- 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) | 0.47 | -30.88 | -91.53 | -32.97 | 7.6 | -96.6 | -35.61 | -55.77 | -281.26 | -35.61 | -55.77 | -235.63 | -8.49 | -68.45 | -160.43 | -2.07 | -60.47 | -137.93 | 0.06 | 0.0 | -33.33 | -20.00 | -138.66 | -1824.14 | 303.99 | 13.09 | 22.91 | 92.19 | -40.94 | -48.55 | 7.81 | 113.93 | 109.87 | 31.17 | -25.68 | 2.23 |
| 23Q3 (19) | 0.68 | -46.46 | -85.31 | -35.68 | -8.68 | -74.47 | -22.86 | 23.8 | 10.88 | -22.86 | 23.8 | 10.88 | -5.04 | 29.51 | 40.98 | -1.29 | 35.82 | 45.34 | 0.06 | -14.29 | -40.0 | -8.38 | 47.95 | 44.87 | 268.81 | 9.08 | 6.96 | 156.10 | 42.12 | 97.72 | -56.10 | -470.33 | -384.23 | 41.94 | 13.72 | 38.42 |
| 23Q2 (18) | 1.27 | -47.52 | -74.85 | -32.83 | -5.43 | -108.44 | -30.00 | -67.5 | -50.83 | -30.00 | -67.5 | -50.83 | -7.15 | -65.89 | -5.46 | -2.01 | -70.34 | -2.03 | 0.07 | 0.0 | -30.0 | -16.10 | -314.95 | -57.53 | 246.43 | 6.95 | 3.53 | 109.84 | -36.5 | 37.83 | -9.84 | 86.52 | -148.42 | 36.88 | -6.63 | 27.83 |
| 23Q1 (17) | 2.42 | -56.4 | -32.02 | -31.14 | -85.69 | -99.62 | -17.91 | -91.76 | -39.7 | -17.91 | -68.8 | -39.7 | -4.31 | -32.21 | -1.17 | -1.18 | -35.63 | 6.35 | 0.07 | -22.22 | -30.0 | -3.88 | -434.48 | -16.52 | 230.41 | -6.84 | 2.33 | 172.97 | -3.46 | 42.45 | -72.97 | 7.82 | -240.54 | 39.50 | 29.55 | 39.08 |
| 22Q4 (16) | 5.55 | 19.87 | -49.32 | -16.77 | 18.0 | -1512.5 | -9.34 | 63.59 | -314.71 | -10.61 | 58.64 | -295.76 | -3.26 | 61.83 | -238.72 | -0.87 | 63.14 | -207.41 | 0.09 | -10.0 | -35.71 | 1.16 | 107.63 | -90.29 | 247.32 | -1.59 | 15.02 | 179.17 | 126.94 | 780.83 | -79.17 | -501.11 | -165.4 | 30.49 | 0.63 | 83.01 |
| 22Q3 (15) | 4.63 | -8.32 | -67.96 | -20.45 | -29.84 | -227.2 | -25.65 | -28.96 | -369.72 | -25.65 | -28.96 | -395.85 | -8.54 | -25.96 | -365.22 | -2.36 | -19.8 | -318.52 | 0.10 | 0.0 | -16.67 | -15.20 | -48.73 | -180.17 | 251.32 | 5.58 | 14.89 | 78.95 | -0.93 | 220.14 | 19.74 | -2.83 | -87.88 | 30.30 | 5.03 | -8.87 |
| 22Q2 (14) | 5.05 | 41.85 | -41.42 | -15.75 | -0.96 | 20.45 | -19.89 | -55.15 | 59.33 | -19.89 | -55.15 | 59.29 | -6.78 | -59.15 | 48.09 | -1.97 | -56.35 | 53.76 | 0.10 | 0.0 | 11.11 | -10.22 | -206.91 | 71.79 | 238.03 | 5.72 | 10.37 | 79.69 | -34.37 | 95.6 | 20.31 | 194.79 | -65.72 | 28.85 | 1.58 | -33.28 |
| 22Q1 (13) | 3.56 | -67.49 | 56.83 | -15.60 | -1400.0 | 46.85 | -12.82 | -394.71 | -72.54 | -12.82 | -336.53 | -72.54 | -4.26 | -281.28 | -144.83 | -1.26 | -255.56 | -133.33 | 0.10 | -28.57 | 25.0 | -3.33 | -127.87 | -148.12 | 225.16 | 4.71 | 18.4 | 121.43 | 561.43 | -69.64 | -21.43 | -117.7 | 92.86 | 28.40 | 70.47 | -39.11 |
| 21Q4 (12) | 10.95 | -24.22 | 382.22 | -1.04 | 83.36 | 96.94 | 4.35 | -54.26 | 121.47 | 5.42 | -37.49 | 128.71 | 2.35 | -27.02 | 150.54 | 0.81 | -25.0 | 151.59 | 0.14 | 16.67 | 55.56 | 11.95 | -36.97 | 287.3 | 215.03 | -1.7 | 13.51 | -26.32 | 59.95 | -115.62 | 121.05 | -25.67 | 276.92 | 16.66 | -49.89 | -58.15 |
