- 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) | 18.55 | 3.92 | -8.62 | 3.02 | -30.73 | -67.07 | 0.72 | -97.86 | -89.44 | -0.43 | -101.45 | -107.19 | -0.10 | -101.48 | -105.75 | -0.01 | -100.24 | -100.93 | 0.14 | 0.0 | -12.5 | 4.65 | -87.65 | -55.88 | 64.71 | 3.39 | -18.72 | 421.43 | 3151.02 | 212.1 | -321.43 | -469.3 | -834.52 | 7.83 | 6.53 | -11.43 |
| 23Q3 (19) | 17.85 | -0.67 | 20.36 | 4.36 | 128.27 | 323.3 | 33.68 | -22.63 | 11.97 | 29.68 | -27.31 | 9.12 | 6.76 | -22.65 | -20.75 | 4.16 | -20.61 | -10.15 | 0.14 | 7.69 | -17.65 | 37.65 | -21.89 | 11.42 | 62.59 | -7.4 | -22.2 | 12.96 | 193.83 | 282.95 | 87.04 | -8.95 | -9.91 | 7.35 | -10.91 | 18.55 |
| 23Q2 (18) | 17.97 | -4.62 | 14.82 | 1.91 | -40.5 | -70.88 | 43.53 | 1826.11 | 557.55 | 40.83 | 3751.89 | 825.85 | 8.74 | 3700.0 | 429.7 | 5.24 | 2281.82 | 469.57 | 0.13 | 8.33 | -27.78 | 48.20 | 571.31 | 380.56 | 67.59 | -4.91 | -31.62 | 4.41 | -96.95 | -95.54 | 95.59 | 327.02 | 16532.35 | 8.25 | 0.24 | 64.02 |
| 23Q1 (17) | 18.84 | -7.19 | 55.96 | 3.21 | -64.99 | 21.59 | 2.26 | -66.86 | -47.44 | 1.06 | -82.27 | -59.85 | 0.23 | -86.78 | -76.53 | 0.22 | -79.63 | -60.71 | 0.12 | -25.0 | -29.41 | 7.18 | -31.88 | -5.53 | 71.08 | -10.71 | -35.89 | 144.74 | 7.19 | 134.65 | -42.11 | -22.42 | -209.88 | 8.23 | -6.9 | 54.12 |
| 22Q4 (16) | 20.30 | 36.88 | 61.11 | 9.17 | 790.29 | 277.37 | 6.82 | -77.33 | 224.76 | 5.98 | -78.01 | 49.87 | 1.74 | -79.6 | -3.33 | 1.08 | -76.67 | 11.34 | 0.16 | -5.88 | -20.0 | 10.54 | -68.81 | 102.3 | 79.61 | -1.04 | -34.85 | 135.03 | 3889.07 | 16.01 | -34.39 | -135.6 | -109.81 | 8.84 | 42.58 | 62.8 |
| 22Q3 (15) | 14.83 | -5.24 | 74.88 | 1.03 | -84.3 | 135.03 | 30.08 | 354.38 | 1342.98 | 27.20 | 516.78 | 2820.0 | 8.53 | 416.97 | 2405.41 | 4.63 | 403.26 | 6714.29 | 0.17 | -5.56 | 0.0 | 33.79 | 236.89 | 8792.11 | 80.45 | -18.61 | -41.69 | 3.39 | -96.58 | -97.24 | 96.61 | 16711.0 | 558.92 | 6.20 | 23.26 | 16.1 |
| 22Q2 (14) | 15.65 | 29.55 | 6.32 | 6.56 | 148.48 | 160.32 | 6.62 | 53.95 | 321.66 | 4.41 | 67.05 | 177.36 | 1.65 | 68.37 | 142.65 | 0.92 | 64.29 | 91.67 | 0.18 | 5.88 | -18.18 | 10.03 | 31.97 | 145.83 | 98.85 | -10.85 | -4.48 | 98.85 | 60.26 | -38.74 | 0.57 | -98.5 | 100.94 | 5.03 | -5.81 | 15.1 |
| 22Q1 (13) | 12.08 | -4.13 | -11.76 | 2.64 | 8.64 | -10.81 | 4.30 | 104.76 | 51.41 | 2.64 | -33.83 | -15.11 | 0.98 | -45.56 | -22.22 | 0.56 | -42.27 | -28.21 | 0.17 | -15.0 | -19.05 | 7.60 | 45.87 | 42.59 | 110.88 | -9.26 | 22.87 | 61.68 | -47.01 | -40.69 | 38.32 | 333.74 | 1057.94 | 5.34 | -1.66 | 4.91 |
