- 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) | 18.67 | 24.8 | 135.73 | 1.84 | 252.07 | 119.45 | 0.85 | 140.87 | 109.04 | 0.04 | 101.13 | 100.48 | 0.10 | 101.05 | 100.62 | 0.22 | 119.13 | 106.13 | 0.67 | 59.52 | 45.65 | 2.03 | 554.84 | 128.19 | 158.27 | -75.0 | -46.96 | 213.33 | 255.56 | 111.26 | -113.33 | -383.33 | -11460.0 | 9.64 | -19.53 | -2.33 |
| 23Q3 (19) | 14.96 | 34.05 | -4.35 | -1.21 | 82.46 | -37.5 | -2.08 | 72.74 | 47.61 | -3.55 | 49.43 | 10.58 | -9.50 | 32.38 | 6.03 | -1.15 | 54.18 | 52.08 | 0.42 | 0.0 | -36.36 | 0.31 | 106.47 | 110.88 | 633.01 | 41.97 | 86.04 | 60.00 | -33.57 | 174.29 | 40.00 | 313.33 | -48.8 | 11.98 | -13.63 | 83.18 |
| 23Q2 (18) | 11.16 | 20.91 | 49.0 | -6.90 | 14.18 | -14.24 | -7.63 | 9.38 | -15.26 | -7.02 | 21.39 | -15.65 | -14.05 | 3.44 | -53.22 | -2.51 | 20.82 | 11.62 | 0.42 | 5.0 | -17.65 | -4.79 | 13.85 | 4.2 | 445.89 | 39.18 | 91.47 | 90.32 | -5.31 | -0.1 | 9.68 | 109.68 | 17.74 | 13.87 | 4.05 | 48.82 |
| 23Q1 (17) | 9.23 | 16.54 | -24.9 | -8.04 | 15.01 | -490.29 | -8.42 | 10.43 | -440.89 | -8.93 | -7.33 | -631.55 | -14.55 | 10.19 | -543.6 | -3.17 | 11.7 | -328.06 | 0.40 | -13.04 | -45.21 | -5.56 | 22.78 | -258.4 | 320.37 | 7.37 | 91.94 | 95.38 | -5.54 | 13.85 | 4.62 | 570.77 | -71.54 | 13.33 | 35.06 | 94.88 |
| 22Q4 (16) | 7.92 | -49.36 | -46.85 | -9.46 | -975.0 | -279.85 | -9.40 | -136.78 | -273.75 | -8.32 | -109.57 | -318.37 | -16.20 | -60.24 | -243.74 | -3.59 | -49.58 | -187.14 | 0.46 | -30.3 | -55.77 | -7.20 | -152.63 | -218.23 | 298.39 | -12.3 | 78.21 | 100.98 | 361.62 | 3.71 | -0.98 | -101.25 | -137.25 | 9.87 | 50.92 | 42.84 |
| 22Q3 (15) | 15.64 | 108.81 | 1.56 | -0.88 | 85.43 | -116.36 | -3.97 | 40.03 | -175.05 | -3.97 | 34.6 | -200.76 | -10.11 | -10.25 | -171.91 | -2.40 | 15.49 | -149.9 | 0.66 | 29.41 | -43.59 | -2.85 | 43.0 | -147.74 | 340.25 | 46.11 | 68.65 | 21.88 | -75.8 | -78.49 | 78.12 | 850.52 | 4709.38 | 6.54 | -29.83 | 25.77 |
