- 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) | 3.30 | -39.78 | 65.83 | -0.74 | -132.74 | 53.16 | -3.84 | -176.65 | -380.0 | -2.98 | -173.95 | -645.0 | -1.38 | -166.03 | -527.27 | -0.90 | -165.69 | -592.31 | 0.30 | -11.76 | -6.25 | -3.40 | -163.08 | -1114.29 | 52.45 | 2.2 | -24.82 | 20.00 | -56.0 | -89.57 | 80.00 | 46.67 | 187.27 | 2.09 | -10.3 | 16.11 |
| 23Q3 (19) | 5.48 | 275.34 | 5.18 | 2.26 | 183.39 | 153.93 | 5.01 | 659.09 | -6.18 | 4.03 | 1731.82 | -0.74 | 2.09 | 1990.0 | -7.11 | 1.37 | 1857.14 | 7.87 | 0.34 | 17.24 | 9.68 | 5.39 | 413.33 | -6.1 | 51.32 | -3.53 | -31.2 | 45.45 | 111.73 | 169.23 | 54.55 | -88.81 | -34.38 | 2.33 | -0.85 | -11.41 |
| 23Q2 (18) | 1.46 | 124.62 | -72.96 | -2.71 | 21.68 | -260.36 | 0.66 | 118.18 | -87.52 | 0.22 | 106.96 | -93.89 | 0.10 | 106.54 | -93.98 | 0.07 | 107.53 | -91.86 | 0.29 | -3.33 | 20.83 | 1.05 | 132.81 | -81.74 | 53.20 | -6.02 | -33.96 | -387.50 | -505.52 | -1301.25 | 487.50 | 10868.75 | 602.91 | 2.35 | 8.8 | -17.83 |
| 23Q1 (17) | 0.65 | -67.34 | -86.49 | -3.46 | -118.99 | -292.22 | -3.63 | -353.75 | -191.67 | -3.16 | -690.0 | -200.96 | -1.53 | -595.45 | -170.18 | -0.93 | -615.38 | -187.74 | 0.30 | -6.25 | -11.76 | -3.20 | -1042.86 | -175.47 | 56.61 | -18.86 | -46.49 | 95.56 | -50.14 | 109.03 | 4.44 | 104.85 | -91.81 | 2.16 | 20.0 | 1.89 |
| 22Q4 (16) | 1.99 | -61.8 | -55.08 | -1.58 | -277.53 | -195.18 | -0.80 | -114.98 | -137.91 | -0.40 | -109.85 | -121.86 | -0.22 | -109.78 | -115.17 | -0.13 | -110.24 | -117.81 | 0.32 | 3.23 | -20.0 | -0.28 | -104.88 | -112.12 | 69.77 | -6.46 | -33.58 | 191.67 | 1035.26 | 143.94 | -91.67 | -210.29 | -527.78 | 1.80 | -31.56 | 12.5 |
| 22Q3 (15) | 5.21 | -3.52 | -9.39 | 0.89 | -47.34 | -58.99 | 5.34 | 0.95 | 113.6 | 4.06 | 12.78 | 103.0 | 2.25 | 35.54 | 67.91 | 1.27 | 47.67 | 71.62 | 0.31 | 29.17 | -16.22 | 5.74 | -0.17 | 111.03 | 74.59 | -7.41 | -17.88 | 16.88 | -47.66 | -80.77 | 83.12 | 19.84 | 581.56 | 2.63 | -8.04 | 28.29 |
