- 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) | -29.71 | -60.51 | -294.69 | -37.02 | -36.25 | -468.73 | -44.60 | -45.51 | -861.09 | -44.51 | -45.03 | -781.62 | -37.47 | -108.4 | -763.19 | -4.46 | -62.18 | -395.36 | 0.11 | 10.0 | -38.89 | -28.57 | -109.46 | -296.76 | 842.59 | 54.17 | 134.16 | 83.49 | -6.77 | -50.36 | 17.43 | 45.99 | 123.97 | 36.75 | -14.61 | 46.94 |
| 23Q3 (19) | -18.51 | -85.84 | -195.86 | -27.17 | -67.3 | -281.74 | -30.65 | -58.4 | -274.45 | -30.69 | -58.2 | -280.0 | -17.98 | -55.67 | -181.99 | -2.75 | -33.5 | -164.25 | 0.10 | -23.08 | -56.52 | -13.64 | -188.98 | -156.46 | 546.55 | 32.04 | 36.21 | 89.55 | 7.03 | 5.95 | 11.94 | -26.87 | -16.42 | 43.04 | 16.1 | 125.22 |
| 23Q2 (18) | -9.96 | -283.09 | -153.43 | -16.24 | -1524.56 | -208.41 | -19.35 | -1156.49 | -231.01 | -19.40 | -1159.74 | -231.35 | -11.55 | -1155.43 | -146.89 | -2.06 | -1684.62 | -151.89 | 0.13 | 0.0 | -48.0 | -4.72 | -140.97 | -122.44 | 413.93 | 21.35 | -19.75 | 83.67 | 211.56 | -17.47 | 16.33 | -90.67 | 1275.51 | 37.07 | 8.52 | 115.4 |
| 23Q1 (17) | 5.44 | -64.35 | -62.61 | 1.14 | -88.65 | -89.76 | -1.54 | -126.28 | -110.49 | -1.54 | -123.58 | -110.44 | -0.92 | -116.28 | -103.04 | 0.13 | -91.39 | -96.7 | 0.13 | -27.78 | -48.0 | 11.52 | -20.66 | -43.14 | 341.11 | -5.2 | -47.4 | -75.00 | -144.59 | -198.53 | 175.00 | 340.63 | 632.81 | 34.16 | 36.59 | 79.79 |
| 22Q4 (16) | 15.26 | -20.97 | 33.16 | 10.04 | -32.84 | 18.4 | 5.86 | -66.65 | -30.57 | 6.53 | -61.7 | -22.08 | 5.65 | -74.24 | -74.56 | 1.51 | -64.72 | -41.02 | 0.18 | -21.74 | -33.33 | 14.52 | -39.9 | 4.91 | 359.83 | -10.32 | -56.86 | 168.18 | 98.98 | 68.18 | -72.73 | -609.09 | 0 | 25.01 | 30.87 | 38.41 |
| 22Q3 (15) | 19.31 | 3.59 | -1.23 | 14.95 | -0.2 | -10.16 | 17.57 | 18.96 | 11.41 | 17.05 | 15.44 | 7.64 | 21.93 | -10.96 | -65.36 | 4.28 | 7.81 | -16.41 | 0.23 | -8.0 | -23.33 | 24.16 | 14.88 | 15.27 | 401.25 | -22.21 | -57.89 | 84.52 | -16.63 | -19.92 | 14.29 | 1128.57 | 357.14 | 19.11 | 11.04 | -0.05 |
