- 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) | 14.14 | -15.93 | -43.98 | -16.05 | 35.8 | -855.36 | -20.37 | -68.21 | -1295.21 | -15.85 | -49.39 | -1168.0 | -1.74 | -64.15 | -987.5 | -1.65 | -65.0 | -1078.57 | 0.10 | 11.11 | -9.09 | -12.62 | -299.37 | -371.4 | 5.75 | 1.41 | -38.3 | 80.95 | -59.52 | -19.05 | 19.05 | 119.05 | 0 | 40.82 | -4.34 | 21.71 |
| 23Q3 (19) | 16.82 | 15.36 | -26.42 | -25.00 | -48.63 | -671.6 | -12.11 | 10.43 | -199.84 | -10.61 | -24.68 | -189.08 | -1.06 | -29.27 | -159.89 | -1.00 | -31.58 | -164.94 | 0.09 | 0.0 | -30.77 | -3.16 | 26.51 | -118.47 | 5.67 | -25.59 | -52.51 | 200.00 | 62.5 | 820.0 | -100.00 | -333.33 | -178.26 | 42.67 | 9.07 | 18.3 |
| 23Q2 (18) | 14.58 | 12.07 | -30.64 | -16.82 | -5.99 | -819.13 | -13.52 | 5.32 | -241.13 | -8.51 | 24.96 | -228.16 | -0.82 | 42.66 | -194.25 | -0.76 | 42.42 | -201.33 | 0.09 | -25.0 | -18.18 | -4.30 | 45.36 | -128.05 | 7.62 | -4.03 | -57.53 | 123.08 | 10.77 | 633.33 | -23.08 | -107.69 | -118.75 | 39.12 | 1.5 | 23.45 |
| 23Q1 (17) | 13.01 | -48.45 | -40.38 | -15.87 | -844.64 | -316.54 | -14.28 | -878.08 | -594.12 | -11.34 | -807.2 | -637.44 | -1.43 | -793.75 | -593.1 | -1.32 | -842.86 | -628.0 | 0.12 | 9.09 | 0.0 | -7.87 | -269.25 | -196.45 | 7.94 | -14.81 | -43.16 | 111.11 | 11.11 | 174.07 | -11.11 | 0 | -104.44 | 38.54 | 14.91 | 10.27 |
| 22Q4 (16) | 25.24 | 10.41 | -15.84 | -1.68 | 48.15 | -119.24 | -1.46 | -112.04 | -113.21 | -1.25 | -110.5 | -116.76 | -0.16 | -109.04 | -112.9 | -0.14 | -109.09 | -113.08 | 0.11 | -15.38 | -21.43 | 4.65 | -72.82 | -69.86 | 9.32 | -21.94 | -42.26 | 100.00 | 460.0 | 26.67 | -0.00 | -100.0 | -100.0 | 33.54 | -7.01 | 24.59 |
| 22Q3 (15) | 22.86 | 8.75 | -15.02 | -3.24 | -77.05 | -298.77 | 12.13 | 26.62 | 318.28 | 11.91 | 79.37 | 2052.46 | 1.77 | 103.45 | 2312.5 | 1.54 | 105.33 | 2300.0 | 0.13 | 18.18 | 18.18 | 17.11 | 11.61 | 129.66 | 11.94 | -33.44 | -24.48 | -27.78 | -20.37 | -146.3 | 127.78 | 3.82 | 219.44 | 36.07 | 13.82 | 21.33 |
