- 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) | 1.61 | -63.16 | -59.14 | -2.34 | -1331.58 | -331.68 | -1.53 | -205.52 | -209.29 | -1.20 | -205.26 | -231.87 | -0.52 | -204.0 | -226.83 | -0.45 | -202.27 | -225.0 | 0.38 | 0.0 | -2.56 | -0.83 | -140.1 | -139.15 | 13.96 | 0.29 | 8.22 | 154.55 | 1445.45 | 112.5 | -54.55 | -160.61 | -300.0 | 4.11 | 0.49 | 5.38 |
| 23Q3 (19) | 4.37 | 2527.78 | 25.21 | 0.19 | 105.57 | -53.66 | 1.45 | 170.73 | -18.08 | 1.14 | 160.64 | -26.92 | 0.50 | 164.94 | -33.33 | 0.44 | 167.69 | -30.16 | 0.38 | 8.57 | -5.0 | 2.07 | 255.64 | -12.29 | 13.92 | -8.06 | -15.64 | 10.00 | -93.91 | -53.33 | 90.00 | 240.0 | 14.55 | 4.09 | -3.99 | 10.24 |
| 23Q2 (18) | -0.18 | -200.0 | 96.45 | -3.41 | -24.91 | 50.29 | -2.05 | -29.75 | 65.02 | -1.88 | -80.77 | 58.5 | -0.77 | -71.11 | 62.25 | -0.65 | -71.05 | 59.63 | 0.35 | -7.89 | -2.78 | -1.33 | -40.0 | 73.97 | 15.14 | -24.68 | -35.6 | 164.29 | -1.43 | 42.17 | -64.29 | 3.57 | -261.61 | 4.26 | 7.3 | 35.24 |
| 23Q1 (17) | 0.18 | -95.43 | -97.9 | -2.73 | -370.3 | -148.4 | -1.58 | -212.86 | -124.88 | -1.04 | -214.29 | -120.23 | -0.45 | -209.76 | -114.9 | -0.38 | -205.56 | -115.77 | 0.38 | -2.56 | -19.15 | -0.95 | -144.81 | -113.87 | 20.10 | 55.81 | -30.16 | 166.67 | 129.17 | 89.66 | -66.67 | -344.44 | -728.57 | 3.97 | 1.79 | 13.11 |
| 22Q4 (16) | 3.94 | 12.89 | 111.83 | 1.01 | 146.34 | 218.82 | 1.40 | -20.9 | 537.5 | 0.91 | -41.67 | 800.0 | 0.41 | -45.33 | 783.33 | 0.36 | -42.86 | 1000.0 | 0.39 | -2.5 | -2.5 | 2.12 | -10.17 | 523.53 | 12.90 | -21.82 | -45.08 | 72.73 | 239.39 | -72.73 | 27.27 | -65.29 | 116.36 | 3.90 | 5.12 | 21.12 |
| 22Q3 (15) | 3.49 | 168.84 | -68.1 | 0.41 | 105.98 | -94.59 | 1.77 | 130.2 | -77.99 | 1.56 | 134.44 | -76.04 | 0.75 | 136.76 | -76.42 | 0.63 | 139.13 | -75.49 | 0.40 | 11.11 | 2.56 | 2.36 | 146.18 | -72.69 | 16.50 | -29.82 | -27.47 | 21.43 | -81.46 | -77.27 | 78.57 | 541.96 | 1275.0 | 3.71 | 17.78 | -8.85 |
