- 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) | 22.98 | 24.22 | -17.87 | 11.46 | 70.28 | -34.36 | 6.55 | -18.43 | -69.13 | 3.61 | -41.59 | -81.21 | 0.32 | -40.74 | -81.29 | 0.53 | -15.87 | -55.46 | 0.04 | 0.0 | -20.0 | 47.36 | -2.77 | -8.59 | 100.99 | 2.23 | 33.73 | 175.36 | 110.43 | 112.53 | -75.36 | -552.17 | -520.14 | 19.58 | -6.94 | 4.48 |
| 23Q3 (19) | 18.50 | -10.11 | -41.47 | 6.73 | -21.29 | -68.43 | 8.03 | -18.23 | -55.41 | 6.18 | 22.38 | -62.79 | 0.54 | 25.58 | -67.27 | 0.63 | 21.15 | -42.2 | 0.04 | 0.0 | -33.33 | 48.71 | 2.55 | 11.69 | 98.79 | -4.13 | 29.54 | 83.33 | -4.76 | -29.64 | 16.67 | 23.08 | 190.35 | 21.04 | -1.82 | 4.52 |
| 23Q2 (18) | 20.58 | -12.57 | -44.33 | 8.55 | -19.42 | -69.19 | 9.82 | -50.1 | -38.12 | 5.05 | -72.63 | -66.42 | 0.43 | -71.14 | -74.4 | 0.52 | -50.0 | -49.51 | 0.04 | 0.0 | -33.33 | 47.50 | -11.56 | 23.76 | 103.05 | 8.67 | 29.09 | 87.50 | 61.74 | -49.85 | 13.54 | -70.5 | 118.06 | 21.43 | -12.17 | 26.28 |
| 23Q1 (17) | 23.54 | -15.87 | -16.23 | 10.61 | -39.23 | -35.85 | 19.68 | -7.26 | -10.05 | 18.45 | -3.96 | 0.76 | 1.49 | -12.87 | -14.86 | 1.04 | -12.61 | -0.95 | 0.04 | -20.0 | -20.0 | 53.71 | 3.67 | 15.58 | 94.83 | 25.57 | 8.87 | 54.10 | -34.44 | -28.73 | 45.90 | 155.9 | 87.01 | 24.40 | 30.2 | 21.94 |
| 22Q4 (16) | 27.98 | -11.48 | -2.85 | 17.46 | -18.11 | 0.63 | 21.22 | 17.82 | -26.14 | 19.21 | 15.65 | -24.37 | 1.71 | 3.64 | -30.77 | 1.19 | 9.17 | -19.05 | 0.05 | -16.67 | 0.0 | 51.81 | 18.8 | -2.28 | 75.52 | -0.97 | -8.96 | 82.51 | -30.34 | 36.73 | 17.94 | 197.24 | -54.77 | 18.74 | -6.91 | -8.14 |
| 22Q3 (15) | 31.61 | -14.5 | 25.79 | 21.32 | -23.17 | 39.8 | 18.01 | 13.48 | 181.35 | 16.61 | 10.44 | 163.76 | 1.65 | -1.79 | 172.37 | 1.09 | 5.83 | 188.62 | 0.06 | 0.0 | 20.0 | 43.61 | 13.63 | 1044.62 | 76.26 | -4.47 | 1.4 | 118.45 | -32.11 | 271.91 | -18.45 | 75.4 | -110.92 | 20.13 | 18.62 | 14.25 |
| 22Q2 (14) | 36.97 | 31.57 | 165.78 | 27.75 | 67.78 | 7015.38 | 15.87 | -27.47 | -84.21 | 15.04 | -17.86 | -84.91 | 1.68 | -4.0 | -77.78 | 1.03 | -1.9 | -76.48 | 0.06 | 20.0 | 50.0 | 38.38 | -17.41 | -70.64 | 79.83 | -8.35 | 13.09 | 174.48 | 129.85 | 47067.53 | -75.00 | -405.56 | -175.28 | 16.97 | -15.19 | -28.28 |
