- 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) | 14.46 | 73.8 | -32.08 | -9.99 | 18.52 | -196.71 | -10.50 | 20.81 | -212.3 | -9.39 | 17.12 | -235.5 | -1.58 | 31.6 | -152.49 | -1.22 | 26.95 | -159.51 | 0.13 | -13.33 | -55.17 | -0.28 | 94.15 | -102.12 | 26.39 | -11.86 | -37.7 | 94.59 | 1.6 | -14.0 | 5.41 | -21.62 | 154.05 | 31.30 | 1.76 | 117.21 |
| 23Q3 (19) | 8.32 | -40.95 | -60.06 | -12.26 | -134.87 | -212.68 | -13.26 | -162.06 | -196.86 | -11.33 | -87.27 | -202.63 | -2.31 | -73.68 | -141.1 | -1.67 | -87.64 | -146.52 | 0.15 | 0.0 | -53.12 | -4.79 | -268.66 | -127.82 | 29.94 | -30.92 | -46.87 | 93.10 | -10.48 | 17.45 | 6.90 | 272.41 | -66.73 | 30.76 | 22.5 | 125.51 |
| 23Q2 (18) | 14.09 | -16.58 | -38.61 | -5.22 | -238.83 | -147.24 | -5.06 | -259.62 | -142.95 | -6.05 | -487.82 | -164.98 | -1.33 | -371.43 | -132.2 | -0.89 | -340.54 | -134.36 | 0.15 | -31.82 | -44.44 | 2.84 | -66.59 | -82.36 | 43.34 | -11.59 | -27.71 | 104.00 | -10.86 | 10.56 | -4.00 | 76.0 | -167.43 | 25.11 | 50.27 | 56.06 |
| 23Q1 (17) | 16.89 | -20.67 | -21.33 | 3.76 | -63.6 | -54.92 | 3.17 | -66.1 | -63.69 | 1.56 | -77.49 | -75.74 | 0.49 | -83.72 | -82.44 | 0.37 | -81.95 | -78.86 | 0.22 | -24.14 | -18.52 | 8.50 | -35.65 | -37.27 | 49.02 | 15.72 | -23.29 | 116.67 | 6.06 | 20.99 | -16.67 | -66.67 | -450.0 | 16.71 | 15.96 | 6.3 |
| 22Q4 (16) | 21.29 | 2.21 | 4.11 | 10.33 | -5.06 | 60.65 | 9.35 | -31.7 | 42.31 | 6.93 | -37.23 | 36.15 | 3.01 | -46.44 | 34.37 | 2.05 | -42.9 | 43.36 | 0.29 | -9.38 | 7.41 | 13.21 | -23.29 | 19.98 | 42.36 | -24.83 | -29.76 | 110.00 | 38.77 | 13.55 | -10.00 | -148.24 | -740.0 | 14.41 | 5.65 | -12.93 |
| 22Q3 (15) | 20.83 | -9.24 | 5.52 | 10.88 | -1.54 | 43.16 | 13.69 | 16.21 | 90.93 | 11.04 | 18.58 | 118.61 | 5.62 | 36.08 | 128.46 | 3.59 | 38.61 | 125.79 | 0.32 | 18.52 | 3.23 | 17.22 | 6.96 | 54.16 | 56.35 | -6.01 | -7.15 | 79.27 | -15.73 | -24.7 | 20.73 | 249.48 | 415.12 | 13.64 | -15.23 | -2.71 |
