- 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) | 17.43 | 7.39 | 22.32 | -6.41 | 9.59 | 27.41 | -9.76 | -155.77 | -56.66 | -9.02 | -156.02 | -69.23 | -0.95 | -149.22 | -3.26 | -0.72 | -146.45 | -28.57 | 0.08 | -11.11 | -27.27 | -4.44 | -119.92 | -300.0 | 24.58 | -8.56 | -47.08 | 65.38 | 263.46 | -55.05 | 34.62 | -75.27 | 184.62 | 19.85 | -8.78 | 11.14 |
| 23Q3 (19) | 16.23 | -14.08 | -7.57 | -7.09 | -638.54 | -540.37 | 17.50 | 232.07 | -17.41 | 16.10 | 181.96 | -20.88 | 1.93 | 132.53 | -64.46 | 1.55 | 127.94 | -57.42 | 0.09 | -18.18 | -50.0 | 22.29 | 138.65 | -4.78 | 26.88 | -3.55 | -53.28 | -40.00 | -153.33 | -620.0 | 140.00 | 15.65 | 51.67 | 21.76 | 22.11 | 42.6 |
| 23Q2 (18) | 18.89 | 162.36 | 21.25 | -0.96 | 95.27 | -175.59 | 5.27 | 132.06 | 22.56 | 5.71 | 135.55 | 1036.07 | 0.83 | 146.37 | 738.46 | 0.68 | 154.4 | 1460.0 | 0.11 | 37.5 | -31.25 | 9.34 | 189.12 | 36.55 | 27.87 | -10.53 | -38.01 | -15.79 | -112.95 | -152.63 | 121.05 | 596.32 | 72.93 | 17.82 | -30.9 | 23.32 |
| 23Q1 (17) | 7.20 | -49.47 | -30.37 | -20.29 | -129.78 | -130.83 | -16.44 | -163.88 | -140.0 | -16.06 | -201.31 | -115.86 | -1.79 | -94.57 | -54.31 | -1.25 | -123.21 | -58.23 | 0.08 | -27.27 | -27.27 | -10.48 | -844.14 | -200.29 | 31.15 | -32.94 | -18.54 | 121.95 | -16.16 | -2.44 | -24.39 | 40.38 | 16.38 | 25.79 | 44.4 | 36.53 |
| 22Q4 (16) | 14.25 | -18.85 | -3.39 | -8.83 | -648.45 | -54.1 | -6.23 | -129.4 | -9.49 | -5.33 | -126.19 | 8.89 | -0.92 | -116.94 | 18.58 | -0.56 | -115.38 | 27.27 | 0.11 | -38.89 | -21.43 | -1.11 | -104.74 | 63.0 | 46.45 | -19.27 | 9.97 | 145.45 | 1790.91 | 45.45 | -40.91 | -144.32 | 0 | 17.86 | 17.04 | 4.14 |
| 22Q3 (15) | 17.56 | 12.71 | -1.84 | 1.61 | 26.77 | 146.26 | 21.19 | 392.79 | 31.21 | 20.35 | 3436.07 | 27.91 | 5.43 | 4276.92 | 90.53 | 3.64 | 7380.0 | 71.7 | 0.18 | 12.5 | 38.46 | 23.41 | 242.25 | 24.46 | 57.54 | 27.98 | 47.31 | 7.69 | -74.36 | 135.71 | 92.31 | 31.87 | -24.05 | 15.26 | 5.61 | -17.56 |
| 22Q2 (14) | 15.58 | 50.68 | -12.62 | 1.27 | 114.45 | -34.54 | 4.30 | 162.77 | 192.52 | -0.61 | 91.8 | -143.57 | -0.13 | 88.79 | -139.39 | -0.05 | 93.67 | -119.23 | 0.16 | 45.45 | -5.88 | 6.84 | 295.99 | 93.77 | 44.96 | 17.57 | 31.19 | 30.00 | -76.0 | -76.67 | 70.00 | 340.0 | 345.0 | 14.45 | -23.5 | 2.99 |
