- 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) | 25.03 | 6.78 | 35.08 | 6.18 | 157.5 | 24.1 | 2.32 | -74.97 | 727.03 | 2.06 | -76.59 | 242.07 | 0.64 | -77.06 | 218.52 | 0.52 | -74.63 | 262.5 | 0.23 | 0.0 | -8.0 | 3.81 | -63.99 | 348.24 | 31.72 | -14.73 | -30.27 | 350.00 | 1066.67 | 0 | -200.00 | -385.71 | 0 | 13.26 | -22.41 | 67.64 |
| 23Q3 (19) | 23.44 | -5.86 | 11.35 | 2.40 | -63.86 | -36.84 | 9.27 | -1.7 | 49.04 | 8.80 | 2.33 | 71.54 | 2.79 | -8.22 | 14.34 | 2.05 | -9.29 | 21.3 | 0.23 | -11.54 | -28.12 | 10.58 | 1.44 | 42.4 | 37.20 | -6.58 | -17.64 | 30.00 | -58.75 | -55.0 | 70.00 | 156.67 | 57.5 | 17.09 | 16.58 | 15.71 |
| 23Q2 (18) | 24.90 | 3.06 | 42.12 | 6.64 | 57.35 | 31.49 | 9.43 | 108.63 | 57.69 | 8.60 | 196.55 | 66.67 | 3.04 | 210.2 | -12.64 | 2.26 | 201.33 | -2.59 | 0.26 | 8.33 | -40.91 | 10.43 | 87.59 | 59.72 | 39.82 | 12.45 | -26.6 | 72.73 | -27.27 | -12.73 | 27.27 | 0 | 63.64 | 14.66 | -10.94 | 22.99 |
| 23Q1 (17) | 24.16 | 30.38 | 40.63 | 4.22 | -15.26 | 2382.35 | 4.52 | 1321.62 | -28.03 | 2.90 | 300.0 | -45.9 | 0.98 | 281.48 | -62.45 | 0.75 | 334.38 | -57.87 | 0.24 | -4.0 | -27.27 | 5.56 | 554.12 | -22.13 | 35.41 | -22.16 | -29.45 | 100.00 | 0 | 0 | 0.00 | 0 | -100.0 | 16.46 | 108.09 | 4.64 |
| 22Q4 (16) | 18.53 | -11.97 | 13.19 | 4.98 | 31.05 | 116.52 | -0.37 | -105.95 | -110.82 | -1.45 | -128.27 | -148.33 | -0.54 | -122.13 | -125.47 | -0.32 | -118.93 | -122.07 | 0.25 | -21.88 | -45.65 | 0.85 | -88.56 | -81.07 | 45.49 | 0.71 | -8.05 | 0.00 | -100.0 | -100.0 | 0.00 | -100.0 | -100.0 | 7.91 | -46.45 | -30.12 |
| 22Q3 (15) | 21.05 | 20.15 | -0.89 | 3.80 | -24.75 | 1074.36 | 6.22 | 4.01 | 2588.0 | 5.13 | -0.58 | 1810.0 | 2.44 | -29.89 | 2318.18 | 1.69 | -27.16 | 4325.0 | 0.32 | -27.27 | 28.0 | 7.43 | 13.78 | 485.04 | 45.17 | -16.74 | -19.37 | 66.67 | -20.0 | 0 | 44.44 | 166.67 | 0 | 14.77 | 23.91 | -27.88 |
| 22Q2 (14) | 17.52 | 1.98 | -12.88 | 5.05 | 2870.59 | 216.09 | 5.98 | -4.78 | 205.28 | 5.16 | -3.73 | 181.0 | 3.48 | 33.33 | 291.21 | 2.32 | 30.34 | 279.84 | 0.44 | 33.33 | 109.52 | 6.53 | -8.54 | 232.72 | 54.25 | 8.09 | 29.47 | 83.33 | 0 | -16.67 | 16.67 | -83.33 | -50.0 | 11.92 | -24.22 | -50.58 |
