欣天然 9918 - 財務比率 - 財務分析

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,營業利益率,稅前淨利率,股東權益報酬率-近20季

	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)	26.57	1.72	5.02	13.71	53.01	18.29	20.24	64.82	78.64	17.15	72.54	96.0	2.58	116.81	85.61	1.43	120.0	81.01	0.08	14.29	-11.11	33.76	14.4	38.87	81.60	2.24	4.09	68.42	-6.7	-32.85	32.63	22.37	1829.47	9.40	-48.69	-22.25
23Q3 (19)	26.12	-11.88	9.11	8.96	-37.95	46.17	12.28	-42.99	134.8	9.94	-47.24	170.11	1.19	-60.07	153.19	0.65	-59.38	150.0	0.07	-12.5	0.0	29.51	-15.05	36.49	79.81	-8.05	7.49	73.33	8.41	-39.42	26.67	-20.0	268.89	18.32	-12.3	-23.83
23Q2 (18)	29.64	-9.58	-3.42	14.44	-31.07	-29.53	21.54	-23.35	1027.75	18.84	-21.7	997.14	2.98	-40.64	1031.25	1.60	-41.82	988.89	0.08	-27.27	-11.11	34.74	-9.13	130.83	86.80	-0.39	1.57	67.65	-9.46	-93.59	33.33	31.82	103.49	20.89	38.25	80.09
23Q1 (17)	32.78	29.57	-5.12	20.95	80.76	-14.84	28.10	148.01	36.74	24.06	174.97	56.03	5.02	261.15	61.41	2.75	248.1	49.46	0.11	22.22	-8.33	38.23	57.26	27.18	87.14	11.16	27.53	74.71	-26.67	-37.58	25.29	1440.23	228.38	15.11	24.98	12.43
22Q4 (16)	25.30	5.68	-4.42	11.59	89.07	-19.29	11.33	116.63	-62.03	8.75	137.77	-67.11	1.39	195.74	-62.02	0.79	203.85	-62.02	0.09	28.57	12.5	24.31	12.44	-44.85	78.39	5.58	11.57	101.89	-15.83	110.45	-1.89	88.05	-103.66	12.09	-49.73	86.57
22Q3 (15)	23.94	-21.99	8.03	6.13	-70.08	-3.62	5.23	173.82	17.26	3.68	275.24	24.75	0.47	246.88	46.87	0.26	244.44	36.84	0.07	-22.22	16.67	21.62	43.65	-0.55	74.25	-13.12	-8.34	121.05	-88.53	-17.46	-15.79	98.35	66.17	24.05	107.33	9.22
22Q2 (14)	30.69	-11.17	-0.36	20.49	-16.71	6.44	1.91	-90.71	-91.94	-2.10	-113.62	-110.69	-0.32	-110.29	-112.4	-0.18	-109.78	-111.54	0.09	-25.0	12.5	15.05	-49.93	-59.93	85.46	25.07	33.64	1055.56	781.86	1200.14	-955.56	-4751.28	-5179.53	11.60	-13.69	-15.82
22Q1 (13)	34.55	30.53	17.84	24.60	71.31	52.61	20.55	-31.13	-21.14	15.42	-42.03	-31.98	3.11	-15.03	-28.18	1.84	-11.54	-28.68	0.12	50.0	9.09	30.06	-31.81	-16.1	68.33	-2.75	2.72	119.70	147.24	92.5	-19.70	-138.18	-151.21	13.44	107.41	-32.67
21Q4 (12)	26.47	19.45	-2.9	14.36	125.79	8.13	29.84	569.06	10.44	26.60	801.69	12.0	3.66	1043.75	6.09	2.08	994.74	1.96	0.08	33.33	-11.11	44.08	102.76	10.95	70.26	-13.27	1.52	48.41	-66.99	-1.51	51.59	210.54	1.46	6.48	-70.57	-27.68
21Q3 (11)	22.16	-28.05	18.19	6.36	-66.96	87.61	4.46	-81.19	-71.28	2.95	-84.99	-79.82	0.32	-87.6	-80.12	0.19	-87.82	-79.57	0.06	-25.0	0.0	21.74	-42.12	-32.27	81.01	26.68	18.47	146.67	80.65	566.67	-46.67	-348.07	-159.83	22.02	59.8	12.46
21Q2 (10)	30.80	5.05	3.67	19.25	19.42	12.7	23.71	-9.02	-8.77	19.65	-13.32	-12.82	2.58	-40.42	-35.01	1.56	-39.53	-32.47	0.08	-27.27	-20.0	37.56	4.83	4.13	63.95	-3.86	-16.34	81.19	30.57	22.68	18.81	-51.09	-45.57	13.78	-30.96	0
21Q1 (9)	29.32	7.56	0.0	16.12	21.39	-24.07	26.06	-3.55	108.31	22.67	-4.55	177.82	4.33	25.51	129.1	2.58	26.47	128.32	0.11	22.22	-21.43	35.83	-9.82	81.79	66.52	-3.89	-0.3	62.18	26.5	-63.69	38.46	-24.36	154.85	19.96	122.77	77.11
20Q4 (8)	27.26	45.39	35.49	13.28	291.74	52.29	27.02	73.99	109.95	23.75	62.45	116.3	3.45	114.29	86.49	2.04	119.35	85.45	0.09	50.0	-10.0	39.73	23.77	71.32	69.21	1.21	0.65	49.15	123.42	-26.84	50.85	-34.81	54.96	8.96	-54.24	12.85
20Q3 (7)	18.75	-36.89	31.86	3.39	-80.15	465.0	15.53	-40.25	299.23	14.62	-35.14	269.19	1.61	-59.45	192.73	0.93	-59.74	190.63	0.06	-40.0	-25.0	32.10	-11.01	98.52	68.38	-10.54	0.47	22.00	-66.76	76.0	78.00	125.7	-4.0	19.58	0	13.57
20Q2 (6)	29.71	1.33	11.82	17.08	-19.55	3.58	25.99	107.75	43.67	22.54	176.23	52.92	3.97	110.05	41.28	2.31	104.42	38.32	0.10	-28.57	-9.09	36.07	83.0	35.4	76.44	14.57	4.26	66.18	-61.36	-27.42	34.56	149.29	291.67	0.00	-100.0	-100.0
20Q1 (5)	29.32	45.73	29.39	21.23	143.46	70.8	12.51	-2.8	-30.35	8.16	-25.68	-47.01	1.89	2.16	-48.08	1.13	2.73	-49.33	0.14	40.0	0.0	19.71	-15.01	-20.72	66.72	-2.97	6.09	171.26	154.91	148.04	-70.11	-313.68	-326.53	11.27	41.94	-23.39
19Q4 (4)	20.12	41.49	0.0	8.72	1353.33	0.0	12.87	230.85	0.0	10.98	177.27	0.0	1.85	236.36	0.0	1.10	243.75	0.0	0.10	25.0	0.0	23.19	43.41	0.0	68.76	1.03	0.0	67.19	437.5	0.0	32.81	-59.62	0.0	7.94	-53.94	0.0
19Q3 (3)	14.22	-46.48	0.0	0.60	-96.36	0.0	3.89	-78.5	0.0	3.96	-73.13	0.0	0.55	-80.43	0.0	0.32	-80.84	0.0	0.08	-27.27	0.0	16.17	-39.3	0.0	68.06	-7.17	0.0	12.50	-86.29	0.0	81.25	820.83	0.0	17.24	58.02	0.0
19Q2 (2)	26.57	17.26	0.0	16.49	32.66	0.0	18.09	0.72	0.0	14.74	-4.29	0.0	2.81	-22.8	0.0	1.67	-25.11	0.0	0.11	-21.43	0.0	26.64	7.16	0.0	73.32	16.58	0.0	91.18	32.05	0.0	8.82	-71.49	0.0	10.91	-25.83	0.0
19Q1 (1)	22.66	0.0	0.0	12.43	0.0	0.0	17.96	0.0	0.0	15.40	0.0	0.0	3.64	0.0	0.0	2.23	0.0	0.0	0.14	0.0	0.0	24.86	0.0	0.0	62.89	0.0	0.0	69.05	0.0	0.0	30.95	0.0	0.0	14.71	0.0	0.0

