- 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) | 27.47 | 16.05 | 523.27 | 15.65 | -9.9 | 127.93 | 64.75 | 362.17 | 187.63 | 51.46 | 393.86 | 180.92 | 15.34 | 96.16 | 816.82 | 5.73 | 131.98 | 1161.11 | 0.11 | -52.17 | 1000.0 | 66.12 | 352.88 | 230.11 | 150.39 | -22.06 | -37.61 | 24.02 | -80.58 | -68.21 | 75.70 | 419.41 | 209.67 | 6.60 | 186.96 | -87.93 |
| 23Q3 (19) | 23.67 | 105.47 | 16.14 | 17.37 | 1457.03 | 58.2 | 14.01 | 498.01 | 1.16 | 10.42 | 330.02 | -16.44 | 7.82 | 1077.5 | 145.91 | 2.47 | 1864.29 | 137.5 | 0.23 | 360.0 | 187.5 | 14.60 | 3955.56 | -12.99 | 192.96 | -24.89 | -13.67 | 123.70 | 209.25 | 58.34 | -23.70 | -139.5 | -216.67 | 2.30 | -75.71 | -63.61 |
| 23Q2 (18) | 11.52 | -26.67 | -55.45 | -1.28 | -113.43 | -106.59 | -3.52 | -138.77 | -117.05 | -4.53 | -169.59 | -126.93 | -0.80 | -123.26 | -108.33 | -0.14 | -113.21 | -104.9 | 0.05 | -66.67 | -68.75 | 0.36 | -96.47 | -98.36 | 256.92 | 3.38 | 1.01 | 40.00 | -61.88 | -57.61 | 60.00 | 1315.0 | 883.08 | 9.47 | 194.1 | 140.97 |
| 23Q1 (17) | 15.71 | 342.06 | -53.29 | 9.53 | 117.01 | -59.65 | 9.08 | 112.29 | -62.01 | 6.51 | 110.24 | -66.48 | 3.44 | 260.75 | -54.38 | 1.06 | 296.3 | -55.65 | 0.15 | 1400.0 | 25.0 | 10.19 | 120.05 | -59.88 | 248.51 | 3.1 | 3.4 | 104.94 | 38.89 | 6.23 | -4.94 | -120.2 | -507.41 | 3.22 | -94.11 | -59.19 |
| 22Q4 (16) | -6.49 | -131.84 | -120.01 | -56.03 | -610.29 | -431.34 | -73.89 | -633.5 | -561.52 | -63.59 | -609.94 | -536.15 | -2.14 | -167.3 | -168.15 | -0.54 | -151.92 | -148.21 | 0.01 | -87.5 | -85.71 | -50.82 | -402.86 | -358.36 | 241.03 | 7.83 | 17.26 | 75.56 | -3.29 | -28.16 | 24.44 | 20.34 | 572.59 | 54.68 | 765.19 | 318.04 |
| 22Q3 (15) | 20.38 | -21.19 | -32.38 | 10.98 | -43.46 | -49.61 | 13.85 | -32.93 | -37.64 | 12.47 | -25.86 | -35.92 | 3.18 | -66.88 | -52.54 | 1.04 | -63.64 | -56.49 | 0.08 | -50.0 | -33.33 | 16.78 | -23.62 | -30.34 | 223.52 | -12.12 | 23.98 | 78.12 | -17.21 | -19.91 | 20.31 | 232.81 | 1139.06 | 6.32 | 60.81 | -11.85 |
