- 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) | 1.93 | -91.77 | -86.33 | -52.17 | 31.73 | -86.39 | -80.90 | -220.33 | -348.2 | -65.68 | -227.21 | -437.92 | -11.04 | -236.63 | -487.23 | -3.80 | -212.09 | -1017.65 | 0.06 | 0.0 | 20.0 | -60.47 | -168.62 | -1646.55 | 177.36 | 11.97 | -12.53 | 64.37 | 156.43 | -58.8 | 35.63 | -83.36 | 163.35 | 34.21 | -22.99 | -0.09 |
| 23Q3 (19) | 23.44 | 4.27 | 77.44 | -76.42 | -112.75 | -36.93 | 67.23 | -29.16 | 496.01 | 51.63 | -26.51 | 43125.0 | 8.08 | -38.65 | 80900.0 | 3.39 | -30.67 | 1068.97 | 0.06 | -14.29 | 50.0 | 88.12 | -22.03 | 122.64 | 158.40 | -6.92 | -28.46 | -114.07 | -202.22 | 77.19 | 214.07 | 55.41 | -64.32 | 44.42 | 11.89 | -23.87 |
| 23Q2 (18) | 22.48 | 83.06 | -2.35 | -35.92 | 25.91 | -440.96 | 94.90 | 363.17 | 1638.09 | 70.25 | 358.75 | 1122.56 | 13.17 | 380.21 | 1206.72 | 4.89 | 494.35 | 3861.54 | 0.07 | 16.67 | 16.67 | 113.02 | 827.28 | 676.24 | 170.17 | -17.9 | -20.28 | -37.75 | -128.11 | -135.05 | 137.75 | 501.76 | 1890.69 | 39.70 | 3.98 | -12.67 |
| 23Q1 (17) | 12.28 | -13.03 | -59.54 | -48.48 | -73.2 | -1030.52 | -36.06 | -99.78 | -2196.51 | -27.15 | -122.36 | -2637.38 | -4.70 | -150.0 | -2143.48 | -1.24 | -264.71 | -444.44 | 0.06 | 20.0 | -14.29 | -15.54 | -497.44 | -184.0 | 207.27 | 2.22 | -1.75 | 134.29 | -14.06 | -58.68 | -34.29 | 39.05 | 84.76 | 38.18 | 11.51 | 17.26 |
| 22Q4 (16) | 14.12 | 6.89 | -57.24 | -27.99 | 49.85 | -586.78 | -18.05 | -260.02 | -2128.4 | -12.21 | -10075.0 | -5187.5 | -1.88 | -18700.0 | -3860.0 | -0.34 | -217.24 | -197.14 | 0.05 | 25.0 | -37.5 | 3.91 | -90.12 | -75.33 | 202.76 | -8.43 | 13.75 | 156.25 | 131.25 | 122.32 | -56.25 | -109.38 | -107.03 | 34.24 | -41.32 | -7.13 |
| 22Q3 (15) | 13.21 | -42.62 | -58.56 | -55.81 | -740.51 | -680.75 | 11.28 | 282.82 | -5.05 | -0.12 | 98.25 | -101.55 | -0.01 | 99.16 | -100.53 | 0.29 | 323.08 | -70.41 | 0.04 | -33.33 | -55.56 | 39.58 | 171.84 | 51.18 | 221.42 | 3.73 | 27.21 | -500.00 | -564.29 | -734.62 | 600.00 | 7900.0 | 3200.0 | 58.35 | 28.35 | 75.38 |