| 22Q2 (14) | 7.49 | -39.06 | -68.11 | -6.04 | -393.2 | -174.66 | -6.62 | -368.02 | -186.2 | -6.07 | -461.31 | -186.59 | -9.17 | -379.57 | -122.05 | -2.84 | -304.32 | -128.26 | 0.51 | -30.14 | -64.08 | -5.00 | -242.45 | -161.05 | 232.88 | 39.52 | 12.66 | 90.41 | 7.91 | -14.29 | 8.22 | -49.32 | 250.0 | 9.32 | 36.26 | 58.23 |
| 22Q1 (13) | 12.29 | -17.52 | -17.02 | 2.06 | -60.84 | -63.41 | 2.47 | -54.34 | -57.27 | 1.68 | -55.91 | -58.62 | 3.28 | -70.9 | -82.8 | 1.39 | -66.26 | -60.73 | 0.73 | -29.81 | -13.1 | 3.51 | -42.36 | -46.74 | 166.91 | -0.32 | -65.92 | 83.78 | -13.95 | -13.48 | 16.22 | 516.22 | 670.27 | 6.84 | -1.01 | 0.88 |
| 21Q4 (12) | 14.90 | -3.25 | 21.83 | 5.26 | -2.23 | 140.18 | 5.41 | 2.27 | 106.49 | 3.81 | -3.3 | 89.55 | 11.27 | -19.84 | 9.63 | 4.12 | -14.35 | 84.75 | 1.04 | -11.11 | 2.97 | 6.09 | 2.01 | 69.64 | 167.44 | -17.01 | -60.76 | 97.37 | -4.25 | 18.02 | 2.63 | 255.26 | -84.96 | 6.91 | 32.88 | -1.43 |
| 21Q3 (11) | 15.40 | -34.44 | 38.36 | 5.38 | -33.5 | 10860.0 | 5.29 | -31.12 | 2016.0 | 3.94 | -43.79 | 803.57 | 14.06 | -66.19 | 703.43 | 4.81 | -52.14 | 3106.25 | 1.17 | -17.61 | 32.95 | 5.97 | -27.11 | 251.18 | 201.75 | -2.4 | -48.15 | 101.69 | -3.59 | 405.08 | -1.69 | 69.07 | -101.27 | 5.20 | -11.71 | -37.2 |
| 21Q2 (10) | 23.49 | 58.61 | 67.91 | 8.09 | 43.69 | 241.35 | 7.68 | 32.87 | 368.29 | 7.01 | 72.66 | 494.07 | 41.59 | 118.09 | 818.1 | 10.05 | 183.9 | 691.34 | 1.42 | 69.05 | 77.5 | 8.19 | 24.28 | 143.03 | 206.71 | -57.79 | -42.74 | 105.48 | 8.92 | -28.27 | -5.48 | -360.27 | 88.36 | 5.89 | -13.13 | 0 |
| 21Q1 (9) | 14.81 | 21.1 | 20.31 | 5.63 | 157.08 | 762.35 | 5.78 | 120.61 | 860.53 | 4.06 | 101.99 | 363.64 | 19.07 | 85.51 | 544.52 | 3.54 | 58.74 | 755.56 | 0.84 | -16.83 | 47.37 | 6.59 | 83.57 | 292.26 | 489.69 | 14.75 | 25.17 | 96.84 | 17.38 | -16.99 | 2.11 | -87.97 | 112.63 | 6.78 | -3.28 | -39.08 |
| 20Q4 (8) | 12.23 | 9.88 | -5.12 | 2.19 | 4480.0 | 271.19 | 2.62 | 948.0 | 240.26 | 2.01 | 458.93 | 272.22 | 10.28 | 541.2 | 435.42 | 2.23 | 1493.75 | 201.35 | 1.01 | 14.77 | 38.36 | 3.59 | 111.18 | 40.23 | 426.75 | 9.66 | 13.3 | 82.50 | 347.5 | 10.0 | 17.50 | -86.87 | -30.0 | 7.01 | -15.34 | -21.85 |
