- 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) | 14.42 | 44.2 | 17.05 | 4.00 | 925.64 | -13.42 | -0.47 | -111.96 | -132.87 | -0.20 | -109.48 | 87.8 | -0.09 | -110.23 | 88.16 | 0.08 | -84.0 | 172.73 | 0.16 | 14.29 | 0.0 | 8.72 | -42.21 | -17.89 | 196.52 | 0.4 | -0.52 | -825.00 | -8075.0 | -349.67 | 912.50 | 917.79 | 503.61 | 7.21 | -28.68 | -5.01 |
| 23Q3 (19) | 10.00 | -16.94 | -2.91 | 0.39 | -91.01 | -38.1 | 3.93 | -47.04 | -11.49 | 2.11 | -57.8 | -10.59 | 0.88 | -62.23 | -12.87 | 0.50 | -49.49 | 11.11 | 0.14 | -12.5 | 0.0 | 15.09 | -12.77 | 5.16 | 195.73 | -1.67 | -0.21 | 10.34 | -82.37 | -30.69 | 89.66 | 116.97 | 3.57 | 10.11 | 13.6 | 17.01 |
| 23Q2 (18) | 12.04 | 9.55 | 28.09 | 4.34 | 48.63 | 1376.47 | 7.42 | 232.74 | 42.42 | 5.00 | 594.44 | 107.47 | 2.33 | 676.67 | 124.04 | 0.99 | 266.67 | 125.0 | 0.16 | 14.29 | 6.67 | 17.30 | 31.86 | 14.49 | 199.05 | 3.86 | -0.36 | 58.68 | -55.29 | 1038.84 | 41.32 | 232.23 | -61.11 | 8.90 | -6.71 | -1.87 |
| 23Q1 (17) | 10.99 | -10.8 | 13.77 | 2.92 | -36.8 | 278.05 | 2.23 | 55.94 | 61.59 | 0.72 | 143.9 | -20.88 | 0.30 | 139.47 | -9.09 | 0.27 | 345.45 | 50.0 | 0.14 | -12.5 | 16.67 | 13.12 | 23.54 | 5.55 | 191.66 | -2.98 | 2.16 | 131.25 | -60.28 | 212.5 | -31.25 | 86.18 | -114.42 | 9.54 | 25.69 | -13.27 |
| 22Q4 (16) | 12.32 | 19.61 | 15.57 | 4.62 | 633.33 | 134.52 | 1.43 | -67.79 | 6.72 | -1.64 | -169.49 | 30.21 | -0.76 | -175.25 | 36.67 | -0.11 | -124.44 | 66.67 | 0.16 | 14.29 | -5.88 | 10.62 | -25.99 | 14.19 | 197.55 | 0.72 | -2.39 | 330.43 | 2113.91 | 126.58 | -226.09 | -361.17 | -393.28 | 7.59 | -12.15 | -1.04 |
| 22Q3 (15) | 10.30 | 9.57 | -5.33 | 0.63 | 285.29 | -42.2 | 4.44 | -14.78 | 120.9 | 2.36 | -2.07 | 76.12 | 1.01 | -2.88 | 83.64 | 0.45 | 2.27 | 87.5 | 0.14 | -6.67 | 0.0 | 14.35 | -5.03 | 23.6 | 196.14 | -1.81 | -2.38 | 14.93 | 338.81 | -72.95 | 86.57 | -18.53 | 93.11 | 8.64 | -4.74 | -11.11 |
| 22Q2 (14) | 9.40 | -2.69 | -32.86 | -0.34 | 79.27 | -107.78 | 5.21 | 277.54 | 95.86 | 2.41 | 164.84 | 59.6 | 1.04 | 215.15 | 55.22 | 0.44 | 144.44 | 41.94 | 0.15 | 25.0 | -6.25 | 15.11 | 21.56 | 45.29 | 199.76 | 6.48 | -3.56 | -6.25 | 94.64 | -103.73 | 106.25 | -50.96 | 262.92 | 9.07 | -17.55 | 1.34 |
