- 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) | 36.29 | 3.27 | 62.81 | 27.67 | 29.3 | 985.1 | 23.86 | -9.89 | 176.45 | 22.55 | -4.81 | 188.43 | 6.05 | 5.58 | 208.42 | 3.96 | 5.88 | 223.75 | 0.17 | 13.33 | 30.77 | 27.07 | -12.62 | 213.36 | 62.41 | 16.89 | -10.79 | 114.55 | 43.92 | 1703.64 | -16.36 | -189.09 | -115.27 | 19.05 | 33.68 | -34.49 |
| 23Q3 (19) | 35.14 | 25.54 | 74.39 | 21.40 | 84.17 | 291.22 | 26.48 | 39.3 | 125.36 | 23.69 | 73.68 | 143.47 | 5.73 | 116.23 | 155.8 | 3.74 | 118.71 | 159.72 | 0.15 | 25.0 | 7.14 | 30.98 | 32.9 | 84.62 | 53.39 | -11.87 | -19.5 | 79.59 | 32.65 | 69.13 | 18.37 | -54.08 | -65.31 | 14.25 | -38.37 | -33.72 |
| 23Q2 (18) | 27.99 | -1.96 | 250.75 | 11.62 | 18.94 | -91.24 | 19.01 | 49.69 | -85.86 | 13.64 | 21.03 | -88.49 | 2.65 | 31.19 | -88.7 | 1.71 | 29.55 | -86.37 | 0.12 | 9.09 | 20.0 | 23.31 | 8.77 | -83.71 | 60.58 | -13.0 | -13.62 | 60.00 | -23.64 | -39.17 | 40.00 | 86.67 | 2820.0 | 23.12 | -22.75 | -28.73 |
| 23Q1 (17) | 28.55 | 28.08 | 105.99 | 9.77 | 283.14 | 421.38 | 12.70 | 140.69 | 3442.11 | 11.27 | 144.2 | 2848.78 | 2.02 | 136.2 | 2120.0 | 1.32 | 141.25 | 2100.0 | 0.11 | -15.38 | 0.0 | 21.43 | 189.74 | 216.08 | 69.63 | -0.47 | -37.64 | 78.57 | 1200.0 | 0 | 21.43 | -80.0 | 0 | 29.93 | 2.92 | 4.61 |
| 22Q4 (16) | 22.29 | 10.62 | 18.94 | 2.55 | -53.38 | 268.87 | -31.21 | -365.62 | -569.74 | -25.50 | -362.08 | -389.44 | -5.58 | -349.11 | -269.54 | -3.20 | -322.22 | -451.72 | 0.13 | -7.14 | -7.14 | -23.88 | -242.31 | -567.32 | 69.96 | 5.49 | -41.14 | -7.14 | -115.18 | -121.43 | 107.14 | 102.38 | 60.71 | 29.08 | 35.26 | 14.44 |
| 22Q3 (15) | 20.15 | 152.51 | 38.87 | 5.47 | -95.88 | 327.92 | 11.75 | -91.26 | 983.46 | 9.73 | -91.79 | 924.58 | 2.24 | -90.45 | 800.0 | 1.44 | -88.53 | 2157.14 | 0.14 | 40.0 | 0.0 | 16.78 | -88.28 | 211.9 | 66.32 | -5.43 | -29.24 | 47.06 | -52.29 | -68.63 | 52.94 | 3764.71 | 205.88 | 21.50 | -33.72 | -20.13 |
