- 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) | 3.22 | 33.61 | 2200.0 | -28.80 | -78.77 | 32.68 | -33.32 | -128.22 | 47.77 | -30.87 | -107.6 | 45.99 | -5.30 | -91.34 | 8.3 | -2.71 | -129.66 | 1.81 | 0.09 | 0.0 | 80.0 | -13.83 | -1607.41 | 68.42 | 64.86 | -40.19 | -37.44 | 86.90 | -21.79 | 29.69 | 13.10 | 217.86 | -60.31 | 33.10 | -0.99 | -25.25 |
| 23Q3 (19) | 2.41 | 172.59 | 109.59 | -16.11 | 45.96 | 74.01 | -14.60 | 47.33 | 63.76 | -14.87 | 45.41 | 64.37 | -2.77 | 34.82 | 29.87 | -1.18 | 39.8 | 36.9 | 0.09 | 12.5 | 80.0 | -0.81 | 92.81 | 96.08 | 108.44 | 5.72 | 12.43 | 111.11 | 2.43 | -28.32 | -11.11 | -63.89 | 79.8 | 33.43 | 0.18 | -34.45 |
| 23Q2 (18) | -3.32 | 56.14 | -158.66 | -29.81 | 16.52 | 15.34 | -27.72 | 33.68 | -37.43 | -27.24 | 32.26 | -26.05 | -4.25 | 11.64 | -80.08 | -1.96 | 12.89 | -79.82 | 0.08 | 33.33 | 33.33 | -11.27 | 51.82 | -124.06 | 102.57 | 4.15 | 2.39 | 108.47 | 28.04 | -38.01 | -6.78 | -148.81 | 90.96 | 33.37 | -16.37 | -42.58 |
| 23Q1 (17) | -7.57 | -5507.14 | -200.93 | -35.71 | 16.53 | -60.35 | -41.80 | 34.47 | -229.13 | -40.21 | 29.65 | -176.55 | -4.81 | 16.78 | -118.64 | -2.25 | 18.48 | -108.33 | 0.06 | 20.0 | -25.0 | -23.39 | 46.59 | -732.38 | 98.48 | -5.02 | 5.22 | 84.72 | 26.43 | -51.59 | 13.89 | -57.9 | 118.52 | 39.90 | -9.89 | -16.79 |
| 22Q4 (16) | 0.14 | 100.56 | -98.54 | -42.78 | 30.99 | -199.79 | -63.79 | -58.33 | -236.62 | -57.16 | -36.98 | -218.97 | -5.78 | -46.33 | -73.05 | -2.76 | -47.59 | -52.49 | 0.05 | 0.0 | -54.55 | -43.79 | -111.85 | -286.5 | 103.68 | 7.5 | 25.11 | 67.01 | -56.77 | -10.15 | 32.99 | 159.98 | 39.03 | 44.28 | -13.18 | 2.93 |
| 22Q3 (15) | -25.13 | -543.99 | -360.68 | -61.99 | -76.06 | -594.96 | -40.29 | -99.75 | -266.27 | -41.73 | -93.11 | -273.26 | -3.95 | -67.37 | -88.1 | -1.87 | -71.56 | -43.85 | 0.05 | -16.67 | -58.33 | -20.67 | -310.93 | -318.42 | 96.45 | -3.72 | 35.88 | 155.00 | -11.43 | 92.41 | -55.00 | 26.67 | -382.86 | 51.00 | -12.25 | 31.07 |
