- 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) | 23.93 | 8.82 | 100.42 | 7.50 | 16.28 | 310.67 | 6.06 | -6.91 | 210.38 | 5.17 | 7.71 | 180.16 | 2.24 | 1.36 | 182.35 | 1.23 | 3.36 | 236.67 | 0.19 | -5.0 | 11.76 | 12.93 | -2.12 | 427.76 | 123.40 | -4.03 | -12.13 | 123.70 | 24.99 | 91.17 | -23.70 | -2402.79 | -167.57 | 21.51 | 19.97 | 8.8 |
| 23Q3 (19) | 21.99 | 19.58 | 59.0 | 6.45 | 96.05 | 6350.0 | 6.51 | 7.07 | 112.75 | 4.80 | 7.87 | 115.25 | 2.21 | 6.76 | 88.89 | 1.19 | 8.18 | 91.94 | 0.20 | 5.26 | 0.0 | 13.21 | 2.56 | 58.2 | 128.58 | -9.2 | -12.12 | 98.97 | 83.06 | 2752.16 | 1.03 | -97.75 | -98.93 | 17.93 | 0.67 | 12.91 |
| 23Q2 (18) | 18.39 | 43.56 | 13.03 | 3.29 | 228.02 | 11.9 | 6.08 | 253.15 | 8.77 | 4.45 | 196.32 | 1.37 | 2.07 | 203.5 | -14.11 | 1.10 | 289.66 | 6.8 | 0.19 | 5.56 | -9.52 | 12.88 | 301.25 | 21.39 | 141.61 | -2.64 | -14.11 | 54.06 | -16.47 | 2.51 | 45.75 | 29.68 | -3.2 | 17.81 | -3.05 | 14.61 |
| 23Q1 (17) | 12.81 | 7.29 | -21.36 | -2.57 | 27.81 | -216.29 | -3.97 | 27.69 | -239.79 | -4.62 | 28.37 | -333.33 | -2.00 | 26.47 | -300.0 | -0.58 | 35.56 | -216.0 | 0.18 | 5.88 | -10.0 | 3.21 | 31.02 | -59.47 | 145.45 | 3.57 | -10.81 | 64.72 | 0.03 | -16.7 | 35.28 | 0.57 | 60.83 | 18.37 | -7.08 | 9.74 |
| 22Q4 (16) | 11.94 | -13.67 | -33.85 | -3.56 | -3660.0 | -784.62 | -5.49 | -279.41 | -4890.91 | -6.45 | -389.24 | -31.63 | -2.72 | -332.48 | -27.1 | -0.90 | -245.16 | -12.5 | 0.17 | -15.0 | -5.56 | 2.45 | -70.66 | -56.71 | 140.43 | -4.02 | -4.66 | 64.71 | 1764.71 | 113.54 | 35.08 | -63.66 | -93.93 | 19.77 | 24.5 | -3.33 |
| 22Q3 (15) | 13.83 | -15.0 | -17.58 | 0.10 | -96.6 | -96.0 | 3.06 | -45.26 | -6.71 | 2.23 | -49.2 | -8.98 | 1.17 | -51.45 | 2.63 | 0.62 | -39.81 | 8.77 | 0.20 | -4.76 | 0.0 | 8.35 | -21.3 | 2.33 | 146.31 | -11.26 | 7.56 | 3.47 | -93.42 | -95.44 | 96.53 | 104.25 | 304.05 | 15.88 | 2.19 | -3.17 |
| 22Q2 (14) | 16.27 | -0.12 | -27.69 | 2.94 | 33.03 | -59.73 | 5.59 | 96.83 | -10.13 | 4.39 | 121.72 | -4.77 | 2.41 | 141.0 | 8.07 | 1.03 | 106.0 | -0.96 | 0.21 | 5.0 | 0.0 | 10.61 | 33.96 | -1.94 | 164.88 | 1.1 | 22.05 | 52.74 | -32.12 | -55.06 | 47.26 | 115.47 | 372.1 | 15.54 | -7.17 | -10.38 |
