- 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) | 8.80 | 94.69 | 1660.0 | -0.13 | 97.09 | 98.75 | -1.72 | 45.22 | 86.87 | -1.44 | 52.16 | 87.65 | -0.69 | 48.12 | 83.73 | -0.08 | 75.76 | 95.38 | 0.20 | 11.11 | 25.0 | 7.22 | 11.94 | 313.61 | 138.34 | -3.86 | 16.72 | 8.33 | -94.25 | -89.48 | 91.67 | 303.7 | 341.15 | 12.27 | -1.68 | -12.48 |
| 23Q3 (19) | 4.52 | 451.22 | 289.12 | -4.46 | 48.44 | 62.93 | -3.14 | 60.7 | 54.76 | -3.01 | 59.6 | 55.21 | -1.33 | 55.52 | 50.0 | -0.33 | 68.57 | 68.27 | 0.18 | 5.88 | 0.0 | 6.45 | 197.24 | 288.55 | 143.89 | 2.14 | 15.02 | 145.00 | 33.85 | -16.62 | -45.00 | -440.0 | 39.12 | 12.48 | -3.48 | 12.53 |
| 23Q2 (18) | 0.82 | 128.87 | -89.21 | -8.65 | 39.34 | -199.31 | -7.99 | 50.65 | -968.48 | -7.45 | 50.69 | -2010.26 | -2.99 | 39.6 | -1968.75 | -1.05 | 47.5 | -600.0 | 0.17 | 13.33 | -10.53 | 2.17 | 150.35 | -75.14 | 140.87 | 6.66 | 15.01 | 108.33 | 23.17 | 136.11 | -8.33 | -169.17 | -102.16 | 12.93 | -18.32 | -4.79 |
| 23Q1 (17) | -2.84 | -668.0 | -117.85 | -14.26 | -37.38 | -370.08 | -16.19 | -23.59 | -349.46 | -15.11 | -29.59 | -378.78 | -4.95 | -16.75 | -300.4 | -2.00 | -15.61 | -257.48 | 0.15 | -6.25 | -28.57 | -4.31 | -27.51 | -132.0 | 132.07 | 11.43 | 12.57 | 87.95 | 11.02 | 8.41 | 12.05 | -42.02 | -36.14 | 15.83 | 12.91 | 25.34 |
| 22Q4 (16) | 0.50 | 120.92 | -96.68 | -10.38 | 13.72 | -325.65 | -13.10 | -88.76 | -383.55 | -11.66 | -73.51 | -384.39 | -4.24 | -59.4 | -300.95 | -1.73 | -66.35 | -253.1 | 0.16 | -11.11 | -33.33 | -3.38 | -303.61 | -130.56 | 118.52 | -5.26 | 7.92 | 79.22 | -54.45 | -20.78 | 20.78 | 128.11 | 0 | 14.02 | 26.42 | 16.64 |
| 22Q3 (15) | -2.39 | -131.45 | -114.18 | -12.03 | -316.26 | -272.6 | -6.94 | -854.35 | -250.87 | -6.72 | -1823.08 | -245.45 | -2.66 | -1762.5 | -199.25 | -1.04 | -595.24 | -175.36 | 0.18 | -5.26 | -33.33 | 1.66 | -80.99 | -84.15 | 125.10 | 2.14 | 12.06 | 173.91 | 157.97 | 13.42 | -73.91 | -119.16 | -44.61 | 11.09 | -18.34 | 6.33 |