| 22Q2 (14) | 25.86 | -23.1 | 11.37 | 19.42 | -17.78 | 15.05 | 20.65 | -13.6 | 21.33 | 16.82 | -13.39 | 23.31 | 9.60 | 27.32 | 69.61 | 2.86 | 19.67 | 36.84 | 0.16 | 33.33 | 6.67 | 21.97 | -13.5 | 18.12 | 254.36 | 5.83 | 35.98 | 94.37 | -4.48 | -4.77 | 6.10 | 403.52 | 571.36 | 3.93 | -50.19 | -41.08 |
| 22Q1 (13) | 33.63 | 3.7 | 57.96 | 23.62 | 39.68 | 126.68 | 23.90 | 49.28 | 118.46 | 19.42 | 33.2 | 80.99 | 7.54 | 140.13 | 63.56 | 2.39 | 113.39 | 39.77 | 0.12 | 71.43 | -25.0 | 25.40 | 29.13 | 106.34 | 240.35 | 16.93 | 50.86 | 98.79 | -6.07 | 3.08 | 1.21 | 123.43 | -70.91 | 7.89 | -39.68 | 16.89 |
| 21Q4 (12) | 32.43 | 7.6 | 68.47 | 16.91 | -22.4 | 57.89 | 16.01 | -27.92 | 43.07 | 14.58 | -25.08 | 37.55 | 3.14 | -53.13 | -37.45 | 1.12 | -53.14 | -29.56 | 0.07 | -41.67 | -56.25 | 19.67 | -18.35 | 72.09 | 205.55 | 14.02 | 9.97 | 105.17 | 7.82 | 9.44 | -5.17 | -415.52 | -232.76 | 13.08 | 82.43 | 171.93 |
| 21Q3 (11) | 30.14 | 29.8 | 64.07 | 21.79 | 29.09 | 150.17 | 22.21 | 30.49 | 157.06 | 19.46 | 42.67 | 125.23 | 6.70 | 18.37 | 103.65 | 2.39 | 14.35 | 143.88 | 0.12 | -20.0 | 9.09 | 24.09 | 29.52 | 144.07 | 180.28 | -3.62 | -17.67 | 97.54 | -1.56 | -4.78 | 1.64 | 80.33 | 0 | 7.17 | 7.5 | -12.35 |
| 21Q2 (10) | 23.22 | 9.07 | 35.63 | 16.88 | 62.0 | 55.43 | 17.02 | 55.58 | 55.43 | 13.64 | 27.12 | 25.71 | 5.66 | 22.78 | -45.73 | 2.09 | 22.22 | -19.62 | 0.15 | -6.25 | -37.5 | 18.60 | 51.1 | 58.97 | 187.06 | 17.41 | -28.5 | 99.09 | 3.4 | 0.02 | 0.91 | -78.18 | -1.82 | 6.67 | -1.19 | 0 |
| 21Q1 (9) | 21.29 | 10.6 | 223.56 | 10.42 | -2.71 | 241.77 | 10.94 | -2.23 | 256.29 | 10.73 | 1.23 | 253.29 | 4.61 | -8.17 | 346.52 | 1.71 | 7.55 | 550.0 | 0.16 | 0.0 | 166.67 | 12.31 | 7.7 | 392.4 | 159.32 | -14.77 | -55.19 | 95.83 | -0.28 | -9.21 | 4.17 | 6.94 | 175.0 | 6.75 | 40.33 | 0 |
| 20Q4 (8) | 19.25 | 4.79 | 117.51 | 10.71 | 22.96 | 2428.26 | 11.19 | 29.51 | 770.06 | 10.60 | 22.69 | 734.73 | 5.02 | 52.58 | 996.43 | 1.59 | 62.24 | 1235.71 | 0.16 | 45.45 | 77.78 | 11.43 | 15.81 | 0 | 186.92 | -14.64 | -40.22 | 96.10 | -6.18 | 188.31 | 3.90 | 0 | -94.16 | 4.81 | -41.2 | 0 |
