- 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) | 13.96 | -30.34 | -23.42 | -2.14 | -138.77 | -136.03 | 6.22 | 106.64 | 213.92 | 4.17 | 265.79 | 185.63 | 0.88 | 238.46 | 183.02 | 0.56 | 124.0 | 236.59 | 0.10 | -9.09 | -9.09 | 15.79 | 55.72 | 601.78 | 107.01 | 7.87 | 6.1 | -34.62 | -119.07 | 68.0 | 134.62 | 265.21 | -34.69 | 21.29 | 5.08 | 21.03 |
| 23Q3 (19) | 20.04 | 15.3 | 0.0 | 5.52 | 167.96 | -15.98 | 3.01 | -49.92 | -1.63 | 1.14 | -76.35 | -56.49 | 0.26 | -73.74 | -55.17 | 0.25 | -57.63 | -35.9 | 0.11 | 10.0 | 0.0 | 10.14 | -25.22 | 3.79 | 99.20 | -13.38 | -1.0 | 181.48 | 423.09 | -13.87 | -81.48 | -224.77 | 28.7 | 20.26 | -8.41 | 10.29 |
| 23Q2 (18) | 17.38 | -2.96 | -7.5 | 2.06 | 496.15 | -61.5 | 6.01 | 712.16 | -19.11 | 4.82 | 350.47 | -16.46 | 0.99 | 482.35 | -25.56 | 0.59 | 168.18 | -18.06 | 0.10 | 25.0 | -9.09 | 13.56 | 25.67 | -2.66 | 114.52 | 13.04 | 3.46 | 34.69 | 157.82 | -51.85 | 65.31 | -59.18 | 133.73 | 22.12 | -10.77 | 21.27 |
| 23Q1 (17) | 17.91 | -1.76 | 21.18 | -0.52 | -108.75 | -122.32 | 0.74 | 113.55 | -90.86 | 1.07 | 121.97 | -85.16 | 0.17 | 116.04 | -91.15 | 0.22 | 153.66 | -77.78 | 0.08 | -27.27 | -38.46 | 10.79 | 379.56 | -23.58 | 101.31 | 0.45 | -7.5 | -60.00 | 44.53 | -307.5 | 160.00 | -22.38 | 125.08 | 24.79 | 40.93 | 42.47 |
| 22Q4 (16) | 18.23 | -9.03 | 1.33 | 5.94 | -9.59 | -21.22 | -5.46 | -278.43 | -166.34 | -4.87 | -285.88 | -166.08 | -1.06 | -282.76 | -146.9 | -0.41 | -205.13 | -136.28 | 0.11 | 0.0 | -21.43 | 2.25 | -76.97 | -83.01 | 100.86 | 0.66 | -10.92 | -108.16 | -151.33 | -218.34 | 206.12 | 280.36 | 2296.17 | 17.59 | -4.25 | 17.19 |
| 22Q3 (15) | 20.04 | 6.65 | 26.2 | 6.57 | 22.8 | 20.33 | 3.06 | -58.82 | -29.33 | 2.62 | -54.59 | -9.97 | 0.58 | -56.39 | -34.83 | 0.39 | -45.83 | -22.0 | 0.11 | 0.0 | -21.43 | 9.77 | -29.86 | 3.5 | 100.20 | -9.48 | -15.29 | 210.71 | 192.42 | 66.53 | -114.29 | -509.02 | -330.77 | 18.37 | 0.71 | 24.12 |
| 22Q2 (14) | 18.79 | 27.13 | 24.11 | 5.35 | 129.61 | 51.99 | 7.43 | -8.27 | 48.6 | 5.77 | -19.97 | 53.46 | 1.33 | -30.73 | 26.67 | 0.72 | -27.27 | 24.14 | 0.11 | -15.38 | -21.43 | 13.93 | -1.35 | 30.07 | 110.69 | 1.07 | 3.15 | 72.06 | 149.2 | 3.22 | 27.94 | -60.69 | -7.44 | 18.24 | 4.83 | 9.48 |
