- 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) | -5.73 | -6.51 | -435.09 | -12.67 | -2.18 | -243.36 | -18.35 | -309.6 | -327.74 | -18.66 | -316.52 | -165.81 | -3.03 | -332.86 | -108.97 | -2.15 | -330.0 | -106.73 | 0.12 | 0.0 | -20.0 | -14.29 | -1420.21 | -852.67 | 43.88 | 39.21 | 52.52 | 68.42 | -73.68 | -17.89 | 31.58 | 119.74 | 89.47 | 16.32 | -7.95 | 20.09 |
| 23Q3 (19) | -5.38 | 2.0 | -270.25 | -12.40 | 1.27 | -588.89 | -4.48 | -129.02 | -169.46 | -4.48 | -129.02 | -169.46 | -0.70 | -133.65 | -142.68 | -0.50 | -130.49 | -140.32 | 0.12 | 20.0 | -36.84 | -0.94 | -104.98 | -111.35 | 31.52 | 14.45 | -17.16 | 260.00 | 430.91 | 966.67 | -160.00 | -189.6 | -223.08 | 17.73 | -8.66 | 51.15 |
| 23Q2 (18) | -5.49 | -49.59 | -172.72 | -12.56 | -25.73 | -530.14 | 15.44 | 271.56 | 84.47 | 15.44 | 271.56 | 87.38 | 2.08 | 242.47 | 3.48 | 1.64 | 251.85 | 8.61 | 0.10 | -16.67 | -44.44 | 18.89 | 394.24 | 77.04 | 27.54 | -17.96 | -22.38 | -78.57 | -171.43 | -355.36 | 178.57 | 1885.71 | 190.18 | 19.41 | 10.91 | 59.23 |
| 23Q1 (17) | -3.67 | -314.62 | -184.56 | -9.99 | -170.73 | -1010.0 | -9.00 | -109.79 | -257.62 | -9.00 | -28.21 | -257.62 | -1.46 | -0.69 | -219.67 | -1.08 | -3.85 | -217.39 | 0.12 | -20.0 | -20.0 | -6.42 | -328.0 | -175.89 | 33.57 | 16.68 | -7.88 | 110.00 | 32.0 | 870.0 | -10.00 | -160.0 | -107.78 | 17.50 | 28.77 | 23.41 |
| 22Q4 (16) | 1.71 | -45.89 | -80.21 | -3.69 | -105.0 | -205.13 | -4.29 | -166.51 | -320.0 | -7.02 | -208.84 | -738.18 | -1.45 | -188.41 | -680.0 | -1.04 | -183.87 | -595.24 | 0.15 | -21.05 | -6.25 | -1.50 | -118.12 | -133.26 | 28.77 | -24.39 | -27.59 | 83.33 | 377.78 | -50.0 | 16.67 | -87.18 | 125.0 | 13.59 | 15.86 | 0.89 |
| 22Q3 (15) | 3.16 | -58.15 | -53.32 | -1.80 | -161.64 | -190.0 | 6.45 | -22.94 | 2831.82 | 6.45 | -21.72 | 2831.82 | 1.64 | -18.41 | 3180.0 | 1.24 | -17.88 | 1671.43 | 0.19 | 5.56 | 11.76 | 8.28 | -22.4 | 179.73 | 38.05 | 7.24 | -15.89 | -30.00 | -197.5 | 0 | 130.00 | 111.25 | 0 | 11.73 | -3.77 | -7.57 |
| 22Q2 (14) | 7.55 | 73.96 | -31.3 | 2.92 | 424.44 | -50.76 | 8.37 | 46.58 | 0.0 | 8.24 | 44.31 | -1.55 | 2.01 | 64.75 | 15.52 | 1.51 | 64.13 | 17.97 | 0.18 | 20.0 | 20.0 | 10.67 | 26.12 | -3.18 | 35.48 | -2.63 | -9.0 | 30.77 | 315.38 | -56.04 | 61.54 | -52.14 | 105.13 | 12.19 | -14.03 | -16.33 |
| 22Q1 (13) | 4.34 | -49.77 | -63.38 | -0.90 | -125.64 | -113.72 | 5.71 | 192.82 | 11.74 | 5.71 | 419.09 | 11.74 | 1.22 | 388.0 | 25.77 | 0.92 | 338.1 | 27.78 | 0.15 | -6.25 | 7.14 | 8.46 | 87.58 | 0.59 | 36.44 | -8.28 | -8.85 | -14.29 | -108.57 | -110.2 | 128.57 | 292.86 | 421.43 | 14.18 | 5.27 | -4.83 |
| 21Q4 (12) | 8.64 | 27.62 | 87.01 | 3.51 | 75.5 | 880.0 | 1.95 | 786.36 | 307.45 | 1.10 | 400.0 | 227.91 | 0.25 | 400.0 | 278.57 | 0.21 | 200.0 | 362.5 | 0.16 | -5.88 | 33.33 | 4.51 | 52.36 | 118.93 | 39.73 | -12.18 | -6.28 | 166.67 | 0 | 0 | -66.67 | 0 | 0 | 13.47 | 6.15 | 2.05 |
