- 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) | 20.53 | 70.37 | -21.85 | -39.95 | 40.16 | -356.05 | -54.90 | 22.64 | -439.29 | -47.27 | 18.23 | -421.17 | -6.21 | -15.21 | -334.27 | -3.07 | -11.64 | -372.31 | 0.07 | 40.0 | -30.0 | -22.37 | 24.98 | -502.34 | 86.99 | 6.21 | 32.16 | 73.81 | -20.36 | -9.79 | 26.19 | 436.9 | 44.05 | 41.31 | -5.62 | 102.4 |
| 23Q3 (19) | 12.05 | -60.62 | -39.11 | -66.76 | -376.86 | -905.42 | -70.97 | -641.59 | -1403.6 | -57.81 | -586.58 | -1193.29 | -5.39 | -287.77 | -648.61 | -2.75 | -400.0 | -1275.0 | 0.05 | -50.0 | -50.0 | -29.82 | -726.47 | -356.85 | 81.90 | 11.6 | 31.06 | 92.68 | -38.21 | -33.8 | 4.88 | 109.76 | 112.2 | 43.77 | 29.5 | 55.1 |
| 23Q2 (18) | 30.60 | 43.93 | 73.86 | -14.00 | 74.48 | 73.5 | -9.57 | 83.02 | 81.49 | -8.42 | 82.23 | 79.42 | -1.39 | 64.99 | 60.29 | -0.55 | 74.65 | 70.43 | 0.10 | 100.0 | 100.0 | 4.76 | 113.09 | 121.08 | 73.39 | 6.44 | 5.46 | 150.00 | 55.0 | 45.45 | -50.00 | -1650.0 | -1500.0 | 33.80 | -42.39 | -27.78 |
| 23Q1 (17) | 21.26 | -19.07 | 76.14 | -54.85 | -526.14 | 16.27 | -56.36 | -453.63 | 6.38 | -47.39 | -422.49 | 8.67 | -3.97 | -177.62 | 4.8 | -2.17 | -233.85 | 3.98 | 0.05 | -50.0 | 0.0 | -36.36 | -753.96 | -55.85 | 68.95 | 4.76 | 11.17 | 96.77 | 18.28 | -10.67 | 3.23 | -82.26 | 138.71 | 58.67 | 187.46 | 23.31 |
| 22Q4 (16) | 26.27 | 32.74 | -6.94 | -8.76 | -31.93 | -262.22 | -10.18 | -115.68 | -515.51 | -9.07 | -102.91 | -868.64 | -1.43 | -98.61 | -652.63 | -0.65 | -225.0 | -690.91 | 0.10 | 0.0 | -16.67 | 5.56 | -52.11 | -61.84 | 65.82 | 5.33 | -3.55 | 81.82 | -41.56 | -59.09 | 18.18 | 145.45 | 118.18 | 20.41 | -27.68 | 382.51 |
| 22Q3 (15) | 19.79 | 12.44 | -22.73 | -6.64 | 87.43 | -413.21 | -4.72 | 90.87 | -728.07 | -4.47 | 89.07 | -179.37 | -0.72 | 79.43 | -7300.0 | -0.20 | 89.25 | -186.96 | 0.10 | 100.0 | 0.0 | 11.61 | 151.42 | -21.18 | 62.49 | -10.2 | -14.33 | 140.00 | 35.76 | 146.67 | -40.00 | -1180.0 | -113.33 | 28.22 | -39.7 | -2.32 |
| 22Q2 (14) | 17.60 | 45.82 | -61.83 | -52.84 | 19.34 | -183.78 | -51.69 | 14.14 | -127.01 | -40.91 | 21.16 | -132.53 | -3.50 | 16.07 | -135.04 | -1.86 | 17.7 | -127.8 | 0.05 | 0.0 | 66.67 | -22.58 | 3.21 | -110.61 | 69.59 | 12.21 | -7.29 | 103.12 | -4.81 | 1114.06 | -3.12 | 62.5 | -102.88 | 46.80 | -1.64 | -39.99 |
| 22Q1 (13) | 12.07 | -57.24 | 129.47 | -65.51 | -1313.15 | -15.35 | -60.20 | -2557.14 | -501.4 | -51.89 | -4497.46 | -405.26 | -4.17 | -2094.74 | -583.61 | -2.26 | -2154.55 | -343.14 | 0.05 | -58.33 | 0.0 | -23.33 | -260.12 | 0 | 62.02 | -9.11 | 390.66 | 108.33 | -45.83 | -83.33 | -8.33 | 91.67 | 98.33 | 47.58 | 1024.82 | -20.27 |
| 21Q4 (12) | 28.23 | 10.23 | 185.44 | 5.40 | 154.72 | 121.59 | 2.45 | 529.82 | 170.0 | 1.18 | 173.75 | 118.27 | -0.19 | -2000.0 | 76.83 | 0.11 | -52.17 | 115.49 | 0.12 | 20.0 | 9.09 | 14.57 | -1.09 | 0 | 68.24 | -6.44 | 233.69 | 200.00 | 166.67 | -80.0 | -100.00 | -133.33 | 88.89 | 4.23 | -85.36 | -86.79 |
