- 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) | -16.43 | -5576.67 | -630.22 | -35.78 | -165.63 | -7.51 | -37.00 | -183.09 | 5.92 | -32.20 | -195.14 | -4.58 | -10.02 | -179.11 | -75.79 | -2.53 | -181.11 | -41.34 | 0.09 | -10.0 | 28.57 | -20.96 | -7385.71 | -21.51 | 296.32 | 28.79 | 71.4 | 96.97 | -6.0 | 14.93 | 3.46 | 209.67 | -77.07 | 33.33 | 36.6 | -2.37 |
| 23Q3 (19) | 0.30 | -80.13 | -98.1 | -13.47 | -4.42 | -377.66 | -13.07 | -4.9 | -368.46 | -10.91 | -33.37 | -281.47 | -3.59 | -41.34 | -354.43 | -0.90 | -60.71 | -291.3 | 0.10 | 0.0 | -9.09 | -0.28 | -132.94 | -103.52 | 230.08 | 4.13 | 52.42 | 103.16 | -1.33 | 3.16 | -3.16 | 7.37 | 0 | 24.40 | 11.88 | 4.5 |
| 23Q2 (18) | 1.51 | 116.74 | -92.39 | -12.90 | 51.23 | -310.78 | -12.46 | 57.62 | -525.26 | -8.18 | 66.39 | -744.09 | -2.54 | 50.0 | -704.76 | -0.56 | 62.16 | -251.35 | 0.10 | 42.86 | -23.08 | 0.85 | 107.71 | -93.3 | 220.96 | 1.43 | 38.11 | 104.55 | 16.25 | -49.59 | -3.41 | -133.86 | 96.83 | 21.81 | -30.3 | 11.5 |
| 23Q1 (17) | -9.02 | -300.89 | -160.54 | -26.45 | 20.52 | -1851.66 | -29.40 | 25.25 | -8747.06 | -24.34 | 20.95 | -6305.26 | -5.08 | 10.88 | -4133.33 | -1.48 | 17.32 | -1157.14 | 0.07 | 0.0 | -46.15 | -11.02 | 36.12 | -208.36 | 217.85 | 26.01 | 48.06 | 89.93 | 6.59 | -80.73 | 10.07 | -33.35 | 102.75 | 31.29 | -8.35 | 52.93 |
| 22Q4 (16) | -2.25 | -114.28 | -110.67 | -33.28 | -1080.14 | -442.39 | -39.33 | -1309.68 | -320.96 | -30.79 | -976.57 | -309.88 | -5.70 | -621.52 | -223.64 | -1.79 | -678.26 | -181.74 | 0.07 | -36.36 | -50.0 | -17.25 | -316.71 | -162.48 | 172.88 | 14.53 | 18.71 | 84.38 | -15.62 | 54.03 | 15.10 | 0 | -66.6 | 34.14 | 46.21 | 83.55 |
| 22Q3 (15) | 15.76 | -20.6 | -27.17 | -2.82 | -146.08 | -126.6 | -2.79 | -195.22 | -123.7 | -2.86 | -325.2 | -131.02 | -0.79 | -288.1 | -125.16 | -0.23 | -162.16 | -113.53 | 0.11 | -15.38 | -31.25 | 7.96 | -37.27 | -61.11 | 150.95 | -5.65 | 37.89 | 100.00 | -51.79 | 11.11 | -0.00 | 100.0 | -100.0 | 23.35 | 19.38 | 27.04 |
