- 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) | 8.82 | -9.45 | -6.17 | 1.26 | -52.63 | -3.82 | -5.70 | -1112.77 | -95.21 | -5.61 | -804.84 | -103.26 | -3.31 | -794.59 | -131.47 | -0.70 | -350.0 | -483.33 | 0.20 | 0.0 | 11.11 | 0.17 | -96.69 | -94.74 | 201.62 | 5.31 | 9.53 | -22.19 | 96.07 | 50.81 | 122.19 | -81.63 | -15.79 | 6.68 | 23.93 | 13.22 |
| 23Q3 (19) | 9.74 | 7.15 | 7.74 | 2.66 | 1.92 | 638.89 | -0.47 | 58.77 | 80.42 | -0.62 | 58.11 | 74.49 | -0.37 | 55.95 | 75.0 | 0.28 | 133.33 | 286.67 | 0.20 | 0.0 | -4.76 | 5.14 | 13.97 | 94.7 | 191.45 | -0.43 | 3.34 | -564.04 | -145.59 | -3686.06 | 665.17 | 101.77 | 478.92 | 5.39 | -5.27 | 5.89 |
| 23Q2 (18) | 9.09 | 1.68 | -22.44 | 2.61 | 20.83 | -26.89 | -1.14 | -2000.0 | -140.71 | -1.48 | -722.22 | -192.5 | -0.84 | -740.0 | -177.78 | 0.12 | -67.57 | -83.33 | 0.20 | 5.26 | -16.67 | 4.51 | -26.67 | -36.92 | 192.27 | 2.3 | 1.05 | -229.67 | -106.06 | -279.81 | 329.67 | 108.93 | 1289.02 | 5.69 | -1.9 | 22.37 |
| 23Q1 (17) | 8.94 | -4.89 | -30.91 | 2.16 | 64.89 | -57.81 | 0.06 | 102.05 | -99.0 | -0.18 | 93.48 | -103.7 | -0.10 | 93.01 | -102.99 | 0.37 | 408.33 | -75.33 | 0.19 | 5.56 | -20.83 | 6.15 | 90.4 | -39.88 | 187.95 | 2.11 | 5.73 | 3790.00 | 8501.73 | 4352.05 | -3690.00 | -2642.9 | -24913.91 | 5.80 | -1.69 | 23.67 |
| 22Q4 (16) | 9.40 | 3.98 | -23.89 | 1.31 | 263.89 | -69.89 | -2.92 | -21.67 | -158.05 | -2.76 | -13.58 | -159.74 | -1.43 | 3.38 | -142.06 | -0.12 | 20.0 | -108.11 | 0.18 | -14.29 | -28.0 | 3.23 | 22.35 | -64.19 | 184.07 | -0.65 | -2.72 | -45.11 | -202.79 | -152.19 | 145.11 | 26.29 | 969.18 | 5.90 | 15.91 | 28.82 |
| 22Q3 (15) | 9.04 | -22.87 | -31.88 | 0.36 | -89.92 | -94.17 | -2.40 | -185.71 | -127.03 | -2.43 | -251.87 | -132.4 | -1.48 | -237.04 | -125.21 | -0.15 | -120.83 | -106.64 | 0.21 | -12.5 | -19.23 | 2.64 | -63.08 | -78.86 | 185.27 | -2.63 | -7.07 | -14.90 | -111.66 | -121.41 | 114.90 | 514.41 | 277.7 | 5.09 | 9.46 | 48.83 |
