- 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) | 14.65 | 12.0 | -41.45 | 8.46 | 39.6 | -59.62 | 13.30 | 33.13 | -40.06 | 11.74 | 15.78 | -44.67 | 0.77 | 28.33 | -52.76 | 0.74 | 19.35 | -48.97 | 0.05 | 0.0 | -16.67 | 50.97 | 6.43 | 1.11 | 32.92 | 14.23 | 37.05 | 63.58 | 4.66 | -32.62 | 36.42 | -7.21 | 544.92 | 16.97 | -5.72 | 13.21 |
| 23Q3 (19) | 13.08 | -54.83 | 144.49 | 6.06 | -73.33 | 877.42 | 9.99 | -46.35 | 213.14 | 10.14 | -34.07 | 258.69 | 0.60 | -30.23 | 257.89 | 0.62 | -25.3 | 426.32 | 0.05 | 0.0 | 0.0 | 47.89 | -15.6 | 84.55 | 28.82 | -1.34 | 18.75 | 60.75 | -50.2 | 1011.21 | 39.25 | 278.5 | -63.2 | 18.00 | 0.0 | -0.28 |
| 23Q2 (18) | 28.96 | 197.03 | 52.26 | 22.72 | 601.23 | 58.55 | 18.62 | 68.2 | 156.12 | 15.38 | 24.23 | 81.58 | 0.86 | 26.47 | 65.38 | 0.83 | 18.57 | 72.92 | 0.05 | 0.0 | 0.0 | 56.74 | 14.05 | 38.73 | 29.21 | 8.79 | 5.41 | 121.99 | 310.33 | -38.58 | -21.99 | -130.9 | 77.38 | 18.00 | -8.12 | 6.32 |
| 23Q1 (17) | 9.75 | -61.03 | -27.02 | 3.24 | -84.53 | -40.77 | 11.07 | -50.11 | 445.32 | 12.38 | -41.66 | 323.97 | 0.68 | -58.28 | 325.0 | 0.70 | -51.72 | 233.33 | 0.05 | -16.67 | 25.0 | 49.75 | -1.31 | 27.83 | 26.85 | 11.78 | -29.34 | 29.73 | -68.49 | -88.85 | 71.17 | 1160.15 | 142.7 | 19.59 | 30.69 | 0.67 |
| 22Q4 (16) | 25.02 | 367.66 | -35.98 | 20.95 | 3279.03 | -39.61 | 22.19 | 351.3 | 36.47 | 21.22 | 432.08 | 0.19 | 1.63 | 528.95 | -15.54 | 1.45 | 863.16 | -3.97 | 0.06 | 20.0 | -14.29 | 50.41 | 94.26 | 28.86 | 24.02 | -1.03 | -32.75 | 94.35 | 1515.28 | -55.75 | 5.65 | -94.71 | 104.99 | 14.99 | -16.95 | 28.12 |
| 22Q3 (15) | 5.35 | -71.87 | -80.78 | 0.62 | -95.67 | -97.19 | -8.83 | -221.46 | -138.42 | -6.39 | -175.44 | -132.14 | -0.38 | -173.08 | -127.54 | -0.19 | -139.58 | -117.27 | 0.05 | 0.0 | 0.0 | 25.95 | -36.55 | -50.88 | 24.27 | -12.41 | -35.73 | -6.67 | -103.36 | -106.94 | 106.67 | 209.71 | 2588.0 | 18.05 | 6.62 | 38.42 |
| 22Q2 (14) | 19.02 | 42.37 | -27.71 | 14.33 | 161.97 | -30.54 | 7.27 | 258.13 | -65.48 | 8.47 | 190.07 | -65.75 | 0.52 | 225.0 | -47.47 | 0.48 | 128.57 | -42.17 | 0.05 | 25.0 | 0.0 | 40.90 | 5.09 | -25.69 | 27.71 | -27.08 | -22.1 | 198.61 | -25.52 | 102.56 | -97.22 | 41.67 | -5082.64 | 16.93 | -13.0 | 7.83 |
