- 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) | 23.91 | -42.69 | -35.81 | -30.55 | -2627.68 | -503.75 | 187.05 | 622.76 | 10667.8 | 190.96 | 694.34 | 10422.16 | 16.22 | 644.04 | 9111.11 | 13.43 | 564.85 | 8493.75 | 0.07 | -12.5 | -22.22 | 190.59 | 532.77 | 8186.52 | 32.02 | 290.49 | 269.75 | -16.46 | -245.57 | -108.23 | 116.46 | 11.16 | 177.64 | 29.87 | 45.14 | 25.29 |
| 23Q3 (19) | 41.72 | 19.1 | 13.09 | -1.12 | 93.9 | -1020.0 | 25.88 | 300.62 | 884.03 | 24.04 | 277.16 | 1792.91 | 2.18 | 267.69 | 1716.67 | 2.02 | 269.75 | 1736.36 | 0.08 | -11.11 | 0.0 | 30.12 | 427.39 | 326.63 | 8.20 | -2.38 | -2.73 | -4.76 | -103.27 | 0 | 104.76 | 330.48 | 4.76 | 20.58 | 28.06 | 14.59 |
| 23Q2 (18) | 35.03 | -15.22 | -3.07 | -18.35 | 38.79 | -96.47 | -12.90 | 53.78 | -159.56 | -13.57 | 52.91 | -133.97 | -1.30 | 46.94 | -202.33 | -1.19 | 47.35 | -205.13 | 0.09 | 12.5 | 28.57 | -9.20 | 60.14 | -417.24 | 8.40 | -2.1 | -7.79 | 145.45 | 39.13 | -27.27 | -45.45 | -400.0 | 54.55 | 16.07 | -24.38 | -27.29 |
| 23Q1 (17) | 41.32 | 10.93 | 14.02 | -29.98 | -492.49 | -737.43 | -27.91 | -1476.84 | -998.82 | -28.82 | -1457.84 | -1057.43 | -2.45 | -1261.11 | -1125.0 | -2.26 | -1312.5 | -1155.56 | 0.08 | -11.11 | 14.29 | -23.08 | -1103.48 | -977.57 | 8.58 | -0.92 | -10.06 | 104.55 | -47.73 | -30.3 | -9.09 | 93.94 | 81.82 | 21.25 | -10.86 | -6.84 |
| 22Q4 (16) | 37.25 | 0.98 | 1.14 | -5.06 | -4960.0 | -169.89 | -1.77 | -167.3 | -117.47 | -1.85 | -245.67 | -118.69 | -0.18 | -250.0 | -120.45 | -0.16 | -245.45 | -119.51 | 0.09 | 12.5 | 12.5 | 2.30 | -67.42 | -84.28 | 8.66 | 2.73 | -6.38 | 200.00 | 0 | 166.67 | -150.00 | -250.0 | -700.0 | 23.84 | 32.74 | -9.35 |
| 22Q3 (15) | 36.89 | 2.08 | 13.16 | -0.10 | 98.93 | 98.11 | 2.63 | 152.92 | 198.86 | 1.27 | 121.9 | 44.32 | 0.12 | 127.91 | 140.0 | 0.11 | 128.21 | 120.0 | 0.08 | 14.29 | 33.33 | 7.06 | 143.45 | -1.12 | 8.43 | -7.46 | 24.15 | 0.00 | -100.0 | 0 | 100.00 | 200.0 | 0 | 17.96 | -18.73 | -17.92 |
| 22Q2 (14) | 36.14 | -0.28 | -1.87 | -9.34 | -160.89 | -567.14 | -4.97 | -95.67 | -1283.33 | -5.80 | -132.93 | -574.42 | -0.43 | -115.0 | -760.0 | -0.39 | -116.67 | -875.0 | 0.07 | 0.0 | 40.0 | 2.90 | 10.27 | -50.68 | 9.11 | -4.51 | 28.85 | 200.00 | 33.33 | 0 | -100.00 | -100.0 | 0 | 22.10 | -3.11 | -4.08 |
| 22Q1 (13) | 36.24 | -1.6 | 17.17 | -3.58 | -149.45 | 39.73 | -2.54 | -125.07 | 62.92 | -2.49 | -125.15 | 55.85 | -0.20 | -122.73 | 41.18 | -0.18 | -121.95 | 41.94 | 0.07 | -12.5 | 16.67 | 2.63 | -82.02 | 0 | 9.54 | 3.14 | 38.46 | 150.00 | 100.0 | 100.0 | -50.00 | -300.0 | 0 | 22.81 | -13.27 | 4.39 |
| 21Q4 (12) | 36.83 | 12.98 | 124.16 | 7.24 | 237.12 | 142.92 | 10.13 | 1051.14 | 163.19 | 9.90 | 1025.0 | 177.04 | 0.88 | 1660.0 | 168.75 | 0.82 | 1540.0 | 172.57 | 0.08 | 33.33 | -11.11 | 14.63 | 104.9 | 226.78 | 9.25 | 36.23 | 3.12 | 75.00 | 0 | -30.77 | 25.00 | 0 | 400.0 | 26.30 | 20.2 | 44.9 |
