- 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) | -56.53 | -70.84 | -705.25 | -73.61 | -77.67 | -3588.63 | -86.98 | -67.37 | -87080.0 | -96.59 | -85.46 | -120837.5 | -15.16 | -79.2 | -50633.33 | -7.02 | -73.33 | -3610.0 | 0.08 | 0.0 | -50.0 | -68.39 | -86.2 | -1004.63 | 119.30 | 19.18 | 18.88 | 84.65 | 6.16 | -95.62 | 15.35 | -24.23 | 100.84 | 15.97 | 11.91 | 93.58 |
| 23Q3 (19) | -33.09 | -5352.38 | -432.23 | -41.43 | -303.8 | -414400.0 | -51.97 | -279.62 | -1412.37 | -52.08 | -279.87 | -1418.48 | -8.46 | -253.97 | -862.16 | -4.05 | -293.2 | -625.97 | 0.08 | -11.11 | -46.67 | -36.73 | -3398.1 | -403.05 | 100.10 | 4.96 | 12.01 | 79.74 | 6.49 | 14890.49 | 20.26 | -19.34 | -79.63 | 14.27 | 9.1 | 47.57 |
| 23Q2 (18) | 0.63 | -91.68 | -93.94 | -10.26 | -812.5 | -427.8 | -13.69 | -2001.39 | -470.0 | -13.71 | -2146.27 | -425.65 | -2.39 | -1427.78 | -343.88 | -1.03 | -443.33 | -247.14 | 0.09 | -35.71 | -30.77 | -1.05 | -111.5 | -108.23 | 95.37 | 3.02 | 15.2 | 74.88 | -62.0 | -11.62 | 25.12 | 125.12 | 64.44 | 13.08 | 36.53 | 7.39 |
| 23Q1 (17) | 7.57 | -18.95 | -52.89 | 1.44 | -31.75 | -86.54 | 0.72 | 620.0 | -94.46 | 0.67 | 737.5 | -94.61 | 0.18 | 500.0 | -94.99 | 0.30 | 50.0 | -85.37 | 0.14 | -12.5 | -6.67 | 9.13 | 20.77 | -55.46 | 92.57 | -7.75 | 6.65 | 197.06 | -89.81 | 139.54 | -100.00 | 94.55 | -663.89 | 9.58 | 16.12 | -2.04 |
| 22Q4 (16) | 9.34 | -6.22 | 32.11 | 2.11 | 21000.0 | 150.48 | 0.10 | -97.47 | 100.9 | 0.08 | -97.97 | 100.72 | 0.03 | -97.3 | 100.98 | 0.20 | -74.03 | 115.87 | 0.16 | 6.67 | 23.08 | 7.56 | -37.62 | 458.29 | 100.35 | 12.29 | 3.28 | 1933.33 | 363366.67 | 5029.48 | -1833.33 | -1943.14 | -3042.31 | 8.25 | -14.68 | -17.66 |
| 22Q3 (15) | 9.96 | -4.14 | 62.48 | 0.01 | -99.68 | 100.56 | 3.96 | 7.03 | 236.08 | 3.95 | -6.18 | 240.57 | 1.11 | 13.27 | 260.87 | 0.77 | 10.0 | 3950.0 | 0.15 | 15.38 | 36.36 | 12.12 | -5.02 | 40.12 | 89.37 | 7.95 | -27.63 | 0.53 | -99.37 | -99.12 | 99.47 | 551.06 | 153.64 | 9.67 | -20.61 | -27.73 |
