- 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) | 8.40 | -44.59 | -48.69 | -1.89 | -1081.25 | -193.1 | -23.23 | -164.98 | -188.93 | -16.65 | -152.64 | -143.78 | -1.46 | -155.94 | -80.25 | -1.25 | -156.82 | -81.16 | 0.08 | 14.29 | -20.0 | -17.81 | -142.8 | -294.03 | 17.73 | 16.72 | -6.09 | 8.82 | 0 | 135.29 | 91.18 | -8.82 | -27.06 | 14.42 | -30.64 | -2.04 |
| 23Q3 (19) | 15.16 | 10.5 | 14.24 | -0.16 | -200.0 | -130.19 | 35.75 | 49.46 | -14.47 | 31.63 | 46.84 | -16.01 | 2.61 | 16.0 | -29.46 | 2.20 | 18.28 | -32.31 | 0.07 | -22.22 | -22.22 | 41.61 | 46.51 | -9.01 | 15.19 | -33.41 | 16.04 | 0.00 | 0 | -100.0 | 100.00 | 0.0 | 0.0 | 20.79 | 10.64 | 11.71 |
| 23Q2 (18) | 13.72 | 20.25 | -20.6 | 0.16 | 113.11 | -80.25 | 23.92 | 838.04 | -9.19 | 21.54 | 1058.06 | -22.82 | 2.25 | 1400.0 | 10.29 | 1.86 | 1450.0 | 4.49 | 0.09 | 28.57 | 50.0 | 28.40 | 238.1 | -9.44 | 22.81 | 19.67 | 58.95 | 0.00 | 100.0 | -100.0 | 100.00 | -40.0 | 3.33 | 18.79 | -8.16 | -17.95 |
| 23Q1 (17) | 11.41 | -30.3 | 57.38 | -1.22 | -160.1 | 80.1 | 2.55 | 131.72 | -81.24 | 1.86 | 127.23 | -84.53 | 0.15 | 118.52 | -84.54 | 0.12 | 117.39 | -86.05 | 0.07 | -30.0 | 0.0 | 8.40 | 285.84 | -54.5 | 19.06 | 0.95 | 31.45 | -66.67 | -166.67 | -50.0 | 166.67 | 33.33 | 15.38 | 20.46 | 38.99 | 4.02 |
| 22Q4 (16) | 16.37 | 23.36 | 85.39 | 2.03 | 283.02 | 256.15 | -8.04 | -119.23 | -226.83 | -6.83 | -118.14 | -35.25 | -0.81 | -121.89 | -62.0 | -0.69 | -121.23 | -53.33 | 0.10 | 11.11 | 11.11 | -4.52 | -109.88 | -467.48 | 18.88 | 44.23 | 47.27 | -25.00 | -1800.0 | -150.0 | 125.00 | 25.0 | 150.0 | 14.72 | -20.9 | -1.67 |
| 22Q3 (15) | 13.27 | -23.21 | 36.38 | 0.53 | -34.57 | 112.41 | 41.80 | 58.69 | 185.85 | 37.66 | 34.93 | 170.14 | 3.70 | 81.37 | 199.2 | 3.25 | 82.58 | 198.48 | 0.09 | 50.0 | 50.0 | 45.73 | 45.82 | 207.32 | 13.09 | -8.78 | 9.36 | 1.47 | -54.41 | -83.53 | 100.00 | 3.33 | 9.8 | 18.61 | -18.73 | -5.87 |
| 22Q2 (14) | 17.28 | 138.34 | 74.02 | 0.81 | 113.21 | 109.22 | 26.34 | 93.82 | 204.36 | 27.91 | 132.2 | 251.93 | 2.04 | 110.31 | 306.06 | 1.78 | 106.98 | 302.27 | 0.06 | -14.29 | 20.0 | 31.36 | 69.88 | 267.88 | 14.35 | -1.03 | 23.49 | 3.23 | 107.26 | -90.73 | 96.77 | -33.0 | 48.39 | 22.90 | 16.42 | -10.65 |
