- 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) | 8.97 | 6.66 | -10.57 | 0.19 | 108.92 | -86.99 | 0.20 | 106.78 | -69.23 | -0.13 | 93.53 | 0 | -0.15 | 91.85 | 0 | 0.18 | 150.0 | -33.33 | 0.35 | 20.69 | 9.37 | 2.37 | 1011.54 | -25.24 | 199.82 | -9.1 | -6.79 | 100.00 | 50.0 | -50.0 | 0.00 | -100.0 | 100.0 | 13.09 | 4.39 | 11.21 |
| 23Q3 (19) | 8.41 | -15.9 | -30.95 | -2.13 | -117.35 | -267.72 | -2.95 | -332.28 | -190.77 | -2.01 | -234.9 | -173.09 | -1.84 | -233.33 | -162.16 | -0.36 | -148.65 | -130.77 | 0.29 | -6.45 | -14.71 | -0.26 | -106.86 | -105.14 | 219.83 | 8.72 | 9.05 | 66.67 | 183.33 | 66.67 | 25.00 | -86.11 | -58.33 | 12.54 | 16.76 | 33.55 |
| 23Q2 (18) | 10.00 | 22.25 | -8.26 | -0.98 | 24.62 | -157.31 | 1.27 | 142.47 | -62.54 | 1.49 | 148.53 | -43.56 | 1.38 | 150.74 | -59.05 | 0.74 | 219.35 | -41.27 | 0.31 | 6.9 | -20.51 | 3.79 | 1557.69 | -29.29 | 202.19 | 4.23 | -12.49 | -80.00 | -292.0 | -260.0 | 180.00 | 208.57 | 260.0 | 10.74 | -2.36 | 20.81 |
| 23Q1 (17) | 8.18 | -18.44 | 0.86 | -1.30 | -189.04 | -381.48 | -2.99 | -560.0 | -110.56 | -3.07 | 0 | -153.72 | -2.72 | 0 | -91.55 | -0.62 | -329.63 | -210.0 | 0.29 | -9.38 | -21.62 | -0.26 | -108.2 | -131.71 | 193.98 | -9.51 | -14.08 | 41.67 | -79.17 | 191.67 | 58.33 | 143.75 | -31.94 | 11.00 | -6.54 | 21.82 |
| 22Q4 (16) | 10.03 | -17.65 | 13.21 | 1.46 | 14.96 | 192.0 | 0.65 | -80.0 | 251.16 | 0.00 | -100.0 | -100.0 | 0.00 | -100.0 | -100.0 | 0.27 | -76.92 | -30.77 | 0.32 | -5.88 | -20.0 | 3.17 | -37.35 | 79.1 | 214.37 | 6.34 | 0.7 | 200.00 | 400.0 | 233.33 | -133.33 | -322.22 | -153.33 | 11.77 | 25.35 | 29.48 |
| 22Q3 (15) | 12.18 | 11.74 | 11.85 | 1.27 | -25.73 | -56.51 | 3.25 | -4.13 | 28.46 | 2.75 | 4.17 | 55.37 | 2.96 | -12.17 | 45.81 | 1.17 | -7.14 | 32.95 | 0.34 | -12.82 | -5.56 | 5.06 | -5.6 | 5.86 | 201.58 | -12.75 | -2.94 | 40.00 | -20.0 | -63.08 | 60.00 | 20.0 | 460.0 | 9.39 | 5.62 | 2.51 |
| 22Q2 (14) | 10.90 | 34.4 | 13.19 | 1.71 | 733.33 | -36.9 | 3.39 | 338.73 | 77.49 | 2.64 | 318.18 | 23.36 | 3.37 | 337.32 | 26.69 | 1.26 | 730.0 | 21.15 | 0.39 | 5.41 | 5.41 | 5.36 | 553.66 | 27.32 | 231.05 | 2.34 | 3.18 | 50.00 | 250.0 | -65.38 | 50.00 | -41.67 | 212.5 | 8.89 | -1.55 | 3.13 |
| 22Q1 (13) | 8.11 | -8.47 | -30.39 | -0.27 | -154.0 | -108.6 | -1.42 | -230.23 | -146.1 | -1.21 | -410.26 | -148.02 | -1.42 | -389.8 | -141.16 | -0.20 | -151.28 | -116.95 | 0.37 | -7.5 | -2.63 | 0.82 | -53.67 | -84.59 | 225.76 | 6.05 | -8.86 | 14.29 | 109.52 | -86.67 | 85.71 | -65.71 | 0 | 9.03 | -0.66 | 1.92 |
| 21Q4 (12) | 8.86 | -18.64 | -26.23 | 0.50 | -82.88 | -88.51 | -0.43 | -117.0 | -113.52 | 0.39 | -77.97 | -82.89 | 0.49 | -75.86 | -86.86 | 0.39 | -55.68 | -68.8 | 0.40 | 11.11 | -11.11 | 1.77 | -62.97 | -65.29 | 212.88 | 2.5 | -24.88 | -150.00 | -238.46 | -209.09 | 250.00 | 1600.0 | 766.67 | 9.09 | -0.76 | 4.36 |
