- 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) | 4.78 | 23.83 | 258.28 | -17.06 | -4.92 | 30.4 | 12.41 | 143.32 | 140.89 | -1.98 | 93.29 | 92.88 | -0.60 | 93.93 | 91.07 | 0.10 | 102.68 | 103.6 | 0.13 | -7.14 | 18.18 | 31.69 | 347.58 | 349.72 | 109.75 | -26.66 | -6.57 | -134.78 | -341.82 | -268.48 | 234.78 | 450.84 | 1180.63 | 30.33 | 1.51 | -3.74 |
| 23Q3 (19) | 3.86 | -42.04 | 1019.05 | -16.26 | -57.41 | 21.71 | -28.65 | -70.74 | -122.44 | -29.52 | -49.24 | -106.15 | -9.88 | -47.24 | -157.29 | -3.73 | -45.7 | -152.03 | 0.14 | 0.0 | 16.67 | -12.80 | -892.25 | -839.88 | 149.64 | 8.54 | 23.08 | 55.74 | -9.43 | -65.16 | 42.62 | 10.82 | 171.04 | 29.88 | 1.74 | -12.58 |
| 23Q2 (18) | 6.66 | 230.33 | 10.82 | -10.33 | 76.4 | 9.31 | -16.78 | 64.61 | -291.14 | -19.78 | 55.54 | -211.01 | -6.71 | 22.43 | -264.67 | -2.56 | 28.29 | -333.9 | 0.14 | 55.56 | 7.69 | -1.29 | 94.46 | -114.41 | 137.87 | 4.19 | 14.07 | 61.54 | -33.65 | -76.66 | 38.46 | 430.77 | 123.5 | 29.37 | -22.4 | -18.87 |
| 23Q1 (17) | -5.11 | -69.21 | -166.88 | -43.77 | -78.58 | -435.09 | -47.42 | -56.24 | -459.2 | -44.49 | -59.92 | -366.35 | -8.65 | -28.72 | -183.61 | -3.57 | -28.42 | -210.43 | 0.09 | -18.18 | -35.71 | -23.29 | -83.53 | -846.47 | 132.33 | 12.65 | 7.8 | 92.75 | 15.94 | -7.25 | 7.25 | -60.47 | 73.91 | 37.85 | 20.12 | 14.49 |
| 22Q4 (16) | -3.02 | -619.05 | -137.42 | -24.51 | -18.01 | -205.99 | -30.35 | -135.64 | -160.07 | -27.82 | -94.27 | -117.34 | -6.72 | -75.0 | -52.04 | -2.78 | -87.84 | -37.62 | 0.11 | -8.33 | -38.89 | -12.69 | -833.53 | -571.43 | 117.47 | -3.38 | -1.36 | 80.00 | -50.0 | 18.4 | 18.33 | 130.56 | -43.47 | 31.51 | -7.81 | -1.65 |
| 22Q3 (15) | -0.42 | -106.99 | -103.02 | -20.77 | -82.35 | -1044.09 | -12.88 | -200.23 | -1040.15 | -14.32 | -125.16 | -1945.71 | -3.84 | -108.7 | -1180.0 | -1.48 | -150.85 | -3060.0 | 0.12 | -7.69 | -47.83 | 1.73 | -80.67 | -82.2 | 121.58 | 0.6 | 59.18 | 160.00 | -39.31 | 0.0 | -60.00 | 63.33 | 0.0 | 34.18 | -5.58 | 21.42 |
| 22Q2 (14) | 6.01 | -21.34 | -66.5 | -11.39 | -39.24 | -251.26 | -4.29 | 49.41 | -186.67 | -6.36 | 33.33 | -282.23 | -1.84 | 39.67 | -202.79 | -0.59 | 48.7 | -152.68 | 0.13 | -7.14 | -51.85 | 8.95 | 186.86 | -28.97 | 120.86 | -1.55 | 22.35 | 263.64 | 163.64 | 72.73 | -163.64 | -4027.27 | -210.91 | 36.20 | 9.5 | 45.21 |
| 22Q1 (13) | 7.64 | -5.33 | -21.64 | -8.18 | -2.12 | -1997.44 | -8.48 | 27.34 | -1245.95 | -9.54 | 25.47 | -1206.85 | -3.05 | 31.0 | -824.24 | -1.15 | 43.07 | -2775.0 | 0.14 | -22.22 | -44.0 | 3.12 | 265.08 | -64.94 | 122.76 | 3.08 | 48.75 | 100.00 | 48.0 | 300.0 | 4.17 | -87.15 | -97.92 | 33.06 | 3.18 | 34.23 |