| 22Q2 (14) | 10.39 | -35.35 | 41.36 | 3.13 | -70.75 | 191.52 | 3.70 | -71.54 | 159.11 | 4.21 | -66.16 | 167.25 | 0.98 | -72.7 | 161.25 | 0.70 | -65.85 | 240.0 | 0.13 | -13.33 | 18.18 | 12.76 | -37.76 | 214.29 | 82.79 | -4.62 | -35.19 | 84.72 | 2.99 | 55.89 | 15.28 | -13.85 | -66.21 | 12.18 | 24.54 | 5.73 |
| 22Q1 (13) | 16.07 | 127.3 | 1123.57 | 10.70 | 355.98 | 169.8 | 13.00 | 216.8 | 170.96 | 12.44 | 211.77 | 167.46 | 3.59 | 217.32 | 195.48 | 2.05 | 262.7 | 241.38 | 0.15 | 15.38 | 66.67 | 20.50 | 1071.56 | 649.6 | 86.80 | -10.66 | -27.09 | 82.27 | 118.27 | -1.67 | 17.73 | -71.54 | 8.57 | 9.78 | -2.4 | -24.77 |
| 21Q4 (12) | 7.07 | 15.33 | 128.1 | -4.18 | -136.16 | 96.45 | -11.13 | -282.47 | 93.35 | -11.13 | -296.09 | 93.9 | -3.06 | -343.48 | 89.25 | -1.26 | -6200.0 | 90.68 | 0.13 | 18.18 | 62.5 | -2.11 | -124.39 | 98.56 | 97.16 | -21.32 | -16.28 | 37.69 | -37.99 | -46.43 | 62.31 | 58.89 | 110.2 | 10.02 | -25.11 | -29.88 |
| 21Q3 (11) | 6.13 | -16.6 | -12.3 | -1.77 | 48.25 | 28.34 | -2.91 | 53.51 | -165.1 | -2.81 | 55.11 | -167.39 | -0.69 | 56.88 | -192.0 | -0.02 | 96.0 | -102.94 | 0.11 | 0.0 | 22.22 | 8.65 | 113.05 | -63.32 | 123.49 | -3.33 | 24.8 | 60.78 | 11.84 | 209.69 | 39.22 | -13.27 | -74.77 | 13.38 | 16.15 | 21.97 |
| 21Q2 (10) | 7.35 | 568.15 | 253.44 | -3.42 | 77.69 | 80.76 | -6.26 | 65.83 | 67.93 | -6.26 | 66.05 | 67.96 | -1.60 | 57.45 | 51.07 | -0.50 | 65.52 | 57.26 | 0.11 | 22.22 | 37.5 | 4.06 | 208.85 | 78.07 | 127.74 | 7.3 | 11.33 | 54.35 | -35.04 | -40.37 | 45.22 | 176.83 | 410.08 | 11.52 | -11.38 | 0 |
| 21Q1 (9) | -1.57 | 93.76 | 83.3 | -15.33 | 86.97 | 38.56 | -18.32 | 89.05 | 22.5 | -18.44 | 89.89 | 22.78 | -3.76 | 86.79 | -8.99 | -1.45 | 89.28 | -16.94 | 0.09 | 12.5 | 28.57 | -3.73 | 97.45 | -292.27 | 119.05 | 2.58 | -0.5 | 83.67 | 18.92 | -20.71 | 16.33 | -44.9 | 395.69 | 13.00 | -9.03 | -12.34 |
| 20Q4 (8) | -25.16 | -459.94 | -95.65 | -117.69 | -4664.78 | -61.04 | -167.27 | -3842.06 | -115.25 | -182.31 | -4471.94 | -133.55 | -28.47 | -3896.0 | -110.42 | -13.52 | -2088.24 | -139.29 | 0.08 | -11.11 | 0.0 | -146.50 | -721.29 | -170.54 | 116.06 | 17.29 | -3.14 | 70.36 | 226.97 | -25.2 | 29.64 | -80.93 | 399.3 | 14.29 | 30.26 | 22.66 |
