- 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) | 39.69 | 32.96 | 85.73 | 6.04 | 212.9 | 135.93 | 0.25 | -92.31 | 101.06 | 0.93 | -68.58 | 105.39 | 0.10 | -70.59 | 104.98 | 0.09 | -68.97 | 105.0 | 0.10 | 0.0 | 0.0 | 7.69 | -26.13 | 151.68 | 12.96 | -5.4 | 26.07 | 1300.00 | 858.33 | 1757.14 | -1200.00 | -542.11 | -4463.64 | 24.49 | -9.16 | -11.94 |
| 23Q3 (19) | 29.85 | -10.25 | -7.27 | -5.35 | -265.12 | 19.67 | 3.25 | -67.37 | -69.68 | 2.96 | -61.1 | -68.48 | 0.34 | -69.91 | -73.85 | 0.29 | -70.41 | -72.64 | 0.10 | -23.08 | -9.09 | 10.41 | -36.02 | -41.58 | 13.70 | -31.33 | 5.3 | -171.43 | -635.71 | -190.11 | 271.43 | 299.16 | 70.61 | 26.96 | 15.86 | -15.49 |
| 23Q2 (18) | 33.26 | 64.57 | -15.2 | 3.24 | 118.98 | -72.33 | 9.96 | 157.24 | -56.56 | 7.61 | 154.67 | -60.36 | 1.13 | 158.55 | -71.1 | 0.98 | 156.0 | -67.76 | 0.13 | 0.0 | -18.75 | 16.27 | 261.89 | -40.66 | 19.95 | 123.4 | -39.16 | 32.00 | -67.06 | -36.89 | 68.00 | 2280.0 | 37.94 | 23.27 | -22.25 | -1.15 |
| 23Q1 (17) | 20.21 | -5.43 | -45.58 | -17.07 | -1.55 | -225.88 | -17.40 | 26.08 | -184.47 | -13.92 | 19.26 | -184.47 | -1.93 | 3.98 | -151.88 | -1.75 | 2.78 | -159.52 | 0.13 | 30.0 | -27.78 | -10.05 | 32.46 | -141.48 | 8.93 | -13.13 | -64.97 | 97.14 | 38.78 | 47.74 | 2.86 | -89.61 | -91.66 | 29.93 | 7.62 | 44.73 |
| 22Q4 (16) | 21.37 | -33.61 | -46.79 | -16.81 | -152.4 | -204.09 | -23.54 | -319.59 | -253.46 | -17.24 | -283.6 | -224.75 | -2.01 | -254.62 | -164.63 | -1.80 | -269.81 | -174.69 | 0.10 | -9.09 | -41.18 | -14.88 | -183.5 | -178.52 | 10.28 | -20.98 | -63.92 | 70.00 | 218.46 | -32.55 | 27.50 | -82.71 | 585.83 | 27.81 | -12.82 | 35.99 |
| 22Q3 (15) | 32.19 | -17.92 | -30.88 | -6.66 | -156.87 | -128.05 | 10.72 | -53.25 | -54.69 | 9.39 | -51.09 | -50.16 | 1.30 | -66.75 | -76.95 | 1.06 | -65.13 | -75.29 | 0.11 | -31.25 | -52.17 | 17.82 | -35.01 | -33.48 | 13.01 | -60.32 | -57.25 | -59.09 | -216.54 | -159.09 | 159.09 | 222.73 | 0 | 31.90 | 35.51 | 75.85 |
