- 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) | 21.48 | -33.58 | -31.59 | -61.33 | -226.05 | -613200.0 | -66.34 | -433.28 | -3669.32 | -64.58 | -381.58 | -4176.82 | -11.97 | -221.77 | -1963.79 | -6.79 | -188.94 | -2021.88 | 0.11 | -38.89 | -56.0 | -58.38 | -608.5 | -5767.96 | 94.27 | 68.91 | 124.29 | 92.17 | -39.13 | 0 | 7.83 | 115.22 | -91.2 | 51.27 | 40.77 | 166.61 |
| 23Q3 (19) | 32.34 | 178.31 | 7.58 | -18.81 | 56.03 | -867.76 | -12.44 | 67.83 | -359.71 | -13.41 | 64.07 | -366.6 | -3.72 | 54.52 | -265.33 | -2.35 | 57.5 | -269.06 | 0.18 | 20.0 | -33.33 | -8.24 | 75.59 | -216.55 | 55.81 | 2.55 | -13.93 | 151.43 | 36.73 | 181.22 | -51.43 | -378.29 | -202.86 | 36.42 | -8.19 | 110.28 |
| 23Q2 (18) | 11.62 | -24.0 | -58.93 | -42.78 | 22.22 | -484.43 | -38.67 | 31.52 | -757.43 | -37.32 | 31.62 | -835.34 | -8.18 | 7.36 | -519.7 | -5.53 | 11.09 | -600.0 | 0.15 | 36.36 | -28.57 | -33.75 | 32.5 | -2211.64 | 54.42 | 37.08 | -18.92 | 110.75 | 13.83 | -29.86 | -10.75 | -497.85 | 82.97 | 39.67 | -20.68 | 73.76 |
| 23Q1 (17) | 15.29 | -51.31 | -54.75 | -55.00 | -549900.0 | -6975.0 | -56.47 | -3108.52 | -1927.51 | -54.58 | -3514.57 | -5153.7 | -8.83 | -1422.41 | -2307.5 | -6.22 | -1843.75 | -2173.33 | 0.11 | -56.0 | -56.0 | -50.00 | -4954.37 | -1010.75 | 39.70 | -5.54 | -26.81 | 97.30 | 0 | 264.86 | 2.70 | -96.96 | -96.31 | 50.01 | 160.06 | 137.35 |
| 22Q4 (16) | 31.40 | 4.46 | 18.62 | -0.01 | -100.41 | 99.7 | -1.76 | -136.74 | 55.22 | -1.51 | -130.02 | 61.48 | -0.58 | -125.78 | 63.29 | -0.32 | -123.02 | 69.23 | 0.25 | -7.41 | -7.41 | 1.03 | -85.43 | 165.61 | 42.03 | -35.18 | 1.87 | -0.00 | -100.0 | -100.0 | 88.89 | 77.78 | 492.59 | 19.23 | 11.03 | 5.6 |
| 22Q3 (15) | 30.06 | 6.26 | -24.28 | 2.45 | 133.47 | 66.67 | 4.79 | 206.21 | 133.66 | 5.03 | 226.07 | 491.76 | 2.25 | 270.45 | 800.0 | 1.39 | 275.95 | 672.22 | 0.27 | 28.57 | 42.11 | 7.07 | 584.25 | 32.89 | 64.84 | -3.4 | 10.86 | 53.85 | -65.9 | -28.21 | 50.00 | 179.17 | 100.0 | 17.32 | -24.13 | -27.71 |
| 22Q2 (14) | 28.29 | -16.28 | -4.72 | -7.32 | -1015.0 | -73300.0 | -4.51 | -245.95 | -244.27 | -3.99 | -469.44 | -2593.75 | -1.32 | -430.0 | -2740.0 | -0.79 | -363.33 | -2075.0 | 0.21 | -16.0 | 5.0 | -1.46 | -126.59 | -185.88 | 67.12 | 23.75 | 40.74 | 157.89 | 492.11 | 0 | -63.16 | -186.12 | -163.16 | 22.83 | 8.35 | 20.22 |
| 22Q1 (13) | 33.79 | 27.65 | -3.13 | 0.80 | 124.1 | 129.96 | 3.09 | 178.63 | 188.54 | 1.08 | 127.55 | 136.86 | 0.40 | 125.32 | 154.79 | 0.30 | 128.85 | 161.22 | 0.25 | -7.41 | 47.06 | 5.49 | 449.68 | 1793.1 | 54.24 | 31.46 | 25.58 | 26.67 | -68.63 | -64.44 | 73.33 | 388.89 | 193.33 | 21.07 | 15.71 | -23.63 |
