- 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) | 9.57 | 5.28 | 165.1 | 1.19 | 146.67 | 119.13 | 1.61 | 465.91 | 119.8 | 1.62 | 444.68 | 119.45 | 0.86 | 473.91 | 115.75 | 0.59 | 883.33 | 122.18 | 0.25 | 8.7 | -26.47 | 5.94 | 30.26 | 236.87 | 103.68 | -10.78 | 15.92 | 80.00 | -88.57 | 6.67 | 20.00 | 103.33 | -8.57 | 6.37 | -15.63 | 22.26 |
| 23Q3 (19) | 9.09 | -9.64 | -3.09 | -2.55 | -1493.75 | -188.54 | -0.44 | -110.43 | -105.8 | -0.47 | -111.22 | -106.21 | -0.23 | -110.7 | -103.9 | 0.06 | -94.87 | -97.99 | 0.23 | -8.0 | -37.84 | 4.56 | -47.59 | -57.58 | 116.21 | 5.27 | 25.1 | 700.00 | 0 | 1784.62 | -600.00 | -700.0 | -1054.55 | 7.55 | 13.02 | 67.04 |
| 23Q2 (18) | 10.06 | 89.45 | 10.67 | -0.16 | 95.09 | -103.4 | 4.22 | 463.79 | -20.38 | 4.19 | 452.1 | -21.09 | 2.15 | 390.54 | -69.02 | 1.17 | 568.0 | -61.64 | 0.25 | -21.88 | -54.55 | 8.70 | 246.61 | 22.02 | 110.39 | 15.59 | -16.06 | 0.00 | -100.0 | -100.0 | 100.00 | 150.0 | 875.0 | 6.68 | 19.5 | 145.59 |
| 23Q1 (17) | 5.31 | 47.09 | -40.0 | -3.26 | 47.59 | -181.5 | -1.16 | 85.73 | -120.79 | -1.19 | 85.71 | -121.4 | -0.74 | 86.45 | -110.93 | -0.25 | 90.6 | -108.83 | 0.32 | -5.88 | -34.69 | 2.51 | 157.83 | -67.57 | 95.50 | 6.78 | -35.07 | 300.00 | 300.0 | 320.0 | -200.00 | -1014.29 | -800.0 | 5.59 | 7.29 | 72.53 |
| 22Q4 (16) | 3.61 | -61.51 | -44.55 | -6.22 | -315.97 | -585.94 | -8.13 | -207.11 | -500.49 | -8.33 | -210.04 | -604.85 | -5.46 | -192.54 | -333.33 | -2.66 | -189.26 | -316.26 | 0.34 | -8.11 | -47.69 | -4.34 | -140.37 | -208.77 | 89.44 | -3.71 | -41.76 | 75.00 | 101.92 | 16.67 | 21.88 | -65.2 | -38.75 | 5.21 | 15.27 | 80.28 |
| 22Q3 (15) | 9.38 | 3.19 | 25.57 | 2.88 | -38.72 | 1166.67 | 7.59 | 43.21 | 224.36 | 7.57 | 42.56 | 222.13 | 5.90 | -14.99 | 208.9 | 2.98 | -2.3 | 166.07 | 0.37 | -32.73 | -13.95 | 10.75 | 50.77 | 92.65 | 92.89 | -29.37 | 9.6 | 37.14 | -57.39 | 434.29 | 62.86 | 512.86 | -43.43 | 4.52 | 66.18 | -9.24 |
