- 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) | 12.24 | -23.5 | -19.37 | -4.71 | 3.29 | 29.07 | -7.03 | -4786.67 | -73.15 | -7.73 | 9.59 | -109.49 | -1.49 | 9.15 | -112.86 | -0.65 | 8.45 | -195.45 | 0.10 | 0.0 | 0.0 | 7.32 | -49.9 | -44.21 | 84.67 | -0.83 | -0.39 | 67.14 | 102.06 | -58.91 | 32.86 | -99.02 | 151.81 | 20.67 | 21.45 | 41.67 |
| 23Q3 (19) | 16.00 | -4.53 | -8.83 | -4.87 | 22.45 | -83.77 | 0.15 | -88.55 | -96.31 | -8.55 | -12314.29 | -442.0 | -1.64 | -16500.0 | -434.69 | -0.71 | -517.65 | -273.17 | 0.10 | 0.0 | 0.0 | 14.61 | -3.12 | -13.14 | 85.38 | 0.52 | -5.28 | -3266.67 | -592.09 | -4948.48 | 3366.67 | 488.58 | 1944.05 | 17.02 | -15.53 | -11.35 |
| 23Q2 (18) | 16.76 | -7.2 | -17.23 | -6.28 | -72.53 | -594.49 | 1.31 | 168.95 | -53.21 | 0.07 | 102.27 | -96.88 | 0.01 | 101.96 | -97.67 | 0.17 | 241.67 | -54.05 | 0.10 | 11.11 | 0.0 | 15.08 | 22.3 | -4.01 | 84.94 | 4.02 | -11.24 | -472.00 | -343.38 | -1134.77 | 572.00 | 729.2 | 951.74 | 20.15 | -4.91 | 9.57 |
| 23Q1 (17) | 18.06 | 18.97 | 23.44 | -3.64 | 45.18 | 48.15 | -1.90 | 53.2 | 23.69 | -3.09 | 16.26 | 46.26 | -0.51 | 27.14 | 41.38 | -0.12 | 45.45 | 63.64 | 0.09 | -10.0 | 12.5 | 12.33 | -6.02 | -8.46 | 81.66 | -3.93 | -6.28 | 193.94 | 18.68 | -30.74 | -90.91 | -43.36 | 49.49 | 21.19 | 45.24 | -8.27 |
| 22Q4 (16) | 15.18 | -13.5 | -2.38 | -6.64 | -150.57 | 23.15 | -4.06 | -199.75 | -5700.0 | -3.69 | -247.6 | -10.81 | -0.70 | -242.86 | -20.69 | -0.22 | -153.66 | 0.0 | 0.10 | 0.0 | 11.11 | 13.12 | -22.0 | -29.99 | 85.00 | -5.7 | 2.08 | 163.41 | 352.55 | -98.96 | -63.41 | -138.5 | 99.59 | 14.59 | -24.01 | -21.14 |
| 22Q3 (15) | 17.55 | -13.33 | 27.92 | -2.65 | -308.66 | 24.5 | 4.07 | 45.36 | 1030.56 | 2.50 | 11.61 | 516.67 | 0.49 | 13.95 | 545.45 | 0.41 | 10.81 | 485.71 | 0.10 | 0.0 | 0.0 | 16.82 | 7.07 | 36.75 | 90.14 | -5.81 | 1.53 | -64.71 | -241.86 | 93.44 | 164.71 | 202.85 | -84.83 | 19.20 | 4.4 | -4.81 |
| 22Q2 (14) | 20.25 | 38.41 | 14.99 | 1.27 | 118.09 | 101.59 | 2.80 | 212.45 | 1172.73 | 2.24 | 138.96 | 439.39 | 0.43 | 149.43 | 458.33 | 0.37 | 212.12 | 362.5 | 0.10 | 25.0 | 0.0 | 15.71 | 16.63 | 11.58 | 95.70 | 9.84 | 11.98 | 45.61 | -83.71 | -84.8 | 54.39 | 130.21 | 127.19 | 18.39 | -20.39 | -10.94 |
