- 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) | 8.26 | 694.23 | 2948.28 | -3.70 | 71.69 | 65.87 | -35.09 | -1157.71 | -239.08 | -40.62 | -373.43 | -308.31 | -5.58 | -385.22 | -276.58 | -2.93 | -510.42 | -264.61 | 0.08 | 14.29 | 0.0 | -19.79 | -242.48 | -150.86 | 79.51 | -2.85 | -14.15 | 10.89 | -97.71 | 125.11 | 89.11 | 123.76 | -37.85 | 22.46 | 8.55 | 20.36 |
| 23Q3 (19) | 1.04 | 143.33 | -85.52 | -13.07 | -237.43 | -431.3 | -2.79 | 75.91 | -1.09 | -8.58 | 25.78 | -293.58 | -1.15 | 10.85 | -161.36 | -0.48 | 11.11 | -1100.0 | 0.07 | 16.67 | -30.0 | 13.89 | 78.31 | 23.14 | 81.84 | 3.75 | -20.76 | 475.00 | 678.26 | 422.5 | -375.00 | -305.88 | -4225.0 | 20.69 | -13.9 | 23.08 |
| 23Q2 (18) | -2.40 | 90.22 | -172.73 | 9.51 | 114.89 | 189.89 | -11.58 | -110.08 | -15.11 | -11.56 | -116.46 | -21.05 | -1.29 | -116.06 | 23.67 | -0.54 | -112.24 | 19.4 | 0.06 | 0.0 | -33.33 | 7.79 | -94.17 | 36.67 | 78.88 | -6.51 | -25.32 | -82.14 | -47.75 | -177.7 | 182.14 | 17.06 | 3287.5 | 24.03 | -3.1 | 27.48 |
| 23Q1 (17) | -24.54 | -8362.07 | -441.31 | -63.88 | -489.3 | -1896.25 | 114.89 | 355.37 | 2641.81 | 70.23 | 260.15 | 1513.08 | 8.03 | 154.11 | 945.26 | 4.41 | 147.75 | 1436.36 | 0.06 | -25.0 | -33.33 | 133.73 | 243.69 | 1451.39 | 84.37 | -8.91 | -22.43 | -55.59 | -28.18 | -178.76 | 155.59 | 8.52 | 429.02 | 24.80 | 32.9 | 35.08 |
| 22Q4 (16) | -0.29 | -104.04 | -104.14 | -10.84 | -340.65 | -300.0 | 25.23 | 1014.13 | 1169.07 | 19.50 | 994.5 | 791.49 | 3.16 | 818.18 | 635.59 | 1.78 | 4550.0 | 1212.5 | 0.08 | -20.0 | -20.0 | 38.91 | 244.95 | 282.6 | 92.62 | -10.32 | -13.41 | -43.37 | -147.71 | -139.43 | 143.37 | 1477.11 | 1533.73 | 18.66 | 11.01 | 19.85 |
| 22Q3 (15) | 7.18 | 915.91 | -33.89 | -2.46 | 76.75 | -264.0 | -2.76 | 72.56 | -145.92 | -2.18 | 77.17 | -143.95 | -0.44 | 73.96 | -141.12 | -0.04 | 94.03 | -106.15 | 0.10 | 11.11 | -9.09 | 11.28 | 97.89 | -35.17 | 103.28 | -2.22 | -12.73 | 90.91 | -14.0 | 263.64 | 9.09 | 259.09 | -87.88 | 16.81 | -10.82 | 2.88 |
