- 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) | 19.59 | 47.96 | 6.53 | 9.10 | 28.53 | 175.96 | 13.69 | 49.29 | 852.2 | 11.10 | 45.86 | 281.37 | 4.55 | 6.06 | 858.33 | 2.15 | 9.69 | 1231.58 | 0.19 | -24.0 | 280.0 | 15.05 | 45.41 | 196.26 | 115.02 | -8.15 | -6.79 | 67.09 | -13.03 | -90.42 | 34.18 | 49.53 | 105.7 | 7.13 | 36.85 | -63.47 |
| 23Q3 (19) | 13.24 | -17.97 | -48.46 | 7.08 | -13.87 | 118.7 | 9.17 | -38.33 | -78.69 | 7.61 | -40.92 | -77.94 | 4.29 | -14.71 | 308.57 | 1.96 | -15.88 | 226.67 | 0.25 | 47.06 | 1150.0 | 10.35 | -37.54 | -83.61 | 125.23 | -5.59 | 20.86 | 77.14 | 39.59 | 188.16 | 22.86 | -48.91 | -88.2 | 5.21 | -9.71 | -88.77 |
| 23Q2 (18) | 16.14 | -21.5 | -56.2 | 8.22 | -16.8 | 111.93 | 14.87 | 607.51 | 106.67 | 12.88 | 548.78 | 107.18 | 5.03 | 728.75 | 261.22 | 2.33 | 996.15 | 251.3 | 0.17 | 30.77 | 1600.0 | 16.57 | 3007.02 | 108.84 | 132.64 | 14.13 | 29.8 | 55.26 | 116.25 | 83.06 | 44.74 | -90.06 | -34.14 | 5.77 | -28.68 | -92.46 |
| 23Q1 (17) | 20.56 | 11.8 | -53.43 | 9.88 | 182.47 | 115.32 | -2.93 | -60.99 | -108.59 | -2.87 | 53.1 | -113.44 | -0.80 | -33.33 | -335.29 | -0.26 | -36.84 | -213.04 | 0.13 | 160.0 | 1200.0 | -0.57 | -111.22 | -100.84 | 116.22 | -5.82 | 35.41 | -340.00 | -148.57 | -94.29 | 450.00 | 175.0 | 63.64 | 8.09 | -58.56 | -88.75 |
| 22Q4 (16) | 18.39 | -28.42 | -55.21 | -11.98 | 68.37 | 81.18 | -1.82 | -104.23 | -105.36 | -6.12 | -117.74 | -118.96 | -0.60 | -157.14 | -177.92 | -0.19 | -131.67 | -142.22 | 0.05 | 150.0 | 400.0 | 5.08 | -91.96 | -90.97 | 123.40 | 19.09 | 43.16 | 700.00 | 900.0 | 485.0 | -600.00 | -409.68 | -312.9 | 19.52 | -57.92 | -73.8 |
| 22Q3 (15) | 25.69 | -30.28 | 41.86 | -37.87 | 45.05 | -99.32 | 43.03 | 119.29 | 167.6 | 34.50 | 119.22 | 114.82 | 1.05 | 133.65 | 17.98 | 0.60 | 138.96 | 17.65 | 0.02 | 100.0 | -33.33 | 63.16 | 133.69 | 136.02 | 103.62 | 1.4 | 10.74 | -87.50 | -389.84 | 25.96 | 193.75 | 185.24 | -14.75 | 46.39 | -39.4 | 59.47 |
| 22Q2 (14) | 36.85 | -16.53 | 20.31 | -68.92 | -6.89 | 11.47 | -223.04 | -753.69 | -4200.0 | -179.49 | -940.7 | -3436.25 | -3.12 | -1017.65 | -3220.0 | -1.54 | -769.57 | -1500.0 | 0.01 | 0.0 | 0.0 | -187.50 | -375.01 | -579.17 | 102.19 | 19.06 | 12.43 | 30.19 | 117.25 | 101.68 | 67.92 | -75.3 | -96.43 | 76.55 | 6.47 | 5.15 |
