- 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) | 2.52 | -81.62 | -85.88 | -12.85 | -148.55 | -303.65 | -10.33 | 16.56 | -537.71 | -9.42 | 17.3 | -1123.38 | -2.27 | 5.81 | -808.0 | -0.59 | 15.71 | -636.36 | 0.09 | 12.5 | -30.77 | -1.01 | 62.31 | -111.06 | 187.33 | 12.03 | 18.73 | 124.55 | 198.93 | -53.47 | -24.55 | -142.09 | 85.36 | 15.93 | -27.49 | 6.98 |
| 23Q3 (19) | 13.71 | -29.22 | -2.49 | -5.17 | -215.4 | -318.14 | -12.38 | -363.97 | -307.24 | -11.39 | -433.04 | -108.99 | -2.41 | -367.78 | -54.49 | -0.70 | -237.25 | -48.94 | 0.08 | -20.0 | -33.33 | -2.68 | -122.02 | -167.85 | 167.22 | 1.34 | 11.76 | 41.67 | -56.35 | 152.97 | 58.33 | 1183.33 | -67.35 | 21.97 | 44.63 | 51.0 |
| 23Q2 (18) | 19.37 | 1.41 | 47.3 | 4.48 | -2.61 | 722.22 | 4.69 | 14.11 | 225.07 | 3.42 | 9.97 | 187.24 | 0.90 | 12.5 | 187.38 | 0.51 | -1.92 | 250.0 | 0.10 | 0.0 | -9.09 | 12.17 | -1.46 | 277.95 | 165.01 | 3.38 | 14.73 | 95.45 | -14.84 | 388.5 | 4.55 | 137.6 | -94.43 | 15.19 | -9.37 | -9.8 |
| 23Q1 (17) | 19.10 | 7.0 | 76.85 | 4.60 | -27.1 | 170.44 | 4.11 | 74.15 | 134.39 | 3.11 | 503.9 | 128.72 | 0.80 | 420.0 | 136.36 | 0.52 | 372.73 | 155.32 | 0.10 | -23.08 | 0.0 | 12.35 | 35.27 | 473.11 | 159.61 | 1.16 | 35.56 | 112.09 | -58.13 | 106.13 | -12.09 | 92.79 | -126.77 | 16.76 | 12.56 | -9.01 |
| 22Q4 (16) | 17.85 | 26.96 | 11.15 | 6.31 | 166.24 | 7111.11 | 2.36 | 177.63 | 1080.0 | -0.77 | 85.87 | 78.37 | -0.25 | 83.97 | 73.12 | 0.11 | 123.4 | 128.21 | 0.13 | 8.33 | 0.0 | 9.13 | 131.14 | 37.92 | 157.78 | 5.45 | 44.67 | 267.69 | 440.29 | 769.23 | -167.69 | -193.86 | -219.78 | 14.89 | 2.34 | -17.78 |
| 22Q3 (15) | 14.06 | 6.92 | -20.2 | 2.37 | 429.17 | 49.06 | -3.04 | 18.93 | -293.63 | -5.45 | -39.03 | -525.78 | -1.56 | -51.46 | -572.73 | -0.47 | -38.24 | -295.83 | 0.12 | 9.09 | -7.69 | 3.95 | 22.67 | -51.53 | 149.62 | 4.03 | 43.74 | -78.67 | -502.59 | -178.67 | 178.67 | 118.93 | 0 | 14.55 | -13.6 | 10.14 |
| 22Q2 (14) | 13.15 | 21.76 | -34.74 | -0.72 | 88.97 | -119.51 | -3.75 | 68.62 | -167.93 | -3.92 | 63.8 | -162.12 | -1.03 | 53.18 | -165.19 | -0.34 | 63.83 | -136.96 | 0.11 | 10.0 | -15.38 | 3.22 | 197.28 | -73.82 | 143.82 | 22.15 | 56.65 | 19.54 | -64.07 | -71.04 | 81.61 | 80.71 | 144.83 | 16.84 | -8.58 | -6.55 |
