- 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) | -3.33 | 36.81 | 80.76 | -118.07 | -17.16 | -11.46 | -179.87 | -16710.28 | -23.19 | -152.60 | -1399.02 | -25.94 | -4.68 | -1276.47 | -46.71 | -3.48 | -1833.33 | -48.72 | 0.02 | 0.0 | 0.0 | -139.29 | -459.83 | -39.29 | 32.43 | 2.95 | -0.09 | 64.71 | 0 | -9.87 | 33.33 | 0 | 18.18 | 52.19 | 6.88 | 39.21 |
| 23Q3 (19) | -5.27 | 73.96 | -161.78 | -100.78 | 19.01 | -48.56 | -1.07 | 98.39 | -103.29 | -10.18 | 82.75 | -145.28 | -0.34 | 80.0 | -140.48 | -0.18 | 85.0 | -126.47 | 0.02 | 0.0 | -33.33 | 38.71 | 316.74 | -39.61 | 31.50 | -7.73 | -2.87 | 0.00 | -100.0 | 100.0 | 0.00 | 100.0 | -100.0 | 48.83 | -4.03 | 15.08 |
| 23Q2 (18) | -20.24 | 28.98 | -349.57 | -124.44 | 14.75 | -99.55 | -66.30 | 38.27 | -6275.0 | -59.00 | 36.2 | -1259.45 | -1.70 | 21.3 | -900.0 | -1.20 | 23.08 | -2300.0 | 0.02 | 0.0 | -33.33 | -17.86 | 65.77 | -159.53 | 34.14 | 10.31 | -17.77 | 188.89 | 38.89 | 0 | -88.89 | -146.91 | 0 | 50.88 | -10.85 | 49.12 |
| 23Q1 (17) | -28.50 | -64.64 | -251.27 | -145.97 | -37.8 | -272.28 | -107.41 | 26.44 | -762.62 | -92.47 | 23.69 | -1193.03 | -2.16 | 32.29 | -626.83 | -1.56 | 33.33 | -533.33 | 0.02 | 0.0 | -33.33 | -52.17 | 47.83 | -230.43 | 30.95 | -4.65 | -19.57 | 136.00 | 89.43 | 154.4 | -36.00 | -227.64 | -110.29 | 57.07 | 52.23 | 112.95 |
| 22Q4 (16) | -17.31 | -302.93 | -186.51 | -105.93 | -56.15 | -119.73 | -146.01 | -548.3 | -246.49 | -121.17 | -639.01 | -232.52 | -3.19 | -479.76 | -94.51 | -2.34 | -444.12 | -110.81 | 0.02 | -33.33 | -33.33 | -100.00 | -256.01 | -571.59 | 32.46 | 0.09 | -17.99 | 71.79 | 135.9 | -37.57 | 28.21 | -90.6 | 288.03 | 37.49 | -11.64 | 44.19 |
| 22Q3 (15) | 8.53 | 5.18 | -67.34 | -67.84 | -8.79 | -129.89 | 32.57 | 3231.73 | 211.66 | 22.48 | 617.97 | 185.28 | 0.84 | 594.12 | 157.14 | 0.68 | 1460.0 | 169.39 | 0.03 | 0.0 | -25.0 | 64.10 | 113.67 | 1045.43 | 32.43 | -21.89 | -22.3 | -200.00 | 0 | -300.0 | 300.00 | 0 | 0 | 42.43 | 24.36 | 46.26 |
