- 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) | 11.07 | -30.68 | -37.35 | -8.64 | -122.11 | -892.66 | -3.85 | -172.1 | -420.83 | -5.89 | -244.01 | -590.83 | -0.95 | -230.14 | -451.85 | -0.21 | -142.0 | -175.0 | 0.07 | 0.0 | -22.22 | 12.22 | -39.38 | -7.91 | 136.29 | 0.69 | -8.11 | 211.11 | 374.44 | 181.48 | -122.22 | -169.08 | 0 | 27.53 | 11.1 | 35.02 |
| 23Q3 (19) | 15.97 | -23.7 | -35.19 | -3.89 | -175.24 | -156.87 | 5.34 | -24.36 | -37.62 | 4.09 | -29.97 | -46.18 | 0.73 | -46.72 | -66.67 | 0.50 | -34.21 | -50.0 | 0.07 | -30.0 | -36.36 | 20.16 | 7.98 | 8.91 | 135.36 | -5.3 | -13.59 | -76.92 | -205.77 | -195.38 | 176.92 | 548.72 | 814.1 | 24.78 | 26.95 | 2.99 |
| 23Q2 (18) | 20.93 | 8.33 | -9.51 | 5.17 | 205.92 | -33.2 | 7.06 | 18.26 | -54.97 | 5.84 | 14.29 | -30.81 | 1.37 | 14.17 | -47.51 | 0.76 | 13.43 | -30.91 | 0.10 | 11.11 | -9.09 | 18.67 | 7.24 | -28.47 | 142.94 | -3.52 | -18.01 | 72.73 | 176.36 | 48.05 | 27.27 | -62.99 | -46.39 | 19.52 | -10.7 | -4.41 |
| 23Q1 (17) | 19.32 | 9.34 | 18.82 | 1.69 | 55.05 | -9.63 | 5.97 | 397.5 | 198.5 | 5.11 | 325.83 | 400.98 | 1.20 | 344.44 | 287.1 | 0.67 | 139.29 | 168.0 | 0.09 | 0.0 | -10.0 | 17.41 | 31.2 | 40.06 | 148.16 | -0.11 | -22.1 | 26.32 | -64.91 | -69.3 | 73.68 | 0 | 0 | 21.86 | 7.21 | 3.06 |
| 22Q4 (16) | 17.67 | -28.29 | 31.87 | 1.09 | -84.06 | 123.0 | 1.20 | -85.98 | 102.48 | 1.20 | -84.21 | 102.48 | 0.27 | -87.67 | 102.11 | 0.28 | -72.0 | 106.57 | 0.09 | -18.18 | 0.0 | 13.27 | -28.31 | 135.93 | 148.32 | -5.32 | -27.49 | 75.00 | -7.0 | 692.86 | 0.00 | -100.0 | -100.0 | 20.39 | -15.25 | -15.25 |
| 22Q3 (15) | 24.64 | 6.53 | 237.53 | 6.84 | -11.63 | 163.04 | 8.56 | -45.41 | 343.52 | 7.60 | -9.95 | 826.83 | 2.19 | -16.09 | 1052.63 | 1.00 | -9.09 | 376.19 | 0.11 | 0.0 | 22.22 | 18.51 | -29.08 | 34.23 | 156.65 | -10.14 | -12.03 | 80.65 | 64.17 | 115.61 | 19.35 | -61.96 | -96.86 | 24.06 | 17.83 | 8.53 |
| 22Q2 (14) | 23.13 | 42.25 | 92.75 | 7.74 | 313.9 | 239.71 | 15.68 | 684.0 | 484.31 | 8.44 | 727.45 | 250.45 | 2.61 | 741.94 | 287.77 | 1.10 | 340.0 | 397.3 | 0.11 | 10.0 | 22.22 | 26.10 | 109.98 | 266.57 | 174.33 | -8.34 | 1.58 | 49.12 | -42.69 | -62.44 | 50.88 | 0 | 265.35 | 20.42 | -3.72 | 0.15 |
