- 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) | 56.19 | -5.04 | 11.05 | 2.19 | 1268.75 | 16.49 | 1.97 | 1.55 | 1615.38 | 2.52 | 29.23 | 427.27 | 1.61 | 57.84 | 382.46 | 0.86 | 34.37 | 1820.0 | 0.29 | 20.83 | -9.38 | 6.31 | -18.89 | 30.37 | 118.22 | -0.55 | -8.66 | 100.00 | 0 | 0 | 0.00 | -100.0 | 0 | 33.92 | -3.36 | 13.48 |
| 23Q3 (19) | 59.17 | 6.82 | 17.47 | 0.16 | -91.44 | 110.6 | 1.94 | 31.08 | 410.53 | 1.95 | 36.36 | 596.43 | 1.02 | 22.89 | 500.0 | 0.64 | 18.52 | 146.15 | 0.24 | -7.69 | -11.11 | 7.78 | 10.04 | 13.41 | 118.87 | -2.26 | -8.85 | 0.00 | -100.0 | 0 | 100.00 | 0 | 0 | 35.10 | 0.23 | 17.27 |
| 23Q2 (18) | 55.39 | -13.3 | 5.44 | 1.87 | -25.5 | 34.53 | 1.48 | -5.13 | 128.24 | 1.43 | 23.28 | 125.22 | 0.83 | 27.69 | 127.3 | 0.54 | 20.0 | 144.63 | 0.26 | 8.33 | 8.33 | 7.07 | -5.1 | 221.36 | 121.62 | -5.67 | -3.04 | 200.00 | 0.0 | 1100.0 | 0.00 | 100.0 | -100.0 | 35.02 | -15.04 | -6.86 |
| 23Q1 (17) | 63.89 | 26.26 | 63.86 | 2.51 | 33.51 | 122.74 | 1.56 | 1300.0 | 123.64 | 1.16 | 250.65 | 119.24 | 0.65 | 214.04 | 130.09 | 0.45 | 1000.0 | 156.96 | 0.24 | -25.0 | 60.0 | 7.45 | 53.93 | 53.93 | 128.93 | -0.39 | 4.97 | 200.00 | 0 | 14.29 | -100.00 | 0 | -33.33 | 41.22 | 37.91 | -17.03 |
| 22Q4 (16) | 50.60 | 0.46 | 203.54 | 1.88 | 224.5 | 103.4 | -0.13 | -134.21 | -100.2 | -0.77 | -375.0 | -101.3 | -0.57 | -435.29 | -101.25 | -0.05 | -119.23 | -100.39 | 0.32 | 18.52 | 52.38 | 4.84 | -29.45 | -93.24 | 129.43 | -0.75 | -9.22 | 0.00 | 0 | 100.0 | 0.00 | 0 | -100.0 | 29.89 | -0.13 | -3.64 |
| 22Q3 (15) | 50.37 | -4.11 | 95.61 | -1.51 | -208.63 | 97.57 | 0.38 | 107.25 | 100.54 | 0.28 | 104.94 | 100.4 | 0.17 | 105.59 | 100.52 | 0.26 | 121.49 | 103.91 | 0.27 | 12.5 | 170.0 | 6.86 | 211.82 | 113.5 | 130.41 | 3.97 | -71.28 | 0.00 | 100.0 | -100.0 | 0.00 | -100.0 | -100.0 | 29.93 | -20.4 | -46.36 |
| 22Q2 (14) | 52.53 | 34.73 | 227.7 | 1.39 | 112.59 | 102.18 | -5.24 | 20.61 | 92.47 | -5.67 | 5.97 | 91.88 | -3.04 | -40.74 | 89.05 | -1.21 | -53.16 | 83.58 | 0.24 | 60.0 | 118.18 | 2.20 | -54.55 | 103.58 | 125.43 | 2.13 | -59.04 | -20.00 | -111.43 | -121.78 | 120.00 | 260.0 | 1370.0 | 37.60 | -24.32 | -8.72 |
| 22Q1 (13) | 38.99 | 133.89 | -11.85 | -11.04 | 80.01 | -36.8 | -6.60 | -110.1 | 51.68 | -6.03 | -110.19 | 58.61 | -2.16 | -104.73 | 71.8 | -0.79 | -106.19 | 62.91 | 0.15 | -28.57 | -6.25 | 4.84 | -93.24 | 176.7 | 122.82 | -13.86 | -47.07 | 175.00 | 310.0 | 191.67 | -75.00 | -140.91 | -287.5 | 49.68 | 60.15 | 86.35 |
| 21Q4 (12) | 16.67 | -35.26 | -40.01 | -55.24 | 11.08 | -293.73 | 65.33 | 193.38 | 302.7 | 59.18 | 185.37 | 281.59 | 45.65 | 240.85 | 318.11 | 12.77 | 292.03 | 285.07 | 0.21 | 110.0 | -4.55 | 71.56 | 240.81 | 352.06 | 142.58 | -68.6 | -34.31 | -83.33 | -194.3 | -289.39 | 183.33 | 1476.67 | 227.38 | 31.02 | -44.41 | 63.01 |
