- 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) | 4.32 | -23.81 | -49.65 | -14.05 | -25.11 | -103.33 | -18.80 | -2475.34 | -36.33 | -12.51 | -1546.05 | -9.45 | -1.37 | -1422.22 | -5.38 | -0.88 | -1860.0 | -12.82 | 0.08 | -11.11 | 0.0 | -0.77 | -104.94 | -126.64 | 38.16 | 0.16 | -12.05 | 75.34 | -95.29 | 48.09 | 26.03 | 101.74 | -48.84 | 39.72 | -1.88 | -3.62 |
| 23Q3 (19) | 5.67 | -31.77 | 17.88 | -11.23 | -121.5 | -72.24 | -0.73 | 89.26 | -116.63 | -0.76 | 90.18 | -110.64 | -0.09 | 91.35 | -108.57 | 0.05 | 107.94 | -93.9 | 0.09 | -10.0 | -10.0 | 15.58 | 103.39 | -12.42 | 38.10 | -6.25 | -18.69 | 1600.00 | 2100.0 | 1151.43 | -1500.00 | -6287.5 | -694.83 | 40.48 | -0.3 | -3.76 |
| 23Q2 (18) | 8.31 | -34.62 | -23.41 | -5.07 | -1038.89 | -158.67 | -6.80 | -475.69 | -864.04 | -7.74 | -645.07 | -198.84 | -1.04 | -620.0 | -188.89 | -0.63 | -342.31 | -250.0 | 0.10 | 0.0 | 0.0 | 7.66 | -49.57 | -47.1 | 40.64 | -3.1 | -3.47 | 72.73 | 118.18 | 129.09 | 24.24 | -68.83 | -93.07 | 40.60 | 3.57 | 27.67 |
| 23Q1 (17) | 12.71 | 48.14 | -41.43 | 0.54 | 107.81 | -95.45 | 1.81 | 113.13 | -90.85 | 1.42 | 112.42 | -91.5 | 0.20 | 115.38 | -93.31 | 0.26 | 133.33 | -88.18 | 0.10 | 25.0 | -23.08 | 15.19 | 425.61 | -49.79 | 41.94 | -3.34 | 4.48 | 33.33 | -34.48 | -44.74 | 77.78 | 52.87 | 92.16 | 39.20 | -4.88 | 11.97 |
| 22Q4 (16) | 8.58 | 78.38 | -58.15 | -6.91 | -5.98 | -172.28 | -13.79 | -414.12 | -251.37 | -11.43 | -260.08 | -279.43 | -1.30 | -223.81 | -212.07 | -0.78 | -195.12 | -186.67 | 0.08 | -20.0 | -38.46 | 2.89 | -83.75 | -85.15 | 43.39 | -7.41 | 8.75 | 50.88 | 133.43 | -50.82 | 50.88 | -79.82 | 1083.63 | 41.21 | -2.02 | 3.54 |
| 22Q3 (15) | 4.81 | -55.67 | -74.66 | -6.52 | -232.65 | -160.93 | 4.39 | 393.26 | -43.21 | 7.14 | 375.68 | 68.4 | 1.05 | 391.67 | 43.84 | 0.82 | 555.56 | 38.98 | 0.10 | 0.0 | -16.67 | 17.79 | 22.86 | -4.05 | 46.86 | 11.31 | 15.16 | -152.17 | 39.13 | -208.7 | 252.17 | -27.95 | 767.52 | 42.06 | 32.26 | 104.97 |
