- 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) | 16.64 | -75.66 | -66.1 | -8.56 | 85.95 | 91.86 | -10.33 | 93.1 | 97.07 | -10.33 | 93.1 | 97.07 | -3.02 | 52.14 | 71.67 | -1.18 | 62.78 | 84.18 | 0.14 | 600.0 | 600.0 | -5.88 | 95.3 | 98.24 | 104.41 | -13.1 | 195.44 | 80.00 | 76.0 | 180.0 | 20.00 | -68.57 | -70.0 | 26.14 | -64.74 | -73.52 |
| 23Q3 (19) | 68.37 | 3969.64 | 137.31 | -60.91 | 81.55 | 79.68 | -149.75 | 6.85 | 69.59 | -149.75 | -24.09 | 69.59 | -6.31 | -381.68 | 15.64 | -3.17 | -328.38 | 35.83 | 0.02 | 100.0 | 100.0 | -125.00 | 16.67 | 75.0 | 120.15 | 122.34 | 161.65 | 45.45 | -77.27 | -27.27 | 63.64 | 163.64 | 69.7 | 74.14 | -58.22 | -66.71 |
| 23Q2 (18) | 1.68 | -94.96 | -93.88 | -330.08 | -171.11 | -77.67 | -160.77 | -1341.47 | 84.24 | -120.68 | -1031.89 | 88.36 | -1.31 | -496.97 | 93.65 | -0.74 | -317.65 | 94.78 | 0.01 | -50.0 | 0.0 | -150.00 | -850.0 | 84.69 | 54.04 | 37.86 | 5.94 | 200.00 | 133.33 | 1011.11 | -100.00 | -116.67 | -221.95 | 177.44 | 113.06 | 26.16 |
| 23Q1 (17) | 33.36 | -32.04 | 41.78 | -121.75 | -15.72 | -48.1 | 12.95 | 103.67 | 105.22 | 12.95 | 103.67 | 105.22 | 0.33 | 103.1 | 104.07 | 0.34 | 104.56 | 106.27 | 0.02 | 0.0 | 0.0 | 20.00 | 106.0 | 108.18 | 39.20 | 10.92 | -1.31 | -600.00 | -2200.0 | -1825.0 | 600.00 | 800.0 | 820.0 | 83.28 | -15.65 | 26.89 |
| 22Q4 (16) | 49.09 | 70.39 | 24.4 | -105.21 | 64.89 | -168.75 | -352.53 | 28.4 | 47.31 | -352.53 | 28.4 | 48.8 | -10.66 | -42.51 | 10.79 | -7.46 | -51.01 | 5.21 | 0.02 | 100.0 | 100.0 | -333.33 | 33.33 | 53.7 | 35.34 | -23.04 | -36.07 | 28.57 | -54.29 | 232.14 | 66.67 | 77.78 | -45.19 | 98.73 | -55.67 | 153.06 |
| 22Q3 (15) | 28.81 | 5.03 | -6.67 | -299.69 | -61.31 | 30.97 | -492.39 | 51.75 | -283.49 | -492.39 | 52.51 | -257.46 | -7.48 | 63.74 | -229.86 | -4.94 | 65.16 | -216.78 | 0.01 | 0.0 | 0.0 | -500.00 | 48.98 | -276.47 | 45.92 | -9.98 | -1.99 | 62.50 | 247.22 | 138.46 | 37.50 | -54.27 | -85.71 | 222.74 | 58.36 | -45.49 |
| 22Q2 (14) | 27.43 | 16.57 | 152.11 | -185.78 | -125.98 | 9.36 | -1020.40 | -311.7 | -191.37 | -1036.91 | -318.36 | -203.56 | -20.63 | -154.38 | -232.41 | -14.18 | -161.62 | -216.9 | 0.01 | -50.0 | 0.0 | -980.00 | -300.92 | -194.23 | 51.01 | 28.42 | 85.69 | 18.00 | -48.25 | 202.0 | 82.00 | 25.73 | -30.3 | 140.65 | 114.31 | -7.9 |
