- 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) | 53.41 | 26.41 | 4.89 | -6.24 | 82.78 | -488.68 | -8.52 | 79.89 | -380.26 | -8.58 | 79.78 | -490.0 | -3.42 | 74.21 | -273.6 | -0.84 | 75.37 | -244.83 | 0.12 | 33.33 | -14.29 | 15.52 | 815.21 | -47.28 | 187.77 | -32.21 | -65.13 | 70.00 | -18.8 | 345.0 | 25.00 | 81.25 | -80.56 | 32.66 | -16.73 | 25.76 |
| 23Q3 (19) | 42.25 | -5.48 | 27.57 | -36.24 | -33.97 | 27.35 | -42.36 | -76.13 | 5.11 | -42.44 | -76.83 | 4.59 | -13.26 | -41.21 | 38.67 | -3.41 | -82.35 | -7.23 | 0.09 | 0.0 | 12.5 | -2.17 | -113.59 | -397.26 | 276.99 | 11.17 | -52.52 | 86.21 | -22.63 | -22.67 | 13.79 | 220.69 | 220.2 | 39.22 | 5.6 | -1.9 |
| 23Q2 (18) | 44.70 | -9.84 | 100.63 | -27.05 | -905.58 | 73.28 | -24.05 | -3069.14 | 76.92 | -24.00 | -2923.53 | 76.92 | -9.39 | -1422.54 | 62.29 | -1.87 | -579.49 | 58.63 | 0.09 | -35.71 | 80.0 | 15.97 | -42.14 | 152.83 | 249.17 | -49.48 | -47.84 | 111.43 | 137.14 | 13.99 | -11.43 | -102.86 | -439.05 | 37.14 | 21.77 | -40.65 |
| 23Q1 (17) | 49.58 | -2.63 | 3.18 | -2.69 | -153.77 | 84.26 | 0.81 | -73.36 | -95.92 | 0.85 | -61.36 | -95.76 | 0.71 | -63.96 | -93.16 | 0.39 | -32.76 | -82.82 | 0.14 | 0.0 | 40.0 | 27.60 | -6.25 | -47.17 | 493.20 | -8.4 | 31.31 | -300.00 | -950.0 | -252.94 | 400.00 | 211.11 | 116.22 | 30.50 | 17.44 | -12.51 |
| 22Q4 (16) | 50.92 | 53.74 | 2.48 | -1.06 | 97.87 | 93.57 | 3.04 | 106.81 | 103.95 | 2.20 | 104.95 | 102.87 | 1.97 | 109.11 | 105.93 | 0.58 | 118.24 | 109.19 | 0.14 | 75.0 | 55.56 | 29.44 | 3932.88 | 183.92 | 538.43 | -7.71 | 16.69 | -28.57 | -125.63 | -231.25 | 128.57 | 1220.41 | 62.93 | 25.97 | -35.04 | -7.84 |
| 22Q3 (15) | 33.12 | 48.65 | 176.61 | -49.88 | 50.73 | 88.19 | -44.64 | 57.16 | 90.01 | -44.48 | 57.22 | 90.02 | -21.62 | 13.17 | 7.53 | -3.18 | 29.65 | 39.54 | 0.08 | 60.0 | 700.0 | 0.73 | 102.41 | 100.54 | 583.41 | 22.13 | 59.27 | 111.48 | 14.04 | 18.39 | -11.48 | -440.44 | -296.52 | 39.98 | -36.11 | -66.92 |
| 22Q2 (14) | 22.28 | -53.63 | -17.33 | -101.23 | -492.33 | 12.25 | -104.21 | -625.25 | 27.35 | -103.97 | -618.55 | 29.43 | -24.90 | -339.88 | -16.57 | -4.52 | -299.12 | 19.57 | 0.05 | -50.0 | 25.0 | -30.23 | -157.87 | 35.91 | 477.70 | 27.19 | 62.73 | 97.75 | 215.0 | 21.59 | 3.37 | -98.18 | -82.81 | 62.58 | 79.52 | 1.25 |
| 22Q1 (13) | 48.05 | -3.3 | -4.21 | -17.09 | -3.7 | -20.61 | 19.84 | 125.8 | 256.34 | 20.05 | 126.12 | 275.72 | 10.38 | 131.23 | 364.8 | 2.27 | 135.97 | 346.74 | 0.10 | 11.11 | 0.0 | 52.24 | 248.92 | 122.2 | 375.59 | -18.6 | 54.48 | -85.00 | -490.47 | -176.5 | 185.00 | 134.44 | 1765.0 | 34.86 | 23.7 | 3.2 |
| 21Q4 (12) | 49.69 | 214.94 | -16.46 | -16.48 | 96.1 | -249.01 | -76.90 | 82.8 | -2480.54 | -76.75 | 82.78 | -1693.22 | -33.24 | -42.17 | -1622.28 | -6.31 | -19.96 | -1605.41 | 0.09 | 800.0 | -30.77 | -35.08 | 74.11 | -243.65 | 461.42 | 25.97 | 81.61 | 21.77 | -76.88 | 105.57 | 78.91 | 1251.36 | -83.93 | 28.18 | -76.68 | 29.44 |
