- 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) | 12.68 | -7.38 | -31.39 | -2.12 | 17.51 | -174.39 | -6.19 | -199.52 | -1573.81 | -4.38 | -189.57 | -8660.0 | -0.73 | -187.95 | -7200.0 | -0.34 | -165.38 | -409.09 | 0.10 | 0.0 | -9.09 | 4.66 | -70.49 | -54.63 | 66.23 | -1.13 | -8.95 | 33.33 | 181.82 | -95.24 | 62.96 | -55.26 | 110.49 | 28.20 | 0.82 | 4.6 |
| 23Q3 (19) | 13.69 | -2.14 | -15.39 | -2.57 | -51.18 | -217.35 | 6.22 | 22.92 | -45.1 | 4.89 | -37.31 | -43.92 | 0.83 | -44.67 | -53.89 | 0.52 | -47.47 | -53.57 | 0.10 | -9.09 | -16.67 | 15.79 | 3.88 | -18.61 | 66.99 | -9.89 | -5.91 | -40.74 | -27.31 | -307.1 | 140.74 | 6.62 | 75.21 | 27.97 | 4.17 | 4.4 |
| 23Q2 (18) | 13.99 | -7.96 | -27.89 | -1.70 | -157.58 | -123.07 | 5.06 | 12550.0 | -63.6 | 7.80 | 1087.34 | -28.37 | 1.50 | 1171.43 | -44.44 | 0.99 | 2375.0 | -38.51 | 0.11 | 10.0 | -21.43 | 15.20 | 40.22 | -25.78 | 74.34 | -3.18 | 0.15 | -32.00 | 0 | -161.22 | 132.00 | 0 | 183.32 | 26.85 | -8.24 | 13.05 |
| 23Q1 (17) | 15.20 | -17.75 | -26.43 | -0.66 | -123.16 | -109.05 | 0.04 | -90.48 | -99.68 | -0.79 | -1480.0 | -108.21 | -0.14 | -1300.0 | -106.48 | 0.04 | -63.64 | -96.92 | 0.10 | -9.09 | -23.08 | 10.84 | 5.55 | -44.15 | 76.78 | 5.55 | 3.91 | 0.00 | -100.0 | -100.0 | 0.00 | 100.0 | -100.0 | 29.26 | 8.53 | 10.0 |
| 22Q4 (16) | 18.48 | 14.22 | 18.31 | 2.85 | 30.14 | -14.93 | 0.42 | -96.29 | -91.45 | -0.05 | -100.57 | -102.26 | -0.01 | -100.56 | -101.96 | 0.11 | -90.18 | -67.65 | 0.11 | -8.33 | -21.43 | 10.27 | -47.06 | -11.77 | 72.74 | 2.16 | 2.16 | 700.00 | 3458.33 | 915.0 | -600.00 | -846.94 | -2033.33 | 26.96 | 0.63 | 7.41 |
| 22Q3 (15) | 16.18 | -16.6 | 1.38 | 2.19 | -70.28 | 21.67 | 11.33 | -18.49 | 116.63 | 8.72 | -19.93 | 137.6 | 1.80 | -33.33 | 104.55 | 1.12 | -30.43 | 100.0 | 0.12 | -14.29 | -14.29 | 19.40 | -5.27 | 66.67 | 71.20 | -4.08 | -0.06 | 19.67 | -62.37 | -44.56 | 80.33 | 72.41 | 24.51 | 26.79 | 12.8 | 9.26 |
| 22Q2 (14) | 19.40 | -6.1 | 4.81 | 7.37 | 1.1 | 459.51 | 13.90 | 11.47 | -56.12 | 10.89 | 13.2 | -48.7 | 2.70 | 25.0 | -41.43 | 1.61 | 23.85 | -41.67 | 0.14 | 7.69 | 7.69 | 20.48 | 5.51 | -46.92 | 74.23 | 0.46 | 4.65 | 52.27 | -11.63 | 884.09 | 46.59 | 10.27 | -56.32 | 23.75 | -10.71 | -21.62 |
