- 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) | -11.05 | -481.58 | -5.64 | -10.54 | -166.16 | 23.07 | -9.46 | 43.45 | 35.03 | -9.55 | 43.46 | 34.81 | -6.84 | 51.07 | 38.87 | -1.00 | 54.75 | 57.81 | 0.12 | -14.29 | -29.41 | -2.48 | 78.42 | 77.27 | 489.01 | -3.03 | 30.32 | 111.42 | 370.48 | 18.41 | -11.42 | -114.96 | -293.22 | 21.51 | 24.26 | 86.56 |
| 23Q3 (19) | -1.90 | 69.84 | 93.91 | -3.96 | 58.01 | 88.53 | -16.73 | 2.16 | 44.71 | -16.89 | 1.75 | 44.26 | -13.98 | -11.13 | -23.61 | -2.21 | -6.25 | 21.63 | 0.14 | 7.69 | 40.0 | -11.49 | 6.05 | 51.78 | 504.31 | 1.6 | 52.41 | 23.68 | -57.04 | -79.25 | 76.32 | 70.07 | 642.57 | 17.31 | 7.25 | -19.07 |
| 23Q2 (18) | -6.30 | 75.09 | 67.26 | -9.43 | 66.41 | 57.88 | -17.10 | 42.98 | 18.53 | -17.19 | 42.66 | 18.1 | -12.58 | 34.1 | -79.2 | -2.08 | 41.74 | -5.58 | 0.13 | 8.33 | 30.0 | -12.23 | 50.84 | 16.86 | 496.38 | 5.26 | 94.57 | 55.13 | -41.12 | -48.32 | 44.87 | 603.99 | 773.88 | 16.14 | 0.81 | -25.14 |
| 23Q1 (17) | -25.29 | -141.78 | -1104.29 | -28.07 | -104.89 | -536.51 | -29.99 | -105.98 | -719.4 | -29.98 | -104.64 | -728.18 | -19.09 | -70.6 | -1147.71 | -3.57 | -50.63 | -770.73 | 0.12 | -29.41 | -7.69 | -24.88 | -128.05 | -2775.27 | 471.58 | 25.67 | 98.44 | 93.63 | -0.5 | -22.04 | 6.37 | 7.89 | 130.96 | 16.01 | 38.86 | -0.93 |
| 22Q4 (16) | -10.46 | 66.45 | -344.96 | -13.70 | 60.31 | -1812.5 | -14.56 | 51.88 | -72700.0 | -14.65 | 51.65 | -36525.0 | -11.19 | 1.06 | -111800.0 | -2.37 | 15.96 | -4840.0 | 0.17 | 70.0 | 54.55 | -10.91 | 54.22 | -305.08 | 375.24 | 13.4 | 63.4 | 94.09 | -17.57 | 102.48 | 5.91 | 142.0 | -99.85 | 11.53 | -46.1 | -39.28 |
| 22Q3 (15) | -31.18 | -62.06 | -1902.31 | -34.52 | -54.18 | -8319.51 | -30.26 | -44.16 | -3460.0 | -30.30 | -44.35 | -3382.76 | -11.31 | -61.11 | -3434.38 | -2.82 | -43.15 | -4600.0 | 0.10 | 0.0 | -16.67 | -23.83 | -62.0 | -654.19 | 330.89 | 29.7 | 55.15 | 114.14 | 7.02 | 139.7 | -14.07 | -111.23 | -126.85 | 21.39 | -0.79 | 17.14 |
| 22Q2 (14) | -19.24 | -816.19 | -741.33 | -22.39 | -407.71 | -18758.33 | -20.99 | -473.5 | -5347.5 | -20.99 | -479.83 | -5219.51 | -7.02 | -358.82 | -4780.0 | -1.97 | -380.49 | -2562.5 | 0.10 | -23.08 | -9.09 | -14.71 | -1681.72 | -361.28 | 255.12 | 7.36 | 19.0 | 106.66 | -11.19 | 255.53 | -6.66 | 67.66 | -109.51 | 21.56 | 33.42 | 15.11 |
| 22Q1 (13) | -2.10 | -149.18 | -179.55 | -4.41 | -651.25 | -647.46 | -3.66 | -18200.0 | -594.59 | -3.62 | -8950.0 | -582.67 | -1.53 | -15200.0 | -502.63 | -0.41 | -920.0 | -392.86 | 0.13 | 18.18 | 18.18 | 0.93 | -82.52 | -85.17 | 237.64 | 3.48 | -10.09 | 120.10 | 103.16 | 251.23 | -20.59 | -100.53 | -111.67 | 16.16 | -14.9 | -29.4 |