| 21Q3 (11) | 6.77 | -38.4 | 244.35 | 2.00 | -66.27 | 117.24 | 0.22 | -97.37 | 101.23 | 0.22 | -97.37 | 101.23 | 0.05 | -97.13 | 101.81 | 0.07 | -94.53 | 103.38 | 0.17 | 13.33 | 41.67 | 2.96 | -73.14 | 120.08 | 45.24 | 16.03 | 38.6 | 0.00 | -100.0 | -100.0 | 0.00 | -100.0 | -100.0 | 12.69 | -12.9 | -14.49 |
| 21Q2 (10) | 10.99 | -7.26 | 139.79 | 5.93 | -9.6 | 114.85 | 8.37 | 63.8 | 136.3 | 8.37 | 63.8 | 138.06 | 1.74 | 79.38 | 190.63 | 1.28 | 77.78 | 191.43 | 0.15 | 7.14 | 114.29 | 11.02 | 31.03 | 185.03 | 38.99 | -2.48 | 27.21 | 70.00 | -50.0 | -58.64 | 30.00 | 175.0 | 143.33 | 14.57 | -2.21 | 0 |
| 21Q1 (9) | 11.85 | 156.49 | 466.99 | 6.56 | 1557.78 | 286.89 | 5.11 | 643.62 | 132.65 | 5.11 | 694.19 | 132.74 | 0.97 | 792.86 | 132.33 | 0.72 | 1000.0 | 133.03 | 0.14 | 16.67 | 0.0 | 8.41 | 308.25 | 173.9 | 39.98 | -5.69 | 9.87 | 140.00 | 0 | 565.0 | -40.00 | 0 | -150.67 | 14.90 | 12.88 | 0 |
| 20Q4 (8) | 4.62 | 198.51 | 60.98 | -0.45 | 96.12 | 72.56 | -0.94 | 94.74 | 55.02 | -0.86 | 95.17 | 56.57 | -0.14 | 94.93 | 70.83 | -0.08 | 96.14 | 71.43 | 0.12 | 0.0 | -29.41 | 2.06 | 113.98 | 60.94 | 42.39 | 29.87 | 12.53 | -0.00 | -100.0 | -100.0 | -0.00 | -100.0 | -100.0 | 13.20 | -11.05 | 10.37 |
| 20Q3 (7) | -4.69 | 83.02 | -51.29 | -11.60 | 70.96 | -51.63 | -17.88 | 22.46 | -132.21 | -17.82 | 18.96 | -138.24 | -2.76 | -43.75 | -47.59 | -2.07 | -47.86 | -54.48 | 0.12 | 71.43 | -33.33 | -14.74 | -13.73 | -247.64 | 32.64 | 6.49 | -9.71 | 64.71 | -61.76 | -35.29 | 35.29 | 150.98 | 0 | 14.84 | 0 | 23.05 |
| 20Q2 (6) | -27.62 | -1421.53 | -2889.9 | -39.94 | -1037.89 | -1015.64 | -23.06 | -47.35 | -553.94 | -21.99 | -40.87 | -561.97 | -1.92 | 36.0 | -262.71 | -1.40 | 35.78 | -252.17 | 0.07 | -50.0 | -61.11 | -12.96 | -13.88 | -251.76 | 30.65 | -15.77 | -11.19 | 169.23 | 703.85 | 325.64 | -69.23 | -187.69 | -139.56 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 2.09 | -27.18 | 448.33 | -3.51 | -114.02 | 40.81 | -15.65 | -648.8 | -387.54 | -15.61 | -688.38 | -400.32 | -3.00 | -525.0 | -354.55 | -2.18 | -678.57 | -354.17 | 0.14 | -17.65 | -6.67 | -11.38 | -989.06 | 0 | 36.39 | -3.4 | 3.2 | 21.05 | -78.95 | -89.47 | 78.95 | 136.84 | 178.95 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 2.87 | 192.58 | 0.0 | -1.64 | 78.56 | 0.0 | -2.09 | 72.86 | 0.0 | -1.98 | 73.53 | 0.0 | -0.48 | 74.33 | 0.0 | -0.28 | 79.1 | 0.0 | 0.17 | -5.56 | 0.0 | 1.28 | 130.19 | 0.0 | 37.67 | 4.2 | 0.0 | 100.00 | 0.0 | 0.0 | 33.33 | 0 | 0.0 | 11.96 | -0.83 | 0.0 |