| 22Q2 (14) | -5.07 | -159.02 | -142.61 | -6.86 | -221.63 | -181.09 | -5.86 | -192.28 | -166.36 | -4.53 | -188.13 | -163.62 | -2.04 | -167.55 | -157.46 | -1.61 | -166.8 | -155.33 | 0.36 | -23.4 | -12.2 | -5.11 | -174.6 | -153.96 | 23.51 | -18.31 | -5.81 | 115.56 | 31.49 | 20.24 | -17.78 | -267.62 | -556.3 | 3.15 | -10.26 | -22.41 |
| 22Q1 (13) | 8.59 | 361.83 | -13.41 | 5.64 | 763.53 | -16.2 | 6.35 | 2084.38 | -10.44 | 5.14 | 4053.85 | -10.14 | 3.02 | 5133.33 | 6.34 | 2.41 | 6125.0 | 2.12 | 0.47 | 17.5 | 14.63 | 6.85 | 1914.71 | -12.18 | 28.78 | 22.52 | 45.43 | 87.88 | -67.05 | -7.58 | 10.61 | 106.36 | 115.66 | 3.51 | 9.01 | -15.63 |
| 21Q4 (12) | 1.86 | -83.0 | -70.14 | -0.85 | -111.21 | -140.48 | -0.32 | -103.98 | -115.02 | -0.13 | -102.0 | -107.43 | -0.06 | -101.89 | -106.59 | -0.04 | -101.56 | -105.33 | 0.40 | 2.56 | -4.76 | 0.34 | -96.06 | -87.94 | 23.49 | 3.25 | 9.1 | 266.67 | 182.83 | 166.67 | -166.67 | -3016.67 | 0 | 3.22 | -20.88 | -36.86 |
| 21Q3 (11) | 10.94 | -8.07 | 53.87 | 7.58 | -10.4 | 78.35 | 8.04 | -8.95 | 84.83 | 6.51 | -8.57 | 78.85 | 3.18 | -10.42 | 67.37 | 2.57 | -11.68 | 65.81 | 0.39 | -4.88 | -7.14 | 8.64 | -8.76 | 71.43 | 22.75 | -8.85 | -8.08 | 94.29 | -1.89 | -3.17 | 5.71 | 46.67 | 117.14 | 4.07 | 0.25 | 29.21 |
| 21Q2 (10) | 11.90 | 19.96 | 76.3 | 8.46 | 25.71 | 128.65 | 8.83 | 24.54 | 134.84 | 7.12 | 24.48 | 135.76 | 3.55 | 25.0 | 157.25 | 2.91 | 23.31 | 150.86 | 0.41 | 0.0 | 7.89 | 9.47 | 21.41 | 112.33 | 24.96 | 26.12 | 15.08 | 96.10 | 1.07 | -0.46 | 3.90 | -20.78 | 0 | 4.06 | -2.4 | 14.69 |
| 21Q1 (9) | 9.92 | 59.23 | 177.87 | 6.73 | 220.48 | 985.48 | 7.09 | 232.86 | 679.12 | 5.72 | 226.86 | 652.63 | 2.84 | 212.09 | 735.29 | 2.36 | 214.67 | 713.79 | 0.41 | -2.38 | 10.81 | 7.80 | 176.6 | 314.89 | 19.79 | -8.08 | 5.77 | 95.08 | -4.92 | 33.11 | 4.92 | 0 | -82.79 | 4.16 | -18.43 | 15.24 |
| 20Q4 (8) | 6.23 | -12.38 | 154.29 | 2.10 | -50.59 | 468.42 | 2.13 | -51.03 | 965.0 | 1.75 | -51.92 | 257.14 | 0.91 | -52.11 | 313.64 | 0.75 | -51.61 | 316.67 | 0.42 | 0.0 | 16.67 | 2.82 | -44.05 | 158.72 | 21.53 | -13.01 | 11.55 | 100.00 | 2.7 | 125.0 | 0.00 | -100.0 | -100.0 | 5.10 | 61.9 | 26.24 |