| 21Q4 (12) | 4.27 | 146.82 | 135.73 | 0.80 | 295.12 | 105.54 | -0.02 | 97.65 | 99.82 | -0.04 | 95.4 | 99.64 | -0.01 | 96.88 | 99.92 | 0.05 | 183.33 | 102.98 | 0.11 | -8.33 | -26.67 | 5.32 | 23.72 | 176.99 | 229.64 | 7.68 | -64.33 | -3800.00 | -8080.0 | -3057.11 | 3900.00 | 7345.45 | 13782.32 | 18.99 | 4.0 | 20.19 |
| 21Q3 (11) | 1.73 | -42.33 | 154.4 | -0.41 | -441.67 | 91.75 | -0.85 | -312.5 | 81.19 | -0.87 | -312.2 | 80.75 | -0.32 | -313.33 | 94.38 | -0.06 | -175.0 | 93.1 | 0.12 | 9.09 | -40.0 | 4.30 | -23.62 | 441.27 | 213.27 | -0.52 | -60.45 | 47.62 | 58.73 | -56.75 | 52.38 | -25.17 | 619.05 | 18.26 | -2.51 | 45.61 |
| 21Q2 (10) | 3.00 | 13.64 | 154.15 | 0.12 | 120.34 | 101.68 | 0.40 | -45.95 | 106.8 | 0.41 | -45.33 | 106.97 | 0.15 | -60.53 | 102.26 | 0.08 | -42.86 | 107.21 | 0.11 | 0.0 | -45.0 | 5.63 | -10.21 | 329.8 | 214.39 | -18.88 | -56.75 | 30.00 | 137.78 | -75.4 | 70.00 | -60.33 | 422.16 | 18.73 | -18.17 | 0 |
| 21Q1 (9) | 2.64 | 122.09 | 218.92 | -0.59 | 95.91 | 86.34 | 0.74 | 106.6 | 117.58 | 0.75 | 106.68 | 117.77 | 0.38 | 103.17 | 110.47 | 0.14 | 108.33 | 122.58 | 0.11 | -26.67 | -31.25 | 6.27 | 190.74 | 31250.0 | 264.30 | -58.94 | -40.24 | -79.41 | -161.8 | -177.41 | 176.47 | 719.11 | 6923.53 | 22.89 | 44.87 | 0 |
| 20Q4 (8) | -11.95 | -275.79 | 26.28 | -14.43 | -190.34 | 25.08 | -11.22 | -148.23 | 45.74 | -11.23 | -148.45 | 45.91 | -11.98 | -110.54 | 18.78 | -1.68 | -93.1 | 44.19 | 0.15 | -25.0 | 0.0 | -6.91 | -448.41 | 57.4 | 643.75 | 19.37 | 45.25 | 128.50 | 16.72 | 37.98 | -28.50 | -182.45 | -514.94 | 15.80 | 26.0 | 0 |
| 20Q3 (7) | -3.18 | 42.6 | -216.06 | -4.97 | 30.59 | -1204.44 | -4.52 | 23.13 | -817.46 | -4.52 | 23.13 | -853.33 | -5.69 | 14.18 | -1364.44 | -0.87 | 21.62 | -680.0 | 0.20 | 0.0 | 17.65 | -1.26 | 48.57 | -126.69 | 539.28 | 8.79 | 62.23 | 110.09 | -9.74 | 54.13 | -10.09 | 53.56 | -135.32 | 12.54 | 0 | -24.14 |
| 20Q2 (6) | -5.54 | -149.55 | 58.25 | -7.16 | -65.74 | 59.11 | -5.88 | -39.67 | 68.25 | -5.88 | -39.34 | 68.32 | -6.63 | -82.64 | 4.6 | -1.11 | -79.03 | 35.09 | 0.20 | 25.0 | 122.22 | -2.45 | -12350.0 | 77.93 | 495.71 | 12.08 | 50.13 | 121.98 | 18.9 | 29.01 | -21.73 | -740.16 | -498.6 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | -2.22 | 86.3 | 56.64 | -4.32 | 77.57 | 50.91 | -4.21 | 79.64 | 54.34 | -4.22 | 79.67 | 54.23 | -3.63 | 75.39 | 13.57 | -0.62 | 79.4 | 42.59 | 0.16 | 6.67 | 33.33 | 0.02 | 100.12 | 100.78 | 442.30 | -0.21 | 66.93 | 102.59 | 10.15 | 7.37 | -2.59 | -137.65 | -158.09 | 0.00 | 0 | -100.0 |
| 19Q4 (4) | -16.21 | -691.61 | 0.0 | -19.26 | -4380.0 | 0.0 | -20.68 | -3382.54 | 0.0 | -20.76 | -3560.0 | 0.0 | -14.75 | -3377.78 | 0.0 | -3.01 | -2106.67 | 0.0 | 0.15 | -11.76 | 0.0 | -16.22 | -443.64 | 0.0 | 443.21 | 33.33 | 0.0 | 93.13 | 30.38 | 0.0 | 6.87 | -75.96 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 2.74 | 120.65 | 0.0 | 0.45 | 102.57 | 0.0 | 0.63 | 103.4 | 0.0 | 0.60 | 103.23 | 0.0 | 0.45 | 106.47 | 0.0 | 0.15 | 108.77 | 0.0 | 0.17 | 88.89 | 0.0 | 4.72 | 142.52 | 0.0 | 332.42 | 0.68 | 0.0 | 71.43 | -24.45 | 0.0 | 28.57 | 424.14 | 0.0 | 16.53 | -48.25 | 0.0 |
