- 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) | 27.49 | 17.13 | 22.02 | 19.19 | 21.3 | 134.32 | 19.44 | 17.82 | 142.55 | 15.62 | 18.96 | 127.71 | 18.25 | 216.84 | 1206.06 | 4.16 | 278.18 | 1585.71 | 0.26 | 225.0 | 2500.0 | 20.03 | 10.85 | 208.45 | 278.89 | -33.88 | -30.75 | 98.76 | 2.93 | -19.56 | 1.29 | -69.43 | 105.69 | 0.89 | -35.04 | -96.33 |
| 23Q3 (19) | 23.47 | 3108.97 | -45.07 | 15.82 | 153.86 | -51.44 | 16.50 | 204.43 | -50.54 | 13.13 | 153.64 | -52.89 | 5.76 | 643.4 | 3.97 | 1.10 | 787.5 | -8.33 | 0.08 | 700.0 | 100.0 | 18.07 | 1843.01 | -52.08 | 421.81 | -9.05 | 10.0 | 95.95 | -48.49 | -1.85 | 4.24 | 104.91 | 72.96 | 1.37 | -87.69 | -55.23 |
| 23Q2 (18) | -0.78 | -103.58 | -103.8 | -29.37 | -344.14 | -352.54 | -15.80 | -232.11 | -236.44 | -24.48 | -369.01 | -327.72 | -1.06 | -146.9 | -129.53 | -0.16 | -132.0 | -120.51 | 0.01 | -80.0 | -85.71 | 0.93 | -93.7 | -92.78 | 463.77 | 21.22 | 17.05 | 186.27 | 84.63 | 85.0 | -86.27 | -19225.49 | -24919.61 | 11.13 | 450.99 | 622.73 |
| 23Q1 (17) | 21.79 | -3.28 | -18.6 | 12.03 | 121.51 | -35.29 | 11.96 | 126.18 | -35.63 | 9.10 | 116.15 | -38.01 | 2.26 | 236.97 | -73.51 | 0.50 | 278.57 | -72.07 | 0.05 | 400.0 | -58.33 | 14.77 | 179.97 | -23.87 | 382.59 | -5.0 | 5.21 | 100.89 | -17.82 | 0.89 | -0.45 | 98.04 | 0 | 2.02 | -91.67 | 88.79 |
| 22Q4 (16) | 22.53 | -47.27 | -23.05 | -55.92 | -271.64 | -367.56 | -45.69 | -236.96 | -326.75 | -56.36 | -302.22 | -387.4 | -1.65 | -129.78 | -113.07 | -0.28 | -123.33 | -112.07 | 0.01 | -75.0 | -90.91 | -18.47 | -148.98 | -187.12 | 402.72 | 5.02 | -4.4 | 122.77 | 25.59 | 18.33 | -22.77 | -1029.87 | -507.26 | 24.26 | 692.81 | 1318.71 |
| 22Q3 (15) | 42.73 | 108.13 | 99.77 | 32.58 | 180.14 | 142.59 | 33.36 | 188.08 | 176.16 | 27.87 | 159.26 | 136.19 | 5.54 | 54.32 | -4.97 | 1.20 | 53.85 | 14.29 | 0.04 | -42.86 | -50.0 | 37.71 | 192.78 | 168.97 | 383.47 | -3.22 | -24.32 | 97.76 | -2.91 | -12.02 | 2.45 | 810.2 | 122.04 | 3.06 | 98.7 | 115.49 |
| 22Q2 (14) | 20.53 | -23.31 | -19.65 | 11.63 | -37.44 | -32.97 | 11.58 | -37.67 | -29.82 | 10.75 | -26.77 | -25.76 | 3.59 | -57.91 | -45.52 | 0.78 | -56.42 | -30.97 | 0.07 | -41.67 | 0.0 | 12.88 | -33.61 | -29.54 | 396.23 | 8.96 | -24.67 | 100.69 | 0.69 | -4.15 | -0.34 | 0 | 93.46 | 1.54 | 43.93 | -6.1 |
