- 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) | 9.72 | -2.9 | 47.72 | 1.84 | -38.46 | 1214.29 | 2.32 | -26.58 | 373.47 | 1.91 | -22.98 | 536.67 | 1.65 | -26.67 | 450.0 | 0.91 | -22.22 | 237.04 | 0.39 | -4.88 | -7.14 | 4.78 | -13.87 | 83.85 | 121.37 | 3.53 | -7.88 | 79.12 | -16.34 | 176.92 | 20.88 | 284.77 | -70.77 | 4.49 | 0.67 | 9.78 |
| 23Q3 (19) | 10.01 | 23.28 | 95.51 | 2.99 | 50.25 | 299.33 | 3.16 | 35.62 | 392.59 | 2.48 | 10.22 | 398.8 | 2.25 | 9.76 | 388.46 | 1.17 | 5.41 | 631.82 | 0.41 | -2.38 | 2.5 | 5.55 | 16.35 | 438.83 | 117.23 | -4.85 | -12.9 | 94.57 | 10.92 | -31.36 | 5.43 | -63.18 | 114.36 | 4.46 | 7.47 | 25.99 |
| 23Q2 (18) | 8.12 | -7.73 | -18.47 | 1.99 | 2.58 | -38.01 | 2.33 | 30.17 | -37.03 | 2.25 | 50.0 | -28.12 | 2.05 | 44.37 | -30.03 | 1.11 | 35.37 | -25.5 | 0.42 | -2.33 | -4.55 | 4.77 | 14.94 | -15.87 | 123.20 | 11.09 | -5.56 | 85.26 | -20.98 | -1.67 | 14.74 | 286.67 | 10.88 | 4.15 | 2.47 | -3.49 |
| 23Q1 (17) | 8.80 | 33.74 | -30.05 | 1.94 | 1285.71 | -64.21 | 1.79 | 265.31 | -68.82 | 1.50 | 400.0 | -67.25 | 1.42 | 373.33 | -66.43 | 0.82 | 203.7 | -62.56 | 0.43 | 2.38 | -6.52 | 4.15 | 59.62 | -45.39 | 110.90 | -15.83 | 15.36 | 107.89 | 277.63 | 14.02 | -7.89 | -111.05 | -246.96 | 4.05 | -0.98 | -9.8 |
| 22Q4 (16) | 6.58 | 28.52 | -19.36 | 0.14 | 109.33 | -90.07 | 0.49 | 145.37 | -67.33 | 0.30 | 136.14 | -78.26 | 0.30 | 138.46 | -76.0 | 0.27 | 222.73 | -61.43 | 0.42 | 5.0 | -4.55 | 2.60 | 152.43 | -24.2 | 131.75 | -2.11 | 26.06 | 28.57 | -79.26 | -69.92 | 71.43 | 289.08 | 971.43 | 4.09 | 15.54 | 1.49 |
| 22Q3 (15) | 5.12 | -48.59 | -15.23 | -1.50 | -146.73 | -44.23 | -1.08 | -129.19 | -13.68 | -0.83 | -126.52 | 20.95 | -0.78 | -126.62 | 4.88 | -0.22 | -114.77 | 31.25 | 0.40 | -9.09 | 2.56 | 1.03 | -81.83 | -17.6 | 134.59 | 3.17 | 29.84 | 137.78 | 58.9 | 26.61 | -37.78 | -384.23 | -328.15 | 3.54 | -17.67 | -19.73 |
| 22Q2 (14) | 9.96 | -20.83 | 13.44 | 3.21 | -40.77 | 141.35 | 3.70 | -35.54 | 115.12 | 3.13 | -31.66 | 203.88 | 2.93 | -30.73 | 290.67 | 1.49 | -31.96 | 210.42 | 0.44 | -4.35 | 15.79 | 5.67 | -25.39 | 34.68 | 130.45 | 35.7 | 32.88 | 86.71 | -8.37 | 11.21 | 13.29 | 147.42 | -39.68 | 4.30 | -4.23 | -8.32 |
