- 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) | 80.39 | 19.17 | 32.29 | -11.77 | 74.93 | 63.9 | -6.68 | 83.84 | 77.09 | -6.69 | 83.82 | 77.06 | -1.26 | 79.61 | 69.71 | -0.77 | 79.9 | 72.1 | 0.12 | 33.33 | 20.0 | 6.25 | 124.54 | 139.81 | 50.26 | -19.71 | 3.48 | 166.67 | 46.67 | 49.57 | -77.78 | -470.37 | -580.56 | 64.53 | -17.84 | 0.34 |
| 23Q3 (19) | 67.46 | 28.86 | 10.32 | -46.95 | 45.37 | -8.53 | -41.34 | 46.93 | -1.0 | -41.35 | 46.95 | -1.03 | -6.18 | 25.36 | -21.89 | -3.83 | 28.28 | -13.31 | 0.09 | 28.57 | 12.5 | -25.47 | 55.85 | 5.14 | 62.60 | 8.89 | 29.05 | 113.64 | 3.46 | 6.38 | -13.64 | -38.64 | -100.0 | 78.54 | -21.91 | 13.1 |
| 23Q2 (18) | 52.35 | -18.66 | -21.4 | -85.94 | -30.37 | -185.51 | -77.90 | -28.82 | -165.96 | -77.94 | -27.08 | -165.92 | -8.28 | -28.57 | -125.61 | -5.34 | -25.35 | -93.48 | 0.07 | 0.0 | -30.0 | -57.69 | -40.84 | -266.52 | 57.49 | 13.44 | 22.35 | 109.84 | -0.15 | 9.84 | -9.84 | 1.64 | -214.75 | 100.58 | 3.69 | 56.69 |
| 23Q1 (17) | 64.36 | 5.91 | 50.37 | -65.92 | -102.21 | 51.98 | -60.47 | -107.37 | 55.73 | -61.33 | -110.32 | 55.1 | -6.44 | -54.81 | 23.15 | -4.26 | -54.35 | 41.8 | 0.07 | -30.0 | 40.0 | -40.96 | -160.89 | 63.14 | 50.68 | 4.34 | 250.0 | 110.00 | -1.28 | 10.0 | -10.00 | 12.5 | 0 | 97.00 | 50.83 | -23.47 |
| 22Q4 (16) | 60.77 | -0.62 | -12.6 | -32.60 | 24.64 | -51.63 | -29.16 | 28.76 | -25.47 | -29.16 | 28.76 | -25.37 | -4.16 | 17.95 | -49.64 | -2.76 | 18.34 | -15.48 | 0.10 | 25.0 | -9.09 | -15.70 | 41.53 | -43.9 | 48.57 | 0.12 | 277.98 | 111.43 | 4.32 | 16.07 | -11.43 | -67.62 | -242.86 | 64.31 | -7.39 | 9.52 |
| 22Q3 (15) | 61.15 | -8.18 | 27.24 | -43.26 | -43.72 | 58.62 | -40.93 | -39.74 | 60.63 | -40.93 | -39.65 | 60.63 | -5.07 | -38.15 | 20.28 | -3.38 | -22.46 | 39.21 | 0.08 | -20.0 | 60.0 | -26.85 | -70.58 | 66.29 | 48.51 | 3.23 | 249.24 | 106.82 | 6.82 | 6.82 | -6.82 | -118.18 | 0 | 69.44 | 8.18 | -30.34 |
| 22Q2 (14) | 66.60 | 55.61 | 54.35 | -30.10 | 78.07 | 62.92 | -29.29 | 78.56 | 63.71 | -29.31 | 78.54 | 63.68 | -3.67 | 56.21 | 31.02 | -2.76 | 62.3 | 40.9 | 0.10 | 100.0 | 66.67 | -15.74 | 85.83 | 73.89 | 46.99 | 224.52 | 267.68 | 100.00 | 0.0 | 0.0 | -3.12 | 0 | 0 | 64.19 | -49.36 | -24.96 |
