- 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) | 6.33 | 1.77 | -13.17 | 2.47 | -20.06 | -41.33 | 6.59 | 144.98 | 79.08 | 6.16 | 182.57 | 106.71 | 9.18 | 230.22 | 107.22 | 4.89 | 207.55 | 107.2 | 0.78 | 14.71 | 4.0 | 7.44 | 107.82 | 70.64 | 100.51 | 23.23 | 10.15 | 37.50 | -67.65 | -67.32 | 62.50 | 492.86 | 523.61 | 1.89 | 22.73 | 2.16 |
| 23Q3 (19) | 6.22 | 1.8 | 15.4 | 3.09 | -4.33 | -18.25 | 2.69 | -16.72 | -29.21 | 2.18 | -15.5 | -27.81 | 2.78 | -34.28 | -50.0 | 1.59 | -25.7 | -42.18 | 0.68 | -13.92 | -21.84 | 3.58 | -9.6 | -16.16 | 81.56 | -11.33 | -24.01 | 115.91 | 15.91 | 17.5 | -15.91 | 0 | 0 | 1.54 | -3.75 | 71.11 |
| 23Q2 (18) | 6.11 | 2.52 | -16.3 | 3.23 | 8.75 | -20.83 | 3.23 | 11.38 | -19.45 | 2.58 | 11.21 | -19.12 | 4.23 | -6.21 | -21.38 | 2.14 | -5.73 | -9.32 | 0.79 | -15.05 | 12.86 | 3.96 | 14.78 | -15.02 | 91.98 | -27.14 | -19.22 | 100.00 | -3.08 | -1.67 | 0.00 | 100.0 | 100.0 | 1.60 | 23.08 | -3.03 |
| 23Q1 (17) | 5.96 | -18.24 | 39.58 | 2.97 | -29.45 | 59.68 | 2.90 | -21.2 | 65.71 | 2.32 | -22.15 | 64.54 | 4.51 | 1.81 | 48.36 | 2.27 | -3.81 | 108.26 | 0.93 | 24.0 | 32.86 | 3.45 | -20.87 | 41.39 | 126.25 | 38.36 | -28.56 | 103.17 | -10.09 | -3.94 | -1.59 | 89.24 | 78.57 | 1.30 | -29.73 | 7.44 |
| 22Q4 (16) | 7.29 | 35.25 | 72.75 | 4.21 | 11.38 | 164.78 | 3.68 | -3.16 | 199.19 | 2.98 | -1.32 | 220.43 | 4.43 | -20.32 | 107.01 | 2.36 | -14.18 | 184.34 | 0.75 | -13.79 | -3.85 | 4.36 | 2.11 | 121.32 | 91.25 | -14.98 | -62.67 | 114.75 | 16.33 | -11.73 | -14.75 | 0 | 50.82 | 1.85 | 105.56 | 29.37 |
| 22Q3 (15) | 5.39 | -26.16 | -10.02 | 3.78 | -7.35 | 57.5 | 3.80 | -5.24 | 127.54 | 3.02 | -5.33 | 143.55 | 5.56 | 3.35 | 180.81 | 2.75 | 16.53 | 248.1 | 0.87 | 24.29 | 67.31 | 4.27 | -8.37 | 45.24 | 107.33 | -5.74 | -26.67 | 98.65 | -3.0 | -29.54 | 0.00 | 100.0 | 100.0 | 0.90 | -45.45 | -55.67 |
| 22Q2 (14) | 7.30 | 70.96 | 75.9 | 4.08 | 119.35 | 416.46 | 4.01 | 129.14 | 106.7 | 3.19 | 126.24 | 74.32 | 5.38 | 76.97 | 13.5 | 2.36 | 116.51 | 74.81 | 0.70 | 0.0 | 6.06 | 4.66 | 90.98 | 53.8 | 113.86 | -35.57 | -64.72 | 101.69 | -5.32 | 166.95 | -1.69 | 77.12 | -102.97 | 1.65 | 36.36 | 7.14 |
