- 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 | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 21Q3 (20) | 0.00 | -100.0 | -100.0 | 0.00 | 100.0 | 100.0 | 0.00 | 100.0 | 100.0 | 0.00 | 100.0 | 100.0 | -6.44 | -203.77 | 24.15 | -3.81 | -204.8 | 40.84 | -0.07 | -216.67 | -275.0 | 47.49 | 387.82 | 125.46 | 61.63 | -15.52 | 82.88 | 82.30 | -30.65 | -4.9 | 17.70 | 194.74 | 31.48 | 0.00 | 0 | -100.0 |
| 21Q2 (19) | 7.55 | -74.29 | -69.85 | -27.02 | -295.09 | -980.8 | -22.86 | -262.94 | -1135.68 | -20.15 | -258.16 | -1474.22 | -2.12 | -158.56 | -715.38 | -1.25 | -151.44 | -792.86 | 0.06 | -68.42 | -60.0 | -16.50 | -200.49 | -388.97 | 72.95 | 32.28 | 150.52 | 118.68 | 20.26 | -10.99 | -18.68 | -1519.78 | 43.96 | 0.00 | -100.0 | 0 |
| 21Q1 (18) | 29.37 | -13.82 | 3.63 | 13.85 | 20.64 | 24.33 | 14.03 | 123.41 | 8.84 | 12.74 | 71.47 | 22.5 | 3.62 | 154.93 | -9.95 | 2.43 | 129.25 | -14.13 | 0.19 | 35.71 | -26.92 | 16.42 | 26.5 | -4.37 | 55.15 | 13.06 | 34.12 | 98.68 | -45.18 | 14.36 | 1.32 | 101.6 | -90.4 | 10.94 | 0 | -8.83 |
| 20Q4 (17) | 34.08 | 8.12 | 21.8 | 11.48 | 106.15 | 31.05 | 6.28 | 102.91 | -29.36 | 7.43 | 104.46 | 12.92 | 1.42 | 116.73 | -37.44 | 1.06 | 116.46 | -33.75 | 0.14 | 250.0 | -39.13 | 12.98 | 106.96 | -6.08 | 48.78 | 44.75 | -8.19 | 180.00 | 108.0 | 83.08 | -82.22 | -710.79 | -4992.22 | 0.00 | -100.0 | -100.0 |
| 20Q3 (16) | 31.52 | 25.88 | 98.99 | -186.72 | -7368.8 | -46.9 | -215.71 | -11560.0 | -81.51 | -166.48 | -12906.25 | -74.11 | -8.49 | -3165.38 | -160.43 | -6.44 | -4500.0 | -186.22 | 0.04 | -73.33 | 100.0 | -186.53 | -3366.73 | -167.04 | 33.70 | 15.73 | -28.54 | 86.54 | -35.1 | -18.96 | 13.46 | 140.38 | 298.25 | 215.65 | 0 | 52.87 |
| 20Q2 (15) | 25.04 | -11.64 | 62.28 | -2.50 | -122.44 | 90.84 | -1.85 | -114.35 | 89.73 | -1.28 | -112.31 | 91.43 | -0.26 | -106.47 | 85.79 | -0.14 | -104.95 | 88.03 | 0.15 | -42.31 | 87.5 | 5.71 | -66.74 | 217.25 | 29.12 | -29.18 | -13.44 | 133.33 | 54.51 | -12.38 | -33.33 | -343.21 | 36.11 | 0.00 | -100.0 | -100.0 |
| 20Q1 (14) | 28.34 | 1.29 | 33.05 | 11.14 | 27.17 | 14.14 | 12.89 | 44.99 | 39.05 | 10.40 | 58.05 | 64.82 | 4.02 | 77.09 | -0.99 | 2.83 | 76.88 | 14.11 | 0.26 | 13.04 | -29.73 | 17.17 | 24.24 | 40.85 | 41.12 | -22.6 | -27.66 | 86.29 | -12.23 | -18.04 | 13.71 | 715.48 | 359.35 | 12.00 | -32.28 | 23.33 |
| 19Q4 (13) | 27.98 | 76.64 | 9.9 | 8.76 | 106.89 | -29.3 | 8.89 | 107.48 | -31.03 | 6.58 | 106.88 | -17.13 | 2.27 | 169.63 | -57.09 | 1.60 | 171.11 | -46.49 | 0.23 | 1050.0 | -36.11 | 13.82 | 119.79 | -11.41 | 53.13 | 12.66 | -44.6 | 98.32 | -7.93 | 2.31 | 1.68 | 124.75 | -56.95 | 17.72 | -87.44 | 80.82 |
