- 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 | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 20Q3 (20) | -9.42 | -11.22 | -764.22 | -30.38 | 6.78 | -44.94 | -31.63 | -5.22 | -40.14 | -32.07 | 0.25 | -44.52 | -2.69 | -21.17 | -43.09 | -1.98 | -18.56 | -36.55 | 0.06 | 20.0 | -14.29 | -1.13 | -115.13 | -112.61 | 35.70 | 19.36 | 52.04 | 96.10 | -11.34 | 3.46 | 3.90 | 146.43 | -45.19 | 0.00 | 0 | -100.0 |
| 20Q2 (19) | -8.47 | -14016.67 | -455.88 | -32.59 | 11.0 | -77.6 | -30.06 | 36.58 | -126.36 | -32.15 | 30.56 | -117.52 | -2.22 | 34.12 | -86.55 | -1.67 | 36.74 | -85.56 | 0.05 | -16.67 | -16.67 | 7.47 | 165.58 | -61.83 | 29.91 | 11.77 | 19.26 | 108.40 | 40.28 | -21.53 | -8.40 | -136.94 | 77.98 | 0.00 | -100.0 | -100.0 |
| 20Q1 (18) | -0.06 | 96.1 | 99.47 | -36.62 | -69.69 | -13.27 | -47.40 | -67.43 | -55.61 | -46.30 | -44.24 | -53.77 | -3.37 | -25.28 | -51.12 | -2.64 | -24.53 | -50.86 | 0.06 | -14.29 | 0.0 | -11.39 | -348.15 | -341.31 | 26.76 | 9.49 | 8.08 | 77.27 | 1.3 | -27.19 | 22.73 | -4.55 | 471.1 | 33.38 | 21.82 | 14.2 |
| 19Q4 (17) | -1.54 | -41.28 | 66.81 | -21.58 | -2.96 | 7.54 | -28.31 | -25.43 | 1.8 | -32.10 | -44.66 | -34.7 | -2.69 | -43.09 | -37.95 | -2.12 | -46.21 | -38.56 | 0.07 | 0.0 | 0.0 | 4.59 | -48.77 | 56.12 | 24.44 | 4.09 | 5.16 | 76.28 | -17.88 | -5.74 | 23.81 | 234.75 | 25.33 | 27.40 | 12.9 | 13.83 |
| 19Q3 (16) | -1.09 | -145.8 | -105.91 | -20.96 | -14.22 | -1044.14 | -22.57 | -69.95 | -5348.84 | -22.19 | -50.14 | -13152.94 | -1.88 | -57.98 | -9500.0 | -1.45 | -61.11 | -1550.0 | 0.07 | 16.67 | -22.22 | 8.96 | -54.22 | -62.18 | 23.48 | -6.38 | -3.02 | 92.89 | -32.75 | -82.17 | 7.11 | 118.65 | 101.69 | 24.27 | -10.84 | 20.21 |
| 19Q2 (15) | 2.38 | 121.17 | -86.55 | -18.35 | 43.24 | -1935.0 | -13.28 | 56.4 | -423.9 | -14.78 | 50.91 | -803.81 | -1.19 | 46.64 | -666.67 | -0.90 | 48.57 | -491.3 | 0.06 | 0.0 | -25.0 | 19.57 | 314.62 | -31.84 | 25.08 | 1.29 | -3.76 | 138.13 | 30.16 | 465.55 | -38.13 | -522.62 | -150.45 | 27.22 | -6.88 | 20.18 |
| 19Q1 (14) | -11.24 | -142.24 | -166.39 | -32.33 | -38.52 | -1408.91 | -30.46 | -5.65 | -1564.42 | -30.11 | -26.35 | -510.22 | -2.23 | -14.36 | -414.08 | -1.75 | -14.38 | -391.67 | 0.06 | -14.29 | -25.0 | 4.72 | 60.54 | -82.13 | 24.76 | 6.54 | 7.65 | 106.12 | 31.15 | -10.59 | -6.12 | -132.24 | 67.24 | 29.23 | 21.44 | 29.39 |
