- 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) | 86.65 | -5.23 | 54.59 | -39.88 | -1470.45 | 67.83 | -18.01 | -333.59 | 88.96 | -17.53 | -327.37 | 89.12 | -3.16 | -255.67 | 86.13 | -0.41 | -137.61 | 94.41 | 0.05 | -37.5 | 0.0 | 10.00 | -71.0 | 109.13 | 250.09 | 3.06 | 16.26 | 200.00 | 300.0 | 161.54 | -100.00 | -300.0 | -525.0 | 77.30 | 38.41 | -31.65 |
| 23Q3 (19) | 91.43 | 1.44 | 187.79 | 2.91 | 105.09 | 102.06 | 7.71 | 119.31 | 106.64 | 7.71 | 119.31 | 106.64 | 2.03 | 128.92 | 108.84 | 1.09 | 169.43 | 123.75 | 0.08 | 60.0 | 100.0 | 34.48 | 0 | 162.69 | 242.66 | -3.31 | 38.31 | 50.00 | -63.64 | -58.93 | 50.00 | 233.33 | 330.0 | 55.85 | -35.75 | -61.01 |
| 23Q2 (18) | 90.13 | 1.09 | 170.9 | -57.19 | 16.11 | 67.67 | -39.92 | -527.67 | 80.07 | -39.92 | -527.67 | 80.07 | -7.02 | -575.0 | 91.46 | -1.57 | -1146.67 | 78.64 | 0.05 | 0.0 | 25.0 | 0.00 | -100.0 | 100.0 | 250.96 | 7.67 | -78.04 | 137.50 | -90.18 | 57.72 | -37.50 | 96.88 | -392.5 | 86.92 | -4.75 | -42.68 |
| 23Q1 (17) | 89.16 | 59.07 | 88.06 | -68.17 | 45.02 | 48.62 | -6.36 | 96.1 | 95.36 | -6.36 | 96.05 | 95.36 | -1.04 | 95.43 | 97.72 | 0.15 | 102.04 | 102.53 | 0.05 | 0.0 | 0.0 | 40.00 | 136.52 | 150.52 | 233.08 | 8.35 | -70.94 | 1400.00 | 1730.77 | 1343.75 | -1200.00 | -5200.0 | -39700.0 | 91.25 | -19.31 | -26.02 |
| 22Q4 (16) | 56.05 | 76.42 | -27.96 | -123.98 | 12.29 | -59138.1 | -163.17 | -40.47 | -2737.74 | -161.16 | -38.74 | -4813.41 | -22.78 | 0.78 | -1224.42 | -7.34 | -59.91 | -3036.0 | 0.05 | 25.0 | -44.44 | -109.52 | -99.13 | -519.78 | 215.12 | 22.61 | -55.43 | 76.47 | -37.18 | 0 | 23.53 | 208.24 | -76.47 | 113.09 | -21.04 | 112.62 |
| 22Q3 (15) | 31.77 | -4.51 | -51.82 | -141.35 | 20.09 | -46.28 | -116.16 | 42.0 | 5.69 | -116.16 | 42.0 | 5.69 | -22.96 | 72.06 | 36.06 | -4.59 | 37.55 | 28.95 | 0.04 | 0.0 | -33.33 | -55.00 | 59.81 | 22.5 | 175.45 | -84.65 | -65.62 | 121.74 | 39.64 | 54.2 | -21.74 | -269.57 | -203.26 | 143.23 | -5.55 | 26.07 |
| 22Q2 (14) | 33.27 | -29.82 | -57.12 | -176.89 | -33.32 | -22778.21 | -200.27 | -46.18 | -1602.98 | -200.27 | -46.18 | -1602.98 | -82.17 | -80.12 | -1307.02 | -7.35 | -24.16 | -775.0 | 0.04 | -20.0 | -63.64 | -136.84 | -72.84 | -829.81 | 1142.82 | 42.51 | 225.55 | 87.18 | -10.1 | 0 | 12.82 | 323.08 | -87.18 | 151.64 | 22.94 | 193.76 |
| 22Q1 (13) | 47.41 | -39.06 | -39.4 | -132.68 | -63280.95 | -733.92 | -137.00 | -2282.61 | -781.59 | -137.00 | -4076.83 | -781.59 | -45.62 | -2552.33 | -381.6 | -5.92 | -2468.0 | -251.79 | 0.05 | -44.44 | -70.59 | -79.17 | -403.45 | -300.99 | 801.94 | 66.17 | 135.89 | 96.97 | 0 | -7.65 | 3.03 | -96.97 | 160.61 | 123.34 | 131.89 | 155.57 |
| 21Q4 (12) | 77.80 | 17.99 | -6.05 | 0.21 | 100.22 | -99.0 | -5.75 | 95.33 | -147.72 | -3.28 | 97.34 | -124.44 | -1.72 | 95.21 | -113.26 | 0.25 | 103.87 | -91.2 | 0.09 | 50.0 | -50.0 | 26.09 | 136.76 | -19.28 | 482.61 | -5.42 | 16.45 | -0.00 | -100.0 | -100.0 | 100.00 | 375.0 | 233.33 | 53.19 | -53.18 | 27.49 |
