- 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) | 6.97 | -23.32 | 16.95 | -1.51 | -396.08 | 42.15 | -8.61 | -415.38 | -240.32 | -8.38 | -504.83 | -224.81 | -2.84 | -483.78 | -184.0 | -1.72 | -412.73 | -201.75 | 0.22 | 0.0 | -12.0 | -4.08 | -158.29 | -442.86 | 57.65 | 4.12 | 4.88 | 18.03 | -5.33 | -82.79 | 83.61 | 3.28 | 1855.74 | 11.70 | 1.74 | 10.9 |
| 23Q3 (19) | 9.09 | 45.67 | 211.3 | 0.51 | 114.83 | 109.14 | 2.73 | -7.46 | 70.62 | 2.07 | -30.54 | 172.37 | 0.74 | -22.92 | 164.29 | 0.55 | -20.29 | 120.0 | 0.22 | 10.0 | -8.33 | 7.00 | -12.5 | 30.84 | 55.37 | -10.85 | 5.47 | 19.05 | 116.56 | 105.5 | 80.95 | -62.35 | -81.86 | 11.50 | -10.92 | 2.86 |
| 23Q2 (18) | 6.24 | -34.73 | -32.17 | -3.44 | -663.93 | -509.52 | 2.95 | -34.44 | -20.7 | 2.98 | -21.78 | 2.76 | 0.96 | -21.95 | -30.94 | 0.69 | -20.69 | -23.33 | 0.20 | -4.76 | -31.03 | 8.00 | -10.31 | 21.77 | 62.11 | 4.53 | 4.25 | -115.00 | -991.25 | -631.88 | 215.00 | 146.85 | 174.31 | 12.91 | 1.57 | 30.14 |
| 23Q1 (17) | 9.56 | 60.4 | 4.03 | 0.61 | 123.37 | -63.69 | 4.50 | 277.87 | 18.73 | 3.81 | 247.67 | 31.83 | 1.23 | 223.0 | -9.56 | 0.87 | 252.63 | 6.1 | 0.21 | -16.0 | -19.23 | 8.92 | 649.58 | 32.74 | 59.42 | 8.1 | -19.75 | 12.90 | -87.68 | -70.97 | 87.10 | 1929.03 | 56.77 | 12.71 | 20.47 | 20.93 |
| 22Q4 (16) | 5.96 | 104.11 | -43.45 | -2.61 | 53.23 | -171.12 | -2.53 | -258.12 | -182.95 | -2.58 | -439.47 | -193.14 | -1.00 | -457.14 | -163.29 | -0.57 | -328.0 | -163.33 | 0.25 | 4.17 | -16.67 | 1.19 | -77.76 | -78.36 | 54.97 | 4.7 | -36.49 | 104.76 | 130.26 | -13.57 | -4.76 | -101.07 | 77.55 | 10.55 | -5.64 | 21.26 |
| 22Q3 (15) | 2.92 | -68.26 | -73.55 | -5.58 | -764.29 | -209.63 | 1.60 | -56.99 | -68.25 | 0.76 | -73.79 | -80.05 | 0.28 | -79.86 | -88.24 | 0.25 | -72.22 | -81.48 | 0.24 | -17.24 | -29.41 | 5.35 | -18.57 | -24.44 | 52.50 | -11.88 | -43.89 | -346.15 | -1700.96 | -446.15 | 446.15 | 469.23 | 27315.38 | 11.18 | 12.7 | 31.84 |
