- 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) | 21.27 | 48.12 | -22.74 | 0.64 | 103.59 | -73.66 | -1.17 | -105.49 | 0.0 | -3.53 | -126.44 | -99.44 | -0.56 | -131.11 | -60.0 | -0.20 | -115.75 | -185.71 | 0.10 | 25.0 | -16.67 | 10.34 | -71.98 | 10.94 | 57.84 | -3.98 | -16.5 | -50.00 | 40.0 | 77.78 | 150.00 | -18.18 | -53.85 | 19.76 | -34.2 | -25.35 |
| 23Q3 (19) | 14.36 | -38.84 | -25.98 | -17.85 | -372.22 | -164.44 | 21.32 | 410.33 | 192.86 | 13.35 | 353.8 | 667.24 | 1.80 | 314.29 | 566.67 | 1.27 | 523.33 | 353.57 | 0.08 | -11.11 | -11.11 | 36.90 | 361.25 | 78.69 | 60.24 | -14.99 | -7.09 | -83.33 | -258.33 | 12.28 | 183.33 | 335.42 | -5.98 | 30.03 | 0.33 | 2.84 |
| 23Q2 (18) | 23.48 | 67.59 | -12.68 | -3.78 | 71.45 | -163.74 | -6.87 | 55.13 | -238.79 | -5.26 | 60.57 | -243.32 | -0.84 | 59.02 | -220.0 | -0.30 | 71.15 | -157.69 | 0.09 | 0.0 | -25.0 | 8.00 | 833.94 | -46.34 | 70.86 | -4.76 | 6.06 | 52.63 | -38.6 | -55.26 | 42.11 | 194.74 | 338.6 | 29.93 | -4.98 | 47.0 |
| 23Q1 (17) | 14.01 | -49.11 | -50.12 | -13.24 | -644.86 | -416.75 | -15.31 | -1208.55 | -380.92 | -13.34 | -653.67 | -402.49 | -2.05 | -485.71 | -405.97 | -1.04 | -1385.71 | -303.92 | 0.09 | -25.0 | -10.0 | -1.09 | -111.7 | -106.21 | 74.40 | 7.41 | 23.26 | 85.71 | 138.1 | 16.88 | 14.29 | -95.6 | -28.57 | 31.50 | 19.0 | 32.02 |
| 22Q4 (16) | 27.53 | 41.91 | -25.43 | 2.43 | 136.0 | -81.66 | -1.17 | -116.07 | -108.22 | -1.77 | -201.72 | -114.11 | -0.35 | -229.63 | -115.91 | -0.07 | -125.0 | -104.58 | 0.12 | 33.33 | 0.0 | 9.32 | -54.87 | -62.34 | 69.27 | 6.83 | 23.81 | -225.00 | -136.84 | -342.31 | 325.00 | 66.67 | 4450.0 | 26.47 | -9.35 | 18.75 |
| 22Q3 (15) | 19.40 | -27.85 | -41.95 | -6.75 | -213.83 | -248.68 | 7.28 | 47.07 | -21.72 | 1.74 | -52.59 | -75.66 | 0.27 | -61.43 | -67.47 | 0.28 | -46.15 | -55.56 | 0.09 | -25.0 | 12.5 | 20.65 | 38.5 | -11.45 | 64.84 | -2.95 | 49.4 | -95.00 | -180.75 | -290.0 | 195.00 | 1205.0 | 290.0 | 29.20 | 43.42 | -6.98 |
| 22Q2 (14) | 26.89 | -4.27 | -17.69 | 5.93 | 41.87 | 6.46 | 4.95 | -9.17 | -22.54 | 3.67 | -16.78 | 376.62 | 0.70 | 4.48 | 677.78 | 0.52 | 1.96 | 372.73 | 0.12 | 20.0 | 50.0 | 14.91 | -14.99 | -21.81 | 66.81 | 10.69 | 59.07 | 117.65 | 60.43 | 28.34 | -17.65 | -188.24 | -205.88 | 20.36 | -14.67 | -33.9 |
| 22Q1 (13) | 28.09 | -23.92 | -1.51 | 4.18 | -68.45 | 43.64 | 5.45 | -61.73 | -62.67 | 4.41 | -64.83 | -65.71 | 0.67 | -69.55 | -49.62 | 0.51 | -66.67 | -50.49 | 0.10 | -16.67 | 25.0 | 17.54 | -29.13 | -40.16 | 60.36 | 7.88 | 58.22 | 73.33 | -21.03 | 266.67 | 20.00 | 180.0 | -75.0 | 23.86 | 7.04 | -34.56 |
