- 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 | |||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 20Q2 (20) | -0.30 | 72.73 | -134.09 | 30.63 | 0.66 | -6.84 | -9.95 | -12.94 | -301.42 | -4.34 | 52.31 | -182.04 | -2.65 | 66.24 | -168.48 | -2.60 | 55.86 | -158.3 | -0.39 | 75.16 | -129.55 | 0.21 | -4.55 | -32.26 | 3.12 | 218.63 | -68.67 | 670.61 | 176.21 | 114.45 | 234.62 | 142.44 | 149.59 | -130.77 | -4153.85 | -2279.49 | 0.00 | -100.0 | -100.0 |
| 20Q1 (19) | -1.10 | -140.29 | -329.17 | 30.43 | -16.01 | -15.5 | -8.81 | -160.97 | -777.69 | -9.10 | -167.76 | -665.22 | -7.85 | -174.83 | -935.11 | -5.89 | -137.59 | -864.94 | -1.57 | -135.28 | -456.82 | 0.22 | -46.34 | -31.25 | -2.63 | -115.56 | -137.09 | 242.79 | -1.96 | -0.11 | 96.77 | -9.92 | 16.13 | 3.23 | 143.42 | -80.65 | 26.79 | 0 | 11.21 |
| 19Q4 (18) | 2.73 | 85.71 | 35.15 | 36.23 | 4.92 | 233.15 | 14.45 | 91.9 | -56.61 | 13.43 | 78.35 | -59.98 | 10.49 | 74.54 | -62.91 | 15.67 | 97.6 | 212.15 | 4.45 | 107.94 | 38.63 | 0.41 | 24.24 | 272.73 | 16.90 | 42.62 | -8.15 | 247.64 | -11.6 | 222.7 | 107.43 | 7.43 | 8.55 | -7.43 | 0 | -820.57 | 0.00 | -100.0 | 100.0 |
| 19Q3 (17) | 1.47 | 67.05 | 48.48 | 34.53 | 5.02 | -2.07 | 7.53 | 52.43 | -15.49 | 7.53 | 42.34 | -20.74 | 6.01 | 55.3 | -19.87 | 7.93 | 77.8 | 132.55 | 2.14 | 62.12 | -6.14 | 0.33 | 6.45 | 10.0 | 11.85 | 18.98 | 5.05 | 280.13 | -10.42 | 496.78 | 100.00 | 6.38 | 6.67 | 0.00 | -100.0 | -100.0 | 18.90 | -2.88 | 2.0 |
| 19Q2 (16) | 0.88 | 83.33 | -24.14 | 32.88 | -8.69 | -10.26 | 4.94 | 280.0 | -42.76 | 5.29 | 228.57 | -44.08 | 3.87 | 311.7 | -47.56 | 4.46 | 479.22 | 40.69 | 1.32 | 200.0 | -39.17 | 0.31 | -3.13 | 6.9 | 9.96 | 40.48 | -14.94 | 312.71 | 28.66 | 495.64 | 94.00 | 12.8 | 3.06 | 6.00 | -64.0 | -31.75 | 19.46 | -19.22 | 4.85 |
| 19Q1 (15) | 0.48 | -76.24 | -20.0 | 36.01 | 232.34 | -3.69 | 1.30 | -96.1 | 581.48 | 1.61 | -95.2 | 228.57 | 0.94 | -96.68 | 1075.0 | 0.77 | -84.66 | 1825.0 | 0.44 | -86.29 | 1366.67 | 0.32 | 190.91 | 6.67 | 7.09 | -61.47 | 99.16 | 243.05 | 216.72 | 498.94 | 83.33 | -15.8 | 266.67 | 16.67 | 1516.67 | -88.89 | 24.09 | 206.5 | -4.1 |
| 18Q4 (14) | 2.02 | 104.04 | 146.34 | -27.21 | -177.17 | -183.88 | 33.30 | 273.74 | 453.16 | 33.56 | 253.26 | 413.15 | 28.28 | 277.07 | 448.06 | 5.02 | 47.21 | -11.78 | 3.21 | 40.79 | -10.08 | 0.11 | -63.33 | -84.06 | 18.40 | 63.12 | 142.11 | 76.74 | 63.49 | 16.98 | 98.97 | 5.57 | 7.5 | 1.03 | -83.51 | -87.01 | -22.62 | -222.07 | -213.5 |
| 18Q3 (13) | 0.99 | -14.66 | 0 | 35.26 | -3.77 | 0 | 8.91 | 3.24 | 0 | 9.50 | 0.42 | 0 | 7.50 | 1.63 | 0 | 3.41 | 7.57 | 0 | 2.28 | 5.07 | 0 | 0.30 | 3.45 | 0 | 11.28 | -3.67 | 0 | 46.94 | -10.59 | 0 | 93.75 | 2.79 | 0 | 6.25 | -28.91 | 0 | 18.53 | -0.16 | 0 |
