- 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) | 15.25 | 20.74 | 3.67 | 5.39 | 102.63 | 48.08 | 1.22 | -77.94 | -34.41 | 1.20 | -77.9 | 13.21 | 0.26 | -78.86 | 23.81 | 0.15 | -60.53 | 36.36 | 0.05 | -16.67 | 0.0 | 8.93 | -27.81 | 7.2 | 316.36 | 3.15 | 7.46 | 439.67 | 815.98 | 125.07 | -339.67 | -753.21 | -256.24 | 0.34 | 9.68 | -10.53 |
| 23Q3 (19) | 12.63 | -15.12 | -32.71 | 2.66 | -38.28 | -68.14 | 5.53 | -4.33 | -61.81 | 5.43 | 41.41 | -54.45 | 1.23 | 55.7 | -58.72 | 0.38 | 40.74 | -50.65 | 0.06 | 20.0 | 0.0 | 12.37 | -2.37 | -36.66 | 306.71 | -2.73 | -1.06 | 48.00 | -35.64 | -16.73 | 52.00 | 104.58 | 22.59 | 0.31 | 3.33 | -3.13 |
| 23Q2 (18) | 14.88 | -8.6 | -26.45 | 4.31 | -23.31 | -57.95 | 5.78 | 95.93 | -53.98 | 3.84 | 166.67 | -57.62 | 0.79 | 182.14 | -66.38 | 0.27 | 92.86 | -55.74 | 0.05 | 0.0 | -16.67 | 12.67 | 26.95 | -26.76 | 315.33 | 2.65 | -1.42 | 74.58 | -60.87 | -8.64 | 25.42 | 128.05 | 37.87 | 0.30 | -21.05 | 20.0 |
| 23Q1 (17) | 16.28 | 10.67 | -25.32 | 5.62 | 54.4 | -49.46 | 2.95 | 58.6 | -74.94 | 1.44 | 35.85 | -84.47 | 0.28 | 33.33 | -88.52 | 0.14 | 27.27 | -77.42 | 0.05 | 0.0 | -16.67 | 9.98 | 19.81 | -37.82 | 307.20 | 4.35 | -2.58 | 190.60 | -2.43 | 101.9 | -90.60 | 4.98 | -1718.37 | 0.38 | 0.0 | 52.0 |
| 22Q4 (16) | 14.71 | -21.63 | -40.92 | 3.64 | -56.41 | -73.49 | 1.86 | -87.15 | -84.95 | 1.06 | -91.11 | -89.31 | 0.21 | -92.95 | -91.5 | 0.11 | -85.71 | -82.54 | 0.05 | -16.67 | -16.67 | 8.33 | -57.35 | -50.39 | 294.40 | -5.03 | -8.92 | 195.35 | 238.88 | 75.96 | -95.35 | -324.79 | -759.95 | 0.38 | 18.75 | 31.03 |
| 22Q3 (15) | 18.77 | -7.22 | -23.01 | 8.35 | -18.54 | -37.08 | 14.48 | 15.29 | -2.82 | 11.92 | 31.57 | -8.66 | 2.98 | 26.81 | -8.59 | 0.77 | 26.23 | -4.94 | 0.06 | 0.0 | 0.0 | 19.53 | 12.89 | 0.05 | 309.99 | -3.09 | -0.61 | 57.64 | -29.39 | -35.29 | 42.42 | 130.08 | 288.58 | 0.32 | 28.0 | 18.52 |
| 22Q2 (14) | 20.23 | -7.2 | -27.36 | 10.25 | -7.82 | -41.06 | 12.56 | 6.71 | -18.92 | 9.06 | -2.27 | -24.69 | 2.35 | -3.69 | -25.4 | 0.61 | -1.61 | -19.74 | 0.06 | 0.0 | 0.0 | 17.30 | 7.79 | -13.97 | 319.87 | 1.44 | -4.79 | 81.63 | -13.53 | -27.28 | 18.44 | 229.3 | 249.61 | 0.25 | 0.0 | -7.41 |
