- 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 | |||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 24Q1 (20) | 0.15 | 850.0 | 25.0 | 0.00 | -100.0 | -100.0 | 0.00 | -100.0 | -100.0 | 0.00 | 100.0 | -100.0 | 0.00 | 100.0 | -100.0 | 0.00 | 100.0 | -100.0 | 0.00 | 100.0 | -100.0 | 0.00 | -100.0 | -100.0 | 9.12 | 77.43 | 32.37 | 0.00 | -100.0 | -100.0 | -87.67 | 91.23 | -258.9 | 189.04 | -82.81 | 321.71 | 0.00 | -100.0 | -100.0 |
| 23Q4 (19) | -0.02 | -106.9 | -133.33 | 10.59 | 29.62 | -1.21 | 2.29 | 4680.0 | -28.88 | -0.23 | -103.75 | -119.66 | -0.50 | -108.49 | -147.62 | -0.14 | -108.64 | -138.89 | -0.07 | -106.36 | -126.92 | 0.18 | 0.0 | -14.29 | 5.14 | -55.73 | 6.42 | 47.64 | -3.95 | -20.4 | -1000.00 | -131900.0 | -464.71 | 1100.00 | 983.58 | 731.48 | 20.60 | -1.86 | 18.12 |
| 23Q3 (18) | 0.29 | 93.33 | -51.67 | 8.17 | -4.11 | -34.43 | -0.05 | -104.27 | -101.24 | 6.13 | 53.63 | -41.51 | 5.89 | 112.64 | -43.2 | 1.62 | 92.86 | -53.71 | 1.10 | 92.98 | -50.45 | 0.18 | -5.26 | -14.29 | 11.61 | 29.87 | -19.77 | 49.60 | -5.31 | -17.84 | -0.76 | -102.64 | -101.96 | 101.52 | 44.58 | 64.5 | 20.99 | 7.64 | 10.53 |
| 23Q2 (17) | 0.15 | 25.0 | -51.61 | 8.52 | 35.24 | -14.46 | 1.17 | -15.22 | -45.58 | 3.99 | 60.89 | -28.11 | 2.77 | 19.4 | -47.74 | 0.84 | 20.0 | -54.84 | 0.57 | 18.75 | -51.69 | 0.19 | 0.0 | -9.52 | 8.94 | 29.75 | -7.26 | 52.38 | -10.77 | -12.39 | 28.72 | -47.94 | -26.14 | 70.21 | 56.63 | 14.89 | 19.50 | -0.76 | 9.55 |
| 23Q1 (16) | 0.12 | 100.0 | -70.73 | 6.30 | -41.23 | -40.73 | 1.38 | -57.14 | -53.69 | 2.48 | 111.97 | -64.06 | 2.32 | 120.95 | -66.76 | 0.70 | 94.44 | -72.0 | 0.48 | 84.62 | -68.0 | 0.19 | -9.52 | -9.52 | 6.89 | 42.65 | -37.59 | 58.70 | -1.92 | -12.56 | 55.17 | -79.88 | 28.26 | 44.83 | 125.73 | -20.55 | 19.65 | 12.67 | 19.02 |
| 22Q4 (15) | 0.06 | -90.0 | -81.82 | 10.72 | -13.96 | -2.55 | 3.22 | -20.3 | -4.45 | 1.17 | -88.84 | -76.02 | 1.05 | -89.87 | -80.3 | 0.36 | -89.71 | -82.27 | 0.26 | -88.29 | -78.33 | 0.21 | 0.0 | -4.55 | 4.83 | -66.62 | -45.85 | 59.85 | -0.86 | -17.78 | 274.19 | 609.21 | 294.72 | -174.19 | -382.28 | -656.57 | 17.44 | -8.16 | 10.03 |
