- 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) | 16.99 | -8.26 | 16.45 | -1.80 | -573.68 | 68.86 | 2.57 | -73.8 | 2236.36 | 1.18 | -88.64 | 208.26 | 0.13 | -88.7 | 208.33 | 0.20 | -79.17 | 1900.0 | 0.08 | 0.0 | 0.0 | 13.24 | -33.06 | 19.17 | 35.02 | 2.07 | -8.94 | -71.43 | -2028.57 | 0 | 171.43 | 78.02 | 0 | 28.08 | 83.53 | 24.58 |
| 23Q3 (19) | 18.52 | 6.13 | 10.3 | 0.38 | 116.17 | 112.71 | 9.81 | -28.03 | 30.63 | 10.39 | -3.35 | 63.36 | 1.15 | -0.86 | 66.67 | 0.96 | 0.0 | 65.52 | 0.08 | 0.0 | 0.0 | 19.78 | -17.17 | 1.59 | 34.31 | -6.1 | -12.99 | 3.70 | 122.84 | 109.26 | 96.30 | -17.14 | -31.22 | 15.30 | -34.17 | -31.02 |
| 23Q2 (18) | 17.45 | -10.83 | -25.52 | -2.35 | -498.31 | -131.54 | 13.63 | 23.24 | 5579.17 | 10.75 | 13.28 | 26775.0 | 1.16 | 17.17 | 11500.0 | 0.96 | 17.07 | 966.67 | 0.08 | 0.0 | -11.11 | 23.88 | 5.8 | 142.68 | 36.54 | 2.64 | -19.92 | -16.22 | -327.03 | -100.71 | 116.22 | 20.52 | 105.05 | 23.24 | 1.57 | 19.42 |
| 23Q1 (17) | 19.57 | 34.13 | -18.7 | 0.59 | 110.21 | -93.94 | 11.06 | 9954.55 | -28.23 | 9.49 | 970.64 | -25.28 | 0.99 | 925.0 | -35.71 | 0.82 | 8100.0 | -30.51 | 0.08 | 0.0 | -11.11 | 22.57 | 103.15 | -9.39 | 35.60 | -7.44 | -11.44 | 7.14 | 0 | -88.92 | 96.43 | 0 | 155.25 | 22.88 | 1.51 | 3.39 |
| 22Q4 (16) | 14.59 | -13.1 | -48.77 | -5.78 | -93.31 | -148.74 | 0.11 | -98.54 | -99.38 | -1.09 | -117.14 | -108.38 | -0.12 | -117.39 | -106.59 | 0.01 | -98.28 | -99.29 | 0.08 | 0.0 | -20.0 | 11.11 | -42.94 | -58.34 | 38.46 | -2.46 | 4.45 | 0.00 | 100.0 | -100.0 | 0.00 | -100.0 | -100.0 | 22.54 | 1.62 | 6.02 |
| 22Q3 (15) | 16.79 | -28.34 | -21.83 | -2.99 | -140.13 | -139.81 | 7.51 | 3029.17 | -37.57 | 6.36 | 15800.0 | -44.01 | 0.69 | 6800.0 | -59.65 | 0.58 | 544.44 | -56.06 | 0.08 | -11.11 | -27.27 | 19.47 | 97.87 | -5.62 | 39.43 | -13.59 | 4.48 | -40.00 | -101.74 | -164.62 | 140.00 | 106.09 | 267.5 | 22.18 | 13.98 | 2.73 |
| 22Q2 (14) | 23.43 | -2.66 | 1.87 | 7.45 | -23.51 | -14.47 | 0.24 | -98.44 | -97.66 | 0.04 | -99.69 | -99.59 | 0.01 | -99.35 | -99.26 | 0.09 | -92.37 | -91.59 | 0.09 | 0.0 | -10.0 | 9.84 | -60.5 | -49.69 | 45.63 | 13.51 | 28.5 | 2300.00 | 3468.97 | 2610.71 | -2300.00 | -6188.24 | -15280.0 | 19.46 | -12.07 | -9.45 |
