- 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) | 1.09 | -83.63 | 489.29 | -6.42 | -1067.27 | 35.09 | -8.57 | -275.61 | 46.17 | -7.16 | -258.06 | 44.92 | -1.33 | -251.14 | 40.09 | -0.68 | -213.33 | 35.85 | 0.11 | 0.0 | 22.22 | 17.95 | -39.4 | 50.84 | 68.08 | -12.48 | -27.68 | 75.00 | 725.0 | 19.64 | 25.00 | -76.85 | -33.0 | 15.99 | -4.59 | -12.05 |
| 23Q3 (19) | 6.66 | 56.34 | 221.53 | -0.55 | 86.25 | 97.03 | 4.88 | -48.63 | 1020.75 | 4.53 | -44.0 | 8960.0 | 0.88 | -33.33 | 8700.0 | 0.60 | -29.41 | 566.67 | 0.11 | 22.22 | 37.5 | 29.62 | -21.24 | 3.97 | 77.79 | 2.63 | -11.89 | -12.00 | 72.0 | -100.36 | 108.00 | -24.4 | 103.32 | 16.76 | -12.62 | -25.48 |
| 23Q2 (18) | 4.26 | 180.53 | -78.8 | -4.00 | 72.6 | -138.65 | 9.50 | 233.61 | -31.01 | 8.09 | 259.57 | -22.29 | 1.32 | 294.12 | -51.47 | 0.85 | 426.92 | -43.33 | 0.09 | 28.57 | -35.71 | 37.61 | 31.64 | 30.14 | 75.80 | -1.3 | -21.19 | -42.86 | -121.01 | -157.14 | 142.86 | 237.36 | 471.43 | 19.18 | -5.98 | 12.49 |
| 23Q1 (17) | -5.29 | -1789.29 | -132.74 | -14.60 | -47.62 | -319.55 | -7.11 | 55.34 | -165.77 | -5.07 | 61.0 | -157.88 | -0.68 | 69.37 | -134.69 | -0.26 | 75.47 | -122.41 | 0.07 | -22.22 | -41.67 | 28.57 | 140.08 | 3.29 | 76.80 | -18.42 | -7.98 | 204.00 | 225.43 | 230.29 | -104.00 | -378.72 | -372.0 | 20.40 | 12.21 | 11.9 |
| 22Q4 (16) | -0.28 | 94.89 | -101.66 | -9.89 | 46.51 | -220.61 | -15.92 | -2903.77 | -295.58 | -13.00 | -26100.0 | -300.0 | -2.22 | -22300.0 | -241.4 | -1.06 | -1277.78 | -211.58 | 0.09 | 12.5 | -35.71 | 11.90 | -58.23 | -49.36 | 94.14 | 6.63 | 26.19 | 62.69 | -98.13 | -37.31 | 37.31 | 101.15 | 0 | 18.18 | -19.16 | 6.44 |
| 22Q3 (15) | -5.48 | -127.28 | -122.59 | -18.49 | -278.65 | -211.39 | -0.53 | -103.85 | -102.79 | 0.05 | -99.52 | -99.68 | 0.01 | -99.63 | -99.81 | 0.09 | -94.0 | -96.74 | 0.08 | -42.86 | -52.94 | 28.49 | -1.42 | -8.63 | 88.29 | -8.2 | 7.88 | 3350.00 | 4366.67 | 3742.65 | -3250.00 | -13100.0 | -26784.21 | 22.49 | 31.91 | 39.69 |
