- 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) | 3.18 | 52.15 | -48.79 | -2.59 | 35.89 | -97.71 | -3.52 | -51.07 | -118.63 | -2.79 | -54.14 | -151.35 | -1.68 | -60.0 | -184.75 | -1.18 | -53.25 | -180.95 | 0.45 | 0.0 | 12.5 | -1.92 | -118.18 | -966.67 | 33.74 | 8.59 | 19.52 | 73.43 | -57.59 | -8.95 | 26.57 | 136.34 | 37.3 | 3.38 | 1.5 | -4.52 |
| 23Q3 (19) | 2.09 | -39.07 | -72.72 | -4.04 | -69.75 | -192.75 | -2.33 | -348.08 | -330.69 | -1.81 | -293.48 | -335.06 | -1.05 | -356.52 | -310.0 | -0.77 | -381.25 | -302.63 | 0.45 | 12.5 | -4.26 | -0.88 | -183.02 | -140.37 | 31.07 | 5.25 | -11.68 | 173.12 | -61.3 | 225.18 | -73.12 | 79.26 | -130.68 | 3.33 | -10.48 | 18.51 |
| 23Q2 (18) | 3.43 | 22.5 | -68.85 | -2.38 | 24.68 | -195.2 | -0.52 | 79.69 | -110.95 | -0.46 | 77.11 | -114.47 | -0.23 | 76.77 | -110.95 | -0.16 | 78.67 | -110.26 | 0.40 | 2.56 | -18.37 | 1.06 | 204.95 | -81.72 | 29.52 | 4.57 | -28.54 | 447.37 | 264.23 | 751.79 | -352.63 | -1444.86 | -842.71 | 3.72 | -3.12 | 30.53 |
| 23Q1 (17) | 2.80 | -54.91 | -79.18 | -3.16 | -141.22 | -166.53 | -2.56 | -59.01 | -136.21 | -2.01 | -81.08 | -135.2 | -0.99 | -67.8 | -129.91 | -0.75 | -78.57 | -130.49 | 0.39 | -2.5 | -9.3 | -1.01 | -461.11 | -112.24 | 28.23 | 0.0 | -4.37 | 122.83 | 52.3 | 83.38 | -22.83 | -217.93 | -169.78 | 3.84 | 8.47 | 2.95 |
| 22Q4 (16) | 6.21 | -18.93 | -61.4 | -1.31 | 5.07 | -113.38 | -1.61 | -259.41 | -114.99 | -1.11 | -244.16 | -113.09 | -0.59 | -218.0 | -109.82 | -0.42 | -210.53 | -109.91 | 0.40 | -14.89 | -20.0 | -0.18 | -108.26 | -101.53 | 28.23 | -19.76 | -29.85 | 80.65 | 158.31 | -11.6 | 19.35 | -91.88 | 120.65 | 3.54 | 25.98 | 34.09 |
| 22Q3 (15) | 7.66 | -30.43 | -45.83 | -1.38 | -155.2 | -115.65 | 1.01 | -78.74 | -89.45 | 0.77 | -75.79 | -88.82 | 0.50 | -76.19 | -89.9 | 0.38 | -75.64 | -89.14 | 0.47 | -4.08 | -7.84 | 2.18 | -62.41 | -79.34 | 35.18 | -14.84 | -19.77 | -138.30 | -363.32 | -249.99 | 238.30 | 401.9 | 2956.17 | 2.81 | -1.4 | -16.62 |
