- 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) | 8.85 | 19.92 | 156.52 | 4.54 | 7.84 | 404.44 | 9.50 | -8.83 | 113.96 | 8.80 | -12.96 | 91.72 | 3.12 | -23.53 | 60.0 | 1.53 | -20.31 | 48.54 | 0.15 | -6.25 | -11.76 | 13.22 | -5.84 | 76.5 | 135.04 | -11.95 | -5.27 | 47.96 | 18.74 | 138.5 | 52.04 | -12.7 | -34.86 | 3.56 | 5.64 | 23.61 |
| 23Q3 (19) | 7.38 | 30.62 | 122.29 | 4.21 | 87.11 | 231.5 | 10.42 | -14.66 | 472.14 | 10.11 | -14.97 | 383.19 | 4.08 | -4.9 | 363.23 | 1.92 | -7.69 | 568.29 | 0.16 | 6.67 | -5.88 | 14.04 | -13.81 | 7489.47 | 153.37 | 4.57 | -2.87 | 40.39 | 119.12 | 189.0 | 59.61 | -26.92 | -59.23 | 3.37 | -15.11 | 29.62 |
| 23Q2 (18) | 5.65 | -61.54 | -53.38 | 2.25 | -79.38 | -75.83 | 12.21 | -16.31 | 77.21 | 11.89 | -5.86 | 231.2 | 4.29 | -2.94 | 222.56 | 2.08 | -2.8 | 197.14 | 0.15 | 0.0 | 0.0 | 16.29 | -13.3 | 76.68 | 146.67 | 7.07 | -6.99 | 18.43 | -75.39 | -86.33 | 81.57 | 222.62 | 331.65 | 3.97 | -11.78 | 28.48 |
| 23Q1 (17) | 14.69 | 325.8 | 67.69 | 10.91 | 1112.22 | 74.0 | 14.59 | 228.6 | 116.79 | 12.63 | 175.16 | 152.1 | 4.42 | 126.67 | 125.51 | 2.14 | 107.77 | 118.37 | 0.15 | -11.76 | -11.76 | 18.79 | 150.87 | 120.28 | 136.98 | -3.91 | 10.33 | 74.91 | 272.5 | -19.67 | 25.28 | -68.35 | 274.43 | 4.50 | 56.25 | 52.54 |
| 22Q4 (16) | 3.45 | 3.92 | -80.79 | 0.90 | -29.13 | -94.15 | 4.44 | 258.57 | -78.83 | 4.59 | 228.57 | -75.52 | 1.95 | 225.81 | -63.41 | 1.03 | 351.22 | -58.8 | 0.17 | 0.0 | 30.77 | 7.49 | 4042.11 | -68.06 | 142.56 | -9.72 | 15.61 | 20.11 | 144.31 | -72.63 | 79.89 | -45.36 | 199.48 | 2.88 | 10.77 | -15.54 |
| 22Q3 (15) | 3.32 | -72.61 | -87.57 | 1.27 | -86.36 | -94.55 | -2.80 | -140.64 | -113.52 | -3.57 | -199.44 | -122.77 | -1.55 | -216.54 | -128.7 | -0.41 | -158.57 | -115.95 | 0.17 | 13.33 | 6.25 | -0.19 | -102.06 | -100.85 | 157.90 | 0.13 | 28.72 | -45.38 | -133.65 | -140.35 | 146.22 | 515.26 | 1272.73 | 2.60 | -15.86 | -27.58 |
| 22Q2 (14) | 12.12 | 38.36 | -49.98 | 9.31 | 48.48 | -53.7 | 6.89 | 2.38 | -76.07 | 3.59 | -28.34 | -85.47 | 1.33 | -32.14 | -86.09 | 0.70 | -28.57 | -84.09 | 0.15 | -11.76 | -11.76 | 9.22 | 8.09 | -69.76 | 157.69 | 27.02 | 42.4 | 134.86 | 44.62 | 93.1 | -35.21 | -621.46 | -216.74 | 3.09 | 4.75 | -23.89 |
