- 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) | 18.95 | 42.37 | -32.47 | 13.24 | 115.28 | -35.54 | 13.26 | 119.54 | -33.47 | 10.61 | 106.02 | -38.21 | 14.14 | 427.61 | 1040.32 | 2.45 | 497.56 | 880.0 | 0.23 | 187.5 | 2200.0 | 13.35 | 113.94 | -36.12 | 403.85 | -28.62 | -8.42 | 99.69 | -2.15 | -0.31 | 0.00 | 100.0 | 100.0 | 0.96 | -48.11 | -73.03 |
| 23Q3 (19) | 13.31 | -69.77 | -58.11 | 6.15 | 121.23 | 100.16 | 6.04 | 132.72 | 100.15 | 5.15 | 129.94 | 100.14 | 2.68 | 615.38 | 355.24 | 0.41 | 685.71 | 295.24 | 0.08 | 0 | 0 | 6.24 | 141.35 | 100.31 | 565.77 | -0.5 | 39.39 | 101.89 | -32.08 | 6.74 | -1.89 | 96.86 | -141.51 | 1.85 | -90.87 | -99.93 |
| 23Q2 (18) | 44.03 | -28.85 | -24.68 | -28.97 | 99.89 | -23.96 | -18.46 | 99.93 | 29.03 | -17.20 | 99.92 | 18.52 | -0.52 | 71.43 | -79.31 | -0.07 | 77.42 | -16.67 | 0.00 | 0 | 0 | -15.09 | 0 | 18.52 | 568.61 | 21.69 | 60.2 | 150.00 | 57.5 | 75.0 | -60.00 | -2620.0 | -520.0 | 20.26 | -99.79 | -58.13 |
| 23Q1 (17) | 61.88 | 120.53 | 167.65 | -25202.50 | -122799.61 | -240581.87 | -26105.00 | -131083.44 | -259078.17 | -20896.90 | -121805.88 | -259688.82 | -1.82 | -246.77 | -371.64 | -0.31 | -224.0 | -272.22 | 0.00 | -100.0 | -100.0 | 0.00 | -100.0 | -100.0 | 467.27 | 5.96 | 52.83 | 95.24 | -4.76 | -10.05 | 2.38 | 164.29 | 140.48 | 9493.75 | 266578.37 | 156047.2 |
| 22Q4 (16) | 28.06 | -11.68 | 5.85 | 20.54 | 100.52 | 5.5 | 19.93 | 100.48 | 2.73 | 17.17 | 100.47 | 11.49 | 1.24 | 218.1 | -85.34 | 0.25 | 219.05 | -87.98 | 0.01 | 0 | -92.31 | 20.90 | 101.05 | 6.52 | 440.99 | 8.65 | 51.85 | 100.00 | 4.76 | 0.0 | -3.70 | -181.48 | -659.26 | 3.56 | -99.87 | 55.46 |
| 22Q3 (15) | 31.77 | -45.66 | 0.54 | -3955.64 | -16826.14 | -37.21 | -4161.65 | -15900.19 | -38.18 | -3656.77 | -17222.45 | -51.52 | -1.05 | -262.07 | -34.62 | -0.21 | -250.0 | -16.67 | 0.00 | 0 | 0 | -2000.00 | -10699.14 | -17.65 | 405.89 | 14.36 | 23.28 | 95.45 | 11.36 | 0.76 | 4.55 | -68.18 | -13.64 | 2753.01 | 5589.21 | 41.23 |