| 21Q3 (11) | 25.75 | 60.64 | 3.33 | -62.12 | 2.57 | -111.87 | -69.96 | -0.56 | -24.55 | -69.32 | 0.7 | -23.28 | -32.41 | -16.75 | -61.16 | -6.65 | 9.77 | 13.19 | 0.10 | -9.09 | -28.57 | -50.82 | 17.27 | -2.63 | 454.14 | 48.3 | 159.17 | 88.37 | -3.77 | 68.19 | 11.63 | 42.44 | -75.5 | 55.80 | 35.47 | 98.58 |
| 21Q2 (10) | 16.03 | -63.76 | -45.27 | -63.76 | -690.09 | 3.19 | -69.57 | -409.3 | 12.63 | -69.81 | -379.14 | 17.62 | -27.76 | -262.4 | -59.91 | -7.37 | -246.01 | 3.03 | 0.11 | -31.25 | 22.22 | -61.43 | -873.53 | 6.57 | 306.24 | 31.97 | 120.11 | 91.84 | 53.06 | 10.97 | 8.16 | -79.59 | -52.65 | 41.19 | 54.5 | 0 |
| 21Q1 (9) | 44.23 | 59.16 | 80.6 | -8.07 | 42.48 | 84.73 | -13.66 | 57.62 | 79.6 | -14.57 | 55.29 | 78.37 | -7.66 | 63.4 | 37.52 | -2.13 | 69.13 | 63.34 | 0.16 | -27.27 | 77.78 | -6.31 | 77.77 | 88.73 | 232.06 | 6.92 | 113.88 | 60.00 | 36.36 | -25.0 | 40.00 | -28.57 | 81.82 | 26.66 | 40.09 | 0 |
| 20Q4 (8) | 27.79 | 11.52 | 7.67 | -14.03 | 52.15 | 44.08 | -32.23 | 42.62 | 12.84 | -32.59 | 42.04 | 17.03 | -20.93 | -4.08 | -72.26 | -6.90 | 9.92 | -18.56 | 0.22 | 57.14 | 46.67 | -28.39 | 42.67 | 2.67 | 217.05 | 23.87 | 116.64 | 44.00 | -16.26 | -35.22 | 56.00 | 18.0 | 74.59 | 19.03 | -32.28 | -26.27 |
| 20Q3 (7) | 24.92 | -14.92 | 50.67 | -29.32 | 55.48 | -126.93 | -56.17 | 29.46 | -177.79 | -56.23 | 33.64 | -175.1 | -20.11 | -15.84 | -180.87 | -7.66 | -0.79 | -122.03 | 0.14 | 55.56 | -22.22 | -49.52 | 24.68 | -233.69 | 175.23 | 25.95 | 70.87 | 52.54 | -36.51 | -19.0 | 47.46 | 175.25 | 35.07 | 28.10 | 0 | 41.92 |
| 20Q2 (6) | 29.29 | 19.6 | 401.65 | -65.86 | -24.59 | -8.45 | -79.63 | -18.9 | -43.12 | -84.74 | -25.78 | -54.58 | -17.36 | -41.6 | -50.83 | -7.60 | -30.81 | -25.62 | 0.09 | 0.0 | -18.18 | -65.75 | -17.41 | -37.18 | 139.13 | 28.23 | 54.88 | 82.76 | 3.45 | -24.04 | 17.24 | -21.63 | 292.53 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 24.49 | -5.11 | -12.25 | -52.86 | -110.68 | -288.96 | -66.97 | -81.1 | -296.27 | -67.37 | -71.51 | -328.84 | -12.26 | -0.91 | -173.66 | -5.81 | 0.17 | -148.29 | 0.09 | -40.0 | -43.75 | -56.00 | -91.98 | -369.4 | 108.50 | 8.29 | 36.6 | 80.00 | 17.78 | 0.0 | 22.00 | -31.41 | 10.0 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 25.81 | 56.05 | 0.0 | -25.09 | -94.2 | 0.0 | -36.98 | -82.89 | 0.0 | -39.28 | -92.17 | 0.0 | -12.15 | -69.69 | 0.0 | -5.82 | -68.7 | 0.0 | 0.15 | -16.67 | 0.0 | -29.17 | -96.56 | 0.0 | 100.19 | -2.3 | 0.0 | 67.92 | 4.72 | 0.0 | 32.08 | -8.71 | 0.0 | 25.81 | 30.35 | 0.0 |
| 19Q3 (3) | 16.54 | 270.34 | 0.0 | -12.92 | 78.73 | 0.0 | -20.22 | 63.66 | 0.0 | -20.44 | 62.71 | 0.0 | -7.16 | 37.79 | 0.0 | -3.45 | 42.98 | 0.0 | 0.18 | 63.64 | 0.0 | -14.84 | 69.04 | 0.0 | 102.55 | 14.16 | 0.0 | 64.86 | -40.47 | 0.0 | 35.14 | 492.34 | 0.0 | 19.80 | -30.5 | 0.0 |
