- 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) | 14.34 | 0.91 | -19.93 | 7.98 | 10.22 | 592.59 | 6.98 | -4.77 | 3134.78 | 5.14 | -21.17 | 447.3 | 10.42 | -15.56 | 1163.27 | 3.58 | -15.76 | 1152.94 | 0.69 | 7.81 | 155.56 | 7.29 | -5.45 | 474.02 | 190.74 | -4.66 | 40.67 | 114.17 | 16.38 | -77.17 | -14.17 | -1587.5 | 96.46 | 4.61 | -6.3 | -67.12 |
| 23Q3 (19) | 14.21 | -4.37 | -39.27 | 7.24 | -14.52 | 153.47 | 7.33 | -12.22 | 158.55 | 6.52 | -21.35 | 148.66 | 12.34 | -12.98 | 436.24 | 4.25 | -18.58 | 372.44 | 0.64 | 3.23 | 433.33 | 7.71 | -11.89 | 188.62 | 200.07 | 7.04 | 33.73 | 98.10 | -3.95 | -14.17 | 0.95 | 189.52 | 113.33 | 4.92 | 14.69 | -79.37 |
| 23Q2 (18) | 14.86 | -11.39 | -34.65 | 8.47 | -7.83 | 126.59 | 8.35 | -12.2 | 122.45 | 8.29 | -15.67 | 123.01 | 14.18 | 12.45 | 369.07 | 5.22 | 1.56 | 283.8 | 0.62 | 19.23 | 675.0 | 8.75 | -13.54 | 128.0 | 186.92 | 17.29 | 82.17 | 102.13 | 5.13 | 22.55 | -1.06 | -137.23 | -108.51 | 4.29 | -27.9 | -88.72 |
| 23Q1 (17) | 16.77 | -6.37 | -20.82 | 9.19 | 667.28 | 127.67 | 9.51 | 4234.78 | 128.85 | 9.83 | 764.19 | 129.81 | 12.61 | 1386.73 | 370.6 | 5.14 | 1611.76 | 281.63 | 0.52 | 92.59 | 477.78 | 10.12 | 696.85 | 138.7 | 159.37 | 17.54 | 150.35 | 97.14 | -80.57 | -7.27 | 2.86 | 100.71 | 0 | 5.95 | -57.56 | -84.77 |
| 22Q4 (16) | 17.91 | -23.46 | -40.52 | -1.62 | 88.04 | 93.05 | -0.23 | 98.16 | 98.72 | -1.48 | 88.96 | 91.69 | -0.98 | 73.3 | 56.44 | -0.34 | 78.21 | 75.54 | 0.27 | 125.0 | 237.5 | 1.27 | 114.6 | 112.7 | 135.59 | -9.37 | 123.27 | 500.00 | 337.5 | 292.86 | -400.00 | -5500.0 | -1366.67 | 14.02 | -41.22 | -61.06 |
| 22Q3 (15) | 23.40 | 2.9 | 5.12 | -13.54 | 57.5 | 93.02 | -12.52 | 66.34 | 90.46 | -13.40 | 62.81 | 89.69 | -3.67 | 30.36 | 1.87 | -1.56 | 45.07 | 34.45 | 0.12 | 50.0 | 500.0 | -8.70 | 72.16 | 91.3 | 149.61 | 45.8 | 173.61 | 114.29 | 37.14 | -19.58 | -7.14 | -157.14 | 84.92 | 23.85 | -37.3 | -83.96 |
| 22Q2 (14) | 22.74 | 7.37 | 2.66 | -31.86 | 4.07 | -18.84 | -37.19 | -12.83 | -221.99 | -36.03 | -9.28 | -211.95 | -5.27 | -13.09 | -229.37 | -2.84 | -0.35 | -178.43 | 0.08 | -11.11 | -11.11 | -31.25 | -19.5 | -628.44 | 102.61 | 61.18 | 86.97 | 83.33 | -20.45 | -64.91 | 12.50 | 0 | 109.09 | 38.04 | -2.64 | 12.28 |
