- 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 | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 21Q3 (20) | 11.82 | 191.13 | -61.94 | -78.72 | -51.04 | -23.73 | -88.70 | 44.22 | 53.79 | -88.71 | 44.28 | 53.79 | -159.82 | -82.32 | -338.46 | -6.30 | 42.68 | 48.49 | 0.08 | 14.29 | 14.29 | -58.75 | 52.58 | 64.35 | 12839.30 | 990.79 | 5653.66 | 88.73 | 170.32 | 167.67 | 11.27 | -83.23 | -83.14 | 0.00 | -100.0 | 0 |
| 21Q2 (19) | 4.06 | 174.32 | -88.9 | -52.12 | 16.81 | 38.94 | -159.02 | -86.47 | -87.46 | -159.21 | -87.7 | -87.73 | -87.66 | -236.25 | -645.41 | -10.99 | -129.92 | -156.78 | 0.07 | 16.67 | 16.67 | -123.89 | -146.74 | -122.14 | 1177.06 | 168.12 | 652.98 | 32.82 | -55.26 | -67.32 | 67.18 | 152.23 | 14945.8 | 51.95 | 0 | 0 |
| 21Q1 (18) | 1.48 | -94.07 | -94.18 | -62.65 | 9.97 | -60.81 | -85.28 | 41.57 | -49.4 | -84.82 | 42.32 | -48.6 | -26.07 | 31.23 | -267.7 | -4.78 | 50.21 | -84.56 | 0.06 | -14.29 | 0.0 | -50.21 | 55.96 | -96.36 | 439.01 | 34.27 | 234.33 | 73.37 | 53.72 | 7.17 | 26.63 | -49.05 | -15.57 | 0.00 | 0 | 0 |
| 20Q4 (17) | 24.94 | -19.7 | -61.29 | -69.59 | -9.38 | -273.71 | -145.95 | 23.97 | -507.34 | -147.06 | 23.39 | -692.98 | -37.91 | -4.01 | -773.36 | -9.60 | 21.5 | -400.94 | 0.07 | 0.0 | -30.0 | -114.02 | 30.81 | -324.8 | 326.96 | 46.52 | 176.76 | 47.73 | 43.97 | -57.39 | 52.27 | -21.81 | 535.61 | 0.00 | 0 | -100.0 |
| 20Q3 (16) | 31.06 | -15.07 | -46.24 | -63.62 | 25.47 | -283.55 | -191.96 | -126.29 | -720.03 | -191.96 | -126.34 | -931.0 | -36.45 | -209.95 | -780.04 | -12.23 | -185.75 | -504.97 | 0.07 | 16.67 | -30.0 | -164.79 | -195.48 | -448.76 | 223.15 | 42.75 | 92.6 | 33.15 | -67.0 | -70.36 | 66.85 | 14873.81 | 664.51 | 0.00 | 0 | -100.0 |
| 20Q2 (15) | 36.57 | 43.75 | -36.39 | -85.36 | -119.1 | -365.26 | -84.83 | -48.62 | -394.45 | -84.81 | -48.58 | -513.3 | -11.76 | -65.87 | -357.33 | -4.28 | -65.25 | -252.31 | 0.06 | 0.0 | -45.45 | -55.77 | -118.11 | -231.47 | 156.32 | 19.05 | 21.65 | 100.45 | 46.74 | -9.78 | -0.45 | -101.43 | 96.01 | 0.00 | 0 | -100.0 |
| 20Q1 (14) | 25.44 | -60.51 | -56.8 | -38.96 | -197.25 | -211.31 | -57.08 | -259.31 | -267.69 | -57.08 | -330.16 | -312.35 | -7.09 | -225.93 | -235.82 | -2.59 | -181.19 | -183.55 | 0.06 | -40.0 | -40.0 | -25.57 | -150.41 | -155.21 | 131.31 | 11.15 | 63.99 | 68.46 | -38.88 | -33.47 | 31.54 | 362.86 | 1188.26 | 0.00 | -100.0 | -100.0 |
