- 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) | 3.20 | -63.22 | -78.71 | -9.62 | -127.96 | -486.35 | -11.93 | -104.28 | -1247.12 | -11.74 | -101.03 | -1103.42 | -5.16 | -105.58 | -1055.56 | -1.64 | -152.31 | -472.73 | 0.17 | 0.0 | -5.56 | 1.91 | -74.84 | -82.46 | 160.87 | -0.01 | 7.75 | 80.71 | 11.51 | -66.45 | 19.29 | -30.16 | 113.73 | 18.29 | -2.19 | 31.87 |
| 23Q3 (19) | 8.70 | 1.52 | -48.31 | -4.22 | 2.31 | -224.48 | -5.84 | -13.84 | -291.48 | -5.84 | -13.62 | -420.88 | -2.51 | -15.14 | -425.97 | -0.65 | -14.04 | -238.3 | 0.17 | 6.25 | 6.25 | 7.59 | 3.12 | -41.93 | 160.88 | 1.53 | -3.69 | 72.38 | -13.79 | -35.59 | 27.62 | 72.12 | 343.6 | 18.70 | 10.59 | 46.21 |
| 23Q2 (18) | 8.57 | -27.68 | -62.03 | -4.32 | -248.39 | -142.73 | -5.13 | -78.12 | -152.19 | -5.14 | -78.47 | -156.3 | -2.18 | -78.69 | -147.19 | -0.57 | -159.09 | -130.48 | 0.16 | 0.0 | -15.79 | 7.36 | -16.65 | -57.77 | 158.46 | -4.95 | -8.24 | 83.95 | 94.52 | -18.56 | 16.05 | -71.76 | 669.02 | 16.91 | 5.16 | 15.51 |
| 23Q1 (17) | 11.85 | -21.16 | -42.56 | -1.24 | -149.8 | -112.47 | -2.88 | -376.92 | -128.37 | -2.88 | -346.15 | -128.71 | -1.22 | -325.93 | -122.85 | -0.22 | -150.0 | -110.28 | 0.16 | -11.11 | -20.0 | 8.83 | -18.92 | -47.25 | 166.71 | 11.66 | 7.22 | 43.16 | -82.06 | -55.9 | 56.84 | 140.45 | 2558.95 | 16.08 | 15.93 | 22.56 |
| 22Q4 (16) | 15.03 | -10.7 | -32.96 | 2.49 | -26.55 | -80.16 | 1.04 | -65.9 | -91.77 | 1.17 | -35.71 | -90.62 | 0.54 | -29.87 | -93.04 | 0.44 | -6.38 | -85.48 | 0.18 | 12.5 | -21.74 | 10.89 | -16.68 | -40.78 | 149.30 | -10.62 | -10.3 | 240.54 | 114.06 | 142.27 | -140.54 | -1139.31 | -19810.81 | 13.87 | 8.44 | -17.05 |
| 22Q3 (15) | 16.83 | -25.43 | -27.71 | 3.39 | -66.47 | -70.57 | 3.05 | -68.97 | -71.31 | 1.82 | -80.07 | -82.83 | 0.77 | -83.33 | -85.66 | 0.47 | -74.87 | -78.73 | 0.16 | -15.79 | -20.0 | 13.07 | -25.01 | -19.47 | 167.04 | -3.27 | 2.27 | 112.37 | 9.02 | 3.73 | -11.34 | -302.06 | -36.08 | 12.79 | -12.64 | -24.81 |