| 21Q3 (11) | 65.94 | -15.0 | -21.94 | -96.63 | -12488.46 | -3289.11 | -123.17 | -947.36 | -8713.29 | -123.17 | -947.36 | -8713.29 | -35.91 | -514.9 | -2250.3 | -6.46 | -669.05 | -950.0 | 0.06 | -45.45 | -68.42 | -70.97 | -478.51 | -468.29 | 510.28 | 45.36 | 3.11 | 78.95 | 0 | -47.37 | 21.05 | -78.95 | 121.05 | 113.61 | 120.09 | 75.08 |
| 21Q2 (10) | 77.58 | -0.84 | -21.21 | 0.78 | -96.27 | -86.82 | -11.76 | -158.51 | -313.43 | -11.76 | -158.51 | -313.43 | -5.84 | -136.05 | -186.78 | -0.84 | -121.54 | -152.17 | 0.11 | -35.29 | -45.0 | 18.75 | -52.4 | -23.63 | 351.04 | 3.26 | -32.42 | -0.00 | -100.0 | -100.0 | 100.00 | 2100.0 | 0 | 51.62 | 6.96 | 0 |
| 21Q1 (9) | 78.24 | -5.52 | -19.12 | 20.93 | -0.81 | 109.25 | 20.10 | 66.8 | 108.1 | 20.10 | 49.78 | 108.1 | 16.20 | 24.9 | 123.63 | 3.90 | 37.32 | 122.06 | 0.17 | -5.56 | 142.86 | 39.39 | 21.88 | 120.82 | 339.96 | -17.97 | -29.32 | 105.00 | -40.0 | 15.12 | -5.00 | 93.33 | -156.88 | 48.26 | 15.68 | 0 |
| 20Q4 (8) | 82.81 | -1.97 | 30.72 | 21.10 | 596.37 | 107.05 | 12.05 | 742.66 | 103.85 | 13.42 | 838.46 | 104.29 | 12.97 | 676.65 | 129.57 | 2.84 | 273.68 | 115.59 | 0.18 | -5.26 | 200.0 | 32.32 | 67.72 | 112.93 | 414.43 | -16.26 | 131.58 | 175.00 | 16.67 | 84.21 | -75.00 | 25.0 | -1975.0 | 41.72 | -35.71 | 0 |
| 20Q3 (7) | 84.47 | -14.21 | 13.5 | 3.03 | -48.82 | 100.94 | 1.43 | -74.05 | 100.43 | 1.43 | -74.05 | 100.43 | 1.67 | -75.19 | 106.09 | 0.76 | -52.8 | 105.49 | 0.19 | -5.0 | 375.0 | 19.27 | -21.51 | 107.88 | 494.88 | -4.72 | 346.24 | 150.00 | 28.57 | 55.23 | -100.00 | 0 | -4550.0 | 64.89 | 0 | -73.33 |
| 20Q2 (6) | 98.46 | 1.78 | 25.94 | 5.92 | 102.62 | 102.26 | 5.51 | 102.22 | 101.98 | 5.51 | 102.22 | 101.98 | 6.73 | 109.81 | 136.86 | 1.61 | 109.11 | 116.07 | 0.20 | 185.71 | 400.0 | 24.55 | 112.98 | 111.4 | 519.41 | 7.99 | 526.17 | 116.67 | 27.91 | 23.43 | -0.00 | -100.0 | -100.0 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 96.74 | 52.71 | 26.19 | -226.27 | 24.35 | -154.01 | -248.18 | 20.73 | -150.16 | -248.18 | 20.73 | -150.16 | -68.57 | -56.34 | -252.91 | -17.68 | 2.96 | -79.49 | 0.07 | 16.67 | -30.0 | -189.19 | 24.32 | -144.37 | 480.97 | 168.76 | 542.32 | 91.21 | -3.99 | 0.98 | 8.79 | 119.78 | -9.16 | 0.00 | 0 | -100.0 |
| 19Q4 (4) | 63.35 | -14.88 | 0.0 | -299.09 | 7.03 | 0.0 | -313.07 | 5.21 | 0.0 | -313.08 | 5.21 | 0.0 | -43.86 | -59.96 | 0.0 | -18.22 | -31.65 | 0.0 | 0.06 | 50.0 | 0.0 | -250.00 | -2.27 | 0.0 | 178.96 | 61.37 | 0.0 | 95.00 | -1.69 | 0.0 | 4.00 | 78.0 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 74.42 | -4.81 | 0.0 | -321.72 | -22.69 | 0.0 | -330.28 | -18.96 | 0.0 | -330.28 | -18.96 | 0.0 | -27.42 | -50.16 | 0.0 | -13.84 | -38.12 | 0.0 | 0.04 | 0.0 | 0.0 | -244.44 | -13.49 | 0.0 | 110.90 | 33.69 | 0.0 | 96.63 | 2.23 | 0.0 | 2.25 | -58.99 | 0.0 | 243.33 | 14.25 | 0.0 |
