- 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) | -2.74 | -185.89 | 86.82 | -22.90 | -82.91 | 46.88 | -29.27 | -228.14 | 59.45 | -29.26 | -219.43 | 59.36 | -20.35 | -132.84 | 29.54 | -5.42 | -222.62 | 49.3 | 0.20 | -4.76 | 33.33 | -19.89 | -8747.83 | 62.37 | 197.34 | -42.69 | 0.37 | 78.18 | -43.95 | 30.52 | 21.82 | 155.27 | -45.59 | 44.61 | 11.72 | -11.38 |
| 23Q3 (19) | 3.19 | -13.08 | 121.8 | -12.52 | -5.12 | 62.95 | -8.92 | -171.12 | 55.8 | -9.16 | -101.76 | 54.09 | -8.74 | -117.96 | -11.05 | -1.68 | -158.46 | 44.55 | 0.21 | 0.0 | 31.25 | 0.23 | -96.42 | 106.28 | 344.36 | -0.1 | 142.66 | 139.47 | -60.95 | -17.07 | -39.47 | 84.65 | 42.11 | 39.93 | -2.2 | -11.05 |
| 23Q2 (18) | 3.67 | 137.18 | -68.2 | -11.91 | 60.07 | -504.57 | -3.29 | 89.62 | -164.38 | -4.54 | 85.93 | -188.16 | -4.01 | 78.74 | -220.42 | -0.65 | 87.48 | -146.43 | 0.21 | 23.53 | -16.0 | 6.43 | 135.88 | -58.25 | 344.71 | 9.92 | 121.31 | 357.14 | 279.7 | 1009.09 | -257.14 | -4428.57 | -284.62 | 40.83 | -16.84 | 16.36 |
| 23Q1 (17) | -9.87 | 52.53 | -210.65 | -29.83 | 30.8 | -375.76 | -31.69 | 56.1 | -522.59 | -32.26 | 55.19 | -484.42 | -18.86 | 34.7 | -468.07 | -5.19 | 51.45 | -363.39 | 0.17 | 13.33 | -22.73 | -17.92 | 66.1 | -394.74 | 313.61 | 59.5 | 83.1 | 94.06 | 57.02 | -23.58 | 5.94 | -85.19 | 125.74 | 49.10 | -2.46 | 28.33 |
| 22Q4 (16) | -20.79 | -42.11 | -251.75 | -43.11 | -27.58 | -1570.93 | -72.18 | -257.68 | -1956.41 | -72.00 | -260.9 | -1799.74 | -28.88 | -266.96 | -1059.84 | -10.69 | -252.81 | -1203.66 | 0.15 | -6.25 | -40.0 | -52.86 | -1344.26 | -830.11 | 196.62 | 38.55 | 20.32 | 59.90 | -64.38 | -20.13 | 40.10 | 158.81 | 60.4 | 50.34 | 12.14 | 37.13 |
| 22Q3 (15) | -14.63 | -226.78 | -224.94 | -33.79 | -1615.23 | -1632.82 | -20.18 | -494.91 | -720.33 | -19.95 | -487.38 | -673.26 | -7.87 | -336.34 | -371.26 | -3.03 | -316.43 | -573.33 | 0.16 | -36.0 | -36.0 | -3.66 | -123.77 | -139.83 | 141.91 | -8.89 | -10.81 | 168.18 | 528.1 | 114.05 | -68.18 | -148.95 | -418.18 | 44.89 | 27.93 | 40.5 |
