- 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) | 21.06 | -8.08 | -18.81 | 10.74 | 33.25 | -31.81 | 8.37 | -32.28 | -32.77 | 6.56 | -33.6 | -37.76 | 5.11 | 23.13 | -40.09 | 2.03 | 19.41 | -40.64 | 0.29 | 81.25 | -6.45 | 10.00 | -35.98 | -28.93 | 184.95 | 16.54 | 10.89 | 128.57 | 105.71 | 3.48 | -28.57 | -176.19 | -4.76 | 9.02 | -34.45 | 0.33 |
| 23Q3 (19) | 22.91 | 38.85 | 12.91 | 8.06 | 11614.29 | 94.69 | 12.36 | 193.59 | 41.26 | 9.88 | 201.22 | 85.71 | 4.15 | 302.91 | 142.69 | 1.70 | 214.81 | 109.88 | 0.16 | 33.33 | 23.08 | 15.62 | 71.84 | 18.96 | 158.70 | -8.77 | 5.79 | 62.50 | 0 | 40.63 | 37.50 | -62.5 | -32.5 | 13.76 | -14.96 | -1.01 |
| 23Q2 (18) | 16.50 | 43.1 | -11.72 | -0.07 | 99.77 | 99.1 | 4.21 | 113.14 | 211.97 | 3.28 | 112.8 | 188.89 | 1.03 | 132.19 | 227.16 | 0.54 | 150.47 | 400.0 | 0.12 | 140.0 | 50.0 | 9.09 | 142.42 | 490.26 | 173.95 | 3.79 | 14.19 | 0.00 | -100.0 | -100.0 | 100.00 | 1200.0 | 166.67 | 16.18 | -56.06 | -17.07 |
| 23Q1 (17) | 11.53 | -55.55 | -24.93 | -29.81 | -289.27 | 15.72 | -32.04 | -357.35 | -38.64 | -25.63 | -343.17 | -38.69 | -3.20 | -137.51 | -56.1 | -1.07 | -131.29 | -64.62 | 0.05 | -83.87 | 25.0 | -21.43 | -252.31 | -76.82 | 167.59 | 0.48 | -2.34 | 92.31 | -25.7 | -38.46 | 7.69 | 128.21 | 115.38 | 36.82 | 309.57 | -7.51 |
| 22Q4 (16) | 25.94 | 27.85 | 27.72 | 15.75 | 280.43 | 20.05 | 12.45 | 42.29 | -0.24 | 10.54 | 98.12 | 5.72 | 8.53 | 398.83 | 12.09 | 3.42 | 322.22 | 14.38 | 0.31 | 138.46 | 6.9 | 14.07 | 7.16 | -0.14 | 166.79 | 11.18 | -5.46 | 124.24 | 179.55 | 15.67 | -27.27 | -149.09 | -636.36 | 8.99 | -35.32 | 51.09 |
| 22Q3 (15) | 20.29 | 8.56 | 10.87 | 4.14 | 153.01 | 153.49 | 8.75 | 332.71 | 179.91 | 5.32 | 244.17 | 160.32 | 1.71 | 311.11 | 188.14 | 0.81 | 550.0 | 219.12 | 0.13 | 62.5 | 44.44 | 13.13 | 752.6 | 366.87 | 150.02 | -1.52 | 0.03 | 44.44 | -82.22 | -37.78 | 55.56 | 137.04 | 94.44 | 13.90 | -28.75 | -31.39 |
| 22Q2 (14) | 18.69 | 21.68 | 88.79 | -7.81 | 77.92 | 78.71 | -3.76 | 83.73 | 92.15 | -3.69 | 80.03 | 90.38 | -0.81 | 60.49 | 80.43 | -0.18 | 72.31 | 89.09 | 0.08 | 100.0 | 60.0 | 1.54 | 112.71 | 103.98 | 152.33 | -11.23 | 12.02 | 250.00 | 66.67 | 240.91 | -150.00 | -200.0 | -662.5 | 19.51 | -50.99 | -49.68 |
