- 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) | 25.84 | 43.08 | 55.2 | -3.42 | 56.32 | 68.6 | -2.13 | 72.55 | 84.83 | -0.51 | 92.85 | 95.08 | -0.24 | 92.62 | 94.64 | 0.00 | 100.0 | 100.0 | 0.18 | 12.5 | 12.5 | 4.10 | 371.52 | 157.42 | 163.01 | -6.52 | -6.58 | 159.38 | 57.98 | 105.35 | -59.38 | -6609.38 | -365.21 | 20.99 | 38.09 | 11.35 |
| 23Q3 (19) | 18.06 | -23.83 | 40.33 | -7.83 | -266.6 | -53.53 | -7.76 | -227.84 | -427.89 | -7.13 | -251.7 | -452.71 | -3.25 | -161.21 | -345.21 | -1.08 | -156.54 | -535.29 | 0.16 | -57.89 | -20.0 | -1.51 | -116.89 | -136.74 | 174.38 | -15.52 | 3.61 | 100.88 | 29.96 | -70.45 | -0.88 | -103.88 | 99.64 | 15.20 | 70.79 | 10.55 |
| 23Q2 (18) | 23.71 | 35.33 | 32.02 | 4.70 | 610.87 | -6.0 | 6.07 | 422.87 | -1.46 | 4.70 | 374.85 | -12.64 | 5.31 | 641.84 | -14.77 | 1.91 | 834.62 | -10.75 | 0.38 | 80.95 | 0.0 | 8.94 | 122.94 | -1.87 | 206.42 | 12.3 | 2.59 | 77.63 | 59.82 | -4.55 | 22.83 | -55.61 | 19.61 | 8.90 | -40.86 | -18.35 |
| 23Q1 (17) | 17.52 | 5.23 | 34.36 | -0.92 | 91.55 | 90.35 | -1.88 | 86.61 | -106.89 | -1.71 | 83.51 | -107.57 | -0.98 | 78.12 | -106.85 | -0.26 | 84.52 | -105.91 | 0.21 | 31.25 | 10.53 | 4.01 | 156.16 | -87.97 | 183.81 | 5.34 | -11.1 | 48.57 | -37.42 | 238.85 | 51.43 | 129.71 | -61.9 | 15.05 | -20.16 | -7.84 |
| 22Q4 (16) | 16.65 | 29.37 | 237.73 | -10.89 | -113.53 | -19.41 | -14.04 | -855.1 | -69.98 | -10.37 | -703.88 | -104.94 | -4.48 | -513.7 | -44.52 | -1.68 | -888.24 | -110.0 | 0.16 | -20.0 | -5.88 | -7.14 | -273.72 | -320.0 | 174.50 | 3.68 | -33.12 | 77.61 | -77.27 | -29.9 | 22.39 | 109.14 | 308.96 | 18.85 | 37.09 | 3.23 |
| 22Q3 (15) | 12.87 | -28.34 | 35.62 | -5.10 | -202.0 | 37.35 | -1.47 | -123.86 | 80.88 | -1.29 | -123.98 | 82.08 | -0.73 | -111.72 | 85.52 | -0.17 | -107.94 | 87.12 | 0.20 | -47.37 | 5.26 | 4.11 | -54.88 | 278.7 | 168.31 | -16.35 | -36.65 | 341.38 | 319.76 | 222.87 | -244.83 | -1382.68 | -4170.88 | 13.75 | 26.15 | -11.4 |
| 22Q2 (14) | 17.96 | 37.73 | 36.37 | 5.00 | 152.47 | 12600.0 | 6.16 | -77.43 | 2900.0 | 5.38 | -76.17 | 648.98 | 6.23 | -56.43 | 606.5 | 2.14 | -51.36 | 837.93 | 0.38 | 100.0 | 5.56 | 9.11 | -72.67 | 242.48 | 201.20 | -2.68 | -25.77 | 81.33 | 332.49 | 225.31 | 19.09 | -85.86 | -78.19 | 10.90 | -33.25 | -2.24 |
