- 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) | 57.06 | 11.47 | 59.88 | 8.13 | 190.84 | 128.28 | 1.17 | 111.43 | 102.08 | 0.48 | 104.62 | 100.85 | 0.06 | 105.56 | 101.4 | 0.18 | 0 | 136.73 | 0.02 | 0.0 | 100.0 | 30.10 | -5.32 | 298.15 | 573.02 | 12.11 | 26.39 | 800.00 | 757.14 | 1476.47 | -700.00 | -5350.0 | -1521.21 | 36.66 | -14.9 | -27.64 |
| 23Q3 (19) | 51.19 | 12.85 | 60.87 | -8.95 | 57.48 | 79.41 | -10.24 | 74.83 | 79.25 | -10.38 | 74.59 | 79.03 | -1.08 | 69.41 | 68.05 | 0.00 | 100.0 | 100.0 | 0.02 | 100.0 | 100.0 | 31.79 | 238.91 | 790.48 | 511.12 | 3.83 | 21.07 | 93.33 | 79.75 | 4.76 | 13.33 | -72.27 | 4.76 | 43.08 | -13.44 | -19.54 |
| 23Q2 (18) | 45.36 | 7.39 | 45.76 | -21.05 | 7.8 | 37.26 | -40.69 | -14.98 | -48.67 | -40.85 | -14.94 | -40.38 | -3.53 | -12.78 | -73.89 | -0.42 | -13.51 | -55.56 | 0.01 | -50.0 | 0.0 | 9.38 | -25.5 | -62.16 | 492.27 | 5.38 | 23.17 | 51.92 | -19.6 | -57.4 | 48.08 | 35.75 | 319.78 | 49.77 | -4.84 | 6.19 |
| 23Q1 (17) | 42.24 | 18.35 | 66.69 | -22.83 | 20.59 | 61.39 | -35.39 | 37.18 | 48.2 | -35.54 | 37.3 | 48.13 | -3.13 | 26.87 | 23.66 | -0.37 | 24.49 | 47.89 | 0.02 | 100.0 | 100.0 | 12.59 | 66.53 | 263.72 | 467.14 | 3.03 | 22.8 | 64.58 | 27.27 | -24.83 | 35.42 | -28.09 | 151.46 | 52.30 | 3.24 | -13.85 |
| 22Q4 (16) | 35.69 | 12.16 | -3.51 | -28.75 | 33.85 | -25.88 | -56.34 | -14.19 | -130.81 | -56.68 | -14.51 | -128.92 | -4.28 | -26.63 | -153.25 | -0.49 | 5.77 | -122.73 | 0.01 | 0.0 | -50.0 | 7.56 | 111.76 | -72.87 | 453.39 | 7.4 | 22.84 | 50.75 | -43.04 | -45.63 | 49.25 | 286.99 | 638.81 | 50.66 | -5.38 | 7.72 |
| 22Q3 (15) | 31.82 | 2.25 | 95.69 | -43.46 | -29.54 | -2151.81 | -49.34 | -80.27 | -5039.58 | -49.50 | -70.1 | -4800.99 | -3.38 | -66.5 | -990.32 | -0.52 | -92.59 | -677.78 | 0.01 | 0.0 | -83.33 | 3.57 | -85.6 | -74.04 | 422.16 | 5.63 | 29.0 | 89.09 | -26.9 | -55.45 | 12.73 | 158.18 | 112.73 | 53.54 | 14.23 | 337.42 |
| 22Q2 (14) | 31.12 | 22.81 | 719.92 | -33.55 | 43.26 | 72.87 | -27.37 | 59.94 | 71.29 | -29.10 | 57.53 | 70.67 | -2.03 | 50.49 | 70.66 | -0.27 | 61.97 | 72.16 | 0.01 | 0.0 | 0.0 | 24.79 | 422.37 | 534.15 | 399.67 | 5.06 | -24.87 | 121.88 | 41.85 | -6.14 | -21.88 | -255.31 | 26.72 | 46.87 | -22.8 | -40.16 |
| 22Q1 (13) | 25.34 | -31.49 | 0.72 | -59.13 | -158.89 | -16.83 | -68.32 | -179.89 | -67.37 | -68.52 | -176.74 | -67.12 | -4.10 | -142.6 | 6.82 | -0.71 | -222.73 | -5.97 | 0.01 | -50.0 | -50.0 | -7.69 | -127.59 | -155.28 | 380.42 | 3.07 | -23.38 | 85.92 | -7.95 | -30.38 | 14.08 | 111.27 | 160.18 | 60.71 | 29.09 | 11.83 |
| 21Q4 (12) | 36.99 | 127.49 | 34.17 | -22.84 | -1083.42 | 66.25 | -24.41 | -2442.71 | 52.05 | -24.76 | -2351.49 | 52.26 | -1.69 | -445.16 | 67.81 | -0.22 | -344.44 | 80.36 | 0.02 | -66.67 | 0.0 | 27.87 | 102.69 | 959.7 | 369.09 | 12.78 | 3.16 | 93.33 | -53.33 | -29.7 | 6.67 | 106.67 | 120.35 | 47.03 | 284.23 | 0.79 |