| 20Q3 (7) | 7.11 | 5.33 | -5.45 | 4.25 | 14.86 | 9.82 | 4.35 | 15.69 | 7.67 | 3.64 | 20.53 | 12.35 | 1.90 | 37.68 | 29.25 | 1.55 | 33.62 | 29.17 | 0.42 | 10.53 | 13.51 | 5.04 | 13.0 | 1.82 | 24.75 | 14.11 | 7.1 | 97.37 | 0.85 | 0.73 | 2.63 | 0 | -21.05 | 3.15 | -11.02 | -28.41 |
| 20Q2 (6) | 6.75 | 89.08 | 81.45 | 3.70 | 496.77 | 1380.0 | 3.76 | 313.19 | 840.0 | 3.02 | 297.37 | 1913.33 | 1.38 | 305.88 | 2200.0 | 1.16 | 300.0 | 2220.0 | 0.38 | 2.7 | 11.76 | 4.46 | 137.23 | 235.34 | 21.69 | 15.93 | 1.83 | 96.55 | 35.17 | 44.83 | 0.00 | -100.0 | -100.0 | 3.54 | -1.94 | -21.51 |
| 20Q1 (5) | 3.57 | 45.71 | -48.26 | 0.62 | 208.77 | -81.16 | 0.91 | 355.0 | -73.16 | 0.76 | 55.1 | -71.85 | 0.34 | 54.55 | -69.64 | 0.29 | 61.11 | -69.15 | 0.37 | 2.78 | 5.71 | 1.88 | 72.48 | -56.98 | 18.71 | -3.06 | -8.78 | 71.43 | 117.86 | -28.57 | 28.57 | -95.24 | 557.14 | 3.61 | -10.64 | -24.16 |
| 19Q4 (4) | 2.45 | -67.42 | 0.0 | -0.57 | -114.73 | 0.0 | 0.20 | -95.05 | 0.0 | 0.49 | -84.88 | 0.0 | 0.22 | -85.03 | 0.0 | 0.18 | -85.0 | 0.0 | 0.36 | -2.7 | 0.0 | 1.09 | -77.98 | 0.0 | 19.30 | -16.49 | 0.0 | -400.00 | -513.79 | 0.0 | 600.00 | 17900.0 | 0.0 | 4.04 | -8.18 | 0.0 |
| 19Q3 (3) | 7.52 | 102.15 | 0.0 | 3.87 | 1448.0 | 0.0 | 4.04 | 910.0 | 0.0 | 3.24 | 2060.0 | 0.0 | 1.47 | 2350.0 | 0.0 | 1.20 | 2300.0 | 0.0 | 0.37 | 8.82 | 0.0 | 4.95 | 272.18 | 0.0 | 23.11 | 8.5 | 0.0 | 96.67 | 45.0 | 0.0 | 3.33 | -90.0 | 0.0 | 4.40 | -2.44 | 0.0 |
| 19Q2 (2) | 3.72 | -46.09 | 0.0 | 0.25 | -92.4 | 0.0 | 0.40 | -88.2 | 0.0 | 0.15 | -94.44 | 0.0 | 0.06 | -94.64 | 0.0 | 0.05 | -94.68 | 0.0 | 0.34 | -2.86 | 0.0 | 1.33 | -69.57 | 0.0 | 21.30 | 3.85 | 0.0 | 66.67 | -33.33 | 0.0 | 33.33 | 666.67 | 0.0 | 4.51 | -5.25 | 0.0 |
| 19Q1 (1) | 6.90 | 0.0 | 0.0 | 3.29 | 0.0 | 0.0 | 3.39 | 0.0 | 0.0 | 2.70 | 0.0 | 0.0 | 1.12 | 0.0 | 0.0 | 0.94 | 0.0 | 0.0 | 0.35 | 0.0 | 0.0 | 4.37 | 0.0 | 0.0 | 20.51 | 0.0 | 0.0 | 100.00 | 0.0 | 0.0 | 4.35 | 0.0 | 0.0 | 4.76 | 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) | 1.52 | -52.8 | -2.05 | 0 | 0.63 | 5.69 | -0.92 | 0 | -0.73 | 0 | -1.24 | 0 | -1.07 | 0 | 1.50 | -7.41 | -0.24 | 0 | 13.96 | 8.22 | 226.92 | 514.03 | -126.92 | 0 | 0.00 | 0 | 4.10 | 15.17 |