| 22Q2 (14) | 22.95 | 6.89 | 17.87 | 11.05 | 32.49 | 142.86 | 11.78 | 34.94 | 255.89 | 9.31 | 44.79 | 335.05 | 4.13 | 48.03 | 348.91 | 2.59 | 48.0 | 286.57 | 0.27 | 0.0 | -10.0 | 16.10 | 18.82 | 92.12 | 59.95 | -6.18 | 9.4 | 94.07 | -2.45 | -32.06 | 5.93 | 24.58 | 115.42 | 16.09 | 2.35 | -15.09 |
| 22Q1 (13) | 21.47 | 4.99 | -34.48 | 8.34 | 29.7 | 144.57 | 8.73 | 32.88 | 145.92 | 6.43 | 26.33 | 142.64 | 2.79 | 24.55 | 534.09 | 1.75 | 22.38 | 386.11 | 0.27 | 0.0 | 107.69 | 13.55 | 23.07 | 26.99 | 63.90 | 5.95 | 142.23 | 96.43 | -0.46 | -3.57 | 4.76 | 204.76 | 0 | 15.72 | -5.02 | -46.95 |
| 21Q4 (12) | 20.45 | 3.6 | -47.31 | 6.43 | -15.39 | -54.56 | 6.57 | -8.37 | -47.65 | 5.09 | 0.79 | -41.43 | 2.24 | -8.94 | 23.08 | 1.43 | -10.06 | -0.69 | 0.27 | -12.9 | 68.75 | 11.01 | -1.43 | -39.17 | 60.31 | -0.63 | 114.02 | 96.88 | -7.97 | -13.89 | 1.56 | 123.75 | 112.5 | 16.55 | 18.05 | -31.56 |
| 21Q3 (11) | 19.74 | 1.39 | -48.73 | 7.60 | 67.03 | -52.32 | 7.17 | 116.62 | -51.65 | 5.05 | 135.98 | -56.35 | 2.46 | 167.39 | -1.2 | 1.59 | 137.31 | -20.5 | 0.31 | 3.33 | 82.35 | 11.17 | 33.29 | -43.78 | 60.69 | 10.75 | 122.31 | 105.26 | -23.98 | -1.05 | -6.58 | 82.89 | 22.7 | 14.02 | -26.02 | -42.45 |
| 21Q2 (10) | 19.47 | -40.59 | -47.02 | 4.55 | 33.43 | 1.34 | 3.31 | -6.76 | 14.93 | 2.14 | -19.25 | -70.73 | 0.92 | 109.09 | -29.23 | 0.67 | 86.11 | -34.95 | 0.30 | 130.77 | 114.29 | 8.38 | -21.46 | -22.26 | 54.80 | 107.73 | 136.0 | 138.46 | 38.46 | -7.69 | -38.46 | 0 | 23.08 | 18.95 | -36.04 | 0 |
| 21Q1 (9) | 32.77 | -15.56 | -11.0 | 3.41 | -75.9 | 9.29 | 3.55 | -71.71 | 41.43 | 2.65 | -69.51 | 299.25 | 0.44 | -75.82 | 241.94 | 0.36 | -75.0 | 289.47 | 0.13 | -18.75 | -18.75 | 10.67 | -41.05 | -13.32 | 26.38 | -6.39 | -28.91 | 100.00 | -11.11 | -16.67 | 0.00 | 100.0 | 100.0 | 29.63 | 22.54 | 0 |
| 20Q4 (8) | 38.81 | 0.81 | -6.77 | 14.15 | -11.23 | -18.44 | 12.55 | -15.37 | 1.95 | 8.69 | -24.89 | -1.59 | 1.82 | -26.91 | -47.85 | 1.44 | -28.0 | -37.12 | 0.16 | -5.88 | -38.46 | 18.10 | -8.91 | -2.69 | 28.18 | 3.22 | -38.04 | 112.50 | 5.75 | -21.05 | -12.50 | -46.88 | 70.59 | 24.18 | -0.74 | -10.97 |
