- 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) | 18.47 | -78.84 | -47.69 | 12.47 | 101.08 | 115.08 | 11.79 | 100.77 | 112.75 | 11.79 | 100.77 | 112.75 | 28.39 | 2018.24 | 3219.78 | 3.69 | 2938.46 | 2735.71 | 0.30 | 0 | 0 | 12.51 | 102.09 | 118.76 | 613.67 | -25.97 | 29.14 | 105.79 | 58.68 | 5.79 | -5.79 | -126.05 | -128.95 | 0.27 | -99.97 | -99.69 |
| 23Q3 (19) | 87.28 | 46.25 | 196.47 | -1149.64 | -3.9 | -6584.15 | -1532.97 | -12.12 | -8569.45 | -1532.97 | -12.12 | -8569.45 | -1.48 | -12.98 | -149.5 | -0.13 | 7.14 | -118.31 | 0.00 | 0 | -100.0 | -600.00 | -20.0 | -3162.79 | 828.90 | 18.74 | 122.29 | 66.67 | -11.11 | -29.41 | 22.22 | 77.78 | 0 | 1053.23 | 4.59 | 19809.83 |
| 23Q2 (18) | 59.68 | -31.72 | 109.62 | -1106.45 | 2.3 | -7902.89 | -1367.20 | 4.46 | -8949.19 | -1367.20 | 4.46 | -8949.19 | -1.31 | 4.38 | -170.43 | -0.14 | 17.65 | -128.0 | 0.00 | 0 | -100.0 | -500.00 | 16.67 | -3017.15 | 698.09 | 18.85 | 125.63 | 75.00 | 0.0 | -17.5 | 12.50 | -50.0 | 37.5 | 1006.99 | -2.65 | 13924.93 |
| 23Q1 (17) | 87.41 | 147.55 | 502.41 | -1132.45 | -1269.51 | -14237.95 | -1431.03 | -1447.39 | -16720.56 | -1431.03 | -1447.39 | -16720.56 | -1.37 | -50.55 | -120.92 | -0.17 | -21.43 | -110.0 | 0.00 | 0 | -100.0 | -600.00 | -799.96 | -6826.46 | 587.37 | 23.61 | 114.2 | 75.00 | -25.0 | -18.38 | 25.00 | 25.0 | 208.33 | 1034.40 | 1092.67 | 82652.0 |
| 22Q4 (16) | 35.31 | 19.94 | 33.14 | -82.69 | -566.38 | -1690.19 | -92.48 | -610.94 | -1186.72 | -92.48 | -610.94 | -1186.72 | -0.91 | -130.43 | -230.0 | -0.14 | -119.72 | -170.0 | 0.00 | -100.0 | -100.0 | -66.67 | -440.33 | -700.09 | 475.18 | 27.43 | 50.77 | 100.00 | 5.88 | 100.0 | 20.00 | 0 | -20.0 | 86.73 | 1539.51 | 546.76 |
| 22Q3 (15) | 29.44 | 3.41 | -9.02 | 17.73 | 25.04 | 2707.35 | 18.10 | 17.15 | 124.01 | 18.10 | 17.15 | 124.01 | 2.99 | 60.75 | 1050.0 | 0.71 | 42.0 | 491.67 | 0.04 | 33.33 | 300.0 | 19.59 | 14.29 | 66.58 | 372.89 | 20.52 | 24.77 | 94.44 | 3.89 | 0 | 0.00 | -100.0 | -100.0 | 5.29 | -26.32 | -77.58 |
| 22Q2 (14) | 28.47 | 96.21 | -51.66 | 14.18 | 77.03 | 101.3 | 15.45 | 79.44 | 101.35 | 15.45 | 79.44 | 101.35 | 1.86 | -71.6 | 255.0 | 0.50 | -70.59 | 192.59 | 0.03 | -84.21 | 0 | 17.14 | 92.15 | 103.43 | 309.40 | 12.83 | 91.66 | 90.91 | -1.07 | -9.09 | 9.09 | 12.12 | 0 | 7.18 | 474.4 | -98.94 |
| 22Q1 (13) | 14.51 | -45.29 | -83.17 | 8.01 | 54.04 | 100.69 | 8.61 | 1.18 | 100.9 | 8.61 | 1.18 | 100.9 | 6.55 | 835.71 | 811.96 | 1.70 | 750.0 | 326.67 | 0.19 | 850.0 | 0 | 8.92 | -19.71 | 101.78 | 274.21 | -12.99 | 1288.41 | 91.89 | 83.78 | -23.42 | 8.11 | -67.57 | 140.54 | 1.25 | -90.68 | -99.87 |
| 21Q4 (12) | 26.52 | -18.05 | -68.69 | 5.20 | 864.71 | 100.47 | 8.51 | 5.32 | 101.01 | 8.51 | 5.32 | 101.01 | 0.70 | 169.23 | 186.42 | 0.20 | 66.67 | 130.3 | 0.02 | 100.0 | 0 | 11.11 | -5.53 | 102.78 | 315.16 | 5.45 | 1068.56 | 50.00 | 0 | -66.67 | 25.00 | -87.5 | 200.0 | 13.41 | -43.15 | -98.72 |
