- 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)
| 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 | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 23Q4 (20) | 0.58 | 105.14 | 102.17 | -12.93 | 44.12 | 67.86 | -30.78 | -9.58 | 26.4 | -30.50 | -9.01 | 26.89 | -21.84 | -24.59 | -12.29 | -3.99 | -6.4 | 26.65 | 0.15 | 0.0 | 7.14 | -17.73 | -11.58 | 38.8 | 452.98 | 33.89 | 70.71 | 41.38 | -49.75 | -56.9 | 57.47 | 225.67 | 1336.78 | 11.54 | -12.84 | -19.92 |
| 23Q3 (19) | -11.29 | 40.61 | 11.17 | -23.14 | 33.7 | 11.03 | -28.09 | 30.95 | 4.88 | -27.98 | 31.0 | 4.89 | -17.53 | 7.49 | -30.24 | -3.75 | 20.04 | 3.6 | 0.15 | 15.38 | 0.0 | -15.89 | 40.24 | 7.13 | 338.32 | 13.76 | 61.52 | 82.35 | -3.48 | -6.83 | 17.65 | 28.24 | 52.04 | 13.24 | -20.14 | -5.36 |
| 23Q2 (18) | -19.01 | 12.48 | -948.66 | -34.90 | 4.2 | -246.57 | -40.68 | -129.18 | -296.49 | -40.55 | -130.01 | -298.33 | -18.95 | -129.7 | -253.54 | -4.69 | -153.51 | -237.41 | 0.13 | 0.0 | -23.53 | -26.59 | -918.77 | 0 | 297.41 | 21.2 | 35.17 | 85.32 | -58.1 | -12.74 | 13.76 | 113.28 | 519.27 | 16.58 | -9.05 | 40.87 |
| 23Q1 (17) | -21.72 | 18.59 | -445.31 | -36.43 | 9.45 | -431.82 | -17.75 | 57.56 | -413.01 | -17.63 | 57.74 | -421.6 | -8.25 | 57.58 | -391.07 | -1.85 | 65.99 | -460.61 | 0.13 | -7.14 | -23.53 | -2.61 | 90.99 | -143.14 | 245.38 | -7.53 | 23.93 | 203.64 | 112.12 | 1.82 | -103.64 | -2690.91 | -3.64 | 18.23 | 26.51 | 32.1 |
| 22Q4 (16) | -26.68 | -109.91 | -855.81 | -40.23 | -54.67 | -522.76 | -41.82 | -41.62 | -55.58 | -41.72 | -41.81 | -88.27 | -19.45 | -44.5 | -75.23 | -5.44 | -39.85 | -44.68 | 0.14 | -6.67 | -22.22 | -28.97 | -69.32 | -63.67 | 265.35 | 26.68 | 40.14 | 96.00 | 8.61 | 301.14 | 4.00 | -65.54 | -94.74 | 14.41 | 3.0 | 25.74 |
| 22Q3 (15) | -12.71 | -667.41 | -748.47 | -26.01 | -158.29 | -143.77 | -29.53 | -187.82 | -190.65 | -29.42 | -189.0 | -187.87 | -13.46 | -151.12 | -239.9 | -3.89 | -179.86 | -203.91 | 0.15 | -11.76 | 0.0 | -17.11 | 0 | -3210.91 | 209.46 | -4.8 | 26.44 | 88.39 | -9.6 | -16.14 | 11.61 | 422.32 | 314.73 | 13.99 | 18.86 | 9.04 |
| 22Q2 (14) | 2.24 | -64.39 | -80.05 | -10.07 | -47.01 | -482.08 | -10.26 | -196.53 | -77.2 | -10.18 | -201.18 | -130.32 | -5.36 | -219.05 | -208.05 | -1.39 | -321.21 | -202.17 | 0.17 | 0.0 | 6.25 | 0.00 | -100.0 | -100.0 | 220.03 | 11.13 | 40.25 | 97.78 | -51.11 | 207.3 | 2.22 | 102.22 | -96.74 | 11.77 | -14.71 | -9.32 |
| 22Q1 (13) | 6.29 | 78.19 | 203.86 | -6.85 | -6.04 | 38.18 | -3.46 | 87.13 | -143.66 | -3.38 | 84.75 | -2.11 | -1.68 | 84.86 | -31.25 | -0.33 | 91.22 | -17.86 | 0.17 | -5.56 | 13.33 | 6.05 | 134.18 | -42.27 | 198.00 | 4.57 | 31.46 | 200.00 | 735.71 | -75.61 | -100.00 | -231.46 | 86.11 | 13.80 | 20.42 | 3.68 |
