- 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) | 11.43 | -38.88 | -21.01 | 0.96 | -88.79 | -75.38 | -0.80 | -107.87 | -128.27 | -0.98 | -111.44 | -123.96 | -0.46 | -108.53 | -116.43 | -0.20 | -106.85 | -112.82 | 0.27 | -18.18 | -25.0 | 3.49 | -75.16 | -50.78 | 63.20 | -23.5 | -30.97 | -119.23 | -241.61 | -187.1 | 219.23 | 1287.26 | 678.99 | 20.42 | 15.3 | 6.8 |
| 23Q3 (19) | 18.70 | 15.08 | 28.79 | 8.56 | 50.97 | 95.43 | 10.17 | 1.4 | 4.85 | 8.57 | 4.77 | 3.13 | 5.39 | 9.11 | 14.19 | 2.92 | 11.03 | 20.16 | 0.33 | 6.45 | 13.79 | 14.05 | 0.21 | -5.13 | 82.61 | -16.39 | -12.36 | 84.20 | 48.79 | 85.77 | 15.80 | -63.6 | -71.29 | 17.71 | -13.95 | -9.96 |
| 23Q2 (18) | 16.25 | 9.28 | 11.38 | 5.67 | 52.01 | 13.4 | 10.03 | 238.85 | 16.09 | 8.18 | 295.17 | 10.09 | 4.94 | 345.05 | 2.92 | 2.63 | 298.48 | 7.79 | 0.31 | 10.71 | -3.13 | 14.02 | 92.05 | 9.11 | 98.80 | 12.23 | -4.87 | 56.59 | -55.35 | -2.42 | 43.41 | 269.71 | 3.35 | 20.58 | -5.73 | 0.24 |
| 23Q1 (17) | 14.87 | 2.76 | 55.87 | 3.73 | -4.36 | 4562.5 | 2.96 | 4.59 | -26.55 | 2.07 | -49.39 | -44.2 | 1.11 | -60.36 | -51.1 | 0.66 | -57.69 | -44.07 | 0.28 | -22.22 | -6.67 | 7.30 | 2.96 | -16.76 | 88.03 | -3.86 | -13.45 | 126.74 | -7.41 | 7187.79 | -25.58 | 32.44 | -126.27 | 21.83 | 14.17 | -3.41 |
| 22Q4 (16) | 14.47 | -0.34 | 47.35 | 3.90 | -10.96 | 361.74 | 2.83 | -70.82 | 387.93 | 4.09 | -50.78 | 258.77 | 2.80 | -40.68 | 263.64 | 1.56 | -35.8 | 262.79 | 0.36 | 24.14 | 16.13 | 7.09 | -52.13 | 45.29 | 91.56 | -2.86 | -12.54 | 136.89 | 202.03 | 154.12 | -37.86 | -168.8 | -110.91 | 19.12 | -2.8 | -17.27 |
| 22Q3 (15) | 14.52 | -0.48 | 5.37 | 4.38 | -12.4 | 7.09 | 9.70 | 12.27 | 54.95 | 8.31 | 11.84 | 25.91 | 4.72 | -1.67 | 1.94 | 2.43 | -0.41 | 11.98 | 0.29 | -9.38 | -9.38 | 14.81 | 15.25 | 41.05 | 94.26 | -9.24 | -26.71 | 45.32 | -21.85 | -30.8 | 55.04 | 31.01 | 59.51 | 19.67 | -4.19 | 0.67 |
| 22Q2 (14) | 14.59 | 52.94 | 10.78 | 5.00 | 6150.0 | 75.44 | 8.64 | 114.39 | 46.19 | 7.43 | 100.27 | 25.51 | 4.80 | 111.45 | 34.08 | 2.44 | 106.78 | 37.08 | 0.32 | 6.67 | 10.34 | 12.85 | 46.52 | 19.87 | 103.86 | 2.11 | -10.11 | 57.99 | 3234.57 | 20.52 | 42.01 | -56.87 | -19.03 | 20.53 | -9.16 | -9.12 |
