- 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) | 26.82 | -25.58 | 19.31 | 16.50 | -36.71 | 193.59 | 14.88 | -42.57 | 380.0 | 16.03 | -23.85 | 361.96 | 4.37 | -32.04 | 1224.24 | 1.97 | -25.66 | 994.44 | 0.12 | 0.0 | 200.0 | 15.74 | -40.78 | 164.09 | 117.76 | -11.48 | -18.53 | 111.02 | 10.3 | -39.12 | -11.02 | -1597.14 | 86.62 | 4.82 | -12.36 | -40.79 |
| 23Q3 (19) | 36.04 | 94.6 | 81.29 | 26.07 | 826.18 | 700.69 | 25.91 | 4610.91 | 4645.61 | 21.05 | 1003.43 | 1440.76 | 6.43 | 5458.33 | 10816.67 | 2.65 | 13150.0 | 13150.0 | 0.12 | 500.0 | 500.0 | 26.58 | 270.71 | 312.09 | 133.03 | -15.46 | -9.14 | 100.65 | 118.3 | -88.82 | -0.65 | -100.1 | 99.92 | 5.50 | -61.24 | -69.6 |
| 23Q2 (18) | 18.52 | -5.37 | 434.3 | -3.59 | -187.78 | 82.49 | 0.55 | -83.18 | 102.62 | -2.33 | -195.49 | 89.86 | -0.12 | -157.14 | 92.94 | 0.02 | -85.71 | 102.82 | 0.02 | -50.0 | -33.33 | 7.17 | 3.61 | 139.48 | 157.36 | 7.96 | 11.02 | -550.00 | -545.24 | -662.36 | 650.00 | 2862.5 | 29475.0 | 14.19 | 60.7 | 74.11 |
| 23Q1 (17) | 19.57 | -12.94 | -21.69 | 4.09 | -27.22 | -72.55 | 3.27 | 5.48 | -79.04 | 2.44 | -29.68 | -82.85 | 0.21 | -36.36 | -94.98 | 0.14 | -22.22 | -92.43 | 0.04 | 0.0 | -69.23 | 6.92 | 16.11 | -57.75 | 145.76 | 0.84 | 20.95 | 123.53 | -32.26 | 29.37 | -23.53 | 71.43 | -621.57 | 8.83 | 8.48 | 95.35 |
| 22Q4 (16) | 22.48 | 13.08 | 138.22 | 5.62 | 229.49 | 106.39 | 3.10 | 643.86 | 103.58 | 3.47 | 321.02 | 104.07 | 0.33 | 650.0 | 116.34 | 0.18 | 800.0 | 120.22 | 0.04 | 100.0 | 300.0 | 5.96 | -7.6 | 107.51 | 144.55 | -1.27 | 4.79 | 182.35 | -79.74 | 79.31 | -82.35 | 89.71 | -4758.82 | 8.14 | -55.0 | -66.9 |
| 22Q3 (15) | 19.88 | 458.84 | -60.1 | -4.34 | 78.83 | -112.11 | -0.57 | 97.29 | -101.43 | -1.57 | 93.17 | -104.1 | -0.06 | 96.47 | -101.87 | 0.02 | 102.82 | -98.68 | 0.02 | -33.33 | -50.0 | 6.45 | 135.52 | -84.51 | 146.41 | 3.29 | 29.47 | 900.00 | 820.22 | 900.0 | -800.00 | -36500.0 | -8100.0 | 18.09 | 121.96 | 44.6 |
| 22Q2 (14) | -5.54 | -122.17 | -130.13 | -20.50 | -237.58 | -207.35 | -21.00 | -234.62 | -292.52 | -22.98 | -261.49 | -156.47 | -1.70 | -140.67 | -431.25 | -0.71 | -138.38 | -373.33 | 0.03 | -76.92 | 50.0 | -18.16 | -210.87 | -1698.02 | 141.74 | 17.62 | 28.78 | 97.80 | 2.42 | -17.24 | 2.20 | -51.28 | 108.06 | 8.15 | 80.31 | -60.26 |