| 21Q4 (12) | 12.60 | 48.58 | -17.16 | 2.43 | 182.65 | -57.29 | 2.10 | 186.78 | -61.54 | 3.99 | 499.0 | -7.85 | 1.80 | 586.49 | -23.73 | 0.97 | 1485.71 | -31.69 | 0.20 | 17.65 | -31.03 | 5.21 | 1271.05 | -29.21 | 122.19 | -11.44 | 35.08 | 116.39 | -5.22 | 11.57 | -16.39 | 22.13 | -279.1 | 5.43 | 1.69 | 9.26 |
| 21Q3 (11) | 8.48 | -42.39 | -55.65 | -2.94 | -216.67 | -127.95 | -2.42 | -254.14 | -123.14 | -1.00 | -162.89 | -111.76 | -0.37 | -154.41 | -108.33 | -0.07 | -114.58 | -102.76 | 0.17 | -22.73 | -39.29 | 0.38 | -90.69 | -96.94 | 137.97 | 33.32 | 69.37 | 122.81 | -23.89 | 22.42 | -21.05 | 65.69 | -3215.79 | 5.34 | 22.2 | 34.51 |
| 21Q2 (10) | 14.72 | 7.52 | -23.93 | 2.52 | -14.86 | -74.67 | 1.57 | -44.72 | -90.24 | 1.59 | -48.87 | -86.43 | 0.68 | -46.03 | -86.43 | 0.48 | -38.46 | -83.73 | 0.22 | 4.76 | -8.33 | 4.08 | -23.45 | -77.73 | 103.49 | 14.68 | 18.37 | 161.36 | 55.16 | 160.24 | -61.36 | -1434.09 | -260.39 | 4.37 | -14.15 | 10.35 |
| 21Q1 (9) | 13.69 | -9.99 | -22.44 | 2.96 | -47.98 | -17.78 | 2.84 | -47.99 | -54.63 | 3.11 | -28.18 | -29.8 | 1.26 | -46.61 | 43.18 | 0.78 | -45.07 | 23.81 | 0.21 | -27.59 | 75.0 | 5.33 | -27.58 | -51.59 | 90.24 | -0.24 | 34.11 | 104.00 | -0.31 | 79.4 | -4.00 | 7.5 | -109.52 | 5.09 | 2.41 | -33.11 |
| 20Q4 (8) | 15.21 | -20.45 | -4.58 | 5.69 | -45.91 | 497.9 | 5.46 | -47.8 | 492.81 | 4.33 | -49.06 | -80.48 | 2.36 | -46.85 | 486.89 | 1.42 | -44.09 | 646.15 | 0.29 | 3.57 | 70.59 | 7.36 | -40.65 | 384.21 | 90.46 | 11.05 | 22.59 | 104.32 | 3.99 | 4.32 | -4.32 | -581.08 | 0.54 | 4.97 | 25.19 | -51.79 |
| 20Q3 (7) | 19.12 | -1.19 | 39.87 | 10.52 | 5.73 | 325.91 | 10.46 | -34.99 | 579.22 | 8.50 | -27.47 | 126.06 | 4.44 | -11.38 | 11000.0 | 2.54 | -13.9 | 1236.84 | 0.28 | 16.67 | 86.67 | 12.40 | -32.31 | 120.25 | 81.46 | -6.83 | -1.86 | 100.32 | 61.79 | -36.94 | -0.63 | -101.66 | 98.93 | 3.97 | 0.25 | -39.57 |
| 20Q2 (6) | 19.35 | 9.63 | -14.15 | 9.95 | 176.39 | 37.62 | 16.09 | 157.03 | -46.83 | 11.72 | 164.56 | -48.71 | 5.01 | 469.32 | -24.55 | 2.95 | 368.25 | -28.74 | 0.24 | 100.0 | 33.33 | 18.32 | 66.39 | -45.43 | 87.43 | 29.93 | 17.67 | 62.01 | 6.96 | 159.54 | 38.26 | -8.97 | -49.73 | 3.96 | -47.96 | -56.91 |
| 20Q1 (5) | 17.65 | 10.73 | -19.33 | 3.60 | 351.75 | -62.15 | 6.26 | 550.36 | -26.61 | 4.43 | -80.03 | -13.81 | 0.88 | 244.26 | -39.73 | 0.63 | 342.31 | -40.0 | 0.12 | -29.41 | -33.33 | 11.01 | 624.34 | -6.85 | 67.29 | -8.81 | 18.82 | 57.97 | -42.03 | -48.03 | 42.03 | 1066.67 | 464.25 | 7.61 | -26.19 | 10.77 |
| 19Q4 (4) | 15.94 | 16.61 | 0.0 | -1.43 | -157.89 | 0.0 | -1.39 | -190.26 | 0.0 | 22.18 | 489.89 | 0.0 | -0.61 | -1625.0 | 0.0 | -0.26 | -236.84 | 0.0 | 0.17 | 13.33 | 0.0 | 1.52 | -73.0 | 0.0 | 73.79 | -11.1 | 0.0 | 100.00 | -37.14 | 0.0 | -4.35 | 92.64 | 0.0 | 10.31 | 56.93 | 0.0 |
