- 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) | 10.18 | -31.26 | -68.87 | 6.80 | -42.03 | -77.33 | -11.79 | -207.77 | -177.92 | -9.03 | -199.45 | -174.88 | -1.12 | -192.56 | -152.09 | -0.99 | -192.52 | -152.94 | 0.11 | -8.33 | -26.67 | -6.80 | -143.84 | -137.1 | 12.54 | 7.09 | -17.99 | -57.58 | -153.77 | -129.06 | 157.58 | 2328.57 | 260.54 | 4.46 | -15.37 | 10.12 |
| 23Q3 (19) | 14.81 | -37.64 | -59.84 | 11.73 | -43.44 | -66.19 | 10.94 | -1.35 | -46.37 | 9.08 | 17.46 | -43.36 | 1.21 | 32.97 | -63.33 | 1.07 | 33.75 | -60.07 | 0.12 | 20.0 | -29.41 | 15.51 | -3.24 | -33.18 | 11.71 | -28.25 | -28.64 | 107.07 | -42.73 | -37.0 | -7.07 | 91.87 | 89.89 | 5.27 | -8.03 | 61.66 |
| 23Q2 (18) | 23.75 | 19.17 | -31.71 | 20.74 | 28.58 | -35.15 | 11.09 | 620.66 | -55.85 | 7.73 | 583.12 | -60.72 | 0.91 | 635.29 | -71.11 | 0.80 | 671.43 | -68.63 | 0.10 | 11.11 | -23.08 | 16.03 | 434.33 | -43.66 | 16.32 | 18.6 | -47.51 | 186.96 | 124.39 | 46.88 | -86.96 | -110.0 | -218.66 | 5.73 | -9.76 | 43.61 |
| 23Q1 (17) | 19.93 | -39.05 | -23.32 | 16.13 | -46.22 | -25.94 | -2.13 | -114.08 | -116.68 | -1.60 | -113.27 | -114.84 | -0.17 | -107.91 | -111.49 | -0.14 | -107.49 | -111.29 | 0.09 | -40.0 | -18.18 | 3.00 | -83.63 | -81.74 | 13.76 | -10.01 | -22.65 | -766.67 | -486.91 | -549.14 | 869.70 | 986.06 | 1330.19 | 6.35 | 56.79 | 32.57 |
| 22Q4 (16) | 32.70 | -11.33 | -25.05 | 29.99 | -13.55 | -26.64 | 15.13 | -25.83 | -61.66 | 12.06 | -24.77 | -62.7 | 2.15 | -34.85 | -65.15 | 1.87 | -30.22 | -62.07 | 0.15 | -11.76 | 0.0 | 18.33 | -21.03 | -56.63 | 15.29 | -6.83 | -32.76 | 198.15 | 16.58 | 91.33 | -98.15 | -40.29 | -2653.07 | 4.05 | 24.23 | 21.62 |
| 22Q3 (15) | 36.88 | 6.04 | 7.43 | 34.69 | 8.47 | 9.64 | 20.40 | -18.79 | -40.61 | 16.03 | -18.55 | -42.0 | 3.30 | 4.76 | -26.83 | 2.68 | 5.1 | -25.14 | 0.17 | 30.77 | 30.77 | 23.21 | -18.42 | -38.47 | 16.41 | -47.22 | -42.52 | 169.97 | 33.53 | 84.58 | -69.97 | -156.39 | -983.44 | 3.26 | -18.3 | -16.41 |
