- 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) | 6.72 | -76.08 | -33.99 | -20.12 | -269.5 | -31.07 | -24.04 | -270.62 | -30.16 | -24.61 | -298.63 | -87.29 | -3.04 | -238.81 | -121.9 | -1.63 | -216.43 | -139.71 | 0.07 | -30.0 | 16.67 | 5.38 | -84.44 | -52.35 | 71.79 | -0.54 | 0.21 | 83.53 | -1.16 | 0.58 | 16.47 | 6.31 | -2.82 | 23.66 | 19.49 | -7.83 |
| 23Q3 (19) | 28.09 | 46.68 | 256.02 | 11.87 | 454.33 | 156.71 | 14.09 | 384.07 | 168.87 | 12.39 | 336.9 | 159.65 | 2.19 | 370.37 | 208.42 | 1.40 | 524.24 | 234.62 | 0.10 | 11.11 | 66.67 | 34.58 | 93.18 | 208.2 | 72.18 | -2.79 | 1.46 | 84.51 | 23.94 | -16.83 | 15.49 | -51.31 | 1060.56 | 19.80 | -11.65 | -40.79 |
| 23Q2 (18) | 19.15 | 637.92 | -41.2 | -3.35 | 90.41 | -118.25 | -4.96 | 86.58 | -129.06 | -5.23 | 85.85 | -126.19 | -0.81 | 77.18 | -120.4 | -0.33 | 82.99 | -114.22 | 0.09 | 50.0 | -18.18 | 17.90 | 1387.77 | -45.68 | 74.25 | 5.54 | -7.14 | 68.18 | -27.73 | -36.65 | 31.82 | 462.12 | 517.61 | 22.41 | -35.16 | 11.6 |
| 23Q1 (17) | -3.56 | -134.97 | -110.36 | -34.95 | -127.69 | -266.67 | -36.95 | -100.05 | -266.52 | -36.95 | -181.2 | -304.03 | -3.55 | -159.12 | -188.75 | -1.94 | -185.29 | -184.35 | 0.06 | 0.0 | -50.0 | -1.39 | -112.31 | -103.77 | 70.35 | -1.8 | -12.26 | 94.34 | 13.59 | -0.15 | 5.66 | -66.6 | 2.59 | 34.56 | 34.63 | 84.62 |
| 22Q4 (16) | 10.18 | 29.02 | -68.24 | -15.35 | 26.66 | -209.41 | -18.47 | 9.73 | -236.81 | -13.14 | 36.74 | -242.36 | -1.37 | 32.18 | -176.54 | -0.68 | 34.62 | -162.39 | 0.06 | 0.0 | -45.45 | 11.29 | 0.62 | -64.07 | 71.64 | 0.7 | -15.21 | 83.05 | -18.27 | -20.14 | 16.95 | 1150.85 | 523.73 | 25.67 | -23.24 | 20.23 |
| 22Q3 (15) | 7.89 | -75.78 | -73.83 | -20.93 | -214.0 | -231.14 | -20.46 | -219.86 | -222.66 | -20.77 | -204.01 | -267.23 | -2.02 | -150.88 | -172.4 | -1.04 | -144.83 | -162.65 | 0.06 | -45.45 | -50.0 | 11.22 | -65.95 | -65.1 | 71.14 | -11.03 | -13.12 | 101.61 | -5.58 | 5.52 | -1.61 | 78.83 | -134.84 | 33.44 | 66.53 | 91.74 |
