- 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) | 8.00 | 6.24 | -26.54 | -2.91 | -2.83 | -223.33 | 4.49 | 205.9 | 372.12 | 4.54 | 195.58 | 558.59 | 1.72 | 200.58 | 637.5 | 1.06 | 235.9 | 2220.0 | 0.20 | 5.26 | 17.65 | 8.26 | 2114.63 | 147.31 | 85.18 | -1.69 | 4.27 | -64.71 | -195.52 | -218.63 | 164.71 | 410.59 | 262.35 | 14.46 | -2.82 | -11.61 |
| 23Q3 (19) | 7.53 | -5.64 | -37.46 | -2.83 | 28.35 | -324.6 | -4.24 | 0.0 | -190.99 | -4.75 | -18.45 | -234.56 | -1.71 | -52.68 | -232.56 | -0.78 | -65.96 | -196.3 | 0.19 | 26.67 | -5.0 | -0.41 | -133.61 | -104.58 | 86.64 | 2.79 | 4.25 | 67.74 | -29.31 | 150.65 | 32.26 | 287.1 | -55.79 | 14.88 | -25.08 | -1.33 |
| 23Q2 (18) | 7.98 | 0.88 | -46.15 | -3.95 | 6.84 | -194.72 | -4.24 | -28.88 | -197.7 | -4.01 | -21.52 | -231.48 | -1.12 | -16.67 | -197.39 | -0.47 | -17.5 | -164.38 | 0.15 | -6.25 | -25.0 | 1.22 | -49.38 | -85.7 | 84.29 | -0.17 | -0.77 | 95.83 | -26.28 | 1.47 | 8.33 | 127.78 | 200.0 | 19.86 | 7.24 | 28.54 |
| 23Q1 (17) | 7.91 | -27.36 | -38.4 | -4.24 | -371.11 | -280.43 | -3.29 | -99.39 | -167.14 | -3.30 | -233.33 | -185.05 | -0.96 | -200.0 | -159.63 | -0.40 | -700.0 | -144.44 | 0.16 | -5.88 | -23.81 | 2.41 | -27.84 | -71.85 | 84.43 | 3.35 | -7.83 | 130.00 | 138.33 | 172.38 | -30.00 | -166.0 | -157.39 | 18.52 | 13.2 | 33.72 |
| 22Q4 (16) | 10.89 | -9.55 | -2.16 | -0.90 | -171.43 | -223.29 | -1.65 | -135.41 | -168.18 | -0.99 | -128.05 | -152.11 | -0.32 | -124.81 | -137.21 | -0.05 | -106.17 | -110.0 | 0.17 | -15.0 | -22.73 | 3.34 | -62.72 | -41.71 | 81.69 | -1.71 | -21.58 | 54.55 | 101.82 | 79.22 | 45.45 | -37.71 | -34.66 | 16.36 | 8.49 | 21.55 |
| 22Q3 (15) | 12.04 | -18.76 | -10.81 | 1.26 | -69.78 | -67.19 | 4.66 | 7.37 | 0.65 | 3.53 | 15.74 | 2.62 | 1.29 | 12.17 | -19.38 | 0.81 | 10.96 | -6.9 | 0.20 | 0.0 | -13.04 | 8.96 | 5.04 | 10.62 | 83.11 | -2.15 | -19.54 | 27.03 | -71.38 | -67.13 | 72.97 | 2527.03 | 310.47 | 15.08 | -2.39 | 10.96 |
