- 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) | 11.93 | 29.82 | 276.48 | -7.54 | 39.34 | 76.58 | -12.57 | -78.3 | 63.8 | -12.56 | -78.16 | 67.9 | -3.44 | -102.35 | 61.22 | -1.63 | -132.86 | 65.39 | 0.14 | 7.69 | 16.67 | 0.54 | -93.06 | 102.95 | 95.92 | 4.76 | 10.16 | 60.87 | -65.22 | -35.2 | 39.13 | 152.17 | 416.52 | 22.85 | -12.42 | -10.78 |
| 23Q3 (19) | 9.19 | 209.14 | 38.2 | -12.43 | 53.57 | 24.58 | -7.05 | 70.96 | 4.73 | -7.05 | 70.87 | 23.29 | -1.70 | 70.69 | 20.93 | -0.70 | 75.95 | 35.78 | 0.13 | 0.0 | 0.0 | 7.78 | 184.11 | 8.36 | 91.56 | -0.86 | 13.49 | 175.00 | 59.78 | -22.79 | -75.00 | -687.5 | 40.79 | 26.09 | 2.76 | 11.07 |
| 23Q2 (18) | -8.42 | 26.08 | -184.54 | -26.77 | 15.15 | -348.41 | -24.28 | 25.32 | -734.36 | -24.20 | 25.56 | -483.13 | -5.80 | 19.22 | -432.11 | -2.91 | 20.71 | -470.59 | 0.13 | 8.33 | -13.33 | -9.25 | 45.46 | -195.76 | 92.35 | 1.72 | 14.05 | 109.52 | 13.58 | -45.24 | -9.52 | -366.67 | 90.48 | 25.39 | -4.62 | 12.74 |
| 23Q1 (17) | -11.39 | -68.49 | -495.49 | -31.55 | 2.02 | -50.24 | -32.51 | 6.37 | -78.53 | -32.51 | 16.92 | -71.56 | -7.18 | 19.05 | -50.52 | -3.67 | 22.08 | -45.63 | 0.12 | 0.0 | -14.29 | -16.96 | 7.42 | -230.6 | 90.79 | 4.27 | 13.81 | 96.43 | 2.65 | -15.38 | 3.57 | -52.86 | 121.94 | 26.62 | 3.94 | 27.67 |
| 22Q4 (16) | -6.76 | -201.65 | -257.94 | -32.20 | -95.39 | -124.55 | -34.72 | -369.19 | -122.99 | -39.13 | -325.79 | -162.97 | -8.87 | -312.56 | -149.16 | -4.71 | -332.11 | -157.38 | 0.12 | -7.69 | -7.69 | -18.32 | -355.15 | -740.37 | 87.07 | 7.92 | 1.37 | 93.94 | -58.56 | 2.48 | 7.58 | 105.98 | -9.09 | 25.61 | 9.03 | 17.86 |
| 22Q3 (15) | 6.65 | -33.23 | -73.76 | -16.48 | -176.05 | -270.25 | -7.40 | -154.3 | -176.29 | -9.19 | -121.45 | -194.64 | -2.15 | -97.25 | -164.76 | -1.09 | -113.73 | -158.92 | 0.13 | -13.33 | -27.78 | 7.18 | -25.67 | -62.25 | 80.68 | -0.36 | -7.7 | 226.67 | 13.33 | 126.67 | -126.67 | -26.67 | 0 | 23.49 | 4.31 | 36.17 |
