- 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) | 33.47 | 14.51 | 14.08 | 19.69 | 28.52 | 63.81 | 12.15 | -44.06 | 88.37 | 8.59 | -53.26 | 56.18 | 2.73 | -57.81 | 77.27 | 1.34 | -53.47 | 76.32 | 0.14 | -6.67 | 16.67 | 25.26 | -24.14 | 10.26 | 123.55 | -2.67 | -8.83 | 162.20 | 130.35 | -12.54 | -62.20 | -310.27 | 27.21 | 23.66 | 3.68 | -14.77 |
| 23Q3 (19) | 29.23 | 32.32 | 2.45 | 15.32 | 97.42 | 85.25 | 21.72 | 64.67 | -5.36 | 18.38 | 70.82 | 1.83 | 6.47 | 81.23 | 32.04 | 2.88 | 74.55 | 30.32 | 0.15 | 7.14 | 25.0 | 33.30 | 27.39 | -16.96 | 126.94 | -7.1 | 1.85 | 70.42 | 20.07 | 95.25 | 29.58 | -28.46 | -53.73 | 22.82 | -3.39 | -36.31 |
| 23Q2 (18) | 22.09 | 19.92 | -0.18 | 7.76 | 140.25 | 4.3 | 13.19 | 1658.67 | -5.99 | 10.76 | 4778.26 | -7.48 | 3.57 | 6050.0 | -17.36 | 1.65 | 1962.5 | -12.23 | 0.14 | 16.67 | -6.67 | 26.14 | 54.04 | -6.84 | 136.64 | 3.48 | -2.46 | 58.65 | -86.97 | 11.2 | 41.35 | 111.82 | -11.21 | 23.62 | -11.8 | -6.46 |
| 23Q1 (17) | 18.42 | -37.22 | -12.7 | 3.23 | -73.13 | -52.36 | 0.75 | -88.37 | -93.92 | -0.23 | -104.18 | -102.2 | -0.06 | -103.9 | -101.41 | 0.08 | -89.47 | -95.15 | 0.12 | 0.0 | -20.0 | 16.97 | -25.93 | -36.47 | 132.04 | -2.56 | -13.98 | 450.00 | 142.65 | 718.18 | -350.00 | -309.57 | -877.78 | 26.78 | -3.53 | 6.44 |
| 22Q4 (16) | 29.34 | 2.84 | 88.32 | 12.02 | 45.34 | 358.78 | 6.45 | -71.9 | 526.21 | 5.50 | -69.53 | 414.02 | 1.54 | -68.57 | 180.0 | 0.76 | -65.61 | 216.67 | 0.12 | 0.0 | -33.33 | 22.91 | -42.87 | 63.76 | 135.51 | 8.73 | -33.2 | 185.45 | 414.21 | -27.14 | -85.45 | -233.66 | 44.71 | 27.76 | -22.52 | 6.85 |
| 22Q3 (15) | 28.53 | 28.92 | 123.24 | 8.27 | 11.16 | 392.23 | 22.95 | 63.58 | 1534.38 | 18.05 | 55.2 | 927.98 | 4.90 | 13.43 | 656.82 | 2.21 | 17.55 | 1104.55 | 0.12 | -20.0 | -20.0 | 40.10 | 42.91 | 177.32 | 124.63 | -11.03 | -28.23 | 36.07 | -31.62 | -80.46 | 63.93 | 37.27 | 183.11 | 35.83 | 41.9 | 22.58 |
| 22Q2 (14) | 22.13 | 4.88 | 32.83 | 7.44 | 9.73 | 947.89 | 14.03 | 13.79 | 542.59 | 11.63 | 11.19 | 415.18 | 4.32 | 1.41 | 384.21 | 1.88 | 13.94 | 468.63 | 0.15 | 0.0 | 0.0 | 28.06 | 5.05 | 142.94 | 140.08 | -8.74 | -13.73 | 52.74 | -4.11 | 337.33 | 46.58 | 3.5 | -63.01 | 25.25 | 0.36 | -15.52 |
