- 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) | 46.42 | 14.59 | 13.44 | 2.50 | 114.89 | 481.4 | 4.08 | 121.86 | 126.67 | 2.99 | 115.0 | 539.71 | 0.57 | 117.17 | 733.33 | 0.44 | 122.22 | 2300.0 | 0.12 | 20.0 | 20.0 | 12.92 | 261.1 | 115.69 | 42.82 | -42.51 | 1.88 | 55.56 | -37.28 | 66.67 | 33.33 | 288.89 | -50.0 | 24.22 | -17.93 | -23.01 |
| 23Q3 (19) | 40.51 | 15.25 | -5.11 | -16.79 | 8.45 | -226.02 | -18.66 | -3.72 | -324.09 | -19.93 | -3.53 | -247.82 | -3.32 | -6.41 | -295.24 | -1.98 | 6.6 | -266.67 | 0.10 | -9.09 | 0.0 | -8.02 | 42.01 | 0 | 74.48 | 68.93 | 76.28 | 88.57 | -11.43 | -21.27 | 8.57 | 391.43 | 168.57 | 29.51 | -5.05 | -4.47 |
| 23Q2 (18) | 35.15 | -3.17 | -20.96 | -18.34 | -67.64 | -166.57 | -17.99 | -54.42 | -150.56 | -19.25 | -51.34 | -140.32 | -3.12 | -56.0 | -200.0 | -2.12 | -57.04 | -211.76 | 0.11 | 0.0 | 22.22 | -13.83 | -73.31 | -436.05 | 44.09 | 1.38 | 3.33 | 100.00 | 4.76 | 0.0 | -2.94 | -164.71 | 0 | 31.08 | 4.37 | -6.3 |
| 23Q1 (17) | 36.30 | -11.29 | -15.64 | -10.94 | -2644.19 | -84.8 | -11.65 | -747.22 | -99.83 | -12.72 | -1770.59 | -118.18 | -2.00 | -2122.22 | -140.96 | -1.35 | -6650.0 | -159.62 | 0.11 | 10.0 | 10.0 | -7.98 | -233.22 | -593.91 | 43.49 | 3.47 | 5.51 | 95.45 | 186.36 | -4.55 | 4.55 | -93.18 | 0 | 29.78 | -5.34 | -1.26 |
| 22Q4 (16) | 40.92 | -4.15 | 81.06 | 0.43 | 108.35 | 149.43 | 1.80 | 140.91 | 311.76 | -0.68 | 88.13 | 9.33 | -0.09 | 89.29 | 59.09 | -0.02 | 96.3 | 80.0 | 0.10 | 0.0 | -50.0 | 5.99 | 0 | 340.44 | 42.03 | -0.52 | -15.09 | 33.33 | -70.37 | -66.67 | 66.67 | 633.33 | 0 | 31.46 | 1.85 | 118.47 |
| 22Q3 (15) | 42.69 | -4.0 | 93.69 | -5.15 | 25.15 | -51.03 | -4.40 | 38.72 | -19.89 | -5.73 | 28.46 | -37.41 | -0.84 | 19.23 | 14.29 | -0.54 | 20.59 | 10.0 | 0.10 | 11.11 | -37.5 | 0.00 | 100.0 | 100.0 | 42.25 | -0.98 | -15.06 | 112.50 | 12.5 | 23.75 | -12.50 | 0 | -237.5 | 30.89 | -6.87 | 97.89 |
| 22Q2 (14) | 44.47 | 3.35 | 113.7 | -6.88 | -16.22 | -5014.29 | -7.18 | -23.16 | -35800.0 | -8.01 | -37.39 | -800.0 | -1.04 | -25.3 | -372.73 | -0.68 | -30.77 | -580.0 | 0.09 | -10.0 | -43.75 | -2.58 | -124.35 | -204.88 | 42.67 | 3.52 | -18.29 | 100.00 | 0.0 | 0 | -0.00 | 0 | 0 | 33.17 | 9.98 | 144.62 |
