- 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) | 6.54 | 2.35 | 17.41 | -0.34 | 55.84 | 83.96 | -10.33 | -303.75 | -20.68 | -8.85 | -289.91 | -14.49 | -4.08 | -253.96 | -14.61 | -2.01 | -238.62 | -10.44 | 0.24 | -17.24 | -4.0 | -8.97 | -243.52 | -21.05 | 88.16 | -5.46 | 9.28 | 4.17 | 131.25 | -82.5 | 95.83 | -15.44 | 25.78 | 4.16 | -5.24 | 4.79 |
| 23Q3 (19) | 6.39 | -5.47 | -15.92 | -0.77 | -164.17 | -237.5 | 5.07 | 26.75 | -55.21 | 4.66 | 17.97 | -58.87 | 2.65 | -5.36 | -52.17 | 1.45 | -5.84 | -50.85 | 0.29 | -19.44 | 16.0 | 6.25 | 27.55 | -50.0 | 93.25 | -11.46 | 9.8 | -13.33 | -146.67 | -486.67 | 113.33 | 58.67 | 17.38 | 4.39 | 29.5 | -23.12 |
| 23Q2 (18) | 6.76 | 5.3 | -34.31 | 1.20 | 124.49 | -66.94 | 4.00 | 152.56 | -40.56 | 3.95 | 154.94 | -40.33 | 2.80 | 207.69 | -43.89 | 1.54 | 220.31 | -40.54 | 0.36 | 80.0 | -2.7 | 4.90 | 180.59 | -35.78 | 105.32 | 19.05 | -0.59 | 28.57 | -55.56 | -46.94 | 71.43 | 100.0 | 54.76 | 3.39 | -57.62 | -12.4 |
| 23Q1 (17) | 6.42 | 15.26 | -15.64 | -4.90 | -131.13 | -511.76 | -7.61 | 11.1 | -267.99 | -7.19 | 6.99 | -258.37 | -2.60 | 26.97 | -176.92 | -1.28 | 29.67 | -167.02 | 0.20 | -20.0 | -48.72 | -6.08 | 17.95 | -212.38 | 88.47 | 9.67 | -8.6 | 64.29 | 170.0 | 157.14 | 35.71 | -53.12 | -52.38 | 8.00 | 101.51 | 86.92 |
| 22Q4 (16) | 5.57 | -26.71 | -18.21 | -2.12 | -478.57 | -213.98 | -8.56 | -175.62 | -597.67 | -7.73 | -168.23 | -549.42 | -3.56 | -164.26 | -331.17 | -1.82 | -161.69 | -309.2 | 0.25 | 0.0 | -48.98 | -7.41 | -159.28 | -425.0 | 80.67 | -5.02 | -0.4 | 23.81 | 590.48 | -76.19 | 76.19 | -21.09 | 633.33 | 3.97 | -30.47 | 1.79 |
| 22Q3 (15) | 7.60 | -26.14 | -4.28 | 0.56 | -84.57 | -81.08 | 11.32 | 68.2 | 333.72 | 11.33 | 71.15 | 356.85 | 5.54 | 11.02 | 154.13 | 2.95 | 13.9 | 150.0 | 0.25 | -32.43 | -45.65 | 12.50 | 63.83 | 316.67 | 84.93 | -19.84 | -1.59 | 3.45 | -93.6 | -97.13 | 96.55 | 109.2 | 1065.52 | 5.71 | 47.55 | 68.44 |
| 22Q2 (14) | 10.29 | 35.22 | 30.75 | 3.63 | 205.04 | 30.58 | 6.73 | 48.57 | 935.38 | 6.62 | 45.81 | 918.46 | 4.99 | 47.63 | 841.51 | 2.59 | 35.6 | 709.38 | 0.37 | -5.13 | -19.57 | 7.63 | 41.04 | 633.65 | 105.95 | 9.46 | 16.1 | 53.85 | 115.38 | -85.31 | 46.15 | -38.46 | 117.31 | 3.87 | -9.58 | 34.38 |
| 22Q1 (13) | 7.61 | 11.75 | -11.72 | 1.19 | -36.02 | -51.43 | 4.53 | 163.37 | 11.03 | 4.54 | 163.95 | 11.27 | 3.38 | 119.48 | 26.12 | 1.91 | 119.54 | 20.89 | 0.39 | -20.41 | 2.63 | 5.41 | 137.28 | 18.64 | 96.79 | 19.51 | 51.4 | 25.00 | -75.0 | -59.38 | 75.00 | 625.0 | 95.0 | 4.28 | 9.74 | 9.18 |
| 21Q4 (12) | 6.81 | -14.23 | -16.44 | 1.86 | -37.16 | -31.37 | 1.72 | -34.1 | -84.36 | 1.72 | -30.65 | -84.36 | 1.54 | -29.36 | -84.35 | 0.87 | -26.27 | -81.17 | 0.49 | 6.52 | 19.51 | 2.28 | -24.0 | -80.24 | 80.99 | -6.15 | -0.17 | 100.00 | -16.67 | 290.91 | -14.29 | -42.86 | -119.2 | 3.90 | 15.04 | 3.72 |
