- 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 | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 23Q2 (20) | -98.86 | -69.54 | -745.68 | -198.27 | -51.33 | -408.91 | 1045.93 | 1713.59 | 2836.6 | 1045.93 | 1713.59 | 2836.6 | 153.76 | 326.42 | 636.5 | 28.97 | 1755.43 | 1082.03 | 0.03 | 0.0 | -66.67 | 1150.00 | 11400.0 | 9300.0 | 159.25 | -95.75 | -83.46 | -18.78 | -109.39 | -118.32 | 118.78 | 218.78 | 4851.17 | 110.59 | 28.18 | 195.85 |
| 23Q1 (19) | -58.31 | -239.41 | -738.99 | -131.02 | -112.56 | -273.28 | -64.82 | -98.17 | -85.25 | -64.82 | -98.17 | -85.25 | -67.91 | -66.12 | -215.27 | -1.75 | -19.86 | 38.16 | 0.03 | -50.0 | -66.67 | 10.00 | 90.11 | 209.05 | 3743.65 | 45.28 | 479.45 | 200.00 | 8.57 | 100.0 | -100.00 | -11.76 | 0 | 86.28 | 101.03 | 125.22 |
| 22Q4 (18) | -17.18 | 47.11 | 10.52 | -61.64 | 28.57 | -46.03 | -32.71 | 57.82 | 83.89 | -32.71 | 57.82 | 83.89 | -40.88 | 30.16 | 48.17 | -1.46 | 63.86 | 91.88 | 0.06 | 0.0 | -33.33 | 5.26 | 118.0 | 102.93 | 2576.83 | 43.52 | 371.61 | 184.21 | 64.47 | 780.53 | -89.47 | -645.61 | -213.14 | 42.92 | -36.15 | 16.66 |
| 22Q3 (17) | -32.48 | -177.84 | -390.63 | -86.29 | -121.48 | -200.87 | -77.55 | -102.9 | -1156.89 | -77.55 | -102.9 | -1156.89 | -58.53 | -104.22 | -2886.22 | -4.04 | -36.95 | -1054.29 | 0.06 | -33.33 | -40.0 | -29.23 | -133.84 | -316.04 | 1795.51 | 86.51 | 675.26 | 112.00 | 9.27 | -76.42 | -12.00 | -380.0 | 96.8 | 67.22 | 79.83 | 107.98 |
| 22Q2 (16) | -11.69 | -68.2 | -408.26 | -38.96 | -11.0 | -91.45 | -38.22 | -9.23 | -63.54 | -38.22 | -9.23 | -63.54 | -28.66 | -33.05 | -301.4 | -2.95 | -4.24 | -50.51 | 0.09 | 0.0 | 0.0 | -12.50 | -36.31 | -189.35 | 962.68 | 49.01 | 311.72 | 102.50 | 2.5 | 20.8 | -2.50 | 0 | -120.62 | 37.38 | -2.43 | 36.08 |
| 22Q1 (15) | -6.95 | 63.8 | -11.02 | -35.10 | 16.84 | -19.31 | -34.99 | 82.77 | -21.45 | -34.99 | 82.77 | -21.45 | -21.54 | 72.69 | -187.97 | -2.83 | 84.27 | -24.12 | 0.09 | 0.0 | 0.0 | -9.17 | 94.89 | -0.88 | 646.07 | 18.24 | 195.47 | 100.00 | 378.0 | -2.56 | -0.00 | -100.0 | 100.0 | 38.31 | 4.13 | 35.8 |
