- 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) | 2.68 | 6.35 | 458.33 | -7.56 | 12.09 | 15.53 | -10.00 | -30.21 | 9.5 | -10.00 | -30.21 | 9.5 | -2.07 | -38.93 | -3.5 | -0.73 | -48.98 | 10.98 | 0.10 | 11.11 | 11.11 | -1.09 | -171.24 | 60.07 | 115.18 | -0.91 | 9.22 | 75.00 | -34.78 | -8.7 | 25.00 | 350.0 | 40.0 | 6.97 | 3.87 | 3.26 |
| 23Q3 (19) | 2.52 | -67.06 | 198.05 | -8.60 | -1586.27 | 36.39 | -7.68 | -1029.41 | 36.21 | -7.68 | -1029.41 | 36.21 | -1.49 | -776.47 | 27.67 | -0.49 | -450.0 | 44.94 | 0.09 | -25.0 | 0.0 | 1.53 | -75.24 | 142.03 | 116.24 | 6.87 | 15.57 | 115.00 | 15.0 | 4.55 | -10.00 | -120.0 | 25.0 | 6.71 | 23.35 | -10.29 |
| 23Q2 (18) | 7.65 | 4881.25 | 19225.0 | -0.51 | 95.4 | 94.3 | -0.68 | 94.38 | 92.54 | -0.68 | 94.38 | 92.54 | -0.17 | 92.61 | 90.12 | 0.14 | 115.73 | 118.67 | 0.12 | 33.33 | 20.0 | 6.18 | 280.7 | 384.79 | 108.77 | -7.48 | 12.48 | 100.00 | 10.34 | 0.0 | 50.00 | 433.33 | 0 | 5.44 | -21.95 | -18.07 |
| 23Q1 (17) | -0.16 | -133.33 | -109.3 | -11.09 | -23.91 | -129.13 | -12.10 | -9.5 | -196.57 | -12.10 | -9.5 | -196.57 | -2.30 | -15.0 | -119.05 | -0.89 | -8.54 | -106.98 | 0.09 | 0.0 | -30.77 | -3.42 | -25.27 | -532.91 | 117.57 | 11.48 | 21.22 | 90.62 | 10.33 | -19.44 | 9.38 | -47.5 | 150.0 | 6.97 | 3.26 | 41.96 |
| 22Q4 (16) | 0.48 | 118.68 | 124.24 | -8.95 | 33.8 | -7.96 | -11.05 | 8.22 | -31.55 | -11.05 | 8.22 | -31.55 | -2.00 | 2.91 | 9.91 | -0.82 | 7.87 | 21.9 | 0.09 | 0.0 | -35.71 | -2.73 | 25.0 | 32.26 | 105.46 | 4.85 | 14.88 | 82.14 | -25.32 | -17.86 | 17.86 | 233.93 | 0 | 6.75 | -9.76 | 50.0 |
| 22Q3 (15) | -2.57 | -6325.0 | 52.41 | -13.52 | -51.06 | -3.6 | -12.04 | -32.02 | 8.02 | -12.04 | -32.02 | 8.02 | -2.06 | -19.77 | 16.6 | -0.89 | -18.67 | 25.83 | 0.09 | -10.0 | -10.0 | -3.64 | -67.74 | 49.58 | 100.58 | 4.01 | 9.21 | 110.00 | 10.0 | 10.0 | -13.33 | 0 | 0 | 7.48 | 12.65 | 47.24 |
| 22Q2 (14) | -0.04 | -102.33 | -100.58 | -8.95 | -84.92 | -2386.11 | -9.12 | -123.53 | -542.25 | -9.12 | -123.53 | -542.25 | -1.72 | -63.81 | -473.33 | -0.75 | -74.42 | -1150.0 | 0.10 | -23.08 | -9.09 | -2.17 | -374.68 | -160.78 | 96.70 | -0.3 | 8.3 | 100.00 | -11.11 | 400.0 | -0.00 | 100.0 | -100.0 | 6.64 | 35.23 | 36.34 |
| 22Q1 (13) | 1.72 | 186.87 | -24.23 | -4.84 | 41.62 | -56.63 | -4.08 | 51.43 | 15.35 | -4.08 | 51.43 | 15.35 | -1.05 | 52.7 | 25.0 | -0.43 | 59.05 | 35.82 | 0.13 | -7.14 | -18.75 | 0.79 | 119.6 | 160.77 | 96.99 | 5.65 | 10.47 | 112.50 | 12.5 | 76.79 | -18.75 | 0 | -151.56 | 4.91 | 9.11 | 25.9 |
| 21Q4 (12) | -1.98 | 63.33 | -371.43 | -8.29 | 36.48 | -201.45 | -8.40 | 35.83 | -138.64 | -8.40 | 35.83 | -138.64 | -2.22 | 10.12 | 7.5 | -1.05 | 12.5 | 13.93 | 0.14 | 40.0 | -63.16 | -4.03 | 44.18 | -100.5 | 91.80 | -0.33 | 12.86 | 100.00 | 0.0 | 30.0 | -0.00 | 0 | -100.0 | 4.50 | -11.42 | 204.05 |
