- 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) | 36.97 | 7.38 | -25.12 | -75.37 | -8.73 | -26.74 | -76.25 | -46.8 | -30.1 | -71.56 | -38.15 | -22.1 | -5.29 | -78.72 | -42.97 | -3.28 | -81.22 | -16.31 | 0.05 | 25.0 | 0.0 | -58.33 | -94.43 | -16.66 | 56.07 | 5.39 | 80.81 | 100.00 | -28.57 | 0.0 | -0.00 | 100.0 | 0 | 55.81 | -6.98 | 7.85 |
| 23Q3 (19) | 34.43 | -10.25 | 0.53 | -69.32 | -26.91 | 7.77 | -51.94 | -22.76 | 18.06 | -51.80 | -56.97 | 18.28 | -2.96 | -29.26 | 33.63 | -1.81 | -21.48 | 47.54 | 0.04 | -20.0 | -33.33 | -30.00 | 9.99 | 40.0 | 53.20 | 2.84 | 93.88 | 140.00 | 0.0 | 14.55 | -40.00 | -100.0 | -80.0 | 60.00 | 22.8 | -7.85 |
| 23Q2 (18) | 38.36 | 4.44 | 75.8 | -54.62 | 46.62 | 65.81 | -42.31 | 77.89 | -117.38 | -33.00 | 85.37 | -114.26 | -2.29 | 74.84 | -109.12 | -1.49 | 77.69 | -108.27 | 0.05 | 66.67 | -37.5 | -33.33 | 82.05 | -113.33 | 51.73 | 30.86 | 83.12 | 140.00 | 145.0 | 316.77 | -20.00 | -140.0 | -112.15 | 48.86 | -38.3 | -53.94 |
| 23Q1 (17) | 36.73 | -25.6 | 211.8 | -102.33 | -72.07 | -50.46 | -191.37 | -226.51 | -195.05 | -225.64 | -284.99 | -247.89 | -9.10 | -145.95 | 30.05 | -6.68 | -136.88 | 19.42 | 0.03 | -40.0 | -76.92 | -185.71 | -271.42 | -215.73 | 39.53 | 27.48 | -27.67 | 57.14 | -42.86 | -45.34 | 50.00 | 0 | 1200.0 | 79.19 | 53.02 | 99.57 |
| 22Q4 (16) | 49.37 | 44.15 | 241.06 | -59.47 | 20.88 | 56.32 | -58.61 | 7.54 | 62.2 | -58.61 | 7.54 | 65.16 | -3.70 | 17.04 | 92.24 | -2.82 | 18.26 | 89.29 | 0.05 | -16.67 | -68.75 | -50.00 | 0.0 | 66.34 | 31.01 | 13.01 | -45.53 | 100.00 | -18.18 | 13.98 | -0.00 | 100.0 | -100.0 | 51.75 | -20.52 | -23.84 |
| 22Q3 (15) | 34.25 | 56.97 | -34.22 | -75.16 | 52.96 | -99.58 | -63.39 | -126.04 | -128.65 | -63.39 | -127.4 | -134.87 | -4.46 | -117.75 | -109.79 | -3.45 | -119.15 | -116.05 | 0.06 | -25.0 | -50.0 | -50.00 | -120.0 | -121.58 | 27.44 | -2.87 | -71.07 | 122.22 | 289.25 | 801.45 | -22.22 | -113.5 | -118.92 | 65.11 | -38.62 | -28.37 |
| 22Q2 (14) | 21.82 | 85.23 | -63.84 | -159.77 | -134.92 | -281.31 | 243.43 | 475.32 | 688.0 | 231.38 | 456.74 | 665.17 | 25.12 | 293.08 | 275.3 | 18.02 | 317.37 | 411.76 | 0.08 | -38.46 | -46.67 | 250.00 | 525.03 | 860.8 | 28.25 | -48.31 | -80.47 | -64.58 | -161.78 | -164.58 | 164.58 | 3720.83 | 0 | 106.08 | 167.34 | 75671.43 |
| 22Q1 (13) | 11.78 | 133.66 | -79.15 | -68.01 | 50.05 | -153.96 | -64.86 | 58.17 | -127.02 | -64.86 | 61.44 | -124.66 | -13.01 | 72.72 | -36.37 | -8.29 | 68.5 | -104.19 | 0.13 | -18.75 | -13.33 | -58.82 | 60.4 | -172.06 | 54.65 | -4.0 | -58.68 | 104.55 | 19.16 | 9.77 | -4.55 | -137.06 | -195.45 | 39.68 | -41.6 | 2.59 |
| 21Q4 (12) | -35.00 | -167.22 | -158.02 | -136.16 | -261.55 | -745.71 | -155.06 | -170.09 | -114.29 | -168.22 | -192.54 | -133.15 | -47.69 | -204.68 | -71.61 | -26.32 | -222.42 | -96.13 | 0.16 | 33.33 | -15.79 | -148.53 | -164.11 | -119.65 | 56.93 | -39.98 | -50.28 | 87.74 | 603.53 | 292.23 | 12.26 | -89.56 | -84.2 | 67.95 | -25.25 | 72.55 |
