- 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) | 25.56 | -8.09 | 67.28 | 9.45 | 144.85 | 318.24 | 11.71 | 173.51 | 6605.56 | 12.48 | 174.95 | 2700.0 | 5.80 | 297.28 | 2621.74 | 2.54 | 309.92 | 2922.22 | 0.20 | 185.71 | -13.04 | 13.36 | 211.71 | 634.07 | 113.41 | -25.83 | 10.25 | 80.65 | -36.33 | 0 | 19.35 | 158.06 | 0 | 11.99 | -66.31 | -15.68 |
| 23Q3 (19) | 27.81 | 96.4 | -22.47 | -21.07 | -191.83 | -2165.59 | -15.93 | -305.34 | -965.76 | -16.65 | -255.77 | -499.28 | -2.94 | -96.0 | -419.57 | -1.21 | -80.6 | -381.4 | 0.07 | -50.0 | -30.0 | -11.96 | -550.0 | -301.35 | 152.91 | 23.55 | 27.57 | 126.67 | -36.67 | 353.33 | -33.33 | 60.0 | -122.22 | 35.59 | 86.43 | 14.33 |
| 23Q2 (18) | 14.16 | -34.44 | -20.27 | -7.22 | 60.89 | -48.87 | -3.93 | 76.52 | 20.45 | -4.68 | 72.29 | 14.44 | -1.50 | 49.66 | 23.47 | -0.67 | 52.14 | 22.99 | 0.14 | 75.0 | -12.5 | -1.84 | 84.54 | 22.69 | 123.76 | 3.76 | 3.53 | 200.00 | 75.0 | 100.0 | -83.33 | -1066.67 | 0 | 19.09 | -47.48 | 5.64 |
| 23Q1 (17) | 21.60 | 41.36 | 33.83 | -18.46 | -326.33 | 12.18 | -16.74 | -9200.0 | -8.91 | -16.89 | -3418.75 | -6.63 | -2.98 | -1195.65 | 4.79 | -1.40 | -1455.56 | 3.45 | 0.08 | -65.22 | -11.11 | -11.90 | -753.85 | -11.84 | 119.27 | 15.94 | -6.09 | 114.29 | 0 | -20.0 | -7.14 | 0 | 80.0 | 36.35 | 155.63 | 10.62 |
| 22Q4 (16) | 15.28 | -57.4 | -46.93 | -4.33 | -365.59 | -140.09 | -0.18 | -109.78 | -101.18 | -0.48 | -111.51 | -103.57 | -0.23 | -125.0 | -103.68 | -0.09 | -120.93 | -103.02 | 0.23 | 130.0 | 4.55 | 1.82 | -69.36 | -89.67 | 102.87 | -14.17 | 1.25 | 0.00 | 100.0 | -100.0 | 0.00 | -100.0 | -100.0 | 14.22 | -54.32 | -12.06 |
| 22Q3 (15) | 35.87 | 101.97 | 123.91 | -0.93 | 80.82 | 92.26 | 1.84 | 137.25 | 119.47 | 4.17 | 176.23 | 146.54 | 0.92 | 146.94 | 138.33 | 0.43 | 149.43 | 140.57 | 0.10 | -37.5 | -16.67 | 5.94 | 349.58 | 200.17 | 119.86 | 0.27 | -2.85 | -50.00 | -150.0 | -139.29 | 150.00 | 0 | 650.0 | 31.13 | 72.27 | 62.47 |
| 22Q2 (14) | 17.76 | 10.04 | 1.83 | -4.85 | 76.93 | 6.01 | -4.94 | 67.86 | -5.78 | -5.47 | 65.47 | -7.47 | -1.96 | 37.38 | -5.38 | -0.87 | 40.0 | -11.54 | 0.16 | 77.78 | 0.0 | -2.38 | 77.63 | -32.96 | 119.54 | -5.87 | 2.51 | 100.00 | -30.0 | -11.11 | -0.00 | 100.0 | 100.0 | 18.07 | -45.01 | 8.86 |
| 22Q1 (13) | 16.14 | -43.94 | -9.43 | -21.02 | -294.63 | -2602.38 | -15.37 | -200.65 | -3000.0 | -15.84 | -217.77 | -3088.68 | -3.13 | -150.08 | -1352.0 | -1.45 | -148.66 | -1215.38 | 0.09 | -59.09 | -55.0 | -10.64 | -160.39 | -488.32 | 127.00 | 25.0 | -8.36 | 142.86 | 98.76 | -28.57 | -35.71 | -226.98 | 64.29 | 32.86 | 103.22 | 149.13 |
| 21Q4 (12) | 28.79 | 79.71 | 79.94 | 10.80 | 189.93 | 190.45 | 15.27 | 261.59 | 252.55 | 13.45 | 250.11 | 247.32 | 6.25 | 360.42 | 256.25 | 2.98 | 381.13 | 274.27 | 0.22 | 83.33 | 15.79 | 17.62 | 397.13 | 315.67 | 101.60 | -17.65 | -21.49 | 71.88 | -43.53 | -39.62 | 28.12 | 203.12 | 247.66 | 16.17 | -15.61 | 12.53 |
