- 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) | 37.63 | -28.1 | -15.72 | -63.83 | -334.58 | -507.6 | -116.75 | -434.53 | -2906.49 | -141.29 | -610.26 | -4035.65 | -4.40 | -193.82 | -756.72 | -2.86 | -193.46 | -735.56 | 0.02 | -81.82 | -80.0 | -102.86 | -372.84 | -1642.13 | 50.87 | 1.78 | -28.35 | 53.66 | -30.86 | -86.2 | 46.34 | 106.99 | 116.04 | 140.72 | 332.98 | 384.24 |
| 23Q3 (19) | 52.34 | 68.68 | 28.32 | 27.21 | 125.23 | 72.22 | 34.90 | 148.9 | 12.4 | 27.69 | 138.74 | 7.79 | 4.69 | 253.77 | -49.73 | 3.06 | 269.06 | -35.31 | 0.11 | 266.67 | -38.89 | 37.70 | 161.58 | 16.14 | 49.98 | -21.86 | -44.32 | 77.61 | -48.75 | 52.87 | 22.39 | 143.53 | -54.52 | 32.50 | -74.1 | 60.02 |
| 23Q2 (18) | 31.03 | -29.09 | -16.27 | -107.84 | -4362.45 | -820.37 | -71.37 | -13116.67 | -431.03 | -71.47 | -13135.19 | -501.07 | -3.05 | -3712.5 | -140.5 | -1.81 | -4625.0 | -149.73 | 0.03 | -62.5 | -85.0 | -61.22 | -2182.31 | -371.0 | 63.96 | 8.33 | -42.61 | 151.43 | 137.86 | 118.24 | -51.43 | -110.29 | -268.0 | 125.50 | 247.65 | 579.11 |
| 23Q1 (17) | 43.76 | -1.99 | 7.73 | 2.53 | -83.84 | -84.17 | -0.54 | -112.98 | -102.15 | -0.54 | -115.04 | -102.37 | -0.08 | -111.94 | -100.94 | 0.04 | -91.11 | -98.99 | 0.08 | -20.0 | -52.94 | 2.94 | -55.92 | -88.92 | 59.04 | -16.85 | -45.88 | -400.00 | -202.86 | -733.33 | 500.00 | 273.08 | 1297.06 | 36.10 | 24.23 | 82.23 |
| 22Q4 (16) | 44.65 | 9.46 | 43.43 | 15.66 | -0.89 | 14.14 | 4.16 | -86.6 | -65.45 | 3.59 | -86.03 | -70.16 | 0.67 | -92.82 | -86.44 | 0.45 | -90.49 | -79.36 | 0.10 | -44.44 | -44.44 | 6.67 | -79.45 | -49.96 | 71.00 | -20.9 | -44.1 | 388.89 | 665.99 | 244.86 | -288.89 | -686.81 | -1839.68 | 29.06 | 43.08 | 53.43 |
| 22Q3 (15) | 40.79 | 10.06 | 58.28 | 15.80 | 5.54 | 357.97 | 31.05 | 44.02 | 914.71 | 25.69 | 44.16 | 739.54 | 9.33 | 23.9 | 882.11 | 4.73 | 29.95 | 906.38 | 0.18 | -10.0 | 38.46 | 32.46 | 43.69 | 565.16 | 89.76 | -19.46 | -35.81 | 50.77 | -26.83 | -54.31 | 49.23 | 60.82 | 543.08 | 20.31 | 9.9 | 3.68 |