| 21Q3 (11) | -5.40 | -177.81 | -285.57 | -13.05 | -3525.0 | -1600.0 | -13.09 | -821.83 | -843.75 | -13.09 | -821.83 | -843.75 | -2.47 | -723.33 | -292.97 | -1.20 | -1900.0 | -248.15 | 0.10 | -9.09 | -75.0 | -7.22 | -302.24 | -329.94 | 92.10 | 3.15 | 11.92 | 100.00 | 400.0 | 110.0 | -0.00 | -100.0 | -100.0 | 5.08 | 4.31 | 243.24 |
| 21Q2 (10) | 6.94 | 205.73 | 174.7 | -0.36 | 88.35 | 97.74 | -1.42 | 70.54 | 91.39 | -1.42 | 70.54 | 91.33 | -0.30 | 78.57 | 91.33 | -0.06 | 91.04 | 96.72 | 0.11 | -31.25 | -8.33 | 3.57 | 374.62 | 129.95 | 89.29 | 1.7 | 13.69 | 20.00 | -68.57 | -79.27 | 80.00 | 120.0 | 2180.0 | 4.87 | 24.87 | 0 |
| 21Q1 (9) | 2.27 | 640.48 | 127.68 | -3.09 | -12.36 | 78.47 | -4.82 | -36.93 | 61.99 | -4.82 | -36.93 | 61.99 | -1.40 | 41.67 | 51.72 | -0.67 | 45.08 | 56.77 | 0.16 | -57.89 | 23.08 | -1.30 | 35.32 | 84.32 | 87.80 | 7.94 | 8.25 | 63.64 | -17.27 | -43.31 | 36.36 | 77.27 | 396.97 | 3.90 | 163.51 | -2.01 |
| 20Q4 (8) | -0.42 | -114.43 | -171.19 | -2.75 | -416.09 | 49.07 | -3.52 | -300.0 | 48.54 | -3.52 | -300.0 | 48.54 | -2.40 | -287.5 | -67.83 | -1.22 | -250.62 | -64.86 | 0.38 | -5.0 | 216.67 | -2.01 | -164.01 | 9.46 | 81.34 | -1.15 | 14.63 | 76.92 | 61.54 | 1.21 | 20.51 | -56.92 | 2.56 | 1.48 | 0.0 | 0 |
| 20Q3 (7) | 2.91 | 131.32 | -47.28 | 0.87 | 105.47 | 102.33 | 1.76 | 110.67 | 22.22 | 1.76 | 110.74 | 22.22 | 1.28 | 136.99 | 190.91 | 0.81 | 144.26 | 125.0 | 0.40 | 233.33 | 122.22 | 3.14 | 126.34 | -30.68 | 82.29 | 4.77 | 19.09 | 47.62 | -50.65 | 90.48 | 47.62 | 1257.14 | -23.81 | 1.48 | 0 | -3.9 |
| 20Q2 (6) | -9.29 | -13.29 | -1995.92 | -15.91 | -10.87 | -168.75 | -16.50 | -30.13 | -396.23 | -16.38 | -29.18 | -394.08 | -3.46 | -19.31 | -372.44 | -1.83 | -18.06 | -317.86 | 0.12 | -7.69 | -7.69 | -11.92 | -43.79 | -220.16 | 78.54 | -3.17 | 9.08 | 96.49 | -14.04 | 192.3 | 3.51 | 128.65 | -98.28 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | -8.20 | -1489.83 | -217.31 | -14.35 | -165.74 | -1493.2 | -12.68 | -85.38 | -1147.93 | -12.68 | -85.38 | -1156.67 | -2.90 | -102.8 | -1035.48 | -1.55 | -109.46 | -653.57 | 0.13 | 8.33 | -7.14 | -8.29 | -273.42 | -252.11 | 81.11 | 14.3 | 3.68 | 112.24 | 47.69 | 12.24 | -12.24 | -161.22 | -161.22 | 3.98 | 0 | 1.53 |
| 19Q4 (4) | 0.59 | -89.31 | 0.0 | -5.40 | -1355.81 | 0.0 | -6.84 | -575.0 | 0.0 | -6.84 | -575.0 | 0.0 | -1.43 | -425.0 | 0.0 | -0.74 | -305.56 | 0.0 | 0.12 | -33.33 | 0.0 | -2.22 | -149.01 | 0.0 | 70.96 | 2.69 | 0.0 | 76.00 | 204.0 | 0.0 | 20.00 | -68.0 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 5.52 | 1026.53 | 0.0 | 0.43 | 107.26 | 0.0 | 1.44 | -74.15 | 0.0 | 1.44 | -74.15 | 0.0 | 0.44 | -65.35 | 0.0 | 0.36 | -57.14 | 0.0 | 0.18 | 38.46 | 0.0 | 4.53 | -54.33 | 0.0 | 69.10 | -4.03 | 0.0 | 25.00 | 123.91 | 0.0 | 62.50 | -69.44 | 0.0 | 1.54 | -77.45 | 0.0 |
