- 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) | 9.95 | -73.19 | -59.65 | -28.31 | -682.04 | -538.91 | 106.10 | 37.06 | 34125.81 | 105.66 | 38.01 | 1573.64 | 1.80 | 89.47 | 720.69 | 1.09 | 84.75 | 1008.33 | 0.01 | 0.0 | -50.0 | 123.08 | 23.08 | 1471.9 | 70.38 | -7.17 | -1.32 | -27.27 | -690.91 | 0 | 127.27 | 23.03 | 0 | 18.12 | -1.52 | 378.1 |
| 23Q3 (19) | 37.11 | -38.02 | 48.62 | -3.62 | 68.05 | -131.45 | 77.41 | -72.29 | 55.57 | 76.56 | -71.82 | 63.38 | 0.95 | -50.26 | -62.0 | 0.59 | -48.7 | -65.09 | 0.01 | 0 | -75.0 | 100.00 | -68.18 | 81.39 | 75.82 | 0.17 | 40.54 | -3.45 | 1.72 | -114.94 | 103.45 | -1.72 | 34.48 | 18.40 | -45.98 | 384.21 |
| 23Q2 (18) | 59.87 | 123.98 | 197.42 | -11.33 | -296.02 | -241.62 | 279.36 | 329.65 | 1012.54 | 271.67 | 332.94 | 1114.44 | 1.91 | -3.54 | 36.43 | 1.15 | -4.96 | 16.16 | 0.00 | -100.0 | -100.0 | 314.29 | 322.21 | 978.18 | 75.69 | 2.77 | 52.82 | -3.51 | -141.4 | -110.96 | 105.26 | 17.18 | 54.8 | 34.06 | 335.55 | 1129.6 |
| 23Q1 (17) | 26.73 | 8.39 | 59.2 | 5.78 | -10.39 | 1509.76 | 65.02 | 20874.19 | 91.74 | 62.75 | 975.17 | 84.4 | 1.98 | 782.76 | 92.23 | 1.21 | 1108.33 | 63.51 | 0.02 | 0.0 | 0.0 | 74.44 | 850.7 | 74.86 | 73.65 | 3.27 | 54.4 | 8.47 | 0 | 0 | 89.83 | 0 | -12.74 | 7.82 | 106.33 | 35.76 |
| 22Q4 (16) | 24.66 | -1.24 | 23.98 | 6.45 | -43.96 | -37.38 | 0.31 | -99.38 | -98.29 | -7.17 | -115.3 | -142.18 | -0.29 | -111.6 | -108.43 | -0.12 | -107.1 | -104.32 | 0.02 | -50.0 | -86.67 | 7.83 | -85.8 | -67.56 | 71.32 | 32.2 | 52.13 | 0.00 | -100.0 | -100.0 | 0.00 | -100.0 | -100.0 | 3.79 | -0.26 | 362.2 |
| 22Q3 (15) | 24.97 | 24.04 | 2908.43 | 11.51 | 43.88 | 126.83 | 49.76 | 98.17 | -80.15 | 46.86 | 109.48 | -81.3 | 2.50 | 78.57 | 17.37 | 1.69 | 70.71 | -4.52 | 0.04 | 0.0 | 300.0 | 55.13 | 89.13 | -77.71 | 53.95 | 8.92 | 126.59 | 23.08 | -27.88 | 235.58 | 76.92 | 13.12 | -34.27 | 3.80 | 37.18 | -88.52 |
| 22Q2 (14) | 20.13 | 19.89 | 13520.0 | 8.00 | 2051.22 | 121.66 | 25.11 | -25.95 | 87.39 | 22.37 | -34.26 | 209.76 | 1.40 | 35.92 | 923.53 | 0.99 | 33.78 | 760.0 | 0.04 | 100.0 | 300.0 | 29.15 | -31.52 | 84.61 | 49.53 | 3.84 | 203.49 | 32.00 | 0 | 113.71 | 68.00 | -33.94 | -79.6 | 2.77 | -51.91 | -90.2 |
| 22Q1 (13) | 16.79 | -15.59 | 1401.55 | -0.41 | -103.98 | 98.89 | 33.91 | 87.35 | -74.98 | 34.03 | 100.18 | -74.55 | 1.03 | -70.06 | -22.56 | 0.74 | -73.38 | -37.82 | 0.02 | -86.67 | 100.0 | 42.57 | 76.35 | -68.42 | 47.70 | 1.75 | 200.76 | 0.00 | -100.0 | 100.0 | 102.94 | 139.4 | -18.17 | 5.76 | 602.44 | -77.15 |
| 21Q4 (12) | 19.89 | 2296.39 | 765.22 | 10.30 | 124.01 | 136.32 | 18.10 | -92.78 | 101.79 | 17.00 | -93.21 | 101.68 | 3.44 | 61.5 | 132.54 | 2.78 | 57.06 | 127.42 | 0.15 | 1400.0 | 1400.0 | 24.14 | -90.24 | 102.43 | 46.88 | 96.89 | 497.2 | 57.00 | 434.88 | 1846.14 | 43.00 | -63.25 | -55.7 | 0.82 | -97.52 | -95.03 |
