- 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) | 11.52 | -14.03 | -32.35 | 0.63 | 14.55 | -90.69 | -5.20 | 17.98 | 49.07 | -6.74 | -1.81 | 36.83 | -4.62 | -9.74 | 33.14 | -0.81 | -5.19 | 55.0 | 0.21 | 5.0 | 0.0 | 14.33 | 9.39 | 123.91 | 234.75 | 3.46 | 7.83 | -11.76 | -17.65 | 82.35 | 111.76 | 1.6 | -34.14 | 39.32 | -10.19 | 18.18 |
| 23Q3 (19) | 13.40 | -28.34 | 0.3 | 0.55 | -91.21 | -47.12 | -6.34 | -306.51 | -298.74 | -6.62 | -457.84 | -261.75 | -4.21 | -475.89 | -367.78 | -0.77 | -182.8 | -3950.0 | 0.20 | 0.0 | 11.11 | 13.10 | -40.86 | -21.08 | 226.91 | 11.35 | 15.92 | -10.00 | -104.74 | 86.67 | 110.00 | 199.0 | -37.14 | 43.78 | 11.83 | 21.38 |
| 23Q2 (18) | 18.70 | 43.63 | 21.27 | 6.26 | 645.24 | 105.92 | 3.07 | 1379.17 | 23.79 | 1.85 | 325.61 | 12.8 | 1.12 | 338.3 | 47.37 | 0.93 | 151.35 | 40.91 | 0.20 | 11.11 | 11.11 | 22.15 | 14.47 | 3.22 | 203.78 | -4.75 | 27.39 | 211.11 | 205.56 | 58.33 | -111.11 | -137.04 | -566.67 | 39.15 | -1.31 | 13.05 |
| 23Q1 (17) | 13.02 | -23.55 | -9.01 | 0.84 | -87.59 | -66.13 | -0.24 | 97.65 | -143.64 | -0.82 | 92.31 | -1740.0 | -0.47 | 93.2 | -2450.0 | 0.37 | 120.56 | 12.12 | 0.18 | -14.29 | 5.88 | 19.35 | 202.34 | 4.14 | 213.95 | -1.73 | 39.65 | -200.00 | -200.0 | -133.33 | 300.00 | 76.79 | 175.0 | 39.67 | 19.24 | 14.65 |
| 22Q4 (16) | 17.03 | 27.47 | -1.45 | 6.77 | 550.96 | 8.67 | -10.21 | -542.14 | -206.47 | -10.67 | -483.06 | -242.84 | -6.91 | -667.78 | -266.11 | -1.80 | -9100.0 | -192.78 | 0.21 | 16.67 | 0.0 | 6.40 | -61.45 | -74.03 | 217.71 | 11.22 | 40.95 | -66.67 | 11.11 | -205.88 | 169.70 | -3.03 | 409.09 | 33.27 | -7.76 | 12.86 |
| 22Q3 (15) | 13.36 | -13.36 | -23.17 | 1.04 | -65.79 | -77.73 | -1.59 | -164.11 | -125.16 | -1.83 | -211.59 | -137.89 | -0.90 | -218.42 | -145.69 | 0.02 | -96.97 | -98.23 | 0.18 | 0.0 | 5.88 | 16.60 | -22.65 | -28.69 | 195.75 | 22.37 | 11.28 | -75.00 | -156.25 | -202.27 | 175.00 | 1150.0 | 556.25 | 36.07 | 4.16 | 9.74 |
