- 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) | 3.41 | -52.57 | 122.81 | -5.94 | -116.0 | 77.74 | -5.51 | -135.47 | 77.91 | -6.06 | -85.32 | 76.56 | -1.40 | -75.0 | 70.65 | -0.77 | -108.11 | 74.5 | 0.14 | 0.0 | 16.67 | 9.66 | -18.27 | 215.97 | 56.21 | -18.3 | 8.77 | 107.81 | -8.38 | 0.75 | -7.81 | 55.78 | -11.41 | 19.50 | 16.84 | 2.31 |
| 23Q3 (19) | 7.19 | 1023.44 | 138.37 | -2.75 | 71.62 | 91.42 | -2.34 | 74.89 | 90.81 | -3.27 | 68.5 | 87.66 | -0.80 | 66.1 | 82.57 | -0.37 | 71.76 | 87.06 | 0.14 | 0.0 | 27.27 | 11.82 | 112.97 | 239.22 | 68.80 | 0.36 | 17.55 | 117.67 | 13.13 | -6.52 | -17.67 | -340.26 | 31.71 | 16.69 | -2.91 | -24.51 |
| 23Q2 (18) | 0.64 | 109.1 | -46.22 | -9.69 | 48.68 | 2.22 | -9.32 | 38.76 | -23.12 | -10.38 | 38.98 | -27.52 | -2.36 | 23.87 | -49.37 | -1.31 | 31.05 | -33.67 | 0.14 | 16.67 | 7.69 | 5.55 | 133.19 | -22.38 | 68.55 | 4.51 | 17.56 | 104.01 | -16.17 | -20.57 | -4.01 | 83.33 | 87.03 | 17.19 | -5.76 | -14.69 |
| 23Q1 (17) | -7.03 | 52.98 | -157.29 | -18.88 | 29.26 | -688.16 | -15.22 | 38.97 | -557.06 | -17.01 | 34.2 | -725.37 | -3.10 | 35.01 | -600.0 | -1.90 | 37.09 | -522.22 | 0.12 | 0.0 | -20.0 | 2.38 | 128.57 | -84.98 | 65.59 | 26.92 | 25.89 | 124.08 | 15.95 | 28.84 | -24.08 | -243.4 | -744.66 | 18.24 | -4.3 | 13.86 |
| 22Q4 (16) | -14.95 | 20.22 | -198.42 | -26.69 | 16.7 | -522.98 | -24.94 | 2.0 | -406.01 | -25.85 | 2.42 | -446.98 | -4.77 | -3.92 | -340.91 | -3.02 | -5.59 | -328.79 | 0.12 | 9.09 | -29.41 | -8.33 | 1.88 | -142.5 | 51.68 | -11.7 | -3.2 | 107.01 | -14.98 | 38.14 | -7.01 | 72.9 | -131.14 | 19.06 | -13.79 | 32.45 |
| 22Q3 (15) | -18.74 | -1674.79 | -164.93 | -32.04 | -223.31 | -256.9 | -25.45 | -236.2 | -218.59 | -26.49 | -225.43 | -232.52 | -4.59 | -190.51 | -171.38 | -2.86 | -191.84 | -168.75 | 0.11 | -15.38 | -47.62 | -8.49 | -218.74 | -126.88 | 58.53 | 0.38 | 6.79 | 125.87 | -3.88 | 32.27 | -25.87 | 16.41 | -635.09 | 22.11 | 9.73 | 50.1 |
| 22Q2 (14) | 1.19 | -90.3 | -96.4 | -9.91 | -408.72 | -138.86 | -7.57 | -327.33 | -130.26 | -8.14 | -399.26 | -135.44 | -1.58 | -354.84 | -119.87 | -0.98 | -317.78 | -119.18 | 0.13 | -13.33 | -40.91 | 7.15 | -54.89 | -79.61 | 58.31 | 11.92 | 1.53 | 130.95 | 35.97 | 28.47 | -30.95 | -928.58 | -1500.85 | 20.15 | 25.78 | 51.16 |