| 22Q2 (14) | 58.46 | 152.85 | 55.93 | -23.37 | -323.0 | -250.97 | -26.01 | -358.04 | -272.02 | -21.11 | -362.24 | -275.62 | -0.29 | -143.28 | -165.91 | -0.06 | -133.33 | -146.15 | 0.00 | -100.0 | -100.0 | -18.52 | -263.75 | -203.99 | 354.93 | 16.09 | 22.17 | 85.71 | -19.05 | -14.29 | 14.29 | 342.86 | 0 | 48.39 | 695.89 | 439.46 |
| 22Q1 (13) | 23.12 | -12.79 | -7.67 | 10.48 | -46.17 | -41.19 | 10.08 | -48.04 | -41.73 | 8.05 | -47.73 | -41.84 | 0.67 | -92.08 | -73.93 | 0.18 | -91.35 | -73.91 | 0.02 | -84.62 | -60.0 | 11.31 | -42.35 | -36.67 | 305.74 | 5.28 | 16.54 | 105.88 | 5.88 | 2.62 | -5.88 | -1105.88 | -85.29 | 6.08 | 165.5 | 196.59 |
| 21Q4 (12) | 26.51 | -16.11 | 19.74 | 19.47 | 100.68 | 25.53 | 19.40 | 100.64 | 25.65 | 15.40 | 100.64 | 21.84 | 8.46 | 1184.62 | 23.68 | 2.08 | 1255.56 | 20.23 | 0.13 | 0 | -7.14 | 19.62 | 101.15 | 24.97 | 290.41 | -11.79 | -4.26 | 100.00 | 5.56 | -0.64 | -0.49 | -109.27 | 23.9 | 2.29 | -99.88 | 11.71 |
| 21Q3 (11) | 31.60 | -15.71 | -7.25 | -2882.98 | -18723.9 | -90759.75 | -3011.67 | -20018.45 | -117285.6 | -2413.45 | -20178.62 | -117829.27 | -0.78 | -277.27 | -490.0 | -0.18 | -238.46 | -357.14 | 0.00 | -100.0 | -100.0 | -1700.00 | -9645.2 | -42600.0 | 329.23 | 13.32 | 11.52 | 94.74 | -5.26 | -21.05 | 5.26 | 0 | 126.32 | 1949.27 | 21630.99 | 28993.58 |
| 21Q2 (10) | 37.49 | 49.72 | 36.43 | 15.48 | -13.13 | 149.89 | 15.12 | -12.6 | 153.54 | 12.02 | -13.15 | 152.42 | 0.44 | -82.88 | 138.26 | 0.13 | -81.16 | 138.24 | 0.01 | -80.0 | 0.0 | 17.81 | -0.28 | 160.43 | 290.52 | 10.74 | -1.32 | 100.00 | -3.08 | -6.9 | 0.00 | 100.0 | 100.0 | 8.97 | 337.56 | 0 |
| 21Q1 (9) | 25.04 | 13.1 | -9.5 | 17.82 | 14.89 | 34.39 | 17.30 | 12.05 | 35.05 | 13.84 | 9.49 | 59.26 | 2.57 | -62.43 | 59.63 | 0.69 | -60.12 | 35.29 | 0.05 | -64.29 | 0.0 | 17.86 | 13.76 | 24.37 | 262.35 | -13.51 | 6.06 | 103.17 | 2.52 | -1.12 | -3.17 | -395.24 | 26.98 | 2.05 | 0.0 | 0.99 |
| 20Q4 (8) | 22.14 | -35.02 | -17.23 | 15.51 | 387.74 | -7.73 | 15.44 | 500.78 | -6.76 | 12.64 | 516.59 | -1.17 | 6.84 | 3320.0 | -12.98 | 1.73 | 2371.43 | -25.75 | 0.14 | 600.0 | -22.22 | 15.70 | 292.5 | -7.32 | 303.32 | 2.74 | 15.95 | 100.64 | -16.13 | -0.41 | -0.64 | 96.79 | 59.4 | 2.05 | -69.4 | 33.12 |