| 19Q4 (13) | 64.42 | 11.49 | 44.41 | 40.06 | 15.58 | 36.03 | 35.83 | 15.73 | 30.62 | 24.80 | 7.36 | 47.36 | 5.63 | 5.04 | -9.34 | 3.19 | 5.63 | -13.08 | 0.10 | 0.0 | -47.37 | 50.72 | 7.34 | 24.93 | 118.14 | 1.97 | 19.65 | 112.00 | 0.14 | 4.61 | -12.00 | -1.33 | -57.71 | 39.73 | 0.89 | 85.65 |
| 19Q3 (12) | 57.78 | 0.5 | -2.65 | 34.66 | 7.71 | -22.09 | 30.96 | 7.46 | -34.72 | 23.10 | 12.57 | -39.29 | 5.36 | 17.29 | -45.47 | 3.02 | 7.47 | -38.62 | 0.10 | -9.09 | -16.67 | 47.25 | 11.39 | -16.0 | 115.86 | -9.84 | 38.01 | 111.84 | 0.44 | 19.1 | -11.84 | -4.36 | -294.41 | 39.38 | 0.15 | -1.77 |
| 19Q2 (11) | 57.49 | -2.38 | -7.93 | 32.18 | -8.06 | -26.86 | 28.81 | -15.36 | -35.85 | 20.52 | -23.66 | -41.35 | 4.57 | -12.45 | -45.4 | 2.81 | -9.35 | -33.88 | 0.11 | 10.0 | -8.33 | 42.42 | -8.4 | -20.83 | 128.50 | 60.48 | -10.46 | 111.35 | 8.21 | 13.85 | -11.35 | -291.49 | -616.31 | 39.32 | 0.56 | 4.57 |
| 19Q1 (10) | 58.89 | 32.01 | 6.59 | 35.00 | 18.85 | 2.34 | 34.04 | 24.1 | 4.1 | 26.88 | 59.71 | -1.25 | 5.22 | -15.94 | -25.0 | 3.10 | -15.53 | -16.89 | 0.10 | -47.37 | -23.08 | 46.31 | 14.06 | 6.58 | 80.07 | -18.91 | 9.12 | 102.90 | -3.89 | -2.12 | -2.90 | 61.9 | 32.17 | 39.10 | 82.71 | -2.37 |
| 18Q4 (9) | 44.61 | -24.84 | 0 | 29.45 | -33.81 | 0 | 27.43 | -42.17 | 0 | 16.83 | -55.77 | 0 | 6.21 | -36.83 | 0 | 3.67 | -25.41 | 0 | 0.19 | 58.33 | 0 | 40.60 | -27.82 | 0 | 98.74 | 17.62 | 0 | 107.07 | 14.01 | 0 | -7.61 | -224.91 | 0 | 21.40 | -46.62 | 0 |
| 18Q3 (8) | 59.35 | -4.95 | 0 | 44.49 | 1.11 | 0 | 47.43 | 5.61 | 0 | 38.05 | 8.75 | 0 | 9.83 | 17.44 | 0 | 4.92 | 15.76 | 0 | 0.12 | 0.0 | 0 | 56.25 | 4.98 | 0 | 83.95 | -41.5 | 0 | 93.91 | -3.98 | 0 | 6.09 | 177.16 | 0 | 40.09 | 6.62 | 0 |
| 18Q2 (7) | 62.44 | 13.01 | 0 | 44.00 | 28.65 | 0 | 44.91 | 37.34 | 0 | 34.99 | 28.55 | 0 | 8.37 | 20.26 | 0 | 4.25 | 13.94 | 0 | 0.12 | -7.69 | 0 | 53.58 | 23.31 | 0 | 143.51 | 95.57 | 0 | 97.80 | -6.97 | 0 | 2.20 | 151.43 | 0 | 37.60 | -6.12 | 0 |
