- 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) | 26.57 | -0.04 | -20.33 | 6.67 | 1312.73 | -56.32 | 1.36 | -85.41 | -87.24 | 0.00 | -100.0 | -100.0 | 0.00 | -100.0 | -100.0 | 0.01 | -98.89 | -99.03 | 0.14 | 16.67 | 16.67 | 9.09 | -47.67 | -47.52 | 22.38 | 0.81 | 5.52 | 462.50 | 7191.67 | 220.19 | -362.50 | -440.31 | -751.09 | 24.41 | -10.68 | 78.31 |
| 23Q3 (19) | 26.58 | -0.08 | -12.16 | -0.55 | -120.75 | -107.44 | 9.32 | -12.65 | -57.85 | 7.34 | -32.23 | -60.98 | 1.12 | -30.0 | -64.22 | 0.90 | -26.23 | -62.18 | 0.12 | 9.09 | -7.69 | 17.37 | -6.61 | -38.75 | 22.20 | -30.71 | -9.13 | -6.52 | -125.59 | -119.57 | 106.52 | 42.96 | 59.78 | 27.33 | 1.33 | 10.42 |
| 23Q2 (18) | 26.60 | -0.52 | -11.36 | 2.65 | 495.52 | -77.06 | 10.67 | 740.16 | -45.53 | 10.83 | 1253.75 | -38.36 | 1.60 | 1130.77 | -59.6 | 1.22 | 1009.09 | -57.04 | 0.11 | -8.33 | -31.25 | 18.60 | 122.75 | -22.18 | 32.04 | 0.85 | -18.06 | 25.49 | 159.48 | -56.61 | 74.51 | -47.84 | 80.59 | 26.97 | 10.4 | 5.02 |
| 23Q1 (17) | 26.74 | -19.82 | -7.79 | -0.67 | -104.39 | -105.93 | 1.27 | -88.09 | -94.23 | 0.80 | -90.35 | -95.59 | 0.13 | -89.68 | -96.51 | 0.11 | -89.32 | -96.0 | 0.12 | 0.0 | -20.0 | 8.35 | -51.79 | -68.47 | 31.77 | 49.79 | -21.22 | -42.86 | -129.67 | -183.52 | 142.86 | 435.4 | 193.44 | 24.43 | 78.45 | 0.08 |
| 22Q4 (16) | 33.35 | 10.21 | 25.05 | 15.27 | 106.63 | 106.35 | 10.66 | -51.79 | -2.38 | 8.29 | -55.93 | -14.09 | 1.26 | -59.74 | -33.33 | 1.03 | -56.72 | -28.97 | 0.12 | -7.69 | -20.0 | 17.32 | -38.93 | 12.39 | 21.21 | -13.18 | -33.03 | 144.44 | 333.33 | 113.78 | -42.59 | -163.89 | -231.33 | 13.69 | -44.69 | -41.27 |
| 22Q3 (15) | 30.26 | 0.83 | 9.28 | 7.39 | -36.02 | -49.31 | 22.11 | 12.86 | 27.07 | 18.81 | 7.06 | 30.81 | 3.13 | -20.96 | -10.32 | 2.38 | -16.2 | -8.81 | 0.13 | -18.75 | -27.78 | 28.36 | 18.66 | 33.52 | 24.43 | -37.52 | -21.92 | 33.33 | -43.25 | -60.11 | 66.67 | 61.58 | 305.8 | 24.75 | -3.62 | 34.88 |
| 22Q2 (14) | 30.01 | 3.48 | 4.31 | 11.55 | 2.21 | -30.13 | 19.59 | -11.04 | 39.03 | 17.57 | -3.09 | 42.96 | 3.96 | 6.45 | 23.75 | 2.84 | 3.27 | 19.33 | 0.16 | 6.67 | -15.79 | 23.90 | -9.74 | 38.31 | 39.10 | -3.05 | 3.96 | 58.74 | 14.47 | -50.13 | 41.26 | -15.25 | 343.43 | 25.68 | 5.2 | 39.95 |
