- 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) | 15.01 | 4.67 | 61.4 | 9.74 | 8.83 | 237.02 | 9.15 | -27.9 | 2950.0 | 8.11 | -29.29 | 624.11 | 3.54 | -38.11 | 428.36 | 2.27 | -9.92 | 609.38 | 0.25 | 19.05 | 38.89 | 11.31 | -21.24 | 161.81 | 87.27 | 49.97 | -65.84 | 105.36 | 48.36 | -92.47 | -7.14 | -124.64 | 99.45 | 8.88 | -14.53 | 52.84 |
| 23Q3 (19) | 14.34 | 45.58 | 748.87 | 8.95 | 203.39 | 166.15 | 12.69 | 281.08 | 270.56 | 11.47 | 189.65 | 326.23 | 5.72 | 113.43 | 483.89 | 2.52 | 189.66 | 912.9 | 0.21 | 10.53 | 133.33 | 14.36 | 165.93 | 1531.82 | 58.19 | -78.01 | -75.87 | 71.01 | -20.11 | -61.06 | 28.99 | 160.87 | 135.2 | 10.39 | 22.52 | -4.06 |
| 23Q2 (18) | 9.85 | -16.74 | -24.64 | 2.95 | 38.5 | 10.07 | 3.33 | -7.24 | -9.51 | 3.96 | 14.12 | 26.52 | 2.68 | 135.09 | 162.75 | 0.87 | 89.13 | 89.13 | 0.19 | 111.11 | 90.0 | 5.40 | -30.59 | -49.2 | 264.60 | 6.2 | 19.3 | 88.89 | 60.0 | 14.29 | 11.11 | -75.0 | -66.67 | 8.48 | -29.98 | 21.49 |
| 23Q1 (17) | 11.83 | 27.2 | -31.14 | 2.13 | -26.3 | 47.92 | 3.59 | 1096.67 | 99.44 | 3.47 | 209.82 | 281.32 | 1.14 | 70.15 | 418.18 | 0.46 | 43.75 | 142.11 | 0.09 | -50.0 | 12.5 | 7.78 | 80.09 | -24.76 | 249.15 | -2.47 | 17.97 | 55.56 | -96.03 | -25.93 | 44.44 | 103.42 | 77.78 | 12.11 | 108.43 | 28.83 |
| 22Q4 (16) | 9.30 | 520.81 | -36.78 | 2.89 | 121.36 | 373.77 | 0.30 | 104.03 | -72.97 | 1.12 | 122.09 | 167.07 | 0.67 | 144.97 | 179.17 | 0.32 | 203.23 | 68.42 | 0.18 | 100.0 | 100.0 | 4.32 | 390.91 | -47.89 | 255.46 | 5.93 | 18.64 | 1400.00 | 667.74 | 2700.0 | -1300.00 | -1478.57 | -2700.0 | 5.81 | -46.35 | -34.57 |
| 22Q3 (15) | -2.21 | -116.91 | -108.54 | -13.53 | -604.85 | -218.37 | -7.44 | -302.17 | -255.32 | -5.07 | -261.98 | -361.34 | -1.49 | -246.08 | -202.76 | -0.31 | -167.39 | -165.96 | 0.09 | -10.0 | 0.0 | 0.88 | -91.72 | -92.96 | 241.15 | 8.72 | 17.58 | 182.35 | 134.45 | -25.4 | -82.35 | -347.06 | 42.99 | 10.83 | 55.16 | 28.62 |
| 22Q2 (14) | 13.07 | -23.92 | -43.98 | 2.68 | 86.11 | -41.48 | 3.68 | 104.44 | 200.0 | 3.13 | 243.96 | 144.08 | 1.02 | 363.64 | 131.29 | 0.46 | 142.11 | 264.29 | 0.10 | 25.0 | 0.0 | 10.63 | 2.8 | 47.84 | 221.80 | 5.02 | -68.39 | 77.78 | 3.7 | 158.33 | 33.33 | 33.33 | -85.71 | 6.98 | -25.74 | -31.1 |
| 22Q1 (13) | 17.18 | 16.79 | -4.71 | 1.44 | 136.07 | 101.76 | 1.80 | 62.16 | 106.01 | 0.91 | 154.49 | 101.48 | 0.22 | -8.33 | 107.53 | 0.19 | 0.0 | 167.86 | 0.08 | -11.11 | 700.0 | 10.34 | 24.73 | -35.38 | 211.20 | -1.91 | -66.04 | 75.00 | 50.0 | -71.43 | 25.00 | -50.0 | 115.38 | 9.40 | 5.86 | -74.05 |
| 21Q4 (12) | 14.71 | -43.14 | -27.64 | 0.61 | -94.66 | 101.63 | 1.11 | -76.83 | 100.79 | -1.67 | -186.08 | 98.81 | 0.24 | -83.45 | 100.35 | 0.19 | -59.57 | 101.93 | 0.09 | 0.0 | 28.57 | 8.29 | -33.68 | 106.64 | 215.32 | 4.99 | -63.42 | 50.00 | -79.55 | 88.46 | 50.00 | 134.62 | -31.31 | 8.88 | 5.46 | -54.86 |