營業毛利率,營業利益率,稅前淨利率,股東權益報酬率-近10年

	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		用人費用率 YoY
2023 (10)	29.23	-0.51	15.31	-9.78	13.04	4.03	21.58	96.9	18.42	149.26	11.57	146.17	6.43	138.15	0.35	-5.41	34.63	47.11	81.60	4.09	70.98	-54.18	29.02	0	15.75	7.22
2022 (9)	29.38	6.37	16.97	16.47	12.54	-4.69	10.96	-50.7	7.39	-61.27	4.70	-57.39	2.70	-58.46	0.37	8.82	23.54	-33.5	78.39	11.57	154.93	136.85	-54.93	0	14.69	-6.49
2021 (8)	27.62	1.36	14.57	-5.82	13.15	22.66	22.23	12.5	19.08	15.99	11.03	2.22	6.50	1.88	0.34	-12.82	35.40	16.03	70.26	1.52	65.41	-16.26	34.34	58.75	15.71	11.26
2020 (7)	27.25	26.57	15.47	48.18	10.73	17.65	19.76	39.06	16.45	36.06	10.79	21.78	6.38	19.48	0.39	-11.36	30.51	30.83	69.21	0.65	78.12	6.59	21.63	-19.03	14.12	11.71
2019 (6)	21.53	-12.3	10.44	-22.32	9.12	13.32	14.21	2.53	12.09	15.36	8.86	13.44	5.34	9.65	0.44	-4.35	23.32	6.44	68.76	9.39	73.29	-24.44	26.71	790.34	12.64	1.85
2018 (5)	24.55	5.5	13.44	27.88	8.04	-1.8	13.86	-9.88	10.48	-18.82	7.81	-10.54	4.87	-13.5	0.46	4.55	21.91	-7.16	62.86	8.75	97.00	42.17	3.00	-90.56	12.41	-10.78
2017 (4)	23.27	-9.17	10.51	-15.38	8.19	-3.78	15.38	0.72	12.91	2.54	8.73	11.92	5.63	7.65	0.44	4.76	23.60	-0.76	57.80	10.45	68.23	-16.2	31.77	70.94	13.91	-10.03
2016 (3)	25.62	14.94	12.42	11.39	8.51	21.71	15.27	8.92	12.59	8.63	7.80	-10.03	5.23	-13.12	0.42	-19.23	23.78	13.08	52.33	13.24	81.41	2.46	18.59	-9.5	15.46	19.01
2015 (2)	22.29	32.92	11.15	32.9	6.99	30.92	14.02	78.6	11.59	76.68	8.67	34.63	6.02	31.44	0.52	-25.71	21.03	59.44	46.21	10.82	79.46	-25.63	20.54	0	12.99	36.88
2014 (1)	16.77	0	8.39	0	5.34	-5.04	7.85	0	6.56	0	6.44	0	4.58	0	0.70	1.45	13.19	-12.82	41.70	5.25	106.85	59.65	-6.85	0	9.49	-5.19