- 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) | 22.12 | -11.02 | -1.82 | -14.85 | -122.31 | -343.28 | -16.58 | -1275.89 | -252.02 | -15.03 | -1115.54 | -288.37 | -4.26 | -1046.67 | -152.07 | -2.40 | -685.37 | -258.21 | 0.17 | 0.0 | -22.73 | -7.87 | -180.14 | -614.38 | 66.55 | -5.32 | -33.39 | 90.48 | 120.11 | 32.23 | 9.52 | -98.27 | -63.81 | 40.23 | 0.3 | 23.71 |
| 23Q3 (19) | 24.86 | -12.71 | 3.84 | -6.68 | -56.44 | -1143.75 | 1.41 | 135.61 | -78.04 | 1.48 | 135.92 | -76.95 | 0.45 | 135.43 | -83.58 | 0.41 | 178.85 | -72.48 | 0.17 | 0.0 | -19.05 | 9.82 | 127.31 | -23.93 | 70.29 | -12.75 | -29.65 | -450.00 | -512.5 | -3850.0 | 550.00 | 6150.0 | 497.83 | 40.11 | 28.6 | 39.51 |
| 23Q2 (18) | 28.48 | 8.08 | 612.0 | -4.27 | -291.74 | 80.32 | -3.96 | -84.19 | 81.74 | -4.12 | -128.89 | 81.14 | -1.27 | -95.38 | 81.73 | -0.52 | -246.67 | 85.14 | 0.17 | -5.56 | 6.25 | 4.32 | -20.0 | 130.97 | 80.56 | -10.91 | -25.85 | 109.09 | 154.55 | 9.09 | -9.09 | -121.21 | 0 | 31.19 | -8.88 | -14.9 |
| 23Q1 (17) | 26.35 | 16.96 | 92.2 | -1.09 | 67.46 | 90.37 | -2.15 | 54.35 | 54.16 | -1.80 | 53.49 | 60.78 | -0.65 | 61.54 | 60.84 | -0.15 | 77.61 | 82.56 | 0.18 | -18.18 | -10.0 | 5.40 | 252.94 | 221.43 | 90.43 | -9.49 | 11.88 | 42.86 | -37.36 | -81.79 | 42.86 | 62.86 | 130.36 | 34.23 | 5.26 | 10.88 |
| 22Q4 (16) | 22.53 | -5.89 | 67.38 | -3.35 | -623.44 | 40.81 | -4.71 | -173.36 | -2.17 | -3.87 | -160.28 | 38.67 | -1.69 | -161.68 | 35.5 | -0.67 | -144.97 | 50.74 | 0.22 | 4.76 | -4.35 | 1.53 | -88.15 | -60.47 | 99.91 | -0.01 | 33.48 | 68.42 | 470.18 | -44.02 | 26.32 | -71.4 | 218.42 | 32.52 | 13.11 | 21.07 |
| 22Q3 (15) | 23.94 | 498.5 | 64.31 | 0.64 | 102.95 | 107.76 | 6.42 | 129.6 | 223.7 | 6.42 | 129.38 | 242.35 | 2.74 | 139.42 | 239.09 | 1.49 | 142.57 | 255.21 | 0.21 | 31.25 | -8.7 | 12.91 | 192.54 | 2431.37 | 99.92 | -8.03 | 10.53 | 12.00 | -88.0 | -92.73 | 92.00 | 0 | 253.33 | 28.75 | -21.56 | 3.57 |
