- 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) | 15.85 | 16.12 | -6.43 | 1.67 | 167.89 | 156.8 | -0.36 | -228.57 | 91.59 | -0.50 | -213.64 | 80.0 | -0.19 | -211.76 | 80.61 | 0.04 | -78.95 | 112.12 | 0.18 | -5.26 | 5.88 | 6.81 | 5.75 | 168.11 | 121.33 | 10.55 | -11.17 | -475.00 | 49.11 | -778.57 | 575.00 | -44.35 | 1669.23 | 15.08 | -29.96 | -29.47 |
| 23Q3 (19) | 13.65 | 20.16 | -20.5 | -2.46 | 45.58 | 16.04 | 0.28 | 460.0 | -92.57 | 0.44 | -33.33 | -85.48 | 0.17 | -32.0 | -85.47 | 0.19 | -20.83 | -69.84 | 0.19 | 5.56 | 18.75 | 6.44 | -2.87 | -40.75 | 109.75 | 0.32 | -19.61 | -933.33 | 79.71 | -1109.88 | 1033.33 | -78.01 | 483.33 | 21.53 | -19.93 | -5.65 |
| 23Q2 (18) | 11.36 | -23.04 | -23.81 | -4.52 | -22500.0 | -26.61 | 0.05 | 113.51 | 106.94 | 0.66 | 69.23 | 450.0 | 0.25 | 56.25 | 400.0 | 0.24 | 20.0 | 71.43 | 0.18 | -5.26 | 0.0 | 6.63 | 8.69 | 16.93 | 109.40 | -10.2 | -22.2 | -4600.00 | 0 | -970.27 | 4700.00 | 4600.0 | 1234.48 | 26.89 | 72.15 | 27.02 |
| 23Q1 (17) | 14.76 | -12.87 | 0.68 | -0.02 | 99.32 | 99.49 | -0.37 | 91.36 | -127.21 | 0.39 | 115.6 | -66.67 | 0.16 | 116.33 | -64.44 | 0.20 | 160.61 | -33.33 | 0.19 | 11.76 | 18.75 | 6.10 | 140.16 | -25.61 | 121.83 | -10.8 | -16.51 | -0.00 | -100.0 | 100.0 | 100.00 | 207.69 | -73.47 | 15.62 | -26.94 | -31.19 |
| 22Q4 (16) | 16.94 | -1.34 | -11.63 | -2.94 | -0.34 | -712.5 | -4.28 | -213.53 | -268.97 | -2.50 | -182.51 | -1288.89 | -0.98 | -183.76 | -1300.0 | -0.33 | -152.38 | -1750.0 | 0.17 | 6.25 | 21.43 | 2.54 | -76.63 | -50.87 | 136.58 | 0.04 | -5.64 | 70.00 | 190.74 | 275.0 | 32.50 | -81.65 | -76.79 | 21.38 | -6.31 | -4.81 |
| 22Q3 (15) | 17.17 | 15.16 | -1.38 | -2.93 | 17.93 | -551.11 | 3.77 | 623.61 | 514.29 | 3.03 | 2425.0 | 545.59 | 1.17 | 2240.0 | 550.0 | 0.63 | 350.0 | 6200.0 | 0.16 | -11.11 | 6.67 | 10.87 | 91.71 | 80.56 | 136.53 | -2.9 | -13.17 | -77.14 | -114.59 | -254.29 | 177.14 | 142.76 | 254.29 | 22.82 | 7.79 | 1.92 |
| 22Q2 (14) | 14.91 | 1.71 | -21.19 | -3.57 | 9.62 | -501.12 | -0.72 | -152.94 | 74.47 | 0.12 | -89.74 | 106.19 | 0.05 | -88.89 | 107.58 | 0.14 | -53.33 | 173.68 | 0.18 | 12.5 | 20.0 | 5.67 | -30.85 | 16.91 | 140.61 | -3.64 | -3.74 | 528.57 | 285.71 | 1685.71 | -414.29 | -209.91 | -420.74 | 21.17 | -6.74 | -11.9 |
