- 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) | 12.84 | -44.03 | -51.98 | -19.63 | -308.39 | -274.96 | -37.83 | -1751.97 | -1103.45 | -38.90 | -7727.45 | -1089.82 | -16.67 | -3804.44 | -536.39 | -4.76 | -1352.63 | -490.16 | 0.13 | -50.0 | -50.0 | -33.90 | -882.91 | -671.67 | 225.12 | -6.02 | -13.82 | 52.24 | -87.29 | -82.19 | 47.76 | 115.35 | 124.7 | 21.02 | 41.55 | 47.3 |
| 23Q3 (19) | 22.94 | -9.26 | 14.93 | 9.42 | -15.52 | 299.15 | 2.29 | -83.54 | -64.5 | 0.51 | -96.33 | -92.09 | 0.45 | -96.57 | -94.12 | 0.38 | -90.57 | -80.71 | 0.26 | -3.7 | 0.0 | 4.33 | -72.59 | -52.26 | 239.54 | 1.71 | -13.85 | 411.11 | 411.6 | 950.62 | -311.11 | -1683.84 | -577.04 | 14.85 | 6.83 | -8.11 |
| 23Q2 (18) | 25.28 | 38.22 | 12.06 | 11.15 | 1243.37 | 314.5 | 13.91 | 396.79 | -17.84 | 13.91 | 396.79 | -17.84 | 13.12 | 435.51 | -52.1 | 4.03 | 328.72 | -10.84 | 0.27 | 12.5 | 8.0 | 15.80 | 227.12 | -20.72 | 235.52 | -8.49 | -50.97 | 80.36 | 167.86 | 422.32 | 19.64 | -71.94 | -76.79 | 13.90 | -20.84 | -20.11 |
| 23Q1 (17) | 18.29 | -31.6 | -21.6 | 0.83 | -92.6 | 111.74 | 2.80 | -25.73 | -33.81 | 2.80 | -28.75 | -33.81 | 2.45 | -35.86 | -62.65 | 0.94 | -22.95 | 0.0 | 0.24 | -7.69 | 33.33 | 4.83 | -18.55 | -41.45 | 257.37 | -1.47 | -57.49 | 30.00 | -89.77 | 118.0 | 70.00 | 136.21 | -72.61 | 17.56 | 23.06 | -25.56 |
| 22Q4 (16) | 26.74 | 33.97 | 100.45 | 11.22 | 375.42 | 232.94 | 3.77 | -41.55 | -35.88 | 3.93 | -39.07 | -31.65 | 3.82 | -50.07 | -79.75 | 1.22 | -38.07 | -13.48 | 0.26 | 0.0 | 23.81 | 5.93 | -34.62 | -28.03 | 261.22 | -6.05 | -75.66 | 293.33 | 649.63 | 309.52 | -193.33 | -396.44 | -180.56 | 14.27 | -11.7 | -30.69 |
| 22Q3 (15) | 19.96 | -11.52 | 50.53 | 2.36 | -12.27 | 126.16 | 6.45 | -61.9 | 183.33 | 6.45 | -61.9 | 183.33 | 7.65 | -72.07 | 124.49 | 1.97 | -56.42 | 234.01 | 0.26 | 4.0 | 18.18 | 9.07 | -54.49 | 284.35 | 278.04 | -42.12 | -87.06 | 39.13 | 154.35 | -67.39 | 65.22 | -22.92 | 534.78 | 16.16 | -7.13 | 13.64 |
