- 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) | 57.37 | 9.69 | -12.1 | -10.93 | 23.19 | 58.72 | -14.84 | -232.74 | 53.96 | -17.01 | -286.59 | 51.09 | -1.87 | -274.0 | 15.0 | -1.64 | -281.4 | 15.46 | 0.10 | 0.0 | 66.67 | -10.87 | 0 | 62.45 | 14.60 | 4.14 | 5.26 | 71.43 | -79.59 | -14.29 | 28.57 | 111.43 | 71.43 | 39.16 | 15.82 | -31.48 |
| 23Q3 (19) | 52.30 | -3.11 | -13.37 | -14.23 | 52.31 | 34.18 | -4.46 | 77.39 | -111.89 | -4.40 | 77.7 | -112.93 | -0.50 | 68.75 | -123.15 | -0.43 | 68.84 | -122.99 | 0.10 | 42.86 | 100.0 | 0.00 | 100.0 | -100.0 | 14.02 | -26.9 | 4.63 | 350.00 | 122.73 | 712.5 | -250.00 | -337.5 | -259.09 | 33.81 | -9.67 | -29.9 |
| 23Q2 (18) | 53.98 | -27.88 | -9.16 | -29.84 | -351.44 | -174.47 | -19.73 | 95.85 | -127.05 | -19.73 | 94.66 | -131.32 | -1.60 | 93.7 | -137.91 | -1.38 | 93.83 | -138.98 | 0.07 | 16.67 | 16.67 | -13.89 | 97.02 | -118.06 | 19.18 | 46.97 | 6.97 | 157.14 | 13257.14 | 175.0 | -57.14 | -158.17 | -223.08 | 37.43 | -29.76 | -5.62 |
| 23Q1 (17) | 74.85 | 14.68 | 27.23 | -6.61 | 75.04 | 76.06 | -475.70 | -1375.95 | -10718.3 | -369.54 | -962.51 | -8422.97 | -25.38 | -1053.64 | -9861.54 | -22.36 | -1052.58 | -10263.64 | 0.06 | 0.0 | 20.0 | -466.67 | -1511.99 | -5391.04 | 13.05 | -5.91 | -37.74 | 1.18 | -98.59 | 100.26 | 98.24 | 489.41 | -82.14 | 53.29 | -6.75 | 8.87 |
| 22Q4 (16) | 65.27 | 8.12 | 9.4 | -26.48 | -22.48 | 29.54 | -32.23 | -185.92 | -36.51 | -34.78 | -202.2 | -2.14 | -2.20 | -201.85 | -15.79 | -1.94 | -203.74 | -16.17 | 0.06 | 20.0 | 20.0 | -28.95 | -166.95 | -54.4 | 13.87 | 3.51 | 1.61 | 83.33 | 245.83 | -44.44 | 16.67 | -89.39 | 126.67 | 57.15 | 18.49 | 28.57 |
| 22Q3 (15) | 60.37 | 1.6 | -5.6 | -21.62 | -153.96 | 31.41 | 37.51 | -48.57 | 232.03 | 34.03 | -45.98 | 219.53 | 2.16 | -48.82 | 236.71 | 1.87 | -47.18 | 234.53 | 0.05 | -16.67 | 0.0 | 43.24 | -43.79 | 278.38 | 13.40 | -25.26 | -3.25 | -57.14 | -200.0 | -151.43 | 157.14 | 238.46 | 1514.29 | 48.23 | 21.61 | -17.99 |