| 22Q1 (13) | 42.80 | -38.44 | -35.58 | -137.27 | -538.47 | -362.19 | -136.59 | -487.74 | -378.93 | -136.59 | -487.23 | -378.93 | -8.38 | -201.44 | -277.48 | -7.32 | -206.28 | -281.25 | 0.05 | -54.55 | -28.57 | -111.11 | -918.42 | -748.17 | 14.48 | 12.68 | 14.56 | 100.00 | 4.17 | -4.0 | -0.00 | -100.0 | 100.0 | 126.75 | 115.85 | 92.16 |
| 21Q4 (12) | 69.53 | 44.67 | -1.33 | -21.50 | 79.44 | -313.93 | -23.24 | 77.64 | -167.76 | -23.26 | 77.62 | -167.81 | -2.78 | 56.29 | -162.75 | -2.39 | 57.01 | -161.28 | 0.11 | 120.0 | 0.0 | -10.91 | 86.3 | -125.7 | 12.85 | -7.49 | -0.39 | 96.00 | -4.0 | 229.14 | 8.00 | 0 | -88.71 | 58.72 | -41.1 | 42.25 |
| 21Q3 (11) | 48.06 | 11.38 | -27.65 | -104.55 | -28.8 | -488.02 | -103.95 | -28.79 | -338.79 | -103.95 | -28.79 | -338.79 | -6.36 | -19.55 | -197.2 | -5.56 | -19.06 | -212.36 | 0.05 | -16.67 | -37.5 | -79.66 | -32.13 | -672.65 | 13.89 | 8.69 | -19.38 | 100.00 | 0.0 | 35.29 | -0.00 | 0 | -100.0 | 99.69 | 16.54 | 66.51 |
| 21Q2 (10) | 43.15 | -35.05 | 67.51 | -81.17 | -173.3 | 88.85 | -80.71 | -182.99 | 88.66 | -80.71 | -182.99 | 88.66 | -5.32 | -139.64 | 49.29 | -4.67 | -143.23 | 44.93 | 0.06 | -14.29 | 500.0 | -60.29 | -360.23 | 89.81 | 12.78 | 1.11 | -17.39 | 100.00 | -4.0 | -2.35 | -0.00 | 100.0 | 100.0 | 85.54 | 29.68 | -83.65 |
| 21Q1 (9) | 66.44 | -5.72 | 21.11 | -29.70 | -395.52 | 66.12 | -28.52 | -183.15 | 67.25 | -28.52 | -183.15 | 67.25 | -2.22 | -150.11 | 74.77 | -1.92 | -149.23 | 69.38 | 0.07 | -36.36 | 0.0 | -13.10 | -130.86 | 80.35 | 12.64 | -2.02 | -66.56 | 104.17 | 257.14 | 4.17 | -4.17 | -105.88 | 0 | 65.96 | 59.79 | -37.43 |
| 20Q4 (8) | 70.47 | 6.08 | 58.72 | 10.05 | 156.52 | 104.63 | 34.30 | 244.79 | 115.41 | 34.30 | 244.79 | 115.41 | 4.43 | 307.01 | 142.11 | 3.90 | 319.1 | 157.18 | 0.11 | 37.5 | 266.67 | 42.45 | 511.74 | 123.99 | 12.90 | -25.13 | -63.66 | 29.17 | -60.54 | -70.31 | 70.83 | 171.53 | 3937.5 | 41.28 | -31.05 | -73.29 |
