- 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) | 28.82 | 8.55 | -22.53 | 30.12 | 292.71 | 114.8 | -83.68 | -165.0 | 68.77 | -83.74 | -164.84 | 68.74 | -6.25 | -206.84 | 44.84 | -1.97 | -180.74 | 66.03 | 0.03 | 50.0 | 50.0 | -67.33 | -144.16 | 72.97 | 189.24 | 7.22 | 75.89 | -35.71 | -182.14 | -146.8 | 135.71 | 21.83 | 457.53 | -8.86 | -132.97 | -180.69 |
| 23Q3 (19) | 26.55 | 56.18 | 39.96 | -15.63 | -858.9 | 27.44 | 128.73 | 770.97 | 1254.53 | 129.15 | 790.69 | 1258.3 | 5.85 | 314.89 | 571.77 | 2.44 | 201.23 | 481.25 | 0.02 | -50.0 | -71.43 | 152.46 | 519.76 | 2774.74 | 176.50 | 18.99 | 137.45 | -12.66 | -20.25 | -106.7 | 111.39 | 0.78 | 225.32 | 26.87 | 87.51 | 286.62 |
| 23Q2 (18) | 17.00 | -65.52 | -39.61 | -1.63 | -105.65 | -110.9 | 14.78 | -39.3 | -48.16 | 14.50 | -40.45 | -47.71 | 1.41 | -29.15 | -43.15 | 0.81 | -28.32 | -51.79 | 0.04 | 0.0 | -33.33 | 24.60 | -30.86 | -29.0 | 148.33 | 25.83 | 170.18 | -10.53 | -108.77 | -119.94 | 110.53 | 652.63 | 134.06 | 14.33 | 50.84 | 117.78 |
| 23Q1 (17) | 49.31 | 32.55 | 396.58 | 28.85 | 114.18 | 993.19 | 24.35 | 109.09 | 179.24 | 24.35 | 109.09 | 212.98 | 1.99 | 117.56 | 155.13 | 1.13 | 119.48 | 101.79 | 0.04 | 100.0 | -33.33 | 35.58 | 114.28 | 150.92 | 117.88 | 9.56 | 99.12 | 120.00 | 57.24 | 388.0 | -20.00 | -182.16 | -114.12 | 9.50 | -13.48 | 47.06 |
| 22Q4 (16) | 37.20 | 96.1 | 2396.64 | -203.50 | -844.75 | -597.63 | -267.91 | -2302.78 | -168.71 | -267.84 | -2302.15 | -169.92 | -11.33 | -813.71 | -136.93 | -5.80 | -806.25 | -135.17 | 0.02 | -71.43 | -50.0 | -249.12 | -4270.53 | -162.8 | 107.59 | 44.75 | 46.26 | 76.32 | -59.6 | 1139.07 | 24.34 | 127.38 | -77.32 | 10.98 | 57.99 | -47.66 |
| 22Q3 (15) | 18.97 | -32.61 | -29.74 | -21.54 | -244.08 | -254.52 | -11.15 | -139.11 | -175.54 | -11.15 | -140.21 | -201.09 | -1.24 | -150.0 | -171.26 | -0.64 | -138.1 | -167.37 | 0.07 | 16.67 | -12.5 | -5.70 | -116.45 | -129.13 | 74.33 | 35.39 | -31.81 | 188.89 | 257.89 | 98.83 | -88.89 | -288.24 | -1877.78 | 6.95 | 5.62 | 47.56 |
| 22Q2 (14) | 28.15 | 183.48 | 19.33 | 14.95 | 562.85 | 76.92 | 28.51 | 226.95 | 352.54 | 27.73 | 256.43 | 490.0 | 2.48 | 217.95 | 169.57 | 1.68 | 200.0 | 189.66 | 0.06 | 0.0 | -40.0 | 34.65 | 144.36 | 206.37 | 54.90 | -7.26 | -49.13 | 52.78 | 226.67 | -58.53 | 47.22 | -66.67 | 229.86 | 6.58 | 1.86 | 56.67 |
| 22Q1 (13) | 9.93 | 566.44 | -41.0 | -3.23 | 88.93 | -144.01 | 8.72 | -97.76 | 250.2 | 7.78 | -97.97 | 235.34 | 0.78 | -97.46 | 178.57 | 0.56 | -96.6 | 124.0 | 0.06 | 50.0 | 0.0 | 14.18 | -96.43 | 110.7 | 59.20 | -19.52 | -39.19 | -41.67 | -467.31 | -115.62 | 141.67 | 31.97 | 185.0 | 6.46 | -69.21 | 2.22 |
