- 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) | 12.49 | -12.47 | 3.31 | 0.00 | -100.0 | -100.0 | -21.62 | -665.97 | -3827.59 | -19.92 | -1238.29 | -4138.3 | -3.90 | -1028.57 | -2685.71 | -2.80 | -975.0 | -2700.0 | 0.14 | -17.65 | -36.36 | -14.54 | -247.76 | -387.92 | 37.64 | -2.94 | -10.34 | -0.00 | -100.0 | -100.0 | 100.00 | 68.57 | 257.14 | 19.32 | 15.34 | 49.88 |
| 23Q3 (19) | 14.27 | 63.09 | 81.09 | 1.54 | 168.75 | 134.92 | 3.82 | 55.92 | 30.82 | 1.75 | -22.91 | -28.86 | 0.42 | -20.75 | -40.85 | 0.32 | -23.81 | -40.74 | 0.17 | 0.0 | -22.73 | 9.84 | 16.04 | 49.32 | 38.78 | 4.5 | 15.62 | 40.68 | 144.27 | 127.28 | 59.32 | -69.09 | -76.18 | 16.75 | 3.78 | 29.74 |
| 23Q2 (18) | 8.75 | 85.77 | 4.29 | -2.24 | 75.81 | 30.65 | 2.45 | 139.52 | 435.62 | 2.27 | 134.82 | 318.27 | 0.53 | 134.87 | 340.91 | 0.42 | 138.89 | 347.06 | 0.17 | 0.0 | 6.25 | 8.48 | 4340.0 | 102.87 | 37.11 | 9.4 | 23.54 | -91.89 | -161.48 | -120.88 | 191.89 | 487.96 | 156.44 | 16.14 | 1.06 | -4.1 |
| 23Q1 (17) | 4.71 | -61.04 | 4381.82 | -9.26 | -1106.52 | 11.73 | -6.20 | -1168.97 | -10.52 | -6.52 | -1287.23 | -0.93 | -1.52 | -985.71 | -7.8 | -1.08 | -980.0 | -1.89 | 0.17 | -22.73 | 6.25 | -0.20 | -103.96 | 83.61 | 33.92 | -19.2 | 8.09 | 149.46 | -8.66 | -20.15 | -49.46 | 22.27 | 43.26 | 15.97 | 23.89 | -0.81 |
| 22Q4 (16) | 12.09 | 53.43 | 1214.13 | 0.92 | 120.86 | 109.48 | 0.58 | -80.14 | 109.68 | -0.47 | -119.11 | 93.44 | -0.14 | -119.72 | 92.22 | -0.10 | -118.52 | 92.54 | 0.22 | 0.0 | 15.79 | 5.05 | -23.37 | 328.51 | 41.98 | 25.16 | 25.31 | 163.64 | 209.76 | 0.46 | -63.64 | -125.55 | -2.88 | 12.89 | -0.15 | -9.23 |
| 22Q3 (15) | 7.88 | -6.08 | 87.62 | -4.41 | -36.53 | -2.08 | 2.92 | 500.0 | 235.19 | 2.46 | 336.54 | 209.33 | 0.71 | 422.73 | 218.33 | 0.54 | 417.65 | 220.0 | 0.22 | 37.5 | 10.0 | 6.59 | 57.66 | 377.54 | 33.54 | 11.65 | -7.01 | -149.09 | -133.88 | -173.55 | 249.09 | 173.26 | 349.09 | 12.91 | -23.29 | -8.24 |
| 22Q2 (14) | 8.39 | 7727.27 | 1964.44 | -3.23 | 69.21 | 65.45 | -0.73 | 86.99 | 93.21 | -1.04 | 83.9 | 88.7 | -0.22 | 84.4 | 89.67 | -0.17 | 83.96 | 89.38 | 0.16 | 0.0 | -5.88 | 4.18 | 442.62 | 162.57 | 30.04 | -4.27 | -10.38 | 440.00 | 135.07 | 408.65 | -340.00 | -290.0 | -2739.05 | 16.83 | 4.53 | 22.85 |