| 22Q2 (14) | 11.01 | -18.14 | -34.89 | 2.50 | -47.37 | -79.06 | 4.75 | -32.81 | -61.79 | 3.18 | -44.31 | -67.35 | 2.10 | -36.56 | -71.93 | 1.56 | -36.59 | -71.0 | 0.49 | 13.95 | -10.91 | 5.80 | -29.7 | -56.52 | 41.31 | 39.94 | 3.56 | 52.52 | -21.58 | -45.35 | 47.48 | 45.15 | 1116.87 | 2.85 | -23.59 | -15.93 |
| 22Q1 (13) | 13.45 | -16.41 | -26.74 | 4.75 | -51.48 | -63.46 | 7.07 | -34.17 | -49.28 | 5.71 | -32.67 | -46.98 | 3.31 | -44.93 | -55.15 | 2.46 | -41.98 | -52.69 | 0.43 | -14.0 | -10.42 | 8.25 | -29.67 | -45.22 | 29.52 | -26.64 | -24.19 | 66.98 | -26.58 | -28.25 | 32.71 | 272.9 | 380.77 | 3.73 | 41.29 | -9.47 |
| 21Q4 (12) | 16.09 | 13.79 | -36.35 | 9.79 | 11.0 | -53.14 | 10.74 | 12.23 | -49.53 | 8.48 | 23.08 | -48.2 | 6.01 | 21.41 | -55.42 | 4.24 | 21.14 | -52.36 | 0.50 | -1.96 | -7.41 | 11.73 | 11.18 | -47.59 | 40.24 | -8.23 | -11.5 | 91.23 | -1.06 | -7.05 | 8.77 | 12.5 | 374.61 | 2.64 | -21.66 | 12.82 |
| 21Q3 (11) | 14.14 | -16.38 | -41.08 | 8.82 | -26.13 | -55.36 | 9.57 | -23.01 | -52.72 | 6.89 | -29.26 | -56.64 | 4.95 | -33.82 | -62.47 | 3.50 | -34.94 | -55.86 | 0.51 | -7.27 | 2.0 | 10.55 | -20.91 | -51.04 | 43.85 | 9.93 | -26.23 | 92.20 | -4.05 | -5.54 | 7.80 | 99.84 | 226.71 | 3.37 | -0.59 | -43.27 |
| 21Q2 (10) | 16.91 | -7.9 | 1.74 | 11.94 | -8.15 | -2.53 | 12.43 | -10.83 | 3.33 | 9.74 | -9.56 | 6.56 | 7.48 | 1.36 | 2.75 | 5.38 | 3.46 | 27.19 | 0.55 | 14.58 | 19.57 | 13.34 | -11.42 | -1.26 | 39.89 | 2.44 | -47.28 | 96.10 | 2.94 | -5.66 | 3.90 | -42.65 | 309.23 | 3.39 | -17.72 | 0 |
| 21Q1 (9) | 18.36 | -27.37 | 72.39 | 13.00 | -37.77 | 144.82 | 13.94 | -34.49 | 120.92 | 10.77 | -34.21 | 120.25 | 7.38 | -45.25 | 120.96 | 5.20 | -41.57 | 166.67 | 0.48 | -11.11 | 26.32 | 15.06 | -32.71 | 76.76 | 38.94 | -14.36 | -47.14 | 93.35 | -4.89 | 11.19 | 6.80 | 268.12 | -57.59 | 4.12 | 76.07 | -21.67 |
| 20Q4 (8) | 25.28 | 5.33 | 235.28 | 20.89 | 5.72 | 556.92 | 21.28 | 5.14 | 631.27 | 16.37 | 3.02 | 735.2 | 13.48 | 2.2 | 594.85 | 8.90 | 12.23 | 687.61 | 0.54 | 8.0 | 3.85 | 22.38 | 3.85 | 406.33 | 45.47 | -23.5 | -47.23 | 98.15 | 0.55 | -10.64 | 1.85 | -22.56 | 118.79 | 2.34 | -60.61 | -25.71 |
