- 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) | -23.55 | -70.04 | 12.23 | -49.81 | -70.17 | -20.87 | -64.15 | -374.83 | -21.52 | -64.15 | -374.83 | -36.0 | -5.36 | -382.88 | -28.23 | -4.28 | -403.53 | -26.25 | 0.07 | 0.0 | 0.0 | -44.65 | -845.41 | -30.29 | 24.30 | 4.52 | 11.62 | 77.54 | -64.87 | -0.42 | 22.46 | 119.16 | 1.47 | 51.81 | -0.8 | 2.53 |
| 23Q3 (19) | -13.85 | 10.12 | -1023.33 | -29.27 | 1.65 | -293.41 | -13.51 | 28.02 | -250.11 | -13.51 | 28.02 | -251.97 | -1.11 | 33.93 | -211.0 | -0.85 | 36.09 | -201.19 | 0.07 | 0.0 | -22.22 | 5.99 | 583.06 | -74.7 | 23.25 | -4.36 | 3.52 | 220.69 | 37.93 | 366.67 | -117.24 | -102.92 | -164.15 | 52.23 | 2.15 | 27.92 |
| 23Q2 (18) | -15.41 | -260.89 | -780.57 | -29.76 | -56.14 | -140.58 | -18.77 | 4.62 | -219.22 | -18.77 | 4.62 | -219.22 | -1.68 | 7.18 | -147.06 | -1.33 | 8.28 | -150.94 | 0.07 | 0.0 | -22.22 | -1.24 | 48.33 | -116.32 | 24.31 | 4.74 | 3.71 | 160.00 | 63.33 | -25.85 | -57.78 | -1515.56 | 47.72 | 51.13 | -5.16 | 24.13 |
| 23Q1 (17) | -4.27 | 84.08 | 11.59 | -19.06 | 53.75 | -1.55 | -19.68 | 62.72 | -145.39 | -19.68 | 58.28 | -145.39 | -1.81 | 56.7 | -170.15 | -1.45 | 57.23 | -184.31 | 0.07 | 0.0 | 0.0 | -2.40 | 93.0 | -121.98 | 23.21 | 6.61 | 3.85 | 97.96 | 25.81 | -58.64 | 4.08 | -81.56 | 102.98 | 53.91 | 6.69 | 1.01 |
| 22Q4 (16) | -26.83 | -1888.67 | -650.92 | -41.21 | -453.9 | -925.12 | -52.79 | -686.56 | -1060.22 | -47.17 | -630.6 | -729.0 | -4.18 | -518.0 | -523.88 | -3.39 | -503.57 | -564.71 | 0.07 | -22.22 | -22.22 | -34.27 | -244.72 | -500.82 | 21.77 | -3.07 | -17.97 | 77.86 | 194.08 | -16.58 | 22.14 | -87.89 | 66.03 | 50.53 | 23.76 | 45.49 |
| 22Q3 (15) | 1.50 | 185.71 | -64.87 | -7.44 | 39.85 | -28.06 | 9.00 | 253.06 | 267.91 | 8.89 | 251.19 | 301.13 | 1.00 | 247.06 | 238.89 | 0.84 | 258.49 | 268.0 | 0.09 | 0.0 | -25.0 | 23.68 | 211.58 | 280.71 | 22.46 | -4.18 | -15.15 | -82.76 | -138.35 | -178.82 | 182.76 | 265.35 | 1927.59 | 40.83 | -0.87 | 6.22 |