| 22Q2 (14) | 32.57 | -5.21 | 10.56 | 18.36 | -12.45 | 28.21 | 17.07 | -23.07 | 34.41 | 19.97 | 10.27 | 58.74 | 3.97 | -0.75 | 56.92 | 2.32 | 0.87 | 50.65 | 0.11 | -8.33 | 0.0 | 32.95 | -10.58 | 9.91 | 79.96 | -0.27 | 2.2 | 107.62 | 13.9 | -3.91 | -7.62 | -238.1 | 36.51 | 20.08 | 7.26 | 7.09 |
| 22Q1 (13) | 34.36 | 7.21 | -5.58 | 20.97 | 49.47 | 0.53 | 22.19 | 64.37 | 13.56 | 18.11 | 96.21 | 22.28 | 4.00 | 123.46 | 27.8 | 2.30 | 111.01 | 23.66 | 0.12 | 9.09 | 0.0 | 36.85 | 17.28 | 1.54 | 80.18 | -5.1 | 3.48 | 94.48 | -9.15 | -11.56 | 5.52 | 237.93 | 180.69 | 18.72 | -12.32 | -0.74 |
| 21Q4 (12) | 32.05 | 6.3 | -14.05 | 14.03 | -12.09 | -29.6 | 13.50 | -19.06 | -28.12 | 9.23 | -25.68 | -35.32 | 1.79 | -35.84 | -42.63 | 1.09 | -34.34 | -40.11 | 0.11 | -8.33 | -8.33 | 31.42 | -2.27 | -11.64 | 84.49 | 3.19 | 2.57 | 104.00 | 8.0 | -1.24 | -4.00 | -186.4 | 35.43 | 21.35 | 22.42 | 7.18 |
| 21Q3 (11) | 30.15 | 2.34 | -23.05 | 15.96 | 11.45 | -30.76 | 16.68 | 31.34 | -23.28 | 12.42 | -1.27 | -38.48 | 2.79 | 10.28 | -37.86 | 1.66 | 7.79 | -33.06 | 0.12 | 9.09 | 0.0 | 32.15 | 7.24 | -15.33 | 81.88 | 4.65 | -5.18 | 96.30 | -14.02 | -8.73 | 4.63 | 138.58 | 173.5 | 17.44 | -6.99 | -6.74 |
| 21Q2 (10) | 29.46 | -19.04 | -27.33 | 14.32 | -31.35 | -39.22 | 12.70 | -35.01 | -39.0 | 12.58 | -15.06 | -43.18 | 2.53 | -19.17 | -37.84 | 1.54 | -17.2 | -30.94 | 0.11 | -8.33 | 22.22 | 29.98 | -17.39 | -24.88 | 78.24 | 0.98 | -18.69 | 112.00 | 4.83 | -1.36 | -12.00 | -75.5 | 11.38 | 18.75 | -0.58 | -14.42 |
| 21Q1 (9) | 36.39 | -2.41 | 13.51 | 20.86 | 4.67 | 40.85 | 19.54 | 4.05 | 34.94 | 14.81 | 3.78 | 25.19 | 3.13 | 0.32 | 74.86 | 1.86 | 2.2 | 89.8 | 0.12 | 0.0 | 50.0 | 36.29 | 2.05 | 6.86 | 77.48 | -5.94 | -17.58 | 106.84 | 1.45 | 4.9 | -6.84 | -10.38 | -269.23 | 18.86 | -5.32 | -23.89 |
| 20Q4 (8) | 37.29 | -4.82 | 96.16 | 19.93 | -13.54 | 402.02 | 18.78 | -13.62 | 769.44 | 14.27 | -29.32 | 1023.62 | 3.12 | -30.51 | 1318.18 | 1.82 | -26.61 | 857.89 | 0.12 | 0.0 | 33.33 | 35.56 | -6.35 | 86.08 | 82.37 | -4.61 | -15.04 | 105.31 | -0.19 | -44.25 | -6.19 | 1.66 | 93.03 | 19.92 | 6.52 | 16.63 |