| 22Q1 (13) | 13.04 | 164.5 | 0.54 | -9.53 | -4.5 | -470.66 | 27.29 | 430.39 | 1591.26 | 22.58 | 546.25 | 1679.02 | 14.30 | 561.29 | 1322.22 | 4.40 | 650.0 | 1519.35 | 0.19 | 11.76 | -29.63 | 33.33 | 2060.59 | 1201.95 | 206.75 | -20.76 | -6.69 | -34.98 | -131.6 | -139.15 | 134.98 | 1359.82 | 1486.03 | 16.33 | -10.57 | 4.28 |
| 21Q4 (12) | 4.93 | -48.05 | -65.38 | -9.12 | -12.04 | -1620.0 | -8.26 | -7.41 | -1119.75 | -5.06 | 29.72 | -5722.22 | -3.10 | 38.49 | -5266.67 | -0.80 | 39.39 | -988.89 | 0.17 | -10.53 | -15.0 | -1.70 | 26.09 | -129.06 | 260.90 | -1.81 | 33.94 | 110.71 | 4.71 | 50.97 | -10.71 | -86.9 | -140.18 | 18.26 | 17.65 | 10.07 |
| 21Q3 (11) | 9.49 | -27.94 | -24.92 | -8.14 | -20250.0 | -111.43 | -7.69 | -3395.45 | -65.38 | -7.20 | -634.69 | -96.19 | -5.04 | -309.76 | -134.42 | -1.32 | -355.17 | -131.58 | 0.19 | -47.22 | 5.56 | -2.30 | -186.47 | -550.98 | 265.70 | -1.97 | 25.8 | 105.73 | 322.93 | 27.5 | -5.73 | -106.55 | -133.58 | 15.52 | 39.19 | -6.95 |
| 21Q2 (10) | 13.17 | 1.54 | -39.86 | -0.04 | 97.6 | -100.43 | -0.22 | 87.98 | -102.35 | -0.98 | 31.47 | -113.37 | -1.23 | -5.13 | -113.21 | -0.29 | 6.45 | -110.0 | 0.36 | 33.33 | -5.26 | 2.66 | 3.91 | -77.85 | 271.05 | 22.33 | 9.71 | 25.00 | -72.02 | -75.14 | 87.50 | 928.12 | 30725.0 | 11.15 | -28.8 | -8.91 |
| 21Q1 (9) | 12.97 | -8.92 | -7.69 | -1.67 | -378.33 | 59.27 | -1.83 | -325.93 | 44.55 | -1.43 | -1688.89 | 52.96 | -1.17 | -2050.0 | 37.43 | -0.31 | -444.44 | 36.73 | 0.27 | 35.0 | 35.0 | 2.56 | -56.24 | 5.35 | 221.57 | 13.75 | 2.05 | 89.36 | 21.86 | -27.54 | 8.51 | -68.09 | 136.47 | 15.66 | -5.61 | -14.98 |
| 20Q4 (8) | 14.24 | 12.66 | -29.26 | 0.60 | 115.58 | 134.29 | 0.81 | 117.42 | 126.47 | 0.09 | 102.45 | 103.72 | 0.06 | 102.79 | 103.66 | 0.09 | 115.79 | 121.95 | 0.20 | 11.11 | -13.04 | 5.85 | 1047.06 | 110.43 | 194.79 | -7.77 | -0.52 | 73.33 | -11.57 | 27.25 | 26.67 | 56.19 | -37.07 | 16.59 | -0.54 | 9.58 |
