- 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) | 23.50 | -20.42 | -24.1 | -23.14 | -684.34 | -264.23 | -26.85 | -1591.67 | -259.25 | -20.10 | -1022.02 | -238.91 | -2.01 | -674.29 | -141.96 | -0.90 | -364.71 | -136.73 | 0.05 | -37.5 | -68.75 | -8.39 | -167.12 | -139.02 | 91.46 | 5.56 | -11.2 | 86.84 | -61.4 | 4.99 | 13.16 | 110.53 | -18.02 | 33.63 | 106.95 | 243.16 |
| 23Q3 (19) | 29.53 | 12.8 | -17.03 | 3.96 | 241.38 | -82.55 | 1.80 | -87.5 | -92.36 | 2.18 | -75.06 | -88.0 | 0.35 | -78.79 | -95.47 | 0.34 | -65.31 | -91.01 | 0.08 | -20.0 | -60.0 | 12.50 | -46.67 | -54.36 | 86.64 | -8.89 | -13.43 | 225.00 | 2825.0 | 133.33 | -125.00 | -235.42 | -3600.0 | 16.25 | -0.67 | 63.81 |
| 23Q2 (18) | 26.18 | -19.91 | -35.13 | 1.16 | -92.15 | -95.65 | 14.40 | -12.2 | -44.55 | 8.74 | -32.87 | -54.81 | 1.65 | -47.12 | -80.9 | 0.98 | -42.69 | -76.04 | 0.10 | -16.67 | -52.38 | 23.44 | -0.51 | -20.57 | 95.09 | 5.99 | -18.13 | 7.69 | -91.4 | -92.5 | 92.31 | 776.92 | 3769.23 | 16.36 | 14.73 | 56.41 |
| 23Q1 (17) | 32.69 | 5.59 | 10.7 | 14.77 | 4.83 | -20.08 | 16.40 | -2.73 | -26.72 | 13.02 | -10.02 | -26.73 | 3.12 | -34.86 | -54.19 | 1.71 | -30.2 | -46.89 | 0.12 | -25.0 | -33.33 | 23.56 | 9.58 | -9.8 | 89.72 | -12.88 | -20.48 | 89.47 | 8.17 | 8.31 | 10.53 | -34.41 | -39.47 | 14.26 | 45.51 | 46.26 |
| 22Q4 (16) | 30.96 | -13.01 | 9.32 | 14.09 | -37.9 | -12.86 | 16.86 | -28.41 | 14.54 | 14.47 | -20.36 | 20.18 | 4.79 | -37.95 | -14.16 | 2.45 | -35.19 | -8.58 | 0.16 | -20.0 | -27.27 | 21.50 | -21.5 | 21.06 | 102.99 | 2.91 | -13.84 | 82.72 | -14.22 | -25.2 | 16.05 | 349.38 | 270.52 | 9.80 | -1.21 | -3.26 |
| 22Q3 (15) | 35.59 | -11.82 | 28.9 | 22.69 | -14.86 | 29.88 | 23.55 | -9.32 | 36.92 | 18.17 | -6.05 | 36.82 | 7.72 | -10.65 | 49.9 | 3.78 | -7.58 | 39.48 | 0.20 | -4.76 | 0.0 | 27.39 | -7.18 | 34.46 | 100.08 | -13.84 | -3.68 | 96.43 | -5.94 | -4.72 | 3.57 | 241.96 | 396.43 | 9.92 | -5.16 | 14.42 |
| 22Q2 (14) | 40.36 | 36.67 | 40.33 | 26.65 | 44.21 | 34.19 | 25.97 | 16.04 | 34.21 | 19.34 | 8.84 | 24.77 | 8.64 | 26.87 | 40.95 | 4.09 | 27.02 | 14.25 | 0.21 | 16.67 | -8.7 | 29.51 | 12.98 | 31.04 | 116.15 | 2.94 | 44.12 | 102.52 | 24.1 | 0.38 | -2.52 | -114.47 | -18.24 | 10.46 | 7.28 | 21.49 |
| 22Q1 (13) | 29.53 | 4.27 | -4.43 | 18.48 | 14.29 | -3.8 | 22.38 | 52.04 | 14.77 | 17.77 | 47.59 | 12.4 | 6.81 | 22.04 | 45.82 | 3.22 | 20.15 | 12.2 | 0.18 | -18.18 | 0.0 | 26.12 | 47.07 | 10.3 | 112.83 | -5.61 | 78.16 | 82.61 | -25.3 | -16.14 | 17.39 | 284.78 | 1065.22 | 9.75 | -3.75 | -16.31 |