| 20Q3 (7) | 24.00 | 44.4 | 429.8 | 19.76 | 61.31 | 3492.73 | 20.24 | 68.25 | 4206.38 | 15.89 | 73.85 | 7122.73 | 13.19 | 81.18 | 5634.78 | 7.93 | 87.47 | 3347.83 | 0.50 | 8.7 | -5.66 | 21.55 | 59.51 | 1010.82 | 59.44 | -21.44 | -38.6 | 97.61 | -4.17 | -14.59 | 2.39 | 227.98 | 112.53 | 5.94 | 0 | 82.77 |
| 20Q2 (6) | 16.62 | 56.06 | 121.01 | 12.25 | 130.7 | 273.48 | 12.03 | 90.65 | 226.02 | 9.14 | 86.91 | 271.54 | 7.28 | 117.96 | 178.93 | 4.23 | 116.92 | 193.75 | 0.46 | 21.05 | -13.21 | 13.51 | 58.57 | 162.33 | 75.66 | 2.72 | -21.44 | 101.86 | 21.33 | 14.34 | -1.86 | -111.62 | -117.09 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 10.65 | 41.25 | 24.56 | 5.31 | 66.98 | 16.45 | 6.31 | 116.84 | 15.99 | 4.89 | 149.49 | 15.33 | 3.34 | 72.16 | -29.68 | 1.95 | 72.57 | -19.09 | 0.38 | -26.92 | -28.3 | 8.52 | 92.76 | 23.3 | 73.66 | -14.52 | -27.54 | 83.96 | -23.56 | -0.05 | 16.04 | 263.1 | 0.27 | 5.26 | 66.98 | 36.98 |
| 19Q4 (4) | 7.54 | 66.45 | 0.0 | 3.18 | 478.18 | 0.0 | 2.91 | 519.15 | 0.0 | 1.96 | 790.91 | 0.0 | 1.94 | 743.48 | 0.0 | 1.13 | 391.3 | 0.0 | 0.52 | -1.89 | 0.0 | 4.42 | 127.84 | 0.0 | 86.17 | -10.99 | 0.0 | 109.84 | -3.89 | 0.0 | -9.84 | 48.36 | 0.0 | 3.15 | -3.08 | 0.0 |
| 19Q3 (3) | 4.53 | -39.76 | 0.0 | 0.55 | -83.23 | 0.0 | 0.47 | -87.26 | 0.0 | 0.22 | -91.06 | 0.0 | 0.23 | -91.19 | 0.0 | 0.23 | -84.03 | 0.0 | 0.53 | 0.0 | 0.0 | 1.94 | -62.33 | 0.0 | 96.81 | 0.52 | 0.0 | 114.29 | 28.28 | 0.0 | -19.05 | -274.6 | 0.0 | 3.25 | -21.31 | 0.0 |
| 19Q2 (2) | 7.52 | -12.05 | 0.0 | 3.28 | -28.07 | 0.0 | 3.69 | -32.17 | 0.0 | 2.46 | -41.98 | 0.0 | 2.61 | -45.05 | 0.0 | 1.44 | -40.25 | 0.0 | 0.53 | 0.0 | 0.0 | 5.15 | -25.47 | 0.0 | 96.31 | -5.26 | 0.0 | 89.09 | 6.06 | 0.0 | 10.91 | -31.82 | 0.0 | 4.13 | 7.55 | 0.0 |
| 19Q1 (1) | 8.55 | 0.0 | 0.0 | 4.56 | 0.0 | 0.0 | 5.44 | 0.0 | 0.0 | 4.24 | 0.0 | 0.0 | 4.75 | 0.0 | 0.0 | 2.41 | 0.0 | 0.0 | 0.53 | 0.0 | 0.0 | 6.91 | 0.0 | 0.0 | 101.66 | 0.0 | 0.0 | 84.00 | 0.0 | 0.0 | 16.00 | 0.0 | 0.0 | 3.84 | 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) | 2.86 | -70.61 | -3.05 | 0 | 1.41 | 22.96 | -2.28 | 0 | -1.80 | 0 | -3.95 | 0 | -2.84 | 0 | 1.68 | -7.18 | -0.73 | 0 | 33.74 | 19.52 | 134.10 | 224.23 | -34.10 | 0 | 0.00 | 0 | 3.56 | 10.9 |