| 22Q2 (14) | 15.42 | 7.76 | -20.39 | 3.04 | 22.58 | -29.3 | 2.48 | 350.91 | -19.48 | 1.64 | 3180.0 | 10.07 | 0.76 | 3700.0 | 46.15 | 0.66 | 100.0 | 22.22 | 0.18 | 5.88 | 12.5 | 21.46 | 15.5 | 4.12 | 159.96 | 4.41 | 37.52 | 133.33 | -77.78 | -6.67 | -16.67 | 95.83 | 61.11 | 34.63 | 0.09 | 6.92 |
| 22Q1 (13) | 14.31 | -17.19 | -22.06 | 2.48 | -60.19 | -27.91 | 0.55 | -94.26 | -84.89 | 0.05 | -99.33 | -98.29 | 0.02 | -99.52 | -97.92 | 0.33 | -82.99 | -56.58 | 0.17 | -19.05 | 13.33 | 18.58 | -24.59 | -13.42 | 153.20 | -0.82 | 31.3 | 600.00 | 852.94 | 500.0 | -400.00 | -1300.0 | 0 | 34.60 | 17.37 | 1.47 |
| 21Q4 (12) | 17.28 | -0.63 | -28.74 | 6.23 | 33.4 | -53.09 | 9.59 | 51.74 | -37.03 | 7.47 | 54.66 | -50.89 | 4.16 | 111.17 | -39.62 | 1.94 | 71.68 | -44.73 | 0.21 | 23.53 | 0.0 | 24.64 | 5.84 | -13.91 | 154.46 | -12.19 | 38.24 | 62.96 | -14.14 | -27.1 | 33.33 | 25.0 | 144.44 | 29.48 | -10.31 | 2.72 |
| 21Q3 (11) | 17.39 | -10.22 | -25.2 | 4.67 | 8.6 | -57.55 | 6.32 | 105.19 | -47.02 | 4.83 | 224.16 | -52.79 | 1.97 | 278.85 | -51.95 | 1.13 | 109.26 | -47.2 | 0.17 | 6.25 | -5.56 | 23.28 | 12.95 | -17.48 | 175.90 | 51.22 | 49.61 | 73.33 | -48.67 | -21.03 | 26.67 | 162.22 | 273.33 | 32.87 | 1.48 | 6.44 |
| 21Q2 (10) | 19.37 | 5.5 | 53.37 | 4.30 | 25.0 | 425.76 | 3.08 | -15.38 | -82.24 | 1.49 | -48.97 | -90.93 | 0.52 | -45.83 | -90.35 | 0.54 | -28.95 | -79.78 | 0.16 | 6.67 | 14.29 | 20.61 | -3.96 | -46.19 | 116.32 | -0.31 | -11.0 | 142.86 | 42.86 | 2457.14 | -42.86 | 0 | -140.41 | 32.39 | -5.01 | 0 |
| 21Q1 (9) | 18.36 | -24.29 | 35.3 | 3.44 | -74.1 | 864.44 | 3.64 | -76.1 | 160.0 | 2.92 | -80.8 | 841.94 | 0.96 | -86.07 | 860.0 | 0.76 | -78.35 | 100.0 | 0.15 | -28.57 | 0.0 | 21.46 | -25.02 | -1.2 | 116.68 | 4.43 | -9.3 | 100.00 | 15.79 | 400.0 | 0.00 | -100.0 | -100.0 | 34.10 | 18.82 | 0 |
| 20Q4 (8) | 24.25 | 4.3 | 4.66 | 13.28 | 20.73 | -2.64 | 15.23 | 27.66 | -53.27 | 15.21 | 48.68 | -51.67 | 6.89 | 68.05 | -59.4 | 3.51 | 64.02 | -51.65 | 0.21 | 16.67 | -4.55 | 28.62 | 1.45 | -37.5 | 111.73 | -4.97 | -15.07 | 86.36 | -6.99 | 104.32 | 13.64 | 90.91 | -76.38 | 28.70 | -7.06 | 8.79 |