| 22Q1 (13) | 26.77 | -8.57 | -62.65 | 18.59 | -11.05 | 106.94 | 18.58 | -7.79 | 107.65 | 14.68 | -25.14 | 106.05 | 8.53 | -32.41 | 1301.41 | 1.79 | -22.84 | 2337.5 | 0.12 | 9.09 | 0 | 19.40 | -8.49 | 120.69 | 363.64 | -13.68 | -30.71 | 100.00 | -3.61 | -9.09 | 0.00 | 100.0 | 100.0 | 1.07 | -37.43 | -99.42 |
| 21Q4 (12) | 29.28 | 36.89 | 41.65 | 20.90 | 55.62 | 111.1 | 20.15 | 66.8 | 98.13 | 19.61 | 66.19 | 1547.9 | 12.62 | 116.47 | 126100.0 | 2.32 | 120.95 | 5900.0 | 0.11 | 37.5 | 0 | 21.20 | 51.21 | 517.32 | 421.27 | -16.86 | -10.1 | 103.75 | -6.62 | 105.56 | -3.75 | 66.25 | -100.19 | 1.71 | 20.42 | -98.43 |
| 21Q3 (11) | 21.39 | -16.28 | -35.36 | 13.43 | -22.59 | 112.5 | 12.08 | -26.79 | 375.59 | 11.80 | -18.51 | 602.38 | 5.83 | -11.53 | 4758.33 | 1.05 | -7.08 | 707.69 | 0.08 | 14.29 | 700.0 | 14.02 | -23.3 | -18.63 | 506.68 | -3.67 | 1.92 | 111.11 | 5.77 | -57.67 | -11.11 | -110.63 | 92.59 | 1.42 | -13.41 | -90.37 |
| 21Q2 (10) | 25.55 | -64.35 | 5.97 | 17.35 | 106.48 | 390.62 | 16.50 | 106.8 | 150.05 | 14.48 | 105.97 | 141.11 | 6.59 | 1028.17 | 468.16 | 1.13 | 1512.5 | 694.74 | 0.07 | 0 | 600.0 | 18.28 | 119.5 | 311.09 | 525.98 | 0.23 | 8.07 | 105.05 | -4.5 | 470.25 | -5.28 | 47.25 | -106.47 | 1.64 | -99.11 | -86.97 |
| 21Q1 (9) | 71.67 | 246.73 | 163.78 | -267.84 | -42.27 | -1562.01 | -242.74 | -2486.82 | -1684.46 | -242.74 | -20498.32 | -1708.61 | -0.71 | -7200.0 | -114.95 | -0.08 | -100.0 | -106.96 | 0.00 | 0 | -100.0 | -93.75 | -1745.47 | -586.0 | 524.78 | 11.99 | 37.6 | 110.00 | 105.89 | -8.13 | -10.00 | -100.51 | 49.33 | 183.74 | 68.57 | 0 |
| 20Q4 (8) | 20.67 | -37.53 | -37.08 | -188.26 | -3078.8 | -1166.02 | 10.17 | 300.39 | -38.55 | 1.19 | -29.17 | -92.12 | 0.01 | -91.67 | -99.59 | -0.04 | -130.77 | -106.78 | 0.00 | -100.0 | -100.0 | -5.08 | -129.48 | -125.68 | 468.59 | -5.74 | 19.77 | -1866.67 | -811.11 | -1850.9 | 1966.67 | 1411.11 | 29845.83 | 109.00 | 638.98 | 0 |