| 22Q1 (13) | 15.36 | -24.37 | -41.04 | -35.37 | -369.59 | -361.15 | -23.11 | -285.18 | -119.89 | -18.48 | -285.36 | -119.74 | -2.05 | -126.94 | -64.0 | -0.65 | -121.74 | -47.73 | 0.04 | -86.21 | -33.33 | -12.12 | -186.02 | -433.92 | 171.60 | -2.74 | 26.62 | 150.00 | 39.66 | 150.0 | -50.00 | -1250.0 | -350.0 | 39.81 | 569.08 | 42.13 |
| 21Q4 (12) | 20.31 | 10.98 | 4.91 | 13.12 | 269.51 | 1126.17 | 12.48 | 213.97 | 1288.57 | 9.97 | 213.04 | 1138.54 | 7.61 | 492.27 | 3144.0 | 2.99 | 539.71 | 15050.0 | 0.29 | 222.22 | 163.64 | 14.09 | 386.38 | 456.92 | 176.43 | 17.64 | 28.16 | 107.41 | 50.37 | 207.41 | -3.70 | -112.96 | -101.85 | 5.95 | -70.63 | -63.74 |
| 21Q3 (11) | 18.30 | 84.85 | 8.61 | -7.74 | 78.9 | -198.84 | -10.95 | 77.14 | -84.34 | -8.82 | 77.0 | -85.68 | -1.94 | 53.14 | -71.68 | -0.68 | 58.79 | -65.85 | 0.09 | 80.0 | -10.0 | -4.92 | 87.29 | -253.96 | 149.97 | 10.29 | 10.95 | 71.43 | -2.6 | 42.86 | 28.57 | 7.14 | -42.86 | 20.26 | -47.74 | 34.08 |
| 21Q2 (10) | 9.90 | -62.0 | -33.29 | -36.68 | -378.23 | -12.58 | -47.91 | -355.85 | -16.06 | -38.34 | -355.89 | -17.07 | -4.14 | -231.2 | -25.45 | -1.65 | -275.0 | -13.79 | 0.05 | -16.67 | 0.0 | -38.71 | -1605.29 | -27.76 | 135.98 | 0.34 | 8.27 | 73.33 | 22.22 | -6.67 | 26.67 | 33.33 | 24.44 | 38.77 | 38.41 | 0 |
| 21Q1 (9) | 26.05 | 34.56 | 15.73 | -7.67 | -816.82 | -1604.44 | -10.51 | -900.95 | -1651.67 | -8.41 | -776.04 | -1084.51 | -1.25 | -400.0 | -861.54 | -0.44 | -2100.0 | -1200.0 | 0.06 | -45.45 | -33.33 | -2.27 | -189.72 | -149.13 | 135.52 | -1.55 | 27.12 | 60.00 | 160.0 | 0 | 20.00 | -90.0 | 0 | 28.01 | 70.69 | 46.8 |
| 20Q4 (8) | 19.36 | 14.9 | -41.55 | 1.07 | 141.31 | -92.57 | -1.05 | 82.32 | -109.41 | -0.96 | 79.79 | -110.69 | -0.25 | 77.88 | -108.28 | -0.02 | 95.12 | -101.27 | 0.11 | 10.0 | -35.29 | 2.53 | 282.01 | -81.65 | 137.66 | 1.84 | 33.91 | -100.00 | -300.0 | -176.47 | 200.00 | 300.0 | 750.0 | 16.41 | 8.6 | 5.26 |
