- 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) | 35.33 | 29.75 | 72.26 | 19.86 | 1150.79 | 158.93 | 12.15 | 273.82 | 627.54 | 8.61 | 262.45 | 1588.24 | 2.06 | 274.58 | 2188.89 | 0.75 | 412.5 | 368.75 | 0.07 | 0.0 | 16.67 | 23.99 | 305.24 | 37.32 | 217.62 | -5.67 | 11.39 | 162.03 | 480.59 | -65.89 | -63.29 | -187.79 | 83.12 | 18.67 | -8.53 | -20.32 |
| 23Q3 (19) | 27.23 | 11.01 | 53.75 | -1.89 | -133.27 | 85.57 | -6.99 | -201.29 | 61.19 | -5.30 | -153.59 | 59.14 | -1.18 | -195.0 | 48.25 | -0.24 | 0 | 58.62 | 0.07 | 16.67 | 40.0 | 5.92 | -52.18 | 273.1 | 230.69 | 5.36 | 0.55 | 27.91 | 111.16 | -61.79 | 72.09 | -79.4 | 167.34 | 20.41 | -11.87 | -24.01 |
| 23Q2 (18) | 24.53 | 19.02 | 2.55 | 5.68 | -5.18 | 27.35 | -2.32 | -197.44 | -247.77 | -2.09 | -375.0 | -252.55 | -0.40 | -400.0 | -233.33 | 0.00 | -100.0 | -100.0 | 0.06 | 0.0 | 0.0 | 12.38 | -16.8 | -0.8 | 218.96 | 14.38 | -7.65 | -250.00 | 65.52 | -192.59 | 350.00 | -57.58 | 294.44 | 23.16 | -0.26 | 2.61 |
| 23Q1 (17) | 20.61 | 0.49 | -34.59 | 5.99 | -21.9 | -69.08 | -0.78 | -146.71 | -104.51 | -0.44 | -186.27 | -103.54 | -0.08 | -188.89 | -102.34 | 0.11 | -31.25 | -89.32 | 0.06 | 0.0 | -25.0 | 14.88 | -14.83 | -41.97 | 191.43 | -2.02 | -22.54 | -725.00 | -252.63 | -744.44 | 825.00 | 320.0 | 7140.0 | 23.22 | -0.9 | 1.75 |
| 22Q4 (16) | 20.51 | 15.81 | -30.87 | 7.67 | 158.55 | -49.17 | 1.67 | 109.27 | -87.38 | 0.51 | 103.93 | -95.38 | 0.09 | 103.95 | -96.81 | 0.16 | 127.59 | -82.02 | 0.06 | 20.0 | -25.0 | 17.47 | 610.82 | -22.39 | 195.37 | -14.85 | -23.1 | 475.00 | 550.38 | 318.0 | -375.00 | -1490.62 | -2650.0 | 23.43 | -12.77 | -22.75 |
| 22Q3 (15) | 17.71 | -25.96 | -18.24 | -13.10 | -393.72 | -255.03 | -18.01 | -1247.13 | -201.81 | -12.97 | -1046.72 | -207.63 | -2.28 | -860.0 | -209.09 | -0.58 | -486.67 | -185.29 | 0.05 | -16.67 | 0.0 | -3.42 | -127.4 | -110.57 | 229.43 | -3.24 | 1.82 | 73.03 | -72.95 | 52.33 | 26.97 | 114.98 | -48.2 | 26.86 | 19.01 | 7.05 |
