- 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) | -243.90 | -5.83 | -190.36 | -361.15 | -22.06 | -133.66 | -408.28 | -30.52 | -149.32 | -408.28 | -30.52 | -149.32 | -37.43 | -7.34 | -113.64 | -4.95 | 21.3 | 7.65 | 0.01 | -50.0 | -66.67 | -300.00 | -16.67 | -125.01 | 739.65 | 42.07 | 196.0 | 88.24 | -7.75 | -7.12 | 11.76 | 170.59 | 135.29 | 160.69 | 70.48 | 56.07 |
| 23Q3 (19) | -230.46 | -156.15 | -465.41 | -295.89 | -122.04 | -322.82 | -312.81 | -120.21 | -335.0 | -312.81 | -120.21 | -335.0 | -34.87 | -81.99 | -206.95 | -6.29 | -46.96 | -62.53 | 0.02 | -33.33 | -66.67 | -257.14 | -157.14 | -439.98 | 520.62 | 42.97 | 182.58 | 95.65 | 2.03 | -4.35 | 4.35 | -30.43 | 0 | 94.26 | 51.64 | 80.16 |
| 23Q2 (18) | -89.97 | -51.93 | -270.25 | -133.26 | -37.91 | -185.97 | -142.05 | -35.89 | -194.4 | -142.05 | -35.89 | -194.4 | -19.16 | -30.43 | -113.13 | -4.28 | -13.23 | -33.75 | 0.03 | -25.0 | -57.14 | -100.00 | -40.0 | -237.5 | 364.14 | 28.8 | 104.98 | 93.75 | 0.45 | -6.25 | 6.25 | -6.25 | 0 | 62.16 | 15.47 | 52.5 |
| 23Q1 (17) | -59.22 | 29.5 | -512.41 | -96.63 | 37.48 | -256.44 | -104.53 | 36.17 | -277.23 | -104.53 | 36.17 | -277.23 | -14.69 | 16.15 | -116.03 | -3.78 | 29.48 | -53.04 | 0.04 | 33.33 | -55.56 | -71.43 | 46.43 | -364.43 | 282.72 | 13.14 | 80.57 | 93.33 | -1.75 | -6.67 | 6.67 | 33.33 | 0 | 53.83 | -47.72 | 76.2 |
| 22Q4 (16) | -84.00 | -106.08 | -1427.27 | -154.56 | -120.86 | -701.66 | -163.76 | -127.73 | -671.0 | -163.76 | -127.73 | -671.0 | -17.52 | -54.23 | -174.61 | -5.36 | -38.5 | -128.09 | 0.03 | -50.0 | -75.0 | -133.33 | -179.99 | -1033.76 | 249.88 | 35.63 | 52.86 | 95.00 | -5.0 | 4.5 | 5.00 | 0 | -45.0 | 102.96 | 96.79 | 320.24 |
| 22Q3 (15) | -40.76 | -67.74 | -1711.56 | -69.98 | -50.17 | -321.31 | -71.91 | -49.04 | -536.94 | -71.91 | -49.04 | -536.94 | -11.36 | -26.36 | -268.83 | -3.87 | -20.94 | -255.05 | 0.06 | -14.29 | -45.45 | -47.62 | -60.72 | 0 | 184.24 | 3.71 | 20.03 | 100.00 | 0.0 | -37.5 | -0.00 | 0 | 100.0 | 52.32 | 28.36 | 94.28 |
| 22Q2 (14) | -24.30 | -151.29 | -872.0 | -46.60 | -71.89 | -171.4 | -48.25 | -74.12 | -289.43 | -48.25 | -74.12 | -289.43 | -8.99 | -32.21 | -177.47 | -3.20 | -29.55 | -175.86 | 0.07 | -22.22 | -30.0 | -29.63 | -92.65 | 0 | 177.65 | 13.46 | 16.19 | 100.00 | 0.0 | -25.0 | -0.00 | 0 | 100.0 | 40.76 | 33.42 | 48.6 |
| 22Q1 (13) | -9.67 | -75.82 | -803.74 | -27.11 | -40.61 | -81.58 | -27.71 | -30.46 | -73.73 | -27.71 | -30.46 | -73.73 | -6.80 | -6.58 | -27.1 | -2.47 | -5.11 | -42.77 | 0.09 | -25.0 | -25.0 | -15.38 | -30.78 | -182.2 | 156.57 | -4.22 | 5.21 | 100.00 | 10.0 | 12.5 | -0.00 | -100.0 | -100.0 | 30.55 | 24.69 | 20.61 |
