- 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) | 4.59 | 1.32 | 0.88 | -346.09 | -196.41 | -0.99 | -344.79 | 92.71 | -84.28 | -344.79 | 92.71 | -84.28 | -38.26 | 75.34 | -1913.68 | -26.21 | 81.65 | -1372.47 | 0.08 | 166.67 | 700.0 | -300.00 | 94.78 | -100.0 | 67.08 | 110.28 | 911.76 | 100.00 | 3733.33 | -40.0 | -0.00 | -100.0 | 100.0 | 286.17 | 70.72 | 44.5 |
| 23Q3 (19) | 4.53 | -2.58 | 37.27 | -116.76 | 57.63 | 54.74 | -4728.17 | -900.82 | -3589.17 | -4728.17 | -900.82 | -3589.17 | -155.13 | -2239.82 | -7934.85 | -142.87 | -2160.6 | -8081.56 | 0.03 | 200.0 | 200.0 | -5750.00 | -1177.78 | -2975.0 | 31.90 | 504.17 | 410.4 | 2.61 | -95.3 | 101.3 | 97.39 | 119.13 | -67.54 | 167.63 | -20.05 | -19.63 |
| 23Q2 (18) | 4.65 | 1.97 | 139.69 | -275.56 | -15.12 | -114.29 | -472.43 | 30.45 | -583.7 | -472.43 | 30.45 | -583.7 | -6.63 | 9.55 | -195.95 | -6.32 | 9.06 | -250.12 | 0.01 | 0.0 | -75.0 | -450.00 | 18.18 | -550.0 | 5.28 | 20.27 | -81.73 | 55.56 | 52.78 | 155.56 | 44.44 | -30.16 | -70.37 | 209.66 | 15.96 | -2.11 |
| 23Q1 (17) | 4.56 | 0.22 | -66.32 | -239.37 | 30.15 | 39.51 | -679.31 | -263.07 | -157.73 | -679.31 | -263.07 | -157.73 | -7.33 | -285.79 | 84.11 | -6.95 | -290.45 | 50.0 | 0.01 | 0.0 | -80.0 | -550.00 | -266.67 | -175.0 | 4.39 | -33.79 | -98.21 | 36.36 | -78.18 | -75.76 | 63.64 | 195.45 | 227.27 | 180.81 | -8.7 | -23.24 |
| 22Q4 (16) | 4.55 | 37.88 | -83.04 | -342.69 | -32.85 | 29.05 | -187.10 | -238.07 | 50.65 | -187.10 | -238.07 | 50.78 | -1.90 | -195.96 | 95.64 | -1.78 | -199.44 | 85.78 | 0.01 | 0.0 | -66.67 | -150.00 | -175.0 | 50.0 | 6.63 | 6.08 | -97.03 | 166.67 | 183.33 | 25.0 | -66.67 | -122.22 | -100.0 | 198.04 | -5.04 | -13.22 |
| 22Q3 (15) | 3.30 | 70.1 | -43.88 | -257.96 | -100.61 | -10.42 | 135.51 | 38.74 | 314.01 | 135.51 | 38.74 | 314.01 | 1.98 | -71.35 | 113.88 | 1.79 | -57.48 | 146.98 | 0.01 | -75.0 | -83.33 | 200.00 | 100.0 | 366.67 | 6.25 | -78.37 | -97.64 | -200.00 | -100.0 | -160.0 | 300.00 | 100.0 | 228.57 | 208.56 | -2.62 | 55.93 |
| 22Q2 (14) | 1.94 | -85.67 | 410.53 | -128.59 | 67.51 | 24.57 | 97.67 | 137.06 | 196.25 | 97.67 | 137.06 | 196.25 | 6.91 | 114.98 | 120.57 | 4.21 | 130.29 | 139.05 | 0.04 | -20.0 | -63.64 | 100.00 | 150.0 | 200.0 | 28.90 | -88.18 | -89.79 | -100.00 | -166.67 | -161.54 | 150.00 | 400.0 | 340.0 | 214.17 | -9.08 | 41.17 |
| 22Q1 (13) | 13.54 | -49.53 | 38.02 | -395.74 | 18.06 | -272.08 | -263.57 | 30.48 | -204.18 | -263.57 | 30.66 | -203.69 | -46.12 | -5.73 | -1.92 | -13.90 | -11.02 | 26.42 | 0.05 | 66.67 | -77.27 | -200.00 | 33.33 | -137.5 | 244.60 | 9.5 | 51.74 | 150.00 | 12.5 | 20.0 | -50.00 | -50.0 | -100.0 | 235.55 | 3.22 | 514.85 |
| 21Q4 (12) | 26.83 | 356.29 | 901.12 | -482.98 | -106.75 | -946.77 | -379.13 | -498.75 | -477.33 | -380.12 | -500.32 | -478.83 | -43.62 | -205.68 | 0.95 | -12.52 | -228.61 | 38.29 | 0.03 | -50.0 | -90.32 | -300.00 | -300.0 | -395.62 | 223.37 | -15.62 | 78.23 | 133.33 | -60.0 | 96.08 | -33.33 | 85.71 | -219.05 | 228.20 | 70.62 | 1288.92 |