| 22Q2 (14) | 7.60 | -52.23 | -58.15 | -2.89 | -154.73 | -134.78 | 0.92 | -85.82 | -87.02 | 0.39 | -92.8 | -93.66 | 0.16 | -93.52 | -95.29 | 0.21 | -83.46 | -87.5 | 0.19 | -9.52 | -24.0 | 8.73 | -35.19 | -33.81 | 122.48 | 4.4 | 6.13 | -300.00 | -469.77 | -356.58 | 385.71 | 1944.29 | 2379.22 | 13.58 | 7.52 | 29.21 |
| 22Q1 (13) | 15.91 | 5.57 | -20.01 | 5.28 | 14.78 | -21.31 | 6.49 | 40.48 | 12.28 | 5.42 | 32.2 | 5.65 | 2.47 | 17.06 | -1.2 | 1.27 | 12.39 | 0.0 | 0.21 | -12.5 | -4.55 | 13.47 | 21.79 | 6.23 | 117.32 | 6.83 | -1.43 | 81.13 | -18.87 | -29.79 | 18.87 | 0 | 221.29 | 12.63 | 5.07 | 1.36 |
| 21Q4 (12) | 15.07 | -10.56 | -3.64 | 4.60 | -34.0 | 5.5 | 4.62 | 0.43 | -7.78 | 4.10 | -11.26 | -14.76 | 2.11 | -21.27 | -15.94 | 1.13 | -18.12 | -13.08 | 0.24 | -11.11 | 0.0 | 11.06 | 5.64 | -5.95 | 109.82 | -1.63 | -5.76 | 100.00 | -34.78 | 13.89 | 0.00 | 100.0 | -100.0 | 12.02 | 15.24 | 14.48 |
| 21Q3 (11) | 16.85 | -7.21 | 31.74 | 6.97 | -16.13 | 33.02 | 4.60 | -35.12 | -41.25 | 4.62 | -24.88 | -37.14 | 2.68 | -21.18 | -22.09 | 1.38 | -17.86 | -20.23 | 0.27 | 8.0 | 22.73 | 10.47 | -20.62 | -31.61 | 111.64 | -3.27 | -4.12 | 153.33 | 31.14 | 132.07 | -51.11 | -202.02 | -259.01 | 10.43 | -0.76 | 0.77 |
| 21Q2 (10) | 18.16 | -8.7 | 820.63 | 8.31 | 23.85 | 145.46 | 7.09 | 22.66 | 152.25 | 6.15 | 19.88 | 150.95 | 3.40 | 36.0 | 232.81 | 1.68 | 32.28 | 260.0 | 0.25 | 13.64 | 150.0 | 13.19 | 4.02 | 505.05 | 115.41 | -3.03 | 1.11 | 116.92 | 1.18 | -12.8 | -16.92 | -8.79 | 50.36 | 10.51 | -15.65 | -49.59 |
| 21Q1 (9) | 19.89 | 27.17 | 120.02 | 6.71 | 53.9 | 11083.33 | 5.78 | 15.37 | 551.56 | 5.13 | 6.65 | 424.68 | 2.50 | -0.4 | 408.64 | 1.27 | -2.31 | 652.17 | 0.22 | -8.33 | -4.35 | 12.68 | 7.82 | 155.65 | 119.02 | 2.14 | -0.77 | 115.56 | 31.6 | 0 | -15.56 | -227.56 | -114.14 | 12.46 | 18.67 | 28.85 |
| 20Q4 (8) | 15.64 | 22.28 | 889.87 | 4.36 | -16.79 | 173.28 | 5.01 | -36.02 | 139.17 | 4.81 | -34.56 | 139.95 | 2.51 | -27.03 | 146.48 | 1.30 | -24.86 | 156.03 | 0.24 | 9.09 | 20.0 | 11.76 | -23.19 | 304.17 | 116.53 | 0.08 | -3.37 | 87.80 | 32.89 | 90.24 | 12.20 | -62.06 | -77.35 | 10.50 | 1.45 | 8.25 |
