- 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) | 20.84 | 6.16 | 14.13 | 1.00 | 170.27 | 198.04 | 2.09 | -50.12 | 1507.69 | 2.09 | -39.6 | 97.17 | 0.81 | -40.0 | 102.5 | 0.46 | -36.11 | 76.92 | 0.19 | 0.0 | 26.67 | 3.83 | -37.93 | 46.18 | 98.14 | -5.0 | -27.36 | 47.37 | 450.2 | 105.57 | 51.32 | -43.85 | -94.6 | 13.21 | 1.46 | 2.72 |
| 23Q3 (19) | 19.63 | -4.24 | 123.27 | 0.37 | -69.17 | 100.3 | 4.19 | -4.77 | 103.35 | 3.46 | 4.85 | 102.96 | 1.35 | 18.42 | 104.9 | 0.72 | 18.03 | 106.28 | 0.19 | 11.76 | 90.0 | 6.17 | -2.99 | 105.04 | 103.30 | 2.65 | -34.28 | 8.61 | -68.12 | -91.35 | 91.39 | 26.47 | 19274.83 | 13.02 | 3.42 | -56.01 |
| 23Q2 (18) | 20.50 | 8.87 | -39.47 | 1.20 | 9.09 | 79.1 | 4.40 | 127.98 | -29.82 | 3.30 | 112.9 | 32.0 | 1.14 | 103.57 | 78.12 | 0.61 | 79.41 | 79.41 | 0.17 | 6.25 | 30.77 | 6.36 | 59.0 | -20.2 | 100.63 | -5.12 | -19.7 | 27.01 | -52.16 | 156.57 | 72.26 | 65.94 | -18.8 | 12.59 | 2.52 | -52.02 |
| 23Q1 (17) | 18.83 | 3.12 | -52.45 | 1.10 | 207.84 | -93.63 | 1.93 | 1384.62 | -91.61 | 1.55 | 46.23 | -91.65 | 0.56 | 40.0 | -89.04 | 0.34 | 30.77 | -87.86 | 0.16 | 6.67 | 6.67 | 4.00 | 52.67 | -83.26 | 106.06 | -21.5 | 31.12 | 56.45 | 106.64 | -24.93 | 43.55 | -95.42 | 75.57 | 12.28 | -4.51 | -31.97 |
| 22Q4 (16) | 18.26 | 121.65 | -63.21 | -1.02 | 99.18 | -103.27 | 0.13 | 100.1 | -99.6 | 1.06 | 100.91 | -95.55 | 0.40 | 101.45 | -96.12 | 0.26 | 102.27 | -95.45 | 0.15 | 50.0 | -37.5 | 2.62 | 102.14 | -92.09 | 135.10 | -14.05 | 57.81 | -850.00 | -954.03 | -984.02 | 950.00 | 201300.0 | 24586.43 | 12.86 | -56.55 | -4.03 |
| 22Q3 (15) | -84.35 | -349.04 | -254.91 | -124.63 | -18701.49 | -423.38 | -125.23 | -2097.29 | -426.63 | -116.87 | -4774.8 | -501.2 | -27.57 | -4407.81 | -274.27 | -11.47 | -3473.53 | -218.86 | 0.10 | -23.08 | -69.7 | -122.36 | -1635.26 | -415.44 | 157.19 | 25.43 | 106.72 | 99.53 | 845.52 | -1.01 | 0.47 | -99.47 | 194.54 | 29.60 | 12.8 | 137.75 |
