- 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) | 12.29 | 29.92 | 16.49 | 4.77 | 122.9 | 52.4 | 5.91 | 26.82 | 135.46 | 3.88 | 28.05 | 462.32 | 1.43 | 31.19 | 472.0 | 0.99 | 22.22 | 280.77 | 0.21 | 5.0 | 5.0 | 11.01 | 9.66 | 42.62 | 82.62 | 12.99 | 8.11 | 80.69 | 75.55 | -35.17 | 19.10 | -64.66 | 178.06 | 7.99 | 7.39 | 5.97 |
| 23Q3 (19) | 9.46 | 4.65 | -32.43 | 2.14 | 76.86 | -64.45 | 4.66 | 91.77 | -38.68 | 3.03 | 98.04 | -40.35 | 1.09 | 91.23 | -49.3 | 0.81 | 58.82 | -40.0 | 0.20 | -4.76 | -16.67 | 10.04 | 25.81 | -17.02 | 73.12 | -9.61 | -2.79 | 45.96 | -8.08 | -41.89 | 54.04 | 8.08 | 160.41 | 7.44 | -5.58 | 16.25 |
| 23Q2 (18) | 9.04 | -19.72 | -50.55 | 1.21 | -68.65 | -88.08 | 2.43 | -52.17 | -80.36 | 1.53 | -59.95 | -83.44 | 0.57 | -62.0 | -86.33 | 0.51 | -50.0 | -78.93 | 0.21 | -4.55 | -16.0 | 7.98 | -22.07 | -51.13 | 80.89 | 1.01 | 3.88 | 50.00 | -34.19 | -39.08 | 50.00 | 108.08 | 178.89 | 7.88 | 6.49 | 13.06 |
| 23Q1 (17) | 11.26 | 6.73 | -47.68 | 3.86 | 23.32 | -66.75 | 5.08 | 102.39 | -60.31 | 3.82 | 453.62 | -58.57 | 1.50 | 500.0 | -62.69 | 1.02 | 292.31 | -57.85 | 0.22 | 10.0 | -15.38 | 10.24 | 32.64 | -38.97 | 80.08 | 4.79 | 3.12 | 75.97 | -38.96 | -16.23 | 24.03 | 198.21 | 158.02 | 7.40 | -1.86 | 5.56 |
| 22Q4 (16) | 10.55 | -24.64 | -49.35 | 3.13 | -48.01 | -73.54 | 2.51 | -66.97 | -78.45 | 0.69 | -86.42 | -92.13 | 0.25 | -88.37 | -93.09 | 0.26 | -80.74 | -88.5 | 0.20 | -16.67 | -20.0 | 7.72 | -36.2 | -50.51 | 76.42 | 1.6 | 21.03 | 124.47 | 57.36 | 22.53 | -24.47 | -217.91 | -1553.34 | 7.54 | 17.81 | 15.47 |
| 22Q3 (15) | 14.00 | -23.41 | -4.5 | 6.02 | -40.69 | 9.06 | 7.60 | -38.56 | -65.64 | 5.08 | -45.02 | -73.94 | 2.15 | -48.44 | -73.16 | 1.35 | -44.21 | -71.52 | 0.24 | -4.0 | 0.0 | 12.10 | -25.9 | -54.15 | 75.22 | -3.4 | 14.56 | 79.10 | -3.62 | 217.33 | 20.75 | 15.75 | -72.36 | 6.40 | -8.18 | -10.99 |
| 22Q2 (14) | 18.28 | -15.06 | -21.27 | 10.15 | -12.58 | -30.67 | 12.37 | -3.36 | -29.92 | 9.24 | 0.22 | -32.75 | 4.17 | 3.73 | -37.48 | 2.42 | 0.0 | -35.98 | 0.25 | -3.85 | -7.41 | 16.33 | -2.68 | -24.19 | 77.87 | 0.27 | 0.53 | 82.07 | -9.5 | -1.01 | 17.93 | 92.51 | 4.92 | 6.97 | -0.57 | 1.9 |
