- 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) | 8.16 | -30.2 | 25.93 | 2.19 | -62.94 | 152.9 | -4.68 | -160.94 | 72.01 | -3.78 | -211.18 | 75.36 | -1.30 | -176.47 | 82.14 | -0.18 | -120.69 | 91.86 | 0.13 | -18.75 | -18.75 | -0.28 | -102.49 | 97.94 | 146.50 | -15.05 | -29.93 | -47.06 | -160.38 | -291.27 | 144.12 | 512.5 | 91.15 | 5.28 | 2.72 | -21.08 |
| 23Q3 (19) | 11.69 | -8.17 | 441.81 | 5.91 | 19.64 | 160.37 | 7.68 | 7.56 | 468.89 | 3.40 | -25.93 | 314.63 | 1.70 | -8.6 | 486.21 | 0.87 | 2.35 | 171.88 | 0.16 | 33.33 | 23.08 | 11.24 | -6.8 | 127.07 | 172.45 | -28.93 | -6.31 | 77.94 | 13.14 | 110.94 | 23.53 | -24.37 | -97.1 | 5.14 | -37.32 | -18.54 |
| 23Q2 (18) | 12.73 | -6.74 | 4614.81 | 4.94 | -39.98 | 187.43 | 7.14 | 214.54 | 230.56 | 4.59 | 119.62 | 227.86 | 1.86 | 25.68 | 220.69 | 0.85 | 18.06 | 117.95 | 0.12 | -45.45 | -25.0 | 12.06 | 158.24 | 169.2 | 242.64 | -0.6 | 41.16 | 68.89 | -80.86 | 126.5 | 31.11 | 111.97 | -91.36 | 8.20 | 111.34 | 55.3 |
| 23Q1 (17) | 13.65 | 110.65 | 191.67 | 8.23 | 298.79 | 447.26 | 2.27 | 113.58 | 80.16 | 2.09 | 113.62 | 113.27 | 1.48 | 120.33 | 348.48 | 0.72 | 132.58 | 157.14 | 0.22 | 37.5 | 57.14 | 4.67 | 134.29 | 34.2 | 244.11 | 16.75 | 61.35 | 360.00 | 1363.23 | 305.71 | -260.00 | -444.84 | -194.55 | 3.88 | -42.0 | -35.23 |
| 22Q4 (16) | 6.48 | 289.47 | -53.35 | -4.14 | 57.71 | -151.81 | -16.72 | -1338.52 | -657.33 | -15.34 | -1970.73 | -2092.21 | -7.28 | -2610.34 | -2241.18 | -2.21 | -790.62 | -812.9 | 0.16 | 23.08 | -15.79 | -13.62 | -375.15 | -383.16 | 209.08 | 13.59 | 68.38 | 24.60 | 103.45 | -90.63 | 75.40 | -90.72 | 146.4 | 6.69 | 6.02 | 19.25 |
| 22Q3 (15) | -3.42 | -1366.67 | -125.71 | -9.79 | -73.27 | -263.99 | 1.35 | -37.5 | -88.51 | 0.82 | -41.43 | -92.21 | 0.29 | -50.0 | -94.27 | 0.32 | -17.95 | -84.31 | 0.13 | -18.75 | -31.58 | 4.95 | 10.49 | -64.08 | 184.07 | 7.09 | 48.24 | -712.50 | -174.04 | -1508.81 | 812.50 | 125.69 | 1543.9 | 6.31 | 19.51 | 12.48 |
