- 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) | 20.00 | 11.23 | 60.13 | -14.12 | -323.42 | -290.04 | -1.01 | -167.33 | -114.41 | -0.92 | -216.46 | -113.09 | -0.16 | -180.0 | -103.43 | 0.11 | -59.26 | -95.8 | 0.09 | -25.0 | -73.53 | 6.25 | 0.0 | -24.33 | 75.83 | -40.6 | -9.09 | 0.00 | -100.0 | -100.0 | 0.00 | 100.0 | 100.0 | 8.80 | 61.47 | 685.71 |
| 23Q3 (19) | 17.98 | 17.13 | 3.93 | 6.32 | 29.51 | 9.91 | 1.50 | -78.01 | -98.83 | 0.79 | -87.71 | -99.38 | 0.20 | -89.13 | -99.88 | 0.27 | -77.12 | -99.37 | 0.12 | -20.0 | -63.64 | 6.25 | -44.79 | -95.17 | 127.67 | 30.08 | 23.92 | 300.00 | 300.0 | 6971.43 | -200.00 | -900.0 | -308.86 | 5.45 | 13.31 | 91.9 |
| 23Q2 (18) | 15.35 | 9.56 | -11.22 | 4.88 | 17.59 | -26.73 | 6.82 | 9.47 | 1894.74 | 6.43 | 27.83 | 622.76 | 1.84 | 21.05 | 115.88 | 1.18 | 11.32 | 690.0 | 0.15 | -11.76 | -51.61 | 11.32 | 26.76 | 1297.53 | 98.15 | 31.89 | -96.9 | 75.00 | 12.5 | 0 | 25.00 | -25.0 | 0 | 4.81 | 3.22 | 87.89 |
| 23Q1 (17) | 14.01 | 12.17 | -16.31 | 4.15 | -44.15 | 1437.04 | 6.23 | -11.13 | 182.41 | 5.03 | -28.45 | 162.02 | 1.52 | -67.45 | 103.11 | 1.06 | -59.54 | 170.2 | 0.17 | -50.0 | -10.53 | 8.93 | 8.11 | 226.85 | 74.42 | -10.78 | -97.37 | 66.67 | -40.74 | 0 | 33.33 | 366.67 | -72.22 | 4.66 | 316.07 | 29.09 |
| 22Q4 (16) | 12.49 | -27.8 | -23.98 | 7.43 | 29.22 | 331.98 | 7.01 | -94.54 | 114.83 | 7.03 | -94.51 | 114.7 | 4.67 | -97.29 | 102.01 | 2.62 | -93.89 | 118.01 | 0.34 | 3.03 | 9.68 | 8.26 | -93.62 | 118.34 | 83.41 | -19.04 | -97.51 | 112.50 | 2551.79 | 3081.25 | -12.50 | -113.05 | -112.27 | 1.12 | -60.56 | -55.2 |
| 22Q3 (15) | 17.30 | 0.06 | -34.42 | 5.75 | -13.66 | -40.1 | 128.50 | 33915.79 | 1169.76 | 128.00 | 10506.5 | 1362.86 | 172.48 | 1588.18 | 544.79 | 42.88 | 21540.0 | 1732.48 | 0.33 | 6.45 | 26.92 | 129.46 | 15882.72 | 946.56 | 103.03 | -96.74 | -89.45 | 4.24 | 0 | -95.29 | 95.76 | 0 | 857.58 | 2.84 | 10.94 | -2.41 |
| 22Q2 (14) | 17.29 | 3.29 | -4.1 | 6.66 | 2366.67 | 204.39 | -0.38 | 94.97 | -108.23 | -1.23 | 84.83 | -126.68 | -11.59 | 76.29 | -222.13 | -0.20 | 86.75 | -125.97 | 0.31 | 63.16 | 106.67 | 0.81 | 111.51 | -91.25 | 3162.65 | 11.95 | 156.86 | 0.00 | 0 | 100.0 | 0.00 | -100.0 | -100.0 | 2.56 | -29.09 | -56.01 |
