- 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) | 6.40 | 181.12 | 38.23 | -1.78 | 90.21 | -56.14 | -9.37 | 41.91 | -112.47 | -11.12 | 25.02 | -228.99 | -3.06 | 12.82 | -209.09 | -1.64 | 17.59 | -248.94 | 0.16 | 14.29 | -5.88 | 2.55 | 195.15 | -56.19 | 76.67 | 7.67 | 2.93 | 18.18 | -83.92 | -29.55 | 81.82 | 724.79 | 10.28 | 17.71 | -11.01 | 8.38 |
| 23Q3 (19) | -7.89 | 29.17 | -215.69 | -18.18 | 11.36 | -524.74 | -16.13 | 16.47 | -1037.79 | -14.83 | 7.54 | -1460.55 | -3.51 | -0.57 | -1310.34 | -1.99 | 1.0 | -865.38 | 0.14 | 7.69 | -12.5 | -2.68 | 48.46 | -121.3 | 71.21 | 6.86 | -1.3 | 113.10 | 7.55 | 165.48 | -13.10 | -111.71 | -104.8 | 19.90 | -15.21 | 16.17 |
| 23Q2 (18) | -11.14 | -2042.31 | -191.61 | -20.51 | -126.63 | -523.76 | -19.31 | -84.43 | -360.59 | -16.04 | -67.96 | -361.66 | -3.49 | -50.43 | -258.64 | -2.01 | -59.52 | -248.89 | 0.13 | -7.14 | -38.1 | -5.20 | -372.25 | -133.18 | 66.64 | 2.59 | -6.25 | 105.15 | 21.33 | 61.58 | -6.19 | -146.39 | -117.71 | 23.47 | 19.56 | 71.94 |
| 23Q1 (17) | -0.52 | -111.23 | -105.55 | -9.05 | -693.86 | -495.2 | -10.47 | -137.41 | -398.29 | -9.55 | -182.54 | -396.58 | -2.32 | -134.34 | -312.84 | -1.26 | -168.09 | -282.61 | 0.14 | -17.65 | -26.32 | 1.91 | -67.18 | -84.47 | 64.96 | -12.79 | -11.88 | 86.67 | 235.83 | 34.81 | 13.33 | -82.03 | -62.67 | 19.63 | 20.13 | 40.52 |
| 22Q4 (16) | 4.63 | -32.11 | -62.36 | -1.14 | 60.82 | -121.07 | -4.41 | -356.4 | -189.82 | -3.38 | -410.09 | -172.69 | -0.99 | -441.38 | -158.58 | -0.47 | -280.77 | -145.63 | 0.17 | 6.25 | -19.05 | 5.82 | -53.74 | -56.5 | 74.49 | 3.24 | -1.3 | 25.81 | 114.94 | -76.49 | 74.19 | -72.8 | 860.48 | 16.34 | -4.61 | 21.49 |
| 22Q3 (15) | 6.82 | -43.91 | 315.82 | -2.91 | -160.12 | 75.95 | 1.72 | -76.79 | 113.98 | 1.09 | -82.22 | 107.8 | 0.29 | -86.82 | 108.17 | 0.26 | -80.74 | 113.07 | 0.16 | -23.81 | 6.67 | 12.58 | -19.72 | 3912.12 | 72.15 | 1.51 | -3.01 | -172.73 | -365.41 | -275.09 | 272.73 | 680.99 | 20081.82 | 17.13 | 25.49 | -6.24 |