| 21Q3 (11) | 25.87 | 10.89 | 673.61 | 11.43 | 149.56 | 121.54 | 4.79 | 230.16 | 107.02 | 1.94 | 127.32 | 102.84 | 1.45 | 144.48 | 104.3 | 0.47 | 267.86 | 108.01 | 0.09 | -10.0 | 0.0 | 12.50 | 73.85 | 124.08 | 205.09 | -70.77 | -63.13 | 244.44 | 283.33 | 215.56 | -144.44 | -161.9 | -740.97 | 8.42 | -16.88 | -50.21 |
| 21Q2 (10) | 23.33 | 29.4 | 0.73 | 4.58 | 105.6 | 105.6 | -3.68 | 87.7 | 98.29 | -7.10 | 88.48 | 96.7 | -3.26 | -11.64 | 91.62 | -0.28 | 0.0 | 96.95 | 0.10 | 900.0 | 150.0 | 7.19 | -55.06 | 103.92 | 701.71 | 12.82 | 82.47 | -133.33 | -150.79 | -449.63 | 233.33 | 243.59 | 277.17 | 10.13 | -72.04 | 0 |
| 21Q1 (9) | 18.03 | -11.31 | 173.65 | -81.78 | -117.91 | 12.22 | -29.93 | 78.61 | 77.92 | -61.64 | 55.97 | 54.77 | -2.92 | 95.69 | 86.47 | -0.28 | 97.16 | 95.46 | 0.01 | -85.71 | -80.0 | 16.00 | 112.82 | 115.3 | 621.97 | 5.65 | 132.56 | 262.50 | 889.42 | 282.99 | -162.50 | -323.25 | -616.52 | 36.23 | 84.19 | 0 |
| 20Q4 (8) | 20.33 | 550.78 | -10.08 | -37.53 | 29.27 | -74.64 | -139.93 | -104.97 | -690.56 | -139.98 | -105.07 | -657.47 | -67.80 | -101.25 | -1006.04 | -9.86 | -67.97 | -453.93 | 0.07 | -22.22 | -36.36 | -124.76 | -140.29 | -3244.77 | 588.69 | 5.82 | 172.45 | 26.53 | -65.75 | -78.78 | 72.79 | 223.0 | 439.68 | 19.67 | 16.32 | -33.93 |
| 20Q3 (7) | -4.51 | -119.47 | -133.09 | -53.06 | 35.17 | -157.57 | -68.27 | 68.33 | -148.8 | -68.26 | 68.28 | -150.22 | -33.69 | 13.42 | -365.33 | -5.87 | 35.99 | -132.94 | 0.09 | 125.0 | -10.0 | -51.92 | 71.73 | -341.5 | 556.30 | 44.66 | 180.31 | 77.46 | 103.13 | 2.36 | 22.54 | -63.57 | -7.36 | 16.91 | 0 | -16.7 |
| 20Q2 (6) | 23.16 | 194.61 | 1035.29 | -81.84 | 12.16 | -135.61 | -215.60 | -59.04 | -194.2 | -215.19 | -57.89 | -204.0 | -38.91 | -80.31 | -207.07 | -9.17 | -48.62 | -168.28 | 0.04 | -20.0 | -33.33 | -183.64 | -75.65 | -172.14 | 384.57 | 43.8 | 168.09 | 38.14 | -44.36 | -61.86 | 61.86 | 96.64 | 11050.0 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | -24.48 | -208.27 | -10.37 | -93.17 | -333.55 | -96.85 | -135.56 | -665.88 | -187.14 | -136.29 | -637.5 | -189.06 | -21.58 | -252.04 | -91.82 | -6.17 | -246.63 | -69.51 | 0.05 | -54.55 | -37.5 | -104.55 | -2702.95 | -230.33 | 267.44 | 23.77 | 22.68 | 68.54 | -45.17 | -31.46 | 31.46 | 246.82 | 0 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 22.61 | 65.88 | 0.0 | -21.49 | -4.32 | 0.0 | -17.70 | 35.5 | 0.0 | -18.48 | 32.26 | 0.0 | -6.13 | 15.33 | 0.0 | -1.78 | 29.37 | 0.0 | 0.11 | 10.0 | 0.0 | -3.73 | 68.28 | 0.0 | 216.07 | 8.87 | 0.0 | 125.00 | 65.18 | 0.0 | -21.43 | -188.1 | 0.0 | 29.77 | 46.65 | 0.0 |
| 19Q3 (3) | 13.63 | 568.14 | 0.0 | -20.60 | -108.96 | 0.0 | -27.44 | -111.99 | 0.0 | -27.28 | -113.18 | 0.0 | -7.24 | -119.92 | 0.0 | -2.52 | -118.76 | 0.0 | 0.10 | 66.67 | 0.0 | -11.76 | -104.62 | 0.0 | 198.46 | 38.35 | 0.0 | 75.68 | -24.32 | 0.0 | 24.32 | 4405.41 | 0.0 | 20.30 | -36.06 | 0.0 |