| 22Q1 (13) | 10.80 | -32.75 | -57.91 | -6.53 | -7155.56 | -170.22 | -11.95 | -6075.0 | -263.25 | -10.83 | -204.21 | -284.81 | -2.20 | -136.56 | -254.93 | -0.94 | -141.03 | -209.3 | 0.10 | -23.08 | -23.08 | -3.31 | -150.0 | -122.69 | 117.74 | 7.96 | 36.81 | 54.38 | 235.94 | -57.31 | 45.16 | -67.74 | 264.89 | 18.42 | 1.71 | 13.08 |
| 21Q4 (12) | 16.06 | -8.85 | -35.14 | -0.09 | -105.66 | -101.06 | 0.20 | -87.26 | -98.1 | -3.56 | -378.12 | -138.57 | -0.93 | -381.82 | -133.94 | -0.39 | -262.5 | -125.16 | 0.13 | 0.0 | -18.75 | 6.62 | -18.77 | -60.41 | 109.06 | 4.77 | 25.26 | -40.00 | -140.0 | -149.43 | 140.00 | 0 | 633.6 | 18.11 | 37.09 | 40.82 |
| 21Q3 (11) | 17.62 | -12.56 | -26.43 | 1.59 | -56.91 | -86.66 | 1.57 | -71.56 | -85.71 | 1.28 | -79.71 | -84.94 | 0.33 | -79.11 | -87.59 | 0.24 | -73.91 | -84.42 | 0.13 | 0.0 | -23.53 | 8.15 | -33.74 | -52.48 | 104.09 | 13.38 | 16.85 | 100.00 | 48.19 | -7.93 | 0.00 | -100.0 | 100.0 | 13.21 | -26.69 | 16.9 |
| 21Q2 (10) | 20.15 | -21.47 | -7.44 | 3.69 | -60.32 | -48.96 | 5.52 | -24.59 | -47.08 | 6.31 | 7.68 | -30.2 | 1.58 | 11.27 | -38.04 | 0.92 | 6.98 | -42.14 | 0.13 | 0.0 | -18.75 | 12.30 | -15.7 | -31.21 | 91.81 | 6.68 | 12.8 | 67.48 | -47.03 | -2.29 | 33.33 | 221.71 | 9.31 | 18.02 | 10.62 | 0 |
| 21Q1 (9) | 25.66 | 3.63 | 129.31 | 9.30 | 9.15 | 194.42 | 7.32 | -30.42 | 164.61 | 5.86 | -36.51 | 158.72 | 1.42 | -48.18 | 197.26 | 0.86 | -44.52 | 230.3 | 0.13 | -18.75 | 62.5 | 14.59 | -12.74 | 301.93 | 86.06 | -1.16 | 15.45 | 127.39 | 57.43 | 46.9 | -27.39 | -243.52 | -306.22 | 16.29 | 26.67 | -30.03 |
| 20Q4 (8) | 24.76 | 3.38 | 20.31 | 8.52 | -28.52 | 93.64 | 10.52 | -4.28 | 25.84 | 9.23 | 8.59 | 20.5 | 2.74 | 3.01 | 25.69 | 1.55 | 0.65 | 7.64 | 0.16 | -5.88 | 0.0 | 16.72 | -2.51 | 5.29 | 87.07 | -2.26 | 19.5 | 80.92 | -25.5 | 53.58 | 19.08 | 321.54 | -59.66 | 12.86 | 13.81 | -22.76 |
