- 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) | 57.27 | 9.15 | 135.18 | -149.39 | -627.31 | 58.93 | -170.34 | -1036.36 | 63.91 | -213.75 | -1105.58 | 56.87 | -14.81 | -1057.03 | -2.07 | -8.86 | -1202.94 | 8.09 | 0.04 | -20.0 | 100.0 | -154.72 | -16016.67 | 64.97 | 70.64 | 18.54 | 30.19 | 87.66 | -36.8 | 13.68 | 12.34 | 133.27 | -46.33 | 20.63 | -13.21 | 34.49 |
| 23Q3 (19) | 52.47 | -0.06 | 12.77 | -20.54 | 87.98 | 90.81 | -14.99 | 90.57 | 92.59 | -17.73 | 89.24 | 91.34 | -1.28 | 77.46 | 73.39 | -0.68 | 80.57 | 78.88 | 0.05 | 150.0 | 150.0 | -0.96 | 99.26 | 99.43 | 59.59 | -0.03 | 34.3 | 138.71 | 29.23 | 25.65 | -37.10 | -385.23 | -256.93 | 23.77 | -55.25 | -66.64 |
| 23Q2 (18) | 52.50 | 10.29 | 55.65 | -170.90 | -16.07 | 6.59 | -158.98 | -1.38 | 17.3 | -164.83 | -2.44 | 14.07 | -5.68 | -35.56 | -7.98 | -3.50 | -34.62 | 6.91 | 0.02 | 0.0 | 0.0 | -130.10 | -7.22 | 19.68 | 59.61 | 9.44 | 28.61 | 107.34 | 14.44 | 12.86 | -7.65 | -223.28 | -256.3 | 53.12 | -21.45 | -25.2 |
| 23Q1 (17) | 47.60 | 129.24 | -15.38 | -147.24 | 59.52 | -291.49 | -156.82 | 66.77 | -306.27 | -160.90 | 67.53 | -301.45 | -4.19 | 71.12 | -38.74 | -2.60 | 73.03 | -11.59 | 0.02 | 0.0 | -66.67 | -121.34 | 72.53 | -342.52 | 54.47 | 0.39 | 107.74 | 93.80 | 21.65 | -3.62 | 6.20 | -73.03 | 131.94 | 67.63 | 340.87 | 134.74 |
| 22Q4 (16) | -162.81 | -449.9 | -340.59 | -363.71 | -62.73 | -909.32 | -471.97 | -133.41 | -1182.75 | -495.61 | -142.13 | -1288.23 | -14.51 | -201.66 | -193.67 | -9.64 | -199.38 | -182.46 | 0.02 | 0.0 | -92.86 | -441.67 | -162.62 | -1058.28 | 54.26 | 22.29 | 96.59 | 77.11 | -30.15 | -25.18 | 23.00 | 321.27 | 852.55 | 15.34 | -78.47 | 49.8 |
| 22Q3 (15) | 46.53 | 37.95 | -29.59 | -223.51 | -22.17 | -634.2 | -202.21 | -5.19 | -572.9 | -204.69 | -6.71 | -575.14 | -4.81 | 8.56 | -139.72 | -3.22 | 14.36 | -138.61 | 0.02 | 0.0 | -89.47 | -168.18 | -3.83 | -460.05 | 44.37 | -4.27 | 11.82 | 110.39 | 16.07 | 12.87 | -10.39 | -312.48 | -573.29 | 71.25 | 0.32 | 564.03 |
| 22Q2 (14) | 33.73 | -40.04 | -22.16 | -182.95 | -386.44 | 35.99 | -192.24 | -398.03 | -30.78 | -191.81 | -378.57 | -22.03 | -5.26 | -74.17 | 12.91 | -3.76 | -61.37 | 8.29 | 0.02 | -66.67 | -33.33 | -161.98 | -490.74 | -39.64 | 46.35 | 76.77 | -13.54 | 95.11 | -2.28 | -51.11 | 4.89 | 82.93 | 105.17 | 71.02 | 146.51 | -4.62 |
| 22Q1 (13) | 56.25 | -16.88 | 19.5 | -37.61 | -183.69 | 74.0 | -38.60 | -188.55 | 51.39 | -40.08 | -196.09 | 53.14 | -3.02 | -119.5 | 13.96 | -2.33 | -119.93 | 6.8 | 0.06 | -78.57 | 100.0 | -27.42 | -159.49 | 45.16 | 26.22 | -5.0 | -29.06 | 97.33 | -5.56 | -46.81 | 2.67 | 187.5 | 103.25 | 28.81 | 181.35 | -54.02 |
| 21Q4 (12) | 67.67 | 2.41 | 31.25 | 44.94 | 7.41 | 130.13 | 43.59 | 1.94 | 135.59 | 41.71 | -3.18 | 137.41 | 15.49 | 27.91 | 363.44 | 11.69 | 40.17 | 412.57 | 0.28 | 47.37 | 833.33 | 46.09 | -1.33 | 151.82 | 27.60 | -30.44 | -24.88 | 103.06 | 5.37 | -15.45 | -3.06 | -239.16 | 86.04 | 10.24 | -4.57 | -82.84 |
