- 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) | 34.13 | 287.84 | 2061.49 | -59.78 | 52.29 | 15.19 | -56.69 | 68.27 | -9.36 | -56.69 | 68.27 | -9.36 | -24.52 | 36.93 | -46.04 | -4.13 | 53.75 | 40.06 | 0.08 | 60.0 | -38.46 | -21.28 | 82.87 | 38.96 | 567.31 | 48.77 | 252.76 | 103.70 | 46.7 | -24.58 | -3.70 | -112.64 | 89.63 | 76.19 | -27.97 | 12.69 |
| 23Q3 (19) | 8.80 | 133.07 | 202.09 | -125.30 | 12.17 | 5.97 | -178.67 | -33.75 | -14.88 | -178.67 | -33.75 | -14.88 | -38.88 | -51.17 | -86.83 | -8.93 | -24.37 | 5.3 | 0.05 | -16.67 | -16.67 | -124.24 | -41.99 | -8.46 | 381.34 | 44.4 | 206.27 | 70.69 | -33.03 | -17.85 | 29.31 | 495.69 | 110.06 | 105.78 | -7.99 | 31.47 |
| 23Q2 (18) | -26.61 | -81.39 | -258.77 | -142.66 | -13.97 | -76.32 | -133.59 | 0.77 | -234.97 | -133.59 | 0.77 | -234.97 | -25.72 | -7.17 | -238.8 | -7.18 | 10.25 | -183.88 | 0.06 | 0.0 | -25.0 | -87.50 | 10.64 | -167.45 | 264.08 | 18.35 | 155.84 | 105.56 | 14.35 | 228.43 | -7.41 | -196.3 | -104.07 | 114.96 | 54.52 | 67.31 |
| 23Q1 (17) | -14.67 | -743.1 | -438.8 | -125.17 | -77.57 | -111.69 | -134.63 | -159.7 | -79.94 | -134.63 | -159.7 | -79.94 | -24.00 | -42.94 | 3.61 | -8.00 | -16.11 | 9.5 | 0.06 | -53.85 | -53.85 | -97.92 | -180.9 | -86.8 | 223.14 | 38.75 | 29.96 | 92.31 | -32.87 | 17.6 | 7.69 | 121.54 | -62.35 | 74.40 | 10.04 | 46.03 |
| 22Q4 (16) | -1.74 | 79.81 | 96.13 | -70.49 | 47.1 | 48.63 | -51.84 | 66.67 | -114.85 | -51.84 | 66.67 | -115.49 | -16.79 | 19.32 | -108.94 | -6.89 | 26.94 | -121.76 | 0.13 | 116.67 | 44.44 | -34.86 | 69.57 | -109.1 | 160.82 | 29.16 | -0.48 | 137.50 | 59.8 | 449.69 | -35.71 | -355.95 | -125.59 | 67.61 | -15.97 | 4.94 |
| 22Q3 (15) | -8.62 | -151.43 | -153.01 | -133.26 | -64.7 | -269.04 | -155.53 | -257.13 | -391.1 | -155.53 | -257.13 | -391.1 | -20.81 | -212.3 | 85.62 | -9.43 | -210.16 | -159.07 | 0.06 | -25.0 | -53.85 | -114.55 | -188.3 | -1082.15 | 124.51 | 20.63 | -99.09 | 86.05 | 204.69 | -24.86 | 13.95 | -92.34 | 196.12 | 80.46 | 17.1 | 90.21 |
| 22Q2 (14) | 16.76 | 287.07 | 174.92 | -80.91 | -36.83 | 10.97 | 98.98 | 232.29 | 200.3 | 98.98 | 232.29 | 200.3 | 18.53 | 174.42 | 117.66 | 8.56 | 196.83 | 189.07 | 0.08 | -38.46 | -20.0 | 129.73 | 347.48 | 272.97 | 103.22 | -39.88 | -94.56 | -82.19 | -204.71 | -189.57 | 182.19 | 791.78 | 2282.51 | 68.71 | 34.86 | 14.82 |
| 22Q1 (13) | 4.33 | 109.63 | 136.05 | -59.13 | 56.91 | 1.25 | -74.82 | -121.43 | -16.31 | -74.82 | -122.35 | -16.31 | -24.90 | -113.26 | 48.94 | -8.84 | -127.92 | -28.12 | 0.13 | 44.44 | 18.18 | -52.42 | -113.68 | -10.57 | 171.70 | 6.25 | -74.16 | 78.49 | 299.63 | -15.23 | 20.43 | -85.36 | 200.88 | 50.95 | -20.92 | 6.66 |
| 21Q4 (12) | -44.95 | -376.45 | -354.96 | -137.23 | -280.03 | -386.8 | 349.12 | 1202.37 | 1408.06 | 334.71 | 1156.87 | 1354.07 | 187.74 | 229.69 | 527.07 | 31.66 | 969.78 | 468.14 | 0.09 | -30.77 | -72.73 | 383.05 | 4053.04 | 1887.45 | 161.60 | -98.81 | -69.47 | -39.32 | -134.34 | -137.23 | 139.56 | 1061.43 | 2590.66 | 64.43 | 52.32 | 324.16 |