| 19Q2 (2) | 2.04 | 109.2 | 0.0 | 229.82 | 585.57 | 0.0 | 228.87 | 584.79 | 0.0 | 206.91 | 538.83 | 0.0 | 36.34 | 423.02 | 0.0 | 13.43 | 468.96 | 0.0 | 0.06 | -25.0 | 0.0 | 254.55 | 904.27 | 0.0 | 143.45 | -34.19 | 0.0 | 100.00 | 0.0 | 0.0 | -0.56 | 0 | 0.0 | 31.75 | -6.45 | 0.0 |
| 19Q1 (1) | -22.18 | 0.0 | 0.0 | -47.33 | 0.0 | 0.0 | -47.21 | 0.0 | 0.0 | -47.15 | 0.0 | 0.0 | -11.25 | 0.0 | 0.0 | -3.64 | 0.0 | 0.0 | 0.08 | 0.0 | 0.0 | -31.65 | 0.0 | 0.0 | 217.99 | 0.0 | 0.0 | 100.00 | 0.0 | 0.0 | -0.00 | 0.0 | 0.0 | 33.94 | 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) | 12.98 | 40.32 | 6.64 | 0 | 1.33 | -17.88 | 7.80 | 0 | 7.29 | 2178.12 | 12.91 | 2973.81 | 5.76 | 800.0 | 0.72 | 60.0 | 10.06 | 65.73 | 87.27 | -65.84 | 84.87 | -75.75 | 15.13 | 0 | 16.50 | 3.56 | 9.62 | 25.59 |
| 2022 (9) | 9.25 | -55.53 | -0.59 | 0 | 1.63 | -57.46 | -0.21 | 0 | 0.32 | 0 | 0.42 | 0 | 0.64 | 190.91 | 0.45 | 55.17 | 6.07 | -36.97 | 255.46 | 18.64 | 350.00 | 0 | -200.00 | 0 | 15.94 | -19.15 | 7.66 | -25.12 |
| 2021 (8) | 20.80 | 416.13 | 1.71 | 0 | 3.82 | -73.26 | -0.35 | 0 | -4.54 | 0 | -1.08 | 0 | 0.22 | 0 | 0.29 | 45.0 | 9.63 | 0 | 215.32 | -63.42 | -500.00 | 0 | 600.00 | 999.14 | 19.71 | -31.3 | 10.23 | -67.46 |
| 2020 (7) | 4.03 | -52.98 | -58.73 | 0 | 14.29 | 15.56 | -129.09 | 0 | -129.18 | 0 | -116.12 | 0 | -25.26 | 0 | 0.20 | -48.72 | -107.90 | 0 | 588.69 | 172.45 | 45.41 | 0 | 54.59 | -81.29 | 28.69 | 265.38 | 31.44 | 12.29 |
| 2019 (6) | 8.57 | 1614.0 | -30.76 | 0 | 12.36 | 85.12 | 16.20 | 0 | 12.24 | 0 | 14.17 | 0 | 5.44 | 0 | 0.39 | -41.79 | 32.89 | 0 | 216.07 | 23.5 | -190.41 | 0 | 291.78 | 10112.33 | 7.85 | 6621.61 | 28.00 | 57.22 |
| 2018 (5) | 0.50 | -83.97 | -11.44 | 0 | 6.68 | 36.62 | -11.72 | 0 | -11.34 | 0 | -19.88 | 0 | -6.87 | 0 | 0.67 | -15.19 | -3.67 | 0 | 174.95 | 14.44 | 98.57 | 15.82 | 2.86 | -80.82 | 0.12 | 10.05 | 17.81 | 40.24 |
| 2017 (4) | 3.12 | 3.31 | -5.27 | 0 | 4.89 | 14.72 | -6.15 | 0 | -6.07 | 0 | -12.00 | 0 | -4.09 | 0 | 0.79 | -1.25 | -0.13 | 0 | 152.88 | 3.34 | 85.11 | -21.9 | 14.89 | 0 | 0.11 | 0 | 12.70 | 6.37 |
| 2016 (3) | 3.02 | 1787.5 | 10.61 | 0 | 4.26 | -17.85 | 9.74 | 0 | 8.09 | 0 | 17.78 | 0 | 7.45 | 0 | 0.80 | 8.11 | 15.54 | 629.58 | 147.94 | -27.52 | 108.97 | 55.08 | -8.97 | 0 | 0.00 | 0 | 11.94 | -5.39 |
| 2015 (2) | 0.16 | -68.0 | -3.49 | 0 | 5.19 | 27.32 | -4.95 | 0 | -5.03 | 0 | -11.38 | 0 | -2.56 | 0 | 0.74 | -22.11 | 2.13 | 0 | 204.10 | -2.67 | 70.27 | -25.05 | 29.73 | 375.68 | 0.00 | 0 | 12.62 | 20.31 |
| 2014 (1) | 0.50 | 0 | -6.08 | 0 | 4.07 | -28.15 | -6.51 | 0 | -6.59 | 0 | -18.99 | 0 | -5.05 | 0 | 0.95 | 25.0 | -0.92 | 0 | 209.70 | 5.08 | 93.75 | 16.64 | 6.25 | -68.15 | 0.00 | 0 | 10.49 | -18.68 |