| 22Q2 (14) | 59.42 | 1.0 | 3.57 | 40.07 | 245.13 | -84.14 | 72.93 | 1527.9 | -70.14 | 63.00 | 1318.92 | -69.94 | 4.22 | 1523.08 | -64.89 | 3.54 | 1509.09 | -66.92 | 0.06 | 20.0 | 20.0 | 76.92 | 772.11 | -69.43 | 17.93 | -14.46 | 24.43 | 57.14 | 112.7 | -44.3 | 46.43 | -91.56 | 1291.67 | 39.66 | -18.98 | -70.29 |
| 22Q1 (13) | 58.83 | -1.39 | -13.28 | -27.61 | 26.53 | 16.28 | 4.48 | 118.98 | 129.79 | 4.44 | 113.04 | 129.4 | 0.26 | 113.68 | 127.66 | 0.22 | 113.17 | 125.88 | 0.05 | 0.0 | -16.67 | 8.82 | 147.04 | 191.12 | 20.96 | 53.55 | 111.29 | -450.00 | -400.0 | -325.0 | 550.00 | 980.0 | 558.33 | 48.95 | 10.12 | -23.26 |
| 21Q4 (12) | 59.66 | -6.71 | -10.1 | -37.58 | -19.23 | -91.15 | -23.61 | 16.9 | -29.23 | -34.05 | -19.6 | -142.0 | -1.90 | -20.25 | -100.0 | -1.67 | -20.14 | -96.47 | 0.05 | 0.0 | -16.67 | -18.75 | 22.65 | -59.44 | 13.65 | -1.44 | 20.26 | 150.00 | 35.0 | 28.57 | -62.50 | -462.5 | 0 | 44.45 | -24.42 | -11.26 |
| 21Q3 (11) | 63.95 | 11.47 | -13.76 | -31.52 | -112.48 | -90.8 | -28.41 | -111.63 | -104.39 | -28.47 | -113.58 | -128.12 | -1.58 | -113.14 | -88.1 | -1.39 | -112.99 | -85.33 | 0.05 | 0.0 | -16.67 | -24.24 | -109.63 | -174.83 | 13.85 | -3.89 | 13.43 | 111.11 | 8.3 | -7.41 | -11.11 | -185.19 | 44.44 | 58.81 | -55.94 | 6.21 |
| 21Q2 (10) | 57.37 | -15.43 | -14.37 | 252.59 | 865.89 | 4554.85 | 244.20 | 1723.67 | 4281.51 | 209.59 | 1488.01 | 4368.64 | 12.02 | 1378.72 | 2895.35 | 10.70 | 1358.82 | 2915.79 | 0.05 | -16.67 | -37.5 | 251.61 | 2699.28 | 11694.93 | 14.41 | 45.26 | 14.0 | 102.60 | -48.7 | 2.6 | -3.90 | 96.75 | 0 | 133.47 | 109.23 | 0 |
| 21Q1 (9) | 67.84 | 2.23 | -0.43 | -32.98 | -67.75 | -158.46 | -15.04 | 17.68 | -521.49 | -15.10 | -7.32 | -516.33 | -0.94 | 1.05 | -394.74 | -0.85 | 0.0 | -400.0 | 0.06 | 0.0 | -14.29 | -9.68 | 17.69 | -496.72 | 9.92 | -12.6 | -16.22 | 200.00 | 71.43 | -60.0 | -120.00 | 0 | 70.0 | 63.79 | 27.35 | 0 |
| 20Q4 (8) | 66.36 | -10.51 | -3.59 | -19.66 | -19.01 | -61.68 | -18.27 | -31.44 | 3.13 | -14.07 | -12.74 | 6.82 | -0.95 | -13.1 | 23.39 | -0.85 | -13.33 | 21.3 | 0.06 | 0.0 | -14.29 | -11.76 | -33.33 | 13.78 | 11.35 | -7.04 | -24.93 | 116.67 | -2.78 | 86.67 | -0.00 | 100.0 | -100.0 | 50.09 | -9.54 | -18.99 |
