- 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) | 9.47 | 35.67 | 10.76 | -1.94 | 24.81 | 20.16 | -3.10 | 1.9 | 16.22 | -2.97 | 8.9 | 14.16 | -1.56 | 18.32 | 18.32 | -0.54 | 21.74 | 22.86 | 0.22 | -8.33 | -4.35 | -0.61 | 43.52 | 55.47 | 139.69 | -0.31 | -1.35 | 60.00 | -28.0 | -6.67 | 40.00 | 140.0 | 12.0 | 10.19 | 21.17 | -1.26 |
| 23Q3 (19) | 6.98 | -18.46 | -15.7 | -2.58 | -82.98 | -115.0 | -3.16 | -1480.0 | -174.78 | -3.26 | -229.29 | -113.07 | -1.91 | -229.31 | -130.12 | -0.69 | -430.77 | -187.5 | 0.24 | -4.0 | 4.35 | -1.08 | -151.67 | -195.58 | 140.13 | 1.56 | 5.67 | 83.33 | -83.33 | -16.67 | 16.67 | 103.33 | 0 | 8.41 | 0.72 | -13.48 |
| 23Q2 (18) | 8.56 | -12.47 | -10.74 | -1.41 | -316.92 | -8.46 | -0.20 | -160.61 | -130.77 | -0.99 | -90.38 | -130.23 | -0.58 | -87.1 | -176.19 | -0.13 | -550.0 | -750.0 | 0.25 | 0.0 | 25.0 | 2.09 | -8.33 | -39.77 | 137.98 | -0.76 | 1.59 | 500.00 | 66.67 | 350.0 | -500.00 | -400.0 | -266.67 | 8.35 | 4.51 | -23.6 |
| 23Q1 (17) | 9.78 | 14.39 | -12.99 | 0.65 | 126.75 | -78.19 | 0.33 | 108.92 | -91.32 | -0.52 | 84.97 | -125.62 | -0.31 | 83.77 | -125.0 | -0.02 | 97.14 | -103.17 | 0.25 | 8.7 | -3.85 | 2.28 | 266.42 | -61.81 | 139.04 | -1.81 | 1.13 | 300.00 | 366.67 | 300.0 | -100.00 | -380.0 | -633.33 | 7.99 | -22.58 | -5.89 |
| 22Q4 (16) | 8.55 | 3.26 | -21.77 | -2.43 | -102.5 | -263.09 | -3.70 | -221.74 | -226.28 | -3.46 | -126.14 | -362.12 | -1.91 | -130.12 | -358.11 | -0.70 | -191.67 | -266.67 | 0.23 | 0.0 | -4.17 | -1.37 | -221.24 | -126.4 | 141.60 | 6.78 | 1.37 | 64.29 | -35.71 | 17.86 | 35.71 | 0 | -34.52 | 10.32 | 6.17 | 7.84 |
| 22Q3 (15) | 8.28 | -13.66 | -25.27 | -1.20 | 7.69 | -226.32 | -1.15 | -276.92 | -131.68 | -1.53 | -255.81 | -168.0 | -0.83 | -295.24 | -172.81 | -0.24 | -1300.0 | -140.0 | 0.23 | 15.0 | 4.55 | 1.13 | -67.44 | -82.03 | 132.61 | -2.36 | -1.82 | 100.00 | 150.0 | 333.33 | -0.00 | -100.0 | -100.0 | 9.72 | -11.07 | -13.45 |
