- 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) | 31.64 | 7.84 | 0.03 | 10.56 | 149.65 | -17.88 | 1.15 | -89.89 | -88.35 | -0.04 | -100.45 | -100.63 | -0.01 | -100.62 | -100.55 | 0.13 | -87.74 | -88.79 | 0.13 | 30.0 | -18.75 | 4.53 | -70.85 | -64.13 | 69.11 | 1.84 | -9.14 | 980.00 | 2595.0 | 660.79 | -880.00 | -1534.07 | -2784.44 | 16.61 | -26.31 | -0.18 |
| 23Q3 (19) | 29.34 | -9.42 | -5.39 | 4.23 | -57.14 | -36.1 | 11.37 | -28.49 | -33.63 | 8.93 | -28.04 | -30.02 | 1.61 | -36.86 | -45.61 | 1.06 | -33.33 | -41.76 | 0.10 | -16.67 | -23.08 | 15.54 | -20.84 | -24.6 | 67.86 | -11.05 | -5.96 | 36.36 | -40.8 | -5.45 | 61.36 | 65.21 | -0.28 | 22.54 | 14.53 | 21.64 |
| 23Q2 (18) | 32.39 | -13.67 | 12.39 | 9.87 | -12.34 | 60.75 | 15.90 | 46.41 | 184.44 | 12.41 | 33.15 | 173.35 | 2.55 | 50.89 | 150.0 | 1.59 | 45.87 | 130.43 | 0.12 | 20.0 | -7.69 | 19.63 | 30.0 | 118.6 | 76.29 | 2.69 | 3.94 | 61.43 | -40.0 | -43.3 | 37.14 | 880.0 | 545.71 | 19.68 | -12.46 | 1.23 |
| 23Q1 (17) | 37.52 | 18.62 | 36.14 | 11.26 | -12.44 | 1562.34 | 10.86 | 10.03 | 110.47 | 9.32 | 46.54 | 128.99 | 1.69 | -7.14 | 116.67 | 1.09 | -6.03 | 109.62 | 0.10 | -37.5 | 0.0 | 15.10 | 19.56 | 54.71 | 74.29 | -2.33 | 1.32 | 102.38 | -20.52 | 680.16 | -4.76 | 84.39 | -104.26 | 22.48 | 35.1 | -7.64 |
| 22Q4 (16) | 31.63 | 2.0 | 3.0 | 12.86 | 94.26 | 114.69 | 9.87 | -42.38 | 61.27 | 6.36 | -50.16 | 33.89 | 1.82 | -38.51 | 33.82 | 1.16 | -36.26 | 48.72 | 0.16 | 23.08 | 14.29 | 12.63 | -38.72 | 32.67 | 76.06 | 5.4 | -28.27 | 128.81 | 234.92 | 33.77 | -30.51 | -149.58 | -923.73 | 16.64 | -10.2 | -17.09 |
| 22Q3 (15) | 31.01 | 7.6 | 35.83 | 6.62 | 7.82 | 2106.67 | 17.13 | 206.44 | 15472.73 | 12.76 | 181.06 | 14277.78 | 2.96 | 190.2 | 14900.0 | 1.82 | 163.77 | 1922.22 | 0.13 | 0.0 | 8.33 | 20.61 | 129.51 | 401.46 | 72.16 | -1.69 | -32.74 | 38.46 | -64.5 | 0 | 61.54 | 838.46 | 0 | 18.53 | -4.68 | -7.12 |
| 22Q2 (14) | 28.82 | 4.57 | 1.66 | 6.14 | 897.4 | 62.86 | 5.59 | 8.33 | 179.5 | 4.54 | 11.55 | 82.33 | 1.02 | 30.77 | 54.55 | 0.69 | 32.69 | 60.47 | 0.13 | 30.0 | 0.0 | 8.98 | -7.99 | 28.84 | 73.40 | 0.11 | -28.17 | 108.33 | 713.89 | -42.22 | -8.33 | -107.46 | 90.48 | 19.44 | -20.13 | -3.71 |