| 22Q2 (14) | 23.02 | -24.15 | -31.39 | -6.64 | -227.45 | -146.18 | -6.17 | -458.72 | -147.39 | -6.87 | -742.06 | -194.63 | -1.19 | -617.39 | -167.61 | -0.13 | -136.11 | -113.27 | 0.06 | -14.29 | -33.33 | 14.56 | -21.3 | -48.07 | 213.45 | 1.18 | 25.05 | 107.69 | -66.86 | -3.35 | -7.69 | 96.58 | 32.69 | 45.46 | 39.62 | 53.43 |
| 22Q1 (13) | 30.35 | -8.09 | 17.45 | 5.21 | -9.39 | -35.92 | 1.72 | 312.35 | -77.81 | 1.07 | 345.83 | -72.06 | 0.23 | 360.0 | -72.62 | 0.36 | 2.86 | -38.98 | 0.07 | -12.5 | -12.5 | 18.50 | 16.72 | -24.12 | 210.96 | 18.35 | 23.13 | 325.00 | 146.43 | 208.75 | -225.00 | -128.12 | -4175.0 | 32.56 | -11.69 | 18.88 |
| 21Q4 (12) | 33.02 | 3.58 | 37.93 | 5.75 | -40.17 | 49.74 | -0.81 | -106.82 | 86.27 | 0.24 | -96.91 | 102.8 | 0.05 | -97.35 | 102.67 | 0.35 | -64.29 | 391.67 | 0.08 | -11.11 | 0.0 | 15.85 | -39.46 | 9.61 | 178.25 | 2.41 | -3.85 | -700.00 | -988.46 | -988.89 | 800.00 | 4300.0 | 366.67 | 36.87 | 10.82 | 33.64 |
| 21Q3 (11) | 31.88 | -4.98 | 12.53 | 9.61 | -33.17 | 245.68 | 11.88 | -8.76 | 252.5 | 7.76 | 6.89 | 133.41 | 1.89 | 7.39 | 142.47 | 0.98 | 0.0 | 203.16 | 0.09 | 0.0 | 28.57 | 26.18 | -6.63 | 64.76 | 174.06 | 1.97 | 1.32 | 78.79 | -29.29 | 323.23 | 18.18 | 259.09 | -86.56 | 33.27 | 12.28 | -1.8 |
| 21Q2 (10) | 33.55 | 29.84 | 19.86 | 14.38 | 76.88 | 27.14 | 13.02 | 68.0 | 203.5 | 7.26 | 89.56 | 440.85 | 1.76 | 109.52 | 509.3 | 0.98 | 66.1 | 250.0 | 0.09 | 12.5 | 12.5 | 28.04 | 15.01 | 35.52 | 170.69 | -0.37 | 11.11 | 111.43 | 5.86 | -57.14 | -11.43 | -117.14 | 92.86 | 29.63 | 8.18 | 0 |
| 21Q1 (9) | 25.84 | 7.94 | 77.72 | 8.13 | 111.72 | 211.22 | 7.75 | 231.36 | 143.88 | 3.83 | 144.74 | 126.04 | 0.84 | 144.92 | 136.68 | 0.59 | 591.67 | 220.41 | 0.08 | 0.0 | 33.33 | 24.38 | 68.6 | 793.04 | 171.33 | -7.58 | 12.59 | 105.26 | 263.74 | 159.11 | -5.26 | -103.07 | -108.86 | 27.39 | -0.72 | -21.32 |
| 20Q4 (8) | 23.94 | -15.5 | 19.22 | 3.84 | 38.13 | -54.82 | -5.90 | 24.26 | -362.22 | -8.56 | 63.15 | -1350.85 | -1.87 | 57.98 | -1600.0 | -0.12 | 87.37 | -137.5 | 0.08 | 14.29 | 0.0 | 14.46 | -9.0 | -14.34 | 185.38 | 7.9 | 28.29 | -64.29 | -82.14 | -116.07 | 171.43 | 26.71 | 157.14 | 27.59 | -18.57 | 80.68 |
