- 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) | 12.82 | 19.59 | 105.12 | 2.86 | 155.36 | 206.72 | 1.04 | 296.23 | 119.62 | 0.45 | 145.0 | 108.27 | 0.25 | 148.08 | 108.22 | 0.55 | 103.7 | 201.85 | 0.17 | 6.25 | -5.56 | 8.66 | 21.8 | 192.57 | 216.97 | -8.87 | 7.84 | 275.00 | 230.15 | 443.87 | -175.00 | -156.22 | -452.98 | 4.95 | -9.51 | -1.0 |
| 23Q3 (19) | 10.72 | 24.94 | 59.29 | 1.12 | 311.32 | 137.33 | -0.53 | 80.15 | 88.3 | -1.00 | 63.64 | 73.89 | -0.52 | 63.38 | 74.13 | 0.27 | 2600.0 | 212.5 | 0.16 | 0.0 | -5.88 | 7.11 | 43.35 | 84.2 | 238.08 | 12.93 | 7.56 | -211.29 | -1169.87 | -419.7 | 311.29 | 287.9 | 817.99 | 5.47 | 0.74 | 7.68 |
| 23Q2 (18) | 8.58 | 33.23 | -24.41 | -0.53 | 85.24 | -127.75 | -2.67 | 50.65 | -206.37 | -2.75 | 53.55 | -227.31 | -1.42 | 47.21 | -229.09 | 0.01 | 102.33 | -98.7 | 0.16 | 6.67 | -5.88 | 4.96 | 67.57 | -54.07 | 210.83 | -4.74 | 7.12 | 19.75 | -70.3 | -74.01 | 80.25 | 139.52 | 238.27 | 5.43 | -13.4 | 4.22 |
| 23Q1 (17) | 6.44 | 3.04 | -26.48 | -3.59 | -33.96 | -752.73 | -5.41 | -2.08 | -1083.64 | -5.92 | -8.82 | -9966.67 | -2.69 | 11.51 | -9066.67 | -0.43 | 20.37 | -210.26 | 0.15 | -16.67 | -11.76 | 2.96 | 0.0 | -65.3 | 221.32 | 10.0 | 11.27 | 66.50 | 31.51 | -33.5 | 33.50 | -32.42 | 0 | 6.27 | 25.4 | 26.67 |
| 22Q4 (16) | 6.25 | -7.13 | -56.99 | -2.68 | 10.67 | -148.46 | -5.30 | -17.0 | -271.52 | -5.44 | -42.04 | -290.21 | -3.04 | -51.24 | -286.5 | -0.54 | -125.0 | -156.84 | 0.18 | 5.88 | -10.0 | 2.96 | -23.32 | -69.73 | 201.20 | -9.1 | 8.53 | 50.56 | -23.49 | -71.77 | 49.58 | 46.2 | 162.65 | 5.00 | -1.57 | 20.77 |
| 22Q3 (15) | 6.73 | -40.7 | -56.55 | -3.00 | -257.07 | -145.59 | -4.53 | -280.48 | -203.9 | -3.83 | -277.31 | -224.76 | -2.01 | -282.73 | -214.2 | -0.24 | -131.17 | -123.76 | 0.17 | 0.0 | -19.05 | 3.86 | -64.26 | -64.19 | 221.34 | 12.46 | 22.97 | 66.09 | -13.01 | -56.28 | 33.91 | 42.94 | 166.46 | 5.08 | -2.5 | 23.0 |
| 22Q2 (14) | 11.35 | 29.57 | -36.02 | 1.91 | 247.27 | -78.02 | 2.51 | 356.36 | -66.4 | 2.16 | 3500.0 | -66.77 | 1.10 | 3566.67 | -67.74 | 0.77 | 97.44 | -51.57 | 0.17 | 0.0 | -10.53 | 10.80 | 26.61 | -25.31 | 196.81 | -1.05 | 12.26 | 75.98 | -24.02 | -34.63 | 23.72 | 0 | 246.25 | 5.21 | 5.25 | 14.0 |
