- 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) | 4.66 | 174.12 | -3.92 | -3.43 | 55.1 | -72.36 | 5.20 | -61.08 | 265.08 | 6.62 | -43.85 | 370.2 | 0.90 | -31.82 | 357.14 | 0.85 | -30.89 | 357.58 | 0.13 | 30.0 | 0.0 | 8.22 | -53.22 | 3061.54 | 6.00 | 2.74 | -21.05 | -68.42 | -16.02 | -202.63 | 163.16 | 2.63 | 291.58 | 13.96 | -10.8 | 29.86 |
| 23Q3 (19) | 1.70 | -63.44 | -72.84 | -7.64 | -124.71 | -582.14 | 13.36 | 443.09 | 11.61 | 11.79 | 558.66 | 7.47 | 1.32 | 594.74 | -20.48 | 1.23 | 623.53 | -15.75 | 0.10 | 0.0 | -23.08 | 17.57 | 145.05 | 14.24 | 5.84 | -37.41 | -25.61 | -58.97 | 54.13 | -466.15 | 158.97 | -30.45 | 43.98 | 15.65 | 9.29 | 17.23 |
| 23Q2 (18) | 4.65 | 229.79 | -68.92 | -3.40 | 50.72 | -136.84 | 2.46 | 145.22 | -76.84 | 1.79 | 139.34 | -78.43 | 0.19 | 142.22 | -87.5 | 0.17 | 141.46 | -87.31 | 0.10 | 11.11 | -37.5 | 7.17 | 1986.84 | -46.21 | 9.33 | -6.33 | -49.87 | -128.57 | -200.0 | -247.72 | 228.57 | 900.0 | 1663.27 | 14.32 | -12.52 | 26.06 |
| 23Q1 (17) | 1.41 | -70.93 | -92.57 | -6.90 | -246.73 | -152.67 | -5.44 | -72.7 | -139.31 | -4.55 | -85.71 | -145.82 | -0.45 | -28.57 | -125.14 | -0.41 | -24.24 | -125.47 | 0.09 | -30.77 | -43.75 | -0.38 | -246.15 | -102.3 | 9.96 | 31.05 | 13.96 | 128.57 | 92.86 | 36.25 | -28.57 | -168.57 | -607.14 | 16.37 | 52.28 | 35.63 |
| 22Q4 (16) | 4.85 | -22.52 | -71.32 | -1.99 | -77.68 | -118.58 | -3.15 | -126.32 | -125.69 | -2.45 | -122.33 | -124.26 | -0.35 | -121.08 | -116.28 | -0.33 | -122.6 | -117.01 | 0.13 | 0.0 | -31.58 | 0.26 | -98.31 | -98.23 | 7.60 | -3.18 | -41.98 | 66.67 | 740.0 | -22.75 | 41.67 | -62.26 | 237.96 | 10.75 | -19.48 | -3.07 |
| 22Q3 (15) | 6.26 | -58.16 | -61.9 | -1.12 | -112.13 | -110.98 | 11.97 | 12.71 | -1.97 | 10.97 | 32.17 | 12.98 | 1.66 | 9.21 | -5.14 | 1.46 | 8.96 | -9.32 | 0.13 | -18.75 | -23.53 | 15.38 | 15.38 | 1.38 | 7.85 | -57.82 | -14.58 | -10.42 | -111.97 | -112.46 | 110.42 | 751.79 | 573.54 | 13.35 | 17.52 | 18.98 |
| 22Q2 (14) | 14.96 | -21.14 | -16.52 | 9.23 | -29.54 | -14.62 | 10.62 | -23.27 | -58.58 | 8.30 | -16.41 | -62.46 | 1.52 | -15.08 | -61.52 | 1.34 | -16.77 | -63.29 | 0.16 | 0.0 | -5.88 | 13.33 | -19.21 | -53.24 | 18.61 | 112.93 | 123.14 | 87.04 | -7.77 | 106.92 | 12.96 | 130.09 | -77.63 | 11.36 | -5.88 | -18.33 |