| 22Q2 (14) | 9.20 | 0.11 | -27.33 | 0.84 | -50.0 | -88.12 | 3.72 | -1.85 | -40.0 | 2.90 | 0.35 | -41.18 | 1.39 | 2.21 | -58.51 | 0.90 | 9.76 | -54.55 | 0.29 | 11.54 | -25.64 | 6.57 | -2.23 | -17.36 | 59.58 | -19.53 | -21.81 | 21.62 | -51.35 | -81.2 | 78.38 | 41.08 | 670.02 | 9.92 | -5.61 | 23.23 |
| 22Q1 (13) | 9.19 | -12.81 | -34.26 | 1.68 | -54.22 | -77.36 | 3.79 | 24.26 | -51.29 | 2.89 | 4.33 | -54.7 | 1.36 | -13.92 | -62.12 | 0.82 | -8.89 | -62.04 | 0.26 | -13.33 | -21.21 | 6.72 | 22.18 | -31.91 | 74.04 | -14.46 | 3.52 | 44.44 | -63.33 | -53.82 | 55.56 | 361.9 | 1011.11 | 10.51 | 20.8 | 18.62 |
| 21Q4 (12) | 10.54 | -4.53 | -13.46 | 3.67 | -27.9 | -25.41 | 3.05 | -39.48 | -14.08 | 2.77 | -27.3 | 24.22 | 1.58 | -33.61 | 39.82 | 0.90 | -33.33 | 23.29 | 0.30 | -11.76 | 0.0 | 5.50 | -22.32 | -4.68 | 86.56 | -7.49 | 25.03 | 121.21 | 21.21 | -11.85 | -21.21 | -1193.94 | 43.43 | 8.70 | 2.59 | -28.1 |
| 21Q3 (11) | 11.04 | -12.8 | -34.79 | 5.09 | -28.01 | -47.42 | 5.04 | -18.71 | -41.33 | 3.81 | -22.72 | -49.6 | 2.38 | -28.96 | -32.0 | 1.35 | -31.82 | -35.71 | 0.34 | -12.82 | 21.43 | 7.08 | -10.94 | -34.87 | 93.57 | 22.8 | 44.51 | 100.00 | -13.04 | -11.69 | -1.64 | 88.08 | 87.61 | 8.48 | 5.34 | -4.61 |
| 21Q2 (10) | 12.66 | -9.44 | -11.34 | 7.07 | -4.72 | 31.17 | 6.20 | -20.31 | -0.96 | 4.93 | -22.73 | -4.09 | 3.35 | -6.69 | 66.67 | 1.98 | -8.33 | 54.69 | 0.39 | 18.18 | 69.57 | 7.95 | -19.45 | -15.87 | 76.20 | 6.54 | 10.92 | 115.00 | 19.48 | 34.71 | -13.75 | -375.0 | -193.96 | 8.05 | -9.14 | 0 |
| 21Q1 (9) | 13.98 | 14.78 | -4.12 | 7.42 | 50.81 | 27.49 | 7.78 | 119.15 | 30.76 | 6.38 | 186.1 | 24.37 | 3.59 | 217.7 | 86.01 | 2.16 | 195.89 | 74.19 | 0.33 | 10.0 | 43.48 | 9.87 | 71.06 | 8.22 | 71.52 | 3.31 | 7.27 | 96.25 | -30.0 | -1.15 | 5.00 | 113.33 | 90.0 | 8.86 | -26.78 | 0 |
| 20Q4 (8) | 12.18 | -28.06 | -13.92 | 4.92 | -49.17 | -25.0 | 3.55 | -58.67 | -13.63 | 2.23 | -70.5 | 29.65 | 1.13 | -67.71 | 41.25 | 0.73 | -65.24 | 30.36 | 0.30 | 7.14 | 3.45 | 5.77 | -46.92 | -14.52 | 69.23 | 6.92 | 12.13 | 137.50 | 21.43 | -13.73 | -37.50 | -183.33 | 36.84 | 12.10 | 36.11 | 0 |
