- 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) | 0.35 | -89.97 | 104.05 | -23.61 | -50.1 | 24.59 | -34.13 | -82.32 | 4.69 | -34.30 | -84.81 | 5.07 | -11.92 | -65.56 | -22.13 | -3.84 | -69.16 | -1.05 | 0.12 | -14.29 | 9.09 | -19.16 | -238.52 | 23.08 | 193.06 | 11.01 | 39.38 | 69.66 | -16.4 | -19.68 | 30.34 | 82.02 | 147.75 | 16.48 | -6.58 | -16.05 |
| 23Q3 (19) | 3.49 | -20.86 | -71.65 | -15.73 | 12.42 | -68.06 | -18.72 | -21.01 | 4.25 | -18.56 | -23.82 | 4.97 | -7.20 | -41.73 | -46.64 | -2.27 | -39.26 | -28.25 | 0.14 | 7.69 | 27.27 | -5.66 | -139.83 | -10.76 | 173.92 | 7.05 | 30.13 | 83.33 | -27.67 | 73.08 | 16.67 | 209.52 | -67.86 | 17.64 | -5.67 | -8.36 |
| 23Q2 (18) | 4.41 | -24.62 | 1937.5 | -17.96 | -41.75 | -8.26 | -15.47 | -9.1 | -47.9 | -14.99 | 2.98 | -52.65 | -5.08 | -1.6 | -68.21 | -1.63 | 3.55 | -79.12 | 0.13 | 0.0 | 0.0 | -2.36 | -78.79 | -265.03 | 162.46 | 7.23 | 12.94 | 115.22 | 30.38 | -26.5 | -15.22 | -230.87 | 73.19 | 18.70 | 7.91 | -12.86 |
| 23Q1 (17) | 5.85 | 167.63 | 38.63 | -12.67 | 59.53 | 9.18 | -14.18 | 60.4 | 3.27 | -15.45 | 57.24 | 1.4 | -5.00 | 48.77 | -14.94 | -1.69 | 55.53 | -10.46 | 0.13 | 18.18 | 18.18 | -1.32 | 94.7 | 52.52 | 151.50 | 9.38 | 7.02 | 88.37 | 1.89 | -5.74 | 11.63 | -5.04 | 179.07 | 17.33 | -11.72 | -20.65 |
| 22Q4 (16) | -8.65 | -170.27 | -251.49 | -31.31 | -234.51 | -176.1 | -35.81 | -83.17 | -102.77 | -36.13 | -85.0 | -118.7 | -9.76 | -98.78 | -37.46 | -3.80 | -114.69 | -41.26 | 0.11 | 0.0 | -38.89 | -24.91 | -387.48 | -145.42 | 138.51 | 3.64 | -4.71 | 86.73 | 80.14 | 35.25 | 12.24 | -76.38 | -65.86 | 19.63 | 1.97 | 41.32 |
| 22Q3 (15) | 12.31 | 5229.17 | 72.17 | -9.36 | 43.58 | 0.85 | -19.55 | -86.9 | -62.38 | -19.53 | -98.88 | -56.62 | -4.91 | -62.58 | -12.61 | -1.77 | -94.51 | -12.74 | 0.11 | -15.38 | -26.67 | -5.11 | -457.34 | -75.6 | 133.65 | -7.08 | -2.22 | 48.15 | -69.28 | -38.1 | 51.85 | 191.36 | 133.33 | 19.25 | -10.3 | 28.42 |
| 22Q2 (14) | -0.24 | -105.69 | -101.3 | -16.59 | -18.92 | -452.23 | -10.46 | 28.65 | -502.31 | -9.82 | 37.33 | -759.06 | -3.02 | 30.57 | -537.68 | -0.91 | 40.52 | -268.52 | 0.13 | 18.18 | -35.0 | 1.43 | 151.44 | -85.14 | 143.84 | 1.61 | 5.66 | 156.76 | 67.21 | -10.42 | -56.76 | -1462.16 | 30.15 | 21.46 | -1.74 | 68.45 |
| 22Q1 (13) | 4.22 | -26.09 | -28.72 | -13.95 | -23.02 | -70.96 | -14.66 | 16.99 | -62.71 | -15.67 | 5.15 | -67.41 | -4.35 | 38.73 | -18.21 | -1.53 | 43.12 | -10.07 | 0.11 | -38.89 | -35.29 | -2.78 | 72.61 | -143.86 | 141.56 | -2.61 | 5.97 | 93.75 | 46.19 | 2.47 | 4.17 | -88.38 | -51.04 | 21.84 | 57.24 | 47.57 |
| 21Q4 (12) | 5.71 | -20.14 | 18.96 | -11.34 | -20.13 | -16.07 | -17.66 | -46.68 | -23.84 | -16.52 | -32.48 | -0.79 | -7.10 | -62.84 | -23.05 | -2.69 | -71.34 | -12.55 | 0.18 | 20.0 | 12.5 | -10.15 | -248.8 | -126.06 | 145.36 | 6.35 | 19.12 | 64.13 | -17.55 | -6.48 | 35.87 | 61.41 | 14.13 | 13.89 | -7.34 | 4.44 |
