- 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) | 0.96 | -88.68 | 104.95 | -13.58 | -1576.54 | 62.99 | -14.53 | -563.47 | 68.32 | -14.53 | -563.47 | 68.32 | -6.59 | -493.69 | 31.85 | -1.57 | -3825.0 | 48.69 | 0.13 | -13.33 | 85.71 | 13.33 | -42.94 | 346.4 | 268.98 | 10.82 | 38.79 | 94.12 | 182.35 | 18.52 | 5.88 | -91.18 | -71.43 | 39.79 | 9.64 | -19.47 |
| 23Q3 (19) | 8.48 | 228.48 | -72.41 | -0.81 | 95.11 | -103.41 | -2.19 | 89.26 | -110.86 | -2.19 | 89.26 | -110.86 | -1.11 | 85.79 | -112.0 | -0.04 | 98.15 | -101.21 | 0.15 | 25.0 | 0.0 | 23.36 | 196.07 | -40.47 | 242.71 | -1.22 | 27.28 | 33.33 | -59.65 | -71.17 | 66.67 | 283.33 | 455.56 | 36.29 | -7.47 | 46.98 |
| 23Q2 (18) | -6.60 | 5.58 | 76.25 | -16.57 | 10.04 | 62.07 | -20.39 | 7.36 | 59.55 | -20.39 | 7.36 | 59.55 | -7.81 | -12.05 | 18.98 | -2.16 | -3.35 | 21.17 | 0.12 | 9.09 | 100.0 | 7.89 | -7.93 | 273.41 | 245.71 | 22.09 | 13.71 | 82.61 | 0.0 | -6.0 | 17.39 | 0.0 | 43.48 | 39.22 | -15.46 | -27.46 |
| 23Q1 (17) | -6.99 | 63.93 | -174.36 | -18.42 | 49.8 | -1080.77 | -22.01 | 52.02 | -320.84 | -22.01 | 52.02 | -291.64 | -6.97 | 27.92 | -341.14 | -2.09 | 31.7 | -646.43 | 0.11 | 57.14 | 22.22 | 8.57 | 258.41 | -63.58 | 201.25 | 3.84 | -12.22 | 82.61 | 4.03 | 106.52 | 17.39 | -15.53 | -78.26 | 46.39 | -6.11 | 22.08 |
| 22Q4 (16) | -19.38 | -163.04 | -220.3 | -36.69 | -254.42 | -986.23 | -45.87 | -327.53 | -363.02 | -45.87 | -327.53 | -363.02 | -9.67 | -204.54 | -269.65 | -3.06 | -192.73 | -261.05 | 0.07 | -53.33 | -30.0 | -5.41 | -113.79 | -112.23 | 193.81 | 1.64 | -11.12 | 79.41 | -31.32 | 217.65 | 20.59 | 209.8 | -72.55 | 49.41 | 100.12 | 47.49 |
| 22Q3 (15) | 30.74 | 210.62 | 185.89 | 23.76 | 154.38 | 142.99 | 20.16 | 139.99 | 133.33 | 20.16 | 139.99 | 133.33 | 9.25 | 195.95 | 190.33 | 3.30 | 220.44 | 235.25 | 0.15 | 150.0 | 275.0 | 39.24 | 962.42 | 2381.4 | 190.69 | -11.75 | -28.71 | 115.62 | 31.57 | 26.46 | -18.75 | -254.69 | -318.75 | 24.69 | -54.34 | -46.49 |
