- 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) | 19.71 | -0.1 | 23.11 | 4.76 | 1342.42 | -55.47 | 1.57 | 772.22 | -78.46 | 1.36 | 655.56 | -80.09 | 0.66 | 1550.0 | -87.55 | 0.32 | 100.0 | -79.75 | 0.12 | 100.0 | -42.86 | 7.41 | -24.39 | -20.92 | 310.25 | 9.15 | 22.23 | 300.00 | 0 | 103.57 | -200.00 | 0 | -322.22 | 4.99 | -58.59 | 59.94 |
| 23Q3 (19) | 19.73 | 42.15 | 36.45 | 0.33 | -44.07 | -94.82 | 0.18 | 102.24 | -95.71 | 0.18 | 102.26 | -95.71 | 0.04 | 102.03 | -97.83 | 0.16 | 140.0 | -73.33 | 0.06 | -14.29 | -50.0 | 9.80 | 709.92 | 15.98 | 284.25 | 5.96 | 5.22 | 0.00 | 100.0 | -100.0 | 0.00 | -100.0 | 100.0 | 12.05 | 14.22 | 121.51 |
| 23Q2 (18) | 13.88 | 26.3 | -26.83 | 0.59 | 105.52 | -94.53 | -8.02 | 40.81 | -218.29 | -7.98 | 41.11 | -217.7 | -1.97 | 16.17 | -160.99 | -0.40 | 25.93 | -137.04 | 0.07 | 40.0 | -53.33 | 1.21 | 135.69 | -88.58 | 268.25 | 4.43 | 1.49 | -7.69 | -109.47 | -104.66 | 107.69 | 474.36 | 279.49 | 10.55 | -26.79 | 112.7 |
| 23Q1 (17) | 10.99 | -31.36 | -37.63 | -10.69 | -200.0 | -331.89 | -13.55 | -285.87 | -1675.58 | -13.55 | -298.39 | -1675.58 | -2.35 | -144.34 | -1121.74 | -0.54 | -134.18 | -400.0 | 0.05 | -76.19 | -50.0 | -3.39 | -136.18 | -156.31 | 256.88 | 1.21 | 37.69 | 81.25 | -44.87 | -89.84 | 18.75 | 139.58 | 103.12 | 14.41 | 361.86 | 71.75 |
| 22Q4 (16) | 16.01 | 10.72 | 94.3 | 10.69 | 67.82 | 674.73 | 7.29 | 73.57 | 421.15 | 6.83 | 62.62 | 400.88 | 5.30 | 188.04 | 779.49 | 1.58 | 163.33 | 818.18 | 0.21 | 75.0 | 40.0 | 9.37 | 10.89 | 564.54 | 253.82 | -6.04 | 73.56 | 147.37 | -1.75 | 84.21 | -47.37 | 5.26 | -336.84 | 3.12 | -42.65 | -47.39 |
| 22Q3 (15) | 14.46 | -23.77 | -61.52 | 6.37 | -40.91 | 63.75 | 4.20 | -38.05 | 203.45 | 4.20 | -38.05 | 203.45 | 1.84 | -43.03 | 475.51 | 0.60 | -44.44 | 700.0 | 0.12 | -20.0 | 100.0 | 8.45 | -20.28 | 28.42 | 270.15 | 2.21 | 119.17 | 150.00 | -9.09 | 250.0 | -50.00 | 16.67 | -125.0 | 5.44 | 9.68 | -64.84 |
| 22Q2 (14) | 18.97 | 7.66 | -36.89 | 10.78 | 133.84 | -27.31 | 6.78 | 688.37 | -45.32 | 6.78 | 688.37 | -45.32 | 3.23 | 1304.35 | 5.21 | 1.08 | 500.0 | -33.74 | 0.15 | 50.0 | 25.0 | 10.60 | 76.08 | -39.94 | 264.32 | 41.67 | 151.71 | 165.00 | -79.38 | 36.3 | -60.00 | 90.0 | -185.0 | 4.96 | -40.88 | -35.08 |
| 22Q1 (13) | 17.62 | 113.83 | 9.92 | 4.61 | 347.85 | -50.16 | 0.86 | 137.89 | -90.86 | 0.86 | 137.89 | -90.86 | 0.23 | 129.49 | -94.22 | 0.18 | 181.82 | -91.86 | 0.10 | -33.33 | -56.52 | 6.02 | 326.95 | -49.71 | 186.57 | 27.58 | 67.79 | 800.00 | 900.0 | 700.0 | -600.00 | -3100.0 | 0 | 8.39 | 41.48 | 77.38 |
| 21Q4 (12) | 8.24 | -78.07 | -59.73 | -1.86 | -147.81 | -125.94 | -2.27 | 44.09 | -130.39 | -2.27 | 44.09 | -135.19 | -0.78 | -59.18 | -175.73 | -0.22 | -120.0 | -127.85 | 0.15 | 150.0 | 25.0 | 1.41 | -78.57 | -90.6 | 146.24 | 18.64 | 203.15 | 80.00 | 180.0 | -20.0 | 20.00 | -90.0 | 0 | 5.93 | -61.67 | -50.91 |