| 21Q3 (11) | 7.94 | 0.89 | 7.73 | 2.96 | 6.47 | 12.55 | 2.61 | 301.54 | 77.55 | 2.48 | 281.54 | 68.71 | 2.18 | 311.32 | 65.15 | 1.18 | 268.75 | 78.79 | 0.46 | 0.0 | 24.32 | 3.00 | 188.46 | 40.85 | 86.30 | -5.44 | -45.71 | 120.00 | -67.27 | -28.0 | -10.00 | 96.25 | 85.0 | 3.39 | 17.71 | 26.97 |
| 21Q2 (10) | 7.87 | -8.7 | -7.95 | 2.78 | 13.47 | 180.35 | 0.65 | -84.07 | 109.19 | 0.65 | -84.07 | 109.19 | 0.53 | -80.22 | 113.55 | 0.32 | -79.75 | 118.82 | 0.46 | 21.05 | 76.92 | 1.04 | -77.19 | 117.69 | 91.26 | 42.75 | -27.23 | 366.67 | 495.83 | 679.17 | -266.67 | -793.33 | -603.7 | 2.88 | -26.53 | 0 |
| 21Q1 (9) | 8.62 | 5.77 | -5.07 | 2.45 | -9.59 | 289.92 | 4.08 | -62.91 | 543.48 | 4.08 | -62.91 | 543.48 | 2.68 | -72.76 | 912.12 | 1.58 | -65.8 | 5366.67 | 0.38 | -7.32 | 123.53 | 4.56 | -60.49 | 647.54 | 63.93 | -21.2 | -39.24 | 61.54 | 140.56 | -38.46 | 38.46 | -48.32 | 176.92 | 3.92 | 4.26 | 0 |
| 20Q4 (8) | 8.15 | 10.58 | 40.28 | 2.71 | 3.04 | 504.48 | 11.00 | 648.3 | 307.94 | 11.00 | 648.3 | 307.94 | 9.84 | 645.45 | 471.32 | 4.62 | 600.0 | 494.87 | 0.41 | 10.81 | 70.83 | 11.54 | 441.78 | 379.42 | 81.13 | -48.96 | -24.71 | 25.58 | -84.65 | 66.28 | 74.42 | 211.63 | -12.05 | 3.76 | 40.82 | 0.53 |
| 20Q3 (7) | 7.37 | -13.8 | 18.3 | 2.63 | 176.01 | 517.46 | 1.47 | 120.79 | 183.52 | 1.47 | 120.79 | 183.52 | 1.32 | 133.76 | 246.67 | 0.66 | 138.82 | 306.25 | 0.37 | 42.31 | 48.0 | 2.13 | 136.22 | 366.25 | 158.95 | 26.74 | 49.45 | 166.67 | 254.17 | 233.33 | -66.67 | -225.93 | -188.89 | 2.67 | 0 | -25.21 |
| 20Q2 (6) | 8.55 | -5.84 | -1.16 | -3.46 | -168.22 | -345.39 | -7.07 | -668.48 | -994.94 | -7.07 | -668.48 | -994.94 | -3.91 | -1084.85 | -1030.95 | -1.70 | -5566.67 | -615.15 | 0.26 | 52.94 | -3.7 | -5.88 | -1063.93 | -406.25 | 125.41 | 19.2 | 21.29 | 47.06 | -52.94 | -76.47 | 52.94 | 205.88 | 152.94 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 9.08 | 56.28 | 16.71 | -1.29 | -92.54 | 17.31 | -0.92 | 82.61 | 51.83 | -0.92 | 82.61 | 51.83 | -0.33 | 87.55 | 54.79 | -0.03 | 97.44 | 88.46 | 0.17 | -29.17 | -15.0 | 0.61 | 114.77 | 215.09 | 105.21 | -2.37 | 21.35 | 100.00 | 550.0 | 33.33 | -50.00 | -159.09 | -300.0 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 5.81 | -6.74 | 0.0 | -0.67 | -6.35 | 0.0 | -5.29 | -200.57 | 0.0 | -5.29 | -200.57 | 0.0 | -2.65 | -194.44 | 0.0 | -1.17 | -265.62 | 0.0 | 0.24 | -4.0 | 0.0 | -4.13 | -416.25 | 0.0 | 107.76 | 1.32 | 0.0 | 15.38 | -69.23 | 0.0 | 84.62 | 12.82 | 0.0 | 3.74 | 4.76 | 0.0 |
| 19Q3 (3) | 6.23 | -27.98 | 0.0 | -0.63 | -144.68 | 0.0 | -1.76 | -322.78 | 0.0 | -1.76 | -322.78 | 0.0 | -0.90 | -314.29 | 0.0 | -0.32 | -196.97 | 0.0 | 0.25 | -7.41 | 0.0 | -0.80 | -141.67 | 0.0 | 106.36 | 2.86 | 0.0 | 50.00 | -75.0 | 0.0 | 75.00 | 175.0 | 0.0 | 3.57 | -17.55 | 0.0 |
