- 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) | 16.86 | 9.55 | 8.08 | 5.23 | -10.9 | 37.63 | 4.97 | -19.97 | 124.89 | 4.46 | -27.71 | 103.65 | 3.97 | -53.62 | 48.13 | 1.80 | -51.09 | 66.67 | 0.39 | -33.9 | -11.36 | 7.01 | -7.76 | 63.02 | 111.08 | -20.72 | -28.52 | 104.80 | 10.79 | -38.95 | -4.80 | -188.8 | 93.3 | 16.06 | 8.73 | 7.21 |
| 23Q3 (19) | 15.39 | -2.35 | 13.16 | 5.87 | 2.98 | 22.04 | 6.21 | 17.39 | -0.16 | 6.17 | 18.43 | 3.35 | 8.56 | 46.08 | -31.74 | 3.68 | 44.88 | -6.6 | 0.59 | 22.92 | -7.81 | 7.60 | 3.97 | 0.13 | 140.11 | 8.37 | -32.34 | 94.59 | -11.97 | 22.22 | 5.41 | 172.43 | -76.09 | 14.77 | -1.66 | 6.11 |
| 23Q2 (18) | 15.76 | 13.63 | 83.26 | 5.70 | 33.18 | 578.57 | 5.29 | 60.3 | 213.02 | 5.21 | 54.14 | 189.44 | 5.86 | 88.42 | 70.35 | 2.54 | 92.42 | 146.6 | 0.48 | 29.73 | -7.69 | 7.31 | 23.9 | 127.02 | 129.29 | -9.68 | -48.92 | 107.46 | -16.28 | 114.93 | -7.46 | 75.0 | -114.93 | 15.02 | -6.24 | 9.0 |
| 23Q1 (17) | 13.87 | -11.09 | 76.02 | 4.28 | 12.63 | 21500.0 | 3.30 | 49.32 | 1400.0 | 3.38 | 54.34 | 16800.0 | 3.11 | 16.04 | 10266.67 | 1.32 | 22.22 | 915.38 | 0.37 | -15.91 | -7.5 | 5.90 | 37.21 | 137.9 | 143.15 | -7.88 | -50.33 | 128.36 | -25.23 | 870.15 | -29.85 | 58.35 | -129.85 | 16.02 | 6.94 | -1.96 |
| 22Q4 (16) | 15.60 | 14.71 | 164.41 | 3.80 | -21.0 | 136.02 | 2.21 | -64.47 | -85.54 | 2.19 | -63.32 | -86.44 | 2.68 | -78.63 | -89.42 | 1.08 | -72.59 | -80.95 | 0.44 | -31.25 | 29.41 | 4.30 | -43.35 | -76.22 | 155.40 | -24.95 | -44.76 | 171.67 | 121.81 | 349.43 | -71.67 | -417.03 | -142.45 | 14.98 | 7.61 | -32.43 |
| 22Q3 (15) | 13.60 | 58.14 | 48.96 | 4.81 | 472.62 | 275.78 | 6.22 | 268.05 | 147.81 | 5.97 | 231.67 | 39.49 | 12.54 | 264.53 | 18.08 | 3.94 | 282.52 | 95.05 | 0.64 | 23.08 | 45.45 | 7.59 | 135.71 | 54.9 | 207.07 | -18.2 | -54.9 | 77.39 | 54.79 | 50.49 | 22.61 | -54.79 | -53.46 | 13.92 | 1.02 | -17.04 |
| 22Q2 (14) | 8.60 | 9.14 | -22.59 | 0.84 | 4300.0 | -6.67 | 1.69 | 668.18 | -22.83 | 1.80 | 8900.0 | 30.43 | 3.44 | 11366.67 | 4.88 | 1.03 | 692.31 | 47.14 | 0.52 | 30.0 | 23.81 | 3.22 | 29.84 | -36.99 | 253.13 | -12.17 | -45.15 | 50.00 | 400.0 | 25.0 | 50.00 | -50.0 | -14.06 | 13.78 | -15.67 | -18.17 |