| 21Q3 (11) | 37.58 | 25.02 | 9.95 | 3.89 | -73.77 | 47.35 | -4.06 | -132.74 | -186.2 | -4.06 | -132.74 | -186.2 | -0.49 | -115.96 | -258.06 | -0.10 | -106.13 | -134.48 | 0.06 | -50.0 | 0.0 | 6.58 | -62.72 | -68.98 | 123.26 | 17.38 | 548.4 | -100.00 | -182.61 | -300.0 | 200.00 | 1050.0 | 300.0 | 15.47 | 102.49 | -43.93 |
| 21Q2 (10) | 30.06 | 87.52 | 38.46 | 14.83 | 60.32 | 208.64 | 12.40 | 31.77 | 205.89 | 12.40 | 31.77 | 205.62 | 3.07 | -22.86 | 509.33 | 1.63 | -26.24 | 350.77 | 0.12 | -47.83 | 100.0 | 17.65 | 47.45 | 446.44 | 105.01 | -5.56 | 773.63 | 121.05 | 21.05 | 21.05 | -21.05 | 0 | 15.79 | 7.64 | 61.52 | -76.07 |
| 21Q1 (9) | 16.03 | -21.65 | -41.24 | 9.25 | 29.01 | 142.15 | 9.41 | 25.97 | 197.78 | 9.41 | 45.89 | 197.78 | 3.98 | 286.41 | 2387.5 | 2.21 | 179.75 | 1200.0 | 0.23 | 91.67 | 360.0 | 11.97 | -20.2 | -50.12 | 111.19 | 130.49 | 923.85 | 100.00 | 0.0 | 0.0 | 0.00 | 0 | 0 | 4.73 | -60.84 | 0 |
| 20Q4 (8) | 20.46 | -40.14 | 0 | 7.17 | 171.59 | 0 | 7.47 | 58.6 | 0 | 6.45 | 36.94 | 0 | 1.03 | 232.26 | 0 | 0.79 | 172.41 | 0 | 0.12 | 100.0 | 0 | 15.00 | -29.28 | 0 | 48.24 | 153.76 | 0 | 100.00 | 100.0 | 0 | 0.00 | -100.0 | 0 | 12.08 | -56.22 | 0 |
| 20Q3 (7) | 34.18 | 57.44 | 0 | 2.64 | 119.34 | 0 | 4.71 | 140.22 | 0 | 4.71 | 140.12 | 0 | 0.31 | 141.33 | 0 | 0.29 | 144.62 | 0 | 0.06 | 0.0 | 0 | 21.21 | 556.66 | 0 | 19.01 | 58.15 | 0 | 50.00 | -50.0 | 0 | 50.00 | 300.0 | 0 | 27.59 | -13.59 | 0 |
| 20Q2 (6) | 21.71 | -20.42 | 0 | -13.65 | -457.33 | 0 | -11.71 | -470.57 | 0 | -11.74 | -471.52 | 0 | -0.75 | -568.75 | 0 | -0.65 | -482.35 | 0 | 0.06 | 20.0 | 0 | 3.23 | -86.54 | -83.0 | 12.02 | 10.68 | 0 | 100.00 | 0.0 | 88.24 | -25.00 | 0 | -153.33 | 31.93 | 0 | 0 |
| 20Q1 (5) | 27.28 | 0 | 0 | 3.82 | 0 | 0 | 3.16 | 0 | 0 | 3.16 | 0 | 0 | 0.16 | 0 | 0 | 0.17 | 0 | 0 | 0.05 | 0 | 0 | 24.00 | 0 | 0 | 10.86 | 0 | 0 | 100.00 | 0 | 0 | -0.00 | 0 | 0 | 0.00 | 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) | 17.09 | 3.08 | 0.56 | -93.75 | 5.66 | 118.77 | -3.15 | 0 | -3.23 | 0 | -3.61 | 0 | -0.40 | 0 | 0.29 | -54.69 | 4.87 | -45.95 | 310.25 | 22.23 | -16.67 | 0 | 116.67 | 0 | 0.22 | -23.48 | 9.09 | 90.97 |
| 2022 (9) | 16.58 | -13.56 | 8.96 | 39.78 | 2.59 | -23.99 | 5.64 | 15.1 | 5.45 | 11.22 | 10.60 | 79.36 | 3.93 | 14.91 | 0.64 | 6.67 | 9.01 | -3.33 | 253.82 | 73.56 | 158.33 | 21.51 | -58.33 | 0 | 0.29 | 0 | 4.76 | -31.71 |
| 2021 (8) | 19.18 | -21.3 | 6.41 | 232.12 | 3.40 | -72.62 | 4.90 | 78.83 | 4.90 | 117.78 | 5.91 | 667.53 | 3.42 | 418.18 | 0.60 | 130.77 | 9.32 | -39.4 | 146.24 | 203.15 | 130.30 | 117.17 | -30.30 | 0 | 0.00 | 0 | 6.97 | -65.63 |
| 2020 (7) | 24.37 | 0 | 1.93 | 0 | 12.43 | 0 | 2.74 | 0 | 2.25 | 0 | 0.77 | 0 | 0.66 | 0 | 0.26 | 0 | 15.38 | 0 | 48.24 | 0 | 60.00 | 0 | 20.00 | 0 | 0.00 | 0 | 20.28 | 0 |