| 22Q1 (13) | 27.56 | -10.26 | 4.71 | -0.77 | -112.85 | 78.9 | 5.16 | -15.69 | 254.95 | 4.07 | -14.32 | 234.77 | 0.78 | -42.65 | 227.87 | 0.52 | -33.33 | 373.68 | 0.10 | -28.57 | 0.0 | 9.76 | 2.52 | 194.86 | 73.32 | -30.86 | -29.42 | -17.65 | -118.33 | -116.04 | 111.76 | 2917.65 | 1217.65 | 24.34 | 21.28 | -9.18 |
| 21Q4 (12) | 30.71 | 34.52 | 12.33 | 5.99 | 1896.67 | 258.68 | 6.12 | 5463.64 | 466.67 | 4.75 | 5377.78 | 2694.12 | 1.36 | 6900.0 | 2620.0 | 0.78 | 766.67 | 457.14 | 0.14 | 16.67 | 7.69 | 9.52 | 131.63 | 70.0 | 106.04 | -1.16 | 0.99 | 96.30 | 0 | -44.97 | 3.70 | 0 | 107.41 | 20.07 | 0.6 | -4.97 |
| 21Q3 (11) | 22.83 | -19.47 | -21.28 | 0.30 | -92.04 | -91.48 | 0.11 | -94.5 | -98.42 | -0.09 | -103.61 | -101.64 | -0.02 | -103.03 | -101.32 | 0.09 | -79.07 | -88.89 | 0.12 | -7.69 | 0.0 | 4.11 | -41.03 | -66.85 | 107.28 | 4.99 | -11.13 | 0.00 | -100.0 | -100.0 | 0.00 | 100.0 | -100.0 | 19.95 | -1.19 | -10.46 |
| 21Q2 (10) | 28.35 | 7.71 | 3.35 | 3.77 | 203.29 | -43.14 | 2.00 | 160.06 | -48.19 | 2.49 | 182.45 | -32.88 | 0.66 | 208.2 | -46.34 | 0.43 | 326.32 | -39.44 | 0.13 | 30.0 | -13.33 | 6.97 | 110.57 | -15.21 | 102.18 | -1.64 | -26.84 | 187.50 | 70.45 | 9.91 | -87.50 | -775.0 | -23.96 | 20.19 | -24.66 | 0 |
| 21Q1 (9) | 26.32 | -3.73 | -9.37 | -3.65 | -318.56 | 21.67 | -3.33 | -408.33 | 67.35 | -3.02 | -1876.47 | 70.79 | -0.61 | -1320.0 | 72.27 | -0.19 | -235.71 | 80.81 | 0.10 | -23.08 | -9.09 | 3.31 | -40.89 | 185.09 | 103.88 | -1.07 | 6.28 | 110.00 | -37.14 | 145.38 | -10.00 | 80.0 | -118.12 | 26.80 | 26.89 | 0 |
| 20Q4 (8) | 27.34 | -5.72 | -5.98 | 1.67 | -52.56 | -51.17 | 1.08 | -84.51 | 163.16 | 0.17 | -96.9 | 116.04 | 0.05 | -96.71 | 114.29 | 0.14 | -82.72 | 380.0 | 0.13 | 8.33 | -23.53 | 5.60 | -54.84 | 122.22 | 105.00 | -13.02 | 14.22 | 175.00 | 250.0 | 181.67 | -50.00 | -200.0 | -115.91 | 21.12 | -5.21 | -4.99 |
