- 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) | 10.91 | -26.63 | -74.32 | 7.41 | -26.49 | -81.15 | 5.83 | -58.68 | -84.42 | 9.06 | -13.88 | -68.86 | 1.77 | -23.38 | -82.41 | 1.19 | -15.6 | -81.72 | 0.13 | 0.0 | -40.91 | 22.92 | -21.56 | -47.66 | 47.03 | -7.33 | -9.85 | 127.07 | 77.85 | 20.92 | -27.26 | -195.46 | -435.66 | 22.62 | -0.92 | 40.5 |
| 23Q3 (19) | 14.87 | -21.61 | -63.52 | 10.08 | -29.26 | -73.11 | 14.11 | -27.53 | -67.42 | 10.52 | -32.22 | -67.21 | 2.31 | -33.81 | -80.83 | 1.41 | -25.79 | -81.02 | 0.13 | 8.33 | -43.48 | 29.22 | -14.61 | -41.27 | 50.75 | -36.29 | -11.71 | 71.45 | -2.38 | -17.46 | 28.55 | 6.49 | 112.41 | 22.83 | -2.44 | 32.42 |
| 23Q2 (18) | 18.97 | -35.8 | -51.52 | 14.25 | -43.36 | -59.79 | 19.47 | -22.21 | -51.35 | 15.52 | -16.02 | -51.55 | 3.49 | -26.22 | -68.5 | 1.90 | -32.38 | -73.97 | 0.12 | -20.0 | -47.83 | 34.22 | -2.87 | -27.33 | 79.66 | -10.69 | 17.39 | 73.19 | -27.21 | -17.36 | 26.81 | 5064.94 | 134.44 | 23.40 | 7.0 | 20.99 |
| 23Q1 (17) | 29.55 | -30.45 | -20.2 | 25.16 | -36.0 | -23.46 | 25.03 | -33.09 | -30.1 | 18.48 | -36.47 | -30.71 | 4.73 | -52.98 | -48.08 | 2.81 | -56.84 | -57.49 | 0.15 | -31.82 | -40.0 | 35.23 | -19.55 | -18.18 | 89.19 | 70.96 | 143.49 | 100.54 | -4.33 | 9.55 | -0.54 | 89.39 | -106.58 | 21.87 | 35.84 | 4.79 |
| 22Q4 (16) | 42.49 | 4.24 | 27.98 | 39.31 | 4.85 | 32.54 | 37.41 | -13.62 | 28.96 | 29.09 | -9.32 | 20.91 | 10.06 | -16.51 | 9.71 | 6.51 | -12.38 | -1.21 | 0.22 | -4.35 | -18.52 | 43.79 | -11.98 | 21.94 | 52.17 | -9.24 | 33.09 | 105.09 | 21.41 | 2.79 | -5.09 | -137.85 | -124.83 | 16.10 | -6.61 | -20.65 |
| 22Q3 (15) | 40.76 | 4.17 | 30.52 | 37.49 | 5.78 | 36.38 | 43.31 | 8.22 | 50.07 | 32.08 | 0.16 | 45.42 | 12.05 | 8.75 | 37.4 | 7.43 | 1.78 | 20.62 | 0.23 | 0.0 | -17.86 | 49.75 | 5.65 | 39.08 | 57.48 | -15.3 | 44.64 | 86.56 | -2.26 | -9.09 | 13.44 | 17.53 | 180.83 | 17.24 | -10.86 | -14.27 |