| 19Q3 (12) | 15.84 | 2.66 | -16.5 | -127.11 | -365.6 | -113.2 | -118.84 | -559.86 | -48.77 | -95.62 | -540.03 | -47.93 | -3.26 | -78.14 | 30.64 | -2.25 | -92.31 | 16.67 | 0.02 | -75.0 | -50.0 | -69.85 | -1334.29 | -18.09 | 47.16 | 40.19 | -40.34 | 106.79 | -29.82 | 43.44 | -6.79 | 86.99 | -127.04 | 141.07 | 284.49 | 35.5 |
| 19Q2 (11) | 15.43 | -27.56 | -5.22 | -27.30 | -379.71 | -15.92 | -18.01 | -294.28 | 23.39 | -14.94 | -336.77 | 27.72 | -1.83 | -145.07 | 35.11 | -1.17 | -147.18 | 31.18 | 0.08 | -78.38 | -11.11 | -4.87 | -139.95 | 60.18 | 33.64 | -40.82 | -37.8 | 152.17 | 44.54 | 52.17 | -52.17 | -887.29 | 0 | 36.69 | 277.08 | -9.59 |
| 19Q1 (10) | 21.30 | -16.34 | 29.88 | 9.76 | -21.23 | 127.51 | 9.27 | -28.08 | 151.9 | 6.31 | -20.53 | 284.76 | 4.06 | -23.25 | 279.44 | 2.48 | -17.06 | 235.14 | 0.37 | 2.78 | -5.13 | 12.19 | -21.86 | 108.73 | 56.84 | -40.73 | -6.91 | 105.28 | 9.56 | -10.01 | -5.28 | -235.37 | 66.97 | 9.73 | -0.71 | 10.82 |
| 18Q4 (9) | 25.46 | 34.21 | 19.7 | 12.39 | 120.78 | 365.79 | 12.89 | 116.14 | 324.01 | 7.94 | 112.28 | 1456.86 | 5.29 | 212.55 | 2545.0 | 2.99 | 210.74 | 1658.82 | 0.36 | 800.0 | 44.0 | 15.60 | 126.37 | 159.14 | 95.90 | 21.32 | 29.98 | 96.10 | 29.08 | 9.2 | 3.90 | -84.45 | -67.47 | 9.80 | -90.59 | -43.19 |
| 18Q3 (8) | 18.97 | 16.52 | 1.77 | -59.62 | -153.16 | 5.4 | -79.88 | -239.77 | -16.75 | -64.64 | -212.72 | -25.2 | -4.70 | -66.67 | -57.19 | -2.70 | -58.82 | -27.36 | 0.04 | -55.56 | 0.0 | -59.15 | -383.65 | -19.28 | 79.05 | 46.17 | 86.97 | 74.45 | -25.55 | -18.69 | 25.11 | 0 | 220.64 | 104.11 | 156.55 | 15.54 |
| 18Q2 (7) | 16.28 | -0.73 | -21.99 | -23.55 | -648.95 | -4.67 | -23.51 | -738.86 | -61.36 | -20.67 | -1360.37 | -68.19 | -2.82 | -363.55 | -136.97 | -1.70 | -329.73 | -88.89 | 0.09 | -76.92 | 28.57 | -12.23 | -309.42 | 0 | 54.08 | -11.43 | 41.42 | 100.00 | -14.53 | -35.42 | -0.00 | 100.0 | 100.0 | 40.58 | 362.19 | -5.56 |
| 18Q1 (6) | 16.40 | -22.9 | -36.11 | 4.29 | 61.28 | -67.28 | 3.68 | 21.05 | -72.21 | 1.64 | 221.57 | -80.57 | 1.07 | 435.0 | -76.79 | 0.74 | 335.29 | -79.21 | 0.39 | 56.0 | -7.14 | 5.84 | -2.99 | -61.6 | 61.06 | -17.24 | 127.67 | 117.00 | 32.95 | 18.05 | -16.00 | -233.33 | -1892.0 | 8.78 | -49.1 | 11.42 |
| 17Q4 (5) | 21.27 | 14.11 | -22.03 | 2.66 | 104.22 | -77.87 | 3.04 | 104.44 | -70.88 | 0.51 | 100.99 | -90.71 | 0.20 | 106.69 | -90.91 | 0.17 | 108.02 | -90.0 | 0.25 | 525.0 | -19.35 | 6.02 | 112.14 | -47.15 | 73.78 | 74.5 | 124.19 | 88.00 | -3.89 | -23.55 | 12.00 | 53.23 | 179.45 | 17.25 | -80.86 | 38.78 |
| 17Q3 (4) | 18.64 | -10.69 | 0.0 | -63.02 | -180.09 | 0.0 | -68.42 | -369.6 | 0.0 | -51.63 | -320.1 | 0.0 | -2.99 | -151.26 | 0.0 | -2.12 | -135.56 | 0.0 | 0.04 | -42.86 | 0.0 | -49.59 | 0 | 0.0 | 42.28 | 10.56 | 0.0 | 91.57 | -40.86 | 0.0 | 7.83 | 114.28 | 0.0 | 90.11 | 109.7 | 0.0 |
