- 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) | 4.43 | 65.3 | 186.86 | -6.65 | 16.67 | 65.38 | -9.71 | -208.25 | 61.71 | -9.15 | -160.68 | 61.26 | -1.95 | -137.8 | 57.42 | -1.37 | -163.46 | 57.45 | 0.16 | -5.88 | 14.29 | 0.00 | -100.0 | 100.0 | 33.66 | -17.56 | -14.42 | 62.50 | -73.21 | -20.83 | 25.00 | 118.75 | -5.0 | 27.15 | 14.9 | -8.65 |
| 23Q3 (19) | 2.68 | -61.88 | 70.7 | -7.98 | -149.38 | 34.27 | -3.15 | -209.76 | -75.98 | -3.51 | -227.17 | -20.62 | -0.82 | -217.14 | -57.69 | -0.52 | -192.86 | -73.33 | 0.17 | -5.56 | 30.77 | 5.56 | -50.97 | -49.95 | 40.83 | 0.62 | 4.32 | 233.33 | 333.33 | -74.07 | -133.33 | -166.67 | 80.95 | 23.63 | -1.91 | -23.92 |
| 23Q2 (18) | 7.03 | -19.47 | 3.84 | -3.20 | -74.86 | 25.23 | 2.87 | 242.79 | 600.0 | 2.76 | 241.54 | 851.72 | 0.70 | 237.25 | 775.0 | 0.56 | 286.67 | 330.77 | 0.18 | -5.26 | 0.0 | 11.34 | 90.91 | 22.46 | 40.58 | 3.76 | -9.54 | -100.00 | -200.0 | 0 | 200.00 | 0 | 0 | 24.09 | 6.22 | 6.17 |
| 23Q1 (17) | 8.73 | 271.18 | 390.45 | -1.83 | 90.47 | 80.39 | -2.01 | 92.07 | 73.38 | -1.95 | 91.74 | 74.87 | -0.51 | 88.86 | 73.3 | -0.30 | 90.68 | 75.0 | 0.19 | 35.71 | 18.75 | 5.94 | 141.05 | 203.06 | 39.11 | -0.56 | -19.16 | 100.00 | 26.67 | -11.11 | -0.00 | -100.0 | 100.0 | 22.68 | -23.69 | -8.73 |
| 22Q4 (16) | -5.10 | -424.84 | -172.96 | -19.21 | -58.24 | -710.55 | -25.36 | -1316.76 | -1022.12 | -23.62 | -711.68 | -935.96 | -4.58 | -780.77 | -593.94 | -3.22 | -973.33 | -820.0 | 0.14 | 7.69 | -26.32 | -14.47 | -230.24 | -348.2 | 39.33 | 0.49 | -25.36 | 78.95 | -91.23 | -21.05 | 26.32 | 103.76 | 0 | 29.72 | -4.31 | 36.27 |
| 22Q3 (15) | 1.57 | -76.81 | -62.97 | -12.14 | -183.64 | -130.8 | -1.79 | -536.59 | 61.83 | -2.91 | -1103.45 | 37.69 | -0.52 | -750.0 | 60.9 | -0.30 | -330.77 | 62.96 | 0.13 | -27.78 | -31.58 | 11.11 | 19.98 | 233.63 | 39.14 | -12.75 | -23.78 | 900.00 | 0 | 800.0 | -700.00 | 0 | -4100.0 | 31.06 | 36.89 | 37.31 |
| 22Q2 (14) | 6.77 | 280.34 | 212.09 | -4.28 | 54.13 | 76.94 | 0.41 | 105.43 | 103.03 | 0.29 | 103.74 | 102.16 | 0.08 | 104.19 | 102.91 | 0.13 | 110.83 | 107.14 | 0.18 | 12.5 | 28.57 | 9.26 | 372.45 | 507.93 | 44.86 | -7.28 | -4.04 | 0.00 | -100.0 | -100.0 | 0.00 | 100.0 | 100.0 | 22.69 | -8.69 | -17.7 |
