- 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) | 21.76 | -10.93 | -54.73 | 14.73 | 1.87 | 101.88 | 14.68 | 3.6 | 102.1 | 14.00 | -0.71 | 102.2 | 4.68 | 609.09 | 1140.0 | 2.96 | 640.0 | 1445.45 | 0.21 | 600.0 | 0 | 15.03 | -3.65 | 102.15 | 52.38 | -25.63 | -55.89 | 100.66 | 0.66 | -11.92 | -0.66 | 0 | 95.39 | 1.20 | -67.83 | -99.73 |
| 23Q3 (19) | 24.43 | -0.57 | -20.55 | 14.46 | -29.15 | 61.2 | 14.17 | -30.23 | -75.57 | 14.10 | -27.77 | -75.64 | 0.66 | -91.97 | -28.26 | 0.40 | -90.72 | -14.89 | 0.03 | -86.36 | 200.0 | 15.60 | -24.31 | -74.0 | 70.43 | -7.51 | -28.19 | 100.00 | -0.8 | 550.0 | 0.00 | 100.0 | -100.0 | 3.73 | 603.77 | -59.41 |
| 23Q2 (18) | 24.57 | 18.01 | -19.92 | 20.41 | 22.22 | -11.07 | 20.31 | 22.57 | -15.59 | 19.52 | 3.94 | 756.14 | 8.22 | 31.1 | 8120.0 | 4.31 | 46.6 | 8520.0 | 0.22 | 37.5 | 1000.0 | 20.61 | 21.95 | -16.22 | 76.15 | -31.77 | -18.48 | 100.81 | 0.16 | 4.29 | -0.40 | 37.25 | -112.15 | 0.53 | -10.17 | -85.6 |
| 23Q1 (17) | 20.82 | -56.69 | -24.57 | 16.70 | 102.13 | 41650.0 | 16.57 | 102.37 | -98.39 | 18.78 | 102.95 | -98.17 | 6.27 | 1493.33 | -60.39 | 2.94 | 1436.36 | -65.08 | 0.16 | 0 | 1500.0 | 16.90 | 102.41 | -98.36 | 111.60 | -6.03 | 61.81 | 100.65 | -11.94 | 0 | -0.65 | 95.48 | -100.65 | 0.59 | -99.87 | -96.58 |
| 22Q4 (16) | 48.07 | 56.33 | 99.38 | -782.86 | -8827.54 | -7843.42 | -699.80 | -1306.34 | -5429.78 | -637.14 | -1200.6 | -5001.08 | -0.45 | -148.91 | -163.38 | -0.22 | -146.81 | -157.89 | 0.00 | -100.0 | -100.0 | -700.00 | -1266.67 | -4865.15 | 118.76 | 21.08 | 7.43 | 114.29 | 642.86 | 55.1 | -14.29 | -116.88 | -167.86 | 447.02 | 4764.2 | 4748.37 |
| 22Q3 (15) | 30.75 | 0.23 | -31.15 | 8.97 | -60.92 | -77.85 | 58.01 | 141.11 | -28.95 | 57.89 | 2439.04 | -28.79 | 0.92 | 820.0 | -96.91 | 0.47 | 840.0 | -96.96 | 0.01 | -50.0 | -94.74 | 60.00 | 143.9 | -26.95 | 98.08 | 5.0 | 20.92 | 15.38 | -84.08 | -69.0 | 84.62 | 2438.46 | 68.0 | 9.19 | 149.73 | 585.82 |
| 22Q2 (14) | 30.68 | 11.16 | 31.17 | 22.95 | 57275.0 | 30.92 | 24.06 | -97.66 | 33.44 | 2.28 | -99.78 | -85.93 | 0.10 | -99.37 | -99.27 | 0.05 | -99.41 | -99.09 | 0.02 | 100.0 | -94.12 | 24.60 | -97.62 | 35.16 | 93.41 | 35.44 | -14.29 | 96.67 | 0 | -0.52 | 3.33 | -96.67 | 17.92 | 3.68 | -78.67 | 621.57 |
