- 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) | 4.87 | -52.21 | -36.51 | -5.91 | -787.21 | -8342.86 | -10.44 | -1047.25 | -314.29 | -8.95 | -621.77 | -593.8 | -5.45 | -505.56 | -332.54 | -2.19 | -1725.0 | -812.5 | 0.27 | -12.9 | -20.59 | -6.75 | -378.93 | -1000.0 | 110.10 | -19.82 | -28.3 | 56.71 | 160.25 | 1714.63 | 43.29 | -77.7 | -55.31 | 10.52 | 4.06 | 40.64 |
| 23Q3 (19) | 10.19 | 34.08 | -9.1 | 0.86 | 2250.0 | -76.37 | -0.91 | -275.0 | -116.02 | -1.24 | -1053.85 | -129.45 | -0.90 | -918.18 | -117.82 | -0.12 | -148.0 | -106.9 | 0.31 | -8.82 | -20.51 | 2.42 | -30.26 | -67.99 | 137.31 | -0.21 | -36.6 | -94.12 | -935.29 | -246.22 | 194.12 | 94.12 | 444.78 | 10.11 | 22.25 | 34.8 |
| 23Q2 (18) | 7.60 | 192.31 | -9.95 | -0.04 | 99.43 | -105.88 | 0.52 | 106.85 | -82.13 | 0.13 | 102.06 | -93.16 | 0.11 | 102.51 | -94.09 | 0.25 | 116.56 | -63.24 | 0.34 | 25.93 | 6.25 | 3.47 | 188.07 | -28.89 | 137.60 | -12.31 | -30.65 | -9.09 | -109.84 | -139.77 | 100.00 | 1090.91 | 29.63 | 8.27 | -20.02 | 2.35 |
| 23Q1 (17) | 2.60 | -66.1 | -68.48 | -6.98 | -9871.43 | -452.53 | -7.59 | -201.19 | -313.8 | -6.31 | -389.15 | -347.45 | -4.38 | -247.62 | -238.61 | -1.51 | -529.17 | -239.81 | 0.27 | -20.59 | -32.5 | -3.94 | -625.33 | -179.6 | 156.91 | 2.19 | -24.53 | 92.37 | 2855.73 | 65.05 | 8.40 | -91.33 | -80.93 | 10.34 | 38.24 | 19.68 |
| 22Q4 (16) | 7.67 | -31.58 | -2.42 | -0.07 | -101.92 | -102.83 | -2.52 | -144.37 | -211.01 | -1.29 | -130.64 | -194.16 | -1.26 | -124.95 | -162.07 | -0.24 | -113.79 | -134.29 | 0.34 | -12.82 | -29.17 | 0.75 | -90.08 | -77.48 | 153.55 | -29.11 | -25.33 | 3.12 | -95.15 | -97.15 | 96.88 | 171.88 | 1248.66 | 7.48 | -0.27 | -0.53 |
| 22Q3 (15) | 11.21 | 32.82 | 13.0 | 3.64 | 435.29 | 35.82 | 5.68 | 95.19 | 69.55 | 4.21 | 121.58 | 86.28 | 5.05 | 171.51 | 76.57 | 1.74 | 155.88 | 87.1 | 0.39 | 21.88 | -2.5 | 7.56 | 54.92 | 69.89 | 216.59 | 9.16 | 0.43 | 64.37 | 181.61 | -19.93 | 35.63 | -53.81 | 81.72 | 7.50 | -7.18 | -8.2 |
