- 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) | 23.80 | 48.84 | 146.12 | -19.12 | 0.83 | 48.35 | -21.25 | -265.11 | 52.71 | -21.64 | -268.8 | 51.9 | -0.98 | -266.1 | 56.64 | -0.89 | -264.81 | 55.72 | 0.04 | 0.0 | -20.0 | -11.59 | -142.7 | 66.29 | 10.17 | 14.14 | 6.72 | 86.67 | 160.0 | 4.72 | 6.67 | -97.27 | -61.33 | 34.51 | 7.04 | -0.69 |
| 23Q3 (19) | 15.99 | 703.4 | 1075.74 | -19.28 | 61.59 | 79.49 | 12.87 | 125.28 | 129.67 | 12.82 | 125.08 | 129.55 | 0.59 | 126.7 | 129.35 | 0.54 | 126.87 | 131.4 | 0.04 | 0.0 | 0.0 | 27.14 | 164.94 | 193.94 | 8.91 | -1.44 | -28.26 | -144.44 | -248.82 | -165.34 | 244.44 | 0 | 301.93 | 32.24 | -17.08 | -55.51 |
| 23Q2 (18) | -2.65 | -124.54 | 80.27 | -50.20 | -3.96 | 27.32 | -50.90 | -734.43 | 67.1 | -51.12 | -738.03 | 66.96 | -2.21 | -1005.0 | 80.98 | -2.01 | -1082.35 | 79.24 | 0.04 | 33.33 | -33.33 | -41.79 | -810.71 | 71.51 | 9.04 | -2.8 | -55.27 | 97.06 | -88.35 | 116.52 | -0.00 | 100.0 | -100.0 | 38.88 | -13.43 | -25.03 |
| 23Q1 (17) | 10.80 | 11.69 | 785.25 | -48.29 | -30.44 | 25.78 | -6.10 | 86.43 | -148.22 | -6.10 | 86.44 | -148.22 | -0.20 | 91.15 | -130.3 | -0.17 | 91.54 | -129.82 | 0.03 | -40.0 | -25.0 | 5.88 | 117.1 | -73.54 | 9.30 | -2.41 | -51.99 | 833.33 | 906.94 | 266.67 | -733.33 | -4353.33 | -222.22 | 44.91 | 29.24 | -14.64 |
| 22Q4 (16) | 9.67 | 611.03 | 1957.45 | -37.02 | 60.62 | 20.3 | -44.94 | -3.6 | -186.14 | -44.99 | -3.71 | -186.24 | -2.26 | -12.44 | -157.36 | -2.01 | -16.86 | -162.42 | 0.05 | 25.0 | -16.67 | -34.38 | -19.0 | -158.06 | 9.53 | -23.27 | -39.65 | 82.76 | -62.56 | 194.58 | 17.24 | 114.24 | -90.8 | 34.75 | -52.04 | 80.05 |
| 22Q3 (15) | 1.36 | 110.13 | 113.86 | -94.01 | -36.11 | -18.19 | -43.38 | 71.96 | -170.78 | -43.38 | 71.96 | -170.78 | -2.01 | 82.7 | -158.09 | -1.72 | 82.23 | -165.9 | 0.04 | -33.33 | 0.0 | -28.89 | 80.3 | -140.74 | 12.42 | -38.55 | -59.27 | 221.05 | 393.12 | 270.81 | -121.05 | -319.41 | -153.45 | 72.46 | 39.72 | 41.52 |
| 22Q2 (14) | -13.43 | -1200.82 | -382.14 | -69.07 | -6.16 | -105.5 | -154.73 | -1323.16 | -54.71 | -154.73 | -1323.16 | -54.71 | -11.62 | -1860.61 | -24.41 | -9.68 | -1798.25 | -42.98 | 0.06 | 50.0 | -14.29 | -146.67 | -760.08 | -55.01 | 20.21 | 4.34 | -45.89 | 44.83 | 108.97 | 34.48 | 55.17 | -90.8 | -17.24 | 51.86 | -1.43 | 60.41 |
| 22Q1 (13) | 1.22 | 159.57 | -80.82 | -65.06 | -40.06 | -177.68 | 12.65 | -75.75 | 1000.0 | 12.65 | -75.75 | 1000.0 | 0.66 | -83.25 | 371.43 | 0.57 | -82.3 | 375.0 | 0.04 | -33.33 | -55.56 | 22.22 | -62.47 | 319.25 | 19.37 | 22.67 | -48.37 | -500.00 | -471.43 | 67.74 | 600.00 | 220.0 | -62.5 | 52.61 | 172.59 | 106.72 |
| 21Q4 (12) | 0.47 | 104.79 | -96.16 | -46.45 | 41.6 | -371.1 | 52.17 | -14.88 | 39.45 | 52.17 | -14.88 | 51.83 | 3.94 | 13.87 | -52.42 | 3.22 | 23.37 | -33.06 | 0.06 | 50.0 | -57.14 | 59.21 | -16.5 | 40.47 | 15.79 | -48.21 | -70.13 | -87.50 | 32.39 | -231.77 | 187.50 | -17.21 | 49.67 | 19.30 | -62.3 | 18.26 |