| 22Q1 (13) | 23.53 | -40.37 | 201.95 | -82.21 | -153.72 | 78.94 | -247.85 | 62.95 | -157.88 | -247.85 | 64.01 | -157.88 | -8.11 | 32.13 | -744.79 | -5.42 | 31.13 | -685.51 | 0.02 | 100.0 | 100.0 | -244.44 | 66.05 | -266.64 | 39.72 | -28.15 | 27.88 | 34.78 | 260.87 | -90.51 | 65.22 | -46.38 | 124.46 | 65.63 | 135.27 | -73.03 |
| 21Q4 (12) | 39.46 | 27.83 | 187.19 | 153.03 | 135.25 | 203.38 | -669.05 | -349.32 | -657.03 | -688.59 | -320.2 | -720.46 | -11.95 | -307.47 | -589.75 | -7.87 | -286.05 | -493.5 | 0.01 | 0.0 | -50.0 | -720.00 | -354.12 | -640.01 | 55.28 | 17.99 | 84.94 | -21.62 | 86.69 | 83.18 | 121.62 | -53.67 | -46.79 | -186.08 | -145.54 | -290.09 |
| 21Q3 (11) | 30.87 | 183.73 | 889.51 | -434.12 | -111.81 | -450.91 | 268.35 | -75.97 | 290.9 | 312.71 | -68.77 | 262.45 | 5.76 | -63.03 | 166.51 | 4.23 | -65.13 | 159.16 | 0.01 | 0.0 | -75.0 | 283.33 | -72.76 | 316.66 | 46.85 | 70.55 | 115.2 | -162.50 | -820.83 | -392.5 | 262.50 | 123.12 | 490.62 | 408.65 | 167.6 | 691.96 |
| 21Q2 (10) | 10.88 | 147.14 | 318.46 | -204.96 | 47.49 | -1866.99 | 1116.80 | 1262.0 | 62491.06 | 1001.23 | 1141.75 | 37882.26 | 15.58 | 1722.92 | 2740.68 | 12.13 | 1857.97 | 3132.5 | 0.01 | 0.0 | -94.12 | 1040.00 | 1659.92 | 0 | 27.47 | -11.56 | 39.94 | -17.65 | -104.81 | -102.52 | 117.65 | 144.12 | 119.61 | 152.71 | -37.25 | 1262.27 |
| 21Q1 (9) | -23.08 | -267.98 | -342.69 | -390.35 | -163.71 | -4460.16 | -96.11 | -180.02 | -50.69 | -96.11 | -186.6 | -49.4 | -0.96 | -139.34 | 93.17 | -0.69 | -134.5 | 93.12 | 0.01 | -50.0 | -93.75 | -66.67 | -150.0 | -6.98 | 31.06 | 3.91 | -28.58 | 366.67 | 385.19 | 2588.89 | -266.67 | -216.67 | -408.77 | 243.38 | 148.63 | 2029.31 |
| 20Q4 (8) | 13.74 | 451.41 | 245.55 | -148.02 | -87.84 | -294.83 | 120.11 | 185.44 | 320.85 | 110.98 | 157.65 | 251.31 | 2.44 | 128.18 | -42.32 | 2.00 | 127.97 | -39.39 | 0.02 | -50.0 | -80.0 | 133.33 | 201.96 | 319.01 | 29.89 | 37.3 | -14.79 | -128.57 | -331.43 | 1.68 | 228.57 | 414.29 | 2.46 | 97.89 | 89.71 | 724.68 |
