- 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) | -48.19 | -32.1 | -458.02 | -73.84 | -30.64 | -3667.35 | -75.98 | -46.17 | -1683.57 | -111.06 | -163.8 | -3436.94 | -10.40 | -142.99 | -2066.67 | -9.08 | -154.34 | -2170.0 | 0.08 | 0.0 | -38.46 | -54.24 | -60.38 | -829.03 | 14.51 | -0.21 | -14.34 | 95.56 | -14.25 | 138.89 | 2.22 | 125.93 | -96.3 | 71.34 | 10.47 | 92.29 |
| 23Q3 (19) | -36.48 | -33.09 | -319.36 | -56.52 | -3.73 | -3013.4 | -51.98 | -2.36 | -720.29 | -42.10 | -3.24 | -728.36 | -4.28 | 5.31 | -424.24 | -3.57 | 0.83 | -446.6 | 0.08 | -11.11 | -46.67 | -33.82 | -1.47 | -295.38 | 14.54 | -42.37 | -27.81 | 111.43 | 3.47 | 382.86 | -8.57 | -11.43 | -111.14 | 64.58 | 16.72 | 104.69 |
| 23Q2 (18) | -27.41 | -7308.11 | -298.05 | -54.49 | -159.85 | -1282.99 | -50.78 | -147.1 | -5742.22 | -40.78 | -148.05 | -6186.57 | -4.52 | -113.21 | -3866.67 | -3.60 | -105.71 | -4100.0 | 0.09 | -18.18 | -30.77 | -33.33 | -366.81 | -400.0 | 25.23 | -3.26 | -28.14 | 107.69 | 2.56 | 117.95 | -7.69 | 0 | -101.1 | 55.33 | 14.11 | 56.26 |
| 23Q1 (17) | -0.37 | -102.75 | -101.47 | -20.97 | -969.9 | -286.4 | -20.55 | -382.39 | -234.75 | -16.44 | -423.57 | -234.75 | -2.12 | -341.67 | -185.48 | -1.75 | -337.5 | -191.62 | 0.11 | -15.38 | -31.25 | -7.14 | -195.97 | -130.16 | 26.08 | 53.96 | -27.82 | 105.00 | 162.5 | 43.68 | -0.00 | -100.0 | -100.0 | 48.49 | 30.7 | 55.02 |
| 22Q4 (16) | 13.46 | -19.06 | -61.97 | -1.96 | -201.03 | -110.08 | -4.26 | -150.84 | -121.99 | -3.14 | -146.87 | -119.49 | -0.48 | -136.36 | -112.4 | -0.40 | -138.83 | -112.9 | 0.13 | -13.33 | -31.58 | 7.44 | -57.02 | -71.61 | 16.94 | -15.89 | -30.26 | 40.00 | 73.33 | -60.0 | 60.00 | -22.0 | 0 | 37.10 | 17.59 | 46.12 |
| 22Q3 (15) | 16.63 | 20.16 | -45.62 | 1.94 | 149.24 | -88.67 | 8.38 | 831.11 | -52.44 | 6.70 | 900.0 | -52.58 | 1.32 | 1000.0 | -62.18 | 1.03 | 1044.44 | -60.98 | 0.15 | 15.38 | -21.05 | 17.31 | 55.81 | -27.94 | 20.14 | -42.64 | -22.86 | 23.08 | 103.85 | -76.26 | 76.92 | -89.01 | 2669.23 | 31.55 | -10.9 | 24.41 |
