- 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) | 18.47 | -1.23 | -14.69 | -2.34 | -314.68 | 58.44 | 0.84 | -79.26 | 112.19 | -1.11 | -170.25 | 79.33 | -0.39 | -152.7 | 81.69 | 0.17 | -67.92 | 131.48 | 0.12 | -29.41 | -20.0 | 9.18 | -10.7 | 3061.29 | 184.81 | 2.3 | 9.41 | -266.67 | -1095.56 | -425.11 | 366.67 | 400.81 | 1939.58 | 25.71 | 29.65 | -15.76 |
| 23Q3 (19) | 18.70 | 12.52 | -8.82 | 1.09 | 120.45 | 22.47 | 4.05 | 240.14 | 51.69 | 1.58 | 128.57 | 1028.57 | 0.74 | 136.45 | 957.14 | 0.53 | 217.78 | 96.3 | 0.17 | 30.77 | -10.53 | 10.28 | 100.0 | 35.8 | 180.66 | 1.36 | 9.94 | 26.79 | -85.68 | -19.64 | 73.21 | 184.06 | 9.82 | 19.83 | -25.87 | -6.42 |
| 23Q2 (18) | 16.62 | 26.29 | -26.1 | -5.33 | 51.98 | -228.12 | -2.89 | 70.36 | -172.43 | -5.53 | 50.62 | -414.2 | -2.03 | 45.14 | -338.82 | -0.45 | 58.72 | -183.33 | 0.13 | 8.33 | -31.58 | 5.14 | 507.94 | -43.39 | 178.23 | 3.35 | 14.76 | 187.10 | 64.12 | 81.34 | -87.10 | -522.12 | -1729.03 | 26.75 | -17.57 | 29.85 |
| 23Q1 (17) | 13.16 | -39.21 | -35.43 | -11.10 | -97.16 | -887.23 | -9.75 | -41.51 | -666.86 | -11.20 | -108.57 | -7366.67 | -3.70 | -73.71 | -4525.0 | -1.09 | -101.85 | -673.68 | 0.12 | -20.0 | -36.84 | -1.26 | -306.45 | -119.78 | 172.45 | 2.09 | 7.13 | 114.00 | 38.99 | 37.75 | -14.00 | -177.88 | -181.2 | 32.45 | 6.32 | 56.69 |
| 22Q4 (16) | 21.65 | 5.56 | 20.55 | -5.63 | -732.58 | -513.97 | -6.89 | -358.05 | -395.71 | -5.37 | -3935.71 | -423.49 | -2.13 | -3142.86 | -310.89 | -0.54 | -300.0 | -176.06 | 0.15 | -21.05 | -31.82 | -0.31 | -104.1 | -104.1 | 168.92 | 2.8 | -4.78 | 82.02 | 146.07 | 44.36 | 17.98 | -73.03 | -56.05 | 30.52 | 44.03 | 67.14 |
| 22Q3 (15) | 20.51 | -8.8 | -2.33 | 0.89 | -78.61 | -31.01 | 2.67 | -33.08 | 111.9 | 0.14 | -92.05 | 115.56 | 0.07 | -91.76 | 114.89 | 0.27 | -50.0 | 1250.0 | 0.19 | 0.0 | -5.0 | 7.57 | -16.63 | 34.7 | 164.32 | 5.8 | -4.06 | 33.33 | -67.69 | -66.67 | 66.67 | 1500.0 | 0 | 21.19 | 2.86 | 7.02 |
