- 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) | -2.42 | 71.63 | -166.85 | -41.01 | 16.88 | -20.97 | -40.56 | 11.01 | -12.01 | -40.56 | 11.01 | -11.61 | -7.83 | -0.51 | -39.32 | -3.80 | 1.04 | -31.03 | 0.10 | 11.11 | 25.0 | -30.37 | 13.1 | -18.22 | 96.15 | 2.04 | 4.43 | 101.06 | -6.69 | 8.03 | -1.06 | 87.24 | -116.43 | 28.18 | -4.73 | 0.57 |
| 23Q3 (19) | -8.53 | -181.52 | -135.23 | -49.34 | -19.27 | -2391.92 | -45.58 | -111.21 | -2597.04 | -45.58 | -111.21 | -2597.04 | -7.79 | -96.72 | -2063.89 | -3.84 | -106.45 | -2642.86 | 0.09 | -10.0 | -25.0 | -34.95 | -194.19 | -810.37 | 94.23 | 3.16 | 19.54 | 108.31 | -43.55 | -8.8 | -8.31 | 90.96 | 55.7 | 29.58 | 8.99 | 47.46 |
| 23Q2 (18) | -3.03 | -230.6 | -109.39 | -41.37 | 8.55 | -503.61 | -21.58 | 51.2 | -296.18 | -21.58 | 51.2 | -314.94 | -3.96 | 33.22 | -227.74 | -1.86 | 35.86 | -194.42 | 0.10 | 42.86 | -47.37 | -11.88 | 61.4 | -176.2 | 91.34 | -1.3 | 38.92 | 191.88 | 87.34 | 105.29 | -91.88 | -3697.5 | -1505.69 | 27.14 | -24.76 | 59.27 |
| 23Q1 (17) | 2.32 | -35.91 | -92.28 | -45.24 | -33.45 | -484.04 | -44.22 | -22.12 | -429.51 | -44.22 | -21.68 | -460.69 | -5.93 | -5.52 | -230.04 | -2.90 | 0.0 | -202.11 | 0.07 | -12.5 | -69.57 | -30.78 | -19.81 | -278.02 | 92.54 | 0.51 | 53.72 | 102.42 | 9.48 | 16.82 | -2.42 | -137.5 | -119.62 | 36.07 | 28.73 | 151.01 |
| 22Q4 (16) | 3.62 | -85.05 | -90.67 | -33.90 | -1612.12 | -244.38 | -36.21 | -2042.6 | -255.07 | -36.34 | -2050.3 | -275.64 | -5.62 | -1461.11 | -153.68 | -2.90 | -1971.43 | -146.85 | 0.08 | -33.33 | -72.41 | -25.69 | -622.15 | -196.29 | 92.07 | 16.8 | 31.96 | 93.55 | -21.22 | -7.04 | 6.45 | 134.41 | 1117.2 | 28.02 | 39.68 | 104.23 |
| 22Q3 (15) | 24.21 | -24.98 | -39.32 | -1.98 | -119.32 | -108.18 | -1.69 | -115.36 | -107.21 | -1.69 | -116.83 | -107.41 | -0.36 | -111.61 | -103.09 | -0.14 | -107.11 | -102.15 | 0.12 | -36.84 | -57.14 | 4.92 | -68.44 | -81.89 | 78.83 | 19.89 | 6.67 | 118.75 | 27.05 | 14.92 | -18.75 | -386.87 | -462.5 | 20.06 | 17.72 | 60.74 |
| 22Q2 (14) | 32.27 | 7.42 | 7.93 | 10.25 | -12.99 | -23.28 | 11.00 | -18.03 | -1.17 | 10.04 | -18.11 | -7.29 | 3.10 | -32.02 | -28.9 | 1.97 | -30.63 | -17.23 | 0.19 | -17.39 | -9.52 | 15.59 | -9.83 | -4.82 | 65.75 | 9.22 | -29.65 | 93.46 | 6.61 | -22.39 | 6.54 | -46.99 | 132.0 | 17.04 | 18.58 | 26.79 |
| 22Q1 (13) | 30.04 | -22.58 | 32.57 | 11.78 | -49.83 | 156.09 | 13.42 | -42.53 | 191.74 | 12.26 | -40.74 | 167.1 | 4.56 | -56.45 | 185.0 | 2.84 | -54.12 | 202.13 | 0.23 | -20.69 | 35.29 | 17.29 | -35.19 | 56.47 | 60.20 | -13.72 | -37.08 | 87.67 | -12.88 | -12.33 | 12.33 | 2043.84 | 0 | 14.37 | 4.74 | -3.82 |