| 22Q1 (13) | 14.63 | -5.92 | -12.55 | -7.02 | 18.75 | -176.38 | -2.49 | -3457.14 | -215.19 | -5.75 | -72.67 | -146.78 | -0.87 | -50.0 | -117.5 | -0.33 | -50.0 | -371.43 | 0.08 | -11.11 | -11.11 | 13.47 | -28.12 | -7.61 | 87.13 | 4.64 | -0.15 | 280.00 | -98.22 | -12.89 | -180.00 | 98.84 | 18.71 | 23.10 | 24.86 | 0.61 |
| 21Q4 (12) | 15.55 | 13.34 | 15.27 | -8.64 | -146.15 | 12.99 | -0.07 | -119.44 | 99.6 | -3.33 | -455.0 | 82.51 | -0.58 | -427.27 | 81.35 | -0.22 | -414.29 | 85.23 | 0.09 | -10.0 | 0.0 | 18.74 | 52.36 | 372.04 | 83.27 | -6.21 | -7.52 | 15700.00 | 1692.75 | 27328.82 | -15500.00 | -1527.63 | -36635.71 | 18.50 | -8.28 | -36.21 |
| 21Q3 (11) | 13.72 | -22.09 | -5.18 | -3.51 | -657.14 | 12.03 | 0.36 | 63.64 | 106.42 | -0.60 | 9.09 | 91.32 | -0.11 | 8.33 | 90.52 | 0.07 | -12.5 | 115.22 | 0.10 | 0.0 | 11.11 | 12.30 | -12.64 | 33.26 | 88.78 | 3.88 | -1.06 | -985.71 | -428.57 | -1482.74 | 1085.71 | 642.86 | 3681.28 | 20.17 | -2.32 | 23.67 |
| 21Q2 (10) | 17.61 | 5.26 | -11.28 | 0.63 | 124.8 | 127.63 | 0.22 | 127.85 | 103.83 | -0.66 | 71.67 | 89.51 | -0.12 | 70.0 | 86.05 | 0.08 | 214.29 | 125.81 | 0.10 | 11.11 | 42.86 | 14.08 | -3.43 | 16.75 | 85.46 | -2.06 | -0.67 | 300.00 | -6.67 | 658.82 | -200.00 | 9.68 | -430.77 | 20.65 | -10.06 | 0 |
| 21Q1 (9) | 16.73 | 24.02 | 194.54 | -2.54 | 74.42 | 80.6 | -0.79 | 95.43 | 94.96 | -2.33 | 87.76 | 85.75 | -0.40 | 87.14 | 82.83 | -0.07 | 95.3 | 93.58 | 0.09 | 0.0 | 12.5 | 14.58 | 267.25 | 747.67 | 87.26 | -3.09 | 1.94 | 321.43 | 461.55 | 285.4 | -221.43 | -621.94 | -1433.97 | 22.96 | -20.83 | 1.95 |
| 20Q4 (8) | 13.49 | -6.77 | 3867.65 | -9.93 | -148.87 | 54.3 | -17.30 | -208.38 | 83.52 | -19.04 | -175.54 | 82.67 | -3.11 | -168.1 | 81.55 | -1.49 | -223.91 | 83.7 | 0.09 | 0.0 | 12.5 | 3.97 | -56.99 | 105.37 | 90.04 | 0.35 | 2.75 | 57.24 | -19.71 | 176.63 | 42.42 | 47.75 | -46.51 | 29.00 | 77.81 | 43.0 |
