- 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) | 12.27 | 21.25 | 501.47 | -0.93 | 79.87 | 93.24 | -6.34 | -945.33 | 66.33 | -8.13 | -874.29 | 38.55 | -2.44 | -913.33 | 12.23 | -1.45 | -680.0 | 14.71 | 0.19 | 5.56 | 46.15 | -0.90 | -114.35 | 92.56 | 64.97 | 10.96 | 18.93 | 14.29 | 102.45 | -80.44 | 85.71 | -87.14 | 217.97 | 20.10 | -1.86 | -13.25 |
| 23Q3 (19) | 10.12 | 6.41 | -1.65 | -4.62 | 47.91 | 15.69 | 0.75 | 108.99 | -75.17 | 1.05 | 110.69 | -12.5 | 0.30 | 113.57 | 7.14 | 0.25 | 118.8 | 19.05 | 0.18 | 28.57 | 28.57 | 6.27 | 567.91 | -30.64 | 58.55 | -3.37 | -6.92 | -583.33 | -650.31 | -222.37 | 666.67 | 11211.11 | 141.38 | 20.48 | -15.72 | -12.96 |
| 23Q2 (18) | 9.51 | 1180.68 | -43.12 | -8.87 | 61.18 | -482.33 | -8.34 | 62.5 | -177.15 | -9.82 | 56.28 | -233.42 | -2.21 | 48.48 | -192.47 | -1.33 | 50.74 | -194.33 | 0.14 | 16.67 | -26.32 | -1.34 | 90.69 | -108.97 | 60.59 | 8.02 | -15.99 | 106.00 | 3.39 | 401.09 | -6.00 | -138.0 | -107.7 | 24.30 | -15.09 | 20.54 |
| 23Q1 (17) | -0.88 | -143.14 | -106.47 | -22.85 | -66.18 | -6820.59 | -22.24 | -18.11 | -717.78 | -22.46 | -69.77 | -1047.68 | -4.29 | -54.32 | -650.0 | -2.70 | -58.82 | -662.5 | 0.12 | -7.69 | -36.84 | -14.39 | -19.02 | -288.35 | 56.09 | 2.67 | -25.11 | 102.52 | 40.36 | 1096.08 | -2.52 | -109.35 | -102.85 | 28.62 | 23.52 | 46.84 |
| 22Q4 (16) | 2.04 | -80.17 | -89.61 | -13.75 | -150.91 | -269.54 | -18.83 | -723.51 | -372.11 | -13.23 | -1202.5 | -362.5 | -2.78 | -1092.86 | -227.52 | -1.70 | -909.52 | -232.81 | 0.13 | -7.14 | -48.0 | -12.09 | -233.74 | -217.84 | 54.63 | -13.15 | -28.18 | 73.04 | 140.37 | -37.7 | 26.96 | -90.24 | 256.35 | 23.17 | -1.53 | 58.37 |
| 22Q3 (15) | 10.29 | -38.46 | -33.53 | -5.48 | -336.21 | -231.73 | 3.02 | -72.06 | -66.85 | 1.20 | -83.7 | -84.64 | 0.28 | -88.28 | -90.34 | 0.21 | -85.11 | -87.43 | 0.14 | -26.32 | -33.33 | 9.04 | -39.49 | -30.99 | 62.90 | -12.78 | -17.55 | -180.95 | -955.41 | -498.92 | 276.19 | 254.61 | 405.48 | 23.53 | 16.72 | 17.12 |
| 22Q2 (14) | 16.72 | 22.85 | 3.79 | 2.32 | 582.35 | -46.05 | 10.81 | 200.28 | 104.73 | 7.36 | 210.55 | 75.66 | 2.39 | 206.41 | 65.97 | 1.41 | 193.75 | 62.07 | 0.19 | 0.0 | -5.0 | 14.94 | 95.55 | 47.92 | 72.12 | -3.71 | -6.73 | 21.15 | 146.79 | -74.31 | 77.88 | -12.07 | 297.21 | 20.16 | 3.44 | -0.54 |
| 22Q1 (13) | 13.61 | -30.7 | 0.52 | 0.34 | -95.81 | 156.67 | 3.60 | -47.98 | 634.69 | 2.37 | -52.98 | 488.52 | 0.78 | -64.22 | 510.53 | 0.48 | -62.5 | 785.71 | 0.19 | -24.0 | 5.56 | 7.64 | -25.54 | 41.48 | 74.90 | -1.54 | 11.29 | 8.57 | -92.69 | 106.86 | 88.57 | 613.71 | -60.63 | 19.49 | 33.22 | -10.47 |
| 21Q4 (12) | 19.64 | 26.87 | 171.65 | 8.11 | 94.95 | 262.2 | 6.92 | -24.04 | 188.72 | 5.04 | -35.47 | 157.6 | 2.18 | -24.83 | 175.43 | 1.28 | -23.35 | 172.73 | 0.25 | 19.05 | 25.0 | 10.26 | -21.68 | 494.62 | 76.07 | -0.29 | 23.03 | 117.24 | 158.46 | 83.19 | -17.24 | -131.55 | -147.89 | 14.63 | -27.18 | -32.36 |