| 20Q3 (7) | 34.07 | 23.98 | -8.86 | 3.18 | 110.25 | 367.65 | 2.57 | 109.1 | 511.9 | 2.05 | 108.94 | -42.42 | 0.20 | 117.39 | 5.26 | 0.07 | 120.59 | -12.5 | 0.02 | 100.0 | 0.0 | 4.00 | 113.57 | 94.17 | 295.22 | 0.27 | 32.15 | 120.00 | 11.72 | 0 | -20.00 | -80.0 | 0 | 6.70 | 0 | -20.9 |
| 20Q2 (6) | 27.48 | -0.69 | -20.72 | -31.03 | -334.01 | -425.95 | -28.24 | -320.45 | -446.93 | -22.93 | -363.87 | -796.96 | -1.15 | -171.43 | -579.17 | -0.34 | -166.67 | -342.86 | 0.01 | -80.0 | -66.67 | -29.47 | -305.22 | -373.12 | 294.42 | 19.03 | 72.88 | 107.41 | 2.93 | -9.12 | -11.11 | -155.56 | 38.89 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 27.67 | 3.44 | -5.24 | 13.26 | -21.12 | 267.31 | 12.81 | -22.64 | 649.12 | 8.69 | -32.06 | 142.06 | 1.61 | -79.52 | 570.83 | 0.51 | -78.11 | 218.75 | 0.05 | -72.22 | 66.67 | 14.36 | -15.23 | 210.82 | 247.35 | -5.44 | 98.2 | 104.35 | 3.26 | -58.26 | -4.35 | -175.36 | 95.65 | 2.03 | 31.82 | -55.97 |
| 19Q4 (4) | 26.75 | -28.44 | 0.0 | 16.81 | 2372.06 | 0.0 | 16.56 | 3842.86 | 0.0 | 12.79 | 259.27 | 0.0 | 7.86 | 4036.84 | 0.0 | 2.33 | 2812.5 | 0.0 | 0.18 | 800.0 | 0.0 | 16.94 | 722.33 | 0.0 | 261.59 | 17.09 | 0.0 | 101.05 | 0 | 0.0 | -1.58 | 0 | 0.0 | 1.54 | -81.82 | 0.0 |
| 19Q3 (3) | 37.38 | 7.85 | 0.0 | 0.68 | -92.86 | 0.0 | 0.42 | -94.84 | 0.0 | 3.56 | 8.21 | 0.0 | 0.19 | -20.83 | 0.0 | 0.08 | -42.86 | 0.0 | 0.02 | -33.33 | 0.0 | 2.06 | -80.91 | 0.0 | 223.40 | 31.18 | 0.0 | 0.00 | -100.0 | 0.0 | 0.00 | 100.0 | 0.0 | 8.47 | 104.59 | 0.0 |
| 19Q2 (2) | 34.66 | 18.7 | 0.0 | 9.52 | 163.71 | 0.0 | 8.14 | 376.02 | 0.0 | 3.29 | -8.36 | 0.0 | 0.24 | 0.0 | 0.0 | 0.14 | -12.5 | 0.0 | 0.03 | 0.0 | 0.0 | 10.79 | 133.55 | 0.0 | 170.30 | 36.46 | 0.0 | 118.18 | -52.73 | 0.0 | -18.18 | 81.82 | 0.0 | 4.14 | -10.2 | 0.0 |
| 19Q1 (1) | 29.20 | 0.0 | 0.0 | 3.61 | 0.0 | 0.0 | 1.71 | 0.0 | 0.0 | 3.59 | 0.0 | 0.0 | 0.24 | 0.0 | 0.0 | 0.16 | 0.0 | 0.0 | 0.03 | 0.0 | 0.0 | 4.62 | 0.0 | 0.0 | 124.80 | 0.0 | 0.0 | 250.00 | 0.0 | 0.0 | -100.00 | 0.0 | 0.0 | 4.61 | 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) | 17.88 | -36.23 | 9.55 | 77.51 | 0.00 | 0 | 9.66 | 121.05 | 7.77 | 126.53 | 13.77 | 2233.9 | 2.69 | 1482.35 | 0.34 | 750.0 | 9.88 | 47.68 | 403.85 | -8.42 | 99.09 | -22.93 | 1.22 | 0 | 0.00 | 0 | 1.94 | -85.04 |
