- 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 | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 22Q2 (20) | 5.25 | 143.06 | -30.56 | -45.11 | -53.64 | -46.99 | -147.69 | -369.9 | -291.85 | -147.63 | -369.86 | -291.7 | -136.75 | -718.37 | -1148.86 | -27.74 | -420.45 | -402.54 | 0.20 | 5.26 | 33.33 | -117.11 | -825.04 | -485.55 | 1182.01 | 492.28 | 1098.19 | 30.36 | -67.0 | -62.05 | 69.64 | 770.54 | 248.21 | 0.00 | -100.0 | -100.0 |
| 22Q1 (19) | 2.16 | -57.81 | -78.86 | -29.36 | 12.28 | -15.45 | -31.43 | 18.97 | -32.28 | -31.42 | 19.15 | -32.41 | -16.71 | 4.08 | -89.03 | -5.33 | 24.93 | -21.69 | 0.19 | 5.56 | 0.0 | -12.66 | 45.64 | -1.28 | 199.57 | 17.66 | 111.3 | 92.00 | 7.33 | -12.6 | 8.00 | -44.0 | 252.0 | 29.23 | 2.81 | 2.89 |
| 21Q4 (18) | 5.12 | -47.76 | -62.6 | -33.47 | -73.51 | -175.02 | -38.79 | -56.92 | -221.64 | -38.86 | -56.76 | -221.69 | -17.42 | -73.33 | -167.59 | -7.10 | -46.39 | -133.55 | 0.18 | -5.26 | -30.77 | -23.29 | -79.29 | -714.34 | 169.62 | 39.97 | 57.7 | 85.71 | 8.57 | -14.29 | 14.29 | -32.14 | 0 | 28.43 | -29.14 | 9.56 |
| 21Q3 (17) | 9.80 | 29.63 | -28.73 | -19.29 | 37.15 | 19.83 | -24.72 | 34.41 | 77.08 | -24.79 | 34.23 | 77.02 | -10.05 | 8.22 | 69.11 | -4.85 | 12.14 | 74.42 | 0.19 | 26.67 | 5.56 | -12.99 | 35.05 | 86.46 | 121.18 | 22.84 | 6.51 | 78.95 | -1.32 | 250.88 | 21.05 | 5.26 | -72.84 | 40.12 | 10.58 | -0.22 |
| 21Q2 (16) | 7.56 | -26.03 | -38.03 | -30.69 | -20.68 | -70.03 | -37.69 | -58.63 | -175.51 | -37.69 | -58.83 | -176.12 | -10.95 | -23.87 | -179.34 | -5.52 | -26.03 | -99.28 | 0.15 | -21.05 | -25.0 | -20.00 | -60.0 | -1580.67 | 98.65 | 4.45 | 110.84 | 80.00 | -24.0 | -41.33 | 20.00 | 480.0 | 155.0 | 36.28 | 27.7 | 0 |
| 21Q1 (15) | 10.22 | -25.35 | 657.04 | -25.43 | -108.96 | 70.52 | -23.76 | -97.01 | 78.33 | -23.73 | -96.44 | 78.36 | -8.84 | -35.79 | 31.37 | -4.38 | -44.08 | 54.71 | 0.19 | -26.92 | 111.11 | -12.50 | -337.06 | 85.66 | 94.45 | -12.19 | 167.11 | 105.26 | 5.26 | 33.97 | -5.26 | 0 | -124.56 | 28.41 | 9.48 | 0 |
| 20Q4 (14) | 13.69 | -0.44 | -2.35 | -12.17 | 49.42 | 15.89 | -12.06 | 88.82 | 18.18 | -12.08 | 88.8 | 17.26 | -6.51 | 79.99 | -79.83 | -3.04 | 83.97 | -10.14 | 0.26 | 44.44 | 36.84 | -2.86 | 97.02 | 57.12 | 107.56 | -5.46 | 245.63 | 100.00 | 344.44 | 0.0 | -0.00 | -100.0 | 0 | 25.95 | -35.46 | -2.99 |
| 20Q3 (13) | 13.75 | 12.7 | 125.41 | -24.06 | -33.3 | 20.96 | -107.85 | -688.38 | -294.04 | -107.89 | -690.4 | -291.9 | -32.54 | -730.1 | -499.26 | -18.96 | -584.48 | -352.51 | 0.18 | -10.0 | 20.0 | -95.95 | -7963.03 | -379.75 | 113.77 | 143.15 | 265.58 | 22.50 | -83.5 | -79.46 | 77.50 | 313.12 | 913.75 | 40.21 | 0 | 18.51 |
