- 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) | -4.88 | -172.19 | -122.6 | -51.94 | 12.54 | -203.21 | -102.54 | -71.82 | -388.98 | -103.78 | -69.46 | -394.9 | -23.15 | -76.05 | -344.34 | -13.53 | -98.68 | -473.31 | 0.13 | 18.18 | 8.33 | -83.15 | -132.26 | -8332.67 | 85.39 | 52.51 | -24.03 | 50.27 | -49.2 | -39.38 | 49.18 | 0 | 152.05 | 46.54 | -28.32 | 2.76 |
| 23Q3 (19) | 6.76 | -26.76 | -75.51 | -59.39 | -35.32 | -621.63 | -59.68 | -44.15 | -1535.07 | -61.24 | -47.53 | -1596.4 | -13.15 | -34.87 | -1189.22 | -6.81 | -67.32 | -1740.54 | 0.11 | 10.0 | -21.43 | -35.80 | -139.63 | -321.53 | 55.99 | -57.4 | -42.73 | 98.97 | -6.85 | -58.33 | -0.00 | 100.0 | 100.0 | 64.93 | 11.24 | 55.41 |
| 23Q2 (18) | 9.23 | 68.12 | -70.08 | -43.89 | 17.39 | -2776.22 | -41.40 | 27.47 | -758.19 | -41.51 | 27.28 | -769.52 | -9.75 | 7.41 | -562.09 | -4.07 | 12.28 | -453.91 | 0.10 | 25.0 | -37.5 | -14.94 | 42.38 | -158.68 | 131.44 | 7.18 | 20.69 | 106.25 | 13.63 | 351.56 | -6.25 | -196.25 | -108.17 | 58.37 | -11.89 | 61.07 |
| 23Q1 (17) | 5.49 | -74.57 | -76.05 | -53.13 | -210.16 | -1440.0 | -57.08 | -172.2 | -1130.17 | -57.08 | -172.2 | -1162.83 | -10.53 | -102.11 | -530.54 | -4.64 | -96.61 | -686.44 | 0.08 | -33.33 | -52.94 | -25.93 | -2667.33 | -272.06 | 122.64 | 9.11 | 1.69 | 93.51 | 12.76 | 30.91 | 6.49 | -66.72 | -69.7 | 66.25 | 46.28 | 87.52 |
| 22Q4 (16) | 21.59 | -21.78 | 35.28 | -17.13 | -108.14 | -94.0 | -20.97 | -474.52 | -105.99 | -20.97 | -480.89 | -114.86 | -5.21 | -410.78 | -33.59 | -2.36 | -537.84 | -48.43 | 0.12 | -14.29 | -33.33 | 1.01 | -93.75 | -89.84 | 112.40 | 14.96 | -9.9 | 82.93 | -65.08 | -2.26 | 19.51 | 115.61 | 60.98 | 45.29 | 8.4 | 31.28 |
| 22Q3 (15) | 27.60 | -10.53 | 43.45 | -8.23 | -601.83 | 23.08 | -3.65 | -158.03 | 65.89 | -3.61 | -158.23 | 69.09 | -1.02 | -148.34 | 76.11 | -0.37 | -132.17 | 78.74 | 0.14 | -12.5 | -12.5 | 16.16 | -36.53 | 30.11 | 97.77 | -10.23 | -21.3 | 237.50 | 909.38 | 137.5 | -125.00 | -263.46 | 0 | 41.78 | 15.29 | 9.29 |
| 22Q2 (14) | 30.85 | 34.6 | 43.02 | 1.64 | 147.54 | 121.9 | 6.29 | 235.56 | 166.21 | 6.20 | 237.17 | 158.6 | 2.11 | 226.35 | 152.62 | 1.15 | 294.92 | 172.33 | 0.16 | -5.88 | -5.88 | 25.46 | 68.94 | 78.79 | 108.91 | -9.69 | -14.49 | 23.53 | -67.06 | -70.82 | 76.47 | 256.86 | 238.66 | 36.24 | 2.58 | 3.07 |
| 22Q1 (13) | 22.92 | 43.61 | 59.94 | -3.45 | 60.93 | 64.69 | -4.64 | 54.42 | 55.13 | -4.52 | 53.69 | 58.19 | -1.67 | 57.18 | 60.71 | -0.59 | 62.89 | 65.29 | 0.17 | -5.56 | 0.0 | 15.07 | 51.61 | 13.82 | 120.60 | -3.33 | -8.34 | 71.43 | -15.82 | -24.49 | 21.43 | 76.79 | 296.43 | 35.33 | 2.41 | 9.52 |
| 21Q4 (12) | 15.96 | -17.05 | -29.82 | -8.83 | 17.48 | -791.92 | -10.18 | 4.86 | -123.25 | -9.76 | 16.44 | -89.51 | -3.90 | 8.67 | -104.19 | -1.59 | 8.62 | -137.31 | 0.18 | 12.5 | 12.5 | 9.94 | -19.97 | -51.44 | 124.75 | 0.42 | -3.17 | 84.85 | -15.15 | 352.53 | 12.12 | 0 | -83.84 | 34.50 | -9.76 | 3.45 |
