- 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) | 12.36 | -21.02 | -43.79 | 1.30 | -63.89 | -87.69 | -7.72 | -182.39 | -234.49 | -5.56 | -177.87 | -219.31 | -0.96 | -176.19 | -202.13 | -0.18 | -127.69 | -135.29 | 0.07 | 0.0 | -12.5 | 7.15 | -70.72 | -58.77 | 152.52 | -0.79 | -1.87 | -16.81 | -144.12 | -109.15 | 116.81 | 90.78 | 239.63 | 14.70 | -15.18 | -5.04 |
| 23Q3 (19) | 15.65 | -25.58 | -41.28 | 3.60 | -66.82 | -71.56 | 9.37 | -27.42 | -53.8 | 7.14 | -40.89 | -56.06 | 1.26 | -47.72 | -66.4 | 0.65 | -40.91 | -59.12 | 0.07 | -12.5 | -22.22 | 24.42 | -3.52 | -18.52 | 153.74 | -0.8 | 1.28 | 38.10 | -54.6 | -39.14 | 61.22 | 280.58 | 62.6 | 17.33 | 23.96 | 16.39 |
| 23Q2 (18) | 21.03 | 8.74 | -14.16 | 10.85 | 27.5 | 44.67 | 12.91 | 111.29 | 12.95 | 12.08 | 149.07 | 23.77 | 2.41 | 161.96 | 11.06 | 1.10 | 111.54 | 11.11 | 0.08 | 0.0 | -11.11 | 25.31 | 34.7 | 19.16 | 154.98 | 2.87 | 0.4 | 83.91 | -39.65 | 27.9 | 16.09 | 141.2 | -53.22 | 13.98 | -9.69 | 1.9 |
| 23Q1 (17) | 19.34 | -12.05 | 6.62 | 8.51 | -19.41 | 358.66 | 6.11 | 6.45 | 179.0 | 4.85 | 4.08 | 170.95 | 0.92 | -2.13 | 187.5 | 0.52 | 1.96 | 126.09 | 0.08 | 0.0 | 0.0 | 18.79 | 8.36 | 39.19 | 150.65 | -3.08 | 8.3 | 139.05 | -24.29 | 193.59 | -39.05 | 53.32 | -115.71 | 15.48 | 0.0 | -1.71 |
| 22Q4 (16) | 21.99 | -17.49 | -7.72 | 10.56 | -16.59 | 4011.11 | 5.74 | -71.7 | 382.35 | 4.66 | -71.32 | 390.53 | 0.94 | -74.93 | 422.22 | 0.51 | -67.92 | 218.75 | 0.08 | -11.11 | 0.0 | 17.34 | -42.14 | 52.37 | 155.43 | 2.39 | 9.96 | 183.65 | 193.42 | 1018.27 | -83.65 | -322.17 | -169.71 | 15.48 | 3.96 | 10.97 |
| 22Q3 (15) | 26.65 | 8.78 | -11.55 | 12.66 | 68.8 | 5.24 | 20.28 | 77.43 | 61.59 | 16.25 | 66.5 | 56.55 | 3.75 | 72.81 | 79.43 | 1.59 | 60.61 | 54.37 | 0.09 | 0.0 | 0.0 | 29.97 | 41.1 | 35.43 | 151.80 | -1.66 | 14.84 | 62.59 | -4.6 | -34.44 | 37.65 | 9.49 | 824.59 | 14.89 | 8.53 | 6.89 |
| 22Q2 (14) | 24.50 | 35.06 | 5.29 | 7.50 | 327.96 | -19.44 | 11.43 | 421.92 | 95.72 | 9.76 | 445.25 | 86.26 | 2.17 | 578.12 | 117.0 | 0.99 | 330.43 | 76.79 | 0.09 | 12.5 | 0.0 | 21.24 | 57.33 | 35.89 | 154.36 | 10.96 | 35.75 | 65.61 | 144.16 | -58.78 | 34.39 | -86.17 | 158.11 | 13.72 | -12.89 | -3.85 |
