- 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) | 13.70 | -27.82 | -3.25 | -15.48 | -114.7 | -93.98 | -14.70 | -31.48 | -93.93 | -14.59 | -30.5 | -91.72 | -18.97 | -53.11 | -65.24 | -8.86 | -37.15 | -56.81 | 0.61 | 5.17 | -18.67 | -13.29 | -30.81 | -92.33 | 126.17 | 22.95 | 13.4 | 104.08 | 60.85 | -1.26 | -6.12 | -117.35 | -13.27 | 17.98 | 48.23 | 168.76 |
| 23Q3 (19) | 18.98 | 9.84 | 32.54 | -7.21 | 2.17 | -32.54 | -11.18 | -73.33 | -121.83 | -11.18 | -82.08 | -120.95 | -12.39 | -84.93 | -65.2 | -6.46 | -73.66 | -72.27 | 0.58 | -4.92 | -22.67 | -10.16 | -84.06 | -135.19 | 102.62 | 28.48 | 9.84 | 64.71 | -43.73 | -39.76 | 35.29 | 335.29 | 576.47 | 12.13 | 10.68 | 63.26 |
| 23Q2 (18) | 17.28 | 11.92 | 5.88 | -7.37 | -56.48 | -45.65 | -6.45 | -51.41 | -39.31 | -6.14 | -44.13 | -38.29 | -6.70 | -28.11 | 9.09 | -3.72 | -39.85 | 2.87 | 0.61 | -3.17 | -29.89 | -5.52 | -69.33 | -35.96 | 79.87 | 1.0 | -22.09 | 115.00 | 8.24 | 7.81 | -15.00 | -20.0 | -50.0 | 10.96 | 20.97 | 49.32 |
| 23Q1 (17) | 15.44 | 9.04 | 15.74 | -4.71 | 40.98 | -14.6 | -4.26 | 43.8 | -4.16 | -4.26 | 44.02 | -13.0 | -5.23 | 54.44 | 16.45 | -2.66 | 52.92 | 15.56 | 0.63 | -16.0 | -25.0 | -3.26 | 52.82 | 10.19 | 79.08 | -28.92 | -1.78 | 106.25 | 0.8 | 6.25 | -12.50 | -131.25 | 0 | 9.06 | 35.43 | 17.05 |
| 22Q4 (16) | 14.16 | -1.12 | -2.81 | -7.98 | -46.69 | -46.69 | -7.58 | -50.4 | -47.47 | -7.61 | -50.4 | -84.71 | -11.48 | -53.07 | -63.77 | -5.65 | -50.67 | -61.89 | 0.75 | 0.0 | -11.76 | -6.91 | -59.95 | -48.6 | 111.26 | 19.08 | -3.17 | 105.41 | -1.86 | 0.26 | -5.41 | 27.03 | -5.41 | 6.69 | -9.96 | -0.3 |
| 22Q3 (15) | 14.32 | -12.25 | -18.54 | -5.44 | -7.51 | -280.42 | -5.04 | -8.86 | -1427.27 | -5.06 | -13.96 | -1276.74 | -7.50 | -1.76 | -1003.61 | -3.75 | 2.09 | -1014.63 | 0.75 | -13.79 | -16.67 | -4.32 | -6.4 | 0 | 93.43 | -8.86 | 8.85 | 107.41 | 0.69 | -73.15 | -7.41 | 25.93 | 97.78 | 7.43 | 1.23 | 23.42 |
| 22Q2 (14) | 16.32 | 22.34 | -13.19 | -5.06 | -23.11 | -451.39 | -4.63 | -13.2 | -382.32 | -4.44 | -17.77 | -463.93 | -7.37 | -17.73 | -355.02 | -3.83 | -21.59 | -373.57 | 0.87 | 3.57 | -23.68 | -4.06 | -11.85 | -308.21 | 102.51 | 27.33 | -26.84 | 106.67 | 6.67 | 26.67 | -10.00 | 0 | -195.0 | 7.34 | -5.17 | 64.21 |
