- 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 | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 23Q1 (20) | 2.40 | -76.07 | -68.13 | -38.42 | -155.28 | -60.15 | -55.37 | -162.42 | -90.14 | -55.37 | -162.67 | -90.14 | -79.09 | -163.99 | -195.33 | -3.08 | -80.12 | -47.37 | 0.06 | -40.0 | -25.0 | -29.49 | -443.09 | -172.8 | 3341.17 | 115.65 | 216.16 | 69.77 | -0.86 | -17.31 | 30.23 | 2.03 | 61.24 | 27.40 | 60.05 | 27.15 |
| 22Q4 (19) | 10.03 | 100.2 | -18.85 | -15.05 | 31.68 | -870.97 | -21.10 | 11.53 | -130.1 | -21.08 | 11.61 | -129.88 | -29.96 | -22.49 | -208.87 | -1.71 | 5.52 | -185.0 | 0.10 | 11.11 | -9.09 | -5.43 | 25.21 | -210.14 | 1549.34 | 39.6 | 68.08 | 70.37 | -21.81 | 357.41 | 29.63 | 344.44 | -64.98 | 17.12 | 2.15 | 24.69 |
| 22Q3 (18) | 5.01 | 611.22 | -61.99 | -22.03 | 28.29 | -777.85 | -23.85 | 25.19 | -3713.64 | -23.85 | 25.19 | -3713.64 | -24.46 | 18.19 | -3450.68 | -1.81 | 24.58 | -511.36 | 0.09 | 0.0 | -18.18 | -7.26 | 47.81 | -150.8 | 1109.81 | 25.63 | 27.95 | 90.00 | -4.86 | -82.0 | 6.67 | 146.67 | 101.67 | 16.76 | -12.57 | 844.89 |
| 22Q2 (17) | -0.98 | -113.01 | -462.96 | -30.72 | -28.05 | 37.93 | -31.88 | -9.48 | 41.06 | -31.88 | -9.48 | 41.12 | -29.90 | -11.65 | 37.32 | -2.40 | -14.83 | 58.83 | 0.09 | 12.5 | -18.18 | -13.91 | -28.68 | 66.37 | 883.42 | -16.41 | -1.41 | 94.59 | 12.11 | 4.05 | 2.70 | -85.59 | -66.02 | 19.17 | -11.04 | -46.27 |
| 22Q1 (16) | 7.53 | -39.08 | -36.24 | -23.99 | -1447.74 | -79.7 | -29.12 | -217.56 | -5292.59 | -29.12 | -217.56 | -5292.59 | -26.78 | -176.08 | -7551.43 | -2.09 | -248.33 | -820.69 | 0.08 | -27.27 | -20.0 | -10.81 | -319.27 | -180.55 | 1056.79 | 14.64 | 97.33 | 84.38 | 448.44 | -95.78 | 18.75 | -77.84 | 100.99 | 21.55 | 56.96 | 22.44 |
| 21Q4 (15) | 12.36 | -6.22 | 55.28 | -1.55 | -147.69 | 92.21 | -9.17 | -1489.39 | 64.72 | -9.17 | -1489.39 | 64.72 | -9.70 | -1428.77 | 38.02 | -0.60 | -236.36 | 74.58 | 0.11 | 0.0 | 10.0 | 4.93 | -65.5 | 142.65 | 921.81 | 6.28 | 75.08 | 15.38 | -96.92 | -79.84 | 84.62 | 121.15 | 257.26 | 13.73 | 710.22 | -40.43 |