| 22Q2 (14) | -27.79 | -395.64 | 59.37 | -43.69 | -2700.64 | 50.93 | -50.41 | -863.86 | 59.59 | -50.41 | -796.98 | 59.68 | -9.64 | -510.13 | 37.28 | -2.74 | -878.57 | 30.28 | 0.06 | -33.33 | 100.0 | -4.55 | -119.34 | 91.42 | 216.08 | -5.75 | -24.81 | 87.88 | 119.7 | 24.67 | 12.12 | -84.85 | -56.51 | 54.07 | 42.29 | -19.55 |
| 22Q1 (13) | 9.40 | -41.65 | 34.09 | -1.56 | -137.68 | 46.39 | -5.23 | -129.99 | -168.21 | -5.62 | -132.22 | -188.21 | -1.58 | -127.72 | -159.02 | -0.28 | -114.74 | -411.11 | 0.09 | -10.0 | 12.5 | 23.53 | -46.82 | -18.72 | 229.26 | 5.14 | -9.28 | 40.00 | 60.0 | -73.33 | 80.00 | 6.67 | 260.0 | 38.00 | 13.43 | 3.8 |
| 21Q4 (12) | 16.11 | 145.01 | 16.32 | 4.14 | 107.49 | 50.0 | 17.44 | 128.83 | 150.57 | 17.44 | 128.83 | 288.42 | 5.70 | 155.66 | 117.56 | 1.90 | 177.87 | 143.59 | 0.10 | 150.0 | -9.09 | 44.25 | 2672.67 | 34.58 | 218.06 | -18.48 | -37.67 | 25.00 | -72.66 | -37.5 | 75.00 | 775.0 | 25.0 | 33.50 | -27.39 | 1.06 |
| 21Q3 (11) | -35.79 | 47.67 | -210.84 | -55.27 | 37.92 | -325.59 | -60.49 | 51.51 | -332.56 | -60.49 | 51.62 | -332.56 | -10.24 | 33.38 | -141.47 | -2.44 | 37.91 | -165.59 | 0.04 | 33.33 | -69.23 | -1.72 | 96.76 | -103.74 | 267.50 | -6.91 | -50.94 | 91.43 | 29.7 | -2.19 | 8.57 | -69.24 | 31.43 | 46.14 | -31.35 | 95.43 |
| 21Q2 (10) | -68.39 | -1075.61 | -963.61 | -89.03 | -2959.45 | -274.08 | -124.75 | -6297.44 | -382.22 | -125.02 | -6311.28 | -383.26 | -15.37 | -2419.67 | -50.1 | -3.93 | -4466.67 | -289.11 | 0.03 | -62.5 | -40.0 | -53.06 | -283.28 | -300.45 | 287.36 | 13.72 | -60.0 | 70.49 | -53.01 | -20.7 | 27.87 | 155.74 | 401.64 | 67.21 | 83.58 | 0 |
| 21Q1 (9) | 7.01 | -49.39 | 126.09 | -2.91 | -205.43 | 93.3 | -1.95 | -128.02 | 97.21 | -1.95 | -143.43 | 97.21 | -0.61 | -123.28 | 97.71 | 0.09 | -88.46 | 102.36 | 0.08 | -27.27 | 33.33 | 28.95 | -11.95 | 227.09 | 252.70 | -27.77 | -60.94 | 150.00 | 275.0 | 142.65 | -50.00 | -183.33 | -230.95 | 36.61 | 10.44 | 0 |
| 20Q4 (8) | 13.85 | -57.11 | 13.06 | 2.76 | -88.73 | 73.58 | 6.96 | -73.24 | 330.46 | 4.49 | -82.74 | 237.73 | 2.62 | -89.39 | 238.62 | 0.78 | -79.03 | 4000.0 | 0.11 | -15.38 | 10.0 | 32.88 | -28.55 | 33.44 | 349.85 | -35.83 | -25.23 | 40.00 | -57.21 | 180.0 | 60.00 | 820.0 | -60.0 | 33.15 | 40.41 | 0 |
