- 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) | 12.38 | -15.32 | -22.53 | -1.80 | -170.59 | 91.71 | -1.41 | -181.5 | 92.91 | -1.73 | -200.0 | 91.3 | -2.36 | -190.08 | 76.61 | -0.75 | -172.12 | 82.44 | 0.49 | -9.26 | 122.73 | -0.35 | -113.21 | 97.94 | 178.49 | 3.37 | 35.55 | 125.00 | -14.06 | 13.64 | -25.00 | 45.0 | -150.0 | 8.38 | 19.71 | -61.61 |
| 23Q3 (19) | 14.62 | -3.56 | -41.54 | 2.55 | -26.51 | 143.22 | 1.73 | -57.18 | 324.68 | 1.73 | -56.86 | 324.68 | 2.62 | -56.62 | 755.0 | 1.04 | -53.98 | 5300.0 | 0.54 | 1.89 | 145.45 | 2.65 | -46.03 | 14.72 | 172.67 | -8.88 | 37.48 | 145.45 | 67.27 | -81.82 | -45.45 | -448.48 | 93.51 | 7.00 | 2.94 | -65.65 |
| 23Q2 (18) | 15.16 | 11.63 | -41.94 | 3.47 | 906.98 | 210.16 | 4.04 | 164.05 | 107.18 | 4.01 | 162.09 | 105.64 | 6.04 | 268.29 | 542.55 | 2.26 | 193.51 | 352.0 | 0.53 | 26.19 | 178.95 | 4.91 | 77.26 | -7.53 | 189.49 | 10.05 | 20.21 | 86.96 | 360.87 | 143.48 | 13.04 | -88.82 | -95.65 | 6.80 | -18.56 | -63.62 |
| 23Q1 (17) | 13.58 | -15.02 | -52.08 | -0.43 | 98.02 | 99.2 | 1.53 | 107.7 | 102.93 | 1.53 | 107.7 | 102.93 | 1.64 | 116.25 | 119.07 | 0.77 | 118.03 | 121.63 | 0.42 | 90.91 | 500.0 | 2.77 | 116.3 | 106.52 | 172.19 | 30.76 | 15.5 | -33.33 | -130.3 | -133.33 | 116.67 | 1266.67 | 2550.0 | 8.35 | -61.75 | -84.7 |
| 22Q4 (16) | 15.98 | -36.11 | 12.61 | -21.71 | -267.97 | 59.69 | -19.88 | -2481.82 | 64.58 | -19.88 | -2481.82 | 66.45 | -10.09 | -2422.5 | 34.65 | -4.27 | -21250.0 | 35.69 | 0.22 | 0.0 | 100.0 | -16.99 | -835.5 | 64.76 | 131.68 | 4.84 | 12.23 | 110.00 | -86.25 | 17.33 | -10.00 | 98.57 | -420.0 | 21.83 | 7.11 | -46.7 |
| 22Q3 (15) | 25.01 | -4.21 | -19.35 | -5.90 | -87.3 | 93.73 | -0.77 | -139.49 | 99.12 | -0.77 | -139.49 | 99.12 | -0.40 | -142.55 | 96.3 | -0.02 | -104.0 | 99.54 | 0.22 | 15.79 | 340.0 | 2.31 | -56.5 | 103.32 | 125.60 | -20.32 | -11.81 | 800.00 | 500.0 | 663.64 | -700.00 | -333.33 | -7250.0 | 20.38 | 9.04 | -72.62 |
| 22Q2 (14) | 26.11 | -7.87 | 2.96 | -3.15 | 94.17 | 88.61 | 1.95 | 103.73 | 113.36 | 1.95 | 103.73 | 113.35 | 0.94 | 110.93 | 121.41 | 0.50 | 114.04 | 129.94 | 0.19 | 171.43 | 58.33 | 5.31 | 112.49 | 176.96 | 157.63 | 5.74 | 13.46 | -200.00 | -300.0 | -200.0 | 300.00 | 6400.0 | 400.0 | 18.69 | -65.74 | -37.78 |
| 22Q1 (13) | 28.34 | 99.72 | 70.52 | -54.03 | -0.32 | -50.17 | -52.28 | 6.86 | -114.97 | -52.28 | 11.76 | -114.97 | -8.60 | 44.3 | -12.27 | -3.56 | 46.39 | -17.49 | 0.07 | -36.36 | -46.15 | -42.50 | 11.84 | -159.3 | 149.08 | 27.06 | -1.5 | 100.00 | 6.67 | -31.82 | -4.76 | -252.38 | 89.8 | 54.56 | 33.2 | 69.28 |
| 21Q4 (12) | 14.19 | -54.24 | 136.11 | -53.86 | 42.76 | -74.47 | -56.13 | 35.95 | -1199.31 | -59.25 | 32.39 | -837.5 | -15.44 | -42.83 | -336.16 | -6.64 | -51.95 | -388.24 | 0.11 | 120.0 | -54.17 | -48.21 | 30.7 | -2854.86 | 117.33 | -17.62 | -14.85 | 93.75 | -10.51 | -86.61 | 3.12 | 132.81 | 100.52 | 40.96 | -44.97 | 131.94 |
