- 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) | 15.15 | 0.26 | 31.28 | 3.44 | -31.75 | 151.09 | -3.58 | -156.56 | -280.85 | -4.29 | -194.08 | -450.0 | -2.94 | -190.46 | -476.47 | -1.53 | -187.43 | -565.22 | 0.37 | -2.63 | 8.82 | -0.49 | -105.22 | -115.96 | 89.31 | 3.76 | 5.55 | -97.73 | -223.29 | 32.81 | 197.73 | 853.74 | -19.44 | 13.65 | 10.44 | 1.19 |
| 23Q3 (19) | 15.11 | 5.59 | 19.45 | 5.04 | 51.81 | 242.86 | 6.33 | 130.18 | 87.28 | 4.56 | 183.23 | -2.36 | 3.25 | 231.63 | 4.17 | 1.75 | 212.5 | 8.7 | 0.38 | 18.75 | 11.76 | 9.39 | 44.91 | 20.23 | 86.07 | -8.63 | -9.5 | 79.27 | -33.94 | 86.51 | 20.73 | 203.66 | -63.94 | 12.36 | -13.51 | -8.1 |
| 23Q2 (18) | 14.31 | -1.78 | 7.51 | 3.32 | -27.19 | 186.21 | 2.75 | 189.47 | 9.56 | 1.61 | 1.26 | -15.71 | 0.98 | -7.55 | -23.44 | 0.56 | -8.2 | -17.65 | 0.32 | -11.11 | -5.88 | 6.48 | 49.31 | -5.26 | 94.20 | 12.3 | -6.62 | 120.00 | -76.0 | 148.57 | -20.00 | 94.88 | -136.25 | 14.29 | 3.1 | 4.0 |
| 23Q1 (17) | 14.57 | 26.26 | 15.0 | 4.56 | 232.85 | 533.33 | 0.95 | 201.06 | -56.02 | 1.59 | 303.85 | -5.36 | 1.06 | 307.84 | -10.17 | 0.61 | 365.22 | -3.17 | 0.36 | 5.88 | 0.0 | 4.34 | 41.37 | -28.03 | 83.88 | -0.86 | -7.25 | 500.00 | 443.75 | 1400.0 | -390.91 | -259.26 | -686.36 | 13.86 | 2.74 | 8.79 |
| 22Q4 (16) | 11.54 | -8.77 | -2.12 | 1.37 | -6.8 | -44.08 | -0.94 | -127.81 | -491.67 | -0.78 | -116.7 | -161.9 | -0.51 | -116.35 | -151.52 | -0.23 | -114.29 | -145.1 | 0.34 | 0.0 | -12.82 | 3.07 | -60.69 | -12.78 | 84.61 | -11.04 | -11.59 | -145.45 | -442.25 | -113.22 | 245.45 | 326.88 | 124.55 | 13.49 | 0.3 | 30.34 |
| 22Q3 (15) | 12.65 | -4.96 | 0.4 | 1.47 | 26.72 | 83.75 | 3.38 | 34.66 | 177.05 | 4.67 | 144.5 | 491.14 | 3.12 | 143.75 | 524.0 | 1.61 | 136.76 | 519.23 | 0.34 | 0.0 | 9.68 | 7.81 | 14.18 | 52.24 | 95.11 | -5.72 | -13.72 | 42.50 | -11.96 | -33.89 | 57.50 | 4.22 | 61.0 | 13.45 | -2.11 | 1.05 |
| 22Q2 (14) | 13.31 | 5.05 | -9.88 | 1.16 | 61.11 | -74.28 | 2.51 | 16.2 | -29.1 | 1.91 | 13.69 | -32.98 | 1.28 | 8.47 | -35.03 | 0.68 | 7.94 | -32.67 | 0.34 | -5.56 | -2.86 | 6.84 | 13.43 | -5.66 | 100.88 | 11.54 | 1.91 | 48.28 | 44.83 | -62.07 | 55.17 | -17.24 | 302.3 | 13.74 | 7.85 | 3.7 |