| 22Q2 (14) | -1.75 | 63.77 | -114.18 | -12.37 | 34.1 | -375.5 | -5.88 | 26.68 | -300.0 | -5.88 | 26.68 | -287.26 | -0.68 | -1.49 | -181.93 | -0.53 | -3.92 | -189.83 | 0.09 | 28.57 | -50.0 | 7.60 | -30.4 | -37.35 | 23.44 | 4.88 | -54.43 | 215.79 | -8.89 | 40.26 | -110.53 | 19.23 | -105.26 | 41.19 | -22.82 | 25.24 |
| 22Q1 (13) | -4.83 | -199.18 | -137.1 | -18.77 | -366.92 | -405.7 | -8.02 | -76.26 | -229.35 | -8.02 | -40.95 | -236.86 | -0.67 | 0.0 | -138.95 | -0.51 | 0.0 | -142.5 | 0.07 | -22.22 | -65.0 | 10.92 | 27.72 | -25.61 | 22.35 | -15.79 | -51.15 | 236.84 | 153.76 | 145.01 | -136.84 | -1126.32 | 0 | 53.37 | 53.67 | 77.49 |
| 21Q4 (12) | 4.87 | 14.05 | -39.43 | -4.02 | 30.81 | -207.77 | -4.55 | 15.11 | -635.29 | -5.69 | -28.73 | -405.91 | -0.67 | 6.94 | -213.56 | -0.51 | -2.0 | -218.6 | 0.09 | -25.0 | -59.09 | 8.55 | 37.46 | 8.09 | 26.54 | 0.26 | -41.94 | 93.33 | -11.11 | -80.35 | 13.33 | 233.33 | 103.56 | 34.73 | -9.65 | 16.58 |
| 21Q3 (11) | 4.27 | -65.4 | -58.06 | -5.81 | -229.4 | -402.6 | -5.36 | -282.31 | -319.67 | -4.42 | -240.76 | -281.15 | -0.72 | -186.75 | -210.77 | -0.50 | -184.75 | -202.04 | 0.12 | -33.33 | -36.84 | 6.22 | -48.72 | -45.1 | 26.47 | -48.54 | -38.81 | 105.00 | -31.75 | 31.25 | -10.00 | 81.43 | -150.0 | 38.44 | 16.87 | 31.28 |
| 21Q2 (10) | 12.34 | -5.22 | 278.58 | 4.49 | -26.87 | 119.99 | 2.94 | -52.58 | 118.51 | 3.14 | -46.42 | 119.77 | 0.83 | -51.74 | 136.09 | 0.59 | -50.83 | 135.98 | 0.18 | -10.0 | 63.64 | 12.13 | -17.37 | 593.14 | 51.44 | 12.44 | 31.29 | 153.85 | 59.15 | 8.6 | -53.85 | 0 | -29.23 | 32.89 | 9.38 | -23.21 |
| 21Q1 (9) | 13.02 | 61.94 | 340.22 | 6.14 | 64.61 | 130.4 | 6.20 | 629.41 | 134.33 | 5.86 | 215.05 | 132.45 | 1.72 | 191.53 | 169.92 | 1.20 | 179.07 | 168.97 | 0.20 | -9.09 | 100.0 | 14.68 | 85.59 | 0 | 45.75 | 0.09 | 28.48 | 96.67 | -79.65 | -14.07 | 0.00 | 100.0 | 100.0 | 30.07 | 0.94 | -36.73 |
| 20Q4 (8) | 8.04 | -21.02 | 218.93 | 3.73 | 94.27 | 121.06 | 0.85 | -65.16 | 104.26 | 1.86 | -23.77 | 111.72 | 0.59 | -9.23 | 123.69 | 0.43 | -12.24 | 124.57 | 0.22 | 15.79 | 100.0 | 7.91 | -30.19 | 261.76 | 45.71 | 5.66 | 15.81 | 475.00 | 493.75 | 435.64 | -375.00 | -1975.0 | -3412.5 | 29.79 | 1.74 | -22.02 |