| 22Q1 (13) | 21.18 | -29.66 | 0.86 | -33.21 | -42.53 | 35.74 | -32.96 | -83.42 | -16.76 | -32.97 | -85.02 | -24.89 | -4.66 | -107.11 | -55.85 | -2.83 | -103.6 | -40.8 | 0.09 | 12.5 | 12.5 | -26.15 | -161.5 | -26.39 | 63.66 | 4.82 | 27.65 | 104.76 | -17.69 | -44.13 | -0.00 | 100.0 | 100.0 | 39.07 | 8.53 | -27.38 |
| 21Q4 (12) | 30.11 | 35.27 | -18.53 | -23.30 | 87.98 | -298.3 | -17.97 | 86.31 | -273.12 | -17.82 | 86.29 | -365.97 | -2.25 | 39.84 | -220.97 | -1.39 | 41.6 | -214.88 | 0.08 | 300.0 | -55.56 | -10.00 | 90.0 | -168.59 | 60.73 | 11.06 | 39.23 | 127.27 | -10.44 | 12.3 | -27.27 | 42.42 | -104.55 | 36.00 | -75.79 | 92.72 |
| 21Q3 (11) | 22.26 | 0.5 | 82.76 | -193.85 | -623.05 | -376.29 | -131.29 | -1036.71 | -306.72 | -129.98 | -1025.37 | -274.8 | -3.74 | -133.75 | 42.19 | -2.38 | -133.33 | 33.33 | 0.02 | -77.78 | -80.0 | -100.00 | -2231.0 | -296.04 | 54.68 | -0.36 | -24.91 | 142.11 | -40.17 | 13.68 | -47.37 | 65.55 | -89.47 | 148.67 | 338.81 | 253.56 |
| 21Q2 (10) | 22.15 | 5.48 | -55.58 | -26.81 | 48.12 | 87.93 | -11.55 | 59.09 | 71.66 | -11.55 | 56.25 | 40.74 | -1.60 | 46.49 | -100.0 | -1.02 | 49.25 | -175.68 | 0.09 | 12.5 | 350.0 | -4.29 | 79.27 | 50.69 | 54.88 | 10.05 | -35.93 | 237.50 | 26.67 | -58.09 | -137.50 | -57.14 | 70.54 | 33.88 | -37.03 | 0 |
| 21Q1 (9) | 21.00 | -43.18 | 106.49 | -51.68 | -539.83 | -2249.09 | -28.23 | -371.97 | -1560.59 | -26.40 | -494.03 | -1841.18 | -2.99 | -260.75 | -67.04 | -2.01 | -266.12 | -183.1 | 0.08 | -55.56 | -84.91 | -20.69 | -241.91 | -2898.55 | 49.87 | 14.33 | -57.01 | 187.50 | 65.44 | 40.63 | -87.50 | -556.25 | -162.5 | 53.80 | 188.01 | 0 |
| 20Q4 (8) | 36.96 | 203.45 | 353.5 | 11.75 | 128.87 | 3257.14 | 10.38 | 132.16 | 1753.57 | 6.70 | 119.32 | 1495.24 | 1.86 | 128.75 | 86.0 | 1.21 | 133.89 | 245.71 | 0.18 | 80.0 | -77.22 | 14.58 | 157.74 | 1115.0 | 43.62 | -40.1 | -76.13 | 113.33 | -9.33 | 98.33 | -13.33 | 46.67 | -131.11 | 18.68 | -55.58 | 217.15 |