| 21Q4 (12) | 38.80 | -2.76 | 152.28 | 23.48 | -2.98 | 506.23 | 23.35 | -0.34 | 388.63 | 20.69 | -9.33 | 355.12 | 10.47 | -10.21 | 457.34 | 6.19 | -4.77 | 657.66 | 0.29 | 3.57 | 81.25 | 26.68 | -1.77 | 8437.5 | 69.77 | -5.59 | -37.61 | 100.63 | -2.61 | 39.77 | -0.63 | 80.97 | -102.27 | 13.72 | 9.94 | -18.58 |
| 21Q3 (11) | 39.90 | 33.44 | 118.75 | 24.20 | 81.14 | 815.98 | 23.43 | 110.51 | 760.0 | 22.82 | 110.71 | 670.5 | 11.66 | 167.43 | 842.68 | 6.50 | 173.11 | 1685.37 | 0.28 | 33.33 | 75.0 | 27.16 | 65.81 | 415.37 | 73.90 | -20.93 | -50.06 | 103.33 | -14.19 | 6.78 | -3.33 | 83.68 | -203.33 | 12.48 | -7.14 | -25.89 |
| 21Q2 (10) | 29.90 | 31.95 | 80.45 | 13.36 | 190.43 | 351.13 | 11.13 | 141.96 | 252.67 | 10.83 | 135.95 | 240.28 | 4.36 | 172.5 | 240.65 | 2.38 | 153.19 | 335.64 | 0.21 | 23.53 | 31.25 | 16.38 | 48.24 | 875.0 | 93.46 | -2.31 | -39.2 | 120.42 | 20.42 | 63.07 | -20.42 | 0 | -173.75 | 13.44 | -10.04 | 0 |
| 21Q1 (9) | 22.66 | 47.33 | 68.1 | 4.60 | 179.58 | 142.79 | 4.60 | 156.86 | 146.05 | 4.59 | 156.6 | 143.92 | 1.60 | 154.61 | 141.24 | 0.94 | 184.68 | 173.44 | 0.17 | 6.25 | 21.43 | 11.05 | 3553.12 | 0 | 95.67 | -14.45 | -37.06 | 100.00 | 38.89 | -7.61 | 0.00 | -100.0 | 100.0 | 14.94 | -11.34 | 0 |
| 20Q4 (8) | 15.38 | -15.68 | 37.44 | -5.78 | -71.01 | 40.17 | -8.09 | -127.89 | 14.21 | -8.11 | -102.75 | 14.81 | -2.93 | -86.62 | 26.75 | -1.11 | -170.73 | 13.28 | 0.16 | 0.0 | 0.0 | -0.32 | -106.07 | 0 | 111.83 | -24.42 | -32.79 | 72.00 | -25.6 | -29.47 | 28.00 | 768.0 | 1444.0 | 16.85 | 0.06 | 15.02 |
| 20Q3 (7) | 18.24 | 10.08 | 15.37 | -3.38 | 36.47 | 60.24 | -3.55 | 51.3 | 57.43 | -4.00 | 48.19 | 54.29 | -1.57 | 49.35 | 52.85 | -0.41 | 59.41 | 61.68 | 0.16 | 0.0 | 6.67 | 5.27 | 213.69 | 242.21 | 147.97 | -3.74 | -8.59 | 96.77 | 31.05 | -5.56 | 3.23 | -88.35 | 230.65 | 16.84 | 0 | -0.77 |
| 20Q2 (6) | 16.57 | 22.92 | 39.13 | -5.32 | 50.51 | 68.01 | -7.29 | 27.03 | 52.23 | -7.72 | 26.12 | 50.8 | -3.10 | 20.1 | 43.74 | -1.01 | 21.09 | 46.84 | 0.16 | 14.29 | 14.29 | 1.68 | 0 | 143.08 | 153.72 | 1.12 | -3.16 | 73.85 | -31.77 | -32.39 | 27.69 | 492.31 | 400.36 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 13.48 | 20.46 | 11.4 | -10.75 | -11.28 | 56.39 | -9.99 | -5.94 | 62.57 | -10.45 | -9.77 | 61.41 | -3.88 | 3.0 | 48.47 | -1.28 | 0.0 | 54.12 | 0.14 | -12.5 | 27.27 | 0.00 | 0 | 100.0 | 152.01 | -8.64 | -1.33 | 108.24 | 6.03 | 17.45 | -7.06 | -238.82 | -190.0 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 11.19 | -29.22 | 0.0 | -9.66 | -13.65 | 0.0 | -9.43 | -13.07 | 0.0 | -9.52 | -8.8 | 0.0 | -4.00 | -20.12 | 0.0 | -1.28 | -19.63 | 0.0 | 0.16 | 6.67 | 0.0 | -0.00 | -100.0 | 0.0 | 166.38 | 2.79 | 0.0 | 102.08 | -0.38 | 0.0 | -2.08 | 15.62 | 0.0 | 14.65 | -13.67 | 0.0 |
| 19Q3 (3) | 15.81 | 32.75 | 0.0 | -8.50 | 48.89 | 0.0 | -8.34 | 45.35 | 0.0 | -8.75 | 44.23 | 0.0 | -3.33 | 39.56 | 0.0 | -1.07 | 43.68 | 0.0 | 0.15 | 7.14 | 0.0 | 1.54 | 139.49 | 0.0 | 161.87 | 1.97 | 0.0 | 102.47 | -6.18 | 0.0 | -2.47 | 73.22 | 0.0 | 16.97 | -15.19 | 0.0 |