| 22Q2 (14) | 9.09 | 2.71 | 47.09 | 4.70 | 17.5 | 384.54 | 5.30 | -5.02 | 150.0 | 5.31 | -4.5 | 155.29 | 6.94 | 2.51 | 167.95 | 3.05 | 7.77 | 101.99 | 0.55 | 12.24 | -15.38 | 7.13 | -7.88 | 62.41 | 131.51 | -10.59 | 38.18 | 87.18 | 22.05 | 88.89 | 10.26 | -64.1 | -80.95 | 2.72 | -16.05 | -16.05 |
| 22Q1 (13) | 8.85 | 35.94 | 33.89 | 4.00 | 212.5 | 266.97 | 5.58 | 174.88 | 230.18 | 5.56 | 236.97 | 228.99 | 6.77 | 189.32 | 240.2 | 2.83 | 130.08 | 126.4 | 0.49 | -24.62 | -18.33 | 7.74 | 93.98 | 82.55 | 147.09 | -4.23 | 68.91 | 71.43 | 11.11 | 7.14 | 28.57 | -20.0 | -14.29 | 3.24 | 12.11 | -10.5 |
| 21Q4 (12) | 6.51 | -12.85 | 10.9 | 1.28 | 574.07 | 197.67 | 2.03 | -13.25 | 109.28 | 1.65 | -29.79 | 139.13 | 2.34 | 22.51 | 172.09 | 1.23 | 9.82 | 127.78 | 0.65 | 51.16 | 1.56 | 3.99 | -28.49 | 25.08 | 153.58 | 81.22 | 46.92 | 64.29 | 678.57 | 60.71 | 35.71 | -67.86 | -40.48 | 2.89 | -41.97 | -14.5 |
| 21Q3 (11) | 7.47 | 20.87 | 45.33 | -0.27 | -127.84 | 89.29 | 2.34 | 10.38 | 263.64 | 2.35 | 12.98 | 264.34 | 1.91 | -26.25 | 250.39 | 1.12 | -25.83 | 275.0 | 0.43 | -33.85 | -14.0 | 5.58 | 27.11 | 279.59 | 84.75 | -10.95 | -1.75 | -11.11 | -124.07 | -106.67 | 111.11 | 106.35 | 266.67 | 4.98 | 53.7 | 4.62 |
| 21Q2 (10) | 6.18 | -6.51 | -9.91 | 0.97 | -11.01 | 129.66 | 2.12 | 25.44 | 221.84 | 2.08 | 23.08 | 219.54 | 2.59 | 30.15 | 331.25 | 1.51 | 20.8 | 364.91 | 0.65 | 8.33 | 71.05 | 4.39 | 3.54 | 87.61 | 95.17 | 9.29 | 41.9 | 46.15 | -30.77 | -76.92 | 53.85 | 61.54 | 153.85 | 3.24 | -10.5 | 0 |
| 21Q1 (9) | 6.61 | 12.61 | -38.22 | 1.09 | 153.49 | 137.46 | 1.69 | 74.23 | 159.51 | 1.69 | 144.93 | 159.51 | 1.99 | 131.4 | 248.51 | 1.25 | 131.48 | 289.39 | 0.60 | -6.25 | 122.22 | 4.24 | 32.92 | 58.21 | 87.08 | -16.69 | 22.22 | 66.67 | 66.67 | -42.86 | 33.33 | -44.44 | 0 | 3.62 | 7.1 | -58.91 |
| 20Q4 (8) | 5.87 | 14.2 | 31.91 | 0.43 | 117.06 | -33.85 | 0.97 | 167.83 | 130.41 | 0.69 | 148.25 | 121.63 | 0.86 | 167.72 | 142.57 | 0.54 | 184.38 | 150.47 | 0.64 | 28.0 | 72.97 | 3.19 | 117.01 | 228.87 | 104.53 | 21.18 | 32.58 | 40.00 | -76.0 | 300.0 | 60.00 | 190.0 | -50.0 | 3.38 | -28.99 | -46.01 |