| 22Q2 (14) | 22.49 | 10.35 | 16.47 | 4.16 | 195.04 | 593.33 | 3.99 | 131.98 | 503.03 | 1.76 | 1273.33 | 172.43 | 0.85 | 1162.5 | 177.27 | 0.54 | 184.21 | 300.0 | 0.19 | 0.0 | 0.0 | 9.08 | 42.54 | 148.09 | 155.31 | -3.52 | 9.33 | 103.17 | 24.67 | 271.96 | -4.76 | -127.62 | -102.98 | 20.60 | -0.53 | -14.49 |
| 22Q1 (13) | 20.38 | 13.47 | -6.9 | 1.41 | 3.68 | -40.51 | 1.72 | -26.18 | 15.44 | -0.15 | -109.04 | 89.21 | -0.08 | -107.92 | 88.24 | 0.19 | -73.24 | 337.5 | 0.19 | -13.64 | -5.0 | 6.37 | -15.85 | -0.47 | 160.98 | -9.26 | 17.53 | 82.76 | 45.66 | -47.73 | 17.24 | -57.85 | 129.56 | 20.71 | 13.42 | -5.04 |
| 21Q4 (12) | 17.96 | -14.48 | -43.2 | 1.36 | 5.43 | -81.74 | 2.33 | 84.92 | -36.68 | 1.66 | 284.44 | -52.16 | 1.01 | 314.89 | -59.76 | 0.71 | 3450.0 | -44.09 | 0.22 | 10.0 | -21.43 | 7.57 | 34.7 | -0.26 | 177.40 | 3.57 | 23.64 | 56.82 | -43.18 | -72.08 | 40.91 | 0 | 139.98 | 18.26 | -7.78 | 15.72 |
| 21Q3 (11) | 21.00 | 8.75 | -36.27 | 1.29 | 115.0 | -91.65 | 1.26 | 227.27 | -91.52 | -0.90 | 62.96 | -107.45 | -0.47 | 57.27 | -103.04 | 0.02 | 107.41 | -99.65 | 0.20 | 5.26 | -55.56 | 5.62 | 53.55 | -67.34 | 171.28 | 20.58 | -1.85 | 100.00 | 266.67 | -3.81 | 0.00 | -100.0 | 100.0 | 19.80 | -17.81 | 68.08 |
| 21Q2 (10) | 19.31 | -11.79 | 118.19 | 0.60 | -74.68 | 104.38 | -0.99 | -166.44 | 94.48 | -2.43 | -74.82 | 84.95 | -1.10 | -61.76 | 87.31 | -0.27 | -237.5 | 90.0 | 0.19 | -5.0 | 5.56 | 3.66 | -42.81 | 131.94 | 142.05 | 3.71 | -27.85 | -60.00 | -137.89 | -178.54 | 160.00 | 374.29 | 577.82 | 24.09 | 10.45 | 0 |
| 21Q1 (9) | 21.89 | -30.77 | 108.87 | 2.37 | -68.19 | 120.19 | 1.49 | -59.51 | 112.62 | -1.39 | -140.06 | 89.4 | -0.68 | -127.09 | 89.91 | -0.08 | -106.3 | 96.23 | 0.20 | -28.57 | 11.11 | 6.40 | -15.68 | 240.97 | 136.97 | -4.54 | -30.64 | 158.33 | -22.19 | 59.45 | -58.33 | 42.99 | -8441.67 | 21.81 | 38.21 | 0 |
| 20Q4 (8) | 31.62 | -4.04 | 134.4 | 7.45 | -51.78 | 215.86 | 3.68 | -75.24 | 150.07 | 3.47 | -71.27 | 136.84 | 2.51 | -83.76 | 141.42 | 1.27 | -77.52 | 171.35 | 0.28 | -37.78 | 21.74 | 7.59 | -55.9 | 866.67 | 143.48 | -17.78 | -16.52 | 203.49 | 95.74 | 132.84 | -102.33 | -2486.05 | -911.78 | 15.78 | 33.96 | -34.41 |