| 22Q1 (13) | 10.34 | -29.9 | -39.67 | -8.79 | -53.4 | -797.62 | -6.85 | -20.39 | -458.64 | -7.44 | -27.18 | -647.06 | -1.16 | -2.65 | -441.18 | -0.79 | -2.6 | -403.85 | 0.11 | -21.43 | -38.89 | -3.49 | -16.33 | -183.29 | 38.24 | -9.47 | -0.1 | 125.00 | 25.0 | 87.5 | -29.17 | 0 | -187.5 | 18.89 | 10.15 | 26.86 |
| 21Q4 (12) | 14.75 | -17.55 | -28.22 | -5.73 | -64.66 | -287.16 | -5.69 | -135.23 | -4841.67 | -5.85 | -136.77 | -19400.0 | -1.13 | -139.65 | -11200.0 | -0.77 | -136.32 | -7800.0 | 0.14 | 7.69 | -12.5 | -3.00 | -115.95 | -200.33 | 42.24 | 8.14 | 6.21 | 100.00 | 564.29 | 0 | -0.00 | -100.0 | 0 | 17.15 | -7.35 | -5.72 |
| 21Q3 (11) | 17.89 | 0.34 | 10.84 | -3.48 | -279.38 | -96.61 | 16.15 | 998.64 | 20.97 | 15.91 | 1036.43 | 19.71 | 2.85 | 763.64 | -17.39 | 2.12 | 715.38 | -13.47 | 0.13 | -23.53 | -27.78 | 18.81 | 432.86 | 16.47 | 39.06 | 13.98 | -7.0 | -21.54 | -116.75 | -72.31 | 121.54 | 525.38 | 6.35 | 18.51 | 31.93 | 23.07 |
| 21Q2 (10) | 17.83 | 4.03 | -16.05 | 1.94 | 53.97 | 127.21 | 1.47 | -23.04 | 196.08 | 1.40 | 2.94 | 201.45 | 0.33 | -2.94 | 237.5 | 0.26 | 0.0 | 300.0 | 0.17 | -5.56 | 41.67 | 3.53 | -15.75 | 19.66 | 34.27 | -10.48 | -17.6 | 128.57 | 92.86 | -72.93 | -28.57 | -185.71 | 92.38 | 14.03 | -5.78 | 0 |
| 21Q1 (9) | 17.14 | -16.59 | 12.17 | 1.26 | 185.14 | 105.84 | 1.91 | 1491.67 | 108.71 | 1.36 | 4633.33 | 105.76 | 0.34 | 3500.0 | 111.07 | 0.26 | 2500.0 | 111.98 | 0.18 | 12.5 | 100.0 | 4.19 | 40.13 | 125.26 | 38.28 | -3.75 | -17.89 | 66.67 | 0 | -31.91 | 33.33 | 0 | 1500.0 | 14.89 | -18.14 | 0 |
| 20Q4 (8) | 20.55 | 27.32 | 17.97 | -1.48 | 16.38 | 56.08 | 0.12 | -99.1 | 102.46 | -0.03 | -100.23 | 99.35 | -0.01 | -100.29 | 99.15 | 0.01 | -99.59 | 101.19 | 0.16 | -11.11 | -11.11 | 2.99 | -81.49 | 234.68 | 39.77 | -5.31 | 8.87 | 0.00 | 100.0 | -100.0 | 0.00 | -100.0 | -100.0 | 18.19 | 20.94 | 0 |
