- 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) | -20.40 | 4.0 | 17.68 | -42.06 | -1.15 | 8.27 | -51.37 | -63.55 | -327.02 | -48.98 | -49.56 | -600.72 | -5.07 | -61.98 | -759.32 | -4.24 | -60.61 | -909.52 | 0.09 | 12.5 | 50.0 | -42.24 | -95.37 | -1376.92 | 19.81 | 9.21 | 7.02 | 83.05 | -36.81 | -77.51 | 18.64 | 159.32 | 106.92 | 54.11 | 13.53 | 0.07 |
| 23Q3 (19) | -21.25 | -74.32 | -117.28 | -41.58 | -44.43 | -51.31 | -31.41 | -80.1 | -821.11 | -32.75 | -75.89 | -371.22 | -3.13 | -58.88 | -353.62 | -2.64 | -60.98 | -513.95 | 0.08 | -11.11 | 33.33 | -21.62 | -149.65 | -554.2 | 18.14 | 2.66 | -66.21 | 131.43 | -19.68 | -84.98 | -31.43 | 50.61 | 95.81 | 47.66 | 10.73 | 20.93 |
| 23Q2 (18) | -12.19 | -1604.94 | -77.18 | -28.79 | -117.12 | -29.16 | -17.44 | -40.42 | -23.43 | -18.62 | -37.72 | -20.99 | -1.97 | -24.68 | -20.86 | -1.64 | -25.19 | -59.22 | 0.09 | -10.0 | 28.57 | -8.66 | -76.73 | -16.87 | 17.67 | -10.98 | -67.48 | 163.64 | 55.02 | 3.64 | -63.64 | -1045.45 | -9.92 | 43.04 | 13.35 | 12.64 |
| 23Q1 (17) | 0.81 | 103.27 | 105.15 | -13.26 | 71.08 | 58.0 | -12.42 | -3.24 | 44.68 | -13.52 | -93.42 | 46.35 | -1.58 | -167.8 | 34.71 | -1.31 | -211.9 | 13.25 | 0.10 | 66.67 | 66.67 | -4.90 | -71.33 | 65.97 | 19.85 | 7.24 | -65.52 | 105.56 | -71.41 | -24.22 | -5.56 | 97.94 | 85.86 | 37.97 | -29.78 | -15.94 |
| 22Q4 (16) | -24.78 | -153.37 | -347.29 | -45.85 | -66.85 | -116.38 | -12.03 | -252.79 | -144.33 | -6.99 | -0.58 | -217.68 | -0.59 | 14.49 | -183.1 | -0.42 | 2.33 | -193.33 | 0.06 | 0.0 | -14.29 | -2.86 | -160.08 | -108.53 | 18.51 | -65.52 | -68.99 | 369.23 | -57.8 | 581.12 | -269.23 | 64.1 | -252.33 | 54.07 | 37.2 | 30.51 |
| 22Q3 (15) | -9.78 | -42.15 | -23.95 | -27.48 | -23.28 | -26.64 | -3.41 | 75.87 | 84.92 | -6.95 | 54.84 | 75.29 | -0.69 | 57.67 | 80.17 | -0.43 | 58.25 | 78.82 | 0.06 | -14.29 | -14.29 | 4.76 | 164.24 | 131.42 | 53.68 | -1.2 | -24.95 | 875.00 | 454.17 | 799.31 | -750.00 | -1195.45 | -13975.0 | 39.41 | 3.14 | 17.68 |
