- 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) | 37.70 | 48.43 | 62.36 | 24.71 | 91.25 | 1715.03 | 24.50 | 71.81 | 1331.16 | 19.59 | 72.75 | 1259.17 | 11.01 | 2.23 | 1296.74 | 6.22 | 2.3 | 1172.41 | 0.32 | -40.74 | -8.57 | 26.46 | 68.86 | 7682.35 | 85.88 | 30.72 | 65.44 | 100.99 | 12.06 | 21.19 | -0.99 | -110.02 | -105.94 | 5.86 | 10.98 | -10.4 |
| 23Q3 (19) | 25.40 | -3.53 | 63.24 | 12.92 | 678.31 | 791.03 | 14.26 | 157.87 | 138.86 | 11.34 | 177.26 | 132.85 | 10.77 | 768.55 | 224.4 | 6.08 | 756.34 | 200.99 | 0.54 | 217.65 | 31.71 | 15.67 | 58.6 | 90.63 | 65.70 | -27.04 | 18.91 | 90.12 | 200.41 | 296.54 | 9.88 | -85.89 | -86.42 | 5.28 | -54.33 | -33.75 |
| 23Q2 (18) | 26.33 | 6.9 | 146.07 | 1.66 | -60.1 | 113.6 | 5.53 | -63.57 | 141.12 | 4.09 | -71.36 | 138.33 | 1.24 | -74.85 | 129.31 | 0.71 | -77.24 | 128.51 | 0.17 | -22.73 | -26.09 | 9.88 | -47.31 | 200.2 | 90.05 | 38.47 | 18.14 | 30.00 | 8.75 | -66.54 | 70.00 | -3.33 | 576.67 | 11.56 | -11.42 | 35.52 |
| 23Q1 (17) | 24.63 | 6.07 | 31.43 | 4.16 | 371.9 | 496.19 | 15.18 | 862.81 | 328.81 | 14.28 | 944.97 | 408.19 | 4.93 | 635.87 | 132.55 | 3.12 | 637.93 | 143.75 | 0.22 | -37.14 | -51.11 | 18.75 | 5414.71 | 249.16 | 65.03 | 25.27 | 4.67 | 27.59 | -66.9 | 203.45 | 72.41 | 334.48 | -42.83 | 13.05 | 99.54 | 103.59 |
| 22Q4 (16) | 23.22 | 49.23 | 922.91 | -1.53 | -205.52 | 98.15 | -1.99 | -133.33 | 97.61 | -1.69 | -134.7 | 97.53 | -0.92 | -127.71 | 86.99 | -0.58 | -128.71 | 86.7 | 0.35 | -14.63 | 483.33 | 0.34 | -95.86 | 100.49 | 51.91 | -6.05 | -29.56 | 83.33 | 266.67 | -16.67 | 16.67 | -77.08 | 0 | 6.54 | -17.94 | -74.25 |
| 22Q3 (15) | 15.56 | 45.42 | -3.77 | 1.45 | 111.88 | 100.55 | 5.97 | 144.39 | 102.57 | 4.87 | 145.64 | 102.76 | 3.32 | 178.49 | 349.62 | 2.02 | 181.12 | 362.34 | 0.41 | 78.26 | 0 | 8.22 | 183.37 | 116.44 | 55.25 | -27.51 | 10.43 | 22.73 | -74.65 | -81.06 | 72.73 | 603.03 | 827.27 | 7.97 | -6.57 | -96.66 |
| 22Q2 (14) | 10.70 | -42.9 | -48.11 | -12.21 | -1062.86 | -332.98 | -13.45 | -479.94 | -166.34 | -10.67 | -479.72 | -177.14 | -4.23 | -299.53 | -386.21 | -2.49 | -294.53 | -441.3 | 0.23 | -48.89 | 91.67 | -9.86 | -283.61 | -1414.67 | 76.22 | 22.68 | -11.77 | 89.66 | 436.21 | 56.9 | 10.34 | -91.83 | -75.86 | 8.53 | 33.07 | -24.18 |
