- 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) | 9.80 | -22.04 | 155.87 | 2.29 | -55.96 | 153.63 | 0.48 | -92.71 | 115.84 | 0.15 | -97.19 | 106.52 | 0.09 | -97.31 | 107.26 | 0.19 | -81.73 | 258.33 | 0.16 | 0.0 | 23.08 | 17.19 | -28.35 | -8.12 | 275.90 | 0.16 | -9.94 | 477.53 | 504.18 | 238.92 | -377.09 | -1898.93 | -822.04 | 16.92 | 1.44 | 9.87 |
| 23Q3 (19) | 12.57 | -25.93 | 181.84 | 5.20 | -48.51 | 684.27 | 6.58 | -26.23 | 1878.38 | 5.33 | -27.38 | 17866.67 | 3.34 | -28.33 | 16800.0 | 1.04 | -22.96 | 511.76 | 0.16 | 0.0 | 23.08 | 23.99 | -11.21 | 10.81 | 275.45 | -7.56 | -5.88 | 79.04 | -30.2 | -67.63 | 20.96 | 258.44 | 114.54 | 16.68 | -2.17 | 6.65 |
| 23Q2 (18) | 16.97 | 39.33 | 131.83 | 10.10 | 135.98 | 286.97 | 8.92 | 120.25 | 668.97 | 7.34 | 124.46 | 689.25 | 4.66 | 143.98 | 959.09 | 1.35 | 104.55 | 350.0 | 0.16 | 6.67 | 23.08 | 27.02 | 12.44 | 16.42 | 297.99 | 0.26 | 4.99 | 113.23 | 7.22 | -49.52 | -13.23 | -135.83 | 89.36 | 17.05 | -2.29 | 1.07 |
| 23Q1 (17) | 12.18 | 218.02 | -17.54 | 4.28 | 200.23 | -56.06 | 4.05 | 233.66 | -57.55 | 3.27 | 242.17 | -56.69 | 1.91 | 254.03 | -46.65 | 0.66 | 650.0 | -41.59 | 0.15 | 15.38 | 15.38 | 24.03 | 28.43 | -22.36 | 297.21 | -2.98 | 16.25 | 105.61 | -25.04 | 3.45 | -5.61 | 86.28 | -169.29 | 17.45 | 13.31 | -16.63 |
| 22Q4 (16) | 3.83 | -14.13 | -86.4 | -4.27 | -379.78 | -119.66 | -3.03 | -718.92 | -114.5 | -2.30 | -7566.67 | -113.81 | -1.24 | -6100.0 | -111.33 | -0.12 | -170.59 | -104.12 | 0.13 | 0.0 | -23.53 | 18.71 | -13.58 | -50.05 | 306.35 | 4.68 | 8.74 | 140.90 | -42.3 | 35.55 | -40.90 | 71.64 | -936.32 | 15.40 | -1.53 | -25.93 |
| 22Q3 (15) | 4.46 | -39.07 | -72.38 | -0.89 | -134.1 | -107.7 | -0.37 | -131.9 | -104.05 | -0.03 | -103.23 | -100.37 | -0.02 | -104.55 | -100.46 | 0.17 | -43.33 | -85.83 | 0.13 | 0.0 | 0.0 | 21.65 | -6.72 | -31.31 | 292.66 | 3.11 | -7.17 | 244.20 | 8.87 | 93.16 | -144.20 | -16.01 | -445.65 | 15.64 | -7.29 | -16.72 |
| 22Q2 (14) | 7.32 | -50.44 | -24.15 | 2.61 | -73.2 | -36.5 | 1.16 | -87.84 | 162.03 | 0.93 | -87.68 | 156.36 | 0.44 | -87.71 | 155.0 | 0.30 | -73.45 | 0 | 0.13 | 0.0 | 18.18 | 23.21 | -25.01 | -11.31 | 283.83 | 11.02 | -13.62 | 224.30 | 119.72 | 202.29 | -124.30 | -5866.36 | -138.93 | 16.87 | -19.4 | -19.28 |