| 20Q3 (7) | 23.25 | 84.09 | 19.54 | 11.00 | 933.33 | 393.27 | 11.93 | -31.2 | 416.45 | 10.23 | -37.7 | 547.47 | 4.10 | -23.93 | 400.0 | 2.14 | -19.85 | 239.68 | 0.18 | 28.57 | -10.0 | 28.21 | -26.34 | 21.65 | 117.57 | -10.04 | -26.96 | 92.86 | 1632.14 | -7.14 | 7.14 | -93.27 | 0 | 30.88 | 0 | 0.85 |
| 20Q2 (6) | 12.63 | -6.93 | -5.68 | -1.32 | -193.33 | 72.21 | 17.34 | 1138.57 | 728.26 | 16.42 | 5196.77 | 678.17 | 5.39 | 5290.0 | 505.26 | 2.67 | 602.63 | 1435.0 | 0.14 | -6.67 | -22.22 | 38.30 | 76.34 | 92.27 | 130.69 | 1.59 | -19.03 | -6.06 | 81.82 | -103.86 | 106.06 | -20.45 | 248.48 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 13.57 | -41.43 | 19.98 | -0.45 | -103.3 | 95.28 | 1.40 | -95.7 | 111.54 | 0.31 | -99.01 | 102.56 | 0.10 | -99.41 | 102.02 | 0.38 | -94.77 | 120.88 | 0.15 | -31.82 | -16.67 | 21.72 | -52.57 | 64.05 | 128.64 | -2.21 | -20.75 | -33.33 | -178.86 | -142.86 | 133.33 | 130.95 | 500.0 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 23.17 | 19.13 | 0.0 | 13.64 | 511.66 | 0.0 | 32.59 | 1310.82 | 0.0 | 31.47 | 1891.77 | 0.0 | 16.97 | 1969.51 | 0.0 | 7.26 | 1052.38 | 0.0 | 0.22 | 10.0 | 0.0 | 45.79 | 97.46 | 0.0 | 131.55 | -18.28 | 0.0 | 42.27 | -57.73 | 0.0 | 57.73 | 0 | 0.0 | 26.38 | -13.85 | 0.0 |
| 19Q3 (3) | 19.45 | 45.26 | 0.0 | 2.23 | 146.95 | 0.0 | 2.31 | 183.7 | 0.0 | 1.58 | 155.63 | 0.0 | 0.82 | 161.65 | 0.0 | 0.63 | 415.0 | 0.0 | 0.20 | 11.11 | 0.0 | 23.19 | 16.42 | 0.0 | 160.97 | -0.27 | 0.0 | 100.00 | -36.36 | 0.0 | 0.00 | 100.0 | 0.0 | 30.62 | -12.21 | 0.0 |
| 19Q2 (2) | 13.39 | 18.39 | 0.0 | -4.75 | 50.16 | 0.0 | -2.76 | 77.25 | 0.0 | -2.84 | 76.59 | 0.0 | -1.33 | 73.19 | 0.0 | -0.20 | 89.01 | 0.0 | 0.18 | 0.0 | 0.0 | 19.92 | 50.45 | 0.0 | 161.41 | -0.57 | 0.0 | 157.14 | 102.04 | 0.0 | -71.43 | -421.43 | 0.0 | 34.88 | -3.46 | 0.0 |
| 19Q1 (1) | 11.31 | 0.0 | 0.0 | -9.53 | 0.0 | 0.0 | -12.13 | 0.0 | 0.0 | -12.13 | 0.0 | 0.0 | -4.96 | 0.0 | 0.0 | -1.82 | 0.0 | 0.0 | 0.18 | 0.0 | 0.0 | 13.24 | 0.0 | 0.0 | 162.33 | 0.0 | 0.0 | 77.78 | 0.0 | 0.0 | 22.22 | 0.0 | 0.0 | 36.13 | 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) | 14.10 | -7.11 | 2.03 | -43.45 | 15.60 | 3.25 | -2.33 | 0 | -3.25 | 0 | -8.28 | 0 | -0.32 | 0 | 0.78 | 6.85 | 17.08 | 13.79 | 234.75 | 7.83 | -89.29 | 0 | 189.29 | -16.49 | 9.43 | 1.53 | 40.51 | 17.22 |