| 22Q1 (13) | 28.10 | -2.43 | 66.27 | 16.54 | -4.67 | 314.54 | 21.88 | -23.84 | -21.55 | 18.31 | -27.91 | -32.91 | 1.75 | -29.15 | -19.72 | 1.05 | -28.57 | -16.67 | 0.05 | 0.0 | 25.0 | 46.47 | -12.35 | -22.1 | 87.10 | 5.0 | 4.3 | 75.91 | 25.79 | 424.25 | 24.55 | -38.1 | -71.45 | 20.01 | -1.91 | -10.99 |
| 21Q4 (12) | 28.80 | 14.6 | 62.62 | 17.35 | 13.77 | 225.52 | 28.73 | 229.77 | 3328.09 | 25.40 | 197.5 | 1782.12 | 2.47 | 208.33 | 2158.33 | 1.47 | 219.51 | 2000.0 | 0.05 | 0.0 | 25.0 | 53.02 | 1291.6 | 66.83 | 82.95 | 10.29 | -16.43 | 60.34 | 187.58 | 110.06 | 39.66 | -76.52 | -94.33 | 20.40 | 15.78 | -27.19 |
| 21Q3 (11) | 25.13 | 80.66 | 51.84 | 15.25 | 3810.26 | 304.51 | -22.14 | -122.03 | -184.5 | -26.05 | -126.14 | -201.88 | -2.28 | -130.16 | -211.76 | -1.23 | -128.08 | -206.96 | 0.05 | 25.0 | 25.0 | 3.81 | -97.09 | -93.63 | 75.21 | 6.54 | -25.67 | -68.90 | -18725.84 | -573.11 | 168.90 | 69.53 | 97.69 | 17.62 | -25.53 | -13.84 |
| 21Q2 (10) | 13.91 | -17.69 | -21.32 | 0.39 | -90.23 | -92.53 | 100.49 | 260.31 | 440.85 | 99.67 | 265.23 | 457.13 | 7.56 | 246.79 | 464.18 | 4.38 | 247.62 | 427.71 | 0.04 | 0.0 | 0.0 | 130.73 | 119.16 | 134.79 | 70.59 | -15.47 | -28.98 | 0.37 | -97.45 | -98.69 | 99.63 | 15.89 | 38.88 | 23.66 | 5.25 | 0 |
| 21Q1 (9) | 16.90 | -4.57 | -6.16 | 3.99 | -25.14 | -39.64 | 27.89 | 3233.71 | 2012.88 | 27.29 | 1907.28 | 8169.7 | 2.18 | 1916.67 | 7166.67 | 1.26 | 1700.0 | 530.0 | 0.04 | 0.0 | 0.0 | 59.65 | 87.7 | 63.65 | 83.51 | -15.87 | -15.46 | 14.48 | 102.41 | -97.05 | 85.97 | -87.72 | 121.99 | 22.48 | -19.77 | 7.97 |
| 20Q4 (8) | 17.71 | 7.01 | -9.78 | 5.33 | 41.38 | -42.44 | -0.89 | -103.4 | -113.59 | -1.51 | -105.91 | -130.63 | -0.12 | -105.88 | -126.67 | 0.07 | -93.91 | -83.72 | 0.04 | 0.0 | -20.0 | 31.78 | -46.86 | -16.76 | 99.26 | -1.9 | -1.61 | -600.00 | -4220.0 | -523.53 | 700.00 | 719.32 | 1780.0 | 28.02 | 37.02 | 0 |
