- 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) | 45.09 | 1.08 | -17.55 | 8.97 | -15.46 | 276.23 | -25.31 | 92.22 | -191.7 | -21.72 | 92.5 | -395.11 | -0.45 | 91.14 | -600.0 | -0.14 | 95.94 | -200.0 | 0.02 | 100.0 | 100.0 | -0.99 | 99.67 | -102.44 | 33.57 | -19.59 | 8.89 | -34.95 | -976.7 | -92.23 | 134.95 | 30.59 | 14.19 | 27.13 | 0.93 | 8.26 |
| 23Q3 (19) | 44.61 | -2.19 | -20.72 | 10.61 | 646.91 | -30.56 | -325.20 | 4.68 | 63.95 | -289.41 | 4.89 | 58.8 | -5.08 | -8.32 | 17.93 | -3.45 | -5.18 | 24.67 | 0.01 | 0.0 | 0.0 | -297.95 | 4.56 | 66.46 | 41.75 | 5.38 | 17.24 | -3.25 | -676.19 | -94.15 | 103.34 | 3.92 | 1.64 | 26.88 | 97.5 | 39.85 |
| 23Q2 (18) | 45.61 | 8.7 | -9.95 | -1.94 | -153.89 | -103.93 | -341.17 | -198.22 | -188.98 | -304.30 | -204.22 | -168.7 | -4.69 | -195.71 | -326.36 | -3.28 | -186.77 | -310.0 | 0.01 | 0.0 | 0.0 | -312.18 | -185.16 | -190.89 | 39.62 | 17.22 | 25.98 | 0.56 | -45.35 | 101.35 | 99.44 | 0.47 | -29.84 | 13.61 | -68.21 | -41.84 |
| 23Q1 (17) | 41.96 | -23.28 | -15.04 | 3.60 | 170.73 | -96.76 | 347.36 | 1158.55 | -53.75 | 291.98 | 3867.12 | -47.76 | 4.90 | 5344.44 | 25.0 | 3.78 | 2600.0 | 29.45 | 0.01 | 0.0 | 0.0 | 366.57 | 803.1 | -52.7 | 33.80 | 9.63 | 6.73 | 1.03 | 105.67 | -93.03 | 98.97 | -16.26 | 16.16 | 42.81 | 70.83 | 32.29 |
| 22Q4 (16) | 54.69 | -2.81 | 2.84 | -5.09 | -133.31 | -107.04 | 27.60 | 103.06 | 102.19 | 7.36 | 101.05 | 100.64 | 0.09 | 101.45 | 101.43 | 0.14 | 103.06 | 103.23 | 0.01 | 0.0 | 0 | 40.59 | 104.57 | 103.29 | 30.83 | -13.42 | -30.44 | -18.18 | -987.41 | -215.5 | 118.18 | 16.24 | 11.74 | 25.06 | 30.39 | -22.34 |
| 22Q3 (15) | 56.27 | 11.1 | 12.23 | 15.28 | -69.06 | -89.9 | -902.04 | -664.05 | 49.75 | -702.52 | -520.33 | 55.76 | -6.19 | -462.73 | -7.47 | -4.58 | -472.5 | -11.17 | 0.01 | 0.0 | 0 | -888.37 | -727.78 | 49.33 | 35.61 | 13.23 | -13.13 | -1.67 | 95.99 | 80.16 | 101.67 | -28.27 | -6.23 | 19.22 | -17.86 | -49.15 |
| 22Q2 (14) | 50.65 | 2.55 | 4.56 | 49.39 | -55.54 | 142.14 | -118.06 | -115.72 | -108.09 | -113.25 | -120.26 | -109.34 | -1.10 | -128.06 | -116.9 | -0.80 | -127.4 | -116.29 | 0.01 | 0.0 | 0 | -107.32 | -113.85 | -107.25 | 31.45 | -0.69 | -10.4 | -41.74 | -382.02 | -420.48 | 141.74 | 66.35 | 31.15 | 23.40 | -27.69 | -38.24 |