| 22Q2 (14) | 10.85 | -50.0 | -54.56 | -1.96 | -116.53 | -115.74 | 0.89 | -95.5 | -94.32 | -2.59 | -115.5 | -118.45 | -0.36 | -112.04 | -112.0 | -0.18 | -108.18 | -107.96 | 0.10 | -23.08 | -33.33 | 14.48 | -52.13 | -41.02 | 42.10 | 4.88 | 3.69 | -250.00 | -514.47 | -413.89 | 350.00 | 764.71 | 1619.57 | 31.80 | -9.17 | -4.93 |
| 22Q1 (13) | 21.70 | 5.85 | -18.76 | 11.86 | 24.06 | -20.3 | 19.78 | 117.12 | 45.66 | 16.71 | 162.32 | 60.67 | 2.99 | 157.76 | 53.33 | 2.20 | 144.44 | 46.67 | 0.13 | 0.0 | -7.14 | 30.25 | 55.45 | 27.15 | 40.14 | 0.6 | 11.5 | 60.32 | -41.69 | -44.93 | 40.48 | 882.54 | 525.0 | 35.01 | -12.04 | 6.38 |
| 21Q4 (12) | 20.50 | 8.01 | -18.78 | 9.56 | -10.65 | -35.97 | 9.11 | 17.85 | -37.69 | 6.37 | 50.24 | 22.74 | 1.16 | 58.9 | 1.75 | 0.90 | 52.54 | 0.0 | 0.13 | 8.33 | -18.75 | 19.46 | 4.96 | -22.28 | 39.90 | -1.94 | 1.86 | 103.45 | -26.11 | 1.48 | -5.17 | 86.31 | -166.38 | 39.80 | 93.96 | 20.24 |
| 21Q3 (11) | 18.98 | -20.52 | -34.44 | 10.70 | -14.06 | -39.45 | 7.73 | -50.64 | -56.62 | 4.24 | -69.8 | -74.58 | 0.73 | -75.67 | -81.8 | 0.59 | -73.89 | -80.4 | 0.12 | -20.0 | -33.33 | 18.54 | -24.48 | -20.16 | 40.69 | 0.22 | 15.07 | 140.00 | 75.78 | 41.06 | -37.78 | -285.6 | -5124.44 | 20.52 | -38.65 | -39.95 |
| 21Q2 (10) | 23.88 | -10.6 | -17.85 | 12.45 | -16.33 | -34.3 | 15.66 | 15.32 | -6.9 | 14.04 | 35.0 | 1.52 | 3.00 | 53.85 | -16.67 | 2.26 | 50.67 | -17.22 | 0.15 | 7.14 | -21.05 | 24.55 | 3.19 | 7.91 | 40.60 | 12.78 | 12.9 | 79.65 | -27.28 | -29.02 | 20.35 | 313.72 | 256.85 | 33.45 | 1.64 | 0 |
| 21Q1 (9) | 26.71 | 5.82 | 63.76 | 14.88 | -0.33 | 835.85 | 13.58 | -7.11 | 540.57 | 10.40 | 100.39 | 395.24 | 1.95 | 71.05 | 509.38 | 1.50 | 66.67 | 341.18 | 0.14 | -12.5 | 16.67 | 23.79 | -4.99 | 85.86 | 36.00 | -8.09 | 7.11 | 109.52 | 7.44 | 56.46 | -9.52 | -390.48 | -147.62 | 32.91 | -0.57 | 0 |
| 20Q4 (8) | 25.24 | -12.82 | 21.7 | 14.93 | -15.51 | 65.7 | 14.62 | -17.96 | 171.24 | 5.19 | -68.88 | 32.4 | 1.14 | -71.57 | 22.58 | 0.90 | -70.1 | 13.92 | 0.16 | -11.11 | -15.79 | 25.04 | 7.84 | 152.67 | 39.17 | 10.77 | 27.63 | 101.94 | 2.71 | -40.13 | -1.94 | -358.25 | 97.13 | 33.10 | -3.13 | -9.02 |