| 21Q3 (11) | 25.61 | -44.46 | 257.02 | 2.12 | 111.39 | 103.28 | -0.57 | -100.3 | 99.29 | -1.60 | -101.27 | 98.01 | 0.01 | -99.9 | 100.11 | 0.23 | -96.56 | 103.0 | 0.10 | 233.33 | 0.0 | 14.73 | -93.08 | 119.46 | 72.94 | -2.82 | 261.27 | -300.00 | -2850.0 | -462.5 | 300.00 | 176.56 | 1350.0 | 28.89 | -62.96 | 0 |
| 21Q2 (10) | 46.11 | 776.62 | 732.31 | -18.62 | 67.21 | 59.51 | 191.36 | 2011.69 | 483.33 | 125.78 | 1324.73 | 350.46 | 9.99 | 1737.7 | 256.58 | 6.69 | 1411.76 | 240.55 | 0.03 | -40.0 | -70.0 | 212.90 | 0 | 573.11 | 75.06 | 493.83 | 232.42 | -10.17 | -101.56 | -110.7 | 108.47 | 121.69 | 984.75 | 77.99 | 30.68 | 0 |
| 21Q1 (9) | 5.26 | -46.81 | 636.73 | -56.79 | -127.07 | -68.12 | -10.01 | -186.0 | 58.33 | -10.27 | -58.98 | 64.97 | -0.61 | 25.61 | 80.76 | -0.51 | 28.17 | 75.6 | 0.05 | -54.55 | -28.57 | 0.00 | 0 | 100.0 | 12.64 | -38.19 | -71.0 | 650.00 | -35.0 | 387.5 | -500.00 | 44.44 | -1025.0 | 59.68 | 86.38 | 30.16 |
| 20Q4 (8) | 9.89 | 160.64 | 1766.04 | -25.01 | 61.35 | -251.26 | -3.50 | 95.63 | 59.3 | -6.46 | 91.98 | 24.8 | -0.82 | 91.2 | 84.08 | -0.71 | 90.74 | 80.33 | 0.11 | 10.0 | -73.81 | 0.00 | 100.0 | 100.0 | 20.45 | 1.29 | -64.63 | 1000.00 | 1108.33 | 1087.5 | -900.00 | -4450.0 | -5800.0 | 32.02 | 0 | 42.44 |
| 20Q3 (7) | -16.31 | -394.4 | -258.35 | -64.71 | -40.7 | -3397.84 | -80.12 | -60.5 | -625.38 | -80.54 | -60.37 | -690.47 | -9.32 | -46.08 | -321.38 | -7.67 | -61.13 | -324.27 | 0.10 | 0.0 | -60.0 | -75.68 | -68.18 | -542.83 | 20.19 | -10.58 | -26.93 | 82.76 | -12.89 | 844.83 | 20.69 | 106.9 | -81.38 | 0.00 | 0 | -100.0 |
| 20Q2 (6) | 5.54 | 665.31 | 174.56 | -45.99 | -36.15 | -34.67 | -49.92 | -107.83 | -126.19 | -50.22 | -71.28 | -138.35 | -6.38 | -101.26 | -103.83 | -4.76 | -127.75 | -80.99 | 0.10 | 42.86 | -23.08 | -45.00 | -169.95 | -137.22 | 22.58 | -48.2 | 13.75 | 95.00 | -28.75 | -38.25 | 10.00 | 122.5 | 118.57 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | -0.98 | -284.91 | -110.12 | -33.78 | -374.44 | -69.32 | -24.02 | -179.3 | 32.32 | -29.32 | -241.33 | 28.49 | -3.17 | 38.45 | 0.0 | -2.09 | 42.11 | 24.0 | 0.07 | -83.33 | 0.0 | -16.67 | -115.65 | 42.58 | 43.59 | -24.61 | 159.31 | 133.33 | 58.33 | 144.44 | -44.44 | -381.48 | -197.78 | 45.85 | 103.96 | -16.29 |
| 19Q4 (4) | 0.53 | -94.85 | 0.0 | -7.12 | -284.86 | 0.0 | -8.60 | -156.39 | 0.0 | -8.59 | -162.98 | 0.0 | -5.15 | -222.33 | 0.0 | -3.61 | -205.56 | 0.0 | 0.42 | 68.0 | 0.0 | -7.73 | -145.23 | 0.0 | 57.82 | 109.27 | 0.0 | 84.21 | 857.89 | 0.0 | 15.79 | -85.79 | 0.0 | 22.48 | -24.49 | 0.0 |
