- 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) | 3.70 | -12.11 | 60.87 | -0.87 | 7.45 | -448.0 | -1.68 | 57.36 | 21.5 | -1.55 | 53.59 | 8.82 | -2.11 | 47.64 | 41.39 | -0.16 | 38.46 | 62.79 | 0.47 | 56.67 | 4.44 | 0.32 | 191.43 | 132.0 | 167.77 | -21.49 | -55.71 | 52.38 | 114.29 | 527.78 | 47.62 | -36.97 | -57.58 | 2.75 | -10.42 | 123.58 |
| 23Q3 (19) | 4.21 | 77.64 | 35.37 | -0.94 | -527.27 | -185.45 | -3.94 | -306.19 | -706.15 | -3.34 | -297.62 | -718.52 | -4.03 | -79.91 | -405.3 | -0.26 | -360.0 | -144.83 | 0.30 | -45.45 | -45.45 | -0.35 | -171.43 | -123.97 | 213.69 | -44.09 | -42.0 | 24.44 | 205.93 | -85.67 | 75.56 | -36.63 | 207.04 | 3.07 | 119.29 | 136.15 |
| 23Q2 (18) | 2.37 | 13.4 | -45.89 | 0.22 | 188.0 | -87.28 | -0.97 | 45.51 | -202.11 | -0.84 | 43.24 | -227.27 | -2.24 | 29.78 | -285.12 | 0.10 | 176.92 | -79.59 | 0.55 | 22.22 | 37.5 | 0.49 | 644.44 | -73.94 | 382.22 | 0.02 | 22.22 | -23.08 | -253.85 | -112.9 | 119.23 | 36.26 | 251.03 | 1.40 | -13.58 | -19.54 |
| 23Q1 (17) | 2.09 | -9.13 | -37.8 | -0.25 | -200.0 | -116.67 | -1.78 | 16.82 | -221.09 | -1.48 | 12.94 | -232.14 | -3.19 | 11.39 | -193.82 | -0.13 | 69.77 | -115.66 | 0.45 | 0.0 | -31.82 | -0.09 | 91.0 | -105.11 | 382.14 | 0.88 | -7.23 | 15.00 | 222.5 | -85.31 | 87.50 | -22.05 | 4212.5 | 1.62 | 31.71 | 36.13 |
| 22Q4 (16) | 2.30 | -26.05 | -49.34 | 0.25 | -77.27 | -88.04 | -2.14 | -429.23 | -217.58 | -1.70 | -414.81 | -180.95 | -3.60 | -372.73 | -171.57 | -0.43 | -174.14 | -129.86 | 0.45 | -18.18 | -29.69 | -1.00 | -168.49 | -146.3 | 378.82 | 2.83 | 23.47 | -12.24 | -107.18 | -110.78 | 112.24 | 259.01 | 923.13 | 1.23 | -5.38 | -15.75 |
| 22Q3 (15) | 3.11 | -29.0 | -18.8 | 1.10 | -36.42 | -12.0 | 0.65 | -31.58 | -45.83 | 0.54 | -18.18 | -35.71 | 1.32 | 9.09 | -23.26 | 0.58 | 18.37 | -3.33 | 0.55 | 37.5 | -9.84 | 1.46 | -22.34 | -5.81 | 368.41 | 17.81 | 51.66 | 170.59 | -4.67 | 64.03 | -70.59 | 10.59 | -1664.71 | 1.30 | -25.29 | -21.21 |
