- 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) | -0.73 | -112.5 | -106.63 | -12.39 | -148.8 | -3640.0 | -14.30 | -423.81 | -1100.0 | -8.55 | -1800.0 | -517.07 | -1.63 | -1530.0 | -396.36 | -1.16 | -3766.67 | -376.19 | 0.14 | -12.5 | -26.32 | -1.86 | -123.28 | -117.22 | 35.06 | -6.56 | -16.02 | 86.90 | -52.82 | 247.62 | 13.10 | 115.55 | -82.54 | 32.11 | 6.93 | 23.26 |
| 23Q3 (19) | 5.84 | -56.87 | -20.76 | -4.98 | -522.5 | -7.56 | -2.73 | -133.5 | -174.39 | -0.45 | -106.41 | -111.34 | -0.10 | -106.25 | -109.01 | -0.03 | -102.61 | -103.8 | 0.16 | 0.0 | -15.79 | 7.99 | -58.01 | -37.48 | 37.52 | -15.07 | -14.51 | 184.21 | 1850.0 | 248.27 | -84.21 | -176.19 | -137.55 | 30.03 | -11.13 | 6.38 |
| 23Q2 (18) | 13.54 | 51.62 | 81.02 | -0.80 | 80.1 | 84.99 | 8.15 | 276.79 | 1597.92 | 7.02 | 208.17 | 480.17 | 1.60 | 210.34 | 357.14 | 1.15 | 218.56 | 310.71 | 0.16 | 0.0 | -20.0 | 19.03 | 196.88 | 100.11 | 44.18 | -3.66 | -7.71 | -10.53 | -112.03 | 99.16 | 110.53 | 784.21 | -91.81 | 33.79 | 5.07 | 12.07 |
| 23Q1 (17) | 8.93 | -18.89 | -5.1 | -4.02 | -1248.57 | -94.2 | -4.61 | -422.38 | -401.09 | -6.49 | -416.59 | -10916.67 | -1.45 | -363.64 | -7350.0 | -0.97 | -330.95 | -2525.0 | 0.16 | -15.79 | -15.79 | 6.41 | -40.65 | -27.57 | 45.86 | 9.84 | 10.43 | 87.50 | 250.0 | -61.11 | 12.50 | -83.33 | 110.0 | 32.16 | 23.45 | 0.85 |
| 22Q4 (16) | 11.01 | 49.39 | 19.67 | 0.35 | 107.56 | 240.0 | 1.43 | -61.04 | 380.39 | 2.05 | -48.36 | 16.48 | 0.55 | -50.45 | -5.17 | 0.42 | -46.84 | 0.0 | 0.19 | 0.0 | -13.64 | 10.80 | -15.49 | 31.07 | 41.75 | -4.88 | -7.28 | 25.00 | 120.12 | -58.33 | 75.00 | -66.55 | 25.0 | 26.05 | -7.72 | 1.72 |
| 22Q3 (15) | 7.37 | -1.47 | 22.22 | -4.63 | 13.13 | 35.43 | 3.67 | 664.58 | 140.73 | 3.97 | 228.1 | 158.64 | 1.11 | 217.14 | 154.95 | 0.79 | 182.14 | 162.7 | 0.19 | -5.0 | 0.0 | 12.78 | 34.38 | 1178.0 | 43.89 | -8.31 | -16.7 | -124.24 | 90.06 | -254.83 | 224.24 | -83.39 | 968.45 | 28.23 | -6.37 | -17.02 |
| 22Q2 (14) | 7.48 | -20.51 | 533.9 | -5.33 | -157.49 | 53.85 | 0.48 | 152.17 | 104.89 | 1.21 | 1916.67 | 115.28 | 0.35 | 1650.0 | 115.22 | 0.28 | 600.0 | 119.44 | 0.20 | 5.26 | 5.26 | 9.51 | 7.46 | 2617.14 | 47.87 | 15.27 | -16.15 | -1250.00 | -655.56 | -1158.67 | 1350.00 | 1180.0 | 7570.0 | 30.15 | -5.46 | -8.14 |
| 22Q1 (13) | 9.41 | 2.28 | 87.45 | -2.07 | -728.0 | 69.87 | -0.92 | -80.39 | 84.25 | 0.06 | -96.59 | 101.21 | 0.02 | -96.55 | 101.47 | 0.04 | -90.48 | 104.71 | 0.19 | -13.64 | 5.56 | 8.85 | 7.4 | 96.23 | 41.53 | -7.77 | -20.27 | 225.00 | 275.0 | 92.86 | -125.00 | -308.33 | -650.0 | 31.89 | 24.52 | -2.18 |
| 21Q4 (12) | 9.20 | 52.57 | 92.47 | -0.25 | 96.51 | 95.5 | -0.51 | 94.34 | 94.76 | 1.76 | 126.0 | 120.47 | 0.58 | 128.71 | 122.48 | 0.42 | 133.33 | 125.15 | 0.22 | 15.79 | 10.0 | 8.24 | 724.0 | 1036.36 | 45.03 | -14.54 | -15.69 | 60.00 | -25.23 | 5.6 | 60.00 | 185.88 | 38.95 | 25.61 | -24.72 | -10.64 |