| 22Q1 (13) | 18.14 | -23.88 | -21.13 | -3.29 | -1118.52 | -158.33 | 2.19 | 84.03 | -47.23 | 1.79 | 88.42 | -48.12 | 0.32 | 77.78 | -55.56 | 0.23 | 43.75 | -43.9 | 0.08 | 0.0 | -11.11 | 13.50 | 18.63 | -9.27 | 139.11 | -1.58 | 26.07 | -148.57 | -642.86 | -208.51 | 248.57 | 107.14 | 802.48 | 15.75 | 12.9 | 6.13 |
| 21Q4 (12) | 23.83 | -20.91 | 2.63 | -0.27 | -102.24 | -103.05 | 1.19 | -90.52 | -85.18 | 0.95 | -90.85 | -86.79 | 0.18 | -91.39 | -90.82 | 0.16 | -84.47 | -80.72 | 0.08 | -11.11 | -20.0 | 11.38 | -48.58 | -38.12 | 141.35 | 6.94 | -24.18 | -20.00 | -120.95 | -118.16 | 120.00 | 2846.67 | 1282.86 | 13.95 | 0.14 | 4.81 |
| 21Q3 (11) | 30.13 | 29.48 | 44.86 | 12.03 | 29.22 | 71.61 | 12.55 | 114.9 | 216.12 | 10.38 | 98.09 | 219.38 | 2.09 | 109.0 | 207.35 | 1.03 | 83.93 | 171.05 | 0.09 | 0.0 | 28.57 | 22.13 | 41.59 | 27.18 | 132.18 | 16.24 | -29.07 | 95.48 | -40.02 | -45.44 | 4.07 | 106.88 | 105.29 | 13.93 | -2.38 | -16.69 |
| 21Q2 (10) | 23.27 | 1.17 | 39.42 | 9.31 | 65.07 | 856.91 | 5.84 | 40.72 | 244.91 | 5.24 | 51.88 | 267.41 | 1.00 | 38.89 | 363.16 | 0.56 | 36.59 | 1500.0 | 0.09 | 0.0 | 125.0 | 15.63 | 5.04 | -24.93 | 113.71 | 3.05 | -36.17 | 159.18 | 16.26 | 393.47 | -59.18 | -67.26 | -183.4 | 14.27 | -3.84 | 0 |
| 21Q1 (9) | 23.00 | -0.95 | -12.94 | 5.64 | -36.2 | -51.08 | 4.15 | -48.32 | -64.62 | 3.45 | -52.02 | -66.18 | 0.72 | -63.27 | -66.67 | 0.41 | -50.6 | -55.91 | 0.09 | -10.0 | 12.5 | 14.88 | -19.09 | -41.83 | 110.34 | -40.81 | -31.47 | 136.92 | 24.31 | 38.6 | -35.38 | -248.79 | -2046.15 | 14.84 | 11.5 | -15.54 |
| 20Q4 (8) | 23.22 | 11.63 | -15.32 | 8.84 | 26.11 | -27.66 | 8.03 | 102.27 | 25.08 | 7.19 | 121.23 | 22.49 | 1.96 | 188.24 | 50.77 | 0.83 | 118.42 | 36.07 | 0.10 | 42.86 | 11.11 | 18.39 | 5.69 | -5.26 | 186.42 | 0.04 | 17.27 | 110.14 | -37.06 | -42.13 | -10.14 | 86.81 | 88.77 | 13.31 | -20.39 | 0 |
