- 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) | 6.37 | -3.19 | -12.38 | 2.29 | -26.13 | -25.65 | 1.60 | -4.19 | -21.18 | 1.25 | -8.09 | -20.38 | 2.58 | -12.84 | -15.13 | 1.12 | -11.11 | -11.11 | 0.47 | -9.62 | -6.0 | 3.25 | -0.61 | -6.34 | 340.85 | 0.59 | 30.04 | 143.79 | -22.52 | -4.93 | -43.45 | 49.23 | 15.22 | 2.57 | 9.36 | -8.87 |
| 23Q3 (19) | 6.58 | 9.48 | -13.42 | 3.10 | 23.51 | -15.99 | 1.67 | 33.6 | -42.01 | 1.36 | 76.62 | -33.66 | 2.96 | 92.21 | -30.68 | 1.26 | 34.04 | -10.0 | 0.52 | -3.7 | -1.89 | 3.27 | 20.22 | -15.5 | 338.85 | 11.95 | 10.89 | 185.58 | -7.63 | 44.92 | -85.58 | 15.2 | -205.05 | 2.35 | -2.89 | -14.86 |
| 23Q2 (18) | 6.01 | -5.65 | -30.92 | 2.51 | 1.21 | -47.93 | 1.25 | -8.76 | -70.73 | 0.77 | -25.24 | -75.32 | 1.54 | -16.3 | -77.55 | 0.94 | -11.32 | -52.28 | 0.54 | 5.88 | -6.9 | 2.72 | -7.8 | -44.83 | 302.68 | 28.98 | 11.02 | 200.91 | 10.48 | 77.95 | -100.91 | -23.28 | -682.08 | 2.42 | -7.28 | -9.7 |
| 23Q1 (17) | 6.37 | -12.38 | -17.27 | 2.48 | -19.48 | -37.53 | 1.37 | -32.51 | -66.99 | 1.03 | -34.39 | -65.55 | 1.84 | -39.47 | -71.78 | 1.06 | -15.87 | -44.21 | 0.51 | 2.0 | -13.56 | 2.95 | -14.99 | -37.1 | 234.68 | -10.47 | -19.84 | 181.86 | 20.24 | 90.26 | -81.86 | -59.73 | -2015.49 | 2.61 | -7.45 | -5.78 |
| 22Q4 (16) | 7.27 | -4.34 | -2.68 | 3.08 | -16.53 | -9.68 | 2.03 | -29.51 | -40.99 | 1.57 | -23.41 | -37.45 | 3.04 | -28.81 | -49.42 | 1.26 | -10.0 | -30.39 | 0.50 | -5.66 | -25.37 | 3.47 | -10.34 | -11.48 | 262.12 | -14.22 | 7.77 | 151.25 | 18.11 | 52.46 | -51.25 | -82.67 | -6557.06 | 2.82 | 2.17 | 1.08 |
| 22Q3 (15) | 7.60 | -12.64 | -2.44 | 3.69 | -23.44 | -9.78 | 2.88 | -32.55 | -27.46 | 2.05 | -34.29 | -24.63 | 4.27 | -37.76 | -45.4 | 1.40 | -28.93 | -35.48 | 0.53 | -8.62 | -29.33 | 3.87 | -21.5 | -12.24 | 305.57 | 12.08 | 13.22 | 128.05 | 13.42 | 24.22 | -28.05 | -117.41 | -808.23 | 2.76 | 2.99 | 6.15 |
| 22Q2 (14) | 8.70 | 12.99 | 23.58 | 4.82 | 21.41 | 28.19 | 4.27 | 2.89 | 20.28 | 3.12 | 4.35 | 27.87 | 6.86 | 5.21 | -8.29 | 1.97 | 3.68 | -3.9 | 0.58 | -1.69 | -25.64 | 4.93 | 5.12 | 22.33 | 272.63 | -6.87 | -8.12 | 112.90 | 18.12 | 6.63 | -12.90 | -401.94 | -125.13 | 2.68 | -3.25 | 15.52 |