| 22Q1 (13) | 7.88 | 33.56 | 45.39 | -0.02 | 99.81 | 99.7 | 0.22 | -98.56 | 102.95 | 0.02 | -99.88 | 100.26 | 0.03 | -99.88 | 100.23 | 0.13 | -97.71 | 105.83 | 0.40 | 17.65 | 29.03 | 2.48 | -86.28 | 177.5 | 288.21 | 2.45 | -37.98 | -16.67 | 75.78 | -118.78 | 100.00 | -40.77 | 787.5 | 16.34 | -26.3 | -24.39 |
| 21Q4 (12) | 5.90 | -35.38 | 41.49 | -10.55 | -924.22 | -16.19 | 15.28 | 508.76 | 239.16 | 16.15 | 277.34 | 244.71 | 25.32 | 138.42 | 214.11 | 5.67 | 180.69 | 232.48 | 0.34 | -22.73 | -12.82 | 18.08 | 268.98 | 328.57 | 281.31 | -38.73 | -36.32 | -68.82 | -233.82 | -183.22 | 168.82 | 247.58 | 875.8 | 22.17 | 32.12 | 17.24 |
| 21Q3 (11) | 9.13 | -17.82 | 16.6 | 1.28 | 42.22 | 509.52 | 2.51 | 14.61 | 369.89 | 4.28 | 210.14 | 550.53 | 10.62 | 223.78 | 600.94 | 2.02 | 188.57 | 592.68 | 0.44 | 4.76 | -16.98 | 4.90 | -4.11 | 279.84 | 459.14 | -0.5 | 21.33 | 51.43 | 28.57 | 320.41 | 48.57 | -16.52 | -60.62 | 16.78 | -0.36 | 5.01 |
| 21Q2 (10) | 11.11 | 104.98 | 57.14 | 0.90 | 113.64 | 116.33 | 2.19 | 129.32 | 141.63 | 1.38 | 118.16 | 128.93 | 3.28 | 125.23 | 155.03 | 0.70 | 131.39 | 142.68 | 0.42 | 35.48 | 13.51 | 5.11 | 259.69 | 560.36 | 461.47 | -0.69 | 71.86 | 40.00 | -54.92 | -61.9 | 58.18 | 416.36 | 1263.64 | 16.84 | -22.07 | -21.78 |
| 21Q1 (9) | 5.42 | 29.98 | 263.76 | -6.60 | 27.31 | 71.51 | -7.47 | 31.97 | 67.01 | -7.60 | 31.9 | 66.31 | -13.00 | 41.42 | 14.25 | -2.23 | 47.9 | 55.4 | 0.31 | -20.51 | 34.78 | -3.20 | 59.54 | 81.75 | 464.69 | 5.18 | 116.22 | 88.73 | 7.3 | -13.25 | 11.27 | -34.87 | 592.02 | 21.61 | 14.28 | -36.2 |
| 20Q4 (8) | 4.17 | -46.74 | -66.51 | -9.08 | -4423.81 | -1716.0 | -10.98 | -1080.65 | -701.46 | -11.16 | -1074.74 | -765.12 | -22.19 | -946.7 | -1295.6 | -4.28 | -943.9 | -943.9 | 0.39 | -26.42 | -2.5 | -7.91 | -713.18 | -415.14 | 441.79 | 16.74 | 140.95 | 82.70 | 454.42 | 120.53 | 17.30 | -85.97 | -72.32 | 18.91 | 18.34 | 0 |
