- 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) | 23.46 | 3.12 | 18.37 | 4.54 | -35.24 | 38.41 | 5.00 | -40.05 | 50.6 | 3.83 | -41.97 | 49.03 | 1.67 | -44.7 | 35.77 | 1.17 | -40.61 | 36.05 | 0.29 | 0.0 | -6.45 | 7.49 | -30.26 | 38.19 | 45.66 | -16.47 | -19.09 | 90.62 | 7.74 | -8.08 | 9.38 | -40.98 | 563.28 | 9.26 | 8.05 | 23.3 |
| 23Q3 (19) | 22.75 | 7.16 | -2.9 | 7.01 | 164.53 | -3.31 | 8.34 | 135.59 | -2.68 | 6.60 | 126.03 | -2.8 | 3.02 | 187.62 | 1.0 | 1.97 | 166.22 | 0.0 | 0.29 | 20.83 | 3.57 | 10.74 | 68.08 | -1.92 | 54.66 | -14.37 | 11.32 | 84.11 | 12.15 | -0.63 | 15.89 | -36.46 | 3.49 | 8.57 | -16.06 | 4.26 |
| 23Q2 (18) | 21.23 | -7.09 | -9.08 | 2.65 | -46.14 | -22.51 | 3.54 | -37.68 | -10.83 | 2.92 | -35.54 | 2.82 | 1.05 | -29.05 | 11.7 | 0.74 | -28.85 | 10.45 | 0.24 | 9.09 | 9.09 | 6.39 | -26.89 | -9.49 | 63.83 | 55.91 | 0.84 | 75.00 | -13.32 | -12.93 | 25.00 | 85.56 | 80.3 | 10.21 | 2.72 | -19.16 |
| 23Q1 (17) | 22.85 | 15.29 | 4.53 | 4.92 | 50.0 | -17.59 | 5.68 | 71.08 | -11.66 | 4.53 | 76.26 | -8.48 | 1.48 | 20.33 | -16.85 | 1.04 | 20.93 | -15.45 | 0.22 | -29.03 | -8.33 | 8.74 | 61.25 | -3.74 | 40.94 | -27.45 | -0.82 | 86.53 | -12.23 | -6.8 | 13.47 | 853.22 | 88.19 | 9.94 | 32.36 | 9.71 |
| 22Q4 (16) | 19.82 | -15.41 | -3.51 | 3.28 | -54.76 | -38.35 | 3.32 | -61.26 | -47.88 | 2.57 | -62.15 | -48.6 | 1.23 | -58.86 | -55.11 | 0.86 | -56.35 | -53.01 | 0.31 | 10.71 | -13.89 | 5.42 | -50.5 | -34.14 | 56.43 | 14.93 | 6.27 | 98.59 | 16.46 | 17.93 | 1.41 | -90.79 | -91.38 | 7.51 | -8.64 | 6.83 |
| 22Q3 (15) | 23.43 | 0.34 | -2.66 | 7.25 | 111.99 | -22.46 | 8.57 | 115.87 | -8.54 | 6.79 | 139.08 | -3.41 | 2.99 | 218.09 | -14.08 | 1.97 | 194.03 | -12.83 | 0.28 | 27.27 | -12.5 | 10.95 | 55.1 | -4.53 | 49.10 | -22.43 | -6.49 | 84.65 | -1.72 | -15.25 | 15.35 | 10.7 | 6131.91 | 8.22 | -34.92 | 2.88 |
| 22Q2 (14) | 23.35 | 6.82 | -13.23 | 3.42 | -42.71 | -72.49 | 3.97 | -38.26 | -70.02 | 2.84 | -42.63 | -74.41 | 0.94 | -47.19 | -79.52 | 0.67 | -45.53 | -78.1 | 0.22 | -8.33 | -18.52 | 7.06 | -22.25 | -55.06 | 63.30 | 53.34 | 3.69 | 86.13 | -7.22 | -8.25 | 13.87 | 93.67 | 126.7 | 12.63 | 39.4 | 37.28 |
