- 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) | 15.52 | -21.18 | -13.15 | 0.61 | -89.82 | 238.64 | -4.40 | -168.01 | 53.09 | -6.53 | -430.89 | 23.09 | -1.72 | -421.21 | -6.17 | -0.42 | -481.82 | 12.5 | 0.10 | 0.0 | 25.0 | 8.73 | -54.74 | 134.05 | 155.90 | -1.1 | 8.21 | -13.79 | -114.8 | -431.03 | 113.79 | 1568.97 | 21.38 | 21.08 | 23.49 | -34.0 |
| 23Q3 (19) | 19.69 | 30.05 | -16.25 | 5.99 | 379.91 | 68.26 | 6.47 | 36.79 | -32.18 | -1.23 | -180.92 | -116.33 | -0.33 | -164.71 | -117.1 | 0.11 | -74.42 | -87.64 | 0.10 | -23.08 | -9.09 | 19.29 | 23.5 | 11.63 | 157.64 | -2.94 | 18.62 | 93.18 | 301.89 | 152.37 | 6.82 | -95.33 | -89.19 | 17.07 | 11.86 | 13.72 |
| 23Q2 (18) | 15.14 | 43.64 | -31.74 | -2.14 | 68.58 | -132.72 | 4.73 | 153.09 | -50.05 | 1.52 | 114.35 | -79.21 | 0.51 | 123.08 | -83.0 | 0.43 | 164.18 | -66.41 | 0.13 | 62.5 | -18.75 | 15.62 | 208.09 | 8.25 | 162.42 | 2.98 | 12.68 | -46.15 | -161.54 | -166.89 | 146.15 | 537.76 | 371.46 | 15.26 | -24.27 | 31.44 |
| 23Q1 (17) | 10.54 | -41.02 | -47.33 | -6.81 | -1447.73 | -214.84 | -8.91 | 5.01 | -243.71 | -10.59 | -24.73 | -346.28 | -2.21 | -36.42 | -227.75 | -0.67 | -39.58 | -189.33 | 0.08 | 0.0 | -50.0 | 5.07 | 35.92 | -55.05 | 157.72 | 9.47 | 1.45 | 75.00 | 1700.0 | -21.25 | 22.92 | -75.56 | 381.25 | 20.15 | -36.91 | 55.72 |
| 22Q4 (16) | 17.87 | -23.99 | -6.54 | -0.44 | -112.36 | -131.43 | -9.38 | -198.32 | -6800.0 | -8.49 | -212.75 | -2672.73 | -1.62 | -183.94 | -1112.5 | -0.48 | -153.93 | -500.0 | 0.08 | -27.27 | -63.64 | 3.73 | -78.41 | -5.09 | 144.07 | 8.4 | 1.74 | 4.17 | -88.72 | -99.51 | 93.75 | 48.63 | 112.5 | 31.94 | 112.79 | 226.92 |
| 22Q3 (15) | 23.51 | 6.0 | 65.68 | 3.56 | -45.57 | 784.62 | 9.54 | 0.74 | 2068.18 | 7.53 | 3.01 | 1320.75 | 1.93 | -35.67 | 972.22 | 0.89 | -30.47 | 584.62 | 0.11 | -31.25 | -31.25 | 17.28 | 19.75 | 164.22 | 132.90 | -7.8 | 19.46 | 36.92 | -46.49 | 136.92 | 63.08 | 103.47 | -68.46 | 15.01 | 29.29 | 9.64 |