| 22Q2 (14) | 39.22 | 5.6 | -6.51 | 11.71 | -13.64 | -40.5 | 22.93 | 11.31 | 35.92 | 19.20 | 16.5 | 42.01 | 3.91 | 5.11 | -5.1 | 3.04 | 3.4 | -5.0 | 0.16 | -11.11 | -33.33 | 27.42 | 13.17 | 38.07 | 32.79 | 28.64 | -0.3 | 50.70 | -22.89 | -56.63 | 49.30 | 43.94 | 391.67 | 23.54 | 13.83 | 38.96 |
| 22Q1 (13) | 37.14 | -7.52 | -6.0 | 13.56 | -16.04 | -25.74 | 20.60 | 34.29 | 10.46 | 16.48 | 19.25 | 10.46 | 3.72 | 19.61 | -12.26 | 2.94 | 21.99 | -12.24 | 0.18 | 5.88 | -18.18 | 24.23 | 27.86 | 10.04 | 25.49 | -10.53 | 1.68 | 65.75 | -36.64 | -33.29 | 34.25 | 705.02 | 2297.26 | 20.68 | 1.12 | 7.71 |
| 21Q4 (12) | 40.16 | -13.76 | 4.28 | 16.15 | -31.97 | 6.18 | 15.34 | -35.16 | 5.28 | 13.82 | -26.65 | 21.98 | 3.11 | -44.86 | -4.31 | 2.41 | -43.82 | -5.86 | 0.17 | -26.09 | -22.73 | 18.95 | -29.26 | 3.21 | 28.49 | -6.38 | 1.03 | 103.77 | 3.77 | 0.0 | -5.66 | 0 | -50.0 | 20.45 | 12.73 | 14.37 |
| 21Q3 (11) | 46.57 | 11.01 | 27.94 | 23.74 | 20.63 | 79.17 | 23.66 | 40.25 | 115.88 | 18.84 | 39.35 | 75.58 | 5.64 | 36.89 | 100.0 | 4.29 | 34.06 | 84.91 | 0.23 | -4.17 | 4.55 | 26.79 | 34.89 | 74.19 | 30.43 | -7.48 | 11.3 | 100.00 | -14.46 | -17.39 | 0.00 | 100.0 | 100.0 | 18.14 | 7.08 | 1.11 |
| 21Q2 (10) | 41.95 | 6.18 | 33.77 | 19.68 | 7.78 | 248.94 | 16.87 | -9.54 | 475.77 | 13.52 | -9.38 | 253.0 | 4.12 | -2.83 | 428.21 | 3.20 | -4.48 | 370.59 | 0.24 | 9.09 | 33.33 | 19.86 | -9.81 | 136.71 | 32.89 | 31.19 | 105.82 | 116.90 | 18.6 | -41.55 | -16.90 | -1283.1 | 83.1 | 16.94 | -11.77 | 0 |
| 21Q1 (9) | 39.51 | 2.6 | 20.13 | 18.26 | 20.05 | 268.15 | 18.65 | 28.0 | 162.31 | 14.92 | 31.69 | 114.06 | 4.24 | 30.46 | 205.04 | 3.35 | 30.86 | 176.86 | 0.22 | 0.0 | 29.41 | 22.02 | 19.93 | 80.05 | 25.07 | -11.1 | 76.92 | 98.57 | -5.01 | 40.82 | 1.43 | 137.86 | -95.24 | 19.20 | 7.38 | -12.41 |
| 20Q4 (8) | 38.51 | 5.8 | 27.05 | 15.21 | 14.79 | 376.8 | 14.57 | 32.94 | 1212.61 | 11.33 | 5.59 | 1021.78 | 3.25 | 15.25 | 1447.62 | 2.56 | 10.34 | 1247.37 | 0.22 | 0.0 | 22.22 | 18.36 | 19.38 | 104.68 | 28.20 | 3.15 | 91.19 | 103.77 | -14.27 | -65.41 | -3.77 | 82.08 | 98.11 | 17.88 | -0.33 | 9.36 |
