- 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) | 16.08 | 124.58 | 358.52 | -21.00 | 30.78 | 65.86 | -34.55 | -44.2 | -94.21 | -34.55 | -44.2 | -92.69 | -5.42 | -57.56 | -213.29 | -2.32 | -61.11 | -256.92 | 0.07 | 0.0 | 40.0 | 2.71 | -83.59 | -90.38 | 120.01 | 12.58 | 11.75 | 60.78 | -51.84 | -82.59 | 39.22 | 249.6 | 115.85 | 39.31 | 4.63 | -20.59 |
| 23Q3 (19) | 7.16 | 252.34 | 146.25 | -30.34 | 38.55 | 59.92 | -23.96 | 43.17 | 58.42 | -23.96 | 43.17 | 58.42 | -3.44 | 28.93 | 30.65 | -1.44 | 28.36 | 33.02 | 0.07 | 16.67 | 75.0 | 16.51 | 54.3 | 407.45 | 106.60 | -0.85 | -7.32 | 126.21 | 8.18 | -3.52 | -26.21 | -51.23 | 16.5 | 37.57 | -17.52 | -15.4 |
| 23Q2 (18) | -4.70 | 72.34 | -149.16 | -49.37 | 25.68 | -43.94 | -42.16 | 36.63 | -62.28 | -42.16 | 36.63 | -62.28 | -4.84 | 25.77 | -60.26 | -2.01 | 32.09 | -58.27 | 0.06 | 20.0 | 20.0 | 10.70 | 186.99 | -14.81 | 107.51 | -2.4 | -7.38 | 116.67 | 16.67 | -11.49 | -17.33 | 0 | 45.52 | 45.55 | 0.8 | -7.31 |
| 23Q1 (17) | -16.99 | -173.15 | -291.33 | -66.43 | -8.0 | -144.77 | -66.53 | -273.97 | -214.12 | -66.53 | -271.05 | -214.12 | -6.52 | -276.88 | -107.64 | -2.96 | -355.38 | -108.45 | 0.05 | 0.0 | -28.57 | -12.30 | -143.66 | -252.04 | 110.15 | 2.57 | -2.86 | 100.00 | -71.36 | -21.85 | -0.00 | 100.0 | 100.0 | 45.19 | -8.71 | 22.57 |
| 22Q4 (16) | -6.22 | 59.82 | -218.25 | -61.51 | 18.75 | -82.63 | -17.79 | 69.13 | 41.56 | -17.93 | 68.89 | 38.32 | -1.73 | 65.12 | 57.7 | -0.65 | 69.77 | 67.82 | 0.05 | 25.0 | -28.57 | 28.17 | 624.58 | 7513.51 | 107.39 | -6.63 | 12.69 | 349.12 | 166.88 | 214.59 | -247.37 | -687.91 | -2286.38 | 49.50 | 11.46 | 16.97 |
| 22Q3 (15) | -15.48 | -261.92 | -145.32 | -75.70 | -120.7 | -62.97 | -57.63 | -121.82 | -11.66 | -57.63 | -121.82 | -11.66 | -4.96 | -64.24 | 21.14 | -2.15 | -69.29 | 34.05 | 0.04 | -20.0 | -42.86 | -5.37 | -142.75 | 64.1 | 115.02 | -0.91 | 26.13 | 130.81 | -0.76 | 45.22 | -31.40 | 1.33 | -416.47 | 44.41 | -9.63 | 3.28 |
| 22Q2 (14) | 9.56 | 7.66 | 32.23 | -34.30 | -26.38 | -65.78 | -25.98 | -22.66 | -30.88 | -25.98 | -22.66 | -30.88 | -3.02 | 3.82 | -2.37 | -1.27 | 10.56 | 16.99 | 0.05 | -28.57 | -37.5 | 12.56 | 55.25 | 42.57 | 116.08 | 2.37 | 38.84 | 131.82 | 3.01 | 26.71 | -31.82 | -13.77 | -689.09 | 49.14 | 33.28 | 16.75 |
| 22Q1 (13) | 8.88 | 68.82 | 9.77 | -27.14 | 19.42 | -64.58 | -21.18 | 30.42 | -64.57 | -21.18 | 27.14 | -64.57 | -3.14 | 23.23 | -37.12 | -1.42 | 29.7 | -16.39 | 0.07 | 0.0 | -30.0 | 8.09 | 2086.49 | -22.44 | 113.39 | 18.98 | 42.11 | 127.97 | 15.31 | 0.54 | -27.97 | -169.79 | 1.12 | 36.87 | -12.88 | 18.94 |
| 21Q4 (12) | 5.26 | 183.36 | -72.52 | -33.68 | 27.49 | -598.76 | -30.44 | 41.02 | -1168.33 | -29.07 | 43.67 | -662.99 | -4.09 | 34.98 | -484.29 | -2.02 | 38.04 | -494.12 | 0.07 | 0.0 | -36.36 | 0.37 | 102.47 | -98.11 | 95.30 | 4.51 | 33.64 | 110.98 | 23.2 | -45.93 | -10.37 | -204.49 | 89.63 | 42.32 | -1.58 | 25.24 |
