- 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) | 21.97 | -2.05 | 116.24 | 7.04 | 16.94 | 51.4 | 5.95 | -11.59 | 39.67 | 5.14 | -15.32 | 17.62 | 1.25 | -22.36 | -38.42 | 0.93 | -16.22 | -25.0 | 0.15 | -6.25 | -40.0 | 17.52 | 3.0 | 53.28 | 57.75 | -2.42 | -31.13 | 119.09 | 32.91 | 9.17 | -18.18 | -274.83 | -100.0 | 15.74 | -15.56 | 29.23 |
| 23Q3 (19) | 22.43 | 120.33 | 326.43 | 6.02 | 18.5 | 336.23 | 6.73 | 18.28 | 720.73 | 6.07 | 0.5 | 513.13 | 1.61 | -28.12 | 302.5 | 1.11 | -20.71 | 208.33 | 0.16 | -23.81 | -20.0 | 17.01 | -17.43 | 118.36 | 59.18 | -18.16 | -36.41 | 89.60 | 0.8 | -45.08 | 10.40 | -6.4 | 115.2 | 18.64 | 26.63 | 36.96 |
| 23Q2 (18) | 10.18 | 6.26 | 54.01 | 5.08 | 0.79 | 353.57 | 5.69 | -18.25 | 736.76 | 6.04 | -25.25 | 694.74 | 2.24 | -20.57 | 700.0 | 1.40 | -16.67 | 418.52 | 0.21 | 10.53 | 16.67 | 20.60 | 25.38 | 131.98 | 72.31 | -6.29 | -29.69 | 88.89 | 22.83 | -44.97 | 11.11 | -59.79 | 118.06 | 14.72 | -4.04 | -8.34 |
| 23Q1 (17) | 9.58 | -5.71 | 33.43 | 5.04 | 8.39 | 58.99 | 6.96 | 63.38 | 500.0 | 8.08 | 84.9 | 461.11 | 2.82 | 38.92 | 403.57 | 1.68 | 35.48 | 290.7 | 0.19 | -24.0 | -5.0 | 16.43 | 43.74 | 83.17 | 77.16 | -7.98 | -16.8 | 72.37 | -33.66 | -73.99 | 27.63 | 403.95 | 115.89 | 15.34 | 25.94 | 13.29 |
| 22Q4 (16) | 10.16 | 93.16 | -30.22 | 4.65 | 236.96 | -60.69 | 4.26 | 419.51 | -63.15 | 4.37 | 341.41 | -59.98 | 2.03 | 407.5 | -59.64 | 1.24 | 244.44 | -53.9 | 0.25 | 25.0 | 8.7 | 11.43 | 46.73 | -38.32 | 83.85 | -9.91 | -15.67 | 109.09 | -33.14 | 6.63 | -9.09 | 86.71 | -293.94 | 12.18 | -10.51 | 7.79 |
| 22Q3 (15) | 5.26 | -20.42 | 230.82 | 1.38 | 23.21 | 118.57 | 0.82 | 20.59 | 109.4 | 0.99 | 30.26 | 113.16 | 0.40 | 42.86 | 117.62 | 0.36 | 33.33 | 137.89 | 0.20 | 11.11 | 33.33 | 7.79 | -12.27 | 321.08 | 93.07 | -9.5 | -8.28 | 163.16 | 1.0 | 91.13 | -68.42 | -11.18 | -567.54 | 13.61 | -15.26 | -22.01 |
| 22Q2 (14) | 6.61 | -7.94 | 3788.24 | 1.12 | -64.67 | 116.14 | 0.68 | -41.38 | 109.54 | 0.76 | -47.22 | 111.09 | 0.28 | -50.0 | 114.14 | 0.27 | -37.21 | 132.53 | 0.18 | -10.0 | 20.0 | 8.88 | -1.0 | 133.68 | 102.84 | 10.89 | -4.06 | 161.54 | -41.95 | 66.64 | -61.54 | 64.62 | -3115.38 | 16.06 | 18.61 | -8.33 |
