- 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) | 5.08 | -8.96 | -12.56 | -3.04 | 16.48 | -22.09 | -5.94 | -564.06 | 38.83 | -4.81 | -3535.71 | 41.98 | -1.73 | -3560.0 | 42.33 | -1.15 | -1145.45 | 38.83 | 0.25 | 0.0 | 4.17 | -1.79 | -130.86 | 57.98 | 48.79 | 38.77 | -3.33 | 53.85 | 120.19 | 106.41 | 46.15 | -87.41 | -37.56 | 16.00 | -7.3 | 2.83 |
| 23Q3 (19) | 5.58 | 211.73 | 196.81 | -3.64 | 53.15 | 58.49 | 1.28 | 121.23 | 147.58 | 0.14 | 102.1 | 106.14 | 0.05 | 102.1 | 105.56 | 0.11 | 107.24 | 125.0 | 0.25 | 4.17 | -3.85 | 5.80 | 536.09 | 154.39 | 35.16 | -27.74 | -29.23 | -266.67 | -307.41 | -181.16 | 366.67 | 1383.33 | 260.42 | 17.26 | 1.89 | 7.54 |
| 23Q2 (18) | 1.79 | -79.5 | -68.87 | -7.77 | -1538.89 | -125.22 | -6.03 | -1686.84 | -801.16 | -6.66 | -11200.0 | -912.2 | -2.38 | -12000.0 | -950.0 | -1.52 | -1620.0 | -733.33 | 0.24 | -11.11 | -4.0 | -1.33 | -125.98 | -130.16 | 48.66 | 1.99 | -14.57 | 128.57 | 28.57 | 132.14 | -28.57 | 0 | -105.71 | 16.94 | 11.08 | 2.42 |
| 23Q1 (17) | 8.73 | 50.26 | 19.75 | 0.54 | 121.69 | 104.3 | 0.38 | 103.91 | 104.09 | 0.06 | 100.72 | 100.61 | 0.02 | 100.67 | 101.02 | 0.10 | 105.32 | 107.3 | 0.27 | 12.5 | 92.86 | 5.12 | 220.19 | 340.38 | 47.71 | -5.47 | 192.52 | 100.00 | 283.33 | -25.0 | 0.00 | -100.0 | 100.0 | 15.25 | -1.99 | -53.82 |
| 22Q4 (16) | 5.81 | 209.04 | -0.34 | -2.49 | 71.61 | 62.67 | -9.71 | -260.97 | 75.8 | -8.29 | -263.6 | 78.18 | -3.00 | -233.33 | 76.92 | -1.88 | -327.27 | 72.35 | 0.24 | -7.69 | 33.33 | -4.26 | -286.84 | 86.97 | 50.47 | 1.59 | -42.08 | 26.09 | -92.06 | 56.52 | 73.91 | 132.34 | -11.3 | 15.56 | -3.05 | -38.5 |
| 22Q3 (15) | 1.88 | -67.3 | -80.82 | -8.77 | -154.2 | 32.02 | -2.69 | -412.79 | -133.92 | -2.28 | -378.05 | -127.74 | -0.90 | -421.43 | -129.32 | -0.44 | -283.33 | -126.99 | 0.26 | 4.0 | 36.84 | 2.28 | -48.3 | -86.44 | 49.68 | -12.78 | -45.46 | 328.57 | 182.14 | 297.14 | -228.57 | -145.71 | -182.29 | 16.05 | -2.96 | -45.09 |
| 22Q2 (14) | 5.75 | -21.12 | -46.96 | -3.45 | 72.51 | 82.12 | 0.86 | 109.25 | 103.4 | 0.82 | 108.29 | 103.28 | 0.28 | 114.21 | 103.23 | 0.24 | 117.52 | 105.53 | 0.25 | 78.57 | 38.89 | 4.41 | 307.04 | 126.45 | 56.96 | 249.23 | -45.44 | -400.00 | -400.0 | -627.27 | 500.00 | 1600.0 | 1971.43 | 16.54 | -49.91 | -46.59 |
| 22Q1 (13) | 7.29 | 25.04 | -42.19 | -12.55 | -88.16 | 17.87 | -9.30 | 76.82 | -52.21 | -9.89 | 73.97 | -50.76 | -1.97 | 84.85 | -1.03 | -1.37 | 79.85 | -41.24 | 0.14 | -22.22 | -12.5 | -2.13 | 93.48 | -154.9 | 16.31 | -81.28 | -81.63 | 133.33 | 700.0 | -50.0 | -33.33 | -140.0 | 77.78 | 33.02 | 30.51 | -9.9 |
| 21Q4 (12) | 5.83 | -40.51 | 207.76 | -6.67 | 48.29 | 87.96 | -40.12 | -605.93 | 70.1 | -38.00 | -562.29 | 69.87 | -13.00 | -523.45 | 50.06 | -6.80 | -517.18 | 55.06 | 0.18 | -5.26 | 50.0 | -32.69 | -294.47 | 72.31 | 87.14 | -4.34 | 3.57 | 16.67 | 110.0 | -59.42 | 83.33 | -70.0 | 41.41 | 25.30 | -13.45 | -17.32 |