| 22Q1 (13) | 16.29 | -9.75 | -33.65 | 2.21 | 325.0 | -76.54 | 2.84 | 2681.82 | -70.69 | 1.98 | 140.41 | -75.16 | 1.00 | 146.73 | -72.22 | 0.50 | 162.5 | -69.88 | 0.20 | 11.11 | 0.0 | 7.92 | 39.93 | -45.6 | 163.08 | 10.72 | 22.11 | 77.70 | 116.26 | -20.09 | 21.93 | -96.2 | 691.5 | 16.74 | -18.14 | -4.23 |
| 21Q4 (12) | 18.05 | 7.57 | -33.83 | 0.52 | -79.2 | -93.65 | -0.11 | -103.35 | -102.12 | -4.90 | -300.0 | -210.61 | -2.14 | -287.72 | -211.46 | -0.80 | -240.35 | -180.0 | 0.18 | -10.0 | -5.26 | 5.66 | -30.64 | -47.79 | 147.29 | 8.28 | 20.91 | -477.78 | -727.75 | -402.17 | 577.78 | 2318.41 | 1098.19 | 20.45 | 24.7 | 5.47 |
| 21Q3 (11) | 16.78 | -25.42 | -36.05 | 2.50 | -65.75 | -75.85 | 3.28 | -47.27 | -64.96 | 2.45 | -46.85 | -69.6 | 1.14 | -48.88 | -69.11 | 0.57 | -45.19 | -67.24 | 0.20 | -4.76 | 0.0 | 8.16 | -24.58 | -43.45 | 136.03 | 0.7 | 7.99 | 76.11 | -35.15 | -31.19 | 23.89 | 237.55 | 328.13 | 16.40 | -5.42 | -8.94 |
| 21Q2 (10) | 22.50 | -8.35 | -3.89 | 7.30 | -22.51 | -4.2 | 6.22 | -35.81 | -17.07 | 4.61 | -42.16 | -27.06 | 2.23 | -38.06 | -13.23 | 1.04 | -37.35 | -16.8 | 0.21 | 5.0 | 16.67 | 10.82 | -25.69 | -18.28 | 135.09 | 1.15 | 8.93 | 117.37 | 20.71 | 15.67 | -17.37 | -726.77 | -1085.39 | 17.34 | -0.8 | -3.18 |
| 21Q1 (9) | 24.55 | -10.01 | 29.69 | 9.42 | 15.02 | 208.78 | 9.69 | 87.07 | 234.4 | 7.97 | 79.91 | 197.55 | 3.60 | 87.5 | 225.44 | 1.66 | 66.0 | 244.35 | 0.20 | 5.26 | 25.0 | 14.56 | 34.32 | 2954.9 | 133.55 | 9.63 | 5.98 | 97.23 | -38.51 | -19.03 | 2.77 | 104.79 | 113.8 | 17.48 | -9.85 | -43.04 |
| 20Q4 (8) | 27.28 | 3.96 | 27.3 | 8.19 | -20.87 | 159.18 | 5.18 | -44.66 | 252.38 | 4.43 | -45.04 | 403.41 | 1.92 | -47.97 | 448.57 | 1.00 | -42.53 | 244.83 | 0.19 | -5.0 | 5.56 | 10.84 | -24.88 | 45.7 | 121.82 | -3.29 | -1.53 | 158.12 | 42.96 | -25.99 | -57.88 | -452.71 | 49.47 | 19.39 | 7.66 | 0 |
