- 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) | 1.65 | -94.25 | -97.74 | -1361.35 | -121.18 | -80.11 | -1196.17 | -196.53 | -109.4 | -1200.15 | -197.52 | -110.98 | -1.20 | -36.36 | -20.0 | -0.79 | -38.6 | -14.49 | 0.00 | 0 | 0 | -1100.00 | -371.44 | -144.44 | 37.30 | 10.09 | 23.39 | 112.50 | -25.0 | -12.5 | -12.50 | 75.0 | 56.25 | 892.93 | 76.6 | 46.42 |
| 23Q3 (19) | 28.70 | -29.59 | 238.58 | -615.50 | -81.25 | 21.46 | -403.39 | -54.64 | 17.38 | -403.39 | -54.64 | 17.82 | -0.88 | 16.98 | 5.38 | -0.57 | 19.72 | 12.31 | 0.00 | 0 | 0 | -233.33 | -29.63 | 12.5 | 33.88 | 2.42 | 14.46 | 150.00 | 10.53 | -7.14 | -50.00 | -75.0 | 18.75 | 505.61 | 85.93 | -10.7 |
| 23Q2 (18) | 40.76 | -45.7 | 142.19 | -339.59 | 52.04 | 38.74 | -260.85 | 49.23 | 35.44 | -260.85 | 49.23 | 35.46 | -1.06 | -11.58 | -6.0 | -0.71 | -10.94 | 0.0 | 0.00 | 0 | 0 | -180.00 | 32.5 | 46.0 | 33.08 | 4.16 | 14.46 | 135.71 | -1.98 | 0.0 | -28.57 | 25.71 | 20.0 | 271.94 | -52.7 | -35.34 |
| 23Q1 (17) | 75.06 | 2.64 | 405.11 | -708.10 | 6.32 | 2.78 | -513.82 | 10.05 | -11.95 | -513.82 | 9.67 | -12.0 | -0.95 | 5.0 | -7.95 | -0.64 | 7.25 | 0.0 | 0.00 | 0 | 0 | -266.67 | 40.74 | 0.0 | 31.76 | 5.06 | 13.39 | 138.46 | 7.69 | -10.0 | -38.46 | -34.62 | 28.57 | 574.90 | -5.73 | 7.85 |
| 22Q4 (16) | 73.13 | 453.11 | 99.43 | -755.84 | 3.55 | -20.64 | -571.23 | -17.0 | -28.71 | -568.84 | -15.89 | -28.17 | -1.00 | -7.53 | 2.91 | -0.69 | -6.15 | 10.39 | 0.00 | 0 | 0 | -450.00 | -68.75 | -22.73 | 30.23 | 2.13 | 11.92 | 128.57 | -20.41 | -8.16 | -28.57 | 53.57 | 28.57 | 609.86 | 7.71 | 36.94 |
| 22Q3 (15) | -20.71 | -223.05 | -147.93 | -783.64 | -41.36 | -152.85 | -488.22 | -20.83 | -132.86 | -490.85 | -21.44 | -133.45 | -0.93 | 7.0 | -19.23 | -0.65 | 8.45 | -14.04 | 0.00 | 0 | 0 | -266.67 | 20.0 | -90.48 | 29.60 | 2.42 | 14.33 | 161.54 | 19.03 | 4.52 | -61.54 | -72.31 | -35.38 | 566.21 | 34.63 | 105.11 |
| 22Q2 (14) | 16.83 | 13.26 | -69.7 | -554.34 | 23.89 | -260.71 | -404.07 | 11.96 | -286.0 | -404.18 | 11.9 | -287.33 | -1.00 | -13.64 | -38.89 | -0.71 | -10.94 | -33.96 | 0.00 | 0 | -100.0 | -333.33 | -25.0 | -455.55 | 28.90 | 3.18 | 12.85 | 135.71 | -11.79 | -9.52 | -35.71 | 33.67 | 28.57 | 420.58 | -21.1 | 199.99 |
| 22Q1 (13) | 14.86 | -59.48 | -67.86 | -728.37 | -16.26 | -558.74 | -458.97 | -3.41 | -584.72 | -458.75 | -3.36 | -584.5 | -0.88 | 14.56 | -51.72 | -0.64 | 16.88 | -52.38 | 0.00 | 0 | -100.0 | -266.67 | 27.27 | -593.37 | 28.01 | 3.7 | 11.42 | 153.85 | 9.89 | -1.1 | -53.85 | -34.62 | 19.23 | 533.06 | 19.69 | 350.37 |
| 21Q4 (12) | 36.67 | -15.14 | 4.09 | -626.51 | -102.15 | -115.2 | -443.82 | -111.69 | -61.13 | -443.82 | -111.08 | -60.87 | -1.03 | -32.05 | 23.13 | -0.77 | -35.09 | 25.96 | 0.00 | 0 | 0 | -366.67 | -161.91 | -60.42 | 27.01 | 4.33 | 11.94 | 140.00 | -9.41 | 33.33 | -40.00 | 12.0 | -700.0 | 445.36 | 61.33 | 110.63 |
