- 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) | 84.45 | -1.26 | 2.49 | -22.78 | -193.94 | -333.08 | -140.13 | -483.63 | -250.59 | -143.46 | -435.7 | -206.15 | -24.56 | -626.63 | -324.91 | -5.09 | -1239.47 | -346.49 | 0.04 | 33.33 | 0.0 | -83.23 | -298.78 | -485.86 | 377.77 | 25.53 | 51.21 | 16.28 | -49.16 | 22.91 | 83.72 | 24.06 | -3.8 | 17.93 | 2.52 | -17.45 |
| 23Q3 (19) | 85.53 | 4.13 | 1.88 | -7.75 | -5.87 | -135.56 | -24.01 | 13.38 | -237.22 | -26.78 | 41.25 | -57.16 | -3.38 | 43.29 | -61.72 | -0.38 | 64.81 | -375.0 | 0.03 | -25.0 | -25.0 | 41.87 | 25.21 | -23.2 | 300.95 | 13.99 | 25.78 | 32.02 | 20.91 | -30.96 | 67.49 | -8.2 | 25.86 | 17.49 | -6.27 | 3.74 |
| 23Q2 (18) | 82.14 | 1.27 | 1.51 | -7.32 | -163.54 | -489.36 | -27.72 | -4500.0 | -123.01 | -45.58 | -11787.18 | -213.26 | -5.96 | -10033.33 | -227.47 | -1.08 | -303.77 | 0 | 0.04 | 0.0 | 33.33 | 33.44 | -36.77 | -28.13 | 264.02 | 0.32 | 1.67 | 26.48 | -98.48 | 275.62 | 73.52 | 104.47 | -36.12 | 18.66 | 45.33 | 35.81 |
| 23Q1 (17) | 81.11 | -1.57 | 1.12 | 11.52 | 319.01 | 61.34 | 0.63 | 101.58 | 115.99 | 0.39 | 100.83 | 105.57 | 0.06 | 101.04 | 105.61 | 0.53 | 146.49 | 194.44 | 0.04 | 0.0 | 0.0 | 52.89 | 145.2 | 23.43 | 263.17 | 5.34 | 2.89 | 1742.86 | 13060.35 | 1059.55 | -1642.86 | -1987.76 | -679.14 | 12.84 | -40.88 | 9.56 |
| 22Q4 (16) | 82.40 | -1.85 | 3.1 | -5.26 | -59.88 | -151.32 | -39.97 | -461.38 | -1130.15 | -46.86 | -175.0 | -631.05 | -5.78 | -176.56 | -440.19 | -1.14 | -1325.0 | -1240.0 | 0.04 | 0.0 | -20.0 | 21.57 | -60.44 | -46.96 | 249.83 | 4.41 | 4.39 | 13.24 | -71.44 | -95.01 | 87.03 | 62.29 | 152.62 | 21.72 | 28.83 | 44.22 |
| 22Q3 (15) | 83.95 | 3.74 | 15.33 | -3.29 | -275.0 | -171.9 | -7.12 | 42.72 | 41.5 | -17.04 | -17.11 | -14.21 | -2.09 | -14.84 | -6.63 | -0.08 | 0 | 69.23 | 0.04 | 33.33 | -20.0 | 54.52 | 17.17 | 54.05 | 239.27 | -7.86 | 36.96 | 46.38 | 407.55 | 363.77 | 53.62 | -53.4 | -40.42 | 16.86 | 22.71 | 24.8 |
