- 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) | 21.91 | -3.22 | 4.43 | -2.21 | -66.17 | 37.75 | -4.65 | -368.79 | 39.53 | -4.23 | -387.76 | 42.99 | -1.71 | -385.0 | 40.42 | -0.56 | -236.59 | 48.15 | 0.17 | 0.0 | 0.0 | 5.21 | -52.33 | 152.91 | 133.06 | -0.45 | 4.73 | 47.52 | 162.27 | 3.47 | 52.48 | -70.24 | -1.89 | 28.40 | -2.17 | -9.67 |
| 23Q3 (19) | 22.64 | 16.76 | 11.31 | -1.33 | 77.65 | -4.72 | 1.73 | 169.2 | -64.48 | 1.47 | 166.52 | -64.06 | 0.60 | 170.59 | -67.57 | 0.41 | 327.78 | -54.95 | 0.17 | 6.25 | -10.53 | 10.93 | 52.02 | -15.07 | 133.66 | -4.08 | -1.47 | -76.32 | -132.26 | -196.01 | 176.32 | 229.13 | 40.18 | 29.03 | -7.04 | 43.71 |
| 23Q2 (18) | 19.39 | 5.38 | -11.14 | -5.95 | 6.74 | -550.76 | -2.50 | 67.15 | -145.45 | -2.21 | 72.38 | -150.69 | -0.85 | 71.19 | -140.67 | -0.18 | 83.49 | -118.56 | 0.16 | 0.0 | -20.0 | 7.19 | 240.76 | -40.68 | 139.35 | 1.34 | -2.29 | 236.54 | 182.03 | 885.58 | -136.54 | -946.54 | -279.66 | 31.23 | 0.97 | 27.83 |
| 23Q1 (17) | 18.40 | -12.3 | -18.69 | -6.38 | -79.72 | -234.6 | -7.61 | 1.04 | -202.28 | -8.00 | -7.82 | -237.93 | -2.95 | -2.79 | -200.68 | -1.09 | -0.93 | -182.58 | 0.16 | -5.88 | -23.81 | 2.11 | 2.43 | -84.6 | 137.51 | 8.23 | -5.35 | 83.87 | 82.61 | 31.8 | 16.13 | -69.85 | -55.65 | 30.93 | -1.62 | 27.18 |
| 22Q4 (16) | 20.98 | 3.15 | -3.76 | -3.55 | -179.53 | -348.25 | -7.69 | -257.91 | -527.22 | -7.42 | -281.42 | -509.94 | -2.87 | -255.14 | -405.32 | -1.08 | -218.68 | -325.0 | 0.17 | -10.53 | -19.05 | 2.06 | -83.99 | -75.56 | 127.05 | -6.34 | -4.24 | 45.93 | 278.15 | -43.47 | 53.49 | -57.48 | 156.74 | 31.44 | 55.64 | 14.24 |
| 22Q3 (15) | 20.34 | -6.78 | -6.53 | -1.27 | -196.21 | -125.87 | 4.87 | -11.45 | -16.32 | 4.09 | -6.19 | -11.09 | 1.85 | -11.48 | -31.99 | 0.91 | -6.19 | -18.75 | 0.19 | -5.0 | -17.39 | 12.87 | 6.19 | 6.19 | 135.65 | -4.88 | -12.48 | -25.78 | -207.42 | -130.45 | 125.78 | 65.5 | 720.09 | 20.20 | -17.31 | -13.19 |
| 22Q2 (14) | 21.82 | -3.58 | -11.01 | 1.32 | -72.15 | -80.3 | 5.50 | -26.08 | -19.12 | 4.36 | -24.83 | -32.61 | 2.09 | -28.67 | -46.27 | 0.97 | -26.52 | -39.38 | 0.20 | -4.76 | -16.67 | 12.12 | -11.53 | -1.06 | 142.61 | -1.84 | -11.4 | 24.00 | -62.29 | -75.61 | 76.00 | 109.0 | 4688.0 | 24.43 | 0.45 | 6.59 |