| 22Q1 (13) | 18.74 | 725.55 | 331.36 | -1.05 | 98.73 | 97.56 | 3.54 | 104.26 | 109.18 | 2.81 | 104.11 | 109.04 | 2.12 | 129.99 | 143.18 | 1.28 | 129.36 | 142.95 | 0.45 | 650.0 | 350.0 | 5.37 | 107.79 | 117.41 | 62.13 | -15.69 | -25.07 | -26.67 | -126.67 | -123.77 | 126.67 | 0 | 1138.67 | 6.41 | -74.76 | -72.39 |
| 21Q4 (12) | 2.27 | -85.96 | -95.27 | -82.76 | 68.43 | -355.04 | -83.11 | 64.24 | -488.36 | -68.44 | 61.17 | -517.06 | -7.07 | -431.58 | -150.11 | -4.36 | -466.23 | -146.88 | 0.06 | 0 | -89.47 | -68.97 | -37.94 | -404.64 | 73.69 | 47.29 | 50.08 | 100.00 | -16.67 | -34.17 | -0.00 | 100.0 | 100.0 | 25.40 | -89.36 | 414.17 |
| 21Q3 (11) | 16.17 | -21.58 | -33.32 | -262.13 | -9195.39 | -5606.93 | -232.43 | -4502.57 | -2793.28 | -176.27 | -4478.44 | -2371.52 | -1.33 | -52.87 | -158.85 | -0.77 | -67.39 | -155.4 | 0.00 | -100.0 | -100.0 | -50.00 | -6766.67 | -487.0 | 50.03 | -42.09 | -9.04 | 120.00 | 110.0 | 125.0 | -10.00 | -123.33 | -121.43 | 238.65 | 2021.33 | 1530.12 |
| 21Q2 (10) | 20.62 | 354.57 | 264.31 | -2.82 | 93.46 | 97.4 | -5.05 | 86.9 | 88.74 | -3.85 | 87.62 | 91.49 | -0.87 | 82.28 | 36.96 | -0.46 | 84.56 | 43.9 | 0.12 | 20.0 | 500.0 | 0.75 | 102.43 | 112.76 | 86.39 | 4.18 | 12.6 | 57.14 | -49.07 | -74.6 | 42.86 | 451.43 | 131.17 | 11.25 | -51.55 | 0 |
| 21Q1 (9) | -8.10 | -116.89 | -231.71 | -43.09 | -232.79 | -221.57 | -38.55 | -280.14 | -154.62 | -31.09 | -289.46 | -155.67 | -4.91 | -134.8 | -55.38 | -2.98 | -132.04 | -44.66 | 0.10 | -82.46 | -41.18 | -30.84 | -236.22 | -182.68 | 82.92 | 68.88 | 40.97 | 112.20 | -26.14 | 27.49 | -12.20 | 76.51 | -201.63 | 23.22 | 370.04 | 31.78 |
| 20Q4 (8) | 47.97 | 97.81 | 38.96 | 32.45 | 581.72 | 267.08 | 21.40 | 147.97 | 185.33 | 16.41 | 111.47 | 175.8 | 14.11 | 524.34 | 505.58 | 9.30 | 569.06 | 520.0 | 0.57 | 216.67 | 128.0 | 22.64 | 75.23 | 107.52 | 49.10 | -10.73 | 0.68 | 151.91 | 184.83 | 32.92 | -51.91 | -211.23 | -172.52 | 4.94 | -66.26 | -50.4 |