| 22Q2 (14) | 37.06 | -8.76 | 28.28 | 14.97 | -6.32 | 528.99 | 21.56 | -13.97 | 445.51 | 17.82 | -21.81 | 385.12 | 7.53 | -11.1 | 576.58 | 3.64 | -7.85 | 696.72 | 0.20 | 17.65 | 81.82 | 22.59 | -14.85 | 686.75 | 111.45 | 2.16 | -18.69 | 69.39 | 9.86 | 273.47 | 30.61 | -14.47 | -77.04 | 18.48 | -6.71 | -23.06 |
| 22Q1 (13) | 40.62 | 30.49 | 55.87 | 15.98 | 16.47 | 36.7 | 25.06 | 108.14 | 110.06 | 22.79 | 89.44 | 103.85 | 8.47 | 71.46 | 37.06 | 3.95 | 81.19 | 56.75 | 0.17 | -5.56 | -22.73 | 26.53 | 99.02 | 103.61 | 109.09 | -14.12 | -19.26 | 63.16 | -43.99 | -34.66 | 35.79 | 340.3 | 2047.37 | 19.81 | 4.59 | 56.48 |
| 21Q4 (12) | 31.13 | 20.8 | 34.94 | 13.72 | 297.68 | 205.86 | 12.04 | 293.46 | 151.32 | 12.03 | 293.14 | 152.97 | 4.94 | 420.0 | 151.62 | 2.18 | 363.83 | 159.56 | 0.18 | 38.46 | 5.88 | 13.33 | 173.16 | 160.7 | 127.02 | -9.16 | -26.25 | 112.77 | 1.49 | 105.23 | -14.89 | -34.04 | -133.06 | 18.94 | -3.32 | 28.76 |
| 21Q3 (11) | 25.77 | -10.8 | 826.98 | 3.45 | 44.96 | 129.72 | 3.06 | 149.04 | 114.82 | 3.06 | 148.96 | 114.82 | 0.95 | 160.13 | 121.59 | 0.47 | 177.05 | 125.68 | 0.13 | 18.18 | 44.44 | 4.88 | 226.75 | 127.7 | 139.83 | 2.02 | 0.41 | 111.11 | 377.78 | 99.07 | -11.11 | -108.33 | -125.15 | 19.59 | -18.44 | -27.77 |
| 21Q2 (10) | 28.89 | 10.86 | 45.25 | 2.38 | -79.64 | -19.59 | -6.24 | -152.31 | -158.92 | -6.25 | -155.9 | -63.19 | -1.58 | -125.57 | -88.1 | -0.61 | -124.21 | -103.33 | 0.11 | -50.0 | 10.0 | -3.85 | -129.55 | -975.0 | 137.06 | 1.44 | 16.47 | -40.00 | -141.38 | 71.43 | 133.33 | 7900.0 | -44.44 | 24.02 | 89.73 | 0 |
| 21Q1 (9) | 26.06 | 12.96 | -12.7 | 11.69 | 190.2 | 16.2 | 11.93 | 150.85 | -1.97 | 11.18 | 149.23 | -6.6 | 6.18 | 164.58 | 67.93 | 2.52 | 168.85 | 36.22 | 0.22 | 29.41 | 46.67 | 13.03 | 159.34 | -7.92 | 135.12 | -21.55 | 26.03 | 96.67 | 75.93 | 17.81 | 1.67 | -96.3 | -90.71 | 12.66 | -13.94 | -39.22 |
| 20Q4 (8) | 23.07 | 729.86 | -24.93 | -12.96 | -11.63 | 35.59 | -23.46 | -13.61 | 33.65 | -22.71 | -9.98 | 35.96 | -9.57 | -117.5 | -46.55 | -3.66 | -100.0 | -22.82 | 0.17 | 88.89 | 88.89 | -21.96 | -24.63 | 31.63 | 172.23 | 23.68 | 48.67 | 54.95 | -1.56 | -4.2 | 45.05 | 1.97 | 5.65 | 14.71 | -45.76 | 0 |
