- 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) | 22.24 | 3.97 | 44.51 | 12.11 | 6.79 | 79.67 | 13.46 | 10.87 | 22.59 | 8.82 | 3.89 | 17.44 | 1.00 | 4.17 | -11.5 | 0.70 | 7.69 | -2.78 | 0.06 | 0.0 | -25.0 | 25.25 | 4.51 | 24.88 | 84.89 | -8.96 | -9.1 | 89.97 | -3.72 | 46.6 | 10.06 | 53.34 | -73.98 | 9.71 | -1.62 | 21.68 |
| 23Q3 (19) | 21.39 | -1.11 | 157.71 | 11.34 | -6.82 | 461.39 | 12.14 | -41.91 | 79.59 | 8.49 | -44.14 | 61.41 | 0.96 | -45.76 | 29.73 | 0.65 | -38.68 | 30.0 | 0.06 | 0.0 | -14.29 | 24.16 | -25.06 | 49.78 | 93.24 | -1.25 | -12.81 | 93.44 | 60.41 | 212.9 | 6.56 | -84.29 | -90.65 | 9.87 | 0.0 | 26.05 |
| 23Q2 (18) | 21.63 | 130.35 | 4059.62 | 12.17 | 1831.75 | 252.7 | 20.90 | 271.23 | 1308.09 | 15.20 | 297.91 | 506.42 | 1.77 | 321.43 | 531.71 | 1.06 | 194.44 | 1277.78 | 0.06 | 0.0 | 0.0 | 32.24 | 85.18 | 241.53 | 94.42 | 2.31 | -11.39 | 58.25 | 419.69 | -87.38 | 41.75 | -52.98 | 111.55 | 9.87 | 5.67 | 14.77 |
| 23Q1 (17) | 9.39 | -38.99 | 3.41 | 0.63 | -90.65 | -30.0 | 5.63 | -48.72 | 10.39 | 3.82 | -49.13 | 2.41 | 0.42 | -62.83 | 13.51 | 0.36 | -50.0 | 24.14 | 0.06 | -25.0 | 20.0 | 17.41 | -13.9 | 9.84 | 92.29 | -1.18 | 0.23 | 11.21 | -81.73 | -36.84 | 88.79 | 129.67 | 7.95 | 9.34 | 17.04 | -10.62 |
| 22Q4 (16) | 15.39 | 85.42 | -36.82 | 6.74 | 233.66 | -56.6 | 10.98 | 62.43 | -50.85 | 7.51 | 42.78 | -54.37 | 1.13 | 52.7 | -49.1 | 0.72 | 44.0 | -43.31 | 0.08 | 14.29 | 14.29 | 20.22 | 25.36 | -30.82 | 93.39 | -12.67 | -2.44 | 61.37 | 105.5 | -11.69 | 38.66 | -44.92 | 26.79 | 7.98 | 1.92 | -1.36 |
| 22Q3 (15) | 8.30 | 1496.15 | -56.88 | 2.02 | 125.35 | -85.91 | 6.76 | 490.75 | -61.26 | 5.26 | 240.64 | -66.62 | 0.74 | 280.49 | -54.88 | 0.50 | 655.56 | -50.98 | 0.07 | 16.67 | 0.0 | 16.13 | 70.87 | -38.74 | 106.94 | 0.36 | 30.91 | 29.86 | -93.53 | -63.66 | 70.19 | 119.41 | 293.91 | 7.83 | -8.95 | -8.74 |
| 22Q2 (14) | 0.52 | -94.27 | -98.31 | -7.97 | -985.56 | -131.66 | -1.73 | -133.92 | -104.94 | -3.74 | -200.27 | -112.65 | -0.41 | -210.81 | -112.06 | -0.09 | -131.03 | -104.35 | 0.06 | 20.0 | -14.29 | 9.44 | -40.44 | -77.67 | 106.56 | 15.73 | 56.2 | 461.61 | 2500.99 | 542.15 | -361.61 | -539.63 | -1386.17 | 8.60 | -17.7 | 22.51 |