| 22Q2 (14) | 21.02 | -3.67 | -39.55 | -1.83 | 51.97 | -109.35 | 9.58 | 231.49 | -29.61 | 6.64 | 214.69 | -49.96 | 0.87 | 200.0 | -63.14 | 0.75 | 200.0 | -61.54 | 0.11 | -8.33 | -26.67 | 15.33 | 87.87 | -4.78 | 17.94 | 28.42 | 13.54 | -23.08 | 84.62 | -115.98 | 123.08 | -50.77 | 376.92 | 31.69 | -9.33 | 51.41 |
| 22Q1 (13) | 21.82 | -27.24 | -29.91 | -3.81 | -143.64 | -118.34 | 2.89 | -73.85 | -86.23 | 2.11 | -71.72 | -87.6 | 0.29 | -76.61 | -93.63 | 0.25 | -76.64 | -92.63 | 0.12 | -14.29 | -40.0 | 8.16 | -47.12 | -64.16 | 13.97 | -13.44 | -47.56 | -150.00 | -290.0 | -251.9 | 250.00 | 1087.5 | 19900.0 | 34.95 | 29.83 | 76.87 |
| 21Q4 (12) | 29.99 | 11.49 | -10.32 | 8.73 | 435.58 | -53.79 | 11.05 | 281.03 | -35.27 | 7.46 | 1322.95 | -45.63 | 1.24 | 1650.0 | -84.1 | 1.07 | 1628.57 | -80.07 | 0.14 | 27.27 | -64.1 | 15.43 | 107.11 | -14.04 | 16.14 | 2.09 | -62.39 | 78.95 | 31.58 | -28.95 | 21.05 | -47.37 | 304.05 | 26.92 | -9.45 | 18.9 |
| 21Q3 (11) | 26.90 | -22.63 | -30.54 | 1.63 | -91.67 | -94.76 | 2.90 | -78.69 | -90.02 | -0.61 | -104.6 | -102.62 | -0.08 | -103.39 | -100.53 | -0.07 | -103.59 | -100.69 | 0.11 | -26.67 | -75.0 | 7.45 | -53.73 | -74.98 | 15.81 | 0.06 | -66.85 | 60.00 | -58.46 | -43.9 | 40.00 | 190.0 | 676.0 | 29.73 | 42.04 | 79.96 |
| 21Q2 (10) | 34.77 | 11.69 | -42.04 | 19.57 | -5.78 | -61.16 | 13.61 | -35.16 | -72.6 | 13.27 | -22.03 | -67.63 | 2.36 | -48.13 | -92.82 | 1.95 | -42.48 | -91.6 | 0.15 | -25.0 | -73.68 | 16.10 | -29.29 | -68.02 | 15.80 | -40.69 | -68.23 | 144.44 | 46.27 | 42.51 | -44.44 | -3655.56 | -3171.11 | 20.93 | 5.92 | 0 |
| 21Q1 (9) | 31.13 | -6.91 | -52.67 | 20.77 | 9.95 | -60.6 | 20.99 | 22.96 | -60.52 | 17.02 | 24.05 | -57.81 | 4.55 | -41.67 | -78.88 | 3.39 | -36.87 | -80.21 | 0.20 | -48.72 | -52.38 | 22.77 | 26.85 | -58.18 | 26.64 | -37.92 | -15.11 | 98.75 | -11.12 | -0.3 | 1.25 | 112.12 | 30.63 | 19.76 | -12.72 | 4.94 |
| 20Q4 (8) | 33.44 | -13.66 | 54.81 | 18.89 | -39.28 | 261.88 | 17.07 | -41.26 | 423.62 | 13.72 | -40.96 | 269.81 | 7.80 | -48.14 | 602.7 | 5.37 | -46.94 | 477.42 | 0.39 | -11.36 | 56.0 | 17.95 | -39.72 | 194.75 | 42.91 | -10.02 | 127.16 | 111.11 | 3.9 | -33.33 | -10.32 | -48.57 | 84.52 | 22.64 | 37.05 | -6.68 |
