- 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) | 18.04 | -28.01 | -47.47 | 10.70 | -45.3 | -46.12 | 22.49 | 203.55 | 41.98 | 25.52 | 249.59 | 122.3 | 3.14 | 238.33 | 481.48 | 1.90 | 274.31 | 363.41 | 0.07 | 0.0 | 133.33 | 36.65 | 559.27 | -6.6 | 71.62 | -7.47 | -3.66 | 48.00 | 154.26 | -61.0 | 52.00 | -72.41 | 325.33 | 7.69 | 25.24 | -49.74 |
| 23Q3 (19) | 25.06 | 41.9 | -34.88 | 19.56 | 490.94 | -26.85 | -21.72 | -126.39 | -192.58 | -17.06 | -125.36 | -188.3 | -2.27 | -149.56 | -320.39 | -1.09 | -140.67 | -255.71 | 0.07 | 75.0 | 133.33 | -7.98 | -107.43 | -118.98 | 77.40 | -7.46 | 16.02 | -88.46 | -2311.54 | -177.4 | 188.46 | 96.31 | 1419.23 | 6.14 | -52.18 | -47.52 |
| 23Q2 (18) | 17.66 | -18.24 | -70.58 | 3.31 | -72.0 | -92.19 | 82.29 | 152.66 | 160.0 | 67.26 | 145.03 | 134.85 | 4.58 | 68.38 | 269.35 | 2.68 | 61.45 | 230.86 | 0.04 | -33.33 | 33.33 | 107.38 | 139.85 | 106.06 | 83.64 | 3.43 | 32.2 | 4.00 | -88.8 | -97.07 | 96.00 | 49.33 | 364.0 | 12.84 | 43.62 | -21.71 |
| 23Q1 (17) | 21.60 | -37.1 | -41.79 | 11.82 | -40.48 | -9.43 | 32.57 | 105.62 | 2146.21 | 27.45 | 139.11 | 39114.29 | 2.72 | 403.7 | 0 | 1.66 | 304.88 | 1560.0 | 0.06 | 100.0 | 200.0 | 44.77 | 14.09 | 13.26 | 80.87 | 8.78 | 33.78 | 35.71 | -70.98 | -94.05 | 64.29 | 378.57 | 112.86 | 8.94 | -41.57 | -55.32 |
| 22Q4 (16) | 34.34 | -10.76 | -34.86 | 19.86 | -25.73 | -40.72 | 15.84 | -32.48 | -56.16 | 11.48 | -40.58 | -66.65 | 0.54 | -47.57 | -58.14 | 0.41 | -41.43 | -58.59 | 0.03 | 0.0 | 0.0 | 39.24 | -6.68 | -35.98 | 74.34 | 11.44 | 35.95 | 123.08 | 7.69 | 28.94 | -23.08 | -61.54 | -353.85 | 15.30 | 30.77 | -2.42 |
| 22Q3 (15) | 38.48 | -35.9 | -22.48 | 26.74 | -36.93 | -32.03 | 23.46 | -25.88 | -42.25 | 19.32 | -32.54 | -51.31 | 1.03 | -16.94 | -66.45 | 0.70 | -13.58 | -67.89 | 0.03 | 0.0 | -40.0 | 42.05 | -19.31 | -23.28 | 66.71 | 5.44 | 80.79 | 114.29 | -16.19 | 17.07 | -14.29 | 60.71 | -700.0 | 11.70 | -28.66 | 78.63 |
| 22Q2 (14) | 60.03 | 61.76 | 31.59 | 42.40 | 224.9 | 13.76 | 31.65 | 2082.76 | -24.26 | 28.64 | 40814.29 | -29.98 | 1.24 | 0 | -74.59 | 0.81 | 710.0 | -74.92 | 0.03 | 50.0 | -62.5 | 52.11 | 31.82 | -1.9 | 63.27 | 4.67 | -0.09 | 136.36 | -77.27 | 53.41 | -36.36 | 92.73 | -427.27 | 16.40 | -18.04 | 177.97 |