| 22Q2 (14) | 9.59 | -14.68 | -8.58 | -1.30 | -143.62 | 11.56 | 0.65 | -82.89 | -64.29 | -0.43 | -121.18 | -156.58 | -0.21 | -116.94 | -161.76 | 0.02 | -96.83 | -92.0 | 0.20 | -23.08 | 0.0 | 3.47 | -41.88 | -28.31 | 135.82 | -1.21 | -0.29 | -200.00 | -366.67 | -140.0 | 300.00 | 1500.0 | 80.0 | 10.93 | 28.74 | -13.94 |
| 22Q1 (13) | 11.24 | 2.84 | 4.75 | 2.98 | 100.0 | 551.52 | 3.80 | 29.69 | 675.51 | 2.03 | 53.79 | 541.3 | 1.24 | 67.57 | 690.48 | 0.63 | 50.0 | 6200.0 | 0.26 | 8.33 | 23.81 | 5.97 | 15.03 | 72.05 | 137.49 | -1.57 | 22.67 | 75.00 | 37.5 | 175.0 | 18.75 | -65.62 | -90.62 | 8.49 | -11.29 | -33.41 |
| 21Q4 (12) | 10.93 | -1.35 | 44.58 | 1.49 | 56.84 | 126.05 | 2.93 | -19.28 | 175.32 | 1.32 | -41.33 | 136.57 | 0.74 | -35.09 | 150.0 | 0.42 | -30.0 | 176.36 | 0.24 | 9.09 | 33.33 | 5.19 | -17.49 | 1426.47 | 139.68 | 3.41 | 15.49 | 54.55 | 136.36 | -64.71 | 54.55 | -21.21 | 220.0 | 9.57 | -14.78 | -34.59 |
| 21Q3 (11) | 11.08 | 5.62 | 45.22 | 0.95 | 164.63 | 117.21 | 3.63 | 99.45 | 190.07 | 2.25 | 196.05 | 158.9 | 1.14 | 235.29 | 175.0 | 0.60 | 140.0 | 211.11 | 0.22 | 10.0 | 29.41 | 6.29 | 29.96 | 1697.14 | 135.07 | -0.84 | 7.91 | 23.08 | 127.69 | -82.69 | 69.23 | -58.46 | 307.69 | 11.23 | -11.57 | 0 |
| 21Q2 (10) | 10.49 | -2.24 | -0.57 | -1.47 | -122.73 | -33.64 | 1.82 | 271.43 | 1170.59 | 0.76 | 265.22 | 186.36 | 0.34 | 261.9 | 179.07 | 0.25 | 2400.0 | 457.14 | 0.20 | -4.76 | 0.0 | 4.84 | 39.48 | 43.62 | 136.21 | 21.53 | -2.19 | -83.33 | 16.67 | -120.83 | 166.67 | -16.67 | 155.56 | 12.70 | -0.39 | 0 |
| 21Q1 (9) | 10.73 | 41.93 | 1.51 | -0.66 | 88.46 | -148.89 | 0.49 | 112.6 | -38.75 | -0.46 | 87.26 | -31.43 | -0.21 | 85.81 | 0.0 | 0.01 | 101.82 | -66.67 | 0.21 | 16.67 | -12.5 | 3.47 | 920.59 | -7.71 | 112.08 | -7.33 | -24.44 | -100.00 | -164.71 | -166.67 | 200.00 | 540.0 | 366.67 | 12.75 | -12.85 | 33.23 |
| 20Q4 (8) | 7.56 | -0.92 | -20.34 | -5.72 | -3.62 | -1488.89 | -3.89 | 3.47 | 18.11 | -3.61 | 5.5 | 26.48 | -1.48 | 2.63 | 54.32 | -0.55 | -1.85 | 52.99 | 0.18 | 5.88 | -30.77 | 0.34 | -2.86 | 114.66 | 120.95 | -3.37 | -21.14 | 154.55 | 15.91 | 1831.82 | -45.45 | -36.36 | -149.41 | 14.63 | 0 | 55.97 |