| 20Q3 (7) | 16.93 | 18.56 | 44.09 | 9.68 | 79.59 | 200.62 | 8.59 | 37.22 | 44.86 | 7.56 | 47.08 | 44.83 | 3.50 | 74.13 | 57.66 | 2.10 | 64.06 | 50.0 | 0.28 | 21.74 | 7.69 | 10.87 | 15.03 | 25.23 | 64.75 | -5.75 | -1.61 | 113.24 | 32.65 | 106.78 | -13.24 | -190.44 | -129.26 | 8.89 | 0 | -26.83 |
| 20Q2 (6) | 14.28 | -2.06 | 32.34 | 5.39 | -7.39 | 170.85 | 6.26 | 5.21 | 18.34 | 5.14 | 0.19 | 38.54 | 2.01 | 4.15 | 28.03 | 1.28 | 3.23 | 26.73 | 0.23 | 0.0 | -11.54 | 9.45 | 3.62 | 18.72 | 68.70 | 3.04 | 2.68 | 85.37 | -12.33 | 121.95 | 14.63 | 456.1 | -76.22 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 14.58 | 3.04 | 34.63 | 5.82 | -11.28 | 809.38 | 5.95 | 44.77 | 157.58 | 5.13 | 198.26 | 216.67 | 1.93 | 141.25 | 221.67 | 1.24 | 121.43 | 175.56 | 0.23 | -20.69 | 4.55 | 9.12 | 35.11 | 69.52 | 66.67 | 7.99 | 9.1 | 97.37 | -38.91 | 265.13 | 2.63 | 104.43 | -96.41 | 0.00 | 0 | -100.0 |
| 19Q4 (4) | 14.15 | 20.43 | 0.0 | 6.56 | 103.73 | 0.0 | 4.11 | -30.69 | 0.0 | 1.72 | -67.05 | 0.0 | 0.80 | -63.96 | 0.0 | 0.56 | -60.0 | 0.0 | 0.29 | 11.54 | 0.0 | 6.75 | -22.24 | 0.0 | 61.74 | -6.18 | 0.0 | 159.38 | 191.03 | 0.0 | -59.38 | -231.25 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 11.75 | 8.9 | 0.0 | 3.22 | 61.81 | 0.0 | 5.93 | 12.1 | 0.0 | 5.22 | 40.7 | 0.0 | 2.22 | 41.4 | 0.0 | 1.40 | 38.61 | 0.0 | 0.26 | 0.0 | 0.0 | 8.68 | 9.05 | 0.0 | 65.81 | -1.64 | 0.0 | 54.76 | 42.38 | 0.0 | 45.24 | -26.49 | 0.0 | 12.15 | -0.16 | 0.0 |
| 19Q2 (2) | 10.79 | -0.37 | 0.0 | 1.99 | 210.94 | 0.0 | 5.29 | 129.0 | 0.0 | 3.71 | 129.01 | 0.0 | 1.57 | 161.67 | 0.0 | 1.01 | 124.44 | 0.0 | 0.26 | 18.18 | 0.0 | 7.96 | 47.96 | 0.0 | 66.91 | 9.49 | 0.0 | 38.46 | 44.23 | 0.0 | 61.54 | -16.08 | 0.0 | 12.17 | -13.26 | 0.0 |
| 19Q1 (1) | 10.83 | 0.0 | 0.0 | 0.64 | 0.0 | 0.0 | 2.31 | 0.0 | 0.0 | 1.62 | 0.0 | 0.0 | 0.60 | 0.0 | 0.0 | 0.45 | 0.0 | 0.0 | 0.22 | 0.0 | 0.0 | 5.38 | 0.0 | 0.0 | 61.11 | 0.0 | 0.0 | 26.67 | 0.0 | 0.0 | 73.33 | 0.0 | 0.0 | 14.03 | 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) | 7.99 | 13.66 | -0.92 | 0 | 4.03 | 38.85 | 0.36 | -80.0 | 0.08 | -92.98 | 0.10 | -95.0 | 0.44 | -69.86 | 0.87 | -16.35 | 4.95 | -2.56 | 57.65 | 4.88 | -260.00 | 0 | 360.00 | 118.69 | 0.06 | 1.92 | 12.18 | 15.89 |
