- 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) | 15.13 | -30.98 | -11.93 | -15.02 | -5676.92 | -37.17 | -15.82 | -499.24 | 4.53 | -11.31 | -685.42 | 35.19 | -8.58 | -666.07 | 14.8 | -2.58 | -2050.0 | 26.7 | 0.26 | 0.0 | 18.18 | -11.47 | -1320.21 | 2.8 | 195.55 | 2.33 | 20.8 | 94.91 | 849.11 | 43.26 | 5.09 | -94.35 | -85.03 | 10.57 | -2.67 | -16.57 |
| 23Q3 (19) | 21.92 | -7.2 | 19.98 | -0.26 | -136.62 | 96.33 | -2.64 | -160.83 | -104.78 | -1.44 | -135.47 | -103.95 | -1.12 | -135.56 | -103.53 | -0.12 | -107.89 | -101.16 | 0.26 | -7.14 | -7.14 | 0.94 | -88.61 | -98.4 | 191.10 | -3.73 | 17.24 | 10.00 | -37.89 | 177.78 | 90.00 | 7.27 | -20.25 | 10.86 | 5.33 | -13.12 |
| 23Q2 (18) | 23.62 | 21.31 | 5.49 | 0.71 | 105.42 | -82.34 | 4.34 | 129.79 | 19.56 | 4.06 | 134.55 | 43.97 | 3.15 | 151.39 | -4.26 | 1.52 | 174.15 | 39.45 | 0.28 | 40.0 | -3.45 | 8.25 | 189.19 | 17.02 | 198.50 | 30.11 | -34.6 | 16.10 | -82.09 | -85.42 | 83.90 | 730.3 | 842.18 | 10.31 | -25.29 | 17.43 |
| 23Q1 (17) | 19.47 | 13.33 | -2.65 | -13.11 | -19.73 | -4420.69 | -14.57 | 12.07 | -1501.1 | -11.75 | 32.66 | -1680.3 | -6.13 | 39.13 | -728.38 | -2.05 | 41.76 | -3516.67 | 0.20 | -9.09 | -28.57 | -9.25 | 21.61 | -465.61 | 152.56 | -5.76 | -49.21 | 89.90 | 35.69 | 169.69 | 10.10 | -70.28 | -84.84 | 13.80 | 8.92 | 41.1 |
| 22Q4 (16) | 17.18 | -5.97 | -13.45 | -10.95 | -54.66 | -27275.0 | -16.57 | -130.03 | -1493.27 | -17.45 | -147.9 | -2392.86 | -10.07 | -131.71 | -960.0 | -3.52 | -134.01 | 0 | 0.22 | -21.43 | -33.33 | -11.80 | -120.08 | -786.05 | 161.88 | -0.69 | -48.06 | 66.25 | 615.28 | 1092.5 | 34.00 | -69.87 | -65.03 | 12.67 | 1.36 | 43.81 |
| 22Q3 (15) | 18.27 | -18.4 | -6.98 | -7.08 | -276.12 | -598.59 | 55.18 | 1420.11 | 2835.11 | 36.43 | 1191.84 | 2030.41 | 31.76 | 865.35 | 1305.31 | 10.35 | 849.54 | 1226.92 | 0.28 | -3.45 | -15.15 | 58.76 | 733.48 | 1166.38 | 163.00 | -46.3 | -48.92 | -12.86 | -111.64 | -117.23 | 112.86 | 1098.35 | 374.0 | 12.50 | 42.37 | 36.61 |
