- 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) | -3.42 | -419.63 | 63.5 | -27.01 | -107.13 | -8.04 | -33.85 | -423.99 | -14.82 | -29.30 | -460.23 | -24.84 | -4.31 | -432.1 | -20.39 | -2.59 | -547.5 | -20.47 | 0.09 | -10.0 | -10.0 | -10.04 | -165.36 | -0.1 | 61.13 | 4.35 | -0.6 | 79.55 | -61.3 | -6.09 | 20.45 | 120.45 | 33.74 | 26.23 | 5.94 | 10.16 |
| 23Q3 (19) | 1.07 | -69.08 | -82.57 | -13.04 | -12.8 | -10.51 | -6.46 | 33.74 | 11.02 | -5.23 | 32.69 | 10.29 | -0.81 | 35.2 | 2.41 | -0.40 | 40.3 | 9.09 | 0.10 | 0.0 | 11.11 | 15.36 | 45.18 | 21.14 | 58.58 | -3.67 | 1.77 | 205.56 | 75.33 | 24.58 | -100.00 | -480.0 | -53.85 | 24.76 | 4.34 | -7.16 |
| 23Q2 (18) | 3.46 | -28.22 | -77.12 | -11.56 | -11.37 | -256.79 | -9.75 | 11.84 | -294.74 | -7.77 | 8.26 | -213.31 | -1.25 | 8.76 | -228.95 | -0.67 | 11.84 | -294.12 | 0.10 | 0.0 | 11.11 | 10.58 | 22.03 | -30.98 | 60.81 | 0.96 | -1.95 | 117.24 | 24.81 | -17.93 | -17.24 | -384.48 | 39.66 | 23.73 | -0.29 | -7.99 |
| 23Q1 (17) | 4.82 | 151.44 | -78.24 | -10.38 | 58.48 | -414.55 | -11.06 | 62.48 | -267.32 | -8.47 | 63.91 | -247.3 | -1.37 | 61.73 | -242.71 | -0.76 | 64.65 | -216.92 | 0.10 | 0.0 | 0.0 | 8.67 | 186.44 | -61.33 | 60.23 | -2.07 | -0.23 | 93.94 | 10.9 | 87.88 | 6.06 | -60.37 | -87.88 | 23.80 | -0.04 | -4.15 |
| 22Q4 (16) | -9.37 | -252.61 | -137.01 | -25.00 | -111.86 | -403.77 | -29.48 | -306.06 | -432.36 | -23.47 | -302.57 | -403.23 | -3.58 | -331.33 | -333.99 | -2.15 | -388.64 | -315.0 | 0.10 | 11.11 | -16.67 | -10.03 | -179.1 | -147.47 | 61.50 | 6.85 | 3.17 | 84.71 | -48.66 | -10.0 | 15.29 | 123.53 | 160.0 | 23.81 | -10.72 | 13.76 |
| 22Q3 (15) | 6.14 | -59.39 | -71.42 | -11.80 | -264.2 | -260.54 | -7.26 | -193.93 | -182.5 | -5.83 | -135.08 | -175.42 | -0.83 | -118.42 | -143.23 | -0.44 | -158.82 | -136.07 | 0.09 | 0.0 | -40.0 | 12.68 | -17.29 | -31.9 | 57.56 | -7.19 | -6.59 | 165.00 | 15.5 | 98.0 | -65.00 | -127.5 | -490.0 | 26.67 | 3.41 | 41.94 |
