- 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) | 0.36 | -96.43 | -64.71 | -4.86 | -193.64 | -11.98 | -9.99 | -86.03 | 52.13 | -8.11 | -75.54 | 48.48 | -3.15 | -47.89 | 39.07 | -1.34 | -63.41 | 48.46 | 0.18 | -14.29 | 5.88 | -6.25 | -189.35 | 63.02 | 104.63 | -9.38 | 17.85 | 48.55 | 150.4 | 133.65 | 51.45 | -73.8 | -35.06 | 5.21 | 2.16 | -3.34 |
| 23Q3 (19) | 10.09 | -0.79 | -12.94 | 5.19 | 4.01 | 17.69 | -5.37 | -160.4 | -169.83 | -4.62 | -185.87 | -175.74 | -2.13 | -201.91 | -179.48 | -0.82 | -171.3 | -158.16 | 0.21 | 10.53 | -4.55 | -2.16 | -117.96 | -121.32 | 115.46 | -5.03 | 23.37 | -96.35 | -271.9 | -268.11 | 196.35 | 346.72 | 359.97 | 5.10 | -7.94 | 8.05 |
| 23Q2 (18) | 10.17 | 36.33 | -41.65 | 4.99 | 84.13 | -48.34 | 8.89 | 309.68 | -14.44 | 5.38 | 124.17 | -28.17 | 2.09 | 137.5 | -47.36 | 1.15 | 94.92 | -43.35 | 0.19 | 0.0 | -26.92 | 12.03 | 124.02 | -1.39 | 121.58 | 30.03 | 6.7 | 56.05 | -55.59 | -39.75 | 43.95 | 275.81 | 529.99 | 5.54 | -6.1 | 11.24 |
| 23Q1 (17) | 7.46 | 631.37 | -60.51 | 2.71 | 162.44 | -73.99 | 2.17 | 110.4 | -83.95 | 2.40 | 115.25 | -76.77 | 0.88 | 117.02 | -80.36 | 0.59 | 122.69 | -74.68 | 0.19 | 11.76 | -13.64 | 5.37 | 131.78 | -65.53 | 93.50 | 5.32 | 1.74 | 126.19 | 507.24 | 63.9 | -25.00 | -131.56 | -208.66 | 5.90 | 9.46 | 8.06 |
| 22Q4 (16) | 1.02 | -91.2 | -94.3 | -4.34 | -198.41 | -149.94 | -20.87 | -371.39 | -252.89 | -15.74 | -358.03 | -269.8 | -5.17 | -292.91 | -210.94 | -2.60 | -284.4 | -207.0 | 0.17 | -22.73 | -34.62 | -16.90 | -266.83 | -209.6 | 88.78 | -5.14 | -13.74 | 20.78 | -63.74 | -67.34 | 79.22 | 85.58 | 117.77 | 5.39 | 14.19 | -18.58 |
| 22Q3 (15) | 11.59 | -33.51 | -36.49 | 4.41 | -54.35 | -52.01 | 7.69 | -25.99 | -5.3 | 6.10 | -18.56 | 0.0 | 2.68 | -32.49 | -24.08 | 1.41 | -30.54 | -30.54 | 0.22 | -15.38 | -33.33 | 10.13 | -16.97 | 5.19 | 93.59 | -17.87 | 3.31 | 57.31 | -38.39 | -49.38 | 42.69 | 511.84 | 422.77 | 4.72 | -5.22 | 13.73 |