| 20Q3 (7) | 16.14 | -24.01 | -22.48 | -1.77 | 75.18 | -176.29 | 13.35 | 972.55 | -9.0 | 13.29 | 1063.04 | -6.41 | 3.45 | 1537.5 | -12.44 | 2.45 | 1984.62 | -11.87 | 0.18 | 50.0 | -10.0 | 16.15 | 447.46 | -6.16 | 42.00 | 0.99 | 3.96 | -12.50 | -102.63 | -181.82 | 114.29 | 130.48 | 37.14 | 15.04 | 0 | -10.05 |
| 20Q2 (6) | 21.24 | 39.01 | -5.85 | -7.13 | 66.93 | -347.57 | -1.53 | 93.02 | -144.87 | -1.38 | 94.16 | -152.08 | -0.24 | 92.18 | -136.92 | -0.13 | 94.01 | -127.66 | 0.12 | 33.33 | -29.41 | 2.95 | 117.78 | -52.03 | 41.59 | -10.79 | -4.08 | 475.00 | 385.11 | 448.08 | -375.00 | -18100.0 | -2912.5 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 15.28 | -12.28 | -20.46 | -21.56 | -539.76 | -1028.8 | -21.92 | -349.18 | -783.87 | -23.63 | -409.27 | -785.02 | -3.07 | -162.39 | -420.34 | -2.17 | -158.33 | -429.27 | 0.09 | -50.0 | -43.75 | -16.59 | -647.3 | -2282.89 | 46.62 | 27.62 | 21.66 | 97.92 | 43.61 | 22.4 | 2.08 | -93.45 | -89.58 | 0.00 | 0 | -100.0 |
| 19Q4 (4) | 17.42 | -16.33 | 0.0 | -3.37 | -245.26 | 0.0 | -4.88 | -133.27 | 0.0 | -4.64 | -132.68 | 0.0 | -1.17 | -129.7 | 0.0 | -0.84 | -130.22 | 0.0 | 0.18 | -10.0 | 0.0 | -2.22 | -112.9 | 0.0 | 36.53 | -9.58 | 0.0 | 68.18 | 346.28 | 0.0 | 31.82 | -61.82 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 20.82 | -7.71 | 0.0 | 2.32 | -19.44 | 0.0 | 14.67 | 330.21 | 0.0 | 14.20 | 435.85 | 0.0 | 3.94 | 506.15 | 0.0 | 2.78 | 491.49 | 0.0 | 0.20 | 17.65 | 0.0 | 17.21 | 179.84 | 0.0 | 40.40 | -6.83 | 0.0 | 15.28 | -82.37 | 0.0 | 83.33 | 525.0 | 0.0 | 16.72 | 1.89 | 0.0 |
| 19Q2 (2) | 22.56 | 17.44 | 0.0 | 2.88 | 250.79 | 0.0 | 3.41 | 237.5 | 0.0 | 2.65 | 199.25 | 0.0 | 0.65 | 210.17 | 0.0 | 0.47 | 214.63 | 0.0 | 0.17 | 6.25 | 0.0 | 6.15 | 709.21 | 0.0 | 43.36 | 13.15 | 0.0 | 86.67 | 8.33 | 0.0 | 13.33 | -33.33 | 0.0 | 16.41 | -15.15 | 0.0 |
| 19Q1 (1) | 19.21 | 0.0 | 0.0 | -1.91 | 0.0 | 0.0 | -2.48 | 0.0 | 0.0 | -2.67 | 0.0 | 0.0 | -0.59 | 0.0 | 0.0 | -0.41 | 0.0 | 0.0 | 0.16 | 0.0 | 0.0 | 0.76 | 0.0 | 0.0 | 38.32 | 0.0 | 0.0 | 80.00 | 0.0 | 0.0 | 20.00 | 0.0 | 0.0 | 19.34 | 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) | 15.44 | 3.69 | -7.81 | 0 | 4.09 | 60.3 | 0.58 | -88.99 | 0.59 | -84.22 | 0.31 | -89.63 | 0.39 | -82.67 | 0.39 | -30.36 | 5.43 | -35.05 | 24.58 | -47.08 | -1328.57 | 0 | 1428.57 | 842.03 | 0.22 | 12.7 | 20.97 | 28.57 |
