- 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) | 14.41 | -14.38 | -10.11 | -18.94 | -31.44 | -19.04 | -18.35 | -69.59 | -19.54 | -18.35 | -69.59 | -19.54 | -3.83 | -54.44 | 7.04 | -3.04 | -52.76 | 6.46 | 0.17 | -5.56 | -19.05 | -15.09 | -99.87 | -33.66 | 26.16 | 3.36 | -3.68 | 105.26 | -22.81 | 0.0 | -5.26 | 85.53 | 0.0 | 15.14 | -4.6 | -4.06 |
| 23Q3 (19) | 16.83 | -6.66 | 1.32 | -14.41 | -20.59 | -59.05 | -10.82 | -7.55 | -31.15 | -10.82 | -7.55 | -31.31 | -2.48 | 5.34 | -5.98 | -1.99 | 5.69 | -7.57 | 0.18 | -14.29 | -21.74 | -7.55 | -8.48 | -71.2 | 25.31 | 6.21 | -0.59 | 136.36 | 16.88 | 25.0 | -36.36 | -118.18 | -300.0 | 15.87 | 8.03 | 10.82 |
| 23Q2 (18) | 18.03 | 16.02 | 13.47 | -11.95 | 11.35 | 39.95 | -10.06 | 20.41 | 44.51 | -10.06 | 20.41 | 44.51 | -2.62 | 18.89 | 46.31 | -2.11 | 17.9 | 46.45 | 0.21 | 5.0 | -4.55 | -6.96 | 27.27 | 50.53 | 23.83 | -0.58 | -10.24 | 116.67 | 8.89 | 3.7 | -16.67 | -133.33 | -100.0 | 14.69 | 2.8 | 3.74 |
| 23Q1 (17) | 15.54 | -3.06 | 11.8 | -13.48 | 15.27 | 22.48 | -12.64 | 17.65 | 22.22 | -12.64 | 17.65 | 22.22 | -3.23 | 21.6 | 22.91 | -2.57 | 20.92 | 23.74 | 0.20 | -4.76 | -4.76 | -9.57 | 15.23 | 24.59 | 23.97 | -11.75 | 15.74 | 107.14 | 1.79 | 2.48 | -7.14 | -35.71 | 21.43 | 14.29 | -9.44 | -10.85 |
| 22Q4 (16) | 16.03 | -3.49 | 22.27 | -15.91 | -75.61 | 2.81 | -15.35 | -86.06 | 4.66 | -15.35 | -86.29 | 4.66 | -4.12 | -76.07 | 3.06 | -3.25 | -75.68 | 2.69 | 0.21 | -8.7 | 0.0 | -11.29 | -156.01 | 1.22 | 27.16 | 6.68 | 0.26 | 105.26 | -3.51 | 5.26 | -5.26 | 42.11 | 0 | 15.78 | 10.2 | 2.33 |
| 22Q3 (15) | 16.61 | 4.53 | -12.35 | -9.06 | 54.47 | 46.42 | -8.25 | 54.5 | 49.36 | -8.24 | 54.55 | 49.42 | -2.34 | 52.05 | 46.45 | -1.85 | 53.05 | 45.91 | 0.23 | 4.55 | 9.52 | -4.41 | 68.66 | 64.23 | 25.46 | -4.11 | -5.63 | 109.09 | -3.03 | 4.73 | -9.09 | -9.09 | -118.18 | 14.32 | 1.13 | -7.19 |
| 22Q2 (14) | 15.89 | 14.32 | -14.39 | -19.90 | -14.43 | -60.23 | -18.13 | -11.57 | -49.96 | -18.13 | -11.57 | -49.96 | -4.88 | -16.47 | -48.78 | -3.94 | -16.91 | -50.96 | 0.22 | 4.76 | 0.0 | -14.07 | -10.87 | -66.71 | 26.55 | 28.2 | -2.03 | 112.50 | 7.61 | 12.5 | -8.33 | 8.33 | -58.33 | 14.16 | -11.67 | -8.41 |
| 22Q1 (13) | 13.90 | 6.03 | -20.93 | -17.39 | -6.23 | -10.34 | -16.25 | -0.93 | -6.56 | -16.25 | -0.93 | -6.56 | -4.19 | 1.41 | -8.55 | -3.37 | -0.9 | -9.06 | 0.21 | 0.0 | 5.0 | -12.69 | -11.02 | -16.64 | 20.71 | -23.55 | -11.5 | 104.55 | 4.55 | 0.0 | -9.09 | 0 | -100.0 | 16.03 | 3.96 | 1.97 |
| 21Q4 (12) | 13.11 | -30.82 | -32.77 | -16.37 | 3.19 | -68.94 | -16.10 | 1.17 | -23.18 | -16.10 | 1.17 | -20.15 | -4.25 | 2.75 | -30.37 | -3.34 | 2.34 | -27.0 | 0.21 | 0.0 | 5.0 | -11.43 | 7.3 | -27.42 | 27.09 | 0.41 | 4.63 | 100.00 | -4.0 | 35.71 | -0.00 | 100.0 | -100.0 | 15.42 | -0.06 | -5.11 |
