- 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) | 11.04 | -25.51 | -44.13 | 2.08 | 3.48 | -76.81 | -80.85 | -1191.09 | -5029.88 | -80.95 | -1195.4 | -5035.98 | -18.05 | -1499.22 | -5408.82 | -7.18 | -752.73 | -2275.76 | 0.09 | -10.0 | -30.77 | -58.17 | -294.29 | -1120.53 | 158.20 | 25.49 | 197.98 | -2.38 | -107.74 | -100.42 | 102.98 | 33.87 | 122.07 | 11.21 | -14.62 | -15.27 |
| 23Q3 (19) | 14.82 | 85.25 | 0.41 | 2.01 | 155.83 | 486.54 | 7.41 | -40.81 | -22.33 | 7.39 | -39.03 | -22.62 | 1.29 | -33.51 | -10.42 | 1.10 | -23.61 | 5.77 | 0.10 | -9.09 | 11.11 | 29.94 | -8.41 | 90.58 | 126.07 | 221.77 | 116.95 | 30.77 | 197.44 | 500.0 | 76.92 | -41.54 | -28.57 | 13.13 | -19.2 | -25.36 |
| 23Q2 (18) | 8.00 | 46.52 | -46.6 | -3.60 | 33.21 | -490.16 | 12.52 | 572.45 | 70.11 | 12.12 | 557.36 | 68.8 | 1.94 | 521.74 | 106.38 | 1.44 | 820.0 | 97.26 | 0.11 | 0.0 | 37.5 | 32.69 | 163.2 | 134.67 | 39.18 | -16.42 | -33.58 | -31.58 | -114.04 | -184.21 | 131.58 | 231.58 | 18.42 | 16.25 | 7.33 | -13.88 |
| 23Q1 (17) | 5.46 | -72.37 | -55.93 | -5.39 | -160.09 | -1784.38 | -2.65 | -261.59 | 97.06 | -2.65 | -261.59 | 97.06 | -0.46 | -235.29 | 96.54 | -0.20 | -160.61 | 97.29 | 0.11 | -15.38 | 37.5 | 12.42 | 117.89 | 115.17 | 46.88 | -11.7 | -28.15 | 225.00 | -60.29 | 0 | -100.00 | 78.57 | -200.0 | 15.14 | 14.44 | -0.66 |
| 22Q4 (16) | 19.76 | 33.88 | 22.13 | 8.97 | 1825.0 | 57.64 | 1.64 | -82.81 | 133.95 | 1.64 | -82.83 | 133.95 | 0.34 | -76.39 | 144.74 | 0.33 | -68.27 | 232.0 | 0.13 | 44.44 | 62.5 | 5.70 | -63.72 | 143.59 | 53.09 | -8.64 | -38.22 | 566.67 | 7466.67 | 553.33 | -466.67 | -533.33 | -307.41 | 13.23 | -24.79 | -38.52 |
| 22Q3 (15) | 14.76 | -1.47 | -5.93 | -0.52 | 14.75 | -119.92 | 9.54 | 29.62 | 174.93 | 9.55 | 33.01 | 328.25 | 1.44 | 53.19 | 433.33 | 1.04 | 42.47 | 246.67 | 0.09 | 12.5 | 50.0 | 15.71 | 12.78 | 22.93 | 58.11 | -1.49 | -36.18 | -7.69 | 30.77 | -112.82 | 107.69 | -3.08 | 438.46 | 17.59 | -6.78 | -1.12 |
| 22Q2 (14) | 14.98 | 20.9 | -1.06 | -0.61 | -290.62 | -118.83 | 7.36 | 108.17 | 171.59 | 7.18 | 107.97 | 164.94 | 0.94 | 107.07 | 184.85 | 0.73 | 109.89 | 114.71 | 0.08 | 0.0 | 14.29 | 13.93 | 117.01 | 19.26 | 58.99 | -9.59 | -25.6 | -11.11 | 0 | -111.11 | 111.11 | 11.11 | 544.44 | 18.87 | 23.82 | 2.78 |