| 22Q2 (14) | 19.85 | 33.22 | -9.53 | 6.12 | 305.3 | -48.05 | 2.93 | 761.76 | -77.8 | 1.27 | 434.21 | -85.57 | 0.42 | 450.0 | -86.71 | 0.37 | 164.29 | -79.21 | 0.13 | 0.0 | -27.78 | 12.69 | 24.78 | -41.55 | 159.99 | 8.73 | 50.79 | 207.41 | -55.56 | 132.88 | -107.41 | 70.71 | -1082.01 | 19.56 | -4.4 | 11.14 |
| 22Q1 (13) | 14.90 | -29.35 | -33.18 | 1.51 | -84.47 | -86.43 | 0.34 | -98.09 | -97.06 | -0.38 | -102.59 | -104.03 | -0.12 | -102.6 | -103.73 | 0.14 | -93.61 | -91.95 | 0.13 | -7.14 | -23.53 | 10.17 | -63.17 | -47.11 | 147.14 | 1.04 | 46.77 | 466.67 | 751.94 | 385.15 | -366.67 | -910.8 | -9725.0 | 20.46 | 10.0 | 10.36 |
| 21Q4 (12) | 21.09 | -2.54 | -8.7 | 9.72 | -8.3 | -12.04 | 17.80 | 51.23 | 5.58 | 14.67 | 59.11 | -17.26 | 4.61 | 46.82 | -34.89 | 2.19 | 28.82 | -41.13 | 0.14 | -12.5 | -30.0 | 27.61 | 34.88 | 14.9 | 145.63 | 33.03 | 58.21 | 54.78 | -39.14 | -16.53 | 45.22 | 352.23 | 31.56 | 18.60 | 1.2 | 7.08 |
| 21Q3 (11) | 21.64 | -1.37 | -4.04 | 10.60 | -10.02 | -20.18 | 11.77 | -10.83 | -28.58 | 9.22 | 4.77 | -28.47 | 3.14 | -0.63 | -45.86 | 1.70 | -4.49 | -44.08 | 0.16 | -11.11 | -30.43 | 20.47 | -5.71 | -13.56 | 109.47 | 3.18 | 9.46 | 90.00 | 1.05 | 11.95 | 10.00 | -8.57 | -49.0 | 18.38 | 4.43 | 10.32 |
| 21Q2 (10) | 21.94 | -1.61 | 11.31 | 11.78 | 5.84 | 23.87 | 13.20 | 14.29 | 31.08 | 8.80 | -6.78 | 25.89 | 3.16 | -1.86 | 15.75 | 1.78 | 2.3 | 18.67 | 0.18 | 5.88 | -10.0 | 21.71 | 12.9 | 18.12 | 106.10 | 5.84 | 10.93 | 89.06 | -7.41 | -6.19 | 10.94 | 187.11 | 116.02 | 17.60 | -5.07 | 0 |
| 21Q1 (9) | 22.30 | -3.46 | 64.82 | 11.13 | 0.72 | 401.35 | 11.55 | -31.49 | 2164.71 | 9.44 | -46.76 | 2095.35 | 3.22 | -54.52 | 2376.92 | 1.74 | -53.23 | 866.67 | 0.17 | -15.0 | 13.33 | 19.23 | -19.98 | 67.22 | 100.25 | 8.91 | 13.33 | 96.19 | 46.58 | -77.8 | 3.81 | -88.92 | 101.14 | 18.54 | 6.74 | -9.56 |
| 20Q4 (8) | 23.10 | 2.44 | 29.78 | 11.05 | -16.79 | 2.31 | 16.86 | 2.31 | -71.25 | 17.73 | 37.55 | -67.94 | 7.08 | 22.07 | -67.93 | 3.72 | 22.37 | -64.97 | 0.20 | -13.04 | 5.26 | 24.03 | 1.48 | -64.73 | 92.05 | -7.96 | 0.32 | 65.62 | -18.37 | 256.48 | 34.38 | 75.31 | -57.87 | 17.37 | 4.26 | 0 |