| 22Q1 (13) | 4.27 | 1.18 | -26.0 | 1.86 | 16.98 | -15.45 | 1.75 | 42.28 | -6.42 | 1.41 | 51.61 | -3.42 | 3.04 | 42.06 | -1.62 | 1.09 | 31.33 | 6.86 | 0.70 | -10.26 | 16.67 | 2.44 | 23.86 | -24.22 | 176.71 | -27.71 | -33.56 | 107.41 | -17.38 | -9.55 | -7.41 | 75.31 | 60.49 | 1.21 | -15.38 | -33.15 |
| 21Q4 (12) | 4.22 | -29.55 | -49.94 | 1.59 | -33.75 | -48.21 | 1.23 | -26.35 | -59.41 | 0.93 | -25.0 | -62.04 | 2.14 | 8.08 | -59.16 | 0.83 | 5.06 | -50.89 | 0.78 | 50.0 | 23.81 | 1.97 | -32.99 | -55.33 | 244.44 | 67.01 | -0.69 | 130.00 | -7.14 | 25.0 | -30.00 | 25.0 | 0 | 1.43 | -29.56 | -43.48 |
| 21Q3 (11) | 5.99 | 44.34 | 2.74 | 2.40 | 203.8 | 328.57 | 1.67 | -13.92 | 595.83 | 1.24 | -32.24 | 588.89 | 1.98 | -58.23 | 482.35 | 0.79 | -41.48 | 229.17 | 0.52 | -21.21 | 0.0 | 2.94 | -2.97 | 58.06 | 146.36 | -54.65 | -38.12 | 140.00 | 267.5 | -30.0 | -40.00 | -170.0 | 60.0 | 2.03 | 31.82 | 16.0 |
| 21Q2 (10) | 4.15 | -28.08 | -38.61 | 0.79 | -64.09 | -68.53 | 1.94 | 3.74 | -14.91 | 1.83 | 25.34 | 0.0 | 4.74 | 53.4 | 27.08 | 1.35 | 32.35 | 11.57 | 0.66 | 10.0 | 11.86 | 3.03 | -5.9 | -13.43 | 322.72 | 21.35 | 20.39 | 38.10 | -67.92 | -65.53 | 57.14 | 404.76 | 642.86 | 1.54 | -14.92 | 0 |
| 21Q1 (9) | 5.77 | -31.55 | -13.88 | 2.20 | -28.34 | -20.58 | 1.87 | -38.28 | -35.29 | 1.46 | -40.41 | -33.64 | 3.09 | -41.03 | -20.36 | 1.02 | -39.64 | -25.55 | 0.60 | -4.76 | 7.14 | 3.22 | -26.98 | -29.07 | 265.95 | 8.05 | 15.54 | 118.75 | 14.18 | 24.4 | -18.75 | 0 | -512.5 | 1.81 | -28.46 | -3.21 |
| 20Q4 (8) | 8.43 | 44.6 | 6.44 | 3.07 | 448.21 | -34.4 | 3.03 | 1162.5 | -33.84 | 2.45 | 1261.11 | -32.13 | 5.24 | 1441.18 | -30.96 | 1.69 | 604.17 | -38.1 | 0.63 | 21.15 | -13.7 | 4.41 | 137.1 | -21.39 | 246.14 | 4.06 | 25.24 | 104.00 | -48.0 | 1.33 | 0.00 | 100.0 | 100.0 | 2.53 | 44.57 | 24.63 |
| 20Q3 (7) | 5.83 | -13.76 | 9.79 | 0.56 | -77.69 | -63.87 | 0.24 | -89.47 | -86.36 | 0.18 | -90.16 | -88.0 | 0.34 | -90.88 | -86.72 | 0.24 | -80.17 | -73.33 | 0.52 | -11.86 | -8.77 | 1.86 | -46.86 | -33.57 | 236.54 | -11.76 | 30.83 | 200.00 | 80.95 | 120.0 | -100.00 | -850.0 | -1200.0 | 1.75 | 0 | -12.06 |
