- 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) | 65.04 | 0.71 | -3.67 | -26.90 | -545.08 | -598.15 | -131.41 | -464.96 | -897.8 | -133.81 | -432.47 | -671.68 | -15.42 | -553.39 | -724.6 | -4.53 | -1158.33 | -2165.0 | 0.04 | 33.33 | 0.0 | -77.57 | -311.59 | -309.03 | 223.10 | 16.28 | 26.02 | 20.49 | 13.87 | 150.08 | 79.51 | -3.04 | -43.57 | 23.05 | 6.47 | 6.81 |
| 23Q3 (19) | 64.58 | -0.08 | -5.07 | -4.17 | -479.17 | -153.6 | -23.26 | -30.67 | -14437.5 | -25.13 | 17.39 | -290.22 | -2.36 | 21.59 | -237.14 | -0.36 | 36.84 | -289.47 | 0.03 | -25.0 | -25.0 | 36.66 | -3.96 | -25.91 | 191.86 | 8.77 | 9.21 | 17.99 | 326.44 | 100.3 | 82.01 | -14.38 | -98.64 | 21.65 | 0.14 | 18.57 |
| 23Q2 (18) | 64.63 | -4.53 | -3.82 | -0.72 | -105.87 | -107.56 | -17.80 | -545.0 | -547.27 | -30.42 | -894.26 | -634.78 | -3.01 | -800.0 | -554.35 | -0.57 | -191.94 | -319.23 | 0.04 | 0.0 | 0.0 | 38.17 | -26.78 | -17.11 | 176.39 | -3.71 | -8.89 | 4.22 | -98.62 | 101.21 | 95.78 | 146.37 | -78.6 | 21.62 | 19.12 | 30.24 |
| 23Q1 (17) | 67.70 | 0.27 | -3.34 | 12.26 | 127.04 | -15.27 | 4.00 | 130.37 | -32.32 | 3.83 | 122.09 | 2.13 | 0.43 | 122.99 | -12.24 | 0.62 | 410.0 | 10.71 | 0.04 | 0.0 | 0.0 | 52.13 | 40.47 | 11.03 | 183.18 | 3.47 | -7.63 | 306.56 | 849.36 | 25.74 | -206.56 | -246.59 | -43.63 | 18.15 | -15.89 | 28.81 |
| 22Q4 (16) | 67.52 | -0.75 | -3.79 | 5.40 | -30.59 | -62.94 | -13.17 | -8131.25 | -298.05 | -17.34 | -169.25 | -2488.06 | -1.87 | -167.14 | -1770.0 | -0.20 | -205.26 | -160.61 | 0.04 | 0.0 | -20.0 | 37.11 | -25.0 | -7.94 | 177.03 | 0.77 | -8.77 | -40.91 | 99.31 | -118.68 | 140.91 | -97.67 | 218.36 | 21.58 | 18.18 | 23.31 |
| 22Q3 (15) | 68.03 | 1.24 | 5.78 | 7.78 | -18.36 | -35.33 | -0.16 | 94.18 | -105.56 | -6.44 | -55.56 | -737.62 | -0.70 | -52.17 | -683.33 | 0.19 | -26.92 | -53.66 | 0.04 | 0.0 | -20.0 | 49.48 | 7.45 | 13.93 | 175.68 | -9.26 | 12.26 | -5950.00 | -1611.64 | -1532.98 | 6050.00 | 1251.6 | 2019.31 | 18.26 | 10.0 | 26.1 |
