- 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) | 23.35 | 17.69 | 13.74 | -0.12 | 99.02 | 99.03 | 9.66 | 190.03 | 187.5 | 9.59 | 200.95 | 182.74 | 2.17 | 215.43 | 199.09 | 1.55 | 234.78 | 208.39 | 0.15 | 15.38 | 15.38 | 12.90 | 272.0 | 286.42 | 48.18 | -8.77 | 8.29 | 0.00 | -100.0 | -100.0 | 100.00 | 950.0 | 1000.0 | 14.13 | 3.29 | -5.61 |
| 23Q3 (19) | 19.84 | -1.15 | 1.22 | -12.25 | -140.2 | 26.34 | -10.73 | -60.87 | 15.97 | -9.50 | -61.29 | 6.22 | -1.88 | -37.23 | -1.08 | -1.15 | -32.18 | 2.54 | 0.13 | -18.75 | 8.33 | -7.50 | -101.61 | 1.83 | 52.81 | 4.74 | 4.59 | 117.65 | 52.94 | -9.5 | -11.76 | -150.98 | 60.78 | 13.68 | 19.48 | -5.98 |
| 23Q2 (18) | 20.07 | 8.08 | 4.59 | -5.10 | 63.04 | 63.65 | -6.67 | 61.58 | 44.28 | -5.89 | 58.43 | 35.2 | -1.37 | 47.91 | 29.38 | -0.87 | 50.57 | 29.84 | 0.16 | 23.08 | 14.29 | -3.72 | 72.91 | 53.85 | 50.42 | 15.17 | -1.64 | 76.92 | -1.1 | -34.91 | 23.08 | 24.62 | 226.92 | 11.45 | -29.32 | -16.24 |
| 23Q1 (17) | 18.57 | -9.55 | 6.54 | -13.80 | -11.56 | -7.73 | -17.36 | -57.25 | -23.38 | -14.17 | -22.26 | -15.39 | -2.63 | -20.09 | 2.95 | -1.76 | -23.08 | 1.12 | 0.13 | 0.0 | -13.33 | -13.73 | -98.41 | -33.82 | 43.78 | -1.6 | -14.43 | 77.78 | -30.0 | -16.0 | 18.52 | 266.67 | 150.0 | 16.20 | 8.22 | 23.01 |
| 22Q4 (16) | 20.53 | 4.74 | 28.63 | -12.37 | 25.62 | -2.06 | -11.04 | 13.55 | -6.46 | -11.59 | -14.41 | -20.48 | -2.19 | -17.74 | 10.98 | -1.43 | -21.19 | 11.73 | 0.13 | 8.33 | -23.53 | -6.92 | 9.42 | 1.42 | 44.49 | -11.88 | -6.1 | 111.11 | -14.53 | -4.76 | -11.11 | 62.96 | 33.33 | 14.97 | 2.89 | 42.57 |
| 22Q3 (15) | 19.60 | 2.14 | 4.37 | -16.63 | -18.53 | -31.98 | -12.77 | -6.68 | 31.23 | -10.13 | -11.44 | 48.68 | -1.86 | 4.12 | 52.67 | -1.18 | 4.84 | 54.62 | 0.12 | -14.29 | -7.69 | -7.64 | 5.21 | 48.2 | 50.49 | -1.5 | 6.12 | 130.00 | 10.0 | 92.17 | -30.00 | -65.0 | -192.73 | 14.55 | 6.44 | 14.21 |
| 22Q2 (14) | 19.19 | 10.1 | 3.01 | -14.03 | -9.52 | -127.76 | -11.97 | 14.93 | -128.87 | -9.09 | 25.98 | -76.85 | -1.94 | 28.41 | -67.24 | -1.24 | 30.34 | -69.86 | 0.14 | -6.67 | -6.67 | -8.06 | 21.44 | -484.06 | 51.26 | 0.2 | 2.09 | 118.18 | 27.64 | 0.0 | -18.18 | -345.45 | 0.0 | 13.67 | 3.8 | 15.36 |
