- 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) | -0.27 | 57.81 | -107.69 | 47.62 | 8.55 | -0.52 | 2.89 | 126.44 | 12.45 | 2.15 | 126.77 | -40.44 | 1.76 | 120.28 | 19.73 | 0.92 | 123.9 | 33.33 | 0.46 | 132.62 | 17.95 | 0.20 | 11.11 | -4.76 | 12.02 | 290.26 | -9.49 | 151.23 | -9.78 | 19.63 | 137.50 | -0.69 | 98.61 | -37.50 | -8.33 | -221.88 | 51.99 | -13.78 | -1.12 |
| 24Q2 (19) | -0.64 | -166.67 | -48.84 | 43.87 | -9.99 | 8.72 | -10.93 | -3412.12 | -103.16 | -8.03 | -333.43 | -395.68 | -8.68 | -1133.33 | -127.82 | -3.85 | -1140.54 | -161.9 | -1.41 | -642.31 | -135.0 | 0.18 | 0.0 | 0.0 | 3.08 | -78.57 | -67.85 | 167.62 | 21.2 | 27.91 | 138.46 | 1423.08 | -59.28 | -34.62 | -138.08 | 85.58 | 60.30 | 1.06 | 1.31 |
| 24Q1 (18) | -0.24 | 14.29 | -71.43 | 48.74 | 4.26 | 8.62 | 0.33 | -15.38 | -88.46 | 3.44 | 207.14 | -48.66 | 0.84 | 286.67 | -76.54 | 0.37 | 285.0 | -72.39 | 0.26 | 2500.0 | -63.38 | 0.18 | -5.26 | 0.0 | 14.37 | 21.78 | -19.31 | 138.30 | -6.35 | 36.93 | 9.09 | -63.64 | -78.79 | 90.91 | 81.82 | 59.09 | 59.67 | 7.65 | 6.34 |
| 23Q4 (17) | -0.28 | -115.38 | 28.21 | 46.75 | -2.34 | 10.44 | 0.39 | -84.82 | 116.25 | 1.12 | -68.98 | 132.75 | -0.45 | -130.61 | 90.85 | -0.20 | -128.99 | 88.57 | 0.01 | -97.44 | 101.28 | 0.19 | -9.52 | 11.76 | 11.80 | -11.14 | 52.45 | 147.68 | 16.83 | 31.18 | 25.00 | -63.89 | -60.71 | 50.00 | 62.5 | 83.33 | 55.43 | 5.42 | -3.58 |
| 23Q3 (16) | -0.13 | 69.77 | -44.44 | 47.87 | 18.64 | 9.14 | 2.57 | 147.77 | 242.67 | 3.61 | 322.84 | -43.86 | 1.47 | 138.58 | -43.46 | 0.69 | 146.94 | -28.13 | 0.39 | 165.0 | -25.0 | 0.21 | 16.67 | 16.67 | 13.28 | 38.62 | -23.41 | 126.41 | -3.54 | 21.02 | 69.23 | -79.64 | 626.92 | 30.77 | 112.82 | -64.1 | 52.58 | -11.66 | -0.3 |
| 23Q2 (15) | -0.43 | -207.14 | 10.42 | 40.35 | -10.07 | -4.23 | -5.38 | -288.11 | -29.02 | -1.62 | -124.18 | 0.0 | -3.81 | -206.42 | -22.51 | -1.47 | -209.7 | -53.12 | -0.60 | -184.51 | -33.33 | 0.18 | 0.0 | 12.5 | 9.58 | -46.21 | -8.06 | 131.05 | 29.75 | 23.26 | 340.00 | 693.33 | 41.67 | -240.00 | -520.0 | -71.43 | 59.52 | 6.08 | 3.5 |
| 23Q1 (14) | -0.14 | 64.1 | -27.27 | 44.87 | 6.0 | -5.85 | 2.86 | 219.17 | -47.33 | 6.70 | 295.91 | 10.93 | 3.58 | 172.76 | 32.1 | 1.34 | 176.57 | 50.56 | 0.71 | 191.03 | 33.96 | 0.18 | 5.88 | 0.0 | 17.81 | 130.1 | 7.16 | 101.00 | -10.29 | 25.0 | 42.86 | -32.65 | -52.38 | 57.14 | 109.52 | 471.43 | 56.11 | -2.4 | 10.08 |