| 22Q2 (14) | 8.11 | -56.95 | -36.84 | -62.36 | -59.04 | -7.68 | -1.04 | -106.42 | 97.31 | -4.34 | -151.3 | 86.02 | -0.17 | -141.46 | 85.22 | -0.05 | -113.89 | 93.42 | 0.03 | 0.0 | 0.0 | 30.00 | -25.0 | 700.0 | 41.52 | 7.9 | 0.9 | 0.00 | 100.0 | -100.0 | 0.00 | -100.0 | 100.0 | 34.12 | 27.31 | 2.68 |
| 22Q1 (13) | 18.84 | -5.85 | 18.57 | -39.21 | 18.67 | -16.8 | 16.21 | 138.47 | 233.86 | 8.46 | 123.22 | 170.74 | 0.41 | 125.0 | 170.69 | 0.36 | 132.43 | 200.0 | 0.03 | 0.0 | 0.0 | 40.00 | 368.64 | 202.8 | 38.48 | -2.78 | -1.48 | -250.00 | -317.39 | -183.33 | 350.00 | 2433.33 | 290.91 | 26.80 | 3.08 | 1.55 |
| 21Q4 (12) | 20.01 | -23.39 | -23.27 | -48.21 | -63.37 | -189.55 | -42.14 | -44.46 | -101.43 | -36.44 | -38.24 | -110.03 | -1.64 | -11.56 | -35.54 | -1.11 | -13.27 | -35.37 | 0.03 | -25.0 | -40.0 | -14.89 | -119.62 | -281.79 | 39.58 | -5.17 | 0.3 | 115.00 | 15.0 | 41.54 | -15.00 | 0 | -180.0 | 26.00 | -10.38 | 48.83 |
| 21Q3 (11) | 26.12 | 103.43 | -27.52 | -29.51 | 49.04 | -24491.67 | -29.17 | 24.45 | -174.67 | -26.36 | 15.08 | -155.67 | -1.47 | -27.83 | -93.42 | -0.98 | -28.95 | -100.0 | 0.04 | 33.33 | -20.0 | -6.78 | -35.6 | -211.15 | 41.74 | 1.43 | 9.84 | 100.00 | -30.43 | 0 | -0.00 | 100.0 | -100.0 | 29.01 | -12.7 | 80.52 |
| 21Q2 (10) | 12.84 | -19.19 | -14.91 | -57.91 | -72.51 | -36.03 | -38.61 | -218.83 | 38.0 | -31.04 | -159.53 | 39.2 | -1.15 | -98.28 | 50.85 | -0.76 | -111.11 | 52.2 | 0.03 | 0.0 | 0.0 | -5.00 | -137.85 | 86.32 | 41.15 | 5.35 | 0.96 | 143.75 | -52.08 | 109.09 | -50.00 | 72.73 | -260.0 | 33.23 | 25.92 | 35.52 |
| 21Q1 (9) | 15.89 | -39.07 | -42.22 | -33.57 | -101.62 | -353.04 | -12.11 | 42.11 | -386.35 | -11.96 | 31.07 | -182.08 | -0.58 | 52.07 | -107.14 | -0.36 | 56.1 | -157.14 | 0.03 | -40.0 | -40.0 | 13.21 | 438.72 | -14.11 | 39.06 | -1.01 | -10.84 | 300.00 | 269.23 | 0.0 | -183.33 | -1077.78 | 8.33 | 26.39 | 51.06 | 75.7 |
| 20Q4 (8) | 26.08 | -27.64 | -25.59 | -16.65 | -13775.0 | -452.75 | -20.92 | -96.99 | -72.32 | -17.35 | -68.28 | -195.07 | -1.21 | -59.21 | -124.07 | -0.82 | -67.35 | -148.48 | 0.05 | 0.0 | -28.57 | -3.90 | -163.93 | 0 | 39.46 | 3.84 | 2.76 | 81.25 | 0 | 311.25 | 18.75 | -81.25 | -86.46 | 17.47 | 8.71 | 80.66 |
