- 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) | 14.56 | -5.15 | -12.39 | -3.54 | -567.92 | -1280.0 | -9.64 | -1654.84 | -273.64 | -8.21 | -584.17 | -33.06 | -2.21 | -481.58 | -27.01 | -1.05 | -5350.0 | -38.16 | 0.16 | -11.11 | 0.0 | 0.79 | -91.75 | -87.28 | 74.15 | 3.01 | -8.92 | 36.11 | 154.17 | 497.22 | 63.89 | -61.67 | -41.44 | 17.41 | 16.14 | 11.96 |
| 23Q3 (19) | 15.35 | -32.85 | 7.64 | -0.53 | -114.29 | 81.14 | 0.62 | -78.4 | 116.8 | -1.20 | -185.11 | -2.56 | -0.38 | -208.57 | -18.75 | 0.02 | -95.12 | 0 | 0.18 | 28.57 | 12.5 | 9.58 | -32.96 | 121.25 | 71.98 | -5.25 | -2.13 | -66.67 | -151.28 | -183.33 | 166.67 | 655.56 | 525.0 | 14.99 | -21.27 | -10.99 |
| 23Q2 (18) | 22.86 | 27.71 | 138.37 | 3.71 | 177.78 | 139.76 | 2.87 | 144.02 | 122.85 | 1.41 | 128.26 | 117.24 | 0.35 | 129.91 | 117.77 | 0.41 | 195.35 | 140.2 | 0.14 | 7.69 | 0.0 | 14.29 | 171.67 | 549.37 | 75.97 | -3.0 | 14.74 | 130.00 | 78.75 | 74.69 | -30.00 | -210.0 | -217.27 | 19.04 | 0.16 | 8.37 |
| 23Q1 (17) | 17.90 | 7.7 | 21.11 | -4.77 | -1690.0 | -496.25 | -6.52 | -152.71 | -739.22 | -4.99 | 19.12 | -708.54 | -1.17 | 32.76 | -608.7 | -0.43 | 43.42 | -279.17 | 0.13 | -18.75 | -18.75 | 5.26 | -15.3 | -44.22 | 78.32 | -3.8 | 3.57 | 72.73 | 900.0 | 196.97 | 27.27 | -75.0 | -84.42 | 19.01 | 22.25 | 14.17 |
| 22Q4 (16) | 16.62 | 16.55 | -0.3 | 0.30 | 110.68 | -94.76 | -2.58 | 30.08 | -137.66 | -6.17 | -427.35 | -211.98 | -1.74 | -443.75 | -180.93 | -0.76 | 0 | -158.46 | 0.16 | 0.0 | -27.27 | 6.21 | 43.42 | -50.71 | 81.41 | 10.69 | 5.11 | -9.09 | -111.36 | -110.61 | 109.09 | 309.09 | 536.36 | 15.55 | -7.66 | 27.56 |
| 22Q3 (15) | 14.26 | 48.7 | 33.77 | -2.81 | 69.88 | 33.73 | -3.69 | 70.62 | -64.0 | -1.17 | 85.7 | 38.74 | -0.32 | 83.76 | 40.74 | 0.00 | 100.0 | 100.0 | 0.16 | 14.29 | 0.0 | 4.33 | 236.16 | -29.02 | 73.55 | 11.09 | -9.62 | 80.00 | 7.5 | -60.0 | 26.67 | 4.24 | 126.67 | 16.84 | -4.15 | 4.99 |
| 22Q2 (14) | 9.59 | -35.12 | -32.18 | -9.33 | -1066.25 | -148.14 | -12.56 | -1331.37 | -229.66 | -8.18 | -1097.56 | -199.63 | -1.97 | -956.52 | -222.95 | -1.02 | -525.0 | -308.0 | 0.14 | -12.5 | 7.69 | -3.18 | -133.72 | -145.11 | 66.21 | -12.44 | -8.52 | 74.42 | 199.22 | -25.58 | 25.58 | -85.38 | 0 | 17.57 | 5.53 | -2.77 |
