- 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) | 20.10 | 12.61 | 974.87 | 12.61 | 30.27 | 203.19 | 8.26 | -28.11 | 145.51 | 5.94 | -34.8 | 145.94 | 4.38 | -26.88 | 233.54 | 1.89 | -31.02 | 235.97 | 0.30 | 3.45 | 172.73 | 11.91 | -25.0 | 272.36 | 141.03 | -0.91 | 16.6 | 152.63 | 81.0 | 126.17 | -52.63 | -435.84 | -261.87 | 8.40 | 13.67 | -45.13 |
| 23Q3 (19) | 17.85 | 71.8 | 530.74 | 9.68 | 693.87 | 189.3 | 11.49 | 751.11 | 328.43 | 9.11 | 793.14 | 326.05 | 5.99 | 1896.67 | 595.04 | 2.74 | 1041.67 | 695.65 | 0.29 | 107.14 | 123.08 | 15.88 | 38.69 | 306.14 | 142.33 | 31.84 | 10.48 | 84.33 | 169.45 | -60.74 | 15.67 | -92.69 | 113.65 | 7.39 | -47.1 | -51.76 |
| 23Q2 (18) | 10.39 | 60.34 | 327.57 | -1.63 | 87.65 | 87.95 | 1.35 | 108.59 | 110.68 | 1.02 | 107.88 | 110.9 | 0.30 | 113.64 | 112.35 | 0.24 | 125.53 | 124.74 | 0.14 | 75.0 | 27.27 | 11.45 | 741.91 | 591.42 | 107.96 | 0.02 | -20.55 | -121.43 | -243.22 | -212.89 | 214.29 | 1214.29 | 3287.5 | 13.97 | -41.99 | -31.52 |
| 23Q1 (17) | 6.48 | 246.52 | 24.86 | -13.20 | -8.02 | -184.48 | -15.71 | 13.44 | -298.73 | -12.95 | -0.15 | -311.11 | -2.20 | 32.93 | -69.23 | -0.94 | 32.37 | -108.89 | 0.08 | -27.27 | -46.67 | 1.36 | 119.68 | -23.16 | 107.94 | -10.76 | -25.97 | 84.78 | 25.63 | -28.6 | 16.30 | -49.86 | 194.86 | 24.08 | 57.28 | 63.92 |
| 22Q4 (16) | 1.87 | -33.92 | -86.11 | -12.22 | -12.73 | -280.77 | -18.15 | -260.83 | -402.5 | -12.93 | -220.84 | -369.94 | -3.28 | -171.07 | -154.94 | -1.39 | -202.17 | -166.19 | 0.11 | -15.38 | -75.0 | -6.91 | -276.73 | -190.56 | 120.95 | -6.12 | -37.84 | 67.48 | -68.58 | -40.17 | 32.52 | 128.32 | 360.98 | 15.31 | -0.07 | 317.17 |
| 22Q3 (15) | 2.83 | 16.46 | -77.61 | -10.84 | 19.88 | -254.64 | -5.03 | 60.21 | -168.81 | -4.03 | 56.94 | -169.01 | -1.21 | 50.21 | -118.45 | -0.46 | 52.58 | -120.81 | 0.13 | 18.18 | -65.79 | 3.91 | 267.81 | -56.99 | 128.83 | -5.2 | -26.86 | 214.81 | 99.71 | 124.19 | -114.81 | -1607.87 | -2846.72 | 15.32 | -24.9 | 70.03 |
