- 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) | 9.96 | -18.49 | -6.65 | -2.52 | -51.81 | -2900.0 | -2.04 | -129.21 | -1071.43 | -2.27 | -95.69 | -3342.86 | -3.19 | -141.67 | -2758.33 | -0.90 | -200.0 | -792.31 | 0.44 | 25.71 | -13.73 | 0.39 | -80.88 | -81.43 | 220.99 | 3.81 | 2.75 | 123.29 | -34.14 | 202.63 | -23.29 | 73.29 | -139.31 | 4.20 | -28.69 | 3.7 |
| 23Q3 (19) | 12.22 | -5.27 | -5.34 | -1.66 | -5.73 | -1609.09 | -0.89 | 8.25 | -302.27 | -1.16 | -84.13 | -544.44 | -1.32 | -91.3 | -500.0 | -0.30 | -275.0 | -2900.0 | 0.35 | 12.9 | -14.63 | 2.04 | -9.73 | -26.88 | 212.87 | -12.83 | 5.76 | 187.21 | 16.84 | 648.84 | -87.21 | -44.8 | -216.28 | 5.89 | -7.68 | -8.82 |
| 23Q2 (18) | 12.90 | 9.23 | 10.54 | -1.57 | -35.34 | -109.33 | -0.97 | -142.5 | -170.8 | -0.63 | 21.25 | -186.3 | -0.69 | 28.13 | -163.3 | -0.08 | 55.56 | -118.6 | 0.31 | -13.89 | -35.42 | 2.26 | -10.67 | -34.68 | 244.20 | -1.8 | 12.8 | 160.23 | -44.33 | 391.84 | -60.23 | 67.93 | -138.88 | 6.38 | 11.15 | 16.64 |
| 23Q1 (17) | 11.81 | 10.68 | -3.51 | -1.16 | -1388.89 | -11700.0 | -0.40 | -290.48 | -242.86 | -0.80 | -1242.86 | -207.69 | -0.96 | -900.0 | -140.0 | -0.18 | -238.46 | -125.0 | 0.36 | -29.41 | -26.53 | 2.53 | 20.48 | 15.0 | 248.68 | 15.63 | 23.5 | 287.80 | 606.43 | 9397.56 | -187.80 | -416.92 | -293.67 | 5.74 | 41.73 | 15.73 |
| 22Q4 (16) | 10.67 | -17.35 | -0.47 | 0.09 | -18.18 | 120.45 | 0.21 | -52.27 | 240.0 | 0.07 | 138.89 | 105.0 | 0.12 | 154.55 | 103.67 | 0.13 | 1400.0 | 114.61 | 0.51 | 24.39 | -23.88 | 2.10 | -24.73 | 47.89 | 215.07 | 6.85 | -1.87 | 40.74 | 62.96 | -85.31 | 59.26 | -20.99 | 133.43 | 4.05 | -37.31 | -4.71 |
| 22Q3 (15) | 12.91 | 10.63 | 6.96 | 0.11 | 114.67 | -79.63 | 0.44 | -67.88 | -48.84 | -0.18 | -124.66 | -127.69 | -0.22 | -120.18 | -112.36 | -0.01 | -102.33 | -102.04 | 0.41 | -14.58 | -36.92 | 2.79 | -19.36 | 8.14 | 201.28 | -7.03 | -32.26 | 25.00 | 145.54 | -60.48 | 75.00 | -51.58 | 104.17 | 6.46 | 18.1 | 26.17 |
