- 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) | 12.62 | -30.47 | -62.61 | 7.45 | -43.73 | -71.66 | 6.52 | -62.22 | -74.74 | 4.17 | -71.98 | -81.85 | 1.16 | -69.95 | -80.03 | 0.71 | -65.37 | -76.64 | 0.14 | 7.69 | 7.69 | 10.68 | -50.85 | -65.0 | 96.61 | 0.72 | -0.35 | 114.13 | 48.57 | 12.32 | -14.13 | -160.95 | -632.43 | 7.53 | -14.33 | -28.01 |
| 23Q3 (19) | 18.15 | -12.06 | -12.28 | 13.24 | -9.5 | -4.27 | 17.26 | 18.87 | 14.23 | 14.88 | 29.73 | 18.94 | 3.86 | 21.38 | 32.19 | 2.05 | 22.02 | 28.93 | 0.13 | -7.14 | 8.33 | 21.73 | 15.34 | 6.94 | 95.92 | -6.04 | -4.38 | 76.82 | -23.58 | -15.87 | 23.18 | 2325.45 | 166.59 | 8.79 | 6.93 | -16.76 |
| 23Q2 (18) | 20.64 | 11.99 | -7.4 | 14.63 | 10.0 | -9.8 | 14.52 | 1.61 | -0.68 | 11.47 | -1.46 | -1.63 | 3.18 | 20.0 | 21.84 | 1.68 | 16.67 | 14.29 | 0.14 | 27.27 | 16.67 | 18.84 | -4.22 | -4.17 | 102.09 | -3.58 | 7.79 | 100.52 | 8.15 | -8.79 | -1.04 | -114.77 | 90.43 | 8.22 | -13.38 | -20.89 |
| 23Q1 (17) | 18.43 | -45.39 | 14.83 | 13.30 | -49.41 | 36.83 | 14.29 | -44.63 | 79.07 | 11.64 | -49.35 | 86.84 | 2.65 | -54.39 | 119.01 | 1.44 | -52.63 | 87.01 | 0.11 | -15.38 | 0.0 | 19.67 | -35.53 | 43.26 | 105.88 | 9.21 | 29.45 | 92.95 | -8.52 | -24.34 | 7.05 | 465.49 | 132.91 | 9.49 | -9.27 | 1.93 |
| 22Q4 (16) | 33.75 | 63.12 | 67.58 | 26.29 | 90.09 | 104.43 | 25.81 | 70.81 | 84.36 | 22.98 | 83.69 | 112.97 | 5.81 | 98.97 | 186.21 | 3.04 | 91.19 | 141.27 | 0.13 | 8.33 | 18.18 | 30.51 | 50.15 | 55.03 | 96.95 | -3.35 | 32.63 | 101.61 | 11.28 | 10.76 | -1.93 | -122.19 | -123.34 | 10.46 | -0.95 | -6.36 |
| 22Q3 (15) | 20.69 | -7.18 | 70.57 | 13.83 | -14.73 | 135.6 | 15.11 | 3.35 | 172.74 | 12.51 | 7.29 | 196.45 | 2.92 | 11.88 | 279.22 | 1.59 | 8.16 | 205.77 | 0.12 | 0.0 | 20.0 | 20.32 | 3.36 | 75.93 | 100.31 | 5.91 | 37.54 | 91.30 | -17.15 | -14.29 | 8.70 | 179.89 | 233.33 | 10.56 | 1.64 | 3.94 |
| 22Q2 (14) | 22.29 | 38.88 | 57.3 | 16.22 | 66.87 | 64.17 | 14.62 | 83.21 | 45.91 | 11.66 | 87.16 | 50.65 | 2.61 | 115.7 | 46.63 | 1.47 | 90.91 | 37.38 | 0.12 | 9.09 | -7.69 | 19.66 | 43.19 | 32.12 | 94.71 | 15.8 | 22.38 | 110.20 | -10.3 | 11.28 | -10.88 | 49.21 | -1221.09 | 10.39 | 11.6 | 5.16 |
