- 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) | 8.88 | -36.21 | 31.95 | -2.11 | -168.73 | 13.88 | -2.82 | -144.13 | 0.0 | -3.29 | -155.48 | -35.39 | -1.29 | -147.08 | -30.3 | -0.25 | -118.25 | -56.25 | 0.16 | -11.11 | 0.0 | 6.01 | -56.67 | 3.62 | 149.75 | 4.79 | 5.35 | 75.00 | 55.88 | -14.86 | 25.00 | -51.82 | 75.0 | 27.67 | 17.44 | 16.8 |
| 23Q3 (19) | 13.92 | 54.15 | 36.6 | 3.07 | 307.43 | 958.62 | 6.39 | 11.13 | 67.72 | 5.93 | 16.05 | 83.59 | 2.74 | 29.86 | 59.3 | 1.37 | 24.55 | 61.18 | 0.18 | 12.5 | -10.0 | 13.87 | -5.19 | 38.56 | 142.90 | -10.19 | -7.78 | 48.11 | 283.7 | 485.38 | 51.89 | -58.49 | -44.3 | 23.56 | -8.04 | 1.55 |
| 23Q2 (18) | 9.03 | 38.92 | 78.46 | -1.48 | 69.98 | 59.67 | 5.75 | 214.77 | 390.4 | 5.11 | 200.0 | 632.29 | 2.11 | 204.46 | 558.7 | 1.10 | 300.0 | 3766.67 | 0.16 | 0.0 | -11.11 | 14.63 | 282.98 | 210.62 | 159.12 | 0.18 | -5.81 | -26.19 | -126.56 | -114.13 | 125.00 | 8775.0 | 246.55 | 25.62 | -8.6 | 2.11 |
| 23Q1 (17) | 6.50 | -3.42 | -6.88 | -4.93 | -101.22 | -83.96 | -5.01 | -77.66 | -346.8 | -5.11 | -110.29 | -459.86 | -2.02 | -104.04 | -388.57 | -0.55 | -243.75 | -248.65 | 0.16 | 0.0 | -15.79 | 3.82 | -34.14 | -53.07 | 158.83 | 11.73 | 1.54 | 98.59 | 11.91 | 176.0 | 1.41 | -90.14 | -99.39 | 28.03 | 18.32 | 11.32 |
| 22Q4 (16) | 6.73 | -33.95 | -24.64 | -2.45 | -944.83 | -1631.25 | -2.82 | -174.02 | -358.72 | -2.43 | -175.23 | -214.62 | -0.99 | -157.56 | -174.44 | -0.16 | -118.82 | -126.23 | 0.16 | -20.0 | -33.33 | 5.80 | -42.06 | -10.91 | 142.15 | -8.26 | -11.73 | 88.10 | 971.83 | 428.57 | 14.29 | -84.66 | -83.67 | 23.69 | 2.11 | 12.06 |
| 22Q3 (15) | 10.19 | 101.38 | -34.43 | 0.29 | 107.9 | -95.76 | 3.81 | 292.42 | 10.76 | 3.23 | 436.46 | 50.93 | 1.72 | 473.91 | 19.44 | 0.85 | 2933.33 | 32.81 | 0.20 | 11.11 | -20.0 | 10.01 | 112.53 | 22.07 | 154.95 | -8.28 | -8.16 | 8.22 | -95.56 | -95.84 | 93.15 | 209.21 | 195.48 | 23.20 | -7.53 | 1.89 |
| 22Q2 (14) | 5.06 | -27.51 | -71.02 | -3.67 | -36.94 | -141.7 | -1.98 | -197.54 | -128.86 | -0.96 | -167.61 | -120.25 | -0.46 | -165.71 | -114.65 | -0.03 | -108.11 | -102.36 | 0.18 | -5.26 | -25.0 | 4.71 | -42.14 | -61.58 | 168.93 | 8.0 | -2.52 | 185.29 | 242.83 | 44.42 | -85.29 | -137.13 | -201.37 | 25.09 | -0.36 | 5.6 |
