- 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) | 19.09 | -26.72 | -37.12 | -40.11 | -54.27 | -283.83 | -70.40 | -147.8 | -861.75 | -70.81 | -142.25 | -775.28 | -13.17 | -139.45 | -755.19 | -9.31 | -148.27 | -812.75 | 0.13 | 0.0 | -7.14 | -48.65 | -411.03 | -696.2 | 37.17 | -11.39 | 2.68 | 57.69 | -37.06 | -53.85 | 42.31 | 407.69 | 184.62 | 58.33 | 16.01 | 629.12 |
| 23Q3 (19) | 26.05 | -18.62 | -35.71 | -26.00 | -37.57 | -1206.38 | -28.41 | -3.12 | -522.77 | -29.23 | -1.11 | -621.03 | -5.50 | -6.38 | -540.0 | -3.75 | -3.59 | -478.79 | 0.13 | 0.0 | -18.75 | -9.52 | 0.0 | -146.01 | 41.95 | -2.19 | 3.1 | 91.67 | 37.5 | 266.67 | 8.33 | -75.0 | -88.89 | 50.28 | 0.42 | 32.0 |
| 23Q2 (18) | 32.01 | 7.74 | -12.78 | -18.90 | -3.34 | -74.52 | -27.55 | -49.0 | -208.86 | -28.91 | -45.35 | -182.32 | -5.17 | -57.14 | -185.64 | -3.62 | -54.7 | -191.94 | 0.13 | 8.33 | 0.0 | -9.52 | 0 | -252.32 | 42.89 | 22.96 | 10.54 | 66.67 | -23.81 | -46.67 | 33.33 | 0 | 233.33 | 50.07 | 4.9 | 12.74 |
| 23Q1 (17) | 29.71 | -2.14 | -25.65 | -18.29 | -75.02 | -143.22 | -18.49 | -152.6 | -242.41 | -19.89 | -145.86 | -164.14 | -3.29 | -113.64 | -193.75 | -2.34 | -129.41 | -192.5 | 0.12 | -14.29 | 9.09 | 0.00 | -100.0 | -100.0 | 34.88 | -3.65 | 0.32 | 87.50 | -30.0 | -41.67 | -0.00 | 100.0 | 100.0 | 47.73 | 496.62 | 11.7 |
| 22Q4 (16) | 30.36 | -25.07 | -14.65 | -10.45 | -544.68 | 41.65 | -7.32 | -208.93 | -206.28 | -8.09 | -244.21 | -188.93 | -1.54 | -223.2 | -234.78 | -1.02 | -203.03 | -240.0 | 0.14 | -12.5 | 7.69 | 8.16 | -60.56 | -54.11 | 36.20 | -11.03 | 41.79 | 125.00 | 400.0 | -84.38 | -50.00 | -166.67 | 92.86 | 8.00 | -79.0 | -83.04 |
| 22Q3 (15) | 40.52 | 10.41 | 15.67 | 2.35 | 121.7 | 115.66 | 6.72 | 175.34 | 441.94 | 5.61 | 154.79 | 298.23 | 1.25 | 169.06 | 437.84 | 0.99 | 179.84 | 530.43 | 0.16 | 23.08 | 60.0 | 20.69 | 231.04 | 24.12 | 40.69 | 4.87 | 43.58 | 25.00 | -80.0 | 0 | 75.00 | 400.0 | 0 | 38.09 | -14.23 | -19.18 |
| 22Q2 (14) | 36.70 | -8.16 | 10.38 | -10.83 | -44.02 | 39.4 | -8.92 | -65.19 | 59.78 | -10.24 | -35.99 | 53.83 | -1.81 | -61.61 | 39.06 | -1.24 | -55.0 | 44.89 | 0.13 | 18.18 | 30.0 | 6.25 | -34.35 | 215.53 | 38.80 | 11.59 | 53.12 | 125.00 | -16.67 | 42.86 | -25.00 | 50.0 | -200.0 | 44.41 | 3.93 | -11.59 |
| 22Q1 (13) | 39.96 | 12.34 | 40.01 | -7.52 | 58.01 | 63.72 | -5.40 | -125.94 | 76.89 | -7.53 | -168.93 | 68.49 | -1.12 | -143.48 | 68.0 | -0.80 | -166.67 | 71.63 | 0.11 | -15.38 | -8.33 | 9.52 | -46.46 | 230.05 | 34.77 | 36.19 | 11.23 | 150.00 | -81.25 | 66.67 | -50.00 | 92.86 | -600.0 | 42.73 | -9.39 | -7.57 |
| 21Q4 (12) | 35.57 | 1.54 | -10.72 | -17.91 | -19.32 | 70.97 | -2.39 | -292.74 | 98.52 | -2.80 | 1.06 | 98.31 | -0.46 | -24.32 | 90.73 | -0.30 | -30.43 | 93.36 | 0.13 | 30.0 | 333.33 | 17.78 | 6.66 | 113.34 | 25.53 | -9.92 | 141.08 | 800.00 | 0 | 2140.0 | -700.00 | 0 | -1188.89 | 47.16 | 0.06 | -42.84 |
