- 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) | 15.44 | -9.65 | -17.78 | 5.68 | -3.24 | -46.11 | 2.39 | -72.43 | -71.45 | 2.39 | -68.68 | -50.1 | 1.06 | -69.8 | -59.85 | 0.60 | -66.29 | -50.41 | 0.21 | -4.55 | -8.7 | 8.02 | -44.31 | -39.01 | 116.47 | 1.86 | -8.64 | 242.86 | 259.62 | 93.84 | -142.86 | -540.0 | -464.94 | 13.74 | -12.93 | 9.57 |
| 23Q3 (19) | 17.09 | 26.78 | 14.62 | 5.87 | 226.11 | 13.98 | 8.67 | -20.24 | -41.1 | 7.63 | -18.92 | -38.57 | 3.51 | -3.84 | -50.49 | 1.78 | -2.73 | -38.83 | 0.22 | 22.22 | -4.35 | 14.40 | -17.24 | -23.12 | 114.34 | 5.87 | -23.3 | 67.53 | 310.39 | 91.34 | 32.47 | -61.14 | -50.32 | 15.78 | -4.19 | 8.9 |
| 23Q2 (18) | 13.48 | -2.53 | 47.0 | 1.80 | -45.95 | 900.0 | 10.87 | 380.97 | 113.14 | 9.41 | 316.37 | 122.46 | 3.65 | 296.74 | 37.74 | 1.83 | 245.28 | 66.36 | 0.18 | -5.26 | -25.0 | 17.40 | 95.51 | 92.48 | 108.00 | -4.7 | -28.75 | 16.46 | -88.61 | 368.99 | 83.54 | 287.97 | -13.42 | 16.47 | 7.16 | 20.04 |
| 23Q1 (17) | 13.83 | -26.36 | 82.94 | 3.33 | -68.41 | 260.1 | 2.26 | -73.0 | 679.31 | 2.26 | -52.82 | 882.61 | 0.92 | -65.15 | 607.69 | 0.53 | -56.2 | 381.82 | 0.19 | -17.39 | -13.64 | 8.90 | -32.32 | 92.64 | 113.33 | -11.11 | -29.03 | 144.44 | 15.29 | 120.63 | -44.44 | -75.76 | -105.56 | 15.37 | 22.57 | 4.49 |
| 22Q4 (16) | 18.78 | 25.96 | 84.66 | 10.54 | 104.66 | 197.74 | 8.37 | -43.14 | 202.17 | 4.79 | -61.43 | 99.58 | 2.64 | -62.76 | 45.86 | 1.21 | -58.42 | 57.14 | 0.23 | 0.0 | -23.33 | 13.15 | -29.79 | 106.11 | 127.49 | -14.48 | -11.34 | 125.29 | 254.98 | 0.23 | -25.29 | -138.69 | 8.97 | 12.54 | -13.46 | 26.54 |
| 22Q3 (15) | 14.91 | 62.6 | 25.29 | 5.15 | 2761.11 | 43.45 | 14.72 | 188.63 | 289.42 | 12.42 | 193.62 | 262.1 | 7.09 | 167.55 | 173.75 | 2.91 | 164.55 | 164.55 | 0.23 | -4.17 | -23.33 | 18.73 | 107.19 | 163.8 | 149.08 | -1.64 | -2.4 | 35.29 | 905.88 | -63.17 | 65.36 | -32.26 | 945.75 | 14.49 | 5.61 | 17.71 |
| 22Q2 (14) | 9.17 | 21.3 | -3.88 | 0.18 | 108.65 | -72.31 | 5.10 | 1658.62 | 292.31 | 4.23 | 1739.13 | 233.07 | 2.65 | 1938.46 | 211.76 | 1.10 | 900.0 | 161.9 | 0.24 | 9.09 | -14.29 | 9.04 | 95.67 | 72.52 | 151.57 | -5.08 | 5.43 | 3.51 | 100.5 | -92.48 | 96.49 | -87.94 | 106.77 | 13.72 | -6.73 | 5.38 |