| 20Q3 (7) | 12.64 | -42.28 | -33.79 | -3.85 | -140.96 | -1504.17 | -4.65 | -149.68 | -388.82 | -3.67 | -150.07 | -1246.87 | -2.15 | -123.09 | -1123.81 | -0.57 | -119.66 | -385.0 | 0.18 | -52.63 | -18.18 | 0.51 | -95.75 | -93.69 | 211.21 | -14.51 | 8.41 | 82.93 | -17.54 | 721.95 | 17.07 | 6075.61 | -84.94 | 16.68 | 36.27 | -14.59 |
| 20Q2 (6) | 21.90 | 55.87 | 4.53 | 9.40 | 329.27 | 27.54 | 9.36 | 383.64 | 19.54 | 7.33 | 341.12 | 12.25 | 9.31 | 597.86 | -0.85 | 2.90 | 691.84 | -6.45 | 0.38 | 90.0 | -11.63 | 12.01 | 394.24 | 4.62 | 247.07 | 13.79 | 6.03 | 100.57 | -18.46 | 6.86 | -0.29 | 98.78 | -104.86 | 12.24 | -33.55 | -17.69 |
| 20Q1 (5) | 14.05 | -30.2 | -16.91 | -4.10 | -134.29 | -346.99 | -3.30 | -7.84 | -273.68 | -3.04 | -25.62 | -271.75 | -1.87 | -14.02 | -211.31 | -0.49 | -19.51 | -163.64 | 0.20 | -13.04 | -28.57 | 2.43 | -12.59 | -69.04 | 217.12 | 10.89 | -5.51 | 123.33 | 114.02 | 41.83 | -23.33 | -155.07 | -278.89 | 18.42 | 21.66 | -7.16 |
| 19Q4 (4) | 20.13 | 5.45 | 0.0 | -1.75 | -629.17 | 0.0 | -3.06 | -290.06 | 0.0 | -2.42 | -856.25 | 0.0 | -1.64 | -880.95 | 0.0 | -0.41 | -305.0 | 0.0 | 0.23 | 4.55 | 0.0 | 2.78 | -65.59 | 0.0 | 195.80 | 0.5 | 0.0 | 57.63 | 532.2 | 0.0 | 42.37 | -62.61 | 0.0 | 15.14 | -22.48 | 0.0 |
| 19Q3 (3) | 19.09 | -8.88 | 0.0 | -0.24 | -103.26 | 0.0 | 1.61 | -79.44 | 0.0 | 0.32 | -95.1 | 0.0 | 0.21 | -97.76 | 0.0 | 0.20 | -93.55 | 0.0 | 0.22 | -48.84 | 0.0 | 8.08 | -29.62 | 0.0 | 194.83 | -16.39 | 0.0 | -13.33 | -114.17 | 0.0 | 113.33 | 1826.67 | 0.0 | 19.53 | 31.34 | 0.0 |
| 19Q2 (2) | 20.95 | 23.89 | 0.0 | 7.37 | 343.98 | 0.0 | 7.83 | 312.11 | 0.0 | 6.53 | 268.93 | 0.0 | 9.39 | 458.93 | 0.0 | 3.10 | 302.6 | 0.0 | 0.43 | 53.57 | 0.0 | 11.48 | 46.24 | 0.0 | 233.01 | 1.4 | 0.0 | 94.12 | 8.24 | 0.0 | 5.88 | -54.9 | 0.0 | 14.87 | -25.05 | 0.0 |
| 19Q1 (1) | 16.91 | 0.0 | 0.0 | 1.66 | 0.0 | 0.0 | 1.90 | 0.0 | 0.0 | 1.77 | 0.0 | 0.0 | 1.68 | 0.0 | 0.0 | 0.77 | 0.0 | 0.0 | 0.28 | 0.0 | 0.0 | 7.85 | 0.0 | 0.0 | 229.79 | 0.0 | 0.0 | 86.96 | 0.0 | 0.0 | 13.04 | 0.0 | 0.0 | 19.84 | 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) | 21.75 | 38.98 | -0.15 | 0 | 4.27 | -3.2 | 0.47 | -91.95 | 0.32 | -93.76 | 0.84 | -94.7 | 0.65 | -87.74 | 0.99 | 1.02 | 5.19 | -51.08 | 163.01 | -6.58 | -30.00 | 0 | 130.00 | -10.4 | 0.07 | 63.14 | 13.48 | -2.81 |