| 22Q2 (14) | 9.96 | 245.83 | -52.21 | -5.97 | 71.57 | -160.36 | -2.91 | 84.02 | -136.88 | -4.15 | 78.1 | -156.01 | -1.09 | 77.15 | -140.37 | -0.51 | 79.76 | -133.33 | 0.15 | 7.14 | -25.0 | 9.66 | 288.3 | -41.53 | 80.97 | 1.5 | -8.02 | 200.00 | 75.51 | 58.82 | -100.00 | -514.29 | -285.71 | 22.52 | 8.01 | 43.99 |
| 22Q1 (13) | 2.88 | -32.71 | -86.91 | -21.00 | -46.44 | -322.93 | -18.21 | -16.96 | -297.29 | -18.95 | -27.35 | -304.2 | -4.77 | -33.99 | -250.0 | -2.52 | -37.7 | -240.0 | 0.14 | 7.69 | -26.32 | -5.13 | -135.32 | -127.51 | 79.77 | -7.13 | -5.82 | 113.95 | 24.31 | 13.95 | -16.28 | -295.35 | -372.09 | 20.85 | -4.05 | 11.92 |
| 21Q4 (12) | 4.28 | -83.11 | -65.54 | -14.34 | -248.14 | -276.38 | -15.57 | -260.52 | -125.98 | -14.88 | -253.24 | -115.97 | -3.56 | -207.23 | -43.55 | -1.83 | -198.92 | -41.86 | 0.13 | -27.78 | -35.0 | -2.18 | -111.46 | -200.46 | 85.89 | -1.74 | 1.71 | 91.67 | -8.33 | 68.06 | 8.33 | 0 | -81.67 | 21.73 | 25.97 | 12.42 |
| 21Q3 (11) | 25.34 | 21.59 | 186.98 | 9.68 | -2.12 | 596.41 | 9.70 | 22.94 | 340.1 | 9.71 | 31.04 | 348.34 | 3.32 | 22.96 | 365.6 | 1.85 | 20.92 | 398.39 | 0.18 | -10.0 | 0.0 | 19.02 | 15.13 | 204.32 | 87.41 | -0.7 | 12.27 | 100.00 | -20.59 | 100.0 | 0.00 | 100.0 | -100.0 | 17.25 | 10.29 | -2.82 |
| 21Q2 (10) | 20.84 | -5.27 | 110.29 | 9.89 | 4.99 | 345.41 | 7.89 | -14.52 | 226.24 | 7.41 | -20.15 | 218.56 | 2.70 | -15.09 | 268.75 | 1.53 | -15.0 | 291.25 | 0.20 | 5.26 | 42.86 | 16.52 | -11.42 | 157.72 | 88.03 | 3.93 | 10.38 | 125.93 | 25.93 | 109.88 | -25.93 | -651.85 | -177.78 | 15.64 | -16.05 | 0 |
| 21Q1 (9) | 22.00 | 77.13 | 233.84 | 9.42 | 347.24 | 228.51 | 9.23 | 233.96 | 271.88 | 9.28 | 234.69 | 268.73 | 3.18 | 228.23 | 313.42 | 1.80 | 239.53 | 346.58 | 0.19 | -5.0 | 26.67 | 18.65 | 759.45 | 177.53 | 84.70 | 0.3 | 1.66 | 100.00 | 83.33 | -26.32 | -3.45 | -107.59 | 90.34 | 18.63 | -3.62 | -4.36 |
| 20Q4 (8) | 12.42 | 40.66 | 6.06 | -3.81 | -95.38 | 5.69 | -6.89 | -70.54 | -83.24 | -6.89 | -76.21 | -103.24 | -2.48 | -98.4 | -123.42 | -1.29 | -108.06 | -143.4 | 0.20 | 11.11 | 11.11 | 2.17 | -65.28 | -66.04 | 84.45 | 8.46 | 4.31 | 54.55 | 9.09 | -49.65 | 45.45 | -9.09 | 645.45 | 19.33 | 8.9 | 41.4 |