| 22Q1 (13) | 14.78 | -11.34 | 1.86 | -0.80 | -113.99 | 73.15 | 1.02 | -85.11 | 126.63 | 0.82 | -85.12 | 127.99 | 0.23 | -89.3 | 135.94 | 0.24 | -81.54 | 196.0 | 0.16 | -27.27 | 23.08 | 9.43 | -25.16 | 35.1 | 75.62 | -2.36 | 12.4 | -75.00 | -187.5 | -200.0 | 175.00 | 920.83 | 600.0 | 16.65 | 36.59 | 3.93 |
| 21Q4 (12) | 16.67 | 56.38 | -0.95 | 5.72 | 234.91 | 102.84 | 6.85 | 404.44 | -30.24 | 5.51 | 388.48 | -27.79 | 2.15 | 498.15 | -2.71 | 1.30 | 719.05 | -8.45 | 0.22 | 37.5 | 22.22 | 12.60 | 106.56 | -27.75 | 77.45 | -4.83 | 11.76 | 85.71 | -57.14 | 208.57 | 17.14 | 117.14 | -76.26 | 12.19 | -24.0 | 0.41 |
| 21Q3 (11) | 10.66 | -24.61 | -41.88 | -4.24 | -12.77 | -233.75 | -2.25 | 40.94 | -176.27 | -1.91 | 30.04 | -181.28 | -0.54 | 11.48 | -198.18 | -0.21 | 16.0 | -151.22 | 0.16 | 23.08 | 6.67 | 6.10 | -13.48 | -51.74 | 81.38 | 12.43 | 32.5 | 200.00 | 100.0 | 77.78 | -100.00 | 0 | -700.0 | 16.04 | -11.23 | 28.94 |
| 21Q2 (10) | 14.14 | -2.55 | 23.49 | -3.76 | -26.17 | 61.94 | -3.81 | 0.52 | 60.8 | -2.73 | 6.83 | 61.98 | -0.61 | 4.69 | 48.31 | -0.25 | 0.0 | 63.24 | 0.13 | 0.0 | 30.0 | 7.05 | 1.0 | 93.15 | 72.38 | 7.58 | 23.22 | 100.00 | 33.33 | 0.0 | -0.00 | -100.0 | 0 | 18.07 | 12.8 | 5.98 |
| 21Q1 (9) | 14.51 | -13.78 | -8.91 | -2.98 | -205.67 | 71.91 | -3.83 | -139.0 | 67.57 | -2.93 | -138.4 | 62.29 | -0.64 | -128.96 | 30.43 | -0.25 | -117.61 | 50.98 | 0.13 | -27.78 | 62.5 | 6.98 | -59.98 | 10.09 | 67.28 | -2.91 | 24.0 | 75.00 | 170.0 | -15.0 | 25.00 | -65.38 | 112.5 | 16.02 | 31.96 | 0 |
| 20Q4 (8) | 16.83 | -8.23 | -15.51 | 2.82 | -11.04 | -43.82 | 9.82 | 232.88 | 40.49 | 7.63 | 224.68 | 54.77 | 2.21 | 301.82 | 56.74 | 1.42 | 246.34 | 47.92 | 0.18 | 20.0 | 0.0 | 17.44 | 37.97 | 13.39 | 69.30 | 12.83 | 21.94 | 27.78 | -75.31 | -60.78 | 72.22 | 677.78 | 147.62 | 12.14 | -2.41 | -3.96 |