| 20Q3 (7) | 7.83 | 10.75 | -49.81 | 0.21 | 103.81 | -96.28 | -0.93 | 82.32 | -112.58 | -0.95 | 80.08 | -115.25 | -2.12 | 64.43 | -118.0 | -0.41 | 75.0 | -110.96 | 0.53 | 43.24 | -8.62 | 1.29 | 216.22 | -85.29 | 378.43 | 40.94 | 61.88 | -23.33 | -122.22 | -130.56 | 123.33 | 2566.67 | 421.64 | 15.98 | -25.78 | 4.04 |
| 20Q2 (6) | 7.07 | 374.5 | -54.0 | -5.51 | 76.22 | -226.38 | -5.26 | 76.77 | -209.13 | -4.77 | 78.86 | -221.99 | -5.96 | 60.69 | -208.76 | -1.64 | 67.2 | -183.67 | 0.37 | 60.87 | -19.57 | -1.11 | 93.67 | -113.91 | 268.51 | 24.93 | 24.36 | 105.00 | 2.65 | 16.67 | -5.00 | -118.33 | -150.0 | 21.53 | -36.43 | 22.82 |
| 20Q1 (5) | 1.49 | -88.03 | -87.91 | -23.17 | -4534.0 | -893.49 | -22.64 | -1552.55 | -1542.04 | -22.56 | -1648.84 | -2188.89 | -15.16 | -853.46 | -1198.55 | -5.00 | -1119.51 | -906.45 | 0.23 | -42.5 | -46.51 | -17.53 | -798.41 | -452.01 | 214.92 | 17.22 | 12.88 | 102.29 | 172.77 | -44.92 | -2.29 | -103.66 | 97.33 | 33.87 | 0 | 93.54 |
| 19Q4 (4) | 12.45 | -20.19 | 0.0 | -0.50 | -108.87 | 0.0 | -1.37 | -118.54 | 0.0 | -1.29 | -120.71 | 0.0 | -1.59 | -113.5 | 0.0 | -0.41 | -110.96 | 0.0 | 0.40 | -31.03 | 0.0 | 2.51 | -71.38 | 0.0 | 183.35 | -21.57 | 0.0 | 37.50 | -50.89 | 0.0 | 62.50 | 164.34 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 15.60 | 1.5 | 0.0 | 5.64 | 29.36 | 0.0 | 7.39 | 53.32 | 0.0 | 6.23 | 59.34 | 0.0 | 11.78 | 114.96 | 0.0 | 3.74 | 90.82 | 0.0 | 0.58 | 26.09 | 0.0 | 8.77 | 9.9 | 0.0 | 233.77 | 8.27 | 0.0 | 76.36 | -15.16 | 0.0 | 23.64 | 136.43 | 0.0 | 15.36 | -12.38 | 0.0 |
| 19Q2 (2) | 15.37 | 24.76 | 0.0 | 4.36 | 49.32 | 0.0 | 4.82 | 207.01 | 0.0 | 3.91 | 262.04 | 0.0 | 5.48 | 297.1 | 0.0 | 1.96 | 216.13 | 0.0 | 0.46 | 6.98 | 0.0 | 7.98 | 60.24 | 0.0 | 215.92 | 13.4 | 0.0 | 90.00 | -51.54 | 0.0 | 10.00 | 111.67 | 0.0 | 17.53 | 0.17 | 0.0 |
| 19Q1 (1) | 12.32 | 0.0 | 0.0 | 2.92 | 0.0 | 0.0 | 1.57 | 0.0 | 0.0 | 1.08 | 0.0 | 0.0 | 1.38 | 0.0 | 0.0 | 0.62 | 0.0 | 0.0 | 0.43 | 0.0 | 0.0 | 4.98 | 0.0 | 0.0 | 190.40 | 0.0 | 0.0 | 185.71 | 0.0 | 0.0 | -85.71 | 0.0 | 0.0 | 17.50 | 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) | 15.54 | 34.2 | 5.37 | 106.54 | 1.65 | 27.64 | 5.15 | 72.24 | 5.01 | 73.36 | 20.94 | 10.68 | 9.28 | 40.18 | 1.81 | -14.62 | 7.07 | 49.79 | 111.08 | -28.52 | 104.38 | 20.41 | -4.38 | 0 | 0.25 | -37.69 | 15.37 | 5.35 |
