- 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) | 1.27 | -91.11 | -90.31 | -17.61 | -1343.44 | -308.58 | -20.56 | -1389.86 | -510.09 | -17.99 | -1140.69 | -576.32 | -9.90 | -976.09 | -400.0 | -1.92 | -1700.0 | -1100.0 | 0.13 | -13.33 | -27.78 | -5.83 | -158.71 | -202.64 | 347.49 | 7.19 | 7.38 | 85.71 | -14.29 | -31.43 | 14.29 | 0 | 157.14 | 23.24 | 0.69 | 20.29 |
| 23Q3 (19) | 14.28 | -7.99 | 33.46 | -1.22 | -164.21 | 83.56 | -1.38 | -331.25 | 78.9 | -1.45 | -110.14 | 71.06 | -0.92 | -84.0 | 71.43 | 0.12 | -47.83 | 121.82 | 0.15 | -11.76 | -6.25 | 9.93 | -3.03 | 520.62 | 324.17 | -2.82 | 3.97 | 100.00 | 116.67 | -13.04 | -0.00 | -100.0 | 100.0 | 23.08 | 19.9 | 6.56 |
| 23Q2 (18) | 15.52 | 29.33 | 45.45 | 1.90 | 172.52 | 132.87 | -0.32 | -102.75 | 91.75 | -0.69 | 55.48 | 70.76 | -0.50 | 49.49 | 65.28 | 0.23 | 155.56 | 227.78 | 0.17 | 13.33 | 6.25 | 10.24 | -54.08 | 211.25 | 333.57 | 7.61 | 10.75 | -600.00 | -2450.0 | -500.0 | 700.00 | 466.67 | 1500.0 | 19.25 | -8.2 | 7.72 |
| 23Q1 (17) | 12.00 | -8.47 | 2.56 | -2.62 | 39.21 | 58.48 | 11.63 | 445.1 | 300.52 | -1.55 | 41.73 | 68.75 | -0.99 | 50.0 | 62.64 | 0.09 | 156.25 | 116.36 | 0.15 | -16.67 | 0.0 | 22.30 | 292.61 | 1406.76 | 309.98 | -4.21 | 14.64 | -23.53 | -118.82 | -122.15 | 123.53 | 594.12 | 2076.47 | 20.97 | 8.54 | -0.94 |
| 22Q4 (16) | 13.11 | 22.52 | 0.31 | -4.31 | 41.91 | 56.9 | -3.37 | 48.47 | 56.68 | -2.66 | 46.91 | 57.71 | -1.98 | 38.51 | 38.32 | -0.16 | 70.91 | 78.67 | 0.18 | 12.5 | 20.0 | 5.68 | 255.0 | 1594.74 | 323.60 | 3.79 | 23.63 | 125.00 | 8.7 | -3.85 | -25.00 | -66.67 | 16.67 | 19.32 | -10.8 | -13.01 |
| 22Q3 (15) | 10.70 | 0.28 | -26.61 | -7.42 | -28.37 | -528.81 | -6.54 | -68.56 | 0 | -5.01 | -112.29 | -9920.0 | -3.22 | -123.61 | -16000.0 | -0.55 | -205.56 | -423.53 | 0.16 | 0.0 | 14.29 | 1.60 | -51.37 | -79.19 | 311.79 | 3.52 | 30.97 | 115.00 | -23.33 | 0 | -15.00 | 70.0 | 0 | 21.66 | 21.21 | 5.5 |
| 22Q2 (14) | 10.67 | -8.8 | -32.25 | -5.78 | 8.4 | -209.09 | -3.88 | 33.1 | -818.52 | -2.36 | 52.42 | -3833.33 | -1.44 | 45.66 | -4700.0 | -0.18 | 67.27 | -212.5 | 0.16 | 6.67 | 14.29 | 3.29 | 122.3 | -59.13 | 301.20 | 11.39 | 34.7 | 150.00 | 41.18 | 137.5 | -50.00 | -700.0 | -108.33 | 17.87 | -15.59 | -16.38 |
| 22Q1 (13) | 11.70 | -10.48 | -45.1 | -6.31 | 36.9 | -291.21 | -5.80 | 25.45 | -455.83 | -4.96 | 21.14 | -572.38 | -2.65 | 17.45 | -630.0 | -0.55 | 26.67 | -271.88 | 0.15 | 0.0 | -6.25 | 1.48 | 489.47 | -83.93 | 270.40 | 3.31 | 30.21 | 106.25 | -18.27 | -46.88 | -6.25 | 79.17 | 93.75 | 21.17 | -4.68 | 0.38 |
| 21Q4 (12) | 13.07 | -10.36 | -30.85 | -10.00 | -747.46 | -3946.15 | -7.78 | 0 | -980.56 | -6.29 | -12480.0 | -686.25 | -3.21 | -15950.0 | -872.73 | -0.75 | -541.18 | -475.0 | 0.15 | 7.14 | 7.14 | -0.38 | -104.94 | -104.14 | 261.74 | 9.95 | 33.61 | 130.00 | 0 | 230.0 | -30.00 | 0 | -115.0 | 22.21 | 8.18 | 2.68 |
