- 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) | 23.05 | -11.07 | -23.65 | 5.55 | 188.1 | -63.56 | 4.72 | 199.79 | -58.6 | 3.79 | 178.96 | -64.48 | 1.59 | 225.2 | -62.68 | 0.83 | 432.0 | -54.4 | 0.16 | 60.0 | 6.67 | 10.42 | 177.87 | -36.81 | 167.18 | 0.37 | 7.08 | 116.67 | -14.44 | -11.49 | -16.67 | 54.17 | 51.11 | 31.29 | -37.23 | 28.92 |
| 23Q3 (19) | 25.92 | -1.26 | -0.92 | -6.30 | 37.62 | -50.72 | -4.73 | 52.61 | -960.0 | -4.80 | 46.61 | -827.27 | -1.27 | 56.8 | -553.57 | -0.25 | 71.59 | -189.29 | 0.10 | -16.67 | -33.33 | 3.75 | 225.84 | -33.39 | 166.57 | -1.97 | -0.41 | 136.36 | 36.36 | 117.05 | -36.36 | 0 | -104.04 | 49.85 | 29.78 | 74.36 |
| 23Q2 (18) | 26.25 | 5.0 | 34.89 | -10.10 | 68.11 | -63.17 | -9.98 | 70.45 | -94.54 | -8.99 | 68.7 | -76.97 | -2.94 | 42.13 | -33.03 | -0.88 | 49.71 | -44.26 | 0.12 | 71.43 | -20.0 | -2.98 | 86.47 | -520.83 | 169.91 | 4.17 | -11.41 | 100.00 | 7.55 | -19.23 | -0.00 | -100.0 | 100.0 | 38.41 | -41.68 | 47.39 |
| 23Q1 (17) | 25.00 | -17.19 | -4.58 | -31.67 | -307.94 | -999.72 | -33.77 | -396.23 | -573.63 | -28.72 | -369.17 | -524.85 | -5.08 | -219.25 | -277.0 | -1.75 | -196.15 | -252.17 | 0.07 | -53.33 | -53.33 | -22.02 | -233.54 | -286.29 | 163.11 | 4.47 | -11.08 | 92.98 | -29.46 | 92.61 | 7.02 | 120.58 | -86.43 | 65.86 | 171.36 | 122.5 |
| 22Q4 (16) | 30.19 | 15.41 | 22.52 | 15.23 | 464.35 | 618.4 | 11.40 | 1972.73 | 1343.04 | 10.67 | 1516.67 | 1875.93 | 4.26 | 1421.43 | 1368.97 | 1.82 | 550.0 | 550.0 | 0.15 | 0.0 | -16.67 | 16.49 | 192.9 | 231.12 | 156.13 | -6.65 | -20.2 | 131.82 | 116.48 | -52.07 | -34.09 | -103.79 | 80.52 | 24.27 | -15.11 | 7.29 |
| 22Q3 (15) | 26.16 | 34.43 | 108.45 | -4.18 | 32.47 | 60.71 | 0.55 | 110.72 | 105.47 | 0.66 | 112.99 | 110.93 | 0.28 | 112.67 | 110.18 | 0.28 | 145.9 | 136.36 | 0.15 | 0.0 | -6.25 | 5.63 | 1272.92 | 220.3 | 167.25 | -12.8 | -19.09 | -800.00 | -746.15 | -864.44 | 900.00 | 4825.0 | 13000.0 | 28.59 | 9.71 | 5.34 |