| 22Q1 (13) | 9.08 | -62.73 | -63.78 | 0.90 | -94.2 | -95.29 | 5.10 | -77.17 | -76.85 | 3.73 | -77.34 | -77.97 | 0.37 | -83.33 | -77.98 | 0.29 | -77.17 | -72.38 | 0.05 | -28.57 | -16.67 | 15.85 | -45.77 | -50.76 | 92.08 | -3.81 | 26.34 | 17.75 | -74.46 | -79.52 | 82.25 | 169.75 | 517.21 | 10.45 | 29.17 | 24.11 |
| 21Q4 (12) | 24.36 | 26.55 | -24.58 | 15.53 | 8.3 | -41.35 | 22.34 | 28.02 | -21.45 | 16.46 | 4.44 | -27.43 | 2.22 | 35.37 | -35.09 | 1.27 | 24.51 | -36.18 | 0.07 | 0.0 | -12.5 | 29.23 | 11.01 | -18.28 | 95.73 | 17.19 | 22.75 | 69.49 | -15.44 | -25.35 | 30.49 | 71.13 | 341.48 | 8.09 | -5.71 | 34.16 |
| 21Q3 (11) | 19.25 | -37.42 | -45.62 | 14.34 | -43.03 | -52.78 | 17.45 | -50.16 | -51.28 | 15.76 | -46.68 | -45.26 | 1.64 | -51.76 | -61.41 | 1.02 | -50.72 | -56.6 | 0.07 | 0.0 | -12.5 | 26.33 | -37.71 | -39.42 | 81.69 | 19.74 | -1.32 | 82.18 | 14.33 | -3.06 | 17.82 | -36.63 | 17.01 | 8.58 | 22.22 | 36.84 |
| 21Q2 (10) | 30.76 | 22.7 | -13.86 | 25.17 | 31.85 | -17.77 | 35.01 | 58.92 | -1.3 | 29.56 | 74.6 | 4.16 | 3.40 | 102.38 | -20.56 | 2.07 | 97.14 | -15.16 | 0.07 | 16.67 | -12.5 | 42.27 | 31.31 | -1.72 | 68.22 | -6.39 | -28.72 | 71.88 | -17.06 | -16.7 | 28.12 | 110.97 | 105.14 | 7.02 | -16.63 | 21.66 |
| 21Q1 (9) | 25.07 | -22.38 | -4.68 | 19.09 | -27.91 | -5.96 | 22.03 | -22.54 | 2.27 | 16.93 | -25.35 | 6.88 | 1.68 | -50.88 | 0.6 | 1.05 | -47.24 | -1.87 | 0.06 | -25.0 | 0.0 | 32.19 | -10.01 | 0.22 | 72.88 | -6.55 | -0.52 | 86.67 | -6.9 | -8.0 | 13.33 | 92.95 | 130.25 | 8.42 | 39.64 | 0 |
| 20Q4 (8) | 32.30 | -8.76 | 9.6 | 26.48 | -12.81 | 0.68 | 28.44 | -20.6 | 14.17 | 22.68 | -21.22 | 21.94 | 3.42 | -19.53 | 6.21 | 1.99 | -15.32 | 3.65 | 0.08 | 0.0 | -20.0 | 35.77 | -17.69 | 13.12 | 77.99 | -5.79 | 2.24 | 93.09 | 9.82 | -11.81 | 6.91 | -54.64 | 224.18 | 6.03 | -3.83 | 0 |
