- 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) | -0.89 | -157.05 | -115.42 | -4.39 | -59.64 | -718.31 | 0.60 | 135.5 | -67.03 | 6.64 | 1329.63 | 123.57 | 4.39 | 2843.75 | 206.99 | 2.47 | 8133.33 | 160.0 | 0.35 | 105.88 | 20.69 | 3.68 | -15.98 | -24.9 | 99.04 | 32.8 | 66.62 | -740.00 | -544.0 | -1991.11 | 840.00 | 1360.0 | 1280.0 | 6.08 | -54.46 | -18.28 |
| 23Q3 (19) | 1.56 | 11.43 | -87.45 | -2.75 | 33.09 | -135.08 | -1.69 | -11.92 | -115.87 | -0.54 | -196.43 | -106.33 | -0.16 | -176.19 | -103.59 | 0.03 | -86.36 | -98.86 | 0.17 | -19.05 | -43.33 | 4.38 | 45.51 | -66.15 | 74.58 | -1.71 | 7.57 | 166.67 | -38.6 | 126.19 | -66.67 | 61.11 | -353.33 | 13.35 | 26.9 | 39.21 |
| 23Q2 (18) | 1.40 | -82.03 | -83.47 | -4.11 | -230.06 | -196.03 | -1.51 | -140.7 | -139.32 | 0.56 | -85.3 | -83.08 | 0.21 | -85.62 | -87.93 | 0.22 | -76.84 | -78.64 | 0.21 | -8.7 | -27.59 | 3.01 | -61.36 | -54.39 | 75.88 | 0.73 | -6.34 | 271.43 | 215.21 | 144.29 | -171.43 | -1334.29 | -1442.86 | 10.52 | 4.57 | 14.1 |
| 23Q1 (17) | 7.79 | 35.01 | -27.74 | 3.16 | 345.07 | -52.91 | 3.71 | 103.85 | -55.83 | 3.81 | 28.28 | -42.79 | 1.46 | 2.1 | -59.33 | 0.95 | 0.0 | -54.11 | 0.23 | -20.69 | -23.33 | 7.79 | 58.98 | -25.24 | 75.33 | 26.73 | -4.54 | 86.11 | 120.06 | 8.48 | 13.89 | -77.18 | -29.09 | 10.06 | 35.22 | 12.15 |
| 22Q4 (16) | 5.77 | -53.58 | -48.71 | 0.71 | -90.94 | -89.16 | 1.82 | -82.91 | -62.63 | 2.97 | -65.18 | -25.94 | 1.43 | -67.94 | -42.11 | 0.95 | -64.02 | -39.1 | 0.29 | -3.33 | -14.71 | 4.90 | -62.13 | -30.79 | 59.44 | -14.27 | -24.12 | 39.13 | -46.89 | -70.78 | 60.87 | 131.3 | 279.41 | 7.44 | -22.42 | -2.62 |
| 22Q3 (15) | 12.43 | 46.75 | 14.04 | 7.84 | 83.18 | 14.45 | 10.65 | 177.34 | 82.99 | 8.53 | 157.7 | 68.91 | 4.46 | 156.32 | 50.68 | 2.64 | 156.31 | 59.04 | 0.30 | 3.45 | -6.25 | 12.94 | 96.06 | 64.01 | 69.33 | -14.43 | -15.91 | 73.68 | -33.68 | -38.01 | 26.32 | 336.84 | 254.97 | 9.59 | 4.01 | 20.33 |
| 22Q2 (14) | 8.47 | -21.43 | 92.5 | 4.28 | -36.21 | 237.01 | 3.84 | -54.29 | 9.71 | 3.31 | -50.3 | -31.61 | 1.74 | -51.53 | -49.42 | 1.03 | -50.24 | -47.45 | 0.29 | -3.33 | -25.64 | 6.60 | -36.66 | 21.77 | 81.02 | 2.67 | -9.5 | 111.11 | 39.97 | 199.15 | -11.11 | -156.73 | -117.68 | 9.22 | 2.79 | 51.15 |
