- 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) | 38.79 | 27.68 | -78.18 | -63.55 | -12.02 | -160.31 | 81.97 | 337.66 | -21.21 | 82.01 | 337.57 | -21.24 | 3.61 | 340.67 | -21.52 | 3.13 | 344.53 | -24.03 | 0.04 | 0.0 | 0.0 | 98.18 | 620.3 | -16.07 | 14.71 | -12.13 | 18.15 | -77.78 | -146.67 | -176.39 | 175.56 | 363.33 | 9755.56 | 45.84 | -2.78 | 11.18 |
| 23Q3 (19) | 30.38 | 33.01 | 122.16 | -56.73 | 16.52 | 69.85 | -34.49 | 37.28 | 84.66 | -34.52 | 37.25 | 84.65 | -1.50 | 27.18 | 89.18 | -1.28 | 30.05 | 89.64 | 0.04 | 33.33 | -20.0 | -18.87 | 53.33 | 91.45 | 16.74 | 33.28 | 21.83 | 166.67 | 35.42 | 100.22 | -66.67 | -188.89 | -511.11 | 47.15 | -5.11 | 81.35 |
| 23Q2 (18) | 22.84 | 164.66 | 110.61 | -67.96 | 33.78 | 72.13 | -54.99 | -135.18 | 80.48 | -55.01 | -135.19 | 80.48 | -2.06 | -143.19 | 89.46 | -1.83 | -142.07 | 89.6 | 0.03 | 0.0 | -50.0 | -40.43 | -122.93 | 85.28 | 12.56 | 9.41 | 1.21 | 123.08 | 286.19 | 41.95 | -23.08 | -113.89 | -269.74 | 49.69 | -30.23 | 213.5 |
| 23Q1 (17) | 8.63 | -95.15 | 104.05 | -102.62 | -197.39 | 63.59 | 156.32 | 50.26 | 144.75 | 156.32 | 50.12 | 144.74 | 4.77 | 3.7 | 151.62 | 4.35 | 5.58 | 159.35 | 0.03 | -25.0 | 50.0 | 176.32 | 50.73 | 160.29 | 11.48 | -7.79 | 23.18 | -66.10 | -164.92 | -181.63 | 166.10 | 9235.59 | 748.96 | 71.22 | 72.74 | 78.54 |
| 22Q4 (16) | 177.80 | 229.69 | 113.04 | 105.37 | 155.99 | 111.8 | 104.03 | 146.27 | 67.49 | 104.13 | 146.31 | 24.41 | 4.60 | 133.19 | -10.33 | 4.12 | 133.33 | -9.25 | 0.04 | -20.0 | -20.0 | 116.98 | 153.0 | 78.32 | 12.45 | -9.39 | -20.75 | 101.82 | 22.31 | 26.45 | -1.82 | -111.21 | -109.33 | 41.23 | 58.58 | 178.02 |
| 22Q3 (15) | -137.10 | 36.33 | 0 | -188.19 | 22.82 | 0 | -224.85 | 20.2 | 0 | -224.87 | 20.19 | 0 | -13.86 | 29.1 | 40.9 | -12.36 | 29.73 | 42.72 | 0.05 | -16.67 | 131.25 | -220.73 | 19.61 | -267.49 | 13.74 | 10.72 | 26.99 | 83.24 | -3.99 | -3.51 | 16.22 | 19.28 | 18.08 | 26.00 | 64.04 | 1560.67 |
| 22Q2 (14) | -215.33 | -1.06 | -330.84 | -243.84 | 13.48 | -377.15 | -281.75 | 19.34 | -421.12 | -281.75 | 19.35 | -418.0 | -19.55 | -111.58 | -202.14 | -17.59 | -139.97 | -198.93 | 0.06 | 200.0 | -70.0 | -274.58 | 6.11 | -410.44 | 12.41 | 33.15 | 79.59 | 86.71 | 7.07 | -13.69 | 13.60 | -30.51 | 6081.87 | 15.85 | -60.27 | 386.2 |
| 22Q1 (13) | -213.08 | -355.31 | -395.94 | -281.84 | -666.51 | -635.41 | -349.30 | -662.39 | -463.74 | -349.37 | -517.41 | -536.44 | -9.24 | -280.12 | -277.69 | -7.33 | -261.45 | -253.03 | 0.02 | -60.0 | -66.67 | -292.45 | -545.81 | -396.9 | 9.32 | -40.67 | 9.52 | 80.98 | 0.57 | 48.07 | 19.57 | 0.43 | -56.82 | 39.89 | 168.98 | 286.16 |
| 21Q4 (12) | 83.46 | 0 | -9.61 | 49.75 | 0 | -37.91 | 62.11 | 0 | -46.51 | 83.70 | 0 | -24.85 | 5.13 | 121.88 | -62.8 | 4.54 | 121.04 | -63.68 | 0.05 | 131.25 | -54.55 | 65.60 | -50.22 | -44.05 | 15.71 | 45.19 | 79.13 | 80.52 | -6.66 | 16.45 | 19.48 | 41.85 | -36.86 | 14.83 | 933.15 | 122.01 |
