- 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) | 8.94 | 24.17 | -35.08 | 5.30 | 13.01 | -45.42 | 4.48 | 17.28 | -30.0 | 3.96 | 29.41 | -20.8 | 0.89 | 30.88 | -11.0 | 0.48 | 23.08 | -18.64 | 0.10 | 0.0 | 0.0 | 6.66 | 14.04 | -22.2 | 140.57 | 8.88 | 41.9 | 118.70 | -3.12 | -21.68 | -18.26 | 18.89 | 64.58 | 12.69 | -1.25 | 6.82 |
| 23Q3 (19) | 7.20 | -18.46 | 4.65 | 4.69 | -16.4 | 20.88 | 3.82 | -19.41 | 34.98 | 3.06 | -11.3 | 28.03 | 0.68 | -8.11 | 54.55 | 0.39 | -11.36 | 34.48 | 0.10 | 0.0 | 11.11 | 5.84 | -13.22 | 17.27 | 129.10 | 5.53 | 18.3 | 122.51 | 3.6 | -10.83 | -22.51 | -23.29 | 38.36 | 12.85 | 2.64 | -6.14 |
| 23Q2 (18) | 8.83 | 27.6 | 13.06 | 5.61 | 46.09 | 139.74 | 4.74 | 44.51 | -6.51 | 3.45 | 33.72 | 93.82 | 0.74 | 64.44 | 236.36 | 0.44 | 41.94 | 158.82 | 0.10 | 11.11 | 66.67 | 6.73 | 22.36 | -14.92 | 122.33 | 13.84 | 6.23 | 118.26 | 1.26 | 158.02 | -18.26 | -8.74 | -134.15 | 12.52 | -17.2 | -36.12 |
| 23Q1 (17) | 6.92 | -49.75 | -0.29 | 3.84 | -60.45 | 23.47 | 3.28 | -48.75 | -73.38 | 2.58 | -48.4 | -78.01 | 0.45 | -55.0 | -75.81 | 0.31 | -47.46 | -68.04 | 0.09 | -10.0 | 12.5 | 5.50 | -35.75 | -61.94 | 107.46 | 8.48 | 5.6 | 116.79 | -22.94 | 360.07 | -16.79 | 67.43 | -122.44 | 15.12 | 27.27 | -2.83 |
| 22Q4 (16) | 13.77 | 100.15 | 216.01 | 9.71 | 150.26 | 155.33 | 6.40 | 126.15 | -85.56 | 5.00 | 109.21 | -89.93 | 1.00 | 127.27 | -90.89 | 0.59 | 103.45 | -88.63 | 0.10 | 11.11 | 0.0 | 8.56 | 71.89 | -81.4 | 99.06 | -9.23 | -9.72 | 151.56 | 10.31 | 482.86 | -51.56 | -41.17 | -136.94 | 11.88 | -13.22 | -10.54 |
| 22Q3 (15) | 6.88 | -11.91 | -20.74 | 3.88 | 65.81 | -24.81 | 2.83 | -44.18 | -22.25 | 2.39 | 34.27 | -16.72 | 0.44 | 100.0 | -32.31 | 0.29 | 70.59 | -23.68 | 0.09 | 50.0 | -18.18 | 4.98 | -37.04 | -7.43 | 109.13 | -5.24 | -8.72 | 137.39 | 199.76 | -2.92 | -36.52 | -168.3 | 12.04 | 13.69 | -30.15 | 20.51 |
| 22Q2 (14) | 7.81 | 12.54 | 28.45 | 2.34 | -24.76 | -5.26 | 5.07 | -58.85 | 153.5 | 1.78 | -84.83 | 4.71 | 0.22 | -88.17 | -31.25 | 0.17 | -82.47 | -22.73 | 0.06 | -25.0 | -33.33 | 7.91 | -45.26 | 100.76 | 115.16 | 13.17 | 3.43 | 45.83 | 80.54 | -62.76 | 53.47 | -28.55 | 331.71 | 19.60 | 25.96 | 51.12 |