| 22Q1 (13) | 43.03 | 90.4 | 94.44 | -5.92 | -580.46 | -581.3 | -5.83 | -585.88 | -581.82 | -5.83 | -677.33 | -887.84 | -0.83 | -277.27 | -515.0 | -0.52 | -420.0 | -388.89 | 0.10 | -50.0 | -44.44 | -1.15 | -184.56 | -130.5 | 41.22 | -16.73 | -22.4 | 100.00 | 0.0 | 0.0 | -0.00 | 0 | 0 | 30.16 | 109.44 | 116.82 |
| 21Q4 (12) | 22.60 | 2.54 | 20.34 | -0.87 | 74.49 | -40.32 | -0.85 | 76.84 | -547.37 | -0.75 | 82.01 | -170.75 | -0.22 | 77.55 | -178.57 | -0.10 | 83.33 | -141.67 | 0.20 | 25.0 | 11.11 | 1.36 | 236.0 | -48.09 | 49.50 | -0.48 | 2.91 | 100.00 | 10.0 | 150.0 | -0.00 | -100.0 | -100.0 | 14.40 | -7.75 | 34.58 |
| 21Q3 (11) | 22.04 | 5.91 | 6.78 | -3.41 | -2535.71 | -211.07 | -3.67 | -18250.0 | -219.54 | -4.17 | -368.54 | -284.51 | -0.98 | -345.45 | -250.77 | -0.60 | -500.0 | -227.66 | 0.16 | 0.0 | -20.0 | -1.00 | -140.65 | -119.38 | 49.74 | -4.75 | -1.93 | 90.91 | 0 | -9.09 | 9.09 | 0 | 0 | 15.61 | 15.12 | 26.81 |
| 21Q2 (10) | 20.81 | -5.96 | -2.89 | 0.14 | -88.62 | -96.63 | -0.02 | -101.65 | -100.47 | -0.89 | -220.27 | -132.01 | -0.22 | -210.0 | -125.88 | -0.10 | -155.56 | -115.38 | 0.16 | -11.11 | -30.43 | 2.46 | -34.75 | -58.72 | 52.22 | -1.69 | 47.1 | 0.00 | -100.0 | -100.0 | 0.00 | 0 | -100.0 | 13.56 | -2.52 | 0 |
| 21Q1 (9) | 22.13 | 17.84 | -11.9 | 1.23 | 298.39 | -73.89 | 1.21 | 536.84 | -75.05 | 0.74 | -30.19 | -79.73 | 0.20 | -28.57 | -80.0 | 0.18 | -25.0 | -77.78 | 0.18 | 0.0 | -18.18 | 3.77 | 43.89 | -45.68 | 53.12 | 10.44 | 62.15 | 100.00 | 150.0 | 6.25 | 0.00 | -100.0 | 0 | 13.91 | 30.0 | -1.7 |
| 20Q4 (8) | 18.78 | -9.01 | -16.98 | -0.62 | -120.2 | -111.21 | 0.19 | -93.81 | -96.89 | 1.06 | -53.1 | -81.14 | 0.28 | -56.92 | -85.34 | 0.24 | -48.94 | -84.71 | 0.18 | -10.0 | -35.71 | 2.62 | -49.22 | -66.32 | 48.10 | -5.17 | 147.3 | -200.00 | -300.0 | -326.09 | 300.00 | 0 | 3800.0 | 10.70 | -13.08 | 0.75 |