| 22Q1 (13) | 12.67 | 7.46 | 2.92 | 0.72 | -70.61 | -68.14 | 2.16 | 800.0 | 3.35 | 1.68 | 33.33 | 0.6 | 1.18 | 19.19 | -1.67 | 0.63 | 23.53 | 3.28 | 0.36 | -7.69 | 2.86 | 6.03 | 71.31 | 3.97 | 90.44 | -5.5 | -8.8 | 33.33 | -96.97 | -68.97 | 66.67 | 106.67 | 1000.0 | 12.74 | 23.09 | 0.71 |
| 21Q4 (12) | 11.79 | -6.43 | -17.21 | 2.45 | 206.25 | -63.7 | 0.24 | -80.33 | -94.56 | 1.26 | 59.49 | -64.0 | 0.99 | 98.0 | -72.03 | 0.51 | 96.15 | -70.0 | 0.39 | 25.81 | -18.75 | 3.52 | -31.38 | -51.52 | 95.70 | -13.19 | -11.77 | 1100.00 | 1611.11 | 617.8 | -1000.00 | -2900.0 | -1778.05 | 10.35 | -22.24 | 10.46 |
| 21Q3 (11) | 12.60 | -14.69 | -20.35 | 0.80 | -82.26 | -80.0 | 1.22 | -65.54 | -45.29 | 0.79 | -72.28 | -53.8 | 0.50 | -74.62 | -50.5 | 0.26 | -74.26 | -48.0 | 0.31 | -11.43 | 10.71 | 5.13 | -29.24 | -10.47 | 110.24 | 11.36 | -3.05 | 64.29 | -49.49 | -64.64 | 35.71 | 230.95 | 143.65 | 13.31 | 0.45 | -7.38 |
| 21Q2 (10) | 14.77 | 19.98 | 63.75 | 4.51 | 99.56 | 219.63 | 3.54 | 69.38 | 3640.0 | 2.85 | 70.66 | 45.41 | 1.97 | 64.17 | 105.21 | 1.01 | 65.57 | 98.04 | 0.35 | 0.0 | 34.62 | 7.25 | 25.0 | 101.39 | 98.99 | -0.18 | -6.2 | 127.27 | 18.5 | -96.26 | -27.27 | -268.18 | 99.17 | 13.25 | 4.74 | -18.26 |
| 21Q1 (9) | 12.31 | -13.55 | -22.63 | 2.26 | -66.52 | -57.84 | 2.09 | -52.61 | -69.67 | 1.67 | -52.29 | -69.69 | 1.20 | -66.1 | -63.86 | 0.61 | -64.12 | -65.92 | 0.35 | -27.08 | 9.37 | 5.80 | -20.11 | -40.27 | 99.17 | -8.57 | 24.51 | 107.41 | -29.91 | 38.59 | -7.41 | 86.09 | -132.92 | 12.65 | 35.01 | 0 |
| 20Q4 (8) | 14.24 | -9.99 | -9.76 | 6.75 | 68.75 | 65.04 | 4.41 | 97.76 | -10.55 | 3.50 | 104.68 | -13.15 | 3.54 | 250.5 | 30.15 | 1.70 | 240.0 | 21.43 | 0.48 | 71.43 | 41.18 | 7.26 | 26.7 | -5.96 | 108.47 | -4.61 | 18.86 | 153.25 | -15.71 | 85.66 | -53.25 | 34.92 | -404.96 | 9.37 | -34.79 | -32.49 |
