- 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) | 7.42 | -4.75 | 12.25 | 5.38 | -6.92 | 14.71 | 10.66 | 59.82 | 30.16 | 10.83 | 125.63 | 39.56 | 3.25 | 133.81 | 37.71 | 2.15 | 128.72 | 46.26 | 0.19 | 5.56 | 5.56 | 13.24 | 40.11 | 21.8 | 53.15 | -11.87 | -21.03 | 50.36 | -41.72 | -12.08 | 49.27 | 262.81 | 15.35 | 6.02 | 5.99 | 10.87 |
| 23Q3 (19) | 7.79 | 64.35 | 3809.52 | 5.78 | 114.87 | 386.14 | 6.67 | -27.66 | 18.89 | 4.80 | -42.58 | 10.85 | 1.39 | -38.22 | -9.74 | 0.94 | -36.49 | -1.05 | 0.18 | 5.88 | -10.0 | 9.45 | -22.86 | 20.23 | 60.31 | -3.69 | -16.1 | 86.42 | 194.68 | 340.74 | 13.58 | -80.91 | -90.05 | 5.68 | -0.87 | 18.09 |
| 23Q2 (18) | 4.74 | -43.44 | -10.4 | 2.69 | -58.74 | -24.44 | 9.22 | -40.09 | 327.09 | 8.36 | -41.7 | 265.87 | 2.25 | -48.16 | 235.54 | 1.48 | -45.79 | 252.58 | 0.17 | -5.56 | -15.0 | 12.25 | -32.13 | 725.0 | 62.62 | 1.31 | -17.03 | 29.33 | -30.73 | 133.52 | 71.15 | 23.4 | -62.05 | 5.73 | 5.72 | 15.06 |
| 23Q1 (17) | 8.38 | 26.78 | 1.7 | 6.52 | 39.02 | -1.95 | 15.39 | 87.91 | 1086.54 | 14.34 | 84.79 | 594.48 | 4.34 | 83.9 | 582.22 | 2.73 | 85.71 | 587.5 | 0.18 | 0.0 | -10.0 | 18.05 | 66.05 | 3740.43 | 61.81 | -8.16 | 16.58 | 42.34 | -26.09 | 109.84 | 57.66 | 35.0 | -89.13 | 5.42 | -0.18 | 15.57 |
| 22Q4 (16) | 6.61 | 3247.62 | -18.7 | 4.69 | 332.18 | -26.37 | 8.19 | 45.99 | -32.92 | 7.76 | 79.21 | -31.93 | 2.36 | 53.25 | -36.9 | 1.47 | 54.74 | -41.43 | 0.18 | -10.0 | -18.18 | 10.87 | 38.3 | -23.45 | 67.30 | -6.37 | 30.02 | 57.29 | 259.58 | 9.62 | 42.71 | -68.72 | -11.06 | 5.43 | 12.89 | -6.86 |
| 22Q3 (15) | -0.21 | -103.97 | -102.39 | -2.02 | -156.74 | -129.06 | 5.61 | 238.18 | -39.02 | 4.33 | 185.91 | -47.96 | 1.54 | 192.77 | -39.37 | 0.95 | 197.94 | -46.02 | 0.20 | 0.0 | -4.76 | 7.86 | 501.02 | -29.32 | 71.88 | -4.76 | 43.22 | -35.90 | 58.97 | -147.55 | 136.54 | -27.18 | 457.35 | 4.81 | -3.41 | -13.95 |
| 22Q2 (14) | 5.29 | -35.8 | -49.13 | 3.56 | -46.47 | -58.6 | -4.06 | -160.26 | -156.0 | -5.04 | -73.79 | -185.57 | -1.66 | -84.44 | -195.95 | -0.97 | -73.21 | -178.23 | 0.20 | 0.0 | -4.76 | -1.96 | -517.02 | -121.26 | 75.47 | 42.34 | 80.38 | -87.50 | 79.66 | -173.56 | 187.50 | -64.64 | 1089.58 | 4.98 | 6.18 | -6.57 |