| 22Q1 (13) | 6.98 | -21.84 | -47.75 | -2.68 | -1775.0 | -155.26 | 2.03 | 86.24 | -23.11 | 1.42 | -33.02 | -5.33 | 0.70 | -47.37 | -26.32 | 0.37 | -39.34 | -22.92 | 0.19 | -20.83 | -17.39 | 8.14 | 25.04 | -5.9 | 156.42 | -2.87 | -10.15 | -129.73 | -878.38 | -170.32 | 229.73 | 162.55 | 371.92 | 25.18 | 19.11 | 2.78 |
| 21Q4 (12) | 8.93 | -42.54 | -5.6 | 0.16 | -97.66 | -84.31 | 1.09 | -68.31 | 130.45 | 2.12 | -0.93 | 207.07 | 1.33 | -7.64 | 206.4 | 0.61 | -4.69 | 303.33 | 0.24 | -4.0 | 9.09 | 6.51 | -20.61 | 106.67 | 161.04 | -4.55 | -11.13 | 16.67 | -91.56 | 159.09 | 87.50 | 189.69 | -32.43 | 21.14 | -7.16 | -9.39 |
| 21Q3 (11) | 15.54 | -11.0 | 9.98 | 6.84 | -22.27 | 34.12 | 3.44 | -49.85 | 216.61 | 2.14 | -54.85 | 176.16 | 1.44 | -54.14 | 180.45 | 0.64 | -49.61 | 236.17 | 0.25 | 4.17 | 13.64 | 8.20 | -33.12 | 147.73 | 168.71 | -2.65 | -9.98 | 197.56 | 53.98 | 214.66 | -97.56 | -244.72 | -135.83 | 22.77 | -4.17 | 1.65 |
| 21Q2 (10) | 17.46 | 30.69 | 17.73 | 8.80 | 81.44 | 44.5 | 6.86 | 159.85 | -18.72 | 4.74 | 216.0 | -31.0 | 3.14 | 230.53 | -25.06 | 1.27 | 164.58 | -23.95 | 0.24 | 4.35 | 9.09 | 12.26 | 41.73 | -18.05 | 173.30 | -0.45 | -9.05 | 128.30 | -30.45 | 77.87 | -28.30 | 66.5 | -201.55 | 23.76 | -3.02 | 0 |
| 21Q1 (9) | 13.36 | 41.23 | 59.43 | 4.85 | 375.49 | 347.45 | 2.64 | 173.74 | 137.82 | 1.50 | 175.76 | 120.55 | 0.95 | 176.0 | 127.7 | 0.48 | 260.0 | 143.24 | 0.23 | 4.55 | 27.78 | 8.65 | 174.6 | 500.69 | 174.09 | -3.93 | 2.85 | 184.48 | 754.08 | 556.54 | -84.48 | -165.24 | -217.5 | 24.50 | 5.02 | -9.76 |
| 20Q4 (8) | 9.46 | -33.05 | -35.99 | 1.02 | -80.0 | -82.62 | -3.58 | -21.36 | -1591.67 | -1.98 | 29.54 | -409.38 | -1.25 | 30.17 | -467.65 | -0.30 | 36.17 | -190.91 | 0.22 | 0.0 | 4.76 | 3.15 | -4.83 | -54.81 | 181.21 | -3.31 | 17.38 | -28.21 | 83.63 | -101.19 | 129.49 | -52.45 | 105.68 | 23.33 | 4.15 | -4.19 |