| 22Q2 (14) | 22.18 | 10.84 | 35.82 | 6.54 | 10.29 | 28.49 | 9.47 | 52.74 | 228.82 | 7.31 | 70.0 | 213.73 | 3.00 | 73.41 | 284.62 | 1.28 | 70.67 | 178.26 | 0.16 | 0.0 | -5.88 | 14.43 | 27.93 | 67.99 | 144.14 | -7.29 | 39.09 | 69.00 | -27.55 | -60.57 | 31.00 | 551.0 | 141.33 | 11.61 | -10.28 | -12.71 |
| 22Q1 (13) | 20.01 | 4.65 | 6.21 | 5.93 | 323.57 | 37.59 | 6.20 | 4328.57 | 16.98 | 4.30 | 1203.03 | -6.52 | 1.73 | 981.25 | 31.06 | 0.75 | 525.0 | -3.85 | 0.16 | -27.27 | 0.0 | 11.28 | 187.02 | -1.05 | 155.47 | 9.8 | 70.71 | 95.24 | -88.8 | 16.07 | 4.76 | 100.63 | -73.47 | 12.94 | 32.45 | -13.73 |
| 21Q4 (12) | 19.12 | 34.74 | -14.14 | 1.40 | 369.23 | -85.77 | 0.14 | -68.18 | -97.86 | 0.33 | -37.74 | -92.2 | 0.16 | -11.11 | -86.09 | 0.12 | -7.69 | -83.1 | 0.22 | 37.5 | 37.5 | 3.93 | -39.91 | -68.46 | 141.60 | 27.28 | 103.19 | 850.00 | 950.0 | 470.71 | -750.00 | -475.0 | -1368.75 | 9.77 | -28.63 | -31.68 |
| 21Q3 (11) | 14.19 | -13.1 | -54.17 | -0.52 | -110.22 | -102.76 | 0.44 | -84.72 | -97.16 | 0.53 | -77.25 | -95.67 | 0.18 | -76.92 | -95.36 | 0.13 | -71.74 | -94.44 | 0.16 | -5.88 | -15.79 | 6.54 | -23.86 | -68.71 | 111.25 | 7.35 | 63.82 | -100.00 | -157.14 | -182.67 | 200.00 | 366.67 | 1018.52 | 13.69 | 2.93 | 0 |
| 21Q2 (10) | 16.33 | -13.32 | -45.71 | 5.09 | 18.1 | -68.68 | 2.88 | -45.66 | -80.89 | 2.33 | -49.35 | -80.74 | 0.78 | -40.91 | -78.98 | 0.46 | -41.03 | -78.7 | 0.17 | 6.25 | -5.56 | 8.59 | -24.65 | -58.62 | 103.63 | 13.79 | 43.69 | 175.00 | 113.28 | 61.87 | -75.00 | -517.86 | -825.0 | 13.30 | -11.33 | 0 |
| 21Q1 (9) | 18.84 | -15.4 | -24.34 | 4.31 | -56.2 | -57.95 | 5.30 | -18.96 | -58.3 | 4.60 | 8.75 | -51.78 | 1.32 | 14.78 | -45.45 | 0.78 | 9.86 | -46.21 | 0.16 | 0.0 | 6.67 | 11.40 | -8.51 | -42.83 | 91.07 | 30.68 | 17.83 | 82.05 | -44.91 | 0.99 | 17.95 | 135.15 | -10.26 | 15.00 | 4.9 | -1.25 |
| 20Q4 (8) | 22.27 | -28.07 | -6.31 | 9.84 | -47.69 | 17.84 | 6.54 | -57.75 | -15.28 | 4.23 | -65.47 | -62.13 | 1.15 | -70.36 | -68.83 | 0.71 | -69.66 | -69.92 | 0.16 | -15.79 | -23.81 | 12.46 | -40.38 | -1.5 | 69.69 | 2.62 | 3.52 | 148.94 | 23.12 | 38.45 | -51.06 | -134.52 | -574.04 | 14.30 | 0 | 0 |