| 22Q1 (13) | 44.15 | 7.53 | -0.5 | -64.48 | -1.27 | -8.37 | 34.12 | 0.44 | -86.07 | 21.35 | -33.86 | -91.2 | 0.34 | -55.84 | -93.35 | 0.23 | -48.89 | -91.12 | 0.01 | 0.0 | 0.0 | 68.18 | 21.21 | -75.3 | 85.83 | -0.43 | -9.49 | -175.00 | 3.75 | -611.67 | 275.00 | -2.42 | 120.72 | 71.90 | -3.48 | 4.2 |
| 21Q4 (12) | 41.06 | 126.73 | -5.37 | -63.67 | -235.11 | -13.6 | 33.97 | 111.26 | 256.83 | 32.28 | 101.0 | 2439.13 | 0.77 | -13.48 | 1640.0 | 0.45 | -11.76 | 800.0 | 0.01 | -66.67 | -50.0 | 56.25 | 110.2 | 87.5 | 86.20 | -7.88 | -20.22 | -181.82 | -53.85 | 66.94 | 281.82 | 24.0 | -56.64 | 74.49 | 156.07 | 2.83 |
| 21Q3 (11) | 18.11 | -40.87 | -59.78 | -19.00 | 75.59 | 44.33 | 16.08 | 195.59 | -28.41 | 16.06 | 198.51 | -50.29 | 0.89 | 790.0 | -39.46 | 0.51 | 363.64 | -37.8 | 0.03 | 200.0 | 50.0 | 26.76 | -31.61 | -31.0 | 93.57 | 2.95 | -5.99 | -118.18 | 93.43 | 23.53 | 227.27 | -88.04 | -10.71 | 29.09 | -60.04 | -51.94 |
| 21Q2 (10) | 30.63 | -30.97 | -40.97 | -77.85 | -30.84 | -42.09 | 5.44 | -97.78 | 131.59 | 5.38 | -97.78 | 129.05 | 0.10 | -98.04 | 116.95 | 0.11 | -95.75 | 142.31 | 0.01 | 0.0 | -50.0 | 39.13 | -85.82 | 565.48 | 90.89 | -4.15 | 2.56 | -1800.00 | -7220.0 | -668.42 | 1900.00 | 1425.0 | 976.92 | 72.80 | 5.51 | -10.33 |
| 21Q1 (9) | 44.37 | 2.26 | 123.64 | -59.50 | -6.16 | -935.67 | 245.01 | 2473.63 | 11567.14 | 242.72 | 17688.41 | 19959.5 | 5.11 | 10320.0 | 1177.5 | 2.59 | 5080.0 | 936.0 | 0.01 | -50.0 | -93.75 | 276.00 | 820.0 | 6215.79 | 94.83 | -12.24 | -5.96 | -24.59 | 95.53 | -107.57 | 124.59 | -80.83 | 155.37 | 69.00 | -4.75 | 624.79 |
| 20Q4 (8) | 43.39 | -3.64 | 184.71 | -56.05 | -64.23 | -1115.4 | 9.52 | -57.61 | 41.88 | -1.38 | -104.27 | -128.05 | -0.05 | -103.4 | -101.96 | 0.05 | -93.9 | -95.9 | 0.02 | 0.0 | -91.3 | 30.00 | -22.64 | 261.88 | 108.05 | 8.56 | -6.88 | -550.00 | -255.88 | -766.67 | 650.00 | 155.36 | 3614.29 | 72.44 | 19.68 | 0 |