| 21Q3 (11) | 31.01 | 22.28 | 75.79 | -94.09 | -240.17 | -679.54 | -87.64 | -500.27 | -722.91 | -87.64 | -499.86 | -722.91 | -10.81 | -146.24 | -62.07 | -4.37 | -161.68 | -54.42 | 0.05 | -58.33 | -81.48 | -69.57 | -908.26 | -1065.33 | 142.42 | 2.51 | 4.5 | 104.76 | -47.62 | -8.33 | -9.52 | 90.48 | 33.33 | 74.43 | 147.77 | 371.08 |
| 21Q2 (10) | 25.36 | 52.59 | 16.71 | -27.66 | 23.12 | 8.8 | -14.60 | 39.97 | 67.71 | -14.61 | 39.93 | 69.5 | -4.39 | 42.69 | 61.93 | -1.67 | 44.88 | 69.02 | 0.12 | -7.69 | 9.09 | -6.90 | 57.9 | 78.15 | 138.93 | -8.21 | 11.93 | 200.00 | 36.36 | 205.88 | -100.00 | -114.29 | -425.0 | 30.04 | -6.79 | 0 |
| 21Q1 (9) | 16.62 | 176.54 | 1.34 | -35.98 | -16.55 | -12.68 | -24.32 | -462.96 | 1.78 | -24.32 | -284.81 | 1.78 | -7.66 | -116.38 | 31.73 | -3.03 | -122.79 | 46.28 | 0.13 | -45.83 | -43.48 | -16.39 | -1036.57 | 1.68 | 151.35 | 9.83 | 48.18 | 146.67 | -79.05 | 15.79 | -46.67 | 92.22 | -55.56 | 32.23 | 82.5 | 0 |
| 20Q4 (8) | 6.01 | -65.93 | -70.73 | -30.87 | -155.76 | -233.37 | -4.32 | 59.44 | 40.41 | -6.32 | 40.66 | 6.65 | -3.54 | 46.93 | 41.0 | -1.36 | 51.94 | 54.82 | 0.24 | -11.11 | -46.67 | 1.75 | 129.31 | 150.0 | 137.80 | 1.11 | 49.98 | 700.00 | 512.5 | 454.17 | -600.00 | -4100.0 | -2180.0 | 17.66 | 11.77 | 0 |
| 20Q3 (7) | 17.64 | -18.82 | -5.21 | -12.07 | 60.2 | -16.51 | -10.65 | 76.45 | -27.39 | -10.65 | 77.77 | -27.39 | -6.67 | 42.15 | -5.71 | -2.83 | 47.5 | 9.58 | 0.27 | 145.45 | -28.95 | -5.97 | 81.1 | -40.14 | 136.29 | 9.81 | 38.34 | 114.29 | 74.79 | -4.76 | -14.29 | -146.43 | 42.86 | 15.80 | 0 | 7.92 |
| 20Q2 (6) | 21.73 | 32.5 | 34.47 | -30.33 | 5.01 | -310.42 | -45.22 | -82.63 | -1011.06 | -47.90 | -93.46 | -1076.9 | -11.53 | -2.76 | -239.12 | -5.39 | 4.43 | -224.7 | 0.11 | -52.17 | -73.81 | -31.58 | -89.44 | -4226.03 | 124.12 | 21.52 | 25.55 | 65.38 | -48.38 | -64.04 | 30.77 | 202.56 | 137.61 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 16.40 | -20.12 | -28.63 | -31.93 | -244.82 | -386.74 | -24.76 | -241.52 | -2551.49 | -24.76 | -265.73 | -2458.1 | -11.22 | -87.0 | -1826.15 | -5.64 | -87.38 | -1546.15 | 0.23 | -48.89 | -28.12 | -16.67 | -376.29 | -413.94 | 102.14 | 11.17 | 7.47 | 126.67 | 0.28 | 118.1 | -30.00 | -14.0 | -103.75 | 0.00 | 0 | -100.0 |
| 19Q4 (4) | 20.53 | 10.32 | 0.0 | -9.26 | 10.62 | 0.0 | -7.25 | 13.28 | 0.0 | -6.77 | 19.02 | 0.0 | -6.00 | 4.91 | 0.0 | -3.01 | 3.83 | 0.0 | 0.45 | 18.42 | 0.0 | -3.50 | 17.84 | 0.0 | 91.88 | -6.74 | 0.0 | 126.32 | 5.26 | 0.0 | -26.32 | -5.26 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 18.61 | 15.16 | 0.0 | -10.36 | -40.19 | 0.0 | -8.36 | -105.41 | 0.0 | -8.36 | -105.41 | 0.0 | -6.31 | -85.59 | 0.0 | -3.13 | -88.55 | 0.0 | 0.38 | -9.52 | 0.0 | -4.26 | -483.56 | 0.0 | 98.52 | -0.34 | 0.0 | 120.00 | -34.0 | 0.0 | -25.00 | 69.44 | 0.0 | 14.64 | 18.83 | 0.0 |