| 20Q3 (7) | 35.40 | -0.87 | 12.31 | 30.37 | -0.78 | 15.39 | 35.82 | 0.99 | 23.82 | 28.79 | 1.44 | 26.05 | 4.25 | -0.7 | 19.72 | 2.35 | -3.69 | 14.63 | 0.08 | 0.0 | 0.0 | 43.46 | 1.05 | 16.95 | 82.78 | -13.51 | 2.63 | 84.77 | -1.76 | -6.83 | 15.23 | 11.11 | 68.96 | 6.27 | 8.67 | 43.15 |
| 20Q2 (6) | 35.71 | 35.78 | 20.15 | 30.61 | 50.79 | 23.98 | 35.47 | 64.67 | 19.19 | 28.38 | 79.17 | 16.65 | 4.28 | 156.29 | 14.44 | 2.44 | 128.04 | 11.42 | 0.08 | 33.33 | 0.0 | 43.01 | 33.9 | 15.46 | 95.71 | 30.64 | 8.5 | 86.29 | -8.4 | 4.02 | 13.71 | 136.79 | -19.53 | 5.77 | 0 | 3.04 |
| 20Q1 (5) | 26.30 | -10.76 | 2.77 | 20.30 | -22.81 | 2.27 | 21.54 | -13.53 | -2.53 | 15.84 | -14.84 | -5.04 | 1.67 | -48.14 | -19.71 | 1.07 | -44.27 | -18.32 | 0.06 | -40.0 | -14.29 | 32.12 | 1.58 | 3.18 | 73.26 | -3.96 | -0.91 | 94.21 | -10.75 | 4.88 | 5.79 | 204.06 | -43.21 | 0.00 | 0 | -100.0 |
| 19Q4 (4) | 29.47 | -6.5 | 0.0 | 26.30 | -0.08 | 0.0 | 24.91 | -13.9 | 0.0 | 18.60 | -18.56 | 0.0 | 3.22 | -9.3 | 0.0 | 1.92 | -6.34 | 0.0 | 0.10 | 25.0 | 0.0 | 31.62 | -14.91 | 0.0 | 76.28 | -5.43 | 0.0 | 105.56 | 16.02 | 0.0 | -5.56 | -161.71 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 31.52 | 6.06 | 0.0 | 26.32 | 6.6 | 0.0 | 28.93 | -2.79 | 0.0 | 22.84 | -6.12 | 0.0 | 3.55 | -5.08 | 0.0 | 2.05 | -6.39 | 0.0 | 0.08 | 0.0 | 0.0 | 37.16 | -0.24 | 0.0 | 80.66 | -8.56 | 0.0 | 90.99 | 9.68 | 0.0 | 9.01 | -47.09 | 0.0 | 4.38 | -21.79 | 0.0 |
| 19Q2 (2) | 29.72 | 16.14 | 0.0 | 24.69 | 24.38 | 0.0 | 29.76 | 34.66 | 0.0 | 24.33 | 45.86 | 0.0 | 3.74 | 79.81 | 0.0 | 2.19 | 67.18 | 0.0 | 0.08 | 14.29 | 0.0 | 37.25 | 19.66 | 0.0 | 88.21 | 19.32 | 0.0 | 82.96 | -7.65 | 0.0 | 17.03 | 67.13 | 0.0 | 5.60 | -19.54 | 0.0 |
| 19Q1 (1) | 25.59 | 0.0 | 0.0 | 19.85 | 0.0 | 0.0 | 22.10 | 0.0 | 0.0 | 16.68 | 0.0 | 0.0 | 2.08 | 0.0 | 0.0 | 1.31 | 0.0 | 0.0 | 0.07 | 0.0 | 0.0 | 31.13 | 0.0 | 0.0 | 73.93 | 0.0 | 0.0 | 89.83 | 0.0 | 0.0 | 10.19 | 0.0 | 0.0 | 6.96 | 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) | 18.78 | 111.01 | 9.18 | 800.0 | 7.56 | 15.28 | 13.13 | 125.21 | 9.15 | 150.68 | 4.07 | 127.37 | 2.76 | 93.01 | 0.24 | -4.0 | 24.87 | 57.01 | 84.89 | -9.1 | 69.86 | 299.57 | 30.14 | -63.48 | 6.34 | 4.56 | 9.70 | 13.05 |
