- 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) | 4.80 | 141.21 | 196.3 | -8.02 | 23.47 | 32.66 | -10.76 | -8.36 | 36.29 | -7.26 | -3.27 | 27.4 | -2.52 | -10.53 | 8.7 | -0.88 | 3.3 | 22.81 | 0.14 | -6.67 | 7.69 | -1.47 | -425.0 | 74.07 | 153.78 | 22.42 | 41.98 | 74.07 | -29.88 | 4.46 | 25.93 | 560.19 | -10.88 | 16.97 | 4.11 | -8.71 |
| 23Q3 (19) | 1.99 | 184.29 | 127.45 | -10.48 | 24.39 | 50.66 | -9.93 | 3.03 | 16.62 | -7.03 | -30.91 | -0.43 | -2.28 | -68.89 | -36.53 | -0.91 | -89.58 | -51.67 | 0.15 | 25.0 | 36.36 | -0.28 | -113.15 | -132.56 | 125.62 | 22.96 | 16.83 | 105.63 | -21.45 | -40.74 | -5.63 | 83.66 | 92.8 | 16.30 | -15.41 | -13.07 |
| 23Q2 (18) | 0.70 | -81.82 | -86.17 | -13.86 | -44.07 | -135.71 | -10.24 | 12.03 | -866.04 | -5.37 | 21.38 | -1351.35 | -1.35 | 19.64 | -1025.0 | -0.48 | 23.81 | -469.23 | 0.12 | 0.0 | -20.0 | 2.13 | 139.33 | -73.87 | 102.16 | -8.73 | -16.11 | 134.48 | 64.37 | -74.78 | -34.48 | -306.9 | 92.04 | 19.27 | 3.99 | 24.48 |
| 23Q1 (17) | 3.85 | 137.65 | -64.71 | -9.62 | 19.23 | -1007.55 | -11.64 | 31.08 | -1078.15 | -6.83 | 31.7 | -1104.41 | -1.68 | 39.13 | -830.43 | -0.63 | 44.74 | -342.31 | 0.12 | -7.69 | -20.0 | 0.89 | 115.7 | -91.3 | 111.93 | 3.34 | -15.95 | 81.82 | 15.38 | -9.09 | 16.67 | -42.71 | 66.67 | 18.53 | -0.32 | 48.12 |
| 22Q4 (16) | 1.62 | 122.34 | -89.3 | -11.91 | 43.93 | -308.95 | -16.89 | -41.81 | -634.49 | -10.00 | -42.86 | -447.22 | -2.76 | -65.27 | -313.95 | -1.14 | -90.0 | -256.16 | 0.13 | 18.18 | -31.58 | -5.67 | -759.3 | -156.47 | 108.31 | 0.73 | -19.06 | 70.91 | -60.22 | -60.48 | 29.09 | 137.17 | 136.63 | 18.59 | -0.85 | 50.77 |
| 22Q3 (15) | -7.25 | -243.28 | -136.73 | -21.24 | -261.22 | -310.09 | -11.91 | -1023.58 | -215.86 | -7.00 | -1791.89 | -212.36 | -1.67 | -1291.67 | -159.43 | -0.60 | -561.54 | -144.78 | 0.11 | -26.67 | -42.11 | 0.86 | -89.45 | -94.99 | 107.52 | -11.71 | -21.34 | 178.26 | -66.58 | 81.62 | -78.26 | 81.94 | -4326.09 | 18.75 | 21.12 | 48.81 |
| 22Q2 (14) | 5.06 | -53.62 | -78.87 | -5.88 | -654.72 | -138.06 | -1.06 | -189.08 | -108.22 | -0.37 | -154.41 | -105.21 | -0.12 | -152.17 | -103.02 | 0.13 | -50.0 | -92.86 | 0.15 | 0.0 | -37.5 | 8.15 | -20.33 | -56.06 | 121.78 | -8.55 | -13.47 | 533.33 | 492.59 | 343.54 | -433.33 | -4433.33 | -2107.29 | 15.48 | 23.74 | 46.04 |
| 22Q1 (13) | 10.91 | -27.94 | -42.73 | 1.06 | -81.4 | -87.82 | 1.19 | -62.34 | -85.78 | 0.68 | -76.39 | -88.91 | 0.23 | -82.17 | -91.19 | 0.26 | -64.38 | -79.2 | 0.15 | -21.05 | -16.67 | 10.23 | 1.89 | -36.38 | 133.17 | -0.49 | -0.8 | 90.00 | -49.84 | -13.33 | 10.00 | 112.59 | 360.0 | 12.51 | 1.46 | -2.8 |
| 21Q4 (12) | 15.14 | -23.3 | 11.41 | 5.70 | -43.62 | 13.1 | 3.16 | -69.26 | 106.54 | 2.88 | -53.77 | 107.19 | 1.29 | -54.09 | 79.17 | 0.73 | -45.52 | 73.81 | 0.19 | 0.0 | -9.52 | 10.04 | -41.49 | 26.77 | 133.82 | -2.1 | -5.39 | 179.41 | 82.8 | -44.55 | -79.41 | -4388.24 | 65.38 | 12.33 | -2.14 | 9.12 |
