- 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) | 78.66 | -0.11 | 1.27 | -12.15 | -88.66 | -70.17 | -9.87 | 30.2 | -2.49 | -9.80 | 27.14 | -1.77 | -1.88 | 28.79 | -35.25 | -1.33 | 29.63 | -35.71 | 0.14 | -6.67 | 27.27 | -1.39 | 79.16 | 24.86 | 34.17 | -3.53 | -6.28 | 128.57 | 182.86 | 60.71 | -28.57 | -152.38 | -242.86 | 18.07 | 12.94 | -23.07 |
| 23Q3 (19) | 78.75 | -0.81 | 2.61 | -6.44 | -125.17 | -265.13 | -14.14 | -237.82 | -442.37 | -13.45 | -233.96 | -426.46 | -2.64 | -245.05 | -500.0 | -1.89 | -233.1 | -450.0 | 0.15 | 15.38 | 25.0 | -6.67 | -138.91 | -157.16 | 35.42 | 0.17 | 1.55 | 45.45 | 259.09 | -54.55 | 54.55 | -57.58 | 0 | 16.00 | 2.37 | -11.75 |
| 23Q2 (18) | 79.39 | 1.37 | 7.02 | -2.86 | 33.33 | -60.67 | 10.26 | -44.81 | 210.32 | 10.04 | -43.56 | 207.38 | 1.82 | -41.48 | 245.6 | 1.42 | -39.32 | 257.78 | 0.13 | 0.0 | 30.0 | 17.14 | -33.46 | 0 | 35.36 | 3.82 | 6.35 | -28.57 | -14.29 | -242.86 | 128.57 | 2.86 | 60.71 | 15.63 | -1.57 | -30.38 |
| 23Q1 (17) | 78.32 | 0.84 | 6.43 | -4.29 | 39.92 | 74.93 | 18.59 | 293.04 | 183.97 | 17.79 | 284.74 | 180.17 | 3.11 | 323.74 | 223.9 | 2.34 | 338.78 | 224.47 | 0.13 | 18.18 | 44.44 | 25.76 | 1492.43 | 321.5 | 34.06 | -6.58 | 8.16 | -25.00 | -131.25 | -135.71 | 125.00 | 525.0 | 525.0 | 15.88 | -32.4 | -37.9 |
| 22Q4 (16) | 77.67 | 1.2 | 8.58 | -7.14 | -283.08 | 61.67 | -9.63 | -333.17 | -111.18 | -9.63 | -333.74 | -111.18 | -1.39 | -310.61 | -157.41 | -0.98 | -281.48 | -133.33 | 0.11 | -8.33 | 10.0 | -1.85 | -115.85 | -128.37 | 36.46 | 4.53 | 20.85 | 80.00 | -20.0 | -82.22 | 20.00 | 0 | 106.67 | 23.49 | 29.56 | -0.51 |
| 22Q3 (15) | 76.75 | 3.46 | 3.59 | 3.90 | 319.1 | 128.97 | 4.13 | 144.41 | 120.15 | 4.12 | 144.06 | 120.1 | 0.66 | 152.8 | 133.0 | 0.54 | 160.0 | 130.68 | 0.12 | 20.0 | 33.33 | 11.67 | 0 | 247.91 | 34.88 | 4.9 | 133.94 | 100.00 | 400.0 | 60.0 | 0.00 | -100.0 | -100.0 | 18.13 | -19.24 | -30.99 |
| 22Q2 (14) | 74.18 | 0.8 | 5.68 | -1.78 | 89.6 | 93.28 | -9.30 | 57.99 | 79.76 | -9.35 | 57.86 | 79.65 | -1.25 | 50.2 | 67.19 | -0.90 | 52.13 | 73.68 | 0.10 | 11.11 | 42.86 | 0.00 | 100.0 | 100.0 | 33.25 | 5.59 | 199.01 | 20.00 | -71.43 | -66.67 | 80.00 | 300.0 | 71.43 | 22.45 | -12.2 | -27.81 |
| 22Q1 (13) | 73.59 | 2.88 | 11.58 | -17.11 | 8.16 | 62.66 | -22.14 | -385.53 | 72.92 | -22.19 | -386.62 | 72.86 | -2.51 | -364.81 | 56.87 | -1.88 | -347.62 | 63.57 | 0.09 | -10.0 | 50.0 | -11.63 | -278.37 | 81.53 | 31.49 | 4.38 | 196.52 | 70.00 | -84.44 | 28.33 | 20.00 | 106.67 | -56.0 | 25.57 | 8.3 | -39.03 |
