- 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) | 19.78 | -15.61 | -3.56 | 4.33 | -36.23 | 36.59 | 1.03 | -88.39 | 334.09 | 0.67 | -89.88 | 134.36 | 0.18 | -90.77 | 138.3 | 0.28 | -78.63 | 411.11 | 0.15 | -6.25 | 15.38 | 6.40 | -55.98 | 14.08 | 74.14 | -10.74 | -14.01 | 450.00 | 500.0 | 175.0 | -350.00 | -1655.56 | -153.85 | 9.37 | -13.4 | -11.6 |
| 23Q3 (19) | 23.44 | 5.97 | 6.93 | 6.79 | 12.6 | -27.22 | 8.87 | 1805.77 | 301.36 | 6.62 | 1755.0 | 254.01 | 1.95 | 2050.0 | 261.11 | 1.31 | 2520.0 | 211.9 | 0.16 | 23.08 | 6.67 | 14.54 | 194.93 | 102.23 | 83.06 | -2.24 | -5.93 | 75.00 | 106.82 | -82.14 | 22.50 | -98.12 | 107.03 | 10.82 | -1.28 | 11.89 |
| 23Q2 (18) | 22.12 | -0.58 | 6.14 | 6.03 | 72.78 | 19.17 | -0.52 | -121.05 | 84.43 | -0.40 | -123.53 | 75.9 | -0.10 | -128.57 | 75.61 | 0.05 | -89.36 | 135.71 | 0.13 | 18.18 | 0.0 | 4.93 | -55.63 | 224.34 | 84.96 | -0.6 | -15.65 | -1100.00 | -900.0 | -615.0 | 1200.00 | 3300.0 | 372.73 | 10.96 | -15.04 | 8.84 |
| 23Q1 (17) | 22.25 | 8.48 | -7.14 | 3.49 | 10.09 | -62.07 | 2.47 | 661.36 | -81.41 | 1.70 | 187.18 | -81.62 | 0.35 | 174.47 | -85.48 | 0.47 | 622.22 | -66.67 | 0.11 | -15.38 | -21.43 | 11.11 | 98.04 | -37.65 | 85.47 | -0.87 | 6.19 | 137.50 | 122.92 | 95.94 | -37.50 | -105.77 | -218.75 | 12.90 | 21.7 | 12.37 |
| 22Q4 (16) | 20.51 | -6.43 | -25.74 | 3.17 | -66.02 | -70.59 | -0.44 | -119.91 | -103.35 | -1.95 | -204.28 | -124.97 | -0.47 | -187.04 | -119.34 | -0.09 | -121.43 | -106.57 | 0.13 | -13.33 | -18.75 | 5.61 | -21.97 | -67.0 | 86.22 | -2.36 | -2.71 | -600.00 | -242.86 | -835.85 | 650.00 | 303.12 | 3420.83 | 10.60 | 9.62 | 8.94 |
| 22Q3 (15) | 21.92 | 5.18 | -23.38 | 9.33 | 84.39 | -36.53 | 2.21 | 166.17 | -83.57 | 1.87 | 212.65 | -80.09 | 0.54 | 231.71 | -83.07 | 0.42 | 400.0 | -77.05 | 0.15 | 15.38 | -21.05 | 7.19 | 373.03 | -56.45 | 88.30 | -12.33 | -6.82 | 420.00 | 373.0 | 283.25 | -320.00 | -226.06 | -3237.14 | 9.67 | -3.97 | 1.36 |