| 22Q2 (14) | 7.98 | -42.42 | -53.44 | 132.69 | 4464.8 | 3438.4 | 134.47 | 35486.84 | 11013.22 | 118.49 | 29000.0 | 7081.21 | 23.46 | 23560.0 | 4500.0 | 12.55 | 20816.67 | 3037.5 | 0.10 | -9.09 | -37.5 | 143.12 | 2010.91 | 1852.52 | 70.13 | -37.19 | -23.61 | 98.63 | 0 | -67.12 | 1.37 | 0 | 100.68 | 32.44 | 13.39 | 25.15 |
| 22Q1 (13) | 13.86 | -26.04 | 6.13 | -3.04 | -101.32 | -484.62 | -0.38 | 91.85 | 32.14 | -0.41 | 92.13 | 64.35 | -0.10 | 93.38 | 71.43 | 0.06 | 110.34 | 220.0 | 0.11 | -21.43 | -31.25 | 6.78 | 32.68 | 10.78 | 111.65 | -6.06 | 27.03 | 0.00 | -100.0 | -100.0 | 0.00 | -100.0 | 0 | 28.61 | 12.59 | 11.02 |
| 21Q4 (12) | 18.74 | 29.15 | 105.26 | -1.51 | 37.08 | 67.39 | -4.66 | -250.38 | 28.42 | -5.21 | -341.53 | -498.85 | -1.51 | -371.87 | -439.29 | -0.58 | -728.57 | -1833.33 | 0.14 | 0.0 | -17.65 | 5.11 | -5.02 | 0 | 118.85 | 26.8 | 34.37 | 33.33 | -77.78 | -52.38 | 66.67 | 233.33 | 122.22 | 25.41 | -5.61 | 1.93 |
| 21Q3 (11) | 14.51 | -15.34 | 14.52 | -2.40 | -164.0 | 55.06 | -1.33 | -209.92 | 78.89 | -1.18 | -171.52 | 85.73 | -0.32 | -162.75 | 84.69 | -0.07 | -117.5 | 93.2 | 0.14 | -12.5 | 0.0 | 5.38 | -26.6 | 120.49 | 93.73 | 2.1 | 8.85 | 150.00 | -50.0 | 71.43 | -50.00 | 75.0 | -500.0 | 26.92 | 3.86 | -0.26 |
| 21Q2 (10) | 17.14 | 31.24 | 7.46 | 3.75 | 821.15 | 204.46 | 1.21 | 316.07 | 175.16 | 1.65 | 243.48 | 215.38 | 0.51 | 245.71 | 270.0 | 0.40 | 900.0 | 900.0 | 0.16 | 0.0 | 33.33 | 7.33 | 19.77 | -16.89 | 91.80 | 4.45 | 17.92 | 300.00 | 200.0 | 50.0 | -200.00 | 0 | -100.0 | 25.92 | 0.58 | 0 |
| 21Q1 (9) | 13.06 | 43.04 | -0.91 | -0.52 | 88.77 | 92.0 | -0.56 | 91.4 | 89.0 | -1.15 | -32.18 | 78.5 | -0.35 | -25.0 | 66.98 | -0.05 | -66.67 | 89.36 | 0.16 | -5.88 | 45.45 | 6.12 | 0 | 17.47 | 87.89 | -0.63 | 17.26 | 100.00 | 42.86 | -16.67 | -0.00 | -100.0 | 100.0 | 25.77 | 3.37 | 0 |
| 20Q4 (8) | 9.13 | -27.94 | -39.86 | -4.63 | 13.3 | -238.62 | -6.51 | -3.33 | -848.28 | -0.87 | 89.48 | -229.85 | -0.28 | 86.6 | -227.27 | -0.03 | 97.09 | -111.54 | 0.17 | 21.43 | -5.56 | 0.00 | -100.0 | -100.0 | 88.45 | 2.72 | 5.64 | 70.00 | -20.0 | -86.0 | 30.00 | 140.0 | 107.5 | 24.93 | -7.63 | 0 |