| 20Q3 (7) | 74.15 | 10.67 | 12.11 | -16.52 | -191.36 | 29.25 | -13.90 | -138.01 | -19.93 | -12.48 | -154.18 | -26.32 | -0.84 | -95.35 | -1.2 | -0.75 | -97.37 | -4.17 | 0.06 | -25.0 | -14.29 | -8.82 | -306.45 | -32.23 | 12.21 | -3.4 | -18.6 | 120.00 | 20.0 | -45.45 | -20.00 | 0 | 80.0 | 55.37 | 0 | -3.23 |
| 20Q2 (6) | 67.00 | -1.66 | 18.69 | -5.67 | 55.56 | -106.34 | -5.84 | -141.32 | -106.78 | -4.91 | -100.41 | -107.4 | -0.43 | -126.32 | -107.54 | -0.38 | -123.53 | -107.57 | 0.08 | 14.29 | 0.0 | -2.17 | -188.93 | -102.38 | 12.64 | 6.76 | -21.44 | 100.00 | -80.0 | -4.88 | 0.00 | 100.0 | 100.0 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 68.13 | -1.02 | -0.67 | -12.76 | -4.93 | -123.86 | -2.42 | 87.17 | -63.51 | -2.45 | 83.77 | -21.89 | -0.19 | 84.68 | -5.56 | -0.17 | 84.26 | 0.0 | 0.07 | 0.0 | -12.5 | 2.44 | 117.89 | 14.55 | 11.84 | -21.69 | 10.34 | 500.00 | 700.0 | 66.67 | -400.00 | -1166.67 | -100.0 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 68.83 | 4.07 | 0.0 | -12.16 | 47.92 | 0.0 | -18.86 | -62.73 | 0.0 | -15.10 | -52.83 | 0.0 | -1.24 | -49.4 | 0.0 | -1.08 | -50.0 | 0.0 | 0.07 | 0.0 | 0.0 | -13.64 | -104.5 | 0.0 | 15.12 | 0.8 | 0.0 | 62.50 | -71.59 | 0.0 | 37.50 | 137.5 | 0.0 | 61.83 | 8.06 | 0.0 |
| 19Q3 (3) | 66.14 | 17.17 | 0.0 | -23.35 | -126.1 | 0.0 | -11.59 | -113.46 | 0.0 | -9.88 | -114.88 | 0.0 | -0.83 | -114.56 | 0.0 | -0.72 | -114.34 | 0.0 | 0.07 | -12.5 | 0.0 | -6.67 | -107.32 | 0.0 | 15.00 | -6.77 | 0.0 | 220.00 | 109.27 | 0.0 | -100.00 | -1850.0 | 0.0 | 57.22 | 1.38 | 0.0 |
| 19Q2 (2) | 56.45 | -17.7 | 0.0 | 89.47 | 1669.65 | 0.0 | 86.12 | 5918.92 | 0.0 | 66.39 | 3402.99 | 0.0 | 5.70 | 3266.67 | 0.0 | 5.02 | 3052.94 | 0.0 | 0.08 | 0.0 | 0.0 | 91.11 | 4177.46 | 0.0 | 16.09 | 49.95 | 0.0 | 105.13 | -64.96 | 0.0 | -5.13 | 97.44 | 0.0 | 56.44 | 3.43 | 0.0 |
| 19Q1 (1) | 68.59 | 0.0 | 0.0 | -5.70 | 0.0 | 0.0 | -1.48 | 0.0 | 0.0 | -2.01 | 0.0 | 0.0 | -0.18 | 0.0 | 0.0 | -0.17 | 0.0 | 0.0 | 0.08 | 0.0 | 0.0 | 2.13 | 0.0 | 0.0 | 10.73 | 0.0 | 0.0 | 300.00 | 0.0 | 0.0 | -200.00 | 0.0 | 0.0 | 54.57 | 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) | 58.94 | -3.39 | -15.02 | 0 | 3.64 | 7.64 | -112.34 | 0 | -90.02 | 0 | -29.83 | 0 | -26.12 | 0 | 0.29 | 31.82 | -108.48 | 0 | 14.60 | 5.26 | 13.44 | 0 | 86.56 | -37.05 | 0.85 | 88.42 | 40.28 | -16.79 |
