- 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) | 30.38 | 7.43 | 3.44 | 13.25 | 40.21 | 11.72 | 10.11 | -73.92 | -12.39 | 9.56 | -73.09 | -7.9 | 0.79 | -66.95 | -7.06 | 0.62 | -64.16 | -6.06 | 0.06 | 20.0 | 0.0 | 15.18 | -66.21 | -8.94 | 41.05 | 1.28 | -2.73 | 130.84 | 436.96 | 27.37 | -30.84 | -140.78 | -1030.84 | 13.97 | -15.89 | -9.05 |
| 23Q3 (19) | 28.28 | -7.37 | 8.6 | 9.45 | 12.1 | -13.46 | 38.76 | 8.3 | 18.64 | 35.52 | 44.68 | 25.47 | 2.39 | 69.5 | 4.37 | 1.73 | 64.76 | 5.49 | 0.05 | 25.0 | -16.67 | 44.92 | 4.01 | 19.63 | 40.53 | -9.45 | -6.38 | 24.37 | 2.51 | -27.14 | 75.63 | -1.31 | 13.64 | 16.61 | -14.47 | 23.96 |
| 23Q2 (18) | 30.53 | 8.38 | 4.91 | 8.43 | -18.0 | -13.0 | 35.79 | 181.37 | -12.24 | 24.55 | 125.23 | -37.88 | 1.41 | 85.53 | -41.74 | 1.05 | 75.0 | -39.31 | 0.04 | -20.0 | 0.0 | 43.19 | 129.49 | -8.22 | 44.76 | 12.52 | 0.77 | 23.77 | -70.64 | 0.25 | 76.64 | 302.36 | 0.46 | 19.42 | 24.97 | 13.97 |
| 23Q1 (17) | 28.17 | -4.09 | 12.59 | 10.28 | -13.32 | 378.14 | 12.72 | 10.23 | -93.88 | 10.90 | 5.01 | -94.27 | 0.76 | -10.59 | -94.21 | 0.60 | -9.09 | -93.12 | 0.05 | -16.67 | 0.0 | 18.82 | 12.9 | -91.21 | 39.78 | -5.73 | -6.64 | 80.95 | -21.2 | 7782.74 | 19.05 | 798.41 | -80.75 | 15.54 | 1.17 | -19.69 |
| 22Q4 (16) | 29.37 | 12.79 | 24.82 | 11.86 | 8.61 | 70.65 | 11.54 | -64.68 | 60.72 | 10.38 | -63.33 | 85.69 | 0.85 | -62.88 | 63.46 | 0.66 | -59.76 | 78.38 | 0.06 | 0.0 | 0.0 | 16.67 | -55.61 | 40.2 | 42.20 | -2.52 | -31.01 | 102.73 | 207.17 | 5.94 | -2.73 | -104.1 | -190.0 | 15.36 | 14.63 | -1.41 |
| 22Q3 (15) | 26.04 | -10.52 | 11.42 | 10.92 | 12.69 | 253.4 | 32.67 | -19.89 | -30.87 | 28.31 | -28.37 | -39.7 | 2.29 | -5.37 | -27.3 | 1.64 | -5.2 | -23.0 | 0.06 | 50.0 | 50.0 | 37.55 | -20.21 | -29.47 | 43.29 | -2.54 | -16.3 | 33.44 | 41.04 | 411.67 | 66.56 | -12.76 | -28.79 | 13.40 | -21.36 | -24.68 |
| 22Q2 (14) | 29.10 | 16.31 | -7.41 | 9.69 | 350.7 | -16.32 | 40.78 | -80.38 | 557.74 | 39.52 | -79.23 | 730.25 | 2.42 | -81.57 | 656.25 | 1.73 | -80.16 | 592.0 | 0.04 | -20.0 | -20.0 | 47.06 | -78.01 | 282.6 | 44.42 | 4.25 | -11.78 | 23.71 | 2208.89 | -87.33 | 76.29 | -22.92 | 187.51 | 17.04 | -11.94 | 16.16 |