| 22Q1 (13) | 14.78 | -17.84 | 0.14 | 2.33 | -69.1 | 77.86 | 8.10 | -1.58 | 403.11 | 7.21 | -2.17 | 836.36 | 1.92 | -15.04 | 860.0 | 0.99 | -12.39 | 450.0 | 0.13 | -7.14 | 0.0 | 14.12 | 6.65 | 77.39 | 109.52 | -3.28 | 6.29 | 28.92 | -68.36 | -64.41 | 71.08 | 726.36 | 279.12 | 17.40 | 15.92 | -8.13 |
| 21Q4 (12) | 17.99 | 13.29 | 6.14 | 7.54 | 38.1 | 26.09 | 8.23 | 90.07 | 420.23 | 7.37 | 153.26 | 314.24 | 2.26 | 153.93 | 343.01 | 1.13 | 126.0 | 389.74 | 0.14 | 0.0 | 0.0 | 13.24 | 40.25 | 185.96 | 113.23 | -4.28 | 16.7 | 91.40 | -27.77 | 139.8 | 8.60 | 132.42 | -97.39 | 15.01 | 1.42 | -9.14 |
| 21Q3 (11) | 15.88 | 4.89 | 0.7 | 5.46 | 55.11 | -1.8 | 4.33 | -13.4 | 1.41 | 2.91 | -22.61 | -1.69 | 0.89 | -15.24 | 9.88 | 0.50 | -13.79 | 2.04 | 0.14 | 0.0 | 0.0 | 9.44 | -11.86 | 0.0 | 118.29 | 10.23 | 18.28 | 126.53 | 81.25 | -1.83 | -26.53 | -187.88 | 14.72 | 14.80 | -11.16 | -1.66 |
| 21Q2 (10) | 15.14 | 2.57 | -12.64 | 3.52 | 168.7 | -54.4 | 5.00 | 210.56 | -49.55 | 3.76 | 388.31 | -41.25 | 1.05 | 425.0 | -33.54 | 0.58 | 222.22 | -34.83 | 0.14 | 7.69 | 7.69 | 10.71 | 34.55 | -30.36 | 107.31 | 4.14 | 10.15 | 69.81 | -14.08 | -10.11 | 30.19 | 61.01 | 35.13 | 16.66 | -12.04 | 0 |
| 21Q1 (9) | 14.76 | -12.92 | 16.13 | 1.31 | -78.09 | 301.54 | 1.61 | 162.65 | 122.61 | 0.77 | 122.38 | 111.27 | 0.20 | 121.51 | 116.13 | 0.18 | 146.15 | 132.73 | 0.13 | -7.14 | 44.44 | 7.96 | 71.92 | 0 | 103.04 | 6.19 | 9.12 | 81.25 | 135.38 | 728.75 | 18.75 | -94.31 | -79.21 | 18.94 | 14.65 | -16.71 |
| 20Q4 (8) | 16.95 | 7.48 | 0.83 | 5.98 | 7.55 | 3.82 | -2.57 | -160.19 | -154.56 | -3.44 | -216.22 | -201.18 | -0.93 | -214.81 | -209.41 | -0.39 | -179.59 | -173.58 | 0.14 | 0.0 | 7.69 | 4.63 | -50.95 | -55.09 | 97.03 | -2.98 | 4.59 | -229.63 | -278.16 | -286.08 | 329.63 | 1159.52 | 1508.42 | 16.52 | 9.77 | -16.44 |