| 22Q2 (14) | 11.67 | -4.66 | -0.68 | -0.75 | -7600.0 | -189.29 | 1.37 | 389.29 | 90.28 | 0.73 | 380.77 | 108.57 | 1.09 | 372.5 | 7.92 | 0.43 | 637.5 | 38.71 | 0.48 | -2.04 | -31.43 | 3.46 | 57.27 | 45.38 | 216.49 | 7.51 | -35.46 | -54.90 | -1911.76 | -147.06 | 154.90 | 59.74 | 1029.41 | 5.47 | 10.28 | 15.64 |
| 22Q1 (13) | 12.24 | 14.18 | 7.75 | 0.01 | 102.27 | -99.19 | 0.28 | 286.67 | -81.94 | -0.26 | 81.43 | -120.97 | -0.40 | 87.77 | -111.4 | -0.08 | 91.01 | -108.42 | 0.49 | -26.87 | -30.99 | 2.20 | 54.93 | -32.72 | 201.36 | -8.13 | -30.34 | 3.03 | -98.91 | -96.2 | 96.97 | 154.7 | 379.46 | 4.96 | 16.71 | 11.21 |
| 21Q4 (12) | 10.72 | -11.18 | -0.37 | -0.44 | -181.48 | -181.48 | -0.15 | -117.44 | -140.54 | -1.40 | -315.38 | -1372.73 | -3.27 | -283.71 | -1090.91 | -0.89 | -281.63 | -656.25 | 0.67 | 3.08 | -16.25 | 1.42 | -44.96 | -27.18 | 219.17 | -26.24 | -27.69 | 277.27 | 338.27 | 87.57 | -177.27 | -582.58 | -270.66 | 4.25 | -16.99 | 3.41 |
| 21Q3 (11) | 12.07 | 2.72 | 6.06 | 0.54 | -35.71 | 35.0 | 0.86 | 19.44 | 132.43 | 0.65 | 85.71 | 20.37 | 1.78 | 76.24 | 23.61 | 0.49 | 58.06 | 13.95 | 0.65 | -7.14 | -4.41 | 2.58 | 8.4 | 11.69 | 297.13 | -11.41 | 5.34 | 63.27 | -45.77 | -41.36 | 36.73 | 320.41 | 797.96 | 5.12 | 8.25 | 13.78 |
| 21Q2 (10) | 11.75 | 3.43 | 1.12 | 0.84 | -32.26 | 37.7 | 0.72 | -53.55 | 1.41 | 0.35 | -71.77 | -25.53 | 1.01 | -71.23 | -21.09 | 0.31 | -67.37 | -20.51 | 0.70 | -1.41 | 4.48 | 2.38 | -27.22 | -9.85 | 335.41 | 16.04 | 11.91 | 116.67 | 46.24 | 37.37 | -16.67 | -182.41 | -210.61 | 4.73 | 6.05 | 0 |
| 21Q1 (9) | 11.36 | 5.58 | -4.62 | 1.24 | 129.63 | -8.82 | 1.55 | 318.92 | 13.14 | 1.24 | 1027.27 | 29.17 | 3.51 | 963.64 | 27.64 | 0.95 | 493.75 | 26.67 | 0.71 | -11.25 | 1.43 | 3.27 | 67.69 | 1.55 | 289.05 | -4.63 | -6.72 | 79.78 | -46.03 | -19.12 | 20.22 | 142.29 | 2873.03 | 4.46 | 8.52 | -18.91 |
| 20Q4 (8) | 10.76 | -5.45 | -0.37 | 0.54 | 35.0 | 20.0 | 0.37 | 0.0 | 2.78 | 0.11 | -79.63 | -52.17 | 0.33 | -77.08 | -54.17 | 0.16 | -62.79 | -38.46 | 0.80 | 17.65 | 6.67 | 1.95 | -15.58 | -6.7 | 303.08 | 7.44 | -0.64 | 147.83 | 37.01 | 16.56 | -47.83 | -808.7 | -96.09 | 4.11 | -8.67 | 39.32 |