| 18Q4 (13) | -4.64 | -125.16 | -121.17 | -23.34 | -1151.35 | -431.53 | -28.83 | -6804.65 | -817.16 | -23.83 | -14117.65 | -489.38 | -1.95 | -9850.0 | -382.61 | -1.53 | -1630.0 | -325.0 | 0.07 | -22.22 | -22.22 | 2.94 | -87.59 | -89.1 | 23.24 | -4.01 | -12.07 | 80.92 | -84.46 | -53.93 | 19.00 | 104.51 | 125.26 | 24.07 | 19.22 | 18.86 |
| 18Q3 (12) | 18.44 | 4.18 | -22.68 | 2.22 | 122.0 | -81.85 | 0.43 | -89.51 | -96.93 | 0.17 | -91.9 | -98.54 | 0.02 | -90.48 | -98.73 | 0.10 | -56.52 | -91.94 | 0.09 | 12.5 | -10.0 | 23.69 | -17.49 | -28.23 | 24.21 | -7.1 | -17.12 | 520.83 | 2032.47 | 495.5 | -420.83 | -656.83 | -3456.32 | 20.19 | -10.86 | 7.22 |
| 18Q2 (11) | 17.70 | 4.55 | -15.55 | 1.00 | -59.51 | -89.3 | 4.10 | 97.12 | -70.78 | 2.10 | -71.39 | -82.44 | 0.21 | -70.42 | -86.54 | 0.23 | -61.67 | -81.89 | 0.08 | 0.0 | -20.0 | 28.71 | 8.67 | -16.39 | 26.06 | 13.3 | -8.66 | 24.42 | -79.42 | -63.34 | 75.58 | 504.33 | 126.49 | 22.65 | 0.27 | 26.75 |
| 18Q1 (10) | 16.93 | -22.76 | -14.19 | 2.47 | -64.91 | -66.07 | 2.08 | -48.26 | 154.03 | 7.34 | 19.93 | 247.98 | 0.71 | 2.9 | 226.79 | 0.60 | -11.76 | 262.16 | 0.08 | -11.11 | 0.0 | 26.42 | -2.08 | 32.7 | 23.00 | -12.98 | -29.23 | 118.69 | -32.42 | 162.62 | -18.69 | 75.15 | -106.46 | 22.59 | 11.56 | 21.58 |
| 17Q4 (9) | 21.92 | -8.09 | 19.39 | 7.04 | -42.44 | 5.07 | 4.02 | -71.27 | 175.71 | 6.12 | -47.56 | 192.59 | 0.69 | -56.05 | 184.15 | 0.68 | -45.16 | 238.78 | 0.09 | -10.0 | 0.0 | 26.98 | -18.27 | 43.97 | 26.43 | -9.52 | -25.61 | 175.63 | 100.81 | 238.85 | -75.21 | -699.83 | -133.21 | 20.25 | 7.54 | 23.85 |
| 17Q3 (8) | 23.85 | 13.79 | 74.21 | 12.23 | 30.8 | 324.65 | 13.99 | -0.29 | 1648.75 | 11.67 | -2.42 | 1558.75 | 1.57 | 0.64 | 1670.0 | 1.24 | -2.36 | 6100.0 | 0.10 | 0.0 | 11.11 | 33.01 | -3.87 | 40.29 | 29.21 | 2.38 | -22.91 | 87.46 | 31.26 | -75.6 | 12.54 | -62.42 | 104.85 | 18.83 | 5.37 | 14.05 |
| 17Q2 (7) | 20.96 | 6.23 | 369.96 | 9.35 | 28.43 | 241.88 | 14.03 | 464.42 | 160.32 | 11.96 | 341.13 | 141.77 | 1.56 | 378.57 | 143.82 | 1.27 | 443.24 | 157.47 | 0.10 | 25.0 | 25.0 | 34.34 | 72.48 | 0 | 28.53 | -12.22 | -48.48 | 66.63 | 135.15 | 135.06 | 33.37 | -88.48 | -53.43 | 17.87 | -3.82 | 3.9 |
| 17Q1 (6) | 19.73 | 7.46 | 0 | 7.28 | 8.66 | 0 | -3.85 | 27.5 | 0 | -4.96 | 24.96 | 0 | -0.56 | 31.71 | 0 | -0.37 | 24.49 | 0 | 0.08 | -11.11 | 0 | 19.91 | 6.24 | 0 | 32.50 | -8.53 | 0 | -189.55 | -49.85 | 0 | 289.55 | 27.84 | 0 | 18.58 | 13.64 | 0 |
