- 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) | 10.05 | 277.82 | 6.46 | 0.87 | 112.1 | -49.12 | 0.42 | 110.37 | -71.03 | 3.09 | 177.64 | 89.57 | 0.97 | 184.35 | 86.54 | 0.62 | 247.62 | 63.16 | 0.15 | 7.14 | -6.25 | 7.11 | 121.5 | -7.06 | 102.64 | -0.26 | 7.08 | 204.35 | 15.3 | 73.07 | -108.70 | -39.85 | -501.45 | 9.66 | -9.3 | 5.34 |
| 23Q3 (19) | 2.66 | 62.2 | -77.67 | -7.19 | 10.01 | -497.24 | -4.05 | 46.92 | -176.13 | -3.98 | 48.38 | -178.35 | -1.15 | 48.66 | -165.71 | -0.42 | 56.25 | -142.42 | 0.14 | 0.0 | -22.22 | 3.21 | 797.83 | -70.66 | 102.91 | -3.92 | 9.5 | 177.23 | 68.89 | 419.02 | -77.72 | -1562.4 | -218.02 | 10.65 | 0.19 | 19.66 |
| 23Q2 (18) | 1.64 | -72.53 | -87.59 | -7.99 | -202.65 | -380.35 | -7.63 | -208.91 | -356.9 | -7.71 | -210.89 | -359.6 | -2.24 | -194.74 | -313.33 | -0.96 | -269.23 | -257.38 | 0.14 | -6.67 | -22.22 | -0.46 | -111.11 | -105.46 | 107.11 | 4.19 | 11.18 | 104.94 | -2.3 | 9.68 | -4.68 | 36.88 | -208.12 | 10.63 | 6.94 | 20.11 |
| 23Q1 (17) | 5.97 | -36.76 | -27.28 | -2.64 | -254.39 | 0.75 | -2.47 | -270.34 | -165.59 | -2.48 | -252.15 | -166.67 | -0.76 | -246.15 | -162.07 | -0.26 | -168.42 | -160.0 | 0.15 | -6.25 | -6.25 | 4.14 | -45.88 | -17.03 | 102.80 | 7.25 | 9.59 | 107.41 | -9.03 | -62.74 | -7.41 | 59.01 | 96.06 | 9.94 | 8.4 | 2.37 |
| 22Q4 (16) | 9.44 | -20.74 | 135.41 | 1.71 | -5.52 | 130.76 | 1.45 | -72.74 | 133.11 | 1.63 | -67.91 | 147.38 | 0.52 | -70.29 | 147.27 | 0.38 | -61.62 | 173.08 | 0.16 | -11.11 | -5.88 | 7.65 | -30.07 | 446.43 | 95.85 | 1.99 | 3.47 | 118.07 | 245.78 | -7.12 | -18.07 | -127.44 | 32.37 | 9.17 | 3.03 | -18.92 |
| 22Q3 (15) | 11.91 | -9.91 | 21.65 | 1.81 | -36.49 | 596.15 | 5.32 | 79.12 | 71.61 | 5.08 | 71.04 | 93.89 | 1.75 | 66.67 | 127.27 | 0.99 | 62.3 | 115.22 | 0.18 | 0.0 | 20.0 | 10.94 | 29.93 | 16.01 | 93.98 | -2.45 | 1.73 | 34.15 | -64.31 | 322.89 | 65.85 | 1422.87 | -27.87 | 8.90 | 0.56 | -7.39 |
| 22Q2 (14) | 13.22 | 61.02 | -26.84 | 2.85 | 207.14 | -64.51 | 2.97 | 419.35 | -65.51 | 2.97 | 419.35 | -59.43 | 1.05 | 462.07 | -56.43 | 0.61 | 710.0 | -53.79 | 0.18 | 12.5 | 5.88 | 8.42 | 68.74 | -40.33 | 96.34 | 2.71 | 5.42 | 95.68 | -66.81 | 2.52 | 4.32 | 102.3 | -35.27 | 8.85 | -8.86 | -2.32 |