| 22Q1 (13) | 17.43 | 9.21 | 2.05 | -12.81 | -5.69 | -275.66 | -14.07 | -35.68 | -479.01 | -12.28 | -27.65 | -507.92 | -2.71 | -10.16 | -431.37 | -1.78 | -9.88 | -474.19 | 0.15 | -11.76 | -11.76 | -10.26 | -46.15 | -955.0 | 51.16 | 7.98 | -6.39 | 92.59 | -20.63 | -38.27 | 7.41 | 144.44 | 122.22 | 13.17 | 25.43 | 31.57 |
| 21Q4 (12) | 15.96 | -15.02 | -31.18 | -12.12 | 3.81 | -1054.33 | -10.37 | 44.16 | -250.73 | -9.62 | 51.27 | -248.69 | -2.46 | 37.4 | -233.7 | -1.62 | 37.69 | -227.56 | 0.17 | 30.77 | -10.53 | -7.02 | 52.41 | -167.56 | 47.38 | -0.42 | -4.46 | 116.67 | 72.46 | 454.17 | -16.67 | -151.52 | -119.79 | 10.50 | -17.58 | 81.35 |
| 21Q3 (11) | 18.78 | 0.81 | 4.97 | -12.60 | -104.55 | -418.52 | -18.57 | -255.07 | -3936.96 | -19.74 | -284.05 | -1190.2 | -3.93 | -238.79 | -813.95 | -2.60 | -256.16 | -983.33 | 0.13 | -13.33 | -27.78 | -14.75 | -968.84 | -596.63 | 47.58 | -5.24 | -5.63 | 67.65 | -42.76 | -90.34 | 32.35 | 277.94 | 106.47 | 12.74 | 7.51 | 2.66 |
| 21Q2 (10) | 18.63 | 9.07 | -33.11 | -6.16 | -80.65 | -148.47 | -5.23 | -115.23 | -133.61 | -5.14 | -154.46 | -147.42 | -1.16 | -127.45 | -125.05 | -0.73 | -135.48 | -124.91 | 0.15 | -11.76 | -44.44 | -1.38 | -215.0 | -107.77 | 50.21 | -8.12 | -18.33 | 118.18 | -21.21 | 43.67 | -18.18 | 45.45 | -202.48 | 11.85 | 18.38 | 0 |
| 21Q1 (9) | 17.08 | -26.35 | -37.8 | -3.41 | -368.5 | 32.74 | -2.43 | -135.32 | 82.89 | -2.02 | -131.22 | 88.59 | -0.51 | -127.72 | 87.15 | -0.31 | -124.41 | 88.03 | 0.17 | -10.53 | 13.33 | 1.20 | -88.45 | 112.28 | 54.65 | 10.2 | -4.37 | 150.00 | 612.5 | 309.09 | -33.33 | -139.58 | -150.0 | 10.01 | 72.88 | -8.08 |
| 20Q4 (8) | 23.19 | 29.63 | 17.6 | 1.27 | 152.26 | 149.61 | 6.88 | 1595.65 | 761.54 | 6.47 | 522.88 | 442.33 | 1.84 | 527.91 | 406.67 | 1.27 | 629.17 | 425.64 | 0.19 | 5.56 | -13.64 | 10.39 | 249.83 | 458.6 | 49.59 | -1.65 | 7.38 | 21.05 | -96.99 | -92.11 | 84.21 | 116.84 | 150.53 | 5.79 | -53.34 | -28.69 |