| 16Q4 (5) | 18.36 | 34.11 | 0 | 6.70 | 132.64 | 0 | -5.31 | -763.75 | 0 | -6.61 | -726.25 | 0 | -0.82 | -720.0 | 0 | -0.49 | -2550.0 | 0 | 0.09 | 0.0 | 0 | 18.74 | -20.36 | 180.95 | 35.53 | -6.23 | 0 | -126.49 | -135.28 | 0 | 226.49 | 187.62 | 0 | 16.35 | -0.97 | 0 |
| 16Q3 (4) | 13.69 | 206.95 | 0.0 | 2.88 | 143.7 | 0.0 | 0.80 | 103.44 | 0.0 | -0.80 | 97.21 | 0.0 | -0.10 | 97.19 | 0.0 | 0.02 | 100.9 | 0.0 | 0.09 | 12.5 | 0.0 | 23.53 | 0 | 0.0 | 37.89 | -31.58 | 0.0 | 358.49 | 1164.68 | 0.0 | -258.49 | -460.75 | 0.0 | 16.51 | -4.01 | 0.0 |
| 16Q2 (3) | 4.46 | 0 | 0.0 | -6.59 | 0 | 0.0 | -23.26 | 0 | 0.0 | -28.63 | 0 | 0.0 | -3.56 | 0 | 0.0 | -2.21 | 0 | 0.0 | 0.08 | 0 | 0.0 | 0.00 | 0 | 0.0 | 55.38 | 0 | 0.0 | 28.35 | 0 | 0.0 | 71.65 | 0 | 0.0 | 17.20 | 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 | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2019 (10) | -2.72 | 0 | -23.13 | 0 | 30.43 | 29.88 | -23.52 | 0 | -24.67 | 0 | -8.03 | 0 | -6.27 | 0 | 0.26 | -16.13 | 9.54 | -55.38 | 24.44 | 5.16 | 98.35 | 25.58 | 1.68 | -92.26 | 12.77 | 4.29 | 26.97 | 21.27 |
| 2018 (9) | 13.07 | -39.77 | -3.34 | 0 | 23.43 | 22.34 | -4.27 | 0 | -2.49 | 0 | -0.97 | 0 | -0.56 | 0 | 0.31 | -16.22 | 21.38 | -26.22 | 23.24 | -12.07 | 78.32 | -34.72 | 21.68 | 0 | 12.25 | 0 | 22.24 | 17.98 |
| 2017 (8) | 21.70 | 189.72 | 9.13 | 0 | 19.15 | -8.96 | 7.61 | 0 | 6.67 | 0 | 3.24 | 0 | 2.72 | 0 | 0.37 | 8.82 | 28.98 | 207.64 | 26.43 | -25.61 | 119.97 | 258.66 | -19.97 | 0 | 0.00 | 0 | 18.85 | 7.59 |
| 2016 (7) | 7.49 | 1493.62 | -4.92 | 0 | 21.04 | -5.53 | -14.70 | 0 | -15.71 | 0 | -7.53 | 0 | -4.83 | 0 | 0.34 | 17.24 | 9.42 | -33.24 | 35.53 | -28.08 | 33.45 | -65.5 | 66.55 | 2090.75 | 0.00 | 0 | 17.52 | -8.7 |
| 2015 (6) | 0.47 | -97.53 | -13.76 | 0 | 22.27 | 42.96 | -14.19 | 0 | -13.01 | 0 | -5.68 | 0 | -2.69 | 0 | 0.29 | -12.12 | 14.11 | -49.26 | 49.40 | -2.12 | 96.96 | -10.87 | 3.04 | 0 | 0.00 | 0 | 19.19 | 21.07 |
| 2014 (5) | 19.05 | 43.13 | 8.62 | 335.35 | 15.58 | -19.15 | 7.92 | 2454.84 | 6.51 | 1814.71 | 3.32 | 1975.0 | 3.02 | 439.29 | 0.33 | 6.45 | 27.81 | 26.18 | 50.47 | -15.39 | 108.79 | -82.98 | -8.79 | 0 | 0.00 | 0 | 15.85 | -17.45 |
| 2013 (4) | 13.31 | 0 | 1.98 | 0 | 19.27 | 0 | 0.31 | 0 | 0.34 | 0 | 0.16 | 0 | 0.56 | 0 | 0.31 | 0 | 22.04 | 0 | 59.65 | 0 | 639.13 | 0 | -539.13 | 0 | 0.00 | 0 | 19.20 | 0 |