| 22Q1 (13) | 49.39 | -7.13 | -9.95 | 111.08 | 53.72 | 155.08 | 751.09 | 159.65 | -68.42 | 558.89 | 148.93 | -73.42 | 3.92 | 162.32 | -73.76 | 2.92 | 167.28 | -73.91 | 0.01 | 0 | 0.0 | 775.00 | 162.89 | -67.77 | 31.67 | -28.54 | -6.0 | 14.80 | 356.79 | 274.75 | 85.20 | -19.44 | -21.45 | 32.36 | 0.28 | -11.66 |
| 21Q4 (12) | 53.18 | 6.06 | -1.74 | 72.26 | -52.25 | 197.35 | -1259.15 | 29.86 | -198.55 | -1142.13 | 28.07 | -214.27 | -6.29 | -9.2 | -172.22 | -4.34 | -5.34 | -165.86 | 0.00 | 0 | -100.0 | -1232.23 | 29.72 | -195.17 | 44.32 | 8.12 | 26.45 | -5.76 | 31.62 | 1.08 | 105.76 | -2.46 | -0.06 | 32.27 | -14.63 | -4.7 |
| 21Q3 (11) | 50.14 | 3.51 | 14.95 | 151.32 | 229.11 | 165.56 | -1795.28 | -223.09 | -218.55 | -1587.87 | -230.94 | -232.04 | -5.76 | -188.48 | -163.79 | -4.12 | -183.91 | -160.59 | 0.00 | 0 | -100.0 | -1753.41 | -218.5 | -214.64 | 40.99 | 16.78 | 28.54 | -8.43 | -5.11 | 44.77 | 108.43 | 0.33 | -5.93 | 37.80 | -0.24 | -47.44 |
| 21Q2 (10) | 48.44 | -11.69 | -11.1 | -117.20 | 41.89 | -249.75 | 1458.49 | -38.68 | 4.56 | 1212.68 | -42.33 | -2.25 | 6.51 | -56.43 | -18.52 | 4.91 | -56.12 | -16.92 | 0.00 | -100.0 | 0 | 1479.70 | -38.46 | 4.06 | 35.10 | 4.19 | -4.31 | -8.02 | 5.31 | -235.18 | 108.07 | -0.37 | 5.55 | 37.89 | 3.44 | 0 |
| 21Q1 (9) | 54.85 | 1.35 | 18.65 | -201.67 | -171.68 | -11490.23 | 2378.56 | 86.17 | 2027.89 | 2102.61 | 110.36 | 2181.73 | 14.94 | 71.53 | 734.64 | 11.19 | 69.8 | 735.07 | 0.01 | 0.0 | 0.0 | 2404.43 | 85.7 | 1762.02 | 33.69 | -3.88 | -8.97 | -8.47 | -45.35 | -484.31 | 108.47 | 2.5 | 6.92 | 36.63 | 8.18 | 0 |
| 20Q4 (8) | 54.12 | 24.07 | 25.34 | -74.23 | 67.84 | -321.76 | 1277.62 | -15.63 | 2597.79 | 999.54 | -16.88 | 2076.94 | 8.71 | -3.54 | 780.47 | 6.59 | -3.09 | 990.54 | 0.01 | 0.0 | -50.0 | 1294.77 | -15.35 | 3789.85 | 35.05 | 9.91 | -26.86 | -5.83 | 61.82 | -116.87 | 105.83 | -8.19 | 61.66 | 33.86 | -52.92 | 38.6 |