| 22Q4 (13) | -0.39 | -333.33 | 65.79 | 42.33 | -3.49 | -7.9 | -2.40 | -420.0 | -183.92 | -3.42 | -153.19 | 50.43 | -4.92 | -289.23 | 46.41 | -1.75 | -282.29 | 41.47 | -0.78 | -250.0 | 50.32 | 0.17 | -5.56 | -5.56 | 7.74 | -55.36 | 112.64 | 112.58 | 7.78 | 25.38 | 63.64 | 568.18 | 262.63 | 27.27 | -68.18 | -80.4 | 57.49 | 9.01 | 14.98 |
| 22Q3 (12) | -0.09 | 81.25 | -132.14 | 43.86 | 4.11 | -12.86 | 0.75 | 117.99 | -87.31 | 6.43 | 496.91 | -57.59 | 2.60 | 183.6 | -78.08 | 0.96 | 200.0 | -74.8 | 0.52 | 215.56 | -76.26 | 0.18 | 12.5 | 0.0 | 17.34 | 66.41 | -30.64 | 104.45 | -1.76 | 28.29 | 9.52 | -96.03 | -75.24 | 85.71 | 161.22 | 39.29 | 52.74 | -8.29 | 12.36 |
| 22Q2 (11) | -0.48 | -336.36 | -71.43 | 42.13 | -11.6 | -1.45 | -4.17 | -176.8 | -33.23 | -1.62 | -126.82 | -8000.0 | -3.11 | -214.76 | -211.0 | -0.96 | -207.87 | -255.56 | -0.45 | -184.91 | -246.15 | 0.16 | -11.11 | 0.0 | 10.42 | -37.3 | -3.34 | 106.32 | 31.58 | 44.5 | 240.00 | 166.67 | 0 | -140.00 | -1500.0 | 0 | 57.51 | 12.83 | 10.72 |
| 22Q1 (10) | -0.11 | 90.35 | -132.35 | 47.66 | 3.7 | -11.87 | 5.43 | 89.86 | -52.16 | 6.04 | 187.54 | -57.67 | 2.71 | 129.52 | -74.88 | 0.89 | 129.77 | -73.59 | 0.53 | 133.76 | -73.89 | 0.18 | 0.0 | 0.0 | 16.62 | 356.59 | -29.87 | 80.80 | -10.01 | 31.34 | 90.00 | 330.0 | 13.08 | 10.00 | -92.81 | -51.0 | 50.97 | 1.94 | 15.45 |
| 21Q4 (9) | -1.14 | -507.14 | -860.0 | 45.96 | -8.68 | -13.9 | 2.86 | -51.61 | -78.4 | -6.90 | -145.51 | -164.31 | -9.18 | -177.4 | -217.69 | -2.99 | -178.48 | -203.46 | -1.57 | -171.69 | -193.45 | 0.18 | 0.0 | -14.29 | 3.64 | -85.44 | -81.51 | 89.79 | 10.28 | 15.99 | -39.13 | -201.74 | -131.61 | 139.13 | 126.09 | 684.35 | 50.00 | 6.52 | 25.25 |
| 21Q3 (8) | 0.28 | 200.0 | -34.88 | 50.33 | 17.73 | -8.76 | 5.91 | 288.82 | -50.13 | 15.16 | 75900.0 | 32.06 | 11.86 | 1286.0 | 31.63 | 3.81 | 1511.11 | 9.48 | 2.19 | 1784.62 | 12.89 | 0.18 | 12.5 | -14.29 | 25.00 | 131.91 | 22.19 | 81.42 | 10.66 | 9.2 | 38.46 | 0 | -62.37 | 61.54 | 0 | 2869.23 | 46.94 | -9.63 | 23.36 |