| 21Q3 (11) | 0.00 | -100.0 | -100.0 | 0.00 | -100.0 | 100.0 | 0.00 | -100.0 | 100.0 | 0.00 | -100.0 | 100.0 | -23.45 | -222.52 | -1000.94 | -21.58 | -221.37 | -1023.96 | -0.16 | -180.0 | -633.33 | 131.79 | 49.0 | 322.17 | 10.82 | 56.58 | -12.18 | 86.27 | -14.12 | 63.91 | 13.73 | 6142.55 | -69.3 | -1.78 | -154.6 | -108.2 |
| 21Q2 (10) | 93.28 | 29.56 | 302.94 | 87.98 | 67.14 | 762.0 | 87.74 | -8.63 | 574.01 | 88.60 | 10.68 | 598.87 | 19.14 | 268.08 | 3344.07 | 17.78 | 271.19 | 3392.59 | 0.20 | 233.33 | 566.67 | 88.45 | -10.2 | 752.29 | 6.91 | -18.8 | -24.07 | 100.45 | 83.69 | 38.13 | -0.23 | -100.5 | -100.83 | 3.26 | -68.44 | 0 |
| 21Q1 (9) | 72.00 | -22.02 | 286.68 | 52.64 | -34.31 | 377.64 | 96.03 | -17.29 | 803.39 | 80.05 | -28.12 | 724.41 | 5.20 | -62.29 | 1825.93 | 4.79 | -61.68 | 1816.0 | 0.06 | -45.45 | 100.0 | 98.50 | -15.98 | 515.62 | 8.51 | -2.96 | -5.86 | 54.69 | -20.91 | 130.38 | 45.31 | 46.86 | -84.9 | 10.33 | 54.64 | 0 |
| 20Q4 (8) | 92.33 | 1724.7 | 170.19 | 80.13 | 336.16 | 144.77 | 116.11 | 283.57 | -91.89 | 111.37 | 276.0 | -91.44 | 13.79 | 747.42 | -84.08 | 12.50 | 751.04 | -76.58 | 0.11 | 266.67 | 175.0 | 117.24 | 297.64 | -91.86 | 8.77 | -28.81 | -29.9 | 69.14 | 31.38 | 651.77 | 30.86 | -31.03 | -72.56 | 6.68 | -69.22 | 0 |
| 20Q3 (7) | 5.06 | -78.14 | -84.95 | -33.93 | -155.3 | -544.11 | -63.25 | -241.71 | -2814.59 | -63.28 | -256.31 | -2815.88 | -2.13 | -261.02 | -834.48 | -1.92 | -255.56 | -681.82 | 0.03 | 0.0 | -25.0 | -59.32 | -337.46 | -477.11 | 12.32 | 35.38 | -93.52 | 52.63 | -27.63 | -84.96 | 44.74 | 64.04 | 117.89 | 21.70 | 0 | 58.74 |
| 20Q2 (6) | 23.15 | 24.33 | 16.62 | -13.29 | 29.91 | 36.65 | -18.51 | -274.13 | 31.27 | -17.76 | -282.9 | 34.0 | -0.59 | -318.52 | 76.31 | -0.54 | -316.0 | 15.62 | 0.03 | 0.0 | 0.0 | -13.56 | -184.75 | -198.02 | 9.10 | 0.66 | -95.2 | 72.73 | 140.4 | -6.49 | 27.27 | -90.91 | 22.73 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 18.62 | 114.16 | -28.25 | -18.96 | 89.41 | -162.6 | 10.63 | -99.26 | -19.83 | 9.71 | -99.25 | -26.77 | 0.27 | -99.69 | -82.8 | 0.25 | -99.53 | -67.53 | 0.03 | -25.0 | -25.0 | 16.00 | -98.89 | -45.6 | 9.04 | -27.74 | -95.12 | -180.00 | -1336.38 | -230.0 | 300.00 | 166.79 | 94.12 | 0.00 | 0 | -100.0 |
| 19Q4 (4) | -131.54 | -491.14 | 0.0 | -178.98 | -2442.67 | 0.0 | 1430.88 | 61311.16 | 0.0 | 1300.39 | 55710.73 | 0.0 | 86.61 | 29765.52 | 0.0 | 53.37 | 16072.73 | 0.0 | 0.04 | 0.0 | 0.0 | 1440.96 | 9060.58 | 0.0 | 12.51 | -93.42 | 0.0 | -12.53 | -103.58 | 0.0 | 112.45 | 144.98 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 33.63 | 69.42 | 0.0 | 7.64 | 136.42 | 0.0 | 2.33 | 108.65 | 0.0 | 2.33 | 108.66 | 0.0 | 0.29 | 111.65 | 0.0 | 0.33 | 151.56 | 0.0 | 0.04 | 33.33 | 0.0 | 15.73 | 445.71 | 0.0 | 190.25 | 0.25 | 0.0 | 350.00 | 350.0 | 0.0 | -250.00 | -1225.0 | 0.0 | 13.67 | -26.31 | 0.0 |