| 20Q3 (7) | 43.62 | -19.95 | -1.96 | -230.80 | -588.75 | -20324.78 | 1514.36 | 8.56 | 2994.32 | 1202.53 | -3.07 | 5014.97 | 9.03 | 13.02 | 1603.77 | 6.80 | 15.06 | 1481.4 | 0.01 | 0 | 0.0 | 1529.55 | 7.57 | 2238.05 | 31.89 | -13.06 | -41.19 | -15.26 | -537.91 | -548.59 | 115.26 | 12.57 | 12.61 | 71.92 | 0 | 137.75 |
| 20Q2 (6) | 54.49 | 17.87 | 33.75 | -33.51 | -1825.86 | -227.89 | 1394.92 | 1147.92 | 915.37 | 1240.57 | 1246.25 | 1817.42 | 7.99 | 346.37 | 447.26 | 5.91 | 341.04 | 452.34 | 0.00 | -100.0 | -100.0 | 1421.90 | 1001.14 | 828.62 | 36.68 | -0.89 | -36.06 | -2.39 | -65.07 | 67.9 | 102.39 | 0.93 | -4.71 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 46.23 | 7.06 | 5.04 | -1.74 | 90.11 | -136.71 | 111.78 | 318.53 | 212.4 | 92.15 | 282.26 | 203.39 | 1.79 | 239.84 | 185.24 | 1.34 | 281.08 | 191.78 | 0.01 | -50.0 | -50.0 | 129.13 | 468.0 | 251.42 | 37.01 | -22.77 | -4.66 | -1.45 | -104.2 | 69.48 | 101.45 | 54.97 | -3.41 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 43.18 | -2.94 | 0.0 | -17.60 | -1457.52 | 0.0 | -51.15 | -204.52 | 0.0 | -50.56 | -315.06 | 0.0 | -1.28 | -341.51 | 0.0 | -0.74 | -272.09 | 0.0 | 0.02 | 100.0 | 0.0 | -35.09 | -153.64 | 0.0 | 47.92 | -11.64 | 0.0 | 34.54 | 1567.78 | 0.0 | 65.46 | -36.04 | 0.0 | 24.43 | -19.24 | 0.0 |
| 19Q3 (3) | 44.49 | 9.2 | 0.0 | -1.13 | 88.94 | 0.0 | 48.94 | -64.38 | 0.0 | 23.51 | -63.66 | 0.0 | 0.53 | -63.7 | 0.0 | 0.43 | -59.81 | 0.0 | 0.01 | -50.0 | 0.0 | 65.42 | -57.28 | 0.0 | 54.23 | -5.47 | 0.0 | -2.35 | 68.43 | 0.0 | 102.35 | -4.75 | 0.0 | 30.25 | 10.81 | 0.0 |
| 19Q2 (2) | 40.74 | -7.43 | 0.0 | -10.22 | -315.61 | 0.0 | 137.38 | 238.14 | 0.0 | 64.70 | 172.59 | 0.0 | 1.46 | 169.52 | 0.0 | 1.07 | 173.29 | 0.0 | 0.02 | 0.0 | 0.0 | 153.12 | 279.55 | 0.0 | 57.37 | 47.78 | 0.0 | -7.45 | -56.96 | 0.0 | 107.45 | 2.31 | 0.0 | 27.30 | -3.91 | 0.0 |
| 19Q1 (1) | 44.01 | 0.0 | 0.0 | 4.74 | 0.0 | 0.0 | -99.45 | 0.0 | 0.0 | -89.13 | 0.0 | 0.0 | -2.10 | 0.0 | 0.0 | -1.46 | 0.0 | 0.0 | 0.02 | 0.0 | 0.0 | -85.28 | 0.0 | 0.0 | 38.82 | 0.0 | 0.0 | -4.75 | 0.0 | 0.0 | 105.03 | 0.0 | 0.0 | 28.41 | 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) | 44.34 | -16.21 | 5.64 | -84.76 | 7.17 | 72.17 | -79.91 | 0 | -75.15 | 0 | -5.31 | 0 | -3.40 | 0 | 0.05 | 66.67 | -54.95 | 0 | 33.57 | 8.89 | -7.09 | 0 | 107.00 | -27.81 | 3.06 | 25583.64 | 27.81 | 12.36 |