| 22Q1 (13) | 7.18 | -50.69 | 36.76 | 3.17 | -73.2 | 481.93 | 1.16 | -89.97 | 93.33 | 1.44 | -86.81 | 747.06 | 0.56 | -88.87 | 1300.0 | 0.43 | -84.01 | 115.0 | 0.20 | -13.04 | 66.67 | 8.97 | -51.59 | -35.47 | 92.74 | -6.73 | 4.31 | 278.26 | 171.98 | 316.43 | -173.91 | -7436.23 | -176.09 | 13.54 | 19.82 | -27.32 |
| 21Q4 (12) | 14.56 | 815.72 | 25.84 | 11.83 | 259.22 | 325.76 | 11.56 | 232.57 | 375.24 | 10.92 | 245.21 | 1092.73 | 5.03 | 321.59 | 1776.67 | 2.69 | 383.16 | 4383.33 | 0.23 | 53.33 | 91.67 | 18.53 | 901.62 | 75.81 | 99.43 | -2.01 | 2.39 | 102.31 | 19.85 | -18.15 | -2.31 | -115.77 | 90.77 | 11.30 | -35.24 | -57.39 |
| 21Q3 (11) | 1.59 | 835.29 | -90.29 | -7.43 | -7.06 | -176.92 | -8.72 | -22.3 | -193.26 | -7.52 | -9.78 | -177.45 | -2.27 | -14.65 | -150.33 | -0.95 | -14.46 | -145.45 | 0.15 | 0.0 | -16.67 | 1.85 | -51.32 | -91.33 | 101.47 | -5.34 | -30.46 | 85.37 | -11.94 | -17.26 | 14.63 | 617.07 | 560.98 | 17.45 | -0.4 | 4.55 |
| 21Q2 (10) | 0.17 | -96.76 | -98.51 | -6.94 | -736.14 | -228.04 | -7.13 | -1288.33 | -252.35 | -6.85 | -4129.41 | -245.74 | -1.98 | -5050.0 | -196.59 | -0.83 | -515.0 | -174.77 | 0.15 | 25.0 | -11.76 | 3.80 | -72.66 | -79.22 | 107.19 | 20.56 | -32.29 | 96.94 | 175.4 | -16.28 | 2.04 | -99.11 | 112.93 | 17.52 | -5.96 | 0 |
| 21Q1 (9) | 5.25 | -54.62 | 600.0 | -0.83 | 84.16 | 98.09 | 0.60 | 114.29 | 101.3 | 0.17 | 115.45 | 100.37 | 0.04 | 113.33 | 100.26 | 0.20 | 233.33 | 103.54 | 0.12 | 0.0 | -7.69 | 13.90 | 31.88 | 155.87 | 88.91 | -8.44 | -46.88 | -128.57 | -202.86 | -236.81 | 228.57 | 1014.29 | 3695.92 | 18.63 | -29.75 | -1.69 |
| 20Q4 (8) | 11.57 | -29.32 | 10418.18 | -5.24 | -154.24 | 44.73 | -4.20 | -144.92 | 61.33 | -1.10 | -111.33 | 90.69 | -0.30 | -106.65 | 91.71 | 0.06 | -97.13 | 105.5 | 0.12 | -33.33 | 0.0 | 10.54 | -50.59 | -0.85 | 97.11 | -33.45 | -32.13 | 125.00 | 21.15 | 43.42 | -25.00 | -687.5 | -294.64 | 26.52 | 58.9 | 0 |