| 22Q1 (13) | 8.76 | -51.22 | -52.03 | 6.27 | -59.23 | -57.92 | 6.73 | -67.91 | -70.44 | 5.01 | -73.28 | -73.81 | 1.96 | -63.23 | -73.15 | 0.98 | -60.8 | -68.69 | 0.17 | 30.77 | 6.25 | 8.53 | -63.62 | -65.6 | 124.15 | 0.68 | -9.45 | 93.25 | 26.92 | 42.39 | 6.75 | -74.69 | -80.43 | 2.95 | -13.49 | -23.77 |
| 21Q4 (12) | 17.96 | -32.73 | 24.38 | 15.38 | -33.96 | 42.41 | 20.97 | 1.26 | 168.5 | 18.75 | 19.58 | 219.42 | 5.33 | -1.3 | 153.81 | 2.50 | -2.72 | 171.74 | 0.13 | -18.75 | -7.14 | 23.45 | 4.64 | 127.23 | 123.31 | 0.52 | -15.28 | 73.47 | -34.67 | -46.98 | 26.68 | 313.96 | 169.16 | 3.41 | -5.01 | 5.9 |
| 21Q3 (11) | 26.70 | 10.19 | 183.74 | 23.29 | 15.81 | 323.45 | 20.71 | -28.07 | -5.65 | 15.68 | -36.54 | -25.08 | 5.40 | -43.51 | -38.84 | 2.57 | -41.59 | -26.15 | 0.16 | -5.88 | 0.0 | 22.41 | -26.5 | -8.79 | 122.67 | 10.77 | -27.16 | 112.47 | 61.04 | 349.15 | -12.47 | -141.34 | -116.63 | 3.59 | -11.58 | -10.92 |
| 21Q2 (10) | 24.23 | 32.69 | 582.54 | 20.11 | 34.97 | 6603.33 | 28.79 | 26.44 | 214.99 | 24.71 | 29.17 | 158.2 | 9.56 | 30.96 | 192.35 | 4.40 | 40.58 | 209.86 | 0.17 | 6.25 | 30.77 | 30.49 | 22.94 | 143.73 | 110.74 | -19.23 | -31.37 | 69.84 | 6.64 | 1895.38 | 30.16 | -12.6 | -68.91 | 4.06 | 4.91 | 0 |
| 21Q1 (9) | 18.26 | 26.45 | 386.93 | 14.90 | 37.96 | 1786.08 | 22.77 | 191.55 | 517.8 | 19.13 | 225.89 | 464.38 | 7.30 | 247.62 | 529.41 | 3.13 | 240.22 | 726.0 | 0.16 | 14.29 | 23.08 | 24.80 | 140.31 | 1433.33 | 137.11 | -5.8 | -13.85 | 65.49 | -52.74 | 550.72 | 34.51 | 189.47 | -69.87 | 3.87 | 20.19 | 0 |
| 20Q4 (8) | 14.44 | 53.45 | 2429.03 | 10.80 | 96.36 | 417.65 | 7.81 | -64.42 | 458.26 | 5.87 | -71.95 | 344.58 | 2.10 | -76.22 | 353.01 | 0.92 | -73.56 | 713.33 | 0.14 | -12.5 | 0.0 | 10.32 | -58.0 | 953.06 | 145.55 | -13.58 | 6.86 | 138.57 | 453.39 | -11.66 | -38.57 | -151.46 | 32.17 | 3.22 | -20.1 | 30.36 |