| 22Q1 (13) | 12.58 | 54.17 | -8.77 | 5.42 | 284.4 | -15.05 | 5.74 | 282.67 | -20.39 | 4.58 | 231.88 | -25.29 | 4.23 | 238.4 | -14.72 | 2.19 | 212.86 | -19.78 | 0.46 | 4.55 | 6.98 | 7.60 | 121.57 | -18.02 | 96.13 | -8.02 | 16.41 | 94.63 | -0.39 | 7.01 | 5.37 | -19.42 | -53.56 | 4.49 | 11.41 | -11.09 |
| 21Q4 (12) | 8.16 | 35.1 | -29.66 | 1.41 | 235.58 | -60.28 | 1.50 | 257.89 | -67.53 | 1.38 | 231.43 | -63.2 | 1.25 | 252.44 | -56.6 | 0.70 | 318.75 | -55.13 | 0.44 | 12.82 | 12.82 | 3.43 | 174.4 | -50.29 | 104.51 | 0.82 | 13.08 | 95.00 | -12.7 | 23.74 | 6.67 | 175.56 | -71.3 | 4.03 | -8.62 | -35.73 |
| 21Q3 (11) | 6.04 | -31.21 | -53.07 | -1.04 | -178.2 | -123.53 | -0.95 | -155.23 | -118.06 | -1.05 | -201.94 | -124.88 | -0.82 | -209.33 | -127.06 | -0.32 | -166.67 | -120.25 | 0.39 | 2.63 | 11.43 | 1.25 | -70.31 | -83.83 | 103.66 | 5.59 | 5.06 | 108.82 | 39.58 | 29.78 | -8.82 | -140.05 | -154.64 | 4.41 | -5.97 | -8.88 |
| 21Q2 (10) | 8.78 | -36.33 | -14.84 | 1.33 | -79.15 | -46.15 | 1.72 | -76.14 | -36.06 | 1.03 | -83.2 | -51.64 | 0.75 | -84.88 | -49.32 | 0.48 | -82.42 | -40.74 | 0.38 | -11.63 | 15.15 | 4.21 | -54.58 | -20.27 | 98.17 | 18.88 | -9.08 | 77.97 | -11.84 | -14.45 | 22.03 | 90.49 | 190.11 | 4.69 | -7.13 | 0 |
| 21Q1 (9) | 13.79 | 18.88 | 50.38 | 6.38 | 79.72 | 3652.94 | 7.21 | 56.06 | -23.38 | 6.13 | 63.47 | -26.14 | 4.96 | 72.22 | -18.29 | 2.73 | 75.0 | -6.51 | 0.43 | 10.26 | 26.47 | 9.27 | 34.35 | -22.81 | 82.58 | -10.65 | -23.83 | 88.43 | 15.19 | 4869.93 | 11.57 | -50.2 | -88.22 | 5.05 | -19.46 | 0 |
| 20Q4 (8) | 11.60 | -9.87 | 52.03 | 3.55 | -19.68 | 579.73 | 4.62 | -12.17 | 13.24 | 3.75 | -11.14 | -1.06 | 2.88 | -4.95 | -7.99 | 1.56 | -1.27 | 5.41 | 0.39 | 11.43 | 8.33 | 6.90 | -10.74 | 0.88 | 92.42 | -6.33 | -26.5 | 76.77 | -8.44 | 519.06 | 23.23 | 43.82 | -80.37 | 6.27 | 29.55 | 0 |
