- 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) | 73.20 | 41.67 | -18.87 | 42.09 | 29.67 | -33.47 | -169.02 | -246.71 | 15.56 | -169.40 | -236.24 | 17.39 | -2.67 | -161.76 | -9.43 | -0.63 | -250.0 | -34.04 | 0.00 | -100.0 | 0 | -116.67 | -653.2 | 5.91 | 225.29 | 2.27 | -26.18 | -24.69 | 62.96 | 21.2 | 125.31 | -25.46 | -4.59 | -23.21 | -2678.89 | -30.47 |
| 23Q3 (19) | 51.67 | -44.91 | -41.18 | 32.46 | 574.56 | 0.31 | -48.75 | -185.93 | -120.27 | -50.38 | -198.4 | -121.37 | -1.02 | -409.09 | -135.54 | -0.18 | -158.06 | -118.0 | 0.01 | 0 | 0 | -15.49 | -109.33 | -105.12 | 220.29 | 26.33 | -10.43 | -66.67 | -544.44 | -590.67 | 168.12 | 52.36 | 94.55 | 0.90 | -98.8 | -96.82 |
| 23Q2 (18) | 93.80 | 4.61 | 60.1 | -6.84 | 84.57 | -142.12 | 56.73 | -97.4 | -8.51 | 51.20 | -97.55 | -15.16 | 0.33 | -98.71 | -74.42 | 0.31 | -96.12 | -41.51 | 0.00 | 0 | -100.0 | 166.00 | -92.62 | 64.76 | 174.37 | 3.89 | -29.72 | -10.34 | -406.37 | -139.03 | 110.34 | 8.14 | 50.14 | 74.73 | 33.28 | 586.23 |
| 23Q1 (17) | 89.67 | -0.62 | 14.04 | -44.34 | -170.09 | -2448.28 | 2184.17 | 1191.21 | 1906.77 | 2089.65 | 1119.09 | 1892.8 | 25.67 | 1152.05 | 2299.07 | 7.99 | 1800.0 | 1636.96 | 0.00 | 0 | 0 | 2250.57 | 1914.98 | 1150.32 | 167.84 | -45.0 | -28.78 | -2.04 | 93.48 | -45.05 | 102.04 | -22.3 | 0.63 | 56.07 | 415.18 | 191.42 |
| 22Q4 (16) | 90.23 | 2.72 | 26.82 | 63.26 | 95.49 | 185.73 | -200.16 | -183.22 | -1297.13 | -205.05 | -187.0 | -1523.96 | -2.44 | -185.02 | -1726.67 | -0.47 | -147.0 | -376.47 | 0.00 | 0 | 0 | -124.00 | -140.98 | -244.29 | 305.17 | 24.08 | 30.65 | -31.33 | -330.61 | -124.62 | 131.33 | 51.98 | 581.56 | -17.79 | -162.95 | -309.54 |
| 22Q3 (15) | 87.84 | 49.92 | 18.37 | 32.36 | 99.26 | 85.87 | 240.53 | 287.89 | 907.15 | 235.70 | 290.56 | 795.08 | 2.87 | 122.48 | 1056.67 | 1.00 | 88.68 | 2400.0 | 0.00 | -100.0 | 0 | 302.60 | 200.35 | 589.92 | 245.95 | -0.87 | 7.54 | 13.59 | -48.74 | 123.1 | 86.41 | 17.58 | -45.59 | 28.26 | 159.5 | 217.17 |
| 22Q2 (14) | 58.59 | -25.49 | -15.84 | 16.24 | 1033.33 | 130.09 | 62.01 | -43.03 | 128.82 | 60.35 | -42.45 | 127.24 | 1.29 | 20.56 | 170.88 | 0.53 | 15.22 | 212.77 | 0.01 | 0 | 0 | 100.75 | -44.03 | 169.75 | 248.12 | 5.29 | 14.83 | 26.51 | 1981.93 | 6.94 | 73.49 | -27.53 | -2.29 | 10.89 | -43.4 | 146.94 |
| 22Q1 (13) | 78.63 | 10.51 | 104.5 | -1.74 | -107.86 | 94.31 | 108.84 | 550.96 | 665.4 | 104.86 | 628.19 | 915.1 | 1.07 | 613.33 | 791.67 | 0.46 | 170.59 | 155.56 | 0.00 | 0 | 0 | 180.00 | 109.45 | 152.63 | 235.66 | 0.89 | 11.72 | -1.41 | -101.11 | 99.35 | 101.41 | 471.83 | -69.01 | 19.24 | 126.62 | 94.93 |
| 21Q4 (12) | 71.15 | -4.12 | 194.01 | 22.14 | 27.17 | 1492.45 | 16.72 | 156.11 | 1406.25 | 14.40 | 142.47 | 610.64 | 0.15 | 150.0 | 207.14 | 0.17 | 325.0 | 183.33 | 0.00 | 0 | -100.0 | 85.94 | 95.94 | 769.84 | 233.57 | 2.12 | 10.47 | 127.27 | 316.36 | 1.82 | -27.27 | -117.17 | -9.09 | 8.49 | -4.71 | 296.73 |
