- 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) | 66.01 | 38.15 | -6.63 | -41.71 | 63.47 | -201.71 | -45.96 | 48.65 | -234.03 | -45.96 | 48.65 | -234.03 | -1.18 | 9.23 | -147.77 | -1.02 | 8.93 | -147.22 | 0.02 | 100.0 | -66.67 | -18.75 | 57.81 | -141.07 | 14.08 | 8.39 | 2.4 | 100.00 | -27.27 | -15.79 | 14.29 | 157.14 | 176.19 | 59.28 | -40.91 | 179.1 |
| 23Q3 (19) | 47.78 | -26.07 | -29.27 | -114.19 | -2560.99 | -486.82 | -89.51 | -580.72 | -290.12 | -89.51 | -733.92 | -290.12 | -1.30 | -345.28 | -141.8 | -1.12 | -328.57 | -141.79 | 0.01 | -66.67 | -83.33 | -44.44 | -218.51 | -175.91 | 12.99 | -10.54 | -24.56 | 137.50 | 587.5 | 117.71 | -25.00 | -141.67 | -167.86 | 100.33 | 157.19 | 335.08 |
| 23Q2 (18) | 64.63 | -8.55 | -10.98 | 4.64 | -47.09 | 393.62 | 18.62 | 94.36 | 36.41 | 14.12 | 47.39 | 3.44 | 0.53 | 55.88 | -1.85 | 0.49 | 53.12 | 0.0 | 0.03 | 0.0 | 0.0 | 37.50 | 23.23 | 12.51 | 14.52 | 11.69 | -14.24 | 20.00 | -80.0 | 0 | 60.00 | 0 | -40.0 | 39.01 | 1.4 | 19.99 |
| 23Q1 (17) | 70.67 | -0.04 | -9.42 | 8.77 | -78.61 | 125.2 | 9.58 | -72.06 | 134.34 | 9.58 | -72.06 | 134.34 | 0.34 | -86.23 | 138.2 | 0.32 | -85.19 | 146.38 | 0.03 | -50.0 | 0.0 | 30.43 | -33.34 | 586.88 | 13.00 | -5.45 | -21.16 | 100.00 | -15.79 | -16.67 | 0.00 | 100.0 | 100.0 | 38.47 | 81.12 | -15.39 |
| 22Q4 (16) | 70.70 | 4.66 | 0.14 | 41.01 | 38.92 | 118.16 | 34.29 | -27.17 | 115.07 | 34.29 | -27.17 | 115.07 | 2.47 | -20.58 | 168.99 | 2.16 | -19.4 | 177.98 | 0.06 | 0.0 | 500.0 | 45.65 | -22.02 | 126.63 | 13.75 | -20.15 | -55.57 | 118.75 | 88.02 | 18.75 | -18.75 | -150.89 | 0 | 21.24 | -7.89 | -82.94 |
| 22Q3 (15) | 67.55 | -6.96 | -9.02 | 29.52 | 3040.43 | 196.13 | 47.08 | 244.91 | 253.46 | 47.08 | 244.91 | 253.46 | 3.11 | 475.93 | 325.36 | 2.68 | 446.94 | 348.15 | 0.06 | 100.0 | 50.0 | 58.54 | 75.64 | 490.27 | 17.22 | 1.71 | -28.61 | 63.16 | 0 | -36.84 | 36.84 | -63.16 | 0 | 23.06 | -29.07 | -52.16 |
| 22Q2 (14) | 72.60 | -6.95 | -13.64 | 0.94 | 102.7 | 100.59 | 13.65 | 148.92 | 111.65 | 13.65 | 148.92 | 111.65 | 0.54 | 160.67 | 118.82 | 0.49 | 171.01 | 121.03 | 0.03 | 0.0 | 50.0 | 33.33 | 633.28 | 136.66 | 16.93 | 2.67 | -21.47 | 0.00 | -100.0 | -100.0 | 100.00 | 600.0 | 360.0 | 32.51 | -28.5 | -64.59 |
| 22Q1 (13) | 78.02 | 10.51 | -6.28 | -34.80 | 84.59 | 91.94 | -27.90 | 87.74 | 91.13 | -27.90 | 87.74 | 91.13 | -0.89 | 75.14 | 68.55 | -0.69 | 75.09 | 69.87 | 0.03 | 200.0 | 200.0 | -6.25 | 96.35 | 97.5 | 16.49 | -46.72 | -20.61 | 120.00 | 20.0 | -13.33 | -20.00 | 0 | 48.0 | 45.47 | -63.47 | -82.04 |
| 21Q4 (12) | 70.60 | -4.92 | -17.28 | -225.83 | -635.36 | -223.77 | -227.55 | -641.69 | -1441.67 | -227.55 | -641.69 | -1441.67 | -3.58 | -159.42 | -773.17 | -2.77 | -156.48 | -855.17 | 0.01 | -75.0 | -50.0 | -171.43 | -1042.87 | -2329.26 | 30.95 | 28.32 | 40.36 | 100.00 | 0.0 | -77.78 | -0.00 | 0 | 100.0 | 124.48 | 158.26 | 63.08 |
