- 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) | 58.17 | 0.64 | 1.77 | 2.91 | -24.61 | -51.66 | 3.40 | -25.27 | -40.66 | 2.69 | -26.5 | -40.22 | 1.00 | -25.93 | -37.89 | 0.69 | -23.33 | -35.51 | 0.23 | 0.0 | 0.0 | 11.43 | -7.0 | -16.99 | 59.37 | -1.48 | 2.31 | 84.21 | -3.76 | -18.51 | 15.79 | -5.26 | 336.84 | 37.85 | 1.34 | 10.32 |
| 23Q3 (19) | 57.80 | 0.52 | 3.23 | 3.86 | -25.34 | 3609.09 | 4.55 | -37.5 | 127.5 | 3.66 | -38.38 | 120.48 | 1.35 | -36.02 | 154.72 | 0.90 | -34.78 | 130.77 | 0.23 | 4.55 | 15.0 | 12.29 | -20.61 | 11.63 | 60.26 | -0.68 | -0.5 | 87.50 | 24.52 | 0 | 16.67 | -43.94 | -85.0 | 37.35 | 1.85 | -0.64 |
| 23Q2 (18) | 57.50 | -1.19 | 8.9 | 5.17 | -31.43 | 187.33 | 7.28 | -3.45 | 1111.11 | 5.94 | -2.14 | 671.43 | 2.11 | -3.21 | 859.09 | 1.38 | -4.17 | 590.0 | 0.22 | -4.35 | 22.22 | 15.48 | -3.37 | 61.59 | 60.67 | 2.1 | -7.22 | 70.27 | -29.73 | -91.22 | 29.73 | 0 | 104.25 | 36.67 | 3.21 | -10.19 |
| 23Q1 (17) | 58.19 | 1.8 | 1.09 | 7.54 | 25.25 | 166.43 | 7.54 | 31.59 | 59.07 | 6.07 | 34.89 | 57.66 | 2.18 | 35.4 | 84.75 | 1.44 | 34.58 | 77.78 | 0.23 | 0.0 | 15.0 | 16.02 | 16.34 | 14.92 | 59.42 | 2.4 | 13.83 | 100.00 | -3.23 | 61.54 | 0.00 | 100.0 | -100.0 | 35.53 | 3.56 | -9.08 |
| 22Q4 (16) | 57.16 | 2.09 | -0.44 | 6.02 | 5572.73 | 14.89 | 5.73 | 186.5 | 0.17 | 4.50 | 171.08 | -1.1 | 1.61 | 203.77 | 3.21 | 1.07 | 174.36 | 2.88 | 0.23 | 15.0 | 4.55 | 13.77 | 25.07 | -3.64 | 58.03 | -4.18 | -0.22 | 103.33 | 0 | 11.28 | -6.67 | -106.0 | -193.33 | 34.31 | -8.73 | 2.2 |
| 22Q3 (15) | 55.99 | 6.04 | 6.1 | -0.11 | 98.14 | 91.91 | 2.00 | 377.78 | -65.16 | 1.66 | 115.58 | -64.3 | 0.53 | 140.91 | -62.41 | 0.39 | 95.0 | -58.95 | 0.20 | 11.11 | 5.26 | 11.01 | 14.93 | -29.83 | 60.56 | -7.39 | 6.0 | 0.00 | -100.0 | 100.0 | 111.11 | 115.87 | -7.41 | 37.59 | -7.94 | 0.94 |
| 22Q2 (14) | 52.80 | -8.27 | -1.64 | -5.92 | -309.19 | 14.82 | -0.72 | -115.19 | 86.44 | 0.77 | -80.0 | 118.97 | 0.22 | -81.36 | 120.95 | 0.20 | -75.31 | 132.26 | 0.18 | -10.0 | 5.88 | 9.58 | -31.28 | 64.04 | 65.39 | 25.27 | 11.99 | 800.00 | 1192.31 | 515.38 | -700.00 | -1733.33 | -2233.33 | 40.83 | 4.48 | -4.51 |
