- 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) | 3.22 | 97.55 | -55.89 | -1.86 | 34.28 | -196.37 | -6.19 | -321.09 | -673.15 | -6.34 | -207.77 | -21033.33 | -4.11 | -226.19 | -41000.0 | -2.09 | -326.53 | -1329.41 | 0.38 | 2.7 | 15.15 | -4.10 | -761.29 | -232.69 | 76.00 | 9.21 | 45.99 | 29.41 | -84.65 | -83.19 | 70.59 | 177.01 | 194.12 | 5.87 | -2.0 | -18.47 |
| 23Q3 (19) | 1.63 | -13.76 | -77.3 | -2.83 | 13.98 | -203.28 | -1.47 | 75.17 | -188.55 | -2.06 | 68.88 | -398.55 | -1.26 | 63.58 | -470.59 | -0.49 | 74.61 | -225.64 | 0.37 | 12.12 | 23.33 | 0.62 | 117.27 | -83.55 | 69.59 | 6.15 | 28.13 | 191.67 | 241.67 | 10.96 | -91.67 | -308.8 | -44.05 | 5.99 | -11.26 | -20.13 |
| 23Q2 (18) | 1.89 | -26.74 | -54.01 | -3.29 | -15.85 | -630.65 | -5.92 | -89.74 | -196.0 | -6.62 | -87.01 | -117.76 | -3.46 | -113.58 | -78.35 | -1.93 | -132.53 | -112.09 | 0.33 | 10.0 | -8.33 | -3.59 | -469.84 | -987.88 | 65.56 | 22.68 | -8.72 | 56.10 | -37.67 | 268.29 | 43.90 | 339.02 | -67.07 | 6.75 | -7.41 | -2.88 |
| 23Q1 (17) | 2.58 | -64.66 | -56.12 | -2.84 | -247.15 | -350.79 | -3.12 | -388.89 | -428.42 | -3.54 | -11700.0 | -17600.0 | -1.62 | -16100.0 | -16100.0 | -0.83 | -588.24 | -618.75 | 0.30 | -9.09 | -6.25 | -0.63 | -120.39 | -122.5 | 53.44 | 2.65 | -33.15 | 90.00 | -48.57 | 244.0 | 10.00 | 113.33 | -93.85 | 7.29 | 1.25 | 8.0 |
| 22Q4 (16) | 7.30 | 1.67 | 8.31 | 1.93 | -29.56 | -20.9 | 1.08 | -34.94 | -67.17 | -0.03 | -104.35 | -101.41 | -0.01 | -102.94 | -100.65 | 0.17 | -56.41 | -82.83 | 0.33 | 10.0 | -17.5 | 3.09 | -18.04 | -34.26 | 52.06 | -4.14 | -33.62 | 175.00 | 1.32 | 140.62 | -75.00 | -17.86 | -409.38 | 7.20 | -4.0 | 19.4 |
| 22Q3 (15) | 7.18 | 74.7 | -16.99 | 2.74 | 341.94 | -42.68 | 1.66 | 183.0 | -56.32 | 0.69 | 122.7 | -70.39 | 0.34 | 117.53 | -79.14 | 0.39 | 142.86 | -64.22 | 0.30 | -16.67 | -21.05 | 3.77 | 1242.42 | -30.57 | 54.31 | -24.38 | -30.97 | 172.73 | 618.18 | 35.18 | -63.64 | -147.73 | -154.55 | 7.50 | 7.91 | 40.45 |
| 22Q2 (14) | 4.11 | -30.1 | -41.54 | 0.62 | 198.41 | -84.91 | -2.00 | -310.53 | -149.02 | -3.04 | -15100.0 | -199.35 | -1.94 | -19300.0 | -169.04 | -0.91 | -668.75 | -155.15 | 0.36 | 12.5 | -26.53 | -0.33 | -111.79 | -106.23 | 71.82 | -10.16 | -24.59 | -33.33 | 46.67 | -133.33 | 133.33 | -17.95 | 0 | 6.95 | 2.96 | 53.08 |
| 22Q1 (13) | 5.88 | -12.76 | -17.07 | -0.63 | -125.82 | -117.4 | 0.95 | -71.12 | -68.95 | -0.02 | -100.94 | -100.86 | -0.01 | -100.65 | -100.54 | 0.16 | -83.84 | -86.44 | 0.32 | -20.0 | -28.89 | 2.80 | -40.43 | -36.51 | 79.94 | 1.93 | -1.39 | -62.50 | -185.94 | -152.36 | 162.50 | 570.31 | 939.58 | 6.75 | 11.94 | 25.23 |
| 21Q4 (12) | 6.74 | -22.08 | -27.91 | 2.44 | -48.95 | -55.23 | 3.29 | -13.42 | -57.22 | 2.13 | -8.58 | -66.24 | 1.53 | -6.13 | -69.88 | 0.99 | -9.17 | -68.06 | 0.40 | 5.26 | -14.89 | 4.70 | -13.44 | -47.89 | 78.43 | -0.32 | 6.46 | 72.73 | -43.08 | 2.36 | 24.24 | 196.97 | -16.25 | 6.03 | 12.92 | 13.35 |