| 19Q2 (2) | 11.91 | -1.57 | 0.0 | -16.63 | 32.54 | 0.0 | -15.26 | 42.83 | 0.0 | -15.69 | 42.06 | 0.0 | -5.51 | 26.83 | 0.0 | -1.90 | 31.9 | 0.0 | 0.14 | 27.27 | 0.0 | -3.90 | 69.63 | 0.0 | 158.74 | 3.04 | 0.0 | 109.22 | 18.52 | 0.0 | -9.22 | -217.55 | 0.0 | 20.01 | -22.95 | 0.0 |
| 19Q1 (1) | 12.10 | 0.0 | 0.0 | -24.65 | 0.0 | 0.0 | -26.69 | 0.0 | 0.0 | -27.08 | 0.0 | 0.0 | -7.53 | 0.0 | 0.0 | -2.79 | 0.0 | 0.0 | 0.11 | 0.0 | 0.0 | -12.84 | 0.0 | 0.0 | 154.06 | 0.0 | 0.0 | 92.16 | 0.0 | 0.0 | 7.84 | 0.0 | 0.0 | 25.97 | 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) | -3.11 | 0 | -44.07 | 0 | 5.11 | 52.45 | -37.29 | 0 | -37.29 | 0 | -25.57 | 0 | -12.37 | 0 | 0.35 | -42.62 | -26.45 | 0 | 96.15 | 4.43 | 118.13 | 52.28 | -18.13 | 0 | 0.42 | -16.86 | 29.90 | 63.03 |
| 2022 (9) | 25.62 | -25.78 | 1.78 | -90.31 | 3.35 | 17.69 | 2.29 | -87.01 | 1.58 | -90.43 | 1.74 | -93.86 | 1.32 | -91.57 | 0.61 | -33.7 | 7.92 | -64.0 | 92.07 | 31.96 | 77.57 | -25.52 | 22.43 | 0 | 0.51 | -35.45 | 18.34 | 35.75 |
| 2021 (8) | 34.52 | 116.7 | 18.37 | 0 | 2.85 | -51.62 | 17.63 | 0 | 16.51 | 0 | 28.35 | 0 | 15.65 | 0 | 0.92 | 61.4 | 22.00 | 1225.3 | 69.77 | -37.61 | 104.15 | 20.03 | -4.15 | 0 | 0.79 | 81.07 | 13.51 | -21.73 |
| 2020 (7) | 15.93 | 24.55 | -6.27 | 0 | 5.89 | -19.46 | -7.23 | 0 | -7.56 | 0 | -10.23 | 0 | -3.57 | 0 | 0.57 | 1.79 | 1.66 | 0 | 111.83 | -32.79 | 86.77 | -13.4 | 13.23 | 0 | 0.44 | -12.42 | 17.26 | -8.97 |
| 2019 (6) | 12.79 | -9.93 | -14.21 | 0 | 7.31 | 39.8 | -14.18 | 0 | -14.50 | 0 | -20.67 | 0 | -7.18 | 0 | 0.56 | -16.42 | -3.23 | 0 | 166.38 | 14.36 | 100.19 | 4.05 | -0.19 | 0 | 0.50 | -76.7 | 18.96 | 15.47 |
| 2018 (5) | 14.20 | 15.35 | -13.42 | 0 | 5.23 | 40.77 | -13.93 | 0 | -14.24 | 0 | -21.53 | 0 | -8.75 | 0 | 0.67 | -15.19 | -6.05 | 0 | 145.49 | 30.51 | 96.29 | 11.6 | 3.71 | -72.6 | 2.14 | 0 | 16.42 | 21.18 |
| 2017 (4) | 12.31 | -6.6 | -7.76 | 0 | 3.71 | 16.15 | -8.98 | 0 | -9.52 | 0 | -15.26 | 0 | -6.88 | 0 | 0.79 | 0.0 | -3.50 | 0 | 111.48 | 15.01 | 86.28 | 11.08 | 13.54 | -39.99 | 0.00 | 0 | 13.55 | 13.77 |
| 2016 (3) | 13.18 | 2.01 | -5.15 | 0 | 3.20 | 32.47 | -6.65 | 0 | -6.79 | 0 | -10.08 | 0 | -4.85 | 0 | 0.79 | -11.24 | -1.85 | 0 | 96.93 | 21.88 | 77.67 | -13.83 | 22.56 | 128.8 | 0.00 | 0 | 11.91 | 23.42 |
| 2015 (2) | 12.92 | -10.34 | -1.73 | 0 | 2.41 | 25.78 | -1.91 | 0 | -1.97 | 0 | -3.09 | 0 | -1.30 | 0 | 0.89 | -5.32 | 1.75 | -62.04 | 79.53 | 9.58 | 90.14 | 78.73 | 9.86 | -80.11 | 0.00 | 0 | 9.65 | 6.87 |
| 2014 (1) | 14.41 | 0 | 0.76 | 0 | 1.92 | -10.75 | 1.51 | 0 | 1.40 | 0 | 2.25 | 0 | 1.74 | 0 | 0.94 | 6.82 | 4.61 | 41.85 | 72.58 | 6.56 | 50.43 | -79.23 | 49.57 | 0 | 0.00 | 0 | 9.03 | -14.16 |
