- 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) | 13.41 | -15.07 | -86.2 | -896.93 | 97.95 | 53.41 | -715.12 | 98.4 | 61.87 | -767.90 | 98.28 | 59.03 | -1.69 | -6.29 | 0.0 | -0.93 | 7.0 | 39.61 | 0.00 | 0 | 0 | -800.00 | 0 | 0 | 61.27 | -41.15 | 370.95 | 130.00 | 30.0 | 30.0 | -30.00 | 0 | 0 | 769.69 | -96.98 | -25.12 |
| 23Q3 (19) | 15.79 | -67.6 | -84.01 | -43694.70 | -105413.81 | -4230.28 | -44668.40 | -107398.58 | -4815.48 | -44668.40 | -136325.68 | -4814.61 | -1.59 | -109.48 | -31.4 | -1.00 | -106.77 | 13.04 | 0.00 | -100.0 | 0 | 0.00 | -100.0 | 100.0 | 104.12 | 1094.04 | 1547.47 | 100.00 | 0.0 | 0.0 | -0.00 | 0 | 100.0 | 25478.90 | 1612488.61 | 4456.23 |
| 23Q2 (18) | 48.74 | -16.44 | -39.23 | 41.49 | 100.29 | 117.97 | 41.63 | 100.29 | 125.11 | 32.79 | 100.23 | 119.77 | 16.77 | 1233.11 | 3325.0 | 14.78 | 1263.78 | 2998.04 | 0.45 | 0 | 0 | 42.29 | 0 | 142.29 | 8.72 | -54.3 | 114.25 | 100.00 | 0.0 | -33.33 | 0.00 | 0 | 100.0 | 1.58 | -99.98 | -98.22 |
| 23Q1 (17) | 58.33 | -39.95 | -15.37 | -14335.40 | -644.6 | -3756.4 | -14125.00 | -653.24 | -4918.3 | -14125.00 | -653.53 | -4918.3 | -1.48 | 12.43 | -120.9 | -1.27 | 17.53 | -89.55 | 0.00 | 0 | 0 | 0.00 | 0 | 100.0 | 19.08 | 46.66 | 2513.7 | 100.00 | 0.0 | -25.0 | -0.00 | 0 | 100.0 | 7560.42 | 635.55 | 2464.42 |
| 22Q4 (16) | 97.14 | -1.61 | 145.74 | -1925.24 | -90.8 | -1485.6 | -1875.24 | -106.36 | -1434.44 | -1874.52 | -106.24 | -1433.85 | -1.69 | -39.67 | -148.53 | -1.54 | -33.91 | -129.85 | 0.00 | 0 | -100.0 | 0.00 | 100.0 | 100.0 | 13.01 | 105.85 | 1841.79 | 100.00 | 0.0 | 0.0 | -0.00 | 100.0 | 0 | 1027.86 | 83.81 | 827.67 |
| 22Q3 (15) | 98.73 | 23.09 | 9.87 | -1009.05 | -336.99 | -45765.91 | -908.73 | -448.22 | -63447.55 | -908.89 | -447.89 | -63458.74 | -1.21 | -132.69 | -12000.0 | -1.15 | -125.49 | -11400.0 | 0.00 | 0 | -100.0 | -500.00 | -400.0 | 0 | 6.32 | 55.28 | 474.55 | 100.00 | -33.33 | 0 | -16.67 | 66.67 | 0 | 559.21 | 530.66 | 762.58 |
| 22Q2 (14) | 80.21 | 16.38 | 24.86 | -230.91 | 37.88 | -13.85 | -165.76 | 41.11 | 33.2 | -165.89 | 41.06 | 33.14 | -0.52 | 22.39 | 37.35 | -0.51 | 23.88 | 37.8 | 0.00 | 0 | 0 | -100.00 | 66.67 | 50.0 | 4.07 | 457.53 | 230.89 | 150.00 | 12.5 | 100.0 | -50.00 | -50.0 | -300.0 | 88.67 | -69.92 | -46.13 |
| 22Q1 (13) | 68.92 | 74.35 | -12.54 | -371.73 | -206.15 | -1092.34 | -281.47 | -130.32 | -742.33 | -281.47 | -130.32 | -742.33 | -0.67 | 1.47 | -142.68 | -0.67 | 0.0 | -143.79 | 0.00 | -100.0 | -100.0 | -300.00 | -200.0 | -700.0 | 0.73 | 8.96 | -44.7 | 133.33 | 33.33 | 33.33 | -33.33 | 0 | -233.33 | 294.82 | 166.08 | 830.62 |
| 21Q4 (12) | 39.53 | -56.01 | -50.48 | -121.42 | -5419.09 | -392.02 | -122.21 | -8446.15 | -439.0 | -122.21 | -8446.15 | -439.0 | -0.68 | -6700.0 | -110.49 | -0.67 | -6600.0 | -112.16 | 0.01 | 0.0 | -93.33 | -100.00 | 0 | -339.98 | 0.67 | -39.09 | -95.79 | 100.00 | 0 | -20.0 | -0.00 | 0 | 100.0 | 110.80 | 70.91 | 485.62 |