| 22Q1 (13) | 8.76 | -39.71 | -53.28 | 0.55 | -90.05 | -94.05 | 0.55 | -82.2 | -90.6 | 0.06 | -97.9 | -98.68 | 0.03 | -98.16 | -98.48 | 0.39 | -58.95 | -64.55 | 0.17 | -15.0 | 13.33 | 8.53 | -12.78 | -43.28 | 198.90 | 7.29 | 6.49 | 100.00 | -44.18 | -36.74 | 0.00 | 100.0 | 100.0 | 4.95 | 19.57 | -11.29 |
| 21Q4 (12) | 14.53 | -6.2 | -18.46 | 5.53 | -15.96 | -31.22 | 3.09 | -29.13 | -40.58 | 2.86 | -6.84 | -28.32 | 1.63 | -7.39 | -24.54 | 0.95 | -5.94 | -15.93 | 0.20 | -4.76 | 11.11 | 9.78 | -9.28 | -24.24 | 185.39 | 3.0 | -2.32 | 179.13 | 18.5 | 15.64 | -79.13 | -55.09 | -44.11 | 4.14 | 0.24 | -14.46 |
| 21Q3 (11) | 15.49 | -12.68 | -3.49 | 6.58 | -24.28 | 4.78 | 4.36 | -41.63 | 25.65 | 3.07 | -52.77 | 14.13 | 1.76 | -48.39 | 19.73 | 1.01 | -36.48 | 12.22 | 0.21 | 10.53 | 23.53 | 10.78 | -25.45 | -8.57 | 179.99 | 2.67 | -17.96 | 151.17 | 30.07 | -16.53 | -51.02 | -214.54 | 37.1 | 4.13 | -9.63 | -6.56 |
| 21Q2 (10) | 17.74 | -5.39 | 43.64 | 8.69 | -6.05 | 543.7 | 7.47 | 27.69 | 1304.84 | 6.50 | 42.86 | 1350.0 | 3.41 | 73.1 | 1520.83 | 1.59 | 44.55 | 354.29 | 0.19 | 26.67 | 35.71 | 14.46 | -3.86 | 55.82 | 175.31 | -6.14 | -18.81 | 116.22 | -26.48 | 152.83 | -16.22 | 72.07 | -105.07 | 4.57 | -18.1 | 0 |
| 21Q1 (9) | 18.75 | 5.22 | 19.35 | 9.25 | 15.05 | 70.35 | 5.85 | 12.5 | 400.0 | 4.55 | 14.04 | 123.04 | 1.97 | -8.8 | 198.48 | 1.10 | -2.65 | 61.76 | 0.15 | -16.67 | 50.0 | 15.04 | 16.5 | -4.93 | 186.77 | -1.6 | -15.2 | 158.08 | 2.05 | -65.8 | -58.08 | -5.77 | 84.02 | 5.58 | 15.29 | 0 |
| 20Q4 (8) | 17.82 | 11.03 | 8.99 | 8.04 | 28.03 | 35.13 | 5.20 | 49.86 | 57.58 | 3.99 | 48.33 | -6.78 | 2.16 | 46.94 | -12.2 | 1.13 | 25.56 | -7.38 | 0.18 | 5.88 | 5.88 | 12.91 | 9.5 | 10.82 | 189.80 | -13.49 | -11.82 | 154.91 | -14.47 | -14.1 | -54.91 | 32.3 | 31.45 | 4.84 | 9.5 | -22.81 |
