- 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) | 16.37 | -23.5 | -30.13 | -7.27 | -745.35 | -323.01 | 2.90 | 137.7 | 320.29 | 3.66 | 119.16 | 5128.57 | 1.29 | 122.41 | 4200.0 | 0.72 | 75.61 | 300.0 | 0.14 | 7.69 | 0.0 | 8.63 | 23.64 | 42.64 | 148.14 | -5.88 | -8.92 | -252.73 | -256.79 | -154.16 | 352.73 | 106.47 | 196.2 | 23.46 | 4.87 | 23.08 |
| 23Q3 (19) | 21.40 | 0.19 | -6.71 | -0.86 | -145.71 | -118.98 | 1.22 | 79.41 | -81.49 | 1.67 | 72.16 | -67.13 | 0.58 | 70.59 | -70.85 | 0.41 | 28.12 | -52.87 | 0.13 | 0.0 | -7.14 | 6.98 | 5.44 | -39.67 | 157.40 | -3.92 | -8.95 | -70.83 | -41.67 | -202.71 | 170.83 | 13.89 | 450.46 | 22.37 | -10.84 | 16.63 |
| 23Q2 (18) | 21.36 | -5.4 | -2.06 | -0.35 | -192.11 | -111.4 | 0.68 | 0 | -66.0 | 0.97 | 2525.0 | 11.49 | 0.34 | 3500.0 | -2.86 | 0.32 | 100.0 | 28.0 | 0.13 | 18.18 | -7.14 | 6.62 | 3.6 | -1.78 | 163.82 | -4.63 | -9.47 | -50.00 | 0 | -132.14 | 150.00 | 0 | 381.25 | 25.09 | -1.06 | 34.82 |
| 23Q1 (17) | 22.58 | -3.63 | 15.85 | 0.38 | -88.34 | 108.33 | 0.00 | -100.0 | -100.0 | -0.04 | -157.14 | -106.78 | -0.01 | -133.33 | -105.88 | 0.16 | -11.11 | -5.88 | 0.11 | -21.43 | 10.0 | 6.39 | 5.62 | -5.05 | 171.78 | 5.61 | -5.07 | 0.00 | -100.0 | 100.0 | 0.00 | 100.0 | -100.0 | 25.36 | 33.05 | -2.72 |
| 22Q4 (16) | 23.43 | 2.14 | 25.09 | 3.26 | -28.04 | 302.48 | 0.69 | -89.53 | -70.76 | 0.07 | -98.62 | -95.36 | 0.03 | -98.49 | -95.31 | 0.18 | -79.31 | -47.06 | 0.14 | 0.0 | -6.67 | 6.05 | -47.71 | -12.95 | 162.65 | -5.91 | -11.81 | 466.67 | 576.67 | 787.72 | -366.67 | -1281.48 | -316.14 | 19.06 | -0.63 | 18.09 |
| 22Q3 (15) | 22.94 | 5.18 | 10.18 | 4.53 | 47.56 | -20.67 | 6.59 | 229.5 | 2.01 | 5.08 | 483.91 | 21.53 | 1.99 | 468.57 | 4.74 | 0.87 | 248.0 | 16.0 | 0.14 | 0.0 | -6.67 | 11.57 | 71.66 | 7.43 | 172.87 | -4.47 | -10.41 | 68.97 | -55.67 | -21.87 | 31.03 | 158.19 | 164.61 | 19.18 | 3.06 | 4.35 |
| 22Q2 (14) | 21.81 | 11.9 | 8.72 | 3.07 | 167.32 | -30.86 | 2.00 | 308.16 | -44.29 | 0.87 | 47.46 | -73.15 | 0.35 | 105.88 | -79.77 | 0.25 | 47.06 | -63.24 | 0.14 | 40.0 | -22.22 | 6.74 | 0.15 | -8.3 | 180.96 | 0.0 | -10.91 | 155.56 | 116.37 | 25.41 | -53.33 | -105.08 | -121.87 | 18.61 | -28.62 | 17.71 |