| 20Q3 (7) | 39.18 | -3.35 | 34.82 | 23.05 | -2.16 | 134.25 | 21.74 | 4.42 | 142.63 | 20.19 | -8.81 | 214.0 | 4.49 | 10.32 | 287.07 | 2.48 | 11.21 | 275.76 | 0.12 | 33.33 | 33.33 | 37.97 | -4.86 | 39.65 | 86.35 | -10.27 | -11.07 | 105.51 | -7.07 | -4.3 | -6.30 | 53.48 | 38.58 | 18.70 | -14.65 | -17.48 |
| 20Q2 (6) | 40.54 | 26.45 | 44.42 | 23.56 | 59.08 | 86.39 | 20.82 | 43.78 | 67.63 | 22.14 | 87.15 | 139.61 | 4.07 | 127.37 | 116.49 | 2.23 | 127.55 | 110.38 | 0.09 | 12.5 | -18.18 | 39.91 | 17.52 | 37.05 | 96.23 | 2.36 | -2.36 | 113.54 | 11.48 | 11.74 | -13.54 | -631.25 | -739.58 | 21.91 | -11.58 | 13.64 |
| 20Q1 (5) | 32.06 | 68.65 | 24.94 | 14.81 | 273.05 | 112.79 | 14.48 | 570.37 | 115.16 | 11.83 | 831.5 | 268.54 | 1.79 | 713.64 | 250.98 | 0.98 | 415.79 | 164.86 | 0.08 | -11.11 | -11.11 | 33.96 | 77.71 | 23.18 | 94.01 | -3.03 | 17.7 | 101.85 | -46.08 | -1.79 | -1.85 | 97.92 | 50.0 | 24.78 | 45.08 | 4.87 |
| 19Q4 (4) | 19.01 | -34.58 | 0.0 | 3.97 | -59.65 | 0.0 | 2.16 | -75.89 | 0.0 | 1.27 | -80.25 | 0.0 | 0.22 | -81.03 | 0.0 | 0.19 | -71.21 | 0.0 | 0.09 | 0.0 | 0.0 | 19.11 | -29.72 | 0.0 | 96.95 | -0.15 | 0.0 | 188.89 | 71.32 | 0.0 | -88.89 | -766.67 | 0.0 | 17.08 | -24.62 | 0.0 |
| 19Q3 (3) | 29.06 | 3.53 | 0.0 | 9.84 | -22.15 | 0.0 | 8.96 | -27.86 | 0.0 | 6.43 | -30.41 | 0.0 | 1.16 | -38.3 | 0.0 | 0.66 | -37.74 | 0.0 | 0.09 | -18.18 | 0.0 | 27.19 | -6.63 | 0.0 | 97.10 | -1.48 | 0.0 | 110.26 | 8.51 | 0.0 | -10.26 | -535.9 | 0.0 | 22.66 | 17.53 | 0.0 |
| 19Q2 (2) | 28.07 | 9.39 | 0.0 | 12.64 | 81.61 | 0.0 | 12.42 | 84.55 | 0.0 | 9.24 | 187.85 | 0.0 | 1.88 | 268.63 | 0.0 | 1.06 | 186.49 | 0.0 | 0.11 | 22.22 | 0.0 | 29.12 | 5.62 | 0.0 | 98.56 | 23.4 | 0.0 | 101.61 | -2.02 | 0.0 | -1.61 | 56.45 | 0.0 | 19.28 | -18.41 | 0.0 |
| 19Q1 (1) | 25.66 | 0.0 | 0.0 | 6.96 | 0.0 | 0.0 | 6.73 | 0.0 | 0.0 | 3.21 | 0.0 | 0.0 | 0.51 | 0.0 | 0.0 | 0.37 | 0.0 | 0.0 | 0.09 | 0.0 | 0.0 | 27.57 | 0.0 | 0.0 | 79.87 | 0.0 | 0.0 | 103.70 | 0.0 | 0.0 | -3.70 | 0.0 | 0.0 | 23.63 | 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) | 15.15 | -40.49 | -7.92 | 0 | 23.48 | 27.08 | -8.89 | 0 | -9.63 | 0 | -5.24 | 0 | -2.51 | 0 | 0.32 | -11.11 | 16.95 | -37.59 | 71.79 | 0.21 | 88.73 | -17.05 | 11.27 | 0 | 0.14 | -24.62 | 24.04 | 5.95 |