| 22Q2 (14) | 20.84 | -13.02 | -21.83 | 5.06 | -45.0 | -63.23 | -3.34 | -125.13 | -123.69 | -1.66 | -117.95 | -117.53 | -0.41 | -117.01 | -114.91 | -0.14 | -109.93 | -108.75 | 0.13 | -7.14 | -18.75 | 1.52 | -91.47 | -91.27 | 100.72 | 25.13 | 37.88 | -153.85 | -319.23 | -256.21 | 253.85 | 703.85 | 8276.92 | 10.07 | -12.28 | 1.51 |
| 22Q1 (13) | 23.96 | -13.25 | -14.91 | 9.20 | -14.66 | -36.42 | 13.29 | 1.14 | -0.08 | 9.25 | 18.44 | 6.81 | 2.41 | -0.82 | -1.23 | 1.41 | 2.92 | 2.17 | 0.14 | -12.5 | -6.67 | 17.82 | 4.82 | 7.87 | 80.49 | -9.17 | -9.51 | 70.18 | -13.94 | -35.22 | 31.58 | 71.05 | 478.95 | 11.48 | 17.99 | 9.02 |
| 21Q4 (12) | 27.62 | -3.46 | -11.5 | 10.78 | -26.67 | -25.09 | 13.14 | -2.3 | -31.1 | 7.81 | -16.83 | -39.78 | 2.43 | -23.82 | -44.39 | 1.37 | -25.14 | -44.98 | 0.16 | -15.79 | -11.11 | 17.00 | 2.97 | -23.66 | 88.62 | -6.48 | 6.8 | 81.54 | -25.6 | 7.98 | 18.46 | 292.53 | -24.62 | 9.73 | 1.99 | 0.93 |
| 21Q3 (11) | 28.61 | 7.31 | 3.29 | 14.70 | 6.83 | 0.68 | 13.45 | -4.61 | -32.04 | 9.39 | -0.84 | -30.8 | 3.19 | 16.0 | -36.33 | 1.83 | 14.37 | -32.97 | 0.19 | 18.75 | 0.0 | 16.51 | -5.17 | -27.62 | 94.76 | 29.72 | 10.13 | 109.59 | 11.28 | 48.02 | -9.59 | -416.44 | -136.94 | 9.54 | -3.83 | 5.65 |
| 21Q2 (10) | 26.66 | -5.33 | 7.2 | 13.76 | -4.91 | 37.74 | 14.10 | 6.02 | 150.89 | 9.47 | 9.35 | 106.77 | 2.75 | 12.7 | 120.0 | 1.60 | 15.94 | 102.53 | 0.16 | 6.67 | 14.29 | 17.41 | 5.39 | 78.38 | 73.05 | -17.88 | -27.29 | 98.48 | -9.09 | -45.57 | 3.03 | 136.36 | 103.74 | 9.92 | -5.79 | 0 |
| 21Q1 (9) | 28.16 | -9.77 | 32.58 | 14.47 | 0.56 | 122.27 | 13.30 | -30.26 | 981.3 | 8.66 | -33.23 | 774.75 | 2.44 | -44.16 | 960.87 | 1.38 | -44.58 | 331.25 | 0.15 | -16.67 | 25.0 | 16.52 | -25.82 | 155.73 | 88.95 | 7.19 | 3.74 | 108.33 | 43.47 | -79.37 | -8.33 | -134.03 | 98.04 | 10.53 | 9.23 | 0 |
| 20Q4 (8) | 31.21 | 12.67 | 47.7 | 14.39 | -1.44 | 76.78 | 19.07 | -3.64 | 199.37 | 12.97 | -4.42 | 188.86 | 4.37 | -12.77 | 181.94 | 2.49 | -8.79 | 159.38 | 0.18 | -5.26 | 0.0 | 22.27 | -2.37 | 129.12 | 82.98 | -3.56 | -5.38 | 75.51 | 1.99 | -41.48 | 24.49 | -5.67 | 184.35 | 9.64 | 6.76 | 42.18 |
