- 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) | 16.58 | -13.24 | 114.21 | 0.15 | -95.1 | 101.78 | -0.93 | -117.42 | 49.46 | 0.03 | -99.2 | 105.56 | 0.00 | -100.0 | 100.0 | 0.02 | -95.92 | 150.0 | 0.11 | -15.38 | 10.0 | 9.38 | -34.77 | -6.2 | 16.25 | 8.77 | -7.98 | -0.00 | -100.0 | -100.0 | 100.00 | 166.67 | 128.57 | 33.36 | 18.63 | -6.89 |
| 23Q3 (19) | 19.11 | 0.68 | -5.02 | 3.06 | -26.09 | -60.57 | 5.34 | -23.61 | -30.38 | 3.77 | -33.98 | -32.32 | 0.56 | -36.36 | -57.25 | 0.49 | -33.78 | -54.63 | 0.13 | 0.0 | -31.58 | 14.38 | -6.87 | 4.81 | 14.94 | -20.66 | -19.98 | 50.00 | -16.67 | -52.78 | 37.50 | -6.25 | 0 | 28.12 | -3.1 | 44.95 |
| 23Q2 (18) | 18.98 | -15.94 | -15.23 | 4.14 | -59.29 | -58.89 | 6.99 | -59.62 | 1498.0 | 5.71 | -62.43 | 297.58 | 0.88 | -75.76 | 239.68 | 0.74 | -75.74 | 254.17 | 0.13 | -35.0 | -23.53 | 15.44 | -32.4 | 148.23 | 18.83 | -13.15 | -28.24 | 60.00 | 0.0 | 102.86 | 40.00 | -5.88 | -98.18 | 29.02 | 52.74 | 42.46 |
| 23Q1 (17) | 22.58 | 191.73 | -7.8 | 10.17 | 220.64 | -21.71 | 17.31 | 1040.76 | 45.46 | 15.20 | 2914.81 | 69.64 | 3.63 | 6150.0 | 32.97 | 3.05 | 7725.0 | 41.86 | 0.20 | 100.0 | -16.67 | 22.84 | 128.4 | 39.87 | 21.68 | 22.76 | -28.09 | 60.00 | -86.67 | -44.62 | 42.50 | 112.14 | 610.0 | 19.00 | -46.97 | 9.2 |
| 22Q4 (16) | 7.74 | -61.53 | -64.27 | -8.43 | -208.63 | -166.43 | -1.84 | -123.99 | -118.66 | -0.54 | -109.69 | -107.02 | -0.06 | -104.58 | -103.61 | -0.04 | -103.7 | -102.94 | 0.10 | -47.37 | -44.44 | 10.00 | -27.11 | -38.57 | 17.66 | -5.41 | -28.65 | 450.00 | 325.0 | 250.0 | -350.00 | 0 | -1125.0 | 35.83 | 84.69 | 77.03 |
| 22Q3 (15) | 20.12 | -10.14 | -13.35 | 7.76 | -22.94 | -20.9 | 7.67 | 1634.0 | 4.07 | 5.57 | 292.73 | 6.5 | 1.31 | 307.94 | 0.77 | 1.08 | 325.0 | 0.0 | 0.19 | 11.76 | -5.0 | 13.72 | 120.58 | 4.65 | 18.67 | -28.85 | -4.84 | 105.88 | 105.04 | -20.59 | 0.00 | -100.0 | 100.0 | 19.40 | -4.76 | -8.23 |
| 22Q2 (14) | 22.39 | -8.57 | 7.59 | 10.07 | -22.48 | 43.04 | -0.50 | -104.2 | -103.8 | -2.89 | -132.25 | -123.01 | -0.63 | -123.08 | -120.52 | -0.48 | -122.33 | -119.2 | 0.17 | -29.17 | -15.0 | 6.22 | -61.91 | -67.52 | 26.24 | -12.97 | 14.44 | -2100.00 | -2038.46 | -3929.41 | 2200.00 | 26500.0 | 4771.43 | 20.37 | 17.07 | -9.31 |
