- 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) | 15.23 | -27.61 | -5.34 | -10.68 | -3.59 | -188.65 | -11.44 | -112.48 | -252.0 | -11.45 | -112.5 | -265.81 | -0.39 | -110.51 | -160.0 | -0.38 | -110.86 | -171.43 | 0.03 | -25.0 | -40.0 | -9.68 | -110.41 | -342.01 | 2.69 | -36.26 | -30.13 | 92.86 | 935.71 | -25.71 | 7.14 | -93.57 | 128.57 | 19.54 | -5.56 | 47.03 |
| 23Q3 (19) | 21.04 | 8.17 | 23.69 | -10.31 | -151.46 | 27.85 | 91.68 | 15380.0 | 0.04 | 91.61 | 48315.79 | 0.27 | 3.71 | 37200.0 | 0.54 | 3.50 | 35100.0 | 0.86 | 0.04 | 0.0 | 0.0 | 92.97 | 11974.03 | -0.2 | 4.22 | -49.22 | 6.03 | -11.11 | -102.22 | 30.07 | 111.11 | 122.22 | -4.12 | 20.69 | 44.38 | -9.69 |
| 23Q2 (18) | 19.45 | -5.86 | 57.36 | -4.10 | -55.3 | 54.24 | -0.60 | -145.11 | 23.08 | -0.19 | -119.79 | 79.79 | -0.01 | -125.0 | 75.0 | -0.01 | -125.0 | 75.0 | 0.04 | 0.0 | 0.0 | 0.77 | -76.16 | -3.75 | 8.31 | -2.69 | -0.6 | 500.00 | 433.33 | -54.55 | -500.00 | -300.0 | 50.0 | 14.33 | -3.04 | -8.02 |
| 23Q1 (17) | 20.66 | 28.4 | 38.66 | -2.64 | 28.65 | 63.28 | 1.33 | 140.92 | 137.46 | 0.96 | 130.67 | 123.24 | 0.04 | 126.67 | 125.0 | 0.04 | 128.57 | 126.67 | 0.04 | -20.0 | 0.0 | 3.23 | 247.49 | 229.2 | 8.54 | 121.82 | 1.55 | -150.00 | -220.0 | -166.67 | 250.00 | 1100.0 | 350.0 | 14.78 | 11.21 | -9.21 |
| 22Q4 (16) | 16.09 | -5.41 | 8.72 | -3.70 | 74.11 | 55.21 | -3.25 | -103.55 | -106.98 | -3.13 | -103.43 | -106.81 | -0.15 | -104.07 | -106.76 | -0.14 | -104.03 | -106.54 | 0.05 | 25.0 | 0.0 | -2.19 | -102.35 | -104.61 | 3.85 | -3.27 | 7.84 | 125.00 | 886.76 | 787.5 | -25.00 | -121.57 | -121.43 | 13.29 | -41.99 | -26.7 |
| 22Q3 (15) | 17.01 | 37.62 | 22.99 | -14.29 | -59.49 | -37.14 | 91.64 | 11848.72 | 58.57 | 91.36 | 9819.15 | 58.67 | 3.69 | 9325.0 | 14.95 | 3.47 | 8775.0 | 14.52 | 0.04 | 0.0 | -20.0 | 93.16 | 11545.0 | 56.97 | 3.98 | -52.39 | -6.79 | -15.89 | -101.44 | 10.63 | 115.89 | 111.59 | -1.6 | 22.91 | 47.05 | 16.71 |
| 22Q2 (14) | 12.36 | -17.05 | -17.49 | -8.96 | -24.62 | -55.02 | -0.78 | 78.03 | 66.38 | -0.94 | 77.24 | 58.95 | -0.04 | 75.0 | 69.23 | -0.04 | 73.33 | 66.67 | 0.04 | 0.0 | -20.0 | 0.80 | 132.0 | 160.61 | 8.36 | -0.59 | 9.28 | 1100.00 | 388.89 | 388.89 | -1000.00 | -900.0 | -700.0 | 15.58 | -4.3 | 20.96 |