| 20Q3 (7) | 15.77 | -9.0 | 4.37 | 5.56 | -27.98 | 40.05 | 4.27 | -56.91 | 67.45 | 2.96 | -53.75 | 62.64 | 0.81 | -48.73 | 65.31 | 0.49 | -44.94 | 48.48 | 0.14 | 7.69 | 0.0 | 9.44 | -38.62 | 12.51 | 100.01 | 2.66 | 7.51 | 128.89 | 65.97 | -17.98 | -31.11 | -239.26 | 45.56 | 15.05 | 0 | -17.53 |
| 20Q2 (6) | 17.33 | 36.35 | 47.24 | 7.72 | 1287.69 | 6333.33 | 9.91 | 239.19 | 828.68 | 6.40 | 193.7 | 305.13 | 1.58 | 227.42 | 332.35 | 0.89 | 261.82 | 396.67 | 0.13 | 44.44 | 8.33 | 15.38 | 0 | 230.04 | 97.42 | 3.17 | 8.62 | 77.66 | 692.13 | 1109.57 | 22.34 | -75.23 | -79.26 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 12.71 | -24.39 | 31.44 | -0.65 | -111.28 | 88.31 | -7.12 | -251.17 | -278.72 | -6.83 | -300.88 | -152.96 | -1.24 | -245.88 | -181.82 | -0.55 | -203.77 | -223.53 | 0.09 | -30.77 | 0.0 | 0.00 | -100.0 | -100.0 | 94.43 | 1.79 | 24.05 | 9.80 | -92.06 | -96.73 | 90.20 | 485.38 | 145.1 | 22.74 | 15.02 | -13.54 |
| 19Q4 (4) | 16.81 | 11.25 | 0.0 | 5.76 | 45.09 | 0.0 | 4.71 | 84.71 | 0.0 | 3.40 | 86.81 | 0.0 | 0.85 | 73.47 | 0.0 | 0.53 | 60.61 | 0.0 | 0.13 | -7.14 | 0.0 | 10.31 | 22.88 | 0.0 | 92.77 | -0.27 | 0.0 | 123.40 | -21.47 | 0.0 | -23.40 | 59.04 | 0.0 | 19.77 | 8.33 | 0.0 |
| 19Q3 (3) | 15.11 | 28.38 | 0.0 | 3.97 | 3208.33 | 0.0 | 2.55 | 287.5 | 0.0 | 1.82 | 158.33 | 0.0 | 0.49 | 172.06 | 0.0 | 0.33 | 210.0 | 0.0 | 0.14 | 16.67 | 0.0 | 8.39 | 80.04 | 0.0 | 93.02 | 3.71 | 0.0 | 157.14 | 2142.86 | 0.0 | -57.14 | -153.06 | 0.0 | 18.25 | -23.7 | 0.0 |
| 19Q2 (2) | 11.77 | 21.72 | 0.0 | 0.12 | 102.16 | 0.0 | -1.36 | 27.66 | 0.0 | -3.12 | -15.56 | 0.0 | -0.68 | -54.55 | 0.0 | -0.30 | -76.47 | 0.0 | 0.12 | 33.33 | 0.0 | 4.66 | -26.61 | 0.0 | 89.69 | 17.83 | 0.0 | -7.69 | -102.56 | 0.0 | 107.69 | 153.85 | 0.0 | 23.92 | -9.05 | 0.0 |
| 19Q1 (1) | 9.67 | 0.0 | 0.0 | -5.56 | 0.0 | 0.0 | -1.88 | 0.0 | 0.0 | -2.70 | 0.0 | 0.0 | -0.44 | 0.0 | 0.0 | -0.17 | 0.0 | 0.0 | 0.09 | 0.0 | 0.0 | 6.35 | 0.0 | 0.0 | 76.12 | 0.0 | 0.0 | 300.00 | 0.0 | 0.0 | -200.00 | 0.0 | 0.0 | 26.30 | 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) | 17.33 | -2.91 | 1.39 | -71.98 | 6.14 | 21.76 | 4.15 | 19.25 | 2.86 | -0.35 | 2.29 | -16.73 | 1.63 | -5.78 | 0.39 | -15.22 | 12.62 | 23.85 | 107.01 | 6.1 | 33.33 | -76.58 | 66.67 | 0 | 0.89 | -0.92 | 21.94 | 22.64 |
