- 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) | 2.92 | -62.8 | -81.94 | -13.31 | -132.69 | -323.32 | -15.24 | -158.31 | -519.83 | -14.99 | -81.04 | -3506.82 | -5.80 | -66.67 | -2621.74 | -2.21 | -71.32 | -889.29 | 0.16 | -11.11 | -27.27 | -5.36 | -288.73 | -153.98 | 149.56 | 10.5 | 8.28 | 86.05 | -9.17 | -47.05 | 11.63 | 120.93 | 118.6 | 29.80 | 11.78 | 38.8 |
| 23Q3 (19) | 7.85 | -30.16 | -25.02 | -5.72 | -259.75 | -921.43 | -5.90 | -102.75 | -1172.73 | -8.28 | -73.95 | -7627.27 | -3.48 | -63.38 | -7060.0 | -1.29 | -79.17 | -960.0 | 0.18 | -5.26 | 0.0 | 2.84 | -50.0 | -65.62 | 135.35 | -3.73 | 1.09 | 94.74 | 57.89 | 194.74 | 5.26 | -89.47 | -97.37 | 26.66 | 12.49 | 9.49 |
| 23Q2 (18) | 11.24 | -24.41 | -34.5 | -1.59 | -214.39 | -116.74 | -2.91 | -332.8 | -125.48 | -4.76 | -242.45 | -176.53 | -2.13 | -280.36 | -163.77 | -0.72 | -700.0 | -146.45 | 0.19 | 11.76 | -17.39 | 5.68 | -41.26 | -67.22 | 140.59 | 10.59 | 2.54 | 60.00 | -52.0 | -28.84 | 50.00 | 0 | 183.33 | 23.70 | -8.32 | 15.38 |
| 23Q1 (17) | 14.87 | -8.04 | -4.56 | 1.39 | -76.68 | -79.13 | 1.25 | -65.56 | -81.37 | -1.39 | -415.91 | -128.02 | -0.56 | -343.48 | -124.24 | -0.09 | -132.14 | -108.26 | 0.17 | -22.73 | -15.0 | 9.67 | -2.62 | -32.14 | 127.13 | -7.96 | 0.45 | 125.00 | -23.08 | 25.0 | 0.00 | 100.0 | 0 | 25.85 | 20.4 | 12.88 |
| 22Q4 (16) | 16.17 | 54.44 | 2.34 | 5.96 | 1164.29 | -18.8 | 3.63 | 560.0 | -50.75 | 0.44 | 300.0 | -90.18 | 0.23 | 360.0 | -90.17 | 0.28 | 86.67 | -75.22 | 0.22 | 22.22 | -8.33 | 9.93 | 20.22 | -28.97 | 138.12 | 3.16 | 7.05 | 162.50 | 262.5 | 67.92 | -62.50 | -131.25 | 0 | 21.47 | -11.83 | -6.12 |
| 22Q3 (15) | 10.47 | -38.99 | -46.5 | -0.56 | -105.89 | -105.26 | 0.55 | -95.18 | -95.13 | 0.11 | -98.23 | -98.55 | 0.05 | -98.5 | -98.81 | 0.15 | -90.32 | -92.68 | 0.18 | -21.74 | -30.77 | 8.26 | -52.34 | -54.52 | 133.89 | -2.35 | 18.29 | -100.00 | -218.6 | -206.67 | 200.00 | 1033.33 | 3100.0 | 24.35 | 18.55 | 27.96 |