| 20Q3 (7) | 38.73 | -35.44 | 38.27 | 31.11 | -38.26 | 383.83 | 29.06 | -41.49 | 274.97 | 23.24 | -43.32 | 359.29 | 15.04 | -54.26 | 822.7 | 10.12 | -56.4 | 649.63 | 0.44 | -22.81 | 62.96 | 29.78 | -40.84 | 185.52 | 47.69 | -4.12 | 151.8 | 106.94 | 5.51 | 22.22 | -6.94 | -411.11 | -137.04 | 16.52 | 0 | -39.84 |
| 20Q2 (6) | 59.99 | -8.79 | 166.74 | 50.39 | -4.4 | 990.69 | 49.67 | -6.58 | 731.99 | 41.00 | 1.64 | 777.94 | 32.88 | 52.65 | 2092.0 | 23.21 | 35.49 | 1742.06 | 0.57 | 35.71 | 111.11 | 50.34 | -7.55 | 464.35 | 49.74 | 58.51 | 121.46 | 101.36 | 2.34 | 31.77 | -1.36 | -241.98 | -105.89 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 65.77 | 204.49 | 204.77 | 52.71 | 909.77 | 2610.0 | 53.17 | 1530.98 | 27884.21 | 40.34 | 987.33 | 7809.8 | 21.54 | 1840.54 | 17850.0 | 17.13 | 1741.94 | 15472.73 | 0.42 | 68.0 | 100.0 | 54.45 | 794.09 | 1387.7 | 31.38 | 66.12 | 88.92 | 99.04 | -40.57 | 0 | 0.96 | 101.44 | 0 | 18.83 | -22.38 | -44.09 |
| 19Q4 (4) | 21.60 | -22.88 | 0.0 | 5.22 | -18.82 | 0.0 | 3.26 | -57.94 | 0.0 | 3.71 | -26.68 | 0.0 | 1.11 | -31.9 | 0.0 | 0.93 | -31.11 | 0.0 | 0.25 | -7.41 | 0.0 | 6.09 | -41.61 | 0.0 | 18.89 | -0.26 | 0.0 | 166.67 | 90.48 | 0.0 | -66.67 | -455.56 | 0.0 | 24.26 | -11.65 | 0.0 |
| 19Q3 (3) | 28.01 | 24.54 | 0.0 | 6.43 | 39.18 | 0.0 | 7.75 | 29.82 | 0.0 | 5.06 | 8.35 | 0.0 | 1.63 | 8.67 | 0.0 | 1.35 | 7.14 | 0.0 | 0.27 | 0.0 | 0.0 | 10.43 | 16.93 | 0.0 | 18.94 | -15.67 | 0.0 | 87.50 | 13.75 | 0.0 | 18.75 | -18.75 | 0.0 | 27.46 | 7.77 | 0.0 |
| 19Q2 (2) | 22.49 | 4.22 | 0.0 | 4.62 | 320.0 | 0.0 | 5.97 | 3042.11 | 0.0 | 4.67 | 815.69 | 0.0 | 1.50 | 1150.0 | 0.0 | 1.26 | 1045.45 | 0.0 | 0.27 | 28.57 | 0.0 | 8.92 | 143.72 | 0.0 | 22.46 | 35.22 | 0.0 | 76.92 | 0 | 0.0 | 23.08 | 0 | 0.0 | 25.48 | -24.35 | 0.0 |
| 19Q1 (1) | 21.58 | 0.0 | 0.0 | -2.10 | 0.0 | 0.0 | 0.19 | 0.0 | 0.0 | 0.51 | 0.0 | 0.0 | 0.12 | 0.0 | 0.0 | 0.11 | 0.0 | 0.0 | 0.21 | 0.0 | 0.0 | 3.66 | 0.0 | 0.0 | 16.61 | 0.0 | 0.0 | 0.00 | 0.0 | 0.0 | 0.00 | 0.0 | 0.0 | 33.68 | 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) | 14.50 | -36.1 | -18.20 | 0 | 6.46 | 40.37 | -15.11 | 0 | -11.65 | 0 | -5.01 | 0 | -4.65 | 0 | 0.40 | -16.67 | -7.18 | 0 | 5.75 | -38.3 | 120.63 | 0 | -20.63 | 0 | 0.72 | 99.67 | 40.17 | 17.66 |