| 22Q1 (13) | 21.86 | 6.43 | -14.14 | 5.97 | 12.22 | -31.46 | 6.43 | 0.94 | -26.68 | 4.95 | -1.0 | -28.36 | 1.78 | -35.04 | -42.77 | 1.23 | -32.79 | -41.98 | 0.24 | -33.33 | -20.0 | 9.08 | 10.33 | -17.3 | 41.28 | -22.26 | -5.41 | 92.84 | 11.06 | -6.51 | 7.16 | -56.36 | 938.11 | 9.06 | 28.88 | 2.84 |
| 21Q4 (12) | 20.54 | -14.67 | -14.06 | 5.32 | -43.1 | -32.49 | 6.37 | -32.02 | -27.03 | 5.00 | -28.88 | -26.25 | 2.74 | -21.26 | -30.63 | 1.83 | -19.03 | -30.94 | 0.36 | 12.5 | -7.69 | 8.23 | -28.25 | -21.84 | 53.10 | 1.12 | -2.46 | 83.60 | -16.3 | -7.39 | 16.40 | 6559.94 | 68.56 | 7.03 | -12.02 | -5.89 |
| 21Q3 (11) | 24.07 | -10.55 | -17.48 | 9.35 | -24.78 | -28.41 | 9.37 | -29.23 | -31.8 | 7.03 | -36.67 | -30.33 | 3.48 | -24.18 | -40.72 | 2.26 | -26.14 | -41.45 | 0.32 | 18.52 | -15.79 | 11.47 | -26.99 | -26.33 | 52.51 | -13.99 | 9.24 | 99.88 | 6.38 | 5.05 | 0.25 | -95.97 | -95.08 | 7.99 | -13.15 | 2.7 |
| 21Q2 (10) | 26.91 | 5.7 | -13.22 | 12.43 | 42.71 | -20.52 | 13.24 | 50.97 | -19.51 | 11.10 | 60.64 | -10.41 | 4.59 | 47.59 | -22.34 | 3.06 | 44.34 | -21.94 | 0.27 | -10.0 | -12.9 | 15.71 | 43.08 | -15.9 | 61.05 | 39.89 | 2.99 | 93.88 | -5.46 | -1.29 | 6.12 | 786.85 | 25.0 | 9.20 | 4.43 | 0 |
| 21Q1 (9) | 25.46 | 6.53 | -10.38 | 8.71 | 10.53 | -21.39 | 8.77 | 0.46 | -23.74 | 6.91 | 1.92 | -24.15 | 3.11 | -21.27 | -11.9 | 2.12 | -20.0 | -12.4 | 0.30 | -23.08 | 15.38 | 10.98 | 4.27 | -22.35 | 43.64 | -19.84 | -6.95 | 99.31 | 10.02 | 3.07 | 0.69 | -92.91 | -81.11 | 8.81 | 17.94 | 0 |
| 20Q4 (8) | 23.90 | -18.07 | -18.76 | 7.88 | -39.66 | -43.39 | 8.73 | -36.46 | -35.24 | 6.78 | -32.8 | -32.4 | 3.95 | -32.71 | -33.95 | 2.65 | -31.35 | -35.05 | 0.39 | 2.63 | -2.5 | 10.53 | -32.37 | -31.13 | 54.44 | 13.25 | 8.08 | 90.27 | -5.05 | -12.62 | 9.73 | 94.48 | 393.94 | 7.47 | -3.98 | 18.01 |
| 20Q3 (7) | 29.17 | -5.93 | -11.71 | 13.06 | -16.5 | -20.46 | 13.74 | -16.47 | -22.11 | 10.09 | -18.56 | -23.21 | 5.87 | -0.68 | -12.39 | 3.86 | -1.53 | -14.6 | 0.38 | 22.58 | 11.76 | 15.57 | -16.65 | -21.6 | 48.07 | -18.91 | 4.98 | 95.07 | -0.04 | 2.17 | 5.00 | 2.26 | -27.96 | 7.78 | 0 | -1.89 |