| 22Q1 (13) | 20.66 | 32.27 | 30.93 | 7.29 | 117.61 | 539.16 | 12.47 | 153.97 | 559.79 | 9.62 | 335.29 | 388.32 | 2.16 | 323.53 | 453.85 | 1.30 | 282.35 | 364.29 | 0.13 | -7.14 | 8.33 | 19.41 | 66.75 | 104.1 | 73.89 | 3.78 | 5.94 | 59.15 | -14.23 | 166.55 | 42.25 | 36.15 | -77.63 | 26.60 | 5.98 | -4.39 |
| 21Q4 (12) | 15.62 | -2.13 | -24.8 | 3.35 | 86.11 | 208.77 | 4.91 | -6.12 | 215.26 | 2.21 | -39.78 | 174.92 | 0.51 | -42.05 | 187.93 | 0.34 | -39.29 | 209.68 | 0.14 | 0.0 | 16.67 | 11.64 | 0.0 | 266.04 | 71.20 | -0.06 | 12.55 | 68.97 | 94.36 | -1.48 | 31.03 | -51.9 | 3.45 | 25.10 | 2.37 | -30.3 |
| 21Q3 (11) | 15.96 | -13.78 | -23.23 | 1.80 | 187.8 | -33.58 | 5.23 | -83.49 | 407.77 | 3.67 | -82.71 | 242.99 | 0.88 | -80.91 | 319.05 | 0.56 | -79.71 | 211.11 | 0.14 | 7.69 | 16.67 | 11.64 | -69.83 | 35.19 | 71.24 | 0.44 | 17.99 | 35.48 | 632.26 | -85.22 | 64.52 | -39.52 | 140.32 | 24.52 | -19.08 | -14.71 |
| 21Q2 (10) | 18.51 | 17.3 | -17.4 | -2.05 | -23.49 | -134.98 | 31.68 | 1576.19 | 350.64 | 21.23 | 977.66 | 292.42 | 4.61 | 1082.05 | 326.85 | 2.76 | 885.71 | 283.33 | 0.13 | 8.33 | 8.33 | 38.58 | 305.68 | 162.81 | 70.93 | 1.69 | 17.45 | -6.67 | 92.5 | -107.86 | 106.67 | -43.53 | 486.67 | 30.30 | 8.91 | -0.16 |
| 21Q1 (9) | 15.78 | -24.03 | -22.27 | -1.66 | 46.1 | -172.13 | 1.89 | 144.37 | -89.97 | 1.97 | 166.78 | -88.75 | 0.39 | 167.24 | -86.27 | 0.28 | 190.32 | -84.86 | 0.12 | 0.0 | 20.0 | 9.51 | 199.06 | -66.54 | 69.75 | 10.26 | 12.92 | -88.89 | -226.98 | -3144.44 | 188.89 | 529.63 | 83.85 | 27.82 | -22.74 | -14.98 |
| 20Q4 (8) | 20.77 | -0.1 | 2.26 | -3.08 | -213.65 | -235.68 | -4.26 | -513.59 | -184.0 | -2.95 | -375.7 | -793.94 | -0.58 | -376.19 | -866.67 | -0.31 | -272.22 | -3200.0 | 0.12 | 0.0 | 0.0 | 3.18 | -63.07 | -55.71 | 63.26 | 4.77 | 17.89 | 70.00 | -70.83 | 142.0 | 30.00 | 118.75 | -88.75 | 36.01 | 25.25 | 20.07 |