| 21Q3 (11) | 15.48 | -3.91 | 47.29 | 4.16 | -3.26 | 174.02 | 9.11 | 72.54 | 250.58 | 7.81 | 86.4 | 201.83 | 2.90 | 101.39 | 226.64 | 1.67 | 91.95 | 222.79 | 0.21 | 5.0 | 16.67 | 13.10 | 29.7 | 3011.11 | 76.29 | -1.33 | 25.64 | 45.36 | -44.92 | -51.01 | 54.64 | 178.66 | 637.63 | 20.09 | -0.89 | -3.97 |
| 21Q2 (10) | 16.11 | 18.98 | 201.12 | 4.30 | 816.67 | 145.17 | 5.28 | 977.55 | 185.44 | 4.19 | 786.89 | 173.9 | 1.44 | 857.89 | 184.71 | 0.87 | 1342.86 | 188.78 | 0.20 | 11.11 | 11.11 | 10.10 | 87.04 | 2960.61 | 77.32 | 14.89 | 19.78 | 82.35 | 165.88 | -46.99 | 19.61 | -91.29 | 136.6 | 20.27 | -6.89 | 0 |
| 21Q1 (9) | 13.54 | 87.28 | 219.34 | -0.60 | 88.0 | 92.8 | 0.49 | 106.28 | 107.2 | -0.61 | 93.03 | 91.15 | -0.19 | 93.43 | 92.34 | -0.07 | 96.02 | 95.14 | 0.18 | -10.0 | -14.29 | 5.40 | 307.69 | 656.7 | 67.30 | 8.85 | 0.76 | -125.00 | -295.31 | -202.39 | 225.00 | 525.0 | 1119.12 | 21.77 | 0.65 | 13.09 |
| 20Q4 (8) | 7.23 | -31.21 | 7.91 | -5.00 | 11.03 | -1.63 | -7.80 | -28.93 | 18.15 | -8.75 | -14.08 | -31.18 | -2.89 | -26.2 | -2.48 | -1.76 | -29.41 | -7.32 | 0.20 | 11.11 | -20.0 | -2.60 | -477.78 | 36.12 | 61.83 | 1.83 | -9.09 | 64.00 | -30.88 | 24.29 | 36.00 | 386.0 | -25.78 | 21.63 | 3.39 | 0 |
| 20Q3 (7) | 10.51 | 96.45 | 428.14 | -5.62 | 40.97 | 40.09 | -6.05 | 2.1 | 42.38 | -7.67 | -35.27 | 21.65 | -2.29 | -34.71 | 40.21 | -1.36 | -38.78 | 39.82 | 0.18 | 0.0 | -25.0 | -0.45 | -236.36 | 90.57 | 60.72 | -5.93 | -7.1 | 92.59 | -40.4 | 3.44 | 7.41 | 113.83 | -29.38 | 20.92 | 0 | 16.22 |
| 20Q2 (6) | 5.35 | 26.18 | 259.06 | -9.52 | -14.29 | 17.93 | -6.18 | 9.25 | 42.3 | -5.67 | 17.71 | 37.69 | -1.70 | 31.45 | 43.71 | -0.98 | 31.94 | 44.0 | 0.18 | -14.29 | -10.0 | 0.33 | 134.02 | 111.04 | 64.55 | -3.35 | -3.74 | 155.36 | 27.26 | 43.15 | -53.57 | -142.65 | -528.25 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 4.24 | -36.72 | 2550.0 | -8.33 | -69.31 | 23.72 | -6.81 | 28.54 | 39.14 | -6.89 | -3.3 | 26.86 | -2.48 | 12.06 | 31.49 | -1.44 | 12.2 | 30.43 | 0.21 | -16.0 | -4.55 | -0.97 | 76.17 | 79.54 | 66.79 | -1.79 | -4.35 | 122.08 | 137.08 | 24.41 | -22.08 | -145.51 | -983.12 | 19.25 | 0 | 2.28 |
| 19Q4 (4) | 6.70 | 236.68 | 0.0 | -4.92 | 47.55 | 0.0 | -9.53 | 9.24 | 0.0 | -6.67 | 31.87 | 0.0 | -2.82 | 26.37 | 0.0 | -1.64 | 27.43 | 0.0 | 0.25 | 4.17 | 0.0 | -4.07 | 14.68 | 0.0 | 68.01 | 4.05 | 0.0 | 51.49 | -42.47 | 0.0 | 48.51 | 362.44 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 1.99 | 33.56 | 0.0 | -9.38 | 19.14 | 0.0 | -10.50 | 1.96 | 0.0 | -9.79 | -7.58 | 0.0 | -3.83 | -26.82 | 0.0 | -2.26 | -29.14 | 0.0 | 0.24 | 20.0 | 0.0 | -4.77 | -59.53 | 0.0 | 65.36 | -2.54 | 0.0 | 89.51 | -17.52 | 0.0 | 10.49 | 223.01 | 0.0 | 18.00 | -11.94 | 0.0 |