| 22Q1 (13) | 21.80 | -12.45 | -9.99 | 11.12 | -19.01 | -18.05 | 11.77 | -4.77 | 7.39 | 9.27 | -6.55 | 1.42 | 2.44 | -1.21 | 11.42 | 0.62 | -1.59 | 10.71 | 0.06 | 0.0 | 0.0 | 16.05 | -4.41 | -0.06 | 315.33 | -2.44 | -5.45 | 94.40 | -14.97 | -23.76 | 5.60 | 150.49 | 123.5 | 0.25 | -13.79 | -13.79 |
| 21Q4 (12) | 24.90 | 2.13 | 5.29 | 13.73 | 3.47 | 0.22 | 12.36 | -17.05 | 10.75 | 9.92 | -23.98 | 5.53 | 2.47 | -24.23 | 25.38 | 0.63 | -22.22 | 26.0 | 0.06 | 0.0 | 20.0 | 16.79 | -13.99 | 2.0 | 323.23 | 3.64 | 3.42 | 111.02 | 24.62 | -9.61 | -11.09 | -201.58 | 51.41 | 0.29 | 7.41 | -30.95 |
| 21Q3 (11) | 24.38 | -12.46 | 8.89 | 13.27 | -23.69 | 12.46 | 14.90 | -3.81 | 12.03 | 13.05 | 8.48 | 9.21 | 3.26 | 3.49 | 48.18 | 0.81 | 6.58 | 42.11 | 0.06 | 0.0 | 50.0 | 19.52 | -2.93 | -4.22 | 311.89 | -7.16 | -5.81 | 89.08 | -20.65 | 0.38 | 10.92 | 188.59 | -3.03 | 0.27 | 0.0 | -30.77 |
| 21Q2 (10) | 27.85 | 14.99 | 14.09 | 17.39 | 28.15 | 33.98 | 15.49 | 41.33 | 859.31 | 12.03 | 31.62 | -51.71 | 3.15 | 43.84 | 397.17 | 0.76 | 35.71 | 944.44 | 0.06 | 0.0 | 50.0 | 20.11 | 25.22 | 124.44 | 335.95 | 0.73 | 9.68 | 112.26 | -9.34 | 117.63 | -12.32 | 48.28 | -101.67 | 0.27 | -6.9 | 0 |
| 21Q1 (9) | 24.22 | 2.41 | 39.52 | 13.57 | -0.95 | 89.53 | 10.96 | -1.79 | 99.27 | 9.14 | -2.77 | 313.57 | 2.19 | 11.17 | 167.07 | 0.56 | 12.0 | 80.65 | 0.06 | 20.0 | 20.0 | 16.06 | -2.43 | 22.32 | 333.52 | 6.71 | 4.92 | 123.83 | 0.82 | 29.72 | -23.83 | -4.42 | -624.2 | 0.29 | -30.95 | 0 |
| 20Q4 (8) | 23.65 | 5.63 | 1.42 | 13.70 | 16.1 | 1.03 | 11.16 | -16.09 | 187.63 | 9.40 | -21.34 | 146.07 | 1.97 | -10.45 | 143.21 | 0.50 | -12.28 | -9.09 | 0.05 | 25.0 | 0.0 | 16.46 | -19.23 | -10.83 | 312.55 | -5.61 | 0.27 | 122.82 | 38.4 | -64.83 | -22.82 | -302.72 | 90.85 | 0.42 | 7.69 | 0 |
| 20Q3 (7) | 22.39 | -8.28 | 30.02 | 11.80 | -9.09 | 36.73 | 13.30 | 751.96 | 23.26 | 11.95 | -52.03 | 26.46 | 2.20 | 307.55 | -7.56 | 0.57 | 733.33 | -8.06 | 0.04 | 0.0 | -33.33 | 20.38 | 127.46 | 21.96 | 331.14 | 8.11 | 6.62 | 88.74 | 113.94 | 10.98 | 11.26 | -98.47 | -43.83 | 0.39 | 0 | 25.81 |
