- 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) | 56.63 | -2.86 | 1158.44 | 25.49 | -46.53 | 126.28 | 27.22 | -43.48 | 136.84 | 19.44 | -49.41 | 125.21 | 1.92 | -52.48 | 286.41 | 1.03 | -53.81 | 339.53 | 0.05 | -16.67 | 0 | 29.87 | -40.51 | 141.82 | 86.94 | -8.93 | -49.75 | 93.65 | -5.52 | -29.76 | 6.35 | 623.81 | 119.05 | 11.69 | 59.26 | -83.4 |
| 23Q3 (19) | 58.30 | 23.52 | 1699.38 | 47.67 | 24.92 | 186.75 | 48.16 | 25.38 | 184.33 | 38.43 | 20.21 | 165.64 | 4.04 | -72.04 | 553.93 | 2.23 | -69.33 | 896.43 | 0.06 | -73.91 | 500.0 | 50.21 | 29.07 | 272.13 | 95.46 | 38.25 | -43.74 | 99.12 | -0.02 | 6.75 | 0.88 | 52.63 | -87.72 | 7.34 | 367.52 | -85.0 |
| 23Q2 (18) | 47.20 | 1.18 | 891.6 | 38.16 | 2.39 | 215.53 | 38.41 | 3.31 | 209.37 | 31.97 | 0.16 | 199.25 | 14.45 | -5.86 | 2826.42 | 7.27 | 19.38 | 3260.87 | 0.23 | 21.05 | 2200.0 | 38.90 | 2.96 | 268.54 | 69.05 | -48.96 | -51.5 | 99.14 | -1.19 | -0.86 | 0.57 | 271.26 | -94.83 | 1.57 | -12.29 | -96.31 |
| 23Q1 (17) | 46.65 | 936.67 | 880.04 | 37.27 | 138.43 | 184.99 | 37.18 | 150.32 | 187.13 | 31.92 | 141.4 | 172.71 | 15.35 | 1590.29 | 2357.35 | 6.09 | 1516.28 | 1945.45 | 0.19 | 0 | 1800.0 | 37.78 | 152.89 | 192.35 | 135.28 | -21.81 | 42.61 | 100.34 | -24.75 | -9.7 | -0.34 | 98.99 | 0 | 1.79 | -97.46 | -96.19 |
| 22Q4 (16) | 4.50 | 38.89 | -5.66 | -96.99 | -76.51 | -66.25 | -73.89 | -29.38 | -4.14 | -77.10 | -31.68 | -7.32 | -1.03 | -15.73 | 31.79 | -0.43 | -53.57 | 35.82 | 0.00 | -100.0 | -100.0 | -71.43 | -144.87 | -7.14 | 173.01 | 1.96 | 41.19 | 133.33 | 43.59 | 58.33 | -33.33 | -566.67 | -311.11 | 70.41 | 43.93 | 56.57 |
| 22Q3 (15) | 3.24 | -31.93 | -31.93 | -54.95 | -66.36 | -70.33 | -57.11 | -62.61 | -105.14 | -58.55 | -81.78 | -91.09 | -0.89 | -67.92 | -134.21 | -0.28 | -21.74 | -55.56 | 0.01 | 0.0 | 0.0 | -29.17 | -26.39 | -16.68 | 169.68 | 19.19 | 35.57 | 92.86 | -7.14 | -25.71 | 7.14 | -35.71 | 128.57 | 48.92 | 15.08 | -38.08 |
| 22Q2 (14) | 4.76 | 0.0 | 0.21 | -33.03 | 24.68 | 62.06 | -35.12 | 17.69 | 56.55 | -32.21 | 26.63 | 59.87 | -0.53 | 22.06 | 15.87 | -0.23 | 30.3 | 28.12 | 0.01 | 0.0 | 0 | -23.08 | 43.58 | 71.15 | 142.36 | 50.07 | 41.48 | 100.00 | -10.0 | -11.11 | 11.11 | 0 | 188.89 | 42.51 | -9.55 | -57.85 |
| 22Q1 (13) | 4.76 | -0.21 | -1.65 | -43.85 | 24.84 | 19.13 | -42.67 | 39.86 | 10.84 | -43.90 | 38.89 | 10.48 | -0.68 | 54.97 | -13.33 | -0.33 | 50.75 | -13.79 | 0.01 | 0.0 | 0.0 | -40.91 | 38.64 | 11.35 | 94.86 | -22.59 | 4.14 | 111.11 | 31.94 | -4.76 | -0.00 | -100.0 | 100.0 | 47.00 | 4.51 | 41.87 |
| 21Q4 (12) | 4.77 | 0.21 | 101.38 | -58.34 | -80.84 | 99.73 | -70.95 | -154.85 | 99.56 | -71.84 | -134.46 | 99.49 | -1.51 | -297.37 | -8.63 | -0.67 | -272.22 | -15.52 | 0.01 | 0.0 | 0 | -66.67 | -166.68 | 0 | 122.54 | -2.09 | -13.25 | 84.21 | -32.63 | -35.6 | 15.79 | 163.16 | 141.05 | 44.97 | -43.08 | 100.07 |