| 22Q2 (14) | -6.88 | 56.26 | -5014.29 | -22.29 | 29.39 | -79.32 | -14.13 | 37.06 | 26.64 | -15.39 | 38.93 | 24.93 | -1.63 | 32.64 | 39.18 | -1.03 | 31.79 | 34.81 | 0.07 | 16.67 | -12.5 | -7.41 | 48.54 | 42.02 | 54.33 | -5.63 | -10.82 | 157.89 | 13.36 | 151.2 | -57.89 | -47.37 | -268.86 | 38.21 | -15.41 | 10.12 |
| 22Q1 (13) | -15.73 | -183.94 | -169.81 | -31.57 | -48.99 | -67.21 | -22.45 | -182.72 | -11.86 | -25.20 | -524.24 | -21.92 | -2.42 | -440.85 | -0.83 | -1.51 | -435.56 | -4.86 | 0.06 | -14.29 | -14.29 | -14.40 | -142.93 | -7.38 | 57.57 | -3.55 | -1.91 | 139.29 | 281.49 | 48.27 | -39.29 | -122.23 | -748.21 | 45.17 | 9.03 | 15.55 |
| 21Q4 (12) | -5.54 | 29.78 | -122.49 | -21.19 | 2.35 | -12.35 | 27.14 | 219.98 | 228.2 | 5.94 | 121.12 | 127.53 | 0.71 | 120.4 | 130.74 | 0.45 | 122.17 | 132.14 | 0.07 | 0.0 | 0.0 | 33.54 | 321.39 | 345.89 | 59.69 | -16.55 | 7.12 | -76.74 | -178.88 | -187.33 | 176.74 | 3169.77 | 1358.14 | 41.43 | 23.71 | -4.74 |
| 21Q3 (11) | -7.89 | -5735.71 | -122.88 | -21.70 | -74.58 | -37.08 | -22.62 | -17.45 | 0.75 | -28.13 | -37.22 | 3.5 | -3.48 | -29.85 | -10.83 | -2.03 | -28.48 | -1.5 | 0.07 | -12.5 | 0.0 | -15.15 | -18.54 | 3.63 | 71.53 | 17.42 | 35.94 | 97.30 | 54.79 | 40.11 | 5.41 | -84.23 | -82.31 | 33.49 | -3.49 | -4.42 |
| 21Q2 (10) | 0.14 | 102.4 | 102.67 | -12.43 | 34.16 | 42.05 | -19.26 | 4.04 | -125.59 | -20.50 | 0.82 | -125.11 | -2.68 | -11.67 | -131.57 | -1.58 | -9.72 | -127.57 | 0.08 | 14.29 | 14.29 | -12.78 | 4.7 | -115.44 | 60.92 | 3.8 | 26.08 | 62.86 | -33.09 | 323.93 | 34.29 | 465.71 | -73.23 | 34.70 | -11.23 | 0 |
| 21Q1 (9) | -5.83 | -134.14 | -45.39 | -18.88 | -0.11 | 11.65 | -20.07 | 5.2 | 10.6 | -20.67 | 4.22 | -12.03 | -2.40 | -3.9 | -3.0 | -1.44 | -2.86 | 0.0 | 0.07 | 0.0 | -12.5 | -13.41 | 1.69 | 2.9 | 58.69 | 5.33 | 11.81 | 93.94 | 6.9 | -1.24 | 6.06 | -50.0 | 24.24 | 39.09 | -10.12 | 10.99 |
| 20Q4 (8) | -2.49 | 29.66 | 24.55 | -18.86 | -19.14 | 19.06 | -21.17 | 7.11 | 32.96 | -21.58 | 25.97 | 26.95 | -2.31 | 26.43 | 34.38 | -1.40 | 30.0 | 37.78 | 0.07 | 0.0 | -12.5 | -13.64 | 13.23 | 39.99 | 55.72 | 5.89 | 8.01 | 87.88 | 26.55 | 20.03 | 12.12 | -60.33 | -54.75 | 43.49 | 24.12 | 14.57 |