| 20Q3 (7) | 11.38 | -2.07 | -6.49 | 0.40 | -34.43 | -63.96 | 0.37 | -47.89 | -64.08 | 0.54 | 14.89 | -1.82 | 1.44 | 12.5 | -0.69 | 0.43 | 10.26 | 0.0 | 0.68 | 1.49 | 6.25 | 2.31 | -12.5 | -26.67 | 282.08 | -5.88 | -10.23 | 107.89 | 27.04 | -0.33 | -5.26 | -134.93 | 36.18 | 4.50 | 0 | -14.45 |
| 20Q2 (6) | 11.62 | -2.43 | -4.91 | 0.61 | -55.15 | 12.96 | 0.71 | -48.18 | 69.05 | 0.47 | -51.04 | 88.0 | 1.28 | -53.45 | 103.17 | 0.39 | -48.0 | 62.5 | 0.67 | -4.29 | 9.84 | 2.64 | -18.01 | -0.75 | 299.71 | -3.28 | -4.75 | 84.93 | -13.9 | -33.14 | 15.07 | 2115.07 | 155.75 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 11.91 | 10.28 | -2.93 | 1.36 | 202.22 | 70.0 | 1.37 | 280.56 | 124.59 | 0.96 | 317.39 | 113.33 | 2.75 | 281.94 | 129.17 | 0.75 | 188.46 | 78.57 | 0.70 | -6.67 | -1.41 | 3.22 | 54.07 | 15.83 | 309.87 | 1.59 | -3.31 | 98.64 | -22.23 | -25.35 | 0.68 | 102.79 | 102.24 | 5.50 | 86.44 | 0.18 |
| 19Q4 (4) | 10.80 | -11.26 | 0.0 | 0.45 | -59.46 | 0.0 | 0.36 | -65.05 | 0.0 | 0.23 | -58.18 | 0.0 | 0.72 | -50.34 | 0.0 | 0.26 | -39.53 | 0.0 | 0.75 | 17.19 | 0.0 | 2.09 | -33.65 | 0.0 | 305.03 | -2.93 | 0.0 | 126.83 | 17.17 | 0.0 | -24.39 | -195.73 | 0.0 | 2.95 | -43.92 | 0.0 |
| 19Q3 (3) | 12.17 | -0.41 | 0.0 | 1.11 | 105.56 | 0.0 | 1.03 | 145.24 | 0.0 | 0.55 | 120.0 | 0.0 | 1.45 | 130.16 | 0.0 | 0.43 | 79.17 | 0.0 | 0.64 | 4.92 | 0.0 | 3.15 | 18.42 | 0.0 | 314.24 | -0.14 | 0.0 | 108.25 | -14.78 | 0.0 | -8.25 | 69.48 | 0.0 | 5.26 | -10.09 | 0.0 |
| 19Q2 (2) | 12.22 | -0.41 | 0.0 | 0.54 | -32.5 | 0.0 | 0.42 | -31.15 | 0.0 | 0.25 | -44.44 | 0.0 | 0.63 | -47.5 | 0.0 | 0.24 | -42.86 | 0.0 | 0.61 | -14.08 | 0.0 | 2.66 | -4.32 | 0.0 | 314.67 | -1.81 | 0.0 | 127.03 | -3.87 | 0.0 | -27.03 | 10.97 | 0.0 | 5.85 | 6.56 | 0.0 |
| 19Q1 (1) | 12.27 | 0.0 | 0.0 | 0.80 | 0.0 | 0.0 | 0.61 | 0.0 | 0.0 | 0.45 | 0.0 | 0.0 | 1.20 | 0.0 | 0.0 | 0.42 | 0.0 | 0.0 | 0.71 | 0.0 | 0.0 | 2.78 | 0.0 | 0.0 | 320.48 | 0.0 | 0.0 | 132.14 | 0.0 | 0.0 | -30.36 | 0.0 | 0.0 | 5.49 | 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) | 11.60 | -1.69 | -1.77 | 0 | 2.17 | 32.81 | -1.13 | 0 | -1.29 | 0 | -6.21 | 0 | -1.50 | 0 | 1.52 | -16.02 | 1.72 | -34.1 | 220.99 | 2.75 | 156.90 | 0 | -56.90 | 0 | 20.77 | -4.91 | 5.46 | 6.02 |