| 22Q2 (14) | 33.87 | -14.47 | -32.76 | 0.67 | -96.12 | -98.1 | 6.27 | -72.73 | -84.93 | 2.50 | -86.53 | -93.13 | 0.64 | -87.48 | -97.01 | 0.34 | -87.86 | -97.53 | 0.13 | -13.33 | -65.79 | 7.97 | -66.64 | -81.05 | 125.32 | 54.93 | 147.52 | 10.53 | -86.0 | -87.6 | 89.00 | 258.79 | 490.27 | 26.24 | 45.37 | 149.67 |
| 22Q1 (13) | 39.60 | -20.21 | 5.77 | 17.28 | -44.69 | -18.8 | 22.99 | -29.24 | 2.22 | 18.56 | -22.08 | -3.53 | 5.11 | -50.48 | -49.61 | 2.80 | -51.05 | -55.91 | 0.15 | -37.5 | -54.55 | 23.89 | -27.87 | 3.51 | 80.89 | -5.51 | 30.93 | 75.20 | -21.79 | -20.5 | 24.80 | 544.56 | 357.71 | 18.05 | 34.7 | 55.2 |
| 21Q4 (12) | 49.63 | -8.85 | 57.06 | 31.24 | -18.94 | 119.38 | 32.49 | -15.26 | 118.49 | 23.82 | -18.23 | 84.79 | 10.32 | -34.77 | 40.03 | 5.72 | -40.73 | 24.89 | 0.24 | -27.27 | -31.43 | 33.12 | -14.62 | 114.79 | 85.61 | 12.59 | 47.5 | 96.15 | -4.37 | 0.38 | 3.85 | 871.26 | -8.64 | 13.40 | 7.63 | 35.76 |
| 21Q3 (11) | 54.45 | 8.1 | 155.04 | 38.54 | 9.12 | 515.65 | 38.34 | -7.84 | 426.65 | 29.13 | -19.91 | 314.96 | 15.82 | -26.11 | 348.16 | 9.65 | -29.92 | 323.25 | 0.33 | -13.16 | 0.0 | 38.79 | -7.75 | 391.63 | 76.04 | 50.19 | 17.76 | 100.54 | 18.39 | 16.95 | -0.50 | -103.31 | -103.56 | 12.45 | 18.46 | 28.09 |
| 21Q2 (10) | 50.37 | 34.54 | 127.3 | 35.32 | 65.98 | 810.31 | 41.60 | 84.97 | 747.25 | 36.37 | 89.03 | 896.44 | 21.41 | 111.14 | 1585.83 | 13.77 | 116.85 | 1501.16 | 0.38 | 15.15 | 65.22 | 42.05 | 82.19 | 627.51 | 50.63 | -18.05 | 11.23 | 84.92 | -10.21 | 7.94 | 15.08 | 178.21 | -29.29 | 10.51 | -9.63 | 0 |
| 21Q1 (9) | 37.44 | 18.48 | 70.26 | 21.28 | 49.44 | 775.72 | 22.49 | 51.24 | 537.11 | 19.24 | 49.26 | 843.14 | 10.14 | 37.58 | 1252.0 | 6.35 | 38.65 | 1145.1 | 0.33 | -5.71 | 32.0 | 23.08 | 49.68 | 357.03 | 61.78 | 6.44 | 22.36 | 94.58 | -1.26 | 37.21 | 5.42 | 28.66 | -82.56 | 11.63 | 17.83 | -7.7 |
| 20Q4 (8) | 31.60 | 48.01 | 57.68 | 14.24 | 127.48 | 6091.3 | 14.87 | 104.26 | 754.6 | 12.89 | 83.62 | 616.11 | 7.37 | 108.78 | 1033.85 | 4.58 | 100.88 | 917.78 | 0.35 | 6.06 | 40.0 | 15.42 | 95.44 | 454.68 | 58.04 | -10.11 | 15.76 | 95.79 | 11.42 | 682.27 | 4.21 | -69.97 | -95.2 | 9.87 | 1.54 | -15.13 |
