- 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) | 1.31 | -91.65 | -91.13 | -162.34 | -0.57 | -62.5 | -240.35 | -255.86 | -63.72 | -210.13 | -223.87 | -28.16 | -1.62 | -217.65 | 28.95 | -0.73 | -461.54 | 33.64 | 0.00 | 0 | -100.0 | -158.33 | -786.01 | -82.07 | 81.60 | 3.28 | 11.63 | 66.67 | -71.43 | -1.45 | 33.33 | 125.0 | 3.03 | 48.36 | -7.39 | 161.12 |
| 23Q3 (19) | 15.68 | 3.16 | 197.15 | -161.42 | -155.45 | -73.33 | -67.54 | -27.1 | -52.49 | -64.88 | -27.27 | -75.92 | -0.51 | 31.08 | 1.92 | -0.13 | 51.85 | 40.91 | 0.00 | -100.0 | -100.0 | 23.08 | 365.29 | 377.07 | 79.01 | -3.68 | 23.84 | 233.33 | 86.67 | 11.59 | -133.33 | -700.0 | -22.22 | 52.22 | 165.08 | 148.55 |
| 23Q2 (18) | 15.20 | 207.42 | 146.35 | -63.19 | 50.93 | -65.38 | -53.14 | 43.24 | -88.71 | -50.98 | 45.09 | -113.66 | -0.74 | 22.11 | -29.82 | -0.27 | 34.15 | -8.0 | 0.01 | 0.0 | 0.0 | -8.70 | 75.35 | -18.85 | 82.03 | 6.63 | 28.15 | 125.00 | -9.09 | -6.25 | -16.67 | 55.56 | 50.0 | 19.70 | -29.21 | 64.03 |
| 23Q1 (17) | -14.15 | -195.8 | -715.22 | -128.78 | -28.91 | -322.51 | -93.63 | 36.22 | -864.33 | -92.85 | 43.37 | -1119.21 | -0.95 | 58.33 | -600.0 | -0.41 | 62.73 | -295.24 | 0.01 | 0.0 | 0.0 | -35.29 | 59.42 | -195.02 | 76.93 | 5.24 | 30.15 | 137.50 | 103.26 | 150.0 | -37.50 | -215.91 | -110.0 | 27.83 | 50.27 | 117.93 |
| 22Q4 (16) | 14.77 | 191.51 | 172.01 | -99.90 | -7.27 | -430.82 | -146.81 | -231.47 | -1487.14 | -163.96 | -344.58 | -1389.19 | -2.28 | -338.46 | -551.43 | -1.10 | -400.0 | -685.71 | 0.01 | 0.0 | -50.0 | -86.96 | -943.94 | -1664.03 | 73.10 | 14.58 | 16.87 | 67.65 | -67.65 | -66.18 | 32.35 | 129.66 | 132.35 | 18.52 | -11.85 | 63.32 |
| 22Q3 (15) | -16.14 | -361.59 | -371.72 | -93.13 | -143.73 | -318.75 | -44.29 | -57.28 | -972.4 | -36.88 | -54.57 | -978.36 | -0.52 | 8.77 | -372.73 | -0.22 | 12.0 | -2100.0 | 0.01 | 0.0 | -50.0 | -8.33 | -13.8 | -191.64 | 63.80 | -0.33 | 24.88 | 209.09 | 56.82 | -65.15 | -109.09 | -227.27 | 78.18 | 21.01 | 74.94 | 119.54 |
| 22Q2 (14) | 6.17 | 168.26 | -44.41 | -38.21 | -25.36 | -58.81 | -28.16 | -329.88 | -178.54 | -23.86 | -361.91 | -182.37 | -0.57 | -400.0 | -137.5 | -0.25 | -219.05 | -177.78 | 0.01 | 0.0 | -50.0 | -7.32 | -119.71 | -217.12 | 64.01 | 8.29 | 33.49 | 133.33 | 148.48 | -39.39 | -33.33 | -108.89 | 76.19 | 12.01 | -5.95 | -10.57 |
| 22Q1 (13) | 2.30 | -57.64 | -83.31 | -30.48 | -61.96 | 10.83 | 12.25 | 232.43 | 165.86 | 9.11 | 182.74 | 161.22 | 0.19 | 154.29 | 155.88 | 0.21 | 250.0 | 250.0 | 0.01 | -50.0 | 0.0 | 37.14 | 567.99 | 1275.56 | 59.11 | -5.5 | 4.45 | -275.00 | -237.5 | -248.08 | 375.00 | 475.0 | 537.5 | 12.77 | 12.61 | -34.34 |
| 21Q4 (12) | 5.43 | -8.59 | -72.56 | -18.82 | 15.38 | -177.99 | -9.25 | -123.97 | -148.89 | -11.01 | -221.93 | -173.2 | -0.35 | -218.18 | -171.43 | -0.14 | -1300.0 | -136.84 | 0.02 | 0.0 | 0.0 | 5.56 | -38.83 | -82.99 | 62.55 | 22.43 | 13.48 | 200.00 | -66.67 | 600.0 | -100.00 | 80.0 | -176.92 | 11.34 | 18.5 | 11.72 |