| 20Q3 (7) | 32.95 | 272.32 | 77.92 | 15.45 | 212.77 | 436.46 | 14.86 | 182.92 | 554.63 | 12.08 | 174.8 | 1039.62 | 15.46 | 278.32 | 1677.01 | 5.65 | 309.26 | 927.27 | 0.45 | 150.0 | 55.17 | 17.21 | 250.17 | 165.18 | 174.51 | -11.37 | -6.53 | 103.96 | 36.08 | -18.95 | -3.96 | -116.76 | 86.0 | 11.78 | 0 | -45.08 |
| 20Q2 (6) | 8.85 | -15.55 | -52.9 | -13.70 | -16.7 | -940.49 | -17.92 | -51.74 | -5880.65 | -16.15 | -23.19 | -2053.33 | -8.67 | -28.64 | -1600.0 | -2.70 | -27.36 | -3957.14 | 0.18 | 0.0 | -28.0 | -11.46 | -152.42 | -314.21 | 196.89 | -0.3 | 8.98 | 76.39 | -23.07 | -86.36 | 23.61 | 3275.54 | 105.13 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 10.48 | -22.31 | -36.48 | -11.74 | -82.58 | -320.79 | -11.81 | -60.68 | -752.49 | -13.11 | -39.17 | -612.5 | -6.74 | -11.22 | -491.23 | -2.12 | -19.1 | -1313.33 | 0.18 | -21.74 | -18.18 | -4.54 | -358.59 | -160.61 | 197.49 | 14.9 | 15.6 | 99.30 | 13.62 | 163.19 | 0.70 | -94.45 | -99.73 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 13.49 | -27.16 | 0.0 | -6.43 | -323.26 | 0.0 | -7.35 | -423.79 | 0.0 | -9.42 | -988.68 | 0.0 | -6.06 | -796.55 | 0.0 | -1.78 | -423.64 | 0.0 | 0.23 | -20.69 | 0.0 | -0.99 | -115.25 | 0.0 | 171.88 | -7.94 | 0.0 | 87.39 | -31.86 | 0.0 | 12.61 | 144.6 | 0.0 | 24.06 | 12.17 | 0.0 |
| 19Q3 (3) | 18.52 | -1.44 | 0.0 | 2.88 | 76.69 | 0.0 | 2.27 | 632.26 | 0.0 | 1.06 | 241.33 | 0.0 | 0.87 | 270.59 | 0.0 | 0.55 | 685.71 | 0.0 | 0.29 | 16.0 | 0.0 | 6.49 | 21.31 | 0.0 | 186.71 | 3.35 | 0.0 | 128.26 | -77.1 | 0.0 | -28.26 | 93.86 | 0.0 | 21.45 | -6.5 | 0.0 |
| 19Q2 (2) | 18.79 | 13.88 | 0.0 | 1.63 | 158.42 | 0.0 | 0.31 | -82.87 | 0.0 | -0.75 | 59.24 | 0.0 | -0.51 | 55.26 | 0.0 | 0.07 | 146.67 | 0.0 | 0.25 | 13.64 | 0.0 | 5.35 | -28.57 | 0.0 | 180.66 | 5.75 | 0.0 | 560.00 | 456.36 | 0.0 | -460.00 | -278.89 | 0.0 | 22.94 | -15.07 | 0.0 |
| 19Q1 (1) | 16.50 | 0.0 | 0.0 | -2.79 | 0.0 | 0.0 | 1.81 | 0.0 | 0.0 | -1.84 | 0.0 | 0.0 | -1.14 | 0.0 | 0.0 | -0.15 | 0.0 | 0.0 | 0.22 | 0.0 | 0.0 | 7.49 | 0.0 | 0.0 | 170.84 | 0.0 | 0.0 | -157.14 | 0.0 | 0.0 | 257.14 | 0.0 | 0.0 | 27.01 | 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) | 16.90 | -20.36 | -3.99 | 0 | 4.68 | 41.18 | -1.47 | 0 | -3.63 | 0 | -5.40 | 0 | -0.83 | 0 | 0.54 | -23.94 | 6.19 | 3.69 | 184.81 | 9.41 | 271.64 | 294.32 | -171.64 | 0 | 2.92 | -1.81 | 25.69 | 12.33 |
