- 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) | 1.63 | 63.0 | -51.2 | -0.28 | 75.86 | -131.46 | -1.68 | -115.19 | -1966.67 | -3.79 | -134.27 | -201.61 | -0.46 | -137.7 | -186.79 | -0.28 | -128.57 | -165.12 | 0.09 | 12.5 | 0.0 | 2.07 | -86.35 | -52.63 | 32.72 | -5.1 | -27.14 | 16.67 | 254.17 | -97.22 | 83.33 | -24.8 | 116.67 | 5.77 | -5.25 | -2.53 |
| 23Q3 (19) | 1.00 | 113.81 | 106.26 | -1.16 | 87.76 | 93.69 | 11.06 | 214.73 | -55.04 | 11.06 | 214.73 | -55.04 | 1.22 | 211.93 | -68.23 | 0.98 | 236.11 | -62.6 | 0.08 | 0.0 | -20.0 | 15.16 | 394.94 | -45.9 | 34.48 | 1.26 | -33.84 | -10.81 | -110.99 | 85.5 | 110.81 | 6548.65 | -36.73 | 6.09 | 0.5 | 3.75 |
| 23Q2 (18) | -7.24 | -396.72 | -789.52 | -9.48 | -3892.0 | -877.32 | -9.64 | -1821.43 | -510.13 | -9.64 | -1821.43 | -510.13 | -1.09 | -1462.5 | -419.05 | -0.72 | -653.85 | -500.0 | 0.08 | -11.11 | -20.0 | -5.14 | -204.05 | -464.54 | 34.05 | -17.97 | -29.44 | 98.33 | 96.67 | 47.5 | 1.67 | -96.67 | -96.0 | 6.06 | -0.82 | -1.14 |
| 23Q1 (17) | 2.44 | -26.95 | -49.9 | 0.25 | -71.91 | -91.67 | 0.56 | 522.22 | -50.88 | 0.56 | -84.99 | -50.88 | 0.08 | -84.91 | -42.86 | 0.13 | -69.77 | 0.0 | 0.09 | 0.0 | 0.0 | 4.94 | 13.04 | 24.12 | 41.51 | -7.57 | 47.62 | 50.00 | -91.67 | -80.43 | 50.00 | 110.0 | 132.14 | 6.11 | 3.21 | 7.01 |
| 22Q4 (16) | 3.34 | 120.9 | -43.1 | 0.89 | 104.84 | -77.18 | 0.09 | -99.63 | -97.84 | 3.73 | -84.84 | -8.13 | 0.53 | -86.2 | -3.64 | 0.43 | -83.59 | -4.44 | 0.09 | -10.0 | -18.18 | 4.37 | -84.4 | -34.58 | 44.91 | -13.83 | 56.97 | 600.00 | 904.55 | 552.94 | -500.00 | -385.48 | -9350.0 | 5.92 | 0.85 | 1.02 |
| 22Q3 (15) | -15.98 | -1621.9 | -283.68 | -18.38 | -1794.85 | -377.22 | 24.60 | 1656.96 | -0.57 | 24.60 | 1656.96 | 3.97 | 3.84 | 1928.57 | 44.91 | 2.62 | 2283.33 | 21.86 | 0.10 | 0.0 | 11.11 | 28.02 | 1887.23 | 4.16 | 52.12 | 8.0 | 74.84 | -74.58 | -211.86 | -378.33 | 175.14 | 320.34 | 139.25 | 5.87 | -4.24 | -13.29 |
