- 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) | 6.68 | -67.56 | -64.26 | -39.29 | -139.43 | -488.17 | -34.90 | -269.7 | -304.4 | -35.69 | -257.62 | -287.51 | -2.51 | -164.21 | -99.21 | -2.25 | -167.86 | -102.7 | 0.06 | -33.33 | -50.0 | -30.56 | -409.33 | -473.36 | 10.31 | -13.51 | -19.64 | 107.69 | -32.69 | 29.23 | -15.38 | 74.36 | -192.31 | 26.23 | 32.68 | 60.43 |
| 23Q3 (19) | 20.59 | -20.07 | -10.52 | -16.41 | -96.76 | -106.16 | -9.44 | -1265.43 | -2584.21 | -9.98 | -3319.35 | -2395.0 | -0.95 | -3266.67 | -2275.0 | -0.84 | -1780.0 | -2700.0 | 0.09 | -10.0 | -10.0 | -6.00 | -214.07 | -220.0 | 11.92 | 4.93 | 5.67 | 160.00 | 0 | 0 | -60.00 | 0 | 0 | 19.77 | 17.96 | -2.9 |
| 23Q2 (18) | 25.76 | 109.43 | -15.98 | -8.34 | 70.0 | -656.0 | 0.81 | 102.94 | -90.17 | 0.31 | 101.1 | -95.95 | 0.03 | 101.13 | -96.74 | 0.05 | 102.13 | -93.83 | 0.10 | 25.0 | 0.0 | 5.26 | 121.92 | -51.16 | 11.36 | -6.04 | -36.5 | 0.00 | -100.0 | -100.0 | 0.00 | 0 | -100.0 | 16.76 | -30.74 | -6.0 |
| 23Q1 (17) | 12.30 | -34.19 | -60.64 | -27.80 | -316.17 | -326.38 | -27.54 | -219.12 | -292.31 | -28.11 | -205.21 | -244.06 | -2.66 | -111.11 | -216.67 | -2.35 | -111.71 | -221.92 | 0.08 | -33.33 | -11.11 | -24.00 | -350.28 | -583.76 | 12.09 | -5.77 | -6.71 | 100.00 | 20.0 | 0.0 | -0.00 | -100.0 | 0 | 24.20 | 48.01 | 35.57 |
| 22Q4 (16) | 18.69 | -18.77 | -33.37 | -6.68 | 16.08 | 27.47 | -8.63 | -2371.05 | -183.88 | -9.21 | -2202.5 | -107.9 | -1.26 | -3050.0 | -147.06 | -1.11 | -3600.0 | -152.27 | 0.12 | 20.0 | 20.0 | -5.33 | -206.6 | 0 | 12.83 | 13.74 | -14.92 | 83.33 | 0 | -72.22 | 16.67 | 0 | 108.33 | 16.35 | -19.7 | 8.06 |
| 22Q3 (15) | 23.01 | -24.95 | -35.98 | -7.96 | -630.67 | -229.22 | 0.38 | -95.39 | -85.33 | -0.40 | -105.22 | -500.0 | -0.04 | -104.35 | -500.0 | -0.03 | -103.7 | -250.0 | 0.10 | 0.0 | 0.0 | 5.00 | -53.57 | -16.25 | 11.28 | -36.95 | 3.58 | 0.00 | -100.0 | -100.0 | 0.00 | -100.0 | 100.0 | 20.36 | 14.19 | 50.26 |