| 22Q1 (13) | 12.39 | -23.42 | -3.65 | 0.32 | -94.38 | -82.12 | -90.06 | -1764.6 | -5021.31 | -90.06 | -1764.6 | -5021.31 | -13.30 | -1650.0 | -5641.67 | -7.38 | -2852.0 | -2560.0 | 0.08 | 0.0 | 14.29 | -81.88 | -3599.15 | -872.45 | 65.25 | -24.07 | -22.18 | -0.00 | 100.0 | -100.0 | 100.00 | -55.56 | 0 | 15.24 | -29.18 | -0.2 |
| 21Q4 (12) | 16.18 | 3.12 | -29.65 | 5.69 | 118.01 | -59.42 | -4.83 | -239.19 | 90.4 | -4.83 | -316.59 | 90.4 | -0.76 | -381.48 | 87.52 | -0.25 | -183.33 | 92.75 | 0.08 | 33.33 | 14.29 | 2.34 | -81.69 | 105.34 | 85.94 | -5.61 | -3.97 | -125.00 | -308.33 | -347.12 | 225.00 | 1025.0 | 75.84 | 21.52 | 20.97 | 78.15 |
| 21Q3 (11) | 15.69 | 3.63 | -37.16 | 2.61 | -19.44 | -77.69 | 3.47 | 28.04 | -70.29 | 2.23 | -17.71 | -80.91 | 0.27 | -18.18 | -73.79 | 0.30 | -11.76 | -60.0 | 0.06 | -14.29 | 20.0 | 12.78 | 9.42 | -31.55 | 91.05 | 14.83 | 59.99 | 60.00 | -40.0 | -40.0 | 20.00 | 180.0 | 0 | 17.79 | -3.1 | 16.05 |
| 21Q2 (10) | 15.14 | 17.73 | -24.71 | 3.24 | 81.01 | 52.83 | 2.71 | 48.09 | -99.62 | 2.71 | 48.09 | -99.58 | 0.33 | 37.5 | -99.48 | 0.34 | 13.33 | -98.85 | 0.07 | 0.0 | 40.0 | 11.68 | 10.19 | -98.36 | 79.29 | -5.44 | 2.13 | 100.00 | 0.0 | 33066.67 | -25.00 | 0 | -125.08 | 18.36 | 20.24 | 0 |
| 21Q1 (9) | 12.86 | -44.09 | 268.48 | 1.79 | -87.23 | 121.31 | 1.83 | 103.64 | -91.03 | 1.83 | 103.64 | -91.03 | 0.24 | 103.94 | -95.7 | 0.30 | 108.7 | -84.38 | 0.07 | 0.0 | -12.5 | 10.60 | 124.21 | -84.57 | 83.85 | -6.3 | -54.37 | 100.00 | 457.69 | 340.91 | 0.00 | -100.0 | -100.0 | 15.27 | 26.41 | 14.81 |
| 20Q4 (8) | 23.00 | -7.89 | 336.43 | 14.02 | 19.83 | 130.36 | -50.29 | -530.57 | 5.89 | -50.29 | -530.57 | 5.89 | -6.09 | -691.26 | 65.46 | -3.45 | -560.0 | 13.32 | 0.07 | 40.0 | -12.5 | -43.78 | -334.49 | -2241.18 | 89.49 | 57.25 | -71.52 | -27.96 | -127.96 | -132.49 | 127.96 | 0 | 856.9 | 12.08 | -21.2 | 23.01 |