| 20Q3 (7) | 7.63 | -27.68 | -28.29 | -5.52 | -401.82 | -511.94 | -4.03 | -2270.59 | -547.78 | -3.82 | -334.09 | -1628.0 | -1.52 | -253.49 | -994.12 | -0.54 | -671.43 | -437.5 | 0.17 | -15.0 | -32.0 | 0.35 | -89.61 | -88.99 | 125.17 | -10.12 | -17.72 | 133.33 | -66.67 | -4.76 | -33.33 | 88.89 | 16.67 | 0.00 | 0 | -100.0 |
| 20Q2 (6) | 10.55 | -0.19 | -9.91 | -1.10 | -181.48 | -120.56 | -0.17 | -121.25 | -103.26 | -0.88 | -151.43 | -126.99 | -0.43 | -104.76 | -113.11 | -0.07 | -333.33 | -105.69 | 0.20 | -16.67 | -42.86 | 3.37 | -10.37 | -49.63 | 139.26 | -6.11 | -26.75 | 400.00 | 166.67 | 290.48 | -300.00 | -300.0 | -12200.0 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 10.57 | 11.38 | -11.1 | 1.35 | 475.0 | -78.81 | 0.80 | 116.84 | -86.78 | -0.35 | 92.87 | -110.23 | -0.21 | 93.52 | -105.57 | 0.03 | 102.56 | -97.87 | 0.24 | -7.69 | -36.84 | 3.76 | 262.07 | -50.26 | 148.33 | -3.29 | -22.29 | 150.00 | 1775.0 | 41.51 | -75.00 | -181.52 | -1150.0 | 9.57 | 2.03 | 69.08 |
| 19Q4 (4) | 9.49 | -10.81 | 0.0 | -0.36 | -126.87 | 0.0 | -4.75 | -627.78 | 0.0 | -4.91 | -2064.0 | 0.0 | -3.24 | -2005.88 | 0.0 | -1.17 | -831.25 | 0.0 | 0.26 | 4.0 | 0.0 | -2.32 | -172.96 | 0.0 | 153.37 | 0.82 | 0.0 | 8.00 | -94.29 | 0.0 | 92.00 | 330.0 | 0.0 | 9.38 | -6.2 | 0.0 |
| 19Q3 (3) | 10.64 | -9.14 | 0.0 | 1.34 | -74.95 | 0.0 | 0.90 | -82.73 | 0.0 | 0.25 | -92.33 | 0.0 | 0.17 | -94.82 | 0.0 | 0.16 | -86.99 | 0.0 | 0.25 | -28.57 | 0.0 | 3.18 | -52.47 | 0.0 | 152.13 | -19.98 | 0.0 | 140.00 | 36.67 | 0.0 | -40.00 | -1540.0 | 0.0 | 10.00 | 56.74 | 0.0 |
| 19Q2 (2) | 11.71 | -1.51 | 0.0 | 5.35 | -16.01 | 0.0 | 5.21 | -13.88 | 0.0 | 3.26 | -4.68 | 0.0 | 3.28 | -13.0 | 0.0 | 1.23 | -12.77 | 0.0 | 0.35 | -7.89 | 0.0 | 6.69 | -11.51 | 0.0 | 190.11 | -0.4 | 0.0 | 102.44 | -3.36 | 0.0 | -2.44 | 59.35 | 0.0 | 6.38 | 12.72 | 0.0 |
| 19Q1 (1) | 11.89 | 0.0 | 0.0 | 6.37 | 0.0 | 0.0 | 6.05 | 0.0 | 0.0 | 3.42 | 0.0 | 0.0 | 3.77 | 0.0 | 0.0 | 1.41 | 0.0 | 0.0 | 0.38 | 0.0 | 0.0 | 7.56 | 0.0 | 0.0 | 190.87 | 0.0 | 0.0 | 106.00 | 0.0 | 0.0 | -6.00 | 0.0 | 0.0 | 5.66 | 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) | 8.69 | -8.33 | -1.27 | 0 | 1.63 | -5.24 | -1.44 | 0 | -1.87 | 0 | -4.29 | 0 | -1.35 | 0 | 0.95 | 6.74 | 0.82 | -64.96 | 139.69 | -1.35 | 90.48 | 0 | 14.29 | 0 | 0.00 | 0 | 8.68 | -11.25 |