| 21Q3 (11) | 14.58 | -7.43 | 5.35 | -1.18 | 36.9 | 83.38 | 0.00 | -100.0 | 100.0 | -0.05 | 16.67 | 98.77 | -0.02 | 33.33 | 98.55 | 0.17 | 6.25 | 143.59 | 0.14 | 0.0 | 16.67 | 7.69 | -4.47 | 63.27 | 238.06 | 6.47 | 23.19 | 0.00 | 100.0 | -100.0 | 0.00 | -100.0 | 100.0 | 20.53 | -3.93 | -22.67 |
| 21Q2 (10) | 15.75 | -26.09 | 49.01 | -1.87 | -156.67 | 81.02 | 0.54 | -66.87 | 107.31 | -0.06 | -105.71 | 99.13 | -0.03 | -106.0 | 98.76 | 0.16 | -50.0 | 124.62 | 0.14 | -12.5 | 16.67 | 8.05 | -12.6 | 191.67 | 223.60 | 7.67 | 20.55 | -400.00 | -300.0 | -388.89 | 600.00 | 700.0 | 2050.0 | 21.37 | 1.33 | 0 |
| 21Q1 (9) | 21.31 | 12.75 | 92.33 | 3.30 | 1169.23 | 124.02 | 1.63 | 326.39 | 111.5 | 1.05 | 231.25 | 108.1 | 0.50 | 251.52 | 112.76 | 0.32 | 60.0 | 126.02 | 0.16 | 14.29 | 45.45 | 9.21 | 0.33 | 400.0 | 207.67 | 6.01 | 15.05 | 200.00 | 300.0 | 109.09 | -100.00 | -150.0 | -2400.0 | 21.09 | -2.5 | 0 |
| 20Q4 (8) | 18.90 | 36.56 | 54.03 | 0.26 | 103.66 | 101.91 | -0.72 | 85.19 | 96.58 | -0.80 | 80.25 | 94.55 | -0.33 | 76.09 | 93.25 | 0.20 | 151.28 | 112.12 | 0.14 | 16.67 | 16.67 | 9.18 | 94.9 | 185.4 | 195.90 | 1.38 | 11.6 | -100.00 | -166.67 | -256.0 | 200.00 | 500.0 | 457.14 | 21.63 | -18.53 | -13.13 |
| 20Q3 (7) | 13.84 | 30.94 | -12.74 | -7.10 | 27.92 | -177.34 | -4.86 | 34.24 | 67.25 | -4.05 | 41.13 | 69.59 | -1.38 | 42.74 | 71.43 | -0.39 | 40.0 | 75.47 | 0.12 | 0.0 | -14.29 | 4.71 | 70.65 | 191.28 | 193.24 | 4.18 | 17.94 | 150.00 | 8.33 | 860.0 | -50.00 | -62.5 | -161.54 | 26.55 | 0 | -9.97 |
| 20Q2 (6) | 10.57 | -4.6 | -45.99 | -9.85 | 28.31 | -621.16 | -7.39 | 47.85 | -266.82 | -6.88 | 46.95 | -488.7 | -2.41 | 38.52 | -425.68 | -0.65 | 47.15 | -232.65 | 0.12 | 9.09 | -25.0 | 2.76 | 189.9 | -80.27 | 185.49 | 2.76 | 12.35 | 138.46 | 44.76 | 204.62 | -30.77 | -807.69 | -156.41 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 11.08 | -9.7 | -7.74 | -13.74 | -0.96 | -156.34 | -14.17 | 32.62 | -239.0 | -12.97 | 11.65 | -290.66 | -3.92 | 19.84 | -178.01 | -1.23 | 25.45 | -241.67 | 0.11 | -8.33 | -35.29 | -3.07 | 71.44 | -153.02 | 180.50 | 2.83 | 25.94 | 95.65 | 49.22 | -26.42 | 4.35 | -87.89 | 114.49 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 12.27 | -22.64 | 0.0 | -13.61 | -431.64 | 0.0 | -21.03 | -41.71 | 0.0 | -14.68 | -10.21 | 0.0 | -4.89 | -1.24 | 0.0 | -1.65 | -3.77 | 0.0 | 0.12 | -14.29 | 0.0 | -10.75 | -108.33 | 0.0 | 175.53 | 7.14 | 0.0 | 64.10 | 310.26 | 0.0 | 35.90 | -55.82 | 0.0 | 24.90 | -15.56 | 0.0 |
| 19Q3 (3) | 15.86 | -18.96 | 0.0 | -2.56 | -235.45 | 0.0 | -14.84 | -434.99 | 0.0 | -13.32 | -852.54 | 0.0 | -4.83 | -752.7 | 0.0 | -1.59 | -424.49 | 0.0 | 0.14 | -12.5 | 0.0 | -5.16 | -136.88 | 0.0 | 163.84 | -0.76 | 0.0 | 15.62 | -65.62 | 0.0 | 81.25 | 48.96 | 0.0 | 29.49 | 25.17 | 0.0 |