| 22Q2 (14) | 18.64 | 28.11 | 104.39 | 14.98 | 34.59 | 176.89 | 14.77 | 0.61 | 210.29 | 14.77 | 0.14 | 216.27 | 24.63 | -18.66 | -4.05 | 3.97 | 0.76 | 145.06 | 0.25 | 0.0 | -7.41 | 21.03 | 3.8 | 95.99 | 515.79 | -20.47 | -70.43 | 101.39 | 33.2 | -13.1 | -1.39 | -105.82 | 87.5 | 17.21 | -9.42 | -21.74 |
| 22Q1 (13) | 14.55 | 26.96 | 4917.24 | 11.13 | 31.25 | 310.4 | 14.68 | 73.93 | 301.65 | 14.75 | 76.01 | 293.32 | 30.28 | 36.33 | 191.15 | 3.94 | 53.91 | 383.45 | 0.25 | -7.41 | 8.7 | 20.26 | 46.39 | 0 | 648.54 | -22.26 | -69.75 | 76.12 | -23.88 | 2.99 | 23.88 | 0 | -8.46 | 19.00 | 5.15 | -25.43 |
| 21Q4 (12) | 11.46 | -41.38 | 359.28 | 8.48 | -49.04 | 247.74 | 8.44 | -46.48 | 247.81 | 8.38 | -47.1 | 231.55 | 22.21 | -64.92 | 196.15 | 2.56 | -50.0 | 322.61 | 0.27 | -10.0 | 12.5 | 13.84 | -33.97 | 1472.73 | 834.19 | -12.45 | -46.66 | 100.00 | -5.26 | -5.0 | 0.00 | 100.0 | 0 | 18.07 | -5.49 | -15.4 |
| 21Q3 (11) | 19.55 | 114.36 | 406.91 | 16.64 | 207.58 | 325.47 | 15.77 | 231.3 | 515.0 | 15.84 | 239.19 | 445.85 | 63.31 | 146.63 | 557.77 | 5.12 | 216.05 | 953.33 | 0.30 | 11.11 | 30.43 | 20.96 | 95.34 | 487.11 | 952.84 | -45.38 | -26.82 | 105.56 | -9.52 | -45.11 | -5.56 | 50.0 | 93.98 | 19.12 | -13.05 | -9.68 |
| 21Q2 (10) | 9.12 | 3044.83 | 315.09 | 5.41 | 202.27 | 157.68 | 4.76 | 165.38 | 127.59 | 4.67 | 161.21 | 126.09 | 25.67 | 177.27 | 168.0 | 1.62 | 216.55 | 148.21 | 0.27 | 17.39 | 22.73 | 10.73 | 0 | 223.19 | 1744.55 | -18.62 | 54.09 | 116.67 | 57.84 | 113.22 | -11.11 | -142.59 | -124.54 | 21.99 | -13.7 | -1.87 |
| 21Q1 (9) | 0.29 | 106.56 | 102.6 | -5.29 | 7.84 | 69.84 | -7.28 | -27.5 | 65.77 | -7.63 | -19.78 | 65.4 | -33.22 | -43.81 | -19.15 | -1.39 | -20.87 | 60.73 | 0.23 | -4.17 | 21.05 | 0.00 | -100.0 | 100.0 | 2143.79 | 37.07 | 213.05 | 73.91 | -29.78 | -9.66 | 26.09 | 0 | 43.48 | 25.48 | 19.29 | -3.67 |
| 20Q4 (8) | -4.42 | 30.61 | 84.66 | -5.74 | 22.22 | 84.97 | -5.71 | -50.26 | 86.78 | -6.37 | -39.08 | 85.53 | -23.10 | -67.03 | 38.51 | -1.15 | -91.67 | 83.28 | 0.24 | 4.35 | 41.18 | 0.88 | -75.35 | 102.77 | 1563.96 | 20.11 | 209.39 | 105.26 | -45.26 | 18.99 | -0.00 | 100.0 | -100.0 | 21.36 | 0.9 | -17.62 |
