- 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) | -1.64 | -126.45 | -129.29 | -11.98 | -67.55 | -81.52 | -25.91 | -3179.75 | -185.67 | -23.49 | -400.85 | -177.0 | -6.00 | -430.97 | -215.79 | -4.71 | -411.96 | -207.84 | 0.20 | 0.0 | 11.11 | -25.53 | -4541.82 | -201.06 | 30.00 | 20.1 | 19.9 | 46.58 | -95.22 | -35.08 | 54.11 | 106.18 | 91.46 | 7.32 | -9.63 | -12.02 |
| 23Q3 (19) | 6.20 | -23.08 | -18.21 | -7.15 | -57.84 | -56.46 | -0.79 | -176.7 | -134.35 | -4.69 | -236.34 | -180.58 | -1.13 | -239.51 | -180.71 | -0.92 | -237.31 | -185.19 | 0.20 | 5.26 | 5.26 | -0.55 | -142.64 | -121.48 | 24.98 | 24.4 | 11.62 | 975.00 | 343.75 | 607.0 | -875.00 | -275.0 | -407.43 | 8.10 | -8.99 | -4.48 |
| 23Q2 (18) | 8.06 | -16.82 | -48.83 | -4.53 | -2159.09 | -283.4 | 1.03 | -74.44 | 294.34 | 3.44 | -9.47 | 222.86 | 0.81 | -30.17 | 237.29 | 0.67 | -27.96 | 252.27 | 0.19 | -20.83 | 18.75 | 1.29 | -69.29 | 745.0 | 20.08 | -18.07 | -45.29 | -400.00 | -5700.0 | 0.0 | 500.00 | 438.46 | 0.0 | 8.90 | 28.24 | -3.16 |
| 23Q1 (17) | 9.69 | 73.04 | -44.82 | 0.22 | 103.33 | -96.82 | 4.03 | 144.43 | -46.76 | 3.80 | 144.81 | -30.78 | 1.16 | 161.05 | -25.16 | 0.93 | 160.78 | -19.83 | 0.24 | 33.33 | 14.29 | 4.20 | 149.53 | -46.22 | 24.51 | -2.04 | -22.56 | 7.14 | -90.04 | -92.26 | 92.86 | 228.57 | 865.71 | 6.94 | -16.59 | -8.32 |
| 22Q4 (16) | 5.60 | -26.12 | -67.17 | -6.60 | -44.42 | -168.04 | -9.07 | -494.35 | -183.06 | -8.48 | -245.7 | -184.29 | -1.90 | -235.71 | -152.34 | -1.53 | -241.67 | -155.43 | 0.18 | -5.26 | -33.33 | -8.48 | -431.25 | -176.26 | 25.02 | 11.8 | -29.62 | 71.74 | 137.3 | -19.72 | 28.26 | -90.07 | 165.65 | 8.32 | -1.89 | -11.77 |
| 22Q3 (15) | 7.58 | -51.87 | -61.35 | -4.57 | -285.02 | -156.42 | 2.30 | 533.96 | -77.18 | 5.82 | 307.86 | -32.33 | 1.40 | 337.29 | -43.78 | 1.08 | 345.45 | -44.33 | 0.19 | 18.75 | -17.39 | 2.56 | 1380.0 | -75.12 | 22.38 | -39.02 | -19.21 | -192.31 | 51.92 | -341.26 | 284.62 | -43.08 | 1410.65 | 8.48 | -7.73 | 1.56 |
| 22Q2 (14) | 15.75 | -10.31 | -30.98 | 2.47 | -64.25 | -72.34 | -0.53 | -107.0 | -101.98 | -2.80 | -151.0 | -112.07 | -0.59 | -138.06 | -109.13 | -0.44 | -137.93 | -108.75 | 0.16 | -23.81 | -27.27 | -0.20 | -102.56 | -100.74 | 36.70 | 15.96 | 31.49 | -400.00 | -533.33 | -1300.0 | 500.00 | 5100.0 | 650.0 | 9.19 | 21.4 | -25.16 |
| 22Q1 (13) | 17.56 | 2.93 | 10.86 | 6.91 | -28.76 | 95.2 | 7.57 | -30.68 | -38.7 | 5.49 | -45.43 | -52.47 | 1.55 | -57.3 | -50.79 | 1.16 | -57.97 | -52.26 | 0.21 | -22.22 | 0.0 | 7.81 | -29.77 | -38.75 | 31.65 | -10.97 | 10.39 | 92.31 | 3.3 | 225.27 | 9.62 | -9.62 | -86.32 | 7.57 | -19.72 | -26.22 |
| 21Q4 (12) | 17.06 | -13.0 | 17.25 | 9.70 | 19.75 | 640.46 | 10.92 | 8.33 | 19.47 | 10.06 | 16.98 | 67.39 | 3.63 | 45.78 | 114.79 | 2.76 | 42.27 | 110.69 | 0.27 | 17.39 | 22.73 | 11.12 | 8.07 | 18.55 | 35.55 | 28.34 | 15.99 | 89.36 | 12.11 | 514.36 | 10.64 | -43.54 | -87.55 | 9.43 | 12.93 | -3.68 |