| 22Q2 (14) | 5.40 | 12.27 | -14.15 | 1.69 | -6.11 | -45.83 | 5.29 | 33.59 | 126.07 | 3.60 | 15.02 | 105.71 | 1.66 | -23.85 | 80.43 | 0.86 | -18.87 | 56.36 | 0.24 | -29.41 | -22.58 | 5.75 | 35.61 | 119.47 | 80.56 | -23.86 | 12.89 | 32.26 | -29.44 | -75.81 | 69.35 | 27.76 | 308.06 | 2.86 | 34.91 | 23.81 |
| 22Q1 (13) | 4.81 | 8.58 | -6.05 | 1.80 | 8.43 | 22.45 | 3.96 | 87.68 | -18.85 | 3.13 | 71.04 | -20.96 | 2.18 | 50.34 | 12.37 | 1.06 | 45.21 | -4.5 | 0.34 | -15.0 | 21.43 | 4.24 | 83.55 | -18.62 | 105.80 | 0.72 | 71.78 | 45.71 | -41.82 | 49.84 | 54.29 | 153.33 | -21.88 | 2.12 | 32.5 | -22.63 |
| 21Q4 (12) | 4.43 | -22.96 | 14.77 | 1.66 | -23.5 | 18.57 | 2.11 | -15.6 | 154.22 | 1.83 | -8.5 | 161.43 | 1.45 | 8.21 | 184.31 | 0.73 | -1.35 | 160.71 | 0.40 | 8.11 | 0.0 | 2.31 | -15.07 | 113.89 | 105.04 | 15.64 | 15.86 | 78.57 | -10.52 | -50.89 | 21.43 | 75.71 | 132.14 | 1.60 | -21.95 | 13.48 |
| 21Q3 (11) | 5.75 | -8.59 | 14.09 | 2.17 | -30.45 | 1.4 | 2.50 | 6.84 | 174.73 | 2.00 | 14.29 | 222.58 | 1.34 | 45.65 | 226.83 | 0.74 | 34.55 | 196.0 | 0.37 | 19.35 | -7.5 | 2.72 | 3.82 | 128.57 | 90.83 | 27.28 | 24.17 | 87.80 | -34.15 | -63.85 | 12.20 | 136.59 | 108.54 | 2.05 | -11.26 | 9.04 |
| 21Q2 (10) | 6.29 | 22.85 | 49.76 | 3.12 | 112.24 | 387.5 | 2.34 | -52.05 | 906.9 | 1.75 | -55.81 | 516.67 | 0.92 | -52.58 | 560.0 | 0.55 | -50.45 | 558.33 | 0.31 | 10.71 | 3.33 | 2.62 | -49.71 | 2811.11 | 71.36 | 15.86 | 19.17 | 133.33 | 337.04 | 157.14 | -33.33 | -147.97 | -109.09 | 2.31 | -15.69 | 0 |
| 21Q1 (9) | 5.12 | 32.64 | 47.55 | 1.47 | 5.0 | 332.35 | 4.88 | 487.95 | 218.95 | 3.96 | 465.71 | 308.25 | 1.94 | 280.39 | 288.0 | 1.11 | 296.43 | 246.88 | 0.28 | -30.0 | -12.5 | 5.21 | 382.41 | 177.13 | 61.59 | -32.06 | 5.5 | 30.51 | -80.93 | 52.54 | 69.49 | 204.24 | -7.34 | 2.74 | 94.33 | 0 |
| 20Q4 (8) | 3.86 | -23.41 | 41.39 | 1.40 | -34.58 | 97.18 | 0.83 | -8.79 | 139.15 | 0.70 | 12.9 | 153.03 | 0.51 | 24.39 | 165.38 | 0.28 | 12.0 | 159.57 | 0.40 | 0.0 | 11.11 | 1.08 | -9.24 | 158.06 | 90.66 | 23.94 | 46.44 | 160.00 | -34.12 | 596.0 | -66.67 | 53.33 | -150.41 | 1.41 | -25.0 | 235.71 |