| 22Q1 (13) | 16.74 | 1.89 | -8.92 | 0.27 | -84.3 | 103.43 | -7.56 | 84.01 | 28.41 | -8.11 | 83.04 | 23.2 | -48.88 | 78.96 | -143.79 | -1.51 | 89.62 | -11.03 | 0.19 | -38.71 | 35.71 | -7.04 | 84.37 | -24.38 | 2825.03 | -15.56 | 107.0 | -0.00 | 100.0 | -100.0 | 120.00 | 17.78 | 620.0 | 3.61 | 44.4 | -38.71 |
| 21Q4 (12) | 16.43 | -37.72 | 202.88 | 1.72 | -82.08 | 102.52 | -47.28 | -567.19 | 26.5 | -47.82 | -646.51 | 25.66 | -232.36 | -968.64 | -68.38 | -14.55 | -721.79 | -116.84 | 0.31 | 19.23 | 181.82 | -45.05 | -464.19 | 21.65 | 3345.48 | 242.51 | 181.56 | -3.77 | -104.19 | -103.5 | 101.89 | 918.87 | 1424.53 | 2.50 | -14.09 | -25.6 |
| 21Q3 (11) | 26.38 | 46.31 | 20.07 | 9.60 | 250.47 | 106.62 | 10.12 | 119.05 | 111.79 | 8.75 | 89.8 | 110.19 | 26.75 | 181.88 | 145.12 | 2.34 | 203.9 | 253.95 | 0.26 | 73.33 | 1200.0 | 12.37 | 33.59 | 124.74 | 976.76 | -20.67 | -80.04 | 90.00 | 160.0 | -50.91 | 10.00 | -96.67 | 115.0 | 2.91 | -50.0 | -96.14 |
| 21Q2 (10) | 18.03 | -1.9 | 792.57 | -6.38 | 19.04 | 98.33 | 4.62 | 143.75 | 101.81 | 4.61 | 143.66 | 101.81 | 9.49 | 147.33 | 125.08 | 0.77 | 156.62 | 146.95 | 0.15 | 7.14 | 1400.0 | 9.26 | 263.6 | 106.95 | 1231.28 | -9.78 | -51.33 | -150.00 | -325.0 | -195.45 | 300.00 | 1700.0 | 625.0 | 5.82 | -1.19 | 0 |
| 21Q1 (9) | 18.38 | 215.09 | -1.02 | -7.88 | 88.44 | 99.12 | -10.56 | 83.58 | 99.16 | -10.56 | 83.58 | 99.16 | -20.05 | 85.47 | 63.7 | -1.36 | 79.73 | 64.68 | 0.14 | 27.27 | 0 | -5.66 | 90.16 | 99.6 | 1364.78 | 14.86 | -16.71 | 66.67 | -38.1 | -5.56 | 16.67 | 316.67 | -43.33 | 5.89 | 75.3 | -98.3 |
| 20Q4 (8) | -15.97 | -172.69 | 95.02 | -68.17 | 53.02 | 72.3 | -64.33 | 25.07 | 85.26 | -64.33 | 25.07 | 85.26 | -138.00 | -132.75 | -121.54 | -6.71 | -341.45 | -125.17 | 0.11 | 450.0 | 1000.0 | -57.50 | -15.0 | 84.32 | 1188.18 | -75.73 | 13.72 | 107.69 | -41.26 | 100.0 | -7.69 | 88.46 | -120.0 | 3.36 | -95.55 | -98.88 |