| 2022 (9) | 28.04 | 5.02 | 5.38 | -69.55 | 0.61 | 353.8 | 4.37 | -74.93 | 3.43 | -75.23 | 0.59 | -94.38 | 0.17 | -93.73 | 0.04 | -78.95 | 6.69 | -62.87 | 440.99 | 51.85 | 128.57 | 26.62 | -21.43 | 0 | 0.00 | 0 | 12.97 | 284.87 |
| 2021 (8) | 26.70 | 7.06 | 17.67 | 60.34 | 0.13 | -44.91 | 17.43 | 58.89 | 13.85 | 61.23 | 10.50 | 43.84 | 2.71 | 37.56 | 0.19 | -13.64 | 18.02 | 56.02 | 290.41 | -4.26 | 101.54 | 1.54 | -1.54 | 0 | 0.00 | 0 | 3.37 | 22.55 |
| 2020 (7) | 24.94 | -12.09 | 11.02 | -21.12 | 0.24 | -8.21 | 10.97 | -18.56 | 8.59 | -18.42 | 7.30 | -10.76 | 1.97 | -32.99 | 0.22 | -18.52 | 11.55 | -20.01 | 303.32 | 15.95 | 100.00 | -3.79 | -0.55 | 0 | 0.01 | -10.32 | 2.75 | 10.44 |
| 2019 (6) | 28.37 | -13.48 | 13.97 | -43.74 | 0.26 | 383.71 | 13.47 | -44.29 | 10.53 | -53.69 | 8.18 | -64.03 | 2.94 | -74.48 | 0.27 | -44.9 | 14.44 | -42.31 | 261.59 | 111.42 | 103.94 | 1.42 | -3.94 | 0 | 0.01 | -37.54 | 2.49 | 23.27 |
| 2018 (5) | 32.79 | 24.77 | 24.83 | 15.87 | 0.05 | 0 | 24.18 | 14.33 | 22.74 | 12.19 | 22.74 | -66.16 | 11.52 | -48.98 | 0.49 | -55.45 | 25.03 | 16.09 | 123.73 | 58.45 | 102.49 | 1.24 | -2.71 | 0 | 0.02 | 0 | 2.02 | 281.13 |
| 2017 (4) | 26.28 | 7.0 | 21.43 | 2835.62 | 0.00 | 0 | 21.15 | 0 | 20.27 | 0 | 67.19 | 0 | 22.58 | 45060.0 | 1.10 | 2650.0 | 21.56 | 1914.95 | 78.09 | -82.76 | 101.23 | 0 | -1.35 | 0 | 0.00 | 0 | 0.53 | -91.77 |
| 2016 (3) | 24.56 | -3.0 | 0.73 | -96.52 | 0.00 | 0 | -2.18 | 0 | -1.38 | 0 | -0.30 | 0 | 0.05 | -98.98 | 0.04 | -82.61 | 1.07 | -94.91 | 452.90 | 15.87 | -25.00 | 0 | 125.00 | 22650.0 | 0.00 | 0 | 6.44 | 350.35 |
| 2015 (2) | 25.32 | -42.66 | 20.95 | 53.93 | 0.00 | 0 | 21.08 | 54.43 | 21.11 | 19.6 | 24.16 | 154.85 | 4.88 | 218.95 | 0.23 | 155.56 | 21.04 | 54.14 | 390.86 | -2.66 | 99.45 | -0.55 | 0.55 | 0 | 0.00 | 0 | 1.43 | -67.79 |
| 2014 (1) | 44.16 | 0 | 13.61 | 0 | 0.00 | 0 | 13.65 | 0 | 17.65 | 0 | 9.48 | 0 | 1.53 | 0 | 0.09 | -71.88 | 13.65 | -62.76 | 401.54 | -46.25 | 100.00 | 10.0 | 0.00 | 0 | 0.00 | 0 | 4.44 | 65.67 |
