- 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) | 18.93 | 14.17 | -27.0 | -9.86 | 18.44 | -206.21 | -9.41 | -586.86 | -121.22 | -3.65 | 73.02 | -111.79 | -0.48 | 71.08 | -109.34 | -0.18 | 79.78 | -105.92 | 0.08 | 14.29 | -20.0 | 4.66 | -61.58 | -91.35 | 69.65 | 3.23 | -9.83 | 106.82 | -88.13 | 1595.45 | -4.55 | 99.43 | -104.24 | 29.33 | -4.83 | 18.08 |
| 23Q3 (19) | 16.58 | -26.73 | -25.25 | -12.09 | -782.48 | -1533.78 | -1.37 | -166.5 | -127.57 | -13.53 | -35.84 | -259.84 | -1.66 | -3.75 | -144.12 | -0.89 | -3.49 | -187.1 | 0.07 | -22.22 | -30.0 | 12.13 | 3.23 | -16.34 | 67.47 | -3.56 | -5.79 | 900.00 | 1450.0 | 6850.0 | -800.00 | -580.0 | -805.88 | 30.82 | 19.0 | 31.09 |
| 23Q2 (18) | 22.63 | -20.2 | -21.29 | -1.37 | -134.34 | -117.06 | 2.06 | -96.93 | -80.27 | -9.96 | -119.47 | -383.76 | -1.60 | -118.33 | -300.0 | -0.86 | -116.8 | -262.26 | 0.09 | -10.0 | -30.77 | 11.75 | -84.63 | -36.76 | 69.96 | 0.5 | -10.08 | -66.67 | -1238.89 | -186.67 | 166.67 | 77.03 | 622.22 | 25.90 | 4.35 | 16.98 |
| 23Q1 (17) | 28.36 | 9.37 | -2.81 | 3.99 | 223.91 | -53.93 | 67.16 | 51.47 | 467.71 | 51.15 | 65.21 | 494.08 | 8.73 | 69.84 | 366.84 | 5.12 | 68.42 | 353.1 | 0.10 | 0.0 | -16.67 | 76.43 | 41.88 | 304.18 | 69.61 | -9.88 | -11.28 | 5.85 | 181.95 | -92.07 | 94.15 | -12.13 | 243.84 | 24.82 | -0.08 | 7.59 |
| 22Q4 (16) | 25.93 | 16.91 | 80.45 | -3.22 | -335.14 | 66.53 | 44.34 | 792.15 | -60.0 | 30.96 | 923.4 | -59.86 | 5.14 | 855.88 | -66.05 | 3.04 | 1080.65 | -64.24 | 0.10 | 0.0 | -9.09 | 53.87 | 271.52 | -54.87 | 77.24 | 7.85 | 5.98 | -7.14 | 46.43 | 17.61 | 107.14 | -5.46 | -1.4 | 24.84 | 5.66 | 2.43 |
| 22Q3 (15) | 22.18 | -22.85 | 32.81 | -0.74 | -109.22 | 88.4 | 4.97 | -52.39 | 564.49 | -3.76 | -207.12 | -22.88 | -0.68 | -185.0 | -19.3 | -0.31 | -158.49 | -24.0 | 0.10 | -23.08 | 0.0 | 14.50 | -21.96 | 64.77 | 71.62 | -7.94 | -17.36 | -13.33 | -117.33 | -102.35 | 113.33 | 391.11 | 124.29 | 23.51 | 6.19 | -11.28 |
