- 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) | 19.12 | 37.55 | -0.98 | -2.32 | -45.0 | -133.77 | 3.99 | 76.55 | 612.5 | 1.26 | -30.77 | 280.0 | 0.58 | -28.4 | 265.71 | 0.48 | -15.79 | 242.86 | 0.16 | 0.0 | 0.0 | 11.23 | 11.74 | 44.34 | 171.56 | -6.26 | -22.26 | -58.25 | 16.99 | -104.83 | 158.25 | -7.96 | 114.31 | 8.82 | -35.29 | -9.63 |
| 23Q3 (19) | 13.90 | 20.66 | -0.71 | -1.60 | 67.01 | -175.86 | 2.26 | 296.52 | -67.99 | 1.82 | 223.81 | -71.87 | 0.81 | 250.0 | -75.82 | 0.57 | 470.0 | -54.03 | 0.16 | 33.33 | 0.0 | 10.05 | 17.27 | -28.77 | 183.01 | -2.9 | -11.92 | -70.18 | -116.68 | -746.0 | 171.93 | 153.59 | 58.76 | 13.63 | 3.73 | 16.8 |
| 23Q2 (18) | 11.52 | -34.69 | -5.5 | -4.85 | -245.65 | -199.38 | -1.15 | -155.56 | -133.82 | -1.47 | -156.76 | -145.94 | -0.54 | -145.76 | -130.0 | 0.10 | -84.85 | -85.71 | 0.12 | -20.0 | -29.41 | 8.57 | -14.3 | -15.48 | 188.48 | -6.57 | -20.71 | 420.83 | 161.21 | 982.13 | -320.83 | -425.0 | -317.21 | 13.14 | -0.08 | 13.08 |
| 23Q1 (17) | 17.64 | -8.65 | 37.92 | 3.33 | -51.53 | 2661.54 | 2.07 | 269.64 | -58.43 | 2.59 | 470.0 | -37.59 | 1.18 | 437.14 | -47.79 | 0.66 | 371.43 | -18.52 | 0.15 | -6.25 | -6.25 | 10.00 | 28.53 | -16.74 | 201.73 | -8.59 | -16.71 | 161.11 | -86.64 | 6141.67 | -61.11 | 94.47 | -159.52 | 13.15 | 34.73 | 10.6 |
| 22Q4 (16) | 19.31 | 37.93 | 39.22 | 6.87 | 1284.48 | 440.94 | 0.56 | -92.07 | 3.7 | -0.70 | -110.82 | -158.82 | -0.35 | -110.45 | -153.03 | 0.14 | -88.71 | -61.11 | 0.16 | 0.0 | 0.0 | 7.78 | -44.86 | 3.87 | 220.68 | 6.21 | -13.24 | 1205.88 | 14637.58 | 407.74 | -1105.88 | -1121.18 | -704.28 | 9.76 | -16.37 | 22.46 |
| 22Q3 (15) | 14.00 | 14.85 | -2.3 | -0.58 | 64.2 | -122.39 | 7.06 | 107.65 | 204.31 | 6.47 | 102.19 | 203.76 | 3.35 | 86.11 | 252.63 | 1.24 | 77.14 | 181.82 | 0.16 | -5.88 | 23.08 | 14.11 | 39.15 | 33.49 | 207.78 | -12.59 | -14.2 | -8.29 | 82.61 | -107.49 | 108.29 | -26.68 | 1110.75 | 11.67 | 0.43 | -15.19 |
| 22Q2 (14) | 12.19 | -4.69 | -22.06 | -1.62 | -1146.15 | -136.0 | 3.40 | -31.73 | 378.87 | 3.20 | -22.89 | 566.67 | 1.80 | -20.35 | 682.61 | 0.70 | -13.58 | 191.67 | 0.17 | 6.25 | 13.33 | 10.14 | -15.57 | 23.36 | 237.71 | -1.86 | 3.15 | -47.71 | -1688.99 | -107.62 | 147.71 | 43.87 | 128.06 | 11.62 | -2.27 | 12.05 |