| 21Q4 (12) | 3.53 | 80.1 | 194.17 | -6.46 | 39.46 | 36.35 | -26.88 | -164.57 | -148.89 | -22.16 | -116.83 | -118.33 | -11.10 | -180.3 | -191.34 | -3.76 | -193.75 | -198.41 | 0.18 | 20.0 | 20.0 | -17.70 | -3318.18 | -1411.11 | 189.34 | 14.29 | 28.29 | 23.93 | -77.3 | -74.81 | 76.07 | 1507.26 | 1421.37 | 11.46 | -10.68 | -9.69 |
| 21Q3 (11) | 1.96 | -82.55 | -70.66 | -10.67 | -516.76 | -101.7 | -10.16 | -75.47 | -4.1 | -10.22 | -131.22 | -2.2 | -3.96 | -127.59 | -15.45 | -1.28 | -178.26 | -19.63 | 0.15 | -6.25 | 15.38 | 0.55 | -86.15 | -80.77 | 165.66 | 5.6 | 6.07 | 105.41 | 231.27 | 88.62 | -5.41 | -107.93 | -111.49 | 12.83 | -1.16 | -18.95 |
| 21Q2 (10) | 11.23 | 442.51 | 154.02 | -1.73 | 84.39 | 94.88 | -5.79 | -307.75 | 82.32 | -4.42 | -33.53 | 86.82 | -1.74 | -35.94 | 81.82 | -0.46 | -64.29 | 86.55 | 0.16 | 6.67 | 45.45 | 3.97 | -62.12 | 127.78 | 156.88 | 4.16 | -6.1 | 31.82 | -96.12 | -69.1 | 68.18 | 109.47 | 2395.45 | 12.98 | -2.48 | 0 |
| 21Q1 (9) | 2.07 | 72.5 | 125.62 | -11.08 | -9.16 | 40.69 | -1.42 | 86.85 | 94.41 | -3.31 | 67.39 | 86.32 | -1.28 | 66.4 | 86.82 | -0.28 | 77.78 | 92.53 | 0.15 | 0.0 | -11.76 | 10.48 | 676.3 | 178.74 | 150.62 | 2.05 | 0.51 | 820.00 | 763.16 | 1011.56 | -720.00 | -14500.0 | -2845.0 | 13.31 | 4.89 | 0 |
| 20Q4 (8) | 1.20 | -82.04 | 185.71 | -10.15 | -91.87 | 34.13 | -10.80 | -10.66 | 51.42 | -10.15 | -1.5 | 55.68 | -3.81 | -11.08 | 41.38 | -1.26 | -17.76 | 50.59 | 0.15 | 15.38 | 25.0 | 1.35 | -52.8 | 113.83 | 147.59 | -5.5 | 12.23 | 95.00 | 70.0 | 36.67 | 5.00 | -89.38 | -83.6 | 12.69 | -19.84 | 0 |
| 20Q3 (7) | 6.68 | 132.13 | 183.71 | -5.29 | 84.34 | 75.6 | -9.76 | 70.19 | 55.49 | -10.00 | 70.18 | 53.73 | -3.43 | 64.16 | 39.51 | -1.07 | 68.71 | 53.68 | 0.13 | 18.18 | 8.33 | 2.86 | 120.01 | 139.83 | 156.18 | -6.52 | 26.46 | 55.88 | -45.73 | -43.4 | 47.06 | 1684.31 | 3617.65 | 15.83 | 0 | -20.17 |
| 20Q2 (6) | -20.79 | -157.3 | -141.18 | -33.79 | -80.89 | -40.5 | -32.74 | -28.95 | -23.22 | -33.54 | -38.65 | -21.96 | -9.57 | 1.44 | -43.26 | -3.42 | 8.8 | -14.77 | 0.11 | -35.29 | -8.33 | -14.29 | -7.36 | -8.5 | 167.08 | 11.49 | 50.13 | 102.97 | 39.58 | 13.75 | -2.97 | -111.32 | -131.35 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | -8.08 | -2023.81 | -104.04 | -18.68 | -21.22 | -6.8 | -25.39 | -14.22 | -34.13 | -24.19 | -5.63 | -28.53 | -9.71 | -49.38 | -100.62 | -3.75 | -47.06 | -66.67 | 0.17 | 41.67 | 21.43 | -13.31 | -36.37 | -129.48 | 149.86 | 13.95 | 57.38 | 73.77 | 6.13 | -19.52 | 26.23 | -13.97 | 277.7 | 0.00 | 0 | -100.0 |
| 19Q4 (4) | 0.42 | 105.26 | 0.0 | -15.41 | 28.92 | 0.0 | -22.23 | -1.37 | 0.0 | -22.90 | -5.97 | 0.0 | -6.50 | -14.64 | 0.0 | -2.55 | -10.39 | 0.0 | 0.12 | 0.0 | 0.0 | -9.76 | -35.93 | 0.0 | 131.51 | 6.49 | 0.0 | 69.51 | -29.6 | 0.0 | 30.49 | 2308.54 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | -7.98 | 7.42 | 0.0 | -21.68 | 9.85 | 0.0 | -21.93 | 17.46 | 0.0 | -21.61 | 21.42 | 0.0 | -5.67 | 15.12 | 0.0 | -2.31 | 22.48 | 0.0 | 0.12 | 0.0 | 0.0 | -7.18 | 45.48 | 0.0 | 123.50 | 10.97 | 0.0 | 98.73 | 9.07 | 0.0 | 1.27 | -86.64 | 0.0 | 19.83 | -0.8 | 0.0 |