| 22Q1 (13) | 16.26 | 21.34 | 86.04 | 1.87 | 139.45 | 115.58 | 2.00 | 104.13 | 135.21 | 1.02 | 102.11 | 115.72 | 0.31 | 102.43 | 125.0 | 0.25 | 105.87 | 173.53 | 0.10 | 11.11 | 42.86 | 12.43 | 133.66 | 44.37 | 190.19 | -7.02 | 13.41 | 85.71 | 806.12 | -58.62 | 0.00 | -100.0 | 100.0 | 21.21 | -11.85 | -12.28 |
| 21Q4 (12) | 13.40 | 83.56 | 379.75 | -4.74 | 56.31 | 89.05 | -48.42 | -2608.81 | 17.86 | -48.42 | -6004.88 | 18.06 | -12.78 | -6826.32 | -68.82 | -4.26 | -2128.57 | -49.47 | 0.09 | 0.0 | 80.0 | -36.93 | -367.8 | 3.43 | 204.54 | 14.86 | 29.28 | 9.46 | 101.83 | -87.22 | 90.54 | -85.32 | 235.34 | 24.06 | 8.53 | -29.67 |
| 21Q3 (11) | 7.30 | -39.17 | 25.21 | -10.85 | -95.85 | 27.28 | 1.93 | 147.3 | 110.06 | 0.82 | 114.62 | 104.04 | 0.19 | 113.67 | 106.27 | 0.21 | 156.76 | 119.44 | 0.09 | 0.0 | 50.0 | 13.79 | 93.68 | 589.01 | 178.07 | 3.76 | 20.07 | -516.67 | -495.1 | -761.98 | 616.67 | 2104.17 | 2709.26 | 22.17 | 8.73 | -14.76 |
| 21Q2 (10) | 12.00 | 37.3 | -6.98 | -5.54 | 53.83 | 20.97 | -4.08 | 28.17 | -193.58 | -5.61 | 13.56 | -293.45 | -1.39 | -12.1 | -362.26 | -0.37 | -8.82 | -205.71 | 0.09 | 28.57 | 12.5 | 7.12 | -17.31 | -58.19 | 171.62 | 2.34 | 16.51 | 130.77 | -36.87 | 182.59 | -30.77 | 71.28 | -111.91 | 20.39 | -15.67 | -17.01 |
| 21Q1 (9) | 8.74 | 282.46 | -43.32 | -12.00 | 72.28 | -85.19 | -5.68 | 90.36 | -177.7 | -6.49 | 89.02 | -272.61 | -1.24 | 83.62 | -296.83 | -0.34 | 88.07 | -182.93 | 0.07 | 40.0 | 0.0 | 8.61 | 122.52 | -59.5 | 167.70 | 5.99 | 18.37 | 207.14 | 179.92 | 345.98 | -107.14 | -496.83 | -158.16 | 24.18 | -29.32 | -5.8 |
| 20Q4 (8) | -4.79 | -182.16 | -133.36 | -43.29 | -190.15 | -527.39 | -58.95 | -207.19 | -1143.67 | -59.09 | -190.94 | -500.51 | -7.57 | -149.83 | -408.05 | -2.85 | -163.89 | -562.79 | 0.05 | -16.67 | -16.67 | -38.24 | -1256.03 | -453.09 | 158.22 | 6.68 | 9.99 | 74.00 | -5.19 | -52.12 | 27.00 | 23.0 | 159.4 | 34.21 | 31.53 | 47.39 |
