- 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) | -0.50 | -139.37 | -105.46 | -7.30 | -45.71 | -492.47 | -9.24 | -268.92 | 46.9 | -10.35 | -307.0 | 36.39 | -4.90 | -317.78 | 39.43 | -2.05 | -250.74 | 38.81 | 0.23 | 9.52 | 4.55 | -5.53 | -159.27 | 60.07 | 106.92 | -3.23 | -18.3 | 77.27 | 184.3 | 795.45 | 22.73 | -88.64 | -79.55 | 7.78 | -1.89 | 5.14 |
| 23Q3 (19) | 1.27 | -75.39 | 629.17 | -5.01 | -215.09 | 19.19 | 5.47 | 172.26 | 197.5 | 5.00 | 161.88 | 169.83 | 2.25 | 162.33 | 175.0 | 1.36 | 203.03 | 222.52 | 0.21 | 5.0 | 10.53 | 9.33 | 359.17 | 636.21 | 110.49 | -6.19 | -2.6 | -91.67 | -489.58 | -185.12 | 200.00 | 161.54 | 2700.0 | 7.93 | 4.62 | 11.38 |
| 23Q2 (18) | 5.16 | -31.66 | -37.38 | -1.59 | -1887.5 | -167.95 | -7.57 | -457.08 | 0.39 | -8.08 | -398.15 | 25.67 | -3.61 | -425.23 | 13.43 | -1.32 | -273.68 | 28.65 | 0.20 | 11.11 | 5.26 | -3.60 | -157.05 | 18.37 | 117.78 | -4.83 | -2.27 | 23.53 | 0 | 180.0 | 76.47 | -38.82 | -43.48 | 7.58 | -6.88 | 5.28 |
| 23Q1 (17) | 7.55 | -17.49 | 11.85 | -0.08 | -104.3 | -104.37 | 2.12 | 112.18 | -58.19 | 2.71 | 116.66 | -47.38 | 1.11 | 113.72 | -37.64 | 0.76 | 122.69 | -30.28 | 0.18 | -18.18 | 0.0 | 6.31 | 145.56 | -26.37 | 123.76 | -5.43 | 32.79 | 0.00 | 100.0 | -100.0 | 125.00 | 12.5 | 96.43 | 8.14 | 10.0 | 33.44 |
| 22Q4 (16) | 9.15 | 3912.5 | 37.59 | 1.86 | 130.0 | 214.11 | -17.40 | -210.16 | -581.99 | -16.27 | -127.23 | -512.94 | -8.09 | -169.67 | -618.59 | -3.35 | -201.8 | -435.0 | 0.22 | 15.79 | 10.0 | -13.85 | -695.98 | -312.42 | 130.87 | 15.36 | 30.94 | -11.11 | -110.32 | 77.78 | 111.11 | 1544.44 | -25.93 | 7.40 | 3.93 | -8.42 |
| 22Q3 (15) | -0.24 | -102.91 | -102.48 | -6.20 | -364.96 | -351.01 | -5.61 | 26.18 | -1903.57 | -7.16 | 34.13 | -567.97 | -3.00 | 28.06 | -541.18 | -1.11 | 40.0 | -301.82 | 0.19 | 0.0 | -17.39 | -1.74 | 60.54 | -163.04 | 113.44 | -5.87 | 29.48 | 107.69 | 466.15 | 117.95 | -7.69 | -105.69 | -101.1 | 7.12 | -1.11 | -6.32 |
| 22Q2 (14) | 8.24 | 22.07 | -25.02 | 2.34 | 27.87 | -50.63 | -7.60 | -249.9 | -169.47 | -10.87 | -311.07 | -202.26 | -4.17 | -334.27 | -182.57 | -1.85 | -269.72 | -163.79 | 0.19 | 5.56 | -24.0 | -4.41 | -151.46 | -131.84 | 120.52 | 29.31 | 27.66 | -29.41 | -180.88 | -168.63 | 135.29 | 112.61 | 136.76 | 7.20 | 18.03 | 32.11 |
| 22Q1 (13) | 6.75 | 1.5 | -45.34 | 1.83 | 212.27 | -60.73 | 5.07 | 40.44 | -83.91 | 5.15 | 30.71 | -83.74 | 1.78 | 14.1 | -86.92 | 1.09 | 9.0 | -84.58 | 0.18 | -10.0 | -18.18 | 8.57 | 31.44 | -75.43 | 93.20 | -6.75 | 14.02 | 36.36 | 172.73 | 147.27 | 63.64 | -57.58 | -25.39 | 6.10 | -24.5 | 14.23 |
| 21Q4 (12) | 6.65 | -31.37 | -31.3 | -1.63 | -165.99 | -303.75 | 3.61 | 1389.29 | 195.9 | 3.94 | 157.52 | 103.09 | 1.56 | 129.41 | 79.31 | 1.00 | 81.82 | 53.85 | 0.20 | -13.04 | -16.67 | 6.52 | 136.23 | 52.69 | 99.95 | 14.09 | -14.38 | -50.00 | 91.67 | -175.0 | 150.00 | -78.57 | 350.0 | 8.08 | 6.32 | 49.91 |