| 20Q3 (7) | 12.18 | -75.57 | 72.52 | -40.70 | 81.68 | -11405.56 | -32.28 | 20.79 | -4036.59 | -34.68 | -77.94 | -5435.38 | -6.47 | -708.75 | -496.93 | -3.57 | -864.86 | -695.0 | 0.10 | 400.0 | -88.51 | -25.25 | -190.23 | -1806.08 | 72.82 | -14.99 | -66.22 | 125.00 | -77.94 | 150.0 | -25.00 | 94.64 | -141.67 | 42.05 | 0 | 727.76 |
| 20Q2 (6) | 49.86 | 390.27 | 469.18 | -222.18 | -9999.09 | -12723.86 | -40.75 | -2297.06 | -2040.48 | -19.49 | -1333.09 | -1267.07 | -0.80 | 55.31 | -109.3 | -0.37 | 47.89 | -111.82 | 0.02 | -96.23 | -98.92 | -8.70 | -1160.87 | -422.22 | 85.66 | -26.16 | -56.67 | 566.67 | 325.0 | 577.54 | -466.67 | -1300.0 | -2951.85 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 10.17 | 24.79 | 27.28 | -2.20 | -728.57 | -289.66 | -1.70 | -403.57 | -215.65 | -1.36 | -423.81 | -215.25 | -1.79 | -279.0 | -159.47 | -0.71 | -302.86 | -160.68 | 0.53 | -32.91 | -45.92 | -0.69 | -157.5 | -133.17 | 116.00 | -36.51 | -30.16 | 133.33 | 133.33 | 68.89 | -33.33 | -177.78 | -258.33 | 0.00 | -100.0 | 0 |
| 19Q4 (4) | 8.15 | 15.44 | 0.0 | 0.35 | -2.78 | 0.0 | 0.56 | -31.71 | 0.0 | 0.42 | -35.38 | 0.0 | 1.00 | -38.65 | 0.0 | 0.35 | -41.67 | 0.0 | 0.79 | -9.2 | 0.0 | 1.20 | -18.92 | 0.0 | 182.72 | -15.24 | 0.0 | 57.14 | 14.29 | 0.0 | 42.86 | -28.57 | 0.0 | 5.89 | 15.94 | 0.0 |
| 19Q3 (3) | 7.06 | -19.41 | 0.0 | 0.36 | -79.55 | 0.0 | 0.82 | -60.95 | 0.0 | 0.65 | -61.08 | 0.0 | 1.63 | -81.05 | 0.0 | 0.60 | -80.83 | 0.0 | 0.87 | -52.97 | 0.0 | 1.48 | -45.19 | 0.0 | 215.57 | 9.06 | 0.0 | 50.00 | -40.22 | 0.0 | 60.00 | 266.67 | 0.0 | 5.08 | -4.33 | 0.0 |
| 19Q2 (2) | 8.76 | 9.64 | 0.0 | 1.76 | 51.72 | 0.0 | 2.10 | 42.86 | 0.0 | 1.67 | 41.53 | 0.0 | 8.60 | 185.71 | 0.0 | 3.13 | 167.52 | 0.0 | 1.85 | 88.78 | 0.0 | 2.70 | 29.81 | 0.0 | 197.67 | 19.01 | 0.0 | 83.64 | 5.94 | 0.0 | 16.36 | -22.27 | 0.0 | 5.31 | 0 | 0.0 |
| 19Q1 (1) | 7.99 | 0.0 | 0.0 | 1.16 | 0.0 | 0.0 | 1.47 | 0.0 | 0.0 | 1.18 | 0.0 | 0.0 | 3.01 | 0.0 | 0.0 | 1.17 | 0.0 | 0.0 | 0.98 | 0.0 | 0.0 | 2.08 | 0.0 | 0.0 | 166.09 | 0.0 | 0.0 | 78.95 | 0.0 | 0.0 | 21.05 | 0.0 | 0.0 | 0.00 | 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) | 14.78 | -25.99 | 8.06 | 0 | 0.28 | -88.85 | 7.76 | 0 | 6.94 | 0 | 48.62 | 0 | 18.22 | 0 | 2.60 | 372.73 | 8.16 | 0 | 190.74 | 40.67 | 103.86 | -1.09 | -3.86 | 0 | 0.00 | 0 | 4.82 | -77.77 |