| 22Q2 (14) | 23.92 | -24.09 | -30.28 | 4.46 | -76.97 | -80.92 | 1.57 | -90.92 | -92.54 | 1.37 | -88.98 | -90.79 | 0.30 | -91.23 | -94.09 | 0.15 | -85.44 | -90.91 | 0.06 | -25.0 | -45.45 | 12.48 | -51.33 | -57.07 | 237.11 | -4.05 | -4.01 | 270.00 | 140.0 | 143.62 | -180.00 | -1436.0 | -1562.35 | 22.57 | -1.1 | 0.67 |
| 22Q1 (13) | 31.51 | 6.2 | -3.17 | 19.37 | 28.36 | -4.25 | 17.30 | 30.76 | -2.04 | 12.43 | 12.59 | 4.28 | 3.42 | 21.28 | -3.12 | 1.03 | 15.73 | -21.97 | 0.08 | 0.0 | -27.27 | 25.64 | 13.9 | -5.28 | 247.13 | -2.72 | 30.06 | 112.50 | -1.0 | -1.67 | -11.72 | 14.06 | 18.7 | 22.82 | -24.76 | -0.78 |
| 21Q4 (12) | 29.67 | 36.98 | -0.03 | 15.09 | 78.58 | -22.93 | 13.23 | -25.21 | -22.54 | 11.04 | -8.38 | -13.0 | 2.82 | 34.93 | -26.75 | 0.89 | 30.88 | -42.58 | 0.08 | 60.0 | -33.33 | 22.51 | -30.46 | -15.12 | 254.05 | 12.74 | 50.55 | 113.64 | 137.01 | -1.15 | -13.64 | -126.2 | 8.81 | 30.33 | 20.88 | 43.61 |
| 21Q3 (11) | 21.66 | -36.87 | 3.34 | 8.45 | -63.86 | -10.58 | 17.69 | -15.96 | 173.84 | 12.05 | -19.02 | 208.97 | 2.09 | -58.86 | 124.73 | 0.68 | -58.79 | 44.68 | 0.05 | -54.55 | -50.0 | 32.37 | 11.35 | 76.6 | 225.34 | -8.77 | 50.22 | 47.95 | -56.74 | -66.65 | 52.05 | 580.74 | 211.05 | 25.09 | 11.91 | 9.13 |
| 21Q2 (10) | 34.31 | 5.44 | 79.63 | 23.38 | 15.57 | 411.6 | 21.05 | 19.2 | 239.4 | 14.88 | 24.83 | 236.64 | 5.08 | 43.91 | 402.38 | 1.65 | 25.0 | 379.66 | 0.11 | 0.0 | 83.33 | 29.07 | 7.39 | 692.1 | 247.01 | 30.0 | 79.75 | 110.83 | -3.13 | 462.04 | -10.83 | 24.88 | -108.29 | 22.42 | -2.52 | -35.31 |
| 21Q1 (9) | 32.54 | 9.64 | 28.92 | 20.23 | 3.32 | 130.67 | 17.66 | 3.4 | 189.51 | 11.92 | -6.07 | 156.34 | 3.53 | -8.31 | 206.96 | 1.32 | -14.84 | 127.59 | 0.11 | -8.33 | 10.0 | 27.07 | 2.07 | 45.15 | 190.01 | 12.6 | 30.12 | 114.41 | -0.47 | -20.41 | -14.41 | 3.6 | 67.05 | 23.00 | 8.9 | 0 |
| 20Q4 (8) | 29.68 | 41.6 | 22.29 | 19.58 | 107.2 | 158.31 | 17.08 | 164.4 | 240.92 | 12.69 | 225.38 | 205.78 | 3.85 | 313.98 | 266.67 | 1.55 | 229.79 | 171.93 | 0.12 | 20.0 | 9.09 | 26.52 | 44.68 | 49.58 | 168.75 | 12.49 | 14.55 | 114.95 | -20.03 | -23.36 | -14.95 | 68.1 | 70.09 | 21.12 | -8.13 | -6.55 |
