- 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) | 33.74 | -0.76 | 33.89 | 11.46 | 56.99 | 176.81 | -3.58 | -190.86 | 77.6 | -4.59 | -223.72 | 73.19 | -0.30 | -220.0 | 69.07 | 0.32 | -11.11 | 245.45 | 0.03 | 0.0 | 0.0 | 23.31 | -19.31 | 54.99 | 93.15 | -4.03 | -4.98 | -300.00 | -250.0 | -417.65 | 400.00 | 500.0 | 7100.0 | 19.72 | 53.94 | -11.89 |
| 23Q3 (19) | 34.00 | -1.36 | -17.58 | 7.30 | -27.15 | -47.93 | 3.94 | -7.08 | -17.23 | 3.71 | -12.09 | -22.06 | 0.25 | -13.79 | -35.9 | 0.36 | -10.0 | -21.74 | 0.03 | 0.0 | -25.0 | 28.89 | 0.73 | 10.18 | 97.06 | 1.67 | -2.03 | 200.00 | -14.29 | -30.43 | -100.00 | 25.0 | 46.67 | 12.81 | 8.38 | -14.31 |
| 23Q2 (18) | 34.47 | -3.07 | -18.61 | 10.02 | 11.96 | 19.57 | 4.24 | 39.47 | 18.11 | 4.22 | 38.82 | 17.55 | 0.29 | 38.1 | 16.0 | 0.40 | 14.29 | 8.11 | 0.03 | 0.0 | -25.0 | 28.68 | 5.4 | 4.44 | 95.47 | -0.09 | -6.12 | 233.33 | -22.22 | -2.78 | -133.33 | 33.33 | 4.76 | 11.82 | -7.94 | -29.22 |
| 23Q1 (17) | 35.56 | 41.11 | -17.97 | 8.95 | 159.99 | -17.21 | 3.04 | 119.02 | -54.22 | 3.04 | 117.76 | -53.01 | 0.21 | 121.65 | -58.0 | 0.35 | 259.09 | -27.08 | 0.03 | 0.0 | -25.0 | 27.21 | 80.92 | -1.91 | 95.56 | -2.52 | -5.97 | 300.00 | 217.65 | 76.47 | -200.00 | -3700.0 | -233.33 | 12.84 | -42.63 | -24.87 |
| 22Q4 (16) | 25.20 | -38.91 | -31.87 | -14.92 | -206.42 | -228.4 | -15.98 | -435.71 | -198.89 | -17.12 | -459.66 | -219.47 | -0.97 | -348.72 | -182.2 | -0.22 | -147.83 | -126.19 | 0.03 | -25.0 | -25.0 | 15.04 | -42.64 | -58.64 | 98.03 | -1.05 | -4.81 | 94.44 | -67.15 | 34.21 | 5.56 | 102.96 | -78.57 | 22.38 | 49.7 | 38.4 |
| 22Q3 (15) | 41.25 | -2.6 | -33.0 | 14.02 | 67.3 | 264.94 | 4.76 | 32.59 | 263.01 | 4.76 | 32.59 | 852.0 | 0.39 | 56.0 | 1850.0 | 0.46 | 24.32 | 109.09 | 0.04 | 0.0 | 100.0 | 26.22 | -4.52 | -7.71 | 99.07 | -2.58 | 10.07 | 287.50 | 19.79 | 23.21 | -187.50 | -33.93 | -12.5 | 14.95 | -10.48 | -32.9 |
| 22Q2 (14) | 42.35 | -2.31 | -30.36 | 8.38 | -22.48 | 230.12 | 3.59 | -45.93 | 273.96 | 3.59 | -44.51 | 169.92 | 0.25 | -50.0 | 316.67 | 0.37 | -22.92 | 42.31 | 0.04 | 0.0 | 100.0 | 27.46 | -1.01 | -14.88 | 101.69 | 0.06 | 11.21 | 240.00 | 41.18 | 140.0 | -140.00 | -133.33 | -120.0 | 16.70 | -2.28 | -21.49 |