| 22Q1 (13) | 24.99 | 142.49 | 13.69 | 14.90 | 116.93 | 365.6 | 15.60 | 118.03 | 574.16 | 14.23 | 116.7 | 462.09 | 4.18 | 306.93 | 3085.71 | 1.85 | 307.87 | 2742.86 | 0.13 | 1200.0 | 550.0 | 16.38 | 120.63 | 1571.43 | 120.51 | -12.64 | 17.2 | 95.49 | -6.1 | -39.23 | 4.51 | 366.17 | 106.32 | 4.52 | -81.62 | -77.79 |
| 21Q4 (12) | -58.81 | -218.02 | -1107.02 | -88.00 | -345.6 | -2324.24 | -86.52 | -317.44 | -2316.76 | -85.19 | -322.6 | -3294.02 | -2.02 | -162.93 | -369.77 | -0.89 | -158.55 | -323.81 | 0.01 | -75.0 | -88.89 | -79.41 | -290.75 | -2966.02 | 137.94 | 21.98 | 36.4 | 101.69 | 12.99 | 1.69 | -1.69 | -116.95 | 40.68 | 24.59 | 96.56 | 457.6 |
| 21Q3 (11) | 49.83 | 170.96 | 124.86 | 35.83 | 637.18 | 188.49 | 39.79 | 843.74 | 213.31 | 38.27 | 527.12 | 265.17 | 3.21 | 1103.12 | 30.49 | 1.52 | 1113.33 | 26.67 | 0.04 | 100.0 | -63.64 | 41.63 | 4221.78 | 209.29 | 113.08 | 2.74 | 12.88 | 90.00 | -23.85 | -7.78 | 10.00 | 136.67 | 315.0 | 12.51 | -39.01 | 151.2 |
| 21Q2 (10) | 18.39 | -16.33 | -15.21 | -6.67 | -18.89 | -167.37 | -5.35 | -62.61 | -145.73 | -8.96 | -127.99 | -180.07 | -0.32 | -128.57 | -126.23 | -0.15 | -114.29 | -125.0 | 0.02 | 0.0 | -60.0 | -1.01 | -203.06 | -107.62 | 110.06 | 7.04 | -2.66 | 118.18 | -24.79 | 39.85 | -27.27 | 61.82 | -276.03 | 20.51 | 0.79 | 168.1 |
| 21Q1 (9) | 21.98 | 276.37 | 160.74 | -5.61 | -54.55 | 29.87 | -3.29 | 8.1 | 69.02 | -3.93 | -56.57 | 64.53 | -0.14 | 67.44 | 78.79 | -0.07 | 66.67 | 78.79 | 0.02 | -77.78 | -33.33 | 0.98 | 137.84 | 112.19 | 102.82 | 1.67 | 3.48 | 157.14 | 57.14 | 109.52 | -71.43 | -2400.0 | -385.71 | 20.35 | 361.45 | 64.78 |
| 20Q4 (8) | 5.84 | -73.65 | -73.75 | -3.63 | -129.23 | -449.04 | -3.58 | -128.19 | -775.47 | -2.51 | -123.95 | -412.24 | -0.43 | -117.48 | -975.0 | -0.21 | -117.5 | -950.0 | 0.09 | -18.18 | 125.0 | -2.59 | -119.24 | -204.86 | 101.13 | 0.95 | 5.45 | 100.00 | 2.47 | -60.0 | -2.86 | -218.57 | 97.14 | 4.41 | -11.45 | -71.77 |