| 22Q2 (14) | 22.56 | -3.3 | 21.1 | 2.69 | 138.05 | 185.67 | 16.93 | 300.24 | 588.21 | 16.93 | 300.24 | 588.21 | 27.39 | 317.53 | 209.14 | 4.52 | 380.85 | 679.31 | 0.25 | 38.89 | 13.64 | 19.93 | 141.58 | 365.65 | 480.35 | -20.67 | -66.63 | 15.38 | 109.23 | 111.54 | 84.62 | -66.89 | -63.74 | 17.40 | -26.24 | -16.95 |
| 22Q1 (13) | 23.33 | 74.89 | 5.0 | -7.07 | 16.23 | -57.11 | 4.23 | -28.06 | 359.51 | 4.23 | -26.43 | 359.51 | 6.56 | -65.22 | 224.01 | 0.94 | -33.33 | 954.55 | 0.18 | -14.29 | -10.0 | 8.25 | 0.12 | 511.11 | 605.48 | -43.57 | -62.53 | -166.67 | -19.05 | -166.67 | 255.56 | 6.48 | 270.37 | 23.59 | 14.57 | -1.5 |
| 21Q4 (12) | 13.34 | 0.6 | -22.49 | -8.44 | 6.43 | -50.45 | 5.88 | 175.97 | 146.85 | 5.75 | 174.29 | 143.63 | 18.86 | 160.37 | 144.73 | 1.41 | 195.92 | 147.96 | 0.21 | -4.55 | -12.5 | 8.24 | 267.48 | 181.83 | 1073.02 | -50.06 | -28.02 | -140.00 | -216.67 | -406.25 | 240.00 | 1700.0 | 342.11 | 20.59 | 44.8 | -9.61 |
| 21Q3 (11) | 13.26 | -28.82 | -41.87 | -9.02 | -187.26 | -347.12 | -7.74 | -414.63 | -341.88 | -7.74 | -414.63 | -341.88 | -31.24 | -452.6 | -451.01 | -1.47 | -353.45 | -254.74 | 0.22 | 0.0 | -4.35 | -4.92 | -214.95 | -190.28 | 2148.50 | 49.26 | 105.12 | 120.00 | 190.0 | 8.0 | -15.00 | -106.43 | -35.0 | 14.22 | -32.12 | -25.35 |
| 21Q2 (10) | 18.63 | -16.16 | 7.25 | -3.14 | 30.22 | -748.65 | 2.46 | 250.92 | 146.42 | 2.46 | 250.92 | 146.42 | 8.86 | 267.49 | 157.61 | 0.58 | 627.27 | 153.7 | 0.22 | 10.0 | -12.0 | 4.28 | 217.04 | 238.51 | 1439.44 | -10.92 | 25.7 | -133.33 | -153.33 | -2100.0 | 233.33 | 255.56 | 150.0 | 20.95 | -12.53 | 0 |
| 21Q1 (9) | 22.22 | 29.11 | -5.97 | -4.50 | 19.79 | 54.22 | -1.63 | 87.01 | 5.78 | -1.63 | 87.63 | 5.78 | -5.29 | 87.45 | -67.41 | -0.11 | 96.26 | -37.5 | 0.20 | -16.67 | 25.0 | 1.35 | 113.41 | -11.76 | 1615.83 | 8.39 | 59.12 | 250.00 | 446.88 | -60.53 | -150.00 | -376.32 | 71.88 | 23.95 | 5.14 | 0 |
| 20Q4 (8) | 17.21 | -24.55 | -10.88 | -5.61 | -253.7 | -1302.5 | -12.55 | -492.19 | -187.19 | -13.18 | -511.87 | -199.55 | -42.16 | -573.71 | -221.34 | -2.94 | -409.47 | -200.0 | 0.24 | 4.35 | -14.29 | -10.07 | -284.77 | -334.05 | 1490.70 | 42.32 | 44.32 | 45.71 | -58.86 | 585.71 | 54.29 | 588.57 | -41.84 | 22.78 | 19.58 | 30.92 |
