- 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) | 37.75 | -1.44 | -4.31 | -19.82 | 39.72 | -34.1 | -27.65 | 80.33 | 75.44 | -27.52 | 80.42 | 75.63 | -0.89 | 79.01 | 74.86 | -0.80 | 79.54 | 75.68 | 0.03 | 0.0 | 0.0 | -12.44 | 90.05 | 87.42 | 9.15 | 8.41 | 18.37 | 71.67 | 207.3 | 449.44 | 28.33 | -63.05 | -67.42 | 26.60 | -17.57 | 0.08 |
| 23Q3 (19) | 38.30 | 2.68 | -2.17 | -32.88 | 38.06 | -10.93 | -140.55 | 6.15 | -221.63 | -140.55 | 6.15 | -221.75 | -4.24 | -4.95 | -235.03 | -3.91 | -4.55 | -233.9 | 0.03 | 0.0 | 0.0 | -125.06 | 5.76 | -195.09 | 8.44 | 3.56 | 16.57 | 23.32 | -34.22 | 190.65 | 76.68 | 18.8 | -38.9 | 32.27 | -8.87 | -9.84 |
| 23Q2 (18) | 37.30 | -2.89 | -12.77 | -53.08 | -123.03 | -12846.34 | -149.76 | -308.62 | -35.43 | -149.76 | -308.62 | -35.57 | -4.04 | -300.0 | -7.16 | -3.74 | -302.15 | -7.16 | 0.03 | 0.0 | 0.0 | -132.70 | -543.55 | -35.8 | 8.15 | 8.67 | 2.64 | 35.45 | -45.28 | 9366.36 | 64.55 | 83.31 | -35.21 | 35.41 | 9.36 | 44.71 |
| 23Q1 (17) | 38.41 | -2.64 | -0.9 | -23.80 | -61.03 | 0.08 | -36.65 | 67.44 | -119.76 | -36.65 | 67.55 | -119.7 | -1.01 | 71.47 | -119.17 | -0.93 | 71.73 | -119.02 | 0.03 | 0.0 | 0.0 | -20.62 | 79.15 | -110.26 | 7.50 | -2.98 | -1.83 | 64.79 | 396.71 | 603.46 | 35.21 | -59.51 | -68.8 | 32.38 | 21.82 | -8.89 |
| 22Q4 (16) | 39.45 | 0.77 | -13.58 | -14.78 | 50.13 | 88.39 | -112.56 | -197.4 | -285.47 | -112.94 | -197.83 | -287.95 | -3.54 | -212.74 | -275.25 | -3.29 | -212.67 | -275.94 | 0.03 | 0.0 | 0.0 | -98.89 | -175.19 | -215.28 | 7.73 | 6.77 | -8.74 | 13.04 | 150.7 | 106.22 | 86.96 | -30.71 | -71.92 | 26.58 | -25.73 | -79.23 |
| 22Q3 (15) | 39.15 | -8.44 | -3.93 | -29.64 | -7129.27 | -71.63 | 115.56 | 204.5 | 1386.86 | 115.44 | 204.5 | 1385.52 | 3.14 | 183.29 | 1051.52 | 2.92 | 183.67 | 1106.9 | 0.03 | 0.0 | 0.0 | 131.52 | 234.59 | 3922.02 | 7.24 | -8.82 | -12.56 | -25.73 | -6969.13 | -113.35 | 125.50 | 25.98 | 235.41 | 35.79 | 46.26 | 33.89 |
| 22Q2 (14) | 42.76 | 10.32 | 5.29 | -0.41 | 98.28 | 99.54 | -110.58 | -159.61 | 39.78 | -110.47 | -159.37 | 39.65 | -3.77 | -171.54 | 44.96 | -3.49 | -171.37 | 44.78 | 0.03 | 0.0 | 0.0 | -97.72 | -148.62 | 43.34 | 7.94 | 3.93 | -6.48 | 0.37 | 102.91 | -99.23 | 99.63 | -11.73 | 94.68 | 24.47 | -31.15 | -75.64 |
| 22Q1 (13) | 38.76 | -15.09 | 0.03 | -23.82 | 81.29 | -14.91 | 185.51 | 205.67 | 67.41 | 186.07 | 209.65 | 68.5 | 5.27 | 160.89 | 58.73 | 4.89 | 161.5 | 58.77 | 0.03 | 0.0 | 0.0 | 201.00 | 134.32 | 61.21 | 7.64 | -9.8 | -1.93 | -12.87 | 93.86 | 30.89 | 112.87 | -63.55 | -4.85 | 35.54 | -72.23 | 18.47 |
| 21Q4 (12) | 45.65 | 12.02 | 17.93 | -127.33 | -637.29 | 45.7 | 60.69 | 775.84 | 112.37 | 60.09 | 769.15 | 112.31 | 2.02 | 712.12 | 113.14 | 1.87 | 744.83 | 113.2 | 0.03 | 0.0 | 0.0 | 85.78 | 2523.24 | 118.02 | 8.47 | 2.29 | 1.44 | -209.67 | -208.81 | -538.73 | 309.67 | 434.11 | 493.1 | 127.99 | 378.83 | -48.64 |