| 20Q3 (7) | 5.83 | -54.81 | -65.54 | -14.92 | -112.84 | -70.9 | -19.19 | -540.14 | -874.11 | -20.31 | -800.34 | -746.25 | -3.03 | -671.7 | -676.92 | -1.08 | -408.57 | -5500.0 | 0.06 | -25.0 | -14.29 | -2.82 | -116.56 | -123.7 | 148.31 | 0.69 | 0.23 | 78.05 | 149.29 | -83.03 | 21.95 | -91.5 | 106.1 | 26.01 | 5.86 | 8.28 |
| 20Q2 (6) | 12.90 | -16.34 | -30.68 | -7.01 | -8.18 | -69.73 | 4.36 | -40.36 | 125.01 | 2.90 | -22.87 | 116.64 | 0.53 | -15.87 | 119.7 | 0.35 | -14.63 | 136.84 | 0.08 | 14.29 | 33.33 | 17.03 | -19.9 | 658.36 | 147.30 | 3.97 | 3.86 | -158.33 | -88.02 | -762.12 | 258.33 | 40.24 | 239.52 | 24.57 | -4.29 | -0.97 |
| 20Q1 (5) | 15.42 | 7.38 | 19.17 | -6.48 | 6.09 | 33.54 | 7.31 | 254.22 | 341.25 | 3.76 | 138.21 | 224.09 | 0.63 | 142.28 | 234.04 | 0.41 | 195.35 | 2150.0 | 0.07 | 16.67 | 16.67 | 21.26 | 96.31 | 80.02 | 141.67 | -1.52 | 2.86 | -84.21 | -154.49 | -126.95 | 184.21 | 505.26 | 186.69 | 25.67 | 10.6 | 3.38 |
| 19Q4 (4) | 14.36 | -15.13 | 0.0 | -6.90 | 20.96 | 0.0 | -4.74 | -140.61 | 0.0 | -9.84 | -310.0 | 0.0 | -1.49 | -282.05 | 0.0 | -0.43 | -2250.0 | 0.0 | 0.06 | -14.29 | 0.0 | 10.83 | -8.99 | 0.0 | 143.85 | -2.78 | 0.0 | 154.55 | -66.4 | 0.0 | -45.45 | 87.37 | 0.0 | 23.21 | -3.37 | 0.0 |
| 19Q3 (3) | 16.92 | -9.08 | 0.0 | -8.73 | -111.38 | 0.0 | -1.97 | 88.7 | 0.0 | -2.40 | 86.23 | 0.0 | -0.39 | 85.5 | 0.0 | 0.02 | 102.11 | 0.0 | 0.07 | 16.67 | 0.0 | 11.90 | 490.16 | 0.0 | 147.97 | 4.33 | 0.0 | 460.00 | 1823.64 | 0.0 | -360.00 | -573.14 | 0.0 | 24.02 | -3.18 | 0.0 |
| 19Q2 (2) | 18.61 | 43.82 | 0.0 | -4.13 | 57.64 | 0.0 | -17.43 | -475.25 | 0.0 | -17.43 | -475.25 | 0.0 | -2.69 | -472.34 | 0.0 | -0.95 | -4650.0 | 0.0 | 0.06 | 0.0 | 0.0 | -3.05 | -125.83 | 0.0 | 141.83 | 2.98 | 0.0 | 23.91 | -92.35 | 0.0 | 76.09 | 135.81 | 0.0 | 24.81 | -0.08 | 0.0 |
| 19Q1 (1) | 12.94 | 0.0 | 0.0 | -9.75 | 0.0 | 0.0 | -3.03 | 0.0 | 0.0 | -3.03 | 0.0 | 0.0 | -0.47 | 0.0 | 0.0 | -0.02 | 0.0 | 0.0 | 0.06 | 0.0 | 0.0 | 11.81 | 0.0 | 0.0 | 137.73 | 0.0 | 0.0 | 312.50 | 0.0 | 0.0 | -212.50 | 0.0 | 0.0 | 24.83 | 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) | 17.37 | -15.76 | -0.64 | 0 | 9.72 | 18.62 | 4.17 | -42.16 | 2.88 | -39.75 | 2.40 | -55.39 | 1.78 | -32.32 | 0.34 | -17.07 | 17.26 | -2.92 | 136.29 | -8.11 | -15.22 | 0 | 115.22 | 216.85 | 0.52 | 0.98 | 22.98 | 6.49 |