| 22Q1 (13) | 9.66 | -9.38 | -46.03 | -1.64 | -183.25 | -121.81 | 1.38 | 2.99 | -83.43 | 0.91 | 138.72 | -85.46 | 0.33 | 127.5 | -87.45 | 0.18 | 154.55 | -83.78 | 0.12 | -29.41 | -29.41 | 12.43 | 33.66 | -22.84 | 187.60 | -7.3 | 28.77 | -116.67 | -180.0 | -229.53 | 216.67 | 572.73 | 2081.11 | 11.00 | 43.42 | 5.77 |
| 21Q4 (12) | 10.66 | -2.02 | -69.11 | 1.97 | 80.73 | -92.07 | 1.34 | -33.33 | -94.25 | -2.35 | -275.37 | -113.65 | -1.20 | -318.18 | -111.35 | -0.33 | -237.5 | -108.27 | 0.17 | 21.43 | -26.09 | 9.30 | -19.9 | -66.68 | 202.38 | 0.72 | 30.67 | 145.83 | 164.32 | 36.81 | -45.83 | -202.24 | -594.74 | 7.67 | -21.09 | -9.34 |
| 21Q3 (11) | 10.88 | -22.29 | -64.95 | 1.09 | -75.06 | -95.66 | 2.01 | -24.44 | -91.24 | 1.34 | -11.26 | -92.24 | 0.55 | -17.91 | -95.95 | 0.24 | -22.58 | -94.76 | 0.14 | -12.5 | -46.15 | 11.61 | 11.63 | -59.25 | 200.93 | -3.0 | 8.68 | 55.17 | -67.04 | -49.59 | 44.83 | 168.74 | 574.43 | 9.72 | 8.6 | 37.87 |
| 21Q2 (10) | 14.00 | -21.79 | -49.51 | 4.37 | -41.89 | -80.43 | 2.66 | -68.07 | -87.76 | 1.51 | -75.88 | -90.51 | 0.67 | -74.52 | -94.69 | 0.31 | -72.07 | -92.6 | 0.16 | -5.88 | -38.46 | 10.40 | -35.44 | -60.0 | 207.14 | 42.18 | -5.21 | 167.39 | 85.85 | 62.72 | -65.22 | -756.52 | -2321.74 | 8.95 | -13.94 | 0 |
| 21Q1 (9) | 17.90 | -48.13 | -12.81 | 7.52 | -69.74 | -39.35 | 8.33 | -64.25 | -41.79 | 6.26 | -63.65 | -31.13 | 2.63 | -75.12 | -41.69 | 1.11 | -72.18 | -29.75 | 0.17 | -26.09 | 6.25 | 16.11 | -42.28 | -21.3 | 145.69 | -5.93 | -25.09 | 90.07 | -15.51 | 3.99 | 9.93 | 250.58 | -25.83 | 10.40 | 22.93 | 19.82 |
| 20Q4 (8) | 34.51 | 11.18 | 67.85 | 24.85 | -1.11 | 83.39 | 23.30 | 1.53 | 85.81 | 17.22 | -0.23 | 86.97 | 10.57 | -22.11 | 104.45 | 3.99 | -12.88 | 126.7 | 0.23 | -11.54 | 27.78 | 27.91 | -2.04 | 67.63 | 154.88 | -16.23 | -25.21 | 106.60 | -2.61 | -1.21 | -6.60 | 30.18 | 16.56 | 8.46 | 20.0 | 10.73 |