| 22Q2 (14) | 4.00 | -70.82 | -78.17 | -21.70 | -91.7 | -452.16 | -21.69 | -362.47 | -807.53 | -21.85 | -376.03 | -784.62 | -6.95 | -318.67 | -537.61 | -3.50 | -306.98 | -614.29 | 0.16 | -20.0 | -30.43 | -13.95 | -930.36 | -475.0 | 108.65 | 34.42 | 28.66 | 100.00 | -57.5 | -37.5 | -0.00 | 100.0 | 100.0 | 36.65 | 18.72 | 20.64 |
| 22Q1 (13) | 13.71 | 1.86 | -24.09 | -11.32 | -100.0 | -6057.89 | -4.69 | -1.74 | -410.6 | -4.59 | 27.26 | -615.73 | -1.66 | 36.64 | -432.0 | -0.86 | 36.76 | -352.94 | 0.20 | -13.04 | -25.93 | 1.68 | -56.59 | -67.12 | 80.83 | 7.99 | -20.1 | 235.29 | 92.51 | 1547.06 | -141.18 | -535.29 | -264.71 | 30.87 | 14.93 | 31.03 |
| 21Q4 (12) | 13.46 | -7.62 | -24.04 | -5.66 | 31.39 | -616.46 | -4.61 | 11.18 | -2205.0 | -6.31 | -39.91 | -319.86 | -2.62 | -32.99 | -254.12 | -1.36 | -41.67 | -249.45 | 0.23 | 0.0 | -20.69 | 3.87 | 658.82 | 27.3 | 74.85 | -17.2 | -29.71 | 122.22 | -25.93 | -69.44 | -22.22 | 62.96 | 92.59 | 26.86 | -3.24 | 16.53 |
| 21Q3 (11) | 14.57 | -20.47 | -22.91 | -8.25 | -109.92 | -754.76 | -5.19 | -117.15 | -156.11 | -4.51 | -82.59 | -154.08 | -1.97 | -80.73 | -142.0 | -0.96 | -95.92 | -141.03 | 0.23 | 0.0 | -14.81 | 0.51 | -86.29 | -96.29 | 90.40 | 7.05 | -16.68 | 165.00 | 3.12 | 1000.0 | -60.00 | 0.0 | -168.57 | 27.76 | -8.62 | 22.51 |
| 21Q2 (10) | 18.32 | 1.44 | -1.72 | -3.93 | -2168.42 | -89.86 | -2.39 | -258.28 | -89.68 | -2.47 | -377.53 | -15.96 | -1.09 | -318.0 | -10.1 | -0.49 | -244.12 | -22.5 | 0.23 | -14.81 | 0.0 | 3.72 | -27.2 | -13.69 | 84.45 | -16.52 | -22.19 | 160.00 | 1020.0 | -8.57 | -60.00 | -170.0 | 20.0 | 30.38 | 28.95 | 0 |
| 21Q1 (9) | 18.06 | 1.92 | 0.84 | 0.19 | 124.05 | 103.03 | 1.51 | 855.0 | 125.86 | 0.89 | -68.99 | 114.06 | 0.50 | -70.59 | 121.1 | 0.34 | -62.64 | 129.57 | 0.27 | -6.9 | 35.0 | 5.11 | 68.09 | 149.27 | 101.16 | -5.01 | 10.56 | 14.29 | -96.43 | -86.51 | 85.71 | 128.57 | 1557.14 | 23.56 | 2.21 | 0 |
| 20Q4 (8) | 17.72 | -6.24 | -16.69 | -0.79 | -162.7 | 77.87 | -0.20 | -102.16 | 85.29 | 2.87 | -65.59 | 752.27 | 1.70 | -63.75 | 950.0 | 0.91 | -61.11 | 0 | 0.29 | 7.41 | 16.0 | 3.04 | -77.91 | -28.64 | 106.49 | -1.85 | 21.87 | 400.00 | 2566.67 | 53.85 | -300.00 | -442.86 | -87.5 | 23.05 | 1.72 | -3.31 |
