- 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) | 13.71 | 104.93 | 222.52 | 6.53 | 566.43 | 136.4 | -6.64 | -142.08 | 67.23 | -5.25 | -153.25 | 73.51 | -0.74 | -154.81 | 74.04 | -0.63 | -152.07 | 74.8 | 0.12 | 0.0 | -7.69 | -4.32 | -123.57 | 75.76 | 17.09 | 21.55 | 29.37 | -100.00 | -833.33 | -213.89 | 200.00 | 80.65 | 1540.0 | 3.61 | -7.44 | 12.11 |
| 23Q3 (19) | 6.69 | 109.69 | 66.0 | -1.40 | 98.27 | -268.42 | 15.78 | 124.19 | 78.1 | 9.86 | 119.64 | 16.27 | 1.35 | 128.24 | -34.78 | 1.21 | 128.4 | -31.64 | 0.12 | 50.0 | -42.86 | 18.33 | 129.47 | 80.77 | 14.06 | 27.24 | 4.46 | -10.71 | -108.63 | -232.14 | 110.71 | 559.46 | 7.25 | 3.90 | -23.38 | 61.83 |
| 23Q2 (18) | -69.04 | -10858.73 | -969.52 | -80.72 | -955.16 | -3999.52 | -65.24 | -985.52 | -1559.51 | -50.20 | -733.89 | -1819.18 | -4.78 | -419.57 | -792.75 | -4.26 | -425.93 | -834.48 | 0.08 | -42.86 | -57.89 | -62.20 | -1541.16 | -1176.12 | 11.05 | -15.97 | -52.21 | 124.10 | 0.83 | 165.92 | -24.10 | -4.42 | -145.18 | 5.09 | 25.37 | 59.56 |
| 23Q1 (17) | -0.63 | 94.37 | -114.89 | -7.65 | 57.36 | -1679.07 | -6.01 | 70.34 | -279.94 | -6.02 | 69.63 | -323.79 | -0.92 | 67.72 | -226.03 | -0.81 | 67.6 | -230.65 | 0.14 | 7.69 | -39.13 | -3.79 | 78.73 | -183.66 | 13.15 | -0.45 | -27.59 | 123.08 | 40.17 | 900.0 | -23.08 | -289.23 | -121.43 | 4.06 | 26.09 | 111.46 |
| 22Q4 (16) | -11.19 | -377.67 | -344.86 | -17.94 | -4621.05 | -1238.81 | -20.26 | -328.67 | -3583.64 | -19.82 | -333.73 | -1638.6 | -2.85 | -237.68 | -630.77 | -2.50 | -241.24 | -681.25 | 0.13 | -38.1 | -53.57 | -17.82 | -275.74 | -4244.19 | 13.21 | -1.86 | -34.15 | 87.80 | 2821.95 | -56.1 | 12.20 | -88.19 | 109.15 | 3.22 | 33.61 | 3.87 |
| 22Q3 (15) | 4.03 | -49.24 | -66.47 | -0.38 | -118.36 | -105.03 | 8.86 | 98.21 | 10.61 | 8.48 | 190.41 | 8.72 | 2.07 | 200.0 | -16.19 | 1.77 | 205.17 | -16.11 | 0.21 | 10.53 | -22.22 | 10.14 | 75.43 | 9.5 | 13.46 | -41.78 | -18.08 | -3.23 | -106.91 | -103.42 | 103.23 | 93.55 | 1706.45 | 2.41 | -24.45 | 45.18 |
