- 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) | 24.15 | 8.98 | 232.64 | 9.98 | 18.53 | 201.94 | 6.50 | 630.34 | 119.05 | 4.67 | 1710.34 | 114.64 | 0.88 | 1566.67 | 119.21 | 0.31 | 287.5 | 125.41 | 0.05 | 0.0 | 25.0 | 17.78 | 51.84 | 192.56 | 301.78 | 7.64 | 15.23 | 153.12 | -83.66 | 433.37 | -53.91 | 93.6 | -175.61 | 18.43 | 4.36 | -7.39 |
| 23Q3 (19) | 22.16 | 11.69 | 22.7 | 8.42 | 42.95 | 506.76 | 0.89 | -82.45 | 115.81 | -0.29 | -105.75 | 93.24 | -0.06 | -105.94 | 91.67 | 0.08 | -77.78 | 157.14 | 0.05 | 0.0 | 0.0 | 11.71 | -28.25 | 83.54 | 280.36 | 0.07 | 15.58 | 936.84 | 705.22 | 2439.34 | -842.11 | -5051.7 | -1434.41 | 17.66 | -1.89 | -16.66 |
| 23Q2 (18) | 19.84 | 68.56 | -2.22 | 5.89 | 286.98 | 188.73 | 5.07 | 265.15 | 177.17 | 5.04 | 256.04 | 168.29 | 1.01 | 287.04 | 166.89 | 0.36 | 700.0 | 192.31 | 0.05 | 0.0 | -16.67 | 16.32 | 60.63 | 457.0 | 280.16 | 4.49 | 18.22 | 116.35 | 14.19 | 474.33 | -16.35 | -766.35 | -112.47 | 18.00 | -9.86 | 21.38 |
| 23Q1 (17) | 11.77 | 62.12 | 20.97 | -3.15 | 67.82 | 78.83 | -3.07 | 91.0 | 81.55 | -3.23 | 89.87 | 80.16 | -0.54 | 88.21 | 79.39 | -0.06 | 95.08 | 91.89 | 0.05 | 25.0 | 0.0 | 10.16 | 152.89 | 313.0 | 268.11 | 2.37 | 18.56 | 101.89 | 254.89 | 14.05 | -1.89 | -102.65 | -117.69 | 19.97 | 0.35 | -4.54 |
| 22Q4 (16) | 7.26 | -59.8 | -42.7 | -9.79 | -372.95 | 16.25 | -34.12 | -506.04 | -8.7 | -31.89 | -643.36 | -5.74 | -4.58 | -536.11 | 2.35 | -1.22 | -771.43 | 13.48 | 0.04 | -20.0 | -20.0 | -19.21 | -401.1 | 1.03 | 261.90 | 7.97 | 13.0 | 28.71 | -22.18 | -22.71 | 71.29 | 12.97 | 13.74 | 19.90 | -6.09 | 16.51 |
| 22Q3 (15) | 18.06 | -10.99 | 51.0 | -2.07 | -201.47 | 88.91 | -5.63 | 14.31 | 14.18 | -4.29 | 41.87 | 37.74 | -0.72 | 52.32 | 43.75 | -0.14 | 64.1 | 62.16 | 0.05 | -16.67 | -16.67 | 6.38 | 117.75 | 77.22 | 242.57 | 2.36 | 16.55 | 36.89 | 218.7 | -87.03 | 63.11 | -51.86 | 134.2 | 21.19 | 42.89 | 9.62 |
| 22Q2 (14) | 20.29 | 108.53 | 39.83 | 2.04 | 113.71 | 113.71 | -6.57 | 60.52 | -151.81 | -7.38 | 54.67 | -159.52 | -1.51 | 42.37 | -169.59 | -0.39 | 47.3 | -150.65 | 0.06 | 20.0 | 0.0 | 2.93 | 161.43 | -87.7 | 236.98 | 4.79 | 18.79 | -31.08 | -134.79 | 73.58 | 131.08 | 1128.89 | -39.77 | 14.83 | -29.11 | -46.09 |