| 21Q3 (11) | 32.60 | -11.49 | -6.88 | -5.28 | -277.14 | -31.02 | 0.88 | 109.52 | -80.22 | 0.88 | 202.33 | -90.48 | 0.05 | 200.0 | -93.51 | 0.05 | 225.0 | -92.54 | 0.06 | 20.0 | -14.29 | 7.14 | 21.43 | -35.73 | 6.79 | -3.96 | -55.59 | 0.00 | 0 | 100.0 | 0.00 | 0 | -100.0 | 21.88 | -5.03 | -2.28 |
| 21Q2 (10) | 36.83 | 19.08 | 364.39 | -1.40 | 76.43 | 96.96 | 0.42 | 106.13 | 100.93 | -0.86 | 84.75 | 97.76 | -0.05 | 85.29 | 98.62 | -0.04 | 87.1 | 98.68 | 0.05 | -16.67 | -37.5 | 5.88 | 0 | 115.05 | 7.07 | 2.61 | -63.97 | 0.00 | -100.0 | -100.0 | 0.00 | 0 | 100.0 | 23.04 | 5.45 | 0 |
| 21Q1 (9) | 30.93 | 88.25 | 22.06 | -5.94 | 64.79 | -21.97 | -6.85 | 57.27 | -85.64 | -5.64 | 56.11 | -31.16 | -0.34 | 73.44 | 26.09 | -0.31 | 72.57 | 13.89 | 0.06 | -33.33 | -33.33 | 0.00 | 100.0 | -100.0 | 6.89 | -23.19 | -62.9 | 75.00 | -30.77 | -43.75 | -0.00 | 100.0 | 100.0 | 21.85 | 20.39 | 0 |
| 20Q4 (8) | 16.43 | -53.07 | 16.28 | -16.87 | -318.61 | 9.98 | -16.03 | -460.22 | 14.05 | -12.85 | -239.07 | 23.42 | -1.28 | -266.23 | 37.86 | -1.13 | -268.66 | 30.25 | 0.09 | 28.57 | -10.0 | -11.54 | -203.87 | 9.77 | 8.97 | -41.33 | -61.27 | 108.33 | 208.33 | 8.33 | -8.33 | -103.33 | 0 | 18.15 | -18.94 | -1.79 |
| 20Q3 (7) | 35.01 | 351.33 | 3.67 | -4.03 | 91.24 | -205.3 | 4.45 | 109.85 | 493.81 | 9.24 | 124.07 | 728.57 | 0.77 | 121.21 | 650.0 | 0.67 | 122.11 | 1057.14 | 0.07 | -12.5 | -12.5 | 11.11 | 128.44 | 94.57 | 15.29 | -22.07 | -41.24 | -100.00 | -200.0 | -200.0 | 250.00 | 7350.0 | 0 | 22.39 | 0 | 14.23 |
| 20Q2 (6) | -13.93 | -154.97 | -146.92 | -46.00 | -844.56 | -2559.89 | -45.17 | -1124.12 | -1966.53 | -38.39 | -792.79 | -1954.59 | -3.63 | -689.13 | -1396.43 | -3.03 | -741.67 | -1265.38 | 0.08 | -11.11 | -20.0 | -39.06 | -1546.67 | -635.8 | 19.62 | 5.65 | -28.99 | 100.00 | -25.0 | 0.0 | -3.45 | 89.66 | -106.9 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 25.34 | 79.33 | -2.69 | -4.87 | 74.01 | 18.43 | -3.69 | 80.21 | 69.38 | -4.30 | 74.37 | 64.32 | -0.46 | 77.67 | 70.13 | -0.36 | 77.78 | 61.29 | 0.09 | -10.0 | 0.0 | 2.70 | 121.11 | 149.18 | 18.57 | -19.82 | -51.2 | 133.33 | 33.33 | 193.33 | -33.33 | 0 | -161.11 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 14.13 | -58.16 | 0.0 | -18.74 | -1319.7 | 0.0 | -18.65 | -1550.44 | 0.0 | -16.78 | -1041.5 | 0.0 | -2.06 | -1371.43 | 0.0 | -1.62 | -2214.29 | 0.0 | 0.10 | 25.0 | 0.0 | -12.79 | -323.99 | 0.0 | 23.16 | -10.99 | 0.0 | 100.00 | 0.0 | 0.0 | -0.00 | 0 | 0.0 | 18.48 | -5.71 | 0.0 |
| 19Q3 (3) | 33.77 | 13.74 | 0.0 | -1.32 | -170.59 | 0.0 | -1.13 | -146.69 | 0.0 | -1.47 | -171.01 | 0.0 | -0.14 | -150.0 | 0.0 | -0.07 | -126.92 | 0.0 | 0.08 | -20.0 | 0.0 | 5.71 | -21.67 | 0.0 | 26.02 | -5.83 | 0.0 | 100.00 | 0.0 | 0.0 | -0.00 | -100.0 | 0.0 | 19.60 | 25.64 | 0.0 |