| 22Q1 (13) | 1.78 | -74.54 | 119.73 | -9.33 | -293.67 | 62.0 | -7.55 | -234.07 | 64.93 | -7.76 | -240.35 | 64.73 | -1.91 | -189.39 | 47.38 | -1.20 | -242.86 | 51.61 | 0.16 | -15.79 | 33.33 | 1.96 | -66.38 | 128.61 | 48.38 | -8.18 | 13.67 | 112.50 | 12.5 | 0.0 | -25.00 | 0 | -100.0 | 24.85 | 13.94 | -20.56 |
| 21Q4 (12) | 6.99 | 64.86 | 246.54 | -2.37 | 54.94 | 88.13 | -2.26 | 51.81 | 84.37 | -2.28 | 51.18 | 84.29 | -0.66 | 50.38 | 71.55 | -0.35 | 56.79 | 77.56 | 0.19 | 0.0 | 72.73 | 5.83 | 75.08 | 0 | 52.69 | 2.61 | 31.36 | 100.00 | 0.0 | -26.67 | -0.00 | 100.0 | 100.0 | 21.81 | -3.58 | -26.96 |
| 21Q3 (11) | 4.24 | 170.2 | 138.51 | -5.26 | 71.66 | 83.26 | -4.69 | 65.28 | 80.05 | -4.67 | 65.25 | 80.46 | -1.33 | 51.64 | 60.42 | -0.81 | 55.49 | 64.47 | 0.19 | 35.71 | 90.0 | 3.33 | 246.7 | 154.95 | 51.35 | 9.84 | 23.88 | 100.00 | -25.0 | -23.81 | -16.67 | 50.0 | 46.67 | 22.62 | -17.95 | -40.32 |
| 21Q2 (10) | -6.04 | 33.04 | -211.85 | -18.56 | 24.4 | -93.74 | -13.51 | 37.25 | -607.33 | -13.44 | 38.91 | -784.21 | -2.75 | 24.24 | -882.14 | -1.82 | 26.61 | -1720.0 | 0.14 | 16.67 | 7.69 | -2.27 | 66.86 | -119.76 | 46.75 | 9.84 | 10.91 | 133.33 | 18.52 | -66.67 | -33.33 | -166.67 | 90.48 | 27.57 | -11.86 | -6.29 |
| 21Q1 (9) | -9.02 | -89.1 | -210.27 | -24.55 | -23.0 | -504.68 | -21.53 | -48.89 | -292.17 | -22.00 | -51.62 | -351.75 | -3.63 | -56.47 | -263.0 | -2.48 | -58.97 | -313.33 | 0.12 | 9.09 | -14.29 | -6.85 | 0 | -214.17 | 42.56 | 6.11 | -6.93 | 112.50 | -17.5 | 40.62 | -12.50 | 65.62 | -162.5 | 31.28 | 4.76 | 31.93 |
| 20Q4 (8) | -4.77 | 56.68 | -154.14 | -19.96 | 36.47 | -210.42 | -14.46 | 38.49 | -18.72 | -14.51 | 39.29 | -19.62 | -2.32 | 30.95 | -15.42 | -1.56 | 31.58 | -21.88 | 0.11 | 10.0 | 0.0 | 0.00 | 100.0 | -100.0 | 40.11 | -3.23 | -9.42 | 136.36 | 3.9 | 172.73 | -36.36 | -16.36 | -172.73 | 29.86 | -21.21 | 20.02 |