| 22Q2 (14) | 28.75 | -1.47 | -1.74 | 8.03 | -7.27 | -18.97 | 10.44 | -11.75 | 14.47 | 3.51 | -59.23 | -12.47 | 0.80 | -57.22 | -24.53 | 0.53 | -53.1 | -20.9 | 0.13 | 8.33 | -13.33 | 18.58 | -1.75 | 15.26 | 77.80 | -0.84 | 0.92 | 76.92 | 4.22 | -29.15 | 23.08 | -15.72 | 369.23 | 22.14 | -4.03 | 7.48 |
| 22Q1 (13) | 29.18 | 103.06 | 2.49 | 8.66 | 190.02 | -3.56 | 11.83 | -89.33 | 32.92 | 8.61 | -88.84 | 28.51 | 1.87 | -87.65 | 14.72 | 1.13 | -86.71 | 11.88 | 0.12 | 9.09 | -14.29 | 18.91 | -84.16 | 15.23 | 78.46 | 7.66 | 3.96 | 73.81 | 951.35 | -26.19 | 27.38 | -74.8 | 1825.0 | 23.07 | -4.87 | 1.54 |
| 21Q4 (12) | 14.37 | -13.95 | -35.04 | -9.62 | -50.78 | -237.54 | 110.86 | 10460.75 | 6743.21 | 77.13 | 2620.59 | 5346.94 | 15.14 | 2756.14 | 5320.69 | 8.50 | 3500.0 | 14266.67 | 0.11 | 10.0 | 0.0 | 119.37 | 1256.48 | 893.92 | 72.88 | -15.9 | 0.62 | -8.67 | -101.53 | 95.12 | 108.67 | 123.29 | -60.88 | 24.25 | -8.49 | 32.44 |
| 21Q3 (11) | 16.70 | -42.93 | -34.66 | -6.38 | -164.38 | -283.33 | -1.07 | -111.73 | -110.55 | -3.06 | -176.31 | -138.06 | -0.57 | -153.77 | -134.55 | -0.25 | -137.31 | -125.0 | 0.10 | -33.33 | -16.67 | 8.80 | -45.41 | -55.56 | 86.66 | 12.41 | 15.1 | 566.67 | 421.93 | 1519.05 | -466.67 | -5344.44 | -817.95 | 26.50 | 28.64 | 2.91 |
| 21Q2 (10) | 29.26 | 2.77 | -1.32 | 9.91 | 10.36 | 17.56 | 9.12 | 2.47 | 40.52 | 4.01 | -40.15 | 131.79 | 1.06 | -34.97 | 202.86 | 0.67 | -33.66 | 131.03 | 0.15 | 7.14 | 25.0 | 16.12 | -1.77 | -0.56 | 77.09 | 2.15 | 0.56 | 108.57 | 8.57 | -15.8 | -8.57 | -440.0 | 70.39 | 20.60 | -9.33 | 0 |
| 21Q1 (9) | 28.47 | 28.71 | -4.88 | 8.98 | 415.09 | 30.14 | 8.90 | 449.38 | 16.34 | 6.70 | 555.78 | -0.3 | 1.63 | 662.07 | 13.99 | 1.01 | 1783.33 | 10.99 | 0.14 | 27.27 | 16.67 | 16.41 | 36.64 | -9.69 | 75.47 | 4.2 | 3.07 | 100.00 | 156.25 | 11.9 | -1.59 | -100.57 | -114.92 | 22.72 | 24.09 | 0.84 |
| 20Q4 (8) | 22.12 | -13.46 | 48.56 | -2.85 | -181.9 | 64.73 | 1.62 | -84.02 | 115.52 | -1.47 | -118.28 | 84.04 | -0.29 | -117.58 | 84.97 | -0.06 | -106.0 | 93.62 | 0.11 | -8.33 | -8.33 | 12.01 | -39.34 | 1747.69 | 72.43 | -3.8 | -6.28 | -177.78 | -607.94 | -332.2 | 277.78 | 327.35 | 1169.84 | 18.31 | -28.89 | 0 |
