- 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 | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 21Q1 (20) | 25.66 | -1.76 | -26.03 | 4.14 | 6.7 | -52.63 | 3.42 | 32.56 | -60.55 | 0.90 | -79.36 | -80.52 | 8.61 | -59.88 | -35.89 | 1.61 | -55.52 | -53.47 | 0.67 | -18.29 | -8.22 | 5.34 | 17.11 | -50.33 | 376.22 | -34.59 | 59.38 | 121.54 | -19.45 | 20.83 | -21.54 | 57.67 | -3583.08 | 0.00 | 0 | -100.0 |
| 20Q4 (19) | 26.12 | -2.76 | -32.38 | 3.88 | 135.63 | -52.91 | 2.58 | 128.48 | -60.43 | 4.36 | 180.0 | -40.68 | 21.46 | 263.82 | -21.79 | 3.62 | 234.07 | -41.23 | 0.82 | 57.69 | -1.2 | 4.56 | 195.0 | -45.39 | 575.21 | 39.51 | 54.51 | 150.88 | 25.51 | 18.98 | -50.88 | -151.71 | -89.76 | 0.00 | 0 | 0 |
| 20Q3 (18) | 26.86 | 4.31 | -38.49 | -10.89 | 20.86 | -4256.0 | -9.06 | 64.3 | -2416.67 | -5.45 | 73.72 | -2080.0 | -13.10 | 62.73 | -1946.87 | -2.70 | 71.28 | -6650.0 | 0.52 | 13.04 | -16.13 | -4.80 | 77.24 | -288.98 | 412.30 | 27.39 | 26.62 | 120.21 | 122.13 | 100.35 | -20.21 | -144.05 | -201.06 | 0.00 | 0 | -100.0 |
| 20Q2 (17) | 25.75 | -25.77 | -43.41 | -13.76 | -257.44 | -639.78 | -25.38 | -392.73 | -1053.64 | -20.74 | -548.92 | -1221.02 | -35.15 | -361.73 | -870.99 | -9.40 | -371.68 | -1089.87 | 0.46 | -36.99 | -19.3 | -21.09 | -296.19 | -2343.62 | 323.65 | 37.11 | 5.44 | 54.12 | -46.2 | -36.04 | 45.88 | 7945.88 | 198.24 | 0.00 | -100.0 | -100.0 |
| 20Q1 (16) | 34.69 | -10.2 | -17.82 | 8.74 | 6.07 | 144.13 | 8.67 | 32.98 | 132.44 | 4.62 | -37.14 | 54.0 | 13.43 | -51.06 | 48.56 | 3.46 | -43.83 | 69.61 | 0.73 | -12.05 | 14.06 | 10.75 | 28.74 | 73.67 | 236.05 | -36.6 | -21.43 | 100.58 | -20.68 | 4.38 | -0.58 | 97.82 | -116.08 | 8.47 | 0 | -42.96 |
| 19Q4 (15) | 38.63 | -11.54 | -4.57 | 8.24 | 3396.0 | 46.1 | 6.52 | 1911.11 | 137.75 | 7.35 | 3040.0 | 140.34 | 27.44 | 4387.5 | 147.34 | 6.16 | 15500.0 | 141.09 | 0.83 | 33.87 | 0.0 | 8.35 | 228.74 | 153.15 | 372.29 | 14.34 | -17.59 | 126.81 | 111.35 | 487.89 | -26.81 | -234.06 | -120.21 | 0.00 | -100.0 | -100.0 |
| 19Q3 (14) | 43.67 | -4.02 | 2.63 | -0.25 | 86.56 | 95.4 | -0.36 | 83.64 | 97.34 | -0.25 | 84.08 | 98.17 | -0.64 | 82.32 | 96.37 | -0.04 | 94.94 | 99.38 | 0.62 | 8.77 | 29.17 | 2.54 | 170.21 | 124.35 | 325.61 | 6.08 | 67.81 | 60.00 | -29.09 | 50.0 | 20.00 | 30.0 | -66.33 | 14.86 | -15.23 | -8.1 |
| 19Q2 (13) | 45.50 | 7.79 | 8.98 | -1.86 | -151.96 | 80.15 | -2.20 | -158.98 | 78.15 | -1.57 | -152.33 | 83.73 | -3.62 | -140.04 | 65.52 | -0.79 | -138.73 | 81.06 | 0.57 | -10.94 | 29.55 | 0.94 | -84.81 | 113.28 | 306.96 | 2.17 | 105.31 | 84.62 | -12.19 | -8.59 | 15.38 | 323.08 | 132.69 | 17.53 | 18.05 | -9.73 |
| 19Q1 (12) | 42.21 | 4.27 | 14.3 | 3.58 | -36.52 | 194.96 | 3.73 | 121.6 | 200.27 | 3.00 | 116.47 | 171.26 | 9.04 | 115.6 | 274.18 | 2.04 | 113.61 | 205.15 | 0.64 | -22.89 | 33.33 | 6.19 | 139.4 | 579.84 | 300.43 | -33.5 | 106.92 | 96.36 | 394.76 | -3.64 | 3.64 | -97.26 | 300.0 | 14.85 | 54.53 | 13.53 |