| 21Q3 (11) | 4.76 | 0.21 | 102.17 | -32.26 | 62.94 | 99.36 | -27.84 | 65.55 | 99.09 | -30.64 | 61.82 | 99.06 | -0.38 | 39.68 | 15.56 | -0.18 | 43.75 | 5.26 | 0.01 | 0 | 0 | -25.00 | 68.75 | 0 | 125.16 | 24.39 | -5.78 | 125.00 | 11.11 | -16.67 | -25.00 | -100.0 | 50.0 | 79.01 | -21.66 | -99.72 |
| 21Q2 (10) | 4.75 | -1.86 | 0 | -87.05 | -60.55 | 0 | -80.82 | -68.87 | 0 | -80.26 | -63.66 | 0 | -0.63 | -5.0 | -126.92 | -0.32 | -10.34 | -130.19 | 0.00 | -100.0 | 100.0 | -80.00 | -73.35 | 30.91 | 100.62 | 10.46 | -20.4 | 112.50 | -3.57 | 662.5 | -12.50 | 25.0 | -110.42 | 100.85 | 204.41 | 0 |
| 21Q1 (9) | 4.84 | 101.4 | 157.76 | -54.22 | 99.75 | -54.34 | -47.86 | 99.7 | 64.6 | -49.04 | 99.65 | 86.54 | -0.60 | 56.83 | 82.35 | -0.29 | 50.0 | 82.21 | 0.01 | 0 | 0.0 | -46.15 | 0 | 59.39 | 91.09 | -35.51 | -21.95 | 116.67 | -10.78 | 337.5 | -16.67 | 56.67 | -122.73 | 33.13 | 100.05 | -51.55 |
| 20Q4 (8) | -346.25 | -57.96 | -1904.33 | -21685.00 | -332.25 | -345953.27 | -16047.50 | -422.65 | -198462.18 | -14037.50 | -329.33 | -199213.48 | -1.39 | -208.89 | -389.58 | -0.58 | -205.26 | -341.67 | 0.00 | 0 | -100.0 | 0.00 | 0 | -100.0 | 141.25 | 6.33 | 38.94 | 130.77 | -12.82 | 63.46 | -38.46 | 23.08 | -292.31 | -68741.20 | -340.0 | 0 |
| 20Q3 (7) | -219.20 | 0 | -3815.25 | -5016.80 | 0 | -38254.74 | -3070.40 | 0 | -26483.55 | -3269.60 | 0 | -32926.26 | -0.45 | -119.23 | 26.23 | -0.19 | -117.92 | 36.67 | 0.00 | 100.0 | -100.0 | 0.00 | 100.0 | -100.0 | 132.84 | 5.09 | 32.1 | 150.00 | 850.0 | 50.0 | -50.00 | -141.67 | -250.0 | 28642.40 | 0 | 71721.46 |
| 20Q2 (6) | 0.00 | 100.0 | -100.0 | 0.00 | 100.0 | 100.0 | 0.00 | 100.0 | 100.0 | 0.00 | 100.0 | -100.0 | 2.34 | 168.82 | 23300.0 | 1.06 | 165.03 | 0 | -0.01 | -200.0 | -133.33 | -115.79 | -1.89 | -781.92 | 126.41 | 8.31 | 24.8 | -20.00 | -175.0 | 0 | 120.00 | 63.64 | 0 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | -8.38 | -143.67 | -159.69 | -35.13 | -660.29 | -1204.72 | -135.18 | -1770.95 | -3548.47 | -364.41 | -5268.94 | -11487.81 | -3.40 | -808.33 | -1516.67 | -1.63 | -779.17 | -1581.82 | 0.01 | -66.67 | -66.67 | -113.64 | -659.53 | -639.86 | 116.71 | 14.8 | 12.03 | 26.67 | -66.67 | -73.33 | 73.33 | 266.67 | 0 | 68.38 | 0 | 65.81 |
| 19Q4 (4) | 19.19 | 225.25 | 0.0 | 6.27 | 147.94 | 0.0 | 8.09 | 170.04 | 0.0 | 7.05 | 171.21 | 0.0 | 0.48 | 178.69 | 0.0 | 0.24 | 180.0 | 0.0 | 0.03 | 0.0 | 0.0 | 20.31 | 286.12 | 0.0 | 101.66 | 1.09 | 0.0 | 80.00 | -20.0 | 0.0 | 20.00 | 240.0 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 5.90 | -39.18 | 0.0 | -13.08 | -508.37 | 0.0 | -11.55 | -28775.0 | 0.0 | -9.90 | -7715.38 | 0.0 | -0.61 | -6200.0 | 0.0 | -0.30 | 0 | 0.0 | 0.03 | 0.0 | 0.0 | 5.26 | -69.02 | 0.0 | 100.56 | -0.72 | 0.0 | 100.00 | 0 | 0.0 | -14.29 | 0 | 0.0 | 39.88 | -5.83 | 0.0 |
