- 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) | 43.60 | -56.4 | 27.97 | 36.18 | 103.91 | 51.89 | 36.15 | 103.44 | 52.6 | 28.62 | 102.81 | 5.41 | 5.35 | 2531.82 | 51.99 | 2.41 | 3112.5 | 31.69 | 0.08 | 0 | 14.29 | 36.51 | 104.56 | 51.37 | 122.21 | -2.48 | 31.18 | 100.14 | 15.16 | -0.49 | -0.14 | -101.09 | 77.42 | 2.36 | -99.74 | -32.95 |
| 23Q3 (19) | 100.00 | 149.5 | 197.27 | -925.95 | -63.69 | -5477.18 | -1050.02 | -82.97 | -5554.65 | -1018.10 | -79.48 | -5687.82 | -0.22 | -22.22 | -157.89 | -0.08 | -14.29 | -138.1 | 0.00 | 0 | -100.0 | -800.00 | -84.62 | -3769.72 | 125.32 | 13.2 | 32.68 | 86.96 | -13.04 | -0.97 | 13.04 | 0 | 33.7 | 919.57 | 44.71 | 11365.96 |
| 23Q2 (18) | 40.08 | -8.85 | 81.93 | -565.69 | -29.11 | -7543.29 | -573.88 | -111.34 | -6711.52 | -567.26 | -92.94 | -7217.44 | -0.18 | -63.64 | -205.88 | -0.07 | -75.0 | -170.0 | 0.00 | 0 | -100.0 | -433.33 | -246.66 | -3962.12 | 110.71 | 5.43 | 19.7 | 100.00 | -35.29 | 12.5 | -0.00 | 100.0 | -100.0 | 635.47 | 57.11 | 7429.27 |
| 23Q1 (17) | 43.97 | 29.06 | 72.5 | -438.16 | -1939.46 | -3727.15 | -271.54 | -1246.22 | -2374.2 | -294.01 | -1182.91 | -2690.4 | -0.11 | -103.12 | -136.67 | -0.04 | -102.19 | -123.53 | 0.00 | -100.0 | -100.0 | -125.00 | -618.24 | -978.43 | 105.01 | 12.72 | 6.49 | 154.55 | 53.58 | 49.22 | -54.55 | -8545.45 | 0 | 404.47 | 11390.63 | 6279.65 |
| 22Q4 (16) | 34.07 | 1.28 | -65.93 | 23.82 | 38.33 | 101.46 | 23.69 | 23.06 | 102.15 | 27.15 | 49.01 | 102.39 | 3.52 | 826.32 | 1273.33 | 1.83 | 771.43 | 1015.0 | 0.07 | 600.0 | 0 | 24.12 | 10.64 | 101.42 | 93.16 | -1.37 | -9.92 | 100.63 | 14.61 | -32.01 | -0.63 | -106.47 | 98.69 | 3.52 | -56.11 | -99.68 |
| 22Q3 (15) | 33.64 | 52.7 | -66.36 | 17.22 | 126.58 | 102.14 | 19.25 | 121.77 | 101.0 | 18.22 | 128.61 | 100.92 | 0.38 | 123.53 | 167.86 | 0.21 | 110.0 | 261.54 | 0.01 | 0.0 | 0 | 21.80 | 94.3 | 103.11 | 94.45 | 2.12 | -4.46 | 87.80 | -1.22 | 111.76 | 9.76 | -12.2 | -83.33 | 8.02 | -4.98 | -98.75 |
| 22Q2 (14) | 22.03 | -13.57 | -77.97 | 7.60 | -37.09 | 100.95 | 8.68 | -27.3 | 100.57 | 7.97 | -29.78 | 100.52 | 0.17 | -43.33 | 134.0 | 0.10 | -41.18 | 166.67 | 0.01 | 0.0 | 0 | 11.22 | -21.15 | 101.6 | 92.49 | -6.21 | -30.39 | 88.89 | -14.18 | 67.32 | 11.11 | 0 | -76.3 | 8.44 | 33.12 | -98.56 |
| 22Q1 (13) | 25.49 | -74.51 | -74.51 | 12.08 | 100.74 | 101.69 | 11.94 | 101.08 | 101.29 | 11.35 | 101.0 | 101.23 | 0.30 | 200.0 | 193.75 | 0.17 | 185.0 | 200.0 | 0.01 | 0 | 0 | 14.23 | 100.84 | 102.19 | 98.61 | -4.65 | 64.79 | 103.57 | -30.02 | 29.46 | 0.00 | 100.0 | -100.0 | 6.34 | -99.42 | -98.71 |
| 21Q4 (12) | 100.00 | 0.0 | 220.82 | -1630.01 | -102.98 | -3203.63 | -1103.96 | 42.85 | -1720.81 | -1137.76 | 42.43 | -1742.82 | -0.30 | 46.43 | 51.61 | -0.20 | -53.85 | 45.95 | 0.00 | 0 | -100.0 | -1700.00 | -142.86 | -3447.58 | 103.42 | 4.61 | 196.76 | 148.00 | 256.94 | 78.83 | -48.00 | -182.0 | -378.4 | 1092.03 | 70.85 | 2555.07 |
