- 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) | 16.72 | 33.23 | 96.71 | 2.18 | 658.97 | 148.88 | 2.17 | 263.16 | 137.41 | 2.99 | 268.93 | 211.15 | 1.42 | 297.22 | 240.59 | 0.68 | 0 | 423.81 | 0.17 | 21.43 | 30.77 | 10.76 | 12.79 | 152.58 | 179.36 | -0.65 | 1.28 | 100.00 | 300.0 | 30.77 | 0.00 | -100.0 | -100.0 | 19.60 | 1.66 | -3.45 |
| 23Q3 (19) | 12.55 | 19.52 | 46.27 | -0.39 | 88.7 | 92.56 | -1.33 | -1230.0 | -107.81 | -1.77 | -14.19 | -342.5 | -0.72 | -22.03 | -380.0 | 0.00 | -100.0 | -100.0 | 0.14 | 7.69 | 0.0 | 9.54 | -17.47 | -5.07 | 180.53 | -7.59 | 0.78 | 25.00 | -98.68 | -96.88 | 62.50 | 103.47 | 108.93 | 19.28 | -8.71 | -10.78 |
| 23Q2 (18) | 10.50 | 496.59 | -39.62 | -3.45 | 73.09 | -249.35 | -0.10 | 99.4 | -101.93 | -1.55 | 86.76 | -127.53 | -0.59 | 84.22 | -126.94 | 0.04 | 103.64 | -95.83 | 0.13 | 18.18 | -7.14 | 11.56 | 470.51 | -23.65 | 195.36 | 7.55 | 8.55 | 1900.00 | 2351.61 | 4242.86 | -1800.00 | -7678.95 | -3300.0 | 21.12 | -7.93 | -9.32 |
| 23Q1 (17) | 1.76 | -79.29 | -89.26 | -12.82 | -187.44 | -506.98 | -16.67 | -187.41 | -506.59 | -11.71 | -335.32 | -421.7 | -3.74 | -270.3 | -329.45 | -1.10 | -423.81 | -241.03 | 0.11 | -15.38 | -31.25 | -3.12 | -173.24 | -124.55 | 181.65 | 2.57 | 3.65 | 77.50 | 1.35 | 1.09 | 23.75 | 0.94 | 1.79 | 22.94 | 13.0 | 22.61 |
| 22Q4 (16) | 8.50 | -0.93 | -49.49 | -4.46 | 14.89 | -241.14 | -5.80 | -806.25 | -336.73 | -2.69 | -572.5 | -267.08 | -1.01 | -573.33 | -246.38 | -0.21 | -250.0 | -153.85 | 0.13 | -7.14 | -18.75 | 4.26 | -57.61 | -61.17 | 177.10 | -1.14 | 2.94 | 76.47 | -90.44 | -40.91 | 23.53 | 103.36 | 180.0 | 20.30 | -6.06 | -12.01 |
| 22Q3 (15) | 8.58 | -50.66 | -57.67 | -5.24 | -326.84 | -180.12 | -0.64 | -112.38 | -108.73 | -0.40 | -107.1 | -109.69 | -0.15 | -106.85 | -108.52 | 0.14 | -85.42 | -81.58 | 0.14 | 0.0 | -12.5 | 10.05 | -33.62 | -33.84 | 179.14 | -0.46 | 5.48 | 800.00 | 1728.57 | 790.91 | -700.00 | -1344.44 | -6960.0 | 21.61 | -7.21 | -6.04 |
