- 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) | 11.45 | -4.9 | 41.71 | 7.04 | -6.75 | 88.74 | 6.47 | -26.39 | 57.04 | 5.29 | -25.39 | 72.88 | 1.84 | -18.58 | 145.33 | 1.69 | -17.16 | 141.43 | 0.32 | 10.34 | 45.45 | 8.22 | -25.61 | 14.97 | 8.92 | -0.67 | 2.76 | 108.48 | 26.41 | 19.58 | -8.93 | -162.96 | -196.23 | 5.43 | -3.89 | -10.54 |
| 23Q3 (19) | 12.04 | 38.55 | 338.89 | 7.55 | 241.63 | 175.2 | 8.79 | 193.98 | 214.9 | 7.09 | 217.94 | 213.8 | 2.26 | 232.35 | 239.51 | 2.04 | 234.43 | 246.76 | 0.29 | 7.41 | 31.82 | 11.05 | 108.1 | 322.33 | 8.98 | -30.28 | -1.21 | 85.82 | 16.18 | -34.61 | 14.18 | -45.74 | 145.38 | 5.65 | -11.58 | -13.48 |
| 23Q2 (18) | 8.69 | -24.63 | -45.89 | 2.21 | -69.0 | -79.65 | 2.99 | -57.95 | -73.59 | 2.23 | -60.18 | -74.6 | 0.68 | -59.04 | -80.06 | 0.61 | -59.6 | -77.82 | 0.27 | 0.0 | -12.9 | 5.31 | -43.51 | -60.34 | 12.88 | 3.12 | -44.79 | 73.86 | -26.5 | -23.04 | 26.14 | 5431.82 | 548.8 | 6.39 | 10.36 | 19.44 |
| 23Q1 (17) | 11.53 | 42.7 | -11.24 | 7.13 | 91.15 | 3.48 | 7.11 | 72.57 | -6.32 | 5.60 | 83.01 | -6.98 | 1.66 | 121.33 | -36.15 | 1.51 | 115.71 | -29.77 | 0.27 | 22.73 | -25.0 | 9.40 | 31.47 | -0.63 | 12.49 | 43.89 | -51.74 | 100.49 | 10.77 | 10.57 | -0.49 | -105.28 | -105.38 | 5.79 | -4.61 | 36.88 |
| 22Q4 (16) | 8.08 | 260.32 | -43.14 | 3.73 | 137.15 | -63.32 | 4.12 | 153.86 | -59.69 | 3.06 | 149.12 | -62.41 | 0.75 | 146.3 | -76.78 | 0.70 | 150.36 | -74.73 | 0.22 | 0.0 | -35.29 | 7.15 | 243.86 | -41.06 | 8.68 | -4.51 | -51.56 | 90.72 | -30.88 | -8.82 | 9.28 | 129.69 | 1751.03 | 6.07 | -7.04 | 22.38 |
| 22Q3 (15) | -5.04 | -131.38 | -133.33 | -10.04 | -192.45 | -189.32 | -7.65 | -167.58 | -166.41 | -6.23 | -170.96 | -166.85 | -1.62 | -147.51 | -146.02 | -1.39 | -150.55 | -145.57 | 0.22 | -29.03 | -33.33 | -4.97 | -137.12 | -136.25 | 9.09 | -61.04 | -43.19 | 131.25 | 36.76 | 34.82 | -31.25 | -875.74 | -1396.88 | 6.53 | 22.06 | 26.55 |
| 22Q2 (14) | 16.06 | 23.63 | 2.16 | 10.86 | 57.62 | -5.97 | 11.32 | 49.14 | -3.17 | 8.78 | 45.85 | -7.29 | 3.41 | 31.15 | -9.07 | 2.75 | 27.91 | -16.16 | 0.31 | -13.89 | -11.43 | 13.39 | 41.54 | -0.59 | 23.33 | -9.85 | 52.28 | 95.97 | 5.6 | -2.89 | 4.03 | -55.83 | 243.22 | 5.35 | 26.48 | -1.83 |