| 20Q2 (6) | 31.01 | 9.15 | 1.64 | 15.64 | 41.16 | 31.1 | 16.45 | 43.04 | 28.52 | 12.39 | 36.0 | 21.95 | 5.91 | 67.42 | 54.31 | 3.92 | 61.98 | 47.37 | 0.31 | 19.23 | 19.23 | 18.68 | 32.11 | 20.13 | 59.28 | 26.4 | 10.21 | 95.11 | -1.29 | 2.07 | 4.89 | 34.03 | -28.27 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 28.41 | -3.43 | -6.76 | 11.08 | -20.4 | -19.77 | 11.50 | -14.69 | -18.21 | 9.11 | -9.17 | -16.27 | 3.53 | -40.97 | -26.92 | 2.42 | -40.69 | -28.61 | 0.26 | -35.0 | -16.13 | 14.14 | -7.52 | -12.45 | 46.90 | -6.89 | 21.47 | 96.35 | -6.74 | -1.84 | 3.65 | 210.26 | 109.3 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 29.42 | -10.96 | 0.0 | 13.92 | -15.23 | 0.0 | 13.48 | -23.58 | 0.0 | 10.03 | -23.67 | 0.0 | 5.98 | -10.75 | 0.0 | 4.08 | -9.73 | 0.0 | 0.40 | 17.65 | 0.0 | 15.29 | -23.01 | 0.0 | 50.37 | 10.0 | 0.0 | 103.31 | 11.02 | 0.0 | -3.31 | -147.67 | 0.0 | 6.33 | -20.18 | 0.0 |
| 19Q3 (3) | 33.04 | 8.29 | 0.0 | 16.42 | 37.64 | 0.0 | 17.64 | 37.81 | 0.0 | 13.14 | 29.33 | 0.0 | 6.70 | 74.93 | 0.0 | 4.52 | 69.92 | 0.0 | 0.34 | 30.77 | 0.0 | 19.86 | 27.72 | 0.0 | 45.79 | -14.87 | 0.0 | 93.05 | -0.13 | 0.0 | 6.95 | 1.82 | 0.0 | 7.93 | -21.33 | 0.0 |
| 19Q2 (2) | 30.51 | 0.13 | 0.0 | 11.93 | -13.61 | 0.0 | 12.80 | -8.96 | 0.0 | 10.16 | -6.62 | 0.0 | 3.83 | -20.7 | 0.0 | 2.66 | -21.53 | 0.0 | 0.26 | -16.13 | 0.0 | 15.55 | -3.72 | 0.0 | 53.79 | 39.32 | 0.0 | 93.18 | -5.07 | 0.0 | 6.82 | 291.08 | 0.0 | 10.08 | 21.59 | 0.0 |
| 19Q1 (1) | 30.47 | 0.0 | 0.0 | 13.81 | 0.0 | 0.0 | 14.06 | 0.0 | 0.0 | 10.88 | 0.0 | 0.0 | 4.83 | 0.0 | 0.0 | 3.39 | 0.0 | 0.0 | 0.31 | 0.0 | 0.0 | 16.15 | 0.0 | 0.0 | 38.61 | 0.0 | 0.0 | 98.16 | 0.0 | 0.0 | 1.74 | 0.0 | 0.0 | 8.29 | 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) | 22.62 | 2.91 | 4.89 | -2.0 | 2.11 | 2.8 | 5.77 | 3.59 | 4.56 | 6.05 | 7.14 | 4.23 | 4.96 | 7.83 | 1.04 | 0.97 | 8.43 | 4.33 | 45.66 | -19.09 | 84.84 | -5.28 | 15.16 | 45.36 | 0.66 | 67.25 | 9.43 | 3.4 |
