- 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) | -1.49 | -127.95 | -114.45 | -24.42 | -47.37 | -77.47 | -30.44 | -140.44 | -67.44 | -29.17 | -164.94 | -60.54 | -5.53 | -177.89 | -61.7 | -3.75 | -186.26 | -66.67 | 0.13 | 8.33 | 0.0 | -22.16 | -449.88 | -110.05 | 46.62 | 3.62 | -5.09 | 80.37 | -37.96 | 6.65 | 19.63 | 161.68 | -20.34 | 26.86 | -11.35 | 6.5 |
| 23Q3 (19) | 5.33 | -67.52 | 247.65 | -16.57 | -975.97 | 35.15 | -12.66 | -584.32 | -9.04 | -11.01 | -345.75 | -4.76 | -1.99 | -314.58 | -2.58 | -1.31 | -367.86 | -2.34 | 0.12 | -7.69 | -7.69 | -4.03 | -165.74 | 9.84 | 44.99 | -5.76 | -7.79 | 129.55 | 51.14 | -41.24 | -31.82 | -322.73 | 73.58 | 30.30 | 13.23 | 22.42 |
| 23Q2 (18) | 16.41 | 149.39 | 8.82 | -1.54 | 92.76 | -178.97 | -1.85 | 93.16 | -119.83 | -2.47 | 89.05 | -139.33 | -0.48 | 80.65 | -130.97 | -0.28 | 82.82 | -125.23 | 0.13 | 85.71 | -23.53 | 6.13 | 145.64 | -55.71 | 47.74 | -3.12 | 7.81 | 85.71 | 8.07 | 311.43 | 14.29 | -30.95 | -81.95 | 26.76 | -33.05 | 25.81 |
| 23Q1 (17) | 6.58 | -36.18 | 51.61 | -21.27 | -54.58 | -115.72 | -27.03 | -48.68 | -567.41 | -22.56 | -24.16 | -559.65 | -2.48 | 27.49 | -226.32 | -1.63 | 27.56 | -232.65 | 0.07 | -46.15 | -53.33 | -13.43 | -27.3 | -1643.68 | 49.28 | 0.33 | 11.34 | 79.31 | 5.24 | -66.51 | 20.69 | -16.02 | 114.56 | 39.97 | 58.49 | 74.47 |
| 22Q4 (16) | 10.31 | 385.6 | -0.77 | -13.76 | 46.14 | 22.08 | -18.18 | -56.59 | -242.48 | -18.17 | -72.88 | -387.05 | -3.42 | -76.29 | -280.0 | -2.25 | -75.78 | -275.78 | 0.13 | 0.0 | -35.0 | -10.55 | -136.02 | -151.41 | 49.12 | 0.68 | 3.65 | 75.36 | -65.82 | 154.43 | 24.64 | 120.45 | -89.72 | 25.22 | 1.9 | -4.79 |
| 22Q3 (15) | -3.61 | -123.94 | -142.93 | -25.55 | -1410.26 | -17.2 | -11.61 | -224.44 | 44.92 | -10.51 | -267.36 | 44.8 | -1.94 | -225.16 | 63.81 | -1.28 | -215.32 | 60.98 | 0.13 | -23.53 | -23.53 | -4.47 | -132.3 | 62.66 | 48.79 | 10.19 | -18.86 | 220.45 | 958.18 | 113.62 | -120.45 | -252.15 | -3664.2 | 24.75 | 16.36 | -1.28 |