| 22Q1 (13) | 12.99 | -8.59 | -12.53 | 6.89 | -32.25 | -34.38 | 7.59 | -25.73 | -30.87 | 6.02 | -26.04 | -31.9 | 2.60 | -19.5 | -17.72 | 2.15 | -22.38 | -22.94 | 0.36 | 5.88 | 16.13 | 9.46 | -22.01 | -30.24 | 25.88 | 44.42 | 81.49 | 90.88 | -8.66 | -5.07 | 9.12 | 1719.34 | 114.0 | 4.23 | -14.72 | -23.23 |
| 21Q4 (12) | 14.21 | -6.02 | -3.86 | 10.17 | -9.52 | 0.99 | 10.22 | -11.28 | 5.58 | 8.14 | -12.66 | 5.99 | 3.23 | -8.24 | 37.45 | 2.77 | -9.18 | 31.28 | 0.34 | 3.03 | 25.93 | 12.13 | -11.52 | -4.11 | 17.92 | 12.0 | 38.16 | 99.50 | 2.21 | -4.17 | 0.50 | -79.2 | 113.08 | 4.96 | -3.88 | 16.98 |
| 21Q3 (11) | 15.12 | -3.82 | 38.97 | 11.24 | -2.68 | 123.46 | 11.52 | -1.45 | 185.86 | 9.32 | -1.58 | 200.65 | 3.52 | -6.13 | 334.57 | 3.05 | -7.01 | 306.67 | 0.33 | -5.71 | 37.5 | 13.71 | 1.78 | 84.77 | 16.00 | 4.44 | 46.25 | 97.35 | -1.49 | -22.12 | 2.41 | 105.3 | 109.64 | 5.16 | -5.32 | -50.95 |
| 21Q2 (10) | 15.72 | 5.86 | 216.3 | 11.55 | 10.0 | 2917.07 | 11.69 | 6.47 | 1006.2 | 9.47 | 7.13 | 960.91 | 3.75 | 18.67 | 1542.31 | 3.28 | 17.56 | 1590.91 | 0.35 | 12.9 | 66.67 | 13.47 | -0.66 | 430.31 | 15.32 | 7.43 | 51.23 | 98.83 | 3.23 | 221.19 | 1.17 | -72.46 | -98.3 | 5.45 | -1.09 | 0 |
| 21Q1 (9) | 14.85 | 0.47 | 194.64 | 10.50 | 4.27 | 52400.0 | 10.98 | 13.43 | 18200.0 | 8.84 | 15.1 | 9922.22 | 3.16 | 34.47 | 10633.33 | 2.79 | 32.23 | 28000.0 | 0.31 | 14.81 | 24.0 | 13.56 | 7.19 | 307.21 | 14.26 | 9.95 | 46.56 | 95.74 | -7.79 | 91.48 | 4.26 | 211.22 | -91.48 | 5.51 | 29.95 | 0 |
| 20Q4 (8) | 14.78 | 35.85 | 127.73 | 10.07 | 100.2 | 1044.32 | 9.68 | 140.2 | 3823.08 | 7.68 | 147.74 | 2020.0 | 2.35 | 190.12 | 2236.36 | 2.11 | 181.33 | 2737.5 | 0.27 | 12.5 | 12.5 | 12.65 | 70.49 | 281.02 | 12.97 | 18.56 | 27.91 | 103.83 | -16.93 | 131.15 | -3.83 | 84.67 | -100.88 | 4.24 | -59.7 | -41.68 |