| 22Q2 (14) | 20.09 | 24.32 | -17.8 | 10.35 | 55.64 | -37.65 | 13.77 | 27.38 | -18.76 | 10.41 | 18.84 | -27.86 | 2.72 | 38.78 | -44.03 | 1.50 | 29.31 | -41.86 | 0.14 | 16.67 | -17.65 | 28.90 | 4.48 | -0.14 | 96.18 | 15.24 | -5.91 | 75.00 | 21.43 | -23.35 | 25.00 | -34.62 | 1058.33 | 17.05 | -6.47 | 2.34 |
| 22Q1 (13) | 16.16 | -4.09 | 27.24 | 6.65 | -18.9 | 33.8 | 10.81 | 32.8 | 77.5 | 8.76 | 34.77 | 74.5 | 1.96 | 24.84 | 30.67 | 1.16 | 22.11 | 31.82 | 0.12 | -14.29 | -25.0 | 27.66 | 17.7 | 49.19 | 83.46 | 11.88 | -2.44 | 61.76 | -38.24 | -24.12 | 38.24 | 0 | 105.51 | 18.23 | 6.73 | -0.16 |
| 21Q4 (12) | 16.85 | -30.54 | 48.33 | 8.20 | -50.6 | 110.26 | 8.14 | -57.11 | 174.07 | 6.50 | -58.36 | 174.26 | 1.57 | -69.51 | 134.33 | 0.95 | -65.58 | 126.19 | 0.14 | -17.65 | -6.67 | 23.50 | -24.63 | 38.72 | 74.60 | -8.85 | -15.02 | 100.00 | 14.71 | -25.0 | 0.00 | -100.0 | 100.0 | 17.08 | 6.09 | -7.17 |
| 21Q3 (11) | 24.26 | -0.74 | 39.83 | 16.60 | 0.0 | 79.65 | 18.98 | 11.98 | 91.72 | 15.61 | 8.18 | 86.5 | 5.15 | 5.97 | 80.7 | 2.76 | 6.98 | 80.39 | 0.17 | 0.0 | 0.0 | 31.18 | 7.74 | 42.11 | 81.84 | -19.94 | -19.03 | 87.18 | -10.9 | -7.54 | 12.18 | 464.32 | 70.51 | 16.10 | -3.36 | -5.18 |
| 21Q2 (10) | 24.44 | 92.44 | 25.2 | 16.60 | 234.0 | 34.74 | 16.95 | 178.33 | 46.88 | 14.43 | 187.45 | 74.07 | 4.86 | 224.0 | 69.34 | 2.58 | 193.18 | 56.36 | 0.17 | 6.25 | -10.53 | 28.94 | 56.09 | 27.1 | 102.22 | 19.49 | 12.64 | 97.84 | 20.21 | -8.47 | 2.16 | -88.4 | 131.29 | 16.66 | -8.76 | -0.42 |
| 21Q1 (9) | 12.70 | 11.8 | 88.43 | 4.97 | 27.44 | 4870.0 | 6.09 | 105.05 | 149.59 | 5.02 | 111.81 | 137.91 | 1.50 | 123.88 | 177.78 | 0.88 | 109.52 | 109.52 | 0.16 | 6.67 | 6.67 | 18.54 | 9.45 | 9.19 | 85.55 | -2.55 | 15.76 | 81.40 | -38.95 | 1039.53 | 18.60 | 155.81 | -79.96 | 18.26 | -0.76 | -6.5 |
| 20Q4 (8) | 11.36 | -34.52 | -46.62 | 3.90 | -57.79 | -71.72 | 2.97 | -70.0 | -75.74 | 2.37 | -71.68 | -77.03 | 0.67 | -76.49 | -78.59 | 0.42 | -72.55 | -79.51 | 0.15 | -11.76 | -21.05 | 16.94 | -22.79 | -29.83 | 87.79 | -13.14 | 27.99 | 133.33 | 41.41 | 17.56 | -33.33 | -566.67 | -173.33 | 18.40 | 8.36 | -0.16 |