| 20Q3 (7) | 11.13 | -20.44 | -21.89 | -0.05 | -102.11 | -102.45 | 0.25 | -84.76 | -78.26 | -0.56 | -147.46 | -188.89 | -2.33 | -151.43 | -206.88 | -0.16 | -112.6 | -120.51 | 0.88 | 10.0 | 27.54 | 1.70 | -49.55 | -42.95 | 389.14 | 7.8 | -3.29 | -33.33 | -122.67 | -119.3 | 133.33 | 383.33 | 283.33 | 8.28 | 0 | -13.84 |
| 20Q2 (6) | 13.99 | 13.65 | 18.86 | 2.37 | 378.82 | 208.72 | 1.64 | 315.79 | 145.68 | 1.18 | 176.62 | 125.88 | 4.53 | 205.59 | 132.83 | 1.27 | 335.19 | 147.04 | 0.80 | 40.35 | 21.21 | 3.37 | 100.6 | 294.8 | 360.99 | -7.73 | -9.27 | 147.06 | 26.05 | 139.94 | -47.06 | -182.35 | -221.57 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 12.31 | -4.5 | -16.2 | -0.85 | -244.07 | -194.44 | -0.76 | -198.7 | -177.55 | -1.54 | -385.19 | -466.67 | -4.29 | -323.44 | -483.04 | -0.54 | -172.97 | -188.52 | 0.57 | -21.92 | -10.94 | 1.68 | -34.38 | -44.92 | 391.23 | 3.87 | 22.05 | 116.67 | 55.56 | 33.33 | -16.67 | -166.67 | -233.33 | 11.13 | 24.08 | 13.22 |
| 19Q4 (4) | 12.89 | -9.54 | 0.0 | 0.59 | -71.08 | 0.0 | 0.77 | -33.04 | 0.0 | 0.54 | -14.29 | 0.0 | 1.92 | -11.93 | 0.0 | 0.74 | -5.13 | 0.0 | 0.73 | 5.8 | 0.0 | 2.56 | -14.09 | 0.0 | 376.65 | -6.39 | 0.0 | 75.00 | -56.58 | 0.0 | 25.00 | 134.38 | 0.0 | 8.97 | -6.66 | 0.0 |
| 19Q3 (3) | 14.25 | 21.07 | 0.0 | 2.04 | 193.58 | 0.0 | 1.15 | 132.03 | 0.0 | 0.63 | 113.82 | 0.0 | 2.18 | 115.8 | 0.0 | 0.78 | 128.89 | 0.0 | 0.69 | 4.55 | 0.0 | 2.98 | 272.25 | 0.0 | 402.38 | 1.13 | 0.0 | 172.73 | 181.82 | 0.0 | -72.73 | -287.88 | 0.0 | 9.61 | -7.06 | 0.0 |
| 19Q2 (2) | 11.77 | -19.88 | 0.0 | -2.18 | -342.22 | 0.0 | -3.59 | -466.33 | 0.0 | -4.56 | -1185.71 | 0.0 | -13.80 | -1332.14 | 0.0 | -2.70 | -542.62 | 0.0 | 0.66 | 3.13 | 0.0 | -1.73 | -156.72 | 0.0 | 397.89 | 24.12 | 0.0 | 61.29 | -29.95 | 0.0 | 38.71 | 209.68 | 0.0 | 10.34 | 5.19 | 0.0 |
| 19Q1 (1) | 14.69 | 0.0 | 0.0 | 0.90 | 0.0 | 0.0 | 0.98 | 0.0 | 0.0 | 0.42 | 0.0 | 0.0 | 1.12 | 0.0 | 0.0 | 0.61 | 0.0 | 0.0 | 0.64 | 0.0 | 0.0 | 3.05 | 0.0 | 0.0 | 320.56 | 0.0 | 0.0 | 87.50 | 0.0 | 0.0 | 12.50 | 0.0 | 0.0 | 9.83 | 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) | 14.69 | 28.63 | -2.30 | 0 | 1.05 | 29.98 | -3.11 | 0 | -3.74 | 0 | -21.07 | 0 | -5.65 | 0 | 1.84 | -30.04 | -1.01 | 0 | 158.27 | -46.96 | 74.44 | -1.57 | 25.56 | 4.86 | 0.15 | -48.16 | 11.64 | 47.72 |