| 22Q1 (13) | 21.52 | 3.31 | -11.84 | 11.61 | -1.86 | -26.43 | 12.80 | 9.87 | -29.2 | 9.22 | 5.13 | -30.26 | 4.02 | 11.05 | -39.18 | 2.42 | 7.08 | -34.24 | 0.26 | 4.0 | -3.7 | 16.78 | 7.56 | -24.52 | 77.66 | 23.0 | -6.06 | 90.69 | -10.73 | 3.83 | 9.31 | 729.28 | -26.83 | 7.01 | 7.35 | 1.89 |
| 21Q4 (12) | 20.83 | 42.09 | 66.77 | 11.83 | 114.31 | 167.65 | 11.65 | -47.33 | 73.11 | 8.77 | -55.0 | 74.01 | 3.62 | -54.81 | 75.73 | 2.26 | -52.32 | 89.92 | 0.25 | 4.17 | 13.64 | 15.60 | -40.89 | 31.42 | 63.14 | -3.84 | -25.33 | 101.59 | 307.54 | 54.9 | -1.48 | -101.97 | -104.3 | 6.53 | -9.18 | -6.58 |
| 21Q3 (11) | 14.66 | -36.86 | 7.56 | 5.52 | -62.3 | 30.19 | 22.12 | 25.33 | 977.78 | 19.49 | 41.85 | 811.31 | 8.01 | 20.09 | 917.35 | 4.74 | 25.4 | 1130.43 | 0.24 | -11.11 | 26.32 | 26.39 | 22.52 | 842.5 | 65.66 | -15.23 | -22.78 | 24.93 | -69.94 | 114.77 | 75.07 | 339.34 | -72.07 | 7.19 | 5.12 | -8.17 |
| 21Q2 (10) | 23.22 | -4.88 | 109.19 | 14.64 | -7.22 | 708.84 | 17.65 | -2.38 | 1434.78 | 13.74 | 3.93 | 1697.67 | 6.67 | 0.91 | 2323.33 | 3.78 | 2.72 | 5500.0 | 0.27 | 0.0 | 50.0 | 21.54 | -3.1 | 210.37 | 77.46 | -6.3 | -12.46 | 82.91 | -5.07 | -46.94 | 17.09 | 34.26 | 129.56 | 6.84 | -0.58 | -25.0 |
| 21Q1 (9) | 24.41 | 95.44 | 108.28 | 15.78 | 257.01 | 407.4 | 18.08 | 168.65 | 598.07 | 13.22 | 162.3 | 805.48 | 6.61 | 220.87 | 1039.66 | 3.68 | 209.24 | 820.0 | 0.27 | 22.73 | 35.0 | 22.23 | 87.28 | 187.58 | 82.67 | -2.24 | -11.27 | 87.34 | 33.18 | -27.36 | 12.73 | -63.02 | 164.79 | 6.88 | -1.57 | -19.34 |
| 20Q4 (8) | 12.49 | -8.36 | 6.75 | 4.42 | 4.25 | 30.0 | 6.73 | 367.06 | 78.99 | 5.04 | 283.94 | 170.97 | 2.06 | 310.2 | 167.53 | 1.19 | 358.7 | 138.0 | 0.22 | 15.79 | 4.76 | 11.87 | 323.93 | 39.32 | 84.56 | -0.55 | -13.39 | 65.58 | 138.85 | -27.66 | 34.42 | -87.2 | 268.57 | 6.99 | -10.73 | -12.19 |
