- 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) | 35.14 | 33.82 | -30.0 | -78.02 | 17.26 | -380.42 | -88.82 | -68.73 | -246.01 | -88.91 | -68.26 | -246.09 | -4.00 | -270.37 | -296.04 | -3.60 | -271.13 | -304.49 | 0.04 | 100.0 | 0.0 | -73.74 | -205.09 | -508.92 | 11.43 | 19.44 | 4.86 | 87.68 | -51.09 | 39.26 | 12.07 | 115.22 | -67.41 | 39.02 | -47.69 | 6.73 |
| 23Q3 (19) | 26.26 | 301.69 | -37.89 | -94.29 | 49.04 | -140.54 | -52.64 | 62.4 | -600.93 | -52.84 | 62.34 | -593.44 | -1.08 | 41.94 | -315.38 | -0.97 | 42.6 | -361.9 | 0.02 | 100.0 | -33.33 | -24.17 | 74.92 | -412.68 | 9.57 | 10.25 | -24.29 | 179.28 | 35.86 | -65.91 | -79.28 | -148.07 | 81.39 | 74.60 | -36.77 | 70.83 |
| 23Q2 (18) | -13.02 | -172.62 | -129.92 | -185.03 | -81.56 | -628.75 | -140.00 | -49.05 | -7030.69 | -140.30 | -49.14 | -7445.55 | -1.86 | 3.12 | -3200.0 | -1.69 | 2.31 | -2514.29 | 0.01 | -50.0 | -66.67 | -96.38 | -45.59 | -650.43 | 8.68 | 1.28 | -33.08 | 131.96 | 21.76 | 110.87 | -31.96 | -281.63 | -102.43 | 117.99 | 59.68 | 188.2 |
| 23Q1 (17) | 17.93 | -64.28 | -73.61 | -101.91 | -527.52 | -947.38 | -93.93 | -265.91 | -2496.17 | -94.07 | -266.17 | -2556.14 | -1.92 | -90.1 | -1576.92 | -1.73 | -94.38 | -1335.71 | 0.02 | -50.0 | -33.33 | -66.20 | -446.66 | -468.6 | 8.57 | -21.38 | -7.55 | 108.37 | 72.12 | 143.35 | -8.37 | -122.61 | -102.39 | 73.89 | 102.11 | 79.96 |
| 22Q4 (16) | 50.20 | 18.73 | -3.76 | -16.24 | 58.57 | -797.0 | -25.67 | -241.81 | -3308.75 | -25.69 | -237.14 | -3619.18 | -1.01 | -288.46 | -2625.0 | -0.89 | -323.81 | -1371.43 | 0.04 | 33.33 | -20.0 | -12.11 | -256.66 | -191.67 | 10.90 | -13.77 | 12.26 | 62.96 | -88.03 | -81.11 | 37.04 | 108.7 | 118.52 | 36.56 | -16.28 | 29.46 |
| 22Q3 (15) | 42.28 | -2.83 | -48.07 | -39.20 | -54.39 | -180.39 | -7.51 | -471.78 | -114.84 | -7.62 | -498.95 | -115.07 | -0.26 | -533.33 | -104.04 | -0.21 | -400.0 | -104.26 | 0.03 | 0.0 | -70.0 | 7.73 | -55.85 | -86.74 | 12.64 | -2.54 | -53.87 | 525.93 | 143.31 | 445.65 | -425.93 | -132.41 | -11883.95 | 43.67 | 6.67 | 181.38 |