| 22Q2 (14) | 34.78 | 33.82 | -3.01 | 31.98 | 46.83 | -3.82 | 25.12 | 96.71 | -45.33 | 19.68 | 82.56 | -50.19 | 3.15 | 112.84 | -51.98 | 2.55 | 105.65 | -49.8 | 0.13 | 18.18 | 0.0 | 28.45 | 73.16 | -42.61 | 31.09 | 74.76 | 24.16 | 127.29 | -25.43 | 75.78 | -27.29 | 61.4 | -198.59 | 3.99 | -16.7 | 14.0 |
| 22Q1 (13) | 25.99 | -40.43 | -25.1 | 21.78 | -46.72 | -29.45 | 12.77 | -67.64 | -64.64 | 10.78 | -66.66 | -64.02 | 1.48 | -76.01 | -66.44 | 1.24 | -74.85 | -61.85 | 0.11 | -26.67 | 0.0 | 16.43 | -61.12 | -59.62 | 17.79 | -21.77 | -49.21 | 170.70 | 64.82 | 99.64 | -70.70 | -1882.94 | -587.58 | 4.79 | 43.84 | -29.77 |
| 21Q4 (12) | 43.63 | 27.09 | 45.19 | 40.88 | 29.2 | 52.54 | 39.46 | 14.88 | 6.88 | 32.33 | 16.97 | 2.12 | 6.17 | 36.81 | 29.62 | 4.93 | 37.71 | 46.29 | 0.15 | 15.38 | 36.36 | 42.26 | 12.04 | 0.55 | 22.74 | -20.35 | -42.31 | 103.57 | 12.47 | 42.74 | -3.57 | -145.02 | -112.99 | 3.33 | -14.62 | -46.46 |
| 21Q3 (11) | 34.33 | -4.27 | 159.68 | 31.64 | -4.84 | 229.58 | 34.35 | -25.24 | 112.3 | 27.64 | -30.04 | 89.06 | 4.51 | -31.25 | 143.78 | 3.58 | -29.53 | 179.69 | 0.13 | 0.0 | 62.5 | 37.72 | -23.91 | 64.57 | 28.55 | 14.02 | -39.31 | 92.08 | 27.16 | 54.93 | 7.92 | -71.39 | -80.48 | 3.90 | 11.43 | -25.14 |
| 21Q2 (10) | 35.86 | 3.34 | 139.55 | 33.25 | 7.71 | 192.44 | 45.95 | 27.25 | 141.84 | 39.51 | 31.88 | 142.54 | 6.56 | 48.75 | 192.86 | 5.08 | 56.31 | 243.24 | 0.13 | 18.18 | 44.44 | 49.57 | 21.82 | 94.01 | 25.04 | -28.52 | -52.19 | 72.41 | -15.31 | 21.32 | 27.68 | 90.9 | -31.33 | 3.50 | -48.68 | 0 |
| 21Q1 (9) | 34.70 | 15.47 | 93.21 | 30.87 | 15.19 | 123.7 | 36.11 | -2.19 | 162.81 | 29.96 | -5.37 | 168.94 | 4.41 | -7.35 | 202.05 | 3.25 | -3.56 | 238.54 | 0.11 | 0.0 | 37.5 | 40.69 | -3.19 | 96.57 | 35.03 | -11.14 | -43.11 | 85.50 | 17.84 | -14.5 | 14.50 | -47.17 | 2724.36 | 6.82 | 9.65 | 0 |
| 20Q4 (8) | 30.05 | 127.31 | 43.44 | 26.80 | 179.17 | 52.71 | 36.92 | 128.18 | 94.32 | 31.66 | 116.55 | 102.04 | 4.76 | 157.3 | 75.65 | 3.37 | 163.28 | 99.41 | 0.11 | 37.5 | 10.0 | 42.03 | 83.38 | 73.03 | 39.42 | -16.2 | -39.75 | 72.56 | 22.08 | -21.3 | 27.44 | -32.35 | 265.56 | 6.22 | 19.39 | 0 |