| 22Q2 (14) | 22.57 | 9.4 | 18.17 | 10.11 | 1.71 | 17.15 | 9.83 | -3.15 | 11.58 | 9.13 | -8.97 | 8.95 | 4.62 | -13.48 | 17.56 | 1.87 | -12.62 | 5.06 | 0.19 | -5.0 | -9.52 | 17.43 | 4.12 | 18.41 | 172.69 | 11.06 | 30.57 | 103.08 | 5.33 | 5.47 | -2.82 | -231.94 | -244.79 | 14.64 | 11.59 | -10.02 |
| 22Q1 (13) | 20.63 | -7.98 | 9.15 | 9.94 | -20.8 | 59.55 | 10.15 | -19.7 | 80.6 | 10.03 | -19.63 | 110.71 | 5.34 | -31.19 | 160.49 | 2.14 | -29.37 | 107.77 | 0.20 | -13.04 | -4.76 | 16.74 | -8.97 | 40.32 | 155.49 | -6.58 | 33.14 | 97.86 | -1.43 | -11.78 | 2.14 | 199.82 | 119.56 | 13.12 | -21.53 | -19.36 |
| 21Q4 (12) | 22.42 | -3.69 | 15.81 | 12.55 | 8.94 | 74.31 | 12.64 | 18.91 | 67.64 | 12.48 | 17.74 | 80.61 | 7.76 | 44.51 | 175.18 | 3.03 | 37.1 | 104.73 | 0.23 | 15.0 | 9.52 | 18.39 | 13.31 | 29.23 | 166.44 | 1.9 | 67.61 | 99.29 | -8.35 | 3.84 | 0.71 | 108.56 | -83.74 | 16.72 | -1.7 | -17.39 |
| 21Q3 (11) | 23.28 | 21.88 | 8.63 | 11.52 | 33.49 | 4.54 | 10.63 | 20.66 | -7.97 | 10.60 | 26.49 | -5.44 | 5.37 | 36.64 | 6.34 | 2.21 | 24.16 | -17.84 | 0.20 | -4.76 | -16.67 | 16.23 | 10.26 | -8.56 | 163.33 | 23.49 | 82.31 | 108.33 | 10.85 | 13.52 | -8.33 | -527.78 | -282.35 | 17.01 | 4.55 | 6.18 |
| 21Q2 (10) | 19.10 | 1.06 | -15.26 | 8.63 | 38.52 | -24.96 | 8.81 | 56.76 | -25.28 | 8.38 | 76.05 | -28.19 | 3.93 | 91.71 | -19.8 | 1.78 | 72.82 | -35.04 | 0.21 | 0.0 | -8.7 | 14.72 | 23.39 | -19.56 | 132.26 | 13.25 | 44.51 | 97.73 | -11.9 | 0.29 | 1.95 | 117.82 | -23.81 | 16.27 | 0.0 | 0 |
| 21Q1 (9) | 18.90 | -2.38 | -11.97 | 6.23 | -13.47 | -41.67 | 5.62 | -25.46 | -48.96 | 4.76 | -31.11 | -56.53 | 2.05 | -27.3 | -47.84 | 1.03 | -30.41 | -58.3 | 0.21 | 0.0 | -4.55 | 11.93 | -16.16 | -36.71 | 116.79 | 17.61 | 58.57 | 110.93 | 16.02 | 14.52 | -10.93 | -349.18 | -492.08 | 16.27 | -19.61 | 0 |
| 20Q4 (8) | 19.36 | -9.66 | 30.11 | 7.20 | -34.66 | 251.22 | 7.54 | -34.72 | 269.61 | 6.91 | -38.36 | 237.07 | 2.82 | -44.16 | 347.62 | 1.48 | -44.98 | 202.04 | 0.21 | -12.5 | 10.53 | 14.23 | -19.83 | 28.66 | 99.30 | 10.84 | 69.45 | 95.61 | 0.19 | -4.39 | 4.39 | -4.02 | 0 | 20.24 | 26.34 | 6.3 |