| 19Q2 (2) | 19.57 | 62.95 | 0.0 | 1.89 | 135.26 | 0.0 | 4.43 | 205.98 | 0.0 | 1.77 | 153.31 | 0.0 | 0.74 | 152.48 | 0.0 | 0.49 | 236.11 | 0.0 | 0.16 | -5.88 | 0.0 | 13.99 | 141.62 | 0.0 | 165.10 | 15.2 | 0.0 | 45.45 | -65.03 | 0.0 | 54.55 | 281.82 | 0.0 | 23.56 | -5.87 | 0.0 |
| 19Q1 (1) | 12.01 | 0.0 | 0.0 | -5.36 | 0.0 | 0.0 | -4.18 | 0.0 | 0.0 | -3.32 | 0.0 | 0.0 | -1.41 | 0.0 | 0.0 | -0.36 | 0.0 | 0.0 | 0.17 | 0.0 | 0.0 | 5.79 | 0.0 | 0.0 | 143.32 | 0.0 | 0.0 | 130.00 | 0.0 | 0.0 | -30.00 | 0.0 | 0.0 | 25.03 | 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) | 11.37 | -1.9 | -4.07 | 0 | 6.72 | 36.47 | -1.72 | 0 | -4.67 | 0 | -12.35 | 0 | -1.45 | 0 | 0.61 | -6.15 | 9.91 | 206.81 | 347.49 | 7.38 | 235.00 | 93.15 | -135.00 | 0 | 0.05 | -45.88 | 21.48 | 7.62 |
| 2022 (9) | 11.59 | -27.97 | -5.89 | 0 | 4.93 | -6.67 | -4.83 | 0 | -3.68 | 0 | -9.34 | 0 | -1.44 | 0 | 0.65 | 10.17 | 3.23 | -46.08 | 323.60 | 23.63 | 121.67 | -29.81 | -21.67 | 0 | 0.10 | -7.41 | 19.96 | -6.38 |
| 2021 (8) | 16.09 | 16.17 | -2.62 | 0 | 5.28 | -22.32 | -1.55 | 0 | -1.45 | 0 | -2.82 | 0 | -0.17 | 0 | 0.59 | 22.92 | 5.99 | 60.16 | 261.74 | 33.61 | 173.33 | 53.33 | -66.67 | 0 | 0.11 | -18.51 | 21.32 | -10.76 |
| 2020 (7) | 13.85 | -8.1 | -7.17 | 0 | 6.80 | -4.64 | -6.40 | 0 | -5.84 | 0 | -8.03 | 0 | -2.05 | 0 | 0.48 | -21.31 | 3.74 | 94.79 | 195.90 | 11.6 | 113.04 | 102.9 | -13.04 | 0 | 0.13 | -0.33 | 23.89 | -6.93 |
| 2019 (6) | 15.07 | -21.71 | -4.43 | 0 | 7.13 | 47.98 | -7.92 | 0 | -6.71 | 0 | -10.69 | 0 | -3.25 | 0 | 0.61 | -39.6 | 1.92 | -84.69 | 175.53 | 17.12 | 55.71 | -34.36 | 44.29 | 217.38 | 0.13 | 90.75 | 25.67 | 37.64 |
| 2018 (5) | 19.25 | 24.6 | 5.20 | 0 | 4.82 | -15.79 | 6.06 | 0 | 4.89 | 0 | 12.93 | 0 | 5.69 | 0 | 1.01 | 9.78 | 12.54 | 236.19 | 149.87 | -16.1 | 84.88 | 7.66 | 13.95 | -34.04 | 0.07 | 0 | 18.65 | -8.26 |
| 2017 (4) | 15.45 | -10.49 | -3.24 | 0 | 5.72 | -20.02 | -4.11 | 0 | -3.70 | 0 | -9.76 | 0 | -2.47 | 0 | 0.92 | 17.95 | 3.73 | -51.24 | 178.63 | -7.51 | 78.85 | 28.12 | 21.15 | -45.0 | 0.00 | 0 | 20.33 | -11.38 |
| 2016 (3) | 17.26 | 44.92 | -1.55 | 0 | 7.15 | -9.36 | -2.54 | 0 | -2.51 | 0 | -5.76 | 0 | -0.89 | 0 | 0.78 | 11.43 | 7.65 | 0 | 193.14 | -1.9 | 61.54 | -36.43 | 38.46 | 1105.13 | 0.00 | 0 | 22.94 | -5.56 |
| 2015 (2) | 11.91 | -34.45 | -10.59 | 0 | 7.89 | 40.78 | -10.95 | 0 | -10.21 | 0 | -18.68 | 0 | -6.35 | 0 | 0.70 | -30.0 | -0.23 | 0 | 196.88 | 47.77 | 96.81 | -22.91 | 3.19 | 0 | 0.00 | 0 | 24.29 | 35.93 |
| 2014 (1) | 18.17 | 0 | 4.69 | 0 | 5.60 | -3.43 | 3.66 | 0 | 2.91 | 0 | 7.03 | 0 | 3.64 | 0 | 1.00 | 3.09 | 10.69 | -3.87 | 133.23 | -12.74 | 125.58 | 5.14 | -27.91 | 0 | 0.00 | 0 | 17.87 | -4.85 |