| 20Q3 (7) | 21.97 | 987.62 | -47.15 | -145.09 | 61.99 | 35.88 | -85.85 | 66.33 | -566.07 | -85.85 | 66.33 | -566.07 | -59.29 | -56.69 | -266.69 | -1.52 | 7.32 | -760.87 | 0.02 | 100.0 | 100.0 | -50.00 | 62.5 | -225.0 | 4894.79 | 93.49 | -75.11 | 183.33 | 16.67 | 118.33 | -66.67 | -16.67 | -106.06 | 75.45 | 0 | -36.3 |
| 20Q2 (6) | 2.02 | -89.12 | -94.83 | -381.71 | 57.49 | -47.03 | -254.97 | 79.65 | -126.26 | -254.97 | 79.65 | -126.26 | -37.84 | 31.5 | 73.33 | -1.64 | 57.4 | -16.31 | 0.01 | 0 | 0.0 | -133.33 | 90.48 | -122.22 | 2529.68 | 54.38 | -80.19 | 157.14 | 122.62 | -34.52 | -57.14 | -294.29 | 59.18 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 18.57 | 105.79 | -8.11 | -897.93 | -264.86 | -243.34 | -1252.96 | -187.05 | -327.85 | -1252.96 | -187.05 | -327.85 | -55.24 | 11.32 | 58.41 | -3.85 | -29.19 | -38.49 | 0.00 | -100.0 | -100.0 | -1400.00 | -281.81 | -522.22 | 1638.57 | 56.83 | -79.44 | 70.59 | 31.09 | -22.35 | 29.41 | -23.53 | 223.53 | 347.41 | 16.32 | 189.58 |
| 19Q4 (4) | -320.56 | -871.13 | 0.0 | -246.10 | -8.76 | 0.0 | -436.50 | -2469.71 | 0.0 | -436.50 | -2469.71 | 0.0 | -62.29 | -275.12 | 0.0 | -2.98 | -1395.65 | 0.0 | 0.01 | 0.0 | 0.0 | -366.67 | -1016.68 | 0.0 | 1044.81 | -94.69 | 0.0 | 53.85 | 105.38 | 0.0 | 38.46 | -96.5 | 0.0 | 298.68 | 152.18 | 0.0 |
| 19Q3 (3) | 41.57 | 6.48 | 0.0 | -226.27 | 12.85 | 0.0 | 18.42 | 116.35 | 0.0 | 18.42 | 116.35 | 0.0 | 35.57 | 125.07 | 0.0 | 0.23 | 116.31 | 0.0 | 0.01 | 0.0 | 0.0 | 40.00 | 166.67 | 0.0 | 19669.40 | 54.05 | 0.0 | -1000.00 | -516.67 | 0.0 | 1100.00 | 885.71 | 0.0 | 118.44 | -30.89 | 0.0 |
| 19Q2 (2) | 39.04 | 93.17 | 0.0 | -259.62 | 0.73 | 0.0 | -112.69 | 61.52 | 0.0 | -112.69 | 61.52 | 0.0 | -141.90 | -6.83 | 0.0 | -1.41 | 49.28 | 0.0 | 0.01 | 0.0 | 0.0 | -60.00 | 73.33 | 0.0 | 12768.40 | 60.2 | 0.0 | 240.00 | 164.0 | 0.0 | -140.00 | -1640.0 | 0.0 | 171.39 | 42.86 | 0.0 |
| 19Q1 (1) | 20.21 | 0.0 | 0.0 | -261.53 | 0.0 | 0.0 | -292.85 | 0.0 | 0.0 | -292.85 | 0.0 | 0.0 | -132.83 | 0.0 | 0.0 | -2.78 | 0.0 | 0.0 | 0.01 | 0.0 | 0.0 | -225.00 | 0.0 | 0.0 | 7970.52 | 0.0 | 0.0 | 90.91 | 0.0 | 0.0 | 9.09 | 0.0 | 0.0 | 119.97 | 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) | 16.41 | 3.21 | 1.81 | -67.56 | 2.11 | 368.42 | 3.97 | -89.48 | 3.34 | -91.04 | 3.42 | -97.98 | 2.74 | -94.43 | 0.57 | -56.15 | 7.89 | -79.71 | 75.83 | -9.09 | 37.50 | 152.0 | 50.00 | -41.26 | 0.00 | 0 | 5.61 | 131.82 |
