- 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) | 2.08 | 80.87 | 342.55 | -1.58 | -5.33 | 44.76 | -4.74 | -495.0 | 5.2 | -3.87 | -704.69 | 5.15 | -2.71 | -777.5 | 1.45 | -1.32 | -512.5 | 3.65 | 0.37 | 15.62 | 2.78 | -2.25 | -155.97 | 3.02 | 90.37 | 0.55 | -1.08 | 33.43 | 126.61 | -41.37 | 66.57 | -70.33 | 55.91 | 3.01 | -23.99 | -10.68 |
| 23Q3 (19) | 1.15 | 191.27 | 159.59 | -1.50 | 59.35 | 65.68 | 1.20 | 168.97 | 257.89 | 0.64 | 141.56 | 239.13 | 0.40 | 135.4 | 229.03 | 0.32 | 168.09 | 557.14 | 0.32 | -15.79 | -11.11 | 4.02 | 482.61 | 128.41 | 89.88 | -9.07 | 9.46 | -125.64 | -159.44 | -121.73 | 224.36 | 300.1 | 147.1 | 3.96 | 19.64 | 15.12 |
| 23Q2 (18) | -1.26 | -202.44 | -128.57 | -3.69 | -186.05 | -318.34 | -1.74 | -33.85 | -157.24 | -1.54 | -58.76 | -162.1 | -1.13 | -41.25 | -163.13 | -0.47 | -56.67 | -147.0 | 0.38 | -11.63 | 0.0 | 0.69 | -23.33 | -86.83 | 98.84 | 10.13 | 2.7 | 211.36 | 113.3 | 279.16 | -112.12 | -12433.33 | -353.35 | 3.31 | 11.45 | -1.49 |
| 23Q1 (17) | 1.23 | 161.7 | -71.13 | -1.29 | 54.9 | -248.28 | -1.30 | 74.0 | -158.56 | -0.97 | 76.23 | -154.49 | -0.80 | 70.91 | -175.47 | -0.30 | 78.1 | -148.39 | 0.43 | 19.44 | 34.37 | 0.90 | 138.79 | -81.01 | 89.75 | -1.76 | 4.41 | 99.09 | 73.78 | 154.03 | 0.91 | -97.87 | -98.51 | 2.97 | -11.87 | -25.19 |
| 22Q4 (16) | 0.47 | 124.35 | -85.13 | -2.86 | 34.55 | -597.56 | -5.00 | -557.89 | -7042.86 | -4.08 | -786.96 | 0 | -2.75 | -787.1 | 0 | -1.37 | -1857.14 | -3525.0 | 0.36 | 0.0 | 2.86 | -2.32 | -231.82 | -201.75 | 91.36 | 11.27 | 5.84 | 57.02 | -90.14 | -91.55 | 42.70 | 108.96 | 107.43 | 3.37 | -2.03 | -18.2 |
| 22Q3 (15) | -1.93 | -143.76 | -161.27 | -4.37 | -358.58 | -21950.0 | -0.76 | -125.0 | -606.67 | -0.46 | -118.55 | -319.05 | -0.31 | -117.32 | -381.82 | -0.07 | -107.0 | -170.0 | 0.36 | -5.26 | 20.0 | 1.76 | -66.41 | -39.73 | 82.11 | -14.68 | 20.24 | 578.18 | 937.2 | 4525.45 | -476.36 | -1176.4 | -644.42 | 3.44 | 2.38 | -18.87 |