| 22Q1 (13) | 12.79 | -7.79 | -27.78 | -0.13 | -110.24 | -102.08 | 4.98 | 822.22 | 16.9 | 4.15 | 248.74 | 4.53 | 2.26 | 242.42 | 29.14 | 0.81 | 125.0 | 15.71 | 0.16 | 0.0 | 14.29 | 12.01 | 60.35 | -2.75 | 242.21 | -4.78 | 7.21 | -2.67 | -101.12 | -101.82 | 102.67 | 174.67 | 320.31 | 11.89 | 49.18 | -5.03 |
| 21Q4 (12) | 13.87 | -3.21 | -9.05 | 1.27 | -50.97 | -50.0 | 0.54 | -76.72 | 111.54 | 1.19 | -44.13 | 132.16 | 0.66 | -30.53 | 138.37 | 0.36 | -18.18 | 205.88 | 0.16 | 23.08 | 6.67 | 7.49 | -29.14 | 149.67 | 254.37 | 5.04 | 11.96 | 237.50 | 114.52 | 538.46 | -137.50 | -1183.33 | -189.19 | 7.97 | -42.08 | -45.34 |
| 21Q3 (11) | 14.33 | -8.38 | 8.97 | 2.59 | -42.44 | 0.78 | 2.32 | 226.76 | 134.34 | 2.13 | 343.75 | 23.12 | 0.95 | 313.04 | 55.74 | 0.44 | 83.33 | 18.92 | 0.13 | -13.33 | 18.18 | 10.57 | 28.59 | -3.56 | 242.16 | 5.08 | 12.51 | 110.71 | -82.32 | -58.75 | -10.71 | 97.96 | 93.43 | 13.76 | 32.69 | 18.62 |
| 21Q2 (10) | 15.64 | -11.69 | 94.29 | 4.50 | -28.0 | 128.96 | 0.71 | -83.33 | 104.08 | 0.48 | -87.91 | 103.42 | 0.23 | -86.86 | 106.59 | 0.24 | -65.71 | 126.09 | 0.15 | 7.14 | 87.5 | 8.22 | -33.44 | 304.48 | 230.46 | 2.01 | 0.75 | 626.32 | 327.22 | 601.91 | -526.32 | -1029.39 | -4987.22 | 10.37 | -17.17 | 0 |
| 21Q1 (9) | 17.71 | 16.13 | -3.91 | 6.25 | 146.06 | 34.99 | 4.26 | 191.03 | 60.15 | 3.97 | 207.3 | 61.38 | 1.75 | 201.74 | 75.0 | 0.70 | 305.88 | 29.63 | 0.14 | -6.67 | 0.0 | 12.35 | 311.67 | 17.06 | 225.92 | -0.56 | 14.07 | 146.60 | 370.65 | -16.23 | -46.60 | -130.23 | 37.86 | 12.52 | -14.13 | 0 |
| 20Q4 (8) | 15.25 | 15.97 | -24.69 | 2.54 | -1.17 | -72.42 | -4.68 | -572.73 | -189.14 | -3.70 | -313.87 | -172.55 | -1.72 | -381.97 | -165.15 | -0.34 | -191.89 | -130.63 | 0.15 | 36.36 | -11.76 | 3.00 | -72.63 | -73.4 | 227.19 | 5.56 | 13.78 | -54.17 | -120.18 | -130.8 | 154.17 | 194.49 | 303.17 | 14.58 | 25.69 | 33.64 |