| 22Q2 (14) | 0.27 | -94.23 | -97.46 | -5.65 | -138.4 | -202.54 | 2.16 | 71.43 | -21.74 | 1.40 | 42.86 | -48.72 | 0.58 | 75.76 | -65.68 | 0.39 | 39.29 | -45.07 | 0.16 | 14.29 | -20.0 | 4.48 | 28.74 | -12.67 | 171.89 | 13.62 | -23.78 | -260.00 | -48.57 | -230.0 | 360.00 | 30.91 | 460.0 | 5.28 | -11.85 | 4.97 |
| 22Q1 (13) | 4.68 | -66.31 | -70.64 | -2.37 | -129.66 | -137.62 | 1.26 | -58.0 | -80.73 | 0.98 | 27.27 | -81.15 | 0.33 | -2.94 | -88.46 | 0.28 | -9.68 | -75.22 | 0.14 | -26.32 | -26.32 | 3.48 | -27.65 | -61.46 | 151.29 | 21.84 | -26.54 | -175.00 | -166.67 | -282.61 | 275.00 | 269.23 | 6500.0 | 5.99 | 6.77 | 8.71 |
| 21Q4 (12) | 13.89 | 4.44 | -14.52 | 7.99 | 33.84 | -23.98 | 3.00 | -74.47 | -61.98 | 0.77 | -92.68 | -87.48 | 0.34 | -93.28 | -92.74 | 0.31 | -84.8 | -81.76 | 0.19 | 0.0 | -20.83 | 4.81 | -65.09 | -51.8 | 124.17 | 0.0 | -33.44 | 262.50 | 419.03 | 95.68 | -162.50 | -428.78 | -393.52 | 5.61 | 0.0 | 15.91 |
| 21Q3 (11) | 13.30 | 25.12 | 2.94 | 5.97 | 8.35 | -30.9 | 11.75 | 325.72 | 53.19 | 10.52 | 285.35 | 69.95 | 5.06 | 199.41 | -4.17 | 2.04 | 187.32 | 23.64 | 0.19 | -5.0 | -24.0 | 13.78 | 168.62 | 52.43 | 124.17 | -44.94 | -49.86 | 50.57 | -74.71 | -54.69 | 49.43 | 149.43 | 486.42 | 5.61 | 11.53 | 37.5 |
| 21Q2 (10) | 10.63 | -33.31 | -23.58 | 5.51 | -12.54 | -27.02 | 2.76 | -57.8 | -57.01 | 2.73 | -47.5 | -36.81 | 1.69 | -40.91 | -16.34 | 0.71 | -37.17 | 2.9 | 0.20 | 5.26 | 33.33 | 5.13 | -43.19 | -37.89 | 225.52 | 9.5 | -3.48 | 200.00 | 108.7 | 68.89 | -100.00 | -2500.0 | -442.86 | 5.03 | -8.71 | 0 |
| 21Q1 (9) | 15.94 | -1.91 | 36.71 | 6.30 | -40.06 | 30.43 | 6.54 | -17.11 | 68.99 | 5.20 | -15.45 | 71.62 | 2.86 | -38.89 | 132.52 | 1.13 | -33.53 | 117.31 | 0.19 | -20.83 | 26.67 | 9.03 | -9.52 | 49.5 | 205.96 | 10.41 | -1.56 | 95.83 | -28.56 | -22.6 | 4.17 | 112.65 | 117.5 | 5.51 | 13.84 | -28.07 |
| 20Q4 (8) | 16.25 | 25.77 | -2.52 | 10.51 | 21.64 | 10.86 | 7.89 | 2.87 | 11.28 | 6.15 | -0.65 | 12.23 | 4.68 | -11.36 | 89.47 | 1.70 | 3.03 | 49.12 | 0.24 | -4.0 | 26.32 | 9.98 | 10.4 | 5.39 | 186.54 | -24.68 | 31.02 | 134.15 | 20.17 | 1.2 | -32.93 | -157.43 | -1.13 | 4.84 | 18.63 | -61.06 |