| 20Q3 (7) | 23.95 | 10.01 | 33.06 | 11.92 | 64.87 | 146.79 | 10.99 | 5.37 | 134.83 | 8.50 | -5.97 | 130.35 | 2.66 | 4.31 | 166.0 | 1.54 | -3.14 | 100.0 | 0.17 | 6.25 | 13.33 | 17.15 | -4.08 | 34.19 | 89.08 | 9.45 | 17.52 | 108.61 | 57.28 | 4.48 | -8.61 | -128.25 | -190.01 | 11.30 | 0 | -22.6 |
| 20Q2 (6) | 21.77 | 94.55 | 39.46 | 7.23 | 173.4 | 195.1 | 10.43 | 192.06 | 476.24 | 9.04 | 190.58 | 822.45 | 2.55 | 274.66 | 962.5 | 1.59 | 340.91 | 318.42 | 0.16 | 100.0 | 23.08 | 17.88 | 392.56 | 56.43 | 81.39 | 9.19 | 3.87 | 69.06 | -20.37 | -49.64 | 30.49 | 129.6 | 188.94 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 11.19 | -45.63 | -20.3 | -9.85 | -323.86 | -303.69 | -11.33 | -235.53 | -72.71 | -9.98 | -230.29 | -45.69 | -1.46 | -166.97 | -13.18 | -0.66 | -145.83 | -43.48 | 0.08 | -50.0 | -27.27 | 3.63 | -77.14 | -35.29 | 74.54 | 2.31 | -8.43 | 86.72 | 64.59 | 132.77 | 13.28 | -71.93 | -78.83 | 23.28 | 39.82 | 20.87 |
| 19Q4 (4) | 20.58 | 14.33 | 0.0 | 4.40 | -8.9 | 0.0 | 8.36 | 78.63 | 0.0 | 7.66 | 107.59 | 0.0 | 2.18 | 118.0 | 0.0 | 1.44 | 87.01 | 0.0 | 0.16 | 6.67 | 0.0 | 15.88 | 24.26 | 0.0 | 72.86 | -3.88 | 0.0 | 52.69 | -49.32 | 0.0 | 47.31 | 1692.83 | 0.0 | 16.65 | 14.04 | 0.0 |
| 19Q3 (3) | 18.00 | 15.31 | 0.0 | 4.83 | 97.14 | 0.0 | 4.68 | 158.56 | 0.0 | 3.69 | 276.53 | 0.0 | 1.00 | 316.67 | 0.0 | 0.77 | 102.63 | 0.0 | 0.15 | 15.38 | 0.0 | 12.78 | 11.81 | 0.0 | 75.80 | -3.27 | 0.0 | 103.96 | -24.2 | 0.0 | -2.97 | 91.34 | 0.0 | 14.60 | -2.86 | 0.0 |
| 19Q2 (2) | 15.61 | 11.18 | 0.0 | 2.45 | 200.41 | 0.0 | 1.81 | 127.59 | 0.0 | 0.98 | 114.31 | 0.0 | 0.24 | 118.6 | 0.0 | 0.38 | 182.61 | 0.0 | 0.13 | 18.18 | 0.0 | 11.43 | 103.74 | 0.0 | 78.36 | -3.73 | 0.0 | 137.14 | 268.12 | 0.0 | -34.29 | -154.64 | 0.0 | 15.03 | -21.96 | 0.0 |
| 19Q1 (1) | 14.04 | 0.0 | 0.0 | -2.44 | 0.0 | 0.0 | -6.56 | 0.0 | 0.0 | -6.85 | 0.0 | 0.0 | -1.29 | 0.0 | 0.0 | -0.46 | 0.0 | 0.0 | 0.11 | 0.0 | 0.0 | 5.61 | 0.0 | 0.0 | 81.40 | 0.0 | 0.0 | 37.25 | 0.0 | 0.0 | 62.75 | 0.0 | 0.0 | 19.26 | 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) | 13.81 | -3.56 | -1.99 | 0 | 5.74 | 3.45 | -3.04 | 0 | -3.19 | 0 | -3.21 | 0 | -0.35 | 0 | 0.37 | -21.28 | 5.60 | 43.96 | 187.33 | 18.73 | 65.78 | 0 | 34.60 | -73.63 | 0.55 | -13.33 | 17.29 | 8.27 |