| 20Q2 (6) | 6.76 | 0.9 | 27.55 | 2.51 | -9.39 | -6.34 | 2.28 | -21.11 | -5.39 | 1.83 | -16.82 | -14.49 | 3.73 | -3.87 | -22.61 | 1.21 | -11.68 | -21.43 | 0.59 | 5.36 | -15.71 | 3.50 | -22.91 | 10.06 | 268.07 | 16.46 | 20.49 | 110.53 | 15.79 | 0.48 | -10.53 | -331.58 | -5.26 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 6.70 | -15.4 | -5.1 | 2.77 | -40.81 | -20.63 | 2.89 | -36.9 | -34.32 | 2.20 | -39.06 | -49.89 | 3.88 | -48.88 | -58.01 | 1.37 | -49.82 | -54.18 | 0.56 | -23.29 | -16.42 | 4.54 | -19.07 | -14.82 | 230.18 | 17.12 | 3.02 | 95.45 | -6.99 | 18.36 | 4.55 | 272.73 | -76.52 | 1.87 | -7.88 | 16.15 |
| 19Q4 (4) | 7.92 | 49.15 | 0.0 | 4.68 | 201.94 | 0.0 | 4.58 | 160.23 | 0.0 | 3.61 | 140.67 | 0.0 | 7.59 | 196.48 | 0.0 | 2.73 | 203.33 | 0.0 | 0.73 | 28.07 | 0.0 | 5.61 | 100.36 | 0.0 | 196.54 | 8.71 | 0.0 | 102.63 | 12.89 | 0.0 | -2.63 | -128.95 | 0.0 | 2.03 | 2.01 | 0.0 |
| 19Q3 (3) | 5.31 | 0.19 | 0.0 | 1.55 | -42.16 | 0.0 | 1.76 | -26.97 | 0.0 | 1.50 | -29.91 | 0.0 | 2.56 | -46.89 | 0.0 | 0.90 | -41.56 | 0.0 | 0.57 | -18.57 | 0.0 | 2.80 | -11.95 | 0.0 | 180.80 | -18.74 | 0.0 | 90.91 | -17.36 | 0.0 | 9.09 | 190.91 | 0.0 | 1.99 | 45.26 | 0.0 |
| 19Q2 (2) | 5.30 | -24.93 | 0.0 | 2.68 | -23.21 | 0.0 | 2.41 | -45.23 | 0.0 | 2.14 | -51.25 | 0.0 | 4.82 | -47.84 | 0.0 | 1.54 | -48.49 | 0.0 | 0.70 | 4.48 | 0.0 | 3.18 | -40.34 | 0.0 | 222.49 | -0.43 | 0.0 | 110.00 | 36.4 | 0.0 | -10.00 | -151.67 | 0.0 | 1.37 | -14.91 | 0.0 |
| 19Q1 (1) | 7.06 | 0.0 | 0.0 | 3.49 | 0.0 | 0.0 | 4.40 | 0.0 | 0.0 | 4.39 | 0.0 | 0.0 | 9.24 | 0.0 | 0.0 | 2.99 | 0.0 | 0.0 | 0.67 | 0.0 | 0.0 | 5.33 | 0.0 | 0.0 | 223.44 | 0.0 | 0.0 | 80.65 | 0.0 | 0.0 | 19.35 | 0.0 | 0.0 | 1.61 | 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) | 6.15 | 1.99 | 2.93 | -16.29 | 0.56 | 33.13 | 3.91 | 17.42 | 3.36 | 25.84 | 20.36 | 6.43 | 10.76 | 32.84 | 3.08 | 7.69 | 4.64 | 16.88 | 100.51 | 10.15 | 74.84 | -28.71 | 25.16 | 0 | 0.03 | -24.71 | 1.58 | 14.49 |