| 22Q2 (14) | 14.82 | 15.42 | -16.79 | 4.17 | 77.45 | -24.46 | 4.34 | -11.43 | -37.64 | 3.05 | -21.39 | -47.05 | 1.15 | -28.57 | -49.34 | 0.73 | -18.89 | -42.52 | 0.20 | -4.76 | -4.76 | 8.53 | -0.35 | -22.45 | 84.94 | -7.27 | -9.24 | 94.44 | 97.88 | 17.53 | 2.78 | -94.69 | -87.04 | 15.45 | 11.55 | -4.28 |
| 22Q1 (13) | 12.84 | 15.36 | -25.87 | 2.35 | 221.92 | -64.56 | 4.90 | 102.48 | -28.26 | 3.88 | 104.21 | -29.58 | 1.61 | 87.21 | -25.46 | 0.90 | 80.0 | -25.62 | 0.21 | -4.55 | 0.0 | 8.56 | 49.39 | -19.47 | 91.60 | -12.07 | 7.31 | 47.73 | 56.82 | -50.44 | 52.27 | -24.86 | 1311.36 | 13.85 | 2.9 | -10.36 |
| 21Q4 (12) | 11.13 | -17.56 | -31.47 | 0.73 | -80.99 | -84.4 | 2.42 | -47.73 | -64.83 | 1.90 | -44.77 | -71.34 | 0.86 | -46.25 | -69.82 | 0.50 | -42.53 | -67.32 | 0.22 | -4.35 | 0.0 | 5.73 | -29.26 | -46.65 | 104.17 | 0.85 | 11.39 | 30.43 | -62.98 | -55.87 | 69.57 | 291.3 | 112.36 | 13.46 | -0.96 | -12.82 |
| 21Q3 (11) | 13.50 | -24.2 | 1.73 | 3.84 | -30.43 | 57.38 | 4.63 | -33.48 | -22.96 | 3.44 | -40.28 | -1.15 | 1.60 | -29.52 | 20.3 | 0.87 | -31.5 | 16.0 | 0.23 | 9.52 | 21.05 | 8.10 | -26.36 | -21.21 | 103.29 | 10.36 | 5.31 | 82.22 | 2.32 | 100.99 | 17.78 | -17.04 | -69.91 | 13.59 | -15.8 | -9.94 |
| 21Q2 (10) | 17.81 | 2.83 | 26.4 | 5.52 | -16.74 | 2300.0 | 6.96 | 1.9 | 480.0 | 5.76 | 4.54 | 85.81 | 2.27 | 5.09 | 134.02 | 1.27 | 4.96 | 115.25 | 0.21 | 0.0 | 31.25 | 11.00 | 3.48 | 67.17 | 93.59 | 9.64 | -0.63 | 80.36 | -16.55 | 462.5 | 21.43 | 478.57 | -75.0 | 16.14 | 4.47 | -4.78 |
| 21Q1 (9) | 17.32 | 6.65 | 41.97 | 6.63 | 41.67 | 357.24 | 6.83 | -0.73 | 919.4 | 5.51 | -16.89 | 6022.22 | 2.16 | -24.21 | 7100.0 | 1.21 | -20.92 | 1110.0 | 0.21 | -4.55 | 10.53 | 10.63 | -1.02 | 100.57 | 85.36 | -8.73 | -5.8 | 96.30 | 39.63 | -51.85 | 3.70 | -88.69 | 103.7 | 15.45 | 0.06 | 0 |
| 20Q4 (8) | 16.24 | 22.38 | 49.4 | 4.68 | 91.8 | 190.68 | 6.88 | 14.48 | -18.48 | 6.63 | 90.52 | 2.16 | 2.85 | 114.29 | -7.47 | 1.53 | 104.0 | -7.83 | 0.22 | 15.79 | -8.33 | 10.74 | 4.47 | -11.31 | 93.52 | -4.65 | 3.22 | 68.97 | 68.58 | 269.46 | 32.76 | -44.56 | -59.72 | 15.44 | 2.32 | 0 |