| 20Q3 (7) | 20.79 | -7.23 | -4.28 | 2.71 | -53.75 | -28.87 | 1.03 | -85.35 | -87.36 | 1.07 | -80.22 | -88.92 | 0.21 | -80.56 | -88.27 | 0.18 | -75.0 | -85.48 | 0.12 | 0.0 | 0.0 | 8.61 | -41.35 | -47.75 | 60.38 | -0.02 | 26.82 | 240.00 | 182.86 | 422.35 | -160.00 | -980.0 | -411.58 | 28.75 | -5.27 | -9.7 |
| 20Q2 (6) | 22.41 | 10.39 | 19.58 | 5.86 | 1060.66 | 427.37 | 7.03 | -62.71 | -47.46 | 5.41 | -69.1 | -54.69 | 1.08 | -61.97 | -51.35 | 0.72 | -61.08 | -52.0 | 0.12 | 20.0 | 0.0 | 14.68 | -48.35 | -32.38 | 60.39 | -2.23 | 13.52 | 84.85 | 3196.97 | 746.97 | 18.18 | -82.3 | -83.93 | 30.35 | -7.24 | -9.4 |
| 20Q1 (5) | 20.30 | -0.05 | 1.5 | -0.61 | -126.87 | -408.33 | 18.85 | 1356.67 | 3.01 | 17.51 | 5406.06 | 24.01 | 2.84 | 4833.33 | 9.23 | 1.85 | 18400.0 | 5.71 | 0.10 | -16.67 | -16.67 | 28.42 | 295.82 | 6.16 | 61.77 | 15.11 | 11.1 | -2.74 | 98.36 | -127.4 | 102.74 | -61.47 | 2.74 | 32.72 | 9.1 | 3.32 |
| 19Q4 (4) | 20.31 | -6.49 | 0.0 | 2.27 | -40.42 | 0.0 | -1.50 | -118.4 | 0.0 | -0.33 | -103.42 | 0.0 | -0.06 | -103.35 | 0.0 | 0.01 | -99.19 | 0.0 | 0.12 | 0.0 | 0.0 | 7.18 | -56.43 | 0.0 | 53.66 | 12.71 | 0.0 | -166.67 | -462.75 | 0.0 | 266.67 | 419.3 | 0.0 | 29.99 | -5.81 | 0.0 |
| 19Q3 (3) | 21.72 | 15.9 | 0.0 | 3.81 | 312.85 | 0.0 | 8.15 | -39.09 | 0.0 | 9.66 | -19.1 | 0.0 | 1.79 | -19.37 | 0.0 | 1.24 | -17.33 | 0.0 | 0.12 | 0.0 | 0.0 | 16.48 | -24.09 | 0.0 | 47.61 | -10.51 | 0.0 | 45.95 | 450.34 | 0.0 | 51.35 | -54.6 | 0.0 | 31.84 | -4.96 | 0.0 |
| 19Q2 (2) | 18.74 | -6.3 | 0.0 | -1.79 | -1391.67 | 0.0 | 13.38 | -26.89 | 0.0 | 11.94 | -15.44 | 0.0 | 2.22 | -14.62 | 0.0 | 1.50 | -14.29 | 0.0 | 0.12 | 0.0 | 0.0 | 21.71 | -18.9 | 0.0 | 53.20 | -4.32 | 0.0 | -13.11 | -988.52 | 0.0 | 113.11 | 13.11 | 0.0 | 33.50 | 5.78 | 0.0 |
| 19Q1 (1) | 20.00 | 0.0 | 0.0 | -0.12 | 0.0 | 0.0 | 18.30 | 0.0 | 0.0 | 14.12 | 0.0 | 0.0 | 2.60 | 0.0 | 0.0 | 1.75 | 0.0 | 0.0 | 0.12 | 0.0 | 0.0 | 26.77 | 0.0 | 0.0 | 55.60 | 0.0 | 0.0 | -1.20 | 0.0 | 0.0 | 100.00 | 0.0 | 0.0 | 31.67 | 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) | 13.90 | -25.87 | -1.75 | 0 | 8.85 | 34.06 | 1.41 | -85.84 | 2.06 | -73.04 | 1.44 | -78.12 | 1.23 | -70.15 | 0.41 | -18.0 | 11.75 | -33.77 | 66.23 | -8.95 | -128.00 | 0 | 228.00 | 368.67 | 0.90 | 4.6 | 28.04 | 8.18 |
