- 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) | 7.85 | -37.4 | 165.69 | -4.95 | -2003.85 | 93.59 | 27.12 | 583.12 | 187.12 | 27.02 | 584.05 | 186.27 | 16.63 | 452.49 | 739.62 | 11.09 | 428.1 | 706.01 | 0.41 | -21.15 | 583.33 | 28.21 | 550.0 | 201.07 | 56.35 | 27.26 | 94.44 | -17.89 | -386.32 | -107.05 | 118.95 | 26.88 | 177.32 | 8.04 | 4.69 | -70.62 |
| 23Q3 (19) | 12.54 | 52.18 | 167.38 | 0.26 | 104.08 | 100.26 | 3.97 | 246.49 | 105.27 | 3.95 | 258.0 | 105.22 | 3.01 | 348.76 | 163.77 | 2.10 | 362.5 | 186.42 | 0.52 | 52.94 | 1633.33 | 4.34 | 312.75 | 106.71 | 44.28 | -10.65 | -4.11 | 6.25 | -97.27 | -95.22 | 93.75 | 172.92 | 404.69 | 7.68 | 4.92 | -89.12 |
| 23Q2 (18) | 8.24 | -49.66 | -56.05 | -6.37 | 28.91 | 91.94 | -2.71 | -379.38 | 95.67 | -2.50 | -350.0 | 95.96 | -1.21 | -650.0 | 95.55 | -0.80 | -480.95 | 79.75 | 0.34 | 112.5 | 385.71 | -2.04 | -212.09 | 96.37 | 49.56 | 41.04 | -92.74 | 228.57 | 122.86 | 75.82 | -128.57 | -111.69 | -328.57 | 7.32 | -52.47 | -85.03 |
| 23Q1 (17) | 16.37 | 236.99 | -21.11 | -8.96 | 88.4 | 95.26 | 0.97 | 103.12 | 100.68 | 1.00 | 103.19 | 100.7 | 0.22 | 108.46 | 101.24 | 0.21 | 111.48 | 106.25 | 0.16 | 166.67 | 433.33 | 1.82 | 106.52 | 101.56 | 35.14 | 21.26 | -92.05 | -1000.00 | -493.94 | -827.27 | 1100.00 | 815.0 | 3033.33 | 15.40 | -43.73 | -89.33 |
| 22Q4 (16) | -11.95 | -354.8 | -289.08 | -77.24 | 23.02 | 52.83 | -31.13 | 58.68 | 29.38 | -31.32 | 58.58 | 28.75 | -2.60 | 44.92 | 59.88 | -1.83 | 24.69 | -47.58 | 0.06 | 100.0 | 100.0 | -27.91 | 56.87 | -11.64 | 28.98 | -37.25 | -91.91 | 253.85 | 94.12 | -41.42 | -153.85 | -400.0 | 48.72 | 27.37 | -61.22 | -77.54 |
| 22Q3 (15) | 4.69 | -74.99 | -84.52 | -100.34 | -27.01 | 58.46 | -75.34 | -20.45 | 60.0 | -75.62 | -22.26 | 59.79 | -4.72 | 82.65 | 74.28 | -2.43 | 38.48 | 44.52 | 0.03 | -57.14 | 50.0 | -64.71 | -15.04 | 56.86 | 46.18 | -93.23 | -86.31 | 130.77 | 0.59 | 2.75 | -30.77 | -2.56 | -12.82 | 70.57 | 44.29 | -61.54 |
| 22Q2 (14) | 18.75 | -9.64 | 60.39 | -79.00 | 58.17 | 46.18 | -62.55 | 55.89 | 50.31 | -61.85 | 56.65 | 50.76 | -27.21 | -53.47 | -18.56 | -3.95 | -17.56 | 32.71 | 0.07 | 133.33 | 40.0 | -56.25 | 51.79 | 48.44 | 682.49 | 54.37 | 151.63 | 130.00 | -5.45 | 13.75 | -30.00 | 20.0 | -110.0 | 48.91 | -66.11 | -56.28 |
| 22Q1 (13) | 20.75 | 228.32 | 9.27 | -188.84 | -15.32 | 3.27 | -141.81 | -221.71 | 14.83 | -142.68 | -224.57 | 14.4 | -17.73 | -173.61 | 26.46 | -3.36 | -170.97 | 50.66 | 0.03 | 0.0 | -25.0 | -116.67 | -366.68 | 19.23 | 442.11 | 23.48 | 52.65 | 137.50 | -68.27 | 21.32 | -37.50 | 87.5 | -87.5 | 144.30 | 18.43 | -7.99 |
| 21Q4 (12) | 6.32 | -79.14 | -71.15 | -163.75 | 32.21 | -28.33 | -44.08 | 76.6 | 56.62 | -43.96 | 76.62 | 56.87 | -6.48 | 64.69 | 66.48 | -1.24 | 71.69 | 83.49 | 0.03 | 50.0 | -57.14 | -25.00 | 83.33 | 73.08 | 358.04 | 6.15 | 69.17 | 433.33 | 240.48 | 261.11 | -300.00 | -1000.0 | -1025.0 | 121.84 | -33.61 | 8.56 |
