- 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 | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 23Q3 (20) | -38.54 | -623.08 | -881.74 | -201.43 | -471.59 | -3112.6 | -212.99 | -455.53 | -1729.81 | -168.16 | -477.47 | -1787.32 | -14.14 | -147.64 | -818.18 | -5.97 | -150.84 | -1513.51 | 0.04 | -55.56 | -42.86 | -188.65 | -544.3 | -9725.52 | 134.82 | 19.1 | -2.02 | 94.67 | 3.61 | 70.4 | 5.33 | -32.61 | -88.71 | 21.58 | 129.33 | 74.74 |
| 23Q2 (19) | -5.33 | -4.72 | -137.61 | -35.24 | -1.18 | -576.86 | -38.34 | 1.54 | -802.2 | -29.12 | 24.3 | -870.37 | -5.71 | -9.18 | -571.9 | -2.38 | -4.39 | -397.5 | 0.09 | 28.57 | -35.71 | -29.28 | -6.28 | -375.97 | 113.20 | 2.73 | -14.83 | 91.37 | 2.29 | -34.13 | 7.91 | -25.9 | 122.3 | 9.41 | -27.5 | 15.6 |
| 23Q1 (18) | -5.09 | -253.78 | -131.09 | -34.83 | -737.26 | -480.66 | -38.94 | -617.13 | -565.23 | -38.47 | -798.83 | -662.43 | -5.23 | -218.9 | -375.26 | -2.28 | -406.67 | -313.08 | 0.07 | -61.11 | -41.67 | -27.55 | -2404.55 | -297.21 | 110.19 | 12.22 | -11.56 | 89.32 | 19.09 | -18.62 | 10.68 | -52.54 | 209.47 | 12.98 | 229.44 | 51.64 |
| 22Q4 (17) | 3.31 | -32.86 | -76.62 | -4.16 | 33.65 | -144.3 | -5.43 | 53.35 | -168.56 | -4.28 | 51.96 | -159.69 | -1.64 | -6.49 | -147.26 | -0.45 | -21.62 | -125.14 | 0.18 | 157.14 | -18.18 | -1.10 | 42.71 | -110.03 | 98.19 | -28.64 | -21.01 | 75.00 | 35.0 | -37.19 | 22.50 | -52.35 | 225.62 | 3.94 | -68.1 | -35.3 |
| 22Q3 (16) | 4.93 | -65.21 | -68.21 | -6.27 | -184.84 | -169.28 | -11.64 | -313.19 | -249.04 | -8.91 | -335.71 | -248.01 | -1.54 | -227.27 | -160.39 | -0.37 | -146.25 | -126.81 | 0.07 | -50.0 | -63.16 | -1.92 | -118.1 | -117.19 | 137.60 | 3.53 | 14.11 | 55.56 | -59.95 | -52.14 | 47.22 | 233.08 | 393.83 | 12.35 | 51.72 | 53.04 |
| 22Q2 (15) | 14.17 | -13.44 | -20.26 | 7.39 | -19.23 | -29.28 | 5.46 | -34.77 | -41.04 | 3.78 | -44.74 | -49.6 | 1.21 | -36.32 | -60.2 | 0.80 | -25.23 | -47.71 | 0.14 | 16.67 | -17.65 | 10.61 | -24.05 | -21.23 | 132.91 | 6.68 | 10.04 | 138.71 | 26.38 | 22.79 | -35.48 | -263.71 | -173.73 | 8.14 | -4.91 | 9.41 |