| 21Q3 (11) | 5.94 | -46.49 | -70.36 | -22.24 | 7.56 | -367.23 | -4.13 | 59.15 | -165.45 | -3.42 | 59.53 | -161.29 | -0.11 | 54.17 | -147.83 | -0.01 | 88.89 | -104.55 | 0.02 | 0.0 | -33.33 | 9.09 | 45.44 | -44.64 | 51.09 | 6.55 | -1.28 | 600.00 | 172.73 | 900.0 | -500.00 | -257.14 | -385.71 | 9.57 | -28.74 | 9.87 |
| 21Q2 (10) | 11.10 | -19.45 | 119.8 | -24.06 | 29.61 | -170.03 | -10.11 | 45.65 | 25.11 | -8.45 | 43.21 | 24.15 | -0.24 | 29.41 | 63.64 | -0.09 | 35.71 | 75.0 | 0.02 | 100.0 | -50.0 | 6.25 | 131.48 | 229.67 | 47.95 | -15.27 | -9.56 | 220.00 | 18.46 | 245.71 | -140.00 | -63.33 | -485.0 | 13.43 | -30.95 | 0 |
| 21Q1 (9) | 13.78 | -30.37 | 251.76 | -34.18 | -404.87 | -26.73 | -18.60 | -198.31 | 21.35 | -14.88 | -198.94 | 22.18 | -0.34 | -169.39 | 64.58 | -0.14 | -136.84 | 74.55 | 0.01 | -50.0 | -66.67 | 2.70 | -91.74 | 120.93 | 56.59 | 2.67 | 0.04 | 185.71 | 564.29 | 63.87 | -85.71 | -165.93 | -542.86 | 19.45 | 91.63 | 141.61 |
| 20Q4 (8) | 19.79 | -1.25 | 235.99 | -6.77 | -42.23 | -130.27 | 18.92 | 199.84 | 6424.14 | 15.04 | 169.53 | 150500.0 | 0.49 | 113.04 | 0 | 0.38 | 72.73 | 245.45 | 0.02 | -33.33 | -66.67 | 32.69 | 99.09 | 413.99 | 55.12 | 6.51 | -5.66 | -40.00 | 46.67 | 0 | 130.00 | -25.71 | 0 | 10.15 | 16.53 | 127.07 |
| 20Q3 (7) | 20.04 | 296.83 | 373.77 | -4.76 | 46.58 | 69.95 | 6.31 | 146.74 | 131.15 | 5.58 | 150.09 | 134.23 | 0.23 | 134.85 | 112.85 | 0.22 | 161.11 | 124.72 | 0.03 | -25.0 | -50.0 | 16.42 | 440.66 | 210.35 | 51.75 | -2.4 | -35.21 | -75.00 | -217.86 | -198.68 | 175.00 | 381.25 | 775.0 | 8.71 | 0 | 133.51 |
| 20Q2 (6) | 5.05 | 155.62 | 648.91 | -8.91 | 66.96 | 9.91 | -13.50 | 42.92 | -112.93 | -11.14 | 41.74 | -82.92 | -0.66 | 31.25 | -4.76 | -0.36 | 34.55 | -44.0 | 0.04 | 33.33 | -33.33 | -4.82 | 62.64 | -454.02 | 53.02 | -6.28 | -32.51 | 63.64 | -43.85 | -59.5 | 36.36 | 372.73 | 163.64 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | -9.08 | -254.16 | -322.55 | -26.97 | -817.35 | -1554.6 | -23.65 | -8255.17 | -950.72 | -19.12 | -191100.0 | -917.09 | -0.96 | 0 | -313.33 | -0.55 | -600.0 | -252.78 | 0.03 | -50.0 | -72.73 | -12.90 | -302.83 | -329.13 | 56.57 | -3.18 | -27.29 | 113.33 | 0 | 326.67 | -13.33 | 0 | -108.89 | 8.05 | 80.09 | 214.45 |
| 19Q4 (4) | 5.89 | 180.46 | 0.0 | -2.94 | 81.44 | 0.0 | 0.29 | 101.43 | 0.0 | -0.01 | 99.94 | 0.0 | 0.00 | 100.0 | 0.0 | 0.11 | 112.36 | 0.0 | 0.06 | 0.0 | 0.0 | 6.36 | 142.74 | 0.0 | 58.43 | -26.84 | 0.0 | 0.00 | -100.0 | 0.0 | 0.00 | -100.0 | 0.0 | 4.47 | 19.84 | 0.0 |