| 21Q3 (11) | 16.26 | 172.69 | 859.81 | -36.11 | 60.27 | -138.04 | -31.67 | 67.91 | -96.71 | -31.67 | 67.91 | -96.71 | -144.76 | -37.93 | -479.97 | -3.64 | 62.12 | 46.39 | 0.13 | 30.0 | -69.77 | -9.69 | 87.08 | 19.32 | 13612.80 | 618.08 | 4139.29 | 114.52 | 24.79 | 21.97 | -14.52 | -289.83 | -361.29 | 42.30 | -29.31 | 177.38 |
| 21Q2 (10) | -22.37 | -86.26 | -1897.32 | -90.88 | -51.77 | -227.85 | -98.68 | -53.4 | -377.64 | -98.68 | -53.4 | -377.64 | -104.95 | -115.19 | -638.05 | -9.61 | -39.28 | -106.22 | 0.10 | -9.09 | -58.33 | -75.00 | -58.19 | -500.0 | 1895.73 | 185.3 | 815.68 | 91.76 | -0.89 | -31.45 | 7.65 | 12.62 | 122.58 | 59.84 | 25.27 | 0 |
| 21Q1 (9) | -12.01 | -21.56 | -274.06 | -59.88 | -112.42 | -139.62 | -64.33 | -141.03 | -180.92 | -64.33 | -141.03 | -180.92 | -48.77 | -10.94 | -349.49 | -6.90 | 19.77 | -91.14 | 0.11 | -66.67 | -31.25 | -47.41 | -121.23 | -273.9 | 664.48 | 25.54 | 269.87 | 92.59 | -12.32 | -15.25 | 6.79 | 221.18 | 173.33 | 47.77 | 214.48 | 0 |
| 20Q4 (8) | -9.88 | -361.68 | -2037.25 | -28.19 | -85.83 | -33.73 | -26.69 | -65.78 | -1727.44 | -26.69 | -65.78 | -1727.44 | -43.96 | -76.12 | -3308.76 | -8.60 | -26.66 | -1423.08 | 0.33 | -23.26 | 13.79 | -21.43 | -78.43 | -380.5 | 529.30 | 64.83 | 164.85 | 105.60 | 12.48 | 107.99 | -5.60 | -200.86 | -100.39 | 15.19 | -0.39 | -33.23 |
| 20Q3 (7) | -2.14 | -91.07 | -109.16 | -15.17 | 45.27 | -31.8 | -16.10 | 22.07 | -434.72 | -16.10 | 22.07 | -434.72 | -24.96 | -75.53 | -1229.41 | -6.79 | -45.71 | -807.29 | 0.43 | 79.17 | 168.75 | -12.01 | 3.92 | -172.22 | 321.11 | 55.1 | 85.62 | 93.89 | -29.87 | 139.26 | 5.56 | 116.4 | -98.36 | 15.25 | 0 | -48.53 |
| 20Q2 (6) | -1.12 | -116.23 | 73.08 | -27.72 | -10.92 | 47.81 | -20.66 | 9.78 | -5536.84 | -20.66 | 9.78 | -5536.84 | -14.22 | -31.06 | -9580.0 | -4.66 | -29.09 | -1964.0 | 0.24 | 50.0 | 100.0 | -12.50 | 1.42 | -174.63 | 207.03 | 15.24 | 4.62 | 133.87 | 22.53 | 101.22 | -33.87 | -265.81 | -100.31 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 6.90 | 1252.94 | -40.26 | -24.99 | -18.55 | -50.54 | -22.90 | -1496.34 | -68.01 | -22.90 | -1496.34 | -68.01 | -10.85 | -891.97 | -28.86 | -3.61 | -655.38 | -74.4 | 0.16 | -44.83 | -5.88 | -12.68 | -265.97 | -217.0 | 179.65 | -10.11 | -29.43 | 109.26 | 108.27 | -10.25 | -9.26 | -100.65 | 57.41 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 0.51 | -97.82 | 0.0 | -21.08 | -83.15 | 0.0 | 1.64 | -65.9 | 0.0 | 1.64 | -65.9 | 0.0 | 1.37 | -38.01 | 0.0 | 0.65 | -32.29 | 0.0 | 0.29 | 81.25 | 0.0 | 7.64 | -54.06 | 0.0 | 199.85 | 15.53 | 0.0 | -1321.43 | -452.6 | 0.0 | 1421.43 | 319.14 | 0.0 | 22.75 | -23.22 | 0.0 |