| 22Q1 (13) | 8.24 | 1.35 | -23.92 | 6.65 | 4.4 | -19.69 | -1.56 | -112.78 | -103.31 | -2.90 | -125.44 | -106.93 | -0.90 | -124.06 | -108.04 | -0.56 | -122.31 | -107.4 | 0.20 | -9.09 | 11.11 | 0.47 | -96.69 | -99.05 | 53.02 | 2.43 | 25.73 | -430.23 | -923.26 | -2554.18 | 530.23 | 1004.13 | 543.68 | 4.69 | -19.55 | -36.1 |
| 21Q4 (12) | 8.13 | -7.51 | 11.52 | 6.37 | -8.35 | 34.67 | 12.21 | 32.72 | -53.33 | 11.40 | 37.02 | -55.33 | 3.74 | 47.24 | -42.73 | 2.51 | 42.61 | -39.95 | 0.22 | 4.76 | 37.5 | 14.20 | 27.7 | -50.23 | 51.76 | 3.13 | -7.22 | 52.26 | -30.78 | 188.83 | 48.02 | 96.03 | -41.37 | 5.83 | 4.29 | -20.46 |
| 21Q3 (11) | 8.79 | -15.48 | 4.15 | 6.95 | -19.19 | 9.11 | 9.20 | 26.9 | -42.28 | 8.32 | 41.26 | -43.52 | 2.54 | 46.82 | -37.44 | 1.76 | 41.94 | -30.71 | 0.21 | 0.0 | 23.53 | 11.12 | 20.61 | -39.43 | 50.19 | 19.96 | -14.48 | 75.50 | -36.52 | 89.05 | 24.50 | 229.29 | -59.21 | 5.59 | 4.88 | -3.62 |
| 21Q2 (10) | 10.40 | -3.97 | 59.75 | 8.60 | 3.86 | 102.35 | 7.25 | -84.62 | -83.48 | 5.89 | -85.92 | -86.26 | 1.73 | -84.55 | -84.29 | 1.24 | -83.62 | -81.41 | 0.21 | 16.67 | 40.0 | 9.22 | -81.31 | -80.22 | 41.84 | -0.78 | -37.51 | 118.95 | 578.51 | 1133.88 | -18.95 | -123.0 | -121.0 | 5.33 | -27.38 | 0 |
| 21Q1 (9) | 10.83 | 48.56 | 332.9 | 8.28 | 75.05 | 214.84 | 47.15 | 80.24 | 168.25 | 41.83 | 63.91 | 160.51 | 11.20 | 71.52 | 169.35 | 7.57 | 81.1 | 175.32 | 0.18 | 12.5 | 20.0 | 49.33 | 72.91 | 174.36 | 42.17 | -24.41 | -35.37 | 17.53 | -3.11 | 68.47 | 82.38 | 0.57 | -8.06 | 7.34 | 0.14 | 0 |
| 20Q4 (8) | 7.29 | -13.63 | 275.77 | 4.73 | -25.75 | 1312.82 | 26.16 | 64.12 | 7.83 | 25.52 | 73.25 | -9.12 | 6.53 | 60.84 | -7.51 | 4.18 | 64.57 | -8.73 | 0.16 | -5.88 | 0.0 | 28.53 | 55.39 | 7.3 | 55.79 | -4.94 | 0.45 | 18.09 | -54.7 | 1153.94 | 81.91 | 36.37 | -19.48 | 7.33 | 26.38 | 11.57 |