| 20Q3 (7) | 22.81 | 31.32 | -6.25 | 3.65 | 1086.49 | -44.95 | 3.20 | 160.38 | -63.22 | 3.20 | 160.38 | -63.22 | 8.90 | 157.87 | -65.06 | 0.95 | 187.96 | -61.38 | 0.23 | -8.0 | -11.54 | 5.45 | 276.38 | -49.68 | 1047.43 | -8.53 | 14.59 | 111.11 | 1566.67 | 42.86 | -11.11 | -111.9 | -142.86 | 19.05 | 0 | -3.84 |
| 20Q2 (6) | 17.37 | -26.49 | -29.62 | -0.37 | 96.24 | -101.39 | -5.30 | -206.36 | -121.14 | -5.30 | -206.36 | -121.17 | -15.38 | -386.71 | -113.86 | -1.08 | -1250.0 | -119.08 | 0.25 | 56.25 | 13.64 | -3.09 | -301.96 | -110.96 | 1145.16 | 12.77 | -5.53 | 6.67 | -98.95 | -93.72 | 93.33 | 117.5 | 1616.67 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 23.63 | 22.37 | 12.58 | -9.83 | -2357.5 | -674.02 | -1.73 | 60.41 | -408.82 | -1.73 | 60.68 | -394.29 | -3.16 | 75.91 | 13.42 | -0.08 | 91.84 | -157.14 | 0.16 | -42.86 | -33.33 | 1.53 | 165.95 | -36.51 | 1015.45 | -1.69 | -77.55 | 633.33 | 9400.0 | 58.33 | -533.33 | -671.43 | -77.78 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 19.31 | -20.63 | 0.0 | -0.40 | -106.03 | 0.0 | -4.37 | -150.23 | 0.0 | -4.40 | -150.57 | 0.0 | -13.12 | -151.51 | 0.0 | -0.98 | -139.84 | 0.0 | 0.28 | 7.69 | 0.0 | -2.32 | -121.42 | 0.0 | 1032.92 | 13.0 | 0.0 | 6.67 | -91.43 | 0.0 | 93.33 | 260.0 | 0.0 | 17.40 | -12.17 | 0.0 |
| 19Q3 (3) | 24.33 | -1.42 | 0.0 | 6.63 | -75.08 | 0.0 | 8.70 | -65.3 | 0.0 | 8.70 | -65.26 | 0.0 | 25.47 | -77.04 | 0.0 | 2.46 | -56.54 | 0.0 | 0.26 | 18.18 | 0.0 | 10.83 | -61.58 | 0.0 | 914.08 | -24.59 | 0.0 | 77.78 | -26.73 | 0.0 | 25.93 | 521.3 | 0.0 | 19.81 | -2.22 | 0.0 |
| 19Q2 (2) | 24.68 | 17.58 | 0.0 | 26.60 | 2194.49 | 0.0 | 25.07 | 7473.53 | 0.0 | 25.04 | 7254.29 | 0.0 | 110.94 | 3139.45 | 0.0 | 5.66 | 3942.86 | 0.0 | 0.22 | -8.33 | 0.0 | 28.19 | 1069.71 | 0.0 | 1212.14 | -73.21 | 0.0 | 106.15 | -73.46 | 0.0 | -6.15 | 97.95 | 0.0 | 20.26 | 11.81 | 0.0 |
| 19Q1 (1) | 20.99 | 0.0 | 0.0 | -1.27 | 0.0 | 0.0 | -0.34 | 0.0 | 0.0 | -0.35 | 0.0 | 0.0 | -3.65 | 0.0 | 0.0 | 0.14 | 0.0 | 0.0 | 0.24 | 0.0 | 0.0 | 2.41 | 0.0 | 0.0 | 4523.86 | 0.0 | 0.0 | 400.00 | 0.0 | 0.0 | -300.00 | 0.0 | 0.0 | 18.12 | 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) | 21.08 | -9.22 | 3.79 | 4.41 | 0.98 | -41.08 | 0.61 | -92.18 | -0.05 | 0 | -0.18 | 0 | 0.99 | -88.28 | 0.98 | 1.03 | 2.94 | -72.29 | 225.12 | -13.82 | 625.00 | 1245.11 | -525.00 | 0 | 0.00 | 0 | 16.10 | -5.79 |