| 20Q3 (7) | 17.35 | -11.12 | -44.27 | 9.24 | -25.0 | -60.46 | 9.90 | -14.21 | -61.42 | 8.37 | 0.97 | -59.25 | 2.85 | -0.7 | -64.68 | 1.53 | -7.27 | -70.86 | 0.17 | -10.53 | -32.0 | 21.94 | -3.65 | -37.04 | 101.07 | 11.37 | 82.83 | 94.29 | -11.8 | 3.71 | 7.14 | 203.57 | -21.43 | 16.98 | 1.49 | 2.29 |
| 20Q2 (6) | 19.52 | 189.61 | -40.4 | 12.32 | 12220.0 | -51.36 | 11.54 | 372.95 | -53.99 | 8.29 | 292.89 | -58.67 | 2.87 | 431.48 | -64.17 | 1.65 | 292.86 | -68.93 | 0.19 | 26.67 | -26.92 | 22.77 | 34.1 | -32.61 | 90.75 | 22.8 | 47.39 | 106.90 | 1396.55 | 5.84 | -6.90 | -107.43 | -589.66 | 16.73 | -14.34 | 5.89 |
| 20Q1 (5) | 6.74 | -68.33 | -77.03 | 0.10 | -99.27 | -99.54 | 2.44 | -80.07 | -88.84 | 2.11 | -79.55 | -87.88 | 0.54 | -82.75 | -91.72 | 0.42 | -79.51 | -90.73 | 0.15 | -21.05 | -40.0 | 16.98 | -29.66 | -45.49 | 73.90 | 7.74 | 50.88 | 7.14 | -93.7 | -92.81 | 92.86 | 861.43 | 7328.57 | 19.53 | 5.97 | 18.65 |
| 19Q4 (4) | 21.28 | -31.64 | 0.0 | 13.79 | -40.99 | 0.0 | 12.24 | -52.3 | 0.0 | 10.32 | -49.76 | 0.0 | 3.13 | -61.21 | 0.0 | 2.05 | -60.95 | 0.0 | 0.19 | -24.0 | 0.0 | 24.14 | -30.73 | 0.0 | 68.59 | 24.08 | 0.0 | 113.41 | 24.76 | 0.0 | -12.20 | -234.15 | 0.0 | 18.43 | 11.02 | 0.0 |
| 19Q3 (3) | 31.13 | -4.95 | 0.0 | 23.37 | -7.74 | 0.0 | 25.66 | 2.31 | 0.0 | 20.54 | 2.39 | 0.0 | 8.07 | 0.75 | 0.0 | 5.25 | -1.13 | 0.0 | 0.25 | -3.85 | 0.0 | 34.85 | 3.14 | 0.0 | 55.28 | -10.22 | 0.0 | 90.91 | -9.99 | 0.0 | 9.09 | 1009.09 | 0.0 | 16.60 | 5.06 | 0.0 |
| 19Q2 (2) | 32.75 | 11.62 | 0.0 | 25.33 | 16.89 | 0.0 | 25.08 | 14.68 | 0.0 | 20.06 | 15.22 | 0.0 | 8.01 | 22.85 | 0.0 | 5.31 | 17.22 | 0.0 | 0.26 | 4.0 | 0.0 | 33.79 | 8.48 | 0.0 | 61.57 | 25.7 | 0.0 | 101.00 | 1.64 | 0.0 | -1.00 | -180.0 | 0.0 | 15.80 | -4.01 | 0.0 |
| 19Q1 (1) | 29.34 | 0.0 | 0.0 | 21.67 | 0.0 | 0.0 | 21.87 | 0.0 | 0.0 | 17.41 | 0.0 | 0.0 | 6.52 | 0.0 | 0.0 | 4.53 | 0.0 | 0.0 | 0.25 | 0.0 | 0.0 | 31.15 | 0.0 | 0.0 | 48.98 | 0.0 | 0.0 | 99.38 | 0.0 | 0.0 | 1.25 | 0.0 | 0.0 | 16.46 | 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) | 2.21 | -78.87 | -5.76 | 0 | 25.21 | 38.73 | 0.10 | -97.79 | 0.42 | -87.9 | 0.30 | -89.29 | 0.58 | -68.98 | 0.39 | -11.36 | 28.39 | 13.2 | 68.08 | -27.68 | -5100.00 | 0 | 5150.00 | 5336.11 | 0.00 | 0 | 17.89 | -3.66 |