| 21Q3 (11) | 10.89 | 13.08 | -7.48 | 2.92 | 7.75 | 22.18 | 2.53 | 32.46 | 212.35 | 1.77 | -17.29 | 436.36 | 2.03 | -23.68 | 361.36 | 0.88 | -15.38 | 131.58 | 0.36 | -2.7 | -10.0 | 4.78 | 13.54 | 47.99 | 207.69 | -7.25 | -15.71 | 108.33 | -25.0 | -67.5 | -16.67 | 62.5 | 91.67 | 9.16 | 6.26 | -2.45 |
| 21Q2 (10) | 9.63 | -17.34 | -44.24 | 2.71 | -13.69 | 7.11 | 1.91 | -37.99 | -37.17 | 2.14 | -15.08 | 11.46 | 2.66 | -22.9 | 15.15 | 1.04 | -11.86 | 2.97 | 0.37 | -2.63 | -9.76 | 4.21 | -20.86 | -24.42 | 223.93 | -9.6 | 3.91 | 144.44 | 34.81 | 76.54 | -44.44 | 0 | -344.44 | 8.62 | -2.71 | 0 |
| 21Q1 (9) | 11.65 | -3.0 | -14.02 | 3.14 | -27.82 | 223.62 | 3.08 | -3.14 | 194.19 | 2.52 | 10.53 | 173.47 | 3.45 | -7.51 | 255.41 | 1.18 | -5.6 | 307.02 | 0.38 | -15.56 | 58.33 | 5.32 | 4.31 | 247.71 | 247.71 | -12.59 | 44.82 | 107.14 | -22.08 | 28.57 | 0.00 | 100.0 | -100.0 | 8.86 | 1.72 | 0 |
| 20Q4 (8) | 12.01 | 2.04 | 38.05 | 4.35 | 82.01 | 257.04 | 3.18 | 292.59 | 143.03 | 2.28 | 590.91 | 127.94 | 3.73 | 747.73 | 163.98 | 1.25 | 228.95 | 162.81 | 0.45 | 12.5 | 60.71 | 5.10 | 57.89 | 265.58 | 283.40 | 15.02 | 70.61 | 137.50 | -58.75 | 289.58 | -37.50 | 81.25 | -157.95 | 8.71 | -7.24 | -42.85 |
| 20Q3 (7) | 11.77 | -31.85 | 34.05 | 2.39 | -5.53 | 135.89 | 0.81 | -73.36 | 113.13 | 0.33 | -82.81 | 104.22 | 0.44 | -80.95 | 109.11 | 0.38 | -62.38 | 122.62 | 0.40 | -2.44 | 48.15 | 3.23 | -42.01 | 329.08 | 246.39 | 14.33 | 69.26 | 333.33 | 307.41 | 209.52 | -200.00 | -1200.0 | -2500.0 | 9.39 | 0 | -42.99 |
| 20Q2 (6) | 17.27 | 27.45 | 43.68 | 2.53 | 199.61 | 138.33 | 3.04 | 192.97 | 146.48 | 1.92 | 155.98 | 126.23 | 2.31 | 204.05 | 159.69 | 1.01 | 277.19 | 166.45 | 0.41 | 70.83 | 70.83 | 5.57 | 264.05 | 373.04 | 215.51 | 25.99 | 87.79 | 81.82 | -1.82 | -18.18 | 18.18 | 9.09 | 0 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 13.55 | 55.75 | 21.2 | -2.54 | 8.3 | 63.35 | -3.27 | 55.75 | 66.84 | -3.43 | 57.97 | 58.22 | -2.22 | 61.92 | 45.59 | -0.57 | 71.36 | 62.99 | 0.24 | -14.29 | 9.09 | 1.53 | 149.68 | 129.09 | 171.05 | 2.97 | 46.26 | 83.33 | 136.11 | 21.79 | 16.67 | -74.24 | -47.22 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 8.70 | -0.91 | 0.0 | -2.77 | 58.41 | 0.0 | -7.39 | -19.77 | 0.0 | -8.16 | -4.35 | 0.0 | -5.83 | -20.7 | 0.0 | -1.99 | -18.45 | 0.0 | 0.28 | 3.7 | 0.0 | -3.08 | -118.44 | 0.0 | 166.11 | 14.11 | 0.0 | 35.29 | -67.23 | 0.0 | 64.71 | 941.18 | 0.0 | 15.24 | -7.47 | 0.0 |
| 19Q3 (3) | 8.78 | -26.96 | 0.0 | -6.66 | -0.91 | 0.0 | -6.17 | 5.66 | 0.0 | -7.82 | -6.83 | 0.0 | -4.83 | -24.81 | 0.0 | -1.68 | -10.53 | 0.0 | 0.27 | 12.5 | 0.0 | -1.41 | 30.88 | 0.0 | 145.57 | 26.85 | 0.0 | 107.69 | 7.69 | 0.0 | -7.69 | 0 | 0.0 | 16.47 | -11.02 | 0.0 |