| 22Q2 (14) | 11.72 | -9.43 | -0.51 | 3.57 | -30.27 | -42.14 | 2.80 | -53.41 | -58.08 | 1.60 | -67.08 | -68.57 | 1.08 | -67.66 | -72.86 | 0.72 | -52.0 | -56.36 | 0.24 | 0.0 | -7.69 | 7.15 | -30.11 | -31.51 | 190.28 | 7.04 | -5.72 | 127.73 | 50.04 | 38.38 | -27.73 | -286.45 | -460.2 | 4.65 | -0.85 | 9.41 |
| 22Q1 (13) | 12.94 | 4.78 | 21.27 | 5.12 | 17.7 | -10.02 | 6.01 | 19.48 | -20.08 | 4.86 | 5.19 | -18.46 | 3.34 | -1.76 | -15.01 | 1.50 | 1.35 | -3.85 | 0.24 | -4.0 | 9.09 | 10.23 | 13.41 | -9.63 | 177.77 | -6.05 | -10.32 | 85.13 | -1.5 | 12.6 | 14.87 | 9.57 | -39.04 | 4.69 | 2.4 | -4.48 |
| 21Q4 (12) | 12.35 | -6.93 | 61.86 | 4.35 | -29.61 | 36.79 | 5.03 | -43.36 | 76.49 | 4.62 | -38.4 | 90.12 | 3.40 | -42.08 | 136.11 | 1.48 | -34.51 | 102.74 | 0.25 | -3.85 | 25.0 | 9.02 | -27.78 | 26.33 | 189.22 | -5.09 | -6.3 | 86.43 | 24.22 | -22.58 | 13.57 | -55.39 | 216.62 | 4.58 | 33.92 | -12.76 |
| 21Q3 (11) | 13.27 | 12.65 | 51.14 | 6.18 | 0.16 | 57.65 | 8.88 | 32.93 | -1.66 | 7.50 | 47.35 | -6.72 | 5.87 | 47.49 | 40.43 | 2.26 | 36.97 | 38.65 | 0.26 | 0.0 | 52.94 | 12.49 | 19.64 | -12.41 | 199.37 | -1.21 | -1.63 | 69.58 | -24.62 | 60.59 | 30.42 | 295.21 | -46.32 | 3.42 | -19.53 | -34.48 |
| 21Q2 (10) | 11.78 | 10.4 | 86.39 | 6.17 | 8.44 | 1567.57 | 6.68 | -11.17 | 224.86 | 5.09 | -14.6 | 210.89 | 3.98 | 1.27 | 280.09 | 1.65 | 5.77 | 492.86 | 0.26 | 18.18 | 73.33 | 10.44 | -7.77 | 6860.0 | 201.82 | 1.81 | -5.91 | 92.30 | 22.09 | 1435.44 | 7.70 | -68.45 | -92.8 | 4.25 | -13.44 | -22.87 |
| 21Q1 (9) | 10.67 | 39.84 | 50.71 | 5.69 | 78.93 | 2373.91 | 7.52 | 163.86 | 313.64 | 5.96 | 145.27 | 287.42 | 3.93 | 172.92 | 363.76 | 1.56 | 113.7 | 921.05 | 0.22 | 10.0 | 46.67 | 11.32 | 58.54 | 414.55 | 198.23 | -1.84 | -7.27 | 75.60 | -32.28 | 1260.14 | 24.40 | 309.62 | -77.1 | 4.91 | -6.48 | 0 |
| 20Q4 (8) | 7.63 | -13.1 | 137.69 | 3.18 | -18.88 | 278.65 | 2.85 | -68.44 | 170.2 | 2.43 | -69.78 | 166.76 | 1.44 | -65.55 | 178.69 | 0.73 | -55.21 | 335.48 | 0.20 | 17.65 | 17.65 | 7.14 | -49.93 | 440.91 | 201.94 | -0.37 | -1.55 | 111.64 | 157.66 | 154.09 | -11.64 | -120.54 | -120.76 | 5.25 | 0.57 | 0 |
