- 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) | 48.94 | 79.01 | -15.4 | -55.81 | -125.4 | -30.18 | -130.25 | -50.93 | -29.25 | -130.78 | -51.54 | -30.14 | -1.68 | -54.13 | -50.0 | -0.40 | -150.0 | -33.33 | 0.01 | 0.0 | 0.0 | -25.86 | -287.53 | -348.18 | 120.23 | 8.66 | 45.7 | 42.67 | 52.38 | 0.85 | 57.33 | -18.1 | -0.62 | 64.17 | 3.02 | 23.71 |
| 23Q3 (19) | 27.34 | -3.08 | 23.99 | -24.76 | 29.68 | 31.18 | -86.30 | 24.11 | -58.96 | -86.30 | 24.11 | -58.96 | -1.09 | 21.01 | -78.69 | -0.16 | 51.52 | -33.33 | 0.01 | 0.0 | 0.0 | 13.79 | 208.33 | -20.34 | 110.65 | 6.51 | 46.95 | 28.00 | -8.63 | -58.74 | 70.00 | 0.93 | 117.78 | 62.29 | -0.35 | -0.37 |
| 23Q2 (18) | 28.21 | -3.32 | -10.1 | -35.21 | 5.6 | 15.79 | -113.71 | -16.75 | -31.17 | -113.71 | -16.75 | -31.17 | -1.38 | -21.05 | -45.26 | -0.33 | -26.92 | 10.81 | 0.01 | 0.0 | 0.0 | -12.73 | 0 | 36.35 | 103.89 | 14.53 | 50.33 | 30.65 | -20.32 | -37.25 | 69.35 | 12.7 | 35.56 | 62.51 | -4.97 | -2.4 |
| 23Q1 (17) | 29.18 | -49.56 | -15.3 | -37.30 | 12.99 | -6.06 | -97.40 | 3.34 | -86.3 | -97.40 | 3.07 | -86.3 | -1.14 | -1.79 | -103.57 | -0.26 | 13.33 | -30.0 | 0.01 | 0.0 | 0.0 | 0.00 | 100.0 | -100.0 | 90.71 | 9.92 | 35.47 | 38.46 | -9.09 | -41.18 | 61.54 | 6.67 | 100.0 | 65.78 | 26.82 | -1.44 |
| 22Q4 (16) | 57.85 | 162.36 | 31.81 | -42.87 | -19.15 | -419.64 | -100.77 | -85.61 | -527.46 | -100.49 | -85.1 | -467.42 | -1.12 | -83.61 | -173.17 | -0.30 | -150.0 | -200.0 | 0.01 | 0.0 | 0.0 | -5.77 | -133.33 | -155.59 | 82.52 | 9.59 | 19.59 | 42.31 | -37.65 | -20.09 | 57.69 | 79.49 | 22.6 | 51.87 | -17.03 | 93.69 |
| 22Q3 (15) | 22.05 | -29.73 | -4.46 | -35.98 | 13.94 | -925.07 | -54.29 | 37.37 | -472.08 | -54.29 | 37.37 | -459.69 | -0.61 | 35.79 | -134.62 | -0.12 | 67.57 | -500.0 | 0.01 | 0.0 | -50.0 | 17.31 | 186.55 | 36.3 | 75.30 | 8.96 | 15.83 | 67.86 | 38.95 | 103.57 | 32.14 | -37.18 | -51.79 | 62.52 | -2.39 | 174.21 |
| 22Q2 (14) | 31.38 | -8.91 | -9.36 | -41.81 | -18.88 | -415.79 | -86.69 | -65.82 | -1516.5 | -86.69 | -65.82 | -1343.76 | -0.95 | -69.64 | -465.38 | -0.37 | -85.0 | -215.62 | 0.01 | 0.0 | -50.0 | -20.00 | -590.2 | -192.51 | 69.11 | 3.21 | 25.34 | 48.84 | -25.31 | -77.62 | 51.16 | 66.28 | 143.29 | 64.05 | -4.03 | 311.1 |