| 20Q3 (7) | 12.87 | 24.83 | 53.58 | 4.42 | 78.95 | 505.48 | 5.26 | 95.54 | 748.39 | 4.22 | 98.12 | 955.0 | 3.03 | 104.73 | 846.88 | 1.58 | 95.06 | 464.29 | 0.35 | 6.06 | 0.0 | 7.73 | 46.4 | 137.12 | 98.67 | -8.61 | -24.55 | 83.85 | -8.0 | -27.58 | 16.15 | 112.63 | 176.71 | 4.84 | 0 | 0.62 |
| 20Q2 (6) | 10.31 | 12.43 | 34.95 | 2.47 | 1352.94 | 375.0 | 2.69 | -71.41 | 2345.45 | 2.13 | -74.34 | 888.89 | 1.48 | -75.62 | 804.76 | 0.81 | -72.26 | 1250.0 | 0.33 | -2.94 | -5.71 | 5.28 | -56.04 | 89.25 | 107.97 | -0.42 | -18.34 | 91.14 | 5022.03 | -82.91 | 7.59 | -92.27 | 101.9 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 9.17 | 20.18 | 3.27 | 0.17 | 122.97 | -73.44 | 9.41 | 130.64 | 1189.04 | 8.30 | 119.0 | 1527.45 | 6.07 | 93.93 | 1456.41 | 2.92 | 97.3 | 812.5 | 0.34 | -5.56 | -2.86 | 12.01 | 75.58 | 259.58 | 108.42 | -13.77 | -9.52 | 1.78 | 109.71 | -97.94 | 98.22 | -16.99 | 620.28 | 0.00 | 0 | -100.0 |
| 19Q4 (4) | 7.63 | -8.95 | 0.0 | -0.74 | -201.37 | 0.0 | 4.08 | 558.06 | 0.0 | 3.79 | 847.5 | 0.0 | 3.13 | 878.12 | 0.0 | 1.48 | 428.57 | 0.0 | 0.36 | 2.86 | 0.0 | 6.84 | 109.82 | 0.0 | 125.74 | -3.85 | 0.0 | -18.32 | -115.82 | 0.0 | 118.32 | 662.02 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 8.38 | 9.69 | 0.0 | 0.73 | 40.38 | 0.0 | 0.62 | 463.64 | 0.0 | 0.40 | 248.15 | 0.0 | 0.32 | 252.38 | 0.0 | 0.28 | 366.67 | 0.0 | 0.35 | 0.0 | 0.0 | 3.26 | 16.85 | 0.0 | 130.78 | -1.09 | 0.0 | 115.79 | -78.29 | 0.0 | -21.05 | 94.74 | 0.0 | 4.81 | 3.89 | 0.0 |
| 19Q2 (2) | 7.64 | -13.96 | 0.0 | 0.52 | -18.75 | 0.0 | 0.11 | -84.93 | 0.0 | -0.27 | -152.94 | 0.0 | -0.21 | -153.85 | 0.0 | 0.06 | -81.25 | 0.0 | 0.35 | 0.0 | 0.0 | 2.79 | -16.47 | 0.0 | 132.22 | 10.34 | 0.0 | 533.33 | 517.54 | 0.0 | -400.00 | -3033.33 | 0.0 | 4.63 | -7.03 | 0.0 |
| 19Q1 (1) | 8.88 | 0.0 | 0.0 | 0.64 | 0.0 | 0.0 | 0.73 | 0.0 | 0.0 | 0.51 | 0.0 | 0.0 | 0.39 | 0.0 | 0.0 | 0.32 | 0.0 | 0.0 | 0.35 | 0.0 | 0.0 | 3.34 | 0.0 | 0.0 | 119.83 | 0.0 | 0.0 | 86.36 | 0.0 | 0.0 | 13.64 | 0.0 | 0.0 | 4.98 | 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) | 9.15 | 6.89 | 2.19 | 20.33 | 1.84 | 10.07 | 2.39 | 8.14 | 2.03 | 12.78 | 7.32 | 6.71 | 3.86 | 6.93 | 1.59 | -9.14 | 4.80 | 13.21 | 121.37 | -7.88 | 91.54 | 11.03 | 8.46 | -51.79 | 0.77 | 54.29 | 4.28 | 4.14 |