| 22Q2 (14) | 17.39 | 6.17 | -14.17 | 2.31 | -26.67 | -74.1 | 5.17 | 26.1 | -35.46 | 5.63 | 54.67 | 24.28 | 2.19 | 34.36 | 14.06 | 0.96 | 23.08 | 20.0 | 0.14 | -12.5 | -12.5 | 15.14 | 19.12 | -2.76 | 179.97 | 2.69 | 2.83 | 43.75 | -42.93 | -60.02 | 56.25 | 141.07 | 596.88 | 23.29 | 24.48 | 24.68 |
| 22Q1 (13) | 16.38 | -2.67 | -19.47 | 3.15 | -0.32 | -67.82 | 4.10 | 67.35 | -58.75 | 3.64 | 126.09 | -42.04 | 1.63 | 136.23 | -35.32 | 0.78 | 100.0 | -25.0 | 0.16 | 0.0 | 6.67 | 12.71 | 15.86 | -27.66 | 175.26 | 1.87 | 2.66 | 76.67 | -40.76 | -22.08 | 23.33 | 179.33 | 1346.67 | 18.71 | -18.9 | -13.02 |
| 21Q4 (12) | 16.83 | -16.97 | -17.66 | 3.16 | -51.68 | -67.76 | 2.45 | -66.58 | -74.07 | 1.61 | -61.02 | -73.61 | 0.69 | -60.8 | -75.18 | 0.39 | -48.68 | -62.86 | 0.16 | 0.0 | -11.11 | 10.97 | -27.78 | -37.03 | 172.04 | 1.3 | 7.08 | 129.41 | 44.12 | 23.7 | -29.41 | -388.24 | -855.88 | 23.07 | 0.3 | 16.87 |
| 21Q3 (11) | 20.27 | 0.05 | -12.74 | 6.54 | -26.68 | -49.26 | 7.33 | -8.49 | -24.12 | 4.13 | -8.83 | -33.06 | 1.76 | -8.33 | -35.77 | 0.76 | -5.0 | -38.71 | 0.16 | 0.0 | -5.88 | 15.19 | -2.44 | -8.44 | 169.83 | -2.96 | 5.67 | 89.80 | -17.95 | -32.38 | 10.20 | 190.14 | 131.12 | 23.00 | 23.13 | 13.64 |
| 21Q2 (10) | 20.26 | -0.39 | -9.55 | 8.92 | -8.89 | -17.25 | 8.01 | -19.42 | -31.24 | 4.53 | -27.87 | -42.15 | 1.92 | -23.81 | -39.81 | 0.80 | -23.08 | -44.06 | 0.16 | 6.67 | 0.0 | 15.57 | -11.38 | -22.15 | 175.01 | 2.51 | 10.37 | 109.43 | 11.23 | 18.55 | -11.32 | -801.89 | -247.17 | 18.68 | -13.16 | 0 |
| 21Q1 (9) | 20.34 | -0.49 | 2.73 | 9.79 | -0.1 | 96.19 | 9.94 | 5.19 | 90.79 | 6.28 | 2.95 | 102.58 | 2.52 | -9.35 | 168.09 | 1.04 | -0.95 | 76.27 | 0.15 | -16.67 | 25.0 | 17.57 | 0.86 | 5.15 | 170.72 | 6.26 | 4.71 | 98.39 | -5.95 | 3.07 | 1.61 | 152.42 | -64.52 | 21.51 | 8.97 | -4.06 |
| 20Q4 (8) | 20.44 | -12.01 | 3.81 | 9.80 | -23.97 | 7.69 | 9.45 | -2.17 | 64.06 | 6.10 | -1.13 | 98.7 | 2.78 | 1.46 | 98.57 | 1.05 | -15.32 | 61.54 | 0.18 | 5.88 | 0.0 | 17.42 | 5.0 | 37.6 | 160.67 | -0.02 | -3.23 | 104.62 | -21.22 | -33.93 | -3.08 | 90.62 | 94.73 | 19.74 | -2.47 | 3.57 |