| 20Q3 (7) | 13.63 | 22.79 | 35.49 | 4.24 | 134.25 | 147.95 | -2.52 | -319.13 | -292.37 | -2.74 | -218.6 | -1153.85 | -0.98 | -226.67 | -990.91 | -0.46 | -557.14 | -370.59 | 0.19 | 5.56 | -13.64 | 2.80 | -59.65 | -53.18 | 85.03 | -3.91 | -4.18 | -168.79 | -208.03 | -230.17 | 268.79 | 564.94 | 973.58 | 7.83 | -14.14 | -2.0 |
| 20Q2 (6) | 11.10 | -5.29 | -16.6 | 1.81 | -41.8 | -67.03 | 1.15 | -55.6 | -82.73 | -0.86 | -158.9 | -117.77 | -0.30 | -151.72 | -114.22 | -0.07 | -117.5 | -105.56 | 0.18 | -10.0 | -25.0 | 6.94 | -10.22 | -38.2 | 88.49 | -5.02 | 2.03 | 156.25 | 29.95 | 89.22 | -57.81 | -194.32 | -428.04 | 9.12 | 6.92 | 24.76 |
| 20Q1 (5) | 11.72 | 0.17 | 1.82 | 3.11 | -8.53 | -25.95 | 2.59 | -31.12 | -51.22 | 1.46 | -21.51 | -63.77 | 0.58 | -24.68 | -67.23 | 0.40 | -20.0 | -63.96 | 0.20 | -4.76 | -16.67 | 7.73 | -9.27 | -21.52 | 93.17 | -4.57 | 11.34 | 120.24 | 32.62 | 52.48 | -19.64 | -310.34 | -194.01 | 8.53 | 7.16 | 15.11 |
| 19Q4 (4) | 11.70 | 16.3 | 0.0 | 3.40 | 98.83 | 0.0 | 3.76 | 187.02 | 0.0 | 1.86 | 615.38 | 0.0 | 0.77 | 600.0 | 0.0 | 0.50 | 194.12 | 0.0 | 0.21 | -4.55 | 0.0 | 8.52 | 42.47 | 0.0 | 97.63 | 10.02 | 0.0 | 90.66 | -30.08 | 0.0 | 9.34 | 130.35 | 0.0 | 7.96 | -0.38 | 0.0 |
| 19Q3 (3) | 10.06 | -24.42 | 0.0 | 1.71 | -68.85 | 0.0 | 1.31 | -80.33 | 0.0 | 0.26 | -94.63 | 0.0 | 0.11 | -94.79 | 0.0 | 0.17 | -86.51 | 0.0 | 0.22 | -8.33 | 0.0 | 5.98 | -46.75 | 0.0 | 88.74 | 2.32 | 0.0 | 129.67 | 57.03 | 0.0 | -30.77 | -274.59 | 0.0 | 7.99 | 9.3 | 0.0 |
| 19Q2 (2) | 13.31 | 15.64 | 0.0 | 5.49 | 30.71 | 0.0 | 6.66 | 25.42 | 0.0 | 4.84 | 20.1 | 0.0 | 2.11 | 19.21 | 0.0 | 1.26 | 13.51 | 0.0 | 0.24 | 0.0 | 0.0 | 11.23 | 14.01 | 0.0 | 86.73 | 3.64 | 0.0 | 82.57 | 4.72 | 0.0 | 17.62 | -15.66 | 0.0 | 7.31 | -1.35 | 0.0 |
| 19Q1 (1) | 11.51 | 0.0 | 0.0 | 4.20 | 0.0 | 0.0 | 5.31 | 0.0 | 0.0 | 4.03 | 0.0 | 0.0 | 1.77 | 0.0 | 0.0 | 1.11 | 0.0 | 0.0 | 0.24 | 0.0 | 0.0 | 9.85 | 0.0 | 0.0 | 83.68 | 0.0 | 0.0 | 78.86 | 0.0 | 0.0 | 20.90 | 0.0 | 0.0 | 7.41 | 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) | 10.53 | -35.36 | 3.02 | -61.77 | 3.76 | 8.32 | 4.53 | -50.06 | 3.08 | -50.88 | 4.66 | -55.15 | 3.34 | -48.77 | 0.84 | -14.29 | 9.83 | -26.91 | 82.62 | 8.11 | 66.57 | -23.62 | 33.43 | 160.37 | 1.95 | -18.03 | 7.68 | 10.34 |