| 20Q3 (7) | 36.04 | 138.83 | -8.34 | -0.12 | 99.72 | -100.57 | -10.62 | 82.95 | -147.54 | -10.31 | 79.8 | -161.48 | -0.76 | 67.52 | -136.54 | -0.49 | 69.18 | -131.21 | 0.05 | 66.67 | -44.44 | 6.10 | 116.69 | -80.37 | 38.00 | -6.77 | -1.76 | -0.00 | -100.0 | -100.0 | 100.00 | 220.0 | 1550.0 | 16.07 | -34.46 | 26.24 |
| 20Q2 (6) | 15.09 | -45.13 | -57.14 | -42.57 | -474.49 | -597.31 | -62.27 | -2400.8 | -431.75 | -51.05 | -1104.01 | -419.66 | -2.34 | -735.71 | -254.97 | -1.59 | -1035.71 | -237.07 | 0.03 | -40.0 | -57.14 | -36.54 | -337.58 | -217.99 | 40.76 | -6.96 | 11.31 | 68.75 | -77.08 | 44.38 | 31.25 | 115.62 | -45.31 | 24.52 | 63.25 | 102.48 |
| 20Q1 (5) | 27.50 | -21.54 | -10.77 | -7.41 | -256.99 | 50.43 | -2.49 | 79.49 | -197.65 | -4.24 | 27.89 | -155.42 | -0.28 | 48.15 | -180.0 | -0.14 | 57.58 | -1300.0 | 0.05 | -28.57 | 25.0 | 15.38 | 0 | -32.72 | 43.81 | 14.09 | 25.46 | 300.00 | 880.0 | 160.0 | -200.00 | -244.44 | -133.33 | 15.02 | 55.33 | -15.57 |
| 19Q4 (4) | 35.05 | -10.86 | 0.0 | 4.72 | -77.51 | 0.0 | -12.14 | -154.34 | 0.0 | -5.88 | -135.06 | 0.0 | -0.54 | -125.96 | 0.0 | -0.33 | -121.02 | 0.0 | 0.07 | -22.22 | 0.0 | 0.00 | -100.0 | 0.0 | 38.40 | -0.72 | 0.0 | -38.46 | -140.94 | 0.0 | 138.46 | 2184.62 | 0.0 | 9.67 | -24.04 | 0.0 |
| 19Q3 (3) | 39.32 | 11.67 | 0.0 | 20.99 | 145.21 | 0.0 | 22.34 | 19.02 | 0.0 | 16.77 | 5.01 | 0.0 | 2.08 | 37.75 | 0.0 | 1.57 | 35.34 | 0.0 | 0.09 | 28.57 | 0.0 | 31.08 | 0.36 | 0.0 | 38.68 | 5.63 | 0.0 | 93.94 | 97.27 | 0.0 | 6.06 | -89.39 | 0.0 | 12.73 | 5.12 | 0.0 |
| 19Q2 (2) | 35.21 | 14.24 | 0.0 | 8.56 | 157.26 | 0.0 | 18.77 | 636.08 | 0.0 | 15.97 | 1062.05 | 0.0 | 1.51 | 1610.0 | 0.0 | 1.16 | 11700.0 | 0.0 | 0.07 | 75.0 | 0.0 | 30.97 | 35.48 | 0.0 | 36.62 | 4.87 | 0.0 | 47.62 | 109.52 | 0.0 | 57.14 | -90.48 | 0.0 | 12.11 | -31.93 | 0.0 |
| 19Q1 (1) | 30.82 | 0.0 | 0.0 | -14.95 | 0.0 | 0.0 | 2.55 | 0.0 | 0.0 | -1.66 | 0.0 | 0.0 | -0.10 | 0.0 | 0.0 | -0.01 | 0.0 | 0.0 | 0.04 | 0.0 | 0.0 | 22.86 | 0.0 | 0.0 | 34.92 | 0.0 | 0.0 | -500.00 | 0.0 | 0.0 | 600.00 | 0.0 | 0.0 | 17.79 | 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) | -13.41 | 0 | -120.64 | 0 | 39.09 | 40.91 | -85.58 | 0 | -76.20 | 0 | -8.86 | 0 | -6.38 | 0 | 0.09 | -18.18 | -40.91 | 0 | 32.43 | -0.09 | 141.49 | -72.85 | -41.49 | 0 | 1.43 | 11.22 | 51.94 | 50.99 |