| 21Q3 (11) | 35.03 | 5.35 | -24.32 | -15.01 | 16.0 | 63.78 | 1.24 | 105.59 | 102.8 | -2.83 | 87.24 | 93.62 | -0.37 | 87.54 | 69.42 | -0.23 | 89.78 | 79.09 | 0.10 | 0.0 | 233.33 | 16.67 | 408.13 | 233.36 | 28.34 | 11.84 | 249.01 | 0.00 | -100.0 | -100.0 | 0.00 | -100.0 | 0 | 47.13 | -6.17 | -37.49 |
| 21Q2 (10) | 33.25 | 16.5 | -34.03 | -17.87 | 13.8 | 0.5 | -22.18 | 5.09 | 10.35 | -22.18 | 7.2 | 12.44 | -2.97 | 15.14 | -237.5 | -2.25 | 20.21 | -184.81 | 0.10 | -16.67 | 233.33 | -5.41 | 26.09 | 0 | 25.34 | -18.94 | 202.03 | 87.50 | -2.78 | 31.25 | 25.00 | 150.0 | -25.0 | 50.23 | 8.65 | 0 |
| 21Q1 (9) | 28.54 | -28.36 | -23.44 | -20.73 | 66.4 | 41.56 | -23.37 | 85.49 | -24.91 | -23.90 | 85.61 | -27.74 | -3.50 | 29.44 | -483.33 | -2.82 | 37.61 | -432.08 | 0.12 | 300.0 | 300.0 | -7.32 | 94.51 | 0 | 31.26 | 195.18 | 331.17 | 90.00 | 152.0 | -40.0 | 10.00 | -84.44 | 110.0 | 46.23 | -43.97 | -31.52 |
| 20Q4 (8) | 39.84 | -13.93 | 76.83 | -61.70 | -48.89 | -51.75 | -161.11 | -263.35 | -148.17 | -166.07 | -274.54 | -155.81 | -4.96 | -309.92 | -161.05 | -4.52 | -310.91 | -161.27 | 0.03 | 0.0 | 0.0 | -133.33 | -966.64 | -200.02 | 10.59 | 30.42 | 25.77 | 35.71 | -52.38 | -46.43 | 64.29 | 0 | 92.86 | 82.51 | 9.44 | 28.92 |
| 20Q3 (7) | 46.29 | -8.15 | 0.72 | -41.44 | -130.73 | -13.66 | -44.34 | -79.22 | -16.16 | -44.34 | -75.05 | -16.16 | -1.21 | -37.5 | -11.01 | -1.10 | -39.24 | -10.0 | 0.03 | 0.0 | 0.0 | -12.50 | 0 | -12.51 | 8.12 | -3.22 | 0.0 | 75.00 | 12.5 | -25.0 | -0.00 | -100.0 | 0 | 75.39 | 0 | 5.78 |
| 20Q2 (6) | 50.40 | 35.19 | -5.35 | -17.96 | 49.37 | 65.11 | -24.74 | -32.23 | 44.3 | -25.33 | -35.38 | 42.98 | -0.88 | -46.67 | 12.87 | -0.79 | -49.06 | 17.71 | 0.03 | 0.0 | 50.0 | -0.00 | 0 | 100.0 | 8.39 | 15.72 | 34.46 | 66.67 | -55.56 | -50.0 | 33.33 | 133.33 | 200.0 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 37.28 | 65.47 | -21.57 | -35.47 | 12.76 | 68.47 | -18.71 | 71.18 | 83.56 | -18.71 | 71.18 | 83.56 | -0.60 | 68.42 | 52.0 | -0.53 | 69.36 | 56.91 | 0.03 | 0.0 | 200.0 | 0.00 | 100.0 | 100.0 | 7.25 | -13.9 | 396.58 | 150.00 | 125.0 | 50.0 | -100.00 | -400.0 | 0 | 67.51 | 5.48 | -57.11 |
| 19Q4 (4) | 22.53 | -50.98 | 0.0 | -40.66 | -11.52 | 0.0 | -64.92 | -70.08 | 0.0 | -64.92 | -70.08 | 0.0 | -1.90 | -74.31 | 0.0 | -1.73 | -73.0 | 0.0 | 0.03 | 0.0 | 0.0 | -44.44 | -300.0 | 0.0 | 8.42 | 3.69 | 0.0 | 66.67 | -33.33 | 0.0 | 33.33 | 0 | 0.0 | 64.00 | -10.2 | 0.0 |
| 19Q3 (3) | 45.96 | -13.69 | 0.0 | -36.46 | 29.16 | 0.0 | -38.17 | 14.07 | 0.0 | -38.17 | 14.07 | 0.0 | -1.09 | -7.92 | 0.0 | -1.00 | -4.17 | 0.0 | 0.03 | 50.0 | 0.0 | -11.11 | 61.11 | 0.0 | 8.12 | 30.13 | 0.0 | 100.00 | -25.0 | 0.0 | 0.00 | 100.0 | 0.0 | 71.27 | -21.09 | 0.0 |