| 21Q3 (11) | 52.07 | -13.71 | -10.82 | -37.66 | 10.12 | -121.01 | 221.22 | 634.35 | 1310.18 | 181.78 | 544.02 | 1094.96 | 45.56 | 417.93 | 928.36 | 21.50 | 471.97 | 878.99 | 0.12 | -20.0 | -25.0 | 231.67 | 805.02 | 2080.09 | 94.85 | -34.44 | -3.11 | -17.42 | -117.42 | -118.51 | 117.42 | 0 | 1896.21 | 90.90 | 64828.57 | 0 |
| 21Q2 (10) | 60.34 | 6.82 | 1.89 | -41.90 | -56.46 | -193.62 | -41.40 | -44.91 | -309.9 | -40.94 | -41.81 | -274.91 | -14.33 | -50.21 | -372.94 | -5.78 | -42.36 | -287.92 | 0.15 | 0.0 | 0.0 | -32.86 | -51.99 | -886.79 | 144.68 | 9.39 | 63.42 | 100.00 | 5.0 | -30.77 | -0.00 | -100.0 | 100.0 | 0.14 | -99.64 | 0 |
| 21Q1 (9) | 56.49 | -6.35 | -6.94 | -26.78 | -66.34 | 6.79 | -28.57 | 60.52 | -1.67 | -28.87 | 59.99 | -2.12 | -9.54 | 65.67 | -50.24 | -4.06 | 69.75 | -24.92 | 0.15 | -21.05 | 25.0 | -21.62 | 68.03 | -12.43 | 132.26 | 15.5 | 52.34 | 95.24 | 325.77 | -4.76 | 4.76 | -93.87 | 0 | 38.68 | -1.78 | 0 |
| 20Q4 (8) | 60.32 | 3.31 | 7.2 | -16.10 | 5.52 | -25.1 | -72.36 | -295.84 | -517.93 | -72.15 | -294.91 | -545.93 | -27.79 | -405.27 | -537.39 | -13.42 | -386.23 | -515.6 | 0.19 | 18.75 | -9.52 | -67.62 | -477.95 | -874.35 | 114.51 | 16.98 | 37.25 | 22.37 | -76.23 | -79.99 | 77.63 | 1219.74 | 759.87 | 39.38 | 0 | 0 |
| 20Q3 (7) | 58.39 | -1.4 | -4.29 | -17.04 | -19.41 | 3.73 | -18.28 | -80.99 | 4.44 | -18.27 | -67.31 | 4.04 | -5.50 | -81.52 | 6.62 | -2.76 | -85.23 | 11.82 | 0.16 | 6.67 | -5.88 | -11.70 | -251.35 | 15.34 | 97.89 | 10.57 | 14.48 | 94.12 | -34.84 | 2.67 | 5.88 | 113.24 | -29.41 | 0.00 | 0 | -100.0 |
| 20Q2 (6) | 59.22 | -2.44 | -4.35 | -14.27 | 50.33 | 15.56 | -10.10 | 64.06 | 29.12 | -10.92 | 61.37 | 23.64 | -3.03 | 52.28 | 28.87 | -1.49 | 54.15 | 36.05 | 0.15 | 25.0 | -16.67 | -3.33 | 82.68 | 64.5 | 88.53 | 1.97 | 28.45 | 144.44 | 44.44 | 18.18 | -44.44 | 0 | -166.67 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 60.70 | 7.87 | 9.96 | -28.73 | -123.23 | -63.42 | -28.10 | -139.97 | -62.33 | -28.27 | -153.09 | -63.13 | -6.35 | -45.64 | -9.86 | -3.25 | -49.08 | 0.0 | 0.12 | -42.86 | -40.0 | -19.23 | -177.09 | -51.78 | 86.82 | 4.06 | 26.62 | 100.00 | -10.53 | 0.0 | -0.00 | 100.0 | 0 | 0.00 | 0 | -100.0 |
| 19Q4 (4) | 56.27 | -7.77 | 0.0 | -12.87 | 27.29 | 0.0 | -11.71 | 38.79 | 0.0 | -11.17 | 41.33 | 0.0 | -4.36 | 25.98 | 0.0 | -2.18 | 30.35 | 0.0 | 0.21 | 23.53 | 0.0 | -6.94 | 49.78 | 0.0 | 83.43 | -2.43 | 0.0 | 111.76 | 21.93 | 0.0 | -11.76 | -241.18 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 61.01 | -1.45 | 0.0 | -17.70 | -4.73 | 0.0 | -19.13 | -34.25 | 0.0 | -19.04 | -33.15 | 0.0 | -5.89 | -38.26 | 0.0 | -3.13 | -34.33 | 0.0 | 0.17 | -5.56 | 0.0 | -13.82 | -47.33 | 0.0 | 85.51 | 24.07 | 0.0 | 91.67 | -25.0 | 0.0 | 8.33 | 150.0 | 0.0 | 39.94 | 3.23 | 0.0 |
