- 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) | 16.47 | -10.92 | -14.22 | 4.51 | -40.97 | -52.77 | 3.55 | -62.35 | 5.65 | 3.02 | -57.16 | -13.22 | 0.86 | -61.95 | -23.21 | 0.60 | -53.85 | -18.92 | 0.15 | -11.76 | -6.25 | 8.07 | -40.13 | 6.75 | 81.41 | -7.75 | -17.08 | 126.81 | 56.49 | -55.32 | -26.81 | -241.37 | 85.41 | 7.34 | 2.95 | 34.93 |
| 23Q3 (19) | 18.49 | -6.85 | -9.5 | 7.64 | -21.96 | 1.73 | 9.43 | -25.22 | -17.57 | 7.05 | -8.91 | -17.54 | 2.26 | -17.52 | -32.13 | 1.30 | -16.13 | -28.57 | 0.17 | -5.56 | -10.53 | 13.48 | -17.3 | -9.04 | 88.25 | -11.96 | -10.23 | 81.03 | 4.4 | 23.5 | 18.97 | -15.26 | -44.84 | 7.13 | 11.93 | -21.04 |
| 23Q2 (18) | 19.85 | -6.76 | -39.87 | 9.79 | -17.73 | -54.25 | 12.61 | 13.09 | -52.95 | 7.74 | -6.86 | -59.35 | 2.74 | -14.91 | -71.01 | 1.55 | -15.76 | -68.3 | 0.18 | -10.0 | -28.0 | 16.30 | 11.04 | -44.93 | 100.24 | 6.13 | -3.49 | 77.62 | -27.27 | -2.79 | 22.38 | 433.16 | 11.05 | 6.37 | 5.81 | -13.22 |
| 23Q1 (17) | 21.29 | 10.89 | -36.45 | 11.90 | 24.61 | -50.42 | 11.15 | 231.85 | -48.62 | 8.31 | 138.79 | -50.27 | 3.22 | 187.5 | -62.86 | 1.84 | 148.65 | -59.47 | 0.20 | 25.0 | -23.08 | 14.68 | 94.18 | -39.98 | 94.45 | -3.8 | -4.18 | 106.72 | -62.4 | -3.5 | -6.72 | 96.35 | 36.66 | 6.02 | 10.66 | 0.33 |
| 22Q4 (16) | 19.20 | -6.02 | -44.81 | 9.55 | 27.16 | -57.4 | 3.36 | -70.63 | -82.18 | 3.48 | -59.3 | -74.91 | 1.12 | -66.37 | -83.82 | 0.74 | -59.34 | -78.24 | 0.16 | -15.79 | -30.43 | 7.56 | -48.99 | -66.43 | 98.18 | -0.13 | -2.21 | 283.83 | 332.56 | 138.67 | -183.83 | -634.64 | -871.5 | 5.44 | -39.76 | -31.57 |
| 22Q3 (15) | 20.43 | -38.11 | -37.43 | 7.51 | -64.91 | -65.6 | 11.44 | -57.31 | -37.79 | 8.55 | -55.09 | -39.66 | 3.33 | -64.76 | -61.72 | 1.82 | -62.78 | -52.48 | 0.19 | -24.0 | -24.0 | 14.82 | -49.93 | -31.36 | 98.31 | -5.35 | -31.89 | 65.62 | -17.82 | -44.73 | 34.38 | 70.6 | 283.79 | 9.03 | 23.02 | 15.18 |
| 22Q2 (14) | 33.01 | -1.46 | 17.39 | 21.40 | -10.83 | 10.65 | 26.80 | 23.5 | 86.89 | 19.04 | 13.94 | 79.12 | 9.45 | 9.0 | 40.62 | 4.89 | 7.71 | 63.0 | 0.25 | -3.85 | -3.85 | 29.60 | 21.01 | 65.92 | 103.87 | 5.38 | -25.98 | 79.85 | -27.8 | -40.81 | 20.15 | 290.02 | 157.76 | 7.34 | 22.33 | 33.7 |
