- 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) | 27.29 | -6.16 | -29.26 | 5.83 | -58.24 | 178.05 | -0.81 | 65.38 | 98.55 | -1.25 | 58.33 | 97.6 | -0.06 | 50.0 | 92.68 | 0.10 | 0.0 | 350.0 | 0.01 | 0.0 | 0 | 13.76 | -14.8 | 793.51 | 286.98 | 1.76 | 8.67 | -550.00 | 0.0 | -4170.0 | 650.00 | 0.0 | 651.56 | 5.62 | -11.36 | -62.9 |
| 23Q3 (19) | 29.08 | 44.32 | -17.01 | 13.96 | 721.18 | -37.0 | -2.34 | 89.1 | -123.45 | -3.00 | 78.53 | -137.27 | -0.12 | 73.91 | -124.0 | 0.10 | 66.67 | -66.67 | 0.01 | 0.0 | -50.0 | 16.15 | 116.49 | -27.61 | 282.02 | 2.04 | 10.12 | -550.00 | -7875.0 | -346.55 | 650.00 | 508.06 | 628.12 | 6.34 | -15.92 | 64.68 |
| 23Q2 (18) | 20.15 | -35.6 | -16.84 | 1.70 | -32.27 | -87.68 | -21.46 | 59.75 | -386.52 | -13.97 | 74.56 | -816.41 | -0.46 | 44.58 | -387.5 | 0.06 | 250.0 | -66.67 | 0.01 | 0 | -50.0 | 7.46 | -22.93 | -50.13 | 276.37 | 4.67 | 11.57 | -6.90 | -13.79 | -103.72 | 106.90 | 0.79 | 225.49 | 7.54 | -53.14 | 117.29 |
| 23Q1 (17) | 31.29 | -18.9 | 46.63 | 2.51 | 133.6 | -82.63 | -53.32 | 4.77 | -593.25 | -54.92 | -5.39 | -751.48 | -0.83 | -1.22 | -143.23 | -0.04 | 0.0 | -105.19 | 0.00 | 0 | -100.0 | 9.68 | 528.57 | -34.86 | 264.03 | -0.02 | 14.67 | -6.06 | -144.85 | -104.55 | 106.06 | 22.63 | 418.18 | 16.09 | 6.2 | 1166.93 |
| 22Q4 (16) | 38.58 | 10.1 | 28.51 | -7.47 | -133.71 | -138.76 | -55.99 | -661.02 | -421.23 | -52.11 | -747.33 | -485.43 | -0.82 | -264.0 | -163.57 | -0.04 | -113.33 | -108.0 | 0.00 | -100.0 | -100.0 | 1.54 | -93.1 | -93.08 | 264.08 | 3.12 | 8.57 | 13.51 | -93.94 | -87.85 | 86.49 | 170.27 | 867.57 | 15.15 | 293.51 | 339.13 |
| 22Q3 (15) | 35.04 | 44.61 | 13.43 | 22.16 | 60.58 | -11.15 | 9.98 | 33.24 | -58.33 | 8.05 | 312.82 | -64.33 | 0.50 | 212.5 | -94.68 | 0.30 | 66.67 | -90.26 | 0.02 | 0.0 | -84.62 | 22.31 | 49.13 | -11.22 | 256.10 | 3.38 | 26.66 | 223.08 | 20.46 | 114.26 | -123.08 | -44.48 | -2890.05 | 3.85 | 10.95 | 116.29 |
| 22Q2 (14) | 24.23 | 13.54 | -22.46 | 13.80 | -4.5 | -11.42 | 7.49 | -30.71 | 76.65 | 1.95 | -76.87 | -54.01 | 0.16 | -91.67 | -23.81 | 0.18 | -76.62 | -14.29 | 0.02 | -71.43 | 0.0 | 14.96 | 0.67 | -12.0 | 247.72 | 7.58 | 7.34 | 185.19 | 38.89 | -52.21 | -85.19 | -155.56 | 70.37 | 3.47 | 173.23 | -28.89 |
| 22Q1 (13) | 21.34 | -28.91 | 271.13 | 14.45 | -25.01 | 102.58 | 10.81 | -37.98 | 100.94 | 8.43 | -37.65 | 100.74 | 1.92 | 48.84 | 304.26 | 0.77 | 54.0 | 527.78 | 0.07 | 133.33 | 0 | 14.86 | -33.21 | 102.79 | 230.26 | -5.34 | 5.84 | 133.33 | 19.83 | 181.48 | -33.33 | -195.83 | -166.67 | 1.27 | -63.19 | -99.63 |
| 21Q4 (12) | 30.02 | -2.82 | 18.7 | 19.27 | -22.73 | 100.24 | 17.43 | -27.22 | 100.14 | 13.52 | -40.1 | 100.11 | 1.29 | -86.28 | 221.7 | 0.50 | -83.77 | 308.33 | 0.03 | -76.92 | 0 | 22.25 | -11.46 | 0 | 243.24 | 20.3 | 19.49 | 111.27 | 6.87 | 70.88 | -11.27 | -173.74 | -132.3 | 3.45 | 93.82 | -99.91 |
