- 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) | 16.20 | 40.62 | 2031.58 | 1.25 | 355.1 | 111.37 | 3.03 | -63.27 | 135.69 | 3.79 | -40.69 | 238.32 | 0.50 | -54.55 | 184.75 | 0.36 | -54.43 | 200.0 | 0.09 | -25.0 | -40.0 | 6.86 | -39.02 | 220.35 | 44.48 | 9.31 | 8.46 | 41.18 | 791.42 | -68.2 | 58.82 | -44.48 | 299.55 | 17.54 | 25.55 | 52.12 |
| 23Q3 (19) | 11.52 | 3.69 | -4.64 | -0.49 | -131.61 | -127.07 | 8.25 | 1.48 | -90.82 | 6.39 | -17.01 | -90.81 | 1.10 | -12.0 | -93.23 | 0.79 | -13.19 | -92.49 | 0.12 | 9.09 | -20.0 | 11.25 | -3.93 | -87.84 | 40.69 | -8.36 | -20.88 | -5.96 | -131.28 | -395.0 | 105.96 | 31.09 | 8.14 | 13.97 | -4.51 | 12.66 |
| 23Q2 (18) | 11.11 | -9.6 | 21.16 | 1.55 | 206.16 | 291.36 | 8.13 | 241.6 | 47.55 | 7.70 | 335.03 | 68.86 | 1.25 | 380.77 | 17.92 | 0.91 | 295.65 | 30.0 | 0.11 | 10.0 | -26.67 | 11.71 | 87.36 | 43.5 | 44.40 | -3.18 | -25.0 | 19.04 | 131.28 | 230.22 | 80.83 | -49.76 | -29.49 | 14.63 | -7.87 | 15.56 |
| 23Q1 (17) | 12.29 | 1517.11 | 16.83 | -1.46 | 86.72 | -343.33 | 2.38 | 128.03 | -60.27 | 1.77 | 164.6 | -62.42 | 0.26 | 144.07 | -74.76 | 0.23 | 163.89 | -67.14 | 0.10 | -33.33 | -33.33 | 6.25 | 209.65 | -26.47 | 45.86 | 11.83 | -11.64 | -60.87 | -147.01 | -706.91 | 160.87 | 645.73 | 78.8 | 15.88 | 37.73 | 23.48 |
| 22Q4 (16) | 0.76 | -93.71 | -93.86 | -10.99 | -707.18 | -1585.14 | -8.49 | -109.45 | -224.67 | -2.74 | -103.94 | -147.9 | -0.59 | -103.63 | -155.66 | -0.36 | -103.42 | -148.65 | 0.15 | 0.0 | 15.38 | -5.70 | -106.16 | -158.95 | 41.01 | -20.26 | -9.13 | 129.48 | 6313.77 | 1087.49 | -29.48 | -130.08 | -133.09 | 11.53 | -7.02 | -20.04 |
| 22Q3 (15) | 12.08 | 31.73 | 11.34 | 1.81 | 323.46 | 366.18 | 89.88 | 1531.22 | -40.32 | 69.53 | 1424.78 | -17.22 | 16.26 | 1433.96 | -0.61 | 10.52 | 1402.86 | -9.31 | 0.15 | 0.0 | 7.14 | 92.55 | 1034.19 | -39.72 | 51.43 | -13.13 | 18.18 | 2.02 | 113.81 | 541.03 | 97.98 | -14.52 | -2.46 | 12.40 | -2.05 | -13.53 |
| 22Q2 (14) | 9.17 | -12.83 | -3.37 | -0.81 | -235.0 | -272.34 | 5.51 | -8.01 | -80.35 | 4.56 | -3.18 | -81.37 | 1.06 | 2.91 | -84.01 | 0.70 | 0.0 | -85.23 | 0.15 | 0.0 | -21.05 | 8.16 | -4.0 | -73.03 | 59.20 | 14.07 | 54.21 | -14.62 | -245.8 | -981.8 | 114.62 | 27.4 | 16.56 | 12.66 | -1.56 | 11.74 |