| 22Q2 (14) | 15.08 | 247.47 | 14.85 | 1.95 | 119.78 | 111.7 | 9.33 | 330.37 | 162.87 | 6.28 | 283.63 | 146.66 | 1.55 | 303.95 | 138.65 | 1.11 | 326.53 | 144.58 | 0.17 | 13.33 | -10.53 | 13.84 | 1490.8 | 311.94 | 44.28 | 0.05 | -28.36 | 20.83 | -91.2 | -81.44 | 79.17 | 155.71 | 746.53 | 21.27 | -7.16 | -7.96 |
| 22Q1 (13) | 4.34 | -58.23 | -68.3 | -9.86 | 44.17 | -39.86 | -4.05 | -131.74 | 22.12 | -3.42 | -154.03 | 34.23 | -0.76 | -140.0 | 50.33 | -0.49 | -138.28 | 48.96 | 0.15 | -25.0 | -21.05 | 0.87 | -95.76 | -70.51 | 44.26 | -6.6 | -18.88 | 236.84 | 271.05 | 72.7 | -142.11 | -159.27 | -282.59 | 22.91 | -13.51 | 3.81 |
| 21Q4 (12) | 10.39 | 23.54 | -3.17 | -17.66 | 18.99 | -9.15 | 12.76 | 160.53 | 236.62 | 6.33 | 133.25 | 188.78 | 1.90 | 135.45 | 201.06 | 1.28 | 139.02 | 204.07 | 0.20 | 17.65 | 11.11 | 20.52 | 271.43 | 6512.5 | 47.39 | -21.19 | -7.89 | -138.46 | -234.17 | -179.51 | 239.74 | 7591.99 | 423.38 | 26.49 | 5.66 | 17.79 |
| 21Q3 (11) | 8.41 | -35.95 | 15.68 | -21.80 | -30.85 | -69.52 | -21.08 | -42.05 | -288.93 | -19.04 | -41.46 | -146.95 | -5.36 | -33.67 | -208.05 | -3.28 | -31.73 | -166.67 | 0.17 | -10.53 | 6.25 | -11.97 | -83.31 | -455.19 | 60.13 | -2.72 | 34.88 | 103.20 | -8.06 | -57.13 | -3.20 | 73.87 | 97.73 | 25.07 | 8.48 | 10.98 |
| 21Q2 (10) | 13.13 | -4.09 | -15.56 | -16.66 | -136.31 | -824.35 | -14.84 | -185.38 | -698.39 | -13.46 | -158.85 | -544.22 | -4.01 | -162.09 | -842.59 | -2.49 | -159.38 | -653.33 | 0.19 | 0.0 | 35.71 | -6.53 | -321.36 | -177.55 | 61.81 | 13.29 | 106.79 | 112.24 | -18.15 | 26.28 | -12.24 | 67.03 | -210.2 | 23.11 | 4.71 | 0 |
| 21Q1 (9) | 13.69 | 27.59 | 14.75 | -7.05 | 56.43 | 52.04 | -5.20 | 44.33 | 0.19 | -5.20 | 27.07 | 29.44 | -1.53 | 18.62 | -142.86 | -0.96 | 21.95 | -92.0 | 0.19 | 5.56 | 171.43 | 2.95 | 1021.88 | 4.61 | 54.56 | 6.04 | 132.27 | 137.14 | -21.24 | -52.53 | -37.14 | 49.9 | 80.34 | 22.07 | -1.87 | 0 |
| 20Q4 (8) | 10.73 | 47.59 | -45.34 | -16.18 | -25.82 | -394.72 | -9.34 | -72.32 | -6771.43 | -7.13 | 7.52 | -186.35 | -1.88 | -8.05 | -308.7 | -1.23 | 0.0 | -223.68 | 0.18 | 12.5 | 12.5 | -0.32 | -109.5 | -108.58 | 51.45 | 15.41 | 180.23 | 174.14 | -27.67 | -92.08 | -74.14 | 47.32 | 96.63 | 22.49 | -0.44 | -37.72 |