| 20Q3 (7) | 24.97 | 24.17 | 1250.69 | 11.70 | 451.89 | 162.37 | 11.68 | -98.38 | 147.29 | 11.68 | -98.19 | 147.29 | 1.03 | -98.36 | 114.91 | 0.75 | -97.46 | 153.57 | 0.05 | 0.0 | -28.57 | 18.67 | -97.37 | -36.82 | 56.91 | -26.7 | -81.41 | 100.00 | 33066.67 | 30.91 | 0.00 | -100.0 | -100.0 | 15.33 | 0 | 17.47 |
| 20Q2 (6) | 20.11 | 476.22 | 661.73 | 2.12 | 125.24 | 113.78 | 721.25 | 3433.81 | 5572.31 | 645.19 | 3061.15 | 5070.65 | 62.95 | 1028.14 | 2013.37 | 29.56 | 1439.58 | 6012.0 | 0.05 | -37.5 | -16.67 | 710.87 | 934.75 | 1476.56 | 77.64 | -57.75 | -74.28 | 0.30 | 100.73 | -99.74 | 99.70 | -29.55 | 698.19 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 3.49 | -33.78 | 146.41 | -8.40 | 81.81 | 66.67 | 20.41 | 138.19 | 169.97 | 20.41 | 138.19 | 169.97 | 5.58 | 131.65 | 173.32 | 1.92 | 148.24 | 189.3 | 0.08 | 0.0 | -11.11 | 68.70 | 3773.8 | 157.59 | 183.77 | -41.51 | -42.29 | -41.51 | -148.24 | -148.15 | 141.51 | 958.24 | 925.94 | 13.30 | 35.44 | -47.08 |
| 19Q4 (4) | 5.27 | 342.86 | 0.0 | -46.18 | -146.16 | 0.0 | -53.44 | -116.36 | 0.0 | -53.44 | -116.36 | 0.0 | -17.63 | -155.14 | 0.0 | -3.98 | -184.29 | 0.0 | 0.08 | 14.29 | 0.0 | -1.87 | -106.33 | 0.0 | 314.17 | 2.65 | 0.0 | 86.05 | 12.64 | 0.0 | 13.37 | -43.37 | 0.0 | 9.82 | -24.75 | 0.0 |
| 19Q3 (3) | -2.17 | 39.39 | 0.0 | -18.76 | -21.9 | 0.0 | -24.70 | -87.41 | 0.0 | -24.70 | -90.29 | 0.0 | -6.91 | -110.03 | 0.0 | -1.40 | -180.0 | 0.0 | 0.07 | 16.67 | 0.0 | 29.55 | -34.46 | 0.0 | 306.06 | 1.41 | 0.0 | 76.39 | -34.52 | 0.0 | 23.61 | 241.67 | 0.0 | 13.05 | -7.12 | 0.0 |
| 19Q2 (2) | -3.58 | 52.39 | 0.0 | -15.39 | 38.93 | 0.0 | -13.18 | 54.82 | 0.0 | -12.98 | 55.5 | 0.0 | -3.29 | 56.77 | 0.0 | -0.50 | 76.74 | 0.0 | 0.06 | -33.33 | 0.0 | 45.09 | 69.07 | 0.0 | 301.81 | -5.22 | 0.0 | 116.67 | 35.33 | 0.0 | -16.67 | -220.83 | 0.0 | 14.05 | -44.09 | 0.0 |
| 19Q1 (1) | -7.52 | 0.0 | 0.0 | -25.20 | 0.0 | 0.0 | -29.17 | 0.0 | 0.0 | -29.17 | 0.0 | 0.0 | -7.61 | 0.0 | 0.0 | -2.15 | 0.0 | 0.0 | 0.09 | 0.0 | 0.0 | 26.67 | 0.0 | 0.0 | 318.43 | 0.0 | 0.0 | 86.21 | 0.0 | 0.0 | 13.79 | 0.0 | 0.0 | 25.13 | 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) | 10.04 | -36.54 | -0.91 | 0 | 17.26 | 317.03 | -19.98 | 0 | -20.11 | 0 | -15.92 | 0 | -6.88 | 0 | 0.39 | 11.43 | 0.43 | 0 | 158.20 | 197.98 | 4.29 | 0 | 95.71 | -16.54 | 0.00 | 0 | 13.71 | -13.61 |