| 19Q2 (2) | 9.70 | -30.91 | 0.0 | -2.15 | -167.61 | 0.0 | -0.04 | -101.02 | 0.0 | 0.13 | -95.94 | 0.0 | 0.01 | -95.83 | 0.0 | 0.00 | -100.0 | 0.0 | 0.03 | 0.0 | 0.0 | 16.98 | -19.33 | 0.0 | 101.29 | -2.77 | 0.0 | 0.00 | -100.0 | 0.0 | 0.00 | 0 | 0.0 | 42.35 | 2.69 | 0.0 |
| 19Q1 (1) | 14.04 | 0.0 | 0.0 | 3.18 | 0.0 | 0.0 | 3.92 | 0.0 | 0.0 | 3.20 | 0.0 | 0.0 | 0.24 | 0.0 | 0.0 | 0.11 | 0.0 | 0.0 | 0.03 | 0.0 | 0.0 | 21.05 | 0.0 | 0.0 | 104.18 | 0.0 | 0.0 | 100.00 | 0.0 | 0.0 | 0.00 | 0.0 | 0.0 | 41.24 | 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) | 49.21 | 1041.76 | 37.52 | 0 | 0.74 | -92.4 | 37.83 | 0 | 31.33 | 0 | 34.88 | 0 | 15.85 | 0 | 0.50 | 1566.67 | 38.74 | 0 | 86.94 | -49.75 | 99.15 | -8.63 | 0.85 | 0 | 0.18 | -15.51 | 3.35 | -93.49 |
| 2022 (9) | 4.31 | -9.83 | -55.49 | 0 | 9.68 | 538.71 | -51.20 | 0 | -51.76 | 0 | -3.41 | 0 | -1.34 | 0 | 0.03 | 0.0 | -38.71 | 0 | 173.01 | 41.19 | 108.51 | 11.44 | -8.51 | 0 | 0.21 | -39.65 | 51.44 | -13.59 |
| 2021 (8) | 4.78 | 0 | -55.66 | 0 | 1.52 | -99.35 | -57.48 | 0 | -58.67 | 0 | -3.71 | 0 | -1.61 | 0 | 0.03 | 0 | -53.03 | 0 | 122.54 | -13.25 | 97.37 | -26.97 | 2.63 | 0 | 0.35 | -36.06 | 59.53 | 0 |
| 2020 (7) | -22.48 | 0 | -1121.69 | 0 | 233.33 | -12.5 | -841.40 | 0 | -3863.47 | 0 | -2.93 | 0 | -1.33 | 0 | 0.00 | 0 | -600.00 | 0 | 141.25 | 38.94 | 133.33 | 15.56 | -33.33 | 0 | 0.55 | 0 | -340.62 | 0 |
| 2019 (6) | 12.99 | 171.19 | -249.03 | 0 | 266.67 | 1576.19 | -219.32 | 0 | 6.41 | 0 | -3.50 | 0 | -1.50 | 0 | 0.01 | -94.74 | 83.33 | 532.25 | 101.66 | -43.93 | 115.38 | -6.25 | -15.38 | 0 | 0.00 | 0 | 185.90 | 327.65 |
| 2018 (5) | 4.79 | -44.56 | -7.48 | 0 | 15.91 | 0.91 | -6.01 | 0 | -4.82 | 0 | -1.84 | 0 | -0.86 | 0 | 0.19 | -32.14 | 13.18 | -37.74 | 181.31 | 508.01 | 123.08 | 0 | -23.08 | 0 | 0.00 | 0 | 43.47 | 7.28 |
| 2017 (4) | 8.64 | -49.06 | -3.76 | 0 | 15.77 | 18.24 | 1.22 | -81.11 | 1.01 | -79.6 | 0.38 | -82.24 | 0.32 | -80.0 | 0.28 | -6.67 | 21.17 | -11.5 | 29.82 | -27.8 | -266.67 | 0 | 366.67 | 1366.67 | 0.00 | 0 | 40.52 | 10.95 |
| 2016 (3) | 16.96 | -44.19 | 5.00 | -66.26 | 13.33 | 37.28 | 6.46 | -59.8 | 4.95 | -60.21 | 2.14 | -63.97 | 1.60 | -60.98 | 0.30 | -6.25 | 23.92 | -19.89 | 41.30 | -17.1 | 81.25 | -10.82 | 25.00 | 275.0 | 0.00 | 0 | 36.52 | 3.96 |
| 2015 (2) | 30.39 | 8.5 | 14.82 | 43.74 | 9.71 | 54.82 | 16.07 | 40.23 | 12.44 | 30.26 | 5.94 | 28.57 | 4.10 | 25.38 | 0.32 | -3.03 | 29.86 | 44.53 | 49.82 | -5.54 | 91.11 | 0.87 | 6.67 | -31.11 | 0.00 | 0 | 35.13 | -11.06 |
| 2014 (1) | 28.01 | 0 | 10.31 | 0 | 6.27 | 74.95 | 11.46 | 0 | 9.55 | 0 | 4.62 | 0 | 3.27 | 0 | 0.33 | 0.0 | 20.66 | 92.01 | 52.74 | 41.55 | 90.32 | -67.74 | 9.68 | 0 | 0.00 | 0 | 39.50 | -1.1 |