| 22Q1 (13) | 43.35 | 17.19 | -14.51 | 10.81 | -6.97 | 964.8 | 6.64 | -58.91 | -22.88 | 6.47 | -54.85 | -21.95 | 0.50 | -57.63 | 19.05 | 0.48 | -42.86 | 20.0 | 0.04 | 0.0 | 33.33 | 27.74 | -23.71 | -22.94 | 101.63 | -1.31 | 11.05 | 170.00 | 141.58 | 1630.0 | -60.00 | -331.43 | -154.0 | 17.09 | 5.69 | -29.32 |
| 21Q4 (12) | 36.99 | -39.92 | -24.34 | 11.62 | 236.71 | 157.75 | 16.16 | 653.42 | 150.72 | 14.33 | 2766.0 | 143.49 | 1.18 | 5800.0 | 173.29 | 0.84 | 281.82 | 237.7 | 0.04 | 100.0 | 33.33 | 36.36 | 27.98 | 0 | 102.98 | 14.41 | 12.15 | 70.37 | -69.84 | 9.07 | 25.93 | 115.56 | -26.94 | 16.17 | -27.42 | -36.24 |
| 21Q3 (11) | 61.57 | 1.25 | 63.79 | -8.50 | -31.99 | 82.23 | -2.92 | -404.17 | 91.15 | 0.50 | -62.41 | 101.54 | 0.02 | -66.67 | 101.94 | 0.22 | -15.38 | 159.46 | 0.02 | 0.0 | 0.0 | 28.41 | -11.93 | 354.56 | 90.01 | -1.56 | 0.47 | 233.33 | 138.89 | 58.06 | -166.67 | -123.81 | -250.0 | 22.28 | 4.75 | -36.78 |
| 21Q2 (10) | 60.81 | 19.92 | 25.59 | -6.44 | -415.2 | 81.63 | 0.96 | -88.85 | 102.74 | 1.33 | -83.96 | 103.81 | 0.06 | -85.71 | 106.45 | 0.26 | -35.0 | 189.66 | 0.02 | -33.33 | 100.0 | 32.26 | -10.39 | 117.83 | 91.44 | -0.09 | 5.13 | -600.00 | -5300.0 | -700.0 | 700.00 | 530.0 | 0 | 21.27 | -12.03 | 0 |
| 21Q1 (9) | 50.71 | 3.72 | 0.24 | -1.25 | 93.79 | 94.39 | 8.61 | 127.02 | 125.84 | 8.29 | 125.16 | 124.57 | 0.42 | 126.09 | 138.53 | 0.40 | 165.57 | 190.91 | 0.03 | 0.0 | 50.0 | 36.00 | 0 | 1104.01 | 91.52 | -0.33 | 9.24 | -11.11 | -117.22 | -116.3 | 111.11 | 213.13 | 249.21 | 24.18 | -4.65 | 0 |
| 20Q4 (8) | 48.89 | 30.06 | 32.82 | -20.12 | 57.93 | -117.75 | -31.86 | 3.45 | -88.63 | -32.95 | -1.67 | -111.76 | -1.61 | -56.31 | -155.56 | -0.61 | -64.86 | -408.33 | 0.03 | 50.0 | 50.0 | 0.00 | -100.0 | -100.0 | 91.82 | 2.49 | 12.95 | 64.52 | -56.3 | 12.9 | 35.48 | 174.52 | -17.2 | 25.36 | -28.04 | 0 |