| 20Q3 (7) | 12.92 | -7.12 | 27.17 | 8.64 | 14.44 | 34.79 | 7.67 | 19.47 | 30.89 | 6.19 | 43.29 | 28.96 | 5.28 | 161.39 | 126.61 | 1.65 | 139.13 | 54.21 | 0.25 | 66.67 | 19.05 | 9.04 | 9.44 | 22.83 | 247.65 | 5.99 | 79.56 | 111.63 | -5.74 | 3.26 | -12.79 | 30.56 | -57.75 | 4.08 | 0 | 26.71 |
| 20Q2 (6) | 13.91 | 19.3 | 3.88 | 7.55 | 56.31 | 98.68 | 6.42 | 65.89 | 113.29 | 4.32 | 42.57 | 126.18 | 2.02 | 64.23 | 231.15 | 0.69 | 32.69 | 115.62 | 0.15 | 0.0 | 7.14 | 8.26 | 36.75 | 71.01 | 233.66 | 11.68 | 81.78 | 118.42 | -4.35 | -11.18 | -18.42 | 22.63 | 26.32 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 11.66 | -30.05 | 17.78 | 4.83 | -49.05 | 172.88 | 3.87 | -45.42 | 82.55 | 3.03 | -44.71 | 183.18 | 1.23 | -50.2 | 324.14 | 0.52 | -54.39 | 188.89 | 0.15 | -21.05 | 15.38 | 6.04 | -36.22 | 58.95 | 209.22 | 46.94 | 80.11 | 123.81 | -6.6 | 41.5 | -23.81 | 26.87 | -290.48 | 7.66 | -38.37 | 90.07 |
| 19Q4 (4) | 16.67 | 64.07 | 0.0 | 9.48 | 47.89 | 0.0 | 7.09 | 20.99 | 0.0 | 5.48 | 14.17 | 0.0 | 2.47 | 6.01 | 0.0 | 1.14 | 6.54 | 0.0 | 0.19 | -9.52 | 0.0 | 9.47 | 28.67 | 0.0 | 142.38 | 3.23 | 0.0 | 132.56 | 22.62 | 0.0 | -32.56 | -301.55 | 0.0 | 12.43 | 286.02 | 0.0 |
| 19Q3 (3) | 10.16 | -24.12 | 0.0 | 6.41 | 68.68 | 0.0 | 5.86 | 94.68 | 0.0 | 4.80 | 151.31 | 0.0 | 2.33 | 281.97 | 0.0 | 1.07 | 234.38 | 0.0 | 0.21 | 50.0 | 0.0 | 7.36 | 52.38 | 0.0 | 137.92 | 7.3 | 0.0 | 108.11 | -18.92 | 0.0 | -8.11 | 67.57 | 0.0 | 3.22 | -21.08 | 0.0 |
| 19Q2 (2) | 13.39 | 35.25 | 0.0 | 3.80 | 114.69 | 0.0 | 3.01 | 41.98 | 0.0 | 1.91 | 78.5 | 0.0 | 0.61 | 110.34 | 0.0 | 0.32 | 77.78 | 0.0 | 0.14 | 7.69 | 0.0 | 4.83 | 27.11 | 0.0 | 128.54 | 10.66 | 0.0 | 133.33 | 52.38 | 0.0 | -25.00 | -300.0 | 0.0 | 4.08 | 1.24 | 0.0 |
| 19Q1 (1) | 9.90 | 0.0 | 0.0 | 1.77 | 0.0 | 0.0 | 2.12 | 0.0 | 0.0 | 1.07 | 0.0 | 0.0 | 0.29 | 0.0 | 0.0 | 0.18 | 0.0 | 0.0 | 0.13 | 0.0 | 0.0 | 3.80 | 0.0 | 0.0 | 116.16 | 0.0 | 0.0 | 87.50 | 0.0 | 0.0 | 12.50 | 0.0 | 0.0 | 4.03 | 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) | 11.77 | 425.45 | 5.69 | 0 | 1.14 | 3.79 | 3.14 | 0 | 1.65 | 0 | 2.95 | 0 | 2.35 | 0 | 0.66 | 10.0 | 6.76 | 0 | 146.50 | -29.93 | 181.73 | 22.86 | -81.73 | 0 | 0.04 | 77.93 | 5.33 | -12.34 |