| 22Q2 (14) | 5.66 | -24.53 | -48.36 | -35.21 | -58.11 | -467.9 | -20.17 | -58.82 | -69.78 | -21.61 | -48.62 | -110.21 | -2.36 | -7.27 | -52.26 | -1.09 | -0.93 | -3.81 | 0.06 | -25.0 | -45.45 | -5.03 | -79.0 | -3.29 | 100.18 | 7.04 | 144.16 | 175.00 | 0.0 | 229.41 | -75.00 | 0.0 | -260.0 | 58.12 | 21.21 | 39.51 |
| 22Q1 (13) | 7.50 | -21.71 | -68.3 | -22.27 | -56.06 | -396.93 | -12.70 | 32.98 | -359.18 | -14.54 | 18.86 | -471.87 | -2.20 | 34.13 | -507.41 | -1.08 | 40.33 | -345.45 | 0.08 | -27.27 | -20.0 | -2.81 | 75.2 | -122.28 | 93.59 | 12.94 | 140.16 | 175.00 | 134.66 | 16.67 | -75.00 | -416.07 | -50.0 | 47.95 | 11.46 | 31.66 |
| 21Q4 (12) | 9.58 | -0.62 | -43.94 | -14.27 | -59.98 | -582.09 | -18.95 | -72.27 | -523.36 | -17.92 | -60.29 | -634.43 | -3.34 | -59.05 | -827.78 | -1.81 | -39.23 | -852.63 | 0.11 | -8.33 | 10.0 | -11.33 | -129.35 | -371.05 | 82.87 | 16.75 | 102.67 | 74.58 | -7.42 | 174.58 | 23.73 | 22.03 | -88.14 | 43.02 | 10.56 | 51.48 |
| 21Q3 (11) | 9.64 | -12.04 | -32.54 | -8.92 | -43.87 | -657.5 | -11.00 | 7.41 | -111.95 | -11.18 | -8.75 | -168.75 | -2.10 | -35.48 | -223.08 | -1.30 | -23.81 | -333.33 | 0.12 | 9.09 | 20.0 | -4.94 | -1.44 | -226.67 | 70.98 | 73.0 | 69.36 | 80.56 | 51.63 | 395.37 | 19.44 | -58.52 | -84.72 | 38.91 | -6.6 | 31.28 |
| 21Q2 (10) | 10.96 | -53.68 | -49.49 | -6.20 | -182.67 | -183.0 | -11.88 | -342.45 | -948.57 | -10.28 | -362.92 | -978.63 | -1.55 | -387.04 | -838.1 | -1.05 | -338.64 | -577.27 | 0.11 | 10.0 | 22.22 | -4.87 | -138.62 | -144.31 | 41.03 | 5.29 | -57.29 | 53.12 | -64.58 | -88.62 | 46.88 | 193.75 | 111.72 | 41.66 | 14.39 | 10.53 |
| 21Q1 (9) | 23.66 | 38.44 | 1.76 | 7.50 | 153.38 | -15.35 | 4.90 | 261.18 | -55.29 | 3.91 | 260.25 | -55.42 | 0.54 | 250.0 | -68.05 | 0.44 | 331.58 | -57.28 | 0.10 | 0.0 | 0.0 | 12.61 | 201.67 | -34.49 | 38.97 | -4.7 | -52.52 | 150.00 | 250.0 | 81.58 | -50.00 | -125.0 | -387.5 | 36.42 | 28.24 | 6.83 |
| 20Q4 (8) | 17.09 | 19.59 | -20.92 | 2.96 | 85.0 | -65.5 | -3.04 | 41.43 | -173.87 | -2.44 | 41.35 | -168.13 | -0.36 | 44.62 | -111.76 | -0.19 | 36.67 | -1050.0 | 0.10 | 0.0 | 0.0 | 4.18 | 7.18 | -43.97 | 40.89 | -2.43 | -53.17 | -100.00 | -266.67 | 88.24 | 200.00 | 57.14 | -78.95 | 28.40 | -4.18 | 0 |