| 20Q2 (12) | 12.20 | 803.7 | -47.19 | -18.05 | 79.07 | -13.74 | -13.68 | 87.52 | -748.34 | -13.65 | 87.55 | -731.94 | -3.92 | 69.57 | -1325.0 | -2.77 | 71.35 | -1208.0 | 0.20 | 122.22 | 66.67 | -1.19 | 98.64 | -111.11 | 46.79 | 32.32 | 67.65 | 136.36 | 73.55 | 115.15 | -36.36 | -269.7 | -103.64 | 0.00 | 0 | -100.0 |
| 20Q1 (11) | 1.35 | -90.37 | -75.63 | -86.25 | -496.06 | -161.84 | -109.64 | -643.83 | -278.59 | -109.66 | -651.1 | -403.49 | -12.88 | -255.8 | -269.05 | -9.67 | -250.36 | -241.7 | 0.09 | -52.63 | -30.77 | -87.18 | -1207.05 | -302.31 | 35.36 | 13.62 | 32.48 | 78.57 | -21.43 | -33.21 | 21.43 | 0 | 282.14 | 0.00 | -100.0 | -100.0 |
| 19Q4 (10) | 14.02 | 129.84 | 43.35 | -14.47 | 52.46 | 81.13 | -14.74 | 46.15 | 80.29 | -14.60 | 46.97 | -234.31 | -3.62 | 33.33 | -444.76 | -2.76 | 34.13 | -440.74 | 0.19 | 26.67 | 216.67 | -6.67 | 66.65 | 89.82 | 31.12 | 0.0 | 53.0 | 100.00 | -8.7 | 0.0 | 0.00 | 100.0 | 100.0 | 26.75 | -21.16 | -55.27 |
| 19Q3 (9) | 6.10 | -73.59 | -49.04 | -30.44 | -91.81 | 4.79 | -27.37 | -1397.16 | -44.36 | -27.53 | -1374.54 | -31.66 | -5.43 | -1796.88 | -98.9 | -4.19 | -1776.0 | -128.96 | 0.15 | 25.0 | 66.67 | -20.00 | -286.74 | -160.08 | 31.12 | 11.5 | -31.2 | 109.52 | 112.17 | -35.57 | -9.52 | -100.95 | 86.39 | 33.93 | -16.3 | -26.51 |
| 19Q2 (8) | 23.10 | 316.97 | 527.78 | -15.87 | 51.82 | 59.57 | 2.11 | 107.29 | 107.42 | 2.16 | 109.92 | 108.5 | 0.32 | 109.17 | 106.43 | 0.25 | 108.83 | 107.55 | 0.12 | -7.69 | 0.0 | 10.71 | 149.42 | 145.36 | 27.91 | 4.57 | -42.47 | -900.00 | -865.0 | -775.0 | 1000.00 | 8600.0 | 2725.0 | 40.54 | 20.48 | 21.27 |
| 19Q1 (7) | 5.54 | -43.35 | 334.75 | -32.94 | 57.04 | 5.7 | -28.96 | 61.27 | 24.23 | -21.78 | -300.37 | 45.9 | -3.49 | -432.38 | 57.23 | -2.83 | -449.38 | 42.01 | 0.13 | 116.67 | 8.33 | -21.67 | 66.93 | 32.49 | 26.69 | 31.22 | -54.05 | 117.65 | 17.65 | 30.25 | -11.76 | -158.82 | -221.57 | 33.65 | -43.73 | 2.91 |
| 18Q4 (6) | 9.78 | -18.3 | 0 | -76.67 | -139.82 | 0 | -74.78 | -294.41 | 0 | 10.87 | 151.98 | 0 | 1.05 | 138.46 | 0 | 0.81 | 144.26 | 0 | 0.06 | -33.33 | 0 | -65.52 | -752.02 | 0 | 20.34 | -55.03 | 0 | 100.00 | -41.18 | 0 | -4.55 | 93.51 | 0 | 59.80 | 29.52 | 0 |
| 18Q3 (5) | 11.97 | 321.67 | 0 | -31.97 | 18.55 | 0 | -18.96 | 33.29 | 0 | -20.91 | 17.68 | 0 | -2.73 | 45.18 | 0 | -1.83 | 44.71 | 0 | 0.09 | -25.0 | 0 | -7.69 | 67.43 | 0 | 45.23 | -6.76 | 0 | 170.00 | 27.5 | 0 | -70.00 | -83.75 | 0 | 46.17 | 38.11 | 0 |