| 22Q1 (13) | 13.34 | -8.44 | -26.94 | -4.11 | 24.45 | -63.1 | -4.09 | 20.43 | -87.61 | -3.77 | 8.5 | -115.43 | -6.26 | 10.7 | -97.48 | -3.15 | 9.74 | -89.76 | 0.84 | -1.18 | -12.5 | -3.63 | 21.94 | -108.62 | 80.51 | -29.93 | 2.95 | 100.00 | -4.88 | -13.04 | -0.00 | 100.0 | 100.0 | 7.74 | 15.35 | 29.0 |
| 21Q4 (12) | 14.57 | -17.12 | -15.24 | -5.44 | -280.42 | -136.52 | -5.14 | -1457.58 | -163.59 | -4.12 | -1058.14 | -160.76 | -7.01 | -944.58 | -122.54 | -3.49 | -951.22 | -119.5 | 0.85 | -5.56 | -15.84 | -4.65 | 0 | -185.28 | 114.90 | 33.87 | 15.06 | 105.13 | -73.72 | -12.39 | -5.13 | 98.46 | 74.36 | 6.71 | 11.46 | 43.99 |
| 21Q3 (11) | 17.58 | -6.49 | -7.52 | -1.43 | -199.31 | -28.83 | -0.33 | -120.12 | 57.14 | 0.43 | -64.75 | 158.11 | 0.83 | -71.28 | 153.9 | 0.41 | -70.71 | 153.25 | 0.90 | -21.05 | -14.29 | 0.00 | -100.0 | 100.0 | 85.83 | -38.75 | -8.93 | 400.00 | 375.0 | 200.0 | -333.33 | -3266.67 | -650.0 | 6.02 | 34.68 | 16.22 |
| 21Q2 (10) | 18.80 | 2.96 | -11.4 | 1.44 | 157.14 | 188.0 | 1.64 | 175.23 | 67.35 | 1.22 | 169.71 | 56.41 | 2.89 | 191.17 | 84.08 | 1.40 | 184.34 | 89.19 | 1.14 | 18.75 | 22.58 | 1.95 | 212.07 | 56.0 | 140.12 | 79.18 | 40.09 | 84.21 | -26.77 | 54.39 | 10.53 | 170.18 | -76.84 | 4.47 | -25.5 | 0 |
| 21Q1 (9) | 18.26 | 6.22 | -13.25 | -2.52 | -9.57 | -178.26 | -2.18 | -11.79 | -160.56 | -1.75 | -10.76 | -162.5 | -3.17 | -0.63 | -148.92 | -1.66 | -4.4 | -156.85 | 0.96 | -4.95 | -7.69 | -1.74 | -6.75 | -144.62 | 78.20 | -21.69 | -41.11 | 115.00 | -4.17 | 29.02 | -15.00 | 25.0 | -238.0 | 6.00 | 28.76 | 23.46 |
| 20Q4 (8) | 17.19 | -9.57 | -1.77 | -2.30 | -107.21 | -1377.78 | -1.95 | -153.25 | -448.21 | -1.58 | -113.51 | -527.03 | -3.15 | -104.55 | -421.43 | -1.59 | -106.49 | -445.65 | 1.01 | -3.81 | -17.89 | -1.63 | -201.85 | -291.76 | 99.86 | 5.95 | -10.09 | 120.00 | -10.0 | 220.0 | -20.00 | 55.0 | -132.0 | 4.66 | -10.04 | 24.6 |
