- 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) | 29.46 | 20.39 | 18.17 | 3.93 | 113.82 | 126.17 | 0.97 | 105.54 | 104.57 | 0.41 | 102.9 | 102.42 | 0.11 | 106.21 | 104.56 | 0.16 | 116.84 | 113.91 | 0.15 | 114.29 | 114.29 | 5.11 | 157.94 | 138.57 | 72.10 | 3.07 | -21.3 | 500.00 | 215.79 | 650.0 | -400.00 | -585.71 | -1540.0 | 24.53 | -50.45 | -40.01 |
| 23Q3 (19) | 24.47 | 26.85 | 14.4 | -28.44 | -1.07 | 2.37 | -17.52 | -27.05 | -291.89 | -14.16 | -27.8 | -295.04 | -1.77 | -24.65 | -305.81 | -0.95 | -26.67 | -269.64 | 0.07 | -12.5 | 16.67 | -8.82 | -54.47 | -147.5 | 69.95 | 6.84 | -21.89 | 158.33 | -20.83 | 147.5 | -58.33 | 41.67 | -112.96 | 49.51 | 6.54 | 7.35 |
| 23Q2 (18) | 19.29 | 17.26 | -22.69 | -28.14 | -32.61 | -87.73 | -13.79 | 43.87 | -247.8 | -11.08 | 43.61 | -254.75 | -1.42 | 52.35 | -230.28 | -0.75 | 51.92 | -213.64 | 0.08 | 0.0 | 0.0 | -5.71 | 64.93 | -133.49 | 65.47 | 0.49 | -29.16 | 200.00 | 133.33 | 223.08 | -100.00 | -800.0 | -138.1 | 46.47 | 20.89 | 19.43 |
| 23Q1 (17) | 16.45 | -34.02 | -41.81 | -21.22 | -41.28 | -40.72 | -24.57 | -15.84 | -1110.34 | -19.65 | -16.13 | -1090.91 | -2.98 | -23.65 | -1092.0 | -1.56 | -35.65 | -3020.0 | 0.08 | 14.29 | 0.0 | -16.28 | -22.87 | -383.13 | 65.15 | -28.88 | -30.51 | 85.71 | 28.57 | -86.81 | 14.29 | -48.57 | 102.6 | 38.44 | -5.99 | -5.62 |
| 22Q4 (16) | 24.93 | 16.55 | -5.68 | -15.02 | 48.44 | -324.29 | -21.21 | -332.31 | -762.81 | -16.92 | -333.06 | -652.94 | -2.41 | -380.23 | -470.77 | -1.15 | -305.36 | -387.5 | 0.07 | 16.67 | -30.0 | -13.25 | -171.35 | -244.49 | 91.61 | 2.3 | -11.74 | 66.67 | 120.0 | 166.67 | 27.78 | -93.83 | -86.11 | 40.89 | -11.34 | 42.57 |
| 22Q3 (15) | 21.39 | -14.27 | -6.55 | -29.13 | -94.33 | -130.64 | 9.13 | -2.14 | 12.16 | 7.26 | 1.4 | 11.35 | 0.86 | -21.1 | -25.22 | 0.56 | -15.15 | -12.5 | 0.06 | -25.0 | -33.33 | 18.57 | 8.91 | 14.91 | 89.55 | -3.11 | -14.54 | -333.33 | -105.13 | -105.13 | 450.00 | 71.43 | 71.43 | 46.12 | 18.53 | 36.65 |