| 22Q1 (13) | 37.11 | -29.61 | 74.39 | 13.05 | -61.04 | 254.99 | 1.45 | -95.99 | 130.02 | 0.07 | -99.8 | 100.96 | 0.00 | -100.0 | 100.0 | 0.10 | -89.9 | 600.0 | 0.02 | -33.33 | 0.0 | 39.53 | -35.5 | -1.17 | 60.45 | 10.55 | 22.72 | 600.00 | 528.57 | 100.0 | -500.00 | -5600.0 | -400.0 | 20.01 | 27.61 | -21.5 |
| 21Q4 (12) | 52.72 | 6.2 | 93.89 | 33.50 | -14.84 | 241.14 | 36.13 | -11.05 | 98.19 | 34.42 | -13.26 | 85.35 | 1.29 | -57.98 | 22.86 | 0.99 | -54.59 | 22.22 | 0.03 | -40.0 | -25.0 | 61.29 | 11.82 | 47.08 | 54.68 | 48.18 | 6.11 | 95.45 | -2.22 | 75.0 | 9.09 | 281.82 | -80.0 | 15.68 | 139.39 | 10.34 |
| 21Q3 (11) | 49.64 | 8.81 | 115.83 | 39.34 | 5.55 | 115.09 | 40.62 | -2.8 | 129.62 | 39.68 | -2.98 | 125.58 | 3.07 | -37.09 | -21.28 | 2.18 | -32.51 | -16.79 | 0.05 | -37.5 | -64.29 | 54.81 | 3.18 | 134.43 | 36.90 | -41.73 | -27.25 | 97.62 | 9.82 | -4.71 | 2.38 | -78.57 | 197.62 | 6.55 | 11.02 | 95.52 |
| 21Q2 (10) | 45.62 | 114.38 | 190.57 | 37.27 | 542.64 | 623.69 | 41.79 | 965.22 | 691.48 | 40.90 | 658.74 | 570.49 | 4.88 | 2423.81 | 533.77 | 3.23 | 16250.0 | 447.46 | 0.08 | 300.0 | 0.0 | 53.12 | 32.8 | 250.63 | 63.33 | 28.56 | 4.49 | 88.89 | -70.37 | -11.11 | 11.11 | 111.11 | 0 | 5.90 | -76.85 | 8.86 |
| 21Q1 (9) | 21.28 | -21.74 | 113.87 | -8.42 | -185.74 | -249.82 | -4.83 | -126.49 | -352.88 | -7.32 | -139.42 | -520.69 | -0.21 | -120.0 | -170.0 | -0.02 | -102.47 | -106.45 | 0.02 | -50.0 | -80.0 | 40.00 | -4.01 | 337.64 | 49.26 | -4.41 | -27.36 | 300.00 | 450.0 | 20.0 | -100.00 | -320.0 | 42.86 | 25.49 | 79.38 | 523.23 |
| 20Q4 (8) | 27.19 | 18.22 | 193.31 | 9.82 | -46.31 | 39.49 | 18.23 | 3.05 | 112.47 | 18.57 | 5.57 | 128.41 | 1.05 | -73.08 | -70.99 | 0.81 | -69.08 | -65.09 | 0.04 | -71.43 | -85.19 | 41.67 | 78.23 | 264.89 | 51.53 | 1.6 | -33.03 | 54.55 | -46.75 | -33.88 | 45.45 | 1963.64 | 159.74 | 14.21 | 324.18 | 564.02 |