| 22Q2 (14) | 7.94 | 87.71 | -49.27 | 2.07 | 581.4 | -80.47 | 4.47 | 33.83 | -57.27 | 2.92 | 8.55 | -73.09 | 0.69 | -5.48 | -78.5 | 0.58 | -6.45 | -78.83 | 0.19 | -17.39 | -24.0 | 5.78 | 27.59 | -50.72 | 23.12 | 27.31 | 31.36 | 46.67 | 403.33 | -54.44 | 53.33 | -50.48 | 2286.67 | 3.19 | 66.15 | 60.3 |
| 22Q1 (13) | 4.23 | -7.44 | -37.33 | -0.43 | 67.91 | -130.94 | 3.34 | 707.27 | 45.85 | 2.69 | 335.96 | 81.76 | 0.73 | 287.18 | 97.3 | 0.62 | 293.75 | 100.0 | 0.23 | -17.86 | 9.52 | 4.53 | 953.49 | 21.77 | 18.16 | -9.47 | 7.52 | -15.38 | -107.69 | -121.54 | 107.69 | 180.77 | 151.28 | 1.92 | -38.06 | -23.2 |
| 21Q4 (12) | 4.57 | -61.98 | -42.44 | -1.34 | -117.75 | 18.29 | -0.55 | -106.87 | 56.69 | -1.14 | -114.62 | 26.92 | -0.39 | -115.79 | -11.43 | -0.32 | -115.17 | -6.67 | 0.28 | 3.7 | 47.37 | 0.43 | -95.36 | 26.47 | 20.06 | 22.09 | 13.14 | 200.00 | 112.12 | 60.0 | -133.33 | -2433.33 | -433.33 | 3.10 | 86.75 | -34.04 |
| 21Q3 (11) | 12.02 | -23.19 | 701.0 | 7.55 | -28.77 | 176.81 | 8.01 | -23.42 | 182.75 | 7.80 | -28.11 | 191.23 | 2.47 | -23.05 | 266.89 | 2.11 | -22.99 | 261.07 | 0.27 | 8.0 | 80.0 | 9.26 | -21.06 | 223.14 | 16.43 | -6.65 | 6.9 | 94.29 | -7.96 | -5.71 | 5.71 | 334.29 | 0 | 1.66 | -16.58 | -54.89 |
| 21Q2 (10) | 15.65 | 131.85 | 289.3 | 10.60 | 662.59 | 398.59 | 10.46 | 356.77 | 296.62 | 10.85 | 633.11 | 352.91 | 3.21 | 767.57 | 511.54 | 2.74 | 783.87 | 485.92 | 0.25 | 19.05 | 47.06 | 11.73 | 215.32 | 504.48 | 17.60 | 4.2 | 60.88 | 102.44 | 43.41 | 47.97 | -2.44 | -105.69 | -107.93 | 1.99 | -20.4 | 0 |
| 21Q1 (9) | 6.75 | -14.99 | 38.04 | 1.39 | 184.76 | 93.06 | 2.29 | 280.31 | -32.05 | 1.48 | 194.87 | -18.68 | 0.37 | 205.71 | -2.63 | 0.31 | 203.33 | -11.43 | 0.21 | 10.53 | 10.53 | 3.72 | 994.12 | -31.99 | 16.89 | -4.74 | 87.88 | 71.43 | -42.86 | 221.43 | 42.86 | 271.43 | -44.9 | 2.50 | -46.81 | -7.41 |
| 20Q4 (8) | 7.94 | 497.0 | 1340.62 | -1.64 | 83.32 | 91.2 | -1.27 | 86.88 | 96.5 | -1.56 | 81.75 | 95.2 | -0.35 | 76.35 | 92.15 | -0.30 | 77.1 | 92.72 | 0.19 | 26.67 | 46.15 | 0.34 | 104.52 | 101.01 | 17.73 | 15.35 | 123.3 | 125.00 | 25.0 | 139.29 | -25.00 | 0 | -150.76 | 4.70 | 27.72 | -45.41 |