| 22Q1 (13) | 21.10 | 35.43 | 7.93 | 6.78 | 158.78 | 80.32 | 12.33 | 1097.09 | 230.56 | 10.46 | 877.57 | 221.85 | 4.26 | 674.55 | 166.25 | 1.65 | 587.5 | 157.81 | 0.15 | -16.67 | -11.76 | 26.71 | 90.92 | 70.67 | 153.50 | -24.33 | -13.25 | 55.00 | -78.39 | -45.0 | 45.00 | 129.12 | 0 | 25.16 | -3.16 | -12.88 |
| 21Q4 (12) | 15.58 | 21.91 | -12.52 | 2.62 | 192.58 | 431.65 | 1.03 | 164.37 | 100.84 | 1.07 | 149.08 | 101.06 | 0.55 | 162.5 | 101.12 | 0.24 | 209.09 | 101.05 | 0.18 | 20.0 | -21.74 | 13.99 | -3.25 | 112.27 | 202.86 | 16.82 | 4.33 | 254.55 | 37.88 | 37668.18 | -154.55 | -100.91 | -255.59 | 25.98 | -11.12 | -3.92 |
| 21Q3 (11) | 12.78 | -23.29 | -42.77 | -2.83 | -498.59 | -158.11 | -1.60 | 49.53 | -193.57 | -2.18 | 40.92 | -292.92 | -0.88 | 42.11 | -320.0 | -0.22 | 56.86 | -164.71 | 0.15 | 0.0 | -34.78 | 14.46 | 25.19 | 24.76 | 173.65 | 6.94 | 172.56 | 184.62 | 930.77 | -35.6 | -76.92 | -161.09 | 58.79 | 29.23 | -2.21 | 7.58 |
| 21Q2 (10) | 16.66 | -14.78 | -27.85 | 0.71 | -81.12 | -80.22 | -3.17 | -184.99 | -8025.0 | -3.69 | -213.54 | -450.75 | -1.52 | -195.0 | -590.91 | -0.51 | -179.69 | -628.57 | 0.15 | -11.76 | -31.82 | 11.55 | -26.2 | 1.67 | 162.38 | -8.23 | 195.45 | -22.22 | -122.22 | 0 | 125.93 | 0 | 0 | 29.89 | 3.5 | 1.08 |
| 21Q1 (9) | 19.55 | 9.77 | 43.12 | 3.76 | 575.95 | 136.97 | 3.73 | 103.02 | 141.49 | 3.25 | 103.23 | 140.57 | 1.60 | 103.26 | 191.43 | 0.64 | 102.79 | 156.64 | 0.17 | -26.09 | 13.33 | 15.65 | 113.72 | 84.12 | 176.94 | -9.0 | 290.17 | 100.00 | 14737.5 | -10.91 | 0.00 | -100.0 | 100.0 | 28.88 | 6.8 | 0 |
| 20Q4 (8) | 17.81 | -20.24 | -37.88 | -0.79 | -116.22 | -110.81 | -123.33 | -7312.28 | -15125.93 | -100.53 | -8996.46 | -3477.58 | -49.05 | -12362.5 | -6712.5 | -22.93 | -6844.12 | -5232.56 | 0.23 | 0.0 | 27.78 | -114.03 | -1083.87 | -794.88 | 194.45 | 205.21 | 345.17 | 0.67 | -99.76 | 100.07 | 99.33 | 153.21 | -90.45 | 27.04 | -0.48 | -7.74 |