| 22Q2 (14) | 15.12 | -31.74 | -31.55 | -3.24 | -198.18 | -130.11 | -2.47 | -137.37 | -125.15 | -2.48 | -143.13 | -129.31 | -0.38 | -139.58 | -118.45 | -0.17 | -126.15 | -112.69 | 0.09 | -10.0 | -40.0 | 15.33 | -31.62 | -21.83 | 62.02 | 2.73 | -5.7 | 142.86 | 185.71 | 31.2 | -28.57 | -157.14 | -221.43 | 25.79 | 3.87 | 36.82 |
| 22Q1 (13) | 22.15 | -12.52 | 11.53 | 3.30 | -59.9 | -62.67 | 6.61 | -25.48 | -25.73 | 5.75 | -25.71 | -34.29 | 0.96 | -37.25 | -53.62 | 0.65 | -35.0 | -54.55 | 0.10 | -16.67 | -37.5 | 22.42 | 6.11 | 21.25 | 60.37 | 1.27 | 12.65 | 50.00 | -46.88 | -50.0 | 50.00 | 750.0 | 0 | 24.83 | 18.63 | 30.2 |
| 21Q4 (12) | 25.32 | 17.88 | 39.81 | 8.23 | 11.97 | 10.17 | 8.87 | 0.8 | 6.48 | 7.74 | 0.13 | -0.13 | 1.53 | -20.31 | -7.27 | 1.00 | -18.03 | -16.67 | 0.12 | -20.0 | -20.0 | 21.13 | 13.48 | 13.3 | 59.61 | -3.26 | 37.92 | 94.12 | 12.94 | 3.85 | 5.88 | -64.71 | -37.25 | 20.93 | 11.39 | 9.07 |
| 21Q3 (11) | 21.48 | -2.76 | 86.95 | 7.35 | -31.69 | 807.41 | 8.80 | -10.39 | 754.37 | 7.73 | -8.63 | 602.73 | 1.92 | -6.8 | 772.73 | 1.22 | -8.96 | 542.11 | 0.15 | 0.0 | 7.14 | 18.62 | -5.05 | 51.14 | 61.62 | -6.31 | 50.29 | 83.33 | -23.47 | 11.11 | 16.67 | 287.5 | -33.33 | 18.79 | -0.32 | -4.28 |
| 21Q2 (10) | 22.09 | 11.23 | 30.02 | 10.76 | 21.72 | 402.8 | 9.82 | 10.34 | 454.8 | 8.46 | -3.31 | 377.97 | 2.06 | -0.48 | 586.67 | 1.34 | -6.29 | 415.38 | 0.15 | -6.25 | 25.0 | 19.61 | 6.06 | 25.87 | 65.77 | 22.73 | 63.2 | 108.89 | 8.89 | -22.22 | -8.89 | 0 | 55.56 | 18.85 | -1.15 | -17.0 |
| 21Q1 (9) | 19.86 | 9.66 | 67.17 | 8.84 | 18.34 | 192.08 | 8.90 | 6.84 | 197.16 | 8.75 | 12.9 | 194.9 | 2.07 | 25.45 | 260.47 | 1.43 | 19.17 | 272.29 | 0.16 | 6.67 | 60.0 | 18.49 | -0.86 | 144.25 | 53.59 | 23.99 | 24.31 | 100.00 | 10.34 | -4.17 | 0.00 | -100.0 | 100.0 | 19.07 | -0.63 | -31.92 |
| 20Q4 (8) | 18.11 | 57.62 | 27.9 | 7.47 | 822.22 | 146.66 | 8.33 | 708.74 | 143.12 | 7.75 | 604.55 | 144.9 | 1.65 | 650.0 | 156.7 | 1.20 | 531.58 | 162.18 | 0.15 | 7.14 | 36.36 | 18.65 | 51.38 | 421.0 | 43.22 | 5.41 | -9.68 | 90.62 | 20.83 | 8.75 | 9.38 | -62.5 | -43.75 | 19.19 | -2.24 | -11.24 |
