- 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) | 34.25 | -15.08 | 40.14 | 15.97 | -28.74 | 288.56 | 13.65 | -49.2 | 607.25 | 9.85 | -58.26 | 556.67 | 1.87 | -58.72 | 750.0 | 1.40 | -58.46 | 600.0 | 0.14 | 0.0 | 27.27 | 15.69 | -43.96 | 182.19 | 43.01 | 35.34 | 16.72 | 114.29 | 35.06 | 14.29 | -14.29 | -192.86 | 85.71 | 14.78 | -6.16 | -25.73 |
| 23Q3 (19) | 40.33 | 19.25 | 48.93 | 22.41 | 85.82 | 570.96 | 26.87 | 54.16 | 801.68 | 23.60 | 73.27 | 5016.67 | 4.53 | 104.05 | 6571.43 | 3.37 | 106.75 | 16950.0 | 0.14 | 16.67 | 27.27 | 28.00 | 43.52 | 390.37 | 31.78 | -20.89 | -1.79 | 84.62 | 18.46 | -15.38 | 15.38 | -46.15 | 0 | 15.75 | -22.11 | -27.35 |
| 23Q2 (18) | 33.82 | 0.18 | 249.02 | 12.06 | 79.46 | 125.45 | 17.43 | 230.74 | 151.01 | 13.62 | 221.23 | 131.38 | 2.22 | 326.92 | 183.77 | 1.63 | 297.56 | 180.3 | 0.12 | 33.33 | 140.0 | 19.51 | 192.5 | 173.15 | 40.17 | 4.18 | 26.24 | 71.43 | -28.57 | -48.98 | 28.57 | 0 | 171.43 | 20.22 | -23.15 | -57.17 |
| 23Q1 (17) | 33.76 | 38.13 | -24.79 | 6.72 | 63.5 | 139.51 | 5.27 | 173.06 | 187.25 | 4.24 | 182.67 | 170.43 | 0.52 | 136.36 | 279.31 | 0.41 | 105.0 | 305.0 | 0.09 | -18.18 | 125.0 | 6.67 | 19.96 | 0 | 38.56 | 4.64 | 49.4 | 100.00 | 0.0 | -50.0 | 0.00 | 100.0 | 100.0 | 26.31 | 32.21 | -54.38 |
| 22Q4 (16) | 24.44 | -9.75 | 388.21 | 4.11 | 23.05 | 107.09 | 1.93 | -35.23 | -99.63 | 1.50 | 412.5 | -99.7 | 0.22 | 414.29 | -99.58 | 0.20 | 1100.0 | -99.47 | 0.11 | 0.0 | 57.14 | 5.56 | -2.63 | -98.95 | 36.85 | 13.88 | 43.89 | 100.00 | 0.0 | 1016.67 | -100.00 | 0 | -190.16 | 19.90 | -8.21 | -56.92 |
| 22Q3 (15) | 27.08 | 179.46 | 140.5 | 3.34 | 107.05 | 110.75 | 2.98 | 108.72 | 111.8 | -0.48 | 98.89 | 98.13 | -0.07 | 97.36 | 97.5 | -0.02 | 99.01 | 98.91 | 0.11 | 120.0 | 57.14 | 5.71 | 121.41 | 130.45 | 32.36 | 1.7 | -50.34 | 100.00 | -28.57 | -20.0 | 0.00 | 100.0 | 100.0 | 21.68 | -54.08 | -43.04 |
| 22Q2 (14) | 9.69 | -78.41 | -66.75 | -47.39 | -178.6 | -184.62 | -34.17 | -465.73 | -186.42 | -43.41 | -621.1 | -279.13 | -2.65 | -813.79 | -122.69 | -2.03 | -915.0 | -111.46 | 0.05 | 25.0 | -37.5 | -26.67 | 0 | -326.72 | 31.82 | 23.29 | -10.67 | 140.00 | -30.0 | -6.67 | -40.00 | 60.0 | 20.0 | 47.21 | -18.14 | 23.88 |
| 22Q1 (13) | 44.89 | 629.36 | 320.05 | -17.01 | 70.66 | 84.31 | -6.04 | -101.15 | 92.96 | -6.02 | -101.2 | 93.18 | -0.29 | -100.55 | 90.52 | -0.20 | -100.53 | 92.67 | 0.04 | -42.86 | 33.33 | 0.00 | -100.0 | 100.0 | 25.81 | 0.78 | 137.88 | 200.00 | 1933.33 | 66.67 | -100.00 | -190.16 | -400.0 | 57.67 | 24.85 | -33.72 |
| 21Q4 (12) | -8.48 | -175.31 | -150.15 | -57.98 | -86.55 | 17.38 | 526.20 | 2183.14 | 805.74 | 502.00 | 2054.83 | 772.29 | 52.53 | 1976.07 | 1044.78 | 37.50 | 2149.18 | 862.2 | 0.07 | 0.0 | 0.0 | 528.57 | 2919.04 | 930.56 | 25.61 | -60.7 | 106.87 | -10.91 | -108.73 | -112.27 | 110.91 | 543.64 | 898.18 | 46.19 | 21.36 | -23.97 |