| 20Q3 (7) | 22.33 | -3.29 | -0.36 | 4.87 | 35.65 | 72.7 | 1.71 | 4175.0 | -60.51 | 1.13 | 268.66 | -57.52 | 0.40 | 281.82 | -40.3 | 0.34 | 585.71 | -32.0 | 0.23 | 4.55 | 35.29 | 11.59 | 2.02 | -37.72 | 63.71 | 15.92 | 39.38 | 286.67 | 0 | 330.0 | -186.67 | 0 | -604.0 | 27.17 | -8.12 | -21.29 |
| 20Q2 (6) | 23.09 | 69.03 | 24.07 | 3.59 | 135.3 | 192.05 | 0.04 | 100.44 | 101.26 | -0.67 | 91.64 | 83.82 | -0.22 | 87.43 | 75.82 | -0.07 | 93.81 | 87.93 | 0.22 | 46.67 | 46.67 | 11.36 | 33.65 | -3.07 | 54.96 | 21.19 | 19.53 | 0.00 | -100.0 | -100.0 | 0.00 | 100.0 | 100.0 | 29.57 | 0 | -11.86 |
| 20Q1 (5) | 13.66 | -52.35 | -53.17 | -10.17 | -239.12 | -340.26 | -8.99 | -1009.88 | -1504.69 | -8.01 | -185.05 | -1920.45 | -1.75 | -143.06 | -2600.0 | -1.13 | -162.79 | -1355.56 | 0.15 | -16.67 | 36.36 | 8.50 | -48.2 | -56.85 | 45.35 | 3.82 | 6.41 | 112.24 | 111.94 | 137.41 | -12.24 | -101.18 | -103.06 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 28.67 | 27.93 | 0.0 | 7.31 | 159.22 | 0.0 | -0.81 | -118.71 | 0.0 | -2.81 | -205.64 | 0.0 | -0.72 | -207.46 | 0.0 | -0.43 | -186.0 | 0.0 | 0.18 | 5.88 | 0.0 | 16.41 | -11.82 | 0.0 | 43.68 | -4.44 | 0.0 | -940.00 | -1510.0 | 0.0 | 1040.00 | 2708.0 | 0.0 | 29.31 | -15.09 | 0.0 |
| 19Q3 (3) | 22.41 | 20.42 | 0.0 | 2.82 | 172.31 | 0.0 | 4.33 | 236.59 | 0.0 | 2.66 | 164.25 | 0.0 | 0.67 | 173.63 | 0.0 | 0.50 | 186.21 | 0.0 | 0.17 | 13.33 | 0.0 | 18.61 | 58.79 | 0.0 | 45.71 | -0.59 | 0.0 | 66.67 | -45.45 | 0.0 | 37.04 | 266.67 | 0.0 | 34.52 | 2.89 | 0.0 |
| 19Q2 (2) | 18.61 | -36.2 | 0.0 | -3.90 | -68.83 | 0.0 | -3.17 | -595.31 | 0.0 | -4.14 | -1040.91 | 0.0 | -0.91 | -1400.0 | 0.0 | -0.58 | -744.44 | 0.0 | 0.15 | 36.36 | 0.0 | 11.72 | -40.51 | 0.0 | 45.98 | 7.88 | 0.0 | 122.22 | 140.74 | 0.0 | -22.22 | -105.56 | 0.0 | 33.55 | -24.13 | 0.0 |
| 19Q1 (1) | 29.17 | 0.0 | 0.0 | -2.31 | 0.0 | 0.0 | 0.64 | 0.0 | 0.0 | 0.44 | 0.0 | 0.0 | 0.07 | 0.0 | 0.0 | 0.09 | 0.0 | 0.0 | 0.11 | 0.0 | 0.0 | 19.70 | 0.0 | 0.0 | 42.62 | 0.0 | 0.0 | -300.00 | 0.0 | 0.0 | 400.00 | 0.0 | 0.0 | 44.22 | 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) | 26.27 | 5.42 | 12.02 | 41.25 | 10.14 | -14.09 | 12.67 | -7.92 | 10.00 | -11.43 | 12.53 | -22.32 | 5.91 | -10.18 | 0.55 | 1.85 | 25.98 | -10.84 | 123.55 | -8.83 | 94.86 | 53.24 | 5.14 | -86.51 | 8.66 | -11.95 | 24.07 | -14.37 |