| 20Q3 (7) | 2.78 | -86.02 | -90.6 | -11.61 | -492.23 | -923.4 | -20.65 | -756.85 | -1835.29 | -20.65 | -439.16 | -1994.5 | -4.40 | -423.81 | -2100.0 | -1.83 | -510.0 | -1015.0 | 0.09 | -10.0 | -10.0 | -17.62 | -4104.55 | -576.22 | 139.26 | 18.34 | 29.26 | 55.81 | 139.87 | -44.19 | 44.19 | -81.59 | 0 | 27.12 | 0 | -13.35 |
| 20Q2 (6) | 19.89 | -33.37 | -30.24 | 2.96 | -70.58 | -63.9 | -2.41 | -119.8 | -124.97 | -3.83 | -132.0 | -139.69 | -0.84 | -122.83 | -116.15 | -0.30 | -116.22 | -113.16 | 0.10 | -33.33 | -56.52 | 0.44 | -96.89 | -95.9 | 117.68 | 9.77 | 4.88 | -140.00 | -270.62 | -263.83 | 240.00 | 1237.14 | 1550.0 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 29.85 | -2.86 | 0.54 | 10.06 | 150.0 | -36.81 | 12.17 | 134.42 | -25.15 | 11.97 | 133.76 | -26.25 | 3.68 | 156.36 | -72.25 | 1.85 | 162.08 | -60.47 | 0.15 | 66.67 | -46.43 | 14.15 | 144.05 | -18.72 | 107.21 | -7.46 | -35.15 | 82.05 | 43.06 | -15.98 | 17.95 | -57.91 | 665.81 | 20.83 | 0 | 94.67 |
| 19Q4 (4) | 30.73 | 3.92 | 0.0 | -20.12 | -1526.95 | 0.0 | -35.36 | -3071.43 | 0.0 | -35.46 | -3353.21 | 0.0 | -6.53 | -3068.18 | 0.0 | -2.98 | -1590.0 | 0.0 | 0.09 | -10.0 | 0.0 | -32.12 | -968.11 | 0.0 | 115.85 | 7.53 | 0.0 | 57.35 | -42.65 | 0.0 | 42.65 | 0 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 29.57 | 3.72 | 0.0 | 1.41 | -82.8 | 0.0 | 1.19 | -87.67 | 0.0 | 1.09 | -88.7 | 0.0 | 0.22 | -95.77 | 0.0 | 0.20 | -91.23 | 0.0 | 0.10 | -56.52 | 0.0 | 3.70 | -65.49 | 0.0 | 107.74 | -3.98 | 0.0 | 100.00 | 17.02 | 0.0 | -0.00 | -100.0 | 0.0 | 31.30 | 139.66 | 0.0 |
| 19Q2 (2) | 28.51 | -3.97 | 0.0 | 8.20 | -48.49 | 0.0 | 9.65 | -40.65 | 0.0 | 9.65 | -40.54 | 0.0 | 5.20 | -60.78 | 0.0 | 2.28 | -51.28 | 0.0 | 0.23 | -17.86 | 0.0 | 10.72 | -38.43 | 0.0 | 112.20 | -32.14 | 0.0 | 85.45 | -12.49 | 0.0 | 14.55 | 520.61 | 0.0 | 13.06 | 22.06 | 0.0 |
| 19Q1 (1) | 29.69 | 0.0 | 0.0 | 15.92 | 0.0 | 0.0 | 16.26 | 0.0 | 0.0 | 16.23 | 0.0 | 0.0 | 13.26 | 0.0 | 0.0 | 4.68 | 0.0 | 0.0 | 0.28 | 0.0 | 0.0 | 17.41 | 0.0 | 0.0 | 165.33 | 0.0 | 0.0 | 97.66 | 0.0 | 0.0 | 2.34 | 0.0 | 0.0 | 10.70 | 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) | 45.54 | 13.31 | -4.36 | 0 | 2.69 | 205.69 | -2.37 | 0 | -7.40 | 0 | -2.85 | 0 | -1.47 | 0 | 0.24 | -65.22 | 2.47 | -89.7 | 50.87 | -28.35 | 172.73 | 149.33 | -81.82 | 0 | 0.60 | 24.94 | 52.71 | 151.6 |
