- 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) | 14.27 | 1.42 | 42.56 | 5.38 | -17.23 | 78.74 | 4.84 | -26.89 | 77.29 | 3.83 | -29.21 | 47.88 | 3.40 | -32.41 | 24.54 | 1.88 | -28.79 | 26.17 | 0.43 | -4.44 | -12.24 | 7.88 | -9.53 | 54.81 | 103.75 | -1.99 | -10.36 | 111.02 | 13.07 | 0.85 | -11.02 | -708.44 | -9.29 | 5.99 | -9.52 | 8.91 |
| 23Q3 (19) | 14.07 | 3.53 | 44.6 | 6.50 | 12.46 | 162.1 | 6.62 | 9.97 | 109.49 | 5.41 | 15.11 | 116.4 | 5.03 | 15.37 | 89.81 | 2.64 | 14.78 | 87.23 | 0.45 | 0.0 | -8.16 | 8.71 | -3.97 | 60.41 | 105.86 | -2.71 | -7.28 | 98.19 | 2.31 | 24.97 | 1.81 | -54.36 | -91.55 | 6.62 | 1.38 | 19.06 |
| 23Q2 (18) | 13.59 | 14.49 | 31.81 | 5.78 | 46.33 | 108.66 | 6.02 | 52.41 | 101.34 | 4.70 | 42.42 | 88.0 | 4.36 | 43.42 | 79.42 | 2.30 | 36.9 | 85.48 | 0.45 | 2.27 | 0.0 | 9.07 | 35.98 | 73.09 | 108.81 | 6.3 | -10.81 | 95.97 | -4.21 | 3.65 | 3.97 | 2219.3 | -46.42 | 6.53 | 3.98 | 11.24 |
| 23Q1 (17) | 11.87 | 18.58 | 17.64 | 3.95 | 31.23 | 56.75 | 3.95 | 44.69 | 21.54 | 3.30 | 27.41 | 33.6 | 3.04 | 11.36 | 33.33 | 1.68 | 12.75 | 43.59 | 0.44 | -10.2 | 0.0 | 6.67 | 31.04 | 19.53 | 102.36 | -11.56 | -10.79 | 100.19 | -8.99 | 29.48 | -0.19 | 98.14 | -100.83 | 6.28 | 14.18 | 1.62 |
| 22Q4 (16) | 10.01 | 2.88 | -3.47 | 3.01 | 21.37 | 8.27 | 2.73 | -13.61 | -4.55 | 2.59 | 3.6 | 13.6 | 2.73 | 3.02 | 28.17 | 1.49 | 5.67 | 29.57 | 0.49 | 0.0 | 6.52 | 5.09 | -6.26 | -0.78 | 115.74 | 1.38 | 10.73 | 110.08 | 40.11 | 13.33 | -10.08 | -147.06 | -452.46 | 5.50 | -1.08 | -14.33 |
| 22Q3 (15) | 9.73 | -5.63 | 2.31 | 2.48 | -10.47 | 104.96 | 3.16 | 5.69 | 69.89 | 2.50 | 0.0 | 78.57 | 2.65 | 9.05 | 96.3 | 1.41 | 13.71 | 78.48 | 0.49 | 8.89 | 2.08 | 5.43 | 3.63 | 33.42 | 114.17 | -6.42 | 15.79 | 78.57 | -15.14 | 20.98 | 21.43 | 189.29 | -38.87 | 5.56 | -5.28 | -8.55 |
| 22Q2 (14) | 10.31 | 2.18 | 13.17 | 2.77 | 9.92 | 68.9 | 2.99 | -8.0 | 54.12 | 2.50 | 1.21 | 74.83 | 2.43 | 6.58 | 66.44 | 1.24 | 5.98 | 51.22 | 0.45 | 2.27 | -10.0 | 5.24 | -6.09 | 35.4 | 122.00 | 6.33 | 17.35 | 92.59 | 19.66 | 9.41 | 7.41 | -67.08 | -51.81 | 5.87 | -5.02 | -3.45 |