| 22Q1 (13) | 33.50 | -3.71 | 42.86 | 24.00 | 7.05 | 76.21 | 21.70 | 15.12 | 91.7 | 16.71 | 20.48 | 96.59 | 8.67 | 25.29 | 85.26 | 4.54 | 33.53 | 118.27 | 0.26 | 13.04 | 23.81 | 24.46 | 8.61 | 57.5 | 98.57 | -1.82 | -34.11 | 110.59 | -7.01 | -8.03 | -10.61 | 43.95 | 47.72 | 6.00 | -24.53 | 4.71 |
| 21Q4 (12) | 34.79 | 6.55 | 87.24 | 22.42 | 2.7 | 146.92 | 18.85 | 2.5 | 339.39 | 13.87 | -2.12 | 307.94 | 6.92 | -20.46 | 316.87 | 3.40 | -11.23 | 290.8 | 0.23 | -8.0 | 43.75 | 22.52 | 4.31 | 119.92 | 100.40 | -30.44 | -39.35 | 118.92 | 0.16 | -43.81 | -18.92 | -1.15 | 83.05 | 7.95 | 1.4 | 12.61 |
| 21Q3 (11) | 32.65 | 16.11 | 104.19 | 21.83 | 12.87 | 513.2 | 18.39 | 28.24 | 4870.27 | 14.17 | 33.3 | 9346.67 | 8.70 | 29.46 | 12328.57 | 3.83 | 27.67 | 1026.47 | 0.25 | -3.85 | 78.57 | 21.59 | 21.02 | 208.43 | 144.33 | 2.85 | -40.38 | 118.73 | -11.98 | -87.62 | -18.71 | 46.39 | 97.82 | 7.84 | 42.81 | 8.44 |
| 21Q2 (10) | 28.12 | 19.91 | 111.11 | 19.34 | 42.0 | 1258.08 | 14.34 | 26.68 | 315.32 | 10.63 | 25.06 | 300.19 | 6.72 | 43.59 | 455.56 | 3.00 | 44.23 | 1100.0 | 0.26 | 23.81 | 136.36 | 17.84 | 14.87 | 1113.61 | 140.33 | -6.19 | -38.93 | 134.89 | 12.18 | 435.57 | -34.89 | -72.01 | -146.64 | 5.49 | -4.19 | 0 |
| 21Q1 (9) | 23.45 | 26.21 | 94.77 | 13.62 | 50.0 | 15033.33 | 11.32 | 163.87 | 3002.56 | 8.50 | 150.0 | 2123.81 | 4.68 | 181.93 | 2563.16 | 2.08 | 139.08 | 550.0 | 0.21 | 31.25 | 40.0 | 15.53 | 51.66 | 152.93 | 149.59 | -9.63 | -22.86 | 120.24 | -43.18 | 641.1 | -20.29 | 81.83 | -116.39 | 5.73 | -18.84 | 0 |
| 20Q4 (8) | 18.58 | 16.2 | 15.91 | 9.08 | 155.06 | 382.98 | 4.29 | 1059.46 | 258.89 | 3.40 | 2166.67 | 300.0 | 1.66 | 2271.43 | 333.8 | 0.87 | 155.88 | 770.0 | 0.16 | 14.29 | 6.67 | 10.24 | 46.29 | 118.34 | 165.53 | -31.62 | -10.22 | 211.63 | -77.94 | 404.66 | -111.63 | 87.01 | -165.87 | 7.06 | -2.35 | 0 |