| 21Q3 (11) | 89.86 | 39.88 | 109.37 | -2.20 | 98.92 | 95.73 | -1.43 | 99.42 | 97.41 | -1.43 | 99.42 | 97.41 | -0.01 | 98.8 | 99.88 | -0.01 | 98.78 | 99.85 | 0.01 | 0 | -91.67 | 0.00 | 100.0 | 100.0 | 1.10 | -10.57 | -94.56 | 0.00 | -100.0 | -100.0 | 0.00 | -100.0 | 0 | 64.83 | -60.62 | -26.18 |
| 21Q2 (10) | 64.24 | -18.48 | -19.18 | -202.82 | -641.43 | -1.51 | -248.13 | -666.25 | -25.67 | -248.13 | -666.25 | -25.67 | -0.83 | -152.87 | 89.85 | -0.82 | -153.59 | 87.96 | 0.00 | -100.0 | -100.0 | -200.00 | -500.0 | 0.0 | 1.23 | -6.82 | -94.41 | 75.00 | -25.0 | -25.0 | 25.00 | 0.0 | 0 | 164.61 | 419.6 | -23.19 |
| 21Q1 (9) | 78.80 | -1.29 | 12.17 | 37.46 | -9.91 | 230.43 | 43.82 | 21.55 | 252.36 | 43.82 | 21.55 | 252.36 | 1.57 | -75.77 | 148.31 | 1.53 | -72.23 | 156.46 | 0.03 | -80.0 | -66.67 | 50.00 | 19.99 | 325.02 | 1.32 | -91.71 | -92.46 | 100.00 | -20.0 | 0.0 | 25.00 | 200.0 | 0 | 31.68 | 67.44 | -58.04 |
| 20Q4 (8) | 79.83 | 86.0 | 11.96 | 41.58 | 180.61 | 127.96 | 36.05 | 165.27 | 122.63 | 36.05 | 165.27 | 122.63 | 6.48 | 178.26 | 186.52 | 5.51 | 180.79 | 188.3 | 0.15 | 25.0 | 275.0 | 41.67 | 183.34 | 133.34 | 15.93 | -21.22 | -21.95 | 125.00 | 50.0 | 25.0 | -25.00 | 0 | 0 | 18.92 | -78.46 | -89.15 |
| 20Q3 (7) | 42.92 | -46.01 | -34.84 | -51.58 | 74.18 | 69.88 | -55.23 | 72.03 | 67.33 | -55.23 | 72.03 | 73.89 | -8.28 | -1.22 | 9.51 | -6.82 | -0.15 | 14.64 | 0.12 | 300.0 | 200.0 | -50.00 | 75.0 | 66.67 | 20.22 | -8.13 | 7.67 | 83.33 | -16.67 | -16.67 | -0.00 | 0 | 0 | 87.82 | -59.02 | -50.17 |
| 20Q2 (6) | 79.49 | 13.15 | 11.25 | -199.80 | -595.68 | -126.2 | -197.44 | -586.51 | -159.04 | -197.44 | -586.51 | -230.94 | -8.18 | -151.69 | -128.49 | -6.81 | -151.29 | -106.36 | 0.03 | -66.67 | -50.0 | -200.00 | -800.09 | -199.99 | 22.01 | 25.7 | 118.35 | 100.00 | 0.0 | -20.0 | -0.00 | 0 | 100.0 | 214.30 | 183.84 | 75.21 |
| 20Q1 (5) | 70.25 | -1.47 | -1.08 | -28.72 | 80.69 | 57.9 | -28.76 | 81.94 | 48.07 | -28.76 | 81.94 | 37.45 | -3.25 | 56.61 | 6.07 | -2.71 | 56.57 | 16.1 | 0.09 | 125.0 | 28.57 | -22.22 | 82.22 | 61.11 | 17.51 | -14.21 | 164.9 | 100.00 | 0.0 | -20.0 | 0.00 | 0 | 100.0 | 75.50 | -56.71 | -26.47 |
| 19Q4 (4) | 71.30 | 8.24 | 0.0 | -148.73 | 13.14 | 0.0 | -159.28 | 5.78 | 0.0 | -159.28 | 24.69 | 0.0 | -7.49 | 18.14 | 0.0 | -6.24 | 21.9 | 0.0 | 0.04 | 0.0 | 0.0 | -125.00 | 16.67 | 0.0 | 20.41 | 8.68 | 0.0 | 100.00 | 0.0 | 0.0 | 0.00 | 0 | 0.0 | 174.39 | -1.04 | 0.0 |
| 19Q3 (3) | 65.87 | -7.81 | 0.0 | -171.22 | -93.84 | 0.0 | -169.05 | -121.79 | 0.0 | -211.49 | -254.49 | 0.0 | -9.15 | -155.59 | 0.0 | -7.99 | -142.12 | 0.0 | 0.04 | -33.33 | 0.0 | -150.00 | -124.99 | 0.0 | 18.78 | 86.31 | 0.0 | 100.00 | -20.0 | 0.0 | -0.00 | 100.0 | 0.0 | 176.23 | 44.08 | 0.0 |
