- 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) | 20.91 | -8.65 | -8.13 | -10.58 | -151.31 | -733.53 | 6.13 | 83.53 | -40.49 | 4.64 | 35.67 | -41.19 | 0.41 | 13.89 | -59.0 | 0.32 | 18.52 | -56.76 | 0.07 | -12.5 | -22.22 | 9.60 | 55.84 | -27.38 | 33.85 | 5.95 | -2.93 | -162.50 | -35.42 | -1075.0 | 262.50 | 19.32 | 215.0 | 30.65 | 6.24 | 32.8 |
| 23Q3 (19) | 22.89 | 4.66 | 8.38 | -4.21 | -285.46 | -1126.83 | 3.34 | -54.06 | 72.16 | 3.42 | -40.52 | 56.88 | 0.36 | -52.0 | 24.14 | 0.27 | -51.79 | 22.73 | 0.08 | -20.0 | -20.0 | 6.16 | -36.23 | 21.74 | 31.95 | -9.95 | -11.64 | -120.00 | -490.0 | -460.0 | 220.00 | 217.78 | 120.0 | 28.85 | 15.58 | 10.28 |
| 23Q2 (18) | 21.87 | 0.97 | -2.71 | 2.27 | 159.11 | -49.1 | 7.27 | 157.52 | 416.09 | 5.75 | 158.61 | 381.86 | 0.75 | 168.18 | 327.27 | 0.56 | 169.14 | 333.33 | 0.10 | 25.0 | -16.67 | 9.66 | 204.89 | 2000.0 | 35.48 | 0.03 | -3.56 | 30.77 | -2.56 | 115.38 | 69.23 | 1.18 | -76.92 | 24.96 | -11.02 | 21.7 |
| 23Q1 (17) | 21.66 | -4.83 | 38.31 | -3.84 | -329.94 | -598.7 | -12.64 | -222.72 | -3316.22 | -9.81 | -224.33 | -1562.71 | -1.10 | -210.0 | -1275.0 | -0.81 | -209.46 | -1250.0 | 0.08 | -11.11 | -20.0 | -9.21 | -169.67 | -431.29 | 35.47 | 1.72 | -3.67 | 31.58 | 89.47 | 131.58 | 68.42 | -17.89 | -65.79 | 28.05 | 21.53 | 11.4 |
| 22Q4 (16) | 22.76 | 7.77 | 29.39 | 1.67 | 307.32 | 154.58 | 10.30 | 430.93 | 961.86 | 7.89 | 261.93 | 247.58 | 1.00 | 244.83 | 212.5 | 0.74 | 236.36 | 221.74 | 0.09 | -10.0 | -10.0 | 13.22 | 161.26 | 206.02 | 34.87 | -3.57 | -10.11 | 16.67 | -50.0 | 105.56 | 83.33 | -16.67 | -76.19 | 23.08 | -11.77 | -0.52 |
| 22Q3 (15) | 21.12 | -6.05 | 0.81 | 0.41 | -90.81 | 106.11 | 1.94 | 184.35 | 183.98 | 2.18 | 206.86 | 223.16 | 0.29 | 187.88 | 261.11 | 0.22 | 191.67 | 269.23 | 0.10 | -16.67 | 42.86 | 5.06 | 1000.0 | 125.89 | 36.16 | -1.71 | -8.66 | 33.33 | 116.67 | -88.89 | 100.00 | -66.67 | 150.0 | 26.16 | 27.55 | -18.98 |
| 22Q2 (14) | 22.48 | 43.55 | 10.52 | 4.46 | 479.22 | 208.78 | -2.30 | -521.62 | -921.43 | -2.04 | -245.76 | -368.42 | -0.33 | -312.5 | -512.5 | -0.24 | -300.0 | -500.0 | 0.12 | 20.0 | 71.43 | 0.46 | -83.45 | -91.07 | 36.79 | -0.08 | -6.22 | -200.00 | -100.0 | 0 | 300.00 | 50.0 | 0 | 20.51 | -18.55 | -32.93 |