| 22Q2 (14) | -0.88 | -112.24 | -106.6 | -10.58 | -230.62 | -307.45 | -10.06 | -122.57 | -243.92 | -9.55 | -92.15 | -282.6 | -1.69 | -77.89 | -255.05 | -0.67 | -103.03 | -195.71 | 0.09 | 0.0 | -18.18 | 5.70 | -33.87 | -67.32 | 105.63 | -2.88 | 15.37 | 105.71 | 49.76 | 40.95 | -5.71 | -119.43 | -120.0 | 18.85 | 2.67 | 26.0 |
| 22Q1 (13) | 7.19 | 2.71 | -42.57 | -3.20 | -18.08 | -193.29 | -4.52 | -91.53 | -230.26 | -4.97 | -76.24 | -335.55 | -0.95 | -61.02 | -350.0 | -0.33 | -106.25 | -203.12 | 0.09 | -10.0 | -10.0 | 8.62 | -15.24 | -41.28 | 108.76 | 1.68 | 32.89 | 70.59 | -35.83 | -23.53 | 29.41 | 394.12 | 0 | 18.36 | 17.92 | 17.47 |
| 21Q4 (12) | 7.00 | -35.54 | -31.97 | -2.71 | -280.67 | -350.93 | -2.36 | -139.27 | -148.07 | -2.82 | -156.85 | -141.11 | -0.59 | -155.14 | -144.36 | -0.16 | -124.62 | -118.6 | 0.10 | -9.09 | -9.09 | 10.17 | -41.55 | -29.72 | 106.96 | -9.62 | 45.07 | 110.00 | 340.0 | 422.5 | -10.00 | -113.33 | -112.67 | 15.57 | -4.71 | 25.87 |
| 21Q3 (11) | 10.86 | -18.59 | -42.63 | 1.50 | -70.59 | -81.55 | 6.01 | -14.02 | -68.3 | 4.96 | -5.16 | -61.76 | 1.07 | -1.83 | -47.03 | 0.65 | -7.14 | -49.22 | 0.11 | 0.0 | 22.22 | 17.40 | -0.23 | -41.43 | 118.35 | 29.26 | 60.24 | 25.00 | -66.67 | -41.0 | 75.00 | 162.5 | 30.15 | 16.34 | 9.22 | 2.38 |
| 21Q2 (10) | 13.34 | 6.55 | -5.86 | 5.10 | 48.69 | 212.88 | 6.99 | 101.44 | -25.16 | 5.23 | 147.87 | 0.0 | 1.09 | 186.84 | 34.57 | 0.70 | 118.75 | 22.81 | 0.11 | 10.0 | 22.22 | 17.44 | 18.8 | -15.42 | 91.56 | 11.88 | 29.82 | 75.00 | -18.75 | 305.0 | 28.57 | 0 | -64.94 | 14.96 | -4.29 | 0 |
| 21Q1 (9) | 12.52 | 21.67 | -0.71 | 3.43 | 217.59 | 289.77 | 3.47 | -29.33 | -18.93 | 2.11 | -69.24 | -14.57 | 0.38 | -71.43 | -2.56 | 0.32 | -62.79 | -5.88 | 0.10 | -9.09 | 11.11 | 14.68 | 1.45 | -10.6 | 81.84 | 11.0 | 3.7 | 92.31 | 338.46 | 453.85 | 0.00 | -100.0 | -100.0 | 15.63 | 26.35 | 0 |
| 20Q4 (8) | 10.29 | -45.64 | -31.76 | 1.08 | -86.72 | -80.47 | 4.91 | -74.1 | -55.65 | 6.86 | -47.11 | -21.24 | 1.33 | -34.16 | -17.39 | 0.86 | -32.81 | -16.5 | 0.11 | 22.22 | 10.0 | 14.47 | -51.3 | -30.9 | 73.73 | -0.18 | -1.69 | 21.05 | -50.32 | -59.06 | 78.95 | 37.0 | 53.51 | 12.37 | -22.49 | -15.79 |
