- 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) | 17.56 | 1.04 | -19.89 | 5.08 | 243.1 | 229.26 | 40.76 | 894.54 | 11422.22 | 40.76 | 894.54 | 11422.22 | 10.58 | 1806.45 | 11855.56 | 9.49 | 1825.45 | 13657.14 | 0.23 | 109.09 | 21.05 | 43.48 | 0 | 0 | 10.43 | -18.39 | -16.69 | 10.00 | 0 | 0 | 80.00 | 0 | 0 | 6.83 | -26.48 | -53.19 |
| 23Q3 (19) | 17.38 | -12.66 | -7.01 | -3.55 | -179.78 | 50.97 | -5.13 | -211.76 | 68.45 | -5.13 | -211.76 | 68.45 | -0.62 | -196.88 | 95.89 | -0.55 | -198.21 | 90.98 | 0.11 | -8.33 | -71.05 | 0.00 | -100.0 | 100.0 | 12.78 | 8.4 | -92.56 | -0.00 | -100.0 | -100.0 | -0.00 | 0 | -100.0 | 9.29 | 1.98 | -38.56 |
| 23Q2 (18) | 19.90 | -1.39 | 7.16 | 4.45 | 135.04 | 111.23 | 4.59 | 140.37 | 110.4 | 4.59 | 140.37 | 110.4 | 0.64 | 163.37 | 103.34 | 0.56 | 163.64 | 106.23 | 0.12 | 50.0 | -40.0 | 8.33 | 166.64 | 120.83 | 11.79 | -26.77 | -90.6 | 100.00 | 0.0 | 0.0 | 0.00 | 0 | 0 | 9.11 | -48.91 | -66.42 |
| 23Q1 (17) | 20.18 | -7.94 | -7.85 | -12.70 | -223.16 | -714.1 | -11.37 | -3058.33 | -186.4 | -11.37 | -3058.33 | -186.4 | -1.01 | -1022.22 | 66.67 | -0.88 | -1157.14 | 41.72 | 0.08 | -57.89 | -78.95 | -12.50 | 0 | 0 | 16.10 | 28.59 | -84.34 | 100.00 | 0 | 0 | -0.00 | 0 | 0 | 17.83 | 22.21 | 28.55 |
| 22Q4 (16) | 21.92 | 17.28 | 0.78 | -3.93 | 45.72 | -164.01 | -0.36 | 97.79 | -105.78 | -0.36 | 97.79 | -105.78 | -0.09 | 99.4 | -101.08 | -0.07 | 98.85 | -101.64 | 0.19 | -50.0 | -72.06 | 0.00 | 100.0 | -100.0 | 12.52 | -92.71 | -86.96 | 0.00 | -100.0 | -100.0 | 0.00 | -100.0 | 0 | 14.59 | -3.51 | 48.27 |
| 22Q3 (15) | 18.69 | 0.65 | -4.69 | -7.24 | 81.74 | 58.39 | -16.26 | 63.17 | 1.51 | -16.26 | 63.17 | 1.51 | -15.08 | 21.34 | -44.58 | -6.10 | 32.15 | -8.35 | 0.38 | 90.0 | 11.76 | -11.11 | 72.23 | 11.12 | 171.68 | 36.95 | 81.15 | 100.00 | 0.0 | 0.0 | 100.00 | 0 | 0 | 15.12 | -44.27 | -13.1 |
| 22Q2 (14) | 18.57 | -15.21 | -12.36 | -39.64 | -2441.03 | 27.91 | -44.15 | -1012.09 | 20.68 | -44.15 | -1012.09 | 20.68 | -19.17 | -532.67 | -38.81 | -8.99 | -495.36 | -5.39 | 0.20 | -47.37 | 33.33 | -40.00 | 0 | 40.0 | 125.36 | 21.9 | 65.25 | 100.00 | 0 | 0.0 | -0.00 | 0 | 0 | 27.13 | 95.6 | -29.84 |
| 22Q1 (13) | 21.90 | 0.69 | 7.88 | -1.56 | -125.41 | 96.37 | -3.97 | -163.72 | 90.66 | -3.97 | -163.72 | 90.66 | -3.03 | -136.37 | 70.75 | -1.51 | -135.36 | 78.37 | 0.38 | -44.12 | 137.5 | 0.00 | -100.0 | 100.0 | 102.84 | 7.11 | 108.39 | 0.00 | -100.0 | -100.0 | 0.00 | 0 | 0 | 13.87 | 40.96 | -60.29 |
| 21Q4 (12) | 21.75 | 10.91 | 22.95 | 6.14 | 135.29 | 149.88 | 6.23 | 137.73 | 143.08 | 6.23 | 137.73 | 143.08 | 8.33 | 179.87 | 244.12 | 4.27 | 175.84 | 208.38 | 0.68 | 100.0 | 151.85 | 6.25 | 150.0 | 143.74 | 96.01 | 1.31 | 103.32 | 100.00 | 0.0 | 0.0 | 0.00 | 0 | 0 | 9.84 | -43.45 | -49.72 |