| 20Q3 (7) | 21.35 | -3.66 | -7.89 | 6.26 | 61.34 | 545.36 | 7.28 | 48.27 | 132.59 | 7.02 | 92.33 | 148.06 | 3.53 | 177.95 | 279.57 | 2.28 | 165.12 | 235.29 | 0.33 | 43.48 | 37.5 | 7.89 | 36.51 | 79.73 | 64.57 | 41.85 | 62.15 | 85.97 | 9.27 | 178.55 | 14.03 | -34.21 | -79.71 | 9.72 | 0 | -32.83 |
| 20Q2 (6) | 22.16 | 0.77 | -3.32 | 3.88 | 59.67 | 156.4 | 4.91 | 39.09 | 191.6 | 3.65 | 78.92 | 157.66 | 1.27 | 69.33 | 173.84 | 0.86 | 68.63 | 167.19 | 0.23 | -8.0 | 15.0 | 5.78 | 14.46 | 256.64 | 45.52 | -9.84 | 31.11 | 78.68 | 14.14 | -38.45 | 21.32 | -31.36 | 176.63 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 21.99 | 9.73 | 4.91 | 2.43 | 956.52 | 117.72 | 3.53 | 102.87 | 129.66 | 2.04 | 13.33 | 117.26 | 0.75 | 15.38 | 130.99 | 0.51 | 13.33 | 129.14 | 0.25 | 0.0 | 66.67 | 5.05 | 81.65 | 151.74 | 50.49 | 0.7 | 45.63 | 68.93 | 462.94 | -40.26 | 31.07 | -64.6 | 301.94 | 12.60 | 8.34 | -46.75 |
| 19Q4 (4) | 20.04 | -13.55 | 0.0 | 0.23 | -76.29 | 0.0 | 1.74 | -44.41 | 0.0 | 1.80 | -36.4 | 0.0 | 0.65 | -30.11 | 0.0 | 0.45 | -33.82 | 0.0 | 0.25 | 4.17 | 0.0 | 2.78 | -36.67 | 0.0 | 50.14 | 25.92 | 0.0 | 12.24 | -60.33 | 0.0 | 87.76 | 26.93 | 0.0 | 11.63 | -19.63 | 0.0 |
| 19Q3 (3) | 23.18 | 1.13 | 0.0 | 0.97 | 114.1 | 0.0 | 3.13 | 158.4 | 0.0 | 2.83 | 144.71 | 0.0 | 0.93 | 154.07 | 0.0 | 0.68 | 153.12 | 0.0 | 0.24 | 20.0 | 0.0 | 4.39 | 218.97 | 0.0 | 39.82 | 14.69 | 0.0 | 30.86 | -75.85 | 0.0 | 69.14 | 348.46 | 0.0 | 14.47 | -19.25 | 0.0 |
| 19Q2 (2) | 22.92 | 9.35 | 0.0 | -6.88 | 49.82 | 0.0 | -5.36 | 54.96 | 0.0 | -6.33 | 46.45 | 0.0 | -1.72 | 28.93 | 0.0 | -1.28 | 26.86 | 0.0 | 0.20 | 33.33 | 0.0 | -3.69 | 62.19 | 0.0 | 34.72 | 0.14 | 0.0 | 127.83 | 10.78 | 0.0 | -27.83 | -80.87 | 0.0 | 17.92 | -24.26 | 0.0 |
| 19Q1 (1) | 20.96 | 0.0 | 0.0 | -13.71 | 0.0 | 0.0 | -11.90 | 0.0 | 0.0 | -11.82 | 0.0 | 0.0 | -2.42 | 0.0 | 0.0 | -1.75 | 0.0 | 0.0 | 0.15 | 0.0 | 0.0 | -9.76 | 0.0 | 0.0 | 34.67 | 0.0 | 0.0 | 115.38 | 0.0 | 0.0 | -15.38 | 0.0 | 0.0 | 23.66 | 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) | 19.96 | 101.62 | 0.90 | 0 | 0.84 | -9.33 | 3.14 | 0 | 2.60 | 0 | 3.89 | 0 | 2.03 | 0 | 0.69 | 23.21 | 5.06 | 0 | 98.14 | -27.36 | 28.87 | -76.57 | 71.13 | 0 | 7.33 | 17.38 | 12.79 | -38.86 |
