- 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) | 12.03 | 71.86 | 6.74 | 3.65 | 135.89 | 178.83 | 3.10 | -69.18 | 219.69 | 3.09 | -68.05 | 229.29 | 1.29 | -57.0 | 221.7 | 0.80 | -47.71 | 715.38 | 0.17 | 30.77 | -5.56 | 10.92 | -46.13 | 435.29 | 150.32 | 3.36 | 8.94 | 117.65 | 216.21 | -34.34 | -17.65 | -108.77 | 77.71 | 12.43 | -36.9 | -37.06 |
| 23Q3 (19) | 7.00 | -38.16 | -29.72 | -10.17 | -236.75 | 32.38 | 10.06 | 147.17 | 161.38 | 9.67 | 165.66 | 158.86 | 3.00 | 152.1 | 150.25 | 1.53 | 98.7 | 171.83 | 0.13 | -7.14 | -13.33 | 20.27 | 36.59 | 275.95 | 145.43 | 11.53 | -16.06 | -101.23 | -37.68 | -209.85 | 201.23 | 15.97 | 2465.74 | 19.70 | -1.5 | 13.81 |
| 23Q2 (18) | 11.32 | -13.26 | -7.82 | -3.02 | -145.53 | 59.84 | 4.07 | 547.25 | 142.98 | 3.64 | 411.11 | 136.36 | 1.19 | 397.5 | 140.07 | 0.77 | 1183.33 | 160.16 | 0.14 | 0.0 | -6.67 | 14.84 | 143.28 | 369.82 | 130.40 | -10.54 | 12.05 | -73.53 | -153.48 | -191.91 | 173.53 | 562.75 | 767.65 | 20.00 | 17.72 | 57.11 |
| 23Q1 (17) | 13.05 | 15.79 | -12.06 | -1.23 | 73.43 | 85.09 | -0.91 | 64.86 | 91.53 | -1.17 | 51.05 | 87.79 | -0.40 | 62.26 | 78.26 | 0.06 | 146.15 | 106.98 | 0.14 | -22.22 | 27.27 | 6.10 | 199.02 | 192.85 | 145.77 | 5.64 | 76.76 | 137.50 | -23.26 | 80.17 | -37.50 | 52.63 | -258.33 | 16.99 | -13.97 | 11.12 |
| 22Q4 (16) | 11.27 | 13.15 | -23.75 | -4.63 | 69.22 | -179.28 | -2.59 | 84.2 | -119.55 | -2.39 | 85.45 | -124.97 | -1.06 | 82.24 | -149.77 | -0.13 | 93.9 | -109.22 | 0.18 | 20.0 | 38.46 | 2.04 | 117.71 | -88.23 | 137.99 | -20.36 | 82.26 | 179.17 | 94.41 | 295.66 | -79.17 | -1109.38 | -239.86 | 19.75 | 14.1 | 75.4 |
| 22Q3 (15) | 9.96 | -18.89 | -39.6 | -15.04 | -100.0 | -979.53 | -16.39 | -73.07 | -23314.29 | -16.43 | -64.14 | -1280.67 | -5.97 | -101.01 | -1765.62 | -2.13 | -66.41 | -3142.86 | 0.15 | 0.0 | 15.38 | -11.52 | -109.45 | -310.22 | 173.26 | 48.87 | 146.0 | 92.16 | 15.2 | 0 | 7.84 | -60.78 | 0 | 17.31 | 35.98 | 45.83 |
| 22Q2 (14) | 12.28 | -17.25 | -23.63 | -7.52 | 8.85 | -212.07 | -9.47 | 11.82 | -232.08 | -10.01 | -4.49 | -249.85 | -2.97 | -61.41 | -161.11 | -1.28 | -48.84 | -169.95 | 0.15 | 36.36 | -34.78 | -5.50 | 16.29 | -147.5 | 116.38 | 41.12 | -48.09 | 80.00 | 4.83 | -16.67 | 20.00 | -15.56 | 150.0 | 12.73 | -16.74 | 80.57 |
| 22Q1 (13) | 14.84 | 0.41 | -17.19 | -8.25 | -241.27 | -195.27 | -10.74 | -181.06 | -223.88 | -9.58 | -200.1 | -212.84 | -1.84 | -186.38 | -136.08 | -0.86 | -160.99 | -144.56 | 0.11 | -15.38 | -45.0 | -6.57 | -137.91 | -146.83 | 82.47 | 8.93 | -58.88 | 76.32 | 68.53 | -23.68 | 23.68 | -58.16 | 0 | 15.29 | 35.79 | 34.36 |
| 21Q4 (12) | 14.78 | -10.37 | -27.37 | 5.84 | 241.52 | -43.95 | 13.25 | 19028.57 | 2.55 | 9.57 | 904.2 | -14.17 | 2.13 | 765.62 | -75.57 | 1.41 | 1914.29 | -55.66 | 0.13 | 0.0 | -51.85 | 17.33 | 216.24 | 2.79 | 75.71 | 7.5 | -61.5 | 45.28 | 0 | -43.07 | 56.60 | 0 | 211.32 | 11.26 | -5.14 | 126.56 |
