- 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) | 45.04 | -3.9 | 582.42 | 22.80 | -6.56 | 178.49 | 22.08 | -11.86 | 153.58 | 9.96 | -7.43 | 128.22 | 2.52 | -13.99 | 148.09 | 1.53 | -6.71 | 166.52 | 0.14 | 0.0 | 100.0 | 28.22 | -19.42 | 224.15 | 73.90 | -19.74 | -29.4 | 103.77 | 5.56 | 45.93 | -3.77 | -211.32 | -113.06 | 25.98 | -2.4 | -59.56 |
| 23Q3 (19) | 46.87 | 17.79 | 269.64 | 24.40 | 24.11 | 292.73 | 25.05 | 22.2 | 446.47 | 10.76 | -32.83 | 253.28 | 2.93 | -39.46 | 289.03 | 1.64 | -35.69 | 434.69 | 0.14 | -6.67 | 40.0 | 35.02 | 29.61 | 846.49 | 92.08 | -5.25 | -12.22 | 98.31 | 2.32 | -43.83 | 3.39 | -13.56 | 104.52 | 26.62 | 13.08 | -23.7 |
| 23Q2 (18) | 39.79 | 83.45 | 106.7 | 19.66 | 512.46 | 3176.67 | 20.50 | 1084.97 | 840.37 | 16.02 | 895.03 | 926.92 | 4.84 | 887.76 | 929.79 | 2.55 | 454.35 | 442.55 | 0.15 | 0.0 | 7.14 | 27.02 | 188.68 | 148.8 | 97.18 | -7.19 | -19.73 | 96.08 | -51.96 | 380.39 | 3.92 | 105.23 | -93.46 | 23.54 | -19.47 | -14.46 |
| 23Q1 (17) | 21.69 | 228.64 | 8.18 | 3.21 | 111.05 | -53.61 | 1.73 | 104.2 | -75.6 | 1.61 | 104.56 | -72.29 | 0.49 | 109.35 | -80.24 | 0.46 | 120.0 | -64.62 | 0.15 | 114.29 | -21.05 | 9.36 | 141.18 | -30.15 | 104.71 | 0.04 | -17.87 | 200.00 | 181.25 | 109.52 | -75.00 | -359.62 | -1750.0 | 29.23 | -54.5 | 23.33 |
| 22Q4 (16) | 6.60 | -47.95 | 204.15 | -29.05 | -129.46 | -73.33 | -41.21 | -469.99 | -118.39 | -35.29 | -402.71 | -87.12 | -5.24 | -238.06 | -1.16 | -2.30 | -369.39 | -9.52 | 0.07 | -30.0 | -41.67 | -22.73 | -714.32 | -105.52 | 104.67 | -0.22 | -16.86 | 71.11 | -59.37 | -20.27 | 28.89 | 138.52 | 167.22 | 64.24 | 84.12 | 108.17 |
| 22Q3 (15) | 12.68 | -34.13 | -14.78 | -12.66 | -2210.0 | -234.92 | -7.23 | -431.65 | -44.6 | -7.02 | -550.0 | -56.35 | -1.55 | -429.79 | -20.16 | -0.49 | -204.26 | -36.11 | 0.10 | -28.57 | -23.08 | 3.70 | -65.93 | -0.54 | 104.90 | -13.35 | -9.79 | 175.00 | 775.0 | 140.62 | -75.00 | -225.0 | -375.0 | 34.89 | 26.78 | 5.92 |