| 19Q2 (2) | 61.91 | 12.16 | 0.0 | -16.90 | 3.87 | 0.0 | -14.25 | 17.68 | 0.0 | -14.30 | 17.48 | 0.0 | -4.26 | 26.3 | 0.0 | -2.33 | 28.31 | 0.0 | 0.18 | -10.0 | 0.0 | -9.38 | 25.97 | 0.0 | 68.92 | 0.51 | 0.0 | 122.22 | 22.22 | 0.0 | -16.67 | 0 | 0.0 | 38.69 | 1.04 | 0.0 |
| 19Q1 (1) | 55.20 | 0.0 | 0.0 | -17.58 | 0.0 | 0.0 | -17.31 | 0.0 | 0.0 | -17.33 | 0.0 | 0.0 | -5.78 | 0.0 | 0.0 | -3.25 | 0.0 | 0.0 | 0.20 | 0.0 | 0.0 | -12.67 | 0.0 | 0.0 | 68.57 | 0.0 | 0.0 | 100.00 | 0.0 | 0.0 | -0.00 | 0.0 | 0.0 | 38.29 | 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) | 36.74 | 53.6 | -72.64 | 0 | 9.76 | 56.1 | -81.05 | 0 | -83.02 | 0 | -19.86 | 0 | -13.51 | 0 | 0.17 | -43.33 | -65.85 | 0 | 56.07 | 80.81 | 90.91 | 0 | 9.09 | -98.89 | 3.24 | -11.47 | 58.92 | -5.53 |
| 2022 (9) | 23.92 | -28.64 | -90.62 | 0 | 6.25 | 13.33 | 12.44 | 0 | 9.46 | 0 | 4.11 | 0 | 3.05 | 0 | 0.30 | -56.52 | 21.25 | 0 | 31.01 | -45.53 | -720.00 | 0 | 820.00 | 0 | 3.66 | 2.8 | 62.37 | 30.97 |
| 2021 (8) | 33.52 | -43.79 | -60.52 | 0 | 5.51 | 26.15 | -8.77 | 0 | -20.70 | 0 | -25.85 | 0 | -12.65 | 0 | 0.69 | 9.52 | -0.37 | 0 | 56.93 | -50.28 | 687.50 | 1153.68 | -587.50 | 0 | 3.56 | 0.24 | 47.62 | 30.07 |
| 2020 (7) | 59.63 | 2.16 | -18.57 | 0 | 4.37 | 48.91 | -33.78 | 0 | -33.96 | 0 | -41.87 | 0 | -20.85 | 0 | 0.63 | -18.18 | -27.60 | 0 | 114.51 | 37.25 | 54.84 | -47.03 | 45.16 | 0 | 3.55 | 10.9 | 36.61 | -3.28 |
| 2019 (6) | 58.37 | -6.59 | -16.20 | 0 | 2.94 | 65.63 | -15.52 | 0 | -15.37 | 0 | -20.61 | 0 | -11.01 | 0 | 0.77 | 5.48 | -10.64 | 0 | 83.43 | 22.46 | 103.53 | 17.91 | -4.71 | 0 | 3.20 | 6.75 | 37.85 | 0.05 |
| 2018 (5) | 62.49 | 3.07 | -16.01 | 0 | 1.77 | -1.85 | -18.16 | 0 | -18.78 | 0 | -23.10 | 0 | -13.13 | 0 | 0.73 | -2.67 | -14.77 | 0 | 68.13 | -0.71 | 87.80 | 33.73 | 12.20 | -64.49 | 3.00 | 0 | 37.83 | 22.74 |
| 2017 (4) | 60.63 | -6.41 | -7.34 | 0 | 1.81 | 16.21 | -11.13 | 0 | -10.93 | 0 | -13.67 | 0 | -7.72 | 0 | 0.75 | -7.41 | -8.24 | 0 | 68.62 | 2.33 | 65.66 | -40.7 | 34.34 | 0 | 0.00 | 0 | 30.82 | 14.02 |
| 2016 (3) | 64.78 | -0.51 | 2.81 | -29.22 | 1.55 | -7.68 | 2.56 | -49.9 | 1.27 | -33.16 | 1.67 | -38.15 | 1.42 | -27.92 | 0.81 | -16.49 | 4.94 | -31.29 | 67.06 | 15.72 | 110.71 | 42.65 | -10.71 | 0 | 0.00 | 0 | 27.03 | 3.72 |
| 2015 (2) | 65.11 | 0.46 | 3.97 | -51.94 | 1.68 | 7.38 | 5.11 | -45.46 | 1.90 | -65.95 | 2.70 | -72.42 | 1.97 | -71.57 | 0.97 | -19.83 | 7.19 | -36.37 | 57.95 | 62.69 | 77.61 | -11.92 | 22.39 | 88.32 | 0.00 | 0 | 26.06 | 19.38 |
| 2014 (1) | 64.81 | 0 | 8.26 | 0 | 1.57 | 14.88 | 9.37 | 0 | 5.58 | 0 | 9.79 | 0 | 6.93 | 0 | 1.21 | -12.95 | 11.30 | -23.02 | 35.62 | -35.0 | 88.11 | -0.17 | 11.89 | 1.31 | 0.00 | 0 | 21.83 | 7.96 |
