- 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) | -4.35 | -151.72 | -186.83 | -22.19 | -20.79 | -103.02 | -24.18 | -111.06 | -73.33 | -16.78 | -111.68 | -19.43 | -3.73 | -108.74 | 22.13 | -1.23 | -108.21 | 21.15 | 0.08 | -20.0 | -33.33 | -14.75 | -106.51 | -133.76 | 168.68 | 7.02 | -10.41 | 91.98 | 1193.78 | 17.52 | 8.02 | -92.6 | -63.09 | 10.12 | -66.37 | -37.34 |
| 23Q3 (19) | 8.41 | 51.53 | -20.44 | -18.37 | -21.49 | -148.92 | 218.66 | 819.51 | 4490.76 | 143.64 | 571.41 | 2530.46 | 42.70 | 504.74 | 2049.77 | 14.99 | 569.91 | 2272.46 | 0.10 | -9.09 | -23.08 | 226.46 | 1103.37 | 7629.01 | 157.61 | -32.91 | -12.86 | -8.41 | -116.97 | -105.69 | 108.41 | 114.88 | 326.67 | 30.09 | 19.4 | 42.81 |
| 23Q2 (18) | 5.55 | -15.4 | -16.16 | -15.12 | -35.0 | -2.65 | -30.39 | -161.53 | -131.98 | -30.47 | -158.88 | -166.81 | -10.55 | -163.75 | -244.77 | -3.19 | -159.35 | -212.75 | 0.11 | -8.33 | 10.0 | -22.57 | -450.49 | -5229.55 | 234.93 | 17.23 | 37.39 | 49.55 | -48.17 | -55.85 | 50.45 | 1430.33 | 512.78 | 25.20 | 9.19 | -4.65 |
| 23Q1 (17) | 6.56 | 30.94 | -51.87 | -11.20 | -2.47 | -182.83 | -11.62 | 16.7 | -524.73 | -11.77 | 16.23 | -684.67 | -4.00 | 16.49 | -669.23 | -1.23 | 21.15 | -1018.18 | 0.12 | 0.0 | -7.69 | -4.10 | 35.02 | -152.23 | 200.40 | 6.44 | 21.71 | 95.60 | 22.16 | -54.85 | 3.30 | -84.84 | 102.95 | 23.08 | 42.91 | 14.2 |
| 22Q4 (16) | 5.01 | -52.6 | -67.78 | -10.93 | -48.1 | -4454.17 | -13.95 | -180.12 | -1522.09 | -14.05 | -137.73 | -4744.83 | -4.79 | -118.72 | -4254.55 | -1.56 | -126.09 | -2328.57 | 0.12 | -7.69 | -20.0 | -6.31 | -315.36 | -184.47 | 188.28 | 4.1 | 17.34 | 78.26 | -47.06 | 213.04 | 21.74 | 145.45 | -71.01 | 16.15 | -23.35 | -15.71 |
| 22Q3 (15) | 10.57 | 59.67 | -37.86 | -7.38 | 49.9 | -7480.0 | -4.98 | 61.98 | -351.52 | -5.91 | 48.25 | -299.32 | -2.19 | 28.43 | -298.18 | -0.69 | 32.35 | -590.0 | 0.13 | 30.0 | -7.14 | 2.93 | 565.91 | -71.3 | 180.86 | 5.77 | 14.58 | 147.83 | 31.73 | 2708.7 | -47.83 | -291.3 | -150.48 | 21.07 | -20.28 | 9.57 |
