- 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) | 23.24 | -3.85 | -10.06 | -16.58 | 22.92 | 17.39 | -66.28 | -262.38 | -105.52 | -64.44 | -245.71 | -103.09 | -10.06 | -339.3 | -110.46 | -4.98 | -378.85 | -53.23 | 0.08 | 33.33 | -20.0 | -59.65 | -444.75 | -114.11 | 99.76 | 13.54 | 73.98 | 24.78 | -78.64 | -60.18 | 75.22 | 570.13 | 99.12 | 29.63 | -22.82 | -23.81 |
| 23Q3 (19) | 24.17 | -6.17 | 0.96 | -21.51 | -1.18 | -9.69 | -18.29 | 57.06 | 1.19 | -18.64 | 55.98 | 8.85 | -2.29 | 60.65 | 22.11 | -1.04 | 65.79 | 50.48 | 0.06 | -14.29 | -40.0 | -10.95 | 70.48 | 27.19 | 87.86 | -9.51 | 168.19 | 116.00 | 132.0 | 11.54 | -16.00 | -132.0 | -300.0 | 38.39 | -1.66 | 12.71 |
| 23Q2 (18) | 25.76 | 14.39 | 0.16 | -21.26 | 15.4 | -51.86 | -42.59 | -137.8 | 7.71 | -42.34 | -137.68 | 9.37 | -5.82 | -142.3 | 11.01 | -3.04 | -135.98 | 35.73 | 0.07 | 0.0 | -30.0 | -37.09 | -131.33 | 13.04 | 97.09 | 36.27 | 129.47 | 50.00 | 325.81 | 65.79 | 50.00 | -59.3 | -28.41 | 39.04 | -4.45 | 17.2 |
| 23Q1 (17) | 22.52 | -12.85 | -6.09 | -25.13 | -25.21 | -281.91 | 112.66 | 449.33 | 271.69 | 112.36 | 454.11 | 310.82 | 13.76 | 387.87 | 233.17 | 8.45 | 360.0 | 176.14 | 0.07 | -30.0 | -36.36 | 118.40 | 524.98 | 250.5 | 71.25 | 24.26 | 116.3 | -22.14 | -135.59 | 0.36 | 122.86 | 225.21 | 0.52 | 40.86 | 5.07 | 35.48 |
| 22Q4 (16) | 25.84 | 7.94 | -2.56 | -20.07 | -2.35 | -1101.8 | -32.25 | -74.23 | -722.59 | -31.73 | -55.16 | -720.94 | -4.78 | -62.59 | -530.63 | -3.25 | -54.76 | -516.67 | 0.10 | 0.0 | -33.33 | -27.86 | -85.24 | -455.36 | 57.34 | 75.03 | 41.72 | 62.22 | -40.17 | 328.15 | 37.78 | 1044.44 | -70.32 | 38.89 | 14.18 | 76.77 |
| 22Q3 (15) | 23.94 | -6.92 | 26.0 | -19.61 | -40.07 | 11.27 | -18.51 | 59.89 | -55.94 | -20.45 | 56.23 | -75.99 | -2.94 | 55.05 | -73.96 | -2.10 | 55.6 | -107.92 | 0.10 | 0.0 | 11.11 | -15.04 | 64.74 | -87.3 | 32.76 | -22.57 | -43.42 | 104.00 | 244.84 | -44.53 | -4.00 | -105.73 | 95.43 | 34.06 | 2.25 | -9.25 |
