- 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) | 15.66 | -26.1 | -5.09 | -5.43 | -236.78 | -12.66 | -14.82 | -207.0 | -30.11 | -12.46 | -199.36 | -54.98 | -2.34 | -182.98 | -75.94 | -1.56 | -178.39 | -108.0 | 0.13 | -18.75 | 30.0 | -3.91 | -117.29 | -394.94 | 46.76 | 2.7 | 7.3 | 35.71 | 26.37 | -13.69 | 61.90 | -13.71 | 5.6 | 43.28 | 20.22 | 56.08 |
| 23Q3 (19) | 21.19 | 54.11 | 119.13 | 3.97 | 168.57 | 139.04 | 13.85 | 856.83 | 1068.53 | 12.54 | 533.91 | 4080.0 | 2.82 | 603.57 | 4600.0 | 1.99 | 703.03 | 1558.33 | 0.16 | 23.08 | 45.45 | 22.62 | 168.65 | 202.0 | 45.53 | 5.79 | -40.19 | 28.26 | -91.69 | -96.35 | 71.74 | 132.61 | 110.63 | 36.00 | 0.53 | -10.09 |
| 23Q2 (18) | 13.75 | 211.79 | 8188.24 | -5.79 | 62.26 | 74.01 | -1.83 | 88.03 | 90.22 | -2.89 | 80.41 | 81.96 | -0.56 | 80.62 | 80.56 | -0.33 | 83.08 | 78.71 | 0.13 | -7.14 | 30.0 | 8.42 | 255.35 | 195.36 | 43.04 | -3.22 | -46.02 | 340.00 | 240.0 | 186.03 | -220.00 | 0 | -1066.0 | 35.81 | -6.96 | -14.29 |
| 23Q1 (17) | 4.41 | -73.27 | -64.2 | -15.34 | -218.26 | -199.61 | -15.29 | -34.24 | -51066.67 | -14.75 | -83.46 | -1261.42 | -2.89 | -117.29 | -1304.17 | -1.95 | -160.0 | -986.36 | 0.14 | 40.0 | 27.27 | -5.42 | -586.08 | -153.35 | 44.47 | 2.04 | -39.64 | 100.00 | 141.67 | 0 | -0.00 | -100.0 | 0 | 38.49 | 38.8 | -22.99 |
| 22Q4 (16) | 16.50 | 70.63 | 75.16 | -4.82 | 52.61 | 42.82 | -11.39 | -696.5 | -38.73 | -8.04 | -2780.0 | -64.42 | -1.33 | -2316.67 | -13.68 | -0.75 | -725.0 | -33.93 | 0.10 | -9.09 | -23.08 | -0.79 | -110.55 | 0 | 43.58 | -42.76 | -42.45 | 41.38 | -94.66 | -60.0 | 58.62 | 108.68 | 1800.0 | 27.73 | -30.74 | -38.68 |
| 22Q3 (15) | 9.67 | 5788.24 | -39.68 | -10.17 | 54.35 | -1296.47 | -1.43 | 92.36 | -466.67 | 0.30 | 101.87 | 136.59 | 0.06 | 102.08 | 123.08 | 0.12 | 107.74 | 340.0 | 0.11 | 10.0 | -31.25 | 7.49 | 184.82 | 11.29 | 76.13 | -4.52 | -14.31 | 775.00 | 551.98 | 287.5 | -675.00 | -3477.5 | -575.0 | 40.04 | -4.16 | 12.19 |