| 2022 (9) | 8.56 | -7.06 | 1.82 | -11.22 | 1.67 | -12.13 | 2.21 | -7.53 | 1.80 | -5.26 | 6.86 | 8.72 | 3.61 | 2.85 | 1.75 | 4.79 | 4.24 | -7.02 | 131.75 | 26.06 | 82.45 | -3.68 | 17.55 | 21.84 | 0.50 | 46.5 | 4.11 | -9.27 |
| 2021 (8) | 9.21 | -16.42 | 2.05 | -23.79 | 1.90 | -10.22 | 2.39 | -56.39 | 1.90 | -58.61 | 6.31 | -53.09 | 3.51 | -48.76 | 1.67 | 18.44 | 4.56 | -42.71 | 104.51 | 13.08 | 85.59 | 74.81 | 14.41 | -71.69 | 0.34 | -17.24 | 4.53 | -20.94 |
| 2020 (7) | 11.02 | 35.71 | 2.69 | 896.3 | 2.12 | -2.76 | 5.48 | 283.22 | 4.59 | 299.13 | 13.45 | 269.51 | 6.85 | 217.13 | 1.41 | 0.71 | 7.96 | 93.67 | 92.42 | -26.5 | 48.96 | 159.66 | 50.89 | -37.29 | 0.41 | 26.17 | 5.73 | 21.4 |
| 2019 (6) | 8.12 | 20.3 | 0.27 | 0 | 2.18 | 21.45 | 1.43 | 0 | 1.15 | 0 | 3.64 | 0 | 2.16 | 0 | 1.40 | 1.45 | 4.11 | 168.63 | 125.74 | 2.13 | 18.86 | -80.92 | 81.14 | 6716.0 | 0.32 | -13.65 | 4.72 | -4.84 |
| 2018 (5) | 6.75 | -18.48 | -0.71 | 0 | 1.79 | 3.24 | -0.72 | 0 | -0.82 | 0 | -2.46 | 0 | -0.66 | 0 | 1.38 | 5.34 | 1.53 | -43.75 | 123.12 | 7.67 | 98.81 | 412.01 | 1.19 | -98.52 | 0.38 | -0.63 | 4.96 | -10.31 |
| 2017 (4) | 8.28 | -7.38 | 0.10 | -85.51 | 1.74 | 26.99 | 0.53 | -38.37 | 0.51 | -3.77 | 1.41 | -4.73 | 1.13 | 0.89 | 1.31 | -5.76 | 2.72 | 5.43 | 114.35 | 6.77 | 19.30 | -75.81 | 80.70 | 299.26 | 0.38 | 0 | 5.53 | 4.73 |
| 2016 (3) | 8.94 | 6.3 | 0.69 | 7.81 | 1.37 | 26.79 | 0.86 | -10.42 | 0.53 | -17.19 | 1.48 | -6.92 | 1.12 | 0.9 | 1.39 | 0.0 | 2.58 | 13.16 | 107.10 | 11.24 | 79.79 | 19.68 | 20.21 | -39.36 | 0.00 | 0 | 5.28 | 9.54 |
| 2015 (2) | 8.41 | 20.66 | 0.64 | -28.09 | 1.08 | 17.27 | 0.96 | -31.43 | 0.64 | -46.67 | 1.59 | -51.67 | 1.11 | -53.36 | 1.39 | -22.35 | 2.28 | -9.52 | 96.28 | 59.99 | 66.67 | 4.26 | 33.33 | -9.26 | 0.00 | 0 | 4.82 | 29.92 |
| 2014 (1) | 6.97 | 0 | 0.89 | 0 | 0.92 | 7.44 | 1.40 | 0 | 1.20 | 0 | 3.29 | 0 | 2.38 | 0 | 1.79 | -0.56 | 2.52 | 101.6 | 60.18 | 30.2 | 63.95 | 0 | 36.73 | -80.67 | 0.00 | 0 | 3.71 | 12.77 |