| 18Q4 (11) | 40.48 | -4.86 | 0 | 5.64 | 203.68 | 0 | -17.27 | -27.83 | 0 | -18.22 | -33.09 | 0 | -57.96 | -229.13 | 0 | -14.99 | -132.76 | 0 | 0.83 | 72.92 | 0 | -15.71 | -50.62 | 0 | 451.76 | 132.83 | 0 | -32.69 | -181.73 | 0 | 132.69 | 123.41 | 0 | 9.61 | -40.57 | 0 |
| 18Q3 (10) | 42.55 | 1.92 | 0 | -5.44 | 41.94 | 0 | -13.51 | -34.16 | 0 | -13.69 | -41.87 | 0 | -17.61 | -67.71 | 0 | -6.44 | -54.44 | 0 | 0.48 | 9.09 | 0 | -10.43 | -47.32 | 0 | 194.03 | 29.78 | 0 | 40.00 | -56.79 | 0 | 59.39 | 798.33 | 0 | 16.17 | -16.74 | 0 |
| 18Q2 (9) | 41.75 | 13.05 | 0 | -9.37 | -148.54 | 0 | -10.07 | -170.7 | 0 | -9.65 | -129.22 | 0 | -10.50 | -102.31 | 0 | -4.17 | -114.95 | 0 | 0.44 | -8.33 | 0 | -7.08 | -448.84 | 0 | 149.51 | 2.98 | 0 | 92.56 | -7.44 | 0 | 6.61 | 463.64 | 0 | 19.42 | 48.47 | 0 |
| 18Q1 (8) | 36.93 | 0 | 0 | -3.77 | 0 | 0 | -3.72 | 0 | 0 | -4.21 | 0 | 0 | -5.19 | 0 | 0 | -1.94 | 0 | 0 | 0.48 | 0 | 0 | -1.29 | 0 | 0 | 145.19 | 0 | 0 | 100.00 | 0 | 0 | -1.82 | 0 | 0 | 13.08 | 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 | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2020 (10) | 28.90 | -31.03 | 0.11 | -96.71 | 1.89 | 12.4 | -1.95 | 0 | -1.24 | 0 | -13.67 | 0 | -2.16 | 0 | 1.97 | -9.63 | 0.80 | -84.53 | 575.21 | 54.51 | -5.79 | 0 | 105.79 | 0 | 2.65 | -18.31 | 11.18 | 0 |
| 2019 (9) | 41.90 | 4.0 | 3.34 | 0 | 1.68 | 0.92 | 2.69 | 0 | 2.95 | 0 | 32.47 | 0 | 6.76 | 0 | 2.18 | 5.31 | 5.17 | 0 | 372.29 | -17.59 | 124.54 | 662.4 | -24.54 | 0 | 3.25 | -14.77 | 0.00 | 0 |
| 2018 (8) | 40.29 | 0.98 | -1.92 | 0 | 1.67 | 5.14 | -11.75 | 0 | -12.15 | 0 | -86.63 | 0 | -24.86 | 0 | 2.07 | 8.95 | -9.38 | 0 | 451.76 | 174.56 | 16.34 | -83.97 | 83.66 | 0 | 3.81 | 0 | 13.76 | 13.16 |
| 2017 (7) | 39.90 | -3.44 | 3.38 | -10.58 | 1.59 | 278.65 | 3.32 | -34.9 | 1.98 | -43.43 | 9.87 | -42.35 | 4.25 | -45.44 | 1.90 | -13.64 | 5.62 | -5.07 | 164.54 | 2.25 | 101.91 | 37.14 | -1.44 | 0 | 0.00 | 0 | 12.16 | -10.32 |
| 2016 (6) | 41.32 | -14.15 | 3.78 | 53.66 | 0.42 | 56.19 | 5.10 | 83.45 | 3.50 | 148.23 | 17.12 | 225.48 | 7.79 | 129.12 | 2.20 | -6.38 | 5.92 | 79.39 | 160.92 | 116.79 | 74.32 | -16.8 | 25.68 | 120.46 | 0.00 | 0 | 13.56 | -11.55 |
| 2015 (5) | 48.13 | -12.62 | 2.46 | 32.26 | 0.27 | -2.15 | 2.78 | 53.59 | 1.41 | 83.12 | 5.26 | 19.27 | 3.40 | 10.03 | 2.35 | -8.2 | 3.30 | 43.48 | 74.23 | 73.07 | 89.32 | -13.31 | 11.65 | 0 | 0.00 | 0 | 15.33 | -9.02 |
| 2014 (4) | 55.08 | -0.43 | 1.86 | 129.63 | 0.27 | -1.51 | 1.81 | 52.1 | 0.77 | 7600.0 | 4.41 | 8720.0 | 3.09 | 865.62 | 2.56 | 5.79 | 2.30 | 29.94 | 42.89 | -17.6 | 103.03 | 51.33 | -3.03 | 0 | 0.00 | 0 | 16.85 | -1.29 |
| 2013 (3) | 55.32 | -3.13 | 0.81 | -82.24 | 0.28 | 52.75 | 1.19 | -73.14 | 0.01 | -99.21 | 0.05 | -99.35 | 0.32 | -92.25 | 2.42 | -12.32 | 1.77 | -65.43 | 52.05 | -52.76 | 68.09 | -33.73 | 31.91 | 0 | 0.00 | 0 | 17.07 | 8.11 |
| 2012 (2) | 57.11 | 0 | 4.56 | 0 | 0.18 | 0 | 4.43 | 0 | 1.27 | 0 | 7.66 | 0 | 4.13 | 0 | 2.76 | 0 | 5.12 | 0 | 110.19 | 0 | 102.74 | 0 | -2.74 | 0 | 0.00 | 0 | 15.79 | 0 |