| 21Q3 (11) | 100.00 | 0.0 | 469.8 | -803.02 | -0.43 | -1719.67 | -1931.81 | -26.11 | -2669.62 | -1976.39 | -29.02 | -2679.34 | -0.56 | -12.0 | 25.33 | -0.13 | 13.33 | 67.5 | 0.00 | 0 | -100.0 | -700.00 | 0.0 | -1189.37 | 98.86 | -25.59 | 55.59 | 41.46 | -21.95 | -33.66 | 58.54 | 24.88 | 56.1 | 639.16 | 8.75 | 1469.26 |
| 21Q2 (10) | 100.00 | 0.0 | 0.0 | -799.62 | -11.7 | -16.33 | -1531.87 | -65.34 | -86.02 | -1531.87 | -65.34 | -86.02 | -0.50 | -56.25 | 1.96 | -0.15 | 11.76 | 42.31 | 0.00 | 0 | 0 | -700.00 | -7.69 | -27.27 | 132.86 | 122.03 | 133.05 | 53.12 | -33.59 | -35.49 | 46.88 | 87.5 | 165.62 | 587.75 | 19.56 | 0 |
| 21Q1 (9) | 100.00 | 220.82 | 0.0 | -715.84 | -1350.83 | -48.04 | -926.47 | -1428.07 | 15.44 | -926.47 | -1400.6 | 15.44 | -0.32 | 48.39 | 55.56 | -0.17 | 54.05 | 57.5 | 0.00 | -100.0 | 0 | -650.00 | -1256.43 | 31.58 | 59.84 | 71.71 | 9.22 | 80.00 | -3.33 | 74.55 | 25.00 | 45.0 | -57.14 | 491.58 | 1095.19 | 15.64 |
| 20Q4 (8) | 31.17 | 77.61 | -68.83 | -49.34 | -11.81 | 95.99 | -60.63 | 13.08 | 95.89 | -61.74 | 13.18 | 95.98 | -0.62 | 17.33 | 38.61 | -0.37 | 7.5 | 38.33 | 0.01 | 0.0 | 0 | -47.92 | 11.73 | 96.45 | 34.85 | -45.15 | -33.92 | 82.76 | 32.41 | 1.15 | 17.24 | -54.02 | 13.79 | 41.13 | 0.98 | 0 |
| 20Q3 (7) | 17.55 | -82.45 | -82.45 | -44.13 | 93.58 | 93.26 | -69.75 | 91.53 | 90.36 | -71.11 | 91.36 | 90.19 | -0.75 | -47.06 | -78.57 | -0.40 | -53.85 | -81.82 | 0.01 | 0 | 0 | -54.29 | 90.13 | 87.94 | 63.54 | 11.45 | 28.05 | 62.50 | -24.11 | -32.69 | 37.50 | 112.5 | 425.0 | 40.73 | 0 | -92.45 |
| 20Q2 (6) | 100.00 | 0.0 | 0.0 | -687.35 | -42.15 | 3.21 | -823.48 | 24.84 | -12.54 | -823.48 | 24.84 | -12.33 | -0.51 | 29.17 | -18.6 | -0.26 | 35.0 | -44.44 | 0.00 | 0 | 0 | -550.00 | 42.11 | -57.14 | 57.01 | 4.05 | 23.11 | 82.35 | 79.68 | -11.76 | 17.65 | -69.75 | 0 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 100.00 | 0.0 | 94.21 | -483.54 | 60.7 | -44.52 | -1095.62 | 25.69 | -264.71 | -1095.62 | 28.7 | -264.71 | -0.72 | 28.71 | -111.76 | -0.40 | 33.33 | -233.33 | 0.00 | 0 | 0 | -950.00 | 29.63 | -850.0 | 54.79 | 3.89 | 21.7 | 45.83 | -43.98 | -57.69 | 58.33 | 285.0 | 800.0 | 425.08 | 0 | 64.07 |
| 19Q4 (4) | 100.00 | 0.0 | 0.0 | -1230.35 | -88.05 | 0.0 | -1474.32 | -103.84 | 0.0 | -1536.60 | -111.99 | 0.0 | -1.01 | -140.48 | 0.0 | -0.60 | -172.73 | 0.0 | 0.00 | 0 | 0.0 | -1350.00 | -200.0 | 0.0 | 52.74 | 6.29 | 0.0 | 81.82 | -11.89 | 0.0 | 15.15 | 112.12 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 100.00 | 0.0 | 0.0 | -654.27 | 7.86 | 0.0 | -723.27 | 1.16 | 0.0 | -724.84 | 1.12 | 0.0 | -0.42 | 2.33 | 0.0 | -0.22 | -22.22 | 0.0 | 0.00 | 0 | 0.0 | -450.00 | -28.57 | 0.0 | 49.62 | 7.15 | 0.0 | 92.86 | -0.51 | 0.0 | 7.14 | 0 | 0.0 | 539.68 | -3.8 | 0.0 |
