- 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) | 12.20 | 44.89 | 47.34 | 2.40 | -40.45 | -33.52 | 0.19 | -97.13 | -85.16 | 0.33 | -93.35 | -80.47 | 0.23 | -95.17 | -79.09 | 0.23 | -92.31 | -71.95 | 0.46 | -22.03 | 2.22 | 0.83 | -88.31 | -58.5 | 45.24 | -26.52 | 16.06 | 1433.33 | 2253.68 | 404.32 | -1333.33 | -3509.84 | -623.81 | 5.00 | 82.48 | 148.76 |
| 23Q3 (19) | 8.42 | -20.11 | -29.6 | 4.03 | 9.51 | -37.71 | 6.63 | -5.69 | -43.81 | 4.96 | -4.43 | -50.35 | 4.76 | 46.91 | -34.44 | 2.99 | 38.43 | -40.67 | 0.59 | 47.5 | 18.0 | 7.10 | -9.55 | -42.83 | 61.57 | -2.79 | 23.19 | 60.90 | 17.28 | 10.78 | 39.10 | -18.67 | -13.16 | 2.74 | -26.74 | -18.45 |
| 23Q2 (18) | 10.54 | 15.44 | 3.03 | 3.68 | 34.31 | -31.98 | 7.03 | 109.23 | -7.74 | 5.19 | 83.39 | -16.29 | 3.24 | 125.0 | -30.77 | 2.16 | 107.69 | -33.33 | 0.40 | 11.11 | -23.08 | 7.85 | 87.8 | -6.1 | 63.34 | 34.34 | 51.31 | 51.92 | -37.06 | -26.84 | 48.08 | 174.73 | 65.6 | 3.74 | -9.66 | 19.87 |
| 23Q1 (17) | 9.13 | 10.27 | -4.3 | 2.74 | -24.1 | -40.82 | 3.36 | 162.5 | -49.55 | 2.83 | 67.46 | -45.68 | 1.44 | 30.91 | -60.0 | 1.04 | 26.83 | -54.98 | 0.36 | -20.0 | -18.18 | 4.18 | 109.0 | -45.29 | 47.15 | 20.96 | -5.68 | 82.50 | -70.97 | 19.44 | 17.50 | 109.5 | -43.42 | 4.14 | 105.97 | 28.57 |
| 22Q4 (16) | 8.28 | -30.77 | -20.99 | 3.61 | -44.2 | -26.77 | 1.28 | -89.15 | -70.16 | 1.69 | -83.08 | -51.71 | 1.10 | -84.85 | -68.12 | 0.82 | -83.73 | -62.73 | 0.45 | -10.0 | -27.42 | 2.00 | -83.9 | -60.08 | 38.98 | -22.01 | -40.35 | 284.21 | 416.99 | 149.05 | -184.21 | -509.12 | -1204.82 | 2.01 | -40.18 | -35.58 |
| 22Q3 (15) | 11.96 | 16.91 | 21.3 | 6.47 | 19.59 | 12.72 | 11.80 | 54.86 | 205.7 | 9.99 | 61.13 | 279.85 | 7.26 | 55.13 | 207.63 | 5.04 | 55.56 | 215.0 | 0.50 | -3.85 | -15.25 | 12.42 | 48.56 | 170.59 | 49.98 | 19.4 | -3.94 | 54.97 | -22.54 | -62.99 | 45.03 | 55.09 | 192.78 | 3.36 | 7.69 | 78.72 |
| 22Q2 (14) | 10.23 | 7.23 | -1.73 | 5.41 | 16.85 | 5.66 | 7.62 | 14.41 | 768.42 | 6.20 | 19.0 | 985.71 | 4.68 | 30.0 | 950.91 | 3.24 | 40.26 | 1081.82 | 0.52 | 18.18 | 0.0 | 8.36 | 9.42 | 2243.59 | 41.86 | -16.26 | -18.81 | 70.97 | 2.74 | 115.97 | 29.03 | -6.13 | -94.61 | 3.12 | -3.11 | 54.46 |
