- 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) | 8.35 | 5.3 | -7.43 | 1.91 | -9.05 | -29.26 | 0.01 | -99.76 | -99.54 | -0.02 | -100.62 | -101.1 | -0.01 | -100.55 | -101.3 | 0.14 | -89.47 | -78.79 | 0.33 | -5.71 | 13.79 | 2.15 | -65.71 | -54.74 | 52.51 | -2.72 | -1.65 | 0.00 | -100.0 | -100.0 | 0.00 | -100.0 | 100.0 | 8.93 | -3.46 | -14.55 |
| 23Q3 (19) | 7.93 | -9.99 | 36.96 | 2.10 | -12.13 | 1135.29 | 4.17 | 92.17 | 43.3 | 3.22 | 91.67 | 54.07 | 1.81 | 123.46 | 86.6 | 1.33 | 90.0 | 66.25 | 0.35 | 20.69 | 9.37 | 6.27 | 35.42 | 17.86 | 53.98 | -14.75 | 33.15 | 50.00 | -53.57 | 700.0 | 50.00 | 750.0 | -46.67 | 9.25 | -0.32 | -13.95 |
| 23Q2 (18) | 8.81 | 12.23 | -13.46 | 2.39 | 54.19 | -53.59 | 2.17 | 14.21 | -56.51 | 1.68 | 10.53 | -58.1 | 0.81 | 19.12 | -70.65 | 0.70 | 18.64 | -65.0 | 0.29 | 3.57 | -38.3 | 4.63 | 5.95 | -28.77 | 63.32 | -2.49 | 39.5 | 107.69 | 19.66 | 5.13 | -7.69 | -138.46 | -215.38 | 9.28 | -3.33 | 17.17 |
| 23Q1 (17) | 7.85 | -12.97 | -23.26 | 1.55 | -42.59 | -63.79 | 1.90 | -12.84 | -65.01 | 1.52 | -16.48 | -65.06 | 0.68 | -11.69 | -72.02 | 0.59 | -10.61 | -66.67 | 0.28 | -3.45 | -28.21 | 4.37 | -8.0 | -40.87 | 64.94 | 21.63 | 45.28 | 90.00 | -29.29 | 15.71 | 20.00 | 173.33 | -10.0 | 9.60 | -8.13 | 0.21 |
| 22Q4 (16) | 9.02 | 55.79 | -4.55 | 2.70 | 1488.24 | -35.1 | 2.18 | -25.09 | -52.09 | 1.82 | -12.92 | -50.14 | 0.77 | -20.62 | -64.52 | 0.66 | -17.5 | -59.76 | 0.29 | -9.38 | -30.95 | 4.75 | -10.71 | -25.67 | 53.39 | 31.7 | 22.12 | 127.27 | 1936.36 | 36.05 | -27.27 | -129.09 | -381.82 | 10.45 | -2.79 | 14.21 |
| 22Q3 (15) | 5.79 | -43.12 | -19.47 | 0.17 | -96.7 | -93.54 | 2.91 | -41.68 | 13.23 | 2.09 | -47.88 | 0.0 | 0.97 | -64.86 | -33.1 | 0.80 | -60.0 | -27.93 | 0.32 | -31.91 | -34.69 | 5.32 | -18.15 | 27.88 | 40.54 | -10.69 | 8.83 | 6.25 | -93.9 | -94.05 | 93.75 | 3943.75 | 0 | 10.75 | 35.73 | 47.87 |
| 22Q2 (14) | 10.18 | -0.49 | 41.98 | 5.15 | 20.33 | 69.97 | 4.99 | -8.1 | 98.02 | 4.01 | -7.82 | 96.57 | 2.76 | 13.58 | 105.97 | 2.00 | 12.99 | 92.31 | 0.47 | 20.51 | 4.44 | 6.50 | -12.04 | 54.03 | 45.39 | 1.54 | -6.87 | 102.44 | 31.71 | -15.38 | -2.44 | -110.98 | 88.41 | 7.92 | -17.33 | 7.9 |
