- 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) | 1.89 | -44.41 | -68.02 | -21.76 | -13.87 | -376.15 | -128.73 | -160812.5 | -2262.02 | -126.04 | -48576.92 | -2025.46 | -70.41 | -64109.09 | -1191.93 | -18.53 | -6717.86 | -941.01 | 0.15 | 7.14 | -55.88 | -118.18 | -1617.07 | -4571.15 | 416.24 | 102.1 | 159.92 | 17.17 | 0 | -79.01 | 82.83 | 0 | 355.56 | 17.52 | -3.1 | 155.39 |
| 23Q3 (19) | 3.40 | -41.88 | 16.44 | -19.11 | -255.87 | -62.64 | -0.08 | 98.33 | 99.34 | 0.26 | 104.81 | 102.12 | 0.11 | 102.48 | 101.5 | 0.28 | 118.79 | 109.96 | 0.14 | -54.84 | -41.67 | 7.79 | 507.85 | 188.93 | 205.96 | 20.16 | 17.04 | 0.00 | -100.0 | -100.0 | 0.00 | 100.0 | 0 | 18.08 | 102.69 | 61.14 |
| 23Q2 (18) | 5.85 | 59.84 | 15.16 | -5.37 | 34.11 | 63.64 | -4.80 | 50.26 | 67.48 | -5.41 | 48.96 | 63.52 | -4.44 | 41.66 | 25.25 | -1.49 | 43.56 | 46.59 | 0.31 | 14.81 | 63.16 | -1.91 | 69.24 | 81.27 | 171.41 | 2.83 | 38.01 | 100.00 | 16.67 | 0.0 | -12.50 | -187.5 | 0 | 8.92 | 3.72 | -43.26 |
| 23Q1 (17) | 3.66 | -38.07 | 5.17 | -8.15 | -78.34 | 58.57 | -9.65 | -77.06 | 41.76 | -10.60 | -78.75 | 36.03 | -7.61 | -39.63 | -48.92 | -2.64 | -48.31 | 0.75 | 0.27 | -20.59 | 68.75 | -6.21 | -145.45 | 37.9 | 166.69 | 4.09 | 85.33 | 85.71 | 4.76 | -30.36 | 14.29 | -21.43 | 192.86 | 8.60 | 25.36 | -50.29 |
| 22Q4 (16) | 5.91 | 102.4 | 756.52 | -4.57 | 61.11 | 76.55 | -5.45 | 54.96 | -102.67 | -5.93 | 51.63 | -102.9 | -5.45 | 25.85 | -105.2 | -1.78 | 36.65 | -105.0 | 0.34 | 41.67 | 100.0 | -2.53 | 71.12 | -101.17 | 160.14 | -9.0 | 79.33 | 81.82 | -13.07 | 975.94 | 18.18 | 0 | -83.45 | 6.86 | -38.86 | -50.07 |
| 22Q3 (15) | 2.92 | -42.52 | 61.33 | -11.75 | 20.45 | 30.8 | -12.10 | 18.02 | 41.26 | -12.26 | 17.33 | 40.89 | -7.35 | -23.74 | 60.4 | -2.81 | -0.72 | -2.55 | 0.24 | 26.32 | 60.0 | -8.76 | 14.12 | 11.34 | 175.98 | 41.69 | -68.23 | 94.12 | -5.88 | 14.29 | -0.00 | 0 | -100.0 | 11.22 | -28.63 | -45.03 |
| 22Q2 (14) | 5.08 | 45.98 | 5.18 | -14.77 | 24.91 | -69.19 | -14.76 | 10.92 | -11.48 | -14.83 | 10.5 | -11.67 | -5.94 | -16.24 | 56.07 | -2.79 | -4.89 | -25.68 | 0.19 | 18.75 | 0.0 | -10.20 | -2.0 | -120.3 | 124.20 | 38.09 | -73.47 | 100.00 | -18.75 | 55.56 | -0.00 | 100.0 | -100.0 | 15.72 | -9.13 | 0.26 |
| 22Q1 (13) | 3.48 | 404.35 | -76.45 | -19.67 | -0.92 | -4376.09 | -16.57 | -108.11 | -1740.59 | -16.57 | -108.11 | -2072.62 | -5.11 | -104.88 | -763.64 | -2.66 | -107.47 | -704.55 | 0.16 | -5.88 | -11.11 | -10.00 | -104.64 | -216.69 | 89.94 | 0.72 | -77.8 | 123.08 | 1417.65 | 0 | -15.38 | -114.0 | -115.38 | 17.30 | 25.91 | 8.26 |
| 21Q4 (12) | 0.69 | -61.88 | -95.38 | -19.49 | -14.78 | -611.31 | 204.25 | 1091.5 | 23650.0 | 204.20 | 1084.57 | 27126.67 | 104.78 | 664.55 | 14059.46 | 35.59 | 1398.91 | 7636.96 | 0.17 | 13.33 | -10.53 | 215.73 | 2283.5 | 2273.27 | 89.30 | -83.88 | -79.92 | -9.34 | -111.34 | 96.89 | 109.89 | 522.71 | -72.53 | 13.74 | -32.68 | 3.39 |