| 20Q3 (7) | 25.56 | -13.79 | 17.41 | 3.48 | -58.72 | 1187.5 | 10.14 | 56.24 | 651.09 | 8.04 | 364.74 | 291.89 | 1.65 | 371.43 | 287.5 | 1.00 | 244.83 | 356.41 | 0.12 | 0.0 | 0.0 | 19.80 | 22.15 | 170.86 | 75.29 | -1.79 | -0.04 | 35.00 | -72.86 | 110.0 | 65.00 | 324.55 | -22.0 | 25.75 | 0 | -0.12 |
| 20Q2 (6) | 29.65 | -0.94 | 17.05 | 8.43 | 22.17 | 97.42 | 6.49 | -15.16 | 101.55 | 1.73 | -74.26 | -6.99 | 0.35 | -75.52 | -30.0 | 0.29 | -68.13 | -25.64 | 0.12 | 0.0 | -20.0 | 16.21 | -10.79 | 43.58 | 76.66 | 4.7 | -1.24 | 128.95 | 44.3 | -1.39 | -28.95 | -372.11 | 5.92 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 29.93 | 101.01 | 20.64 | 6.90 | 185.4 | 43.15 | 7.65 | 173.28 | 54.23 | 6.72 | 172.96 | 94.22 | 1.43 | 174.09 | 53.76 | 0.91 | 196.81 | 40.0 | 0.12 | 0.0 | -25.0 | 18.17 | 2695.38 | 40.09 | 73.22 | -5.25 | -2.97 | 89.36 | 16.72 | -8.35 | 10.64 | -51.37 | 325.53 | 22.53 | 0 | 18.95 |
| 19Q4 (4) | 14.89 | -31.6 | 0.0 | -8.08 | -2425.0 | 0.0 | -10.44 | -467.39 | 0.0 | -9.21 | -119.81 | 0.0 | -1.93 | -119.32 | 0.0 | -0.94 | -141.03 | 0.0 | 0.12 | 0.0 | 0.0 | 0.65 | -91.11 | 0.0 | 77.28 | 2.6 | 0.0 | 76.56 | 359.38 | 0.0 | 21.88 | -73.75 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 21.77 | -14.05 | 0.0 | -0.32 | -107.49 | 0.0 | -1.84 | -157.14 | 0.0 | -4.19 | -325.27 | 0.0 | -0.88 | -276.0 | 0.0 | -0.39 | -200.0 | 0.0 | 0.12 | -20.0 | 0.0 | 7.31 | -35.25 | 0.0 | 75.32 | -2.96 | 0.0 | 16.67 | -87.25 | 0.0 | 83.33 | 370.83 | 0.0 | 25.78 | 35.33 | 0.0 |
| 19Q2 (2) | 25.33 | 2.1 | 0.0 | 4.27 | -11.41 | 0.0 | 3.22 | -35.08 | 0.0 | 1.86 | -46.24 | 0.0 | 0.50 | -46.24 | 0.0 | 0.39 | -40.0 | 0.0 | 0.15 | -6.25 | 0.0 | 11.29 | -12.95 | 0.0 | 77.62 | 2.86 | 0.0 | 130.77 | 34.12 | 0.0 | -30.77 | -1330.77 | 0.0 | 19.05 | 0.58 | 0.0 |
| 19Q1 (1) | 24.81 | 0.0 | 0.0 | 4.82 | 0.0 | 0.0 | 4.96 | 0.0 | 0.0 | 3.46 | 0.0 | 0.0 | 0.93 | 0.0 | 0.0 | 0.65 | 0.0 | 0.0 | 0.16 | 0.0 | 0.0 | 12.97 | 0.0 | 0.0 | 75.46 | 0.0 | 0.0 | 97.50 | 0.0 | 0.0 | 2.50 | 0.0 | 0.0 | 18.94 | 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) | 22.18 | -17.12 | -3.98 | 0 | 9.83 | 31.96 | 17.57 | 4.03 | 8.34 | -9.05 | 5.04 | -29.31 | 3.29 | -25.06 | 0.35 | -20.45 | 28.89 | 14.1 | 69.65 | -9.83 | -22.58 | 0 | 122.58 | 57.76 | 0.13 | 3.66 | 27.39 | 17.6 |