| 22Q2 (14) | 67.20 | -4.05 | 7.76 | 9.53 | -34.14 | -33.45 | -2.75 | -146.53 | -139.06 | -4.14 | -210.4 | -257.41 | -0.46 | -193.88 | -235.29 | 0.26 | -53.57 | -50.94 | 0.04 | 0.0 | -20.0 | 46.05 | -1.92 | -2.35 | 193.61 | -2.37 | 15.21 | -347.62 | -242.58 | -271.61 | 447.62 | 411.26 | 532.82 | 16.60 | 17.81 | 29.59 |
| 22Q1 (13) | 70.04 | -0.2 | 18.33 | 14.47 | -0.69 | 49.48 | 5.91 | -11.13 | 44.5 | 3.75 | 659.7 | 971.43 | 0.49 | 590.0 | 880.0 | 0.56 | 69.7 | 27.27 | 0.04 | -20.0 | -20.0 | 46.95 | 16.47 | 12.37 | 198.32 | 2.21 | 13.01 | 243.81 | 11.3 | 2.88 | -143.81 | -20.8 | -4.98 | 14.09 | -19.49 | 14.74 |
| 21Q4 (12) | 70.18 | 9.13 | 13.74 | 14.57 | 21.11 | 78.12 | 6.65 | 130.9 | 70.95 | -0.67 | -166.34 | -106.37 | -0.10 | -183.33 | -105.81 | 0.33 | -19.51 | -67.33 | 0.05 | 0.0 | -16.67 | 40.31 | -7.18 | 12.32 | 194.04 | 23.99 | -4.22 | 219.05 | -47.25 | 3.32 | -119.05 | 62.23 | -7.57 | 17.50 | 20.86 | 36.4 |
| 21Q3 (11) | 64.31 | 3.13 | 31.84 | 12.03 | -15.99 | 151.67 | 2.88 | -59.09 | 1700.0 | 1.01 | -61.6 | 137.69 | 0.12 | -64.71 | 127.91 | 0.41 | -22.64 | 41.38 | 0.05 | 0.0 | 0.0 | 43.43 | -7.91 | 22.48 | 156.50 | -6.87 | -17.64 | 415.22 | 104.98 | 113.84 | -315.22 | -204.8 | -110.17 | 14.48 | 13.04 | 37.64 |
| 21Q2 (10) | 62.36 | 5.36 | 7.93 | 14.32 | 47.93 | 829.87 | 7.04 | 72.13 | 173.33 | 2.63 | 651.43 | 126.2 | 0.34 | 580.0 | 129.57 | 0.53 | 20.45 | 960.0 | 0.05 | 0.0 | 25.0 | 47.16 | 12.88 | 21.52 | 168.05 | -4.24 | -12.35 | 202.56 | -14.52 | 1343.01 | -103.42 | 24.5 | -188.93 | 12.81 | 4.32 | 0 |
| 21Q1 (9) | 59.19 | -4.07 | 3.77 | 9.68 | 18.34 | 158.82 | 4.09 | 5.14 | 119.04 | 0.35 | -96.67 | 101.49 | 0.05 | -97.09 | 102.27 | 0.44 | -56.44 | 233.33 | 0.05 | -16.67 | 66.67 | 41.78 | 16.41 | 16.15 | 175.49 | -13.38 | -4.11 | 236.99 | 11.79 | 1474.52 | -136.99 | -23.78 | -216.84 | 12.28 | -4.29 | -32.93 |
| 20Q4 (8) | 61.70 | 26.49 | -8.14 | 8.18 | 71.13 | -61.07 | 3.89 | 2261.11 | -79.61 | 10.51 | 492.16 | -29.23 | 1.72 | 500.0 | -33.07 | 1.01 | 248.28 | -25.19 | 0.06 | 20.0 | 0.0 | 35.89 | 1.21 | -27.47 | 202.59 | 6.62 | 7.4 | 212.00 | 107.07 | 92.29 | -110.67 | -103.57 | -1004.15 | 12.83 | 21.96 | 0 |