| 22Q1 (13) | 10.78 | -4.18 | 237.93 | 6.71 | 2.44 | 704.5 | 8.40 | 72.48 | 671.43 | 6.66 | 66.08 | 922.22 | 3.59 | 45.34 | 729.82 | 2.07 | 32.69 | 1393.75 | 0.30 | -11.76 | -3.23 | 10.42 | 47.18 | 720.47 | 78.91 | 0.74 | 1.02 | 79.38 | -40.73 | -0.77 | 19.59 | 157.73 | -34.71 | 8.97 | 17.41 | 13.69 |
| 21Q4 (12) | 11.25 | 3.21 | 175.06 | 6.55 | -4.38 | 674.56 | 4.87 | -16.32 | 299.59 | 4.01 | -20.59 | 237.8 | 2.47 | -16.55 | 166.58 | 1.56 | -6.02 | 269.57 | 0.34 | 6.25 | -8.11 | 7.08 | -10.27 | 1626.83 | 78.33 | -5.0 | -64.51 | 133.93 | 12.67 | 201.34 | -33.93 | -99.8 | -167.86 | 7.64 | -4.14 | -9.59 |
| 21Q3 (11) | 10.90 | 147.73 | 40.46 | 6.85 | 439.37 | 168.63 | 5.82 | 66.29 | 142.5 | 5.05 | 4.34 | 120.52 | 2.96 | -13.95 | -9.48 | 1.66 | -15.31 | 72.92 | 0.32 | -17.95 | -8.57 | 7.89 | 45.57 | 42.16 | 82.45 | -7.9 | -71.0 | 118.87 | 220.03 | 11.88 | -16.98 | -127.02 | -171.7 | 7.97 | 30.66 | -9.23 |
| 21Q2 (10) | 4.40 | 37.93 | 456.96 | 1.27 | 214.41 | 112.2 | 3.50 | 338.1 | 132.11 | 4.84 | 697.53 | 145.79 | 3.44 | 703.51 | 163.7 | 1.96 | 1325.0 | 245.19 | 0.39 | 25.81 | 178.57 | 5.42 | 326.77 | 339.82 | 89.52 | 14.61 | -73.23 | 37.14 | -53.57 | -61.24 | 62.86 | 109.52 | 1408.57 | 6.10 | -22.69 | 0 |
| 21Q1 (9) | 3.19 | -22.0 | 133.47 | -1.11 | 2.63 | 94.38 | -1.47 | 39.75 | 92.78 | -0.81 | 72.16 | 95.03 | -0.57 | 84.64 | 92.54 | -0.16 | 82.61 | 93.07 | 0.31 | -16.22 | 106.67 | 1.27 | 209.76 | 110.94 | 78.11 | -64.61 | -62.52 | 80.00 | 80.0 | -16.36 | 30.00 | -40.0 | 1280.0 | 7.89 | -6.63 | 0 |
| 20Q4 (8) | 4.09 | -47.29 | 161.78 | -1.14 | -144.71 | 93.43 | -2.44 | -201.67 | 84.89 | -2.91 | -227.07 | 77.27 | -3.71 | -213.46 | 39.77 | -0.92 | -195.83 | 52.33 | 0.37 | 5.71 | 131.25 | 0.41 | -92.61 | 104.96 | 220.73 | -22.37 | 3.67 | 44.44 | -58.17 | -58.59 | 50.00 | 900.0 | 783.33 | 8.45 | -3.76 | -52.21 |