| 22Q1 (13) | 9.54 | -2.85 | -19.7 | 0.08 | 105.37 | -93.5 | 4.03 | 594.83 | 13.2 | 3.71 | 225.44 | 32.5 | 2.27 | 194.81 | 36.75 | 1.18 | 174.42 | 29.67 | 0.30 | -3.23 | 7.14 | 8.77 | 79.71 | 1.15 | 101.71 | -2.85 | -5.48 | 1.74 | 100.69 | -94.98 | 97.39 | -71.94 | 48.95 | 22.60 | -2.21 | -0.31 |
| 21Q4 (12) | 9.82 | -28.74 | -6.57 | -1.49 | -136.43 | 6.29 | 0.58 | -90.73 | 127.88 | 1.14 | -82.73 | 180.28 | 0.77 | -83.37 | 182.8 | 0.43 | -80.18 | 352.94 | 0.31 | -3.13 | 0.0 | 4.88 | -53.52 | 47.43 | 104.69 | -18.6 | -4.69 | -252.94 | -486.19 | -426.16 | 347.06 | 905.88 | 1445.99 | 23.11 | 18.27 | 4.43 |
| 21Q3 (11) | 13.78 | 4.63 | 16.48 | 4.09 | 43.51 | 438.16 | 6.26 | 5.92 | 485.05 | 6.60 | 11.49 | 10900.0 | 4.63 | 29.33 | 15333.33 | 2.17 | 21.91 | 2612.5 | 0.32 | 10.34 | 10.34 | 10.50 | -2.05 | 66.4 | 128.61 | 11.31 | 17.62 | 65.50 | 36.11 | -3.94 | 34.50 | -33.49 | 26.51 | 19.54 | -13.5 | -20.79 |
| 21Q2 (10) | 13.17 | 10.86 | -6.6 | 2.85 | 131.71 | 431.4 | 5.91 | 66.01 | 23.13 | 5.92 | 111.43 | 47.26 | 3.58 | 115.66 | 85.49 | 1.78 | 95.6 | 64.81 | 0.29 | 3.57 | 16.0 | 10.72 | 23.64 | 0.09 | 115.54 | 7.37 | 20.09 | 48.12 | 39.01 | 371.54 | 51.88 | -20.65 | -55.93 | 22.59 | -0.35 | 0 |
| 21Q1 (9) | 11.88 | 13.04 | -24.38 | 1.23 | 177.36 | 175.0 | 3.56 | 271.15 | 247.11 | 2.80 | 297.18 | 181.87 | 1.66 | 278.49 | 223.88 | 0.91 | 635.29 | 249.18 | 0.28 | -9.68 | 33.33 | 8.67 | 161.93 | 69.01 | 107.61 | -2.03 | 20.56 | 34.62 | -55.36 | -48.08 | 65.38 | 191.26 | 96.15 | 22.67 | 2.44 | 0 |
| 20Q4 (8) | 10.51 | -11.16 | -32.93 | -1.59 | -309.21 | -1035.71 | -2.08 | -294.39 | -362.22 | -1.42 | -2466.67 | -10.94 | -0.93 | -3200.0 | -36.76 | -0.17 | -312.5 | 34.62 | 0.31 | 6.9 | 14.81 | 3.31 | -47.54 | -33.53 | 109.84 | 0.46 | 17.88 | 77.55 | 13.74 | 132.65 | 22.45 | -17.69 | -66.33 | 22.13 | -10.3 | -11.52 |