| 20Q3 (7) | 13.15 | 63.35 | -31.15 | 2.57 | 116.54 | -63.8 | 0.99 | 105.68 | -83.16 | 1.73 | 112.34 | -65.81 | 0.61 | 117.48 | -75.89 | 0.37 | 140.22 | -64.42 | 0.11 | 37.5 | -31.25 | 10.96 | 372.64 | -15.5 | 215.23 | -5.91 | 10.69 | 268.42 | 200.82 | 121.91 | -163.16 | -1615.04 | -678.5 | 11.60 | 0 | -15.08 |
| 20Q2 (6) | 8.05 | -56.32 | -53.58 | -15.54 | -435.64 | -297.96 | -17.42 | -754.89 | -307.38 | -14.02 | -669.92 | -275.69 | -3.49 | -449.0 | -192.08 | -0.92 | -270.37 | -166.67 | 0.08 | -42.86 | -42.86 | -4.02 | -138.1 | -125.65 | 228.75 | 15.5 | -6.66 | 89.23 | -49.01 | -4.4 | 10.77 | 114.36 | 61.54 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 18.43 | -8.99 | 2.16 | 4.63 | -49.73 | 2.89 | 2.66 | -49.33 | -48.15 | 2.46 | -51.76 | -45.58 | 1.00 | -62.12 | -49.75 | 0.54 | -51.35 | -37.21 | 0.14 | -17.65 | 0.0 | 10.55 | -6.47 | -15.4 | 198.06 | -0.81 | -9.06 | 175.00 | -0.5 | 100.0 | -75.00 | 1.16 | -700.0 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 20.25 | 6.02 | 0.0 | 9.21 | 29.72 | 0.0 | 5.25 | -10.71 | 0.0 | 5.10 | 0.79 | 0.0 | 2.64 | 4.35 | 0.0 | 1.11 | 6.73 | 0.0 | 0.17 | 6.25 | 0.0 | 11.28 | -13.03 | 0.0 | 199.67 | 2.68 | 0.0 | 175.88 | 45.41 | 0.0 | -75.88 | -262.07 | 0.0 | 10.91 | -20.13 | 0.0 |
| 19Q3 (3) | 19.10 | 10.15 | 0.0 | 7.10 | -9.55 | 0.0 | 5.88 | -30.0 | 0.0 | 5.06 | -36.59 | 0.0 | 2.53 | -33.25 | 0.0 | 1.04 | -24.64 | 0.0 | 0.16 | 14.29 | 0.0 | 12.97 | -17.23 | 0.0 | 194.45 | -20.65 | 0.0 | 120.96 | 29.6 | 0.0 | -20.96 | -414.37 | 0.0 | 13.66 | 0.37 | 0.0 |
| 19Q2 (2) | 17.34 | -3.88 | 0.0 | 7.85 | 74.44 | 0.0 | 8.40 | 63.74 | 0.0 | 7.98 | 76.55 | 0.0 | 3.79 | 90.45 | 0.0 | 1.38 | 60.47 | 0.0 | 0.14 | 0.0 | 0.0 | 15.67 | 25.66 | 0.0 | 245.06 | 12.52 | 0.0 | 93.33 | 6.67 | 0.0 | 6.67 | -46.67 | 0.0 | 13.61 | -11.45 | 0.0 |
| 19Q1 (1) | 18.04 | 0.0 | 0.0 | 4.50 | 0.0 | 0.0 | 5.13 | 0.0 | 0.0 | 4.52 | 0.0 | 0.0 | 1.99 | 0.0 | 0.0 | 0.86 | 0.0 | 0.0 | 0.14 | 0.0 | 0.0 | 12.47 | 0.0 | 0.0 | 217.79 | 0.0 | 0.0 | 87.50 | 0.0 | 0.0 | 12.50 | 0.0 | 0.0 | 15.37 | 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) | 15.76 | 8.54 | -1.16 | 0 | 5.67 | 3.67 | 1.94 | -51.74 | 1.18 | -64.35 | 2.06 | -71.82 | 1.82 | -38.72 | 0.59 | -10.61 | 10.02 | -9.07 | 171.56 | -22.26 | -60.00 | 0 | 160.53 | 118.62 | 0.18 | 31.14 | 12.14 | 7.91 |