| 22Q2 (14) | 19.46 | -25.73 | -11.83 | -6.19 | -275.85 | -455.75 | -5.13 | -171.95 | -346.09 | -5.08 | -175.15 | -234.21 | -2.21 | -177.0 | -206.94 | -0.61 | -153.04 | -369.23 | 0.15 | 0.0 | -16.67 | -0.48 | -104.06 | -111.51 | 191.80 | 4.56 | 6.15 | 123.81 | 156.46 | 177.38 | -19.05 | -136.83 | -107.33 | 26.06 | -11.96 | 1.05 |
| 22Q1 (13) | 26.20 | 6.33 | 385.19 | 3.52 | 66.04 | 117.74 | 7.13 | 802.53 | 134.11 | 6.76 | 1151.85 | 135.12 | 2.87 | 889.66 | 136.65 | 1.15 | 310.71 | 136.62 | 0.15 | -16.67 | -11.76 | 11.82 | 137.35 | 204.32 | 183.44 | -6.25 | 34.7 | 48.28 | -82.45 | -48.78 | 51.72 | 129.56 | 1025.0 | 29.60 | 30.86 | 1.02 |
| 21Q4 (12) | 24.64 | 96.33 | 80.51 | 2.12 | 119.92 | 136.18 | 0.79 | 107.86 | 110.13 | 0.54 | 108.94 | 108.75 | 0.29 | 110.55 | 113.18 | 0.28 | 136.36 | 134.15 | 0.18 | 12.5 | 12.5 | 4.98 | 206.41 | -24.09 | 195.66 | -5.35 | 39.08 | 275.00 | 162.78 | 275.0 | -175.00 | -2408.33 | -850.0 | 22.62 | -16.65 | -24.42 |
| 21Q3 (11) | 12.55 | -43.14 | -54.55 | -10.64 | -711.49 | -105.01 | -10.05 | -773.91 | -57.52 | -6.04 | -297.37 | -0.33 | -2.75 | -281.94 | -25.0 | -0.77 | -492.31 | 11.49 | 0.16 | -11.11 | -5.88 | -4.68 | -212.23 | 0 | 206.72 | 14.41 | 79.44 | 104.65 | 165.41 | 25.58 | -6.98 | -102.68 | -133.49 | 27.14 | 5.23 | -11.88 |
| 21Q2 (10) | 22.07 | 308.7 | -19.22 | 1.74 | 108.77 | -56.61 | -1.15 | 94.5 | -122.12 | -1.52 | 92.1 | -131.6 | -0.72 | 90.8 | -147.68 | -0.13 | 95.86 | -114.13 | 0.18 | 5.88 | 20.0 | 4.17 | 136.8 | -60.4 | 180.68 | 32.68 | 61.32 | -160.00 | -269.76 | -309.23 | 260.00 | 5555.0 | 1005.0 | 25.79 | -11.98 | 0 |
| 21Q1 (9) | 5.40 | -60.44 | -79.71 | -19.84 | -238.57 | -420.73 | -20.90 | -167.95 | -487.08 | -19.25 | -211.99 | -359.43 | -7.83 | -255.91 | -631.78 | -3.14 | -282.93 | -665.85 | 0.17 | 6.25 | 30.77 | -11.33 | -272.71 | -534.1 | 136.18 | -3.2 | 44.73 | 94.25 | 28.53 | -5.75 | 4.60 | -80.3 | 145.98 | 29.30 | -2.1 | -17.09 |
| 20Q4 (8) | 13.65 | -50.56 | 160.5 | -5.86 | -12.91 | 83.77 | -7.80 | -22.26 | 81.46 | -6.17 | -2.49 | 83.29 | -2.20 | 0.0 | 72.91 | -0.82 | 5.75 | 80.0 | 0.16 | -5.88 | 45.45 | 6.56 | 0 | 118.54 | 140.68 | 22.12 | 56.31 | 73.33 | -12.0 | -15.0 | 23.33 | 12.0 | 70.0 | 29.93 | -2.82 | -25.66 |