| 21Q3 (11) | 19.74 | -17.58 | 33.74 | 10.11 | -34.56 | 84.15 | 10.28 | -20.25 | 300.0 | 6.23 | -12.25 | 451.33 | 2.81 | -29.4 | 420.37 | 1.34 | -26.37 | 197.78 | 0.19 | -20.83 | -5.0 | 17.16 | -7.49 | 67.74 | 136.69 | -2.87 | -4.43 | 98.15 | -18.38 | -53.6 | 1.85 | 109.43 | 101.66 | 12.60 | 18.87 | 5.7 |
| 21Q2 (10) | 23.95 | 25.72 | 62.59 | 15.45 | 77.59 | 195.98 | 12.89 | 54.0 | 203.29 | 7.10 | 15.82 | 184.0 | 3.98 | 52.49 | 286.41 | 1.82 | 45.6 | 193.55 | 0.24 | 33.33 | 33.33 | 18.55 | 15.36 | 45.04 | 140.73 | 4.83 | 8.9 | 120.25 | 15.79 | -1.13 | -19.63 | -410.43 | 9.2 | 10.60 | -17.64 | 0 |
| 21Q1 (9) | 19.05 | 40.18 | 293.01 | 8.70 | 72.62 | 134.91 | 8.37 | 447.06 | 130.32 | 6.13 | 341.01 | 133.08 | 2.61 | 262.5 | 162.59 | 1.25 | 197.62 | 181.17 | 0.18 | -14.29 | 100.0 | 16.08 | 103.03 | 235.58 | 134.24 | -5.09 | 0.81 | 103.85 | -67.9 | 14.91 | -3.85 | 98.32 | -139.94 | 12.87 | 13.89 | 0 |
| 20Q4 (8) | 13.59 | -7.93 | 64.13 | 5.04 | -8.2 | 393.02 | 1.53 | -40.47 | 143.1 | 1.39 | 23.01 | 109.15 | 0.72 | 33.33 | 112.24 | 0.42 | -6.67 | 118.42 | 0.21 | 5.0 | 31.25 | 7.92 | -22.58 | 58.72 | 141.44 | -1.1 | -5.82 | 323.53 | 52.94 | 590.2 | -229.41 | -105.68 | -558.82 | 11.30 | -5.2 | -27.28 |
| 20Q3 (7) | 14.76 | 0.2 | 130.27 | 5.49 | 5.17 | 231.65 | 2.57 | -39.53 | 176.95 | 1.13 | -54.8 | 149.56 | 0.54 | -47.57 | 169.23 | 0.45 | -27.42 | 381.25 | 0.20 | 11.11 | 33.33 | 10.23 | -20.02 | 67.16 | 143.02 | 10.67 | 11.91 | 211.54 | 73.93 | 69.23 | -111.54 | -415.87 | -346.15 | 11.92 | 0 | -29.01 |
| 20Q2 (6) | 14.73 | 249.24 | 50.92 | 5.22 | 120.95 | 3580.0 | 4.25 | 115.39 | 203.57 | 2.50 | 113.49 | 962.07 | 1.03 | 124.7 | 1130.0 | 0.62 | 140.26 | 342.86 | 0.18 | 100.0 | 12.5 | 12.79 | 207.84 | 27.01 | 129.23 | -2.95 | 3.52 | 121.62 | 34.58 | 1681.08 | -21.62 | -324.53 | -120.08 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | -9.87 | -219.2 | -189.32 | -24.92 | -1348.84 | 0 | -27.61 | -677.75 | -402.91 | -18.53 | -21.99 | -342.24 | -4.17 | 29.08 | -228.35 | -1.54 | 32.46 | -327.78 | 0.09 | -43.75 | -30.77 | -11.86 | -337.68 | -343.03 | 133.16 | -11.33 | 3.22 | 90.37 | 92.79 | 0 | 9.63 | -80.74 | -90.37 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 8.28 | 29.17 | 0.0 | -1.72 | 58.75 | 0.0 | -3.55 | -6.29 | 0.0 | -15.19 | -566.23 | 0.0 | -5.88 | -653.85 | 0.0 | -2.28 | -1325.0 | 0.0 | 0.16 | 6.67 | 0.0 | 4.99 | -18.46 | 0.0 | 150.18 | 17.51 | 0.0 | 46.88 | -62.5 | 0.0 | 50.00 | 300.0 | 0.0 | 15.54 | -7.44 | 0.0 |
| 19Q3 (3) | 6.41 | -34.32 | 0.0 | -4.17 | -2680.0 | 0.0 | -3.34 | -338.57 | 0.0 | -2.28 | -686.21 | 0.0 | -0.78 | -680.0 | 0.0 | -0.16 | -214.29 | 0.0 | 0.15 | -6.25 | 0.0 | 6.12 | -39.23 | 0.0 | 127.80 | 2.37 | 0.0 | 125.00 | 1725.0 | 0.0 | -25.00 | -123.21 | 0.0 | 16.79 | 6.4 | 0.0 |