| 21Q3 (11) | 9.69 | -11.83 | -19.18 | 2.47 | -47.89 | -62.86 | -0.28 | -102.56 | -104.76 | 1.53 | -85.61 | -73.53 | 0.68 | -86.53 | -68.66 | 0.55 | -81.03 | -65.84 | 0.23 | -8.0 | -11.54 | 2.76 | -80.07 | -69.2 | 87.61 | -7.2 | 44.52 | -600.00 | -1500.0 | -614.29 | 700.00 | 1125.0 | 4300.0 | 7.60 | 39.45 | 76.74 |
| 21Q2 (10) | 10.99 | -11.01 | 66.01 | 4.74 | 1.72 | 3060.0 | 10.94 | -65.28 | 392.79 | 10.63 | -66.45 | 364.19 | 5.05 | -62.89 | 631.88 | 2.90 | -58.98 | 367.74 | 0.25 | 13.64 | 8.7 | 13.85 | -60.29 | 132.77 | 94.41 | 15.5 | 192.2 | 42.86 | 191.43 | 0 | 57.14 | -33.0 | -23.81 | 5.45 | 2.06 | 0 |
| 21Q1 (9) | 12.35 | 27.58 | 1227.96 | 4.66 | 482.5 | 162.63 | 31.51 | 2482.79 | 387.24 | 31.68 | 1532.99 | 392.25 | 13.61 | 1464.37 | 607.84 | 7.07 | 987.69 | 468.23 | 0.22 | -8.33 | 22.22 | 34.88 | 716.86 | 642.46 | 81.74 | -29.98 | 173.2 | 14.71 | -77.94 | -77.94 | 85.29 | 155.88 | 155.88 | 5.34 | -0.93 | 0 |
| 20Q4 (8) | 9.68 | -19.27 | 49.38 | 0.80 | -87.97 | 142.42 | 1.22 | -79.25 | 448.57 | 1.94 | -66.44 | 818.52 | 0.87 | -59.91 | 1066.67 | 0.65 | -59.63 | 6400.0 | 0.24 | -7.69 | 0.0 | 4.27 | -52.34 | 41.39 | 116.74 | 92.58 | 206.08 | 66.67 | -42.86 | 166.67 | 33.33 | 300.0 | -66.67 | 5.39 | 25.35 | 4.86 |
| 20Q3 (7) | 11.99 | 81.12 | 195.32 | 6.65 | 4333.33 | 335.82 | 5.88 | 164.86 | 204.63 | 5.78 | 152.4 | 210.1 | 2.17 | 214.49 | 217.93 | 1.61 | 159.68 | 243.75 | 0.26 | 13.04 | 13.04 | 8.96 | 50.59 | 559.49 | 60.62 | 87.62 | 34.59 | 116.67 | 0 | 133.33 | -16.67 | -122.22 | -133.33 | 4.30 | 0 | -13.31 |
| 20Q2 (6) | 6.62 | 611.83 | 19.93 | 0.15 | 102.02 | 116.85 | 2.22 | 120.24 | 476.27 | 2.29 | 121.13 | 2762.5 | 0.69 | 125.75 | 2200.0 | 0.62 | 132.29 | 376.92 | 0.23 | 27.78 | -8.0 | 5.95 | 192.53 | 100.34 | 32.31 | 7.99 | -43.98 | 0.00 | -100.0 | -100.0 | 75.00 | 125.0 | 175.0 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 0.93 | -85.65 | -79.87 | -7.44 | -2354.55 | -659.18 | -10.97 | -3034.29 | -7735.71 | -10.84 | -3914.81 | -3111.11 | -2.68 | -2877.78 | -1775.0 | -1.92 | -19300.0 | -1014.29 | 0.18 | -25.0 | -33.33 | -6.43 | -312.91 | -308.09 | 29.92 | -21.55 | -50.92 | 66.67 | 166.67 | 0 | 33.33 | -66.67 | 0 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 6.48 | 59.61 | 0.0 | 0.33 | 111.7 | 0.0 | -0.35 | 93.77 | 0.0 | -0.27 | 94.86 | 0.0 | -0.09 | 95.11 | 0.0 | 0.01 | 100.89 | 0.0 | 0.24 | 4.35 | 0.0 | 3.02 | 254.87 | 0.0 | 38.14 | -15.32 | 0.0 | -100.00 | -300.0 | 0.0 | 100.00 | 100.0 | 0.0 | 5.14 | 3.63 | 0.0 |
| 19Q3 (3) | 4.06 | -26.45 | 0.0 | -2.82 | -216.85 | 0.0 | -5.62 | -852.54 | 0.0 | -5.25 | -6662.5 | 0.0 | -1.84 | -6233.33 | 0.0 | -1.12 | -961.54 | 0.0 | 0.23 | -8.0 | 0.0 | -1.95 | -165.66 | 0.0 | 45.04 | -21.91 | 0.0 | 50.00 | -75.0 | 0.0 | 50.00 | 150.0 | 0.0 | 4.96 | -8.15 | 0.0 |