| 22Q1 (13) | 7.25 | -17.89 | 398.35 | -6.13 | -371.54 | 71.74 | 13.59 | 652.44 | 187.79 | 12.02 | 338.02 | 195.32 | 0.97 | 294.0 | 279.63 | 0.86 | 291.11 | 279.17 | 0.07 | -22.22 | 75.0 | 18.46 | 1400.81 | 324.57 | 14.50 | 13.1 | 8.61 | -44.44 | -188.89 | -130.56 | 144.44 | 188.89 | 417.78 | 19.67 | 31.4 | -25.58 |
| 21Q4 (12) | 8.83 | -9.25 | -25.67 | -1.30 | 69.56 | -141.53 | -2.46 | 94.95 | 79.31 | -5.05 | 90.59 | -1302.38 | -0.50 | 86.6 | -1766.67 | -0.45 | 86.36 | -1600.0 | 0.09 | 50.0 | 50.0 | 1.23 | 102.89 | 114.14 | 12.82 | 7.1 | 6.3 | 50.00 | 460.0 | 275.0 | 50.00 | -45.1 | -58.82 | 14.97 | -24.28 | 16.86 |
| 21Q3 (11) | 9.73 | -2.01 | 10.44 | -4.27 | 51.42 | 31.46 | -48.69 | -92.91 | -126.47 | -53.69 | -192.27 | -197.12 | -3.73 | -276.77 | -292.63 | -3.30 | -275.0 | -317.72 | 0.06 | 20.0 | 50.0 | -42.61 | -128.1 | -142.38 | 11.97 | 3.01 | -2.68 | 8.93 | -74.33 | -70.24 | 91.07 | 39.64 | 30.1 | 19.77 | -22.86 | -4.81 |
| 21Q2 (10) | 9.93 | 508.64 | -3.69 | -8.79 | 59.47 | -125.38 | -25.24 | -63.05 | -197.99 | -18.37 | -45.68 | -78.35 | -0.99 | -83.33 | -94.12 | -0.88 | -83.33 | -114.63 | 0.05 | 25.0 | 25.0 | -18.68 | -127.25 | -324.55 | 11.62 | -12.96 | -58.78 | 34.78 | -76.09 | -30.43 | 65.22 | 243.48 | 30.43 | 25.63 | -3.03 | 0 |
| 21Q1 (9) | -2.43 | -120.45 | -141.26 | -21.69 | -792.97 | -146.48 | -15.48 | -30.19 | -550.0 | -12.61 | -3102.38 | -6104.76 | -0.54 | -1900.0 | -5500.0 | -0.48 | -1700.0 | -2500.0 | 0.04 | -33.33 | -33.33 | -8.22 | 5.52 | -231.52 | 13.35 | 10.7 | -35.76 | 145.45 | 609.09 | 152.89 | -45.45 | -137.43 | -111.36 | 26.43 | 106.32 | 0 |
| 20Q4 (8) | 11.88 | 34.85 | 263.64 | 3.13 | 150.24 | 116.8 | -11.89 | 44.7 | 23.09 | 0.42 | 102.32 | 101.09 | 0.03 | 103.16 | 101.14 | 0.03 | 103.8 | 101.35 | 0.06 | 50.0 | 0.0 | -8.70 | 50.51 | 32.14 | 12.06 | -1.95 | -39.49 | -28.57 | -195.24 | -123.65 | 121.43 | 73.47 | 682.86 | 12.81 | -38.32 | 0 |