| 20Q3 (7) | 23.00 | 46.5 | 162.26 | 18.29 | 255.15 | 413.76 | 17.69 | 235.04 | 613.31 | 17.59 | 188.36 | 714.35 | 3.90 | 406.49 | 712.5 | 2.62 | 344.07 | 571.79 | 0.14 | 75.0 | -6.67 | 23.38 | 54.32 | 268.19 | 50.72 | -16.32 | -6.82 | 102.44 | 2.44 | -26.83 | -2.44 | 0 | 93.9 | 3.35 | -38.19 | -8.22 |
| 20Q2 (6) | 15.70 | 57.79 | 23.14 | 5.15 | -8.36 | 103.56 | 5.28 | 176.44 | 412.62 | 6.10 | 250.57 | 770.33 | 0.77 | 156.67 | 800.0 | 0.59 | 90.32 | 2066.67 | 0.08 | -20.0 | -11.11 | 15.15 | 65.75 | 112.18 | 60.61 | -10.62 | 58.42 | 100.00 | -60.0 | -50.0 | 0.00 | 100.0 | 100.0 | 5.42 | 32.52 | -35.17 |
| 20Q1 (5) | 9.95 | 7.34 | -24.96 | 5.62 | -20.17 | 5209.09 | 1.91 | -77.74 | -47.09 | 1.74 | -78.6 | -40.82 | 0.30 | -91.71 | 25.0 | 0.31 | -86.64 | 47.62 | 0.10 | -62.96 | 66.67 | 9.14 | -19.96 | -13.2 | 67.81 | -11.87 | 72.33 | 250.00 | 203.03 | 0 | -175.00 | -1100.0 | -275.0 | 4.09 | 91.12 | -68.15 |
| 19Q4 (4) | 9.27 | 5.7 | 0.0 | 7.04 | 97.75 | 0.0 | 8.58 | 245.97 | 0.0 | 8.13 | 276.39 | 0.0 | 3.62 | 654.17 | 0.0 | 2.32 | 494.87 | 0.0 | 0.27 | 80.0 | 0.0 | 11.42 | 79.84 | 0.0 | 76.94 | 41.36 | 0.0 | 82.50 | -41.07 | 0.0 | 17.50 | 143.75 | 0.0 | 2.14 | -41.37 | 0.0 |
| 19Q3 (3) | 8.77 | -31.22 | 0.0 | 3.56 | 40.71 | 0.0 | 2.48 | 140.78 | 0.0 | 2.16 | 337.36 | 0.0 | 0.48 | 536.36 | 0.0 | 0.39 | 1400.0 | 0.0 | 0.15 | 66.67 | 0.0 | 6.35 | -11.06 | 0.0 | 54.43 | 42.26 | 0.0 | 140.00 | -30.0 | 0.0 | -40.00 | 60.0 | 0.0 | 3.65 | -56.34 | 0.0 |
| 19Q2 (2) | 12.75 | -3.85 | 0.0 | 2.53 | 2400.0 | 0.0 | 1.03 | -71.47 | 0.0 | -0.91 | -130.95 | 0.0 | -0.11 | -145.83 | 0.0 | -0.03 | -114.29 | 0.0 | 0.09 | 50.0 | 0.0 | 7.14 | -32.19 | 0.0 | 38.26 | -2.77 | 0.0 | 200.00 | 0 | 0.0 | -100.00 | -200.0 | 0.0 | 8.36 | -34.89 | 0.0 |
| 19Q1 (1) | 13.26 | 0.0 | 0.0 | -0.11 | 0.0 | 0.0 | 3.61 | 0.0 | 0.0 | 2.94 | 0.0 | 0.0 | 0.24 | 0.0 | 0.0 | 0.21 | 0.0 | 0.0 | 0.06 | 0.0 | 0.0 | 10.53 | 0.0 | 0.0 | 39.35 | 0.0 | 0.0 | -0.00 | 0.0 | 0.0 | 100.00 | 0.0 | 0.0 | 12.84 | 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) | 21.01 | -50.6 | 12.56 | -52.85 | 12.10 | -34.37 | 20.51 | 2.65 | 19.27 | 16.86 | 8.17 | 196.01 | 5.31 | 166.83 | 0.25 | 150.0 | 35.90 | -16.34 | 71.62 | -3.66 | 61.69 | -53.94 | 38.96 | 0 | 0.76 | -15.05 | 8.32 | -45.19 |