| 22Q2 (14) | 17.43 | -7.73 | 13.48 | 9.66 | -7.29 | 25.62 | 10.39 | -23.15 | 19.01 | 7.49 | -27.49 | 8.08 | 3.97 | -11.38 | 15.74 | 2.03 | -12.88 | -7.31 | 0.26 | 18.18 | -16.13 | 12.20 | -21.69 | 16.3 | 113.95 | 23.99 | 74.74 | 93.02 | 20.82 | 5.57 | 6.98 | -69.68 | -41.3 | 4.98 | -8.79 | -3.3 |
| 22Q1 (13) | 18.89 | 5.47 | 55.6 | 10.42 | 19.91 | 125.54 | 13.52 | -0.95 | 66.5 | 10.33 | 11.43 | 77.19 | 4.48 | -3.86 | 100.9 | 2.33 | -4.12 | 53.29 | 0.22 | -15.38 | -12.0 | 15.58 | 1.04 | 50.97 | 91.90 | -10.71 | 68.96 | 76.99 | 21.02 | 34.86 | 23.01 | -36.75 | -46.83 | 5.46 | -17.52 | 1.49 |
| 21Q4 (12) | 17.91 | -1.86 | 93.0 | 8.69 | -5.44 | 385.47 | 13.65 | 68.1 | 635.29 | 9.27 | 51.97 | 694.23 | 4.66 | 32.01 | 917.54 | 2.43 | 19.7 | 859.38 | 0.26 | -21.21 | 13.04 | 15.42 | 60.12 | 51300.0 | 102.92 | 13.61 | 126.9 | 63.62 | -43.81 | 191.23 | 36.38 | 375.07 | -78.57 | 6.62 | 59.52 | 6.95 |
| 21Q3 (11) | 18.25 | 18.82 | 86.03 | 9.19 | 19.51 | 94.29 | 8.12 | -6.99 | 8.12 | 6.10 | -11.98 | 0.16 | 3.53 | 2.92 | 32.21 | 2.03 | -7.31 | 23.03 | 0.33 | 6.45 | 26.92 | 9.63 | -8.2 | -3.02 | 90.59 | 38.92 | 27.41 | 113.23 | 28.5 | 79.92 | -13.23 | -211.26 | -135.68 | 4.15 | -19.42 | -24.95 |
| 21Q2 (10) | 15.36 | 26.52 | 60.17 | 7.69 | 66.45 | 75.97 | 8.73 | 7.51 | 51.83 | 6.93 | 18.87 | 45.89 | 3.43 | 53.81 | 81.48 | 2.19 | 44.08 | 79.51 | 0.31 | 24.0 | 24.0 | 10.49 | 1.65 | 26.23 | 65.21 | 19.89 | 5.59 | 88.11 | 54.34 | 15.87 | 11.89 | -72.53 | -50.37 | 5.15 | -4.28 | -14.45 |
| 21Q1 (9) | 12.14 | 30.82 | 39.22 | 4.62 | 158.1 | 25.54 | 8.12 | 418.43 | 61.75 | 5.83 | 473.72 | 52.62 | 2.23 | 491.23 | 16.15 | 1.52 | 575.0 | 21.6 | 0.25 | 8.7 | -19.35 | 10.32 | 34300.0 | 47.64 | 54.39 | 19.91 | -10.08 | 57.09 | 181.87 | -22.37 | 43.27 | -74.51 | 63.57 | 5.38 | -13.09 | 5.28 |
| 20Q4 (8) | 9.28 | -5.4 | 72.49 | 1.79 | -62.16 | 8850.0 | -2.55 | -133.95 | -155.0 | -1.56 | -125.62 | -100.0 | -0.57 | -121.35 | -50.0 | -0.32 | -119.39 | -77.78 | 0.23 | -11.54 | -23.33 | 0.03 | -99.7 | -96.81 | 45.36 | -36.2 | -28.02 | -69.74 | -210.81 | -2480.26 | 169.74 | 357.89 | 65.27 | 6.19 | 11.93 | 0 |