| 20Q3 (7) | 31.04 | 11.94 | 54.97 | 25.13 | 12.54 | 101.85 | 22.95 | 5.61 | 44.89 | 17.26 | 8.49 | 69.38 | 13.57 | 7.61 | 149.91 | 4.58 | 9.31 | 143.62 | 0.26 | 0.0 | 44.44 | 28.49 | 9.58 | 41.88 | 184.89 | -15.39 | -8.97 | 109.45 | 6.39 | 39.45 | -9.45 | -250.87 | -143.92 | 7.05 | 0 | -14.55 |
| 20Q2 (6) | 27.73 | 35.07 | 52.7 | 22.33 | 80.08 | 117.22 | 21.73 | 51.85 | 102.71 | 15.91 | 75.03 | 183.6 | 12.61 | 179.6 | 326.01 | 4.19 | 165.19 | 277.48 | 0.26 | 62.5 | 36.84 | 26.00 | 27.02 | 72.3 | 218.53 | 12.36 | 10.74 | 102.87 | 18.78 | 7.13 | -2.69 | -120.11 | -167.71 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 20.53 | -0.15 | 22.35 | 12.40 | -8.49 | 62.94 | 14.31 | 14.11 | 54.37 | 9.09 | -1.3 | 27.49 | 4.51 | -12.77 | 24.24 | 1.58 | -10.23 | 9.72 | 0.16 | -11.11 | -15.79 | 20.47 | 22.94 | 46.32 | 194.49 | -6.09 | 18.37 | 86.61 | -19.74 | 5.77 | 13.39 | 269.38 | -26.09 | 8.68 | 13.61 | 13.32 |
| 19Q4 (4) | 20.56 | 2.65 | 0.0 | 13.55 | 8.84 | 0.0 | 12.54 | -20.83 | 0.0 | 9.21 | -9.62 | 0.0 | 5.17 | -4.79 | 0.0 | 1.76 | -6.38 | 0.0 | 0.18 | 0.0 | 0.0 | 16.65 | -17.08 | 0.0 | 207.10 | 1.96 | 0.0 | 107.91 | 37.49 | 0.0 | -7.91 | -136.75 | 0.0 | 7.64 | -7.39 | 0.0 |
| 19Q3 (3) | 20.03 | 10.3 | 0.0 | 12.45 | 21.11 | 0.0 | 15.84 | 47.76 | 0.0 | 10.19 | 81.64 | 0.0 | 5.43 | 83.45 | 0.0 | 1.88 | 69.37 | 0.0 | 0.18 | -5.26 | 0.0 | 20.08 | 33.07 | 0.0 | 203.12 | 2.93 | 0.0 | 78.49 | -18.26 | 0.0 | 21.51 | 440.92 | 0.0 | 8.25 | 16.36 | 0.0 |
| 19Q2 (2) | 18.16 | 8.22 | 0.0 | 10.28 | 35.09 | 0.0 | 10.72 | 15.64 | 0.0 | 5.61 | -21.32 | 0.0 | 2.96 | -18.46 | 0.0 | 1.11 | -22.92 | 0.0 | 0.19 | 0.0 | 0.0 | 15.09 | 7.86 | 0.0 | 197.34 | 20.1 | 0.0 | 96.02 | 17.27 | 0.0 | 3.98 | -78.05 | 0.0 | 7.09 | -7.44 | 0.0 |
| 19Q1 (1) | 16.78 | 0.0 | 0.0 | 7.61 | 0.0 | 0.0 | 9.27 | 0.0 | 0.0 | 7.13 | 0.0 | 0.0 | 3.63 | 0.0 | 0.0 | 1.44 | 0.0 | 0.0 | 0.19 | 0.0 | 0.0 | 13.99 | 0.0 | 0.0 | 164.31 | 0.0 | 0.0 | 81.88 | 0.0 | 0.0 | 18.12 | 0.0 | 0.0 | 7.66 | 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) | 11.94 | 13.93 | 2.98 | 204.08 | 8.22 | -3.31 | 3.29 | 4.44 | 1.94 | 102.08 | 3.42 | 107.27 | 1.85 | 90.72 | 0.59 | 3.51 | 13.53 | 3.2 | 196.52 | -0.52 | 90.64 | 190.36 | 9.36 | -86.39 | 0.02 | 100.69 | 8.89 | -0.89 |