| 20Q3 (7) | 12.79 | 607.54 | 25.52 | 5.24 | 128.67 | 102.32 | 7.83 | 157.7 | 474.64 | 7.35 | 160.89 | 368.25 | 3.44 | 234.38 | 373.02 | 1.73 | 264.76 | 493.18 | 0.22 | 120.0 | 4.76 | 15.31 | 602.29 | 181.95 | 116.44 | 2.02 | -2.31 | 66.07 | -50.73 | 152.86 | 32.14 | 194.29 | -85.31 | 10.35 | -50.36 | 9.64 |
| 20Q2 (6) | -2.52 | -127.88 | -129.23 | -18.28 | -30566.67 | -2065.59 | -13.57 | -960.16 | -935.88 | -12.07 | -663.92 | -601.74 | -2.56 | -216.05 | -197.67 | -1.05 | -356.52 | -303.85 | 0.10 | -56.52 | -56.52 | 2.18 | -56.05 | -63.91 | 114.14 | -4.84 | -1.7 | 134.09 | 0 | 284.38 | -34.09 | -130.99 | -120.83 | 20.85 | 115.62 | 110.61 |
| 20Q1 (5) | 9.04 | 472.15 | 25.91 | 0.06 | 101.01 | -93.62 | -1.28 | 89.99 | -487.88 | -1.58 | 86.88 | -173.15 | -0.81 | 85.0 | -162.31 | -0.23 | 90.09 | -131.94 | 0.23 | 15.0 | -14.81 | 4.96 | 186.11 | -23.81 | 119.94 | -0.55 | 0.2 | -0.00 | -100.0 | -100.0 | 110.00 | 104.29 | 155.0 | 9.67 | -0.31 | 14.71 |
| 19Q4 (4) | 1.58 | -84.49 | 0.0 | -5.95 | -329.73 | 0.0 | -12.79 | -511.96 | 0.0 | -12.04 | -339.42 | 0.0 | -5.40 | -328.57 | 0.0 | -2.32 | -427.27 | 0.0 | 0.20 | -4.76 | 0.0 | -5.76 | -206.08 | 0.0 | 120.60 | 1.18 | 0.0 | 46.15 | 136.92 | 0.0 | 53.85 | -75.38 | 0.0 | 9.70 | 2.75 | 0.0 |
| 19Q3 (3) | 10.19 | 18.21 | 0.0 | 2.59 | 178.49 | 0.0 | -2.09 | -59.54 | 0.0 | -2.74 | -59.3 | 0.0 | -1.26 | -46.51 | 0.0 | -0.44 | -69.23 | 0.0 | 0.21 | -8.7 | 0.0 | 5.43 | -10.1 | 0.0 | 119.19 | 2.65 | 0.0 | -125.00 | -71.88 | 0.0 | 218.75 | 33.68 | 0.0 | 9.44 | -4.65 | 0.0 |
| 19Q2 (2) | 8.62 | 20.06 | 0.0 | 0.93 | -1.06 | 0.0 | -1.31 | -496.97 | 0.0 | -1.72 | -179.63 | 0.0 | -0.86 | -166.15 | 0.0 | -0.26 | -136.11 | 0.0 | 0.23 | -14.81 | 0.0 | 6.04 | -7.22 | 0.0 | 116.11 | -3.0 | 0.0 | -72.73 | -124.24 | 0.0 | 163.64 | 181.82 | 0.0 | 9.90 | 17.44 | 0.0 |
| 19Q1 (1) | 7.18 | 0.0 | 0.0 | 0.94 | 0.0 | 0.0 | 0.33 | 0.0 | 0.0 | 2.16 | 0.0 | 0.0 | 1.30 | 0.0 | 0.0 | 0.72 | 0.0 | 0.0 | 0.27 | 0.0 | 0.0 | 6.51 | 0.0 | 0.0 | 119.70 | 0.0 | 0.0 | 300.00 | 0.0 | 0.0 | -200.00 | 0.0 | 0.0 | 8.43 | 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) | 3.29 | -46.33 | -6.30 | 0 | 7.58 | 13.49 | -6.64 | 0 | -6.17 | 0 | -9.96 | 0 | -3.51 | 0 | 0.71 | -8.97 | 3.34 | -42.91 | 138.34 | 16.72 | 95.09 | -48.86 | 4.91 | 0 | 0.06 | -32.44 | 13.23 | 3.36 |