| 20Q3 (7) | 15.82 | 75.39 | -7.92 | 4.00 | 206.1 | -37.98 | 2.23 | 2330.0 | -70.58 | 1.71 | -12.76 | -72.2 | 1.01 | 5.21 | -76.4 | 0.50 | -1.96 | -76.08 | 0.28 | 7.69 | -17.65 | 5.73 | 59.17 | -44.42 | 113.71 | 7.75 | 13.39 | 181.82 | -94.65 | 112.86 | -81.82 | 97.52 | -661.04 | 14.37 | -11.35 | 6.84 |
| 20Q2 (6) | 9.02 | -43.31 | -52.73 | -3.77 | -170.34 | -140.93 | -0.10 | -101.45 | -100.98 | 1.96 | -64.43 | -76.8 | 0.96 | -71.08 | -84.57 | 0.51 | -71.51 | -84.45 | 0.26 | -18.75 | -33.33 | 3.60 | -62.92 | -71.34 | 105.53 | 32.49 | -4.7 | 3400.00 | 4287.1 | 3645.31 | -3300.00 | -14766.67 | -35892.31 | 16.21 | 0 | 28.45 |
| 20Q1 (5) | 15.91 | 0.82 | -17.95 | 5.36 | 31.05 | -47.81 | 6.89 | 39.76 | -31.92 | 5.51 | 36.72 | -29.27 | 3.32 | 22.06 | -44.48 | 1.79 | 27.86 | -46.41 | 0.32 | -5.88 | -25.58 | 9.71 | 25.78 | -20.54 | 79.65 | -12.72 | 11.23 | 77.50 | -6.11 | -24.04 | 22.50 | 28.86 | 1765.0 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 15.78 | -8.15 | 0.0 | 4.09 | -36.59 | 0.0 | 4.93 | -34.96 | 0.0 | 4.03 | -34.47 | 0.0 | 2.72 | -36.45 | 0.0 | 1.40 | -33.01 | 0.0 | 0.34 | 0.0 | 0.0 | 7.72 | -25.12 | 0.0 | 91.26 | -8.99 | 0.0 | 82.54 | -3.37 | 0.0 | 17.46 | 19.73 | 0.0 | 13.88 | 3.2 | 0.0 |
| 19Q3 (3) | 17.18 | -9.96 | 0.0 | 6.45 | -29.97 | 0.0 | 7.58 | -25.54 | 0.0 | 6.15 | -27.22 | 0.0 | 4.28 | -31.19 | 0.0 | 2.09 | -36.28 | 0.0 | 0.34 | -12.82 | 0.0 | 10.31 | -17.91 | 0.0 | 100.28 | -9.44 | 0.0 | 85.42 | -5.91 | 0.0 | 14.58 | 58.17 | 0.0 | 13.45 | 6.58 | 0.0 |
| 19Q2 (2) | 19.08 | -1.6 | 0.0 | 9.21 | -10.32 | 0.0 | 10.18 | 0.59 | 0.0 | 8.45 | 8.47 | 0.0 | 6.22 | 4.01 | 0.0 | 3.28 | -1.8 | 0.0 | 0.39 | -9.3 | 0.0 | 12.56 | 2.78 | 0.0 | 110.73 | 54.63 | 0.0 | 90.78 | -11.02 | 0.0 | 9.22 | 782.27 | 0.0 | 12.62 | 10.41 | 0.0 |
| 19Q1 (1) | 19.39 | 0.0 | 0.0 | 10.27 | 0.0 | 0.0 | 10.12 | 0.0 | 0.0 | 7.79 | 0.0 | 0.0 | 5.98 | 0.0 | 0.0 | 3.34 | 0.0 | 0.0 | 0.43 | 0.0 | 0.0 | 12.22 | 0.0 | 0.0 | 71.61 | 0.0 | 0.0 | 102.03 | 0.0 | 0.0 | -1.35 | 0.0 | 0.0 | 11.43 | 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) | 14.80 | 18.02 | 4.12 | 252.14 | 3.03 | -20.96 | 1.63 | -8.94 | 0.88 | -52.94 | 2.38 | -52.78 | 1.42 | -48.92 | 1.44 | 1.41 | 4.94 | -16.84 | 89.31 | 5.55 | 250.63 | 280.42 | -151.90 | 0 | 0.15 | -45.21 | 13.50 | 1.12 |