| 22Q1 (13) | 14.66 | -23.53 | -33.79 | -3.95 | -922.92 | -179.16 | 1.36 | 217.24 | -71.84 | 1.17 | 750.0 | -66.67 | 0.45 | 742.86 | -67.15 | 0.30 | 1400.0 | -58.9 | 0.16 | 14.29 | -11.11 | 8.20 | 58.61 | -28.57 | 145.92 | 0.81 | 21.84 | -284.62 | -611.54 | -378.81 | 376.92 | 169.23 | 9146.15 | 22.70 | 1.07 | 8.2 |
| 21Q4 (12) | 19.17 | 10.11 | -0.93 | 0.48 | 206.67 | -90.14 | -1.16 | -27.47 | -144.27 | -0.18 | 73.53 | -107.69 | -0.07 | 73.08 | -106.48 | 0.02 | 100.0 | -96.77 | 0.14 | -6.67 | -36.36 | 5.17 | -14.12 | -34.39 | 144.75 | -7.94 | 28.62 | -40.00 | -180.0 | -121.82 | 140.00 | 180.0 | 261.54 | 22.46 | 0.31 | 128.95 |
| 21Q3 (11) | 17.41 | -7.98 | -19.14 | -0.45 | -150.56 | -105.75 | -0.91 | 67.73 | -114.77 | -0.68 | 64.95 | -114.53 | -0.26 | 60.61 | -110.83 | 0.01 | 105.26 | -99.21 | 0.15 | 0.0 | -37.5 | 6.02 | 24.12 | -46.54 | 157.24 | 7.64 | 47.68 | 50.00 | 250.0 | -60.56 | 50.00 | -61.29 | 286.84 | 22.39 | -6.82 | 30.78 |
| 21Q2 (10) | 18.92 | -14.54 | -3.47 | 0.89 | -82.16 | 124.38 | -2.82 | -158.39 | -1075.0 | -1.94 | -155.27 | -235.66 | -0.66 | -148.18 | -288.57 | -0.19 | -126.03 | -167.86 | 0.15 | -16.67 | 25.0 | 4.85 | -57.75 | -48.13 | 146.08 | 21.98 | 23.98 | -33.33 | -132.65 | -101.67 | 129.17 | 3200.0 | 106.8 | 24.03 | 14.54 | 0 |
| 21Q1 (9) | 22.14 | 14.42 | 0.41 | 4.99 | 2.46 | -26.4 | 4.83 | 84.35 | -39.09 | 3.51 | 50.0 | -40.41 | 1.37 | 26.85 | -41.2 | 0.73 | 17.74 | -42.97 | 0.18 | -18.18 | -10.0 | 11.48 | 45.69 | -17.41 | 119.76 | 6.42 | 25.94 | 102.08 | -44.32 | 19.91 | -4.17 | 95.19 | -128.03 | 20.98 | 113.86 | 0 |
| 20Q4 (8) | 19.35 | -10.13 | -0.82 | 4.87 | -37.8 | -30.73 | 2.62 | -57.47 | -22.49 | 2.34 | -50.0 | -41.79 | 1.08 | -55.0 | -45.73 | 0.62 | -51.18 | -47.46 | 0.22 | -8.33 | -8.33 | 7.88 | -30.02 | -5.85 | 112.54 | 5.7 | 1.73 | 183.33 | 44.63 | -11.73 | -86.67 | -223.86 | 19.52 | 9.81 | -42.7 | 0 |