| 21Q3 (11) | 74.21 | 6.59 | 41.19 | 17.41 | 132.26 | 1148.8 | -29.80 | 86.15 | 69.26 | -33.91 | 84.69 | 67.76 | -0.30 | 83.52 | 59.46 | 0.04 | 108.51 | 128.57 | 0.00 | 0 | 0 | 43.86 | 130.37 | 333.92 | 228.71 | 5.85 | 14.23 | -58.82 | -337.32 | -2805.88 | 158.82 | 111.16 | 62.35 | 8.91 | 102.04 | 3.85 |
| 21Q2 (10) | 69.62 | 81.07 | 4.21 | -53.97 | -76.43 | 6.2 | -215.20 | -1613.36 | -3.26 | -221.55 | -2244.72 | -3.2 | -1.82 | -1616.67 | -63.96 | -0.47 | -361.11 | -80.77 | 0.00 | 0 | 0 | -144.44 | -302.72 | -44.44 | 216.08 | 2.44 | 9.65 | 24.79 | 111.36 | -11.48 | 75.21 | -77.02 | 4.46 | 4.41 | -55.32 | 0 |
| 21Q1 (9) | 38.45 | 58.88 | 12.99 | -30.59 | -1823.9 | -4665.67 | 14.22 | 1210.94 | 13.49 | 10.33 | 466.31 | -0.39 | 0.12 | 185.71 | -20.0 | 0.18 | 200.0 | 5.88 | 0.00 | -100.0 | 0 | 71.25 | 621.15 | 39.71 | 210.93 | -0.24 | 14.43 | -218.18 | -274.55 | -2718.18 | 327.27 | 1409.09 | 227.27 | 9.87 | 361.21 | 36.89 |
| 20Q4 (8) | 24.20 | -53.96 | -61.45 | -1.59 | 4.22 | 98.16 | -1.28 | 98.68 | 99.84 | -2.82 | 97.32 | 99.65 | -0.14 | 81.08 | 96.6 | 0.06 | 142.86 | 104.38 | 0.02 | 0 | 0 | 9.88 | 152.69 | 101.4 | 211.43 | 5.6 | 15.23 | 125.00 | 5650.0 | 1067.97 | -25.00 | -125.56 | -128.0 | 2.14 | -75.06 | 0 |
| 20Q3 (7) | 52.56 | -21.33 | -26.92 | -1.66 | 97.12 | 99.08 | -96.95 | 53.48 | -36.34 | -105.17 | 51.01 | -42.76 | -0.74 | 33.33 | -111.43 | -0.14 | 46.15 | -1300.0 | 0.00 | 0 | 0 | -18.75 | 81.25 | -146.88 | 200.22 | 1.6 | 16.79 | 2.17 | -92.24 | -99.14 | 97.83 | 35.87 | 164.36 | 8.58 | 0 | 86.52 |
| 20Q2 (6) | 66.81 | 96.33 | 101.48 | -57.54 | -8688.06 | -1675.93 | -208.41 | -1763.29 | -380.1 | -214.68 | -2170.2 | -340.46 | -1.11 | -840.0 | -158.14 | -0.26 | -252.94 | -420.0 | 0.00 | 0 | 0 | -100.00 | -296.08 | -833.14 | 197.06 | 6.91 | 15.3 | 28.00 | 236.0 | 306.0 | 72.00 | -28.0 | -22.67 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 34.03 | -45.79 | -52.16 | 0.67 | 100.78 | 104.32 | 12.53 | 101.56 | -93.38 | 10.37 | 101.29 | -94.44 | 0.15 | 103.64 | -82.56 | 0.17 | 112.41 | -62.22 | 0.00 | 0 | 0 | 51.00 | 107.23 | -83.0 | 184.33 | 0.46 | 17.35 | 8.33 | -22.14 | 211.67 | 100.00 | 11.99 | -6.94 | 7.21 | 0 | -79.8 |
| 19Q4 (4) | 62.77 | -12.72 | 0.0 | -86.35 | 52.1 | 0.0 | -803.09 | -1029.36 | 0.0 | -803.89 | -991.2 | 0.0 | -4.12 | -1077.14 | 0.0 | -1.37 | -13600.0 | 0.0 | 0.00 | 0 | 0.0 | -705.41 | -1863.52 | 0.0 | 183.49 | 7.03 | 0.0 | 10.70 | -95.75 | 0.0 | 89.30 | 158.75 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 71.92 | 116.89 | 0.0 | -180.28 | -5464.2 | 0.0 | -71.11 | -63.81 | 0.0 | -73.67 | -51.15 | 0.0 | -0.35 | 18.6 | 0.0 | -0.01 | 80.0 | 0.0 | 0.00 | 0 | 0.0 | 40.00 | 193.26 | 0.0 | 171.43 | 0.3 | 0.0 | 252.00 | 3554.0 | 0.0 | -152.00 | -263.26 | 0.0 | 4.60 | 83.27 | 0.0 |