| 21Q3 (11) | 1.81 | -62.53 | -87.67 | -16.98 | -94.5 | -276.51 | -20.60 | -55.59 | -1491.89 | -20.74 | -56.17 | -2038.32 | -18.56 | -37.28 | -1919.61 | -2.74 | -23.42 | -670.83 | 0.15 | -21.05 | -25.0 | -9.88 | -113.39 | -201.75 | 553.87 | 18.3 | 41.26 | 82.35 | 28.1 | -83.53 | 17.65 | -50.59 | 104.41 | 20.41 | 30.17 | 12.39 |
| 21Q2 (10) | 4.83 | -67.32 | -38.55 | -8.73 | -1997.83 | 48.25 | -13.24 | -1410.89 | 42.68 | -13.28 | -1680.95 | 41.52 | -13.52 | -1855.84 | 18.99 | -2.22 | -604.55 | 34.9 | 0.19 | 5.56 | 18.75 | -4.63 | -154.03 | 66.42 | 468.19 | 15.54 | 22.8 | 64.29 | 0 | -14.29 | 35.71 | -64.29 | 42.86 | 15.68 | -1.88 | 0 |
| 21Q1 (9) | 14.78 | -1.0 | 66.82 | 0.46 | 116.79 | 101.89 | 1.01 | 17.44 | 104.12 | 0.84 | 12.0 | 103.37 | 0.77 | 4.05 | 104.74 | 0.44 | -4.35 | 111.43 | 0.18 | -5.26 | 5.88 | 8.57 | -5.72 | 156.31 | 405.21 | -8.88 | 24.94 | 0.00 | 100.0 | -100.0 | 100.00 | -75.0 | 0 | 15.98 | 20.24 | 0 |
| 20Q4 (8) | 14.93 | 1.7 | 27.61 | -2.74 | -128.48 | 38.98 | 0.86 | -41.89 | 105.78 | 0.75 | -29.91 | 105.01 | 0.74 | -27.45 | 107.54 | 0.46 | -4.17 | 118.18 | 0.19 | -5.0 | 0.0 | 9.09 | -6.39 | 237.73 | 444.69 | 13.42 | 67.48 | -300.00 | -160.0 | -1060.0 | 400.00 | 200.0 | 481.82 | 13.29 | -26.82 | 0 |
| 20Q3 (7) | 14.68 | 86.77 | 26.33 | 9.62 | 157.02 | 380.47 | 1.48 | 106.41 | 113.19 | 1.07 | 104.71 | 109.46 | 1.02 | 106.11 | 114.19 | 0.48 | 114.08 | 124.24 | 0.20 | 25.0 | 0.0 | 9.71 | 170.41 | 376.64 | 392.09 | 2.84 | 68.8 | 500.00 | 566.67 | 1525.0 | -400.00 | -1700.0 | -677.78 | 18.16 | 0 | 18.62 |
| 20Q2 (6) | 7.86 | -11.29 | -14.47 | -16.87 | 30.72 | -232.09 | -23.10 | 5.87 | -107.92 | -22.71 | 8.87 | -100.09 | -16.69 | -2.83 | -195.4 | -3.41 | 11.43 | -113.12 | 0.16 | -5.88 | -5.88 | -13.79 | 9.4 | -569.42 | 381.25 | 17.55 | 83.28 | 75.00 | -25.0 | 65.0 | 25.00 | 0 | -54.17 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 8.86 | -24.27 | -2.96 | -24.35 | -442.32 | -4098.28 | -24.54 | -64.92 | -815.67 | -24.92 | -66.36 | -806.18 | -16.23 | -65.27 | -1102.22 | -3.85 | -52.17 | -1650.0 | 0.17 | -10.53 | 0.0 | -15.22 | -130.61 | -351.16 | 324.33 | 22.15 | 67.21 | 100.00 | 220.0 | 200.0 | 0.00 | -100.0 | -100.0 | 0.00 | 0 | -100.0 |
| 19Q4 (4) | 11.70 | 0.69 | 0.0 | -4.49 | -30.9 | 0.0 | -14.88 | -32.62 | 0.0 | -14.98 | -32.45 | 0.0 | -9.82 | -36.58 | 0.0 | -2.53 | -27.78 | 0.0 | 0.19 | -5.0 | 0.0 | -6.60 | -88.03 | 0.0 | 265.52 | 14.31 | 0.0 | 31.25 | 1.56 | 0.0 | 68.75 | -0.69 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 11.62 | 26.44 | 0.0 | -3.43 | 32.48 | 0.0 | -11.22 | -0.99 | 0.0 | -11.31 | 0.35 | 0.0 | -7.19 | -27.26 | 0.0 | -1.98 | -23.75 | 0.0 | 0.20 | 17.65 | 0.0 | -3.51 | -70.39 | 0.0 | 232.28 | 11.66 | 0.0 | 30.77 | -32.31 | 0.0 | 69.23 | 26.92 | 0.0 | 15.31 | -16.25 | 0.0 |