| 20Q3 (7) | 16.37 | 43.72 | 346.05 | 9.66 | 78.23 | 410.61 | 9.35 | 99.79 | 238.72 | 9.71 | 106.6 | 237.73 | 4.51 | 120.0 | 268.91 | 2.09 | 88.29 | 460.34 | 0.18 | 5.88 | 28.57 | 21.33 | 16.62 | 80.92 | 145.92 | -7.82 | -3.04 | 103.17 | -10.89 | 125.87 | -3.17 | 79.89 | -105.98 | 16.69 | 0 | -1.71 |
| 20Q2 (6) | 11.39 | 1418.67 | 179.85 | 5.42 | 112.46 | 296.38 | 4.68 | 110.11 | 317.67 | 4.70 | 110.22 | 291.84 | 2.05 | 113.32 | 344.05 | 1.11 | 119.65 | 2120.0 | 0.17 | 30.77 | 41.67 | 18.29 | 173.51 | -3.74 | 158.30 | -5.43 | -18.4 | 115.79 | 23.21 | -9.02 | -15.79 | -362.22 | 42.11 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 0.75 | 581.82 | -93.12 | -43.51 | -358.97 | -920.94 | -46.30 | -326.34 | -2037.24 | -46.00 | -289.17 | -2091.34 | -15.39 | -325.14 | -1737.23 | -5.65 | -418.35 | -943.28 | 0.13 | 8.33 | -13.33 | -24.88 | -334.05 | -225.03 | 167.39 | 16.98 | -2.74 | 93.98 | 7.83 | -57.42 | 6.02 | -53.12 | 104.99 | 18.95 | 0 | 17.92 |
| 19Q4 (4) | 0.11 | -97.0 | 0.0 | -9.48 | -204.82 | 0.0 | -10.86 | -61.13 | 0.0 | -11.82 | -67.66 | 0.0 | -3.62 | -35.58 | 0.0 | -1.09 | -87.93 | 0.0 | 0.12 | -14.29 | 0.0 | 10.63 | -9.84 | 0.0 | 143.09 | -4.92 | 0.0 | 87.16 | 90.8 | 0.0 | 12.84 | -75.81 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 3.67 | -9.83 | 0.0 | -3.11 | -12.68 | 0.0 | -6.74 | -213.49 | 0.0 | -7.05 | -187.76 | 0.0 | -2.67 | -217.86 | 0.0 | -0.58 | -1260.0 | 0.0 | 0.14 | 16.67 | 0.0 | 11.79 | -37.95 | 0.0 | 150.49 | -22.42 | 0.0 | 45.68 | -64.11 | 0.0 | 53.09 | 294.65 | 0.0 | 16.98 | -3.63 | 0.0 |
| 19Q2 (2) | 4.07 | -62.66 | 0.0 | -2.76 | -152.08 | 0.0 | -2.15 | -189.96 | 0.0 | -2.45 | -206.06 | 0.0 | -0.84 | -189.36 | 0.0 | 0.05 | -92.54 | 0.0 | 0.12 | -20.0 | 0.0 | 19.00 | -4.52 | 0.0 | 193.99 | 12.72 | 0.0 | 127.27 | -42.33 | 0.0 | -27.27 | 77.4 | 0.0 | 17.62 | 9.65 | 0.0 |
| 19Q1 (1) | 10.90 | 0.0 | 0.0 | 5.30 | 0.0 | 0.0 | 2.39 | 0.0 | 0.0 | 2.31 | 0.0 | 0.0 | 0.94 | 0.0 | 0.0 | 0.67 | 0.0 | 0.0 | 0.15 | 0.0 | 0.0 | 19.90 | 0.0 | 0.0 | 172.10 | 0.0 | 0.0 | 220.69 | 0.0 | 0.0 | -120.69 | 0.0 | 0.0 | 16.07 | 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) | 15.42 | 105.33 | 5.72 | 108.0 | 10.76 | 63.97 | 6.32 | 224.1 | 6.38 | 202.37 | 7.64 | 127.38 | 5.01 | 112.29 | 0.71 | -15.48 | 18.00 | 90.88 | 57.75 | -31.13 | 90.61 | -36.06 | 9.39 | 0 | 0.07 | 49.94 | 15.99 | 17.06 |