| 21Q3 (14) | 13.18 | 4781.48 | 29.09 | 3.25 | 106.57 | 119.1 | 0.66 | 101.22 | 102.97 | 0.66 | 101.22 | 102.97 | 0.73 | 101.53 | 106.61 | 0.44 | 107.55 | 124.18 | 0.11 | 0.0 | 10.0 | 14.29 | 134.55 | 291.55 | 867.38 | -3.2 | 95.72 | 500.00 | 450.0 | 552.17 | -400.00 | -5128.57 | -1814.29 | -2.25 | -106.31 | -108.04 |
| 21Q2 (13) | 0.27 | -97.71 | -97.23 | -49.49 | -270.71 | -266.05 | -54.09 | -9916.67 | -285.26 | -54.14 | -9925.93 | -285.61 | -47.70 | -13528.57 | -553.42 | -5.83 | -2110.34 | -362.7 | 0.11 | 10.0 | 0.0 | -41.36 | -408.2 | -3106.2 | 896.06 | 67.32 | 124.28 | 90.91 | -95.45 | -4.76 | 7.95 | 100.42 | 75.0 | 35.68 | 102.73 | 43.87 |
| 21Q1 (12) | 11.81 | 48.37 | 534.95 | -13.35 | 32.91 | 64.18 | -0.54 | 97.92 | 98.65 | -0.54 | 97.92 | 98.65 | -0.35 | 97.76 | 97.0 | 0.29 | 112.29 | 111.93 | 0.10 | 0.0 | 42.86 | 13.42 | 216.09 | 169.21 | 535.54 | 1.72 | 57.7 | 2000.00 | 2520.69 | 2066.67 | -1900.00 | -8122.22 | -24800.0 | 17.60 | -23.64 | -53.94 |
| 20Q4 (11) | 7.96 | -22.04 | 114.1 | -19.90 | -16.92 | 75.65 | -25.99 | -16.81 | 84.38 | -25.99 | -16.81 | 84.38 | -15.65 | -41.76 | 73.27 | -2.36 | -29.67 | 86.28 | 0.10 | 0.0 | 0.0 | -11.56 | -54.96 | 92.37 | 526.50 | 18.8 | 71.11 | 76.32 | -0.46 | 54.74 | 23.68 | 1.5 | -53.58 | 23.05 | -17.59 | -7.47 |
| 20Q3 (10) | 10.21 | 4.61 | 113.15 | -17.02 | -25.89 | -104.08 | -22.25 | -58.48 | -145.58 | -22.25 | -58.48 | -145.58 | -11.04 | -51.23 | -130.96 | -1.82 | -44.44 | -58.26 | 0.10 | -9.09 | -44.44 | -7.46 | -478.29 | -1432.14 | 443.18 | 10.93 | 125.01 | 76.67 | -19.68 | -15.67 | 23.33 | 413.33 | 156.67 | 27.97 | 12.78 | 110.94 |
| 20Q2 (9) | 9.76 | 424.73 | 51.08 | -13.52 | 63.72 | -85.97 | -14.04 | 64.86 | -93.39 | -14.04 | 64.86 | -75.06 | -7.30 | 37.34 | -89.12 | -1.26 | 48.15 | -18.87 | 0.11 | 57.14 | -31.25 | -1.29 | 93.35 | -190.21 | 399.52 | 17.64 | 106.82 | 95.45 | 3.41 | -4.55 | 4.55 | -40.91 | 0 | 24.80 | -35.1 | 60.21 |
| 20Q1 (8) | 1.86 | 103.29 | -66.96 | -37.27 | 54.4 | -165.08 | -39.95 | 75.98 | -120.84 | -39.95 | 75.98 | -135.28 | -11.65 | 80.1 | -117.76 | -2.43 | 85.87 | -39.66 | 0.07 | -30.0 | -41.67 | -19.39 | 87.19 | -208.76 | 339.60 | 10.37 | 77.93 | 92.31 | 87.16 | 16.74 | 7.69 | -84.92 | -66.92 | 38.21 | 53.39 | 50.2 |