| 2022 (9) | 52.92 | 1.93 | 37.01 | 0 | 4.17 | -36.87 | -76.71 | 0 | -74.98 | 0 | -2.85 | 0 | -1.83 | 0 | 0.03 | 50.0 | -61.59 | 0 | 30.83 | -30.44 | -48.22 | 0 | 148.22 | 35.01 | 0.01 | 20.87 | 24.75 | -31.46 |
| 2021 (8) | 51.92 | 6.28 | -50.82 | 0 | 6.60 | -12.37 | 519.02 | -37.95 | 431.30 | -36.71 | 10.34 | -61.82 | 7.68 | -60.68 | 0.02 | -33.33 | 546.60 | -36.15 | 44.32 | 26.45 | -9.78 | 0 | 109.78 | 1.77 | 0.01 | -45.08 | 36.11 | -12.48 |
| 2020 (7) | 48.85 | 13.31 | -65.80 | 0 | 7.53 | -5.0 | 836.40 | 11831.53 | 681.47 | 0 | 27.08 | 0 | 19.53 | 0 | 0.03 | -57.14 | 856.07 | 3664.6 | 35.05 | -26.86 | -7.87 | 0 | 107.87 | -42.66 | 0.02 | -79.49 | 41.26 | 49.82 |
| 2019 (6) | 43.11 | -9.66 | -6.22 | 0 | 7.93 | 285.66 | 7.01 | -84.49 | -14.16 | 0 | -1.32 | 0 | -0.55 | 0 | 0.07 | -90.54 | 22.74 | -54.96 | 47.92 | 50.98 | -88.12 | 0 | 188.12 | 116.64 | 0.09 | -18.99 | 27.54 | 62.57 |
| 2018 (5) | 47.72 | 9.5 | 5.95 | 29.91 | 2.06 | -2.54 | 45.19 | 515.67 | 36.43 | 763.27 | 48.78 | 873.65 | 27.49 | 861.19 | 0.74 | 32.14 | 50.49 | 292.61 | 31.74 | -75.02 | 13.17 | -78.91 | 86.83 | 131.23 | 0.11 | 0 | 16.94 | -1.91 |
| 2017 (4) | 43.58 | 4.84 | 4.58 | 60.14 | 2.11 | -10.64 | 7.34 | 86.77 | 4.22 | 160.49 | 5.01 | 215.09 | 2.86 | 105.76 | 0.56 | 7.69 | 12.86 | 22.13 | 127.04 | 38.33 | 62.45 | -14.17 | 37.55 | 37.85 | 0.00 | 0 | 17.27 | -4.27 |
| 2016 (3) | 41.57 | 17.03 | 2.86 | 0 | 2.36 | -0.42 | 3.93 | -53.1 | 1.62 | -74.73 | 1.59 | -60.15 | 1.39 | -56.15 | 0.52 | 44.44 | 10.53 | -34.15 | 91.84 | 4.91 | 72.76 | 0 | 27.24 | -74.84 | 0.00 | 0 | 18.04 | 26.24 |
| 2015 (2) | 35.52 | -11.31 | -0.69 | 0 | 2.37 | -65.07 | 8.38 | -87.12 | 6.41 | -87.95 | 3.99 | -50.12 | 3.17 | -50.62 | 0.36 | 200.0 | 15.99 | -78.02 | 87.54 | 126.61 | -8.26 | 0 | 108.26 | -3.16 | 0.00 | 0 | 14.29 | -48.76 |
| 2014 (1) | 40.05 | 0 | -7.73 | 0 | 6.79 | -14.67 | 65.07 | 0 | 53.18 | 0 | 8.00 | 0 | 6.42 | 0 | 0.12 | -25.0 | 72.75 | 255.05 | 38.63 | 328.27 | -11.97 | 0 | 111.79 | -23.14 | 0.00 | 0 | 27.89 | -0.57 |