| 20Q3 (7) | 8.44 | 29.65 | 1378.79 | 6.37 | 49.88 | 330.8 | 15.94 | -63.67 | 1385.48 | 14.73 | -65.63 | 1327.5 | 4.06 | -63.12 | 1294.12 | 2.54 | -61.92 | 1594.12 | 0.17 | 13.33 | -5.56 | 18.36 | -60.61 | 1736.0 | 58.69 | -12.35 | 7.95 | 39.94 | 314.28 | -82.1 | 60.06 | -33.43 | 148.8 | 5.80 | 0 | 2.11 |
| 20Q2 (6) | 6.51 | 240.0 | 1659.46 | 4.25 | 158.95 | 320.21 | 43.88 | 163.52 | 1075.11 | 42.86 | 162.0 | 1078.54 | 11.01 | 168.17 | 1065.79 | 6.67 | 166.37 | 1066.67 | 0.15 | 0.0 | -11.76 | 46.61 | 170.26 | 2319.52 | 66.96 | 2.62 | 11.01 | 9.64 | -7.36 | -77.68 | 90.23 | 0.71 | 58.81 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | -4.65 | -339.69 | -228.45 | -7.21 | -1748.72 | -607.75 | -69.08 | -384.75 | -513.65 | -69.13 | -346.19 | -524.63 | -16.15 | -328.75 | -494.87 | -10.05 | -319.43 | -475.0 | 0.15 | -6.25 | -6.25 | -66.34 | -349.49 | -445.34 | 65.25 | 17.48 | 22.42 | 10.41 | 706.15 | 24.47 | 89.59 | -11.92 | -2.23 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 1.94 | 393.94 | 0.0 | -0.39 | 85.87 | 0.0 | 24.26 | 2056.45 | 0.0 | 28.08 | 2440.0 | 0.0 | 7.06 | 2176.47 | 0.0 | 4.58 | 2794.12 | 0.0 | 0.16 | -11.11 | 0.0 | 26.59 | 2559.0 | 0.0 | 55.54 | 2.15 | 0.0 | -1.72 | -100.77 | 0.0 | 101.72 | 182.64 | 0.0 | 6.57 | 15.67 | 0.0 |
| 19Q3 (3) | -0.66 | -278.38 | 0.0 | -2.76 | -43.01 | 0.0 | -1.24 | 72.44 | 0.0 | -1.20 | 72.6 | 0.0 | -0.34 | 70.18 | 0.0 | -0.17 | 75.36 | 0.0 | 0.18 | 5.88 | 0.0 | 1.00 | 147.62 | 0.0 | 54.37 | -9.86 | 0.0 | 223.08 | 416.6 | 0.0 | -123.08 | -316.62 | 0.0 | 5.68 | -10.55 | 0.0 |
| 19Q2 (2) | 0.37 | -89.78 | 0.0 | -1.93 | -235.92 | 0.0 | -4.50 | -126.95 | 0.0 | -4.38 | -126.9 | 0.0 | -1.14 | -127.87 | 0.0 | -0.69 | -125.75 | 0.0 | 0.17 | 6.25 | 0.0 | -2.10 | -110.93 | 0.0 | 60.32 | 13.17 | 0.0 | 43.18 | 416.52 | 0.0 | 56.82 | -38.0 | 0.0 | 6.35 | 3.08 | 0.0 |
| 19Q1 (1) | 3.62 | 0.0 | 0.0 | 1.42 | 0.0 | 0.0 | 16.70 | 0.0 | 0.0 | 16.28 | 0.0 | 0.0 | 4.09 | 0.0 | 0.0 | 2.68 | 0.0 | 0.0 | 0.16 | 0.0 | 0.0 | 19.21 | 0.0 | 0.0 | 53.30 | 0.0 | 0.0 | 8.36 | 0.0 | 0.0 | 91.64 | 0.0 | 0.0 | 6.16 | 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) | 7.14 | 45.12 | 5.15 | 62.46 | 2.15 | 11.26 | 10.55 | 467.2 | 9.66 | 1063.86 | 11.24 | 970.48 | 7.37 | 747.13 | 0.73 | -7.59 | 13.30 | 222.82 | 53.15 | -21.03 | 48.79 | -71.39 | 51.21 | 0 | 0.00 | 0 | 5.71 | 15.12 |