| 21Q4 (12) | 8.07 | -42.07 | -49.81 | -8.01 | -464.09 | -251.7 | -11.67 | -951.82 | -519.78 | -12.80 | -1728.57 | -835.63 | -4.42 | -1373.33 | -659.49 | -2.02 | -4140.0 | -442.37 | 0.18 | -21.74 | -30.77 | -1.89 | -119.44 | -117.75 | 119.09 | 55.92 | 66.84 | 67.57 | -57.77 | -66.22 | 32.43 | 154.05 | 136.49 | 32.04 | 13.82 | 21.55 |
| 21Q3 (11) | 13.93 | -22.35 | -0.43 | 2.20 | -70.78 | -55.28 | 1.37 | -72.32 | -54.79 | -0.70 | -120.06 | -638.46 | -0.30 | -116.76 | -600.0 | 0.05 | -95.54 | -72.22 | 0.23 | -14.81 | -14.81 | 9.72 | -22.86 | -9.92 | 76.38 | -22.68 | -4.24 | 160.00 | 4.83 | -5.88 | -60.00 | -14.0 | 0.0 | 28.15 | 12.92 | 19.89 |
| 21Q2 (10) | 17.94 | 84.0 | 24.15 | 7.53 | 2030.77 | 4.58 | 4.95 | 568.92 | -23.61 | 3.49 | 578.08 | 9.06 | 1.79 | 642.42 | 24.31 | 1.12 | 2900.0 | 7.69 | 0.27 | 8.0 | 3.85 | 12.60 | 41.57 | -14.17 | 98.78 | 19.69 | 37.88 | 152.63 | 405.26 | 33.55 | -52.63 | -126.32 | -452.63 | 24.93 | 1.22 | 0 |
| 21Q1 (9) | 9.75 | -39.37 | 1.88 | -0.39 | -107.39 | 77.59 | 0.74 | -73.38 | 165.49 | -0.73 | -141.95 | 66.05 | -0.33 | -141.77 | 46.77 | -0.04 | -106.78 | 77.78 | 0.25 | -3.85 | 47.06 | 8.90 | -16.43 | -28.11 | 82.53 | 15.62 | 20.6 | -50.00 | -125.0 | -125.0 | 200.00 | 325.0 | 500.0 | 24.63 | -6.56 | -5.12 |
| 20Q4 (8) | 16.08 | 14.94 | 51.27 | 5.28 | 7.32 | 78.98 | 2.78 | -8.25 | 439.02 | 1.74 | 1238.46 | 156.13 | 0.79 | 1216.67 | 165.29 | 0.59 | 227.78 | 203.51 | 0.26 | -3.7 | 13.04 | 10.65 | -1.3 | 29.09 | 71.38 | -10.51 | 2.56 | 200.00 | 17.65 | 144.44 | -88.89 | -48.15 | -116.16 | 26.36 | 12.27 | 0 |
| 20Q3 (7) | 13.99 | -3.18 | -4.05 | 4.92 | -31.67 | 0.2 | 3.03 | -53.24 | -47.76 | 0.13 | -95.94 | -97.1 | 0.06 | -95.83 | -96.59 | 0.18 | -82.69 | -85.0 | 0.27 | 3.85 | 12.5 | 10.79 | -26.5 | -27.39 | 79.76 | 11.33 | 3.84 | 170.00 | 48.75 | 92.67 | -60.00 | -530.0 | -440.0 | 23.48 | 0 | -0.34 |
| 20Q2 (6) | 14.45 | 50.99 | 50.21 | 7.20 | 513.79 | 271.84 | 6.48 | 673.45 | 125.34 | 3.20 | 248.84 | 112.35 | 1.44 | 332.26 | 120.9 | 1.04 | 677.78 | 122.76 | 0.26 | 52.94 | 44.44 | 14.68 | 18.58 | 214.69 | 71.64 | 4.69 | 34.92 | 114.29 | -42.86 | 585.71 | -9.52 | 80.95 | -111.43 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 9.57 | -9.97 | 65.0 | -1.74 | -158.98 | 78.78 | -1.13 | -37.8 | 86.8 | -2.15 | 30.65 | 76.24 | -0.62 | 48.76 | 70.05 | -0.18 | 68.42 | 87.5 | 0.17 | -26.09 | 6.25 | 12.38 | 50.06 | 158.46 | 68.43 | -1.68 | 75.28 | 200.00 | 144.44 | 113.33 | -50.00 | -109.09 | -900.0 | 25.96 | 0 | -20.02 |
| 19Q4 (4) | 10.63 | -27.09 | 0.0 | 2.95 | -39.92 | 0.0 | -0.82 | -114.14 | 0.0 | -3.10 | -169.04 | 0.0 | -1.21 | -168.75 | 0.0 | -0.57 | -147.5 | 0.0 | 0.23 | -4.17 | 0.0 | 8.25 | -44.48 | 0.0 | 69.60 | -9.39 | 0.0 | -450.00 | -610.0 | 0.0 | 550.00 | 3016.67 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 14.58 | 51.56 | 0.0 | 4.91 | 217.18 | 0.0 | 5.80 | 122.68 | 0.0 | 4.49 | 117.32 | 0.0 | 1.76 | 125.54 | 0.0 | 1.20 | 126.26 | 0.0 | 0.24 | 33.33 | 0.0 | 14.86 | 216.09 | 0.0 | 76.81 | 44.65 | 0.0 | 88.24 | 429.41 | 0.0 | 17.65 | -78.82 | 0.0 | 23.56 | -22.93 | 0.0 |