| 22Q2 (14) | 13.84 | -44.97 | -57.44 | -3.94 | -135.02 | -121.8 | 0.90 | -94.1 | -94.65 | 0.67 | -94.51 | -95.85 | 0.12 | -95.16 | -96.69 | 0.09 | -95.29 | -96.51 | 0.13 | -18.75 | -18.75 | 11.11 | -53.06 | -54.01 | 35.11 | -2.82 | -9.84 | -600.00 | -921.05 | -662.5 | 700.00 | 2500.0 | 10600.0 | 35.41 | 13.2 | 17.8 |
| 22Q1 (13) | 25.15 | -28.93 | 0.84 | 11.25 | -42.13 | 20.06 | 15.25 | -21.27 | 56.89 | 12.20 | -24.27 | 56.81 | 2.48 | -35.92 | 64.24 | 1.91 | -38.39 | 69.03 | 0.16 | -15.79 | 14.29 | 23.67 | -9.69 | 41.14 | 36.13 | 48.74 | -12.94 | 73.08 | -26.92 | -22.05 | 26.92 | 0 | 330.77 | 31.28 | 23.2 | -3.01 |
| 21Q4 (12) | 35.39 | 15.73 | -10.09 | 19.44 | 13.49 | -26.97 | 19.37 | 9.93 | -24.25 | 16.11 | 14.01 | -21.64 | 3.87 | 10.89 | -12.64 | 3.10 | 17.42 | -11.17 | 0.19 | 0.0 | 11.76 | 26.21 | 9.12 | -15.4 | 24.29 | -6.97 | -11.58 | 100.00 | 2.86 | -4.08 | 0.00 | -100.0 | 100.0 | 25.39 | 0.12 | -10.19 |
| 21Q3 (11) | 30.58 | -5.97 | -4.65 | 17.13 | -5.2 | 8.01 | 17.62 | 4.69 | 17.39 | 14.13 | -12.56 | 18.74 | 3.49 | -3.59 | 39.6 | 2.64 | 2.33 | 41.94 | 0.19 | 18.75 | 18.75 | 24.02 | -0.58 | 16.09 | 26.11 | -32.95 | -2.79 | 97.22 | -8.85 | -9.72 | 2.78 | 141.67 | 172.22 | 25.36 | -15.64 | -13.71 |
| 21Q2 (10) | 32.52 | 30.39 | 11.07 | 18.07 | 92.85 | 33.06 | 16.83 | 73.15 | 34.32 | 16.16 | 107.71 | 53.61 | 3.62 | 139.74 | 51.46 | 2.58 | 128.32 | 55.42 | 0.16 | 14.29 | 0.0 | 24.16 | 44.07 | 34.0 | 38.94 | -6.17 | -9.25 | 106.67 | 13.78 | -1.87 | -6.67 | -206.67 | 23.33 | 30.06 | -6.79 | 0 |
| 21Q1 (9) | 24.94 | -36.64 | -29.17 | 9.37 | -64.8 | -53.38 | 9.72 | -61.99 | -55.27 | 7.78 | -62.16 | -55.69 | 1.51 | -65.91 | -64.97 | 1.13 | -67.62 | -63.31 | 0.14 | -17.65 | -22.22 | 16.77 | -45.87 | -36.65 | 41.50 | 51.07 | -9.17 | 93.75 | -10.08 | 0.61 | 6.25 | 246.88 | -8.33 | 32.25 | 14.08 | 18.78 |
| 20Q4 (8) | 39.36 | 22.73 | -0.3 | 26.62 | 67.84 | 7.64 | 25.57 | 70.35 | 13.85 | 20.56 | 72.77 | 17.15 | 4.43 | 77.2 | -22.01 | 3.49 | 87.63 | -18.65 | 0.17 | 6.25 | -29.17 | 30.98 | 49.73 | 11.28 | 27.47 | 2.27 | -22.05 | 104.26 | -3.19 | -5.08 | -4.26 | -10.64 | 56.74 | 28.27 | -3.81 | 40.79 |