| 21Q3 (11) | 0.83 | 653.33 | 140.69 | -42.90 | -16.17 | -13.52 | 250.70 | 1770.9 | 79.44 | 250.54 | 1329.34 | 90.66 | 2.13 | 1352.94 | 90.18 | 1.77 | 1280.0 | 75.25 | 0.01 | 0.0 | 0.0 | 247.37 | 1466.62 | 76.69 | 23.81 | 45.89 | 3563.08 | -17.02 | 92.71 | 31.91 | 117.02 | -64.89 | -6.38 | 33.11 | 17.12 | 15.33 |
| 21Q2 (10) | -0.15 | 88.37 | 94.34 | -36.93 | 0.16 | 3.38 | 13.40 | -90.11 | 110.41 | -20.38 | -115.24 | 81.87 | -0.17 | -112.78 | 80.68 | -0.15 | -112.61 | 81.25 | 0.01 | 0.0 | 0.0 | 15.79 | -88.28 | 112.63 | 16.32 | 2.9 | -24.13 | -233.33 | -804.17 | -858.33 | 333.33 | 164.96 | 381.48 | 28.27 | 12.14 | 0 |
| 21Q1 (9) | -1.29 | 56.86 | -396.15 | -36.99 | -30.43 | -118.88 | 135.52 | 113.38 | 14365.26 | 133.70 | 113.19 | 962.58 | 1.33 | 112.58 | 592.59 | 1.19 | 111.74 | 540.74 | 0.01 | 0.0 | -50.0 | 134.78 | 113.59 | 0 | 15.86 | 102.04 | 1933.33 | -25.81 | -981.11 | 0 | 125.81 | 29.6 | 0 | 25.21 | 52.79 | 152.35 |
| 20Q4 (8) | -2.99 | -46.57 | -232.22 | -28.36 | 24.95 | -117.38 | -1012.92 | -825.02 | -949.27 | -1013.92 | -871.57 | -884.34 | -10.57 | -1043.75 | -760.62 | -10.14 | -1103.96 | -745.86 | 0.01 | 0.0 | 0.0 | -991.67 | -808.34 | -926.39 | 7.85 | 1107.69 | 1037.68 | 2.93 | 111.72 | -97.86 | 97.07 | -22.34 | 365.33 | 16.50 | -42.53 | 0 |
| 20Q3 (7) | -2.04 | 23.02 | -1460.0 | -37.79 | 1.13 | -25.17 | 139.71 | 208.53 | 6616.83 | 131.41 | 216.93 | 4896.58 | 1.12 | 227.27 | 3633.33 | 1.01 | 226.25 | 3266.67 | 0.01 | 0.0 | 0.0 | 140.00 | 212.0 | 2140.0 | 0.65 | -96.98 | -79.81 | -25.00 | -181.25 | 97.5 | 125.00 | 80.56 | -87.5 | 28.71 | 0 | 52.23 |
| 20Q2 (6) | -2.65 | -919.23 | -336.61 | -38.22 | -126.15 | 77.53 | -128.73 | -13450.53 | -106.34 | -112.38 | -625.03 | -106.19 | -0.88 | -225.93 | -102.19 | -0.80 | -196.3 | -102.1 | 0.01 | -50.0 | -50.0 | -125.00 | 0 | -106.17 | 21.51 | 2657.69 | 568.01 | 30.77 | 0 | 469.23 | 69.23 | 0 | -36.15 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | -0.26 | 71.11 | -123.42 | -16.90 | -110.36 | 4.41 | -0.95 | -100.8 | 90.48 | -15.50 | -111.99 | -28.1 | -0.27 | -116.88 | 25.0 | -0.27 | -117.2 | 18.18 | 0.02 | 100.0 | -33.33 | 0.00 | -100.0 | 100.0 | 0.78 | 13.04 | -91.09 | 0.00 | -100.0 | -100.0 | 0.00 | 100.0 | 100.0 | 9.99 | 0 | -13.21 |
| 19Q4 (4) | -0.90 | -700.0 | 0.0 | 163.18 | 640.51 | 0.0 | 119.27 | 5634.13 | 0.0 | 129.27 | 4815.21 | 0.0 | 1.60 | 5233.33 | 0.0 | 1.57 | 5133.33 | 0.0 | 0.01 | 0.0 | 0.0 | 120.00 | 1820.0 | 0.0 | 0.69 | -78.57 | 0.0 | 136.59 | 113.66 | 0.0 | -36.59 | -103.66 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 0.15 | -86.61 | 0.0 | -30.19 | 82.25 | 0.0 | 2.08 | -99.9 | 0.0 | 2.63 | -99.86 | 0.0 | 0.03 | -99.93 | 0.0 | 0.03 | -99.92 | 0.0 | 0.01 | -50.0 | 0.0 | 6.25 | -99.69 | 0.0 | 3.22 | 0.0 | 0.0 | -1000.00 | -11900.0 | 0.0 | 1000.00 | 822.25 | 0.0 | 18.86 | -88.47 | 0.0 |