| 22Q1 (13) | 57.56 | 0.26 | -2.16 | 2.83 | -45.99 | -35.97 | 4.74 | -17.13 | 11.53 | 3.85 | -15.38 | 11.59 | 1.18 | -24.36 | 7.27 | 0.81 | -22.12 | 8.0 | 0.20 | -9.09 | 0.0 | 13.94 | -2.45 | 6.01 | 52.20 | -10.25 | -2.9 | 61.90 | -33.33 | -41.04 | 42.86 | 500.0 | 957.14 | 39.08 | 16.41 | 0.96 |
| 21Q4 (12) | 57.41 | 8.79 | -0.79 | 5.24 | 485.29 | -4.38 | 5.72 | -0.35 | 13.27 | 4.55 | -2.15 | 12.62 | 1.56 | 10.64 | 13.04 | 1.04 | 9.47 | 14.29 | 0.22 | 15.79 | 4.76 | 14.29 | -8.92 | 4.61 | 58.16 | 1.8 | -5.84 | 92.86 | 486.9 | -13.78 | 7.14 | -94.05 | 192.86 | 33.57 | -9.85 | -3.23 |
| 21Q3 (11) | 52.77 | -1.7 | -9.83 | -1.36 | 80.43 | -119.35 | 5.74 | 208.1 | -10.73 | 4.65 | 214.53 | -3.53 | 1.41 | 234.29 | -16.57 | 0.95 | 253.23 | -11.21 | 0.19 | 11.76 | -9.52 | 15.69 | 168.66 | 4.25 | 57.13 | -2.16 | -14.24 | -24.00 | -118.46 | -121.33 | 120.00 | 500.0 | 1380.0 | 37.24 | -12.91 | 5.14 |
| 21Q2 (10) | 53.68 | -8.75 | -4.65 | -6.95 | -257.24 | -342.68 | -5.31 | -224.94 | -772.15 | -4.06 | -217.68 | -414.73 | -1.05 | -195.45 | -400.0 | -0.62 | -182.67 | -329.63 | 0.17 | -15.0 | 0.0 | 5.84 | -55.59 | -47.72 | 58.39 | 8.61 | -9.02 | 130.00 | 23.81 | 165.0 | -30.00 | -500.0 | -109.0 | 42.76 | 10.46 | 0 |
| 21Q1 (9) | 58.83 | 1.66 | 3.36 | 4.42 | -19.34 | 160.0 | 4.25 | -15.84 | 133.52 | 3.45 | -14.6 | 130.0 | 1.10 | -20.29 | 144.44 | 0.75 | -17.58 | 114.29 | 0.20 | -4.76 | 0.0 | 13.15 | -3.73 | 24.76 | 53.76 | -12.97 | 8.78 | 105.00 | -2.5 | 18.13 | -5.00 | 35.0 | -145.0 | 38.71 | 11.59 | -1.2 |
| 20Q4 (8) | 57.87 | -1.11 | 0.21 | 5.48 | -22.05 | -26.15 | 5.05 | -21.46 | -28.17 | 4.04 | -16.18 | -27.34 | 1.38 | -18.34 | -31.34 | 0.91 | -14.95 | -32.59 | 0.21 | 0.0 | -8.7 | 13.66 | -9.24 | -6.18 | 61.77 | -7.28 | 14.37 | 107.69 | -4.27 | 2.68 | -7.69 | 17.95 | -57.69 | 34.69 | -2.06 | 0 |
| 20Q3 (7) | 58.52 | 3.94 | 1.4 | 7.03 | 547.77 | -9.87 | 6.43 | 713.92 | -24.26 | 4.82 | 273.64 | -29.43 | 1.69 | 382.86 | -33.73 | 1.07 | 296.3 | -34.76 | 0.21 | 23.53 | -8.7 | 15.05 | 34.74 | -7.61 | 66.62 | 3.8 | 20.21 | 112.50 | 156.25 | 20.0 | -9.38 | -102.81 | -212.5 | 35.42 | 0 | 3.78 |