| 21Q3 (11) | 66.08 | 52.5 | 58.09 | 41.84 | 114.64 | 125.62 | 42.76 | 129.09 | 126.08 | 43.08 | 127.41 | 126.94 | 12.11 | 300.5 | 232.93 | 8.34 | 303.41 | 267.47 | 0.19 | 533.33 | 533.33 | 46.71 | 140.27 | 137.86 | 39.68 | -25.98 | -49.87 | 97.80 | -49.73 | -1.81 | 2.20 | 102.32 | 455.57 | 10.73 | -85.59 | -87.81 |
| 21Q2 (10) | 43.33 | -7.95 | 4.21 | -285.81 | -97.56 | -86.41 | -147.00 | -85.14 | 5.96 | -157.18 | -83.77 | -1.49 | -6.04 | -72.08 | 22.27 | -4.10 | -64.0 | 4.43 | 0.03 | 0.0 | 0.0 | -116.00 | -132.0 | -3.44 | 53.61 | 45.05 | -31.31 | 194.55 | 6.32 | 98.17 | -94.55 | -14.87 | -5276.75 | 74.46 | 18.83 | 0 |
| 21Q1 (9) | 47.07 | -8.71 | 43.81 | -144.67 | 3.02 | -17.15 | -79.40 | 35.17 | 40.61 | -85.53 | 23.29 | 34.7 | -3.51 | 40.31 | 43.02 | -2.50 | 33.16 | 25.15 | 0.03 | 0.0 | 0.0 | -50.00 | 43.79 | 42.04 | 36.96 | 0.6 | -50.05 | 182.99 | 50.13 | 97.68 | -82.31 | -276.06 | -1208.06 | 62.66 | 5.03 | 0 |
| 20Q4 (8) | 51.56 | 23.35 | -4.89 | -149.17 | 8.66 | -10.55 | -122.47 | 25.31 | 45.47 | -111.50 | 30.28 | 48.76 | -5.88 | 35.46 | 57.02 | -3.74 | 24.9 | 51.68 | 0.03 | 0.0 | -25.0 | -88.95 | 27.91 | 53.02 | 36.74 | -53.58 | -53.98 | 121.89 | 22.37 | 102.79 | -21.89 | -5637.77 | -154.87 | 59.66 | -32.2 | 0 |
| 20Q3 (7) | 41.80 | 0.53 | 22.12 | -163.32 | -6.52 | -3.86 | -163.97 | -4.9 | 6.2 | -159.93 | -3.26 | 6.93 | -9.11 | -17.25 | -34.37 | -4.98 | -16.08 | -26.4 | 0.03 | 0.0 | 50.0 | -123.38 | -10.02 | -3.6 | 79.15 | 1.41 | 16.64 | 99.60 | 1.46 | 10.48 | 0.40 | -78.36 | -95.99 | 87.99 | 0 | 3.26 |
| 20Q2 (6) | 41.58 | 27.04 | -22.56 | -153.32 | -24.16 | -42.81 | -156.31 | -16.92 | -344.19 | -154.88 | -18.24 | -473.03 | -7.77 | -26.14 | -159.0 | -4.29 | -28.44 | -153.85 | 0.03 | 0.0 | -25.0 | -112.14 | -30.0 | -9445.0 | 78.05 | 5.47 | 21.05 | 98.17 | 6.05 | -68.01 | 1.83 | -75.41 | 100.88 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 32.73 | -39.62 | -6.62 | -123.49 | 8.48 | 27.74 | -133.69 | 40.48 | 23.49 | -130.99 | 39.8 | 29.88 | -6.16 | 54.97 | 2.84 | -3.34 | 56.85 | 12.11 | 0.03 | -25.0 | 50.0 | -86.26 | 54.44 | 26.85 | 74.00 | -7.3 | 12.89 | 92.57 | 54.02 | -5.39 | 7.43 | -81.38 | 245.43 | 0.00 | 0 | -100.0 |
| 19Q4 (4) | 54.21 | 58.37 | 0.0 | -134.93 | 14.19 | 0.0 | -224.61 | -28.5 | 0.0 | -217.60 | -26.63 | 0.0 | -13.68 | -101.77 | 0.0 | -7.74 | -96.45 | 0.0 | 0.04 | 100.0 | 0.0 | -189.35 | -59.0 | 0.0 | 79.83 | 17.64 | 0.0 | 60.10 | -33.33 | 0.0 | 39.90 | 305.25 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 34.23 | -36.25 | 0.0 | -157.25 | -46.47 | 0.0 | -174.80 | -396.73 | 0.0 | -171.84 | -513.87 | 0.0 | -6.78 | -126.0 | 0.0 | -3.94 | -133.14 | 0.0 | 0.02 | -50.0 | 0.0 | -119.09 | -10024.17 | 0.0 | 67.86 | 5.24 | 0.0 | 90.16 | -70.62 | 0.0 | 9.84 | 104.76 | 0.0 | 85.21 | 46.91 | 0.0 |
