- 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) | 3.26 | 171.33 | -74.57 | -3.63 | 82.44 | -154.26 | -5.86 | 62.98 | -195.6 | -4.58 | 66.79 | -193.85 | -4.30 | 10.04 | -185.49 | -1.26 | 24.55 | -173.26 | 0.31 | 138.46 | -8.82 | -2.67 | 66.75 | -132.48 | 228.57 | 33.23 | 4.81 | 61.82 | -53.02 | -43.06 | 38.18 | 228.02 | 545.45 | 19.73 | -55.81 | 21.19 |
| 23Q3 (19) | -4.57 | -137.09 | -133.31 | -20.67 | -627.82 | -777.7 | -15.83 | -1513.39 | -261.04 | -13.79 | -19800.0 | -274.12 | -4.78 | -16033.33 | -221.94 | -1.67 | -1143.75 | -210.6 | 0.13 | -7.14 | -27.78 | -8.03 | -203.48 | -155.15 | 171.56 | 10.97 | -10.5 | 131.58 | 154.82 | 319.41 | -29.82 | -108.77 | -143.46 | 44.65 | 21.5 | 30.59 |
| 23Q2 (18) | 12.32 | -21.83 | -26.88 | -2.84 | -134.42 | -134.76 | 1.12 | -86.07 | -90.47 | 0.07 | -98.91 | -99.29 | 0.03 | -99.41 | -99.65 | 0.16 | -90.91 | -94.97 | 0.14 | -44.0 | -54.84 | 7.76 | -30.9 | -46.3 | 154.60 | -27.56 | -8.57 | -240.00 | -333.33 | -444.79 | 340.00 | 12000.0 | 1018.71 | 36.75 | 71.33 | 53.64 |
| 23Q1 (17) | 15.76 | 22.93 | -12.83 | 8.25 | 23.32 | -26.14 | 8.04 | 31.16 | -45.6 | 6.44 | 31.97 | -46.24 | 5.05 | 0.4 | -51.72 | 1.76 | 2.33 | -51.52 | 0.25 | -26.47 | -13.79 | 11.23 | 36.62 | -35.76 | 213.42 | -2.13 | 12.03 | 102.86 | -5.26 | 36.07 | -2.86 | 66.67 | -111.71 | 21.45 | 31.76 | -15.88 |
| 22Q4 (16) | 12.82 | -6.56 | -28.3 | 6.69 | 119.34 | -39.4 | 6.13 | -37.64 | -44.42 | 4.88 | -38.38 | -44.36 | 5.03 | 28.32 | -44.36 | 1.72 | 13.91 | -45.05 | 0.34 | 88.89 | -2.86 | 8.22 | -43.54 | -37.77 | 218.07 | 13.76 | 7.88 | 108.57 | 246.07 | 8.57 | -8.57 | -112.49 | 0 | 16.28 | -52.38 | -18.72 |
| 22Q3 (15) | 13.72 | -18.58 | -10.44 | 3.05 | -62.67 | -55.41 | 9.83 | -16.34 | 33.74 | 7.92 | -19.84 | 20.73 | 3.92 | -54.37 | -19.84 | 1.51 | -52.52 | -17.93 | 0.18 | -41.94 | -30.77 | 14.56 | 0.76 | 39.2 | 191.69 | 13.37 | 0.75 | 31.37 | -54.93 | -66.67 | 68.63 | 125.81 | 775.0 | 34.19 | 42.93 | 21.41 |