| 2022 (9) | 20.62 | 96.57 | 4.58 | 0 | 8.19 | -13.63 | 7.21 | 0 | 4.78 | 0 | 5.38 | 0 | 2.63 | 0 | 0.41 | 17.14 | 17.78 | 0 | 148.32 | -27.49 | 63.64 | 16.9 | 36.36 | -20.19 | 0.51 | 112.18 | 21.58 | -4.6 |
| 2021 (8) | 10.49 | 21.27 | -8.04 | 0 | 9.49 | -20.54 | -14.70 | 0 | -15.57 | 0 | -15.04 | 0 | -4.82 | 0 | 0.35 | 34.62 | -2.61 | 0 | 204.54 | 29.28 | 54.44 | -57.14 | 45.56 | 0 | 0.24 | -70.31 | 22.62 | -16.25 |
| 2020 (7) | 8.65 | -45.15 | -15.47 | 0 | 11.94 | 11.14 | -12.12 | 0 | -13.83 | 0 | -9.02 | 0 | -3.03 | 0 | 0.26 | -3.7 | 3.29 | -57.33 | 158.22 | 9.99 | 127.03 | 17.0 | -27.93 | 0 | 0.81 | 3.21 | 27.01 | 11.47 |
| 2019 (6) | 15.77 | -3.9 | -7.38 | 0 | 10.74 | 10.0 | -6.83 | 0 | -8.14 | 0 | -5.44 | 0 | -1.46 | 0 | 0.27 | 12.5 | 7.71 | -35.8 | 143.85 | -6.2 | 108.57 | -62.62 | -8.57 | 0 | 0.79 | 10.34 | 24.23 | 2.97 |
| 2018 (5) | 16.41 | -24.55 | -5.93 | 0 | 9.77 | 16.09 | -2.04 | 0 | -3.23 | 0 | -1.87 | 0 | -0.07 | 0 | 0.24 | -36.84 | 12.01 | -67.03 | 153.36 | 23.91 | 290.48 | 26275.24 | -190.48 | 0 | 0.71 | 0 | 23.53 | -9.26 |
| 2017 (4) | 21.75 | 21.37 | 0.27 | 0 | 8.41 | -20.03 | 25.32 | 172.84 | 25.34 | 153.65 | 22.49 | 77.93 | 10.21 | 66.29 | 0.38 | -22.45 | 36.43 | 58.12 | 123.77 | -16.81 | 1.10 | 0 | 98.90 | -16.78 | 0.00 | 0 | 25.93 | -12.04 |
| 2016 (3) | 17.92 | 9.27 | -1.75 | 0 | 10.52 | 22.09 | 9.28 | 577.37 | 9.99 | 800.0 | 12.64 | 426.67 | 6.14 | 146.59 | 0.49 | -32.88 | 23.04 | 77.78 | 148.78 | -9.86 | -18.83 | 0 | 118.83 | 7.59 | 0.00 | 0 | 29.48 | 23.24 |
| 2015 (2) | 16.40 | 11.26 | -0.15 | 0 | 8.62 | 49.53 | 1.37 | 107.58 | 1.11 | 0 | 2.40 | 0 | 2.49 | 22.66 | 0.73 | -23.16 | 12.96 | 37.58 | 165.06 | -23.66 | -10.45 | 0 | 110.45 | 0 | 0.00 | 0 | 23.92 | 3.82 |
| 2014 (1) | 14.74 | 0 | 2.92 | 0 | 5.76 | -21.63 | 0.66 | 0 | -0.25 | 0 | -0.86 | 0 | 2.03 | 0 | 0.95 | 21.79 | 9.42 | 0 | 216.21 | -38.4 | 442.86 | 889.13 | -344.90 | 0 | 0.00 | 0 | 23.04 | -18.21 |