| 18Q2 (4) | -5.40 | -128.81 | 0.0 | -39.25 | -12.37 | 0.0 | -28.42 | 25.64 | 0.0 | -25.40 | 36.91 | 0.0 | -4.98 | 38.97 | 0.0 | -3.31 | 32.17 | 0.0 | 0.12 | 0.0 | 0.0 | -23.61 | 26.45 | 0.0 | 48.51 | -16.49 | 0.0 | 133.33 | 47.62 | 0.0 | -38.10 | -493.65 | 0.0 | 33.43 | 2.23 | 0.0 |
| 18Q1 (3) | -2.36 | 0 | 0.0 | -34.93 | 0 | 0.0 | -38.22 | 0 | 0.0 | -40.26 | 0 | 0.0 | -8.16 | 0 | 0.0 | -4.88 | 0 | 0.0 | 0.12 | 0 | 0.0 | -32.10 | 0 | 0.0 | 58.09 | 0 | 0.0 | 90.32 | 0 | 0.0 | 9.68 | 0 | 0.0 | 32.70 | 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 | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2021 (10) | 8.26 | -29.46 | -26.99 | 0 | 3.39 | 13.37 | -30.81 | 0 | -30.83 | 0 | -51.42 | 0 | -21.73 | 0 | 0.71 | 2.9 | -16.95 | 0 | 169.62 | 57.7 | 87.91 | 63.58 | 12.09 | -73.48 | 0.00 | 0 | 33.19 | -9.74 |
| 2020 (9) | 11.71 | -1.6 | -26.31 | 0 | 2.99 | 40.03 | -48.70 | 0 | -48.71 | 0 | -52.43 | 0 | -33.29 | 0 | 0.69 | 15.0 | -36.21 | 0 | 107.56 | 256.39 | 53.74 | -58.47 | 45.58 | 0 | 0.00 | 0 | 36.77 | 11.8 |
| 2019 (8) | 11.90 | 750.0 | -23.33 | 0 | 2.14 | -16.37 | -18.16 | 0 | -16.61 | 0 | -12.53 | 0 | -10.01 | 0 | 0.60 | 42.86 | -9.96 | 0 | 30.18 | 48.38 | 129.41 | 11.89 | -29.41 | 0 | 2.80 | 0 | 32.89 | -16.25 |
| 2018 (7) | 1.40 | 337.5 | -40.74 | 0 | 2.55 | -11.91 | -35.40 | 0 | -25.06 | 0 | -15.30 | 0 | -10.47 | 0 | 0.42 | 7.69 | -28.09 | 0 | 20.34 | -70.21 | 115.66 | 17.71 | -15.66 | 0 | 0.00 | 0 | 39.27 | -17.83 |
| 2017 (6) | 0.32 | -96.93 | -40.78 | 0 | 2.90 | 11.59 | -41.80 | 0 | -40.93 | 0 | -23.81 | 0 | -15.26 | 0 | 0.39 | -15.22 | -36.59 | 0 | 68.28 | 46.46 | 98.26 | 9.46 | 2.61 | -71.3 | 0.00 | 0 | 47.79 | 17.13 |
| 2016 (5) | 10.44 | -40.1 | -20.61 | 0 | 2.60 | -27.81 | -22.80 | 0 | -27.83 | 0 | -13.25 | 0 | -9.20 | 0 | 0.46 | -24.59 | -18.70 | 0 | 46.62 | 11.42 | 89.77 | 926.78 | 9.09 | -90.04 | 0.00 | 0 | 40.80 | 29.36 |
| 2015 (4) | 17.43 | -5.48 | -2.37 | 0 | 3.60 | 6.56 | -27.46 | 0 | -27.82 | 0 | -24.70 | 0 | -17.69 | 0 | 0.61 | -3.17 | -23.09 | 0 | 41.84 | 9.96 | 8.74 | 136.07 | 91.26 | -5.23 | 0.00 | 0 | 31.54 | 20.02 |
| 2014 (3) | 18.44 | 0.27 | 0.17 | 0 | 3.38 | -19.07 | 3.51 | 0 | 3.06 | 0 | 2.66 | 0 | 1.94 | 0 | 0.63 | 8.62 | 7.66 | 0 | 38.05 | 4.22 | 3.70 | -93.15 | 96.30 | 97.94 | 0.00 | 0 | 26.28 | -6.54 |
| 2013 (2) | 18.39 | -0.22 | -2.71 | 0 | 4.17 | 7.01 | -5.15 | 0 | -4.39 | 0 | -3.53 | 0 | -2.54 | 0 | 0.58 | -6.45 | -0.28 | 0 | 36.51 | -10.29 | 54.05 | -42.46 | 48.65 | 702.7 | 0.00 | 0 | 28.12 | 15.15 |
| 2012 (1) | 18.43 | 0 | 3.58 | 0 | 3.90 | 0 | 3.83 | 0 | 2.65 | 0 | 2.32 | 0 | 1.65 | 0 | 0.62 | 0 | 8.26 | 0 | 40.70 | 0 | 93.94 | 0 | 6.06 | 0 | 0.00 | 0 | 24.42 | 0 |