| 22Q1 (13) | 22.63 | 3.81 | -5.47 | 4.74 | 231.47 | -27.96 | 7.44 | 313.33 | -9.16 | 5.80 | 220.44 | -11.45 | 2.93 | 211.7 | -11.48 | 1.32 | 175.0 | -10.2 | 0.21 | 0.0 | 0.0 | 13.70 | 62.51 | -1.37 | 145.29 | 9.5 | -1.82 | 63.64 | -21.68 | -20.87 | 36.36 | 74.55 | 85.75 | 24.32 | -11.63 | -0.73 |
| 21Q4 (12) | 21.80 | 0.18 | -5.22 | 1.43 | -70.88 | -69.05 | 1.80 | -69.07 | -18.18 | 1.81 | -60.65 | -12.56 | 0.94 | -65.44 | -4.08 | 0.48 | -57.14 | -4.0 | 0.21 | -8.7 | 0.0 | 8.43 | -30.45 | 10.2 | 132.68 | -14.39 | 5.66 | 81.25 | -4.03 | -61.03 | 20.83 | 35.83 | 118.83 | 27.52 | 18.26 | 5.12 |
| 21Q3 (11) | 21.76 | -11.26 | -11.0 | 4.91 | -26.72 | -31.33 | 5.82 | -14.41 | -5.37 | 4.60 | -28.9 | -8.18 | 2.72 | -30.08 | 4.21 | 1.12 | -30.0 | -8.94 | 0.23 | -4.17 | 0.0 | 12.12 | -1.06 | 1.51 | 154.99 | -3.71 | 21.73 | 84.66 | -13.97 | -27.28 | 15.34 | 866.26 | 193.36 | 23.27 | 1.53 | -3.04 |
| 21Q2 (10) | 24.52 | 2.42 | 0.66 | 6.70 | 1.82 | 9.84 | 6.80 | -16.97 | -6.59 | 6.47 | -1.22 | 3.85 | 3.89 | 17.52 | 27.96 | 1.60 | 8.84 | 8.11 | 0.24 | 14.29 | 9.09 | 12.25 | -11.81 | -8.03 | 160.96 | 8.77 | 32.46 | 98.41 | 22.37 | 17.16 | 1.59 | -91.89 | -90.08 | 22.92 | -6.45 | 0 |
| 21Q1 (9) | 23.94 | 4.09 | 33.0 | 6.58 | 42.42 | 370.78 | 8.19 | 272.27 | 1030.68 | 6.55 | 216.43 | 485.29 | 3.31 | 237.76 | 617.19 | 1.47 | 194.0 | 768.18 | 0.21 | 0.0 | 23.53 | 13.89 | 81.57 | 93.72 | 147.98 | 17.85 | 30.17 | 80.42 | -61.43 | -71.13 | 19.58 | 117.69 | 110.96 | 24.50 | -6.42 | 0 |
| 20Q4 (8) | 23.00 | -5.93 | -5.04 | 4.62 | -35.38 | -9.59 | 2.20 | -64.23 | -46.08 | 2.07 | -58.68 | -33.65 | 0.98 | -62.45 | -34.23 | 0.50 | -59.35 | -35.9 | 0.21 | -8.7 | -4.55 | 7.65 | -35.93 | -25.58 | 125.57 | -1.37 | 8.99 | 208.51 | 79.09 | 65.23 | -110.64 | -573.45 | -342.55 | 26.18 | 9.08 | 3.15 |