| 21Q3 (11) | -43.23 | -260.41 | -194.27 | -422.26 | -266.04 | -1033.28 | -447.03 | -211.65 | -1156.06 | -445.73 | -202.54 | -1312.33 | -23.38 | -9.46 | -209.67 | -5.26 | 6.41 | -140.18 | 0.01 | -75.0 | -87.5 | -135.48 | -187.22 | -1135.78 | 366.30 | 24.78 | 61.61 | 94.16 | 17.13 | -10.55 | 5.84 | -70.22 | 210.95 | 120.86 | 95.53 | 210.93 |
| 21Q2 (10) | 26.95 | -46.27 | 163.7 | -115.36 | -714.11 | 36.27 | -143.44 | -1030.34 | 59.85 | -147.33 | -1191.24 | 56.96 | -21.36 | -444.9 | 24.01 | -5.62 | -510.87 | 44.25 | 0.04 | -60.0 | 33.33 | -47.17 | -300.64 | 80.16 | 293.56 | 20.74 | 42.72 | 80.39 | -27.65 | 58.8 | 19.61 | 276.47 | -60.29 | 61.81 | 82.98 | 0 |
| 21Q1 (9) | 50.16 | -15.67 | 0.58 | -14.17 | -228.12 | 36.29 | -12.69 | -325.84 | 42.58 | -11.41 | -166.59 | 36.47 | -3.92 | -103.11 | 0.51 | -0.92 | -148.65 | 32.35 | 0.10 | -23.08 | 11.11 | 23.51 | -3.73 | 57.26 | 243.13 | -4.31 | 62.0 | 111.11 | 128.42 | 11.11 | -11.11 | -102.26 | 0 | 33.78 | 55.17 | -8.21 |
| 20Q4 (8) | 59.48 | 29.7 | 1.12 | 11.06 | 129.68 | 64.34 | -2.98 | 91.63 | 63.66 | -4.28 | 86.44 | 62.62 | -1.93 | 74.44 | 39.88 | -0.37 | 83.11 | 65.74 | 0.13 | 62.5 | 18.18 | 24.42 | 86.7 | 23.4 | 254.07 | 12.1 | 56.92 | -390.91 | -471.36 | -384.73 | 490.91 | 9427.27 | 171.75 | 21.77 | -43.99 | 0 |
| 20Q3 (7) | 45.86 | 348.73 | 4.25 | -37.26 | 79.41 | 26.52 | -35.59 | 90.04 | 25.29 | -31.56 | 90.78 | 25.34 | -7.55 | 73.14 | -20.03 | -2.19 | 78.27 | 11.34 | 0.08 | 166.67 | 33.33 | 13.08 | 105.5 | 1008.33 | 226.65 | 10.19 | 53.47 | 105.26 | 107.93 | -0.75 | -5.26 | -110.66 | 13.16 | 38.87 | 0 | -17.74 |
| 20Q2 (6) | 10.22 | -79.51 | -80.05 | -181.00 | -713.85 | -577.9 | -357.25 | -1516.52 | -1339.94 | -342.27 | -1805.73 | -1609.64 | -28.11 | -613.45 | -739.1 | -10.08 | -641.18 | -663.64 | 0.03 | -66.67 | -57.14 | -237.78 | -1690.5 | -1865.26 | 205.69 | 37.05 | 58.08 | 50.62 | -49.38 | -52.49 | 49.38 | 0 | 702.38 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 49.87 | -15.22 | -11.47 | -22.24 | -430.46 | -1281.37 | -22.10 | -169.51 | -7229.03 | -17.96 | -56.86 | -12073.33 | -3.94 | -22.74 | -9950.0 | -1.36 | -25.93 | -718.18 | 0.09 | -18.18 | -30.77 | 14.95 | -24.46 | -44.57 | 150.08 | -7.31 | 21.17 | 100.00 | 224.0 | 116.67 | -0.00 | -100.0 | -100.0 | 36.80 | 0 | 15.51 |
| 19Q4 (4) | 58.82 | 33.71 | 0.0 | 6.73 | 113.27 | 0.0 | -8.20 | 82.79 | 0.0 | -11.45 | 72.91 | 0.0 | -3.21 | 48.97 | 0.0 | -1.08 | 56.28 | 0.0 | 0.11 | 83.33 | 0.0 | 19.79 | 1474.31 | 0.0 | 161.91 | 9.64 | 0.0 | -80.65 | -176.04 | 0.0 | 180.65 | 3080.65 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 43.99 | -14.13 | 0.0 | -50.71 | -89.93 | 0.0 | -47.64 | -92.02 | 0.0 | -42.27 | -111.14 | 0.0 | -6.29 | -87.76 | 0.0 | -2.47 | -87.12 | 0.0 | 0.06 | -14.29 | 0.0 | -1.44 | -110.69 | 0.0 | 147.68 | 13.5 | 0.0 | 106.06 | -0.47 | 0.0 | -6.06 | 26.06 | 0.0 | 47.25 | 21.65 | 0.0 |
