- 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) | 34.80 | -16.95 | 4.5 | -6.60 | -132.34 | -288.03 | -18.63 | -168.85 | -863.52 | -12.74 | -159.84 | -551.77 | -3.32 | -147.5 | -396.43 | -1.49 | -141.85 | -366.07 | 0.13 | -18.75 | -31.58 | -13.81 | -145.09 | -394.46 | 112.20 | 12.19 | -7.29 | 35.29 | -52.94 | -76.47 | 64.71 | 158.82 | 229.41 | 28.92 | 31.34 | 49.07 |
| 23Q3 (19) | 41.90 | 18.56 | 38.24 | 20.41 | 74.89 | 1738.74 | 27.06 | 157.22 | 174.72 | 21.29 | 97.5 | 115.27 | 6.99 | 113.11 | 168.85 | 3.56 | 111.9 | 171.76 | 0.16 | 6.67 | 23.08 | 30.63 | 133.28 | 103.39 | 100.01 | -6.13 | -5.14 | 75.00 | -31.52 | 500.0 | 25.00 | 362.5 | -73.33 | 22.02 | -13.0 | -15.34 |
| 23Q2 (18) | 35.34 | 1.58 | 124.1 | 11.67 | 85.24 | 279.54 | 10.52 | 73.03 | 305.47 | 10.78 | 300.74 | 350.12 | 3.28 | 256.52 | 323.13 | 1.68 | 242.86 | 354.55 | 0.15 | -6.25 | -11.76 | 13.13 | 45.08 | 1542.86 | 106.54 | 1.98 | -3.46 | 109.52 | 1.7 | -13.95 | -9.52 | 0 | 65.08 | 25.31 | 6.12 | 19.33 |
| 23Q1 (17) | 34.79 | 4.47 | 95.78 | 6.30 | 79.49 | 129.22 | 6.08 | 149.18 | 148.52 | 2.69 | -4.61 | 125.23 | 0.92 | -17.86 | 143.19 | 0.49 | -12.5 | 147.12 | 0.16 | -15.79 | 60.0 | 9.05 | 92.96 | 220.35 | 104.47 | -13.68 | 8.38 | 107.69 | -28.21 | -36.87 | 0.00 | 100.0 | 100.0 | 23.85 | 22.94 | -34.1 |
| 22Q4 (16) | 33.30 | 9.86 | 15.87 | 3.51 | 216.22 | -70.7 | 2.44 | -75.23 | -77.49 | 2.82 | -71.49 | -71.97 | 1.12 | -56.92 | -71.86 | 0.56 | -57.25 | -71.72 | 0.19 | 46.15 | 0.0 | 4.69 | -68.86 | -64.97 | 121.02 | 14.79 | 28.81 | 150.00 | 1100.0 | 34.48 | -50.00 | -153.33 | -333.33 | 19.40 | -25.41 | -11.7 |
| 22Q3 (15) | 30.31 | 92.2 | 8.72 | 1.11 | 117.08 | 377.5 | 9.85 | 292.38 | 5284.21 | 9.89 | 329.47 | 510.49 | 2.60 | 276.87 | 504.65 | 1.31 | 298.48 | 445.83 | 0.13 | -23.53 | 8.33 | 15.06 | 1754.95 | 348.21 | 105.43 | -4.47 | -13.15 | 12.50 | -90.18 | 0 | 93.75 | 443.75 | 0 | 26.01 | 22.63 | -9.34 |
| 22Q2 (14) | 15.77 | -11.25 | -32.14 | -6.50 | 69.85 | -185.19 | -5.12 | 59.14 | -218.24 | -4.31 | 59.57 | -157.31 | -1.47 | 30.99 | -156.54 | -0.66 | 36.54 | -151.56 | 0.17 | 70.0 | 0.0 | -0.91 | 87.9 | -113.58 | 110.36 | 14.49 | -0.92 | 127.27 | -25.39 | -32.12 | -27.27 | 61.36 | 63.64 | 21.21 | -41.39 | 4.64 |