| 22Q2 (14) | 6.62 | -51.43 | -74.82 | -14.73 | -271.97 | -243.99 | -13.10 | -604.3 | -234.64 | -11.42 | -661.33 | -253.08 | -3.06 | -488.46 | -203.73 | -1.02 | -827.27 | -182.93 | 0.10 | -23.08 | -33.33 | 0.44 | -94.39 | -97.54 | 170.99 | 3.84 | 8.06 | 112.22 | -47.01 | 6.88 | -12.22 | 89.06 | -144.44 | 26.43 | 30.78 | 57.6 |
| 22Q1 (13) | 13.63 | -12.35 | -33.02 | -3.96 | -1550.0 | -182.16 | -1.86 | -116.28 | -139.32 | -1.50 | -417.24 | -140.0 | -0.52 | -372.73 | -137.96 | -0.11 | -257.14 | -116.42 | 0.13 | -13.33 | -13.33 | 7.85 | 5.09 | -36.9 | 164.66 | 2.62 | -2.56 | 211.76 | 747.06 | 107.53 | -111.76 | -249.02 | -5376.47 | 20.21 | 5.48 | 9.18 |
| 21Q4 (12) | 15.55 | -8.58 | -50.96 | -0.24 | -340.0 | -101.47 | -0.86 | -143.43 | -104.3 | -0.29 | 80.41 | -101.81 | -0.11 | 80.0 | -101.72 | 0.07 | 170.0 | -97.67 | 0.15 | 7.14 | -16.67 | 7.47 | -26.84 | -71.26 | 160.45 | 1.65 | 30.48 | 25.00 | 375.0 | -69.32 | 75.00 | -20.83 | 305.0 | 19.16 | -0.36 | 9.93 |
| 21Q3 (11) | 17.01 | -35.3 | -49.44 | 0.10 | -99.02 | -99.54 | 1.98 | -79.65 | -94.27 | -1.48 | -119.84 | -104.9 | -0.55 | -118.64 | -103.55 | -0.10 | -108.13 | -101.48 | 0.14 | -6.67 | -36.36 | 10.21 | -42.8 | -73.98 | 157.84 | -0.25 | 27.71 | 5.26 | -94.99 | -91.67 | 94.74 | 1994.74 | 157.07 | 19.23 | 14.67 | 36.0 |
| 21Q2 (10) | 26.29 | 29.19 | -14.92 | 10.23 | 112.24 | -44.37 | 9.73 | 105.71 | -46.77 | 7.46 | 98.93 | -48.59 | 2.95 | 115.33 | -62.28 | 1.23 | 83.58 | -63.17 | 0.15 | 0.0 | -31.82 | 17.85 | 43.49 | -27.7 | 158.23 | -6.37 | 6.96 | 105.00 | 2.9 | 4.13 | -5.00 | -145.0 | -1090.0 | 16.77 | -9.4 | 0 |
| 21Q1 (9) | 20.35 | -35.82 | -2.3 | 4.82 | -70.43 | -41.29 | 4.73 | -76.34 | -41.68 | 3.75 | -76.53 | -41.04 | 1.37 | -78.63 | -57.32 | 0.67 | -77.67 | -54.73 | 0.15 | -16.67 | -25.0 | 12.44 | -52.14 | -11.84 | 168.99 | 37.42 | 14.89 | 102.04 | 25.23 | 0.98 | -2.04 | -111.02 | -93.88 | 18.51 | 6.2 | 28.19 |
| 20Q4 (8) | 31.71 | -5.74 | 84.36 | 16.30 | -25.33 | 246.07 | 19.99 | -42.16 | 412.56 | 15.98 | -47.05 | 436.24 | 6.41 | -58.62 | 381.95 | 3.00 | -55.56 | 284.62 | 0.18 | -18.18 | -5.26 | 25.99 | -33.77 | 139.1 | 122.97 | -0.5 | -16.62 | 81.48 | 29.03 | -33.19 | 18.52 | -49.75 | 184.36 | 17.43 | 23.27 | 5.51 |