| 22Q1 (13) | 25.02 | 6.33 | -15.3 | 2.15 | -69.06 | -72.51 | 207.88 | 2795.26 | 1452.5 | 190.28 | 3303.94 | 1505.74 | 13.13 | 2425.0 | 1749.3 | 8.72 | 2256.76 | 1609.8 | 0.05 | -16.67 | 25.0 | 214.02 | 1700.0 | 960.56 | 42.61 | -30.34 | -15.79 | 1.03 | -98.94 | -98.23 | 98.97 | 3166.11 | 136.26 | 19.35 | 24.2 | 3.64 |
| 21Q4 (12) | 23.53 | 0.68 | -25.47 | 6.95 | 124.92 | -50.29 | 7.18 | -84.81 | -54.76 | 5.59 | -88.09 | -56.26 | 0.52 | -83.49 | -48.0 | 0.37 | -82.63 | -47.14 | 0.06 | 50.0 | 20.0 | 11.89 | -77.67 | -45.21 | 61.17 | 18.27 | 23.75 | 96.97 | 1383.64 | 10.24 | 3.03 | -96.76 | -74.83 | 15.58 | -12.42 | 13.89 |
| 21Q3 (11) | 23.37 | -25.64 | -23.15 | 3.09 | -73.32 | -58.69 | 47.26 | 662.26 | -13.36 | 46.95 | 886.34 | -12.36 | 3.15 | 884.38 | 3.28 | 2.13 | 752.0 | 5.45 | 0.04 | -20.0 | 0.0 | 53.24 | 332.85 | -16.03 | 51.72 | 2.72 | -1.47 | 6.54 | -96.51 | -52.01 | 93.46 | 207.21 | 8.69 | 17.79 | 21.27 | -4.25 |
| 21Q2 (10) | 31.43 | 6.4 | 8.83 | 11.58 | 48.08 | 593.41 | 6.20 | -53.7 | 110.17 | 4.76 | -59.83 | 80.99 | 0.32 | -54.93 | 128.57 | 0.25 | -50.98 | 78.57 | 0.05 | 25.0 | 66.67 | 12.30 | -39.05 | -5.53 | 50.35 | -0.49 | -9.3 | 187.18 | 222.12 | 247.62 | -87.18 | -308.11 | -288.89 | 14.67 | -21.42 | 0 |
| 21Q1 (9) | 29.54 | -6.43 | 19.11 | 7.82 | -44.06 | 71.87 | 13.39 | -15.63 | 312.0 | 11.85 | -7.28 | 379.76 | 0.71 | -29.0 | 317.65 | 0.51 | -27.14 | 218.75 | 0.04 | -20.0 | 0.0 | 20.18 | -7.0 | 81.64 | 50.60 | 2.37 | -11.65 | 58.11 | -33.94 | -59.77 | 41.89 | 248.02 | 207.72 | 18.67 | 36.48 | 0 |
| 20Q4 (8) | 31.57 | 3.81 | 7.05 | 13.98 | 86.9 | 30.29 | 15.87 | -70.91 | 156.8 | 12.78 | -76.14 | 97.53 | 1.00 | -67.21 | 88.68 | 0.70 | -65.35 | 75.0 | 0.05 | 25.0 | 0.0 | 21.70 | -65.77 | 72.09 | 49.43 | -5.83 | 3.35 | 87.96 | 545.9 | -49.07 | 12.04 | -86.0 | 116.55 | 13.68 | -26.37 | 1.11 |