| 20Q3 (7) | 20.80 | 24.63 | -26.99 | 7.01 | 669.92 | -50.07 | 3.97 | 198.51 | -70.85 | 3.25 | 203.83 | -72.83 | 0.68 | 278.95 | -76.06 | 0.38 | 1050.0 | -68.6 | 0.07 | 75.0 | -22.22 | 17.40 | -16.43 | -31.87 | 186.34 | 4.6 | 16.45 | 175.00 | 442.5 | 69.3 | -76.92 | -208.39 | -2185.71 | 16.72 | 0 | 7.66 |
| 20Q2 (6) | 16.69 | -36.83 | -38.07 | -1.23 | -110.67 | -109.18 | -4.03 | -134.36 | -126.85 | -3.13 | -130.69 | -124.57 | -0.38 | -117.59 | -113.29 | -0.04 | -104.3 | -103.15 | 0.04 | -50.0 | -55.56 | 20.82 | -18.61 | -20.69 | 178.14 | 10.63 | 10.82 | 32.26 | -67.35 | -63.91 | 70.97 | 3803.23 | 568.28 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 26.42 | -3.65 | -9.58 | 11.53 | -5.65 | -23.99 | 11.73 | 82.71 | -20.1 | 10.20 | 73.76 | -21.78 | 2.16 | 66.15 | -22.02 | 0.93 | 52.46 | -30.08 | 0.08 | -11.11 | -11.11 | 25.58 | 31.79 | -1.16 | 161.02 | 1.3 | 26.61 | 98.79 | -48.09 | -4.3 | 1.82 | 102.01 | 156.36 | 17.57 | 0 | 3.35 |
| 19Q4 (4) | 27.42 | -3.76 | 0.0 | 12.22 | -12.96 | 0.0 | 6.42 | -52.86 | 0.0 | 5.87 | -50.92 | 0.0 | 1.30 | -54.23 | 0.0 | 0.61 | -49.59 | 0.0 | 0.09 | 0.0 | 0.0 | 19.41 | -24.0 | 0.0 | 158.96 | -0.66 | 0.0 | 190.32 | 84.13 | 0.0 | -90.32 | -2583.87 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 28.49 | 5.71 | 0.0 | 14.04 | 4.78 | 0.0 | 13.62 | -9.26 | 0.0 | 11.96 | -6.12 | 0.0 | 2.84 | -0.7 | 0.0 | 1.21 | -4.72 | 0.0 | 0.09 | 0.0 | 0.0 | 25.54 | -2.7 | 0.0 | 160.02 | -0.45 | 0.0 | 103.37 | 15.65 | 0.0 | -3.37 | -131.69 | 0.0 | 15.53 | -0.58 | 0.0 |
| 19Q2 (2) | 26.95 | -7.77 | 0.0 | 13.40 | -11.67 | 0.0 | 15.01 | 2.25 | 0.0 | 12.74 | -2.3 | 0.0 | 2.86 | 3.25 | 0.0 | 1.27 | -4.51 | 0.0 | 0.09 | 0.0 | 0.0 | 26.25 | 1.43 | 0.0 | 160.74 | 26.39 | 0.0 | 89.38 | -13.41 | 0.0 | 10.62 | 429.2 | 0.0 | 15.62 | -8.12 | 0.0 |
| 19Q1 (1) | 29.22 | 0.0 | 0.0 | 15.17 | 0.0 | 0.0 | 14.68 | 0.0 | 0.0 | 13.04 | 0.0 | 0.0 | 2.77 | 0.0 | 0.0 | 1.33 | 0.0 | 0.0 | 0.09 | 0.0 | 0.0 | 25.88 | 0.0 | 0.0 | 127.18 | 0.0 | 0.0 | 103.23 | 0.0 | 0.0 | -3.23 | 0.0 | 0.0 | 17.00 | 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) | 17.29 | -25.15 | 6.30 | -14.17 | 10.77 | 23.17 | 5.49 | -47.56 | 4.92 | -42.59 | 3.64 | -48.73 | 2.10 | -36.56 | 0.29 | -12.12 | 19.17 | -8.71 | 152.52 | -1.87 | 114.60 | 63.29 | -14.60 | 0 | 0.04 | 2.68 | 15.34 | 2.88 |