| 22Q1 (13) | 15.66 | -10.97 | -28.53 | 0.77 | 125.16 | 112.6 | -0.37 | -138.14 | -111.6 | -0.59 | -125.99 | -126.58 | -0.08 | -125.0 | -136.36 | -0.06 | -126.09 | -137.5 | 0.10 | 0.0 | 42.86 | 2.78 | -35.65 | -66.14 | 36.82 | -5.08 | -5.03 | -100.00 | 66.67 | 50.0 | 200.00 | -42.86 | -33.33 | 25.18 | 8.53 | -9.06 |
| 21Q4 (12) | 17.59 | -16.04 | -15.15 | -3.06 | 54.4 | -765.22 | 0.97 | 141.99 | -79.23 | 2.27 | 228.25 | -18.93 | 0.32 | 277.78 | -30.43 | 0.23 | 276.92 | -32.35 | 0.10 | 42.86 | -16.67 | 4.32 | 92.86 | -42.86 | 38.79 | -2.02 | 2.54 | -300.00 | -200.0 | -3100.0 | 350.00 | 275.0 | 288.89 | 23.20 | -28.15 | 36.55 |
| 21Q3 (11) | 20.95 | 3.0 | -23.23 | -6.71 | -63.66 | -168.33 | -2.31 | -925.0 | -113.37 | -1.77 | -332.89 | -112.53 | -0.18 | -325.0 | -107.26 | -0.13 | -316.67 | -107.34 | 0.07 | 0.0 | -46.15 | 2.24 | -56.5 | -88.94 | 39.59 | 0.92 | 2.33 | 300.00 | 0 | 434.78 | -200.00 | 0 | -555.56 | 32.29 | 5.59 | 87.95 |
| 21Q2 (10) | 20.34 | -7.17 | -28.91 | -4.10 | 32.9 | -178.91 | 0.28 | -91.22 | -97.46 | 0.76 | -65.77 | -91.78 | 0.08 | -63.64 | -94.37 | 0.06 | -62.5 | -94.17 | 0.07 | 0.0 | -36.36 | 5.15 | -37.27 | -64.46 | 39.23 | 1.19 | -6.06 | 0.00 | 100.0 | 100.0 | 0.00 | -100.0 | -100.0 | 30.58 | 10.44 | 0 |
| 21Q1 (9) | 21.91 | 5.69 | -0.72 | -6.11 | -1428.26 | 36.49 | 3.19 | -31.69 | 163.93 | 2.22 | -20.71 | 142.05 | 0.22 | -52.17 | 138.6 | 0.16 | -52.94 | 139.02 | 0.07 | -41.67 | -12.5 | 8.21 | 8.6 | 0 | 38.77 | 2.48 | 10.39 | -200.00 | -2100.0 | -200.0 | 300.00 | 233.33 | 400.0 | 27.69 | 62.98 | 0 |
| 20Q4 (8) | 20.73 | -24.04 | -29.39 | 0.46 | -95.32 | -79.74 | 4.67 | -72.97 | -55.14 | 2.80 | -80.18 | -66.55 | 0.46 | -81.45 | -57.8 | 0.34 | -80.79 | -58.02 | 0.12 | -7.69 | 20.0 | 7.56 | -62.67 | -48.18 | 37.83 | -2.22 | 3.84 | 10.00 | -82.17 | -52.5 | 90.00 | 105.0 | 14.0 | 16.99 | -1.11 | -31.79 |