| 2022 (9) | 3.22 | -62.65 | 0.51 | -90.64 | 0.60 | -1.13 | 1.37 | -76.7 | 1.14 | -76.15 | 2.17 | -77.11 | 1.86 | -76.06 | 1.62 | 0.0 | 1.99 | -69.53 | 12.90 | -45.08 | 36.96 | -60.13 | 63.04 | 761.59 | 0.00 | 0 | 3.56 | -8.25 |
| 2021 (8) | 8.62 | 44.15 | 5.45 | 101.11 | 0.60 | -14.51 | 5.88 | 107.77 | 4.78 | 105.15 | 9.48 | 111.14 | 7.77 | 106.65 | 1.62 | 1.25 | 6.53 | 83.94 | 23.49 | 9.1 | 92.68 | -4.19 | 7.32 | 68.29 | 0.00 | 0 | 3.88 | 0.0 |
| 2020 (7) | 5.98 | 15.89 | 2.71 | 57.56 | 0.70 | -16.57 | 2.83 | 39.41 | 2.33 | 39.52 | 4.49 | 56.99 | 3.76 | 56.02 | 1.60 | 11.89 | 3.55 | 21.58 | 21.53 | 11.55 | 96.74 | 14.51 | 4.35 | -71.98 | 0.05 | -3.85 | 3.88 | -12.22 |
| 2019 (6) | 5.16 | 30.3 | 1.72 | 112.35 | 0.84 | 23.25 | 2.03 | 212.31 | 1.67 | 215.09 | 2.86 | 186.0 | 2.41 | 186.9 | 1.43 | -7.14 | 2.92 | 113.14 | 19.30 | -3.98 | 84.48 | -32.41 | 15.52 | 0 | 0.05 | -1.4 | 4.42 | 6.76 |
| 2018 (5) | 3.96 | -6.38 | 0.81 | 15.71 | 0.68 | -26.53 | 0.65 | -7.14 | 0.53 | -3.64 | 1.00 | 8.7 | 0.84 | 9.09 | 1.54 | 10.79 | 1.37 | -16.97 | 20.10 | -10.79 | 125.00 | 31.58 | -25.00 | 0 | 0.05 | 0 | 4.14 | -6.97 |
| 2017 (4) | 4.23 | -36.68 | 0.70 | -72.66 | 0.93 | -2.08 | 0.70 | -77.12 | 0.55 | -78.76 | 0.92 | -79.33 | 0.77 | -78.85 | 1.39 | -0.71 | 1.65 | -58.96 | 22.53 | 8.84 | 95.00 | 13.22 | 0.00 | 0 | 0.00 | 0 | 4.45 | -6.71 |
| 2016 (3) | 6.68 | 72.61 | 2.56 | 468.89 | 0.95 | 11.35 | 3.06 | 135.38 | 2.59 | 129.2 | 4.45 | 110.9 | 3.64 | 115.38 | 1.40 | -6.04 | 4.02 | 85.25 | 20.70 | -16.8 | 83.91 | 133.74 | 16.09 | -75.86 | 0.00 | 0 | 4.77 | 8.66 |
| 2015 (2) | 3.87 | -21.02 | 0.45 | -73.84 | 0.85 | -0.77 | 1.30 | -40.37 | 1.13 | -31.52 | 2.11 | -39.37 | 1.69 | -39.86 | 1.49 | -11.83 | 2.17 | -29.32 | 24.88 | -6.75 | 35.90 | -54.53 | 66.67 | 216.67 | 0.00 | 0 | 4.39 | 6.81 |
| 2014 (1) | 4.90 | 0 | 1.72 | 0 | 0.86 | 11.14 | 2.18 | 0 | 1.65 | 0 | 3.48 | 0 | 2.81 | 0 | 1.69 | 4.32 | 3.07 | 37.05 | 26.68 | 16.46 | 78.95 | 16.1 | 21.05 | -34.21 | 0.00 | 0 | 4.11 | 3.01 |