| 22Q1 (13) | 16.05 | -20.31 | 20.31 | 9.72 | -24.42 | 32.07 | 7.98 | -43.0 | 17.18 | 6.23 | -42.26 | 19.81 | 1.21 | -40.39 | 0.83 | 0.77 | -38.89 | 1.32 | 0.11 | 0.0 | -15.38 | 13.73 | -30.23 | 16.75 | 81.79 | 11.89 | 2.05 | 122.86 | 33.93 | 13.28 | -21.43 | -359.29 | -153.57 | 9.31 | -16.65 | -0.75 |
| 21Q4 (12) | 20.14 | 66.03 | 62.03 | 12.86 | 119.08 | 125.61 | 14.00 | 152.71 | 107.1 | 10.79 | 155.69 | 93.72 | 2.03 | 163.64 | 43.97 | 1.26 | 142.31 | 40.0 | 0.11 | 10.0 | -26.67 | 19.68 | 70.39 | 65.94 | 73.10 | 0.23 | 1.01 | 91.74 | -13.88 | 8.17 | 8.26 | 226.72 | -45.59 | 11.17 | 9.94 | 16.96 |
| 21Q3 (11) | 12.13 | -14.4 | -22.79 | 5.87 | -40.59 | -45.6 | 5.54 | -44.71 | -47.24 | 4.22 | -45.48 | -51.55 | 0.77 | -56.74 | -64.68 | 0.52 | -51.4 | -61.48 | 0.10 | -23.08 | -33.33 | 11.55 | -22.38 | -24.85 | 72.93 | -5.76 | 1.42 | 106.52 | 7.57 | 3.9 | -6.52 | -771.74 | -158.7 | 10.16 | 2.83 | 10.55 |
| 21Q2 (10) | 14.17 | 6.22 | -24.43 | 9.88 | 34.24 | -25.32 | 10.02 | 47.14 | -20.85 | 7.74 | 48.85 | -35.61 | 1.78 | 48.33 | -41.64 | 1.07 | 40.79 | -42.78 | 0.13 | 0.0 | -13.33 | 14.88 | 26.53 | -16.92 | 77.39 | -3.44 | 12.71 | 99.03 | -8.69 | -4.99 | 0.97 | 111.49 | 122.98 | 9.88 | 5.33 | 0 |
| 21Q1 (9) | 13.34 | 7.32 | -19.4 | 7.36 | 29.12 | -26.18 | 6.81 | 0.74 | -27.86 | 5.20 | -6.64 | -38.61 | 1.20 | -14.89 | -44.44 | 0.76 | -15.56 | -44.12 | 0.13 | -13.33 | -13.33 | 11.76 | -0.84 | -23.09 | 80.15 | 10.75 | 10.2 | 108.45 | 27.87 | 2.54 | -8.45 | -155.63 | -46.48 | 9.38 | -1.78 | 0 |
| 20Q4 (8) | 12.43 | -20.88 | 18.16 | 5.70 | -47.17 | 6.15 | 6.76 | -35.62 | 52.25 | 5.57 | -36.05 | 27.46 | 1.41 | -35.32 | 29.36 | 0.90 | -33.33 | 21.62 | 0.15 | 0.0 | 0.0 | 11.86 | -22.84 | 13.49 | 72.37 | 0.64 | 3.96 | 84.81 | -17.28 | -29.81 | 15.19 | 702.53 | 172.91 | 9.55 | 3.92 | -3.92 |
