- 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) | 29.86 | 4.59 | 34.81 | 6.62 | -14.91 | 1571.11 | 2.22 | -85.96 | 154.55 | 3.25 | -77.03 | 188.32 | 0.64 | -81.07 | 190.14 | 0.50 | -80.24 | 196.15 | 0.15 | -16.67 | 0.0 | 6.65 | -65.44 | 4056.25 | 34.17 | 0.8 | 2.4 | 303.45 | 516.76 | 2529.89 | -200.00 | -493.7 | -321.28 | 30.34 | 12.45 | 4.12 |
| 23Q3 (19) | 28.55 | 19.71 | 27.0 | 7.78 | 392.48 | 804.65 | 15.81 | 105.59 | 12.29 | 14.15 | 210.99 | 10.72 | 3.38 | 338.96 | 17.77 | 2.53 | 321.67 | 19.34 | 0.18 | 38.46 | 12.5 | 19.24 | 49.96 | 9.38 | 33.90 | -4.64 | 1.1 | 49.20 | 244.21 | 690.98 | 50.80 | -62.12 | -45.83 | 26.98 | -24.34 | -1.21 |
| 23Q2 (18) | 23.85 | 11.24 | 15.55 | -2.66 | 58.18 | -1577.78 | 7.69 | 215.64 | 83.1 | 4.55 | 157.09 | 52.68 | 0.77 | 168.75 | 16.67 | 0.60 | 171.43 | 20.0 | 0.13 | 18.18 | -18.75 | 12.83 | 2475.93 | 61.18 | 35.55 | 20.71 | -9.15 | -34.12 | -135.85 | -805.1 | 134.12 | 2671.76 | 40.94 | 35.66 | -4.86 | 38.54 |
| 23Q1 (17) | 21.44 | -3.21 | -10.78 | -6.36 | -1313.33 | -100.63 | -6.65 | -63.39 | -463.56 | -7.97 | -116.58 | -553.28 | -1.12 | -57.75 | -489.47 | -0.84 | -61.54 | -546.15 | 0.11 | -26.67 | -8.33 | -0.54 | -437.5 | -112.53 | 29.45 | -11.75 | -6.89 | 95.16 | 724.73 | -65.4 | 4.84 | -94.65 | 102.76 | 37.48 | 28.62 | 18.5 |
| 22Q4 (16) | 22.15 | -1.47 | -11.04 | -0.45 | -152.33 | -197.83 | -4.07 | -128.91 | -428.23 | -3.68 | -128.79 | -951.43 | -0.71 | -124.74 | -914.29 | -0.52 | -124.53 | -1200.0 | 0.15 | -6.25 | 7.14 | 0.16 | -99.09 | -97.16 | 33.37 | -0.48 | -5.97 | 11.54 | 85.5 | -71.15 | 90.38 | -3.62 | 50.64 | 29.14 | 6.7 | 3.52 |
| 22Q3 (15) | 22.48 | 8.91 | -19.91 | 0.86 | 377.78 | -28.93 | 14.08 | 235.24 | 72.76 | 12.78 | 328.86 | 247.28 | 2.87 | 334.85 | 378.33 | 2.12 | 324.0 | 393.02 | 0.16 | 0.0 | 45.45 | 17.59 | 120.98 | 28.86 | 33.53 | -14.31 | -12.2 | 6.22 | 28.55 | -58.85 | 93.78 | -1.45 | 10.48 | 27.31 | 6.1 | -12.19 |
| 22Q2 (14) | 20.64 | -14.11 | 10.61 | 0.18 | 105.68 | 100.54 | 4.20 | 455.93 | -96.81 | 2.98 | 344.26 | -97.39 | 0.66 | 447.37 | -94.86 | 0.50 | 484.62 | -94.12 | 0.16 | 33.33 | 128.57 | 7.96 | 84.69 | -94.29 | 39.13 | 23.71 | -22.82 | 4.84 | -98.24 | 119.31 | 95.16 | 154.38 | -23.9 | 25.74 | -18.62 | -54.16 |