| 20Q3 (7) | 10.18 | 247.32 | 340.69 | 1.92 | 108.55 | 116.09 | 2.44 | 115.37 | 121.31 | 2.44 | 115.37 | 126.64 | 0.65 | 128.26 | 141.14 | 0.49 | 129.88 | 144.95 | 0.19 | 72.73 | 58.33 | 11.33 | 547.43 | 382.13 | 43.26 | 10.41 | 14.26 | 80.00 | -43.53 | -24.44 | 20.00 | 148.0 | 780.0 | 29.28 | -31.64 | -23.25 |
| 20Q2 (6) | -6.91 | -27.49 | -174.7 | -22.46 | -11.19 | -353.74 | -15.88 | 12.07 | -492.54 | -15.88 | 12.07 | -465.12 | -2.30 | 6.5 | -325.93 | -1.64 | 5.75 | -382.35 | 0.11 | 10.0 | -21.43 | 1.75 | 0 | -81.73 | 39.18 | 10.03 | -3.69 | 141.67 | 25.93 | -25.0 | -41.67 | -233.33 | 53.12 | 42.83 | -9.89 | 7.56 |
| 20Q1 (5) | -5.42 | 19.82 | -185.49 | -20.20 | -14.06 | -245.89 | -18.06 | 9.56 | -250.68 | -18.06 | -13.8 | -338.35 | -2.46 | 1.2 | -203.7 | -1.74 | 0.57 | -228.3 | 0.10 | -9.09 | -28.57 | -0.00 | 100.0 | -100.0 | 35.61 | -9.78 | -9.6 | 112.50 | 26.86 | 1.25 | -12.50 | -210.42 | -12.5 | 47.53 | 24.42 | 21.75 |
| 19Q4 (4) | -6.76 | -392.64 | 0.0 | -17.71 | -48.45 | 0.0 | -19.97 | -74.41 | 0.0 | -15.87 | -73.25 | 0.0 | -2.49 | -57.59 | 0.0 | -1.75 | -60.55 | 0.0 | 0.11 | -8.33 | 0.0 | -4.89 | -308.09 | 0.0 | 39.47 | 4.25 | 0.0 | 88.68 | -16.25 | 0.0 | 11.32 | 484.91 | 0.0 | 38.20 | 0.13 | 0.0 |
| 19Q3 (3) | 2.31 | -75.03 | 0.0 | -11.93 | -141.01 | 0.0 | -11.45 | -327.24 | 0.0 | -9.16 | -225.98 | 0.0 | -1.58 | -192.59 | 0.0 | -1.09 | -220.59 | 0.0 | 0.12 | -14.29 | 0.0 | 2.35 | -75.47 | 0.0 | 37.86 | -6.93 | 0.0 | 105.88 | -43.94 | 0.0 | -2.94 | 96.69 | 0.0 | 38.15 | -4.19 | 0.0 |
| 19Q2 (2) | 9.25 | 45.9 | 0.0 | -4.95 | 15.24 | 0.0 | -2.68 | 47.96 | 0.0 | -2.81 | 31.8 | 0.0 | -0.54 | 33.33 | 0.0 | -0.34 | 35.85 | 0.0 | 0.14 | 0.0 | 0.0 | 9.58 | 32.14 | 0.0 | 40.68 | 3.27 | 0.0 | 188.89 | 70.0 | 0.0 | -88.89 | -700.0 | 0.0 | 39.82 | 2.0 | 0.0 |
| 19Q1 (1) | 6.34 | 0.0 | 0.0 | -5.84 | 0.0 | 0.0 | -5.15 | 0.0 | 0.0 | -4.12 | 0.0 | 0.0 | -0.81 | 0.0 | 0.0 | -0.53 | 0.0 | 0.0 | 0.14 | 0.0 | 0.0 | 7.25 | 0.0 | 0.0 | 39.39 | 0.0 | 0.0 | 111.11 | 0.0 | 0.0 | -11.11 | 0.0 | 0.0 | 39.04 | 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) | -13.92 | 0 | -31.41 | 0 | 17.12 | 12.5 | -28.35 | 0 | -28.35 | 0 | -9.96 | 0 | -7.95 | 0 | 0.29 | -12.12 | -9.97 | 0 | 24.30 | 11.62 | 110.69 | -26.38 | -10.69 | 0 | 0.42 | -12.91 | 52.30 | 14.49 |