| 2022 (9) | 42.53 | -7.5 | 26.64 | -19.13 | 18.44 | 29.88 | 19.98 | -44.45 | 16.49 | -52.56 | 2.76 | -66.71 | 1.99 | -65.63 | 0.10 | -37.5 | 42.91 | -20.55 | 74.34 | 35.95 | 133.93 | 46.45 | -33.93 | 0 | 0.90 | -18.1 | 15.18 | 54.9 |
| 2021 (8) | 45.98 | 157.45 | 32.94 | 211.93 | 14.20 | 105.86 | 35.97 | 257.2 | 34.76 | 241.12 | 8.29 | 42.44 | 5.79 | 44.03 | 0.16 | -54.29 | 54.01 | 183.52 | 54.68 | 6.11 | 91.45 | -12.83 | 8.55 | 0 | 1.10 | -40.34 | 9.80 | 92.16 |
| 2020 (7) | 17.86 | 82.06 | 10.56 | 105.85 | 6.90 | 119.03 | 10.07 | 71.26 | 10.19 | 92.63 | 5.82 | 22.27 | 4.02 | 23.31 | 0.35 | -37.5 | 19.05 | 96.39 | 51.53 | -33.07 | 104.92 | 20.27 | -4.92 | 0 | 1.84 | 8.09 | 5.10 | 29.77 |
| 2019 (6) | 9.81 | -47.06 | 5.13 | -45.13 | 3.15 | 116.73 | 5.88 | -49.35 | 5.29 | -53.51 | 4.76 | -31.21 | 3.26 | -39.74 | 0.56 | 19.15 | 9.70 | -25.84 | 76.99 | 123.16 | 87.23 | 7.36 | 12.77 | -31.91 | 1.70 | 0 | 3.93 | -46.46 |
| 2018 (5) | 18.53 | 93.63 | 9.35 | 53.03 | 1.45 | 178.21 | 11.61 | 43.33 | 11.38 | 43.87 | 6.92 | -48.97 | 5.41 | -43.29 | 0.47 | -60.83 | 13.08 | 51.74 | 34.50 | 63.27 | 81.25 | 7.18 | 18.75 | -22.5 | 0.00 | 0 | 7.34 | 105.03 |
| 2017 (4) | 9.57 | 11.41 | 6.11 | 0 | 0.52 | -56.48 | 8.10 | 0 | 7.91 | 0 | 13.56 | 0 | 9.54 | 0 | 1.20 | 140.0 | 8.62 | 0 | 21.13 | -79.44 | 75.81 | 866.53 | 24.19 | -73.18 | 0.00 | 0 | 3.58 | -62.28 |
| 2016 (3) | 8.59 | -26.33 | -1.70 | 0 | 1.20 | -70.0 | -20.24 | 0 | -20.25 | 0 | -19.15 | 0 | -9.64 | 0 | 0.50 | 284.62 | -18.00 | 0 | 102.76 | 27.87 | 7.84 | -5.88 | 90.20 | -1.6 | 0.00 | 0 | 9.49 | -70.59 |
| 2015 (2) | 11.66 | 0 | -24.19 | 0 | 4.00 | 41.33 | -287.78 | 0 | -287.76 | 0 | -54.65 | 0 | -37.25 | 0 | 0.13 | -23.53 | -281.33 | 0 | 80.36 | 217.63 | 8.33 | -94.93 | 91.67 | 0 | 0.00 | 0 | 32.27 | 10.25 |
| 2014 (1) | -6.22 | 0 | -43.25 | 0 | 2.83 | -10.85 | -26.63 | 0 | -62.48 | 0 | -14.12 | 0 | -10.29 | 0 | 0.17 | -10.53 | -19.81 | 0 | 25.30 | -33.19 | 164.29 | 115.46 | -64.29 | 0 | 0.00 | 0 | 29.27 | 13.45 |