| 22Q1 (13) | 14.77 | -47.57 | 146.58 | 9.74 | -55.16 | 676.33 | 9.54 | -54.35 | 299.16 | 7.55 | -54.68 | 272.77 | 3.58 | -67.28 | 276.35 | 1.13 | -61.17 | 552.0 | 0.13 | -23.53 | 30.0 | 30.95 | -17.38 | 18.63 | 255.66 | -9.26 | -28.22 | 102.08 | -1.79 | 189.93 | -2.08 | 47.21 | -103.22 | 20.93 | 0.67 | -4.12 |
| 21Q4 (12) | 28.17 | 74.43 | 102.95 | 21.72 | 87.89 | 133.8 | 20.90 | 128.67 | 226.56 | 16.66 | 105.17 | 136.65 | 10.94 | 152.07 | 209.92 | 2.91 | 142.5 | 212.9 | 0.17 | 30.77 | 70.0 | 37.46 | 18.85 | 12.42 | 281.74 | -10.64 | -23.46 | 103.95 | -17.78 | -28.35 | -3.95 | 85.07 | 91.24 | 20.79 | 10.7 | -11.31 |
| 21Q3 (11) | 16.15 | 67.36 | 257.3 | 11.56 | 181.27 | 962.69 | 9.14 | 588.77 | 372.02 | 8.12 | 592.12 | 364.5 | 4.34 | 642.5 | 410.0 | 1.20 | 0 | 1600.0 | 0.13 | 18.18 | 44.44 | 31.52 | 20.44 | 7.8 | 315.27 | -4.05 | -18.98 | 126.43 | 157.66 | 215.36 | -26.43 | -108.28 | -144.11 | 18.78 | -10.14 | -4.96 |
| 21Q2 (10) | 9.65 | 61.1 | -45.57 | 4.11 | 343.2 | -60.63 | -1.87 | 60.96 | -123.0 | -1.65 | 62.24 | -119.28 | -0.80 | 60.59 | -120.3 | 0.00 | 100.0 | -100.0 | 0.11 | 10.0 | 22.22 | 26.17 | 0.31 | -36.5 | 328.59 | -7.74 | -15.2 | -219.27 | -722.75 | -270.76 | 319.27 | 392.78 | 1223.76 | 20.90 | -4.26 | 0 |
| 21Q1 (9) | 5.99 | -56.84 | 780.88 | -1.69 | -118.19 | 81.49 | -4.79 | -174.84 | 59.02 | -4.37 | -162.07 | 62.65 | -2.03 | -157.51 | 69.05 | -0.25 | -126.88 | 76.64 | 0.10 | 0.0 | -9.09 | 26.09 | -21.7 | 62.35 | 356.16 | -3.25 | -16.64 | 35.21 | -75.73 | -54.89 | 64.79 | 243.76 | 194.96 | 21.83 | -6.87 | 0 |
| 20Q4 (8) | 13.88 | 207.08 | 91.71 | 9.29 | 793.28 | 3096.77 | 6.40 | 290.48 | 529.53 | 7.04 | 329.32 | 504.6 | 3.53 | 352.14 | 389.34 | 0.93 | 1262.5 | 3200.0 | 0.10 | 11.11 | -28.57 | 33.32 | 13.95 | 70.09 | 368.11 | -5.4 | -4.96 | 145.07 | 261.86 | 601.91 | -45.07 | -175.23 | -156.81 | 23.44 | 18.62 | 0 |