| 20Q3 (7) | 8.83 | -10.9 | -5.16 | -1.95 | 51.61 | 49.22 | -4.04 | 35.36 | 22.01 | -3.91 | 37.44 | 5.56 | -1.25 | 21.88 | -3.31 | -0.62 | 22.5 | -16.98 | 0.18 | 28.57 | 12.5 | 6.25 | -2.5 | -5.59 | 77.86 | -2.37 | -0.36 | 50.00 | -16.67 | -31.82 | 50.00 | 50.0 | 87.5 | 17.75 | 0 | -4.11 |
| 20Q2 (6) | 9.91 | 50.38 | -10.96 | -4.03 | 45.02 | -294.69 | -6.25 | -16.39 | -397.62 | -6.25 | -13.64 | -386.7 | -1.60 | -7.38 | -302.53 | -0.80 | -9.59 | -260.0 | 0.14 | -6.67 | -22.22 | 6.41 | -4.61 | -44.88 | 79.75 | -4.28 | -18.08 | 60.00 | -55.79 | -31.43 | 33.33 | 193.33 | 0 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 6.59 | -43.72 | -26.7 | -7.33 | -81.44 | -164.62 | -5.37 | -42.82 | -155.71 | -5.50 | -62.24 | -143.36 | -1.49 | -34.23 | -98.67 | -0.73 | -37.74 | -217.39 | 0.15 | -16.67 | -6.25 | 6.72 | 5.16 | -23.02 | 83.32 | 2.92 | -23.99 | 135.71 | 25.27 | 5.56 | -35.71 | -328.57 | -25.0 | 19.48 | 42.5 | 6.8 |
| 19Q4 (4) | 11.71 | 25.78 | 0.0 | -4.04 | -5.21 | 0.0 | -3.76 | 27.41 | 0.0 | -3.39 | 18.12 | 0.0 | -1.11 | 8.26 | 0.0 | -0.53 | 0.0 | 0.0 | 0.18 | 12.5 | 0.0 | 6.39 | -3.47 | 0.0 | 80.96 | 3.61 | 0.0 | 108.33 | 47.73 | 0.0 | -8.33 | -131.25 | 0.0 | 13.67 | -26.15 | 0.0 |
| 19Q3 (3) | 9.31 | -16.35 | 0.0 | -3.84 | -285.51 | 0.0 | -5.18 | -346.67 | 0.0 | -4.14 | -289.91 | 0.0 | -1.21 | -253.16 | 0.0 | -0.53 | -206.0 | 0.0 | 0.16 | -11.11 | 0.0 | 6.62 | -43.08 | 0.0 | 78.14 | -19.73 | 0.0 | 73.33 | -16.19 | 0.0 | 26.67 | 0 | 0.0 | 18.51 | 20.43 | 0.0 |
| 19Q2 (2) | 11.13 | 23.8 | 0.0 | 2.07 | 174.73 | 0.0 | 2.10 | 200.0 | 0.0 | 2.18 | 196.46 | 0.0 | 0.79 | 205.33 | 0.0 | 0.50 | 317.39 | 0.0 | 0.18 | 12.5 | 0.0 | 11.63 | 33.22 | 0.0 | 97.35 | -11.19 | 0.0 | 87.50 | -31.94 | 0.0 | 0.00 | 100.0 | 0.0 | 15.37 | -15.73 | 0.0 |
| 19Q1 (1) | 8.99 | 0.0 | 0.0 | -2.77 | 0.0 | 0.0 | -2.10 | 0.0 | 0.0 | -2.26 | 0.0 | 0.0 | -0.75 | 0.0 | 0.0 | -0.23 | 0.0 | 0.0 | 0.16 | 0.0 | 0.0 | 8.73 | 0.0 | 0.0 | 109.61 | 0.0 | 0.0 | 128.57 | 0.0 | 0.0 | -28.57 | 0.0 | 0.0 | 18.24 | 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) | 0.50 | -86.11 | -19.37 | 0 | 12.93 | -0.1 | -19.04 | 0 | -19.03 | 0 | -18.08 | 0 | -8.90 | 0 | 0.50 | -7.41 | -4.45 | 0 | 95.92 | 10.16 | 101.50 | -16.37 | -1.50 | 0 | 0.15 | -23.24 | 25.18 | 9.57 |
