- 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) | 4.32 | -35.91 | 402.1 | 0.39 | -83.61 | 106.36 | -0.56 | -106.56 | 94.55 | 0.03 | -99.64 | 100.33 | 0.01 | -99.47 | 100.48 | 0.12 | -91.3 | 109.23 | 0.15 | 0.0 | 0.0 | 5.58 | -61.06 | 266.07 | 47.48 | -2.61 | -2.68 | -70.23 | -352.04 | -217.8 | 170.23 | 135.97 | 321.61 | 3.59 | -11.14 | -18.22 |
| 23Q3 (19) | 6.74 | 1221.57 | 424.04 | 2.38 | 156.67 | 134.95 | 8.54 | 302.83 | 356.68 | 8.24 | 266.22 | 228.29 | 1.90 | 322.22 | 233.33 | 1.38 | 245.0 | 206.67 | 0.15 | 15.38 | 0.0 | 14.33 | 64.33 | 94.97 | 48.75 | -1.54 | -0.14 | 27.86 | 114.07 | 107.66 | 72.14 | -75.8 | -84.44 | 4.04 | -14.04 | 2.02 |
| 23Q2 (18) | 0.51 | -70.0 | -91.76 | -4.20 | -51.08 | -347.06 | 2.12 | 254.74 | -73.3 | 2.25 | 260.71 | -69.14 | 0.45 | 245.16 | -75.0 | 0.40 | 500.0 | -69.92 | 0.13 | -13.33 | -27.78 | 8.72 | 81.29 | -29.34 | 49.51 | -4.93 | 7.21 | -198.05 | -197.44 | -1025.22 | 298.12 | 388.7 | 279.31 | 4.70 | 8.29 | 37.43 |
| 23Q1 (17) | 1.70 | 218.88 | -82.35 | -2.78 | 54.65 | -161.23 | -1.37 | 86.67 | -116.0 | -1.40 | 84.78 | -119.15 | -0.31 | 85.02 | -120.0 | -0.10 | 92.31 | -108.47 | 0.15 | 0.0 | -6.25 | 4.81 | 243.15 | -64.08 | 52.08 | 6.74 | 47.79 | 203.26 | 240.97 | 283.65 | -103.26 | -355.76 | -319.62 | 4.34 | -1.14 | 14.21 |
| 22Q4 (16) | -1.43 | 31.25 | -115.94 | -6.13 | 9.99 | -277.17 | -10.28 | -649.73 | -286.57 | -9.20 | -466.53 | -296.58 | -2.07 | -463.16 | -307.0 | -1.30 | -388.89 | -266.67 | 0.15 | 0.0 | -6.25 | -3.36 | -145.71 | -130.63 | 48.79 | -0.06 | 40.32 | 59.61 | 116.4 | -5.23 | 40.38 | -91.29 | 8.83 | 4.39 | 10.86 | 2.81 |
| 22Q3 (15) | -2.08 | -133.6 | -118.1 | -6.81 | -500.59 | -214.84 | 1.87 | -76.45 | -85.42 | 2.51 | -65.57 | -77.98 | 0.57 | -68.33 | -76.45 | 0.45 | -66.17 | -75.14 | 0.15 | -16.67 | -6.25 | 7.35 | -40.44 | -59.19 | 48.82 | 5.72 | 42.33 | -363.51 | -1798.16 | -886.65 | 463.57 | 489.83 | 761.67 | 3.96 | 15.79 | -6.16 |
| 22Q2 (14) | 6.19 | -35.72 | -66.29 | 1.70 | -62.56 | -87.63 | 7.94 | -7.24 | -53.86 | 7.29 | -0.27 | -49.41 | 1.80 | 16.13 | -45.29 | 1.33 | 12.71 | -45.93 | 0.18 | 12.5 | 5.88 | 12.34 | -7.84 | -44.04 | 46.18 | 31.04 | 22.01 | 21.41 | -59.6 | -73.18 | 78.59 | 67.15 | 289.38 | 3.42 | -10.0 | -2.29 |