| 22Q2 (14) | 4.38 | 30.36 | 23.38 | 1.73 | 15.33 | 39.52 | 0.95 | -35.37 | 46.15 | 0.66 | -41.07 | 57.14 | 1.21 | -64.41 | 34.44 | 0.49 | -40.96 | 40.0 | 0.40 | -39.39 | -34.43 | 1.88 | 6.82 | 86.14 | 312.72 | -24.08 | 36.05 | 178.95 | 75.22 | -7.21 | -78.95 | -3610.53 | 14.98 | 1.74 | 46.22 | 13.73 |
| 22Q1 (13) | 3.36 | -25.99 | 0.3 | 1.50 | -28.23 | 25.0 | 1.47 | -19.23 | 27.83 | 1.12 | -46.67 | 34.94 | 3.40 | -32.41 | 52.47 | 0.83 | -42.36 | 9.21 | 0.66 | 3.13 | -22.35 | 1.76 | -18.52 | 30.37 | 411.91 | 34.26 | 52.63 | 102.13 | -10.13 | -4.06 | -2.13 | 84.4 | 67.02 | 1.19 | -18.49 | -6.3 |
| 21Q4 (12) | 4.54 | 18.54 | -0.22 | 2.09 | 67.2 | 1206.25 | 1.82 | 51.67 | 345.95 | 2.10 | 150.0 | 347.06 | 5.03 | 192.44 | 537.39 | 1.44 | 140.0 | 947.06 | 0.64 | 4.92 | 82.86 | 2.16 | 39.35 | 3185.71 | 306.81 | 26.3 | 90.12 | 113.64 | 9.27 | 668.18 | -13.64 | -240.91 | -111.36 | 1.46 | -11.52 | -34.82 |
| 21Q3 (11) | 3.83 | 7.89 | 40.29 | 1.25 | 0.81 | 4.17 | 1.20 | 84.62 | 31.87 | 0.84 | 100.0 | 29.23 | 1.72 | 91.11 | -31.47 | 0.60 | 71.43 | 5.26 | 0.61 | 0.0 | -12.86 | 1.55 | 53.47 | 28.1 | 242.92 | 5.68 | -40.99 | 104.00 | -46.07 | -22.55 | -4.00 | 95.69 | 87.27 | 1.65 | 7.84 | 81.32 |
| 21Q2 (10) | 3.55 | 5.97 | 75.74 | 1.24 | 3.33 | 29.17 | 0.65 | -43.48 | -14.47 | 0.42 | -49.4 | -25.0 | 0.90 | -59.64 | -69.39 | 0.35 | -53.95 | -46.15 | 0.61 | -28.24 | -31.46 | 1.01 | -25.19 | -2.88 | 229.86 | -14.83 | -53.35 | 192.86 | 81.17 | 51.26 | -92.86 | -1339.29 | -237.66 | 1.53 | 20.47 | 0 |
| 21Q1 (9) | 3.35 | -26.37 | 10.56 | 1.20 | 650.0 | -17.24 | 1.15 | 255.41 | 22.34 | 0.83 | 197.65 | 18.57 | 2.23 | 293.91 | -14.56 | 0.76 | 547.06 | 13.43 | 0.85 | 142.86 | 28.79 | 1.35 | 2028.57 | -6.25 | 269.88 | 67.23 | -44.75 | 106.45 | 632.26 | -31.0 | -6.45 | -105.38 | 88.12 | 1.27 | -43.3 | 0 |
| 20Q4 (8) | 4.55 | 66.67 | 69.14 | 0.16 | -86.67 | -84.31 | -0.74 | -181.32 | -362.5 | -0.85 | -230.77 | -286.36 | -1.15 | -145.82 | -59.72 | -0.17 | -129.82 | -144.74 | 0.35 | -50.0 | -30.0 | -0.07 | -105.79 | -106.03 | 161.38 | -60.79 | -63.21 | -20.00 | -114.89 | 97.06 | 120.00 | 481.82 | -84.62 | 2.24 | 146.15 | 244.62 |