| 21Q3 (11) | 5.88 | 1447.37 | 2060.0 | -233.61 | -37.04 | -322.82 | -63.32 | 37.6 | -40.99 | -63.32 | 37.6 | -40.99 | -14.27 | 57.53 | 18.27 | -3.81 | 64.66 | 57.33 | 0.06 | -45.45 | -70.0 | -75.00 | 25.0 | -97.73 | 264.73 | -6.47 | 138.22 | 333.33 | 105.13 | 170.83 | -233.33 | -273.33 | -911.11 | 133.75 | -11.84 | 490.77 |
| 21Q2 (10) | 0.38 | -96.13 | -74.5 | -170.47 | -60.28 | -127.87 | -101.48 | -17.11 | -1523.68 | -101.48 | -16.93 | -1523.68 | -33.60 | 25.75 | -1668.42 | -10.78 | 42.93 | -1059.14 | 0.11 | -50.0 | -26.67 | -100.00 | -18.75 | 0 | 283.03 | 75.58 | 248.26 | 162.50 | 30.0 | -81.94 | -62.50 | -150.0 | 92.65 | 151.71 | 296.01 | 0 |
| 21Q1 (9) | 9.81 | 266.04 | 1432.81 | -106.36 | -130.52 | 7.08 | -86.65 | -31.95 | -39.47 | -86.79 | -32.16 | -39.69 | -45.25 | -2.75 | -168.39 | -18.89 | 6.9 | -130.65 | 0.22 | -29.03 | 69.23 | -84.21 | -39.12 | -55.46 | 161.20 | 28.62 | 38.16 | 125.00 | 83.82 | -33.04 | -25.00 | -189.29 | 71.15 | 38.31 | 133.17 | 0 |
| 20Q4 (8) | 2.68 | 993.33 | -63.93 | -46.14 | 16.49 | 50.78 | -65.67 | -46.23 | 31.02 | -65.67 | -46.23 | 31.02 | -44.04 | -152.23 | -33.9 | -20.29 | -127.21 | -9.68 | 0.31 | 55.0 | 63.16 | -60.53 | -59.58 | 32.74 | 125.33 | 12.78 | 31.19 | 68.00 | -44.75 | -32.0 | 28.00 | 221.33 | 964.0 | 16.43 | -27.43 | -23.86 |
| 20Q3 (7) | -0.30 | -120.13 | -131.91 | -55.25 | 26.15 | 36.26 | -44.91 | -618.56 | 60.77 | -44.91 | -618.56 | 60.47 | -17.46 | -818.95 | 44.96 | -8.93 | -860.22 | 56.76 | 0.20 | 33.33 | 11.11 | -37.93 | 0 | 64.39 | 111.13 | 36.74 | 71.1 | 123.08 | -86.32 | 63.08 | -23.08 | 97.29 | -194.08 | 22.64 | 0 | 406.78 |
| 20Q2 (6) | 1.49 | 132.81 | -89.49 | -74.81 | 34.64 | 1.19 | -6.25 | 89.94 | 91.77 | -6.25 | 89.94 | 91.77 | -1.90 | 88.73 | 86.96 | -0.93 | 88.64 | 91.05 | 0.15 | 15.38 | 7.14 | 0.00 | 100.0 | 100.0 | 81.27 | -30.35 | 78.58 | 900.00 | 382.14 | 800.0 | -850.00 | -880.77 | 0 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 0.64 | -91.39 | -90.88 | -114.46 | -22.1 | -109.29 | -62.13 | 34.74 | -14.13 | -62.13 | 34.74 | -27.26 | -16.86 | 48.74 | -38.2 | -8.19 | 55.73 | 11.17 | 0.13 | -31.58 | -31.58 | -54.17 | 39.81 | -14.14 | 116.68 | 22.14 | 229.79 | 186.67 | 86.67 | 86.67 | -86.67 | -3393.33 | 0 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 7.43 | 690.43 | 0.0 | -93.74 | -8.14 | 0.0 | -95.20 | 16.85 | 0.0 | -95.20 | 16.21 | 0.0 | -32.89 | -3.69 | 0.0 | -18.50 | 10.41 | 0.0 | 0.19 | 5.56 | 0.0 | -90.00 | 15.51 | 0.0 | 95.53 | 47.08 | 0.0 | 100.00 | 32.5 | 0.0 | 2.63 | -89.27 | 0.0 | 21.58 | 392.41 | 0.0 |