| 22Q1 (13) | 27.60 | 14.48 | 39.18 | 0.04 | -99.6 | -99.68 | 1026.49 | 7717.9 | 8184.83 | 1026.39 | 7795.31 | 9864.95 | 15.83 | 2129.58 | 417.32 | 8.42 | 2115.79 | 725.49 | 0.01 | -66.67 | -90.0 | 1031.82 | 6923.96 | 7967.4 | 68.97 | -37.61 | -65.64 | 0.00 | -100.0 | -100.0 | 100.00 | 375.0 | 0 | 17.25 | 87.09 | 1715.79 |
| 21Q4 (12) | 24.11 | -46.01 | 93.5 | 10.11 | -75.04 | 29.45 | 13.13 | -83.92 | 44.92 | 13.00 | -84.01 | 48.06 | 0.71 | -97.62 | -70.42 | 0.38 | -97.54 | -54.22 | 0.03 | -84.21 | -66.67 | 14.69 | -82.11 | 50.51 | 110.55 | 36.3 | -47.47 | 73.68 | 48.46 | -14.04 | 21.05 | -58.2 | 47.37 | 9.22 | 588.06 | 643.55 |
| 21Q3 (11) | 44.66 | 90.94 | 47.25 | 40.50 | 131.03 | 87.5 | 81.65 | 352.86 | 247.59 | 81.30 | 401.54 | 247.44 | 29.78 | 116.27 | 1206.14 | 15.45 | 181.42 | 1987.84 | 0.19 | -44.12 | 533.33 | 82.13 | 351.26 | 265.02 | 81.11 | -25.57 | -58.34 | 49.63 | -48.92 | -46.11 | 50.37 | 1681.74 | 537.98 | 1.34 | 162.75 | -44.4 |
| 21Q2 (10) | 23.39 | 17.95 | 13.99 | 17.53 | 41.26 | 130.05 | 18.03 | 45.52 | 123.61 | 16.21 | 57.38 | 122.92 | 13.77 | 350.0 | 1450.0 | 5.49 | 438.24 | 2060.71 | 0.34 | 240.0 | 3300.0 | 18.20 | 42.3 | 133.6 | 108.98 | -45.71 | -42.08 | 97.17 | -2.83 | 24.94 | 2.83 | 0 | -87.28 | 0.51 | -46.32 | 0 |
| 21Q1 (9) | 19.83 | 59.15 | -8.11 | 12.41 | 58.9 | 118.02 | 12.39 | 36.75 | 112.48 | 10.30 | 17.31 | 110.25 | 3.06 | 27.5 | 440.0 | 1.02 | 22.89 | 508.0 | 0.10 | 11.11 | 0 | 12.79 | 31.05 | 121.32 | 200.73 | -4.63 | 19.43 | 100.00 | 16.67 | 50.0 | 0.00 | -100.0 | -100.0 | 0.95 | -23.39 | -96.09 |
| 20Q4 (8) | 12.46 | -58.92 | -79.46 | 7.81 | -63.84 | 126.38 | 9.06 | -61.43 | 132.66 | 8.78 | -62.48 | 131.4 | 2.40 | 5.26 | 927.59 | 0.83 | 12.16 | 4250.0 | 0.09 | 200.0 | 0 | 9.76 | -56.62 | 75.54 | 210.47 | 8.09 | 31.99 | 85.71 | -6.94 | 528.57 | 14.29 | 80.95 | -88.1 | 1.24 | -48.55 | -79.09 |