| 22Q2 (14) | 80.92 | 0.89 | 14.96 | 1.88 | -73.67 | -84.41 | -12.43 | -215.48 | -302.44 | -14.55 | -107.86 | -5488.89 | -1.82 | -70.09 | -4650.0 | 0.00 | -100.0 | -100.0 | 0.03 | -25.0 | -50.0 | 46.53 | 8.59 | 0.89 | 259.69 | 1.53 | 46.49 | -15.08 | 91.7 | -107.69 | 115.08 | -59.43 | 219.62 | 13.74 | 17.24 | 33.92 |
| 22Q1 (13) | 80.21 | 0.36 | 20.94 | 7.14 | -30.34 | -29.93 | -3.94 | -201.55 | -174.9 | -7.00 | -9.2 | -1129.41 | -1.07 | 0.0 | -991.67 | 0.18 | 80.0 | -63.27 | 0.04 | -20.0 | -33.33 | 42.85 | 5.36 | 4.64 | 255.78 | 6.88 | 47.8 | -181.63 | -168.44 | -193.86 | 283.67 | 271.52 | 403.37 | 11.72 | -22.18 | 23.76 |
| 21Q4 (12) | 79.92 | 9.8 | 16.57 | 10.25 | 947.11 | -5.96 | 3.88 | 131.88 | 6.89 | -6.41 | 57.04 | -153.78 | -1.07 | 45.41 | -145.34 | 0.10 | 138.46 | -92.13 | 0.05 | 0.0 | -28.57 | 40.67 | 14.92 | 26.3 | 239.32 | 36.99 | 28.45 | 265.38 | 2553.85 | -11.04 | -165.38 | -283.76 | 16.61 | 15.06 | 11.47 | 58.36 |
| 21Q3 (11) | 72.79 | 3.41 | 9.54 | -1.21 | -110.03 | -138.05 | -12.17 | -298.21 | -197.56 | -14.92 | -5625.93 | -87.2 | -1.96 | -5000.0 | -67.52 | -0.26 | -155.32 | -471.43 | 0.05 | -16.67 | 0.0 | 35.39 | -23.27 | -11.75 | 174.70 | -1.45 | -7.64 | 10.00 | -94.9 | 112.63 | 90.00 | 193.55 | -49.77 | 13.51 | 31.68 | 38.28 |
| 21Q2 (10) | 70.39 | 6.14 | 5.45 | 12.06 | 18.35 | 1622.86 | 6.14 | 16.73 | 179.12 | 0.27 | -60.29 | 103.24 | 0.04 | -66.67 | 103.7 | 0.47 | -4.08 | 370.0 | 0.06 | 0.0 | 20.0 | 46.12 | 12.63 | 13.21 | 177.27 | 2.43 | -9.14 | 196.20 | 1.39 | 2160.13 | -96.20 | -2.88 | -188.8 | 10.26 | 8.34 | 0 |
| 21Q1 (9) | 66.32 | -3.27 | 0.53 | 10.19 | -6.51 | 307.6 | 5.26 | 44.9 | 145.62 | 0.68 | -94.3 | 104.74 | 0.12 | -94.92 | 108.33 | 0.49 | -61.42 | 1325.0 | 0.06 | -14.29 | 50.0 | 40.95 | 27.17 | -16.39 | 173.06 | -7.11 | -3.62 | 193.51 | -35.14 | 997.17 | -93.51 | 52.85 | -176.92 | 9.47 | -0.42 | 0 |
| 20Q4 (8) | 68.56 | 3.18 | -7.35 | 10.90 | 242.77 | -55.87 | 3.63 | 188.75 | -83.11 | 11.92 | 249.56 | -27.8 | 2.36 | 301.71 | -34.26 | 1.27 | 1714.29 | -25.29 | 0.07 | 40.0 | 0.0 | 32.20 | -19.7 | -34.61 | 186.31 | -1.5 | -4.2 | 298.33 | 476.84 | 159.94 | -198.33 | -210.7 | -1221.16 | 9.51 | -2.66 | 0 |
