- 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) | 18.45 | 13.12 | 27.33 | -1.92 | -178.69 | 10.28 | 1.37 | -76.3 | 148.75 | -1.25 | -121.26 | 56.29 | -0.46 | -116.55 | 50.0 | 0.22 | -80.0 | 175.0 | 0.10 | -23.08 | 25.0 | 13.02 | -8.95 | 26.04 | 257.19 | -0.21 | -10.6 | -133.33 | -422.81 | -269.7 | 222.22 | 278.6 | 937.04 | 20.84 | 30.66 | -7.17 |
| 23Q3 (19) | 16.31 | 49.77 | 52.86 | 2.44 | 167.97 | 173.27 | 5.78 | 191.92 | 106.43 | 5.88 | 123.57 | 109.25 | 2.78 | 178.0 | 137.61 | 1.10 | 83.33 | 86.44 | 0.13 | 30.0 | 30.0 | 14.30 | 15.51 | 14.4 | 257.74 | -4.8 | -9.89 | 41.30 | 122.53 | 133.79 | 58.70 | -79.88 | -73.59 | 15.95 | -11.24 | -25.54 |
| 23Q2 (18) | 10.89 | -23.26 | 2.83 | -3.59 | -1989.47 | -4587.5 | 1.98 | -81.68 | -83.21 | 2.63 | -18.83 | -78.55 | 1.00 | -20.0 | -82.61 | 0.60 | -6.25 | -63.86 | 0.10 | 0.0 | -9.09 | 12.38 | -40.51 | -40.48 | 270.73 | -2.82 | -12.78 | -183.33 | -12383.33 | -15316.67 | 291.67 | 200.64 | 195.22 | 17.97 | -20.13 | -3.34 |
| 23Q1 (17) | 14.19 | -2.07 | 35.79 | 0.19 | 108.88 | 104.47 | 10.81 | 484.7 | 119.72 | 3.24 | 213.29 | 128.17 | 1.25 | 235.87 | 111.86 | 0.64 | 700.0 | 60.0 | 0.10 | 25.0 | 0.0 | 20.81 | 101.45 | 43.32 | 278.58 | -3.16 | -15.83 | 1.49 | -98.1 | 101.72 | 97.01 | 352.74 | -48.03 | 22.50 | 0.22 | 5.39 |
| 22Q4 (16) | 14.49 | 35.8 | 1441.49 | -2.14 | 35.74 | 89.4 | -2.81 | -200.36 | -220.6 | -2.86 | -201.78 | -188.0 | -0.92 | -178.63 | -157.86 | 0.08 | -86.44 | -86.67 | 0.08 | -20.0 | -20.0 | 10.33 | -17.36 | -8.5 | 287.68 | 0.58 | -13.75 | 78.57 | 164.29 | 109.14 | 21.43 | -90.36 | -97.77 | 22.45 | 4.81 | 9.3 |
| 22Q3 (15) | 10.67 | 0.76 | 1.43 | -3.33 | -4262.5 | -17.25 | 2.80 | -76.25 | 212.45 | 2.81 | -77.08 | 212.85 | 1.17 | -79.65 | 175.48 | 0.59 | -64.46 | 5800.0 | 0.10 | -9.09 | -16.67 | 12.50 | -39.9 | 115.52 | 286.03 | -7.85 | -33.15 | -122.22 | -10244.44 | -204.76 | 222.22 | 124.93 | 1433.33 | 21.42 | 15.22 | 20.2 |
| 22Q2 (14) | 10.59 | 1.34 | -27.96 | 0.08 | 101.88 | -96.48 | 11.79 | 139.63 | -38.34 | 12.26 | 763.38 | -30.1 | 5.75 | 874.58 | -55.77 | 1.66 | 315.0 | -38.52 | 0.11 | 10.0 | -21.43 | 20.80 | 43.25 | -20.7 | 310.41 | -6.22 | -24.63 | 1.20 | 101.39 | -89.85 | 98.80 | -47.07 | 12.11 | 18.59 | -12.93 | 17.07 |
| 22Q1 (13) | 10.45 | 1011.7 | 27.59 | -4.25 | 78.95 | 40.06 | 4.92 | 111.16 | 138.74 | 1.42 | -56.31 | 111.18 | 0.59 | -62.89 | 108.49 | 0.40 | -33.33 | 144.94 | 0.10 | 0.0 | 11.11 | 14.52 | 28.61 | 669.41 | 330.99 | -0.76 | -30.29 | -86.67 | 89.92 | -254.76 | 186.67 | -80.56 | 324.24 | 21.35 | 3.94 | 2.55 |
| 21Q4 (12) | 0.94 | -91.06 | -79.06 | -20.19 | -610.92 | -30.43 | 2.33 | 193.57 | -83.83 | 3.25 | 230.52 | -71.69 | 1.59 | 202.58 | -75.2 | 0.60 | 5900.0 | -54.89 | 0.10 | -16.67 | 11.11 | 11.29 | 94.66 | -53.21 | 333.54 | -22.04 | -31.49 | -860.00 | -837.14 | -702.02 | 960.00 | 5860.0 | 363.26 | 20.54 | 15.26 | 5.28 |