| 20Q3 (7) | 6.99 | 245.93 | 170.75 | -2.47 | 86.11 | 88.87 | 4.47 | 122.9 | 116.84 | 4.17 | 121.34 | 115.69 | 0.75 | 122.94 | 115.89 | 0.68 | 158.12 | 138.86 | 0.09 | 12.5 | 12.5 | 23.58 | 934.21 | 2367.31 | 98.95 | -13.76 | -24.72 | -55.41 | -160.8 | -166.22 | 155.41 | 1653.18 | 847.61 | 10.97 | 0 | -25.78 |
| 20Q2 (6) | -4.79 | 49.04 | -1021.15 | -17.78 | 28.74 | -32.79 | -19.52 | 17.43 | -22.0 | -19.54 | 18.17 | -21.14 | -3.27 | 5.22 | 11.86 | -1.17 | 5.65 | 10.69 | 0.08 | 14.29 | -20.0 | 2.28 | 17.53 | 10.14 | 114.74 | -4.1 | -8.76 | 91.14 | -13.64 | 8.91 | 8.86 | 260.47 | -45.68 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | -9.40 | 26.91 | -333.18 | -24.95 | 65.86 | -58.11 | -23.64 | 69.58 | -56.45 | -23.88 | 69.41 | -48.88 | -3.45 | 74.5 | -27.31 | -1.24 | 78.05 | -39.33 | 0.07 | -12.5 | 0.0 | 1.94 | 103.58 | -85.26 | 119.65 | -0.14 | -7.66 | 105.52 | 12.18 | 1.02 | -5.52 | -193.05 | -23.82 | 14.83 | 27.3 | 28.18 |
| 19Q4 (4) | -12.86 | -30.16 | 0.0 | -73.08 | -229.19 | 0.0 | -77.71 | -192.8 | 0.0 | -78.06 | -193.79 | 0.0 | -13.53 | -186.65 | 0.0 | -5.65 | -222.86 | 0.0 | 0.08 | 0.0 | 0.0 | -54.15 | -5106.73 | 0.0 | 119.82 | -8.85 | 0.0 | 94.06 | 12.4 | 0.0 | 5.94 | -63.8 | 0.0 | 11.65 | -21.18 | 0.0 |
| 19Q3 (3) | -9.88 | -2000.0 | 0.0 | -22.20 | -65.8 | 0.0 | -26.54 | -65.88 | 0.0 | -26.57 | -64.72 | 0.0 | -4.72 | -27.22 | 0.0 | -1.75 | -33.59 | 0.0 | 0.08 | -20.0 | 0.0 | -1.04 | -150.24 | 0.0 | 131.45 | 4.52 | 0.0 | 83.69 | 0.01 | 0.0 | 16.40 | 0.5 | 0.0 | 14.78 | 2.64 | 0.0 |
| 19Q2 (2) | 0.52 | 123.96 | 0.0 | -13.39 | 15.15 | 0.0 | -16.00 | -5.89 | 0.0 | -16.13 | -0.56 | 0.0 | -3.71 | -36.9 | 0.0 | -1.31 | -47.19 | 0.0 | 0.10 | 42.86 | 0.0 | 2.07 | -84.27 | 0.0 | 125.76 | -2.94 | 0.0 | 83.68 | -19.89 | 0.0 | 16.32 | 465.79 | 0.0 | 14.40 | 24.46 | 0.0 |
| 19Q1 (1) | -2.17 | 0.0 | 0.0 | -15.78 | 0.0 | 0.0 | -15.11 | 0.0 | 0.0 | -16.04 | 0.0 | 0.0 | -2.71 | 0.0 | 0.0 | -0.89 | 0.0 | 0.0 | 0.07 | 0.0 | 0.0 | 13.16 | 0.0 | 0.0 | 129.57 | 0.0 | 0.0 | 104.46 | 0.0 | 0.0 | -4.46 | 0.0 | 0.0 | 11.57 | 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) | -14.12 | 0 | -23.81 | 0 | 9.85 | 51.87 | -29.50 | 0 | -31.28 | 0 | -25.93 | 0 | -11.54 | 0 | 0.40 | -29.82 | -16.83 | 0 | 119.30 | 18.88 | 80.69 | 3.3 | 19.31 | -11.77 | 0.01 | 19.18 | 12.54 | 27.96 |