| 22Q1 (13) | 14.90 | 0.68 | -9.15 | -7.19 | 12.95 | -38.27 | -3.55 | -107.62 | 27.85 | -4.13 | -108.99 | 20.88 | -0.16 | -107.21 | 46.67 | -0.15 | -107.01 | 46.43 | 0.04 | -20.0 | -20.0 | -2.50 | -105.26 | 36.22 | 8.41 | 135.57 | 4.99 | 225.00 | 1337.5 | 125.0 | -100.00 | -185.71 | 0 | 16.28 | -10.2 | 13.21 |
| 21Q4 (12) | 14.80 | 7.01 | -17.04 | -8.26 | 20.73 | -124.46 | 46.57 | -19.42 | 1134.89 | 45.95 | -20.2 | 1101.09 | 2.22 | -30.84 | 892.86 | 2.14 | -29.37 | 892.59 | 0.05 | 0.0 | -16.67 | 47.52 | -19.93 | 1594.34 | 3.57 | -16.39 | -25.63 | -18.18 | -2.27 | -121.21 | 116.67 | -0.94 | 716.67 | 18.13 | -7.64 | 46.09 |
| 21Q3 (11) | 13.83 | -7.68 | -26.63 | -10.42 | -80.28 | -64.61 | 57.79 | 2590.95 | 32.85 | 57.58 | 2614.41 | 26.22 | 3.21 | 2569.23 | 4.56 | 3.03 | 2625.0 | 5.57 | 0.05 | 0.0 | -16.67 | 59.35 | 4596.21 | 33.94 | 4.27 | -44.18 | 13.56 | -17.78 | -107.9 | -17.98 | 117.78 | 194.22 | 3.59 | 19.63 | 52.41 | 18.47 |
| 21Q2 (10) | 14.98 | -8.66 | 8.95 | -5.78 | -11.15 | 24.54 | -2.32 | 52.85 | 56.47 | -2.29 | 56.13 | 55.1 | -0.13 | 56.67 | 59.38 | -0.12 | 57.14 | 58.62 | 0.05 | 0.0 | -16.67 | -1.32 | 66.33 | 67.0 | 7.65 | -4.49 | -27.35 | 225.00 | 125.0 | 63.64 | -125.00 | 0 | -150.0 | 12.88 | -10.43 | 0 |
| 21Q1 (9) | 16.40 | -8.07 | 5.13 | -5.20 | -41.3 | -54.3 | -4.92 | -9.33 | -96.8 | -5.22 | -13.73 | -82.52 | -0.30 | -7.14 | -42.86 | -0.28 | -3.7 | -47.37 | 0.05 | -16.67 | -28.57 | -3.92 | -23.27 | -133.33 | 8.01 | 66.88 | -26.98 | 100.00 | 16.67 | -33.33 | -0.00 | -100.0 | 100.0 | 14.38 | 15.87 | 0 |
| 20Q4 (8) | 17.84 | -5.36 | 21.36 | -3.68 | 41.86 | -60.0 | -4.50 | -110.34 | -88.28 | -4.59 | -110.06 | -62.19 | -0.28 | -109.12 | -16.67 | -0.27 | -109.41 | -17.39 | 0.06 | 0.0 | -25.0 | -3.18 | -107.18 | -76.67 | 4.80 | 27.66 | 1.91 | 85.71 | 668.83 | -14.29 | 14.29 | -87.44 | 0 | 12.41 | -25.11 | 149.2 |