| 20Q3 (7) | 33.09 | 37.25 | 22.69 | 6.32 | 205.86 | -66.38 | 2.54 | 107.7 | -77.01 | 1.68 | 104.77 | -81.97 | 0.12 | 106.7 | -94.03 | 0.13 | 168.42 | -84.52 | 0.01 | 0.0 | -80.0 | 17.23 | 298.96 | -19.75 | 497.12 | 2.14 | 46.07 | 262.50 | 1325.0 | 55.18 | -150.00 | -283.87 | -114.0 | 14.75 | 17.16 | 313.17 |
| 20Q2 (6) | 24.11 | -11.26 | -8.5 | -5.97 | -132.59 | -144.06 | -32.97 | -315.21 | -395.7 | -35.22 | -333.4 | -435.75 | -1.79 | -137.68 | -152.34 | -0.19 | -116.52 | -118.81 | 0.01 | -83.33 | -87.5 | -8.66 | -144.89 | -158.47 | 486.69 | 27.62 | 55.32 | 18.42 | -84.62 | -84.89 | 81.58 | 513.33 | 472.93 | 12.59 | 0 | 488.32 |
| 20Q1 (5) | 27.17 | -17.29 | 6.17 | 18.32 | 3.74 | 2.98 | 15.32 | -7.43 | -7.49 | 15.09 | -0.07 | -5.45 | 4.75 | 97.1 | -65.15 | 1.15 | 94.92 | -64.62 | 0.06 | 100.0 | -68.42 | 19.29 | -2.48 | 5.76 | 381.37 | -2.52 | 23.13 | 119.74 | 12.31 | 11.46 | -19.74 | -198.52 | -165.76 | 0.00 | 0 | -100.0 |
| 19Q4 (4) | 32.85 | 21.8 | 0.0 | 17.66 | -6.06 | 0.0 | 16.55 | 49.77 | 0.0 | 15.10 | 62.02 | 0.0 | 2.41 | 19.9 | 0.0 | 0.59 | -29.76 | 0.0 | 0.03 | -40.0 | 0.0 | 19.78 | -7.87 | 0.0 | 391.23 | 14.96 | 0.0 | 106.61 | -36.98 | 0.0 | -6.61 | 90.57 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 26.97 | 2.35 | 0.0 | 18.80 | 38.75 | 0.0 | 11.05 | -0.9 | 0.0 | 9.32 | -11.15 | 0.0 | 2.01 | -41.23 | 0.0 | 0.84 | -16.83 | 0.0 | 0.05 | -37.5 | 0.0 | 21.47 | 44.97 | 0.0 | 340.33 | 8.61 | 0.0 | 169.16 | 38.8 | 0.0 | -70.09 | -220.43 | 0.0 | 3.57 | 66.82 | 0.0 |
| 19Q2 (2) | 26.35 | 2.97 | 0.0 | 13.55 | -23.83 | 0.0 | 11.15 | -32.67 | 0.0 | 10.49 | -34.27 | 0.0 | 3.42 | -74.91 | 0.0 | 1.01 | -68.92 | 0.0 | 0.08 | -57.89 | 0.0 | 14.81 | -18.8 | 0.0 | 313.35 | 1.17 | 0.0 | 121.88 | 13.45 | 0.0 | -21.88 | -194.55 | 0.0 | 2.14 | 107.77 | 0.0 |
| 19Q1 (1) | 25.59 | 0.0 | 0.0 | 17.79 | 0.0 | 0.0 | 16.56 | 0.0 | 0.0 | 15.96 | 0.0 | 0.0 | 13.63 | 0.0 | 0.0 | 3.25 | 0.0 | 0.0 | 0.19 | 0.0 | 0.0 | 18.24 | 0.0 | 0.0 | 309.73 | 0.0 | 0.0 | 107.43 | 0.0 | 0.0 | -7.43 | 0.0 | 0.0 | 1.03 | 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) | 25.34 | -8.09 | 16.58 | -2.64 | 0.89 | -20.55 | 17.17 | -1.38 | 13.46 | -3.58 | 24.83 | 51.96 | 5.89 | 73.75 | 0.42 | 82.61 | 18.57 | -5.45 | 278.89 | -30.75 | 96.60 | -1.29 | 3.40 | 53.98 | 0.04 | 6.98 | 1.34 | -37.67 |