| 21Q4 (14) | -19.20 | -190.03 | 4.86 | -42.21 | -47.18 | 9.81 | -203.05 | -3190.92 | -185.26 | -203.05 | -3190.92 | -185.26 | -78.87 | -3923.98 | -427.56 | -17.99 | -5040.0 | -243.98 | 0.09 | -10.0 | 12.5 | -179.49 | -1426.61 | -274.72 | 546.39 | 135.92 | 194.47 | 20.92 | -95.6 | -68.25 | 79.08 | 121.09 | 131.78 | 36.79 | 13.83 | 37.43 |
| 21Q3 (13) | -6.62 | -187.83 | 84.51 | -28.68 | -40.93 | 62.46 | -6.17 | 73.6 | -3.7 | -6.17 | 73.6 | -3.7 | -1.96 | 72.55 | -139.02 | -0.35 | 82.14 | -288.89 | 0.10 | 11.11 | 100.0 | 13.53 | 413.19 | -47.11 | 231.60 | -0.95 | 40.47 | 475.00 | 459.82 | -64.02 | -375.00 | -3193.75 | 69.26 | 32.32 | 17.66 | -22.86 |
| 21Q2 (12) | -2.30 | 63.26 | 94.46 | -20.35 | 30.83 | 71.12 | -23.37 | 18.88 | -1138.67 | -23.37 | 18.88 | -1138.67 | -7.14 | 4.55 | -2562.07 | -1.96 | 14.04 | -800.0 | 0.09 | 0.0 | 125.0 | -4.32 | 52.48 | -110.12 | 233.82 | 6.93 | 38.19 | 84.85 | -17.33 | 102.93 | 12.12 | 560.61 | -99.6 | 27.47 | -2.62 | 0 |
| 21Q1 (11) | -6.26 | 68.98 | 86.34 | -29.42 | 37.14 | 61.03 | -28.81 | 59.53 | 47.0 | -28.81 | 59.53 | 47.0 | -7.48 | 49.97 | -11.14 | -2.28 | 56.41 | -42.5 | 0.09 | 12.5 | 200.0 | -9.09 | 81.02 | -90.97 | 218.66 | 17.84 | -21.77 | 102.63 | 55.78 | -26.69 | -2.63 | -107.71 | 93.42 | 28.21 | 5.38 | 0 |
| 20Q4 (10) | -20.18 | 52.8 | 58.51 | -46.80 | 38.74 | 41.16 | -71.18 | -1096.3 | 81.44 | -71.18 | -1096.3 | 81.44 | -14.95 | -1723.17 | 66.56 | -5.23 | -5711.11 | 63.14 | 0.08 | 60.0 | 100.0 | -47.90 | -287.26 | 85.83 | 185.55 | 12.54 | -29.32 | 65.88 | -95.01 | 217.15 | 34.12 | 102.8 | -56.94 | 26.77 | -36.11 | 74.85 |
| 20Q3 (9) | -42.75 | -2.94 | -21.45 | -76.40 | -8.43 | 1.27 | -5.95 | -364.44 | 93.05 | -5.95 | -364.44 | 93.05 | -0.82 | -382.76 | 91.47 | -0.09 | -132.14 | 97.3 | 0.05 | 25.0 | 25.0 | 25.58 | -40.07 | 149.7 | 164.87 | -2.56 | -6.66 | 1320.00 | 145.52 | 1356.98 | -1220.00 | -140.67 | -13076.36 | 41.90 | 0 | 43.0 |
| 20Q2 (8) | -41.53 | 9.4 | -81.91 | -70.46 | 6.68 | -58.73 | 2.25 | 104.14 | 104.07 | 2.25 | 104.14 | 104.07 | 0.29 | 104.31 | 103.58 | 0.28 | 117.5 | 111.2 | 0.04 | 33.33 | -20.0 | 42.68 | 996.64 | 266.72 | 169.20 | -39.47 | 3.28 | -2900.00 | -2171.43 | -3696.0 | 3000.00 | 7600.0 | 15400.0 | 0.00 | 0 | -100.0 |
