- 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) | 12.16 | 71.03 | -40.28 | -14.32 | -5.06 | -3146.81 | -18.74 | -31.14 | -912.97 | -21.32 | -50.99 | -1097.75 | -3.14 | -28.69 | -685.0 | -1.49 | -40.57 | -3825.0 | 0.08 | -11.11 | -27.27 | -6.11 | -89.16 | -172.14 | 78.52 | -7.3 | -25.51 | 76.00 | -20.38 | 404.0 | 24.00 | 428.0 | -76.0 | 18.36 | 13.47 | 3.61 |
| 23Q3 (19) | 7.11 | -36.35 | -60.28 | -13.63 | -40.23 | -1264.96 | -14.29 | -60.38 | -592.76 | -14.12 | -129.59 | -695.78 | -2.44 | -139.22 | -487.3 | -1.06 | -278.57 | -300.0 | 0.09 | 12.5 | -30.77 | -3.23 | -195.0 | -128.09 | 84.70 | -8.86 | -20.6 | 95.45 | -11.36 | 122.73 | 4.55 | 159.09 | -92.05 | 16.18 | -11.54 | 16.82 |
| 23Q2 (18) | 11.17 | -25.38 | -39.78 | -9.72 | -96.76 | -326.57 | -8.91 | -37.08 | -242.33 | -6.15 | 10.22 | -177.65 | -1.02 | 20.31 | -135.66 | -0.28 | 28.21 | -118.18 | 0.08 | -11.11 | -52.94 | 3.40 | -31.17 | -73.42 | 92.93 | -5.18 | -18.63 | 107.69 | 48.08 | 57.4 | -7.69 | -128.21 | -124.36 | 18.29 | -0.27 | 70.14 |
| 23Q1 (17) | 14.97 | -26.47 | -8.55 | -4.94 | -1151.06 | -609.28 | -6.50 | -251.35 | -770.1 | -6.85 | -284.83 | -978.21 | -1.28 | -220.0 | -656.52 | -0.39 | -1075.0 | -230.0 | 0.09 | -18.18 | -30.77 | 4.94 | -41.68 | -44.93 | 98.01 | -7.02 | -15.82 | 72.73 | 390.91 | -27.27 | 27.27 | -72.73 | 0 | 18.34 | 3.5 | 57.97 |
| 22Q4 (16) | 20.36 | 13.74 | 79.7 | 0.47 | -59.83 | 109.61 | -1.85 | -163.79 | 52.07 | -1.78 | -175.11 | 41.83 | -0.40 | -163.49 | 65.52 | 0.04 | -92.45 | 112.9 | 0.11 | -15.38 | -35.29 | 8.47 | -26.35 | 292.13 | 105.41 | -1.19 | -16.05 | -25.00 | -158.33 | -120.0 | 100.00 | 75.0 | 500.0 | 17.72 | 27.94 | 114.01 |
| 22Q3 (15) | 17.90 | -3.5 | 21.03 | 1.17 | -72.73 | -65.99 | 2.90 | -53.67 | -15.7 | 2.37 | -70.08 | -26.85 | 0.63 | -77.97 | -53.68 | 0.53 | -65.58 | -32.05 | 0.13 | -23.53 | -27.78 | 11.50 | -10.09 | 28.35 | 106.68 | -6.58 | -15.51 | 42.86 | -37.36 | -57.14 | 57.14 | 80.95 | 0 | 13.85 | 28.84 | 73.56 |