| 20Q3 (7) | -3.54 | 32.44 | -175.8 | -15.83 | 26.2 | 14.89 | -22.79 | -130.28 | -19.32 | -29.15 | -135.7 | -67.43 | -3.14 | -136.98 | -14.18 | -2.00 | -134.9 | -14.94 | 0.07 | 0.0 | -30.0 | -15.72 | -118.99 | -22.24 | 52.62 | 8.9 | 6.78 | 69.44 | 347.4 | -29.01 | 30.56 | -76.14 | 1305.56 | 35.04 | 0 | 0.23 |
| 20Q2 (6) | -5.24 | -30.67 | -178.72 | -21.45 | -0.37 | -14.58 | 75.26 | 435.23 | 549.58 | 81.65 | 542.55 | 671.38 | 8.49 | 464.38 | 535.38 | 5.73 | 497.92 | 581.51 | 0.07 | -12.5 | -22.22 | 82.78 | 699.42 | 1142.57 | 48.32 | -7.94 | -7.04 | -28.07 | -129.51 | -125.26 | 128.07 | 2525.44 | 1252.63 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | -4.01 | -21.52 | -149.69 | -21.37 | 8.28 | -172.23 | -22.45 | 28.91 | -193.46 | -18.45 | 37.54 | -156.96 | -2.33 | 33.81 | -99.15 | -1.44 | 36.0 | -114.93 | 0.08 | 0.0 | -27.27 | -13.81 | 39.24 | -3441.03 | 52.49 | 1.74 | -2.71 | 95.12 | 29.92 | -4.88 | 4.88 | -81.79 | 0 | 35.22 | -7.22 | 25.83 |
| 19Q4 (4) | -3.30 | -170.66 | 0.0 | -23.30 | -25.27 | 0.0 | -31.58 | -65.34 | 0.0 | -29.54 | -69.67 | 0.0 | -3.52 | -28.0 | 0.0 | -2.25 | -29.31 | 0.0 | 0.08 | -20.0 | 0.0 | -22.73 | -76.75 | 0.0 | 51.59 | 4.69 | 0.0 | 73.21 | -25.16 | 0.0 | 26.79 | 1132.14 | 0.0 | 37.96 | 8.58 | 0.0 |
| 19Q3 (3) | 4.67 | 348.4 | 0.0 | -18.60 | 0.64 | 0.0 | -19.10 | -14.1 | 0.0 | -17.41 | -21.83 | 0.0 | -2.75 | -41.03 | 0.0 | -1.74 | -46.22 | 0.0 | 0.10 | 11.11 | 0.0 | -12.86 | -61.96 | 0.0 | 49.28 | -5.19 | 0.0 | 97.83 | -11.96 | 0.0 | 2.17 | 119.57 | 0.0 | 34.96 | 1.42 | 0.0 |
| 19Q2 (2) | -1.88 | -123.3 | 0.0 | -18.72 | -138.47 | 0.0 | -16.74 | -118.82 | 0.0 | -14.29 | -99.03 | 0.0 | -1.95 | -66.67 | 0.0 | -1.19 | -77.61 | 0.0 | 0.09 | -18.18 | 0.0 | -7.94 | -1935.9 | 0.0 | 51.98 | -3.65 | 0.0 | 111.11 | 11.11 | 0.0 | -11.11 | 0 | 0.0 | 34.47 | 23.15 | 0.0 |
| 19Q1 (1) | 8.07 | 0.0 | 0.0 | -7.85 | 0.0 | 0.0 | -7.65 | 0.0 | 0.0 | -7.18 | 0.0 | 0.0 | -1.17 | 0.0 | 0.0 | -0.67 | 0.0 | 0.0 | 0.11 | 0.0 | 0.0 | -0.39 | 0.0 | 0.0 | 53.95 | 0.0 | 0.0 | 100.00 | 0.0 | 0.0 | -0.00 | 0.0 | 0.0 | 27.99 | 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) | -12.38 | 0 | -30.27 | 0 | 7.85 | 10.08 | -27.02 | 0 | -27.38 | 0 | -11.71 | 0 | -9.76 | 0 | 0.36 | 28.57 | -18.31 | 0 | 19.81 | 7.02 | 111.94 | -52.87 | -11.94 | 0 | 0.15 | -43.9 | 45.19 | 3.46 |