| 19Q2 (2) | 100.00 | 94.21 | 0.0 | -710.12 | -112.24 | 0.0 | -731.74 | -143.58 | 0.0 | -733.07 | -144.02 | 0.0 | -0.43 | -26.47 | 0.0 | -0.18 | -50.0 | 0.0 | 0.00 | 0 | 0.0 | -350.00 | -250.0 | 0.0 | 46.31 | 2.87 | 0.0 | 93.33 | -13.85 | 0.0 | 0.00 | 100.0 | 0.0 | 560.98 | 116.53 | 0.0 |
| 19Q1 (1) | 51.49 | 0.0 | 0.0 | -334.58 | 0.0 | 0.0 | -300.41 | 0.0 | 0.0 | -300.41 | 0.0 | 0.0 | -0.34 | 0.0 | 0.0 | -0.12 | 0.0 | 0.0 | 0.00 | 0.0 | 0.0 | -100.00 | 0.0 | 0.0 | 45.02 | 0.0 | 0.0 | 108.33 | 0.0 | 0.0 | -8.33 | 0.0 | 0.0 | 259.08 | 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) | 43.66 | 37.47 | 33.15 | 65.42 | 0.31 | 2.2 | 33.30 | 64.28 | 25.81 | 15.53 | 4.75 | 2.15 | 2.36 | -2.48 | 0.09 | -18.18 | 34.60 | 61.99 | 122.21 | 31.18 | 99.54 | 0.53 | 0.46 | -62.71 | 0.05 | -14.37 | 5.26 | 8.68 |
| 2022 (9) | 31.76 | -68.24 | 20.04 | 0 | 0.30 | -99.46 | 20.27 | 0 | 22.34 | 0 | 4.65 | 0 | 2.42 | 0 | 0.11 | 0 | 21.36 | 0 | 93.16 | -9.92 | 99.01 | 35.43 | 1.24 | -95.4 | 0.05 | -13.5 | 4.84 | -99.32 |
| 2021 (8) | 100.00 | 243.64 | -997.90 | 0 | 55.56 | 866.67 | -1363.05 | 0 | -1382.81 | 0 | -1.60 | 0 | -0.69 | 0 | 0.00 | 0 | -833.33 | 0 | 103.42 | 196.76 | 73.11 | 8.52 | 26.89 | -17.59 | 0.06 | 0 | 708.69 | 1046.19 |
| 2020 (7) | 29.10 | -64.19 | -73.18 | 0 | 5.75 | -85.63 | -108.34 | 0 | -109.49 | 0 | -1.96 | 0 | -1.18 | 0 | 0.01 | 0 | -82.76 | 0 | 34.85 | -33.92 | 67.37 | -26.69 | 32.63 | 302.46 | 0.00 | 0 | 61.83 | -87.67 |
| 2019 (6) | 81.27 | 397.37 | -668.15 | 0 | 40.00 | 16060.0 | -726.15 | 0 | -740.35 | 0 | -2.19 | 0 | -1.11 | 0 | 0.00 | 0 | -470.00 | 0 | 52.74 | 11.97 | 91.89 | -52.7 | 8.11 | 0 | 0.00 | 0 | 501.61 | 11326.2 |
| 2018 (5) | 16.34 | -0.79 | 5.62 | 0 | 0.25 | -94.31 | 2.86 | 0 | 1.66 | 0 | 0.58 | 0 | 0.82 | 0 | 0.22 | 2100.0 | 5.61 | 0 | 47.10 | -28.35 | 194.29 | 116.07 | -97.14 | 0 | 0.00 | 0 | 4.39 | -95.73 |
| 2017 (4) | 16.47 | -47.25 | -154.81 | 0 | 4.35 | 3317.39 | -172.17 | 0 | -179.92 | 0 | -3.43 | 0 | -1.54 | 0 | 0.01 | -97.06 | -113.04 | 0 | 65.74 | 2.51 | 89.92 | -18.02 | 10.08 | 0 | 0.00 | 0 | 102.73 | 3150.95 |
| 2016 (3) | 31.22 | 6.63 | 22.08 | -1.65 | 0.13 | 36.56 | 20.16 | -9.96 | 17.65 | -17.02 | 10.92 | -45.86 | 6.42 | -28.67 | 0.34 | -15.0 | 21.63 | -8.58 | 64.13 | -34.14 | 109.68 | 9.38 | -9.47 | 0 | 0.00 | 0 | 3.16 | 21.54 |
| 2015 (2) | 29.28 | -47.5 | 22.45 | 0 | 0.09 | -99.69 | 22.39 | 0 | 21.27 | 0 | 20.17 | 0 | 9.00 | 0 | 0.40 | 0 | 23.66 | 0 | 97.38 | -46.48 | 100.28 | 44.93 | -0.28 | 0 | 0.00 | 0 | 2.60 | -99.54 |
| 2014 (1) | 55.77 | 0 | -1295.91 | 0 | 30.00 | 8945.0 | -1877.43 | 0 | -1879.21 | 0 | -6.04 | 0 | -1.95 | 0 | 0.00 | 0 | -1520.00 | 0 | 181.96 | 16.6 | 69.19 | 101.8 | 30.81 | -55.07 | 0.00 | 0 | 570.94 | 6705.01 |