| 22Q1 (13) | 9.54 | -8.97 | -12.64 | 4.63 | -6.09 | -26.62 | 6.66 | 55.24 | 11.56 | 5.21 | 48.86 | 9.45 | 3.60 | 4.35 | 22.45 | 2.31 | 5.0 | 14.93 | 0.44 | -29.03 | 7.32 | 7.64 | 52.5 | 9.77 | 49.99 | -23.5 | 4.65 | 69.07 | -39.47 | -34.52 | 30.93 | 319.07 | 664.43 | 3.22 | 3.21 | 34.17 |
| 21Q4 (12) | 10.48 | 6.29 | -10.12 | 4.93 | -14.11 | -23.68 | 4.29 | 11.14 | -11.55 | 3.50 | 33.08 | -24.89 | 3.45 | 46.19 | -11.99 | 2.20 | 37.5 | -16.35 | 0.62 | 5.08 | 12.73 | 5.01 | 9.15 | -11.17 | 65.35 | 25.6 | 29.23 | 114.12 | -23.17 | -13.85 | -14.12 | 70.91 | 56.52 | 3.12 | 65.96 | 98.73 |
| 21Q3 (11) | 9.86 | -5.28 | 28.22 | 5.74 | 12.11 | 31.35 | 3.86 | 438.6 | 2.39 | 2.63 | 475.71 | -30.05 | 2.36 | 529.09 | -29.55 | 1.60 | 584.85 | -31.33 | 0.59 | 13.46 | -3.28 | 4.59 | 1276.92 | 1.32 | 52.03 | 0.91 | -1.12 | 148.53 | 133.42 | 27.0 | -48.53 | -109.01 | -218.14 | 1.88 | -6.93 | 10.59 |
| 21Q2 (10) | 10.41 | -4.67 | 5.47 | 5.12 | -18.86 | -15.09 | -1.14 | -119.1 | -120.77 | -0.70 | -114.71 | -113.44 | -0.55 | -118.71 | -117.35 | -0.33 | -116.42 | -113.98 | 0.52 | 26.83 | 18.18 | -0.39 | -105.6 | -105.86 | 51.56 | 7.93 | 31.03 | -444.44 | -521.36 | -501.43 | 538.89 | 9934.72 | 5129.63 | 2.02 | -15.83 | -13.68 |
| 21Q1 (9) | 10.92 | -6.35 | 75.56 | 6.31 | -2.32 | 630.25 | 5.97 | 23.09 | 1456.82 | 4.76 | 2.15 | 1134.78 | 2.94 | -25.0 | 2200.0 | 2.01 | -23.57 | 6800.0 | 0.41 | -25.45 | 86.36 | 6.96 | 23.4 | 217.81 | 47.77 | -5.54 | 34.45 | 105.48 | -20.37 | -64.84 | -5.48 | 83.12 | 97.26 | 2.40 | 52.87 | 0 |
| 20Q4 (8) | 11.66 | 51.63 | 59.73 | 6.46 | 47.83 | 110.42 | 4.85 | 28.65 | 370.87 | 4.66 | 23.94 | 3228.57 | 3.92 | 17.01 | 3820.0 | 2.63 | 12.88 | 1653.33 | 0.55 | -9.84 | 3.77 | 5.64 | 24.5 | 229.82 | 50.57 | -3.9 | 31.52 | 132.47 | 13.27 | -54.77 | -32.47 | -112.84 | 83.16 | 1.57 | -7.65 | 44.04 |