| 20Q3 (7) | 28.95 | -0.41 | 19.43 | 17.67 | -6.75 | 49.49 | 17.82 | 5.95 | 41.65 | 16.68 | 20.61 | 47.09 | 4.01 | 11.39 | 71.37 | 3.01 | 10.26 | 46.12 | 0.18 | -5.26 | 0.0 | 23.22 | 2.07 | 28.0 | 35.36 | -1.67 | 77.87 | 99.25 | -11.55 | 6.24 | 0.75 | 105.79 | -88.57 | 34.17 | 0 | -0.03 |
| 20Q2 (6) | 29.07 | 78.23 | 8.11 | 18.95 | 1091.82 | 49.92 | 16.82 | 693.4 | 13.96 | 13.83 | 558.57 | 8.73 | 3.60 | 1025.0 | 55.17 | 2.73 | 702.94 | 31.88 | 0.19 | 58.33 | 18.75 | 22.75 | 77.73 | 11.19 | 35.96 | 6.99 | 168.56 | 112.21 | 60.31 | 30.92 | -12.98 | -164.89 | -190.84 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 16.31 | -21.36 | -45.25 | 1.59 | -82.35 | -87.71 | 2.12 | -60.67 | -88.02 | 2.10 | -46.43 | -85.9 | 0.32 | -65.59 | -85.9 | 0.34 | -56.96 | -83.41 | 0.12 | -36.84 | -14.29 | 12.80 | 29.16 | -47.06 | 33.61 | 9.51 | 181.96 | 70.00 | -58.89 | -4.55 | 20.00 | 129.6 | -25.0 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 20.74 | -14.44 | 0.0 | 9.01 | -23.77 | 0.0 | 5.39 | -57.15 | 0.0 | 3.92 | -65.43 | 0.0 | 0.93 | -60.26 | 0.0 | 0.79 | -61.65 | 0.0 | 0.19 | 5.56 | 0.0 | 9.91 | -45.37 | 0.0 | 30.69 | 54.38 | 0.0 | 170.27 | 82.26 | 0.0 | -67.57 | -1127.03 | 0.0 | 36.38 | 6.44 | 0.0 |
| 19Q3 (3) | 24.24 | -9.85 | 0.0 | 11.82 | -6.49 | 0.0 | 12.58 | -14.77 | 0.0 | 11.34 | -10.85 | 0.0 | 2.34 | 0.86 | 0.0 | 2.06 | -0.48 | 0.0 | 0.18 | 12.5 | 0.0 | 18.14 | -11.34 | 0.0 | 19.88 | 48.47 | 0.0 | 93.42 | 8.99 | 0.0 | 6.58 | -53.95 | 0.0 | 34.18 | 10.72 | 0.0 |
| 19Q2 (2) | 26.89 | -9.73 | 0.0 | 12.64 | -2.32 | 0.0 | 14.76 | -16.61 | 0.0 | 12.72 | -14.57 | 0.0 | 2.32 | 2.2 | 0.0 | 2.07 | 0.98 | 0.0 | 0.16 | 14.29 | 0.0 | 20.46 | -15.38 | 0.0 | 13.39 | 12.33 | 0.0 | 85.71 | 16.88 | 0.0 | 14.29 | -46.43 | 0.0 | 30.87 | -20.15 | 0.0 |
| 19Q1 (1) | 29.79 | 0.0 | 0.0 | 12.94 | 0.0 | 0.0 | 17.70 | 0.0 | 0.0 | 14.89 | 0.0 | 0.0 | 2.27 | 0.0 | 0.0 | 2.05 | 0.0 | 0.0 | 0.14 | 0.0 | 0.0 | 24.18 | 0.0 | 0.0 | 11.92 | 0.0 | 0.0 | 73.33 | 0.0 | 0.0 | 26.67 | 0.0 | 0.0 | 38.66 | 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) | 8.09 | -33.53 | -6.84 | 0 | 13.78 | 13.46 | -5.48 | 0 | -4.50 | 0 | -2.31 | 0 | -1.19 | 0 | 0.36 | -14.29 | 9.88 | -44.59 | 38.16 | -12.05 | 125.00 | 5962.5 | -25.00 | 0 | 0.04 | 6.84 | 39.98 | 7.27 |