| 22Q2 (14) | 11.54 | 29.37 | -6.79 | -1.97 | 68.58 | -2088.89 | 5.11 | 200.39 | 257.72 | 5.15 | 193.3 | 257.98 | 3.33 | 200.3 | 256.34 | 1.40 | 225.0 | 308.96 | 0.25 | 13.64 | 0.0 | 15.40 | 153.29 | 80.12 | 155.76 | -9.06 | -4.61 | -39.29 | -131.92 | -846.43 | 139.29 | 703.57 | 47.02 | 35.09 | -8.29 | 10.52 |
| 22Q1 (13) | 8.92 | -34.89 | 6.7 | -6.27 | -143.02 | -16.11 | -5.09 | -45.01 | 0.0 | -5.52 | -45.65 | 2.82 | -3.32 | -33.33 | -2.79 | -1.12 | -36.59 | 1.75 | 0.22 | -12.0 | -4.35 | 6.08 | -16.02 | -30.75 | 171.28 | 4.81 | 11.98 | 123.08 | 64.1 | 18.68 | -23.08 | -192.31 | -211.54 | 38.26 | 4.22 | 12.83 |
| 21Q4 (12) | 13.70 | 16.99 | 26.38 | -2.58 | -32.31 | 58.92 | -3.51 | -42.68 | 76.07 | -3.79 | -46.9 | 76.66 | -2.49 | -49.1 | 74.49 | -0.82 | -82.22 | 72.85 | 0.25 | 0.0 | 25.0 | 7.24 | -21.22 | 285.11 | 163.42 | 2.71 | 8.95 | 75.00 | -4.55 | 75.0 | 25.00 | 16.67 | -56.25 | 36.71 | 14.9 | 1.21 |
| 21Q3 (11) | 11.71 | -5.41 | 22.36 | -1.95 | -2066.67 | 54.33 | -2.46 | 24.07 | -26.8 | -2.58 | 20.86 | -16.22 | -1.67 | 21.6 | 3.47 | -0.45 | 32.84 | -400.0 | 0.25 | 0.0 | 31.58 | 9.19 | 7.49 | -39.5 | 159.11 | -2.55 | -41.77 | 78.57 | 1392.86 | -64.29 | 21.43 | -77.38 | 117.86 | 31.95 | 0.63 | 4.79 |
| 21Q2 (10) | 12.38 | 48.09 | 967.24 | -0.09 | 98.33 | 99.3 | -3.24 | 36.35 | 79.99 | -3.26 | 42.61 | 80.18 | -2.13 | 34.06 | 81.18 | -0.67 | 41.23 | 71.85 | 0.25 | 8.7 | 56.25 | 8.55 | -2.62 | 354.79 | 163.28 | 6.75 | -52.29 | 5.26 | -94.92 | -93.38 | 94.74 | 1378.95 | 361.84 | 31.75 | -6.37 | 3.29 |
| 21Q1 (9) | 8.36 | -22.88 | 182.77 | -5.40 | 14.01 | 80.3 | -5.09 | 65.3 | 80.84 | -5.68 | 65.02 | 78.68 | -3.23 | 66.91 | 75.42 | -1.14 | 62.25 | 66.57 | 0.23 | 15.0 | 76.92 | 8.78 | 367.02 | 304.19 | 152.96 | 1.98 | -52.17 | 103.70 | 141.98 | 0.82 | -7.41 | -112.96 | -159.26 | 33.91 | -6.51 | -7.83 |
| 20Q4 (8) | 10.84 | 13.27 | 29.67 | -6.28 | -47.07 | -912.9 | -14.67 | -656.19 | -43.96 | -16.24 | -631.53 | -54.67 | -9.76 | -464.16 | -12.83 | -3.02 | -3255.56 | -58.95 | 0.20 | 5.26 | -4.76 | 1.88 | -87.62 | -68.56 | 149.99 | -45.11 | -31.51 | 42.86 | -80.52 | 521.43 | 57.14 | 147.62 | -39.74 | 36.27 | 18.96 | 0 |