| 22Q2 (14) | 24.95 | -11.74 | 6.99 | -14.99 | 0.6 | -96.72 | 9.33 | 559.61 | 211.74 | 7.16 | 533.94 | 246.12 | 1.09 | 536.0 | 202.83 | 0.66 | 1420.0 | 250.0 | 0.08 | 0.0 | -27.27 | 17.05 | 196.52 | 2179.27 | 92.42 | -1.42 | -12.48 | -162.50 | -125.0 | -280.56 | 262.50 | 147.73 | 2525.0 | 38.91 | -4.47 | 34.36 |
| 22Q1 (13) | 28.27 | 6.96 | 75.05 | -15.08 | -325.99 | 32.65 | -2.03 | -163.44 | 89.0 | -1.65 | -153.92 | 88.82 | -0.25 | -138.46 | 89.96 | -0.05 | -112.5 | 95.73 | 0.08 | -20.0 | 0.0 | 5.75 | -37.3 | 155.77 | 93.75 | -9.67 | -7.33 | 650.00 | 750.0 | 431.82 | -550.00 | -375.0 | -2375.0 | 40.73 | 42.02 | 12.79 |
| 21Q4 (12) | 26.43 | 15.47 | 42.86 | -3.54 | 71.97 | 69.69 | 3.20 | -60.69 | -56.1 | 3.06 | -53.07 | -57.62 | 0.65 | -43.48 | -65.05 | 0.40 | -37.5 | -60.0 | 0.10 | 11.11 | -23.08 | 9.17 | -43.25 | -29.08 | 103.79 | -0.95 | 5.37 | -100.00 | 38.46 | 35.29 | 200.00 | -23.81 | -21.43 | 28.68 | -15.02 | -4.24 |
| 21Q3 (11) | 22.89 | -1.84 | -4.9 | -12.63 | -65.75 | -19.26 | 8.14 | 197.49 | 142.11 | 6.52 | 233.06 | 146.94 | 1.15 | 208.49 | 153.99 | 0.64 | 245.45 | 166.67 | 0.09 | -18.18 | 12.5 | 16.16 | 2070.73 | 257.97 | 104.79 | -0.77 | -3.56 | -162.50 | -280.56 | -406.94 | 262.50 | 2525.0 | 457.81 | 33.75 | 16.54 | 50.54 |
| 21Q2 (10) | 23.32 | 44.4 | -7.2 | -7.62 | 65.97 | -39.56 | -8.35 | 54.74 | 22.54 | -4.90 | 66.8 | 43.29 | -1.06 | 57.43 | 30.26 | -0.44 | 62.39 | 37.14 | 0.11 | 37.5 | 22.22 | -0.82 | 92.05 | 71.53 | 105.60 | 4.39 | 5.56 | 90.00 | -26.36 | 65.0 | 10.00 | 145.0 | -81.67 | 28.96 | -19.8 | 0 |
| 21Q1 (9) | 16.15 | -12.7 | -15.53 | -22.39 | -91.7 | 31.38 | -18.45 | -353.09 | 31.79 | -14.76 | -304.43 | 31.95 | -2.49 | -233.87 | 7.09 | -1.17 | -217.0 | 12.03 | 0.08 | -38.46 | 14.29 | -10.31 | -179.74 | 38.92 | 101.16 | 2.7 | 15.02 | 122.22 | 179.08 | 2.67 | -22.22 | -108.73 | -16.67 | 36.11 | 20.57 | 0 |
| 20Q4 (8) | 18.50 | -23.14 | -34.05 | -11.68 | -10.29 | -485.48 | 7.29 | 137.71 | 271.53 | 7.22 | 151.98 | 274.4 | 1.86 | 187.32 | 267.57 | 1.00 | 204.17 | 300.0 | 0.13 | 62.5 | -7.14 | 12.93 | 226.39 | 2091.53 | 98.50 | -9.35 | 11.04 | -154.55 | -391.92 | -116.36 | 254.55 | 440.91 | 48.48 | 29.95 | 33.59 | 0 |