| 20Q3 (7) | 12.67 | -20.56 | 17.1 | -5.34 | -48.75 | 6.97 | -6.30 | -291.3 | -23.77 | -8.27 | -478.32 | -88.81 | -2.09 | -596.67 | -81.74 | -1.03 | -1960.0 | -101.96 | 0.14 | 16.67 | -6.67 | 2.44 | -72.34 | 3.39 | 86.11 | 10.61 | 5.1 | 87.50 | -56.25 | -25.0 | 12.50 | 112.5 | 175.0 | 26.99 | 0 | -10.84 |
| 20Q2 (6) | 15.95 | 21.02 | -6.94 | -3.59 | 44.77 | -245.34 | -1.61 | 68.37 | -161.69 | -1.43 | 73.27 | -148.64 | -0.30 | 71.7 | -136.59 | -0.05 | 89.36 | -109.26 | 0.12 | 9.09 | -20.0 | 8.82 | 69.29 | -7.06 | 77.85 | 3.87 | 4.02 | 200.00 | 66.67 | 166.67 | -100.00 | -400.0 | 0 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 13.18 | -13.18 | -17.68 | -6.50 | -294.61 | -154.9 | -5.09 | -685.06 | -132.42 | -5.35 | -898.51 | -476.76 | -1.06 | -581.82 | -402.86 | -0.47 | -280.77 | -251.61 | 0.11 | -38.89 | -8.33 | 5.21 | -36.31 | -11.39 | 74.95 | -10.49 | -24.1 | 120.00 | -76.0 | 20.0 | -20.00 | 95.0 | 0 | 0.00 | 0 | -100.0 |
| 19Q4 (4) | 15.18 | 40.3 | 0.0 | 3.34 | 158.19 | 0.0 | 0.87 | 117.09 | 0.0 | 0.67 | 115.3 | 0.0 | 0.22 | 119.13 | 0.0 | 0.26 | 150.98 | 0.0 | 0.18 | 20.0 | 0.0 | 8.18 | 246.61 | 0.0 | 83.73 | 2.2 | 0.0 | 500.00 | 328.57 | 0.0 | -400.00 | -2300.0 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 10.82 | -36.87 | 0.0 | -5.74 | -332.39 | 0.0 | -5.09 | -295.02 | 0.0 | -4.38 | -248.98 | 0.0 | -1.15 | -240.24 | 0.0 | -0.51 | -194.44 | 0.0 | 0.15 | 0.0 | 0.0 | 2.36 | -75.13 | 0.0 | 81.93 | 9.47 | 0.0 | 116.67 | 55.56 | 0.0 | -16.67 | 0 | 0.0 | 30.27 | 9.83 | 0.0 |
| 19Q2 (2) | 17.14 | 7.06 | 0.0 | 2.47 | 196.86 | 0.0 | 2.61 | 219.18 | 0.0 | 2.94 | 107.04 | 0.0 | 0.82 | 134.29 | 0.0 | 0.54 | 74.19 | 0.0 | 0.15 | 25.0 | 0.0 | 9.49 | 61.39 | 0.0 | 74.84 | -24.21 | 0.0 | 75.00 | -25.0 | 0.0 | 0.00 | 0 | 0.0 | 27.56 | -4.64 | 0.0 |
| 19Q1 (1) | 16.01 | 0.0 | 0.0 | -2.55 | 0.0 | 0.0 | -2.19 | 0.0 | 0.0 | 1.42 | 0.0 | 0.0 | 0.35 | 0.0 | 0.0 | 0.31 | 0.0 | 0.0 | 0.12 | 0.0 | 0.0 | 5.88 | 0.0 | 0.0 | 98.75 | 0.0 | 0.0 | 100.00 | 0.0 | 0.0 | -0.00 | 0.0 | 0.0 | 28.90 | 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) | 32.97 | 98.38 | 19.63 | -34.78 | 3.65 | -31.91 | 21.72 | -9.16 | 19.15 | -10.56 | 16.92 | -16.69 | 10.65 | -3.53 | 0.53 | 6.0 | 26.29 | -15.06 | 62.41 | -10.79 | 90.21 | -28.19 | 9.79 | 0 | 0.41 | -17.45 | 20.37 | -26.03 |