| 19Q2 (2) | 53.25 | 12.03 | 0.0 | -51.47 | 54.25 | 0.0 | -44.42 | 60.97 | 0.0 | -44.42 | 60.97 | 0.0 | -1.01 | 19.2 | 0.0 | -0.96 | 21.95 | 0.0 | 0.02 | 100.0 | 0.0 | -28.57 | 71.43 | 0.0 | 6.24 | 327.4 | 0.0 | 133.33 | 33.33 | 0.0 | -33.33 | 0 | 0.0 | 90.32 | -42.62 | 0.0 |
| 19Q1 (1) | 47.53 | 0.0 | 0.0 | -112.51 | 0.0 | 0.0 | -113.82 | 0.0 | 0.0 | -113.82 | 0.0 | 0.0 | -1.25 | 0.0 | 0.0 | -1.23 | 0.0 | 0.0 | 0.01 | 0.0 | 0.0 | -100.00 | 0.0 | 0.0 | 1.46 | 0.0 | 0.0 | 100.00 | 0.0 | 0.0 | 0.00 | 0.0 | 0.0 | 157.42 | 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) | 26.92 | -27.14 | -25.46 | 0 | 16.67 | 36.81 | -35.37 | 0 | -36.39 | 0 | -26.86 | 0 | -19.22 | 0 | 0.54 | -3.57 | -15.43 | 0 | 37.17 | 2.68 | 71.93 | -64.04 | 28.07 | 0 | 14.79 | 12.37 | 51.44 | 55.13 |
| 2022 (9) | 36.95 | 11.67 | -6.15 | 0 | 12.18 | -15.25 | -3.16 | 0 | -4.46 | 0 | -3.28 | 0 | -2.17 | 0 | 0.56 | 19.15 | 11.68 | 107.83 | 36.20 | 41.79 | 200.00 | 24.14 | -100.00 | 0 | 13.16 | -2.14 | 33.16 | -30.37 |
| 2021 (8) | 33.09 | -24.04 | -17.98 | 0 | 14.37 | -40.9 | -11.58 | 0 | -12.75 | 0 | -7.12 | 0 | -5.77 | 0 | 0.47 | 327.27 | 5.62 | 0 | 25.53 | 141.08 | 161.11 | 153.17 | -55.56 | 0 | 13.45 | 0 | 47.62 | -33.66 |
| 2020 (7) | 43.56 | 7.4 | -38.06 | 0 | 24.32 | 41.08 | -59.65 | 0 | -60.99 | 0 | -7.63 | 0 | -6.88 | 0 | 0.11 | 22.22 | -35.14 | 0 | 10.59 | 25.77 | 63.64 | -27.88 | 36.36 | 209.09 | 0.00 | 0 | 71.78 | -14.68 |
| 2019 (6) | 40.56 | 18.32 | -50.71 | 0 | 17.24 | 218.97 | -57.32 | 0 | -57.32 | 0 | -5.26 | 0 | -4.95 | 0 | 0.09 | -18.18 | -37.93 | 0 | 8.42 | 410.3 | 88.24 | 0 | 11.76 | -96.93 | 2.38 | 0 | 84.13 | 28.25 |
| 2018 (5) | 34.28 | 14.96 | -44.94 | 0 | 5.41 | 137.84 | 17.07 | 0 | 17.07 | 0 | 1.96 | 0 | 1.91 | 0 | 0.11 | -15.38 | 21.62 | 0 | 1.65 | -75.15 | -266.67 | 0 | 383.33 | 1433.33 | 0.00 | 0 | 65.60 | 39.78 |
| 2017 (4) | 29.82 | 3.87 | -48.98 | 0 | 2.27 | -85.91 | -64.33 | 0 | -64.33 | 0 | -8.86 | 0 | -8.30 | 0 | 0.13 | 62.5 | -61.36 | 0 | 6.64 | 6.58 | 78.57 | 0 | 25.00 | -78.06 | 0.00 | 0 | 46.93 | -0.36 |
| 2016 (3) | 28.71 | 0 | -75.16 | 0 | 16.13 | -47.0 | 540.34 | 0 | 469.89 | 0 | 58.30 | 0 | 45.15 | 0 | 0.08 | -50.0 | 548.39 | 0 | 6.23 | -89.7 | -13.94 | 0 | 113.94 | 551.08 | 0.00 | 0 | 47.10 | -29.29 |
| 2015 (2) | -25.59 | 0 | -95.20 | 0 | 30.43 | 0.57 | -116.07 | 0 | -116.07 | 0 | -31.39 | 0 | -17.35 | 0 | 0.16 | 0.0 | -75.36 | 0 | 60.46 | -21.58 | 81.25 | -23.26 | 17.50 | 0 | 0.00 | 0 | 66.61 | 17.04 |
| 2014 (1) | -33.84 | 0 | -95.03 | 0 | 30.26 | 73.11 | -89.57 | 0 | -89.57 | 0 | -22.51 | 0 | -12.87 | 0 | 0.16 | -36.0 | -50.00 | 0 | 77.10 | 56.68 | 105.88 | 93.16 | -5.88 | 0 | 0.00 | 0 | 56.91 | 111.64 |