| 21Q3 (11) | 30.29 | 159.11 | 130.87 | -241.57 | -64.58 | -159.89 | -188.34 | -49.63 | -120.44 | -188.04 | -49.7 | -119.47 | -18.35 | 20.04 | 55.75 | -4.38 | 25.38 | 62.63 | 0.02 | -60.0 | -85.71 | -150.00 | -37.5 | -113.16 | 337.30 | 24.36 | 217.07 | 127.27 | 11.36 | 17.09 | -27.27 | -90.91 | -213.64 | 183.51 | 64.02 | 163.32 |
| 21Q2 (10) | 11.69 | -38.44 | -79.96 | -146.78 | 24.82 | 42.85 | -125.87 | 24.4 | 40.02 | -125.61 | 24.64 | 39.78 | -22.95 | 4.81 | 60.54 | -5.87 | 13.8 | 43.99 | 0.05 | 25.0 | 0.0 | -109.09 | 24.47 | 35.83 | 271.23 | -6.35 | -62.01 | 114.29 | 0.84 | -6.88 | -14.29 | 28.57 | 37.14 | 111.88 | -28.66 | 0 |
| 21Q1 (9) | 18.99 | -13.33 | 27.19 | -195.23 | -53.0 | -522.54 | -166.50 | -63.86 | -536.22 | -166.68 | -63.54 | -530.41 | -24.11 | -24.73 | 47.71 | -6.81 | 9.32 | 41.34 | 0.04 | -42.86 | -90.91 | -144.44 | -55.55 | -584.55 | 289.62 | 36.84 | -6.17 | 113.33 | -5.56 | -6.67 | -20.00 | 25.0 | 6.67 | 156.83 | 39.74 | 390.71 |
| 20Q4 (8) | 21.91 | 67.0 | 34.5 | -127.60 | -37.28 | -672.4 | -101.61 | -18.93 | -516.94 | -101.92 | -18.95 | -516.58 | -19.33 | 53.39 | 49.37 | -7.51 | 35.92 | 24.37 | 0.07 | -50.0 | -88.33 | -92.86 | -31.96 | -577.81 | 211.65 | 98.96 | -26.31 | 120.00 | 10.4 | 20.0 | -26.67 | -206.67 | 0 | 112.23 | 61.04 | 0 |
| 20Q3 (7) | 13.12 | -77.5 | 20.15 | -92.95 | 63.81 | -1190.97 | -85.44 | 59.28 | -1169.54 | -85.68 | 58.92 | -1163.72 | -41.47 | 28.7 | -57.32 | -11.72 | -11.83 | -85.15 | 0.14 | 180.0 | -85.11 | -70.37 | 58.61 | -1210.43 | 106.38 | -85.1 | -61.96 | 108.70 | -11.43 | 2.66 | -8.70 | 61.74 | -47.83 | 69.69 | 0 | 502.85 |
| 20Q2 (6) | 58.32 | 290.62 | 265.64 | -256.85 | -719.04 | -11736.41 | -209.84 | -701.83 | -10037.2 | -208.57 | -688.84 | -9975.85 | -58.16 | -26.13 | -691.29 | -10.48 | 9.73 | -539.02 | 0.05 | -88.64 | -93.83 | -170.00 | -705.69 | -30257.14 | 714.03 | 131.33 | 109.53 | 122.73 | 1.07 | 12.5 | -22.73 | -6.06 | -150.0 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 14.93 | -8.35 | -3.37 | -31.36 | -89.83 | -357.81 | -26.17 | -58.89 | -395.64 | -26.44 | -59.95 | -398.87 | -46.11 | -20.77 | -236.82 | -11.61 | -16.92 | -225.21 | 0.44 | -26.67 | -35.29 | -21.10 | -54.01 | -513.37 | 308.66 | 7.47 | -8.07 | 121.43 | 21.43 | -6.9 | -21.43 | 0 | 29.59 | 31.96 | 0 | 130.26 |
| 19Q4 (4) | 16.29 | 49.18 | 0.0 | -16.52 | -129.44 | 0.0 | -16.47 | -144.73 | 0.0 | -16.53 | -143.81 | 0.0 | -38.18 | -44.84 | 0.0 | -9.93 | -56.87 | 0.0 | 0.60 | -36.17 | 0.0 | -13.70 | -155.12 | 0.0 | 287.21 | 2.7 | 0.0 | 100.00 | -5.56 | 0.0 | -0.00 | 100.0 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 10.92 | -31.54 | 0.0 | -7.20 | -231.8 | 0.0 | -6.73 | -225.12 | 0.0 | -6.78 | -227.54 | 0.0 | -26.36 | -258.64 | 0.0 | -6.33 | -285.98 | 0.0 | 0.94 | 16.05 | 0.0 | -5.37 | -858.93 | 0.0 | 279.67 | -17.93 | 0.0 | 105.88 | -2.94 | 0.0 | -5.88 | 35.29 | 0.0 | 11.56 | 5.67 | 0.0 |