| 21Q3 (11) | 7.15 | -61.41 | 71.46 | -9.44 | -300.42 | 17.12 | -12.04 | -563.08 | -27.27 | -12.47 | -936.91 | -8.34 | -4.36 | -731.88 | -16.27 | -1.57 | -390.74 | -28.69 | 0.15 | -25.0 | 7.14 | -2.91 | -130.25 | -350.86 | 136.68 | 0.4 | 15.93 | 77.78 | -55.56 | -34.92 | 22.22 | 127.35 | 213.89 | 14.99 | 17.66 | 0 |
| 21Q2 (10) | 18.53 | 213.01 | 72.69 | 4.71 | 157.72 | 161.89 | 2.60 | 128.86 | 127.81 | 1.49 | 115.92 | 112.37 | 0.69 | 118.75 | 118.85 | 0.54 | 138.85 | 141.54 | 0.20 | 17.65 | 66.67 | 9.62 | 943.86 | 825.0 | 136.14 | 1.91 | -13.77 | 175.00 | 91.28 | 117.24 | -81.25 | -1054.69 | -517.86 | 12.74 | -13.92 | 0 |
| 21Q1 (9) | 5.92 | 23.33 | 119.26 | -8.16 | 16.48 | 57.28 | -9.01 | 36.82 | 55.15 | -9.36 | 42.89 | 52.82 | -3.68 | 36.22 | 18.76 | -1.39 | 41.84 | 20.11 | 0.17 | 6.25 | 70.0 | -1.14 | 74.61 | 84.14 | 133.59 | 9.47 | -3.68 | 91.49 | 33.42 | -3.86 | 8.51 | -72.92 | 75.89 | 14.80 | 11.28 | -41.64 |
| 20Q4 (8) | 4.80 | 15.11 | -23.57 | -9.77 | 14.22 | -10.4 | -14.26 | -50.74 | -22.51 | -16.39 | -42.4 | -40.69 | -5.77 | -53.87 | -50.65 | -2.39 | -95.9 | -59.33 | 0.16 | 14.29 | 14.29 | -4.49 | -487.07 | -30.52 | 122.03 | 3.5 | -8.61 | 68.57 | -42.62 | -9.69 | 31.43 | 261.07 | 30.55 | 13.30 | 0 | -15.77 |
| 20Q3 (7) | 4.17 | -61.14 | -64.93 | -11.39 | -49.67 | -123.33 | -9.46 | -1.18 | -80.88 | -11.51 | 4.48 | -72.31 | -3.75 | -2.46 | -94.3 | -1.22 | 6.15 | -74.29 | 0.14 | 16.67 | 7.69 | 1.16 | 11.54 | -66.67 | 117.90 | -25.32 | -5.32 | 119.51 | 48.36 | 24.94 | -19.51 | -200.35 | -548.78 | 0.00 | 0 | -100.0 |
| 20Q2 (6) | 10.73 | 297.41 | 27.89 | -7.61 | 60.16 | -13.75 | -9.35 | 53.46 | -28.43 | -12.05 | 39.26 | -56.9 | -3.66 | 19.21 | -59.83 | -1.30 | 25.29 | -46.07 | 0.12 | 20.0 | -14.29 | 1.04 | 114.46 | 141.86 | 157.88 | 13.84 | 34.17 | 80.56 | -15.35 | -11.65 | 19.44 | 301.85 | 120.37 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 2.70 | -57.01 | 2600.0 | -19.10 | -115.82 | -17.68 | -20.09 | -72.59 | -459.61 | -19.84 | -70.3 | -508.59 | -4.53 | -18.28 | -459.26 | -1.74 | -16.0 | -690.91 | 0.10 | -28.57 | -16.67 | -7.19 | -109.01 | -176.98 | 138.69 | 3.86 | 31.61 | 95.16 | 25.33 | -79.18 | 4.84 | -79.9 | 101.35 | 25.36 | 60.61 | 27.12 |
| 19Q4 (4) | 6.28 | -47.18 | 0.0 | -8.85 | -73.53 | 0.0 | -11.64 | -122.56 | 0.0 | -11.65 | -74.4 | 0.0 | -3.83 | -98.45 | 0.0 | -1.50 | -114.29 | 0.0 | 0.14 | 7.69 | 0.0 | -3.44 | -198.85 | 0.0 | 133.53 | 7.23 | 0.0 | 75.93 | -20.62 | 0.0 | 24.07 | 453.7 | 0.0 | 15.79 | -14.56 | 0.0 |
| 19Q3 (3) | 11.89 | 41.72 | 0.0 | -5.10 | 23.77 | 0.0 | -5.23 | 28.16 | 0.0 | -6.68 | 13.02 | 0.0 | -1.93 | 15.72 | 0.0 | -0.70 | 21.35 | 0.0 | 0.13 | -7.14 | 0.0 | 3.48 | 709.3 | 0.0 | 124.53 | 5.83 | 0.0 | 95.65 | 4.91 | 0.0 | 4.35 | -50.72 | 0.0 | 18.48 | 6.57 | 0.0 |