| 22Q2 (14) | -0.17 | -101.38 | -100.9 | -22.28 | -335.16 | -511.83 | -18.71 | -62466.67 | -7296.15 | -16.02 | -1361.42 | -8331.58 | -2.88 | -1300.0 | -4700.0 | -1.55 | -804.55 | -2683.33 | 0.10 | -9.09 | -33.33 | -8.83 | -186.91 | -228.53 | 79.73 | 8.23 | -17.88 | 118.87 | 0 | -94.83 | -18.87 | 0 | 99.14 | 41.78 | -16.41 | -3.58 |
| 22Q1 (13) | 12.32 | 30.79 | -36.85 | -5.12 | 39.26 | -176.65 | 0.03 | 100.37 | -99.55 | 1.27 | 125.97 | -75.29 | 0.24 | 120.51 | -86.59 | 0.22 | 139.29 | -78.0 | 0.11 | -15.38 | -38.89 | 10.16 | 0 | -15.05 | 73.67 | -2.72 | -26.99 | 0.00 | -100.0 | -100.0 | 0.00 | 100.0 | 0 | 49.98 | 10.53 | 21.61 |
| 21Q4 (12) | 9.42 | -41.24 | -48.94 | -8.43 | -1091.76 | -218.23 | -8.21 | -2205.13 | -239.63 | -4.89 | -496.34 | -175.81 | -1.17 | -350.0 | -143.17 | -0.56 | -1020.0 | -136.13 | 0.13 | -18.75 | -43.48 | 0.00 | -100.0 | -100.0 | 75.73 | -14.76 | -9.82 | 103.45 | -48.28 | -14.21 | -3.45 | 96.55 | 83.25 | 45.22 | 26.7 | 7.95 |
| 21Q3 (11) | 16.03 | -15.1 | -23.88 | 0.85 | -84.29 | -91.16 | 0.39 | 50.0 | -95.43 | -0.82 | -331.58 | -111.92 | -0.26 | -333.33 | -108.87 | -0.05 | -183.33 | -102.98 | 0.16 | 6.67 | -30.43 | 6.73 | -2.04 | -47.75 | 88.84 | -8.5 | 5.21 | 200.00 | -91.3 | 77.78 | -100.00 | 95.45 | -700.0 | 35.69 | -17.63 | 1.25 |
| 21Q2 (10) | 18.88 | -3.23 | -11.32 | 5.41 | -19.01 | -43.23 | 0.26 | -96.06 | -95.89 | -0.19 | -103.7 | -103.89 | -0.06 | -103.35 | -103.51 | 0.06 | -94.0 | -94.06 | 0.15 | -16.67 | -21.05 | 6.87 | -42.56 | -35.73 | 97.09 | -3.78 | 16.33 | 2300.00 | 2200.0 | 1397.67 | -2200.00 | 0 | -4300.0 | 43.33 | 5.43 | 0 |
| 21Q1 (9) | 19.51 | 5.75 | 100.1 | 6.68 | -6.31 | 141.26 | 6.60 | 12.24 | 143.82 | 5.14 | -20.31 | 131.0 | 1.79 | -33.95 | 168.32 | 1.00 | -35.48 | 171.43 | 0.18 | -21.74 | 100.0 | 11.96 | 12.51 | 268.21 | 100.90 | 20.15 | 25.28 | 100.00 | -17.07 | -5.88 | 0.00 | 100.0 | 100.0 | 41.10 | -1.89 | 0 |
| 20Q4 (8) | 18.45 | -12.39 | -11.93 | 7.13 | -25.88 | 2.59 | 5.88 | -31.15 | 92.79 | 6.45 | -6.25 | 116.44 | 2.71 | -7.51 | 165.69 | 1.55 | -7.74 | 134.85 | 0.23 | 0.0 | 9.52 | 10.63 | -17.47 | 92.92 | 83.98 | -0.54 | 9.39 | 120.59 | 7.19 | -48.84 | -20.59 | -64.71 | 83.99 | 41.89 | 18.84 | 4.05 |