| 20Q3 (7) | 30.96 | 2.93 | 17.27 | 18.81 | 15.75 | 40.27 | 15.48 | 2.72 | 24.84 | 12.25 | 1.24 | 35.06 | 3.88 | 4.58 | 30.64 | 2.34 | 8.33 | 21.24 | 0.19 | 5.56 | -9.52 | 20.90 | 0.67 | 25.68 | 67.91 | -5.84 | 37.3 | 120.97 | 11.9 | 12.25 | -21.77 | -168.55 | -180.34 | 0.00 | 0 | -100.0 |
| 20Q2 (6) | 30.08 | 20.8 | 15.07 | 16.25 | 58.54 | 10.24 | 15.07 | 18.57 | -10.67 | 12.10 | 26.83 | -11.29 | 3.71 | 53.31 | -25.8 | 2.16 | 48.97 | -32.92 | 0.18 | 20.0 | -21.74 | 20.76 | 4.11 | 1.52 | 72.12 | -6.69 | 12.69 | 108.11 | 33.06 | 23.78 | -8.11 | -140.54 | -164.05 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 24.90 | 4.75 | -6.07 | 10.25 | 22.75 | -26.42 | 12.71 | 64.64 | -17.57 | 9.54 | -14.59 | -22.12 | 2.42 | -34.42 | -40.98 | 1.45 | -38.56 | -46.89 | 0.15 | -28.57 | -31.82 | 19.94 | 57.63 | 4.02 | 77.29 | 14.81 | 58.02 | 81.25 | -24.47 | -10.49 | 20.00 | 364.0 | 100.0 | 15.19 | 0 | 18.76 |
| 19Q4 (4) | 23.77 | -9.96 | 0.0 | 8.35 | -37.73 | 0.0 | 7.72 | -37.74 | 0.0 | 11.17 | 23.15 | 0.0 | 3.69 | 24.24 | 0.0 | 2.36 | 22.28 | 0.0 | 0.21 | 0.0 | 0.0 | 12.65 | -23.93 | 0.0 | 67.32 | 36.11 | 0.0 | 107.58 | -0.18 | 0.0 | -7.58 | 2.46 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 26.40 | 0.99 | 0.0 | 13.41 | -9.02 | 0.0 | 12.40 | -26.5 | 0.0 | 9.07 | -33.5 | 0.0 | 2.97 | -40.6 | 0.0 | 1.93 | -40.06 | 0.0 | 0.21 | -8.7 | 0.0 | 16.63 | -18.68 | 0.0 | 49.46 | -22.72 | 0.0 | 107.77 | 23.39 | 0.0 | -7.77 | -161.36 | 0.0 | 12.99 | 7.36 | 0.0 |
| 19Q2 (2) | 26.14 | -1.4 | 0.0 | 14.74 | 5.81 | 0.0 | 16.87 | 9.4 | 0.0 | 13.64 | 11.35 | 0.0 | 5.00 | 21.95 | 0.0 | 3.22 | 17.95 | 0.0 | 0.23 | 4.55 | 0.0 | 20.45 | 6.68 | 0.0 | 64.00 | 30.85 | 0.0 | 87.34 | -3.78 | 0.0 | 12.66 | 26.58 | 0.0 | 12.10 | -5.39 | 0.0 |
| 19Q1 (1) | 26.51 | 0.0 | 0.0 | 13.93 | 0.0 | 0.0 | 15.42 | 0.0 | 0.0 | 12.25 | 0.0 | 0.0 | 4.10 | 0.0 | 0.0 | 2.73 | 0.0 | 0.0 | 0.22 | 0.0 | 0.0 | 19.17 | 0.0 | 0.0 | 48.91 | 0.0 | 0.0 | 90.77 | 0.0 | 0.0 | 10.00 | 0.0 | 0.0 | 12.79 | 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) | 15.47 | -26.75 | -0.34 | 0 | 9.36 | 68.8 | 0.23 | -95.84 | -3.54 | 0 | -3.77 | 0 | -0.56 | 0 | 0.43 | -18.87 | 12.73 | 2.83 | 155.90 | 8.21 | -150.00 | 0 | 266.67 | 1564.37 | 0.03 | -92.42 | 18.11 | 13.9 |