| 20Q3 (7) | 18.93 | 33.59 | 17.07 | 8.13 | 398.77 | 33.06 | 18.96 | 103.0 | 9.41 | 12.97 | 147.99 | -7.56 | 2.02 | 149.38 | -27.34 | 1.28 | 124.56 | -23.35 | 0.09 | 0.0 | -18.18 | 29.71 | 44.08 | 11.23 | 73.86 | 4.72 | -4.89 | 42.37 | 128.81 | 17.03 | 57.63 | -29.28 | -12.04 | 15.96 | 0 | 7.11 |
| 20Q2 (6) | 14.17 | 12.37 | 12.28 | 1.63 | 85.23 | -53.82 | 9.34 | 118.22 | 1887.23 | 5.23 | 111.74 | 1012.77 | 0.81 | 107.69 | 800.0 | 0.57 | 67.65 | 235.29 | 0.09 | 0.0 | -10.0 | 20.62 | 25.58 | 119.83 | 70.53 | -10.63 | -13.67 | 18.52 | 11.11 | -96.63 | 81.48 | 8.64 | 116.3 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 12.61 | -16.38 | 22.9 | 0.88 | -84.09 | 300.0 | 4.28 | -61.34 | 2957.14 | 2.47 | -71.64 | 429.33 | 0.39 | -75.78 | 425.0 | 0.34 | -66.99 | 750.0 | 0.09 | -10.0 | 0.0 | 16.42 | -21.59 | 57.43 | 78.92 | 5.23 | -1.14 | 16.67 | -67.59 | 0 | 75.00 | 45.83 | 0 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 15.08 | -6.74 | 0.0 | 5.53 | -9.49 | 0.0 | 11.07 | -36.12 | 0.0 | 8.71 | -37.92 | 0.0 | 1.61 | -42.09 | 0.0 | 1.03 | -38.32 | 0.0 | 0.10 | -9.09 | 0.0 | 20.94 | -21.6 | 0.0 | 75.00 | -3.43 | 0.0 | 51.43 | 42.04 | 0.0 | 51.43 | -21.5 | 0.0 | 14.69 | -1.41 | 0.0 |
| 19Q3 (3) | 16.17 | 28.13 | 0.0 | 6.11 | 73.09 | 0.0 | 17.33 | 3587.23 | 0.0 | 14.03 | 2885.11 | 0.0 | 2.78 | 2988.89 | 0.0 | 1.67 | 882.35 | 0.0 | 0.11 | 10.0 | 0.0 | 26.71 | 184.75 | 0.0 | 77.66 | -4.94 | 0.0 | 36.21 | -93.42 | 0.0 | 65.52 | 113.1 | 0.0 | 14.90 | 4.86 | 0.0 |
| 19Q2 (2) | 12.62 | 23.0 | 0.0 | 3.53 | 902.27 | 0.0 | 0.47 | 235.71 | 0.0 | 0.47 | 162.67 | 0.0 | 0.09 | 175.0 | 0.0 | 0.17 | 325.0 | 0.0 | 0.10 | 11.11 | 0.0 | 9.38 | -10.07 | 0.0 | 81.70 | 2.34 | 0.0 | 550.00 | 0 | 0.0 | -500.00 | 0 | 0.0 | 14.21 | -13.35 | 0.0 |
| 19Q1 (1) | 10.26 | 0.0 | 0.0 | -0.44 | 0.0 | 0.0 | 0.14 | 0.0 | 0.0 | -0.75 | 0.0 | 0.0 | -0.12 | 0.0 | 0.0 | 0.04 | 0.0 | 0.0 | 0.09 | 0.0 | 0.0 | 10.43 | 0.0 | 0.0 | 79.83 | 0.0 | 0.0 | 0.00 | 0.0 | 0.0 | 0.00 | 0.0 | 0.0 | 16.40 | 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) | -3.76 | 0 | -17.23 | 0 | 13.86 | 19.23 | 13.91 | 930.37 | 0.46 | 109.09 | 0.24 | 60.0 | 0.77 | 11.59 | 0.28 | -20.0 | 31.27 | 102.13 | 79.51 | -14.15 | -123.49 | 0 | 223.49 | -60.79 | 0.68 | -3.62 | 22.89 | 26.25 |