| 20Q3 (7) | 21.06 | -1.08 | -9.34 | 9.62 | 0.94 | -16.49 | 8.54 | 34.91 | -31.68 | 6.88 | 40.98 | -27.5 | 2.93 | 71.35 | -22.49 | 1.68 | 66.34 | -32.8 | 0.23 | 21.05 | -11.54 | 12.88 | 20.49 | -8.98 | 84.44 | 1.17 | 64.25 | 112.50 | -26.74 | 21.57 | -12.50 | 75.0 | -267.5 | 35.25 | 0 | 3.65 |
| 20Q2 (6) | 21.29 | 118.36 | -16.21 | 9.53 | 158.86 | -28.35 | 6.33 | 142.03 | -57.2 | 4.88 | 129.43 | -57.79 | 1.71 | 165.27 | -64.23 | 1.01 | 172.14 | -69.76 | 0.19 | 111.11 | -34.48 | 10.69 | 250.35 | -33.35 | 83.46 | 3.63 | 58.52 | 153.57 | 44.54 | 69.95 | -50.00 | -700.0 | -618.75 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 9.75 | -53.46 | -57.48 | -16.19 | -332.95 | -267.08 | -15.06 | -593.77 | -260.73 | -16.58 | -656.38 | -327.75 | -2.62 | -356.86 | -211.49 | -1.40 | -312.12 | -181.4 | 0.09 | -57.14 | -62.5 | -7.11 | -229.04 | -164.75 | 80.54 | 4.91 | 135.98 | 106.25 | -54.92 | 3.72 | -6.25 | 95.14 | -156.25 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 20.95 | -9.81 | 0.0 | 6.95 | -39.67 | 0.0 | 3.05 | -75.6 | 0.0 | 2.98 | -68.6 | 0.0 | 1.02 | -73.02 | 0.0 | 0.66 | -73.6 | 0.0 | 0.21 | -19.23 | 0.0 | 5.51 | -61.06 | 0.0 | 76.77 | 49.33 | 0.0 | 235.71 | 154.72 | 0.0 | -128.57 | -1822.86 | 0.0 | 40.26 | 18.38 | 0.0 |
| 19Q3 (3) | 23.23 | -8.58 | 0.0 | 11.52 | -13.38 | 0.0 | 12.50 | -15.48 | 0.0 | 9.49 | -17.91 | 0.0 | 3.78 | -20.92 | 0.0 | 2.50 | -25.15 | 0.0 | 0.26 | -10.34 | 0.0 | 14.15 | -11.78 | 0.0 | 51.41 | -2.36 | 0.0 | 92.54 | 2.41 | 0.0 | 7.46 | -22.57 | 0.0 | 34.01 | -5.21 | 0.0 |
| 19Q2 (2) | 25.41 | 10.82 | 0.0 | 13.30 | 37.25 | 0.0 | 14.79 | 57.84 | 0.0 | 11.56 | 58.79 | 0.0 | 4.78 | 103.4 | 0.0 | 3.34 | 94.19 | 0.0 | 0.29 | 20.83 | 0.0 | 16.04 | 46.08 | 0.0 | 52.65 | 54.26 | 0.0 | 90.36 | -11.79 | 0.0 | 9.64 | 495.18 | 0.0 | 35.88 | 2.66 | 0.0 |
| 19Q1 (1) | 22.93 | 0.0 | 0.0 | 9.69 | 0.0 | 0.0 | 9.37 | 0.0 | 0.0 | 7.28 | 0.0 | 0.0 | 2.35 | 0.0 | 0.0 | 1.72 | 0.0 | 0.0 | 0.24 | 0.0 | 0.0 | 10.98 | 0.0 | 0.0 | 34.13 | 0.0 | 0.0 | 102.44 | 0.0 | 0.0 | -2.44 | 0.0 | 0.0 | 34.95 | 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) | 13.98 | 47.78 | -5.32 | 0 | 8.94 | 5.79 | -3.80 | 0 | -3.73 | 0 | -2.99 | 0 | -1.86 | 0 | 0.55 | 19.57 | 6.18 | 153.28 | 46.76 | 7.3 | 142.22 | 0.26 | -40.00 | 0 | 0.51 | -34.3 | 38.28 | -5.2 |