| 20Q3 (7) | 9.41 | 165.07 | 202.57 | 5.50 | 1733.33 | 843.24 | 21.95 | 140.15 | 221.85 | 20.93 | 118.7 | 198.15 | 8.83 | 170.03 | 294.2 | 3.48 | 145.07 | 219.27 | 0.16 | 23.08 | 23.08 | 24.57 | 96.4 | 147.68 | 168.42 | 4.38 | 14.52 | 25.04 | 615.44 | 331.62 | 74.96 | -22.72 | -32.35 | 4.03 | 0 | 49.26 |
| 20Q2 (6) | 3.55 | -5.33 | 22.41 | 0.30 | -62.03 | 330.77 | 9.14 | 267.71 | 237.03 | 9.57 | 282.29 | 236.71 | 3.27 | 292.35 | 268.56 | 1.42 | 384.0 | 336.67 | 0.13 | 0.0 | 18.18 | 12.51 | 772.58 | 492.16 | 161.36 | 1.39 | 8.88 | 3.50 | 124.09 | 54.0 | 97.00 | -15.31 | -0.74 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 3.75 | 704.84 | 11.94 | 0.79 | 123.24 | 2533.33 | -5.45 | -150.0 | -168.04 | -5.25 | -118.75 | -165.06 | -1.70 | -104.82 | -177.98 | -0.50 | -233.33 | -144.25 | 0.13 | -7.14 | 18.18 | -1.86 | -289.8 | -116.23 | 159.15 | 16.84 | 17.48 | -14.53 | -109.26 | -2410.26 | 114.53 | 301.41 | 14.53 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | -0.62 | -119.94 | 0.0 | -3.40 | -359.46 | 0.0 | -2.18 | -131.96 | 0.0 | -2.40 | -134.19 | 0.0 | -0.83 | -137.05 | 0.0 | -0.15 | -113.76 | 0.0 | 0.14 | 7.69 | 0.0 | 0.98 | -90.12 | 0.0 | 136.21 | -7.38 | 0.0 | 156.86 | 1550.98 | 0.0 | -56.86 | -151.32 | 0.0 | 2.47 | -8.52 | 0.0 |
| 19Q3 (3) | 3.11 | 7.24 | 0.0 | -0.74 | -469.23 | 0.0 | 6.82 | 202.25 | 0.0 | 7.02 | 200.29 | 0.0 | 2.24 | 215.46 | 0.0 | 1.09 | 281.67 | 0.0 | 0.13 | 18.18 | 0.0 | 9.92 | 410.97 | 0.0 | 147.07 | -0.76 | 0.0 | -10.81 | -575.68 | 0.0 | 110.81 | 13.39 | 0.0 | 2.70 | 49.17 | 0.0 |
| 19Q2 (2) | 2.90 | -13.43 | 0.0 | -0.13 | -533.33 | 0.0 | -6.67 | -183.27 | 0.0 | -7.00 | -186.74 | 0.0 | -1.94 | -188.99 | 0.0 | -0.60 | -153.1 | 0.0 | 0.11 | 0.0 | 0.0 | -3.19 | -127.84 | 0.0 | 148.20 | 9.4 | 0.0 | 2.27 | 261.36 | 0.0 | 97.73 | -2.27 | 0.0 | 1.81 | -41.42 | 0.0 |
| 19Q1 (1) | 3.35 | 0.0 | 0.0 | 0.03 | 0.0 | 0.0 | 8.01 | 0.0 | 0.0 | 8.07 | 0.0 | 0.0 | 2.18 | 0.0 | 0.0 | 1.13 | 0.0 | 0.0 | 0.11 | 0.0 | 0.0 | 11.46 | 0.0 | 0.0 | 135.47 | 0.0 | 0.0 | 0.63 | 0.0 | 0.0 | 100.00 | 0.0 | 0.0 | 3.09 | 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) | 8.99 | 29.73 | 5.34 | 19.73 | 1.44 | 30.44 | 11.56 | 200.26 | 10.77 | 343.21 | 15.64 | 306.23 | 7.72 | 227.12 | 0.61 | -10.29 | 15.45 | 146.02 | 135.04 | -5.27 | 46.18 | -60.16 | 53.77 | 0 | 0.15 | 624.04 | 3.82 | 32.64 |