| 18Q1 (6) | 55.25 | 0 | 0 | 34.20 | 0 | 0 | 32.70 | 0 | 0 | 27.22 | 0 | 0 | 6.96 | 0 | 0 | 3.73 | 0 | 0 | 0.13 | 0 | 0 | 43.45 | 0 | 0 | 73.38 | 0 | 0 | 105.13 | 0 | 0 | -4.27 | 0 | 0 | 40.05 | 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 | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2020 (10) | 29.48 | -50.6 | -64.38 | 0 | 13.56 | 103.34 | -121.75 | 0 | -122.03 | 0 | -85.35 | 0 | -28.31 | 0 | 0.25 | -41.86 | -91.83 | 0 | 326.96 | 176.76 | 52.90 | -51.8 | 47.10 | 0 | 14.54 | -22.15 | 0.00 | 0 |
| 2019 (9) | 59.68 | 10.74 | 35.50 | -3.87 | 6.67 | 25.85 | 32.34 | -12.05 | 23.69 | -14.14 | 21.44 | -39.83 | 12.44 | -29.64 | 0.43 | -28.33 | 46.61 | -1.89 | 118.14 | 19.65 | 109.74 | 9.25 | -9.74 | 0 | 18.68 | -19.03 | 39.40 | 20.27 |
| 2018 (8) | 53.89 | 1.09 | 36.93 | 2.9 | 5.30 | -35.84 | 36.77 | 11.02 | 27.59 | 4.27 | 35.63 | 15.95 | 17.68 | 17.79 | 0.60 | 13.21 | 47.51 | 7.46 | 98.74 | -34.93 | 100.44 | -7.33 | -0.44 | 0 | 23.07 | 0 | 32.76 | -7.12 |
| 2017 (7) | 53.31 | 11.36 | 35.89 | 33.52 | 8.26 | -25.33 | 33.12 | 25.79 | 26.46 | 4.96 | 30.73 | 42.66 | 15.01 | 10.21 | 0.53 | 1.92 | 44.21 | 14.24 | 151.75 | 57.92 | 108.39 | 6.04 | -8.39 | 0 | 0.00 | 0 | 35.27 | -9.4 |
| 2016 (6) | 47.87 | -3.12 | 26.88 | 44.91 | 11.06 | -9.31 | 26.33 | 35.86 | 25.21 | 48.21 | 21.54 | 45.84 | 13.62 | 13.31 | 0.52 | -23.53 | 38.70 | 19.33 | 96.09 | 283.44 | 102.21 | 6.5 | -2.21 | 0 | 0.00 | 0 | 38.93 | -13.28 |
| 2015 (5) | 49.41 | 7.27 | 18.55 | 58.68 | 12.19 | -16.29 | 19.38 | 33.1 | 17.01 | 43.67 | 14.77 | -4.65 | 12.02 | 15.36 | 0.68 | -16.05 | 32.43 | 2.01 | 25.06 | -21.76 | 95.97 | 19.24 | 4.03 | -79.36 | 0.00 | 0 | 44.89 | 21.19 |
| 2014 (4) | 46.06 | -7.32 | 11.69 | -39.8 | 14.56 | 3.45 | 14.56 | -20.78 | 11.84 | -24.92 | 15.49 | -67.57 | 10.42 | -41.72 | 0.81 | -22.86 | 31.79 | -22.44 | 32.03 | -79.76 | 80.49 | -23.79 | 19.51 | 0 | 0.00 | 0 | 37.04 | 22.2 |
| 2013 (3) | 49.70 | 3.76 | 19.42 | 124.77 | 14.08 | 0.9 | 18.38 | 162.2 | 15.77 | 136.79 | 47.77 | 0 | 17.88 | 0 | 1.05 | 0 | 40.99 | 41.64 | 158.28 | -35.06 | 105.62 | -13.59 | -5.62 | 0 | 0.00 | 0 | 30.31 | -24.19 |
| 2012 (2) | 47.90 | 0 | 8.64 | 0 | 13.95 | 0 | 7.01 | 0 | 6.66 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 28.94 | 0 | 243.72 | 0 | 122.22 | 0 | -22.22 | 0 | 0.00 | 0 | 39.98 | 0 |