| 22Q1 (13) | 19.49 | 4.06 | 8.94 | -4.56 | -183.23 | -29.55 | 0.49 | -79.24 | 109.16 | 0.59 | -60.93 | 113.75 | 0.17 | -73.44 | 111.72 | 0.17 | -50.0 | 145.95 | 0.10 | -33.33 | -9.09 | 6.73 | -3.17 | 847.89 | 180.96 | -1.89 | -11.81 | -950.00 | -1300.0 | -1532.31 | 1050.00 | 518.95 | 2926.47 | 26.07 | 61.52 | 6.76 |
| 21Q4 (12) | 18.73 | -10.04 | 1014.88 | -1.61 | -128.2 | 92.88 | 2.36 | -63.47 | 112.9 | 1.51 | -63.88 | 109.69 | 0.64 | -66.32 | 111.35 | 0.34 | -54.67 | 119.1 | 0.15 | 0.0 | 25.0 | 6.95 | -35.47 | 156.64 | 184.44 | -4.41 | -4.52 | -67.86 | -176.87 | -154.85 | 169.64 | 1346.43 | 823.42 | 16.14 | -12.19 | -32.3 |
| 21Q3 (11) | 20.82 | 3.79 | 14.33 | 5.71 | 28.6 | 277.88 | 6.46 | 79.94 | 580.0 | 4.18 | 29.01 | 178.67 | 1.90 | 9.83 | 295.83 | 0.75 | 10.29 | 167.86 | 0.15 | -16.67 | 36.36 | 10.77 | 46.53 | 48.14 | 192.95 | -5.01 | 0.45 | 88.27 | -28.84 | 125.43 | 11.73 | 148.79 | -97.38 | 18.38 | 16.26 | -21.79 |
| 21Q2 (10) | 20.06 | 12.13 | -0.94 | 4.44 | 226.14 | 263.24 | 3.59 | 167.1 | 394.26 | 3.24 | 175.52 | 535.29 | 1.73 | 219.31 | 810.53 | 0.68 | 283.78 | 257.89 | 0.18 | 63.64 | 38.46 | 7.35 | 935.21 | 74.58 | 203.13 | -1.0 | 4.09 | 124.04 | 87.01 | -45.34 | -24.04 | -169.29 | 80.47 | 15.81 | -35.26 | 0 |
| 21Q1 (9) | 17.89 | 964.88 | 3.71 | -3.52 | 84.42 | 34.08 | -5.35 | 70.77 | 29.05 | -4.29 | 72.46 | 36.54 | -1.45 | 74.29 | 28.57 | -0.37 | 79.21 | 35.09 | 0.11 | -8.33 | 10.0 | 0.71 | 105.79 | 204.41 | 205.19 | 6.22 | 5.35 | 66.33 | -46.39 | -6.16 | 34.69 | 247.95 | 18.32 | 24.42 | 2.43 | -6.11 |
| 20Q4 (8) | 1.68 | -90.77 | -91.27 | -22.60 | -604.05 | -2012.15 | -18.30 | -2026.32 | -397.28 | -15.58 | -1138.67 | -414.19 | -5.64 | -1275.0 | -294.41 | -1.78 | -735.71 | -408.57 | 0.12 | 9.09 | -25.0 | -12.27 | -268.78 | -1852.86 | 193.17 | 0.57 | 5.9 | 123.72 | 135.65 | 319.05 | -23.45 | -105.25 | -132.83 | 23.84 | 1.45 | 36.78 |