| 22Q1 (13) | 24.49 | 13.07 | 26.11 | 12.99 | 2.36 | 119.8 | 11.90 | 20.69 | 174.83 | 8.96 | 16.51 | 179.13 | 2.73 | 64.46 | 301.47 | 2.15 | 58.09 | 283.93 | 0.24 | 33.33 | 41.18 | 16.33 | 0.31 | 43.37 | 30.15 | 21.82 | 25.21 | 108.33 | -15.74 | -18.75 | -8.33 | 70.83 | 75.0 | 17.40 | -14.03 | -28.54 |
| 21Q4 (12) | 21.66 | -6.72 | 25.93 | 12.69 | 29.36 | 190.39 | 9.86 | 33.79 | -10.93 | 7.69 | 47.04 | -23.33 | 1.66 | 27.69 | -11.23 | 1.36 | 25.93 | -14.47 | 0.18 | -10.0 | 12.5 | 16.28 | 24.18 | -14.76 | 24.75 | 26.15 | 15.38 | 128.57 | -3.57 | 221.43 | -28.57 | 14.29 | -147.62 | 20.24 | -4.26 | -17.86 |
| 21Q3 (11) | 23.22 | 11.58 | 29.29 | 9.81 | 39.35 | 273.0 | 7.37 | -44.04 | 6.97 | 5.23 | -58.36 | -12.69 | 1.30 | -57.65 | 28.71 | 1.08 | -56.8 | 25.58 | 0.20 | 0.0 | 42.86 | 13.11 | -31.54 | -9.96 | 19.62 | -14.44 | 23.16 | 133.33 | 143.14 | 266.67 | -33.33 | -173.81 | -152.38 | 21.14 | -5.88 | -17.42 |
| 21Q2 (10) | 20.81 | 7.16 | 334.45 | 7.04 | 19.12 | 145.51 | 13.17 | 204.16 | 196.91 | 12.56 | 291.28 | 219.17 | 3.07 | 351.47 | 407.0 | 2.50 | 346.43 | 416.46 | 0.20 | 17.65 | 150.0 | 19.15 | 68.13 | 0 | 22.93 | -4.78 | 4.94 | 54.84 | -58.87 | -53.0 | 45.16 | 235.48 | 370.97 | 22.46 | -7.76 | 0 |
| 21Q1 (9) | 19.42 | 12.91 | -20.41 | 5.91 | 35.24 | -40.78 | 4.33 | -60.89 | -59.53 | 3.21 | -68.0 | -61.65 | 0.68 | -63.64 | -62.22 | 0.56 | -64.78 | -61.9 | 0.17 | 6.25 | 0.0 | 11.39 | -40.37 | -30.97 | 24.08 | 12.26 | -13.44 | 133.33 | 233.33 | 39.68 | -33.33 | -155.56 | -833.33 | 24.35 | -1.18 | 0 |
| 20Q4 (8) | 17.20 | -4.23 | -33.44 | 4.37 | 66.16 | -53.36 | 11.07 | 60.67 | 21.92 | 10.03 | 67.45 | 37.96 | 1.87 | 85.15 | 28.97 | 1.59 | 84.88 | 30.33 | 0.16 | 14.29 | -5.88 | 19.10 | 31.18 | 24.19 | 21.45 | 34.65 | 9.77 | 40.00 | 10.0 | -60.0 | 60.00 | -5.71 | 1180.0 | 24.64 | -3.75 | -7.85 |