| 20Q3 (7) | 45.03 | -13.22 | 281.61 | -34.13 | 37.71 | -681.43 | 22.46 | 230.43 | 143.87 | 32.31 | 274.46 | 307.95 | 1.47 | 349.15 | -78.7 | 0.82 | 415.38 | -72.2 | 0.02 | 0.0 | -94.59 | 38.78 | 559.52 | 285.49 | 99.53 | 12.31 | -21.41 | -154.55 | -148.8 | -342.86 | 254.55 | 217.48 | 600.0 | 60.53 | -25.45 | 1135.31 |
| 20Q2 (6) | 51.89 | 161.54 | 268.54 | -54.79 | -869.52 | -871.69 | -17.22 | -920.0 | -297.03 | -18.52 | -1630.58 | -356.87 | -0.59 | -247.5 | -109.78 | -0.26 | -204.0 | -110.2 | 0.02 | -87.5 | -94.29 | 5.88 | 34.55 | -38.24 | 88.62 | -12.12 | -40.88 | 316.67 | -2.56 | 290.89 | -216.67 | 3.7 | -1241.11 | 81.19 | 752.84 | 1347.24 |
| 20Q1 (5) | 19.84 | 30.18 | 16.64 | 7.12 | 28.99 | 10.9 | 2.10 | -68.7 | -70.87 | 1.21 | -75.41 | -79.46 | 0.40 | -84.31 | -85.92 | 0.25 | -79.51 | -82.64 | 0.16 | -30.43 | -33.33 | 4.37 | -47.29 | -48.83 | 100.84 | -13.09 | -22.44 | 325.00 | 293.94 | 263.24 | -225.00 | -1385.71 | -2237.5 | 9.52 | 0 | 21.58 |
| 19Q4 (4) | 15.24 | 29.15 | 0.0 | 5.52 | -5.96 | 0.0 | 6.71 | -27.14 | 0.0 | 4.92 | -37.88 | 0.0 | 2.55 | -63.04 | 0.0 | 1.22 | -58.64 | 0.0 | 0.23 | -37.84 | 0.0 | 8.29 | -17.59 | 0.0 | 116.03 | -8.39 | 0.0 | 82.50 | 29.64 | 0.0 | 17.50 | -51.88 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 11.80 | -16.19 | 0.0 | 5.87 | -17.32 | 0.0 | 9.21 | 5.38 | 0.0 | 7.92 | 9.85 | 0.0 | 6.90 | 14.43 | 0.0 | 2.95 | 15.69 | 0.0 | 0.37 | 5.71 | 0.0 | 10.06 | 5.67 | 0.0 | 126.65 | -15.52 | 0.0 | 63.64 | -21.45 | 0.0 | 36.36 | 91.52 | 0.0 | 4.90 | -12.66 | 0.0 |
| 19Q2 (2) | 14.08 | -17.23 | 0.0 | 7.10 | 10.59 | 0.0 | 8.74 | 21.22 | 0.0 | 7.21 | 22.41 | 0.0 | 6.03 | 112.32 | 0.0 | 2.55 | 77.08 | 0.0 | 0.35 | 45.83 | 0.0 | 9.52 | 11.48 | 0.0 | 149.91 | 15.3 | 0.0 | 81.01 | -9.46 | 0.0 | 18.99 | 80.38 | 0.0 | 5.61 | -28.35 | 0.0 |
| 19Q1 (1) | 17.01 | 0.0 | 0.0 | 6.42 | 0.0 | 0.0 | 7.21 | 0.0 | 0.0 | 5.89 | 0.0 | 0.0 | 2.84 | 0.0 | 0.0 | 1.44 | 0.0 | 0.0 | 0.24 | 0.0 | 0.0 | 8.54 | 0.0 | 0.0 | 130.02 | 0.0 | 0.0 | 89.47 | 0.0 | 0.0 | 10.53 | 0.0 | 0.0 | 7.83 | 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) | 16.74 | -32.42 | 8.32 | 0 | 0.91 | -91.62 | 9.77 | 0 | 8.09 | 0 | 13.31 | 0 | 6.45 | 0 | 0.75 | 837.5 | 11.26 | 2197.96 | 115.02 | -6.79 | 85.12 | -55.28 | 14.88 | 0 | 0.29 | -14.03 | 6.30 | -82.99 |