| 21Q3 (11) | 18.95 | 2.1 | -7.38 | -16.91 | -36.15 | -7.64 | -16.29 | -34.74 | -0.25 | -16.29 | -34.74 | -0.25 | -4.37 | -33.23 | -28.91 | -3.42 | -31.03 | -22.58 | 0.21 | -4.55 | 23.53 | -12.33 | -46.09 | -6.02 | 26.98 | -0.44 | 26.79 | 104.17 | 4.17 | 9.38 | -4.17 | 20.83 | -187.5 | 15.43 | -0.19 | -17.57 |
| 21Q2 (10) | 18.56 | 5.57 | -3.03 | -12.42 | 21.19 | 25.18 | -12.09 | 20.72 | 30.99 | -12.09 | 20.72 | 30.99 | -3.28 | 15.03 | 10.38 | -2.61 | 15.53 | 13.86 | 0.22 | 10.0 | 29.41 | -8.44 | 22.43 | 28.78 | 27.10 | 15.81 | 27.77 | 100.00 | -4.35 | 9.09 | -5.26 | -15.79 | -226.32 | 15.46 | -1.65 | 0 |
| 21Q1 (9) | 17.58 | -9.85 | -10.67 | -15.76 | -62.64 | -56.04 | -15.25 | -16.68 | -118.79 | -15.25 | -13.81 | -118.79 | -3.86 | -18.4 | -149.03 | -3.09 | -17.49 | -141.41 | 0.20 | 0.0 | 5.26 | -10.88 | -21.29 | -305.97 | 23.40 | -9.62 | 16.07 | 104.55 | 41.88 | -30.3 | -4.55 | -117.27 | 90.91 | 15.72 | -3.26 | 0 |
| 20Q4 (8) | 19.50 | -4.69 | 16.42 | -9.69 | 38.32 | 58.59 | -13.07 | 19.57 | 63.64 | -13.40 | 17.54 | 67.73 | -3.26 | 3.83 | 49.06 | -2.63 | 5.73 | 50.28 | 0.20 | 17.65 | 53.85 | -8.97 | 22.87 | 69.73 | 25.89 | 21.66 | 27.41 | 73.68 | -22.63 | 14.95 | 26.32 | 452.63 | -26.69 | 16.25 | -13.19 | 0 |
| 20Q3 (7) | 20.46 | 6.9 | 46.25 | -15.71 | 5.36 | 38.0 | -16.25 | 7.25 | 33.62 | -16.25 | 7.25 | 33.62 | -3.39 | 7.38 | 10.79 | -2.79 | 7.92 | 10.58 | 0.17 | 0.0 | 30.77 | -11.63 | 1.86 | 36.86 | 21.28 | 0.33 | 0.28 | 95.24 | 3.9 | -8.05 | 4.76 | 14.29 | 233.33 | 18.72 | 0 | -7.33 |
| 20Q2 (6) | 19.14 | -2.74 | 21.14 | -16.60 | -64.36 | 19.5 | -17.52 | -151.36 | -3.36 | -17.52 | -151.36 | -3.42 | -3.66 | -136.13 | -36.06 | -3.03 | -136.72 | -36.49 | 0.17 | -10.53 | 30.77 | -11.85 | -342.16 | -2.42 | 21.21 | 5.21 | -4.2 | 91.67 | -38.89 | -26.67 | 4.17 | 108.33 | 120.83 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 19.68 | 17.49 | 18.06 | -10.10 | 56.84 | 62.79 | -6.97 | 80.61 | 71.14 | -6.97 | 83.22 | 75.08 | -1.55 | 75.78 | 54.68 | -1.28 | 75.8 | 56.61 | 0.19 | 46.15 | 72.73 | -2.68 | 90.96 | 83.92 | 20.16 | -0.79 | 3.23 | 150.00 | 134.0 | 32.69 | -50.00 | -239.29 | -283.33 | 0.00 | 0 | -100.0 |
| 19Q4 (4) | 16.75 | 19.73 | 0.0 | -23.40 | 7.66 | 0.0 | -35.95 | -46.85 | 0.0 | -41.53 | -69.65 | 0.0 | -6.40 | -68.42 | 0.0 | -5.29 | -69.55 | 0.0 | 0.13 | 0.0 | 0.0 | -29.63 | -60.86 | 0.0 | 20.32 | -4.24 | 0.0 | 64.10 | -38.11 | 0.0 | 35.90 | 1105.13 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 13.99 | -11.46 | 0.0 | -25.34 | -22.89 | 0.0 | -24.48 | -44.42 | 0.0 | -24.48 | -44.51 | 0.0 | -3.80 | -41.26 | 0.0 | -3.12 | -40.54 | 0.0 | 0.13 | 0.0 | 0.0 | -18.42 | -59.2 | 0.0 | 21.22 | -4.16 | 0.0 | 103.57 | -17.14 | 0.0 | -3.57 | 82.14 | 0.0 | 20.20 | 1.76 | 0.0 |