| 22Q2 (14) | 43.51 | -35.96 | -14.16 | -25.39 | -160.95 | 41.48 | 2.02 | -48.47 | 105.11 | 1.91 | -50.13 | 104.82 | 0.06 | -53.85 | 101.35 | 0.07 | -50.0 | 102.55 | 0.03 | 0.0 | -57.14 | 17.51 | -2.51 | 167.84 | 12.97 | 39.91 | -65.14 | -1214.29 | -385.71 | -1201.85 | 1314.29 | 275.51 | 13900.0 | 40.94 | -0.29 | -16.62 |
| 22Q1 (13) | 67.94 | 30.25 | 11.8 | -9.73 | -517.6 | 89.49 | 3.92 | 390.0 | 104.18 | 3.83 | 424.66 | 104.08 | 0.13 | 225.0 | 101.01 | 0.14 | 100.0 | 102.31 | 0.03 | -40.0 | -57.14 | 17.96 | 35.96 | 124.72 | 9.27 | -4.53 | -91.76 | -250.00 | -175.0 | -353.3 | 350.00 | 275.0 | 26733.33 | 41.06 | 45.4 | 11.91 |
| 21Q4 (12) | 52.16 | -35.94 | -14.79 | 2.33 | -95.22 | 102.01 | 0.80 | -98.42 | 100.64 | 0.73 | -98.56 | 100.59 | 0.04 | -99.38 | 100.28 | 0.07 | -98.58 | 100.96 | 0.05 | -50.0 | -16.67 | 13.21 | -77.34 | 112.78 | 9.71 | -64.56 | -90.41 | 333.33 | 245.83 | 257.58 | -200.00 | -5633.33 | -3050.0 | 28.24 | 81.96 | -28.79 |
| 21Q3 (11) | 81.42 | 60.62 | 2.36 | 48.76 | 212.38 | 420.37 | 50.61 | 228.09 | 384.33 | 50.57 | 227.51 | 384.1 | 6.44 | 245.05 | 303.15 | 4.93 | 279.27 | 412.03 | 0.10 | 42.86 | 0.0 | 58.30 | 325.88 | 1243.14 | 27.40 | -26.36 | -69.87 | 96.39 | -12.54 | 12.45 | 3.61 | 137.95 | -74.7 | 15.52 | -68.39 | -28.15 |
| 21Q2 (10) | 50.69 | -16.59 | -18.31 | -43.39 | 53.15 | 70.58 | -39.51 | 57.9 | 74.62 | -39.66 | 57.8 | 74.52 | -4.44 | 65.34 | 74.74 | -2.75 | 54.62 | 69.24 | 0.07 | 0.0 | 16.67 | -25.81 | 64.47 | 80.27 | 37.21 | -66.93 | -54.3 | 110.20 | 11.66 | 16.23 | -9.52 | -830.16 | -283.75 | 49.10 | 33.82 | 0 |
| 21Q1 (9) | 60.77 | -0.72 | -13.45 | -92.62 | 20.14 | 37.02 | -93.85 | 24.64 | 37.59 | -93.98 | 24.62 | 37.5 | -12.81 | 11.41 | 38.18 | -6.06 | 16.53 | 42.07 | 0.07 | 16.67 | 0.0 | -72.65 | 29.73 | 43.82 | 112.51 | 11.11 | 3.79 | 98.70 | 5.87 | 0.72 | 1.30 | -80.76 | -43.26 | 36.69 | -7.49 | 41.55 |
| 20Q4 (8) | 61.21 | -23.05 | 13.46 | -115.98 | -662.02 | 34.12 | -124.53 | -599.61 | 31.29 | -124.67 | -600.39 | 31.22 | -14.46 | -356.15 | -2.19 | -7.26 | -359.49 | 7.63 | 0.06 | -40.0 | 50.0 | -103.38 | -1927.06 | 31.08 | 101.26 | 11.34 | 20.18 | 93.22 | 8.76 | -4.06 | 6.78 | -52.54 | 138.98 | 39.66 | 83.61 | -1.34 |