| 22Q1 (13) | 9.63 | 7.36 | -51.99 | 4.54 | 31.21 | -69.63 | 8.56 | 55.35 | -57.01 | 7.31 | 56.2 | -56.28 | 1.55 | 55.0 | -55.07 | 1.18 | 51.28 | -54.62 | 0.16 | 0.0 | 6.67 | 13.39 | 22.06 | -47.01 | 35.24 | 1.35 | 2.5 | 52.98 | -15.77 | -29.44 | 47.02 | 26.74 | 88.74 | 3.80 | -11.01 | -7.32 |
| 21Q4 (12) | 8.97 | -21.93 | -50.96 | 3.46 | -41.65 | -73.75 | 5.51 | -57.05 | -68.57 | 4.68 | -58.95 | -67.77 | 1.00 | -58.68 | -64.91 | 0.78 | -56.91 | -62.86 | 0.16 | 0.0 | 14.29 | 10.97 | -39.09 | -53.77 | 34.77 | 1.37 | 0.84 | 62.90 | 36.12 | -16.39 | 37.10 | -31.04 | 49.76 | 4.27 | 1.18 | -1.16 |
| 21Q3 (11) | 11.49 | -37.42 | -19.59 | 5.93 | -56.84 | -30.24 | 12.83 | -25.45 | -45.4 | 11.40 | -20.89 | -49.31 | 2.42 | -26.44 | -38.27 | 1.81 | -26.42 | -34.42 | 0.16 | -5.88 | 33.33 | 18.01 | -18.32 | -42.02 | 34.30 | -9.38 | -16.44 | 46.21 | -42.1 | 27.73 | 53.80 | 166.54 | -15.7 | 4.22 | 20.57 | -21.56 |
| 21Q2 (10) | 18.36 | -8.47 | 72.88 | 13.74 | -8.09 | 201.98 | 17.21 | -13.56 | 384.79 | 14.41 | -13.82 | 344.75 | 3.29 | -4.64 | 532.69 | 2.46 | -5.38 | 500.0 | 0.17 | 13.33 | 54.55 | 22.05 | -12.74 | 68.19 | 37.85 | 10.09 | -22.1 | 79.82 | 6.3 | -37.71 | 20.18 | -18.98 | 171.75 | 3.50 | -14.63 | 0 |
| 21Q1 (9) | 20.06 | 9.68 | 662.74 | 14.95 | 13.43 | 601.68 | 19.91 | 13.58 | 413.05 | 16.72 | 15.15 | 348.07 | 3.45 | 21.05 | 405.31 | 2.60 | 23.81 | 442.11 | 0.15 | 7.14 | 25.0 | 25.27 | 6.49 | 8813.79 | 34.38 | -0.29 | -18.97 | 75.09 | -0.19 | 60.06 | 24.91 | 0.56 | -53.07 | 4.10 | -5.09 | -25.18 |
| 20Q4 (8) | 18.29 | 27.99 | 193.58 | 13.18 | 55.06 | 4151.61 | 17.53 | -25.4 | 276.99 | 14.52 | -35.44 | 127.59 | 2.85 | -27.3 | 301.41 | 2.10 | -23.91 | 262.07 | 0.14 | 16.67 | 16.67 | 23.73 | -23.6 | 91.84 | 34.48 | -16.0 | -0.09 | 75.23 | 107.94 | 1024.28 | 24.77 | -61.18 | -73.45 | 4.32 | -19.7 | -27.39 |