| 22Q2 (14) | 39.13 | 5.67 | 44.98 | 35.44 | 7.82 | 53.89 | 40.02 | 11.76 | 72.72 | 32.03 | 20.1 | 71.74 | 11.08 | 21.62 | 61.52 | 7.30 | 10.44 | 48.37 | 0.23 | -8.0 | -11.54 | 47.09 | 9.36 | 56.13 | 67.86 | 85.26 | 46.0 | 88.56 | -3.5 | -10.88 | 11.44 | 39.35 | 1738.11 | 19.34 | -7.33 | -10.63 |
| 22Q1 (13) | 37.03 | 11.54 | 82.68 | 32.87 | 10.82 | 105.69 | 35.81 | 23.44 | 110.9 | 26.67 | 10.85 | 82.67 | 9.11 | -0.65 | 90.59 | 6.61 | 0.3 | 86.72 | 0.25 | -7.41 | 4.17 | 43.06 | 19.91 | 76.91 | 36.63 | -6.56 | 10.9 | 91.77 | -10.24 | -2.46 | 8.21 | 462.64 | 40.05 | 20.87 | 2.86 | -13.62 |
| 21Q4 (12) | 33.20 | 6.31 | 93.25 | 29.66 | 7.89 | 125.21 | 29.01 | 0.52 | 136.62 | 24.06 | 9.07 | 99.67 | 9.17 | 4.56 | 119.38 | 6.59 | 6.98 | 113.27 | 0.27 | -3.57 | 3.85 | 35.91 | 0.39 | 85.97 | 39.20 | -1.36 | 4.03 | 102.24 | 7.38 | -4.83 | -2.26 | -147.28 | 69.54 | 20.29 | 0.9 | -11.32 |
| 21Q3 (11) | 31.23 | 15.71 | 93.37 | 27.49 | 19.37 | 125.88 | 28.86 | 24.56 | 161.41 | 22.06 | 18.28 | 122.16 | 8.77 | 27.84 | 155.69 | 6.16 | 25.2 | 136.92 | 0.28 | 7.69 | 7.69 | 35.77 | 18.6 | 95.68 | 39.74 | -14.5 | 19.66 | 95.21 | -4.19 | -13.58 | 4.79 | 669.29 | 147.05 | 20.11 | -7.07 | -12.68 |
| 21Q2 (10) | 26.99 | 33.15 | 77.68 | 23.03 | 44.12 | 111.67 | 23.17 | 36.45 | 125.83 | 18.65 | 27.74 | 103.83 | 6.86 | 43.51 | 144.13 | 4.92 | 38.98 | 127.78 | 0.26 | 8.33 | 13.04 | 30.16 | 23.91 | 64.99 | 46.48 | 40.72 | 38.21 | 99.38 | 5.62 | -6.34 | 0.62 | -89.38 | 110.38 | 21.64 | -10.43 | 0 |
| 21Q1 (9) | 20.27 | 17.99 | 104.75 | 15.98 | 21.34 | 222.83 | 16.98 | 38.5 | 139.15 | 14.60 | 21.16 | 147.46 | 4.78 | 14.35 | 200.63 | 3.54 | 14.56 | 183.2 | 0.24 | -7.69 | 14.29 | 24.34 | 26.05 | 51.18 | 33.03 | -12.34 | 12.19 | 94.09 | -12.42 | 34.89 | 5.86 | 178.88 | -80.63 | 24.16 | 5.59 | -9.48 |
| 20Q4 (8) | 17.18 | 6.38 | 72.14 | 13.17 | 8.22 | 148.49 | 12.26 | 11.05 | 208.82 | 12.05 | 21.35 | 277.74 | 4.18 | 21.87 | 335.42 | 3.09 | 18.85 | 306.58 | 0.26 | 0.0 | 13.04 | 19.31 | 5.63 | 62.41 | 37.68 | 13.46 | 21.16 | 107.43 | -2.49 | -19.37 | -7.43 | 26.97 | 77.84 | 22.88 | -0.65 | 7.32 |