| 20Q3 (7) | 28.33 | 1.21 | 542.4 | 2.78 | -75.42 | 113.51 | -7.79 | -281.59 | 75.07 | -23.23 | -990.61 | 22.52 | -4.45 | -934.88 | -9.61 | -0.95 | -439.29 | 40.99 | 0.07 | -12.5 | 16.67 | 15.89 | -23.2 | 217.18 | 171.80 | 11.83 | 40.39 | -35.29 | -113.57 | -153.92 | 135.29 | 184.56 | 291.64 | 33.88 | 0 | -4.7 |
| 20Q2 (6) | 27.99 | 92.5 | 286.6 | 11.31 | 254.72 | 151.06 | 4.29 | 124.29 | 114.76 | -2.13 | 85.52 | 92.49 | -0.43 | 81.22 | 88.41 | 0.28 | 157.14 | 117.61 | 0.08 | 33.33 | 33.33 | 20.69 | 657.88 | 261.89 | 153.62 | 0.95 | 38.97 | 260.00 | 540.0 | 238.0 | -160.00 | -369.47 | -793.33 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 14.54 | -27.59 | 222.7 | -7.31 | -186.0 | 84.23 | -17.66 | -884.89 | 67.34 | -14.71 | -2393.22 | 68.56 | -2.29 | -1981.82 | 49.0 | -0.49 | -253.12 | 75.98 | 0.06 | -25.0 | 20.0 | 2.73 | -83.83 | 108.56 | 152.17 | 5.31 | 53.55 | 40.62 | -89.84 | -53.03 | 59.38 | 119.79 | 299.43 | 34.81 | 127.96 | -36.14 |
| 19Q4 (4) | 20.08 | 355.33 | 0.0 | 8.50 | 141.3 | 0.0 | 2.25 | 107.2 | 0.0 | -0.59 | 98.03 | 0.0 | -0.11 | 97.29 | 0.0 | 0.32 | 119.88 | 0.0 | 0.08 | 33.33 | 0.0 | 16.88 | 224.48 | 0.0 | 144.50 | 18.08 | 0.0 | 400.00 | 511.11 | 0.0 | -300.00 | -968.42 | 0.0 | 15.27 | -57.05 | 0.0 |
| 19Q3 (3) | 4.41 | -39.09 | 0.0 | -20.58 | 7.09 | 0.0 | -31.25 | -7.54 | 0.0 | -29.98 | -5.71 | 0.0 | -4.06 | -9.43 | 0.0 | -1.61 | -1.26 | 0.0 | 0.06 | 0.0 | 0.0 | -13.56 | -6.1 | 0.0 | 122.37 | 10.7 | 0.0 | 65.45 | -14.91 | 0.0 | 34.55 | 49.7 | 0.0 | 35.55 | -10.41 | 0.0 |
| 19Q2 (2) | 7.24 | 161.1 | 0.0 | -22.15 | 52.22 | 0.0 | -29.06 | 46.25 | 0.0 | -28.36 | 39.39 | 0.0 | -3.71 | 17.37 | 0.0 | -1.59 | 22.06 | 0.0 | 0.06 | 20.0 | 0.0 | -12.78 | 59.91 | 0.0 | 110.54 | 11.54 | 0.0 | 76.92 | -11.06 | 0.0 | 23.08 | 55.24 | 0.0 | 39.68 | -27.21 | 0.0 |
| 19Q1 (1) | -11.85 | 0.0 | 0.0 | -46.36 | 0.0 | 0.0 | -54.07 | 0.0 | 0.0 | -46.79 | 0.0 | 0.0 | -4.49 | 0.0 | 0.0 | -2.04 | 0.0 | 0.0 | 0.05 | 0.0 | 0.0 | -31.88 | 0.0 | 0.0 | 99.10 | 0.0 | 0.0 | 86.49 | 0.0 | 0.0 | 14.86 | 0.0 | 0.0 | 54.51 | 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) | 14.97 | -30.6 | -53.00 | 0 | 13.23 | -9.03 | 11.63 | 0 | 7.45 | 0 | 5.29 | 0 | 3.11 | 1536.84 | 0.25 | 4.17 | 31.80 | 76.86 | 177.36 | -12.53 | -455.21 | 0 | 555.21 | 0 | 0.09 | -21.25 | 39.07 | -4.87 |