| 22Q2 (14) | 4.41 | 3.52 | -26.74 | 1.69 | 94.25 | -42.32 | 3.04 | 36.94 | 28.81 | 2.48 | 39.33 | 37.78 | 1.79 | 68.87 | 75.49 | 1.00 | 61.29 | 53.85 | 0.38 | 18.75 | 11.76 | 5.24 | 10.55 | 5.22 | 96.24 | 11.96 | 41.76 | 55.74 | 42.91 | -55.4 | 44.26 | -27.44 | 282.08 | 3.36 | -15.37 | -13.18 |
| 22Q1 (13) | 4.26 | 34.81 | -35.16 | 0.87 | 312.2 | -74.56 | 2.22 | 3271.43 | -32.52 | 1.78 | 0 | -32.06 | 1.06 | 0 | -28.38 | 0.62 | 1450.0 | -32.61 | 0.32 | -8.57 | -3.03 | 4.74 | 107.89 | -21.52 | 85.96 | -0.42 | 24.69 | 39.01 | -94.22 | -62.55 | 60.99 | 110.61 | 1571.45 | 3.97 | -3.64 | 1.02 |
| 21Q4 (12) | 3.16 | 0.32 | -38.4 | -0.41 | -2150.0 | -122.16 | -0.07 | -146.67 | -109.72 | 0.00 | -100.0 | -100.0 | 0.00 | -100.0 | -100.0 | 0.04 | -60.0 | -85.71 | 0.35 | 16.67 | 25.0 | 2.28 | -21.92 | -43.28 | 86.32 | 26.4 | 21.41 | 675.00 | 5300.0 | 158.51 | -575.00 | -757.14 | -263.16 | 4.12 | -2.83 | 1.73 |
| 21Q3 (11) | 3.15 | -47.67 | 76.97 | 0.02 | -99.32 | 100.9 | 0.15 | -93.64 | 104.1 | 0.21 | -88.33 | 107.55 | 0.11 | -89.22 | 110.68 | 0.10 | -84.62 | 120.0 | 0.30 | -11.76 | 50.0 | 2.92 | -41.37 | 172.9 | 68.29 | 0.59 | -18.03 | 12.50 | -90.0 | -79.43 | 87.50 | 460.0 | 118.75 | 4.24 | 9.56 | -26.39 |
| 21Q2 (10) | 6.02 | -8.37 | 998.51 | 2.93 | -14.33 | 144.26 | 2.36 | -28.27 | 118.04 | 1.80 | -31.3 | 117.19 | 1.02 | -31.08 | 143.59 | 0.65 | -29.35 | 155.56 | 0.34 | 3.03 | 183.33 | 4.98 | -17.55 | 206.87 | 67.89 | -1.52 | -21.34 | 125.00 | 20.02 | 147.24 | -24.31 | -486.37 | -149.16 | 3.87 | -1.53 | 0 |
| 21Q1 (9) | 6.57 | 28.07 | 357.65 | 3.42 | 84.86 | 142.01 | 3.29 | 356.94 | 155.95 | 2.62 | 227.5 | 154.02 | 1.48 | 279.49 | 201.37 | 0.92 | 228.57 | 227.78 | 0.33 | 17.86 | 106.25 | 6.04 | 50.25 | 4214.29 | 68.94 | -3.04 | -23.06 | 104.15 | -60.11 | -24.66 | -4.15 | 97.38 | 89.32 | 3.93 | -2.96 | 0 |
| 20Q4 (8) | 5.13 | 188.2 | 1050.0 | 1.85 | 183.71 | 133.7 | 0.72 | 119.67 | 104.71 | 0.80 | 128.78 | 106.36 | 0.39 | 137.86 | 109.63 | 0.28 | 156.0 | 112.96 | 0.28 | 40.0 | 55.56 | 4.02 | 275.7 | 140.24 | 71.10 | -14.66 | -10.15 | 261.11 | 329.68 | 628.21 | -158.33 | -495.83 | -346.84 | 4.05 | -29.69 | -36.72 |