| 20Q3 (7) | 22.55 | 14.41 | 55.73 | 13.28 | 39.64 | 175.52 | 16.48 | 63.65 | 340.64 | 12.89 | 84.41 | 380.97 | 5.80 | 112.45 | 387.39 | 3.04 | 102.67 | 347.06 | 0.23 | 15.0 | 21.05 | 23.68 | 28.84 | 83.0 | 100.01 | 4.56 | -25.78 | 80.39 | -15.32 | -36.99 | 19.61 | 287.25 | 171.08 | 16.66 | 0 | -11.99 |
| 20Q2 (6) | 19.71 | 45.68 | 9.68 | 9.51 | 328.38 | 60.37 | 10.07 | 1874.51 | 78.23 | 6.99 | 1525.58 | -7.91 | 2.73 | 2000.0 | -26.61 | 1.50 | 733.33 | -13.29 | 0.20 | 33.33 | 0.0 | 18.38 | 59.83 | 15.09 | 95.65 | 8.13 | -30.72 | 94.94 | -78.09 | -10.76 | 5.06 | 101.52 | 218.99 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 13.53 | -23.99 | -28.11 | 2.22 | -79.44 | -69.92 | 0.51 | -99.13 | -92.83 | 0.43 | -99.22 | -93.6 | 0.13 | -99.41 | -95.36 | 0.18 | -98.31 | -86.26 | 0.15 | -21.05 | -6.25 | 11.50 | -83.12 | -36.43 | 88.46 | -3.6 | -40.31 | 433.33 | 2253.91 | 316.34 | -333.33 | -508.54 | -8066.67 | 20.50 | 0 | -1.39 |
| 19Q4 (4) | 17.80 | 22.93 | 0.0 | 10.80 | 124.07 | 0.0 | 58.64 | 1467.91 | 0.0 | 55.30 | 1963.43 | 0.0 | 22.08 | 1755.46 | 0.0 | 10.62 | 1461.76 | 0.0 | 0.19 | 0.0 | 0.0 | 68.13 | 426.51 | 0.0 | 91.76 | -31.9 | 0.0 | 18.41 | -85.57 | 0.0 | 81.59 | 395.77 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 14.48 | -19.42 | 0.0 | 4.82 | -18.72 | 0.0 | 3.74 | -33.81 | 0.0 | 2.68 | -64.69 | 0.0 | 1.19 | -68.01 | 0.0 | 0.68 | -60.69 | 0.0 | 0.19 | -5.0 | 0.0 | 12.94 | -18.97 | 0.0 | 134.75 | -2.4 | 0.0 | 127.59 | 19.93 | 0.0 | -27.59 | -548.28 | 0.0 | 18.93 | 7.8 | 0.0 |
| 19Q2 (2) | 17.97 | -4.52 | 0.0 | 5.93 | -19.65 | 0.0 | 5.65 | -20.53 | 0.0 | 7.59 | 12.95 | 0.0 | 3.72 | 32.86 | 0.0 | 1.73 | 32.06 | 0.0 | 0.20 | 25.0 | 0.0 | 15.97 | -11.72 | 0.0 | 138.06 | -6.84 | 0.0 | 106.38 | 2.21 | 0.0 | -4.26 | -4.26 | 0.0 | 17.56 | -15.54 | 0.0 |
| 19Q1 (1) | 18.82 | 0.0 | 0.0 | 7.38 | 0.0 | 0.0 | 7.11 | 0.0 | 0.0 | 6.72 | 0.0 | 0.0 | 2.80 | 0.0 | 0.0 | 1.31 | 0.0 | 0.0 | 0.16 | 0.0 | 0.0 | 18.09 | 0.0 | 0.0 | 148.20 | 0.0 | 0.0 | 104.08 | 0.0 | 0.0 | -4.08 | 0.0 | 0.0 | 20.79 | 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) | -5.28 | 0 | -21.31 | 0 | 10.93 | 21.54 | -21.95 | 0 | -17.99 | 0 | -21.24 | 0 | -5.59 | 0 | 0.36 | -20.0 | -7.12 | 0 | 296.32 | 71.4 | 97.16 | 56.49 | 3.01 | -92.05 | 0.10 | -33.24 | 27.22 | 17.99 |
