- 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) | 63.54 | 231.8 | 73.28 | 54.70 | 195.3 | 95.5 | -22.12 | -363.65 | 6.11 | -17.49 | -340.58 | 10.4 | -15.47 | -345.56 | 39.78 | -0.46 | -355.56 | 14.81 | 0.03 | 50.0 | 0.0 | -20.41 | -298.73 | 6.93 | 3113.56 | -7.34 | -32.19 | -247.28 | 63.86 | -108.18 | 347.27 | -55.72 | 58.73 | 7.43 | -9.72 | 31.27 |
| 23Q3 (19) | -48.21 | -84.36 | 43.63 | -57.40 | -59.18 | 39.32 | 8.39 | 236.2 | 417.9 | 7.27 | 277.32 | 70.26 | 6.30 | 287.5 | 23.77 | 0.18 | 300.0 | 63.64 | 0.02 | 0.0 | 0.0 | 10.27 | 351.1 | 202.06 | 3360.02 | -7.21 | -28.01 | -684.24 | -216.78 | 88.31 | 784.24 | 261.39 | -86.82 | 8.23 | -11.22 | 8.72 |
| 23Q2 (18) | -26.15 | -260.53 | 69.77 | -36.06 | -477.2 | 62.79 | -6.16 | 20.31 | 9.28 | -4.10 | 25.99 | 61.93 | -3.36 | 53.07 | 60.61 | -0.09 | 47.06 | 57.14 | 0.02 | -33.33 | 0.0 | -4.09 | 34.66 | 10.31 | 3621.27 | 2.06 | -24.39 | 585.92 | 573.83 | -58.98 | -485.92 | -317.26 | 63.42 | 9.27 | 44.62 | -0.75 |
| 23Q1 (17) | 16.29 | -55.58 | 139.87 | 9.56 | -65.83 | 119.76 | -7.73 | 67.19 | -28.19 | -5.54 | 71.62 | 19.12 | -7.16 | 72.13 | -15.3 | -0.17 | 68.52 | 15.0 | 0.03 | 0.0 | 0.0 | -6.26 | 71.45 | -39.42 | 3548.08 | -22.73 | 11.02 | -123.66 | -4.1 | -115.41 | 223.66 | 2.23 | 131.83 | 6.41 | 13.25 | -11.71 |
| 22Q4 (16) | 36.67 | 142.87 | 185.15 | 27.98 | 129.58 | 283.29 | -23.56 | -1554.32 | -6644.44 | -19.52 | -557.14 | -12300.0 | -25.69 | -604.72 | -15211.76 | -0.54 | -590.91 | -5500.0 | 0.03 | 50.0 | 0.0 | -21.93 | -745.0 | -1382.46 | 4591.69 | -1.62 | 57.16 | -118.78 | 97.97 | -105.84 | 218.77 | -96.32 | 111.3 | 5.66 | -25.23 | -11.7 |
| 22Q3 (15) | -85.53 | 1.11 | -42665.0 | -94.59 | 2.4 | -854.49 | 1.62 | 123.86 | 165.59 | 4.27 | 139.65 | 348.26 | 5.09 | 159.67 | 503.97 | 0.11 | 152.38 | 375.0 | 0.02 | 0.0 | 0.0 | 3.40 | 174.56 | 657.38 | 4667.13 | -2.55 | 56.7 | -5852.45 | -509.75 | -1558.83 | 5952.45 | 548.13 | 2076.42 | 7.57 | -18.95 | -2.7 |
| 22Q2 (14) | -86.49 | -111.67 | -436.67 | -96.92 | -100.37 | -619.4 | -6.79 | -12.6 | -178.28 | -10.77 | -57.23 | -509.51 | -8.53 | -37.36 | -421.89 | -0.21 | -5.0 | -333.33 | 0.02 | -33.33 | -33.33 | -4.56 | -1.56 | -310.81 | 4789.40 | 49.86 | 71.11 | 1428.29 | 77.97 | 286.77 | -1328.29 | -89.07 | -253.59 | 9.34 | 28.65 | 60.48 |