| 20Q3 (7) | 32.29 | 602.18 | 110.63 | 24.50 | 202.94 | 234.7 | 26.01 | 200.54 | 425.45 | 26.01 | 200.54 | 425.45 | 24.69 | 341.11 | 717.55 | 3.72 | 468.32 | 342.86 | 0.13 | 160.0 | 18.18 | 46.02 | 73.86 | 48.31 | 545.23 | -24.11 | 18.06 | 93.48 | 5.16 | -40.51 | 6.52 | 17.39 | 115.22 | 23.61 | 0 | -25.89 |
| 20Q2 (6) | -6.43 | 76.07 | -262.37 | -23.80 | 45.21 | -223.81 | -25.87 | 62.99 | -139.98 | -25.87 | 62.99 | -139.98 | -10.24 | 61.5 | -84.5 | -1.01 | 73.49 | -65.57 | 0.05 | -16.67 | -44.44 | 26.47 | 216.2 | 26.23 | 718.43 | 11.05 | 44.86 | 88.89 | 43.79 | 28.4 | 5.56 | -85.45 | -81.94 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | -26.87 | -319.35 | -836.16 | -43.44 | -2832.08 | -433.66 | -69.90 | -2214.57 | -419.7 | -69.90 | -2044.17 | -419.7 | -26.60 | -1307.41 | -327.65 | -3.81 | -18950.0 | -318.68 | 0.06 | -40.0 | -40.0 | -22.78 | -192.45 | -212.0 | 646.95 | 38.27 | 30.17 | 61.82 | 223.64 | -1.09 | 38.18 | -74.55 | 1.82 | 0.00 | 0 | -100.0 |
| 19Q4 (4) | 12.25 | -20.09 | 0.0 | 1.59 | -78.28 | 0.0 | -3.02 | -161.01 | 0.0 | -3.26 | -165.86 | 0.0 | -1.89 | -162.58 | 0.0 | -0.02 | -102.38 | 0.0 | 0.10 | -9.09 | 0.0 | 24.64 | -20.59 | 0.0 | 467.90 | 1.32 | 0.0 | -50.00 | -131.82 | 0.0 | 150.00 | 450.0 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 15.33 | 287.12 | 0.0 | 7.32 | 199.59 | 0.0 | 4.95 | 145.92 | 0.0 | 4.95 | 145.92 | 0.0 | 3.02 | 154.41 | 0.0 | 0.84 | 237.7 | 0.0 | 0.11 | 22.22 | 0.0 | 31.03 | 47.97 | 0.0 | 461.82 | -6.88 | 0.0 | 157.14 | 126.98 | 0.0 | -42.86 | -239.29 | 0.0 | 31.86 | -15.2 | 0.0 |
| 19Q2 (2) | 3.96 | 8.49 | 0.0 | -7.35 | 9.71 | 0.0 | -10.78 | 19.85 | 0.0 | -10.78 | 19.85 | 0.0 | -5.55 | 10.77 | 0.0 | -0.61 | 32.97 | 0.0 | 0.09 | -10.0 | 0.0 | 20.97 | 3.1 | 0.0 | 495.95 | -0.21 | 0.0 | 69.23 | 10.77 | 0.0 | 30.77 | -17.95 | 0.0 | 37.57 | -12.79 | 0.0 |
| 19Q1 (1) | 3.65 | 0.0 | 0.0 | -8.14 | 0.0 | 0.0 | -13.45 | 0.0 | 0.0 | -13.45 | 0.0 | 0.0 | -6.22 | 0.0 | 0.0 | -0.91 | 0.0 | 0.0 | 0.10 | 0.0 | 0.0 | 20.34 | 0.0 | 0.0 | 497.00 | 0.0 | 0.0 | 62.50 | 0.0 | 0.0 | 37.50 | 0.0 | 0.0 | 43.08 | 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) | -0.44 | 0 | -11.69 | 0 | 25.37 | -5.17 | -14.03 | 0 | -14.03 | 0 | -22.27 | 0 | -5.76 | 0 | 0.49 | 32.43 | 14.05 | -28.86 | 268.98 | 38.79 | 83.58 | 71.34 | 16.42 | -67.95 | 0.10 | 4.7 | 40.10 | 6.9 |
