- 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) | 16.20 | -5.48 | 1.57 | 2.61 | -34.59 | -42.89 | 3.80 | -17.93 | -33.8 | 2.03 | 123.08 | 182.19 | 1.07 | 87.72 | 181.68 | 0.56 | 51.35 | 227.27 | 0.22 | -21.43 | 0.0 | 9.33 | -1.48 | -19.36 | 154.38 | 27.4 | 19.51 | 67.44 | -20.89 | -15.39 | 30.23 | 130.52 | 49.0 | 41.05 | 0.56 | 0.22 |
| 23Q3 (19) | 17.14 | 34.12 | 16.2 | 3.99 | 205.56 | -19.88 | 4.63 | 260.76 | -30.38 | 0.91 | 112.91 | -73.78 | 0.57 | 119.59 | -75.95 | 0.37 | 130.58 | -65.74 | 0.28 | 47.37 | 0.0 | 9.47 | 111.38 | -16.78 | 121.18 | -1.35 | -15.29 | 85.25 | -35.42 | 14.03 | 13.11 | 140.98 | -48.05 | 40.82 | -15.03 | -1.33 |
| 23Q2 (18) | 12.78 | 167.92 | 322.26 | -3.78 | 66.99 | 83.1 | -2.88 | 72.04 | 85.47 | -7.05 | 44.96 | 58.31 | -2.91 | 39.63 | 52.06 | -1.21 | 41.55 | 51.01 | 0.19 | 11.76 | 26.67 | 4.48 | 306.45 | 138.99 | 122.84 | 9.58 | -15.58 | 132.00 | 19.49 | 16.63 | -32.00 | -175.2 | -142.91 | 48.04 | -3.67 | -17.47 |
| 23Q1 (17) | 4.77 | -70.09 | -46.88 | -11.45 | -350.55 | -397.83 | -10.30 | -279.44 | -543.75 | -12.81 | -418.62 | -269.16 | -4.82 | -267.94 | -173.86 | -2.07 | -370.45 | -213.64 | 0.17 | -22.73 | -19.05 | -2.17 | -118.76 | -159.62 | 112.10 | -13.22 | -13.38 | 110.47 | 38.58 | -21.1 | -11.63 | -157.31 | 74.16 | 49.87 | 21.75 | 14.93 |
| 22Q4 (16) | 15.95 | 8.14 | 39.55 | 4.57 | -8.23 | 189.24 | 5.74 | -13.68 | 122.48 | -2.47 | -171.18 | -292.97 | -1.31 | -155.27 | -267.95 | -0.44 | -140.74 | -210.0 | 0.22 | -21.43 | -12.0 | 11.57 | 1.67 | 64.58 | 129.18 | -9.7 | -9.87 | 79.71 | 6.63 | 28.23 | 20.29 | -19.62 | -46.38 | 40.96 | -0.99 | 2.35 |
| 22Q3 (15) | 14.75 | 356.52 | 49.14 | 4.98 | 122.26 | 396.43 | 6.65 | 133.55 | 407.87 | 3.47 | 120.52 | 233.46 | 2.37 | 139.04 | 263.45 | 1.08 | 143.72 | 303.77 | 0.28 | 86.67 | 21.74 | 11.38 | 199.04 | 310.83 | 143.06 | -1.68 | -1.08 | 74.76 | -33.94 | -1.46 | 25.24 | 291.62 | 22.01 | 41.37 | -28.93 | -0.31 |