| 22Q2 (14) | 25.72 | 7.26 | 53.83 | -14.00 | -112.77 | -12.09 | -46.15 | -252.26 | -403.62 | -46.72 | -270.82 | -873.51 | -6.54 | -258.35 | -663.79 | -4.73 | -254.58 | -756.94 | 0.10 | -9.09 | -9.09 | -42.65 | -226.26 | -332.68 | 42.31 | 28.45 | -32.7 | 30.16 | 235.71 | 135.4 | 69.84 | -42.86 | -62.29 | 33.31 | 10.44 | 25.51 |
| 22Q1 (13) | 23.98 | -9.58 | 15.62 | -6.58 | -294.01 | 14.99 | 30.31 | 485.14 | 422.1 | 27.35 | 435.23 | 382.25 | 4.13 | 272.07 | 296.67 | 3.06 | 292.31 | 385.98 | 0.11 | -26.67 | -8.33 | 33.78 | 330.87 | 627.81 | 32.94 | -18.59 | -64.49 | -22.22 | 18.52 | -126.39 | 122.22 | -3.97 | 674.07 | 30.16 | 37.09 | 24.47 |
| 21Q4 (12) | 26.52 | 39.58 | 203.43 | -1.67 | 92.44 | 96.95 | 5.18 | 143.64 | 113.31 | 5.11 | 143.98 | 112.68 | 1.11 | 165.68 | 116.74 | 0.78 | 177.23 | 119.6 | 0.15 | 66.67 | 50.0 | 7.84 | 197.63 | 122.95 | 40.46 | -30.12 | -41.2 | -27.27 | -114.55 | -119.52 | 127.27 | 245.45 | 420.73 | 22.00 | -41.38 | -47.0 |
| 21Q3 (11) | 19.00 | 13.64 | 572.64 | -22.10 | -76.94 | 52.6 | -11.87 | -178.09 | 79.18 | -11.62 | -292.38 | 81.72 | -1.69 | -245.69 | 84.45 | -1.01 | -240.28 | 85.17 | 0.09 | -18.18 | -18.18 | -8.03 | -143.81 | 83.3 | 57.90 | -7.91 | -1.61 | 187.50 | 320.11 | 129.91 | -87.50 | -147.25 | -574.34 | 37.53 | 41.41 | 26.96 |
| 21Q2 (10) | 16.72 | -19.38 | 372.32 | -12.49 | -61.37 | 66.43 | 15.20 | 261.53 | 135.82 | 6.04 | 162.33 | 114.34 | 1.16 | 155.24 | 118.5 | 0.72 | 167.29 | 118.23 | 0.11 | -8.33 | 10.0 | 18.33 | 386.41 | 156.3 | 62.87 | -32.22 | 11.99 | -85.19 | -201.16 | -197.16 | 185.19 | 1072.84 | 1402.06 | 26.54 | 9.53 | -9.26 |
| 21Q1 (9) | 20.74 | 137.3 | 47.93 | -7.74 | 85.84 | 68.5 | -9.41 | 75.82 | 69.55 | -9.69 | 75.96 | 69.24 | -2.10 | 68.33 | 49.4 | -1.07 | 73.12 | 58.2 | 0.12 | 20.0 | 50.0 | -6.40 | 81.26 | 68.58 | 92.75 | 34.79 | 73.2 | 84.21 | -39.71 | 5.26 | 15.79 | 139.79 | -21.05 | 24.23 | -41.63 | 0 |
| 20Q4 (8) | 8.74 | 317.41 | 40.29 | -54.67 | -17.27 | -144.83 | -38.91 | 31.76 | -44.92 | -40.31 | 36.6 | -53.27 | -6.63 | 39.01 | -21.65 | -3.98 | 41.56 | -15.7 | 0.10 | -9.09 | -23.08 | -34.16 | 28.94 | -65.83 | 68.81 | 16.92 | 19.17 | 139.68 | 71.28 | 67.62 | -39.68 | -315.12 | -338.1 | 41.51 | 40.43 | 89.46 |