| 20Q3 (7) | 7.76 | 882.28 | 1516.67 | 2.55 | 124.5 | 136.9 | 2.40 | 122.02 | 165.4 | 2.29 | 121.67 | 182.37 | 3.27 | 160.56 | 322.45 | 0.96 | 171.11 | 334.15 | 0.35 | 150.0 | 84.21 | 5.55 | 345.58 | 79.03 | 284.33 | -14.99 | 56.25 | 106.25 | 10.87 | -41.56 | -6.25 | -250.0 | 92.36 | 8.78 | 0 | -38.99 |
| 20Q2 (6) | 0.79 | 108.29 | -87.64 | -10.41 | 47.32 | -872.9 | -10.90 | 46.44 | -5550.0 | -10.57 | 35.11 | -5385.0 | -5.40 | 29.32 | -5500.0 | -1.35 | 41.56 | -775.0 | 0.14 | -6.67 | -26.32 | -2.26 | 80.53 | -131.52 | 334.45 | 60.47 | 82.79 | 95.83 | 0.19 | 131.94 | 4.17 | 91.67 | -98.96 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | -9.53 | -43.96 | -169.77 | -19.76 | -13.89 | -482.21 | -20.35 | -26.01 | -615.19 | -16.29 | -27.27 | -596.65 | -7.64 | -24.03 | -536.57 | -2.31 | -19.69 | -381.71 | 0.15 | -6.25 | -25.0 | -11.61 | -40.39 | -212.83 | 208.42 | -2.11 | 20.99 | 95.65 | -10.87 | -28.26 | 2.17 | 129.71 | 106.52 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | -6.62 | -1479.17 | 0.0 | -17.35 | -151.09 | 0.0 | -16.15 | -340.05 | 0.0 | -12.80 | -360.43 | 0.0 | -6.16 | -319.05 | 0.0 | -1.93 | -370.73 | 0.0 | 0.16 | -15.79 | 0.0 | -8.27 | -366.77 | 0.0 | 212.91 | 17.0 | 0.0 | 107.32 | -40.98 | 0.0 | -7.32 | 91.06 | 0.0 | 17.68 | 22.86 | 0.0 |
| 19Q3 (3) | 0.48 | -92.49 | 0.0 | -6.91 | -545.79 | 0.0 | -3.67 | -1935.0 | 0.0 | -2.78 | -1490.0 | 0.0 | -1.47 | -1570.0 | 0.0 | -0.41 | -305.0 | 0.0 | 0.19 | 0.0 | 0.0 | 3.10 | -56.76 | 0.0 | 181.97 | -0.55 | 0.0 | 181.82 | 160.61 | 0.0 | -81.82 | -120.45 | 0.0 | 14.39 | -2.37 | 0.0 |
| 19Q2 (2) | 6.39 | -53.22 | 0.0 | -1.07 | -120.7 | 0.0 | 0.20 | -94.94 | 0.0 | 0.20 | -93.9 | 0.0 | 0.10 | -94.29 | 0.0 | 0.20 | -75.61 | 0.0 | 0.19 | -5.0 | 0.0 | 7.17 | -30.32 | 0.0 | 182.97 | 6.22 | 0.0 | -300.00 | -325.0 | 0.0 | 400.00 | 1300.0 | 0.0 | 14.74 | 3.29 | 0.0 |
| 19Q1 (1) | 13.66 | 0.0 | 0.0 | 5.17 | 0.0 | 0.0 | 3.95 | 0.0 | 0.0 | 3.28 | 0.0 | 0.0 | 1.75 | 0.0 | 0.0 | 0.82 | 0.0 | 0.0 | 0.20 | 0.0 | 0.0 | 10.29 | 0.0 | 0.0 | 172.26 | 0.0 | 0.0 | 133.33 | 0.0 | 0.0 | -33.33 | 0.0 | 0.0 | 14.27 | 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) | 1.98 | -78.82 | -2.35 | 0 | 3.22 | 44.82 | 0.46 | -92.56 | 3.48 | -35.32 | 5.75 | -48.38 | 3.60 | -48.2 | 0.92 | -25.2 | 4.56 | -47.83 | 99.04 | 66.62 | -510.00 | 0 | 610.00 | 2785.4 | 15.64 | 482.49 | 9.16 | 4.09 |