| 20Q3 (7) | 18.21 | -10.07 | -23.42 | -3.21 | -18.01 | -164.59 | 0.95 | 177.87 | 15.85 | 1.50 | 194.12 | 38.89 | 0.48 | 152.63 | 6.67 | 0.28 | 47.37 | -6.67 | 0.11 | -15.38 | -21.43 | 7.27 | 72.68 | 27.1 | 192.08 | -1.57 | -0.62 | -347.06 | -252.94 | -156.94 | 447.06 | 463.24 | 187.74 | 23.50 | 0 | 31.07 |
| 20Q2 (6) | 20.25 | 17.39 | -13.28 | -2.72 | 49.06 | -243.16 | -1.22 | 83.82 | -162.56 | 0.51 | 107.54 | -58.2 | 0.19 | 109.36 | -62.75 | 0.19 | 133.33 | -38.71 | 0.13 | 30.0 | -7.14 | 4.21 | 719.12 | -39.42 | 195.14 | 0.19 | -0.12 | 226.92 | 221.07 | 131.46 | -123.08 | -519.72 | -6376.92 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 17.25 | -10.34 | -27.61 | -5.34 | -399.07 | -227.14 | -7.54 | -104.89 | -233.45 | -6.76 | -123.1 | -270.71 | -2.03 | -41.96 | -207.98 | -0.57 | -62.86 | -175.0 | 0.10 | -37.5 | -37.5 | -0.68 | -197.14 | -106.75 | 194.77 | 6.78 | -6.01 | 70.68 | 139.39 | -5.38 | 29.32 | -58.95 | 13.2 | 26.01 | 49.23 | 44.82 |
| 19Q4 (4) | 19.24 | -19.09 | 0.0 | -1.07 | -121.53 | 0.0 | -3.68 | -548.78 | 0.0 | -3.03 | -380.56 | 0.0 | -1.43 | -417.78 | 0.0 | -0.35 | -216.67 | 0.0 | 0.16 | 14.29 | 0.0 | 0.70 | -87.76 | 0.0 | 182.41 | -5.62 | 0.0 | 29.52 | -95.16 | 0.0 | 71.43 | 114.02 | 0.0 | 17.43 | -2.79 | 0.0 |
| 19Q3 (3) | 23.78 | 1.84 | 0.0 | 4.97 | 161.58 | 0.0 | 0.82 | -57.95 | 0.0 | 1.08 | -11.48 | 0.0 | 0.45 | -11.76 | 0.0 | 0.30 | -3.23 | 0.0 | 0.14 | 0.0 | 0.0 | 5.72 | -17.7 | 0.0 | 193.27 | -1.07 | 0.0 | 609.52 | 521.71 | 0.0 | -509.52 | -26085.71 | 0.0 | 17.93 | -9.12 | 0.0 |
| 19Q2 (2) | 23.35 | -2.01 | 0.0 | 1.90 | -54.76 | 0.0 | 1.95 | -65.49 | 0.0 | 1.22 | -69.19 | 0.0 | 0.51 | -72.87 | 0.0 | 0.31 | -59.21 | 0.0 | 0.14 | -12.5 | 0.0 | 6.95 | -31.05 | 0.0 | 195.37 | -5.72 | 0.0 | 98.04 | 31.25 | 0.0 | 1.96 | -92.43 | 0.0 | 19.73 | 9.86 | 0.0 |
| 19Q1 (1) | 23.83 | 0.0 | 0.0 | 4.20 | 0.0 | 0.0 | 5.65 | 0.0 | 0.0 | 3.96 | 0.0 | 0.0 | 1.88 | 0.0 | 0.0 | 0.76 | 0.0 | 0.0 | 0.16 | 0.0 | 0.0 | 10.08 | 0.0 | 0.0 | 207.22 | 0.0 | 0.0 | 74.70 | 0.0 | 0.0 | 25.90 | 0.0 | 0.0 | 17.96 | 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) | 20.40 | -7.52 | -2.05 | 0 | 3.57 | 1.07 | 1.22 | -52.71 | 1.59 | -8.09 | 2.26 | -10.67 | 1.69 | 14.19 | 0.55 | 1.85 | 7.16 | -8.79 | 148.14 | -8.92 | -167.74 | 0 | 267.74 | 1040.58 | 0.35 | 23.41 | 24.04 | 17.96 |