| 21Q3 (11) | 19.61 | -7.46 | -9.25 | -17.40 | 68.36 | -133.24 | -16.51 | 70.34 | -96.55 | -16.51 | 70.34 | -96.55 | -10.43 | 24.48 | -145.99 | -5.63 | 34.0 | -94.14 | 0.34 | 126.67 | -2.86 | -12.50 | 81.25 | -12.51 | 94.77 | 24.93 | 107.37 | 100.00 | 0.0 | 0.0 | -0.00 | 0 | 0 | 17.40 | -55.0 | 18.05 |
| 21Q2 (10) | 21.19 | 4.38 | 0.24 | -54.99 | -28.06 | -40.75 | -55.66 | -30.93 | -44.95 | -55.66 | -30.93 | -44.95 | -13.81 | -33.3 | -20.51 | -8.53 | -22.21 | -6.36 | 0.15 | -6.25 | -28.57 | -66.67 | -166.68 | -100.03 | 75.86 | 53.72 | 68.95 | 100.00 | 0.0 | 0.0 | -0.00 | 0 | 0 | 38.67 | 10.71 | 0 |
| 21Q1 (9) | 20.30 | 14.75 | 55.32 | -42.94 | -248.82 | 71.05 | -42.51 | -193.98 | 71.64 | -42.51 | -193.98 | 71.64 | -10.36 | -79.24 | 48.41 | -6.98 | -77.16 | 44.07 | 0.16 | -40.74 | 100.0 | -25.00 | -74.95 | 83.33 | 49.35 | 4.51 | 20.96 | 100.00 | 0.0 | 0.0 | -0.00 | 0 | 0 | 34.93 | 78.49 | -65.96 |
| 20Q4 (8) | 17.69 | -18.14 | -56.99 | -12.31 | -65.01 | 81.6 | -14.46 | -72.14 | 83.02 | -14.46 | -72.14 | 83.02 | -5.78 | -36.32 | 84.6 | -3.94 | -35.86 | 80.46 | 0.27 | -22.86 | 12.5 | -14.29 | -28.62 | 85.71 | 47.22 | 3.33 | -56.82 | 100.00 | 0.0 | 33.33 | -0.00 | 0 | -100.0 | 19.57 | 32.77 | 0 |
| 20Q3 (7) | 21.61 | 2.22 | 980.5 | -7.46 | 80.91 | 94.07 | -8.40 | 78.12 | 92.8 | -8.40 | 78.12 | 92.8 | -4.24 | 63.0 | 87.9 | -2.90 | 63.84 | 83.53 | 0.35 | 66.67 | 133.33 | -11.11 | 66.67 | 88.89 | 45.70 | 1.78 | -34.84 | 100.00 | 0.0 | 0.0 | -0.00 | 0 | 0 | 14.74 | 0 | -82.94 |
| 20Q2 (6) | 21.14 | 61.74 | 234.49 | -39.07 | 73.66 | 64.94 | -38.40 | 74.38 | -142.65 | -38.40 | 74.38 | -142.65 | -11.46 | 42.93 | -119.49 | -8.02 | 35.74 | -150.73 | 0.21 | 162.5 | 16.67 | -33.33 | 77.78 | -133.33 | 44.90 | 10.05 | -72.63 | 100.00 | 0.0 | 166.67 | -0.00 | 0 | -100.0 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 13.07 | -68.22 | 563.45 | -148.35 | -121.78 | 8.26 | -149.87 | -75.97 | 8.88 | -149.87 | -75.97 | 8.88 | -20.08 | 46.51 | 76.44 | -12.48 | 38.1 | 46.55 | 0.08 | -66.67 | -42.86 | -150.00 | -50.0 | -12.5 | 40.80 | -62.69 | -91.34 | 100.00 | 33.33 | 0.0 | 0.00 | -100.0 | 0 | 102.62 | 0 | 5.38 |
| 19Q4 (4) | 41.13 | 1956.5 | 0.0 | -66.89 | 46.79 | 0.0 | -85.17 | 27.01 | 0.0 | -85.17 | 27.01 | 0.0 | -37.54 | -7.17 | 0.0 | -20.16 | -14.48 | 0.0 | 0.24 | 60.0 | 0.0 | -100.00 | 0.0 | 0.0 | 109.35 | 55.92 | 0.0 | 75.00 | -25.0 | 0.0 | 25.00 | 0 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 2.00 | -68.35 | 0.0 | -125.72 | -12.81 | 0.0 | -116.69 | -229.61 | 0.0 | -116.69 | -229.61 | 0.0 | -35.03 | -159.58 | 0.0 | -17.61 | -211.39 | 0.0 | 0.15 | -16.67 | 0.0 | -100.00 | -200.0 | 0.0 | 70.13 | -57.25 | 0.0 | 100.00 | 166.67 | 0.0 | -0.00 | -100.0 | 0.0 | 86.39 | 38.07 | 0.0 |
