- 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) | 32.83 | 2.92 | -8.73 | -80.34 | -438.56 | -370.6 | -87.49 | -307.91 | -415.85 | -121.41 | -419.5 | -996.01 | -5.76 | -236.17 | -178.58 | -3.01 | -220.88 | -197.73 | 0.03 | -57.14 | -76.92 | -77.78 | -269.71 | -351.39 | 86.65 | 13.71 | -51.98 | 91.67 | 64.46 | -13.89 | 8.33 | -80.45 | 229.17 | 67.97 | 405.35 | 465.47 |
| 23Q3 (19) | 31.90 | -1.82 | 299.75 | 23.73 | -9.08 | 383.17 | 42.08 | -1.01 | 46.31 | 38.00 | 12.36 | 31.4 | 4.23 | -24.33 | 66.54 | 2.49 | -20.45 | 90.08 | 0.07 | -22.22 | 75.0 | 45.83 | 0.59 | 20.29 | 76.20 | -11.6 | -38.53 | 55.74 | -9.87 | 300.66 | 42.62 | 11.7 | -66.64 | 13.45 | 104.72 | -2.61 |
| 23Q2 (18) | 32.49 | 0.43 | 312.31 | 26.10 | 1211.56 | 284.71 | 42.51 | -83.02 | 12402.94 | 33.82 | -85.2 | 338.34 | 5.59 | -87.74 | 6311.11 | 3.13 | -84.61 | 3030.0 | 0.09 | 12.5 | 125.0 | 45.56 | -82.11 | 347.98 | 86.20 | -3.79 | -30.51 | 61.84 | 8186.84 | 0 | 38.16 | -61.56 | 0 | 6.57 | -73.64 | -74.24 |
| 23Q1 (17) | 32.35 | -10.06 | 281.94 | 1.99 | -93.3 | 115.87 | 250.38 | 803.9 | 1558.24 | 228.57 | 1586.86 | 808.52 | 45.59 | 521.96 | 2414.21 | 20.34 | 560.39 | 2611.11 | 0.08 | -38.46 | 60.0 | 254.66 | 723.08 | 0 | 89.60 | -50.35 | -15.01 | 0.75 | -99.3 | -98.97 | 99.25 | 1638.43 | 263.93 | 24.92 | 107.32 | 34.56 |
| 22Q4 (16) | 35.97 | 350.75 | 153.13 | 29.69 | 454.3 | 4888.71 | 27.70 | -3.69 | 808.2 | 13.55 | -53.15 | 305.69 | 7.33 | 188.58 | 1257.41 | 3.08 | 135.11 | 710.53 | 0.13 | 225.0 | 62.5 | 30.94 | -18.79 | 138.73 | 180.45 | 45.57 | 58.64 | 106.45 | 483.23 | 419.35 | -6.45 | -105.05 | -104.84 | 12.02 | -12.96 | 1.78 |
| 22Q3 (15) | 7.98 | 1.27 | -22.37 | -8.38 | 40.69 | -34.73 | 28.76 | 8358.82 | 961.08 | 28.92 | 303.81 | 931.03 | 2.54 | 2922.22 | 537.93 | 1.31 | 1210.0 | 1035.71 | 0.04 | 0.0 | -50.0 | 38.10 | 274.63 | 509.6 | 123.96 | -0.06 | 7.83 | -27.78 | 0 | -115.87 | 127.78 | 0 | 270.37 | 13.81 | -45.84 | 0.58 |
| 22Q2 (14) | 7.88 | -6.97 | 229.18 | -14.13 | -12.68 | 50.04 | 0.34 | 101.98 | 101.08 | -14.19 | 56.01 | 54.71 | -0.09 | 95.43 | 97.94 | 0.10 | 112.35 | 105.18 | 0.04 | -20.0 | -42.86 | 10.17 | 0 | 150.85 | 124.04 | 17.65 | 9.11 | 0.00 | -100.0 | -100.0 | 0.00 | -100.0 | -100.0 | 25.50 | 37.69 | 44.23 |
| 22Q1 (13) | 8.47 | -40.39 | 165.05 | -12.54 | -1922.58 | 71.71 | -17.17 | -662.95 | 18.86 | -32.26 | -1065.87 | -686.55 | -1.97 | -464.81 | -494.0 | -0.81 | -313.16 | -318.92 | 0.05 | -37.5 | 25.0 | 0.00 | -100.0 | 100.0 | 105.43 | -7.31 | -3.66 | 72.73 | 318.18 | -63.64 | 27.27 | -79.55 | 125.45 | 18.52 | 56.82 | -35.49 |
| 21Q4 (12) | 14.21 | 38.23 | 546.86 | -0.62 | 90.03 | 97.79 | 3.05 | 191.32 | 105.83 | 3.34 | 195.98 | 106.17 | 0.54 | 193.1 | 110.04 | 0.38 | 371.43 | 116.1 | 0.08 | 0.0 | 60.0 | 12.96 | 107.36 | 136.81 | 113.75 | -1.05 | -3.76 | -33.33 | -119.05 | -161.67 | 133.33 | 277.78 | 190.2 | 11.81 | -13.98 | -22.96 |