| 20Q3 (7) | 24.45 | 0.37 | -2.2 | 7.15 | 17.21 | 16.07 | 6.15 | -15.52 | -19.08 | 5.01 | -19.58 | -32.21 | 2.61 | -14.14 | -26.06 | 1.23 | -16.89 | -33.15 | 0.23 | 4.55 | -4.17 | 11.94 | -10.36 | -14.65 | 127.32 | 4.77 | 13.66 | 116.43 | 38.61 | 43.01 | -16.43 | -202.68 | -185.43 | 24.00 | 0 | -0.99 |
| 20Q2 (6) | 24.36 | 35.33 | 9.73 | 6.10 | 351.03 | 153.11 | 7.28 | 927.27 | 58.26 | 6.23 | 466.47 | 97.78 | 3.04 | 575.0 | 153.33 | 1.48 | 772.73 | 105.56 | 0.22 | 29.41 | 10.0 | 13.32 | 85.77 | 14.14 | 121.52 | 6.9 | 30.75 | 84.00 | -69.85 | 59.6 | 16.00 | 108.96 | -66.22 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 18.00 | -25.68 | -4.81 | -2.43 | -147.55 | -834.62 | -0.88 | -121.57 | -134.38 | -1.70 | -154.49 | -176.58 | -0.64 | -142.95 | -181.01 | -0.22 | -128.21 | -144.9 | 0.17 | -22.73 | -5.56 | 7.17 | -30.25 | -30.19 | 113.68 | -1.33 | 26.72 | 278.57 | 120.75 | 2816.07 | -178.57 | -614.29 | -261.96 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 24.22 | -3.12 | 0.0 | 5.11 | -17.05 | 0.0 | 4.08 | -46.32 | 0.0 | 3.12 | -57.78 | 0.0 | 1.49 | -57.79 | 0.0 | 0.78 | -57.61 | 0.0 | 0.22 | -8.33 | 0.0 | 10.28 | -26.52 | 0.0 | 115.21 | 2.85 | 0.0 | 126.19 | 55.01 | 0.0 | -25.00 | -230.0 | 0.0 | 25.38 | 4.7 | 0.0 |
| 19Q3 (3) | 25.00 | 12.61 | 0.0 | 6.16 | 155.6 | 0.0 | 7.60 | 65.22 | 0.0 | 7.39 | 134.6 | 0.0 | 3.53 | 194.17 | 0.0 | 1.84 | 155.56 | 0.0 | 0.24 | 20.0 | 0.0 | 13.99 | 19.88 | 0.0 | 112.02 | 20.53 | 0.0 | 81.41 | 54.68 | 0.0 | 19.23 | -59.4 | 0.0 | 24.24 | -9.85 | 0.0 |
| 19Q2 (2) | 22.20 | 17.4 | 0.0 | 2.41 | 1026.92 | 0.0 | 4.60 | 79.69 | 0.0 | 3.15 | 41.89 | 0.0 | 1.20 | 51.9 | 0.0 | 0.72 | 46.94 | 0.0 | 0.20 | 11.11 | 0.0 | 11.67 | 13.63 | 0.0 | 92.94 | 3.6 | 0.0 | 52.63 | 613.16 | 0.0 | 47.37 | -57.04 | 0.0 | 26.89 | 1.63 | 0.0 |
| 19Q1 (1) | 18.91 | 0.0 | 0.0 | -0.26 | 0.0 | 0.0 | 2.56 | 0.0 | 0.0 | 2.22 | 0.0 | 0.0 | 0.79 | 0.0 | 0.0 | 0.49 | 0.0 | 0.0 | 0.18 | 0.0 | 0.0 | 10.27 | 0.0 | 0.0 | 89.71 | 0.0 | 0.0 | -10.26 | 0.0 | 0.0 | 110.26 | 0.0 | 0.0 | 26.46 | 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) | 20.64 | -3.96 | -3.90 | 0 | 7.67 | 22.47 | -3.18 | 0 | -3.16 | 0 | -4.92 | 0 | -1.44 | 0 | 0.68 | -16.05 | 6.42 | -39.26 | 133.06 | 4.73 | 122.59 | 577.49 | -22.59 | 0 | 1.16 | -3.36 | 29.86 | 20.21 |