| 20Q3 (7) | 8.78 | 38.92 | 102.77 | 3.92 | 959.46 | 578.05 | 9.03 | 268.79 | 759.12 | 8.04 | 275.16 | 625.49 | 4.18 | 289.14 | 597.62 | 1.63 | 488.1 | 3975.0 | 0.17 | 13.33 | -5.56 | 14.26 | 9406.67 | 290.68 | 202.68 | -5.51 | 0.24 | 43.33 | 726.87 | -27.33 | 56.67 | -46.99 | 40.36 | 5.22 | -5.26 | 5.88 |
| 20Q2 (6) | 6.32 | -10.73 | 19.92 | 0.37 | 60.87 | 156.06 | -5.35 | -51.99 | -58.75 | -4.59 | -44.34 | -103.1 | -2.21 | -48.32 | -90.52 | -0.42 | -121.05 | -425.0 | 0.15 | 0.0 | -11.76 | 0.15 | -93.18 | -91.71 | 214.50 | 0.34 | 4.11 | -6.91 | -6.06 | -135.12 | 106.91 | 0.37 | 33.11 | 5.51 | 0 | 6.17 |
| 20Q1 (5) | 7.08 | 120.56 | 68.57 | 0.23 | 112.92 | 108.33 | -3.52 | 13.3 | 23.81 | -3.18 | 12.64 | 21.48 | -1.49 | 18.58 | 28.71 | -0.19 | 38.71 | 52.5 | 0.15 | -11.76 | -11.76 | 2.20 | 66.67 | 331.37 | 213.77 | 4.22 | 4.46 | -6.52 | -114.83 | -110.9 | 106.52 | 89.99 | 165.72 | 0.00 | 0 | -100.0 |
| 19Q4 (4) | 3.21 | -25.87 | 0.0 | -1.78 | -117.07 | 0.0 | -4.06 | -196.35 | 0.0 | -3.64 | -137.91 | 0.0 | -1.83 | -117.86 | 0.0 | -0.31 | -875.0 | 0.0 | 0.17 | -5.56 | 0.0 | 1.32 | -63.84 | 0.0 | 205.11 | 1.44 | 0.0 | 43.94 | -26.31 | 0.0 | 56.06 | 38.85 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 4.33 | -17.84 | 0.0 | -0.82 | -24.24 | 0.0 | -1.37 | 59.35 | 0.0 | -1.53 | 32.3 | 0.0 | -0.84 | 27.59 | 0.0 | 0.04 | 150.0 | 0.0 | 0.18 | 5.88 | 0.0 | 3.65 | 101.66 | 0.0 | 202.20 | -1.86 | 0.0 | 59.62 | 202.94 | 0.0 | 40.38 | -49.73 | 0.0 | 4.93 | -5.01 | 0.0 |
| 19Q2 (2) | 5.27 | 25.48 | 0.0 | -0.66 | 76.09 | 0.0 | -3.37 | 27.06 | 0.0 | -2.26 | 44.2 | 0.0 | -1.16 | 44.5 | 0.0 | -0.08 | 80.0 | 0.0 | 0.17 | 0.0 | 0.0 | 1.81 | 254.9 | 0.0 | 206.03 | 0.68 | 0.0 | 19.68 | -67.07 | 0.0 | 80.32 | 100.37 | 0.0 | 5.19 | -0.57 | 0.0 |
| 19Q1 (1) | 4.20 | 0.0 | 0.0 | -2.76 | 0.0 | 0.0 | -4.62 | 0.0 | 0.0 | -4.05 | 0.0 | 0.0 | -2.09 | 0.0 | 0.0 | -0.40 | 0.0 | 0.0 | 0.17 | 0.0 | 0.0 | 0.51 | 0.0 | 0.0 | 204.64 | 0.0 | 0.0 | 59.77 | 0.0 | 0.0 | 40.09 | 0.0 | 0.0 | 5.22 | 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) | 9.16 | -16.19 | 2.18 | -20.73 | 3.11 | 12.49 | -1.83 | 0 | -1.98 | 0 | -4.60 | 0 | 0.09 | -95.48 | 0.79 | -11.24 | 3.98 | -34.75 | 201.62 | 9.53 | -119.13 | 0 | 219.21 | 0 | 0.29 | -13.36 | 5.89 | 17.33 |