| 20Q3 (7) | 22.16 | 2.17 | -27.22 | 12.42 | 25.45 | -39.83 | 12.70 | 8.55 | -42.14 | 10.48 | -6.34 | -51.68 | 2.46 | 101.64 | -19.61 | 1.20 | 100.0 | -25.93 | 0.11 | 120.0 | 57.14 | 13.46 | 1.58 | -41.83 | 100.18 | -11.4 | 15.44 | 97.59 | 15.48 | 4.18 | 2.41 | -84.45 | -58.07 | 4.98 | -34.9 | -19.02 |
| 20Q2 (6) | 21.69 | 157.3 | -28.91 | 9.90 | 223.75 | -40.72 | 11.70 | 210.17 | -34.96 | 11.19 | 200.99 | -36.17 | 1.22 | 284.85 | -27.81 | 0.60 | 281.82 | -34.78 | 0.05 | 66.67 | 0.0 | 13.25 | 264.8 | -33.52 | 113.07 | 13.8 | 23.17 | 84.51 | 12.68 | -8.92 | 15.49 | -38.03 | 114.69 | 7.65 | -38.06 | -11.97 |
| 20Q1 (5) | 8.43 | -62.11 | -20.32 | -8.00 | -869.23 | 49.43 | -10.62 | -2103.77 | 21.16 | -11.08 | -2161.22 | 19.88 | -0.66 | -1550.0 | -43.48 | -0.33 | -1550.0 | -83.33 | 0.03 | -25.0 | 50.0 | -8.04 | -425.51 | -69.62 | 99.36 | 3.61 | 14.77 | 75.00 | -70.0 | -35.0 | 25.00 | 125.0 | 262.5 | 12.35 | -20.93 | -46.42 |
| 19Q4 (4) | 22.25 | -26.93 | 0.0 | 1.04 | -94.96 | 0.0 | 0.53 | -97.59 | 0.0 | -0.49 | -102.26 | 0.0 | -0.04 | -101.31 | 0.0 | -0.02 | -101.23 | 0.0 | 0.04 | -42.86 | 0.0 | 2.47 | -89.33 | 0.0 | 95.90 | 10.51 | 0.0 | 250.00 | 166.87 | 0.0 | -100.00 | -1840.0 | 0.0 | 15.62 | 153.98 | 0.0 |
| 19Q3 (3) | 30.45 | -0.2 | 0.0 | 20.64 | 23.59 | 0.0 | 21.95 | 22.01 | 0.0 | 21.69 | 23.73 | 0.0 | 3.06 | 81.07 | 0.0 | 1.62 | 76.09 | 0.0 | 0.07 | 40.0 | 0.0 | 23.14 | 16.11 | 0.0 | 86.78 | -5.47 | 0.0 | 93.68 | 0.96 | 0.0 | 5.75 | -20.36 | 0.0 | 6.15 | -29.23 | 0.0 |
| 19Q2 (2) | 30.51 | 188.37 | 0.0 | 16.70 | 205.56 | 0.0 | 17.99 | 233.56 | 0.0 | 17.53 | 226.75 | 0.0 | 1.69 | 467.39 | 0.0 | 0.92 | 611.11 | 0.0 | 0.05 | 150.0 | 0.0 | 19.93 | 520.46 | 0.0 | 91.80 | 6.04 | 0.0 | 92.78 | -19.59 | 0.0 | 7.22 | 146.91 | 0.0 | 8.69 | -62.3 | 0.0 |
| 19Q1 (1) | 10.58 | 0.0 | 0.0 | -15.82 | 0.0 | 0.0 | -13.47 | 0.0 | 0.0 | -13.83 | 0.0 | 0.0 | -0.46 | 0.0 | 0.0 | -0.18 | 0.0 | 0.0 | 0.02 | 0.0 | 0.0 | -4.74 | 0.0 | 0.0 | 86.57 | 0.0 | 0.0 | 115.38 | 0.0 | 0.0 | -15.38 | 0.0 | 0.0 | 23.05 | 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) | 29.23 | 49.44 | 17.58 | 174.69 | 0.75 | -33.52 | 17.09 | 161.31 | 15.19 | 179.23 | 10.85 | 294.55 | 4.89 | 282.03 | 0.31 | 47.62 | 18.62 | 118.29 | 117.76 | -18.53 | 102.90 | 5.11 | -2.90 | 0 | 0.00 | 0 | 6.27 | -7.39 |