| 22Q1 (13) | 29.00 | 8.74 | 11.07 | 11.30 | 52.7 | -17.22 | 22.02 | 101.65 | 20.39 | 18.13 | 87.88 | 18.34 | 3.72 | 96.83 | 11.04 | 2.75 | 89.66 | 9.13 | 0.15 | 0.0 | -6.25 | 26.48 | 71.84 | 18.8 | 40.33 | 27.34 | 22.66 | 51.32 | -24.05 | -31.03 | 48.68 | 50.11 | 90.17 | 24.41 | 4.72 | 16.46 |
| 21Q4 (12) | 26.67 | -3.68 | 13.73 | 7.40 | -49.25 | -45.99 | 10.92 | -37.24 | 13.99 | 9.65 | -32.89 | 43.6 | 1.89 | -45.85 | 11.83 | 1.45 | -44.44 | 11.54 | 0.15 | -16.67 | -21.05 | 15.41 | -27.45 | 13.9 | 31.67 | 1.21 | -7.83 | 67.57 | -19.15 | -52.5 | 32.43 | 97.41 | 176.76 | 23.31 | 27.03 | 33.51 |
| 21Q3 (11) | 27.69 | -3.75 | 47.84 | 14.58 | -11.8 | 150.95 | 17.40 | 23.49 | 464.94 | 14.38 | 17.01 | 385.81 | 3.49 | 9.06 | 428.79 | 2.61 | 9.66 | 392.45 | 0.18 | -5.26 | 5.88 | 21.24 | 22.92 | 171.96 | 31.29 | -16.8 | 12.8 | 83.57 | -29.05 | -55.89 | 16.43 | 196.93 | 118.36 | 18.35 | 0.0 | 1.44 |
| 21Q2 (10) | 28.77 | 10.19 | 20.13 | 16.53 | 21.1 | 47.46 | 14.09 | -22.96 | 34.57 | 12.29 | -19.78 | 46.14 | 3.20 | -4.48 | 95.12 | 2.38 | -5.56 | 93.5 | 0.19 | 18.75 | 35.71 | 17.28 | -22.48 | 5.24 | 37.61 | 14.39 | 20.51 | 117.80 | 58.33 | 9.81 | -16.95 | -166.21 | -133.05 | 18.35 | -12.45 | 0 |
| 21Q1 (9) | 26.11 | 11.34 | 38.66 | 13.65 | -0.36 | 210.93 | 18.29 | 90.92 | 189.4 | 15.32 | 127.98 | 203.37 | 3.35 | 98.22 | 188.79 | 2.52 | 93.85 | 189.66 | 0.16 | -15.79 | -5.88 | 22.29 | 64.75 | 89.22 | 32.88 | -4.31 | -19.75 | 74.40 | -47.7 | 7.47 | 25.60 | 160.59 | -16.8 | 20.96 | 20.05 | -0.66 |
| 20Q4 (8) | 23.45 | 25.2 | 35.86 | 13.70 | 135.8 | 102.66 | 9.58 | 211.04 | 955.36 | 6.72 | 127.03 | 277.78 | 1.69 | 156.06 | 325.33 | 1.30 | 145.28 | 328.07 | 0.19 | 11.76 | 26.67 | 13.53 | 73.24 | 124.75 | 34.36 | 23.86 | -0.46 | 142.25 | -24.92 | 123.71 | -42.25 | 52.78 | -106.04 | 17.46 | -3.48 | -10.46 |