| 22Q1 (13) | 24.07 | -15.48 | 23.56 | 9.74 | -17.88 | 136.98 | 15.41 | -12.54 | 37.34 | 12.70 | -2.38 | 31.47 | 1.54 | -15.38 | 30.51 | 1.18 | -15.71 | 26.88 | 0.09 | -10.0 | 0.0 | 24.91 | -6.6 | 11.5 | 40.20 | 9.18 | 5.35 | 64.44 | -4.16 | 81.62 | 37.78 | 15.32 | -38.36 | 22.13 | 4.09 | -6.23 |
| 21Q4 (12) | 28.48 | 32.59 | 112.54 | 11.86 | 57.92 | 413.76 | 17.62 | 46.47 | 769.96 | 13.01 | 14.52 | 1985.51 | 1.82 | 6.43 | 2375.0 | 1.40 | 6.06 | 4566.67 | 0.10 | -9.09 | 25.0 | 26.67 | 29.28 | 124.31 | 36.82 | -2.44 | -4.93 | 67.24 | 8.62 | -55.17 | 32.76 | -14.01 | 165.52 | 21.26 | -1.53 | -26.03 |
| 21Q3 (11) | 21.48 | -6.61 | 9.54 | 7.51 | -13.78 | 209.05 | 12.03 | 17.25 | 41.53 | 11.36 | 16.16 | 44.53 | 1.71 | 25.74 | 98.84 | 1.32 | 23.36 | 88.57 | 0.11 | 10.0 | 37.5 | 20.63 | 5.47 | -6.4 | 37.74 | 6.28 | -7.14 | 61.90 | -27.04 | 116.67 | 38.10 | 151.43 | -46.67 | 21.59 | 0.47 | 8.38 |
| 21Q2 (10) | 23.00 | 18.07 | 78.85 | 8.71 | 111.92 | 211.1 | 10.26 | -8.56 | -16.99 | 9.78 | 1.24 | -20.68 | 1.36 | 15.25 | 36.0 | 1.07 | 15.05 | 28.92 | 0.10 | 11.11 | 66.67 | 19.56 | -12.44 | -34.8 | 35.51 | -6.94 | 1.43 | 84.85 | 139.12 | 233.33 | 15.15 | -75.28 | -90.74 | 21.49 | -8.94 | 0 |
| 21Q1 (9) | 19.48 | 45.37 | 178.68 | 4.11 | 208.73 | 129.63 | 11.22 | 526.62 | 253.7 | 9.66 | 1500.0 | 218.82 | 1.18 | 1575.0 | 351.06 | 0.93 | 3000.0 | 420.69 | 0.09 | 12.5 | 125.0 | 22.34 | 87.89 | 34.01 | 38.16 | -1.47 | 27.84 | 35.48 | -76.34 | -81.21 | 61.29 | 222.58 | 168.95 | 23.60 | -17.88 | 0 |
| 20Q4 (8) | 13.40 | -31.67 | 192.54 | -3.78 | -255.56 | 89.49 | -2.63 | -130.94 | 98.98 | -0.69 | -108.78 | 99.73 | -0.08 | -109.3 | 99.51 | 0.03 | -95.71 | 100.24 | 0.08 | 0.0 | 60.0 | 11.89 | -46.05 | 105.36 | 38.73 | -4.7 | 26.4 | 150.00 | 425.0 | 983.33 | -50.00 | -170.0 | -158.04 | 28.74 | 44.28 | 0 |