| 20Q3 (7) | 66.45 | -0.45 | -9.13 | 3.18 | 354.29 | -74.17 | -4.09 | 47.29 | -210.24 | -7.97 | 4.32 | -79800.0 | -1.17 | -8.33 | 0 | 0.07 | -30.0 | -85.42 | 0.05 | 0.0 | 0.0 | 40.10 | -1.57 | -7.79 | 189.15 | -3.05 | -0.12 | -79.17 | -731.25 | -124.07 | 179.17 | 65.38 | 177.64 | 9.77 | 0 | -8.52 |
| 20Q2 (6) | 66.75 | 1.18 | -12.11 | 0.70 | -72.0 | -96.09 | -7.76 | 32.7 | -174.83 | -8.33 | 41.91 | -252.84 | -1.08 | 25.0 | -217.39 | 0.10 | 350.0 | -87.65 | 0.05 | 25.0 | -16.67 | 40.74 | -16.82 | -15.69 | 195.11 | 8.66 | -0.6 | -9.52 | 55.84 | -105.54 | 108.33 | -10.89 | 249.07 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 65.97 | -10.85 | -7.53 | 2.50 | -89.88 | -87.77 | -11.53 | -153.65 | -167.58 | -14.34 | -186.86 | -226.23 | -1.44 | -140.11 | -167.92 | -0.04 | -102.35 | -102.88 | 0.04 | -42.86 | -42.86 | 48.98 | -0.53 | -2.04 | 179.56 | -7.67 | -10.54 | -21.57 | -118.79 | -118.01 | 121.57 | 909.8 | 715.95 | 0.00 | 0 | -100.0 |
| 19Q4 (4) | 74.00 | 1.19 | 0.0 | 24.70 | 100.65 | 0.0 | 21.49 | 479.25 | 0.0 | 16.51 | 165000.0 | 0.0 | 3.59 | 0 | 0.0 | 1.70 | 254.17 | 0.0 | 0.07 | 40.0 | 0.0 | 49.24 | 13.22 | 0.0 | 194.48 | 2.7 | 0.0 | 114.77 | -65.1 | 0.0 | -15.01 | 93.49 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 73.13 | -3.71 | 0.0 | 12.31 | -31.15 | 0.0 | 3.71 | -64.22 | 0.0 | 0.01 | -99.82 | 0.0 | 0.00 | -100.0 | 0.0 | 0.48 | -40.74 | 0.0 | 0.05 | -16.67 | 0.0 | 43.49 | -10.0 | 0.0 | 189.37 | -3.53 | 0.0 | 328.85 | 91.13 | 0.0 | -230.77 | -217.55 | 0.0 | 10.68 | -10.63 | 0.0 |
| 19Q2 (2) | 75.95 | 6.46 | 0.0 | 17.88 | -12.52 | 0.0 | 10.37 | -39.21 | 0.0 | 5.45 | -52.02 | 0.0 | 0.92 | -56.6 | 0.0 | 0.81 | -41.73 | 0.0 | 0.06 | -14.29 | 0.0 | 48.32 | -3.36 | 0.0 | 196.29 | -2.21 | 0.0 | 172.05 | 43.69 | 0.0 | -72.67 | -268.2 | 0.0 | 11.95 | 31.03 | 0.0 |
| 19Q1 (1) | 71.34 | 0.0 | 0.0 | 20.44 | 0.0 | 0.0 | 17.06 | 0.0 | 0.0 | 11.36 | 0.0 | 0.0 | 2.12 | 0.0 | 0.0 | 1.39 | 0.0 | 0.0 | 0.07 | 0.0 | 0.0 | 50.00 | 0.0 | 0.0 | 200.72 | 0.0 | 0.0 | 119.74 | 0.0 | 0.0 | -19.74 | 0.0 | 0.0 | 9.12 | 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) | 83.21 | 1.8 | -6.28 | 0 | 40.52 | 2.8 | -48.73 | 0 | -54.55 | 0 | -33.81 | 0 | -6.18 | 0 | 0.15 | -6.25 | 9.90 | -76.26 | 377.77 | 51.21 | 12.89 | 0 | 87.11 | -16.69 | 6.56 | -13.18 | 16.60 | 6.14 |