| 21Q3 (11) | 19.61 | -14.07 | 84.13 | 8.10 | -9.29 | 1787.5 | 10.08 | -62.37 | -27.43 | 8.60 | -62.92 | -31.64 | 2.49 | -61.46 | -40.43 | 1.94 | -61.43 | -40.49 | 0.23 | 4.55 | -11.54 | 10.29 | -62.11 | -28.59 | 27.70 | -0.75 | 2.9 | 79.71 | 139.13 | 2624.15 | 18.84 | -71.74 | -81.92 | 8.35 | -32.0 | 3.21 |
| 21Q2 (10) | 22.82 | 44.07 | 100.0 | 8.93 | 152.26 | 304.82 | 26.79 | 116.92 | 95.12 | 23.19 | 100.78 | 97.19 | 6.46 | 105.08 | 190.99 | 5.03 | 107.0 | 199.4 | 0.22 | 4.76 | 57.14 | 27.16 | 113.02 | 86.03 | 27.91 | -2.65 | -6.5 | 33.33 | 17.46 | 201.85 | 66.67 | -5.13 | -49.77 | 12.28 | 19.69 | 0 |
| 21Q1 (9) | 15.84 | 8.87 | 39.56 | 3.54 | 170.23 | 206.63 | 12.35 | 35.12 | 314.41 | 11.55 | 92.18 | 297.77 | 3.15 | 86.39 | 352.0 | 2.43 | 85.5 | 364.13 | 0.21 | -4.55 | 50.0 | 12.75 | 35.93 | 478.34 | 28.67 | -6.46 | -17.28 | 28.38 | 95.1 | -51.35 | 70.27 | -17.77 | 68.65 | 10.26 | 4.8 | 0 |
| 20Q4 (8) | 14.55 | 36.62 | 32.03 | 1.31 | 372.92 | 131.34 | 9.14 | -34.2 | 32.66 | 6.01 | -52.23 | -19.65 | 1.69 | -59.57 | -17.16 | 1.31 | -59.82 | -14.38 | 0.22 | -15.38 | 10.0 | 9.38 | -34.91 | 6.11 | 30.65 | 13.86 | -13.2 | 14.55 | 560.61 | 124.06 | 85.45 | -18.0 | -46.75 | 9.79 | 21.01 | 60.23 |
| 20Q3 (7) | 10.65 | -6.66 | -26.65 | -0.48 | 88.99 | -245.45 | 13.89 | 1.17 | 116.36 | 12.58 | 6.97 | 193.24 | 4.18 | 88.29 | 283.49 | 3.26 | 94.05 | 283.53 | 0.26 | 85.71 | 30.0 | 14.41 | -1.3 | 77.24 | 26.92 | -9.82 | -17.95 | -3.16 | 90.35 | -158.42 | 104.21 | -21.49 | 10.17 | 8.09 | 0 | -16.94 |
| 20Q2 (6) | 11.41 | 0.53 | 41.74 | -4.36 | -31.33 | 51.18 | 13.73 | 338.37 | 322.17 | 11.76 | 301.37 | 259.57 | 2.22 | 277.6 | 240.51 | 1.68 | 282.61 | 236.59 | 0.14 | 0.0 | -17.65 | 14.60 | 533.23 | 427.35 | 29.85 | -13.88 | 10.31 | -32.73 | -156.1 | -122.31 | 132.73 | 218.55 | 384.42 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 11.35 | 2.99 | 4.9 | -3.32 | 20.57 | -86.52 | -5.76 | -183.6 | -301.4 | -5.84 | -178.07 | -413.98 | -1.25 | -161.27 | -365.96 | -0.92 | -160.13 | -342.11 | 0.14 | -30.0 | -30.0 | -3.37 | -138.12 | -170.65 | 34.66 | -1.84 | 24.54 | 58.33 | 196.47 | 199.17 | 41.67 | -74.03 | -73.77 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 11.02 | -24.1 | 0.0 | -4.18 | -1366.67 | 0.0 | 6.89 | 7.32 | 0.0 | 7.48 | 74.36 | 0.0 | 2.04 | 87.16 | 0.0 | 1.53 | 80.0 | 0.0 | 0.20 | 0.0 | 0.0 | 8.84 | 8.73 | 0.0 | 35.31 | 7.62 | 0.0 | -60.47 | -1218.6 | 0.0 | 160.47 | 69.63 | 0.0 | 6.11 | -37.27 | 0.0 |
| 19Q3 (3) | 14.52 | 80.37 | 0.0 | 0.33 | 103.7 | 0.0 | 6.42 | 203.88 | 0.0 | 4.29 | 158.21 | 0.0 | 1.09 | 168.99 | 0.0 | 0.85 | 169.11 | 0.0 | 0.20 | 17.65 | 0.0 | 8.13 | 282.29 | 0.0 | 32.81 | 21.25 | 0.0 | 5.41 | -96.31 | 0.0 | 94.59 | 302.7 | 0.0 | 9.74 | -29.93 | 0.0 |