| 20Q3 (7) | -2.00 | -149.75 | -121.12 | -9.83 | -176.9 | -403.4 | -9.68 | -81.95 | -253.65 | -8.55 | -99.3 | -276.65 | -1.48 | -89.74 | -248.0 | -1.31 | -84.51 | -242.39 | 0.15 | -11.76 | -21.05 | -7.52 | -159.31 | -188.99 | 15.37 | 40.49 | 84.96 | 100.00 | 44.44 | 100.0 | -0.00 | -100.0 | -100.0 | 3.68 | 0 | 43.75 |
| 20Q2 (6) | 4.02 | -17.79 | 24.84 | -3.55 | -593.06 | -113.05 | -5.32 | -257.86 | -117.48 | -4.29 | -335.71 | -113.77 | -0.78 | -305.26 | -117.81 | -0.71 | -302.86 | -117.53 | 0.17 | -10.53 | 30.77 | -2.90 | -153.02 | -108.61 | 10.94 | 21.69 | 5.8 | 69.23 | 211.54 | -22.78 | 30.77 | -60.44 | 197.44 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 4.89 | 864.06 | -29.34 | 0.72 | 103.86 | -73.43 | 3.37 | 109.29 | -62.56 | 1.82 | 105.6 | -78.33 | 0.38 | 108.52 | -72.46 | 0.35 | 108.5 | -72.22 | 0.19 | 46.15 | 26.67 | 5.47 | 116.32 | -56.45 | 8.99 | 13.22 | 34.98 | 22.22 | -57.46 | -29.63 | 77.78 | 57.91 | 5.56 | 2.70 | -68.64 | -42.8 |
| 19Q4 (4) | -0.64 | -106.76 | 0.0 | -18.63 | -675.0 | 0.0 | -36.29 | -676.03 | 0.0 | -32.48 | -771.07 | 0.0 | -4.46 | -546.0 | 0.0 | -4.12 | -547.83 | 0.0 | 0.13 | -31.58 | 0.0 | -33.51 | -496.57 | 0.0 | 7.94 | -4.45 | 0.0 | 52.24 | 4.48 | 0.0 | 49.25 | -1.49 | 0.0 | 8.61 | 236.33 | 0.0 |
| 19Q3 (3) | 9.47 | 194.1 | 0.0 | 3.24 | -88.09 | 0.0 | 6.30 | -79.3 | 0.0 | 4.84 | -84.46 | 0.0 | 1.00 | -77.17 | 0.0 | 0.92 | -77.28 | 0.0 | 0.19 | 46.15 | 0.0 | 8.45 | -74.91 | 0.0 | 8.31 | -19.63 | 0.0 | 50.00 | -44.23 | 0.0 | 50.00 | 383.33 | 0.0 | 2.56 | -42.47 | 0.0 |
| 19Q2 (2) | 3.22 | -53.47 | 0.0 | 27.20 | 903.69 | 0.0 | 30.44 | 238.22 | 0.0 | 31.15 | 270.83 | 0.0 | 4.38 | 217.39 | 0.0 | 4.05 | 221.43 | 0.0 | 0.13 | -13.33 | 0.0 | 33.68 | 168.15 | 0.0 | 10.34 | 55.26 | 0.0 | 89.66 | 183.91 | 0.0 | 10.34 | -85.96 | 0.0 | 4.45 | -5.72 | 0.0 |
| 19Q1 (1) | 6.92 | 0.0 | 0.0 | 2.71 | 0.0 | 0.0 | 9.00 | 0.0 | 0.0 | 8.40 | 0.0 | 0.0 | 1.38 | 0.0 | 0.0 | 1.26 | 0.0 | 0.0 | 0.15 | 0.0 | 0.0 | 12.56 | 0.0 | 0.0 | 6.66 | 0.0 | 0.0 | 31.58 | 0.0 | 0.0 | 73.68 | 0.0 | 0.0 | 4.72 | 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) | -7.37 | 0 | -15.55 | 0 | 2.27 | 89.55 | -11.33 | 0 | -9.76 | 0 | -5.09 | 0 | -4.39 | 0 | 0.45 | -42.31 | -8.95 | 0 | 17.09 | 29.37 | 136.25 | 0 | -37.50 | 0 | 0.07 | -48.96 | 4.09 | 57.31 |