| 19Q2 (2) | 16.16 | -29.68 | 0.0 | -7.39 | -12.65 | 0.0 | -4.07 | -502.97 | 0.0 | -4.07 | -487.62 | 0.0 | -3.40 | -623.08 | 0.0 | -1.66 | -525.64 | 0.0 | 0.42 | 31.25 | 0.0 | -0.73 | -113.75 | 0.0 | 98.86 | 4.02 | 0.0 | 181.82 | 125.97 | 0.0 | -81.82 | -110.23 | 0.0 | 12.32 | -26.97 | 0.0 |
| 19Q1 (1) | 22.98 | 0.0 | 0.0 | -6.56 | 0.0 | 0.0 | 1.01 | 0.0 | 0.0 | 1.05 | 0.0 | 0.0 | 0.65 | 0.0 | 0.0 | 0.39 | 0.0 | 0.0 | 0.32 | 0.0 | 0.0 | 5.31 | 0.0 | 0.0 | 95.04 | 0.0 | 0.0 | -700.00 | 0.0 | 0.0 | 800.00 | 0.0 | 0.0 | 16.87 | 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) | 13.99 | -37.63 | 1.13 | 0 | 0.60 | -79.71 | 1.47 | 0 | 1.37 | 0 | 7.84 | 0 | 3.53 | 0 | 2.21 | 234.85 | 2.47 | 0 | 178.49 | 35.55 | 75.00 | -43.18 | 21.88 | 0 | 0.34 | 33.33 | 7.54 | -68.01 |
| 2022 (9) | 22.43 | 11.09 | -15.13 | 0 | 2.98 | -54.59 | -11.47 | 0 | -11.47 | 0 | -17.03 | 0 | -7.04 | 0 | 0.66 | 69.23 | -7.57 | 0 | 131.68 | 12.23 | 132.00 | 10.0 | -32.00 | 0 | 0.26 | -29.51 | 23.57 | -39.66 |
| 2021 (8) | 20.19 | 37.25 | -45.50 | 0 | 6.57 | 46.86 | -38.00 | 0 | -38.89 | 0 | -34.15 | 0 | -14.63 | 0 | 0.39 | -53.57 | -28.79 | 0 | 117.33 | -14.85 | 120.00 | -15.89 | -20.00 | 0 | 0.37 | -42.11 | 39.06 | 81.17 |
| 2020 (7) | 14.71 | -24.02 | -25.15 | 0 | 4.47 | 107.14 | -17.54 | 0 | -18.44 | 0 | -32.72 | 0 | -15.21 | 0 | 0.84 | -48.47 | -10.35 | 0 | 137.80 | 49.98 | 142.67 | -18.23 | -42.67 | 0 | 0.63 | -71.79 | 21.56 | 52.26 |
| 2019 (6) | 19.36 | 14.9 | -8.43 | 0 | 2.16 | 73.02 | -4.87 | 0 | -4.73 | 0 | -15.07 | 0 | -7.49 | 0 | 1.63 | 13.99 | -1.03 | 0 | 91.88 | -6.03 | 174.47 | 102.02 | -74.47 | 0 | 2.24 | -45.52 | 14.16 | 0.07 |
| 2018 (5) | 16.85 | 33.62 | -7.93 | 0 | 1.25 | 27.96 | -9.11 | 0 | -9.01 | 0 | -23.15 | 0 | -12.62 | 0 | 1.43 | -4.03 | -6.24 | 0 | 97.78 | 48.17 | 86.36 | -19.39 | 12.50 | 0 | 4.11 | 0 | 14.15 | 9.18 |
| 2017 (4) | 12.61 | 0.0 | -7.33 | 0 | 0.97 | -9.92 | -6.82 | 0 | -6.48 | 0 | -17.45 | 0 | -9.22 | 0 | 1.49 | -1.97 | -4.87 | 0 | 65.99 | -28.81 | 107.14 | 35.99 | -7.14 | 0 | 0.00 | 0 | 12.96 | 19.45 |
| 2016 (3) | 12.61 | -4.83 | -3.33 | 0 | 1.08 | 47.67 | -4.19 | 0 | -4.16 | 0 | -12.26 | 0 | -5.70 | 0 | 1.52 | -16.94 | -2.42 | 0 | 92.70 | -3.03 | 78.79 | -81.82 | 21.21 | 0 | 0.00 | 0 | 10.85 | 18.84 |
| 2015 (2) | 13.25 | -10.89 | -0.75 | 0 | 0.73 | 30.93 | -0.18 | 0 | -0.53 | 0 | -1.64 | 0 | -0.58 | 0 | 1.83 | -12.02 | 0.96 | -76.24 | 95.60 | 115.51 | 433.33 | 485.0 | -333.33 | 0 | 0.00 | 0 | 9.13 | 7.67 |
| 2014 (1) | 14.87 | 0 | 2.49 | 0 | 0.56 | 4.24 | 3.38 | 0 | 2.92 | 0 | 9.56 | 0 | 6.26 | 0 | 2.08 | -11.11 | 4.04 | -7.34 | 44.36 | -41.16 | 74.07 | -13.32 | 25.93 | 78.24 | 0.00 | 0 | 8.48 | 8.58 |