| 22Q1 (13) | 10.23 | 8.25 | 41.1 | 4.28 | 2.88 | 62.12 | 5.43 | 19.34 | 152.56 | 4.35 | 19.18 | 152.91 | 2.43 | 11.98 | 116.96 | 1.77 | 7.93 | 103.45 | 0.39 | -7.14 | -13.33 | 7.39 | 15.65 | 88.04 | 44.70 | 2.24 | 8.31 | 77.78 | -16.86 | -37.78 | 22.22 | 129.63 | 188.89 | 9.58 | 4.7 | 31.96 |
| 21Q4 (12) | 9.45 | 31.43 | 18.87 | 4.16 | 58.17 | 37.29 | 4.55 | 77.04 | 77.73 | 3.65 | 74.64 | 77.18 | 2.17 | 49.66 | 76.42 | 1.64 | 47.75 | 70.83 | 0.42 | -14.29 | 5.0 | 6.39 | 53.61 | 37.12 | 43.72 | 17.37 | -15.27 | 93.55 | -10.91 | -19.82 | 9.68 | 0 | 158.06 | 9.15 | 25.86 | 9.32 |
| 21Q3 (11) | 7.19 | 0.28 | -10.9 | 2.63 | -13.2 | -0.38 | 2.57 | 1.98 | 10.78 | 2.09 | 2.45 | 9.42 | 1.45 | 8.21 | 29.46 | 1.11 | 6.73 | 26.14 | 0.49 | 8.89 | 22.5 | 4.16 | -1.42 | -7.14 | 37.25 | -23.57 | -16.42 | 105.00 | -13.26 | -6.67 | 0.00 | 100.0 | 100.0 | 7.27 | -0.95 | -7.97 |
| 21Q2 (10) | 7.17 | -1.1 | -43.41 | 3.03 | 14.77 | -42.83 | 2.52 | 17.21 | -17.11 | 2.04 | 18.6 | -3.77 | 1.34 | 19.64 | 59.52 | 1.04 | 19.54 | 42.47 | 0.45 | 0.0 | 55.17 | 4.22 | 7.38 | -32.48 | 48.74 | 18.1 | -4.36 | 121.05 | -3.16 | -32.21 | -21.05 | 15.79 | 73.21 | 7.34 | 1.1 | -34.93 |
| 21Q1 (9) | 7.25 | -8.81 | 1.68 | 2.64 | -12.87 | 116.39 | 2.15 | -16.02 | -6.11 | 1.72 | -16.5 | -6.01 | 1.12 | -8.94 | 25.84 | 0.87 | -9.37 | 11.54 | 0.45 | 12.5 | 25.0 | 3.93 | -15.67 | -18.8 | 41.27 | -20.02 | 57.16 | 125.00 | 7.14 | 132.14 | -25.00 | -50.0 | -154.17 | 7.26 | -13.26 | -15.68 |
| 20Q4 (8) | 7.95 | -1.49 | 22.31 | 3.03 | 14.77 | 450.91 | 2.56 | 10.34 | 220.0 | 2.06 | 7.85 | 296.15 | 1.23 | 9.82 | 373.08 | 0.96 | 9.09 | 220.0 | 0.40 | 0.0 | 14.29 | 4.66 | 4.02 | 39.94 | 51.60 | 15.77 | 20.76 | 116.67 | 3.7 | 94.44 | -16.67 | -33.33 | -183.33 | 8.37 | 5.95 | -1.06 |