| 20Q3 (7) | 10.88 | 118.91 | 178.26 | 5.03 | 1326.83 | 678.16 | 4.03 | 412.4 | 701.49 | 3.10 | 381.82 | 643.86 | 0.81 | 411.54 | 550.0 | 0.75 | 440.91 | 635.71 | 0.24 | 14.29 | -14.29 | 7.42 | 192.13 | 232.74 | 10.94 | 8.0 | 0.0 | 125.00 | 306.25 | -2.17 | -25.00 | -136.11 | 10.0 | 10.52 | 0 | 59.64 |
| 20Q2 (6) | 4.97 | -1.39 | -44.9 | -0.41 | -2150.0 | -110.68 | -1.29 | -2250.0 | -130.71 | -1.10 | -1122.22 | -135.26 | -0.26 | -766.67 | -128.89 | -0.22 | -2100.0 | -126.83 | 0.21 | -16.0 | -19.23 | 2.54 | -23.72 | -64.77 | 10.13 | 4.11 | -14.51 | 30.77 | -38.46 | -66.03 | 69.23 | 38.46 | 715.38 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 5.04 | -22.34 | 17.21 | 0.02 | -97.73 | 102.3 | 0.06 | 123.08 | 106.59 | -0.09 | 77.5 | 90.91 | -0.03 | 72.73 | 88.89 | -0.01 | 87.5 | 95.65 | 0.25 | 4.17 | 0.0 | 3.33 | 0.3 | 44.78 | 9.73 | -4.04 | -7.69 | 50.00 | 115.0 | -47.62 | 50.00 | -88.46 | 1000.0 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 6.49 | 65.98 | 0.0 | 0.88 | 201.15 | 0.0 | -0.26 | 61.19 | 0.0 | -0.40 | 29.82 | 0.0 | -0.11 | 38.89 | 0.0 | -0.08 | 42.86 | 0.0 | 0.24 | -14.29 | 0.0 | 3.32 | 48.88 | 0.0 | 10.14 | -7.31 | 0.0 | -333.33 | -360.87 | 0.0 | 433.33 | 1660.0 | 0.0 | 7.27 | 10.32 | 0.0 |
| 19Q3 (3) | 3.91 | -56.65 | 0.0 | -0.87 | -122.66 | 0.0 | -0.67 | -115.95 | 0.0 | -0.57 | -118.27 | 0.0 | -0.18 | -120.0 | 0.0 | -0.14 | -117.07 | 0.0 | 0.28 | 7.69 | 0.0 | 2.23 | -69.07 | 0.0 | 10.94 | -7.68 | 0.0 | 127.78 | 41.09 | 0.0 | -27.78 | -427.16 | 0.0 | 6.59 | -5.72 | 0.0 |
| 19Q2 (2) | 9.02 | 109.77 | 0.0 | 3.84 | 541.38 | 0.0 | 4.20 | 561.54 | 0.0 | 3.12 | 415.15 | 0.0 | 0.90 | 433.33 | 0.0 | 0.82 | 456.52 | 0.0 | 0.26 | 4.0 | 0.0 | 7.21 | 213.48 | 0.0 | 11.85 | 12.43 | 0.0 | 90.57 | -5.12 | 0.0 | 8.49 | 86.79 | 0.0 | 6.99 | -1.55 | 0.0 |
| 19Q1 (1) | 4.30 | 0.0 | 0.0 | -0.87 | 0.0 | 0.0 | -0.91 | 0.0 | 0.0 | -0.99 | 0.0 | 0.0 | -0.27 | 0.0 | 0.0 | -0.23 | 0.0 | 0.0 | 0.25 | 0.0 | 0.0 | 2.30 | 0.0 | 0.0 | 10.54 | 0.0 | 0.0 | 95.45 | 0.0 | 0.0 | 4.55 | 0.0 | 0.0 | 7.10 | 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) | 10.96 | 16.1 | 6.04 | 45.89 | 2.08 | -6.83 | 6.38 | 26.59 | 5.09 | 31.52 | 6.37 | 26.89 | 5.88 | 31.84 | 1.15 | 0.88 | 8.52 | 16.08 | 8.92 | 2.76 | 94.81 | 15.38 | 5.32 | -70.44 | 0.14 | 12.4 | 5.80 | 8.41 |