| 21Q3 (11) | 6.03 | 411.02 | 6.54 | -7.17 | 37.92 | -64.07 | -9.01 | 8.15 | -55.61 | -6.77 | 14.52 | -20.89 | -2.02 | 12.17 | -25.47 | -1.26 | 12.5 | -15.6 | 0.19 | 0.0 | -5.0 | 1.00 | 185.71 | -64.66 | 52.69 | -7.71 | 8.77 | 80.25 | -32.04 | 4.94 | 20.99 | 216.13 | -17.66 | 34.02 | 3.66 | 22.15 |
| 21Q2 (10) | 1.18 | -76.49 | 61.64 | -11.55 | -68.12 | -63.14 | -9.81 | -67.98 | -147.73 | -7.92 | -59.68 | 8.12 | -2.30 | -69.12 | -36.09 | -1.44 | -69.41 | -19.01 | 0.19 | 5.56 | 35.71 | 0.35 | -92.24 | -95.88 | 57.09 | 9.6 | 53.02 | 118.07 | 1.2 | -34.1 | -18.07 | -8.43 | 77.17 | 32.82 | 0.67 | 0 |
| 21Q1 (9) | 5.02 | 5.02 | 22.74 | -6.87 | -23.78 | 50.79 | -5.84 | 39.98 | 32.95 | -4.96 | 42.33 | 21.89 | -1.36 | 47.29 | -18.26 | -0.85 | 49.1 | -4.94 | 0.18 | -10.0 | 38.46 | 4.51 | 612.5 | 8.67 | 52.09 | -2.47 | 52.13 | 116.67 | 105.33 | -27.98 | -16.67 | -138.6 | 72.22 | 32.60 | 13.75 | -17.97 |
| 20Q4 (8) | 4.78 | -15.55 | -49.58 | -5.55 | -27.0 | -120.24 | -9.73 | -68.05 | -474.23 | -8.60 | -53.57 | -934.95 | -2.58 | -60.25 | -1055.56 | -1.67 | -53.21 | -795.83 | 0.20 | 0.0 | 5.26 | -0.88 | -131.1 | -107.75 | 53.41 | 10.26 | 47.58 | 56.82 | -25.7 | 159.52 | 43.18 | 69.41 | -77.91 | 28.66 | 2.91 | 0 |
| 20Q3 (7) | 5.66 | 675.34 | -15.65 | -4.37 | 38.28 | -8.44 | -5.79 | -46.21 | -1098.28 | -5.60 | 35.03 | -935.82 | -1.61 | 4.73 | -947.37 | -1.09 | 9.92 | -705.56 | 0.20 | 42.86 | -4.76 | 2.83 | -66.71 | -66.9 | 48.44 | 29.83 | 28.97 | 76.47 | -57.32 | 110.06 | 25.49 | 132.2 | -97.04 | 27.85 | 0 | -10.97 |
| 20Q2 (6) | 0.73 | -82.15 | -69.07 | -7.08 | 49.28 | 27.38 | -3.96 | 54.54 | 44.46 | -8.62 | -35.75 | -32.21 | -1.69 | -46.96 | -4.32 | -1.21 | -49.38 | -4.31 | 0.14 | 7.69 | -22.22 | 8.50 | 104.82 | 374.86 | 37.31 | 8.97 | 8.33 | 179.17 | 10.6 | 31.1 | -79.17 | -31.94 | -115.91 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 4.09 | -56.86 | -9.11 | -13.96 | -453.97 | -61.95 | -8.71 | -435.0 | 12.2 | -6.35 | -716.5 | 30.53 | -1.15 | -525.93 | 43.9 | -0.81 | -437.5 | 44.52 | 0.13 | -31.58 | -23.53 | 4.15 | -63.44 | 3292.31 | 34.24 | -5.39 | -3.19 | 162.00 | 269.71 | 86.55 | -60.00 | -130.7 | -556.0 | 39.74 | 0 | 2.71 |
| 19Q4 (4) | 9.48 | 41.28 | 0.0 | -2.52 | 37.47 | 0.0 | 2.60 | 348.28 | 0.0 | 1.03 | 53.73 | 0.0 | 0.27 | 42.11 | 0.0 | 0.24 | 33.33 | 0.0 | 0.19 | -9.52 | 0.0 | 11.35 | 32.75 | 0.0 | 36.19 | -3.65 | 0.0 | -95.45 | 87.44 | 0.0 | 195.45 | -77.27 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 6.71 | 184.32 | 0.0 | -4.03 | 58.67 | 0.0 | 0.58 | 108.13 | 0.0 | 0.67 | 110.28 | 0.0 | 0.19 | 111.73 | 0.0 | 0.18 | 115.52 | 0.0 | 0.21 | 16.67 | 0.0 | 8.55 | 377.65 | 0.0 | 37.56 | 9.06 | 0.0 | -760.00 | -656.1 | 0.0 | 860.00 | 2445.45 | 0.0 | 31.28 | -7.04 | 0.0 |