| 20Q3 (7) | 13.22 | -11.69 | -11.16 | 9.60 | -15.57 | -14.51 | 16.18 | -14.84 | 11.28 | 14.62 | -10.25 | 16.87 | 1.85 | -17.41 | -11.06 | 1.28 | -13.51 | -1.54 | 0.08 | -11.11 | -20.0 | 22.92 | -10.29 | 14.26 | 47.04 | -10.18 | -32.9 | 59.43 | -0.43 | -23.22 | 40.57 | 0.63 | 76.28 | 5.21 | 0 | -16.1 |
| 20Q2 (6) | 14.97 | -16.65 | 2.18 | 11.37 | -17.61 | 2.25 | 19.00 | 38.28 | 27.43 | 16.29 | 46.23 | 34.41 | 2.24 | 53.42 | 7.69 | 1.48 | 54.17 | 13.85 | 0.09 | 12.5 | -10.0 | 25.55 | 23.43 | 26.3 | 52.37 | -14.96 | -24.15 | 59.69 | -40.31 | -19.88 | 40.31 | 7396.12 | 58.09 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 17.96 | -14.27 | 73.53 | 13.80 | -21.37 | 98.28 | 13.74 | -27.68 | 45.4 | 11.14 | -28.91 | 39.25 | 1.46 | -46.13 | 4.29 | 0.96 | -43.2 | 5.49 | 0.08 | -20.0 | -27.27 | 20.70 | -14.78 | 42.17 | 61.58 | -5.88 | -9.83 | 100.00 | 8.47 | 36.13 | -0.55 | -107.36 | -102.08 | 0.00 | 0 | -100.0 |
| 19Q4 (4) | 20.95 | 40.79 | 0.0 | 17.55 | 56.28 | 0.0 | 19.00 | 30.67 | 0.0 | 15.67 | 25.26 | 0.0 | 2.71 | 30.29 | 0.0 | 1.69 | 30.0 | 0.0 | 0.10 | 0.0 | 0.0 | 24.29 | 21.09 | 0.0 | 65.43 | -6.66 | 0.0 | 92.19 | 19.1 | 0.0 | 7.51 | -67.38 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 14.88 | 1.57 | 0.0 | 11.23 | 0.99 | 0.0 | 14.54 | -2.48 | 0.0 | 12.51 | 3.22 | 0.0 | 2.08 | 0.0 | 0.0 | 1.30 | 0.0 | 0.0 | 0.10 | 0.0 | 0.0 | 20.06 | -0.84 | 0.0 | 70.10 | 1.54 | 0.0 | 77.41 | 3.9 | 0.0 | 23.01 | -9.75 | 0.0 | 6.21 | 9.52 | 0.0 |
| 19Q2 (2) | 14.65 | 41.55 | 0.0 | 11.12 | 59.77 | 0.0 | 14.91 | 57.78 | 0.0 | 12.12 | 51.5 | 0.0 | 2.08 | 48.57 | 0.0 | 1.30 | 42.86 | 0.0 | 0.10 | -9.09 | 0.0 | 20.23 | 38.94 | 0.0 | 69.04 | 1.1 | 0.0 | 74.50 | 1.42 | 0.0 | 25.50 | -3.94 | 0.0 | 5.67 | 3.85 | 0.0 |
| 19Q1 (1) | 10.35 | 0.0 | 0.0 | 6.96 | 0.0 | 0.0 | 9.45 | 0.0 | 0.0 | 8.00 | 0.0 | 0.0 | 1.40 | 0.0 | 0.0 | 0.91 | 0.0 | 0.0 | 0.11 | 0.0 | 0.0 | 14.56 | 0.0 | 0.0 | 68.29 | 0.0 | 0.0 | 73.46 | 0.0 | 0.0 | 26.54 | 0.0 | 0.0 | 5.46 | 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) | 17.06 | -48.21 | 13.75 | -54.2 | 4.75 | 52.83 | 2.25 | -87.85 | 1.73 | -88.27 | 0.84 | -91.38 | 0.79 | -90.4 | 0.43 | -23.21 | 7.15 | -67.1 | 12.54 | -17.99 | 611.92 | 277.49 | -511.92 | 0 | 0.00 | 0 | 5.44 | 37.03 |