| 22Q1 (13) | 7.70 | 3.08 | 27.91 | 3.97 | 16.42 | 58.17 | 4.15 | 20.64 | 72.2 | 2.99 | 19.12 | 72.83 | 6.52 | 8.49 | 42.05 | 1.90 | 4.97 | 39.71 | 0.59 | -11.94 | -14.49 | 4.69 | 19.64 | 57.38 | 292.75 | 20.36 | 1.82 | 95.58 | -3.65 | -8.5 | 4.27 | 438.46 | 201.76 | 2.77 | -0.72 | 17.37 |
| 21Q4 (12) | 7.47 | -4.11 | 48.51 | 3.41 | -16.63 | 140.14 | 3.44 | -13.35 | 120.51 | 2.51 | -7.72 | 130.28 | 6.01 | -23.15 | 111.62 | 1.81 | -16.59 | 98.9 | 0.67 | -10.67 | -1.47 | 3.92 | -11.11 | 82.33 | 243.23 | -9.87 | -11.95 | 99.21 | -3.77 | 9.53 | 0.79 | 125.69 | -91.58 | 2.79 | 7.31 | 9.84 |
| 21Q3 (11) | 7.79 | 10.65 | 57.37 | 4.09 | 8.78 | 157.23 | 3.97 | 11.83 | 123.03 | 2.72 | 11.48 | 100.0 | 7.82 | 4.55 | 93.09 | 2.17 | 5.85 | 82.35 | 0.75 | -3.85 | 0.0 | 4.41 | 9.43 | 89.27 | 269.88 | -9.05 | -5.52 | 103.09 | -2.64 | 15.46 | -3.09 | 46.11 | -128.83 | 2.60 | 12.07 | 19.27 |
| 21Q2 (10) | 7.04 | 16.94 | 31.59 | 3.76 | 49.8 | 96.86 | 3.55 | 47.3 | 92.93 | 2.44 | 41.04 | 67.12 | 7.48 | 62.96 | 106.63 | 2.05 | 50.74 | 89.81 | 0.78 | 13.04 | 34.48 | 4.03 | 35.23 | 51.5 | 296.72 | 3.2 | -5.53 | 105.88 | 1.36 | 1.92 | -5.73 | -36.48 | -47.3 | 2.32 | -1.69 | 0 |
| 21Q1 (9) | 6.02 | 19.68 | 2.21 | 2.51 | 76.76 | 35.68 | 2.41 | 54.49 | 123.15 | 1.73 | 58.72 | 118.99 | 4.59 | 61.62 | 183.33 | 1.36 | 49.45 | 106.06 | 0.69 | 1.47 | 43.75 | 2.98 | 38.6 | 36.7 | 287.51 | 4.08 | -16.04 | 104.46 | 15.33 | -39.19 | -4.20 | -144.55 | 94.15 | 2.36 | -7.09 | 0 |
| 20Q4 (8) | 5.03 | 1.62 | 8.17 | 1.42 | -10.69 | 91.89 | 1.56 | -12.36 | 372.73 | 1.09 | -19.85 | 395.45 | 2.84 | -29.88 | 479.59 | 0.91 | -23.53 | 102.22 | 0.68 | -9.33 | 19.3 | 2.15 | -7.73 | 54.68 | 276.25 | -3.29 | -11.68 | 90.57 | 1.44 | -58.91 | 9.43 | -12.02 | 107.83 | 2.54 | 16.51 | 0 |
| 20Q3 (7) | 4.95 | -7.48 | -12.08 | 1.59 | -16.75 | -6.47 | 1.78 | -3.26 | 137.33 | 1.36 | -6.85 | 147.27 | 4.05 | 11.88 | 224.0 | 1.19 | 10.19 | 72.46 | 0.75 | 29.31 | 29.31 | 2.33 | -12.41 | 24.6 | 285.64 | -9.06 | -1.93 | 89.29 | -14.06 | -60.76 | 10.71 | 375.36 | 108.4 | 2.18 | 0 | -8.79 |