| 22Q1 (13) | -40.86 | -417.73 | -425.06 | -48.37 | -762.6 | -867.78 | -6.03 | -1775.0 | -228.85 | -6.85 | -4381.25 | -298.55 | -6.21 | -3752.94 | -258.82 | -0.20 | -2100.0 | -242.86 | 0.03 | 0.0 | -25.0 | -4.49 | -362.57 | -176.23 | 3195.94 | 9.38 | 13.69 | 802.55 | -60.58 | 496.34 | -702.55 | 63.71 | -1931.66 | 7.26 | 13.26 | 29.18 |
| 21Q4 (12) | 12.86 | 6530.0 | -45.76 | 7.30 | 173.66 | -62.43 | 0.36 | 114.57 | -82.44 | 0.16 | 109.3 | -91.4 | 0.17 | 113.49 | -93.49 | 0.01 | 125.0 | -88.89 | 0.03 | 50.0 | -40.0 | 1.71 | 380.33 | -44.3 | 2921.75 | -1.9 | 3.73 | 2035.67 | 407.43 | 115.15 | -1935.67 | -542.71 | -128.76 | 6.41 | -17.61 | 29.23 |
| 21Q3 (11) | -0.20 | -100.78 | -101.09 | -9.91 | -153.11 | -182.65 | -2.47 | -1.23 | -62.5 | -1.72 | -165.4 | -20.28 | -1.26 | -147.55 | 19.75 | -0.04 | -144.44 | 20.0 | 0.02 | -33.33 | -50.0 | -0.61 | 45.05 | -205.0 | 2978.44 | 6.41 | -0.98 | 401.17 | 152.46 | 150.74 | -301.17 | -134.83 | -133.81 | 7.78 | 33.68 | 36.25 |
| 21Q2 (10) | 25.69 | 104.38 | -33.86 | 18.66 | 196.19 | -42.48 | -2.44 | -152.14 | -183.56 | 2.63 | -23.77 | 16.89 | 2.65 | -32.23 | -3.64 | 0.09 | -35.71 | 0.0 | 0.03 | -25.0 | -25.0 | -1.11 | -118.85 | -126.68 | 2798.98 | -0.43 | -0.34 | -764.73 | -668.23 | -168.77 | 864.81 | 2600.88 | 185.45 | 5.82 | 3.56 | 0 |
| 21Q1 (9) | 12.57 | -46.98 | 160.99 | 6.30 | -67.58 | 122.22 | 4.68 | 128.29 | 77.27 | 3.45 | 85.48 | 63.51 | 3.91 | 49.81 | 79.36 | 0.14 | 55.56 | 100.0 | 0.04 | -20.0 | 33.33 | 5.89 | 91.86 | 41.59 | 2811.01 | -0.2 | -14.73 | 134.58 | -85.78 | 112.55 | -34.58 | 95.91 | -102.95 | 5.62 | 13.31 | 0 |
| 20Q4 (8) | 23.71 | 29.0 | -23.66 | 19.43 | 62.05 | -24.16 | 2.05 | 234.87 | -18.97 | 1.86 | 230.07 | -38.21 | 2.61 | 266.24 | -46.84 | 0.09 | 280.0 | -43.75 | 0.05 | 25.0 | 0.0 | 3.07 | 1635.0 | -14.48 | 2816.65 | -6.36 | -0.37 | 946.15 | 219.66 | -6.46 | -846.15 | -195.0 | 7.17 | 4.96 | -13.13 | 0 |