| 21Q4 (12) | 1.49 | -94.48 | -92.66 | -29.17 | -309.25 | -2031.79 | 389.91 | 2541.67 | 3409.93 | 383.04 | 3372.71 | 3544.6 | 30.68 | 1663.22 | 4546.38 | 16.49 | 1635.79 | 5419.35 | 0.04 | -50.0 | 0.0 | 396.70 | 1927.08 | 7108.83 | 73.56 | -32.52 | -12.16 | -7.34 | -107.73 | 55.93 | 107.34 | 2046.89 | -7.99 | 20.98 | 345.44 | 98.3 |
| 21Q3 (11) | 27.00 | 14.46 | 58.45 | 13.94 | 64.97 | 151.17 | 14.76 | 134.29 | 177.93 | 11.03 | 134.68 | 156.91 | 1.74 | 89.13 | 196.67 | 0.95 | 63.79 | 191.35 | 0.08 | -20.0 | 33.33 | 19.57 | 73.03 | 232.14 | 109.01 | 1.01 | 77.28 | 95.00 | -25.36 | 456.25 | 5.00 | 113.75 | -96.25 | 4.71 | 12.14 | -34.58 |
| 21Q2 (10) | 23.59 | 40.17 | 557.1 | 8.45 | 15.12 | 503.57 | 6.30 | 153.01 | 68.9 | 4.70 | 102.59 | 26.01 | 0.92 | 228.57 | -41.77 | 0.58 | 132.0 | -47.27 | 0.10 | 66.67 | -62.96 | 11.31 | 68.05 | 132.72 | 107.92 | 10.86 | 81.53 | 127.27 | -52.27 | 256.36 | -36.36 | 78.18 | -156.57 | 4.20 | -33.54 | 0 |
| 21Q1 (9) | 16.83 | -17.05 | 153.85 | 7.34 | 386.09 | 106.76 | 2.49 | 121.14 | 611.43 | 2.32 | 120.86 | 562.86 | 0.28 | 140.58 | 115.38 | 0.25 | 180.65 | 38.89 | 0.06 | 50.0 | -73.91 | 6.73 | 218.9 | 351.68 | 97.35 | 16.25 | 69.07 | 266.67 | 1700.0 | -77.78 | -166.67 | -242.86 | 84.85 | 6.32 | -40.26 | 216.0 |
| 20Q4 (8) | 20.29 | 19.07 | 292.46 | 1.51 | -72.79 | -45.09 | -11.78 | 37.8 | -612.17 | -11.12 | 42.62 | -583.48 | -0.69 | 61.67 | -163.3 | -0.31 | 70.19 | -139.24 | 0.04 | -33.33 | -87.1 | -5.66 | 61.78 | -269.97 | 83.74 | 36.18 | 23.46 | -16.67 | 37.5 | -113.89 | 116.67 | -12.5 | 683.33 | 10.58 | 46.94 | 0 |
| 20Q3 (7) | 17.04 | 374.65 | 53.1 | 5.55 | 296.43 | 8.4 | -18.94 | -607.77 | -584.4 | -19.38 | -619.57 | -595.65 | -1.80 | -213.92 | -302.25 | -1.04 | -194.55 | -255.22 | 0.06 | -77.78 | -57.14 | -14.81 | -404.73 | -331.41 | 61.49 | 3.43 | 52.77 | -26.67 | -174.67 | -120.74 | 133.33 | 107.41 | 566.67 | 7.20 | 0 | 132.26 |
| 20Q2 (6) | 3.59 | -45.85 | -68.0 | 1.40 | -60.56 | -83.19 | 3.73 | 965.71 | -56.12 | 3.73 | 965.71 | -56.53 | 1.58 | 1115.38 | -61.27 | 1.10 | 511.11 | -51.11 | 0.27 | 17.39 | 12.5 | 4.86 | 226.17 | -51.74 | 59.45 | 3.25 | -37.84 | 35.71 | -97.02 | -62.8 | 64.29 | 105.84 | 0 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 6.63 | 28.24 | -38.78 | 3.55 | 29.09 | -53.78 | 0.35 | -84.78 | -92.55 | 0.35 | -84.78 | -92.41 | 0.13 | -88.07 | -93.78 | 0.18 | -77.22 | -85.25 | 0.23 | -25.81 | 0.0 | 1.49 | -55.26 | -76.79 | 57.58 | -15.11 | -38.13 | 1200.00 | 900.0 | 620.0 | -1100.00 | -5400.0 | -1550.0 | 2.00 | 0 | 34.23 |
| 19Q4 (4) | 5.17 | -53.55 | 0.0 | 2.75 | -46.29 | 0.0 | 2.30 | -41.18 | 0.0 | 2.30 | -41.18 | 0.0 | 1.09 | 22.47 | 0.0 | 0.79 | 17.91 | 0.0 | 0.31 | 121.43 | 0.0 | 3.33 | -47.97 | 0.0 | 67.83 | 68.52 | 0.0 | 120.00 | -6.67 | 0.0 | -20.00 | 30.0 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 11.13 | -0.8 | 0.0 | 5.12 | -38.54 | 0.0 | 3.91 | -54.0 | 0.0 | 3.91 | -54.43 | 0.0 | 0.89 | -78.19 | 0.0 | 0.67 | -70.22 | 0.0 | 0.14 | -41.67 | 0.0 | 6.40 | -36.44 | 0.0 | 40.25 | -57.92 | 0.0 | 128.57 | 33.93 | 0.0 | -28.57 | 0 | 0.0 | 3.10 | 85.63 | 0.0 |