| 18Q2 (12) | 1.16 | 93.33 | 0 | 36.64 | -2.01 | 0 | 8.63 | 3296.3 | 0 | 9.46 | 1830.61 | 0 | 7.38 | 9125.0 | 0 | 3.17 | 7825.0 | 0 | 2.17 | 7133.33 | 0 | 0.29 | -3.33 | 0 | 11.71 | 228.93 | 0 | 52.50 | 29.37 | 0 | 91.21 | 282.42 | 0 | 8.79 | -94.14 | 0 | 18.56 | -26.11 | 0 |
| 18Q1 (11) | 0.60 | -26.83 | 0 | 37.39 | 15.26 | 0 | -0.27 | -104.49 | 0 | 0.49 | -92.51 | 0 | 0.08 | -98.45 | 0 | 0.04 | -99.3 | 0 | 0.03 | -99.16 | 0 | 0.30 | -56.52 | 0 | 3.56 | -53.16 | 0 | 40.58 | -38.14 | 0 | -50.00 | -154.31 | 0 | 150.00 | 1790.0 | 0 | 25.12 | 26.04 | 0 |
| 17Q4 (10) | 0.82 | 0 | 0 | 32.44 | 0 | 0 | 6.02 | 0 | 0 | 6.54 | 0 | 0 | 5.16 | 0 | 0 | 5.69 | 0 | 0 | 3.57 | 0 | 0 | 0.69 | 0 | 0 | 7.60 | 0 | 0 | 65.60 | 0 | 0 | 92.06 | 0 | 0 | 7.94 | 0 | 0 | 19.93 | 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 | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2019 (10) | 5.68 | 18.09 | 34.97 | -5.84 | 7.95 | -9.76 | 2.39 | 297.29 | 7.77 | -18.12 | 5.98 | -20.05 | 16.29 | -14.62 | 8.05 | -33.47 | 1.27 | -21.6 | 12.11 | 3.68 | 247.64 | 356.73 | 102.22 | 10.11 | -2.22 | 0 | 35.22 | 34.21 | 18.70 | -1.22 |
| 2018 (9) | 4.81 | 55.66 | 37.14 | 34.96 | 8.81 | 67.81 | 0.60 | 48.65 | 9.49 | 66.49 | 7.48 | 60.17 | 19.08 | 33.43 | 12.10 | 37.97 | 1.62 | -13.83 | 11.68 | 78.05 | 54.22 | -17.35 | 92.84 | 1.34 | 7.16 | -7.48 | 26.24 | -11.09 | 18.93 | 11.35 |
| 2017 (8) | 3.09 | -4.63 | 27.52 | 2.15 | 5.25 | -3.14 | 0.41 | -20.22 | 5.70 | -9.67 | 4.67 | -8.61 | 14.30 | -39.43 | 8.77 | -30.4 | 1.88 | -23.58 | 6.56 | -8.25 | 65.60 | 8.83 | 91.61 | 6.64 | 7.74 | -45.07 | 29.52 | 0 | 17.00 | 9.54 |
| 2016 (7) | 3.24 | -61.7 | 26.94 | 11.6 | 5.42 | 12.92 | 0.51 | -9.66 | 6.31 | 12.28 | 5.11 | 12.06 | 23.61 | -31.29 | 12.60 | 9.28 | 2.46 | 0.0 | 7.15 | 11.2 | 60.28 | -68.82 | 85.91 | 0.41 | 14.09 | -2.43 | 0.00 | 0 | 15.52 | 3.81 |
| 2015 (6) | 8.46 | -98.25 | 24.14 | 3.74 | 4.80 | -19.06 | 0.56 | -8.37 | 5.62 | -0.53 | 4.56 | 4.35 | 34.36 | -27.13 | 11.53 | -28.25 | 2.46 | -31.28 | 6.43 | -0.62 | 193.35 | -11.98 | 85.56 | -18.48 | 14.44 | 0 | 0.00 | 0 | 14.95 | 11.82 |
| 2014 (5) | 483.59 | 2291.64 | 23.27 | -35.33 | 5.93 | 36.64 | 0.61 | -18.04 | 5.65 | 0.89 | 4.37 | -6.02 | 47.15 | 70.59 | 16.07 | 55.87 | 3.58 | 61.99 | 6.47 | -4.01 | 219.66 | 31.38 | 104.95 | 33.9 | -4.95 | 0 | 0.00 | 0 | 13.37 | -40.55 |
| 2013 (4) | 20.22 | 0 | 35.98 | 0 | 4.34 | 0 | 0.75 | 0 | 5.60 | 0 | 4.65 | 0 | 27.64 | 0 | 10.31 | 0 | 2.21 | 0 | 6.74 | 0 | 167.19 | 0 | 78.38 | 0 | 21.62 | 0 | 0.00 | 0 | 22.49 | 0 |