| 22Q2 (14) | 19.25 | -3.99 | 43.76 | 0.60 | -91.33 | 185.71 | 2.18 | -69.25 | 161.76 | 1.56 | -73.15 | 146.29 | 0.47 | -81.05 | 130.13 | 0.47 | -63.85 | 206.82 | 0.14 | -26.32 | -33.33 | 10.86 | -18.96 | 311.36 | 121.06 | -5.04 | -5.24 | 20.00 | -79.05 | 320.0 | 60.00 | 1220.0 | -40.0 | 27.52 | 16.12 | 15.34 |
| 22Q1 (13) | 20.05 | 823.96 | 106.49 | 6.92 | 141.29 | 476.09 | 7.09 | 137.57 | 270.84 | 5.81 | 130.81 | 237.68 | 2.48 | 147.88 | 246.75 | 1.30 | 161.9 | 306.35 | 0.19 | 58.33 | -5.0 | 13.40 | 221.16 | 278.53 | 127.49 | 1.26 | 15.82 | 95.45 | 7.02 | 114.77 | 4.55 | -57.95 | -91.82 | 23.70 | -23.2 | -20.71 |
| 21Q4 (12) | 2.17 | -85.42 | -74.5 | -16.76 | -343.39 | -33.76 | -18.87 | -277.4 | -10.74 | -18.86 | -320.04 | -59.02 | -5.18 | -301.55 | -59.38 | -2.10 | -483.33 | -53.28 | 0.12 | -7.69 | -7.69 | -11.06 | -397.31 | -74.72 | 125.90 | 8.27 | 27.75 | 89.19 | 22.64 | 20.41 | 10.81 | -60.36 | -58.3 | 30.86 | -6.31 | -24.18 |
| 21Q3 (11) | 14.88 | 11.13 | 3.69 | -3.78 | -1900.0 | -555.42 | -5.00 | -41.64 | -534.78 | -4.49 | -33.23 | -515.74 | -1.29 | 17.31 | -400.0 | -0.36 | 18.18 | -200.0 | 0.13 | -38.1 | -31.58 | 3.72 | 40.91 | -54.8 | 116.28 | -8.99 | 5.14 | 72.73 | 900.0 | 9.09 | 27.27 | -72.73 | -18.18 | 32.94 | 38.06 | 64.86 |
| 21Q2 (10) | 13.39 | 37.9 | 26.2 | 0.21 | 111.41 | 110.94 | -3.53 | 14.94 | -11.71 | -3.37 | 20.14 | -16.61 | -1.56 | 7.69 | -35.65 | -0.44 | 30.16 | -33.33 | 0.21 | 5.0 | 10.53 | 2.64 | -25.42 | -39.03 | 127.76 | 16.06 | 9.1 | -9.09 | -120.45 | -115.91 | 100.00 | 80.0 | 133.33 | 23.86 | -20.17 | 0 |
| 21Q1 (9) | 9.71 | 14.1 | 302.9 | -1.84 | 85.32 | 87.23 | -4.15 | 75.65 | 74.6 | -4.22 | 64.42 | 70.45 | -1.69 | 48.0 | 60.79 | -0.63 | 54.01 | 66.84 | 0.20 | 53.85 | 33.33 | 3.54 | 155.92 | 153.39 | 110.08 | 11.7 | -0.52 | 44.44 | -40.0 | -48.72 | 55.56 | 114.29 | 455.56 | 29.89 | -26.56 | -20.08 |
| 20Q4 (8) | 8.51 | -40.7 | 20.54 | -12.53 | -1609.64 | -30.66 | -17.04 | -1581.74 | 2.13 | -11.86 | -1198.15 | 22.58 | -3.25 | -855.81 | 22.99 | -1.37 | -480.56 | 29.02 | 0.13 | -31.58 | -7.14 | -6.33 | -176.91 | 15.71 | 98.55 | -10.9 | -0.53 | 74.07 | 11.11 | 30.72 | 25.93 | -22.22 | -44.44 | 40.70 | 103.7 | 18.31 |