| 20Q3 (7) | 33.64 | 8.87 | 185.81 | 21.83 | 18.71 | 1009.58 | 34.56 | 89.06 | 1389.55 | 30.18 | 107.99 | 1412.17 | 15.49 | 98.08 | 1633.66 | 6.75 | 102.1 | 2912.5 | 0.22 | 0.0 | 15.79 | 39.24 | 58.93 | 873.7 | 123.59 | -16.46 | -7.44 | 63.15 | -37.38 | -29.57 | 36.85 | 8871.01 | 256.25 | 14.14 | 0 | -11.96 |
| 20Q2 (6) | 30.90 | 48.34 | 105.18 | 18.39 | 124.0 | 1057.81 | 18.28 | 125.4 | 996.08 | 14.51 | 128.14 | 943.6 | 7.82 | 143.61 | 1361.29 | 3.34 | 125.68 | 3811.11 | 0.22 | 10.0 | 37.5 | 24.69 | 74.98 | 330.89 | 147.94 | 0.58 | 15.95 | 100.84 | -0.21 | 12.7 | -0.42 | 60.08 | -107.98 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 20.83 | 21.1 | 29.06 | 8.21 | 74.31 | 341.4 | 8.11 | 107.95 | 266.97 | 6.36 | 113.42 | 271.93 | 3.21 | 141.35 | 365.22 | 1.48 | 89.74 | 202.04 | 0.20 | 5.26 | 11.11 | 14.11 | 29.81 | 49.0 | 147.09 | -0.26 | 19.88 | 101.05 | -17.14 | 22.33 | -1.05 | 95.2 | -106.05 | 14.44 | -12.59 | -8.08 |
| 19Q4 (4) | 17.20 | 46.13 | 0.0 | 4.71 | 296.25 | 0.0 | 3.90 | 245.52 | 0.0 | 2.98 | 229.57 | 0.0 | 1.33 | 231.68 | 0.0 | 0.78 | 425.0 | 0.0 | 0.19 | 0.0 | 0.0 | 10.87 | 169.73 | 0.0 | 147.48 | 10.46 | 0.0 | 121.95 | 36.02 | 0.0 | -21.95 | -312.2 | 0.0 | 16.52 | 2.86 | 0.0 |
| 19Q3 (3) | 11.77 | -21.85 | 0.0 | -2.40 | -25.0 | 0.0 | -2.68 | -31.37 | 0.0 | -2.30 | -33.72 | 0.0 | -1.01 | -62.9 | 0.0 | -0.24 | -166.67 | 0.0 | 0.19 | 18.75 | 0.0 | 4.03 | -29.67 | 0.0 | 133.52 | 4.65 | 0.0 | 89.66 | 0.2 | 0.0 | 10.34 | 96.55 | 0.0 | 16.06 | -12.05 | 0.0 |
| 19Q2 (2) | 15.06 | -6.69 | 0.0 | -1.92 | -203.23 | 0.0 | -2.04 | -192.31 | 0.0 | -1.72 | -200.58 | 0.0 | -0.62 | -189.86 | 0.0 | -0.09 | -118.37 | 0.0 | 0.16 | -11.11 | 0.0 | 5.73 | -39.49 | 0.0 | 127.59 | 3.99 | 0.0 | 89.47 | 8.31 | 0.0 | 5.26 | -69.74 | 0.0 | 18.26 | 16.23 | 0.0 |
| 19Q1 (1) | 16.14 | 0.0 | 0.0 | 1.86 | 0.0 | 0.0 | 2.21 | 0.0 | 0.0 | 1.71 | 0.0 | 0.0 | 0.69 | 0.0 | 0.0 | 0.49 | 0.0 | 0.0 | 0.18 | 0.0 | 0.0 | 9.47 | 0.0 | 0.0 | 122.70 | 0.0 | 0.0 | 82.61 | 0.0 | 0.0 | 17.39 | 0.0 | 0.0 | 15.71 | 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) | 4.29 | -53.52 | -16.53 | 0 | 6.16 | -26.51 | 40.09 | 0 | 22.42 | 0 | 24.90 | 0 | 9.58 | 0 | 0.40 | -18.37 | 48.20 | 3071.05 | 168.68 | -10.41 | -41.26 | 0 | 141.26 | 0 | 0.04 | -13.72 | 22.45 | 8.35 |