| 20Q1 (7) | -45.84 | 5.76 | -45.94 | -75.50 | 5.08 | -33.6 | -54.36 | 85.83 | 13.05 | -54.36 | 85.83 | 13.05 | -6.73 | 84.95 | 44.88 | -1.60 | 88.72 | 56.99 | 0.03 | -25.0 | -50.0 | -4.76 | 98.59 | 86.45 | 279.51 | 6.48 | 25.45 | 140.00 | 573.95 | 54.48 | -40.00 | -150.49 | -526.67 | 0.00 | -100.0 | -100.0 |
| 19Q4 (6) | -48.64 | -38.18 | -64.83 | -79.54 | -2.79 | -74.47 | -383.54 | -347.75 | -907.99 | -383.54 | -347.75 | -907.99 | -44.71 | -365.24 | -367.19 | -14.19 | -326.13 | -373.0 | 0.04 | 0.0 | -55.56 | -337.96 | -556.62 | -48180.0 | 262.51 | 48.62 | 36.77 | 20.77 | -77.07 | -82.74 | 79.23 | 742.69 | 507.45 | 15.31 | -47.75 | -37.84 |
| 19Q3 (5) | -35.20 | -54.18 | -100.11 | -77.38 | -74.32 | -162.66 | -85.66 | -55.07 | -187.16 | -85.66 | -55.07 | -187.16 | -9.61 | -18.64 | -8.47 | -3.33 | -33.2 | -14.83 | 0.04 | -20.0 | -63.64 | -51.47 | -101.05 | -19162.96 | 176.63 | 7.81 | -8.87 | 90.60 | 12.34 | -7.72 | 9.40 | -51.42 | 934.19 | 29.30 | 5.55 | 43.35 |
| 19Q2 (4) | -22.83 | 27.32 | 0.0 | -44.39 | 21.45 | 0.0 | -55.24 | 11.64 | 0.0 | -55.24 | 11.64 | 0.0 | -8.10 | 33.66 | 0.0 | -2.50 | 32.8 | 0.0 | 0.05 | -16.67 | 0.0 | -25.60 | 27.11 | 0.0 | 163.83 | -26.47 | 0.0 | 80.65 | -11.01 | 0.0 | 19.35 | 106.45 | 0.0 | 27.76 | -18.97 | 0.0 |
| 19Q1 (3) | -31.41 | -6.44 | 0.0 | -56.51 | -23.95 | 0.0 | -62.52 | -64.31 | 0.0 | -62.52 | -64.31 | 0.0 | -12.21 | -27.59 | 0.0 | -3.72 | -24.0 | 0.0 | 0.06 | -33.33 | 0.0 | -35.12 | -4917.14 | 0.0 | 222.81 | 16.08 | 0.0 | 90.62 | -24.71 | 0.0 | 9.38 | 148.21 | 0.0 | 34.26 | 39.1 | 0.0 |
| 18Q4 (2) | -29.51 | -67.77 | 0.0 | -45.59 | -54.75 | 0.0 | -38.05 | -27.56 | 0.0 | -38.05 | -27.56 | 0.0 | -9.57 | -8.01 | 0.0 | -3.00 | -3.45 | 0.0 | 0.09 | -18.18 | 0.0 | -0.70 | -359.26 | 0.0 | 191.94 | -0.98 | 0.0 | 120.37 | 22.6 | 0.0 | -19.44 | -2238.89 | 0.0 | 24.63 | 20.5 | 0.0 |
| 18Q3 (1) | -17.59 | 0.0 | 0.0 | -29.46 | 0.0 | 0.0 | -29.83 | 0.0 | 0.0 | -29.83 | 0.0 | 0.0 | -8.86 | 0.0 | 0.0 | -2.90 | 0.0 | 0.0 | 0.11 | 0.0 | 0.0 | 0.27 | 0.0 | 0.0 | 193.83 | 0.0 | 0.0 | 98.18 | 0.0 | 0.0 | 0.91 | 0.0 | 0.0 | 20.44 | 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 | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2022 (10) | -15.08 | 0 | -50.69 | 0 | 25.97 | 52.32 | -43.79 | 0 | -43.79 | 0 | -128.30 | 0 | -11.88 | 0 | 0.30 | -21.05 | -11.94 | 0 | 2576.83 | 371.61 | 115.65 | 136.52 | -15.65 | 0 | 0.10 | 28.85 | 44.37 | 43.18 |