| 2022 (9) | 13.87 | -36.23 | -3.69 | 0 | 9.00 | 27.5 | -5.95 | 0 | -5.32 | 0 | -6.12 | 0 | -1.49 | 0 | 0.45 | -27.42 | 6.03 | -72.84 | 172.88 | 18.71 | 62.09 | -22.58 | 37.91 | 89.56 | 0.14 | -23.18 | 23.07 | 26.27 |
| 2021 (8) | 21.75 | 6.77 | 10.83 | 11.76 | 7.06 | -3.95 | 13.53 | 11.73 | 10.46 | -1.13 | 14.24 | -3.78 | 7.12 | -11.99 | 0.62 | -15.07 | 22.20 | 9.58 | 145.63 | 58.21 | 80.20 | 0.19 | 20.00 | 0.25 | 0.19 | 376.39 | 18.27 | 2.7 |
| 2020 (7) | 20.37 | 18.09 | 9.69 | 34.96 | 7.35 | -3.96 | 12.11 | -34.72 | 10.58 | -40.93 | 14.80 | -50.27 | 8.09 | -41.63 | 0.73 | 0.0 | 20.26 | -28.99 | 92.05 | 0.32 | 80.05 | 106.52 | 19.95 | -67.42 | 0.04 | -48.23 | 17.79 | -2.09 |
| 2019 (6) | 17.25 | 36.26 | 7.18 | 189.52 | 7.65 | 20.91 | 18.55 | 0 | 17.91 | 0 | 29.76 | 0 | 13.86 | 0 | 0.73 | -17.98 | 28.53 | 352.86 | 91.76 | -46.8 | 38.76 | 0 | 61.24 | -77.38 | 0.08 | -15.47 | 18.17 | -7.81 |
| 2018 (5) | 12.66 | -14.8 | 2.48 | -60.76 | 6.33 | -10.38 | -1.44 | 0 | -2.20 | 0 | -5.16 | 0 | -1.15 | 0 | 0.89 | 1.14 | 6.30 | -56.97 | 172.49 | 12.29 | -170.69 | 0 | 270.69 | 0 | 0.09 | 311.41 | 19.71 | 5.12 |
| 2017 (4) | 14.86 | 42.34 | 6.32 | 0 | 7.06 | -30.48 | 6.30 | 0 | 5.50 | 0 | 12.27 | 0 | 5.71 | 0 | 0.88 | 22.22 | 14.64 | 61.23 | 153.61 | 1.2 | 100.00 | 97.5 | -0.41 | 0 | 0.02 | 0 | 18.75 | -18.23 |
| 2016 (3) | 10.44 | 438.14 | -1.26 | 0 | 10.16 | -26.41 | -2.50 | 0 | -4.55 | 0 | -7.99 | 0 | -2.51 | 0 | 0.72 | 41.18 | 9.08 | 0 | 151.79 | 11.81 | 50.63 | -42.55 | 49.37 | 315.82 | 0.00 | 0 | 22.93 | -16.13 |
| 2015 (2) | 1.94 | -84.15 | -15.27 | 0 | 13.80 | 17.04 | -17.31 | 0 | -16.47 | 0 | -19.11 | 0 | -7.60 | 0 | 0.51 | -13.56 | -1.30 | 0 | 135.76 | 15.83 | 88.13 | 0 | 11.87 | -92.65 | 0.00 | 0 | 27.34 | 38.85 |
| 2014 (1) | 12.24 | 0 | -0.51 | 0 | 11.79 | -11.59 | 0.85 | 0 | 0.43 | 0 | 0.55 | 0 | 1.06 | 0 | 0.59 | 1.72 | 14.43 | 10.07 | 117.21 | -1.39 | -61.54 | 0 | 161.54 | 0 | 0.00 | 0 | 19.69 | 5.75 |