| 20Q3 (7) | 1.78 | 365.67 | -61.3 | -2.21 | 66.62 | -294.64 | -3.66 | 72.02 | -4675.0 | -2.78 | 73.45 | -3188.89 | -1.03 | 55.98 | -3533.33 | -0.50 | 57.26 | -655.56 | 0.20 | 66.67 | 11.11 | 1.07 | 122.96 | -78.34 | 83.31 | -3.48 | -1.2 | 60.77 | 20.2 | 109.12 | 40.00 | -19.1 | -94.55 | 5.76 | 0 | -11.79 |
| 20Q2 (6) | -0.67 | 73.73 | -42.55 | -6.62 | 18.67 | -38.49 | -13.08 | -122.45 | -1476.84 | -10.47 | -115.88 | -1026.55 | -2.34 | -60.27 | -657.14 | -1.17 | -62.5 | -490.0 | 0.12 | -25.0 | -42.86 | -4.66 | -3428.57 | -188.93 | 86.31 | -3.67 | 3.41 | 50.56 | -63.43 | 109.95 | 49.44 | 227.35 | -91.87 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | -2.55 | -372.22 | -138.81 | -8.14 | -48.27 | -499.02 | -5.88 | 61.52 | -251.16 | -4.85 | 61.42 | -253.0 | -1.46 | 63.95 | -228.07 | -0.72 | 66.67 | -200.0 | 0.16 | -11.11 | -23.81 | 0.14 | 101.4 | -98.33 | 89.60 | 13.23 | 25.79 | 138.24 | 285.52 | 164.06 | -38.82 | -160.53 | -181.47 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | -0.54 | -111.74 | 0.0 | -5.49 | -880.36 | 0.0 | -15.28 | -19200.0 | 0.0 | -12.57 | -14066.67 | 0.0 | -4.05 | -13600.0 | 0.0 | -2.16 | -2500.0 | 0.0 | 0.18 | 0.0 | 0.0 | -9.99 | -302.23 | 0.0 | 79.13 | -6.16 | 0.0 | 35.86 | 105.38 | 0.0 | 64.14 | -91.25 | 0.0 | 6.40 | -1.99 | 0.0 |
| 19Q3 (3) | 4.60 | 1078.72 | 0.0 | -0.56 | 88.28 | 0.0 | 0.08 | -91.58 | 0.0 | 0.09 | -92.04 | 0.0 | 0.03 | -92.86 | 0.0 | 0.09 | -70.0 | 0.0 | 0.18 | -14.29 | 0.0 | 4.94 | -5.73 | 0.0 | 84.32 | 1.03 | 0.0 | -666.67 | -31.21 | 0.0 | 733.33 | 20.59 | 0.0 | 6.53 | 11.43 | 0.0 |
| 19Q2 (2) | -0.47 | -107.15 | 0.0 | -4.78 | -334.31 | 0.0 | 0.95 | -75.58 | 0.0 | 1.13 | -64.35 | 0.0 | 0.42 | -63.16 | 0.0 | 0.30 | -58.33 | 0.0 | 0.21 | 0.0 | 0.0 | 5.24 | -37.4 | 0.0 | 83.46 | 17.17 | 0.0 | -508.11 | -1070.62 | 0.0 | 608.11 | 1176.17 | 0.0 | 5.86 | -2.5 | 0.0 |
| 19Q1 (1) | 6.57 | 0.0 | 0.0 | 2.04 | 0.0 | 0.0 | 3.89 | 0.0 | 0.0 | 3.17 | 0.0 | 0.0 | 1.14 | 0.0 | 0.0 | 0.72 | 0.0 | 0.0 | 0.21 | 0.0 | 0.0 | 8.37 | 0.0 | 0.0 | 71.23 | 0.0 | 0.0 | 52.35 | 0.0 | 0.0 | 47.65 | 0.0 | 0.0 | 6.01 | 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) | 0.78 | -56.18 | -2.02 | 0 | 2.08 | -3.78 | -1.69 | 0 | -1.46 | 0 | -4.27 | 0 | -1.79 | 0 | 1.53 | 6.25 | 0.77 | -67.37 | 90.37 | -1.08 | 119.32 | -87.53 | -19.32 | 0 | 0.03 | -13.77 | 3.28 | -6.82 |