| 2022 (9) | 23.22 | 39.38 | 3.63 | 0 | 1.66 | 10.63 | 7.80 | 0 | 7.85 | 0 | 39.81 | 0 | 8.45 | 1960.98 | 0.97 | 11.49 | 10.61 | 361.3 | 261.22 | -75.66 | 46.46 | -97.79 | 53.54 | 0 | 0.00 | 0 | 17.09 | -13.47 |
| 2021 (8) | 16.66 | -16.49 | -6.35 | 0 | 1.50 | 11.54 | -0.28 | 0 | -0.31 | 0 | -3.64 | 0 | 0.41 | 0 | 0.87 | -1.14 | 2.30 | 0 | 1073.02 | -28.02 | 2100.00 | 3534.62 | -2033.33 | 0 | 0.00 | 0 | 19.75 | -11.36 |
| 2020 (7) | 19.95 | -10.01 | -2.49 | 0 | 1.35 | 1.82 | -4.32 | 0 | -4.49 | 0 | -51.98 | 0 | -3.09 | 0 | 0.88 | -12.0 | -1.73 | 0 | 1490.70 | 44.32 | 57.78 | -48.34 | 42.22 | 0 | 0.09 | 9.24 | 22.28 | 18.45 |
| 2019 (6) | 22.17 | -3.98 | 7.01 | 0 | 1.32 | -17.87 | 6.31 | 0 | 6.29 | 0 | 109.75 | 0 | 7.19 | 871.62 | 1.00 | 14.94 | 8.77 | 218.91 | 1032.92 | -73.49 | 111.84 | -75.15 | -10.53 | 0 | 0.08 | 0 | 18.81 | -7.61 |
| 2018 (5) | 23.09 | -3.47 | -0.82 | 0 | 1.61 | -36.78 | -0.19 | 0 | -0.17 | 0 | -10.99 | 0 | 0.74 | 0 | 0.87 | -4.4 | 2.75 | 0 | 3896.54 | -90.64 | 450.00 | 0 | -350.00 | 0 | 0.00 | 0 | 20.36 | 13.05 |
| 2017 (4) | 23.92 | 68.1 | 2.57 | 0 | 2.55 | -22.91 | -4.52 | 0 | -4.75 | 0 | -255.02 | 0 | -3.46 | 0 | 0.91 | 4.6 | -0.76 | 0 | 41648.90 | 1195.35 | -56.60 | 0 | 156.60 | 0 | 0.00 | 0 | 18.01 | -6.64 |
| 2016 (3) | 14.23 | 97.09 | -9.59 | 0 | 3.31 | 4.26 | -6.70 | 0 | -6.60 | 0 | -114.17 | 0 | -4.88 | 0 | 0.87 | 2.35 | -2.18 | 0 | 3215.25 | 135.87 | 143.37 | -64.43 | -43.37 | 0 | 0.00 | 0 | 19.29 | 0.31 |
| 2015 (2) | 7.22 | 7.76 | -18.15 | 0 | 3.17 | 32.27 | -4.50 | 0 | -4.98 | 0 | -51.81 | 0 | -3.39 | 0 | 0.85 | 3.66 | -0.14 | 0 | 1363.15 | 39.67 | 403.12 | 109.17 | -303.12 | 0 | 0.00 | 0 | 19.23 | -4.52 |
| 2014 (1) | 6.70 | 0 | -20.08 | 0 | 2.40 | -2.98 | -10.41 | 0 | -11.07 | 0 | -63.08 | 0 | -8.23 | 0 | 0.82 | 15.49 | -6.50 | 0 | 975.95 | 131.2 | 192.73 | 91.92 | -92.73 | 0 | 0.00 | 0 | 20.14 | 21.77 |