| 21Q3 (11) | 16.26 | 423.9 | 43.64 | -1.93 | 98.44 | 97.77 | -0.96 | 98.99 | 96.34 | -1.01 | 98.98 | 96.18 | -0.31 | 95.52 | 85.02 | 0.09 | 109.28 | 120.93 | 0.06 | 500.0 | 200.0 | 13.75 | 340.81 | -64.25 | 327.26 | -38.48 | 24.5 | 200.00 | 54.02 | -38.46 | -100.00 | -235.0 | 56.36 | 12.24 | -84.37 | -79.2 |
| 21Q2 (10) | -5.02 | -119.95 | 84.93 | -123.67 | -144.36 | 21.47 | -95.32 | -133.51 | -159.26 | -99.20 | -141.95 | -159.22 | -6.92 | -57.27 | -190.69 | -0.97 | -44.78 | -140.42 | 0.01 | -50.0 | 0.0 | -5.71 | -141.05 | -102.11 | 531.94 | 7.14 | 123.11 | 129.85 | 5.22 | 233.06 | -29.85 | -27.54 | -115.11 | 78.32 | 44.26 | 0 |
| 21Q1 (9) | 25.16 | -8.74 | 10.4 | -50.61 | 25.22 | -2.49 | -40.82 | 19.82 | 28.44 | -41.00 | 20.94 | 28.36 | -4.40 | 16.19 | 32.62 | -0.67 | 40.18 | 57.86 | 0.02 | 0.0 | -33.33 | 13.91 | 428.9 | 414.71 | 496.47 | 38.76 | 104.28 | 123.40 | -7.05 | 41.03 | -23.40 | 28.56 | -266.43 | 54.29 | 16.35 | -7.34 |
| 20Q4 (8) | 27.57 | 143.55 | -49.4 | -67.68 | 21.68 | -1507.07 | -50.91 | -94.02 | -863.27 | -51.86 | -95.92 | -2858.51 | -5.25 | -153.62 | -1293.18 | -1.12 | -160.47 | -500.0 | 0.02 | 0.0 | -66.67 | 2.63 | -93.16 | -92.6 | 357.78 | 36.12 | 15.86 | 132.76 | -59.15 | 85.86 | -32.76 | 85.71 | -214.66 | 46.66 | -20.71 | 0 |
| 20Q3 (7) | 11.32 | 133.98 | -75.57 | -86.42 | 45.13 | -886.53 | -26.24 | -116.31 | -87.97 | -26.47 | -115.8 | -88.4 | -2.07 | -127.13 | 24.73 | -0.43 | -117.92 | 12.24 | 0.02 | 100.0 | -60.0 | 38.46 | -85.82 | 100.0 | 262.85 | 10.25 | -15.11 | 325.00 | 433.02 | 407.81 | -229.17 | -215.98 | -736.57 | 58.85 | 0 | 60.66 |
| 20Q2 (6) | -33.31 | -246.16 | -166.5 | -157.49 | -218.93 | -3338.65 | 160.85 | 382.0 | 1079.6 | 167.50 | 392.68 | 1043.13 | 7.63 | 216.85 | 325.07 | 2.40 | 250.94 | 469.23 | 0.01 | -66.67 | -80.0 | 271.15 | 6234.62 | 1509.2 | 238.42 | -1.9 | -22.15 | -97.59 | -211.53 | -465.96 | 197.59 | 1305.09 | 169.44 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 22.79 | -58.18 | -49.4 | -49.38 | -1126.61 | -333.92 | -57.04 | -955.17 | -207.99 | -57.23 | -3144.15 | -204.25 | -6.53 | -1584.09 | -85.51 | -1.59 | -667.86 | -82.76 | 0.03 | -50.0 | -50.0 | -4.42 | -112.43 | -127.25 | 243.04 | -21.3 | -18.19 | 87.50 | 22.5 | 41.67 | 14.06 | -50.78 | -63.22 | 58.59 | 0 | 41.35 |
| 19Q4 (4) | 54.49 | 17.61 | 0.0 | 4.81 | 154.91 | 0.0 | 6.67 | 147.78 | 0.0 | 1.88 | 113.38 | 0.0 | 0.44 | 116.0 | 0.0 | 0.28 | 157.14 | 0.0 | 0.06 | 20.0 | 0.0 | 35.55 | 84.87 | 0.0 | 308.80 | -0.27 | 0.0 | 71.43 | 11.61 | 0.0 | 28.57 | -20.63 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 46.33 | -7.51 | 0.0 | -8.76 | -91.27 | 0.0 | -13.96 | 14.98 | 0.0 | -14.05 | 20.89 | 0.0 | -2.75 | 18.88 | 0.0 | -0.49 | 24.62 | 0.0 | 0.05 | 0.0 | 0.0 | 19.23 | 14.12 | 0.0 | 309.65 | 1.1 | 0.0 | 64.00 | 140.0 | 0.0 | 36.00 | -50.91 | 0.0 | 36.63 | -1.98 | 0.0 |