| 21Q3 (11) | 11.26 | -61.36 | -56.61 | -31.08 | -86.67 | -70.49 | -25.26 | -111.74 | -137.18 | -25.68 | -124.28 | -145.51 | -2.80 | -135.29 | -104.38 | -1.83 | -90.63 | -55.08 | 0.07 | -12.5 | -36.36 | -18.75 | -200.0 | -275.0 | 65.16 | 82.93 | 411.86 | 125.00 | -16.67 | -37.5 | -25.00 | 50.0 | 50.0 | 38.06 | -0.13 | 28.28 |
| 21Q2 (10) | 29.14 | 242.84 | 291.14 | -16.65 | 84.64 | 65.75 | -11.93 | 86.1 | 65.51 | -11.45 | 87.03 | 66.18 | -1.19 | 61.11 | 59.66 | -0.96 | 64.84 | 61.9 | 0.08 | 166.67 | 0.0 | -6.25 | 89.58 | 72.92 | 35.62 | 228.29 | 124.59 | 150.00 | 25.0 | 25.0 | -50.00 | -150.0 | -25.0 | 38.11 | -56.2 | -19.46 |
| 21Q1 (9) | -20.40 | -501.77 | -507.14 | -108.39 | -54.45 | -48.32 | -85.85 | -15.14 | -41.2 | -88.25 | -18.19 | -43.03 | -3.06 | 44.96 | 40.47 | -2.73 | 44.51 | 38.79 | 0.03 | -57.14 | -57.14 | -60.00 | 5.72 | -30.01 | 10.85 | -12.36 | -29.91 | 120.00 | 35.0 | -4.0 | -20.00 | -280.0 | 20.0 | 87.01 | 43.23 | 0 |
| 20Q4 (8) | -3.39 | -113.06 | -109.32 | -70.18 | -284.97 | -1680.63 | -74.56 | -600.09 | -2131.61 | -74.67 | -613.86 | -655.77 | -5.56 | -305.84 | -182.23 | -4.92 | -316.95 | -189.41 | 0.07 | -36.36 | -58.82 | -63.64 | -1172.8 | -1118.24 | 12.38 | -2.75 | -6.99 | 88.89 | -55.56 | -11.11 | 11.11 | 122.22 | 0 | 60.75 | 104.75 | 143.39 |
| 20Q3 (7) | 25.95 | 248.32 | -14.04 | -18.23 | 62.5 | -73.78 | -10.65 | 69.21 | -144.79 | -10.46 | 69.11 | -143.89 | -1.37 | 53.56 | -132.46 | -1.18 | 53.17 | -133.43 | 0.11 | 37.5 | -26.67 | -5.00 | 78.34 | -117.5 | 12.73 | -19.74 | -32.32 | 200.00 | 66.67 | 566.67 | -50.00 | -25.0 | -135.0 | 29.67 | -37.3 | -3.73 |
| 20Q2 (6) | 7.45 | 321.73 | -66.55 | -48.61 | 33.48 | -258.75 | -34.59 | 43.11 | -1971.26 | -33.86 | 45.12 | -1834.86 | -2.95 | 42.61 | -676.32 | -2.52 | 43.5 | -663.64 | 0.08 | 14.29 | -55.56 | -23.08 | 49.99 | -906.99 | 15.86 | 2.45 | -21.02 | 120.00 | -4.0 | -76.0 | -40.00 | -60.0 | 90.0 | 47.32 | 0 | 55.45 |
| 20Q1 (5) | -3.36 | -109.24 | 81.06 | -73.08 | -1745.95 | 42.34 | -60.80 | -1756.68 | 54.71 | -61.70 | -524.49 | 52.04 | -5.14 | -160.91 | 57.42 | -4.46 | -162.35 | 55.44 | 0.07 | -58.82 | -12.5 | -46.15 | -838.4 | 63.08 | 15.48 | 16.3 | -19.04 | 125.00 | 25.0 | 31.25 | -25.00 | 0 | -625.0 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 36.38 | 20.5 | 0.0 | 4.44 | 142.33 | 0.0 | 3.67 | -84.57 | 0.0 | -9.88 | -141.46 | 0.0 | -1.97 | -146.68 | 0.0 | -1.70 | -148.16 | 0.0 | 0.17 | 13.33 | 0.0 | 6.25 | -78.12 | 0.0 | 13.31 | -29.24 | 0.0 | 100.00 | 333.33 | 0.0 | -0.00 | -100.0 | 0.0 | 24.96 | -19.01 | 0.0 |