| 21Q3 (11) | 14.45 | 67.63 | 4478.79 | -6.25 | 68.43 | 84.47 | 9.51 | 119.44 | 11.36 | 8.67 | 117.74 | 25.11 | 3.22 | 124.66 | 143.94 | 1.08 | 125.35 | 96.36 | 0.12 | 33.33 | 71.43 | 18.96 | 152.33 | -26.48 | 218.74 | 1.43 | 21.3 | -65.71 | -261.3 | 85.97 | 162.86 | 174.82 | -71.35 | 33.25 | -23.1 | -38.09 |
| 21Q2 (10) | 8.62 | 279.74 | 2712.12 | -19.80 | 32.54 | 53.99 | -48.91 | -558.28 | -213.12 | -48.86 | -557.6 | -212.8 | -13.06 | -650.57 | -374.91 | -4.26 | -688.89 | -261.02 | 0.09 | 12.5 | 12.5 | -36.23 | -623.55 | -1349.31 | 215.66 | 13.4 | 65.26 | 40.74 | -89.81 | -85.35 | 59.26 | 119.75 | 133.27 | 43.24 | -7.29 | -7.88 |
| 21Q1 (9) | 2.27 | 158.51 | -36.77 | -29.35 | 13.55 | 21.59 | -7.43 | 63.33 | 84.07 | -7.43 | 60.65 | 84.07 | -1.74 | 62.58 | 78.73 | -0.54 | 65.61 | 85.25 | 0.08 | -11.11 | 0.0 | 6.92 | 208.46 | 123.38 | 190.17 | 0.39 | 51.71 | 400.00 | 137.5 | 401.2 | -300.00 | -338.46 | -1585.71 | 46.64 | 17.16 | 0 |
| 20Q4 (8) | -3.88 | -1075.76 | -317.98 | -33.95 | 15.65 | -37.56 | -20.26 | -337.24 | 35.78 | -18.88 | -372.44 | 34.72 | -4.65 | -452.27 | 31.52 | -1.57 | -385.45 | 49.52 | 0.09 | 28.57 | -18.18 | -6.38 | -124.74 | 68.1 | 189.43 | 5.05 | 59.88 | 168.42 | 135.96 | 114.74 | -68.42 | -112.04 | -417.22 | 39.81 | -25.88 | 0 |
| 20Q3 (7) | -0.33 | 0.0 | -107.07 | -40.25 | 6.46 | -30.68 | 8.54 | 154.67 | 128.96 | 6.93 | 144.37 | 122.31 | 1.32 | 148.0 | 123.12 | 0.55 | 146.61 | 120.37 | 0.07 | -12.5 | -22.22 | 25.79 | 789.31 | 265.75 | 180.33 | 38.18 | 57.3 | -468.42 | -268.42 | -551.49 | 568.42 | 419.11 | 11468.42 | 53.71 | 14.42 | 37.3 |
| 20Q2 (6) | -0.33 | -109.19 | -104.06 | -43.03 | -14.96 | -4.06 | -15.62 | 66.52 | 75.74 | -15.62 | 66.52 | 75.41 | -2.75 | 66.38 | 67.26 | -1.18 | 67.76 | 71.7 | 0.08 | 0.0 | 14.29 | 2.90 | 109.8 | 106.32 | 130.50 | 4.11 | 24.36 | 278.12 | 248.49 | 335.18 | -178.12 | -982.14 | -593.55 | 46.94 | 0 | -4.4 |
| 20Q1 (5) | 3.59 | 101.69 | -57.51 | -37.43 | -51.66 | 1.63 | -46.65 | -47.86 | -177.35 | -46.65 | -61.31 | -142.72 | -8.18 | -20.47 | -223.32 | -3.66 | -17.68 | -190.48 | 0.08 | -27.27 | 14.29 | -29.60 | -48.0 | -1691.4 | 125.35 | 5.8 | 28.87 | 79.81 | 1.75 | -64.96 | 20.19 | -6.38 | 115.8 | 0.00 | 0 | -100.0 |
| 19Q4 (4) | 1.78 | -61.88 | 0.0 | -24.68 | 19.87 | 0.0 | -31.55 | -6.99 | 0.0 | -28.92 | 6.89 | 0.0 | -6.79 | -18.91 | 0.0 | -3.11 | -15.19 | 0.0 | 0.11 | 22.22 | 0.0 | -20.00 | -28.53 | 0.0 | 118.48 | 3.35 | 0.0 | 78.43 | -24.4 | 0.0 | 21.57 | 531.37 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 4.67 | -42.49 | 0.0 | -30.80 | 25.51 | 0.0 | -29.49 | 54.19 | 0.0 | -31.06 | 51.1 | 0.0 | -5.71 | 32.02 | 0.0 | -2.70 | 35.25 | 0.0 | 0.09 | 28.57 | 0.0 | -15.56 | 66.09 | 0.0 | 114.64 | 9.24 | 0.0 | 103.75 | 62.34 | 0.0 | -5.00 | -113.85 | 0.0 | 39.12 | -20.33 | 0.0 |
