- 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) | 11.64 | 14.57 | 90.2 | 9.58 | 21.42 | 169.1 | 9.56 | 24.16 | 239.01 | 7.74 | 24.24 | 205.93 | 8.28 | 29.37 | 285.12 | 1.92 | 29.73 | 200.0 | 0.24 | 9.09 | 26.32 | 13.20 | 15.69 | 86.18 | 341.63 | -5.54 | -4.13 | 100.31 | -1.78 | -20.94 | -0.31 | 87.97 | 98.86 | 12.76 | -0.93 | 9.06 |
| 23Q3 (19) | 10.16 | 49.41 | 150.86 | 7.89 | 71.15 | 497.73 | 7.70 | 84.65 | 2466.67 | 6.23 | 60.57 | 4053.33 | 6.40 | 75.34 | 5718.18 | 1.48 | 62.64 | 640.0 | 0.22 | 10.0 | 15.79 | 11.41 | 41.04 | 139.71 | 361.67 | -3.69 | 3.0 | 102.12 | -7.76 | -78.12 | -2.54 | 76.27 | 99.27 | 12.88 | -3.74 | -0.23 |
| 23Q2 (18) | 6.80 | 22.74 | 75.71 | 4.61 | 95.34 | -54.08 | 4.17 | 220.77 | -55.11 | 3.88 | 226.05 | -57.64 | 3.65 | 314.77 | -48.95 | 0.91 | 184.38 | -61.92 | 0.20 | 25.0 | -16.67 | 8.09 | 33.5 | -39.22 | 375.52 | 4.55 | 69.41 | 110.71 | -38.99 | 2.28 | -10.71 | 86.85 | -29.91 | 13.38 | -10.2 | 9.58 |
| 23Q1 (17) | 5.54 | -9.48 | 49.33 | 2.36 | -33.71 | 59.46 | 1.30 | -53.9 | 18.18 | 1.19 | -52.96 | 22.68 | 0.88 | -59.07 | 22.22 | 0.32 | -50.0 | -5.88 | 0.16 | -15.79 | -27.27 | 6.06 | -14.53 | 13.91 | 359.19 | 0.8 | 62.63 | 181.48 | 43.05 | 36.11 | -81.48 | -203.29 | -144.44 | 14.90 | 27.35 | 23.55 |
| 22Q4 (16) | 6.12 | 51.11 | 186.56 | 3.56 | 169.7 | 139.16 | 2.82 | 840.0 | -80.92 | 2.53 | 1586.67 | -82.64 | 2.15 | 1854.55 | -84.72 | 0.64 | 220.0 | -84.12 | 0.19 | 0.0 | -29.63 | 7.09 | 48.95 | -61.24 | 356.33 | 1.48 | 38.91 | 126.87 | -72.81 | 306.23 | -26.87 | 92.32 | -116.66 | 11.70 | -9.37 | 11.01 |
| 22Q3 (15) | 4.05 | 4.65 | -13.09 | 1.32 | -86.85 | -49.23 | 0.30 | -96.77 | -85.07 | 0.15 | -98.36 | -91.33 | 0.11 | -98.46 | -93.53 | 0.20 | -91.63 | -67.74 | 0.19 | -20.83 | -26.92 | 4.76 | -64.24 | -18.35 | 351.13 | 58.41 | 29.39 | 466.67 | 331.11 | 260.23 | -350.00 | -4143.75 | -1084.62 | 12.91 | 5.73 | 25.95 |
| 22Q2 (14) | 3.87 | 4.31 | 8.71 | 10.04 | 578.38 | 617.14 | 9.29 | 744.55 | 829.0 | 9.16 | 844.33 | 929.21 | 7.15 | 893.06 | 782.72 | 2.39 | 602.94 | 497.5 | 0.24 | 9.09 | -4.0 | 13.31 | 150.19 | 164.61 | 221.66 | 0.36 | -19.93 | 108.25 | -18.81 | -22.68 | -8.25 | 75.26 | 79.38 | 12.21 | 1.24 | 6.36 |