| 21Q3 (11) | 10.52 | -28.44 | 169.74 | -2.84 | -225.11 | 81.9 | -2.49 | -113.02 | 83.66 | -2.49 | -114.2 | 83.66 | -1.55 | -111.92 | 75.74 | 0.01 | -99.63 | 101.35 | 0.12 | -14.29 | 71.43 | 5.80 | -77.89 | 604.35 | 427.84 | 3.89 | -16.42 | 116.67 | 882.46 | 13.24 | -16.67 | -118.91 | -450.0 | 17.82 | 12.22 | -28.12 |
| 21Q2 (10) | 14.70 | 79.49 | 181.07 | 2.27 | 132.02 | 121.35 | 19.12 | 250.55 | 255.57 | 17.54 | 238.11 | 242.72 | 13.00 | 287.05 | 317.76 | 2.70 | 403.37 | 565.52 | 0.14 | 55.56 | 75.0 | 26.23 | 1128.63 | 4271.67 | 411.84 | -13.26 | -15.19 | 11.88 | -78.79 | -86.33 | 88.12 | 100.28 | 571.95 | 15.88 | -23.73 | 0 |
| 21Q1 (9) | 8.19 | 82.41 | 56.0 | -7.09 | 54.2 | 49.18 | -12.70 | -188.13 | 18.69 | -12.70 | -210.63 | 18.69 | -6.95 | -208.42 | 12.8 | -0.89 | -166.92 | -43.55 | 0.09 | 0.0 | 50.0 | -2.55 | -110.57 | -1162.5 | 474.78 | -2.48 | -21.74 | 56.00 | 152.22 | -37.36 | 44.00 | -78.77 | 314.86 | 20.82 | 6.71 | 0 |
| 20Q4 (8) | 4.49 | 15.13 | -38.24 | -15.48 | 1.34 | -43.47 | 14.41 | 194.55 | 214.73 | 11.48 | 175.33 | 191.99 | 6.41 | 200.31 | 161.63 | 1.33 | 279.73 | 251.14 | 0.09 | 28.57 | -10.0 | 24.13 | 2198.26 | 917.97 | 486.83 | -4.9 | -39.43 | -107.23 | -204.08 | -224.08 | 207.23 | 6938.55 | 1425.96 | 19.51 | -21.3 | -1.46 |
| 20Q3 (7) | 3.90 | -25.43 | -7.8 | -15.69 | -47.6 | -90.64 | -15.24 | -24.0 | -475.09 | -15.24 | -24.0 | -493.0 | -6.39 | -7.04 | -210.19 | -0.74 | -27.59 | -562.5 | 0.07 | -12.5 | -30.0 | -1.15 | -291.67 | -114.74 | 511.90 | 5.41 | -30.18 | 103.03 | 18.58 | -66.28 | -3.03 | -123.11 | 98.53 | 24.79 | 0 | 21.1 |
| 20Q2 (6) | 5.23 | -0.38 | -45.69 | -10.63 | 23.8 | -128.6 | -12.29 | 21.32 | -70.46 | -12.29 | 21.32 | -70.22 | -5.97 | 25.09 | -12.01 | -0.58 | 6.45 | -123.08 | 0.08 | 33.33 | -11.11 | 0.60 | 150.0 | -83.78 | 485.61 | -19.96 | -35.42 | 86.89 | -2.81 | 34.82 | 13.11 | 23.65 | -63.11 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 5.25 | -27.79 | -61.11 | -13.95 | -29.29 | -3068.09 | -15.62 | -24.36 | -229.63 | -15.62 | -25.16 | -374.52 | -7.97 | 23.37 | -307.01 | -0.62 | 29.55 | -166.67 | 0.06 | -40.0 | -33.33 | 0.24 | 108.14 | -99.01 | 606.70 | -24.52 | -12.66 | 89.39 | 3.44 | 1926.26 | 10.61 | -21.9 | -88.9 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 7.27 | 71.87 | 0.0 | -10.79 | -31.11 | 0.0 | -12.56 | -373.96 | 0.0 | -12.48 | -385.6 | 0.0 | -10.40 | -404.85 | 0.0 | -0.88 | -650.0 | 0.0 | 0.10 | 0.0 | 0.0 | -2.95 | -137.82 | 0.0 | 803.77 | 9.62 | 0.0 | 86.42 | -71.72 | 0.0 | 13.58 | 106.61 | 0.0 | 19.80 | -3.27 | 0.0 |
| 19Q3 (3) | 4.23 | -56.07 | 0.0 | -8.23 | -76.99 | 0.0 | -2.65 | 63.25 | 0.0 | -2.57 | 64.4 | 0.0 | -2.06 | 61.35 | 0.0 | 0.16 | 161.54 | 0.0 | 0.10 | 11.11 | 0.0 | 7.80 | 110.81 | 0.0 | 733.20 | -2.49 | 0.0 | 305.56 | 374.14 | 0.0 | -205.56 | -678.12 | 0.0 | 20.47 | -4.03 | 0.0 |