| 20Q3 (7) | 9.57 | 725.0 | 53.86 | -4.27 | 66.8 | 55.61 | -1.94 | 88.02 | 75.96 | -2.22 | 86.5 | 78.04 | -1.73 | 84.72 | 82.02 | -0.09 | 96.22 | 94.38 | 0.19 | 18.75 | 0.0 | 15.19 | 707.98 | 55.16 | 273.26 | -20.15 | -35.33 | 220.00 | 176.77 | 85.49 | -120.00 | -685.0 | -545.0 | 30.49 | -0.81 | -6.44 |
| 20Q2 (6) | 1.16 | 111.49 | 110.07 | -12.86 | 53.08 | 58.76 | -16.19 | 39.07 | 46.43 | -16.45 | 38.25 | 40.95 | -11.32 | 13.85 | 50.0 | -2.38 | 30.21 | 49.04 | 0.16 | 23.08 | -11.11 | 1.88 | 143.72 | 114.72 | 342.20 | 6.99 | -13.91 | 79.49 | -22.72 | -22.84 | 20.51 | 817.95 | 781.03 | 30.74 | -16.44 | -4.62 |
| 20Q1 (5) | -10.10 | -220.81 | -169.33 | -27.41 | -4320.97 | -42.32 | -26.57 | -160.75 | -27.01 | -26.64 | -153.71 | -32.21 | -13.14 | -51.91 | 16.2 | -3.41 | -79.47 | 6.58 | 0.13 | -38.1 | -31.58 | -4.30 | -171.91 | 24.69 | 319.83 | 46.05 | -3.01 | 102.86 | 1391.43 | 11.29 | -2.86 | -103.01 | -137.71 | 36.79 | 0 | 22.92 |
| 19Q4 (4) | 8.36 | 34.41 | 0.0 | -0.62 | 93.56 | 0.0 | -10.19 | -26.27 | 0.0 | -10.50 | -3.86 | 0.0 | -8.65 | 10.08 | 0.0 | -1.90 | -18.75 | 0.0 | 0.21 | 10.53 | 0.0 | 5.98 | -38.92 | 0.0 | 218.98 | -48.17 | 0.0 | 6.90 | -94.19 | 0.0 | 94.83 | 609.7 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 6.22 | 153.99 | 0.0 | -9.62 | 69.15 | 0.0 | -8.07 | 73.3 | 0.0 | -10.11 | 63.71 | 0.0 | -9.62 | 57.51 | 0.0 | -1.60 | 65.74 | 0.0 | 0.19 | 5.56 | 0.0 | 9.79 | 176.66 | 0.0 | 422.52 | 6.29 | 0.0 | 118.60 | 15.14 | 0.0 | -18.60 | -517.67 | 0.0 | 32.59 | 1.12 | 0.0 |
| 19Q2 (2) | -11.52 | -207.2 | 0.0 | -31.18 | -61.89 | 0.0 | -30.22 | -44.46 | 0.0 | -27.86 | -38.26 | 0.0 | -22.64 | -44.39 | 0.0 | -4.67 | -27.95 | 0.0 | 0.18 | -5.26 | 0.0 | -12.77 | -123.64 | 0.0 | 397.50 | 20.55 | 0.0 | 103.01 | 11.46 | 0.0 | -3.01 | -139.76 | 0.0 | 32.23 | 7.68 | 0.0 |
| 19Q1 (1) | -3.75 | 0.0 | 0.0 | -19.26 | 0.0 | 0.0 | -20.92 | 0.0 | 0.0 | -20.15 | 0.0 | 0.0 | -15.68 | 0.0 | 0.0 | -3.65 | 0.0 | 0.0 | 0.19 | 0.0 | 0.0 | -5.71 | 0.0 | 0.0 | 329.75 | 0.0 | 0.0 | 92.42 | 0.0 | 0.0 | 7.58 | 0.0 | 0.0 | 29.93 | 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) | -0.82 | 0 | -18.46 | 0 | 8.44 | -31.28 | -17.06 | 0 | -17.58 | 0 | -43.52 | 0 | -13.50 | 0 | 0.83 | 0.0 | -6.75 | 0 | 197.34 | 0.37 | 108.37 | 5.2 | -8.37 | 0 | 0.10 | -54.62 | 43.21 | 6.59 |