| 2022 (9) | 15.65 | 42.27 | -2.64 | 0 | 4.41 | 9.08 | 5.84 | 0 | 5.13 | 0 | 15.85 | 0 | 5.30 | 0 | 0.98 | -7.55 | 10.61 | 1065.93 | 174.50 | -33.12 | -45.08 | 0 | 145.08 | 0 | 0.05 | -24.83 | 13.87 | -3.34 |
| 2021 (8) | 11.00 | -35.33 | -3.60 | 0 | 4.05 | 9.25 | -3.47 | 0 | -3.02 | 0 | -10.42 | 0 | -2.96 | 0 | 1.06 | 4.95 | 0.91 | -86.34 | 260.90 | 33.94 | 103.68 | 5.09 | -3.68 | 0 | 0.06 | -30.25 | 14.35 | -5.59 |
| 2020 (7) | 17.01 | -12.72 | 2.40 | -16.08 | 3.70 | -11.4 | 2.43 | -23.58 | 1.70 | -33.07 | 5.08 | -45.84 | 2.10 | -42.93 | 1.01 | -13.68 | 6.66 | -18.78 | 194.79 | -0.52 | 98.66 | 9.89 | 1.34 | -86.89 | 0.09 | -35.87 | 15.20 | -10.43 |
| 2019 (6) | 19.49 | 14.31 | 2.86 | 346.87 | 4.18 | -2.9 | 3.18 | 367.65 | 2.54 | 0 | 9.38 | 0 | 3.68 | 327.91 | 1.17 | -10.69 | 8.20 | 33.55 | 195.80 | -17.83 | 89.78 | -4.94 | 10.22 | 83.9 | 0.13 | -43.61 | 16.97 | -14.12 |
| 2018 (5) | 17.05 | -1.73 | 0.64 | 0 | 4.31 | -3.02 | 0.68 | 871.43 | -0.17 | 0 | -0.71 | 0 | 0.86 | 7.5 | 1.31 | 1.55 | 6.14 | 13.7 | 238.30 | 18.2 | 94.44 | 0 | 5.56 | -99.27 | 0.24 | 0 | 19.76 | -1.54 |
| 2017 (4) | 17.35 | -16.39 | -0.46 | 0 | 4.44 | 6.47 | 0.07 | -97.84 | 0.01 | -99.6 | 0.05 | -99.5 | 0.80 | -80.58 | 1.29 | -7.19 | 5.40 | -33.5 | 201.61 | 9.36 | -657.14 | 0 | 757.14 | 16793.75 | 0.00 | 0 | 20.07 | 5.63 |
| 2016 (3) | 20.75 | 9.61 | 3.09 | 0 | 4.17 | -11.37 | 3.24 | 0 | 2.51 | 0 | 10.07 | 0 | 4.12 | 0 | 1.39 | 12.1 | 8.12 | 76.91 | 184.35 | -5.14 | 95.52 | 84.97 | 4.48 | -90.73 | 0.00 | 0 | 19.00 | 3.32 |
| 2015 (2) | 18.93 | 4.41 | -0.57 | 0 | 4.70 | 35.42 | -1.12 | 0 | -0.86 | 0 | -3.27 | 0 | -0.23 | 0 | 1.24 | -10.79 | 4.59 | 203.97 | 194.33 | -11.35 | 51.64 | -21.58 | 48.36 | 41.63 | 0.00 | 0 | 18.39 | 5.09 |
| 2014 (1) | 18.13 | 0 | -1.79 | 0 | 3.47 | 23.92 | -2.71 | 0 | -2.74 | 0 | -10.51 | 0 | -3.12 | 0 | 1.39 | -20.57 | 1.51 | -82.92 | 219.20 | 56.78 | 65.85 | 8.7 | 34.15 | -13.38 | 0.00 | 0 | 17.50 | 11.82 |