| 19Q2 (2) | 9.63 | -28.67 | 0.0 | -4.65 | -1089.36 | 0.0 | -7.21 | -159.83 | 0.0 | -7.22 | -226.89 | 0.0 | -5.33 | -238.44 | 0.0 | -0.26 | -127.96 | 0.0 | 0.09 | 0.0 | 0.0 | 3.70 | -84.77 | 0.0 | 751.90 | 8.24 | 0.0 | 64.44 | 1360.74 | 0.0 | 35.56 | -62.8 | 0.0 | 21.33 | -8.81 | 0.0 |
| 19Q1 (1) | 13.50 | 0.0 | 0.0 | 0.47 | 0.0 | 0.0 | 12.05 | 0.0 | 0.0 | 5.69 | 0.0 | 0.0 | 3.85 | 0.0 | 0.0 | 0.93 | 0.0 | 0.0 | 0.09 | 0.0 | 0.0 | 24.29 | 0.0 | 0.0 | 694.64 | 0.0 | 0.0 | 4.41 | 0.0 | 0.0 | 95.59 | 0.0 | 0.0 | 23.39 | 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) | 15.05 | 32.25 | -0.52 | 0 | 6.17 | -5.36 | 5.02 | 6.58 | 2.84 | -28.46 | 4.58 | -29.21 | 2.57 | -6.55 | 0.43 | 7.5 | 15.05 | 1.01 | 257.19 | -10.6 | -10.53 | 0 | 110.53 | -26.11 | 0.00 | 0 | 19.09 | -8.27 |
| 2022 (9) | 11.38 | 25.19 | -2.35 | 0 | 6.52 | 24.45 | 4.71 | 60.75 | 3.97 | 49.25 | 6.47 | 11.17 | 2.75 | 19.05 | 0.40 | -9.09 | 14.90 | 30.13 | 287.68 | -13.75 | -49.57 | 0 | 149.57 | -51.71 | 0.00 | 0 | 20.81 | 12.49 |
| 2021 (8) | 9.09 | 92.99 | -6.18 | 0 | 5.24 | -28.81 | 2.93 | 0 | 2.66 | 0 | 5.82 | 0 | 2.31 | 0 | 0.44 | 46.67 | 11.45 | 60.14 | 333.54 | -31.49 | -209.76 | 0 | 309.76 | 0 | 0.00 | 0 | 18.50 | -21.71 |
| 2020 (7) | 4.71 | -44.26 | -13.95 | 0 | 7.36 | 32.19 | -5.71 | 0 | -6.58 | 0 | -14.16 | 0 | -0.67 | 0 | 0.30 | -25.0 | 7.15 | -7.02 | 486.83 | -39.43 | 244.55 | 21.46 | -144.55 | 0 | 0.00 | 0 | 23.63 | 11.62 |
| 2019 (6) | 8.45 | 50.36 | -6.04 | 0 | 5.57 | 447.76 | -3.02 | 0 | -4.42 | 0 | -14.54 | 0 | -0.11 | 0 | 0.40 | -6.98 | 7.69 | 0 | 803.77 | 26.72 | 201.33 | 35.86 | -100.00 | 0 | 0.00 | 0 | 21.17 | 2.77 |
| 2018 (5) | 5.62 | -27.67 | -10.02 | 0 | 1.02 | 29.12 | -6.76 | 0 | -6.71 | 0 | -18.60 | 0 | -1.25 | 0 | 0.43 | -14.0 | -0.98 | 0 | 634.29 | 35.99 | 148.19 | 0 | -48.19 | 0 | 0.00 | 0 | 20.60 | 18.8 |
| 2017 (4) | 7.77 | 50.29 | -5.83 | 0 | 0.79 | 31.54 | 3.26 | 0 | 2.15 | 0 | 6.12 | 0 | 2.79 | 0 | 0.50 | -12.28 | 8.21 | 0 | 466.42 | -1.5 | -179.31 | 0 | 279.31 | 0 | 0.00 | 0 | 17.34 | 15.68 |
| 2016 (3) | 5.17 | 223.12 | -7.11 | 0 | 0.60 | 16.09 | -4.70 | 0 | -6.05 | 0 | -18.04 | 0 | -1.78 | 0 | 0.57 | -3.39 | -0.60 | 0 | 473.50 | 24.59 | 151.77 | -2.66 | -51.06 | 0 | 0.00 | 0 | 14.99 | 7.69 |
| 2015 (2) | 1.60 | 290.24 | -10.60 | 0 | 0.52 | -28.72 | -6.80 | 0 | -8.73 | 0 | -21.76 | 0 | -3.80 | 0 | 0.59 | -16.9 | -3.48 | 0 | 380.06 | 40.11 | 155.92 | 0 | -55.92 | 0 | 0.00 | 0 | 13.92 | 3.88 |
| 2014 (1) | 0.41 | 0 | -10.66 | 0 | 0.72 | -35.91 | 0.74 | 0 | -0.18 | 0 | -0.50 | 0 | 0.84 | 0 | 0.71 | -14.46 | 3.10 | 0 | 271.26 | -13.84 | -1415.38 | 0 | 1515.38 | 0 | 0.00 | 0 | 13.40 | -1.11 |