| 2022 (9) | 0.18 | -98.45 | -16.43 | 0 | 12.28 | 10.53 | -15.92 | 0 | -15.96 | 0 | -36.87 | 0 | -12.70 | 0 | 0.83 | -15.31 | -2.63 | 0 | 196.62 | 20.32 | 103.01 | 47.96 | -3.38 | 0 | 0.23 | -14.96 | 40.54 | 20.8 |
| 2021 (8) | 11.60 | 225.84 | -2.43 | 0 | 11.11 | -31.63 | -3.54 | 0 | -3.79 | 0 | -9.48 | 0 | -3.08 | 0 | 0.98 | 34.25 | 8.47 | 101.67 | 163.42 | 8.95 | 69.62 | -17.46 | 31.65 | 102.22 | 0.27 | -10.31 | 33.56 | 0.54 |
| 2020 (7) | 3.56 | 0 | -11.91 | 0 | 16.25 | 11.56 | -14.11 | 0 | -14.68 | 0 | -30.32 | 0 | -9.64 | 0 | 0.73 | -2.67 | 4.20 | 0 | 149.99 | -31.51 | 84.35 | -3.25 | 15.65 | 22.12 | 0.30 | -25.69 | 33.38 | 4.35 |
| 2019 (6) | -0.27 | 0 | -15.22 | 0 | 14.56 | 8.11 | -17.48 | 0 | -17.25 | 0 | -45.51 | 0 | -11.97 | 0 | 0.75 | 10.29 | -0.92 | 0 | 218.98 | -21.84 | 87.19 | -19.66 | 12.81 | 0 | 0.40 | -11.75 | 31.99 | -3.91 |
| 2018 (5) | 0.96 | -85.69 | -15.83 | 0 | 13.47 | 33.87 | -14.59 | 0 | -14.01 | 0 | -37.33 | 0 | -8.73 | 0 | 0.68 | -13.92 | 0.70 | -66.35 | 280.18 | -6.49 | 108.52 | 56.35 | -8.52 | 0 | 0.45 | -9.84 | 33.29 | 20.14 |
| 2017 (4) | 6.71 | 10.73 | -6.33 | 0 | 10.06 | 15.88 | -9.13 | 0 | -8.95 | 0 | -23.28 | 0 | -6.46 | 0 | 0.79 | 2.6 | 2.08 | 940.0 | 299.63 | 70.58 | 69.41 | -30.88 | 30.59 | 0 | 0.50 | 0 | 27.71 | -11.89 |
| 2016 (3) | 6.06 | -66.39 | -9.33 | 0 | 8.68 | 84.45 | -9.27 | 0 | -9.39 | 0 | -16.30 | 0 | -6.90 | 0 | 0.77 | -25.96 | 0.20 | -98.34 | 175.65 | 98.9 | 100.43 | 14.85 | -0.86 | 0 | 0.00 | 0 | 31.45 | 15.33 |
| 2015 (2) | 18.03 | -23.01 | 6.08 | -45.91 | 4.71 | 3.72 | 6.94 | -36.62 | 5.54 | -48.37 | 11.79 | -62.19 | 6.02 | -51.61 | 1.04 | -7.14 | 12.03 | -24.95 | 88.31 | -29.13 | 87.44 | -14.75 | 12.56 | 0 | 0.00 | 0 | 27.27 | -0.11 |
| 2014 (1) | 23.42 | 0 | 11.24 | 0 | 4.54 | 4.06 | 10.95 | 0 | 10.73 | 0 | 31.18 | 0 | 12.44 | 0 | 1.12 | -12.5 | 16.03 | 14.26 | 124.60 | -41.53 | 102.57 | 4.04 | -2.57 | 0 | 0.00 | 0 | 27.30 | 16.77 |