| 22Q1 (13) | 9.73 | -23.2 | -62.04 | -14.88 | -27.29 | -580.0 | -16.64 | 46.99 | -253.79 | -16.28 | 46.02 | -275.05 | -2.62 | 44.14 | -235.75 | -0.74 | 47.52 | -207.25 | 0.05 | 0.0 | -28.57 | -4.77 | 75.43 | -123.22 | 226.14 | -2.43 | 8.78 | 89.33 | 140.51 | 212.67 | 10.67 | -82.98 | -85.07 | 20.92 | 22.48 | 25.8 |
| 21Q4 (12) | 12.67 | 5.94 | -58.74 | -11.69 | 37.39 | -181.24 | -31.39 | -378.51 | -386.41 | -30.16 | -337.74 | -549.48 | -4.69 | -266.41 | -387.73 | -1.41 | -281.08 | -331.15 | 0.05 | -16.67 | -37.5 | -19.41 | -639.17 | -199.59 | 231.78 | 11.36 | 17.73 | 37.14 | -86.94 | -71.67 | 62.68 | 133.97 | 299.3 | 17.08 | -11.64 | -4.04 |
| 21Q3 (11) | 11.96 | -17.57 | -52.97 | -18.67 | -25.47 | -233.64 | -6.56 | -151.74 | -163.38 | -6.89 | -155.56 | -190.3 | -1.28 | -158.99 | -159.26 | -0.37 | -148.05 | -145.68 | 0.06 | 0.0 | -40.0 | 3.60 | -84.89 | -79.83 | 208.13 | 4.33 | 7.81 | 284.51 | 341.88 | 110.62 | -184.51 | -184.78 | -425.93 | 19.33 | -29.73 | 20.36 |
| 21Q2 (10) | 14.51 | -43.39 | -19.48 | -14.88 | -580.0 | -387.81 | 12.68 | 17.19 | -60.04 | 12.40 | 33.33 | -57.53 | 2.17 | 12.44 | -61.59 | 0.77 | 11.59 | -61.88 | 0.06 | -14.29 | -14.29 | 23.82 | 15.97 | -44.49 | 199.50 | -4.04 | 6.86 | -117.62 | -511.68 | -819.58 | 217.62 | 204.67 | 160.15 | 27.51 | 65.42 | 0 |
| 21Q1 (9) | 25.63 | -16.54 | 30.17 | 3.10 | -78.46 | -52.6 | 10.82 | -1.28 | 360.72 | 9.30 | 38.6 | 258.97 | 1.93 | 18.4 | 255.65 | 0.69 | 13.11 | 281.58 | 0.07 | -12.5 | -12.5 | 20.54 | 5.39 | 233.98 | 207.89 | 5.59 | 9.55 | 28.57 | -78.21 | 118.06 | 71.43 | 327.13 | -72.34 | 16.63 | -6.57 | 4.2 |
| 20Q4 (8) | 30.71 | 20.76 | 81.07 | 14.39 | 3.01 | 306.5 | 10.96 | 5.89 | 102.59 | 6.71 | -12.06 | 42.77 | 1.63 | -24.54 | 42.98 | 0.61 | -24.69 | 15.09 | 0.08 | -20.0 | -11.11 | 19.49 | 9.19 | 33.13 | 196.88 | 1.98 | 24.51 | 131.10 | -2.95 | 100.92 | -31.45 | 10.36 | -190.5 | 17.80 | 10.83 | 7.36 |