| 19Q2 (2) | 71.45 | 0.61 | 0.0 | -88.33 | -29.48 | 0.0 | -76.22 | -37.63 | 0.0 | -59.66 | -29.75 | 0.0 | -3.58 | -3.47 | 0.0 | -3.30 | -2.17 | 0.0 | 0.06 | -14.29 | 0.0 | -66.67 | -16.68 | 0.0 | 10.08 | 52.5 | 0.0 | 125.00 | 0.0 | 0.0 | -25.00 | 0.0 | 0.0 | 122.31 | 19.12 | 0.0 |
| 19Q1 (1) | 71.02 | 0.0 | 0.0 | -68.22 | 0.0 | 0.0 | -55.38 | 0.0 | 0.0 | -45.98 | 0.0 | 0.0 | -3.46 | 0.0 | 0.0 | -3.23 | 0.0 | 0.0 | 0.07 | 0.0 | 0.0 | -57.14 | 0.0 | 0.0 | 6.61 | 0.0 | 0.0 | 125.00 | 0.0 | 0.0 | -25.00 | 0.0 | 0.0 | 102.68 | 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) | 48.55 | -40.66 | 30.36 | 0 | 2.75 | -96.34 | 31.47 | 0 | 22.38 | 0 | 9.44 | 0 | 6.65 | 0 | 0.30 | 2900.0 | 34.51 | 0 | 61.27 | 370.95 | 96.25 | -16.88 | 3.75 | 0 | 1.16 | -56.8 | 9.13 | -97.31 |
| 2022 (9) | 81.82 | 9.18 | -600.08 | 0 | 75.00 | 612.5 | -522.90 | 0 | -522.90 | 0 | -4.10 | 0 | -3.83 | 0 | 0.01 | -85.71 | -400.00 | 0 | 13.01 | 1841.79 | 115.79 | 15.79 | -15.79 | 0 | 2.69 | 0 | 339.54 | 443.96 |
| 2021 (8) | 74.94 | 12.96 | -15.14 | 0 | 10.53 | 78.95 | -15.59 | 0 | -15.59 | 0 | -1.09 | 0 | -1.05 | 0 | 0.07 | -82.05 | -5.26 | 0 | 0.67 | -95.79 | 100.00 | 11.11 | -0.00 | 0 | 0.00 | 0 | 62.42 | -12.67 |
| 2020 (7) | 66.34 | -5.55 | -25.86 | 0 | 5.88 | 23.53 | -28.70 | 0 | -28.70 | 0 | -13.15 | 0 | -11.04 | 0 | 0.39 | 85.71 | -23.53 | 0 | 15.93 | -21.95 | 90.00 | -17.83 | 10.00 | 0 | 0.00 | 0 | 71.48 | -47.03 |
| 2019 (6) | 70.24 | 1.06 | -107.71 | 0 | 4.76 | 338.1 | -101.36 | 0 | -101.36 | 0 | -23.66 | 0 | -20.82 | 0 | 0.21 | -73.75 | -90.48 | 0 | 20.41 | 160.0 | 109.52 | 36.9 | -4.76 | 0 | 0.00 | 0 | 134.95 | 214.94 |
| 2018 (5) | 69.50 | 19.07 | 12.92 | 0 | 1.09 | -44.57 | 16.16 | 0 | 17.06 | 0 | 16.87 | 0 | 13.66 | 0 | 0.80 | 90.48 | 23.91 | 0 | 7.85 | -81.35 | 80.00 | -22.67 | 20.00 | 0 | 0.00 | 0 | 42.85 | -49.9 |
| 2017 (4) | 58.37 | 11.44 | -59.23 | 0 | 1.96 | 0.0 | -56.25 | 0 | -56.72 | 0 | -29.38 | 0 | -23.72 | 0 | 0.42 | 13.51 | -43.14 | 0 | 42.08 | 336.97 | 103.45 | 0 | -6.90 | 0 | 0.00 | 0 | 85.53 | -27.99 |
| 2016 (3) | 52.38 | -17.52 | -108.41 | 0 | 1.96 | 0 | 3.66 | 0 | -8.17 | 0 | -3.62 | 0 | -2.85 | 0 | 0.37 | -17.78 | 15.69 | 0 | 9.63 | -66.76 | -2750.00 | 0 | 2850.00 | 0 | 0.00 | 0 | 118.78 | 34.98 |
| 2015 (2) | 63.51 | 0.14 | -51.07 | 0 | 0.00 | 0 | -46.08 | 0 | -40.01 | 0 | -22.12 | 0 | -17.68 | 0 | 0.45 | -2.17 | -44.59 | 0 | 28.97 | 46.17 | 111.76 | 22.58 | -11.76 | 0 | 0.00 | 0 | 88.00 | 24.28 |
| 2014 (1) | 63.42 | 0 | -35.84 | 0 | 1.18 | -8.24 | -39.37 | 0 | -38.59 | 0 | -20.24 | 0 | -17.70 | 0 | 0.46 | 15.0 | -37.65 | 0 | 19.82 | 134.0 | 91.18 | 1.7 | 8.82 | -14.71 | 0.00 | 0 | 70.81 | 7.16 |