| 21Q4 (12) | 36.92 | 10.47 | -20.36 | 13.25 | 191.85 | -53.85 | 14.24 | 53.12 | -60.58 | 12.54 | 75.38 | -49.56 | 2.20 | 165.06 | -28.57 | 1.53 | 142.86 | -34.33 | 0.12 | 50.0 | 33.33 | 24.75 | 6.13 | -47.72 | 55.95 | 28.92 | 59.22 | 92.86 | 85.71 | 18.04 | 7.14 | -85.71 | -64.29 | 22.29 | -28.99 | -15.76 |
| 21Q3 (11) | 33.42 | 2.3 | -1.94 | 4.54 | -18.49 | -70.35 | 9.30 | 45.54 | -36.99 | 7.15 | 828.57 | -32.03 | 0.83 | 822.22 | -33.6 | 0.63 | 472.73 | -36.36 | 0.08 | 0.0 | -11.11 | 23.32 | 22.29 | -13.66 | 43.40 | 3.33 | 24.18 | 50.00 | -45.45 | -51.85 | 50.00 | 200.0 | 1400.0 | 31.39 | 1.92 | 5.76 |
| 21Q2 (10) | 32.67 | 14.55 | 70.07 | 5.57 | 91.41 | 130.34 | 6.39 | -56.23 | 136.56 | 0.77 | -94.01 | 103.75 | 0.09 | -93.23 | 105.7 | 0.11 | -89.32 | 110.28 | 0.08 | 0.0 | 33.33 | 19.07 | -34.94 | 2026.26 | 42.00 | 10.09 | 7.61 | 91.67 | 358.33 | -8.33 | 16.67 | -79.17 | 400.0 | 30.80 | -15.52 | -22.55 |
| 21Q1 (9) | 28.52 | -38.48 | 94.94 | 2.91 | -89.86 | 116.09 | 14.60 | -59.58 | 181.43 | 12.86 | -48.27 | 183.29 | 1.33 | -56.82 | 186.36 | 1.03 | -55.79 | 191.96 | 0.08 | -11.11 | 0.0 | 29.31 | -38.09 | 914.17 | 38.15 | 8.57 | -2.85 | 20.00 | -74.58 | -80.0 | 80.00 | 300.0 | 0 | 36.46 | 37.79 | 16.3 |
| 20Q4 (8) | 46.36 | 36.03 | 12.61 | 28.71 | 87.52 | 35.68 | 36.12 | 144.72 | 95.35 | 24.86 | 136.31 | 84.83 | 3.08 | 146.4 | 51.72 | 2.33 | 135.35 | 41.21 | 0.09 | 0.0 | -25.0 | 47.34 | 75.27 | 66.16 | 35.14 | 0.54 | 45.99 | 78.67 | -24.25 | -31.42 | 20.00 | 620.0 | 236.0 | 26.46 | -10.85 | 0 |
| 20Q3 (7) | 34.08 | 77.41 | -30.24 | 15.31 | 183.39 | -51.05 | 14.76 | 184.44 | -52.98 | 10.52 | 151.22 | -70.47 | 1.25 | 179.11 | -84.02 | 0.99 | 192.52 | -83.11 | 0.09 | 50.0 | -43.75 | 27.01 | 2828.28 | -31.67 | 34.95 | -10.45 | 15.5 | 103.85 | 3.85 | 5.4 | -3.85 | 30.77 | 0 | 29.68 | -25.37 | 4.95 |
| 20Q2 (6) | 19.21 | 31.31 | -58.84 | -18.36 | -1.49 | -159.46 | -17.48 | 2.51 | -152.23 | -20.54 | -33.03 | -174.02 | -1.58 | -2.6 | -122.01 | -1.07 | 4.46 | -119.74 | 0.06 | -25.0 | -68.42 | -0.99 | 72.5 | -102.48 | 39.03 | -0.61 | -2.03 | 100.00 | 0.0 | 7.89 | -5.56 | 0 | -175.93 | 39.77 | 26.86 | 121.56 |
| 20Q1 (5) | 14.63 | -64.46 | -64.31 | -18.09 | -185.49 | -168.01 | -17.93 | -196.97 | -167.71 | -15.44 | -214.8 | -163.07 | -1.54 | -175.86 | -127.9 | -1.12 | -167.88 | -125.23 | 0.08 | -33.33 | -55.56 | -3.60 | -112.64 | -110.5 | 39.27 | 63.15 | 46.31 | 100.00 | -12.82 | 0.0 | -0.00 | 100.0 | 0 | 31.35 | 0 | 62.44 |
| 19Q4 (4) | 41.17 | -15.72 | 0.0 | 21.16 | -32.35 | 0.0 | 18.49 | -41.1 | 0.0 | 13.45 | -62.25 | 0.0 | 2.03 | -74.04 | 0.0 | 1.65 | -71.84 | 0.0 | 0.12 | -25.0 | 0.0 | 28.49 | -27.93 | 0.0 | 24.07 | -20.46 | 0.0 | 114.71 | 16.42 | 0.0 | -14.71 | 0 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 48.85 | 4.67 | 0.0 | 31.28 | 1.3 | 0.0 | 31.39 | -6.21 | 0.0 | 35.63 | 28.4 | 0.0 | 7.82 | 8.91 | 0.0 | 5.86 | 8.12 | 0.0 | 0.16 | -15.79 | 0.0 | 39.53 | -0.78 | 0.0 | 30.26 | -24.05 | 0.0 | 98.53 | 6.31 | 0.0 | 0.00 | -100.0 | 0.0 | 28.28 | 57.55 | 0.0 |