| 20Q3 (7) | 16.05 | 29.96 | 24.03 | 6.28 | 365.19 | 156.33 | 3.47 | 659.68 | 523.17 | 2.69 | 617.31 | 420.24 | 1.47 | 712.5 | 406.25 | 0.90 | 157.14 | 136.84 | 0.17 | 21.43 | 0.0 | 11.79 | 27.05 | 46.1 | 219.40 | 1.61 | -11.19 | 181.11 | 182.32 | 161.19 | -81.11 | -125.35 | -120.54 | 4.42 | 0 | -17.69 |
| 20Q2 (6) | 12.35 | -21.39 | 0.08 | 1.35 | -75.14 | -43.98 | -0.62 | -152.99 | 42.06 | -0.52 | -125.49 | 17.46 | -0.24 | -136.36 | 27.27 | 0.35 | -48.53 | 0.0 | 0.14 | 40.0 | -12.5 | 9.28 | -41.34 | 23.4 | 215.92 | -1.96 | -5.7 | -220.00 | -147.6 | 2.39 | 320.00 | 188.05 | -1.66 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 15.71 | -3.91 | 19.2 | 5.43 | -8.74 | 33.42 | 1.17 | -64.55 | -29.52 | 2.04 | -52.34 | 55.73 | 0.66 | -73.17 | -1.49 | 0.68 | -44.26 | 6.25 | 0.10 | -41.18 | -37.5 | 15.82 | 35.79 | 53.89 | 220.24 | 2.32 | -2.85 | 462.20 | 156.29 | 88.23 | -363.41 | -353.71 | -149.68 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 16.35 | 26.35 | 0.0 | 5.95 | 142.86 | 0.0 | 3.30 | 502.44 | 0.0 | 4.28 | 609.52 | 0.0 | 2.46 | 612.5 | 0.0 | 1.22 | 221.05 | 0.0 | 0.17 | 0.0 | 0.0 | 11.65 | 44.36 | 0.0 | 215.24 | -12.87 | 0.0 | 180.34 | 160.93 | 0.0 | -80.10 | -120.28 | 0.0 | 6.27 | 16.76 | 0.0 |
| 19Q3 (3) | 12.94 | 4.86 | 0.0 | 2.45 | 1.66 | 0.0 | -0.82 | 23.36 | 0.0 | -0.84 | -33.33 | 0.0 | -0.48 | -45.45 | 0.0 | 0.38 | 8.57 | 0.0 | 0.17 | 6.25 | 0.0 | 8.07 | 7.31 | 0.0 | 247.04 | 7.89 | 0.0 | -296.00 | -31.32 | 0.0 | 395.00 | 21.39 | 0.0 | 5.37 | -8.83 | 0.0 |
| 19Q2 (2) | 12.34 | -6.37 | 0.0 | 2.41 | -40.79 | 0.0 | -1.07 | -164.46 | 0.0 | -0.63 | -148.09 | 0.0 | -0.33 | -149.25 | 0.0 | 0.35 | -45.31 | 0.0 | 0.16 | 0.0 | 0.0 | 7.52 | -26.85 | 0.0 | 228.98 | 1.01 | 0.0 | -225.40 | -191.79 | 0.0 | 325.40 | 323.56 | 0.0 | 5.89 | 0.86 | 0.0 |
| 19Q1 (1) | 13.18 | 0.0 | 0.0 | 4.07 | 0.0 | 0.0 | 1.66 | 0.0 | 0.0 | 1.31 | 0.0 | 0.0 | 0.67 | 0.0 | 0.0 | 0.64 | 0.0 | 0.0 | 0.16 | 0.0 | 0.0 | 10.28 | 0.0 | 0.0 | 226.70 | 0.0 | 0.0 | 245.55 | 0.0 | 0.0 | -145.55 | 0.0 | 0.0 | 5.84 | 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) | 9.74 | 17.63 | 0.07 | 0 | 4.25 | -18.89 | -1.79 | 0 | -2.21 | 0 | -4.46 | 0 | 0.39 | -9.3 | 0.65 | -7.14 | 6.01 | -8.38 | 216.97 | 7.84 | -3.70 | 0 | 103.70 | 95.21 | 0.05 | -24.52 | 5.51 | 8.89 |