| 19Q2 (2) | 8.12 | -3.91 | 0.0 | -41.35 | -8.67 | 0.0 | -64.38 | -282.76 | 0.0 | -63.52 | -230.49 | 0.0 | -8.40 | -232.02 | 0.0 | -4.17 | -230.95 | 0.0 | 0.07 | 0.0 | 0.0 | -45.89 | -2567.2 | 0.0 | 104.94 | 7.89 | 0.0 | 63.91 | -71.94 | 0.0 | 36.09 | 128.24 | 0.0 | 49.10 | 5.68 | 0.0 |
| 19Q1 (1) | 8.45 | 0.0 | 0.0 | -38.05 | 0.0 | 0.0 | -16.82 | 0.0 | 0.0 | -19.22 | 0.0 | 0.0 | -2.53 | 0.0 | 0.0 | -1.26 | 0.0 | 0.0 | 0.07 | 0.0 | 0.0 | 1.86 | 0.0 | 0.0 | 97.27 | 0.0 | 0.0 | 227.78 | 0.0 | 0.0 | -127.78 | 0.0 | 0.0 | 46.46 | 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) | 1.25 | -73.12 | -33.07 | 0 | 12.08 | 34.98 | -26.42 | 0 | -26.42 | 0 | -26.34 | 0 | -6.59 | 0 | 0.27 | -32.5 | -11.95 | 0 | 303.99 | 22.91 | 125.62 | 25.62 | -25.12 | 0 | 0.21 | 0 | 37.42 | 27.15 |
| 2022 (9) | 4.65 | -52.21 | -17.08 | 0 | 8.95 | -8.18 | -17.11 | 0 | -17.38 | 0 | -22.83 | 0 | -6.59 | 0 | 0.40 | -4.76 | -7.13 | 0 | 247.32 | 15.02 | 100.00 | -36.08 | -0.00 | 0 | 0.00 | 0 | 29.43 | -9.47 |
| 2021 (8) | 9.73 | 0 | -11.85 | 0 | 9.75 | -38.08 | -7.55 | 0 | -7.42 | 0 | -9.29 | 0 | -2.82 | 0 | 0.42 | 40.0 | 3.00 | 0 | 215.03 | 13.51 | 156.44 | -23.97 | -56.44 | 0 | 0.00 | 0 | 32.51 | -29.26 |
| 2020 (7) | -0.47 | 0 | -38.29 | 0 | 15.74 | 10.28 | -18.69 | 0 | -18.65 | 0 | -14.20 | 0 | -5.52 | 0 | 0.30 | -11.76 | -2.25 | 0 | 189.43 | 59.88 | 205.75 | 118.84 | -105.17 | 0 | 0.46 | -9.98 | 45.96 | 14.76 |
| 2019 (6) | 5.25 | -65.14 | -32.52 | 0 | 14.27 | 32.13 | -34.56 | 0 | -34.47 | 0 | -23.56 | 0 | -11.50 | 0 | 0.34 | -8.11 | -19.49 | 0 | 118.48 | 31.28 | 94.02 | -59.81 | 5.98 | 0 | 0.51 | -46.5 | 40.05 | 11.13 |
| 2018 (5) | 15.06 | -42.87 | -22.19 | 0 | 10.80 | 32.37 | -9.46 | 0 | -10.10 | 0 | -7.47 | 0 | -3.62 | 0 | 0.37 | -21.28 | 2.79 | -78.17 | 90.25 | -21.73 | 233.94 | 172.94 | -133.94 | 0 | 0.96 | 0 | 36.04 | 56.9 |
| 2017 (4) | 26.36 | 0 | 2.75 | 0 | 8.16 | -43.66 | 3.26 | 0 | 3.20 | 0 | 2.85 | 0 | 1.58 | 0 | 0.47 | 38.24 | 12.78 | 0 | 115.31 | 93.6 | 85.71 | 3.45 | 16.67 | -2.81 | 0.00 | 0 | 22.97 | -43.77 |
| 2016 (3) | -17.67 | 0 | -48.42 | 0 | 14.48 | 169.52 | -58.48 | 0 | -59.68 | 0 | -34.12 | 0 | -19.89 | 0 | 0.34 | -57.5 | -42.46 | 0 | 59.56 | -24.79 | 82.85 | -5.47 | 17.15 | 38.77 | 0.00 | 0 | 40.85 | 145.35 |
| 2015 (2) | -0.43 | 0 | -11.37 | 0 | 5.37 | 10.91 | -12.98 | 0 | -14.08 | 0 | -20.48 | 0 | -11.09 | 0 | 0.80 | 6.67 | -7.13 | 0 | 79.19 | -6.78 | 87.64 | -10.13 | 12.36 | 398.64 | 0.00 | 0 | 16.65 | -25.67 |
| 2014 (1) | -5.27 | 0 | -19.54 | 0 | 4.85 | 10.78 | -20.04 | 0 | -20.52 | 0 | -24.48 | 0 | -15.42 | 0 | 0.75 | 0.0 | -14.94 | 0 | 84.95 | 133.96 | 97.52 | -38.56 | 2.48 | 0 | 0.00 | 0 | 22.40 | 42.68 |
