- 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) | 14.87 | 0.54 | 20.99 | 5.93 | -35.05 | -4.35 | 7.38 | -27.5 | 12.5 | 8.71 | 2.47 | 72.13 | 1.69 | -0.59 | 10.46 | 1.43 | 2.88 | 25.44 | 0.16 | 0.0 | -23.81 | 13.00 | -16.4 | 30.78 | 22.17 | -19.73 | -45.27 | 80.00 | -10.4 | -16.73 | 20.00 | 86.67 | 240.0 | 11.45 | 30.26 | 58.15 |
| 23Q3 (19) | 14.79 | -26.53 | 78.19 | 9.13 | -30.46 | 188.01 | 10.18 | -27.95 | 134.02 | 8.50 | -28.27 | 135.46 | 1.70 | -44.81 | 120.78 | 1.39 | -42.56 | 135.59 | 0.16 | -20.0 | 6.67 | 15.55 | -13.85 | 72.01 | 27.62 | -6.82 | -33.97 | 89.29 | -3.99 | 26.05 | 10.71 | 53.06 | -57.14 | 8.79 | 28.13 | 0.57 |
| 23Q2 (18) | 20.13 | 8.63 | 69.02 | 13.13 | 3.63 | 114.19 | 14.13 | 8.69 | 103.31 | 11.85 | 8.92 | 103.26 | 3.08 | -25.06 | 204.95 | 2.42 | -21.68 | 214.29 | 0.20 | -28.57 | 53.85 | 18.05 | 15.19 | 44.75 | 29.64 | 2.28 | -28.78 | 93.00 | -4.82 | 6.29 | 7.00 | 205.67 | -44.0 | 6.86 | 37.47 | -30.92 |
| 23Q1 (17) | 18.53 | 50.77 | 14.67 | 12.67 | 104.35 | 18.63 | 13.00 | 98.17 | 13.64 | 10.88 | 115.02 | 12.05 | 4.11 | 168.63 | 141.76 | 3.09 | 171.05 | 139.53 | 0.28 | 33.33 | 115.38 | 15.67 | 57.65 | -5.6 | 28.98 | -28.46 | -12.39 | 97.71 | 1.7 | 3.46 | 2.29 | -61.07 | -69.08 | 4.99 | -31.08 | -46.63 |
| 22Q4 (16) | 12.29 | 48.07 | -37.36 | 6.20 | 95.58 | -52.12 | 6.56 | 50.8 | -50.27 | 5.06 | 40.17 | -54.98 | 1.53 | 98.7 | -40.23 | 1.14 | 93.22 | -40.93 | 0.21 | 40.0 | 23.53 | 9.94 | 9.96 | -42.54 | 40.51 | -3.16 | 8.66 | 96.08 | 35.64 | -2.71 | 5.88 | -76.47 | 370.59 | 7.24 | -17.16 | -25.21 |
| 22Q3 (15) | 8.30 | -30.31 | -61.7 | 3.17 | -48.29 | -80.95 | 4.35 | -37.41 | -75.19 | 3.61 | -38.08 | -77.38 | 0.77 | -23.76 | -77.87 | 0.59 | -23.38 | -77.48 | 0.15 | 15.38 | -6.25 | 9.04 | -27.51 | -58.59 | 41.83 | 0.5 | 31.5 | 70.83 | -19.05 | -25.4 | 25.00 | 100.0 | 395.0 | 8.74 | -11.98 | 6.07 |
| 22Q2 (14) | 11.91 | -26.3 | -38.77 | 6.13 | -42.6 | -57.52 | 6.95 | -39.25 | -50.07 | 5.83 | -39.96 | -53.95 | 1.01 | -40.59 | -63.41 | 0.77 | -40.31 | -61.69 | 0.13 | 0.0 | -18.75 | 12.47 | -24.88 | -31.71 | 41.62 | 25.82 | 8.98 | 87.50 | -7.35 | -15.78 | 12.50 | 68.75 | 420.83 | 9.93 | 6.2 | 27.8 |