| 20Q3 (7) | 20.64 | -3.69 | -4.49 | 3.07 | -26.02 | -45.08 | 3.07 | -28.44 | -50.4 | 2.26 | -18.71 | -44.61 | 0.65 | -23.53 | -46.28 | 0.47 | -27.69 | -49.46 | 0.20 | -13.04 | -9.09 | 5.16 | -13.42 | -37.53 | 50.72 | 42.87 | 87.5 | 100.00 | 6.25 | 10.0 | 0.00 | -100.0 | -100.0 | 12.31 | 0 | 12.11 |
| 20Q2 (6) | 21.43 | -14.69 | -6.5 | 4.15 | -11.89 | -28.2 | 4.29 | -11.55 | -30.58 | 2.78 | -23.84 | -34.59 | 0.85 | -15.0 | -32.0 | 0.65 | -19.75 | -34.34 | 0.23 | 4.55 | 0.0 | 5.96 | -14.12 | -25.96 | 35.50 | 8.36 | -5.69 | 94.12 | 0.0 | 2.67 | 5.88 | 0 | -29.41 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 25.12 | 11.05 | 1.62 | 4.71 | -14.83 | -12.45 | 4.85 | -20.62 | -9.18 | 3.65 | -35.05 | -16.09 | 1.00 | -47.64 | -13.79 | 0.81 | -48.41 | -17.35 | 0.22 | -21.43 | 0.0 | 6.94 | -10.8 | -5.19 | 32.76 | 68.43 | 55.11 | 94.12 | 6.39 | -5.88 | 0.00 | -100.0 | 0 | 14.15 | 33.24 | 10.98 |
| 19Q4 (4) | 22.62 | 4.67 | 0.0 | 5.53 | -1.07 | 0.0 | 6.11 | -1.29 | 0.0 | 5.62 | 37.75 | 0.0 | 1.91 | 57.85 | 0.0 | 1.57 | 68.82 | 0.0 | 0.28 | 27.27 | 0.0 | 7.78 | -5.81 | 0.0 | 19.45 | -28.1 | 0.0 | 88.46 | -2.69 | 0.0 | 7.69 | -15.38 | 0.0 | 10.62 | -3.28 | 0.0 |
| 19Q3 (3) | 21.61 | -5.72 | 0.0 | 5.59 | -3.29 | 0.0 | 6.19 | 0.16 | 0.0 | 4.08 | -4.0 | 0.0 | 1.21 | -3.2 | 0.0 | 0.93 | -6.06 | 0.0 | 0.22 | -4.35 | 0.0 | 8.26 | 2.61 | 0.0 | 27.05 | -28.13 | 0.0 | 90.91 | -0.83 | 0.0 | 9.09 | 9.09 | 0.0 | 10.98 | 2.23 | 0.0 |
| 19Q2 (2) | 22.92 | -7.28 | 0.0 | 5.78 | 7.43 | 0.0 | 6.18 | 15.73 | 0.0 | 4.25 | -2.3 | 0.0 | 1.25 | 7.76 | 0.0 | 0.99 | 1.02 | 0.0 | 0.23 | 4.55 | 0.0 | 8.05 | 9.97 | 0.0 | 37.64 | 78.22 | 0.0 | 91.67 | -8.33 | 0.0 | 8.33 | 0 | 0.0 | 10.74 | -15.76 | 0.0 |
| 19Q1 (1) | 24.72 | 0.0 | 0.0 | 5.38 | 0.0 | 0.0 | 5.34 | 0.0 | 0.0 | 4.35 | 0.0 | 0.0 | 1.16 | 0.0 | 0.0 | 0.98 | 0.0 | 0.0 | 0.22 | 0.0 | 0.0 | 7.32 | 0.0 | 0.0 | 21.12 | 0.0 | 0.0 | 100.00 | 0.0 | 0.0 | -0.00 | 0.0 | 0.0 | 12.75 | 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) | 39.78 | -6.95 | -10.51 | 0 | 5.96 | 54.01 | -10.62 | 0 | -11.80 | 0 | -7.87 | 0 | -5.22 | 0 | 0.47 | 23.68 | -3.76 | 0 | 42.82 | 1.88 | 98.78 | -11.44 | 1.22 | 0 | 0.00 | 0 | 28.52 | -9.09 |