| 22Q1 (13) | 10.09 | -2.7 | -27.04 | 2.52 | -9.35 | -34.55 | 3.25 | 13.64 | -35.52 | 2.47 | 8.33 | -39.46 | 2.28 | 7.04 | -32.94 | 1.17 | 1.74 | -36.41 | 0.44 | -4.35 | 2.33 | 5.58 | 8.77 | -24.8 | 114.74 | 9.78 | 9.45 | 77.38 | -20.34 | 1.25 | 22.50 | 686.53 | -4.9 | 6.18 | -3.74 | -1.28 |
| 21Q4 (12) | 10.37 | 9.04 | -25.07 | 2.78 | 129.75 | -31.7 | 2.86 | 53.76 | -46.84 | 2.28 | 62.86 | -49.67 | 2.13 | 57.78 | -45.66 | 1.15 | 45.57 | -46.26 | 0.46 | -4.17 | 2.22 | 5.13 | 26.04 | -34.23 | 104.52 | 6.0 | 22.43 | 97.14 | 49.56 | 28.5 | 2.86 | -91.84 | -88.24 | 6.42 | 5.59 | 9.0 |
| 21Q3 (11) | 9.51 | 4.39 | -42.29 | 1.21 | -26.22 | -81.36 | 1.86 | -4.12 | -76.75 | 1.40 | -2.1 | -77.92 | 1.35 | -7.53 | -73.94 | 0.79 | -3.66 | -70.63 | 0.48 | -4.0 | 17.07 | 4.07 | 5.17 | -61.2 | 98.60 | -5.16 | 2.56 | 64.95 | -23.26 | -20.03 | 35.05 | 128.05 | 86.6 | 6.08 | 0.0 | -10.72 |
| 21Q2 (10) | 9.11 | -34.13 | -39.67 | 1.64 | -57.4 | -71.13 | 1.94 | -61.51 | -67.99 | 1.43 | -64.95 | -71.29 | 1.46 | -57.06 | -63.77 | 0.82 | -55.43 | -60.77 | 0.50 | 16.28 | 28.21 | 3.87 | -47.84 | -56.22 | 103.96 | -0.83 | 2.58 | 84.63 | 10.74 | -9.69 | 15.37 | -35.05 | 144.24 | 6.08 | -2.88 | 0 |
| 21Q1 (9) | 13.83 | -0.07 | -6.43 | 3.85 | -5.41 | -14.44 | 5.04 | -6.32 | 2.02 | 4.08 | -9.93 | 0.99 | 3.40 | -13.27 | 7.94 | 1.84 | -14.02 | 7.6 | 0.43 | -4.44 | 13.16 | 7.42 | -4.87 | -6.67 | 104.83 | 22.79 | -5.88 | 76.42 | 1.1 | -16.16 | 23.66 | -2.72 | 167.69 | 6.26 | 6.28 | -12.45 |
| 20Q4 (8) | 13.84 | -16.02 | -5.14 | 4.07 | -37.29 | -22.77 | 5.38 | -32.75 | 7.17 | 4.53 | -28.55 | 21.12 | 3.92 | -24.32 | 19.88 | 2.14 | -20.45 | 17.58 | 0.45 | 9.76 | 2.27 | 7.80 | -25.64 | -3.58 | 85.37 | -11.2 | -9.62 | 75.60 | -6.92 | -27.89 | 24.32 | 29.5 | 593.5 | 5.89 | -13.51 | 0 |
| 20Q3 (7) | 16.48 | 9.14 | 1.29 | 6.49 | 14.26 | 15.07 | 8.00 | 32.01 | 32.01 | 6.34 | 27.31 | 27.57 | 5.18 | 28.54 | 25.42 | 2.69 | 28.71 | 18.5 | 0.41 | 5.13 | -2.38 | 10.49 | 18.67 | 16.17 | 96.14 | -5.14 | -3.82 | 81.22 | -13.33 | -12.68 | 18.78 | 198.48 | 168.86 | 6.81 | 0 | -22.88 |