| 22Q2 (14) | 8.44 | 2.3 | 23.75 | 0.68 | -65.66 | -57.76 | 2.91 | -18.03 | 91.45 | 1.90 | -25.49 | 65.22 | 1.86 | -41.14 | 1.09 | 0.68 | -37.04 | 13.33 | 0.32 | -20.0 | -36.0 | 4.88 | -1.41 | 105.91 | 198.42 | -4.56 | -11.21 | 22.86 | -59.16 | -78.27 | 77.14 | 75.18 | 1591.43 | 8.08 | -6.48 | 20.78 |
| 22Q1 (13) | 8.25 | 4.96 | -5.39 | 1.98 | -19.84 | -39.26 | 3.55 | 56.39 | 0.28 | 2.55 | 86.13 | -3.77 | 3.16 | 55.67 | -16.4 | 1.08 | 54.29 | -15.62 | 0.40 | -16.67 | -14.89 | 4.95 | 48.65 | 9.03 | 207.91 | 1.1 | -5.16 | 55.96 | -48.96 | -39.04 | 44.04 | 622.15 | 437.25 | 8.64 | 14.89 | 7.87 |
| 21Q4 (12) | 7.86 | -20.77 | -17.95 | 2.47 | -7.84 | -30.62 | 2.27 | -32.24 | -33.82 | 1.37 | -39.38 | -38.01 | 2.03 | -29.02 | -37.15 | 0.70 | -24.73 | -39.13 | 0.48 | 20.0 | -5.88 | 3.33 | -25.17 | -22.74 | 205.64 | -4.65 | 11.22 | 109.64 | 36.38 | 5.32 | -8.43 | -143.01 | -105.78 | 7.52 | -7.96 | 8.05 |
| 21Q3 (11) | 9.92 | 45.45 | 1.22 | 2.68 | 66.46 | -33.66 | 3.35 | 120.39 | -23.34 | 2.26 | 96.52 | -35.24 | 2.86 | 55.43 | -45.83 | 0.93 | 55.0 | -50.0 | 0.40 | -20.0 | -24.53 | 4.45 | 87.76 | -14.59 | 215.67 | -3.49 | 12.87 | 80.39 | -23.56 | -13.38 | 19.61 | 479.08 | 172.73 | 8.17 | 22.12 | 18.58 |
| 21Q2 (10) | 6.82 | -21.79 | -39.05 | 1.61 | -50.61 | -67.74 | 1.52 | -57.06 | -66.59 | 1.15 | -56.6 | -68.23 | 1.84 | -51.32 | -65.61 | 0.60 | -53.12 | -71.01 | 0.50 | 6.38 | -10.71 | 2.37 | -47.8 | -56.67 | 223.46 | 1.93 | 17.41 | 105.17 | 14.56 | -3.37 | -5.17 | -163.1 | 45.69 | 6.69 | -16.48 | 0 |
| 21Q1 (9) | 8.72 | -8.98 | -8.4 | 3.26 | -8.43 | 3160.0 | 3.54 | 3.21 | 254.0 | 2.65 | 19.91 | 231.25 | 3.78 | 17.03 | 455.88 | 1.28 | 11.3 | 300.0 | 0.47 | -7.84 | 34.29 | 4.54 | 5.34 | 86.07 | 219.23 | 18.57 | 58.98 | 91.80 | -11.81 | 772.13 | 8.20 | 300.0 | -90.84 | 8.01 | 15.09 | 0 |
| 20Q4 (8) | 9.58 | -2.24 | -12.35 | 3.56 | -11.88 | 21.5 | 3.43 | -21.51 | 76.8 | 2.21 | -36.68 | 51.37 | 3.23 | -38.83 | 101.87 | 1.15 | -38.17 | 71.64 | 0.51 | -3.77 | 15.91 | 4.31 | -17.27 | 37.26 | 184.90 | -3.23 | 25.48 | 104.10 | 12.16 | -30.6 | -4.10 | -157.0 | 91.8 | 6.96 | 1.02 | -28.25 |