| 20Q3 (7) | 7.69 | -22.09 | 20.16 | 4.37 | -27.53 | 209.93 | 3.77 | -31.33 | -14.9 | 3.76 | -27.83 | -28.38 | 3.35 | 5.68 | -2.33 | 2.33 | -1.27 | -5.28 | 0.61 | 38.64 | 32.61 | 4.53 | -31.88 | -19.54 | 52.62 | 33.72 | 16.57 | 116.95 | 5.63 | 271.49 | -15.25 | -42.37 | -122.88 | 1.70 | -27.35 | -36.09 |
| 20Q2 (6) | 9.87 | 58.68 | 17.78 | 6.03 | 606.72 | 32.82 | 5.49 | 1347.73 | 14.14 | 5.21 | 1232.61 | 45.94 | 3.17 | 2364.29 | 7.46 | 2.36 | 7966.67 | 9.26 | 0.44 | 100.0 | -13.73 | 6.65 | 203.65 | 13.68 | 39.35 | 10.75 | -2.53 | 110.71 | -63.1 | 16.16 | -10.71 | 94.64 | -271.43 | 2.34 | 0 | 12.5 |
| 20Q1 (5) | 6.22 | -14.79 | 16.26 | -1.19 | -138.76 | -176.28 | -0.44 | -142.72 | -118.49 | -0.46 | -428.57 | -124.86 | -0.14 | -240.0 | -116.47 | -0.03 | -120.0 | -104.29 | 0.22 | -58.49 | -38.89 | 2.19 | 28.07 | -25.26 | 35.53 | -7.59 | -0.78 | 300.00 | 2.44 | 361.54 | -200.00 | -3.7 | -671.43 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 7.30 | 14.06 | 0.0 | 3.07 | 117.73 | 0.0 | 1.03 | -76.75 | 0.0 | 0.14 | -97.33 | 0.0 | 0.10 | -97.08 | 0.0 | 0.15 | -93.9 | 0.0 | 0.53 | 15.22 | 0.0 | 1.71 | -69.63 | 0.0 | 38.45 | -14.82 | 0.0 | 292.86 | 830.25 | 0.0 | -192.86 | -389.29 | 0.0 | 1.09 | -59.02 | 0.0 |
| 19Q3 (3) | 6.40 | -23.63 | 0.0 | 1.41 | -68.94 | 0.0 | 4.43 | -7.9 | 0.0 | 5.25 | 47.06 | 0.0 | 3.43 | 16.27 | 0.0 | 2.46 | 13.89 | 0.0 | 0.46 | -9.8 | 0.0 | 5.63 | -3.76 | 0.0 | 45.14 | 11.82 | 0.0 | 31.48 | -66.97 | 0.0 | 66.67 | 966.67 | 0.0 | 2.66 | 27.88 | 0.0 |
| 19Q2 (2) | 8.38 | 56.64 | 0.0 | 4.54 | 191.03 | 0.0 | 4.81 | 102.1 | 0.0 | 3.57 | 92.97 | 0.0 | 2.95 | 247.06 | 0.0 | 2.16 | 208.57 | 0.0 | 0.51 | 41.67 | 0.0 | 5.85 | 99.66 | 0.0 | 40.37 | 12.73 | 0.0 | 95.31 | 46.63 | 0.0 | 6.25 | -82.14 | 0.0 | 2.08 | -9.96 | 0.0 |
| 19Q1 (1) | 5.35 | 0.0 | 0.0 | 1.56 | 0.0 | 0.0 | 2.38 | 0.0 | 0.0 | 1.85 | 0.0 | 0.0 | 0.85 | 0.0 | 0.0 | 0.70 | 0.0 | 0.0 | 0.36 | 0.0 | 0.0 | 2.93 | 0.0 | 0.0 | 35.81 | 0.0 | 0.0 | 65.00 | 0.0 | 0.0 | 35.00 | 0.0 | 0.0 | 2.31 | 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) | 10.00 | -0.5 | 3.30 | -34.91 | 0.40 | -31.86 | 4.45 | -35.97 | 3.42 | -41.64 | 9.66 | -42.02 | 7.06 | -36.91 | 1.99 | 5.85 | 5.10 | -33.85 | 45.24 | 16.06 | 74.01 | 1.59 | 25.66 | -5.48 | 4.83 | -14.36 | 3.80 | 29.25 |