| 2022 (9) | 23.10 | -8.15 | 7.34 | 8.74 | 8.75 | 1.72 | 10.47 | 73.34 | 8.57 | 68.37 | 7.10 | 57.78 | 3.31 | 58.37 | 0.33 | -2.94 | 21.00 | 30.6 | 155.43 | 9.96 | 70.18 | -37.27 | 29.95 | 0 | 0.03 | 5.2 | 14.91 | 4.78 |
| 2021 (8) | 25.15 | 11.73 | 6.75 | -11.3 | 8.60 | -28.07 | 6.04 | -2.89 | 5.09 | -7.12 | 4.50 | 2.74 | 2.09 | -0.48 | 0.34 | 17.24 | 16.08 | -21.33 | 141.35 | -24.18 | 111.88 | -8.69 | -11.88 | 0 | 0.03 | -13.04 | 14.23 | -15.7 |
| 2020 (7) | 22.51 | -19.66 | 7.61 | -44.49 | 11.96 | 17.55 | 6.22 | -50.16 | 5.48 | -49.91 | 4.38 | -54.75 | 2.10 | -52.6 | 0.29 | -19.44 | 20.44 | -15.92 | 186.42 | 17.27 | 122.53 | 11.46 | -22.53 | 0 | 0.04 | -53.26 | 16.88 | 2.68 |
| 2019 (6) | 28.02 | -11.05 | 13.71 | -26.61 | 10.17 | 51.57 | 12.48 | -37.13 | 10.94 | -36.91 | 9.68 | -47.36 | 4.43 | -48.85 | 0.36 | -25.0 | 24.31 | -11.86 | 158.96 | 25.46 | 109.93 | 16.84 | -9.93 | 0 | 0.08 | -9.21 | 16.44 | 7.17 |
| 2018 (5) | 31.50 | -6.75 | 18.68 | -11.93 | 6.71 | 13.29 | 19.85 | -3.22 | 17.34 | -3.29 | 18.39 | -17.39 | 8.66 | -12.26 | 0.48 | -9.43 | 27.58 | 1.25 | 126.70 | 10.32 | 94.08 | -9.02 | 5.92 | 0 | 0.09 | 0 | 15.34 | 9.1 |
| 2017 (4) | 33.78 | -8.65 | 21.21 | -11.62 | 5.92 | 10.46 | 20.51 | -15.25 | 17.93 | -7.72 | 22.26 | -20.04 | 9.87 | -15.86 | 0.53 | -8.62 | 27.24 | -10.92 | 114.85 | -28.79 | 103.41 | 4.31 | -3.41 | 0 | 0.00 | 0 | 14.06 | -3.37 |
| 2016 (3) | 36.98 | 1.48 | 24.00 | -1.03 | 5.36 | 2.21 | 24.20 | -3.7 | 19.43 | -5.36 | 27.84 | -8.33 | 11.73 | -15.25 | 0.58 | -10.77 | 30.58 | -2.39 | 161.29 | 22.82 | 99.14 | 2.69 | 0.86 | -75.18 | 0.00 | 0 | 14.55 | 3.71 |
| 2015 (2) | 36.44 | 19.32 | 24.25 | 34.95 | 5.25 | -18.0 | 25.13 | 23.01 | 20.53 | 22.2 | 30.37 | 31.36 | 13.84 | 28.27 | 0.65 | 6.56 | 31.33 | 11.34 | 131.32 | 6.69 | 96.54 | 9.86 | 3.46 | -71.22 | 0.00 | 0 | 14.03 | -7.45 |
| 2014 (1) | 30.54 | 0 | 17.97 | 0 | 6.40 | 6.84 | 20.43 | 0 | 16.80 | 0 | 23.12 | 0 | 10.79 | 0 | 0.61 | 5.17 | 28.14 | 24.73 | 123.08 | -5.46 | 87.88 | -2.45 | 12.01 | 21.03 | 0.00 | 0 | 15.16 | 1.88 |
