.08 | 214.79 | 375.0 | 7.86 | 20.18 | 12.77 |
| 22Q2 (11) | 0.61 | -7.58 | -41.35 | 9.97 | -8.11 | -35.09 | 4.11 | 18.44 | -49.2 | 5.36 | 4.48 | -32.83 | 4.15 | 3.75 | -32.74 | 2.47 | -7.14 | -51.85 | 1.43 | -7.14 | -47.04 | 0.33 | -10.81 | -21.43 | 7.92 | -1.25 | -29.35 | 85.69 | 8.76 | -7.9 | 76.79 | 15.18 | -24.11 | 23.21 | -26.26 | 2073.21 | 6.54 | -9.17 | -10.04 |
| 22Q1 (10) | 0.66 | -18.52 | -9.59 | 10.85 | 11.28 | -29.18 | 3.47 | -17.38 | -46.28 | 5.13 | 8.46 | -24.78 | 4.00 | -9.71 | -19.19 | 2.66 | -29.44 | -28.69 | 1.54 | -25.6 | -20.62 | 0.37 | -17.78 | -2.63 | 8.02 | 7.51 | -20.52 | 78.79 | -7.02 | -20.24 | 66.67 | -25.0 | -30.0 | 31.48 | 183.33 | 561.11 | 7.20 | 20.0 | -16.28 |
| 21Q4 (9) | 0.81 | -14.74 | 80.0 | 9.75 | -25.23 | -23.71 | 4.20 | -18.29 | -17.0 | 4.73 | -21.82 | -0.42 | 4.43 | -19.01 | 23.74 | 3.77 | -16.59 | 57.74 | 2.07 | -14.81 | 62.99 | 0.45 | 4.65 | 36.36 | 7.46 | -14.25 | -14.74 | 84.74 | -6.48 | -17.1 | 88.89 | 3.17 | -17.78 | 11.11 | -27.78 | 305.56 | 6.00 | -13.92 | -21.26 |
| 21Q3 (8) | 0.95 | -8.65 | 187.88 | 13.04 | -15.1 | -8.68 | 5.14 | -36.46 | -8.05 | 6.05 | -24.19 | 3.42 | 5.47 | -11.35 | 89.93 | 4.52 | -11.89 | 151.11 | 2.43 | -10.0 | 147.96 | 0.43 | 2.38 | 43.33 | 8.70 | -22.39 | -12.65 | 90.61 | -2.61 | -15.46 | 86.15 | -14.85 | -9.54 | 15.38 | 1407.69 | 223.08 | 6.97 | -4.13 | -28.0 |
| 21Q2 (7) | 1.04 | 42.47 | 205.88 | 15.36 | 0.26 | 30.39 | 8.09 | 25.23 | 276.28 | 7.98 | 17.01 | 228.4 | 6.17 | 24.65 | 298.06 | 5.13 | 37.53 | 180.33 | 2.70 | 39.18 | 141.07 | 0.42 | 10.53 | -26.32 | 11.21 | 11.1 | 63.17 | 93.04 | -5.82 | -13.06 | 101.18 | 6.24 | 15.13 | -1.18 | -124.71 | -109.71 | 7.27 | -15.47 | -20.89 |
| 21Q1 (6) | 0.73 | 62.22 | 0 | 15.32 | 19.87 | 0 | 6.46 | 27.67 | 0 | 6.82 | 43.58 | 0 | 4.95 | 38.27 | 0 | 3.73 | 56.07 | 0 | 1.94 | 52.76 | 0 | 0.38 | 15.15 | 0 | 10.09 | 15.31 | 0 | 98.79 | -3.36 | 0 | 95.24 | -11.9 | 0 | 4.76 | 188.1 | 0 | 8.60 | 12.86 | 0 |
| 20Q4 (5) | 0.45 | 36.36 | 0 | 12.78 | -10.5 | 0 | 5.06 | -9.48 | 0 | 4.75 | -18.8 | 0 | 3.58 | 24.31 | 0 | 2.39 | 32.78 | 0 | 1.27 | 29.59 | 0 | 0.33 | 10.0 | 0 | 8.75 | -12.15 | 0 | 102.22 | -4.63 | 0 | 108.11 | 13.51 | 0 | -5.41 | -213.51 | 0 | 7.62 | -21.28 | 0 |
| 20Q3 (4) | 0.33 | -2.94 | 0.0 | 14.28 | 21.22 | 0.0 | 5.59 | 160.0 | 0.0 | 5.85 | 140.74 | 0.0 | 2.88 | 85.81 | 0.0 | 1.80 | -1.64 | 0.0 | 0.98 | -12.5 | 0.0 | 0.30 | -47.37 | 0.0 | 9.96 | 44.98 | 0.0 | 107.18 | 0.15 | 0.0 | 95.24 | 8.37 | 0.0 | 4.76 | -60.71 | 0.0 | 9.68 | 5.33 | 0.0 |