| 2022 (9) | 15.82 | 5.61 | 2.71 | -21.22 | 4.14 | -23.56 | -17.96 | 0 | -18.00 | 0 | -10.84 | 0 | -5.84 | 0 | 0.35 | 25.0 | -12.09 | 0 | 53.09 | -38.22 | -14.68 | 0 | 114.68 | 0 | 0.00 | 0 | 15.87 | -13.56 |
| 2021 (8) | 14.98 | -6.96 | 3.44 | -1.71 | 5.41 | -61.69 | 0.48 | -99.63 | 0.20 | -99.83 | 0.11 | -99.87 | 0.70 | -97.62 | 0.28 | 12.0 | 8.80 | -94.06 | 85.94 | -3.97 | 666.67 | 24900.0 | -566.67 | 0 | 0.00 | 0 | 18.36 | 22.81 |
| 2020 (7) | 16.10 | 0 | 3.50 | 0 | 14.13 | -71.35 | 130.03 | 0 | 116.04 | 0 | 83.11 | 0 | 29.41 | 0 | 0.25 | -35.9 | 148.13 | 516.44 | 89.49 | -71.52 | 2.67 | -96.95 | 97.33 | 676.55 | 0.00 | 0 | 14.95 | -3.3 |
| 2019 (6) | -1.84 | 0 | -27.03 | 0 | 49.33 | 926.75 | -30.94 | 0 | -30.89 | 0 | -34.46 | 0 | -10.31 | 0 | 0.39 | -13.33 | 24.03 | 100.08 | 314.17 | 274.73 | 87.47 | 345.28 | 12.53 | -84.4 | 2.21 | -29.84 | 15.46 | -19.18 |
| 2018 (5) | 11.40 | 6.44 | 1.38 | -15.85 | 4.80 | -7.08 | 7.02 | 1426.09 | 6.76 | 1369.57 | 4.69 | 1412.9 | 3.06 | 1124.0 | 0.45 | -15.09 | 12.01 | 110.33 | 83.84 | 229.69 | 19.64 | -95.09 | 80.36 | 0 | 3.15 | 0 | 19.13 | -7.23 |
| 2017 (4) | 10.71 | 15.91 | 1.64 | 0 | 5.17 | -8.26 | 0.46 | -98.93 | 0.46 | -97.63 | 0.31 | -98.89 | 0.25 | -98.56 | 0.53 | 32.5 | 5.71 | -88.45 | 25.43 | -4.69 | 400.00 | 0 | -300.00 | 0 | 0.00 | 0 | 20.62 | -42.59 |
| 2016 (3) | 9.24 | -4.64 | -1.59 | 0 | 5.64 | -60.4 | 43.11 | 4390.62 | 19.40 | 0 | 27.86 | 2832.63 | 17.37 | 2614.06 | 0.40 | 2.56 | 49.42 | 206.01 | 26.68 | -73.59 | -3.69 | 0 | 103.69 | -24.59 | 0.00 | 0 | 35.92 | 23.31 |
| 2015 (2) | 9.69 | 272.69 | -0.46 | 0 | 14.23 | 64.44 | 0.96 | 0 | -40.90 | 0 | 0.95 | 0 | 0.64 | 0 | 0.39 | -36.07 | 16.15 | 0 | 101.04 | -59.04 | -50.00 | 0 | 137.50 | 7187.5 | 0.00 | 0 | 29.13 | 59.7 |
| 2014 (1) | 2.60 | 0 | -12.51 | 0 | 8.65 | 5.34 | -12.74 | 0 | -12.74 | 0 | -25.29 | 0 | -6.37 | 0 | 0.61 | 3.39 | -1.20 | 0 | 246.70 | 17.56 | 98.11 | 16.0 | 1.89 | -87.76 | 0.00 | 0 | 18.24 | -3.44 |