| 2022 (9) | 10.48 | -22.37 | 0.98 | -74.81 | 8.50 | 17.49 | 3.15 | -14.63 | 0.96 | -44.51 | 1.65 | -45.36 | 0.97 | -27.61 | 0.57 | -9.52 | 13.11 | 10.35 | 197.55 | -2.39 | 31.22 | -70.44 | 68.78 | 0 | 0.01 | 0 | 8.97 | -2.07 |
| 2021 (8) | 13.50 | -53.91 | 3.89 | -82.45 | 7.24 | 65.42 | 3.69 | -82.64 | 1.73 | -88.85 | 3.02 | -92.34 | 1.34 | -90.77 | 0.63 | -31.52 | 11.88 | -54.83 | 202.38 | 30.67 | 105.60 | 1.33 | -5.20 | 0 | 0.00 | 0 | 9.16 | 20.69 |
| 2020 (7) | 29.29 | 54.97 | 22.16 | 101.27 | 4.38 | 11.89 | 21.26 | 75.99 | 15.51 | 93.15 | 39.43 | 131.26 | 14.52 | 133.44 | 0.92 | 24.32 | 26.30 | 56.92 | 154.88 | -25.21 | 104.21 | 14.49 | -4.21 | 0 | 0.00 | 0 | 7.59 | -2.82 |
| 2019 (6) | 18.90 | 0.53 | 11.01 | -6.3 | 3.91 | -8.82 | 12.08 | -6.21 | 8.03 | -8.02 | 17.05 | -14.58 | 6.22 | -23.59 | 0.74 | -18.68 | 16.76 | -4.34 | 207.10 | 25.65 | 91.02 | -0.18 | 8.85 | 0.45 | 0.00 | 0 | 7.81 | 11.1 |
| 2018 (5) | 18.80 | -1.73 | 11.75 | 3.16 | 4.29 | -6.47 | 12.88 | 15.1 | 8.73 | 3.8 | 19.96 | 3.15 | 8.14 | -10.75 | 0.91 | -14.15 | 17.52 | 8.62 | 164.82 | 22.04 | 91.19 | -10.43 | 8.81 | 0 | 0.01 | 0 | 7.03 | 1.88 |
| 2017 (4) | 19.13 | -0.78 | 11.39 | 0.0 | 4.59 | -3.71 | 11.19 | -12.37 | 8.41 | -12.03 | 19.35 | -10.54 | 9.12 | -17.24 | 1.06 | -6.19 | 16.13 | -9.79 | 135.05 | 37.99 | 101.81 | 14.13 | -1.67 | 0 | 0.00 | 0 | 6.90 | 2.83 |
| 2016 (3) | 19.28 | -4.6 | 11.39 | -10.17 | 4.76 | 8.05 | 12.77 | -2.74 | 9.56 | -2.65 | 21.63 | -6.85 | 11.02 | -5.81 | 1.13 | -1.74 | 17.88 | -1.05 | 97.87 | -4.21 | 89.20 | -7.59 | 10.80 | 211.11 | 0.00 | 0 | 6.71 | 5.17 |
| 2015 (2) | 20.21 | 3.91 | 12.68 | 13.21 | 4.41 | -10.1 | 13.13 | 17.76 | 9.82 | 24.94 | 23.22 | 20.0 | 11.70 | 24.2 | 1.15 | 0.88 | 18.07 | 8.72 | 102.17 | -6.34 | 96.53 | -3.95 | 3.47 | 0 | 0.00 | 0 | 6.38 | -0.47 |
| 2014 (1) | 19.45 | 0 | 11.20 | 0 | 4.90 | 3.68 | 11.15 | 0 | 7.86 | 0 | 19.35 | 0 | 9.42 | 0 | 1.14 | -1.72 | 16.62 | 3.75 | 109.09 | -10.74 | 100.50 | -4.45 | -0.50 | 0 | 0.00 | 0 | 6.41 | -3.32 |