| 2022 (9) | 11.80 | 3.15 | -0.13 | 0 | 1.63 | 11.6 | 0.56 | -20.0 | 0.09 | -30.77 | 0.54 | -49.06 | 0.44 | -15.38 | 1.81 | -23.95 | 2.61 | 10.59 | 215.07 | -1.87 | -23.35 | 0 | 123.35 | 331.08 | 21.84 | 29.3 | 5.15 | 11.47 |
| 2021 (8) | 11.44 | 0.53 | 0.50 | -30.56 | 1.46 | -9.82 | 0.70 | 1.45 | 0.13 | -74.0 | 1.06 | -81.17 | 0.52 | -68.86 | 2.38 | -14.08 | 2.36 | -5.98 | 219.17 | -27.69 | 71.09 | -31.61 | 28.61 | 0 | 16.89 | 1858.34 | 4.62 | 0.22 |
| 2020 (7) | 11.38 | -3.56 | 0.72 | 1.41 | 1.62 | -10.49 | 0.69 | 15.0 | 0.50 | 38.89 | 5.63 | 42.89 | 1.67 | 14.38 | 2.77 | -5.78 | 2.51 | -4.92 | 303.08 | -0.64 | 103.95 | -13.25 | -3.95 | 0 | 0.86 | -14.54 | 4.61 | -3.35 |
| 2019 (6) | 11.80 | -5.07 | 0.71 | 0 | 1.81 | 240.88 | 0.60 | 0 | 0.36 | 0 | 3.94 | 0 | 1.46 | 0 | 2.94 | -3.29 | 2.64 | 0 | 305.03 | 34.97 | 119.83 | 17.95 | -19.83 | 0 | 1.01 | 302.32 | 4.77 | -12.96 |
| 2018 (5) | 12.43 | -17.63 | -4.99 | 0 | 0.53 | -0.35 | -4.91 | 0 | -5.11 | 0 | -41.20 | 0 | -15.34 | 0 | 3.04 | 14.29 | -4.23 | 0 | 226.00 | 80.21 | 101.59 | 7.39 | -1.59 | 0 | 0.25 | 0 | 5.48 | -8.97 |
| 2017 (4) | 15.09 | -11.86 | -0.71 | 0 | 0.53 | 0.29 | -0.76 | 0 | -1.33 | 0 | -7.03 | 0 | -3.52 | 0 | 2.66 | 5.98 | -0.13 | 0 | 125.41 | 65.58 | 94.59 | -4.51 | 5.41 | 476.22 | 0.00 | 0 | 6.02 | -11.21 |
| 2016 (3) | 17.12 | -0.41 | 4.10 | -10.87 | 0.53 | 4.07 | 4.14 | -12.47 | 3.20 | -14.21 | 14.07 | -30.83 | 8.06 | -22.65 | 2.51 | -10.36 | 4.74 | -10.06 | 75.74 | 2.56 | 99.06 | 1.98 | 0.94 | -66.17 | 0.00 | 0 | 6.78 | 1.5 |
| 2015 (2) | 17.19 | -1.26 | 4.60 | 1.1 | 0.51 | -4.07 | 4.73 | -0.84 | 3.73 | -2.61 | 20.34 | -35.9 | 10.42 | -20.09 | 2.80 | -17.65 | 5.27 | -1.31 | 73.85 | -47.8 | 97.13 | 1.75 | 2.77 | -38.87 | 0.00 | 0 | 6.68 | 0.6 |
| 2014 (1) | 17.41 | 0 | 4.55 | 0 | 0.53 | -2.32 | 4.77 | 0 | 3.83 | 0 | 31.73 | 0 | 13.04 | 0 | 3.40 | -0.29 | 5.34 | 11.02 | 141.47 | -2.94 | 95.46 | -0.94 | 4.54 | 25.01 | 0.00 | 0 | 6.64 | -8.16 |