| 19Q2 (2) | 9.19 | 0.66 | 0.0 | -5.08 | -775.86 | 0.0 | -11.11 | -314.55 | 0.0 | -11.35 | -312.73 | 0.0 | -5.65 | -318.52 | 0.0 | -1.60 | -627.27 | 0.0 | 0.17 | 0.0 | 0.0 | -2.06 | -133.99 | 0.0 | 208.02 | 7.25 | 0.0 | 45.45 | 36.36 | 0.0 | 54.55 | -18.18 | 0.0 | 18.28 | 5.54 | 0.0 |
| 19Q1 (1) | 9.13 | 0.0 | 0.0 | -0.58 | 0.0 | 0.0 | -2.68 | 0.0 | 0.0 | -2.75 | 0.0 | 0.0 | -1.35 | 0.0 | 0.0 | -0.22 | 0.0 | 0.0 | 0.17 | 0.0 | 0.0 | 6.06 | 0.0 | 0.0 | 193.96 | 0.0 | 0.0 | 33.33 | 0.0 | 0.0 | 66.67 | 0.0 | 0.0 | 17.32 | 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) | 4.07 | -10.94 | -11.34 | 0 | 3.95 | 26.56 | -26.43 | 0 | -26.43 | 0 | -80.67 | 0 | -22.97 | 0 | 0.91 | -7.14 | -21.05 | 0 | 416.24 | 159.92 | 42.98 | -57.02 | 57.02 | 0 | 0.00 | 0 | 11.82 | 4.23 |
| 2022 (9) | 4.57 | -23.32 | -10.79 | 0 | 3.12 | -54.06 | -10.75 | 0 | -10.98 | 0 | -23.67 | 0 | -10.18 | 0 | 0.98 | 44.12 | -6.82 | 0 | 160.14 | 79.33 | 100.00 | 0 | -0.00 | 0 | 0.00 | 0 | 11.34 | -30.47 |
| 2021 (8) | 5.96 | -49.75 | -10.45 | 0 | 6.79 | 2.61 | 39.79 | 0 | 39.69 | 0 | 80.02 | 0 | 28.43 | 0 | 0.68 | 1.49 | 49.35 | 0 | 89.30 | -79.92 | -26.14 | 0 | 126.14 | 404.58 | 0.00 | 0 | 16.31 | -2.04 |
| 2020 (7) | 11.86 | 13.17 | -7.73 | 0 | 6.62 | 5.85 | -10.28 | 0 | -10.42 | 0 | -30.70 | 0 | -5.85 | 0 | 0.67 | -6.94 | -1.78 | 0 | 444.69 | 67.48 | 75.00 | 125.0 | 25.00 | -62.5 | 0.00 | 0 | 16.65 | 7.84 |
| 2019 (6) | 10.48 | 82.26 | -3.41 | 0 | 6.25 | 56.6 | -10.10 | 0 | -10.22 | 0 | -24.03 | 0 | -6.26 | 0 | 0.72 | 0.0 | -1.92 | 0 | 265.52 | 32.76 | 33.33 | -61.58 | 66.67 | 466.67 | 0.00 | 0 | 15.44 | -1.59 |
| 2018 (5) | 5.75 | -16.3 | -13.16 | 0 | 3.99 | 24.9 | -15.00 | 0 | -15.14 | 0 | -28.85 | 0 | -9.94 | 0 | 0.72 | -6.49 | -9.53 | 0 | 200.00 | 41.07 | 86.76 | 10.66 | 11.76 | -45.51 | 0.00 | 0 | 15.69 | -16.01 |
| 2017 (4) | 6.87 | -49.15 | -12.93 | 0 | 3.20 | -23.84 | -16.59 | 0 | -16.73 | 0 | -28.13 | 0 | -11.96 | 0 | 0.77 | 35.09 | -11.84 | 0 | 141.77 | 38.77 | 78.41 | -15.06 | 21.59 | 180.68 | 0.00 | 0 | 18.68 | -6.51 |
| 2016 (3) | 13.51 | 98.68 | -8.46 | 0 | 4.20 | -19.9 | -9.09 | 0 | -9.24 | 0 | -10.26 | 0 | -4.39 | 0 | 0.57 | 5.56 | -3.03 | 0 | 102.16 | 13.94 | 92.31 | -2.9 | 7.69 | 55.77 | 0.00 | 0 | 19.98 | -2.92 |
| 2015 (2) | 6.80 | 0 | -18.30 | 0 | 5.24 | 12.42 | -19.25 | 0 | -19.51 | 0 | -20.59 | 0 | -9.79 | 0 | 0.54 | -18.18 | -12.14 | 0 | 89.66 | -9.96 | 95.06 | -5.7 | 4.94 | 0 | 0.00 | 0 | 20.58 | 16.34 |
| 2014 (1) | -1.78 | 0 | -22.44 | 0 | 4.66 | 15.59 | -22.29 | 0 | -21.86 | 0 | -27.76 | 0 | -13.47 | 0 | 0.66 | -4.35 | -15.95 | 0 | 99.58 | 14.04 | 100.81 | 8.71 | -0.81 | 0 | 0.00 | 0 | 17.69 | -7.82 |