| 2022 (9) | 2.24 | -83.27 | -5.39 | 0 | 1.10 | 8.6 | -3.64 | 0 | -3.63 | 0 | -5.68 | 0 | -1.37 | 0 | 0.60 | -21.05 | -0.83 | 0 | 209.08 | 68.38 | 147.92 | 35.9 | -47.92 | 0 | 0.02 | -57.25 | 6.08 | 3.75 |
| 2021 (8) | 13.39 | -4.01 | 6.45 | -23.4 | 1.01 | -2.18 | 5.90 | -14.49 | 4.70 | -11.82 | 8.96 | -29.89 | 4.27 | -20.34 | 0.76 | -16.48 | 8.14 | -6.54 | 124.17 | -33.44 | 108.84 | -10.48 | -9.39 | 0 | 0.05 | -2.5 | 5.86 | 9.33 |
| 2020 (7) | 13.95 | 9.58 | 8.42 | 41.75 | 1.04 | -16.78 | 6.90 | 39.11 | 5.33 | 42.9 | 12.78 | 131.1 | 5.36 | 92.81 | 0.91 | 35.82 | 8.71 | 27.71 | 186.54 | 31.02 | 121.59 | 2.17 | -22.03 | 0 | 0.05 | -45.25 | 5.36 | -15.06 |
| 2019 (6) | 12.73 | -4.5 | 5.94 | 18.33 | 1.24 | 247.72 | 4.96 | 0.81 | 3.73 | -11.4 | 5.53 | -6.75 | 2.78 | -17.51 | 0.67 | -15.19 | 6.82 | 25.83 | 142.38 | 43.59 | 119.00 | 16.57 | -20.00 | 0 | 0.09 | -17.29 | 6.31 | 39.6 |
| 2018 (5) | 13.33 | -1.84 | 5.02 | -36.05 | 0.36 | 14.26 | 4.92 | -29.31 | 4.21 | -26.14 | 5.93 | -49.96 | 3.37 | -52.27 | 0.79 | -32.48 | 5.42 | -29.97 | 99.16 | 73.72 | 102.08 | -9.0 | -2.08 | 0 | 0.11 | 0 | 4.52 | 72.52 |
| 2017 (4) | 13.58 | -4.77 | 7.85 | -13.64 | 0.31 | 6.17 | 6.96 | -18.69 | 5.70 | -19.15 | 11.85 | -49.72 | 7.06 | -45.94 | 1.17 | -35.0 | 7.74 | -15.32 | 57.08 | -50.86 | 112.18 | 5.43 | -12.82 | 0 | 0.00 | 0 | 2.62 | 3.97 |
| 2016 (3) | 14.26 | -15.52 | 9.09 | -14.65 | 0.29 | 105.6 | 8.56 | -16.97 | 7.05 | -34.6 | 23.57 | -2.52 | 13.06 | -14.25 | 1.80 | 31.39 | 9.14 | -15.6 | 116.16 | 116.11 | 106.40 | 3.53 | -5.91 | 0 | 0.00 | 0 | 2.52 | -35.22 |
| 2015 (2) | 16.88 | 21.26 | 10.65 | 154.18 | 0.14 | -54.73 | 10.31 | 113.9 | 10.78 | 50.35 | 24.18 | 92.98 | 15.23 | 89.9 | 1.37 | 24.55 | 10.83 | 107.07 | 53.75 | -28.42 | 102.78 | 18.59 | -3.47 | 0 | 0.00 | 0 | 3.89 | -30.66 |
| 2014 (1) | 13.92 | 0 | 4.19 | 0 | 0.32 | -96.27 | 4.82 | 0 | 7.17 | 0 | 12.53 | 0 | 8.02 | 0 | 1.10 | 120.0 | 5.23 | 0 | 75.09 | 898.54 | 86.67 | -9.14 | 13.33 | 188.89 | 0.00 | 0 | 5.61 | -83.47 |