| 20Q3 (7) | 19.01 | -10.41 | 2.7 | -1.11 | -322.0 | -582.61 | -0.77 | -178.57 | -237.5 | -0.74 | -194.87 | -289.74 | -1.54 | -198.09 | -258.76 | -0.77 | -204.05 | -275.0 | 1.05 | 12.9 | -5.41 | -0.54 | -143.2 | -158.7 | 94.25 | -5.77 | -19.44 | 133.33 | 144.44 | 211.11 | -44.44 | -197.78 | -177.78 | 5.18 | 0 | 22.17 |
| 20Q2 (6) | 21.22 | 0.81 | 18.42 | 0.50 | -84.47 | -48.98 | 0.98 | -72.78 | -23.44 | 0.78 | -72.14 | -26.42 | 1.57 | -75.77 | -35.12 | 0.74 | -74.66 | -35.09 | 0.93 | -10.58 | -13.08 | 1.25 | -67.95 | -22.84 | 100.02 | -24.68 | -21.86 | 54.55 | -38.8 | -27.27 | 45.45 | 318.18 | 81.82 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 21.05 | 20.29 | 9.41 | 3.22 | 1688.89 | 75.0 | 3.60 | 542.86 | 69.01 | 2.80 | 656.76 | 66.67 | 6.48 | 561.22 | 66.58 | 2.92 | 534.78 | 61.33 | 1.04 | -15.45 | -3.7 | 3.90 | 358.82 | 59.18 | 132.79 | 19.56 | 35.39 | 89.13 | 137.68 | 1.86 | 10.87 | -82.61 | -13.04 | 4.86 | 29.95 | 4.52 |
| 19Q4 (4) | 17.50 | -5.46 | 0.0 | 0.18 | -21.74 | 0.0 | 0.56 | 0.0 | 0.0 | 0.37 | -5.13 | 0.0 | 0.98 | 1.03 | 0.0 | 0.46 | 4.55 | 0.0 | 1.23 | 10.81 | 0.0 | 0.85 | -7.61 | 0.0 | 111.07 | -5.07 | 0.0 | 37.50 | -12.5 | 0.0 | 62.50 | 9.38 | 0.0 | 3.74 | -11.79 | 0.0 |
| 19Q3 (3) | 18.51 | 3.29 | 0.0 | 0.23 | -76.53 | 0.0 | 0.56 | -56.25 | 0.0 | 0.39 | -63.21 | 0.0 | 0.97 | -59.92 | 0.0 | 0.44 | -61.4 | 0.0 | 1.11 | 3.74 | 0.0 | 0.92 | -43.21 | 0.0 | 117.00 | -8.59 | 0.0 | 42.86 | -42.86 | 0.0 | 57.14 | 128.57 | 0.0 | 4.24 | -2.97 | 0.0 |
| 19Q2 (2) | 17.92 | -6.86 | 0.0 | 0.98 | -46.74 | 0.0 | 1.28 | -39.91 | 0.0 | 1.06 | -36.9 | 0.0 | 2.42 | -37.79 | 0.0 | 1.14 | -37.02 | 0.0 | 1.07 | -0.93 | 0.0 | 1.62 | -33.88 | 0.0 | 128.00 | 30.51 | 0.0 | 75.00 | -14.29 | 0.0 | 25.00 | 100.0 | 0.0 | 4.37 | -6.02 | 0.0 |
| 19Q1 (1) | 19.24 | 0.0 | 0.0 | 1.84 | 0.0 | 0.0 | 2.13 | 0.0 | 0.0 | 1.68 | 0.0 | 0.0 | 3.89 | 0.0 | 0.0 | 1.81 | 0.0 | 0.0 | 1.08 | 0.0 | 0.0 | 2.45 | 0.0 | 0.0 | 98.08 | 0.0 | 0.0 | 87.50 | 0.0 | 0.0 | 12.50 | 0.0 | 0.0 | 4.65 | 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) | 16.26 | 11.83 | -8.63 | 0 | 0.91 | 65.55 | -9.02 | 0 | -8.92 | 0 | -43.28 | 0 | -19.82 | 0 | 2.23 | -25.67 | -7.93 | 0 | 126.17 | 13.4 | 95.76 | -9.43 | 4.24 | 0 | 10.25 | 0 | 12.47 | 69.89 |