| 20Q3 (7) | 4.52 | -74.51 | -62.08 | -1.34 | -112.84 | -139.41 | -3.36 | -141.33 | -315.38 | -3.07 | -135.86 | -366.96 | -1.40 | -135.53 | -266.67 | -0.08 | -108.0 | -121.05 | 0.09 | 0.0 | -40.0 | 29.24 | -29.05 | 30.77 | 389.12 | 0.42 | -1.93 | 40.09 | -68.78 | -81.57 | 59.91 | 310.87 | 150.96 | 19.76 | 0 | 16.1 |
| 20Q2 (6) | 17.73 | 2507.35 | 76.95 | 10.44 | 214.35 | 684.96 | 8.13 | 169.55 | 2035.71 | 8.56 | 173.16 | 1358.82 | 3.94 | 160.06 | 904.08 | 1.00 | 193.46 | 669.23 | 0.09 | -18.18 | -40.0 | 41.21 | 156.44 | 96.43 | 387.48 | -9.31 | -4.88 | 128.41 | 64.5 | 140.79 | -28.41 | -229.35 | -106.86 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 0.68 | -90.61 | -93.48 | -9.13 | -2845.16 | -585.64 | -11.69 | -684.56 | -11790.0 | -11.70 | -572.41 | -3150.0 | -6.56 | -437.7 | -2524.0 | -1.07 | -3466.67 | -609.52 | 0.11 | -21.43 | -26.67 | 16.07 | -17.97 | -29.24 | 427.26 | 10.31 | 8.39 | 78.06 | 277.69 | -95.69 | 21.97 | -72.31 | 101.28 | 0.00 | 0 | -100.0 |
| 19Q4 (4) | 7.24 | -39.26 | 0.0 | -0.31 | -109.12 | 0.0 | -1.49 | -195.51 | 0.0 | -1.74 | -251.3 | 0.0 | -1.22 | -245.24 | 0.0 | -0.03 | -107.89 | 0.0 | 0.14 | -6.67 | 0.0 | 19.59 | -12.39 | 0.0 | 387.34 | -2.38 | 0.0 | 20.67 | -90.5 | 0.0 | 79.33 | 167.48 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 11.92 | 18.96 | 0.0 | 3.40 | 155.64 | 0.0 | 1.56 | 471.43 | 0.0 | 1.15 | 269.12 | 0.0 | 0.84 | 271.43 | 0.0 | 0.38 | 192.31 | 0.0 | 0.15 | 0.0 | 0.0 | 22.36 | 6.58 | 0.0 | 396.77 | -2.6 | 0.0 | 217.56 | 169.1 | 0.0 | -117.56 | -128.38 | 0.0 | 17.02 | -0.99 | 0.0 |
| 19Q2 (2) | 10.02 | -3.93 | 0.0 | 1.33 | -29.26 | 0.0 | -0.42 | -520.0 | 0.0 | -0.68 | -88.89 | 0.0 | -0.49 | -96.0 | 0.0 | 0.13 | -38.1 | 0.0 | 0.15 | 0.0 | 0.0 | 20.98 | -7.62 | 0.0 | 407.35 | 3.34 | 0.0 | -314.84 | -117.38 | 0.0 | 414.29 | 124.2 | 0.0 | 17.19 | -7.23 | 0.0 |
| 19Q1 (1) | 10.43 | 0.0 | 0.0 | 1.88 | 0.0 | 0.0 | 0.10 | 0.0 | 0.0 | -0.36 | 0.0 | 0.0 | -0.25 | 0.0 | 0.0 | 0.21 | 0.0 | 0.0 | 0.15 | 0.0 | 0.0 | 22.71 | 0.0 | 0.0 | 394.19 | 0.0 | 0.0 | 1811.90 | 0.0 | 0.0 | -1711.90 | 0.0 | 0.0 | 18.53 | 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) | 12.89 | 70.95 | 5.50 | 221.64 | 16.47 | -17.56 | 5.03 | 184.18 | 4.04 | 171.14 | 9.97 | 232.33 | 3.26 | 124.83 | 0.63 | 23.53 | 23.03 | -2.29 | 275.90 | -9.94 | 109.16 | 12.37 | -9.16 | 0 | 0.27 | -9.33 | 17.01 | -1.05 |