| 19Q2 (2) | -8.62 | -117.68 | 0.0 | -24.05 | -37.51 | 0.0 | -26.57 | -40.36 | 0.0 | -27.50 | -46.12 | 0.0 | -6.68 | -38.02 | 0.0 | -2.98 | -32.44 | 0.0 | 0.12 | -14.29 | 0.0 | -13.17 | -127.07 | 0.0 | 111.29 | 16.88 | 0.0 | 90.53 | -1.24 | 0.0 | 9.47 | 36.42 | 0.0 | 19.99 | 10.2 | 0.0 |
| 19Q1 (1) | -3.96 | 0.0 | 0.0 | -17.49 | 0.0 | 0.0 | -18.93 | 0.0 | 0.0 | -18.82 | 0.0 | 0.0 | -4.84 | 0.0 | 0.0 | -2.25 | 0.0 | 0.0 | 0.14 | 0.0 | 0.0 | -5.80 | 0.0 | 0.0 | 95.22 | 0.0 | 0.0 | 91.67 | 0.0 | 0.0 | 6.94 | 0.0 | 0.0 | 18.14 | 0.0 | 0.0 |
| 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) | -12.95 | 0 | -26.90 | 0 | 9.41 | 12.39 | -28.91 | 0 | -28.75 | 0 | -64.17 | 0 | -13.25 | 0 | 0.52 | -20.0 | -15.20 | 0 | 452.98 | 70.71 | 92.84 | -5.4 | 6.87 | 267.31 | 0.21 | 5.58 | 14.92 | 11.18 |
| 2022 (9) | -6.81 | 0 | -19.86 | 0 | 8.38 | 0.37 | -20.23 | 0 | -20.14 | 0 | -42.31 | 0 | -11.65 | 0 | 0.65 | 0.0 | -9.07 | 0 | 265.35 | 40.14 | 98.13 | 55.8 | 1.87 | -94.87 | 0.20 | -21.68 | 13.42 | 6.51 |
| 2021 (8) | 4.70 | 0 | -7.40 | 0 | 8.34 | -23.64 | -11.69 | 0 | -10.50 | 0 | -18.19 | 0 | -5.85 | 0 | 0.65 | 14.04 | -1.36 | 0 | 189.34 | 28.29 | 62.98 | -25.18 | 36.46 | 130.42 | 0.25 | 101.26 | 12.60 | -16.0 |
| 2020 (7) | -4.97 | 0 | -16.56 | 0 | 10.93 | 8.31 | -19.68 | 0 | -19.36 | 0 | -26.28 | 0 | -9.92 | 0 | 0.57 | 7.55 | -6.16 | 0 | 147.59 | 12.23 | 84.18 | -3.8 | 15.82 | 26.6 | 0.13 | -8.42 | 15.00 | -21.96 |
| 2019 (6) | -4.98 | 0 | -19.60 | 0 | 10.09 | 80.04 | -22.36 | 0 | -22.65 | 0 | -24.75 | 0 | -10.77 | 0 | 0.53 | -3.64 | -8.93 | 0 | 131.51 | 61.74 | 87.50 | 0 | 12.50 | -90.15 | 0.14 | -40.94 | 19.22 | 2.34 |
| 2018 (5) | -2.73 | 0 | -16.29 | 0 | 5.60 | -2.21 | 60.71 | 0 | 55.70 | 0 | 91.60 | 0 | 32.01 | 0 | 0.55 | 7.84 | 69.40 | 0 | 81.31 | -83.7 | -26.88 | 0 | 126.88 | 500.22 | 0.23 | 9.3 | 18.78 | 17.16 |
| 2017 (4) | -0.46 | 0 | -11.95 | 0 | 5.73 | 49.45 | -15.15 | 0 | -16.88 | 0 | -49.27 | 0 | -7.01 | 0 | 0.51 | -3.77 | -5.48 | 0 | 498.93 | 10.56 | 78.86 | -11.54 | 21.14 | 94.84 | 0.21 | 0 | 16.03 | -6.86 |
| 2016 (3) | -0.47 | 0 | -11.88 | 0 | 3.83 | 25.57 | -13.31 | 0 | -13.31 | 0 | -31.44 | 0 | -5.74 | 0 | 0.53 | -17.19 | -6.22 | 0 | 451.27 | 66.31 | 89.15 | 21.19 | 10.85 | -60.67 | 0.00 | 0 | 17.21 | 9.83 |
| 2015 (2) | 6.35 | 0 | -3.49 | 0 | 3.05 | 23.78 | -4.77 | 0 | -4.56 | 0 | -10.00 | 0 | -1.89 | 0 | 0.64 | 3.23 | 0.44 | 0 | 271.34 | 25.14 | 73.56 | -37.31 | 27.59 | 0 | 0.00 | 0 | 15.67 | -1.57 |
| 2014 (1) | -2.38 | 0 | -13.86 | 0 | 2.47 | 72.81 | -11.79 | 0 | -11.70 | 0 | -19.87 | 0 | -6.36 | 0 | 0.62 | 8.77 | -7.52 | 0 | 216.83 | 57.02 | 117.35 | -76.13 | -17.35 | 0 | 0.00 | 0 | 15.92 | -2.69 |