| 20Q3 (7) | 30.33 | 47.81 | 4.62 | 21.60 | 137.02 | 29.26 | 23.49 | 130.76 | 116.7 | 23.40 | 133.09 | 279.25 | 2.28 | 323.53 | 660.0 | 0.74 | 364.29 | 236.36 | 0.03 | 200.0 | 50.0 | 22.50 | 141.54 | 19.55 | 194.71 | 3.49 | 27.44 | 92.11 | 18.42 | -40.79 | 7.89 | -64.47 | 114.21 | 2.41 | 0 | -51.7 |
| 20Q2 (6) | 20.52 | -4.91 | -53.24 | -58.34 | 15.3 | -329.23 | -76.36 | 23.09 | -420.03 | -70.71 | 29.63 | -469.82 | -1.02 | -13.33 | -205.15 | -0.28 | -12.0 | -151.85 | 0.01 | 0 | -50.0 | -54.17 | 9.72 | -274.57 | 188.15 | 11.94 | 19.99 | 77.78 | 16.67 | -25.76 | 22.22 | -33.33 | 566.67 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 21.58 | -64.42 | -27.58 | -68.88 | -2096.52 | -1399.62 | -99.29 | -257.93 | -786.65 | -100.49 | -259.41 | -817.79 | -0.90 | -210.34 | -357.14 | -0.25 | -1150.0 | -189.29 | 0.00 | 0 | -100.0 | -60.00 | -1179.14 | -334.56 | 168.08 | 5.41 | 82.46 | 66.67 | 433.33 | 100.0 | 33.33 | -72.22 | -50.0 | 24.29 | 309.61 | 119.82 |
| 19Q4 (4) | 60.65 | 109.21 | 0.0 | 3.45 | -79.35 | 0.0 | -27.74 | -355.9 | 0.0 | -27.96 | -553.16 | 0.0 | -0.29 | -196.67 | 0.0 | -0.02 | -109.09 | 0.0 | 0.00 | -100.0 | 0.0 | 5.56 | -70.46 | 0.0 | 159.46 | 4.37 | 0.0 | -20.00 | -112.86 | 0.0 | 120.00 | 316.0 | 0.0 | 5.93 | 18.84 | 0.0 |
| 19Q3 (3) | 28.99 | -33.93 | 0.0 | 16.71 | -34.34 | 0.0 | 10.84 | -54.57 | 0.0 | 6.17 | -67.73 | 0.0 | 0.30 | -69.07 | 0.0 | 0.22 | -59.26 | 0.0 | 0.02 | 0.0 | 0.0 | 18.82 | -39.35 | 0.0 | 152.78 | -2.57 | 0.0 | 155.56 | 48.48 | 0.0 | -55.56 | -1066.67 | 0.0 | 4.99 | -19.9 | 0.0 |
| 19Q2 (2) | 43.88 | 47.25 | 0.0 | 25.45 | 380.19 | 0.0 | 23.86 | 65.01 | 0.0 | 19.12 | 36.57 | 0.0 | 0.97 | 177.14 | 0.0 | 0.54 | 92.86 | 0.0 | 0.02 | 100.0 | 0.0 | 31.03 | 21.31 | 0.0 | 156.81 | 70.22 | 0.0 | 104.76 | 214.29 | 0.0 | -4.76 | -107.14 | 0.0 | 6.23 | -43.62 | 0.0 |
| 19Q1 (1) | 29.80 | 0.0 | 0.0 | 5.30 | 0.0 | 0.0 | 14.46 | 0.0 | 0.0 | 14.00 | 0.0 | 0.0 | 0.35 | 0.0 | 0.0 | 0.28 | 0.0 | 0.0 | 0.01 | 0.0 | 0.0 | 25.58 | 0.0 | 0.0 | 92.12 | 0.0 | 0.0 | 33.33 | 0.0 | 0.0 | 66.67 | 0.0 | 0.0 | 11.05 | 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) | 22.64 | -25.11 | 17.35 | 116.88 | 0.06 | -93.49 | 17.25 | -92.44 | 17.37 | -91.97 | 19.27 | 12.1 | 10.64 | 33.0 | 0.60 | 1400.0 | 17.62 | -92.32 | 52.38 | -55.89 | 100.52 | 2832.87 | -0.52 | 0 | 0.00 | 0 | 0.89 | -92.36 |