| 22Q1 (13) | 17.18 | 4.95 | -29.82 | 0.17 | -92.61 | -96.08 | 6.28 | 83.63 | 225.39 | 5.36 | 78.67 | 230.86 | 2.61 | 23.11 | 552.5 | 1.78 | 22.76 | 456.25 | 0.33 | -28.26 | 83.33 | 7.14 | 59.02 | 92.97 | 50.19 | 1.46 | 39.61 | 0.00 | -100.0 | -100.0 | 100.00 | 200.0 | 200.0 | 15.73 | 38.96 | -36.52 |
| 21Q4 (12) | 16.37 | -22.93 | -29.89 | 2.30 | 689.74 | 134.02 | 3.42 | 1468.0 | -83.22 | 3.00 | 1100.0 | -85.33 | 2.12 | 2027.27 | -60.59 | 1.45 | 3725.0 | -64.46 | 0.46 | 84.0 | 130.0 | 4.49 | 253.54 | -79.42 | 49.47 | -11.69 | 40.9 | 66.67 | 0 | 283.33 | 33.33 | 0 | -75.56 | 11.32 | -44.73 | -54.59 |
| 21Q3 (11) | 21.24 | 5.62 | -8.84 | -0.39 | 91.03 | 97.07 | -0.25 | 95.6 | 96.6 | -0.30 | 95.29 | 95.95 | -0.11 | 93.96 | 92.67 | -0.04 | 96.9 | 96.55 | 0.25 | 19.05 | 56.25 | 1.27 | 125.81 | 126.68 | 56.02 | 33.7 | 87.3 | 0.00 | -100.0 | -100.0 | 0.00 | -100.0 | 100.0 | 20.48 | -15.09 | -31.55 |
| 21Q2 (10) | 20.11 | -17.85 | -29.83 | -4.35 | -200.23 | -243.56 | -5.68 | -394.3 | -637.66 | -6.37 | -493.21 | -658.33 | -1.82 | -555.0 | -727.27 | -1.29 | -503.12 | -658.82 | 0.21 | 16.67 | -8.7 | -4.92 | -232.97 | -386.05 | 41.90 | 16.55 | 77.54 | 100.00 | -50.0 | 0 | 33.33 | 133.33 | 0 | 24.12 | -2.66 | 0 |
| 21Q1 (9) | 24.48 | 4.84 | 2.47 | 4.34 | 164.2 | 149.04 | 1.93 | -90.53 | 60.83 | 1.62 | -92.08 | 1.89 | 0.40 | -92.57 | 122.22 | 0.32 | -92.16 | 113.33 | 0.18 | -10.0 | 38.46 | 3.70 | -83.04 | 22.11 | 35.95 | 2.39 | 51.3 | 200.00 | 650.0 | 0 | -100.00 | -173.33 | 0 | 24.78 | -0.6 | -7.98 |
| 20Q4 (8) | 23.35 | 0.21 | 7.36 | -6.76 | 49.13 | 54.84 | 20.38 | 376.9 | 53.93 | 20.45 | 375.98 | 59.27 | 5.38 | 458.67 | 55.04 | 4.08 | 451.72 | 47.83 | 0.20 | 25.0 | -4.76 | 21.82 | 558.4 | 39.07 | 35.11 | 17.39 | 22.42 | -36.36 | -118.18 | 68.18 | 136.36 | 304.55 | -31.82 | 24.93 | -16.68 | -16.84 |