| 22Q1 (13) | 17.77 | -38.17 | -24.32 | -21.56 | -279.97 | -155.75 | -12.53 | -215.59 | -47.07 | -10.66 | -205.96 | -26.9 | -2.13 | -153.52 | -48.95 | -1.04 | -152.53 | -52.94 | 0.10 | -47.37 | 11.11 | -7.52 | -156.16 | -137.97 | 96.39 | 2.6 | -10.09 | 170.59 | 52.94 | 70.59 | -70.59 | -511.76 | 0 | 36.19 | 64.72 | -18.73 |
| 21Q4 (12) | 28.74 | 3.08 | 1.02 | 11.98 | 3095.0 | 688.16 | 10.84 | 5805.26 | 726.59 | 10.06 | 520.99 | 770.67 | 3.98 | 825.58 | 1343.75 | 1.98 | 725.0 | 1750.0 | 0.19 | 58.33 | 58.33 | 13.39 | 298.51 | 302.1 | 93.95 | -22.6 | 11.89 | 111.54 | 0 | 211.54 | -11.54 | 0 | -105.77 | 21.97 | -23.42 | -12.89 |
| 21Q3 (11) | 27.88 | 19.97 | -4.32 | -0.40 | -105.24 | -103.51 | -0.19 | -104.39 | -102.36 | 1.62 | -78.46 | -79.04 | 0.43 | -83.46 | -82.08 | 0.24 | -81.25 | -82.73 | 0.12 | -29.41 | -29.41 | 3.36 | -49.85 | -69.76 | 121.39 | 8.98 | 54.4 | 0.00 | -100.0 | -100.0 | 0.00 | 100.0 | 100.0 | 28.69 | 41.54 | 44.17 |
| 21Q2 (10) | 23.24 | -1.02 | -19.45 | 7.63 | 190.51 | 323.89 | 4.33 | 150.82 | 146.02 | 7.52 | 189.52 | 213.33 | 2.60 | 281.82 | 381.48 | 1.28 | 288.24 | 265.71 | 0.17 | 88.89 | 30.77 | 6.70 | 312.03 | 5.51 | 111.39 | 3.9 | 40.54 | 187.50 | 87.5 | 87.5 | -75.00 | 0 | 0 | 20.27 | -54.48 | -23.25 |
| 21Q1 (9) | 23.48 | -17.47 | -16.74 | -8.43 | -654.61 | -527.92 | -8.52 | -392.49 | -295.41 | -8.40 | -460.0 | -328.26 | -1.43 | -346.87 | -276.54 | -0.68 | -466.67 | -233.33 | 0.09 | -25.0 | -30.77 | -3.16 | -194.89 | -136.49 | 107.21 | 27.68 | 42.47 | 100.00 | 200.0 | 100.0 | -0.00 | -100.0 | -100.0 | 44.53 | 76.57 | 70.22 |
| 20Q4 (8) | 28.45 | -2.37 | 5.88 | 1.52 | -86.68 | -73.84 | -1.73 | -121.49 | -54.46 | -1.50 | -119.4 | -23.97 | -0.32 | -113.33 | 11.11 | -0.12 | -108.63 | 29.41 | 0.12 | -29.41 | -29.41 | 3.33 | -70.03 | 87.08 | 83.97 | 6.8 | 14.14 | -100.00 | -170.0 | 80.0 | 200.00 | 566.67 | -66.67 | 25.22 | 26.73 | 14.79 |