| 22Q1 (13) | 34.45 | -21.51 | 4.71 | -35.17 | -326.3 | -277.99 | -52.28 | -225.53 | -418.97 | -52.28 | -195.2 | -428.39 | -0.56 | -36.59 | -145.9 | -0.20 | -100.0 | -121.74 | 0.01 | 0.0 | -80.0 | 4.08 | -60.69 | -83.14 | 66.96 | -2.96 | 15.69 | 65.38 | 23.5 | -45.22 | 30.77 | -34.62 | 246.75 | 66.74 | 149.22 | 671.56 |
| 21Q4 (12) | 43.89 | 90.16 | 9.64 | -8.25 | -135.04 | -129.13 | -16.06 | -69.23 | -157.96 | -17.71 | -82.58 | -173.03 | -0.41 | -57.69 | -111.48 | -0.10 | -400.0 | -104.31 | 0.01 | -50.0 | -88.89 | 10.38 | -18.27 | -67.62 | 69.00 | 6.14 | 11.89 | 52.94 | 58.82 | -48.38 | 47.06 | -29.41 | 2394.12 | 26.78 | 17.46 | 370.65 |
| 21Q3 (11) | 23.08 | -33.33 | -44.08 | -3.51 | -126.51 | -117.36 | -9.49 | -255.07 | -162.72 | -9.70 | -239.17 | -166.08 | -0.26 | -200.0 | -138.81 | -0.02 | -106.25 | -103.57 | 0.02 | 0.0 | -33.33 | 12.70 | -41.26 | -56.46 | 65.01 | 17.9 | -5.73 | 33.33 | -84.72 | -75.0 | 66.67 | 156.41 | 300.0 | 22.80 | 46.34 | 58.22 |
| 21Q2 (10) | 34.62 | 5.23 | -36.95 | 13.24 | -33.0 | -14.25 | 6.12 | -62.66 | 1323.26 | 6.97 | -56.22 | 164.72 | 0.26 | -78.69 | 208.33 | 0.32 | -65.22 | 255.56 | 0.02 | -60.0 | 100.0 | 21.62 | -10.66 | -40.83 | 55.14 | -4.73 | -19.41 | 218.18 | 82.8 | 0 | -118.18 | -463.64 | 0 | 15.58 | 80.12 | 0 |
| 21Q1 (9) | 32.90 | -17.81 | -17.48 | 19.76 | -30.23 | -17.39 | 16.39 | -40.85 | 22.86 | 15.92 | -34.35 | 23.32 | 1.22 | -65.83 | 43.53 | 0.92 | -60.34 | 22.67 | 0.05 | -44.44 | 25.0 | 24.20 | -24.52 | -8.75 | 57.88 | -6.15 | -14.83 | 119.35 | 16.37 | -33.16 | -20.97 | -922.18 | 73.31 | 8.65 | 52.02 | -16.51 |
| 20Q4 (8) | 40.03 | -3.0 | -15.57 | 28.32 | 40.06 | 12.07 | 27.71 | 83.15 | 18.72 | 24.25 | 65.19 | 14.82 | 3.57 | 432.84 | 170.45 | 2.32 | 314.29 | 112.84 | 0.09 | 200.0 | 200.0 | 32.06 | 9.91 | -33.42 | 61.67 | -10.57 | -21.81 | 102.56 | -23.08 | -5.64 | -2.05 | 93.85 | 76.41 | 5.69 | -60.51 | -56.2 |