| 22Q1 (13) | 13.36 | -65.81 | -37.72 | 5.47 | -84.23 | -64.71 | 2.03 | -87.52 | -82.94 | 2.92 | -86.21 | -75.61 | 0.16 | -91.71 | -73.77 | 0.21 | -86.09 | -61.82 | 0.04 | -42.86 | 0.0 | 38.92 | -0.51 | -28.59 | 38.00 | 6.38 | 6.92 | 266.67 | 25.05 | 105.46 | -166.67 | -47.17 | -459.52 | 19.46 | 66.32 | 6.05 |
| 21Q4 (12) | 39.08 | 40.42 | -13.73 | 34.69 | 57.11 | -10.22 | 16.26 | -29.24 | -63.94 | 21.18 | 6.54 | 189.07 | 1.93 | 39.86 | 10.29 | 1.51 | 37.27 | 7.86 | 0.07 | 40.0 | 133.33 | 39.12 | -25.95 | -60.52 | 35.72 | -5.4 | 1.42 | 213.25 | 122.06 | 148.51 | -113.25 | -2953.85 | -898.13 | 11.70 | -10.28 | -54.93 |
| 21Q3 (11) | 27.83 | 5.78 | 8.41 | 22.08 | 7.03 | 2.99 | 22.98 | 9.12 | 10.32 | 19.88 | -19.61 | 21.0 | 1.38 | 39.39 | 32.69 | 1.10 | 32.53 | 25.0 | 0.05 | 0.0 | 0.0 | 52.83 | -4.02 | -6.25 | 37.76 | 6.16 | 6.34 | 96.03 | -2.06 | -6.58 | 3.97 | 103.37 | 242.2 | 13.04 | -16.94 | -24.32 |
| 21Q2 (10) | 26.31 | 22.66 | 11.2 | 20.63 | 33.1 | 10.44 | 21.06 | 76.97 | 18.85 | 24.73 | 106.6 | 37.31 | 0.99 | 62.3 | -13.91 | 0.83 | 50.91 | -15.31 | 0.05 | 25.0 | 0.0 | 55.04 | 0.99 | 2.38 | 35.57 | 0.08 | -6.69 | 98.05 | -24.45 | -6.95 | 1.95 | 106.55 | 136.29 | 15.70 | -14.44 | 0 |
| 21Q1 (9) | 21.45 | -52.65 | 68.63 | 15.50 | -59.89 | 75.54 | 11.90 | -73.61 | 180.66 | 11.97 | 150.34 | 170.81 | 0.61 | -65.14 | 90.62 | 0.55 | -60.71 | 34.15 | 0.04 | 33.33 | -20.0 | 54.50 | -45.0 | 47.18 | 35.54 | 0.91 | -9.08 | 129.79 | 51.25 | -38.2 | -29.79 | -309.93 | 72.92 | 18.35 | -29.31 | 37.35 |
| 20Q4 (8) | 45.30 | 76.47 | 38.28 | 38.64 | 80.22 | 32.87 | 45.09 | 116.47 | 53.58 | -23.78 | -244.74 | -193.33 | 1.75 | 68.27 | -25.21 | 1.40 | 59.09 | -24.73 | 0.03 | -40.0 | -57.14 | 99.09 | 75.85 | 79.06 | 35.22 | -0.82 | -10.88 | 85.81 | -16.52 | -13.23 | 14.19 | 608.45 | 1510.47 | 25.96 | 50.67 | 127.32 |