| 22Q2 (14) | 30.66 | -1.89 | -6.55 | 1.50 | 123.01 | -89.69 | 8.24 | 217.38 | -13.17 | 7.66 | 193.76 | -12.36 | 0.92 | 209.52 | -52.58 | 0.81 | 210.96 | -53.18 | 0.10 | 11.11 | -50.0 | 10.77 | 406.84 | -6.67 | 17.89 | 38.04 | 73.35 | 20.00 | -80.0 | -87.37 | 80.00 | 0 | 237.14 | 17.83 | -0.11 | 84.19 |
| 22Q1 (13) | 31.25 | 11.41 | -14.1 | -6.52 | 29.21 | -186.59 | -7.02 | -130.92 | -173.2 | -8.17 | -84.42 | -195.67 | -0.84 | -64.71 | -162.69 | -0.73 | -65.91 | -162.39 | 0.09 | -10.0 | -35.71 | -3.51 | 0 | -128.72 | 12.96 | -14.06 | -11.6 | 100.00 | -66.67 | 28.57 | -0.00 | 100.0 | -100.0 | 17.85 | 17.98 | 23.7 |
| 21Q4 (12) | 28.05 | -21.95 | -16.02 | -9.21 | -249.51 | -250.0 | -3.04 | -217.37 | -127.69 | -4.43 | -4530.0 | -141.83 | -0.51 | -5200.0 | -125.25 | -0.44 | -2300.0 | -124.58 | 0.10 | 0.0 | -41.18 | 0.00 | -100.0 | -100.0 | 15.08 | 38.48 | 6.2 | 300.00 | 50.0 | 414.29 | -200.00 | -100.0 | -580.0 | 15.13 | 11.66 | 15.32 |
| 21Q3 (11) | 35.94 | 9.54 | 6.14 | 6.16 | -57.66 | 103.97 | 2.59 | -72.71 | 517.74 | 0.10 | -98.86 | 112.82 | 0.01 | -99.48 | 108.33 | 0.02 | -98.84 | 120.0 | 0.10 | -50.0 | -28.57 | 5.97 | -48.27 | 75.07 | 10.89 | 5.52 | -11.17 | 200.00 | 26.32 | 166.67 | -100.00 | -71.43 | -133.33 | 13.55 | 39.98 | -14.56 |
| 21Q2 (10) | 32.81 | -9.81 | -3.22 | 14.55 | 93.23 | 48400.0 | 9.49 | -1.04 | 217.39 | 8.74 | 2.34 | 198.29 | 1.94 | 44.78 | 340.91 | 1.73 | 47.86 | 355.26 | 0.20 | 42.86 | 53.85 | 11.54 | -5.56 | 61.62 | 10.32 | -29.6 | -43.7 | 158.33 | 103.57 | 0 | -58.33 | -362.5 | -158.33 | 9.68 | -32.92 | -43.16 |
| 21Q1 (9) | 36.38 | 8.92 | 0.33 | 7.53 | 22.64 | 120.18 | 9.59 | -12.66 | 118.45 | 8.54 | -19.36 | 112.97 | 1.34 | -33.66 | 112.7 | 1.17 | -34.64 | 116.67 | 0.14 | -17.65 | 7.69 | 12.22 | -12.84 | 53.71 | 14.66 | 3.24 | -5.91 | 77.78 | 33.33 | 3.7 | 22.22 | -46.67 | -11.11 | 14.43 | 9.98 | 0 |
| 20Q4 (8) | 33.40 | -1.36 | -12.79 | 6.14 | 103.31 | -30.39 | 10.98 | 1870.97 | -45.07 | 10.59 | 1457.69 | -46.27 | 2.02 | 1783.33 | -49.88 | 1.79 | 1890.0 | -46.88 | 0.17 | 21.43 | 0.0 | 14.02 | 311.14 | -39.6 | 14.20 | 15.82 | -26.16 | 58.33 | 119.44 | 28.33 | 41.67 | -86.11 | -29.49 | 13.12 | -17.28 | -11.17 |