| 22Q2 (14) | 12.16 | 29.78 | 305.33 | 4.84 | 111.35 | 195.65 | 7.41 | 111.11 | 191.73 | 6.13 | 90.37 | 182.49 | 2.20 | 101.83 | 260.66 | 1.35 | 95.65 | 237.5 | 0.21 | 10.53 | 31.25 | 15.67 | 27.4 | 20.82 | 71.08 | -3.58 | -0.88 | 65.08 | 1.23 | 131.61 | 34.92 | -2.22 | -88.58 | 13.65 | -2.29 | -17.67 |
| 22Q1 (13) | 9.37 | -23.82 | 190.09 | 2.29 | -57.67 | 149.14 | 3.51 | -28.51 | 166.23 | 3.22 | -30.75 | 158.55 | 1.09 | -35.5 | 166.87 | 0.69 | -33.01 | 185.19 | 0.19 | -9.52 | 18.75 | 12.30 | -8.07 | 179.55 | 73.72 | -2.32 | -10.04 | 64.29 | -41.43 | -26.26 | 35.71 | 466.07 | 178.57 | 13.97 | 3.87 | -6.43 |
| 21Q4 (12) | 12.30 | 489.24 | 422.83 | 5.41 | 144.71 | 146.72 | 4.91 | 139.92 | 147.12 | 4.65 | 133.26 | 156.02 | 1.69 | 147.61 | 185.79 | 1.03 | 151.76 | 200.98 | 0.21 | 40.0 | 61.54 | 13.38 | 4154.55 | 2023.81 | 75.47 | 1.45 | -19.48 | 109.76 | 11.26 | -0.77 | -9.76 | -821.95 | 8.01 | 13.45 | -26.38 | -16.09 |
| 21Q3 (11) | -3.16 | -205.33 | -149.53 | -12.10 | -139.13 | -254.84 | -12.30 | -584.25 | -178.91 | -13.98 | -744.24 | -321.08 | -3.55 | -681.97 | -393.06 | -1.99 | -597.5 | -452.78 | 0.15 | -6.25 | 15.38 | -0.33 | -102.54 | -104.65 | 74.39 | 3.74 | 1.06 | 98.65 | 147.92 | 26.83 | 1.35 | -99.56 | -93.92 | 18.27 | 10.19 | 2.64 |
| 21Q2 (10) | 3.00 | -7.12 | -64.87 | -5.06 | -8.58 | 74.73 | 2.54 | 147.92 | -97.13 | 2.17 | 139.45 | -97.62 | 0.61 | 137.42 | -97.43 | 0.40 | 149.38 | -97.05 | 0.16 | 0.0 | 6.67 | 12.97 | 194.77 | -86.93 | 71.71 | -12.5 | 3.75 | -205.88 | -336.16 | -809.57 | 305.88 | 2285.88 | 149.77 | 16.58 | 11.05 | 0 |
| 21Q1 (9) | 3.23 | 184.78 | -59.78 | -4.66 | 59.76 | -149.2 | -5.30 | 49.14 | -192.82 | -5.50 | 33.73 | -279.31 | -1.63 | 17.26 | -207.55 | -0.81 | 20.59 | -326.32 | 0.16 | 23.08 | -20.0 | 4.40 | 598.41 | -37.05 | 81.95 | -12.57 | -3.14 | 87.18 | -21.18 | -18.27 | 12.82 | 220.88 | 0 | 14.93 | -6.86 | 0 |
| 20Q4 (8) | -3.81 | -159.72 | -141.41 | -11.58 | -239.59 | -1478.57 | -10.42 | -136.28 | -608.84 | -8.30 | -150.0 | -609.4 | -1.97 | -173.61 | -380.49 | -1.02 | -183.33 | -684.62 | 0.13 | 0.0 | -31.58 | 0.63 | -91.11 | -91.3 | 93.73 | 27.33 | 8.46 | 110.61 | 42.21 | 289.61 | -10.61 | -147.73 | -107.07 | 16.03 | -9.94 | 0 |