| 20Q3 (7) | 36.40 | 16.07 | 12.35 | 13.25 | 134.93 | 927.13 | 10.96 | 274.06 | 598.09 | 10.73 | 180.16 | 655.63 | 2.82 | 261.54 | 907.14 | 2.32 | 241.18 | 866.67 | 0.22 | 22.22 | 29.41 | 15.38 | 83.31 | 55.51 | 27.34 | 71.09 | 87.9 | 121.05 | -39.47 | 21.05 | -21.05 | 78.95 | -184.21 | 17.94 | 0 | -16.71 |
| 20Q2 (6) | 31.36 | -4.65 | 3.98 | 5.64 | 13.71 | 380.6 | 2.93 | -58.79 | 797.62 | 3.83 | -45.05 | 1011.9 | 0.78 | -43.88 | 1075.0 | 0.68 | -43.8 | 1071.43 | 0.18 | 5.88 | 5.88 | 8.39 | -31.4 | 5.27 | 15.98 | 12.77 | 3.83 | 200.00 | 185.71 | -66.67 | -100.00 | -433.33 | 75.0 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 32.89 | 8.51 | 18.27 | 4.96 | 55.49 | 179.74 | 7.11 | 540.54 | 252.9 | 6.97 | 590.1 | 249.89 | 1.39 | 561.9 | 280.52 | 1.21 | 536.84 | 286.15 | 0.17 | -5.56 | 21.43 | 12.23 | 36.34 | 156.93 | 14.17 | -3.93 | 5.27 | 70.00 | -76.67 | -45.0 | 30.00 | 115.0 | 182.5 | 21.92 | 34.07 | -7.59 |
| 19Q4 (4) | 30.31 | -6.45 | 0.0 | 3.19 | 147.29 | 0.0 | 1.11 | -29.3 | 0.0 | 1.01 | -28.87 | 0.0 | 0.21 | -25.0 | 0.0 | 0.19 | -20.83 | 0.0 | 0.18 | 5.88 | 0.0 | 8.97 | -9.3 | 0.0 | 14.75 | 1.37 | 0.0 | 300.00 | 200.0 | 0.0 | -200.00 | -900.0 | 0.0 | 16.35 | -24.09 | 0.0 |
| 19Q3 (3) | 32.40 | 7.43 | 0.0 | 1.29 | 164.18 | 0.0 | 1.57 | 473.81 | 0.0 | 1.42 | 438.1 | 0.0 | 0.28 | 450.0 | 0.0 | 0.24 | 442.86 | 0.0 | 0.17 | 0.0 | 0.0 | 9.89 | 24.09 | 0.0 | 14.55 | -5.46 | 0.0 | 100.00 | -83.33 | 0.0 | 25.00 | 106.25 | 0.0 | 21.54 | -6.35 | 0.0 |
| 19Q2 (2) | 30.16 | 8.45 | 0.0 | -2.01 | 67.68 | 0.0 | -0.42 | 90.97 | 0.0 | -0.42 | 90.97 | 0.0 | -0.08 | 89.61 | 0.0 | -0.07 | 89.23 | 0.0 | 0.17 | 21.43 | 0.0 | 7.97 | 67.44 | 0.0 | 15.39 | 14.34 | 0.0 | 600.00 | 371.43 | 0.0 | -400.00 | -1000.0 | 0.0 | 23.00 | -3.04 | 0.0 |
| 19Q1 (1) | 27.81 | 0.0 | 0.0 | -6.22 | 0.0 | 0.0 | -4.65 | 0.0 | 0.0 | -4.65 | 0.0 | 0.0 | -0.77 | 0.0 | 0.0 | -0.65 | 0.0 | 0.0 | 0.14 | 0.0 | 0.0 | 4.76 | 0.0 | 0.0 | 13.46 | 0.0 | 0.0 | 127.27 | 0.0 | 0.0 | -36.36 | 0.0 | 0.0 | 23.72 | 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) | 30.97 | -9.52 | -2.84 | 0 | 4.43 | 14.78 | -0.20 | 0 | 0.00 | 0 | 0.00 | 0 | 0.01 | -99.83 | 0.47 | -18.97 | 6.70 | -61.87 | 12.96 | 26.07 | 1250.00 | 3562.79 | -1150.00 | 0 | 0.66 | 29.57 | 25.99 | 4.42 |