| 22Q1 (13) | 7.56 | -25.66 | -31.52 | -2.08 | -158.76 | -366.67 | 0.29 | -89.53 | -83.71 | 0.23 | -90.42 | -87.08 | 0.13 | -92.82 | -87.74 | 0.11 | -85.71 | -78.85 | 0.22 | -26.67 | -15.38 | 4.62 | -27.59 | -26.43 | 159.69 | 11.05 | 22.72 | -700.00 | -660.0 | -1675.0 | 800.00 | 2980.0 | 1340.0 | 14.71 | 48.44 | -1.34 |
| 21Q4 (12) | 10.17 | -14.54 | -30.58 | 3.54 | -1.39 | -24.2 | 2.77 | -26.72 | -12.06 | 2.40 | -30.03 | 12.15 | 1.81 | -30.12 | 31.16 | 0.77 | -30.0 | 14.93 | 0.30 | 0.0 | 7.14 | 6.38 | -10.14 | -17.04 | 143.80 | -5.85 | 8.46 | 125.00 | 30.43 | -15.0 | -27.78 | -544.44 | 40.97 | 9.91 | -19.5 | -28.03 |
| 21Q3 (11) | 11.90 | 24.74 | -18.44 | 3.59 | 452.31 | -30.69 | 3.78 | 190.77 | 75.81 | 3.43 | 170.08 | 69.8 | 2.59 | 204.71 | 93.28 | 1.10 | 161.9 | 61.76 | 0.30 | 7.14 | 3.45 | 7.10 | 35.5 | 7.74 | 152.74 | 6.25 | 26.16 | 95.83 | 105.36 | -59.92 | 6.25 | -86.61 | 104.49 | 12.31 | -5.45 | -8.34 |
| 21Q2 (10) | 9.54 | -13.59 | -46.76 | 0.65 | -16.67 | -92.13 | 1.30 | -26.97 | -84.45 | 1.27 | -28.65 | -83.09 | 0.85 | -19.81 | -83.53 | 0.42 | -19.23 | -82.5 | 0.28 | 7.69 | -9.68 | 5.24 | -16.56 | -57.29 | 143.76 | 10.47 | 10.18 | 46.67 | 5.0 | -52.81 | 46.67 | -16.0 | 4100.0 | 13.02 | -12.68 | 0 |
| 21Q1 (9) | 11.04 | -24.64 | -5.07 | 0.78 | -83.3 | 232.2 | 1.78 | -43.49 | 24.48 | 1.78 | -16.82 | 42.4 | 1.06 | -23.19 | 73.77 | 0.52 | -22.39 | 33.33 | 0.26 | -7.14 | 18.18 | 6.28 | -18.34 | -13.5 | 130.13 | -1.85 | 9.68 | 44.44 | -69.78 | 222.22 | 55.56 | 218.06 | -59.26 | 14.91 | 8.28 | 3.47 |
| 20Q4 (8) | 14.65 | 0.41 | -6.63 | 4.67 | -9.85 | 24.2 | 3.15 | 46.51 | 34.04 | 2.14 | 5.94 | 3.38 | 1.38 | 2.99 | 10.4 | 0.67 | -1.47 | -8.22 | 0.28 | -3.45 | -3.45 | 7.69 | 16.69 | 5.92 | 132.58 | 9.51 | 1.78 | 147.06 | -38.5 | -9.5 | -47.06 | 66.18 | 24.71 | 13.77 | 2.53 | 1.47 |