| 2022 (9) | 21.49 | -6.44 | 0.55 | -88.68 | 6.26 | 17.46 | 3.03 | -45.6 | 2.15 | -55.3 | 3.99 | -60.38 | 2.27 | -51.7 | 0.81 | -10.99 | 10.57 | -8.96 | 127.05 | -4.24 | 18.10 | -79.26 | 81.90 | 543.23 | 1.20 | -1.03 | 24.84 | 1.26 |
| 2021 (8) | 22.97 | 0.88 | 4.86 | 12.5 | 5.33 | -4.23 | 5.57 | 38.9 | 4.81 | 49.38 | 10.07 | 72.43 | 4.70 | 60.41 | 0.91 | 10.98 | 11.61 | 13.6 | 132.68 | 5.66 | 87.27 | -19.23 | 12.73 | 0 | 1.21 | 379.84 | 24.53 | -4.18 |
| 2020 (7) | 22.77 | -0.44 | 4.32 | 17.71 | 5.57 | -6.18 | 4.01 | -17.66 | 3.22 | -22.22 | 5.84 | -17.05 | 2.93 | -21.45 | 0.82 | 0.0 | 10.22 | -12.2 | 125.57 | 8.99 | 108.05 | 43.53 | -7.74 | 0 | 0.25 | -5.79 | 25.60 | -0.12 |
| 2019 (6) | 22.87 | 11.78 | 3.67 | 81.68 | 5.94 | 1.1 | 4.87 | 29.52 | 4.14 | 25.08 | 7.04 | 34.87 | 3.73 | 24.33 | 0.82 | 1.23 | 11.64 | 11.71 | 115.21 | 15.0 | 75.28 | 40.52 | 24.72 | -46.76 | 0.27 | -30.62 | 25.63 | -6.66 |
| 2018 (5) | 20.46 | 6.07 | 2.02 | 320.83 | 5.87 | -11.76 | 3.76 | 147.37 | 3.31 | 198.2 | 5.22 | 252.7 | 3.00 | 183.02 | 0.81 | 8.0 | 10.42 | 17.61 | 100.18 | 12.07 | 53.57 | 70.63 | 46.43 | -32.32 | 0.39 | 0 | 27.46 | -8.98 |
| 2017 (4) | 19.29 | -17.98 | 0.48 | -83.67 | 6.65 | -7.03 | 1.52 | -70.94 | 1.11 | -71.97 | 1.48 | -69.23 | 1.06 | -64.19 | 0.75 | 8.7 | 8.86 | -32.47 | 89.39 | 33.68 | 31.40 | -44.03 | 68.60 | 56.23 | 0.00 | 0 | 30.17 | -10.98 |
| 2016 (3) | 23.52 | -6.56 | 2.94 | 82.61 | 7.16 | -31.07 | 5.23 | 3.36 | 3.96 | 4.49 | 4.81 | 34.73 | 2.96 | 32.14 | 0.69 | 25.45 | 13.12 | -19.41 | 66.87 | -19.72 | 56.09 | 76.15 | 43.91 | -35.58 | 0.00 | 0 | 33.89 | -8.03 |
| 2015 (2) | 25.17 | -16.49 | 1.61 | -77.85 | 10.38 | 15.36 | 5.06 | -62.96 | 3.79 | -65.07 | 3.57 | -68.49 | 2.24 | -68.67 | 0.55 | -14.06 | 16.28 | -30.78 | 83.30 | 49.15 | 31.84 | -40.03 | 68.16 | 45.87 | 0.00 | 0 | 36.85 | 26.16 |
| 2014 (1) | 30.14 | 0 | 7.27 | 0 | 9.00 | 2.85 | 13.66 | 0 | 10.85 | 0 | 11.33 | 0 | 7.15 | 0 | 0.64 | 1.59 | 23.52 | 44.74 | 55.85 | -19.09 | 53.10 | -30.22 | 46.73 | 95.47 | 0.00 | 0 | 29.21 | -17.53 |