| 21Q3 (11) | 43.21 | -22.21 | 22.69 | -309.92 | -101.67 | -57.89 | -209.66 | -100.29 | -66.87 | -210.26 | -101.49 | -67.18 | -0.78 | -8.33 | -4.0 | -0.57 | -7.55 | 0.0 | 0.00 | -100.0 | 0 | -140.00 | -133.33 | -79.99 | 25.89 | 1.09 | 12.13 | 154.55 | 3.03 | 0.0 | -45.45 | 9.09 | 16.67 | 276.05 | 96.9 | 53.51 |
| 21Q2 (10) | 55.55 | 20.13 | 137.9 | -153.68 | -38.99 | 67.65 | -104.68 | -56.17 | 69.49 | -104.35 | -55.7 | 69.52 | -0.72 | -24.14 | 33.33 | -0.53 | -26.19 | 36.9 | 0.01 | 0.0 | 0 | -60.00 | -56.01 | 75.0 | 25.61 | 1.87 | 16.2 | 150.00 | -3.57 | 9.09 | -50.00 | 25.0 | -33.33 | 140.20 | 18.45 | 0 |
| 21Q1 (9) | 46.24 | 31.25 | 42.72 | -110.57 | 62.02 | 59.81 | -67.03 | 75.66 | 66.04 | -67.02 | 75.71 | 66.05 | -0.58 | 56.72 | 38.95 | -0.42 | 59.62 | 43.24 | 0.01 | 0 | 0 | -38.46 | 83.17 | 73.08 | 25.14 | 4.19 | 17.04 | 155.56 | 48.15 | 8.89 | -66.67 | -1233.33 | -55.56 | 118.36 | -44.02 | 0 |
| 20Q4 (8) | 35.23 | 0.03 | -8.71 | -291.13 | -48.32 | -97.85 | -275.44 | -119.23 | -125.14 | -275.88 | -119.35 | -126.84 | -1.34 | -78.67 | -5.51 | -1.04 | -82.46 | -2.97 | 0.00 | 0 | -100.0 | -228.57 | -193.87 | -143.81 | 24.13 | 4.5 | 14.36 | 105.00 | -32.06 | -12.5 | -5.00 | 90.83 | 75.0 | 211.44 | 17.58 | 65.07 |
| 20Q3 (7) | 35.22 | 50.84 | -11.8 | -196.29 | 58.68 | -31.18 | -125.64 | 63.38 | 4.01 | -125.77 | 63.26 | 4.0 | -0.75 | 30.56 | 34.21 | -0.57 | 32.14 | 38.04 | 0.00 | 0 | -100.0 | -77.78 | 67.59 | 16.24 | 23.09 | 4.76 | 16.79 | 154.55 | 12.4 | 39.09 | -54.55 | -45.45 | -227.27 | 179.82 | 0 | 28.14 |
| 20Q2 (6) | 23.35 | -27.93 | -54.08 | -475.04 | -72.67 | -222.32 | -343.07 | -73.82 | -190.74 | -342.35 | -73.43 | -190.27 | -1.08 | -13.68 | -4.85 | -0.84 | -13.51 | 0.0 | 0.00 | 0 | -100.0 | -240.00 | -68.0 | -180.01 | 22.04 | 2.61 | 18.11 | 137.50 | -3.75 | 10.0 | -37.50 | 12.5 | -50.0 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 32.40 | -16.04 | -14.94 | -275.12 | -86.97 | -88.31 | -197.37 | -61.33 | -110.75 | -197.40 | -62.31 | -110.29 | -0.95 | 25.2 | -17.28 | -0.74 | 26.73 | -13.85 | 0.00 | -100.0 | -100.0 | -142.86 | -52.38 | -150.02 | 21.48 | 1.8 | 22.95 | 142.86 | 19.05 | -7.14 | -42.86 | -114.29 | 20.41 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 38.59 | -3.36 | 0.0 | -147.15 | 1.66 | 0.0 | -122.34 | 6.53 | 0.0 | -121.62 | 7.17 | 0.0 | -1.27 | -11.4 | 0.0 | -1.01 | -9.78 | 0.0 | 0.01 | 0.0 | 0.0 | -93.75 | -0.96 | 0.0 | 21.10 | 6.73 | 0.0 | 120.00 | 8.0 | 0.0 | -20.00 | -20.0 | 0.0 | 128.09 | -8.72 | 0.0 |
| 19Q3 (3) | 39.93 | -21.47 | 0.0 | -149.63 | -1.53 | 0.0 | -130.89 | -10.92 | 0.0 | -131.01 | -11.08 | 0.0 | -1.14 | -10.68 | 0.0 | -0.92 | -9.52 | 0.0 | 0.01 | 0.0 | 0.0 | -92.86 | -8.34 | 0.0 | 19.77 | 5.95 | 0.0 | 111.11 | -11.11 | 0.0 | -16.67 | 33.33 | 0.0 | 140.33 | 3.43 | 0.0 |