| 2022 (9) | 14.52 | -5.16 | 1.07 | -69.77 | 5.47 | -11.5 | 4.02 | 117.3 | 3.31 | 77.01 | 7.31 | 102.49 | 2.97 | 72.67 | 0.66 | 15.79 | 11.02 | 16.0 | 220.68 | -13.24 | 26.57 | -86.11 | 73.43 | 0 | 0.14 | -3.37 | 11.25 | 2.65 |
| 2021 (8) | 15.31 | 5.81 | 3.54 | 8750.0 | 6.18 | -13.83 | 1.85 | 0 | 1.87 | 0 | 3.61 | 0 | 1.72 | 0 | 0.57 | 21.28 | 9.50 | 62.12 | 254.37 | 11.96 | 191.24 | 0 | -91.24 | 0 | 0.14 | -10.05 | 10.96 | -29.61 |
| 2020 (7) | 14.47 | -23.07 | 0.04 | -99.46 | 7.17 | 44.13 | -3.40 | 0 | -2.40 | 0 | -3.53 | 0 | -0.35 | 0 | 0.47 | -24.19 | 5.86 | -54.89 | 227.19 | 13.78 | -1.03 | 0 | 101.03 | 0 | 0.16 | -1.77 | 15.57 | 17.95 |
| 2019 (6) | 18.81 | 17.34 | 7.34 | 115.88 | 4.97 | 0.69 | 6.11 | 76.08 | 5.63 | 102.52 | 10.70 | 128.63 | 4.40 | 84.1 | 0.62 | 3.33 | 12.99 | 29.0 | 199.67 | -8.57 | 120.24 | 22.95 | -20.24 | 0 | 0.16 | -14.35 | 13.20 | -15.82 |
| 2018 (5) | 16.03 | -14.82 | 3.40 | -38.18 | 4.94 | 10.36 | 3.47 | -38.91 | 2.78 | -46.85 | 4.68 | -40.31 | 2.39 | -36.6 | 0.60 | -4.76 | 10.07 | -9.93 | 218.39 | 46.87 | 97.79 | 0.93 | 2.21 | -29.02 | 0.19 | 0 | 15.68 | 0.45 |
| 2017 (4) | 18.82 | 0.16 | 5.50 | -11.58 | 4.47 | -2.35 | 5.68 | 0.35 | 5.23 | -10.75 | 7.84 | -18.25 | 3.77 | -20.46 | 0.63 | -16.0 | 11.18 | 1.73 | 148.70 | 19.36 | 96.89 | -11.77 | 3.11 | 0 | 0.00 | 0 | 15.61 | -3.22 |
| 2016 (3) | 18.79 | 2.18 | 6.22 | 3.15 | 4.58 | 19.66 | 5.66 | -16.89 | 5.86 | 5.02 | 9.59 | -3.03 | 4.74 | -5.39 | 0.75 | -9.64 | 10.99 | -2.48 | 124.58 | 9.38 | 109.81 | 24.11 | -9.81 | 0 | 0.00 | 0 | 16.13 | 3.93 |
| 2015 (2) | 18.39 | 29.6 | 6.03 | 0 | 3.83 | 6.73 | 6.81 | -56.93 | 5.58 | -64.41 | 9.89 | -64.92 | 5.01 | -63.05 | 0.83 | -1.19 | 11.27 | -43.99 | 113.90 | 0.61 | 88.48 | 0 | 11.52 | -88.46 | 0.00 | 0 | 15.52 | -6.84 |
| 2014 (1) | 14.19 | 0 | 0.00 | 0 | 3.59 | -1.98 | 15.81 | 0 | 15.68 | 0 | 28.19 | 0 | 13.56 | 0 | 0.84 | -4.55 | 20.12 | 455.8 | 113.21 | -2.41 | 0.00 | 0 | 99.89 | 0 | 0.00 | 0 | 16.66 | -4.14 |