| 21Q3 (11) | 19.24 | -10.8 | -26.76 | -10.70 | -42.86 | -277.74 | -10.70 | -12.63 | -388.41 | -11.68 | -10.4 | -531.0 | -4.27 | -6.48 | -455.83 | -1.74 | -9.43 | -371.87 | 0.16 | -5.88 | -11.11 | 12.42 | -12.78 | -50.56 | 124.23 | -2.47 | -7.79 | 100.00 | 24.0 | -37.5 | -0.00 | -100.0 | 100.0 | 38.23 | 8.73 | 40.24 |
| 21Q2 (10) | 21.57 | 50.52 | -4.05 | -7.49 | 23.34 | -215.41 | -9.50 | 8.12 | -301.27 | -10.58 | 2.13 | -324.15 | -4.01 | 5.65 | -275.11 | -1.59 | 6.47 | -252.88 | 0.17 | 0.0 | -10.53 | 14.24 | 7.55 | -42.77 | 127.37 | -3.19 | -15.66 | 80.65 | -14.75 | -39.52 | 22.58 | 317.74 | 159.27 | 35.16 | 8.99 | 0 |
| 21Q1 (9) | 14.33 | -36.98 | -22.71 | -9.77 | -886.87 | -369.71 | -10.34 | -126.75 | -186.43 | -10.81 | -109.9 | -199.45 | -4.25 | -122.51 | -212.5 | -1.70 | -153.73 | -400.0 | 0.17 | 6.25 | 21.43 | 13.24 | -35.32 | -41.7 | 131.57 | 2.12 | -19.04 | 94.59 | 404.5 | 62.16 | 5.41 | -92.79 | -87.03 | 32.26 | -3.27 | 0 |
| 20Q4 (8) | 22.74 | -13.44 | 405.65 | -0.99 | -116.45 | 96.83 | -4.56 | -222.91 | 86.77 | -5.15 | -290.04 | 85.06 | -1.91 | -259.17 | 85.0 | -0.67 | -204.69 | 85.95 | 0.16 | -11.11 | 14.29 | 20.47 | -18.51 | 319.64 | 128.84 | -4.36 | -19.61 | 18.75 | -88.28 | -79.39 | 75.00 | 225.0 | 731.82 | 33.35 | 22.34 | 0 |
| 20Q3 (7) | 26.27 | 16.86 | 73.97 | 6.02 | -7.24 | 242.99 | 3.71 | -21.4 | 181.9 | 2.71 | -42.58 | 159.82 | 1.20 | -47.6 | 165.57 | 0.64 | -38.46 | 218.52 | 0.18 | -5.26 | 12.5 | 25.12 | 0.96 | 39.87 | 134.72 | -10.79 | -12.95 | 160.00 | 20.0 | 78.82 | -60.00 | -57.5 | -1240.0 | 27.26 | 0 | -9.65 |
| 20Q2 (6) | 22.48 | 21.25 | 1246.11 | 6.49 | 412.02 | 126.53 | 4.72 | 230.75 | 118.94 | 4.72 | 230.75 | 118.94 | 2.29 | 268.38 | 126.63 | 1.04 | 405.88 | 133.02 | 0.19 | 35.71 | 46.15 | 24.88 | 9.56 | 2161.82 | 151.02 | -7.07 | -1.5 | 133.33 | 128.57 | 36.33 | -38.10 | -191.43 | -1833.33 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 18.54 | 349.19 | 112.37 | -2.08 | 93.34 | 92.49 | -3.61 | 89.52 | 87.18 | -3.61 | 89.52 | 87.18 | -1.36 | 89.32 | 83.37 | -0.34 | 92.87 | 88.55 | 0.14 | 0.0 | 27.27 | 22.71 | 343.67 | 1127.57 | 162.51 | 1.4 | -1.03 | 58.33 | -35.89 | -40.37 | 41.67 | 362.12 | 1816.67 | 0.00 | 0 | -100.0 |
| 19Q4 (4) | -7.44 | -149.27 | 0.0 | -31.22 | -641.57 | 0.0 | -34.46 | -660.71 | 0.0 | -34.46 | -660.71 | 0.0 | -12.73 | -595.63 | 0.0 | -4.77 | -783.33 | 0.0 | 0.14 | -12.5 | 0.0 | -9.32 | -151.89 | 0.0 | 160.27 | 3.56 | 0.0 | 90.98 | 1.69 | 0.0 | 9.02 | 71.31 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 15.10 | 804.19 | 0.0 | -4.21 | 82.79 | 0.0 | -4.53 | 81.82 | 0.0 | -4.53 | 81.82 | 0.0 | -1.83 | 78.72 | 0.0 | -0.54 | 82.86 | 0.0 | 0.16 | 23.08 | 0.0 | 17.96 | 1532.73 | 0.0 | 154.76 | 0.94 | 0.0 | 89.47 | -8.52 | 0.0 | 5.26 | 139.47 | 0.0 | 30.17 | -14.36 | 0.0 |