| 20Q3 (7) | 33.86 | -0.12 | 10.33 | 3.02 | 9966.67 | 159.1 | -0.62 | -120.74 | -342.86 | -0.78 | -126.62 | -750.0 | -0.12 | -127.27 | -700.0 | -0.10 | -126.32 | -600.0 | 0.14 | 7.69 | -12.5 | 3.41 | -52.24 | -13.01 | 12.26 | -33.12 | -39.13 | -300.00 | 0 | 0 | 300.00 | 200.0 | 0 | 15.86 | -6.87 | -12.57 |
| 20Q2 (6) | 33.90 | -6.51 | 18.41 | 0.03 | -99.12 | 102.88 | 2.99 | -31.89 | -17.63 | 2.93 | -26.93 | -34.3 | 0.44 | -30.16 | -53.68 | 0.38 | -29.63 | -50.0 | 0.13 | 0.0 | -23.53 | 7.14 | -10.19 | 1.71 | 18.33 | 17.65 | -21.57 | 0.00 | -100.0 | 100.0 | 100.00 | 300.0 | -20.0 | 17.03 | 0 | 14.76 |
| 20Q1 (5) | 36.26 | -5.33 | 24.6 | 3.42 | -61.22 | 249.34 | 4.39 | -78.04 | 995.92 | 4.01 | -79.65 | 311.05 | 0.63 | -84.37 | 265.79 | 0.54 | -83.98 | 274.19 | 0.13 | -23.53 | -18.75 | 7.95 | -65.75 | 177.97 | 15.58 | -18.98 | -39.92 | 75.00 | 65.0 | -62.5 | 25.00 | -57.69 | 112.5 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 38.30 | 24.8 | 0.0 | 8.82 | 272.6 | 0.0 | 19.99 | 14378.57 | 0.0 | 19.71 | 16325.0 | 0.0 | 4.03 | 20050.0 | 0.0 | 3.37 | 16750.0 | 0.0 | 0.17 | 6.25 | 0.0 | 23.21 | 492.09 | 0.0 | 19.23 | -4.52 | 0.0 | 45.45 | 0 | 0.0 | 59.09 | 0 | 0.0 | 14.77 | -18.58 | 0.0 |
| 19Q3 (3) | 30.69 | 7.2 | 0.0 | -5.11 | -391.35 | 0.0 | -0.14 | -103.86 | 0.0 | 0.12 | -97.31 | 0.0 | 0.02 | -97.89 | 0.0 | 0.02 | -97.37 | 0.0 | 0.16 | -5.88 | 0.0 | 3.92 | -44.16 | 0.0 | 20.14 | -13.82 | 0.0 | 0.00 | 100.0 | 0.0 | 0.00 | -100.0 | 0.0 | 18.14 | 22.24 | 0.0 |
| 19Q2 (2) | 28.63 | -1.62 | 0.0 | -1.04 | 54.59 | 0.0 | 3.63 | 840.82 | 0.0 | 4.46 | 334.74 | 0.0 | 0.95 | 350.0 | 0.0 | 0.76 | 345.16 | 0.0 | 0.17 | 6.25 | 0.0 | 7.02 | 145.45 | 0.0 | 23.37 | -9.87 | 0.0 | -25.00 | -112.5 | 0.0 | 125.00 | 162.5 | 0.0 | 14.84 | -10.12 | 0.0 |
| 19Q1 (1) | 29.10 | 0.0 | 0.0 | -2.29 | 0.0 | 0.0 | -0.49 | 0.0 | 0.0 | -1.90 | 0.0 | 0.0 | -0.38 | 0.0 | 0.0 | -0.31 | 0.0 | 0.0 | 0.16 | 0.0 | 0.0 | 2.86 | 0.0 | 0.0 | 25.93 | 0.0 | 0.0 | 200.00 | 0.0 | 0.0 | -200.00 | 0.0 | 0.0 | 16.51 | 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) | 17.35 | -32.04 | -21.28 | 0 | 2.07 | 33.68 | -15.91 | 0 | -16.49 | 0 | -6.09 | 0 | -5.40 | 0 | 0.33 | -19.51 | -11.92 | 0 | 10.31 | -19.64 | 132.26 | -49.13 | -32.26 | 0 | 8.98 | 7.19 | 21.25 | 18.12 |