| 20Q3 (7) | 30.41 | 5.3 | 14.71 | 7.48 | 347.9 | 179.1 | 54.55 | 1749.15 | -3.02 | 53.57 | 1936.88 | -4.8 | 3.05 | 2078.57 | -8.13 | 2.02 | 1342.86 | -11.01 | 0.04 | 33.33 | 0.0 | 63.40 | 386.94 | -3.28 | 52.49 | -5.44 | 8.38 | 13.62 | -74.71 | 178.21 | 85.99 | 86.32 | -9.58 | 18.58 | 0 | -6.26 |
| 20Q2 (6) | 28.88 | 16.45 | -13.64 | 1.67 | -63.3 | -79.25 | 2.95 | -9.23 | -74.72 | 2.63 | 6.48 | -77.07 | 0.14 | -17.65 | -77.05 | 0.14 | -12.5 | -70.21 | 0.03 | -25.0 | -25.0 | 13.02 | 17.19 | -40.66 | 55.51 | -3.07 | 13.31 | 53.85 | -62.72 | -21.41 | 46.15 | 218.68 | 46.61 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 24.80 | -15.9 | 4.03 | 4.55 | -57.6 | 237.46 | 3.25 | -47.41 | 324.14 | 2.47 | -61.82 | 265.77 | 0.17 | -67.92 | 342.86 | 0.16 | -60.0 | 0 | 0.04 | -20.0 | 33.33 | 11.11 | -11.9 | 6.83 | 57.27 | 19.74 | 32.88 | 144.44 | -16.37 | -33.33 | -38.89 | 46.53 | 70.83 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 29.49 | 11.24 | 0.0 | 10.73 | 300.37 | 0.0 | 6.18 | -89.01 | 0.0 | 6.47 | -88.5 | 0.0 | 0.53 | -84.04 | 0.0 | 0.40 | -82.38 | 0.0 | 0.05 | 25.0 | 0.0 | 12.61 | -80.76 | 0.0 | 47.83 | -1.24 | 0.0 | 172.73 | 3428.57 | 0.0 | -72.73 | -176.47 | 0.0 | 13.53 | -31.74 | 0.0 |
| 19Q3 (3) | 26.51 | -20.72 | 0.0 | 2.68 | -66.71 | 0.0 | 56.25 | 382.01 | 0.0 | 56.27 | 390.58 | 0.0 | 3.32 | 444.26 | 0.0 | 2.27 | 382.98 | 0.0 | 0.04 | 0.0 | 0.0 | 65.55 | 198.77 | 0.0 | 48.43 | -1.14 | 0.0 | 4.90 | -92.86 | 0.0 | 95.10 | 202.1 | 0.0 | 19.82 | 1.9 | 0.0 |
| 19Q2 (2) | 33.44 | 40.27 | 0.0 | 8.05 | 343.2 | 0.0 | 11.67 | 904.83 | 0.0 | 11.47 | 869.8 | 0.0 | 0.61 | 971.43 | 0.0 | 0.47 | 0 | 0.0 | 0.04 | 33.33 | 0.0 | 21.94 | 110.96 | 0.0 | 48.99 | 13.67 | 0.0 | 68.52 | -68.38 | 0.0 | 31.48 | 123.61 | 0.0 | 19.45 | -10.33 | 0.0 |
| 19Q1 (1) | 23.84 | 0.0 | 0.0 | -3.31 | 0.0 | 0.0 | -1.45 | 0.0 | 0.0 | -1.49 | 0.0 | 0.0 | -0.07 | 0.0 | 0.0 | 0.00 | 0.0 | 0.0 | 0.03 | 0.0 | 0.0 | 10.40 | 0.0 | 0.0 | 43.10 | 0.0 | 0.0 | 216.67 | 0.0 | 0.0 | -133.33 | 0.0 | 0.0 | 21.69 | 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) | 29.36 | 7.11 | 10.63 | 18.64 | 4.40 | 1.73 | 22.85 | -66.19 | 19.18 | -68.98 | 5.21 | -72.64 | 3.93 | -69.27 | 0.19 | -5.0 | 28.91 | -60.44 | 41.05 | -2.73 | 46.57 | 251.46 | 53.43 | -38.38 | 0.03 | 50.08 | 16.09 | 0.19 |