| 22Q1 (13) | 8.21 | 104.74 | -28.86 | -2.66 | 52.16 | -230.39 | -0.93 | 78.77 | -143.66 | -0.93 | 72.97 | -150.27 | -0.29 | 73.64 | -149.15 | -0.10 | 80.77 | -127.78 | 0.16 | -5.88 | -5.88 | 4.99 | 256.43 | -37.15 | 93.80 | 1.25 | 3.84 | 288.24 | 126.73 | 201.1 | -188.24 | -604.46 | -4504.71 | 9.71 | -14.15 | 4.3 |
| 21Q4 (12) | 4.01 | -59.04 | -54.94 | -5.56 | -2238.46 | -1817.24 | -4.38 | -241.29 | -1464.29 | -3.44 | -231.3 | -1046.67 | -1.10 | -242.86 | -1122.22 | -0.52 | -213.04 | -5300.0 | 0.17 | 13.33 | 6.25 | 1.40 | -85.15 | -75.65 | 92.64 | 0.28 | 0.32 | 127.13 | 1474.4 | 18.65 | -26.72 | -129.27 | 0 | 11.31 | 17.69 | 19.43 |
| 21Q3 (11) | 9.79 | -45.82 | 136.47 | 0.26 | -96.76 | 105.6 | 3.10 | -64.0 | 182.01 | 2.62 | -64.21 | 168.59 | 0.77 | -68.05 | 175.49 | 0.46 | -65.15 | 192.0 | 0.15 | -11.76 | 0.0 | 9.43 | -33.17 | 205.18 | 92.38 | 1.08 | 12.96 | 8.07 | -91.35 | -93.43 | 91.30 | 1266.8 | 497.99 | 9.61 | 6.07 | -7.06 |
| 21Q2 (10) | 18.07 | 56.59 | 125.88 | 8.03 | 293.63 | 1280.88 | 8.61 | 304.23 | 1555.77 | 7.32 | 295.68 | 1563.64 | 2.41 | 308.47 | 1908.33 | 1.32 | 266.67 | 915.38 | 0.17 | 0.0 | 21.43 | 14.11 | 77.71 | 87.38 | 91.39 | 1.17 | 6.52 | 93.32 | -2.51 | 169.24 | 6.68 | 56.32 | -97.15 | 9.06 | -2.69 | 0 |
| 21Q1 (9) | 11.54 | 29.66 | 114.9 | 2.04 | 803.45 | 168.23 | 2.13 | 860.71 | 168.27 | 1.85 | 716.67 | 157.99 | 0.59 | 755.56 | 169.41 | 0.36 | 3500.0 | 190.0 | 0.17 | 6.25 | 13.33 | 7.94 | 38.09 | 104.64 | 90.33 | -2.18 | 9.28 | 95.73 | -10.66 | -0.05 | 4.27 | 0 | 1.14 | 9.31 | -1.69 | 0 |
| 20Q4 (8) | 8.90 | 114.98 | 293.81 | -0.29 | 93.75 | 94.57 | -0.28 | 92.59 | 95.07 | -0.30 | 92.15 | 93.93 | -0.09 | 91.18 | 93.62 | 0.01 | 102.0 | 101.37 | 0.16 | 6.67 | 0.0 | 5.75 | 86.08 | 1050.0 | 92.34 | 12.91 | 17.21 | 107.14 | -12.85 | 13.52 | -0.00 | 100.0 | -100.0 | 9.47 | -8.41 | 10.37 |