| 20Q3 (7) | 6.38 | -25.29 | -13.43 | -3.41 | 82.97 | -287.5 | -4.41 | -104.99 | -120.5 | -3.32 | -103.64 | -104.94 | -0.72 | -103.03 | -24.14 | -0.36 | -102.65 | -56.52 | 0.13 | -13.33 | -35.0 | 7.09 | -92.86 | 9.08 | 73.61 | 6.5 | -8.01 | 77.78 | 443.62 | 77.78 | 22.22 | -81.85 | -60.49 | 17.80 | 0 | 19.3 |
| 20Q2 (6) | 8.54 | 6.35 | 27.84 | -20.02 | -970.59 | -1000.0 | 88.45 | 4986.74 | 6651.85 | 91.12 | 6384.14 | 8383.64 | 23.77 | 4584.91 | 6524.32 | 13.58 | 7247.37 | 12445.45 | 0.15 | -25.0 | -21.05 | 99.25 | 1319.89 | 1234.01 | 69.12 | -18.31 | -12.73 | -22.64 | -121.22 | -116.17 | 122.47 | 0 | 406.17 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 8.03 | -12.72 | -28.88 | -1.87 | -322.62 | -150.82 | -1.81 | -23.13 | -153.08 | -1.45 | -23.93 | -151.6 | -0.53 | -29.27 | -150.0 | -0.19 | -46.15 | -127.94 | 0.20 | 5.26 | -4.76 | 6.99 | -3.45 | -36.63 | 84.61 | -2.09 | 6.67 | 106.67 | 282.86 | -3.33 | -0.00 | -100.0 | 100.0 | 0.00 | 0 | -100.0 |
| 19Q4 (4) | 9.20 | 24.83 | 0.0 | 0.84 | 195.45 | 0.0 | -1.47 | 26.5 | 0.0 | -1.17 | 27.78 | 0.0 | -0.41 | 29.31 | 0.0 | -0.13 | 43.48 | 0.0 | 0.19 | -5.0 | 0.0 | 7.24 | 11.38 | 0.0 | 86.42 | 8.0 | 0.0 | -58.33 | -233.33 | 0.0 | 150.00 | 166.67 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 7.37 | 10.33 | 0.0 | -0.88 | 51.65 | 0.0 | -2.00 | -48.15 | 0.0 | -1.62 | -47.27 | 0.0 | -0.58 | -56.76 | 0.0 | -0.23 | -109.09 | 0.0 | 0.20 | 5.26 | 0.0 | 6.50 | -12.63 | 0.0 | 80.02 | 1.04 | 0.0 | 43.75 | -68.75 | 0.0 | 56.25 | 240.62 | 0.0 | 14.92 | -10.55 | 0.0 |
| 19Q2 (2) | 6.68 | -40.83 | 0.0 | -1.82 | -149.46 | 0.0 | -1.35 | -139.59 | 0.0 | -1.10 | -139.15 | 0.0 | -0.37 | -134.91 | 0.0 | -0.11 | -116.18 | 0.0 | 0.19 | -9.52 | 0.0 | 7.44 | -32.55 | 0.0 | 79.20 | -0.15 | 0.0 | 140.00 | 26.87 | 0.0 | -40.00 | -480.0 | 0.0 | 16.68 | 8.59 | 0.0 |
| 19Q1 (1) | 11.29 | 0.0 | 0.0 | 3.68 | 0.0 | 0.0 | 3.41 | 0.0 | 0.0 | 2.81 | 0.0 | 0.0 | 1.06 | 0.0 | 0.0 | 0.68 | 0.0 | 0.0 | 0.21 | 0.0 | 0.0 | 11.03 | 0.0 | 0.0 | 79.32 | 0.0 | 0.0 | 110.34 | 0.0 | 0.0 | -6.90 | 0.0 | 0.0 | 15.36 | 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) | -2.85 | 0 | -11.90 | 0 | 11.57 | 34.46 | -13.55 | 0 | -12.72 | 0 | -12.34 | 0 | -6.62 | 0 | 0.55 | -24.66 | -0.64 | 0 | 76.67 | 2.93 | 87.84 | 88.98 | 12.16 | -77.86 | 0.05 | -85.02 | 20.06 | 32.67 |
