- 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) | 15.16 | 4111.11 | 786.55 | -40.41 | -104.4 | -249.27 | -33.25 | -21.53 | -169.67 | -18.80 | 33.78 | -440.58 | -29.03 | 40.85 | -355.32 | -2.15 | -0.94 | -241.45 | 0.14 | 40.0 | -41.67 | -24.68 | -104.98 | -174.83 | 672.16 | -66.38 | -3.66 | 123.08 | 75.82 | 31.28 | -21.15 | -179.33 | -438.46 | 15.90 | -8.15 | 127.14 |
| 23Q3 (19) | 0.36 | 101.18 | 100.2 | -19.77 | 59.47 | 90.44 | -27.36 | 50.18 | 87.23 | -28.39 | 45.2 | 86.75 | -49.08 | 15.1 | 51.89 | -2.13 | 62.5 | 89.14 | 0.10 | -9.09 | 11.11 | -12.04 | 75.72 | 94.13 | 1999.16 | 47.62 | 151.72 | 70.00 | -21.83 | -27.33 | 26.67 | 123.33 | 625.93 | 17.31 | -11.68 | -49.31 |
| 23Q2 (18) | -30.39 | -272.97 | -434.32 | -48.78 | -627.35 | -2020.47 | -54.92 | -914.84 | -13176.19 | -51.81 | -1195.35 | -10673.47 | -57.81 | -889.75 | -11217.31 | -5.68 | -585.47 | -2203.7 | 0.11 | -45.0 | -59.26 | -49.59 | -536.15 | -1699.68 | 1354.28 | 100.5 | 364.32 | 89.55 | -37.31 | -82.09 | 11.94 | 133.43 | 102.99 | 19.60 | 59.74 | 112.12 |
| 23Q1 (17) | 17.57 | 927.49 | 84.95 | 9.25 | 179.95 | 105.56 | 6.74 | 154.66 | 190.52 | 4.73 | -14.31 | 64.81 | 7.32 | -35.62 | 53.14 | 1.17 | -23.03 | 0.86 | 0.20 | -16.67 | -42.86 | 11.37 | 226.61 | 160.18 | 675.46 | -3.18 | 125.57 | 142.86 | 52.38 | -28.57 | -35.71 | -671.43 | 61.04 | 12.27 | 75.29 | 96.01 |
| 22Q4 (16) | 1.71 | 100.96 | 115.66 | -11.57 | 94.4 | 51.12 | -12.33 | 94.24 | 71.4 | 5.52 | 102.58 | 107.8 | 11.37 | 111.15 | 118.82 | 1.52 | 107.75 | 111.28 | 0.24 | 166.67 | 26.32 | -8.98 | 95.63 | 76.75 | 697.66 | -12.15 | 50.67 | 93.75 | -2.67 | 70.23 | 6.25 | 70.14 | -86.09 | 7.00 | -79.5 | -56.39 |
| 22Q3 (15) | -178.15 | -2059.85 | -6772.28 | -206.75 | -8239.76 | -2064.92 | -214.21 | -51102.38 | -1149.77 | -214.21 | -43816.33 | -1182.69 | -102.01 | -19717.31 | -798.77 | -19.62 | -7366.67 | -541.18 | 0.09 | -66.67 | -52.63 | -205.26 | -6721.29 | -1636.55 | 794.19 | 172.29 | 188.35 | 96.33 | -80.73 | 71.58 | 3.67 | 100.92 | -91.62 | 34.15 | 269.59 | 190.64 |