| 2022 (9) | 9.90 | -79.71 | -17.71 | 0 | 0.93 | 136.95 | -14.37 | 0 | -14.90 | 0 | -17.15 | 0 | -8.18 | 0 | 0.56 | -52.14 | -12.49 | 0 | 135.10 | 57.81 | 123.21 | 31.39 | -23.27 | 0 | 6.24 | 23.13 | 20.92 | 74.04 |
| 2021 (8) | 48.79 | 96.34 | 32.42 | 334.0 | 0.39 | -29.91 | 34.57 | 312.53 | 27.72 | 288.78 | 56.82 | 348.82 | 32.42 | 293.92 | 1.17 | 1.74 | 35.10 | 280.69 | 85.61 | 47.5 | 93.78 | 5.24 | 6.22 | -42.87 | 5.07 | -51.87 | 12.02 | 11.19 |
| 2020 (7) | 24.85 | 14.2 | 7.47 | 0 | 0.56 | -36.9 | 8.38 | 0 | 7.13 | 0 | 12.66 | 0 | 8.23 | 0 | 1.15 | 43.75 | 9.22 | 0 | 58.04 | 15.76 | 89.11 | -52.96 | 10.89 | 0 | 10.53 | -8.54 | 10.81 | -32.65 |
| 2019 (6) | 21.76 | 38.16 | -3.72 | 0 | 0.88 | 34.94 | -1.97 | 0 | -2.25 | 0 | -2.60 | 0 | -1.79 | 0 | 0.80 | 0.0 | -0.52 | 0 | 50.14 | 25.7 | 189.44 | 602.77 | -88.89 | 0 | 11.51 | -6.12 | 16.05 | 2.23 |
| 2018 (5) | 15.75 | -25.07 | -6.81 | 0 | 0.66 | 50.55 | -25.24 | 0 | -25.08 | 0 | -26.44 | 0 | -20.02 | 0 | 0.80 | 5.26 | -23.90 | 0 | 39.89 | 53.01 | 26.96 | -66.05 | 73.04 | 254.78 | 12.27 | -51.82 | 15.70 | 13.11 |
| 2017 (4) | 21.02 | 2.19 | 1.50 | -20.21 | 0.44 | -9.51 | 1.89 | -14.09 | -0.96 | 0 | -0.93 | 0 | -0.67 | 0 | 0.76 | 4.11 | 3.06 | -6.42 | 26.07 | -15.25 | 79.41 | -7.16 | 20.59 | 46.54 | 25.46 | 0 | 13.88 | 10.77 |
| 2016 (3) | 20.57 | 20.01 | 1.88 | 0 | 0.48 | -21.11 | 2.20 | -2.22 | 1.91 | -13.18 | 1.83 | -32.72 | 1.44 | -37.12 | 0.73 | -25.51 | 3.27 | -3.25 | 30.76 | -2.16 | 85.54 | 0 | 14.05 | -90.79 | 0.00 | 0 | 12.53 | 1.05 |
| 2015 (2) | 17.14 | -51.28 | -1.18 | 0 | 0.61 | -37.32 | 2.25 | -85.82 | 2.20 | -85.03 | 2.72 | -79.58 | 2.29 | -75.14 | 0.98 | 55.56 | 3.38 | -80.53 | 31.44 | 110.3 | -52.51 | 0 | 152.51 | 6341.29 | 0.00 | 0 | 12.40 | -15.65 |
| 2014 (1) | 35.18 | 0 | 15.50 | 0 | 0.97 | 193.79 | 15.87 | 0 | 14.70 | 0 | 13.32 | 0 | 9.21 | 0 | 0.63 | -64.61 | 17.36 | 215.06 | 14.95 | -87.12 | 97.63 | -0.11 | 2.37 | 4.65 | 0.00 | 0 | 14.70 | 139.41 |