| 20Q3 (7) | 48.78 | -15.58 | -27.01 | 4.78 | 210.39 | -63.23 | -0.18 | 98.12 | 95.51 | -2.68 | 73.31 | 61.66 | -0.43 | 62.61 | 52.22 | 0.29 | 480.0 | 123.08 | 0.05 | 25.0 | 0.0 | 35.46 | -8.63 | -4.91 | 190.02 | -0.89 | 5.13 | -3000.00 | -18309.09 | -825.11 | 3100.00 | 2565.61 | 630.64 | 10.52 | 0 | -19.82 |
| 20Q2 (6) | 57.78 | 1.3 | -14.72 | 1.54 | -58.82 | -89.58 | -9.60 | 55.31 | -114.14 | -10.04 | 57.35 | -115.91 | -1.15 | 47.73 | -112.39 | 0.05 | 115.15 | -98.58 | 0.04 | 33.33 | -20.0 | 38.81 | 7.9 | -63.97 | 191.72 | 4.76 | 3.41 | -16.30 | 5.48 | -174.89 | 116.30 | -0.81 | 48.78 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 57.04 | -15.08 | -14.62 | 3.74 | -82.2 | -81.06 | -21.48 | -212.58 | -240.48 | -23.54 | -258.52 | -323.34 | -2.20 | -185.6 | -225.71 | -0.33 | -124.44 | -128.95 | 0.03 | -50.0 | -50.0 | 35.97 | -27.3 | -30.3 | 183.01 | -2.98 | -19.88 | -17.24 | -115.64 | -113.33 | 117.24 | 1269.75 | 503.56 | 18.31 | 0 | 51.57 |
| 19Q4 (4) | 67.17 | 0.51 | 0.0 | 21.01 | 61.62 | 0.0 | 19.08 | 575.81 | 0.0 | 14.85 | 312.45 | 0.0 | 2.57 | 385.56 | 0.0 | 1.35 | 938.46 | 0.0 | 0.06 | 20.0 | 0.0 | 49.48 | 32.69 | 0.0 | 188.64 | 4.37 | 0.0 | 110.25 | 134.0 | 0.0 | -10.02 | -102.36 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 66.83 | -1.36 | 0.0 | 13.00 | -12.04 | 0.0 | -4.01 | -105.91 | 0.0 | -6.99 | -111.08 | 0.0 | -0.90 | -109.7 | 0.0 | 0.13 | -96.32 | 0.0 | 0.05 | 0.0 | 0.0 | 37.29 | -65.38 | 0.0 | 180.75 | -2.51 | 0.0 | -324.29 | -1590.36 | 0.0 | 424.29 | 442.81 | 0.0 | 13.12 | -12.3 | 0.0 |
| 19Q2 (2) | 67.75 | 1.41 | 0.0 | 14.78 | -25.16 | 0.0 | 67.87 | 343.88 | 0.0 | 63.10 | 498.67 | 0.0 | 9.28 | 430.29 | 0.0 | 3.53 | 209.65 | 0.0 | 0.05 | -16.67 | 0.0 | 107.72 | 108.72 | 0.0 | 185.40 | -18.83 | 0.0 | 21.76 | -83.18 | 0.0 | 78.17 | 369.05 | 0.0 | 14.96 | 23.84 | 0.0 |
| 19Q1 (1) | 66.81 | 0.0 | 0.0 | 19.75 | 0.0 | 0.0 | 15.29 | 0.0 | 0.0 | 10.54 | 0.0 | 0.0 | 1.75 | 0.0 | 0.0 | 1.14 | 0.0 | 0.0 | 0.06 | 0.0 | 0.0 | 51.61 | 0.0 | 0.0 | 228.41 | 0.0 | 0.0 | 129.36 | 0.0 | 0.0 | -29.05 | 0.0 | 0.0 | 12.08 | 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) | 65.58 | -3.94 | -4.56 | 0 | 36.31 | 10.66 | -41.89 | 0 | -46.03 | 0 | -20.60 | 0 | -4.90 | 0 | 0.15 | -6.25 | 12.27 | -72.73 | 223.10 | 26.02 | 10.89 | 0 | 89.11 | -83.36 | 4.78 | -12.31 | 21.03 | 20.31 |
