- 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 | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 20Q3 (20) | 7.94 | 238.81 | 160.66 | 1.63 | 113.69 | 109.26 | 0.23 | 101.33 | 101.11 | 0.14 | 100.81 | 100.67 | 0.32 | 101.31 | 101.88 | 0.27 | 109.64 | 105.88 | 0.26 | 52.94 | 13.04 | 10.02 | 449.13 | 185.35 | 832.70 | 4.11 | 194.09 | 720.00 | 946.9 | 747.16 | -600.00 | -2021.52 | -4097.4 | 0.00 | 0 | -100.0 |
| 20Q2 (19) | -5.72 | 45.47 | -128.8 | -11.91 | 19.53 | -90.87 | -17.28 | -13.02 | -186.09 | -17.39 | -10.34 | -192.27 | -24.45 | -0.29 | -333.51 | -2.80 | 25.93 | -76.1 | 0.17 | -32.0 | -41.38 | -2.87 | 50.09 | -555.56 | 799.79 | 24.56 | 242.14 | 68.77 | -28.88 | -33.3 | 31.23 | 845.27 | 1104.41 | 0.00 | 0 | -100.0 |
| 20Q1 (18) | -10.49 | 23.99 | -346.38 | -14.80 | 22.47 | -143.82 | -15.29 | 71.19 | -210.77 | -15.76 | 70.04 | -156.68 | -24.38 | 53.52 | -454.09 | -3.78 | 68.24 | -209.84 | 0.25 | 8.7 | 13.64 | -5.75 | 86.63 | -259.72 | 642.09 | 52.79 | 192.32 | 96.70 | 168.86 | -21.75 | 3.30 | -94.84 | 114.01 | 0.00 | 0 | -100.0 |
| 19Q4 (17) | -13.80 | -5.42 | -553.95 | -19.09 | -8.4 | -7736.0 | -53.08 | -156.43 | -18403.45 | -52.61 | -153.42 | -22973.91 | -52.45 | -207.99 | -23940.91 | -11.90 | -159.26 | -5058.33 | 0.23 | 0.0 | -17.86 | -43.01 | -266.35 | -725.15 | 420.23 | 48.42 | 86.03 | 35.97 | -57.68 | -55.04 | 64.03 | 326.62 | 540.34 | 0.00 | -100.0 | -100.0 |
| 19Q3 (16) | -13.09 | -423.6 | -599.62 | -17.61 | -182.21 | -19666.67 | -20.70 | -242.72 | -3284.62 | -20.76 | -248.91 | -2983.33 | -17.03 | -201.95 | -2202.47 | -4.59 | -188.68 | -1247.5 | 0.23 | -20.69 | -30.3 | -11.74 | -1963.49 | -296.65 | 283.14 | 21.12 | 14.73 | 84.99 | -17.57 | 473.68 | 15.01 | 582.81 | -82.38 | 2.04 | 35.1 | 112.5 |
| 19Q2 (15) | -2.50 | -6.38 | -130.3 | -6.24 | -2.8 | -201.3 | -6.04 | -22.76 | -194.82 | -5.95 | 3.09 | -216.67 | -5.64 | -28.18 | -188.82 | -1.59 | -30.33 | -176.44 | 0.29 | 31.82 | -23.68 | 0.63 | -82.5 | -94.45 | 233.76 | 6.42 | 1.84 | 103.11 | -16.56 | 6.62 | -3.11 | 86.81 | -194.3 | 1.51 | -27.75 | 79.76 |
| 19Q1 (14) | -2.35 | -177.3 | -154.65 | -6.07 | -2528.0 | -444.89 | -4.92 | -1796.55 | -568.57 | -6.14 | -2769.57 | -380.37 | -4.40 | -2100.0 | -288.03 | -1.22 | -608.33 | -241.86 | 0.22 | -21.43 | -31.25 | 3.60 | -47.67 | -49.22 | 219.65 | -2.76 | -5.27 | 123.58 | 54.47 | -26.25 | -23.58 | -335.77 | 65.11 | 2.09 | 74.17 | 81.74 |