| 2022 (9) | 24.77 | -15.2 | -29.30 | 0 | 10.84 | -29.32 | -15.18 | 0 | -15.64 | 0 | -2.43 | 0 | -0.91 | 0 | 0.08 | 33.33 | 0.49 | -99.36 | 123.40 | 43.16 | 190.32 | 0 | -93.55 | 0 | 0.33 | -4.02 | 37.03 | -28.65 |
| 2021 (8) | 29.21 | 10.02 | -44.05 | 0 | 15.33 | 200.53 | 56.36 | 1557.65 | 55.61 | 1922.18 | 6.62 | 461.02 | 3.57 | 363.64 | 0.06 | -70.0 | 76.00 | 675.51 | 86.20 | -20.22 | -77.65 | 0 | 177.65 | -38.37 | 0.35 | -10.08 | 51.90 | 109.11 |
| 2020 (7) | 26.55 | 88.3 | -6.52 | 0 | 5.10 | 483.79 | 3.40 | -58.64 | 2.75 | -59.26 | 1.18 | -93.39 | 0.77 | -91.68 | 0.20 | -85.07 | 9.80 | 5.26 | 108.05 | -6.88 | -188.24 | 0 | 288.24 | 1112.58 | 0.38 | -68.97 | 24.82 | 311.61 |
| 2019 (6) | 14.10 | 3.3 | 6.27 | 10.78 | 0.87 | 131.83 | 8.22 | 18.96 | 6.75 | 20.32 | 17.84 | 19.25 | 9.26 | 6.81 | 1.34 | -11.84 | 9.31 | 25.13 | 116.03 | 48.53 | 76.64 | -6.64 | 23.77 | 32.72 | 1.24 | -24.48 | 6.03 | -1.31 |
| 2018 (5) | 13.65 | -5.67 | 5.66 | -1.05 | 0.38 | 3.33 | 6.91 | -2.95 | 5.61 | -5.56 | 14.96 | -3.86 | 8.67 | -7.27 | 1.52 | -1.94 | 7.44 | -2.36 | 78.12 | 5.5 | 82.09 | 1.96 | 17.91 | -8.09 | 1.64 | 0 | 6.11 | -8.12 |
| 2017 (4) | 14.47 | 0.14 | 5.72 | 2.14 | 0.36 | -42.42 | 7.12 | -0.56 | 5.94 | 1.54 | 15.56 | -1.64 | 9.35 | -9.22 | 1.55 | -9.36 | 7.62 | -2.06 | 74.05 | 16.69 | 80.51 | 2.79 | 19.49 | -10.09 | 0.00 | 0 | 6.65 | 0.15 |
| 2016 (3) | 14.45 | -1.37 | 5.60 | -3.28 | 0.63 | -20.3 | 7.16 | -8.44 | 5.85 | -11.9 | 15.82 | -8.77 | 10.30 | -13.88 | 1.71 | -5.0 | 7.78 | -9.64 | 63.46 | 40.37 | 78.33 | 5.63 | 21.67 | -16.14 | 0.00 | 0 | 6.64 | -1.34 |
| 2015 (2) | 14.65 | 9.49 | 5.79 | 34.65 | 0.79 | -19.35 | 7.82 | 43.22 | 6.64 | 50.57 | 17.34 | 60.26 | 11.96 | 58.41 | 1.80 | 5.88 | 8.61 | 32.67 | 45.21 | 0.13 | 74.15 | -6.0 | 25.85 | 22.4 | 0.00 | 0 | 6.73 | -2.75 |
| 2014 (1) | 13.38 | 0 | 4.30 | 0 | 0.99 | -2.6 | 5.46 | 0 | 4.41 | 0 | 10.82 | 0 | 7.55 | 0 | 1.70 | -3.41 | 6.49 | -22.83 | 45.15 | 2.27 | 78.88 | 3.26 | 21.12 | -10.54 | 0.00 | 0 | 6.92 | 5.17 |