| 20Q3 (7) | 18.38 | -52.68 | 20.45 | 11.99 | -63.04 | 37.66 | -1.52 | -152.05 | -128.1 | -1.43 | -163.56 | -133.89 | -1.57 | -157.09 | -127.79 | -0.05 | -155.56 | -129.41 | 0.04 | 0.0 | 0.0 | -0.20 | -104.81 | -102.97 | 3007.82 | 7.09 | -2.64 | -790.71 | -171.11 | -591.15 | 890.71 | 188.01 | 1560.41 | 5.71 | 0 | -7.31 |
| 20Q2 (6) | 38.84 | 288.45 | 1665.45 | 32.44 | 214.43 | 750.1 | 2.92 | 10.61 | -48.32 | 2.25 | 6.64 | -59.96 | 2.75 | 26.15 | -58.96 | 0.09 | 28.57 | -55.0 | 0.04 | 33.33 | 0.0 | 4.16 | 0.0 | -41.82 | 2808.57 | -14.8 | -14.17 | 1112.01 | 203.69 | 1360.18 | -1012.01 | -186.32 | -637.61 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | -20.61 | -166.36 | -234.18 | -28.35 | -210.66 | -369.74 | 2.64 | 4.35 | 613.51 | 2.11 | -29.9 | 379.55 | 2.18 | -55.6 | 153.49 | 0.07 | -56.25 | 133.33 | 0.03 | -40.0 | -40.0 | 4.16 | 15.88 | 190.91 | 3296.48 | 16.6 | 1.44 | -1072.49 | -206.03 | -137.58 | 1172.40 | 228.63 | 142.57 | 0.00 | 0 | -100.0 |
| 19Q4 (4) | 31.06 | 103.54 | 0.0 | 25.62 | 194.14 | 0.0 | 2.53 | -53.23 | 0.0 | 3.01 | -28.67 | 0.0 | 4.91 | -13.1 | 0.0 | 0.16 | -5.88 | 0.0 | 0.05 | 25.0 | 0.0 | 3.59 | -46.66 | 0.0 | 2827.18 | -8.48 | 0.0 | 1011.53 | 528.32 | 0.0 | -911.47 | -1394.45 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 15.26 | 593.64 | 0.0 | 8.71 | 274.55 | 0.0 | 5.41 | -4.25 | 0.0 | 4.22 | -24.91 | 0.0 | 5.65 | -15.67 | 0.0 | 0.17 | -15.0 | 0.0 | 0.04 | 0.0 | 0.0 | 6.73 | -5.87 | 0.0 | 3089.26 | -5.59 | 0.0 | 160.99 | 282.44 | 0.0 | -60.99 | -132.4 | 0.0 | 6.16 | -15.15 | 0.0 |
| 19Q2 (2) | 2.20 | -85.68 | 0.0 | -4.99 | -147.48 | 0.0 | 5.65 | 1427.03 | 0.0 | 5.62 | 1177.27 | 0.0 | 6.70 | 679.07 | 0.0 | 0.20 | 566.67 | 0.0 | 0.04 | -20.0 | 0.0 | 7.15 | 400.0 | 0.0 | 3272.32 | 0.7 | 0.0 | -88.24 | -103.09 | 0.0 | 188.24 | 106.84 | 0.0 | 7.26 | 37.24 | 0.0 |
| 19Q1 (1) | 15.36 | 0.0 | 0.0 | 10.51 | 0.0 | 0.0 | 0.37 | 0.0 | 0.0 | 0.44 | 0.0 | 0.0 | 0.86 | 0.0 | 0.0 | 0.03 | 0.0 | 0.0 | 0.05 | 0.0 | 0.0 | 1.43 | 0.0 | 0.0 | 3249.69 | 0.0 | 0.0 | 2854.08 | 0.0 | 0.0 | -2754.08 | 0.0 | 0.0 | 5.29 | 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) | 4.42 | 0 | -4.11 | 0 | 1.51 | -4.17 | -7.34 | 0 | -5.32 | 0 | -21.30 | 0 | -0.55 | 0 | 0.11 | 10.0 | -5.59 | 0 | 3113.56 | -32.19 | 56.01 | -89.28 | 43.98 | 0 | 0.02 | -1.72 | 7.71 | 5.62 |