| 2022 (9) | 11.58 | 42.26 | 2.60 | 0 | 1.30 | -29.9 | 2.99 | -12.57 | 2.89 | -25.9 | 18.92 | -26.78 | 6.62 | 6.43 | 2.12 | 43.24 | 4.72 | -26.48 | 155.40 | -44.76 | 86.68 | 0 | 13.05 | -93.26 | 0.40 | -34.86 | 14.59 | -23.41 |
| 2021 (8) | 8.14 | 41.07 | -3.21 | 0 | 1.85 | -16.1 | 3.42 | 0 | 3.90 | 0 | 25.84 | 0 | 6.22 | 0 | 1.48 | -3.27 | 6.42 | 0 | 281.31 | -36.32 | -93.79 | 0 | 193.79 | 1636.45 | 0.62 | -85.67 | 19.05 | -6.34 |
| 2020 (7) | 5.77 | -59.22 | -6.77 | 0 | 2.20 | 22.11 | -7.62 | 0 | -7.56 | 0 | -44.29 | 0 | -11.16 | 0 | 1.53 | -25.0 | -4.36 | 0 | 441.79 | 140.95 | 88.84 | -5.7 | 11.16 | 92.76 | 4.29 | -7.0 | 20.34 | 4.95 |
| 2019 (6) | 14.15 | 10.29 | 3.40 | 8.28 | 1.80 | -4.45 | 3.61 | 0.84 | 2.93 | 8.92 | 17.29 | 12.49 | 6.52 | 13.79 | 2.04 | 7.37 | 6.39 | -0.93 | 183.35 | -6.96 | 94.21 | 7.21 | 5.79 | -52.24 | 4.62 | -11.05 | 19.38 | -0.97 |
| 2018 (5) | 12.83 | 15.17 | 3.14 | 15600.0 | 1.89 | -25.11 | 3.58 | 67.29 | 2.69 | 66.05 | 15.37 | 84.07 | 5.73 | 71.56 | 1.90 | 9.83 | 6.45 | 19.0 | 197.07 | -4.41 | 87.88 | 14400.0 | 12.12 | -87.73 | 5.19 | -2.21 | 19.57 | -4.86 |
| 2017 (4) | 11.14 | -28.36 | 0.02 | -98.78 | 2.52 | -23.42 | 2.14 | -28.43 | 1.62 | -21.74 | 8.35 | -2.45 | 3.34 | -3.75 | 1.73 | 21.83 | 5.42 | -22.46 | 206.16 | 8.94 | 0.61 | -98.9 | 98.79 | 119.15 | 5.31 | 0 | 20.57 | -4.1 |
| 2016 (3) | 15.55 | 2.98 | 1.64 | -36.92 | 3.29 | 31.16 | 2.99 | -18.97 | 2.07 | -33.87 | 8.56 | -41.13 | 3.47 | -49.19 | 1.42 | -29.35 | 6.99 | 3.4 | 189.25 | -2.14 | 54.92 | -22.02 | 45.08 | 52.45 | 0.00 | 0 | 21.45 | 16.26 |
| 2015 (2) | 15.10 | -4.85 | 2.60 | -50.0 | 2.51 | 67.9 | 3.69 | -33.99 | 3.13 | -32.69 | 14.54 | 0.48 | 6.83 | -24.36 | 2.01 | 4.69 | 6.76 | -8.28 | 193.38 | 159.64 | 70.43 | -24.08 | 29.57 | 327.39 | 0.00 | 0 | 18.45 | 8.59 |
| 2014 (1) | 15.87 | 0 | 5.20 | 0 | 1.50 | 14.75 | 5.59 | 0 | 4.65 | 0 | 14.47 | 0 | 9.03 | 0 | 1.92 | 0.0 | 7.37 | -13.8 | 74.48 | 51.69 | 92.77 | -3.13 | 6.92 | 63.44 | 0.00 | 0 | 16.99 | -0.88 |