| 2022 (9) | 10.05 | -3.18 | 5.07 | -6.97 | 0.58 | 5.15 | 6.95 | 117.87 | 5.86 | 134.4 | 16.66 | 104.17 | 11.19 | 111.13 | 1.88 | -9.18 | 7.71 | 93.23 | 38.98 | -40.35 | 72.85 | -57.31 | 27.15 | 0 | 5.65 | 13.61 | 2.94 | 23.01 |
| 2021 (8) | 10.38 | 11.02 | 5.45 | 12.6 | 0.55 | -19.36 | 3.19 | -21.43 | 2.50 | -36.39 | 8.16 | -18.73 | 5.30 | -25.67 | 2.07 | 16.95 | 3.99 | -22.37 | 65.35 | 29.23 | 170.67 | 43.49 | -70.67 | 0 | 4.97 | -19.61 | 2.39 | 16.02 |
| 2020 (7) | 9.35 | 33.19 | 4.84 | 73.48 | 0.68 | 20.19 | 4.06 | 26.48 | 3.93 | 44.49 | 10.04 | 26.45 | 7.13 | 10.37 | 1.77 | -18.06 | 5.14 | 24.76 | 50.57 | 31.52 | 118.95 | 36.97 | -19.47 | 0 | 6.18 | -22.1 | 2.06 | 3.52 |
| 2019 (6) | 7.02 | -22.09 | 2.79 | -53.11 | 0.57 | 93.9 | 3.21 | -55.54 | 2.72 | -54.52 | 7.94 | -43.81 | 6.46 | -47.44 | 2.16 | 5.88 | 4.12 | -45.57 | 38.45 | 137.79 | 86.84 | 5.43 | 13.16 | -25.35 | 7.93 | 0 | 1.99 | 3.11 |
| 2018 (5) | 9.01 | 397.79 | 5.95 | 1951.72 | 0.29 | 41.39 | 7.22 | 0 | 5.98 | 0 | 14.13 | 0 | 12.29 | 0 | 2.04 | -23.31 | 7.57 | 0 | 16.17 | 5.34 | 82.37 | 0 | 17.63 | -86.37 | 0.00 | 0 | 1.93 | 82.08 |
| 2017 (4) | 1.81 | -49.72 | 0.29 | -82.42 | 0.21 | -0.7 | -1.00 | 0 | -0.99 | 0 | -3.23 | 0 | -2.56 | 0 | 2.66 | 5.98 | -0.76 | 0 | 15.35 | -50.29 | -29.31 | 0 | 129.31 | 0 | 0.00 | 0 | 1.06 | -14.52 |
| 2016 (3) | 3.60 | -14.29 | 1.65 | -25.0 | 0.21 | 18.92 | 1.63 | -40.73 | 1.37 | -44.53 | 5.13 | -52.1 | 3.66 | -49.93 | 2.51 | -12.24 | 1.94 | -35.97 | 30.88 | -54.16 | 101.83 | 26.83 | -1.83 | 0 | 0.00 | 0 | 1.24 | -0.8 |
| 2015 (2) | 4.20 | -29.41 | 2.20 | -43.88 | 0.18 | -26.25 | 2.75 | -43.53 | 2.47 | -46.65 | 10.71 | -40.3 | 7.31 | -35.59 | 2.86 | 19.17 | 3.03 | -42.07 | 67.37 | 97.33 | 80.30 | -0.15 | 20.20 | 3.15 | 0.00 | 0 | 1.25 | -11.97 |
| 2014 (1) | 5.95 | 0 | 3.92 | 0 | 0.24 | -30.22 | 4.87 | 0 | 4.63 | 0 | 17.94 | 0 | 11.35 | 0 | 2.40 | -21.82 | 5.23 | -15.78 | 34.14 | -63.53 | 80.42 | -22.22 | 19.58 | 0 | 0.00 | 0 | 1.42 | 19.33 |