| 21Q3 (11) | 16.49 | 2.55 | 25.11 | 1.71 | -74.52 | 294.32 | -0.07 | -100.98 | 95.36 | -1.19 | -117.81 | 33.15 | -0.32 | -106.58 | 62.35 | 0.07 | -96.17 | 216.67 | 0.13 | -43.48 | -31.58 | 5.48 | -52.68 | -16.59 | 70.43 | -68.59 | -59.31 | 0.00 | -100.0 | -100.0 | 0.00 | -100.0 | -100.0 | 11.87 | 68.37 | -22.32 |
| 21Q2 (10) | 16.08 | -10.27 | 296.06 | 6.71 | -22.52 | 159.86 | 7.17 | -17.3 | 150.92 | 6.68 | -21.32 | 147.14 | 4.86 | -4.71 | 198.58 | 1.83 | -5.18 | 202.23 | 0.23 | 15.0 | 64.29 | 11.58 | -17.46 | 159.11 | 224.21 | 11.8 | 64.04 | 96.00 | -4.0 | 18.59 | 8.00 | 0 | -58.0 | 7.05 | -38.05 | 0 |
| 21Q1 (9) | 17.92 | -11.94 | 90.64 | 8.66 | -16.89 | 776.56 | 8.67 | -32.89 | 604.07 | 8.49 | -23.86 | 585.14 | 5.10 | -41.51 | 771.05 | 1.93 | -39.31 | 2512.5 | 0.20 | -25.93 | 11.11 | 14.03 | -16.79 | 142.31 | 200.54 | 1.98 | 38.3 | 100.00 | 25.71 | 50.0 | 0.00 | -100.0 | -100.0 | 11.38 | 128.97 | 0 |
| 20Q4 (8) | 20.35 | 54.4 | 85.84 | 10.42 | 1284.09 | 1220.43 | 12.92 | 955.63 | 221.2 | 11.15 | 726.4 | 204.21 | 8.72 | 1125.88 | 263.3 | 3.18 | 5400.0 | 248.6 | 0.27 | 42.11 | 22.73 | 16.86 | 156.62 | 647.4 | 196.65 | 13.6 | 46.33 | 79.55 | 19.32 | 854.55 | 18.18 | -45.45 | -80.17 | 4.97 | -67.47 | -71.52 |
| 20Q3 (7) | 13.18 | 224.63 | 135.78 | -0.88 | 92.15 | 82.4 | -1.51 | 89.28 | 81.47 | -1.78 | 87.44 | 78.02 | -0.85 | 82.76 | 78.43 | -0.06 | 96.65 | 96.49 | 0.19 | 35.71 | -20.83 | 6.57 | 133.54 | 609.3 | 173.11 | 26.65 | 53.53 | 66.67 | -17.65 | 5.56 | 33.33 | 75.0 | -9.52 | 15.28 | 0 | 4.95 |
| 20Q2 (6) | 4.06 | -56.81 | -32.78 | -11.21 | -775.78 | -21.19 | -14.08 | -718.6 | -34.61 | -14.17 | -709.71 | -35.47 | -4.93 | -548.68 | -30.77 | -1.79 | -2137.5 | -4.68 | 0.14 | -22.22 | -26.32 | -19.59 | -438.34 | -1080.12 | 136.68 | -5.74 | 51.23 | 80.95 | 21.43 | -9.52 | 19.05 | -42.86 | 80.95 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 9.40 | -14.16 | 118.6 | -1.28 | -37.63 | 81.56 | -1.72 | 83.86 | 79.2 | -1.75 | 83.64 | 78.84 | -0.76 | 85.77 | 75.56 | -0.08 | 96.26 | 94.84 | 0.18 | -18.18 | -18.18 | 5.79 | 287.99 | 0 | 145.00 | 7.89 | 58.45 | 66.67 | 700.0 | -23.81 | 33.33 | -63.64 | 77.78 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 10.95 | 95.89 | 0.0 | -0.93 | 81.4 | 0.0 | -10.66 | -30.8 | 0.0 | -10.70 | -32.1 | 0.0 | -5.34 | -35.53 | 0.0 | -2.14 | -25.15 | 0.0 | 0.22 | -8.33 | 0.0 | -3.08 | -138.76 | 0.0 | 134.39 | 19.19 | 0.0 | 8.33 | -86.81 | 0.0 | 91.67 | 148.81 | 0.0 | 17.45 | 19.85 | 0.0 |
| 19Q3 (3) | 5.59 | -7.45 | 0.0 | -5.00 | 45.95 | 0.0 | -8.15 | 22.08 | 0.0 | -8.10 | 22.56 | 0.0 | -3.94 | -4.51 | 0.0 | -1.71 | 0.0 | 0.0 | 0.24 | 26.32 | 0.0 | -1.29 | 22.29 | 0.0 | 112.75 | 24.75 | 0.0 | 63.16 | -29.41 | 0.0 | 36.84 | 250.0 | 0.0 | 14.56 | -33.52 | 0.0 |