| 2022 (9) | 2.65 | -72.68 | -2.59 | 0 | 1.20 | 13.63 | 1.34 | -73.2 | 0.71 | -84.89 | 0.64 | -88.67 | 0.60 | -87.39 | 0.78 | -22.77 | 2.80 | -54.91 | 13.21 | -34.15 | -188.24 | 0 | 288.24 | 2782.35 | 0.13 | 5.35 | 2.60 | 12.07 |
| 2021 (8) | 9.70 | 139.51 | 4.50 | 0 | 1.06 | -35.75 | 5.00 | 0 | 4.70 | 0 | 5.65 | 0 | 4.76 | 0 | 1.01 | 44.29 | 6.21 | 0 | 20.06 | 13.14 | 90.00 | -23.24 | 10.00 | 0 | 0.12 | -69.11 | 2.32 | -36.26 |
| 2020 (7) | 4.05 | -24.16 | -3.24 | 0 | 1.64 | -20.25 | -2.82 | 0 | -2.83 | 0 | -2.23 | 0 | -1.97 | 0 | 0.70 | 18.64 | -0.77 | 0 | 17.73 | 107.61 | 117.24 | 2.59 | -13.79 | 0 | 0.39 | -43.99 | 3.64 | -25.56 |
| 2019 (6) | 5.34 | 176.68 | 3.67 | 0 | 2.06 | 174.21 | 3.17 | 0 | 3.51 | 0 | 2.34 | 0 | 2.12 | 0 | 0.59 | -43.81 | 6.06 | 0 | 8.54 | -44.69 | 114.29 | 2.33 | -14.29 | 0 | 0.70 | -38.21 | 4.89 | 65.2 |
| 2018 (5) | 1.93 | -48.4 | -9.21 | 0 | 0.75 | 127.25 | -8.27 | 0 | -8.35 | 0 | -11.27 | 0 | -8.70 | 0 | 1.05 | -42.62 | -7.03 | 0 | 15.44 | -60.67 | 111.69 | 737.66 | -11.69 | 0 | 1.13 | 0 | 2.96 | 101.36 |
| 2017 (4) | 3.74 | 57.14 | -0.13 | 0 | 0.33 | 108.37 | -1.07 | 0 | -0.89 | 0 | -2.52 | 0 | -1.43 | 0 | 1.83 | -42.81 | -0.45 | 0 | 39.26 | -41.89 | 13.33 | -94.81 | 86.67 | 0 | 0.00 | 0 | 1.47 | 75.0 |
| 2016 (3) | 2.38 | -7.75 | 0.22 | 340.0 | 0.16 | 37.85 | 0.09 | -88.89 | 0.11 | -83.08 | 0.55 | -83.87 | 0.64 | -70.78 | 3.20 | 3.9 | 0.43 | -60.19 | 67.56 | 23.44 | 257.14 | 4464.29 | -157.14 | 0 | 0.00 | 0 | 0.84 | -28.21 |
| 2015 (2) | 2.58 | 3.2 | 0.05 | -89.8 | 0.12 | 32.1 | 0.81 | 19.12 | 0.65 | 16.07 | 3.41 | -20.88 | 2.19 | -23.96 | 3.08 | -30.47 | 1.08 | 18.68 | 54.73 | -37.62 | 5.63 | -92.19 | 94.37 | 238.15 | 0.00 | 0 | 1.17 | 44.44 |
| 2014 (1) | 2.50 | 0 | 0.49 | 0 | 0.09 | -0.87 | 0.68 | 0 | 0.56 | 0 | 4.31 | 0 | 2.88 | 0 | 4.43 | -15.13 | 0.91 | 15.19 | 87.73 | 44.17 | 72.09 | -20.37 | 27.91 | 195.02 | 0.00 | 0 | 0.81 | -1.22 |