| 2022 (9) | 21.57 | -30.8 | -16.69 | 0 | 14.54 | 34.11 | -3.12 | 0 | -4.27 | 0 | -2.93 | 0 | 0.19 | -93.21 | 0.24 | -27.27 | 17.98 | -24.49 | 202.76 | 13.75 | 545.83 | 368.64 | -441.67 | 0 | 0.12 | -25.72 | 41.07 | 29.15 |
| 2021 (8) | 31.17 | 29.23 | 9.60 | 198.14 | 10.84 | 1.54 | 8.19 | 0 | 4.92 | 0 | 4.51 | 0 | 2.80 | 0 | 0.33 | 13.79 | 23.81 | 69.95 | 178.25 | -3.85 | 116.47 | 0 | -17.65 | 0 | 0.16 | -17.55 | 31.80 | 7.0 |
| 2020 (7) | 24.12 | 238.76 | 3.22 | 0 | 10.68 | -9.24 | -6.12 | 0 | -11.74 | 0 | -8.89 | 0 | -1.24 | 0 | 0.29 | 16.0 | 14.01 | 0 | 185.38 | 28.29 | -52.83 | 0 | 152.83 | 374.58 | 0.19 | -38.41 | 29.72 | -11.49 |
| 2019 (6) | 7.12 | -70.64 | -16.41 | 0 | 11.76 | 45.0 | -24.16 | 0 | -23.23 | 0 | -12.85 | 0 | -4.82 | 0 | 0.25 | -28.57 | -6.84 | 0 | 144.50 | 47.9 | 67.80 | -79.32 | 32.20 | 0 | 0.31 | -11.66 | 33.58 | 9.24 |
| 2018 (5) | 24.25 | -0.29 | 5.77 | -28.77 | 8.11 | 4.99 | 1.73 | -66.47 | -2.48 | 0 | -1.99 | 0 | -0.34 | 0 | 0.35 | -10.26 | 12.02 | -27.89 | 97.70 | -42.47 | 327.78 | 107.22 | -227.78 | 0 | 0.35 | 0 | 30.74 | 8.89 |
| 2017 (4) | 24.32 | -3.95 | 8.10 | -21.66 | 7.73 | 2.56 | 5.16 | -23.1 | 2.95 | -15.23 | 2.89 | -13.47 | 2.30 | -9.09 | 0.39 | -9.3 | 16.67 | -3.64 | 169.82 | 31.27 | 158.18 | 2.6 | -58.18 | 0 | 0.00 | 0 | 28.23 | 8.08 |
| 2016 (3) | 25.32 | 1.44 | 10.34 | 24.28 | 7.53 | -1.31 | 6.71 | 66.92 | 3.48 | 114.81 | 3.34 | 119.74 | 2.53 | 57.14 | 0.43 | 0.0 | 17.30 | 20.64 | 129.37 | 11.45 | 154.17 | -25.51 | -54.17 | 0 | 0.00 | 0 | 26.12 | -0.99 |
| 2015 (2) | 24.96 | 15.99 | 8.32 | 95.31 | 7.64 | -2.25 | 4.02 | 98.03 | 1.62 | 268.18 | 1.52 | 270.73 | 1.61 | 42.48 | 0.43 | -2.27 | 14.34 | 14.35 | 116.08 | -2.36 | 206.98 | -1.22 | -106.98 | 0 | 0.00 | 0 | 26.38 | 5.52 |
| 2014 (1) | 21.52 | 0 | 4.26 | 0 | 7.81 | -4.68 | 2.03 | 0 | 0.44 | 0 | 0.41 | 0 | 1.13 | 0 | 0.44 | 7.32 | 12.54 | 223.2 | 118.88 | 14.31 | 209.52 | 196.07 | -109.52 | 0 | 0.00 | 0 | 25.00 | -6.65 |