| 20Q3 (7) | 13.27 | -5.82 | 27.35 | 2.44 | 960.87 | 78.1 | 6.01 | 400.83 | 7612.5 | 3.48 | 12.26 | 970.0 | 1.33 | 37.11 | 838.89 | 0.75 | 27.12 | 0 | 0.19 | 18.75 | -13.64 | 10.28 | 56.23 | 198.84 | 98.08 | 4.14 | -3.46 | 40.91 | 186.36 | 103.41 | 59.09 | -31.06 | -95.08 | 15.09 | -10.97 | 22.88 |
| 20Q2 (6) | 14.09 | 15.49 | 95.15 | 0.23 | -84.14 | 123.71 | 1.20 | 79.1 | 195.24 | 3.10 | 3344.44 | 297.45 | 0.97 | 3133.33 | 238.57 | 0.59 | 490.0 | 345.83 | 0.16 | -15.79 | -27.27 | 6.58 | 24.15 | 100.61 | 94.18 | 3.93 | -7.51 | 14.29 | -92.86 | -80.36 | 85.71 | 185.71 | 214.29 | 16.95 | 0 | 34.63 |
| 20Q1 (5) | 12.20 | 12.24 | 44.04 | 1.45 | -9.94 | 178.38 | 0.67 | -92.06 | 148.15 | 0.09 | -98.61 | 137.5 | 0.03 | -99.03 | 127.27 | 0.10 | -93.98 | 150.0 | 0.19 | -20.83 | -13.64 | 5.30 | -56.23 | 17.52 | 90.62 | 0.02 | -13.22 | 200.00 | 971.43 | 125.0 | -100.00 | -222.95 | -111.11 | 0.00 | 0 | -100.0 |
| 19Q4 (4) | 10.87 | 4.32 | 0.0 | 1.61 | 17.52 | 0.0 | 8.44 | 10650.0 | 0.0 | 6.49 | 1722.5 | 0.0 | 3.08 | 1811.11 | 0.0 | 1.66 | 0 | 0.0 | 0.24 | 9.09 | 0.0 | 12.11 | 252.03 | 0.0 | 90.60 | -10.82 | 0.0 | 18.67 | 101.56 | 0.0 | 81.33 | -93.22 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 10.42 | 44.32 | 0.0 | 1.37 | 241.24 | 0.0 | -0.08 | 93.65 | 0.0 | -0.40 | 74.52 | 0.0 | -0.18 | 74.29 | 0.0 | 0.00 | 100.0 | 0.0 | 0.22 | 0.0 | 0.0 | 3.44 | 4.88 | 0.0 | 101.59 | -0.24 | 0.0 | -1200.00 | -1750.0 | 0.0 | 1200.00 | 4300.0 | 0.0 | 12.28 | -2.46 | 0.0 |
| 19Q2 (2) | 7.22 | -14.76 | 0.0 | -0.97 | 47.57 | 0.0 | -1.26 | -566.67 | 0.0 | -1.57 | -554.17 | 0.0 | -0.70 | -536.36 | 0.0 | -0.24 | -700.0 | 0.0 | 0.22 | 0.0 | 0.0 | 3.28 | -27.27 | 0.0 | 101.83 | -2.49 | 0.0 | 72.73 | 109.09 | 0.0 | 27.27 | -96.97 | 0.0 | 12.59 | 3.54 | 0.0 |
| 19Q1 (1) | 8.47 | 0.0 | 0.0 | -1.85 | 0.0 | 0.0 | 0.27 | 0.0 | 0.0 | -0.24 | 0.0 | 0.0 | -0.11 | 0.0 | 0.0 | 0.04 | 0.0 | 0.0 | 0.22 | 0.0 | 0.0 | 4.51 | 0.0 | 0.0 | 104.43 | 0.0 | 0.0 | -800.00 | 0.0 | 0.0 | 900.00 | 0.0 | 0.0 | 12.16 | 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) | 7.85 | -38.33 | -3.42 | 0 | 3.54 | 1.61 | -1.54 | 0 | -1.62 | 0 | -2.08 | 0 | -0.61 | 0 | 0.70 | -10.26 | 3.05 | -59.5 | 85.18 | 4.27 | 224.39 | 299.34 | -121.95 | 0 | 0.32 | -41.07 | 16.67 | 10.32 |