| 2022 (9) | 22.06 | 13.07 | 1.97 | 12.57 | 3.53 | 11.82 | 2.58 | 10.73 | 1.73 | 6.79 | 2.53 | -9.96 | 1.48 | 2.78 | 0.54 | -10.0 | 7.85 | 14.1 | 162.65 | -11.81 | 76.53 | 1.43 | 23.47 | -4.4 | 0.28 | 2.49 | 20.38 | 11.98 |
| 2021 (8) | 19.51 | 37.01 | 1.75 | 0 | 3.16 | -21.51 | 2.33 | 0 | 1.62 | 0 | 2.81 | 0 | 1.44 | 0 | 0.60 | 27.66 | 6.88 | 0 | 184.44 | -4.52 | 75.45 | -42.23 | 24.55 | 0 | 0.27 | -25.4 | 18.20 | -19.47 |
| 2020 (7) | 14.24 | -36.74 | -8.62 | 0 | 4.02 | 36.61 | -6.60 | 0 | -5.10 | 0 | -6.93 | 0 | -1.88 | 0 | 0.47 | -25.4 | -0.48 | 0 | 193.17 | 5.9 | 130.60 | -35.9 | -30.60 | 0 | 0.37 | -30.71 | 22.60 | 23.3 |
| 2019 (6) | 22.51 | -3.64 | 2.46 | -31.48 | 2.95 | 31.19 | 1.21 | -70.56 | 0.81 | -76.32 | 1.48 | -77.88 | 1.11 | -59.78 | 0.63 | -3.08 | 5.88 | -25.76 | 182.41 | -6.69 | 203.76 | 132.52 | -103.76 | 0 | 0.53 | -16.35 | 18.33 | 1.78 |
| 2018 (5) | 23.36 | 8.8 | 3.59 | 0 | 2.25 | -5.52 | 4.11 | 0 | 3.42 | 0 | 6.69 | 0 | 2.76 | 0 | 0.65 | 10.17 | 7.92 | 363.16 | 195.48 | -6.88 | 87.63 | 255.78 | 12.58 | -83.31 | 0.64 | 33.24 | 18.01 | -13.37 |
| 2017 (4) | 21.47 | -2.5 | -0.52 | 0 | 2.38 | -6.02 | -2.08 | 0 | -2.38 | 0 | -3.91 | 0 | -0.99 | 0 | 0.59 | -10.61 | 1.71 | -68.16 | 209.92 | 45.17 | 24.63 | -79.44 | 75.37 | 0 | 0.48 | 0 | 20.79 | 6.07 |
| 2016 (3) | 22.02 | -18.38 | 1.36 | -67.62 | 2.53 | -2.78 | 1.13 | -75.38 | 0.67 | -80.97 | 1.05 | -79.25 | 0.81 | -69.43 | 0.66 | 1.54 | 5.37 | -35.53 | 144.60 | 16.72 | 119.82 | 30.99 | -19.82 | 0 | 0.00 | 0 | 19.60 | 7.28 |
| 2015 (2) | 26.98 | 13.46 | 4.20 | -28.45 | 2.60 | 13.47 | 4.59 | -51.01 | 3.52 | -53.07 | 5.06 | -56.34 | 2.65 | -53.18 | 0.65 | -7.14 | 8.33 | -33.31 | 123.89 | 5.93 | 91.47 | 46.14 | 8.53 | -77.2 | 0.00 | 0 | 18.27 | 35.94 |
| 2014 (1) | 23.78 | 0 | 5.87 | 0 | 2.29 | -21.45 | 9.37 | 0 | 7.50 | 0 | 11.59 | 0 | 5.66 | 0 | 0.70 | 6.06 | 12.49 | 24.53 | 116.96 | -4.03 | 62.59 | -19.53 | 37.41 | 69.96 | 0.00 | 0 | 13.44 | -7.25 |