| 19Q2 (2) | 1.12 | 0.9 | 0.0 | -170.06 | -861.88 | 0.0 | 2030.97 | 20450.4 | 0.0 | 1816.03 | 15108.51 | 0.0 | 40.19 | 11263.89 | 0.0 | 38.12 | 11651.52 | 0.0 | 0.02 | -33.33 | 0.0 | 2025.49 | 22382.62 | 0.0 | 3.22 | -63.2 | 0.0 | -8.33 | -105.0 | 0.0 | 108.43 | 262.65 | 0.0 | 163.56 | 1321.03 | 0.0 |
| 19Q1 (1) | 1.11 | 0.0 | 0.0 | -17.68 | 0.0 | 0.0 | -9.98 | 0.0 | 0.0 | -12.10 | 0.0 | 0.0 | -0.36 | 0.0 | 0.0 | -0.33 | 0.0 | 0.0 | 0.03 | 0.0 | 0.0 | -9.09 | 0.0 | 0.0 | 8.75 | 0.0 | 0.0 | 166.67 | 0.0 | 0.0 | -66.67 | 0.0 | 0.0 | 11.51 | 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) | 27.70 | 27.24 | -6.57 | 0 | 11.06 | 186.43 | 100.05 | 252.04 | 97.97 | 289.08 | 6.58 | 40.6 | 4.07 | 29.21 | 0.04 | -66.67 | 117.59 | 243.73 | 70.38 | -1.32 | -6.53 | 0 | 106.53 | 42.63 | 0.00 | 0 | 15.15 | 300.79 |
| 2022 (9) | 21.77 | 21.55 | 7.16 | 30.42 | 3.86 | 8.07 | 28.42 | -3.04 | 25.18 | -7.43 | 4.68 | -22.39 | 3.15 | -35.71 | 0.12 | -29.41 | 34.21 | -2.42 | 71.32 | 52.13 | 25.31 | 33.99 | 74.69 | -8.54 | 0.00 | 0 | 3.78 | 6.78 |
| 2021 (8) | 17.91 | 0 | 5.49 | 0 | 3.57 | 101.79 | 29.31 | 0 | 27.20 | 0 | 6.03 | 0 | 4.90 | 0 | 0.17 | 325.0 | 35.06 | 0 | 46.88 | 497.2 | 18.89 | 49.85 | 81.67 | -6.1 | 0.00 | 0 | 3.54 | -79.91 |
| 2020 (7) | -1.56 | 0 | -26.72 | 0 | 1.77 | -23.45 | -210.13 | 0 | -215.28 | 0 | -9.66 | 0 | -9.30 | 0 | 0.04 | -42.86 | -207.96 | 0 | 7.85 | 1037.68 | 12.61 | 0 | 86.97 | -16.84 | 0.00 | 0 | 17.62 | -13.71 |
| 2019 (6) | 0.53 | -83.49 | -28.69 | 0 | 2.31 | 1.73 | 617.78 | 0 | 556.03 | 0 | 41.34 | 0 | 39.85 | 0 | 0.07 | -46.15 | 620.23 | 0 | 0.69 | -91.8 | -4.68 | 0 | 104.58 | 3612.72 | 0.00 | 0 | 20.42 | 97.49 |
| 2018 (5) | 3.21 | -39.09 | -26.31 | 0 | 2.27 | -0.38 | -27.02 | 0 | -26.06 | 0 | -3.67 | 0 | -3.38 | 0 | 0.13 | 0.0 | -25.00 | 0 | 8.41 | -1.29 | 97.18 | -54.65 | 2.82 | 0 | 0.00 | 0 | 10.34 | 22.37 |
| 2017 (4) | 5.27 | 26.08 | -5.76 | 0 | 2.28 | 36.5 | -2.61 | 0 | -2.61 | 0 | -0.35 | 0 | -0.32 | 0 | 0.13 | -23.53 | -0.38 | 0 | 8.52 | -1.62 | 214.29 | 0 | -114.29 | 0 | 0.00 | 0 | 8.45 | 20.03 |
| 2016 (3) | 4.18 | -5.43 | -4.96 | 0 | 1.67 | -0.28 | 8.47 | 6415.38 | 7.09 | 3838.89 | 1.29 | 4200.0 | 1.19 | 3866.67 | 0.17 | 6.25 | 10.31 | 426.02 | 8.66 | 4.09 | -60.00 | 0 | 160.00 | 0 | 0.00 | 0 | 7.04 | 10.0 |
| 2015 (2) | 4.42 | 18.82 | -3.96 | 0 | 1.68 | 18.44 | 0.13 | -40.91 | 0.18 | 0.0 | 0.03 | -25.0 | 0.03 | -25.0 | 0.16 | -15.79 | 1.96 | 18.79 | 8.32 | 1.84 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 6.40 | 16.58 |
| 2014 (1) | 3.72 | 0 | -3.45 | 0 | 1.42 | 6.13 | 0.22 | 0 | 0.18 | 0 | 0.04 | 0 | 0.04 | 0 | 0.19 | -5.0 | 1.65 | -7.3 | 8.17 | 3.42 | -1500.00 | 0 | 1600.00 | 45.45 | 0.00 | 0 | 5.49 | 9.8 |