| 2022 (9) | -39.21 | 0 | -48.01 | 0 | 1.58 | 25.19 | -9.19 | 0 | -8.42 | 0 | -31.92 | 0 | -0.86 | 0 | 0.10 | -23.08 | -7.43 | 0 | 4591.69 | 57.16 | 522.48 | -73.01 | -422.48 | 0 | 0.02 | 21.81 | 7.30 | 16.24 |
| 2021 (8) | 13.71 | -20.34 | 6.78 | -39.46 | 1.26 | 14.86 | 0.35 | -77.42 | 1.42 | 15.45 | 5.56 | 4.12 | 0.19 | -5.0 | 0.13 | -13.33 | 1.75 | -37.28 | 2921.75 | 3.73 | 1936.07 | 167.47 | -1836.07 | 0 | 0.01 | -7.04 | 6.28 | 3.46 |
| 2020 (7) | 17.21 | -0.86 | 11.20 | -5.96 | 1.10 | 12.68 | 1.55 | -47.99 | 1.23 | -57.44 | 5.34 | -68.83 | 0.20 | -62.96 | 0.15 | -16.67 | 2.79 | -31.95 | 2816.65 | 8.33 | 723.83 | 81.44 | -623.83 | 0 | 0.02 | -10.25 | 6.07 | 4.66 |
| 2019 (6) | 17.36 | 0 | 11.91 | 0 | 0.97 | 84.53 | 2.98 | 0 | 2.89 | 1104.17 | 17.13 | 1123.57 | 0.54 | 980.0 | 0.18 | 0.0 | 4.10 | 736.73 | 2599.97 | -33.94 | 398.94 | -94.71 | -298.95 | 0 | 0.02 | -0.36 | 5.80 | -9.38 |
| 2018 (5) | -6.08 | 0 | -12.36 | 0 | 0.53 | 22.08 | -0.16 | 0 | 0.24 | -83.22 | 1.40 | -84.67 | 0.05 | -85.29 | 0.18 | -21.74 | 0.49 | -77.31 | 3935.94 | 55.86 | 7536.89 | 824.11 | -7436.59 | 0 | 0.02 | 45.93 | 6.40 | 11.89 |
| 2017 (4) | 18.75 | 60.53 | 13.15 | 151.92 | 0.43 | -7.41 | 1.61 | -12.97 | 1.43 | -19.21 | 9.13 | -21.43 | 0.34 | -17.07 | 0.23 | 4.55 | 2.16 | -12.2 | 2525.30 | -9.37 | 815.58 | 188.68 | -715.58 | 0 | 0.01 | 0 | 5.72 | -35.66 |
| 2016 (3) | 11.68 | 148.51 | 5.22 | 0 | 0.47 | 2.07 | 1.85 | -19.21 | 1.77 | 4.12 | 11.62 | 4.78 | 0.41 | 7.89 | 0.22 | 0.0 | 2.46 | -14.88 | 2786.50 | -6.02 | 282.52 | 0 | -182.52 | 0 | 0.00 | 0 | 8.89 | -1.22 |
| 2015 (2) | 4.70 | 66.08 | -2.06 | 0 | 0.46 | -16.74 | 2.29 | 52.67 | 1.70 | 14.09 | 11.09 | 8.2 | 0.38 | 5.56 | 0.22 | -4.35 | 2.89 | 31.96 | 2965.12 | 4.18 | -89.97 | 0 | 189.97 | -46.06 | 0.00 | 0 | 9.00 | 81.82 |
| 2014 (1) | 2.83 | 0 | -3.79 | 0 | 0.55 | 17.24 | 1.50 | 0 | 1.49 | 0 | 10.25 | 0 | 0.36 | 0 | 0.23 | -11.54 | 2.19 | 23.03 | 2846.21 | -3.36 | -252.16 | 0 | 352.16 | 96.35 | 0.00 | 0 | 4.95 | 2.27 |