| 19Q2 (2) | 50.09 | 11.21 | 0.0 | -4.58 | 59.75 | 0.0 | -16.42 | 11.34 | 0.0 | -17.76 | 5.58 | 0.0 | -3.39 | 3.69 | 0.0 | -0.65 | 25.29 | 0.0 | 0.05 | -16.67 | 0.0 | 16.85 | 3.88 | 0.0 | 306.27 | 3.09 | 0.0 | 26.67 | -56.83 | 0.0 | 73.33 | 91.79 | 0.0 | 37.37 | -9.84 | 0.0 |
| 19Q1 (1) | 45.04 | 0.0 | 0.0 | -11.38 | 0.0 | 0.0 | -18.52 | 0.0 | 0.0 | -18.81 | 0.0 | 0.0 | -3.52 | 0.0 | 0.0 | -0.87 | 0.0 | 0.0 | 0.06 | 0.0 | 0.0 | 16.22 | 0.0 | 0.0 | 297.08 | 0.0 | 0.0 | 61.76 | 0.0 | 0.0 | 38.24 | 0.0 | 0.0 | 41.45 | 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) | 49.87 | 59.99 | -9.08 | 0 | 27.75 | -30.7 | -18.53 | 0 | -18.86 | 0 | -7.66 | 0 | -0.56 | 0 | 0.07 | 40.0 | 22.33 | 196.94 | 573.02 | 26.39 | 48.67 | -40.48 | 51.33 | 174.97 | 0.01 | -12.54 | 44.46 | -15.64 |
| 2022 (9) | 31.17 | 63.36 | -40.62 | 0 | 40.04 | 47.36 | -49.84 | 0 | -50.46 | 0 | -13.74 | 0 | -1.97 | 0 | 0.05 | -54.55 | 7.52 | -47.3 | 453.39 | 22.84 | 81.78 | -33.13 | 18.67 | 0 | 0.01 | 0 | 52.70 | 70.66 |
| 2021 (8) | 19.08 | 40.19 | -24.60 | 0 | 27.17 | -50.71 | -20.07 | 0 | -20.55 | 0 | -10.52 | 0 | -1.63 | 0 | 0.11 | 22.22 | 14.27 | -69.48 | 369.09 | 3.16 | 122.30 | -73.7 | -22.30 | 0 | 0.00 | 0 | 30.88 | -49.4 |
| 2020 (7) | 13.61 | -72.33 | -79.23 | 0 | 55.14 | 99.37 | -17.14 | 0 | -16.61 | 0 | -6.19 | 0 | -0.82 | 0 | 0.09 | -64.0 | 46.76 | 107.45 | 357.78 | 15.86 | 465.08 | 909.89 | -363.49 | 0 | 0.00 | 0 | 61.03 | 59.81 |
| 2019 (6) | 49.18 | 40.23 | -4.63 | 0 | 27.65 | 343.67 | -9.94 | 0 | -11.68 | 0 | -9.47 | 0 | -2.01 | 0 | 0.25 | -52.83 | 22.54 | 152.13 | 308.80 | 118.73 | 46.05 | -87.01 | 53.95 | 0 | 1.47 | -33.12 | 38.19 | 91.33 |
| 2018 (5) | 35.07 | -17.07 | 5.28 | 1253.85 | 6.23 | -34.62 | 1.51 | 0 | 1.03 | 0 | 1.50 | 0 | 1.03 | 0 | 0.53 | 76.67 | 8.94 | -3.25 | 141.18 | -32.14 | 354.55 | 0 | -254.55 | 0 | 2.20 | 0 | 19.96 | -34.3 |
| 2017 (4) | 42.29 | -2.87 | 0.39 | -96.26 | 9.53 | 387.88 | -2.76 | 0 | -3.02 | 0 | -2.91 | 0 | -0.33 | 0 | 0.30 | 3.45 | 9.24 | -31.86 | 208.04 | -9.6 | -14.29 | 0 | 114.29 | 0 | 0.00 | 0 | 30.38 | 87.3 |
| 2016 (3) | 43.54 | -44.77 | 10.42 | 0 | 1.95 | -81.37 | 8.91 | 0 | 8.49 | 0 | 7.51 | 0 | 3.00 | 0 | 0.29 | 383.33 | 13.56 | 0 | 230.13 | 23.53 | 116.67 | 60.42 | -16.67 | 0 | 0.00 | 0 | 16.22 | -82.0 |
| 2015 (2) | 78.83 | 9.27 | -117.80 | 0 | 10.49 | -2.1 | -162.06 | 0 | -163.01 | 0 | -26.78 | 0 | -8.71 | 0 | 0.06 | -33.33 | -133.57 | 0 | 186.30 | 4.92 | 72.73 | -23.97 | 27.27 | 527.27 | 0.00 | 0 | 90.13 | 19.16 |
| 2014 (1) | 72.14 | 0 | -78.20 | 0 | 10.71 | 3190.26 | -81.79 | 0 | -82.77 | 0 | -15.45 | 0 | -6.76 | 0 | 0.09 | -93.75 | -61.31 | 0 | 177.56 | 217.13 | 95.65 | -7.26 | 4.35 | 0 | 0.00 | 0 | 75.64 | 2118.18 |