| 2022 (9) | 18.75 | 14.05 | 5.11 | 846.3 | 6.60 | 6.99 | 9.96 | -7.43 | 7.64 | 7.3 | 6.58 | 4.94 | 4.12 | 4.57 | 0.50 | -5.66 | 17.74 | 0.28 | 72.74 | 2.16 | 51.35 | 901.35 | 48.65 | -48.72 | 0.86 | -10.4 | 25.92 | -3.21 |
| 2021 (8) | 16.44 | -22.12 | 0.54 | -58.14 | 6.17 | -13.49 | 10.76 | 111.39 | 7.12 | 50.53 | 6.27 | 79.14 | 3.94 | 62.81 | 0.53 | 12.77 | 17.69 | 34.52 | 71.20 | 12.55 | 5.13 | -79.71 | 94.87 | 26.96 | 0.96 | -15.03 | 26.78 | -16.18 |
| 2020 (7) | 21.11 | 4.61 | 1.29 | 26.47 | 7.13 | -4.74 | 5.09 | -47.58 | 4.73 | -47.21 | 3.50 | -47.13 | 2.42 | -46.58 | 0.47 | -2.08 | 13.15 | -27.63 | 63.26 | 17.89 | 25.27 | 144.32 | 74.73 | -16.11 | 1.13 | -4.06 | 31.95 | 0.57 |
| 2019 (6) | 20.18 | -9.83 | 1.02 | -75.66 | 7.49 | 39.98 | 9.71 | 5.89 | 8.96 | 13.56 | 6.62 | 0.46 | 4.53 | 4.62 | 0.48 | -7.69 | 18.17 | 16.77 | 53.66 | -0.17 | 10.34 | -77.24 | 89.08 | 64.93 | 1.18 | -2.67 | 31.77 | 4.13 |
| 2018 (5) | 22.38 | -24.75 | 4.19 | -66.05 | 5.35 | 2.07 | 9.17 | -20.54 | 7.89 | -13.3 | 6.59 | -1.49 | 4.33 | -10.91 | 0.52 | 1.96 | 15.56 | -11.99 | 53.75 | -18.54 | 45.45 | -57.42 | 54.01 | 0 | 1.21 | 0 | 30.51 | 5.32 |
| 2017 (4) | 29.74 | 1.05 | 12.34 | 10.67 | 5.24 | -15.39 | 11.54 | -17.92 | 9.10 | -18.6 | 6.69 | -11.39 | 4.86 | -24.77 | 0.51 | -12.07 | 17.68 | -14.22 | 65.98 | 240.63 | 106.76 | 34.33 | -6.76 | 0 | 0.00 | 0 | 28.97 | -1.86 |
| 2016 (3) | 29.43 | 10.81 | 11.15 | 59.29 | 6.20 | -11.32 | 14.06 | 0.21 | 11.18 | -9.77 | 7.55 | -7.59 | 6.46 | -9.52 | 0.58 | 0.0 | 20.61 | -3.15 | 19.37 | 30.44 | 79.48 | 59.68 | 20.52 | -59.14 | 0.00 | 0 | 29.52 | -0.54 |
| 2015 (2) | 26.56 | 7.75 | 7.00 | 1.89 | 6.99 | -3.25 | 14.03 | 16.63 | 12.39 | 10.63 | 8.17 | 2.51 | 7.14 | 3.78 | 0.58 | -4.92 | 21.28 | 9.02 | 14.85 | 5.77 | 49.77 | -12.46 | 50.23 | 17.8 | 0.00 | 0 | 29.68 | 3.7 |
| 2014 (1) | 24.65 | 0 | 6.87 | 0 | 7.22 | 0.85 | 12.03 | 0 | 11.20 | 0 | 7.97 | 0 | 6.88 | 0 | 0.61 | 0.0 | 19.52 | 14.22 | 14.04 | -23.11 | 56.85 | 64.12 | 42.64 | -34.76 | 0.00 | 0 | 28.62 | 8.86 |