| 20Q3 (7) | 7.27 | -53.25 | -67.62 | -12.86 | -659.13 | -427.23 | -5.42 | -318.55 | -162.23 | -7.71 | -354.46 | -265.45 | -1.74 | -422.22 | -363.64 | -1.23 | -373.33 | -315.79 | 0.16 | 14.29 | 33.33 | 3.37 | -59.98 | -75.95 | 44.58 | 49.15 | 118.0 | 240.74 | 170.83 | 441.67 | -140.74 | -1366.67 | -353.33 | 22.59 | 0 | -12.85 |
| 20Q2 (6) | 15.55 | 30.34 | -9.59 | 2.30 | 115.65 | 243.75 | 2.48 | 147.6 | -74.35 | 3.03 | 141.11 | -46.47 | 0.54 | 185.71 | -29.87 | 0.45 | 190.0 | -30.77 | 0.14 | 100.0 | 27.27 | 8.42 | 198.58 | -45.47 | 29.89 | 27.25 | 59.75 | 88.89 | -69.23 | 597.78 | 11.11 | 105.88 | -90.28 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 11.93 | -39.23 | -43.46 | -14.70 | -367.76 | -1341.18 | -5.21 | -3821.43 | -209.0 | -7.37 | -195.98 | -377.07 | -0.63 | -36.96 | -303.23 | -0.50 | -31.58 | -278.57 | 0.07 | -56.25 | -30.0 | 2.82 | -24.4 | -77.15 | 23.49 | 27.94 | 26.22 | 288.89 | -86.87 | 1688.89 | -188.89 | 91.41 | -248.41 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 19.63 | -12.56 | 0.0 | 5.49 | 39.69 | 0.0 | 0.14 | -98.39 | 0.0 | -2.49 | -153.43 | 0.0 | -0.46 | -169.7 | 0.0 | -0.38 | -166.67 | 0.0 | 0.16 | 33.33 | 0.0 | 3.73 | -73.38 | 0.0 | 18.36 | -10.22 | 0.0 | 2200.00 | 4850.0 | 0.0 | -2200.00 | -4060.0 | 0.0 | 36.11 | 39.31 | 0.0 |
| 19Q3 (3) | 22.45 | 30.52 | 0.0 | 3.93 | 345.62 | 0.0 | 8.71 | -9.93 | 0.0 | 4.66 | -17.67 | 0.0 | 0.66 | -14.29 | 0.0 | 0.57 | -12.31 | 0.0 | 0.12 | 9.09 | 0.0 | 14.01 | -9.26 | 0.0 | 20.45 | 9.3 | 0.0 | 44.44 | 348.89 | 0.0 | 55.56 | -51.39 | 0.0 | 25.92 | 8.77 | 0.0 |
| 19Q2 (2) | 17.20 | -18.48 | 0.0 | -1.60 | -56.86 | 0.0 | 9.67 | 102.3 | 0.0 | 5.66 | 112.78 | 0.0 | 0.77 | 148.39 | 0.0 | 0.65 | 132.14 | 0.0 | 0.11 | 10.0 | 0.0 | 15.44 | 25.12 | 0.0 | 18.71 | 0.54 | 0.0 | -17.86 | 1.79 | 0.0 | 114.29 | -10.2 | 0.0 | 23.83 | -36.74 | 0.0 |
| 19Q1 (1) | 21.10 | 0.0 | 0.0 | -1.02 | 0.0 | 0.0 | 4.78 | 0.0 | 0.0 | 2.66 | 0.0 | 0.0 | 0.31 | 0.0 | 0.0 | 0.28 | 0.0 | 0.0 | 0.10 | 0.0 | 0.0 | 12.34 | 0.0 | 0.0 | 18.61 | 0.0 | 0.0 | -18.18 | 0.0 | 0.0 | 127.27 | 0.0 | 0.0 | 37.67 | 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) | 6.90 | -2.68 | -15.13 | 0 | 7.91 | 55.65 | -16.78 | 0 | -15.41 | 0 | -10.55 | 0 | -6.94 | 0 | 0.46 | -20.69 | -7.53 | 0 | 46.62 | -5.09 | 90.28 | -58.79 | 9.72 | 0 | 0.65 | -16.15 | 29.95 | 28.38 |