| 20Q3 (7) | 17.89 | -35.76 | 11.39 | -2.43 | -119.12 | -167.03 | -0.46 | -102.96 | -122.89 | -1.53 | -114.11 | -406.0 | -0.43 | -109.29 | -352.94 | -0.24 | -108.19 | -260.0 | 0.18 | -33.33 | -21.74 | 2.97 | -83.27 | -36.54 | 50.42 | -17.99 | 22.05 | 700.00 | 750.98 | 1733.33 | -500.00 | -2918.18 | -450.0 | 12.41 | 0 | 73.81 |
| 20Q2 (6) | 27.85 | 1.42 | 84.93 | 12.71 | 350.69 | 1159.17 | 15.56 | 209.58 | 594.64 | 10.84 | 161.21 | 932.38 | 4.63 | 216.62 | 1261.76 | 2.93 | 213.13 | 1072.0 | 0.27 | 80.0 | 17.39 | 17.75 | 281.68 | 255.71 | 61.48 | 7.58 | 33.48 | 82.26 | 124.34 | 264.52 | 17.74 | -73.39 | -88.17 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 27.46 | 39.25 | 85.42 | -5.07 | -98.05 | -337.07 | -14.20 | -1265.38 | -546.54 | -17.71 | -837.04 | -822.86 | -3.97 | -561.67 | -572.62 | -2.59 | -564.1 | -511.11 | 0.15 | -31.82 | -40.0 | -9.77 | -625.27 | -273.84 | 57.15 | 23.75 | 53.59 | 36.67 | -86.25 | 200.83 | 66.67 | 140.0 | -51.11 | 10.89 | 34.11 | 47.36 |
| 19Q4 (4) | 19.72 | 22.79 | 0.0 | -2.56 | -181.32 | 0.0 | -1.04 | -151.74 | 0.0 | -1.89 | -478.0 | 0.0 | -0.60 | -452.94 | 0.0 | -0.39 | -360.0 | 0.0 | 0.22 | -4.35 | 0.0 | 1.86 | -60.26 | 0.0 | 46.18 | 11.79 | 0.0 | 266.67 | 722.22 | 0.0 | -166.67 | -216.67 | 0.0 | 8.12 | 13.73 | 0.0 |
| 19Q3 (3) | 16.06 | 6.64 | 0.0 | -0.91 | 24.17 | 0.0 | 2.01 | -10.27 | 0.0 | 0.50 | -52.38 | 0.0 | 0.17 | -50.0 | 0.0 | 0.15 | -40.0 | 0.0 | 0.23 | 0.0 | 0.0 | 4.68 | -6.21 | 0.0 | 41.31 | -10.31 | 0.0 | -42.86 | 14.29 | 0.0 | 142.86 | -4.76 | 0.0 | 7.14 | -0.14 | 0.0 |
| 19Q2 (2) | 15.06 | 1.69 | 0.0 | -1.20 | -3.45 | 0.0 | 2.24 | -29.56 | 0.0 | 1.05 | -57.14 | 0.0 | 0.34 | -59.52 | 0.0 | 0.25 | -60.32 | 0.0 | 0.23 | -8.0 | 0.0 | 4.99 | -11.21 | 0.0 | 46.06 | 23.78 | 0.0 | -50.00 | -37.5 | 0.0 | 150.00 | 10.0 | 0.0 | 7.15 | -3.25 | 0.0 |
| 19Q1 (1) | 14.81 | 0.0 | 0.0 | -1.16 | 0.0 | 0.0 | 3.18 | 0.0 | 0.0 | 2.45 | 0.0 | 0.0 | 0.84 | 0.0 | 0.0 | 0.63 | 0.0 | 0.0 | 0.25 | 0.0 | 0.0 | 5.62 | 0.0 | 0.0 | 37.21 | 0.0 | 0.0 | -36.36 | 0.0 | 0.0 | 136.36 | 0.0 | 0.0 | 7.39 | 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) | 20.57 | 7.7 | -7.36 | 0 | 2.18 | -36.59 | -5.58 | 0 | -4.39 | 0 | -3.64 | 0 | -2.17 | 0 | 0.57 | 1.79 | -2.47 | 0 | 48.18 | 8.29 | 134.21 | 20.37 | -31.58 | 0 | 0.65 | -21.11 | 13.75 | -1.93 |