| 20Q3 (7) | 19.61 | 52.49 | 122.59 | 2.43 | 130.99 | 135.89 | 8.50 | -31.23 | 5212.5 | 7.86 | -36.25 | 4812.5 | 0.86 | -14.0 | 8500.0 | 0.70 | -15.66 | 775.0 | 0.08 | 33.33 | 60.0 | 22.04 | -26.53 | -29.88 | 40.64 | 16.08 | 43.35 | 28.57 | 144.9 | 0 | 71.43 | -56.35 | 0 | 19.92 | 0 | 11.41 |
| 20Q2 (6) | 12.86 | 83.98 | 146.56 | -7.84 | 43.48 | 82.9 | 12.36 | 269.32 | 135.14 | 12.33 | 251.66 | 135.06 | 1.00 | 312.77 | 185.47 | 0.83 | 386.21 | 194.32 | 0.06 | 50.0 | 100.0 | 30.00 | 79.96 | 18.62 | 35.01 | 17.29 | 16.27 | -63.64 | -133.69 | -149.32 | 163.64 | 284.09 | 663.64 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 6.99 | 148.27 | 120.5 | -13.87 | 61.42 | 71.48 | -7.30 | 97.18 | 82.84 | -8.13 | 96.83 | 80.88 | -0.47 | 97.1 | 67.36 | -0.29 | 97.67 | 74.11 | 0.04 | -20.0 | 33.33 | 16.67 | 107.51 | -8.31 | 29.85 | -2.58 | 40.34 | 188.89 | 1264.2 | 62.53 | -88.89 | -203.17 | -557.78 | 0.00 | 0 | -100.0 |
| 19Q4 (4) | -14.48 | -264.36 | 0.0 | -35.95 | -431.02 | 0.0 | -258.93 | -161931.25 | 0.0 | -256.60 | -160475.0 | 0.0 | -16.19 | -162000.0 | 0.0 | -12.42 | -15625.0 | 0.0 | 0.05 | 0.0 | 0.0 | -221.85 | -805.85 | 0.0 | 30.64 | 8.08 | 0.0 | 13.85 | 0 | 0.0 | 86.15 | 0 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 8.81 | 131.9 | 0.0 | -6.77 | 85.24 | 0.0 | 0.16 | 100.45 | 0.0 | 0.16 | 100.45 | 0.0 | 0.01 | 100.85 | 0.0 | 0.08 | 109.09 | 0.0 | 0.05 | 66.67 | 0.0 | 31.43 | 24.28 | 0.0 | 28.35 | -5.85 | 0.0 | 0.00 | -100.0 | 0.0 | 0.00 | 100.0 | 0.0 | 17.88 | -34.43 | 0.0 |
| 19Q2 (2) | -27.62 | 18.98 | 0.0 | -45.86 | 5.7 | 0.0 | -35.17 | 17.31 | 0.0 | -35.17 | 17.31 | 0.0 | -1.17 | 18.75 | 0.0 | -0.88 | 21.43 | 0.0 | 0.03 | 0.0 | 0.0 | 25.29 | 39.11 | 0.0 | 30.11 | 41.56 | 0.0 | 129.03 | 11.03 | 0.0 | -29.03 | -114.84 | 0.0 | 27.27 | -11.26 | 0.0 |
| 19Q1 (1) | -34.09 | 0.0 | 0.0 | -48.63 | 0.0 | 0.0 | -42.53 | 0.0 | 0.0 | -42.53 | 0.0 | 0.0 | -1.44 | 0.0 | 0.0 | -1.12 | 0.0 | 0.0 | 0.03 | 0.0 | 0.0 | 18.18 | 0.0 | 0.0 | 21.27 | 0.0 | 0.0 | 116.22 | 0.0 | 0.0 | -13.51 | 0.0 | 0.0 | 30.73 | 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) | 18.12 | -9.45 | -0.80 | 0 | 9.02 | -1.87 | 9.23 | 58.59 | 7.93 | 75.44 | 3.43 | 61.79 | 2.92 | 54.5 | 0.32 | -5.88 | 19.81 | 21.76 | 35.02 | -8.94 | -9.09 | 0 | 109.09 | 94.59 | 1.38 | 33.7 | 22.33 | 3.86 |
