- 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) | 30.19 | 15.71 | 31.6 | -4.69 | 84.74 | 50.79 | -15.83 | 76.05 | 41.74 | -16.86 | 75.01 | 24.9 | -3.39 | 71.54 | 19.86 | -1.53 | 75.94 | 46.13 | 0.10 | 0.0 | -23.08 | -4.00 | 91.27 | 77.19 | 92.37 | 1.01 | 104.72 | 25.00 | -46.67 | -25.0 | 75.00 | 41.18 | 12.5 | 25.66 | -19.74 | 41.53 |
| 23Q3 (19) | 26.09 | 0.93 | 21.58 | -30.73 | -239.93 | -135.84 | -66.10 | -4960.29 | -13870.83 | -67.48 | -3648.89 | -2771.49 | -11.91 | -3208.33 | -2877.5 | -6.36 | -3433.33 | -3247.37 | 0.10 | -23.08 | -16.67 | -45.83 | -543.23 | -497.14 | 91.45 | 23.07 | 107.79 | 46.88 | 109.38 | 0 | 53.12 | -91.15 | 0 | 31.97 | 62.86 | 58.58 |
| 23Q2 (18) | 25.85 | 8.39 | -14.6 | -9.04 | -3.91 | -140.43 | 1.36 | 115.47 | 115.87 | -1.80 | 85.95 | -131.41 | -0.36 | 84.21 | -131.58 | -0.18 | 88.16 | -121.18 | 0.13 | 8.33 | 0.0 | 10.34 | 438.54 | 5.08 | 74.31 | 76.51 | 55.59 | -500.00 | -725.0 | 0 | 600.00 | 0 | 0 | 19.63 | -9.33 | 5.99 |
| 23Q1 (17) | 23.85 | 3.97 | 31.99 | -8.70 | 8.71 | 56.1 | -8.79 | 67.65 | -57.53 | -12.81 | 42.94 | -23.29 | -2.28 | 46.1 | 16.79 | -1.52 | 46.48 | -7.04 | 0.12 | -7.69 | -20.0 | 1.92 | 110.95 | -63.5 | 42.10 | -6.69 | -21.25 | 80.00 | 140.0 | -78.18 | -0.00 | -100.0 | 100.0 | 21.65 | 19.42 | 17.47 |
| 22Q4 (16) | 22.94 | 6.9 | 10.55 | -9.53 | 26.86 | -105.83 | -27.17 | -5760.42 | -158.02 | -22.45 | -855.32 | -99.56 | -4.23 | -957.5 | 32.64 | -2.84 | -1394.74 | -10.94 | 0.13 | 8.33 | -45.83 | -17.54 | -251.99 | -1180.29 | 45.12 | 2.52 | -66.7 | 33.33 | 0 | -11.11 | 66.67 | 0 | 33.33 | 18.13 | -10.07 | 35.91 |
| 22Q3 (15) | 21.46 | -29.1 | 2.43 | -13.03 | -246.54 | -548.26 | 0.48 | -23.81 | 113.15 | -2.35 | -141.01 | -65.49 | -0.40 | -135.09 | 47.37 | -0.19 | -122.35 | -11.76 | 0.12 | -7.69 | -50.0 | 11.54 | 17.28 | 176.74 | 44.01 | -7.85 | -65.31 | 0.00 | 0 | -100.0 | 0.00 | 0 | -100.0 | 20.16 | 8.86 | 37.7 |
| 22Q2 (14) | 30.27 | 67.52 | -12.97 | -3.76 | 81.03 | -152.15 | 0.63 | 111.29 | -89.5 | 5.73 | 155.15 | 137.76 | 1.14 | 141.61 | -21.38 | 0.85 | 159.86 | 25.0 | 0.13 | -13.33 | -40.91 | 9.84 | 87.07 | -27.54 | 47.76 | -10.66 | -59.46 | 0.00 | -100.0 | -100.0 | 0.00 | 100.0 | 100.0 | 18.52 | 0.49 | 49.72 |
| 22Q1 (13) | 18.07 | -12.92 | -3.11 | -19.82 | -328.08 | 36.68 | -5.58 | 47.01 | 85.75 | -10.39 | 7.64 | 76.9 | -2.74 | 56.37 | 84.85 | -1.42 | 44.53 | 76.49 | 0.15 | -37.5 | 7.14 | 5.26 | 483.94 | 120.69 | 53.46 | -60.54 | -75.4 | 366.67 | 877.78 | 343.86 | -266.67 | -633.33 | -1326.67 | 18.43 | 38.16 | -45.89 |
| 21Q4 (12) | 20.75 | -0.95 | 30.91 | -4.63 | -130.35 | 92.94 | -10.53 | -188.49 | 93.31 | -11.25 | -692.25 | 92.85 | -6.28 | -726.32 | 87.14 | -2.56 | -1405.88 | 88.04 | 0.24 | 0.0 | 71.43 | -1.37 | -132.85 | 99.06 | 135.48 | 6.78 | -22.09 | 37.50 | 12.5 | -10.51 | 50.00 | 50.0 | -13.93 | 13.34 | -8.88 | -64.91 |