| 2022 (9) | 9.73 | -40.31 | 1.25 | -88.45 | 1.14 | 18.88 | 3.01 | -74.03 | 2.28 | -74.41 | 5.54 | -79.01 | 4.18 | -77.47 | 1.81 | -12.98 | 4.20 | -66.61 | 28.23 | -29.85 | 41.36 | -55.69 | 58.64 | 782.16 | 0.02 | -41.86 | 3.21 | -4.18 |
| 2021 (8) | 16.30 | -19.11 | 10.82 | -30.73 | 0.96 | -26.85 | 11.59 | -27.61 | 8.91 | -28.09 | 26.39 | -26.76 | 18.55 | -17.37 | 2.08 | 15.56 | 12.58 | -28.03 | 40.24 | -11.5 | 93.35 | -4.3 | 6.65 | 170.47 | 0.04 | -31.16 | 3.35 | -25.88 |
| 2020 (7) | 20.15 | 185.82 | 15.62 | 436.77 | 1.32 | 11.83 | 16.01 | 406.65 | 12.39 | 450.67 | 36.03 | 275.31 | 22.45 | 327.62 | 1.80 | -14.69 | 17.48 | 277.54 | 45.47 | -47.23 | 97.54 | 5.69 | 2.46 | -68.83 | 0.05 | -38.16 | 4.52 | 25.56 |
| 2019 (6) | 7.05 | 46.57 | 2.91 | 127.34 | 1.18 | 30.88 | 3.16 | 106.54 | 2.25 | 134.38 | 9.60 | 82.16 | 5.25 | 82.29 | 2.11 | -14.57 | 4.63 | 71.48 | 86.17 | -27.36 | 92.29 | 9.89 | 7.89 | -51.67 | 0.09 | -23.68 | 3.60 | 21.21 |
| 2018 (5) | 4.81 | -33.47 | 1.28 | -62.46 | 0.90 | -1.52 | 1.53 | -55.26 | 0.96 | -62.06 | 5.27 | -61.76 | 2.88 | -54.14 | 2.47 | 7.86 | 2.70 | -41.43 | 118.63 | -5.56 | 83.99 | -15.76 | 16.31 | 5430.51 | 0.11 | 0 | 2.97 | -8.33 |
| 2017 (4) | 7.23 | 25.52 | 3.41 | 141.84 | 0.91 | -19.39 | 3.42 | 185.0 | 2.53 | 241.89 | 13.78 | 284.92 | 6.28 | 246.96 | 2.29 | 23.12 | 4.61 | 72.66 | 125.61 | -16.74 | 99.71 | -14.97 | 0.29 | 0 | 0.00 | 0 | 3.24 | -12.2 |
| 2016 (3) | 5.76 | 12.5 | 1.41 | 65.88 | 1.13 | -10.69 | 1.20 | 118.18 | 0.74 | 85.0 | 3.58 | 81.73 | 1.81 | 45.97 | 1.86 | 10.71 | 2.67 | 17.62 | 150.86 | -12.91 | 117.26 | -23.98 | -17.26 | 0 | 0.00 | 0 | 3.69 | 9.17 |
| 2015 (2) | 5.12 | 1247.37 | 0.85 | 0 | 1.27 | 23.51 | 0.55 | 0 | 0.40 | 0 | 1.97 | 0 | 1.24 | 0 | 1.68 | -6.15 | 2.27 | 0 | 173.23 | -20.07 | 154.26 | 51.87 | -54.26 | 0 | 0.00 | 0 | 3.38 | 32.03 |
| 2014 (1) | 0.38 | 0 | -3.10 | 0 | 1.03 | 29.52 | -3.05 | 0 | -3.02 | 0 | -16.69 | 0 | -4.67 | 0 | 1.79 | -7.25 | -1.51 | 0 | 216.74 | 6.75 | 101.57 | 0 | -1.57 | 0 | 0.00 | 0 | 2.56 | 1.99 |