| 2022 (9) | 12.73 | -13.52 | 1.85 | -53.98 | 3.48 | 9.88 | 3.28 | -35.31 | 2.53 | -37.22 | 3.81 | -44.86 | 2.41 | -35.73 | 0.78 | -9.3 | 7.53 | -13.45 | 81.69 | -21.58 | 56.19 | -29.06 | 43.81 | 110.76 | 0.54 | 35.62 | 15.11 | 3.78 |
| 2021 (8) | 14.72 | 4.62 | 4.02 | 67.5 | 3.17 | -19.16 | 5.07 | 26.75 | 4.03 | 14.16 | 6.91 | 33.4 | 3.75 | 24.17 | 0.86 | 13.16 | 8.70 | 2.35 | 104.17 | 11.39 | 79.21 | 30.87 | 20.79 | -48.49 | 0.40 | 28.34 | 14.56 | -6.43 |
| 2020 (7) | 14.07 | 51.94 | 2.40 | 4700.0 | 3.92 | 15.62 | 4.00 | 108.33 | 3.53 | 212.39 | 5.18 | 153.92 | 3.02 | 111.19 | 0.76 | -18.28 | 8.50 | 43.82 | 93.52 | 3.22 | 60.53 | 1897.37 | 40.35 | -59.03 | 0.31 | -19.63 | 15.56 | 27.23 |
| 2019 (6) | 9.26 | -18.91 | 0.05 | -98.09 | 3.39 | 16.79 | 1.92 | -52.0 | 1.13 | -60.9 | 2.04 | -62.77 | 1.43 | -53.72 | 0.93 | 0.0 | 5.91 | -21.93 | 90.60 | -6.72 | 3.03 | -95.37 | 98.48 | 185.61 | 0.39 | -13.55 | 12.23 | 10.98 |
| 2018 (5) | 11.42 | -16.46 | 2.62 | -49.22 | 2.90 | 4.91 | 4.00 | -6.76 | 2.89 | -9.97 | 5.48 | -4.86 | 3.09 | -4.33 | 0.93 | 2.2 | 7.57 | -1.69 | 97.13 | -13.6 | 65.52 | -45.78 | 34.48 | 0 | 0.45 | -14.58 | 11.02 | 0.36 |
| 2017 (4) | 13.67 | -0.73 | 5.16 | -7.19 | 2.77 | -3.51 | 4.29 | -8.14 | 3.21 | -14.4 | 5.76 | -12.73 | 3.23 | -15.89 | 0.91 | -4.21 | 7.70 | -4.7 | 112.42 | 39.32 | 120.83 | 1.37 | -20.14 | 0 | 0.52 | 0 | 10.98 | 1.29 |
| 2016 (3) | 13.77 | 32.15 | 5.56 | 115.5 | 2.87 | 9.13 | 4.67 | 43.69 | 3.75 | 44.23 | 6.60 | 31.21 | 3.84 | 28.86 | 0.95 | -5.94 | 8.08 | 25.27 | 80.69 | -11.21 | 119.21 | 50.99 | -19.21 | 0 | 0.00 | 0 | 10.84 | 9.05 |
| 2015 (2) | 10.42 | 32.07 | 2.58 | 193.18 | 2.63 | 0.91 | 3.25 | 55.5 | 2.60 | 61.49 | 5.03 | 56.21 | 2.98 | 49.0 | 1.01 | -0.98 | 6.45 | 22.62 | 90.88 | -2.51 | 78.95 | 88.46 | 21.05 | -63.77 | 0.00 | 0 | 9.94 | 11.06 |
| 2014 (1) | 7.89 | 0 | 0.88 | 0 | 2.60 | 35.82 | 2.09 | 0 | 1.61 | 0 | 3.22 | 0 | 2.00 | 0 | 1.02 | -4.67 | 5.26 | 8.9 | 93.22 | -4.76 | 41.89 | 0 | 58.11 | -46.41 | 0.00 | 0 | 8.95 | 8.09 |