| 20Q3 (7) | 11.83 | -16.1 | -34.24 | 0.76 | 188.37 | -66.52 | 1.07 | -77.71 | -83.61 | 0.06 | -98.51 | -98.55 | 0.03 | -98.45 | -98.47 | 0.08 | -92.59 | -92.59 | 0.29 | 16.0 | 20.83 | 6.31 | -41.08 | -50.82 | 109.34 | 13.65 | 6.78 | 68.18 | 484.74 | 95.8 | 27.27 | -76.83 | -58.16 | 24.67 | 0 | 0.65 |
| 20Q2 (6) | 14.10 | -10.25 | -16.72 | -0.86 | 47.56 | -133.33 | 4.80 | 298.35 | 15.94 | 4.02 | 217.54 | 33.55 | 1.93 | 244.03 | 35.92 | 1.08 | 277.05 | 33.33 | 0.25 | 19.05 | 8.7 | 10.71 | 108.77 | -0.09 | 96.21 | 7.79 | 1.41 | -17.72 | -126.58 | -128.35 | 117.72 | 253.16 | 213.92 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 15.71 | 0.26 | 12.54 | -1.64 | -1071.43 | -86.36 | -2.42 | -437.78 | -1444.44 | -3.42 | -167.19 | -1654.55 | -1.34 | -97.06 | -1318.18 | -0.61 | -134.62 | -458.82 | 0.21 | -22.22 | -16.0 | 5.13 | 3.01 | -22.62 | 89.26 | -4.21 | -16.71 | 66.67 | 100.0 | 112.5 | 33.33 | -50.0 | -94.74 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 15.67 | -12.9 | 0.0 | -0.14 | -106.17 | 0.0 | -0.45 | -106.89 | 0.0 | -1.28 | -130.99 | 0.0 | -0.68 | -134.69 | 0.0 | -0.26 | -124.07 | 0.0 | 0.27 | 12.5 | 0.0 | 4.98 | -61.18 | 0.0 | 93.18 | -9.0 | 0.0 | 33.33 | -4.27 | 0.0 | 66.67 | 2.28 | 0.0 | 25.01 | 2.04 | 0.0 |
| 19Q3 (3) | 17.99 | 6.26 | 0.0 | 2.27 | -12.02 | 0.0 | 6.53 | 57.73 | 0.0 | 4.13 | 37.21 | 0.0 | 1.96 | 38.03 | 0.0 | 1.08 | 33.33 | 0.0 | 0.24 | 4.35 | 0.0 | 12.83 | 19.68 | 0.0 | 102.40 | 7.94 | 0.0 | 34.82 | -44.29 | 0.0 | 65.18 | 73.81 | 0.0 | 24.51 | 0.82 | 0.0 |
| 19Q2 (2) | 16.93 | 21.28 | 0.0 | 2.58 | 393.18 | 0.0 | 4.14 | 2200.0 | 0.0 | 3.01 | 1268.18 | 0.0 | 1.42 | 1190.91 | 0.0 | 0.81 | 376.47 | 0.0 | 0.23 | -8.0 | 0.0 | 10.72 | 61.69 | 0.0 | 94.87 | -11.48 | 0.0 | 62.50 | 111.72 | 0.0 | 37.50 | -94.08 | 0.0 | 24.31 | 16.43 | 0.0 |
| 19Q1 (1) | 13.96 | 0.0 | 0.0 | -0.88 | 0.0 | 0.0 | 0.18 | 0.0 | 0.0 | 0.22 | 0.0 | 0.0 | 0.11 | 0.0 | 0.0 | 0.17 | 0.0 | 0.0 | 0.25 | 0.0 | 0.0 | 6.63 | 0.0 | 0.0 | 107.17 | 0.0 | 0.0 | -533.33 | 0.0 | 0.0 | 633.33 | 0.0 | 0.0 | 20.88 | 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) | 15.47 | 15.53 | 4.92 | 44.28 | 3.70 | -11.51 | 5.88 | -4.23 | 4.72 | -18.76 | 9.95 | -32.08 | 5.99 | -22.31 | 1.20 | -6.25 | 9.99 | -6.55 | 63.20 | -30.97 | 83.74 | 50.53 | 16.26 | -63.46 | 0.26 | -16.09 | 19.99 | -1.96 |