| 22Q3 (14) | 0.60 | 93.55 | 122.22 | 12.46 | 25.1 | 19.23 | 4.04 | 87.91 | 43.26 | 10.48 | 88.83 | 153.75 | 10.37 | 95.66 | 130.96 | 3.50 | 88.17 | 101.15 | 2.22 | 88.14 | 115.53 | 0.21 | 0.0 | -4.55 | 14.47 | 50.1 | 76.46 | 60.37 | 0.97 | -19.15 | 38.66 | -0.58 | -43.53 | 61.71 | 0.98 | 95.71 | 18.99 | 6.69 | 17.01 |
| 22Q2 (13) | 0.31 | -24.39 | 1650.0 | 9.96 | -6.3 | -1.97 | 2.15 | -27.85 | 7.5 | 5.55 | -19.57 | 2742.86 | 5.30 | -24.07 | 1706.06 | 1.86 | -25.6 | 1530.77 | 1.18 | -21.33 | 2460.0 | 0.21 | 0.0 | -8.7 | 9.64 | -12.68 | 128.98 | 59.79 | -10.93 | -18.13 | 38.89 | -9.6 | 104.32 | 61.11 | 8.31 | -93.79 | 17.80 | 7.81 | 5.51 |
| 22Q1 (12) | 0.41 | 24.24 | 210.81 | 10.63 | -3.36 | 123.32 | 2.98 | -11.57 | 169.63 | 6.90 | 41.39 | 201.47 | 6.98 | 30.96 | 194.07 | 2.50 | 23.15 | 206.38 | 1.50 | 25.0 | 208.7 | 0.21 | -4.55 | 10.53 | 11.04 | 23.77 | 882.98 | 67.13 | -7.78 | -3.38 | 43.02 | -38.07 | -31.81 | 56.42 | 80.28 | 52.86 | 16.51 | 4.16 | -6.46 |
| 21Q4 (11) | 0.33 | 22.22 | 132.67 | 11.00 | 5.26 | 521.47 | 3.37 | 19.5 | 139.19 | 4.88 | 18.16 | 125.01 | 5.33 | 18.71 | 124.35 | 2.03 | 16.67 | 132.74 | 1.20 | 16.5 | 130.46 | 0.22 | 0.0 | 22.22 | 8.92 | 8.78 | 170.91 | 72.79 | -2.52 | 11.59 | 69.47 | 1.46 | 57.59 | 31.30 | -0.74 | -44.03 | 15.85 | -2.34 | -15.83 |
| 21Q3 (10) | 0.27 | 1450.0 | 139.13 | 10.45 | 2.85 | 2190.0 | 2.82 | 41.0 | 119.25 | 4.13 | 2066.67 | 126.01 | 4.49 | 1460.61 | 126.32 | 1.74 | 1438.46 | 143.07 | 1.03 | 2160.0 | 137.59 | 0.22 | -4.35 | 37.5 | 8.20 | 94.77 | 203.8 | 74.67 | 2.25 | 57.37 | 68.47 | 107.61 | -25.76 | 31.53 | -96.79 | 305.61 | 16.23 | -3.79 | -18.61 |
| 21Q2 (9) | -0.02 | 94.59 | 94.12 | 10.16 | 113.45 | 69.62 | 2.00 | 146.73 | 129.85 | -0.21 | 96.91 | 97.03 | -0.33 | 95.55 | 96.14 | -0.13 | 94.47 | 93.37 | -0.05 | 96.38 | 96.21 | 0.23 | 21.05 | 43.75 | 4.21 | 398.58 | 226.36 | 73.03 | 5.11 | 60.89 | -900.00 | -1526.6 | -1052.94 | 983.33 | 2563.94 | 20550.0 | 16.87 | -4.42 | -18.23 |
| 21Q1 (8) | -0.37 | 63.37 | 13.95 | 4.76 | 168.93 | 518.18 | -4.28 | 50.23 | 69.62 | -6.80 | 65.15 | 41.98 | -7.42 | 66.1 | 38.47 | -2.35 | 62.1 | 0.42 | -1.38 | 64.97 | 12.1 | 0.19 | 5.56 | 46.15 | -1.41 | 88.79 | 35.32 | 69.48 | 6.52 | 51.84 | 63.09 | 43.12 | -47.52 | 36.91 | -33.99 | 282.57 | 17.65 | -6.27 | -30.57 |