| 20Q3 (7) | 38.50 | 4.76 | -4.7 | 15.94 | 255.01 | -14.25 | 14.83 | 414.93 | -16.36 | 11.57 | 58.28 | -8.1 | 2.49 | 91.54 | -64.68 | 2.00 | 94.17 | -51.46 | 0.17 | 21.43 | -46.88 | 19.87 | 84.32 | -14.09 | 27.30 | 17.57 | -57.12 | 106.38 | -29.08 | 0.71 | -8.51 | 82.98 | -101.42 | 24.36 | 0 | 3.0 |
| 20Q2 (6) | 36.75 | -0.19 | -4.12 | 4.49 | 43.91 | -73.6 | 2.88 | 14.74 | -83.26 | 7.31 | 649.62 | -39.18 | 1.30 | 519.35 | -81.02 | 1.03 | 642.11 | -72.68 | 0.14 | -12.5 | -54.84 | 10.78 | -12.43 | -54.61 | 23.22 | -37.43 | -73.44 | 150.00 | 25.0 | 52.59 | -50.00 | -150.0 | -3050.0 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 36.82 | -11.55 | 0.44 | 3.12 | -82.02 | -74.28 | 2.51 | -79.61 | -78.98 | -1.33 | -115.06 | -113.37 | -0.31 | -108.88 | -106.18 | -0.19 | -108.3 | -106.6 | 0.16 | -38.46 | -42.86 | 12.31 | -33.82 | -36.22 | 37.11 | -18.4 | -55.5 | 120.00 | -15.79 | 16.57 | -20.00 | 52.94 | -580.0 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 41.63 | 3.04 | 0.0 | 17.35 | -6.67 | 0.0 | 12.31 | -30.57 | 0.0 | 8.83 | -29.86 | 0.0 | 3.49 | -50.5 | 0.0 | 2.29 | -44.42 | 0.0 | 0.26 | -18.75 | 0.0 | 18.60 | -19.58 | 0.0 | 45.48 | -28.56 | 0.0 | 142.50 | 34.9 | 0.0 | -42.50 | -905.83 | 0.0 | 27.16 | 14.84 | 0.0 |
| 19Q3 (3) | 40.40 | 5.4 | 0.0 | 18.59 | 9.29 | 0.0 | 17.73 | 3.08 | 0.0 | 12.59 | 4.74 | 0.0 | 7.05 | 2.92 | 0.0 | 4.12 | 9.28 | 0.0 | 0.32 | 3.23 | 0.0 | 23.13 | -2.61 | 0.0 | 63.66 | -27.2 | 0.0 | 105.63 | 7.46 | 0.0 | -4.23 | -349.3 | 0.0 | 23.65 | 4.97 | 0.0 |
| 19Q2 (2) | 38.33 | 4.56 | 0.0 | 17.01 | 40.23 | 0.0 | 17.20 | 44.05 | 0.0 | 12.02 | 20.8 | 0.0 | 6.85 | 36.45 | 0.0 | 3.77 | 30.9 | 0.0 | 0.31 | 10.71 | 0.0 | 23.75 | 23.06 | 0.0 | 87.44 | 4.84 | 0.0 | 98.31 | -4.5 | 0.0 | 1.69 | 157.63 | 0.0 | 22.53 | -10.63 | 0.0 |
| 19Q1 (1) | 36.66 | 0.0 | 0.0 | 12.13 | 0.0 | 0.0 | 11.94 | 0.0 | 0.0 | 9.95 | 0.0 | 0.0 | 5.02 | 0.0 | 0.0 | 2.88 | 0.0 | 0.0 | 0.28 | 0.0 | 0.0 | 19.30 | 0.0 | 0.0 | 83.40 | 0.0 | 0.0 | 102.94 | 0.0 | 0.0 | -2.94 | 0.0 | 0.0 | 25.21 | 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) | 13.95 | -35.39 | -4.25 | 0 | 5.10 | 76.89 | -4.73 | 0 | -4.96 | 0 | -4.41 | 0 | -3.17 | 0 | 0.66 | -44.54 | 2.80 | -81.43 | 26.39 | -37.7 | 90.62 | -2.24 | 10.42 | 42.77 | 16.69 | 23.37 | 24.30 | 63.2 |