| 2022 (9) | 8.28 | -49.6 | -0.78 | 0 | 5.24 | 15.17 | -1.66 | 0 | -1.74 | 0 | -3.59 | 0 | 0.43 | -90.73 | 0.70 | -6.67 | 6.56 | -46.45 | 201.20 | 8.53 | 46.88 | -67.59 | 53.12 | 0 | 0.07 | -21.79 | 5.06 | 11.7 |
| 2021 (8) | 16.43 | 4.78 | 7.34 | 32.73 | 4.55 | -22.19 | 5.07 | 90.6 | 4.16 | 86.55 | 8.91 | 127.88 | 4.64 | 54.67 | 0.75 | 29.31 | 12.25 | 0.25 | 185.39 | -2.32 | 144.62 | -30.39 | -44.62 | 0 | 0.08 | 17.53 | 4.53 | -19.25 |
| 2020 (7) | 15.68 | 14.2 | 5.53 | 47.86 | 5.85 | 16.71 | 2.66 | 241.03 | 2.23 | 112.38 | 3.91 | 71.49 | 3.00 | 14.07 | 0.58 | -14.71 | 12.22 | 30.14 | 189.80 | -11.82 | 207.77 | -56.54 | -107.77 | 0 | 0.07 | -20.59 | 5.61 | -3.94 |
| 2019 (6) | 13.73 | -0.87 | 3.74 | -26.52 | 5.01 | 20.7 | 0.78 | -73.1 | 1.05 | -39.66 | 2.28 | -37.36 | 2.63 | -12.91 | 0.68 | -4.23 | 9.39 | -8.75 | 215.24 | -4.25 | 478.02 | 172.87 | -378.02 | 0 | 0.09 | -22.77 | 5.84 | 14.06 |
| 2018 (5) | 13.85 | -32.67 | 5.09 | -55.23 | 4.15 | 13.78 | 2.90 | -74.67 | 1.74 | -79.43 | 3.64 | -78.36 | 3.02 | -59.84 | 0.71 | 0.0 | 10.29 | -42.22 | 224.80 | 32.62 | 175.18 | 76.43 | -75.18 | 0 | 0.12 | 0 | 5.12 | -7.58 |
| 2017 (4) | 20.57 | 4.84 | 11.37 | 25.64 | 3.65 | -19.44 | 11.45 | 14.5 | 8.46 | 9.44 | 16.82 | 15.28 | 7.52 | 19.37 | 0.71 | 12.7 | 17.81 | 2.24 | 169.51 | -14.37 | 99.29 | 9.75 | 0.73 | -92.37 | 0.00 | 0 | 5.54 | -20.52 |
| 2016 (3) | 19.62 | 5.71 | 9.05 | 16.93 | 4.53 | -4.81 | 10.00 | 114.59 | 7.73 | 118.36 | 14.59 | 142.36 | 6.30 | 94.44 | 0.63 | 10.53 | 17.42 | 42.67 | 197.96 | -2.95 | 90.47 | -45.53 | 9.56 | 0 | 0.00 | 0 | 6.97 | -1.13 |
| 2015 (2) | 18.56 | -3.53 | 7.74 | 4.59 | 4.76 | 5.1 | 4.66 | 7.13 | 3.54 | 10.97 | 6.02 | 5.24 | 3.24 | -4.71 | 0.57 | -6.56 | 12.21 | 2.61 | 203.98 | 3.72 | 166.08 | -2.38 | -66.08 | 0 | 0.00 | 0 | 7.05 | 14.45 |
| 2014 (1) | 19.24 | 0 | 7.40 | 0 | 4.53 | -4.76 | 4.35 | 0 | 3.19 | 0 | 5.72 | 0 | 3.40 | 0 | 0.61 | 5.17 | 11.90 | -11.13 | 196.67 | 0.6 | 170.13 | 37.23 | -70.13 | 0 | 0.00 | 0 | 6.16 | -0.65 |