| 2022 (9) | 20.01 | -13.94 | 2.57 | -68.7 | 9.20 | 7.96 | 5.82 | -54.78 | 4.52 | -59.02 | 2.12 | -65.07 | 1.89 | -59.87 | 0.34 | -15.0 | 16.27 | -27.11 | 38.46 | 4.45 | 43.94 | -31.13 | 56.06 | 54.88 | 1.03 | -3.95 | 21.50 | -1.87 |
| 2021 (8) | 23.25 | 64.08 | 8.21 | 0 | 8.52 | -42.54 | 12.87 | 271.97 | 11.03 | 197.3 | 6.07 | 352.99 | 4.71 | 259.54 | 0.40 | 48.15 | 22.32 | 13.18 | 36.82 | -4.93 | 63.80 | 0 | 36.20 | -83.65 | 1.07 | -5.49 | 21.91 | -12.01 |
| 2020 (7) | 14.17 | 0 | -4.38 | 0 | 14.82 | -63.95 | 3.46 | 0 | 3.71 | 0 | 1.34 | 0 | 1.31 | 0 | 0.27 | 58.82 | 19.72 | 0 | 38.73 | 26.4 | -125.00 | 0 | 221.43 | 228.2 | 1.14 | 0 | 24.90 | 4.67 |
| 2019 (6) | -12.06 | 0 | -29.69 | 0 | 41.12 | 48.44 | -91.40 | 0 | -90.70 | 0 | -18.92 | 0 | -14.71 | 0 | 0.17 | -26.09 | -48.30 | 0 | 30.64 | 34.74 | 32.53 | 0 | 67.47 | -79.92 | 0.00 | 0 | 23.79 | -5.67 |
| 2018 (5) | 0.78 | -87.81 | -8.14 | 0 | 27.70 | 31.81 | 3.48 | -43.23 | 3.75 | -33.51 | 1.03 | -50.72 | 0.99 | -47.89 | 0.23 | -25.81 | 31.86 | 15.39 | 22.74 | 29.13 | -236.00 | 0 | 336.00 | 205.45 | 0.00 | 0 | 25.22 | 16.87 |
| 2017 (4) | 6.40 | 33.33 | -0.53 | 0 | 21.02 | -2.85 | 6.13 | 32.11 | 5.64 | 43.15 | 2.09 | 65.87 | 1.90 | 55.74 | 0.31 | 14.81 | 27.61 | -1.85 | 17.61 | -4.14 | -8.33 | 0 | 110.00 | -42.03 | 0.00 | 0 | 21.58 | -0.69 |
| 2016 (3) | 4.80 | -54.33 | -4.09 | 0 | 21.63 | 6.4 | 4.64 | 29.61 | 3.94 | 8.24 | 1.26 | 23.53 | 1.22 | 12.96 | 0.27 | 12.5 | 28.13 | 8.95 | 18.37 | -4.52 | -89.74 | 0 | 189.74 | 114.49 | 0.00 | 0 | 21.73 | -1.5 |
| 2015 (2) | 10.51 | 1030.11 | 0.37 | 0 | 20.33 | -2.16 | 3.58 | 0 | 3.64 | 0 | 1.02 | 0 | 1.08 | 0 | 0.24 | 4.35 | 25.82 | 78.93 | 19.24 | 12.19 | 11.54 | -84.95 | 88.46 | 279.12 | 0.00 | 0 | 22.06 | 15.92 |
| 2014 (1) | 0.93 | 0 | -6.65 | 0 | 20.78 | 52.49 | -8.69 | 0 | -9.14 | 0 | -2.38 | 0 | -1.96 | 0 | 0.23 | -25.81 | 14.43 | -20.89 | 17.15 | 44.24 | 76.67 | -49.69 | 23.33 | 0 | 0.00 | 0 | 19.03 | 6.31 |