| 19Q2 (2) | -9.71 | -134.79 | 0.0 | -60.73 | -346.87 | 0.0 | -55.64 | -229.23 | 0.0 | -54.82 | -248.95 | 0.0 | -11.51 | -156.92 | 0.0 | -6.05 | -158.55 | 0.0 | 0.11 | -31.25 | 0.0 | -47.93 | -301.76 | 0.0 | 89.83 | 13.09 | 0.0 | 108.96 | 36.19 | 0.0 | -8.96 | -144.78 | 0.0 | 28.49 | 42.45 | 0.0 |
| 19Q1 (1) | 27.91 | 0.0 | 0.0 | -13.59 | 0.0 | 0.0 | -16.90 | 0.0 | 0.0 | -15.71 | 0.0 | 0.0 | -4.48 | 0.0 | 0.0 | -2.34 | 0.0 | 0.0 | 0.16 | 0.0 | 0.0 | -11.93 | 0.0 | 0.0 | 79.43 | 0.0 | 0.0 | 80.00 | 0.0 | 0.0 | 20.00 | 0.0 | 0.0 | 20.00 | 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) | 58.52 | 19.19 | 1.72 | 0 | 4.58 | -21.1 | 1.74 | 0 | 1.79 | 0 | 4.12 | 0 | 2.48 | 0 | 1.03 | 9.57 | 7.12 | 58.57 | 118.22 | -8.66 | 100.00 | 80.0 | 0.00 | 0 | 0.00 | 0 | 36.22 | 3.52 |
| 2022 (9) | 49.10 | 83.21 | -1.26 | 0 | 5.80 | -18.5 | -2.28 | 0 | -2.52 | 0 | -5.59 | 0 | -1.73 | 0 | 0.94 | 49.21 | 4.49 | 0 | 129.43 | -9.22 | 55.56 | -87.21 | 44.44 | 0 | 0.00 | 0 | 34.99 | -2.78 |
| 2021 (8) | 26.80 | 0.34 | -43.29 | 0 | 7.12 | 26.35 | -10.02 | 0 | -12.16 | 0 | -21.75 | 0 | -6.59 | 0 | 0.63 | 21.15 | -0.85 | 0 | 142.58 | -34.31 | 434.29 | 573.14 | -334.29 | 0 | 0.00 | 0 | 35.99 | 14.87 |
| 2020 (7) | 26.71 | 58.8 | -34.34 | 0 | 5.64 | 17.25 | -53.22 | 0 | -54.36 | 0 | -67.59 | 0 | -27.44 | 0 | 0.52 | -17.46 | -45.59 | 0 | 217.05 | 116.64 | 64.52 | -23.16 | 35.48 | 121.18 | 0.00 | 0 | 31.33 | 36.63 |
| 2019 (6) | 16.82 | -24.47 | -25.18 | 0 | 4.81 | 126.86 | -30.02 | 0 | -30.12 | 0 | -35.27 | 0 | -18.12 | 0 | 0.63 | -4.55 | -23.56 | 0 | 100.19 | 30.8 | 83.96 | -11.16 | 16.04 | 191.98 | 0.34 | 27.12 | 22.93 | 30.14 |
| 2018 (5) | 22.27 | 14.62 | -11.40 | 0 | 2.12 | 98.68 | -12.09 | 0 | -9.58 | 0 | -11.96 | 0 | -5.45 | 0 | 0.66 | 1.54 | -7.68 | 0 | 76.60 | -27.17 | 94.51 | -18.81 | 5.49 | 0 | 0.27 | 0 | 17.62 | 10.96 |
| 2017 (4) | 19.43 | 26.58 | -9.44 | 0 | 1.07 | 15.05 | -8.11 | 0 | -6.31 | 0 | -10.22 | 0 | -3.13 | 0 | 0.65 | -4.41 | -4.53 | 0 | 105.17 | -53.24 | 116.39 | 20.83 | -16.39 | 0 | 0.00 | 0 | 15.88 | -3.64 |
| 2016 (3) | 15.35 | -43.42 | -13.86 | 0 | 0.93 | 97.48 | -14.37 | 0 | -11.95 | 0 | -22.34 | 0 | -7.32 | 0 | 0.68 | -48.09 | -11.92 | 0 | 224.90 | 62.55 | 96.33 | -13.3 | 3.67 | 0 | 0.00 | 0 | 16.48 | 41.34 |
| 2015 (2) | 27.13 | 23.15 | 5.37 | 0 | 0.47 | -33.33 | 4.80 | 0 | 3.65 | 0 | 11.50 | 0 | 5.71 | 0 | 1.31 | 47.19 | 6.30 | 0 | 138.36 | -3.77 | 111.11 | -6.25 | -12.50 | 0 | 0.00 | 0 | 11.66 | -27.98 |
| 2014 (1) | 22.03 | 0 | -6.47 | 0 | 0.70 | -31.9 | -5.44 | 0 | -5.20 | 0 | -10.34 | 0 | -3.77 | 0 | 0.89 | -3.26 | -3.42 | 0 | 143.78 | 38.89 | 118.52 | 93.94 | -18.52 | 0 | 0.00 | 0 | 16.19 | 18.09 |