| 21Q4 (12) | -5.50 | -144.44 | 57.82 | -19.28 | -16.07 | 29.51 | -21.24 | -88.13 | 22.28 | -21.24 | -88.13 | 22.28 | -6.38 | -107.14 | 34.43 | -2.35 | -115.6 | 20.61 | 0.12 | 9.09 | 9.09 | -11.76 | 0 | 9.26 | 163.47 | 6.5 | -30.36 | 90.91 | -43.18 | -9.09 | 9.09 | 115.15 | 0 | 24.50 | -9.02 | -9.19 |
| 21Q3 (11) | -2.25 | 10.0 | 92.6 | -16.61 | 3.26 | 68.57 | -11.29 | 8.88 | 75.55 | -11.29 | 8.88 | 75.55 | -3.08 | 4.94 | 71.32 | -1.09 | 6.03 | 69.72 | 0.11 | 10.0 | 37.5 | 0.00 | 0 | 100.0 | 153.50 | 0.39 | -18.81 | 160.00 | 20.0 | 44.0 | -60.00 | -80.0 | -260.0 | 26.93 | -1.82 | -25.91 |
| 21Q2 (10) | -2.50 | -133.64 | 82.41 | -17.17 | -15.0 | 48.42 | -12.39 | 22.32 | 51.68 | -12.39 | 22.32 | 51.68 | -3.24 | 39.44 | 46.97 | -1.16 | 32.95 | 43.96 | 0.10 | -16.67 | 11.11 | 0.00 | 100.0 | 100.0 | 152.90 | 2.74 | -17.72 | 133.33 | 50.0 | 4.76 | -33.33 | -400.0 | -22.22 | 27.43 | 8.29 | 0 |
| 21Q1 (9) | -1.07 | 91.79 | 39.89 | -14.93 | 45.41 | -17.01 | -15.95 | 41.64 | -18.85 | -15.95 | 41.64 | -18.85 | -5.35 | 45.02 | 8.7 | -1.73 | 41.55 | 12.63 | 0.12 | 9.09 | -25.0 | -5.45 | 57.95 | -52.66 | 148.82 | -36.6 | -13.46 | 88.89 | -11.11 | -11.11 | 11.11 | 0 | 22.22 | 25.33 | -6.12 | 0 |
| 20Q4 (8) | -13.04 | 57.09 | -47.85 | -27.35 | 48.25 | -39.26 | -27.33 | 40.81 | 31.37 | -27.33 | 40.81 | 31.37 | -9.73 | 9.4 | 45.7 | -2.96 | 17.78 | 55.42 | 0.11 | 37.5 | -35.29 | -12.96 | 49.45 | 59.03 | 234.74 | 24.16 | 34.39 | 100.00 | -10.0 | 105.26 | -0.00 | 100.0 | -100.0 | 26.98 | -25.78 | 78.79 |
| 20Q3 (7) | -30.39 | -113.86 | -2025.17 | -52.85 | -58.76 | -327.94 | -46.17 | -80.07 | -250.84 | -46.17 | -80.07 | -250.84 | -10.74 | -75.78 | -81.73 | -3.60 | -73.91 | -64.38 | 0.08 | -11.11 | -55.56 | -25.64 | -267.34 | -303.14 | 189.06 | 1.73 | 21.66 | 111.11 | -12.7 | 11.11 | -16.67 | 38.89 | -333.33 | 36.35 | 0 | 104.21 |
| 20Q2 (6) | -14.21 | -698.31 | -1144.85 | -33.29 | -160.89 | -298.21 | -25.64 | -91.06 | -188.09 | -25.64 | -91.06 | -188.09 | -6.11 | -4.27 | -69.25 | -2.07 | -4.55 | -58.02 | 0.09 | -43.75 | -43.75 | -6.98 | -95.52 | -627.08 | 185.84 | 8.07 | 21.96 | 127.27 | 27.27 | 27.27 | -27.27 | -400.0 | -345.45 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | -1.78 | 79.82 | 57.42 | -12.76 | 35.03 | 17.62 | -13.42 | 66.3 | 15.86 | -13.42 | 66.3 | 15.86 | -5.86 | 67.3 | -14.01 | -1.98 | 70.18 | -1.54 | 0.16 | -5.88 | 23.08 | -3.57 | 88.71 | 38.55 | 171.97 | -1.55 | 17.63 | 100.00 | 105.26 | 7.69 | 9.09 | -82.27 | 0 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | -8.82 | -516.78 | 0.0 | -19.64 | -59.03 | 0.0 | -39.82 | -202.58 | 0.0 | -39.82 | -202.58 | 0.0 | -17.92 | -203.21 | 0.0 | -6.64 | -203.2 | 0.0 | 0.17 | -5.56 | 0.0 | -31.63 | -397.33 | 0.0 | 174.67 | 12.4 | 0.0 | 48.72 | -51.28 | 0.0 | 51.28 | 617.95 | 0.0 | 15.09 | -15.22 | 0.0 |