| 22Q2 (14) | 16.85 | -6.8 | -13.14 | 8.17 | -26.86 | -29.93 | 11.75 | -20.5 | 36.31 | 9.88 | -17.53 | 53.89 | 8.59 | -17.88 | 81.22 | 3.18 | -12.4 | 81.71 | 0.31 | 6.9 | 24.0 | 14.45 | -17.33 | 21.74 | 169.09 | -11.24 | -4.61 | 69.61 | -7.91 | -48.44 | 30.39 | 24.51 | 186.83 | 23.92 | -6.2 | -6.89 |
| 22Q1 (13) | 18.08 | 1.12 | -4.19 | 11.17 | 1.18 | 4.78 | 14.78 | 34.0 | 38.13 | 11.98 | 36.6 | 37.07 | 10.46 | 15.71 | 47.53 | 3.63 | 15.97 | 49.38 | 0.29 | -17.14 | 11.54 | 17.48 | 32.32 | 27.87 | 190.51 | -5.76 | -9.27 | 75.59 | -24.41 | -23.41 | 24.41 | 0 | 0 | 25.50 | 27.31 | 1.11 |
| 21Q4 (12) | 17.88 | 16.71 | 19.92 | 11.04 | 61.4 | 58.85 | 11.03 | 50.07 | 62.92 | 8.77 | 33.69 | 46.9 | 9.04 | 84.87 | 47.95 | 3.13 | 70.11 | 39.11 | 0.35 | 34.62 | -2.78 | 13.21 | 26.29 | 44.85 | 202.15 | 6.25 | -0.2 | 100.00 | 6.25 | -3.39 | 0.00 | -100.0 | 100.0 | 20.03 | -28.87 | -7.44 |
| 21Q3 (11) | 15.32 | -21.03 | -25.3 | 6.84 | -41.34 | -1.16 | 7.35 | -14.73 | 2.65 | 6.56 | 2.18 | 0.92 | 4.89 | 3.16 | 50.93 | 1.84 | 5.14 | 40.46 | 0.26 | 4.0 | 44.44 | 10.46 | -11.88 | -12.98 | 190.26 | 7.33 | 11.97 | 94.12 | -30.28 | -2.4 | 7.84 | 122.41 | 119.61 | 28.16 | 9.61 | -27.48 |
| 21Q2 (10) | 19.40 | 2.81 | 22.71 | 11.66 | 9.38 | 157.96 | 8.62 | -19.44 | 93.71 | 6.42 | -26.54 | 175.54 | 4.74 | -33.15 | 327.03 | 1.75 | -27.98 | 224.07 | 0.25 | -3.85 | 38.89 | 11.87 | -13.17 | 27.91 | 177.27 | -15.57 | 2.46 | 135.00 | 36.78 | 27.5 | -35.00 | 0 | 0 | 25.69 | 1.86 | 0 |
| 21Q1 (9) | 18.87 | 26.56 | 22.06 | 10.66 | 53.38 | 47.03 | 10.70 | 58.05 | 17.58 | 8.74 | 46.4 | 26.12 | 7.09 | 16.04 | 40.95 | 2.43 | 8.0 | 19.7 | 0.26 | -27.78 | -3.7 | 13.67 | 49.89 | 10.06 | 209.97 | 3.66 | 43.55 | 98.70 | -4.64 | 25.62 | 0.00 | 100.0 | -100.0 | 25.22 | 16.54 | -6.32 |
| 20Q4 (8) | 14.91 | -27.3 | 2.54 | 6.95 | 0.43 | -3.34 | 6.77 | -5.45 | -3.7 | 5.97 | -8.15 | 25.42 | 6.11 | 88.58 | 24.69 | 2.25 | 71.76 | 15.38 | 0.36 | 100.0 | -5.26 | 9.12 | -24.13 | -3.18 | 202.56 | 19.21 | 8.09 | 103.51 | 7.34 | 0.06 | -3.51 | -198.25 | -103.51 | 21.64 | -44.27 | 20.16 |