| 20Q3 (7) | 9.80 | -12.42 | -15.44 | 4.04 | -19.04 | -8.6 | 4.37 | -3.96 | 0.46 | 3.49 | -3.59 | -1.41 | 5.28 | -1.31 | 21.94 | 1.86 | -10.14 | 3.91 | 0.53 | -5.36 | 8.16 | 5.21 | -4.75 | -5.96 | 191.08 | 0.39 | 19.71 | 92.81 | -14.73 | -8.78 | 7.19 | 175.49 | 513.4 | 6.89 | 0 | 25.5 |
| 20Q2 (6) | 11.19 | 17.54 | 6.07 | 4.99 | 4890.0 | 40.56 | 4.55 | 355.0 | 10.71 | 3.62 | 352.5 | 8.71 | 5.35 | 686.76 | 50.7 | 2.07 | 546.87 | 30.19 | 0.56 | 60.0 | 21.74 | 5.47 | 124.18 | 0.92 | 190.33 | 38.02 | 36.71 | 108.84 | 934.01 | 25.69 | -9.52 | -110.64 | -171.06 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 9.52 | -12.9 | 126.67 | 0.10 | -96.59 | 102.22 | 1.00 | -48.45 | 127.62 | 0.80 | -45.21 | 125.72 | 0.68 | -57.5 | 129.44 | 0.32 | -52.24 | 135.56 | 0.35 | -20.45 | 12.9 | 2.44 | -22.29 | 231.18 | 137.90 | -6.42 | 12.24 | 10.53 | -92.98 | -91.63 | 89.47 | 278.95 | 469.82 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 10.93 | -5.69 | 0.0 | 2.93 | -33.71 | 0.0 | 1.94 | -55.4 | 0.0 | 1.46 | -58.76 | 0.0 | 1.60 | -63.05 | 0.0 | 0.67 | -62.57 | 0.0 | 0.44 | -10.2 | 0.0 | 3.14 | -43.32 | 0.0 | 147.36 | -7.68 | 0.0 | 150.00 | 47.44 | 0.0 | -50.00 | -2775.0 | 0.0 | 9.70 | 76.68 | 0.0 |
| 19Q3 (3) | 11.59 | 9.86 | 0.0 | 4.42 | 24.51 | 0.0 | 4.35 | 5.84 | 0.0 | 3.54 | 6.31 | 0.0 | 4.33 | 21.97 | 0.0 | 1.79 | 12.58 | 0.0 | 0.49 | 6.52 | 0.0 | 5.54 | 2.21 | 0.0 | 159.62 | 14.65 | 0.0 | 101.74 | 17.48 | 0.0 | -1.74 | -112.98 | 0.0 | 5.49 | -4.19 | 0.0 |
| 19Q2 (2) | 10.55 | 151.19 | 0.0 | 3.55 | 178.89 | 0.0 | 4.11 | 213.54 | 0.0 | 3.33 | 207.07 | 0.0 | 3.55 | 253.68 | 0.0 | 1.59 | 276.67 | 0.0 | 0.46 | 48.39 | 0.0 | 5.42 | 391.4 | 0.0 | 139.22 | 13.32 | 0.0 | 86.60 | -31.17 | 0.0 | 13.40 | 155.4 | 0.0 | 5.73 | -18.49 | 0.0 |
| 19Q1 (1) | 4.20 | 0.0 | 0.0 | -4.50 | 0.0 | 0.0 | -3.62 | 0.0 | 0.0 | -3.11 | 0.0 | 0.0 | -2.31 | 0.0 | 0.0 | -0.90 | 0.0 | 0.0 | 0.31 | 0.0 | 0.0 | -1.86 | 0.0 | 0.0 | 122.86 | 0.0 | 0.0 | 125.81 | 0.0 | 0.0 | -24.19 | 0.0 | 0.0 | 7.03 | 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) | 6.47 | -27.95 | -2.75 | 0 | 2.35 | 39.25 | -4.18 | 0 | -3.75 | 0 | -10.57 | 0 | -3.62 | 0 | 1.22 | -21.79 | -0.81 | 0 | 110.10 | -28.3 | 65.78 | 1.66 | 34.22 | -3.05 | 0.13 | 46.4 | 9.73 | 22.54 |