| 20Q3 (7) | 29.14 | 1.01 | -0.24 | 11.41 | 533.89 | -8.35 | 8.05 | 357.39 | -30.72 | 7.73 | 222.08 | -20.8 | 2.40 | 344.44 | -33.52 | 1.39 | 297.14 | -30.5 | 0.17 | 30.77 | -15.0 | 11.11 | 74.96 | -22.95 | 78.62 | -0.81 | 7.43 | 142.86 | 42.86 | 31.87 | -42.86 | 0 | -414.29 | 19.90 | -24.65 | 18.66 |
| 20Q2 (6) | 28.85 | 2.3 | 3.63 | 1.80 | -8.63 | -86.09 | 1.76 | -59.63 | -87.68 | 2.40 | -34.78 | -81.8 | 0.54 | -33.33 | -88.75 | 0.35 | -31.37 | -86.49 | 0.13 | 0.0 | -31.58 | 6.35 | -26.67 | -63.0 | 79.26 | 5.33 | -18.46 | 100.00 | 100.0 | 11.54 | -0.00 | -100.0 | -100.0 | 26.41 | 0.96 | 45.99 |
| 20Q1 (5) | 28.20 | 4.95 | 25.0 | 1.97 | -66.09 | 132.14 | 4.36 | 489.29 | 913.95 | 3.68 | 404.13 | 3988.89 | 0.81 | 325.0 | 3950.0 | 0.51 | 400.0 | 750.0 | 0.13 | -23.53 | 0.0 | 8.66 | 386.52 | 81.93 | 75.25 | 2.28 | -7.13 | 50.00 | 110.0 | 106.25 | 50.00 | -91.67 | -93.75 | 26.16 | 19.07 | -4.53 |
| 19Q4 (4) | 26.87 | -8.01 | 0.0 | 5.81 | -53.33 | 0.0 | -1.12 | -109.64 | 0.0 | -1.21 | -112.4 | 0.0 | -0.36 | -109.97 | 0.0 | -0.17 | -108.5 | 0.0 | 0.17 | -15.0 | 0.0 | 1.78 | -87.66 | 0.0 | 73.57 | 0.53 | 0.0 | -500.00 | -561.54 | 0.0 | 600.00 | 7300.0 | 0.0 | 21.97 | 31.01 | 0.0 |
| 19Q3 (3) | 29.21 | 4.92 | 0.0 | 12.45 | -3.79 | 0.0 | 11.62 | -18.68 | 0.0 | 9.76 | -26.0 | 0.0 | 3.61 | -24.79 | 0.0 | 2.00 | -22.78 | 0.0 | 0.20 | 5.26 | 0.0 | 14.42 | -15.97 | 0.0 | 73.18 | -24.71 | 0.0 | 108.33 | 20.83 | 0.0 | -8.33 | -180.56 | 0.0 | 16.77 | -7.3 | 0.0 |
| 19Q2 (2) | 27.84 | 23.4 | 0.0 | 12.94 | 311.09 | 0.0 | 14.29 | 3223.26 | 0.0 | 13.19 | 14555.56 | 0.0 | 4.80 | 23900.0 | 0.0 | 2.59 | 4216.67 | 0.0 | 0.19 | 46.15 | 0.0 | 17.16 | 260.5 | 0.0 | 97.20 | 19.96 | 0.0 | 89.66 | 111.21 | 0.0 | 10.34 | -98.71 | 0.0 | 18.09 | -33.98 | 0.0 |
| 19Q1 (1) | 22.56 | 0.0 | 0.0 | -6.13 | 0.0 | 0.0 | 0.43 | 0.0 | 0.0 | 0.09 | 0.0 | 0.0 | 0.02 | 0.0 | 0.0 | 0.06 | 0.0 | 0.0 | 0.13 | 0.0 | 0.0 | 4.76 | 0.0 | 0.0 | 81.03 | 0.0 | 0.0 | -800.00 | 0.0 | 0.0 | 800.00 | 0.0 | 0.0 | 27.40 | 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) | 36.85 | 47.22 | 8.57 | 0 | 2.31 | -28.44 | 7.38 | 0 | 6.27 | 0 | 7.78 | 0 | 3.96 | 1880.0 | 0.57 | 0.0 | 10.83 | 235.29 | 112.20 | -7.29 | 114.75 | -82.07 | -16.39 | 0 | 0.21 | -1.87 | 24.82 | 2.48 |