| 22Q2 (14) | -5.75 | -164.03 | -147.33 | -22.37 | -872.61 | -18741.67 | -19.82 | -1138.75 | -965.5 | -16.91 | -387.32 | -1219.87 | -6.07 | -244.89 | -909.33 | -2.47 | -274.24 | -717.5 | 0.15 | -28.57 | -31.82 | -11.49 | -415.66 | -250.0 | 145.51 | 12.44 | 11.07 | 113.17 | -19.16 | 3068.86 | -13.17 | 70.73 | -113.66 | 58.21 | 34.16 | 40.88 |
| 22Q1 (13) | 8.98 | -21.43 | -34.5 | -2.30 | -245.57 | -169.91 | -1.60 | -162.02 | -151.95 | -3.47 | -371.09 | -310.3 | -1.76 | -325.64 | -300.0 | -0.66 | -265.0 | -246.67 | 0.21 | -16.0 | -4.55 | 3.64 | -48.22 | -55.93 | 129.41 | -9.71 | -0.19 | 140.00 | 125.22 | 30.23 | -45.00 | -218.93 | -500.0 | 43.39 | 8.42 | 11.95 |
| 21Q4 (12) | 11.43 | 15.57 | -37.68 | 1.58 | 194.05 | -79.05 | 2.58 | 219.44 | -60.91 | 1.28 | 149.23 | -75.98 | 0.78 | 153.79 | -79.79 | 0.40 | 175.47 | -75.31 | 0.25 | 8.7 | -13.79 | 7.03 | 153.79 | -33.68 | 143.32 | -0.9 | -1.27 | 62.16 | -18.06 | -45.55 | 37.84 | 82.88 | 367.23 | 40.02 | -3.57 | 10.8 |
| 21Q3 (11) | 9.89 | -18.6 | -53.33 | -1.68 | -1500.0 | -115.03 | -2.16 | -194.32 | -121.93 | -2.60 | -272.19 | -137.63 | -1.45 | -293.33 | -127.83 | -0.53 | -232.5 | -124.88 | 0.23 | 4.55 | -23.33 | 2.77 | -63.84 | -79.99 | 144.62 | 10.39 | -7.18 | 75.86 | 2024.14 | -33.26 | 20.69 | -78.54 | 251.41 | 41.50 | 0.44 | 23.77 |
| 21Q2 (10) | 12.15 | -11.38 | -35.37 | 0.12 | -96.35 | -97.95 | 2.29 | -25.65 | -64.16 | 1.51 | -8.48 | -55.85 | 0.75 | -14.77 | -59.46 | 0.40 | -11.11 | -53.49 | 0.22 | 0.0 | 0.0 | 7.66 | -7.26 | -37.16 | 131.01 | 1.05 | -14.99 | 3.57 | -96.68 | -96.11 | 96.43 | 1385.71 | 1073.21 | 41.32 | 6.6 | 5.06 |
| 21Q1 (9) | 13.71 | -25.25 | 693.51 | 3.29 | -56.37 | 112.58 | 3.08 | -53.33 | 111.62 | 1.65 | -69.04 | 106.48 | 0.88 | -77.2 | 112.61 | 0.45 | -72.22 | 115.05 | 0.22 | -24.14 | 83.33 | 8.26 | -22.08 | 154.52 | 129.65 | -10.68 | -1.08 | 107.50 | -5.83 | 9.52 | -7.50 | 47.03 | -711.25 | 38.76 | 7.31 | 0 |
| 20Q4 (8) | 18.34 | -13.45 | 35.45 | 7.54 | -32.56 | 528.33 | 6.60 | -32.99 | 352.05 | 5.33 | -22.87 | 213.53 | 3.86 | -25.91 | 310.64 | 1.62 | -23.94 | 217.65 | 0.29 | -3.33 | 16.0 | 10.60 | -23.41 | 53.85 | 145.16 | -6.83 | 19.7 | 114.16 | 0.44 | 35.56 | -14.16 | -3.62 | -189.68 | 36.12 | 7.72 | -1.04 |