| 2022 (9) | 61.01 | -1.93 | -8.00 | 0 | 3.38 | -13.51 | 21.53 | -50.01 | 17.38 | -45.52 | 4.44 | -41.35 | 3.90 | -41.96 | 0.22 | 4.76 | 25.00 | -47.55 | 13.87 | 1.61 | -37.50 | 0 | 137.50 | 740.28 | 0.45 | -2.85 | 48.41 | -35.25 |
| 2021 (8) | 62.21 | -9.5 | 36.40 | 0 | 3.91 | 1.56 | 43.07 | 0 | 31.90 | 0 | 7.57 | 0 | 6.72 | 0 | 0.21 | -22.22 | 47.66 | 0 | 13.65 | 20.26 | 85.45 | -35.91 | 16.36 | 0 | 0.46 | -56.4 | 74.76 | 47.31 |
| 2020 (7) | 68.74 | 5.75 | -13.03 | 0 | 3.85 | 16.03 | -9.45 | 0 | -7.95 | 0 | -2.40 | 0 | -2.12 | 0 | 0.27 | -12.9 | -5.13 | 0 | 11.35 | -24.93 | 133.33 | 51.52 | -40.00 | 0 | 1.06 | 28.5 | 50.75 | -11.65 |
| 2019 (6) | 65.00 | -1.99 | 12.15 | 0 | 3.31 | 13.26 | 13.73 | 1478.16 | 9.99 | 2025.53 | 3.48 | 1731.58 | 3.05 | 1694.12 | 0.31 | -11.43 | 18.23 | 273.57 | 15.12 | 16.22 | 88.00 | 0 | 12.00 | -98.0 | 0.83 | -31.64 | 57.44 | 7.79 |
| 2018 (5) | 66.32 | -2.37 | -5.18 | 0 | 2.93 | 7.04 | 0.87 | -88.93 | 0.47 | -92.85 | 0.19 | -94.06 | 0.17 | -93.95 | 0.35 | -18.6 | 4.88 | -56.93 | 13.01 | -5.59 | -550.00 | 0 | 600.00 | 0 | 1.21 | 0 | 53.29 | 22.87 |
| 2017 (4) | 67.93 | -0.26 | 8.14 | -10.06 | 2.73 | 22.14 | 7.86 | -27.09 | 6.57 | -28.2 | 3.20 | -30.59 | 2.81 | -30.79 | 0.43 | -2.27 | 11.33 | -20.1 | 13.78 | 3.14 | 105.00 | 26.88 | -5.00 | 0 | 0.00 | 0 | 43.37 | 2.38 |
| 2016 (3) | 68.11 | -0.07 | 9.05 | 31.16 | 2.24 | -14.93 | 10.78 | 17.56 | 9.15 | 21.35 | 4.61 | 23.59 | 4.06 | 24.54 | 0.44 | 2.33 | 14.18 | 10.95 | 13.36 | 0.07 | 82.76 | 10.34 | 17.24 | -31.03 | 0.00 | 0 | 42.36 | -1.33 |
| 2015 (2) | 68.16 | 0.95 | 6.90 | -28.79 | 2.63 | -0.99 | 9.17 | -23.13 | 7.54 | -22.82 | 3.73 | -31.81 | 3.26 | -30.34 | 0.43 | -10.42 | 12.78 | -16.36 | 13.35 | -13.7 | 75.00 | -6.9 | 25.00 | 28.57 | 0.00 | 0 | 42.93 | 6.79 |
| 2014 (1) | 67.52 | 0 | 9.69 | 0 | 2.66 | -2.84 | 11.93 | 0 | 9.77 | 0 | 5.47 | 0 | 4.68 | 0 | 0.48 | -5.88 | 15.28 | 14.29 | 15.47 | -14.58 | 80.56 | -4.53 | 19.44 | 3.7 | 0.00 | 0 | 40.20 | 1.75 |