| 22Q1 (14) | 16.37 | 15.61 | 297.33 | 9.15 | -2.56 | 402.75 | 8.37 | 5.68 | 1173.08 | 6.84 | -4.6 | 924.1 | 1.90 | -45.24 | 830.77 | 1.07 | -40.22 | 463.16 | 0.12 | -45.45 | 0.0 | 13.97 | 27.35 | 141.28 | 124.59 | 0.23 | -22.29 | 109.76 | -8.08 | 147.04 | -9.76 | 45.53 | -102.93 | 8.56 | 40.56 | -4.36 |
| 21Q4 (13) | 14.16 | -8.7 | 105.81 | 9.39 | 3.76 | 289.63 | 7.92 | 1.41 | 984.93 | 7.17 | 19.1 | 1891.67 | 3.47 | 36.08 | 1477.27 | 1.79 | 29.71 | 411.43 | 0.22 | 15.79 | -8.33 | 10.97 | -1.79 | 168.22 | 124.31 | 3.08 | -21.77 | 119.40 | 2.87 | -60.2 | -17.91 | -11.44 | 91.73 | 6.09 | -24.54 | 26.88 |
| 21Q3 (12) | 15.51 | -12.72 | 25.08 | 9.05 | -13.4 | 128.54 | 7.81 | -15.66 | 1223.73 | 6.02 | -19.73 | 1237.78 | 2.55 | -16.12 | 1400.0 | 1.38 | -9.8 | 345.16 | 0.19 | 11.76 | 35.71 | 11.17 | -17.07 | 106.09 | 120.59 | -0.16 | -24.62 | 116.07 | 2.75 | -80.65 | -16.07 | -23.98 | 96.99 | 8.07 | 8.47 | 12.71 |
| 21Q2 (11) | 17.77 | 331.31 | 79.13 | 10.45 | 474.18 | 352.38 | 9.26 | 1287.18 | 1204.23 | 7.50 | 1003.61 | 1215.79 | 3.04 | 1269.23 | 1500.0 | 1.53 | 705.26 | 363.64 | 0.17 | 41.67 | 30.77 | 13.47 | 132.64 | 120.46 | 120.78 | -24.67 | -24.23 | 112.96 | 148.41 | -62.35 | -12.96 | -103.89 | 94.44 | 7.44 | -16.87 | 2.76 |
| 21Q1 (10) | 4.12 | -40.12 | -67.71 | 1.82 | -24.48 | -60.52 | -0.78 | -206.85 | -154.93 | -0.83 | -330.56 | -172.81 | -0.26 | -218.18 | -196.3 | 0.19 | -45.71 | -51.28 | 0.12 | -50.0 | 20.0 | 5.79 | 41.56 | -32.12 | 160.33 | 0.9 | 7.95 | -233.33 | -177.78 | -166.67 | 333.33 | 253.85 | 248.15 | 8.95 | 86.46 | -12.17 |
| 20Q4 (9) | 6.88 | -44.52 | 230.77 | 2.41 | -39.14 | 197.53 | 0.73 | 23.73 | 40.38 | 0.36 | -20.0 | 500.0 | 0.22 | 29.41 | 466.67 | 0.35 | 12.9 | 29.63 | 0.24 | 71.43 | -17.24 | 4.09 | -24.54 | 48.73 | 158.90 | -0.68 | 12.98 | 300.00 | -50.0 | 71.43 | -216.67 | 59.38 | -333.33 | 4.80 | -32.96 | 0 |
| 20Q3 (8) | 12.40 | 25.0 | 1.39 | 3.96 | 71.43 | -12.39 | 0.59 | -16.9 | -74.24 | 0.45 | -21.05 | -85.98 | 0.17 | -10.53 | -87.94 | 0.31 | -6.06 | -68.37 | 0.14 | 7.69 | -26.32 | 5.42 | -11.29 | -12.16 | 159.98 | 0.36 | 21.0 | 600.00 | 100.0 | 200.0 | -533.33 | -128.57 | -433.33 | 7.16 | -1.1 | 40.94 |