| 2022 (9) | 8.90 | -64.26 | 1.02 | -94.48 | 6.56 | 6.35 | 5.83 | -76.07 | 3.65 | -81.57 | 1.79 | -80.26 | 1.43 | -72.34 | 0.25 | -3.85 | 15.84 | -51.29 | 93.39 | -2.44 | 17.48 | -76.96 | 82.52 | 242.0 | 6.06 | -3.17 | 8.58 | 7.25 |
| 2021 (8) | 24.90 | -24.25 | 18.48 | -32.55 | 6.17 | 3.08 | 24.36 | -21.19 | 19.81 | -19.08 | 9.07 | -30.76 | 5.17 | -33.89 | 0.26 | -13.33 | 32.52 | -16.62 | 95.73 | 22.75 | 75.87 | -14.42 | 24.13 | 112.66 | 6.26 | 24.64 | 8.00 | 25.39 |
| 2020 (7) | 32.87 | 12.38 | 27.40 | 11.56 | 5.98 | 6.35 | 30.91 | 16.29 | 24.48 | 18.09 | 13.10 | 4.47 | 7.82 | 2.22 | 0.30 | -14.29 | 39.00 | 13.54 | 77.99 | 2.24 | 88.65 | -4.07 | 11.35 | 49.47 | 5.02 | -6.1 | 6.38 | 13.32 |
| 2019 (6) | 29.25 | 8.49 | 24.56 | 8.58 | 5.63 | 14.37 | 26.58 | 8.4 | 20.73 | 14.09 | 12.54 | -3.09 | 7.65 | -4.14 | 0.35 | -12.5 | 34.35 | 8.29 | 76.28 | 2.62 | 92.41 | 0.16 | 7.59 | -1.93 | 5.35 | -9.9 | 5.63 | 2.93 |
| 2018 (5) | 26.96 | 40.12 | 22.62 | 59.3 | 4.92 | -20.46 | 24.52 | 74.4 | 18.17 | 73.05 | 12.94 | 88.08 | 7.98 | 80.54 | 0.40 | 11.11 | 31.72 | 40.42 | 74.33 | -5.37 | 92.26 | -8.65 | 7.74 | 0 | 5.94 | 0 | 5.47 | 5.19 |
| 2017 (4) | 19.24 | -4.18 | 14.20 | -2.41 | 6.19 | -15.91 | 14.06 | 9.33 | 10.50 | 6.38 | 6.88 | 17.81 | 4.42 | 18.5 | 0.36 | 12.5 | 22.59 | -0.92 | 78.55 | -3.19 | 101.00 | -10.77 | -1.00 | 0 | 0.00 | 0 | 5.20 | -11.11 |
| 2016 (3) | 20.08 | 29.46 | 14.55 | 40.85 | 7.36 | -1.87 | 12.86 | 39.03 | 9.87 | 33.56 | 5.84 | 33.94 | 3.73 | 28.62 | 0.32 | 0.0 | 22.80 | 18.94 | 81.14 | -8.31 | 113.19 | 1.4 | -13.19 | 0 | 0.00 | 0 | 5.85 | 4.65 |
| 2015 (2) | 15.51 | -26.21 | 10.33 | -38.44 | 7.50 | 40.1 | 9.25 | -48.38 | 7.39 | -47.29 | 4.36 | -58.52 | 2.90 | -54.04 | 0.32 | -21.95 | 19.17 | -23.84 | 88.49 | 9.67 | 111.63 | 19.17 | -11.63 | 0 | 0.00 | 0 | 5.59 | 22.86 |
| 2014 (1) | 21.02 | 0 | 16.78 | 0 | 5.35 | -9.17 | 17.92 | 0 | 14.02 | 0 | 10.51 | 0 | 6.31 | 0 | 0.41 | -2.38 | 25.17 | 5.53 | 80.69 | -3.95 | 93.67 | -1.96 | 6.33 | 42.13 | 0.00 | 0 | 4.55 | -0.44 |