| 20Q3 (7) | 9.81 | 2.29 | -5.76 | 4.73 | 8.24 | -19.83 | 7.51 | 30.61 | 35.07 | 6.09 | 28.21 | 38.1 | 2.67 | 41.27 | 2.69 | 1.65 | 35.25 | -1.79 | 0.26 | 4.0 | -29.73 | 9.93 | 19.49 | 40.25 | 71.10 | 15.12 | 13.09 | 62.93 | -17.25 | -40.59 | 37.07 | 54.76 | 725.23 | 5.53 | -8.14 | 44.01 |
| 20Q2 (6) | 9.59 | 9.98 | -9.27 | 4.37 | 18.75 | -29.06 | 5.75 | 14.54 | -10.16 | 4.75 | 24.35 | -6.13 | 1.89 | -1.56 | -26.74 | 1.22 | -2.4 | -29.07 | 0.25 | -19.35 | -26.47 | 8.31 | 18.88 | 5.32 | 61.76 | 2.1 | 9.29 | 76.05 | 3.4 | -21.18 | 23.95 | -9.46 | 513.17 | 6.02 | 17.81 | 23.36 |
| 20Q1 (5) | 8.72 | 62.08 | -27.51 | 3.68 | 18300.0 | -48.31 | 5.02 | 602.0 | -33.77 | 3.82 | 589.74 | -38.49 | 1.92 | 605.26 | -38.46 | 1.25 | 794.44 | -41.86 | 0.31 | 3.33 | -8.82 | 6.99 | 643.62 | -21.64 | 60.49 | -4.01 | 27.21 | 73.54 | 2821.16 | -21.57 | 26.46 | -74.24 | 324.67 | 5.11 | 0 | 6.24 |
| 19Q4 (4) | 5.38 | -48.32 | 0.0 | 0.02 | -99.66 | 0.0 | -1.00 | -117.99 | 0.0 | -0.78 | -117.69 | 0.0 | -0.38 | -114.62 | 0.0 | -0.18 | -110.71 | 0.0 | 0.30 | -18.92 | 0.0 | 0.94 | -86.72 | 0.0 | 63.02 | 0.24 | 0.0 | -2.70 | -102.55 | 0.0 | 102.70 | 1832.25 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 10.41 | -1.51 | 0.0 | 5.90 | -4.22 | 0.0 | 5.56 | -13.13 | 0.0 | 4.41 | -12.85 | 0.0 | 2.60 | 0.78 | 0.0 | 1.68 | -2.33 | 0.0 | 0.37 | 8.82 | 0.0 | 7.08 | -10.27 | 0.0 | 62.87 | 11.25 | 0.0 | 105.93 | 9.79 | 0.0 | -5.93 | -251.78 | 0.0 | 3.84 | -21.31 | 0.0 |
| 19Q2 (2) | 10.57 | -12.14 | 0.0 | 6.16 | -13.48 | 0.0 | 6.40 | -15.57 | 0.0 | 5.06 | -18.52 | 0.0 | 2.58 | -17.31 | 0.0 | 1.72 | -20.0 | 0.0 | 0.34 | 0.0 | 0.0 | 7.89 | -11.55 | 0.0 | 56.51 | 18.84 | 0.0 | 96.48 | 2.89 | 0.0 | 3.91 | -37.29 | 0.0 | 4.88 | 1.46 | 0.0 |
| 19Q1 (1) | 12.03 | 0.0 | 0.0 | 7.12 | 0.0 | 0.0 | 7.58 | 0.0 | 0.0 | 6.21 | 0.0 | 0.0 | 3.12 | 0.0 | 0.0 | 2.15 | 0.0 | 0.0 | 0.34 | 0.0 | 0.0 | 8.92 | 0.0 | 0.0 | 47.55 | 0.0 | 0.0 | 93.77 | 0.0 | 0.0 | 6.23 | 0.0 | 0.0 | 4.81 | 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) | 7.23 | -44.08 | 2.23 | -60.39 | 2.32 | 18.24 | -0.92 | 0 | -1.11 | 0 | -1.75 | 0 | -0.29 | 0 | 0.80 | -8.05 | 2.38 | -63.61 | 104.63 | 17.85 | -240.43 | 0 | 340.43 | 0 | 0.04 | -4.56 | 5.44 | 6.46 |