| 22Q1 (13) | 10.52 | -14.96 | 14.97 | 0.60 | -18.92 | 433.33 | 5.99 | -12.04 | -2.44 | 4.71 | -17.66 | -20.44 | 1.03 | -2.83 | -34.81 | 0.70 | -5.41 | -39.13 | 0.15 | 15.38 | -21.05 | 8.50 | -12.1 | 0.83 | 51.90 | 15.0 | 23.42 | 10.03 | -8.02 | 435.27 | 89.97 | 0.98 | -12.64 | 12.86 | -10.82 | 8.34 |
| 21Q4 (12) | 12.37 | 14.01 | 31.74 | 0.74 | 208.82 | 164.35 | 6.81 | -95.48 | -26.06 | 5.72 | -93.19 | -37.0 | 1.06 | -93.52 | -51.15 | 0.74 | -93.62 | -54.6 | 0.13 | -7.14 | -27.78 | 9.67 | -93.7 | -18.53 | 45.13 | 3.7 | 33.92 | 10.90 | 2482.06 | 187.51 | 89.10 | -11.3 | -20.85 | 14.42 | 0.56 | 8.1 |
| 21Q3 (11) | 10.85 | 14.33 | -1.0 | -0.68 | -244.68 | -139.77 | 150.61 | 437.13 | 1780.27 | 83.99 | 243.1 | 995.05 | 16.36 | 146.76 | 623.89 | 11.60 | 144.73 | 607.32 | 0.14 | -26.32 | -33.33 | 153.53 | 407.37 | 1411.12 | 43.52 | 13.36 | 24.49 | -0.46 | -127.6 | -102.14 | 100.45 | 2.14 | 27.75 | 14.34 | 26.57 | 22.98 |
| 21Q2 (10) | 9.49 | 3.72 | -18.47 | 0.47 | 361.11 | 1075.0 | 28.04 | 356.68 | 392.79 | 24.48 | 313.51 | 362.76 | 6.63 | 319.62 | 363.64 | 4.74 | 312.17 | 360.19 | 0.19 | 0.0 | 0.0 | 30.26 | 258.96 | 272.2 | 38.39 | -8.7 | -8.92 | 1.66 | 155.43 | 149.57 | 98.34 | -4.51 | -1.0 | 11.33 | -4.55 | 0 |
| 21Q1 (9) | 9.15 | -2.56 | -31.1 | -0.18 | 84.35 | 10.0 | 6.14 | -33.33 | 5.68 | 5.92 | -34.8 | 9.02 | 1.58 | -27.19 | 31.67 | 1.15 | -29.45 | 29.21 | 0.19 | 5.56 | 18.75 | 8.43 | -28.98 | -5.07 | 42.05 | 24.78 | 4.92 | -2.99 | 75.99 | 11.14 | 102.99 | -8.51 | -0.36 | 11.87 | -11.02 | 0 |
| 20Q4 (8) | 9.39 | -14.32 | -39.14 | -1.15 | -167.25 | -138.98 | 9.21 | 14.98 | -11.36 | 9.08 | 18.38 | -0.22 | 2.17 | -3.98 | -9.21 | 1.63 | -0.61 | -7.91 | 0.18 | -14.29 | -5.26 | 11.87 | 16.83 | -8.34 | 33.70 | -3.6 | -15.94 | -12.46 | -158.31 | -143.94 | 112.57 | 43.16 | 57.13 | 13.34 | 14.41 | -7.3 |