| 19Q2 (2) | 9.62 | 65.86 | 0.0 | -4.19 | 48.9 | 0.0 | -25.57 | -198.71 | 0.0 | -25.92 | -186.41 | 0.0 | -6.89 | -232.85 | 0.0 | -4.57 | -217.36 | 0.0 | 0.18 | 12.5 | 0.0 | -12.80 | -367.22 | 0.0 | 53.10 | 36.01 | 0.0 | 16.67 | -82.22 | 0.0 | 83.33 | 1233.33 | 0.0 | 30.57 | -5.82 | 0.0 |
| 19Q1 (1) | 5.80 | 0.0 | 0.0 | -8.20 | 0.0 | 0.0 | -8.56 | 0.0 | 0.0 | -9.05 | 0.0 | 0.0 | -2.07 | 0.0 | 0.0 | -1.44 | 0.0 | 0.0 | 0.16 | 0.0 | 0.0 | 4.79 | 0.0 | 0.0 | 39.04 | 0.0 | 0.0 | 93.75 | 0.0 | 0.0 | 6.25 | 0.0 | 0.0 | 32.46 | 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) | 3.23 | 2.87 | -19.86 | 0 | 15.01 | 31.54 | -18.93 | 0 | -22.91 | 0 | -25.71 | 0 | -10.69 | 0 | 0.52 | -1.89 | -0.65 | 0 | 109.75 | -6.57 | 105.48 | -11.51 | -4.79 | 0 | 0.80 | 13.62 | 31.34 | -7.39 |
| 2022 (9) | 3.14 | -75.3 | -15.32 | 0 | 11.41 | 55.61 | -12.84 | 0 | -13.53 | 0 | -15.62 | 0 | -6.10 | 0 | 0.53 | -38.37 | 1.13 | -85.31 | 117.47 | -1.36 | 119.20 | 0 | -19.20 | 0 | 0.70 | 55.02 | 33.84 | 24.0 |
| 2021 (8) | 12.71 | -8.76 | 0.74 | -83.48 | 7.33 | -7.95 | -0.74 | 0 | -2.29 | 0 | -3.87 | 0 | -1.24 | 0 | 0.86 | -9.47 | 7.69 | -36.29 | 119.09 | 66.84 | -100.00 | 0 | 210.00 | 0 | 0.45 | -34.14 | 27.29 | 9.29 |
| 2020 (7) | 13.93 | 30.43 | 4.48 | 0 | 7.96 | -19.05 | 3.17 | 0 | 1.01 | 0 | 1.64 | 0 | 1.63 | 0 | 0.95 | 15.85 | 12.07 | 138.07 | 71.38 | 2.56 | 141.03 | 7656.41 | -41.03 | 0 | 0.69 | -13.66 | 24.97 | -7.59 |
| 2019 (6) | 10.68 | 0 | -0.12 | 0 | 9.84 | -37.55 | -5.60 | 0 | -6.83 | 0 | -8.62 | 0 | -5.13 | 0 | 0.82 | 51.85 | 5.07 | 0 | 69.60 | 77.23 | 1.82 | -98.38 | 98.18 | 0 | 0.80 | -7.99 | 27.02 | -30.52 |
| 2018 (5) | -5.48 | 0 | -26.49 | 0 | 15.75 | 0.13 | -23.67 | 0 | -24.07 | 0 | -18.66 | 0 | -12.61 | 0 | 0.54 | 10.2 | -6.89 | 0 | 39.27 | -15.6 | 111.90 | 43.98 | -11.90 | 0 | 0.87 | 0 | 38.89 | 23.62 |
| 2017 (4) | 4.97 | -36.77 | -18.30 | 0 | 15.73 | -15.16 | -23.57 | 0 | -23.69 | 0 | -17.41 | 0 | -11.26 | 0 | 0.49 | 11.36 | -6.71 | 0 | 46.53 | -8.48 | 77.72 | -47.78 | 22.28 | 0 | 0.00 | 0 | 31.46 | 4.0 |
| 2016 (3) | 7.86 | -34.34 | -13.77 | 0 | 18.54 | 68.32 | -9.26 | 0 | -11.12 | 0 | -7.85 | 0 | -4.33 | 0 | 0.44 | -26.67 | 11.04 | -9.36 | 50.84 | -25.16 | 148.84 | -28.34 | -48.84 | 0 | 0.00 | 0 | 30.25 | 39.98 |
| 2015 (2) | 11.97 | 6.68 | -1.63 | 0 | 11.02 | 34.82 | -0.81 | 0 | -4.85 | 0 | -5.37 | 0 | -2.20 | 0 | 0.60 | -14.29 | 12.18 | 137.43 | 67.93 | -33.65 | 207.69 | 273.14 | -100.00 | 0 | 0.00 | 0 | 21.61 | 30.1 |
| 2014 (1) | 11.22 | 0 | -2.68 | 0 | 8.17 | -25.24 | -4.80 | 0 | -6.36 | 0 | -8.41 | 0 | -3.66 | 0 | 0.70 | 20.69 | 5.13 | -63.25 | 102.38 | 29.25 | 55.66 | 0 | 44.34 | -93.9 | 0.00 | 0 | 16.61 | -24.26 |
