- 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) | 22.22 | 185.6 | -15.99 | -13.99 | 75.53 | -235.04 | -14.83 | 73.06 | -284.45 | -14.83 | 73.06 | -284.45 | -1.66 | 40.93 | -173.78 | -0.61 | 48.31 | -151.26 | 0.06 | 100.0 | -50.0 | 1.59 | 107.68 | -90.54 | 102.10 | 2.6 | -26.14 | 100.00 | -5.88 | -23.08 | 11.11 | 277.78 | 137.04 | 21.02 | -51.83 | 142.45 |
| 23Q3 (19) | 7.78 | -73.61 | -68.89 | -57.17 | -604.14 | -297.84 | -55.04 | -565.26 | -372.04 | -55.04 | -565.26 | -372.04 | -2.81 | -190.94 | -138.14 | -1.18 | -172.84 | -306.9 | 0.03 | -75.0 | -25.0 | -20.69 | -205.72 | -286.23 | 99.51 | -2.25 | -25.52 | 106.25 | 6.25 | -11.46 | -6.25 | -200.0 | 68.75 | 43.64 | 300.0 | 70.54 |
| 23Q2 (18) | 29.48 | -6.32 | 762.47 | 11.34 | -5.5 | 109.34 | 11.83 | 11.29 | 110.04 | 11.83 | 11.29 | 110.04 | 3.09 | 31.49 | 158.41 | 1.62 | 31.71 | 176.06 | 0.12 | 33.33 | 500.0 | 19.57 | -8.38 | 129.35 | 101.80 | -28.93 | -23.5 | 100.00 | -8.33 | -4.0 | 6.25 | 168.75 | 250.0 | 10.91 | -10.87 | -81.87 |
| 23Q1 (17) | 31.47 | 18.98 | -14.81 | 12.00 | 15.83 | 120.59 | 10.63 | 32.21 | 120.25 | 10.63 | 32.21 | 120.25 | 2.35 | 4.44 | 225.0 | 1.23 | 3.36 | 283.58 | 0.09 | -25.0 | 350.0 | 21.36 | 27.14 | 263.27 | 143.24 | 3.62 | 18.64 | 109.09 | -16.08 | -1.82 | -9.09 | 69.7 | 18.18 | 12.24 | 41.18 | -82.02 |
| 22Q4 (16) | 26.45 | 5.76 | 115.95 | 10.36 | 172.09 | 103.28 | 8.04 | 168.95 | 102.54 | 8.04 | 168.95 | 102.54 | 2.25 | 290.68 | 122.06 | 1.19 | 510.34 | 125.65 | 0.12 | 200.0 | 500.0 | 16.80 | 51.22 | 106.56 | 138.23 | 3.46 | 20.43 | 130.00 | 8.33 | 30.0 | -30.00 | -50.0 | 0 | 8.67 | -66.12 | -88.39 |
| 22Q3 (15) | 25.01 | 662.02 | 68.76 | -14.37 | 88.16 | 74.27 | -11.66 | 90.1 | 84.18 | -11.66 | 90.1 | 84.18 | -1.18 | 77.69 | 71.84 | -0.29 | 86.38 | 84.66 | 0.04 | 100.0 | 33.33 | 11.11 | 116.66 | 126.49 | 133.61 | 0.41 | 23.0 | 120.00 | 15.2 | 62.35 | -20.00 | -380.0 | -192.0 | 25.59 | -57.47 | -45.36 |
| 22Q2 (14) | -4.45 | -112.05 | 88.15 | -121.37 | -108.29 | 57.76 | -117.82 | -124.46 | 60.09 | -117.82 | -124.46 | 60.09 | -5.29 | -181.38 | -36.69 | -2.13 | -217.91 | -17.68 | 0.02 | 0.0 | 100.0 | -66.67 | -1233.84 | 53.33 | 133.07 | 10.22 | 36.48 | 104.17 | -6.25 | 9.13 | -4.17 | 62.5 | -191.67 | 60.17 | -11.62 | -60.3 |
| 22Q1 (13) | 36.94 | 122.28 | 423.18 | -58.27 | 81.57 | 77.14 | -52.49 | 83.44 | 79.58 | -52.49 | 83.44 | 79.58 | -1.88 | 81.57 | 64.46 | -0.67 | 85.56 | 74.13 | 0.02 | 0.0 | 100.0 | 5.88 | 102.29 | 103.53 | 120.73 | 5.18 | 29.69 | 111.11 | 11.11 | 11.11 | -11.11 | 0 | 0 | 68.08 | -8.81 | -39.68 |
| 21Q4 (12) | -165.83 | -1218.96 | -1435.46 | -316.14 | -466.05 | -131.84 | -317.00 | -330.01 | -434.03 | -317.00 | -330.01 | -434.03 | -10.20 | -143.44 | -489.6 | -4.64 | -145.5 | -518.67 | 0.02 | -33.33 | 0.0 | -256.25 | -510.99 | 0 | 114.78 | 5.66 | 26.72 | 100.00 | 35.29 | -54.17 | -0.00 | -100.0 | 100.0 | 74.66 | 59.43 | -26.03 |