| 20Q3 (7) | 29.00 | 5.72 | -1.79 | 3.52 | -46.91 | -5.63 | 6.97 | 80.57 | 444.53 | 5.48 | 47.71 | 186.91 | 1.52 | 23.58 | 157.63 | 0.81 | 14.08 | 88.37 | 0.12 | -20.0 | -25.0 | 12.40 | 50.85 | 114.9 | 120.72 | -13.56 | 34.36 | 50.00 | -70.69 | -84.38 | 50.00 | 170.83 | 125.0 | 22.28 | 0 | 3.63 |
| 20Q2 (6) | 27.43 | -5.54 | -13.09 | 6.63 | 242.27 | 34.48 | 3.86 | 137.84 | -37.84 | 3.71 | 135.88 | -37.23 | 1.23 | 155.91 | -30.51 | 0.71 | 171.72 | -31.73 | 0.15 | 36.36 | -6.25 | 8.22 | 311.31 | -22.96 | 139.66 | 42.89 | 44.4 | 170.59 | 280.54 | 113.24 | -70.59 | -227.94 | -452.94 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 29.04 | -0.14 | -16.09 | -4.66 | -236.26 | -200.43 | -10.20 | -496.49 | -313.84 | -10.34 | -875.47 | -345.02 | -2.20 | -528.57 | -303.7 | -0.99 | -1880.0 | -241.43 | 0.11 | -35.29 | -21.43 | -3.89 | -254.37 | -138.78 | 97.74 | 6.32 | 9.67 | 44.83 | 120.92 | -55.17 | 55.17 | -82.45 | 0 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 29.08 | -1.52 | 0.0 | 3.42 | -8.31 | 0.0 | -1.71 | -233.59 | 0.0 | -1.06 | -155.5 | 0.0 | -0.35 | -159.32 | 0.0 | -0.05 | -111.63 | 0.0 | 0.17 | 6.25 | 0.0 | 2.52 | -56.33 | 0.0 | 91.93 | 2.31 | 0.0 | -214.29 | -166.96 | 0.0 | 314.29 | 257.14 | 0.0 | 22.23 | 3.4 | 0.0 |
| 19Q3 (3) | 29.53 | -6.43 | 0.0 | 3.73 | -24.34 | 0.0 | 1.28 | -79.39 | 0.0 | 1.91 | -67.68 | 0.0 | 0.59 | -66.67 | 0.0 | 0.43 | -58.65 | 0.0 | 0.16 | 0.0 | 0.0 | 5.77 | -45.92 | 0.0 | 89.85 | -7.1 | 0.0 | 320.00 | 300.0 | 0.0 | -200.00 | -1100.0 | 0.0 | 21.50 | -4.06 | 0.0 |
| 19Q2 (2) | 31.56 | -8.81 | 0.0 | 4.93 | 6.25 | 0.0 | 6.21 | 30.19 | 0.0 | 5.91 | 40.05 | 0.0 | 1.77 | 63.89 | 0.0 | 1.04 | 48.57 | 0.0 | 0.16 | 14.29 | 0.0 | 10.67 | 6.38 | 0.0 | 96.72 | 8.53 | 0.0 | 80.00 | -20.0 | 0.0 | 20.00 | 0 | 0.0 | 22.41 | -12.67 | 0.0 |
| 19Q1 (1) | 34.61 | 0.0 | 0.0 | 4.64 | 0.0 | 0.0 | 4.77 | 0.0 | 0.0 | 4.22 | 0.0 | 0.0 | 1.08 | 0.0 | 0.0 | 0.70 | 0.0 | 0.0 | 0.14 | 0.0 | 0.0 | 10.03 | 0.0 | 0.0 | 89.12 | 0.0 | 0.0 | 100.00 | 0.0 | 0.0 | 0.00 | 0.0 | 0.0 | 25.66 | 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) | 32.66 | 8.61 | 9.08 | 25.94 | 2.09 | 7.78 | 9.60 | -2.54 | 7.44 | 4.2 | 5.87 | -16.86 | 3.92 | -5.77 | 0.46 | -11.54 | 13.46 | 0.98 | 69.11 | -9.14 | 95.00 | 29.35 | 5.62 | -78.82 | 0.94 | -6.79 | 20.13 | 4.95 |