| 20Q3 (7) | 24.25 | 328.45 | -10.94 | 4.76 | 104.39 | -71.05 | 8.63 | 119.25 | -45.41 | 7.76 | 117.15 | -38.31 | 2.26 | 263.77 | -80.24 | 1.39 | 269.51 | -77.1 | 0.18 | 800.0 | -62.5 | 12.92 | 319.73 | -24.49 | 55.00 | -28.31 | -13.89 | 53.33 | -76.3 | -48.84 | 46.67 | 133.94 | 1196.67 | 14.64 | 0 | 140.39 |
| 20Q2 (6) | 5.66 | -7.97 | -85.73 | -108.41 | -709.03 | -527.48 | -44.83 | -196.1 | -267.46 | -45.24 | -272.04 | -310.52 | -1.38 | 56.33 | -108.07 | -0.82 | 60.19 | -110.75 | 0.02 | -88.24 | -94.29 | -5.88 | 46.1 | -120.71 | 76.72 | 30.43 | -33.8 | 225.00 | 155.68 | 136.25 | -137.50 | -1245.83 | -2575.0 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 6.15 | -82.18 | -81.22 | -13.40 | -251.58 | -204.2 | -15.14 | -301.87 | -206.32 | -12.16 | -304.37 | -206.29 | -3.16 | -235.62 | -156.33 | -2.06 | -237.33 | -183.4 | 0.17 | -32.0 | -22.73 | -10.91 | -200.0 | -164.03 | 58.82 | 20.61 | -56.03 | 88.00 | -23.0 | -1.94 | 12.00 | 163.0 | 17.0 | 17.62 | 76.91 | 48.07 |
| 19Q4 (4) | 34.52 | 26.77 | 0.0 | 8.84 | -46.23 | 0.0 | 7.50 | -52.56 | 0.0 | 5.95 | -52.7 | 0.0 | 2.33 | -79.63 | 0.0 | 1.50 | -75.29 | 0.0 | 0.25 | -47.92 | 0.0 | 10.91 | -36.24 | 0.0 | 48.77 | -23.64 | 0.0 | 114.29 | 9.62 | 0.0 | -19.05 | -347.62 | 0.0 | 9.96 | 63.55 | 0.0 |
| 19Q3 (3) | 27.23 | -31.32 | 0.0 | 16.44 | -35.17 | 0.0 | 15.81 | -40.94 | 0.0 | 12.58 | -41.46 | 0.0 | 11.44 | -33.14 | 0.0 | 6.07 | -20.45 | 0.0 | 0.48 | 37.14 | 0.0 | 17.11 | -39.73 | 0.0 | 63.87 | -44.89 | 0.0 | 104.26 | 9.47 | 0.0 | -4.26 | -176.6 | 0.0 | 6.09 | 11.13 | 0.0 |
| 19Q2 (2) | 39.65 | 21.11 | 0.0 | 25.36 | 97.2 | 0.0 | 26.77 | 87.99 | 0.0 | 21.49 | 87.85 | 0.0 | 17.11 | 204.99 | 0.0 | 7.63 | 208.91 | 0.0 | 0.35 | 59.09 | 0.0 | 28.39 | 66.61 | 0.0 | 115.89 | -13.37 | 0.0 | 95.24 | 6.12 | 0.0 | 5.56 | -45.83 | 0.0 | 5.48 | -53.95 | 0.0 |
| 19Q1 (1) | 32.74 | 0.0 | 0.0 | 12.86 | 0.0 | 0.0 | 14.24 | 0.0 | 0.0 | 11.44 | 0.0 | 0.0 | 5.61 | 0.0 | 0.0 | 2.47 | 0.0 | 0.0 | 0.22 | 0.0 | 0.0 | 17.04 | 0.0 | 0.0 | 133.78 | 0.0 | 0.0 | 89.74 | 0.0 | 0.0 | 10.26 | 0.0 | 0.0 | 11.90 | 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) | 29.18 | 66.46 | 13.83 | 0 | 1.93 | -0.72 | 16.41 | 11621.43 | 13.36 | 11033.33 | 26.16 | 8920.69 | 15.20 | 5980.0 | 1.13 | -22.6 | 18.68 | 650.2 | 85.88 | 65.44 | 84.16 | 0 | 15.84 | -98.98 | 0.13 | -78.85 | 7.37 | 1.8 |