| 2022 (9) | 9.48 | -12.38 | -0.33 | 0 | 1.72 | -19.13 | 0.03 | -98.69 | -0.75 | 0 | -1.62 | 0 | -0.26 | 0 | 0.89 | 4.71 | 2.34 | -53.75 | 141.60 | 1.37 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 9.78 | -14.59 |
| 2021 (8) | 10.82 | 16.09 | 0.18 | 0 | 2.13 | -24.11 | 2.29 | 0 | 1.02 | 0 | 1.98 | 0 | 1.29 | 0 | 0.85 | 7.59 | 5.06 | 134.26 | 139.68 | 15.49 | 6.45 | -95.84 | 93.55 | 0 | 0.00 | 0 | 11.45 | -8.11 |
| 2020 (7) | 9.32 | -16.19 | -2.20 | 0 | 2.80 | 108.49 | -1.45 | 0 | -1.90 | 0 | -3.57 | 0 | -1.06 | 0 | 0.79 | -39.69 | 2.16 | -52.21 | 120.95 | -21.14 | 155.00 | 10.5 | -55.00 | 0 | 0.00 | 0 | 12.46 | 67.02 |
| 2019 (6) | 11.12 | 15.95 | 3.76 | 150.67 | 1.34 | -32.24 | 2.68 | 8.94 | 1.13 | -4.24 | 4.02 | -22.84 | 1.93 | -16.81 | 1.31 | -16.56 | 4.52 | -6.8 | 153.37 | -18.26 | 140.28 | 130.2 | -40.28 | 0 | 0.05 | -63.33 | 7.46 | -11.3 |
| 2018 (5) | 9.59 | -26.68 | 1.50 | -66.29 | 1.98 | 537.89 | 2.46 | -42.66 | 1.18 | -58.45 | 5.21 | -51.31 | 2.32 | -45.41 | 1.57 | 12.95 | 4.85 | -1.42 | 187.64 | 12.15 | 60.94 | -41.6 | 39.06 | 0 | 0.14 | 0 | 8.41 | 15.21 |
| 2017 (4) | 13.08 | 5.83 | 4.45 | -3.47 | 0.31 | 2.05 | 4.29 | 0.0 | 2.84 | 13.6 | 10.70 | -20.97 | 4.25 | -15.84 | 1.39 | -25.27 | 4.92 | -0.2 | 167.31 | -4.38 | 104.35 | -3.68 | -4.35 | 0 | 0.00 | 0 | 7.30 | 8.63 |
| 2016 (3) | 12.36 | 6.92 | 4.61 | 33.24 | 0.30 | 2.56 | 4.29 | 34.91 | 2.50 | 38.89 | 13.54 | 36.49 | 5.05 | 36.49 | 1.86 | 4.49 | 4.93 | 27.72 | 174.97 | -17.84 | 108.33 | 0.86 | -7.14 | 0 | 0.00 | 0 | 6.72 | 0.15 |
| 2015 (2) | 11.56 | -5.25 | 3.46 | 41.22 | 0.30 | -27.76 | 3.18 | 9.66 | 1.80 | -30.23 | 9.92 | -37.18 | 3.70 | -18.5 | 1.78 | 16.34 | 3.86 | 0.52 | 212.95 | 3.27 | 107.41 | 25.31 | -9.26 | 0 | 0.00 | 0 | 6.71 | -18.17 |
| 2014 (1) | 12.20 | 0 | 2.45 | 0 | 0.41 | -14.45 | 2.90 | 0 | 2.58 | 0 | 15.79 | 0 | 4.54 | 0 | 1.53 | 6.25 | 3.84 | 51.78 | 206.20 | -53.77 | 85.71 | -25.35 | 16.67 | 0 | 0.00 | 0 | 8.20 | 5.13 |