| 22Q2 (14) | 9.09 | -4.32 | -6.0 | 2.54 | -43.56 | 20.38 | 0.42 | -81.9 | 5.0 | 0.49 | -82.93 | 200.0 | 0.52 | -89.12 | 196.3 | 0.27 | -76.72 | 1450.0 | 0.27 | -22.86 | -18.18 | 3.10 | -29.06 | -12.92 | 291.67 | -2.6 | 24.55 | 500.00 | 150.0 | -9.09 | -400.00 | -336.36 | 11.11 | 9.24 | 47.6 | 24.03 |
| 22Q1 (13) | 9.50 | 187.0 | 42.22 | 4.50 | 119.01 | 228.21 | 2.32 | 105.38 | 148.13 | 2.87 | 104.06 | 148.98 | 4.78 | 107.91 | 195.03 | 1.16 | 108.61 | 182.27 | 0.35 | 84.21 | 34.62 | 4.37 | 111.31 | 480.0 | 299.45 | -35.33 | 31.85 | 200.00 | 263.16 | 180.0 | -91.67 | -304.03 | -420.83 | 6.26 | -61.0 | -36.64 |
| 21Q4 (12) | -10.92 | -508.99 | -246.77 | -23.67 | -147.85 | -336.72 | -43.11 | -151.52 | -472.51 | -70.73 | -323.53 | -923.59 | -60.43 | -432.42 | -898.84 | -13.48 | -340.52 | -587.76 | 0.19 | 0.0 | -36.67 | -38.63 | -226.82 | -851.48 | 463.03 | 68.11 | 99.14 | 55.07 | -1.9 | -22.9 | 44.93 | 2.43 | 57.25 | 16.05 | 36.6 | 32.64 |
| 21Q3 (11) | 2.67 | -72.39 | -64.78 | -9.55 | -552.61 | -60.77 | -17.14 | -4385.0 | -115.06 | -16.70 | -3308.16 | -86.38 | -11.35 | -2001.85 | -101.96 | -3.06 | -15200.0 | -42.99 | 0.19 | -42.42 | -24.0 | -11.82 | -432.02 | -281.29 | 275.43 | 17.61 | 76.76 | 56.14 | -89.79 | -25.15 | 43.86 | 109.75 | 75.44 | 11.75 | 57.72 | -4.94 |
| 21Q2 (10) | 9.67 | 44.76 | 4.31 | 2.11 | 160.11 | 195.48 | 0.40 | 108.3 | 141.67 | -0.49 | 91.64 | 24.62 | -0.54 | 89.26 | -20.0 | -0.02 | 98.58 | 75.0 | 0.33 | 26.92 | 22.22 | 3.56 | 409.57 | -2.73 | 234.18 | 3.11 | 54.77 | 550.00 | 670.0 | 144.44 | -450.00 | -1675.0 | -260.0 | 7.45 | -24.6 | 0 |
| 21Q1 (9) | 6.68 | -10.22 | -40.14 | -3.51 | 35.24 | -178.57 | -4.82 | 35.99 | -58.55 | -5.86 | 15.2 | -3155.56 | -5.03 | 16.86 | -4091.67 | -1.41 | 28.06 | -2450.0 | 0.26 | -13.33 | 0.0 | -1.15 | 71.67 | -215.0 | 227.12 | -2.32 | 44.84 | 71.43 | 0.0 | 71.43 | 28.57 | 0.0 | -51.02 | 9.88 | -18.35 | -9.11 |
| 20Q4 (8) | 7.44 | -1.85 | 117.1 | -5.42 | 8.75 | 92.03 | -7.53 | 5.52 | 88.65 | -6.91 | 22.88 | 88.29 | -6.05 | -7.65 | 73.39 | -1.96 | 8.41 | 79.73 | 0.30 | 20.0 | 76.47 | -4.06 | -30.97 | 93.15 | 232.51 | 49.22 | 51.17 | 71.43 | -4.76 | -30.59 | 28.57 | 14.29 | 1328.57 | 12.10 | -2.1 | -8.4 |
