- 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) | 7.41 | -28.61 | -60.16 | -0.29 | -110.78 | -102.55 | -10.75 | -637.5 | -7266.67 | -8.82 | -721.13 | -2000.0 | -2.34 | -700.0 | -1850.0 | -1.44 | -550.0 | -7100.0 | 0.17 | -5.56 | -10.53 | -4.89 | -166.44 | -205.16 | 55.80 | 5.05 | 5.96 | 2.68 | -98.01 | -99.97 | 97.32 | 382.54 | 101.26 | 8.53 | -1.5 | 14.96 |
| 23Q3 (19) | 10.38 | -12.03 | -13.57 | 2.69 | -38.16 | -33.74 | 2.00 | 194.34 | 145.25 | 1.42 | 147.81 | 131.14 | 0.39 | 151.32 | 127.08 | 0.32 | 176.19 | 138.55 | 0.18 | 5.88 | -10.0 | 7.36 | 114.58 | 3300.0 | 53.12 | -5.75 | -5.4 | 134.44 | 165.29 | 246.61 | -34.44 | -111.26 | -117.97 | 8.66 | -1.37 | 23.19 |
| 23Q2 (18) | 11.80 | -11.08 | -30.47 | 4.35 | -22.32 | -53.87 | -2.12 | 49.76 | -192.58 | -2.97 | 33.41 | -3400.0 | -0.76 | 34.48 | -2633.33 | -0.42 | 39.13 | -940.0 | 0.17 | 0.0 | -19.05 | 3.43 | 226.67 | -41.07 | 56.36 | 6.3 | -6.43 | -205.93 | -55.14 | -150.17 | 305.93 | 31.35 | 198.53 | 8.78 | -2.66 | 32.83 |
| 23Q1 (17) | 13.27 | -28.66 | -27.49 | 5.60 | -50.7 | -42.62 | -4.22 | -2913.33 | -173.01 | -4.46 | -961.9 | -204.45 | -1.16 | -866.67 | -189.92 | -0.69 | -3350.0 | -176.67 | 0.17 | -10.53 | -15.0 | 1.05 | -77.42 | -88.89 | 53.02 | 0.68 | 15.26 | -132.73 | -101.7 | -178.62 | 232.91 | 103.02 | 438.41 | 9.02 | 21.56 | 21.89 |
| 22Q4 (16) | 18.60 | 54.87 | -31.21 | 11.36 | 179.8 | -44.72 | 0.15 | 103.39 | -99.15 | -0.42 | 90.79 | -103.0 | -0.12 | 91.67 | -102.4 | -0.02 | 97.59 | -100.61 | 0.19 | -5.0 | -17.39 | 4.65 | 2121.74 | -77.62 | 52.66 | -6.22 | 0.42 | 7827.27 | 8635.62 | 6589.69 | -7722.73 | -4128.52 | -45314.45 | 7.42 | 5.55 | 9.93 |
| 22Q3 (15) | 12.01 | -29.23 | -41.24 | 4.06 | -56.95 | -70.54 | -4.42 | -293.01 | -130.57 | -4.56 | -5166.67 | -140.18 | -1.44 | -4900.0 | -135.91 | -0.83 | -1760.0 | -132.17 | 0.20 | -4.76 | -9.09 | -0.23 | -103.95 | -101.29 | 56.15 | -6.77 | -2.84 | -91.70 | -122.34 | -196.21 | 191.70 | 161.74 | 3994.74 | 7.03 | 6.35 | 1.15 |