| 20Q3 (7) | 37.59 | -22.37 | -35.51 | -47.82 | -36.39 | -817.85 | -33.00 | 5.8 | -28.06 | -32.41 | 7.16 | -22.49 | -1.03 | -10.75 | -11.96 | -0.37 | -27.59 | -48.0 | 0.02 | 100.0 | 0.0 | 6.25 | -57.8 | -54.38 | 89.59 | 3.0 | 12.75 | 147.62 | 47.62 | 601.19 | -47.62 | 0 | -160.32 | 35.24 | 0 | 20.07 |
| 20Q2 (6) | 48.42 | -4.29 | 3.02 | -35.06 | -57.22 | -381.61 | -35.03 | -5.13 | -216.44 | -34.91 | -3.47 | -200.17 | -0.93 | 14.68 | -126.83 | -0.29 | 34.09 | -363.64 | 0.01 | -50.0 | -50.0 | 14.81 | 395.32 | -53.1 | 86.98 | 3.82 | 9.55 | 100.00 | 46.67 | 188.89 | -0.00 | -100.0 | -100.0 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 50.59 | 37.44 | -26.55 | -22.30 | -141.34 | -1627.4 | -33.32 | -97.28 | -2263.12 | -33.74 | -116.84 | -853.11 | -1.09 | -73.02 | -738.46 | -0.44 | -266.67 | -980.0 | 0.02 | 0.0 | 0.0 | 2.99 | -80.68 | -88.47 | 83.78 | 3.06 | -0.76 | 68.18 | 19.32 | 168.18 | 31.82 | -25.76 | -84.09 | 0.00 | 0 | -100.0 |
| 19Q4 (4) | 36.81 | -36.85 | 0.0 | -9.24 | -77.35 | 0.0 | -16.89 | 34.46 | 0.0 | -15.56 | 41.19 | 0.0 | -0.63 | 31.52 | 0.0 | -0.12 | 52.0 | 0.0 | 0.02 | 0.0 | 0.0 | 15.48 | 12.99 | 0.0 | 81.29 | 2.3 | 0.0 | 57.14 | 171.43 | 0.0 | 42.86 | -45.71 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 58.29 | 24.02 | 0.0 | -5.21 | -141.85 | 0.0 | -25.77 | -132.79 | 0.0 | -26.46 | -127.52 | 0.0 | -0.92 | -124.39 | 0.0 | -0.25 | -327.27 | 0.0 | 0.02 | 0.0 | 0.0 | 13.70 | -56.62 | 0.0 | 79.46 | 0.08 | 0.0 | 21.05 | 118.71 | 0.0 | 78.95 | -64.91 | 0.0 | 29.35 | 22.14 | 0.0 |
| 19Q2 (2) | 47.00 | -31.77 | 0.0 | 12.45 | 752.74 | 0.0 | -11.07 | -685.11 | 0.0 | -11.63 | -228.53 | 0.0 | -0.41 | -215.38 | 0.0 | 0.11 | 120.0 | 0.0 | 0.02 | 0.0 | 0.0 | 31.58 | 21.79 | 0.0 | 79.40 | -5.95 | 0.0 | -112.50 | -12.5 | 0.0 | 225.00 | 12.5 | 0.0 | 24.03 | -3.53 | 0.0 |
| 19Q1 (1) | 68.88 | 0.0 | 0.0 | 1.46 | 0.0 | 0.0 | -1.41 | 0.0 | 0.0 | -3.54 | 0.0 | 0.0 | -0.13 | 0.0 | 0.0 | 0.05 | 0.0 | 0.0 | 0.02 | 0.0 | 0.0 | 25.93 | 0.0 | 0.0 | 84.42 | 0.0 | 0.0 | -100.00 | 0.0 | 0.0 | 200.00 | 0.0 | 0.0 | 24.91 | 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) | 34.45 | -11.49 | 9.43 | 55.87 | 14.29 | -4.49 | 1.94 | 117.98 | 1.62 | 161.29 | 0.44 | 144.44 | 1.43 | 30.0 | 0.14 | 0.0 | 27.09 | 9.68 | 93.15 | -4.98 | 510.00 | -27.14 | -400.00 | 0 | 0.41 | -3.91 | 14.27 | -18.13 |