| 22Q1 (13) | 12.27 | -19.22 | -52.44 | 3.21 | -49.13 | -81.92 | 3.33 | -59.14 | -77.84 | 2.72 | -63.49 | -80.29 | 0.62 | -68.69 | -86.7 | 0.45 | -65.91 | -85.05 | 0.15 | -11.76 | -28.57 | 15.85 | -19.13 | -39.41 | 52.10 | -2.42 | -7.3 | 96.31 | 24.32 | -18.47 | 3.74 | -83.41 | 120.61 | 16.02 | 11.33 | 7.52 |
| 21Q4 (12) | 15.19 | -47.37 | -25.65 | 6.31 | -69.1 | -51.01 | 8.15 | -62.02 | -37.55 | 7.45 | -62.73 | -42.65 | 1.98 | -69.21 | -55.0 | 1.32 | -68.27 | -52.52 | 0.17 | -19.05 | -19.05 | 19.60 | -37.94 | -21.29 | 53.39 | -2.59 | -10.67 | 77.47 | -18.6 | -21.5 | 22.52 | 365.72 | 1625.17 | 14.39 | -2.31 | 11.64 |
| 21Q3 (11) | 28.86 | -12.81 | 210.66 | 20.42 | -19.92 | 1040.78 | 21.46 | -14.23 | 898.14 | 19.99 | -12.97 | 870.39 | 6.43 | -19.12 | 818.57 | 4.16 | -18.59 | 766.67 | 0.21 | -4.55 | 0.0 | 31.58 | -9.93 | 118.24 | 54.81 | -4.56 | -14.47 | 95.16 | -6.64 | 14.31 | 4.84 | 350.09 | -71.13 | 14.73 | 10.5 | 15.26 |
| 21Q2 (10) | 33.10 | 28.29 | 1094.95 | 25.50 | 43.66 | 606.96 | 25.02 | 66.47 | 491.55 | 22.97 | 66.45 | 421.71 | 7.95 | 70.6 | 469.77 | 5.11 | 69.77 | 499.22 | 0.22 | 4.76 | 15.79 | 35.06 | 34.02 | 384.92 | 57.43 | 2.19 | -8.87 | 101.93 | -13.7 | 29.53 | -1.93 | 89.33 | -109.07 | 13.33 | -10.54 | 0 |
| 21Q1 (9) | 25.80 | 26.28 | 1557.63 | 17.75 | 37.81 | 243.96 | 15.03 | 15.17 | 252.74 | 13.80 | 6.24 | 232.06 | 4.66 | 5.91 | 302.61 | 3.01 | 8.27 | 316.55 | 0.21 | 0.0 | 50.0 | 26.16 | 5.06 | 222.56 | 56.20 | -5.97 | -3.37 | 118.12 | 19.7 | -5.73 | -18.12 | -1488.3 | 28.32 | 14.90 | 15.59 | 0 |
| 20Q4 (8) | 20.43 | 119.91 | 1068.25 | 12.88 | 619.55 | 218.38 | 13.05 | 506.98 | 228.19 | 12.99 | 530.58 | 224.19 | 4.40 | 528.57 | 252.25 | 2.78 | 479.17 | 257.06 | 0.21 | 0.0 | 23.53 | 24.90 | 72.08 | 636.69 | 59.77 | -6.73 | 0.78 | 98.68 | 18.54 | -7.67 | 1.31 | -92.21 | 118.94 | 12.89 | 0.86 | -9.23 |