| 20Q3 (7) | 11.49 | -32.37 | 7.38 | 0.81 | -62.15 | 114.31 | 1.03 | -41.81 | 113.72 | 1.10 | -37.85 | 113.98 | 0.22 | -26.67 | 118.49 | 0.19 | -26.92 | 125.0 | 0.14 | 16.67 | 40.0 | 12.32 | -20.92 | 46.32 | 41.00 | 1.74 | -10.69 | 75.00 | -46.43 | -1.56 | 25.00 | 225.0 | 5.0 | 19.63 | -13.56 | -22.16 |
| 20Q2 (6) | 16.99 | 43.01 | 54.6 | 2.14 | 122.29 | 137.61 | 1.77 | 119.32 | 132.54 | 1.77 | 119.2 | 132.78 | 0.30 | 123.26 | 135.29 | 0.26 | 131.33 | 150.0 | 0.12 | 20.0 | 9.09 | 15.58 | 105.81 | 55.8 | 40.30 | -6.52 | -15.35 | 140.00 | 34.17 | 31.76 | -20.00 | -360.0 | -220.0 | 22.71 | -18.92 | -4.26 |
| 20Q1 (5) | 11.88 | -16.1 | 190.46 | -9.60 | 40.04 | 34.2 | -9.16 | 52.59 | 19.37 | -9.22 | 46.58 | 21.33 | -1.29 | 55.67 | 28.73 | -0.83 | 56.99 | 27.83 | 0.10 | -9.09 | 0.0 | 7.57 | 230.29 | 87.38 | 43.11 | -9.91 | -8.99 | 104.35 | 25.22 | -17.49 | -4.35 | -126.09 | 85.22 | 28.01 | 29.56 | 11.06 |
| 19Q4 (4) | 14.16 | 32.34 | 0.0 | -16.01 | -182.86 | 0.0 | -19.32 | -157.26 | 0.0 | -17.26 | -119.31 | 0.0 | -2.91 | -144.54 | 0.0 | -1.93 | -153.95 | 0.0 | 0.11 | 10.0 | 0.0 | -5.81 | -169.0 | 0.0 | 47.85 | 4.23 | 0.0 | 83.33 | 9.38 | 0.0 | 16.67 | -30.0 | 0.0 | 21.62 | -14.27 | 0.0 |
| 19Q3 (3) | 10.70 | -2.64 | 0.0 | -5.66 | 0.53 | 0.0 | -7.51 | -38.05 | 0.0 | -7.87 | -45.74 | 0.0 | -1.19 | -40.0 | 0.0 | -0.76 | -46.15 | 0.0 | 0.10 | -9.09 | 0.0 | 8.42 | -15.8 | 0.0 | 45.91 | -3.57 | 0.0 | 76.19 | -28.29 | 0.0 | 23.81 | 480.95 | 0.0 | 25.22 | 6.32 | 0.0 |
| 19Q2 (2) | 10.99 | 168.7 | 0.0 | -5.69 | 61.0 | 0.0 | -5.44 | 52.11 | 0.0 | -5.40 | 53.92 | 0.0 | -0.85 | 53.04 | 0.0 | -0.52 | 54.78 | 0.0 | 0.11 | 10.0 | 0.0 | 10.00 | 147.52 | 0.0 | 47.61 | 0.51 | 0.0 | 106.25 | -15.99 | 0.0 | -6.25 | 78.75 | 0.0 | 23.72 | -5.95 | 0.0 |
| 19Q1 (1) | 4.09 | 0.0 | 0.0 | -14.59 | 0.0 | 0.0 | -11.36 | 0.0 | 0.0 | -11.72 | 0.0 | 0.0 | -1.81 | 0.0 | 0.0 | -1.15 | 0.0 | 0.0 | 0.10 | 0.0 | 0.0 | 4.04 | 0.0 | 0.0 | 47.37 | 0.0 | 0.0 | 126.47 | 0.0 | 0.0 | -29.41 | 0.0 | 0.0 | 25.22 | 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) | 1.65 | -81.81 | -15.15 | 0 | 19.88 | 16.43 | -14.79 | 0 | -12.25 | 0 | -7.75 | 0 | -4.37 | 0 | 0.39 | 0.0 | 6.54 | -37.48 | 61.13 | -0.6 | 102.38 | -10.42 | -2.38 | 0 | 0.07 | 116.58 | 24.58 | -2.65 |