| 20Q3 (7) | 18.73 | -21.8 | -1.27 | 5.81 | -48.17 | 505.21 | 3.08 | -70.58 | 287.8 | 2.96 | -64.8 | 320.9 | 0.66 | -59.76 | 353.85 | 0.53 | -56.91 | 431.25 | 0.17 | 21.43 | 21.43 | 7.81 | -52.44 | 39.96 | 27.74 | -11.12 | -26.56 | 189.47 | 76.63 | 441.05 | -89.47 | -1130.26 | -157.52 | 18.09 | 0 | -29.03 |
| 20Q2 (6) | 23.95 | 27.19 | 36.0 | 11.21 | 155.35 | 271.67 | 10.47 | 65.66 | 389.23 | 8.41 | 66.53 | 705.04 | 1.64 | 41.38 | 783.33 | 1.23 | 41.38 | 920.0 | 0.14 | -17.65 | 16.67 | 16.42 | 39.39 | 321.03 | 31.21 | -23.82 | -32.58 | 107.27 | 54.95 | -39.66 | -7.27 | -123.64 | 90.65 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 18.83 | 9.1 | -7.88 | 4.39 | -35.06 | -24.18 | 6.32 | 664.29 | -28.02 | 5.05 | 233.6 | -34.84 | 1.16 | 254.67 | -31.76 | 0.87 | 252.63 | -32.56 | 0.17 | 13.33 | 6.25 | 11.78 | 95.68 | -18.98 | 40.97 | 18.68 | 24.79 | 69.23 | 111.54 | 5.77 | 30.77 | -95.6 | -10.93 | 21.10 | 8.21 | 6.94 |
| 19Q4 (4) | 17.26 | -9.01 | 0.0 | 6.76 | 604.17 | 0.0 | -1.12 | 31.71 | 0.0 | -3.78 | -182.09 | 0.0 | -0.75 | -188.46 | 0.0 | -0.57 | -256.25 | 0.0 | 0.15 | 7.14 | 0.0 | 6.02 | 7.89 | 0.0 | 34.52 | -8.6 | 0.0 | -600.00 | -980.0 | 0.0 | 700.00 | 350.0 | 0.0 | 19.50 | -23.5 | 0.0 |
| 19Q3 (3) | 18.97 | 7.72 | 0.0 | 0.96 | 114.7 | 0.0 | -1.64 | 54.7 | 0.0 | -1.34 | 3.6 | 0.0 | -0.26 | -8.33 | 0.0 | -0.16 | -6.67 | 0.0 | 0.14 | 16.67 | 0.0 | 5.58 | 43.08 | 0.0 | 37.77 | -18.41 | 0.0 | -55.56 | -131.25 | 0.0 | 155.56 | 300.0 | 0.0 | 25.49 | -10.72 | 0.0 |
| 19Q2 (2) | 17.61 | -13.85 | 0.0 | -6.53 | -212.78 | 0.0 | -3.62 | -141.23 | 0.0 | -1.39 | -117.94 | 0.0 | -0.24 | -114.12 | 0.0 | -0.15 | -111.63 | 0.0 | 0.12 | -25.0 | 0.0 | 3.90 | -73.18 | 0.0 | 46.29 | 41.0 | 0.0 | 177.78 | 171.6 | 0.0 | -77.78 | -325.15 | 0.0 | 28.55 | 44.7 | 0.0 |
| 19Q1 (1) | 20.44 | 0.0 | 0.0 | 5.79 | 0.0 | 0.0 | 8.78 | 0.0 | 0.0 | 7.75 | 0.0 | 0.0 | 1.70 | 0.0 | 0.0 | 1.29 | 0.0 | 0.0 | 0.16 | 0.0 | 0.0 | 14.54 | 0.0 | 0.0 | 32.83 | 0.0 | 0.0 | 65.45 | 0.0 | 0.0 | 34.55 | 0.0 | 0.0 | 19.73 | 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) | 26.62 | -12.64 | 2.12 | -81.29 | 6.84 | 44.34 | 5.45 | -71.3 | 4.51 | -71.97 | 2.76 | -76.12 | 2.31 | -74.78 | 0.50 | -12.28 | 13.13 | -45.77 | 22.38 | 5.52 | 38.74 | -35.11 | 61.26 | 52.02 | 0.75 | -10.38 | 25.72 | 13.55 |