| 20Q3 (7) | 23.30 | -18.7 | -10.52 | -13.29 | -538.61 | -195.99 | -7.36 | -855.84 | 36.22 | -7.41 | -782.14 | 34.89 | -1.50 | -581.82 | 51.77 | -1.16 | -582.35 | 54.33 | 0.16 | -30.43 | -27.27 | -4.76 | -376.74 | 51.43 | 29.91 | 26.74 | 29.59 | 200.00 | 0 | 500.0 | -66.67 | 0 | -200.0 | 29.92 | 0 | 8.96 |
| 20Q2 (6) | 28.66 | 19.97 | 128.37 | 3.03 | 134.24 | 104.07 | -0.77 | -164.17 | -100.35 | -0.84 | -152.83 | -100.57 | -0.22 | -222.22 | -100.47 | -0.17 | -213.33 | -100.51 | 0.23 | 76.92 | 0.0 | 1.72 | -43.23 | -99.23 | 23.60 | -0.67 | 6.84 | 0.00 | 0 | 100.0 | 0.00 | 0 | -100.0 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 23.89 | 9.84 | -13.25 | -8.85 | 40.88 | -26.79 | 1.20 | -90.94 | -24.53 | 1.59 | -87.62 | -25.7 | 0.18 | -94.81 | -78.57 | 0.15 | -94.57 | -70.0 | 0.13 | -38.1 | -40.91 | 3.03 | -80.69 | -31.76 | 23.76 | -17.15 | -64.63 | 0.00 | 100.0 | 100.0 | 0.00 | -100.0 | -100.0 | 26.93 | -10.17 | -13.55 |
| 19Q4 (4) | 21.75 | -16.47 | 0.0 | -14.97 | -233.41 | 0.0 | 13.24 | 214.73 | 0.0 | 12.84 | 212.83 | 0.0 | 3.47 | 211.58 | 0.0 | 2.76 | 208.66 | 0.0 | 0.21 | -4.55 | 0.0 | 15.69 | 260.1 | 0.0 | 28.68 | 24.26 | 0.0 | -114.29 | -442.86 | 0.0 | 200.00 | 200.0 | 0.0 | 29.98 | 9.18 | 0.0 |
| 19Q3 (3) | 26.04 | 107.49 | 0.0 | -4.49 | 93.97 | 0.0 | -11.54 | -105.25 | 0.0 | -11.38 | -107.76 | 0.0 | -3.11 | -106.67 | 0.0 | -2.54 | -107.59 | 0.0 | 0.22 | -4.35 | 0.0 | -9.80 | -104.4 | 0.0 | 23.08 | 4.48 | 0.0 | 33.33 | 198.15 | 0.0 | 66.67 | -50.23 | 0.0 | 27.46 | -24.97 | 0.0 |
| 19Q2 (2) | 12.55 | -54.43 | 0.0 | -74.51 | -967.48 | 0.0 | 219.68 | 13716.35 | 0.0 | 146.61 | 6750.93 | 0.0 | 46.61 | 5448.81 | 0.0 | 33.47 | 6594.0 | 0.0 | 0.23 | 4.55 | 0.0 | 222.92 | 4920.72 | 0.0 | 22.09 | -67.12 | 0.0 | -33.96 | 88.68 | 0.0 | 133.96 | -66.51 | 0.0 | 36.60 | 17.5 | 0.0 |
| 19Q1 (1) | 27.54 | 0.0 | 0.0 | -6.98 | 0.0 | 0.0 | 1.59 | 0.0 | 0.0 | 2.14 | 0.0 | 0.0 | 0.84 | 0.0 | 0.0 | 0.50 | 0.0 | 0.0 | 0.22 | 0.0 | 0.0 | 4.44 | 0.0 | 0.0 | 67.18 | 0.0 | 0.0 | -300.00 | 0.0 | 0.0 | 400.00 | 0.0 | 0.0 | 31.15 | 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) | 24.39 | 31.84 | 4.90 | 36.11 | 0.69 | 40.05 | 6.43 | 32.3 | 5.63 | 43.99 | 7.37 | -5.15 | 5.50 | 0.73 | 0.95 | -29.63 | 7.87 | 35.92 | 31.72 | -30.27 | 75.00 | -1.14 | 25.00 | -9.37 | 6.05 | -2.1 | 15.36 | 20.85 |