| 22Q1 (13) | 16.16 | -17.64 | 25.27 | 10.68 | -17.53 | 20.54 | 11.44 | -13.27 | 23.94 | 9.71 | -13.61 | 14.91 | 1.70 | -33.59 | -33.33 | 1.29 | -33.16 | -27.53 | 0.13 | -23.53 | -35.0 | 16.60 | -4.05 | 34.41 | 33.08 | -11.27 | -20.99 | 94.44 | -4.36 | -1.26 | 7.41 | 492.59 | 70.37 | 9.35 | -3.41 | 53.78 |
| 21Q4 (12) | 19.62 | -9.46 | 243.95 | 12.95 | -22.18 | 171.23 | 13.19 | -24.76 | 170.72 | 11.24 | -29.57 | 160.14 | 2.56 | -26.44 | 144.6 | 1.93 | -26.34 | 154.37 | 0.17 | 6.25 | -10.53 | 17.30 | -20.75 | 212.12 | 37.28 | 17.2 | -29.07 | 98.75 | 4.0 | 1.57 | 1.25 | -75.25 | -55.0 | 9.68 | 17.48 | 43.83 |
| 21Q3 (11) | 21.67 | 11.41 | 216800.0 | 16.64 | 15.32 | 484.3 | 17.53 | 25.93 | 485.27 | 15.96 | 26.07 | 512.4 | 3.48 | 26.09 | 437.86 | 2.62 | 30.35 | 576.36 | 0.16 | 0.0 | 0.0 | 21.83 | 19.55 | 2305.05 | 31.81 | -16.71 | -50.9 | 94.95 | -8.61 | -1.99 | 5.05 | 229.63 | -19.19 | 8.24 | 6.05 | 69.2 |
| 21Q2 (10) | 19.45 | 50.78 | 370.94 | 14.43 | 62.87 | 774.3 | 13.92 | 50.81 | 580.0 | 12.66 | 49.82 | 697.17 | 2.76 | 8.24 | 866.67 | 2.01 | 12.92 | 1440.0 | 0.16 | -20.0 | 60.0 | 18.26 | 47.85 | 607.75 | 38.19 | -8.79 | -42.82 | 103.90 | 8.62 | 45.45 | -3.90 | -189.61 | -113.64 | 7.77 | 27.8 | 0 |
| 21Q1 (9) | 12.90 | 194.64 | -12.54 | 8.86 | 148.73 | -1.23 | 9.23 | 149.49 | -6.1 | 8.45 | 145.21 | 7.37 | 2.55 | 144.43 | 79.58 | 1.78 | 150.14 | 91.4 | 0.20 | 5.26 | 81.82 | 12.35 | 180.04 | -18.37 | 41.87 | -20.34 | -35.57 | 95.65 | -1.61 | 4.35 | 4.35 | 56.52 | -47.83 | 6.08 | -9.66 | -31.61 |
| 20Q4 (8) | -13.63 | -136200.0 | -203.73 | -18.18 | -319.86 | -347.01 | -18.65 | -309.89 | -403.25 | -18.69 | -382.95 | -453.98 | -5.74 | -457.28 | -641.51 | -3.55 | -545.45 | -600.0 | 0.19 | 18.75 | 58.33 | -15.43 | -1458.59 | -242.87 | 52.56 | -18.86 | -23.35 | 97.22 | 0.36 | -19.79 | 2.78 | -55.56 | 113.1 | 6.73 | 38.19 | -21.38 |