| 2022 (9) | 19.10 | 8.96 | -13.90 | 0 | 3.44 | 12.1 | -12.52 | 0 | -10.79 | 0 | -8.76 | 0 | -5.81 | 0 | 0.56 | -11.11 | -8.46 | 0 | 44.49 | -6.1 | 111.49 | 14.55 | -11.49 | 0 | 0.83 | -9.89 | 14.02 | 25.63 |
| 2021 (8) | 17.53 | -28.04 | -8.27 | 0 | 3.07 | 11.64 | -8.55 | 0 | -8.46 | 0 | -7.89 | 0 | -5.16 | 0 | 0.63 | -20.25 | -4.89 | 0 | 47.38 | -4.46 | 97.33 | 31.53 | 2.67 | -89.74 | 0.92 | -1.59 | 11.16 | 32.54 |
| 2020 (7) | 24.36 | 48.99 | 3.18 | 0 | 2.75 | 17.11 | 4.28 | 159.39 | 1.66 | 186.21 | 1.93 | 147.44 | 1.44 | 125.0 | 0.79 | -17.71 | 7.48 | 72.75 | 49.59 | 7.38 | 74.00 | 0 | 26.00 | -86.38 | 0.94 | -19.46 | 8.42 | 13.17 |
| 2019 (6) | 16.35 | -14.4 | -1.44 | 0 | 2.35 | 53.99 | 1.65 | -65.91 | 0.58 | -73.39 | 0.78 | -76.44 | 0.64 | -73.22 | 0.96 | -11.11 | 4.33 | -33.89 | 46.18 | 31.57 | -90.91 | 0 | 190.91 | 3527.27 | 1.16 | -19.76 | 7.44 | 12.39 |
| 2018 (5) | 19.10 | -10.08 | 4.57 | -49.17 | 1.53 | 14.58 | 4.84 | -61.34 | 2.18 | -71.91 | 3.31 | -72.44 | 2.39 | -71.48 | 1.08 | 0.0 | 6.55 | -53.05 | 35.10 | -23.18 | 94.74 | 31.43 | 5.26 | -81.48 | 1.45 | 0 | 6.62 | 6.77 |
| 2017 (4) | 21.24 | -2.34 | 8.99 | 28.43 | 1.33 | -31.64 | 12.52 | -12.08 | 7.76 | -29.71 | 12.01 | -16.83 | 8.38 | -17.68 | 1.08 | 18.68 | 13.95 | -14.94 | 45.69 | 10.84 | 72.08 | 46.68 | 28.43 | -44.11 | 0.00 | 0 | 6.20 | -19.06 |
| 2016 (3) | 21.75 | 8.7 | 7.00 | 44.03 | 1.95 | 9.17 | 14.24 | 146.79 | 11.04 | 212.75 | 14.44 | 175.05 | 10.18 | 174.39 | 0.91 | -10.78 | 16.40 | 112.16 | 41.22 | -10.51 | 49.14 | -41.03 | 50.86 | 230.57 | 0.00 | 0 | 7.66 | 5.66 |
| 2015 (2) | 20.01 | 6.61 | 4.86 | 9.71 | 1.78 | -8.92 | 5.77 | -1.2 | 3.53 | -6.12 | 5.25 | -8.7 | 3.71 | -7.25 | 1.02 | -0.97 | 7.73 | -4.21 | 46.06 | 1.23 | 83.33 | 9.65 | 15.38 | -35.9 | 0.00 | 0 | 7.25 | -9.94 |
| 2014 (1) | 18.77 | 0 | 4.43 | 0 | 1.96 | -10.35 | 5.84 | 0 | 3.76 | 0 | 5.75 | 0 | 4.00 | 0 | 1.03 | -13.45 | 8.07 | -27.62 | 45.50 | -11.65 | 76.00 | -13.47 | 24.00 | 97.14 | 0.00 | 0 | 8.05 | 6.48 |