| 2022 (9) | 30.47 | 11.16 | 11.33 | -14.81 | 4.74 | 37.97 | 18.99 | 24.77 | 16.09 | 24.34 | 11.56 | -2.86 | 9.16 | 1.78 | 0.57 | -17.39 | 24.21 | 26.95 | 21.21 | -33.03 | 59.70 | -31.62 | 40.30 | 217.52 | 0.83 | 13.37 | 22.65 | 12.91 |
| 2021 (8) | 27.41 | 28.99 | 13.30 | 48.94 | 3.43 | -21.03 | 15.22 | 107.07 | 12.94 | 125.83 | 11.90 | 135.64 | 9.00 | 134.38 | 0.69 | 4.55 | 19.07 | 55.67 | 31.67 | -7.83 | 87.31 | -28.28 | 12.69 | 0 | 0.74 | 1391.45 | 20.06 | 5.52 |
| 2020 (7) | 21.25 | 13.82 | 8.93 | 325.24 | 4.35 | -20.94 | 7.35 | 600.0 | 5.73 | 742.65 | 5.05 | 852.83 | 3.84 | 753.33 | 0.66 | 13.79 | 12.25 | 55.06 | 34.36 | -0.46 | 121.74 | -37.78 | -21.74 | 0 | 0.05 | -11.44 | 19.01 | -17.49 |
| 2019 (6) | 18.67 | -3.76 | 2.10 | 25.75 | 5.50 | 59.2 | 1.05 | -87.96 | 0.68 | -91.49 | 0.53 | -93.64 | 0.45 | -92.65 | 0.58 | -22.67 | 7.90 | -41.09 | 34.52 | -4.96 | 195.65 | 918.19 | -100.00 | 0 | 0.06 | -86.6 | 23.04 | 9.71 |
| 2018 (5) | 19.40 | -11.82 | 1.67 | -82.82 | 3.45 | -32.83 | 8.72 | 0.23 | 7.99 | 2.7 | 8.33 | -6.93 | 6.12 | -0.49 | 0.75 | -2.6 | 13.41 | -10.6 | 36.32 | -11.89 | 19.22 | -82.82 | 80.78 | 0 | 0.42 | -51.94 | 21.00 | 5.47 |
| 2017 (4) | 22.00 | 80.48 | 9.72 | 0 | 5.14 | -42.12 | 8.70 | 0 | 7.78 | 0 | 8.95 | 0 | 6.15 | 0 | 0.77 | 13.24 | 15.00 | 185.71 | 41.22 | -29.02 | 111.83 | 16.8 | -11.83 | 0 | 0.86 | 0 | 19.91 | 1.37 |
| 2016 (3) | 12.19 | 71.93 | -4.77 | 0 | 8.89 | 14.31 | -4.96 | 0 | -6.08 | 0 | -6.74 | 0 | -3.93 | 0 | 0.68 | -23.6 | 5.25 | -37.05 | 58.07 | -14.69 | 95.74 | -62.53 | 3.55 | 0 | 0.00 | 0 | 19.64 | 36.39 |
| 2015 (2) | 7.09 | -44.44 | -1.61 | 0 | 7.77 | 31.55 | -0.64 | 0 | -0.90 | 0 | -1.31 | 0 | -0.57 | 0 | 0.89 | -17.59 | 8.34 | -39.87 | 68.07 | 9.49 | 255.56 | 270.22 | -151.85 | 0 | 0.00 | 0 | 14.40 | 16.5 |
| 2014 (1) | 12.76 | 0 | 4.83 | 0 | 5.91 | -18.09 | 6.99 | 0 | 6.94 | 0 | 12.72 | 0 | 7.69 | 0 | 1.08 | 12.5 | 13.87 | 27.83 | 62.17 | -20.54 | 69.03 | 0 | 30.97 | -74.51 | 0.00 | 0 | 12.36 | -5.79 |