| 2022 (9) | 14.32 | -27.6 | 1.04 | -70.54 | 5.55 | -6.27 | -3.35 | 0 | -4.74 | 0 | -5.13 | 0 | -1.61 | 0 | 0.47 | -7.84 | 3.89 | -62.38 | 157.78 | 44.67 | -31.21 | 0 | 131.21 | 8323.69 | 0.63 | -15.02 | 15.97 | -2.68 |
| 2021 (8) | 19.78 | -9.56 | 3.53 | -47.0 | 5.92 | -9.22 | 3.58 | -53.02 | 2.39 | -62.12 | 2.43 | -61.0 | 1.54 | -61.01 | 0.51 | -7.27 | 10.34 | -32.64 | 109.06 | 25.26 | 98.44 | 12.71 | 1.56 | -87.7 | 0.75 | -11.24 | 16.41 | 8.39 |
| 2020 (7) | 21.87 | 25.98 | 6.66 | 147.58 | 6.52 | -6.45 | 7.62 | 172.14 | 6.31 | 204.83 | 6.23 | 206.9 | 3.95 | 89.0 | 0.55 | -1.79 | 15.35 | 28.88 | 87.07 | 19.5 | 87.34 | -8.95 | 12.66 | 210.88 | 0.84 | -16.92 | 15.14 | -6.54 |
| 2019 (6) | 17.36 | 29.46 | 2.69 | 0 | 6.97 | -17.84 | 2.80 | 0 | 2.07 | 0 | 2.03 | 0 | 2.09 | 0 | 0.56 | 30.23 | 11.91 | 68.46 | 72.86 | -3.46 | 95.93 | -9.16 | 4.07 | 0 | 1.01 | 5.17 | 16.20 | -19.96 |
| 2018 (5) | 13.41 | -40.03 | -3.95 | 0 | 8.49 | 10.72 | -3.74 | 0 | -4.42 | 0 | -3.05 | 0 | -1.15 | 0 | 0.43 | 0.0 | 7.07 | -50.25 | 75.47 | 53.8 | 105.60 | 22.43 | -5.60 | 0 | 0.96 | 0 | 20.24 | 7.77 |
| 2017 (4) | 22.36 | -31.83 | 4.61 | -70.28 | 7.67 | 20.81 | 5.34 | -70.27 | 4.03 | -70.21 | 2.61 | -72.87 | 2.13 | -68.81 | 0.43 | -10.42 | 14.21 | -43.57 | 49.07 | -0.57 | 86.26 | -0.1 | 13.45 | -1.54 | 0.00 | 0 | 18.78 | 6.89 |
| 2016 (3) | 32.80 | -0.15 | 15.51 | -16.88 | 6.35 | 10.62 | 17.96 | -18.44 | 13.53 | -18.54 | 9.62 | -33.29 | 6.83 | -32.78 | 0.48 | -20.0 | 25.18 | -11.12 | 49.35 | 6.54 | 86.34 | 1.89 | 13.66 | -10.48 | 0.00 | 0 | 17.57 | 20.01 |
| 2015 (2) | 32.85 | 4.85 | 18.66 | -0.32 | 5.74 | -3.4 | 22.02 | 20.13 | 16.61 | 19.5 | 14.42 | 3.3 | 10.16 | 2.73 | 0.60 | -11.76 | 28.33 | 13.05 | 46.32 | 3.05 | 84.74 | -17.02 | 15.26 | 0 | 0.00 | 0 | 14.64 | 4.8 |
| 2014 (1) | 31.33 | 0 | 18.72 | 0 | 5.94 | -14.33 | 18.33 | 0 | 13.90 | 0 | 13.96 | 0 | 9.89 | 0 | 0.68 | 3.03 | 25.06 | 21.95 | 44.95 | -11.71 | 102.12 | -13.52 | -2.12 | 0 | 0.00 | 0 | 13.97 | -7.91 |