| 22Q1 (13) | 3.71 | 152.48 | -11.24 | 1.48 | 116.28 | -3.9 | 1.10 | -92.56 | 71.88 | 0.97 | -93.34 | 61.67 | 0.72 | -94.88 | 71.43 | 0.34 | -91.56 | 21.43 | 0.22 | -18.52 | 15.79 | 5.32 | -70.91 | -7.32 | 220.86 | -13.9 | -14.86 | 133.33 | 316.75 | -42.03 | -33.33 | -120.68 | 76.19 | 12.06 | 14.42 | -15.25 |
| 21Q4 (12) | -7.07 | -251.72 | -296.39 | -9.09 | -449.62 | -890.43 | 14.78 | 635.32 | 1219.64 | 14.57 | 742.2 | 1200.89 | 14.07 | 727.65 | 1350.52 | 4.03 | 550.0 | 859.52 | 0.27 | 3.85 | 12.5 | 18.29 | 213.72 | 262.9 | 256.51 | -5.48 | -5.93 | -61.52 | -147.49 | -158.72 | 161.22 | 645.68 | 3485.71 | 10.54 | 2.83 | -7.14 |
| 21Q3 (11) | 4.66 | 30.9 | 13.66 | 2.60 | 85.71 | 47.73 | 2.01 | 101.0 | 57.03 | 1.73 | 94.38 | 35.16 | 1.70 | 109.88 | 65.05 | 0.62 | 55.0 | 44.19 | 0.26 | 4.0 | 18.18 | 5.83 | 15.9 | 11.47 | 271.38 | -1.97 | 1.9 | 129.55 | -7.47 | -5.0 | -29.55 | 26.14 | 18.75 | 10.25 | -10.71 | -18.0 |
| 21Q2 (10) | 3.56 | -14.83 | 8.87 | 1.40 | -9.09 | 70.73 | 1.00 | 56.25 | 334.78 | 0.89 | 48.33 | 286.96 | 0.81 | 92.86 | 376.47 | 0.40 | 42.86 | 135.29 | 0.25 | 31.58 | 19.05 | 5.03 | -12.37 | 22.68 | 276.84 | 6.72 | 11.2 | 140.00 | -39.13 | -56.92 | -40.00 | 71.43 | 82.22 | 11.48 | -19.33 | 0 |
| 21Q1 (9) | 4.18 | 16.11 | 487.04 | 1.54 | 33.91 | 26.23 | 0.64 | -42.86 | 60.0 | 0.60 | -46.43 | 50.0 | 0.42 | -56.7 | 82.61 | 0.28 | -33.33 | 47.37 | 0.19 | -20.83 | 11.76 | 5.74 | 13.89 | 20.59 | 259.41 | -4.87 | 7.63 | 230.00 | 119.55 | -23.33 | -140.00 | -2840.0 | 30.0 | 14.23 | 25.37 | -14.74 |
| 20Q4 (8) | 3.60 | -12.2 | -8.16 | 1.15 | -34.66 | -29.01 | 1.12 | -12.5 | -21.68 | 1.12 | -12.5 | -21.68 | 0.97 | -5.83 | -17.09 | 0.42 | -2.33 | 2.44 | 0.24 | 9.09 | 4.35 | 5.04 | -3.63 | 26.0 | 272.68 | 2.39 | 5.68 | 104.76 | -23.17 | -6.46 | -4.76 | 86.9 | 60.32 | 11.35 | -9.2 | -3.98 |