| 2022 (9) | 9.46 | -42.18 | -10.63 | 0 | 8.45 | 55.31 | -7.50 | 0 | -5.31 | 0 | -3.94 | 0 | -2.10 | 0 | 0.46 | -28.12 | 2.44 | -64.12 | 43.58 | -42.45 | 141.86 | -70.65 | -41.86 | 0 | 0.78 | 18.92 | 40.38 | -1.85 |
| 2021 (8) | 16.36 | -13.71 | 1.72 | -70.19 | 5.44 | 28.35 | 0.34 | -92.2 | 0.19 | -94.54 | 0.22 | -95.08 | 0.45 | -83.7 | 0.64 | -9.86 | 6.80 | -26.57 | 75.73 | -9.82 | 483.33 | 266.02 | -383.33 | 0 | 0.65 | -27.25 | 41.14 | 6.75 |
| 2020 (7) | 18.96 | -18.42 | 5.77 | -45.31 | 4.24 | 165.85 | 4.36 | -57.42 | 3.48 | -56.82 | 4.47 | -62.31 | 2.76 | -63.44 | 0.71 | -23.66 | 9.26 | -22.58 | 83.98 | 9.39 | 132.05 | 27.69 | -32.05 | 0 | 0.90 | 343.65 | 38.54 | 6.43 |
| 2019 (6) | 23.24 | -5.8 | 10.55 | 0.48 | 1.59 | 10.59 | 10.24 | -19.75 | 8.06 | -15.25 | 11.86 | -15.71 | 7.55 | -25.76 | 0.93 | -13.08 | 11.96 | -16.36 | 76.77 | 98.17 | 103.41 | 25.57 | -2.93 | 0 | 0.20 | 24.49 | 36.21 | 3.87 |
| 2018 (5) | 24.67 | -14.31 | 10.50 | -32.56 | 1.44 | -24.63 | 12.76 | -5.62 | 9.51 | -9.34 | 14.07 | -13.94 | 10.17 | -14.1 | 1.07 | -5.31 | 14.30 | -8.16 | 38.74 | 2.54 | 82.35 | -28.46 | 17.65 | 0 | 0.16 | 0 | 34.86 | -6.49 |
| 2017 (4) | 28.79 | 13.66 | 15.57 | 42.32 | 1.91 | -19.9 | 13.52 | 10.73 | 10.49 | 4.17 | 16.35 | 9.95 | 11.84 | 7.93 | 1.13 | 3.67 | 15.57 | 5.92 | 37.78 | -2.0 | 115.12 | 28.44 | -15.12 | 0 | 0.00 | 0 | 37.28 | -5.24 |
| 2016 (3) | 25.33 | 11.39 | 10.94 | 52.16 | 2.39 | -25.61 | 12.21 | 16.62 | 10.07 | 5.89 | 14.87 | 29.53 | 10.97 | 24.52 | 1.09 | 17.2 | 14.70 | 5.68 | 38.55 | 18.07 | 89.63 | 30.82 | 10.37 | -67.07 | 0.00 | 0 | 39.34 | -5.59 |
| 2015 (2) | 22.74 | 16.8 | 7.19 | 51.37 | 3.21 | -18.14 | 10.47 | 40.73 | 9.51 | 34.7 | 11.48 | 15.26 | 8.81 | 18.57 | 0.93 | -9.71 | 13.91 | 18.28 | 32.65 | 16.69 | 68.52 | 7.48 | 31.48 | -13.15 | 0.00 | 0 | 41.67 | 5.31 |
| 2014 (1) | 19.47 | 0 | 4.75 | 0 | 3.92 | 1.41 | 7.44 | 0 | 7.06 | 0 | 9.96 | 0 | 7.43 | 0 | 1.03 | -11.97 | 11.76 | -8.55 | 27.98 | -42.29 | 63.75 | -49.99 | 36.25 | 0 | 0.00 | 0 | 39.57 | 12.86 |