| 20Q3 (7) | 18.85 | 37.09 | -3.18 | -6.33 | 17.36 | 5.1 | 43.50 | 916.14 | -11.62 | 45.62 | 994.51 | -7.78 | 3.07 | 1059.37 | -9.97 | 2.87 | 1089.66 | -8.89 | 0.06 | 0.0 | 0.0 | 44.31 | 1207.75 | -11.87 | 3.76 | -64.29 | -18.79 | -15.07 | -110.96 | -10.5 | 113.70 | 327.4 | 0.05 | 16.57 | 0 | -7.43 |
| 20Q2 (6) | 13.75 | -11.86 | 6.42 | -7.66 | -127.3 | -158.78 | -5.33 | -113.2 | -439.49 | -5.10 | -78.32 | -2900.0 | -0.32 | -52.38 | -3100.0 | -0.29 | -52.63 | -2800.0 | 0.06 | -14.29 | -25.0 | -4.00 | -138.1 | -283.49 | 10.53 | -4.01 | -9.69 | 137.50 | -8.33 | 178.57 | -50.00 | 0.0 | -120.0 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 15.60 | 6.12 | 17.74 | -3.37 | -46.52 | -25.75 | -2.50 | -4.6 | -371.7 | -2.86 | -1.06 | -262.03 | -0.21 | 12.5 | -200.0 | -0.19 | 17.39 | -216.67 | 0.07 | -12.5 | -12.5 | -1.68 | 6.67 | -473.33 | 10.97 | 132.91 | 179.85 | 150.00 | 50.0 | -75.0 | -50.00 | 0 | 90.0 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 14.70 | -24.5 | 0.0 | -2.30 | 65.52 | 0.0 | -2.39 | -104.86 | 0.0 | -2.83 | -105.72 | 0.0 | -0.24 | -107.04 | 0.0 | -0.23 | -107.3 | 0.0 | 0.08 | 33.33 | 0.0 | -1.80 | -103.58 | 0.0 | 4.71 | 1.73 | 0.0 | 100.00 | 833.33 | 0.0 | 0.00 | -100.0 | 0.0 | 4.98 | -72.18 | 0.0 |
| 19Q3 (3) | 19.47 | 50.7 | 0.0 | -6.67 | -125.34 | 0.0 | 49.22 | 3035.03 | 0.0 | 49.47 | 29200.0 | 0.0 | 3.41 | 34200.0 | 0.0 | 3.15 | 31600.0 | 0.0 | 0.06 | -25.0 | 0.0 | 50.28 | 2206.42 | 0.0 | 4.63 | -60.29 | 0.0 | -13.64 | 92.21 | 0.0 | 113.64 | -54.55 | 0.0 | 17.90 | 68.55 | 0.0 |
| 19Q2 (2) | 12.92 | -2.49 | 0.0 | -2.96 | -10.45 | 0.0 | 1.57 | 396.23 | 0.0 | -0.17 | 78.48 | 0.0 | -0.01 | 85.71 | 0.0 | -0.01 | 83.33 | 0.0 | 0.08 | 0.0 | 0.0 | 2.18 | 384.44 | 0.0 | 11.66 | 197.45 | 0.0 | -175.00 | -129.17 | 0.0 | 250.00 | 150.0 | 0.0 | 10.62 | -4.58 | 0.0 |
| 19Q1 (1) | 13.25 | 0.0 | 0.0 | -2.68 | 0.0 | 0.0 | -0.53 | 0.0 | 0.0 | -0.79 | 0.0 | 0.0 | -0.07 | 0.0 | 0.0 | -0.06 | 0.0 | 0.0 | 0.08 | 0.0 | 0.0 | 0.45 | 0.0 | 0.0 | 3.92 | 0.0 | 0.0 | 600.00 | 0.0 | 0.0 | -500.00 | 0.0 | 0.0 | 11.13 | 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) | 19.11 | 26.72 | -6.92 | 0 | 0.79 | -1.19 | 20.52 | 5.12 | 20.51 | 6.27 | 3.08 | -5.52 | 2.99 | -5.08 | 0.15 | -6.25 | 22.13 | 6.39 | 2.69 | -30.13 | -33.65 | 0 | 133.65 | -5.77 | 0.23 | -15.22 | 17.32 | 2.91 |