| 22Q2 (14) | 18.55 | 13.32 | 19.83 | 4.29 | 342.27 | -18.75 | 6.26 | 545.36 | 92.62 | 7.92 | 915.38 | 80.41 | 2.86 | 1143.48 | 32.41 | 1.54 | 413.33 | 40.0 | 0.17 | 30.77 | -19.05 | 12.79 | 42.59 | 59.48 | 114.20 | -1.92 | -16.35 | 68.42 | -31.58 | -57.64 | 31.58 | 0 | 151.32 | 10.75 | -7.41 | 47.87 |
| 22Q1 (13) | 16.37 | 44.48 | -14.29 | 0.97 | 119.84 | -88.38 | 0.97 | 125.13 | -86.91 | 0.78 | 125.49 | -89.39 | 0.23 | 119.83 | -92.51 | 0.30 | 196.77 | -79.87 | 0.13 | -23.53 | -27.78 | 8.97 | 315.28 | -31.58 | 116.43 | -7.28 | -15.14 | 100.00 | -20.0 | -11.11 | 0.00 | 100.0 | 100.0 | 11.61 | 40.22 | 33.14 |
| 21Q4 (12) | 11.33 | -23.39 | -31.79 | -4.89 | -242.15 | -17.55 | -3.86 | -212.21 | 32.4 | -3.06 | -194.44 | 43.02 | -1.16 | -185.29 | 46.05 | -0.31 | -139.74 | 55.71 | 0.17 | -5.56 | 0.0 | 2.16 | -75.89 | 237.5 | 125.57 | -0.55 | -6.6 | 125.00 | 25.0 | 73.08 | -25.00 | 0 | -190.0 | 8.28 | 3.76 | -14.73 |
| 21Q3 (11) | 14.79 | -4.46 | 18.99 | 3.44 | -34.85 | 605.88 | 3.44 | 5.85 | 201.78 | 3.24 | -26.2 | 189.26 | 1.36 | -37.04 | 220.35 | 0.78 | -29.09 | 400.0 | 0.18 | -14.29 | 28.57 | 8.96 | 11.72 | 83.61 | 126.27 | -7.51 | -1.31 | 100.00 | -38.1 | 300.0 | 0.00 | 100.0 | -100.0 | 7.98 | 9.77 | -17.48 |
| 21Q2 (10) | 15.48 | -18.95 | 53.72 | 5.28 | -36.77 | 403.45 | 3.25 | -56.14 | 258.54 | 4.39 | -40.27 | 295.11 | 2.16 | -29.64 | 391.89 | 1.10 | -26.17 | 1200.0 | 0.21 | 16.67 | 40.0 | 8.02 | -38.83 | 41.2 | 136.52 | -0.5 | 11.89 | 161.54 | 43.59 | 61.54 | -61.54 | -392.31 | -407.69 | 7.27 | -16.63 | 0 |
| 21Q1 (9) | 19.10 | 14.99 | 16.11 | 8.35 | 300.72 | 107.2 | 7.41 | 229.77 | 107.56 | 7.35 | 236.87 | 107.04 | 3.07 | 242.79 | 189.62 | 1.49 | 312.86 | 98.67 | 0.18 | 5.88 | 28.57 | 13.11 | 1948.44 | 8.08 | 137.20 | 2.05 | 15.47 | 112.50 | 55.77 | 1.25 | -12.50 | -145.0 | -12.5 | 8.72 | -10.2 | -17.35 |
| 20Q4 (8) | 16.61 | 33.63 | 16.73 | -4.16 | -511.76 | -264.43 | -5.71 | -68.93 | -374.52 | -5.37 | -47.93 | -405.11 | -2.15 | -90.27 | -477.19 | -0.70 | -169.23 | -252.17 | 0.17 | 21.43 | 13.33 | 0.64 | -86.89 | -92.43 | 134.44 | 5.07 | 17.53 | 72.22 | 188.89 | -48.41 | 27.78 | -68.25 | 238.89 | 9.71 | 0.41 | -7.87 |