| 2022 (9) | 12.93 | -20.53 | 5.63 | -27.91 | 1.97 | 27.07 | 4.07 | -58.13 | 3.08 | -56.56 | 5.23 | -61.63 | 3.01 | -62.33 | 0.87 | -20.91 | 6.54 | -43.13 | 88.78 | -13.74 | 138.19 | 71.92 | -38.19 | 0 | 0.05 | 45.54 | 5.11 | -3.22 |
| 2021 (8) | 16.27 | 74.57 | 7.81 | 113.97 | 1.55 | -27.14 | 9.72 | 141.19 | 7.09 | 112.91 | 13.63 | 166.21 | 7.99 | 126.35 | 1.10 | 10.0 | 11.50 | 79.97 | 102.92 | 126.9 | 80.38 | -11.49 | 19.56 | 113.08 | 0.03 | 0 | 5.28 | -6.88 |
| 2020 (7) | 9.32 | -3.92 | 3.65 | -25.81 | 2.12 | 51.87 | 4.03 | -15.51 | 3.33 | -12.83 | 5.12 | -37.1 | 3.53 | -34.87 | 1.00 | -27.01 | 6.39 | 0.95 | 45.36 | -28.02 | 90.82 | -12.01 | 9.18 | 0 | 0.00 | 0 | 5.67 | 18.87 |
| 2019 (6) | 9.70 | -8.14 | 4.92 | -16.75 | 1.40 | 41.5 | 4.77 | -20.5 | 3.82 | -19.75 | 8.14 | -30.96 | 5.42 | -31.99 | 1.37 | -15.43 | 6.33 | -12.21 | 63.02 | 31.73 | 103.22 | 4.77 | -3.22 | 0 | 0.00 | 0 | 4.77 | 6.95 |
| 2018 (5) | 10.56 | 1.93 | 5.91 | 4.23 | 0.99 | -4.83 | 6.00 | 17.65 | 4.76 | 12.26 | 11.79 | 8.56 | 7.97 | 10.85 | 1.62 | -1.22 | 7.21 | 13.9 | 47.84 | -19.03 | 98.52 | -11.31 | 1.48 | 0 | 0.00 | 0 | 4.46 | 5.44 |
| 2017 (4) | 10.36 | 1.37 | 5.67 | 3.28 | 1.04 | -8.52 | 5.10 | -3.41 | 4.24 | -5.78 | 10.86 | -0.55 | 7.19 | -3.88 | 1.64 | 1.23 | 6.33 | -3.21 | 59.08 | 8.84 | 111.09 | 6.95 | -10.99 | 0 | 0.00 | 0 | 4.23 | -5.58 |
| 2016 (3) | 10.22 | 39.62 | 5.49 | 80.0 | 1.13 | 7.48 | 5.28 | 54.84 | 4.50 | 55.71 | 10.92 | 47.37 | 7.48 | 46.09 | 1.62 | -4.71 | 6.54 | 42.17 | 54.28 | 22.2 | 103.87 | 16.09 | -3.87 | 0 | 0.00 | 0 | 4.48 | 18.21 |
| 2015 (2) | 7.32 | -14.69 | 3.05 | -27.9 | 1.06 | 49.96 | 3.41 | -23.37 | 2.89 | -25.32 | 7.41 | -46.84 | 5.12 | -42.21 | 1.70 | -22.73 | 4.60 | -14.02 | 44.42 | -21.06 | 89.47 | -5.78 | 10.53 | 112.78 | 0.00 | 0 | 3.79 | 25.91 |
| 2014 (1) | 8.58 | 0 | 4.23 | 0 | 0.70 | -0.06 | 4.45 | 0 | 3.87 | 0 | 13.94 | 0 | 8.86 | 0 | 2.20 | 4.27 | 5.35 | 34.42 | 56.27 | -21.52 | 94.96 | 6.57 | 4.95 | -54.56 | 0.00 | 0 | 3.01 | 10.66 |