| 20Q2 (6) | 5.35 | -9.17 | -19.43 | 1.91 | 3.24 | -11.98 | 1.84 | 70.37 | 89.69 | 1.46 | 84.81 | 94.67 | 3.62 | 123.46 | 142.95 | 1.08 | 63.64 | 44.0 | 0.58 | 20.83 | 16.0 | 2.66 | 22.02 | 17.7 | 314.10 | -8.27 | 5.17 | 103.89 | -39.52 | -53.23 | -3.89 | 94.58 | 96.81 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 5.89 | 26.67 | -6.66 | 1.85 | 150.0 | 6.32 | 1.08 | 227.27 | 9.09 | 0.79 | 259.09 | 11.27 | 1.62 | 230.61 | 27.56 | 0.66 | 46.67 | -4.35 | 0.48 | -15.79 | 11.63 | 2.18 | 56.83 | -11.74 | 342.43 | 9.48 | 15.55 | 171.77 | -22.08 | -1.84 | -71.77 | 40.41 | 4.3 | 0.00 | 0 | -100.0 |
| 19Q4 (4) | 4.65 | -17.41 | 0.0 | 0.74 | -56.47 | 0.0 | 0.33 | -56.0 | 0.0 | 0.22 | -60.0 | 0.0 | 0.49 | -60.8 | 0.0 | 0.45 | -34.78 | 0.0 | 0.57 | -1.72 | 0.0 | 1.39 | -25.67 | 0.0 | 312.78 | 7.39 | 0.0 | 220.45 | -3.12 | 0.0 | -120.45 | 5.56 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 5.63 | -15.21 | 0.0 | 1.70 | -21.66 | 0.0 | 0.75 | -22.68 | 0.0 | 0.55 | -26.67 | 0.0 | 1.25 | -16.11 | 0.0 | 0.69 | -8.0 | 0.0 | 0.58 | 16.0 | 0.0 | 1.87 | -17.26 | 0.0 | 291.26 | -2.48 | 0.0 | 227.55 | 2.44 | 0.0 | -127.55 | -4.44 | 0.0 | 2.39 | -13.72 | 0.0 |
| 19Q2 (2) | 6.64 | 5.23 | 0.0 | 2.17 | 24.71 | 0.0 | 0.97 | -2.02 | 0.0 | 0.75 | 5.63 | 0.0 | 1.49 | 17.32 | 0.0 | 0.75 | 8.7 | 0.0 | 0.50 | 16.28 | 0.0 | 2.26 | -8.5 | 0.0 | 298.66 | 0.78 | 0.0 | 222.12 | 26.93 | 0.0 | -122.12 | -62.83 | 0.0 | 2.77 | -11.22 | 0.0 |
| 19Q1 (1) | 6.31 | 0.0 | 0.0 | 1.74 | 0.0 | 0.0 | 0.99 | 0.0 | 0.0 | 0.71 | 0.0 | 0.0 | 1.27 | 0.0 | 0.0 | 0.69 | 0.0 | 0.0 | 0.43 | 0.0 | 0.0 | 2.47 | 0.0 | 0.0 | 296.34 | 0.0 | 0.0 | 175.00 | 0.0 | 0.0 | -75.00 | 0.0 | 0.0 | 3.12 | 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) | 6.34 | -18.82 | 2.60 | -32.99 | 0.24 | 2.12 | 1.48 | -55.42 | 1.11 | -54.13 | 8.77 | -55.59 | 4.28 | -36.78 | 1.97 | -14.72 | 3.06 | -27.66 | 340.85 | 30.04 | 176.31 | 50.59 | -76.31 | 0 | 0.02 | -45.26 | 2.48 | -10.14 |