| 20Q3 (7) | 16.55 | -6.39 | -22.77 | 3.77 | -27.78 | -67.58 | 26.20 | 41.01 | 150.0 | 25.57 | 42.93 | 168.03 | 2.04 | 52.24 | 137.21 | 1.15 | 38.55 | 76.92 | 0.04 | 0.0 | 0.0 | 59.80 | 7.4 | 38.94 | 101.18 | 1.79 | 3.18 | 14.56 | -48.47 | -86.92 | 85.44 | 19.09 | 853.4 | 20.45 | 0 | 18.34 |
| 20Q2 (6) | 17.68 | -1.83 | -15.97 | 5.22 | -21.03 | -54.69 | 18.58 | 1307.58 | 105.76 | 17.89 | 5321.21 | 160.41 | 1.34 | 4366.67 | 112.7 | 0.83 | 315.0 | 50.91 | 0.04 | 0.0 | -20.0 | 55.68 | 52.76 | 35.28 | 99.40 | 0.63 | -5.81 | 28.26 | -94.24 | -77.7 | 71.74 | 118.35 | 357.07 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 18.01 | -8.25 | -30.46 | 6.61 | -28.62 | -59.4 | 1.32 | -79.85 | -90.57 | 0.33 | -93.31 | -97.45 | 0.03 | -93.33 | -97.52 | 0.20 | -53.49 | -76.74 | 0.04 | -20.0 | -20.0 | 36.45 | -4.53 | -19.59 | 98.78 | -2.08 | -2.4 | 490.91 | 246.52 | 322.12 | -390.91 | -838.18 | -2298.76 | 20.82 | 0 | 26.64 |
| 19Q4 (4) | 19.63 | -8.4 | 0.0 | 9.26 | -20.38 | 0.0 | 6.55 | -37.5 | 0.0 | 4.93 | -48.32 | 0.0 | 0.45 | -47.67 | 0.0 | 0.43 | -33.85 | 0.0 | 0.05 | 25.0 | 0.0 | 38.18 | -11.29 | 0.0 | 100.88 | 2.88 | 0.0 | 141.67 | 27.24 | 0.0 | -41.67 | -267.42 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 21.43 | 1.85 | 0.0 | 11.63 | 0.95 | 0.0 | 10.48 | 16.06 | 0.0 | 9.54 | 38.86 | 0.0 | 0.86 | 36.51 | 0.0 | 0.65 | 18.18 | 0.0 | 0.04 | -20.0 | 0.0 | 43.04 | 4.57 | 0.0 | 98.06 | -7.08 | 0.0 | 111.34 | -12.15 | 0.0 | -11.34 | 59.36 | 0.0 | 17.28 | 7.53 | 0.0 |
| 19Q2 (2) | 21.04 | -18.76 | 0.0 | 11.52 | -29.24 | 0.0 | 9.03 | -35.5 | 0.0 | 6.87 | -46.91 | 0.0 | 0.63 | -47.93 | 0.0 | 0.55 | -36.05 | 0.0 | 0.05 | 0.0 | 0.0 | 41.16 | -9.2 | 0.0 | 105.53 | 4.27 | 0.0 | 126.74 | 8.98 | 0.0 | -27.91 | -71.25 | 0.0 | 16.07 | -2.25 | 0.0 |
| 19Q1 (1) | 25.90 | 0.0 | 0.0 | 16.28 | 0.0 | 0.0 | 14.00 | 0.0 | 0.0 | 12.94 | 0.0 | 0.0 | 1.21 | 0.0 | 0.0 | 0.86 | 0.0 | 0.0 | 0.05 | 0.0 | 0.0 | 45.33 | 0.0 | 0.0 | 101.21 | 0.0 | 0.0 | 116.30 | 0.0 | 0.0 | -16.30 | 0.0 | 0.0 | 16.44 | 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) | 21.35 | -32.03 | 9.32 | -55.77 | 29.19 | 31.36 | 10.77 | -43.52 | 8.07 | -53.05 | 2.78 | -59.53 | 2.82 | -36.63 | 0.18 | -18.18 | 49.19 | 9.77 | 100.99 | 33.73 | 86.37 | -21.81 | 13.39 | 0 | 0.02 | -30.12 | 21.53 | 13.92 |