| 20Q3 (7) | 32.07 | 9.53 | -20.5 | 15.86 | 16.79 | -33.7 | 15.01 | 19.79 | -38.73 | 11.90 | 13.12 | -38.34 | 2.50 | 4.6 | -51.64 | 1.86 | 12.05 | -51.18 | 0.16 | 0.0 | -20.0 | 20.69 | 14.75 | -29.39 | 26.86 | -37.4 | -9.68 | 107.69 | -0.92 | 11.92 | -3.85 | 55.77 | -303.85 | 29.39 | 0 | 16.12 |
| 20Q2 (6) | 29.28 | -16.84 | -25.99 | 13.58 | -32.44 | -44.57 | 12.53 | -42.34 | -51.15 | 10.52 | -40.09 | -49.18 | 2.39 | -44.55 | -55.66 | 1.66 | -46.1 | -58.81 | 0.16 | -11.11 | -15.79 | 18.03 | -31.89 | -40.18 | 42.91 | -6.08 | 2.12 | 108.70 | 16.65 | 15.09 | -8.70 | -227.54 | -334.78 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 35.21 | -10.82 | 16.63 | 20.10 | -18.72 | 52.85 | 21.73 | -3.25 | 49.14 | 17.56 | 0.06 | 60.22 | 4.31 | -24.12 | 77.37 | 3.08 | -28.21 | 59.59 | 0.18 | -25.0 | 0.0 | 26.47 | -4.92 | 36.87 | 45.69 | 29.65 | 75.46 | 93.18 | -15.16 | 0.95 | 6.82 | 169.32 | -40.91 | 27.15 | 35.21 | -5.1 |
| 19Q4 (4) | 39.48 | -2.13 | 0.0 | 24.73 | 3.39 | 0.0 | 22.46 | -8.33 | 0.0 | 17.55 | -9.07 | 0.0 | 5.68 | 9.86 | 0.0 | 4.29 | 12.6 | 0.0 | 0.24 | 20.0 | 0.0 | 27.84 | -4.98 | 0.0 | 35.24 | 18.49 | 0.0 | 109.84 | 14.14 | 0.0 | -9.84 | -621.31 | 0.0 | 20.08 | -20.66 | 0.0 |
| 19Q3 (3) | 40.34 | 1.97 | 0.0 | 23.92 | -2.37 | 0.0 | 24.50 | -4.48 | 0.0 | 19.30 | -6.76 | 0.0 | 5.17 | -4.08 | 0.0 | 3.81 | -5.46 | 0.0 | 0.20 | 5.26 | 0.0 | 29.30 | -2.79 | 0.0 | 29.74 | -29.22 | 0.0 | 96.23 | 1.89 | 0.0 | 1.89 | -49.06 | 0.0 | 25.31 | -3.14 | 0.0 |
| 19Q2 (2) | 39.56 | 31.04 | 0.0 | 24.50 | 86.31 | 0.0 | 25.65 | 76.05 | 0.0 | 20.70 | 88.87 | 0.0 | 5.39 | 121.81 | 0.0 | 4.03 | 108.81 | 0.0 | 0.19 | 5.56 | 0.0 | 30.14 | 55.84 | 0.0 | 42.02 | 61.37 | 0.0 | 94.44 | 2.31 | 0.0 | 3.70 | -67.9 | 0.0 | 26.13 | -8.67 | 0.0 |
| 19Q1 (1) | 30.19 | 0.0 | 0.0 | 13.15 | 0.0 | 0.0 | 14.57 | 0.0 | 0.0 | 10.96 | 0.0 | 0.0 | 2.43 | 0.0 | 0.0 | 1.93 | 0.0 | 0.0 | 0.18 | 0.0 | 0.0 | 19.34 | 0.0 | 0.0 | 26.04 | 0.0 | 0.0 | 92.31 | 0.0 | 0.0 | 11.54 | 0.0 | 0.0 | 28.61 | 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) | -24.71 | 0 | -47.82 | 0 | 16.83 | 77.33 | -46.13 | 0 | -46.79 | 0 | -20.26 | 0 | -17.47 | 0 | 0.37 | -36.21 | -29.04 | 0 | 14.51 | -14.34 | 103.57 | 158.93 | -3.57 | 0 | 0.15 | 37.68 | 58.30 | 73.77 |