| 20Q4 (7) | -1.01 | -46.38 | 51.67 | 1.77 | 454.0 | -76.05 | -8.60 | 41.3 | 14.77 | -19.51 | -22.86 | 53.75 | -21.89 | -28.31 | 49.9 | -6.20 | -53.47 | 42.43 | -3.94 | -43.8 | 45.05 | 0.18 | 12.5 | 12.5 | -12.58 | -59.24 | 60.74 | 65.23 | 37.47 | 28.08 | 44.08 | -52.2 | 84.19 | 55.92 | 619.33 | -26.49 | 18.83 | -5.57 | -25.1 |
| 20Q3 (6) | -0.69 | -102.94 | -592.86 | -0.50 | -108.35 | -104.25 | -14.65 | -118.66 | -941.95 | -15.88 | -124.93 | -653.31 | -17.06 | -99.53 | -729.52 | -4.04 | -106.12 | -685.51 | -2.74 | -107.58 | -659.18 | 0.16 | 0.0 | -5.88 | -7.90 | -712.4 | -165.18 | 47.45 | 4.54 | -1.98 | 92.23 | -2.35 | 52.17 | 7.77 | 63.25 | -80.27 | 19.94 | -3.34 | -2.35 |
| 20Q2 (5) | -0.34 | 20.93 | -118.28 | 5.99 | 677.92 | -48.8 | -6.70 | 52.45 | -948.1 | -7.06 | 39.76 | -118.81 | -8.55 | 29.1 | -125.77 | -1.96 | 16.95 | -120.42 | -1.32 | 15.92 | -121.22 | 0.16 | 23.08 | -15.79 | 1.29 | 159.17 | -97.21 | 45.39 | -0.81 | -12.37 | 94.44 | -21.44 | 4291.67 | 4.76 | 123.55 | -95.13 | 20.63 | -18.84 | 1.83 |
| 20Q1 (4) | -0.43 | 79.43 | 0.0 | 0.77 | -89.58 | 0.0 | -14.09 | -39.64 | 0.0 | -11.72 | 72.21 | 0.0 | -12.06 | 72.4 | 0.0 | -2.36 | 78.09 | 0.0 | -1.57 | 78.1 | 0.0 | 0.13 | -18.75 | 0.0 | -2.18 | 93.2 | 0.0 | 45.76 | -10.15 | 0.0 | 120.22 | 402.32 | 0.0 | -20.22 | -126.58 | 0.0 | 25.42 | 1.11 | 0.0 |
| 19Q4 (3) | -2.09 | -1592.86 | 0.0 | 7.39 | -37.16 | 0.0 | -10.09 | -679.89 | 0.0 | -42.18 | -1569.69 | 0.0 | -43.69 | -1712.18 | 0.0 | -10.77 | -1660.87 | 0.0 | -7.17 | -1563.27 | 0.0 | 0.16 | -5.88 | 0.0 | -32.04 | -364.36 | 0.0 | 50.93 | 5.21 | 0.0 | 23.93 | -60.51 | 0.0 | 76.07 | 93.09 | 0.0 | 25.14 | 23.11 | 0.0 |
| 19Q3 (2) | 0.14 | -92.47 | 0.0 | 11.76 | 0.51 | 0.0 | 1.74 | 120.25 | 0.0 | 2.87 | -92.35 | 0.0 | 2.71 | -91.83 | 0.0 | 0.69 | -92.81 | 0.0 | 0.49 | -92.12 | 0.0 | 0.17 | -10.53 | 0.0 | 12.12 | -73.75 | 0.0 | 48.41 | -6.54 | 0.0 | 60.61 | 2718.18 | 0.0 | 39.39 | -59.74 | 0.0 | 20.42 | 0.79 | 0.0 |
| 19Q2 (1) | 1.86 | 0.0 | 0.0 | 11.70 | 0.0 | 0.0 | 0.79 | 0.0 | 0.0 | 37.53 | 0.0 | 0.0 | 33.18 | 0.0 | 0.0 | 9.60 | 0.0 | 0.0 | 6.22 | 0.0 | 0.0 | 0.19 | 0.0 | 0.0 | 46.18 | 0.0 | 0.0 | 51.80 | 0.0 | 0.0 | 2.15 | 0.0 | 0.0 | 97.85 | 0.0 | 0.0 | 20.26 | 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) | 0.53 | -61.87 | 8.36 | -23.58 | 1.20 | -61.29 | 4.32 | 16.97 | 3.09 | -48.41 | 2.61 | -55.69 | 3.01 | -63.38 | 2.09 | -58.94 | 0.75 | -10.71 | 8.14 | -18.27 | 47.64 | -20.4 | 39.07 | -24.52 | 61.29 | 27.06 | 3.34 | 6833.64 | 20.16 | 14.03 |