| 22Q2 (14) | 1.05 | -78.44 | -92.24 | -0.97 | -132.33 | -108.4 | -1.58 | -238.6 | -112.81 | -1.58 | -238.6 | -115.74 | -0.21 | -250.0 | -117.36 | -0.12 | -192.31 | -112.0 | 0.10 | 11.11 | 0.0 | 1.41 | -64.57 | -90.41 | 48.26 | 71.62 | 152.8 | 66.67 | -73.91 | -29.03 | 41.67 | 126.79 | 587.5 | 6.13 | 7.36 | -2.7 |
| 22Q1 (13) | 4.87 | -17.04 | -62.04 | 3.00 | -23.08 | -71.8 | 1.14 | -72.6 | -93.56 | 1.14 | -71.92 | -92.63 | 0.14 | -74.55 | -93.91 | 0.13 | -71.11 | -92.61 | 0.09 | -18.18 | -18.18 | 3.98 | -40.42 | -80.41 | 28.12 | -1.71 | -15.12 | 255.56 | 178.1 | 327.09 | -155.56 | -2977.78 | -487.3 | 5.71 | -2.56 | -21.46 |
| 21Q4 (12) | 5.87 | -32.53 | -33.52 | 3.90 | -41.18 | -40.46 | 4.16 | -83.19 | -69.19 | 4.06 | -82.84 | -69.24 | 0.55 | -79.25 | -72.5 | 0.45 | -79.07 | -70.2 | 0.11 | 22.22 | 0.0 | 6.68 | -75.17 | -58.87 | 28.61 | -4.03 | -12.64 | 91.89 | 242.95 | 88.27 | 5.41 | -92.62 | -89.44 | 5.86 | -13.44 | -16.41 |
| 21Q3 (11) | 8.70 | -35.7 | 111.17 | 6.63 | -42.6 | 262.3 | 24.74 | 100.65 | -11.93 | 23.66 | 135.66 | -15.77 | 2.65 | 119.01 | -38.8 | 2.15 | 115.0 | -30.87 | 0.09 | -10.0 | -18.18 | 26.90 | 82.87 | -14.66 | 29.81 | 56.16 | -19.52 | 26.79 | -71.48 | 315.31 | 73.21 | 1107.89 | -21.75 | 6.77 | 7.46 | -1.17 |
| 21Q2 (10) | 13.53 | 5.46 | 664.41 | 11.55 | 8.55 | 1823.88 | 12.33 | -30.38 | 29.11 | 10.04 | -35.06 | 5.13 | 1.21 | -47.39 | -20.92 | 1.00 | -43.18 | -6.54 | 0.10 | -9.09 | -9.09 | 14.71 | -27.61 | 12.98 | 19.09 | -42.38 | -56.58 | 93.94 | 56.99 | 1297.73 | 6.06 | -84.91 | -94.28 | 6.30 | -13.34 | 0 |
| 21Q1 (9) | 12.83 | 45.3 | 166.0 | 10.64 | 62.44 | 148.08 | 17.71 | 31.19 | 147.23 | 15.46 | 17.12 | 141.23 | 2.30 | 15.0 | 137.34 | 1.76 | 16.56 | 142.62 | 0.11 | 0.0 | 0.0 | 20.32 | 25.12 | 159.26 | 33.13 | 1.16 | -36.73 | 59.84 | 22.59 | 1.67 | 40.16 | -21.54 | -2.39 | 7.27 | 3.71 | -6.31 |
| 20Q4 (8) | 8.83 | 114.32 | 3144.83 | 6.55 | 257.92 | 381.12 | 13.50 | -51.94 | 606.81 | 13.20 | -53.01 | 563.32 | 2.00 | -53.81 | 471.43 | 1.51 | -51.45 | 439.29 | 0.11 | 0.0 | -8.33 | 16.24 | -48.48 | 247.75 | 32.75 | -11.58 | -25.57 | 48.81 | 656.55 | 139.05 | 51.19 | -45.28 | -77.25 | 7.01 | 2.34 | 19.02 |