| 2022 (9) | 10.46 | -47.6 | 0.24 | -98.0 | 18.17 | 60.04 | 4.52 | -65.28 | 3.47 | -67.87 | 2.80 | -78.12 | 1.87 | -74.66 | 0.44 | -33.33 | 25.08 | -2.94 | 94.14 | 26.19 | 5.26 | -94.3 | 94.74 | 1134.74 | 0.00 | 0 | 18.57 | 9.36 |
| 2021 (8) | 19.96 | 39.87 | 12.02 | 74.2 | 11.36 | 8.9 | 13.02 | 82.1 | 10.80 | 92.86 | 12.80 | 95.12 | 7.38 | 84.04 | 0.66 | 0.0 | 25.84 | 29.33 | 74.60 | -15.02 | 92.33 | -4.65 | 7.67 | 107.16 | 0.00 | 0 | 16.98 | -4.55 |
| 2020 (7) | 14.27 | -50.67 | 6.90 | -67.68 | 10.43 | 48.39 | 7.15 | -66.9 | 5.60 | -67.78 | 6.56 | -74.09 | 4.01 | -75.56 | 0.66 | -27.47 | 19.98 | -36.15 | 87.79 | 27.99 | 96.83 | -1.97 | 3.70 | 201.85 | 0.00 | 0 | 17.79 | 6.15 |
| 2019 (6) | 28.93 | 41.19 | 21.35 | 73.86 | 7.03 | -10.14 | 21.60 | 69.15 | 17.38 | 52.86 | 25.32 | 107.2 | 16.41 | 74.2 | 0.91 | 13.75 | 31.29 | 36.4 | 68.59 | 40.27 | 98.77 | 2.94 | 1.23 | -69.69 | 0.03 | -87.71 | 16.76 | -10.23 |
| 2018 (5) | 20.49 | 102.87 | 12.28 | 752.78 | 7.82 | -44.38 | 12.77 | 1926.98 | 11.37 | 3345.45 | 12.22 | 4425.93 | 9.42 | 2754.55 | 0.80 | 14.29 | 22.94 | 33.68 | 48.90 | 182.33 | 95.95 | -59.6 | 4.05 | 0 | 0.21 | 0 | 18.67 | -11.39 |
| 2017 (4) | 10.10 | -51.16 | 1.44 | -87.02 | 14.06 | 24.74 | 0.63 | -93.67 | 0.33 | -95.96 | 0.27 | -97.1 | 0.33 | -95.85 | 0.70 | -27.84 | 17.16 | -24.87 | 17.32 | 0.87 | 237.50 | 113.11 | -137.50 | 0 | 0.00 | 0 | 21.07 | 18.24 |
| 2016 (3) | 20.68 | -19.84 | 11.09 | -38.8 | 11.27 | -32.97 | 9.95 | -48.87 | 8.17 | -54.36 | 9.30 | -65.01 | 7.95 | -58.91 | 0.97 | -9.35 | 22.84 | -38.83 | 17.17 | -6.84 | 111.45 | 19.57 | -11.45 | 0 | 0.00 | 0 | 17.82 | 2.89 |
| 2015 (2) | 25.80 | 184.77 | 18.12 | 416.24 | 16.81 | -12.75 | 19.46 | 363.33 | 17.90 | 234.58 | 26.58 | 94.87 | 19.35 | 200.93 | 1.07 | 0.0 | 37.34 | 51.91 | 18.43 | -76.49 | 93.20 | 12.27 | 6.80 | -59.98 | 0.00 | 0 | 17.32 | -2.09 |
| 2014 (1) | 9.06 | 0 | 3.51 | 0 | 19.27 | -0.99 | 4.20 | 0 | 5.35 | 0 | 13.64 | 0 | 6.43 | 0 | 1.07 | 17.58 | 24.58 | 7.81 | 78.38 | -74.17 | 83.02 | 0 | 16.98 | -84.79 | 0.00 | 0 | 17.69 | 1.38 |