| 19Q2 (2) | 33.16 | -53.39 | 0.0 | -3.24 | 79.12 | 0.0 | -43.41 | -122.93 | 0.0 | -48.74 | -126.13 | 0.0 | -0.43 | -150.0 | 0.0 | -0.05 | -111.11 | 0.0 | 0.00 | 0 | 0.0 | 13.64 | -95.45 | 0.0 | 170.91 | 8.8 | 0.0 | 6.90 | 192.41 | 0.0 | 93.10 | -13.36 | 0.0 | 2.51 | -92.97 | 0.0 |
| 19Q1 (1) | 71.14 | 0.0 | 0.0 | -15.52 | 0.0 | 0.0 | 189.35 | 0.0 | 0.0 | 186.56 | 0.0 | 0.0 | 0.86 | 0.0 | 0.0 | 0.45 | 0.0 | 0.0 | 0.00 | 0.0 | 0.0 | 300.00 | 0.0 | 0.0 | 157.08 | 0.0 | 0.0 | -7.46 | 0.0 | 0.0 | 107.46 | 0.0 | 0.0 | 35.70 | 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) | 71.64 | -5.04 | 11.81 | -55.33 | 2.66 | -62.66 | 453.37 | 742.7 | 429.96 | 754.28 | 26.49 | 839.36 | 7.92 | 473.91 | 0.02 | 0.0 | 506.91 | 353.9 | 225.29 | -26.18 | 2.58 | -94.76 | 97.36 | 91.68 | 0.00 | 0 | 17.45 | 72.43 |
| 2022 (9) | 75.44 | 23.19 | 26.44 | 0 | 7.12 | -50.91 | 53.80 | 0 | 50.33 | 0 | 2.82 | 0 | 1.38 | 0 | 0.02 | 100.0 | 111.68 | 382.63 | 305.17 | 30.65 | 49.21 | 83.7 | 50.79 | -30.62 | 0.00 | 0 | 10.12 | 24.32 |
| 2021 (8) | 61.24 | 92.58 | -11.70 | 0 | 14.51 | 104.35 | -43.92 | 0 | -47.99 | 0 | -1.88 | 0 | -0.07 | 0 | 0.01 | -50.0 | 23.14 | 200.91 | 233.57 | 10.47 | 26.79 | 15.38 | 73.21 | -4.65 | 0.00 | 0 | 8.14 | 62.8 |
| 2020 (7) | 31.80 | -42.19 | -5.10 | 0 | 7.10 | -65.68 | -22.16 | 0 | -24.79 | 0 | -1.82 | 0 | -0.16 | 0 | 0.02 | 100.0 | 7.69 | 0 | 211.43 | 15.23 | 23.21 | -35.77 | 76.79 | 19.58 | 0.00 | 0 | 5.00 | -58.81 |
| 2019 (6) | 55.01 | -20.94 | -59.11 | 0 | 20.69 | 13.41 | -164.17 | 0 | -167.46 | 0 | -3.94 | 0 | -1.00 | 0 | 0.01 | 0.0 | -77.01 | 0 | 183.49 | 19.03 | 36.14 | 0 | 64.21 | -49.75 | 0.00 | 0 | 12.14 | -31.41 |
| 2018 (5) | 69.58 | 48.17 | -10.07 | 0 | 18.24 | 91.24 | 36.57 | 86.58 | 34.08 | 79.65 | 0.65 | -8.45 | 0.68 | -4.23 | 0.01 | -50.0 | 121.62 | 107.72 | 154.15 | 13.65 | -27.78 | 0 | 127.78 | 206.67 | 0.00 | 0 | 17.70 | 114.03 |
| 2017 (4) | 46.96 | 8.68 | 11.55 | -52.33 | 9.54 | 123.68 | 19.60 | 0 | 18.97 | 0 | 0.71 | 0 | 0.71 | 0 | 0.02 | -50.0 | 58.55 | 282.93 | 135.64 | 10.28 | 58.33 | 0 | 41.67 | -92.85 | 0.00 | 0 | 8.27 | 194.31 |
| 2016 (3) | 43.21 | -5.92 | 24.23 | -31.82 | 4.26 | 787.4 | -4.94 | 0 | -14.32 | 0 | -1.12 | 0 | -0.04 | 0 | 0.04 | -85.71 | 15.29 | -58.74 | 123.00 | 12.18 | -485.29 | 0 | 582.35 | 0 | 0.00 | 0 | 2.81 | 2.55 |
| 2015 (2) | 45.93 | -32.18 | 35.54 | -33.69 | 0.48 | 453.87 | 35.27 | -41.27 | 32.83 | -41.84 | 21.17 | 9.41 | 9.66 | 11.16 | 0.28 | 86.67 | 37.06 | -39.45 | 109.65 | -25.8 | 100.76 | 12.83 | -0.76 | 0 | 0.00 | 0 | 2.74 | -19.17 |
| 2014 (1) | 67.72 | 0 | 53.60 | 0 | 0.09 | 126.46 | 60.05 | 0 | 56.45 | 0 | 19.35 | 0 | 8.69 | 0 | 0.15 | -31.82 | 61.21 | 63.53 | 147.78 | 44.7 | 89.31 | 4.75 | 10.77 | -26.99 | 0.00 | 0 | 3.39 | 8.31 |