| 2022 (9) | 7.54 | -55.17 | 1.71 | -84.14 | 19.97 | -6.72 | 1.77 | -77.9 | 1.49 | -76.9 | 3.00 | -76.91 | 1.45 | -61.44 | 0.51 | 6.25 | 23.57 | -24.74 | 306.35 | 8.74 | 97.14 | -27.78 | 2.86 | 0 | 0.30 | -12.4 | 17.19 | -16.23 |
| 2021 (8) | 16.82 | 89.63 | 10.78 | 467.37 | 21.41 | -20.82 | 8.01 | 0 | 6.45 | 0 | 12.99 | 0 | 3.76 | 401.33 | 0.48 | 20.0 | 31.32 | 6.86 | 281.74 | -23.46 | 134.52 | 0 | -34.52 | 0 | 0.34 | -9.58 | 20.52 | -6.51 |
| 2020 (7) | 8.87 | -10.49 | 1.90 | 20.25 | 27.04 | 39.73 | -0.57 | 0 | -0.24 | 0 | -0.46 | 0 | 0.75 | -1.32 | 0.40 | -37.5 | 29.31 | 36.96 | 368.11 | -4.96 | -333.94 | 0 | 433.94 | -84.77 | 0.38 | -6.21 | 21.95 | 30.65 |
| 2019 (6) | 9.91 | -1.69 | 1.58 | -33.05 | 19.35 | 70.97 | -0.06 | 0 | -0.40 | 0 | -1.12 | 0 | 0.76 | -48.65 | 0.64 | -14.67 | 21.40 | 52.31 | 387.34 | 36.74 | -2748.45 | 0 | 2848.45 | 0 | 0.40 | -23.28 | 16.80 | -0.12 |
| 2018 (5) | 10.08 | -28.36 | 2.36 | -58.23 | 11.32 | -3.63 | 1.80 | -20.35 | 1.33 | -16.88 | 3.81 | -10.56 | 1.48 | -7.5 | 0.75 | 8.7 | 14.05 | -6.52 | 283.26 | 0.5 | 130.54 | -47.88 | -30.54 | 0 | 0.53 | 0 | 16.82 | -4.05 |
| 2017 (4) | 14.07 | 10.27 | 5.65 | 74.38 | 11.75 | -5.55 | 2.26 | 69.92 | 1.60 | 220.0 | 4.26 | 255.0 | 1.60 | 100.0 | 0.69 | 9.52 | 15.03 | 1.62 | 281.86 | -2.12 | 250.45 | 3.14 | -150.45 | 0 | 0.00 | 0 | 17.53 | -2.88 |
| 2016 (3) | 12.76 | -8.66 | 3.24 | -42.14 | 12.44 | 4.51 | 1.33 | -72.97 | 0.50 | -87.78 | 1.20 | -88.71 | 0.80 | -75.61 | 0.63 | -1.56 | 14.79 | -18.29 | 287.96 | 8.06 | 242.82 | 113.13 | -142.82 | 0 | 0.00 | 0 | 18.05 | 7.89 |
| 2015 (2) | 13.97 | 54.36 | 5.60 | 235.33 | 11.90 | 2.63 | 4.92 | 1950.0 | 4.09 | 0 | 10.63 | 0 | 3.28 | 583.33 | 0.64 | -4.48 | 18.10 | 37.02 | 266.48 | -23.71 | 113.93 | -83.63 | -13.93 | 0 | 0.00 | 0 | 16.73 | 30.3 |
| 2014 (1) | 9.05 | 0 | 1.67 | 0 | 11.60 | -4.72 | 0.24 | 0 | -0.40 | 0 | -1.15 | 0 | 0.48 | 0 | 0.67 | 4.69 | 13.21 | -1.78 | 349.29 | 9.91 | 695.86 | 0 | -595.58 | 0 | 0.00 | 0 | 12.84 | -4.25 |