| 19Q2 (2) | 46.67 | 13.86 | 0.0 | 30.88 | 16.09 | 0.0 | 33.47 | 26.4 | 0.0 | 27.75 | 13.36 | 0.0 | 7.18 | 30.07 | 0.0 | 5.42 | 22.07 | 0.0 | 0.19 | 5.56 | 0.0 | 39.84 | 16.15 | 0.0 | 39.84 | 48.44 | 0.0 | 92.68 | -7.32 | 0.0 | 7.32 | 0 | 0.0 | 17.95 | -6.99 | 0.0 |
| 19Q1 (1) | 40.99 | 0.0 | 0.0 | 26.60 | 0.0 | 0.0 | 26.48 | 0.0 | 0.0 | 24.48 | 0.0 | 0.0 | 5.52 | 0.0 | 0.0 | 4.44 | 0.0 | 0.0 | 0.18 | 0.0 | 0.0 | 34.30 | 0.0 | 0.0 | 26.84 | 0.0 | 0.0 | 100.00 | 0.0 | 0.0 | -0.00 | 0.0 | 0.0 | 19.30 | 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) | 18.48 | -28.04 | -8.00 | 0 | 10.53 | 16.53 | -0.99 | 0 | -2.57 | 0 | -1.50 | 0 | -0.26 | 0 | 0.36 | -16.28 | 12.93 | -14.43 | 57.84 | -16.5 | 818.18 | 1647.93 | -718.18 | 0 | 1.83 | -13.51 | 27.44 | 10.47 |
| 2022 (9) | 25.68 | -23.25 | 1.74 | -76.61 | 9.03 | -14.09 | 3.79 | -66.81 | 1.82 | -79.13 | 1.28 | -70.84 | 1.25 | -61.3 | 0.43 | 22.86 | 15.11 | -37.22 | 69.27 | 23.81 | 46.81 | -28.32 | 55.32 | 59.45 | 2.12 | -25.14 | 24.84 | -14.79 |
| 2021 (8) | 33.46 | 6.56 | 7.44 | 8.93 | 10.51 | -8.04 | 11.42 | 22.53 | 8.72 | 96.4 | 4.39 | 150.86 | 3.23 | 104.43 | 0.35 | 16.67 | 24.07 | 6.79 | 55.95 | 59.22 | 65.31 | -9.82 | 34.69 | 34.15 | 2.83 | -19.78 | 29.15 | -4.8 |
| 2020 (7) | 31.40 | -29.66 | 6.83 | -75.45 | 11.43 | 52.56 | 9.32 | -66.69 | 4.44 | -82.81 | 1.75 | -90.7 | 1.58 | -89.7 | 0.30 | -49.15 | 22.54 | -37.3 | 35.14 | 45.99 | 72.41 | -27.28 | 25.86 | 6081.03 | 3.53 | 2026.13 | 30.62 | 39.31 |
| 2019 (6) | 44.64 | 17.07 | 27.82 | 40.65 | 7.49 | 32.4 | 27.98 | 17.37 | 25.83 | 23.83 | 18.81 | 9.74 | 15.34 | 6.6 | 0.59 | -14.49 | 35.95 | 20.96 | 24.07 | 0.59 | 99.58 | 20.13 | 0.42 | -97.55 | 0.17 | -39.1 | 21.98 | -10.76 |
| 2018 (5) | 38.13 | 18.56 | 19.78 | 53.1 | 5.66 | -2.83 | 23.84 | 166.37 | 20.86 | 172.68 | 17.14 | 230.25 | 14.39 | 205.52 | 0.69 | 11.29 | 29.72 | 100.68 | 23.93 | 70.93 | 82.89 | -42.13 | 17.11 | 0 | 0.27 | 0 | 24.63 | -4.98 |
| 2017 (4) | 32.16 | 9.57 | 12.92 | 15.46 | 5.83 | -41.75 | 8.95 | -9.14 | 7.65 | -15.09 | 5.19 | 59.2 | 4.71 | 52.92 | 0.62 | 82.35 | 14.81 | -23.93 | 14.00 | 150.9 | 143.24 | 29.6 | -43.24 | 0 | 0.00 | 0 | 25.92 | -10.87 |
| 2016 (3) | 29.35 | -27.12 | 11.19 | -36.09 | 10.00 | 5.88 | 9.85 | -53.58 | 9.01 | -54.12 | 3.26 | 0 | 3.08 | 0 | 0.34 | 0 | 19.47 | -36.29 | 5.58 | -5.42 | 110.53 | 31.25 | -15.79 | 0 | 0.00 | 0 | 29.08 | 5.9 |
| 2015 (2) | 40.27 | 0 | 17.51 | 0 | 9.44 | 0 | 21.22 | 0 | 19.64 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 30.56 | 0 | 5.90 | 0 | 84.21 | 0 | 18.42 | 0 | 0.00 | 0 | 27.46 | 0 |