| 21Q3 (11) | 20.95 | -39.76 | 149.11 | -2.01 | -127.88 | 95.48 | -3.65 | -160.83 | 95.29 | -1.42 | -158.92 | 98.13 | -0.76 | -152.41 | 94.92 | -0.17 | -125.0 | 97.78 | 0.24 | 9.09 | 140.0 | 4.17 | -69.29 | 106.6 | 126.88 | 7.7 | 28.24 | 33.33 | -72.22 | -41.33 | 33.33 | 266.67 | -22.81 | 14.64 | 18.35 | -30.05 |
| 21Q2 (10) | 34.78 | 86.49 | 48.63 | 7.21 | 123.04 | 131.68 | 6.00 | 115.32 | 118.82 | 2.41 | 105.36 | 107.58 | 1.45 | 108.02 | 122.41 | 0.68 | 111.26 | 120.3 | 0.22 | 57.14 | 100.0 | 13.58 | 153.42 | 168.93 | 117.81 | -45.79 | 35.62 | 120.00 | 45.26 | 68.0 | -20.00 | -192.0 | -170.0 | 12.37 | -63.68 | 0 |
| 21Q1 (9) | 18.65 | 17.67 | 91.87 | -31.30 | 52.28 | -6037.25 | -39.17 | 75.13 | -186.54 | -44.98 | 71.43 | -135.99 | -18.08 | 62.99 | -536.62 | -6.04 | 71.79 | -344.12 | 0.14 | 0.0 | 75.0 | -25.42 | 82.52 | -1371.0 | 217.34 | 24.98 | 144.67 | 82.61 | 97.13 | 0 | 21.74 | -62.58 | -78.26 | 34.06 | -10.42 | 0 |
| 20Q4 (8) | 15.85 | 88.47 | 275.14 | -65.59 | -47.59 | 10.43 | -157.49 | -103.37 | -67.13 | -157.43 | -107.04 | -83.83 | -48.85 | -226.54 | -210.36 | -21.41 | -179.14 | -142.19 | 0.14 | 40.0 | 40.0 | -145.45 | -130.29 | -52.06 | 173.90 | 75.76 | 73.21 | 41.90 | -26.25 | -45.52 | 58.10 | 34.54 | 169.73 | 38.02 | 81.65 | 26.61 |
| 20Q3 (7) | 8.41 | -64.06 | 133.65 | -44.44 | -95.25 | 58.11 | -77.44 | -142.91 | -130.02 | -76.04 | -139.27 | -129.48 | -14.96 | -131.22 | -126.87 | -7.67 | -128.96 | -134.23 | 0.10 | -9.09 | 11.11 | -63.16 | -220.61 | -122.75 | 98.94 | 13.89 | 32.08 | 56.82 | -20.45 | 237.31 | 43.18 | 51.14 | -69.33 | 20.93 | 0 | -4.12 |
| 20Q2 (6) | 23.40 | 140.74 | 311.76 | -22.76 | -4362.75 | 68.77 | -31.88 | -133.21 | 56.53 | -31.78 | -66.74 | 56.66 | -6.47 | -127.82 | 75.19 | -3.35 | -146.32 | 58.18 | 0.11 | 37.5 | 0.0 | -19.70 | -1085.0 | 67.17 | 86.87 | -2.21 | -70.31 | 71.43 | 0 | -27.47 | 28.57 | -71.43 | 0 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 9.72 | 207.4 | -56.49 | -0.51 | 99.3 | 79.35 | -13.67 | 85.49 | -143.67 | -19.06 | 77.74 | -239.75 | -2.84 | 81.96 | -51.87 | -1.36 | 84.62 | -134.48 | 0.08 | -20.0 | -46.67 | 2.00 | 102.09 | -68.0 | 88.83 | -11.52 | -43.6 | 0.00 | -100.0 | -100.0 | 100.00 | 364.29 | 66.67 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | -9.05 | 63.79 | 0.0 | -73.23 | 30.98 | 0.0 | -94.23 | -136.53 | 0.0 | -85.64 | -133.2 | 0.0 | -15.74 | -128.27 | 0.0 | -8.84 | -139.45 | 0.0 | 0.10 | 11.11 | 0.0 | -95.65 | -134.45 | 0.0 | 100.40 | 34.03 | 0.0 | 76.92 | 285.9 | 0.0 | 21.54 | -84.7 | 0.0 | 30.03 | 37.56 | 0.0 |
| 19Q3 (3) | -24.99 | -126.15 | 0.0 | -106.10 | -45.58 | 0.0 | 257.92 | 451.73 | 0.0 | 257.92 | 451.73 | 0.0 | 55.68 | 313.5 | 0.0 | 22.41 | 379.78 | 0.0 | 0.09 | -18.18 | 0.0 | 277.61 | 562.68 | 0.0 | 74.91 | -74.4 | 0.0 | -41.38 | -142.02 | 0.0 | 140.80 | 0 | 0.0 | 21.83 | -14.76 | 0.0 |