| 21Q3 (11) | 74.25 | -11.68 | -5.08 | -30.71 | 80.58 | 94.75 | -30.68 | 73.82 | 94.4 | -30.68 | 73.82 | 94.4 | -1.38 | 51.92 | 58.68 | -1.08 | 53.65 | 59.4 | 0.04 | 100.0 | 0 | -15.00 | 83.5 | 96.54 | 24.12 | 11.87 | -15.75 | 100.00 | -23.53 | -5.88 | -0.00 | 100.0 | 100.0 | 48.20 | -47.5 | -86.17 |
| 21Q2 (10) | 84.07 | 0.98 | 33.89 | -158.14 | 63.39 | 89.76 | -117.21 | 62.73 | 91.99 | -117.21 | 62.73 | 91.99 | -2.87 | -1.41 | 25.84 | -2.33 | -1.75 | 27.19 | 0.02 | 100.0 | 0 | -90.91 | 63.64 | 94.32 | 21.56 | 3.8 | 14.86 | 130.77 | -5.56 | 24.23 | -38.46 | 0.0 | -630.77 | 91.81 | -63.74 | 0 |
| 21Q1 (9) | 83.25 | -2.46 | 33.24 | -431.94 | -519.27 | 81.91 | -314.49 | -2030.69 | 86.52 | -314.49 | -2030.69 | 86.52 | -2.83 | -590.24 | 20.06 | -2.29 | -689.66 | 19.08 | 0.01 | -50.0 | 0 | -250.00 | -3350.98 | 83.33 | 20.77 | -5.8 | 0.44 | 138.46 | -69.23 | 31.17 | -38.46 | 89.01 | 0 | 253.21 | 231.73 | -80.05 |
| 20Q4 (8) | 85.35 | 9.12 | 2.49 | -69.75 | 88.07 | 71.15 | -14.76 | 97.31 | 93.82 | -14.76 | 97.31 | 93.82 | -0.41 | 87.72 | 87.54 | -0.29 | 89.1 | 88.72 | 0.02 | 0 | 100.0 | 7.69 | 101.77 | 103.85 | 22.05 | -22.98 | -15.06 | 450.00 | 323.53 | 350.0 | -350.00 | -5500.0 | 0 | 76.33 | -78.09 | -46.36 |
| 20Q3 (7) | 78.22 | 24.57 | -13.24 | -584.80 | 62.14 | -106.9 | -547.99 | 62.57 | -102.96 | -547.99 | 62.57 | -102.96 | -3.34 | 13.7 | -20.14 | -2.66 | 16.88 | -19.82 | 0.00 | 0 | -100.0 | -433.33 | 72.92 | -116.66 | 28.63 | 52.53 | 8.49 | 106.25 | 0.94 | -0.39 | -6.25 | -18.75 | 6.25 | 348.40 | 0 | 98.43 |
| 20Q2 (6) | 62.79 | 0.5 | -28.08 | -1544.82 | 35.31 | -150.55 | -1464.16 | 37.25 | -142.95 | -1464.16 | 37.25 | -142.95 | -3.87 | -9.32 | 9.58 | -3.20 | -13.07 | 8.83 | 0.00 | 0 | -100.0 | -1600.00 | -6.67 | -255.56 | 18.77 | -9.24 | -11.08 | 105.26 | -0.28 | 0.48 | -5.26 | 0 | 0 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 62.48 | -24.98 | 0 | -2387.96 | -887.7 | 0 | -2333.42 | -876.37 | 0 | -2333.42 | -876.37 | 0 | -3.54 | -7.6 | 5.85 | -2.83 | -10.12 | 15.77 | 0.00 | -100.0 | 0 | -1500.00 | -650.0 | 0 | 20.68 | -20.34 | 5.73 | 105.56 | 5.56 | 5.56 | -0.00 | 0 | 0 | 1269.40 | 792.12 | 0 |
| 19Q4 (4) | 83.28 | -7.63 | 0.0 | -241.77 | 14.46 | 0.0 | -238.99 | 11.49 | 0.0 | -238.99 | 11.49 | 0.0 | -3.29 | -18.35 | 0.0 | -2.57 | -15.77 | 0.0 | 0.01 | 0.0 | 0.0 | -200.00 | 0.0 | 0.0 | 25.96 | -1.63 | 0.0 | 100.00 | -6.25 | 0.0 | -0.00 | 100.0 | 0.0 | 142.29 | -18.96 | 0.0 |
| 19Q3 (3) | 90.16 | 3.26 | 0.0 | -282.65 | 54.16 | 0.0 | -270.00 | 55.2 | 0.0 | -270.00 | 55.2 | 0.0 | -2.78 | 35.05 | 0.0 | -2.22 | 36.75 | 0.0 | 0.01 | 0.0 | 0.0 | -200.00 | 55.56 | 0.0 | 26.39 | 25.01 | 0.0 | 106.67 | 1.82 | 0.0 | -6.67 | 0 | 0.0 | 175.58 | -54.3 | 0.0 |