| 19Q2 (2) | 2.36 | -47.56 | 0.0 | -9.75 | -13.11 | 0.0 | -7.13 | 28.12 | 0.0 | -6.52 | 28.67 | 0.0 | -1.62 | 20.98 | 0.0 | -1.16 | 20.55 | 0.0 | 0.18 | 5.88 | 0.0 | 1.79 | 1476.92 | 0.0 | 34.44 | -2.63 | 0.0 | 136.67 | 57.37 | 0.0 | -36.67 | -378.67 | 0.0 | 33.65 | -13.03 | 0.0 |
| 19Q1 (1) | 4.50 | 0.0 | 0.0 | -8.62 | 0.0 | 0.0 | -9.92 | 0.0 | 0.0 | -9.14 | 0.0 | 0.0 | -2.05 | 0.0 | 0.0 | -1.46 | 0.0 | 0.0 | 0.17 | 0.0 | 0.0 | -0.13 | 0.0 | 0.0 | 35.37 | 0.0 | 0.0 | 86.84 | 0.0 | 0.0 | 13.16 | 0.0 | 0.0 | 38.69 | 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) | 7.21 | -17.88 | -5.26 | 0 | 10.90 | 19.74 | -2.91 | 0 | -1.85 | 0 | -1.59 | 0 | -0.99 | 0 | 0.62 | -20.51 | 8.31 | -20.63 | 35.06 | -16.02 | 179.75 | 0 | -79.75 | 0 | 0.22 | 11.44 | 32.02 | 9.96 |
| 2022 (9) | 8.78 | 57.35 | -2.98 | 0 | 9.10 | -4.36 | 1.16 | 0 | 1.81 | 0 | 2.02 | 0 | 1.54 | 0 | 0.78 | 0.0 | 10.47 | 178.46 | 41.75 | -7.28 | -260.98 | 0 | 360.98 | 0 | 0.20 | 0.98 | 29.12 | -6.03 |
| 2021 (8) | 5.58 | 36.76 | -6.13 | 0 | 9.52 | -4.53 | -6.02 | 0 | -4.16 | 0 | -4.87 | 0 | -3.11 | 0 | 0.78 | 18.18 | 3.76 | 21.68 | 45.03 | -15.69 | 101.38 | 1.85 | -1.83 | 0 | 0.19 | -0.69 | 30.99 | -2.64 |
| 2020 (7) | 4.08 | -29.9 | -7.15 | 0 | 9.97 | 17.42 | -7.18 | 0 | -7.28 | 0 | -6.98 | 0 | -4.67 | 0 | 0.66 | -12.0 | 3.09 | -44.52 | 53.41 | 47.58 | 99.53 | -47.59 | 0.47 | 0 | 0.20 | -4.55 | 31.83 | -10.41 |
| 2019 (6) | 5.82 | 15.94 | -6.11 | 0 | 8.49 | -5.48 | -3.21 | 0 | -3.25 | 0 | -3.29 | 0 | -2.24 | 0 | 0.75 | 4.17 | 5.57 | 10.74 | 36.19 | 0.89 | 189.91 | 42.64 | -89.91 | 0 | 0.21 | 7.62 | 35.53 | -3.97 |
| 2018 (5) | 5.02 | -13.6 | -6.39 | 0 | 8.98 | -13.6 | -4.81 | 0 | -0.65 | 0 | -4.06 | 0 | -2.39 | 0 | 0.72 | 5.88 | 5.03 | -27.0 | 35.87 | -20.62 | 133.14 | -13.78 | -33.14 | 0 | 0.19 | 7.55 | 37.00 | 1.09 |
| 2017 (4) | 5.81 | -39.16 | -6.22 | 0 | 10.40 | 0.55 | -4.03 | 0 | -3.86 | 0 | -3.86 | 0 | -2.33 | 0 | 0.68 | 0.0 | 6.89 | -29.62 | 45.19 | -7.98 | 154.42 | -41.43 | -54.42 | 0 | 0.18 | 0 | 36.60 | 1.55 |
| 2016 (3) | 9.55 | 31.72 | -2.90 | 0 | 10.34 | -7.08 | -1.10 | 0 | -1.05 | 0 | -1.07 | 0 | -0.40 | 0 | 0.68 | 0.0 | 9.79 | 37.31 | 49.11 | -1.48 | 263.64 | 268.32 | -163.64 | 0 | 0.00 | 0 | 36.04 | 0.59 |
| 2015 (2) | 7.25 | 19.24 | -3.26 | 0 | 11.13 | -7.94 | -4.55 | 0 | -4.56 | 0 | -4.62 | 0 | -2.79 | 0 | 0.68 | 0.0 | 7.13 | -23.91 | 49.85 | 4.2 | 71.58 | -13.61 | 28.42 | 65.79 | 0.00 | 0 | 35.83 | 4.55 |
| 2014 (1) | 6.08 | 0 | -2.73 | 0 | 12.09 | 28.46 | -3.28 | 0 | -3.25 | 0 | -3.26 | 0 | -1.90 | 0 | 0.68 | -20.0 | 9.37 | -23.88 | 47.84 | 0.72 | 82.86 | 13.21 | 17.14 | -37.74 | 0.00 | 0 | 34.27 | 10.09 |