| 22Q1 (13) | 6.94 | 158.47 | 0.43 | 3.11 | 117.72 | -16.84 | 12.32 | -72.21 | 335.34 | 11.73 | -76.38 | 433.18 | 1.86 | -83.06 | 353.66 | 0.97 | -81.31 | 259.26 | 0.08 | -20.0 | -11.11 | 14.45 | -68.61 | 204.85 | 101.76 | -7.26 | -1.38 | 25.39 | 164.13 | -80.78 | 74.83 | -46.39 | 333.06 | 15.56 | 17.17 | 12.84 |
| 21Q4 (12) | -11.87 | -236.75 | -297.83 | -17.55 | -440.12 | -1210.76 | 44.33 | 1117.86 | 508.09 | 49.67 | 1630.66 | 828.41 | 10.98 | 1589.23 | 998.0 | 5.19 | 1265.79 | 843.64 | 0.10 | -9.09 | 11.11 | 46.03 | 755.58 | 391.77 | 109.73 | -8.22 | 3.27 | -39.59 | -127.97 | -282.09 | 139.59 | 436.18 | 78.36 | 13.28 | 16.9 | -3.77 |
| 21Q3 (11) | 8.68 | 42.76 | 2.0 | 5.16 | 108.91 | 10.73 | 3.64 | 82.0 | -23.37 | 2.87 | 68.82 | -22.22 | 0.65 | 103.12 | 1.56 | 0.38 | 72.73 | 2.7 | 0.11 | 22.22 | 37.5 | 5.38 | 36.55 | -24.54 | 119.56 | 7.38 | 3.37 | 141.52 | 14.99 | 44.19 | -41.52 | -79.92 | -2342.11 | 11.36 | -12.41 | -20.11 |
| 21Q2 (10) | 6.08 | -12.01 | 6.67 | 2.47 | -33.96 | 41.95 | 2.00 | -29.33 | -79.92 | 1.70 | -22.73 | -78.48 | 0.32 | -21.95 | -76.64 | 0.22 | -18.52 | -69.01 | 0.09 | 0.0 | 12.5 | 3.94 | -16.88 | -68.35 | 111.34 | 7.91 | -6.46 | 123.08 | -6.84 | 607.17 | -23.08 | 28.13 | -127.94 | 12.97 | -5.95 | 0 |
| 21Q1 (9) | 6.91 | 15.17 | -15.42 | 3.74 | 136.71 | 10.65 | 2.83 | -61.18 | 405.36 | 2.20 | -58.88 | 5400.0 | 0.41 | -59.0 | 4000.0 | 0.27 | -50.91 | 200.0 | 0.09 | 0.0 | 28.57 | 4.74 | -49.36 | 26.74 | 103.18 | -2.9 | -10.36 | 132.11 | 507.71 | -78.21 | -32.11 | -141.03 | 93.66 | 13.79 | -0.07 | 0 |
| 20Q4 (8) | 6.00 | -29.49 | -25.83 | 1.58 | -66.09 | -42.55 | 7.29 | 53.47 | 107.69 | 5.35 | 44.99 | 80.74 | 1.00 | 56.25 | 100.0 | 0.55 | 48.65 | 61.76 | 0.09 | 12.5 | 12.5 | 9.36 | 31.28 | 43.78 | 106.26 | -8.13 | -8.29 | 21.74 | -77.85 | -72.18 | 78.26 | 4126.09 | 258.19 | 13.80 | -2.95 | -19.58 |