| 20Q3 (7) | 8.07 | -36.31 | -4.27 | 2.64 | -50.19 | 36.79 | 2.32 | -23.68 | -50.0 | 1.91 | -9.91 | -45.58 | 1.12 | 33.33 | -31.71 | 0.88 | 20.55 | -30.71 | 0.40 | 37.93 | 25.0 | 4.48 | -28.32 | -41.51 | 44.57 | -12.54 | 1.53 | 112.50 | -37.0 | 155.68 | -12.50 | 84.09 | -120.83 | 7.90 | -29.96 | -7.6 |
| 20Q2 (6) | 12.67 | 77.7 | 15.6 | 5.30 | 334.43 | 62.58 | 3.04 | 32.75 | 10.14 | 2.12 | 15.85 | -82.14 | 0.84 | -5.62 | -84.0 | 0.73 | -6.41 | -80.22 | 0.29 | -19.44 | -3.33 | 6.25 | 29.13 | 2.46 | 50.96 | 94.06 | 7.56 | 178.57 | 231.63 | 47.06 | -78.57 | -270.24 | -266.67 | 11.28 | 31.01 | 10.7 |
| 20Q1 (5) | 7.13 | 9.69 | -1.66 | 1.22 | 121.82 | 166.67 | 2.29 | 186.25 | -69.47 | 1.83 | 251.92 | -75.47 | 0.89 | 242.31 | -72.53 | 0.78 | 160.0 | -66.81 | 0.36 | 2.86 | 20.0 | 4.84 | 45.35 | -57.99 | 26.26 | -38.54 | -45.29 | 53.85 | -10.26 | 315.38 | 46.15 | 130.77 | -63.08 | 8.61 | 1.77 | -33.41 |
| 19Q4 (4) | 6.50 | -22.89 | 0.0 | 0.55 | -71.5 | 0.0 | 0.80 | -82.76 | 0.0 | 0.52 | -85.19 | 0.0 | 0.26 | -84.15 | 0.0 | 0.30 | -76.38 | 0.0 | 0.35 | 9.37 | 0.0 | 3.33 | -56.53 | 0.0 | 42.73 | -2.67 | 0.0 | 60.00 | 36.36 | 0.0 | 20.00 | -66.67 | 0.0 | 8.46 | -1.05 | 0.0 |
| 19Q3 (3) | 8.43 | -23.08 | 0.0 | 1.93 | -40.8 | 0.0 | 4.64 | 68.12 | 0.0 | 3.51 | -70.43 | 0.0 | 1.64 | -68.76 | 0.0 | 1.27 | -65.58 | 0.0 | 0.32 | 6.67 | 0.0 | 7.66 | 25.57 | 0.0 | 43.90 | -7.34 | 0.0 | 44.00 | -63.76 | 0.0 | 60.00 | 380.0 | 0.0 | 8.55 | -16.09 | 0.0 |
| 19Q2 (2) | 10.96 | 51.17 | 0.0 | 3.26 | 278.14 | 0.0 | 2.76 | -63.2 | 0.0 | 11.87 | 59.12 | 0.0 | 5.25 | 62.04 | 0.0 | 3.69 | 57.02 | 0.0 | 0.30 | 0.0 | 0.0 | 6.10 | -47.05 | 0.0 | 47.38 | -1.29 | 0.0 | 121.43 | 585.71 | 0.0 | -21.43 | -117.14 | 0.0 | 10.19 | -21.19 | 0.0 |
| 19Q1 (1) | 7.25 | 0.0 | 0.0 | -1.83 | 0.0 | 0.0 | 7.50 | 0.0 | 0.0 | 7.46 | 0.0 | 0.0 | 3.24 | 0.0 | 0.0 | 2.35 | 0.0 | 0.0 | 0.30 | 0.0 | 0.0 | 11.52 | 0.0 | 0.0 | 48.00 | 0.0 | 0.0 | -25.00 | 0.0 | 0.0 | 125.00 | 0.0 | 0.0 | 12.93 | 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) | 8.23 | -8.66 | 2.00 | -40.48 | 1.50 | -3.01 | 2.12 | -48.17 | 1.65 | -49.07 | 3.31 | -52.24 | 2.91 | -42.94 | 1.32 | -8.33 | 4.41 | -28.06 | 52.51 | -1.65 | 94.12 | 14.05 | 5.88 | -68.11 | 0.05 | 0 | 9.26 | -2.22 |