| 2022 (9) | 1.78 | -62.21 | -1.18 | 0 | 2.16 | -10.71 | -0.12 | 0 | -0.06 | 0 | -0.17 | 0 | 0.22 | -86.59 | 1.44 | 11.63 | 2.36 | -41.29 | 91.36 | 5.84 | 957.14 | 824.7 | -860.00 | 0 | 0.03 | 20.33 | 3.52 | -12.87 |
| 2021 (8) | 4.71 | 172.25 | 1.46 | 0 | 2.42 | -46.81 | 1.41 | 0 | 1.14 | 0 | 2.62 | 0 | 1.64 | 0 | 1.29 | 69.74 | 4.02 | 268.81 | 86.32 | 21.41 | 103.51 | 54.54 | -3.80 | 0 | 0.03 | -43.55 | 4.04 | -34.31 |
| 2020 (7) | 1.73 | -33.2 | -2.63 | 0 | 4.56 | 8.22 | -3.93 | 0 | -3.06 | 0 | -4.06 | 0 | -2.06 | 0 | 0.76 | -3.8 | 1.09 | -57.59 | 71.10 | -10.15 | 66.98 | -32.37 | 33.02 | 3345.15 | 0.04 | -19.69 | 6.15 | -0.49 |
| 2019 (6) | 2.59 | 35.6 | -2.13 | 0 | 4.21 | 7.11 | -2.15 | 0 | -1.67 | 0 | -2.38 | 0 | -1.05 | 0 | 0.79 | -12.22 | 2.57 | -52.58 | 79.13 | 0.8 | 99.04 | 0 | 0.96 | -99.69 | 0.06 | -19.22 | 6.18 | 18.39 |
| 2018 (5) | 1.91 | -64.37 | -2.05 | 0 | 3.93 | -9.51 | 0.97 | 0 | 1.06 | 0 | 1.74 | 0 | 1.28 | 0 | 0.90 | 16.88 | 5.42 | 52.25 | 78.50 | -10.75 | -211.11 | 0 | 311.11 | 81.18 | 0.07 | -21.71 | 5.22 | -3.33 |
| 2017 (4) | 5.36 | 16.52 | 1.09 | 0 | 4.35 | -4.07 | -1.51 | 0 | -1.12 | 0 | -1.76 | 0 | -0.44 | 0 | 0.77 | 18.46 | 3.56 | -27.64 | 87.96 | -24.54 | -71.71 | 0 | 171.71 | 108.84 | 0.09 | 0 | 5.40 | -6.41 |
| 2016 (3) | 4.60 | 98.28 | -0.06 | 0 | 4.53 | 33.98 | -0.32 | 0 | -0.43 | 0 | -0.59 | 0 | 0.07 | -86.54 | 0.65 | -23.53 | 4.92 | 18.55 | 116.56 | 14.32 | 20.00 | 0 | 82.22 | -85.69 | 0.00 | 0 | 5.77 | 25.43 |
| 2015 (2) | 2.32 | -30.54 | -1.45 | 0 | 3.38 | 50.31 | 0.30 | -83.78 | 0.28 | -81.94 | 0.43 | -86.73 | 0.52 | -77.29 | 0.85 | -33.07 | 4.15 | -6.53 | 101.96 | 63.63 | -474.51 | 0 | 574.51 | 548.29 | 0.00 | 0 | 4.60 | 34.5 |
| 2014 (1) | 3.34 | 0 | 0.21 | 0 | 2.25 | 21.66 | 1.85 | 0 | 1.55 | 0 | 3.24 | 0 | 2.29 | 0 | 1.27 | -19.62 | 4.44 | -37.02 | 62.31 | -5.35 | 11.38 | -82.25 | 88.62 | 147.49 | 0.00 | 0 | 3.42 | 18.75 |