| 19Q2 (2) | 19.85 | -23.51 | 0.0 | -20.98 | -190.58 | 0.0 | -26.93 | -303.09 | 0.0 | -26.91 | -302.94 | 0.0 | -2.49 | -258.6 | 0.0 | -0.64 | -183.12 | 0.0 | 0.03 | -25.0 | 0.0 | -4.55 | -115.47 | 0.0 | 189.78 | 2.36 | 0.0 | 77.78 | 242.59 | 0.0 | 22.22 | -85.62 | 0.0 | 18.55 | 17.93 | 0.0 |
| 19Q1 (1) | 25.95 | 0.0 | 0.0 | -7.22 | 0.0 | 0.0 | 13.26 | 0.0 | 0.0 | 13.26 | 0.0 | 0.0 | 1.57 | 0.0 | 0.0 | 0.77 | 0.0 | 0.0 | 0.04 | 0.0 | 0.0 | 29.41 | 0.0 | 0.0 | 185.40 | 0.0 | 0.0 | -54.55 | 0.0 | 0.0 | 154.55 | 0.0 | 0.0 | 15.73 | 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) | 26.64 | 0 | -70.45 | 0 | 13.47 | 105.44 | 31.18 | 0 | 31.18 | 0 | 4.83 | 0 | 4.38 | 0 | 0.14 | -12.5 | 47.67 | 0 | 14.71 | 18.15 | -226.67 | 0 | 326.67 | 1798.2 | 0.69 | 18.79 | 52.15 | 92.15 |
| 2022 (9) | -125.69 | 0 | -174.84 | 0 | 6.56 | 86.63 | -211.17 | 0 | -211.17 | 0 | -38.94 | 0 | -32.94 | 0 | 0.16 | 0.0 | -196.07 | 0 | 12.45 | -20.75 | 82.79 | -15.91 | 17.21 | 2120.0 | 0.58 | 100.29 | 27.14 | 80.57 |
| 2021 (8) | 65.63 | 9.47 | 34.48 | -6.86 | 3.51 | 40.54 | 34.78 | -38.33 | 33.72 | -37.15 | 6.10 | -46.26 | 5.46 | -46.89 | 0.16 | -15.79 | 38.65 | -34.77 | 15.71 | 79.13 | 98.45 | 50.34 | 0.78 | -97.75 | 0.29 | 57.39 | 15.03 | 13.26 |
| 2020 (7) | 59.95 | 0 | 37.02 | 0 | 2.50 | -68.94 | 56.40 | -84.63 | 53.65 | -83.9 | 11.35 | -86.82 | 10.28 | -80.73 | 0.19 | 18.75 | 59.25 | -84.48 | 8.77 | -29.9 | 65.49 | 0 | 34.51 | -69.64 | 0.18 | 0 | 13.27 | -30.52 |
| 2019 (6) | -13.72 | 0 | -50.16 | 0 | 8.05 | -4.75 | 366.89 | 0 | 333.31 | 0 | 86.09 | 0 | 53.36 | 0 | 0.16 | -5.88 | 381.73 | 11193.79 | 12.51 | -93.53 | -13.68 | 0 | 113.68 | 174.18 | 0.00 | 0 | 19.10 | 27.84 |
| 2018 (5) | 23.65 | -1.25 | -6.98 | 0 | 8.45 | 6.32 | -11.64 | 0 | -11.67 | 0 | -5.77 | 0 | -1.08 | 0 | 0.17 | -5.56 | 3.38 | -84.85 | 193.38 | 0.63 | 60.98 | 0 | 41.46 | -69.84 | 0.00 | 0 | 14.94 | 6.03 |
| 2017 (4) | 23.95 | 15.92 | -2.85 | 0 | 7.95 | -14.8 | 8.32 | 0 | 8.32 | 0 | 4.64 | 0 | 2.44 | 0 | 0.18 | 12.5 | 22.31 | 446.81 | 192.17 | -12.79 | -34.38 | 0 | 137.50 | 0 | 0.00 | 0 | 14.09 | -10.25 |
| 2016 (3) | 20.66 | 8.97 | -16.41 | 0 | 9.33 | 18.57 | -12.34 | 0 | -12.34 | 0 | -6.23 | 0 | -1.01 | 0 | 0.16 | -5.88 | 4.08 | -69.09 | 220.35 | -1.52 | 133.33 | -91.45 | -33.33 | 0 | 0.00 | 0 | 15.70 | 1.49 |
| 2015 (2) | 18.96 | 134.94 | -19.68 | 0 | 7.87 | -22.53 | -1.18 | 0 | -1.18 | 0 | -0.70 | 0 | 0.69 | -89.5 | 0.17 | -29.17 | 13.20 | -65.24 | 223.76 | -18.45 | 1560.00 | 0 | -1460.00 | 0 | 0.00 | 0 | 15.47 | -29.2 |
| 2014 (1) | 8.07 | 0 | -23.55 | 0 | 10.16 | -42.12 | 23.60 | 0 | 23.48 | 0 | 27.93 | 0 | 6.57 | 0 | 0.24 | -11.11 | 37.97 | 0 | 274.40 | -49.54 | -100.00 | 0 | 200.00 | 3582.35 | 0.00 | 0 | 21.85 | 52.8 |