| 20Q3 (7) | -0.01 | -100.24 | -100.11 | -4.33 | -102.34 | -177.6 | -4.55 | -56.9 | -178.31 | -3.87 | -82.55 | -185.62 | -1.03 | -186.11 | -181.1 | -0.55 | -266.67 | -163.95 | 0.16 | 60.0 | -5.88 | -0.99 | -138.37 | -110.57 | 64.78 | -3.01 | -7.43 | 96.88 | 35.62 | -0.82 | 6.25 | -78.12 | 34.38 | 4.87 | 0 | -19.24 |
| 20Q2 (6) | 4.13 | -72.0 | -51.24 | -2.14 | -123.86 | -145.53 | -2.90 | -129.5 | -158.35 | -2.12 | -126.94 | -158.73 | -0.36 | -125.35 | -135.29 | -0.15 | -116.13 | -120.0 | 0.10 | -9.09 | -47.37 | 2.58 | -82.95 | -66.97 | 66.79 | 2.77 | 3.31 | 71.43 | -22.08 | -22.45 | 28.57 | 242.86 | 442.86 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 14.75 | 12.25 | 52.69 | 8.97 | 21.88 | 74.51 | 9.83 | 59.84 | 72.15 | 7.87 | 49.05 | 73.35 | 1.42 | 33.96 | 33.96 | 0.93 | 30.99 | 6.9 | 0.11 | -8.33 | -38.89 | 15.13 | 40.09 | 73.91 | 64.99 | -5.22 | 85.42 | 91.67 | -24.38 | 3.13 | 8.33 | 139.29 | -25.0 | 8.89 | 3.86 | 31.31 |
| 19Q4 (4) | 13.14 | 42.67 | 0.0 | 7.36 | 31.9 | 0.0 | 6.15 | 5.85 | 0.0 | 5.28 | 16.81 | 0.0 | 1.06 | -16.54 | 0.0 | 0.71 | -17.44 | 0.0 | 0.12 | -29.41 | 0.0 | 10.80 | 15.26 | 0.0 | 68.57 | -2.01 | 0.0 | 121.21 | 24.1 | 0.0 | -21.21 | -556.06 | 0.0 | 8.56 | 41.96 | 0.0 |
| 19Q3 (3) | 9.21 | 8.74 | 0.0 | 5.58 | 18.72 | 0.0 | 5.81 | 16.9 | 0.0 | 4.52 | 25.21 | 0.0 | 1.27 | 24.51 | 0.0 | 0.86 | 14.67 | 0.0 | 0.17 | -10.53 | 0.0 | 9.37 | 19.97 | 0.0 | 69.98 | 8.24 | 0.0 | 97.67 | 6.05 | 0.0 | 4.65 | -11.63 | 0.0 | 6.03 | 5.79 | 0.0 |
| 19Q2 (2) | 8.47 | -12.32 | 0.0 | 4.70 | -8.56 | 0.0 | 4.97 | -12.96 | 0.0 | 3.61 | -20.48 | 0.0 | 1.02 | -3.77 | 0.0 | 0.75 | -13.79 | 0.0 | 0.19 | 5.56 | 0.0 | 7.81 | -10.23 | 0.0 | 64.65 | 84.45 | 0.0 | 92.11 | 3.62 | 0.0 | 5.26 | -52.63 | 0.0 | 5.70 | -15.81 | 0.0 |
| 19Q1 (1) | 9.66 | 0.0 | 0.0 | 5.14 | 0.0 | 0.0 | 5.71 | 0.0 | 0.0 | 4.54 | 0.0 | 0.0 | 1.06 | 0.0 | 0.0 | 0.87 | 0.0 | 0.0 | 0.18 | 0.0 | 0.0 | 8.70 | 0.0 | 0.0 | 35.05 | 0.0 | 0.0 | 88.89 | 0.0 | 0.0 | 11.11 | 0.0 | 0.0 | 6.77 | 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) | 17.49 | 44.9 | 10.79 | 68.59 | 3.66 | -11.15 | 11.64 | 63.03 | 10.24 | 75.04 | 10.58 | 112.88 | 8.30 | 121.93 | 0.79 | 29.51 | 15.70 | 34.88 | 22.17 | -45.27 | 92.68 | 2.91 | 7.32 | -30.7 | 0.23 | -5.69 | 7.46 | -13.15 |
