- 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) | 26.28 | 0.19 | -8.59 | -9.50 | 10.46 | -29.6 | -8.88 | -712.41 | -186.97 | -8.34 | -342.44 | -161.6 | -1.36 | -377.55 | -161.54 | -0.86 | -304.76 | -156.95 | 0.11 | 22.22 | 0.0 | -2.20 | -121.87 | -113.0 | 47.46 | -5.16 | 7.38 | 106.25 | 112.5 | 251.79 | -6.25 | -100.66 | -103.68 | 30.68 | -2.39 | -4.24 |
| 23Q3 (19) | 26.23 | 2.06 | -5.65 | -10.61 | -105.22 | -281.65 | 1.45 | 132.58 | -77.62 | 3.44 | 202.38 | -31.34 | 0.49 | 183.05 | -46.15 | 0.42 | 240.0 | -32.26 | 0.09 | -18.18 | -18.18 | 10.06 | 408.08 | -20.29 | 50.04 | -24.31 | -19.59 | -850.00 | -865.0 | -1883.33 | 950.00 | 8650.0 | 565.0 | 31.43 | 25.17 | 17.1 |
| 23Q2 (18) | 25.70 | 2.76 | 5.41 | -5.17 | 48.45 | -23.68 | -4.45 | 34.85 | -132.13 | -3.36 | 37.55 | -126.77 | -0.59 | 24.36 | -121.93 | -0.30 | 37.5 | -117.65 | 0.11 | 10.0 | -15.38 | 1.98 | 241.38 | -89.33 | 66.11 | 24.9 | 4.36 | 111.11 | -21.57 | 477.78 | -11.11 | 77.78 | -108.4 | 25.11 | -19.9 | 5.55 |
| 23Q1 (17) | 25.01 | -13.01 | 11.95 | -10.03 | -36.83 | -86.78 | -6.83 | -166.9 | -324.22 | -5.38 | -139.73 | -106.92 | -0.78 | -135.29 | -50.0 | -0.48 | -131.79 | -65.52 | 0.10 | -9.09 | -23.08 | 0.58 | -96.57 | -83.38 | 52.93 | 19.75 | -12.18 | 141.67 | 302.38 | -52.78 | -50.00 | -129.41 | 77.78 | 31.35 | -2.15 | 12.08 |
| 22Q4 (16) | 28.75 | 3.42 | 2.86 | -7.33 | -163.67 | -297.57 | 10.21 | 57.56 | 343.1 | 13.54 | 170.26 | 465.95 | 2.21 | 142.86 | 379.75 | 1.51 | 143.55 | 435.56 | 0.11 | 0.0 | -15.38 | 16.92 | 34.07 | 3928.57 | 44.20 | -28.97 | -26.88 | -70.00 | -63.33 | 22.22 | 170.00 | 19.0 | -10.53 | 32.04 | 19.37 | 39.0 |
| 22Q3 (15) | 27.80 | 14.03 | 1.02 | -2.78 | 33.49 | -159.53 | 6.48 | -53.21 | -4.57 | 5.01 | -60.08 | 1.62 | 0.91 | -66.17 | -18.75 | 0.62 | -63.53 | -15.07 | 0.11 | -15.38 | -21.43 | 12.62 | -31.97 | 14.0 | 62.23 | -1.77 | 0.0 | -42.86 | -45.71 | -160.71 | 142.86 | 7.94 | 385.71 | 26.84 | 12.82 | 17.46 |