| 2022 (9) | 68.27 | 6.46 | 9.51 | -24.94 | 32.82 | 19.88 | -2.17 | 0 | -5.62 | 0 | -2.64 | 0 | 0.85 | -46.54 | 0.16 | -11.11 | 44.99 | 4.53 | 177.03 | -8.77 | -436.23 | 0 | 535.51 | 0 | 5.45 | 4.25 | 17.48 | 21.9 |
| 2021 (8) | 64.13 | 14.13 | 12.67 | 158.04 | 27.38 | -5.24 | 5.22 | 0 | 0.77 | 0 | 0.42 | 0 | 1.59 | 31.4 | 0.18 | 5.88 | 43.04 | 13.11 | 194.04 | -4.22 | 242.94 | 0 | -142.94 | 0 | 5.23 | -8.42 | 14.34 | 5.91 |
| 2020 (7) | 56.19 | -16.31 | 4.91 | -71.89 | 28.89 | 17.93 | -3.39 | 0 | -2.61 | 0 | -1.33 | 0 | 1.21 | -81.83 | 0.17 | -22.73 | 38.05 | -37.97 | 202.59 | 7.4 | -145.41 | 0 | 245.41 | 732.5 | 5.71 | 2.32 | 13.54 | 3.12 |
| 2019 (6) | 67.14 | -5.79 | 17.47 | 7.44 | 24.50 | 119.67 | 24.78 | 353.02 | 20.55 | 652.75 | 12.69 | 650.89 | 6.66 | 303.64 | 0.22 | -4.35 | 61.34 | 172.14 | 188.64 | 15.32 | 70.52 | -76.28 | 29.48 | 0 | 5.58 | -13.05 | 13.13 | -7.99 |
| 2018 (5) | 71.27 | -1.26 | 16.26 | 20.53 | 11.15 | 0.46 | 5.47 | -60.36 | 2.73 | -71.32 | 1.69 | -71.31 | 1.65 | -43.1 | 0.23 | 9.52 | 22.54 | -27.06 | 163.58 | -4.28 | 297.27 | 204.22 | -197.27 | 0 | 6.42 | 6.54 | 14.27 | -6.12 |
| 2017 (4) | 72.18 | 0.6 | 13.49 | 78.68 | 11.10 | -11.2 | 13.80 | 0 | 9.52 | 0 | 5.89 | 0 | 2.90 | 0 | 0.21 | 5.0 | 30.90 | 172.01 | 170.90 | -27.64 | 97.72 | 0 | 2.28 | -98.88 | 6.03 | 0 | 15.20 | -13.24 |
| 2016 (3) | 71.75 | -2.58 | 7.55 | -44.89 | 12.50 | 4.44 | -7.26 | 0 | -12.60 | 0 | -8.16 | 0 | -1.59 | 0 | 0.20 | -4.76 | 11.36 | 72.91 | 236.17 | 11.39 | -103.98 | 0 | 203.98 | -13.79 | 0.00 | 0 | 17.52 | 15.11 |
| 2015 (2) | 73.65 | -2.91 | 13.70 | -24.06 | 11.97 | 9.33 | -10.03 | 0 | -15.76 | 0 | -9.73 | 0 | -2.64 | 0 | 0.21 | -12.5 | 6.57 | -74.98 | 212.02 | 27.13 | -136.62 | 0 | 236.62 | 0 | 0.00 | 0 | 15.22 | 7.94 |
| 2014 (1) | 75.86 | 0 | 18.04 | 0 | 10.95 | -5.1 | 11.92 | 0 | 5.54 | 0 | 3.42 | 0 | 1.86 | 0 | 0.24 | -7.69 | 26.26 | -1.02 | 166.77 | 13.87 | 151.39 | 21.08 | -51.39 | 0 | 0.00 | 0 | 14.10 | -3.29 |