| 21Q2 (7) | -0.28 | -182.35 | -411.11 | 42.75 | -20.95 | -20.94 | -3.13 | -127.58 | -136.35 | -0.02 | -100.14 | -100.23 | -1.00 | -109.27 | -116.86 | -0.27 | -108.01 | -114.21 | -0.13 | -106.4 | -111.71 | 0.16 | -11.11 | -11.11 | 10.78 | -54.51 | -44.06 | 73.58 | 19.6 | -19.9 | 0.00 | -100.0 | -100.0 | 0.00 | -100.0 | 0 | 51.94 | 17.64 | 0 |
| 21Q1 (6) | 0.34 | 126.67 | 240.0 | 54.08 | 1.31 | -0.2 | 11.35 | -14.27 | 2.99 | 14.27 | 32.99 | 24.85 | 10.79 | 38.33 | 39.05 | 3.37 | 16.61 | 36.44 | 2.03 | 20.83 | 36.24 | 0.18 | -14.29 | -5.26 | 23.70 | 20.37 | 11.58 | 61.52 | -20.53 | -4.74 | 79.59 | -35.71 | -16.11 | 20.41 | 185.71 | 695.92 | 44.15 | 10.6 | -4.64 |
| 20Q4 (5) | 0.15 | -65.12 | -79.17 | 53.38 | -3.23 | -0.91 | 13.24 | 11.73 | 35.52 | 10.73 | -6.53 | -30.73 | 7.80 | -13.43 | -33.22 | 2.89 | -16.95 | -29.34 | 1.68 | -13.4 | -28.81 | 0.21 | 0.0 | 5.0 | 19.69 | -3.76 | -17.82 | 77.41 | 3.82 | 1.32 | 123.81 | 21.12 | 98.1 | -23.81 | -971.43 | -163.49 | 39.92 | 4.91 | -39.4 |
| 20Q3 (4) | 0.43 | 377.78 | 0.0 | 55.16 | 2.02 | 0.0 | 11.85 | 37.63 | 0.0 | 11.48 | 32.56 | 0.0 | 9.01 | 51.94 | 0.0 | 3.48 | 83.16 | 0.0 | 1.94 | 74.77 | 0.0 | 0.21 | 16.67 | 0.0 | 20.46 | 6.18 | 0.0 | 74.56 | -18.83 | 0.0 | 102.22 | 2.22 | 0.0 | -2.22 | 0 | 0.0 | 38.05 | 0 | 0.0 |
| 20Q2 (3) | 0.09 | -10.0 | 0.0 | 54.07 | -0.22 | 0.0 | 8.61 | -21.87 | 0.0 | 8.66 | -24.23 | 0.0 | 5.93 | -23.58 | 0.0 | 1.90 | -23.08 | 0.0 | 1.11 | -25.5 | 0.0 | 0.18 | -5.26 | 0.0 | 19.27 | -9.27 | 0.0 | 91.86 | 42.24 | 0.0 | 100.00 | 5.41 | 0.0 | 0.00 | -100.0 | 0.0 | 0.00 | -100.0 | 0.0 |
| 20Q1 (2) | 0.10 | -86.11 | 0.0 | 54.19 | 0.59 | 0.0 | 11.02 | 12.79 | 0.0 | 11.43 | -26.21 | 0.0 | 7.76 | -33.56 | 0.0 | 2.47 | -39.61 | 0.0 | 1.49 | -36.86 | 0.0 | 0.19 | -5.0 | 0.0 | 21.24 | -11.35 | 0.0 | 64.58 | -15.47 | 0.0 | 94.87 | 51.79 | 0.0 | 2.56 | -93.16 | 0.0 | 46.30 | -29.72 | 0.0 |
| 19Q4 (1) | 0.72 | 0.0 | 0.0 | 53.87 | 0.0 | 0.0 | 9.77 | 0.0 | 0.0 | 15.49 | 0.0 | 0.0 | 11.68 | 0.0 | 0.0 | 4.09 | 0.0 | 0.0 | 2.36 | 0.0 | 0.0 | 0.20 | 0.0 | 0.0 | 23.96 | 0.0 | 0.0 | 76.40 | 0.0 | 0.0 | 62.50 | 0.0 | 0.0 | 37.50 | 0.0 | 0.0 | 65.88 | 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) | -0.98 | 0 | 45.12 | 2.38 | 0.23 | 360.0 | 0.75 | -92.63 | 2.49 | 23.88 | 0.25 | 0 | 0.42 | 0 | 0.50 | 0 | 0.72 | 7.46 | 13.12 | -0.3 | 147.68 | 31.18 | 9.09 | 127.27 | 90.91 | -5.3 | 2.70 | -18.12 | 55.76 | 2.18 |