| 2022 (9) | 9.35 | 19.41 | 4.86 | 28.57 | 2.22 | 24.69 | 6.18 | 74.58 | 5.38 | 50.28 | 11.14 | 11.74 | 6.95 | 35.74 | 1.23 | -6.11 | 8.74 | 52.26 | 59.44 | -24.12 | 78.52 | -26.45 | 21.14 | 0 | 2.69 | 388.29 | 8.80 | 19.57 |
| 2021 (8) | 7.83 | 135.14 | 3.78 | 0 | 1.78 | -51.45 | 3.54 | 0 | 3.58 | 0 | 9.97 | 0 | 5.12 | 0 | 1.31 | 33.67 | 5.74 | 1204.55 | 78.33 | -64.51 | 106.77 | 30.29 | -6.77 | 0 | 0.55 | -38.74 | 7.36 | -27.77 |
| 2020 (7) | 3.33 | -16.33 | -3.24 | 0 | 3.67 | -38.05 | -3.94 | 0 | -3.63 | 0 | -11.30 | 0 | -3.04 | 0 | 0.98 | 32.43 | 0.44 | -87.36 | 220.73 | 3.67 | 81.94 | -37.34 | 18.06 | 0 | 0.90 | 0 | 10.19 | -32.83 |
| 2019 (6) | 3.98 | -70.58 | -4.47 | 0 | 5.92 | 65.99 | -3.38 | 0 | -2.60 | 0 | -5.48 | 0 | -1.36 | 0 | 0.74 | -22.92 | 3.48 | -63.33 | 212.91 | 35.84 | 130.77 | 34.92 | -30.77 | 0 | 0.00 | 0 | 15.17 | 4.62 |
| 2018 (5) | 13.53 | 252.34 | 5.09 | 0 | 3.57 | 13.68 | 5.26 | 0 | 4.39 | 0 | 9.84 | 0 | 4.71 | 0 | 0.96 | 23.08 | 9.49 | 0 | 156.74 | 44.08 | 96.92 | 13.42 | 3.08 | -78.85 | 0.00 | 0 | 14.50 | -14.71 |
| 2017 (4) | 3.84 | -61.48 | -5.30 | 0 | 3.14 | 47.53 | -6.19 | 0 | -5.38 | 0 | -8.62 | 0 | -3.92 | 0 | 0.78 | -17.02 | -2.69 | 0 | 108.79 | 5.29 | 85.45 | -4.29 | 14.55 | 103.64 | 0.00 | 0 | 17.00 | -1.11 |
| 2016 (3) | 9.97 | 17.02 | 2.46 | 90.7 | 2.13 | 37.02 | 2.67 | 10.33 | 2.65 | 3.92 | 5.31 | -2.21 | 2.69 | -10.63 | 0.94 | -12.96 | 5.03 | -13.28 | 103.32 | -18.56 | 89.29 | 71.13 | 7.14 | -85.06 | 0.00 | 0 | 17.19 | 18.06 |
| 2015 (2) | 8.52 | -32.38 | 1.29 | -74.56 | 1.55 | 28.75 | 2.42 | -59.67 | 2.55 | -57.43 | 5.43 | -60.45 | 3.01 | -62.93 | 1.08 | -17.56 | 5.80 | -35.91 | 126.86 | 82.69 | 52.17 | -38.62 | 47.83 | 218.84 | 0.00 | 0 | 14.56 | 17.42 |
| 2014 (1) | 12.60 | 0 | 5.07 | 0 | 1.21 | -2.91 | 6.00 | 0 | 5.99 | 0 | 13.73 | 0 | 8.12 | 0 | 1.31 | 11.97 | 9.05 | 40.09 | 69.44 | -15.01 | 85.00 | 10.5 | 15.00 | -44.29 | 0.00 | 0 | 12.40 | -4.76 |