| 19Q4 (7) | -56.46 | -1278.71 | -595.7 | -81.73 | -879.98 | -879.98 | -166.34 | -1735.98 | -1548.56 | -166.34 | -1735.98 | -1504.05 | -58.54 | -1124.69 | -1813.07 | -17.20 | -1395.65 | -1538.1 | 0.10 | -44.44 | -16.67 | -151.41 | -27137.5 | -3752.67 | 307.70 | 56.22 | 98.21 | 49.32 | -45.75 | -40.3 | 51.02 | 461.22 | 193.37 | 24.91 | 87.86 | -4.01 |
| 19Q3 (6) | 4.79 | -25.85 | -59.02 | -8.34 | -14.72 | -42.32 | -9.06 | -24.79 | -95.26 | -9.06 | -12.97 | -76.26 | -4.78 | -23.83 | -182.84 | -1.15 | -8.49 | -112.96 | 0.18 | 12.5 | 28.57 | 0.56 | -60.84 | -78.79 | 196.96 | 1.96 | 47.2 | 90.91 | -9.09 | -31.82 | 9.09 | 0 | 136.36 | 13.26 | -14.34 | -50.76 |
| 19Q2 (5) | 6.46 | 14.74 | -32.07 | -7.27 | 48.29 | -180.69 | -7.26 | 59.87 | -1523.53 | -8.02 | 52.77 | -5446.67 | -3.86 | 27.85 | -6533.33 | -1.06 | 39.08 | -604.76 | 0.16 | 33.33 | -5.88 | 1.43 | 122.77 | -78.07 | 193.17 | 1.21 | 48.67 | 100.00 | 26.47 | 125.0 | -0.00 | -100.0 | -100.0 | 15.48 | -39.15 | -33.33 |
| 19Q1 (4) | 5.63 | -50.57 | 0.0 | -14.06 | -68.59 | 0.0 | -18.09 | -79.29 | 0.0 | -16.98 | -63.74 | 0.0 | -5.35 | -74.84 | 0.0 | -1.74 | -65.71 | 0.0 | 0.12 | 0.0 | 0.0 | -6.28 | -59.8 | 0.0 | 190.86 | 22.95 | 0.0 | 79.07 | -4.28 | 0.0 | 23.26 | 33.72 | 0.0 | 25.44 | -1.97 | 0.0 |
| 18Q4 (3) | 11.39 | -2.57 | 0.0 | -8.34 | -42.32 | 0.0 | -10.09 | -117.46 | 0.0 | -10.37 | -101.75 | 0.0 | -3.06 | -81.07 | 0.0 | -1.05 | -94.44 | 0.0 | 0.12 | -14.29 | 0.0 | -3.93 | -248.86 | 0.0 | 155.24 | 16.02 | 0.0 | 82.61 | -38.04 | 0.0 | 17.39 | 169.57 | 0.0 | 25.95 | -3.64 | 0.0 |
| 18Q3 (2) | 11.69 | 22.92 | 0.0 | -5.86 | -126.25 | 0.0 | -4.64 | -1009.8 | 0.0 | -5.14 | -3526.67 | 0.0 | -1.69 | -2916.67 | 0.0 | -0.54 | -357.14 | 0.0 | 0.14 | -17.65 | 0.0 | 2.64 | -59.51 | 0.0 | 133.80 | 2.98 | 0.0 | 133.33 | 133.33 | 0.0 | -25.00 | -105.0 | 0.0 | 26.93 | 15.98 | 0.0 |
| 18Q2 (1) | 9.51 | 0.0 | 0.0 | -2.59 | 0.0 | 0.0 | 0.51 | 0.0 | 0.0 | 0.15 | 0.0 | 0.0 | 0.06 | 0.0 | 0.0 | 0.21 | 0.0 | 0.0 | 0.17 | 0.0 | 0.0 | 6.52 | 0.0 | 0.0 | 129.93 | 0.0 | 0.0 | -400.00 | 0.0 | 0.0 | 500.00 | 0.0 | 0.0 | 23.22 | 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 | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2022 (10) | 5.50 | -40.28 | -22.70 | 0 | 10.86 | 20.01 | -26.26 | 0 | -26.26 | 0 | -123.31 | 0 | -8.15 | 0 | 0.37 | -15.91 | -9.19 | 0 | 1549.34 | 68.08 | 86.51 | -9.92 | 13.49 | 354.23 | 0.89 | -16.22 | 18.54 | 12.43 |