| 20Q3 (7) | 21.19 | 12.71 | 14.54 | 11.18 | 91.11 | 39.92 | 9.85 | 54.15 | 12.83 | 6.91 | 102.05 | 53.22 | 5.21 | 181.62 | 76.01 | 2.13 | 147.67 | 47.92 | 0.30 | 36.36 | 0.0 | 13.84 | 13.54 | 3.13 | 155.80 | 1.1 | 23.97 | 113.66 | 23.84 | 24.58 | -13.66 | -266.25 | -256.0 | 33.53 | -14.75 | -2.36 |
| 20Q2 (6) | 18.80 | 913.85 | 44.62 | 5.85 | 122.37 | 1200.0 | 6.39 | 124.11 | 159.76 | 3.42 | 113.43 | 197.39 | 1.85 | 126.5 | 230.36 | 0.86 | 128.76 | 138.89 | 0.22 | 83.33 | -8.33 | 12.19 | 180.46 | 39.31 | 154.11 | 17.58 | 39.78 | 91.78 | -6.5 | 432.33 | 8.22 | 569.86 | -90.07 | 39.33 | 0 | 0.54 |
| 20Q1 (5) | -2.31 | -117.06 | -140.46 | -26.15 | -2279.17 | -174.97 | -26.50 | -1915.07 | -202.86 | -25.46 | -1597.65 | -196.39 | -6.98 | -842.55 | -112.8 | -2.99 | -686.27 | -91.67 | 0.12 | -52.0 | -36.84 | -15.15 | -319.88 | -1682.35 | 131.07 | 8.08 | 31.4 | 98.16 | 16.56 | -9.56 | 1.23 | -92.23 | 114.37 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 13.54 | -26.81 | 0.0 | 1.20 | -84.98 | 0.0 | 1.46 | -83.28 | 0.0 | 1.70 | -62.31 | 0.0 | 0.94 | -68.24 | 0.0 | 0.51 | -64.58 | 0.0 | 0.25 | -16.67 | 0.0 | 6.89 | -48.66 | 0.0 | 121.27 | -3.51 | 0.0 | 84.21 | -7.71 | 0.0 | 15.79 | 80.26 | 0.0 | 36.50 | 6.29 | 0.0 |
| 19Q3 (3) | 18.50 | 42.31 | 0.0 | 7.99 | 1675.56 | 0.0 | 8.73 | 254.88 | 0.0 | 4.51 | 292.17 | 0.0 | 2.96 | 428.57 | 0.0 | 1.44 | 300.0 | 0.0 | 0.30 | 25.0 | 0.0 | 13.42 | 53.37 | 0.0 | 125.68 | 14.0 | 0.0 | 91.24 | 429.2 | 0.0 | 8.76 | -89.42 | 0.0 | 34.34 | -12.22 | 0.0 |
| 19Q2 (2) | 13.00 | 127.67 | 0.0 | 0.45 | 104.73 | 0.0 | 2.46 | 128.11 | 0.0 | 1.15 | 113.39 | 0.0 | 0.56 | 117.07 | 0.0 | 0.36 | 123.08 | 0.0 | 0.24 | 26.32 | 0.0 | 8.75 | 1129.41 | 0.0 | 110.25 | 10.53 | 0.0 | 17.24 | -84.11 | 0.0 | 82.76 | 1069.46 | 0.0 | 39.12 | -16.02 | 0.0 |
| 19Q1 (1) | 5.71 | 0.0 | 0.0 | -9.51 | 0.0 | 0.0 | -8.75 | 0.0 | 0.0 | -8.59 | 0.0 | 0.0 | -3.28 | 0.0 | 0.0 | -1.56 | 0.0 | 0.0 | 0.19 | 0.0 | 0.0 | -0.85 | 0.0 | 0.0 | 99.75 | 0.0 | 0.0 | 108.54 | 0.0 | 0.0 | -8.54 | 0.0 | 0.0 | 46.58 | 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) | 13.48 | 34.93 | -1.12 | 0 | 5.46 | 6.91 | -0.18 | 0 | -3.21 | 0 | -6.11 | 0 | -2.10 | 0 | 0.79 | -10.23 | 6.07 | 11.17 | 154.38 | 19.51 | 657.14 | 15.97 | -557.14 | 0 | 0.69 | -42.61 | 44.22 | -1.12 |