| 18Q4 (13) | 3.04 | 16.03 | -31.22 | 0.25 | 177.78 | -84.85 | 0.29 | -55.38 | -71.29 | 0.23 | -68.06 | -71.6 | 0.22 | -72.84 | -74.71 | 0.24 | -40.0 | -42.86 | 0.28 | -15.15 | -12.5 | 6.88 | 15.24 | -3.78 | 225.89 | -8.47 | -4.28 | 80.00 | 440.0 | -50.88 | 10.00 | -88.26 | 115.91 | 1.20 | 25.0 | 29.03 |
| 18Q3 (12) | 2.62 | -68.24 | 181.62 | 0.09 | -98.54 | 101.48 | 0.65 | -89.8 | 111.88 | 0.72 | -85.88 | 113.24 | 0.81 | -87.24 | 115.88 | 0.40 | -80.77 | 129.63 | 0.33 | -13.16 | 17.86 | 5.97 | -47.45 | 311.72 | 246.79 | 7.52 | 1.14 | 14.81 | -84.68 | -86.71 | 85.19 | 2483.95 | 844.25 | 0.96 | 14.29 | -7.69 |
| 18Q2 (11) | 8.25 | 91.86 | 0 | 6.16 | 250.0 | 0 | 6.37 | 506.67 | 0 | 5.10 | 132.88 | 0 | 6.35 | 171.37 | 0 | 2.08 | 141.86 | 206.67 | 0.38 | 18.75 | 31.03 | 11.36 | 60.23 | 0 | 229.54 | -1.01 | 0.64 | 96.70 | -42.29 | 20.88 | 3.30 | 104.88 | -83.52 | 0.84 | -26.96 | -16.0 |
| 18Q1 (10) | 4.30 | -2.71 | -17.15 | 1.76 | 6.67 | -39.93 | 1.05 | 3.96 | -25.0 | 2.19 | 170.37 | 88.79 | 2.34 | 168.97 | 105.26 | 0.86 | 104.76 | 28.36 | 0.32 | 0.0 | 10.34 | 7.09 | -0.84 | 0 | 231.88 | -1.74 | -4.64 | 167.57 | 2.89 | -19.57 | -67.57 | -7.49 | 37.63 | 1.15 | 23.66 | 13.86 |
| 17Q4 (9) | 4.42 | 237.69 | 43.04 | 1.65 | 127.09 | 4025.0 | 1.01 | 118.46 | 162.35 | 0.81 | 114.89 | 150.0 | 0.87 | 117.06 | 167.97 | 0.42 | 131.11 | 1150.0 | 0.32 | 14.29 | 33.33 | 7.15 | 393.1 | 0 | 235.98 | -3.29 | 2.84 | 162.86 | 46.13 | 7265.71 | -62.86 | -449.17 | -161.46 | 0.93 | -10.58 | -16.96 |
| 17Q3 (8) | -3.21 | 0 | -593.85 | -6.09 | 0 | -197.07 | -5.47 | 0 | -76.45 | -5.44 | 0 | -75.48 | -5.10 | 0 | -112.5 | -1.35 | 30.77 | -255.26 | 0.28 | -3.45 | 21.74 | 1.45 | 0 | -70.35 | 244.02 | 6.99 | 2.2 | 111.45 | 39.31 | 68.18 | -11.45 | -157.23 | -133.93 | 1.04 | 4.0 | -3.7 |
| 17Q2 (7) | 0.00 | -100.0 | -100.0 | 0.00 | -100.0 | -100.0 | 0.00 | -100.0 | -100.0 | 0.00 | -100.0 | -100.0 | 0.00 | -100.0 | -100.0 | -1.95 | -391.04 | -467.92 | 0.29 | 0.0 | 38.1 | 0.00 | 0 | -100.0 | 228.08 | -6.21 | -1.75 | 80.00 | -61.6 | -67.06 | 20.00 | 118.46 | 113.66 | 1.00 | -0.99 | -9.09 |
| 17Q1 (6) | 5.19 | 67.96 | 0 | 2.93 | 7225.0 | 0 | 1.40 | 186.42 | 0 | 1.16 | 171.6 | 0 | 1.14 | 189.06 | 0 | 0.67 | 1775.0 | 0 | 0.29 | 20.83 | 0 | 0.00 | 0 | 100.0 | 243.17 | 5.97 | 0 | 208.33 | 9266.67 | 0 | -108.33 | -205.93 | 0 | 1.01 | -9.82 | 0 |