| 20Q2 (7) | 9.92 | -22.26 | 62.62 | 2.31 | -49.89 | 371.76 | 0.71 | -50.0 | 118.78 | 0.57 | -50.0 | 113.04 | 0.19 | -29.63 | 114.73 | 0.33 | -15.38 | 226.92 | 0.13 | 30.0 | 0.0 | 6.11 | -28.37 | 339.57 | 159.41 | 7.33 | 21.03 | 300.00 | -14.29 | 1300.0 | -233.33 | -3.7 | -396.97 | 7.24 | -28.95 | -9.73 |
| 20Q1 (6) | 12.76 | 513.46 | 33.19 | 4.61 | 469.14 | 138.86 | 1.42 | 173.08 | 186.06 | 1.14 | 1366.67 | 612.5 | 0.27 | 550.0 | 575.0 | 0.39 | 44.44 | -2.5 | 0.10 | -65.52 | -16.67 | 8.53 | 210.18 | 84.63 | 148.52 | 5.6 | 24.25 | 350.00 | 100.0 | 391.67 | -225.00 | -350.0 | -193.75 | 10.19 | 0 | 17.4 |
| 19Q4 (5) | 2.08 | -82.99 | -70.66 | 0.81 | -82.08 | -80.43 | 0.52 | -77.29 | -80.08 | -0.09 | -102.8 | -102.88 | -0.06 | -104.26 | -102.79 | 0.27 | -72.45 | -82.58 | 0.29 | 52.63 | -12.12 | 2.75 | -55.43 | -44.33 | 140.64 | 6.37 | 29.89 | 175.00 | -12.5 | 10.0 | -50.00 | 50.0 | 15.38 | 0.00 | -100.0 | -100.0 |
| 19Q3 (4) | 12.23 | 100.49 | 0.0 | 4.52 | 631.76 | 0.0 | 2.29 | 160.58 | 0.0 | 3.21 | 173.46 | 0.0 | 1.41 | 209.3 | 0.0 | 0.98 | 476.92 | 0.0 | 0.19 | 46.15 | 0.0 | 6.17 | 343.88 | 0.0 | 132.22 | 0.39 | 0.0 | 200.00 | 833.33 | 0.0 | -100.00 | -227.27 | 0.0 | 5.08 | -36.66 | 0.0 |
| 19Q2 (3) | 6.10 | -36.33 | 0.0 | -0.85 | -144.04 | 0.0 | -3.78 | -129.09 | 0.0 | -4.37 | -2831.25 | 0.0 | -1.29 | -3325.0 | 0.0 | -0.26 | -165.0 | 0.0 | 0.13 | 8.33 | 0.0 | 1.39 | -69.91 | 0.0 | 131.71 | 10.19 | 0.0 | 21.43 | 117.86 | 0.0 | 78.57 | -67.26 | 0.0 | 8.02 | -7.6 | 0.0 |
| 19Q1 (2) | 9.58 | 35.12 | 0.0 | 1.93 | -53.38 | 0.0 | -1.65 | -163.22 | 0.0 | 0.16 | -94.87 | 0.0 | 0.04 | -98.14 | 0.0 | 0.40 | -74.19 | 0.0 | 0.12 | -63.64 | 0.0 | 4.62 | -6.48 | 0.0 | 119.53 | 10.39 | 0.0 | -120.00 | -175.43 | 0.0 | 240.00 | 506.15 | 0.0 | 8.68 | 163.83 | 0.0 |
| 18Q4 (1) | 7.09 | 0.0 | 0.0 | 4.14 | 0.0 | 0.0 | 2.61 | 0.0 | 0.0 | 3.12 | 0.0 | 0.0 | 2.15 | 0.0 | 0.0 | 1.55 | 0.0 | 0.0 | 0.33 | 0.0 | 0.0 | 4.94 | 0.0 | 0.0 | 108.28 | 0.0 | 0.0 | 159.09 | 0.0 | 0.0 | -59.09 | 0.0 | 0.0 | 3.29 | 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 | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2022 (10) | 9.56 | -31.02 | 1.79 | -78.69 | 2.93 | 34.6 | -0.16 | 0 | -0.17 | 0 | -0.19 | 0 | 1.03 | -79.44 | 0.53 | -25.35 | 5.49 | -49.45 | 98.19 | -21.01 | -1266.67 | 0 | 1366.67 | 0 | 0.30 | 0.81 | 7.41 | 0.27 |