| 20Q3 (7) | 18.37 | 7.3 | 77.66 | 8.71 | -19.8 | 314.53 | 8.64 | -21.1 | 461.51 | 8.64 | -20.37 | 461.51 | 3.29 | -68.46 | 709.26 | 0.98 | -62.31 | 712.5 | 0.11 | -54.17 | 57.14 | 9.87 | -15.64 | 1021.59 | 218.97 | -16.31 | -16.12 | 102.44 | 3.4 | -43.09 | 0.00 | -100.0 | 100.0 | 8.18 | 0 | -48.03 |
| 20Q2 (6) | 17.12 | 160.18 | 67.84 | 10.86 | 247.76 | 955.12 | 10.95 | 256.43 | 9854.55 | 10.85 | 255.0 | 9763.64 | 10.43 | 657.75 | 34666.67 | 2.60 | 784.21 | 12900.0 | 0.24 | 300.0 | 118.18 | 11.70 | 377.91 | 473.53 | 261.63 | -26.41 | 40.46 | 99.07 | -6.14 | 0 | 0.93 | 116.67 | 0 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 6.58 | -25.65 | -58.06 | -7.35 | -1497.83 | -203.67 | -7.00 | -319.16 | -198.73 | -7.00 | -319.16 | -198.73 | -1.87 | -233.93 | -156.33 | -0.38 | -171.43 | -128.36 | 0.06 | -33.33 | -66.67 | -4.21 | 0 | -149.36 | 355.53 | 13.71 | 149.16 | 105.56 | 216.67 | 5.56 | -5.56 | -108.33 | 0 | 0.00 | 0 | -100.0 |
| 19Q4 (4) | 8.85 | -14.41 | 0.0 | -0.46 | 88.67 | 0.0 | -1.67 | 30.13 | 0.0 | -1.67 | 30.13 | 0.0 | -0.56 | -3.7 | 0.0 | -0.14 | 12.5 | 0.0 | 0.09 | 28.57 | 0.0 | 0.00 | -100.0 | 0.0 | 312.66 | 19.77 | 0.0 | 33.33 | -81.48 | 0.0 | 66.67 | 183.33 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 10.34 | 1.37 | 0.0 | -4.06 | -219.69 | 0.0 | -2.39 | -2272.73 | 0.0 | -2.39 | -2272.73 | 0.0 | -0.54 | -1900.0 | 0.0 | -0.16 | -900.0 | 0.0 | 0.07 | -36.36 | 0.0 | 0.88 | -56.86 | 0.0 | 261.06 | 40.15 | 0.0 | 180.00 | 0 | 0.0 | -80.00 | 0 | 0.0 | 15.74 | 42.57 | 0.0 |
| 19Q2 (2) | 10.20 | -34.99 | 0.0 | -1.27 | -117.91 | 0.0 | 0.11 | -98.45 | 0.0 | 0.11 | -98.45 | 0.0 | 0.03 | -99.1 | 0.0 | 0.02 | -98.51 | 0.0 | 0.11 | -38.89 | 0.0 | 2.04 | -76.08 | 0.0 | 186.27 | 30.54 | 0.0 | 0.00 | -100.0 | 0.0 | 0.00 | 0 | 0.0 | 11.04 | 88.72 | 0.0 |
| 19Q1 (1) | 15.69 | 0.0 | 0.0 | 7.09 | 0.0 | 0.0 | 7.09 | 0.0 | 0.0 | 7.09 | 0.0 | 0.0 | 3.32 | 0.0 | 0.0 | 1.34 | 0.0 | 0.0 | 0.18 | 0.0 | 0.0 | 8.53 | 0.0 | 0.0 | 142.69 | 0.0 | 0.0 | 100.00 | 0.0 | 0.0 | -0.00 | 0.0 | 0.0 | 5.85 | 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) | 20.84 | -20.61 | 12.93 | -23.67 | 0.61 | -37.97 | 20.36 | 15.09 | 15.50 | 6.53 | 24.26 | 29.73 | 8.52 | 37.86 | 0.53 | 32.5 | 21.58 | 8.22 | 150.39 | -37.61 | 63.46 | -33.71 | 36.38 | 749.55 | 0.14 | 22.38 | 4.06 | -42.17 |