| 20Q3 (7) | 27.29 | -4.61 | -12.39 | 9.82 | 768.03 | 51.31 | 17.28 | 56.95 | 63.02 | 14.13 | 52.76 | 67.22 | 2.48 | 74.65 | 133.96 | 1.77 | 71.84 | 121.25 | 0.13 | 18.18 | 44.44 | 20.25 | 39.75 | 35.0 | 38.69 | -7.35 | 15.6 | 56.10 | 530.08 | -11.18 | 43.90 | -61.16 | 19.16 | 17.18 | 0 | -36.37 |
| 20Q2 (6) | 28.61 | 29.63 | -0.49 | -1.47 | 84.72 | -467.5 | 11.01 | 320.64 | 60.03 | 9.25 | 275.19 | 68.18 | 1.42 | 349.12 | 121.87 | 1.03 | 351.22 | 110.2 | 0.11 | 37.5 | 22.22 | 14.49 | 0 | 27.33 | 41.76 | 18.91 | 23.26 | -13.04 | -106.52 | -243.48 | 113.04 | 213.04 | 13.04 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 22.07 | -24.83 | -20.5 | -9.62 | -523.79 | -787.14 | -4.99 | -147.93 | -129.11 | -5.28 | -163.08 | -137.63 | -0.57 | -152.29 | -137.25 | -0.41 | -150.62 | -135.65 | 0.08 | -20.0 | 0.0 | -0.00 | -100.0 | -100.0 | 35.12 | -3.6 | 7.8 | 200.00 | 850.0 | 2500.0 | -100.00 | -226.67 | -208.33 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 29.36 | -5.75 | 0.0 | 2.27 | -65.02 | 0.0 | 10.41 | -1.79 | 0.0 | 8.37 | -0.95 | 0.0 | 1.09 | 2.83 | 0.0 | 0.81 | 1.25 | 0.0 | 0.10 | 11.11 | 0.0 | 14.59 | -2.73 | 0.0 | 36.43 | 8.84 | 0.0 | 21.05 | -66.67 | 0.0 | 78.95 | 114.29 | 0.0 | 24.91 | -7.74 | 0.0 |
| 19Q3 (3) | 31.15 | 8.35 | 0.0 | 6.49 | 1522.5 | 0.0 | 10.60 | 54.07 | 0.0 | 8.45 | 53.64 | 0.0 | 1.06 | 65.62 | 0.0 | 0.80 | 63.27 | 0.0 | 0.09 | 0.0 | 0.0 | 15.00 | 31.81 | 0.0 | 33.47 | -1.21 | 0.0 | 63.16 | 594.74 | 0.0 | 36.84 | -63.16 | 0.0 | 27.00 | -13.6 | 0.0 |
| 19Q2 (2) | 28.75 | 3.57 | 0.0 | 0.40 | -71.43 | 0.0 | 6.88 | -59.86 | 0.0 | 5.50 | -60.8 | 0.0 | 0.64 | -58.17 | 0.0 | 0.49 | -57.39 | 0.0 | 0.09 | 12.5 | 0.0 | 11.38 | -49.13 | 0.0 | 33.88 | 3.99 | 0.0 | 9.09 | 18.18 | 0.0 | 100.00 | 8.33 | 0.0 | 31.25 | 8.73 | 0.0 |
| 19Q1 (1) | 27.76 | 0.0 | 0.0 | 1.40 | 0.0 | 0.0 | 17.14 | 0.0 | 0.0 | 14.03 | 0.0 | 0.0 | 1.53 | 0.0 | 0.0 | 1.15 | 0.0 | 0.0 | 0.08 | 0.0 | 0.0 | 22.37 | 0.0 | 0.0 | 32.58 | 0.0 | 0.0 | 7.69 | 0.0 | 0.0 | 92.31 | 0.0 | 0.0 | 28.74 | 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) | 21.86 | 6.22 | -3.54 | 0 | 2.83 | 5.97 | 1.02 | -51.43 | 1.00 | -38.27 | 0.44 | -51.65 | 0.35 | -48.53 | 0.32 | -21.95 | 4.00 | -21.26 | 33.85 | -2.93 | -350.00 | 0 | 450.00 | 7100.0 | 0.05 | -50.05 | 27.88 | 18.24 |