| 20Q3 (7) | 27.61 | 1.06 | 102.27 | -5.19 | -229.43 | 82.62 | -6.38 | -222.69 | 77.2 | -6.02 | -225.16 | 75.5 | -2.20 | -245.7 | 56.35 | -0.87 | -194.57 | 64.49 | 0.17 | 13.33 | 54.55 | 0.00 | -100.0 | 100.0 | 115.20 | 2.86 | 23.22 | 83.33 | 8.97 | -21.3 | 20.83 | -11.46 | 383.33 | 30.80 | 0 | -30.62 |
| 20Q2 (6) | 27.32 | 2.67 | 4.27 | 4.01 | 205.25 | 170.23 | 5.20 | 246.07 | 196.65 | 4.81 | 214.8 | 193.22 | 1.51 | 241.12 | 197.42 | 0.92 | 324.39 | 246.03 | 0.15 | 15.38 | 0.0 | 10.53 | 303.45 | 2125.0 | 112.00 | 19.03 | 18.22 | 76.47 | -23.53 | -27.01 | 23.53 | 335.29 | 594.12 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 26.61 | 407.82 | -10.61 | -3.81 | 89.45 | -158.26 | -3.56 | 91.54 | -152.12 | -4.19 | 88.65 | -180.58 | -1.07 | 86.82 | -146.12 | -0.41 | 90.0 | -132.03 | 0.13 | 18.18 | -40.91 | 2.61 | 107.37 | -73.8 | 94.09 | 4.54 | 0.47 | 100.00 | 15.91 | 2.7 | -10.00 | -172.86 | -290.0 | 35.34 | -12.22 | 53.05 |
| 19Q4 (4) | 5.24 | -61.61 | 0.0 | -36.11 | -20.89 | 0.0 | -42.07 | -50.36 | 0.0 | -36.92 | -50.26 | 0.0 | -8.12 | -61.11 | 0.0 | -4.10 | -67.35 | 0.0 | 0.11 | 0.0 | 0.0 | -35.39 | -71.3 | 0.0 | 90.00 | -3.73 | 0.0 | 86.27 | -18.52 | 0.0 | 13.73 | 286.67 | 0.0 | 40.26 | -9.3 | 0.0 |
| 19Q3 (3) | 13.65 | -47.9 | 0.0 | -29.87 | -423.12 | 0.0 | -27.98 | -420.07 | 0.0 | -24.57 | -376.16 | 0.0 | -5.04 | -225.16 | 0.0 | -2.45 | -288.89 | 0.0 | 0.11 | -26.67 | 0.0 | -20.66 | -3873.08 | 0.0 | 93.49 | -1.32 | 0.0 | 105.88 | 1.07 | 0.0 | -7.35 | -54.41 | 0.0 | 44.39 | 45.64 | 0.0 |
| 19Q2 (2) | 26.20 | -11.99 | 0.0 | -5.71 | -187.31 | 0.0 | -5.38 | -178.77 | 0.0 | -5.16 | -199.23 | 0.0 | -1.55 | -166.81 | 0.0 | -0.63 | -149.22 | 0.0 | 0.15 | -31.82 | 0.0 | -0.52 | -105.22 | 0.0 | 94.74 | 1.16 | 0.0 | 104.76 | 7.59 | 0.0 | -4.76 | -190.48 | 0.0 | 30.48 | 32.01 | 0.0 |
| 19Q1 (1) | 29.77 | 0.0 | 0.0 | 6.54 | 0.0 | 0.0 | 6.83 | 0.0 | 0.0 | 5.20 | 0.0 | 0.0 | 2.32 | 0.0 | 0.0 | 1.28 | 0.0 | 0.0 | 0.22 | 0.0 | 0.0 | 9.96 | 0.0 | 0.0 | 93.65 | 0.0 | 0.0 | 97.37 | 0.0 | 0.0 | 5.26 | 0.0 | 0.0 | 23.09 | 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) | 24.86 | -2.05 | -7.09 | 0 | 4.47 | 52.05 | -7.33 | 0 | -6.62 | 0 | -7.60 | 0 | -2.04 | 0 | 0.44 | -27.87 | 0.37 | -95.49 | 167.18 | 7.08 | 97.50 | 72.25 | 3.75 | -91.36 | 1.13 | 0.72 | 42.64 | 57.05 |