| 21Q3 (11) | 9.80 | -9.59 | 153.23 | -12.90 | 33.16 | 71.41 | 7.93 | 131.39 | 117.71 | 8.22 | 132.87 | 118.19 | 3.07 | 135.41 | 136.59 | 1.63 | 137.56 | 131.41 | 0.19 | 5.56 | 58.33 | 16.81 | 200.84 | 159.84 | 91.09 | -12.75 | 49.45 | -166.67 | -319.7 | -266.67 | 277.78 | 1050.79 | 0 | 29.23 | -5.62 | -24.96 |
| 21Q2 (10) | 10.84 | -14.04 | 26.64 | -19.30 | -26.31 | 27.09 | -25.26 | -313.42 | -13.78 | -25.01 | -281.25 | -13.01 | -8.67 | -344.62 | -66.09 | -4.34 | -347.42 | -32.32 | 0.18 | 12.5 | 20.0 | -16.67 | -529.64 | -68.04 | 104.40 | 17.61 | 80.69 | 75.86 | -71.55 | -35.99 | 24.14 | 116.09 | 230.34 | 30.97 | -15.5 | 0 |
| 21Q1 (9) | 12.61 | 333.09 | 1133.61 | -15.28 | 72.41 | 72.37 | -6.11 | 95.45 | 89.59 | -6.56 | 94.8 | 88.98 | -1.95 | 92.51 | 81.53 | -0.97 | 93.59 | 85.78 | 0.16 | 33.33 | 33.33 | 3.88 | 103.29 | 108.45 | 88.77 | 5.5 | 64.82 | 266.67 | 549.28 | 186.42 | -150.00 | -354.55 | -3000.0 | 36.65 | 19.77 | 0 |
| 20Q4 (8) | -5.41 | -239.79 | -157.31 | -55.39 | -22.76 | -108.78 | -134.16 | -199.6 | -242.59 | -126.12 | -179.09 | -219.05 | -26.03 | -210.25 | -158.75 | -15.13 | -191.52 | -135.67 | 0.12 | 0.0 | -25.0 | -118.07 | -320.33 | -281.24 | 84.14 | 38.05 | 62.18 | 41.07 | -58.93 | -38.89 | 58.93 | 0 | 79.73 | 30.60 | -21.44 | -5.61 |
| 20Q3 (7) | 3.87 | -54.79 | -71.1 | -45.12 | -70.46 | -219.55 | -44.78 | -101.71 | -195.19 | -45.19 | -104.2 | -195.55 | -8.39 | -60.73 | -89.82 | -5.19 | -58.23 | -86.02 | 0.12 | -20.0 | -36.84 | -28.09 | -183.17 | -228.15 | 60.95 | 5.49 | 5.32 | 100.00 | -15.62 | 7.69 | -0.00 | 100.0 | -100.0 | 38.95 | 0 | 42.78 |
| 20Q2 (6) | 8.56 | 801.64 | -34.15 | -26.47 | 52.14 | 11.88 | -22.20 | 62.19 | 41.96 | -22.13 | 62.81 | 41.46 | -5.22 | 50.57 | 25.32 | -3.28 | 51.91 | 28.7 | 0.15 | 25.0 | 25.0 | -9.92 | 78.4 | 64.29 | 57.78 | 7.28 | 12.09 | 118.52 | 27.3 | 49.71 | -18.52 | -458.02 | -188.89 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | -1.22 | -112.92 | -119.03 | -55.31 | -108.48 | -75.31 | -58.72 | -49.95 | -134.13 | -59.51 | -50.54 | -135.31 | -10.56 | -4.97 | -206.09 | -6.82 | -6.23 | -193.97 | 0.12 | -25.0 | 33.33 | -45.92 | -48.27 | -242.69 | 53.86 | 3.82 | 13.75 | 93.10 | 38.52 | -27.92 | 5.17 | -84.22 | 120.69 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 9.44 | -29.5 | 0.0 | -26.53 | -87.89 | 0.0 | -39.16 | -158.14 | 0.0 | -39.53 | -158.53 | 0.0 | -10.06 | -127.6 | 0.0 | -6.42 | -130.11 | 0.0 | 0.16 | -15.79 | 0.0 | -30.97 | -261.8 | 0.0 | 51.88 | -10.35 | 0.0 | 67.21 | -27.62 | 0.0 | 32.79 | 359.02 | 0.0 | 32.42 | 18.84 | 0.0 |
| 19Q3 (3) | 13.39 | 3.0 | 0.0 | -14.12 | 53.0 | 0.0 | -15.17 | 60.34 | 0.0 | -15.29 | 59.55 | 0.0 | -4.42 | 36.77 | 0.0 | -2.79 | 39.35 | 0.0 | 0.19 | 58.33 | 0.0 | -8.56 | 69.19 | 0.0 | 57.87 | 12.26 | 0.0 | 92.86 | 17.29 | 0.0 | 7.14 | -65.71 | 0.0 | 27.28 | -40.95 | 0.0 |
