- 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) | 26.90 | -33.02 | 27.07 | 15.76 | -44.99 | -10.4 | -44.16 | -281.5 | -459.32 | -29.60 | -254.97 | -400.51 | -1.97 | -241.73 | -177.56 | -0.74 | -197.37 | -162.18 | 0.03 | 0.0 | -70.0 | -19.66 | -143.59 | -209.04 | 124.68 | 4.49 | -16.41 | -35.92 | -130.51 | -125.24 | 135.92 | 866.11 | 414.13 | 12.21 | -14.62 | 137.55 |
| 23Q3 (19) | 40.16 | 37.44 | 160.78 | 28.65 | 23.07 | 131.98 | 24.33 | 5.78 | 102.08 | 19.10 | 1.92 | 102.55 | 1.39 | -50.53 | -56.15 | 0.76 | -41.54 | -48.99 | 0.03 | -50.0 | -78.57 | 45.10 | 37.17 | 174.67 | 119.32 | -12.21 | -22.37 | 117.74 | 15.78 | 14.96 | -17.74 | -1993.55 | -633.33 | 14.30 | 61.95 | 228.74 |
| 23Q2 (18) | 29.22 | 24.5 | 147.84 | 23.28 | 32.73 | 202.34 | 23.00 | 55.62 | 344.02 | 18.74 | 60.31 | 343.03 | 2.81 | 61.49 | 202.15 | 1.30 | 52.94 | 136.36 | 0.06 | 0.0 | -40.0 | 32.88 | 33.12 | 185.91 | 135.91 | -8.38 | 4.38 | 101.69 | -13.5 | -31.51 | -0.85 | 95.52 | 98.25 | 8.83 | 1.73 | 44.05 |
| 23Q1 (17) | 23.47 | 10.86 | 183.11 | 17.54 | -0.28 | 260.91 | 14.78 | 20.26 | 328.41 | 11.69 | 18.68 | 316.01 | 1.74 | -31.5 | 128.95 | 0.85 | -28.57 | 77.08 | 0.06 | -40.0 | -45.45 | 24.70 | 36.99 | 181.0 | 148.34 | -0.55 | 11.74 | 117.57 | -17.38 | -17.38 | -18.92 | 56.28 | 55.28 | 8.68 | 68.87 | 71.54 |
| 22Q4 (16) | 21.17 | 37.47 | 147.31 | 17.59 | 42.43 | 253.21 | 12.29 | 2.08 | 223.42 | 9.85 | 4.45 | 104.36 | 2.54 | -19.87 | 100.0 | 1.19 | -20.13 | 67.61 | 0.10 | -28.57 | -9.09 | 18.03 | 9.81 | 84.36 | 149.16 | -2.95 | 8.52 | 142.31 | 38.95 | 6.73 | -43.27 | -1688.46 | -46.03 | 5.14 | 18.16 | -0.96 |
| 22Q3 (15) | 15.40 | 30.62 | -46.8 | 12.35 | 60.39 | -41.33 | 12.04 | 132.43 | -29.3 | 9.43 | 122.93 | -33.22 | 3.17 | 240.86 | 81.14 | 1.49 | 170.91 | 58.51 | 0.14 | 40.0 | 180.0 | 16.42 | 42.78 | -44.07 | 153.70 | 18.04 | 11.98 | 102.42 | -31.02 | -16.88 | -2.42 | 95.01 | 89.58 | 4.35 | -29.04 | -62.37 |
| 22Q2 (14) | 11.79 | 42.22 | -55.76 | 7.70 | 58.44 | -59.32 | 5.18 | 50.14 | -66.82 | 4.23 | 50.53 | -68.29 | 0.93 | 22.37 | -40.38 | 0.55 | 14.58 | -38.89 | 0.10 | -9.09 | 66.67 | 11.50 | 30.83 | -57.97 | 130.21 | -1.92 | 8.54 | 148.48 | 4.34 | 22.88 | -48.48 | -14.6 | -132.73 | 6.13 | 21.15 | -48.62 |