| 22Q2 (14) | 17.16 | 10.14 | 24.71 | 9.50 | 42.64 | 109.71 | 11.42 | 70.19 | 216.34 | 6.22 | 25.4 | 360.74 | 3.34 | 44.59 | 421.87 | 1.55 | 42.2 | 297.44 | 0.23 | 15.0 | 0.0 | 17.33 | 21.61 | 28.56 | 137.11 | 8.34 | 23.5 | 84.31 | -15.69 | -31.5 | 17.65 | 0 | 176.47 | 20.54 | -10.31 | 0.69 |
| 22Q1 (13) | 15.58 | -1.39 | 43.2 | 6.66 | -9.26 | 808.51 | 6.71 | -8.96 | 4373.33 | 4.96 | 10.71 | 1072.55 | 2.31 | -1.28 | 1315.79 | 1.09 | -3.54 | 5550.0 | 0.20 | -16.67 | 11.11 | 14.25 | 1.93 | 18.75 | 126.56 | -1.91 | 23.79 | 100.00 | 3.33 | 0 | 0.00 | 0 | 0 | 22.90 | 0.13 | 13.65 |
| 21Q4 (12) | 15.80 | -19.26 | 73.06 | 7.34 | -31.08 | 238.49 | 7.37 | -34.72 | 210.16 | 4.48 | -41.05 | 177.91 | 2.34 | -44.15 | 213.04 | 1.13 | -44.88 | 218.95 | 0.24 | -7.69 | 33.33 | 13.98 | -23.02 | 168.85 | 129.02 | 13.99 | 28.34 | 96.77 | 3.23 | 24.42 | 0.00 | -100.0 | -100.0 | 22.87 | 20.18 | -2.26 |
| 21Q3 (11) | 19.57 | 42.22 | 108.19 | 10.65 | 135.1 | 328.05 | 11.29 | 212.74 | 299.47 | 7.60 | 462.96 | 226.04 | 4.19 | 554.69 | 279.06 | 2.05 | 425.64 | 291.59 | 0.26 | 13.04 | 36.84 | 18.16 | 34.72 | 161.67 | 113.19 | 1.95 | 7.63 | 93.75 | -23.83 | 15.38 | 6.25 | 127.08 | -66.67 | 19.03 | -6.72 | -25.2 |
| 21Q2 (10) | 13.76 | 26.47 | 27.05 | 4.53 | 581.91 | 855.0 | 3.61 | 2306.67 | 484.04 | 1.35 | 364.71 | 154.66 | 0.64 | 436.84 | 168.09 | 0.39 | 2050.0 | 200.0 | 0.23 | 27.78 | 21.05 | 13.48 | 12.33 | 38.11 | 111.02 | 8.59 | 8.93 | 123.08 | 0 | 84.62 | -23.08 | 0 | -169.23 | 20.40 | 1.24 | 0 |
| 21Q1 (9) | 10.88 | 19.17 | 777.42 | -0.94 | 82.26 | 94.88 | 0.15 | 102.24 | 104.64 | -0.51 | 91.13 | 79.18 | -0.19 | 90.82 | 73.97 | -0.02 | 97.89 | 89.47 | 0.18 | 0.0 | 50.0 | 12.00 | 130.77 | -18.64 | 102.24 | 1.7 | 6.27 | 0.00 | -100.0 | -100.0 | 0.00 | -100.0 | 100.0 | 20.15 | -13.89 | -28.57 |
| 20Q4 (8) | 9.13 | -2.87 | 137.34 | -5.30 | -13.49 | 86.15 | -6.69 | -18.2 | 84.03 | -5.75 | 4.64 | 85.26 | -2.07 | 11.54 | 90.0 | -0.95 | 11.21 | 85.43 | 0.18 | -5.26 | 5.88 | 5.20 | -25.07 | 117.77 | 100.53 | -4.41 | -56.37 | 77.78 | -4.27 | -14.67 | 22.22 | 18.52 | 151.11 | 23.40 | -8.02 | -0.64 |