| 19Q2 (2) | 53.69 | 53.18 | 0.0 | -107.36 | 37.18 | 0.0 | -35.19 | 79.86 | 0.0 | 41.52 | 122.23 | 0.0 | -3.00 | 52.68 | 0.0 | -1.69 | 55.53 | 0.0 | 0.04 | 100.0 | 0.0 | 1.20 | 101.02 | 0.0 | 64.48 | -1.63 | 0.0 | 306.90 | 213.64 | 0.0 | -206.90 | -9720.69 | 0.0 | 58.00 | -37.43 | 0.0 |
| 19Q1 (1) | 35.05 | 0.0 | 0.0 | -170.89 | 0.0 | 0.0 | -174.74 | 0.0 | 0.0 | -186.80 | 0.0 | 0.0 | -6.34 | 0.0 | 0.0 | -3.80 | 0.0 | 0.0 | 0.02 | 0.0 | 0.0 | -117.92 | 0.0 | 0.0 | 65.55 | 0.0 | 0.0 | 97.85 | 0.0 | 0.0 | 2.15 | 0.0 | 0.0 | 92.69 | 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) | 53.32 | 543.96 | -106.51 | 0 | 14.51 | -13.45 | -110.46 | 0 | -126.98 | 0 | -25.64 | 0 | -15.40 | 0 | 0.13 | 8.33 | -90.24 | 0 | 70.64 | 30.19 | 96.40 | 8.32 | 3.60 | -67.3 | 1.25 | 10.85 | 34.20 | -16.46 |
| 2022 (9) | 8.28 | -87.27 | -157.87 | 0 | 16.76 | 298.41 | -177.34 | 0 | -182.92 | 0 | -29.95 | 0 | -20.90 | 0 | 0.12 | -78.18 | -155.49 | 0 | 54.26 | 96.59 | 89.00 | 28.14 | 11.00 | -63.99 | 1.13 | -25.15 | 40.94 | 159.94 |
| 2021 (8) | 65.05 | 51.88 | 20.12 | 0 | 4.21 | -85.99 | 28.98 | 0 | 27.30 | 0 | 19.60 | 0 | 15.13 | 0 | 0.55 | 400.0 | 34.52 | 0 | 27.60 | -24.88 | 69.45 | -32.98 | 30.55 | 0 | 1.51 | -40.36 | 15.75 | -78.34 |
| 2020 (7) | 42.83 | -7.63 | -148.19 | 0 | 30.03 | -6.87 | -142.96 | 0 | -137.66 | 0 | -23.59 | 0 | -14.97 | 0 | 0.11 | -8.33 | -102.11 | 0 | 36.74 | -53.98 | 103.64 | 11.25 | -3.64 | 0 | 2.54 | -32.35 | 72.72 | 3.28 |
| 2019 (6) | 46.37 | 58.37 | -138.02 | 0 | 32.25 | -23.7 | -148.06 | 0 | -124.55 | 0 | -29.38 | 0 | -17.00 | 0 | 0.12 | 33.33 | -103.80 | 0 | 79.83 | 41.67 | 93.15 | -4.16 | 6.72 | 139.61 | 3.75 | -21.31 | 70.41 | -26.91 |
| 2018 (5) | 29.28 | -14.34 | -187.19 | 0 | 42.26 | 15.9 | -192.60 | 0 | -208.04 | 0 | -26.15 | 0 | -16.56 | 0 | 0.09 | 0.0 | -134.89 | 0 | 56.35 | 7.56 | 97.19 | 5.3 | 2.81 | -63.57 | 4.76 | 0 | 96.33 | 9.02 |
| 2017 (4) | 34.18 | 28.26 | -157.02 | 0 | 36.46 | 36.31 | -170.23 | 0 | -170.13 | 0 | -23.19 | 0 | -15.78 | 0 | 0.09 | 0.0 | -118.56 | 0 | 52.39 | 44.29 | 92.30 | 14.94 | 7.70 | -60.69 | 0.00 | 0 | 88.36 | -19.48 |
| 2016 (3) | 26.65 | 6.05 | -187.63 | 0 | 26.75 | 5.55 | -233.44 | 0 | -223.22 | 0 | -25.50 | 0 | -18.97 | 0 | 0.09 | 12.5 | -190.75 | 0 | 36.31 | 22.09 | 80.30 | -19.91 | 19.59 | 0 | 0.00 | 0 | 109.74 | -0.05 |
| 2015 (2) | 25.13 | -7.81 | -207.13 | 0 | 25.34 | 84.86 | -206.53 | 0 | -181.47 | 0 | -18.50 | 0 | -14.53 | 0 | 0.08 | -20.0 | -168.87 | 0 | 29.74 | 35.3 | 100.27 | 27.44 | -0.27 | 0 | 0.00 | 0 | 109.79 | 27.83 |
| 2014 (1) | 27.26 | 0 | -198.40 | 0 | 13.71 | -56.49 | -252.19 | 0 | -206.46 | 0 | -22.83 | 0 | -19.65 | 0 | 0.10 | 233.33 | -227.96 | 0 | 21.98 | 197.43 | 78.68 | -27.98 | 21.32 | 0 | 0.00 | 0 | 85.89 | -59.98 |