| 2022 (9) | 12.07 | -33.06 | 6.40 | -50.35 | 4.12 | 13.12 | 7.14 | -45.74 | 5.85 | -50.42 | 4.97 | -56.25 | 3.74 | -53.25 | 0.61 | -8.96 | 11.64 | -31.93 | 40.51 | 8.66 | 90.06 | -8.24 | 10.56 | 471.95 | 0.25 | 81.47 | 8.59 | 9.57 |
| 2021 (8) | 18.03 | 0 | 12.89 | 0 | 3.64 | 5.45 | 13.16 | 0 | 11.80 | 0 | 11.36 | 0 | 8.00 | 0 | 0.67 | 13.56 | 17.10 | 0 | 37.28 | -29.07 | 98.15 | 1.02 | 1.85 | -47.94 | 0.14 | 25.64 | 7.84 | 11.05 |
| 2020 (7) | -0.56 | 0 | -5.63 | 0 | 3.45 | 22.91 | -5.81 | 0 | -5.87 | 0 | -5.56 | 0 | -3.15 | 0 | 0.59 | -13.24 | -1.68 | 0 | 52.56 | -23.35 | 97.16 | -2.18 | 3.55 | 431.91 | 0.11 | 22.41 | 7.06 | 6.65 |
| 2019 (6) | 9.90 | -32.93 | 5.58 | -39.74 | 2.81 | 69.23 | 5.62 | -44.9 | 4.42 | -47.07 | 4.38 | -46.26 | 3.32 | -49.92 | 0.68 | -12.82 | 9.06 | -24.88 | 68.57 | 188.59 | 99.33 | 9.62 | 0.67 | -92.61 | 0.09 | -2.5 | 6.62 | 2.48 |
| 2018 (5) | 14.76 | -19.61 | 9.26 | -22.9 | 1.66 | 3.9 | 10.20 | -19.24 | 8.35 | -23.53 | 8.15 | -20.33 | 6.63 | -16.5 | 0.78 | 9.86 | 12.06 | -17.17 | 23.76 | -10.14 | 90.61 | -4.8 | 9.03 | 87.27 | 0.09 | 0 | 6.46 | -0.46 |
| 2017 (4) | 18.36 | -26.56 | 12.01 | -36.32 | 1.60 | -9.13 | 12.63 | -26.36 | 10.92 | -31.23 | 10.23 | -42.37 | 7.94 | -30.41 | 0.71 | 1.43 | 14.56 | -25.49 | 26.44 | -30.71 | 95.18 | -13.5 | 4.82 | 0 | 0.00 | 0 | 6.49 | -11.94 |
| 2016 (3) | 25.00 | 99.04 | 18.86 | 281.78 | 1.76 | -43.25 | 17.15 | 173.96 | 15.88 | 357.64 | 17.75 | 554.98 | 11.41 | 523.5 | 0.70 | 75.0 | 19.54 | 82.96 | 38.16 | -56.13 | 110.04 | 38.44 | -9.84 | 0 | 0.00 | 0 | 7.37 | -26.37 |
| 2015 (2) | 12.56 | -44.65 | 4.94 | -69.8 | 3.10 | 121.15 | 6.26 | -62.29 | 3.47 | -76.82 | 2.71 | -90.52 | 1.83 | -84.94 | 0.40 | -48.72 | 10.68 | -43.22 | 86.99 | -14.2 | 79.49 | -19.38 | 21.37 | 1419.23 | 0.00 | 0 | 10.01 | 70.53 |
| 2014 (1) | 22.69 | 0 | 16.36 | 0 | 1.40 | -30.91 | 16.60 | 0 | 14.97 | 0 | 28.58 | 0 | 12.15 | 0 | 0.78 | 44.44 | 18.81 | 4.67 | 101.39 | -49.08 | 98.59 | 0.01 | 1.41 | -0.61 | 0.00 | 0 | 5.87 | -23.27 |