| 2022 (9) | 17.53 | 155.17 | -2.31 | 0 | 1.95 | -77.37 | 0.14 | 0 | 0.12 | 0 | 0.29 | 0 | 0.25 | 0 | 1.46 | 403.45 | 2.49 | 0 | 51.91 | -29.56 | -1500.00 | 0 | 1550.00 | 0 | 0.61 | -42.98 | 7.24 | -66.34 |
| 2021 (8) | 6.87 | -80.82 | -36.14 | 0 | 8.61 | 235.42 | -35.14 | 0 | -28.36 | 0 | -13.18 | 0 | -8.21 | 0 | 0.29 | -67.42 | -24.50 | 0 | 73.69 | 50.08 | 102.83 | -29.8 | -2.83 | 0 | 1.07 | 102.71 | 21.51 | 116.83 |
| 2020 (7) | 35.81 | 8.42 | 17.16 | 0.0 | 2.57 | 65.5 | 11.72 | -32.41 | 8.91 | -35.76 | 11.80 | -67.17 | 7.97 | -60.23 | 0.89 | -38.19 | 14.68 | -24.13 | 49.10 | 0.68 | 146.49 | 48.08 | -46.49 | 0 | 0.53 | 11.23 | 9.92 | 31.56 |
| 2019 (6) | 33.03 | 58.65 | 17.16 | 386.12 | 1.55 | -10.2 | 17.34 | 411.5 | 13.87 | 411.81 | 35.94 | 467.77 | 20.04 | 505.44 | 1.44 | 18.03 | 19.35 | 215.66 | 48.77 | -59.4 | 98.93 | -5.9 | 1.07 | 0 | 0.47 | -43.97 | 7.54 | -8.5 |
| 2018 (5) | 20.82 | -35.62 | 3.53 | -67.1 | 1.73 | -20.73 | 3.39 | -71.3 | 2.71 | -72.38 | 6.33 | -67.9 | 3.31 | -72.49 | 1.22 | 0.0 | 6.13 | -57.9 | 120.12 | 104.46 | 105.13 | 15.19 | -5.13 | 0 | 0.85 | 0 | 8.24 | -22.92 |
| 2017 (4) | 32.34 | 19.96 | 10.73 | 71.96 | 2.18 | 23.19 | 11.81 | 71.16 | 9.81 | 73.02 | 19.72 | 50.65 | 12.03 | 79.02 | 1.22 | 4.27 | 14.56 | 64.71 | 58.75 | -17.65 | 91.26 | 1.18 | 8.74 | -10.87 | 0.00 | 0 | 10.69 | 9.53 |
| 2016 (3) | 26.96 | -0.66 | 6.24 | 7.03 | 1.77 | 1157.55 | 6.90 | 14.43 | 5.67 | 13.17 | 13.09 | -39.57 | 6.72 | -28.43 | 1.17 | -35.71 | 8.84 | 39.65 | 71.34 | -51.08 | 90.20 | -5.4 | 9.80 | 321.57 | 0.00 | 0 | 9.76 | 48.78 |
| 2015 (2) | 27.14 | -12.76 | 5.83 | 45.75 | 0.14 | 0 | 6.03 | 53.44 | 5.01 | 92.69 | 21.66 | 402.55 | 9.39 | 342.92 | 1.82 | 127.5 | 6.33 | 51.8 | 145.82 | 21.22 | 95.35 | -4.65 | 2.33 | 0 | 0.00 | 0 | 6.56 | -39.37 |
| 2014 (1) | 31.11 | 0 | 4.00 | 0 | 0.00 | 0 | 3.93 | 0 | 2.60 | 0 | 4.31 | 0 | 2.12 | 0 | 0.80 | 0 | 4.17 | 45.8 | 120.29 | 1554.61 | 100.00 | 0.0 | 0.00 | 0 | 0.00 | 0 | 10.82 | -34.9 |