| 2022 (9) | 21.59 | 2.96 | 10.20 | 67.21 | 2.88 | -17.32 | 11.01 | 93.5 | 8.54 | 107.79 | 15.30 | 127.34 | 10.27 | 119.44 | 1.19 | 7.21 | 15.08 | 45.42 | 42.36 | -29.76 | 92.70 | -13.25 | 7.30 | 0 | 13.52 | -7.37 | 14.89 | -14.33 |
| 2021 (8) | 20.97 | -44.71 | 6.10 | -42.99 | 3.49 | -45.57 | 5.69 | -39.72 | 4.11 | -44.53 | 6.73 | 4.18 | 4.68 | -3.9 | 1.11 | 70.77 | 10.37 | -35.67 | 60.31 | 114.02 | 106.86 | -5.77 | -7.43 | 0 | 14.60 | 7010.88 | 17.38 | -34.96 |
| 2020 (7) | 37.93 | -3.71 | 10.70 | -35.31 | 6.41 | 9.91 | 9.44 | -37.36 | 7.41 | -32.51 | 6.46 | -69.83 | 4.87 | -64.91 | 0.65 | -47.58 | 16.12 | -24.67 | 28.18 | -38.04 | 113.40 | 3.28 | -13.40 | 0 | 0.21 | -49.65 | 26.72 | 8.84 |
| 2019 (6) | 39.39 | 38.99 | 16.54 | 210.9 | 5.83 | 35.12 | 15.07 | 159.83 | 10.98 | 151.26 | 21.41 | 116.92 | 13.88 | 137.26 | 1.24 | -3.13 | 21.40 | 100.75 | 45.48 | -39.7 | 109.80 | 20.26 | -9.80 | 0 | 0.41 | -34.68 | 24.55 | -9.44 |
| 2018 (5) | 28.34 | 21.68 | 5.32 | 0 | 4.31 | -34.79 | 5.80 | 0 | 4.37 | 0 | 9.87 | 0 | 5.85 | 0 | 1.28 | 31.96 | 10.66 | 0 | 75.42 | -1.35 | 91.30 | 104.65 | 8.70 | -84.51 | 0.62 | 0 | 27.11 | -12.72 |
| 2017 (4) | 23.29 | 24.01 | -6.14 | 0 | 6.62 | 4.68 | -13.88 | 0 | -14.23 | 0 | -25.28 | 0 | -13.64 | 0 | 0.97 | -3.96 | -6.30 | 0 | 76.45 | -13.03 | 44.62 | -48.49 | 56.15 | 342.99 | 0.00 | 0 | 31.06 | 15.98 |
| 2016 (3) | 18.78 | -33.92 | -10.82 | 0 | 6.32 | -10.02 | -12.43 | 0 | -12.60 | 0 | -22.23 | 0 | -12.57 | 0 | 1.01 | 5.21 | -5.27 | 0 | 87.90 | 36.13 | 86.62 | 0 | 12.68 | -90.36 | 0.00 | 0 | 26.78 | -3.32 |
| 2015 (2) | 28.42 | 34.31 | -0.91 | 0 | 7.03 | -9.65 | 3.06 | 0 | 2.46 | 0 | 4.04 | 0 | 2.53 | 0 | 0.96 | 31.51 | 10.93 | 0 | 64.57 | -16.48 | -28.57 | 0 | 131.43 | 0 | 0.00 | 0 | 27.70 | -20.33 |
| 2014 (1) | 21.16 | 0 | -12.39 | 0 | 7.78 | -8.4 | -10.15 | 0 | -10.35 | 0 | -11.92 | 0 | -7.38 | 0 | 0.73 | 4.29 | -1.56 | 0 | 77.31 | 81.44 | 122.35 | 6.67 | -22.35 | 0 | 0.00 | 0 | 34.77 | 5.84 |