| 19Q3 (3) | 13.67 | -39.35 | 0.0 | 2.47 | -65.84 | 0.0 | 1.54 | -94.91 | 0.0 | 3.76 | -83.54 | 0.0 | 0.04 | -99.4 | 0.0 | 0.19 | -95.41 | 0.0 | 0.15 | -16.67 | 0.0 | 5.63 | -83.23 | 0.0 | 83.00 | 11.71 | 0.0 | 159.09 | 565.93 | 0.0 | -59.09 | -177.64 | 0.0 | 6.57 | -28.51 | 0.0 |
| 19Q2 (2) | 22.54 | 3.02 | 0.0 | 7.23 | -23.97 | 0.0 | 30.26 | 254.75 | 0.0 | 22.85 | 344.55 | 0.0 | 6.64 | 354.79 | 0.0 | 4.14 | 294.29 | 0.0 | 0.18 | 0.0 | 0.0 | 33.57 | 184.01 | 0.0 | 74.30 | 31.2 | 0.0 | 23.89 | -78.58 | 0.0 | 76.11 | 759.62 | 0.0 | 9.19 | 33.77 | 0.0 |
| 19Q1 (1) | 21.88 | 0.0 | 0.0 | 9.51 | 0.0 | 0.0 | 8.53 | 0.0 | 0.0 | 5.14 | 0.0 | 0.0 | 1.46 | 0.0 | 0.0 | 1.05 | 0.0 | 0.0 | 0.18 | 0.0 | 0.0 | 11.82 | 0.0 | 0.0 | 56.63 | 0.0 | 0.0 | 111.54 | 0.0 | 0.0 | -11.54 | 0.0 | 0.0 | 6.87 | 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) | 18.29 | 16.94 | 3.15 | -35.05 | 3.50 | 36.08 | 19.85 | 69.22 | 17.57 | 78.92 | 15.43 | 16.63 | 9.26 | 30.42 | 0.51 | -25.0 | 24.18 | 58.56 | 64.71 | -18.72 | 15.88 | -61.52 | 84.12 | 43.23 | 0.34 | -11.1 | 7.89 | 25.44 |
| 2022 (9) | 15.64 | 25.02 | 4.85 | 248.92 | 2.57 | 39.66 | 11.73 | 928.95 | 9.82 | 381.37 | 13.23 | 292.58 | 7.10 | 225.69 | 0.68 | -15.0 | 15.25 | 294.06 | 79.61 | -34.85 | 41.27 | -66.21 | 58.73 | 0 | 0.38 | 401.3 | 6.29 | 24.55 |
| 2021 (8) | 12.51 | -29.2 | 1.39 | -82.52 | 1.84 | 14.88 | 1.14 | -88.14 | 2.04 | -72.36 | 3.37 | -72.26 | 2.18 | -69.47 | 0.80 | -11.11 | 3.87 | -67.56 | 122.19 | 35.08 | 122.13 | 47.83 | -22.13 | 0 | 0.08 | -16.17 | 5.05 | 6.99 |
| 2020 (7) | 17.67 | -4.8 | 7.95 | 81.51 | 1.60 | -32.52 | 9.61 | -1.74 | 7.38 | -46.83 | 12.15 | 63.09 | 7.14 | 45.42 | 0.90 | 34.33 | 11.93 | -9.35 | 90.46 | 22.59 | 82.61 | 84.2 | 17.39 | -68.57 | 0.09 | -37.73 | 4.72 | -43.2 |
| 2019 (6) | 18.56 | -3.13 | 4.38 | 0.23 | 2.37 | 18.55 | 9.78 | -50.98 | 13.88 | -15.52 | 7.45 | -64.42 | 4.91 | -62.14 | 0.67 | -11.84 | 13.16 | -42.1 | 73.79 | 14.28 | 44.85 | 104.56 | 55.32 | -29.22 | 0.14 | -3.27 | 8.31 | 10.51 |
| 2018 (5) | 19.16 | -9.62 | 4.37 | -1.35 | 2.00 | -6.5 | 19.95 | 196.43 | 16.43 | 240.87 | 20.94 | 296.59 | 12.97 | 361.57 | 0.76 | 46.15 | 22.73 | 135.79 | 64.57 | -7.48 | 21.93 | -66.66 | 78.16 | 128.24 | 0.15 | 0 | 7.52 | -11.43 |
| 2017 (4) | 21.20 | -12.9 | 4.43 | -63.05 | 2.14 | -18.02 | 6.73 | -33.23 | 4.82 | 24.23 | 5.28 | 216.17 | 2.81 | 251.25 | 0.52 | 205.88 | 9.64 | -29.99 | 69.79 | -54.3 | 65.76 | -44.66 | 34.24 | 0 | 0.00 | 0 | 8.49 | 11.27 |
| 2016 (3) | 24.34 | 0 | 11.99 | 0 | 2.61 | 0 | 10.08 | 0 | 3.88 | 0 | 1.67 | 0 | 0.80 | 0 | 0.17 | 0 | 13.77 | 0 | 152.70 | 0 | 118.82 | 0 | -18.82 | 0 | 0.00 | 0 | 7.63 | 0 |