| 20Q3 (7) | 7.58 | -18.23 | 252.52 | -5.94 | -168.78 | 76.79 | -7.97 | -730.21 | 60.95 | -8.96 | -1278.46 | 55.02 | -5.62 | -1148.89 | 14.98 | -2.14 | -2575.0 | 28.67 | 0.25 | -7.41 | 56.25 | -3.10 | -184.7 | 77.78 | 155.82 | 2.98 | 37.0 | 75.00 | -66.67 | -39.77 | 25.00 | 120.0 | 201.92 | 12.36 | 0 | -35.96 |
| 20Q2 (6) | 9.27 | -16.94 | 51.97 | -2.21 | -75.4 | 88.0 | -0.96 | 68.42 | 93.24 | -0.65 | -261.11 | 95.49 | -0.45 | -275.0 | 89.41 | -0.08 | -233.33 | 95.65 | 0.27 | 3.85 | 92.86 | 3.66 | 266.0 | 155.37 | 151.31 | -3.51 | 33.04 | 225.00 | 440.0 | 73.86 | -125.00 | -314.29 | -325.0 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 11.16 | 125.64 | -19.6 | -1.26 | 98.15 | 79.07 | -3.04 | 95.42 | 48.82 | -0.18 | 99.69 | 90.95 | -0.12 | 99.47 | 83.33 | 0.06 | 100.62 | 125.0 | 0.26 | 52.94 | 52.94 | 1.00 | 101.69 | 202.04 | 156.81 | 1.95 | 35.75 | 41.67 | -59.51 | -58.33 | 58.33 | 2608.33 | 0 | 10.87 | -17.71 | -27.53 |
| 19Q4 (4) | -43.52 | -775.65 | 0.0 | -68.00 | -165.73 | 0.0 | -66.36 | -225.13 | 0.0 | -59.01 | -196.23 | 0.0 | -22.74 | -244.02 | 0.0 | -9.67 | -222.33 | 0.0 | 0.17 | 6.25 | 0.0 | -59.23 | -324.59 | 0.0 | 153.81 | 35.23 | 0.0 | 102.91 | -17.36 | 0.0 | -2.33 | 90.52 | 0.0 | 13.21 | -31.55 | 0.0 |
| 19Q3 (3) | -4.97 | -181.48 | 0.0 | -25.59 | -38.93 | 0.0 | -20.41 | -43.73 | 0.0 | -19.92 | -38.14 | 0.0 | -6.61 | -55.53 | 0.0 | -3.00 | -63.04 | 0.0 | 0.16 | 14.29 | 0.0 | -13.95 | -111.04 | 0.0 | 113.74 | 0.01 | 0.0 | 124.53 | -3.77 | 0.0 | -24.53 | 16.6 | 0.0 | 19.30 | 7.82 | 0.0 |
| 19Q2 (2) | 6.10 | -56.05 | 0.0 | -18.42 | -205.98 | 0.0 | -14.20 | -139.06 | 0.0 | -14.42 | -624.62 | 0.0 | -4.25 | -490.28 | 0.0 | -1.84 | -666.67 | 0.0 | 0.14 | -17.65 | 0.0 | -6.61 | -574.49 | 0.0 | 113.73 | -1.54 | 0.0 | 129.41 | 29.41 | 0.0 | -29.41 | 0 | 0.0 | 17.90 | 19.33 | 0.0 |
| 19Q1 (1) | 13.88 | 0.0 | 0.0 | -6.02 | 0.0 | 0.0 | -5.94 | 0.0 | 0.0 | -1.99 | 0.0 | 0.0 | -0.72 | 0.0 | 0.0 | -0.24 | 0.0 | 0.0 | 0.17 | 0.0 | 0.0 | -0.98 | 0.0 | 0.0 | 115.51 | 0.0 | 0.0 | 100.00 | 0.0 | 0.0 | -0.00 | 0.0 | 0.0 | 15.00 | 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) | 4.03 | 0 | -20.89 | 0 | 4.00 | 76.97 | -22.52 | 0 | -18.98 | 0 | -78.93 | 0 | -8.59 | 0 | 0.53 | -47.0 | -14.83 | 0 | 672.16 | -3.66 | 92.59 | 4.57 | 7.41 | -35.31 | 0.33 | -30.82 | 15.63 | 59.65 |