| 2022 (9) | 32.94 | -12.42 | 30.02 | -13.49 | 3.11 | -4.72 | 18.52 | -52.61 | 14.75 | -54.5 | 9.75 | -56.67 | 8.23 | -52.7 | 0.56 | 5.66 | 21.73 | -48.97 | 15.29 | -32.76 | 162.10 | 82.57 | -62.10 | 0 | 0.00 | 0 | 3.97 | -5.25 |
| 2021 (8) | 37.61 | 89.95 | 34.70 | 114.59 | 3.26 | -40.94 | 39.08 | 73.38 | 32.42 | 67.55 | 22.50 | 127.73 | 17.40 | 158.54 | 0.53 | 55.88 | 42.58 | 47.85 | 22.74 | -42.31 | 88.79 | 23.75 | 11.21 | -60.32 | 0.00 | 0 | 4.19 | -33.91 |
| 2020 (7) | 19.80 | 29.84 | 16.17 | 37.5 | 5.52 | 23.36 | 22.54 | 55.45 | 19.35 | 60.05 | 9.88 | 19.32 | 6.73 | 26.27 | 0.34 | -19.05 | 28.80 | 45.38 | 39.42 | -39.75 | 71.75 | -11.44 | 28.25 | 49.6 | 0.00 | 0 | 6.34 | 13.42 |
| 2019 (6) | 15.25 | 241.93 | 11.76 | 940.71 | 4.48 | -2.27 | 14.50 | 191.75 | 12.09 | 168.67 | 8.28 | 180.68 | 5.33 | 155.02 | 0.42 | 0.0 | 19.81 | 94.6 | 65.43 | 4.86 | 81.02 | 256.69 | 18.88 | -75.57 | 0.00 | 0 | 5.59 | 11.35 |
| 2018 (5) | 4.46 | -59.01 | 1.13 | -84.63 | 4.58 | 1.15 | 4.97 | -51.46 | 4.50 | -49.04 | 2.95 | -49.57 | 2.09 | -48.52 | 0.42 | -2.33 | 10.18 | -34.02 | 62.40 | 21.07 | 22.71 | -68.37 | 77.29 | 174.06 | 0.00 | 0 | 5.02 | -7.55 |
| 2017 (4) | 10.88 | -17.76 | 7.35 | -23.68 | 4.53 | 47.44 | 10.24 | -23.87 | 8.83 | -22.41 | 5.85 | -20.08 | 4.06 | -26.45 | 0.43 | -8.51 | 15.43 | -8.91 | 51.54 | -5.38 | 71.80 | 0.24 | 28.20 | -0.61 | 0.00 | 0 | 5.43 | -7.65 |
| 2016 (3) | 13.23 | 12.69 | 9.63 | 21.28 | 3.07 | 69.48 | 13.45 | 9.44 | 11.38 | 9.42 | 7.32 | 21.39 | 5.52 | 3.95 | 0.47 | -7.84 | 16.94 | 19.55 | 54.47 | 233.35 | 71.63 | 10.74 | 28.37 | -20.03 | 0.00 | 0 | 5.88 | -4.08 |
| 2015 (2) | 11.74 | 11.17 | 7.94 | 8.32 | 1.81 | 12.08 | 12.29 | 17.16 | 10.40 | 15.81 | 6.03 | 10.04 | 5.31 | 7.49 | 0.51 | -7.27 | 14.17 | 16.82 | 16.34 | 43.33 | 64.68 | -7.42 | 35.48 | 17.73 | 0.00 | 0 | 6.13 | 15.44 |
| 2014 (1) | 10.56 | 0 | 7.33 | 0 | 1.62 | -2.24 | 10.49 | 0 | 8.98 | 0 | 5.48 | 0 | 4.94 | 0 | 0.55 | -1.79 | 12.13 | 0.25 | 11.40 | 9.09 | 69.86 | 51.75 | 30.14 | -44.15 | 0.00 | 0 | 5.31 | 7.49 |