| 20Q3 (7) | 17.96 | 274.95 | -30.36 | 2.63 | 117.0 | -73.99 | 6.89 | 150.7 | -35.49 | 5.99 | 156.83 | -30.59 | 1.01 | 201.0 | -45.41 | 0.86 | 208.86 | -43.79 | 0.14 | 75.0 | -22.22 | 14.56 | 0 | -11.76 | 15.93 | -27.09 | -21.68 | 36.36 | -68.83 | -61.9 | 63.64 | 481.82 | 1300.0 | 25.60 | 0 | 11.21 |
| 20Q2 (6) | 4.79 | -80.37 | -81.11 | -15.47 | -255.01 | -247.05 | -13.59 | -227.01 | -203.66 | -10.54 | -225.93 | -198.05 | -1.00 | -155.56 | -142.74 | -0.79 | -153.74 | -140.93 | 0.08 | -52.94 | -55.56 | -0.00 | -100.0 | -100.0 | 21.85 | -21.46 | -8.42 | 116.67 | 22.22 | 43.18 | -16.67 | -466.67 | -190.0 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 24.40 | -5.57 | -12.2 | 9.98 | 6.51 | -17.18 | 10.70 | 17.84 | -16.21 | 8.37 | 15.13 | -18.74 | 1.80 | 24.14 | -21.05 | 1.47 | 20.49 | -22.63 | 0.17 | 0.0 | -5.56 | 16.50 | 7.28 | -11.58 | 27.82 | 42.37 | 38.82 | 95.45 | -4.55 | 3.09 | 4.55 | 181.82 | -38.64 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 25.84 | 0.19 | 0.0 | 9.37 | -7.32 | 0.0 | 9.08 | -14.98 | 0.0 | 7.27 | -15.76 | 0.0 | 1.45 | -21.62 | 0.0 | 1.22 | -20.26 | 0.0 | 0.17 | -5.56 | 0.0 | 15.38 | -6.79 | 0.0 | 19.54 | -3.93 | 0.0 | 100.00 | 4.76 | 0.0 | -5.56 | -222.22 | 0.0 | 26.74 | 16.16 | 0.0 |
| 19Q3 (3) | 25.79 | 1.7 | 0.0 | 10.11 | -3.9 | 0.0 | 10.68 | -18.54 | 0.0 | 8.63 | -19.72 | 0.0 | 1.85 | -20.94 | 0.0 | 1.53 | -20.73 | 0.0 | 0.18 | 0.0 | 0.0 | 16.50 | -12.0 | 0.0 | 20.34 | -14.75 | 0.0 | 95.45 | 17.15 | 0.0 | 4.55 | -75.45 | 0.0 | 23.02 | 0.48 | 0.0 |
| 19Q2 (2) | 25.36 | -8.74 | 0.0 | 10.52 | -12.7 | 0.0 | 13.11 | 2.66 | 0.0 | 10.75 | 4.37 | 0.0 | 2.34 | 2.63 | 0.0 | 1.93 | 1.58 | 0.0 | 0.18 | 0.0 | 0.0 | 18.75 | 0.48 | 0.0 | 23.86 | 19.06 | 0.0 | 81.48 | -12.0 | 0.0 | 18.52 | 150.0 | 0.0 | 22.91 | -2.92 | 0.0 |
| 19Q1 (1) | 27.79 | 0.0 | 0.0 | 12.05 | 0.0 | 0.0 | 12.77 | 0.0 | 0.0 | 10.30 | 0.0 | 0.0 | 2.28 | 0.0 | 0.0 | 1.90 | 0.0 | 0.0 | 0.18 | 0.0 | 0.0 | 18.66 | 0.0 | 0.0 | 20.04 | 0.0 | 0.0 | 92.59 | 0.0 | 0.0 | 7.41 | 0.0 | 0.0 | 23.60 | 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) | 19.81 | -3.97 | 5.26 | -34.98 | 7.63 | 21.71 | 8.73 | 47.47 | 7.53 | 93.57 | 5.04 | 51.81 | 4.37 | 57.76 | 0.57 | -18.57 | 16.49 | 35.27 | 16.25 | -7.98 | 59.65 | -56.14 | 40.35 | 0 | 0.00 | 0 | 26.12 | 24.03 |