| 19Q3 (3) | -1.43 | -205.15 | 0.0 | -12.35 | -47.73 | 0.0 | -13.16 | -47.87 | 0.0 | -13.16 | -47.87 | 0.0 | -5.91 | -63.71 | 0.0 | -2.19 | -67.18 | 0.0 | 0.18 | 12.5 | 0.0 | -6.36 | -562.5 | 0.0 | 155.40 | 1.98 | 0.0 | 100.00 | 0.0 | 0.0 | 7.14 | -35.71 | 0.0 | 17.80 | -0.89 | 0.0 |
| 19Q2 (2) | 1.36 | 132.54 | 0.0 | -8.36 | 46.03 | 0.0 | -8.90 | 44.2 | 0.0 | -8.90 | 44.2 | 0.0 | -3.61 | 29.77 | 0.0 | -1.31 | 32.82 | 0.0 | 0.16 | 23.08 | 0.0 | -0.96 | 83.48 | 0.0 | 152.38 | 4.23 | 0.0 | 100.00 | 7.69 | 0.0 | 11.11 | 0 | 0.0 | 17.96 | -9.57 | 0.0 |
| 19Q1 (1) | -4.18 | 0.0 | 0.0 | -15.49 | 0.0 | 0.0 | -15.95 | 0.0 | 0.0 | -15.95 | 0.0 | 0.0 | -5.14 | 0.0 | 0.0 | -1.95 | 0.0 | 0.0 | 0.13 | 0.0 | 0.0 | -5.81 | 0.0 | 0.0 | 146.19 | 0.0 | 0.0 | 92.86 | 0.0 | 0.0 | 0.00 | 0.0 | 0.0 | 19.86 | 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) | -123.35 | 0 | -177.16 | 0 | 37.84 | 122.58 | -191.56 | 0 | -191.56 | 0 | -97.53 | 0 | -19.29 | 0 | 0.11 | -56.0 | -137.84 | 0 | 739.65 | 196.0 | 92.96 | -3.78 | 7.04 | 107.75 | 0.00 | 0 | 76.48 | 62.79 |
| 2022 (9) | -29.51 | 0 | -57.39 | 0 | 17.00 | 71.7 | -59.63 | 0 | -59.63 | 0 | -43.71 | 0 | -14.03 | 0 | 0.25 | -43.18 | -39.00 | 0 | 249.88 | 52.86 | 96.61 | -11.91 | 3.39 | 0 | 0.00 | 0 | 46.98 | 80.69 |
| 2021 (8) | -2.80 | 0 | -16.95 | 0 | 9.90 | -22.56 | -15.33 | 0 | -15.33 | 0 | -20.12 | 0 | -6.26 | 0 | 0.44 | 2.33 | -3.96 | 0 | 163.47 | -30.36 | 109.68 | 0.54 | -9.68 | 0 | 0.00 | 0 | 26.00 | -2.8 |
| 2020 (7) | -12.03 | 0 | -27.44 | 0 | 12.79 | 81.74 | -25.01 | 0 | -25.01 | 0 | -32.07 | 0 | -10.12 | 0 | 0.43 | -34.85 | -10.50 | 0 | 234.74 | 34.39 | 109.09 | 52.73 | -9.09 | 0 | 0.00 | 0 | 26.75 | 51.82 |
| 2019 (6) | -3.11 | 0 | -13.78 | 0 | 7.04 | 27.09 | -19.21 | 0 | -19.21 | 0 | -32.38 | 0 | -12.08 | 0 | 0.66 | -16.46 | -11.06 | 0 | 174.67 | 22.75 | 71.43 | -27.44 | 28.57 | 1728.57 | 0.00 | 0 | 17.62 | -5.37 |
| 2018 (5) | 0.36 | -96.33 | -11.18 | 0 | 5.54 | 36.61 | -11.43 | 0 | -11.43 | 0 | -20.96 | 0 | -8.56 | 0 | 0.79 | -20.2 | -5.18 | 0 | 142.30 | 14.2 | 98.44 | 0 | 1.56 | -98.7 | 0.00 | 0 | 18.62 | 24.88 |
| 2017 (4) | 9.82 | 91.8 | 0.08 | 0 | 4.05 | -21.78 | -0.70 | 0 | -1.69 | 0 | -3.77 | 0 | -1.32 | 0 | 0.99 | 20.73 | 3.79 | 0 | 124.61 | -0.02 | -20.00 | 0 | 120.00 | 4580.0 | 0.00 | 0 | 14.91 | -10.34 |
| 2016 (3) | 5.12 | 0 | -5.93 | 0 | 5.18 | -26.94 | -6.08 | 0 | -6.36 | 0 | -10.91 | 0 | -4.85 | 0 | 0.82 | 18.84 | -0.31 | 0 | 124.64 | 27.84 | 97.44 | -3.96 | 2.56 | 0 | 0.00 | 0 | 16.63 | -4.75 |
| 2015 (2) | -0.62 | 0 | -12.72 | 0 | 7.09 | -1.23 | -12.62 | 0 | -15.32 | 0 | -19.30 | 0 | -10.13 | 0 | 0.69 | 6.15 | -4.73 | 0 | 97.50 | 34.04 | 101.45 | -0.88 | -1.45 | 0 | 0.00 | 0 | 17.46 | 10.44 |
| 2014 (1) | -2.92 | 0 | -14.94 | 0 | 7.18 | 22.62 | -14.46 | 0 | -14.59 | 0 | -16.36 | 0 | -9.08 | 0 | 0.65 | -1.52 | -6.32 | 0 | 72.74 | -0.55 | 102.35 | -19.58 | -3.53 | 0 | 0.00 | 0 | 15.81 | -2.04 |