| 20Q2 (6) | 15.10 | 2.17 | 1.55 | 5.68 | 26.22 | 28.8 | 6.06 | 22.67 | 25.73 | 4.98 | 23.27 | 32.45 | 4.03 | 27.94 | 32.57 | 2.09 | 22.22 | 20.11 | 0.39 | 2.63 | -7.14 | 8.84 | 11.19 | 13.77 | 101.35 | -9.01 | 3.05 | 93.71 | 2.79 | 2.56 | 6.29 | -28.81 | -27.11 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 14.78 | 1.3 | 1.23 | 4.50 | -14.61 | 21.29 | 4.94 | -1.59 | 29.32 | 4.04 | 8.02 | 46.91 | 3.15 | -3.67 | 44.5 | 1.71 | -6.04 | 28.57 | 0.38 | -13.64 | -9.52 | 7.95 | -1.73 | 13.9 | 111.38 | 17.91 | 23.76 | 91.16 | -13.04 | -6.0 | 8.84 | 279.35 | 192.55 | 7.15 | 0 | -2.32 |
| 19Q4 (4) | 14.59 | -10.33 | 0.0 | 5.27 | -6.56 | 0.0 | 5.02 | -17.16 | 0.0 | 3.74 | -24.75 | 0.0 | 3.27 | -20.82 | 0.0 | 1.82 | -19.82 | 0.0 | 0.44 | 4.76 | 0.0 | 8.09 | -10.41 | 0.0 | 94.46 | -5.5 | 0.0 | 104.83 | 12.71 | 0.0 | -4.93 | -170.55 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 16.27 | 9.41 | 0.0 | 5.64 | 27.89 | 0.0 | 6.06 | 25.73 | 0.0 | 4.97 | 32.18 | 0.0 | 4.13 | 35.86 | 0.0 | 2.27 | 30.46 | 0.0 | 0.42 | 0.0 | 0.0 | 9.03 | 16.22 | 0.0 | 99.96 | 1.64 | 0.0 | 93.01 | 1.8 | 0.0 | 6.99 | -19.08 | 0.0 | 8.83 | 35.64 | 0.0 |
| 19Q2 (2) | 14.87 | 1.85 | 0.0 | 4.41 | 18.87 | 0.0 | 4.82 | 26.18 | 0.0 | 3.76 | 36.73 | 0.0 | 3.04 | 39.45 | 0.0 | 1.74 | 30.83 | 0.0 | 0.42 | 0.0 | 0.0 | 7.77 | 11.32 | 0.0 | 98.35 | 9.28 | 0.0 | 91.37 | -5.79 | 0.0 | 8.63 | 185.74 | 0.0 | 6.51 | -11.07 | 0.0 |
| 19Q1 (1) | 14.60 | 0.0 | 0.0 | 3.71 | 0.0 | 0.0 | 3.82 | 0.0 | 0.0 | 2.75 | 0.0 | 0.0 | 2.18 | 0.0 | 0.0 | 1.33 | 0.0 | 0.0 | 0.42 | 0.0 | 0.0 | 6.98 | 0.0 | 0.0 | 90.00 | 0.0 | 0.0 | 96.98 | 0.0 | 0.0 | 3.02 | 0.0 | 0.0 | 7.32 | 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) | 13.46 | 34.2 | 5.42 | 100.74 | 2.26 | 21.59 | 5.37 | 77.81 | 4.32 | 71.43 | 15.82 | 57.26 | 8.38 | 54.33 | 1.75 | -7.89 | 8.09 | 51.78 | 103.75 | -10.36 | 100.85 | 12.99 | -0.87 | 0 | 0.24 | 0.01 | 6.35 | 10.24 |