| 2022 (9) | -1.08 | 0 | 44.07 | -9.08 | 0.05 | -98.89 | 10.11 | 10.82 | 2.01 | -66.16 | -0.57 | 0 | -0.76 | 0 | -0.17 | 0 | 0.67 | -4.29 | 13.16 | -17.7 | 112.58 | 25.38 | 4.00 | -94.73 | 96.00 | 299.16 | 3.30 | 6.08 | 54.57 | 13.4 |
| 2021 (8) | -0.79 | 0 | 48.47 | -10.59 | 4.49 | -60.37 | 9.13 | 12.93 | 5.94 | -44.28 | 3.38 | -56.27 | 4.36 | -58.28 | 2.53 | -58.39 | 0.70 | -9.09 | 15.99 | -20.72 | 89.79 | 16.19 | 75.95 | -28.68 | 24.05 | 0 | 3.11 | -37.01 | 48.12 | 19.61 |
| 2020 (7) | 0.77 | -73.81 | 54.21 | -7.65 | 11.33 | -20.38 | 8.08 | 19.99 | 10.66 | -37.11 | 7.73 | -37.51 | 10.45 | -42.86 | 6.08 | -43.81 | 0.77 | -10.47 | 20.17 | -18.83 | 77.28 | 1.3 | 106.49 | 27.19 | -6.49 | 0 | 4.94 | -20.07 | 40.23 | -6.16 |
| 2019 (6) | 2.94 | -71.35 | 58.70 | -18.43 | 14.23 | -57.33 | 6.73 | 290.57 | 16.95 | -49.99 | 12.37 | -54.22 | 18.29 | -60.79 | 10.82 | -64.41 | 0.86 | -23.21 | 24.85 | -30.66 | 76.29 | 14.28 | 83.73 | -15.03 | 15.87 | 870.02 | 6.18 | 471.11 | 42.87 | 120.3 |
| 2018 (5) | 10.26 | 28.09 | 71.96 | -11.28 | 33.35 | 16.65 | 1.72 | -36.91 | 33.89 | 16.46 | 27.02 | 12.49 | 46.65 | 27.25 | 30.40 | 14.93 | 1.12 | 1.82 | 35.84 | 11.34 | 66.76 | 65.7 | 98.55 | 0.29 | 1.64 | -5.75 | 1.08 | 0 | 19.46 | -14.87 |
| 2017 (4) | 8.01 | 0 | 81.11 | -3.16 | 28.59 | 295.98 | 2.73 | -0.06 | 29.10 | 307.56 | 24.02 | 303.02 | 36.66 | 171.35 | 26.45 | 158.81 | 1.10 | -35.29 | 32.19 | 212.83 | 40.29 | 15.71 | 98.26 | -3.49 | 1.74 | 0 | 0.00 | 0 | 22.86 | -29.31 |
| 2016 (3) | 0.00 | 0 | 83.76 | -0.82 | 7.22 | -32.65 | 2.73 | 9.05 | 7.14 | -38.61 | 5.96 | -42.08 | 13.51 | -46.89 | 10.22 | -46.74 | 1.70 | -8.6 | 10.29 | -29.52 | 34.82 | 9.95 | 101.82 | 10.19 | -1.82 | 0 | 0.00 | 0 | 32.34 | 4.59 |
| 2015 (2) | 4.19 | 0 | 84.45 | -4.86 | 10.72 | 0 | 2.51 | 8.5 | 11.63 | 0 | 10.29 | 0 | 25.44 | 0 | 19.19 | 0 | 1.86 | 4.49 | 14.60 | 0 | 31.67 | -10.21 | 92.41 | 22.61 | 7.59 | -69.17 | 0.00 | 0 | 30.92 | -16.64 |
| 2014 (1) | -4.02 | 0 | 88.76 | 0 | -10.91 | 0 | 2.31 | 131.09 | -14.53 | 0 | -13.66 | 0 | -32.48 | 0 | -24.27 | 0 | 1.78 | -34.07 | -10.71 | 0 | 35.27 | 11.33 | 75.36 | -56.61 | 24.64 | 0 | 0.00 | 0 | 37.09 | 72.67 |