| 20Q3 (7) | 14.59 | -18.58 | -2.08 | 5.18 | -37.29 | 79.86 | 2.15 | -74.28 | -37.5 | 2.02 | -73.1 | -28.37 | 1.34 | -74.03 | -13.55 | 0.68 | -71.67 | -20.93 | 0.29 | -6.45 | 3.57 | 6.59 | -46.29 | -22.38 | 121.07 | -7.21 | 27.94 | 239.13 | 141.82 | 178.99 | -139.13 | -12621.74 | -911.59 | 13.43 | 0 | 5.25 |
| 20Q2 (6) | 17.92 | 54.08 | 28.83 | 8.26 | 1500.0 | 432.9 | 8.36 | 484.62 | 143.73 | 7.51 | 500.8 | 317.22 | 5.16 | 745.9 | 448.94 | 2.40 | 515.38 | 313.79 | 0.31 | 40.91 | 19.23 | 12.27 | 69.01 | 38.49 | 130.48 | 9.98 | 28.56 | 98.89 | 371.94 | 110.14 | 1.11 | -99.19 | -98.01 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 11.63 | -25.88 | -22.67 | -0.59 | -115.69 | -138.31 | 1.43 | -39.15 | 550.0 | 1.25 | -39.61 | 861.54 | 0.61 | -51.2 | 771.43 | 0.39 | -46.58 | 178.57 | 0.22 | -24.14 | -18.52 | 7.26 | 0.0 | 34.94 | 118.64 | -8.92 | 16.14 | -36.36 | -122.38 | -104.55 | 136.36 | 318.18 | 119.48 | 14.41 | 6.19 | 5.65 |
| 19Q4 (4) | 15.69 | 5.3 | 0.0 | 3.76 | 30.56 | 0.0 | 2.35 | -31.69 | 0.0 | 2.07 | -26.6 | 0.0 | 1.25 | -19.35 | 0.0 | 0.73 | -15.12 | 0.0 | 0.29 | 3.57 | 0.0 | 7.26 | -14.49 | 0.0 | 130.26 | 37.65 | 0.0 | 162.50 | 89.58 | 0.0 | -62.50 | -464.58 | 0.0 | 13.57 | 6.35 | 0.0 |
| 19Q3 (3) | 14.90 | 7.12 | 0.0 | 2.88 | 85.81 | 0.0 | 3.44 | 0.29 | 0.0 | 2.82 | 56.67 | 0.0 | 1.55 | 64.89 | 0.0 | 0.86 | 48.28 | 0.0 | 0.28 | 7.69 | 0.0 | 8.49 | -4.18 | 0.0 | 94.63 | -6.76 | 0.0 | 85.71 | 82.14 | 0.0 | 17.14 | -69.32 | 0.0 | 12.76 | -10.01 | 0.0 |
| 19Q2 (2) | 13.91 | -7.51 | 0.0 | 1.55 | 0.65 | 0.0 | 3.43 | 1459.09 | 0.0 | 1.80 | 1284.62 | 0.0 | 0.94 | 1242.86 | 0.0 | 0.58 | 314.29 | 0.0 | 0.26 | -3.7 | 0.0 | 8.86 | 64.68 | 0.0 | 101.49 | -0.65 | 0.0 | 47.06 | -94.12 | 0.0 | 55.88 | 107.98 | 0.0 | 14.18 | 3.96 | 0.0 |
| 19Q1 (1) | 15.04 | 0.0 | 0.0 | 1.54 | 0.0 | 0.0 | 0.22 | 0.0 | 0.0 | 0.13 | 0.0 | 0.0 | 0.07 | 0.0 | 0.0 | 0.14 | 0.0 | 0.0 | 0.27 | 0.0 | 0.0 | 5.38 | 0.0 | 0.0 | 102.15 | 0.0 | 0.0 | 800.00 | 0.0 | 0.0 | -700.00 | 0.0 | 0.0 | 13.64 | 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) | 15.07 | 19.7 | 4.32 | 25.58 | 5.31 | 42.7 | 5.94 | -17.04 | 5.33 | -2.2 | 8.91 | -29.45 | 4.43 | -22.14 | 0.75 | -23.47 | 12.03 | 5.43 | 116.47 | -8.64 | 72.45 | 50.94 | 27.04 | -48.0 | 1.24 | 658.32 | 15.28 | 10.32 |