| 2022 (9) | 18.50 | -3.6 | 3.60 | 287.1 | 0.50 | -38.68 | 4.86 | 422.58 | 3.91 | 598.21 | 7.77 | 825.0 | 5.46 | 669.01 | 1.35 | 29.81 | 5.79 | 168.06 | 45.49 | -8.05 | 75.86 | -24.14 | 27.59 | 0 | 6.18 | -15.03 | 12.71 | -26.57 |
| 2021 (8) | 19.19 | -23.48 | 0.93 | 0 | 0.81 | -61.99 | 0.93 | -78.52 | 0.56 | -87.21 | 0.84 | -78.07 | 0.71 | -76.09 | 1.04 | 55.22 | 2.16 | -66.14 | 49.47 | 40.9 | 100.00 | 0 | 0.00 | 0 | 7.28 | 0 | 17.31 | -33.86 |
| 2020 (7) | 25.08 | 14.36 | -5.54 | 0 | 2.13 | 4.26 | 4.33 | -92.13 | 4.38 | -88.18 | 3.83 | -91.48 | 2.97 | -90.17 | 0.67 | -17.28 | 6.38 | -88.83 | 35.11 | 22.42 | -125.00 | 0 | 237.50 | 63.38 | 0.00 | 0 | 26.17 | -16.2 |
| 2019 (6) | 21.93 | 14.4 | -25.08 | 0 | 2.04 | 67.35 | 55.01 | 0 | 37.05 | 0 | 44.93 | 0 | 30.21 | 0 | 0.81 | -20.59 | 57.14 | 0 | 28.68 | -66.19 | -45.37 | 0 | 145.37 | 0 | 0.00 | 0 | 31.23 | 13.89 |
| 2018 (5) | 19.17 | 0.52 | -9.80 | 0 | 1.22 | -12.5 | -7.57 | 0 | -8.38 | 0 | -16.05 | 0 | -8.01 | 0 | 1.02 | 10.87 | -5.69 | 0 | 84.82 | -8.75 | 126.32 | 68.42 | -26.32 | 0 | 0.00 | 0 | 27.42 | 10.7 |
| 2017 (4) | 19.07 | 0 | -9.49 | 0 | 1.39 | -21.78 | -12.54 | 0 | -20.64 | 0 | -43.08 | 0 | -18.23 | 0 | 0.92 | 46.03 | -10.10 | 0 | 92.95 | -42.08 | 75.00 | -19.21 | 25.00 | 262.04 | 0.00 | 0 | 24.77 | -5.71 |
| 2016 (3) | -4.58 | 0 | -80.88 | 0 | 1.78 | 36.6 | -86.97 | 0 | -101.11 | 0 | -108.03 | 0 | -54.22 | 0 | 0.63 | -40.0 | -83.96 | 0 | 160.48 | 94.97 | 92.84 | 7.89 | 6.91 | -50.51 | 0.00 | 0 | 26.27 | 65.12 |
| 2015 (2) | 13.68 | 31.92 | -3.18 | 0 | 1.30 | -23.2 | -3.74 | 0 | -12.13 | 0 | -7.30 | 0 | -3.42 | 0 | 1.05 | -20.45 | -1.74 | 0 | 82.31 | 3.35 | 86.05 | -13.95 | 13.95 | 0 | 0.00 | 0 | 15.91 | 26.77 |
| 2014 (1) | 10.37 | 0 | -3.76 | 0 | 1.70 | -25.4 | -3.74 | 0 | -3.86 | 0 | -10.78 | 0 | -4.01 | 0 | 1.32 | 14.78 | -1.09 | 0 | 79.64 | -49.42 | 100.00 | -47.19 | -0.00 | 0 | 0.00 | 0 | 12.55 | -52.04 |