| 19Q2 (2) | 29.69 | 14.02 | 0.0 | 1.87 | 131.32 | 0.0 | 2.42 | 120.08 | 0.0 | 2.07 | 117.18 | 0.0 | 0.28 | 118.18 | 0.0 | 0.26 | 127.96 | 0.0 | 0.10 | 11.11 | 0.0 | 7.29 | 232.79 | 0.0 | 27.63 | -27.39 | 0.0 | 100.00 | 120.0 | 0.0 | 50.00 | -8.33 | 0.0 | 15.60 | -15.86 | 0.0 |
| 19Q1 (1) | 26.04 | 0.0 | 0.0 | -5.97 | 0.0 | 0.0 | -12.05 | 0.0 | 0.0 | -12.05 | 0.0 | 0.0 | -1.54 | 0.0 | 0.0 | -0.93 | 0.0 | 0.0 | 0.09 | 0.0 | 0.0 | -5.49 | 0.0 | 0.0 | 38.05 | 0.0 | 0.0 | 45.45 | 0.0 | 0.0 | 54.55 | 0.0 | 0.0 | 18.54 | 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) | 35.35 | -3.6 | -19.89 | 0 | 3.90 | -11.33 | 44.04 | 0 | 44.18 | 0 | 14.75 | 0 | 12.19 | 0 | 0.28 | -9.68 | 48.65 | 1190.45 | 32.02 | 269.75 | -44.90 | 0 | 144.90 | 0 | 1.42 | -28.95 | 21.92 | 1.29 |
| 2022 (9) | 36.67 | 6.14 | -4.31 | 0 | 4.40 | -18.05 | -1.47 | 0 | -2.03 | 0 | -0.69 | 0 | -0.63 | 0 | 0.31 | 29.17 | 3.77 | -51.97 | 8.66 | -6.38 | 280.00 | 0 | -180.00 | 0 | 1.99 | 1.69 | 21.64 | -8.34 |
| 2021 (8) | 34.55 | 123.91 | -0.38 | 0 | 5.37 | -3.31 | 2.18 | 0 | 2.10 | 0 | 0.55 | 0 | 0.51 | 0 | 0.24 | -17.24 | 7.85 | 0 | 9.25 | 3.12 | -20.00 | 0 | 120.00 | 0 | 1.96 | 1837.32 | 23.61 | 21.51 |
| 2020 (7) | 15.43 | -39.82 | -17.88 | 0 | 5.56 | 5.86 | -15.41 | 0 | -12.10 | 0 | -4.08 | 0 | -3.48 | 0 | 0.29 | -17.14 | -9.26 | 0 | 8.97 | -61.27 | 114.29 | 36.05 | -16.67 | 0 | 0.10 | -13.45 | 19.43 | 8.43 |
| 2019 (6) | 25.64 | -6.15 | -6.03 | 0 | 5.25 | 40.64 | -7.42 | 0 | -7.12 | 0 | -3.47 | 0 | -2.24 | 0 | 0.35 | 6.06 | -1.17 | 0 | 23.16 | -59.1 | 84.00 | 0 | 20.00 | -98.67 | 0.12 | 30.72 | 17.92 | -7.82 |
| 2018 (5) | 27.32 | 8.16 | -10.52 | 0 | 3.73 | 8.21 | 0.69 | 0 | 0.08 | 0 | 0.05 | 0 | 0.62 | 0 | 0.33 | -5.71 | 6.97 | 0 | 56.62 | -36.27 | -1400.00 | 0 | 1500.00 | 1883.61 | 0.09 | 0 | 19.44 | 30.03 |
| 2017 (4) | 25.26 | -29.08 | -11.35 | 0 | 3.45 | 26.98 | -46.37 | 0 | -46.91 | 0 | -29.45 | 0 | -15.98 | 0 | 0.35 | -10.26 | -40.61 | 0 | 88.85 | 24.86 | 24.38 | -78.19 | 75.62 | 0 | 0.00 | 0 | 14.95 | 11.4 |
| 2016 (3) | 35.62 | -4.45 | 6.03 | -50.82 | 2.72 | 20.24 | 5.37 | -37.78 | 2.88 | -44.72 | 1.85 | -56.78 | 1.54 | -53.61 | 0.39 | -29.09 | 9.90 | -19.51 | 71.16 | 17.43 | 111.76 | -21.31 | -11.76 | 0 | 0.00 | 0 | 13.42 | 27.93 |
| 2015 (2) | 37.28 | 15.63 | 12.26 | 1277.53 | 2.26 | -26.1 | 8.63 | 442.77 | 5.21 | 316.8 | 4.28 | 435.0 | 3.32 | 348.65 | 0.55 | 14.58 | 12.30 | 107.07 | 60.60 | 62.21 | 142.03 | 155.65 | -42.03 | 0 | 0.00 | 0 | 10.49 | -14.23 |
| 2014 (1) | 32.24 | 0 | 0.89 | 0 | 3.06 | -26.9 | 1.59 | 0 | 1.25 | 0 | 0.80 | 0 | 0.74 | 0 | 0.48 | -11.11 | 5.94 | -6.46 | 37.36 | 35.51 | 55.56 | -16.67 | 44.44 | 33.33 | 0.00 | 0 | 12.23 | -3.62 |