| 2022 (9) | 14.54 | -16.96 | -5.48 | 0 | 0.55 | 56.06 | -5.18 | 0 | -5.05 | 0 | -32.35 | 0 | -15.06 | 0 | 3.00 | -20.42 | -4.59 | 0 | 111.26 | -3.17 | 105.74 | -24.22 | -5.74 | 0 | 0.00 | 0 | 7.34 | 29.23 |
| 2021 (8) | 17.51 | -11.16 | -1.64 | 0 | 0.35 | 46.83 | -1.17 | 0 | -0.81 | 0 | -6.27 | 0 | -2.97 | 0 | 3.77 | -10.45 | -0.79 | 0 | 114.90 | 15.06 | 139.53 | 290.7 | -39.53 | 0 | 0.00 | 0 | 5.68 | 13.6 |
| 2020 (7) | 19.71 | 8.0 | 0.23 | -69.74 | 0.24 | -23.28 | 0.61 | -44.04 | 0.43 | -48.81 | 3.76 | -57.37 | 1.88 | -52.64 | 4.21 | -10.99 | 0.90 | -36.17 | 99.86 | -10.09 | 35.71 | -49.63 | 64.29 | 107.98 | 0.00 | 0 | 5.00 | 18.2 |
| 2019 (6) | 18.25 | 15.14 | 0.76 | 26.67 | 0.31 | 679.26 | 1.09 | 11.22 | 0.84 | -11.58 | 8.82 | -23.24 | 3.97 | -16.24 | 4.73 | -4.83 | 1.41 | 31.78 | 111.07 | -18.99 | 70.91 | 15.82 | 30.91 | -20.29 | 0.09 | 0 | 4.23 | 9.02 |
| 2018 (5) | 15.85 | -3.35 | 0.60 | 150.0 | 0.04 | -24.46 | 0.98 | 50.77 | 0.95 | 90.0 | 11.49 | 144.47 | 4.74 | 122.54 | 4.97 | 17.77 | 1.07 | 42.67 | 137.11 | -7.26 | 61.22 | 63.27 | 38.78 | -37.96 | 0.00 | 0 | 3.88 | -0.51 |
| 2017 (4) | 16.40 | -0.24 | 0.24 | -85.09 | 0.05 | 67.16 | 0.65 | -67.34 | 0.50 | -69.7 | 4.70 | -70.9 | 2.13 | -73.0 | 4.22 | -11.53 | 0.75 | -63.94 | 147.84 | 55.13 | 37.50 | -53.5 | 62.50 | 222.92 | 0.00 | 0 | 3.90 | 1.56 |
| 2016 (3) | 16.44 | 1.23 | 1.61 | -8.0 | 0.03 | -22.8 | 1.99 | -7.44 | 1.65 | -7.82 | 16.15 | -23.78 | 7.89 | -19.16 | 4.77 | -12.8 | 2.08 | -5.02 | 95.30 | -21.4 | 80.65 | -0.15 | 19.35 | 0.65 | 0.00 | 0 | 3.84 | 2.13 |
| 2015 (2) | 16.24 | -17.77 | 1.75 | -3.85 | 0.04 | -39.22 | 2.15 | 3.86 | 1.79 | -19.37 | 21.19 | -28.58 | 9.76 | -24.11 | 5.47 | -5.53 | 2.19 | 3.79 | 121.24 | 8.57 | 80.77 | -10.26 | 19.23 | 44.23 | 0.00 | 0 | 3.76 | -25.1 |
| 2014 (1) | 19.75 | 0 | 1.82 | 0 | 0.07 | 0 | 2.07 | 0 | 2.22 | 0 | 29.67 | 0 | 12.86 | 0 | 5.79 | 65.9 | 2.11 | 0 | 111.67 | -46.13 | 90.00 | -12.9 | 13.33 | 0 | 0.00 | 0 | 5.02 | -33.77 |