| 2022 (9) | 27.41 | 3.36 | 8.96 | 23.08 | 4.33 | -5.54 | 67.58 | 282.89 | 61.83 | 277.01 | 19.04 | 303.39 | 12.79 | 300.94 | 0.20 | 5.26 | 73.07 | 212.93 | 42.20 | -31.01 | 13.25 | -67.87 | 86.70 | 47.55 | 0.02 | 44.93 | 16.06 | -2.73 |
| 2021 (8) | 26.52 | -8.52 | 7.28 | -4.21 | 4.58 | -29.14 | 17.65 | -4.18 | 16.40 | -3.3 | 4.72 | 15.4 | 3.19 | 9.25 | 0.19 | 18.75 | 23.35 | -11.18 | 61.17 | 23.75 | 41.24 | 0.18 | 58.76 | -0.13 | 0.01 | -15.84 | 16.51 | -3.05 |
| 2020 (7) | 28.99 | 1.54 | 7.60 | 39.71 | 6.47 | -15.22 | 18.42 | 1.6 | 16.96 | -6.71 | 4.09 | -7.47 | 2.92 | -8.46 | 0.16 | -5.88 | 26.29 | -3.2 | 49.43 | 3.35 | 41.16 | 37.69 | 58.84 | -15.75 | 0.01 | -36.57 | 17.03 | -5.23 |
| 2019 (6) | 28.55 | 11.83 | 5.44 | 0 | 7.63 | 3.84 | 18.13 | 4.2 | 18.18 | 4.66 | 4.42 | 39.87 | 3.19 | 39.91 | 0.17 | 41.67 | 27.16 | 3.35 | 47.83 | 5.05 | 29.89 | 0 | 69.84 | -35.69 | 0.02 | 184.4 | 17.97 | -16.73 |
| 2018 (5) | 25.53 | 32.83 | -1.48 | 0 | 7.35 | -8.13 | 17.40 | -81.26 | 17.37 | -79.03 | 3.16 | -78.06 | 2.28 | -76.35 | 0.12 | 9.09 | 26.28 | -74.49 | 45.53 | -6.97 | -8.60 | 0 | 108.60 | -0.41 | 0.01 | -62.51 | 21.58 | -3.27 |
| 2017 (4) | 19.22 | -15.7 | -8.46 | 0 | 8.00 | -2.58 | 92.85 | 749.5 | 82.83 | 636.92 | 14.40 | 623.62 | 9.64 | 551.35 | 0.11 | 0.0 | 103.02 | 376.06 | 48.94 | -13.87 | -9.12 | 0 | 109.04 | -13.94 | 0.02 | 0 | 22.31 | 5.29 |
| 2016 (3) | 22.80 | 21.41 | -2.88 | 0 | 8.21 | -16.18 | 10.93 | 7.58 | 11.24 | 12.29 | 1.99 | 30.07 | 1.48 | 22.31 | 0.11 | 10.0 | 21.64 | -6.64 | 56.82 | 0.51 | -26.71 | 0 | 126.71 | -31.49 | 0.00 | 0 | 21.19 | -10.52 |
| 2015 (2) | 18.78 | -23.47 | -8.62 | 0 | 9.79 | 0.15 | 10.16 | 10.68 | 10.01 | 12.85 | 1.53 | 6.99 | 1.21 | 6.14 | 0.10 | -9.09 | 23.18 | 7.76 | 56.53 | -0.65 | -84.96 | 0 | 184.96 | 52.48 | 0.00 | 0 | 23.68 | 6.91 |
| 2014 (1) | 24.54 | 0 | -1.96 | 0 | 9.78 | 14.39 | 9.18 | 0 | 8.87 | 0 | 1.43 | 0 | 1.14 | 0 | 0.11 | 10.0 | 21.51 | -25.39 | 56.90 | 20.68 | -21.30 | 0 | 121.30 | 1.38 | 0.00 | 0 | 22.15 | 6.49 |