| 22Q2 (14) | 16.97 | -7.27 | -29.82 | 9.43 | -3.38 | -46.99 | 2.29 | -60.38 | -88.12 | 0.09 | -97.89 | -99.41 | 0.03 | -97.67 | -99.43 | 0.05 | -94.44 | -98.52 | 0.21 | 5.0 | -4.55 | 5.82 | -38.41 | -74.47 | 60.23 | 30.93 | 2.85 | 410.49 | 143.14 | 344.55 | -310.49 | -351.12 | -4151.75 | 6.61 | -10.68 | -13.71 |
| 22Q1 (13) | 18.30 | -32.32 | -33.5 | 9.76 | -52.51 | -50.68 | 5.78 | -67.08 | -71.33 | 4.27 | -69.5 | -73.14 | 1.29 | -74.25 | -74.95 | 0.90 | -72.48 | -72.89 | 0.20 | -13.04 | -4.76 | 9.45 | -54.52 | -60.67 | 46.00 | -12.28 | -17.27 | 168.83 | 44.29 | 72.04 | -68.83 | -304.74 | -3783.88 | 7.40 | 9.63 | -4.39 |
| 21Q4 (12) | 27.04 | 32.29 | -8.15 | 20.55 | 49.13 | -7.97 | 17.56 | 21.44 | -24.54 | 14.00 | 23.35 | -26.08 | 5.01 | 24.94 | -21.1 | 3.27 | 26.74 | -17.84 | 0.23 | 4.55 | 9.52 | 20.78 | 16.41 | -24.13 | 52.44 | -9.26 | -10.66 | 117.01 | 22.75 | 21.95 | -17.01 | -463.23 | -519.23 | 6.75 | -2.88 | -15.09 |
| 21Q3 (11) | 20.44 | -15.47 | -0.34 | 13.78 | -22.54 | 1.7 | 14.46 | -24.96 | 2.41 | 11.35 | -25.43 | -0.87 | 4.01 | -23.33 | 21.88 | 2.58 | -23.44 | 27.72 | 0.22 | 0.0 | 29.41 | 17.85 | -21.71 | -7.27 | 57.79 | -1.31 | -10.85 | 95.32 | 3.23 | -0.66 | 4.68 | -38.91 | 15.59 | 6.95 | -9.27 | -26.14 |
| 21Q2 (10) | 24.18 | -12.14 | 74.08 | 17.79 | -10.11 | 160.85 | 19.27 | -4.41 | 144.23 | 15.22 | -4.28 | 147.88 | 5.23 | 1.55 | 226.88 | 3.37 | 1.51 | 240.4 | 0.22 | 4.76 | 46.67 | 22.80 | -5.12 | 65.82 | 58.56 | 5.32 | -16.72 | 92.34 | -5.91 | 6.67 | 7.66 | 310.16 | -43.45 | 7.66 | -1.03 | 0 |
| 21Q1 (9) | 27.52 | -6.52 | 69.88 | 19.79 | -11.37 | 126.69 | 20.16 | -13.36 | 157.8 | 15.90 | -16.05 | 179.44 | 5.15 | -18.9 | 219.88 | 3.32 | -16.58 | 238.78 | 0.21 | 0.0 | 31.25 | 24.03 | -12.27 | 76.3 | 55.60 | -5.28 | -25.08 | 98.13 | 2.28 | -12.06 | 1.87 | -53.94 | 116.13 | 7.74 | -2.64 | 0 |
| 20Q4 (8) | 29.44 | 43.54 | 107.18 | 22.33 | 64.8 | 214.95 | 23.27 | 64.8 | 245.77 | 18.94 | 65.41 | 276.54 | 6.35 | 93.01 | 260.8 | 3.98 | 97.03 | 282.69 | 0.21 | 23.53 | 10.53 | 27.39 | 42.29 | 135.92 | 58.70 | -9.44 | -28.69 | 95.94 | -0.01 | -8.91 | 4.06 | 0.15 | 176.16 | 7.95 | -15.52 | 0 |