| 20Q3 (7) | 21.43 | -4.92 | 10.52 | 11.02 | -4.17 | 15.76 | 11.55 | -2.04 | 20.94 | 11.21 | -3.94 | 18.62 | 5.05 | 3.06 | 38.74 | 2.69 | -1.82 | 22.27 | 0.24 | 4.35 | 9.09 | 17.75 | -3.01 | 4.84 | 89.59 | -2.11 | 32.18 | 95.43 | -2.07 | -4.21 | 4.57 | 78.73 | 1124.73 | 16.02 | 0 | 2.36 |
| 20Q2 (6) | 22.54 | 4.98 | 3.3 | 11.50 | 7.68 | 6.48 | 11.79 | 7.08 | 9.67 | 11.67 | 6.58 | 8.66 | 4.90 | 24.68 | 30.32 | 2.74 | 10.93 | 25.11 | 0.23 | 4.55 | 21.05 | 18.30 | -2.92 | -3.17 | 91.52 | 24.26 | 13.32 | 97.44 | 0.6 | -2.92 | 2.56 | -8.27 | 775.0 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 21.47 | 44.29 | 10.96 | 10.68 | 420.98 | 16.21 | 11.01 | 439.71 | 17.13 | 10.95 | 434.15 | 22.21 | 3.93 | 523.81 | -0.76 | 2.47 | 404.08 | 11.26 | 0.22 | 15.79 | -4.35 | 18.85 | 70.43 | 13.49 | 73.65 | 25.68 | -7.39 | 96.86 | -3.14 | -0.92 | 2.79 | 0 | 24.51 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 14.88 | -23.26 | 0.0 | 2.05 | -78.47 | 0.0 | 2.04 | -78.64 | 0.0 | 2.05 | -78.31 | 0.0 | 0.63 | -82.69 | 0.0 | 0.49 | -77.73 | 0.0 | 0.19 | -13.64 | 0.0 | 11.06 | -34.67 | 0.0 | 58.60 | -13.54 | 0.0 | 100.00 | 0.37 | 0.0 | -0.00 | -100.0 | 0.0 | 19.04 | 21.66 | 0.0 |
| 19Q3 (3) | 19.39 | -11.14 | 0.0 | 9.52 | -11.85 | 0.0 | 9.55 | -11.16 | 0.0 | 9.45 | -12.01 | 0.0 | 3.64 | -3.19 | 0.0 | 2.20 | 0.46 | 0.0 | 0.22 | 15.79 | 0.0 | 16.93 | -10.42 | 0.0 | 67.78 | -16.07 | 0.0 | 99.63 | -0.75 | 0.0 | 0.37 | 198.51 | 0.0 | 15.65 | -19.87 | 0.0 |
| 19Q2 (2) | 21.82 | 12.76 | 0.0 | 10.80 | 17.52 | 0.0 | 10.75 | 14.36 | 0.0 | 10.74 | 19.87 | 0.0 | 3.76 | -5.05 | 0.0 | 2.19 | -1.35 | 0.0 | 0.19 | -17.39 | 0.0 | 18.90 | 13.79 | 0.0 | 80.76 | 1.55 | 0.0 | 100.38 | 2.68 | 0.0 | -0.38 | -116.92 | 0.0 | 19.53 | 13.41 | 0.0 |
| 19Q1 (1) | 19.35 | 0.0 | 0.0 | 9.19 | 0.0 | 0.0 | 9.40 | 0.0 | 0.0 | 8.96 | 0.0 | 0.0 | 3.96 | 0.0 | 0.0 | 2.22 | 0.0 | 0.0 | 0.23 | 0.0 | 0.0 | 16.61 | 0.0 | 0.0 | 79.53 | 0.0 | 0.0 | 97.76 | 0.0 | 0.0 | 2.24 | 0.0 | 0.0 | 17.22 | 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) | 8.14 | -57.11 | -4.79 | 0 | 10.43 | 45.56 | -6.38 | 0 | -6.33 | 0 | -10.69 | 0 | -3.02 | 0 | 0.66 | -12.0 | 6.47 | -56.05 | 160.87 | 7.75 | 75.06 | -29.76 | 24.94 | 0 | 1.07 | 4.23 | 17.47 | 28.08 |