| 19Q2 (2) | 1.49 | 831.25 | 0.0 | -11.60 | -6.23 | 0.0 | -10.71 | 4.29 | 0.0 | -9.10 | 3.4 | 0.0 | -3.02 | 16.57 | 0.0 | -1.75 | 15.46 | 0.0 | 0.20 | -9.09 | 0.0 | -2.99 | 36.92 | 0.0 | 67.06 | -3.97 | 0.0 | 108.53 | 10.6 | 0.0 | -8.53 | -441.09 | 0.0 | 20.44 | 8.61 | 0.0 |
| 19Q1 (1) | 0.16 | 0.0 | 0.0 | -10.92 | 0.0 | 0.0 | -11.19 | 0.0 | 0.0 | -9.42 | 0.0 | 0.0 | -3.62 | 0.0 | 0.0 | -2.07 | 0.0 | 0.0 | 0.22 | 0.0 | 0.0 | -4.74 | 0.0 | 0.0 | 69.83 | 0.0 | 0.0 | 98.12 | 0.0 | 0.0 | 2.50 | 0.0 | 0.0 | 18.82 | 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) | 8.39 | -27.86 | -8.17 | 0 | 5.65 | 25.53 | -7.99 | 0 | -8.80 | 0 | -8.68 | 0 | -5.19 | 0 | 0.62 | -7.46 | -1.66 | 0 | 64.97 | 18.93 | 102.36 | 0 | -2.36 | 0 | 0.00 | 0 | 22.86 | 7.58 |
| 2022 (9) | 11.63 | -29.43 | -2.98 | 0 | 4.50 | 19.18 | 1.36 | -76.35 | 0.64 | -85.32 | 0.71 | -88.66 | 0.60 | -84.46 | 0.67 | -21.18 | 6.33 | -36.38 | 54.63 | -28.18 | -218.18 | 0 | 318.18 | 1257.95 | 0.00 | 0 | 21.25 | 12.85 |
| 2021 (8) | 16.48 | 147.08 | 4.39 | 0 | 3.77 | -29.74 | 5.75 | 0 | 4.36 | 0 | 6.26 | 0 | 3.86 | 0 | 0.85 | 10.39 | 9.95 | 0 | 76.07 | 23.03 | 76.57 | -28.1 | 23.43 | 0 | 0.00 | 0 | 18.83 | -9.6 |
| 2020 (7) | 6.67 | 155.56 | -7.17 | 0 | 5.37 | -9.53 | -6.74 | 0 | -7.24 | 0 | -9.20 | 0 | -5.41 | 0 | 0.77 | -15.38 | -0.95 | 0 | 61.83 | -9.09 | 106.49 | 22.26 | -6.49 | 0 | 0.00 | 0 | 20.83 | 14.2 |
| 2019 (6) | 2.61 | -42.51 | -9.13 | 0 | 5.94 | 38.97 | -10.48 | 0 | -8.73 | 0 | -13.46 | 0 | -7.74 | 0 | 0.91 | -8.08 | -4.20 | 0 | 68.01 | -4.65 | 87.10 | -23.84 | 12.90 | 0 | 0.00 | 0 | 18.24 | -2.98 |
| 2018 (5) | 4.54 | -43.46 | -5.74 | 0 | 4.27 | 25.02 | -5.02 | 0 | -5.48 | 0 | -9.33 | 0 | -5.31 | 0 | 0.99 | -1.0 | -0.50 | 0 | 71.33 | -1.11 | 114.37 | 0 | -14.37 | 0 | 0.00 | 0 | 18.80 | 22.88 |
| 2017 (4) | 8.03 | -33.8 | -0.98 | 0 | 3.42 | 13.01 | 0.00 | 0 | 0.55 | -80.22 | 0.93 | -79.91 | 0.65 | -78.04 | 1.00 | -3.85 | 3.72 | -51.5 | 72.13 | 5.53 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 15.30 | 9.05 |
| 2016 (3) | 12.13 | -32.98 | 3.56 | -59.96 | 3.02 | 19.3 | 4.35 | -70.35 | 2.78 | -71.69 | 4.63 | -69.72 | 2.96 | -71.29 | 1.04 | 0.0 | 7.67 | -55.77 | 68.35 | 28.96 | 81.87 | 35.09 | 18.13 | -53.98 | 0.00 | 0 | 14.03 | -1.34 |
| 2015 (2) | 18.10 | -10.53 | 8.89 | -14.11 | 2.54 | -7.43 | 14.67 | 5.24 | 9.82 | -8.99 | 15.29 | -0.84 | 10.31 | -3.37 | 1.04 | 6.12 | 17.34 | 2.97 | 53.00 | 17.46 | 60.60 | -18.41 | 39.40 | 53.17 | 0.00 | 0 | 14.22 | -7.84 |
| 2014 (1) | 20.23 | 0 | 10.35 | 0 | 2.74 | -10.83 | 13.94 | 0 | 10.79 | 0 | 15.42 | 0 | 10.67 | 0 | 0.98 | 6.52 | 16.84 | 16.94 | 45.12 | -1.83 | 74.28 | 5.06 | 25.72 | -12.61 | 0.00 | 0 | 15.43 | 4.54 |