| 22Q1 (13) | -0.11 | -111.96 | -107.05 | -10.49 | -8.14 | -24.14 | -5.61 | 6.34 | 15.77 | -6.46 | 9.78 | -18.75 | -1.41 | 21.67 | -20.51 | -1.06 | 20.9 | -20.45 | 0.16 | -15.79 | 0.0 | -1.22 | 44.8 | 49.59 | 31.38 | -6.33 | -2.43 | 187.18 | 14.91 | 46.28 | -87.18 | -40.94 | -224.31 | 16.10 | 13.38 | 5.23 |
| 21Q4 (12) | 0.92 | -78.1 | -23.33 | -9.70 | -124.54 | -57.21 | -5.99 | -177.31 | 11.13 | -7.16 | -218.22 | -27.4 | -1.80 | -200.0 | 3.23 | -1.34 | -197.78 | 2.9 | 0.19 | -5.0 | -24.0 | -2.21 | -260.14 | 43.19 | 33.50 | -7.13 | -2.5 | 162.89 | -19.64 | 77.58 | -61.86 | 38.14 | -847.42 | 14.20 | 0.92 | 28.74 |
| 21Q3 (11) | 4.20 | 1033.33 | -6.25 | -4.32 | 53.8 | -282.3 | -2.16 | 79.91 | -38.46 | -2.25 | 75.54 | -40.62 | -0.60 | 71.83 | -5.26 | -0.45 | 71.88 | -2.27 | 0.20 | 17.65 | -25.93 | 1.38 | 120.66 | 35.29 | 36.07 | 7.61 | 2.36 | 202.70 | 134.33 | 177.78 | -100.00 | -876.19 | -470.0 | 14.07 | 2.7 | 44.9 |
| 21Q2 (10) | -0.45 | -128.85 | -108.21 | -9.35 | -10.65 | -7292.31 | -10.75 | -61.41 | -15257.14 | -9.20 | -69.12 | -5650.0 | -2.13 | -82.05 | -4160.0 | -1.60 | -81.82 | -3900.0 | 0.17 | 6.25 | -26.09 | -6.68 | -176.03 | -323.41 | 33.52 | 4.23 | 20.36 | 86.50 | -32.4 | 128.83 | 12.88 | 147.93 | -96.78 | 13.70 | -10.46 | 0 |
| 21Q1 (9) | 1.56 | 30.0 | -29.73 | -8.45 | -36.95 | -21.23 | -6.66 | 1.19 | -1191.8 | -5.44 | 3.2 | -1395.24 | -1.17 | 37.1 | -1400.0 | -0.88 | 36.23 | -1357.14 | 0.16 | -36.0 | -5.88 | -2.42 | 37.79 | -150.31 | 32.16 | -6.4 | 3.41 | 127.96 | 39.5 | 111.4 | -26.88 | -424.82 | -102.2 | 15.30 | 38.71 | 0 |
| 20Q4 (8) | 1.20 | -73.21 | -77.57 | -6.17 | -446.02 | -45.18 | -6.74 | -332.05 | 21.35 | -5.62 | -251.25 | 18.67 | -1.86 | -226.32 | -10.71 | -1.38 | -213.64 | -6.15 | 0.25 | -7.41 | 31.58 | -3.89 | -481.37 | 28.23 | 34.36 | -2.5 | 27.31 | 91.72 | 25.7 | 84.78 | 8.28 | -69.38 | -83.57 | 11.03 | 13.59 | -27.1 |