| 20Q3 (7) | 14.29 | -34.15 | -51.13 | 1.60 | -78.58 | -89.96 | -5.19 | -470.71 | -132.24 | -4.16 | -455.56 | -132.3 | -0.65 | -409.52 | -123.55 | -0.30 | -236.36 | -120.13 | 0.10 | 11.11 | -9.09 | 3.90 | -64.51 | -82.84 | 41.91 | -56.37 | -52.49 | -27.27 | -105.84 | -127.27 | 127.27 | 131.82 | 0 | 29.64 | -21.36 | 0 |
| 20Q2 (6) | 21.70 | -6.67 | -25.86 | 7.47 | -15.69 | -53.2 | 1.40 | -87.23 | -93.69 | 1.17 | -86.66 | -93.43 | 0.21 | -87.57 | -94.57 | 0.22 | -78.64 | -87.98 | 0.09 | -10.0 | -10.0 | 10.99 | -42.91 | -62.09 | 96.06 | 17.05 | -17.34 | 466.67 | 464.91 | 550.51 | -400.00 | -2400.0 | -1515.38 | 37.69 | 10.56 | 17.74 |
| 20Q1 (5) | 23.25 | 7.59 | 7.49 | 8.86 | 3.26 | 73.73 | 10.96 | 1087.39 | 24.12 | 8.77 | 1063.74 | 23.87 | 1.69 | 1094.12 | 56.48 | 1.03 | 5050.0 | 74.58 | 0.10 | 0.0 | 66.67 | 19.25 | 158.04 | 8.57 | 82.07 | -6.0 | -41.51 | 82.61 | 109.72 | 41.61 | 17.39 | -98.17 | -58.26 | 34.09 | 0 | -21.36 |
| 19Q4 (4) | 21.61 | -26.09 | 0.0 | 8.58 | -46.17 | 0.0 | -1.11 | -106.89 | 0.0 | -0.91 | -107.07 | 0.0 | -0.17 | -106.16 | 0.0 | 0.02 | -98.66 | 0.0 | 0.10 | -9.09 | 0.0 | 7.46 | -67.18 | 0.0 | 87.31 | -1.02 | 0.0 | -850.00 | -950.0 | 0.0 | 950.00 | 0 | 0.0 | 0.00 | 0 | 0.0 |
| 19Q3 (3) | 29.24 | -0.1 | 0.0 | 15.94 | -0.13 | 0.0 | 16.10 | -27.38 | 0.0 | 12.88 | -27.68 | 0.0 | 2.76 | -28.68 | 0.0 | 1.49 | -18.58 | 0.0 | 0.11 | 10.0 | 0.0 | 22.73 | -21.59 | 0.0 | 88.21 | -24.09 | 0.0 | 100.00 | 39.39 | 0.0 | 0.00 | -100.0 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q2 (2) | 29.27 | 35.32 | 0.0 | 15.96 | 212.94 | 0.0 | 22.17 | 151.08 | 0.0 | 17.81 | 151.55 | 0.0 | 3.87 | 258.33 | 0.0 | 1.83 | 210.17 | 0.0 | 0.10 | 66.67 | 0.0 | 28.99 | 63.51 | 0.0 | 116.21 | -17.18 | 0.0 | 71.74 | 22.98 | 0.0 | 28.26 | -32.17 | 0.0 | 32.01 | -26.16 | 0.0 |
| 19Q1 (1) | 21.63 | 0.0 | 0.0 | 5.10 | 0.0 | 0.0 | 8.83 | 0.0 | 0.0 | 7.08 | 0.0 | 0.0 | 1.08 | 0.0 | 0.0 | 0.59 | 0.0 | 0.0 | 0.06 | 0.0 | 0.0 | 17.73 | 0.0 | 0.0 | 140.31 | 0.0 | 0.0 | 58.33 | 0.0 | 0.0 | 41.67 | 0.0 | 0.0 | 43.35 | 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) | -0.68 | 0 | -26.86 | 0 | 13.91 | 16.91 | -28.41 | 0 | -27.35 | 0 | -15.53 | 0 | -7.86 | 0 | 0.31 | 24.0 | -11.31 | 0 | 64.86 | -37.44 | 94.42 | -22.96 | 5.58 | 0 | 1.18 | 0.37 | 34.57 | -31.27 |