| 22Q1 (13) | 18.97 | 12.18 | -8.0 | 13.10 | 22.32 | 0.46 | 13.84 | 12.89 | -52.55 | 9.93 | -1.68 | -62.11 | 1.79 | -16.74 | -65.44 | 1.61 | -17.01 | -66.25 | 0.16 | -15.79 | -11.11 | 16.50 | 12.47 | -48.39 | 8.74 | -33.28 | 10.21 | 94.37 | 9.34 | 111.27 | 5.63 | -54.3 | -89.82 | 12.07 | 8.84 | -16.76 |
| 21Q4 (12) | 16.91 | 2.92 | 3.17 | 10.71 | 5.0 | 24.39 | 12.26 | 0.41 | -23.09 | 10.10 | 4.02 | -29.96 | 2.15 | 22.86 | -17.31 | 1.94 | 20.5 | -19.5 | 0.19 | 11.76 | 11.76 | 14.67 | -3.3 | -24.11 | 13.10 | 42.55 | 39.66 | 86.30 | 3.22 | 61.25 | 12.33 | -24.79 | -73.47 | 11.09 | -1.16 | -12.4 |
| 21Q3 (11) | 16.43 | -8.31 | 32.61 | 10.20 | -5.64 | 153.73 | 12.21 | -52.38 | -25.14 | 9.71 | -56.08 | -38.62 | 1.75 | -55.7 | -15.05 | 1.61 | -55.89 | -13.9 | 0.17 | 0.0 | 41.67 | 15.17 | -46.79 | -27.9 | 9.19 | 10.19 | 42.92 | 83.61 | 98.76 | 248.36 | 16.39 | -71.7 | -78.43 | 11.22 | -19.34 | -19.63 |
| 21Q2 (10) | 17.92 | -13.09 | 272.97 | 10.81 | -17.1 | 144.78 | 25.64 | -12.1 | 231.22 | 22.11 | -15.64 | 264.88 | 3.95 | -23.75 | 593.75 | 3.65 | -23.48 | 600.0 | 0.17 | -5.56 | 240.0 | 28.51 | -10.82 | 417.84 | 8.34 | 5.17 | -37.39 | 42.06 | -5.83 | -66.35 | 57.94 | 4.7 | 331.75 | 13.91 | -4.07 | -44.52 |
| 21Q1 (9) | 20.62 | 25.81 | 48.99 | 13.04 | 51.45 | 89.81 | 29.17 | 83.0 | 1000.75 | 26.21 | 81.76 | 2444.66 | 5.18 | 99.23 | 3353.33 | 4.77 | 97.93 | 3307.14 | 0.18 | 5.88 | 28.57 | 31.97 | 65.39 | 358.68 | 7.93 | -15.46 | 23.14 | 44.67 | -16.54 | -82.82 | 55.33 | 19.05 | 134.58 | 14.50 | 14.53 | 19.44 |
| 20Q4 (8) | 16.39 | 32.28 | -3.19 | 8.61 | 114.18 | -12.41 | 15.94 | -2.27 | 56.58 | 14.42 | -8.85 | 73.73 | 2.60 | 26.21 | 68.83 | 2.41 | 28.88 | 68.53 | 0.17 | 41.67 | 0.0 | 19.33 | -8.13 | 40.48 | 9.38 | 45.88 | 13.97 | 53.52 | 123.0 | -44.1 | 46.48 | -38.84 | 992.25 | 12.66 | -9.31 | 19.32 |