| 2022 (9) | 17.85 | 11.56 | 4.96 | 8.06 | 5.04 | 18.49 | 3.48 | -28.98 | 2.87 | -24.47 | 2.75 | -36.34 | 1.73 | -28.51 | 0.46 | -16.36 | 10.19 | -1.92 | 100.86 | -10.92 | 142.31 | 52.42 | -42.31 | 0 | 0.90 | -10.54 | 17.89 | 10.09 |
| 2021 (8) | 16.00 | 0.57 | 4.59 | -9.11 | 4.25 | -11.94 | 4.90 | 198.78 | 3.80 | 1800.0 | 4.32 | 2173.68 | 2.42 | 437.78 | 0.55 | 12.24 | 10.39 | 32.86 | 113.23 | 16.7 | 93.36 | -69.37 | 6.16 | 0 | 1.00 | 1416.27 | 16.25 | -5.36 |
| 2020 (7) | 15.91 | 16.13 | 5.05 | 198.82 | 4.83 | -1.57 | 1.64 | 24.24 | 0.20 | 25.0 | 0.19 | 26.67 | 0.45 | 12.5 | 0.49 | 0.0 | 7.82 | 3.03 | 97.03 | 4.59 | 304.84 | 137.1 | -204.84 | 0 | 0.07 | 0 | 17.17 | -20.47 |
| 2019 (6) | 13.70 | -30.53 | 1.69 | -72.87 | 4.91 | 20.31 | 1.32 | -66.67 | 0.16 | -95.28 | 0.15 | -95.07 | 0.40 | -79.9 | 0.49 | -3.92 | 7.59 | -16.04 | 92.77 | 22.13 | 128.57 | -18.68 | -28.57 | 0 | 0.00 | 0 | 21.59 | -6.29 |
| 2018 (5) | 19.72 | -25.95 | 6.23 | -37.64 | 4.08 | 50.41 | 3.96 | -72.61 | 3.39 | -73.94 | 3.04 | -73.33 | 1.99 | -71.85 | 0.51 | -3.77 | 9.04 | -49.47 | 75.96 | 1.71 | 158.11 | 129.32 | -57.43 | 0 | 0.00 | 0 | 23.04 | 12.45 |
| 2017 (4) | 26.63 | -17.83 | 9.99 | -45.56 | 2.71 | -0.31 | 14.46 | -18.9 | 13.01 | -18.94 | 11.40 | -21.7 | 7.07 | -23.98 | 0.53 | -5.36 | 17.89 | -15.85 | 74.68 | 29.05 | 68.95 | -33.08 | 30.86 | 0 | 0.00 | 0 | 20.49 | 18.1 |
| 2016 (3) | 32.41 | 25.23 | 18.35 | 39.12 | 2.72 | -24.23 | 17.83 | 19.99 | 16.05 | 20.68 | 14.56 | 26.17 | 9.30 | 21.57 | 0.56 | 0.0 | 21.26 | 11.66 | 57.87 | -9.27 | 103.02 | 16.08 | -2.86 | 0 | 0.00 | 0 | 17.35 | -1.87 |
| 2015 (2) | 25.88 | -3.65 | 13.19 | -14.9 | 3.59 | 11.12 | 14.86 | -14.99 | 13.30 | -17.03 | 11.54 | -18.1 | 7.65 | -22.96 | 0.56 | -8.2 | 19.04 | -9.98 | 63.78 | 39.23 | 88.75 | 0.12 | 11.25 | -0.93 | 0.00 | 0 | 17.68 | 15.63 |
| 2014 (1) | 26.86 | 0 | 15.50 | 0 | 3.23 | 21.68 | 17.48 | 0 | 16.03 | 0 | 14.09 | 0 | 9.93 | 0 | 0.61 | -8.96 | 21.15 | -3.34 | 45.81 | 9.75 | 88.64 | -9.27 | 11.36 | 393.52 | 0.00 | 0 | 15.29 | 7.68 |