| 20Q3 (7) | 25.43 | 41.12 | 42.15 | 13.97 | 170.21 | 118.62 | 10.35 | -67.38 | -40.82 | 7.63 | -73.87 | -50.74 | 2.16 | -61.77 | -43.9 | 0.81 | -59.9 | -52.35 | 0.10 | 42.86 | 0.0 | 17.85 | -58.4 | -34.3 | 193.05 | 3.41 | 22.24 | 135.08 | 726.38 | 270.49 | -35.08 | -141.94 | -155.21 | 16.06 | 0 | -4.74 |
| 20Q2 (6) | 18.02 | -8.48 | -15.56 | 5.17 | -20.95 | -47.51 | 31.73 | 864.58 | 101.2 | 29.20 | 599.15 | 136.82 | 5.65 | 555.65 | 60.06 | 2.02 | 631.58 | 19.53 | 0.07 | -12.5 | -46.15 | 42.91 | 597.72 | 78.42 | 186.69 | -1.62 | 49.92 | 16.35 | 110.33 | -73.85 | 83.65 | -67.61 | 123.08 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 19.69 | 16.1 | 12.9 | 6.54 | 84.75 | 22.01 | -4.15 | -176.71 | -147.76 | -5.85 | -224.47 | -173.86 | -1.24 | -208.77 | -160.49 | -0.38 | -171.7 | -136.89 | 0.08 | -11.11 | -33.33 | 6.15 | -57.99 | -65.78 | 189.77 | 20.02 | 55.78 | -158.24 | -342.52 | -356.87 | 258.24 | 643.1 | 572.56 | 15.96 | -3.74 | 7.26 |
| 19Q4 (4) | 16.96 | -5.2 | 0.0 | 3.54 | -44.6 | 0.0 | 5.41 | -69.07 | 0.0 | 4.70 | -69.66 | 0.0 | 1.14 | -70.39 | 0.0 | 0.53 | -68.82 | 0.0 | 0.09 | -10.0 | 0.0 | 14.64 | -46.12 | 0.0 | 158.12 | 0.12 | 0.0 | 65.25 | 78.96 | 0.0 | 34.75 | -45.31 | 0.0 | 16.58 | -1.66 | 0.0 |
| 19Q3 (3) | 17.89 | -16.17 | 0.0 | 6.39 | -35.13 | 0.0 | 17.49 | 10.91 | 0.0 | 15.49 | 25.63 | 0.0 | 3.85 | 9.07 | 0.0 | 1.70 | 0.59 | 0.0 | 0.10 | -23.08 | 0.0 | 27.17 | 12.97 | 0.0 | 157.93 | 26.82 | 0.0 | 36.46 | -41.66 | 0.0 | 63.54 | 69.44 | 0.0 | 16.86 | 9.41 | 0.0 |
| 19Q2 (2) | 21.34 | 22.36 | 0.0 | 9.85 | 83.77 | 0.0 | 15.77 | 81.47 | 0.0 | 12.33 | 55.68 | 0.0 | 3.53 | 72.2 | 0.0 | 1.69 | 64.08 | 0.0 | 0.13 | 8.33 | 0.0 | 24.05 | 33.83 | 0.0 | 124.53 | 2.22 | 0.0 | 62.50 | 1.46 | 0.0 | 37.50 | -2.34 | 0.0 | 15.41 | 3.56 | 0.0 |
| 19Q1 (1) | 17.44 | 0.0 | 0.0 | 5.36 | 0.0 | 0.0 | 8.69 | 0.0 | 0.0 | 7.92 | 0.0 | 0.0 | 2.05 | 0.0 | 0.0 | 1.03 | 0.0 | 0.0 | 0.12 | 0.0 | 0.0 | 17.97 | 0.0 | 0.0 | 121.82 | 0.0 | 0.0 | 61.60 | 0.0 | 0.0 | 38.40 | 0.0 | 0.0 | 14.88 | 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) | 19.79 | 36.48 | 5.63 | 0 | 9.30 | -8.0 | 2.53 | 0 | 1.71 | 0 | 1.30 | 0 | 0.70 | 0 | 0.20 | 0.0 | 14.09 | 0 | 301.78 | 15.23 | 223.23 | 484.01 | -123.23 | 0 | 0.00 | -10.34 | 18.45 | -2.54 |