| 20Q3 (7) | 16.85 | 13.54 | -49.91 | -2.59 | 92.05 | -135.09 | -5.94 | 85.61 | -144.49 | -4.75 | 85.5 | -130.37 | -1.13 | 65.76 | -133.53 | -0.41 | 71.72 | -125.63 | 0.10 | 100.0 | 0.0 | -1.39 | 95.41 | -107.7 | 135.17 | 7.63 | 31.49 | 50.00 | -36.36 | 0.0 | 50.00 | 133.33 | 25.0 | 15.11 | 0 | -26.65 |
| 20Q2 (6) | 14.84 | -34.07 | -61.89 | -32.58 | -7140.0 | -252.6 | -41.28 | -6780.0 | -304.15 | -32.75 | -4512.68 | -303.67 | -3.30 | -2438.46 | -131.88 | -1.45 | -3725.0 | -135.19 | 0.05 | -44.44 | -80.0 | -30.30 | -755.84 | -234.85 | 125.59 | 17.8 | -13.28 | 78.57 | 0 | -25.56 | 21.43 | 0 | 485.71 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 22.51 | -32.04 | 14.55 | -0.45 | -103.12 | -110.77 | -0.60 | -105.38 | -112.45 | -0.71 | -107.91 | -118.49 | -0.13 | -104.3 | -107.22 | 0.04 | -97.47 | -94.59 | 0.09 | -47.06 | -50.0 | 4.62 | -66.5 | -31.35 | 106.61 | 3.71 | -40.88 | 0.00 | -100.0 | -100.0 | 0.00 | 100.0 | -100.0 | 19.08 | 22.39 | 58.21 |
| 19Q4 (4) | 33.12 | -1.55 | 0.0 | 14.40 | 95.12 | 0.0 | 11.16 | -16.4 | 0.0 | 8.98 | -42.58 | 0.0 | 3.02 | -10.39 | 0.0 | 1.58 | -1.25 | 0.0 | 0.17 | 70.0 | 0.0 | 13.79 | -23.64 | 0.0 | 102.80 | 0.0 | 0.0 | 130.77 | 161.54 | 0.0 | -30.77 | -176.92 | 0.0 | 15.59 | -24.32 | 0.0 |
| 19Q3 (3) | 33.64 | -13.61 | 0.0 | 7.38 | -65.43 | 0.0 | 13.35 | -33.98 | 0.0 | 15.64 | -2.74 | 0.0 | 3.37 | -67.44 | 0.0 | 1.60 | -61.17 | 0.0 | 0.10 | -60.0 | 0.0 | 18.06 | -19.63 | 0.0 | 102.80 | -29.02 | 0.0 | 50.00 | -52.63 | 0.0 | 40.00 | 820.0 | 0.0 | 20.60 | 76.67 | 0.0 |
| 19Q2 (2) | 38.94 | 98.17 | 0.0 | 21.35 | 410.77 | 0.0 | 20.22 | 319.5 | 0.0 | 16.08 | 318.75 | 0.0 | 10.35 | 475.0 | 0.0 | 4.12 | 456.76 | 0.0 | 0.25 | 38.89 | 0.0 | 22.47 | 233.88 | 0.0 | 144.82 | -19.69 | 0.0 | 105.56 | 31.94 | 0.0 | -5.56 | -127.78 | 0.0 | 11.66 | -3.32 | 0.0 |
| 19Q1 (1) | 19.65 | 0.0 | 0.0 | 4.18 | 0.0 | 0.0 | 4.82 | 0.0 | 0.0 | 3.84 | 0.0 | 0.0 | 1.80 | 0.0 | 0.0 | 0.74 | 0.0 | 0.0 | 0.18 | 0.0 | 0.0 | 6.73 | 0.0 | 0.0 | 180.33 | 0.0 | 0.0 | 80.00 | 0.0 | 0.0 | 20.00 | 0.0 | 0.0 | 12.06 | 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) | 19.88 | -13.34 | 4.75 | -24.24 | 1.93 | -1.52 | 5.31 | -22.14 | 4.16 | -21.95 | 6.47 | -15.86 | 2.89 | -11.89 | 0.56 | 5.66 | 8.48 | -17.03 | 184.95 | 10.89 | 89.29 | -4.56 | 10.71 | 10.71 | 0.53 | -3.31 | 13.79 | 0.44 |