| 20Q3 (7) | 27.70 | 11.38 | 24.05 | 14.60 | 46.15 | 30.94 | 19.79 | 252.14 | 570.85 | 13.57 | 196.29 | 438.49 | 5.01 | 300.8 | 450.55 | 2.73 | 245.57 | 313.64 | 0.19 | 35.71 | 0.0 | 22.81 | 133.71 | 255.3 | 86.04 | -14.36 | -2.85 | 74.04 | -59.08 | -79.92 | 25.96 | 132.07 | 109.66 | 9.03 | 0 | 45.65 |
| 20Q2 (6) | 24.87 | 17.09 | 18.65 | 9.99 | 53.46 | 214.15 | 5.62 | 356.91 | 829.87 | 4.58 | 362.63 | 1117.78 | 1.25 | 443.48 | 933.33 | 0.79 | 146.88 | 1028.57 | 0.14 | 16.67 | -22.22 | 9.76 | 51.08 | 238.89 | 100.47 | 17.18 | 3.9 | 180.95 | -65.53 | 148.25 | -80.95 | 80.95 | -117.04 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 21.24 | 0.52 | 39.55 | 6.51 | -20.02 | 561.7 | 1.23 | -80.69 | -0.81 | 0.99 | -77.95 | 62.3 | 0.23 | -85.16 | 53.33 | 0.32 | -66.67 | -8.57 | 0.12 | -33.33 | -14.29 | 6.46 | -33.54 | -4.15 | 85.74 | -2.23 | 20.83 | 525.00 | 306.88 | 625.0 | -425.00 | -1363.89 | -312.5 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 21.13 | -5.37 | 0.0 | 8.14 | -27.0 | 0.0 | 6.37 | 115.93 | 0.0 | 4.49 | 78.17 | 0.0 | 1.55 | 70.33 | 0.0 | 0.96 | 45.45 | 0.0 | 0.18 | -5.26 | 0.0 | 9.72 | 51.4 | 0.0 | 87.70 | -0.97 | 0.0 | 129.03 | -65.01 | 0.0 | -29.03 | 89.2 | 0.0 | 6.78 | 9.35 | 0.0 |
| 19Q3 (3) | 22.33 | 6.54 | 0.0 | 11.15 | 250.63 | 0.0 | 2.95 | 483.12 | 0.0 | 2.52 | 660.0 | 0.0 | 0.91 | 706.67 | 0.0 | 0.66 | 842.86 | 0.0 | 0.19 | 5.56 | 0.0 | 6.42 | 122.92 | 0.0 | 88.56 | -8.42 | 0.0 | 368.75 | 198.33 | 0.0 | -268.75 | -156.58 | 0.0 | 6.20 | -4.62 | 0.0 |
| 19Q2 (2) | 20.96 | 37.71 | 0.0 | 3.18 | 325.53 | 0.0 | -0.77 | -162.1 | 0.0 | -0.45 | -173.77 | 0.0 | -0.15 | -200.0 | 0.0 | 0.07 | -80.0 | 0.0 | 0.18 | 28.57 | 0.0 | 2.88 | -57.27 | 0.0 | 96.70 | 36.27 | 0.0 | -375.00 | -275.0 | 0.0 | 475.00 | 137.5 | 0.0 | 6.50 | -14.92 | 0.0 |
| 19Q1 (1) | 15.22 | 0.0 | 0.0 | -1.41 | 0.0 | 0.0 | 1.24 | 0.0 | 0.0 | 0.61 | 0.0 | 0.0 | 0.15 | 0.0 | 0.0 | 0.35 | 0.0 | 0.0 | 0.14 | 0.0 | 0.0 | 6.74 | 0.0 | 0.0 | 70.96 | 0.0 | 0.0 | -100.00 | 0.0 | 0.0 | 200.00 | 0.0 | 0.0 | 7.64 | 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) | 21.89 | 0.05 | 5.27 | -23.29 | 4.07 | 4.73 | 3.22 | 1.26 | 2.35 | 12.44 | 2.37 | 8.72 | 2.16 | 30.91 | 0.56 | 0.0 | 9.30 | 12.73 | 74.14 | -14.01 | 164.00 | -24.53 | -64.00 | 0 | 0.38 | -9.39 | 10.88 | 4.11 |