| 2022 (9) | 19.97 | -17.45 | -11.18 | 0 | 2.50 | -66.27 | -10.76 | 0 | -11.52 | 0 | -12.74 | 0 | -6.14 | 0 | 0.55 | 103.7 | -7.69 | 0 | 135.59 | 123.27 | 105.00 | -37.0 | -3.33 | 0 | 0.00 | 0 | 21.68 | -55.09 |
| 2021 (8) | 24.19 | 59.46 | -44.60 | 0 | 7.43 | 207.86 | -26.63 | 0 | -25.96 | 0 | -10.57 | 0 | -6.83 | 0 | 0.27 | -69.32 | -17.33 | 0 | 60.73 | 39.23 | 166.67 | -28.57 | -66.67 | 0 | 0.13 | -66.89 | 48.27 | 161.2 |
| 2020 (7) | 15.17 | 85.23 | -9.12 | 0 | 2.41 | 360.97 | -3.90 | 0 | -3.93 | 0 | -7.41 | 0 | -3.36 | 0 | 0.88 | -76.15 | -1.01 | 0 | 43.62 | -76.13 | 233.33 | 209.7 | -133.33 | 0 | 0.40 | 50.8 | 18.48 | 242.86 |
| 2019 (6) | 8.19 | 15.19 | 1.07 | 1237.5 | 0.52 | 287.96 | 1.41 | 74.07 | 1.11 | 79.03 | 11.13 | 73.09 | 4.21 | 56.51 | 3.69 | -12.56 | 2.03 | 103.0 | 182.72 | 15.04 | 75.34 | 691.1 | 23.29 | -74.26 | 0.27 | 14.24 | 5.39 | 1.51 |
| 2018 (5) | 7.11 | -20.2 | 0.08 | -94.24 | 0.13 | 36.92 | 0.81 | -49.38 | 0.62 | -49.59 | 6.43 | -51.98 | 2.69 | -54.79 | 4.22 | -12.63 | 1.00 | -42.2 | 158.83 | 18.59 | 9.52 | -88.98 | 90.48 | 566.23 | 0.23 | -9.52 | 5.31 | -10.0 |
| 2017 (4) | 8.91 | 68.75 | 1.39 | 0 | 0.10 | -12.48 | 1.60 | 0 | 1.23 | 0 | 13.39 | 0 | 5.95 | 0 | 4.83 | 6.86 | 1.73 | 0 | 133.93 | 16.46 | 86.42 | -9.51 | 13.58 | 202.16 | 0.26 | 0 | 5.90 | 11.53 |
| 2016 (3) | 5.28 | -44.83 | -1.60 | 0 | 0.11 | -8.89 | -1.67 | 0 | -1.36 | 0 | -15.11 | 0 | -6.14 | 0 | 4.52 | 20.53 | -1.46 | 0 | 115.00 | -26.24 | 95.51 | -3.55 | 4.49 | 358.43 | 0.00 | 0 | 5.29 | -5.54 |
| 2015 (2) | 9.57 | 22.07 | 2.09 | 148.81 | 0.12 | 25.76 | 2.10 | 35.48 | 2.29 | 76.15 | 16.77 | 3.71 | 6.50 | 7.62 | 3.75 | -18.3 | 2.29 | 33.92 | 155.91 | -5.54 | 99.02 | 81.92 | 0.98 | -97.85 | 0.00 | 0 | 5.60 | 10.24 |
| 2014 (1) | 7.84 | 0 | 0.84 | 0 | 0.10 | -23.54 | 1.55 | 0 | 1.30 | 0 | 16.17 | 0 | 6.04 | 0 | 4.59 | -8.02 | 1.71 | 0.0 | 165.06 | -6.4 | 54.43 | -30.02 | 45.57 | 105.06 | 0.00 | 0 | 5.08 | -11.03 |