| 20Q3 (7) | 15.99 | 20.05 | -9.04 | 3.56 | 313.17 | -44.81 | 0.37 | 105.56 | -85.82 | 0.15 | 102.82 | -91.07 | 0.07 | 103.7 | -91.67 | 0.34 | 213.33 | -50.0 | 0.14 | 27.27 | -26.32 | 7.00 | 376.19 | -8.38 | 242.08 | 5.35 | 43.09 | 959.26 | 3708.54 | 286.98 | -859.26 | -1248.54 | -481.79 | 7.23 | 0 | 19.7 |
| 20Q2 (6) | 13.32 | 10.63 | -26.08 | -1.67 | -1955.56 | -122.72 | -6.66 | -1607.69 | -200.0 | -5.31 | -1164.29 | -210.4 | -1.89 | -894.74 | -180.77 | -0.30 | -193.75 | -122.73 | 0.11 | -26.67 | -45.0 | 1.47 | -76.06 | -87.24 | 229.78 | 18.49 | 38.56 | 25.19 | 213.34 | -77.19 | 74.81 | -39.57 | 824.06 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 12.04 | -24.89 | -42.97 | 0.09 | -95.21 | -99.17 | -0.39 | 85.56 | -104.96 | -0.42 | 75.29 | -106.65 | -0.19 | 73.24 | -106.33 | 0.32 | 220.0 | -81.07 | 0.15 | 0.0 | -28.57 | 6.14 | 30.92 | -48.92 | 193.92 | 5.17 | 49.48 | -22.22 | 68.01 | -116.17 | 123.81 | -26.94 | 430.95 | 0.00 | 0 | -100.0 |
| 19Q4 (4) | 16.03 | -8.82 | 0.0 | 1.88 | -70.85 | 0.0 | -2.70 | -203.45 | 0.0 | -1.70 | -201.19 | 0.0 | -0.71 | -184.52 | 0.0 | 0.10 | -85.29 | 0.0 | 0.15 | -21.05 | 0.0 | 4.69 | -38.61 | 0.0 | 184.38 | 8.98 | 0.0 | -69.46 | -128.02 | 0.0 | 169.46 | 214.74 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 17.58 | -2.44 | 0.0 | 6.45 | -12.24 | 0.0 | 2.61 | -60.81 | 0.0 | 1.68 | -65.07 | 0.0 | 0.84 | -64.1 | 0.0 | 0.68 | -48.48 | 0.0 | 0.19 | -5.0 | 0.0 | 7.64 | -33.68 | 0.0 | 169.18 | 2.01 | 0.0 | 247.88 | 124.52 | 0.0 | -147.69 | -1329.41 | 0.0 | 6.04 | -1.63 | 0.0 |
| 19Q2 (2) | 18.02 | -14.64 | 0.0 | 7.35 | -31.94 | 0.0 | 6.66 | -15.27 | 0.0 | 4.81 | -23.89 | 0.0 | 2.34 | -22.0 | 0.0 | 1.32 | -21.89 | 0.0 | 0.20 | -4.76 | 0.0 | 11.52 | -4.16 | 0.0 | 165.84 | 27.83 | 0.0 | 110.40 | -19.65 | 0.0 | -10.33 | 72.38 | 0.0 | 6.14 | 6.6 | 0.0 |
| 19Q1 (1) | 21.11 | 0.0 | 0.0 | 10.80 | 0.0 | 0.0 | 7.86 | 0.0 | 0.0 | 6.32 | 0.0 | 0.0 | 3.00 | 0.0 | 0.0 | 1.69 | 0.0 | 0.0 | 0.21 | 0.0 | 0.0 | 12.02 | 0.0 | 0.0 | 129.73 | 0.0 | 0.0 | 137.41 | 0.0 | 0.0 | -37.41 | 0.0 | 0.0 | 5.76 | 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) | 19.22 | -29.31 | 8.75 | -46.09 | 2.36 | 27.75 | 9.49 | -43.55 | 6.73 | -46.63 | 9.18 | -59.09 | 5.50 | -54.28 | 0.72 | -19.1 | 13.40 | -33.1 | 81.41 | -17.08 | 92.17 | -4.54 | 7.83 | 127.52 | 4.27 | 2.86 | 6.66 | -4.86 |
