- 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) | 41.56 | -3.21 | -1.33 | -90.66 | -43.54 | 44.4 | -75.53 | -5710.0 | 48.56 | -75.53 | -5710.0 | 48.56 | -1.55 | -7650.0 | 28.57 | -1.50 | -7400.0 | 28.57 | 0.02 | 0.0 | 100.0 | -46.81 | -258.41 | 56.98 | 3.52 | 2.62 | -8.09 | 120.00 | -95.56 | 9.09 | -20.00 | 99.26 | -100.0 | 67.41 | -2.88 | -23.03 |
| 23Q3 (19) | 42.94 | 3.1 | 8.19 | -63.16 | 14.86 | 33.85 | -1.30 | 97.72 | 91.34 | -1.30 | 97.72 | 91.34 | -0.02 | 97.96 | 90.91 | -0.02 | 97.89 | 90.48 | 0.02 | 0.0 | 100.0 | 29.55 | 228.03 | 25.58 | 3.43 | 1.18 | 22.94 | 2700.00 | 1948.28 | 321.88 | -2700.00 | -8385.71 | -400.0 | 69.41 | -11.16 | -20.23 |
| 23Q2 (18) | 41.65 | 4.2 | 9.17 | -74.18 | -7.66 | 20.95 | -57.06 | -18.33 | 27.39 | -57.06 | -18.33 | 27.39 | -0.98 | -40.0 | 11.71 | -0.95 | -41.79 | 12.04 | 0.02 | 100.0 | 100.0 | -23.08 | -153.91 | 41.41 | 3.39 | 3.04 | 18.53 | 131.82 | -8.3 | 10.56 | -31.82 | 27.27 | -65.45 | 78.13 | -2.68 | -10.64 |
| 23Q1 (17) | 39.97 | -5.1 | -16.97 | -68.90 | 57.75 | 37.24 | -48.22 | 67.16 | 50.64 | -48.22 | 67.16 | 50.64 | -0.70 | 67.74 | 51.39 | -0.67 | 68.1 | 51.8 | 0.01 | 0.0 | 0.0 | -9.09 | 91.65 | 84.85 | 3.29 | -14.1 | 30.04 | 143.75 | 30.68 | 28.62 | -43.75 | -337.5 | -271.88 | 80.28 | -8.34 | -2.4 |
| 22Q4 (16) | 42.12 | 6.12 | -26.61 | -163.07 | -70.79 | -60.3 | -146.82 | -877.5 | -62.65 | -146.82 | -877.5 | -62.65 | -2.17 | -886.36 | -41.83 | -2.10 | -900.0 | -42.86 | 0.01 | 0.0 | -50.0 | -108.82 | -562.47 | -93.98 | 3.83 | 37.28 | 12.32 | 110.00 | -82.81 | -0.73 | -10.00 | 98.15 | 26.0 | 87.58 | 0.66 | 16.82 |
| 22Q3 (15) | 39.69 | 4.04 | -18.55 | -95.48 | -1.75 | -179.67 | -15.02 | 80.89 | -186.57 | -15.02 | 80.89 | -186.57 | -0.22 | 80.18 | -164.71 | -0.21 | 80.56 | -163.64 | 0.01 | 0.0 | -50.0 | 23.53 | 159.74 | -48.66 | 2.79 | -2.45 | -26.58 | 640.00 | 436.77 | 420.0 | -540.00 | -2708.0 | -272.8 | 87.01 | -0.48 | 39.33 |
| 22Q2 (14) | 38.15 | -20.75 | -0.03 | -93.84 | 14.53 | -40.65 | -78.58 | 19.57 | -35.04 | -78.58 | 19.57 | -35.04 | -1.11 | 22.92 | 16.54 | -1.08 | 22.3 | 14.96 | 0.01 | 0.0 | -50.0 | -39.39 | 34.35 | -14.01 | 2.86 | 13.04 | -35.44 | 119.23 | 6.68 | 3.12 | -19.23 | -63.46 | -23.08 | 87.43 | 6.3 | 45.18 |
| 22Q1 (13) | 48.14 | -16.12 | 14.56 | -109.79 | -7.92 | 26.47 | -97.70 | -8.23 | 29.81 | -97.70 | -8.23 | 29.81 | -1.44 | 5.88 | 15.79 | -1.39 | 5.44 | 13.66 | 0.01 | -50.0 | 0.0 | -60.00 | -6.95 | 31.82 | 2.53 | -25.81 | -47.18 | 111.76 | 0.86 | 2.94 | -11.76 | 12.94 | -37.25 | 82.25 | 9.71 | -24.1 |
| 21Q4 (12) | 57.39 | 17.77 | 11.55 | -101.73 | -197.98 | -4.98 | -90.27 | -620.29 | 8.62 | -90.27 | -620.29 | 8.62 | -1.53 | -550.0 | 16.85 | -1.47 | -545.45 | 14.53 | 0.02 | 0.0 | 0.0 | -56.10 | -222.41 | 0.27 | 3.41 | -10.26 | -45.96 | 110.81 | 155.41 | 10.81 | -13.51 | -104.32 | -518.92 | 74.97 | 20.05 | -18.11 |