| 2022 (9) | 8.98 | 8.98 | 1.69 | -31.85 | 1.68 | 97.55 | 2.61 | -0.38 | 1.99 | 9.34 | 8.64 | -15.46 | 3.53 | -2.22 | 1.56 | -17.89 | 4.70 | 29.83 | 153.55 | -25.33 | 64.71 | -31.74 | 35.29 | 544.12 | 0.09 | -22.59 | 7.94 | 5.03 |
| 2021 (8) | 8.24 | -17.52 | 2.48 | -31.3 | 0.85 | 1.73 | 2.62 | -29.0 | 1.82 | -34.3 | 10.22 | -27.72 | 3.61 | -34.12 | 1.90 | -2.06 | 3.62 | -22.32 | 205.64 | 11.22 | 94.79 | -3.05 | 5.48 | 146.03 | 0.12 | 17.93 | 7.56 | 5.73 |
| 2020 (7) | 9.99 | 4.06 | 3.61 | 57.64 | 0.84 | -24.43 | 3.69 | 59.74 | 2.77 | 50.54 | 14.14 | 95.3 | 5.48 | 75.08 | 1.94 | 22.01 | 4.66 | 28.02 | 184.90 | 30.87 | 97.77 | -1.3 | 2.23 | 136.08 | 0.10 | -31.02 | 7.15 | 2.73 |
| 2019 (6) | 9.60 | 2.13 | 2.29 | 2.23 | 1.11 | 35.1 | 2.31 | -15.38 | 1.84 | -13.62 | 7.24 | -13.4 | 3.13 | -21.55 | 1.59 | -9.14 | 3.64 | -4.21 | 141.29 | -7.13 | 99.06 | 20.75 | 0.94 | -94.75 | 0.14 | 8.74 | 6.96 | 0.14 |
| 2018 (5) | 9.40 | -5.05 | 2.24 | -24.83 | 0.82 | -7.72 | 2.73 | -16.0 | 2.13 | -22.26 | 8.36 | -5.32 | 3.99 | -14.93 | 1.75 | 4.79 | 3.80 | -11.63 | 152.13 | 57.68 | 82.03 | -10.28 | 17.97 | 109.64 | 0.13 | 0 | 6.95 | -6.08 |
| 2017 (4) | 9.90 | 1.02 | 2.98 | 3.83 | 0.89 | -22.11 | 3.25 | 15.66 | 2.74 | 22.32 | 8.83 | 76.6 | 4.69 | 60.62 | 1.67 | 30.47 | 4.30 | 5.13 | 96.48 | 6.44 | 91.43 | -10.42 | 8.57 | 0 | 0.00 | 0 | 7.40 | -16.38 |
| 2016 (3) | 9.80 | 1.03 | 2.87 | 52.66 | 1.14 | -1.62 | 2.81 | 1.08 | 2.24 | 6.67 | 5.00 | 15.47 | 2.92 | 9.36 | 1.28 | 4.92 | 4.09 | 0.49 | 90.64 | 49.45 | 102.07 | 50.88 | -2.07 | 0 | 0.00 | 0 | 8.85 | 17.37 |
| 2015 (2) | 9.70 | -0.1 | 1.88 | -26.56 | 1.16 | -11.46 | 2.78 | -27.98 | 2.10 | -30.46 | 4.33 | -29.13 | 2.67 | -28.8 | 1.22 | 3.39 | 4.07 | -24.49 | 60.65 | -19.38 | 67.65 | 1.75 | 32.35 | -3.46 | 0.00 | 0 | 7.54 | 5.31 |
| 2014 (1) | 9.71 | 0 | 2.56 | 0 | 1.31 | -23.4 | 3.86 | 0 | 3.02 | 0 | 6.11 | 0 | 3.75 | 0 | 1.18 | 14.56 | 5.39 | 140.62 | 75.23 | 10.41 | 66.49 | 0 | 33.51 | -95.53 | 0.00 | 0 | 7.16 | 1.42 |