| 2022 (9) | 7.03 | -41.56 | -1.19 | 0 | 2.90 | 57.85 | 1.80 | -67.33 | 1.14 | -74.44 | 2.00 | -81.85 | 1.46 | -77.29 | 1.04 | -25.18 | 5.08 | -32.72 | 54.97 | -36.49 | -66.15 | 0 | 164.62 | 0 | 0.06 | 0 | 10.51 | 23.65 |
| 2021 (8) | 12.03 | -16.52 | 5.83 | -10.03 | 1.84 | -24.79 | 5.51 | -8.01 | 4.46 | -8.98 | 11.02 | 31.03 | 6.43 | 21.78 | 1.39 | 33.65 | 7.55 | -13.02 | 86.56 | 25.03 | 105.49 | -2.16 | -5.88 | 0 | 0.00 | 0 | 8.50 | -24.31 |
| 2020 (7) | 14.41 | 20.69 | 6.48 | 101.87 | 2.45 | -1.16 | 5.99 | 34.61 | 4.90 | 60.13 | 8.41 | 63.3 | 5.28 | 59.04 | 1.04 | 4.0 | 8.68 | 19.72 | 69.23 | 12.13 | 107.82 | 49.56 | -7.82 | 0 | 0.00 | 0 | 11.23 | -7.65 |
| 2019 (6) | 11.94 | -9.95 | 3.21 | -40.67 | 2.48 | 37.61 | 4.45 | -38.79 | 3.06 | -48.91 | 5.15 | -59.19 | 3.32 | -52.5 | 1.00 | -9.09 | 7.25 | -23.84 | 61.74 | -18.63 | 72.09 | -3.26 | 27.91 | 9.55 | 0.00 | 0 | 12.16 | 13.64 |
| 2018 (5) | 13.26 | -9.12 | 5.41 | -21.71 | 1.80 | 0.42 | 7.27 | 51.14 | 5.99 | 73.12 | 12.62 | 76.5 | 6.99 | 76.96 | 1.10 | 6.8 | 9.52 | 35.23 | 75.88 | -29.81 | 74.52 | -48.28 | 25.48 | 0 | 0.00 | 0 | 10.70 | 6.47 |
| 2017 (4) | 14.59 | 7.12 | 6.91 | 47.02 | 1.79 | -10.78 | 4.81 | 13.44 | 3.46 | 7.45 | 7.15 | 32.41 | 3.95 | 22.29 | 1.03 | 18.39 | 7.04 | 2.92 | 108.11 | 16.02 | 144.10 | 30.38 | -43.48 | 0 | 0.00 | 0 | 10.05 | -13.14 |
| 2016 (3) | 13.62 | 50.33 | 4.70 | 422.22 | 2.01 | 0.3 | 4.24 | 102.87 | 3.22 | 65.98 | 5.40 | 57.43 | 3.23 | 41.05 | 0.87 | -4.4 | 6.84 | 42.5 | 93.18 | 0.14 | 110.53 | 155.06 | -10.53 | 0 | 0.00 | 0 | 11.57 | 12.22 |
| 2015 (2) | 9.06 | 7.86 | 0.90 | -52.63 | 2.00 | 18.44 | 2.09 | -0.48 | 1.94 | 43.7 | 3.43 | 13.95 | 2.29 | 9.57 | 0.91 | -18.02 | 4.80 | 7.62 | 93.05 | -4.59 | 43.33 | -52.27 | 56.67 | 515.24 | 0.00 | 0 | 10.31 | 22.01 |
| 2014 (1) | 8.40 | 0 | 1.90 | 0 | 1.69 | 19.41 | 2.10 | 0 | 1.35 | 0 | 3.01 | 0 | 2.09 | 0 | 1.11 | -2.63 | 4.46 | 54.86 | 97.53 | -7.38 | 90.79 | -9.21 | 9.21 | 0 | 0.00 | 0 | 8.45 | 12.22 |