| 21Q3 (11) | 40.75 | 0.34 | -1.14 | -17.27 | 80.73 | 14.55 | -8.98 | 95.11 | -106.87 | -8.98 | 95.09 | -106.88 | -0.33 | 95.18 | -108.17 | -0.29 | 95.41 | -107.77 | 0.03 | 0.0 | 0.0 | 3.27 | 101.9 | -97.74 | 8.28 | -2.47 | -0.48 | 192.68 | 294.63 | 1352.44 | -92.68 | -281.12 | -180.33 | 26.73 | -73.39 | -27.85 |
| 21Q2 (10) | 40.61 | 4.8 | 4.15 | -89.63 | -332.37 | -523.3 | -183.64 | -265.73 | -133.14 | -183.05 | -265.76 | -133.1 | -6.85 | -306.33 | -132.89 | -6.32 | -305.19 | -133.3 | 0.03 | 0.0 | 0.0 | -172.48 | -238.34 | -130.4 | 8.49 | 8.99 | -1.96 | 48.83 | 362.22 | 1992.04 | 51.17 | -56.86 | -50.14 | 100.46 | 234.87 | 0 |
| 21Q1 (9) | 38.75 | 0.1 | -1.72 | -20.73 | 91.16 | -357.62 | 110.81 | 122.59 | 374.76 | 110.43 | 122.62 | 367.45 | 3.32 | 121.6 | 271.13 | 3.08 | 121.74 | 279.07 | 0.03 | 0.0 | -25.0 | 124.68 | 126.19 | 556.04 | 7.79 | -6.71 | -31.49 | -18.62 | -138.96 | -264.65 | 118.62 | 127.19 | 33.75 | 30.00 | -87.96 | 0 |
| 20Q4 (8) | 38.71 | -6.09 | -4.25 | -234.48 | -1060.22 | -2154.62 | -490.56 | -475.16 | -1179.83 | -488.25 | -474.08 | -1130.78 | -15.37 | -480.45 | -778.29 | -14.17 | -479.89 | -808.33 | 0.03 | 0.0 | -25.0 | -476.11 | -428.69 | -1799.88 | 8.35 | 0.36 | -25.18 | 47.79 | 410.63 | 77.5 | 52.21 | -54.75 | -28.55 | 249.22 | 572.66 | 918.47 |
| 20Q3 (7) | 41.22 | 5.72 | 3.72 | -20.21 | -40.54 | -70.55 | 130.76 | -76.4 | 649.77 | 130.52 | -76.4 | 671.39 | 4.04 | -80.6 | 521.54 | 3.73 | -80.35 | 511.48 | 0.03 | 0.0 | 0.0 | 144.85 | -74.47 | 366.66 | 8.32 | -3.93 | -21.95 | -15.38 | -496.15 | 77.46 | 115.38 | 12.43 | -32.06 | 37.05 | 0 | 26.19 |
| 20Q2 (6) | 38.99 | -1.12 | -2.31 | -14.38 | -217.44 | -14.22 | 554.07 | 1473.84 | 1605.63 | 553.05 | 1439.43 | 1586.69 | 20.83 | 1173.71 | 1642.96 | 18.98 | 1203.49 | 1681.67 | 0.03 | -25.0 | 0.0 | 567.35 | 2175.16 | 2575.35 | 8.66 | -23.83 | -16.57 | -2.58 | -122.82 | -107.51 | 102.63 | 15.71 | 56.38 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 39.43 | -2.47 | 3.76 | -4.53 | 56.44 | 51.71 | -40.33 | -5.22 | -308.61 | -41.29 | -4.08 | -308.0 | -1.94 | -10.86 | -438.89 | -1.72 | -10.26 | -437.5 | 0.04 | 0.0 | 33.33 | -27.34 | -9.1 | -778.41 | 11.37 | 1.88 | 8.29 | 11.31 | -57.99 | -88.35 | 88.69 | 21.37 | 1407.74 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 40.43 | 1.74 | 0.0 | -10.40 | 12.24 | 0.0 | -38.33 | -319.78 | 0.0 | -39.67 | -334.46 | 0.0 | -1.75 | -369.23 | 0.0 | -1.56 | -355.74 | 0.0 | 0.04 | 33.33 | 0.0 | -25.06 | -180.73 | 0.0 | 11.16 | 4.69 | 0.0 | 26.92 | 139.45 | 0.0 | 73.08 | -56.97 | 0.0 | 24.47 | -16.66 | 0.0 |