| 20Q2 (6) | 24.41 | 40.61 | 51.24 | 12.98 | 81.28 | 54.89 | -2.04 | -137.09 | -122.59 | 24.91 | 1027.15 | 283.23 | -1.06 | -229.27 | -160.23 | -0.09 | -129.03 | -118.75 | 0.04 | -20.0 | -42.86 | 8.96 | -31.76 | -38.8 | 306.30 | -3.64 | 1.85 | -636.69 | -767.01 | -786.3 | 736.69 | 16107.19 | 10090.89 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 17.36 | -25.56 | 27.18 | 7.16 | -47.2 | 21.56 | 5.50 | 41.75 | 3.97 | 2.21 | -42.15 | -45.83 | 0.82 | 1.23 | -23.36 | 0.31 | -43.64 | 0.0 | 0.05 | 0.0 | -28.57 | 13.13 | -28.87 | 18.29 | 317.88 | 1.98 | 7.54 | 95.45 | -72.66 | -14.14 | 4.55 | 101.82 | 140.67 | 0.00 | 0 | -100.0 |
| 19Q4 (4) | 23.32 | 35.42 | 0.0 | 13.56 | 57.13 | 0.0 | 3.88 | -64.04 | 0.0 | 3.82 | -59.58 | 0.0 | 0.81 | -65.97 | 0.0 | 0.55 | -11.29 | 0.0 | 0.05 | -16.67 | 0.0 | 18.46 | 10.47 | 0.0 | 311.72 | 0.37 | 0.0 | 349.20 | 336.72 | 0.0 | -249.52 | -1345.15 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 17.22 | 6.69 | 0.0 | 8.63 | 2.98 | 0.0 | 10.79 | 19.49 | 0.0 | 9.45 | 45.38 | 0.0 | 2.38 | 35.23 | 0.0 | 0.62 | 29.17 | 0.0 | 0.06 | -14.29 | 0.0 | 16.71 | 14.14 | 0.0 | 310.57 | 3.27 | 0.0 | 79.96 | -13.81 | 0.0 | 20.04 | 177.21 | 0.0 | 0.31 | 10.71 | 0.0 |
| 19Q2 (2) | 16.14 | 18.24 | 0.0 | 8.38 | 42.28 | 0.0 | 9.03 | 70.7 | 0.0 | 6.50 | 59.31 | 0.0 | 1.76 | 64.49 | 0.0 | 0.48 | 54.84 | 0.0 | 0.07 | 0.0 | 0.0 | 14.64 | 31.89 | 0.0 | 300.75 | 1.74 | 0.0 | 92.77 | -16.55 | 0.0 | 7.23 | 164.69 | 0.0 | 0.28 | -6.67 | 0.0 |
| 19Q1 (1) | 13.65 | 0.0 | 0.0 | 5.89 | 0.0 | 0.0 | 5.29 | 0.0 | 0.0 | 4.08 | 0.0 | 0.0 | 1.07 | 0.0 | 0.0 | 0.31 | 0.0 | 0.0 | 0.07 | 0.0 | 0.0 | 11.10 | 0.0 | 0.0 | 295.60 | 0.0 | 0.0 | 111.18 | 0.0 | 0.0 | -11.18 | 0.0 | 0.0 | 0.30 | 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) | 14.70 | -23.2 | 4.45 | -48.44 | 5.15 | 29.58 | 3.89 | -63.3 | 3.03 | -62.96 | 2.52 | -67.86 | 0.94 | -55.66 | 0.20 | -13.04 | 11.01 | -29.65 | 316.36 | 7.46 | 114.39 | 40.56 | -14.39 | 0 | 0.22 | -8.12 | 0.33 | 10.0 |