| 2022 (9) | 17.74 | -43.05 | 2.37 | -85.48 | 9.49 | 39.58 | 5.92 | -63.5 | 4.78 | -65.34 | 3.36 | -71.6 | 2.80 | -70.21 | 0.58 | -14.71 | 15.42 | -33.16 | 16.94 | -30.26 | 40.00 | -60.0 | 60.00 | 0 | 0.11 | 15.55 | 33.55 | 19.95 |
| 2021 (8) | 31.15 | -8.52 | 16.32 | -14.64 | 6.80 | 29.9 | 16.22 | -13.95 | 13.79 | -9.57 | 11.83 | -9.42 | 9.40 | -5.53 | 0.68 | 4.62 | 23.07 | -4.51 | 24.29 | -11.58 | 100.00 | -1.41 | -0.82 | 0 | 0.09 | 2.86 | 27.97 | -1.86 |
| 2020 (7) | 34.05 | -9.9 | 19.12 | -13.44 | 5.23 | 9.43 | 18.85 | -14.67 | 15.25 | -12.2 | 13.06 | -28.36 | 9.95 | -28.93 | 0.65 | -19.75 | 24.16 | -10.49 | 27.47 | -22.05 | 101.43 | 1.43 | -1.43 | 0 | 0.09 | 4.84 | 28.50 | 16.04 |
| 2019 (6) | 37.79 | 33.82 | 22.09 | 56.67 | 4.78 | -11.98 | 22.09 | 43.63 | 17.37 | 42.14 | 18.23 | 66.33 | 14.00 | 63.36 | 0.81 | 15.71 | 26.99 | 29.02 | 35.24 | 41.3 | 100.00 | 8.65 | 0.00 | 0 | 0.09 | -56.84 | 24.56 | -15.16 |
| 2018 (5) | 28.24 | -24.19 | 14.10 | -38.67 | 5.43 | 9.47 | 15.38 | -30.0 | 12.22 | -29.16 | 10.96 | -40.14 | 8.57 | -38.7 | 0.70 | -13.58 | 20.92 | -22.72 | 24.94 | -19.83 | 92.04 | -12.21 | 7.96 | 0 | 0.20 | 0 | 28.95 | 13.17 |
| 2017 (4) | 37.25 | 4.58 | 22.99 | 24.47 | 4.96 | 1.15 | 21.97 | 20.58 | 17.25 | 22.6 | 18.31 | 23.55 | 13.98 | 27.44 | 0.81 | 3.85 | 27.07 | 16.13 | 31.11 | -0.19 | 104.84 | 3.44 | -4.84 | 0 | 0.00 | 0 | 25.58 | -2.1 |
| 2016 (3) | 35.62 | -8.38 | 18.47 | -21.14 | 4.91 | 56.11 | 18.22 | -25.48 | 14.07 | -26.68 | 14.82 | -40.34 | 10.97 | -36.7 | 0.78 | -13.33 | 23.31 | -15.82 | 31.17 | -21.07 | 101.35 | 5.74 | -1.35 | 0 | 0.00 | 0 | 26.13 | 9.97 |
| 2015 (2) | 38.88 | 4.71 | 23.42 | 3.9 | 3.14 | -6.58 | 24.45 | 0.45 | 19.19 | -1.29 | 24.84 | -14.43 | 17.33 | -11.94 | 0.90 | -10.89 | 27.69 | -0.36 | 39.49 | -17.54 | 95.85 | 3.19 | 4.15 | -44.75 | 0.00 | 0 | 23.76 | 7.22 |
| 2014 (1) | 37.13 | 0 | 22.54 | 0 | 3.37 | -20.11 | 24.34 | 0 | 19.44 | 0 | 29.03 | 0 | 19.68 | 0 | 1.01 | -3.81 | 27.79 | 16.91 | 47.89 | 0.88 | 92.89 | -3.12 | 7.51 | 82.11 | 0.00 | 0 | 22.16 | -1.16 |