| 20Q2 (6) | 56.30 | -1.09 | -1.61 | -1.57 | -192.35 | -123.12 | 0.79 | -56.59 | -91.69 | 1.29 | -14.0 | -83.35 | 0.35 | -22.22 | -86.84 | 0.27 | -22.86 | -84.3 | 0.17 | -15.0 | -22.73 | 11.17 | 5.98 | -36.86 | 64.18 | 29.87 | -2.22 | -200.00 | -325.0 | -383.33 | 333.33 | 2900.0 | 1033.33 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 56.92 | -1.44 | -3.26 | 1.70 | -77.09 | -82.51 | 1.82 | -74.11 | -81.39 | 1.50 | -73.02 | -80.92 | 0.45 | -77.61 | -83.52 | 0.35 | -74.07 | -82.14 | 0.20 | -13.04 | -16.67 | 10.54 | -27.61 | -40.05 | 49.42 | -8.5 | -5.69 | 88.89 | -15.25 | -11.11 | 11.11 | 327.78 | 0 | 39.18 | 0 | 11.31 |
| 19Q4 (4) | 57.75 | 0.07 | 0.0 | 7.42 | -4.87 | 0.0 | 7.03 | -17.2 | 0.0 | 5.56 | -18.59 | 0.0 | 2.01 | -21.18 | 0.0 | 1.35 | -17.68 | 0.0 | 0.23 | 0.0 | 0.0 | 14.56 | -10.62 | 0.0 | 54.01 | -2.54 | 0.0 | 104.88 | 11.87 | 0.0 | -4.88 | -158.54 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 57.71 | 0.86 | 0.0 | 7.80 | 14.87 | 0.0 | 8.49 | -10.73 | 0.0 | 6.83 | -11.87 | 0.0 | 2.55 | -4.14 | 0.0 | 1.64 | -4.65 | 0.0 | 0.23 | 4.55 | 0.0 | 16.29 | -7.91 | 0.0 | 55.42 | -15.57 | 0.0 | 93.75 | 32.81 | 0.0 | 8.33 | -71.67 | 0.0 | 34.13 | -4.34 | 0.0 |
| 19Q2 (2) | 57.22 | -2.75 | 0.0 | 6.79 | -30.14 | 0.0 | 9.51 | -2.76 | 0.0 | 7.75 | -1.4 | 0.0 | 2.66 | -2.56 | 0.0 | 1.72 | -12.24 | 0.0 | 0.22 | -8.33 | 0.0 | 17.69 | 0.63 | 0.0 | 65.64 | 25.27 | 0.0 | 70.59 | -29.41 | 0.0 | 29.41 | 0 | 0.0 | 35.68 | 1.36 | 0.0 |
| 19Q1 (1) | 58.84 | 0.0 | 0.0 | 9.72 | 0.0 | 0.0 | 9.78 | 0.0 | 0.0 | 7.86 | 0.0 | 0.0 | 2.73 | 0.0 | 0.0 | 1.96 | 0.0 | 0.0 | 0.24 | 0.0 | 0.0 | 17.58 | 0.0 | 0.0 | 52.40 | 0.0 | 0.0 | 100.00 | 0.0 | 0.0 | 0.00 | 0.0 | 0.0 | 35.20 | 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) | 57.92 | 3.43 | 4.83 | 351.4 | 7.68 | -10.21 | 5.64 | 80.19 | 4.54 | 61.57 | 6.44 | 84.0 | 4.29 | 75.1 | 0.89 | 12.66 | 13.74 | 12.62 | 59.37 | 2.31 | 85.71 | 144.29 | 14.29 | -78.57 | 0.29 | 247.05 | 36.87 | -2.31 |