| 20Q3 (7) | 2.73 | 35.15 | 28.17 | 1.20 | 25.0 | 14.29 | 0.91 | 19.74 | 167.65 | 0.65 | 16.07 | 195.45 | 2.51 | -14.63 | 85.93 | 0.57 | -12.31 | -12.31 | 0.70 | -21.35 | -12.5 | 1.21 | 16.35 | 7.08 | 411.63 | -16.47 | -39.52 | 134.29 | 5.32 | -55.94 | -31.43 | -14.29 | 84.65 | 0.91 | 0 | 49.18 |
| 20Q2 (6) | 2.02 | -33.33 | -22.31 | 0.96 | -33.79 | -26.15 | 0.76 | -19.15 | 43.4 | 0.56 | -20.0 | 47.37 | 2.94 | 12.64 | 41.35 | 0.65 | -2.99 | -18.75 | 0.89 | 34.85 | 14.1 | 1.04 | -27.78 | -24.09 | 492.78 | 0.88 | -24.71 | 127.50 | -17.36 | -48.26 | -27.50 | 49.34 | 81.22 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 3.03 | 12.64 | 44.98 | 1.45 | 42.16 | 57.61 | 0.94 | 687.5 | 840.0 | 0.70 | 418.18 | 84.21 | 2.61 | 462.5 | 49.14 | 0.67 | 76.32 | -17.28 | 0.66 | 32.0 | -13.16 | 1.44 | 24.14 | 41.18 | 488.50 | 11.36 | -6.97 | 154.29 | 122.69 | -84.95 | -54.29 | -106.96 | 94.13 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 2.69 | 26.29 | 0.0 | 1.02 | -2.86 | 0.0 | -0.16 | -147.06 | 0.0 | -0.22 | -200.0 | 0.0 | -0.72 | -153.33 | 0.0 | 0.38 | -41.54 | 0.0 | 0.50 | -37.5 | 0.0 | 1.16 | 2.65 | 0.0 | 438.66 | -35.55 | 0.0 | -680.00 | -323.12 | 0.0 | 780.00 | 480.93 | 0.0 | 0.65 | 6.56 | 0.0 |
| 19Q3 (3) | 2.13 | -18.08 | 0.0 | 1.05 | -19.23 | 0.0 | 0.34 | -35.85 | 0.0 | 0.22 | -42.11 | 0.0 | 1.35 | -35.1 | 0.0 | 0.65 | -18.75 | 0.0 | 0.80 | 2.56 | 0.0 | 1.13 | -17.52 | 0.0 | 680.60 | 3.98 | 0.0 | 304.76 | 23.67 | 0.0 | -204.76 | -39.84 | 0.0 | 0.61 | -16.44 | 0.0 |
| 19Q2 (2) | 2.60 | 24.4 | 0.0 | 1.30 | 41.3 | 0.0 | 0.53 | 430.0 | 0.0 | 0.38 | 0.0 | 0.0 | 2.08 | 18.86 | 0.0 | 0.80 | -1.23 | 0.0 | 0.78 | 2.63 | 0.0 | 1.37 | 34.31 | 0.0 | 654.54 | 24.65 | 0.0 | 246.43 | -75.96 | 0.0 | -146.43 | 84.17 | 0.0 | 0.73 | 0.0 | 0.0 |
| 19Q1 (1) | 2.09 | 0.0 | 0.0 | 0.92 | 0.0 | 0.0 | 0.10 | 0.0 | 0.0 | 0.38 | 0.0 | 0.0 | 1.75 | 0.0 | 0.0 | 0.81 | 0.0 | 0.0 | 0.76 | 0.0 | 0.0 | 1.02 | 0.0 | 0.0 | 525.09 | 0.0 | 0.0 | 1025.00 | 0.0 | 0.0 | -925.00 | 0.0 | 0.0 | 0.73 | 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) | 2.80 | -13.85 | -0.30 | 0 | 0.23 | 69.0 | -1.80 | 0 | -1.55 | 0 | -11.39 | 0 | -0.42 | 0 | 1.93 | -11.47 | 0.15 | -86.11 | 167.77 | -55.71 | 16.03 | -95.34 | 83.97 | 0 | 0.70 | 1677.3 | 1.96 | 47.37 |