| 19Q2 (2) | 8.05 | -25.6 | 0.0 | -8.93 | -401.69 | 0.0 | -6.18 | -316.08 | 0.0 | -7.37 | -496.24 | 0.0 | -1.58 | -436.17 | 0.0 | -1.23 | -423.68 | 0.0 | 0.17 | -15.0 | 0.0 | -4.46 | -193.5 | 0.0 | 27.06 | -2.77 | 0.0 | 146.67 | 349.33 | 0.0 | -46.67 | -129.38 | 0.0 | 13.90 | 40.83 | 0.0 |
| 19Q1 (1) | 10.82 | 0.0 | 0.0 | -1.78 | 0.0 | 0.0 | 2.86 | 0.0 | 0.0 | 1.86 | 0.0 | 0.0 | 0.47 | 0.0 | 0.0 | 0.38 | 0.0 | 0.0 | 0.20 | 0.0 | 0.0 | 4.77 | 0.0 | 0.0 | 27.83 | 0.0 | 0.0 | -58.82 | 0.0 | 0.0 | 158.82 | 0.0 | 0.0 | 9.87 | 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) | 5.77 | -51.96 | -5.54 | 0 | 0.26 | -18.24 | -4.99 | 0 | -4.84 | 0 | -5.16 | 0 | -4.04 | 0 | 0.84 | 15.07 | -4.74 | 0 | 30.00 | 19.9 | 111.11 | 788.89 | -11.11 | 0 | 0.00 | 0 | 7.75 | -6.85 |
| 2022 (9) | 12.01 | -35.91 | 0.07 | -99.1 | 0.31 | 8.59 | 0.72 | -95.09 | 0.57 | -95.63 | 0.55 | -96.52 | 0.42 | -96.46 | 0.73 | -19.78 | 1.03 | -93.11 | 25.02 | -29.62 | 12.50 | -76.56 | 93.75 | 100.82 | 0.00 | 0 | 8.32 | -16.8 |
| 2021 (8) | 18.74 | 55.65 | 7.81 | 0 | 0.29 | -64.3 | 14.66 | 69.87 | 13.03 | 88.29 | 15.79 | 148.66 | 11.85 | 147.91 | 0.91 | 28.17 | 14.95 | 58.2 | 35.55 | 15.99 | 53.32 | 0 | 46.68 | -59.35 | 0.00 | 0 | 10.00 | 0.2 |
| 2020 (7) | 12.04 | 7.4 | -1.28 | 0 | 0.81 | -53.97 | 8.63 | 196.56 | 6.92 | 244.28 | 6.35 | 217.5 | 4.78 | 212.42 | 0.71 | -4.05 | 9.45 | 99.37 | 30.65 | -13.2 | -14.84 | 0 | 114.84 | -47.73 | 0.00 | 0 | 9.98 | 2.99 |
| 2019 (6) | 11.21 | 17.75 | -3.45 | 0 | 1.75 | -40.07 | 2.91 | 0 | 2.01 | 0 | 2.00 | 0 | 1.53 | 0 | 0.74 | -17.78 | 4.74 | 0 | 35.31 | 7.95 | -119.70 | 0 | 219.70 | 223.85 | 5.49 | -2.7 | 9.69 | 19.78 |
| 2018 (5) | 9.52 | -27.99 | -2.12 | 0 | 2.93 | 379.99 | -6.55 | 0 | -6.27 | 0 | -7.75 | 0 | -5.64 | 0 | 0.90 | -10.0 | -3.62 | 0 | 32.71 | -19.83 | 32.16 | -68.19 | 67.84 | 0 | 5.64 | 22.24 | 8.09 | 7.58 |
| 2017 (4) | 13.22 | 14.16 | 2.68 | 0 | 0.61 | 14.29 | 2.63 | 0 | 3.05 | 0 | 4.26 | 0 | 3.06 | 0 | 1.00 | 5.26 | 3.25 | 0 | 40.80 | 5.86 | 101.10 | -57.43 | -2.20 | 0 | 4.62 | 0 | 7.52 | -7.96 |
| 2016 (3) | 11.58 | 78.15 | -1.89 | 0 | 0.53 | -5.57 | -0.81 | 0 | -1.09 | 0 | -1.42 | 0 | -1.04 | 0 | 0.95 | 7.95 | -0.27 | 0 | 38.54 | 14.91 | 237.50 | 61.11 | -137.50 | 0 | 0.00 | 0 | 8.17 | -11.0 |
| 2015 (2) | 6.50 | -25.12 | -6.04 | 0 | 0.57 | 80.46 | -4.10 | 0 | -3.69 | 0 | -4.38 | 0 | -3.23 | 0 | 0.88 | -23.48 | -3.53 | 0 | 33.54 | -11.27 | 147.41 | 139.55 | -47.41 | 0 | 0.00 | 0 | 9.18 | 70.63 |
| 2014 (1) | 8.68 | 0 | -0.59 | 0 | 0.31 | -15.09 | -0.95 | 0 | -1.59 | 0 | -2.63 | 0 | -1.84 | 0 | 1.15 | -4.96 | -0.63 | 0 | 37.80 | -22.17 | 61.54 | 76.78 | 38.46 | -41.0 | 0.00 | 0 | 5.38 | -18.73 |