| 19Q2 (2) | 1.67 | -80.87 | 0.0 | -24.46 | 11.63 | 0.0 | -24.92 | 11.54 | 0.0 | -24.92 | 11.54 | 0.0 | -8.60 | -5.13 | 0.0 | -3.15 | -6.06 | 0.0 | 0.13 | 18.18 | 0.0 | 1.10 | -40.54 | 0.0 | 153.32 | -6.63 | 0.0 | 97.80 | -0.02 | 0.0 | 2.20 | 1.1 | 0.0 | 35.23 | -11.99 | 0.0 |
| 19Q1 (1) | 8.73 | 0.0 | 0.0 | -27.68 | 0.0 | 0.0 | -28.17 | 0.0 | 0.0 | -28.17 | 0.0 | 0.0 | -8.18 | 0.0 | 0.0 | -2.97 | 0.0 | 0.0 | 0.11 | 0.0 | 0.0 | 1.85 | 0.0 | 0.0 | 164.20 | 0.0 | 0.0 | 97.83 | 0.0 | 0.0 | 2.17 | 0.0 | 0.0 | 40.03 | 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) | 3.80 | -85.33 | -52.14 | 0 | 22.06 | 20.68 | -66.75 | 0 | -67.53 | 0 | -57.63 | 0 | -28.06 | 0 | 0.43 | -25.86 | -41.90 | 0 | 85.39 | -24.03 | 78.15 | -38.02 | 21.85 | 0 | 1.00 | 9.05 | 58.41 | 49.54 |
| 2022 (9) | 25.91 | 46.47 | -5.89 | 0 | 18.28 | -13.89 | -4.68 | 0 | -4.66 | 0 | -5.89 | 0 | -2.06 | 0 | 0.58 | -14.71 | 15.25 | 22.98 | 112.40 | -9.9 | 126.09 | 39.63 | -26.09 | 0 | 0.91 | -9.56 | 39.06 | 11.82 |
| 2021 (8) | 17.69 | -21.97 | -9.18 | 0 | 21.23 | -1.47 | -10.18 | 0 | -10.70 | 0 | -16.40 | 0 | -6.62 | 0 | 0.68 | 0.0 | 12.40 | -47.14 | 124.75 | -3.17 | 90.30 | -82.8 | 9.70 | 0 | 1.01 | 12.07 | 34.93 | 23.43 |
| 2020 (7) | 22.67 | 369.36 | 2.77 | 0 | 21.55 | -9.77 | 0.51 | 0 | 0.11 | 0 | 0.18 | 0 | 0.70 | 0 | 0.68 | 23.64 | 23.46 | 557.14 | 128.84 | -19.61 | 525.00 | 452.36 | -425.00 | 0 | 0.90 | 6.49 | 28.30 | -17.42 |
| 2019 (6) | 4.83 | -61.91 | -21.10 | 0 | 23.88 | 36.59 | -22.20 | 0 | -22.20 | 0 | -31.46 | 0 | -11.47 | 0 | 0.55 | -14.06 | 3.57 | -62.97 | 160.27 | 2.27 | 95.05 | -5.98 | 4.95 | 0 | 0.85 | 55.89 | 34.27 | 11.92 |
| 2018 (5) | 12.68 | 0 | -9.25 | 0 | 17.49 | -1.63 | -9.14 | 0 | -9.04 | 0 | -14.80 | 0 | -5.21 | 0 | 0.64 | 23.08 | 9.64 | 0 | 156.72 | 1.57 | 101.09 | 18.82 | -1.09 | 0 | 0.54 | 0 | 30.62 | -2.3 |
| 2017 (4) | -5.52 | 0 | -32.03 | 0 | 17.78 | 107.23 | -37.61 | 0 | -36.79 | 0 | -39.07 | 0 | -18.36 | 0 | 0.52 | -43.48 | -17.88 | 0 | 154.29 | 101.98 | 85.07 | -20.95 | 14.78 | 0 | 0.00 | 0 | 31.34 | 39.04 |
| 2016 (3) | 22.96 | -28.21 | 8.21 | -59.05 | 8.58 | 98.33 | 7.63 | -62.04 | 6.52 | -62.14 | 11.05 | -72.33 | 6.36 | -72.29 | 0.92 | -30.3 | 16.94 | -31.28 | 76.39 | -15.15 | 107.61 | 7.85 | -7.61 | 0 | 0.00 | 0 | 22.54 | -0.66 |
| 2015 (2) | 31.98 | 26.65 | 20.05 | 44.56 | 4.32 | -31.09 | 20.10 | 38.62 | 17.22 | 42.9 | 39.93 | 111.94 | 22.95 | 77.63 | 1.32 | 25.71 | 24.65 | 16.27 | 90.03 | 64.53 | 99.78 | 4.26 | 0.22 | -94.89 | 0.00 | 0 | 22.69 | 4.66 |
| 2014 (1) | 25.25 | 0 | 13.87 | 0 | 6.28 | -9.72 | 14.50 | 0 | 12.05 | 0 | 18.84 | 0 | 12.92 | 0 | 1.05 | 8.25 | 21.20 | 54.74 | 54.72 | 24.0 | 95.70 | -3.47 | 4.30 | 402.87 | 0.00 | 0 | 21.68 | -10.56 |