| 20Q3 (7) | -4.02 | -213.56 | -120.69 | -46.62 | -25.29 | -945.29 | -57.02 | -34.35 | -537.09 | -63.58 | -50.95 | -611.98 | -10.87 | -73.37 | -517.61 | -6.81 | -72.41 | -502.65 | 0.11 | 10.0 | -15.38 | -48.07 | -47.64 | -1497.01 | 58.85 | 4.83 | 10.68 | 81.55 | -6.98 | 63.11 | 18.45 | 49.62 | -63.11 | 29.56 | 1.06 | 42.39 |
| 20Q2 (6) | 3.54 | -74.75 | -78.2 | -37.21 | -51.44 | -125.52 | -42.44 | -37.35 | -182.37 | -42.12 | -33.71 | -166.58 | -6.27 | -51.08 | -160.17 | -3.95 | -54.3 | -165.1 | 0.10 | 25.0 | 0.0 | -32.56 | -59.84 | -366.48 | 56.14 | 4.84 | 17.37 | 87.67 | 9.59 | -22.07 | 12.33 | -38.36 | 231.51 | 29.25 | 0 | 16.21 |
| 20Q1 (5) | 14.02 | 125.04 | 15.68 | -24.57 | -10.03 | -20.21 | -30.90 | -15.08 | -52.97 | -31.50 | -19.77 | -45.63 | -4.15 | 23.85 | -25.38 | -2.56 | 25.58 | -32.64 | 0.08 | -38.46 | -11.11 | -20.37 | 1.12 | -67.52 | 53.55 | -7.26 | -12.34 | 80.00 | -4.0 | -20.0 | 20.00 | 20.0 | 1000.0 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 6.23 | -67.94 | 0.0 | -22.33 | -400.67 | 0.0 | -26.85 | -200.0 | 0.0 | -26.30 | -194.51 | 0.0 | -5.45 | -209.66 | 0.0 | -3.44 | -204.42 | 0.0 | 0.13 | 0.0 | 0.0 | -20.60 | -584.39 | 0.0 | 57.74 | 8.6 | 0.0 | 83.33 | 66.67 | 0.0 | 16.67 | -66.67 | 0.0 | 21.91 | 5.54 | 0.0 |
| 19Q3 (3) | 19.43 | 19.64 | 0.0 | -4.46 | 72.97 | 0.0 | -8.95 | 40.45 | 0.0 | -8.93 | 43.48 | 0.0 | -1.76 | 26.97 | 0.0 | -1.13 | 24.16 | 0.0 | 0.13 | 30.0 | 0.0 | -3.01 | 56.88 | 0.0 | 53.17 | 11.16 | 0.0 | 50.00 | -55.56 | 0.0 | 50.00 | 633.33 | 0.0 | 20.76 | -17.52 | 0.0 |
| 19Q2 (2) | 16.24 | 33.99 | 0.0 | -16.50 | 19.28 | 0.0 | -15.03 | 25.59 | 0.0 | -15.80 | 26.95 | 0.0 | -2.41 | 27.19 | 0.0 | -1.49 | 22.8 | 0.0 | 0.10 | 11.11 | 0.0 | -6.98 | 42.6 | 0.0 | 47.83 | -21.71 | 0.0 | 112.50 | 12.5 | 0.0 | -9.38 | -321.87 | 0.0 | 25.17 | -7.02 | 0.0 |
| 19Q1 (1) | 12.12 | 0.0 | 0.0 | -20.44 | 0.0 | 0.0 | -20.20 | 0.0 | 0.0 | -21.63 | 0.0 | 0.0 | -3.31 | 0.0 | 0.0 | -1.93 | 0.0 | 0.0 | 0.09 | 0.0 | 0.0 | -12.16 | 0.0 | 0.0 | 61.09 | 0.0 | 0.0 | 100.00 | 0.0 | 0.0 | -2.22 | 0.0 | 0.0 | 27.07 | 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) | 23.96 | -3.62 | -20.78 | 0 | 2.57 | 30.28 | -10.60 | 0 | -10.15 | 0 | -5.93 | 0 | -2.65 | 0 | 0.33 | -17.5 | -4.29 | 0 | 99.76 | 73.98 | 195.16 | 106.92 | -95.16 | 0 | 2.61 | -37.9 | 36.52 | 7.25 |