| 20Q3 (7) | 10.96 | -5.84 | -32.72 | 1.71 | 4175.0 | -19.72 | 8.01 | 40.77 | -29.12 | 7.67 | 44.99 | -26.81 | 2.26 | 58.04 | -4.64 | 1.64 | 59.22 | -8.38 | 0.21 | 10.53 | 23.53 | 10.16 | 24.97 | -28.25 | 34.96 | -17.06 | 6.81 | 21.37 | 3115.95 | 12.87 | 78.63 | -20.84 | -3.13 | 11.66 | 0 | -27.62 |
| 20Q2 (6) | 11.64 | -12.35 | -12.61 | 0.04 | 120.0 | -97.47 | 5.69 | -2.07 | -25.23 | 5.29 | -2.58 | -21.75 | 1.43 | 19.17 | -11.18 | 1.03 | 15.73 | -16.26 | 0.19 | 18.75 | 5.56 | 8.13 | -8.45 | -20.29 | 42.15 | 5.16 | 17.25 | 0.66 | 119.74 | -96.81 | 99.34 | -3.9 | 25.19 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 13.28 | -13.93 | 6.33 | -0.20 | -106.78 | 89.07 | 5.81 | -44.08 | 38.0 | 5.43 | -40.33 | 41.04 | 1.20 | -49.79 | 60.0 | 0.89 | -49.72 | 48.33 | 0.16 | -15.79 | 6.67 | 8.88 | -31.43 | 23.85 | 40.08 | -0.02 | 30.34 | -3.37 | -111.87 | 92.26 | 103.37 | 44.28 | -27.96 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 15.43 | -5.28 | 0.0 | 2.95 | 38.5 | 0.0 | 10.39 | -8.05 | 0.0 | 9.10 | -13.17 | 0.0 | 2.39 | 0.84 | 0.0 | 1.77 | -1.12 | 0.0 | 0.19 | 11.76 | 0.0 | 12.95 | -8.55 | 0.0 | 40.09 | 22.49 | 0.0 | 28.36 | 49.79 | 0.0 | 71.64 | -11.74 | 0.0 | 14.39 | -10.68 | 0.0 |
| 19Q3 (3) | 16.29 | 22.3 | 0.0 | 2.13 | 34.81 | 0.0 | 11.30 | 48.49 | 0.0 | 10.48 | 55.03 | 0.0 | 2.37 | 47.2 | 0.0 | 1.79 | 45.53 | 0.0 | 0.17 | -5.56 | 0.0 | 14.16 | 38.82 | 0.0 | 32.73 | -8.96 | 0.0 | 18.93 | -8.97 | 0.0 | 81.17 | 2.3 | 0.0 | 16.11 | 16.65 | 0.0 |
| 19Q2 (2) | 13.32 | 6.65 | 0.0 | 1.58 | 186.34 | 0.0 | 7.61 | 80.76 | 0.0 | 6.76 | 75.58 | 0.0 | 1.61 | 114.67 | 0.0 | 1.23 | 105.0 | 0.0 | 0.18 | 20.0 | 0.0 | 10.20 | 42.26 | 0.0 | 35.95 | 16.91 | 0.0 | 20.80 | 147.82 | 0.0 | 79.34 | -44.7 | 0.0 | 13.81 | -17.11 | 0.0 |
| 19Q1 (1) | 12.49 | 0.0 | 0.0 | -1.83 | 0.0 | 0.0 | 4.21 | 0.0 | 0.0 | 3.85 | 0.0 | 0.0 | 0.75 | 0.0 | 0.0 | 0.60 | 0.0 | 0.0 | 0.15 | 0.0 | 0.0 | 7.17 | 0.0 | 0.0 | 30.75 | 0.0 | 0.0 | -43.49 | 0.0 | 0.0 | 143.49 | 0.0 | 0.0 | 16.66 | 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) | 12.63 | 57.48 | 0.19 | 0 | 2.91 | 30.81 | 5.63 | -76.24 | 5.03 | -74.13 | 2.93 | -82.15 | 2.16 | -81.36 | 0.41 | -30.51 | 9.18 | -65.17 | 44.48 | 8.46 | 3.40 | 0 | 96.65 | -12.52 | 0.12 | -12.88 | 15.39 | 24.72 |