| 2022 (9) | 9.01 | 16.71 | 3.36 | 8.74 | 1.54 | 18.84 | 4.09 | 40.55 | 3.24 | 38.46 | 6.93 | 14.93 | 5.10 | 13.84 | 1.44 | -17.24 | 6.13 | 31.55 | 53.39 | 22.12 | 82.52 | -22.8 | 18.45 | 0 | 0.00 | 0 | 9.47 | 22.67 |
| 2021 (8) | 7.72 | -11.26 | 3.09 | 5.82 | 1.30 | -27.57 | 2.91 | 15.48 | 2.34 | 18.78 | 6.03 | 49.63 | 4.48 | 39.56 | 1.74 | 25.18 | 4.66 | -6.05 | 43.72 | -15.27 | 106.90 | -8.37 | -5.75 | 0 | 0.00 | 0 | 7.72 | -12.87 |
| 2020 (7) | 8.70 | 5.84 | 2.92 | 189.11 | 1.79 | -24.69 | 2.52 | -33.16 | 1.97 | -64.5 | 4.03 | -61.21 | 3.21 | -58.79 | 1.39 | 6.92 | 4.96 | -29.14 | 51.60 | 20.76 | 116.67 | 329.55 | -16.67 | 0 | 0.00 | 0 | 8.86 | -10.6 |
| 2019 (6) | 8.22 | -0.96 | 1.01 | -41.28 | 2.38 | -5.79 | 3.77 | 83.01 | 5.55 | 215.34 | 10.39 | 175.6 | 7.79 | 132.54 | 1.30 | -21.69 | 7.00 | 32.83 | 42.73 | -3.52 | 27.16 | -67.54 | 72.84 | 346.14 | 0.00 | 0 | 9.91 | 9.99 |
| 2018 (5) | 8.30 | 22.96 | 1.72 | 95.45 | 2.53 | -2.58 | 2.06 | 54.89 | 1.76 | 77.78 | 3.77 | 63.91 | 3.35 | 41.35 | 1.66 | -11.7 | 5.27 | 16.08 | 44.29 | 223.05 | 83.67 | 27.33 | 16.33 | -52.38 | 0.06 | 0 | 9.01 | 11.65 |
| 2017 (4) | 6.75 | 18.21 | 0.88 | -10.2 | 2.59 | 4.68 | 1.33 | -38.71 | 0.99 | -45.6 | 2.30 | -51.06 | 2.37 | -37.63 | 1.88 | 5.62 | 4.54 | -12.69 | 13.71 | -57.61 | 65.71 | 47.86 | 34.29 | -38.29 | 0.00 | 0 | 8.07 | 11.77 |
| 2016 (3) | 5.71 | 43.47 | 0.98 | 0 | 2.48 | -20.06 | 2.17 | 0 | 1.82 | 0 | 4.70 | 0 | 3.80 | 0 | 1.78 | 39.06 | 5.20 | 0 | 32.34 | -43.8 | 44.44 | -43.86 | 55.56 | 166.67 | 0.00 | 0 | 7.22 | -9.75 |
| 2015 (2) | 3.98 | -39.79 | -6.38 | 0 | 3.10 | 18.95 | -8.05 | 0 | -8.59 | 0 | -18.55 | 0 | -10.22 | 0 | 1.28 | -7.25 | -4.11 | 0 | 57.54 | -26.88 | 79.17 | 375.0 | 20.83 | -75.0 | 0.00 | 0 | 8.00 | 13.8 |
| 2014 (1) | 6.61 | 0 | 0.09 | 0 | 2.61 | 22.15 | 0.57 | 0 | 0.38 | 0 | 0.89 | 0 | 1.16 | 0 | 1.38 | -16.36 | 3.94 | 66.24 | 78.69 | 33.99 | 16.67 | -88.54 | 83.33 | 0 | 0.00 | 0 | 7.03 | 17.95 |