| 19Q2 (2) | -13.27 | -159.18 | 0.0 | -17.51 | -98.98 | 0.0 | -18.52 | -100.87 | 0.0 | -18.56 | -101.3 | 0.0 | -6.95 | -65.48 | 0.0 | -1.71 | -58.33 | 0.0 | 0.09 | -25.0 | 0.0 | -11.10 | -335.29 | 0.0 | 330.18 | 24.62 | 0.0 | 94.55 | -1.05 | 0.0 | 5.45 | 22.44 | 0.0 | 31.94 | 9.83 | 0.0 |
| 19Q1 (1) | -5.12 | 0.0 | 0.0 | -8.80 | 0.0 | 0.0 | -9.22 | 0.0 | 0.0 | -9.22 | 0.0 | 0.0 | -4.20 | 0.0 | 0.0 | -1.08 | 0.0 | 0.0 | 0.12 | 0.0 | 0.0 | -2.55 | 0.0 | 0.0 | 264.96 | 0.0 | 0.0 | 95.55 | 0.0 | 0.0 | 4.45 | 0.0 | 0.0 | 29.08 | 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) | -11.23 | 0 | -13.20 | 0 | 4.30 | 4.68 | -18.78 | 0 | -18.86 | 0 | -49.15 | 0 | -9.00 | 0 | 0.50 | 2.04 | -13.30 | 0 | 489.01 | 30.32 | 70.32 | -33.72 | 29.68 | 0 | 0.11 | -3.3 | 17.57 | 6.1 |
| 2022 (9) | -14.08 | 0 | -17.09 | 0 | 4.11 | -13.0 | -16.11 | 0 | -16.13 | 0 | -30.75 | 0 | -7.57 | 0 | 0.49 | 4.26 | -11.16 | 0 | 375.24 | 63.4 | 106.10 | 0 | -6.10 | 0 | 0.12 | 29.8 | 16.56 | -15.77 |
| 2021 (8) | 2.90 | 0 | -0.02 | 0 | 4.72 | 43.49 | 0.05 | 0 | 0.05 | 0 | 0.10 | 0 | 0.22 | 0 | 0.47 | -32.86 | 5.36 | 0 | 229.64 | -64.33 | -30.00 | 0 | 130.00 | 0 | 0.09 | 58.22 | 19.66 | 38.84 |
| 2020 (7) | -5.57 | 0 | -7.54 | 0 | 3.29 | -31.14 | -6.32 | 0 | -6.33 | 0 | -27.91 | 0 | -4.20 | 0 | 0.70 | 22.81 | -2.57 | 0 | 643.75 | 45.25 | 119.26 | 26.46 | -19.32 | 0 | 0.06 | 97.75 | 14.16 | -35.9 |
| 2019 (6) | -7.20 | 0 | -10.31 | 0 | 4.78 | 13.4 | -10.94 | 0 | -10.98 | 0 | -29.18 | 0 | -6.09 | 0 | 0.57 | -1.72 | -5.66 | 0 | 443.21 | 57.52 | 94.31 | -7.87 | 5.69 | 0 | 0.03 | -56.62 | 22.09 | -22.33 |
| 2018 (5) | -19.93 | 0 | -26.26 | 0 | 4.21 | 33.89 | -25.66 | 0 | -23.82 | 0 | -50.14 | 0 | -13.65 | 0 | 0.58 | -12.12 | -21.12 | 0 | 281.36 | 12.85 | 102.37 | 4.4 | -2.37 | 0 | 0.07 | 0 | 28.44 | 22.01 |
| 2017 (4) | -34.88 | 0 | -37.97 | 0 | 3.15 | -11.86 | -38.73 | 0 | -35.86 | 0 | -63.23 | 0 | -23.48 | 0 | 0.66 | 8.2 | -35.36 | 0 | 249.32 | 97.47 | 98.05 | -3.83 | 1.95 | 0 | 0.00 | 0 | 23.31 | -7.9 |
| 2016 (3) | -6.73 | 0 | -9.94 | 0 | 3.57 | 30.01 | -9.75 | 0 | -8.17 | 0 | -9.86 | 0 | -4.89 | 0 | 0.61 | -23.75 | -5.87 | 0 | 126.26 | 77.26 | 101.95 | 35.08 | -1.95 | 0 | 0.00 | 0 | 25.31 | 32.24 |
| 2015 (2) | 4.63 | 16.04 | 2.03 | 2.01 | 2.74 | 30.58 | 2.70 | 29.81 | 2.20 | 23.6 | 3.42 | 3.32 | 1.81 | 8.38 | 0.80 | -12.09 | 5.58 | 29.47 | 71.23 | -38.93 | 75.47 | -20.95 | 24.53 | 465.14 | 0.00 | 0 | 19.14 | 28.54 |
| 2014 (1) | 3.99 | 0 | 1.99 | 0 | 2.10 | 0.05 | 2.08 | 0 | 1.78 | 0 | 3.31 | 0 | 1.67 | 0 | 0.91 | -3.19 | 4.31 | -0.46 | 116.64 | 26.45 | 95.47 | 40.14 | 4.34 | -86.38 | 0.00 | 0 | 14.89 | -15.54 |