| 20Q3 (7) | 26.24 | 12.09 | 23.25 | 10.35 | 35.83 | 97.14 | 9.36 | 24.8 | 19.54 | 8.06 | 27.53 | 33.67 | 3.69 | 43.58 | 38.72 | 1.74 | 39.2 | 31.82 | 0.20 | 11.11 | 0.0 | 14.43 | 8.99 | 10.32 | 125.96 | 1.57 | 2.35 | 110.60 | 9.0 | 65.27 | -10.47 | -614.75 | -131.66 | 18.01 | 0.56 | -0.28 |
| 20Q2 (6) | 23.41 | 23.67 | 9.7 | 7.62 | 187.99 | 44.32 | 7.50 | 204.02 | 4.75 | 6.32 | 177.36 | 9.15 | 2.57 | 189.55 | -2.65 | 1.25 | 208.7 | -8.09 | 0.18 | 12.5 | -14.29 | 13.24 | 2696.08 | 7.99 | 124.01 | -1.59 | 0.35 | 101.47 | -15.51 | 37.72 | -1.47 | 92.71 | -105.57 | 17.91 | -41.64 | 1.47 |
| 20Q1 (5) | 18.93 | -11.67 | 8.86 | -8.66 | -374.05 | -637.89 | -7.21 | -590.48 | -2904.17 | -8.17 | -1028.41 | -975.0 | -2.87 | -920.0 | -856.67 | -1.15 | -496.55 | -5650.0 | 0.16 | -11.11 | -15.79 | -0.51 | -106.85 | -109.55 | 126.02 | 1.87 | 13.26 | 120.09 | -43.79 | 117.57 | -20.09 | 82.46 | -102.56 | 30.69 | 0 | 65.62 |
| 19Q4 (4) | 21.43 | 0.66 | 0.0 | 3.16 | -39.81 | 0.0 | 1.47 | -81.23 | 0.0 | 0.88 | -85.41 | 0.0 | 0.35 | -86.84 | 0.0 | 0.29 | -78.03 | 0.0 | 0.18 | -10.0 | 0.0 | 7.44 | -43.12 | 0.0 | 123.71 | 0.52 | 0.0 | 213.64 | 219.23 | 0.0 | -114.55 | -446.29 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 21.29 | -0.23 | 0.0 | 5.25 | -0.57 | 0.0 | 7.83 | 9.36 | 0.0 | 6.03 | 4.15 | 0.0 | 2.66 | 0.76 | 0.0 | 1.32 | -2.94 | 0.0 | 0.20 | -4.76 | 0.0 | 13.08 | 6.69 | 0.0 | 123.07 | -0.41 | 0.0 | 66.92 | -9.17 | 0.0 | 33.08 | 25.66 | 0.0 | 18.06 | 2.32 | 0.0 |
| 19Q2 (2) | 21.34 | 22.71 | 0.0 | 5.28 | 227.95 | 0.0 | 7.16 | 3083.33 | 0.0 | 5.79 | 861.84 | 0.0 | 2.64 | 980.0 | 0.0 | 1.36 | 6900.0 | 0.0 | 0.21 | 10.53 | 0.0 | 12.26 | 129.59 | 0.0 | 123.58 | 11.06 | 0.0 | 73.68 | 110.78 | 0.0 | 26.32 | -96.64 | 0.0 | 17.65 | -4.75 | 0.0 |
| 19Q1 (1) | 17.39 | 0.0 | 0.0 | 1.61 | 0.0 | 0.0 | -0.24 | 0.0 | 0.0 | -0.76 | 0.0 | 0.0 | -0.30 | 0.0 | 0.0 | -0.02 | 0.0 | 0.0 | 0.19 | 0.0 | 0.0 | 5.34 | 0.0 | 0.0 | 111.27 | 0.0 | 0.0 | -683.33 | 0.0 | 0.0 | 783.33 | 0.0 | 0.0 | 18.53 | 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) | 19.37 | 31.95 | 3.76 | 526.67 | 5.22 | 10.16 | 3.79 | 105.98 | 2.56 | 190.91 | 4.52 | 155.37 | 2.94 | 114.6 | 0.76 | -8.43 | 10.67 | 40.77 | 123.40 | -12.13 | 99.23 | 205.43 | 0.77 | -98.87 | 0.00 | 0 | 18.89 | 12.17 |