| 19Q2 (2) | 6.04 | 40.47 | 0.0 | -9.25 | -33.29 | 0.0 | -10.46 | -26.48 | 0.0 | -10.46 | -26.48 | 0.0 | -3.77 | -21.22 | 0.0 | -1.71 | -10.32 | 0.0 | 0.19 | -13.64 | 0.0 | -1.66 | 0 | 0.0 | 90.38 | -1.23 | 0.0 | 89.47 | 2.26 | 0.0 | 10.53 | -43.86 | 0.0 | 21.90 | 26.59 | 0.0 |
| 19Q1 (1) | 4.30 | 0.0 | 0.0 | -6.94 | 0.0 | 0.0 | -8.27 | 0.0 | 0.0 | -8.27 | 0.0 | 0.0 | -3.11 | 0.0 | 0.0 | -1.55 | 0.0 | 0.0 | 0.22 | 0.0 | 0.0 | 0.00 | 0.0 | 0.0 | 91.51 | 0.0 | 0.0 | 87.50 | 0.0 | 0.0 | 18.75 | 0.0 | 0.0 | 17.30 | 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) | 10.98 | -5.83 | -2.14 | 0 | 6.48 | 186.75 | 3.93 | 0 | 3.68 | 0 | 5.10 | 0 | 3.12 | 0 | 0.57 | 7.55 | 12.77 | 0 | 150.32 | 8.94 | -54.61 | 0 | 154.61 | 4035.82 | 0.10 | -48.31 | 16.88 | -0.47 |
| 2022 (9) | 11.66 | -27.85 | -8.45 | 0 | 2.26 | -25.81 | -8.80 | 0 | -8.68 | 0 | -9.78 | 0 | -3.71 | 0 | 0.53 | -10.17 | -4.32 | 0 | 137.99 | 82.26 | 96.26 | 28.77 | 3.74 | -85.19 | 0.20 | -7.79 | 16.96 | 64.34 |
| 2021 (8) | 16.16 | 18.91 | 5.70 | 243.37 | 3.05 | -42.08 | 7.64 | 302.11 | 6.11 | 440.71 | 7.23 | 227.15 | 4.42 | 171.17 | 0.59 | -20.27 | 12.42 | 44.76 | 75.71 | -61.5 | 74.76 | -9.22 | 25.24 | 114.56 | 0.22 | -63.36 | 10.32 | -8.35 |
| 2020 (7) | 13.59 | 98.68 | 1.66 | 0 | 5.26 | -16.98 | 1.90 | 0 | 1.13 | 0 | 2.21 | 0 | 1.63 | 0 | 0.74 | -20.43 | 8.58 | 0 | 196.65 | 46.33 | 82.35 | 45.99 | 11.76 | -73.01 | 0.60 | 0 | 11.26 | -35.95 |
| 2019 (6) | 6.84 | -16.89 | -5.27 | 0 | 6.34 | 46.04 | -9.36 | 0 | -9.36 | 0 | -16.20 | 0 | -7.58 | 0 | 0.93 | 14.81 | -1.44 | 0 | 134.39 | 193.75 | 56.41 | -42.71 | 43.59 | 2733.33 | 0.00 | 0 | 17.58 | -15.72 |
| 2018 (5) | 8.23 | -34.37 | -9.93 | 0 | 4.34 | -47.64 | -10.07 | 0 | -9.79 | 0 | -11.49 | 0 | -7.68 | 0 | 0.81 | 17.39 | -4.96 | 0 | 45.75 | 2.81 | 98.46 | 388.79 | 1.54 | -98.07 | 0.00 | 0 | 20.86 | -11.91 |
| 2017 (4) | 12.54 | 0 | -4.90 | 0 | 8.29 | -3.63 | -24.00 | 0 | -24.41 | 0 | -31.32 | 0 | -15.83 | 0 | 0.69 | 2.99 | -13.82 | 0 | 44.50 | -72.5 | 20.14 | -72.12 | 79.86 | 187.81 | 0.00 | 0 | 23.68 | -8.0 |
| 2016 (3) | -0.76 | 0 | -19.24 | 0 | 8.60 | 11.55 | -26.58 | 0 | -28.63 | 0 | -43.09 | 0 | -18.36 | 0 | 0.67 | -5.63 | -16.28 | 0 | 161.82 | 60.31 | 72.25 | 0 | 27.75 | -76.64 | 0.00 | 0 | 25.74 | 4.42 |
| 2015 (2) | 17.91 | 19.08 | 0.37 | 0 | 7.71 | 5.22 | -2.00 | 0 | -1.07 | 0 | -1.55 | 0 | 0.10 | 0 | 0.71 | 0.0 | 7.21 | 16.1 | 100.94 | -5.32 | -18.75 | 0 | 118.75 | 0 | 0.00 | 0 | 24.65 | -2.53 |
| 2014 (1) | 15.04 | 0 | -2.54 | 0 | 7.33 | 7.77 | -2.55 | 0 | -2.57 | 0 | -3.70 | 0 | -1.02 | 0 | 0.71 | 0.0 | 6.21 | 0 | 106.61 | 6.47 | 95.24 | -13.73 | -0.00 | 0 | 0.00 | 0 | 25.29 | 3.69 |