| 2022 (9) | -6.95 | 0 | -18.61 | 0 | 15.22 | 50.58 | -12.36 | 0 | -11.17 | 0 | -4.53 | 0 | -3.54 | 0 | 0.33 | -38.89 | 3.69 | -65.96 | 21.77 | -17.97 | 150.35 | -24.82 | -50.35 | 0 | 0.48 | 15.76 | 45.68 | 35.51 |
| 2021 (8) | 9.14 | 127.36 | 0.85 | 0 | 10.10 | -5.76 | 0.44 | 0 | 0.37 | 0 | 0.27 | 0 | 0.30 | 0 | 0.54 | -8.47 | 10.84 | 63.25 | 26.54 | -41.94 | 200.00 | 79.71 | -100.00 | 0 | 0.41 | 869.96 | 33.71 | -2.8 |
| 2020 (7) | 4.02 | 20.0 | -5.06 | 0 | 10.72 | -14.15 | -4.52 | 0 | -4.14 | 0 | -3.47 | 0 | -2.31 | 0 | 0.59 | 15.69 | 6.64 | 61.56 | 45.71 | 15.81 | 111.29 | 6.61 | -11.29 | 0 | 0.04 | -67.06 | 34.68 | -10.76 |
| 2019 (6) | 3.35 | -70.41 | -9.60 | 0 | 12.49 | 12.94 | -9.17 | 0 | -7.49 | 0 | -5.45 | 0 | -3.66 | 0 | 0.51 | -25.0 | 4.11 | -72.3 | 39.47 | -12.41 | 104.39 | 369.74 | -4.39 | 0 | 0.13 | -34.33 | 38.86 | 18.12 |
| 2018 (5) | 11.32 | -6.14 | 0.69 | -23.33 | 11.06 | -32.15 | 3.20 | 451.72 | 2.98 | 308.22 | 2.95 | 304.11 | 2.22 | 196.0 | 0.68 | 6.25 | 14.84 | -16.49 | 45.06 | -6.73 | 22.22 | -84.62 | 77.78 | 0 | 0.20 | 0 | 32.90 | 3.82 |
| 2017 (4) | 12.06 | 20.0 | 0.90 | 0 | 16.30 | -10.35 | 0.58 | 0 | 0.73 | 0 | 0.73 | 0 | 0.75 | 0 | 0.64 | 3.23 | 17.77 | 20.07 | 48.31 | -27.84 | 144.44 | 59.92 | -55.56 | 0 | 0.00 | 0 | 31.69 | -6.33 |
| 2016 (3) | 10.05 | 106.37 | -3.91 | 0 | 18.18 | 1.44 | -4.36 | 0 | -3.47 | 0 | -3.62 | 0 | -1.80 | 0 | 0.62 | 5.08 | 14.80 | 69.14 | 66.95 | -4.7 | 90.32 | -13.36 | 9.68 | 0 | 0.00 | 0 | 33.83 | -10.41 |
| 2015 (2) | 4.87 | -43.89 | -10.46 | 0 | 17.92 | 10.11 | -10.06 | 0 | -8.37 | 0 | -8.07 | 0 | -4.61 | 0 | 0.59 | -6.35 | 8.75 | -38.42 | 70.25 | 19.96 | 104.26 | -9.96 | -4.26 | 0 | 0.00 | 0 | 37.76 | 5.65 |
| 2014 (1) | 8.68 | 0 | -2.92 | 0 | 16.28 | 25.32 | -2.51 | 0 | -2.48 | 0 | -2.36 | 0 | -1.43 | 0 | 0.63 | -12.5 | 14.21 | -40.49 | 58.56 | 32.43 | 115.79 | 23.68 | -15.79 | 0 | 0.00 | 0 | 35.74 | -6.12 |