| 2022 (9) | 56.00 | 0.21 | 1.07 | 27.38 | 8.55 | -5.24 | 3.13 | 4.68 | 2.81 | 14.69 | 3.50 | 19.45 | 2.45 | 20.1 | 0.79 | 5.33 | 12.20 | -2.56 | 58.03 | -0.22 | 35.09 | 23.98 | 66.67 | -7.02 | 0.08 | -50.96 | 37.74 | -0.13 |
| 2021 (8) | 55.88 | -2.75 | 0.84 | -75.37 | 9.02 | 6.17 | 2.99 | -18.75 | 2.45 | -18.6 | 2.93 | -20.38 | 2.04 | -20.0 | 0.75 | -2.6 | 12.52 | -1.42 | 58.16 | -5.84 | 28.30 | -69.52 | 71.70 | 903.77 | 0.17 | -29.72 | 37.79 | 0.91 |
| 2020 (7) | 57.46 | -0.73 | 3.41 | -57.05 | 8.50 | 14.41 | 3.68 | -57.6 | 3.01 | -56.88 | 3.68 | -62.18 | 2.55 | -63.26 | 0.77 | -19.79 | 12.70 | -23.03 | 61.77 | 14.37 | 92.86 | 1.73 | 7.14 | -18.07 | 0.25 | -12.31 | 37.45 | 7.55 |
| 2019 (6) | 57.88 | 1.05 | 7.94 | 5.87 | 7.43 | 171.52 | 8.68 | -12.5 | 6.98 | -12.42 | 9.73 | -13.43 | 6.94 | -16.18 | 0.96 | -6.8 | 16.50 | 29.21 | 54.01 | 54.27 | 91.28 | 21.34 | 8.72 | -64.14 | 0.28 | -12.85 | 34.82 | -0.09 |
| 2018 (5) | 57.28 | 0.65 | 7.50 | -17.31 | 2.74 | -10.34 | 9.92 | 0.2 | 7.97 | -3.16 | 11.24 | -6.26 | 8.28 | -4.5 | 1.03 | -1.9 | 12.77 | -2.52 | 35.01 | -7.87 | 75.23 | -17.75 | 24.31 | 184.99 | 0.32 | 0 | 34.85 | -2.71 |
| 2017 (4) | 56.91 | 0.78 | 9.07 | 4.13 | 3.05 | 0.23 | 9.90 | 3.34 | 8.23 | 3.39 | 11.99 | 1.61 | 8.67 | 1.17 | 1.05 | -1.87 | 13.10 | 2.42 | 38.00 | -4.64 | 91.47 | 0.32 | 8.53 | -8.41 | 0.00 | 0 | 35.82 | 1.47 |
| 2016 (3) | 56.47 | -1.5 | 8.71 | 0.11 | 3.04 | 8.23 | 9.58 | -16.91 | 7.96 | -18.86 | 11.80 | -18.06 | 8.57 | -18.92 | 1.07 | 0.0 | 12.79 | -11.73 | 39.85 | 8.46 | 91.18 | 21.24 | 9.31 | -61.81 | 0.00 | 0 | 35.30 | -1.31 |
| 2015 (2) | 57.33 | -3.84 | 8.70 | -22.18 | 2.81 | -0.9 | 11.53 | -11.1 | 9.81 | -9.08 | 14.40 | -9.09 | 10.57 | -8.56 | 1.07 | 0.0 | 14.49 | -8.93 | 36.74 | 0.33 | 75.20 | -12.58 | 24.39 | 79.08 | 0.00 | 0 | 35.77 | 0.48 |
| 2014 (1) | 59.62 | 0 | 11.18 | 0 | 2.84 | 3.38 | 12.97 | 0 | 10.79 | 0 | 15.84 | 0 | 11.56 | 0 | 1.07 | 3.88 | 15.91 | -1.67 | 36.62 | -3.88 | 86.02 | 0.06 | 13.62 | -2.91 | 0.00 | 0 | 35.60 | 0.37 |