| 20Q3 (7) | 14.35 | 35.25 | 20.28 | 0.83 | 143.23 | 148.54 | 1.15 | 136.39 | 126.81 | 1.08 | 137.37 | 136.49 | 0.43 | 137.39 | 143.43 | 0.36 | 209.09 | 224.14 | 0.19 | 0.0 | 18.75 | 8.23 | 90.07 | 78.52 | 110.60 | -5.55 | 12.49 | 66.67 | 16.67 | 50.0 | 33.33 | -22.22 | -50.0 | 19.98 | 0 | -30.53 |
| 20Q2 (6) | 10.61 | 340.25 | 9.27 | -1.92 | 86.68 | 34.25 | -3.16 | 80.66 | 7.87 | -2.89 | 79.76 | 49.12 | -1.15 | 73.32 | 47.25 | -0.33 | 82.63 | 60.24 | 0.19 | 26.67 | 5.56 | 4.33 | 165.31 | 11.6 | 117.10 | 5.82 | 6.17 | 57.14 | -34.07 | -35.71 | 42.86 | 328.57 | 285.71 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 2.41 | -65.86 | -61.44 | -14.41 | -50.26 | -202.1 | -16.34 | 6.15 | -721.11 | -14.28 | 6.79 | -765.45 | -4.31 | -2.13 | -630.51 | -1.90 | 1.55 | -2614.29 | 0.15 | 7.14 | -16.67 | -6.63 | 11.72 | -209.59 | 110.66 | 11.69 | -3.27 | 86.67 | 52.94 | -63.89 | 10.00 | -78.57 | 107.14 | 37.40 | 8.72 | 43.74 |
| 19Q4 (4) | 7.06 | -40.82 | 0.0 | -9.59 | -460.82 | 0.0 | -17.41 | -305.83 | 0.0 | -15.32 | -417.57 | 0.0 | -4.22 | -326.26 | 0.0 | -1.93 | -565.52 | 0.0 | 0.14 | -12.5 | 0.0 | -7.51 | -262.91 | 0.0 | 99.08 | 0.77 | 0.0 | 56.67 | 27.5 | 0.0 | 46.67 | -30.0 | 0.0 | 34.40 | 19.61 | 0.0 |
| 19Q3 (3) | 11.93 | 22.86 | 0.0 | -1.71 | 41.44 | 0.0 | -4.29 | -25.07 | 0.0 | -2.96 | 47.89 | 0.0 | -0.99 | 54.59 | 0.0 | -0.29 | 65.06 | 0.0 | 0.16 | -11.11 | 0.0 | 4.61 | 18.81 | 0.0 | 98.32 | -10.85 | 0.0 | 44.44 | -50.0 | 0.0 | 66.67 | 500.0 | 0.0 | 28.76 | 27.43 | 0.0 |
| 19Q2 (2) | 9.71 | 55.36 | 0.0 | -2.92 | 38.78 | 0.0 | -3.43 | -72.36 | 0.0 | -5.68 | -244.24 | 0.0 | -2.18 | -269.49 | 0.0 | -0.83 | -1085.71 | 0.0 | 0.18 | 0.0 | 0.0 | 3.88 | -35.87 | 0.0 | 110.29 | -3.59 | 0.0 | 88.89 | -62.96 | 0.0 | 11.11 | 107.94 | 0.0 | 22.57 | -13.26 | 0.0 |
| 19Q1 (1) | 6.25 | 0.0 | 0.0 | -4.77 | 0.0 | 0.0 | -1.99 | 0.0 | 0.0 | -1.65 | 0.0 | 0.0 | -0.59 | 0.0 | 0.0 | -0.07 | 0.0 | 0.0 | 0.18 | 0.0 | 0.0 | 6.05 | 0.0 | 0.0 | 114.40 | 0.0 | 0.0 | 240.00 | 0.0 | 0.0 | -140.00 | 0.0 | 0.0 | 26.02 | 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) | 38.42 | 133.13 | 17.59 | 0 | 5.72 | -19.77 | 17.42 | 0 | 9.67 | 0 | 10.69 | 0 | 6.37 | 0 | 0.59 | 13.46 | 24.97 | 333.51 | 73.90 | -29.4 | 101.20 | 4.57 | -1.20 | 0 | 4.60 | 6843.14 | 26.30 | -19.37 |