| 20Q3 (7) | 8.81 | -14.55 | -38.31 | -6.23 | -59.74 | 79.72 | -21.50 | -153.84 | 41.08 | -18.07 | -75.44 | -139.02 | -0.95 | -86.27 | 56.02 | -0.79 | -92.68 | 57.53 | 0.04 | 0.0 | -33.33 | -17.58 | -299.55 | 48.64 | 12.30 | -56.37 | -26.79 | 30.00 | -40.0 | -64.78 | 70.00 | 40.0 | 320.0 | 20.77 | 0 | -62.52 |
| 20Q2 (6) | 10.31 | 75.04 | 112.14 | -3.90 | 55.68 | 33.79 | -8.47 | -346.22 | -166.35 | -10.30 | -5004.76 | -497.68 | -0.51 | -5200.0 | -1120.0 | -0.41 | -2150.0 | -1125.0 | 0.04 | -33.33 | -50.0 | -4.40 | -170.4 | -199.32 | 28.19 | 35.66 | 82.7 | 50.00 | 118.18 | -75.0 | 50.00 | -87.5 | 150.0 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 5.89 | 181.13 | -54.27 | -8.80 | 52.76 | 78.84 | 3.44 | 122.25 | 110.25 | 0.21 | 100.54 | -99.96 | 0.01 | 100.38 | 100.12 | 0.02 | 100.9 | 100.28 | 0.06 | 0.0 | -25.0 | 6.25 | 148.75 | 119.84 | 20.78 | 4.26 | 7.0 | -275.00 | -327.59 | -321.99 | 400.00 | 2020.0 | 1775.0 | 0.00 | 0 | -100.0 |
| 19Q4 (4) | -7.26 | -150.84 | 0.0 | -18.63 | 39.36 | 0.0 | -15.46 | 57.63 | 0.0 | -38.61 | -410.71 | 0.0 | -2.63 | -21.76 | 0.0 | -2.22 | -19.35 | 0.0 | 0.06 | 0.0 | 0.0 | -12.82 | 62.55 | 0.0 | 19.93 | 18.63 | 0.0 | 120.83 | 41.85 | 0.0 | -20.83 | -225.0 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 14.28 | 193.83 | 0.0 | -30.72 | -421.56 | 0.0 | -36.49 | -1047.48 | 0.0 | -7.56 | -391.89 | 0.0 | -2.16 | -4420.0 | 0.0 | -1.86 | -4750.0 | 0.0 | 0.06 | -25.0 | 0.0 | -34.23 | -2228.57 | 0.0 | 16.80 | 8.88 | 0.0 | 85.19 | -57.41 | 0.0 | 16.67 | 116.67 | 0.0 | 55.42 | 295.01 | 0.0 |
| 19Q2 (2) | 4.86 | -62.27 | 0.0 | -5.89 | 85.83 | 0.0 | -3.18 | 90.52 | 0.0 | 2.59 | -99.48 | 0.0 | 0.05 | 100.58 | 0.0 | 0.04 | 100.56 | 0.0 | 0.08 | 0.0 | 0.0 | -1.47 | 95.33 | 0.0 | 15.43 | -20.55 | 0.0 | 200.00 | 61.45 | 0.0 | -100.00 | -318.75 | 0.0 | 14.03 | -76.3 | 0.0 |
| 19Q1 (1) | 12.88 | 0.0 | 0.0 | -41.58 | 0.0 | 0.0 | -33.56 | 0.0 | 0.0 | 500.30 | 0.0 | 0.0 | -8.62 | 0.0 | 0.0 | -7.17 | 0.0 | 0.0 | 0.08 | 0.0 | 0.0 | -31.50 | 0.0 | 0.0 | 19.42 | 0.0 | 0.0 | 123.88 | 0.0 | 0.0 | -23.88 | 0.0 | 0.0 | 59.19 | 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) | 12.20 | -11.4 | -0.74 | 0 | 5.15 | 26.19 | 10.06 | -39.25 | 9.90 | -37.42 | 3.46 | -40.96 | 2.93 | -42.09 | 0.29 | -9.38 | 15.29 | -25.74 | 17.73 | -6.09 | -6.78 | 0 | 106.78 | 4.71 | 0.00 | 0 | 18.54 | 0.76 |