| 21Q4 (12) | 71.53 | -3.46 | 6.94 | -18.63 | -38.41 | 51.79 | -4.56 | 77.76 | 90.93 | -4.56 | 77.76 | 90.93 | -0.54 | 73.0 | 87.32 | -0.42 | 76.14 | 88.52 | 0.10 | 11.11 | 42.86 | 6.52 | 182.64 | 117.78 | 30.17 | 102.35 | 106.36 | 450.00 | 620.0 | 462.5 | -300.00 | -900.0 | -1600.0 | 23.61 | -10.13 | -32.21 |
| 21Q3 (11) | 74.09 | 5.56 | 6.12 | -13.46 | 49.15 | 65.0 | -20.50 | 55.38 | 72.3 | -20.50 | 55.38 | 72.3 | -2.00 | 47.51 | 61.54 | -1.76 | 48.54 | 60.09 | 0.09 | 28.57 | 50.0 | -7.89 | 75.61 | 86.32 | 14.91 | 34.08 | -12.55 | 62.50 | 4.17 | 18.75 | 37.50 | -19.64 | -20.83 | 26.27 | -15.53 | -33.16 |
| 21Q2 (10) | 70.19 | 6.43 | 17.2 | -26.47 | 42.23 | 49.47 | -45.94 | 43.8 | -200.75 | -45.94 | 43.8 | -200.86 | -3.81 | 34.54 | -166.96 | -3.42 | 33.72 | -169.8 | 0.07 | 16.67 | -36.36 | -32.35 | 48.62 | -149.6 | 11.12 | 4.71 | -37.1 | 60.00 | 10.0 | 152.5 | 46.67 | 2.67 | -78.22 | 31.10 | -25.85 | -32.76 |
| 21Q1 (9) | 65.95 | -1.41 | 20.04 | -45.82 | -18.58 | 30.61 | -81.75 | -62.52 | 46.08 | -81.75 | -62.52 | 46.08 | -5.82 | -36.62 | 39.56 | -5.16 | -40.98 | 34.85 | 0.06 | -14.29 | 20.0 | -62.96 | -71.69 | 52.24 | 10.62 | -27.36 | -57.96 | 54.55 | -31.82 | 28.57 | 45.45 | 127.27 | -21.05 | 41.94 | 20.41 | 0 |
| 20Q4 (8) | 66.89 | -4.2 | 15.09 | -38.64 | -0.47 | -72.5 | -50.30 | 32.05 | -603.5 | -50.30 | 32.05 | -603.5 | -4.26 | 18.08 | -653.25 | -3.66 | 17.01 | -638.24 | 0.07 | 16.67 | 0.0 | -36.67 | 36.44 | -246.68 | 14.62 | -14.25 | -15.05 | 80.00 | 52.0 | 140.0 | 20.00 | -57.78 | -93.33 | 34.83 | -11.37 | -10.6 |
| 20Q3 (7) | 69.82 | 16.58 | 28.18 | -38.46 | 26.58 | 33.22 | -74.02 | -262.32 | 11.15 | -74.02 | -262.5 | 11.15 | -5.20 | -191.39 | 19.38 | -4.41 | -190.0 | 20.4 | 0.06 | -45.45 | -14.29 | -57.69 | -188.45 | 13.47 | 17.05 | -3.56 | -3.34 | 52.63 | 146.05 | -25.44 | 47.37 | -77.89 | 61.05 | 39.30 | -15.03 | -19.45 |
| 20Q2 (6) | 59.89 | 9.01 | 2.31 | -52.38 | 20.67 | 36.38 | 45.60 | 130.08 | -44.54 | 45.55 | 130.04 | -43.4 | 5.69 | 159.09 | -39.53 | 4.90 | 161.87 | -40.24 | 0.11 | 120.0 | 10.0 | 65.22 | 149.48 | -39.28 | 17.68 | -30.01 | -7.39 | -114.29 | -369.39 | -14.29 | 214.29 | 272.18 | 7.14 | 46.25 | 0 | -38.84 |
| 20Q1 (5) | 54.94 | -5.47 | 0 | -66.03 | -194.78 | 0 | -151.61 | -1617.62 | 0 | -151.61 | -1617.62 | 0 | -9.63 | -1350.65 | 0 | -7.92 | -1264.71 | 0 | 0.05 | -28.57 | 0 | -131.82 | -627.28 | 0 | 25.26 | 46.78 | 0 | 42.42 | 121.21 | 0 | 57.58 | -80.81 | 0 | 0.00 | -100.0 | 0 |