| 20Q3 (7) | -6.37 | -50.24 | 62.08 | -7.38 | 21.32 | 69.36 | -3.80 | 77.97 | 86.53 | -4.58 | 74.41 | 84.19 | -13.83 | 63.36 | 33.22 | -0.60 | 82.14 | 87.07 | 0.23 | 4.55 | 27.78 | 3.57 | 140.99 | 119.86 | 1302.13 | 15.01 | 283.53 | 192.31 | 251.46 | 125.36 | -92.31 | -303.85 | -729.37 | 21.17 | -5.53 | -8.2 |
| 20Q2 (6) | -4.24 | 61.94 | 72.11 | -9.38 | 46.52 | 55.96 | -17.25 | 18.9 | 25.9 | -17.90 | 18.82 | 24.76 | -37.75 | -35.4 | -63.56 | -3.36 | 5.08 | 13.4 | 0.22 | 15.79 | 15.79 | -8.71 | 20.38 | 32.9 | 1132.16 | 65.32 | 314.12 | 54.72 | -33.12 | -40.8 | 45.28 | 149.06 | 398.11 | 22.41 | -15.27 | -0.8 |
| 20Q1 (5) | -11.14 | 61.33 | -13.56 | -17.54 | 54.08 | -1.86 | -21.27 | 50.74 | -12.54 | -22.05 | 49.9 | -11.25 | -27.88 | 25.79 | -3.53 | -3.54 | 48.55 | -20.41 | 0.19 | 11.76 | 5.56 | -10.94 | 65.62 | -43.76 | 684.81 | 35.47 | -11.98 | 81.82 | -7.51 | -11.36 | 18.18 | 57.58 | 89.09 | 26.45 | 2.01 | 16.78 |
| 19Q4 (4) | -28.81 | -71.49 | 0.0 | -38.20 | -58.57 | 0.0 | -43.18 | -53.01 | 0.0 | -44.01 | -51.97 | 0.0 | -37.57 | -81.41 | 0.0 | -6.88 | -48.28 | 0.0 | 0.17 | -5.56 | 0.0 | -31.82 | -76.97 | 0.0 | 505.50 | 48.89 | 0.0 | 88.46 | 3.67 | 0.0 | 11.54 | -21.33 | 0.0 | 25.93 | 12.45 | 0.0 |
| 19Q3 (3) | -16.80 | -10.53 | 0.0 | -24.09 | -13.1 | 0.0 | -28.22 | -21.22 | 0.0 | -28.96 | -21.73 | 0.0 | -20.71 | 10.27 | 0.0 | -4.64 | -19.59 | 0.0 | 0.18 | -5.26 | 0.0 | -17.98 | -38.52 | 0.0 | 339.51 | 24.19 | 0.0 | 85.33 | -7.67 | 0.0 | 14.67 | 61.33 | 0.0 | 23.06 | 2.08 | 0.0 |
| 19Q2 (2) | -15.20 | -54.94 | 0.0 | -21.30 | -23.69 | 0.0 | -23.28 | -23.17 | 0.0 | -23.79 | -20.03 | 0.0 | -23.08 | 14.3 | 0.0 | -3.88 | -31.97 | 0.0 | 0.19 | 5.56 | 0.0 | -12.98 | -70.57 | 0.0 | 273.39 | -64.86 | 0.0 | 92.42 | 0.13 | 0.0 | 9.09 | -5.45 | 0.0 | 22.59 | -0.26 | 0.0 |
| 19Q1 (1) | -9.81 | 0.0 | 0.0 | -17.22 | 0.0 | 0.0 | -18.90 | 0.0 | 0.0 | -19.82 | 0.0 | 0.0 | -26.93 | 0.0 | 0.0 | -2.94 | 0.0 | 0.0 | 0.18 | 0.0 | 0.0 | -7.61 | 0.0 | 0.0 | 778.00 | 0.0 | 0.0 | 92.31 | 0.0 | 0.0 | 9.62 | 0.0 | 0.0 | 22.65 | 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) | -12.58 | 0 | -19.10 | 0 | 10.93 | 124.65 | -23.29 | 0 | -23.29 | 0 | -67.16 | 0 | -9.24 | 0 | 0.46 | -51.06 | -8.20 | 0 | 842.59 | 134.16 | 82.17 | -13.58 | 17.83 | 262.46 | 1.38 | 1316.87 | 37.52 | 89.59 |