| 19Q2 (2) | 51.23 | -9.05 | 0.0 | -26.70 | -1558.39 | 0.0 | -24.81 | -8103.23 | 0.0 | -20.02 | -13446.67 | 0.0 | -3.35 | -8475.0 | 0.0 | -1.32 | -700.0 | 0.0 | 0.07 | -46.15 | 0.0 | 13.47 | -50.06 | 0.0 | 130.12 | 5.05 | 0.0 | 106.56 | 117.76 | 0.0 | -8.20 | -101.17 | 0.0 | 38.84 | 21.91 | 0.0 |
| 19Q1 (1) | 56.33 | 0.0 | 0.0 | -1.61 | 0.0 | 0.0 | 0.31 | 0.0 | 0.0 | 0.15 | 0.0 | 0.0 | 0.04 | 0.0 | 0.0 | 0.22 | 0.0 | 0.0 | 0.13 | 0.0 | 0.0 | 26.97 | 0.0 | 0.0 | 123.86 | 0.0 | 0.0 | -600.00 | 0.0 | 0.0 | 700.00 | 0.0 | 0.0 | 31.86 | 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) | 48.46 | 13.84 | -14.88 | 0 | 26.70 | -19.15 | -15.10 | 0 | -15.12 | 0 | -21.91 | 0 | -4.88 | 0 | 0.38 | 8.57 | 15.94 | -29.56 | 187.77 | -65.13 | 98.20 | -46.81 | 1.80 | 0 | 16.13 | -24.02 | 34.12 | -6.32 |
| 2022 (9) | 42.57 | 3.03 | -29.31 | 0 | 33.03 | -40.28 | -15.83 | 0 | -16.00 | 0 | -33.01 | 0 | -4.50 | 0 | 0.35 | 45.83 | 22.63 | 0 | 538.43 | 16.69 | 184.62 | 169.52 | -84.62 | 0 | 21.22 | 23.03 | 36.42 | -11.71 |
| 2021 (8) | 41.32 | -15.9 | -52.84 | 0 | 55.30 | 43.28 | -77.11 | 0 | -77.08 | 0 | -77.73 | 0 | -17.70 | 0 | 0.24 | -20.0 | -15.17 | 0 | 461.42 | 81.61 | 68.50 | 22.88 | 31.50 | -28.82 | 17.25 | 28.48 | 41.25 | 15.09 |
| 2020 (7) | 49.13 | -8.83 | -27.02 | 0 | 38.60 | 32.35 | -48.47 | 0 | -45.51 | 0 | -40.90 | 0 | -13.02 | 0 | 0.30 | -28.57 | -5.06 | 0 | 254.07 | 56.92 | 55.74 | -30.23 | 44.26 | 120.11 | 13.43 | -15.53 | 35.84 | 8.31 |
| 2019 (6) | 53.89 | 14.17 | -12.80 | 0 | 29.16 | 217.15 | -16.01 | 0 | -15.15 | 0 | -12.92 | 0 | -5.56 | 0 | 0.42 | -32.26 | 16.99 | 30.19 | 161.91 | 223.37 | 79.89 | 0 | 20.11 | -95.7 | 15.90 | -40.13 | 33.09 | 14.86 |
| 2018 (5) | 47.20 | 32.14 | -7.67 | 0 | 9.20 | 33.11 | 2.11 | 0 | 1.66 | 0 | 1.63 | 0 | 1.26 | 0 | 0.62 | -7.46 | 13.05 | 0 | 50.07 | -26.18 | -364.52 | 0 | 467.74 | 0 | 26.55 | 0 | 28.81 | 12.67 |
| 2017 (4) | 35.72 | 176.26 | -8.83 | 0 | 6.91 | 116.52 | -8.16 | 0 | -6.81 | 0 | -7.13 | 0 | -4.37 | 0 | 0.67 | 4.69 | 0.00 | 0 | 67.83 | 69.79 | 108.40 | 30.08 | -8.40 | 0 | 0.00 | 0 | 25.57 | 114.87 |
| 2016 (3) | 12.93 | 136.81 | -2.95 | 0 | 3.19 | 21.08 | -3.48 | 0 | -3.53 | 0 | -3.65 | 0 | -2.07 | 0 | 0.64 | -14.67 | 0.50 | 0 | 39.95 | -54.11 | 83.33 | -30.04 | 14.29 | 0 | 0.00 | 0 | 11.90 | -5.18 |
| 2015 (2) | 5.46 | -47.65 | -5.33 | 0 | 2.64 | 82.56 | -4.51 | 0 | -3.66 | 0 | -5.10 | 0 | -2.36 | 0 | 0.75 | -25.0 | -1.25 | 0 | 87.06 | 4.61 | 119.12 | 28.57 | -17.65 | 0 | 0.00 | 0 | 12.55 | 38.98 |
| 2014 (1) | 10.43 | 0 | 2.85 | 0 | 1.44 | 29.86 | 3.06 | 0 | 2.08 | 0 | 4.14 | 0 | 2.41 | 0 | 1.00 | -9.09 | 4.92 | 37.05 | 83.22 | -27.83 | 92.65 | -29.01 | 7.35 | 0 | 0.00 | 0 | 9.03 | 26.47 |