| 2022 (9) | 6.37 | 0 | -5.01 | 0 | 26.75 | -22.98 | -10.17 | 0 | -10.27 | 0 | -11.60 | 0 | -2.84 | 0 | 0.37 | 37.04 | 19.75 | 19.91 | 193.81 | -11.12 | 48.78 | -47.92 | 51.22 | 911.59 | 0.10 | 16.35 | 37.51 | -10.03 |
| 2021 (8) | -8.37 | 0 | -22.23 | 0 | 34.73 | 31.36 | -23.51 | 0 | -23.55 | 0 | -23.85 | 0 | -5.26 | 0 | 0.27 | -22.86 | 16.47 | -40.13 | 218.06 | -37.67 | 93.67 | 430.8 | 5.06 | -93.85 | 0.09 | -43.49 | 41.69 | 20.95 |
| 2020 (7) | 10.98 | 19.35 | -0.70 | 0 | 26.44 | 5.76 | -3.58 | 0 | -4.35 | 0 | -7.73 | 0 | -0.33 | 0 | 0.35 | -22.22 | 27.51 | 11.74 | 349.85 | -25.23 | 17.65 | -23.53 | 82.35 | 7.06 | 0.15 | 1.36 | 34.47 | -4.01 |
| 2019 (6) | 9.20 | 96.58 | -1.13 | 0 | 25.00 | 184.66 | -5.00 | 0 | -5.06 | 0 | -10.65 | 0 | -0.74 | 0 | 0.45 | -10.0 | 24.62 | 487.59 | 467.90 | 67.78 | 23.08 | -71.71 | 76.92 | 317.58 | 0.15 | -62.72 | 35.91 | -8.6 |
| 2018 (5) | 4.68 | -44.68 | -6.18 | 0 | 8.78 | 37.79 | -7.61 | 0 | -7.79 | 0 | -13.65 | 0 | -2.88 | 0 | 0.50 | 4.17 | 4.19 | 26.97 | 278.88 | 23.2 | 81.58 | 25.09 | 18.42 | -47.04 | 0.40 | 0 | 39.29 | 4.05 |
| 2017 (4) | 8.46 | -50.09 | -3.24 | 0 | 6.37 | 19.31 | -4.98 | 0 | -5.17 | 0 | -7.02 | 0 | -1.97 | 0 | 0.48 | -15.79 | 3.30 | -82.05 | 226.37 | 58.1 | 65.22 | 1.9 | 34.78 | -3.38 | 0.00 | 0 | 37.76 | -0.11 |
| 2016 (3) | 16.95 | 5.94 | 6.80 | 149.08 | 5.34 | -19.2 | 10.70 | 91.41 | 2.99 | 166.96 | 13.62 | 125.5 | 5.97 | 114.75 | 0.57 | 16.33 | 18.38 | 23.52 | 143.18 | -13.95 | 64.00 | 28.0 | 36.00 | -28.0 | 0.00 | 0 | 37.80 | -6.11 |
| 2015 (2) | 16.00 | -38.58 | 2.73 | -50.54 | 6.61 | 15.7 | 5.59 | 5.67 | 1.12 | -67.35 | 6.04 | 85.28 | 2.78 | 78.21 | 0.49 | 58.06 | 14.88 | 9.65 | 166.40 | -11.78 | 50.00 | -56.25 | 50.00 | 0 | 0.00 | 0 | 40.26 | 23.04 |
| 2014 (1) | 26.05 | 0 | 5.52 | 0 | 5.71 | -51.84 | 5.29 | 0 | 3.43 | 0 | 3.26 | 0 | 1.56 | 0 | 0.31 | 0.0 | 13.57 | -77.12 | 188.62 | -35.11 | 114.29 | 517.14 | 0.00 | 0 | 0.00 | 0 | 32.72 | 1.05 |