| 2022 (9) | 7.51 | 12.43 | 2.75 | 198.91 | 6.56 | -22.74 | 1.95 | 160.0 | 2.11 | 174.03 | 3.36 | 250.0 | 2.36 | 105.22 | 0.84 | 33.33 | 9.43 | -10.95 | 83.85 | -15.67 | 141.71 | 14.37 | -41.14 | 0 | 0.04 | 13.08 | 13.66 | -11.53 |
| 2021 (8) | 6.68 | -36.8 | 0.92 | 0 | 8.49 | -32.16 | 0.75 | 0 | 0.77 | 0 | 0.96 | 0 | 1.15 | 0 | 0.63 | 16.67 | 10.59 | 31.72 | 99.43 | 2.39 | 123.91 | 36.51 | -21.74 | 0 | 0.04 | 268.25 | 15.44 | -19.42 |
| 2020 (7) | 10.57 | 113.97 | -6.38 | 0 | 12.52 | -21.79 | -7.04 | 0 | -6.16 | 0 | -7.11 | 0 | -2.22 | 0 | 0.54 | -1.82 | 8.04 | -47.79 | 97.11 | -32.13 | 90.77 | 73.03 | 9.23 | -80.58 | 0.01 | -72.21 | 19.16 | 9.3 |
| 2019 (6) | 4.94 | 0 | -2.17 | 0 | 16.01 | -20.14 | -4.12 | 0 | -4.51 | 0 | -6.47 | 0 | -0.98 | 0 | 0.55 | 34.15 | 15.40 | 0 | 143.09 | -20.51 | 52.46 | -46.86 | 47.54 | 3874.43 | 0.04 | -54.69 | 17.53 | -25.75 |
| 2018 (5) | -17.16 | 0 | -32.33 | 0 | 20.05 | 88.97 | -32.73 | 0 | -29.32 | 0 | -33.28 | 0 | -11.81 | 0 | 0.41 | -39.71 | -8.80 | 0 | 180.02 | 30.43 | 98.72 | 11.8 | 1.20 | -89.68 | 0.08 | 8.27 | 23.61 | 87.53 |
| 2017 (4) | -2.75 | 0 | -12.41 | 0 | 10.61 | 39.92 | -14.04 | 0 | -14.17 | 0 | -20.94 | 0 | -8.41 | 0 | 0.68 | -26.09 | -1.18 | 0 | 138.02 | 39.32 | 88.30 | -87.28 | 11.59 | 0 | 0.08 | 0 | 12.59 | 36.7 |
| 2016 (3) | 6.07 | -30.79 | 1.61 | -42.91 | 7.58 | 3.44 | 0.23 | -88.67 | 0.23 | -90.69 | 0.42 | -91.95 | 1.30 | -62.43 | 0.92 | -7.07 | 9.30 | -12.59 | 99.07 | -1.31 | 694.44 | 400.97 | -594.44 | 0 | 0.00 | 0 | 9.21 | 1.1 |
| 2015 (2) | 8.77 | -6.8 | 2.82 | -22.53 | 7.33 | -2.64 | 2.03 | -17.48 | 2.47 | -10.51 | 5.22 | -14.43 | 3.46 | -8.22 | 0.99 | 6.45 | 10.64 | -8.51 | 100.39 | -22.23 | 138.62 | -6.37 | -39.31 | 0 | 0.00 | 0 | 9.11 | -9.62 |
| 2014 (1) | 9.41 | 0 | 3.64 | 0 | 7.53 | -16.84 | 2.46 | 0 | 2.76 | 0 | 6.10 | 0 | 3.77 | 0 | 0.93 | 22.37 | 11.63 | -22.83 | 129.08 | -12.16 | 148.05 | 9.92 | -48.05 | 0 | 0.00 | 0 | 10.08 | 2.54 |