| 22Q2 (14) | 2.43 | -53.18 | -80.79 | -13.53 | -191.59 | -282.1 | -12.64 | -220.81 | -314.24 | -9.36 | -197.14 | -297.47 | -2.43 | -86.92 | -136.49 | -0.97 | -115.56 | -145.12 | 0.11 | -26.67 | -75.56 | -2.33 | -231.64 | -132.01 | 135.89 | -6.8 | -39.07 | 107.56 | -9.42 | -14.76 | -6.72 | 60.89 | 73.99 | 20.40 | 38.87 | 235.53 |
| 22Q1 (13) | 5.19 | -61.44 | -68.45 | -4.64 | -168.64 | -145.45 | -3.94 | -165.67 | -138.97 | -3.15 | -165.76 | -138.89 | -1.30 | -121.78 | -114.27 | -0.45 | -121.43 | -113.55 | 0.15 | -65.91 | -63.41 | 1.77 | -76.8 | -84.69 | 145.81 | -25.07 | -26.79 | 118.75 | 5.29 | 17.6 | -17.19 | -37.95 | -1653.12 | 14.69 | 300.27 | 56.44 |
| 21Q4 (12) | 13.46 | 6.49 | -24.04 | 6.76 | -3.57 | -41.37 | 6.00 | -17.92 | -41.52 | 4.79 | -17.98 | -37.3 | 5.97 | -8.99 | -38.52 | 2.10 | -4.98 | -46.84 | 0.44 | 15.79 | -15.38 | 7.63 | -16.06 | -32.89 | 194.59 | 10.47 | 26.63 | 112.79 | 17.71 | 0.45 | -12.46 | -398.06 | -1.42 | 3.67 | -59.27 | -54.91 |
| 21Q3 (11) | 12.64 | -0.08 | -23.16 | 7.01 | -5.65 | -28.18 | 7.31 | 23.9 | -18.69 | 5.84 | 23.21 | -18.89 | 6.56 | -1.5 | -17.28 | 2.21 | 2.79 | -36.31 | 0.38 | -15.56 | -20.83 | 9.09 | 24.86 | -11.66 | 176.14 | -21.02 | 27.06 | 95.82 | -24.07 | -11.64 | 4.18 | 116.17 | 147.77 | 9.01 | 48.19 | 14.78 |
| 21Q2 (10) | 12.65 | -23.1 | -31.7 | 7.43 | -27.23 | -27.37 | 5.90 | -41.64 | -32.34 | 4.74 | -41.48 | -32.29 | 6.66 | -26.89 | 66.5 | 2.15 | -35.24 | 6.44 | 0.45 | 9.76 | 60.71 | 7.28 | -37.02 | -34.77 | 223.01 | 11.98 | 84.95 | 126.19 | 24.97 | 7.79 | -25.85 | -2536.73 | -51.41 | 6.08 | -35.25 | -44.47 |
| 21Q1 (9) | 16.45 | -7.17 | -1.38 | 10.21 | -11.45 | 51.48 | 10.11 | -1.46 | 28.46 | 8.10 | 6.02 | 28.57 | 9.11 | -6.18 | 254.47 | 3.32 | -15.95 | 138.85 | 0.41 | -21.15 | 95.24 | 11.56 | 1.67 | 3.49 | 199.16 | 29.6 | 128.81 | 100.98 | -10.07 | 17.99 | -0.98 | 92.02 | -106.8 | 9.39 | 15.36 | -22.78 |
| 20Q4 (8) | 17.72 | 7.72 | -22.04 | 11.53 | 18.14 | -5.02 | 10.26 | 14.13 | 1.68 | 7.64 | 6.11 | -12.39 | 9.71 | 22.45 | 77.51 | 3.95 | 13.83 | 46.3 | 0.52 | 8.33 | 73.33 | 11.37 | 10.5 | -7.41 | 153.67 | 10.85 | 53.61 | 112.28 | 3.55 | -6.65 | -12.28 | -40.39 | 39.43 | 8.14 | 3.69 | 0 |