| 22Q2 (14) | 22.39 | 11.95 | -7.36 | 4.02 | 1486.21 | -8.22 | 3.63 | 498.9 | 9.34 | 2.82 | 527.27 | 33.02 | 3.29 | 544.59 | 34.29 | 1.09 | 1716.67 | 23.86 | 0.29 | 3.57 | -9.38 | 7.05 | 178.66 | 14.63 | 303.53 | 1.05 | 6.22 | 110.43 | 231.3 | -15.9 | -11.30 | -116.96 | 63.9 | 8.78 | -10.22 | -17.01 |
| 22Q1 (13) | 20.00 | 0.76 | -6.37 | -0.29 | -625.0 | -121.32 | -0.91 | 12.5 | -450.0 | -0.66 | 5.71 | -650.0 | -0.74 | 22.11 | -716.67 | 0.06 | 0 | -73.91 | 0.28 | -15.15 | -3.45 | 2.53 | 47.09 | -27.09 | 300.38 | -3.62 | 24.71 | 33.33 | 500.0 | -93.52 | 66.67 | -31.43 | 116.09 | 9.78 | 11.01 | -13.37 |
| 21Q4 (12) | 19.85 | 1.07 | -11.62 | -0.04 | -102.82 | -101.9 | -1.04 | -155.32 | -196.3 | -0.70 | -140.94 | -163.06 | -0.95 | -142.04 | -177.24 | 0.00 | -100.0 | -100.0 | 0.33 | 0.0 | 3.13 | 1.72 | -62.93 | -56.01 | 311.65 | -2.33 | 28.08 | 5.56 | -92.55 | -97.13 | 97.22 | 308.33 | 203.7 | 8.81 | -3.72 | -22.17 |
| 21Q3 (11) | 19.64 | -18.74 | -22.86 | 1.42 | -67.58 | -82.75 | 1.88 | -43.37 | -72.55 | 1.71 | -19.34 | -64.23 | 2.26 | -7.76 | -65.76 | 0.78 | -11.36 | -61.58 | 0.33 | 3.13 | -13.16 | 4.64 | -24.55 | -49.57 | 319.09 | 11.67 | 29.15 | 74.60 | -43.19 | -37.79 | 23.81 | 176.04 | 219.55 | 9.15 | -13.52 | -9.94 |
| 21Q2 (10) | 24.17 | 13.16 | -0.9 | 4.38 | 222.06 | -29.7 | 3.32 | 1176.92 | -36.64 | 2.12 | 1666.67 | -43.01 | 2.45 | 1941.67 | -44.82 | 0.88 | 282.61 | -39.31 | 0.32 | 10.34 | 0.0 | 6.15 | 77.23 | -25.0 | 285.75 | 18.63 | 3.11 | 131.31 | -74.47 | 10.66 | -31.31 | 92.44 | -67.75 | 10.58 | -6.29 | 0 |
| 21Q1 (9) | 21.36 | -4.9 | -14.53 | 1.36 | -35.55 | 112.5 | 0.26 | -75.93 | -23.53 | 0.12 | -89.19 | 100.0 | 0.12 | -90.24 | 100.0 | 0.23 | -58.18 | -17.86 | 0.29 | -9.38 | 11.54 | 3.47 | -11.25 | -19.68 | 240.87 | -1.01 | -7.14 | 514.29 | 165.44 | 193.88 | -414.29 | -341.9 | -373.47 | 11.29 | -0.27 | 0 |
| 20Q4 (8) | 22.46 | -11.78 | -3.15 | 2.11 | -74.36 | 41.61 | 1.08 | -84.23 | 460.0 | 1.11 | -76.78 | 426.47 | 1.23 | -81.36 | 432.43 | 0.55 | -72.91 | 189.47 | 0.32 | -15.79 | 6.67 | 3.91 | -57.5 | 27.78 | 243.32 | -1.52 | -7.38 | 193.75 | 61.57 | 138.75 | -93.75 | -370.74 | -115.62 | 11.32 | 11.42 | 7.5 |