| 21Q3 (11) | 32.36 | -45.05 | -61.88 | -0.68 | 99.94 | 99.92 | 8.08 | 100.71 | 100.99 | 8.08 | 100.71 | 100.99 | 0.26 | 121.67 | 136.62 | 0.12 | 122.22 | 120.0 | 0.01 | 0 | 0 | 11.76 | 102.35 | 0 | 298.86 | 85.13 | 1567.75 | 0.00 | -100.0 | -100.0 | 200.00 | 0 | 0 | 23.59 | -96.52 | -97.11 |
| 21Q2 (10) | 58.89 | -31.69 | 11.81 | -1092.10 | 5.65 | -22.8 | -1142.55 | -19.5 | -45.18 | -1142.55 | -19.5 | -45.18 | -1.20 | -30.43 | -76.47 | -0.54 | 28.0 | 5.26 | 0.00 | 0 | 0 | -500.00 | 0.0 | 0 | 161.43 | 717.37 | 809.46 | 100.00 | -16.67 | 0.0 | -0.00 | 100.0 | 0 | 677.56 | -29.7 | 0 |
| 21Q1 (9) | 86.21 | 1.79 | 1.32 | -1157.48 | -4.89 | -16.35 | -956.12 | -13.26 | -171.32 | -956.12 | -13.26 | -171.32 | -0.92 | -13.58 | -170.59 | -0.75 | -13.64 | -158.62 | 0.00 | 0 | 0 | -500.00 | -25.0 | -150.0 | 19.75 | -26.77 | 7.92 | 120.00 | -20.0 | -52.0 | -20.00 | 20.0 | 86.67 | 963.88 | -8.3 | 21.97 |
| 20Q4 (8) | 84.69 | -0.24 | 27.85 | -1103.49 | -25.03 | -27.09 | -844.19 | -2.92 | -24.5 | -844.19 | -2.92 | -24.5 | -0.81 | -14.08 | -22.73 | -0.66 | -10.0 | -17.86 | 0.00 | 0 | 0 | -400.00 | 0 | -33.33 | 26.97 | 50.5 | 96.15 | 150.00 | 50.0 | 20.0 | -25.00 | 0 | 0.0 | 1051.16 | 28.89 | 40.78 |
| 20Q3 (7) | 84.89 | 61.17 | 724.98 | -882.55 | 0.76 | -11076.99 | -820.21 | -4.22 | -10251.11 | -820.21 | -4.22 | -10251.11 | -0.71 | -4.41 | -101.41 | -0.60 | -5.26 | -104.59 | 0.00 | 0 | -100.0 | 0.00 | 0 | -100.0 | 17.92 | 0.96 | -17.76 | 100.00 | 0.0 | 0.45 | -0.00 | 0 | -100.0 | 815.53 | 0 | 627230.77 |
| 20Q2 (6) | 52.67 | -38.1 | 0 | -889.34 | 10.6 | 0 | -786.99 | -123.33 | 0 | -786.99 | -123.33 | 0 | -0.68 | -100.0 | 53.42 | -0.57 | -96.55 | -137.5 | 0.00 | 0 | 0 | 0.00 | 100.0 | 0 | 17.75 | -3.01 | -97.56 | 100.00 | -60.0 | -16.67 | -0.00 | 100.0 | 100.0 | 0.00 | -100.0 | 0 |
| 20Q1 (5) | 85.09 | 28.46 | 457.24 | -994.84 | -14.58 | -356.37 | -352.39 | 48.03 | -29.65 | -352.39 | 48.03 | -29.65 | -0.34 | 48.48 | 89.03 | -0.29 | 48.21 | 35.56 | 0.00 | 0 | 0 | -200.00 | 33.33 | 0.0 | 18.30 | 33.09 | -96.56 | 250.00 | 100.0 | 243.75 | -150.00 | -500.0 | -925.0 | 790.25 | 5.84 | 543.95 |
| 19Q4 (4) | 66.24 | 543.73 | 0.0 | -868.27 | -10899.38 | 0.0 | -678.04 | -8491.58 | 0.0 | -678.04 | -8491.58 | 0.0 | -0.66 | -101.31 | 0.0 | -0.56 | -104.29 | 0.0 | 0.00 | -100.0 | 0.0 | -300.00 | -3803.7 | 0.0 | 13.75 | -36.9 | 0.0 | 125.00 | 25.57 | 0.0 | -25.00 | -5650.0 | 0.0 | 746.68 | 574269.23 | 0.0 |
| 19Q3 (3) | 10.29 | 0 | 0.0 | 8.04 | 0 | 0.0 | 8.08 | 0 | 0.0 | 8.08 | 0 | 0.0 | 50.25 | 3541.78 | 0.0 | 13.06 | 5541.67 | 0.0 | 1.61 | 0 | 0.0 | 8.10 | 0 | 0.0 | 21.79 | -97.0 | 0.0 | 99.55 | -17.04 | 0.0 | 0.45 | 102.25 | 0.0 | 0.13 | 0 | 0.0 |