| 20Q3 (7) | -11.01 | -303.89 | -434.65 | -31.42 | -227.97 | -222.59 | -23.51 | -1130.89 | -153.07 | -23.90 | -1472.37 | -214.89 | -3.36 | -1100.0 | -104.88 | -2.28 | -2180.0 | -137.5 | 0.10 | -23.08 | -28.57 | -6.06 | -152.74 | -317.99 | 41.45 | -1.66 | -15.99 | 131.25 | -67.19 | 19.32 | -31.25 | 91.07 | 0 | 37.90 | 28.82 | 48.05 |
| 20Q2 (6) | 5.40 | -33.99 | -58.37 | -9.58 | -135.96 | -506.33 | -1.91 | 65.21 | -195.5 | -1.52 | 68.79 | -185.88 | -0.28 | 72.0 | -180.0 | -0.10 | 83.33 | -132.26 | 0.13 | -7.14 | 0.0 | 11.49 | 91.5 | -18.05 | 42.15 | -7.83 | -34.1 | 400.00 | 400.0 | 500.0 | -350.00 | -1850.0 | -275.0 | 29.42 | 24.08 | -4.29 |
| 20Q1 (5) | 8.18 | -7.15 | -45.32 | -4.06 | 36.86 | -241.96 | -5.49 | 54.93 | -180.97 | -4.87 | 59.85 | -173.79 | -1.00 | 50.25 | -160.24 | -0.60 | 53.12 | -147.24 | 0.14 | 27.27 | -22.22 | 6.00 | 145.9 | -62.69 | 45.73 | 3.27 | -3.77 | 80.00 | 60.0 | 100.0 | 20.00 | -60.0 | -66.67 | 23.71 | -4.7 | -3.62 |
| 19Q4 (4) | 8.81 | 167.78 | 0.0 | -6.43 | 33.98 | 0.0 | -12.18 | -31.11 | 0.0 | -12.13 | -59.82 | 0.0 | -2.01 | -22.56 | 0.0 | -1.28 | -33.33 | 0.0 | 0.11 | -21.43 | 0.0 | 2.44 | -12.23 | 0.0 | 44.28 | -10.26 | 0.0 | 50.00 | -54.55 | 0.0 | 50.00 | 0 | 0.0 | 24.88 | -2.81 | 0.0 |
| 19Q3 (3) | 3.29 | -74.63 | 0.0 | -9.74 | -516.46 | 0.0 | -9.29 | -564.5 | 0.0 | -7.59 | -528.81 | 0.0 | -1.64 | -568.57 | 0.0 | -0.96 | -409.68 | 0.0 | 0.14 | 7.69 | 0.0 | 2.78 | -80.17 | 0.0 | 49.34 | -22.86 | 0.0 | 110.00 | 210.0 | 0.0 | -0.00 | -100.0 | 0.0 | 25.60 | -16.72 | 0.0 |
| 19Q2 (2) | 12.97 | -13.3 | 0.0 | -1.58 | -155.24 | 0.0 | 2.00 | -70.5 | 0.0 | 1.77 | -73.18 | 0.0 | 0.35 | -78.92 | 0.0 | 0.31 | -75.59 | 0.0 | 0.13 | -27.78 | 0.0 | 14.02 | -12.81 | 0.0 | 63.96 | 34.6 | 0.0 | -100.00 | -350.0 | 0.0 | 200.00 | 233.33 | 0.0 | 30.74 | 24.96 | 0.0 |
| 19Q1 (1) | 14.96 | 0.0 | 0.0 | 2.86 | 0.0 | 0.0 | 6.78 | 0.0 | 0.0 | 6.60 | 0.0 | 0.0 | 1.66 | 0.0 | 0.0 | 1.27 | 0.0 | 0.0 | 0.18 | 0.0 | 0.0 | 16.08 | 0.0 | 0.0 | 47.52 | 0.0 | 0.0 | 40.00 | 0.0 | 0.0 | 60.00 | 0.0 | 0.0 | 24.60 | 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) | 5.87 | 229.78 | -4.74 | 0 | 7.59 | -15.35 | -2.69 | 0 | -2.67 | 0 | -2.59 | 0 | -1.65 | 0 | 0.71 | 16.39 | 6.23 | 147.22 | 33.66 | -14.42 | 170.00 | 28.65 | -80.00 | 0 | 0.00 | 0 | 24.26 | -8.42 |