| 20Q3 (7) | 9.40 | -13.2 | 358.54 | -4.67 | -678.33 | 60.42 | -5.66 | -502.13 | 59.1 | -6.03 | -144.13 | 54.11 | -2.34 | -148.94 | 59.09 | -1.07 | -174.36 | 41.85 | 0.19 | 0.0 | 18.75 | 6.94 | -28.89 | 1879.49 | 105.17 | 3.19 | -45.37 | 81.25 | 21.88 | -2.5 | 18.75 | -43.75 | 35.0 | 25.44 | 0 | 2.37 |
| 20Q2 (6) | 10.83 | 773.39 | 197.53 | -0.60 | 96.73 | 95.42 | -0.94 | 70.9 | 92.73 | -2.47 | -0.82 | 80.93 | -0.94 | -28.77 | 81.09 | -0.39 | -105.26 | 76.92 | 0.19 | 58.33 | 26.67 | 9.76 | -33.83 | 1104.94 | 101.92 | 5.93 | -38.42 | 66.67 | -88.24 | -33.33 | 33.33 | 107.14 | 0 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 1.24 | 105.07 | 143.14 | -18.36 | 52.01 | 9.33 | -3.23 | 92.29 | 84.61 | -2.45 | 93.72 | 87.79 | -0.73 | 96.47 | 87.81 | -0.19 | 97.09 | 91.0 | 0.12 | -29.41 | 9.09 | 14.75 | 150.41 | 523.85 | 96.21 | -58.24 | -39.54 | 566.67 | 521.68 | 480.49 | -466.67 | -5373.33 | -19700.0 | 28.21 | 19.79 | -13.68 |
| 19Q4 (4) | -24.45 | -1292.68 | 0.0 | -38.26 | -224.24 | 0.0 | -41.89 | -202.67 | 0.0 | -39.02 | -196.96 | 0.0 | -20.70 | -261.89 | 0.0 | -6.52 | -254.35 | 0.0 | 0.17 | 6.25 | 0.0 | -29.26 | -7402.56 | 0.0 | 230.40 | 19.68 | 0.0 | 91.15 | 9.38 | 0.0 | 8.85 | -36.28 | 0.0 | 23.55 | -5.23 | 0.0 |
| 19Q3 (3) | 2.05 | -43.68 | 0.0 | -11.80 | 9.99 | 0.0 | -13.84 | -7.04 | 0.0 | -13.14 | -1.47 | 0.0 | -5.72 | -15.09 | 0.0 | -1.84 | -8.88 | 0.0 | 0.16 | 6.67 | 0.0 | -0.39 | -148.15 | 0.0 | 192.52 | 16.31 | 0.0 | 83.33 | -16.67 | 0.0 | 13.89 | 0 | 0.0 | 24.85 | -3.53 | 0.0 |
| 19Q2 (2) | 3.64 | 613.73 | 0.0 | -13.11 | 35.26 | 0.0 | -12.93 | 38.4 | 0.0 | -12.95 | 35.44 | 0.0 | -4.97 | 17.03 | 0.0 | -1.69 | 19.91 | 0.0 | 0.15 | 36.36 | 0.0 | 0.81 | 123.28 | 0.0 | 165.52 | 4.01 | 0.0 | 100.00 | 2.44 | 0.0 | -0.00 | -100.0 | 0.0 | 25.76 | -21.18 | 0.0 |
| 19Q1 (1) | 0.51 | 0.0 | 0.0 | -20.25 | 0.0 | 0.0 | -20.99 | 0.0 | 0.0 | -20.06 | 0.0 | 0.0 | -5.99 | 0.0 | 0.0 | -2.11 | 0.0 | 0.0 | 0.11 | 0.0 | 0.0 | -3.48 | 0.0 | 0.0 | 159.14 | 0.0 | 0.0 | 97.62 | 0.0 | 0.0 | 2.38 | 0.0 | 0.0 | 32.68 | 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) | 9.52 | -36.83 | -4.41 | 0 | 7.50 | 26.56 | -5.28 | 0 | -7.00 | 0 | -11.82 | 0 | -4.16 | 0 | 0.69 | -18.82 | 3.59 | -71.49 | 149.56 | 8.28 | 82.35 | -14.96 | 16.18 | 412.25 | 0.12 | -24.84 | 26.32 | 18.67 |