| 20Q3 (7) | 23.23 | 3.71 | 71.19 | 12.89 | 19.57 | 1768.12 | 9.66 | -17.08 | 961.54 | 6.17 | -21.2 | 2027.59 | 2.74 | -14.11 | 2640.0 | 1.24 | -13.29 | 300.0 | 0.17 | 6.25 | 6.25 | 16.59 | -17.05 | 59.52 | 160.71 | 1.36 | 23.23 | 132.79 | 43.85 | 121.31 | -32.79 | -526.23 | -263.93 | 20.24 | 0 | -7.41 |
| 20Q2 (6) | 22.40 | 13.13 | 41.77 | 10.78 | 116.03 | 104.55 | 11.65 | 123.61 | 44.72 | 7.83 | 152.58 | 25.68 | 3.19 | 239.36 | 35.17 | 1.43 | 142.37 | 9.16 | 0.16 | 33.33 | -5.88 | 20.00 | 19.69 | 22.25 | 158.56 | -2.75 | 34.23 | 92.31 | -3.3 | 41.76 | 7.69 | 69.23 | -77.95 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 19.80 | 0.56 | 147.19 | 4.99 | -45.16 | 179.21 | 5.21 | -9.55 | 148.47 | 3.10 | 0.98 | 139.19 | 0.94 | -32.86 | 139.5 | 0.59 | -9.23 | 169.41 | 0.12 | -33.33 | -14.29 | 16.71 | 31.99 | 2287.14 | 163.04 | -1.81 | 40.21 | 95.45 | -39.71 | 62.63 | 4.55 | 107.79 | -89.0 | 22.42 | 17.63 | -12.42 |
| 19Q4 (4) | 19.69 | 45.1 | 0.0 | 9.10 | 1218.84 | 0.0 | 5.76 | 532.97 | 0.0 | 3.07 | 958.62 | 0.0 | 1.40 | 1300.0 | 0.0 | 0.65 | 109.68 | 0.0 | 0.18 | 12.5 | 0.0 | 12.66 | 21.73 | 0.0 | 166.04 | 27.32 | 0.0 | 158.33 | 163.89 | 0.0 | -58.33 | -391.67 | 0.0 | 19.06 | -12.81 | 0.0 |
| 19Q3 (3) | 13.57 | -14.11 | 0.0 | 0.69 | -86.91 | 0.0 | 0.91 | -88.7 | 0.0 | 0.29 | -95.35 | 0.0 | 0.10 | -95.76 | 0.0 | 0.31 | -76.34 | 0.0 | 0.16 | -5.88 | 0.0 | 10.40 | -36.43 | 0.0 | 130.41 | 10.4 | 0.0 | 60.00 | -7.86 | 0.0 | 20.00 | -42.67 | 0.0 | 21.86 | -1.0 | 0.0 |
| 19Q2 (2) | 15.80 | 97.25 | 0.0 | 5.27 | 183.65 | 0.0 | 8.05 | 174.88 | 0.0 | 6.23 | 178.76 | 0.0 | 2.36 | 199.16 | 0.0 | 1.31 | 254.12 | 0.0 | 0.17 | 21.43 | 0.0 | 16.36 | 2237.14 | 0.0 | 118.13 | 1.59 | 0.0 | 65.12 | 10.94 | 0.0 | 34.88 | -15.54 | 0.0 | 22.08 | -13.75 | 0.0 |
| 19Q1 (1) | 8.01 | 0.0 | 0.0 | -6.30 | 0.0 | 0.0 | -10.75 | 0.0 | 0.0 | -7.91 | 0.0 | 0.0 | -2.38 | 0.0 | 0.0 | -0.85 | 0.0 | 0.0 | 0.14 | 0.0 | 0.0 | 0.70 | 0.0 | 0.0 | 116.28 | 0.0 | 0.0 | 58.70 | 0.0 | 0.0 | 41.30 | 0.0 | 0.0 | 25.60 | 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) | 11.08 | -14.37 | -2.93 | 0 | 8.05 | 6.47 | -3.18 | 0 | -2.35 | 0 | -3.62 | 0 | -0.40 | 0 | 0.55 | -5.17 | 7.75 | -27.91 | 179.36 | 1.28 | 93.15 | 0 | 8.22 | -95.62 | 0.20 | -16.13 | 20.57 | -1.53 |