| 21Q4 (12) | 26.47 | -33.32 | -22.4 | -3.32 | -325.85 | -155.06 | -3.93 | -291.71 | -212.61 | -3.92 | -561.18 | -181.67 | -1.58 | -732.0 | -191.33 | -1.04 | -677.78 | -191.23 | 0.27 | 42.11 | 17.39 | -1.57 | -129.51 | -126.08 | 41.26 | -29.46 | -17.69 | 85.00 | 13.33 | -51.83 | 15.00 | -40.0 | 119.62 | 18.21 | -24.0 | 19.49 |
| 21Q3 (11) | 39.70 | 33.72 | 21.41 | 1.47 | 14600.0 | -88.67 | 2.05 | 256.49 | -81.78 | 0.85 | 431.25 | -90.58 | 0.25 | 400.0 | -95.75 | 0.18 | 350.0 | -94.8 | 0.19 | -5.0 | -50.0 | 5.32 | 212.94 | -58.44 | 58.49 | 22.65 | 4.82 | 75.00 | 0 | -34.95 | 25.00 | -75.0 | 263.46 | 23.96 | 26.17 | 59.84 |
| 21Q2 (10) | 29.69 | -14.88 | -10.25 | 0.01 | 100.37 | -99.92 | -1.31 | 62.46 | -111.63 | 0.16 | 105.46 | -98.16 | 0.05 | 106.85 | -99.24 | 0.04 | 108.16 | -98.93 | 0.20 | 17.65 | -53.49 | 1.70 | 486.21 | -86.8 | 47.69 | 10.42 | -48.17 | -0.00 | -100.0 | -100.0 | 100.00 | 300.0 | 1000.0 | 18.99 | -31.17 | 53.39 |
| 21Q1 (9) | 34.88 | 2.26 | 19.66 | -2.67 | -144.28 | -133.25 | -3.49 | -200.0 | -140.77 | -2.93 | -161.04 | -138.5 | -0.73 | -142.2 | -113.47 | -0.49 | -142.98 | -116.07 | 0.17 | -26.09 | -57.5 | 0.29 | -95.18 | -97.2 | 43.19 | -13.84 | -31.04 | 75.00 | -57.5 | -19.12 | 25.00 | 132.69 | 358.33 | 27.59 | 81.04 | 92.8 |
| 20Q4 (8) | 34.11 | 4.31 | 0 | 6.03 | -53.51 | 0 | 3.49 | -68.98 | 0 | 4.80 | -46.78 | 0 | 1.73 | -70.58 | 0 | 1.14 | -67.05 | 0 | 0.23 | -39.47 | 0 | 6.02 | -52.97 | -60.0 | 50.13 | -10.16 | 0 | 176.47 | 53.06 | 50.26 | -76.47 | -400.0 | -311.03 | 15.24 | 1.67 | 0 |
| 20Q3 (7) | 32.70 | -1.15 | 0 | 12.97 | 3.43 | 0 | 11.25 | -0.09 | 0 | 9.02 | 3.92 | 0 | 5.88 | -10.64 | 0 | 3.46 | -7.24 | 0 | 0.38 | -11.63 | 0 | 12.80 | -0.62 | 118.06 | 55.80 | -39.35 | 0 | 115.29 | 2.62 | 29.71 | -15.29 | -37.65 | -191.76 | 14.99 | 21.08 | 0 |
| 20Q2 (6) | 33.08 | 13.48 | 17.64 | 12.54 | 56.16 | 352.71 | 11.26 | 31.54 | 135.07 | 8.68 | 14.06 | 111.71 | 6.58 | 21.4 | 163.2 | 3.73 | 22.3 | 198.4 | 0.43 | 7.5 | 43.33 | 12.88 | 24.32 | 81.41 | 92.01 | 46.91 | -6.13 | 112.35 | 21.16 | 100.62 | -11.11 | -303.7 | -127.78 | 12.38 | -13.49 | -25.73 |
| 20Q1 (5) | 29.15 | 0 | 8.2 | 8.03 | 0 | 7.35 | 8.56 | 0 | 7.94 | 7.61 | 0 | 14.09 | 5.42 | 0 | -10.26 | 3.05 | 0 | 6.27 | 0.40 | 0 | -4.76 | 10.36 | -31.16 | 8.71 | 62.63 | 0 | -42.71 | 92.73 | -21.04 | -0.77 | 5.45 | 129.32 | 10.91 | 14.31 | 0 | 16.34 |
| 19Q4 (4) | 0.00 | 0 | 0.0 | 0.00 | 0 | 0.0 | 0.00 | 0 | 0.0 | 0.00 | 0 | 0.0 | 0.00 | 0 | 0.0 | 0.00 | 0 | 0.0 | 0.00 | 0 | 0.0 | 15.05 | 156.39 | 0.0 | 0.00 | 0 | 0.0 | 117.44 | 32.12 | 0.0 | -18.60 | -211.63 | 0.0 | 0.00 | 0 | 0.0 |