| 19Q2 (2) | -11.05 | -149.46 | 0.0 | -72.88 | -2850.61 | 0.0 | -73.33 | -1207.13 | 0.0 | -73.33 | -1207.13 | 0.0 | -26.08 | -1294.65 | 0.0 | -8.01 | -1281.03 | 0.0 | 0.11 | -26.67 | 0.0 | -60.00 | -1060.0 | 0.0 | 292.63 | 85.79 | 0.0 | 98.48 | 146.21 | 0.0 | 0.00 | -100.0 | 0.0 | 25.61 | 71.65 | 0.0 |
| 19Q1 (1) | 22.34 | 0.0 | 0.0 | -2.47 | 0.0 | 0.0 | -5.61 | 0.0 | 0.0 | -5.61 | 0.0 | 0.0 | -1.87 | 0.0 | 0.0 | -0.58 | 0.0 | 0.0 | 0.15 | 0.0 | 0.0 | 6.25 | 0.0 | 0.0 | 157.51 | 0.0 | 0.0 | 40.00 | 0.0 | 0.0 | 60.00 | 0.0 | 0.0 | 14.92 | 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) | 26.46 | 13.32 | -12.88 | 0 | 10.58 | 19.52 | -20.83 | 0 | -23.27 | 0 | -17.90 | 0 | -10.18 | 0 | 0.46 | -26.98 | -8.65 | 0 | 92.37 | 104.72 | 62.79 | -56.53 | 37.21 | 0 | 0.00 | 0 | 24.43 | 30.09 |
| 2022 (9) | 23.35 | -4.11 | -11.37 | 0 | 8.85 | 9.66 | -7.91 | 0 | -7.22 | 0 | -7.79 | 0 | -4.07 | 0 | 0.63 | -19.23 | 2.21 | 0 | 45.12 | -66.7 | 144.44 | 146.41 | -44.44 | 0 | 0.00 | 0 | 18.78 | 6.16 |
| 2021 (8) | 24.35 | 63.86 | -6.13 | 0 | 8.07 | -35.44 | -10.03 | 0 | -11.87 | 0 | -23.73 | 0 | -8.68 | 0 | 0.78 | 81.4 | -1.05 | 0 | 135.48 | -22.09 | 58.62 | 23.52 | 37.93 | -27.81 | 0.00 | 0 | 17.69 | -42.82 |
| 2020 (7) | 14.86 | 0 | -35.10 | 0 | 12.50 | 34.17 | -73.67 | 0 | -74.43 | 0 | -70.92 | 0 | -31.28 | 0 | 0.43 | -18.87 | -60.00 | 0 | 173.90 | 73.21 | 47.46 | 0 | 52.54 | -91.24 | 0.00 | 0 | 30.94 | 37.02 |
| 2019 (6) | -3.61 | 0 | -58.96 | 0 | 9.32 | 331.23 | 11.74 | 0 | 13.58 | 0 | 13.85 | 0 | 7.64 | 0 | 0.53 | -22.06 | 22.36 | 0 | 100.40 | 21.14 | -500.00 | 0 | 600.00 | 0 | 0.00 | 0 | 22.58 | -4.81 |
| 2018 (5) | 16.78 | 0.84 | -16.24 | 0 | 2.16 | -34.92 | -15.34 | 0 | -11.06 | 0 | -16.18 | 0 | -10.49 | 0 | 0.68 | 25.93 | -12.65 | 0 | 82.88 | 186.48 | 106.00 | 52.38 | -6.00 | 0 | 1.90 | 0 | 23.72 | -6.58 |
| 2017 (4) | 16.64 | -4.64 | -13.18 | 0 | 3.32 | -55.52 | -19.25 | 0 | 6.64 | 0 | -15.40 | 0 | -10.42 | 0 | 0.54 | 25.58 | -14.94 | 0 | 28.93 | -58.73 | 69.57 | 28.43 | 32.61 | -28.85 | 0.00 | 0 | 25.39 | 2.34 |
| 2016 (3) | 17.45 | 268.92 | -14.57 | 0 | 7.46 | 42.99 | -26.96 | 0 | -89.00 | 0 | -18.05 | 0 | -11.69 | 0 | 0.43 | -41.1 | -18.66 | 0 | 70.10 | 51.57 | 54.17 | -49.37 | 45.83 | 0 | 0.00 | 0 | 24.81 | 17.75 |
| 2015 (2) | 4.73 | -34.4 | -25.73 | 0 | 5.22 | 25.63 | -24.04 | 0 | -22.65 | 0 | -22.38 | 0 | -16.23 | 0 | 0.73 | -3.95 | -17.85 | 0 | 46.25 | 81.8 | 106.99 | -6.05 | -6.99 | 0 | 0.00 | 0 | 21.07 | 10.95 |
| 2014 (1) | 7.21 | 0 | -12.17 | 0 | 4.15 | -6.77 | -10.75 | 0 | -11.36 | 0 | -10.87 | 0 | -8.55 | 0 | 0.76 | -9.52 | -6.23 | 0 | 25.44 | -2.45 | 113.89 | 0 | -13.89 | 0 | 0.00 | 0 | 18.99 | -28.66 |