| 20Q3 (7) | 25.67 | 8.5 | 56.43 | 21.44 | 14.78 | 75.02 | 20.83 | 17.55 | 173.72 | 16.43 | -8.77 | 105.38 | 1.04 | -9.57 | 108.0 | 0.88 | -10.2 | 54.39 | 0.05 | 0.0 | 25.0 | 56.35 | 4.82 | 21.29 | 35.51 | -6.85 | -15.17 | 102.79 | -2.45 | -35.95 | -2.79 | 48.09 | 95.39 | 17.23 | 0 | 8.5 |
| 20Q2 (6) | 23.66 | 86.01 | 281.58 | 18.68 | 111.55 | 194.11 | 17.72 | 317.92 | 162.79 | 18.01 | 307.47 | 167.76 | 1.15 | 259.37 | 192.74 | 0.98 | 139.02 | 258.06 | 0.05 | 0.0 | 66.67 | 53.76 | 45.18 | 125.88 | 38.12 | -2.48 | -13.76 | 105.38 | -49.82 | 49.39 | -5.38 | 95.11 | -118.25 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 12.72 | -61.17 | 849.25 | 8.83 | -69.64 | 240.38 | 4.24 | -85.56 | 133.81 | 4.42 | -82.65 | 138.17 | 0.32 | -86.32 | 151.61 | 0.41 | -77.96 | 295.24 | 0.05 | -28.57 | 25.0 | 37.03 | -33.09 | 16.56 | 39.09 | -1.09 | -11.34 | 210.00 | 112.34 | 316.38 | -110.00 | -12585.0 | -321.93 | 13.36 | 16.99 | -23.7 |
| 19Q4 (4) | 32.76 | 99.63 | 0.0 | 29.08 | 137.39 | 0.0 | 29.36 | 285.81 | 0.0 | 25.48 | 218.5 | 0.0 | 2.34 | 368.0 | 0.0 | 1.86 | 226.32 | 0.0 | 0.07 | 75.0 | 0.0 | 55.34 | 19.11 | 0.0 | 39.52 | -5.59 | 0.0 | 98.90 | -38.38 | 0.0 | 0.88 | 101.46 | 0.0 | 11.42 | -28.09 | 0.0 |
| 19Q3 (3) | 16.41 | 225.94 | 0.0 | 12.25 | 161.71 | 0.0 | 7.61 | 126.97 | 0.0 | 8.00 | 130.1 | 0.0 | 0.50 | 140.32 | 0.0 | 0.57 | 191.94 | 0.0 | 0.04 | 33.33 | 0.0 | 46.46 | 95.21 | 0.0 | 41.86 | -5.29 | 0.0 | 160.49 | 127.54 | 0.0 | -60.49 | -305.31 | 0.0 | 15.88 | -22.99 | 0.0 |
| 19Q2 (2) | -13.03 | -1072.39 | 0.0 | -19.85 | -215.58 | 0.0 | -28.22 | -125.04 | 0.0 | -26.58 | -129.53 | 0.0 | -1.24 | -100.0 | 0.0 | -0.62 | -195.24 | 0.0 | 0.03 | -25.0 | 0.0 | 23.80 | -25.09 | 0.0 | 44.20 | 0.25 | 0.0 | 70.54 | 39.86 | 0.0 | 29.46 | -40.55 | 0.0 | 20.62 | 17.76 | 0.0 |
| 19Q1 (1) | 1.34 | 0.0 | 0.0 | -6.29 | 0.0 | 0.0 | -12.54 | 0.0 | 0.0 | -11.58 | 0.0 | 0.0 | -0.62 | 0.0 | 0.0 | -0.21 | 0.0 | 0.0 | 0.04 | 0.0 | 0.0 | 31.77 | 0.0 | 0.0 | 44.09 | 0.0 | 0.0 | 50.43 | 0.0 | 0.0 | 49.57 | 0.0 | 0.0 | 17.51 | 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) | 16.55 | 0.36 | 10.06 | -11.13 | 33.92 | 12.72 | 13.22 | 86.72 | 12.37 | 58.18 | 3.05 | 53.27 | 3.04 | 54.31 | 0.20 | 0.0 | 51.30 | 28.51 | 32.92 | 37.05 | 76.21 | -52.37 | 23.97 | 0 | 0.00 | 0 | 18.11 | 5.91 |