| 2022 (9) | 42.75 | 95.03 | -4.36 | 0 | 3.87 | 78.51 | -3.87 | 0 | -5.03 | 0 | -2.77 | 0 | -1.70 | 0 | 0.38 | -47.22 | 0.60 | -65.12 | 42.03 | -15.09 | 111.54 | 23.93 | -11.54 | 0 | 0.00 | 0 | 31.37 | 118.76 |
| 2021 (8) | 21.92 | 2.05 | -0.66 | 0 | 2.17 | 15.92 | -0.75 | 0 | -1.17 | 0 | -1.25 | 0 | -0.64 | 0 | 0.72 | -15.29 | 1.72 | -66.86 | 49.50 | 2.91 | 90.00 | -1.22 | 10.00 | 12.5 | 0.00 | 0 | 14.34 | 22.56 |
| 2020 (7) | 21.48 | -6.45 | 2.87 | -49.02 | 1.87 | -0.71 | 3.14 | -47.32 | 2.45 | -46.85 | 2.78 | -48.52 | 2.18 | -52.4 | 0.85 | -13.27 | 5.19 | -34.47 | 48.10 | 147.3 | 91.11 | -3.65 | 8.89 | 63.56 | 0.00 | 0 | 11.70 | 4.0 |
| 2019 (6) | 22.96 | -33.79 | 5.63 | -66.29 | 1.88 | 27.22 | 5.96 | -64.8 | 4.61 | -64.89 | 5.40 | -66.97 | 4.58 | -65.74 | 0.98 | -3.92 | 7.92 | -57.12 | 19.45 | -1.42 | 94.57 | -4.09 | 5.43 | 288.59 | 0.00 | 0 | 11.25 | -11.28 |
| 2018 (5) | 34.68 | -10.92 | 16.70 | -12.06 | 1.48 | 1.6 | 16.93 | -13.75 | 13.13 | -19.45 | 16.35 | -24.38 | 13.37 | -23.42 | 1.02 | -4.67 | 18.47 | -12.67 | 19.73 | -22.11 | 98.60 | 1.93 | 1.40 | -57.15 | 0.00 | 0 | 12.68 | -6.56 |
| 2017 (4) | 38.93 | 8.29 | 18.99 | 35.26 | 1.46 | -6.82 | 19.63 | 37.85 | 16.30 | 38.61 | 21.62 | 23.97 | 17.46 | 23.74 | 1.07 | -10.83 | 21.15 | 33.61 | 25.33 | 11.59 | 96.74 | -1.92 | 3.26 | 138.28 | 0.00 | 0 | 13.57 | 2.57 |
| 2016 (3) | 35.95 | 1.93 | 14.04 | -0.71 | 1.56 | -12.02 | 14.24 | -0.49 | 11.76 | 1.55 | 17.44 | -4.28 | 14.11 | -1.95 | 1.20 | -3.23 | 15.83 | -2.04 | 22.70 | -13.19 | 98.63 | -0.24 | 1.37 | 21.23 | 0.00 | 0 | 13.23 | -5.3 |
| 2015 (2) | 35.27 | -13.7 | 14.14 | -17.21 | 1.78 | -7.35 | 14.31 | -15.77 | 11.58 | -13.71 | 18.22 | -14.38 | 14.39 | -14.24 | 1.24 | -0.8 | 16.16 | -14.59 | 26.15 | -8.47 | 98.87 | -1.63 | 1.13 | 0 | 0.00 | 0 | 13.97 | -0.21 |
| 2014 (1) | 40.87 | 0 | 17.08 | 0 | 1.92 | 30.7 | 16.99 | 0 | 13.42 | 0 | 21.28 | 0 | 16.78 | 0 | 1.25 | 0.0 | 18.92 | -6.98 | 28.57 | 13.87 | 100.51 | 1.65 | -0.51 | 0 | 0.00 | 0 | 14.00 | -11.05 |