| 19Q2 (2) | 78.18 | 1.98 | 0.0 | -262.23 | -194.38 | 0.0 | -277.65 | -179.86 | 0.0 | -277.65 | -179.86 | 0.0 | -18.26 | 6.02 | 0.0 | -10.02 | -1.73 | 0.0 | 0.04 | -60.0 | 0.0 | -215.38 | -178.2 | 0.0 | 82.95 | 10.78 | 0.0 | 94.52 | 4.65 | 0.0 | 5.48 | -43.38 | 0.0 | 212.98 | 70.13 | 0.0 |
| 19Q1 (1) | 76.66 | 0.0 | 0.0 | -89.08 | 0.0 | 0.0 | -99.21 | 0.0 | 0.0 | -99.21 | 0.0 | 0.0 | -19.43 | 0.0 | 0.0 | -9.85 | 0.0 | 0.0 | 0.10 | 0.0 | 0.0 | -77.42 | 0.0 | 0.0 | 74.88 | 0.0 | 0.0 | 90.32 | 0.0 | 0.0 | 9.68 | 0.0 | 0.0 | 125.19 | 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) | 89.56 | 110.23 | -36.20 | 0 | 14.61 | -56.18 | -11.86 | 0 | -11.75 | 0 | -8.74 | 0 | -0.72 | 0 | 0.22 | 22.22 | 22.47 | 0 | 250.09 | 16.26 | 290.91 | 212.73 | -200.00 | 0 | 0.27 | -91.57 | 75.61 | -42.73 |
| 2022 (9) | 42.60 | -44.24 | -142.76 | 0 | 33.33 | 85.27 | -153.11 | 0 | -152.61 | 0 | -116.78 | 0 | -25.56 | 0 | 0.18 | -59.09 | -94.05 | 0 | 215.12 | -55.43 | 93.02 | 189.41 | 6.98 | -90.23 | 3.16 | -25.13 | 132.02 | 125.64 |
| 2021 (8) | 76.40 | -8.56 | -3.56 | 0 | 17.99 | 10.12 | -11.81 | 0 | -11.33 | 0 | -26.87 | 0 | -2.93 | 0 | 0.44 | -33.33 | 17.57 | 419.82 | 482.61 | 16.45 | 32.14 | -56.11 | 71.43 | 166.92 | 4.21 | -26.18 | 58.51 | -23.46 |
| 2020 (7) | 83.55 | 13.46 | -14.65 | 0 | 16.34 | -57.87 | -20.07 | 0 | -19.68 | 0 | -48.22 | 0 | -11.12 | 0 | 0.66 | 112.9 | 3.38 | 0 | 414.43 | 131.58 | 73.24 | -22.69 | 26.76 | 408.45 | 5.71 | -31.21 | 76.44 | -57.62 |
| 2019 (6) | 73.64 | 12.6 | -207.76 | 0 | 38.78 | 264.49 | -219.39 | 0 | -219.39 | 0 | -169.17 | 0 | -65.77 | 0 | 0.31 | 24.0 | -170.07 | 0 | 178.96 | 37.63 | 94.74 | -40.74 | 5.26 | 0 | 8.30 | -8.9 | 180.36 | 15.52 |
| 2018 (5) | 65.40 | 0 | -165.95 | 0 | 10.64 | -57.45 | -104.10 | 0 | -104.59 | 0 | -55.39 | 0 | -25.55 | 0 | 0.25 | 316.67 | -87.94 | 0 | 130.03 | 37.51 | 159.86 | -59.52 | -59.18 | 0 | 9.11 | 0 | 156.13 | -62.82 |
| 2017 (4) | -10.05 | 0 | -648.27 | 0 | 25.00 | 382.5 | -164.46 | 0 | -182.82 | 0 | -22.80 | 0 | -9.34 | 0 | 0.06 | -68.42 | -81.25 | 0 | 94.56 | -25.85 | 394.94 | 283.49 | -294.94 | 0 | 0.00 | 0 | 419.93 | 392.47 |
| 2016 (3) | 70.37 | 1904.84 | -71.55 | 0 | 5.18 | -33.16 | -69.35 | 0 | -84.16 | 0 | -30.30 | 0 | -15.31 | 0 | 0.19 | 58.33 | -45.60 | 0 | 127.52 | 106.38 | 102.99 | 21.59 | -2.99 | 0 | 0.00 | 0 | 85.27 | -31.48 |
| 2015 (2) | 3.51 | -88.83 | -184.30 | 0 | 7.75 | 0.18 | -217.48 | 0 | -210.80 | 0 | -36.16 | 0 | -23.70 | 0 | 0.12 | -7.69 | -179.07 | 0 | 61.79 | 56.39 | 84.70 | -21.65 | 15.30 | 0 | 0.00 | 0 | 124.45 | 30.06 |
| 2014 (1) | 31.43 | 0 | -119.15 | 0 | 7.74 | 169.73 | -110.12 | 0 | -114.05 | 0 | -19.83 | 0 | -13.96 | 0 | 0.13 | -23.53 | -76.19 | 0 | 39.51 | 12.82 | 108.11 | -83.94 | -8.11 | 0 | 0.00 | 0 | 95.69 | 34.6 |