| 2022 (9) | 9.23 | -53.59 | -8.82 | 0 | 8.38 | 17.65 | -8.00 | 0 | -7.83 | 0 | -10.51 | 0 | -3.41 | 0 | 0.49 | -15.52 | 1.52 | -87.41 | 188.28 | 17.34 | 110.45 | 14.75 | -10.45 | 0 | 0.04 | 203.27 | 20.72 | 12.61 |
| 2021 (8) | 19.89 | -32.67 | 3.83 | -76.79 | 7.13 | 50.4 | 3.98 | -80.89 | 2.45 | -85.84 | 3.42 | -89.46 | 1.87 | -87.14 | 0.58 | -27.5 | 12.07 | -54.62 | 160.45 | 30.48 | 96.25 | 21.49 | 3.75 | -81.95 | 0.01 | 1.12 | 18.40 | 20.58 |
| 2020 (7) | 29.54 | 96.67 | 16.50 | 2478.12 | 4.74 | -17.15 | 20.83 | 4980.49 | 17.30 | 7763.64 | 32.46 | 8672.97 | 14.54 | 1446.81 | 0.80 | 11.11 | 26.60 | 252.79 | 122.97 | -16.62 | 79.23 | -48.2 | 20.77 | 0 | 0.01 | -58.95 | 15.26 | -8.02 |
| 2019 (6) | 15.02 | -4.15 | 0.64 | 0 | 5.72 | -16.14 | 0.41 | 0 | 0.22 | 0 | 0.37 | 0 | 0.94 | 394.74 | 0.72 | 12.5 | 7.54 | -2.33 | 147.48 | 20.22 | 152.94 | 150.27 | -52.94 | 0 | 0.04 | -60.93 | 16.59 | 4.73 |
| 2018 (5) | 15.67 | -8.79 | -0.30 | 0 | 6.82 | -6.98 | -0.51 | 0 | -0.72 | 0 | -1.00 | 0 | 0.19 | -92.12 | 0.64 | -4.48 | 7.72 | -36.09 | 122.68 | 13.05 | 61.11 | -18.74 | 38.89 | 56.81 | 0.09 | 0 | 15.84 | 4.97 |
| 2017 (4) | 17.18 | 20.99 | 2.51 | 617.14 | 7.33 | -19.62 | 3.35 | 0 | 2.61 | 0 | 3.73 | 0 | 2.41 | 0 | 0.67 | 0.0 | 12.08 | 0 | 108.52 | -8.14 | 75.20 | 0 | 24.80 | -75.86 | 0.00 | 0 | 15.09 | 3.14 |
| 2016 (3) | 14.20 | 2.23 | 0.35 | 0.0 | 9.12 | -6.4 | -12.46 | 0 | -13.57 | 0 | -18.94 | 0 | -8.51 | 0 | 0.67 | 1.52 | -1.98 | 0 | 118.14 | 16.28 | -2.74 | 0 | 102.74 | -50.4 | 0.00 | 0 | 14.63 | 2.16 |
| 2015 (2) | 13.89 | 3.58 | 0.35 | 0 | 9.74 | -1.87 | -0.30 | 0 | -0.28 | 0 | -0.38 | 0 | 0.51 | -8.93 | 0.66 | 6.45 | 11.06 | 3.27 | 101.60 | -2.8 | -107.14 | 0 | 207.14 | 0 | 0.00 | 0 | 14.32 | 1.56 |
| 2014 (1) | 13.41 | 0 | -0.83 | 0 | 9.93 | 2.36 | -0.82 | 0 | -0.11 | 0 | -0.14 | 0 | 0.56 | 0 | 0.62 | -1.59 | 10.71 | -4.12 | 104.53 | 0.06 | 100.00 | 0 | -0.00 | 0 | 0.00 | 0 | 14.10 | 8.88 |