| 2022 (9) | 16.29 | -22.06 | 7.90 | -34.55 | 3.47 | 3.73 | 9.07 | -47.6 | 6.27 | -54.3 | 10.39 | -58.12 | 6.52 | -55.53 | 0.98 | -6.67 | 13.45 | -37.09 | 76.42 | 21.03 | 87.16 | 25.0 | 12.84 | -57.59 | 2.37 | -12.75 | 6.96 | 1.46 |
| 2021 (8) | 20.90 | 70.89 | 12.07 | 252.92 | 3.34 | -21.15 | 17.31 | 697.7 | 13.72 | 1424.44 | 24.81 | 1765.41 | 14.66 | 1337.25 | 1.05 | 34.62 | 21.38 | 185.07 | 63.14 | -25.33 | 69.73 | -55.8 | 30.27 | 0 | 2.72 | -21.33 | 6.86 | -9.86 |
| 2020 (7) | 12.23 | 4.71 | 3.42 | -8.8 | 4.24 | 23.0 | 2.17 | -50.0 | 0.90 | -68.2 | 1.33 | -72.86 | 1.02 | -66.99 | 0.78 | -15.22 | 7.50 | -16.39 | 84.56 | -13.39 | 157.77 | 82.49 | -57.97 | 0 | 3.46 | -32.68 | 7.61 | 13.08 |
| 2019 (6) | 11.68 | -0.43 | 3.75 | -14.38 | 3.45 | 17.25 | 4.34 | -20.8 | 2.83 | -31.81 | 4.90 | -33.78 | 3.09 | -33.12 | 0.92 | -8.0 | 8.97 | -5.58 | 97.63 | 23.47 | 86.45 | 8.23 | 13.55 | -32.89 | 5.14 | -16.16 | 6.73 | -5.21 |
| 2018 (5) | 11.73 | 11.93 | 4.38 | 15.57 | 2.94 | 7.51 | 5.48 | 53.07 | 4.15 | 55.43 | 7.40 | 45.96 | 4.62 | 35.09 | 1.00 | -7.41 | 9.50 | 28.73 | 79.07 | 3.55 | 79.88 | -24.5 | 20.18 | 0 | 6.13 | 0 | 7.10 | 13.96 |
| 2017 (4) | 10.48 | -27.22 | 3.79 | -42.14 | 2.74 | -19.41 | 3.58 | -39.93 | 2.67 | -34.24 | 5.07 | -18.62 | 3.42 | -16.18 | 1.08 | 20.0 | 7.38 | -30.05 | 76.36 | 2.39 | 105.80 | -3.67 | -5.72 | 0 | 0.00 | 0 | 6.23 | -13.95 |
| 2016 (3) | 14.40 | 10.85 | 6.55 | 21.75 | 3.39 | -4.24 | 5.96 | 139.36 | 4.06 | 75.76 | 6.23 | 87.65 | 4.08 | 76.62 | 0.90 | 9.76 | 10.55 | 44.32 | 74.58 | 13.14 | 109.83 | -49.21 | -9.83 | 0 | 0.00 | 0 | 7.24 | 1.54 |
| 2015 (2) | 12.99 | 4.42 | 5.38 | -11.66 | 3.54 | 22.66 | 2.49 | -48.77 | 2.31 | -40.77 | 3.32 | -52.37 | 2.31 | -45.52 | 0.82 | -14.58 | 7.31 | -18.42 | 65.92 | -20.39 | 216.25 | 72.56 | -116.25 | 0 | 0.00 | 0 | 7.13 | 28.24 |
| 2014 (1) | 12.44 | 0 | 6.09 | 0 | 2.89 | 9.2 | 4.86 | 0 | 3.90 | 0 | 6.97 | 0 | 4.24 | 0 | 0.96 | -4.0 | 8.96 | -8.94 | 82.80 | -8.1 | 125.32 | 27.57 | -25.32 | 0 | 0.00 | 0 | 5.56 | 15.83 |