| 20Q3 (7) | 18.34 | 60.17 | -11.74 | 3.17 | 132.09 | 21.46 | 2.95 | 130.35 | -36.97 | 2.35 | 132.73 | -32.47 | 0.55 | 146.61 | -12.7 | 0.41 | 160.29 | -10.87 | 0.15 | 50.0 | 36.36 | 12.64 | 246.3 | -16.4 | 61.42 | 4.56 | -6.26 | 112.50 | 12.5 | 125.0 | -12.50 | 0 | -131.25 | 12.44 | -27.04 | -27.8 |
| 20Q2 (6) | 11.45 | -28.12 | -42.75 | -9.88 | 6.88 | -482.95 | -9.72 | 17.7 | -223.19 | -7.18 | 7.59 | -260.27 | -1.18 | -28.26 | -245.68 | -0.68 | -33.33 | -221.43 | 0.10 | 25.0 | -9.09 | 3.65 | -42.43 | -78.94 | 58.74 | 8.26 | -5.24 | 100.00 | 13.33 | 220.0 | -0.00 | -100.0 | -100.0 | 17.05 | 0 | 7.57 |
| 20Q1 (5) | 15.93 | -20.03 | -26.42 | -10.61 | -311.35 | -2222.0 | -11.81 | -268.96 | -1092.93 | -7.77 | -257.61 | -77800.0 | -0.92 | -165.25 | 0 | -0.51 | -153.12 | -737.5 | 0.08 | -55.56 | -20.0 | 6.34 | -58.78 | -33.61 | 54.26 | -4.52 | -19.6 | 88.24 | 24.57 | 276.47 | 11.76 | -59.66 | -92.16 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 19.92 | -4.14 | 0.0 | 5.02 | 92.34 | 0.0 | 6.99 | 49.36 | 0.0 | 4.93 | 41.67 | 0.0 | 1.41 | 123.81 | 0.0 | 0.96 | 108.7 | 0.0 | 0.18 | 63.64 | 0.0 | 15.38 | 1.72 | 0.0 | 56.83 | -13.26 | 0.0 | 70.83 | 41.67 | 0.0 | 29.17 | -27.08 | 0.0 | 12.64 | -26.64 | 0.0 |
| 19Q3 (3) | 20.78 | 3.9 | 0.0 | 2.61 | 1.16 | 0.0 | 4.68 | -40.68 | 0.0 | 3.48 | -22.32 | 0.0 | 0.63 | -22.22 | 0.0 | 0.46 | -17.86 | 0.0 | 0.11 | 0.0 | 0.0 | 15.12 | -12.75 | 0.0 | 65.52 | 5.69 | 0.0 | 50.00 | 60.0 | 0.0 | 40.00 | -41.82 | 0.0 | 17.23 | 8.71 | 0.0 |
| 19Q2 (2) | 20.00 | -7.62 | 0.0 | 2.58 | 416.0 | 0.0 | 7.89 | 896.97 | 0.0 | 4.48 | 44700.0 | 0.0 | 0.81 | 0 | 0.0 | 0.56 | 600.0 | 0.0 | 0.11 | 10.0 | 0.0 | 17.33 | 81.47 | 0.0 | 61.99 | -8.15 | 0.0 | 31.25 | 162.5 | 0.0 | 68.75 | -54.17 | 0.0 | 15.85 | -17.71 | 0.0 |
| 19Q1 (1) | 21.65 | 0.0 | 0.0 | 0.50 | 0.0 | 0.0 | -0.99 | 0.0 | 0.0 | 0.01 | 0.0 | 0.0 | 0.00 | 0.0 | 0.0 | 0.08 | 0.0 | 0.0 | 0.10 | 0.0 | 0.0 | 9.55 | 0.0 | 0.0 | 67.49 | 0.0 | 0.0 | -50.00 | 0.0 | 0.0 | 150.00 | 0.0 | 0.0 | 19.26 | 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) | 17.46 | 24.89 | -1.26 | 0 | 8.10 | 20.76 | -3.02 | 0 | -3.20 | 0 | -3.42 | 0 | -1.03 | 0 | 0.60 | -3.23 | 7.50 | 71.23 | 74.15 | -8.92 | 41.30 | -40.74 | 58.70 | 93.7 | 1.62 | 79.47 | 17.43 | 4.94 |