| 2022 (9) | 22.94 | 16.09 | 6.27 | 143.97 | 1.96 | -22.39 | 6.82 | 2335.71 | 5.33 | 2438.1 | 7.69 | 2976.0 | 3.28 | 597.87 | 0.53 | 15.22 | 10.22 | 143.33 | 166.79 | -5.46 | 93.55 | -89.61 | 9.68 | 0 | 0.55 | -24.03 | 13.73 | -2.21 |
| 2021 (8) | 19.76 | 4.77 | 2.57 | 0 | 2.52 | -29.97 | 0.28 | 0 | 0.21 | 0 | 0.25 | 0 | 0.47 | 0 | 0.46 | 31.43 | 4.20 | 0 | 176.43 | 28.16 | 900.00 | 1325.0 | -800.00 | 0 | 0.73 | 159.64 | 14.04 | -27.59 |
| 2020 (7) | 18.86 | -41.81 | -4.83 | 0 | 3.60 | 111.95 | -7.66 | 0 | -6.19 | 0 | -4.74 | 0 | -1.82 | 0 | 0.35 | -52.7 | -2.40 | 0 | 137.66 | 33.91 | 63.16 | -36.84 | 36.84 | 0 | 0.28 | -0.14 | 19.39 | 37.71 |
| 2019 (6) | 32.41 | -8.08 | 13.68 | -16.53 | 1.70 | 116.84 | 13.51 | -15.08 | 11.54 | -10.89 | 18.97 | -16.94 | 8.97 | -8.93 | 0.74 | 1.37 | 16.14 | -6.33 | 102.80 | -32.19 | 100.00 | -3.17 | -1.56 | 0 | 0.28 | 55.96 | 14.08 | -12.6 |
| 2018 (5) | 35.26 | 6.72 | 16.39 | 9.63 | 0.78 | -13.32 | 15.91 | 7.65 | 12.95 | 5.8 | 22.84 | 11.36 | 9.85 | -7.94 | 0.73 | -14.12 | 17.23 | 5.9 | 151.61 | 16.96 | 103.28 | 1.21 | -3.28 | 0 | 0.18 | 0 | 16.11 | 10.87 |
| 2017 (4) | 33.04 | 15.44 | 14.95 | 224.3 | 0.90 | -44.58 | 14.78 | 235.91 | 12.24 | 283.7 | 20.51 | 508.61 | 10.70 | 355.32 | 0.85 | 16.44 | 16.27 | 149.54 | 129.62 | 121.12 | 102.04 | 2.04 | -2.04 | 0 | 0.00 | 0 | 14.53 | -19.28 |
| 2016 (3) | 28.62 | -20.5 | 4.61 | -39.1 | 1.63 | -40.08 | 4.40 | -25.93 | 3.19 | -40.93 | 3.37 | -31.78 | 2.35 | -37.5 | 0.73 | 5.8 | 6.52 | -26.24 | 58.62 | 109.88 | 100.00 | -18.18 | 0.00 | 0 | 0.00 | 0 | 18.00 | -16.74 |
| 2015 (2) | 36.00 | 22.03 | 7.57 | 0 | 2.72 | -42.31 | 5.94 | 0 | 5.40 | 0 | 4.94 | 0 | 3.76 | 0 | 0.69 | 27.78 | 8.84 | 87.29 | 27.93 | -21.83 | 122.22 | -59.26 | -22.22 | 0 | 0.00 | 0 | 21.62 | -26.39 |
| 2014 (1) | 29.50 | 0 | -2.99 | 0 | 4.72 | 251.42 | -0.85 | 0 | -1.31 | 0 | -0.93 | 0 | -0.68 | 0 | 0.54 | -61.43 | 4.72 | -41.37 | 35.73 | 51.98 | 300.00 | 122.22 | -200.00 | 0 | 0.00 | 0 | 29.37 | 300.14 |