| 2022 (9) | 14.50 | -11.85 | -5.52 | 0 | 10.11 | 6.15 | -14.44 | 0 | -13.81 | 0 | -9.49 | 0 | -2.47 | 0 | 0.20 | -13.04 | -2.63 | 0 | 261.90 | 13.0 | 38.22 | -89.93 | 61.78 | 0 | 0.01 | 0.02 | 18.93 | -5.59 |
| 2021 (8) | 16.45 | -31.57 | -10.29 | 0 | 9.52 | 17.12 | -2.72 | 0 | -3.01 | 0 | -2.21 | 0 | -0.49 | 0 | 0.23 | -28.12 | 7.96 | -61.56 | 231.78 | 17.73 | 379.45 | 313.38 | -279.45 | 0 | 0.01 | -14.2 | 20.05 | 13.02 |
| 2020 (7) | 24.04 | 29.81 | 10.61 | 65.01 | 8.13 | 3.22 | 11.56 | -3.83 | 8.71 | -14.77 | 7.86 | -27.02 | 3.10 | -36.34 | 0.32 | -27.27 | 20.71 | -1.85 | 196.88 | 24.51 | 91.79 | 71.39 | 8.21 | -82.33 | 0.01 | -13.69 | 17.74 | 11.57 |
| 2019 (6) | 18.52 | 18.49 | 6.43 | 57.99 | 7.87 | -6.22 | 12.02 | 268.71 | 10.22 | 480.68 | 10.77 | 526.16 | 4.87 | 305.83 | 0.44 | 0.0 | 21.10 | 63.57 | 158.12 | 25.78 | 53.56 | -57.25 | 46.44 | 0 | 0.01 | -15.29 | 15.90 | -0.38 |
| 2018 (5) | 15.63 | -16.42 | 4.07 | -49.75 | 8.40 | 6.49 | 3.26 | -55.28 | 1.76 | -68.52 | 1.72 | -69.61 | 1.20 | -61.54 | 0.44 | -10.2 | 12.90 | -20.52 | 125.71 | 6.56 | 125.29 | 12.86 | -25.00 | 0 | 0.01 | 0 | 15.96 | 5.98 |
| 2017 (4) | 18.70 | -16.44 | 8.10 | -21.28 | 7.88 | -12.14 | 7.29 | -51.53 | 5.59 | -43.76 | 5.66 | -35.46 | 3.12 | -34.73 | 0.49 | 8.89 | 16.23 | -34.92 | 117.97 | 20.05 | 111.02 | 62.24 | -11.14 | 0 | 0.00 | 0 | 15.06 | -4.8 |
| 2016 (3) | 22.38 | 11.18 | 10.29 | 17.2 | 8.97 | -3.23 | 15.04 | 46.87 | 9.94 | 33.24 | 8.77 | 25.64 | 4.78 | 15.74 | 0.45 | -10.0 | 24.94 | 21.01 | 98.27 | 3.22 | 68.43 | -20.17 | 31.57 | 121.01 | 0.00 | 0 | 15.82 | 12.92 |
| 2015 (2) | 20.13 | 17.65 | 8.78 | 62.29 | 9.27 | 2.31 | 10.24 | 129.6 | 7.46 | 175.28 | 6.98 | 137.41 | 4.13 | 92.99 | 0.50 | -16.67 | 20.61 | 41.26 | 95.20 | 17.41 | 85.71 | -29.3 | 14.29 | 0 | 0.00 | 0 | 14.01 | 13.26 |
| 2014 (1) | 17.11 | 0 | 5.41 | 0 | 9.06 | 3.76 | 4.46 | 0 | 2.71 | 0 | 2.94 | 0 | 2.14 | 0 | 0.60 | -6.25 | 14.59 | 1.53 | 81.08 | 2.31 | 121.23 | 11.54 | -21.23 | 0 | 0.00 | 0 | 12.37 | 20.92 |