| 19Q2 (2) | 12.02 | 7.51 | 0.0 | -6.60 | 4.76 | 0.0 | -6.54 | 33.67 | 0.0 | -7.32 | 10.84 | 0.0 | -3.87 | 5.15 | 0.0 | -1.52 | 1.3 | 0.0 | 0.24 | 9.09 | 0.0 | -2.04 | 61.22 | 0.0 | 114.76 | -1.87 | 0.0 | 100.00 | 46.15 | 0.0 | -0.00 | -100.0 | 0.0 | 18.51 | -0.05 | 0.0 |
| 19Q1 (1) | 11.18 | 0.0 | 0.0 | -6.93 | 0.0 | 0.0 | -9.86 | 0.0 | 0.0 | -8.21 | 0.0 | 0.0 | -4.08 | 0.0 | 0.0 | -1.54 | 0.0 | 0.0 | 0.22 | 0.0 | 0.0 | -5.26 | 0.0 | 0.0 | 116.95 | 0.0 | 0.0 | 68.42 | 0.0 | 0.0 | 31.58 | 0.0 | 0.0 | 18.52 | 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) | 8.90 | -13.76 | -1.00 | 0 | 1.34 | 8.58 | -1.05 | 0 | -0.88 | 0 | -3.37 | 0 | -0.08 | 0 | 1.24 | -14.48 | 1.41 | -61.48 | 199.82 | -6.79 | 94.12 | 41.18 | 5.88 | -80.39 | 0.08 | 11.2 | 11.90 | 22.68 |
| 2022 (9) | 10.32 | 0.98 | 1.05 | -53.95 | 1.24 | -12.26 | 1.53 | -11.05 | 1.11 | -33.93 | 5.04 | -42.99 | 2.61 | -26.27 | 1.45 | -5.23 | 3.66 | -7.81 | 214.37 | 0.7 | 66.67 | -50.0 | 30.00 | 0 | 0.07 | -7.91 | 9.70 | 8.62 |
| 2021 (8) | 10.22 | -23.96 | 2.28 | -6.56 | 1.41 | -23.25 | 1.72 | 5.52 | 1.68 | 88.76 | 8.84 | 110.48 | 3.54 | 62.39 | 1.53 | 6.25 | 3.97 | -5.92 | 212.88 | -24.88 | 133.33 | -11.11 | -33.33 | 0 | 0.08 | 0 | 8.93 | -11.06 |
| 2020 (7) | 13.44 | 33.33 | 2.44 | 0 | 1.84 | -36.82 | 1.63 | 0 | 0.89 | 0 | 4.20 | 0 | 2.18 | 0 | 1.44 | 48.45 | 4.22 | 0 | 283.40 | 70.61 | 150.00 | 94.68 | -50.00 | 0 | 0.00 | 0 | 10.04 | -41.25 |
| 2019 (6) | 10.08 | -50.17 | -5.64 | 0 | 2.91 | 78.99 | -7.44 | 0 | -7.89 | 0 | -18.85 | 0 | -6.42 | 0 | 0.97 | -14.16 | -2.91 | 0 | 166.11 | 24.96 | 77.05 | -33.22 | 24.59 | 0 | 0.00 | 0 | 17.09 | -3.12 |
| 2018 (5) | 20.23 | 15.73 | 2.87 | -17.05 | 1.63 | -1.63 | 2.47 | -10.83 | 1.86 | -25.3 | 5.17 | -31.61 | 3.16 | -16.62 | 1.13 | 0.0 | 5.35 | -3.43 | 132.93 | -15.5 | 115.38 | -7.05 | -15.38 | 0 | 0.00 | 0 | 17.64 | 1.09 |
| 2017 (4) | 17.48 | -9.71 | 3.46 | 105.95 | 1.65 | -50.93 | 2.77 | -86.17 | 2.49 | -87.12 | 7.56 | -90.76 | 3.79 | -82.05 | 1.13 | 9.71 | 5.54 | -77.77 | 157.31 | -12.6 | 124.14 | 1381.38 | -24.14 | 0 | 0.00 | 0 | 17.45 | -1.86 |
| 2016 (3) | 19.36 | 26.78 | 1.68 | 0 | 3.37 | -57.33 | 20.03 | 0 | 19.33 | 0 | 81.80 | 0 | 21.11 | 0 | 1.03 | 45.07 | 24.92 | 415.94 | 179.99 | -73.48 | 8.38 | -95.34 | 91.62 | 0 | 0.00 | 0 | 17.78 | -26.56 |
| 2015 (2) | 15.27 | 0 | -9.51 | 0 | 7.89 | -7.23 | -5.35 | 0 | -5.63 | 0 | -35.69 | 0 | -2.73 | 0 | 0.71 | 1.43 | 4.83 | 0 | 678.64 | -22.24 | 180.00 | 154.44 | -77.78 | 0 | 0.00 | 0 | 24.21 | -18.29 |
| 2014 (1) | -12.36 | 0 | -38.99 | 0 | 8.51 | 10.17 | -55.12 | 0 | -55.21 | 0 | -150.22 | 0 | -37.50 | 0 | 0.70 | -17.65 | -44.74 | 0 | 872.75 | 337.16 | 70.74 | -17.59 | 29.26 | 106.72 | 0.00 | 0 | 29.63 | -3.67 |