| 2022 (9) | 6.03 | 24.07 | 3.50 | 108.33 | 0.42 | -44.87 | 3.33 | 106.83 | 2.67 | 103.82 | 19.13 | 83.59 | 8.10 | 130.77 | 2.86 | 23.81 | 3.97 | 49.25 | 91.25 | -62.67 | 104.98 | 0.78 | -4.98 | 0 | 0.05 | 12.14 | 1.38 | -16.36 |
| 2021 (8) | 4.86 | -30.47 | 1.68 | -26.64 | 0.77 | -31.82 | 1.61 | -25.81 | 1.31 | -23.84 | 10.42 | -20.09 | 3.51 | -24.52 | 2.31 | -2.53 | 2.66 | -26.72 | 244.44 | -0.69 | 104.17 | -0.23 | -4.17 | 0 | 0.04 | -71.5 | 1.65 | -17.91 |
| 2020 (7) | 6.99 | 8.37 | 2.29 | -28.21 | 1.12 | 35.37 | 2.17 | -35.22 | 1.72 | -41.5 | 13.04 | -45.64 | 4.65 | -43.84 | 2.37 | -13.19 | 3.63 | -15.97 | 246.14 | 25.24 | 104.41 | 9.85 | -5.88 | 0 | 0.14 | -11.47 | 2.01 | 15.52 |
| 2019 (6) | 6.45 | 117.17 | 3.19 | 2026.67 | 0.83 | 404.86 | 3.35 | 11066.67 | 2.94 | 29300.0 | 23.99 | 29887.5 | 8.28 | 9100.0 | 2.73 | -6.51 | 4.32 | 1628.0 | 196.54 | -2.69 | 95.05 | -76.24 | 4.95 | 0 | 0.16 | -21.13 | 1.74 | 21.68 |
| 2018 (5) | 2.97 | -35.29 | 0.15 | -89.66 | 0.16 | -9.03 | 0.03 | -98.1 | 0.01 | -99.35 | 0.08 | -98.92 | 0.09 | -97.51 | 2.92 | 24.79 | 0.25 | -85.71 | 201.98 | 99.39 | 400.00 | 333.33 | -300.00 | 0 | 0.21 | 0 | 1.43 | -11.18 |
| 2017 (4) | 4.59 | 14.18 | 1.45 | 25.0 | 0.18 | 58.13 | 1.58 | -3.66 | 1.54 | -4.35 | 7.42 | -9.51 | 3.62 | -14.22 | 2.34 | -10.69 | 1.75 | -1.13 | 101.30 | -7.32 | 92.31 | 33.85 | 7.69 | -72.12 | 0.00 | 0 | 1.61 | 3.21 |
| 2016 (3) | 4.02 | -41.91 | 1.16 | -69.47 | 0.11 | 52.69 | 1.64 | -57.84 | 1.61 | -58.61 | 8.20 | -62.68 | 4.22 | -56.98 | 2.62 | 3.97 | 1.77 | -55.42 | 109.30 | 37.97 | 68.97 | -29.68 | 27.59 | 1334.48 | 0.00 | 0 | 1.56 | -12.85 |
| 2015 (2) | 6.92 | 67.55 | 3.80 | 0 | 0.07 | 0 | 3.89 | 0 | 3.89 | 64.83 | 21.97 | 0 | 9.81 | 0 | 2.52 | -9.35 | 3.97 | 0 | 79.22 | -66.97 | 98.08 | -50.96 | 1.92 | 0 | 0.00 | 0 | 1.79 | -13.11 |
| 2014 (1) | 4.13 | 0 | -0.60 | 0 | 0.00 | 0 | -0.31 | 0 | 2.36 | 0 | -4.33 | 0 | -1.43 | 0 | 2.78 | 302.9 | -0.29 | 0 | 239.84 | 50.66 | 200.00 | 31.03 | -100.00 | 0 | 0.00 | 0 | 2.06 | -94.1 |