| 20Q3 (7) | 5.14 | -25.07 | 11.98 | -2.52 | 22.94 | 74.7 | -1.43 | 17.82 | 71.68 | -1.43 | 17.82 | 71.23 | -1.27 | -13.39 | 50.78 | -0.64 | -12.28 | 54.93 | 0.50 | 31.58 | 61.29 | 1.47 | -37.18 | 476.92 | 86.26 | 28.61 | 28.77 | 166.67 | -16.67 | -16.67 | -66.67 | 33.33 | 33.33 | 4.76 | 0 | -38.34 |
| 20Q2 (6) | 6.86 | -35.89 | 14.72 | -3.27 | -12.37 | -7.92 | -1.74 | 38.73 | -93.33 | -1.74 | 38.73 | -93.33 | -1.12 | 16.42 | -51.35 | -0.57 | 13.64 | -62.86 | 0.38 | 40.74 | -22.45 | 2.34 | -12.69 | 21.24 | 67.07 | -5.87 | -7.23 | 200.00 | 71.43 | -38.46 | -100.00 | 0 | 55.56 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 10.70 | 140.45 | 92.1 | -2.91 | -547.69 | 37.15 | -2.84 | 10.97 | -32.09 | -2.84 | 10.97 | -32.09 | -1.34 | 33.66 | 15.19 | -0.66 | 38.32 | 22.35 | 0.27 | -27.03 | -46.0 | 2.68 | 176.29 | 101.5 | 71.25 | -9.63 | 11.14 | 116.67 | 683.33 | -45.1 | -0.00 | -100.0 | 100.0 | 8.81 | 40.73 | 58.74 |
| 19Q4 (4) | 4.45 | -3.05 | 0.0 | 0.65 | 106.53 | 0.0 | -3.19 | 36.83 | 0.0 | -3.19 | 35.81 | 0.0 | -2.02 | 21.71 | 0.0 | -1.07 | 24.65 | 0.0 | 0.37 | 19.35 | 0.0 | 0.97 | 348.72 | 0.0 | 78.84 | 17.69 | 0.0 | -20.00 | -110.0 | 0.0 | 120.00 | 220.0 | 0.0 | 6.26 | -18.91 | 0.0 |
| 19Q3 (3) | 4.59 | -23.24 | 0.0 | -9.96 | -228.71 | 0.0 | -5.05 | -461.11 | 0.0 | -4.97 | -452.22 | 0.0 | -2.58 | -248.65 | 0.0 | -1.42 | -305.71 | 0.0 | 0.31 | -36.73 | 0.0 | -0.39 | -120.21 | 0.0 | 66.99 | -7.34 | 0.0 | 200.00 | -38.46 | 0.0 | -100.00 | 55.56 | 0.0 | 7.72 | 58.2 | 0.0 |
| 19Q2 (2) | 5.98 | 7.36 | 0.0 | -3.03 | 34.56 | 0.0 | -0.90 | 58.14 | 0.0 | -0.90 | 58.14 | 0.0 | -0.74 | 53.16 | 0.0 | -0.35 | 58.82 | 0.0 | 0.49 | -2.0 | 0.0 | 1.93 | 45.11 | 0.0 | 72.30 | 12.77 | 0.0 | 325.00 | 52.94 | 0.0 | -225.00 | -100.0 | 0.0 | 4.88 | -12.07 | 0.0 |
| 19Q1 (1) | 5.57 | 0.0 | 0.0 | -4.63 | 0.0 | 0.0 | -2.15 | 0.0 | 0.0 | -2.15 | 0.0 | 0.0 | -1.58 | 0.0 | 0.0 | -0.85 | 0.0 | 0.0 | 0.50 | 0.0 | 0.0 | 1.33 | 0.0 | 0.0 | 64.11 | 0.0 | 0.0 | 212.50 | 0.0 | 0.0 | -112.50 | 0.0 | 0.0 | 5.55 | 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) | 8.37 | 3.21 | -1.24 | 0 | 3.56 | 75.63 | 0.98 | -71.92 | 0.96 | -72.09 | 2.05 | -85.52 | 1.65 | -76.99 | 1.09 | -42.02 | 5.30 | -11.52 | 103.68 | 15.92 | -133.33 | 0 | 233.33 | 519.54 | 0.00 | 0 | 6.49 | 75.88 |