| 2022 (9) | 21.98 | -8.38 | 4.99 | -42.58 | 2.06 | 16.65 | 5.57 | -39.39 | 4.30 | -41.02 | 6.85 | -50.04 | 4.60 | -49.17 | 1.03 | -15.57 | 8.08 | -28.62 | 56.43 | 6.27 | 89.57 | -5.29 | 10.43 | 92.28 | 0.40 | 9.16 | 9.12 | 11.63 |
| 2021 (8) | 23.99 | -13.95 | 8.69 | -25.92 | 1.76 | 1.81 | 9.19 | -26.13 | 7.29 | -22.86 | 13.71 | -26.37 | 9.05 | -26.84 | 1.22 | -5.43 | 11.32 | -22.04 | 53.10 | -2.46 | 94.58 | 0.31 | 5.42 | -5.06 | 0.36 | -4.43 | 8.17 | 0.86 |
| 2020 (7) | 27.88 | -9.48 | 11.73 | -17.1 | 1.73 | -5.81 | 12.44 | -14.5 | 9.45 | -14.48 | 18.62 | -11.08 | 12.37 | -12.33 | 1.29 | 2.38 | 14.52 | -13.11 | 54.44 | 8.08 | 94.29 | -3.05 | 5.71 | 107.88 | 0.38 | 42.8 | 8.10 | 2.14 |
| 2019 (6) | 30.80 | 2.02 | 14.15 | 22.83 | 1.84 | 6.3 | 14.55 | 8.18 | 11.05 | 1.75 | 20.94 | 9.58 | 14.11 | 8.62 | 1.26 | 7.69 | 16.71 | 6.64 | 50.37 | 1.53 | 97.25 | 13.49 | 2.75 | -80.8 | 0.27 | -12.29 | 7.93 | -4.34 |
| 2018 (5) | 30.19 | 8.01 | 11.52 | 9.09 | 1.73 | 10.91 | 13.45 | 29.7 | 10.86 | 30.06 | 19.11 | 27.32 | 12.99 | 27.23 | 1.17 | -1.68 | 15.67 | 26.27 | 49.61 | -3.03 | 85.69 | -15.84 | 14.31 | 0 | 0.30 | -11.44 | 8.29 | 5.34 |
| 2017 (4) | 27.95 | -5.48 | 10.56 | -5.04 | 1.56 | 15.07 | 10.37 | -14.37 | 8.35 | -14.27 | 15.01 | -20.54 | 10.21 | -19.42 | 1.19 | -7.03 | 12.41 | -10.66 | 51.16 | -0.33 | 101.82 | 10.88 | -1.79 | 0 | 0.34 | 0 | 7.87 | 3.42 |
| 2016 (3) | 29.57 | -6.16 | 11.12 | -13.66 | 1.36 | -2.3 | 12.11 | -9.08 | 9.74 | -9.73 | 18.89 | -12.14 | 12.67 | -11.58 | 1.28 | -3.03 | 13.89 | -7.34 | 51.33 | -1.35 | 91.83 | -5.04 | 8.17 | 147.97 | 0.00 | 0 | 7.61 | 4.97 |
| 2015 (2) | 31.51 | 10.41 | 12.88 | 14.29 | 1.39 | 0.15 | 13.32 | 12.98 | 10.79 | 12.51 | 21.50 | 18.0 | 14.33 | 15.56 | 1.32 | 3.13 | 14.99 | 9.5 | 52.03 | 4.29 | 96.70 | 1.15 | 3.30 | -25.06 | 0.00 | 0 | 7.25 | -6.21 |
| 2014 (1) | 28.54 | 0 | 11.27 | 0 | 1.39 | 27.74 | 11.79 | 0 | 9.59 | 0 | 18.22 | 0 | 12.40 | 0 | 1.28 | -6.57 | 13.69 | 10.49 | 49.89 | 6.97 | 95.60 | 7.62 | 4.40 | -60.62 | 0.00 | 0 | 7.73 | 2.79 |