| 19Q3 (3) | -3.10 | -413.13 | 0.0 | -7.65 | -113.69 | 0.0 | -7.70 | -251.57 | 0.0 | -7.48 | -257.14 | 0.0 | -1.87 | -258.47 | 0.0 | -1.34 | -245.65 | 0.0 | 0.18 | 0.0 | 0.0 | -4.24 | -149.65 | 0.0 | 36.15 | 4.75 | 0.0 | 100.00 | 233.33 | 0.0 | 0.00 | -100.0 | 0.0 | 12.06 | 1.86 | 0.0 |
| 19Q2 (2) | 0.99 | 265.0 | 0.0 | -3.58 | 39.63 | 0.0 | 5.08 | 258.26 | 0.0 | 4.76 | 252.56 | 0.0 | 1.18 | 278.79 | 0.0 | 0.92 | 291.67 | 0.0 | 0.18 | 20.0 | 0.0 | 8.54 | 0 | 0.0 | 34.51 | -2.13 | 0.0 | -75.00 | -137.5 | 0.0 | 175.00 | 275.0 | 0.0 | 11.84 | -13.64 | 0.0 |
| 19Q1 (1) | -0.60 | 0.0 | 0.0 | -5.93 | 0.0 | 0.0 | -3.21 | 0.0 | 0.0 | -3.12 | 0.0 | 0.0 | -0.66 | 0.0 | 0.0 | -0.48 | 0.0 | 0.0 | 0.15 | 0.0 | 0.0 | 0.00 | 0.0 | 0.0 | 35.26 | 0.0 | 0.0 | 200.00 | 0.0 | 0.0 | -100.00 | 0.0 | 0.0 | 13.71 | 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) | -5.04 | 0 | -11.87 | 0 | 3.17 | 50.61 | -4.84 | 0 | -4.93 | 0 | -3.12 | 0 | -2.11 | 0 | 0.46 | -31.34 | -1.22 | 0 | 43.88 | 52.52 | 245.00 | 0 | -145.00 | 0 | 0.00 | 0 | 17.68 | 37.59 |
| 2022 (9) | 4.25 | -54.74 | -0.79 | 0 | 2.11 | -13.51 | 4.28 | 15.68 | 3.61 | 4.03 | 3.22 | 9.15 | 2.56 | 15.32 | 0.67 | 11.67 | 6.67 | 2.77 | 28.77 | -27.59 | -20.83 | 0 | 120.83 | 0 | 0.00 | 0 | 12.85 | -7.09 |
| 2021 (8) | 9.39 | 0 | 4.34 | 0 | 2.43 | -43.86 | 3.70 | 0 | 3.47 | 0 | 2.95 | 0 | 2.22 | 0 | 0.60 | 36.36 | 6.49 | 0 | 39.73 | -6.28 | 116.67 | 53.51 | -16.67 | 0 | 0.00 | 0 | 13.83 | -14.31 |
| 2020 (7) | -3.37 | 0 | -10.16 | 0 | 4.34 | 35.5 | -13.46 | 0 | -13.25 | 0 | -8.10 | 0 | -5.71 | 0 | 0.44 | -36.23 | -8.67 | 0 | 42.39 | 12.53 | 76.00 | -68.55 | 24.00 | 0 | 0.00 | 0 | 16.14 | 30.69 |
| 2019 (6) | 0.03 | -98.89 | -4.69 | 0 | 3.20 | 32.55 | -1.93 | 0 | -1.91 | 0 | -1.82 | 0 | -1.17 | 0 | 0.69 | -24.18 | 1.44 | -29.06 | 37.67 | -0.32 | 241.67 | 9.85 | -141.67 | 0 | 0.00 | 0 | 12.35 | 24.5 |
| 2018 (5) | 2.70 | -23.08 | -1.44 | 0 | 2.41 | -14.66 | -0.60 | 0 | -0.57 | 0 | -0.72 | 0 | -0.30 | 0 | 0.91 | -1.09 | 2.03 | -10.18 | 37.79 | -6.21 | 220.00 | 76.0 | -140.00 | 0 | 0.00 | 0 | 9.92 | -2.65 |
| 2017 (4) | 3.51 | -0.85 | -0.72 | 0 | 2.83 | -11.5 | -0.53 | 0 | -0.25 | 0 | -0.31 | 0 | -0.18 | 0 | 0.92 | 1.1 | 2.26 | -52.12 | 40.29 | 54.19 | 125.00 | 0 | -25.00 | 0 | 0.00 | 0 | 10.19 | -7.19 |
| 2016 (3) | 3.54 | 109.47 | -0.95 | 0 | 3.20 | 11.15 | 1.50 | 1566.67 | 1.45 | 752.94 | 1.65 | 650.0 | 1.33 | 638.89 | 0.91 | -15.74 | 4.72 | 63.89 | 26.13 | 9.24 | -60.00 | 0 | 160.00 | -90.59 | 0.00 | 0 | 10.98 | 18.96 |
| 2015 (2) | 1.69 | 0 | -2.16 | 0 | 2.88 | 7.06 | 0.09 | 0 | 0.17 | 0 | 0.22 | 0 | 0.18 | 0 | 1.08 | -3.57 | 2.88 | 1100.0 | 23.92 | -3.7 | -1700.00 | 0 | 1700.00 | 0 | 0.00 | 0 | 9.23 | 7.2 |
| 2014 (1) | -0.39 | 0 | -3.91 | 0 | 2.69 | 7.45 | -2.37 | 0 | -2.08 | 0 | -2.98 | 0 | -2.32 | 0 | 1.12 | 3.7 | 0.24 | 0 | 24.84 | -20.0 | 168.42 | 8.98 | -68.42 | 0 | 0.00 | 0 | 8.61 | 0.12 |