| 19Q3 (3) | 39.74 | -0.43 | 0.0 | -11.85 | 5.88 | 0.0 | 17.44 | 147.39 | 0.0 | 16.92 | 145.48 | 0.0 | 0.65 | 148.15 | 0.0 | 0.61 | 150.83 | 0.0 | 0.03 | 0.0 | 0.0 | 31.04 | 235.43 | 0.0 | 10.66 | 2.7 | 0.0 | -68.25 | -298.56 | 0.0 | 169.84 | 158.81 | 0.0 | 29.36 | -0.51 | 0.0 |
| 19Q2 (2) | 39.91 | 5.03 | 0.0 | -12.59 | -34.22 | 0.0 | -36.80 | -272.85 | 0.0 | -37.20 | -267.59 | 0.0 | -1.35 | -275.0 | 0.0 | -1.20 | -275.0 | 0.0 | 0.03 | 0.0 | 0.0 | -22.92 | -668.73 | 0.0 | 10.38 | -1.14 | 0.0 | 34.38 | -64.58 | 0.0 | 65.62 | 1015.62 | 0.0 | 29.51 | 4.87 | 0.0 |
| 19Q1 (1) | 38.00 | 0.0 | 0.0 | -9.38 | 0.0 | 0.0 | -9.87 | 0.0 | 0.0 | -10.12 | 0.0 | 0.0 | -0.36 | 0.0 | 0.0 | -0.32 | 0.0 | 0.0 | 0.03 | 0.0 | 0.0 | 4.03 | 0.0 | 0.0 | 10.50 | 0.0 | 0.0 | 97.06 | 0.0 | 0.0 | 5.88 | 0.0 | 0.0 | 28.14 | 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) | 37.95 | -5.48 | -31.76 | 0 | 13.76 | 9.74 | -86.58 | 0 | -86.55 | 0 | -10.01 | 0 | -9.20 | 0 | 0.11 | 0.0 | -70.71 | 0 | 9.15 | 18.37 | 36.65 | 0 | 63.28 | -77.68 | 1.22 | -9.19 | 31.47 | 4.41 |
| 2022 (9) | 40.15 | -3.23 | -16.20 | 0 | 12.54 | 7.98 | 8.82 | 0 | 8.85 | 0 | 1.09 | 0 | 1.04 | 0 | 0.11 | -8.33 | 23.23 | 818.18 | 7.73 | -8.74 | -183.55 | 0 | 283.55 | 0 | 1.35 | -9.01 | 30.14 | -58.59 |
| 2021 (8) | 41.49 | 4.85 | -65.17 | 0 | 11.62 | -9.28 | -13.01 | 0 | -13.08 | 0 | -1.75 | 0 | -1.58 | 0 | 0.12 | -7.69 | 2.53 | -94.52 | 8.47 | 1.44 | 500.43 | 0 | -400.86 | 0 | 1.48 | -27.51 | 72.78 | -16.04 |
| 2020 (7) | 39.57 | 0.03 | -68.97 | 0 | 12.80 | 2.02 | 32.44 | 0 | 32.46 | 0 | 4.75 | 0 | 4.39 | 0 | 0.13 | -7.14 | 46.16 | 0 | 8.35 | -25.18 | -212.72 | 0 | 312.91 | 757.98 | 2.04 | -19.61 | 86.68 | 212.36 |
| 2019 (6) | 39.56 | 0.43 | -11.04 | 0 | 12.55 | 236.79 | -17.39 | 0 | -18.05 | 0 | -2.83 | 0 | -2.53 | 0 | 0.14 | -6.67 | -3.75 | 0 | 11.16 | 94.43 | 63.53 | 250.37 | 36.47 | -55.38 | 2.54 | -2.04 | 27.75 | -1.25 |
| 2018 (5) | 39.39 | 6.83 | -9.15 | 0 | 3.73 | -23.68 | -50.23 | 0 | -50.91 | 0 | -8.20 | 0 | -7.58 | 0 | 0.15 | 0.0 | -45.69 | 0 | 5.74 | -44.54 | 18.13 | 0 | 81.73 | -45.44 | 2.59 | 0 | 28.10 | 1.04 |
| 2017 (4) | 36.87 | -3.36 | -17.38 | 0 | 4.88 | -9.36 | 34.80 | 0 | 34.11 | 0 | 5.77 | 0 | 5.29 | 0 | 0.15 | -6.25 | 41.12 | 0 | 10.35 | 3.19 | -50.00 | 0 | 149.80 | 702.14 | 0.00 | 0 | 27.81 | -5.73 |
| 2016 (3) | 38.15 | 0.74 | -17.70 | 0 | 5.39 | -13.85 | -21.78 | 0 | -22.46 | 0 | -3.94 | 0 | -3.52 | 0 | 0.16 | 0.0 | -14.78 | 0 | 10.03 | 0.91 | 81.02 | -38.82 | 18.67 | 0 | 0.00 | 0 | 29.50 | -6.23 |
| 2015 (2) | 37.87 | -7.04 | -22.56 | 0 | 6.25 | 2.94 | -17.06 | 0 | -18.16 | 0 | -3.06 | 0 | -2.76 | 0 | 0.16 | 6.67 | -9.35 | 0 | 9.94 | 40.0 | 132.43 | -10.92 | -32.43 | 0 | 0.00 | 0 | 31.46 | -6.95 |
| 2014 (1) | 40.74 | 0 | -27.69 | 0 | 6.08 | -5.38 | -18.66 | 0 | -15.37 | 0 | -2.42 | 0 | -2.21 | 0 | 0.15 | 7.14 | -11.29 | 0 | 7.10 | -25.89 | 148.66 | -44.39 | -48.28 | 0 | 0.00 | 0 | 33.81 | -15.58 |