| 2022 (9) | 18.98 | -9.92 | 6.78 | -32.06 | 7.16 | 31.41 | 6.34 | -34.64 | 5.89 | -37.01 | 11.36 | -38.06 | 5.06 | -37.53 | 0.75 | -10.71 | 14.72 | -5.46 | 149.30 | -10.3 | 106.87 | 3.9 | -6.98 | 0 | 1.03 | 21.22 | 13.64 | -17.73 |
| 2021 (8) | 21.07 | -0.57 | 9.98 | -1.09 | 5.45 | -13.63 | 9.70 | -7.35 | 9.35 | -8.06 | 18.34 | 15.06 | 8.10 | -11.18 | 0.84 | -3.45 | 15.57 | -9.63 | 166.44 | 67.61 | 102.86 | 6.73 | -2.86 | 0 | 0.85 | -31.07 | 16.58 | -6.59 |
| 2020 (7) | 21.19 | 11.7 | 10.09 | 24.72 | 6.31 | -10.91 | 10.47 | 28.62 | 10.17 | 27.12 | 15.94 | 29.07 | 9.12 | 23.08 | 0.87 | 0.0 | 17.23 | 7.55 | 99.30 | 69.45 | 96.37 | -3.06 | 3.63 | 514.53 | 1.23 | 315.45 | 17.75 | 0.06 |
| 2019 (6) | 18.97 | 16.45 | 8.09 | 8.3 | 7.09 | 20.16 | 8.14 | 8.24 | 8.00 | 7.38 | 12.35 | -22.81 | 7.41 | -5.36 | 0.87 | -9.37 | 16.02 | 10.94 | 58.60 | -42.58 | 99.41 | 0.12 | 0.59 | -17.16 | 0.30 | -5.31 | 17.74 | 11.08 |
| 2018 (5) | 16.29 | 56.18 | 7.47 | 758.62 | 5.90 | -0.32 | 7.52 | 616.19 | 7.45 | 893.33 | 16.00 | 755.61 | 7.83 | 398.73 | 0.96 | 2.13 | 14.44 | 77.4 | 102.06 | -34.18 | 99.29 | 18.93 | 0.71 | -95.68 | 0.31 | 0 | 15.97 | 3.37 |
| 2017 (4) | 10.43 | -30.19 | 0.87 | -83.17 | 5.92 | -12.43 | 1.05 | -75.29 | 0.75 | -76.56 | 1.87 | -72.42 | 1.57 | -52.99 | 0.94 | 17.5 | 8.14 | -33.77 | 155.06 | -10.47 | 83.49 | -31.21 | 16.51 | 0 | 0.00 | 0 | 15.45 | -2.28 |
| 2016 (3) | 14.94 | -21.41 | 5.17 | -44.17 | 6.76 | 6.19 | 4.25 | -41.22 | 3.20 | -48.3 | 6.78 | -47.85 | 3.34 | -44.61 | 0.80 | -5.88 | 12.29 | -16.96 | 173.19 | 9.78 | 121.37 | -5.21 | -21.37 | 0 | 0.00 | 0 | 15.81 | 0.96 |
| 2015 (2) | 19.01 | 5.91 | 9.26 | 26.5 | 6.36 | -2.15 | 7.23 | 14.94 | 6.19 | 6.17 | 13.00 | 1.8 | 6.03 | 4.15 | 0.85 | 2.41 | 14.80 | 3.57 | 157.76 | 13.56 | 128.04 | 9.79 | -28.21 | 0 | 0.00 | 0 | 15.66 | -6.06 |
| 2014 (1) | 17.95 | 0 | 7.32 | 0 | 6.50 | 24.18 | 6.29 | 0 | 5.83 | 0 | 12.77 | 0 | 5.79 | 0 | 0.83 | -6.74 | 14.29 | 15.71 | 138.92 | -31.87 | 116.63 | -14.28 | -16.41 | 0 | 0.00 | 0 | 16.67 | 6.25 |