| 20Q3 (7) | 20.51 | 29.73 | 35.74 | 6.92 | 53.1 | 7020.0 | 7.16 | 60.9 | 214.04 | 6.50 | 178.97 | 240.31 | 3.24 | 191.89 | 310.13 | 1.31 | 142.59 | 197.73 | 0.18 | 0.0 | 5.88 | 12.02 | 29.53 | 54.9 | 169.92 | -1.79 | 10.19 | 96.43 | -8.93 | 0 | 3.57 | 0 | -96.87 | 38.83 | 0 | -16.92 |
| 20Q2 (6) | 15.81 | 2.26 | -14.36 | 4.52 | -37.66 | -43.07 | 4.45 | -51.1 | -55.1 | 2.33 | -66.38 | -73.55 | 1.11 | -77.93 | -80.8 | 0.54 | -73.4 | -77.5 | 0.18 | -33.33 | -30.77 | 9.28 | -25.28 | -30.33 | 173.02 | 18.29 | 21.06 | 105.88 | 34.76 | 31.71 | -0.00 | -100.0 | -100.0 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 15.46 | 6.33 | -24.18 | 7.25 | 0.83 | -40.96 | 9.10 | 29.45 | -29.24 | 6.93 | 45.59 | -32.13 | 5.03 | 2.65 | -49.65 | 2.03 | 4.1 | -46.86 | 0.27 | -28.95 | -25.0 | 12.42 | 31.85 | -19.19 | 146.27 | -21.95 | -12.85 | 78.57 | -24.05 | -18.01 | 19.64 | 1239.29 | 371.43 | 26.92 | 49.47 | 15.78 |
| 19Q4 (4) | 14.54 | -3.77 | 0.0 | 7.19 | 7290.0 | 0.0 | 7.03 | 208.33 | 0.0 | 4.76 | 149.21 | 0.0 | 4.90 | 520.25 | 0.0 | 1.95 | 343.18 | 0.0 | 0.38 | 123.53 | 0.0 | 9.42 | 21.39 | 0.0 | 187.40 | 21.53 | 0.0 | 103.45 | 0 | 0.0 | -1.72 | -101.51 | 0.0 | 18.01 | -61.47 | 0.0 |
| 19Q3 (3) | 15.11 | -18.15 | 0.0 | -0.10 | -101.26 | 0.0 | 2.28 | -76.99 | 0.0 | 1.91 | -78.32 | 0.0 | 0.79 | -86.33 | 0.0 | 0.44 | -81.67 | 0.0 | 0.17 | -34.62 | 0.0 | 7.76 | -41.74 | 0.0 | 154.20 | 7.89 | 0.0 | -0.00 | -100.0 | 0.0 | 114.29 | 482.86 | 0.0 | 46.74 | 91.87 | 0.0 |
| 19Q2 (2) | 18.46 | -9.47 | 0.0 | 7.94 | -35.34 | 0.0 | 9.91 | -22.94 | 0.0 | 8.81 | -13.71 | 0.0 | 5.78 | -42.14 | 0.0 | 2.40 | -37.17 | 0.0 | 0.26 | -27.78 | 0.0 | 13.32 | -13.34 | 0.0 | 142.92 | -14.84 | 0.0 | 80.39 | -16.11 | 0.0 | 19.61 | 370.59 | 0.0 | 24.36 | 4.77 | 0.0 |
| 19Q1 (1) | 20.39 | 0.0 | 0.0 | 12.28 | 0.0 | 0.0 | 12.86 | 0.0 | 0.0 | 10.21 | 0.0 | 0.0 | 9.99 | 0.0 | 0.0 | 3.82 | 0.0 | 0.0 | 0.36 | 0.0 | 0.0 | 15.37 | 0.0 | 0.0 | 167.83 | 0.0 | 0.0 | 95.83 | 0.0 | 0.0 | 4.17 | 0.0 | 0.0 | 23.25 | 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) | 7.86 | -48.69 | -1.88 | 0 | 3.35 | 45.81 | -1.43 | 0 | -1.40 | 0 | -3.40 | 0 | -0.49 | 0 | 0.75 | -26.47 | 3.00 | -77.17 | 228.57 | 4.81 | 132.43 | 79.47 | -32.43 | 0 | 0.19 | 69.8 | 26.56 | 13.89 |