| 2022 (9) | 3.25 | -14.7 | 1.16 | -20.0 | 0.14 | -0.07 | 0.33 | -72.95 | 0.24 | -77.36 | 2.30 | -76.55 | 1.52 | -53.52 | 2.18 | -20.73 | 1.08 | -28.95 | 378.82 | 23.47 | 344.12 | 188.45 | -244.12 | 0 | 0.04 | -45.18 | 1.33 | -9.52 |
| 2021 (8) | 3.81 | 40.07 | 1.45 | 34.26 | 0.14 | 51.92 | 1.22 | 74.29 | 1.06 | 116.33 | 9.81 | 40.95 | 3.27 | 28.24 | 2.75 | -23.61 | 1.52 | 40.74 | 306.81 | 90.12 | 119.30 | -21.76 | -19.30 | 0 | 0.07 | 87.71 | 1.47 | 51.55 |
| 2020 (7) | 2.72 | 15.74 | 1.08 | 0.0 | 0.09 | 59.41 | 0.70 | 180.0 | 0.49 | 113.04 | 6.96 | 55.01 | 2.55 | -20.06 | 3.60 | 3.45 | 1.08 | -7.69 | 161.38 | -63.21 | 152.48 | -64.81 | -52.48 | 0 | 0.04 | 0.95 | 0.97 | 42.65 |
| 2019 (6) | 2.35 | -15.16 | 1.08 | 1.89 | 0.06 | 55.56 | 0.25 | -37.5 | 0.23 | -20.69 | 4.49 | 9.25 | 3.19 | 16.42 | 3.48 | 2.96 | 1.17 | 7.34 | 438.66 | -10.84 | 433.33 | 62.5 | -333.33 | 0 | 0.04 | 8.51 | 0.68 | -32.0 |
| 2018 (5) | 2.77 | 2.21 | 1.06 | 211.76 | 0.04 | -33.73 | 0.40 | 0 | 0.29 | 0 | 4.11 | 0 | 2.74 | 372.41 | 3.38 | 27.07 | 1.09 | 263.33 | 491.99 | 255.51 | 266.67 | 0 | -166.67 | 0 | 0.03 | 0 | 1.00 | -31.03 |
| 2017 (4) | 2.71 | -15.84 | 0.34 | -72.13 | 0.06 | 19.25 | -0.39 | 0 | -0.30 | 0 | -2.70 | 0 | 0.58 | -79.72 | 2.66 | -11.63 | 0.30 | -76.38 | 138.39 | -56.64 | -83.33 | 0 | 183.33 | 0 | 0.00 | 0 | 1.45 | 20.83 |
| 2016 (3) | 3.22 | -8.78 | 1.22 | 31.18 | 0.05 | -42.87 | 0.89 | 30.88 | 0.67 | 15.52 | 7.88 | 40.46 | 2.86 | 38.16 | 3.01 | 17.58 | 1.27 | 20.95 | 319.14 | 22.02 | 136.52 | -0.59 | -37.39 | 0 | 0.00 | 0 | 1.20 | -14.89 |
| 2015 (2) | 3.53 | -6.61 | 0.93 | -41.51 | 0.08 | 5.87 | 0.68 | -37.61 | 0.58 | -35.56 | 5.61 | -57.37 | 2.07 | -37.27 | 2.56 | -14.95 | 1.05 | -26.06 | 261.54 | -10.13 | 137.33 | -5.79 | -37.33 | 0 | 0.00 | 0 | 1.41 | 6.82 |
| 2014 (1) | 3.78 | 0 | 1.59 | 0 | 0.08 | -40.68 | 1.09 | 0 | 0.90 | 0 | 13.16 | 0 | 3.30 | 0 | 3.01 | 31.44 | 1.42 | 0 | 291.02 | -49.39 | 145.77 | 62.73 | -45.77 | 0 | 0.00 | 0 | 1.32 | -23.7 |