| 19Q2 (2) | 9.76 | -11.67 | 0.0 | -0.15 | 0 | 0.0 | 1.40 | 125.5 | 0.0 | -0.29 | 93.08 | 0.0 | -0.10 | 92.13 | 0.0 | 0.14 | 138.89 | 0.0 | 0.16 | 23.08 | 0.0 | 10.07 | 106.35 | 0.0 | 124.84 | -3.23 | 0.0 | -7.69 | 0 | 0.0 | 107.69 | 7.69 | 0.0 | 15.78 | 0.7 | 0.0 |
| 19Q1 (1) | 11.05 | 0.0 | 0.0 | 0.00 | 0.0 | 0.0 | -5.49 | 0.0 | 0.0 | -4.19 | 0.0 | 0.0 | -1.27 | 0.0 | 0.0 | -0.36 | 0.0 | 0.0 | 0.13 | 0.0 | 0.0 | 4.88 | 0.0 | 0.0 | 129.01 | 0.0 | 0.0 | -0.00 | 0.0 | 0.0 | 100.00 | 0.0 | 0.0 | 15.67 | 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) | 2.93 | -16.76 | -10.31 | 0 | 9.03 | 5.85 | -10.61 | 0 | -6.70 | 0 | -7.85 | 0 | -2.78 | 0 | 0.51 | -7.27 | 0.12 | -97.12 | 153.78 | 41.98 | 97.09 | -27.69 | 2.91 | 0 | 0.00 | 0 | 17.63 | 10.33 |
| 2022 (9) | 3.52 | -82.12 | -8.31 | 0 | 8.54 | 52.2 | -6.17 | 0 | -3.58 | 0 | -4.37 | 0 | -1.24 | 0 | 0.55 | -31.25 | 4.16 | -73.28 | 108.31 | -19.06 | 134.27 | 15.82 | -34.83 | 0 | 0.00 | 0 | 15.98 | 33.17 |
| 2021 (8) | 19.69 | 80.81 | 10.29 | 960.82 | 5.61 | -22.52 | 8.88 | 0 | 5.63 | 0 | 10.67 | 0 | 5.14 | 0 | 0.80 | 25.0 | 15.57 | 122.11 | 133.82 | -5.39 | 115.93 | 0 | -15.93 | 0 | 0.00 | 0 | 12.00 | -10.31 |
| 2020 (7) | 10.89 | 23.19 | 0.97 | 0 | 7.24 | -4.88 | -1.62 | 0 | -1.23 | 0 | -1.93 | 0 | -0.13 | 0 | 0.64 | 8.47 | 7.01 | 6.37 | 141.44 | -5.82 | -60.71 | 0 | 158.93 | 276.41 | 0.00 | 0 | 13.38 | -16.06 |
| 2019 (6) | 8.84 | 25.57 | -1.52 | 0 | 7.61 | 16.99 | -2.62 | 0 | -5.56 | 0 | -8.00 | 0 | -2.56 | 0 | 0.59 | -6.35 | 6.59 | 26.97 | 150.18 | 9.82 | 57.78 | -34.71 | 42.22 | 267.01 | 0.00 | 0 | 15.94 | 16.95 |
| 2018 (5) | 7.04 | -36.17 | -2.53 | 0 | 6.50 | 1.73 | -2.87 | 0 | -2.26 | 0 | -3.39 | 0 | -0.71 | 0 | 0.63 | 5.0 | 5.19 | -34.72 | 136.75 | -1.08 | 88.50 | -90.59 | 11.50 | 0 | 0.00 | 0 | 13.63 | -11.26 |
| 2017 (4) | 11.03 | -18.18 | 1.21 | -53.1 | 6.39 | -6.15 | 0.12 | -95.06 | -0.02 | 0 | -0.03 | 0 | 0.62 | -53.38 | 0.60 | 3.45 | 7.95 | -25.21 | 138.25 | 6.99 | 940.00 | 790.0 | -840.00 | 0 | 0.00 | 0 | 15.36 | -8.41 |
| 2016 (3) | 13.48 | 46.68 | 2.58 | 0 | 6.81 | -5.58 | 2.43 | 0 | 1.24 | 0 | 1.55 | 0 | 1.33 | 0 | 0.58 | -4.92 | 10.63 | 36.11 | 129.22 | 28.16 | 105.62 | -17.22 | -5.62 | 0 | 0.00 | 0 | 16.77 | 8.75 |
| 2015 (2) | 9.19 | -31.21 | -1.00 | 0 | 7.22 | 20.11 | -0.77 | 0 | -1.11 | 0 | -1.34 | 0 | -0.04 | 0 | 0.61 | -6.15 | 7.81 | -27.82 | 100.83 | 2.75 | 127.59 | 23.19 | -31.03 | 0 | 0.00 | 0 | 15.42 | 8.59 |
| 2014 (1) | 13.36 | 0 | 3.68 | 0 | 6.01 | 10.84 | 3.54 | 0 | 2.22 | 0 | 2.88 | 0 | 2.06 | 0 | 0.65 | 0.0 | 10.82 | 39.43 | 98.13 | -4.86 | 103.57 | -60.95 | -4.29 | 0 | 0.00 | 0 | 14.20 | -0.63 |