| 2022 (9) | 8.11 | 22.51 | 2.19 | 148.86 | 2.03 | 2.73 | 3.49 | 71.92 | 3.44 | 81.05 | 14.16 | 58.92 | 7.17 | 61.49 | 1.88 | -7.84 | 5.99 | 36.45 | 89.44 | -41.76 | 63.64 | 43.18 | 37.66 | -34.82 | 0.00 | 0 | 3.69 | 4.53 |
| 2021 (8) | 6.62 | 0.46 | 0.88 | 0 | 1.97 | -34.41 | 2.03 | 0 | 1.90 | 0 | 8.91 | 0 | 4.44 | 0 | 2.04 | 21.43 | 4.39 | 77.73 | 153.58 | 46.92 | 44.44 | -77.78 | 57.78 | 0 | 0.00 | 0 | 3.53 | -31.98 |
| 2020 (7) | 6.59 | 25.52 | -1.61 | 0 | 3.01 | -7.16 | -0.80 | 0 | -0.90 | 0 | -2.91 | 0 | -1.16 | 0 | 1.68 | -5.08 | 2.47 | 124.55 | 104.53 | 32.58 | 200.00 | 29.63 | -100.00 | 0 | 0.00 | 0 | 5.19 | -12.33 |
| 2019 (6) | 5.25 | -20.45 | -3.96 | 0 | 3.24 | 2130.78 | -2.56 | 0 | -2.54 | 0 | -6.92 | 0 | -3.96 | 0 | 1.77 | -9.23 | 1.10 | 0 | 78.84 | 153.91 | 154.29 | 41.78 | -54.29 | 0 | 0.00 | 0 | 5.92 | -1.33 |
| 2018 (5) | 6.60 | 0.0 | -2.69 | 0 | 0.15 | -6.83 | -2.48 | 0 | -2.49 | 0 | -6.49 | 0 | -4.70 | 0 | 1.95 | 10.8 | -2.25 | 0 | 31.05 | -10.78 | 108.82 | -8.1 | -8.82 | 0 | 0.00 | 0 | 6.00 | -6.69 |
| 2017 (4) | 6.60 | -9.47 | -3.54 | 0 | 0.16 | 18.39 | -3.00 | 0 | -2.97 | 0 | -6.69 | 0 | -5.09 | 0 | 1.76 | -14.98 | -2.73 | 0 | 34.80 | 63.3 | 118.42 | 0 | -18.42 | 0 | 0.00 | 0 | 6.43 | 14.01 |
| 2016 (3) | 7.29 | 52.83 | -1.50 | 0 | 0.13 | -25.21 | 3.30 | 0 | 3.29 | 0 | 8.72 | 0 | 7.05 | 0 | 2.07 | 2.48 | 3.62 | 0 | 21.31 | -40.54 | -46.00 | 0 | 146.00 | 4718.0 | 0.00 | 0 | 5.64 | 7.02 |
| 2015 (2) | 4.77 | -23.19 | -3.79 | 0 | 0.18 | -4.93 | -3.88 | 0 | -4.89 | 0 | -13.97 | 0 | -9.59 | 0 | 2.02 | 12.85 | -3.52 | 0 | 35.84 | -22.66 | 98.48 | -45.08 | 3.03 | 0 | 0.00 | 0 | 5.27 | -11.58 |
| 2014 (1) | 6.21 | 0 | -3.22 | 0 | 0.19 | 14.81 | -1.79 | 0 | -1.79 | 0 | -4.37 | 0 | -3.01 | 0 | 1.79 | -10.05 | -1.42 | 0 | 46.34 | 67.96 | 179.31 | -3.65 | -79.31 | 0 | 0.00 | 0 | 5.96 | 3.11 |