| 20Q3 (7) | 4.10 | 25.38 | 16.48 | 1.76 | 114.63 | 833.33 | 1.28 | 456.52 | 740.0 | 1.28 | 456.52 | 740.0 | 1.03 | 505.88 | 835.71 | 0.43 | 152.94 | 514.29 | 0.22 | 4.76 | 10.0 | 5.23 | 27.56 | 93.7 | 266.32 | 6.98 | 9.26 | 136.36 | -58.04 | 36.36 | -36.36 | 83.84 | -9.09 | 12.50 | 0 | -9.09 |
| 20Q2 (6) | 3.27 | 402.78 | -10.66 | 0.82 | -32.79 | 41.38 | 0.23 | -42.5 | 228.57 | 0.23 | -42.5 | 228.57 | 0.17 | -26.09 | 240.0 | 0.17 | -10.53 | 54.55 | 0.21 | 23.53 | 5.0 | 4.10 | -13.87 | 60.16 | 248.95 | 3.29 | 6.07 | 325.00 | 8.33 | -59.38 | -225.00 | -12.5 | 67.86 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | -1.08 | -127.55 | -127.91 | 1.22 | -24.69 | 212.82 | 0.40 | -72.03 | 273.91 | 0.40 | -72.03 | 273.91 | 0.23 | -80.34 | 291.67 | 0.19 | -53.66 | 216.67 | 0.17 | -26.09 | 6.25 | 4.76 | 19.0 | 83.78 | 241.03 | -6.58 | 8.01 | 300.00 | 167.86 | 250.0 | -200.00 | -1566.67 | -157.14 | 16.69 | 41.2 | 14.55 |
| 19Q4 (4) | 3.92 | 11.36 | 0.0 | 1.62 | 775.0 | 0.0 | 1.43 | 815.0 | 0.0 | 1.43 | 815.0 | 0.0 | 1.17 | 935.71 | 0.0 | 0.41 | 485.71 | 0.0 | 0.23 | 15.0 | 0.0 | 4.00 | 48.15 | 0.0 | 258.02 | 5.86 | 0.0 | 112.00 | 12.0 | 0.0 | -12.00 | 64.0 | 0.0 | 11.82 | -14.04 | 0.0 |
| 19Q3 (3) | 3.52 | -3.83 | 0.0 | -0.24 | -141.38 | 0.0 | -0.20 | -385.71 | 0.0 | -0.20 | -385.71 | 0.0 | -0.14 | -380.0 | 0.0 | 0.07 | -36.36 | 0.0 | 0.20 | 0.0 | 0.0 | 2.70 | 5.47 | 0.0 | 243.74 | 3.85 | 0.0 | 100.00 | -87.5 | 0.0 | -33.33 | 95.24 | 0.0 | 13.75 | 7.51 | 0.0 |
| 19Q2 (2) | 3.66 | -5.43 | 0.0 | 0.58 | 48.72 | 0.0 | 0.07 | 130.43 | 0.0 | 0.07 | 130.43 | 0.0 | 0.05 | 141.67 | 0.0 | 0.11 | 83.33 | 0.0 | 0.20 | 25.0 | 0.0 | 2.56 | -1.16 | 0.0 | 234.70 | 5.17 | 0.0 | 800.00 | 500.0 | 0.0 | -700.00 | -300.0 | 0.0 | 12.79 | -12.22 | 0.0 |
| 19Q1 (1) | 3.87 | 0.0 | 0.0 | 0.39 | 0.0 | 0.0 | -0.23 | 0.0 | 0.0 | -0.23 | 0.0 | 0.0 | -0.12 | 0.0 | 0.0 | 0.06 | 0.0 | 0.0 | 0.16 | 0.0 | 0.0 | 2.59 | 0.0 | 0.0 | 223.16 | 0.0 | 0.0 | -200.00 | 0.0 | 0.0 | 350.00 | 0.0 | 0.0 | 14.57 | 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) | 8.95 | 98.45 | 6.59 | 59.18 | 3.24 | -0.91 | 6.23 | 82.7 | 5.19 | 60.68 | 19.00 | 87.56 | 4.69 | 53.27 | 0.82 | 6.49 | 10.16 | 32.81 | 341.63 | -4.13 | 105.69 | -13.03 | -5.69 | 0 | 0.01 | -41.46 | 13.34 | 9.34 |