| 20Q3 (7) | 20.96 | 9.74 | -6.01 | 9.45 | 106.78 | 19.92 | 6.46 | 142.78 | 26.67 | 3.90 | 135.81 | 22.26 | 0.93 | 155.36 | 6.9 | 0.47 | 179.66 | -9.62 | 0.10 | 66.67 | -16.67 | 18.33 | 399.46 | 9.24 | 150.01 | 9.16 | 13.7 | 143.75 | 569.58 | -7.36 | -46.88 | -135.89 | 15.04 | 22.99 | -33.67 | 1.46 |
| 20Q2 (6) | 19.10 | -24.33 | -18.41 | 4.57 | -47.89 | -47.35 | -15.10 | -347.54 | -374.05 | -10.89 | -334.19 | -384.33 | -1.68 | -246.09 | -260.0 | -0.59 | -201.72 | -200.0 | 0.06 | -40.0 | -50.0 | 3.67 | -80.32 | -77.59 | 137.42 | -5.9 | -3.35 | -30.61 | -121.3 | -119.59 | 130.61 | 398.54 | 332.2 | 34.66 | 0 | 51.62 |
| 20Q1 (5) | 25.24 | 4.0 | -2.36 | 8.77 | 15.7 | 8.14 | 6.10 | 21.76 | 17.08 | 4.65 | 12.05 | 18.02 | 1.15 | 9.52 | 19.79 | 0.58 | 1.75 | 3.57 | 0.10 | -9.09 | -9.09 | 18.65 | 5.19 | 12.35 | 146.03 | -0.87 | 20.76 | 143.75 | -4.17 | -7.59 | -43.75 | 12.5 | 21.25 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 24.27 | 8.83 | 0.0 | 7.58 | -3.81 | 0.0 | 5.01 | -1.76 | 0.0 | 4.15 | 30.09 | 0.0 | 1.05 | 20.69 | 0.0 | 0.57 | 9.62 | 0.0 | 0.11 | -8.33 | 0.0 | 17.73 | 5.66 | 0.0 | 147.31 | 11.66 | 0.0 | 150.00 | -3.33 | 0.0 | -50.00 | 9.37 | 0.0 | 22.60 | -0.26 | 0.0 |
| 19Q3 (3) | 22.30 | -4.74 | 0.0 | 7.88 | -9.22 | 0.0 | 5.10 | -7.44 | 0.0 | 3.19 | -16.71 | 0.0 | 0.87 | -17.14 | 0.0 | 0.52 | -11.86 | 0.0 | 0.12 | 0.0 | 0.0 | 16.78 | 2.44 | 0.0 | 131.93 | -7.22 | 0.0 | 155.17 | -0.69 | 0.0 | -55.17 | 1.92 | 0.0 | 22.66 | -0.87 | 0.0 |
| 19Q2 (2) | 23.41 | -9.44 | 0.0 | 8.68 | 7.03 | 0.0 | 5.51 | 5.76 | 0.0 | 3.83 | -2.79 | 0.0 | 1.05 | 9.38 | 0.0 | 0.59 | 5.36 | 0.0 | 0.12 | 9.09 | 0.0 | 16.38 | -1.33 | 0.0 | 142.19 | 17.58 | 0.0 | 156.25 | 0.45 | 0.0 | -56.25 | -1.25 | 0.0 | 22.86 | -4.99 | 0.0 |
| 19Q1 (1) | 25.85 | 0.0 | 0.0 | 8.11 | 0.0 | 0.0 | 5.21 | 0.0 | 0.0 | 3.94 | 0.0 | 0.0 | 0.96 | 0.0 | 0.0 | 0.56 | 0.0 | 0.0 | 0.11 | 0.0 | 0.0 | 16.60 | 0.0 | 0.0 | 120.93 | 0.0 | 0.0 | 155.56 | 0.0 | 0.0 | -55.56 | 0.0 | 0.0 | 24.06 | 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) | 27.50 | 13.26 | 7.76 | 26.59 | 10.16 | 15.14 | 0.89 | -63.22 | 0.45 | -72.73 | 0.38 | -73.43 | 0.65 | -19.75 | 0.27 | 0.0 | 14.49 | 1.47 | 217.62 | 11.39 | 880.00 | 248.33 | -780.00 | 0 | 0.34 | -19.39 | 21.15 | -10.91 |