| 2022 (9) | 21.88 | -21.27 | 6.87 | -48.85 | 3.88 | 43.4 | 3.18 | -76.43 | 2.09 | -76.36 | 2.18 | -79.94 | 1.65 | -73.34 | 0.56 | -15.15 | 8.25 | -51.21 | 86.22 | -2.71 | 217.31 | 118.13 | -117.31 | 0 | 0.42 | -2.46 | 10.45 | 5.56 |
| 2021 (8) | 27.79 | 3.27 | 13.43 | 11.73 | 2.71 | 9.78 | 13.49 | 3.53 | 8.84 | -2.75 | 10.87 | 2.16 | 6.19 | -2.21 | 0.66 | 4.76 | 16.91 | 1.26 | 88.62 | 6.8 | 99.62 | 7.69 | 0.38 | -95.22 | 0.43 | -17.9 | 9.90 | 4.87 |
| 2020 (7) | 26.91 | 32.89 | 12.02 | 106.53 | 2.47 | -1.21 | 13.03 | 410.98 | 9.09 | 380.95 | 10.64 | 336.07 | 6.33 | 200.0 | 0.63 | -11.27 | 16.70 | 161.76 | 82.98 | -5.38 | 92.51 | -59.63 | 7.93 | 0 | 0.52 | 1275.43 | 9.44 | 40.69 |
| 2019 (6) | 20.25 | -16.36 | 5.82 | -46.7 | 2.50 | 13.48 | 2.55 | -72.28 | 1.89 | -66.96 | 2.44 | -69.04 | 2.11 | -60.04 | 0.71 | -13.41 | 6.38 | -48.26 | 87.70 | 17.23 | 229.17 | 93.66 | -129.17 | 0 | 0.04 | 0.19 | 6.71 | -3.03 |
| 2018 (5) | 24.21 | 9.6 | 10.92 | 43.12 | 2.20 | -23.31 | 9.20 | 2.68 | 5.72 | -22.81 | 7.88 | -15.45 | 5.28 | -16.46 | 0.82 | 5.13 | 12.33 | -2.61 | 74.81 | 19.87 | 118.33 | 39.67 | -18.89 | 0 | 0.04 | 0 | 6.92 | 0.0 |
| 2017 (4) | 22.09 | 17.0 | 7.63 | 73.41 | 2.87 | -30.35 | 8.96 | 640.5 | 7.41 | 732.58 | 9.32 | 813.73 | 6.32 | 469.37 | 0.78 | 20.0 | 12.66 | 99.37 | 62.41 | 2.99 | 84.72 | -77.14 | 14.58 | 0 | 0.00 | 0 | 6.92 | 5.81 |
| 2016 (3) | 18.88 | 18.82 | 4.40 | 0 | 4.12 | -1.37 | 1.21 | 0 | 0.89 | 0 | 1.02 | 0 | 1.11 | 0 | 0.65 | 12.07 | 6.35 | 0 | 60.60 | -32.76 | 370.59 | 528.12 | -270.59 | 0 | 0.00 | 0 | 6.54 | -24.74 |
| 2015 (2) | 15.89 | -21.57 | -7.62 | 0 | 4.18 | 22.73 | -12.83 | 0 | -11.66 | 0 | -12.94 | 0 | -5.87 | 0 | 0.58 | -17.14 | -6.81 | 0 | 90.12 | -3.91 | 59.00 | -22.37 | 40.50 | 68.75 | 0.00 | 0 | 8.69 | 33.49 |
| 2014 (1) | 20.26 | 0 | 3.92 | 0 | 3.40 | 1.55 | 5.16 | 0 | 4.21 | 0 | 5.80 | 0 | 3.79 | 0 | 0.70 | 1.45 | 10.06 | -23.67 | 93.79 | -8.16 | 76.00 | -0.99 | 24.00 | 3.27 | 0.00 | 0 | 6.51 | -4.69 |