| 2022 (9) | 7.09 | -38.45 | -10.66 | 0 | 5.08 | -2.1 | -4.84 | 0 | -5.33 | 0 | -4.59 | 0 | -2.94 | 0 | 0.58 | -24.68 | 0.98 | -22.22 | 49.12 | 3.65 | 219.05 | -0.74 | -120.24 | 0 | 0.78 | 111.35 | 23.33 | -3.24 |
| 2021 (8) | 11.52 | 5.98 | -15.54 | 0 | 5.19 | -12.09 | -7.06 | 0 | -7.78 | 0 | -9.01 | 0 | -5.83 | 0 | 0.77 | 40.0 | 1.26 | -59.35 | 47.39 | -7.89 | 220.67 | 3.14 | -120.67 | 0 | 0.37 | -97.24 | 24.11 | -6.26 |
| 2020 (7) | 10.87 | -45.79 | -10.97 | 0 | 5.91 | 19.01 | -5.13 | 0 | -5.10 | 0 | -3.80 | 0 | -2.68 | 0 | 0.55 | 10.0 | 3.10 | -70.7 | 51.45 | 180.23 | 213.95 | 423.0 | -113.95 | 0 | 13.29 | 16752.27 | 25.72 | -17.06 |
| 2019 (6) | 20.05 | 6.14 | 2.21 | 44.44 | 4.96 | 18.69 | 5.38 | 61.08 | 2.17 | -9.21 | 1.29 | -17.83 | 1.14 | -17.99 | 0.50 | -10.71 | 10.58 | 36.87 | 18.36 | -6.85 | 40.91 | -10.96 | 59.09 | 9.32 | 0.08 | -6.07 | 31.01 | -2.76 |
| 2018 (5) | 18.89 | -17.0 | 1.53 | 159.32 | 4.18 | -17.44 | 3.34 | -34.77 | 2.39 | -52.77 | 1.57 | -37.7 | 1.39 | -35.94 | 0.56 | 30.23 | 7.73 | -24.73 | 19.71 | 47.31 | 45.95 | 302.03 | 54.05 | -38.97 | 0.08 | -35.35 | 31.89 | -15.84 |
| 2017 (4) | 22.76 | 8.07 | 0.59 | 0 | 5.07 | -2.99 | 5.12 | -51.28 | 5.06 | -50.1 | 2.52 | -68.5 | 2.17 | -64.66 | 0.43 | -27.12 | 10.27 | -35.37 | 13.38 | -32.22 | 11.43 | 0 | 88.57 | -51.83 | 0.13 | 0 | 37.89 | -7.99 |
| 2016 (3) | 21.06 | 40.96 | -8.95 | 0 | 5.22 | 2.87 | 10.51 | 514.62 | 10.14 | 541.77 | 8.00 | 346.93 | 6.14 | 379.69 | 0.59 | -7.81 | 15.89 | 119.48 | 19.74 | -63.97 | -84.95 | 0 | 183.87 | -51.77 | 0.00 | 0 | 41.18 | 13.85 |
| 2015 (2) | 14.94 | 0 | -4.90 | 0 | 5.08 | -25.98 | 1.71 | 0 | 1.58 | 0 | 1.79 | 0 | 1.28 | 0 | 0.64 | -1.54 | 7.24 | 0 | 54.79 | -43.5 | -281.25 | 0 | 381.25 | 863.95 | 0.00 | 0 | 36.17 | -10.76 |
| 2014 (1) | -3.62 | 0 | -26.98 | 0 | 6.86 | 115.32 | -44.63 | 0 | -39.29 | 0 | -55.61 | 0 | -26.02 | 0 | 0.65 | -38.68 | -36.98 | 0 | 96.97 | -19.51 | 60.45 | -23.0 | 39.55 | 87.87 | 0.00 | 0 | 40.53 | 65.16 |