| 20Q3 (7) | 18.90 | 1.39 | 9.57 | 1.26 | 160.87 | 172.0 | 9.25 | 834.13 | 2790.62 | 8.34 | 491.55 | 1416.36 | 4.69 | 573.74 | 1776.0 | 2.34 | 685.0 | 836.0 | 0.27 | 17.39 | 8.0 | 13.76 | 219.26 | 132.04 | 108.50 | -0.03 | 29.12 | 15.00 | -91.43 | 102.14 | 87.50 | 216.67 | -89.06 | 22.66 | 0 | -16.91 |
| 20Q2 (6) | 18.64 | 4.08 | 13.38 | -2.07 | 66.99 | 38.58 | -1.26 | 78.42 | -133.87 | -2.13 | 66.35 | -152.08 | -0.99 | 58.23 | -156.57 | -0.40 | 65.22 | -137.74 | 0.23 | 15.0 | 0.0 | 4.31 | 110.24 | -57.03 | 108.53 | 18.61 | 28.13 | 175.00 | 65.28 | 304.17 | -75.00 | -1175.0 | -140.38 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 17.91 | -15.8 | 43.62 | -6.27 | -75.63 | 38.47 | -5.84 | -329.41 | 26.36 | -6.33 | -1338.64 | 15.6 | -2.37 | -1085.0 | 11.9 | -1.15 | 0 | 8.0 | 0.20 | -20.0 | 5.26 | 2.05 | -51.88 | 540.62 | 91.50 | 4.72 | -2.01 | 105.88 | -59.28 | -18.03 | -5.88 | 96.32 | 79.83 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 21.27 | 23.3 | 0.0 | -3.57 | -104.0 | 0.0 | -1.36 | -525.0 | 0.0 | -0.44 | -180.0 | 0.0 | -0.20 | -180.0 | 0.0 | 0.00 | -100.0 | 0.0 | 0.25 | 0.0 | 0.0 | 4.26 | -28.16 | 0.0 | 87.38 | 3.99 | 0.0 | 260.00 | 137.14 | 0.0 | -160.00 | -120.0 | 0.0 | 23.84 | -12.58 | 0.0 |
| 19Q3 (3) | 17.25 | 4.93 | 0.0 | -1.75 | 48.07 | 0.0 | 0.32 | -91.4 | 0.0 | 0.55 | -86.55 | 0.0 | 0.25 | -85.71 | 0.0 | 0.25 | -76.42 | 0.0 | 0.25 | 8.7 | 0.0 | 5.93 | -40.88 | 0.0 | 84.03 | -0.79 | 0.0 | -700.00 | -716.67 | 0.0 | 800.00 | 330.77 | 0.0 | 27.27 | 2.6 | 0.0 |
| 19Q2 (2) | 16.44 | 31.84 | 0.0 | -3.37 | 66.93 | 0.0 | 3.72 | 146.91 | 0.0 | 4.09 | 154.53 | 0.0 | 1.75 | 165.06 | 0.0 | 1.06 | 184.8 | 0.0 | 0.23 | 21.05 | 0.0 | 10.03 | 3034.37 | 0.0 | 84.70 | -9.3 | 0.0 | -85.71 | -166.36 | 0.0 | 185.71 | 736.73 | 0.0 | 26.58 | -18.72 | 0.0 |
| 19Q1 (1) | 12.47 | 0.0 | 0.0 | -10.19 | 0.0 | 0.0 | -7.93 | 0.0 | 0.0 | -7.50 | 0.0 | 0.0 | -2.69 | 0.0 | 0.0 | -1.25 | 0.0 | 0.0 | 0.19 | 0.0 | 0.0 | 0.32 | 0.0 | 0.0 | 93.38 | 0.0 | 0.0 | 129.17 | 0.0 | 0.0 | -29.17 | 0.0 | 0.0 | 32.70 | 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) | 25.56 | 51.42 | -6.36 | 0 | 7.12 | 18.4 | -4.99 | 0 | -4.56 | 0 | -5.86 | 0 | -2.57 | 0 | 0.70 | -15.66 | 3.21 | 111.18 | 66.55 | -33.39 | 126.79 | -18.03 | -26.79 | 0 | 0.27 | 16.51 | 36.28 | 13.59 |