| 20Q3 (7) | 4.14 | -48.25 | 4.28 | -4.64 | -582.35 | -5.45 | -3.78 | -826.92 | -8.62 | -3.82 | -968.18 | -19.37 | -1.02 | -950.0 | -15.91 | -0.50 | -484.62 | -16.28 | 0.15 | 7.14 | -6.25 | 3.09 | -58.96 | 6.92 | 81.78 | -4.69 | 3.99 | 122.94 | 191.21 | -2.55 | -22.94 | -109.77 | 12.31 | 10.34 | 0 | 6.16 |
| 20Q2 (6) | 8.00 | 48.98 | -7.83 | -0.68 | 77.26 | -168.69 | 0.52 | 116.67 | 372.73 | 0.44 | 113.79 | 540.0 | 0.12 | 114.12 | 500.0 | 0.13 | 132.5 | 333.33 | 0.14 | -6.67 | -17.65 | 7.53 | 94.07 | 28.5 | 85.80 | 3.8 | 14.04 | -134.78 | -240.73 | -115.26 | 234.78 | 5456.52 | 129.97 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 5.37 | 137.61 | -34.11 | -2.99 | 44.01 | -435.96 | -3.12 | 45.07 | -289.09 | -3.19 | 35.43 | -257.92 | -0.85 | 39.72 | -241.67 | -0.40 | 45.21 | -200.0 | 0.15 | -6.25 | -11.76 | 3.88 | 676.0 | -47.43 | 82.66 | 4.93 | 16.77 | 95.77 | 1.47 | 77.58 | 4.23 | -29.16 | -90.6 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 2.26 | -43.07 | 0.0 | -5.34 | -21.36 | 0.0 | -5.68 | -63.22 | 0.0 | -4.94 | -54.38 | 0.0 | -1.41 | -60.23 | 0.0 | -0.73 | -69.77 | 0.0 | 0.16 | 0.0 | 0.0 | 0.50 | -82.7 | 0.0 | 78.78 | 0.18 | 0.0 | 94.39 | -25.19 | 0.0 | 5.96 | 122.8 | 0.0 | 8.58 | -11.91 | 0.0 |
| 19Q3 (3) | 3.97 | -54.26 | 0.0 | -4.40 | -544.44 | 0.0 | -3.48 | -3263.64 | 0.0 | -3.20 | -3100.0 | 0.0 | -0.88 | -2833.33 | 0.0 | -0.43 | -1533.33 | 0.0 | 0.16 | -5.88 | 0.0 | 2.89 | -50.68 | 0.0 | 78.64 | 4.52 | 0.0 | 126.16 | -85.72 | 0.0 | -26.16 | 96.66 | 0.0 | 9.74 | 8.22 | 0.0 |
| 19Q2 (2) | 8.68 | 6.5 | 0.0 | 0.99 | 11.24 | 0.0 | 0.11 | -93.33 | 0.0 | -0.10 | -104.95 | 0.0 | -0.03 | -105.0 | 0.0 | 0.03 | -92.5 | 0.0 | 0.17 | 0.0 | 0.0 | 5.86 | -20.6 | 0.0 | 75.24 | 6.29 | 0.0 | 883.33 | 1537.85 | 0.0 | -783.33 | -1842.92 | 0.0 | 9.00 | 1.69 | 0.0 |
| 19Q1 (1) | 8.15 | 0.0 | 0.0 | 0.89 | 0.0 | 0.0 | 1.65 | 0.0 | 0.0 | 2.02 | 0.0 | 0.0 | 0.60 | 0.0 | 0.0 | 0.40 | 0.0 | 0.0 | 0.17 | 0.0 | 0.0 | 7.38 | 0.0 | 0.0 | 70.79 | 0.0 | 0.0 | 53.93 | 0.0 | 0.0 | 44.94 | 0.0 | 0.0 | 8.85 | 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) | 5.20 | -51.81 | -4.10 | 0 | 5.79 | 12.87 | -3.34 | 0 | -2.65 | 0 | -3.12 | 0 | -1.03 | 0 | 0.59 | -13.24 | 3.58 | -55.75 | 102.64 | 7.08 | 122.89 | 177.9 | -22.89 | 0 | 0.00 | 0 | 10.20 | 11.6 |