| 21Q3 (11) | 48.73 | 27.7 | 58.99 | -34.14 | 48.83 | 82.36 | 17.35 | 129.82 | 111.31 | 17.35 | 129.82 | 111.31 | 0.34 | 125.56 | 116.11 | 0.33 | 125.98 | 116.75 | 0.02 | 0.0 | 100.0 | 45.83 | 232.65 | 149.99 | 3.80 | -14.22 | -47.59 | -200.00 | -272.97 | -256.52 | 312.50 | 2100.0 | 1350.0 | 62.45 | 3.7 | -54.73 |
| 21Q2 (10) | 38.16 | -9.19 | -35.29 | -66.72 | 55.31 | 64.67 | -58.19 | 58.19 | -5142.34 | -58.19 | 58.19 | -404.68 | -1.33 | 22.22 | -731.25 | -1.27 | 21.12 | -807.14 | 0.02 | 100.0 | 100.0 | -34.55 | 60.74 | -161.13 | 4.43 | -7.52 | -36.35 | 115.62 | 6.5 | 0 | -15.62 | -82.29 | 0 | 60.22 | -44.43 | 0 |
| 21Q1 (9) | 42.02 | -18.33 | -32.49 | -149.31 | -54.09 | 60.27 | -139.19 | -40.89 | 61.3 | -139.19 | -40.89 | 61.3 | -1.71 | 7.07 | 39.79 | -1.61 | 6.4 | 39.25 | 0.01 | -50.0 | 0.0 | -88.00 | -56.44 | 67.31 | 4.79 | -24.09 | -31.28 | 108.57 | 8.57 | 2.18 | -8.57 | -365.71 | -105.71 | 108.36 | 18.36 | -53.81 |
| 20Q4 (8) | 51.45 | 67.86 | -8.97 | -96.90 | 49.93 | 85.82 | -98.79 | 35.59 | 84.63 | -98.79 | 35.59 | 84.63 | -1.84 | 12.8 | 63.64 | -1.72 | 12.69 | 63.56 | 0.02 | 100.0 | 100.0 | -56.25 | 38.64 | 89.21 | 6.31 | -12.97 | -15.07 | 100.00 | -21.74 | -5.21 | 3.23 | 112.9 | 148.92 | 91.55 | -33.63 | -62.36 |
| 20Q3 (7) | 30.65 | -48.02 | -54.03 | -193.53 | -2.47 | 39.26 | -153.37 | -13717.12 | 45.38 | -153.37 | -1230.18 | 45.38 | -2.11 | -1218.75 | 20.08 | -1.97 | -1307.14 | 20.88 | 0.01 | 0.0 | 0.0 | -91.67 | -262.19 | 49.73 | 7.25 | 4.17 | 8.21 | 127.78 | 0 | 11.81 | -25.00 | 0 | -75.0 | 137.94 | 0 | -23.69 |
| 20Q2 (6) | 58.97 | -5.25 | -17.98 | -188.86 | 49.74 | -60.11 | -1.11 | 99.69 | 98.6 | -11.53 | 96.79 | 85.47 | -0.16 | 94.37 | 88.32 | -0.14 | 94.72 | 89.15 | 0.01 | 0.0 | -50.0 | 56.52 | 120.99 | 269.58 | 6.96 | -0.14 | 34.36 | 0.00 | -100.0 | -100.0 | 0.00 | 100.0 | 100.0 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 62.24 | 10.12 | -4.95 | -375.79 | 44.99 | -159.85 | -359.62 | 44.04 | -187.56 | -359.62 | 44.04 | -187.56 | -2.84 | 43.87 | -41.29 | -2.65 | 43.86 | -40.21 | 0.01 | 0.0 | -50.0 | -269.23 | 48.37 | -233.83 | 6.97 | -6.19 | 17.54 | 106.25 | 0.72 | -7.92 | -4.17 | 36.81 | 72.92 | 234.61 | -3.54 | 135.55 |
| 19Q4 (4) | 56.52 | -15.24 | 0.0 | -683.15 | -114.4 | 0.0 | -642.67 | -128.89 | 0.0 | -642.67 | -128.89 | 0.0 | -5.06 | -91.67 | 0.0 | -4.72 | -89.56 | 0.0 | 0.01 | 0.0 | 0.0 | -521.43 | -185.95 | 0.0 | 7.43 | 10.9 | 0.0 | 105.49 | -7.69 | 0.0 | -6.59 | 53.85 | 0.0 | 243.23 | 34.56 | 0.0 |
| 19Q3 (3) | 66.68 | -7.26 | 0.0 | -318.64 | -170.13 | 0.0 | -280.78 | -253.72 | 0.0 | -280.78 | -253.72 | 0.0 | -2.64 | -92.7 | 0.0 | -2.49 | -93.02 | 0.0 | 0.01 | -50.0 | 0.0 | -182.35 | -447.1 | 0.0 | 6.70 | 29.34 | 0.0 | 114.29 | -23.81 | 0.0 | -14.29 | 71.43 | 0.0 | 180.76 | 91.0 | 0.0 |