| 2022 (9) | 3.60 | -81.26 | -18.27 | 0 | 12.94 | 39.26 | -15.06 | 0 | -16.99 | 0 | -17.01 | 0 | -8.73 | 0 | 0.54 | -23.94 | -1.15 | 0 | 87.07 | 1.37 | 121.37 | -0.16 | -21.37 | 0 | 0.20 | 75.53 | 22.98 | 27.67 |
| 2021 (8) | 19.21 | 100.1 | 5.10 | 0 | 9.29 | -7.98 | 4.26 | 0 | 4.28 | 0 | 5.61 | 0 | 3.36 | 0 | 0.71 | 9.23 | 14.19 | 173.41 | 85.89 | 1.71 | 121.57 | 63.85 | -19.61 | 0 | 0.11 | 88.36 | 18.00 | -6.35 |
| 2020 (7) | 9.60 | -6.98 | -4.18 | 0 | 10.10 | 4.56 | -5.66 | 0 | -5.65 | 0 | -6.74 | 0 | -3.36 | 0 | 0.65 | -4.41 | 5.19 | -39.51 | 84.45 | 4.31 | 74.19 | -22.84 | 25.81 | 570.97 | 0.06 | 3.69 | 19.22 | 17.27 |
| 2019 (6) | 10.32 | -13.28 | -1.96 | 0 | 9.66 | 25.1 | -2.01 | 0 | -1.71 | 0 | -2.28 | 0 | -0.70 | 0 | 0.68 | -4.23 | 8.58 | -1.27 | 80.96 | -28.13 | 96.15 | 0 | 3.85 | 0 | 0.06 | -38.35 | 16.39 | 5.81 |
| 2018 (5) | 11.90 | -12.24 | -0.21 | 0 | 7.72 | 52.76 | 0.00 | 0 | -0.59 | 0 | -0.90 | 0 | 0.11 | -96.59 | 0.71 | -25.26 | 8.69 | -4.51 | 112.65 | -6.59 | 0.00 | 0 | 0.00 | 0 | 0.09 | 0 | 15.49 | 43.03 |
| 2017 (4) | 13.56 | -15.57 | 5.34 | -34.8 | 5.05 | -10.61 | 3.42 | -50.79 | 2.93 | -55.54 | 6.63 | -57.61 | 3.23 | -56.93 | 0.95 | -12.04 | 9.10 | -30.48 | 120.60 | -21.88 | 156.41 | 33.12 | -56.41 | 0 | 0.00 | 0 | 10.83 | 1.88 |
| 2016 (3) | 16.06 | -8.28 | 8.19 | 368.0 | 5.65 | -55.11 | 6.95 | 57.24 | 6.59 | 67.26 | 15.64 | 223.81 | 7.50 | 141.94 | 1.08 | 54.29 | 13.09 | -26.05 | 154.38 | 83.22 | 117.50 | 190.95 | -17.50 | 0 | 0.00 | 0 | 10.63 | -45.46 |
| 2015 (2) | 17.51 | -16.34 | 1.75 | -70.24 | 12.60 | -2.06 | 4.42 | -34.9 | 3.94 | -40.21 | 4.83 | -43.84 | 3.10 | -40.84 | 0.70 | -4.11 | 17.70 | -13.53 | 84.26 | 24.94 | 40.38 | -52.99 | 59.62 | 365.0 | 0.00 | 0 | 19.49 | 20.76 |
| 2014 (1) | 20.93 | 0 | 5.88 | 0 | 12.86 | 1.69 | 6.79 | 0 | 6.59 | 0 | 8.60 | 0 | 5.24 | 0 | 0.73 | 1.39 | 20.47 | -3.35 | 67.44 | -28.51 | 85.90 | -5.13 | 12.82 | 35.53 | 0.00 | 0 | 16.14 | 0.0 |