| 20Q3 (7) | 41.27 | -24.84 | -4.71 | 20.22 | 30.96 | -23.44 | 15.13 | 3418.6 | -28.36 | 14.68 | 236.3 | -27.18 | 0.67 | 379.17 | -50.37 | 0.56 | 522.22 | -39.78 | 0.03 | 200.0 | -25.0 | 29.17 | -20.17 | -4.3 | 68.96 | 0.79 | -12.14 | 133.33 | 0 | 7.63 | -33.33 | 0 | -31.37 | 14.41 | 0 | 38.42 |
| 20Q2 (6) | 54.91 | 37.72 | 23.64 | 15.44 | -35.45 | -34.99 | 0.43 | -96.78 | -98.37 | -10.77 | -183.42 | -169.75 | -0.24 | -128.24 | -122.02 | 0.09 | -88.0 | -87.5 | 0.01 | -75.0 | -75.0 | 36.54 | 37.78 | 19.49 | 68.42 | 0.68 | -11.03 | 0.00 | -100.0 | -100.0 | 0.00 | 100.0 | -100.0 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 39.87 | -15.9 | -7.17 | 23.92 | -5.34 | -24.04 | 13.34 | -42.84 | -60.88 | 12.91 | -38.87 | -61.38 | 0.85 | -35.61 | -85.57 | 0.75 | -31.19 | -76.78 | 0.04 | 33.33 | -55.56 | 26.52 | -44.92 | -25.88 | 67.96 | -13.83 | -9.72 | 178.57 | 64.29 | 93.63 | -78.57 | -803.57 | -1110.2 | 10.36 | -20.25 | 86.33 |
| 19Q4 (4) | 47.41 | 9.47 | 0.0 | 25.27 | -4.32 | 0.0 | 23.34 | 10.51 | 0.0 | 21.12 | 4.76 | 0.0 | 1.32 | -2.22 | 0.0 | 1.09 | 17.2 | 0.0 | 0.03 | -25.0 | 0.0 | 48.15 | 57.97 | 0.0 | 78.87 | 0.48 | 0.0 | 108.70 | -12.26 | 0.0 | -8.70 | 65.73 | 0.0 | 12.99 | 24.78 | 0.0 |
| 19Q3 (3) | 43.31 | -2.48 | 0.0 | 26.41 | 11.2 | 0.0 | 21.12 | -19.7 | 0.0 | 20.16 | 30.57 | 0.0 | 1.35 | 23.85 | 0.0 | 0.93 | 29.17 | 0.0 | 0.04 | 0.0 | 0.0 | 30.48 | -0.33 | 0.0 | 78.49 | 2.07 | 0.0 | 123.88 | 36.59 | 0.0 | -25.37 | -372.76 | 0.0 | 10.41 | 4.62 | 0.0 |
| 19Q2 (2) | 44.41 | 3.4 | 0.0 | 23.75 | -24.58 | 0.0 | 26.30 | -22.87 | 0.0 | 15.44 | -53.81 | 0.0 | 1.09 | -81.49 | 0.0 | 0.72 | -77.71 | 0.0 | 0.04 | -55.56 | 0.0 | 30.58 | -14.53 | 0.0 | 76.90 | 2.15 | 0.0 | 90.70 | -1.65 | 0.0 | 9.30 | 19.6 | 0.0 | 9.95 | 78.96 | 0.0 |
| 19Q1 (1) | 42.95 | 0.0 | 0.0 | 31.49 | 0.0 | 0.0 | 34.10 | 0.0 | 0.0 | 33.43 | 0.0 | 0.0 | 5.89 | 0.0 | 0.0 | 3.23 | 0.0 | 0.0 | 0.09 | 0.0 | 0.0 | 35.78 | 0.0 | 0.0 | 75.28 | 0.0 | 0.0 | 92.22 | 0.0 | 0.0 | 7.78 | 0.0 | 0.0 | 5.56 | 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) | 33.56 | -8.11 | -38.33 | 0 | 26.01 | -10.51 | -107.00 | 0 | -107.14 | 0 | -5.34 | 0 | -1.18 | 0 | 0.02 | -33.33 | -6.28 | 0 | 120.23 | 45.7 | 35.98 | -32.13 | 64.02 | 36.26 | 0.01 | -13.18 | 63.67 | 4.05 |