| 2022 (9) | -13.70 | 0 | -31.02 | 0 | 7.13 | 28.31 | -13.05 | 0 | -13.92 | 0 | -5.36 | 0 | -3.77 | 0 | 0.28 | -9.68 | -5.09 | 0 | 18.51 | -68.99 | 237.50 | 20.7 | -137.50 | 0 | 0.27 | 15.0 | 43.68 | 17.8 |
| 2021 (8) | -4.66 | 0 | -18.38 | 0 | 5.56 | -5.7 | -9.29 | 0 | -16.16 | 0 | -7.85 | 0 | -4.70 | 0 | 0.31 | 6.9 | -2.40 | 0 | 59.69 | 7.12 | 196.77 | 0 | -98.39 | 0 | 0.24 | 0 | 37.08 | -1.67 |
| 2020 (7) | -3.82 | 0 | -19.43 | 0 | 5.89 | -9.7 | 0.65 | 0 | 1.60 | 0 | 0.72 | 0 | 0.84 | 0 | 0.29 | -23.68 | 8.22 | 0 | 55.72 | 8.01 | -3125.00 | 0 | 3225.00 | 45929.55 | 0.00 | 0 | 37.71 | 12.87 |
| 2019 (6) | 2.51 | 99.21 | -16.43 | 0 | 6.52 | 9.86 | -17.67 | 0 | -16.09 | 0 | -9.41 | 0 | -5.79 | 0 | 0.38 | -17.39 | -9.90 | 0 | 51.59 | -4.8 | 92.99 | -24.09 | 7.01 | 0 | 0.00 | 0 | 33.41 | 20.83 |
| 2018 (5) | 1.26 | -86.27 | -14.13 | 0 | 5.94 | 10.5 | -11.49 | 0 | -9.78 | 0 | -6.22 | 0 | -4.31 | 0 | 0.46 | -11.54 | -5.08 | 0 | 54.19 | 115.55 | 122.50 | 98.23 | -23.33 | 0 | 0.00 | 0 | 27.65 | 10.6 |
| 2017 (4) | 9.18 | -15.63 | -4.82 | 0 | 5.37 | -3.66 | -7.81 | 0 | -6.72 | 0 | -4.41 | 0 | -3.34 | 0 | 0.52 | -1.89 | -2.03 | 0 | 25.14 | -12.59 | 61.80 | -32.32 | 38.20 | 339.33 | 0.00 | 0 | 25.00 | 3.69 |
| 2016 (3) | 10.88 | -20.06 | -1.72 | 0 | 5.58 | 11.81 | -1.85 | 0 | -2.26 | 0 | -1.53 | 0 | -1.07 | 0 | 0.53 | -5.36 | 4.02 | -59.1 | 28.76 | 7.39 | 91.30 | 59.13 | 8.70 | -80.35 | 0.00 | 0 | 24.11 | 9.74 |
| 2015 (2) | 13.61 | -26.31 | 2.54 | -70.6 | 4.99 | -3.82 | 4.49 | -58.69 | 2.27 | -73.29 | 1.66 | -78.91 | 1.39 | -76.52 | 0.56 | -16.42 | 9.83 | -40.32 | 26.78 | -24.71 | 57.38 | -27.78 | 44.26 | 115.33 | 0.00 | 0 | 21.97 | 15.69 |
| 2014 (1) | 18.47 | 0 | 8.64 | 0 | 5.19 | -8.92 | 10.87 | 0 | 8.50 | 0 | 7.87 | 0 | 5.92 | 0 | 0.67 | -6.94 | 16.47 | -26.7 | 35.57 | -13.37 | 79.44 | -2.08 | 20.56 | 8.94 | 0.00 | 0 | 18.99 | 3.49 |