| 21Q3 (11) | 16.02 | -8.14 | -37.52 | -12.01 | -132.75 | -85.63 | -9.45 | -102.36 | -82.79 | -8.96 | -76.03 | -67.16 | -2.40 | -29.03 | -61.07 | -1.06 | -35.9 | -79.66 | 0.12 | -25.0 | 0.0 | -5.93 | -231.28 | -300.68 | 123.37 | 5.8 | -5.89 | 127.27 | 13.13 | -1.01 | -27.27 | -118.18 | 4.55 | 19.16 | 15.42 | -27.01 |
| 21Q2 (10) | 17.44 | -2.13 | 874.3 | -5.16 | -714.29 | 86.75 | -4.67 | -981.13 | -105.83 | -5.09 | -1060.38 | -106.43 | -1.86 | -844.0 | -111.47 | -0.78 | -700.0 | -111.68 | 0.16 | -20.0 | 100.0 | -1.79 | -165.33 | -102.11 | 116.61 | -15.86 | -5.31 | 112.50 | -43.75 | 331.25 | -12.50 | 87.5 | -108.41 | 16.60 | 25.85 | 0 |
| 21Q1 (9) | 17.82 | 11.38 | 64.39 | 0.84 | 107.04 | 101.86 | 0.53 | 105.29 | 101.2 | 0.53 | 105.81 | 101.32 | 0.25 | 106.25 | 103.7 | 0.13 | 107.6 | 104.83 | 0.20 | 5.26 | 185.71 | 2.74 | 133.54 | 106.8 | 138.59 | 7.09 | -20.61 | 200.00 | 68.0 | 93.94 | -100.00 | -425.0 | -3100.0 | 13.19 | -8.21 | 0 |
| 20Q4 (8) | 16.00 | -37.6 | 5.06 | -11.94 | -84.54 | -9.34 | -10.01 | -93.62 | -50.53 | -9.13 | -70.34 | -51.66 | -4.00 | -168.46 | -87.79 | -1.71 | -189.83 | -103.57 | 0.19 | 58.33 | 18.75 | -8.17 | -452.03 | -87.82 | 129.41 | -1.28 | 3.13 | 119.05 | -7.41 | -27.25 | -19.05 | 33.33 | 70.07 | 14.37 | -45.26 | -35.65 |
| 20Q3 (7) | 25.64 | 1332.4 | 27.25 | -6.47 | 83.39 | 34.18 | -5.17 | -106.46 | 56.26 | -5.36 | -106.77 | 50.0 | -1.49 | -109.19 | 48.26 | -0.59 | -108.83 | 53.17 | 0.12 | 50.0 | -7.69 | -1.48 | -101.75 | 81.5 | 131.09 | 6.45 | 4.37 | 128.57 | 364.29 | 60.71 | -28.57 | -119.22 | -314.29 | 26.25 | 0 | 2.82 |
| 20Q2 (6) | 1.79 | -83.49 | -89.15 | -38.95 | 13.58 | -172.0 | 80.04 | 281.29 | 646.35 | 79.15 | 296.65 | 662.54 | 16.21 | 339.79 | 531.12 | 6.68 | 348.33 | 461.08 | 0.08 | 14.29 | -38.46 | 84.78 | 310.48 | 823.38 | 123.15 | -29.46 | 18.92 | -48.65 | -147.17 | -151.35 | 148.65 | 4856.76 | 0 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 10.84 | -28.82 | -44.09 | -45.07 | -312.73 | -117.73 | -44.15 | -563.91 | -107.37 | -40.25 | -568.6 | -92.86 | -6.76 | -217.37 | -65.69 | -2.69 | -220.24 | -25.12 | 0.07 | -56.25 | -30.0 | -40.28 | -825.98 | -144.27 | 174.57 | 39.12 | 83.91 | 103.12 | -36.98 | 8.28 | -3.12 | 95.09 | -165.62 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 15.23 | -24.42 | 0.0 | -10.92 | -11.09 | 0.0 | -6.65 | 43.74 | 0.0 | -6.02 | 43.84 | 0.0 | -2.13 | 26.04 | 0.0 | -0.84 | 33.33 | 0.0 | 0.16 | 23.08 | 0.0 | -4.35 | 45.63 | 0.0 | 125.48 | -0.1 | 0.0 | 163.64 | 104.55 | 0.0 | -63.64 | -577.27 | 0.0 | 22.33 | -12.53 | 0.0 |