| 2022 (9) | 30.23 | 5.63 | 8.00 | -64.57 | 0.92 | 1311.98 | 228.31 | 568.16 | 216.21 | 559.38 | 17.19 | -62.8 | 8.00 | -56.94 | 0.04 | -92.86 | 229.49 | 564.61 | 118.76 | 7.43 | 3.43 | -94.81 | 96.57 | 184.82 | 0.00 | 0 | 11.65 | 854.92 |
| 2021 (8) | 28.62 | 65.43 | 22.58 | 222.11 | 0.07 | -56.92 | 34.17 | 389.54 | 32.79 | 372.48 | 46.21 | 1624.25 | 18.58 | 1589.09 | 0.56 | 300.0 | 34.53 | 286.24 | 110.55 | -47.47 | 66.09 | -33.91 | 33.91 | 0 | 5.65 | 14874.04 | 1.22 | -52.34 |
| 2020 (7) | 17.30 | -53.41 | 7.01 | -58.47 | 0.15 | -64.85 | 6.98 | -48.07 | 6.94 | -29.61 | 2.68 | 101.5 | 1.10 | 7.84 | 0.14 | 133.33 | 8.94 | -62.97 | 210.47 | 31.99 | 100.00 | -20.51 | 0.00 | 0 | 0.04 | -44.26 | 2.56 | -61.45 |
| 2019 (6) | 37.13 | 56.87 | 16.88 | 21.44 | 0.43 | 318.1 | 13.44 | 10.34 | 9.86 | -15.87 | 1.33 | -80.41 | 1.02 | -75.12 | 0.06 | -80.65 | 24.14 | 66.02 | 159.46 | 96.43 | 125.81 | 9.96 | -25.81 | 0 | 0.07 | -69.93 | 6.64 | 297.6 |
| 2018 (5) | 23.67 | 14.51 | 13.90 | -4.34 | 0.10 | 56.7 | 12.18 | 6.65 | 11.72 | 7.23 | 6.79 | -44.8 | 4.10 | -28.7 | 0.31 | -26.19 | 14.54 | -3.07 | 81.18 | -13.52 | 114.41 | -9.92 | -14.41 | 0 | 0.23 | 0 | 1.67 | 21.9 |
| 2017 (4) | 20.67 | -24.01 | 14.53 | 124.23 | 0.07 | -81.38 | 11.42 | 0 | 10.93 | 0 | 12.30 | 0 | 5.75 | 6288.89 | 0.42 | 425.0 | 15.00 | 165.49 | 93.87 | -66.07 | 127.01 | 0 | -27.01 | 0 | 0.00 | 0 | 1.37 | -83.92 |
| 2016 (3) | 27.20 | -67.39 | 6.48 | 0 | 0.35 | -98.94 | -11.40 | 0 | -11.42 | 0 | -2.99 | 0 | 0.09 | 0 | 0.08 | 0 | 5.65 | 0 | 276.64 | 39.87 | -56.25 | 0 | 159.38 | 384.03 | 0.00 | 0 | 8.52 | -99.05 |
| 2015 (2) | 83.42 | 179.84 | -1696.76 | 0 | 33.33 | 28000.0 | -2545.18 | 0 | -2545.18 | 0 | -7.17 | 0 | -1.33 | 0 | 0.00 | 0 | -933.33 | 0 | 197.79 | 24.82 | 67.07 | -39.04 | 32.93 | 0 | 0.00 | 0 | 894.31 | 72021.77 |
| 2014 (1) | 29.81 | 0 | 22.75 | 0 | 0.12 | -94.74 | 20.70 | 0 | 20.70 | 0 | 34.64 | 0 | 12.79 | 0 | 0.57 | 1040.0 | 23.37 | 0 | 158.46 | -36.48 | 110.03 | 329.11 | -10.03 | 0 | 0.00 | 0 | 1.24 | -90.02 |