| 20Q3 (7) | 5.04 | 20.0 | -0.98 | 2.14 | 234.38 | 67.19 | 0.91 | 413.79 | -56.46 | 0.62 | 247.62 | -58.39 | 0.41 | 305.0 | -55.43 | 0.25 | 308.33 | -55.36 | 0.40 | 33.33 | 5.26 | 1.19 | 1222.22 | -47.81 | 73.15 | 22.16 | 6.66 | 242.86 | 204.08 | 288.57 | -142.86 | -138.96 | -480.95 | 1.88 | 0 | -21.99 |
| 20Q2 (6) | 4.20 | 21.04 | -31.6 | 0.64 | 88.24 | -62.79 | -0.29 | -118.95 | -107.57 | -0.42 | -143.3 | -118.42 | -0.20 | -140.0 | -118.87 | -0.12 | -137.5 | -117.39 | 0.30 | -6.25 | 0.0 | 0.09 | -95.21 | -97.8 | 59.88 | 2.57 | 2.8 | -233.33 | -1266.67 | -611.11 | 366.67 | 388.89 | 574.67 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 3.47 | 27.11 | -49.34 | 0.34 | -52.11 | -89.24 | 1.53 | 172.17 | -70.29 | 0.97 | 173.48 | -75.44 | 0.50 | 164.1 | -71.91 | 0.32 | 168.09 | -70.91 | 0.32 | -11.11 | 14.29 | 1.88 | 201.08 | -65.12 | 58.38 | -5.7 | 22.13 | 20.00 | 162.0 | -67.89 | 75.00 | -43.29 | 90.62 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 2.73 | -46.37 | 0.0 | 0.71 | -44.53 | 0.0 | -2.12 | -201.44 | 0.0 | -1.32 | -188.59 | 0.0 | -0.78 | -184.78 | 0.0 | -0.47 | -183.93 | 0.0 | 0.36 | -5.26 | 0.0 | -1.86 | -181.58 | 0.0 | 61.91 | -9.73 | 0.0 | -32.26 | -151.61 | 0.0 | 132.26 | 252.69 | 0.0 | 0.42 | -82.57 | 0.0 |
| 19Q3 (3) | 5.09 | -17.1 | 0.0 | 1.28 | -25.58 | 0.0 | 2.09 | -45.43 | 0.0 | 1.49 | -34.65 | 0.0 | 0.92 | -13.21 | 0.0 | 0.56 | -18.84 | 0.0 | 0.38 | 26.67 | 0.0 | 2.28 | -44.39 | 0.0 | 68.58 | 17.73 | 0.0 | 62.50 | 36.9 | 0.0 | 37.50 | -31.0 | 0.0 | 2.41 | -26.97 | 0.0 |
| 19Q2 (2) | 6.14 | -10.36 | 0.0 | 1.72 | -45.57 | 0.0 | 3.83 | -25.63 | 0.0 | 2.28 | -42.28 | 0.0 | 1.06 | -40.45 | 0.0 | 0.69 | -37.27 | 0.0 | 0.30 | 7.14 | 0.0 | 4.10 | -23.93 | 0.0 | 58.25 | 21.86 | 0.0 | 45.65 | -26.72 | 0.0 | 54.35 | 38.13 | 0.0 | 3.30 | 23.13 | 0.0 |
| 19Q1 (1) | 6.85 | 0.0 | 0.0 | 3.16 | 0.0 | 0.0 | 5.15 | 0.0 | 0.0 | 3.95 | 0.0 | 0.0 | 1.78 | 0.0 | 0.0 | 1.10 | 0.0 | 0.0 | 0.28 | 0.0 | 0.0 | 5.39 | 0.0 | 0.0 | 47.80 | 0.0 | 0.0 | 62.30 | 0.0 | 0.0 | 39.34 | 0.0 | 0.0 | 2.68 | 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) | 2.78 | -35.8 | -1.09 | 0 | 0.25 | 10.46 | -0.35 | 0 | -0.39 | 0 | -0.74 | 0 | -0.44 | 0 | 1.17 | -3.31 | 0.04 | -98.95 | 52.45 | -24.82 | 311.76 | 1369.75 | -211.76 | 0 | 0.10 | 55.41 | 2.23 | -3.88 |