| 2022 (9) | 12.54 | -2.41 | 1.17 | -54.12 | 3.83 | 14.63 | 1.79 | 2.29 | 1.87 | 13.33 | 5.04 | 6.78 | 2.78 | 15.35 | 1.42 | 0.71 | 5.94 | 10.2 | 84.61 | -11.59 | 65.88 | -54.35 | 34.12 | 0 | 0.27 | -34.1 | 13.35 | 8.36 |
| 2021 (8) | 12.85 | -8.21 | 2.55 | -34.45 | 3.35 | 17.14 | 1.75 | -52.96 | 1.65 | -50.45 | 4.72 | -45.87 | 2.41 | -45.6 | 1.41 | 7.63 | 5.39 | -21.66 | 95.70 | -11.77 | 144.32 | 38.14 | -45.45 | 0 | 0.41 | -20.32 | 12.32 | -2.53 |
| 2020 (7) | 14.00 | -21.96 | 3.89 | -49.08 | 2.86 | 17.51 | 3.72 | -55.29 | 3.33 | -50.22 | 8.72 | -54.63 | 4.43 | -56.61 | 1.31 | -13.82 | 6.88 | -36.18 | 108.47 | 18.86 | 104.47 | 13.6 | -4.47 | 0 | 0.52 | 0 | 12.64 | -1.17 |
| 2019 (6) | 17.94 | 23.05 | 7.64 | 57.2 | 2.43 | -8.8 | 8.32 | 28.0 | 6.69 | 19.46 | 19.22 | 13.93 | 10.21 | 15.5 | 1.52 | -3.8 | 10.78 | 17.56 | 91.26 | 5.21 | 91.96 | 23.17 | 8.04 | -68.28 | 0.00 | 0 | 12.79 | 7.66 |
| 2018 (5) | 14.58 | -15.63 | 4.86 | -40.29 | 2.66 | -3.99 | 6.50 | -31.29 | 5.60 | -30.52 | 16.87 | -36.0 | 8.84 | -34.37 | 1.58 | -5.39 | 9.17 | -25.14 | 86.74 | -9.4 | 74.66 | -13.19 | 25.34 | 81.07 | 0.00 | 0 | 11.88 | 3.57 |
| 2017 (4) | 17.28 | 0.06 | 8.14 | 4.76 | 2.78 | 4.3 | 9.46 | -3.76 | 8.06 | -4.39 | 26.36 | -3.51 | 13.47 | -1.32 | 1.67 | 3.09 | 12.25 | -1.92 | 95.74 | -0.73 | 86.01 | 8.68 | 13.99 | -32.93 | 0.00 | 0 | 11.47 | -6.06 |
| 2016 (3) | 17.27 | 2.19 | 7.77 | 0.65 | 2.66 | 8.18 | 9.83 | 5.7 | 8.43 | 7.53 | 27.32 | 5.6 | 13.65 | 7.06 | 1.62 | 0.0 | 12.49 | 6.03 | 96.44 | -7.75 | 79.14 | -4.78 | 20.86 | 23.55 | 0.00 | 0 | 12.21 | 2.61 |
| 2015 (2) | 16.90 | -6.78 | 7.72 | -1.15 | 2.46 | 15.15 | 9.30 | 2.2 | 7.84 | 4.53 | 25.87 | 14.27 | 12.75 | 12.83 | 1.62 | 8.0 | 11.78 | 4.53 | 104.54 | 2.37 | 83.11 | -3.18 | 16.89 | 19.25 | 0.00 | 0 | 11.90 | -5.93 |
| 2014 (1) | 18.13 | 0 | 7.81 | 0 | 2.14 | -21.22 | 9.10 | 0 | 7.50 | 0 | 22.64 | 0 | 11.30 | 0 | 1.50 | 7.91 | 11.27 | -1.74 | 102.12 | 2.9 | 85.84 | 16.68 | 14.16 | -46.43 | 0.00 | 0 | 12.65 | -3.29 |