| 20Q3 (7) | 9.29 | 235.38 | 399.46 | 1.79 | 135.59 | 123.34 | 2.15 | 133.65 | 139.38 | 2.06 | 128.85 | 133.55 | 0.70 | 132.56 | 144.3 | 0.48 | 137.5 | 151.06 | 0.21 | 10.53 | 31.25 | 14.47 | 100.14 | 61.5 | 64.08 | 1.68 | 10.07 | 83.25 | 5.79 | -40.72 | 16.75 | -21.39 | 141.43 | 12.78 | 0 | -15.87 |
| 20Q2 (6) | 2.77 | 256.5 | -25.34 | -5.03 | 59.21 | 4.91 | -6.39 | 35.06 | -45.89 | -7.14 | 31.67 | -51.91 | -2.15 | 6.52 | -82.2 | -1.28 | 7.91 | -85.51 | 0.19 | 35.71 | 18.75 | 7.23 | -10.85 | -27.84 | 63.02 | 8.36 | 5.28 | 78.69 | -37.2 | -34.87 | 21.31 | 184.27 | 202.32 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | -1.77 | 16.11 | -221.23 | -12.33 | -13.33 | -60.34 | -9.84 | 3.34 | -62.38 | -10.45 | 0.1 | -68.01 | -2.30 | 20.42 | -56.46 | -1.39 | 21.47 | -61.63 | 0.14 | -17.65 | -6.67 | 8.11 | 139.94 | -10.29 | 58.16 | -1.94 | -2.47 | 125.30 | 17.24 | -1.22 | -25.28 | -266.76 | 5.92 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | -2.11 | -213.44 | 0.0 | -10.88 | -41.85 | 0.0 | -10.18 | -86.45 | 0.0 | -10.46 | -70.36 | 0.0 | -2.89 | -82.91 | 0.0 | -1.77 | -88.3 | 0.0 | 0.17 | 6.25 | 0.0 | 3.38 | -62.28 | 0.0 | 59.31 | 1.87 | 0.0 | 106.88 | -23.89 | 0.0 | -6.89 | 82.95 | 0.0 | 14.20 | -6.52 | 0.0 |
| 19Q3 (3) | 1.86 | -49.87 | 0.0 | -7.67 | -44.99 | 0.0 | -5.46 | -24.66 | 0.0 | -6.14 | -30.64 | 0.0 | -1.58 | -33.9 | 0.0 | -0.94 | -36.23 | 0.0 | 0.16 | 0.0 | 0.0 | 8.96 | -10.58 | 0.0 | 58.22 | -2.74 | 0.0 | 140.43 | 16.23 | 0.0 | -40.43 | -94.17 | 0.0 | 15.19 | 0.8 | 0.0 |
| 19Q2 (2) | 3.71 | 154.11 | 0.0 | -5.29 | 31.21 | 0.0 | -4.38 | 27.72 | 0.0 | -4.70 | 24.44 | 0.0 | -1.18 | 19.73 | 0.0 | -0.69 | 19.77 | 0.0 | 0.16 | 6.67 | 0.0 | 10.02 | 10.84 | 0.0 | 59.86 | 0.39 | 0.0 | 120.82 | -4.75 | 0.0 | -20.82 | 22.51 | 0.0 | 15.07 | -6.69 | 0.0 |
| 19Q1 (1) | 1.46 | 0.0 | 0.0 | -7.69 | 0.0 | 0.0 | -6.06 | 0.0 | 0.0 | -6.22 | 0.0 | 0.0 | -1.47 | 0.0 | 0.0 | -0.86 | 0.0 | 0.0 | 0.15 | 0.0 | 0.0 | 9.04 | 0.0 | 0.0 | 59.63 | 0.0 | 0.0 | 126.84 | 0.0 | 0.0 | -26.87 | 0.0 | 0.0 | 16.15 | 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) | 1.47 | 0 | -8.84 | 0 | 14.47 | 0.16 | -7.73 | 0 | -8.78 | 0 | -7.72 | 0 | -4.65 | 0 | 0.57 | 7.55 | 7.61 | 137.81 | 56.21 | 8.77 | 114.34 | -5.32 | -14.34 | 0 | 4.91 | 7.52 | 17.86 | -6.25 |