| 2022 (9) | 12.94 | -33.23 | -0.82 | 0 | 7.56 | 12.75 | 0.94 | -86.26 | 1.70 | -58.33 | 2.73 | -59.56 | 1.71 | -42.62 | 0.58 | -6.45 | 10.75 | -27.22 | 177.10 | 2.94 | -87.50 | 0 | 187.50 | 0 | 0.23 | -6.15 | 20.89 | -3.24 |
| 2021 (8) | 19.38 | -10.11 | 7.02 | -29.87 | 6.70 | -5.56 | 6.84 | -26.21 | 4.08 | -32.0 | 6.75 | -27.88 | 2.98 | -27.85 | 0.62 | 5.08 | 14.77 | -16.46 | 172.04 | 7.08 | 102.78 | -4.82 | -2.78 | 0 | 0.25 | 27.4 | 21.59 | 4.15 |
| 2020 (7) | 21.56 | 45.48 | 10.01 | 240.48 | 7.10 | -2.24 | 9.27 | 417.88 | 6.00 | 525.0 | 9.36 | 554.55 | 4.13 | 203.68 | 0.59 | -4.84 | 17.68 | 66.01 | 160.67 | -3.23 | 107.98 | -32.73 | -7.98 | 0 | 0.20 | 2.09 | 20.73 | -5.13 |
| 2019 (6) | 14.82 | -20.49 | 2.94 | -57.08 | 7.26 | 28.16 | 1.79 | -71.59 | 0.96 | -76.92 | 1.43 | -79.45 | 1.36 | -67.7 | 0.62 | -23.46 | 10.65 | -20.11 | 166.04 | 43.1 | 160.53 | 48.1 | -63.16 | 0 | 0.19 | -0.91 | 21.85 | -0.68 |
| 2018 (5) | 18.64 | -9.12 | 6.85 | -0.29 | 5.67 | -3.8 | 6.30 | 51.08 | 4.16 | 205.88 | 6.96 | 223.72 | 4.21 | 140.57 | 0.81 | 3.85 | 13.33 | 18.59 | 116.03 | 17.65 | 108.39 | -34.12 | -9.03 | 0 | 0.19 | 0 | 22.00 | 4.81 |
| 2017 (4) | 20.51 | 36.19 | 6.87 | 467.77 | 5.89 | -20.38 | 4.17 | 0 | 1.36 | 0 | 2.15 | 0 | 1.75 | 0 | 0.78 | 8.33 | 11.24 | 31.62 | 98.62 | -9.54 | 164.52 | 0 | -64.52 | 0 | 0.00 | 0 | 20.99 | -8.66 |
| 2016 (3) | 15.06 | 0.6 | 1.21 | 61.33 | 7.40 | -0.19 | -0.51 | 0 | -1.91 | 0 | -3.20 | 0 | -0.48 | 0 | 0.72 | 5.88 | 8.54 | 11.63 | 109.02 | -33.14 | -230.00 | 0 | 330.00 | 120.0 | 0.00 | 0 | 22.98 | 10.8 |
| 2015 (2) | 14.97 | -6.85 | 0.75 | -74.75 | 7.41 | 33.65 | -1.39 | 0 | -0.71 | 0 | -1.17 | 0 | 0.33 | -89.49 | 0.68 | -12.82 | 7.65 | -23.19 | 163.05 | 32.63 | -54.17 | 0 | 150.00 | 883.33 | 0.00 | 0 | 20.74 | 6.09 |
| 2014 (1) | 16.07 | 0 | 2.97 | 0 | 5.55 | -17.56 | 3.49 | 0 | 3.34 | 0 | 5.35 | 0 | 3.14 | 0 | 0.78 | 0.0 | 9.96 | -12.17 | 122.94 | 44.06 | 84.75 | -11.86 | 15.25 | 164.41 | 0.00 | 0 | 19.55 | -6.05 |