| 20Q3 (7) | 4.48 | -18.25 | -40.82 | -1.13 | -969.23 | -126.0 | -1.56 | -2128.57 | -0.65 | -1.60 | -900.0 | -25.0 | -0.57 | -1040.0 | -35.71 | -0.44 | -1000.0 | -37.5 | 0.27 | 17.39 | 8.0 | 1.02 | -65.89 | 20.0 | 35.24 | 26.54 | 14.19 | 72.97 | 124.32 | 132.19 | 27.03 | -93.24 | -60.59 | 9.71 | 0 | -10.51 |
| 20Q2 (6) | 5.48 | 146.85 | -34.37 | 0.13 | 101.87 | -93.19 | -0.07 | -111.48 | -101.57 | -0.16 | -138.1 | -104.75 | -0.05 | -155.56 | -104.81 | -0.04 | -157.14 | -105.0 | 0.23 | 35.29 | -4.17 | 2.99 | -37.84 | -56.67 | 27.85 | -10.45 | -14.96 | -300.00 | 73.27 | -805.0 | 400.00 | -67.27 | 596.3 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 2.22 | -58.5 | -47.14 | -6.97 | -64.0 | -51.85 | 0.61 | 107.12 | 115.8 | 0.42 | 106.08 | 112.96 | 0.09 | 105.36 | 110.71 | 0.07 | 105.38 | 110.77 | 0.17 | -10.53 | -15.0 | 4.81 | 188.75 | 529.46 | 31.10 | 15.23 | 15.23 | -1122.22 | -2360.71 | -1044.31 | 1222.22 | 2326.98 | 6587.18 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 5.35 | -29.33 | 0.0 | -4.25 | -750.0 | 0.0 | -8.57 | -452.9 | 0.0 | -6.91 | -439.84 | 0.0 | -1.68 | -300.0 | 0.0 | -1.30 | -306.25 | 0.0 | 0.19 | -24.0 | 0.0 | -5.42 | -737.65 | 0.0 | 26.99 | -12.54 | 0.0 | 49.64 | 57.95 | 0.0 | 50.36 | -26.56 | 0.0 | 15.13 | 39.45 | 0.0 |
| 19Q3 (3) | 7.57 | -9.34 | 0.0 | -0.50 | -126.18 | 0.0 | -1.55 | -134.75 | 0.0 | -1.28 | -137.98 | 0.0 | -0.42 | -140.38 | 0.0 | -0.32 | -140.0 | 0.0 | 0.25 | 4.17 | 0.0 | 0.85 | -87.68 | 0.0 | 30.86 | -5.77 | 0.0 | 31.43 | -26.14 | 0.0 | 68.57 | 19.37 | 0.0 | 10.85 | -2.25 | 0.0 |
| 19Q2 (2) | 8.35 | 98.81 | 0.0 | 1.91 | 141.61 | 0.0 | 4.46 | 215.54 | 0.0 | 3.37 | 204.01 | 0.0 | 1.04 | 223.81 | 0.0 | 0.80 | 223.08 | 0.0 | 0.24 | 20.0 | 0.0 | 6.90 | 716.07 | 0.0 | 32.75 | 21.34 | 0.0 | 42.55 | -64.19 | 0.0 | 57.45 | 404.91 | 0.0 | 11.10 | -12.11 | 0.0 |
| 19Q1 (1) | 4.20 | 0.0 | 0.0 | -4.59 | 0.0 | 0.0 | -3.86 | 0.0 | 0.0 | -3.24 | 0.0 | 0.0 | -0.84 | 0.0 | 0.0 | -0.65 | 0.0 | 0.0 | 0.20 | 0.0 | 0.0 | -1.12 | 0.0 | 0.0 | 26.99 | 0.0 | 0.0 | 118.84 | 0.0 | 0.0 | -18.84 | 0.0 | 0.0 | 12.63 | 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) | 9.98 | 32.19 | -2.56 | 0 | 4.45 | 14.48 | -4.63 | 0 | -4.94 | 0 | -4.50 | 0 | -3.13 | 0 | 0.65 | -12.16 | 1.63 | -59.05 | 37.64 | -10.34 | 55.39 | -95.2 | 44.61 | 0 | 1.43 | -65.23 | 16.95 | 17.79 |