| 2022 (9) | 7.81 | 9.54 | 3.88 | 11.17 | 0.24 | 8.24 | 3.32 | -2.06 | 2.42 | 1.68 | 19.75 | -19.12 | 6.77 | -8.14 | 2.31 | -19.51 | 4.23 | 9.3 | 262.12 | 7.77 | 117.08 | 13.61 | -17.08 | 0 | 0.03 | -69.63 | 2.76 | 9.52 |
| 2021 (8) | 7.13 | 35.81 | 3.49 | 108.98 | 0.22 | -16.69 | 3.39 | 111.87 | 2.38 | 98.33 | 24.42 | 105.04 | 7.37 | 88.97 | 2.87 | 13.44 | 3.87 | 66.09 | 243.23 | -11.95 | 103.06 | -1.48 | -3.02 | 0 | 0.11 | -53.89 | 2.52 | 5.0 |
| 2020 (7) | 5.25 | -8.7 | 1.67 | 7.05 | 0.26 | -17.98 | 1.60 | 116.22 | 1.20 | 122.22 | 11.91 | 162.33 | 3.90 | 59.18 | 2.53 | 28.43 | 2.33 | 18.88 | 276.25 | -11.68 | 104.61 | -50.27 | -4.61 | 0 | 0.24 | -4.74 | 2.40 | -9.09 |
| 2019 (6) | 5.75 | -10.44 | 1.56 | -34.73 | 0.32 | 957.56 | 0.74 | -55.95 | 0.54 | -54.24 | 4.54 | -59.21 | 2.45 | -38.29 | 1.97 | -13.22 | 1.96 | -19.34 | 312.78 | -8.02 | 210.34 | 47.3 | -110.34 | 0 | 0.25 | 605.68 | 2.64 | 1.54 |
| 2018 (5) | 6.42 | 18.89 | 2.39 | 35.8 | 0.03 | -2.0 | 1.68 | 5.66 | 1.18 | -3.28 | 11.13 | -6.0 | 3.97 | -3.64 | 2.27 | -10.28 | 2.43 | 13.55 | 340.06 | 16.78 | 142.79 | 29.64 | -42.79 | 0 | 0.04 | -17.59 | 2.60 | 8.33 |
| 2017 (4) | 5.40 | -3.05 | 1.76 | 23.08 | 0.03 | -29.07 | 1.59 | 47.22 | 1.22 | 37.08 | 11.84 | 51.99 | 4.12 | 39.19 | 2.53 | 4.55 | 2.14 | 38.96 | 291.19 | 4.18 | 110.14 | -16.99 | -10.27 | 0 | 0.04 | 0 | 2.40 | -5.88 |
| 2016 (3) | 5.57 | -12.28 | 1.43 | -26.67 | 0.04 | -6.28 | 1.08 | -31.21 | 0.89 | -27.05 | 7.79 | -23.7 | 2.96 | -17.78 | 2.42 | 0.0 | 1.54 | -21.43 | 279.50 | 16.47 | 132.70 | 6.44 | -32.70 | 0 | 0.00 | 0 | 2.55 | -7.61 |
| 2015 (2) | 6.35 | 3.08 | 1.95 | 1.56 | 0.05 | 8.86 | 1.57 | -4.27 | 1.22 | -3.94 | 10.21 | -15.13 | 3.60 | -9.09 | 2.42 | -6.92 | 1.96 | -2.49 | 239.97 | -5.61 | 124.67 | 7.07 | -24.67 | 0 | 0.00 | 0 | 2.76 | 5.34 |
| 2014 (1) | 6.16 | 0 | 1.92 | 0 | 0.04 | -29.12 | 1.64 | 0 | 1.27 | 0 | 12.03 | 0 | 3.96 | 0 | 2.60 | 2.77 | 2.01 | -13.36 | 254.22 | -8.47 | 116.44 | 19.34 | -16.44 | 0 | 0.00 | 0 | 2.62 | -11.19 |