| 20Q3 (7) | 25.46 | 4.39 | 17.92 | 8.23 | 32.1 | 86.62 | 6.85 | 30.73 | 84.14 | 4.78 | 28.49 | 72.56 | 6.60 | 48.65 | 67.94 | 2.03 | 40.0 | 45.0 | 0.38 | 18.75 | -5.0 | 9.20 | 12.2 | 40.89 | 247.07 | -10.85 | -6.19 | 119.92 | 1.05 | 0.57 | -19.92 | -6.69 | -7.87 | 10.16 | 0 | 8.78 |
| 20Q2 (6) | 24.39 | -2.4 | 6.65 | 6.23 | 873.44 | 57.72 | 5.24 | 1441.18 | 45.15 | 3.72 | 6100.0 | 40.38 | 4.44 | 7300.0 | 41.4 | 1.45 | 417.86 | 16.94 | 0.32 | 23.08 | -11.11 | 8.20 | 89.81 | 20.59 | 277.14 | 6.85 | 11.79 | 118.67 | -32.19 | 8.52 | -18.67 | 78.67 | -99.73 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 24.99 | 7.76 | 4.0 | 0.64 | -57.05 | -58.17 | 0.34 | 213.33 | 13.33 | 0.06 | 117.65 | -78.57 | 0.06 | 116.22 | -76.92 | 0.28 | 47.37 | -26.32 | 0.26 | -13.33 | -13.33 | 4.32 | 41.18 | 2.37 | 259.38 | -1.26 | 20.02 | 175.00 | 135.0 | -66.89 | -87.50 | -114.58 | 79.58 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 23.19 | 7.41 | 0.0 | 1.49 | -66.21 | 0.0 | -0.30 | -108.06 | 0.0 | -0.34 | -112.27 | 0.0 | -0.37 | -109.41 | 0.0 | 0.19 | -86.43 | 0.0 | 0.30 | -25.0 | 0.0 | 3.06 | -53.14 | 0.0 | 262.70 | -0.25 | 0.0 | -500.00 | -519.35 | 0.0 | 600.00 | 3350.0 | 0.0 | 10.53 | 12.74 | 0.0 |
| 19Q3 (3) | 21.59 | -5.6 | 0.0 | 4.41 | 11.65 | 0.0 | 3.72 | 3.05 | 0.0 | 2.77 | 4.53 | 0.0 | 3.93 | 25.16 | 0.0 | 1.40 | 12.9 | 0.0 | 0.40 | 11.11 | 0.0 | 6.53 | -3.97 | 0.0 | 263.37 | 6.23 | 0.0 | 119.23 | 9.04 | 0.0 | -18.46 | -97.54 | 0.0 | 9.34 | -9.5 | 0.0 |
| 19Q2 (2) | 22.87 | -4.83 | 0.0 | 3.95 | 158.17 | 0.0 | 3.61 | 1103.33 | 0.0 | 2.65 | 846.43 | 0.0 | 3.14 | 1107.69 | 0.0 | 1.24 | 226.32 | 0.0 | 0.36 | 20.0 | 0.0 | 6.80 | 61.14 | 0.0 | 247.92 | 14.72 | 0.0 | 109.35 | -79.31 | 0.0 | -9.35 | 97.82 | 0.0 | 10.32 | -13.13 | 0.0 |
| 19Q1 (1) | 24.03 | 0.0 | 0.0 | 1.53 | 0.0 | 0.0 | 0.30 | 0.0 | 0.0 | 0.28 | 0.0 | 0.0 | 0.26 | 0.0 | 0.0 | 0.38 | 0.0 | 0.0 | 0.30 | 0.0 | 0.0 | 4.22 | 0.0 | 0.0 | 216.11 | 0.0 | 0.0 | 528.57 | 0.0 | 0.0 | -428.57 | 0.0 | 0.0 | 11.88 | 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) | 20.18 | 3.01 | -6.29 | 0 | 2.10 | 0.64 | -6.42 | 0 | -4.47 | 0 | -12.65 | 0 | -3.24 | 0 | 1.02 | -9.73 | -2.21 | 0 | 195.55 | 20.8 | 97.94 | 0 | 2.06 | -98.36 | 6.24 | 50.93 | 11.22 | 3.41 |