| 20Q3 (7) | 66.43 | 157.88 | 40.44 | -17.78 | 97.56 | 91.18 | -23.69 | 96.67 | 88.49 | -23.69 | 96.67 | 88.49 | -2.14 | 79.6 | 86.9 | -1.78 | 79.01 | 80.72 | 0.08 | 700.0 | 60.0 | -10.31 | 98.26 | 94.13 | 17.23 | 11.38 | -71.92 | 73.91 | -27.83 | -23.88 | 26.09 | 1182.61 | 1700.0 | 59.87 | -88.56 | -64.66 |
| 20Q2 (6) | 25.76 | -53.04 | -30.94 | -727.97 | -730.54 | -82.84 | -711.65 | -717.24 | -74.33 | -711.86 | -717.48 | -74.37 | -10.49 | -19.2 | 57.13 | -8.48 | -35.25 | 41.64 | 0.01 | -85.71 | -75.0 | -591.67 | -787.46 | -65.32 | 15.47 | -59.07 | -84.13 | 102.41 | 2.41 | 5.07 | -2.41 | 0 | -195.18 | 523.15 | 396.25 | 131.55 |
| 20Q1 (5) | 54.86 | 23.56 | -22.49 | -87.65 | 59.58 | 69.41 | -87.08 | 60.87 | 69.65 | -87.08 | 60.88 | 69.65 | -8.80 | 16.35 | 53.32 | -6.27 | 8.06 | 57.38 | 0.07 | 133.33 | 40.0 | -66.67 | 62.32 | 74.88 | 37.80 | 6.48 | -2.78 | 100.00 | 1.79 | 0.0 | -0.00 | -100.0 | 0 | 105.42 | -31.78 | -42.43 |
| 19Q4 (4) | 44.40 | -6.13 | 0.0 | -216.86 | -7.61 | 0.0 | -222.56 | -8.1 | 0.0 | -222.60 | -8.12 | 0.0 | -10.52 | 35.58 | 0.0 | -6.82 | 26.11 | 0.0 | 0.03 | -40.0 | 0.0 | -176.92 | -0.66 | 0.0 | 35.50 | -42.15 | 0.0 | 98.25 | 1.18 | 0.0 | 1.75 | 21.05 | 0.0 | 154.53 | -8.77 | 0.0 |
| 19Q3 (3) | 47.30 | 26.81 | 0.0 | -201.52 | 49.39 | 0.0 | -205.89 | 49.56 | 0.0 | -205.89 | 49.57 | 0.0 | -16.33 | 33.27 | 0.0 | -9.23 | 36.48 | 0.0 | 0.05 | 25.0 | 0.0 | -175.76 | 50.89 | 0.0 | 61.37 | -37.05 | 0.0 | 97.10 | -0.38 | 0.0 | 1.45 | -42.75 | 0.0 | 169.39 | -25.03 | 0.0 |
| 19Q2 (2) | 37.30 | -47.3 | 0.0 | -398.15 | -38.96 | 0.0 | -408.21 | -42.28 | 0.0 | -408.25 | -42.28 | 0.0 | -24.47 | -29.81 | 0.0 | -14.53 | 1.22 | 0.0 | 0.04 | -20.0 | 0.0 | -357.89 | -34.86 | 0.0 | 97.49 | 150.75 | 0.0 | 97.47 | -2.53 | 0.0 | 2.53 | 0 | 0.0 | 225.93 | 23.37 | 0.0 |
| 19Q1 (1) | 70.78 | 0.0 | 0.0 | -286.53 | 0.0 | 0.0 | -286.91 | 0.0 | 0.0 | -286.93 | 0.0 | 0.0 | -18.85 | 0.0 | 0.0 | -14.71 | 0.0 | 0.0 | 0.05 | 0.0 | 0.0 | -265.38 | 0.0 | 0.0 | 38.88 | 0.0 | 0.0 | 100.00 | 0.0 | 0.0 | 0.00 | 0.0 | 0.0 | 183.13 | 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) | 68.01 | 13.35 | -47.25 | 0 | 14.68 | 10.13 | -41.36 | 0 | -41.55 | 0 | -22.23 | 0 | -14.73 | 0 | 0.36 | 2.86 | -25.06 | 0 | 50.26 | 3.48 | 114.72 | 9.97 | -14.11 | 0 | 0.60 | -26.77 | 82.23 | 10.61 |