| 21Q3 (11) | 8.65 | 23.04 | -22.63 | 4.78 | 16.3 | -25.31 | 3.80 | -6.86 | -55.35 | 2.33 | -23.86 | -71.2 | 1.63 | -41.99 | -72.14 | 1.09 | -33.94 | -69.21 | 0.38 | -22.45 | -9.52 | 5.43 | 2.45 | -45.75 | 78.68 | -17.39 | 12.69 | 127.78 | 27.78 | 71.17 | -25.00 | 0 | -198.61 | 5.34 | 17.62 | -7.13 |
| 21Q2 (10) | 7.03 | -0.85 | -43.08 | 4.11 | 13.54 | -44.53 | 4.08 | 33.33 | -84.76 | 3.06 | 31.9 | -84.73 | 2.81 | 52.72 | -78.13 | 1.65 | 39.83 | -73.81 | 0.49 | 8.89 | 58.06 | 5.30 | 20.18 | -81.62 | 95.24 | 17.48 | 26.05 | 100.00 | -16.22 | 263.27 | 0.00 | 100.0 | -100.0 | 4.54 | -15.77 | 0 |
| 21Q1 (9) | 7.09 | -24.17 | 1985.29 | 3.62 | -33.58 | 162.41 | 3.06 | -60.21 | 136.78 | 2.32 | -63.23 | 127.42 | 1.84 | -63.78 | 143.29 | 1.18 | -61.94 | 176.62 | 0.45 | -4.26 | 114.29 | 4.41 | -51.11 | 193.43 | 81.07 | 10.04 | -45.65 | 119.35 | 67.98 | 72.86 | -19.35 | -166.86 | -162.53 | 5.39 | 1.32 | 0 |
| 20Q4 (8) | 9.35 | -16.37 | 17.17 | 5.45 | -14.84 | 66.67 | 7.69 | -9.64 | 172.7 | 6.31 | -22.0 | 126.98 | 5.08 | -13.16 | 145.41 | 3.10 | -12.43 | 158.33 | 0.47 | 11.9 | 42.42 | 9.02 | -9.89 | 68.6 | 73.67 | 5.51 | -40.47 | 71.05 | -4.82 | -39.88 | 28.95 | 14.18 | 259.21 | 5.32 | -7.48 | 0 |
| 20Q3 (7) | 11.18 | -9.47 | 83.58 | 6.40 | -13.63 | 416.13 | 8.51 | -68.22 | 378.1 | 8.09 | -59.63 | 363.52 | 5.85 | -54.47 | 389.6 | 3.54 | -43.81 | 710.34 | 0.42 | 35.48 | 44.83 | 10.01 | -65.28 | 7250.0 | 69.82 | -7.6 | -43.64 | 74.65 | 171.17 | 282.47 | 25.35 | -65.02 | -82.01 | 5.75 | 0 | -18.79 |
| 20Q2 (6) | 12.35 | 3532.35 | 159.45 | 7.41 | 227.76 | 432.29 | 26.78 | 421.88 | 605.28 | 20.04 | 336.88 | 463.7 | 12.85 | 402.35 | 489.39 | 6.30 | 509.09 | 667.57 | 0.31 | 47.62 | 19.23 | 28.83 | 710.81 | 1499.51 | 75.56 | -49.34 | -41.27 | 27.53 | -60.13 | -33.93 | 72.47 | 134.14 | 24.24 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 0.34 | -95.74 | -93.8 | -5.80 | -277.37 | -291.89 | -8.32 | -395.04 | -3566.67 | -8.46 | -404.32 | -8560.0 | -4.25 | -305.31 | -8600.0 | -1.54 | -228.33 | -566.67 | 0.21 | -36.36 | -4.55 | -4.72 | -188.22 | -216.26 | 149.16 | 20.52 | 8.91 | 69.05 | -41.58 | 107.67 | 30.95 | 270.24 | -96.9 | 0.00 | 0 | -100.0 |
| 19Q4 (4) | 7.98 | 31.03 | 0.0 | 3.27 | 163.71 | 0.0 | 2.82 | 192.16 | 0.0 | 2.78 | 190.55 | 0.0 | 2.07 | 202.48 | 0.0 | 1.20 | 306.9 | 0.0 | 0.33 | 13.79 | 0.0 | 5.35 | 3921.43 | 0.0 | 123.76 | -0.1 | 0.0 | 118.18 | 388.89 | 0.0 | -18.18 | -112.9 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 6.09 | 27.94 | 0.0 | 1.24 | 155.61 | 0.0 | -3.06 | 42.26 | 0.0 | -3.07 | 44.28 | 0.0 | -2.02 | 38.79 | 0.0 | -0.58 | 47.75 | 0.0 | 0.29 | 11.54 | 0.0 | -0.14 | 93.2 | 0.0 | 123.89 | -3.7 | 0.0 | -40.91 | -198.18 | 0.0 | 140.91 | 141.56 | 0.0 | 7.08 | -8.05 | 0.0 |