| 2022 (9) | -3.09 | 0 | -14.15 | 0 | 14.45 | 40.03 | -11.72 | 0 | -12.48 | 0 | -10.01 | 0 | -6.39 | 0 | 0.53 | -36.14 | 3.20 | -88.76 | 51.68 | -3.2 | 120.76 | 20.18 | -20.76 | 0 | 4.56 | 21.76 | 19.05 | 33.03 |
| 2021 (8) | 26.14 | 196.04 | 17.91 | 2573.13 | 10.32 | -21.26 | 17.83 | 1776.84 | 16.44 | 2595.08 | 21.22 | 2931.43 | 13.77 | 1986.36 | 0.83 | 15.28 | 28.48 | 96.28 | 53.39 | -10.67 | 100.48 | 41.8 | -0.48 | 0 | 3.75 | -18.75 | 14.32 | 1.34 |
| 2020 (7) | 8.83 | 635.83 | 0.67 | 0 | 13.10 | -5.34 | 0.95 | 0 | 0.61 | 0 | 0.70 | 0 | 0.66 | 0 | 0.72 | 12.5 | 14.51 | 86.26 | 59.77 | 0.78 | 70.86 | -41.25 | 29.14 | 0 | 4.61 | -2.97 | 14.13 | -6.61 |
| 2019 (6) | 1.20 | -87.5 | -7.91 | 0 | 13.84 | 9.29 | -6.56 | 0 | -6.92 | 0 | -7.16 | 0 | -4.25 | 0 | 0.64 | -5.88 | 7.79 | -49.42 | 59.31 | -3.62 | 120.63 | 63.89 | -20.62 | 0 | 4.75 | 10.75 | 15.13 | 6.47 |
| 2018 (5) | 9.60 | -54.02 | 1.73 | -87.89 | 12.67 | 28.77 | 2.35 | -84.2 | 0.80 | -92.89 | 0.86 | -94.3 | 0.65 | -93.21 | 0.68 | -19.05 | 15.40 | -39.11 | 61.54 | 8.06 | 73.60 | -23.39 | 26.40 | 573.21 | 4.29 | 0 | 14.21 | -1.39 |
| 2017 (4) | 20.88 | 129.7 | 14.28 | 540.36 | 9.84 | -29.81 | 14.87 | 754.6 | 11.25 | 1630.77 | 15.10 | 1741.46 | 9.57 | 1286.96 | 0.84 | 10.53 | 25.29 | 53.46 | 56.95 | -11.53 | 96.08 | -25.21 | 3.92 | 0 | 0.00 | 0 | 14.41 | 1.41 |
| 2016 (3) | 9.09 | -29.04 | 2.23 | -63.8 | 14.01 | -2.51 | 1.74 | -57.35 | 0.65 | -78.11 | 0.82 | -82.52 | 0.69 | -75.0 | 0.76 | -9.52 | 16.48 | -14.08 | 64.37 | -3.65 | 128.47 | -14.9 | -28.47 | 0 | 0.00 | 0 | 14.21 | 12.24 |
| 2015 (2) | 12.81 | 9.02 | 6.16 | -6.24 | 14.37 | 3.75 | 4.08 | -22.43 | 2.97 | -41.3 | 4.69 | -54.15 | 2.76 | -44.02 | 0.84 | -3.45 | 19.18 | -5.24 | 66.81 | -39.57 | 150.96 | 20.74 | -50.96 | 0 | 0.00 | 0 | 12.66 | 17.66 |
| 2014 (1) | 11.75 | 0 | 6.57 | 0 | 13.85 | -22.48 | 5.26 | 0 | 5.06 | 0 | 10.23 | 0 | 4.93 | 0 | 0.87 | 11.54 | 20.24 | -3.44 | 110.55 | -31.41 | 125.02 | -54.04 | -25.02 | 0 | 0.00 | 0 | 10.76 | 19.69 |