| 21Q3 (11) | 30.89 | -1.15 | 107.59 | 24.94 | 60.08 | 398.68 | 23.95 | 464.86 | 178.27 | 22.57 | 432.31 | 173.37 | 9.40 | 4376.19 | 2143.48 | 3.08 | 1366.67 | 4500.0 | 0.13 | 550.0 | 1200.0 | 25.13 | 47.82 | 1660.87 | 202.19 | -12.39 | 15.29 | 104.12 | -73.13 | 295.64 | -4.12 | 98.57 | -105.59 | 1.78 | -63.52 | -83.56 |
| 21Q2 (10) | 31.25 | 443.48 | 27.55 | 15.58 | 102.79 | -17.87 | 4.24 | 100.37 | -77.55 | 4.24 | 100.37 | -77.03 | 0.21 | 122.34 | -95.86 | 0.21 | 216.67 | -90.71 | 0.02 | 0 | -83.33 | 17.00 | 103.19 | -12.05 | 230.78 | 6.08 | 92.77 | 387.50 | 718.06 | 285.64 | -287.50 | -675.0 | -59412.5 | 4.88 | -98.57 | 0 |
| 21Q1 (9) | 5.75 | -77.26 | -72.5 | -559.01 | 93.04 | -5025.2 | -1144.02 | 90.85 | -9996.37 | -1144.02 | 90.85 | -10233.04 | -0.94 | 11.32 | -201.08 | -0.18 | 25.0 | -141.86 | 0.00 | 0 | -100.0 | -533.33 | 0 | -4137.32 | 217.56 | 6.88 | 62.97 | 47.37 | -27.26 | -51.32 | 50.00 | 43.33 | 1750.0 | 341.39 | -90.91 | 8860.37 |
| 20Q4 (8) | 25.29 | 69.96 | 433.54 | -8027.91 | -96042.63 | -13151.75 | -12503.50 | -40761.11 | -2815.11 | -12503.50 | -40548.57 | -2829.32 | -1.06 | -130.43 | 75.0 | -0.24 | -242.86 | 87.63 | 0.00 | -100.0 | 0 | 0.00 | 100.0 | 100.0 | 203.56 | 16.07 | 57.76 | 65.12 | 147.44 | 355.81 | 34.88 | -52.66 | -59.3 | 3756.69 | 34587.81 | 0 |
| 20Q3 (7) | 14.88 | -39.27 | 124.1 | -8.35 | -144.02 | 70.13 | -30.60 | -261.99 | 23.31 | -30.76 | -266.63 | 24.05 | -0.46 | -109.07 | 78.1 | -0.07 | -103.1 | 93.07 | 0.01 | -91.67 | -66.67 | -1.61 | -108.33 | 95.81 | 175.37 | 46.48 | 60.95 | 26.32 | -73.81 | -62.53 | 73.68 | 15352.63 | 147.58 | 10.83 | 0 | 246.01 |
| 20Q2 (6) | 24.50 | 17.17 | 199.51 | 18.97 | 67.14 | 1856.48 | 18.89 | 63.41 | 637.89 | 18.46 | 63.51 | 1309.16 | 5.07 | 445.16 | 4970.0 | 2.26 | 425.58 | 2160.0 | 0.12 | 200.0 | 200.0 | 19.33 | 46.33 | 264.72 | 119.72 | -10.32 | 14.81 | 100.48 | 3.27 | 367.95 | -0.48 | -117.87 | -100.35 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 20.91 | 341.14 | 141.73 | 11.35 | 118.74 | 333.06 | 11.56 | 102.7 | 322.74 | 11.29 | 102.65 | 269.01 | 0.93 | 121.93 | 344.74 | 0.43 | 122.16 | 490.91 | 0.04 | 0 | 33.33 | 13.21 | 103.1 | 1672.62 | 133.50 | 3.46 | 28.08 | 97.30 | 581.08 | -2.7 | 2.70 | -96.85 | -67.57 | 3.81 | 0 | -9.07 |
| 19Q4 (4) | 4.74 | -28.61 | 0.0 | -60.58 | -116.74 | 0.0 | -428.92 | -974.99 | 0.0 | -426.84 | -953.93 | 0.0 | -4.24 | -101.9 | 0.0 | -1.94 | -92.08 | 0.0 | 0.00 | -100.0 | 0.0 | -425.64 | -1008.73 | 0.0 | 129.03 | 18.42 | 0.0 | 14.29 | -79.66 | 0.0 | 85.71 | 188.0 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 6.64 | -18.83 | 0.0 | -27.95 | -2487.96 | 0.0 | -39.90 | -1658.59 | 0.0 | -40.50 | -3191.6 | 0.0 | -2.10 | -2200.0 | 0.0 | -1.01 | -1110.0 | 0.0 | 0.03 | -25.0 | 0.0 | -38.39 | -824.34 | 0.0 | 108.96 | 4.49 | 0.0 | 70.24 | 287.3 | 0.0 | 29.76 | -78.35 | 0.0 | 3.13 | 42.92 | 0.0 |