| 2022 (9) | 10.79 | -1.01 | 1.02 | -17.74 | 5.13 | -5.28 | 2.30 | -3.36 | 2.28 | 8.57 | 3.02 | 12.69 | 1.89 | 17.39 | 0.68 | 3.03 | 8.09 | -1.7 | 95.85 | 3.47 | 44.22 | -14.65 | 55.78 | 16.21 | 0.00 | 0 | 9.14 | -7.02 |
| 2021 (8) | 10.90 | 63.42 | 1.24 | 0 | 5.42 | -11.03 | 2.38 | 0 | 2.10 | 0 | 2.68 | 0 | 1.61 | 0 | 0.66 | 13.79 | 8.23 | 62.01 | 92.64 | 0.32 | 51.81 | -59.75 | 48.00 | 0 | 0.00 | 0 | 9.83 | -3.34 |
| 2020 (7) | 6.67 | 13.82 | -2.10 | 0 | 6.09 | 12.32 | -1.63 | 0 | -1.68 | 0 | -1.82 | 0 | -0.74 | 0 | 0.58 | -12.12 | 5.08 | 19.81 | 92.34 | 17.21 | 128.71 | 21.34 | -28.71 | 0 | 0.00 | 0 | 10.17 | 12.5 |
| 2019 (6) | 5.86 | -39.77 | -1.85 | 0 | 5.42 | 18.02 | -1.75 | 0 | -1.46 | 0 | -1.70 | 0 | -0.73 | 0 | 0.66 | -15.38 | 4.24 | -46.46 | 78.78 | 6.89 | 106.08 | 19.87 | -5.80 | 0 | 0.00 | 0 | 9.04 | 11.19 |
| 2018 (5) | 9.73 | -6.8 | 2.46 | -31.28 | 4.60 | -6.21 | 2.78 | -30.15 | 2.22 | -31.9 | 2.94 | -28.47 | 1.97 | -27.31 | 0.78 | 2.63 | 7.92 | -14.93 | 73.70 | 10.83 | 88.49 | -1.67 | 11.51 | 14.97 | 0.00 | 0 | 8.13 | -1.93 |
| 2017 (4) | 10.44 | 22.39 | 3.58 | 104.57 | 4.90 | 12.76 | 3.98 | 163.58 | 3.26 | 105.03 | 4.11 | 118.62 | 2.71 | 97.81 | 0.76 | 4.11 | 9.31 | 49.2 | 66.50 | 3.58 | 89.99 | -22.17 | 10.01 | 0 | 0.00 | 0 | 8.29 | -3.72 |
| 2016 (3) | 8.53 | -21.16 | 1.75 | -52.83 | 4.35 | -0.43 | 1.51 | -63.17 | 1.59 | -60.55 | 1.88 | -56.58 | 1.37 | -54.33 | 0.73 | 4.29 | 6.24 | -29.17 | 64.20 | 8.3 | 115.62 | 27.47 | -15.62 | 0 | 0.00 | 0 | 8.61 | -1.6 |
| 2015 (2) | 10.82 | 64.19 | 3.71 | 0 | 4.36 | -4.87 | 4.10 | 6733.33 | 4.03 | 6616.67 | 4.33 | 7116.67 | 3.00 | 1263.64 | 0.70 | -5.41 | 8.81 | 76.55 | 59.28 | 24.09 | 90.70 | 0 | 9.42 | -99.09 | 0.00 | 0 | 8.75 | 2.46 |
| 2014 (1) | 6.59 | 0 | -0.58 | 0 | 4.59 | -8.92 | 0.06 | 0 | 0.06 | 0 | 0.06 | 0 | 0.22 | 0 | 0.74 | 2.78 | 4.99 | 169.73 | 47.77 | 7.57 | -938.46 | 0 | 1038.46 | 0 | 0.00 | 0 | 8.54 | -2.18 |