| 20Q3 (7) | 14.29 | 34.56 | 71.55 | 8.50 | 86.81 | 164.8 | 23.50 | 561.97 | 32.1 | 22.49 | 594.14 | 30.3 | 3.92 | 653.85 | 20.99 | 2.76 | 573.17 | 14.05 | 0.12 | 9.09 | -14.29 | 31.06 | 136.92 | 27.35 | 41.05 | -15.52 | 21.06 | 36.18 | -71.77 | 100.24 | 63.82 | 326.84 | -22.11 | 5.38 | 0 | 7.6 |
| 20Q2 (6) | 10.62 | 303.8 | -3.72 | 4.55 | 252.68 | -28.46 | 3.55 | 155.82 | -69.34 | 3.24 | 148.07 | -65.64 | 0.52 | 146.02 | -70.62 | 0.41 | 153.95 | -69.85 | 0.11 | -8.33 | -21.43 | 13.11 | 4620.69 | -26.02 | 48.59 | 14.52 | 18.57 | 128.13 | 173.12 | 133.4 | -28.13 | -152.99 | -162.38 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 2.63 | -57.78 | -80.83 | -2.98 | -1061.29 | -131.74 | -6.36 | -236.77 | -153.94 | -6.74 | -205.64 | -167.13 | -1.13 | -259.15 | -154.59 | -0.76 | -231.03 | -146.91 | 0.12 | 0.0 | -20.0 | -0.29 | -102.34 | -101.66 | 42.43 | 22.95 | 32.06 | 46.91 | 601.13 | -41.06 | 53.09 | -43.11 | 160.17 | 5.48 | -7.9 | 28.34 |
| 19Q4 (4) | 6.23 | -25.21 | 0.0 | 0.31 | -90.34 | 0.0 | 4.65 | -73.86 | 0.0 | 6.38 | -63.04 | 0.0 | 0.71 | -78.09 | 0.0 | 0.58 | -76.03 | 0.0 | 0.12 | -14.29 | 0.0 | 12.37 | -49.28 | 0.0 | 34.51 | 1.77 | 0.0 | 6.69 | -62.96 | 0.0 | 93.31 | 13.88 | 0.0 | 5.95 | 19.0 | 0.0 |
| 19Q3 (3) | 8.33 | -24.48 | 0.0 | 3.21 | -49.53 | 0.0 | 17.79 | 53.63 | 0.0 | 17.26 | 83.03 | 0.0 | 3.24 | 83.05 | 0.0 | 2.42 | 77.94 | 0.0 | 0.14 | 0.0 | 0.0 | 24.39 | 37.64 | 0.0 | 33.91 | -17.25 | 0.0 | 18.07 | -67.09 | 0.0 | 81.93 | 81.67 | 0.0 | 5.00 | 5.93 | 0.0 |
| 19Q2 (2) | 11.03 | -19.61 | 0.0 | 6.36 | -32.27 | 0.0 | 11.58 | -1.78 | 0.0 | 9.43 | -6.08 | 0.0 | 1.77 | -14.49 | 0.0 | 1.36 | -16.05 | 0.0 | 0.14 | -6.67 | 0.0 | 17.72 | 1.49 | 0.0 | 40.98 | 27.54 | 0.0 | 54.90 | -31.03 | 0.0 | 45.10 | 121.03 | 0.0 | 4.72 | 10.54 | 0.0 |
| 19Q1 (1) | 13.72 | 0.0 | 0.0 | 9.39 | 0.0 | 0.0 | 11.79 | 0.0 | 0.0 | 10.04 | 0.0 | 0.0 | 2.07 | 0.0 | 0.0 | 1.62 | 0.0 | 0.0 | 0.15 | 0.0 | 0.0 | 17.46 | 0.0 | 0.0 | 32.13 | 0.0 | 0.0 | 79.60 | 0.0 | 0.0 | 20.40 | 0.0 | 0.0 | 4.27 | 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) | 3.43 | 2.39 | -0.92 | 0 | 3.96 | 8.43 | 2.22 | -11.9 | 2.32 | -4.13 | 2.04 | -9.33 | 1.80 | -2.17 | 0.59 | -10.61 | 8.38 | 6.62 | 47.48 | -2.68 | -41.29 | 0 | 141.31 | -8.9 | 0.06 | -0.38 | 4.14 | 7.25 |