| 2022 (9) | 26.76 | 16.15 | 3.77 | 107.14 | 7.45 | 0.9 | 16.89 | -44.59 | 9.17 | -54.58 | 7.13 | -58.16 | 4.39 | -56.58 | 0.44 | -10.2 | 25.32 | -34.37 | 77.24 | 5.98 | 22.30 | 270.23 | 77.70 | -17.32 | 0.13 | -8.3 | 23.29 | 0.3 |
| 2021 (8) | 23.04 | -14.29 | 1.82 | -55.28 | 7.39 | -17.81 | 30.48 | 366.06 | 20.19 | 424.42 | 17.04 | 446.15 | 10.11 | 376.89 | 0.49 | 6.52 | 38.58 | 132.27 | 72.88 | 0.62 | 6.02 | -90.4 | 93.98 | 147.91 | 0.14 | -28.98 | 23.22 | 6.66 |
| 2020 (7) | 26.88 | 21.3 | 4.07 | 435.53 | 8.99 | 16.9 | 6.54 | 0 | 3.85 | 0 | 3.12 | 0 | 2.12 | 0 | 0.46 | -17.86 | 16.61 | 93.14 | 72.43 | -8.44 | 62.75 | 0 | 37.91 | -87.77 | 0.20 | -7.93 | 21.77 | 7.14 |
| 2019 (6) | 22.16 | 7.52 | 0.76 | 0 | 7.69 | 33.17 | -0.34 | 0 | -1.40 | 0 | -1.37 | 0 | -0.29 | 0 | 0.56 | -9.68 | 8.60 | 3.61 | 79.11 | 13.48 | -220.00 | 0 | 310.00 | 197.35 | 0.22 | -0.96 | 20.32 | -0.68 |
| 2018 (5) | 20.61 | -7.5 | -0.04 | 0 | 5.77 | 1.53 | 1.47 | -39.26 | 0.55 | -67.65 | 0.59 | -67.58 | 0.68 | -48.87 | 0.62 | 0.0 | 8.30 | -8.19 | 69.71 | -6.19 | -2.13 | 0 | 104.26 | 1076.6 | 0.22 | 90.49 | 20.46 | 5.03 |
| 2017 (4) | 22.28 | -12.46 | 2.21 | -57.58 | 5.69 | 4.56 | 2.42 | -47.05 | 1.70 | -28.87 | 1.82 | -33.33 | 1.33 | -28.11 | 0.62 | -7.46 | 9.04 | -16.22 | 74.31 | 4.13 | 91.14 | -19.76 | 8.86 | 0 | 0.11 | 0 | 19.48 | 1.94 |
| 2016 (3) | 25.45 | 13.01 | 5.21 | 25.85 | 5.44 | 10.97 | 4.57 | 12.56 | 2.39 | 20.1 | 2.73 | 9.64 | 1.85 | 0.0 | 0.67 | -8.22 | 10.79 | 8.66 | 71.36 | 2.44 | 113.58 | 11.45 | -13.58 | 0 | 0.00 | 0 | 19.11 | 18.7 |
| 2015 (2) | 22.52 | 21.66 | 4.14 | -1.43 | 4.90 | 26.82 | 4.06 | -20.7 | 1.99 | -39.51 | 2.49 | -47.13 | 1.85 | -42.37 | 0.73 | -10.98 | 9.93 | -0.2 | 69.66 | -3.18 | 101.91 | 24.17 | -1.91 | 0 | 0.00 | 0 | 16.10 | 24.23 |
| 2014 (1) | 18.51 | 0 | 4.20 | 0 | 3.86 | -2.57 | 5.12 | 0 | 3.29 | 0 | 4.71 | 0 | 3.21 | 0 | 0.82 | -3.53 | 9.95 | 6.19 | 71.95 | -5.24 | 82.08 | -7.27 | 17.92 | 55.94 | 0.00 | 0 | 12.96 | 4.35 |