| 2022 (9) | 21.12 | 22.08 | 4.64 | 93.33 | 5.55 | 19.94 | 5.53 | 192.59 | 3.96 | 132.94 | 5.06 | 111.72 | 2.52 | 82.61 | 0.53 | -23.19 | 12.38 | 73.88 | 144.07 | 1.74 | 83.43 | -34.79 | 16.02 | 0 | 0.42 | -16.0 | 15.90 | 26.79 |
| 2021 (8) | 17.30 | -36.54 | 2.40 | -82.92 | 4.62 | -14.56 | 1.89 | -84.94 | 1.70 | -82.35 | 2.39 | -77.26 | 1.38 | -78.47 | 0.69 | 6.15 | 7.12 | -61.72 | 141.60 | 103.19 | 127.94 | 14.36 | -26.47 | 0 | 0.50 | -38.83 | 12.54 | -6.97 |
| 2020 (7) | 27.26 | 6.03 | 14.05 | 11.07 | 5.41 | 41.14 | 12.55 | -4.92 | 9.63 | -16.98 | 10.51 | -33.94 | 6.41 | -35.71 | 0.65 | -23.53 | 18.60 | 7.51 | 69.69 | 3.52 | 111.88 | 16.72 | -11.88 | 0 | 0.82 | -25.09 | 13.48 | 3.61 |
| 2019 (6) | 25.71 | 18.64 | 12.65 | 45.91 | 3.84 | 8.81 | 13.20 | 25.0 | 11.60 | 11.32 | 15.91 | 28.31 | 9.97 | 21.88 | 0.85 | 10.39 | 17.30 | 20.73 | 67.32 | 23.21 | 95.85 | 17.03 | 4.15 | -77.07 | 1.09 | 1961.91 | 13.01 | -0.15 |
| 2018 (5) | 21.67 | -14.25 | 8.67 | -41.18 | 3.52 | 75.47 | 10.56 | -24.68 | 10.42 | -22.41 | 12.40 | -34.91 | 8.18 | -36.83 | 0.77 | -19.79 | 14.33 | -11.27 | 54.64 | 3.94 | 81.90 | -22.02 | 18.10 | 0 | 0.05 | 0 | 13.03 | 20.98 |
| 2017 (4) | 25.27 | -15.23 | 14.74 | -20.19 | 2.01 | -23.34 | 14.02 | -30.83 | 13.43 | -17.25 | 19.05 | -25.9 | 12.95 | -25.19 | 0.96 | -10.28 | 16.15 | -29.66 | 52.57 | 22.48 | 105.03 | 15.4 | -5.22 | 0 | 0.00 | 0 | 10.77 | -6.59 |
| 2016 (3) | 29.81 | 8.99 | 18.47 | 21.75 | 2.62 | -13.3 | 20.27 | 21.74 | 16.23 | 25.43 | 25.71 | 4.55 | 17.31 | 18.56 | 1.07 | -4.46 | 22.96 | 15.84 | 42.92 | -25.06 | 91.01 | -0.1 | 8.85 | -0.54 | 0.00 | 0 | 11.53 | 10.65 |
| 2015 (2) | 27.35 | 11.86 | 15.17 | 7.06 | 3.02 | 35.4 | 16.65 | 44.91 | 12.94 | 53.14 | 24.59 | 23.07 | 14.60 | 35.31 | 1.12 | -10.4 | 19.82 | 41.47 | 57.27 | -30.24 | 91.10 | -26.13 | 8.90 | 0 | 0.00 | 0 | 10.42 | 17.47 |
| 2014 (1) | 24.45 | 0 | 14.17 | 0 | 2.23 | -12.17 | 11.49 | 0 | 8.45 | 0 | 19.98 | 0 | 10.79 | 0 | 1.25 | 0 | 14.01 | -29.06 | 82.09 | -15.35 | 123.33 | 50.49 | -23.33 | 0 | 0.00 | 0 | 8.87 | -7.89 |