| 2022 (9) | 36.52 | 10.0 | -38.99 | 0 | 29.06 | 304.35 | -73.71 | 0 | -73.64 | 0 | -3.27 | 0 | -0.98 | 0 | 0.03 | -70.0 | -0.99 | 0 | 82.52 | 19.59 | 53.02 | -72.87 | 46.98 | 0 | 0.01 | -8.62 | 61.19 | 309.85 |
| 2021 (8) | 33.20 | -19.73 | 10.80 | -56.77 | 7.19 | 65.82 | 5.55 | -72.51 | 5.27 | -69.57 | 0.89 | -81.54 | 1.13 | -68.87 | 0.10 | -37.5 | 19.92 | -34.99 | 69.00 | 11.89 | 195.45 | 58.0 | -95.45 | 0 | 0.01 | 2.53 | 14.93 | 50.66 |
| 2020 (7) | 41.36 | -6.13 | 24.98 | -10.88 | 4.33 | 44.3 | 20.19 | -28.96 | 17.32 | -32.08 | 4.82 | -50.36 | 3.63 | -37.63 | 0.16 | -20.0 | 30.64 | -14.6 | 61.67 | -21.81 | 123.70 | 25.49 | -23.70 | 0 | 0.01 | 0 | 9.91 | 15.91 |
| 2019 (6) | 44.06 | 13.67 | 28.03 | -3.11 | 3.00 | 2273.8 | 28.42 | 3.08 | 25.50 | 2.08 | 9.71 | -62.34 | 5.82 | -53.37 | 0.20 | -57.45 | 35.88 | 21.46 | 78.87 | -23.14 | 98.58 | -6.08 | 1.42 | 0 | 0.00 | 0 | 8.55 | 76.65 |
| 2018 (5) | 38.76 | 52.6 | 28.93 | 186.72 | 0.13 | -71.22 | 27.57 | 350.49 | 24.98 | 879.61 | 25.78 | 2969.05 | 12.48 | 1088.57 | 0.47 | 235.71 | 29.54 | 139.97 | 102.61 | -26.57 | 104.96 | -36.11 | -4.96 | 0 | 0.00 | 0 | 4.84 | -42.31 |
| 2017 (4) | 25.40 | -26.89 | 10.09 | 72.77 | 0.44 | -56.76 | 6.12 | 0 | 2.55 | 0 | 0.84 | 0 | 1.05 | 0 | 0.14 | 100.0 | 12.31 | 19.05 | 139.73 | 18.44 | 164.29 | 0 | -64.29 | 0 | 0.00 | 0 | 8.39 | -45.09 |
| 2016 (3) | 34.74 | 16.69 | 5.84 | -70.53 | 1.02 | 558.14 | -0.95 | 0 | -8.70 | 0 | -1.35 | 0 | -0.01 | 0 | 0.07 | -85.42 | 10.34 | -49.88 | 117.98 | 3.99 | -566.67 | 0 | 666.67 | 0 | 0.00 | 0 | 15.28 | 316.35 |
| 2015 (2) | 29.77 | -34.99 | 19.82 | 0 | 0.15 | -99.18 | 18.76 | 0 | 18.40 | 0 | 19.22 | 0 | 9.51 | 0 | 0.48 | 4700.0 | 20.63 | 0 | 113.45 | -7.29 | 105.77 | 12.31 | -5.63 | 0 | 0.00 | 0 | 3.67 | -98.92 |
| 2014 (1) | 45.79 | 0 | -529.01 | 0 | 18.92 | 577.3 | -563.09 | 0 | -564.14 | 0 | -5.66 | 0 | -3.00 | 0 | 0.01 | -85.71 | -505.41 | 0 | 122.37 | 185.78 | 94.17 | -11.66 | 5.83 | 0 | 0.00 | 0 | 339.79 | 680.05 |