| 2021 (9) | -8.21 | 0 | -29.69 | 0 | 17.05 | -40.33 | -60.84 | 0 | -60.84 | 0 | -87.92 | 0 | -22.05 | 0 | 0.38 | 111.11 | -40.04 | 0 | 546.39 | 194.47 | 48.90 | -73.04 | 51.10 | 0 | 0.08 | -59.58 | 30.99 | -15.77 |
| 2020 (8) | -35.92 | 0 | -65.37 | 0 | 28.57 | 19.11 | -36.00 | 0 | -36.00 | 0 | -21.52 | 0 | -5.73 | 0 | 0.18 | -14.29 | -1.08 | 0 | 185.55 | -29.32 | 181.34 | 256.52 | -81.34 | 0 | 0.20 | 2.57 | 36.79 | 31.02 |
| 2019 (7) | -32.92 | 0 | -61.84 | 0 | 23.99 | -21.8 | -121.71 | 0 | -121.71 | 0 | -83.26 | 0 | -24.90 | 0 | 0.21 | -43.24 | -89.14 | 0 | 262.51 | 36.77 | 50.87 | -55.16 | 49.27 | 0 | 0.19 | -97.75 | 28.08 | 21.35 |
| 2018 (6) | -25.05 | 0 | -39.08 | 0 | 30.68 | 0.93 | -34.45 | 0 | -34.15 | 0 | -33.50 | 0 | -11.61 | 0 | 0.37 | 8.82 | 0.30 | 0 | 191.94 | 27.05 | 113.44 | 16.54 | -13.44 | 0 | 8.62 | 0 | 23.14 | 8.23 |
| 2017 (5) | -21.86 | 0 | -34.17 | 0 | 30.39 | -2.41 | -35.10 | 0 | -41.53 | 0 | -27.64 | 0 | -11.25 | 0 | 0.34 | 13.33 | -1.20 | 0 | 151.08 | 29.53 | 97.33 | 21.85 | 2.67 | -86.75 | 0.00 | 0 | 21.38 | -0.05 |
| 2016 (4) | -20.55 | 0 | -34.09 | 0 | 31.14 | 28.4 | -42.70 | 0 | -45.83 | 0 | -26.79 | 0 | -13.09 | 0 | 0.30 | -23.08 | -8.46 | 0 | 116.64 | 41.73 | 79.88 | -8.67 | 20.12 | 58.76 | 0.00 | 0 | 21.39 | -4.34 |
| 2015 (3) | -15.34 | 0 | -29.09 | 0 | 24.25 | 32.77 | -33.30 | 0 | -40.53 | 0 | -21.19 | 0 | -13.12 | 0 | 0.39 | -23.53 | -7.43 | 0 | 82.30 | 113.99 | 87.47 | 0 | 12.67 | -93.24 | 0.00 | 0 | 22.36 | 7.76 |
| 2014 (2) | 8.38 | 0 | -3.34 | 0 | 18.27 | -24.3 | 3.82 | 0 | 1.69 | 0 | 2.52 | 0 | 2.00 | 0 | 0.51 | -5.56 | 23.10 | 693.81 | 38.46 | -20.93 | -87.50 | 0 | 187.50 | 0 | 0.00 | 0 | 20.75 | -14.4 |
| 2013 (1) | -15.12 | 0 | -33.08 | 0 | 24.13 | 33.43 | -22.74 | 0 | -23.03 | 0 | -20.81 | 0 | -11.96 | 0 | 0.54 | 5.88 | 2.91 | 246.43 | 48.64 | -54.23 | 145.29 | 50.26 | -45.52 | 0 | 0.00 | 0 | 24.24 | 24.5 |