| 19Q2 (2) | 71.90 | 9.8 | 0.0 | -117.96 | 18.43 | 0.0 | -79.38 | 36.53 | 0.0 | -79.38 | 36.53 | 0.0 | -1.37 | 31.84 | 0.0 | -1.29 | 31.75 | 0.0 | 0.02 | 0.0 | 0.0 | -33.33 | 58.67 | 0.0 | 5.18 | -12.65 | 0.0 | 150.00 | 30.0 | 0.0 | -50.00 | -225.0 | 0.0 | 94.64 | -4.98 | 0.0 |
| 19Q1 (1) | 65.48 | 0.0 | 0.0 | -144.62 | 0.0 | 0.0 | -125.06 | 0.0 | 0.0 | -125.06 | 0.0 | 0.0 | -2.01 | 0.0 | 0.0 | -1.89 | 0.0 | 0.0 | 0.02 | 0.0 | 0.0 | -80.65 | 0.0 | 0.0 | 5.93 | 0.0 | 0.0 | 115.38 | 0.0 | 0.0 | -15.38 | 0.0 | 0.0 | 99.60 | 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) | 41.63 | -1.12 | -74.88 | 0 | 27.78 | -14.77 | -45.63 | 0 | -45.63 | 0 | -3.26 | 0 | -3.13 | 0 | 0.07 | 16.67 | -12.96 | 0 | 3.52 | -8.09 | 164.86 | 20.76 | -64.86 | 0 | 3.15 | -9.22 | 73.16 | -14.95 |
| 2022 (9) | 42.10 | -9.19 | -115.65 | 0 | 32.59 | 22.4 | -84.69 | 0 | -84.69 | 0 | -4.92 | 0 | -4.74 | 0 | 0.06 | -25.0 | -45.93 | 0 | 3.83 | 12.32 | 136.52 | -0.71 | -36.52 | 0 | 3.47 | -4.84 | 86.02 | 20.19 |
| 2021 (8) | 46.36 | -6.46 | -78.20 | 0 | 26.63 | -47.88 | -56.54 | 0 | -56.54 | 0 | -4.67 | 0 | -4.45 | 0 | 0.08 | 60.0 | -24.85 | 0 | 3.41 | -45.96 | 137.50 | -6.18 | -38.54 | 0 | 3.64 | -32.7 | 71.57 | -46.93 |
| 2020 (7) | 49.56 | -25.57 | -185.64 | 0 | 51.09 | 3.26 | -126.63 | 0 | -129.24 | 0 | -6.87 | 0 | -6.42 | 0 | 0.05 | 0.0 | -66.30 | 0 | 6.31 | -15.07 | 146.55 | 46.55 | -46.55 | 0 | 5.41 | -3.87 | 134.85 | 0.63 |
| 2019 (6) | 66.59 | 29.98 | -214.96 | 0 | 49.47 | 43.07 | -214.45 | 0 | -214.45 | 0 | -11.08 | 0 | -10.36 | 0 | 0.05 | 0.0 | -146.32 | 0 | 7.43 | 17.01 | 100.00 | -22.3 | -0.00 | 0 | 5.63 | -14.36 | 134.01 | 9.45 |
| 2018 (5) | 51.23 | 14.25 | -250.19 | 0 | 34.58 | -46.65 | -194.24 | 0 | -194.24 | 0 | -10.38 | 0 | -9.79 | 0 | 0.05 | 150.0 | -143.93 | 0 | 6.35 | 15.04 | 128.71 | 17.18 | -28.71 | 0 | 6.58 | 0 | 122.44 | -35.33 |
| 2017 (4) | 44.84 | -10.18 | -496.99 | 0 | 64.81 | -52.34 | -451.73 | 0 | -451.73 | 0 | -11.11 | 0 | -10.57 | 0 | 0.02 | 100.0 | -359.26 | 0 | 5.52 | 16.7 | 109.84 | -1.65 | -9.84 | 0 | 0.00 | 0 | 189.33 | -51.37 |
| 2016 (3) | 49.92 | 287.28 | -956.12 | 0 | 136.00 | -16.0 | -854.93 | 0 | -915.59 | 0 | -9.93 | 0 | -9.62 | 0 | 0.01 | 0.0 | -660.00 | 0 | 4.73 | 151.6 | 111.68 | -0.49 | -11.68 | 0 | 0.00 | 0 | 389.33 | 0 |
| 2015 (2) | 12.89 | 534.98 | -1270.14 | 0 | 161.90 | 360.42 | -1130.58 | 0 | -1154.36 | 0 | -10.34 | 0 | -10.03 | 0 | 0.01 | -66.67 | -900.00 | 0 | 1.88 | -55.45 | 112.24 | 12.56 | -12.24 | 0 | 0.00 | 0 | 0.00 | 0 |
| 2014 (1) | 2.03 | 0 | -381.01 | 0 | 35.16 | 69.96 | -382.73 | 0 | -382.76 | 0 | -13.55 | 0 | -13.07 | 0 | 0.03 | -40.0 | -323.08 | 0 | 4.22 | 36.57 | 99.71 | -20.23 | 0.58 | 0 | 0.00 | 0 | 96.67 | 89.66 |