| 20Q3 (7) | 20.51 | 47.66 | 73.96 | 13.55 | 98.68 | 157.12 | 14.12 | 78.96 | 171.02 | 11.45 | 86.48 | 180.64 | 3.29 | 105.62 | 122.3 | 2.02 | 104.04 | 132.18 | 0.17 | 13.33 | -10.53 | 19.25 | 40.0 | 98.66 | 64.82 | -7.82 | -24.18 | 95.95 | 10.84 | -5.09 | 4.05 | -70.11 | 469.07 | 9.41 | 0 | 8.41 |
| 20Q2 (6) | 13.89 | -14.26 | 27.55 | 6.82 | -21.88 | 60.09 | 7.89 | 0.9 | 19.36 | 6.14 | 7.91 | 26.34 | 1.60 | -0.62 | -13.98 | 0.99 | 1.02 | -6.6 | 0.15 | -6.25 | -25.0 | 13.75 | 0.88 | 26.61 | 70.32 | -5.24 | -21.43 | 86.57 | -22.42 | 34.41 | 13.55 | 216.96 | -61.93 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 16.20 | 14.0 | 40.14 | 8.73 | 23.13 | 93.57 | 7.82 | 16.2 | 39.89 | 5.69 | 13.12 | 31.71 | 1.61 | -8.52 | 2.55 | 0.98 | -5.77 | 7.69 | 0.16 | -15.79 | -15.79 | 13.63 | 17.4 | 34.68 | 74.21 | -9.85 | -17.69 | 111.59 | 5.94 | 38.15 | -11.59 | -117.53 | -159.83 | 0.00 | 0 | -100.0 |
| 19Q4 (4) | 14.21 | 20.53 | 0.0 | 7.09 | 34.54 | 0.0 | 6.73 | 29.17 | 0.0 | 5.03 | 23.28 | 0.0 | 1.76 | 18.92 | 0.0 | 1.04 | 19.54 | 0.0 | 0.19 | 0.0 | 0.0 | 11.61 | 19.81 | 0.0 | 82.32 | -3.71 | 0.0 | 105.33 | 4.18 | 0.0 | -5.33 | -385.34 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 11.79 | 8.26 | 0.0 | 5.27 | 23.71 | 0.0 | 5.21 | -21.18 | 0.0 | 4.08 | -16.05 | 0.0 | 1.48 | -20.43 | 0.0 | 0.87 | -17.92 | 0.0 | 0.19 | -5.0 | 0.0 | 9.69 | -10.77 | 0.0 | 85.49 | -4.48 | 0.0 | 101.10 | 56.97 | 0.0 | -1.10 | -103.08 | 0.0 | 8.68 | 15.89 | 0.0 |
| 19Q2 (2) | 10.89 | -5.8 | 0.0 | 4.26 | -5.54 | 0.0 | 6.61 | 18.25 | 0.0 | 4.86 | 12.5 | 0.0 | 1.86 | 18.47 | 0.0 | 1.06 | 16.48 | 0.0 | 0.20 | 5.26 | 0.0 | 10.86 | 7.31 | 0.0 | 89.50 | -0.73 | 0.0 | 64.41 | -20.26 | 0.0 | 35.59 | 83.83 | 0.0 | 7.49 | -7.3 | 0.0 |
| 19Q1 (1) | 11.56 | 0.0 | 0.0 | 4.51 | 0.0 | 0.0 | 5.59 | 0.0 | 0.0 | 4.32 | 0.0 | 0.0 | 1.57 | 0.0 | 0.0 | 0.91 | 0.0 | 0.0 | 0.19 | 0.0 | 0.0 | 10.12 | 0.0 | 0.0 | 90.16 | 0.0 | 0.0 | 80.77 | 0.0 | 0.0 | 19.36 | 0.0 | 0.0 | 8.08 | 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) | 10.73 | -34.85 | 3.10 | -64.08 | 4.88 | 37.77 | -3.71 | 0 | -3.65 | 0 | -3.87 | 0 | -2.23 | 0 | 0.69 | -15.85 | 1.80 | -64.0 | 55.80 | 5.96 | -83.58 | 0 | 183.58 | 0 | 0.43 | 5.94 | 8.75 | 23.24 |