| 2022 (9) | 24.28 | -20.29 | 6.13 | -65.56 | 8.82 | 9.6 | 2.42 | -86.17 | 1.65 | -86.9 | 1.43 | -89.1 | 0.81 | -81.51 | 0.27 | -18.18 | 14.28 | -47.69 | 195.37 | -23.1 | 252.63 | 148.0 | -152.63 | 0 | 0.43 | 108.32 | 23.74 | -5.64 |
| 2021 (8) | 30.46 | 24.02 | 17.80 | 52.27 | 8.05 | -18.03 | 17.50 | 184.09 | 12.60 | 183.78 | 13.12 | 208.71 | 4.38 | 117.91 | 0.33 | -10.81 | 27.30 | 46.93 | 254.05 | 50.55 | 101.87 | -46.41 | -1.64 | 0 | 0.20 | 14.48 | 25.16 | 3.28 |
| 2020 (7) | 24.56 | 2.72 | 11.69 | 44.68 | 9.82 | 11.98 | 6.16 | 18.23 | 4.44 | 18.09 | 4.25 | 7.32 | 2.01 | -9.87 | 0.37 | -17.78 | 18.58 | 9.94 | 168.75 | 14.55 | 190.08 | 22.43 | -90.08 | 0 | 0.18 | -10.52 | 24.36 | 5.78 |
| 2019 (6) | 23.91 | -7.36 | 8.08 | -16.44 | 8.77 | 40.66 | 5.21 | -28.24 | 3.76 | -34.27 | 3.96 | -36.33 | 2.23 | -29.21 | 0.45 | -4.26 | 16.90 | 4.9 | 147.31 | 18.12 | 155.26 | 16.63 | -55.26 | 0 | 0.20 | -31.51 | 23.03 | -0.13 |
| 2018 (5) | 25.81 | -7.69 | 9.67 | -12.41 | 6.24 | 10.2 | 7.26 | -24.53 | 5.72 | -14.88 | 6.22 | -21.07 | 3.15 | -18.18 | 0.47 | -9.62 | 16.11 | -5.84 | 124.71 | -12.33 | 133.12 | 16.09 | -33.12 | 0 | 0.29 | 0 | 23.06 | 0.65 |
| 2017 (4) | 27.96 | -9.75 | 11.04 | -24.38 | 5.66 | -2.3 | 9.62 | -26.73 | 6.72 | -23.11 | 7.88 | -28.82 | 3.85 | -29.49 | 0.52 | -10.34 | 17.11 | -16.98 | 142.25 | 31.03 | 114.68 | 2.98 | -14.68 | 0 | 0.00 | 0 | 22.91 | 5.53 |
| 2016 (3) | 30.98 | 31.49 | 14.60 | 123.58 | 5.79 | -7.24 | 13.13 | 138.73 | 8.74 | 204.53 | 11.07 | 214.49 | 5.46 | 155.14 | 0.58 | 1.75 | 20.61 | 49.56 | 108.56 | -15.09 | 111.36 | -6.01 | -11.36 | 0 | 0.00 | 0 | 21.71 | -8.93 |
| 2015 (2) | 23.56 | 0.26 | 6.53 | -16.82 | 6.24 | 12.93 | 5.50 | -60.09 | 2.87 | -66.82 | 3.52 | -67.5 | 2.14 | -64.74 | 0.57 | -10.94 | 13.78 | -34.78 | 127.85 | 22.86 | 118.49 | 107.35 | -18.49 | 0 | 0.00 | 0 | 23.84 | 4.29 |
| 2014 (1) | 23.50 | 0 | 7.85 | 0 | 5.53 | -10.07 | 13.78 | 0 | 8.65 | 0 | 10.83 | 0 | 6.07 | 0 | 0.64 | -3.03 | 21.13 | 56.75 | 104.06 | 21.13 | 57.14 | -46.0 | 42.86 | 0 | 0.00 | 0 | 22.86 | -1.21 |