| 19Q2 (2) | 15.80 | -5.22 | 0.0 | -20.62 | 24.02 | 0.0 | -16.95 | 29.81 | 0.0 | -16.94 | 39.44 | 0.0 | -2.69 | 21.35 | 0.0 | -2.22 | 24.75 | 0.0 | 0.13 | 18.18 | 0.0 | -11.57 | 30.59 | 0.0 | 22.14 | 13.36 | 0.0 | 125.00 | 10.58 | 0.0 | -20.00 | -53.33 | 0.0 | 19.85 | -16.74 | 0.0 |
| 19Q1 (1) | 16.67 | 0.0 | 0.0 | -27.14 | 0.0 | 0.0 | -24.15 | 0.0 | 0.0 | -27.97 | 0.0 | 0.0 | -3.42 | 0.0 | 0.0 | -2.95 | 0.0 | 0.0 | 0.11 | 0.0 | 0.0 | -16.67 | 0.0 | 0.0 | 19.53 | 0.0 | 0.0 | 113.04 | 0.0 | 0.0 | -13.04 | 0.0 | 0.0 | 23.84 | 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) | 16.23 | 3.97 | -14.62 | 0 | 3.41 | -14.12 | -12.90 | 0 | -12.90 | 0 | -11.57 | 0 | -9.13 | 0 | 0.71 | -15.48 | -9.55 | 0 | 26.16 | -3.68 | 112.28 | 4.07 | -14.04 | 0 | 0.00 | 0 | 14.98 | -0.47 |
| 2022 (9) | 15.61 | -8.77 | -15.54 | 0 | 3.97 | -2.74 | -14.46 | 0 | -14.46 | 0 | -15.50 | 0 | -12.16 | 0 | 0.84 | 1.2 | -10.40 | 0 | 27.16 | 0.26 | 107.89 | 4.3 | -7.89 | 0 | 0.00 | 0 | 15.05 | -2.9 |
| 2021 (8) | 17.11 | -13.06 | -15.32 | 0 | 4.08 | -5.1 | -14.88 | 0 | -14.88 | 0 | -15.62 | 0 | -12.31 | 0 | 0.83 | 15.28 | -10.71 | 0 | 27.09 | 4.63 | 103.45 | 6.32 | -3.45 | 0 | 0.00 | 0 | 15.50 | -10.92 |
| 2020 (7) | 19.68 | 24.95 | -12.86 | 0 | 4.30 | -17.91 | -13.26 | 0 | -13.34 | 0 | -11.80 | 0 | -9.56 | 0 | 0.72 | 41.18 | -8.60 | 0 | 25.89 | 27.41 | 97.30 | 1.93 | 2.70 | -40.54 | 0.00 | 0 | 17.40 | -20.91 |
| 2019 (6) | 15.75 | 2.67 | -23.96 | 0 | 5.24 | 169.16 | -25.15 | 0 | -27.35 | 0 | -16.30 | 0 | -14.05 | 0 | 0.51 | 21.43 | -19.13 | 0 | 20.32 | 68.07 | 95.45 | -23.64 | 4.55 | 0 | 0.25 | -55.96 | 22.00 | -8.9 |
| 2018 (5) | 15.34 | -40.22 | -27.86 | 0 | 1.95 | 12.65 | -22.32 | 0 | -22.32 | 0 | -10.42 | 0 | -9.39 | 0 | 0.42 | 13.51 | -19.22 | 0 | 12.09 | 20.18 | 125.00 | 89.02 | -25.00 | 0 | 0.56 | 0 | 24.15 | 14.4 |
| 2017 (4) | 25.66 | -38.32 | -17.78 | 0 | 1.73 | 241.62 | -26.70 | 0 | -24.68 | 0 | -10.49 | 0 | -9.23 | 0 | 0.37 | -66.06 | -23.76 | 0 | 10.06 | -39.21 | 66.13 | -34.79 | 33.06 | 0 | 0.00 | 0 | 21.11 | 156.19 |
| 2016 (3) | 41.60 | 6.12 | 25.88 | 6.41 | 0.51 | 4.53 | 25.48 | -2.3 | 19.37 | -20.12 | 27.84 | -54.3 | 21.12 | -42.81 | 1.09 | -27.81 | 26.52 | -4.4 | 16.55 | -71.63 | 101.42 | 8.47 | -1.70 | 0 | 0.00 | 0 | 8.24 | 4.83 |
| 2015 (2) | 39.20 | 30.62 | 24.32 | 5980.0 | 0.48 | -57.52 | 26.08 | 855.31 | 24.25 | 954.35 | 60.92 | 1515.92 | 36.93 | 1304.18 | 1.51 | 60.64 | 27.74 | 280.52 | 58.34 | -34.21 | 93.50 | 460.99 | 6.81 | -91.83 | 0.00 | 0 | 7.86 | -40.68 |
| 2014 (1) | 30.01 | 0 | 0.40 | 0 | 1.14 | 12.0 | 2.73 | 0 | 2.30 | 0 | 3.77 | 0 | 2.63 | 0 | 0.94 | 20.51 | 7.29 | 34.5 | 88.68 | 47.26 | 16.67 | 0 | 83.33 | 0 | 0.00 | 0 | 13.25 | -20.99 |