| 20Q3 (7) | 14.13 | -4.72 | 2.91 | 5.10 | -16.26 | 12.58 | -2.95 | -134.95 | -142.45 | -2.81 | -140.9 | -157.35 | -1.79 | -142.72 | -166.54 | -0.47 | -128.14 | -137.9 | 0.22 | 0.0 | 4.76 | 3.31 | -77.87 | -76.97 | 187.41 | -1.65 | 22.06 | -172.31 | -338.88 | -363.0 | 272.31 | 877.1 | 674.21 | 22.40 | 0 | -5.76 |
| 20Q2 (6) | 14.83 | 76.97 | 0.14 | 6.09 | 410.71 | 47.82 | 8.44 | 220.92 | -28.23 | 6.87 | 194.11 | -21.66 | 4.19 | 222.16 | -2.56 | 1.67 | 250.45 | -6.18 | 0.22 | 22.22 | 22.22 | 14.96 | 938.89 | -23.05 | 190.55 | 12.58 | 9.06 | 72.13 | 156.7 | 105.57 | 27.87 | -61.24 | -57.07 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 8.38 | -43.3 | -40.06 | -1.96 | -133.39 | -146.23 | -6.98 | -3008.33 | -233.97 | -7.30 | -1240.62 | -296.24 | -3.43 | -1108.82 | -298.27 | -1.11 | -436.36 | -230.59 | 0.18 | -14.29 | 5.88 | 1.44 | -79.34 | -89.24 | 169.26 | 9.64 | -1.73 | 28.10 | -98.82 | -65.5 | 71.90 | 103.15 | 287.47 | 27.15 | 11.5 | 13.74 |
| 19Q4 (4) | 14.78 | 7.65 | 0.0 | 5.87 | 29.58 | 0.0 | 0.24 | -96.55 | 0.0 | 0.64 | -86.94 | 0.0 | 0.34 | -87.36 | 0.0 | 0.33 | -73.39 | 0.0 | 0.21 | 0.0 | 0.0 | 6.97 | -51.5 | 0.0 | 154.38 | 0.55 | 0.0 | 2380.00 | 3532.63 | 0.0 | -2280.00 | -6582.35 | 0.0 | 24.35 | 2.44 | 0.0 |
| 19Q3 (3) | 13.73 | -7.29 | 0.0 | 4.53 | 9.95 | 0.0 | 6.95 | -40.9 | 0.0 | 4.90 | -44.13 | 0.0 | 2.69 | -37.44 | 0.0 | 1.24 | -30.34 | 0.0 | 0.21 | 16.67 | 0.0 | 14.37 | -26.08 | 0.0 | 153.54 | -12.12 | 0.0 | 65.52 | 86.72 | 0.0 | 35.17 | -45.82 | 0.0 | 23.77 | -5.45 | 0.0 |
| 19Q2 (2) | 14.81 | 5.94 | 0.0 | 4.12 | -2.83 | 0.0 | 11.76 | 125.72 | 0.0 | 8.77 | 135.75 | 0.0 | 4.30 | 148.55 | 0.0 | 1.78 | 109.41 | 0.0 | 0.18 | 5.88 | 0.0 | 19.44 | 45.29 | 0.0 | 174.72 | 1.44 | 0.0 | 35.09 | -56.92 | 0.0 | 64.91 | 249.81 | 0.0 | 25.14 | 5.32 | 0.0 |
| 19Q1 (1) | 13.98 | 0.0 | 0.0 | 4.24 | 0.0 | 0.0 | 5.21 | 0.0 | 0.0 | 3.72 | 0.0 | 0.0 | 1.73 | 0.0 | 0.0 | 0.85 | 0.0 | 0.0 | 0.17 | 0.0 | 0.0 | 13.38 | 0.0 | 0.0 | 172.24 | 0.0 | 0.0 | 81.44 | 0.0 | 0.0 | 18.56 | 0.0 | 0.0 | 23.87 | 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) | 9.76 | 32.97 | -1.18 | 0 | 6.37 | 13.0 | 1.33 | 171.43 | 0.91 | 82.0 | 1.51 | 55.67 | 1.72 | 57.8 | 0.67 | -12.99 | 9.80 | 34.25 | 149.75 | 5.35 | -88.61 | 0 | 188.61 | -63.56 | 0.11 | -1.58 | 26.10 | 7.45 |