| 19Q3 (3) | 0.00 | -100.0 | 0.0 | 0.00 | -100.0 | 0.0 | 0.00 | -100.0 | 0.0 | 0.00 | -100.0 | 0.0 | 0.00 | -100.0 | 0.0 | 0.00 | -100.0 | 0.0 | 0.00 | -100.0 | 0.0 | 5.87 | -17.32 | 0.0 | 0.00 | -100.0 | 0.0 | 88.89 | 58.73 | 0.0 | 16.67 | -58.33 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q2 (2) | 28.12 | 4.38 | 0.0 | 2.77 | -62.97 | 0.0 | 4.79 | -39.6 | 0.0 | 4.10 | -38.53 | 0.0 | 2.50 | -58.61 | 0.0 | 1.25 | -56.45 | 0.0 | 0.30 | -28.57 | 0.0 | 7.10 | -25.5 | 0.0 | 98.02 | -10.34 | 0.0 | 56.00 | -40.07 | 0.0 | 40.00 | 713.33 | 0.0 | 16.67 | 35.53 | 0.0 |
| 19Q1 (1) | 26.94 | 0.0 | 0.0 | 7.48 | 0.0 | 0.0 | 7.93 | 0.0 | 0.0 | 6.67 | 0.0 | 0.0 | 6.04 | 0.0 | 0.0 | 2.87 | 0.0 | 0.0 | 0.42 | 0.0 | 0.0 | 9.53 | 0.0 | 0.0 | 109.32 | 0.0 | 0.0 | 93.44 | 0.0 | 0.0 | 4.92 | 0.0 | 0.0 | 12.30 | 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) | 20.86 | -32.58 | -41.55 | 0 | 4.95 | 106.8 | -39.74 | 0 | -38.91 | 0 | -32.26 | 0 | -19.52 | 0 | 0.51 | -52.78 | -34.20 | 0 | 94.27 | 124.29 | 104.53 | 0 | -4.53 | 0 | 0.12 | 4.13 | 43.19 | 117.04 |
| 2022 (9) | 30.94 | -3.82 | -0.67 | 0 | 2.39 | -18.77 | 0.73 | 0 | 0.48 | 0 | 0.74 | 0 | 0.68 | 0 | 1.08 | 25.58 | 3.33 | 164.29 | 42.03 | 1.87 | -92.86 | 0 | 192.86 | 521.43 | 0.11 | 0 | 19.90 | -8.42 |
| 2021 (8) | 32.17 | -0.12 | -1.22 | 0 | 2.95 | 64.0 | -1.77 | 0 | -1.57 | 0 | -1.96 | 0 | -1.30 | 0 | 0.86 | -38.57 | 1.26 | -88.47 | 41.26 | -17.69 | 68.97 | -38.95 | 31.03 | 0 | 0.00 | 0 | 21.73 | 53.57 |
| 2020 (7) | 32.21 | 4.68 | 10.32 | 33.85 | 1.80 | -4.31 | 9.12 | 17.83 | 7.78 | 19.14 | 17.56 | -4.77 | 10.97 | 15.47 | 1.40 | -2.78 | 10.93 | 12.56 | 50.13 | -35.22 | 112.97 | 13.57 | -13.39 | 0 | 0.00 | 0 | 14.15 | -9.53 |
| 2019 (6) | 30.77 | 14.64 | 7.71 | -14.33 | 1.88 | 164.01 | 7.74 | -15.87 | 6.53 | -10.79 | 18.44 | -52.65 | 9.50 | -48.62 | 1.44 | -42.4 | 9.71 | -3.0 | 77.39 | -34.54 | 99.47 | 1.59 | 0.53 | -77.89 | 0.00 | 0 | 15.64 | 44.15 |
| 2018 (5) | 26.84 | -12.74 | 9.00 | 63.64 | 0.71 | -6.79 | 9.20 | 59.72 | 7.32 | 75.54 | 38.94 | 162.05 | 18.49 | 147.19 | 2.50 | 41.24 | 10.01 | 52.59 | 118.22 | 12.01 | 97.92 | 2.45 | 2.38 | -46.19 | 0.00 | 0 | 10.85 | -28.71 |
| 2017 (4) | 30.76 | 3.36 | 5.50 | 0 | 0.76 | -8.32 | 5.76 | 620.0 | 4.17 | 826.67 | 14.86 | 1148.74 | 7.48 | 938.89 | 1.77 | 17.22 | 6.56 | 295.18 | 105.54 | 9.11 | 95.58 | 0 | 4.42 | -97.88 | 0.00 | 0 | 15.22 | -18.17 |
| 2016 (3) | 29.76 | 4.97 | -0.93 | 0 | 0.83 | 15.07 | 0.80 | 0 | 0.45 | 0 | 1.19 | 0 | 0.72 | 0 | 1.51 | -5.03 | 1.66 | 0 | 96.73 | 85.06 | -108.33 | 0 | 208.33 | 0 | 0.00 | 0 | 18.60 | 7.76 |
| 2015 (2) | 28.35 | 1.61 | -1.81 | 0 | 0.72 | 74.44 | -1.07 | 0 | -1.07 | 0 | -4.56 | 0 | -2.44 | 0 | 1.59 | -29.96 | -0.13 | 0 | 52.27 | -41.62 | 175.00 | 70.73 | -68.75 | 0 | 0.00 | 0 | 17.26 | 26.73 |
| 2014 (1) | 27.90 | 0 | 3.39 | 0 | 0.41 | -11.58 | 3.30 | 0 | 1.78 | 0 | 9.59 | 0 | 4.99 | 0 | 2.27 | 14.65 | 3.90 | -6.7 | 89.54 | -15.78 | 102.50 | 78.26 | -2.50 | 0 | 0.00 | 0 | 13.62 | 6.91 |