| 19Q3 (3) | 23.36 | 661.54 | 0.0 | -11.51 | 78.33 | 0.0 | 4.81 | 1165.79 | 0.0 | 4.81 | 1165.79 | 0.0 | 2.21 | 1373.33 | 0.0 | 0.96 | 284.0 | 0.0 | 0.16 | 33.33 | 0.0 | 16.63 | -0.72 | 0.0 | 172.99 | -12.58 | 0.0 | -239.13 | 97.82 | 0.0 | 339.13 | -96.92 | 0.0 | 29.63 | -21.15 | 0.0 |
| 19Q2 (2) | -4.16 | -136.02 | 0.0 | -53.11 | -219.94 | 0.0 | 0.38 | 102.79 | 0.0 | 0.38 | 102.79 | 0.0 | 0.15 | 101.78 | 0.0 | 0.25 | 112.08 | 0.0 | 0.12 | -29.41 | 0.0 | 16.75 | 518.75 | 0.0 | 197.89 | -22.26 | 0.0 | -10950.00 | -9094.64 | 0.0 | 11000.00 | 50700.0 | 0.0 | 37.58 | 67.39 | 0.0 |
| 19Q1 (1) | 11.55 | 0.0 | 0.0 | -16.60 | 0.0 | 0.0 | -13.63 | 0.0 | 0.0 | -13.63 | 0.0 | 0.0 | -8.42 | 0.0 | 0.0 | -2.07 | 0.0 | 0.0 | 0.17 | 0.0 | 0.0 | -4.00 | 0.0 | 0.0 | 254.57 | 0.0 | 0.0 | 121.74 | 0.0 | 0.0 | -21.74 | 0.0 | 0.0 | 22.45 | 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) | 0.66 | -78.43 | -111.13 | 0 | 30.95 | 67.24 | -121.19 | 0 | -121.19 | 0 | -104.20 | 0 | -27.91 | 0 | 0.24 | -38.46 | -79.17 | 0 | 567.31 | 252.76 | 91.67 | -47.53 | 8.33 | 0 | 1.81 | -17.02 | 90.70 | 41.5 |
| 2022 (9) | 3.06 | 0 | -78.33 | 0 | 18.51 | 13.83 | -44.79 | 0 | -44.79 | 0 | -45.65 | 0 | -15.95 | 0 | 0.39 | -2.5 | -19.06 | 0 | 160.82 | -0.48 | 174.69 | 0 | -74.69 | 0 | 2.18 | 1.64 | 64.10 | 23.75 |
| 2021 (8) | -12.19 | 0 | -73.19 | 0 | 16.26 | 222.67 | 2.56 | 0 | 0.25 | 0 | 0.45 | 0 | 1.65 | 0 | 0.40 | -62.26 | 25.07 | 0 | 161.60 | -69.47 | -2842.11 | 0 | 2942.11 | 0 | 2.14 | 23.92 | 51.80 | 170.64 |
| 2020 (7) | -2.74 | 0 | -22.85 | 0 | 5.04 | -31.58 | -21.05 | 0 | -21.05 | 0 | -87.81 | 0 | -21.74 | 0 | 1.06 | 58.21 | -14.89 | 0 | 529.30 | 164.85 | 108.55 | -89.92 | -8.55 | 0 | 1.73 | 109.57 | 19.14 | -27.83 |
| 2019 (6) | 7.27 | 159.64 | -23.36 | 0 | 7.36 | 139.07 | -2.16 | 0 | -2.16 | 0 | -4.86 | 0 | -0.69 | 0 | 0.67 | -44.63 | 7.69 | 0 | 199.85 | -25.55 | 1077.36 | 641.07 | -977.36 | 0 | 0.82 | 6.97 | 26.52 | 130.41 |
| 2018 (5) | 2.80 | -17.65 | -12.69 | 0 | 3.08 | 137.3 | -8.73 | 0 | -8.73 | 0 | -48.41 | 0 | -9.57 | 0 | 1.21 | -16.55 | -4.47 | 0 | 268.44 | -35.48 | 145.38 | 35.8 | -45.38 | 0 | 0.77 | 119.87 | 11.51 | 63.26 |
| 2017 (4) | 3.40 | 33.86 | -4.74 | 0 | 1.30 | 8.75 | -4.43 | 0 | -4.17 | 0 | -31.54 | 0 | -4.87 | 0 | 1.45 | -9.38 | -2.07 | 0 | 416.03 | -2.16 | 107.05 | 57.91 | -7.05 | 0 | 0.35 | 0 | 7.05 | 17.5 |
| 2016 (3) | 2.54 | -59.29 | -4.47 | 0 | 1.19 | -3.08 | -6.59 | 0 | -7.35 | 0 | -47.43 | 0 | -10.96 | 0 | 1.60 | 11.89 | -4.71 | 0 | 425.21 | 87.05 | 67.79 | 65.08 | 32.21 | -45.35 | 0.00 | 0 | 6.00 | -4.91 |
| 2015 (2) | 6.24 | -17.68 | -0.64 | 0 | 1.23 | 28.61 | -1.55 | 0 | -1.76 | 0 | -8.52 | 0 | -2.00 | 0 | 1.43 | -16.86 | 0.19 | -92.18 | 227.32 | -8.98 | 41.07 | -76.02 | 58.93 | 0 | 0.00 | 0 | 6.31 | 2.6 |
| 2014 (1) | 7.58 | 0 | 1.57 | 0 | 0.96 | -8.37 | 0.92 | 0 | 0.68 | 0 | 4.31 | 0 | 1.86 | 0 | 1.72 | -11.79 | 2.43 | -4.33 | 249.76 | -12.13 | 171.26 | 40.74 | -71.26 | 0 | 0.00 | 0 | 6.15 | 7.71 |