| 21Q3 (11) | 10.28 | 268.52 | 126.43 | -6.22 | 78.01 | 54.43 | -3.34 | 89.38 | 86.14 | -3.48 | 88.89 | 85.43 | -0.58 | 86.7 | 82.58 | -0.14 | 92.75 | 90.34 | 0.08 | 14.29 | 14.29 | 6.25 | 131.25 | 153.65 | 114.96 | 1.13 | 1.35 | 175.00 | 94.44 | 212.5 | -75.00 | -850.0 | -270.45 | 13.73 | -22.34 | -28.45 |
| 21Q2 (10) | -6.10 | 53.15 | -139.25 | -28.28 | 36.21 | -272.6 | -31.46 | -48.68 | -18405.88 | -31.33 | -669.64 | -10703.45 | -4.36 | -972.0 | -10800.0 | -1.93 | -621.62 | -1708.33 | 0.07 | 75.0 | 16.67 | -20.00 | -541.03 | -256.62 | 113.68 | 3.88 | 6.41 | 90.00 | -55.0 | 0 | 10.00 | 109.33 | 0 | 17.68 | -38.42 | 0 |
| 21Q1 (9) | -13.02 | -309.43 | -602.7 | -44.33 | -58.32 | -40.6 | -21.16 | 59.57 | 43.06 | 5.50 | 110.17 | 114.12 | 0.50 | 109.29 | 115.87 | 0.37 | 115.68 | 127.61 | 0.04 | -20.0 | 0.0 | -3.12 | 91.14 | 80.66 | 109.43 | -7.42 | 0.02 | 200.00 | 270.0 | 130.0 | -107.14 | -333.19 | -921.43 | 28.71 | 87.28 | 0 |
| 20Q4 (8) | -3.18 | -170.04 | -139.16 | -28.00 | -105.13 | -256.69 | -52.34 | -117.27 | -162.49 | -54.10 | -126.45 | -154.47 | -5.38 | -61.56 | -41.95 | -2.36 | -62.76 | -47.5 | 0.05 | -28.57 | -37.5 | -35.21 | -202.23 | -233.43 | 118.20 | 4.21 | 2.84 | 54.05 | -3.47 | 37.59 | 45.95 | 4.42 | -24.32 | 15.33 | -20.11 | 0 |
| 20Q3 (7) | 4.54 | -70.79 | 25.76 | -13.65 | -79.84 | -32.4 | -24.09 | -14070.59 | -233.66 | -23.89 | -8137.93 | -263.07 | -3.33 | -8225.0 | -139.57 | -1.45 | -1308.33 | -190.0 | 0.07 | 16.67 | -30.0 | -11.65 | -191.23 | -1121.93 | 113.43 | 6.18 | -4.89 | 56.00 | 0 | -59.56 | 44.00 | 0 | 214.4 | 19.19 | 0 | 10.48 |
| 20Q2 (6) | 15.54 | 500.0 | 255.61 | -7.59 | 75.93 | 46.7 | -0.17 | 99.54 | 97.2 | -0.29 | 99.26 | 95.31 | -0.04 | 98.73 | 96.88 | 0.12 | 108.96 | 126.67 | 0.06 | 50.0 | -33.33 | 12.77 | 179.17 | 457.64 | 106.83 | -2.36 | -8.79 | 0.00 | -100.0 | -100.0 | 0.00 | -100.0 | 100.0 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 2.59 | -68.1 | 141.84 | -31.53 | -301.66 | 19.93 | -37.16 | -86.36 | 2.47 | -38.94 | -83.16 | -4.76 | -3.15 | 16.89 | 33.68 | -1.34 | 16.25 | 33.99 | 0.04 | -50.0 | -33.33 | -16.13 | -52.75 | 33.68 | 109.41 | -4.81 | -7.51 | 86.96 | 121.34 | -17.0 | 13.04 | -78.52 | 647.83 | 0.00 | 0 | -100.0 |
| 19Q4 (4) | 8.12 | 124.93 | 0.0 | -7.85 | 23.86 | 0.0 | -19.94 | -176.18 | 0.0 | -21.26 | -223.1 | 0.0 | -3.79 | -172.66 | 0.0 | -1.60 | -220.0 | 0.0 | 0.08 | -20.0 | 0.0 | -10.56 | -1026.32 | 0.0 | 114.94 | -3.62 | 0.0 | 39.29 | -71.63 | 0.0 | 60.71 | 257.86 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 3.61 | -17.39 | 0.0 | -10.31 | 27.6 | 0.0 | -7.22 | -18.75 | 0.0 | -6.58 | -6.47 | 0.0 | -1.39 | -8.59 | 0.0 | -0.50 | -11.11 | 0.0 | 0.10 | 11.11 | 0.0 | 1.14 | -50.22 | 0.0 | 119.26 | 1.82 | 0.0 | 138.46 | -39.08 | 0.0 | -38.46 | 69.78 | 0.0 | 17.37 | -10.14 | 0.0 |