| 19Q2 (2) | 13.00 | 102.81 | 0.0 | -30.04 | 4.79 | 0.0 | -38.25 | -52.51 | 0.0 | -37.80 | -49.47 | 0.0 | -6.99 | -102.61 | 0.0 | -4.60 | -98.28 | 0.0 | 0.12 | 33.33 | 0.0 | -27.78 | -107.31 | 0.0 | 51.55 | 8.87 | 0.0 | 79.17 | -38.71 | 0.0 | 20.83 | 183.33 | 0.0 | 46.20 | -2.55 | 0.0 |
| 19Q1 (1) | 6.41 | 0.0 | 0.0 | -31.55 | 0.0 | 0.0 | -25.08 | 0.0 | 0.0 | -25.29 | 0.0 | 0.0 | -3.45 | 0.0 | 0.0 | -2.32 | 0.0 | 0.0 | 0.09 | 0.0 | 0.0 | -13.40 | 0.0 | 0.0 | 47.35 | 0.0 | 0.0 | 129.17 | 0.0 | 0.0 | -25.00 | 0.0 | 0.0 | 47.41 | 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) | 5.40 | 14.89 | -3.36 | 0 | 3.88 | -6.44 | -2.49 | 0 | -2.73 | 0 | -4.03 | 0 | -2.40 | 0 | 0.99 | -10.0 | 2.16 | 483.78 | 48.79 | -3.33 | 134.78 | 1.77 | -34.78 | 0 | 5.65 | -1.04 | 16.33 | -9.28 |
| 2022 (9) | 4.70 | -51.99 | -5.93 | 0 | 4.15 | -46.34 | -4.48 | 0 | -4.02 | 0 | -7.13 | 0 | -3.96 | 0 | 1.10 | 46.67 | 0.37 | 0 | 50.47 | -42.08 | 132.43 | 47.88 | -32.43 | 0 | 5.71 | 0 | 18.00 | -40.96 |
| 2021 (8) | 9.79 | 375.24 | -13.64 | 0 | 7.73 | -40.76 | -15.31 | 0 | -14.77 | 0 | -20.50 | 0 | -10.73 | 0 | 0.75 | 47.06 | -6.82 | 0 | 87.14 | 3.57 | 89.55 | 22.87 | 10.45 | -60.86 | 0.00 | 0 | 30.49 | -28.53 |
| 2020 (7) | 2.06 | -81.31 | -44.12 | 0 | 13.04 | 63.48 | -60.36 | 0 | -58.92 | 0 | -49.31 | 0 | -29.73 | 0 | 0.51 | -13.56 | -46.04 | 0 | 84.14 | 62.18 | 72.88 | -13.72 | 26.69 | 65.3 | 1.09 | -68.9 | 42.66 | 17.36 |
| 2019 (6) | 11.02 | 15.15 | -24.06 | 0 | 7.98 | 26.28 | -28.59 | 0 | -28.67 | 0 | -24.77 | 0 | -16.57 | 0 | 0.59 | 37.21 | -19.86 | 0 | 51.88 | 21.13 | 84.47 | -27.6 | 16.15 | 0 | 3.49 | 349.97 | 36.35 | -5.36 |
| 2018 (5) | 9.57 | -33.12 | -18.19 | 0 | 6.32 | 9.75 | -15.76 | 0 | -16.11 | 0 | -9.88 | 0 | -6.77 | 0 | 0.43 | 13.16 | -8.71 | 0 | 42.83 | 8.13 | 116.67 | -30.0 | -15.28 | 0 | 0.78 | 0 | 38.41 | 12.34 |
| 2017 (4) | 14.31 | -6.23 | -6.42 | 0 | 5.76 | -25.75 | -3.90 | 0 | -3.81 | 0 | -2.13 | 0 | -1.17 | 0 | 0.38 | 11.76 | 2.77 | 0 | 39.61 | -21.69 | 166.67 | 418.52 | -66.67 | 0 | 0.00 | 0 | 34.19 | -3.14 |
| 2016 (3) | 15.26 | -5.51 | -16.08 | 0 | 7.75 | 68.58 | -50.11 | 0 | -49.45 | 0 | -24.26 | 0 | -16.53 | 0 | 0.34 | -33.33 | -41.15 | 0 | 50.58 | 29.33 | 32.14 | -53.93 | 67.86 | 108.42 | 0.00 | 0 | 35.30 | 35.46 |
| 2015 (2) | 16.15 | -20.36 | -3.89 | 0 | 4.60 | 29.73 | -5.67 | 0 | -6.74 | 0 | -4.77 | 0 | -3.21 | 0 | 0.51 | -19.05 | -0.53 | 0 | 39.11 | 0.8 | 69.77 | 41.94 | 32.56 | -33.76 | 0.00 | 0 | 26.06 | 6.41 |
| 2014 (1) | 20.28 | 0 | 3.56 | 0 | 3.55 | -17.63 | 7.17 | 0 | 6.02 | 0 | 5.07 | 0 | 4.00 | 0 | 0.63 | -8.7 | 11.12 | -18.42 | 38.80 | 32.29 | 49.15 | -34.46 | 49.15 | 96.61 | 0.00 | 0 | 24.49 | 0.49 |