| 2022 (9) | 15.90 | -20.86 | 5.58 | 389.47 | 0.45 | -79.84 | 37.74 | 0 | 37.27 | 0 | 169.59 | 0 | 49.23 | 0 | 1.30 | 51.16 | 38.88 | 0 | 83.41 | -97.51 | 14.88 | 0 | 85.12 | -20.09 | 0.00 | 0 | 2.42 | -35.64 |
| 2021 (8) | 20.09 | 0 | 1.14 | 0 | 2.23 | -85.51 | -14.60 | 0 | -15.21 | 0 | -236.79 | 0 | -12.67 | 0 | 0.86 | 561.54 | -11.78 | 0 | 3345.48 | 181.56 | -8.70 | 0 | 106.52 | 0 | 0.00 | 0 | 3.76 | -86.2 |
| 2020 (7) | -8.62 | 0 | -117.54 | 0 | 15.38 | -50.77 | -108.44 | 0 | -108.44 | 0 | -164.11 | 0 | -12.87 | 0 | 0.13 | 225.0 | -84.62 | 0 | 1188.18 | 13.72 | 107.02 | -23.17 | -8.77 | 0 | 0.26 | -85.97 | 27.25 | -83.72 |
| 2019 (6) | -30.20 | 0 | -248.06 | 0 | 31.25 | 212.5 | -176.38 | 0 | -176.38 | 0 | -110.92 | 0 | -6.42 | 0 | 0.04 | -33.33 | -131.25 | 0 | 1044.81 | -68.65 | 139.29 | 50.99 | -39.29 | 0 | 1.82 | -51.39 | 167.40 | 127.32 |
| 2018 (5) | -16.27 | 0 | -925.38 | 0 | 10.00 | 271.25 | -1004.03 | 0 | -1004.03 | 0 | -189.63 | 0 | -60.60 | 0 | 0.06 | -83.33 | -982.50 | 0 | 3332.90 | 2615.19 | 92.25 | 12.13 | 7.75 | -56.29 | 3.74 | 0 | 73.64 | 459.15 |
| 2017 (4) | -0.45 | 0 | -38.95 | 0 | 2.69 | -35.93 | -47.30 | 0 | -47.30 | 0 | -29.05 | 0 | -16.70 | 0 | 0.36 | -44.62 | -41.75 | 0 | 122.75 | 264.35 | 82.27 | -32.1 | 17.73 | 0 | 0.00 | 0 | 13.17 | 87.34 |
| 2016 (3) | 2.41 | 0 | -9.52 | 0 | 4.20 | -60.32 | -7.78 | 0 | -7.75 | 0 | -7.82 | 0 | -4.60 | 0 | 0.65 | 96.97 | -1.95 | 0 | 33.69 | -51.93 | 121.15 | 91.94 | -23.08 | 0 | 0.00 | 0 | 7.03 | -32.66 |
| 2015 (2) | -3.54 | 0 | -19.59 | 0 | 10.60 | 62.77 | -31.06 | 0 | -31.15 | 0 | -16.96 | 0 | -9.59 | 0 | 0.33 | -29.79 | -18.10 | 0 | 70.08 | 7.82 | 63.12 | -56.72 | 36.88 | 0 | 0.00 | 0 | 10.44 | 61.36 |
| 2014 (1) | 5.85 | 0 | -4.82 | 0 | 6.51 | 38.1 | -3.38 | 0 | -3.40 | 0 | -2.72 | 0 | -1.03 | 0 | 0.47 | 2.17 | 4.85 | -65.28 | 65.00 | -15.85 | 145.83 | 0 | -41.67 | 0 | 0.00 | 0 | 6.47 | -24.33 |