| 22Q2 (14) | 24.38 | 9.13 | -9.27 | -4.18 | 22.16 | -336.16 | 13.85 | 960.25 | 197.21 | 12.55 | 582.69 | 268.04 | 2.69 | 617.31 | 263.51 | 1.70 | 686.21 | 246.94 | 0.13 | 0.0 | 0.0 | 18.55 | 431.52 | 101.41 | 63.35 | 5.11 | 4.5 | -29.41 | -109.8 | -180.88 | 132.35 | 158.82 | 107.98 | 23.79 | -14.94 | 0.72 |
| 22Q1 (13) | 22.34 | -20.07 | 2.2 | -5.37 | -244.74 | -7.4 | -1.61 | 61.67 | -28.8 | -2.60 | 29.73 | -59.51 | -0.52 | 34.18 | -57.58 | -0.29 | 35.56 | -61.11 | 0.13 | 0.0 | 0.0 | 3.49 | 730.95 | -13.18 | 60.27 | -0.3 | 0.94 | 300.00 | 433.33 | -18.18 | -225.00 | -218.42 | 15.62 | 27.97 | 21.34 | 8.03 |
| 21Q4 (12) | 27.95 | 1.56 | 29.34 | 3.71 | -20.56 | 140.24 | -4.20 | -161.86 | -7.97 | -3.70 | -175.05 | -144.26 | -0.79 | -170.54 | -154.11 | -0.45 | -161.64 | -146.39 | 0.13 | -7.14 | 18.18 | 0.42 | -96.21 | -83.97 | 60.45 | -2.86 | 13.95 | -90.00 | -227.5 | -135.0 | 190.00 | 546.0 | 233.0 | 23.05 | 0.88 | -16.46 |
| 21Q3 (11) | 27.52 | 2.42 | 9.34 | 4.67 | 163.84 | 141.85 | 6.79 | 45.71 | 202.57 | 4.93 | 44.57 | 178.75 | 1.12 | 51.35 | 212.0 | 0.73 | 48.98 | 223.73 | 0.14 | 7.69 | 40.0 | 11.07 | 20.2 | 1808.62 | 62.23 | 2.66 | 8.57 | 70.59 | 94.12 | -59.13 | 29.41 | -53.78 | 140.44 | 22.85 | -3.26 | -17.21 |
| 21Q2 (10) | 26.87 | 22.92 | -11.0 | 1.77 | 135.4 | 224.65 | 4.66 | 472.8 | 370.93 | 3.41 | 309.2 | 210.71 | 0.74 | 324.24 | 225.42 | 0.49 | 372.22 | 253.12 | 0.13 | 0.0 | 8.33 | 9.21 | 129.1 | 90.68 | 60.62 | 1.52 | -4.42 | 36.36 | -90.08 | -51.52 | 63.64 | 123.86 | 154.55 | 23.62 | -8.77 | 0 |
| 21Q1 (9) | 21.86 | 1.16 | -5.9 | -5.00 | 45.77 | 48.19 | -1.25 | 67.87 | 87.27 | -1.63 | -119.5 | 79.95 | -0.33 | -122.6 | 76.43 | -0.18 | -118.56 | 77.78 | 0.13 | 18.18 | 18.18 | 4.02 | 53.44 | 252.85 | 59.71 | 12.55 | -5.86 | 366.67 | 42.59 | 287.04 | -266.67 | -86.67 | 0 | 25.89 | -6.16 | -6.13 |
| 20Q4 (8) | 21.61 | -14.14 | -13.32 | -9.22 | 17.38 | 15.8 | -3.89 | 41.24 | 64.01 | 8.36 | 233.55 | 153.01 | 1.46 | 246.0 | 151.23 | 0.97 | 264.41 | 157.74 | 0.11 | 10.0 | 0.0 | 2.62 | 351.72 | 177.06 | 53.05 | -7.45 | -16.32 | 257.14 | 48.87 | 145.96 | -142.86 | -96.43 | 0 | 27.59 | -0.04 | 0 |