| 22Q1 (13) | 8.29 | -3.15 | -62.61 | 4.86 | -2.41 | -50.41 | 3.45 | -9.21 | -50.64 | 2.81 | -41.7 | -47.96 | 0.76 | -40.16 | 85.37 | 0.48 | -32.39 | 37.14 | 0.11 | 0.0 | 175.0 | 8.79 | -10.12 | -61.45 | 132.76 | -3.41 | 32.38 | 142.31 | 6.73 | -2.63 | -42.31 | -42.79 | -10.0 | 5.06 | -2.5 | -73.49 |
| 21Q4 (12) | 8.56 | -70.43 | -66.68 | 4.98 | -76.34 | -70.3 | 3.80 | -77.69 | -71.21 | 4.82 | -65.86 | -55.94 | 1.27 | -27.43 | -20.13 | 0.71 | -24.47 | -19.32 | 0.11 | 120.0 | 83.33 | 9.78 | -66.69 | -54.45 | 137.45 | 0.14 | 12.99 | 133.33 | 8.21 | 5.26 | -29.63 | -27.64 | -11.11 | 5.19 | -55.1 | -54.47 |
| 21Q3 (11) | 28.95 | 8.63 | 40.19 | 21.05 | 11.2 | 25.22 | 17.03 | 9.1 | 4.74 | 14.12 | 5.85 | 1.07 | 1.75 | 12.18 | -72.61 | 0.94 | 4.44 | -66.19 | 0.05 | -16.67 | -73.68 | 29.36 | 7.31 | 51.26 | 137.26 | 14.42 | 4.92 | 123.21 | 1.97 | 19.36 | -23.21 | -11.43 | -619.64 | 11.56 | -3.1 | 125.78 |
| 21Q2 (10) | 26.65 | 20.21 | 46.99 | 18.93 | 93.16 | 44.28 | 15.61 | 123.32 | 9.01 | 13.34 | 147.04 | 5.45 | 1.56 | 280.49 | -61.76 | 0.90 | 157.14 | -50.0 | 0.06 | 50.0 | -53.85 | 27.36 | 20.0 | 44.08 | 119.96 | 19.61 | -27.85 | 120.83 | -17.32 | 31.41 | -20.83 | 45.83 | -358.93 | 11.93 | -37.51 | 58.85 |
| 21Q1 (9) | 22.17 | -13.7 | -25.1 | 9.80 | -41.56 | -45.4 | 6.99 | -47.05 | -32.0 | 5.40 | -50.64 | -38.36 | 0.41 | -74.21 | -51.19 | 0.35 | -60.23 | -38.6 | 0.04 | -33.33 | 0.0 | 22.80 | 6.19 | -7.8 | 100.29 | -17.56 | -30.46 | 146.15 | 15.38 | -15.85 | -38.46 | -44.23 | 47.8 | 19.09 | 67.46 | -3.93 |
| 20Q4 (8) | 25.69 | 24.41 | 9.93 | 16.77 | -0.24 | 2.88 | 13.20 | -18.82 | -12.64 | 10.94 | -21.69 | -25.17 | 1.59 | -75.12 | -40.0 | 0.88 | -68.35 | -34.81 | 0.06 | -68.42 | -25.0 | 21.47 | 10.61 | -5.75 | 121.65 | -7.01 | -11.36 | 126.67 | 22.71 | 17.45 | -26.67 | -726.67 | -240.0 | 11.40 | 122.66 | 3.73 |