| 20Q3 (7) | 12.43 | 23.44 | -18.86 | -0.68 | 60.92 | -117.48 | -3.38 | -64.88 | -179.16 | -3.63 | -61.33 | -169.94 | -1.13 | -52.7 | -173.86 | -0.26 | -160.0 | -128.26 | 0.14 | -6.67 | 0.0 | 4.88 | -14.08 | -55.31 | 127.95 | 4.87 | 22.78 | 25.00 | -75.0 | -72.22 | 87.50 | 337.5 | 775.0 | 9.67 | 0 | -16.57 |
| 20Q2 (6) | 10.07 | -38.78 | -45.33 | -1.74 | -143.18 | -291.21 | -2.05 | -157.42 | -555.56 | -2.25 | -163.38 | -157.25 | -0.74 | -169.81 | -161.67 | -0.10 | -113.33 | -113.51 | 0.15 | 7.14 | 7.14 | 5.68 | -53.17 | -18.16 | 122.01 | 2.68 | 14.71 | 100.00 | -10.0 | -50.0 | 20.00 | 280.0 | 120.0 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 16.45 | 15.6 | 1.73 | 4.03 | 59.29 | 142.77 | 3.57 | 71.63 | 501.12 | 3.55 | 101.7 | 646.15 | 1.06 | 85.96 | 657.89 | 0.75 | 63.04 | 837.5 | 0.14 | -6.67 | 7.69 | 12.13 | 43.38 | 110.96 | 118.82 | 3.87 | 1.44 | 111.11 | -20.63 | 155.56 | -11.11 | 44.44 | -103.7 | 10.55 | 0.09 | -22.82 |
| 19Q4 (4) | 14.23 | -7.11 | 0.0 | 2.53 | -34.96 | 0.0 | 2.08 | -51.29 | 0.0 | 1.76 | -66.09 | 0.0 | 0.57 | -62.75 | 0.0 | 0.46 | -50.0 | 0.0 | 0.15 | 7.14 | 0.0 | 8.46 | -22.53 | 0.0 | 114.39 | 9.77 | 0.0 | 140.00 | 55.56 | 0.0 | -20.00 | -300.0 | 0.0 | 10.54 | -9.06 | 0.0 |
| 19Q3 (3) | 15.32 | -16.83 | 0.0 | 3.89 | 327.47 | 0.0 | 4.27 | 848.89 | 0.0 | 5.19 | 32.06 | 0.0 | 1.53 | 27.5 | 0.0 | 0.92 | 24.32 | 0.0 | 0.14 | 0.0 | 0.0 | 10.92 | 57.35 | 0.0 | 104.21 | -2.02 | 0.0 | 90.00 | -55.0 | 0.0 | 10.00 | 110.0 | 0.0 | 11.59 | -0.6 | 0.0 |
| 19Q2 (2) | 18.42 | 13.91 | 0.0 | 0.91 | -45.18 | 0.0 | 0.45 | 150.56 | 0.0 | 3.93 | 704.62 | 0.0 | 1.20 | 731.58 | 0.0 | 0.74 | 825.0 | 0.0 | 0.14 | 7.69 | 0.0 | 6.94 | 20.7 | 0.0 | 106.36 | -9.19 | 0.0 | 200.00 | 200.0 | 0.0 | -100.00 | -133.33 | 0.0 | 11.66 | -14.7 | 0.0 |
| 19Q1 (1) | 16.17 | 0.0 | 0.0 | 1.66 | 0.0 | 0.0 | -0.89 | 0.0 | 0.0 | -0.65 | 0.0 | 0.0 | -0.19 | 0.0 | 0.0 | 0.08 | 0.0 | 0.0 | 0.13 | 0.0 | 0.0 | 5.75 | 0.0 | 0.0 | 117.13 | 0.0 | 0.0 | -200.00 | 0.0 | 0.0 | 300.00 | 0.0 | 0.0 | 13.67 | 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) | 11.37 | -37.6 | -10.45 | 0 | 8.42 | 39.7 | -11.82 | 0 | -11.76 | 0 | -8.21 | 0 | -3.28 | 0 | 0.36 | -33.33 | 0.00 | 0 | 78.52 | -25.51 | 88.57 | 11.88 | 11.43 | -45.14 | 0.00 | 0 | 17.77 | 35.65 |