| 22Q1 (13) | 24.03 | -3.49 | -0.87 | -3.17 | -789.13 | 83.52 | -1.18 | -195.16 | 92.77 | -1.22 | -248.57 | 93.41 | -0.19 | -171.43 | 90.21 | -0.13 | -225.0 | 89.43 | 0.12 | -14.29 | 71.43 | 4.31 | -23.58 | 164.71 | 31.63 | -10.88 | -39.91 | 275.00 | 587.5 | 133.05 | -175.00 | -391.67 | -872.22 | 31.63 | 12.36 | -34.2 |
| 21Q4 (12) | 24.90 | -11.29 | 33.08 | 0.46 | -61.98 | 104.2 | 1.24 | -84.79 | 114.37 | -0.35 | -109.51 | 93.68 | -0.07 | -111.67 | 92.13 | -0.04 | -109.3 | 92.59 | 0.14 | 27.27 | 40.0 | 5.64 | -58.68 | 398.41 | 35.49 | -7.07 | -35.31 | 40.00 | 164.62 | -68.46 | 60.00 | -29.32 | 323.64 | 28.15 | -9.49 | -12.14 |
| 21Q3 (11) | 28.07 | 50.43 | 28.64 | 1.21 | 103.66 | 107.7 | 8.15 | -93.81 | 203.95 | 3.68 | -96.78 | 144.55 | 0.60 | -95.33 | 144.12 | 0.43 | -94.94 | 150.59 | 0.11 | 57.14 | 0.0 | 13.65 | -90.21 | 1806.25 | 38.19 | -24.67 | -32.4 | 15.12 | 160.33 | -92.44 | 84.88 | -32.12 | 184.88 | 31.10 | -44.61 | 0.03 |
| 21Q2 (10) | 18.66 | -23.02 | 19.16 | -33.03 | -71.76 | -74.21 | 131.64 | 906.62 | 1010.37 | 114.25 | 717.57 | 863.19 | 12.85 | 762.37 | 794.59 | 8.50 | 791.06 | 820.34 | 0.07 | 0.0 | -12.5 | 139.43 | 2193.54 | 2400.83 | 50.70 | -3.69 | -7.53 | -25.05 | -121.23 | -119.14 | 125.05 | 794.75 | 504.59 | 56.15 | 16.81 | 0 |
| 21Q1 (9) | 24.24 | 29.56 | 144.85 | -19.23 | -75.62 | 33.18 | -16.32 | -89.11 | 37.06 | -18.50 | -233.94 | 30.66 | -1.94 | -117.98 | 35.97 | -1.23 | -127.78 | 37.88 | 0.07 | -30.0 | 0.0 | -6.66 | -252.38 | 62.01 | 52.64 | -4.05 | -0.64 | 118.00 | -6.96 | 6.31 | -18.00 | 32.91 | -63.71 | 48.07 | 50.03 | 13.72 |
| 20Q4 (8) | 18.71 | -14.25 | -2.5 | -10.95 | 30.34 | 4.2 | -8.63 | -10.08 | 44.29 | -5.54 | 32.93 | 66.91 | -0.89 | 34.56 | 69.73 | -0.54 | 36.47 | 72.16 | 0.10 | -9.09 | -16.67 | -1.89 | -136.25 | 82.2 | 54.86 | -2.89 | 9.3 | 126.83 | -36.59 | 71.54 | -26.83 | 73.17 | -202.94 | 32.04 | 3.06 | 0 |