| 2022 (9) | 12.17 | -46.15 | 0.11 | -99.08 | 12.14 | 32.83 | 4.63 | -60.49 | 4.03 | -55.32 | 2.38 | -65.26 | 2.04 | -60.92 | 0.42 | -22.22 | 17.83 | -17.91 | 43.39 | 8.75 | 2.06 | -97.97 | 97.94 | 0 | 0.04 | -37.02 | 37.27 | 16.76 |
| 2021 (8) | 22.60 | -12.64 | 11.92 | -18.36 | 9.14 | 29.52 | 11.72 | -16.46 | 9.02 | -13.02 | 6.85 | -23.55 | 5.22 | -24.35 | 0.54 | -15.62 | 21.72 | -0.41 | 39.90 | 1.86 | 101.67 | -2.23 | -1.67 | 0 | 0.06 | -7.47 | 31.92 | -4.8 |
| 2020 (7) | 25.87 | 4.19 | 14.60 | 28.63 | 7.06 | 49.54 | 14.03 | 18.6 | 10.37 | 3.39 | 8.96 | 13.27 | 6.90 | 3.76 | 0.64 | -1.54 | 21.81 | 26.58 | 39.17 | 27.63 | 103.99 | 8.48 | -3.99 | 0 | 0.07 | -57.3 | 33.53 | -4.04 |
| 2019 (6) | 24.83 | 30.68 | 11.35 | 145.67 | 4.72 | 30.3 | 11.83 | 83.98 | 10.03 | 70.58 | 7.91 | 90.14 | 6.65 | 79.25 | 0.65 | 3.17 | 17.23 | 59.39 | 30.69 | 184.17 | 95.86 | 33.99 | 4.14 | -85.47 | 0.16 | -66.2 | 34.94 | 5.37 |
| 2018 (5) | 19.00 | 206.95 | 4.62 | 0 | 3.62 | 36.68 | 6.43 | 0 | 5.88 | 0 | 4.16 | 0 | 3.71 | 0 | 0.63 | -4.55 | 10.81 | 0 | 10.80 | -30.9 | 71.54 | -3.7 | 28.46 | 10.71 | 0.46 | 0 | 33.16 | -7.5 |
| 2017 (4) | 6.19 | -36.45 | -8.58 | 0 | 2.65 | -12.75 | -11.58 | 0 | -11.55 | 0 | -8.96 | 0 | -7.62 | 0 | 0.66 | -1.49 | -8.32 | 0 | 15.63 | -13.69 | 74.30 | 0 | 25.70 | -83.8 | 0.00 | 0 | 35.85 | 1.99 |
| 2016 (3) | 9.74 | -23.55 | -6.22 | 0 | 3.04 | -16.55 | 10.57 | 0 | 9.80 | 0 | 7.53 | 0 | 6.58 | 0 | 0.67 | 21.82 | 14.08 | 864.38 | 18.11 | 47.12 | -58.70 | 0 | 158.70 | 0 | 0.00 | 0 | 35.15 | -6.04 |
| 2015 (2) | 12.74 | -22.55 | -5.27 | 0 | 3.64 | -13.29 | -3.28 | 0 | -3.47 | 0 | -2.21 | 0 | -1.90 | 0 | 0.55 | -11.29 | 1.46 | -71.26 | 12.31 | -33.75 | 159.32 | 0 | -61.02 | 0 | 0.00 | 0 | 37.41 | 9.35 |
| 2014 (1) | 16.45 | 0 | 0.20 | 0 | 4.20 | -16.85 | -0.14 | 0 | -0.82 | 0 | -0.59 | 0 | -0.51 | 0 | 0.62 | -7.46 | 5.08 | -56.8 | 18.58 | 25.46 | -133.33 | 0 | 233.33 | 2213.89 | 0.00 | 0 | 34.21 | 17.72 |