| 20Q3 (7) | 8.51 | 49.3 | 10.09 | 4.66 | 167.82 | 90.2 | 4.75 | -52.31 | 316.67 | 3.69 | -53.29 | 536.21 | 0.64 | -53.28 | 611.11 | 0.37 | -47.89 | 164.29 | 0.08 | 0.0 | 14.29 | 7.13 | -42.73 | 68.96 | 115.66 | -2.83 | 1.0 | 98.15 | 463.94 | -54.11 | 1.85 | -97.76 | 101.63 | 14.22 | 0 | -19.52 |
| 20Q2 (6) | 5.70 | -30.23 | -46.63 | 1.74 | -48.52 | -56.5 | 9.96 | 1678.57 | 260.87 | 7.90 | 19650.0 | 348.86 | 1.37 | 13600.0 | 470.83 | 0.71 | 688.89 | 238.1 | 0.08 | 14.29 | 14.29 | 12.45 | 232.89 | 103.76 | 119.03 | 3.41 | 8.24 | 17.40 | -97.13 | -88.02 | 82.60 | 116.32 | 282.2 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 8.17 | 0.99 | -32.14 | 3.38 | 22.91 | -51.71 | 0.56 | -84.05 | -90.11 | 0.04 | -98.65 | -99.06 | 0.01 | -98.0 | -98.57 | 0.09 | -73.53 | -80.0 | 0.07 | -12.5 | -12.5 | 3.74 | -42.55 | -55.9 | 115.11 | -0.65 | 17.02 | 606.25 | 675.74 | 389.16 | -506.25 | -2417.07 | -2015.0 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 8.09 | 4.66 | 0.0 | 2.75 | 12.24 | 0.0 | 3.51 | 207.89 | 0.0 | 2.96 | 410.34 | 0.0 | 0.50 | 455.56 | 0.0 | 0.34 | 142.86 | 0.0 | 0.08 | 14.29 | 0.0 | 6.51 | 54.27 | 0.0 | 115.86 | 1.18 | 0.0 | 78.15 | -63.46 | 0.0 | 21.85 | 119.18 | 0.0 | 17.16 | -2.89 | 0.0 |
| 19Q3 (3) | 7.73 | -27.62 | 0.0 | 2.45 | -38.75 | 0.0 | 1.14 | -58.7 | 0.0 | 0.58 | -67.05 | 0.0 | 0.09 | -62.5 | 0.0 | 0.14 | -33.33 | 0.0 | 0.07 | 0.0 | 0.0 | 4.22 | -30.93 | 0.0 | 114.51 | 4.13 | 0.0 | 213.89 | 47.17 | 0.0 | -113.89 | -151.23 | 0.0 | 17.67 | -13.38 | 0.0 |
| 19Q2 (2) | 10.68 | -11.3 | 0.0 | 4.00 | -42.86 | 0.0 | 2.76 | -51.24 | 0.0 | 1.76 | -58.49 | 0.0 | 0.24 | -65.71 | 0.0 | 0.21 | -53.33 | 0.0 | 0.07 | -12.5 | 0.0 | 6.11 | -27.95 | 0.0 | 109.97 | 11.79 | 0.0 | 145.33 | 17.26 | 0.0 | -45.33 | -89.39 | 0.0 | 20.40 | 6.86 | 0.0 |
| 19Q1 (1) | 12.04 | 0.0 | 0.0 | 7.00 | 0.0 | 0.0 | 5.66 | 0.0 | 0.0 | 4.24 | 0.0 | 0.0 | 0.70 | 0.0 | 0.0 | 0.45 | 0.0 | 0.0 | 0.08 | 0.0 | 0.0 | 8.48 | 0.0 | 0.0 | 98.37 | 0.0 | 0.0 | 123.94 | 0.0 | 0.0 | -23.94 | 0.0 | 0.0 | 19.09 | 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) | 8.03 | -12.05 | 4.91 | -4.47 | 0.88 | -17.41 | 4.12 | -37.86 | 3.30 | -38.09 | 2.72 | -22.95 | 1.60 | -21.57 | 0.37 | 15.62 | 6.22 | -30.19 | 140.57 | 41.9 | 119.33 | 53.93 | -19.21 | 0 | 0.00 | 0 | 13.20 | -10.33 |