| 19Q2 (2) | 4.76 | -13.14 | 0.0 | -2.23 | -50.68 | 0.0 | -5.30 | -2308.33 | 0.0 | -5.51 | -5610.0 | 0.0 | -3.30 | -6700.0 | 0.0 | -1.11 | -436.36 | 0.0 | 0.26 | 18.18 | 0.0 | -2.06 | -150.74 | 0.0 | 128.65 | -6.07 | 0.0 | 41.67 | 104.63 | 0.0 | 58.33 | -94.17 | 0.0 | 7.70 | -11.39 | 0.0 |
| 19Q1 (1) | 5.48 | 0.0 | 0.0 | -1.48 | 0.0 | 0.0 | 0.24 | 0.0 | 0.0 | 0.10 | 0.0 | 0.0 | 0.05 | 0.0 | 0.0 | 0.33 | 0.0 | 0.0 | 0.22 | 0.0 | 0.0 | 4.06 | 0.0 | 0.0 | 136.96 | 0.0 | 0.0 | -900.00 | 0.0 | 0.0 | 1000.00 | 0.0 | 0.0 | 8.69 | 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) | 2.34 | -60.8 | -2.67 | 0 | 1.25 | 3.26 | -4.19 | 0 | -4.65 | 0 | -10.46 | 0 | -5.37 | 0 | 1.38 | 2.22 | -2.00 | 0 | 76.00 | 45.99 | 63.71 | -82.62 | 36.29 | 0 | 0.00 | 0 | 6.41 | -9.46 |
| 2022 (9) | 5.97 | -18.78 | 1.06 | -71.73 | 1.21 | 34.02 | 0.27 | -92.46 | -0.75 | 0 | -1.67 | 0 | -0.26 | 0 | 1.35 | -24.58 | 2.17 | -56.16 | 52.06 | -33.62 | 366.67 | 248.1 | -277.78 | 0 | 0.00 | 0 | 7.08 | 34.09 |
| 2021 (8) | 7.35 | -18.24 | 3.75 | -11.56 | 0.90 | -26.94 | 3.58 | -62.12 | 2.49 | -66.12 | 7.86 | -58.81 | 5.15 | -50.62 | 1.79 | 35.61 | 4.95 | -56.46 | 78.43 | 6.46 | 105.33 | 134.72 | -4.67 | 0 | 0.00 | 0 | 5.28 | -15.25 |
| 2020 (7) | 8.99 | 45.71 | 4.24 | 1015.79 | 1.24 | -27.15 | 9.45 | 0 | 7.35 | 0 | 19.08 | 0 | 10.43 | 0 | 1.32 | 18.92 | 11.37 | 517.93 | 73.67 | -40.47 | 44.88 | 0 | 55.12 | -58.35 | 0.00 | 0 | 6.23 | -15.01 |
| 2019 (6) | 6.17 | 10.57 | 0.38 | 2.7 | 1.70 | 113.02 | -1.24 | 0 | -1.33 | 0 | -3.32 | 0 | -0.25 | 0 | 1.11 | -13.95 | 1.84 | 268.0 | 123.76 | -1.39 | -32.35 | 0 | 132.35 | 3.19 | 0.00 | 0 | 7.33 | 9.24 |
| 2018 (5) | 5.58 | -38.21 | 0.37 | -89.97 | 0.80 | -11.66 | -1.37 | 0 | -1.71 | 0 | -4.88 | 0 | -1.11 | 0 | 1.29 | 0.0 | 0.50 | -91.29 | 125.51 | 8.99 | -26.09 | 0 | 128.26 | 1503.26 | 0.00 | 0 | 6.71 | -3.73 |
| 2017 (4) | 9.03 | -9.15 | 3.69 | 30.85 | 0.90 | -22.61 | 4.02 | 408.86 | 3.78 | 845.0 | 10.07 | 1143.21 | 5.74 | 436.45 | 1.29 | 24.04 | 5.74 | 111.03 | 115.16 | 20.18 | 92.00 | -74.52 | 8.00 | 0 | 0.00 | 0 | 6.97 | -23.24 |
| 2016 (3) | 9.94 | 19.33 | 2.82 | 0 | 1.17 | -18.66 | 0.79 | 0 | 0.40 | 0 | 0.81 | 0 | 1.07 | 0 | 1.04 | -1.89 | 2.72 | 90.21 | 95.82 | 2.91 | 361.11 | 303.59 | -261.11 | 0 | 0.00 | 0 | 9.08 | -24.14 |
| 2015 (2) | 8.33 | 10.19 | -0.68 | 0 | 1.43 | -6.76 | -0.77 | 0 | -1.01 | 0 | -2.10 | 0 | -0.42 | 0 | 1.06 | -3.64 | 1.43 | -36.44 | 93.11 | -8.72 | 89.47 | 0 | 10.53 | 0 | 0.00 | 0 | 11.97 | 2.48 |
| 2014 (1) | 7.56 | 0 | -1.05 | 0 | 1.54 | -42.41 | -0.02 | 0 | -0.44 | 0 | -0.95 | 0 | 0.02 | 0 | 1.10 | 17.02 | 2.25 | 0 | 102.00 | 14.5 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 11.68 | -6.71 |