| 19Q3 (3) | 0.94 | -93.37 | 0.0 | -86.68 | -14.49 | 0.0 | -114.49 | -50.76 | 0.0 | -113.62 | -49.62 | 0.0 | -31.72 | -117.71 | 0.0 | -20.65 | -98.75 | 0.0 | 0.18 | 28.57 | 0.0 | -106.52 | -57.81 | 0.0 | 64.95 | 42.72 | 0.0 | 75.47 | -24.53 | 0.0 | 24.53 | 0 | 0.0 | -7.38 | -113.17 | 0.0 |
| 19Q2 (2) | 14.18 | 101.99 | 0.0 | -75.71 | -38.43 | 0.0 | -75.94 | -39.49 | 0.0 | -75.94 | -55.55 | 0.0 | -14.57 | -19.43 | 0.0 | -10.39 | -12.69 | 0.0 | 0.14 | -26.32 | 0.0 | -67.50 | -42.23 | 0.0 | 45.51 | 28.63 | 0.0 | 100.00 | 0.0 | 0.0 | 0.00 | 0 | 0.0 | 56.03 | 252.39 | 0.0 |
| 19Q1 (1) | 7.02 | 0.0 | 0.0 | -54.69 | 0.0 | 0.0 | -54.44 | 0.0 | 0.0 | -48.82 | 0.0 | 0.0 | -12.20 | 0.0 | 0.0 | -9.22 | 0.0 | 0.0 | 0.19 | 0.0 | 0.0 | -47.46 | 0.0 | 0.0 | 35.38 | 0.0 | 0.0 | 100.00 | 0.0 | 0.0 | -0.00 | 0.0 | 0.0 | 15.90 | 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) | 4.58 | -22.9 | -233.21 | 0 | 0.00 | 0 | -1839.49 | 0 | -1839.49 | 0 | -169.93 | 0 | -152.93 | 0 | 0.08 | 33.33 | -1762.50 | 0 | 67.08 | 911.76 | 12.77 | -97.0 | 87.23 | 0 | 0.00 | 0 | 207.28 | -3.26 |
| 2022 (9) | 5.94 | -24.43 | -282.97 | 0 | 0.00 | 0 | -60.53 | 0 | -60.53 | 0 | -4.53 | 0 | -3.74 | 0 | 0.06 | -87.5 | -66.67 | 0 | 6.63 | -97.03 | 425.00 | 175.0 | -350.00 | 0 | 0.00 | 0 | 214.27 | 145.36 |
| 2021 (8) | 7.86 | 523.81 | -156.71 | 0 | 0.00 | 0 | -101.75 | 0 | -101.88 | 0 | -119.19 | 0 | -48.64 | 0 | 0.48 | -39.24 | -100.00 | 0 | 223.37 | 78.23 | 154.55 | 5.64 | -54.55 | 0 | 0.00 | 0 | 87.33 | 318.65 |
| 2020 (7) | 1.26 | -82.4 | -68.83 | 0 | 2.61 | 61.74 | -47.13 | 0 | -47.13 | 0 | -76.61 | 0 | -37.28 | 0 | 0.79 | 8.22 | -40.87 | 0 | 125.33 | 31.19 | 146.30 | 59.78 | -46.30 | 0 | 0.00 | 0 | 20.86 | 3.83 |
| 2019 (6) | 7.16 | 160.36 | -75.62 | 0 | 1.61 | 0 | -82.79 | 0 | -80.78 | 0 | -87.42 | 0 | -59.11 | 0 | 0.73 | 87.18 | -75.81 | 0 | 95.53 | 228.62 | 91.56 | 7.25 | 8.44 | -43.88 | 6.35 | -11.94 | 20.09 | 0.45 |
| 2018 (5) | 2.75 | 0 | -99.78 | 0 | 0.00 | 0 | -117.21 | 0 | -111.26 | 0 | -51.18 | 0 | -43.01 | 0 | 0.39 | 25.81 | -111.90 | 0 | 29.07 | 90.5 | 85.37 | 6.99 | 15.04 | -25.6 | 7.21 | 0 | 20.00 | 73.16 |
| 2017 (4) | -6.26 | 0 | -119.57 | 0 | 0.00 | 0 | -149.80 | 0 | -140.85 | 0 | -49.00 | 0 | -43.15 | 0 | 0.31 | -22.5 | -138.06 | 0 | 15.26 | 21.79 | 79.78 | -28.3 | 20.22 | 0 | 0.00 | 0 | 11.55 | 5.1 |
| 2016 (3) | -10.18 | 0 | -49.21 | 0 | 0.00 | 0 | -44.25 | 0 | -36.93 | 0 | -17.16 | 0 | -14.66 | 0 | 0.40 | -27.27 | -38.37 | 0 | 12.53 | -34.16 | 111.28 | 6576.69 | -11.28 | 0 | 0.00 | 0 | 10.99 | 108.14 |
| 2015 (2) | 24.21 | -32.68 | 0.12 | -99.43 | 0.00 | 0 | 6.42 | -70.62 | 6.62 | -51.14 | 4.19 | -59.63 | 3.65 | -59.4 | 0.55 | -16.67 | 9.98 | -58.98 | 19.03 | 81.07 | 1.67 | -98.26 | 98.33 | 2198.54 | 0.00 | 0 | 5.28 | 19.46 |
| 2014 (1) | 35.96 | 0 | 20.89 | 0 | 0.12 | 0 | 21.85 | 0 | 13.55 | 0 | 10.38 | 0 | 8.99 | 0 | 0.66 | -39.45 | 24.33 | -32.83 | 10.51 | -59.17 | 95.72 | 32.54 | 4.28 | -84.6 | 0.00 | 0 | 4.42 | 15.1 |