| 2022 (9) | 30.07 | 10.15 | 7.21 | 243.33 | 1.94 | -30.18 | 9.85 | 486.31 | 7.14 | 402.82 | 7.06 | 397.18 | 4.16 | 268.14 | 0.52 | 8.33 | 13.33 | 111.59 | 76.06 | -28.27 | 73.45 | -42.62 | 26.55 | 0 | 1.00 | -15.69 | 19.18 | -10.46 |
| 2021 (8) | 27.30 | -2.85 | 2.10 | -12.13 | 2.78 | -8.64 | 1.68 | 34.4 | 1.42 | 153.57 | 1.42 | 136.67 | 1.13 | 29.89 | 0.48 | -11.11 | 6.30 | -0.94 | 106.04 | 0.99 | 128.00 | -32.44 | -24.00 | 0 | 1.19 | -25.93 | 21.42 | -2.9 |
| 2020 (7) | 28.10 | -9.35 | 2.39 | -42.27 | 3.05 | 10.5 | 1.25 | -48.98 | 0.56 | -78.46 | 0.60 | -80.83 | 0.87 | -60.27 | 0.54 | -15.62 | 6.36 | -8.49 | 105.00 | 14.22 | 189.47 | 11.96 | -89.47 | 0 | 1.61 | -26.43 | 22.06 | -3.29 |
| 2019 (6) | 31.00 | -2.55 | 4.14 | 0 | 2.76 | 107.64 | 2.45 | 53.12 | 2.60 | 57.58 | 3.13 | 77.84 | 2.19 | 58.7 | 0.64 | 14.29 | 6.95 | 48.5 | 91.93 | 7.94 | 169.23 | 0 | -69.23 | 0 | 2.19 | -6.32 | 22.81 | -7.91 |
| 2018 (5) | 31.81 | 3.25 | -0.38 | 0 | 1.33 | -7.54 | 1.60 | -80.77 | 1.65 | -82.05 | 1.76 | -83.96 | 1.38 | -76.85 | 0.56 | -6.67 | 4.68 | -58.55 | 85.17 | -11.47 | -21.74 | 0 | 121.74 | -33.64 | 2.33 | 0 | 24.77 | -9.17 |
| 2017 (4) | 30.81 | -26.17 | -6.92 | 0 | 1.44 | -3.54 | 8.32 | 188.89 | 9.19 | 371.28 | 10.97 | 338.8 | 5.96 | 231.11 | 0.60 | -10.45 | 11.29 | 98.07 | 96.20 | -8.88 | -83.46 | 0 | 183.46 | 0 | 0.00 | 0 | 27.27 | -2.54 |
| 2016 (3) | 41.73 | 6.37 | 5.11 | 523.17 | 1.49 | -6.99 | 2.88 | -14.79 | 1.95 | -28.83 | 2.50 | -30.94 | 1.80 | -27.71 | 0.67 | -11.84 | 5.70 | -3.72 | 105.58 | 37.46 | 175.56 | 616.85 | -75.56 | 0 | 0.00 | 0 | 27.98 | -1.96 |
| 2015 (2) | 39.23 | 2.06 | 0.82 | -85.06 | 1.60 | 29.65 | 3.38 | -54.26 | 2.74 | -55.23 | 3.62 | -65.49 | 2.49 | -61.63 | 0.76 | -24.75 | 5.92 | -37.02 | 76.81 | 10.93 | 24.49 | -66.94 | 75.51 | 191.25 | 0.00 | 0 | 28.54 | 13.75 |
| 2014 (1) | 38.44 | 0 | 5.49 | 0 | 1.23 | -6.83 | 7.39 | 0 | 6.12 | 0 | 10.49 | 0 | 6.49 | 0 | 1.01 | -8.18 | 9.40 | 5.74 | 69.24 | -3.23 | 74.07 | -13.26 | 25.93 | 64.81 | 0.00 | 0 | 25.09 | 3.12 |