| 2022 (9) | 20.58 | 3.05 | 1.96 | 0 | 2.67 | -31.64 | 2.10 | 268.42 | 1.62 | 63.64 | 0.91 | 111.63 | 0.68 | 106.06 | 0.41 | 28.12 | 5.08 | 3.04 | 34.87 | -10.11 | 93.75 | 0 | 6.25 | -99.41 | 0.11 | -34.78 | 23.58 | -15.79 |
| 2021 (8) | 19.97 | -19.7 | -4.83 | 0 | 3.91 | 28.14 | 0.57 | -93.01 | 0.99 | -84.11 | 0.43 | -88.25 | 0.33 | -87.69 | 0.32 | -25.58 | 4.93 | -57.06 | 38.79 | 2.54 | -933.33 | 0 | 1066.67 | 1091.11 | 0.17 | -36.98 | 28.00 | 48.23 |
| 2020 (7) | 24.87 | -15.21 | 0.84 | -69.23 | 3.05 | -25.43 | 8.15 | -26.51 | 6.23 | -30.31 | 3.66 | -17.01 | 2.68 | -18.29 | 0.43 | 19.44 | 11.48 | -26.6 | 37.83 | 3.84 | 10.45 | -58.21 | 89.55 | 19.4 | 0.26 | -49.21 | 18.89 | -32.17 |
| 2019 (6) | 29.33 | 4.04 | 2.73 | 0 | 4.09 | -7.21 | 11.09 | 350.81 | 8.94 | 0 | 4.41 | 0 | 3.28 | 0 | 0.36 | 9.09 | 15.64 | 112.79 | 36.43 | 7.05 | 25.00 | 0 | 75.00 | -37.5 | 0.52 | -13.71 | 27.85 | -4.69 |
| 2018 (5) | 28.19 | -6.69 | -0.50 | 0 | 4.41 | 17.53 | 2.46 | -80.95 | -5.21 | 0 | -2.29 | 0 | -1.71 | 0 | 0.33 | -13.16 | 7.35 | -56.69 | 34.03 | 8.0 | -20.00 | 0 | 120.00 | 94.72 | 0.60 | -13.44 | 29.22 | 5.41 |
| 2017 (4) | 30.21 | -14.32 | 4.93 | -45.22 | 3.75 | 52.03 | 12.91 | -26.9 | 10.94 | -26.53 | 5.36 | 17.03 | 4.17 | 14.25 | 0.38 | 52.0 | 16.97 | -16.2 | 31.51 | 23.42 | 38.37 | -24.32 | 61.63 | 25.02 | 0.69 | 0 | 27.72 | -12.14 |
| 2016 (3) | 35.26 | 13.16 | 9.00 | 66.67 | 2.47 | -3.91 | 17.66 | 65.82 | 14.89 | 66.18 | 4.58 | 48.22 | 3.65 | 48.37 | 0.25 | -10.71 | 20.25 | 52.48 | 25.53 | 1.03 | 50.70 | 1.41 | 49.30 | 2.7 | 0.00 | 0 | 31.55 | 13.61 |
| 2015 (2) | 31.16 | 2.06 | 5.40 | -25.21 | 2.57 | -6.03 | 10.65 | -41.45 | 8.96 | -41.25 | 3.09 | -46.45 | 2.46 | -46.52 | 0.28 | -6.67 | 13.28 | -37.03 | 25.27 | -1.06 | 50.00 | 25.68 | 48.00 | -20.29 | 0.00 | 0 | 27.77 | 9.07 |
| 2014 (1) | 30.53 | 0 | 7.22 | 0 | 2.73 | 0.75 | 18.19 | 0 | 15.25 | 0 | 5.77 | 0 | 4.60 | 0 | 0.30 | 3.45 | 21.09 | 34.67 | 25.54 | 0.16 | 39.78 | 1.12 | 60.22 | -0.73 | 0.00 | 0 | 25.46 | -14.22 |