| 2022 (9) | 15.18 | -15.9 | 3.59 | -24.58 | 15.11 | 5.76 | -2.85 | 0 | -3.35 | 0 | -6.98 | 0 | -0.98 | 0 | 0.73 | 5.8 | 15.01 | -33.96 | 217.71 | 40.95 | -126.67 | 0 | 226.67 | 1074.55 | 9.28 | 58.07 | 34.56 | 7.87 |
| 2021 (8) | 18.05 | -6.33 | 4.76 | -28.85 | 14.29 | -2.99 | 5.90 | -50.0 | 4.37 | -60.02 | 7.00 | -55.3 | 4.34 | -47.58 | 0.69 | 6.15 | 22.73 | -21.65 | 154.46 | 38.24 | 80.70 | 41.56 | 19.30 | -56.07 | 5.87 | -7.39 | 32.04 | 5.74 |
| 2020 (7) | 19.27 | 11.0 | 6.69 | 384.78 | 14.73 | -17.47 | 11.80 | 72.51 | 10.93 | 73.22 | 15.66 | 40.57 | 8.28 | 27.78 | 0.65 | -19.75 | 29.01 | 7.6 | 111.73 | -15.07 | 57.01 | 185.05 | 43.93 | -45.09 | 6.34 | -7.2 | 30.30 | -4.05 |
| 2019 (6) | 17.36 | -1.59 | 1.38 | 0 | 17.84 | 472.83 | 6.84 | 111.76 | 6.31 | 141.76 | 11.14 | 149.78 | 6.48 | 121.16 | 0.81 | -4.71 | 26.96 | 243.88 | 131.55 | 30.05 | 20.00 | 0 | 80.00 | -50.0 | 6.83 | -31.29 | 31.58 | -3.6 |
| 2018 (5) | 17.64 | -16.36 | -1.96 | 0 | 3.11 | 8.79 | 3.23 | -42.53 | 2.61 | -49.12 | 4.46 | -53.2 | 2.93 | -44.82 | 0.85 | -3.41 | 7.84 | -22.14 | 101.15 | -1.57 | -60.00 | 0 | 160.00 | 465.33 | 9.95 | 0 | 32.76 | 3.77 |
| 2017 (4) | 21.09 | 131.25 | 4.04 | 0 | 2.86 | -20.52 | 5.62 | 0 | 5.13 | 0 | 9.53 | 0 | 5.31 | 0 | 0.88 | 11.39 | 10.07 | 0 | 102.76 | -15.69 | 71.70 | -20.24 | 28.30 | 179.87 | 0.00 | 0 | 31.57 | -3.93 |
| 2016 (3) | 9.12 | -31.94 | -8.73 | 0 | 3.60 | 8.64 | -9.70 | 0 | -10.67 | 0 | -17.94 | 0 | -7.40 | 0 | 0.79 | -9.2 | -4.04 | 0 | 121.89 | 14.32 | 89.89 | 1.87 | 10.11 | -14.04 | 0.00 | 0 | 32.86 | 7.21 |
| 2015 (2) | 13.40 | 55.09 | -7.80 | 0 | 3.32 | -11.53 | -8.78 | 0 | -9.48 | 0 | -14.09 | 0 | -7.51 | 0 | 0.87 | 22.54 | -3.94 | 0 | 106.62 | 167.89 | 88.24 | -69.94 | 11.76 | 0 | 0.00 | 0 | 30.65 | -18.29 |
| 2014 (1) | 8.64 | 0 | -13.68 | 0 | 3.75 | -17.94 | -4.70 | 0 | -5.73 | 0 | -5.72 | 0 | -3.77 | 0 | 0.71 | 47.92 | 0.15 | 0 | 39.80 | -1.14 | 293.55 | 84.52 | -193.55 | 0 | 0.00 | 0 | 37.51 | -15.5 |