| 2022 (9) | 27.57 | 6.12 | 17.03 | -1.22 | 1.12 | 181.67 | 17.41 | 6.68 | 13.96 | -9.76 | 16.34 | -32.92 | 3.39 | -29.52 | 0.23 | -20.69 | 19.64 | 8.57 | 402.72 | -4.4 | 97.86 | -7.32 | 2.21 | 0 | 0.03 | 8.45 | 2.15 | 13.16 |
| 2021 (8) | 25.98 | -5.73 | 17.24 | 116.31 | 0.40 | -78.04 | 16.32 | 106.58 | 15.47 | 117.58 | 24.36 | 731.4 | 4.81 | 446.59 | 0.29 | 262.5 | 18.09 | 18.86 | 421.27 | -10.1 | 105.59 | 4.34 | -5.59 | 0 | 0.03 | -15.27 | 1.90 | -75.95 |
| 2020 (7) | 27.56 | 3.03 | 7.97 | -53.12 | 1.81 | 185.11 | 7.90 | -45.82 | 7.11 | -48.14 | 2.93 | -86.44 | 0.88 | -82.88 | 0.08 | -75.0 | 15.22 | -16.14 | 468.59 | 19.77 | 101.20 | -13.25 | -0.60 | 0 | 0.04 | -39.1 | 7.90 | 293.03 |
| 2019 (6) | 26.75 | -25.13 | 17.00 | 87.02 | 0.63 | -53.8 | 14.58 | 311.86 | 13.71 | 339.42 | 21.61 | 1900.93 | 5.14 | 550.63 | 0.32 | 255.56 | 18.15 | 46.25 | 391.23 | -0.5 | 116.67 | -54.04 | -16.56 | 0 | 0.06 | 5.65 | 2.01 | -67.0 |
| 2018 (5) | 35.73 | 9.37 | 9.09 | -58.83 | 1.37 | 381.57 | 3.54 | -83.15 | 3.12 | -84.57 | 1.08 | -96.08 | 0.79 | -90.5 | 0.09 | -76.92 | 12.41 | -45.71 | 393.18 | 81.62 | 253.85 | 141.56 | -155.77 | 0 | 0.06 | -13.81 | 6.09 | 210.71 |
| 2017 (4) | 32.67 | 10.86 | 22.08 | 39.57 | 0.28 | -50.03 | 21.01 | 30.5 | 20.22 | 34.8 | 27.54 | 175.68 | 8.32 | 159.19 | 0.39 | 105.26 | 22.86 | 18.2 | 216.49 | -27.45 | 105.08 | 6.71 | -5.08 | 0 | 0.07 | 0 | 1.96 | -42.52 |
| 2016 (3) | 29.47 | 18.64 | 15.82 | -3.3 | 0.57 | 560.24 | 16.10 | -1.53 | 15.00 | -2.85 | 9.99 | -48.56 | 3.21 | -48.8 | 0.19 | -51.28 | 19.34 | 11.02 | 298.42 | 37.55 | 98.48 | -1.65 | 1.77 | 0 | 0.00 | 0 | 3.41 | 61.61 |
| 2015 (2) | 24.84 | -41.32 | 16.36 | -50.23 | 0.09 | 38.48 | 16.35 | -50.03 | 15.44 | -51.23 | 19.42 | -64.12 | 6.27 | -56.91 | 0.39 | -13.33 | 17.42 | -47.73 | 216.96 | -7.75 | 100.13 | -0.31 | -0.13 | 0 | 0.00 | 0 | 2.11 | -14.57 |
| 2014 (1) | 42.33 | 0 | 32.87 | 0 | 0.06 | -80.05 | 32.72 | 0 | 31.66 | 0 | 54.13 | 0 | 14.55 | 0 | 0.45 | 275.0 | 33.33 | 155.99 | 235.19 | -32.9 | 100.44 | -12.54 | -0.44 | 0 | 0.00 | 0 | 2.47 | -58.14 |