| 2022 (9) | 3.55 | -67.4 | -6.51 | 0 | 11.62 | 20.74 | 1.35 | -61.86 | 0.22 | -90.79 | 0.15 | -91.98 | 0.69 | -52.41 | 0.35 | -14.63 | 15.47 | 3.97 | 92.62 | -13.41 | -475.00 | 0 | 570.00 | 1040.0 | 0.71 | -7.91 | 18.13 | 15.99 |
| 2021 (8) | 10.89 | -21.2 | 1.79 | -38.49 | 9.63 | 8.64 | 3.54 | -61.81 | 2.39 | -66.05 | 1.87 | -60.3 | 1.45 | -53.82 | 0.41 | 7.89 | 14.88 | -25.67 | 106.96 | 45.07 | 50.00 | 58.11 | 50.00 | -26.88 | 0.77 | -24.19 | 15.63 | 4.34 |
| 2020 (7) | 13.82 | 1.02 | 2.91 | -24.42 | 8.86 | 13.47 | 9.27 | 21.49 | 7.04 | 18.52 | 4.71 | 7.05 | 3.14 | 6.44 | 0.38 | -9.52 | 20.02 | 15.79 | 73.73 | -1.69 | 31.62 | -36.75 | 68.38 | 39.66 | 1.01 | -20.65 | 14.98 | -0.13 |
| 2019 (6) | 13.68 | 1.94 | 3.85 | 45.83 | 7.81 | 35.76 | 7.63 | 63.38 | 5.94 | 77.84 | 4.40 | 85.65 | 2.95 | 59.46 | 0.42 | 2.44 | 17.29 | 38.43 | 75.00 | -7.99 | 50.00 | -10.94 | 48.96 | 11.63 | 1.28 | -9.15 | 15.00 | 1.49 |
| 2018 (5) | 13.42 | -9.02 | 2.64 | 36.08 | 5.75 | -7.07 | 4.67 | -15.55 | 3.34 | -11.87 | 2.37 | 6.76 | 1.85 | 1.09 | 0.41 | 13.89 | 12.49 | -10.91 | 81.51 | 25.34 | 56.14 | 60.0 | 43.86 | -32.43 | 1.41 | 0 | 14.78 | -10.37 |
| 2017 (4) | 14.75 | -16.38 | 1.94 | -53.14 | 6.19 | -21.86 | 5.53 | -24.04 | 3.79 | -30.2 | 2.22 | -10.48 | 1.83 | -10.73 | 0.36 | 24.14 | 14.02 | -21.89 | 65.03 | 2.25 | 35.09 | -37.27 | 64.91 | 53.19 | 0.00 | 0 | 16.49 | -11.53 |
| 2016 (3) | 17.64 | 50.51 | 4.14 | 350.0 | 7.92 | -41.8 | 7.28 | 911.11 | 5.43 | 1328.95 | 2.48 | 1277.78 | 2.05 | 215.38 | 0.29 | -3.33 | 17.95 | 3.04 | 63.60 | 22.26 | 55.93 | -58.05 | 42.37 | 0 | 0.00 | 0 | 18.64 | 13.11 |
| 2015 (2) | 11.72 | 30.22 | 0.92 | -44.58 | 13.61 | 20.44 | 0.72 | -70.73 | 0.38 | -79.46 | 0.18 | -86.67 | 0.65 | -53.24 | 0.30 | -31.82 | 17.42 | 6.15 | 52.02 | -18.62 | 133.33 | 103.17 | -33.33 | 0 | 0.00 | 0 | 16.48 | 34.86 |
| 2014 (1) | 9.00 | 0 | 1.66 | 0 | 11.30 | -2.35 | 2.46 | 0 | 1.85 | 0 | 1.35 | 0 | 1.39 | 0 | 0.44 | -8.33 | 16.41 | 5.39 | 63.92 | -6.58 | 65.62 | -25.0 | 31.25 | 400.0 | 0.00 | 0 | 12.22 | -10.41 |