| 2022 (9) | 7.34 | -47.16 | -2.05 | 0 | 5.64 | 19.33 | 0.49 | -86.2 | 0.50 | -81.06 | 0.97 | -85.82 | 1.09 | -63.79 | 0.77 | -19.79 | 7.30 | -18.25 | 142.15 | -11.73 | -420.59 | 0 | 517.65 | 0 | 0.11 | 6.5 | 24.29 | 5.38 |
| 2021 (8) | 13.89 | 16.92 | 5.23 | 86.12 | 4.72 | -20.08 | 3.55 | 0 | 2.64 | 0 | 6.84 | 0 | 3.01 | 0 | 0.96 | 11.63 | 8.93 | 50.84 | 161.04 | -11.13 | 147.37 | 0 | -47.37 | 0 | 0.11 | -5.22 | 23.05 | -2.54 |
| 2020 (7) | 11.88 | -17.04 | 2.81 | -40.21 | 5.91 | -2.32 | -0.98 | 0 | -1.00 | 0 | -2.30 | 0 | -0.19 | 0 | 0.86 | 13.16 | 5.92 | -56.12 | 181.21 | 17.38 | -284.15 | 0 | 384.15 | 1671.55 | 0.11 | 35.75 | 23.65 | -2.59 |
| 2019 (6) | 14.32 | -6.59 | 4.70 | -21.14 | 6.05 | 4.95 | 6.00 | -35.21 | 4.48 | -27.97 | 9.19 | -37.23 | 4.28 | -27.95 | 0.76 | -7.32 | 13.49 | -17.59 | 154.38 | -16.24 | 78.32 | 21.66 | 21.68 | -39.14 | 0.08 | -87.02 | 24.28 | 7.72 |
| 2018 (5) | 15.33 | 7.05 | 5.96 | 24.69 | 5.77 | -6.06 | 9.26 | 100.0 | 6.22 | 98.72 | 14.64 | 99.46 | 5.94 | 78.92 | 0.82 | 0.0 | 16.37 | 36.99 | 184.32 | -4.53 | 64.37 | -37.63 | 35.63 | 0 | 0.64 | -1.99 | 22.54 | 3.25 |
| 2017 (4) | 14.32 | -14.76 | 4.78 | -33.52 | 6.14 | -11.91 | 4.63 | -41.39 | 3.13 | -46.77 | 7.34 | -46.73 | 3.32 | -40.93 | 0.82 | -1.2 | 11.95 | -25.41 | 193.07 | 6.66 | 103.22 | 13.42 | -3.22 | 0 | 0.66 | 0 | 21.83 | 1.02 |
| 2016 (3) | 16.80 | 41.77 | 7.19 | 179.77 | 6.97 | -7.09 | 7.90 | 1262.07 | 5.88 | 2252.0 | 13.78 | 2451.85 | 5.62 | 577.11 | 0.83 | 10.67 | 16.02 | 73.94 | 181.02 | -0.24 | 91.00 | -79.63 | 9.00 | 0 | 0.00 | 0 | 21.61 | -5.43 |
| 2015 (2) | 11.85 | -11.04 | 2.57 | -46.12 | 7.50 | 9.23 | 0.58 | -87.34 | 0.25 | -93.22 | 0.54 | -94.23 | 0.83 | -77.57 | 0.75 | -8.54 | 9.21 | -26.14 | 181.45 | -5.79 | 446.67 | 328.88 | -344.44 | 0 | 0.00 | 0 | 22.85 | 38.91 |
| 2014 (1) | 13.32 | 0 | 4.77 | 0 | 6.86 | -1.88 | 4.58 | 0 | 3.69 | 0 | 9.36 | 0 | 3.70 | 0 | 0.82 | 2.5 | 12.47 | 19.79 | 192.61 | -14.88 | 104.15 | 23.13 | -4.15 | 0 | 0.00 | 0 | 16.45 | -18.32 |