| 2022 (9) | 3.35 | -77.07 | -1.39 | 0 | 3.65 | -3.3 | 2.52 | -81.62 | 2.42 | -79.26 | 2.25 | -77.9 | 1.84 | -76.13 | 0.66 | 1.54 | 7.86 | -58.46 | 48.79 | 40.32 | -55.12 | 0 | 155.12 | 394.74 | 0.06 | 6021.17 | 3.86 | -3.98 |
| 2021 (8) | 14.61 | 25.3 | 9.41 | 55.54 | 3.77 | -28.47 | 13.71 | 40.18 | 11.67 | 37.13 | 10.18 | 89.93 | 7.71 | 84.89 | 0.65 | 38.3 | 18.92 | 11.23 | 34.77 | 0.84 | 68.65 | 10.95 | 31.35 | -17.77 | 0.00 | 77.76 | 4.02 | -23.14 |
| 2020 (7) | 11.66 | 14.88 | 6.05 | 15.68 | 5.28 | 11.83 | 9.78 | -16.91 | 8.51 | -22.07 | 5.36 | -32.07 | 4.17 | -31.41 | 0.47 | -14.55 | 17.01 | -6.59 | 34.48 | -0.09 | 61.87 | 39.23 | 38.13 | -31.37 | 0.00 | 210.57 | 5.23 | 17.26 |
| 2019 (6) | 10.15 | -22.7 | 5.23 | -44.36 | 4.72 | 33.36 | 11.77 | -24.65 | 10.92 | -19.65 | 7.89 | -39.4 | 6.08 | -38.21 | 0.55 | -21.43 | 18.21 | -12.45 | 34.51 | -5.45 | 44.44 | -26.17 | 55.56 | 39.57 | 0.00 | 7.44 | 4.46 | 17.06 |
| 2018 (5) | 13.13 | -11.52 | 9.40 | -13.44 | 3.54 | -12.37 | 15.62 | -16.07 | 13.59 | -18.87 | 13.02 | -13.43 | 9.84 | -11.35 | 0.70 | 9.37 | 20.80 | -14.16 | 36.50 | -0.71 | 60.19 | 3.18 | 39.81 | -4.45 | 0.00 | 0 | 3.81 | -7.75 |
| 2017 (4) | 14.84 | -0.4 | 10.86 | 3.72 | 4.04 | -19.6 | 18.61 | 8.64 | 16.75 | 9.62 | 15.04 | 9.94 | 11.10 | 16.35 | 0.64 | 6.67 | 24.23 | 0.41 | 36.76 | -15.32 | 58.34 | -4.61 | 41.66 | 7.25 | 0.00 | 0 | 4.13 | -11.94 |
| 2016 (3) | 14.90 | 45.51 | 10.47 | 78.06 | 5.02 | 0.27 | 17.13 | 56.72 | 15.28 | 59.17 | 13.68 | 42.06 | 9.54 | 48.6 | 0.60 | -4.76 | 24.13 | 36.48 | 43.41 | -19.63 | 61.15 | 13.6 | 38.85 | -15.86 | 0.00 | 0 | 4.69 | 5.39 |
| 2015 (2) | 10.24 | 131.15 | 5.88 | 482.18 | 5.01 | 17.7 | 10.93 | 179.54 | 9.60 | 175.07 | 9.63 | 118.37 | 6.42 | 109.8 | 0.63 | -17.11 | 17.68 | 84.17 | 54.01 | -15.86 | 53.83 | 108.94 | 46.17 | -37.81 | 0.00 | 0 | 4.45 | 28.24 |
| 2014 (1) | 4.43 | 0 | 1.01 | 0 | 4.26 | 0.56 | 3.91 | 0 | 3.49 | 0 | 4.41 | 0 | 3.06 | 0 | 0.76 | -9.52 | 9.60 | -25.64 | 64.19 | -5.76 | 25.76 | -58.85 | 74.24 | 98.59 | 0.00 | 0 | 3.47 | 8.78 |