| 2022 (9) | 1.39 | 561.9 | 10.94 | 17.63 | 3.10 | 152.03 | 3.70 | -11.71 | 5.99 | 596.51 | 5.89 | 554.44 | 8.22 | 527.48 | 5.09 | 465.56 | 0.84 | -2.33 | 9.96 | 88.28 | 59.85 | -17.78 | 51.76 | -64.13 | 48.24 | 0 | 0.05 | -14.88 | 17.68 | 6.51 |
| 2021 (8) | 0.21 | 0 | 9.30 | 355.88 | 1.23 | 0 | 4.19 | -46.47 | 0.86 | 0 | 0.90 | 0 | 1.31 | 0 | 0.90 | 0 | 0.86 | 43.33 | 5.29 | 0 | 72.79 | 11.59 | 144.32 | 84.17 | -44.32 | 0 | 0.06 | -40.68 | 16.60 | -20.91 |
| 2020 (7) | -2.47 | 0 | 2.04 | -76.52 | -10.83 | 0 | 7.82 | -17.22 | -13.81 | 0 | -15.23 | 0 | -14.48 | 0 | -9.10 | 0 | 0.60 | -13.04 | -5.70 | 0 | 65.23 | 28.08 | 78.36 | -87.01 | 21.54 | 0 | 0.10 | -35.21 | 20.99 | -6.88 |
| 2019 (6) | -0.45 | 0 | 8.69 | -25.22 | -3.97 | 0 | 9.45 | 7.16 | -0.65 | 0 | -2.28 | 0 | -2.46 | 0 | -1.41 | 0 | 0.69 | 0.0 | 9.18 | 3.15 | 50.93 | -17.99 | 603.45 | 0 | -505.17 | 0 | 0.15 | -1.54 | 22.54 | 6.02 |
| 2018 (5) | -0.30 | 0 | 11.62 | -31.4 | 0.01 | -99.87 | 8.82 | 22.11 | -0.39 | 0 | -1.34 | 0 | -1.58 | 0 | -0.72 | 0 | 0.69 | -22.47 | 8.90 | -37.89 | 62.10 | -23.93 | -2.63 | 0 | 102.63 | 0 | 0.15 | 0 | 21.26 | 5.93 |
| 2017 (4) | 1.37 | -4.2 | 16.94 | 14.23 | 7.67 | 53.4 | 7.22 | -20.09 | 6.60 | 13.6 | 4.86 | -10.17 | 7.33 | -8.94 | 4.61 | -10.83 | 0.89 | -2.2 | 14.33 | -6.52 | 81.64 | 44.04 | 116.16 | 35.06 | -16.16 | 0 | 0.00 | 0 | 20.07 | 1.47 |
| 2016 (3) | 1.43 | 41.58 | 14.83 | 31.59 | 5.00 | 216.46 | 9.04 | 17.89 | 5.81 | 38.66 | 5.41 | 30.99 | 8.05 | 34.84 | 5.17 | 32.9 | 0.91 | 2.25 | 15.33 | 25.04 | 56.68 | -20.89 | 86.01 | 128.85 | 13.99 | -77.58 | 0.00 | 0 | 19.78 | 4.6 |
| 2015 (2) | 1.01 | 405.0 | 11.27 | 74.46 | 1.58 | 0 | 7.67 | 15.48 | 4.19 | 481.94 | 4.13 | 525.76 | 5.97 | 393.39 | 3.89 | 270.48 | 0.89 | -20.54 | 12.26 | 56.78 | 71.65 | 37.13 | 37.58 | 0 | 62.42 | -76.41 | 0.00 | 0 | 18.91 | 27.77 |
| 2014 (1) | 0.20 | 0 | 6.46 | 0 | -1.20 | 0 | 6.64 | -12.16 | 0.72 | 0 | 0.66 | 0 | 1.21 | 0 | 1.05 | 0 | 1.12 | 30.23 | 7.82 | 142.86 | 52.25 | -31.75 | -165.62 | 0 | 264.58 | 0 | 0.00 | 0 | 14.80 | -7.27 |