| 2022 (9) | 25.46 | -20.39 | 7.28 | -55.42 | 18.48 | 20.04 | 6.83 | -56.44 | 7.21 | -41.43 | 4.59 | -55.69 | 3.05 | -50.08 | 0.36 | -21.74 | 27.16 | -16.43 | 71.64 | -15.21 | 106.98 | 2.6 | -6.20 | 0 | 0.19 | -6.7 | 22.69 | 19.23 |
| 2021 (8) | 31.98 | -14.99 | 16.33 | -21.19 | 15.39 | -3.73 | 15.68 | -18.8 | 12.31 | -29.01 | 10.36 | -22.57 | 6.11 | -19.18 | 0.46 | 12.2 | 32.50 | -12.02 | 84.49 | 2.57 | 104.27 | -2.73 | -4.27 | 0 | 0.21 | -19.61 | 19.03 | -9.03 |
| 2020 (7) | 37.62 | 47.18 | 20.72 | 142.62 | 15.99 | -6.51 | 19.31 | 148.52 | 17.34 | 230.92 | 13.38 | 257.75 | 7.56 | 218.99 | 0.41 | 2.5 | 36.94 | 42.57 | 82.37 | -15.04 | 107.20 | -2.09 | -7.20 | 0 | 0.26 | 53.16 | 20.92 | 1.75 |
| 2019 (6) | 25.56 | -28.28 | 8.54 | -59.26 | 17.10 | 39.59 | 7.77 | -64.37 | 5.24 | -68.62 | 3.74 | -76.4 | 2.37 | -76.67 | 0.40 | -32.2 | 25.91 | -25.29 | 96.95 | 54.65 | 109.49 | 13.86 | -10.22 | 0 | 0.17 | -15.22 | 20.56 | 6.69 |
| 2018 (5) | 35.64 | 8.49 | 20.96 | 10.03 | 12.25 | -9.95 | 21.81 | 21.84 | 16.70 | 17.36 | 15.85 | 27.93 | 10.16 | 23.9 | 0.59 | 7.27 | 34.68 | 7.43 | 62.69 | 10.7 | 96.16 | -9.59 | 3.84 | 0 | 0.20 | 0 | 19.27 | 2.28 |
| 2017 (4) | 32.85 | 11.58 | 19.05 | 15.88 | 13.61 | -11.18 | 17.90 | 19.25 | 14.23 | 20.59 | 12.39 | 26.3 | 8.20 | 27.33 | 0.55 | 7.84 | 32.28 | 2.48 | 56.63 | -1.68 | 106.36 | -2.63 | -6.36 | 0 | 0.00 | 0 | 18.84 | 6.8 |
| 2016 (3) | 29.44 | 4.66 | 16.44 | 17.18 | 15.32 | -6.5 | 15.01 | 11.52 | 11.80 | 21.9 | 9.81 | 38.76 | 6.44 | 37.9 | 0.51 | 18.6 | 31.50 | 0.51 | 57.60 | -18.63 | 109.23 | 4.99 | -9.62 | 0 | 0.00 | 0 | 17.64 | -6.07 |
| 2015 (2) | 28.13 | -2.46 | 14.03 | -19.69 | 16.38 | 18.33 | 13.46 | -29.12 | 9.68 | -36.77 | 7.07 | -39.57 | 4.67 | -40.66 | 0.43 | -12.24 | 31.34 | -7.63 | 70.79 | 6.68 | 104.04 | 13.02 | -4.04 | 0 | 0.00 | 0 | 18.78 | 7.68 |
| 2014 (1) | 28.84 | 0 | 17.47 | 0 | 13.85 | -28.41 | 18.99 | 0 | 15.31 | 0 | 11.70 | 0 | 7.87 | 0 | 0.49 | 36.11 | 33.93 | 3.16 | 66.36 | 49.22 | 92.06 | 4.45 | 7.94 | -33.06 | 0.00 | 0 | 17.44 | -18.08 |