| 2022 (9) | 81.74 | 13.18 | 0.67 | -91.94 | 39.42 | 35.22 | -14.79 | 0 | -20.07 | 0 | -10.89 | 0 | -1.02 | 0 | 0.16 | -20.0 | 41.71 | 1.68 | 249.83 | 4.39 | -4.56 | 0 | 104.56 | 0 | 7.56 | 11.54 | 15.64 | 30.77 |
| 2021 (8) | 72.22 | 7.55 | 8.31 | 61.67 | 29.15 | -6.07 | 1.51 | 0 | -4.50 | 0 | -2.81 | 0 | 0.74 | -45.59 | 0.20 | 5.26 | 41.02 | 3.98 | 239.32 | 28.45 | 550.00 | 0 | -450.00 | 0 | 6.78 | -6.57 | 11.96 | 10.03 |
| 2020 (7) | 67.15 | -8.71 | 5.14 | -73.46 | 31.04 | 28.52 | -3.39 | 0 | -2.15 | 0 | -1.19 | 0 | 1.36 | -71.49 | 0.19 | -32.14 | 39.45 | -17.88 | 186.31 | -4.2 | -151.85 | 0 | 252.47 | 0 | 7.26 | 7.17 | 10.87 | 7.94 |
| 2019 (6) | 73.56 | -5.28 | 19.37 | 27.94 | 24.15 | 192.05 | 13.98 | 18.88 | 9.09 | 19.61 | 6.44 | 28.54 | 4.77 | 67.96 | 0.28 | -6.67 | 48.04 | 113.99 | 194.48 | 72.15 | 138.54 | 7.66 | -38.54 | 0 | 6.77 | -22.93 | 10.07 | -11.82 |
| 2018 (5) | 77.66 | -1.41 | 15.14 | 3.27 | 8.27 | 15.65 | 11.76 | 15.41 | 7.60 | 35.47 | 5.01 | 42.33 | 2.84 | 42.0 | 0.30 | 11.11 | 22.45 | 15.72 | 112.97 | -10.06 | 128.68 | -10.53 | -28.68 | 0 | 8.78 | 5.06 | 11.42 | 2.06 |
| 2017 (4) | 78.77 | -4.13 | 14.66 | 7.24 | 7.15 | -6.04 | 10.19 | -4.59 | 5.61 | 16.63 | 3.52 | 15.03 | 2.00 | 15.61 | 0.27 | 0.0 | 19.40 | -4.81 | 125.60 | -4.6 | 143.83 | 12.43 | -43.83 | 0 | 8.36 | 0 | 11.19 | -13.46 |
| 2016 (3) | 82.16 | -2.11 | 13.67 | -23.97 | 7.61 | 5.06 | 10.68 | -4.9 | 4.81 | 8.33 | 3.06 | 3.73 | 1.73 | 5.49 | 0.27 | -3.57 | 20.38 | 0.15 | 131.65 | -9.62 | 127.92 | -20.16 | -27.92 | 0 | 0.00 | 0 | 12.93 | 1.73 |
| 2015 (2) | 83.93 | -0.59 | 17.98 | -11.82 | 7.24 | -0.41 | 11.23 | -43.68 | 4.44 | -68.58 | 2.95 | -70.62 | 1.64 | -64.11 | 0.28 | -3.45 | 20.35 | -30.21 | 145.67 | 6.75 | 160.22 | 56.71 | -60.10 | 0 | 0.00 | 0 | 12.71 | 6.27 |
| 2014 (1) | 84.43 | 0 | 20.39 | 0 | 7.27 | -14.38 | 19.94 | 0 | 14.13 | 0 | 10.04 | 0 | 4.57 | 0 | 0.29 | -3.33 | 29.16 | -8.42 | 136.46 | -7.9 | 102.24 | 37.6 | -2.24 | 0 | 0.00 | 0 | 11.96 | -6.56 |