| 20Q3 (7) | 4.12 | 132.77 | 147.8 | 1.83 | 373.13 | 117.13 | 28.09 | 194.14 | 377.3 | 28.09 | 194.14 | 377.3 | 4.33 | 183.01 | 335.33 | 3.11 | 190.65 | 342.97 | 0.11 | 0.0 | -15.38 | 31.52 | 142.09 | 520.83 | 37.04 | -15.76 | -5.34 | 6.45 | 182.26 | -93.82 | 93.55 | -11.65 | 1690.32 | 6.85 | 0 | 10.31 |
| 20Q2 (6) | 1.77 | 109.1 | 130.41 | -0.67 | 96.97 | 91.59 | 9.55 | 125.47 | 212.49 | 9.55 | 125.47 | 215.76 | 1.53 | 124.84 | 206.99 | 1.07 | 125.91 | 207.0 | 0.11 | 0.0 | -15.38 | 13.02 | 137.97 | 331.67 | 43.97 | -16.02 | 8.3 | -7.84 | -113.33 | -108.3 | 105.88 | 157.32 | 1805.88 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | -19.44 | -6603.45 | -2334.48 | -22.13 | -849.79 | -1615.5 | -37.50 | -2063.35 | -2318.93 | -37.50 | -1984.42 | -2704.17 | -6.16 | -1860.0 | -2778.26 | -4.13 | -1575.0 | -2165.0 | 0.11 | -8.33 | -8.33 | -34.29 | -834.26 | -826.48 | 52.36 | 19.0 | 45.2 | 58.85 | 147.08 | 173.56 | 41.15 | -81.71 | -77.14 | 7.76 | 31.75 | 10.38 |
| 19Q4 (4) | -0.29 | 96.64 | 0.0 | -2.33 | 78.18 | 0.0 | 1.91 | 118.85 | 0.0 | 1.99 | 119.64 | 0.0 | 0.35 | 119.02 | 0.0 | 0.28 | 121.88 | 0.0 | 0.12 | -7.69 | 0.0 | 4.67 | 162.35 | 0.0 | 44.00 | 12.45 | 0.0 | -125.00 | -219.72 | 0.0 | 225.00 | 3925.0 | 0.0 | 5.89 | -5.15 | 0.0 |
| 19Q3 (3) | -8.62 | -48.11 | 0.0 | -10.68 | -34.0 | 0.0 | -10.13 | -19.32 | 0.0 | -10.13 | -22.79 | 0.0 | -1.84 | -28.67 | 0.0 | -1.28 | -28.0 | 0.0 | 0.13 | 0.0 | 0.0 | -7.49 | -33.27 | 0.0 | 39.13 | -3.62 | 0.0 | 104.41 | 10.55 | 0.0 | -5.88 | -205.88 | 0.0 | 6.21 | -5.62 | 0.0 |
| 19Q2 (2) | -5.82 | -768.97 | 0.0 | -7.97 | -517.83 | 0.0 | -8.49 | -602.37 | 0.0 | -8.25 | -672.92 | 0.0 | -1.43 | -721.74 | 0.0 | -1.00 | -600.0 | 0.0 | 0.13 | 8.33 | 0.0 | -5.62 | -219.07 | 0.0 | 40.60 | 12.59 | 0.0 | 94.44 | 218.06 | 0.0 | 5.56 | -96.91 | 0.0 | 6.58 | -6.4 | 0.0 |
| 19Q1 (1) | 0.87 | 0.0 | 0.0 | -1.29 | 0.0 | 0.0 | 1.69 | 0.0 | 0.0 | 1.44 | 0.0 | 0.0 | 0.23 | 0.0 | 0.0 | 0.20 | 0.0 | 0.0 | 0.12 | 0.0 | 0.0 | 4.72 | 0.0 | 0.0 | 36.06 | 0.0 | 0.0 | -80.00 | 0.0 | 0.0 | 180.00 | 0.0 | 0.0 | 7.03 | 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) | -0.42 | 0 | -2.55 | 0 | 3.21 | 16.25 | 0.22 | -96.35 | -0.36 | 0 | -0.18 | 0 | 0.17 | -93.99 | 0.37 | -5.13 | 4.42 | -52.78 | 32.72 | -27.14 | -1116.67 | 0 | 1216.67 | 642.81 | 0.00 | 0 | 6.00 | 1.52 |