| 21Q3 (11) | -9.81 | -306.09 | -153.61 | -79.54 | -136.66 | -3346.53 | 61.29 | 161.28 | -38.33 | 61.29 | 161.28 | -36.11 | 3.46 | 137.04 | -93.67 | 2.61 | 138.55 | -89.77 | 0.04 | -42.86 | -84.62 | 70.91 | 174.94 | -30.7 | 30.49 | -18.37 | -69.45 | -129.41 | -488.24 | -5147.06 | 226.47 | 239.71 | 132.43 | 51.20 | 58.37 | 614.09 |
| 21Q2 (10) | 4.76 | -25.16 | 521.24 | -33.61 | -43.45 | -112.32 | -100.01 | -8796.52 | -723.13 | -100.01 | -8796.52 | -723.13 | -9.34 | -6771.43 | -49.92 | -6.77 | -5741.67 | -150.74 | 0.07 | -22.22 | -70.83 | -94.62 | -1885.28 | -1146.64 | 37.35 | -0.45 | -73.81 | 33.33 | 102.15 | -74.64 | 66.67 | -95.83 | 312.12 | 32.33 | 27.03 | 0 |
| 21Q1 (9) | 6.36 | -48.04 | 142.75 | -23.43 | -137.63 | 37.92 | 1.15 | -96.93 | 102.18 | 1.15 | -96.65 | 102.14 | 0.14 | -98.31 | 101.31 | 0.12 | -97.51 | 102.26 | 0.09 | -35.71 | -10.0 | 5.30 | -87.43 | 112.68 | 37.52 | -29.03 | -60.31 | -1550.00 | -5777.08 | -2256.52 | 1600.00 | 1177.19 | 5588.89 | 25.45 | 55.94 | 0 |
| 20Q4 (8) | 12.24 | -33.11 | 846.34 | -9.86 | -502.45 | 47.8 | 37.41 | -62.36 | 249.58 | 34.36 | -64.18 | 245.78 | 8.28 | -84.86 | 201.6 | 4.81 | -81.14 | 214.25 | 0.14 | -46.15 | -22.22 | 42.15 | -58.81 | 329.33 | 52.87 | -47.02 | -44.42 | -26.37 | -1128.57 | -134.77 | 125.27 | 28.57 | 419.0 | 16.32 | 127.62 | -30.2 |
| 20Q3 (7) | 18.30 | 1719.47 | 1930.0 | 2.45 | 115.48 | 105.76 | 99.38 | 917.94 | 262.62 | 95.93 | 889.55 | 257.29 | 54.69 | 977.85 | 452.84 | 25.51 | 1044.81 | 390.22 | 0.26 | 8.33 | 73.33 | 102.32 | 1448.09 | 294.6 | 99.80 | -30.01 | 23.12 | 2.56 | -98.05 | -96.32 | 97.44 | 410.02 | 222.08 | 7.17 | 0 | -78.56 |
| 20Q2 (6) | -1.13 | -143.13 | 94.62 | -15.83 | 58.06 | 75.4 | -12.15 | 76.96 | 77.94 | -12.15 | 77.44 | 77.75 | -6.23 | 41.5 | 48.34 | -2.70 | 49.15 | 63.27 | 0.24 | 140.0 | 71.43 | -7.59 | 81.84 | 83.64 | 142.60 | 50.85 | 113.03 | 131.43 | 82.86 | 12.5 | -31.43 | -211.75 | -86.83 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 2.62 | 259.76 | 165.83 | -37.74 | -99.79 | -79.54 | -52.73 | -110.84 | -117.62 | -53.86 | -128.51 | -115.61 | -10.65 | -30.67 | -34.13 | -5.31 | -26.13 | -12.03 | 0.10 | -44.44 | -50.0 | -41.80 | -127.42 | -129.92 | 94.53 | -0.62 | 67.19 | 71.88 | -5.26 | -17.07 | 28.12 | 16.52 | 110.94 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | -1.64 | -64.0 | 0.0 | -18.89 | 55.55 | 0.0 | -25.01 | 59.07 | 0.0 | -23.57 | 61.35 | 0.0 | -8.15 | 47.42 | 0.0 | -4.21 | 52.1 | 0.0 | 0.18 | 20.0 | 0.0 | -18.38 | 65.04 | 0.0 | 95.12 | 17.35 | 0.0 | 75.86 | 8.77 | 0.0 | 24.14 | -20.21 | 0.0 | 23.38 | -30.08 | 0.0 |