| 20Q3 (7) | 21.53 | 9.85 | 0.84 | 7.83 | 314.52 | 24.09 | 6.16 | 2666.67 | -22.61 | 4.68 | 227.27 | -21.21 | 2.40 | 585.71 | -13.98 | 1.27 | 353.57 | -16.45 | 0.24 | 100.0 | 0.0 | 11.26 | 20.43 | -10.49 | 106.47 | -9.64 | 7.72 | 126.76 | -93.66 | 58.45 | -26.76 | 98.59 | -226.37 | 17.12 | 0 | -8.55 |
| 20Q2 (6) | 19.60 | -11.11 | 9.31 | -3.65 | -153.83 | -177.33 | -0.24 | -103.03 | -104.19 | 1.43 | -75.72 | -69.7 | 0.35 | -84.98 | -84.3 | 0.28 | -78.12 | -78.12 | 0.12 | -40.0 | -50.0 | 9.35 | -32.73 | -11.71 | 117.83 | 23.91 | 25.1 | 2000.00 | 2249.21 | 2331.37 | -1900.00 | -12881.82 | -10809.09 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 22.05 | 13.02 | 13.54 | 6.78 | -3.56 | 21.29 | 7.93 | 134.62 | 36.72 | 5.89 | 46.52 | 29.74 | 2.33 | 17.09 | 16.5 | 1.28 | 8.47 | 8.47 | 0.20 | -16.67 | -13.04 | 13.90 | 66.07 | 26.94 | 95.09 | -14.05 | 4.96 | 85.14 | -59.01 | -11.82 | 14.86 | 113.8 | 331.08 | 0.00 | 0 | -100.0 |
| 19Q4 (4) | 19.51 | -8.62 | 0.0 | 7.03 | 11.41 | 0.0 | 3.38 | -57.54 | 0.0 | 4.02 | -32.32 | 0.0 | 1.99 | -28.67 | 0.0 | 1.18 | -22.37 | 0.0 | 0.24 | 0.0 | 0.0 | 8.37 | -33.47 | 0.0 | 110.63 | 11.93 | 0.0 | 207.69 | 159.62 | 0.0 | -107.69 | -608.55 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 21.35 | 19.07 | 0.0 | 6.31 | 33.69 | 0.0 | 7.96 | 38.92 | 0.0 | 5.94 | 25.85 | 0.0 | 2.79 | 25.11 | 0.0 | 1.52 | 18.75 | 0.0 | 0.24 | 0.0 | 0.0 | 12.58 | 18.79 | 0.0 | 98.84 | 4.94 | 0.0 | 80.00 | -2.75 | 0.0 | 21.18 | 19.36 | 0.0 | 18.72 | 12.1 | 0.0 |
| 19Q2 (2) | 17.93 | -7.67 | 0.0 | 4.72 | -15.56 | 0.0 | 5.73 | -1.21 | 0.0 | 4.72 | 3.96 | 0.0 | 2.23 | 11.5 | 0.0 | 1.28 | 8.47 | 0.0 | 0.24 | 4.35 | 0.0 | 10.59 | -3.29 | 0.0 | 94.19 | 3.96 | 0.0 | 82.26 | -14.8 | 0.0 | 17.74 | 414.52 | 0.0 | 16.70 | -0.54 | 0.0 |
| 19Q1 (1) | 19.42 | 0.0 | 0.0 | 5.59 | 0.0 | 0.0 | 5.80 | 0.0 | 0.0 | 4.54 | 0.0 | 0.0 | 2.00 | 0.0 | 0.0 | 1.18 | 0.0 | 0.0 | 0.23 | 0.0 | 0.0 | 10.95 | 0.0 | 0.0 | 90.60 | 0.0 | 0.0 | 96.55 | 0.0 | 0.0 | 3.45 | 0.0 | 0.0 | 16.79 | 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) | 13.95 | -12.26 | -1.28 | 0 | 5.20 | -1.49 | -0.10 | 0 | 0.24 | -44.19 | 0.39 | -43.48 | 0.64 | -12.33 | 0.71 | 7.58 | 6.52 | -3.69 | 121.33 | -11.17 | 1375.00 | 0 | -1275.00 | 0 | 1.75 | -9.67 | 19.68 | -10.55 |