| 2022 (9) | 7.30 | -62.12 | -63.74 | 0 | 27.74 | 23.3 | -12.06 | 0 | -13.64 | 0 | -2.09 | 0 | -1.27 | 0 | 0.11 | -15.38 | 19.35 | 0 | 32.46 | -17.99 | 521.05 | 279.53 | -421.05 | 0 | 1.29 | 16.33 | 34.40 | 20.91 |
| 2021 (8) | 19.27 | -29.44 | -40.71 | 0 | 22.50 | 35.94 | -29.56 | 0 | -25.82 | 0 | -4.82 | 0 | -3.22 | 0 | 0.13 | -27.78 | -3.50 | 0 | 39.58 | 0.3 | 137.29 | 97.56 | -37.29 | 0 | 1.11 | 6.79 | 28.45 | 60.92 |
| 2020 (7) | 27.31 | -23.84 | -14.12 | 0 | 16.55 | 51.72 | -20.44 | 0 | -17.86 | 0 | -4.51 | 0 | -3.02 | 0 | 0.18 | -33.33 | -1.72 | 0 | 39.46 | 2.76 | 69.49 | -14.62 | 30.51 | 87.41 | 1.04 | 22.37 | 17.68 | 40.21 |
| 2019 (6) | 35.86 | 0.39 | 8.05 | -17.69 | 10.91 | 35.27 | 9.71 | -50.31 | 8.01 | -47.75 | 2.95 | -54.48 | 2.41 | -51.99 | 0.27 | -15.62 | 22.05 | -22.98 | 38.40 | 18.96 | 81.40 | 64.49 | 16.28 | -67.1 | 0.85 | -4.3 | 12.61 | -4.47 |
| 2018 (5) | 35.72 | 12.79 | 9.78 | -9.44 | 8.06 | 16.0 | 19.54 | 199.69 | 15.33 | 178.22 | 6.48 | 140.0 | 5.02 | 124.11 | 0.32 | -15.79 | 28.63 | 100.77 | 32.28 | -7.56 | 49.48 | -69.98 | 49.48 | 0 | 0.89 | 0 | 13.20 | 11.96 |
| 2017 (4) | 31.67 | 53.22 | 10.80 | 0 | 6.95 | -30.02 | 6.52 | 340.54 | 5.51 | 190.0 | 2.70 | 285.71 | 2.24 | 255.56 | 0.38 | 22.58 | 14.26 | 19.63 | 34.92 | 50.84 | 164.86 | 0 | -64.86 | 0 | 0.00 | 0 | 11.79 | -7.67 |
| 2016 (3) | 20.67 | 6.16 | -2.84 | 0 | 9.93 | -1.19 | 1.48 | -62.34 | 1.90 | -47.51 | 0.70 | -53.64 | 0.63 | -55.0 | 0.31 | -16.22 | 11.92 | -18.02 | 23.15 | 85.05 | -185.71 | 0 | 285.71 | 199.32 | 0.00 | 0 | 12.77 | -2.89 |
| 2015 (2) | 19.47 | 3.45 | 0.12 | -95.68 | 10.05 | 22.78 | 3.93 | -42.79 | 3.62 | -17.91 | 1.51 | -43.45 | 1.40 | -41.91 | 0.37 | -30.19 | 14.54 | -5.46 | 12.51 | -2.49 | 4.55 | -88.64 | 95.45 | 59.09 | 0.00 | 0 | 13.15 | 19.98 |
| 2014 (1) | 18.82 | 0 | 2.78 | 0 | 8.19 | 14.24 | 6.87 | 0 | 4.41 | 0 | 2.67 | 0 | 2.41 | 0 | 0.53 | 0.0 | 15.38 | 65.73 | 12.83 | -14.58 | 40.00 | 0 | 60.00 | -40.0 | 0.00 | 0 | 10.96 | -0.9 |