| 2022 (9) | 16.49 | -45.18 | 11.32 | -54.3 | 30.10 | 6.18 | 7.08 | -61.23 | 7.82 | -60.82 | 1.99 | -59.47 | 1.97 | -50.87 | 0.20 | 0.0 | 39.92 | -18.58 | 24.02 | -32.75 | 160.00 | 18.05 | -60.00 | 0 | 0.00 | 0 | 17.10 | 20.68 |
| 2021 (8) | 30.08 | 22.88 | 24.77 | 25.42 | 28.35 | -16.33 | 18.26 | -4.0 | 19.96 | 207.55 | 4.91 | 14.99 | 4.01 | 8.97 | 0.20 | 11.11 | 49.03 | -13.92 | 35.72 | 1.42 | 135.54 | 30.48 | -35.54 | 0 | 0.00 | 0 | 14.17 | -16.1 |
| 2020 (7) | 24.48 | 79.47 | 19.75 | 134.56 | 33.88 | 6.98 | 19.02 | 320.8 | 6.49 | 73.99 | 4.27 | 354.26 | 3.68 | 134.39 | 0.18 | 0.0 | 56.96 | 34.53 | 35.22 | -10.88 | 103.88 | -44.35 | -3.88 | 0 | 0.00 | 0 | 16.89 | 8.97 |
| 2019 (6) | 13.64 | 0.37 | 8.42 | -10.23 | 31.67 | -10.44 | 4.52 | 41.25 | 3.73 | 65.78 | 0.94 | 91.84 | 1.57 | 45.37 | 0.18 | 12.5 | 42.34 | -4.68 | 39.52 | -0.1 | 186.67 | -36.2 | -86.67 | 0 | 0.00 | 0 | 15.50 | 0.26 |
| 2018 (5) | 13.59 | -48.01 | 9.38 | -58.07 | 35.36 | -7.38 | 3.20 | -85.43 | 2.25 | -88.6 | 0.49 | -86.58 | 1.08 | -66.36 | 0.16 | 23.08 | 44.42 | -32.02 | 39.56 | -0.73 | 292.56 | 187.46 | -192.56 | 0 | 0.00 | 0 | 15.46 | -4.15 |
| 2017 (4) | 26.14 | -5.32 | 22.37 | -7.26 | 38.18 | -0.65 | 21.96 | -0.41 | 19.73 | -24.23 | 3.65 | 17.74 | 3.21 | 22.99 | 0.13 | 0.0 | 65.34 | 1.49 | 39.85 | 5.42 | 101.78 | -7.05 | -1.91 | 0 | 0.00 | 0 | 16.13 | -16.21 |
| 2016 (3) | 27.61 | -21.61 | 24.12 | -22.69 | 38.42 | 26.0 | 22.05 | -21.22 | 26.04 | -16.19 | 3.10 | -38.61 | 2.61 | -29.65 | 0.13 | -13.33 | 64.38 | 4.79 | 37.80 | -16.2 | 109.49 | -1.78 | -9.36 | 0 | 0.00 | 0 | 19.25 | 20.92 |
| 2015 (2) | 35.22 | -3.8 | 31.20 | -3.41 | 30.49 | 3.3 | 27.99 | -1.2 | 31.07 | 7.62 | 5.05 | -21.58 | 3.71 | -15.1 | 0.15 | -6.25 | 61.44 | 1.15 | 45.11 | -22.46 | 111.47 | -2.2 | -11.47 | 0 | 0.00 | 0 | 15.92 | 7.42 |
| 2014 (1) | 36.61 | 0 | 32.30 | 0 | 29.52 | -9.87 | 28.33 | 0 | 28.87 | 0 | 6.44 | 0 | 4.37 | 0 | 0.16 | 6.67 | 60.74 | -10.61 | 58.18 | -10.37 | 113.98 | 3.34 | -13.98 | 0 | 0.00 | 0 | 14.82 | -8.29 |