| 20Q3 (7) | 15.71 | -16.21 | 62.46 | 10.79 | -18.44 | 210.95 | 10.50 | -17.06 | 224.07 | 8.71 | -27.54 | 447.8 | 2.18 | -28.52 | 522.86 | 1.35 | -27.81 | 350.0 | 0.15 | 0.0 | 25.0 | 15.37 | -14.18 | 49.66 | 71.91 | 4.73 | -1.99 | 102.52 | -1.64 | -3.89 | -2.52 | 40.34 | 62.18 | 9.19 | 0 | -8.37 |
| 20Q2 (6) | 18.75 | 13.29 | 141.0 | 13.23 | 32.7 | 716.67 | 12.66 | 34.11 | 904.76 | 12.02 | 41.91 | 665.61 | 3.05 | 41.2 | 797.06 | 1.87 | 37.5 | 523.33 | 0.15 | 0.0 | 25.0 | 17.91 | 17.14 | 79.28 | 68.66 | -5.6 | -8.56 | 104.23 | -1.46 | -23.57 | -4.23 | 26.76 | 84.51 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 16.55 | 57.32 | 417.19 | 9.97 | 85.66 | 415.51 | 9.44 | 112.61 | 324.76 | 8.47 | 93.82 | 337.25 | 2.16 | 98.17 | 404.23 | 1.36 | 83.78 | 568.97 | 0.15 | 0.0 | 36.36 | 15.29 | 46.32 | 171.1 | 72.73 | 4.48 | -6.95 | 105.77 | -12.47 | 42.38 | -5.77 | 72.31 | -122.44 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 10.52 | 8.79 | 0.0 | 5.37 | 54.76 | 0.0 | 4.44 | 37.04 | 0.0 | 4.37 | 174.84 | 0.0 | 1.09 | 211.43 | 0.0 | 0.74 | 146.67 | 0.0 | 0.15 | 25.0 | 0.0 | 10.45 | 1.75 | 0.0 | 69.61 | -5.12 | 0.0 | 120.83 | 13.28 | 0.0 | -20.83 | -212.5 | 0.0 | 9.94 | -0.9 | 0.0 |
| 19Q3 (3) | 9.67 | 24.29 | 0.0 | 3.47 | 114.2 | 0.0 | 3.24 | 157.14 | 0.0 | 1.59 | 1.27 | 0.0 | 0.35 | 2.94 | 0.0 | 0.30 | 0.0 | 0.0 | 0.12 | 0.0 | 0.0 | 10.27 | 2.8 | 0.0 | 73.37 | -2.29 | 0.0 | 106.67 | -21.78 | 0.0 | -6.67 | 75.56 | 0.0 | 10.03 | -3.56 | 0.0 |
| 19Q2 (2) | 7.78 | 143.12 | 0.0 | 1.62 | 151.27 | 0.0 | 1.26 | 130.0 | 0.0 | 1.57 | 143.98 | 0.0 | 0.34 | 147.89 | 0.0 | 0.30 | 203.45 | 0.0 | 0.12 | 9.09 | 0.0 | 9.99 | 77.13 | 0.0 | 75.09 | -3.93 | 0.0 | 136.36 | 83.57 | 0.0 | -27.27 | -206.06 | 0.0 | 10.40 | -3.08 | 0.0 |
| 19Q1 (1) | 3.20 | 0.0 | 0.0 | -3.16 | 0.0 | 0.0 | -4.20 | 0.0 | 0.0 | -3.57 | 0.0 | 0.0 | -0.71 | 0.0 | 0.0 | -0.29 | 0.0 | 0.0 | 0.11 | 0.0 | 0.0 | 5.64 | 0.0 | 0.0 | 78.16 | 0.0 | 0.0 | 74.29 | 0.0 | 0.0 | 25.71 | 0.0 | 0.0 | 10.73 | 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) | 17.33 | -27.43 | 12.02 | -29.91 | 3.10 | -15.35 | 12.95 | -21.89 | 10.35 | -26.12 | 10.57 | -13.15 | 5.84 | -16.09 | 0.52 | 10.64 | 17.49 | -19.48 | 96.61 | -0.35 | 92.73 | -10.27 | 7.12 | 0 | 0.00 | 0 | 8.45 | -17.4 |