| 2022 (9) | 4.51 | 401.11 | 4.14 | 0 | 3.27 | 2.94 | 3.41 | -34.42 | 3.23 | -35.79 | 10.13 | -40.38 | 3.06 | -42.26 | 0.77 | -17.2 | 7.65 | -17.12 | 356.33 | 38.91 | 121.53 | 0 | -21.53 | 0 | 0.02 | -46.92 | 12.20 | 7.02 |
| 2021 (8) | 0.90 | -67.27 | -1.29 | 0 | 3.17 | 0.65 | 5.20 | 541.98 | 5.03 | 520.99 | 16.99 | 607.92 | 5.30 | 345.38 | 0.93 | 13.41 | 9.23 | 92.69 | 256.51 | -5.93 | -24.76 | 0 | 124.76 | 0 | 0.04 | 77.11 | 11.40 | -13.77 |
| 2020 (7) | 2.75 | -26.47 | 1.25 | 92.31 | 3.15 | 52.8 | 0.81 | 125.0 | 0.81 | 125.0 | 2.40 | 150.0 | 1.19 | 80.3 | 0.82 | 3.8 | 4.79 | 56.54 | 272.68 | 5.68 | 153.85 | -16.84 | -53.85 | 0 | 0.02 | 88.11 | 13.22 | 1.15 |
| 2019 (6) | 3.74 | 0 | 0.65 | 0 | 2.06 | 50.78 | 0.36 | 0 | 0.36 | 0 | 0.96 | 0 | 0.66 | 0 | 0.79 | 2.6 | 3.06 | 0 | 258.02 | 18.69 | 185.00 | 87.51 | -80.00 | 0 | 0.01 | -70.69 | 13.07 | 5.32 |
| 2018 (5) | -8.26 | 0 | -11.59 | 0 | 1.37 | -10.03 | -11.72 | 0 | -11.72 | 0 | -21.94 | 0 | -8.76 | 0 | 0.77 | -3.75 | -9.85 | 0 | 217.39 | 162.87 | 98.66 | -56.59 | 1.15 | 0 | 0.04 | 8.68 | 12.41 | -10.27 |
| 2017 (4) | 4.13 | 21.11 | 0.62 | 26.53 | 1.52 | 0.92 | 0.27 | -88.98 | 0.09 | -96.1 | 0.13 | -96.68 | 0.31 | -85.97 | 0.80 | -5.88 | 2.17 | -50.11 | 82.70 | -9.85 | 227.27 | 1026.48 | -127.27 | 0 | 0.04 | 0 | 13.83 | 9.85 |
| 2016 (3) | 3.41 | -20.14 | 0.49 | -62.02 | 1.51 | 0.53 | 2.45 | -20.97 | 2.31 | -7.23 | 3.92 | -22.68 | 2.21 | -21.91 | 0.85 | -14.14 | 4.35 | -13.86 | 91.74 | -15.97 | 20.18 | -51.0 | 79.82 | 37.07 | 0.00 | 0 | 12.59 | 30.74 |
| 2015 (2) | 4.27 | -41.83 | 1.29 | -75.66 | 1.50 | -13.59 | 3.10 | -51.49 | 2.49 | -55.46 | 5.07 | -62.83 | 2.83 | -58.81 | 0.99 | -10.0 | 5.05 | -43.19 | 109.18 | 6.99 | 41.18 | -50.3 | 58.24 | 239.71 | 0.00 | 0 | 9.63 | 16.02 |
| 2014 (1) | 7.34 | 0 | 5.30 | 0 | 1.74 | -43.76 | 6.39 | 0 | 5.59 | 0 | 13.64 | 0 | 6.87 | 0 | 1.10 | 52.78 | 8.89 | -25.98 | 102.05 | -30.78 | 82.86 | 306.32 | 17.14 | -78.47 | 0.00 | 0 | 8.30 | -33.23 |