| 19Q2 (2) | 50.85 | 33.5 | 0.0 | -147.38 | -0.88 | 0.0 | -118.00 | -26.0 | 0.0 | -117.94 | -25.64 | 0.0 | -1.03 | -27.16 | 0.0 | -0.84 | -29.23 | 0.0 | 0.01 | 0.0 | 0.0 | -85.71 | -50.0 | 0.0 | 18.66 | 6.81 | 0.0 | 125.00 | -18.75 | 0.0 | -25.00 | 53.57 | 0.0 | 135.68 | -3.35 | 0.0 |
| 19Q1 (1) | 38.09 | 0.0 | 0.0 | -146.10 | 0.0 | 0.0 | -93.65 | 0.0 | 0.0 | -93.87 | 0.0 | 0.0 | -0.81 | 0.0 | 0.0 | -0.65 | 0.0 | 0.0 | 0.01 | 0.0 | 0.0 | -57.14 | 0.0 | 0.0 | 17.47 | 0.0 | 0.0 | 153.85 | 0.0 | 0.0 | -53.85 | 0.0 | 0.0 | 140.38 | 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) | 40.69 | 106.23 | -591.86 | 0 | 100.00 | -8.33 | -448.22 | 0 | -448.65 | 0 | -4.09 | 0 | -2.69 | 0 | 0.01 | 0.0 | -291.67 | 0 | 37.30 | 23.39 | 132.73 | -9.81 | -32.73 | 0 | 0.00 | 0 | 457.21 | -12.52 |
| 2022 (9) | 19.73 | -58.62 | -693.52 | 0 | 109.09 | 181.82 | -473.08 | 0 | -473.16 | 0 | -3.81 | 0 | -2.69 | 0 | 0.01 | -50.0 | -318.18 | 0 | 30.23 | 11.92 | 147.17 | -1.15 | -47.17 | 0 | 0.28 | 1.01 | 522.67 | 179.68 |
| 2021 (8) | 47.68 | 46.75 | -213.02 | 0 | 38.71 | -9.68 | -143.31 | 0 | -143.30 | 0 | -3.11 | 0 | -2.29 | 0 | 0.02 | 0.0 | -93.55 | 0 | 27.01 | 11.94 | 148.89 | 12.13 | -48.89 | 0 | 0.28 | 0.78 | 186.88 | -21.32 |
| 2020 (7) | 32.49 | -22.18 | -288.03 | 0 | 42.86 | 103.57 | -219.25 | 0 | -219.29 | 0 | -4.11 | 0 | -3.19 | 0 | 0.02 | -33.33 | -164.29 | 0 | 24.13 | 14.36 | 132.79 | 4.33 | -31.15 | 0 | 0.27 | -43.59 | 237.51 | 74.92 |
| 2019 (6) | 41.75 | -0.64 | -147.55 | 0 | 21.05 | 32.79 | -116.46 | 0 | -116.33 | 0 | -4.24 | 0 | -3.42 | 0 | 0.03 | -25.0 | -85.96 | 0 | 21.10 | 25.15 | 127.27 | -16.23 | -27.27 | 0 | 0.49 | 29.34 | 135.78 | 45.66 |
| 2018 (5) | 42.02 | 9.09 | -96.90 | 0 | 15.85 | 16.26 | -63.57 | 0 | -63.53 | 0 | -3.22 | 0 | -2.59 | 0 | 0.04 | -20.0 | -39.02 | 0 | 16.86 | -7.82 | 151.92 | -54.78 | -51.92 | 0 | 0.38 | 0 | 93.22 | 22.4 |
| 2017 (4) | 38.52 | -11.26 | -76.39 | 0 | 13.64 | 70.0 | -22.40 | 0 | -22.37 | 0 | -1.49 | 0 | -1.05 | 0 | 0.05 | -44.44 | -2.73 | 0 | 18.29 | -33.68 | 336.00 | 140.91 | -236.00 | 0 | 0.00 | 0 | 76.16 | 50.39 |
| 2016 (3) | 43.41 | 7.21 | -28.52 | 0 | 8.02 | 13.9 | -20.13 | 0 | -20.05 | 0 | -2.24 | 0 | -1.53 | 0 | 0.09 | -10.0 | -8.02 | 0 | 27.58 | 5.27 | 139.47 | -4.9 | -42.11 | 0 | 0.00 | 0 | 50.64 | 2.14 |
| 2015 (2) | 40.49 | -1.36 | -30.73 | 0 | 7.04 | -8.45 | -21.02 | 0 | -20.95 | 0 | -2.60 | 0 | -1.84 | 0 | 0.10 | 11.11 | -8.92 | 0 | 26.20 | 11.58 | 146.67 | 0.0 | -46.67 | 0 | 0.00 | 0 | 49.58 | -17.81 |
| 2014 (1) | 41.05 | 0 | -45.28 | 0 | 7.69 | 52.75 | -30.90 | 0 | -31.15 | 0 | -3.42 | 0 | -2.57 | 0 | 0.09 | -25.0 | -16.92 | 0 | 23.48 | 11.07 | 146.67 | 3.53 | -46.67 | 0 | 0.00 | 0 | 60.32 | 35.52 |