| 2022 (9) | 6.93 | -68.64 | 4.46 | -76.15 | 1.10 | -1.04 | 3.85 | -83.59 | 2.43 | -87.63 | 3.85 | -86.31 | 2.36 | -81.1 | 0.68 | 9.68 | 6.28 | -75.29 | 142.56 | 15.61 | 115.91 | 45.4 | -15.91 | 0 | 0.02 | 0 | 2.88 | -22.99 |
| 2021 (8) | 22.10 | 167.88 | 18.70 | 292.03 | 1.11 | -31.02 | 23.46 | 153.07 | 19.65 | 129.02 | 28.12 | 147.97 | 12.49 | 137.0 | 0.62 | 12.73 | 25.41 | 107.94 | 123.31 | -15.28 | 79.72 | 54.85 | 20.28 | -58.2 | 0.00 | 0 | 3.74 | 13.68 |
| 2020 (7) | 8.25 | 296.63 | 4.77 | 0 | 1.61 | 26.69 | 9.27 | 530.61 | 8.58 | 517.27 | 11.34 | 575.0 | 5.27 | 249.01 | 0.55 | 7.84 | 12.22 | 157.26 | 145.55 | 6.86 | 51.48 | 0 | 48.52 | -72.9 | 0.00 | 0 | 3.29 | 30.56 |
| 2019 (6) | 2.08 | -75.21 | -1.15 | 0 | 1.27 | 30.3 | 1.47 | -88.81 | 1.39 | -87.91 | 1.68 | -88.48 | 1.51 | -78.91 | 0.51 | -8.93 | 4.75 | -69.88 | 136.21 | -1.92 | -79.03 | 0 | 179.03 | 186.35 | 0.00 | 0 | 2.52 | -17.11 |
| 2018 (5) | 8.39 | -37.11 | 4.93 | -58.61 | 0.98 | 6.05 | 13.14 | -9.25 | 11.50 | -10.51 | 14.58 | -18.18 | 7.16 | -20.97 | 0.56 | -13.85 | 15.77 | -5.85 | 138.88 | 22.58 | 37.57 | -54.35 | 62.52 | 251.58 | 0.00 | 0 | 3.04 | -1.3 |
| 2017 (4) | 13.34 | -6.71 | 11.91 | 1.53 | 0.92 | -22.22 | 14.48 | 14.47 | 12.85 | 9.92 | 17.82 | 15.64 | 9.06 | 23.77 | 0.65 | 14.04 | 16.75 | 9.33 | 113.30 | -0.54 | 82.30 | -11.24 | 17.78 | 144.44 | 0.00 | 0 | 3.08 | -17.65 |
| 2016 (3) | 14.30 | 0 | 11.73 | 0 | 1.19 | -12.13 | 12.65 | 0 | 11.69 | 0 | 15.41 | 0 | 7.32 | 0 | 0.57 | 5.56 | 15.32 | 0 | 113.91 | -27.42 | 92.73 | -54.23 | 7.27 | 0 | 0.00 | 0 | 3.74 | 63.32 |
| 2015 (2) | -8.81 | 0 | -13.26 | 0 | 1.35 | 37.33 | -6.54 | 0 | -6.34 | 0 | -8.48 | 0 | -2.70 | 0 | 0.54 | -20.59 | -3.53 | 0 | 156.95 | 12.86 | 202.61 | 11.54 | -102.61 | 0 | 0.00 | 0 | 2.29 | 21.16 |
| 2014 (1) | 5.76 | 0 | 5.60 | 0 | 0.98 | 11.45 | 3.09 | 0 | 2.57 | 0 | 4.05 | 0 | 2.53 | 0 | 0.68 | -2.86 | 5.47 | -11.77 | 139.07 | 11.63 | 181.65 | 42.72 | -81.27 | 0 | 0.00 | 0 | 1.89 | 2600.0 |