| 2022 (9) | 16.48 | 57.25 | -3.76 | 0 | 7.13 | 29.37 | -3.83 | 0 | -3.63 | 0 | -4.02 | 0 | -0.90 | 0 | 0.52 | -24.64 | 5.76 | 5136.36 | 104.67 | -16.86 | 96.77 | 46.24 | 3.23 | -90.46 | 0.07 | 5.29 | 32.62 | 13.07 |
| 2021 (8) | 10.48 | 11.25 | -4.77 | 0 | 5.51 | -21.22 | -7.25 | 0 | -7.10 | 0 | -10.50 | 0 | -3.91 | 0 | 0.69 | 1.47 | 0.11 | -87.5 | 125.90 | 27.75 | 66.18 | -15.9 | 33.82 | 58.71 | 0.06 | -64.49 | 28.85 | 0.63 |
| 2020 (7) | 9.42 | 7.29 | -6.04 | 0 | 7.00 | 2.82 | -7.63 | 0 | -6.09 | 0 | -8.24 | 0 | -3.34 | 0 | 0.68 | -5.56 | 0.88 | -64.23 | 98.55 | -0.53 | 78.69 | 4.26 | 21.31 | -19.32 | 0.18 | 7.88 | 28.67 | 4.98 |
| 2019 (6) | 8.78 | 3.54 | -4.43 | 0 | 6.81 | 36.31 | -5.94 | 0 | -5.77 | 0 | -7.93 | 0 | -3.27 | 0 | 0.72 | 10.77 | 2.46 | -93.53 | 99.08 | 18.97 | 75.47 | 0 | 26.42 | -78.4 | 0.16 | 0 | 27.31 | -1.66 |
| 2018 (5) | 8.48 | -26.2 | -6.82 | 0 | 4.99 | 13.86 | 30.50 | 0 | 30.22 | 0 | 51.51 | 0 | 21.02 | 0 | 0.65 | -2.99 | 38.04 | 2025.14 | 83.28 | -71.54 | -22.30 | 0 | 122.30 | 126.48 | 0.00 | 0 | 27.77 | 6.11 |
| 2017 (4) | 11.49 | -32.49 | -2.24 | 0 | 4.39 | 11.33 | -4.94 | 0 | -4.47 | 0 | -10.34 | 0 | -1.78 | 0 | 0.67 | -18.29 | 1.79 | -76.51 | 292.61 | 44.11 | 44.00 | -83.08 | 54.00 | 0 | 0.00 | 0 | 26.17 | 8.05 |
| 2016 (3) | 17.02 | -1.62 | 4.59 | -6.33 | 3.94 | 10.43 | 1.73 | -51.94 | 0.81 | -70.97 | 2.04 | -70.09 | 1.97 | -38.82 | 0.82 | 2.5 | 7.62 | -13.21 | 203.05 | -1.8 | 260.00 | 87.78 | -165.00 | 0 | 0.00 | 0 | 24.22 | 2.06 |
| 2015 (2) | 17.30 | 6.07 | 4.90 | 27.94 | 3.57 | -9.66 | 3.60 | -11.76 | 2.79 | -17.7 | 6.82 | -24.64 | 3.22 | -20.3 | 0.80 | -5.88 | 8.78 | -10.22 | 206.77 | 1.34 | 138.46 | 44.9 | -35.90 | 0 | 0.00 | 0 | 23.73 | -1.08 |
| 2014 (1) | 16.31 | 0 | 3.83 | 0 | 3.95 | -23.41 | 4.08 | 0 | 3.39 | 0 | 9.05 | 0 | 4.04 | 0 | 0.85 | -12.37 | 9.78 | 5.5 | 204.04 | -10.54 | 95.56 | -35.56 | 6.67 | 0 | 0.00 | 0 | 23.99 | 3.14 |