| 20Q3 (7) | 12.39 | 219.59 | 2.23 | 4.02 | 116.65 | -10.86 | 16.31 | 183.47 | 26.93 | 15.82 | 217.97 | 35.21 | 2.06 | 357.5 | -1.44 | 1.87 | 356.16 | 0.0 | 0.12 | 140.0 | -25.0 | 21.04 | 334.56 | 27.13 | 6.43 | -51.73 | -9.69 | 24.00 | -80.8 | -32.8 | 76.00 | 404.0 | 18.22 | 13.96 | -44.32 | 14.15 |
| 20Q2 (6) | -10.36 | -174.86 | -164.59 | -24.14 | -451.38 | -341.4 | -19.54 | -837.36 | -307.87 | -13.41 | -1401.94 | -286.25 | -0.80 | -633.33 | -153.69 | -0.73 | -621.43 | -154.89 | 0.05 | -64.29 | -72.22 | -8.97 | -228.69 | -170.91 | 13.32 | 106.83 | -19.86 | 125.00 | -51.92 | 17.65 | -25.00 | 84.38 | -300.0 | 25.07 | 106.51 | 141.76 |
| 20Q1 (5) | 13.84 | -18.25 | -20.18 | 6.87 | -30.11 | -40.52 | 2.65 | -73.97 | -78.4 | 1.03 | -87.59 | -89.49 | 0.15 | -90.26 | -92.42 | 0.14 | -90.21 | -92.27 | 0.14 | -17.65 | -22.22 | 6.97 | -49.35 | -54.92 | 6.44 | -21.75 | -19.2 | 260.00 | 171.56 | 177.63 | -160.00 | -3860.0 | -2620.0 | 12.14 | 14.42 | 5.38 |
| 19Q4 (4) | 16.93 | 39.69 | 0.0 | 9.83 | 117.96 | 0.0 | 10.18 | -20.78 | 0.0 | 8.30 | -29.06 | 0.0 | 1.54 | -26.32 | 0.0 | 1.43 | -23.53 | 0.0 | 0.17 | 6.25 | 0.0 | 13.76 | -16.86 | 0.0 | 8.23 | 15.59 | 0.0 | 95.74 | 168.09 | 0.0 | 4.26 | -93.38 | 0.0 | 10.61 | -13.25 | 0.0 |
| 19Q3 (3) | 12.12 | -24.44 | 0.0 | 4.51 | -54.9 | 0.0 | 12.85 | 36.7 | 0.0 | 11.70 | 62.5 | 0.0 | 2.09 | 40.27 | 0.0 | 1.87 | 40.6 | 0.0 | 0.16 | -11.11 | 0.0 | 16.55 | 30.83 | 0.0 | 7.12 | -57.16 | 0.0 | 35.71 | -66.39 | 0.0 | 64.29 | 1128.57 | 0.0 | 12.23 | 17.94 | 0.0 |
| 19Q2 (2) | 16.04 | -7.5 | 0.0 | 10.00 | -13.42 | 0.0 | 9.40 | -23.39 | 0.0 | 7.20 | -26.53 | 0.0 | 1.49 | -24.75 | 0.0 | 1.33 | -26.52 | 0.0 | 0.18 | 0.0 | 0.0 | 12.65 | -18.18 | 0.0 | 16.62 | 108.53 | 0.0 | 106.25 | 13.45 | 0.0 | -6.25 | -198.44 | 0.0 | 10.37 | -9.98 | 0.0 |
| 19Q1 (1) | 17.34 | 0.0 | 0.0 | 11.55 | 0.0 | 0.0 | 12.27 | 0.0 | 0.0 | 9.80 | 0.0 | 0.0 | 1.98 | 0.0 | 0.0 | 1.81 | 0.0 | 0.0 | 0.18 | 0.0 | 0.0 | 15.46 | 0.0 | 0.0 | 7.97 | 0.0 | 0.0 | 93.65 | 0.0 | 0.0 | 6.35 | 0.0 | 0.0 | 11.52 | 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) | 3.22 | -73.17 | -5.21 | 0 | 4.09 | 35.09 | 4.27 | -51.91 | 4.35 | -38.3 | 1.92 | -58.62 | 1.80 | -57.24 | 0.41 | -31.67 | 8.34 | -30.15 | 6.00 | -21.05 | -123.53 | 0 | 223.53 | 513.76 | 0.03 | 0 | 14.98 | 26.2 |