| 2022 (9) | 19.59 | -7.38 | -3.17 | 0 | 2.09 | 22.17 | 12.32 | 1062.26 | 6.89 | 761.25 | 25.01 | 551.3 | 9.04 | 383.42 | 1.13 | -11.72 | 16.08 | 308.12 | 161.88 | -48.06 | -25.73 | 0 | 125.80 | 0 | 4.14 | 0.93 | 10.85 | 10.15 |
| 2021 (8) | 21.15 | -13.11 | 1.71 | -63.62 | 1.71 | 1.93 | 1.06 | -71.51 | 0.80 | -69.92 | 3.84 | -68.4 | 1.87 | -57.01 | 1.28 | -0.78 | 3.94 | -40.84 | 311.65 | 28.08 | 161.36 | 27.71 | -60.61 | 0 | 4.10 | -16.97 | 9.85 | -9.55 |
| 2020 (7) | 24.34 | 6.75 | 4.70 | 55.63 | 1.68 | -4.29 | 3.72 | 82.35 | 2.66 | 77.33 | 12.15 | 72.83 | 4.35 | 32.22 | 1.29 | -7.19 | 6.66 | 25.19 | 243.32 | -7.38 | 126.35 | -14.2 | -26.35 | 0 | 4.94 | -14.93 | 10.89 | 4.71 |
| 2019 (6) | 22.80 | -3.63 | 3.02 | -28.1 | 1.75 | 73.82 | 2.04 | -43.49 | 1.50 | -50.0 | 7.03 | -50.49 | 3.29 | -39.85 | 1.39 | -5.44 | 5.32 | -12.36 | 262.70 | 22.65 | 147.26 | 26.43 | -47.26 | 0 | 5.80 | -14.3 | 10.40 | -3.88 |
| 2018 (5) | 23.66 | -3.39 | 4.20 | -22.65 | 1.01 | 4.62 | 3.61 | -23.84 | 3.00 | -13.54 | 14.20 | -15.27 | 5.47 | -11.63 | 1.47 | -5.16 | 6.07 | -10.87 | 214.19 | -6.62 | 116.47 | 1.59 | -16.47 | 0 | 6.77 | 0 | 10.82 | 6.81 |
| 2017 (4) | 24.49 | 0.49 | 5.43 | -21.19 | 0.96 | -24.27 | 4.74 | -28.94 | 3.47 | -36.1 | 16.76 | 1.76 | 6.19 | -12.57 | 1.55 | 31.36 | 6.81 | -22.35 | 229.38 | 18.33 | 114.64 | 10.81 | -14.64 | 0 | 0.00 | 0 | 10.13 | -7.74 |
| 2016 (3) | 24.37 | 28.33 | 6.89 | 53.79 | 1.27 | -22.75 | 6.67 | 222.22 | 5.43 | 417.14 | 16.47 | 449.0 | 7.08 | 235.55 | 1.18 | -7.09 | 8.77 | 94.89 | 193.85 | 60.75 | 103.46 | -52.04 | -3.25 | 0 | 0.00 | 0 | 10.98 | 2.71 |
| 2015 (2) | 18.99 | 11.05 | 4.48 | 35.35 | 1.65 | -20.69 | 2.07 | -16.87 | 1.05 | -56.97 | 3.00 | -61.44 | 2.11 | -47.77 | 1.27 | -3.05 | 4.50 | -16.2 | 120.59 | -7.45 | 215.71 | 62.28 | -115.71 | 0 | 0.00 | 0 | 10.69 | -0.19 |
| 2014 (1) | 17.10 | 0 | 3.31 | 0 | 2.08 | -14.38 | 2.49 | 0 | 2.44 | 0 | 7.78 | 0 | 4.04 | 0 | 1.31 | 1.55 | 5.37 | 51.69 | 130.30 | -17.83 | 132.93 | -33.54 | -32.93 | 0 | 0.00 | 0 | 10.71 | -1.56 |