| 2022 (9) | 18.22 | 4.53 | 1.96 | -47.87 | 6.03 | 29.87 | 2.53 | -18.39 | 2.89 | -19.72 | 3.37 | -39.71 | 2.45 | -24.62 | 0.54 | -19.4 | 10.57 | 13.9 | 105.41 | -16.05 | 79.17 | -34.91 | 20.83 | 0 | 0.00 | 0 | 13.10 | 42.86 |
| 2021 (8) | 17.43 | 4.87 | 3.76 | 0 | 4.64 | -29.86 | 3.10 | 0 | 3.60 | 0 | 5.59 | 0 | 3.25 | 0 | 0.67 | 31.37 | 9.28 | 42.77 | 125.57 | -6.6 | 121.62 | 179.73 | -21.62 | 0 | 0.00 | 0 | 9.17 | -19.7 |
| 2020 (7) | 16.62 | 3.81 | -1.07 | 0 | 6.61 | 33.53 | -2.57 | 0 | -2.58 | 0 | -2.93 | 0 | -0.33 | 0 | 0.51 | -7.27 | 6.50 | -19.25 | 134.44 | 17.53 | 43.48 | -70.36 | 56.52 | 0 | 0.00 | 0 | 11.42 | -3.3 |
| 2019 (6) | 16.01 | 116.64 | 2.25 | 0 | 4.95 | -12.52 | 1.51 | -96.59 | 2.59 | -88.22 | 3.15 | -87.94 | 2.09 | -82.5 | 0.55 | 7.84 | 8.05 | -84.39 | 114.39 | -12.09 | 146.67 | 0 | -46.67 | 0 | 0.00 | 0 | 11.81 | -17.87 |
| 2018 (5) | 7.39 | -20.19 | -11.80 | 0 | 5.66 | -29.92 | 44.34 | 0 | 21.99 | 0 | 26.11 | 0 | 11.94 | 0 | 0.51 | 21.43 | 51.57 | 0 | 130.12 | -3.02 | -26.63 | 0 | 126.63 | 0 | 0.00 | 0 | 14.38 | -18.76 |
| 2017 (4) | 9.26 | 3.7 | -15.65 | 0 | 8.08 | -9.56 | -15.70 | 0 | -17.49 | 0 | -15.72 | 0 | -6.58 | 0 | 0.42 | 10.53 | -5.56 | 0 | 134.17 | 33.89 | 100.00 | 93.48 | -0.00 | 0 | 0.00 | 0 | 17.70 | -5.2 |
| 2016 (3) | 8.93 | -30.45 | -15.87 | 0 | 8.93 | 12.39 | -30.63 | 0 | -33.00 | 0 | -23.55 | 0 | -10.84 | 0 | 0.38 | -9.52 | -16.32 | 0 | 100.21 | 28.08 | 51.69 | -35.91 | 48.31 | 149.63 | 0.00 | 0 | 18.67 | 19.83 |
| 2015 (2) | 12.84 | 66.32 | -7.00 | 0 | 7.95 | -6.87 | -8.69 | 0 | -11.83 | 0 | -8.80 | 0 | -4.03 | 0 | 0.42 | 2.44 | 1.95 | 0 | 78.24 | 4.03 | 80.65 | -6.52 | 19.35 | 51.86 | 0.00 | 0 | 15.58 | -7.43 |
| 2014 (1) | 7.72 | 0 | -12.00 | 0 | 8.54 | 6.29 | -13.77 | 0 | -16.02 | 0 | -11.09 | 0 | -5.64 | 0 | 0.41 | -6.82 | -2.57 | 0 | 75.21 | 16.97 | 86.27 | -38.49 | 12.75 | 0 | 0.00 | 0 | 16.83 | -0.53 |