| 2022 (9) | 15.08 | 0.47 | -8.34 | 0 | 0.80 | 20.2 | 19.52 | -18.63 | 19.30 | -18.67 | 3.26 | -34.93 | 3.15 | -34.65 | 0.16 | -20.0 | 20.80 | -17.2 | 3.85 | 7.84 | -42.86 | 0 | 141.84 | 8.07 | 0.27 | 68.67 | 16.83 | 3.63 |
| 2021 (8) | 15.01 | -9.31 | -7.41 | 0 | 0.67 | 44.87 | 23.99 | 194.36 | 23.73 | 175.29 | 5.01 | 134.11 | 4.82 | 136.27 | 0.20 | -16.67 | 25.12 | 173.34 | 3.57 | -25.63 | -31.25 | 0 | 131.25 | -20.04 | 0.16 | -59.87 | 16.24 | 11.77 |
| 2020 (7) | 16.55 | 11.52 | -5.19 | 0 | 0.46 | 30.63 | 8.15 | -18.5 | 8.62 | -8.3 | 2.14 | -29.84 | 2.04 | -30.14 | 0.24 | -22.58 | 9.19 | -14.83 | 4.80 | 1.91 | -64.15 | 0 | 164.15 | 21.33 | 0.40 | -9.68 | 14.53 | 34.41 |
| 2019 (6) | 14.84 | -38.09 | -3.50 | 0 | 0.35 | -43.9 | 10.00 | -33.11 | 9.40 | -32.18 | 3.05 | -3.48 | 2.92 | -3.63 | 0.31 | 40.91 | 10.79 | -34.45 | 4.71 | 12.14 | -35.29 | 0 | 135.29 | 5.35 | 0.44 | -7.46 | 10.81 | -35.65 |
| 2018 (5) | 23.97 | -14.58 | -4.17 | 0 | 0.63 | 10.66 | 14.95 | -50.38 | 13.86 | -51.16 | 3.16 | -52.48 | 3.03 | -52.66 | 0.22 | -4.35 | 16.46 | -47.89 | 4.20 | 0.72 | -28.42 | 0 | 128.42 | 16.9 | 0.47 | 0 | 16.80 | -3.06 |
| 2017 (4) | 28.06 | -8.57 | -3.06 | 0 | 0.57 | -15.47 | 30.13 | -6.2 | 28.38 | -10.05 | 6.65 | -16.67 | 6.40 | -16.56 | 0.23 | -4.17 | 31.59 | -5.36 | 4.17 | 8.03 | -10.33 | 0 | 109.86 | -0.13 | 0.00 | 0 | 17.33 | 2.54 |
| 2016 (3) | 30.69 | -0.16 | -3.28 | 0 | 0.67 | 2.95 | 32.12 | 2.82 | 31.55 | 4.89 | 7.98 | 5.0 | 7.67 | 4.92 | 0.24 | 0.0 | 33.38 | 3.38 | 3.86 | -10.02 | -10.00 | 0 | 110.00 | 17.86 | 0.00 | 0 | 16.90 | 23.27 |
| 2015 (2) | 30.74 | -4.95 | 2.04 | -44.57 | 0.65 | -7.42 | 31.24 | -8.92 | 30.08 | -8.32 | 7.60 | 4.4 | 7.31 | 4.43 | 0.24 | 14.29 | 32.29 | -8.89 | 4.29 | 16.89 | 6.67 | -37.44 | 93.33 | 4.46 | 0.00 | 0 | 13.71 | 7.45 |
| 2014 (1) | 32.34 | 0 | 3.68 | 0 | 0.70 | -20.94 | 34.30 | 0 | 32.81 | 0 | 7.28 | 0 | 7.00 | 0 | 0.21 | -8.7 | 35.44 | 8.95 | 3.67 | -13.85 | 10.66 | -23.53 | 89.34 | 3.81 | 0.00 | 0 | 12.76 | 12.23 |