| 17Q2 (3) | 20.87 | -18.7 | 0.0 | -22.50 | -271.62 | 0.0 | -14.57 | -210.05 | 0.0 | -12.29 | -245.62 | 0.0 | -1.19 | -125.81 | 0.0 | -0.90 | -125.28 | 0.0 | 0.07 | -83.33 | 0.0 | 0.00 | -100.0 | 0.0 | 38.24 | 42.58 | 0.0 | 154.84 | 56.23 | 0.0 | -54.84 | -6241.94 | 0.0 | 42.97 | 445.3 | 0.0 |
| 17Q1 (2) | 25.67 | -5.9 | 0.0 | 13.11 | 9.07 | 0.0 | 13.24 | 26.82 | 0.0 | 8.44 | 53.73 | 0.0 | 4.61 | 109.55 | 0.0 | 3.56 | 109.41 | 0.0 | 0.42 | 35.48 | 0.0 | 15.21 | 33.54 | 0.0 | 26.82 | -18.51 | 0.0 | 99.11 | -13.9 | 0.0 | 0.89 | 105.91 | 0.0 | 7.88 | -36.6 | 0.0 |
| 16Q4 (1) | 27.28 | 0.0 | 0.0 | 12.02 | 0.0 | 0.0 | 10.44 | 0.0 | 0.0 | 5.49 | 0.0 | 0.0 | 2.20 | 0.0 | 0.0 | 1.70 | 0.0 | 0.0 | 0.31 | 0.0 | 0.0 | 11.39 | 0.0 | 0.0 | 32.91 | 0.0 | 0.0 | 115.10 | 0.0 | 0.0 | -15.10 | 0.0 | 0.0 | 12.43 | 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 | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2020 (10) | 28.97 | 29.21 | -3.99 | 0 | 6.43 | 25.35 | -5.87 | 0 | -3.72 | 0 | -3.14 | 0 | -1.87 | 0 | 0.56 | -16.42 | 1.24 | -85.19 | 48.78 | -8.19 | 67.89 | 18.55 | 32.11 | -26.43 | 0.39 | 7.01 | 0.00 | 0 |
| 2019 (9) | 22.42 | 10.39 | 1.35 | -38.36 | 5.13 | 54.03 | 2.38 | 98.33 | 1.04 | 0 | 1.22 | 0 | 1.10 | 0 | 0.67 | -18.29 | 8.37 | 58.52 | 53.13 | -44.6 | 57.27 | -68.61 | 43.64 | 0 | 0.37 | 30.86 | 18.88 | 14.29 |
| 2018 (8) | 20.31 | -13.21 | 2.19 | -16.73 | 3.33 | -9.88 | 1.20 | -63.19 | -0.82 | 0 | -1.24 | 0 | -0.22 | 0 | 0.82 | 12.33 | 5.28 | -25.95 | 95.90 | 29.98 | 182.43 | 125.19 | -82.43 | 0 | 0.28 | -19.2 | 16.52 | -9.48 |
| 2017 (7) | 23.40 | -19.5 | 2.63 | -68.76 | 3.70 | -23.23 | 3.26 | -88.38 | 0.93 | -94.73 | 1.03 | -94.49 | 0.73 | -94.22 | 0.73 | 2.82 | 7.13 | -78.45 | 73.78 | 124.19 | 81.01 | 169.78 | 19.62 | -71.96 | 0.35 | 0 | 18.25 | 3.05 |
| 2016 (6) | 29.07 | 1.43 | 8.42 | -11.92 | 4.82 | 4.12 | 28.06 | 131.9 | 17.66 | 129.65 | 18.71 | 80.95 | 12.64 | 96.88 | 0.71 | -13.41 | 33.09 | 95.91 | 32.91 | -49.27 | 30.03 | -61.96 | 69.97 | 234.36 | 0.00 | 0 | 17.71 | 27.23 |
| 2015 (5) | 28.66 | 41.11 | 9.56 | 248.91 | 4.63 | 8.89 | 12.10 | 0 | 7.69 | 0 | 10.34 | 0 | 6.42 | 0 | 0.82 | -9.89 | 16.89 | 287.39 | 64.87 | 6.31 | 78.93 | 0 | 20.93 | -99.42 | 0.00 | 0 | 13.92 | -14.07 |
| 2014 (4) | 20.31 | 2.94 | 2.74 | -7.74 | 4.25 | -8.72 | -0.08 | 0 | -0.30 | 0 | -0.44 | 0 | -0.16 | 0 | 0.91 | 5.81 | 4.36 | -59.52 | 61.02 | -1.6 | -3520.00 | 0 | 3620.00 | 7017.98 | 0.00 | 0 | 16.20 | -8.53 |
| 2013 (3) | 19.73 | -12.12 | 2.97 | -61.02 | 4.65 | 16.52 | 6.04 | -32.13 | 3.99 | -39.36 | 5.24 | -47.49 | 3.46 | -43.65 | 0.86 | -6.52 | 10.77 | -16.96 | 62.01 | 36.86 | 49.14 | -42.67 | 50.86 | 251.81 | 0.00 | 0 | 17.71 | 21.97 |
| 2012 (2) | 22.45 | 0 | 7.62 | 0 | 3.99 | 0 | 8.90 | 0 | 6.58 | 0 | 9.98 | 0 | 6.14 | 0 | 0.92 | 0 | 12.97 | 0 | 45.31 | 0 | 85.71 | 0 | 14.46 | 0 | 0.00 | 0 | 14.52 | 0 |