| 20Q3 (7) | -3.91 | -250.38 | -289.81 | -78.80 | -656.24 | -268.4 | -140.57 | -7753.07 | -3223.17 | -192.50 | -7164.15 | -5019.68 | -8.66 | -1367.8 | -1137.14 | -7.15 | -1687.5 | -1200.0 | 0.04 | -76.47 | -75.0 | -130.77 | 0 | -3827.03 | 21.77 | 10.9 | -12.15 | 55.56 | -92.06 | -87.18 | 44.44 | 107.41 | 113.33 | 51.60 | 360.3 | 285.65 |
| 20Q2 (6) | 2.60 | -72.66 | 103.16 | -10.42 | -21.73 | 91.86 | -1.79 | 97.19 | 99.07 | -2.65 | 95.88 | 98.45 | -0.59 | 95.8 | 95.75 | -0.40 | 96.01 | 96.82 | 0.17 | 6.25 | 142.86 | -0.00 | 100.0 | 100.0 | 19.63 | -54.86 | 47.26 | 700.00 | 5033.33 | 969.44 | -600.00 | -794.74 | -1933.33 | 11.21 | -1.92 | -56.45 |
| 20Q1 (5) | 9.51 | 200.74 | 139.12 | -8.56 | 77.17 | 87.31 | -63.78 | -323.48 | -15.33 | -64.33 | -303.64 | -27.92 | -14.05 | -432.15 | -237.74 | -10.03 | -403.94 | -162.57 | 0.16 | 60.0 | 100.0 | -62.32 | -295.85 | -24.64 | 43.49 | 23.97 | 482.98 | 13.64 | 110.43 | -88.96 | 86.36 | -61.29 | 467.05 | 11.43 | -3.71 | -6.16 |
| 19Q4 (4) | -9.44 | -558.25 | 0.0 | -37.49 | -75.27 | 0.0 | 28.54 | 774.7 | 0.0 | 31.59 | 940.16 | 0.0 | 4.23 | 704.29 | 0.0 | 3.30 | 700.0 | 0.0 | 0.10 | -37.5 | 0.0 | 31.82 | 1055.56 | 0.0 | 35.08 | 41.57 | 0.0 | -130.77 | -130.18 | 0.0 | 223.08 | 166.92 | 0.0 | 11.87 | -11.29 | 0.0 |
| 19Q3 (3) | 2.06 | 102.5 | 0.0 | -21.39 | 83.3 | 0.0 | -4.23 | 97.81 | 0.0 | -3.76 | 97.81 | 0.0 | -0.70 | 94.96 | 0.0 | -0.55 | 95.62 | 0.0 | 0.16 | 128.57 | 0.0 | -3.33 | 98.24 | 0.0 | 24.78 | 85.9 | 0.0 | 433.33 | 562.04 | 0.0 | -333.33 | -1118.52 | 0.0 | 13.38 | -48.02 | 0.0 |
| 19Q2 (2) | -82.35 | -238.75 | 0.0 | -128.07 | -89.93 | 0.0 | -193.12 | -249.22 | 0.0 | -171.32 | -240.66 | 0.0 | -13.88 | -233.65 | 0.0 | -12.56 | -228.8 | 0.0 | 0.07 | -12.5 | 0.0 | -189.29 | -278.58 | 0.0 | 13.33 | 78.69 | 0.0 | 65.45 | -47.01 | 0.0 | 32.73 | 239.09 | 0.0 | 25.74 | 111.33 | 0.0 |