| 2022 (9) | 25.03 | -4.61 | -4.15 | 0 | 3.23 | 21.3 | -0.68 | 0 | 0.00 | 0 | 0.00 | 0 | 0.20 | -93.38 | 0.57 | -1.72 | 3.23 | -54.51 | 121.02 | 28.81 | 640.00 | 375.43 | -540.00 | 0 | 0.21 | -8.87 | 24.22 | -7.27 |
| 2021 (8) | 26.24 | -8.57 | 5.15 | 7.29 | 2.66 | -19.38 | 3.84 | 7.56 | 4.88 | 39.03 | 5.37 | 59.35 | 3.02 | 45.19 | 0.58 | 7.41 | 7.10 | -5.59 | 93.95 | 11.89 | 134.62 | -1.63 | -34.62 | 0 | 0.23 | 0 | 26.12 | 8.65 |
| 2020 (7) | 28.70 | 6.02 | 4.80 | -37.5 | 3.30 | 29.91 | 3.57 | -51.36 | 3.51 | -45.07 | 3.37 | -57.66 | 2.08 | -57.11 | 0.54 | -26.03 | 7.52 | -28.04 | 83.97 | 14.14 | 136.84 | 31.77 | -36.84 | 0 | 0.00 | 0 | 24.04 | 18.48 |
| 2019 (6) | 27.07 | -11.1 | 7.68 | 8.32 | 2.54 | 92.9 | 7.34 | -27.47 | 6.39 | -26.72 | 7.96 | -15.05 | 4.85 | -16.23 | 0.73 | 12.31 | 10.45 | -14.27 | 73.57 | 6.24 | 103.85 | 47.32 | -3.85 | 0 | 0.00 | 0 | 20.29 | -15.28 |
| 2018 (5) | 30.45 | -12.07 | 7.09 | -49.61 | 1.32 | 32.02 | 10.12 | -22.57 | 8.72 | -22.35 | 9.37 | -25.93 | 5.79 | -30.32 | 0.65 | -10.96 | 12.19 | -16.73 | 69.25 | 14.29 | 70.49 | -34.48 | 29.51 | 0 | 0.21 | 0 | 23.95 | 10.11 |
| 2017 (4) | 34.63 | 52.82 | 14.07 | 0 | 1.00 | -50.08 | 13.07 | 0 | 11.23 | 0 | 12.65 | 0 | 8.31 | 0 | 0.73 | 82.5 | 14.64 | 0 | 60.59 | 31.15 | 107.59 | 11.44 | -7.59 | 0 | 0.00 | 0 | 21.75 | -45.67 |
| 2016 (3) | 22.66 | -15.51 | -18.51 | 0 | 2.00 | 65.67 | -19.31 | 0 | -16.61 | 0 | -9.31 | 0 | -6.58 | 0 | 0.40 | -27.27 | -16.33 | 0 | 46.20 | 37.5 | 96.55 | -65.24 | 3.45 | 0 | 0.00 | 0 | 40.03 | 56.98 |
| 2015 (2) | 26.82 | -32.51 | -4.99 | 0 | 1.21 | 84.23 | -1.82 | 0 | -2.21 | 0 | -1.79 | 0 | -1.14 | 0 | 0.55 | -31.25 | 0.80 | -96.47 | 33.60 | -40.2 | 277.78 | 229.6 | -177.78 | 0 | 0.00 | 0 | 25.50 | 27.95 |
| 2014 (1) | 39.74 | 0 | 17.59 | 0 | 0.66 | -16.45 | 20.86 | 0 | 16.96 | 0 | 24.37 | 0 | 13.79 | 0 | 0.80 | -15.79 | 22.67 | 16.38 | 56.19 | -51.26 | 84.28 | 7.47 | 15.72 | -24.64 | 0.00 | 0 | 19.93 | 15.67 |