| 19Q3 (3) | 10.30 | 238.63 | 0.0 | -1.85 | 94.58 | 0.0 | 15.25 | 169.1 | 0.0 | 13.64 | 164.74 | 0.0 | 4.21 | 234.5 | 0.0 | 3.42 | 230.04 | 0.0 | 0.25 | 92.31 | 0.0 | 17.09 | 190.09 | 0.0 | 27.63 | 39.19 | 0.0 | -11.11 | -107.22 | 0.0 | 111.11 | 306.35 | 0.0 | 29.77 | -47.5 | 0.0 |
| 19Q2 (2) | -7.43 | -176.76 | 0.0 | -34.15 | -71.18 | 0.0 | -22.07 | 37.81 | 0.0 | -21.07 | 48.61 | 0.0 | -3.13 | 1.26 | 0.0 | -2.63 | 4.36 | 0.0 | 0.13 | 85.71 | 0.0 | -18.97 | 34.65 | 0.0 | 19.85 | 18.08 | 0.0 | 153.85 | 182.05 | 0.0 | -53.85 | -218.46 | 0.0 | 56.70 | 3.52 | 0.0 |
| 19Q1 (1) | 9.68 | 0.0 | 0.0 | -19.95 | 0.0 | 0.0 | -35.49 | 0.0 | 0.0 | -41.00 | 0.0 | 0.0 | -3.17 | 0.0 | 0.0 | -2.75 | 0.0 | 0.0 | 0.07 | 0.0 | 0.0 | -29.03 | 0.0 | 0.0 | 16.81 | 0.0 | 0.0 | 54.55 | 0.0 | 0.0 | 45.45 | 0.0 | 0.0 | 54.77 | 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) | 22.60 | 12.61 | -38.74 | 0 | 15.02 | 16.72 | -42.16 | 0 | -35.51 | 0 | -16.93 | 0 | -8.60 | 0 | 0.27 | -6.9 | -16.72 | 0 | 86.99 | 32.16 | 91.94 | -12.2 | 8.06 | 0 | 28.57 | -3.38 | 42.39 | 30.31 |
| 2022 (9) | 20.07 | -26.59 | -26.02 | 0 | 12.87 | 42.81 | -24.70 | 0 | -20.85 | 0 | -10.00 | 0 | -5.01 | 0 | 0.29 | -29.27 | -2.63 | 0 | 65.82 | -3.55 | 104.71 | 0 | -5.88 | 0 | 29.57 | 7.99 | 32.53 | 34.09 |
| 2021 (8) | 27.34 | 0 | -2.22 | 0 | 9.01 | 96.91 | 17.86 | 0 | 10.82 | 0 | 10.34 | 0 | 7.52 | 0 | 0.41 | 24.24 | 32.43 | 0 | 68.24 | 233.69 | -11.86 | 0 | 113.56 | 0 | 27.38 | 0 | 24.26 | -52.01 |
| 2020 (7) | -0.10 | 0 | -42.13 | 0 | 4.58 | 177.78 | -38.96 | 0 | -41.16 | 0 | -18.89 | 0 | -13.44 | 0 | 0.33 | -61.18 | -33.99 | 0 | 20.45 | -64.63 | 106.67 | -39.39 | -8.33 | 0 | 0.00 | 0 | 50.55 | 60.73 |
| 2019 (6) | 2.81 | 0 | -10.25 | 0 | 1.65 | 64.71 | -5.78 | 0 | -6.48 | 0 | -7.34 | 0 | -5.44 | 0 | 0.85 | 286.36 | -3.76 | 0 | 57.82 | 380.63 | 176.00 | -29.6 | -76.00 | 0 | 0.00 | 0 | 31.45 | -16.18 |
| 2018 (5) | -7.84 | 0 | -45.44 | 0 | 1.00 | -97.86 | -17.67 | 0 | -18.86 | 0 | -4.58 | 0 | -4.10 | 0 | 0.22 | 15.79 | -17.00 | 0 | 12.03 | 1.69 | 250.00 | 168.58 | -155.56 | 0 | 0.00 | 0 | 37.52 | -23.04 |
| 2017 (4) | -101.91 | 0 | -138.69 | 0 | 46.73 | 38.87 | -149.13 | 0 | -149.04 | 0 | -31.24 | 0 | -27.82 | 0 | 0.19 | -24.0 | -100.93 | 0 | 11.83 | -6.11 | 93.08 | -16.47 | 6.92 | 0 | 0.00 | 0 | 48.75 | 0.16 |
| 2016 (3) | -118.57 | 0 | -147.99 | 0 | 33.65 | 75.4 | -132.94 | 0 | -128.79 | 0 | -35.91 | 0 | -31.70 | 0 | 0.25 | -26.47 | -98.58 | 0 | 12.60 | -8.3 | 111.43 | -3.31 | -11.43 | 0 | 0.00 | 0 | 48.67 | 20.14 |
| 2015 (2) | -38.21 | 0 | -61.67 | 0 | 19.18 | 190.68 | -53.50 | 0 | -49.85 | 0 | -19.03 | 0 | -16.77 | 0 | 0.34 | -54.05 | -33.81 | 0 | 13.74 | 3.15 | 115.25 | 14.25 | -15.25 | 0 | 0.00 | 0 | 40.51 | 77.99 |
| 2014 (1) | 20.21 | 0 | 11.60 | 0 | 6.60 | 25.18 | 11.49 | 0 | 7.36 | 0 | 6.40 | 0 | 5.47 | 0 | 0.74 | -22.11 | 18.30 | -26.15 | 13.32 | -37.99 | 100.87 | -5.57 | -0.87 | 0 | 0.00 | 0 | 22.76 | 0.93 |