| 20Q3 (7) | 21.82 | 39.34 | 109.0 | -15.72 | 17.09 | -25.06 | -7.84 | 45.78 | -69.33 | -8.26 | 44.82 | -65.53 | -1.36 | 26.49 | -46.24 | -0.85 | 27.97 | -41.67 | 0.11 | 37.5 | -8.33 | -0.80 | 86.8 | -366.67 | 56.49 | 3.03 | 13.14 | 200.00 | 52.78 | -25.88 | -100.00 | -223.53 | 41.12 | 31.09 | 0 | 20.32 |
| 20Q2 (6) | 15.66 | 58.18 | 10.91 | -18.96 | 34.12 | -2184.34 | -14.46 | 44.23 | -6785.71 | -14.97 | 43.89 | -2621.82 | -1.85 | 38.94 | -1133.33 | -1.18 | 40.4 | -1211.11 | 0.08 | 14.29 | -57.89 | -6.06 | 65.43 | -294.23 | 54.83 | 3.49 | 8.75 | 130.91 | 17.94 | -69.2 | -30.91 | -181.13 | 90.49 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 9.90 | -48.41 | -8.5 | -28.78 | -151.79 | -464.31 | -25.93 | -67.4 | -447.05 | -26.68 | -59.38 | -434.67 | -3.03 | -3.06 | -136.72 | -1.98 | -2.06 | -130.23 | 0.07 | -41.67 | -61.11 | -17.53 | -65.07 | -2516.42 | 52.98 | 5.56 | 15.53 | 110.99 | 50.12 | 3.15 | -10.99 | -142.18 | -44.5 | 42.27 | 0 | 117.21 |
| 19Q4 (4) | 19.19 | 83.81 | 0.0 | -11.43 | 9.07 | 0.0 | -15.49 | -234.56 | 0.0 | -16.74 | -235.47 | 0.0 | -2.94 | -216.13 | 0.0 | -1.94 | -223.33 | 0.0 | 0.12 | 0.0 | 0.0 | -10.62 | -3640.0 | 0.0 | 50.19 | 0.52 | 0.0 | 73.94 | -72.6 | 0.0 | 26.06 | 115.35 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 10.44 | -26.06 | 0.0 | -12.57 | -1414.46 | 0.0 | -4.63 | -2104.76 | 0.0 | -4.99 | -807.27 | 0.0 | -0.93 | -520.0 | 0.0 | -0.60 | -566.67 | 0.0 | 0.12 | -36.84 | 0.0 | 0.30 | -90.38 | 0.0 | 49.93 | -0.97 | 0.0 | 269.84 | -36.51 | 0.0 | -169.84 | 47.74 | 0.0 | 25.84 | 42.13 | 0.0 |
| 19Q2 (2) | 14.12 | 30.5 | 0.0 | -0.83 | 83.73 | 0.0 | -0.21 | 95.57 | 0.0 | -0.55 | 88.98 | 0.0 | -0.15 | 88.28 | 0.0 | -0.09 | 89.53 | 0.0 | 0.19 | 5.56 | 0.0 | 3.12 | 565.67 | 0.0 | 50.42 | 9.94 | 0.0 | 425.00 | 294.95 | 0.0 | -325.00 | -4171.43 | 0.0 | 18.18 | -6.58 | 0.0 |
| 19Q1 (1) | 10.82 | 0.0 | 0.0 | -5.10 | 0.0 | 0.0 | -4.74 | 0.0 | 0.0 | -4.99 | 0.0 | 0.0 | -1.28 | 0.0 | 0.0 | -0.86 | 0.0 | 0.0 | 0.18 | 0.0 | 0.0 | -0.67 | 0.0 | 0.0 | 45.86 | 0.0 | 0.0 | 107.61 | 0.0 | 0.0 | -7.61 | 0.0 | 0.0 | 19.46 | 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) | 26.52 | 19.46 | 2.48 | 0 | 4.26 | 9.24 | 6.12 | 57.33 | 4.92 | 50.0 | 3.63 | 38.55 | 2.80 | 40.0 | 0.55 | -8.33 | 10.70 | 32.75 | 34.17 | 2.4 | 40.40 | 0 | 59.60 | -46.38 | 0.08 | -2.97 | 31.79 | 12.85 |