| 2022 (9) | 38.92 | -21.99 | 6.05 | 511.11 | 14.96 | -12.23 | 0.89 | -88.18 | 0.62 | -91.77 | 0.18 | -89.29 | 1.10 | -34.91 | 0.14 | 27.27 | 24.70 | -27.05 | 98.03 | -4.81 | 700.00 | 5850.0 | -600.00 | 0 | 0.43 | 3.65 | 17.43 | -13.84 |
| 2021 (8) | 49.89 | 6.99 | 0.99 | 0 | 17.04 | -31.11 | 7.53 | 0 | 7.53 | 0 | 1.68 | 0 | 1.69 | 0 | 0.11 | 57.14 | 33.86 | 584.04 | 102.98 | 12.15 | 11.76 | -86.83 | 85.29 | 790.85 | 0.42 | -12.24 | 20.23 | -36.08 |
| 2020 (7) | 46.63 | -11.3 | -29.79 | 0 | 24.73 | 17.68 | -33.07 | 0 | -33.39 | 0 | -4.66 | 0 | -1.71 | 0 | 0.07 | -12.5 | 4.95 | -77.47 | 91.82 | 12.95 | 89.36 | 3742.55 | 9.57 | -90.2 | 0.47 | -0.9 | 31.65 | 18.1 |
| 2019 (6) | 52.57 | 62.86 | -0.31 | 0 | 21.02 | 1927.39 | -13.54 | 0 | -14.03 | 0 | -2.09 | 0 | -0.22 | 0 | 0.08 | -71.43 | 21.97 | 36.29 | 81.29 | 13.2 | 2.33 | -98.24 | 97.67 | 0 | 0.48 | 3.91 | 26.80 | 274.83 |
| 2018 (5) | 32.28 | -37.97 | 14.42 | 4269.7 | 1.04 | -82.38 | 10.96 | 0 | 10.38 | 0 | 5.78 | 0 | 3.80 | 0 | 0.28 | 211.11 | 16.12 | 259.82 | 71.81 | -47.9 | 131.90 | 0 | -31.90 | 0 | 0.46 | 0 | 7.15 | -75.5 |
| 2017 (4) | 52.04 | 20.21 | 0.33 | -89.22 | 5.88 | 12.55 | -20.10 | 0 | -21.50 | 0 | -4.80 | 0 | -0.55 | 0 | 0.09 | 28.57 | 4.48 | -52.39 | 137.82 | -16.09 | -1.39 | 0 | 101.39 | -21.42 | 0.00 | 0 | 29.18 | 34.91 |
| 2016 (3) | 43.29 | -33.03 | 3.06 | -45.36 | 5.23 | 0.05 | -10.91 | 0 | -10.92 | 0 | -2.12 | 0 | 0.11 | -98.77 | 0.07 | 133.33 | 9.41 | -96.75 | 164.25 | -19.9 | -29.03 | 0 | 129.03 | 32.26 | 0.00 | 0 | 21.63 | -1.32 |
| 2015 (2) | 64.64 | -7.25 | 5.60 | -66.41 | 5.22 | -19.63 | 244.67 | 2128.32 | 234.29 | 3417.87 | 24.64 | 1953.33 | 8.97 | 403.93 | 0.03 | -50.0 | 289.55 | 558.07 | 205.06 | -8.04 | 2.13 | -98.58 | 97.56 | 0 | 0.00 | 0 | 21.92 | -10.86 |
| 2014 (1) | 69.69 | 0 | 16.67 | 0 | 6.50 | 192.5 | 10.98 | 0 | 6.66 | 0 | 1.20 | 0 | 1.78 | 0 | 0.06 | -50.0 | 44.00 | 113.28 | 223.00 | 34.14 | 150.00 | -72.5 | -50.00 | 0 | 0.00 | 0 | 24.59 | 537.05 |