| 19Q1 (1) | -24.31 | 0.0 | 0.0 | -67.43 | 0.0 | 0.0 | -55.30 | 0.0 | 0.0 | -50.29 | 0.0 | 0.0 | -4.16 | 0.0 | 0.0 | -3.82 | 0.0 | 0.0 | 0.08 | 0.0 | 0.0 | -50.00 | 0.0 | 0.0 | 7.46 | 0.0 | 0.0 | 123.53 | 0.0 | 0.0 | -23.53 | 0.0 | 0.0 | 12.18 | 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) | 23.36 | -25.79 | -32.39 | 0 | 1.54 | -64.62 | -29.26 | 0 | -28.05 | 0 | -10.36 | 0 | -5.38 | 0 | 0.22 | 214.29 | -23.08 | 0 | 104.41 | 195.44 | 110.53 | 276.48 | -10.53 | 0 | 33.81 | 0 | 40.33 | -63.77 |
| 2022 (9) | 31.48 | 52.22 | -139.67 | 0 | 4.35 | -58.7 | -470.38 | 0 | -473.86 | 0 | -45.99 | 0 | -30.81 | 0 | 0.07 | 40.0 | -465.22 | 0 | 35.34 | -36.07 | 29.36 | 0 | 70.64 | -69.57 | 0.00 | 0 | 111.31 | -25.12 |
| 2021 (8) | 20.68 | 267.97 | -200.52 | 0 | 10.53 | 700.0 | 147.89 | 0 | 128.24 | 0 | 8.44 | 0 | 6.11 | 0 | 0.05 | -86.84 | 163.16 | 0 | 55.28 | 84.94 | -135.71 | 0 | 232.14 | 431.99 | 0.00 | 0 | 148.66 | 724.97 |
| 2020 (7) | 5.62 | 0 | -20.58 | 0 | 1.32 | -28.07 | -36.44 | 0 | -41.70 | 0 | -20.81 | 0 | -15.47 | 0 | 0.38 | 2.7 | -34.21 | 0 | 29.89 | -14.79 | 56.36 | -59.83 | 43.64 | 0 | 0.00 | 0 | 18.02 | 21.18 |
| 2019 (6) | -20.66 | 0 | -52.97 | 0 | 1.83 | 0 | -37.80 | 0 | -32.08 | 0 | -14.51 | 0 | -11.81 | 0 | 0.37 | -22.92 | -35.37 | 0 | 35.08 | 257.96 | 140.32 | -51.19 | -40.32 | 0 | 0.00 | 0 | 14.87 | 21.09 |
| 2018 (5) | 1.70 | -81.76 | -21.19 | 0 | 0.00 | 0 | -7.54 | 0 | -8.66 | 0 | -4.45 | 0 | -4.13 | 0 | 0.48 | -11.11 | -7.41 | 0 | 9.80 | 83.52 | 287.50 | 0 | -181.25 | 0 | 0.00 | 0 | 12.28 | 3.37 |
| 2017 (4) | 9.32 | -45.78 | -11.70 | 0 | 0.00 | 0 | 34.33 | 473.12 | 31.96 | 430.9 | 18.28 | 298.26 | 17.25 | 331.25 | 0.54 | -16.92 | 34.40 | 455.74 | 5.34 | -20.18 | -33.72 | 0 | 133.72 | 702.33 | 0.00 | 0 | 11.88 | 59.68 |
| 2016 (3) | 17.19 | 210.85 | 4.87 | 0 | 0.00 | 0 | 5.99 | 0 | 6.02 | 0 | 4.59 | 0 | 4.00 | 0 | 0.65 | -50.38 | 6.19 | 0 | 6.69 | -89.8 | 75.00 | -26.29 | 16.67 | 0 | 0.00 | 0 | 7.44 | -80.62 |
| 2015 (2) | 5.53 | -78.89 | -87.69 | 0 | 7.55 | -42.5 | -86.02 | 0 | -86.42 | 0 | -193.06 | 0 | -112.52 | 0 | 1.31 | 95.52 | -66.77 | 0 | 65.59 | -9.28 | 101.75 | 0.79 | -2.11 | 0 | 0.00 | 0 | 38.39 | -33.06 |
| 2014 (1) | 26.19 | 0 | -94.87 | 0 | 13.13 | 81.21 | -94.14 | 0 | -95.11 | 0 | -102.28 | 0 | -62.71 | 0 | 0.67 | -33.0 | -56.12 | 0 | 72.30 | 31.93 | 100.95 | -4.77 | -0.63 | 0 | 0.00 | 0 | 57.35 | 59.22 |