| 2022 (9) | 9.99 | -15.12 | -1.76 | 0 | 5.11 | 16.14 | -0.31 | 0 | -3.35 | 0 | -6.97 | 0 | -2.54 | 0 | 0.88 | -2.22 | 5.46 | -15.09 | 129.18 | -9.87 | 566.67 | 869.63 | -466.67 | 0 | 1.20 | 11.17 | 44.72 | 10.75 |
| 2021 (8) | 11.77 | -30.23 | 0.85 | -80.09 | 4.40 | -7.05 | 1.45 | -59.83 | 0.45 | -73.53 | 0.99 | -72.5 | 0.70 | -62.77 | 0.90 | -1.1 | 6.43 | -27.67 | 143.32 | -1.27 | 58.44 | -50.45 | 41.56 | 0 | 1.08 | 54.89 | 40.38 | 4.56 |
| 2020 (7) | 16.87 | 24.96 | 4.27 | 277.88 | 4.73 | -11.05 | 3.61 | 76.1 | 1.70 | 226.92 | 3.60 | 236.45 | 1.88 | 118.6 | 0.91 | -8.08 | 8.89 | 12.25 | 145.16 | 19.7 | 117.93 | 113.11 | -18.48 | 0 | 0.70 | -4.44 | 38.62 | 0.73 |
| 2019 (6) | 13.50 | 12.88 | 1.13 | 0 | 5.32 | 17.77 | 2.05 | 115.79 | 0.52 | 0 | 1.07 | 0 | 0.86 | 514.29 | 0.99 | -1.0 | 7.92 | 31.78 | 121.27 | 24.47 | 55.34 | 0 | 44.66 | -57.2 | 0.73 | -1.37 | 38.34 | -7.97 |
| 2018 (5) | 11.96 | -23.92 | -0.05 | 0 | 4.52 | 4.83 | 0.95 | -79.26 | -0.08 | 0 | -0.15 | 0 | 0.14 | -96.98 | 1.00 | -14.53 | 6.01 | -35.52 | 97.43 | 15.12 | -4.35 | 0 | 104.35 | 560.87 | 0.74 | 0 | 41.66 | 5.68 |
| 2017 (4) | 15.72 | -10.58 | 3.85 | -22.38 | 4.31 | -14.97 | 4.58 | -1.51 | 3.79 | 108.24 | 8.09 | 118.65 | 4.64 | 110.91 | 1.17 | 12.5 | 9.32 | -9.6 | 84.63 | 3.62 | 83.81 | -21.43 | 15.79 | 0 | 0.00 | 0 | 39.42 | -2.93 |
| 2016 (3) | 17.58 | 25.48 | 4.96 | 74.65 | 5.07 | 14.87 | 4.65 | 94.56 | 1.82 | 121.95 | 3.70 | 97.86 | 2.20 | 74.6 | 1.04 | -6.31 | 10.31 | 40.85 | 81.67 | -25.14 | 106.67 | -10.48 | -6.67 | 0 | 0.00 | 0 | 40.61 | 6.0 |
| 2015 (2) | 14.01 | 55.49 | 2.84 | 0 | 4.41 | -17.23 | 2.39 | 0 | 0.82 | 0 | 1.87 | 0 | 1.26 | 0 | 1.11 | 15.63 | 7.32 | 198.78 | 109.09 | 9.44 | 119.15 | 84.24 | -19.15 | 0 | 0.00 | 0 | 38.31 | -3.55 |
| 2014 (1) | 9.01 | 0 | -2.23 | 0 | 5.33 | 3.71 | -3.43 | 0 | -4.38 | 0 | -8.19 | 0 | -3.91 | 0 | 0.96 | -4.95 | 2.45 | -56.87 | 99.68 | 9.62 | 64.67 | 0 | 34.73 | -95.82 | 0.00 | 0 | 39.72 | 10.92 |