| 20Q3 (7) | 24.07 | -4.22 | -30.69 | -10.59 | -93.96 | -185.68 | -19.33 | -79.31 | -251.25 | -13.89 | -60.76 | -249.52 | -2.13 | -40.13 | -176.07 | -0.96 | -37.14 | -161.15 | 0.08 | -11.11 | -50.0 | -10.23 | -255.21 | -161.7 | 108.66 | 8.62 | 20.59 | 52.94 | -2.94 | -44.85 | 47.06 | -13.73 | 1076.47 | 22.42 | 0 | 11.49 |
| 20Q2 (6) | 25.13 | 31.43 | -4.56 | -5.46 | 83.27 | -168.25 | -10.78 | 60.15 | -200.94 | -8.64 | 60.17 | -224.68 | -1.52 | 43.28 | -163.33 | -0.70 | 47.37 | -151.09 | 0.09 | 28.57 | -52.63 | -2.88 | 82.94 | -120.44 | 100.04 | 13.75 | 15.65 | 54.55 | -54.18 | -30.3 | 54.55 | 386.36 | 109.09 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 19.12 | -31.84 | -32.91 | -32.63 | -1176.9 | -974.8 | -27.05 | -536.47 | -701.11 | -21.69 | -423.91 | -792.97 | -2.68 | -141.44 | -415.29 | -1.33 | -166.0 | -346.3 | 0.07 | -50.0 | -53.33 | -16.88 | -2961.02 | -280.34 | 87.95 | -0.86 | 3.59 | 119.05 | 266.67 | 58.73 | -19.05 | -111.11 | -252.38 | 0.00 | 0 | -100.0 |
| 19Q4 (4) | 28.05 | -19.23 | 0.0 | 3.03 | -75.49 | 0.0 | -4.25 | -133.26 | 0.0 | -4.14 | -144.56 | 0.0 | -1.11 | -139.64 | 0.0 | -0.50 | -131.85 | 0.0 | 0.14 | -12.5 | 0.0 | 0.59 | -96.44 | 0.0 | 88.71 | -1.55 | 0.0 | -71.43 | -174.4 | 0.0 | 171.43 | 4185.71 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 34.73 | 31.9 | 0.0 | 12.36 | 54.5 | 0.0 | 12.78 | 19.66 | 0.0 | 9.29 | 34.05 | 0.0 | 2.80 | 16.67 | 0.0 | 1.57 | 14.6 | 0.0 | 0.16 | -15.79 | 0.0 | 16.58 | 17.67 | 0.0 | 90.11 | 4.17 | 0.0 | 96.00 | 22.67 | 0.0 | 4.00 | -84.67 | 0.0 | 20.11 | 15.51 | 0.0 |
| 19Q2 (2) | 26.33 | -7.61 | 0.0 | 8.00 | 114.48 | 0.0 | 10.68 | 137.33 | 0.0 | 6.93 | 121.41 | 0.0 | 2.40 | 182.35 | 0.0 | 1.37 | 153.7 | 0.0 | 0.19 | 26.67 | 0.0 | 14.09 | 50.53 | 0.0 | 86.50 | 1.88 | 0.0 | 78.26 | 4.35 | 0.0 | 26.09 | 108.7 | 0.0 | 17.41 | -19.14 | 0.0 |
| 19Q1 (1) | 28.50 | 0.0 | 0.0 | 3.73 | 0.0 | 0.0 | 4.50 | 0.0 | 0.0 | 3.13 | 0.0 | 0.0 | 0.85 | 0.0 | 0.0 | 0.54 | 0.0 | 0.0 | 0.15 | 0.0 | 0.0 | 9.36 | 0.0 | 0.0 | 84.90 | 0.0 | 0.0 | 75.00 | 0.0 | 0.0 | 12.50 | 0.0 | 0.0 | 21.53 | 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) | 23.45 | -6.46 | -14.38 | 0 | 4.44 | -19.01 | -11.45 | 0 | -9.34 | 0 | -6.08 | 0 | -2.95 | 0 | 0.36 | 24.14 | -4.72 | 0 | 72.10 | -21.3 | 126.83 | -89.25 | -26.83 | 0 | 0.22 | 138.96 | 36.80 | -11.18 |