| 2022 (9) | 16.88 | 4.0 | -8.05 | 0 | 6.02 | 13.17 | -5.20 | 0 | -4.98 | 0 | -7.75 | 0 | -3.66 | 0 | 0.83 | -12.63 | 1.52 | -54.63 | 99.91 | 33.48 | 154.67 | -8.1 | -54.67 | 0 | 0.23 | 102.44 | 31.94 | 18.52 |
| 2021 (8) | 16.23 | -11.26 | -4.14 | 0 | 5.32 | 17.64 | -2.43 | 0 | -2.86 | 0 | -5.12 | 0 | -2.37 | 0 | 0.95 | 0.0 | 3.35 | -45.17 | 74.85 | -29.71 | 168.29 | 0 | -70.73 | 0 | 0.11 | 106.31 | 26.95 | 7.24 |
| 2020 (7) | 18.29 | 7.15 | -1.52 | 0 | 4.52 | -19.6 | 1.14 | 0 | 1.57 | 0 | 2.94 | 0 | 1.84 | 4500.0 | 0.95 | 4.4 | 6.11 | 15.94 | 106.49 | 21.87 | -133.33 | 0 | 233.33 | 0 | 0.06 | -83.19 | 25.13 | -8.15 |
| 2019 (6) | 17.07 | -8.72 | -4.44 | 0 | 5.62 | 5.96 | -1.01 | 0 | -0.53 | 0 | -0.91 | 0 | 0.04 | 0 | 0.91 | -5.21 | 5.27 | 28.85 | 87.38 | -4.61 | 426.67 | 3206.67 | -326.67 | 0 | 0.33 | 9.66 | 27.36 | 5.51 |
| 2018 (5) | 18.70 | -12.04 | -0.23 | 0 | 5.30 | 48.63 | -1.90 | 0 | -1.97 | 0 | -3.69 | 0 | -1.46 | 0 | 0.96 | -7.69 | 4.09 | -53.99 | 91.60 | -6.9 | 12.90 | -81.47 | 87.10 | 186.69 | 0.30 | 0 | 25.93 | 4.73 |
| 2017 (4) | 21.26 | 13.87 | 3.31 | 3577.78 | 3.57 | 63.96 | 4.77 | 243.17 | 4.65 | 416.67 | 9.31 | 454.17 | 5.27 | 290.37 | 1.04 | 9.47 | 8.89 | 111.16 | 98.39 | 16.04 | 69.62 | 1292.41 | 30.38 | -68.02 | 0.00 | 0 | 24.76 | 3.08 |
| 2016 (3) | 18.67 | 57.82 | 0.09 | 0 | 2.18 | -47.62 | 1.39 | 0 | 0.90 | 0 | 1.68 | 0 | 1.35 | 0 | 0.95 | 0.0 | 4.21 | 0 | 84.79 | -23.49 | 5.00 | -94.46 | 95.00 | 871.11 | 0.00 | 0 | 24.02 | -10.37 |
| 2015 (2) | 11.83 | 42.36 | -5.12 | 0 | 4.16 | -33.91 | -5.70 | 0 | -6.25 | 0 | -12.49 | 0 | -5.41 | 0 | 0.95 | -4.04 | -0.93 | 0 | 110.82 | -0.6 | 90.22 | -13.48 | 9.78 | 0 | 0.00 | 0 | 26.80 | -22.14 |
| 2014 (1) | 8.31 | 0 | -8.87 | 0 | 6.29 | 6.69 | -8.53 | 0 | -9.29 | 0 | -19.73 | 0 | -8.45 | 0 | 0.99 | -9.17 | -1.35 | 0 | 111.49 | -5.87 | 104.27 | 23.46 | -4.27 | 0 | 0.00 | 0 | 34.42 | 1.83 |