| 2022 (9) | 26.25 | 1.51 | 16.94 | 4.7 | 0.98 | -37.96 | 17.69 | 8.33 | 14.55 | 1.25 | 18.70 | -5.98 | 6.18 | -9.25 | 0.40 | -14.89 | 19.94 | 9.2 | 241.03 | 17.26 | 95.72 | -3.48 | 4.28 | 415.28 | 0.11 | -14.81 | 7.02 | -10.69 |
| 2021 (8) | 25.86 | 53.56 | 16.18 | 92.16 | 1.58 | 90.74 | 16.33 | 89.44 | 14.37 | 70.87 | 19.89 | 21.8 | 6.81 | 39.84 | 0.47 | -18.97 | 18.26 | 91.4 | 205.55 | 9.97 | 99.17 | 1.61 | 0.83 | -65.43 | 0.13 | -27.66 | 7.86 | 35.75 |
| 2020 (7) | 16.84 | 42.35 | 8.42 | 492.96 | 0.83 | -52.38 | 8.62 | 404.09 | 8.41 | 391.81 | 16.33 | 610.0 | 4.87 | 576.39 | 0.58 | 45.0 | 9.54 | 162.81 | 186.92 | -40.22 | 97.60 | 18.14 | 2.40 | -86.18 | 0.19 | -15.73 | 5.79 | -39.5 |
| 2019 (6) | 11.83 | 12.03 | 1.42 | 0 | 1.74 | -46.32 | 1.71 | 0 | 1.71 | 0 | 2.30 | 0 | 0.72 | 0 | 0.40 | -11.11 | 3.63 | 337.35 | 312.66 | 89.79 | 82.61 | -9.88 | 17.39 | 213.04 | 0.22 | -28.42 | 9.57 | -41.11 |
| 2018 (5) | 10.56 | 46.46 | -3.09 | 0 | 3.24 | 56.04 | -3.29 | 0 | -3.29 | 0 | -4.31 | 0 | -1.19 | 0 | 0.45 | -45.12 | 0.83 | -35.66 | 164.74 | -26.37 | 91.67 | 343.06 | 5.56 | -92.68 | 0.31 | 0 | 16.25 | 9.06 |
| 2017 (4) | 7.21 | 58.46 | -0.44 | 0 | 2.08 | -62.44 | -2.05 | 0 | -2.05 | 0 | -4.15 | 0 | -0.88 | 0 | 0.82 | 100.0 | 1.29 | 0 | 223.74 | 214.82 | 20.69 | -78.48 | 75.86 | 1872.41 | 0.00 | 0 | 14.90 | -47.92 |
| 2016 (3) | 4.55 | -74.52 | -13.85 | 0 | 5.54 | 25.19 | -14.47 | 0 | -14.50 | 0 | -10.32 | 0 | -5.41 | 0 | 0.41 | -37.88 | -7.20 | 0 | 71.07 | -3.96 | 96.15 | -12.59 | 3.85 | 0 | 0.00 | 0 | 28.61 | 17.25 |
| 2015 (2) | 17.86 | 59.04 | 4.30 | 0 | 4.42 | -25.67 | 3.85 | 0 | 3.72 | 0 | 4.44 | 0 | 3.38 | 838.89 | 0.66 | -1.49 | 10.14 | 37.03 | 74.00 | -21.44 | 110.00 | -73.6 | -10.00 | 0 | 0.00 | 0 | 24.40 | -17.34 |
| 2014 (1) | 11.23 | 0 | -4.07 | 0 | 5.95 | -2.2 | -0.99 | 0 | -1.19 | 0 | -1.58 | 0 | 0.36 | 0 | 0.67 | 15.52 | 7.40 | 0 | 94.20 | -8.89 | 416.67 | 345.26 | -316.67 | 0 | 0.00 | 0 | 29.52 | -3.87 |