| 19Q2 (2) | 0.00 | -100.0 | 0.0 | 0.00 | 100.0 | 0.0 | 0.00 | 100.0 | 0.0 | 0.00 | 100.0 | 0.0 | -1.46 | 52.9 | 0.0 | -0.24 | 46.67 | 0.0 | 0.00 | 0 | 0.0 | 0.00 | 100.0 | 0.0 | 726.86 | 36.5 | 0.0 | 120.00 | 65.0 | 0.0 | -20.00 | -210.0 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q1 (1) | 15.27 | 0.0 | 0.0 | -217.99 | 0.0 | 0.0 | -271.80 | 0.0 | 0.0 | -271.80 | 0.0 | 0.0 | -3.10 | 0.0 | 0.0 | -0.45 | 0.0 | 0.0 | 0.00 | 0.0 | 0.0 | -200.00 | 0.0 | 0.0 | 532.50 | 0.0 | 0.0 | 72.73 | 0.0 | 0.0 | 18.18 | 0.0 | 0.0 | 122.72 | 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) | 18.53 | -1.23 | 11.28 | 19.62 | 0.06 | -62.87 | 10.28 | 3.21 | 10.28 | 3.21 | 24.43 | 132.45 | 4.06 | 82.88 | 0.36 | 71.43 | 11.45 | 7.31 | 613.67 | 29.14 | 109.64 | 15.41 | -9.64 | 0 | 0.00 | 0 | 1.35 | -60.64 |
| 2022 (9) | 18.76 | -35.09 | 9.43 | 0 | 0.17 | -89.5 | 9.96 | 0 | 9.96 | 0 | 10.51 | 0 | 2.22 | 0 | 0.21 | 425.0 | 10.67 | 0 | 475.18 | 50.77 | 95.00 | -43.0 | 5.00 | 0 | 0.00 | 0 | 3.43 | -88.52 |
| 2021 (8) | 28.90 | -62.59 | -15.65 | 0 | 1.59 | -96.83 | -9.69 | 0 | -9.69 | 0 | -1.13 | 0 | -0.26 | 0 | 0.04 | 0 | -3.17 | 0 | 315.16 | 1068.56 | 166.67 | 22.81 | -66.67 | 0 | 0.00 | 0 | 29.87 | -96.55 |
| 2020 (7) | 77.25 | 649.27 | -971.49 | 0 | 50.00 | 137750.0 | -694.89 | 0 | -694.89 | 0 | -2.53 | 0 | -2.10 | 0 | 0.00 | 0 | -650.00 | 0 | 26.97 | 96.15 | 135.71 | 36.39 | -35.71 | 0 | 0.00 | 0 | 866.73 | 146803.39 |
| 2019 (6) | 10.31 | -46.33 | 7.33 | -35.59 | 0.04 | 0 | 7.38 | -38.04 | 7.38 | -38.04 | 45.29 | 41.4 | 16.85 | 118.26 | 2.27 | 266.13 | 7.47 | -41.27 | 13.75 | -96.73 | 99.51 | 4.97 | 0.49 | -88.18 | 0.00 | 0 | 0.59 | -74.79 |
| 2018 (5) | 19.21 | 636.02 | 11.38 | 0 | 0.00 | 0 | 11.91 | 0 | 11.91 | 0 | 32.03 | 0 | 7.72 | 0 | 0.62 | 287.5 | 12.72 | 0 | 421.13 | 92.17 | 94.79 | -7.41 | 4.17 | 0 | 0.00 | 0 | 2.34 | -81.53 |
| 2017 (4) | 2.61 | 21.96 | -51.90 | 0 | 0.00 | 0 | -50.78 | 0 | -50.78 | 0 | -24.43 | 0 | -8.12 | 0 | 0.16 | -68.0 | -50.00 | 0 | 219.14 | 43.04 | 102.38 | -36.01 | -2.38 | 0 | 0.00 | 0 | 12.67 | 74.28 |
| 2016 (3) | 2.14 | 0 | -25.09 | 0 | 0.00 | 0 | -16.20 | 0 | -16.20 | 0 | -14.52 | 0 | -8.12 | 0 | 0.50 | 233.33 | -15.96 | 0 | 153.20 | 938.64 | 160.00 | 146.67 | -53.33 | 0 | 0.00 | 0 | 7.27 | -95.25 |
| 2015 (2) | -11.16 | 0 | -190.76 | 0 | 12.00 | 2.0 | -296.74 | 0 | -394.51 | 0 | -164.03 | 0 | -57.03 | 0 | 0.15 | -6.25 | -280.00 | 0 | 14.75 | -99.45 | 64.86 | -56.02 | 36.49 | 0 | 0.00 | 0 | 153.06 | -17.74 |
| 2014 (1) | -71.49 | 0 | -172.71 | 0 | 11.76 | -51.08 | -117.92 | 0 | -117.92 | 0 | -145.44 | 0 | -15.32 | 0 | 0.16 | -50.0 | -79.41 | 0 | 2667.39 | 659.46 | 147.50 | 38.82 | -47.50 | 0 | 0.00 | 0 | 186.06 | 89.9 |