| 2022 (9) | 25.53 | -23.65 | -4.86 | 0 | 1.55 | 9.15 | -1.88 | 0 | -2.64 | 0 | -1.23 | 0 | -1.03 | 0 | 0.41 | -24.07 | 1.55 | -81.81 | 12.83 | -14.92 | 260.00 | 127.5 | -160.00 | 0 | 8.37 | 0.49 | 17.99 | 42.33 |
| 2021 (8) | 33.44 | -2.54 | 6.77 | 102.69 | 1.42 | -41.92 | 5.89 | 22.96 | 4.61 | 1.77 | 2.87 | -3.04 | 2.53 | -0.78 | 0.54 | -3.57 | 8.52 | -2.07 | 15.08 | 6.2 | 114.29 | 71.43 | -14.29 | 0 | 8.33 | -19.53 | 12.64 | -18.82 |
| 2020 (7) | 34.31 | 8.1 | 3.34 | 1236.0 | 2.45 | 17.66 | 4.79 | -20.03 | 4.53 | -22.56 | 2.96 | -36.21 | 2.55 | -34.95 | 0.56 | -16.42 | 8.70 | -5.84 | 14.20 | -26.16 | 66.67 | 1633.33 | 27.78 | -71.11 | 10.36 | -3.78 | 15.57 | -2.75 |
| 2019 (6) | 31.74 | 23.21 | 0.25 | 0 | 2.08 | 22.63 | 5.99 | 0 | 5.85 | 0 | 4.64 | 0 | 3.92 | 0 | 0.67 | -11.84 | 9.24 | 0 | 19.23 | 2.78 | 3.85 | -93.98 | 96.15 | 179.3 | 10.76 | -11.94 | 16.01 | -19.51 |
| 2018 (5) | 25.76 | -20.17 | -7.43 | 0 | 1.69 | -7.8 | -11.44 | 0 | -11.69 | 0 | -10.74 | 0 | -8.83 | 0 | 0.76 | 8.57 | -8.66 | 0 | 18.71 | -22.07 | 63.93 | 0 | 34.43 | -72.95 | 12.22 | 0 | 19.89 | 19.46 |
| 2017 (4) | 32.27 | -0.22 | -0.98 | 0 | 1.84 | -31.78 | 4.09 | 14.57 | 3.31 | 23.51 | 2.93 | 47.24 | 2.35 | 45.96 | 0.70 | 16.67 | 6.80 | 3.19 | 24.01 | -11.01 | -22.73 | 0 | 127.27 | 0 | 0.00 | 0 | 16.65 | -18.9 |
| 2016 (3) | 32.34 | 32.32 | 5.12 | 0 | 2.69 | -58.13 | 3.57 | 0 | 2.68 | 0 | 1.99 | 0 | 1.61 | 0 | 0.60 | 25.0 | 6.59 | 0 | 26.98 | 55.06 | 141.67 | 690.97 | -41.67 | 0 | 0.00 | 0 | 20.53 | -36.2 |
| 2015 (2) | 24.44 | 1.83 | -5.88 | 0 | 6.44 | 8.91 | -33.15 | 0 | -53.68 | 0 | -18.95 | 0 | -15.95 | 0 | 0.48 | 14.29 | -26.73 | 0 | 17.40 | -12.12 | 17.91 | -93.49 | 82.09 | 0 | 0.00 | 0 | 32.18 | -10.96 |
| 2014 (1) | 24.00 | 0 | -5.05 | 0 | 5.91 | 117.16 | -1.76 | 0 | -19.16 | 0 | -1.03 | 0 | -0.83 | 0 | 0.42 | -23.64 | 4.55 | -21.28 | 19.80 | 16.2 | 275.00 | 0 | -175.00 | 0 | 0.00 | 0 | 36.14 | 40.02 |