| 19Q2 (2) | 5.52 | 19.48 | 0.0 | -0.89 | 9.18 | 0.0 | -0.59 | -321.43 | 0.0 | 0.08 | -77.78 | 0.0 | 0.03 | -81.25 | 0.0 | 0.13 | -38.1 | 0.0 | 0.25 | -7.41 | 0.0 | 2.97 | -3.88 | 0.0 | 57.68 | -5.38 | 0.0 | 200.00 | 0 | 0.0 | -100.00 | 0 | 0.0 | 5.40 | 33.33 | 0.0 |
| 19Q1 (1) | 4.62 | 0.0 | 0.0 | -0.98 | 0.0 | 0.0 | -0.14 | 0.0 | 0.0 | 0.36 | 0.0 | 0.0 | 0.16 | 0.0 | 0.0 | 0.21 | 0.0 | 0.0 | 0.27 | 0.0 | 0.0 | 3.09 | 0.0 | 0.0 | 60.96 | 0.0 | 0.0 | 0.00 | 0.0 | 0.0 | 0.00 | 0.0 | 0.0 | 4.05 | 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) | 3.24 | -46.45 | -3.61 | 0 | 2.25 | 10.01 | -2.46 | 0 | -2.86 | 0 | -5.17 | 0 | -1.15 | 0 | 0.83 | 3.75 | 1.58 | 0 | 106.92 | -18.3 | 145.45 | 0 | -45.45 | 0 | 0.00 | 0 | 7.85 | 12.3 |
| 2022 (9) | 6.05 | -38.95 | -0.03 | 0 | 2.05 | 9.2 | -6.98 | 0 | -7.83 | 0 | -13.35 | 0 | -5.29 | 0 | 0.80 | -9.09 | -3.56 | 0 | 130.87 | 30.94 | -0.00 | 0 | 98.46 | 29.62 | 0.00 | 0 | 6.99 | 5.59 |
| 2021 (8) | 9.91 | 23.41 | 2.59 | 236.36 | 1.88 | -32.61 | 10.84 | 2112.24 | 11.35 | 1454.79 | 20.63 | 1846.23 | 10.72 | 911.32 | 0.88 | 6.02 | 13.87 | 248.49 | 99.95 | -14.38 | 24.04 | -83.97 | 75.96 | 0 | 0.00 | 0 | 6.62 | 24.44 |
| 2020 (7) | 8.03 | 56.23 | 0.77 | 0 | 2.79 | -7.16 | 0.49 | 0 | 0.73 | 0 | 1.06 | 0 | 1.06 | 0 | 0.83 | -17.82 | 3.98 | 110.58 | 116.74 | 206.08 | 150.00 | 110.0 | -50.00 | 0 | 0.00 | 0 | 5.32 | 9.69 |
| 2019 (6) | 5.14 | 25.98 | -1.09 | 0 | 3.00 | 67.25 | -1.55 | 0 | -1.13 | 0 | -1.74 | 0 | -0.73 | 0 | 1.01 | -15.13 | 1.89 | 80.0 | 38.14 | -42.82 | 71.43 | 126.19 | 28.57 | -58.24 | 0.00 | 0 | 4.85 | 19.46 |
| 2018 (5) | 4.08 | -31.2 | -0.46 | 0 | 1.79 | -1.11 | -1.45 | 0 | -1.43 | 0 | -3.06 | 0 | -1.05 | 0 | 1.19 | 6.25 | 1.05 | -76.67 | 66.70 | -27.34 | 31.58 | -1.75 | 68.42 | 0.83 | 0.00 | 0 | 4.06 | -11.55 |
| 2017 (4) | 5.93 | 16.27 | 0.75 | 0 | 1.81 | -22.58 | 2.23 | 364.58 | 2.42 | 404.17 | 4.80 | 566.67 | 3.17 | 296.25 | 1.12 | 20.43 | 4.50 | 36.36 | 91.80 | 49.58 | 32.14 | 0 | 67.86 | -81.9 | 0.00 | 0 | 4.59 | -9.65 |
| 2016 (3) | 5.10 | 347.37 | -1.17 | 0 | 2.34 | 11.24 | 0.48 | 0 | 0.48 | 0 | 0.72 | 0 | 0.80 | 0 | 0.93 | -7.0 | 3.30 | 0 | 61.37 | -0.29 | -275.00 | 0 | 375.00 | 1062.5 | 0.00 | 0 | 5.08 | -12.86 |
| 2015 (2) | 1.14 | -67.05 | -5.82 | 0 | 2.11 | 17.58 | -8.53 | 0 | -8.53 | 0 | -13.97 | 0 | -8.22 | 0 | 1.00 | -4.76 | -5.95 | 0 | 61.55 | -5.58 | 68.82 | -13.34 | 32.26 | 56.68 | 0.00 | 0 | 5.83 | 15.67 |
| 2014 (1) | 3.46 | 0 | -2.07 | 0 | 1.79 | 31.56 | -2.63 | 0 | -2.64 | 0 | -5.91 | 0 | -2.18 | 0 | 1.05 | -30.0 | -0.16 | 0 | 65.19 | -65.9 | 79.41 | 0.13 | 20.59 | -8.14 | 0.00 | 0 | 5.04 | 11.75 |