| 19Q2 (2) | 8.65 | 11.18 | 0.0 | 1.41 | 190.38 | 0.0 | 0.79 | 141.36 | 0.0 | 0.79 | 141.36 | 0.0 | 0.42 | 157.53 | 0.0 | 0.33 | 226.92 | 0.0 | 0.27 | 35.0 | 0.0 | 1.92 | 462.26 | 0.0 | 103.40 | 19.26 | 0.0 | 200.00 | 166.67 | 0.0 | -100.00 | -500.0 | 0.0 | 4.33 | -21.7 | 0.0 |
| 19Q1 (1) | 7.78 | 0.0 | 0.0 | -1.56 | 0.0 | 0.0 | -1.91 | 0.0 | 0.0 | -1.91 | 0.0 | 0.0 | -0.73 | 0.0 | 0.0 | -0.26 | 0.0 | 0.0 | 0.20 | 0.0 | 0.0 | -0.53 | 0.0 | 0.0 | 86.70 | 0.0 | 0.0 | 75.00 | 0.0 | 0.0 | 25.00 | 0.0 | 0.0 | 5.53 | 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) | 6.55 | -18.43 | -0.74 | 0 | 0.48 | 17.14 | -0.90 | 0 | -0.63 | 0 | -1.30 | 0 | -0.19 | 0 | 1.13 | -20.42 | 0.29 | -94.25 | 88.16 | 9.28 | 88.89 | 217.46 | 22.22 | -68.25 | 0.21 | -50.11 | 4.63 | 5.47 |
| 2022 (9) | 8.03 | 3.48 | 1.16 | -53.97 | 0.41 | 20.81 | 4.04 | 86.18 | 4.17 | 94.86 | 10.73 | 52.2 | 6.46 | 61.5 | 1.42 | -21.98 | 5.04 | 87.36 | 80.67 | -0.4 | 28.00 | -75.78 | 70.00 | 0 | 0.43 | -31.66 | 4.39 | 25.43 |
| 2021 (8) | 7.76 | -4.32 | 2.52 | 189.66 | 0.34 | -21.53 | 2.17 | -15.89 | 2.14 | -17.05 | 7.05 | 9.98 | 4.00 | 6.1 | 1.82 | 42.19 | 2.69 | -23.58 | 80.99 | -0.17 | 115.62 | 246.88 | -15.62 | 0 | 0.63 | 74.4 | 3.50 | -9.79 |
| 2020 (7) | 8.11 | 14.06 | 0.87 | 0 | 0.43 | -19.13 | 2.58 | 0 | 2.58 | 0 | 6.41 | 0 | 3.77 | 0 | 1.28 | 31.96 | 3.52 | 0 | 81.13 | -24.71 | 33.33 | 216.67 | 66.67 | -20.83 | 0.36 | -10.97 | 3.88 | -8.06 |
| 2019 (6) | 7.11 | -0.28 | -0.26 | 0 | 0.53 | 120.31 | -1.99 | 0 | -1.99 | 0 | -3.88 | 0 | -1.45 | 0 | 0.97 | 11.49 | -0.74 | 0 | 107.76 | 15.07 | 10.53 | -86.23 | 84.21 | 257.89 | 0.40 | -23.23 | 4.22 | -18.53 |
| 2018 (5) | 7.13 | 18.24 | -1.57 | 0 | 0.24 | -76.41 | -2.10 | 0 | -2.11 | 0 | -3.53 | 0 | -1.36 | 0 | 0.87 | -13.86 | -1.08 | 0 | 93.65 | 3.17 | 76.47 | 60.11 | 23.53 | -54.96 | 0.53 | 0 | 5.18 | -15.5 |
| 2017 (4) | 6.03 | -16.13 | -3.26 | 0 | 1.02 | -43.0 | -6.86 | 0 | -6.86 | 0 | -12.95 | 0 | -6.32 | 0 | 1.01 | 16.09 | -5.00 | 0 | 90.77 | 7.71 | 47.76 | -37.23 | 52.24 | 100.25 | 0.00 | 0 | 6.13 | -32.41 |
| 2016 (3) | 7.19 | -13.37 | -4.42 | 0 | 1.79 | -6.67 | -5.92 | 0 | -5.72 | 0 | -8.05 | 0 | -4.50 | 0 | 0.87 | -9.37 | -3.20 | 0 | 84.27 | 104.59 | 76.09 | -60.43 | 26.09 | 0 | 0.00 | 0 | 9.07 | -0.98 |
| 2015 (2) | 8.30 | -20.73 | -3.14 | 0 | 1.92 | 68.8 | -1.67 | 0 | -3.57 | 0 | -4.86 | 0 | -3.18 | 0 | 0.96 | -5.88 | 0.64 | -98.31 | 41.19 | -4.36 | 192.31 | 0 | -92.31 | 0 | 0.00 | 0 | 9.16 | -1.08 |
| 2014 (1) | 10.47 | 0 | -0.75 | 0 | 1.14 | -22.31 | 35.78 | 0 | 35.64 | 0 | 80.47 | 0 | 36.86 | 0 | 1.02 | 18.6 | 37.84 | 2745.11 | 43.07 | -87.57 | -2.22 | 0 | 102.22 | 820.0 | 0.00 | 0 | 9.26 | 27.37 |