| 20Q3 (7) | 14.47 | -27.1 | 28.39 | -3.99 | -75.0 | 50.62 | -5.61 | 2.26 | 21.65 | -6.91 | -9.86 | 6.24 | -1.16 | -34.88 | -10.48 | -0.46 | -48.39 | -2.22 | 0.09 | 28.57 | 12.5 | 9.23 | -23.47 | -44.9 | 89.73 | 4.29 | 17.91 | 71.29 | 80.31 | -37.05 | 28.71 | -52.51 | 316.94 | 16.31 | 0 | -16.49 |
| 20Q2 (6) | 19.85 | 249.47 | 141.48 | -2.28 | 82.58 | 79.72 | -5.74 | 63.42 | 28.87 | -6.29 | 61.53 | 21.86 | -0.86 | 63.09 | 26.5 | -0.31 | 71.56 | 39.22 | 0.07 | -12.5 | -12.5 | 12.06 | 601.16 | -19.87 | 86.04 | 0.51 | 13.31 | 39.53 | -52.6 | -71.61 | 60.47 | 264.27 | 254.09 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 5.68 | 1570.59 | -25.85 | -13.09 | 39.76 | -37.07 | -15.69 | 85.06 | -53.52 | -16.35 | 85.12 | -55.12 | -2.33 | 86.18 | -45.62 | -1.09 | 88.07 | -45.33 | 0.08 | 0.0 | -11.11 | 1.72 | 102.33 | -85.79 | 85.60 | -2.32 | 15.44 | 83.40 | 303.07 | -10.61 | 16.60 | -79.07 | 147.8 | 22.52 | 11.05 | 15.31 |
| 19Q4 (4) | 0.34 | -96.98 | 0.0 | -21.73 | -168.94 | 0.0 | -105.00 | -1366.48 | 0.0 | -109.87 | -1390.77 | 0.0 | -16.86 | -1505.71 | 0.0 | -9.14 | -1931.11 | 0.0 | 0.08 | 0.0 | 0.0 | -73.89 | -541.13 | 0.0 | 87.63 | 15.15 | 0.0 | 20.69 | -81.73 | 0.0 | 79.31 | 699.22 | 0.0 | 20.28 | 3.84 | 0.0 |
| 19Q3 (3) | 11.27 | 37.1 | 0.0 | -8.08 | 28.11 | 0.0 | -7.16 | 11.28 | 0.0 | -7.37 | 8.45 | 0.0 | -1.05 | 10.26 | 0.0 | -0.45 | 11.76 | 0.0 | 0.08 | 0.0 | 0.0 | 16.75 | 11.3 | 0.0 | 76.10 | 0.22 | 0.0 | 113.24 | -18.68 | 0.0 | -13.24 | 66.27 | 0.0 | 19.53 | -3.6 | 0.0 |
| 19Q2 (2) | 8.22 | 7.31 | 0.0 | -11.24 | -17.7 | 0.0 | -8.07 | 21.04 | 0.0 | -8.05 | 23.62 | 0.0 | -1.17 | 26.88 | 0.0 | -0.51 | 32.0 | 0.0 | 0.08 | -11.11 | 0.0 | 15.05 | 24.38 | 0.0 | 75.93 | 2.4 | 0.0 | 139.24 | 49.24 | 0.0 | -39.24 | -685.8 | 0.0 | 20.26 | 3.74 | 0.0 |
| 19Q1 (1) | 7.66 | 0.0 | 0.0 | -9.55 | 0.0 | 0.0 | -10.22 | 0.0 | 0.0 | -10.54 | 0.0 | 0.0 | -1.60 | 0.0 | 0.0 | -0.75 | 0.0 | 0.0 | 0.09 | 0.0 | 0.0 | 12.10 | 0.0 | 0.0 | 74.15 | 0.0 | 0.0 | 93.30 | 0.0 | 0.0 | 6.70 | 0.0 | 0.0 | 19.53 | 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) | 15.68 | -8.04 | -4.89 | 0 | 11.80 | -1.31 | -1.91 | 0 | -4.96 | 0 | -3.63 | 0 | -1.31 | 0 | 0.40 | 0.0 | 12.28 | -17.42 | 84.67 | -0.39 | 255.48 | 0 | -155.48 | 0 | 3.44 | 3.13 | 19.70 | 6.03 |