| 2022 (9) | 14.89 | -11.95 | -2.75 | 0 | 2.55 | 29.22 | 5.27 | 65.72 | 3.74 | 27.65 | 2.99 | 13.26 | 2.25 | 13.64 | 0.56 | -12.5 | 8.36 | 49.55 | 46.45 | 9.97 | -51.65 | 0 | 151.65 | 6.15 | 0.20 | 3.98 | 16.31 | 1.68 |
| 2021 (8) | 16.91 | -7.8 | -1.35 | 0 | 1.98 | -33.53 | 3.18 | 736.84 | 2.93 | 4783.33 | 2.64 | 5180.0 | 1.98 | 1880.0 | 0.64 | 20.75 | 5.59 | 40.1 | 42.24 | 6.21 | -42.86 | 0 | 142.86 | -91.5 | 0.19 | 12.77 | 16.04 | -20.44 |
| 2020 (7) | 18.34 | -8.44 | -6.19 | 0 | 2.97 | 22.39 | 0.38 | -87.74 | 0.06 | -97.86 | 0.05 | -98.21 | 0.10 | -95.02 | 0.53 | -25.35 | 3.99 | -32.14 | 39.77 | 8.87 | -1580.00 | 0 | 1680.00 | 1611.11 | 0.17 | -48.13 | 20.16 | 18.24 |
| 2019 (6) | 20.03 | -13.06 | 0.07 | -98.69 | 2.43 | 304.02 | 3.10 | -65.52 | 2.80 | -62.26 | 2.79 | -67.86 | 2.01 | -66.61 | 0.71 | -12.35 | 5.88 | -40.3 | 36.53 | -16.84 | 1.82 | -96.96 | 98.18 | 141.1 | 0.32 | 16.46 | 17.05 | 11.58 |
| 2018 (5) | 23.04 | -11.15 | 5.35 | -18.82 | 0.60 | 17.95 | 8.99 | -9.92 | 7.42 | -20.9 | 8.68 | -25.04 | 6.02 | -23.51 | 0.81 | -3.57 | 9.85 | -7.6 | 43.93 | -1.26 | 59.79 | -9.34 | 40.72 | 19.62 | 0.28 | 0 | 15.28 | -8.01 |
| 2017 (4) | 25.93 | -4.95 | 6.59 | -4.35 | 0.51 | -4.87 | 9.98 | 10.89 | 9.38 | 27.1 | 11.58 | 20.63 | 7.87 | 25.92 | 0.84 | -1.18 | 10.66 | 9.56 | 44.49 | -10.93 | 65.96 | -13.9 | 34.04 | 45.52 | 0.00 | 0 | 16.61 | -3.82 |
| 2016 (3) | 27.28 | 10.45 | 6.89 | 40.9 | 0.54 | 12.84 | 9.00 | 8.3 | 7.38 | 2.5 | 9.60 | 0.52 | 6.25 | -1.57 | 0.85 | -3.41 | 9.73 | 7.4 | 49.95 | -12.75 | 76.61 | 29.74 | 23.39 | -42.87 | 0.00 | 0 | 17.27 | -0.12 |
| 2015 (2) | 24.70 | 4.31 | 4.89 | 27.68 | 0.47 | 1.15 | 8.31 | 9.49 | 7.20 | 32.6 | 9.55 | 32.64 | 6.35 | 30.66 | 0.88 | -1.12 | 9.06 | 7.73 | 57.25 | 28.88 | 59.05 | 16.89 | 40.95 | -17.24 | 0.00 | 0 | 17.29 | 2.43 |
| 2014 (1) | 23.68 | 0 | 3.83 | 0 | 0.47 | -3.29 | 7.59 | 0 | 5.43 | 0 | 7.20 | 0 | 4.86 | 0 | 0.89 | -24.58 | 8.41 | 140.29 | 44.42 | -18.38 | 50.52 | 960.82 | 49.48 | -48.04 | 0.00 | 0 | 16.88 | -0.82 |