| 20Q3 (7) | 79.54 | 28.19 | 109.54 | -15.22 | 89.68 | 95.35 | -17.80 | 88.56 | 94.7 | -17.80 | 88.56 | 94.7 | -3.17 | 81.97 | 75.93 | -1.58 | 82.33 | 79.67 | 0.10 | 66.67 | 400.0 | -5.10 | 96.1 | 98.22 | 90.95 | 11.69 | 30.49 | 85.71 | -9.6 | -11.95 | 14.29 | 175.63 | 437.5 | 21.60 | 0 | -68.27 |
| 20Q2 (6) | 62.05 | -11.62 | 0.1 | -147.47 | -0.27 | -68.44 | -155.66 | -3.51 | -77.75 | -155.66 | -3.51 | -77.75 | -17.58 | 15.15 | -193.98 | -8.94 | 14.53 | -150.42 | 0.06 | -14.29 | 50.0 | -130.81 | -1.16 | -81.68 | 81.43 | -24.88 | 28.87 | 94.82 | -3.24 | -5.18 | 5.18 | 125.46 | 0 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 70.21 | 30.14 | 29.8 | -147.07 | 16.47 | 19.95 | -150.38 | 17.03 | 16.82 | -150.38 | 17.03 | 16.82 | -20.72 | -46.43 | -184.62 | -10.46 | -33.08 | -124.95 | 0.07 | 75.0 | 133.33 | -129.31 | 13.79 | 18.81 | 108.40 | 28.65 | 59.15 | 97.99 | 0.85 | -3.33 | 2.30 | -18.97 | 268.97 | 25.92 | -35.52 | -57.79 |
| 19Q4 (4) | 53.95 | 42.12 | 0.0 | -176.06 | 46.22 | 0.0 | -181.25 | 46.02 | 0.0 | -181.25 | 46.02 | 0.0 | -14.15 | -7.44 | 0.0 | -7.86 | -1.16 | 0.0 | 0.04 | 100.0 | 0.0 | -150.00 | 47.68 | 0.0 | 84.26 | 20.89 | 0.0 | 97.16 | -0.18 | 0.0 | 2.84 | 6.74 | 0.0 | 40.20 | -40.94 | 0.0 |
| 19Q3 (3) | 37.96 | -38.76 | 0.0 | -327.37 | -273.92 | 0.0 | -335.78 | -283.44 | 0.0 | -335.78 | -283.44 | 0.0 | -13.17 | -120.23 | 0.0 | -7.77 | -117.65 | 0.0 | 0.02 | -50.0 | 0.0 | -286.67 | -298.15 | 0.0 | 69.70 | 10.3 | 0.0 | 97.34 | -2.66 | 0.0 | 2.66 | 0 | 0.0 | 68.07 | 101.63 | 0.0 |
| 19Q2 (2) | 61.99 | 14.61 | 0.0 | -87.55 | 52.35 | 0.0 | -87.57 | 51.56 | 0.0 | -87.57 | 51.56 | 0.0 | -5.98 | 17.86 | 0.0 | -3.57 | 23.23 | 0.0 | 0.04 | 33.33 | 0.0 | -72.00 | 54.79 | 0.0 | 63.19 | -7.22 | 0.0 | 100.00 | -1.34 | 0.0 | 0.00 | 100.0 | 0.0 | 33.76 | -45.03 | 0.0 |
| 19Q1 (1) | 54.09 | 0.0 | 0.0 | -183.73 | 0.0 | 0.0 | -180.78 | 0.0 | 0.0 | -180.78 | 0.0 | 0.0 | -7.28 | 0.0 | 0.0 | -4.65 | 0.0 | 0.0 | 0.03 | 0.0 | 0.0 | -159.26 | 0.0 | 0.0 | 68.11 | 0.0 | 0.0 | 101.36 | 0.0 | 0.0 | -1.36 | 0.0 | 0.0 | 61.41 | 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) | 23.15 | -54.68 | -100.91 | 0 | 22.29 | 74.64 | -89.34 | 0 | -89.49 | 0 | -8.84 | 0 | -7.88 | 0 | 0.09 | -30.77 | -64.91 | 0 | 11.43 | 4.86 | 112.91 | -61.11 | -12.91 | 0 | 0.25 | 6.13 | 64.43 | 59.52 |