| 19Q2 (2) | 6.32 | 220.81 | 0.0 | -111.44 | 31.08 | 0.0 | 90.03 | 154.74 | 0.0 | 90.03 | 154.74 | 0.0 | 58.79 | 168.99 | 0.0 | 15.81 | 167.71 | 0.0 | 0.18 | 28.57 | 0.0 | 100.00 | 175.0 | 0.0 | 164.06 | -65.19 | 0.0 | -150.00 | -250.0 | 0.0 | 250.00 | 0 | 0.0 | 62.57 | -35.75 | 0.0 |
| 19Q1 (1) | 1.97 | 0.0 | 0.0 | -161.70 | 0.0 | 0.0 | -164.47 | 0.0 | 0.0 | -164.47 | 0.0 | 0.0 | -85.22 | 0.0 | 0.0 | -23.35 | 0.0 | 0.0 | 0.14 | 0.0 | 0.0 | -133.33 | 0.0 | 0.0 | 471.26 | 0.0 | 0.0 | 100.00 | 0.0 | 0.0 | 0.00 | 0.0 | 0.0 | 97.38 | 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) | 18.42 | -10.71 | 0.72 | 0 | 0.00 | 0 | 16.29 | 0 | 16.29 | 0 | 9.59 | 0 | 8.61 | 0 | 0.53 | -5.36 | 16.67 | 0 | 10.43 | -16.69 | 0.00 | 0 | 88.89 | 255.56 | 0.00 | 0 | 9.39 | -42.36 |
| 2022 (9) | 20.63 | -1.67 | -9.14 | 0 | 0.00 | 0 | -11.54 | 0 | -11.54 | 0 | -7.96 | 0 | -6.46 | 0 | 0.56 | -55.91 | -8.82 | 0 | 12.52 | -86.96 | 75.00 | -25.0 | 25.00 | 0 | 0.00 | 0 | 16.29 | -9.3 |
| 2021 (8) | 20.98 | 6.71 | -12.42 | 0 | 0.00 | 0 | -12.18 | 0 | -12.18 | 0 | -26.16 | 0 | -15.50 | 0 | 1.27 | 12.39 | -9.68 | 0 | 96.01 | 103.32 | 100.00 | 0.0 | -0.00 | 0 | 0.00 | 0 | 17.96 | -36.11 |
| 2020 (7) | 19.66 | 14.77 | -28.20 | 0 | 0.00 | 0 | -29.14 | 0 | -29.14 | 0 | -55.10 | 0 | -32.72 | 0 | 1.13 | 71.21 | -26.09 | 0 | 47.22 | -56.82 | 100.00 | -30.77 | -0.00 | 0 | 0.00 | 0 | 28.11 | -61.54 |
| 2019 (6) | 17.13 | 0 | -108.86 | 0 | 0.00 | 0 | -70.74 | 0 | -70.74 | 0 | -113.35 | 0 | -46.61 | 0 | 0.66 | 60.98 | -66.67 | 0 | 109.35 | -39.72 | 144.44 | 30.0 | -55.56 | 0 | 0.00 | 0 | 73.08 | -23.65 |
| 2018 (5) | -63.19 | 0 | -252.76 | 0 | 0.00 | 0 | -232.59 | 0 | -232.59 | 0 | -315.90 | 0 | -95.23 | 0 | 0.41 | 310.0 | -225.00 | 0 | 181.39 | -41.74 | 111.11 | -19.75 | -11.11 | 0 | 10.00 | -5.0 | 95.72 | -49.69 |
| 2017 (4) | -333.36 | 0 | -847.20 | 0 | 50.00 | 375.0 | -617.10 | 0 | -617.10 | 0 | -287.14 | 0 | -62.27 | 0 | 0.10 | -75.61 | -600.00 | 0 | 311.36 | -23.84 | 138.46 | 14.59 | -38.46 | 0 | 10.53 | 0 | 190.26 | 1016.55 |
| 2016 (3) | -70.20 | 0 | -151.84 | 0 | 10.53 | 191.23 | -122.46 | 0 | -122.43 | 0 | -205.25 | 0 | -50.65 | 0 | 0.41 | -34.92 | -110.53 | 0 | 408.81 | 47.57 | 120.83 | -15.2 | -25.00 | 0 | 0.00 | 0 | 17.04 | -63.32 |
| 2015 (2) | 23.90 | 499.0 | -69.09 | 0 | 3.61 | -48.67 | -48.60 | 0 | -72.36 | 0 | -191.96 | 0 | -45.21 | 0 | 0.63 | -4.55 | -43.37 | 0 | 277.03 | -18.72 | 142.50 | 47.54 | -42.50 | 0 | 0.00 | 0 | 46.45 | 24.76 |
| 2014 (1) | 3.99 | 0 | -79.61 | 0 | 7.04 | 29.28 | -82.54 | 0 | -99.89 | 0 | -196.01 | 0 | -65.14 | 0 | 0.66 | -8.33 | -72.54 | 0 | 340.85 | 155.41 | 96.58 | -9.77 | 3.42 | 0 | 0.00 | 0 | 37.23 | 9.11 |