| 2022 (9) | 4.92 | -47.94 | 3.17 | -57.68 | 1.93 | 5.66 | 1.86 | -89.49 | 0.83 | -94.73 | 1.05 | -94.62 | 0.87 | -93.21 | 0.79 | -2.47 | 4.12 | -79.08 | 67.30 | 30.02 | 170.50 | 302.68 | -70.50 | 0 | 0.01 | 0 | 4.96 | -16.92 |
| 2021 (8) | 9.45 | 102.36 | 7.49 | 224.24 | 1.83 | -18.42 | 17.69 | 208.19 | 15.76 | 215.2 | 19.52 | 315.32 | 12.82 | 305.7 | 0.81 | 35.0 | 19.69 | 137.52 | 51.76 | -7.22 | 42.34 | 5.11 | 57.66 | -3.45 | 0.00 | 0 | 5.97 | -10.63 |
| 2020 (7) | 4.67 | 273.6 | 2.31 | 0 | 2.24 | 8.53 | 5.74 | -32.31 | 5.00 | -46.52 | 4.70 | -51.24 | 3.16 | -50.0 | 0.60 | -9.09 | 8.29 | -23.45 | 55.79 | 0.45 | 40.28 | 0 | 59.72 | -46.41 | 0.00 | 0 | 6.68 | 8.09 |
| 2019 (6) | 1.25 | -67.28 | -0.98 | 0 | 2.07 | 19.62 | 8.48 | 0 | 9.35 | 0 | 9.64 | 0 | 6.32 | 0 | 0.66 | -7.04 | 10.83 | 0 | 55.54 | -2.08 | -11.60 | 0 | 111.45 | -13.44 | 0.00 | 0 | 6.18 | 13.6 |
| 2018 (5) | 3.82 | -42.21 | 1.83 | -57.93 | 1.73 | -12.51 | -6.38 | 0 | -6.55 | 0 | -7.16 | 0 | -4.52 | 0 | 0.71 | 5.97 | -4.46 | 0 | 56.72 | 6.3 | -28.75 | 0 | 128.75 | 174.01 | 0.00 | 0 | 5.44 | -11.54 |
| 2017 (4) | 6.61 | 174.27 | 4.35 | 0 | 1.98 | -27.09 | 8.21 | 832.95 | 7.42 | 0 | 7.58 | 0 | 5.09 | 8383.33 | 0.67 | 13.56 | 10.40 | 165.98 | 53.36 | 3.29 | 53.01 | 0 | 46.99 | -57.1 | 0.00 | 0 | 6.15 | -5.82 |
| 2016 (3) | 2.41 | 0 | -0.10 | 0 | 2.71 | 6.86 | 0.88 | 0 | -0.16 | 0 | -0.14 | 0 | 0.06 | 0 | 0.59 | -11.94 | 3.91 | 0 | 51.66 | -4.98 | -11.11 | 0 | 109.52 | 253.1 | 0.00 | 0 | 6.53 | 26.31 |
| 2015 (2) | -1.15 | 0 | -3.21 | 0 | 2.54 | -1.36 | -4.65 | 0 | -4.17 | 0 | -4.25 | 0 | -2.59 | 0 | 0.67 | -9.46 | -1.78 | 0 | 54.37 | 5.02 | 68.98 | 0 | 31.02 | -87.25 | 0.00 | 0 | 5.17 | 15.14 |
| 2014 (1) | 0.60 | 0 | -1.39 | 0 | 2.57 | 7.16 | 0.98 | 0 | 0.81 | 0 | 0.86 | 0 | 0.78 | 0 | 0.74 | -12.94 | 3.84 | -43.03 | 51.77 | 42.81 | -142.27 | 0 | 243.30 | 57.69 | 0.00 | 0 | 4.49 | -4.06 |