| 2022 (9) | 21.22 | 6.21 | 0.50 | -64.79 | 3.31 | 6.21 | 0.74 | -33.33 | -0.68 | 0 | -1.32 | 0 | 0.44 | 10.0 | 0.71 | -10.13 | 5.97 | 0.84 | 168.92 | -4.78 | 68.89 | -45.77 | 33.33 | 0 | 2.97 | 3.17 | 22.87 | 9.79 |
| 2021 (8) | 19.98 | -22.5 | 1.42 | -71.77 | 3.12 | 13.14 | 1.11 | -64.19 | -0.64 | 0 | -1.33 | 0 | 0.40 | -87.54 | 0.79 | -30.7 | 5.92 | -17.66 | 177.40 | 23.64 | 127.03 | -21.67 | -27.03 | 0 | 2.88 | -11.23 | 20.83 | 17.48 |
| 2020 (7) | 25.78 | 52.0 | 5.03 | 0 | 2.76 | -23.7 | 3.10 | 0 | 1.92 | 0 | 5.58 | 0 | 3.21 | 0 | 1.14 | 15.15 | 7.19 | 53.63 | 143.48 | -16.52 | 162.17 | 3.68 | -62.17 | 0 | 3.24 | -11.2 | 17.73 | -25.13 |
| 2019 (6) | 16.96 | -4.29 | -0.88 | 0 | 3.61 | 33.3 | -0.56 | 0 | -2.48 | 0 | -6.76 | 0 | -1.30 | 0 | 0.99 | -5.71 | 4.68 | -2.5 | 171.88 | -4.69 | 156.41 | 0 | -56.41 | 0 | 3.65 | -1.35 | 23.68 | 2.2 |
| 2018 (5) | 17.72 | -9.78 | -0.85 | 0 | 2.71 | -3.58 | 0.68 | 106.06 | -0.59 | 0 | -1.75 | 0 | 0.40 | 0 | 1.05 | 0.0 | 4.80 | 10.6 | 180.33 | -2.85 | -126.00 | 0 | 228.00 | 0 | 3.70 | -0.77 | 23.17 | 9.91 |
| 2017 (4) | 19.64 | 9.9 | 1.06 | 34.18 | 2.81 | -0.6 | 0.33 | 0 | -0.97 | 0 | -2.88 | 0 | -0.14 | 0 | 1.05 | 0.96 | 4.34 | 44.19 | 185.62 | 1.69 | 320.83 | 0 | -220.83 | 0 | 3.73 | 0 | 21.08 | -2.63 |
| 2016 (3) | 17.87 | -8.12 | 0.79 | 0 | 2.83 | -2.08 | -1.00 | 0 | -2.29 | 0 | -6.33 | 0 | -1.55 | 0 | 1.04 | 7.22 | 3.01 | -23.41 | 182.53 | 19.3 | -78.87 | 0 | 178.87 | 257.75 | 0.00 | 0 | 21.65 | -5.83 |
| 2015 (2) | 19.45 | 0.99 | -0.10 | 0 | 2.89 | 2.21 | -0.20 | 0 | -0.81 | 0 | -1.89 | 0 | 0.02 | -98.88 | 0.97 | -8.49 | 3.93 | -30.44 | 153.00 | 16.59 | 50.00 | -52.67 | 50.00 | 0 | 0.00 | 0 | 22.99 | 9.37 |
| 2014 (1) | 19.26 | 0 | 1.82 | 0 | 2.82 | 6.51 | 1.73 | 0 | 0.89 | 0 | 2.33 | 0 | 1.78 | 0 | 1.06 | -6.19 | 5.65 | -11.86 | 131.23 | -20.6 | 105.65 | 15.37 | -5.65 | 0 | 0.00 | 0 | 21.02 | -1.82 |