| 2022 (9) | 15.90 | -18.38 | -3.35 | 0 | 5.28 | -5.52 | -0.01 | 0 | 0.43 | 48.28 | 0.69 | 60.47 | 0.73 | 35.19 | 0.66 | 1.54 | 6.77 | -3.29 | 136.58 | -5.64 | 0.00 | 0 | 0.00 | 0 | 1.94 | 9.51 | 22.00 | -1.79 |
| 2021 (8) | 19.48 | -5.98 | 1.57 | -68.54 | 5.59 | 14.73 | 0.14 | -96.95 | 0.29 | -92.37 | 0.43 | -92.76 | 0.54 | -83.44 | 0.65 | -12.16 | 7.00 | -33.9 | 144.75 | 28.62 | 1140.00 | 949.52 | -1040.00 | 0 | 1.77 | -3.85 | 22.40 | 29.48 |
| 2020 (7) | 20.72 | 5.98 | 4.99 | -15.99 | 4.87 | 27.79 | 4.59 | -19.19 | 3.80 | -20.67 | 5.94 | -34.0 | 3.26 | -35.57 | 0.74 | -21.28 | 10.59 | 0.38 | 112.54 | 1.73 | 108.62 | 3.94 | -8.62 | 0 | 1.84 | -2.52 | 17.30 | 5.81 |
| 2019 (6) | 19.55 | -1.86 | 5.94 | 17.62 | 3.81 | 3.33 | 5.68 | -4.38 | 4.79 | 9.36 | 9.00 | 20.81 | 5.06 | 21.93 | 0.94 | 10.59 | 10.55 | 0.96 | 110.63 | 24.47 | 104.51 | 22.84 | -4.51 | 0 | 1.89 | -15.35 | 16.35 | -14.53 |
| 2018 (5) | 19.92 | 9.03 | 5.05 | 72.95 | 3.69 | -10.78 | 5.94 | 77.31 | 4.38 | 63.43 | 7.45 | 86.25 | 4.15 | 64.68 | 0.85 | 7.59 | 10.45 | 25.15 | 88.88 | -22.33 | 85.07 | -2.77 | 14.93 | 19.4 | 2.24 | 6.72 | 19.13 | -9.85 |
| 2017 (4) | 18.27 | -12.29 | 2.92 | -46.03 | 4.14 | -7.95 | 3.35 | -42.04 | 2.68 | -35.89 | 4.00 | -31.27 | 2.52 | -34.88 | 0.79 | -5.95 | 8.35 | -24.16 | 114.43 | 71.25 | 87.50 | -6.62 | 12.50 | 98.61 | 2.09 | 0 | 21.22 | 3.87 |
| 2016 (3) | 20.83 | 19.16 | 5.41 | 127.31 | 4.49 | 1.97 | 5.78 | 110.18 | 4.18 | 90.0 | 5.82 | 64.41 | 3.87 | 53.57 | 0.84 | -5.62 | 11.01 | 35.76 | 66.82 | 2.78 | 93.71 | 9.07 | 6.29 | -55.31 | 0.00 | 0 | 20.43 | 1.59 |
| 2015 (2) | 17.48 | -10.5 | 2.38 | 183.33 | 4.41 | -13.14 | 2.75 | 195.7 | 2.20 | 400.0 | 3.54 | 470.97 | 2.52 | 215.0 | 0.89 | 18.67 | 8.11 | 15.69 | 65.01 | -34.53 | 85.92 | -3.98 | 14.08 | 33.8 | 0.00 | 0 | 20.11 | 13.1 |
| 2014 (1) | 19.53 | 0 | 0.84 | 0 | 5.07 | -5.28 | 0.93 | 0 | 0.44 | 0 | 0.62 | 0 | 0.80 | 0 | 0.75 | 2.74 | 7.01 | -29.97 | 99.29 | 28.2 | 89.47 | -7.64 | 10.53 | 573.68 | 0.00 | 0 | 17.78 | -7.4 |