| 21Q3 (11) | 14.82 | 139.46 | 225.17 | -55.85 | 80.56 | 53.66 | -73.72 | 75.03 | 42.15 | -73.72 | 75.03 | 42.15 | -4.19 | -8.27 | 12.89 | -1.89 | -4.42 | 21.25 | 0.03 | 200.0 | 50.0 | -41.94 | 70.64 | 47.03 | 108.63 | 11.42 | 21.36 | 73.91 | -22.57 | -23.54 | 21.74 | 378.26 | 226.09 | 46.83 | -69.1 | -27.81 |
| 21Q2 (10) | -37.56 | -228.61 | -294.51 | -287.35 | -12.74 | -1239.0 | -295.20 | -14.82 | -1289.83 | -295.20 | -14.82 | -1289.83 | -3.87 | 26.84 | -128.99 | -1.81 | 30.12 | -141.33 | 0.01 | 0.0 | -75.0 | -142.86 | 14.29 | -7340.63 | 97.50 | 4.74 | 13.42 | 95.45 | -4.55 | -4.55 | 4.55 | 0 | 0 | 151.56 | 34.28 | 0 |
| 21Q1 (9) | -11.43 | -5.83 | -149.83 | -254.87 | -86.91 | -842.57 | -257.10 | -333.12 | -1121.38 | -257.10 | -333.12 | -1121.38 | -5.29 | -205.78 | -230.62 | -2.59 | -245.33 | -286.57 | 0.01 | -50.0 | -75.0 | -166.67 | 0 | 0 | 93.09 | 2.77 | 7.91 | 100.00 | -54.17 | -21.43 | -0.00 | 100.0 | 100.0 | 112.87 | 11.83 | 308.51 |
| 20Q4 (8) | -10.80 | 8.78 | -148.39 | -136.36 | -13.14 | -1104.59 | -59.36 | 53.42 | -275.46 | -59.36 | 53.42 | -275.46 | -1.73 | 64.03 | 1.7 | -0.75 | 68.75 | 0.0 | 0.02 | 0.0 | -66.67 | 0.00 | 100.0 | 100.0 | 90.58 | 1.2 | -1.41 | 218.18 | 125.71 | 190.91 | -127.27 | -2009.09 | -609.09 | 100.93 | 55.59 | 134.61 |
| 20Q3 (7) | -11.84 | -161.32 | -167.66 | -120.52 | -461.6 | -1174.0 | -127.43 | -499.95 | -1189.78 | -127.43 | -499.95 | -1189.78 | -4.81 | -184.62 | -287.9 | -2.40 | -220.0 | -400.0 | 0.02 | -50.0 | -71.43 | -79.17 | -4023.44 | -3542.17 | 89.51 | 4.13 | -0.18 | 96.67 | -3.33 | 8.75 | 6.67 | 0 | 0 | 64.87 | 0 | 236.81 |
| 20Q2 (6) | 19.31 | -15.82 | -15.31 | -21.46 | 20.64 | -87.92 | -21.24 | -0.9 | -104.03 | -21.24 | -0.9 | -104.03 | -1.69 | -5.62 | -30.0 | -0.75 | -11.94 | -50.0 | 0.04 | 0.0 | -33.33 | -1.92 | 0 | -173.85 | 85.96 | -0.36 | -4.62 | 100.00 | -21.43 | -11.11 | -0.00 | 100.0 | 100.0 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 22.94 | 2.78 | -12.17 | -27.04 | -138.87 | -2550.98 | -21.05 | -33.14 | -2983.56 | -21.05 | -33.14 | -2983.56 | -1.60 | 9.09 | -1433.33 | -0.67 | 10.67 | -348.15 | 0.04 | -33.33 | -50.0 | -0.00 | 100.0 | -100.0 | 86.27 | -6.11 | -31.12 | 127.27 | 69.7 | 227.27 | -27.27 | -209.09 | -113.64 | 27.63 | -35.77 | 29.48 |
| 19Q4 (4) | 22.32 | 27.54 | 0.0 | -11.32 | -19.66 | 0.0 | -15.81 | -60.02 | 0.0 | -15.81 | -60.02 | 0.0 | -1.76 | -41.94 | 0.0 | -0.75 | -56.25 | 0.0 | 0.06 | -14.29 | 0.0 | -2.63 | -214.35 | 0.0 | 91.88 | 2.46 | 0.0 | 75.00 | -15.62 | 0.0 | 25.00 | 0 | 0.0 | 43.02 | 123.36 | 0.0 |
| 19Q3 (3) | 17.50 | -23.25 | 0.0 | -9.46 | 17.16 | 0.0 | -9.88 | 5.09 | 0.0 | -9.88 | 5.09 | 0.0 | -1.24 | 4.62 | 0.0 | -0.48 | 4.0 | 0.0 | 0.07 | 16.67 | 0.0 | 2.30 | -11.54 | 0.0 | 89.67 | -0.5 | 0.0 | 88.89 | -20.99 | 0.0 | 0.00 | 100.0 | 0.0 | 19.26 | -16.51 | 0.0 |