| 19Q3 (3) | 30.19 | 35.56 | 0.0 | -10.49 | 22.58 | 0.0 | 23.78 | 1523.95 | 0.0 | 23.83 | 1461.71 | 0.0 | 4.22 | 1210.53 | 0.0 | 3.53 | 1169.7 | 0.0 | 0.15 | -16.67 | 0.0 | 28.57 | 898.95 | 0.0 | 18.81 | -6.32 | 0.0 | -42.86 | -108.57 | 0.0 | 142.86 | 135.71 | 0.0 | 30.82 | 1.25 | 0.0 |
| 19Q2 (2) | 22.27 | 225.54 | 0.0 | -13.55 | 89.31 | 0.0 | -1.67 | 98.76 | 0.0 | -1.75 | 98.64 | 0.0 | -0.38 | 96.85 | 0.0 | -0.33 | 96.7 | 0.0 | 0.18 | 125.0 | 0.0 | 2.86 | 102.29 | 0.0 | 20.08 | 5.02 | 0.0 | 500.00 | 425.0 | 0.0 | -400.00 | -8500.0 | 0.0 | 30.44 | -58.99 | 0.0 |
| 19Q1 (1) | -17.74 | 0.0 | 0.0 | -126.74 | 0.0 | 0.0 | -134.26 | 0.0 | 0.0 | -128.65 | 0.0 | 0.0 | -12.07 | 0.0 | 0.0 | -10.01 | 0.0 | 0.0 | 0.08 | 0.0 | 0.0 | -125.00 | 0.0 | 0.0 | 19.12 | 0.0 | 0.0 | 95.24 | 0.0 | 0.0 | 4.76 | 0.0 | 0.0 | 74.22 | 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) | 35.82 | 39.92 | 15.27 | 0 | 1.75 | -42.69 | 16.89 | 0 | 13.74 | 0 | 9.14 | 0 | 6.66 | 0 | 0.48 | 60.0 | 18.71 | 0 | 43.01 | 16.72 | 89.66 | -48.77 | 10.34 | 0 | 0.00 | 0 | 18.39 | -37.47 |
| 2022 (9) | 25.60 | 318.99 | -6.75 | 0 | 3.06 | -64.49 | -4.28 | 0 | -7.11 | 0 | -2.79 | 0 | -1.99 | 0 | 0.30 | 25.0 | -1.02 | 0 | 36.85 | 43.89 | 175.00 | 0 | -50.00 | 0 | 0.00 | 0 | 29.41 | -35.38 |
| 2021 (8) | 6.11 | -32.93 | -43.96 | 0 | 8.62 | -16.67 | 169.96 | 0 | 161.09 | 0 | 45.87 | 0 | 38.14 | 0 | 0.24 | -25.0 | 179.31 | 0 | 25.61 | 106.87 | -26.26 | 0 | 126.26 | 0 | 0.00 | 0 | 45.51 | -1.37 |
| 2020 (7) | 9.11 | -59.8 | -48.18 | 0 | 10.34 | 189.66 | -40.41 | 0 | -40.40 | 0 | -14.47 | 0 | -12.72 | 0 | 0.32 | -41.82 | -29.31 | 0 | 12.38 | -6.99 | 121.74 | -36.88 | -17.39 | 0 | 0.00 | 0 | 46.14 | 31.01 |
| 2019 (6) | 22.66 | 7.8 | -23.76 | 0 | 3.57 | 52.14 | -12.64 | 0 | -15.78 | 0 | -10.28 | 0 | -8.74 | 0 | 0.55 | -33.73 | -8.93 | 0 | 13.31 | -38.38 | 192.86 | 79.56 | -85.71 | 0 | 0.00 | 0 | 35.22 | 10.1 |
| 2018 (5) | 21.02 | -16.62 | -13.79 | 0 | 2.35 | 26.29 | -12.73 | 0 | -12.81 | 0 | -14.07 | 0 | -10.55 | 0 | 0.83 | -4.6 | -10.33 | 0 | 21.60 | -49.64 | 107.41 | 18.15 | -7.41 | 0 | 0.46 | 0 | 31.99 | 9.78 |
| 2017 (4) | 25.21 | 1.49 | -7.46 | 0 | 1.86 | -3.35 | -8.10 | 0 | -8.12 | 0 | -9.96 | 0 | -7.10 | 0 | 0.87 | 8.75 | -6.32 | 0 | 42.89 | 12.66 | 90.91 | -52.98 | 9.09 | 0 | 0.00 | 0 | 29.14 | -6.93 |
| 2016 (3) | 24.84 | 19.31 | -11.12 | 0 | 1.92 | 13.46 | -5.94 | 0 | -5.97 | 0 | -6.36 | 0 | -4.79 | 0 | 0.80 | 0.0 | -3.85 | 0 | 38.07 | 36.4 | 193.33 | 57.08 | -86.67 | 0 | 0.00 | 0 | 31.31 | -5.24 |
| 2015 (2) | 20.82 | -22.34 | -16.38 | 0 | 1.69 | -3.95 | -13.35 | 0 | -13.17 | 0 | -13.88 | 0 | -10.58 | 0 | 0.80 | -5.88 | -11.53 | 0 | 27.91 | -17.82 | 123.08 | 0 | -23.08 | 0 | 0.00 | 0 | 33.04 | 30.8 |
| 2014 (1) | 26.81 | 0 | -2.14 | 0 | 1.76 | -15.96 | 1.70 | 0 | 1.48 | 0 | 1.70 | 0 | 1.26 | 0 | 0.85 | -6.59 | 3.53 | 0 | 33.96 | -8.54 | -116.67 | 0 | 216.67 | 9000.0 | 0.00 | 0 | 25.26 | 7.81 |