| 2022 (9) | 8.50 | 89.31 | 1.08 | 0 | 8.61 | -6.69 | 2.38 | 0 | 2.04 | 0 | 2.59 | 0 | 1.81 | 0 | 0.73 | 14.06 | 11.80 | 45.68 | 74.49 | -1.3 | 46.48 | -73.86 | 54.93 | 0 | 0.36 | 4.76 | 15.12 | -3.08 |
| 2021 (8) | 4.49 | -11.26 | -3.37 | 0 | 9.22 | -0.8 | -1.89 | 0 | -2.46 | 0 | -2.91 | 0 | -1.35 | 0 | 0.64 | 4.92 | 8.10 | -71.0 | 75.47 | -19.48 | 177.78 | 0 | -77.78 | 0 | 0.34 | 9.49 | 15.60 | -8.77 |
| 2020 (7) | 5.06 | -41.84 | -8.86 | 0 | 9.30 | 26.75 | 17.56 | 0 | 19.05 | 0 | 22.05 | 0 | 11.88 | 5557.14 | 0.61 | -21.79 | 27.93 | 243.12 | 93.73 | 8.46 | -50.52 | 0 | 150.52 | -47.9 | 0.31 | 20.62 | 17.10 | 12.2 |
| 2019 (6) | 8.70 | 19.67 | 0.53 | 0 | 7.34 | 15.12 | -0.28 | 0 | -0.21 | 0 | -0.30 | 0 | 0.21 | -70.83 | 0.78 | -6.02 | 8.14 | 5.3 | 86.42 | 7.47 | -188.89 | 0 | 288.89 | -27.78 | 0.26 | -3.32 | 15.24 | -2.12 |
| 2018 (5) | 7.27 | -35.03 | -1.05 | 0 | 6.37 | -5.54 | 0.34 | -83.0 | 0.43 | -78.82 | 0.64 | -77.78 | 0.72 | -62.69 | 0.83 | 3.75 | 7.73 | -20.39 | 80.41 | 0.56 | -300.00 | 0 | 400.00 | 0 | 0.27 | 0 | 15.57 | -4.54 |
| 2017 (4) | 11.19 | -40.82 | 3.23 | -65.75 | 6.75 | 1.89 | 2.00 | -78.26 | 2.03 | -74.56 | 2.88 | -76.72 | 1.93 | -72.39 | 0.80 | -3.61 | 9.71 | -42.06 | 79.96 | 6.41 | 161.76 | 57.92 | -61.76 | 0 | 0.00 | 0 | 16.31 | 8.95 |
| 2016 (3) | 18.91 | 29.97 | 9.43 | 118.79 | 6.62 | 21.22 | 9.20 | 88.91 | 7.98 | 83.45 | 12.37 | 2.57 | 6.99 | 2.04 | 0.83 | -41.55 | 16.76 | 52.09 | 75.14 | -25.25 | 102.43 | 15.89 | -2.43 | 0 | 0.00 | 0 | 14.97 | 9.51 |
| 2015 (2) | 14.55 | 75.51 | 4.31 | 0 | 5.46 | 75.92 | 4.87 | 914.58 | 4.35 | 806.25 | 12.06 | 1094.06 | 6.85 | 565.05 | 1.42 | 27.93 | 11.02 | 152.17 | 100.52 | 24.76 | 88.38 | 0 | 11.62 | -97.73 | 0.00 | 0 | 13.67 | 52.06 |
| 2014 (1) | 8.29 | 0 | -2.09 | 0 | 3.11 | -8.5 | 0.48 | 0 | 0.48 | 0 | 1.01 | 0 | 1.03 | 0 | 1.11 | 0.0 | 4.37 | -8.96 | 80.57 | -17.73 | -412.50 | 0 | 512.50 | -56.57 | 0.00 | 0 | 8.99 | 12.23 |