| 19Q4 (4) | 58.12 | 6.7 | 0.0 | -22.40 | 61.1 | 0.0 | 9.99 | 111.99 | 0.0 | 9.99 | 111.99 | 0.0 | 0.77 | 111.94 | 0.0 | 0.68 | 112.27 | 0.0 | 0.07 | 0.0 | 0.0 | 25.00 | 137.5 | 0.0 | 17.21 | -2.44 | 0.0 | -200.00 | -383.33 | 0.0 | 300.00 | 920.0 | 0.0 | 38.96 | -20.15 | 0.0 |
| 19Q3 (3) | 54.47 | -6.95 | 0.0 | -57.59 | 30.05 | 0.0 | -83.31 | -201.33 | 0.0 | -83.31 | -203.52 | 0.0 | -6.45 | -168.54 | 0.0 | -5.54 | -167.56 | 0.0 | 0.07 | -30.0 | 0.0 | -66.67 | -162.07 | 0.0 | 17.64 | -7.6 | 0.0 | 70.59 | 170.59 | 0.0 | 29.41 | -85.29 | 0.0 | 48.79 | -35.48 | 0.0 |
| 19Q2 (2) | 58.54 | 0 | 0.0 | -82.33 | 0 | 0.0 | 82.22 | 0 | 0.0 | 80.48 | 0 | 0.0 | 9.41 | 0 | 0.0 | 8.20 | 0 | 0.0 | 0.10 | 0 | 0.0 | 107.41 | 0 | 0.0 | 19.09 | 0 | 0.0 | -100.00 | 0 | 0.0 | 200.00 | 0 | 0.0 | 75.62 | 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) | 78.79 | 4.07 | -6.51 | 0 | 5.30 | -15.6 | 0.57 | 0 | 0.53 | 0 | 0.40 | 0 | 0.54 | 0 | 0.56 | 36.59 | 7.77 | 701.03 | 34.17 | -6.28 | -900.00 | 0 | 1000.00 | 2328.57 | 5.82 | -8.28 | 16.41 | -25.81 |
| 2022 (9) | 75.71 | 6.84 | -4.73 | 0 | 6.28 | -35.4 | -8.18 | 0 | -8.21 | 0 | -4.50 | 0 | -3.20 | 0 | 0.41 | 28.12 | 0.97 | 0 | 36.46 | 20.85 | 58.82 | -21.01 | 41.18 | 61.27 | 6.35 | -6.26 | 22.12 | -24.97 |
| 2021 (8) | 70.86 | 9.91 | -24.15 | 0 | 9.72 | -29.17 | -32.80 | 0 | -32.80 | 0 | -12.94 | 0 | -10.47 | 0 | 0.32 | 28.0 | -20.14 | 0 | 30.17 | 106.36 | 74.47 | -78.95 | 25.53 | 0 | 6.77 | -27.33 | 29.48 | -28.32 |
| 2020 (7) | 64.47 | 12.57 | -44.81 | 0 | 13.73 | -14.22 | -13.00 | 0 | -13.02 | 0 | -3.78 | 0 | -3.14 | 0 | 0.25 | 4.17 | 4.90 | -83.29 | 14.62 | -15.05 | 353.85 | 0 | -253.85 | 0 | 9.32 | 162.2 | 41.13 | -24.89 |
| 2019 (6) | 57.27 | 2.65 | -53.50 | 0 | 16.00 | 20.0 | 10.09 | 0 | 9.47 | 0 | 2.65 | 0 | 2.46 | 0 | 0.24 | -17.24 | 29.33 | 0 | 17.21 | 46.34 | -500.00 | 0 | 600.00 | 0 | 3.55 | -55.79 | 54.76 | -6.31 |
| 2018 (5) | 55.79 | 0.78 | -67.17 | 0 | 13.33 | 10.48 | -42.21 | 0 | -41.50 | 0 | -13.24 | 0 | -11.97 | 0 | 0.29 | 7.41 | -25.00 | 0 | 11.76 | 23.01 | 160.00 | -52.0 | -60.00 | 0 | 8.04 | 0 | 58.45 | 18.92 |
| 2017 (4) | 55.36 | -8.84 | -33.94 | 0 | 12.07 | 35.17 | -10.31 | 0 | -10.29 | 0 | -3.05 | 0 | -2.74 | 0 | 0.27 | 0 | 5.17 | -58.64 | 9.56 | -20.66 | 333.33 | 0 | -233.33 | 0 | 0.00 | 0 | 49.15 | 17.39 |
| 2016 (3) | 60.73 | 0 | -17.64 | 0 | 8.93 | 0 | 0.50 | 0 | 0.57 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 12.50 | 0 | 12.05 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 41.87 | 0 |