| 2022 (9) | 11.42 | -35.81 | -2.87 | 0 | 0.81 | 87.99 | -3.79 | 0 | -3.68 | 0 | -31.03 | 0 | -8.68 | 0 | 2.63 | -45.09 | -2.37 | 0 | 298.39 | 78.21 | 75.62 | -25.34 | 24.38 | 0 | 0.30 | -0.79 | 7.88 | 28.55 |
| 2021 (8) | 17.79 | 43.82 | 6.27 | 454.87 | 0.43 | -53.36 | 6.18 | 415.0 | 4.93 | 812.96 | 81.30 | 889.05 | 24.26 | 791.91 | 4.79 | 59.67 | 6.83 | 150.18 | 167.44 | -60.76 | 101.28 | 7.13 | -1.47 | 0 | 0.30 | 24.43 | 6.13 | -27.8 |
| 2020 (7) | 12.37 | -7.55 | 1.13 | 205.41 | 0.92 | -11.54 | 1.20 | 0 | 0.54 | 0 | 8.22 | 0 | 2.72 | 0 | 3.00 | 7.91 | 2.73 | 52.51 | 426.75 | 13.3 | 94.55 | 0 | 5.45 | -98.79 | 0.24 | -63.7 | 8.49 | -12.02 |
| 2019 (6) | 13.38 | -6.43 | 0.37 | 0 | 1.04 | 51.1 | -0.12 | 0 | -0.68 | 0 | -8.38 | 0 | -0.50 | 0 | 2.78 | 9.02 | 1.79 | 0 | 376.65 | 18.46 | -350.00 | 0 | 450.00 | 468.87 | 0.66 | -56.21 | 9.65 | -10.48 |
| 2018 (5) | 14.30 | 4.3 | -0.41 | 0 | 0.69 | -21.8 | -2.00 | 0 | -2.48 | 0 | -23.84 | 0 | -5.33 | 0 | 2.55 | 24.39 | -0.45 | 0 | 317.95 | 29.79 | 20.90 | -75.22 | 79.10 | 405.05 | 1.51 | 0 | 10.78 | -11.64 |
| 2017 (4) | 13.71 | 3.55 | -2.38 | 0 | 0.88 | 1.78 | -2.82 | 0 | -2.99 | 0 | -20.04 | 0 | -5.45 | 0 | 2.05 | 14.53 | -0.88 | 0 | 244.97 | 14.23 | 84.34 | 17.11 | 15.66 | -44.03 | 0.00 | 0 | 12.20 | -13.35 |
| 2016 (3) | 13.24 | -18.52 | -5.68 | 0 | 0.87 | 53.57 | -7.87 | 0 | -7.82 | 0 | -37.18 | 0 | -13.26 | 0 | 1.79 | 13.29 | -5.82 | 0 | 214.45 | 63.76 | 72.02 | 0 | 27.98 | -89.2 | 0.00 | 0 | 14.08 | -0.56 |
| 2015 (2) | 16.25 | 9.13 | -3.17 | 0 | 0.57 | -45.3 | 1.97 | 0 | 1.80 | 0 | 6.93 | 0 | 3.40 | 0 | 1.58 | 11.27 | 3.47 | 0 | 130.95 | -18.53 | -161.22 | 0 | 259.18 | 2711.15 | 0.00 | 0 | 14.16 | -10.78 |
| 2014 (1) | 14.89 | 0 | -5.97 | 0 | 1.03 | -9.74 | -6.60 | 0 | -6.62 | 0 | -21.03 | 0 | -8.78 | 0 | 1.42 | -2.74 | -4.37 | 0 | 160.73 | 69.65 | 90.07 | -22.35 | 9.22 | 0 | 0.00 | 0 | 15.87 | -0.44 |