| 2022 (9) | 9.07 | -58.92 | -8.67 | 0 | 17.07 | 73.97 | -7.59 | 0 | -6.05 | 0 | -3.77 | 0 | -2.07 | 0 | 0.39 | -36.07 | 10.46 | -45.92 | 61.50 | 3.17 | 114.29 | 18.71 | -14.29 | 0 | 0.03 | 4.79 | 25.25 | 30.49 |
| 2021 (8) | 22.08 | 48.89 | 8.80 | 707.34 | 9.81 | -19.08 | 9.11 | 550.71 | 8.17 | 558.87 | 7.58 | 751.69 | 5.19 | 574.03 | 0.61 | 24.49 | 19.34 | 37.75 | 59.61 | 37.92 | 96.27 | 23.78 | 3.11 | -86.02 | 0.03 | -16.8 | 19.35 | -11.44 |
| 2020 (7) | 14.83 | 48.0 | 1.09 | 0 | 12.13 | -15.05 | 1.40 | 0 | 1.24 | 0 | 0.89 | 0 | 0.77 | 0 | 0.49 | 13.95 | 14.04 | 248.39 | 43.22 | -9.68 | 77.78 | -19.14 | 22.22 | 482.22 | 0.04 | -48.85 | 21.85 | -8.58 |
| 2019 (6) | 10.02 | -22.33 | -10.59 | 0 | 14.27 | -13.85 | -11.02 | 0 | -10.65 | 0 | -6.76 | 0 | -4.31 | 0 | 0.43 | 7.5 | 4.03 | -61.44 | 47.85 | -5.77 | 96.18 | -14.87 | 3.82 | 0 | 0.07 | -27.24 | 23.90 | -7.51 |
| 2018 (5) | 12.90 | -51.43 | -7.38 | 0 | 16.57 | 0.79 | -6.54 | 0 | -6.55 | 0 | -3.84 | 0 | -2.48 | 0 | 0.40 | -4.76 | 10.45 | -53.9 | 50.78 | 11.87 | 112.99 | -11.05 | -12.99 | 0 | 0.10 | 0 | 25.84 | 12.59 |
| 2017 (4) | 26.56 | 28.37 | 7.58 | 86.24 | 16.44 | -19.23 | 5.99 | 379.2 | 5.08 | 791.23 | 3.08 | 755.56 | 2.15 | 277.19 | 0.42 | -2.33 | 22.67 | -0.35 | 45.39 | 3.7 | 127.03 | -60.15 | -27.03 | 0 | 0.00 | 0 | 22.95 | 10.76 |
| 2016 (3) | 20.69 | 22.21 | 4.07 | 3600.0 | 20.35 | 1.98 | 1.25 | -6.72 | 0.57 | 0 | 0.36 | 0 | 0.57 | 83.87 | 0.43 | -4.44 | 22.75 | 1.88 | 43.77 | -8.74 | 318.75 | 2928.13 | -218.75 | 0 | 0.00 | 0 | 20.72 | -4.52 |
| 2015 (2) | 16.93 | -19.53 | 0.11 | -98.56 | 19.96 | 18.9 | 1.34 | -84.29 | 0.00 | 0 | 0.00 | 0 | 0.31 | -92.17 | 0.45 | -10.0 | 22.33 | -14.58 | 47.96 | -17.68 | 10.53 | -88.33 | 89.47 | 750.0 | 0.00 | 0 | 21.70 | 7.96 |
| 2014 (1) | 21.04 | 0 | 7.66 | 0 | 16.78 | -21.54 | 8.53 | 0 | 7.39 | 0 | 5.76 | 0 | 3.96 | 0 | 0.50 | 8.7 | 26.14 | -4.98 | 58.26 | 9.97 | 90.23 | -13.53 | 10.53 | 0 | 0.00 | 0 | 20.10 | 4.2 |