| 20Q3 (7) | 25.17 | -16.63 | 5.53 | -11.16 | -685.92 | -30.53 | -6.62 | -284.88 | 38.59 | -6.26 | -103.25 | 28.54 | -1.00 | -69.49 | 40.48 | -0.59 | -84.37 | 39.18 | 0.10 | -16.67 | -16.67 | 0.58 | -87.99 | 114.68 | 57.32 | -9.62 | -12.0 | 172.73 | 130.3 | 115.91 | -72.73 | -390.91 | -463.64 | 27.60 | 0 | -4.86 |
| 20Q2 (6) | 30.19 | 29.96 | 13.58 | -1.42 | 85.28 | 71.66 | -1.72 | 82.48 | -10.97 | -3.08 | 62.12 | -105.33 | -0.59 | 57.86 | -96.67 | -0.32 | 60.49 | -146.15 | 0.12 | 9.09 | 0.0 | 4.83 | 283.65 | -0.62 | 63.42 | -0.02 | 1.96 | 75.00 | -20.83 | -75.0 | 25.00 | 0 | 111.11 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 23.23 | -6.82 | -16.41 | -9.65 | 11.87 | -22.15 | -9.82 | 9.16 | -433.7 | -8.13 | 48.45 | -449.32 | -1.40 | 50.88 | -418.52 | -0.81 | 51.79 | -710.0 | 0.11 | 0.0 | 0.0 | -2.63 | 22.65 | -137.46 | 63.43 | 0.05 | 2.29 | 94.74 | -9.38 | -78.95 | 0.00 | 0 | 100.0 | 27.58 | 0 | -1.85 |
| 19Q4 (4) | 24.93 | 4.53 | 0.0 | -10.95 | -28.07 | 0.0 | -10.81 | -0.28 | 0.0 | -15.77 | -80.02 | 0.0 | -2.85 | -69.64 | 0.0 | -1.68 | -73.2 | 0.0 | 0.11 | -8.33 | 0.0 | -3.40 | 13.92 | 0.0 | 63.40 | -2.67 | 0.0 | 104.55 | 30.68 | 0.0 | -0.00 | -100.0 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 23.85 | -10.27 | 0.0 | -8.55 | -70.66 | 0.0 | -10.78 | -595.48 | 0.0 | -8.76 | -484.0 | 0.0 | -1.68 | -460.0 | 0.0 | -0.97 | -646.15 | 0.0 | 0.12 | 0.0 | 0.0 | -3.95 | -181.28 | 0.0 | 65.14 | 4.73 | 0.0 | 80.00 | -73.33 | 0.0 | 20.00 | 108.89 | 0.0 | 29.01 | 10.94 | 0.0 |
| 19Q2 (2) | 26.58 | -4.35 | 0.0 | -5.01 | 36.58 | 0.0 | -1.55 | 15.76 | 0.0 | -1.50 | -1.35 | 0.0 | -0.30 | -11.11 | 0.0 | -0.13 | -30.0 | 0.0 | 0.12 | 9.09 | 0.0 | 4.86 | -30.77 | 0.0 | 62.20 | 0.31 | 0.0 | 300.00 | -33.33 | 0.0 | -225.00 | 35.71 | 0.0 | 26.15 | -6.94 | 0.0 |
| 19Q1 (1) | 27.79 | 0.0 | 0.0 | -7.90 | 0.0 | 0.0 | -1.84 | 0.0 | 0.0 | -1.48 | 0.0 | 0.0 | -0.27 | 0.0 | 0.0 | -0.10 | 0.0 | 0.0 | 0.11 | 0.0 | 0.0 | 7.02 | 0.0 | 0.0 | 62.01 | 0.0 | 0.0 | 450.00 | 0.0 | 0.0 | -350.00 | 0.0 | 0.0 | 28.10 | 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) | 25.80 | 0.62 | -8.65 | 0 | 6.00 | 23.57 | -4.84 | 0 | -3.60 | 0 | -2.25 | 0 | -1.24 | 0 | 0.43 | -14.0 | 2.23 | -82.51 | 47.46 | 7.38 | 177.14 | 0 | -77.14 | 0 | 0.19 | 60.66 | 29.44 | 7.37 |