| 2022 (9) | 9.13 | 361.11 | 5.14 | 0 | 1.06 | 13.23 | 6.63 | -53.99 | 5.33 | -65.57 | 3.53 | -71.25 | 2.04 | -66.94 | 0.32 | -15.79 | 8.91 | -45.07 | 99.06 | -9.72 | 77.52 | 0 | 22.48 | -80.37 | 0.00 | 0 | 14.72 | 15.0 |
| 2021 (8) | 1.98 | -71.79 | -2.09 | 0 | 0.94 | -23.1 | 14.41 | 144.65 | 15.48 | 247.87 | 12.28 | 314.86 | 6.17 | 258.72 | 0.38 | 18.75 | 16.22 | 93.79 | 109.73 | 3.27 | -14.49 | 0 | 114.49 | 117.2 | 0.00 | 0 | 12.80 | -15.12 |
| 2020 (7) | 7.02 | -26.88 | 2.78 | -31.7 | 1.22 | -15.31 | 5.89 | 77.41 | 4.45 | 81.63 | 2.96 | 92.21 | 1.72 | 52.21 | 0.32 | 6.67 | 8.37 | 31.6 | 106.26 | -8.29 | 47.29 | -61.39 | 52.71 | 0 | 0.00 | 0 | 15.08 | -18.49 |
| 2019 (6) | 9.60 | 0.73 | 4.07 | 27.59 | 1.44 | 24.23 | 3.32 | 63.55 | 2.45 | -23.91 | 1.54 | -13.48 | 1.13 | 8.65 | 0.30 | 7.14 | 6.36 | 70.51 | 115.86 | 17.02 | 122.49 | -21.93 | -22.73 | 0 | 0.10 | -60.29 | 18.50 | -11.82 |
| 2018 (5) | 9.53 | -18.69 | 3.19 | -19.24 | 1.16 | -19.72 | 2.03 | -46.01 | 3.22 | 16.67 | 1.78 | 30.88 | 1.04 | 20.93 | 0.28 | 12.0 | 3.73 | -37.31 | 99.01 | 10.13 | 156.89 | 49.19 | -56.89 | 0 | 0.26 | -15.23 | 20.98 | -18.49 |
| 2017 (4) | 11.72 | 7.82 | 3.95 | 55.51 | 1.44 | -27.52 | 3.76 | -10.69 | 2.76 | -3.5 | 1.36 | -0.73 | 0.86 | 1.18 | 0.25 | 0.0 | 5.95 | -13.27 | 89.90 | -8.2 | 105.16 | 74.54 | -5.16 | 0 | 0.30 | 0 | 25.74 | -2.72 |
| 2016 (3) | 10.87 | -17.78 | 2.54 | -64.82 | 1.99 | 44.38 | 4.21 | 20.98 | 2.86 | -15.88 | 1.37 | -49.07 | 0.85 | -43.71 | 0.25 | -40.48 | 6.86 | 33.98 | 97.93 | 13.24 | 60.25 | -70.99 | 39.75 | 0 | 0.00 | 0 | 26.46 | 68.43 |
| 2015 (2) | 13.22 | 54.98 | 7.22 | 147.26 | 1.38 | 1.29 | 3.48 | 35.94 | 3.40 | -11.46 | 2.69 | -1.1 | 1.51 | -2.58 | 0.42 | 16.67 | 5.12 | 15.06 | 86.48 | -5.96 | 207.71 | 82.13 | -107.71 | 0 | 0.00 | 0 | 15.71 | -3.68 |
| 2014 (1) | 8.53 | 0 | 2.92 | 0 | 1.36 | 20.72 | 2.56 | 0 | 3.84 | 0 | 2.72 | 0 | 1.55 | 0 | 0.36 | -2.7 | 4.45 | 19.95 | 91.96 | -7.74 | 114.04 | 23.06 | -14.33 | 0 | 0.00 | 0 | 16.31 | 2.26 |