| 2022 (9) | 25.38 | 52.16 | 1.89 | 0 | 2.94 | -32.08 | 3.33 | 0 | 3.10 | 0 | 5.20 | 0 | 2.58 | 0 | 0.61 | -10.29 | 8.20 | 0 | 156.13 | -20.2 | 56.60 | -31.97 | 43.40 | 158.4 | 1.12 | 28.04 | 27.15 | 4.3 |
| 2021 (8) | 16.68 | -28.75 | -6.07 | 0 | 4.33 | -34.07 | -7.28 | 0 | -6.11 | 0 | -11.05 | 0 | -3.51 | 0 | 0.68 | 15.25 | -1.33 | 0 | 195.66 | 39.08 | 83.21 | 0.27 | 16.79 | 12.76 | 0.87 | -17.33 | 26.03 | -15.71 |
| 2020 (7) | 23.41 | 6.75 | -2.91 | 0 | 6.57 | 105.05 | -3.46 | 0 | -3.12 | 0 | -3.98 | 0 | -1.26 | 0 | 0.59 | -7.81 | 4.87 | 0 | 140.68 | 56.31 | 82.98 | -13.02 | 14.89 | 223.4 | 1.06 | -3.32 | 30.88 | -2.25 |
| 2019 (6) | 21.93 | -33.22 | -10.14 | 0 | 3.21 | 84.13 | -10.63 | 0 | -9.76 | 0 | -12.66 | 0 | -5.67 | 0 | 0.64 | -21.95 | -5.78 | 0 | 90.00 | -19.19 | 95.39 | 15.45 | 4.61 | -73.49 | 1.09 | 26.94 | 31.59 | 21.22 |
| 2018 (5) | 32.84 | 7.32 | 8.99 | 8.84 | 1.74 | 2.37 | 10.90 | 52.02 | 8.42 | 71.14 | 14.80 | 75.36 | 7.40 | 57.45 | 0.82 | -4.65 | 13.67 | 38.64 | 111.37 | -5.1 | 82.63 | -28.69 | 17.37 | 0 | 0.86 | 0 | 26.06 | 4.87 |
| 2017 (4) | 30.60 | 8.7 | 8.26 | 247.06 | 1.70 | -29.07 | 7.17 | 222.97 | 4.92 | 706.56 | 8.44 | 1025.33 | 4.70 | 526.67 | 0.86 | 28.36 | 9.86 | 74.51 | 117.36 | 45.07 | 115.87 | 8.4 | -15.08 | 0 | 0.00 | 0 | 24.85 | -14.43 |
| 2016 (3) | 28.15 | -6.7 | 2.38 | -64.9 | 2.40 | 45.13 | 2.22 | -78.04 | 0.61 | -92.41 | 0.75 | -94.55 | 0.75 | -90.35 | 0.67 | -27.96 | 5.65 | -54.4 | 80.90 | -6.74 | 106.90 | 59.91 | -6.90 | 0 | 0.00 | 0 | 29.04 | 15.97 |
| 2015 (2) | 30.17 | 5.97 | 6.78 | 16.3 | 1.65 | 35.89 | 10.11 | 91.84 | 8.04 | 95.62 | 13.77 | 78.6 | 7.77 | 83.69 | 0.93 | -2.11 | 12.39 | 75.0 | 86.75 | 5.25 | 66.85 | -39.23 | 33.15 | 0 | 0.00 | 0 | 25.04 | 19.35 |
| 2014 (1) | 28.47 | 0 | 5.83 | 0 | 1.22 | -32.58 | 5.27 | 0 | 4.11 | 0 | 7.71 | 0 | 4.23 | 0 | 0.95 | 18.75 | 7.08 | -36.45 | 82.42 | -26.33 | 110.00 | 10.0 | -11.00 | 0 | 0.00 | 0 | 20.98 | -13.48 |