| 2022 (9) | 8.02 | -22.44 | -2.49 | 0 | 2.22 | -1.11 | 23.70 | -46.54 | 19.44 | -31.43 | 16.41 | -34.57 | 11.59 | -35.43 | 0.59 | -6.35 | 26.36 | -43.75 | 41.01 | -9.13 | -10.49 | 0 | 110.49 | 10.74 | 0.13 | 54.1 | 12.34 | -3.82 |
| 2021 (8) | 10.34 | -8.01 | 0.10 | -44.44 | 2.25 | 1.72 | 44.33 | 512.29 | 28.35 | 309.09 | 25.08 | 261.9 | 17.95 | 249.9 | 0.63 | -13.7 | 46.86 | 379.14 | 45.13 | 33.92 | 0.22 | -90.96 | 99.78 | 2.32 | 0.09 | -34.97 | 12.83 | -4.25 |
| 2020 (7) | 11.24 | -22.38 | 0.18 | -87.14 | 2.21 | -5.31 | 7.24 | -15.81 | 6.93 | -10.47 | 6.93 | -3.35 | 5.13 | -5.87 | 0.73 | 5.8 | 9.78 | -13.68 | 33.70 | -15.94 | 2.48 | -84.72 | 97.52 | 16.44 | 0.13 | -17.24 | 13.40 | -11.49 |
| 2019 (6) | 14.48 | -7.0 | 1.40 | 28.44 | 2.33 | 13.35 | 8.60 | -23.83 | 7.74 | -27.8 | 7.17 | -21.12 | 5.45 | -21.47 | 0.69 | 6.15 | 11.33 | -17.48 | 40.09 | 47.93 | 16.25 | 68.98 | 83.75 | -7.34 | 0.16 | -25.08 | 15.14 | -6.02 |
| 2018 (5) | 15.57 | 33.99 | 1.09 | -28.29 | 2.06 | 75.17 | 11.29 | 89.75 | 10.72 | 102.65 | 9.09 | 22.01 | 6.94 | 29.24 | 0.65 | -35.0 | 13.73 | 85.29 | 27.10 | -24.28 | 9.62 | -62.29 | 90.38 | 21.32 | 0.21 | 0 | 16.11 | 56.26 |
| 2017 (4) | 11.62 | 1.13 | 1.52 | 7.8 | 1.18 | 25.68 | 5.95 | -6.0 | 5.29 | -5.87 | 7.45 | -6.76 | 5.37 | -6.45 | 1.00 | -1.96 | 7.41 | -1.46 | 35.79 | -20.54 | 25.50 | 14.28 | 74.50 | -4.1 | 0.00 | 0 | 10.31 | 1.68 |
| 2016 (3) | 11.49 | 2.96 | 1.41 | 138.98 | 0.94 | -12.52 | 6.33 | 57.46 | 5.62 | 60.57 | 7.99 | 49.63 | 5.74 | 50.66 | 1.02 | -4.67 | 7.52 | 32.86 | 45.04 | 30.17 | 22.31 | 51.82 | 77.69 | -8.93 | 0.00 | 0 | 10.14 | -1.27 |
| 2015 (2) | 11.16 | -17.7 | 0.59 | 0 | 1.07 | -7.69 | 4.02 | 60.8 | 3.50 | 93.37 | 5.34 | 119.75 | 3.81 | 120.23 | 1.07 | 17.58 | 5.66 | 26.62 | 34.60 | -30.7 | 14.70 | 0 | 85.30 | -36.51 | 0.00 | 0 | 10.27 | -15.82 |
| 2014 (1) | 13.56 | 0 | -0.86 | 0 | 1.16 | -13.91 | 2.50 | 0 | 1.81 | 0 | 2.43 | 0 | 1.73 | 0 | 0.91 | 237.04 | 4.47 | -40.0 | 49.93 | 12.53 | -34.35 | 0 | 134.35 | 11.81 | 0.00 | 0 | 12.20 | -4.54 |