| 19Q2 (2) | 22.80 | -12.71 | 0.0 | -11.42 | -1019.61 | 0.0 | -10.41 | -1526.03 | 0.0 | -10.41 | -1526.03 | 0.0 | -1.30 | -1183.33 | 0.0 | -0.50 | -285.19 | 0.0 | 0.06 | -25.0 | 0.0 | 2.60 | -79.2 | 0.0 | 90.12 | -28.05 | 0.0 | 112.50 | 212.5 | 0.0 | -12.50 | -106.25 | 0.0 | 23.07 | 8.11 | 0.0 |
| 19Q1 (1) | 26.12 | 0.0 | 0.0 | -1.02 | 0.0 | 0.0 | 0.73 | 0.0 | 0.0 | 0.73 | 0.0 | 0.0 | 0.12 | 0.0 | 0.0 | 0.27 | 0.0 | 0.0 | 0.08 | 0.0 | 0.0 | 12.50 | 0.0 | 0.0 | 125.25 | 0.0 | 0.0 | -100.00 | 0.0 | 0.0 | 200.00 | 0.0 | 0.0 | 21.34 | 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) | 26.82 | 12.08 | 0.75 | 0 | 8.11 | -37.84 | 0.56 | 0 | 0.56 | 0 | 0.37 | 0 | 1.12 | 0 | 0.30 | 50.0 | 13.21 | 127.76 | 102.10 | -26.14 | 150.00 | 50.0 | -50.00 | 0 | 3.03 | -9.34 | 16.10 | -27.87 |
| 2022 (9) | 23.93 | 0 | -13.69 | 0 | 13.04 | -68.12 | -13.69 | 0 | -13.69 | 0 | -6.10 | 0 | -1.86 | 0 | 0.20 | 233.33 | 5.80 | 0 | 138.23 | 20.43 | 100.00 | 5.83 | -0.00 | 0 | 3.34 | -7.22 | 22.32 | -71.12 |
| 2021 (8) | -39.92 | 0 | -181.42 | 0 | 40.91 | 104.55 | -191.17 | 0 | -191.17 | 0 | -23.44 | 0 | -10.96 | 0 | 0.06 | -50.0 | -128.79 | 0 | 114.78 | 26.72 | 94.49 | -23.68 | 4.72 | 0 | 3.60 | -15.45 | 77.28 | 82.14 |
| 2020 (7) | 11.85 | -46.57 | -53.60 | 0 | 20.00 | 152.31 | -43.13 | 0 | -43.13 | 0 | -9.76 | 0 | -4.45 | 0 | 0.12 | -57.14 | -13.79 | 0 | 90.58 | -1.41 | 123.81 | 28.4 | -23.81 | 0 | 4.26 | 9.03 | 42.43 | 62.07 |
| 2019 (6) | 22.18 | 0 | -8.09 | 0 | 7.93 | -70.18 | -8.53 | 0 | -8.53 | 0 | -4.66 | 0 | -1.67 | 0 | 0.28 | 300.0 | 3.66 | 0 | 91.88 | -2.04 | 96.43 | 66.37 | 3.57 | -91.5 | 3.91 | -19.29 | 26.18 | -69.89 |
| 2018 (5) | -5.68 | 0 | -115.66 | 0 | 26.58 | -74.82 | -199.76 | 0 | -199.76 | 0 | -26.70 | 0 | -14.18 | 0 | 0.07 | 250.0 | -159.49 | 0 | 93.79 | 34.72 | 57.96 | -12.81 | 42.04 | 25.4 | 4.84 | 0 | 86.96 | -75.9 |
| 2017 (4) | -101.61 | 0 | -650.52 | 0 | 105.56 | 866.67 | -976.40 | 0 | -976.40 | 0 | -23.80 | 0 | -14.18 | 0 | 0.02 | -85.71 | -816.67 | 0 | 69.62 | 23.77 | 66.48 | -32.4 | 33.52 | 0 | 0.00 | 0 | 360.88 | 946.33 |
| 2016 (3) | 22.09 | 0 | -34.00 | 0 | 10.92 | -60.69 | -34.20 | 0 | -34.20 | 0 | -7.57 | 0 | -4.38 | 0 | 0.14 | 133.33 | -18.39 | 0 | 56.25 | -3.65 | 98.33 | -31.17 | -0.00 | 0 | 0.00 | 0 | 34.49 | -59.58 |
| 2015 (2) | -1.91 | 0 | -165.71 | 0 | 27.78 | 64.93 | -116.38 | 0 | -116.38 | 0 | -10.82 | 0 | -6.45 | 0 | 0.06 | -25.0 | -76.39 | 0 | 58.38 | 6.09 | 142.86 | 30.39 | -42.86 | 0 | 0.00 | 0 | 85.32 | 44.71 |
| 2014 (1) | 2.34 | 0 | -156.17 | 0 | 16.84 | -0.93 | -143.31 | 0 | -143.27 | 0 | -15.75 | 0 | -11.06 | 0 | 0.08 | -20.0 | -121.05 | 0 | 55.03 | 116.74 | 109.56 | 17.99 | -8.82 | 0 | 0.00 | 0 | 58.96 | 6.68 |