| 2022 (9) | 10.93 | -9.74 | 2.75 | -50.81 | 2.77 | 24.48 | 1.25 | -82.17 | 0.62 | -89.31 | 1.59 | -90.75 | 1.99 | -71.73 | 0.89 | -11.88 | 6.10 | -43.52 | 184.07 | -2.72 | 221.00 | 177.33 | -121.00 | 0 | 0.34 | -10.67 | 5.02 | 18.12 |
| 2021 (8) | 12.11 | 61.68 | 5.59 | 174.02 | 2.22 | -25.38 | 7.01 | 567.62 | 5.80 | 523.66 | 17.19 | 819.25 | 7.04 | 311.7 | 1.01 | 53.03 | 10.80 | 75.04 | 189.22 | -6.3 | 79.69 | -59.0 | 20.31 | 0 | 0.38 | -15.22 | 4.25 | -22.16 |
| 2020 (7) | 7.49 | 75.41 | 2.04 | 0 | 2.98 | 2.9 | 1.05 | 0 | 0.93 | 0 | 1.87 | 0 | 1.71 | 0 | 0.66 | -5.71 | 6.17 | 235.33 | 201.94 | -1.55 | 194.34 | 331.02 | -94.34 | 0 | 0.45 | -13.71 | 5.46 | 8.98 |
| 2019 (6) | 4.27 | -46.63 | -1.50 | 0 | 2.90 | 22.95 | -3.33 | 0 | -2.85 | 0 | -5.96 | 0 | -0.76 | 0 | 0.70 | -17.65 | 1.84 | -59.65 | 205.11 | 5.89 | 45.09 | -89.0 | 54.91 | 0 | 0.52 | -0.65 | 5.01 | 19.29 |
| 2018 (5) | 8.00 | -9.6 | 1.97 | -36.66 | 2.36 | 0.93 | 0.48 | -81.1 | 0.36 | -80.95 | 0.89 | -80.18 | 1.46 | -45.72 | 0.85 | 1.19 | 4.56 | -29.63 | 193.71 | -0.32 | 409.83 | 234.58 | -309.83 | 0 | 0.52 | 4931.8 | 4.20 | 1.94 |
| 2017 (4) | 8.85 | -35.12 | 3.11 | -57.22 | 2.33 | -16.31 | 2.54 | -60.19 | 1.89 | -58.0 | 4.49 | -44.08 | 2.69 | -29.77 | 0.84 | 25.37 | 6.48 | -39.27 | 194.33 | 13.48 | 122.49 | 7.45 | -22.49 | 0 | 0.01 | 0 | 4.12 | -21.82 |
| 2016 (3) | 13.64 | 83.33 | 7.27 | 320.23 | 2.79 | -7.67 | 6.38 | 0 | 4.50 | 0 | 8.03 | 0 | 3.83 | 0 | 0.67 | 0.0 | 10.67 | 597.39 | 171.25 | 4.88 | 114.00 | 0 | -14.00 | 0 | 0.00 | 0 | 5.27 | 5.19 |
| 2015 (2) | 7.44 | 1.64 | 1.73 | -27.31 | 3.02 | 24.81 | -3.21 | 0 | -3.24 | 0 | -5.54 | 0 | -1.23 | 0 | 0.67 | -23.86 | 1.53 | -75.16 | 163.28 | 11.98 | -53.98 | 0 | 153.91 | 0 | 0.00 | 0 | 5.01 | 24.63 |
| 2014 (1) | 7.32 | 0 | 2.38 | 0 | 2.42 | -11.89 | 2.25 | 0 | 1.55 | 0 | 3.25 | 0 | 2.46 | 0 | 0.88 | 7.32 | 6.16 | 8.26 | 145.81 | 13.75 | 106.03 | -41.83 | -6.03 | 0 | 0.00 | 0 | 4.02 | -4.06 |