| 20Q3 (7) | 20.65 | 13.9 | -22.75 | 16.81 | 28.12 | -16.49 | 16.26 | 13.55 | -4.63 | 13.97 | 10.43 | -5.86 | 6.39 | 56.62 | 153.57 | 2.78 | 54.44 | 113.85 | 0.19 | 46.15 | 171.43 | 19.41 | 2.21 | -23.1 | 130.82 | -21.32 | 2.27 | 103.23 | 12.26 | -11.76 | -3.23 | -140.09 | 82.9 | 5.12 | -31.82 | -57.48 |
| 20Q2 (6) | 18.13 | -38.75 | -25.24 | 13.12 | -26.91 | -31.09 | 14.32 | 39.3 | -13.58 | 12.65 | 44.41 | -8.93 | 4.08 | 385.71 | 32.9 | 1.80 | 215.79 | 18.42 | 0.13 | 225.0 | 44.44 | 18.99 | -23.21 | -16.53 | 166.27 | 15.3 | 21.01 | 91.95 | -47.06 | -20.15 | 8.05 | 110.92 | 153.1 | 7.51 | -62.2 | -24.6 |
| 20Q1 (5) | 29.60 | 26.66 | 48.45 | 17.95 | 10.12 | 19.67 | 10.28 | -31.97 | -18.67 | 8.76 | -40.08 | -21.51 | 0.84 | -68.3 | -73.99 | 0.57 | -57.78 | -64.81 | 0.04 | -50.0 | -66.67 | 24.73 | 8.56 | 41.07 | 144.21 | 5.08 | 7.8 | 173.68 | 61.05 | 46.96 | -73.68 | -839.47 | -305.26 | 19.87 | 80.8 | 180.25 |
| 19Q4 (4) | 23.37 | -12.57 | 0.0 | 16.30 | -19.03 | 0.0 | 15.11 | -11.38 | 0.0 | 14.62 | -1.48 | 0.0 | 2.65 | 5.16 | 0.0 | 1.35 | 3.85 | 0.0 | 0.08 | 14.29 | 0.0 | 22.78 | -9.75 | 0.0 | 137.24 | 7.29 | 0.0 | 107.84 | -7.81 | 0.0 | -7.84 | 58.43 | 0.0 | 10.99 | -8.72 | 0.0 |
| 19Q3 (3) | 26.73 | 10.23 | 0.0 | 20.13 | 5.72 | 0.0 | 17.05 | 2.9 | 0.0 | 14.84 | 6.84 | 0.0 | 2.52 | -17.92 | 0.0 | 1.30 | -14.47 | 0.0 | 0.07 | -22.22 | 0.0 | 25.24 | 10.95 | 0.0 | 127.92 | -6.9 | 0.0 | 116.98 | 1.59 | 0.0 | -18.87 | -24.53 | 0.0 | 12.04 | 20.88 | 0.0 |
| 19Q2 (2) | 24.25 | 21.61 | 0.0 | 19.04 | 26.93 | 0.0 | 16.57 | 31.09 | 0.0 | 13.89 | 24.46 | 0.0 | 3.07 | -4.95 | 0.0 | 1.52 | -6.17 | 0.0 | 0.09 | -25.0 | 0.0 | 22.75 | 29.78 | 0.0 | 137.40 | 2.71 | 0.0 | 115.15 | -2.56 | 0.0 | -15.15 | 16.67 | 0.0 | 9.96 | 40.48 | 0.0 |
| 19Q1 (1) | 19.94 | 0.0 | 0.0 | 15.00 | 0.0 | 0.0 | 12.64 | 0.0 | 0.0 | 11.16 | 0.0 | 0.0 | 3.23 | 0.0 | 0.0 | 1.62 | 0.0 | 0.0 | 0.12 | 0.0 | 0.0 | 17.53 | 0.0 | 0.0 | 133.78 | 0.0 | 0.0 | 118.18 | 0.0 | 0.0 | -18.18 | 0.0 | 0.0 | 7.09 | 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) | 28.81 | 98.28 | 21.12 | 91.13 | 10.05 | 188.28 | 10.03 | 14.37 | 8.93 | 27.75 | 3.94 | -47.61 | 2.26 | -39.57 | 0.19 | -56.82 | 24.03 | 70.43 | 124.68 | -16.41 | 209.93 | 66.9 | -110.60 | 0 | 0.01 | 4.74 | 10.24 | 102.37 |