| 20Q3 (7) | 16.15 | 6.32 | 122.76 | 12.17 | 11.86 | 411.34 | 11.04 | 7.6 | 157.34 | 9.93 | 8.52 | 136.99 | 3.43 | 22.06 | 183.47 | 2.60 | 20.37 | 173.68 | 0.26 | 13.04 | 18.18 | 18.28 | 0.0 | 47.06 | 33.21 | -1.25 | 1.65 | 110.17 | 3.84 | 98.86 | -10.17 | -69.66 | -122.81 | 23.03 | 0 | -8.68 |
| 20Q2 (6) | 15.19 | 53.43 | 626.79 | 10.88 | 119.8 | 468.81 | 10.26 | 44.51 | 1781.97 | 9.15 | 55.08 | 1600.0 | 2.81 | 76.73 | 1856.25 | 2.16 | 72.8 | 2800.0 | 0.23 | 9.52 | 15.0 | 18.28 | 13.54 | 121.84 | 33.63 | 14.23 | -1.18 | 106.10 | 52.12 | -78.31 | -6.00 | -119.82 | 98.46 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 9.90 | -0.8 | 3400.0 | 4.95 | -6.6 | 184.04 | 7.10 | 78.84 | 259.91 | 5.90 | 84.95 | 232.88 | 1.59 | 65.63 | 269.15 | 1.25 | 64.47 | 278.57 | 0.21 | -8.7 | 23.53 | 16.10 | 35.41 | 169.68 | 29.44 | -5.34 | 12.45 | 69.75 | -47.65 | -47.4 | 30.25 | 190.23 | 192.74 | 26.69 | 25.19 | -9.03 |
| 19Q4 (4) | 9.98 | 37.66 | 0.0 | 5.30 | 122.69 | 0.0 | 3.97 | -7.46 | 0.0 | 3.19 | -23.87 | 0.0 | 0.96 | -20.66 | 0.0 | 0.76 | -20.0 | 0.0 | 0.23 | 4.55 | 0.0 | 11.89 | -4.34 | 0.0 | 31.10 | -4.81 | 0.0 | 133.24 | 140.49 | 0.0 | -33.52 | -175.17 | 0.0 | 21.32 | -15.46 | 0.0 |
| 19Q3 (3) | 7.25 | 246.89 | 0.0 | 2.38 | 180.68 | 0.0 | 4.29 | 803.28 | 0.0 | 4.19 | 786.89 | 0.0 | 1.21 | 856.25 | 0.0 | 0.95 | 1287.5 | 0.0 | 0.22 | 10.0 | 0.0 | 12.43 | 50.85 | 0.0 | 32.67 | -4.0 | 0.0 | 55.40 | -88.67 | 0.0 | 44.60 | 111.46 | 0.0 | 25.22 | -4.43 | 0.0 |
| 19Q2 (2) | 2.09 | 796.67 | 0.0 | -2.95 | 49.92 | 0.0 | -0.61 | 86.26 | 0.0 | -0.61 | 86.26 | 0.0 | -0.16 | 82.98 | 0.0 | -0.08 | 88.57 | 0.0 | 0.20 | 17.65 | 0.0 | 8.24 | 38.02 | 0.0 | 34.03 | 29.98 | 0.0 | 489.13 | 268.83 | 0.0 | -389.13 | -1093.05 | 0.0 | 26.39 | -10.05 | 0.0 |
| 19Q1 (1) | -0.30 | 0.0 | 0.0 | -5.89 | 0.0 | 0.0 | -4.44 | 0.0 | 0.0 | -4.44 | 0.0 | 0.0 | -0.94 | 0.0 | 0.0 | -0.70 | 0.0 | 0.0 | 0.17 | 0.0 | 0.0 | 5.97 | 0.0 | 0.0 | 26.18 | 0.0 | 0.0 | 132.62 | 0.0 | 0.0 | -32.62 | 0.0 | 0.0 | 29.34 | 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) | 19.35 | -51.64 | 14.98 | -58.93 | 13.95 | 107.66 | 16.82 | -57.12 | 13.77 | -54.15 | 11.45 | -72.22 | 7.66 | -72.79 | 0.56 | -40.43 | 30.82 | -32.99 | 47.03 | -9.85 | 89.07 | -4.18 | 10.93 | 55.16 | 0.00 | 0 | 22.64 | 24.12 |