| 2022 (9) | 31.41 | 44.15 | 21.07 | 111.55 | 22.22 | -10.86 | 19.07 | -39.11 | 17.19 | -40.74 | 6.87 | -32.58 | 4.45 | -22.47 | 0.22 | 22.22 | 44.81 | -24.13 | 75.52 | -8.96 | 110.46 | 247.31 | -10.46 | 0 | 0.02 | -41.7 | 18.90 | -9.44 |
| 2021 (8) | 21.79 | 24.66 | 9.96 | 96.84 | 24.93 | -15.95 | 31.32 | 185.77 | 29.01 | 183.58 | 10.19 | 213.54 | 5.74 | 157.4 | 0.18 | 12.5 | 59.06 | 29.72 | 82.95 | -16.43 | 31.81 | -31.39 | 68.19 | 26.44 | 0.04 | -18.05 | 20.87 | -6.16 |
| 2020 (7) | 17.48 | -20.69 | 5.06 | -58.59 | 29.66 | 16.15 | 10.96 | 9.05 | 10.23 | 18.82 | 3.25 | 0.93 | 2.23 | -12.2 | 0.16 | -15.79 | 45.53 | 8.51 | 99.26 | -1.61 | 46.36 | -61.91 | 53.94 | 0 | 0.05 | -14.9 | 22.24 | 18.87 |
| 2019 (6) | 22.04 | -13.16 | 12.22 | -23.1 | 25.54 | 10.61 | 10.05 | -31.35 | 8.61 | -35.99 | 3.22 | -38.55 | 2.54 | -27.01 | 0.19 | 0.0 | 41.96 | -4.81 | 100.88 | 0.39 | 121.69 | 12.07 | -21.43 | 0 | 0.06 | -5.54 | 18.71 | 5.59 |
| 2018 (5) | 25.38 | 46.37 | 15.89 | 147.12 | 23.09 | -11.34 | 14.64 | 281.25 | 13.45 | 340.98 | 5.24 | 429.29 | 3.48 | 167.69 | 0.19 | 26.67 | 44.08 | 21.03 | 100.49 | -11.07 | 108.59 | -34.95 | -8.59 | 0 | 0.06 | 0 | 17.72 | -9.03 |
| 2017 (4) | 17.34 | -29.28 | 6.43 | -53.57 | 26.04 | 13.05 | 3.84 | -2.78 | 3.05 | 108.9 | 0.99 | 120.0 | 1.30 | 46.07 | 0.15 | 0.0 | 36.42 | 12.79 | 113.00 | 4.65 | 166.94 | -52.41 | -66.94 | 0 | 0.00 | 0 | 19.48 | 9.99 |
| 2016 (3) | 24.52 | -12.3 | 13.85 | -21.17 | 23.03 | 6.93 | 3.95 | -67.94 | 1.46 | -85.25 | 0.45 | -85.2 | 0.89 | -57.21 | 0.15 | -6.25 | 32.29 | -14.94 | 107.98 | 18.24 | 350.77 | 145.72 | -250.77 | 0 | 0.00 | 0 | 17.71 | 1.49 |
| 2015 (2) | 27.96 | 7.95 | 17.57 | 9.61 | 21.54 | 7.89 | 12.32 | 8.45 | 9.90 | 3.88 | 3.04 | -4.7 | 2.08 | -8.37 | 0.16 | 0.0 | 37.96 | 2.65 | 91.32 | -8.05 | 142.75 | 1.2 | -42.51 | 0 | 0.00 | 0 | 17.45 | 5.82 |
| 2014 (1) | 25.90 | 0 | 16.03 | 0 | 19.97 | -0.08 | 11.36 | 0 | 9.53 | 0 | 3.19 | 0 | 2.27 | 0 | 0.16 | 6.67 | 36.98 | -5.9 | 99.32 | -15.92 | 141.06 | 24.86 | -41.06 | 0 | 0.00 | 0 | 16.49 | 1.54 |