| 2022 (9) | 12.00 | -33.11 | 5.63 | -49.64 | 3.03 | 11.35 | 8.88 | -54.51 | 7.05 | -57.94 | 4.64 | -64.77 | 4.21 | -64.41 | 0.60 | -15.49 | 11.94 | -46.36 | 7.60 | -41.98 | 62.96 | 9.58 | 36.42 | -14.88 | 0.00 | 0 | 11.87 | -5.94 |
| 2021 (8) | 17.94 | 54.26 | 11.18 | 242.94 | 2.72 | -42.4 | 19.52 | 140.99 | 16.76 | 118.51 | 13.17 | 238.56 | 11.83 | 230.45 | 0.71 | 51.06 | 22.26 | 72.69 | 13.10 | 39.66 | 57.46 | 44.34 | 42.79 | -28.92 | 0.03 | -13.95 | 12.62 | -11.31 |
| 2020 (7) | 11.63 | -25.97 | 3.26 | -64.29 | 4.72 | 45.92 | 8.10 | -27.22 | 7.67 | -16.45 | 3.89 | -44.74 | 3.58 | -44.24 | 0.47 | -32.86 | 12.89 | -11.04 | 9.38 | 13.97 | 39.81 | -51.32 | 60.19 | 238.99 | 0.04 | -50.93 | 14.23 | 27.62 |
| 2019 (6) | 15.71 | 7.53 | 9.13 | 4.46 | 3.23 | 14.81 | 11.13 | 0.82 | 9.18 | 0.33 | 7.04 | -10.32 | 6.42 | -9.7 | 0.70 | -10.26 | 14.49 | 3.65 | 8.23 | -26.06 | 81.78 | 3.32 | 17.76 | -14.84 | 0.07 | -31.16 | 11.15 | 6.8 |
| 2018 (5) | 14.61 | -12.88 | 8.74 | -20.26 | 2.82 | 14.46 | 11.04 | -9.8 | 9.15 | -10.29 | 7.85 | -11.2 | 7.11 | -11.9 | 0.78 | -1.27 | 13.98 | -5.6 | 11.13 | 16.91 | 79.15 | -11.64 | 20.85 | 100.02 | 0.11 | 0 | 10.44 | -1.51 |
| 2017 (4) | 16.77 | 6.61 | 10.96 | 16.22 | 2.46 | 1.16 | 12.24 | 0.25 | 10.20 | 0.89 | 8.84 | 7.94 | 8.07 | 8.32 | 0.79 | 6.76 | 14.81 | 0.82 | 9.52 | -1.45 | 89.58 | 16.06 | 10.42 | -54.32 | 0.00 | 0 | 10.60 | -1.21 |
| 2016 (3) | 15.73 | -7.03 | 9.43 | -15.43 | 2.43 | 17.55 | 12.21 | -41.8 | 10.11 | -45.96 | 8.19 | -48.75 | 7.45 | -48.76 | 0.74 | -5.13 | 14.69 | -36.3 | 9.66 | -6.21 | 77.18 | 45.28 | 22.82 | -51.31 | 0.00 | 0 | 10.73 | -6.94 |
| 2015 (2) | 16.92 | 48.29 | 11.15 | 56.6 | 2.07 | 12.45 | 20.98 | 124.87 | 18.71 | 128.17 | 15.98 | 97.04 | 14.54 | 97.02 | 0.78 | -13.33 | 23.06 | 105.34 | 10.30 | 10.16 | 53.12 | -30.34 | 46.88 | 97.47 | 0.00 | 0 | 11.53 | 43.77 |
| 2014 (1) | 11.41 | 0 | 7.12 | 0 | 1.84 | 7.1 | 9.33 | 0 | 8.20 | 0 | 8.11 | 0 | 7.38 | 0 | 0.90 | -4.26 | 11.23 | 15.77 | 9.35 | -16.07 | 76.26 | 38.73 | 23.74 | -47.28 | 0.00 | 0 | 8.02 | 4.56 |