| 20Q3 (7) | 16.45 | -11.18 | -18.08 | 9.76 | -4.59 | 0.72 | 8.99 | 3.1 | -11.78 | 7.20 | 2.86 | -7.22 | 7.93 | 98.25 | 46.31 | 3.47 | 71.78 | 32.95 | 0.48 | 71.43 | 45.45 | 10.29 | -7.8 | -15.72 | 138.63 | 14.97 | 19.06 | 108.44 | -7.38 | 14.01 | -8.75 | 48.75 | -278.98 | 7.85 | -28.31 | -17.63 |
| 20Q2 (6) | 18.52 | 11.03 | 8.43 | 10.23 | 51.78 | 134.63 | 8.72 | 10.8 | 7.52 | 7.00 | 11.11 | 21.53 | 4.00 | 55.64 | 45.45 | 2.02 | 45.32 | 50.75 | 0.28 | 33.33 | 27.27 | 11.16 | -0.09 | 3.33 | 120.58 | 38.53 | 8.55 | 117.07 | 36.79 | 118.42 | -17.07 | -218.45 | -136.8 | 10.95 | -9.95 | -7.36 |
| 20Q1 (5) | 16.68 | -26.62 | -11.89 | 6.74 | -44.48 | -12.13 | 7.87 | -22.0 | -10.77 | 6.30 | -27.75 | -84.46 | 2.57 | -53.02 | -33.25 | 1.39 | -48.52 | -16.27 | 0.21 | -30.0 | -25.0 | 11.17 | -9.04 | 3.33 | 87.04 | -12.99 | -27.08 | 85.59 | -28.85 | -1.88 | 14.41 | 171.07 | 12.81 | 12.16 | 0 | -1.54 |
| 19Q4 (4) | 22.73 | 13.2 | 0.0 | 12.14 | 25.28 | 0.0 | 10.09 | -0.98 | 0.0 | 8.72 | 12.37 | 0.0 | 5.47 | 0.92 | 0.0 | 2.70 | 3.45 | 0.0 | 0.30 | -9.09 | 0.0 | 12.28 | 0.57 | 0.0 | 100.04 | -14.08 | 0.0 | 120.28 | 26.47 | 0.0 | -20.28 | -514.88 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 20.08 | 17.56 | 0.0 | 9.69 | 122.25 | 0.0 | 10.19 | 25.65 | 0.0 | 7.76 | 34.72 | 0.0 | 5.42 | 97.09 | 0.0 | 2.61 | 94.78 | 0.0 | 0.33 | 50.0 | 0.0 | 12.21 | 13.06 | 0.0 | 116.44 | 4.83 | 0.0 | 95.11 | 77.45 | 0.0 | 4.89 | -89.46 | 0.0 | 9.53 | -19.37 | 0.0 |
| 19Q2 (2) | 17.08 | -9.77 | 0.0 | 4.36 | -43.16 | 0.0 | 8.11 | -8.05 | 0.0 | 5.76 | -85.79 | 0.0 | 2.75 | -28.57 | 0.0 | 1.34 | -19.28 | 0.0 | 0.22 | -21.43 | 0.0 | 10.80 | -0.09 | 0.0 | 111.08 | -6.94 | 0.0 | 53.60 | -38.55 | 0.0 | 46.40 | 263.13 | 0.0 | 11.82 | -4.29 | 0.0 |
| 19Q1 (1) | 18.93 | 0.0 | 0.0 | 7.67 | 0.0 | 0.0 | 8.82 | 0.0 | 0.0 | 40.54 | 0.0 | 0.0 | 3.85 | 0.0 | 0.0 | 1.66 | 0.0 | 0.0 | 0.28 | 0.0 | 0.0 | 10.81 | 0.0 | 0.0 | 119.37 | 0.0 | 0.0 | 87.22 | 0.0 | 0.0 | 12.78 | 0.0 | 0.0 | 12.35 | 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) | 16.64 | 389.41 | 7.15 | 0 | 5.26 | -31.21 | 6.23 | 0 | 4.64 | 0 | 8.48 | 0 | 3.97 | 0 | 0.79 | 75.56 | 12.30 | 0 | 141.03 | 16.6 | 114.83 | 7.09 | -14.83 | 0 | 0.67 | -22.12 | 10.27 | -36.41 |