| 2022 (9) | 60.00 | 1.39 | -49.35 | 0 | 13.33 | -9.22 | -47.32 | 0 | -47.33 | 0 | -21.49 | 0 | -16.36 | 0 | 0.35 | 25.0 | -32.05 | 0 | 48.57 | 277.98 | 104.32 | 4.32 | -4.32 | 0 | 0.83 | -35.33 | 74.34 | 0.69 |
| 2021 (8) | 59.18 | -8.56 | -51.55 | 0 | 14.69 | 12.6 | -51.62 | 0 | -51.63 | 0 | -16.60 | 0 | -14.50 | 0 | 0.28 | -9.68 | -34.69 | 0 | 12.85 | -0.39 | 100.00 | -23.13 | -0.00 | 0 | 1.28 | -7.92 | 73.83 | -4.35 |
| 2020 (7) | 64.72 | 27.93 | -44.65 | 0 | 13.04 | -51.09 | -34.60 | 0 | -34.61 | 0 | -12.80 | 0 | -10.28 | 0 | 0.31 | 82.35 | -18.73 | 0 | 12.90 | -63.66 | 130.10 | 32.46 | -29.13 | 0 | 1.39 | -54.72 | 77.19 | -57.01 |
| 2019 (6) | 50.59 | 11.58 | -262.74 | 0 | 26.67 | -24.1 | -267.49 | 0 | -267.52 | 0 | -58.14 | 0 | -44.57 | 0 | 0.17 | 88.89 | -229.52 | 0 | 35.50 | 88.83 | 98.21 | -1.79 | 1.79 | 0 | 3.06 | -41.75 | 179.57 | -55.56 |
| 2018 (5) | 45.34 | 36.07 | -725.88 | 0 | 35.14 | -5.14 | -726.97 | 0 | -727.04 | 0 | -75.66 | 0 | -62.94 | 0 | 0.09 | 28.57 | -678.38 | 0 | 18.80 | -13.8 | 100.00 | -0.38 | -0.00 | 0 | 5.25 | 0 | 404.05 | -16.4 |
| 2017 (4) | 33.32 | -19.94 | -986.13 | 0 | 37.04 | -44.44 | -984.59 | 0 | -984.68 | 0 | -74.83 | 0 | -64.61 | 0 | 0.07 | 133.33 | -925.93 | 0 | 21.81 | 82.21 | 100.38 | -1.16 | -0.00 | 0 | 0.00 | 0 | 483.29 | -32.45 |
| 2016 (3) | 41.62 | 55.07 | -1654.46 | 0 | 66.67 | 155.56 | -1632.93 | 0 | -1558.10 | 0 | -52.51 | 0 | -46.40 | 0 | 0.03 | -57.14 | -1508.33 | 0 | 11.97 | -20.47 | 101.56 | -89.43 | -1.56 | 0 | 0.00 | 0 | 715.48 | 85.56 |
| 2015 (2) | 26.84 | 49.53 | -952.17 | 0 | 26.09 | -2.17 | -97.48 | 0 | -91.45 | 0 | -7.26 | 0 | -6.39 | 0 | 0.07 | 16.67 | -56.52 | 0 | 15.05 | 21.86 | 960.87 | 348.01 | -865.22 | 0 | 0.00 | 0 | 385.57 | -2.58 |
| 2014 (1) | 17.95 | 0 | -1071.91 | 0 | 26.67 | 260.0 | -501.05 | 0 | -468.64 | 0 | -29.25 | 0 | -25.92 | 0 | 0.06 | -50.0 | -460.00 | 0 | 12.35 | -10.64 | 214.47 | 440.06 | -114.47 | 0 | 0.00 | 0 | 395.78 | 145.48 |