| 19Q2 (2) | 0.49 | -92.99 | 0.0 | -5.92 | -674.76 | 0.0 | 5.57 | 360.33 | 0.0 | 5.57 | 364.17 | 0.0 | 1.27 | 309.68 | 0.0 | 0.84 | 200.0 | 0.0 | 0.13 | -7.14 | 0.0 | 9.92 | 82.02 | 0.0 | 72.00 | -7.96 | 0.0 | -104.55 | -204.55 | 0.0 | 204.55 | 922.73 | 0.0 | 6.83 | 74.23 | 0.0 |
| 19Q1 (1) | 6.99 | 0.0 | 0.0 | 1.03 | 0.0 | 0.0 | 1.21 | 0.0 | 0.0 | 1.20 | 0.0 | 0.0 | 0.31 | 0.0 | 0.0 | 0.28 | 0.0 | 0.0 | 0.14 | 0.0 | 0.0 | 5.45 | 0.0 | 0.0 | 78.23 | 0.0 | 0.0 | 100.00 | 0.0 | 0.0 | 20.00 | 0.0 | 0.0 | 3.92 | 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) | 3.47 | 2791.67 | -6.51 | 0 | 5.61 | 6.94 | -7.17 | 0 | -7.17 | 0 | -6.03 | 0 | -1.99 | 0 | 0.40 | -2.44 | 1.23 | 0 | 115.18 | 9.22 | 90.24 | -10.66 | 8.54 | 0 | 0.00 | 0 | 6.45 | 2.87 |
| 2022 (9) | 0.12 | -82.61 | -8.57 | 0 | 5.25 | 44.27 | -8.50 | 0 | -8.50 | 0 | -6.84 | 0 | -2.89 | 0 | 0.41 | -21.15 | -1.55 | 0 | 105.46 | 14.88 | 101.01 | 15.1 | -1.01 | 0 | 0.00 | 0 | 6.27 | 39.02 |
| 2021 (8) | 0.69 | 0 | -5.82 | 0 | 3.64 | 110.28 | -6.63 | 0 | -6.63 | 0 | -6.39 | 0 | -3.04 | 0 | 0.52 | -49.51 | -2.09 | 0 | 91.80 | 12.86 | 87.76 | -16.3 | 12.24 | 0 | 0.00 | 0 | 4.51 | 107.83 |
| 2020 (7) | -1.13 | 0 | -4.33 | 0 | 1.73 | -43.71 | -4.12 | 0 | -4.10 | 0 | -7.47 | 0 | -3.85 | 0 | 1.03 | 80.7 | -1.93 | 0 | 81.34 | 14.63 | 104.84 | 0 | -4.84 | 0 | 0.00 | 0 | 2.17 | -46.55 |
| 2019 (6) | 3.72 | 0 | -2.08 | 0 | 3.07 | 5.27 | 0.59 | 0 | 0.59 | 0 | 0.60 | 0 | 0.76 | 0 | 0.57 | -10.94 | 4.64 | 0 | 70.96 | -14.69 | -360.00 | 0 | 460.00 | 981.2 | 0.00 | 0 | 4.06 | 16.33 |
| 2018 (5) | -2.13 | 0 | -7.44 | 0 | 2.92 | 15.12 | -12.95 | 0 | -12.73 | 0 | -14.65 | 0 | -7.77 | 0 | 0.64 | 4.92 | -9.23 | 0 | 83.18 | 9.84 | 57.45 | -31.96 | 42.55 | 173.51 | 0.00 | 0 | 3.49 | -10.97 |
| 2017 (4) | 1.62 | 0 | -3.50 | 0 | 2.54 | 119.26 | -4.15 | 0 | -4.00 | 0 | -4.27 | 0 | -2.08 | 0 | 0.61 | -8.96 | -0.92 | 0 | 75.73 | -1.37 | 84.44 | -10.67 | 15.56 | 184.44 | 0.00 | 0 | 3.92 | -12.89 |
| 2016 (3) | -0.48 | 0 | -4.99 | 0 | 1.16 | -16.22 | -5.30 | 0 | -5.22 | 0 | -5.89 | 0 | -3.34 | 0 | 0.67 | 4.69 | -3.88 | 0 | 76.78 | 26.91 | 94.53 | -0.93 | 5.47 | 19.4 | 0.00 | 0 | 4.50 | -2.39 |
| 2015 (2) | -0.60 | 0 | -5.40 | 0 | 1.38 | 20.62 | -5.66 | 0 | -5.49 | 0 | -5.58 | 0 | -3.34 | 0 | 0.64 | -20.99 | -4.01 | 0 | 60.50 | 1.8 | 95.42 | 1.51 | 4.58 | -23.66 | 0.00 | 0 | 4.61 | 13.27 |
| 2014 (1) | 6.05 | 0 | 1.64 | 0 | 1.15 | 37.15 | 1.74 | 0 | 1.30 | 0 | 1.61 | 0 | 1.21 | 0 | 0.81 | -38.17 | 3.12 | 0 | 59.43 | 31.63 | 94.00 | -16.19 | 6.00 | 0 | 0.00 | 0 | 4.07 | 43.31 |