| 2022 (9) | 40.19 | 44.21 | 15.57 | 72.43 | 0.88 | 3.35 | 22.49 | 214.99 | 19.15 | 178.75 | 25.88 | 146.71 | 13.50 | 201.34 | 0.69 | 13.11 | 23.97 | 176.79 | 71.00 | -44.1 | 69.28 | -44.91 | 30.72 | 0 | 0.48 | 253.54 | 20.95 | 18.43 |
| 2021 (8) | 27.87 | 35.29 | 9.03 | 0 | 0.85 | -18.95 | 7.14 | 0 | 6.87 | 0 | 10.49 | 0 | 4.48 | 0 | 0.61 | 22.0 | 8.66 | 0 | 127.02 | -26.25 | 125.74 | 252.78 | -26.73 | 0 | 0.14 | 223.95 | 17.69 | -15.24 |
| 2020 (7) | 20.60 | -29.96 | -3.13 | 0 | 1.05 | 32.55 | -8.83 | 0 | -8.92 | 0 | -10.77 | 0 | -4.06 | 0 | 0.50 | -28.57 | -6.65 | 0 | 172.23 | 48.67 | 35.64 | -69.34 | 64.36 | 0 | 0.04 | -69.33 | 20.87 | 30.68 |
| 2019 (6) | 29.41 | 20.19 | 7.71 | 112.98 | 0.79 | -54.84 | 6.63 | 20.99 | 6.60 | 20.44 | 12.17 | 23.93 | 5.01 | 30.13 | 0.70 | 11.11 | 8.15 | -1.33 | 115.85 | -46.16 | 116.24 | 74.36 | -16.24 | 0 | 0.14 | -2.96 | 15.97 | -4.37 |
| 2018 (5) | 24.47 | 9.98 | 3.62 | 0 | 1.76 | -43.06 | 5.48 | 0 | 5.48 | 0 | 9.82 | 0 | 3.85 | 0 | 0.63 | 21.15 | 8.26 | 0 | 215.16 | 39.42 | 66.67 | 9.96 | 34.52 | -12.31 | 0.14 | 0 | 16.70 | -27.49 |
| 2017 (4) | 22.25 | -2.24 | -7.40 | 0 | 3.08 | 8.44 | -12.24 | 0 | -12.41 | 0 | -14.69 | 0 | -6.06 | 0 | 0.52 | -26.76 | -7.80 | 0 | 154.32 | 50.6 | 60.63 | -89.9 | 39.37 | 0 | 0.00 | 0 | 23.03 | 49.06 |
| 2016 (3) | 22.76 | -21.3 | 3.87 | -28.99 | 2.84 | -42.92 | 0.64 | -87.62 | 0.58 | -88.78 | 0.88 | -84.91 | 0.88 | -72.41 | 0.71 | 33.96 | 4.55 | -61.18 | 102.47 | -16.95 | 600.00 | 467.86 | -500.00 | 0 | 0.00 | 0 | 15.45 | -28.04 |
| 2015 (2) | 28.92 | 17.37 | 5.45 | 0 | 4.98 | -23.11 | 5.17 | 0 | 5.17 | 0 | 5.83 | 0 | 3.19 | 0 | 0.53 | 17.78 | 11.72 | 148.31 | 123.38 | 20.61 | 105.66 | -16.01 | -5.66 | 0 | 0.00 | 0 | 21.47 | -21.04 |
| 2014 (1) | 24.64 | 0 | -5.23 | 0 | 6.48 | -35.22 | -4.15 | 0 | -4.93 | 0 | -4.05 | 0 | -1.88 | 0 | 0.45 | 66.67 | 4.72 | 0 | 102.30 | 57.97 | 125.81 | 33.99 | -25.81 | 0 | 0.00 | 0 | 27.19 | -36.55 |