| 20Q2 (3) | 0.34 | 0 | 0.0 | 11.78 | 0 | 0.0 | 2.15 | 0 | 0.0 | 2.43 | 0 | 0.0 | 1.55 | 0 | 0.0 | 1.83 | 0 | 0.0 | 1.12 | 0 | 0.0 | 0.57 | 0 | 0.0 | 6.87 | 0 | 0.0 | 107.02 | 0 | 0.0 | 87.88 | 0 | 0.0 | 12.12 | 0 | 0.0 | 9.19 | 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) | 1.28 | -12.33 | 12.63 | 30.07 | 3.92 | 51.35 | 2.75 | 6.44 | 4.14 | 8.09 | 2.92 | 8.96 | 5.23 | -19.54 | 3.45 | -13.75 | 1.06 | -22.06 | 7.32 | 8.93 | 66.77 | -7.73 | 94.49 | 39.76 | 5.51 | -82.99 | 0.00 | 0 | 9.03 | 21.86 |
| 2022 (9) | 1.46 | -58.99 | 9.71 | -26.61 | 2.59 | -56.25 | 2.58 | -6.5 | 3.83 | -39.69 | 2.68 | -48.95 | 6.50 | -62.14 | 4.00 | -56.52 | 1.36 | -20.0 | 6.72 | -27.9 | 72.36 | -14.61 | 67.61 | -27.51 | 32.39 | 380.52 | 0.00 | 0 | 7.41 | 3.78 |
| 2021 (8) | 3.56 | 217.86 | 13.23 | 4.26 | 5.92 | 54.97 | 2.76 | -26.78 | 6.35 | 61.58 | 5.25 | 115.16 | 17.17 | 188.57 | 9.20 | 174.63 | 1.70 | 42.86 | 9.32 | 14.22 | 84.74 | -17.1 | 93.26 | -3.32 | 6.74 | 153.93 | 0.00 | 0 | 7.14 | -19.59 |
| 2020 (7) | 1.12 | 1500.0 | 12.69 | 27.79 | 3.82 | 354.76 | 3.77 | 5.13 | 3.93 | 351.72 | 2.44 | 1526.67 | 5.95 | 1552.78 | 3.35 | 415.38 | 1.19 | 1.71 | 8.16 | 64.52 | 102.22 | -5.52 | 96.46 | 0.65 | 2.65 | -36.28 | 0.00 | 0 | 8.88 | -1.11 |
| 2019 (6) | 0.07 | -89.06 | 9.93 | 11.82 | 0.84 | 2.44 | 3.58 | 70.79 | 0.87 | -45.28 | 0.15 | -87.5 | 0.36 | -89.41 | 0.65 | -69.48 | 1.17 | -16.43 | 4.96 | 20.68 | 108.19 | 19.02 | 95.83 | 84.82 | 4.17 | -91.35 | 0.00 | 0 | 8.98 | 21.85 |
| 2018 (5) | 0.64 | 0 | 8.88 | -1.55 | 0.82 | 12.33 | 2.10 | -18.28 | 1.59 | 893.75 | 1.20 | 0 | 3.40 | 0 | 2.13 | 343.75 | 1.40 | 13.82 | 4.11 | 27.64 | 90.90 | -21.58 | 51.85 | -88.73 | 48.15 | 0 | 0.00 | 0 | 7.37 | -1.21 |
| 2017 (4) | 0.00 | 0 | 9.02 | -26.85 | 0.73 | -67.12 | 2.57 | -27.43 | 0.16 | -91.21 | 0.00 | 0 | 0.00 | 0 | 0.48 | -73.03 | 1.23 | 11.82 | 3.22 | -45.88 | 115.91 | 10.71 | 460.00 | 274.24 | -360.00 | 0 | 0.00 | 0 | 7.46 | -19.26 |
| 2016 (3) | 0.48 | 23.08 | 12.33 | 10.48 | 2.22 | 26.86 | 3.54 | 1.36 | 1.82 | 29.08 | 1.13 | 34.52 | 2.44 | 23.86 | 1.78 | 12.66 | 1.10 | -7.56 | 5.95 | 8.38 | 104.70 | 15.83 | 122.92 | -0.72 | -22.92 | 0 | 0.00 | 0 | 9.24 | 9.61 |
| 2015 (2) | 0.39 | -26.42 | 11.16 | 7.93 | 1.75 | 7.36 | 3.49 | 4.56 | 1.41 | -10.76 | 0.84 | -14.29 | 1.97 | -27.57 | 1.58 | -18.97 | 1.19 | -9.16 | 5.49 | -0.9 | 90.39 | -15.07 | 123.81 | 19.39 | -23.81 | 0 | 0.00 | 0 | 8.43 | 17.25 |
| 2014 (1) | 0.53 | 0 | 10.34 | 0 | 1.63 | 0 | 3.34 | 0 | 1.58 | 0 | 0.98 | 0 | 2.72 | 0 | 1.95 | 0 | 1.31 | 0 | 5.54 | 0 | 106.43 | 0 | 103.70 | 0 | -3.70 | 0 | 0.00 | 0 | 7.19 | 0 |