| 2022 (9) | 14.53 | -20.08 | 11.05 | -6.04 | 3.49 | -46.19 | 8.77 | -6.2 | 6.99 | -18.34 | 7.52 | 46.87 | 3.74 | 29.41 | 0.44 | 69.23 | 14.10 | -25.98 | 149.16 | 8.52 | 125.78 | 0.07 | -26.13 | 0 | 0.01 | -20.33 | 5.06 | -47.35 |
| 2021 (8) | 18.18 | -15.52 | 11.76 | -25.71 | 6.48 | 111.13 | 9.35 | -36.26 | 8.56 | -32.22 | 5.12 | -58.41 | 2.89 | -53.31 | 0.26 | -39.53 | 19.05 | -5.22 | 137.45 | 12.99 | 125.69 | 16.55 | -25.69 | 0 | 0.02 | -19.1 | 9.61 | 18.06 |
| 2020 (7) | 21.52 | -6.92 | 15.83 | -8.6 | 3.07 | -10.98 | 14.67 | -2.52 | 12.63 | -5.25 | 12.31 | 7.51 | 6.19 | 7.47 | 0.43 | 16.22 | 20.10 | -6.6 | 121.65 | -11.36 | 107.84 | -6.08 | -7.84 | 0 | 0.02 | -15.78 | 8.14 | -15.56 |
| 2019 (6) | 23.12 | 3.72 | 17.32 | -0.06 | 3.45 | 26.32 | 15.05 | 3.94 | 13.33 | 5.88 | 11.45 | -20.6 | 5.76 | -10.97 | 0.37 | -15.91 | 21.52 | 7.28 | 137.24 | 4.17 | 114.83 | -4.0 | -15.25 | 0 | 0.02 | -8.74 | 9.64 | 10.93 |
| 2018 (5) | 22.29 | 25.37 | 17.33 | 46.24 | 2.73 | -27.6 | 14.48 | 110.47 | 12.59 | 114.12 | 14.42 | 158.89 | 6.47 | 125.44 | 0.44 | 37.5 | 20.06 | 38.82 | 131.75 | -34.91 | 119.62 | -30.29 | -19.62 | 0 | 0.02 | 0 | 8.69 | -24.83 |
| 2017 (4) | 17.78 | 11.61 | 11.85 | 0 | 3.77 | -30.9 | 6.88 | 0 | 5.88 | 0 | 5.57 | 0 | 2.87 | 0 | 0.32 | 23.08 | 14.45 | 241.61 | 202.42 | 5.35 | 171.59 | 679.96 | -71.59 | 0 | 0.00 | 0 | 11.56 | -32.56 |
| 2016 (3) | 15.93 | -4.04 | -1.23 | 0 | 5.46 | 73.68 | -5.52 | 0 | -6.32 | 0 | -4.40 | 0 | -0.73 | 0 | 0.26 | -50.0 | 4.23 | -67.71 | 192.14 | 37.11 | 22.00 | -82.3 | 76.00 | 0 | 0.00 | 0 | 17.14 | 30.44 |
| 2015 (2) | 16.60 | -6.53 | 9.81 | -22.27 | 3.14 | 7.33 | 7.91 | -27.89 | 6.57 | -31.99 | 7.71 | -47.83 | 4.23 | -45.49 | 0.52 | -27.78 | 13.10 | -14.66 | 140.14 | 26.06 | 124.27 | 7.96 | -24.27 | 0 | 0.00 | 0 | 13.14 | 6.31 |
| 2014 (1) | 17.76 | 0 | 12.62 | 0 | 2.93 | -10.83 | 10.97 | 0 | 9.66 | 0 | 14.78 | 0 | 7.76 | 0 | 0.72 | 5.88 | 15.35 | -0.32 | 111.17 | -4.43 | 115.11 | 6.54 | -15.11 | 0 | 0.00 | 0 | 12.36 | 0 |