| 2022 (9) | 4.33 | -18.46 | 0.71 | -65.7 | 0.22 | 24.41 | 3.39 | 20.64 | 2.58 | 13.16 | 5.83 | 3.55 | 3.13 | 9.82 | 1.21 | -3.2 | 3.80 | 23.78 | 69.77 | -33.58 | 21.21 | -71.1 | 78.79 | 196.31 | 0.07 | -12.87 | 2.32 | 10.48 |
| 2021 (8) | 5.31 | 27.34 | 2.07 | 69.67 | 0.18 | -13.96 | 2.81 | 260.26 | 2.28 | 338.46 | 5.63 | 361.48 | 2.85 | 313.04 | 1.25 | -6.72 | 3.07 | 186.92 | 105.04 | 15.86 | 73.41 | -52.81 | 26.59 | 0 | 0.08 | -40.25 | 2.10 | 8.25 |
| 2020 (7) | 4.17 | -17.91 | 1.22 | -25.61 | 0.21 | 23.89 | 0.78 | -61.19 | 0.52 | -64.14 | 1.22 | -60.26 | 0.69 | -62.3 | 1.34 | 6.35 | 1.07 | -52.86 | 90.66 | 46.44 | 155.56 | 90.91 | -55.56 | 0 | 0.13 | 70.4 | 1.94 | -8.92 |
| 2019 (6) | 5.08 | -60.03 | 1.64 | -79.88 | 0.17 | 92.41 | 2.01 | -80.26 | 1.45 | -79.37 | 3.07 | -81.39 | 1.83 | -80.8 | 1.26 | -6.67 | 2.27 | -78.07 | 61.91 | -16.68 | 81.48 | 1.9 | 18.52 | -7.57 | 0.08 | -31.28 | 2.13 | -41.32 |
| 2018 (5) | 12.71 | 89.14 | 8.15 | 200.74 | 0.09 | 9.9 | 10.18 | 232.68 | 7.03 | 225.46 | 16.50 | 246.64 | 9.53 | 242.81 | 1.35 | 4.65 | 10.35 | 220.43 | 74.30 | 2.26 | 79.97 | -10.11 | 20.03 | 81.49 | 0.11 | 0 | 3.63 | 62.78 |
| 2017 (4) | 6.72 | -16.73 | 2.71 | -27.93 | 0.08 | -34.95 | 3.06 | -20.1 | 2.16 | -23.4 | 4.76 | -21.84 | 2.78 | -21.25 | 1.29 | 3.2 | 3.23 | -20.05 | 72.66 | 3.45 | 88.96 | -9.12 | 11.04 | 595.45 | 0.00 | 0 | 2.23 | -5.91 |
| 2016 (3) | 8.07 | 26.29 | 3.76 | 83.41 | 0.12 | 3.76 | 3.83 | 16.41 | 2.82 | 11.9 | 6.09 | 5.18 | 3.53 | 6.65 | 1.25 | -4.58 | 4.04 | 16.09 | 70.24 | -5.92 | 97.88 | 56.61 | 1.59 | -95.77 | 0.00 | 0 | 2.37 | 7.73 |
| 2015 (2) | 6.39 | -25.96 | 2.05 | -30.98 | 0.12 | -9.12 | 3.29 | -31.74 | 2.52 | -25.44 | 5.79 | -19.47 | 3.31 | -28.35 | 1.31 | -4.38 | 3.48 | -30.4 | 74.66 | -0.65 | 62.50 | 1.45 | 37.50 | -2.33 | 0.00 | 0 | 2.20 | -11.29 |
| 2014 (1) | 8.63 | 0 | 2.97 | 0 | 0.13 | 18.24 | 4.82 | 0 | 3.38 | 0 | 7.19 | 0 | 4.62 | 0 | 1.37 | -8.05 | 5.00 | 0.81 | 75.15 | 110.5 | 61.61 | 8.43 | 38.39 | -11.09 | 0.00 | 0 | 2.48 | -3.5 |