| 19Q3 (3) | 20.15 | 22.12 | 0.0 | -9.83 | 31.35 | 0.0 | -11.82 | 19.32 | 0.0 | -10.72 | 23.81 | 0.0 | -2.88 | 23.4 | 0.0 | -1.26 | 31.89 | 0.0 | 0.13 | 0.0 | 0.0 | -8.00 | 31.74 | 0.0 | 125.60 | 21.28 | 0.0 | 80.00 | -15.56 | 0.0 | 13.33 | 0 | 0.0 | 25.53 | -11.72 | 0.0 |
| 19Q2 (2) | 16.50 | -14.9 | 0.0 | -14.32 | 30.82 | 0.0 | -14.65 | 31.19 | 0.0 | -14.07 | 32.58 | 0.0 | -3.76 | 7.84 | 0.0 | -1.85 | 13.95 | 0.0 | 0.13 | 30.0 | 0.0 | -11.72 | 28.93 | 0.0 | 103.56 | 9.1 | 0.0 | 94.74 | -0.53 | 0.0 | 0.00 | -100.0 | 0.0 | 28.92 | -22.47 | 0.0 |
| 19Q1 (1) | 19.39 | 0.0 | 0.0 | -20.70 | 0.0 | 0.0 | -21.29 | 0.0 | 0.0 | -20.87 | 0.0 | 0.0 | -4.08 | 0.0 | 0.0 | -2.15 | 0.0 | 0.0 | 0.10 | 0.0 | 0.0 | -16.49 | 0.0 | 0.0 | 94.92 | 0.0 | 0.0 | 95.24 | 0.0 | 0.0 | 4.76 | 0.0 | 0.0 | 37.30 | 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) | 22.27 | 13.05 | -3.66 | 0 | 2.33 | -3.16 | -0.76 | 0 | -0.76 | 0 | -0.86 | 0 | -0.32 | 0 | 0.54 | -12.9 | 2.00 | 0 | 113.41 | 10.25 | 440.00 | 143.16 | -340.00 | 0 | 0.39 | -8.35 | 20.95 | -1.46 |
| 2022 (9) | 19.70 | -4.6 | -6.58 | 0 | 2.41 | 14.66 | -3.65 | 0 | -3.59 | 0 | -4.47 | 0 | -2.14 | 0 | 0.62 | -12.68 | -0.86 | 0 | 102.87 | 1.25 | 180.95 | 1166.67 | -80.95 | 0 | 0.43 | -19.06 | 21.26 | 34.05 |
| 2021 (8) | 20.65 | 35.59 | 0.22 | 0 | 2.10 | 6.36 | 1.98 | -29.54 | 1.43 | -59.26 | 2.17 | -44.22 | 1.13 | -42.35 | 0.71 | 44.9 | 4.48 | -26.68 | 101.60 | -21.49 | 14.29 | 0 | 92.86 | -88.79 | 0.53 | 464.14 | 15.86 | -39.72 |
| 2020 (7) | 15.23 | -13.17 | -20.14 | 0 | 1.97 | 0.79 | 2.81 | 0 | 3.51 | 0 | 3.89 | 0 | 1.96 | 0 | 0.49 | -9.26 | 6.11 | 0 | 129.41 | 3.13 | -728.57 | 0 | 828.57 | 0 | 0.09 | -76.51 | 26.31 | -4.67 |
| 2019 (6) | 17.54 | -16.08 | -13.36 | 0 | 1.96 | 70.58 | -12.70 | 0 | -12.01 | 0 | -12.96 | 0 | -6.20 | 0 | 0.54 | -10.0 | -9.39 | 0 | 125.48 | 61.41 | 104.62 | -14.41 | -4.62 | 0 | 0.40 | -49.66 | 27.60 | 4.35 |
| 2018 (5) | 20.90 | -15.83 | -10.42 | 0 | 1.15 | 1.78 | -8.51 | 0 | -7.48 | 0 | -7.38 | 0 | -4.42 | 0 | 0.60 | -13.04 | -6.50 | 0 | 77.74 | 45.53 | 122.22 | -89.37 | -22.22 | 0 | 0.79 | 0 | 26.45 | 12.41 |
| 2017 (4) | 24.83 | 19.66 | -3.72 | 0 | 1.13 | -9.57 | -0.31 | 0 | -2.42 | 0 | -2.65 | 0 | -1.62 | 0 | 0.69 | -8.0 | 1.61 | 0 | 53.42 | -17.27 | 1150.00 | 666.67 | -1050.00 | 0 | 0.00 | 0 | 23.53 | 19.99 |
| 2016 (3) | 20.75 | 40.39 | -4.14 | 0 | 1.25 | 42.48 | -2.83 | 0 | -2.97 | 0 | -3.63 | 0 | -2.21 | 0 | 0.75 | -26.47 | -1.25 | 0 | 64.57 | 3.84 | 150.00 | -8.7 | -45.00 | 0 | 0.00 | 0 | 19.61 | 50.04 |
| 2015 (2) | 14.78 | -23.38 | -1.99 | 0 | 0.87 | 15.31 | -1.24 | 0 | -0.91 | 0 | -1.63 | 0 | -0.92 | 0 | 1.02 | 2.0 | -0.09 | 0 | 62.18 | -30.19 | 164.29 | 71.87 | -64.29 | 0 | 0.00 | 0 | 13.07 | 9.92 |
| 2014 (1) | 19.29 | 0 | 4.94 | 0 | 0.76 | -12.37 | 5.14 | 0 | 3.89 | 0 | 7.99 | 0 | 3.88 | 0 | 1.00 | 14.94 | 6.15 | 1.49 | 89.07 | -28.13 | 95.59 | 7.06 | 4.41 | -58.82 | 0.00 | 0 | 11.89 | 0.51 |