| 2022 (9) | 13.39 | 10.66 | 3.41 | 113.12 | 4.18 | 0.34 | 6.14 | 54.66 | 5.81 | 43.1 | 14.65 | 46.94 | 7.71 | 49.42 | 1.28 | 8.47 | 10.69 | 25.18 | 91.56 | -12.54 | 55.63 | 38.72 | 44.50 | -25.39 | 0.31 | -17.39 | 20.39 | -7.02 |
| 2021 (8) | 12.10 | -4.2 | 1.60 | 0 | 4.16 | -20.55 | 3.97 | 1426.92 | 4.06 | 0 | 9.97 | 0 | 5.16 | 1463.64 | 1.18 | 15.69 | 8.54 | 39.54 | 104.69 | -4.69 | 40.10 | 0 | 59.65 | -85.47 | 0.38 | 123.57 | 21.93 | -11.29 |
| 2020 (7) | 12.63 | -21.6 | -0.79 | 0 | 5.24 | -7.47 | 0.26 | -89.64 | -0.17 | 0 | -0.35 | 0 | 0.33 | -82.9 | 1.02 | -2.86 | 6.12 | -29.49 | 109.84 | 17.88 | -310.53 | 0 | 410.53 | 550.3 | 0.17 | 1045.79 | 24.72 | 4.35 |
| 2019 (6) | 16.11 | 23.64 | 0.92 | 0 | 5.66 | 11.1 | 2.51 | -76.12 | 1.44 | -82.35 | 2.90 | -79.99 | 1.93 | -73.88 | 1.05 | 23.53 | 8.68 | -46.65 | 93.18 | 2.52 | 36.31 | 0 | 63.13 | -59.84 | 0.01 | 0.81 | 23.69 | -5.99 |
| 2018 (5) | 13.03 | 32.02 | -6.02 | 0 | 5.10 | -7.98 | 10.51 | 930.39 | 8.16 | 1017.81 | 14.49 | 794.44 | 7.39 | 505.74 | 0.85 | -4.49 | 16.27 | 122.27 | 90.89 | -28.2 | -57.19 | 0 | 157.19 | -75.15 | 0.01 | 18.64 | 25.20 | 33.19 |
| 2017 (4) | 9.87 | -29.45 | -5.46 | 0 | 5.54 | 18.96 | 1.02 | -68.52 | 0.73 | -68.53 | 1.62 | -77.69 | 1.22 | -56.89 | 0.89 | -12.75 | 7.32 | -13.17 | 126.59 | -25.49 | -532.50 | 0 | 632.50 | 610.77 | 0.01 | 0 | 18.92 | 0.32 |
| 2016 (3) | 13.99 | 45.12 | 0.35 | 0 | 4.66 | 18.24 | 3.24 | 0 | 2.32 | 0 | 7.26 | 0 | 2.83 | 0 | 1.02 | -1.92 | 8.43 | 0 | 169.90 | -30.8 | 11.01 | -87.17 | 88.99 | 528.15 | 0.00 | 0 | 18.86 | -13.57 |
| 2015 (2) | 9.64 | -15.51 | -4.02 | 0 | 3.94 | 6.3 | -4.69 | 0 | -5.12 | 0 | -18.09 | 0 | -4.83 | 0 | 1.04 | -0.95 | -0.17 | 0 | 245.51 | 4.57 | 85.83 | 108.78 | 14.17 | -75.87 | 0.00 | 0 | 21.82 | 17.19 |
| 2014 (1) | 11.41 | 0 | -1.56 | 0 | 3.71 | -14.11 | -3.78 | 0 | -4.50 | 0 | -15.28 | 0 | -4.07 | 0 | 1.05 | 12.9 | 0.67 | 42.55 | 234.79 | 9.29 | 41.11 | -60.26 | 58.70 | 0 | 0.00 | 0 | 18.62 | -9.48 |