| 19Q2 (2) | 11.22 | 3.6 | 0.0 | 8.33 | 8.46 | 0.0 | 8.50 | 80.85 | 0.0 | 8.58 | 86.12 | 0.0 | 4.08 | 95.22 | 0.0 | 2.25 | 84.43 | 0.0 | 0.24 | 4.35 | 0.0 | 10.07 | 56.85 | 0.0 | 95.64 | 2.77 | 0.0 | 96.00 | -42.4 | 0.0 | 0.00 | 100.0 | 0.0 | 1.67 | 12.08 | 0.0 |
| 19Q1 (1) | 10.83 | 0.0 | 0.0 | 7.68 | 0.0 | 0.0 | 4.70 | 0.0 | 0.0 | 4.61 | 0.0 | 0.0 | 2.09 | 0.0 | 0.0 | 1.22 | 0.0 | 0.0 | 0.23 | 0.0 | 0.0 | 6.42 | 0.0 | 0.0 | 93.06 | 0.0 | 0.0 | 166.67 | 0.0 | 0.0 | -66.67 | 0.0 | 0.0 | 1.49 | 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) | 30.12 | 44.18 | 12.44 | 0 | 4.85 | 11.25 | 9.81 | 0 | 9.77 | 0 | 2.98 | 0 | 2.09 | 0 | 0.12 | -36.84 | 23.72 | 0 | 189.24 | 75.89 | 128.95 | 15.58 | -26.32 | 0 | 0.00 | 0 | 9.05 | 26.04 |
| 2022 (9) | 20.89 | 9.26 | -28.04 | 0 | 4.36 | 45.23 | -25.18 | 0 | -25.65 | 0 | -9.33 | 0 | -4.48 | 0 | 0.19 | -24.0 | -17.84 | 0 | 107.59 | 46.26 | 111.57 | 2778.51 | -11.57 | 0 | 0.00 | 0 | 7.18 | -8.18 |
| 2021 (8) | 19.12 | 6.1 | 2.91 | -56.57 | 3.00 | 11.33 | 77.37 | 0 | 74.52 | 0 | 33.24 | 0 | 19.15 | 0 | 0.25 | 13.64 | 82.60 | 2970.63 | 73.56 | -12.16 | 3.88 | 0 | 96.38 | -76.74 | 0.00 | 0 | 7.82 | 10.61 |
| 2020 (7) | 18.02 | -22.26 | 6.70 | -54.51 | 2.69 | 18.56 | -1.97 | 0 | -1.97 | 0 | -0.75 | 0 | -0.08 | 0 | 0.22 | -35.29 | 2.69 | -83.09 | 83.74 | 23.46 | -314.29 | 0 | 414.29 | 0 | 0.00 | 0 | 7.07 | 58.52 |
| 2019 (6) | 23.18 | 0 | 14.73 | 0 | 2.27 | 60.61 | 12.13 | 0 | 12.13 | 0 | 7.26 | 0 | 4.54 | 0 | 0.34 | -20.93 | 15.91 | 0 | 67.83 | -27.58 | 122.64 | 65.16 | -20.75 | 0 | 0.00 | 0 | 4.46 | -60.46 |
| 2018 (5) | -7.50 | 0 | -17.75 | 0 | 1.42 | -15.3 | -23.80 | 0 | -23.80 | 0 | -17.56 | 0 | -9.81 | 0 | 0.43 | -12.24 | -21.23 | 0 | 93.66 | 86.57 | 74.26 | 0 | 25.74 | -74.26 | 0.00 | 0 | 11.28 | 19.37 |
| 2017 (4) | 10.72 | 53.14 | -0.12 | 0 | 1.67 | -27.09 | 2.10 | 0 | 2.10 | 0 | 1.55 | 0 | 1.36 | 0 | 0.49 | -22.22 | 4.53 | 0 | 50.20 | -2.62 | -11.11 | 0 | 100.00 | 41.28 | 0.00 | 0 | 9.45 | 0.96 |
| 2016 (3) | 7.00 | 0 | -7.41 | 0 | 2.29 | -7.34 | -25.20 | 0 | -25.20 | 0 | -25.72 | 0 | -15.54 | 0 | 0.63 | 5.0 | -21.28 | 0 | 51.55 | -25.28 | 29.22 | -65.11 | 70.78 | 335.29 | 0.00 | 0 | 9.36 | -6.02 |
| 2015 (2) | -1.18 | 0 | -15.91 | 0 | 2.47 | 16.33 | -19.08 | 0 | -19.08 | 0 | -17.78 | 0 | -11.03 | 0 | 0.60 | -43.93 | -14.53 | 0 | 68.99 | 54.93 | 83.74 | -13.47 | 16.26 | 404.07 | 0.00 | 0 | 9.96 | 88.28 |
| 2014 (1) | 2.12 | 0 | -5.07 | 0 | 2.13 | 3.07 | -5.25 | 0 | -5.29 | 0 | -7.81 | 0 | -5.26 | 0 | 1.07 | -6.14 | -2.47 | 0 | 44.53 | 27.37 | 96.77 | -3.23 | 3.23 | 0 | 0.00 | 0 | 5.29 | 18.88 |