| 2022 (9) | 40.01 | 40.39 | 36.47 | 48.01 | 6.72 | -3.43 | 39.23 | 56.48 | 30.03 | 48.22 | 41.22 | 41.89 | 28.15 | 33.86 | 0.94 | -9.62 | 45.99 | 43.32 | 52.17 | 33.09 | 92.95 | -5.43 | 7.05 | 311.91 | 0.00 | 0 | 18.24 | -14.65 |
| 2021 (8) | 28.50 | 90.76 | 24.64 | 130.93 | 6.96 | -8.64 | 25.07 | 141.29 | 20.26 | 112.82 | 29.05 | 144.12 | 21.03 | 135.5 | 1.04 | 11.83 | 32.09 | 77.0 | 39.20 | 4.03 | 98.29 | -4.22 | 1.71 | 0 | 0.00 | 0 | 21.37 | -10.7 |
| 2020 (7) | 14.94 | 185.66 | 10.67 | 4539.13 | 7.62 | -10.13 | 10.39 | 737.9 | 9.52 | 861.62 | 11.90 | 1033.33 | 8.93 | 830.21 | 0.93 | 14.81 | 18.13 | 82.21 | 37.68 | 21.16 | 102.62 | 456.48 | -2.60 | 0 | 0.00 | 0 | 23.93 | -5.19 |
| 2019 (6) | 5.23 | 332.23 | 0.23 | 0 | 8.47 | 2.71 | 1.24 | 0 | 0.99 | 0 | 1.05 | 0 | 0.96 | 0 | 0.81 | 10.96 | 9.95 | 52.37 | 31.10 | 11.03 | 18.44 | -90.92 | 81.56 | 0 | 0.00 | 0 | 25.24 | -3.18 |
| 2018 (5) | 1.21 | 0 | -4.11 | 0 | 8.25 | -13.35 | -2.03 | 0 | -2.03 | 0 | -1.93 | 0 | -1.32 | 0 | 0.73 | 14.06 | 6.53 | 166.53 | 28.01 | -10.85 | 203.08 | 119.72 | -103.08 | 0 | 0.01 | 0 | 26.07 | -2.43 |
| 2017 (4) | -1.15 | 0 | -6.79 | 0 | 9.52 | 2.04 | -7.34 | 0 | -7.35 | 0 | -6.11 | 0 | -4.57 | 0 | 0.64 | -1.54 | 2.45 | -65.3 | 31.42 | 11.46 | 92.43 | -72.71 | 7.57 | 0 | 0.00 | 0 | 26.72 | -6.34 |
| 2016 (3) | -2.05 | 0 | -8.04 | 0 | 9.33 | 5.85 | -2.37 | 0 | -2.38 | 0 | -1.98 | 0 | -1.50 | 0 | 0.65 | 3.17 | 7.06 | -43.38 | 28.19 | 3.26 | 338.73 | 0 | -238.73 | 0 | 0.00 | 0 | 28.53 | 5.67 |
| 2015 (2) | 3.91 | -26.5 | -2.20 | 0 | 8.82 | 6.51 | 3.61 | -36.78 | 2.88 | -37.66 | 2.29 | -48.19 | 1.85 | -48.47 | 0.63 | -18.18 | 12.47 | -11.5 | 27.30 | 12.53 | -60.95 | 0 | 160.95 | 55.35 | 0.00 | 0 | 27.00 | 9.71 |
| 2014 (1) | 5.32 | 0 | -0.21 | 0 | 8.28 | -10.75 | 5.71 | 0 | 4.62 | 0 | 4.42 | 0 | 3.59 | 0 | 0.77 | 1.32 | 14.09 | 100.14 | 24.26 | -6.69 | -3.60 | 0 | 103.60 | 0 | 0.00 | 0 | 24.61 | 4.9 |