| 2022 (9) | 25.64 | -1.91 | -4.84 | 0 | 4.85 | 13.05 | 7.27 | 348.77 | 7.03 | 727.06 | 5.37 | 635.62 | 3.75 | 525.0 | 0.50 | -7.41 | 12.75 | 99.53 | 44.20 | -26.88 | -67.19 | 0 | 167.19 | 1153.91 | 0.12 | 3.69 | 27.42 | 15.21 |
| 2021 (8) | 26.14 | 3.9 | 1.44 | 0 | 4.29 | -31.93 | 1.62 | 0 | 0.85 | 0 | 0.73 | 0 | 0.60 | 0 | 0.54 | 25.58 | 6.39 | 304.43 | 60.45 | 13.95 | 93.33 | -34.02 | 13.33 | 0 | 0.11 | -4.79 | 23.80 | -12.08 |
| 2020 (7) | 25.16 | -2.59 | -7.64 | 0 | 6.31 | -2.82 | -5.40 | 0 | -2.19 | 0 | -1.49 | 0 | -0.78 | 0 | 0.43 | -6.52 | 1.58 | 19.7 | 53.05 | -16.32 | 141.46 | 8.06 | -41.46 | 0 | 0.12 | -28.97 | 27.07 | -4.38 |
| 2019 (6) | 25.83 | -10.99 | -7.97 | 0 | 6.49 | 47.99 | -6.03 | 0 | -6.55 | 0 | -5.07 | 0 | -2.81 | 0 | 0.46 | -16.36 | 1.32 | -79.11 | 63.40 | -9.34 | 130.91 | 554.55 | -32.73 | 0 | 0.16 | 71.97 | 28.31 | 22.13 |
| 2018 (5) | 29.02 | -4.79 | 0.22 | -94.57 | 4.39 | -21.18 | 1.33 | -72.97 | 1.88 | -37.75 | 1.73 | -39.08 | 1.25 | -36.87 | 0.55 | -5.17 | 6.32 | -42.81 | 69.93 | 15.87 | 20.00 | -75.6 | 86.67 | 380.61 | 0.10 | 0 | 23.18 | 6.72 |
| 2017 (4) | 30.48 | 6.95 | 4.05 | -22.26 | 5.56 | -14.19 | 4.92 | -57.4 | 3.02 | -65.84 | 2.84 | -67.32 | 1.98 | -65.45 | 0.58 | -6.45 | 11.05 | -40.69 | 60.35 | -5.56 | 81.97 | 82.27 | 18.03 | -67.23 | 0.00 | 0 | 21.72 | 7.58 |
| 2016 (3) | 28.50 | 16.71 | 5.21 | 2.96 | 6.48 | 44.13 | 11.55 | 148.39 | 8.84 | 172.84 | 8.69 | 163.33 | 5.73 | 144.87 | 0.62 | -7.46 | 18.63 | 88.18 | 63.90 | 23.05 | 44.97 | -58.24 | 55.03 | 0 | 0.00 | 0 | 20.19 | 3.64 |
| 2015 (2) | 24.42 | -10.42 | 5.06 | -37.68 | 4.50 | 9.56 | 4.65 | -52.16 | 3.24 | -56.16 | 3.30 | -59.61 | 2.34 | -58.06 | 0.67 | -9.46 | 9.90 | -31.63 | 51.93 | -2.95 | 107.69 | 29.08 | -8.97 | 0 | 0.00 | 0 | 19.48 | 2.1 |
| 2014 (1) | 27.26 | 0 | 8.12 | 0 | 4.11 | -1.44 | 9.72 | 0 | 7.39 | 0 | 8.17 | 0 | 5.58 | 0 | 0.74 | -6.33 | 14.48 | -5.67 | 53.51 | 17.92 | 83.43 | -14.7 | 16.57 | 654.0 | 0.00 | 0 | 19.08 | -3.69 |