| 2022 (9) | 20.63 | -3.42 | 8.09 | -9.1 | 6.27 | 0.24 | 5.92 | -32.73 | 3.89 | -46.64 | 3.32 | -49.77 | 2.77 | -48.7 | 0.70 | -5.41 | 12.19 | -19.16 | 17.66 | -28.65 | 136.00 | 34.3 | -36.00 | 0 | 0.00 | 0 | 21.06 | -4.23 |
| 2021 (8) | 21.36 | 18.53 | 8.90 | 195.68 | 6.26 | -21.04 | 8.80 | 36.01 | 7.29 | 29.95 | 6.61 | 82.09 | 5.40 | 77.05 | 0.74 | 37.04 | 15.08 | 4.58 | 24.75 | 15.38 | 101.27 | 118.52 | -1.27 | 0 | 0.00 | 0 | 21.99 | -16.0 |
| 2020 (7) | 18.02 | -31.25 | 3.01 | -71.42 | 7.92 | 35.04 | 6.47 | -43.49 | 5.61 | -39.48 | 3.63 | -53.93 | 3.05 | -53.79 | 0.54 | -23.94 | 14.42 | -17.51 | 21.45 | 9.77 | 46.34 | -49.35 | 53.66 | 530.49 | 0.00 | 0 | 26.18 | 8.95 |
| 2019 (6) | 26.21 | 17.64 | 10.53 | 48.73 | 5.87 | -18.07 | 11.45 | 41.01 | 9.27 | 43.06 | 7.88 | 51.83 | 6.60 | 51.03 | 0.71 | 5.97 | 17.48 | 13.65 | 19.54 | -7.13 | 91.49 | 5.3 | 8.51 | -35.11 | 0.00 | 0 | 24.03 | -1.8 |
| 2018 (5) | 22.28 | 3.87 | 7.08 | 25.98 | 7.16 | 6.82 | 8.12 | 16.0 | 6.48 | 8.54 | 5.19 | 17.42 | 4.37 | 14.7 | 0.67 | 4.69 | 15.38 | 12.34 | 21.04 | 14.1 | 86.89 | 9.16 | 13.11 | -35.74 | 0.09 | -1.23 | 24.47 | -3.17 |
| 2017 (4) | 21.45 | -4.92 | 5.62 | -26.15 | 6.70 | 2.21 | 7.00 | -15.05 | 5.97 | -12.85 | 4.42 | -10.16 | 3.81 | -12.61 | 0.64 | 0.0 | 13.69 | -8.79 | 18.44 | 35.89 | 79.59 | -12.76 | 20.41 | 190.82 | 0.09 | 0 | 25.27 | 0.76 |
| 2016 (3) | 22.56 | 2.87 | 7.61 | -16.74 | 6.56 | 11.08 | 8.24 | -16.35 | 6.85 | -14.59 | 4.92 | -23.13 | 4.36 | -21.58 | 0.64 | -7.25 | 15.01 | -5.48 | 13.57 | 11.23 | 91.23 | -2.26 | 7.02 | 5.26 | 0.00 | 0 | 25.08 | 12.37 |
| 2015 (2) | 21.93 | 2.43 | 9.14 | -6.54 | 5.91 | -6.52 | 9.85 | -8.54 | 8.02 | -10.09 | 6.40 | -10.36 | 5.56 | -9.45 | 0.69 | 0.0 | 15.88 | -8.42 | 12.20 | -31.42 | 93.33 | 2.28 | 6.67 | -23.81 | 0.00 | 0 | 22.32 | 2.06 |
| 2014 (1) | 21.41 | 0 | 9.78 | 0 | 6.32 | -11.95 | 10.77 | 0 | 8.92 | 0 | 7.14 | 0 | 6.14 | 0 | 0.69 | 4.55 | 17.34 | 34.84 | 17.79 | 19.48 | 91.25 | 8.91 | 8.75 | -35.25 | 0.00 | 0 | 21.87 | 1.02 |