| 19Q2 (2) | 15.95 | 3.24 | 0.0 | -2.17 | 68.32 | 0.0 | -2.07 | 60.8 | 0.0 | -2.07 | 60.94 | 0.0 | -7.35 | 46.31 | 0.0 | -1.64 | 54.06 | 0.0 | 0.81 | 19.12 | 0.0 | -0.56 | 83.72 | 0.0 | 340.77 | 1.5 | 0.0 | 109.09 | -16.36 | 0.0 | -9.09 | 70.13 | 0.0 | 10.94 | -21.18 | 0.0 |
| 19Q1 (1) | 15.45 | 0.0 | 0.0 | -6.85 | 0.0 | 0.0 | -5.28 | 0.0 | 0.0 | -5.30 | 0.0 | 0.0 | -13.69 | 0.0 | 0.0 | -3.57 | 0.0 | 0.0 | 0.68 | 0.0 | 0.0 | -3.44 | 0.0 | 0.0 | 335.75 | 0.0 | 0.0 | 130.43 | 0.0 | 0.0 | -30.43 | 0.0 | 0.0 | 13.88 | 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) | 10.47 | 0 | -3.80 | 0 | 0.46 | -87.54 | 9.59 | 0 | 9.60 | 0 | 18.70 | 0 | 13.19 | 0 | 1.35 | 650.0 | 10.30 | 0 | 56.35 | 94.44 | -40.00 | 0 | 140.00 | 0 | 0.00 | 0 | 8.49 | -82.65 |
| 2022 (9) | -0.05 | 0 | -90.26 | 0 | 3.66 | -75.85 | -54.43 | 0 | -54.51 | 0 | -15.98 | 0 | -9.57 | 0 | 0.18 | 20.0 | -47.56 | 0 | 28.98 | -91.91 | 164.44 | 17.85 | -64.44 | 0 | 0.00 | 0 | 48.93 | -64.72 |
| 2021 (8) | 15.64 | -13.45 | -180.18 | 0 | 15.15 | 86.48 | -128.74 | 0 | -128.62 | 0 | -71.56 | 0 | -18.40 | 0 | 0.15 | -76.19 | -106.06 | 0 | 358.04 | 69.17 | 139.53 | 18.07 | -39.53 | 0 | 0.00 | 0 | 138.70 | 141.01 |
| 2020 (7) | 18.07 | 25.75 | -64.86 | 0 | 8.12 | 392.43 | -54.70 | 0 | -54.88 | 0 | -120.76 | 0 | -34.15 | 0 | 0.63 | -83.38 | -45.62 | 0 | 211.65 | -26.31 | 118.18 | 6.88 | -18.18 | 0 | 0.47 | -30.93 | 57.55 | 341.67 |
| 2019 (6) | 14.37 | -4.64 | -6.79 | 0 | 1.65 | 208.82 | -6.13 | 0 | -6.16 | 0 | -81.29 | 0 | -23.18 | 0 | 3.79 | 10.17 | -4.36 | 0 | 287.21 | 24.12 | 110.58 | 13.77 | -10.58 | 0 | 0.67 | 34.23 | 13.03 | 7.69 |
| 2018 (5) | 15.07 | 15.3 | -4.64 | 0 | 0.53 | 30.2 | -4.75 | 0 | -4.76 | 0 | -45.75 | 0 | -16.36 | 0 | 3.44 | 9.55 | -4.14 | 0 | 231.40 | 57.45 | 97.20 | 46.41 | 2.80 | -91.66 | 0.50 | 0 | 12.10 | -0.08 |
| 2017 (4) | 13.07 | -2.24 | -3.24 | 0 | 0.41 | -6.67 | -4.90 | 0 | -4.89 | 0 | -34.46 | 0 | -15.35 | 0 | 3.14 | 12.95 | -4.39 | 0 | 146.97 | 35.31 | 66.39 | -28.08 | 33.61 | 336.97 | 0.00 | 0 | 12.11 | 5.58 |
| 2016 (3) | 13.37 | 3.08 | -2.39 | 0 | 0.44 | 9.77 | -2.59 | 0 | -2.57 | 0 | -14.63 | 0 | -7.15 | 0 | 2.78 | -8.25 | -2.08 | 0 | 108.62 | 7.19 | 92.31 | -29.67 | 7.69 | 0 | 0.00 | 0 | 11.47 | 17.4 |
| 2015 (2) | 12.97 | -6.01 | -0.69 | 0 | 0.40 | 13.39 | -0.52 | 0 | -0.51 | 0 | -3.12 | 0 | -1.56 | 0 | 3.03 | -0.98 | -0.10 | 0 | 101.33 | 2.99 | 131.25 | 217.19 | -31.25 | 0 | 0.00 | 0 | 9.77 | 1.45 |
| 2014 (1) | 13.80 | 0 | 0.37 | 0 | 0.35 | 36.09 | 0.93 | 0 | 0.93 | 0 | 5.49 | 0 | 2.85 | 0 | 3.06 | -3.16 | 1.35 | -43.75 | 98.39 | 13.47 | 41.38 | -44.23 | 62.07 | 140.52 | 0.00 | 0 | 9.63 | 0.1 |