| 2022 (9) | 34.23 | -18.96 | 4.12 | -79.08 | 3.86 | 73.86 | 12.20 | -35.21 | 10.43 | -32.18 | 7.24 | -57.56 | 6.05 | -54.58 | 0.58 | -32.56 | 17.57 | -20.64 | 10.28 | -63.92 | 34.13 | -67.3 | 66.67 | 0 | 0.51 | 44.52 | 24.89 | 34.03 |
| 2021 (8) | 42.24 | 20.31 | 19.69 | 90.98 | 2.22 | -23.23 | 18.83 | 101.18 | 15.38 | 80.09 | 17.06 | 108.81 | 13.32 | 97.33 | 0.86 | 8.86 | 22.14 | 58.14 | 28.49 | 1.03 | 104.38 | -5.11 | -4.71 | 0 | 0.35 | -35.69 | 18.57 | -3.28 |
| 2020 (7) | 35.11 | 16.03 | 10.31 | 0 | 2.89 | -53.1 | 9.36 | 0 | 8.54 | 0 | 8.17 | 0 | 6.75 | 0 | 0.79 | 21.54 | 14.00 | 76.32 | 28.20 | 91.19 | 110.00 | -37.14 | -10.00 | 0 | 0.54 | -27.86 | 19.20 | -8.48 |
| 2019 (6) | 30.26 | 45.83 | -0.66 | 0 | 6.17 | 3.0 | -0.41 | 0 | -0.47 | 0 | -0.36 | 0 | -0.30 | 0 | 0.65 | 10.17 | 7.94 | 0 | 14.75 | -31.71 | 175.00 | 29.17 | -75.00 | 0 | 0.76 | -14.76 | 20.98 | -5.02 |
| 2018 (5) | 20.75 | -4.38 | -11.98 | 0 | 5.99 | 76.53 | -8.87 | 0 | -8.79 | 0 | -6.41 | 0 | -5.07 | 0 | 0.59 | -10.61 | -0.57 | 0 | 21.60 | -19.61 | 135.48 | 115.18 | -35.48 | 0 | 0.89 | 0 | 22.09 | 22.38 |
| 2017 (4) | 21.70 | 62.67 | -2.65 | 0 | 3.39 | 16.99 | -4.18 | 0 | -3.52 | 0 | -3.01 | 0 | -2.25 | 0 | 0.66 | 1.54 | 0.23 | -89.55 | 26.87 | -17.7 | 62.96 | -76.64 | 37.04 | 0 | 0.00 | 0 | 18.05 | 46.87 |
| 2016 (3) | 13.34 | -30.95 | -5.44 | 0 | 2.90 | 13.09 | -2.03 | 0 | -1.77 | 0 | -1.57 | 0 | -0.91 | 0 | 0.65 | 10.17 | 2.20 | -50.67 | 32.65 | -20.69 | 269.57 | 0 | -169.57 | 0 | 0.00 | 0 | 12.29 | 6.96 |
| 2015 (2) | 19.32 | -23.15 | 1.63 | -75.11 | 2.56 | 171.28 | 0.02 | -99.76 | 0.04 | -99.46 | 0.03 | -99.58 | 0.32 | -93.73 | 0.59 | -9.23 | 4.46 | -61.01 | 41.17 | -9.04 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 11.49 | -6.74 |
| 2014 (1) | 25.14 | 0 | 6.55 | 0 | 0.95 | 6.62 | 8.34 | 0 | 7.35 | 0 | 7.16 | 0 | 5.10 | 0 | 0.65 | -16.67 | 11.44 | -0.69 | 45.26 | -13.23 | 78.41 | 5.96 | 21.59 | -16.96 | 0.00 | 0 | 12.32 | 8.26 |