| 2022 (9) | 1.78 | 368.42 | -10.48 | 0 | 8.96 | 2.7 | -7.77 | 0 | -7.72 | 0 | -6.91 | 0 | -4.43 | 0 | 0.61 | -3.17 | 2.52 | 152.0 | 39.33 | -25.36 | 132.14 | 10.63 | -35.71 | 0 | 0.00 | 0 | 26.49 | 5.75 |
| 2021 (8) | 0.38 | -40.62 | -10.84 | 0 | 8.73 | -24.89 | -8.98 | 0 | -9.05 | 0 | -8.36 | 0 | -5.39 | 0 | 0.63 | 28.57 | 1.00 | -72.75 | 52.69 | 31.36 | 119.44 | -17.88 | -19.44 | 0 | 0.00 | 0 | 25.05 | -15.06 |
| 2020 (7) | 0.64 | -93.88 | -14.65 | 0 | 11.62 | 15.94 | -10.20 | 0 | -9.99 | 0 | -6.96 | 0 | -4.52 | 0 | 0.49 | -19.67 | 3.67 | -62.51 | 40.11 | -9.42 | 145.45 | -10.49 | -45.45 | 0 | 0.00 | 0 | 29.49 | 11.75 |
| 2019 (6) | 10.46 | -45.12 | -3.05 | 0 | 10.02 | 193.63 | -1.87 | 0 | -1.55 | 0 | -1.30 | 0 | -0.55 | 0 | 0.61 | -40.2 | 9.79 | -37.04 | 44.28 | 35.08 | 162.50 | 92.43 | -62.50 | 0 | 0.14 | -46.79 | 26.39 | 37.16 |
| 2018 (5) | 19.06 | -23.48 | 9.58 | -38.71 | 3.41 | 1.15 | 11.44 | -19.44 | 9.35 | -20.02 | 13.05 | -21.95 | 9.57 | -20.71 | 1.02 | -0.97 | 15.55 | -15.72 | 32.78 | -17.78 | 84.44 | -23.45 | 16.67 | 0 | 0.27 | 0 | 19.24 | 11.6 |
| 2017 (4) | 24.91 | -23.85 | 15.63 | -33.32 | 3.37 | -14.91 | 14.20 | -38.53 | 11.69 | -39.05 | 16.72 | -36.83 | 12.07 | -29.54 | 1.03 | 15.73 | 18.45 | -33.27 | 39.87 | 6.63 | 110.32 | 8.81 | -10.32 | 0 | 0.00 | 0 | 17.24 | 3.42 |
| 2016 (3) | 32.71 | -1.03 | 23.44 | -4.44 | 3.97 | -28.25 | 23.10 | -4.27 | 19.18 | -3.33 | 26.47 | 6.82 | 17.13 | 3.57 | 0.89 | 7.23 | 27.65 | -8.11 | 37.39 | -47.69 | 101.39 | -0.3 | -1.39 | 0 | 0.00 | 0 | 16.67 | 5.91 |
| 2015 (2) | 33.05 | 7.83 | 24.53 | 7.02 | 5.53 | -9.23 | 24.13 | 1.47 | 19.84 | 0.66 | 24.78 | -13.14 | 16.54 | -22.13 | 0.83 | -23.15 | 30.09 | -0.89 | 71.48 | 115.3 | 101.69 | 5.5 | -1.69 | 0 | 0.00 | 0 | 15.74 | 6.28 |
| 2014 (1) | 30.65 | 0 | 22.92 | 0 | 6.09 | -32.72 | 23.78 | 0 | 19.71 | 0 | 28.53 | 0 | 21.24 | 0 | 1.08 | 8.0 | 30.36 | 34.51 | 33.20 | -7.08 | 96.39 | 6.49 | 3.61 | -61.93 | 0.00 | 0 | 14.81 | -10.51 |