| 2022 (9) | 3.40 | -75.2 | -9.44 | 0 | 7.65 | 434.25 | -8.81 | 0 | -6.58 | 0 | -7.71 | 0 | -2.77 | 0 | 0.45 | -72.89 | -0.26 | 0 | 120.95 | -37.84 | 107.23 | -0.74 | -7.23 | 0 | 0.86 | 74.5 | 16.15 | 136.8 |
| 2021 (8) | 13.71 | -20.89 | 7.76 | -23.62 | 1.43 | -1.29 | 7.18 | -22.88 | 5.75 | -20.47 | 26.36 | 15.61 | 9.63 | -4.75 | 1.66 | 20.29 | 8.74 | -20.33 | 194.59 | 26.63 | 108.04 | -1.03 | -8.04 | 0 | 0.50 | -25.01 | 6.82 | -24.31 |
| 2020 (7) | 17.33 | -12.91 | 10.16 | 15.72 | 1.45 | -16.33 | 9.31 | -0.96 | 7.23 | -55.09 | 22.80 | 22.51 | 10.11 | 21.51 | 1.38 | 21.05 | 10.97 | -5.27 | 153.67 | 53.61 | 109.16 | 16.87 | -9.16 | 0 | 0.66 | -22.73 | 9.01 | -15.48 |
| 2019 (6) | 19.90 | -0.25 | 8.78 | -0.11 | 1.73 | -12.09 | 9.40 | 1.08 | 16.10 | 149.61 | 18.61 | 1.2 | 8.32 | 13.35 | 1.14 | 23.91 | 11.58 | -3.74 | 100.04 | -42.82 | 93.41 | -1.27 | 6.59 | 18.5 | 0.85 | 5.1 | 10.66 | -5.5 |
| 2018 (5) | 19.95 | -10.82 | 8.79 | 17.2 | 1.97 | -3.81 | 9.30 | 37.17 | 6.45 | 26.72 | 18.39 | 62.89 | 7.34 | 41.43 | 0.92 | 2.22 | 12.03 | 21.39 | 174.95 | 10.09 | 94.61 | -14.4 | 5.57 | 0 | 0.81 | 0 | 11.28 | -7.47 |
| 2017 (4) | 22.37 | -8.32 | 7.50 | 145.9 | 2.05 | -21.68 | 6.78 | 82.75 | 5.09 | 81.14 | 11.29 | 160.74 | 5.19 | 100.39 | 0.90 | 36.36 | 9.91 | 22.8 | 158.92 | 19.86 | 110.53 | 34.21 | -10.53 | 0 | 0.00 | 0 | 12.19 | -21.71 |
| 2016 (3) | 24.40 | 5.45 | 3.05 | -14.8 | 2.62 | 5.2 | 3.71 | -18.46 | 2.81 | -24.05 | 4.33 | -18.61 | 2.59 | -13.38 | 0.66 | 8.2 | 8.07 | -8.61 | 132.59 | -0.1 | 82.35 | 4.27 | 17.65 | -18.51 | 0.00 | 0 | 15.57 | -7.92 |
| 2015 (2) | 23.14 | 16.87 | 3.58 | 7.19 | 2.49 | 10.78 | 4.55 | -5.41 | 3.70 | -8.64 | 5.32 | -13.21 | 2.99 | -10.21 | 0.61 | -7.58 | 8.83 | 5.12 | 132.72 | -6.2 | 78.98 | 14.52 | 21.66 | -28.9 | 0.00 | 0 | 16.91 | 22.71 |
| 2014 (1) | 19.80 | 0 | 3.34 | 0 | 2.25 | -7.71 | 4.81 | 0 | 4.05 | 0 | 6.13 | 0 | 3.33 | 0 | 0.66 | 3.13 | 8.40 | -19.0 | 141.50 | 17.42 | 68.97 | 197.93 | 30.46 | -60.37 | 0.00 | 0 | 13.78 | -8.32 |