| 2022 (9) | 6.13 | -64.77 | -4.28 | 0 | 6.68 | 26.19 | -2.31 | 0 | -2.40 | 0 | -3.98 | 0 | -1.26 | 0 | 0.78 | -22.77 | 5.85 | -50.38 | 118.52 | 7.92 | 185.94 | 53.13 | -85.94 | 0 | 0.09 | 5.68 | 12.80 | 13.27 |
| 2021 (8) | 17.40 | 62.77 | 6.66 | 1089.29 | 5.29 | -18.44 | 5.50 | 237.42 | 4.99 | 224.03 | 10.68 | 312.36 | 5.52 | 220.93 | 1.01 | 31.17 | 11.79 | 23.71 | 109.82 | -5.76 | 121.43 | 248.1 | -20.92 | 0 | 0.08 | 0 | 11.30 | -1.48 |
| 2020 (7) | 10.69 | 52.28 | 0.56 | 0 | 6.49 | 10.76 | 1.63 | 0 | 1.54 | 0 | 2.59 | 0 | 1.72 | 0 | 0.77 | -17.2 | 9.53 | 170.74 | 116.53 | -3.37 | 34.88 | 562.79 | 65.12 | -31.9 | 0.00 | 0 | 11.47 | 23.2 |
| 2019 (6) | 7.02 | 107.69 | -0.18 | 0 | 5.86 | 20.32 | -3.47 | 0 | -3.01 | 0 | -6.22 | 0 | -2.24 | 0 | 0.93 | -16.96 | 3.52 | 19.32 | 120.60 | -2.46 | 5.26 | -94.0 | 95.61 | 678.57 | 0.00 | 0 | 9.31 | 10.83 |
| 2018 (5) | 3.38 | -50.51 | -2.44 | 0 | 4.87 | 3.84 | -2.77 | 0 | -2.54 | 0 | -6.17 | 0 | -2.31 | 0 | 1.12 | 2.75 | 2.95 | -46.07 | 123.64 | 10.59 | 87.72 | 0 | 12.28 | -95.81 | 0.00 | 0 | 8.40 | -6.46 |
| 2017 (4) | 6.83 | 36.6 | 0.67 | 0 | 4.69 | 13.42 | -0.36 | 0 | -0.07 | 0 | -0.17 | 0 | 0.74 | 0 | 1.09 | 6.86 | 5.47 | 355.83 | 111.80 | 6.36 | -192.86 | 0 | 292.86 | 720.0 | 0.00 | 0 | 8.98 | -3.23 |
| 2016 (3) | 5.00 | -25.82 | -2.21 | 0 | 4.13 | 15.21 | -3.43 | 0 | -2.76 | 0 | -5.61 | 0 | -2.40 | 0 | 1.02 | -12.07 | 1.20 | -71.96 | 105.11 | 12.33 | 64.29 | 0 | 35.71 | -82.92 | 0.00 | 0 | 9.28 | 10.21 |
| 2015 (2) | 6.74 | -6.65 | -0.29 | 0 | 3.59 | 36.27 | 0.27 | -79.07 | 0.20 | -81.48 | 0.42 | -86.18 | 0.61 | -69.19 | 1.16 | -26.11 | 4.28 | 2.64 | 93.57 | 15.36 | -109.09 | 0 | 209.09 | 177.37 | 0.00 | 0 | 8.42 | 27.0 |
| 2014 (1) | 7.22 | 0 | 0.31 | 0 | 2.63 | 2.79 | 1.29 | 0 | 1.08 | 0 | 3.04 | 0 | 1.98 | 0 | 1.57 | -11.8 | 4.17 | -20.72 | 81.11 | 1.71 | 23.08 | -74.15 | 75.38 | 603.59 | 0.00 | 0 | 6.63 | 4.74 |