| 19Q2 (2) | 4.37 | 170.6 | 0.0 | -14.24 | 63.84 | 0.0 | -6.08 | 84.04 | 0.0 | -6.18 | 83.37 | 0.0 | -1.28 | 73.05 | 0.0 | -0.45 | 77.83 | 0.0 | 0.09 | 50.0 | 0.0 | 2.29 | 109.42 | 0.0 | 117.13 | -0.99 | 0.0 | 227.27 | 116.94 | 0.0 | -127.27 | -5245.45 | 0.0 | 19.33 | -41.41 | 0.0 |
| 19Q1 (1) | -6.19 | 0.0 | 0.0 | -39.38 | 0.0 | 0.0 | -38.10 | 0.0 | 0.0 | -37.17 | 0.0 | 0.0 | -4.75 | 0.0 | 0.0 | -2.03 | 0.0 | 0.0 | 0.06 | 0.0 | 0.0 | -24.32 | 0.0 | 0.0 | 118.30 | 0.0 | 0.0 | 104.76 | 0.0 | 0.0 | -2.38 | 0.0 | 0.0 | 32.99 | 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) | 32.33 | 38.58 | 7.52 | -31.32 | 1.48 | -64.47 | 91.24 | 438.92 | 77.32 | 1514.2 | 49.19 | 529.03 | 22.70 | 511.86 | 0.27 | 12.5 | 95.73 | 293.63 | 86.65 | -51.98 | 8.35 | -87.2 | 91.85 | 164.08 | 0.00 | 0 | 20.09 | 31.74 |
| 2022 (9) | 23.33 | 600.6 | 10.95 | 0 | 4.18 | -52.16 | 16.93 | 0 | 4.79 | 0 | 7.82 | 0 | 3.71 | 0 | 0.24 | -7.69 | 24.32 | 0 | 180.45 | 58.64 | 65.22 | -54.45 | 34.78 | 0 | 0.00 | 0 | 15.25 | -8.79 |
| 2021 (8) | 3.33 | -40.96 | -16.63 | 0 | 8.73 | -24.19 | -11.61 | 0 | -7.02 | 0 | -3.90 | 0 | -1.28 | 0 | 0.26 | 23.81 | 0.00 | 0 | 113.75 | -3.76 | 143.18 | 99.52 | -43.18 | 0 | 0.07 | -46.34 | 16.72 | -16.36 |
| 2020 (7) | 5.64 | 82.52 | -18.38 | 0 | 11.52 | 58.07 | -25.82 | 0 | -26.51 | 0 | -11.81 | 0 | -4.92 | 0 | 0.21 | -36.36 | -10.61 | 0 | 118.20 | 2.84 | 71.76 | -31.16 | 29.41 | 0 | 0.13 | -26.56 | 19.99 | -2.11 |
| 2019 (6) | 3.09 | 432.76 | -16.22 | 0 | 7.28 | 9.56 | -15.58 | 0 | -15.56 | 0 | -11.26 | 0 | -4.62 | 0 | 0.33 | -5.71 | -5.96 | 0 | 114.94 | -4.73 | 104.26 | -6.91 | -4.26 | 0 | 0.18 | -12.63 | 20.42 | -6.24 |
| 2018 (5) | 0.58 | -95.23 | -22.35 | 0 | 6.65 | 36.74 | -19.91 | 0 | -20.79 | 0 | -16.32 | 0 | -6.85 | 0 | 0.35 | -12.5 | -11.17 | 0 | 120.65 | -1.26 | 112.00 | 27.27 | -12.00 | 0 | 0.20 | 16.71 | 21.78 | 20.66 |
| 2017 (4) | 12.15 | -16.44 | -4.60 | 0 | 4.86 | 19.56 | -5.24 | 0 | -5.93 | 0 | -5.22 | 0 | -1.82 | 0 | 0.40 | -6.98 | 1.27 | -83.29 | 122.19 | 0.43 | 88.00 | 0 | 12.00 | -95.94 | 0.18 | 0 | 18.05 | 12.53 |
| 2016 (3) | 14.54 | 5.44 | -4.04 | 0 | 4.07 | 24.64 | 2.02 | 676.92 | -1.76 | 0 | -1.75 | 0 | -0.24 | 0 | 0.43 | -17.31 | 7.60 | 59.66 | 121.67 | -10.91 | -200.00 | 0 | 295.65 | 31.4 | 0.00 | 0 | 16.04 | 19.79 |
| 2015 (2) | 13.79 | 53.73 | -0.35 | 0 | 3.26 | 3.6 | 0.26 | 0 | 0.01 | 0 | 0.01 | 0 | 0.55 | 0 | 0.52 | -17.46 | 4.76 | 46.46 | 136.57 | -12.05 | -125.00 | 0 | 225.00 | 0 | 0.00 | 0 | 13.39 | -7.78 |
| 2014 (1) | 8.97 | 0 | -2.56 | 0 | 3.15 | -1.81 | -0.88 | 0 | -1.75 | 0 | -2.91 | 0 | -0.59 | 0 | 0.63 | -3.08 | 3.25 | 0 | 155.29 | -8.08 | 288.24 | 106.35 | -188.24 | 0 | 0.00 | 0 | 14.52 | -16.5 |