| 16Q4 (5) | 3.09 | 375.38 | 0 | 0.04 | 101.95 | 0 | -1.62 | 47.74 | 0 | -1.62 | 47.74 | 0 | -1.28 | 46.67 | 0 | -0.04 | 89.47 | 0 | 0.24 | 4.35 | 0 | 0.00 | -100.0 | 0 | 229.46 | -3.9 | 0 | -2.27 | -103.43 | 0 | 102.27 | 203.17 | 0 | 1.12 | 3.7 | 0 |
| 16Q3 (4) | 0.65 | -89.04 | 0.0 | -2.05 | -172.7 | 0.0 | -3.10 | -371.93 | 0.0 | -3.10 | -444.44 | 0.0 | -2.40 | -480.95 | 0.0 | -0.38 | -171.7 | 0.0 | 0.23 | 9.52 | 0.0 | 4.89 | -47.81 | 0.0 | 238.77 | 2.86 | 0.0 | 66.27 | -72.71 | 0.0 | 33.73 | 123.04 | 0.0 | 1.08 | -1.82 | 0.0 |
| 16Q2 (3) | 5.93 | 0 | 0.0 | 2.82 | 0 | 0.0 | 1.14 | 0 | 0.0 | 0.90 | 0 | 0.0 | 0.63 | 0 | 0.0 | 0.53 | 0 | 0.0 | 0.21 | 0 | 0.0 | 9.37 | 305.93 | 0.0 | 232.14 | 0 | 0.0 | 242.86 | 0 | 0.0 | -146.43 | 0 | 0.0 | 1.10 | 0 | 0.0 |
| 16Q1 (2) | 0.00 | 0 | 0.0 | 0.00 | 0 | 0.0 | 0.00 | 0 | 0.0 | 0.00 | 0 | 0.0 | 0.00 | 0 | 0.0 | 0.00 | 0 | 0.0 | 0.00 | 0 | 0.0 | -4.55 | 0 | 0.0 | 0.00 | 0 | 0.0 | 0.00 | 0 | 0.0 | 0.00 | 0 | 0.0 | 0.00 | 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 | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2019 (10) | -7.38 | 0 | -11.64 | 0 | 7.58 | 50.46 | -19.23 | 0 | -19.41 | 0 | -77.75 | 0 | -19.38 | 0 | 1.03 | -24.26 | -10.84 | 0 | 420.23 | 86.03 | 60.53 | -38.04 | 39.47 | 1607.01 | 0.00 | 0 | 1.94 | 90.2 |
| 2018 (9) | 4.69 | 432.95 | 2.23 | 0 | 5.04 | -12.67 | 2.28 | 0 | 2.19 | 0 | 9.84 | 0 | 3.66 | 0 | 1.36 | 13.33 | 7.95 | 94.38 | 225.89 | -4.28 | 97.69 | 42.05 | 2.31 | -92.53 | 0.00 | 0 | 1.02 | 3.03 |
| 2017 (8) | 0.88 | 20.55 | -1.82 | 0 | 5.77 | -15.11 | -2.64 | 0 | -2.69 | 0 | -10.71 | 0 | -2.25 | 0 | 1.20 | 39.53 | 4.09 | -10.31 | 235.98 | 2.84 | 68.77 | 20.34 | 30.95 | -27.79 | 0.00 | 0 | 0.99 | -22.05 |
| 2016 (7) | 0.73 | 0 | -2.37 | 0 | 6.79 | 6.1 | -4.15 | 0 | -4.25 | 0 | -11.65 | 0 | -2.28 | 0 | 0.86 | -6.52 | 4.56 | 0 | 229.46 | 8.46 | 57.14 | -35.54 | 42.86 | 275.56 | 0.00 | 0 | 1.27 | -3.79 |
| 2015 (6) | -10.79 | 0 | -13.95 | 0 | 6.40 | 86.15 | -15.75 | 0 | -15.87 | 0 | -39.41 | 0 | -13.29 | 0 | 0.92 | -42.14 | -7.67 | 0 | 211.57 | 47.06 | 88.64 | 10.8 | 11.41 | -43.36 | 0.00 | 0 | 1.32 | 91.3 |
| 2014 (5) | -0.28 | 0 | -2.35 | 0 | 3.44 | -8.82 | -2.94 | 0 | -2.49 | 0 | -9.57 | 0 | -2.78 | 0 | 1.59 | -3.05 | 1.40 | 108.96 | 143.87 | 3.69 | 80.00 | -14.55 | 20.15 | 222.35 | 0.00 | 0 | 0.69 | -11.54 |
| 2013 (4) | -0.92 | 0 | -3.19 | 0 | 3.77 | 0 | -3.40 | 0 | -2.89 | 0 | -9.93 | 0 | -4.35 | 0 | 1.64 | 0 | 0.67 | 0 | 138.75 | 0 | 93.62 | 0 | 6.25 | 0 | 0.00 | 0 | 0.78 | 0 |