| 21Q3 (11) | -6.31 | -187.28 | -149.45 | -46.45 | -124.5 | -332.09 | -51.61 | -160.0 | -560.82 | -51.61 | -160.0 | -560.82 | -6.29 | -113.22 | -355.8 | -3.26 | -113.07 | -328.95 | 0.07 | -12.5 | -36.36 | -14.96 | -269.81 | -216.06 | 91.19 | 9.07 | 47.75 | 90.08 | -13.41 | -34.88 | 9.92 | 346.03 | 125.88 | 43.00 | 2.16 | 28.97 |
| 21Q2 (10) | 7.23 | -10.63 | -34.98 | -20.69 | -25.47 | -58.06 | -19.85 | -54.23 | -87.62 | -19.85 | -54.23 | -87.62 | -2.95 | -28.82 | -73.53 | -1.53 | -25.41 | -54.55 | 0.08 | -20.0 | -20.0 | 8.81 | -15.53 | -21.13 | 83.61 | 4.79 | 39.96 | 104.03 | -18.26 | -16.1 | -4.03 | 85.74 | 83.2 | 42.09 | 35.77 | 0 |
| 21Q1 (9) | 8.09 | -57.73 | 158.47 | -16.49 | -242.12 | 50.88 | -12.87 | -436.25 | 52.14 | -12.87 | -237.8 | 52.14 | -2.29 | -227.14 | 7.66 | -1.22 | -258.82 | 21.29 | 0.10 | -9.09 | 66.67 | 10.43 | -46.65 | 60.22 | 79.79 | 11.89 | 55.14 | 127.27 | -38.0 | 2.55 | -28.28 | 71.72 | -13.13 | 31.00 | -8.26 | 0 |
| 20Q4 (8) | 19.14 | 50.0 | -50.66 | -4.82 | 55.16 | -144.51 | -2.40 | 69.27 | -121.26 | -3.81 | 51.22 | -144.0 | -0.70 | 49.28 | -144.87 | -0.34 | 55.26 | -129.31 | 0.11 | 0.0 | -8.33 | 19.55 | 51.67 | -25.35 | 71.31 | 15.54 | 41.4 | 205.26 | 48.38 | 114.49 | -100.00 | -160.87 | -2425.0 | 33.79 | 1.35 | -1.34 |
| 20Q3 (7) | 12.76 | 14.75 | -65.56 | -10.75 | 17.88 | -172.83 | -7.81 | 26.18 | -149.0 | -7.81 | 26.18 | -164.81 | -1.38 | 18.82 | -140.95 | -0.76 | 23.23 | -133.04 | 0.11 | 10.0 | -38.89 | 12.89 | 15.4 | -53.91 | 61.72 | 3.31 | 40.91 | 138.33 | 11.56 | 50.19 | -38.33 | -59.72 | -629.7 | 33.34 | 0 | 38.28 |
| 20Q2 (6) | 11.12 | 255.27 | -70.17 | -13.09 | 61.01 | -171.57 | -10.58 | 60.65 | -145.29 | -10.58 | 60.65 | -150.94 | -1.70 | 31.45 | -117.05 | -0.99 | 36.13 | -115.87 | 0.10 | 66.67 | -65.52 | 11.17 | 71.58 | -65.98 | 59.74 | 16.16 | -13.52 | 124.00 | -0.09 | 58.69 | -24.00 | 4.0 | -209.78 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 3.13 | -91.93 | -90.45 | -33.57 | -409.97 | -366.01 | -26.89 | -338.18 | -270.51 | -26.89 | -410.51 | -270.51 | -2.48 | -258.97 | -149.7 | -1.55 | -233.62 | -147.55 | 0.06 | -50.0 | -70.0 | 6.51 | -75.14 | -79.04 | 51.43 | 1.98 | -8.29 | 124.11 | 29.68 | 54.75 | -25.00 | -681.25 | -226.25 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 38.79 | 4.7 | 0.0 | 10.83 | -26.63 | 0.0 | 11.29 | -29.17 | 0.0 | 8.66 | -28.13 | 0.0 | 1.56 | -53.71 | 0.0 | 1.16 | -49.57 | 0.0 | 0.12 | -33.33 | 0.0 | 26.19 | -6.36 | 0.0 | 50.43 | 15.14 | 0.0 | 95.70 | 3.9 | 0.0 | 4.30 | -40.57 | 0.0 | 34.25 | 42.06 | 0.0 |
| 19Q3 (3) | 37.05 | -0.62 | 0.0 | 14.76 | -19.3 | 0.0 | 15.94 | -31.76 | 0.0 | 12.05 | -41.98 | 0.0 | 3.37 | -66.2 | 0.0 | 2.30 | -63.14 | 0.0 | 0.18 | -37.93 | 0.0 | 27.97 | -14.8 | 0.0 | 43.80 | -36.6 | 0.0 | 92.11 | 17.88 | 0.0 | 7.24 | -66.9 | 0.0 | 24.11 | -21.31 | 0.0 |