| 2022 (9) | -1.18 | 0 | -37.87 | 0 | 11.90 | 99.18 | -30.86 | 0 | -30.75 | 0 | -14.53 | 0 | -7.06 | 0 | 0.25 | -41.86 | -15.60 | 0 | 103.68 | 25.11 | 122.57 | 94.06 | -22.57 | 0 | 1.17 | 288.24 | 50.30 | 25.28 |
| 2021 (8) | 12.86 | -32.32 | -6.30 | 0 | 5.98 | -15.65 | -10.04 | 0 | -9.64 | 0 | -6.64 | 0 | -3.86 | 0 | 0.43 | 13.16 | -2.99 | 0 | 82.87 | 102.67 | 63.16 | -88.25 | 37.72 | 0 | 0.30 | -10.76 | 40.15 | 24.61 |
| 2020 (7) | 19.00 | -26.53 | 5.13 | -57.36 | 7.08 | 26.85 | 0.96 | -91.93 | 0.77 | -91.92 | 0.47 | -93.55 | 0.66 | -83.46 | 0.38 | 2.7 | 9.56 | -50.92 | 40.89 | -53.17 | 537.50 | 431.72 | -437.50 | 0 | 0.34 | 0 | 32.22 | -7.07 |
| 2019 (6) | 25.86 | 8.61 | 12.03 | 142.05 | 5.58 | -8.72 | 11.90 | -8.46 | 9.53 | -11.68 | 7.29 | 43.5 | 3.99 | 50.0 | 0.37 | 85.0 | 19.48 | -11.93 | 87.31 | -35.57 | 101.09 | 164.75 | -1.09 | 0 | 0.00 | 0 | 34.67 | -17.43 |
| 2018 (5) | 23.81 | 14.2 | 4.97 | 65.12 | 6.12 | -3.53 | 13.00 | 0 | 10.79 | 0 | 5.08 | 0 | 2.66 | 0 | 0.20 | -16.67 | 22.12 | 4414.29 | 135.52 | 7.26 | 38.18 | 0 | 61.82 | -55.04 | 0.00 | 0 | 41.99 | 24.97 |
| 2017 (4) | 20.85 | -44.5 | 3.01 | -87.3 | 6.34 | 27.09 | -7.83 | 0 | -6.47 | 0 | -2.97 | 0 | -1.17 | 0 | 0.24 | -40.0 | 0.49 | -98.29 | 126.35 | 99.1 | -37.50 | 0 | 137.50 | 0 | 0.00 | 0 | 33.60 | 14.44 |
| 2016 (3) | 37.57 | -9.3 | 23.71 | 9.67 | 4.99 | -20.44 | 23.04 | -6.65 | 22.73 | -7.53 | 12.83 | -12.9 | 9.24 | -24.39 | 0.40 | -18.37 | 28.69 | -8.51 | 63.46 | 260.16 | 102.70 | 17.61 | -2.70 | 0 | 0.00 | 0 | 29.36 | -3.39 |
| 2015 (2) | 41.42 | 163.32 | 21.62 | 0 | 6.27 | -49.04 | 24.68 | 0 | 24.58 | 0 | 14.73 | 0 | 12.22 | 0 | 0.49 | -25.76 | 31.36 | 0 | 17.62 | -54.97 | 87.32 | -26.65 | 12.68 | 0 | 0.00 | 0 | 30.39 | -16.44 |
| 2014 (1) | 15.73 | 0 | -19.48 | 0 | 12.31 | -36.41 | -15.95 | 0 | -16.30 | 0 | -13.47 | 0 | -10.77 | 0 | 0.66 | 43.48 | -3.08 | 0 | 39.13 | 343.15 | 119.05 | 26.49 | -23.81 | 0 | 0.00 | 0 | 36.37 | -10.68 |