| 2022 (9) | 27.19 | -9.37 | 16.23 | -16.98 | 1.85 | -2.4 | 16.81 | 5.66 | 12.61 | 5.7 | 22.44 | -11.34 | 12.03 | -1.07 | 0.89 | -5.32 | 20.03 | 2.56 | 98.18 | -2.21 | 96.56 | -21.4 | 3.44 | 0 | 4.15 | -20.97 | 7.00 | 3.09 |
| 2021 (8) | 30.00 | 98.94 | 19.55 | 534.74 | 1.89 | -35.34 | 15.91 | 0 | 11.93 | 0 | 25.31 | 0 | 12.16 | 872.8 | 0.94 | 59.32 | 19.53 | 196.81 | 100.40 | -39.35 | 122.86 | 0 | -22.85 | 0 | 5.26 | -13.17 | 6.79 | -6.34 |
| 2020 (7) | 15.08 | -17.78 | 3.08 | -55.62 | 2.93 | 43.28 | -0.14 | 0 | -0.17 | 0 | -0.28 | 0 | 1.25 | -68.03 | 0.59 | -24.36 | 6.58 | -28.86 | 165.53 | -13.3 | -2278.75 | 0 | 2378.75 | 0 | 6.05 | -6.81 | 7.25 | 16.19 |
| 2019 (6) | 18.34 | -15.68 | 6.94 | -37.25 | 2.04 | 171.64 | 4.02 | -62.67 | 3.07 | -61.43 | 6.01 | -72.49 | 3.91 | -61.29 | 0.78 | -28.44 | 9.25 | -30.82 | 190.93 | 59.36 | 172.80 | 68.4 | -72.77 | 0 | 6.50 | -16.39 | 6.24 | -6.02 |
| 2018 (5) | 21.75 | 22.95 | 11.06 | 51.3 | 0.75 | -9.54 | 10.77 | 157.66 | 7.96 | 256.95 | 21.85 | 143.86 | 10.10 | 135.98 | 1.09 | -13.49 | 13.37 | 105.38 | 119.81 | -49.6 | 102.62 | -41.31 | -2.62 | 0 | 7.77 | 226.25 | 6.64 | 11.04 |
| 2017 (4) | 17.69 | 15.92 | 7.31 | 87.92 | 0.83 | -24.19 | 4.18 | 97.17 | 2.23 | 58.16 | 8.96 | 104.57 | 4.28 | 59.7 | 1.26 | 22.33 | 6.51 | 36.76 | 237.73 | 19.0 | 174.84 | -4.54 | -74.81 | 0 | 2.38 | 0 | 5.98 | -22.03 |
| 2016 (3) | 15.26 | 43.56 | 3.89 | 727.66 | 1.10 | 8.62 | 2.12 | 457.89 | 1.41 | 0 | 4.38 | 0 | 2.68 | 194.51 | 1.03 | -5.5 | 4.76 | 65.28 | 199.78 | -2.57 | 183.15 | 49.92 | -83.15 | 0 | 0.00 | 0 | 7.67 | 16.21 |
| 2015 (2) | 10.63 | -39.29 | 0.47 | -92.99 | 1.01 | 7.85 | 0.38 | -93.38 | -0.33 | 0 | -1.04 | 0 | 0.91 | -85.32 | 1.09 | -9.92 | 2.88 | -63.27 | 205.05 | 16.46 | 122.16 | 4.55 | -22.16 | 0 | 0.00 | 0 | 6.60 | -8.08 |
| 2014 (1) | 17.51 | 0 | 6.70 | 0 | 0.94 | -19.98 | 5.74 | 0 | 4.19 | 0 | 13.92 | 0 | 6.20 | 0 | 1.21 | 14.15 | 7.84 | 88.92 | 176.07 | 2.82 | 116.85 | -4.23 | -16.82 | 0 | 0.00 | 0 | 7.18 | 6.37 |