| 2022 (9) | 12.59 | 17.88 | 3.44 | 51.54 | 3.72 | 7.91 | 7.16 | 188.71 | 5.45 | 139.04 | 12.63 | 101.11 | 5.69 | 98.95 | 0.98 | -15.52 | 11.41 | 81.69 | 127.49 | -11.34 | 48.00 | -47.51 | 52.00 | 508.4 | 0.16 | -13.91 | 13.85 | 11.87 |
| 2021 (8) | 10.68 | -28.51 | 2.27 | -52.41 | 3.45 | -16.6 | 2.48 | -37.53 | 2.28 | -32.94 | 6.28 | -24.43 | 2.86 | -27.41 | 1.16 | 9.43 | 6.28 | -26.81 | 143.80 | 8.46 | 91.45 | -24.03 | 8.55 | 0 | 0.19 | -18.06 | 12.38 | -11.89 |
| 2020 (7) | 14.94 | 0.34 | 4.77 | 96.3 | 4.14 | -10.24 | 3.97 | 70.39 | 3.40 | 101.18 | 8.31 | 107.75 | 3.94 | 71.3 | 1.06 | -3.64 | 8.58 | 14.86 | 132.58 | 1.78 | 120.38 | 15.57 | -20.38 | 0 | 0.23 | 316.58 | 14.05 | 3.77 |
| 2019 (6) | 14.89 | -6.18 | 2.43 | -28.11 | 4.61 | 43.38 | 2.33 | -48.79 | 1.69 | -54.93 | 4.00 | -57.17 | 2.30 | -53.06 | 1.10 | -9.84 | 7.47 | -8.12 | 130.26 | 28.18 | 104.17 | 40.2 | -4.17 | 0 | 0.06 | -28.26 | 13.54 | -3.15 |
| 2018 (5) | 15.87 | -1.12 | 3.38 | 18.6 | 3.22 | -6.48 | 4.55 | 17.88 | 3.75 | -0.27 | 9.34 | -0.11 | 4.90 | -0.61 | 1.22 | -1.61 | 8.13 | 7.26 | 101.62 | -5.79 | 74.30 | 0.59 | 25.70 | -1.67 | 0.08 | 0 | 13.98 | -3.25 |
| 2017 (4) | 16.05 | -21.4 | 2.85 | -55.12 | 3.44 | 12.08 | 3.86 | -49.28 | 3.76 | -40.6 | 9.35 | -37.92 | 4.93 | -39.58 | 1.24 | -0.8 | 7.58 | -30.39 | 107.87 | 16.28 | 73.86 | -11.42 | 26.14 | 57.3 | 0.00 | 0 | 14.45 | -12.79 |
| 2016 (3) | 20.42 | 30.9 | 6.35 | 85.67 | 3.07 | -17.0 | 7.61 | 27.47 | 6.33 | 28.4 | 15.06 | 26.45 | 8.16 | 31.19 | 1.25 | 4.17 | 10.89 | 8.79 | 92.77 | 6.16 | 83.38 | 45.33 | 16.62 | -61.02 | 0.00 | 0 | 16.57 | 12.04 |
| 2015 (2) | 15.60 | 9.55 | 3.42 | -28.3 | 3.70 | 19.47 | 5.97 | 44.55 | 4.93 | 43.31 | 11.91 | 31.02 | 6.22 | 32.34 | 1.20 | -5.51 | 10.01 | 32.41 | 87.39 | -26.07 | 57.38 | -50.25 | 42.62 | 0 | 0.00 | 0 | 14.79 | -0.07 |
| 2014 (1) | 14.24 | 0 | 4.77 | 0 | 3.09 | -34.64 | 4.13 | 0 | 3.44 | 0 | 9.09 | 0 | 4.70 | 0 | 1.27 | 11.4 | 7.56 | 46.51 | 118.20 | 23.61 | 115.34 | 0 | -15.34 | 0 | 0.00 | 0 | 14.80 | -7.09 |