| 19Q2 (2) | 87.31 | 0 | 0.0 | -616.57 | 0 | 0.0 | -602.67 | 0 | 0.0 | -602.67 | 0 | 0.0 | -4.28 | -13.83 | 0.0 | -3.51 | -4.46 | 0.0 | 0.01 | 0 | 0.0 | -450.00 | 0 | 0.0 | 21.11 | 7.92 | 0.0 | 104.76 | 4.76 | 0.0 | -0.00 | 0 | 0.0 | 384.16 | 0 | 0.0 |
| 19Q1 (1) | 0.00 | 0.0 | 0.0 | 0.00 | 0.0 | 0.0 | 0.00 | 0.0 | 0.0 | 0.00 | 0.0 | 0.0 | -3.76 | 0.0 | 0.0 | -3.36 | 0.0 | 0.0 | 0.00 | 0.0 | 0.0 | 0.00 | 0.0 | 0.0 | 19.56 | 0.0 | 0.0 | 100.00 | 0.0 | 0.0 | -0.00 | 0.0 | 0.0 | 0.00 | 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) | 64.69 | -8.87 | -19.53 | 0 | 21.92 | 85.57 | -12.40 | 0 | -13.91 | 0 | -1.59 | 0 | -1.30 | 0 | 0.10 | -50.0 | 13.70 | -66.54 | 14.08 | 2.4 | 155.56 | 111.56 | -55.56 | 0 | 0.28 | 2.65 | 51.17 | 89.03 |
| 2022 (9) | 70.99 | -7.98 | 20.00 | 0 | 11.81 | -50.39 | 26.51 | 0 | 26.51 | 0 | 6.31 | 0 | 5.36 | 0 | 0.20 | 185.71 | 40.94 | 0 | 13.75 | -55.57 | 73.53 | -39.37 | 23.53 | 0 | 0.27 | -24.63 | 27.07 | -70.76 |
| 2021 (8) | 77.15 | -5.42 | -136.10 | 0 | 23.81 | -46.43 | -113.84 | 0 | -113.84 | 0 | -10.64 | 0 | -8.28 | 0 | 0.07 | 133.33 | -83.33 | 0 | 30.95 | 40.36 | 121.28 | 2.62 | -19.15 | 0 | 0.36 | -70.5 | 92.57 | -58.52 |
| 2020 (7) | 81.57 | -5.7 | -360.22 | 0 | 44.44 | -5.56 | -306.31 | 0 | -306.31 | 0 | -11.15 | 0 | -8.85 | 0 | 0.03 | 0.0 | -233.33 | 0 | 22.05 | -15.06 | 118.18 | 14.94 | -18.18 | 0 | 1.22 | -10.12 | 223.16 | -14.21 |
| 2019 (6) | 86.50 | 122.14 | -441.59 | 0 | 47.06 | -84.31 | -430.99 | 0 | -430.99 | 0 | -14.45 | 0 | -12.45 | 0 | 0.03 | 0 | -347.06 | 0 | 25.96 | 1191.54 | 102.82 | -7.77 | -2.82 | 0 | 1.36 | -35.73 | 260.13 | -90.4 |
| 2018 (5) | 38.94 | 21.73 | -6764.14 | 0 | 300.00 | 100.0 | -6029.98 | 0 | -6029.98 | 0 | -12.32 | 0 | -12.06 | 0 | 0.00 | 0 | -5400.00 | 0 | 2.01 | -9.05 | 111.48 | 5.17 | -11.48 | 0 | 2.12 | 0 | 2710.86 | 131.0 |
| 2017 (4) | 31.99 | -3.09 | -2820.76 | 0 | 150.00 | 50.0 | -2641.25 | 0 | -2641.25 | 0 | -14.46 | 0 | -14.11 | 0 | 0.01 | 0.0 | -2200.00 | 0 | 2.21 | -36.68 | 106.00 | -5.46 | -6.00 | 0 | 0.00 | 0 | 1173.55 | 4.58 |
| 2016 (3) | 33.01 | -7.12 | -2330.72 | 0 | 100.00 | -50.0 | -2077.82 | 0 | -2077.82 | 0 | -26.88 | 0 | -24.96 | 0 | 0.01 | 0.0 | -1400.00 | 0 | 3.49 | -79.03 | 112.12 | 9.92 | -12.12 | 0 | 0.00 | 0 | 1122.18 | -75.98 |
| 2015 (2) | 35.54 | 0 | -7527.17 | 0 | 200.00 | 0 | -7322.32 | 0 | -7322.32 | 0 | -76.23 | 0 | -67.70 | 0 | 0.01 | 0 | -4800.00 | 0 | 16.64 | 145.79 | 102.00 | -5.29 | -2.00 | 0 | 0.00 | 0 | 4672.10 | 0 |
| 2014 (1) | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | -64.30 | 0 | -58.89 | 0 | 0.00 | 0 | 0.00 | 0 | 6.77 | -50.69 | 107.69 | 0 | -7.69 | 0 | 0.00 | 0 | 0.00 | 0 |