| 2022 (9) | 17.07 | 54.9 | 12.97 | 75.98 | 4.87 | 16.42 | 13.64 | 107.93 | 13.65 | 110.97 | 76.97 | 0.94 | 14.11 | 80.2 | 0.94 | -6.93 | 20.30 | 64.37 | 359.83 | -56.86 | 95.08 | -15.39 | 4.92 | 0 | 0.10 | -43.1 | 19.79 | -4.67 |
| 2021 (8) | 11.02 | 0 | 7.37 | 0 | 4.18 | -21.28 | 6.56 | 0 | 6.47 | 0 | 76.25 | 0 | 7.83 | 0 | 1.01 | 13.48 | 12.35 | 0 | 834.19 | -46.66 | 112.38 | 33.33 | -12.38 | 0 | 0.17 | 140.62 | 20.76 | -8.22 |
| 2020 (7) | -6.29 | 0 | -9.52 | 0 | 5.31 | -23.22 | -11.27 | 0 | -11.99 | 0 | -94.49 | 0 | -8.70 | 0 | 0.89 | 23.61 | -3.22 | 0 | 1563.96 | 209.39 | 84.29 | -5.22 | 15.71 | 41.9 | 0.07 | -50.28 | 22.62 | -3.66 |
| 2019 (6) | -17.29 | 0 | -24.76 | 0 | 6.92 | 25.34 | -27.88 | 0 | -28.63 | 0 | -132.85 | 0 | -18.51 | 0 | 0.72 | -20.0 | -17.20 | 0 | 505.50 | -12.76 | 88.93 | -11.07 | 11.07 | 0 | 0.14 | 0 | 23.48 | 17.69 |
| 2018 (5) | 2.96 | 1873.33 | -1.63 | 0 | 5.52 | -31.35 | -1.65 | 0 | -1.65 | 0 | -9.70 | 0 | 0.34 | 0 | 0.90 | 11.11 | 6.40 | 72.51 | 579.42 | 7.79 | 100.00 | 55.0 | -0.00 | 0 | 0.00 | 0 | 19.95 | -6.78 |
| 2017 (4) | 0.15 | 0 | -4.62 | 0 | 8.04 | -24.49 | -7.16 | 0 | -7.16 | 0 | -29.84 | 0 | -3.89 | 0 | 0.81 | 1.25 | 3.71 | 0 | 537.55 | 65.64 | 64.52 | -17.7 | 35.48 | 64.2 | 0.00 | 0 | 21.40 | -13.33 |
| 2016 (3) | -7.61 | 0 | -15.91 | 0 | 10.64 | -42.48 | -20.26 | 0 | -20.26 | 0 | -82.35 | 0 | -13.25 | 0 | 0.80 | 31.15 | -5.15 | 0 | 324.52 | -39.99 | 78.39 | -13.5 | 21.61 | 130.51 | 0.00 | 0 | 24.69 | -30.04 |
| 2015 (2) | -22.23 | 0 | -33.31 | 0 | 18.51 | -29.22 | -36.79 | 0 | -36.79 | 0 | -83.85 | 0 | -19.11 | 0 | 0.61 | 32.61 | -11.49 | 0 | 540.78 | 232.83 | 90.62 | -10.85 | 9.38 | 0 | 0.00 | 0 | 35.29 | -3.0 |
| 2014 (1) | -32.13 | 0 | -49.58 | 0 | 26.15 | -17.94 | -48.78 | 0 | -48.78 | 0 | -73.40 | 0 | -19.40 | 0 | 0.46 | 12.2 | -14.82 | 0 | 162.48 | -47.36 | 101.66 | 17.57 | -1.66 | 0 | 0.00 | 0 | 36.38 | 14.73 |