| 19Q3 (3) | -7.32 | -695.65 | 0.0 | -15.84 | -60.16 | 0.0 | -20.26 | -219.56 | 0.0 | -16.30 | -167.65 | 0.0 | -1.79 | -184.13 | 0.0 | -0.89 | -256.0 | 0.0 | 0.06 | 0.0 | 0.0 | -14.88 | -1610.34 | 0.0 | 79.87 | 1.67 | 0.0 | 76.00 | -51.64 | 0.0 | 20.00 | 135.0 | 0.0 | 3.73 | -18.56 | 0.0 |
| 19Q2 (2) | -0.92 | -122.55 | 0.0 | -9.89 | -506.75 | 0.0 | -6.34 | -328.06 | 0.0 | -6.09 | -360.26 | 0.0 | -0.63 | -240.0 | 0.0 | -0.25 | -169.44 | 0.0 | 0.06 | -45.45 | 0.0 | -0.87 | -115.45 | 0.0 | 78.56 | 0.98 | 0.0 | 157.14 | 414.29 | 0.0 | -57.14 | -138.1 | 0.0 | 4.58 | 78.91 | 0.0 |
| 19Q1 (1) | 4.08 | 0.0 | 0.0 | -1.63 | 0.0 | 0.0 | 2.78 | 0.0 | 0.0 | 2.34 | 0.0 | 0.0 | 0.45 | 0.0 | 0.0 | 0.36 | 0.0 | 0.0 | 0.11 | 0.0 | 0.0 | 5.63 | 0.0 | 0.0 | 77.80 | 0.0 | 0.0 | -50.00 | 0.0 | 0.0 | 150.00 | 0.0 | 0.0 | 2.56 | 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) | 5.12 | 119.74 | -118.05 | 0 | 32.31 | 90.77 | -101.80 | 0 | -94.58 | 0 | -3.84 | 0 | -1.56 | 0 | 0.02 | -50.0 | -36.92 | 0 | 81.60 | 11.63 | 114.93 | -17.0 | -16.42 | 0 | 0.00 | 0 | 33.58 | 120.78 |
| 2022 (9) | 2.33 | -72.81 | -58.39 | 0 | 16.94 | 55.65 | -42.20 | 0 | -43.46 | 0 | -3.21 | 0 | -1.38 | 0 | 0.04 | -42.86 | -9.68 | 0 | 73.10 | 16.87 | 138.46 | -42.81 | -38.46 | 0 | 0.00 | 0 | 15.21 | 17.82 |
| 2021 (8) | 8.57 | 1.9 | -24.03 | 0 | 10.88 | 36.79 | -9.81 | 0 | -8.98 | 0 | -1.04 | 0 | -0.36 | 0 | 0.07 | -41.67 | 6.22 | -3.42 | 62.55 | 13.48 | 242.11 | -6.28 | -147.37 | 0 | 0.00 | 0 | 12.91 | 57.82 |
| 2020 (7) | 8.41 | 794.68 | -11.70 | 0 | 7.95 | 178.41 | -4.50 | 0 | -3.64 | 0 | -0.67 | 0 | -0.16 | 0 | 0.12 | -58.62 | 6.44 | 0 | 55.12 | -5.66 | 258.33 | 81.53 | -158.33 | 0 | 0.00 | 0 | 8.18 | 126.59 |
| 2019 (6) | 0.94 | -30.88 | -6.67 | 0 | 2.86 | 268.57 | -4.58 | 0 | -3.89 | 0 | -1.87 | 0 | -0.71 | 0 | 0.29 | -63.29 | 0.00 | 0 | 58.43 | -20.22 | 142.31 | 0 | -46.15 | 0 | 0.00 | 0 | 3.61 | 143.92 |
| 2018 (5) | 1.36 | -30.61 | -1.64 | 0 | 0.78 | -25.71 | 0.52 | 0 | -1.10 | 0 | -1.52 | 0 | -0.46 | 0 | 0.79 | 31.67 | 1.94 | 2055.56 | 73.24 | -2.63 | -312.50 | 0 | 425.00 | 0 | 0.00 | 0 | 1.48 | -34.8 |
| 2017 (4) | 1.96 | -86.4 | -2.22 | 0 | 1.04 | -64.44 | -1.69 | 0 | -1.41 | 0 | -1.41 | 0 | -0.48 | 0 | 0.60 | 160.87 | 0.09 | -98.89 | 75.22 | 31.09 | 136.84 | 36.84 | -31.58 | 0 | 0.00 | 0 | 2.27 | -61.59 |
| 2016 (3) | 14.41 | 0 | 2.87 | 0 | 2.93 | 31.63 | 3.02 | 0 | 2.22 | 0 | 0.81 | 0 | 0.89 | 0 | 0.23 | -11.54 | 8.13 | 0 | 57.38 | -7.93 | 100.00 | 343.53 | 7.69 | -90.07 | 0.00 | 0 | 5.91 | 43.45 |
| 2015 (2) | -4.48 | 0 | -13.52 | 0 | 2.23 | 58.28 | -60.01 | 0 | -58.27 | 0 | -26.34 | 0 | -14.51 | 0 | 0.26 | -35.0 | -55.41 | 0 | 62.32 | -27.48 | 22.55 | -60.28 | 77.45 | 79.11 | 0.00 | 0 | 4.12 | 66.8 |
| 2014 (1) | 9.72 | 0 | 3.90 | 0 | 1.41 | 163.91 | 6.93 | 0 | 4.51 | 0 | 3.46 | 0 | 2.35 | 0 | 0.40 | -43.66 | 9.95 | -12.26 | 85.94 | -9.17 | 56.76 | -33.04 | 43.24 | 183.9 | 0.00 | 0 | 2.47 | 22.28 |