| 2022 (9) | 23.88 | 60.7 | 17.15 | 90.98 | 3.66 | -9.16 | 16.58 | 83.0 | 14.01 | 101.29 | 12.17 | 115.78 | 6.96 | 94.41 | 0.47 | 0.0 | 21.72 | 51.36 | 96.95 | 32.63 | 103.34 | 3.95 | -3.34 | 0 | 0.00 | 0 | 10.23 | 1.29 |
| 2021 (8) | 14.86 | -6.07 | 8.98 | -9.11 | 4.03 | -5.83 | 9.06 | -7.65 | 6.96 | -19.63 | 5.64 | -35.47 | 3.58 | -34.19 | 0.47 | -20.34 | 14.35 | -4.84 | 73.10 | 1.01 | 99.41 | -1.25 | 0.88 | 0 | 0.00 | 0 | 10.10 | 6.43 |
| 2020 (7) | 15.82 | 97.5 | 9.88 | 372.73 | 4.28 | -33.13 | 9.81 | 581.25 | 8.66 | 604.07 | 8.74 | 716.82 | 5.44 | 413.21 | 0.59 | 15.69 | 15.08 | 63.56 | 72.37 | 3.96 | 100.68 | -30.3 | -0.68 | 0 | 0.00 | 0 | 9.49 | -7.41 |
| 2019 (6) | 8.01 | 472.14 | 2.09 | 0 | 6.40 | -10.74 | 1.44 | 0 | 1.23 | 0 | 1.07 | 0 | 1.06 | 0 | 0.51 | 10.87 | 9.22 | 245.32 | 69.61 | -4.05 | 144.44 | 78.92 | -44.44 | 0 | 0.00 | 0 | 10.25 | -10.4 |
| 2018 (5) | 1.40 | -62.57 | -4.66 | 0 | 7.18 | -8.41 | -5.75 | 0 | -6.05 | 0 | -4.64 | 0 | -2.41 | 0 | 0.46 | 0.0 | 2.67 | -51.72 | 72.55 | 14.41 | 80.73 | -3.93 | 19.27 | 20.7 | 0.00 | 0 | 11.44 | 2.23 |
| 2017 (4) | 3.74 | -75.99 | -2.92 | 0 | 7.83 | 13.65 | -3.47 | 0 | -3.00 | 0 | -2.22 | 0 | -1.02 | 0 | 0.46 | -14.81 | 5.53 | -68.02 | 63.41 | 3.19 | 84.03 | -20.9 | 15.97 | 0 | 0.00 | 0 | 11.19 | 5.37 |
| 2016 (3) | 15.58 | -13.68 | 10.03 | -19.31 | 6.89 | 0.9 | 9.44 | -23.06 | 7.41 | -19.63 | 6.72 | -36.84 | 4.49 | -32.38 | 0.54 | -12.9 | 17.29 | -15.53 | 61.45 | -1.06 | 106.23 | 4.87 | -6.23 | 0 | 0.00 | 0 | 10.62 | 9.15 |
| 2015 (2) | 18.05 | 24.05 | 12.43 | 32.94 | 6.83 | 6.04 | 12.27 | 31.65 | 9.22 | 27.52 | 10.64 | 19.28 | 6.64 | 25.28 | 0.62 | 3.33 | 20.47 | 13.66 | 62.11 | -23.53 | 101.30 | 1.08 | -1.30 | 0 | 0.00 | 0 | 9.73 | 15.7 |
| 2014 (1) | 14.55 | 0 | 9.35 | 0 | 6.44 | -8.27 | 9.32 | 0 | 7.23 | 0 | 8.92 | 0 | 5.30 | 0 | 0.60 | 7.14 | 18.01 | 30.7 | 81.22 | -14.43 | 100.21 | -21.61 | -0.21 | 0 | 0.00 | 0 | 8.41 | -5.61 |