| 2022 (9) | 16.47 | -33.43 | 8.63 | -51.92 | 3.54 | 11.76 | 1.05 | -94.09 | -0.09 | 0 | -0.11 | 0 | 0.14 | -98.89 | 0.82 | -7.87 | 5.00 | -76.48 | 52.66 | 0.42 | 822.96 | 714.59 | -722.96 | 0 | 0.41 | 10.5 | 7.10 | -2.07 |
| 2021 (8) | 24.74 | 18.49 | 17.95 | 30.83 | 3.17 | -30.25 | 17.77 | 25.23 | 14.05 | 24.12 | 19.32 | 49.42 | 12.60 | 59.9 | 0.89 | 32.84 | 21.26 | 10.04 | 52.44 | -10.66 | 101.03 | 4.49 | -1.02 | 0 | 0.37 | 2.23 | 7.25 | -20.07 |
| 2020 (7) | 20.88 | 72.56 | 13.72 | 160.34 | 4.54 | 17.14 | 14.19 | 134.93 | 11.32 | 147.7 | 12.93 | 92.41 | 7.88 | 100.0 | 0.67 | -15.19 | 19.32 | 82.78 | 58.70 | -28.69 | 96.69 | 10.83 | 3.31 | -74.1 | 0.36 | -9.57 | 9.07 | 12.95 |
| 2019 (6) | 12.10 | 27.1 | 5.27 | 66.25 | 3.88 | 19.43 | 6.04 | 45.89 | 4.57 | 48.38 | 6.72 | 28.24 | 3.94 | 27.51 | 0.79 | -13.19 | 10.57 | 33.63 | 82.32 | -7.76 | 87.24 | 13.82 | 12.79 | -45.31 | 0.40 | -8.53 | 8.03 | 12.46 |
| 2018 (5) | 9.52 | -22.35 | 3.17 | -45.44 | 3.25 | 2.14 | 4.14 | -31.0 | 3.08 | -33.91 | 5.24 | -35.47 | 3.09 | -32.83 | 0.91 | -1.09 | 7.91 | -18.87 | 89.25 | 5.0 | 76.65 | -20.86 | 23.39 | 635.12 | 0.44 | -22.13 | 7.14 | -3.25 |
| 2017 (4) | 12.26 | -5.4 | 5.81 | -2.35 | 3.18 | -0.93 | 6.00 | 3.81 | 4.66 | 4.02 | 8.12 | 8.56 | 4.60 | 8.49 | 0.92 | 3.37 | 9.75 | 1.67 | 85.00 | -9.21 | 96.85 | -5.91 | 3.18 | 0 | 0.56 | 0 | 7.38 | -8.32 |
| 2016 (3) | 12.96 | 24.86 | 5.95 | 76.04 | 3.21 | 2.23 | 5.78 | 52.11 | 4.48 | 52.9 | 7.48 | 48.12 | 4.24 | 40.4 | 0.89 | -1.11 | 9.59 | 28.38 | 93.62 | 9.91 | 102.93 | 15.48 | -2.93 | 0 | 0.00 | 0 | 8.05 | 4.14 |
| 2015 (2) | 10.38 | 58.72 | 3.38 | 482.76 | 3.14 | 15.4 | 3.80 | 158.5 | 2.93 | 179.05 | 5.05 | 140.48 | 3.02 | 105.44 | 0.90 | -11.76 | 7.47 | 59.62 | 85.18 | -3.03 | 89.13 | 124.63 | 10.87 | -82.02 | 0.00 | 0 | 7.73 | 18.02 |
| 2014 (1) | 6.54 | 0 | 0.58 | 0 | 2.72 | 6.27 | 1.47 | 0 | 1.05 | 0 | 2.10 | 0 | 1.47 | 0 | 1.02 | -0.97 | 4.68 | -28.55 | 87.84 | 0.68 | 39.68 | -38.58 | 60.43 | 70.75 | 0.00 | 0 | 6.55 | -1.65 |