| 2021 (9) | 9.21 | 16.14 | -16.04 | 0 | 9.05 | -15.41 | -16.55 | 0 | -16.56 | 0 | -56.29 | 0 | -5.87 | 0 | 0.44 | 18.92 | -2.80 | 0 | 921.81 | 75.08 | 96.04 | 13.66 | 2.97 | -79.83 | 1.06 | -4.93 | 16.49 | -40.19 |
| 2020 (8) | 7.93 | 0 | -20.51 | 0 | 10.69 | 35.18 | -24.14 | 0 | -24.14 | 0 | -44.14 | 0 | -7.71 | 0 | 0.37 | -43.94 | -9.01 | 0 | 526.50 | 71.11 | 84.50 | 42.99 | 14.73 | -64.0 | 1.12 | 222.46 | 27.57 | 50.08 |
| 2019 (7) | -4.15 | 0 | -20.77 | 0 | 7.91 | 68.82 | -35.16 | 0 | -35.16 | 0 | -70.42 | 0 | -21.85 | 0 | 0.66 | 6.45 | -24.53 | 0 | 307.70 | 98.21 | 59.09 | -34.8 | 40.91 | 336.36 | 0.35 | -59.97 | 18.37 | -24.28 |
| 2018 (6) | 9.95 | -7.53 | -5.12 | 0 | 4.69 | 7.45 | -5.64 | 0 | -5.73 | 0 | -8.02 | 0 | -2.74 | 0 | 0.62 | -27.06 | 0.71 | -88.4 | 155.24 | 52.86 | 90.62 | 0 | 9.38 | -96.25 | 0.87 | -7.71 | 24.26 | 15.58 |
| 2017 (5) | 10.76 | -44.96 | -1.42 | 0 | 4.36 | -22.98 | 0.91 | -69.15 | 0.70 | -72.33 | 1.21 | -71.46 | 1.11 | -61.19 | 0.85 | -3.41 | 6.12 | -36.12 | 101.56 | -1.11 | -158.33 | 0 | 250.00 | 0 | 0.94 | 0 | 20.99 | -10.3 |
| 2016 (4) | 19.55 | 103.86 | 4.57 | 0 | 5.66 | -4.31 | 2.95 | 0 | 2.53 | 0 | 4.24 | 0 | 2.86 | 0 | 0.88 | -2.22 | 9.58 | 466.86 | 102.70 | 29.52 | 152.94 | 18.35 | -55.88 | 0 | 0.00 | 0 | 23.40 | -2.26 |
| 2015 (3) | 9.59 | 4.13 | -7.09 | 0 | 5.92 | -33.47 | -5.47 | 0 | -6.01 | 0 | -10.34 | 0 | -4.59 | 0 | 0.90 | 8.43 | 1.69 | 0 | 79.29 | -22.14 | 129.23 | 693.38 | -29.23 | 0 | 0.00 | 0 | 23.94 | 13.41 |
| 2014 (2) | 9.21 | 87.58 | -5.71 | 0 | 8.89 | -44.87 | -35.05 | 0 | -35.51 | 0 | -54.55 | 0 | -28.49 | 0 | 0.83 | 40.68 | -24.73 | 0 | 101.84 | 34.19 | 16.29 | -87.07 | 83.71 | 0 | 0.00 | 0 | 21.11 | 24.76 |
| 2013 (1) | 4.91 | 0 | -15.56 | 0 | 16.13 | -43.69 | -12.33 | 0 | -12.77 | 0 | -12.14 | 0 | -6.73 | 0 | 0.59 | 126.92 | 5.66 | 0 | 75.89 | 68.87 | 125.95 | 80.02 | -25.95 | 0 | 0.00 | 0 | 16.92 | -20.64 |