| 2022 (9) | 15.32 | -14.27 | 7.64 | -24.65 | 2.30 | 2.85 | 10.33 | 7.83 | 8.43 | 8.91 | 26.68 | 3.09 | 8.94 | -0.67 | 1.02 | -8.11 | 13.14 | 5.97 | 218.07 | 7.88 | 73.79 | -30.22 | 25.93 | 0 | 0.11 | -45.07 | 23.32 | -4.15 |
| 2021 (8) | 17.87 | 10.31 | 10.14 | 53.64 | 2.23 | -18.19 | 9.58 | 35.5 | 7.74 | 36.03 | 25.88 | 70.83 | 9.00 | 61.58 | 1.11 | 23.33 | 12.40 | 17.87 | 202.15 | -0.2 | 105.74 | 12.89 | -5.74 | 0 | 0.20 | -14.45 | 24.33 | -8.43 |
| 2020 (7) | 16.20 | -6.2 | 6.60 | -16.98 | 2.73 | 15.74 | 7.07 | -19.84 | 5.69 | -18.01 | 15.15 | -29.86 | 5.57 | -31.57 | 0.90 | -18.18 | 10.52 | -11.45 | 202.56 | 8.09 | 93.67 | 3.92 | 6.33 | -35.8 | 0.23 | -20.78 | 26.57 | 7.05 |
| 2019 (6) | 17.27 | 10.28 | 7.95 | 46.14 | 2.36 | -15.07 | 8.82 | 29.52 | 6.94 | 59.54 | 21.60 | 90.48 | 8.14 | 71.37 | 1.10 | 12.24 | 11.88 | 15.79 | 187.40 | 3.79 | 90.14 | 12.23 | 9.86 | -51.84 | 0.29 | -0.49 | 24.82 | -10.98 |
| 2018 (5) | 15.66 | -2.25 | 5.44 | -20.12 | 2.78 | 5.88 | 6.81 | 18.02 | 4.35 | -6.65 | 11.34 | -11.61 | 4.75 | -15.78 | 0.98 | -11.71 | 10.26 | 13.37 | 180.55 | 20.66 | 80.31 | -31.85 | 20.47 | 0 | 0.30 | 0 | 27.88 | 3.95 |
| 2017 (4) | 16.02 | 12.9 | 6.81 | 32.23 | 2.62 | 17.76 | 5.77 | 0.87 | 4.66 | 7.62 | 12.83 | 8.91 | 5.64 | 7.63 | 1.11 | -2.63 | 9.05 | 7.61 | 149.63 | 1.55 | 117.86 | 30.57 | -17.86 | 0 | 0.00 | 0 | 26.82 | -1.87 |
| 2016 (3) | 14.19 | -27.97 | 5.15 | -52.45 | 2.23 | 10.31 | 5.72 | -44.79 | 4.33 | -56.87 | 11.78 | -59.45 | 5.24 | -56.51 | 1.14 | -1.72 | 8.41 | -34.6 | 147.34 | 11.84 | 90.27 | -13.84 | 9.73 | 0 | 0.00 | 0 | 27.33 | 9.36 |
| 2015 (2) | 19.70 | -0.15 | 10.83 | 5.56 | 2.02 | -2.7 | 10.36 | -1.05 | 10.04 | 0.7 | 29.05 | -27.23 | 12.05 | -17.58 | 1.16 | -17.73 | 12.86 | -1.83 | 131.74 | -21.98 | 104.76 | 7.12 | -4.29 | 0 | 0.00 | 0 | 24.99 | 11.31 |
| 2014 (1) | 19.73 | 0 | 10.26 | 0 | 2.08 | -4.7 | 10.47 | 0 | 9.97 | 0 | 39.92 | 0 | 14.62 | 0 | 1.41 | -3.42 | 13.10 | 141.7 | 168.85 | -18.36 | 97.80 | 59.27 | 2.20 | -94.29 | 0.00 | 0 | 22.45 | -3.19 |