| 2022 (9) | 24.92 | 54.21 | 8.51 | 615.13 | 11.80 | 9.56 | 13.76 | 15188.89 | 11.29 | 0 | 16.13 | 0 | 6.58 | 5881.82 | 0.54 | -20.59 | 29.14 | 109.79 | 135.51 | -33.2 | 61.90 | -95.78 | 38.10 | 0 | 9.84 | -21.19 | 28.11 | -0.88 |
| 2021 (8) | 16.16 | -17.93 | 1.19 | 310.34 | 10.77 | 7.81 | 0.09 | 0 | -0.27 | 0 | -0.56 | 0 | 0.11 | 0 | 0.68 | -15.0 | 13.89 | 0 | 202.86 | 4.33 | 1466.67 | 0 | -1333.33 | 0 | 12.49 | 1270.66 | 28.36 | -3.93 |
| 2020 (7) | 19.69 | -19.5 | 0.29 | -80.92 | 9.99 | -32.64 | -38.21 | 0 | -31.51 | 0 | -50.43 | 0 | -24.89 | 0 | 0.80 | 26.98 | -26.83 | 0 | 194.45 | 345.17 | -0.74 | 0 | 100.82 | 0 | 0.91 | -63.64 | 29.52 | -14.06 |
| 2019 (6) | 24.46 | -23.2 | 1.52 | -88.28 | 14.83 | 51.56 | 0.31 | -97.93 | -1.02 | 0 | -0.90 | 0 | -0.43 | 0 | 0.63 | -14.86 | 16.44 | -35.63 | 43.68 | 26.24 | 485.71 | 459.63 | -385.71 | 0 | 2.51 | 26.8 | 34.35 | 19.48 |
| 2018 (5) | 31.85 | -1.7 | 12.97 | -0.92 | 9.78 | -11.08 | 14.98 | 56.86 | 11.03 | 42.69 | 11.81 | 16.58 | 8.34 | 27.72 | 0.74 | -8.64 | 25.54 | 20.13 | 34.60 | -45.91 | 86.79 | -36.43 | 13.52 | 0 | 1.98 | 0 | 28.75 | -9.16 |
| 2017 (4) | 32.40 | 16.38 | 13.09 | 47.24 | 11.00 | -26.68 | 9.55 | 25.33 | 7.73 | 19.29 | 10.13 | 32.77 | 6.53 | 30.6 | 0.81 | 10.96 | 21.26 | -8.87 | 63.97 | 4.17 | 136.53 | 17.62 | -37.13 | 0 | 0.00 | 0 | 31.65 | -7.4 |
| 2016 (3) | 27.84 | 135.53 | 8.89 | 0 | 15.01 | -7.9 | 7.62 | 0 | 6.48 | 0 | 7.63 | 0 | 5.00 | 0 | 0.73 | 14.06 | 23.33 | 151.67 | 61.41 | -0.57 | 116.07 | 1.3 | -16.96 | 0 | 0.00 | 0 | 34.18 | -5.55 |
| 2015 (2) | 11.82 | -50.85 | -8.80 | 0 | 16.29 | 15.78 | -7.69 | 0 | -8.19 | 0 | -8.66 | 0 | -5.03 | 0 | 0.64 | -15.79 | 9.27 | -60.97 | 61.76 | -10.49 | 114.58 | 60.17 | -14.58 | 0 | 0.00 | 0 | 36.19 | -18.07 |
| 2014 (1) | 24.05 | 0 | 6.28 | 0 | 14.07 | 24.98 | 8.82 | 0 | 7.05 | 0 | 9.82 | 0 | 5.80 | 0 | 0.76 | -2.56 | 23.75 | 9.3 | 69.00 | -30.56 | 71.54 | -17.66 | 29.23 | 137.74 | 0.00 | 0 | 44.17 | 40.76 |