| 2022 (9) | -1.67 | 0 | -3.84 | 0 | 2.76 | 27.08 | 6.02 | -58.45 | 6.80 | -48.21 | 3.59 | -53.32 | 2.83 | -52.6 | 0.39 | -13.33 | 9.36 | -44.52 | 44.91 | 56.97 | -63.79 | 0 | 163.79 | 263.46 | 0.00 | 0 | 5.91 | -9.22 |
| 2021 (8) | 10.01 | 0 | 7.97 | 0 | 2.17 | -24.36 | 14.49 | 304.75 | 13.13 | 275.14 | 7.69 | 298.45 | 5.97 | 295.36 | 0.45 | 12.5 | 16.87 | 147.72 | 28.61 | -12.64 | 54.94 | 0 | 45.06 | -76.75 | 0.00 | 0 | 6.51 | -11.43 |
| 2020 (7) | -0.94 | 0 | -3.36 | 0 | 2.87 | 16.13 | 3.58 | 0 | 3.50 | 0 | 1.93 | 0 | 1.51 | 0 | 0.40 | -18.37 | 6.81 | 0 | 32.75 | -25.57 | -93.83 | 0 | 193.83 | 0 | 0.00 | 0 | 7.35 | 14.66 |
| 2019 (6) | -3.60 | 0 | -5.70 | 0 | 2.48 | 5.43 | -3.92 | 0 | -3.90 | 0 | -2.72 | 0 | -1.78 | 0 | 0.49 | -12.5 | -1.14 | 0 | 44.00 | 4.56 | 145.00 | 0 | -45.00 | 0 | 0.00 | 0 | 6.41 | 22.56 |
| 2018 (5) | 1.41 | -80.84 | -0.39 | 0 | 2.35 | -18.62 | 2.42 | -75.7 | 2.74 | -69.04 | 2.21 | -70.34 | 1.65 | -67.07 | 0.56 | 1.82 | 5.05 | -61.89 | 42.08 | -12.22 | -16.00 | 0 | 116.00 | 159.29 | 0.00 | 0 | 5.23 | -7.1 |
| 2017 (4) | 7.36 | 0 | 5.51 | 0 | 2.89 | -23.98 | 9.96 | 0 | 8.85 | 0 | 7.45 | 0 | 5.01 | 0 | 0.55 | 5.77 | 13.25 | 0 | 47.94 | -22.76 | 55.26 | -34.31 | 44.74 | 181.84 | 0.00 | 0 | 5.63 | -9.63 |
| 2016 (3) | -2.05 | 0 | -4.25 | 0 | 3.80 | 12.46 | -5.04 | 0 | -6.36 | 0 | -5.27 | 0 | -3.08 | 0 | 0.52 | -14.75 | -0.76 | 0 | 62.07 | 5.8 | 84.13 | 9.56 | 15.87 | -31.62 | 0.00 | 0 | 6.23 | 21.68 |
| 2015 (2) | -7.37 | 0 | -9.41 | 0 | 3.38 | -0.02 | -12.25 | 0 | -10.64 | 0 | -9.83 | 0 | -6.26 | 0 | 0.61 | -10.29 | -8.44 | 0 | 58.67 | 24.43 | 76.79 | 0 | 23.21 | -81.45 | 0.00 | 0 | 5.12 | 23.97 |
| 2014 (1) | 0.85 | 0 | -0.90 | 0 | 3.38 | -13.24 | 3.60 | 0 | 3.28 | 0 | 3.18 | 0 | 2.44 | 0 | 0.68 | 7.94 | 7.31 | 47.68 | 47.15 | 29.11 | -25.17 | 0 | 125.17 | -81.19 | 0.00 | 0 | 4.13 | -13.78 |