| 2022 (9) | 10.03 | -5.2 | 2.70 | 16.88 | 1.86 | -0.12 | 3.02 | 5.96 | 2.52 | 13.0 | 10.06 | 23.74 | 5.43 | 18.3 | 1.90 | 1.6 | 5.33 | 5.96 | 115.74 | 10.73 | 89.26 | 9.89 | 10.74 | -42.68 | 0.24 | -13.61 | 5.76 | -7.1 |
| 2021 (8) | 10.58 | -29.56 | 2.31 | -55.23 | 1.86 | -17.76 | 2.85 | -53.28 | 2.23 | -55.31 | 8.13 | -47.88 | 4.59 | -47.12 | 1.87 | 13.33 | 5.03 | -42.58 | 104.52 | 22.43 | 81.23 | -3.91 | 18.74 | 20.96 | 0.28 | -10.02 | 6.20 | -5.49 |
| 2020 (7) | 15.02 | -0.4 | 5.16 | 7.95 | 2.26 | -8.14 | 6.10 | 23.23 | 4.99 | 30.63 | 15.60 | 22.07 | 8.68 | 18.1 | 1.65 | -4.62 | 8.76 | 9.64 | 85.37 | -9.62 | 84.53 | -12.47 | 15.49 | 355.67 | 0.31 | -9.63 | 6.56 | -12.53 |
| 2019 (6) | 15.08 | 8.26 | 4.78 | 52.23 | 2.46 | 23.11 | 4.95 | 18.42 | 3.82 | 14.71 | 12.78 | 16.39 | 7.35 | 15.02 | 1.73 | -0.57 | 7.99 | 20.33 | 94.46 | 3.39 | 96.57 | 28.78 | 3.40 | -86.42 | 0.34 | -11.19 | 7.50 | -0.53 |
| 2018 (5) | 13.93 | 3.34 | 3.14 | -20.91 | 2.00 | 14.11 | 4.18 | -5.0 | 3.33 | -4.58 | 10.98 | -13.27 | 6.39 | -12.82 | 1.74 | -9.84 | 6.64 | 1.22 | 91.36 | 4.32 | 74.99 | -16.87 | 25.04 | 155.77 | 0.39 | 12.25 | 7.54 | 13.21 |
| 2017 (4) | 13.48 | 2.9 | 3.97 | 9.67 | 1.75 | -1.36 | 4.40 | 6.28 | 3.49 | 3.25 | 12.66 | -2.54 | 7.33 | 0.83 | 1.93 | -1.03 | 6.56 | 2.66 | 87.58 | -0.02 | 90.21 | 3.26 | 9.79 | -22.54 | 0.34 | 0 | 6.66 | 2.78 |
| 2016 (3) | 13.10 | 21.97 | 3.62 | 83.76 | 1.78 | -2.2 | 4.14 | 233.87 | 3.38 | 445.16 | 12.99 | 423.79 | 7.27 | 343.29 | 1.95 | 1.56 | 6.39 | 87.39 | 87.60 | -18.85 | 87.36 | -45.1 | 12.64 | 0 | 0.00 | 0 | 6.48 | 19.56 |
| 2015 (2) | 10.74 | 23.17 | 1.97 | 57.6 | 1.82 | 41.04 | 1.24 | -23.93 | 0.62 | -43.12 | 2.48 | -51.94 | 1.64 | -45.15 | 1.92 | -16.52 | 3.41 | 5.9 | 107.95 | 0.37 | 159.13 | 106.64 | -59.13 | 0 | 0.00 | 0 | 5.42 | 14.83 |
| 2014 (1) | 8.72 | 0 | 1.25 | 0 | 1.29 | -3.9 | 1.63 | 0 | 1.09 | 0 | 5.16 | 0 | 2.99 | 0 | 2.30 | -6.88 | 3.22 | -28.29 | 107.55 | 2.73 | 77.01 | 137.72 | 22.99 | -65.99 | 0.00 | 0 | 4.72 | 3.28 |