| 2022 (9) | 7.55 | 360.37 | -3.86 | 0 | 3.89 | 3.9 | -0.34 | 0 | -1.02 | 0 | -1.04 | 0 | -0.75 | 0 | 0.74 | 1.37 | 3.98 | 0 | 41.98 | 25.31 | 1154.55 | 815.67 | -1054.55 | 0 | 4.12 | 3818.18 | 14.39 | 0.7 |
| 2021 (8) | 1.64 | -52.05 | -7.85 | 0 | 3.74 | 26.43 | -6.23 | 0 | -5.91 | 0 | -5.76 | 0 | -4.30 | 0 | 0.73 | -21.51 | -2.34 | 0 | 33.50 | -2.5 | 126.09 | -14.81 | -26.09 | 0 | 0.11 | -16.94 | 14.29 | 26.68 |
| 2020 (7) | 3.42 | -47.71 | -3.26 | 0 | 2.96 | 18.74 | -2.20 | 0 | -1.97 | 0 | -2.39 | 0 | -1.83 | 0 | 0.93 | 4.49 | 0.88 | 20.55 | 34.36 | 27.31 | 148.00 | 80.75 | -48.00 | 0 | 0.13 | -37.53 | 11.28 | -7.69 |
| 2019 (6) | 6.54 | -22.05 | -1.57 | 0 | 2.49 | 18.9 | -1.91 | 0 | -1.64 | 0 | -1.88 | 0 | -1.46 | 0 | 0.89 | 0.0 | 0.73 | -88.24 | 26.99 | -9.19 | 81.88 | 0 | 18.12 | -87.07 | 0.20 | -32.32 | 12.22 | 0.41 |
| 2018 (5) | 8.39 | -23.45 | -1.62 | 0 | 2.10 | 13.65 | 4.00 | 1112.12 | 3.57 | 1328.0 | 4.03 | 1200.0 | 3.19 | 1126.92 | 0.89 | -9.18 | 6.21 | 173.57 | 29.72 | 25.51 | -40.51 | 0 | 140.19 | 0 | 0.30 | 0 | 12.17 | 8.37 |
| 2017 (4) | 10.96 | -15.95 | 1.56 | -73.29 | 1.85 | 39.27 | 0.33 | -93.43 | 0.25 | -93.54 | 0.31 | -95.55 | 0.26 | -95.06 | 0.98 | -27.94 | 2.27 | -64.59 | 23.68 | -16.21 | 465.52 | 300.65 | -368.97 | 0 | 0.00 | 0 | 11.23 | 38.99 |
| 2016 (3) | 13.04 | -16.09 | 5.84 | -11.11 | 1.33 | -17.13 | 5.02 | -43.34 | 3.87 | -47.06 | 6.97 | -38.04 | 5.26 | -37.46 | 1.36 | 18.26 | 6.41 | -39.3 | 28.26 | -24.26 | 116.19 | 56.76 | -16.19 | 0 | 0.00 | 0 | 8.08 | -36.97 |
| 2015 (2) | 15.54 | -5.76 | 6.57 | 66.33 | 1.60 | -23.65 | 8.86 | -5.04 | 7.31 | -1.35 | 11.25 | 39.93 | 8.41 | 36.3 | 1.15 | 38.55 | 10.56 | -9.28 | 37.31 | 20.71 | 74.12 | 74.82 | 25.88 | -55.18 | 0.00 | 0 | 12.82 | -21.59 |
| 2014 (1) | 16.49 | 0 | 3.95 | 0 | 2.09 | 0.79 | 9.33 | 0 | 7.41 | 0 | 8.04 | 0 | 6.17 | 0 | 0.83 | -12.63 | 11.64 | -10.19 | 30.91 | -2.86 | 42.40 | -43.55 | 57.74 | 132.0 | 0.00 | 0 | 16.35 | 7.21 |