| 2022 (9) | -8.89 | 0 | -18.11 | 0 | 2.26 | -14.9 | -20.46 | 0 | -16.65 | 0 | -106.22 | 0 | -15.96 | 0 | 1.00 | 0.0 | -17.30 | 0 | 697.66 | 50.67 | 88.55 | 70.72 | 11.45 | -75.98 | 0.48 | 21.07 | 9.79 | -8.33 |
| 2021 (8) | 3.36 | -61.99 | -6.88 | 0 | 2.66 | -11.49 | -13.20 | 0 | -19.16 | 0 | -78.68 | 0 | -18.54 | 0 | 1.00 | -0.99 | -9.20 | 0 | 463.03 | 99.14 | 51.87 | -31.97 | 47.66 | 100.69 | 0.39 | -83.46 | 10.68 | -8.33 |
| 2020 (7) | 8.84 | 0 | -3.71 | 0 | 3.00 | -30.53 | -4.88 | 0 | -4.13 | 0 | -12.10 | 0 | -3.81 | 0 | 1.01 | 57.81 | -0.67 | 0 | 232.51 | 51.17 | 76.25 | -30.73 | 23.75 | 0 | 2.38 | -41.78 | 11.65 | -28.35 |
| 2019 (6) | -6.45 | 0 | -28.70 | 0 | 4.32 | 157.78 | -26.06 | 0 | -23.06 | 0 | -34.10 | 0 | -14.34 | 0 | 0.64 | -15.79 | -19.62 | 0 | 153.81 | 36.25 | 110.07 | 117.22 | -10.07 | 0 | 4.09 | -5.06 | 16.26 | 22.16 |
| 2018 (5) | 6.94 | -25.38 | -8.57 | 0 | 1.68 | 73.7 | -16.98 | 0 | -12.61 | 0 | -19.09 | 0 | -9.12 | 0 | 0.76 | -20.0 | -14.47 | 0 | 112.89 | 28.28 | 50.67 | -71.29 | 49.33 | 0 | 4.31 | 803.04 | 13.31 | 35.13 |
| 2017 (4) | 9.30 | 44.86 | 1.90 | -3.55 | 0.96 | 13.95 | 1.10 | -9.09 | 3.36 | 295.29 | 6.74 | 169.6 | 3.55 | 126.11 | 0.95 | -22.76 | 2.57 | -1.15 | 88.00 | -38.2 | 176.47 | 10.92 | -70.59 | 0 | 0.48 | 0 | 9.85 | 26.77 |
| 2016 (3) | 6.42 | 134.31 | 1.97 | 0 | 0.85 | -5.19 | 1.21 | 0 | 0.85 | 0 | 2.50 | 0 | 1.57 | 0 | 1.23 | 36.67 | 2.60 | 0 | 142.39 | 4.08 | 159.09 | 71.33 | -59.09 | 0 | 0.00 | 0 | 7.77 | -35.47 |
| 2015 (2) | 2.74 | -72.98 | -4.67 | 0 | 0.89 | 85.2 | -4.96 | 0 | -4.62 | 0 | -8.93 | 0 | -3.74 | 0 | 0.90 | -30.77 | -3.48 | 0 | 136.81 | 43.11 | 92.86 | -13.78 | 5.36 | 0 | 0.00 | 0 | 12.04 | 23.23 |
| 2014 (1) | 10.14 | 0 | 2.90 | 0 | 0.48 | -46.65 | 2.68 | 0 | 2.29 | 0 | 6.05 | 0 | 3.44 | 0 | 1.30 | 80.56 | 3.65 | 0 | 95.60 | -16.8 | 107.69 | 7.69 | -7.69 | 0 | 0.00 | 0 | 9.77 | -17.97 |