| 2022 (9) | 13.77 | 85.58 | -0.35 | 0 | 4.08 | -17.93 | 16.56 | 0 | 15.82 | 0 | 5.86 | 0 | 5.06 | 0 | 0.32 | 33.33 | 20.59 | 0 | 18.88 | 47.27 | -1.98 | 0 | 101.98 | 52.16 | 0.05 | 0 | 18.40 | -9.45 |
| 2021 (8) | 7.42 | -18.28 | -7.00 | 0 | 4.98 | 41.03 | -21.36 | 0 | -21.72 | 0 | -5.76 | 0 | -5.08 | 0 | 0.24 | 20.0 | -16.06 | 0 | 12.82 | 6.3 | 32.98 | -28.22 | 67.02 | 23.99 | 0.00 | 0 | 20.32 | 9.48 |
| 2020 (7) | 9.08 | 40.99 | -3.97 | 0 | 3.53 | 78.74 | -8.60 | 0 | -5.90 | 0 | -1.38 | 0 | -1.18 | 0 | 0.20 | -33.33 | -4.94 | 0 | 12.06 | -39.49 | 45.95 | -58.92 | 54.05 | 0 | 0.05 | 19.5 | 18.56 | -57.3 |
| 2019 (6) | 6.44 | -50.42 | -23.98 | 0 | 1.97 | -62.8 | -21.45 | 0 | 131.71 | 0 | -14.83 | 0 | -12.29 | 0 | 0.30 | 3.45 | -19.32 | 0 | 19.93 | -6.03 | 111.84 | 1465.79 | -11.84 | 0 | 0.04 | 0 | 43.47 | 3.11 |
| 2018 (5) | 12.99 | 27.73 | 0.34 | 0 | 5.31 | 168.87 | 4.07 | 136.63 | -7.86 | 0 | 1.20 | -25.47 | 1.01 | -27.34 | 0.29 | -61.33 | 9.47 | 153.21 | 21.21 | 23.46 | 7.14 | 0 | 92.86 | -38.1 | 0.00 | 0 | 42.16 | 210.91 |
| 2017 (4) | 10.17 | -39.28 | -0.84 | 0 | 1.97 | -14.22 | 1.72 | -72.91 | 1.85 | -69.22 | 1.61 | -68.37 | 1.39 | -68.62 | 0.75 | 2.74 | 3.74 | -57.26 | 17.18 | 12.07 | -50.00 | 0 | 150.00 | 541.38 | 0.04 | 0 | 13.56 | -4.71 |
| 2016 (3) | 16.75 | 16.89 | 4.90 | 20.1 | 2.30 | 6.11 | 6.35 | -2.91 | 6.01 | 2.74 | 5.09 | -9.11 | 4.43 | -6.74 | 0.73 | -8.75 | 8.75 | -0.68 | 15.33 | -7.71 | 77.42 | 24.37 | 23.39 | -38.04 | 0.00 | 0 | 14.23 | 16.93 |
| 2015 (2) | 14.33 | 19.22 | 4.08 | 20.0 | 2.17 | 8.38 | 6.54 | 2.51 | 5.85 | 0.86 | 5.60 | -15.54 | 4.75 | -13.64 | 0.80 | -13.98 | 8.81 | 2.92 | 16.61 | -24.53 | 62.25 | 16.38 | 37.75 | -18.84 | 0.00 | 0 | 12.17 | 15.57 |
| 2014 (1) | 12.02 | 0 | 3.40 | 0 | 2.00 | -13.02 | 6.38 | 0 | 5.80 | 0 | 6.63 | 0 | 5.50 | 0 | 0.93 | 3.33 | 8.56 | -2.17 | 22.01 | -12.73 | 53.49 | -21.25 | 46.51 | 47.91 | 0.00 | 0 | 10.53 | 6.15 |