| 2022 (9) | 22.20 | -9.39 | -0.44 | 0 | 3.90 | -33.34 | 3.89 | -84.92 | 3.28 | -83.72 | 2.62 | -77.26 | 2.00 | -75.16 | 0.60 | 50.0 | 8.06 | -74.88 | 33.37 | -5.97 | -11.17 | 0 | 111.17 | -18.2 | 0.08 | -28.64 | 28.17 | -25.73 |
| 2021 (8) | 24.50 | 43.7 | -9.27 | 0 | 5.85 | -15.45 | 25.79 | 0 | 20.15 | 0 | 11.52 | 0 | 8.05 | 0 | 0.40 | 11.11 | 32.08 | 0 | 35.49 | -35.31 | -35.90 | 0 | 135.90 | 0 | 0.11 | 13.17 | 37.93 | 8.62 |
| 2020 (7) | 17.05 | 27.91 | -17.91 | 0 | 6.91 | 83.03 | -13.39 | 0 | -12.93 | 0 | -7.03 | 0 | -4.51 | 0 | 0.36 | -41.94 | -5.84 | 0 | 54.86 | 9.3 | 133.62 | 9.1 | -33.84 | 0 | 0.10 | -87.8 | 34.92 | 52.89 |
| 2019 (6) | 13.33 | 57.57 | -6.45 | 0 | 3.78 | -18.52 | -5.27 | 0 | -5.75 | 0 | -5.31 | 0 | -3.52 | 0 | 0.62 | -3.13 | -1.12 | 0 | 50.19 | 7.11 | 122.48 | -14.76 | -22.48 | 0 | 0.81 | -43.87 | 22.84 | 11.96 |
| 2018 (5) | 8.46 | -33.07 | -9.69 | 0 | 4.64 | 52.76 | -6.74 | 0 | -5.57 | 0 | -5.24 | 0 | -3.52 | 0 | 0.64 | -26.44 | -1.90 | 0 | 46.86 | -0.51 | 143.69 | 404.02 | -43.69 | 0 | 1.44 | 2971.68 | 20.40 | 44.68 |
| 2017 (4) | 12.64 | -11.36 | 0.58 | -24.68 | 3.04 | -13.9 | 2.04 | -54.67 | 1.84 | -53.54 | 2.40 | -52.57 | 1.63 | -50.0 | 0.87 | 7.41 | 5.16 | -37.23 | 47.10 | -11.63 | 28.51 | 66.02 | 71.49 | -13.69 | 0.05 | 0 | 14.10 | -7.78 |
| 2016 (3) | 14.26 | 19.23 | 0.77 | -75.63 | 3.53 | 40.24 | 4.50 | -15.73 | 3.96 | -12.2 | 5.06 | -45.77 | 3.26 | -42.4 | 0.81 | -35.2 | 8.22 | 3.27 | 53.30 | -11.87 | 17.17 | -70.99 | 82.83 | 103.41 | 0.00 | 0 | 15.29 | 39.63 |
| 2015 (2) | 11.96 | 35.91 | 3.16 | 618.18 | 2.51 | -25.87 | 5.34 | 500.0 | 4.51 | 535.21 | 9.33 | 436.21 | 5.66 | 409.91 | 1.25 | -13.79 | 7.96 | 81.74 | 60.48 | -14.88 | 59.18 | 20.04 | 40.72 | -19.68 | 0.00 | 0 | 10.95 | -3.95 |
| 2014 (1) | 8.80 | 0 | 0.44 | 0 | 3.39 | -6.13 | 0.89 | 0 | 0.71 | 0 | 1.74 | 0 | 1.11 | 0 | 1.45 | 0.0 | 4.38 | -22.48 | 71.05 | 3.26 | 49.30 | -32.55 | 50.70 | 88.46 | 0.00 | 0 | 11.40 | 31.34 |