| 2021 (9) | 13.86 | 42.15 | 8.40 | 170.97 | 2.18 | -14.54 | 6.89 | 761.25 | 5.71 | 957.41 | 9.62 | 1018.6 | 5.01 | 252.82 | 0.71 | 12.7 | 10.86 | 96.74 | 124.31 | -21.77 | 121.84 | -69.54 | -21.84 | 0 | 0.30 | -27.4 | 7.39 | 10.13 |
| 2020 (8) | 9.75 | 47.5 | 3.10 | 86.75 | 2.55 | 69.34 | 0.80 | 0 | 0.54 | 800.0 | 0.86 | 760.0 | 1.42 | 0.71 | 0.63 | -16.0 | 5.52 | 47.59 | 158.90 | 12.98 | 400.00 | 0 | -293.33 | 0 | 0.41 | 102.68 | 6.71 | 19.18 |
| 2019 (7) | 6.61 | -16.43 | 1.66 | -54.02 | 1.51 | -9.93 | -0.11 | 0 | 0.06 | -98.01 | 0.10 | -98.49 | 1.41 | -68.87 | 0.75 | -28.57 | 3.74 | -36.29 | 140.64 | 29.89 | -1700.00 | 0 | 1800.00 | 0 | 0.20 | -12.51 | 5.63 | 35.34 |
| 2018 (6) | 7.91 | 83.1 | 3.61 | 375.0 | 1.67 | -9.8 | 2.35 | 99.15 | 3.02 | 117.27 | 6.61 | 18.25 | 4.53 | 41.12 | 1.05 | -30.0 | 5.87 | 36.19 | 108.28 | -0.92 | 152.73 | 133.11 | -52.73 | 0 | 0.23 | -60.48 | 4.16 | 14.29 |
| 2017 (5) | 4.32 | 0 | 0.76 | 0 | 1.85 | -10.31 | 1.18 | 0 | 1.39 | 0 | 5.59 | 0 | 3.21 | 0 | 1.50 | -16.2 | 4.31 | 0 | 109.29 | -65.73 | 65.52 | -29.26 | 34.48 | 413.79 | 0.59 | 0 | 3.64 | -1.62 |
| 2016 (4) | -3.96 | 0 | -7.16 | 0 | 2.07 | -6.35 | -7.69 | 0 | -7.97 | 0 | -36.77 | 0 | -13.93 | 0 | 1.79 | -10.05 | -4.86 | 0 | 318.95 | 585.32 | 92.62 | 0.5 | 6.71 | -14.43 | 0.00 | 0 | 3.70 | -14.15 |
| 2015 (3) | -6.76 | 0 | -11.50 | 0 | 2.21 | 22.13 | -12.50 | 0 | -11.72 | 0 | -32.30 | 0 | -22.86 | 0 | 1.99 | -3.86 | -9.38 | 0 | 46.54 | 39.84 | 92.16 | 13.84 | 7.84 | -58.82 | 0.00 | 0 | 4.31 | 1.89 |
| 2014 (2) | 1.97 | 0 | -1.86 | 0 | 1.81 | -11.73 | -2.32 | 0 | -1.99 | 0 | -5.15 | 0 | -3.84 | 0 | 2.07 | 21.76 | 0.22 | 0 | 33.28 | 91.71 | 80.95 | -6.27 | 19.05 | 39.68 | 0.00 | 0 | 4.23 | -11.32 |
| 2013 (1) | -1.28 | 0 | -6.09 | 0 | 2.05 | 0 | -7.06 | 0 | -8.35 | 0 | -16.55 | 0 | -14.05 | 0 | 1.70 | 0 | -4.29 | 0 | 17.36 | 0 | 86.36 | 0 | 13.64 | 0 | 0.00 | 0 | 4.77 | 0 |