| 2022 (9) | 9.44 | -36.9 | 4.14 | -61.88 | 2.24 | 9.89 | 5.04 | -54.55 | 3.87 | -56.66 | 5.02 | -63.03 | 4.46 | -62.17 | 1.14 | -13.64 | 7.34 | -44.35 | 8.68 | -51.56 | 82.17 | -16.14 | 17.98 | 794.73 | 0.12 | -10.07 | 5.35 | 1.71 |
| 2021 (8) | 14.96 | 61.9 | 10.86 | 169.48 | 2.03 | -37.02 | 11.09 | 216.86 | 8.93 | 230.74 | 13.58 | 371.53 | 11.79 | 348.29 | 1.32 | 38.95 | 13.19 | 93.12 | 17.92 | 38.16 | 97.99 | -14.97 | 2.01 | 0 | 0.14 | -23.93 | 5.26 | -27.95 |
| 2020 (7) | 9.24 | 56.61 | 4.03 | 452.05 | 3.23 | 4.94 | 3.50 | 483.33 | 2.70 | 800.0 | 2.88 | 722.86 | 2.63 | 610.81 | 0.95 | -7.77 | 6.83 | 80.69 | 12.97 | 27.91 | 115.24 | -5.28 | -15.24 | 0 | 0.18 | -14.26 | 7.30 | 4.73 |
| 2019 (6) | 5.90 | -5.9 | 0.73 | -36.52 | 3.08 | 25.35 | 0.60 | -53.85 | 0.30 | -65.12 | 0.35 | -67.89 | 0.37 | -63.0 | 1.03 | -8.04 | 3.78 | -0.53 | 10.14 | -1.74 | 121.67 | 36.64 | -21.67 | 0 | 0.21 | 234.24 | 6.97 | 5.77 |
| 2018 (5) | 6.27 | -50.71 | 1.15 | -84.16 | 2.46 | 26.14 | 1.30 | -81.08 | 0.86 | -84.19 | 1.09 | -86.72 | 1.00 | -85.82 | 1.12 | -13.18 | 3.80 | -57.11 | 10.32 | -30.69 | 89.04 | -15.68 | 11.64 | 0 | 0.06 | 554.59 | 6.59 | 5.44 |
| 2017 (4) | 12.72 | -32.34 | 7.26 | -45.9 | 1.95 | -15.32 | 6.87 | -44.42 | 5.44 | -45.87 | 8.21 | -46.41 | 7.05 | -44.0 | 1.29 | 3.2 | 8.86 | -39.73 | 14.89 | -23.52 | 105.60 | -2.79 | -5.60 | 0 | 0.01 | 0 | 6.25 | -9.94 |
| 2016 (3) | 18.80 | 52.1 | 13.42 | 112.01 | 2.30 | 4.71 | 12.36 | 2646.67 | 10.05 | 0 | 15.32 | 0 | 12.59 | 0 | 1.25 | -3.85 | 14.70 | 448.51 | 19.47 | -22.18 | 108.64 | -92.41 | -8.64 | 0 | 0.00 | 0 | 6.94 | 13.58 |
| 2015 (2) | 12.36 | 10.95 | 6.33 | 17.44 | 2.20 | 9.64 | 0.45 | -87.94 | -0.70 | 0 | -1.14 | 0 | -0.88 | 0 | 1.30 | -18.24 | 2.68 | -53.63 | 25.02 | 0.2 | 1431.58 | 891.6 | -1331.58 | 0 | 0.00 | 0 | 6.11 | 23.94 |
| 2014 (1) | 11.14 | 0 | 5.39 | 0 | 2.00 | -15.37 | 3.73 | 0 | 2.61 | 0 | 5.17 | 0 | 4.18 | 0 | 1.59 | 3.25 | 5.78 | -15.12 | 24.97 | 3.01 | 144.37 | 17.58 | -44.37 | 0 | 0.00 | 0 | 4.93 | -2.18 |