| 19Q2 (2) | 8.39 | 8290.0 | 0.0 | -6.69 | 58.78 | 0.0 | -7.28 | -102.79 | 0.0 | -7.68 | -135.58 | 0.0 | -2.29 | -182.72 | 0.0 | -0.89 | -304.55 | 0.0 | 0.14 | 16.67 | 0.0 | 0.43 | -95.4 | 0.0 | 117.67 | 11.66 | 0.0 | 91.18 | -80.06 | 0.0 | 8.82 | 102.47 | 0.0 | 17.34 | -13.08 | 0.0 |
| 19Q1 (1) | 0.10 | 0.0 | 0.0 | -16.23 | 0.0 | 0.0 | -3.59 | 0.0 | 0.0 | -3.26 | 0.0 | 0.0 | -0.81 | 0.0 | 0.0 | -0.22 | 0.0 | 0.0 | 0.12 | 0.0 | 0.0 | 9.34 | 0.0 | 0.0 | 105.38 | 0.0 | 0.0 | 457.14 | 0.0 | 0.0 | -357.14 | 0.0 | 0.0 | 19.95 | 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) | 3.63 | 93.09 | -17.25 | 0 | 9.60 | 11.55 | -20.15 | 0 | -20.35 | 0 | -28.96 | 0 | -9.55 | 0 | 0.54 | 14.89 | -6.63 | 0 | 193.06 | 39.38 | 85.65 | -5.94 | 14.35 | 60.54 | 0.00 | 0 | 17.57 | -14.92 |
| 2022 (9) | 1.88 | -80.72 | -17.56 | 0 | 8.61 | 47.93 | -19.29 | 0 | -19.44 | 0 | -22.25 | 0 | -7.93 | 0 | 0.47 | -33.8 | -6.97 | 0 | 138.51 | -4.71 | 91.06 | 39.74 | 8.94 | -74.34 | 0.00 | 0 | 20.65 | 47.29 |
| 2021 (8) | 9.75 | 72.57 | -5.52 | 0 | 5.82 | -29.35 | -8.47 | 0 | -8.69 | 0 | -14.34 | 0 | -5.14 | 0 | 0.71 | 36.54 | -0.67 | 0 | 145.36 | 19.12 | 65.17 | -26.73 | 34.83 | 215.0 | 0.00 | 0 | 14.02 | -16.0 |
| 2020 (7) | 5.65 | -17.16 | -11.46 | 0 | 8.24 | 10.45 | -12.91 | 0 | -14.70 | 0 | -17.34 | 0 | -6.65 | 0 | 0.52 | 0.0 | -2.17 | 0 | 122.03 | -8.61 | 88.94 | -30.08 | 11.06 | 0 | 0.00 | 0 | 16.69 | 2.2 |
| 2019 (6) | 6.82 | -47.01 | -9.02 | 0 | 7.46 | 1.86 | -7.10 | 0 | -7.49 | 0 | -8.92 | 0 | -3.22 | 0 | 0.52 | -21.21 | 2.16 | -78.57 | 133.53 | 8.83 | 127.20 | 0 | -27.20 | 0 | 0.00 | 0 | 16.33 | 1.05 |
| 2018 (5) | 12.87 | -43.08 | -3.96 | 0 | 7.32 | 146.85 | 0.63 | -93.79 | 1.11 | -86.94 | 1.57 | -89.68 | 1.81 | -77.49 | 0.66 | -23.26 | 10.08 | -29.01 | 122.70 | 20.13 | -630.77 | 0 | 730.77 | 13983.92 | 0.00 | 0 | 16.16 | 27.85 |
| 2017 (4) | 22.61 | -9.81 | 9.62 | -11.5 | 2.97 | -0.57 | 10.14 | 4.54 | 8.50 | 1.92 | 15.22 | -17.91 | 8.04 | -5.3 | 0.86 | -7.53 | 14.20 | 3.8 | 102.14 | -13.17 | 94.81 | -15.47 | 5.19 | 0 | 0.00 | 0 | 12.64 | -14.88 |
| 2016 (3) | 25.07 | 13.54 | 10.87 | 28.18 | 2.98 | -12.98 | 9.70 | 25.16 | 8.34 | 45.3 | 18.54 | 29.83 | 8.49 | 39.64 | 0.93 | 1.09 | 13.68 | 10.68 | 117.63 | -28.88 | 112.17 | 2.51 | -12.17 | 0 | 0.00 | 0 | 14.85 | -3.32 |
| 2015 (2) | 22.08 | 14.17 | 8.48 | 64.34 | 3.43 | -6.2 | 7.75 | 101.82 | 5.74 | 107.22 | 14.28 | 0 | 6.08 | 0 | 0.92 | 0 | 12.36 | 37.95 | 165.39 | -5.42 | 109.42 | -19.18 | -9.42 | 0 | 0.00 | 0 | 15.36 | -6.17 |
| 2014 (1) | 19.34 | 0 | 5.16 | 0 | 3.65 | 0 | 3.84 | 0 | 2.77 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 8.96 | 0 | 174.87 | 0 | 135.38 | 0 | -33.85 | 0 | 0.00 | 0 | 16.37 | 0 |