| 2022 (9) | 25.07 | 11.47 | -18.03 | 0 | 5.49 | 0.15 | -1.45 | 0 | -1.25 | 0 | -0.71 | 0 | 0.03 | 0 | 0.29 | -23.68 | 6.71 | 83.84 | 91.61 | -11.74 | 1180.00 | 293.33 | -1080.00 | 0 | 0.09 | -47.22 | 41.43 | 31.32 |
| 2021 (8) | 22.49 | 4.85 | -10.90 | 0 | 5.48 | -12.33 | -3.68 | 0 | -2.31 | 0 | -1.76 | 0 | -0.55 | 0 | 0.38 | 8.57 | 3.65 | 0 | 103.79 | 5.37 | 300.00 | 100.0 | -200.00 | 0 | 0.17 | 99.31 | 31.55 | -3.04 |
| 2020 (7) | 21.45 | -29.14 | -13.76 | 0 | 6.25 | 82.75 | -9.18 | 0 | -6.53 | 0 | -4.48 | 0 | -1.97 | 0 | 0.35 | -44.44 | -1.44 | 0 | 98.50 | 11.04 | 150.00 | 38.68 | -50.00 | 0 | 0.09 | 3.2 | 32.54 | 55.25 |
| 2019 (6) | 30.27 | 9.63 | 7.24 | 5469.23 | 3.42 | -7.21 | 6.64 | 32.53 | 4.30 | 8.04 | 5.01 | 25.25 | 3.03 | 16.09 | 0.63 | 8.62 | 10.94 | 11.86 | 88.71 | 8.22 | 108.16 | 3253.06 | -8.16 | 0 | 0.08 | -52.39 | 20.96 | -12.85 |
| 2018 (5) | 27.61 | -9.59 | 0.13 | -97.26 | 3.69 | -4.49 | 5.01 | 139.71 | 3.98 | 192.65 | 4.00 | 207.69 | 2.61 | 133.04 | 0.58 | -3.33 | 9.78 | 38.72 | 81.97 | 26.83 | 3.23 | -98.62 | 96.77 | 0 | 0.18 | 0 | 24.05 | -3.34 |
| 2017 (4) | 30.54 | 12.16 | 4.75 | 0 | 3.86 | -22.68 | 2.09 | 435.9 | 1.36 | 946.15 | 1.30 | 1081.82 | 1.12 | 250.0 | 0.60 | -1.64 | 7.05 | 12.98 | 64.63 | 17.13 | 233.33 | 0 | -133.33 | 0 | 0.00 | 0 | 24.88 | -11.74 |
| 2016 (3) | 27.23 | -1.63 | -3.19 | 0 | 4.99 | -4.7 | 0.39 | -90.71 | 0.13 | -95.26 | 0.11 | -95.8 | 0.32 | -84.91 | 0.61 | -12.86 | 6.24 | -37.47 | 55.18 | 53.15 | -900.00 | 0 | 1000.00 | 1081.82 | 0.00 | 0 | 28.19 | 22.62 |
| 2015 (2) | 27.68 | 19.83 | 0.57 | 0 | 5.24 | -32.07 | 4.20 | 0 | 2.74 | 0 | 2.62 | 0 | 2.12 | 0 | 0.70 | 52.17 | 9.98 | 0 | 36.03 | -2.73 | 15.38 | -87.18 | 84.62 | 0 | 0.00 | 0 | 22.99 | -26.83 |
| 2014 (1) | 23.10 | 0 | -12.60 | 0 | 7.71 | 7.24 | -10.61 | 0 | -9.86 | 0 | -6.48 | 0 | -4.25 | 0 | 0.46 | 12.2 | -1.87 | 0 | 37.04 | -27.04 | 120.00 | 156.47 | -17.78 | 0 | 0.00 | 0 | 31.42 | 8.31 |