| 2022 (9) | 22.69 | -27.32 | -2.69 | 0 | 4.60 | 81.31 | 6.00 | -57.92 | 5.08 | -55.52 | 2.74 | -70.6 | 2.43 | -65.82 | 0.48 | -22.58 | 11.33 | -33.97 | 9.32 | -42.26 | -44.12 | 0 | 144.12 | 0 | 0.36 | -36.56 | 34.14 | 48.56 |
| 2021 (8) | 31.22 | -34.01 | 15.17 | -58.27 | 2.54 | 232.11 | 14.26 | -59.4 | 11.42 | -59.42 | 9.32 | -87.31 | 7.11 | -86.93 | 0.62 | -67.88 | 17.16 | -52.28 | 16.14 | -62.39 | 105.67 | 2.12 | -6.38 | 0 | 0.56 | 262.23 | 22.98 | 25.37 |
| 2020 (7) | 47.31 | 100.81 | 36.35 | 844.16 | 0.76 | -66.67 | 35.12 | 668.49 | 28.14 | 668.85 | 73.43 | 1591.94 | 54.39 | 1394.23 | 1.93 | 94.95 | 35.96 | 378.19 | 42.91 | 127.16 | 103.48 | 24.18 | -3.48 | 0 | 0.16 | -38.99 | 18.33 | -33.15 |
| 2019 (6) | 23.56 | 14.09 | 3.85 | 198.45 | 2.29 | 16.8 | 4.57 | 88.07 | 3.66 | 109.14 | 4.34 | 103.76 | 3.64 | 104.49 | 0.99 | -2.94 | 7.52 | 46.02 | 18.89 | -3.38 | 83.33 | 66.67 | 16.67 | -62.96 | 0.26 | -66.11 | 27.42 | -0.9 |
| 2018 (5) | 20.65 | -15.58 | 1.29 | -69.65 | 1.96 | -5.4 | 2.43 | 0.41 | 1.75 | 1.74 | 2.13 | 8.67 | 1.78 | 8.54 | 1.02 | 7.37 | 5.15 | -5.5 | 19.55 | -2.93 | 50.00 | -71.21 | 45.00 | 0 | 0.75 | 0 | 27.67 | 1.06 |
| 2017 (4) | 24.46 | -5.38 | 4.25 | -31.45 | 2.08 | -9.56 | 2.42 | -56.16 | 1.72 | -60.82 | 1.96 | -61.57 | 1.64 | -61.32 | 0.95 | -2.06 | 5.45 | -39.85 | 20.14 | 5.78 | 173.68 | 56.66 | -73.68 | 0 | 0.00 | 0 | 27.38 | 6.79 |
| 2016 (3) | 25.85 | 2.42 | 6.20 | -12.06 | 2.29 | 10.51 | 5.52 | -37.98 | 4.39 | -42.76 | 5.10 | -47.37 | 4.24 | -46.46 | 0.97 | -5.83 | 9.06 | -21.76 | 19.04 | -10.9 | 110.87 | 39.87 | -13.04 | 0 | 0.00 | 0 | 25.64 | -0.08 |
| 2015 (2) | 25.24 | 7.73 | 7.05 | 80.77 | 2.08 | -9.49 | 8.90 | 40.6 | 7.67 | 56.85 | 9.69 | 56.29 | 7.92 | 57.14 | 1.03 | 0.98 | 11.58 | 28.1 | 21.37 | -8.28 | 79.27 | 28.47 | 20.73 | -45.87 | 0.00 | 0 | 25.66 | -4.65 |
| 2014 (1) | 23.43 | 0 | 3.90 | 0 | 2.29 | -19.94 | 6.33 | 0 | 4.89 | 0 | 6.20 | 0 | 5.04 | 0 | 1.02 | -13.56 | 9.04 | 71.21 | 23.30 | -10.59 | 61.70 | -10.87 | 38.30 | 24.47 | 0.00 | 0 | 26.91 | -2.64 |