| 2022 (9) | 16.62 | 4.79 | 30.10 | 0 | 5.36 | -8.28 | 23.91 | 0 | 21.41 | 0 | 20.31 | 0 | 11.04 | 0 | 0.50 | -13.79 | 30.95 | 414.12 | 69.96 | -41.14 | 125.62 | 0 | -25.62 | 0 | 0.50 | -86.82 | 27.54 | 5.96 |
| 2021 (8) | 15.86 | 28.84 | -0.06 | 0 | 5.84 | -17.89 | -1.27 | 0 | -1.40 | 0 | -1.64 | 0 | -0.32 | 0 | 0.58 | 9.43 | 6.02 | 69.1 | 118.85 | 34.37 | -0.00 | 0 | 100.00 | 2400.0 | 3.78 | -22.31 | 25.99 | -7.18 |
| 2020 (7) | 12.31 | -17.05 | -4.97 | 0 | 7.11 | 13.39 | -5.12 | 0 | -3.79 | 0 | -3.77 | 0 | -1.55 | 0 | 0.53 | -10.17 | 3.56 | -44.89 | 88.45 | 5.64 | 96.00 | 92.0 | 4.00 | -92.0 | 4.86 | 222.98 | 28.00 | 2.38 |
| 2019 (6) | 14.84 | -15.78 | -0.30 | 0 | 6.27 | 7.4 | -0.76 | 0 | 0.23 | -87.15 | 0.26 | -87.68 | 0.63 | -61.35 | 0.59 | 5.36 | 6.46 | -34.81 | 83.73 | -18.41 | 50.00 | -37.5 | 50.00 | 150.0 | 1.50 | 4.89 | 27.35 | 1.9 |
| 2018 (5) | 17.62 | -6.48 | 2.16 | 67.44 | 5.84 | 34.09 | 2.68 | 0 | 1.79 | 0 | 2.11 | 0 | 1.63 | 0 | 0.56 | 3.7 | 9.91 | 241.72 | 102.62 | -11.47 | 80.00 | 0 | 20.00 | -86.36 | 1.43 | 0 | 26.84 | 0.56 |
| 2017 (4) | 18.84 | -5.33 | 1.29 | -58.79 | 4.36 | -21.6 | -2.70 | 0 | -3.05 | 0 | -3.30 | 0 | -1.15 | 0 | 0.54 | 3.85 | 2.90 | -68.44 | 115.91 | 37.81 | -46.67 | 0 | 146.67 | 0 | 0.00 | 0 | 26.69 | -4.37 |
| 2016 (3) | 19.90 | -6.09 | 3.13 | 19.47 | 5.56 | -4.23 | 2.64 | -50.84 | 1.92 | -58.17 | 1.66 | -45.75 | 1.42 | -40.83 | 0.52 | 13.04 | 9.19 | -22.64 | 84.11 | 64.73 | 125.00 | 163.89 | -16.67 | 0 | 0.00 | 0 | 27.91 | 23.01 |
| 2015 (2) | 21.19 | -7.83 | 2.62 | -47.07 | 5.80 | 4.42 | 5.37 | -38.77 | 4.59 | -38.8 | 3.06 | -42.7 | 2.40 | -38.46 | 0.46 | -8.0 | 11.88 | -20.8 | 51.06 | 26.76 | 47.37 | -15.79 | 52.63 | 20.3 | 0.00 | 0 | 22.69 | -0.96 |
| 2014 (1) | 22.99 | 0 | 4.95 | 0 | 5.56 | -5.82 | 8.77 | 0 | 7.50 | 0 | 5.34 | 0 | 3.90 | 0 | 0.50 | -7.41 | 15.00 | 33.45 | 40.28 | -13.3 | 56.25 | -36.25 | 43.75 | 643.75 | 0.00 | 0 | 22.91 | 10.73 |