| 2022 (9) | 19.56 | -16.98 | 6.40 | 142.42 | 1.13 | -66.06 | 6.54 | 20.66 | 5.44 | 34.32 | 2.75 | 276.71 | 1.28 | 276.47 | 0.21 | 162.5 | 8.53 | -5.75 | 144.55 | 4.79 | 97.89 | 99.42 | 2.11 | -95.86 | 0.00 | 0 | 6.77 | -60.78 |
| 2021 (8) | 23.56 | 49.78 | 2.64 | -46.99 | 3.34 | 225.81 | 5.42 | 4.63 | 4.05 | -8.99 | 0.73 | -71.15 | 0.34 | -73.85 | 0.08 | -72.41 | 9.05 | 43.42 | 137.94 | 36.4 | 49.09 | -49.07 | 50.91 | 1308.48 | 0.01 | -57.97 | 17.26 | 183.88 |
| 2020 (7) | 15.73 | -41.06 | 4.98 | -57.07 | 1.03 | -36.86 | 5.18 | -58.86 | 4.45 | -63.19 | 2.53 | -39.76 | 1.30 | -43.72 | 0.29 | 61.11 | 6.31 | -57.45 | 101.13 | 5.45 | 96.39 | 4.84 | 3.61 | -52.82 | 0.02 | 0 | 6.08 | -42.75 |
| 2019 (6) | 26.69 | 65.57 | 11.60 | 156.07 | 1.63 | 84.53 | 12.59 | 109.48 | 12.09 | 430.26 | 4.20 | 281.82 | 2.31 | 151.09 | 0.18 | -33.33 | 14.83 | 76.55 | 95.90 | 14.75 | 91.94 | 22.58 | 7.66 | -69.35 | 0.00 | 0 | 10.62 | 45.48 |
| 2018 (5) | 16.12 | 78.32 | 4.53 | 0 | 0.88 | -46.39 | 6.01 | 0 | 2.28 | 0 | 1.10 | 0 | 0.92 | 0 | 0.27 | 80.0 | 8.40 | 0 | 83.57 | 15.59 | 75.00 | -67.86 | 25.00 | 0 | 0.00 | 0 | 7.30 | -40.31 |
| 2017 (4) | 9.04 | -41.9 | -8.59 | 0 | 1.64 | -18.85 | -3.72 | 0 | -3.07 | 0 | -0.79 | 0 | -0.25 | 0 | 0.15 | 0.0 | -0.14 | 0 | 72.30 | 11.85 | 233.33 | 600.0 | -131.48 | 0 | 0.00 | 0 | 12.23 | -4.38 |
| 2016 (3) | 15.56 | 0 | -1.01 | 0 | 2.02 | 31.51 | -3.04 | 0 | -3.36 | 0 | -0.86 | 0 | -0.07 | 0 | 0.15 | -16.67 | 2.77 | 0 | 64.64 | -14.61 | 33.33 | -61.52 | 66.67 | 398.13 | 0.00 | 0 | 12.79 | 20.77 |
| 2015 (2) | -16.89 | 0 | -30.58 | 0 | 1.54 | 205.96 | -35.30 | 0 | -37.29 | 0 | -10.88 | 0 | -6.51 | 0 | 0.18 | -66.67 | -31.37 | 0 | 75.70 | 65.57 | 86.62 | -23.88 | 13.38 | 0 | 0.00 | 0 | 10.59 | 26.37 |
| 2014 (1) | 43.88 | 0 | 32.41 | 0 | 0.50 | 374.85 | 28.48 | 0 | 27.72 | 0 | 24.87 | 0 | 15.20 | 0 | 0.54 | -36.47 | 29.30 | -0.58 | 45.72 | -51.44 | 113.79 | 15.24 | -13.79 | 0 | 0.00 | 0 | 8.38 | 82.17 |