| 19Q3 (3) | -1.00 | 95.24 | 0.0 | -42.50 | 33.94 | 0.0 | -61.11 | -10.95 | 0.0 | -60.99 | -11.7 | 0.0 | -15.50 | -28.52 | 0.0 | -8.79 | -19.59 | 0.0 | 0.15 | 7.14 | 0.0 | -52.58 | -13.34 | 0.0 | 81.06 | 21.09 | 0.0 | 69.75 | -40.3 | 0.0 | 30.25 | 279.83 | 0.0 | 33.44 | -7.01 | 0.0 |
| 19Q2 (2) | -20.99 | -427.39 | 0.0 | -64.34 | -206.09 | 0.0 | -55.08 | -127.32 | 0.0 | -54.60 | -118.57 | 0.0 | -12.06 | -51.89 | 0.0 | -7.35 | -55.06 | 0.0 | 0.14 | -30.0 | 0.0 | -46.39 | -155.17 | 0.0 | 66.94 | 18.39 | 0.0 | 116.82 | 34.8 | 0.0 | -16.82 | -226.17 | 0.0 | 35.96 | 90.06 | 0.0 |
| 19Q1 (1) | -3.98 | 0.0 | 0.0 | -21.02 | 0.0 | 0.0 | -24.23 | 0.0 | 0.0 | -24.98 | 0.0 | 0.0 | -7.94 | 0.0 | 0.0 | -4.74 | 0.0 | 0.0 | 0.20 | 0.0 | 0.0 | -18.18 | 0.0 | 0.0 | 56.54 | 0.0 | 0.0 | 86.67 | 0.0 | 0.0 | 13.33 | 0.0 | 0.0 | 18.92 | 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) | 12.20 | 0 | -33.07 | 0 | 8.17 | -7.39 | -16.65 | 0 | -16.82 | 0 | -2.80 | 0 | -2.52 | 0 | 0.15 | -6.25 | -5.45 | 0 | 10.17 | 6.72 | 197.67 | 102.84 | -97.67 | 0 | 0.00 | 0 | 37.11 | -27.62 |
| 2022 (9) | -1.07 | 0 | -64.17 | 0 | 8.82 | 57.06 | -66.08 | 0 | -66.10 | 0 | -12.05 | 0 | -10.69 | 0 | 0.16 | -38.46 | -56.30 | 0 | 9.53 | -39.65 | 97.45 | -86.87 | 3.18 | 0 | 0.00 | 0 | 51.27 | 71.41 |
| 2021 (8) | 2.19 | -78.08 | -39.67 | 0 | 5.62 | 56.3 | -5.21 | 0 | -5.21 | 0 | -1.79 | 0 | -1.24 | 0 | 0.26 | -65.79 | 1.12 | -97.41 | 15.79 | -70.13 | 742.11 | 0 | -647.37 | 0 | 0.00 | 0 | 29.91 | 124.89 |
| 2020 (7) | 9.99 | 0 | -9.69 | 0 | 3.59 | -38.1 | 38.67 | 0 | 36.49 | 0 | 46.82 | 0 | 28.19 | 0 | 0.76 | 20.63 | 43.32 | 0 | 52.87 | -44.42 | -25.00 | 0 | 125.00 | 968.45 | 0.00 | 0 | 13.30 | -50.06 |
| 2019 (6) | -6.32 | 0 | -34.01 | 0 | 5.81 | 3.39 | -38.57 | 0 | -38.33 | 0 | -43.12 | 0 | -23.62 | 0 | 0.63 | -4.55 | -31.40 | 0 | 95.12 | 39.7 | 88.02 | -12.77 | 11.70 | 0 | 0.00 | 0 | 26.63 | 8.03 |
| 2018 (5) | -6.58 | 0 | -25.93 | 0 | 5.62 | -22.47 | -25.63 | 0 | -25.30 | 0 | -27.69 | 0 | -16.18 | 0 | 0.66 | 20.0 | -18.88 | 0 | 68.09 | 4.56 | 100.91 | 31.85 | -1.22 | 0 | 0.00 | 0 | 24.65 | 11.49 |
| 2017 (4) | -5.75 | 0 | -27.47 | 0 | 7.24 | -27.13 | -35.87 | 0 | -37.02 | 0 | -30.20 | 0 | -20.08 | 0 | 0.55 | 19.57 | -26.54 | 0 | 65.12 | 78.75 | 76.54 | -16.78 | 23.46 | 192.18 | 0.00 | 0 | 22.11 | -35.61 |
| 2016 (3) | -4.91 | 0 | -29.92 | 0 | 9.94 | 12.39 | -32.52 | 0 | -32.44 | 0 | -18.97 | 0 | -14.82 | 0 | 0.46 | -17.86 | -21.74 | 0 | 36.43 | 73.56 | 91.97 | -9.99 | 8.03 | 0 | 0.00 | 0 | 34.34 | 52.01 |
| 2015 (2) | -8.10 | 0 | -21.52 | 0 | 8.85 | 97.21 | -21.08 | 0 | -20.60 | 0 | -14.51 | 0 | -11.45 | 0 | 0.56 | -47.66 | -11.43 | 0 | 20.99 | -32.42 | 102.18 | -59.71 | -2.18 | 0 | 0.00 | 0 | 22.59 | 87.0 |
| 2014 (1) | 2.54 | 0 | -4.54 | 0 | 4.49 | 38.63 | -1.79 | 0 | -2.04 | 0 | -2.96 | 0 | -2.11 | 0 | 1.07 | -26.21 | 3.34 | -24.43 | 31.06 | -21.23 | 253.62 | 0 | -153.62 | 0 | 0.00 | 0 | 12.08 | -5.4 |