| 19Q2 (2) | 8.18 | -5.43 | 0.0 | -1.08 | 77.82 | 0.0 | 2.56 | 149.33 | 0.0 | 1.31 | 119.61 | 0.0 | 0.10 | 126.32 | 0.0 | 0.10 | 190.91 | 0.0 | 0.04 | 33.33 | 0.0 | 5.30 | 730.95 | 0.0 | 104.28 | 0.05 | 0.0 | -37.50 | -137.5 | 0.0 | 137.50 | 1550.0 | 0.0 | 2.19 | -47.73 | 0.0 |
| 19Q1 (1) | 8.65 | 0.0 | 0.0 | -4.87 | 0.0 | 0.0 | -5.19 | 0.0 | 0.0 | -6.68 | 0.0 | 0.0 | -0.38 | 0.0 | 0.0 | -0.11 | 0.0 | 0.0 | 0.03 | 0.0 | 0.0 | -0.84 | 0.0 | 0.0 | 104.23 | 0.0 | 0.0 | 100.00 | 0.0 | 0.0 | 8.33 | 0.0 | 0.0 | 4.19 | 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) | 26.52 | 7.15 | 6.83 | -53.38 | 2.56 | 259.4 | -12.32 | 0 | -11.02 | 0 | -1.46 | 0 | 0.23 | -80.67 | 0.04 | -63.64 | 12.27 | -20.94 | 286.98 | 8.67 | -55.22 | 0 | 156.72 | 0 | 0.00 | 0 | 7.50 | 179.85 |
| 2022 (9) | 24.75 | -19.46 | 14.65 | -34.36 | 0.71 | 66.52 | 7.37 | -62.15 | 4.63 | -73.94 | 1.84 | -81.45 | 1.19 | -66.19 | 0.11 | -35.29 | 15.52 | -33.16 | 264.08 | 8.57 | 198.39 | 73.26 | -98.39 | 0 | 0.00 | 0 | 2.68 | -4.96 |
| 2021 (8) | 30.73 | 31.72 | 22.32 | 55.87 | 0.43 | -36.76 | 19.47 | 57.91 | 17.77 | 48.7 | 9.92 | 121.92 | 3.52 | 78.68 | 0.17 | 21.43 | 23.22 | 48.37 | 243.24 | 19.49 | 114.51 | -1.23 | -14.73 | 0 | 0.00 | 0 | 2.82 | -5.69 |
| 2020 (7) | 23.33 | 201.42 | 14.32 | 0 | 0.68 | -40.61 | 12.33 | 0 | 11.95 | 0 | 4.47 | 0 | 1.97 | 0 | 0.14 | 55.56 | 15.65 | 0 | 203.56 | 57.76 | 115.93 | 207.17 | -15.93 | 0 | 0.00 | 0 | 2.99 | -20.48 |
| 2019 (6) | 7.74 | -20.94 | -12.35 | 0 | 1.14 | 0 | -32.53 | 0 | -33.51 | 0 | -6.63 | 0 | -2.92 | 0 | 0.09 | -62.5 | -29.40 | 0 | 129.03 | 24.58 | 37.74 | -79.29 | 61.87 | 0 | 0.00 | 0 | 3.76 | 129.27 |
| 2018 (5) | 9.79 | -64.72 | 4.34 | 0 | 0.00 | 0 | 2.37 | 0 | 1.50 | 0 | 0.70 | 0 | 0.80 | 0 | 0.24 | 380.0 | 4.79 | 0 | 103.57 | 14.7 | 182.22 | 993.33 | -82.22 | 0 | 0.00 | 0 | 1.64 | -80.48 |
| 2017 (4) | 27.75 | -30.19 | -2.05 | 0 | 0.00 | 0 | -11.89 | 0 | -14.63 | 0 | -1.25 | 0 | -0.52 | 0 | 0.05 | -76.19 | -6.82 | 0 | 90.30 | 62.35 | 16.67 | -83.93 | 83.33 | 0 | 0.00 | 0 | 8.40 | 195.77 |
| 2016 (3) | 39.75 | -1.51 | 30.76 | -9.05 | 0.00 | 0 | 29.67 | -9.21 | 26.44 | -14.93 | 8.73 | -51.42 | 5.51 | -47.07 | 0.21 | -34.38 | 30.11 | -11.26 | 55.62 | -15.25 | 103.70 | 0.17 | -3.70 | 0 | 0.00 | 0 | 2.84 | 35.24 |
| 2015 (2) | 40.36 | 6.13 | 33.82 | 15.27 | 0.05 | 0 | 32.68 | 22.08 | 31.08 | 18.99 | 17.97 | 82.07 | 10.41 | 117.78 | 0.32 | 88.24 | 33.93 | 18.26 | 65.63 | -29.61 | 103.53 | -5.58 | -3.53 | 0 | 0.00 | 0 | 2.10 | -38.6 |
| 2014 (1) | 38.03 | 0 | 29.34 | 0 | 0.00 | 0 | 26.77 | 0 | 26.12 | 0 | 9.87 | 0 | 4.78 | 0 | 0.17 | -58.54 | 28.69 | 8.63 | 93.24 | -40.72 | 109.66 | 3.99 | -9.66 | 0 | 0.00 | 0 | 3.42 | 107.27 |