| 2022 (9) | 11.39 | 123.33 | 3.93 | 0 | 6.49 | -22.5 | 5.03 | 0 | 4.99 | 0 | 5.70 | 0 | 3.54 | 0 | 0.57 | 26.67 | 13.01 | 639.2 | 100.35 | 3.28 | 78.12 | 27.6 | 21.88 | -43.57 | 0.01 | -45.32 | 9.80 | -17.3 |
| 2021 (8) | 5.10 | 0 | -5.74 | 0 | 8.37 | -49.12 | -9.37 | 0 | -9.38 | 0 | -8.70 | 0 | -3.23 | 0 | 0.45 | 45.16 | 1.76 | 0 | 97.16 | -16.28 | 61.22 | -23.9 | 38.78 | 98.38 | 0.02 | -92.57 | 11.85 | -6.99 |
| 2020 (7) | -7.01 | 0 | -36.88 | 0 | 16.45 | -10.88 | -45.84 | 0 | -49.25 | 0 | -33.76 | 0 | -14.16 | 0 | 0.31 | -8.82 | -24.11 | 0 | 116.06 | -3.14 | 80.45 | -12.07 | 19.55 | 130.01 | 0.22 | -11.44 | 12.74 | -3.7 |
| 2019 (6) | -5.42 | 0 | -28.79 | 0 | 18.46 | 3.45 | -31.46 | 0 | -31.81 | 0 | -24.58 | 0 | -9.64 | 0 | 0.34 | 21.43 | -8.05 | 0 | 119.82 | -6.07 | 91.50 | -81.4 | 8.50 | 0 | 0.24 | -30.08 | 13.23 | -9.01 |
| 2018 (5) | -6.79 | 0 | -21.80 | 0 | 17.84 | 6.19 | -4.43 | 0 | -4.61 | 0 | -3.29 | 0 | -0.18 | 0 | 0.28 | -3.45 | 18.51 | 0 | 127.56 | -36.87 | 491.92 | 422.0 | -391.92 | 0 | 0.35 | -54.3 | 14.54 | -13.56 |
| 2017 (4) | -19.09 | 0 | -37.99 | 0 | 16.80 | 41.05 | -40.31 | 0 | -40.59 | 0 | -29.70 | 0 | -10.01 | 0 | 0.29 | -34.09 | -16.26 | 0 | 202.05 | 67.04 | 94.24 | -4.8 | 5.76 | 468.69 | 0.76 | 0 | 16.82 | 24.04 |
| 2016 (3) | -11.58 | 0 | -38.40 | 0 | 11.91 | 28.21 | -38.80 | 0 | -38.75 | 0 | -34.61 | 0 | -15.93 | 0 | 0.44 | -24.14 | -24.25 | 0 | 120.96 | 31.35 | 98.99 | 18.25 | 1.01 | -93.78 | 0.00 | 0 | 13.56 | 19.16 |
| 2015 (2) | 2.62 | -54.28 | -5.85 | 0 | 9.29 | 27.43 | -6.99 | 0 | -6.93 | 0 | -7.31 | 0 | -3.46 | 0 | 0.58 | -24.68 | 3.50 | -61.79 | 92.09 | 28.24 | 83.71 | -25.07 | 16.29 | 0 | 0.00 | 0 | 11.38 | 14.83 |
| 2014 (1) | 5.73 | 0 | 0.90 | 0 | 7.29 | -15.5 | 0.80 | 0 | 0.89 | 0 | 1.19 | 0 | 1.25 | 0 | 0.77 | 6.94 | 9.16 | -25.95 | 71.81 | -8.65 | 111.71 | 77.53 | -11.71 | 0 | 0.00 | 0 | 9.91 | -2.36 |