| 2022 (9) | 19.14 | -24.5 | 8.63 | -40.48 | 3.97 | 3.63 | 10.60 | -21.31 | 8.18 | -26.11 | 7.84 | -27.34 | 2.12 | -22.63 | 0.23 | 0.0 | 15.65 | -13.77 | 294.40 | -8.92 | 81.38 | -24.37 | 18.62 | 0 | 0.24 | 58.5 | 0.30 | 7.14 |
| 2021 (8) | 25.35 | 22.58 | 14.50 | 42.16 | 3.83 | -32.64 | 13.47 | 81.78 | 11.07 | -4.9 | 10.79 | 171.11 | 2.74 | 144.64 | 0.23 | 21.05 | 18.15 | 28.54 | 323.23 | 3.42 | 107.61 | -21.77 | -7.61 | 0 | 0.15 | -10.65 | 0.28 | -30.0 |
| 2020 (7) | 20.68 | 32.23 | 10.20 | 40.88 | 5.69 | 8.31 | 7.41 | 0.41 | 11.64 | 93.03 | 3.98 | -33.56 | 1.12 | -31.71 | 0.19 | -24.0 | 14.12 | 5.45 | 312.55 | 0.27 | 137.55 | 40.19 | -37.55 | 0 | 0.17 | -9.64 | 0.40 | 17.65 |
| 2019 (6) | 15.64 | -0.82 | 7.24 | -10.73 | 5.25 | 19.03 | 7.38 | -15.37 | 6.03 | -12.1 | 5.99 | -24.27 | 1.64 | -22.64 | 0.25 | -13.79 | 13.39 | -2.41 | 311.72 | 7.79 | 98.11 | 5.55 | 1.89 | -73.11 | 0.19 | -9.1 | 0.34 | 3.03 |
| 2018 (5) | 15.77 | 18.04 | 8.11 | 55.36 | 4.41 | -8.98 | 8.72 | 99.54 | 6.86 | 119.17 | 7.91 | 141.9 | 2.12 | 125.53 | 0.29 | 11.54 | 13.72 | 40.14 | 289.19 | -6.24 | 92.96 | -22.25 | 7.01 | 0 | 0.20 | 0.75 | 0.33 | -19.51 |
| 2017 (4) | 13.36 | 11.43 | 5.22 | 28.57 | 4.85 | -1.95 | 4.37 | 17.16 | 3.13 | 10.6 | 3.27 | 13.54 | 0.94 | 11.9 | 0.26 | 0.0 | 9.79 | 6.3 | 308.43 | 6.73 | 119.56 | 10.11 | -19.62 | 0 | 0.20 | 0 | 0.41 | 2.5 |
| 2016 (3) | 11.99 | 0.0 | 4.06 | 6.56 | 4.95 | 6.32 | 3.73 | 26.01 | 2.83 | 26.34 | 2.88 | 19.01 | 0.84 | 10.53 | 0.26 | -7.14 | 9.21 | 11.5 | 288.97 | -2.33 | 108.58 | -15.69 | -8.66 | 0 | 0.00 | 0 | 0.40 | 0.0 |
| 2015 (2) | 11.99 | -5.96 | 3.81 | -26.59 | 4.65 | 14.86 | 2.96 | -39.47 | 2.24 | -45.76 | 2.42 | -51.79 | 0.76 | -58.92 | 0.28 | -15.15 | 8.26 | -23.45 | 295.86 | 6.51 | 128.78 | 21.17 | -28.78 | 0 | 0.00 | 0 | 0.40 | -9.09 |
| 2014 (1) | 12.75 | 0 | 5.19 | 0 | 4.05 | -1.53 | 4.89 | 0 | 4.13 | 0 | 5.02 | 0 | 1.85 | 0 | 0.33 | -8.33 | 10.79 | 1.22 | 277.78 | 6.04 | 106.29 | -12.62 | -6.29 | 0 | 0.00 | 0 | 0.44 | 29.41 |