| 2022 (9) | 15.07 | -2.59 | 5.70 | -6.1 | 5.93 | -24.3 | 5.86 | -6.09 | 3.05 | -17.34 | 6.08 | -12.77 | 3.10 | -11.93 | 0.85 | -3.41 | 12.59 | -14.35 | 138.12 | 7.05 | 96.84 | 0.11 | 3.16 | -3.16 | 0.15 | -29.49 | 22.18 | 7.41 |
| 2021 (8) | 15.47 | 86.84 | 6.07 | 0 | 7.83 | -35.23 | 6.24 | 0 | 3.69 | 0 | 6.97 | 0 | 3.52 | 0 | 0.88 | 29.41 | 14.70 | 67.62 | 129.02 | 28.34 | 96.74 | -33.97 | 3.26 | 0 | 0.22 | -45.33 | 20.65 | -21.63 |
| 2020 (7) | 8.28 | 0 | -6.14 | 0 | 12.09 | -0.14 | -4.18 | 0 | -4.32 | 0 | -7.34 | 0 | -2.60 | 0 | 0.68 | 15.25 | 8.77 | 0 | 100.53 | -56.37 | 146.51 | 57.84 | -46.51 | 0 | 0.40 | 50.1 | 26.35 | 0.08 |
| 2019 (6) | -5.22 | 0 | -21.22 | 0 | 12.10 | 28.6 | -22.87 | 0 | -21.70 | 0 | -36.99 | 0 | -12.02 | 0 | 0.59 | -18.06 | -8.72 | 0 | 230.40 | 42.97 | 92.83 | -27.07 | 7.17 | 0 | 0.27 | 375.28 | 26.33 | 13.2 |
| 2018 (5) | 13.14 | -20.8 | -1.05 | 0 | 9.41 | -12.64 | -0.87 | 0 | -3.21 | 0 | -5.90 | 0 | -1.62 | 0 | 0.72 | 0.0 | 10.10 | -30.44 | 161.15 | 10.17 | 127.27 | -6.87 | -18.18 | 0 | 0.06 | 0 | 23.26 | 14.98 |
| 2017 (4) | 16.59 | 76.3 | 3.22 | 0 | 10.77 | -29.29 | 2.36 | 0 | -0.50 | 0 | -0.87 | 0 | 0.31 | 0 | 0.72 | 26.32 | 14.52 | 31.52 | 146.28 | 10.81 | 136.67 | 41.3 | -36.67 | 0 | 0.00 | 0 | 20.23 | -11.08 |
| 2016 (3) | 9.41 | 128.95 | -5.72 | 0 | 15.23 | -14.04 | -5.94 | 0 | -9.71 | 0 | -11.76 | 0 | -4.90 | 0 | 0.57 | 26.67 | 11.04 | 32.53 | 132.01 | 34.16 | 96.72 | -9.92 | 3.28 | 0 | 0.00 | 0 | 22.75 | -12.57 |
| 2015 (2) | 4.11 | -78.81 | -11.98 | 0 | 17.72 | 41.51 | -11.19 | 0 | -10.83 | 0 | -8.98 | 0 | -4.41 | 0 | 0.45 | -19.64 | 8.33 | -57.91 | 98.40 | 34.96 | 107.37 | 7.37 | -7.37 | 0 | 0.00 | 0 | 26.02 | 17.26 |
| 2014 (1) | 19.40 | 0 | 6.10 | 0 | 12.52 | -2.31 | 6.08 | 0 | 3.85 | 0 | 3.72 | 0 | 2.58 | 0 | 0.56 | 0.0 | 19.79 | 16.96 | 72.91 | -1.53 | 100.00 | 3.7 | 0.00 | 0 | 0.00 | 0 | 22.19 | 8.35 |