| 2022 (9) | 17.05 | 7.44 | -3.55 | 0 | 11.95 | -4.11 | 0.26 | 0 | -0.88 | 0 | -0.64 | 0 | 0.26 | 0 | 0.40 | 2.56 | 14.87 | 0.07 | 85.00 | 2.08 | -1375.00 | 0 | 1475.00 | 0 | 3.34 | 11.98 | 18.58 | -9.59 |
| 2021 (8) | 15.87 | 18.97 | -3.46 | 0 | 12.46 | -12.59 | -0.05 | 0 | -1.69 | 0 | -1.21 | 0 | -0.14 | 0 | 0.39 | 21.88 | 14.86 | 122.12 | 83.27 | -7.52 | 6475.00 | 9706.54 | -6375.00 | 0 | 2.98 | 4.88 | 20.55 | -11.04 |
| 2020 (7) | 13.34 | 92.77 | -7.33 | 0 | 14.26 | -32.98 | -11.09 | 0 | -12.19 | 0 | -7.47 | 0 | -3.34 | 0 | 0.32 | -8.57 | 6.69 | 0 | 90.04 | 2.75 | 66.03 | 67.1 | 33.97 | -43.83 | 2.84 | 0.83 | 23.10 | 16.08 |
| 2019 (6) | 6.92 | 18.29 | -12.55 | 0 | 21.28 | 33.46 | -31.75 | 0 | -33.06 | 0 | -21.10 | 0 | -10.88 | 0 | 0.35 | -12.5 | -6.72 | 0 | 87.63 | 10.37 | 39.51 | -59.68 | 60.49 | 2932.93 | 2.82 | -23.1 | 19.90 | 4.74 |
| 2018 (5) | 5.85 | 83.39 | -11.02 | 0 | 15.94 | -11.51 | -11.25 | 0 | -13.19 | 0 | -8.89 | 0 | -4.71 | 0 | 0.40 | 2.56 | 7.65 | 497.66 | 79.40 | 29.76 | 98.01 | 38.08 | 1.99 | -93.14 | 3.67 | -8.56 | 19.00 | -2.36 |
| 2017 (4) | 3.19 | -31.1 | -14.05 | 0 | 18.02 | -10.87 | -19.81 | 0 | -23.46 | 0 | -14.41 | 0 | -8.67 | 0 | 0.39 | 8.33 | 1.28 | -47.11 | 61.19 | 12.19 | 70.98 | 38.84 | 29.07 | -40.47 | 4.01 | 0 | 19.46 | 5.99 |
| 2016 (3) | 4.63 | 0 | -11.09 | 0 | 20.21 | -3.76 | -21.68 | 0 | -25.01 | 0 | -13.98 | 0 | -8.55 | 0 | 0.36 | 9.09 | 2.42 | -71.29 | 54.54 | 2.73 | 51.12 | -55.46 | 48.83 | 0 | 0.00 | 0 | 18.36 | -2.44 |
| 2015 (2) | -0.68 | 0 | -20.76 | 0 | 21.00 | -10.04 | -18.09 | 0 | -20.33 | 0 | -10.57 | 0 | -6.13 | 0 | 0.33 | 0.0 | 8.43 | 816.3 | 53.09 | -10.71 | 114.77 | 27.14 | -14.77 | 0 | 0.00 | 0 | 18.82 | -4.66 |
| 2014 (1) | -8.92 | 0 | -25.23 | 0 | 23.34 | 30.91 | -27.95 | 0 | -30.24 | 0 | -15.39 | 0 | -9.23 | 0 | 0.33 | -5.71 | 0.92 | 240.74 | 59.46 | 10.81 | 90.27 | 1.34 | 9.76 | -10.67 | 0.00 | 0 | 19.74 | 13.12 |