| 2022 (9) | 14.68 | -28.36 | 0.60 | -87.98 | 4.74 | 7.39 | 1.84 | -61.83 | 0.88 | -66.54 | 1.77 | -63.51 | 1.37 | -43.15 | 0.83 | 5.06 | 7.58 | -22.89 | 140.43 | -4.66 | 32.49 | -68.59 | 67.65 | 0 | 0.00 | 0 | 16.84 | -5.76 |
| 2021 (8) | 20.49 | -15.64 | 4.99 | -1.77 | 4.41 | -9.21 | 4.82 | 12.88 | 2.63 | -18.07 | 4.85 | -5.46 | 2.41 | -12.68 | 0.79 | 9.72 | 9.83 | -1.7 | 147.29 | 20.91 | 103.45 | -13.05 | -3.45 | 0 | 0.00 | 0 | 17.87 | -15.11 |
| 2020 (7) | 24.29 | 19.01 | 5.08 | 30.26 | 4.86 | 7.63 | 4.27 | 0.47 | 3.21 | 1.9 | 5.13 | -4.29 | 2.76 | -8.61 | 0.72 | -7.69 | 10.00 | 2.99 | 121.82 | -1.53 | 118.98 | 29.6 | -18.90 | 0 | 0.00 | 0 | 21.05 | 11.08 |
| 2019 (6) | 20.41 | 13.77 | 3.90 | 115.47 | 4.51 | 18.47 | 4.25 | 15.49 | 3.15 | 43.84 | 5.36 | 43.7 | 3.02 | 37.9 | 0.78 | 0.0 | 9.71 | 15.87 | 123.71 | 11.32 | 91.81 | 87.0 | 8.19 | -83.9 | 0.18 | 8.78 | 18.95 | 5.98 |
| 2018 (5) | 17.94 | -9.62 | 1.81 | -53.11 | 3.81 | 8.91 | 3.68 | 70.37 | 2.19 | 102.78 | 3.73 | 127.44 | 2.19 | 82.5 | 0.78 | 5.41 | 8.38 | 30.12 | 111.13 | -1.93 | 49.10 | -72.56 | 50.90 | 0 | 0.16 | 0.46 | 17.88 | 3.17 |
| 2017 (4) | 19.85 | -26.56 | 3.86 | -66.02 | 3.50 | -3.4 | 2.16 | -83.23 | 1.08 | -89.7 | 1.64 | -88.54 | 1.20 | -84.65 | 0.74 | 4.23 | 6.44 | -62.6 | 113.32 | 20.03 | 178.91 | 102.88 | -78.91 | 0 | 0.16 | 0 | 17.33 | 0.0 |
| 2016 (3) | 27.03 | -1.67 | 11.36 | -4.86 | 3.62 | 1.09 | 12.88 | -6.26 | 10.49 | -5.5 | 14.31 | -13.59 | 7.82 | -14.16 | 0.71 | -10.13 | 17.22 | -4.23 | 94.41 | 6.98 | 88.18 | 1.45 | 11.82 | -9.62 | 0.00 | 0 | 17.33 | 9.89 |
| 2015 (2) | 27.49 | 3.93 | 11.94 | -7.51 | 3.58 | 9.11 | 13.74 | -0.07 | 11.10 | 0.45 | 16.56 | -16.74 | 9.11 | -15.02 | 0.79 | -15.96 | 17.98 | 2.22 | 88.25 | -2.49 | 86.93 | -7.41 | 13.07 | 113.76 | 0.00 | 0 | 15.77 | 16.13 |
| 2014 (1) | 26.45 | 0 | 12.91 | 0 | 3.28 | 10.86 | 13.75 | 0 | 11.05 | 0 | 19.89 | 0 | 10.72 | 0 | 0.94 | -12.15 | 17.59 | 5.14 | 90.50 | -2.37 | 93.88 | -3.54 | 6.12 | 126.77 | 0.00 | 0 | 13.58 | 14.7 |