| 19Q2 (2) | 37.28 | 13.8 | 0.0 | 18.29 | 44.93 | 0.0 | 23.36 | 48.13 | 0.0 | 20.77 | 31.71 | 0.0 | 9.97 | 99.8 | 0.0 | 6.24 | 91.41 | 0.0 | 0.29 | 45.0 | 0.0 | 32.83 | 5.7 | 0.0 | 69.08 | 23.18 | 0.0 | 78.14 | -2.57 | 0.0 | 21.86 | 10.4 | 0.0 | 30.64 | 22.22 | 0.0 |
| 19Q1 (1) | 32.76 | 0.0 | 0.0 | 12.62 | 0.0 | 0.0 | 15.77 | 0.0 | 0.0 | 15.77 | 0.0 | 0.0 | 4.99 | 0.0 | 0.0 | 3.26 | 0.0 | 0.0 | 0.20 | 0.0 | 0.0 | 31.06 | 0.0 | 0.0 | 56.08 | 0.0 | 0.0 | 80.20 | 0.0 | 0.0 | 19.80 | 0.0 | 0.0 | 25.07 | 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) | 2.04 | 38.78 | -39.44 | 0 | 39.16 | 13.43 | -39.91 | 0 | -39.91 | 0 | -20.48 | 0 | -8.72 | 0 | 0.24 | 9.09 | 5.31 | -50.92 | 120.01 | 11.75 | 98.70 | -37.49 | 1.13 | 0 | 0.55 | -9.16 | 41.47 | -5.9 |
| 2022 (9) | 1.47 | -66.05 | -45.02 | 0 | 34.52 | 29.07 | -28.55 | 0 | -28.58 | 0 | -12.88 | 0 | -5.80 | 0 | 0.22 | -33.33 | 10.82 | 302.23 | 107.39 | 12.69 | 157.89 | 51.95 | -57.68 | 0 | 0.61 | -16.53 | 44.07 | 13.55 |
| 2021 (8) | 4.33 | -66.04 | -27.46 | 0 | 26.75 | 23.76 | -26.41 | 0 | -26.11 | 0 | -15.51 | 0 | -8.12 | 0 | 0.33 | -10.81 | 2.69 | -79.99 | 95.30 | 33.64 | 103.91 | -21.7 | -3.91 | 0 | 0.73 | -13.14 | 38.81 | 6.13 |
| 2020 (7) | 12.75 | -65.3 | -13.11 | 0 | 21.61 | 86.19 | -9.86 | 0 | -10.28 | 0 | -6.19 | 0 | -3.50 | 0 | 0.37 | -46.38 | 13.44 | -54.61 | 71.31 | 41.4 | 132.71 | 56.14 | -32.71 | 0 | 0.84 | 286.59 | 36.57 | 27.55 |
| 2019 (6) | 36.74 | 0 | 14.51 | 0 | 11.61 | -55.28 | 17.07 | 0 | 14.59 | 0 | 15.48 | 0 | 10.44 | 0 | 0.69 | 38.0 | 29.61 | 251.25 | 50.43 | -19.27 | 84.99 | -38.81 | 15.01 | 0 | 0.22 | -36.68 | 28.67 | -24.41 |
| 2018 (5) | -0.82 | 0 | -26.21 | 0 | 25.96 | -50.62 | -18.84 | 0 | -18.84 | 0 | -14.36 | 0 | -9.10 | 0 | 0.50 | 78.57 | 8.43 | 0 | 62.47 | 51.11 | 138.91 | 17.48 | -38.91 | 0 | 0.34 | 0 | 37.93 | -22.58 |
| 2017 (4) | -27.63 | 0 | -68.79 | 0 | 52.57 | 2.36 | -58.16 | 0 | -59.89 | 0 | -26.60 | 0 | -16.02 | 0 | 0.28 | -12.5 | -3.08 | 0 | 41.34 | -54.26 | 118.24 | 10.68 | -18.24 | 0 | 0.00 | 0 | 48.99 | 24.43 |
| 2016 (3) | -18.68 | 0 | -52.29 | 0 | 51.35 | -14.9 | -48.94 | 0 | -48.94 | 0 | -28.24 | 0 | -14.99 | 0 | 0.32 | 39.13 | 4.78 | 0 | 90.38 | 19.05 | 106.83 | -2.76 | -6.83 | 0 | 0.00 | 0 | 39.37 | -18.3 |
| 2015 (2) | -38.88 | 0 | -79.12 | 0 | 60.34 | 69.55 | -72.06 | 0 | -72.34 | 0 | -27.04 | 0 | -16.50 | 0 | 0.23 | -20.69 | -9.33 | 0 | 75.92 | 57.31 | 109.86 | -8.49 | -9.86 | 0 | 0.00 | 0 | 48.19 | 79.28 |
| 2014 (1) | -7.13 | 0 | -29.90 | 0 | 35.59 | 197.91 | -24.86 | 0 | -25.35 | 0 | -12.66 | 0 | -7.05 | 0 | 0.29 | -56.72 | 12.13 | -34.47 | 48.26 | -48.52 | 120.05 | 75.03 | -20.30 | 0 | 0.00 | 0 | 26.88 | 41.47 |