| 2022 (9) | 13.98 | -1.62 | -2.95 | 0 | 6.71 | -3.8 | -4.24 | 0 | -3.61 | 0 | -4.00 | 0 | -1.56 | 0 | 0.62 | -3.13 | 4.38 | -49.71 | 81.41 | 5.11 | 69.70 | 0 | 30.30 | -88.98 | 0.90 | -14.23 | 16.61 | 9.93 |
| 2021 (8) | 14.21 | -11.46 | -0.45 | 0 | 6.97 | -24.95 | 0.27 | -69.32 | 0.29 | -70.41 | 0.32 | -56.76 | 0.63 | -13.7 | 0.64 | 39.13 | 8.71 | -25.3 | 77.45 | 11.76 | -175.00 | 0 | 275.00 | 3.13 | 1.05 | 28.69 | 15.11 | -2.14 |
| 2020 (7) | 16.05 | -21.55 | -1.56 | 0 | 9.29 | 11.33 | 0.88 | -82.85 | 0.98 | -72.47 | 0.74 | -75.25 | 0.73 | -65.73 | 0.46 | -9.8 | 11.66 | -20.3 | 69.30 | 21.94 | -166.67 | 0 | 266.67 | 559.65 | 0.82 | 18.81 | 15.44 | -1.28 |
| 2019 (6) | 20.46 | -7.59 | 3.08 | -65.2 | 8.34 | 64.07 | 5.13 | -56.64 | 3.56 | -61.3 | 2.99 | -71.03 | 2.13 | -64.56 | 0.51 | -17.74 | 14.63 | -17.39 | 56.83 | -24.7 | 59.57 | -19.8 | 40.43 | 61.7 | 0.69 | -76.36 | 15.64 | 29.36 |
| 2018 (5) | 22.14 | -2.38 | 8.85 | 1064.47 | 5.08 | -45.23 | 11.83 | 85.13 | 9.20 | 62.83 | 10.32 | 198.27 | 6.01 | 146.31 | 0.62 | 67.57 | 17.71 | 3.87 | 75.47 | -11.89 | 74.29 | 524.0 | 25.00 | -71.62 | 2.92 | 0 | 12.09 | -34.04 |
| 2017 (4) | 22.68 | -14.45 | 0.76 | 0 | 9.28 | -2.93 | 6.39 | 0 | 5.65 | -26.24 | 3.46 | 25.82 | 2.44 | 5.63 | 0.37 | 54.17 | 17.05 | 78.16 | 85.65 | 105.89 | 11.90 | -80.95 | 88.10 | 134.92 | 0.00 | 0 | 18.33 | -30.91 |
| 2016 (3) | 26.51 | 3.6 | -1.51 | 0 | 9.57 | -3.65 | -2.37 | 0 | 7.66 | 0 | 2.75 | -32.76 | 2.31 | -28.92 | 0.24 | -45.45 | 9.57 | -54.3 | 41.60 | 38.62 | 62.50 | -50.37 | 37.50 | 0 | 0.00 | 0 | 26.53 | -23.08 |
| 2015 (2) | 25.59 | 8.25 | 12.25 | 1976.27 | 9.93 | -28.85 | 9.79 | 0 | -39.53 | 0 | 4.09 | 0 | 3.25 | 0 | 0.44 | -20.0 | 20.94 | 4088.0 | 30.01 | -15.03 | 125.93 | 0 | -25.93 | 0 | 0.00 | 0 | 34.49 | 34.1 |
| 2014 (1) | 23.64 | 0 | 0.59 | 0 | 13.95 | -8.7 | -15.03 | 0 | -16.70 | 0 | -13.61 | 0 | -8.78 | 0 | 0.55 | -17.91 | 0.50 | -98.0 | 35.32 | -43.48 | -4.40 | 0 | 103.30 | 0 | 0.00 | 0 | 25.72 | 6.55 |