| 2022 (9) | 24.86 | 18.16 | -14.89 | 0 | 1.97 | 19.15 | -15.73 | 0 | -16.99 | 0 | -10.02 | 0 | -6.60 | 0 | 0.40 | -18.37 | -12.03 | 0 | 57.34 | 41.72 | 94.32 | 0 | 5.68 | -99.77 | 4.20 | 274.94 | 34.05 | 27.62 |
| 2021 (8) | 21.04 | 299.24 | -9.92 | 0 | 1.66 | -73.36 | 0.36 | 0 | -1.97 | 0 | -1.50 | 0 | -0.71 | 0 | 0.49 | 28.95 | 3.59 | 0 | 40.46 | -41.2 | -2400.00 | 0 | 2466.67 | 54735.9 | 1.12 | -14.48 | 26.68 | -19.74 |
| 2020 (7) | 5.27 | -60.7 | -40.86 | 0 | 6.22 | 9.74 | -42.74 | 0 | -44.89 | 0 | -27.43 | 0 | -16.51 | 0 | 0.38 | -13.64 | -34.07 | 0 | 68.81 | 19.17 | 95.50 | 8.7 | 4.50 | -61.09 | 1.31 | -6.84 | 33.24 | 41.45 |
| 2019 (6) | 13.41 | 6.09 | -15.71 | 0 | 5.67 | 8.91 | -17.80 | 0 | -18.14 | 0 | -12.95 | 0 | -7.66 | 0 | 0.44 | 12.82 | -10.72 | 0 | 57.74 | -16.11 | 87.86 | -35.91 | 11.56 | 0 | 1.41 | 32.91 | 23.50 | -3.61 |
| 2018 (5) | 12.64 | -3.81 | -20.31 | 0 | 5.21 | 44.43 | -14.85 | 0 | -15.85 | 0 | -10.40 | 0 | -5.98 | 0 | 0.39 | -26.42 | -8.25 | 0 | 68.83 | 3.64 | 137.09 | 29.82 | -37.09 | 0 | 1.06 | 0 | 24.38 | 39.39 |
| 2017 (4) | 13.14 | -6.68 | -8.83 | 0 | 3.60 | 13.39 | -8.35 | 0 | -7.98 | 0 | -6.92 | 0 | -4.07 | 0 | 0.53 | -14.52 | -3.94 | 0 | 66.41 | 8.02 | 105.60 | 0 | -5.60 | 0 | 0.00 | 0 | 17.49 | 6.78 |
| 2016 (3) | 14.08 | -22.3 | -5.32 | 0 | 3.18 | -5.92 | 0.60 | 500.0 | 0.02 | 0 | 0.02 | 0 | 0.15 | 50.0 | 0.62 | 10.71 | 4.41 | 11.93 | 61.48 | 28.19 | -863.64 | 0 | 963.64 | -33.54 | 0.00 | 0 | 16.38 | 4.4 |
| 2015 (2) | 18.12 | -11.87 | -1.69 | 0 | 3.38 | 5.14 | 0.10 | -96.99 | -0.09 | 0 | -0.07 | 0 | 0.10 | -93.24 | 0.56 | 14.29 | 3.94 | -46.03 | 47.96 | 12.0 | -1350.00 | 0 | 1450.00 | 650.0 | 0.00 | 0 | 15.69 | -10.39 |
| 2014 (1) | 20.56 | 0 | -3.02 | 0 | 3.21 | 90.61 | 3.32 | 0 | 2.56 | 0 | 1.78 | 0 | 1.48 | 0 | 0.49 | -5.77 | 7.30 | 15.87 | 42.82 | 5.34 | -91.11 | 0 | 193.33 | 14.24 | 0.00 | 0 | 17.51 | 5.8 |