| 2022 (9) | 51.08 | -20.68 | -22.34 | 0 | 12.76 | 28.15 | -7.72 | 0 | -7.80 | 0 | -1.09 | 0 | -0.93 | 0 | 0.13 | -40.91 | 6.82 | -29.84 | 10.90 | 12.26 | 290.35 | 105.25 | -190.35 | 0 | 0.24 | 35.2 | 40.39 | 38.75 |
| 2021 (8) | 64.40 | -8.05 | -3.44 | 0 | 9.96 | -32.43 | -2.43 | 0 | -2.51 | 0 | -0.69 | 0 | -0.34 | 0 | 0.22 | -26.67 | 9.72 | 0 | 9.71 | -90.41 | 141.46 | 49.35 | -41.46 | 0 | 0.17 | -79.68 | 29.11 | -4.87 |
| 2020 (7) | 70.04 | 30.94 | -91.99 | 0 | 14.74 | -29.84 | -97.15 | 0 | -97.19 | 0 | -55.40 | 0 | -28.10 | 0 | 0.30 | 100.0 | -78.45 | 0 | 101.26 | 20.18 | 94.72 | -3.83 | 5.28 | 249.92 | 0.86 | -29.97 | 30.60 | -34.95 |
| 2019 (6) | 53.49 | 90.56 | -178.05 | 0 | 21.01 | 104.29 | -180.83 | 0 | -180.83 | 0 | -43.67 | 0 | -26.47 | 0 | 0.15 | 25.0 | -153.15 | 0 | 84.26 | 98.21 | 98.49 | -3.61 | 1.51 | 0 | 1.23 | -32.3 | 47.04 | -26.36 |
| 2018 (5) | 28.07 | -27.41 | -133.40 | 0 | 10.28 | 17.87 | -130.34 | 0 | -130.32 | 0 | -22.76 | 0 | -15.70 | 0 | 0.12 | -36.84 | -114.89 | 0 | 42.51 | -11.6 | 102.17 | 2.17 | -2.45 | 0 | 1.82 | 0 | 63.88 | 12.27 |
| 2017 (4) | 38.67 | 12.41 | -58.77 | 0 | 8.72 | 10.37 | -58.75 | 0 | -58.70 | 0 | -14.27 | 0 | -11.04 | 0 | 0.19 | -17.39 | -45.97 | 0 | 48.09 | 278.07 | 100.00 | -18.12 | -0.00 | 0 | 0.00 | 0 | 56.90 | 1.37 |
| 2016 (3) | 34.40 | 376.45 | -54.46 | 0 | 7.91 | -52.1 | -44.47 | 0 | -44.41 | 0 | -11.18 | 0 | -10.01 | 0 | 0.23 | 91.67 | -32.41 | 0 | 12.72 | 32.64 | 122.12 | 4.35 | -22.12 | 0 | 0.00 | 0 | 56.13 | -47.42 |
| 2015 (2) | 7.22 | 0 | -153.91 | 0 | 16.50 | -36.34 | -131.20 | 0 | -130.93 | 0 | -17.77 | 0 | -16.15 | 0 | 0.12 | 50.0 | -103.88 | 0 | 9.59 | -6.35 | 117.04 | 0.43 | -17.04 | 0 | 0.00 | 0 | 106.75 | -23.96 |
| 2014 (1) | -39.78 | 0 | -287.84 | 0 | 25.93 | -70.83 | -247.03 | 0 | -247.06 | 0 | -21.30 | 0 | -18.40 | 0 | 0.08 | 0 | -196.30 | 0 | 10.24 | -55.07 | 116.54 | 15.44 | -16.54 | 0 | 0.00 | 0 | 140.38 | -73.06 |