| 21Q4 (12) | 28.32 | 2.57 | 14.94 | 16.17 | -7.44 | 52.12 | 14.72 | -14.42 | 70.17 | 12.04 | -9.34 | 68.39 | 5.58 | 8.35 | 140.52 | 2.68 | -1.11 | 81.08 | 0.22 | 10.0 | 10.0 | 17.76 | -12.81 | 46.17 | 119.54 | 15.05 | 89.42 | 110.59 | 9.27 | -9.78 | -9.41 | -681.18 | 58.32 | 10.13 | 16.84 | -22.02 |
| 21Q3 (11) | 27.61 | -4.0 | 9.04 | 17.47 | -12.03 | 10.36 | 17.20 | -11.11 | 2.56 | 13.28 | -14.32 | -1.04 | 5.15 | -15.99 | 11.23 | 2.71 | -24.3 | -9.06 | 0.20 | -13.04 | -9.09 | 20.37 | -9.55 | 1.04 | 103.90 | 28.92 | 90.22 | 101.20 | -0.9 | 6.35 | -1.20 | 43.37 | -118.67 | 8.67 | 0.7 | -12.51 |
| 21Q2 (10) | 28.76 | -6.93 | 91.48 | 19.86 | 3.38 | 660.92 | 19.35 | -0.77 | -45.57 | 15.50 | -1.96 | -45.79 | 6.13 | 31.26 | -19.76 | 3.58 | 24.74 | -26.03 | 0.23 | 27.78 | 35.29 | 22.52 | -4.9 | -42.77 | 80.59 | 27.25 | 35.49 | 102.13 | 3.68 | 1344.38 | -2.13 | -242.55 | -102.31 | 8.61 | -26.09 | -30.45 |
| 21Q1 (9) | 30.90 | 25.41 | 29.4 | 19.21 | 80.71 | 63.63 | 19.50 | 125.43 | 57.77 | 15.81 | 121.12 | 60.02 | 4.67 | 101.29 | 103.04 | 2.87 | 93.92 | 93.92 | 0.18 | -10.0 | 28.57 | 23.68 | 94.9 | 39.71 | 63.33 | 0.35 | 6.12 | 98.51 | -19.64 | 2.03 | 1.49 | 106.61 | -56.72 | 11.65 | -10.32 | -14.9 |
| 20Q4 (8) | 24.64 | -2.69 | -2.72 | 10.63 | -32.85 | -6.26 | 8.65 | -48.42 | -0.92 | 7.15 | -46.72 | -0.28 | 2.32 | -49.89 | 8.92 | 1.48 | -50.34 | 10.45 | 0.20 | -9.09 | 11.11 | 12.15 | -39.73 | -0.74 | 63.11 | 15.54 | 1.91 | 122.58 | 28.81 | -3.42 | -22.58 | -450.0 | 26.61 | 12.99 | 31.08 | 0 |
| 20Q3 (7) | 25.32 | 68.58 | 9.61 | 15.83 | 506.51 | 81.75 | 16.77 | -52.83 | 134.55 | 13.42 | -53.06 | 161.09 | 4.63 | -39.4 | 221.53 | 2.98 | -38.43 | 234.83 | 0.22 | 29.41 | 37.5 | 20.16 | -48.77 | 84.11 | 54.62 | -8.17 | -22.97 | 95.16 | 1245.85 | -20.7 | 6.45 | -92.98 | 132.26 | 9.91 | -19.95 | -22.7 |
| 20Q2 (6) | 15.02 | -37.1 | -39.34 | 2.61 | -77.77 | -79.3 | 35.55 | 187.62 | 141.67 | 28.59 | 189.37 | 161.81 | 7.64 | 232.17 | 112.22 | 4.84 | 227.03 | 128.3 | 0.17 | 21.43 | -10.53 | 39.35 | 132.15 | 121.19 | 59.48 | -0.34 | -18.02 | 7.07 | -92.68 | -91.72 | 91.92 | 2565.66 | 530.3 | 12.38 | -9.57 | 14.74 |
| 20Q1 (5) | 23.88 | -5.72 | 4.37 | 11.74 | 3.53 | 111.91 | 12.36 | 41.58 | 152.76 | 9.88 | 37.8 | 152.04 | 2.30 | 7.98 | 144.68 | 1.48 | 10.45 | 146.67 | 0.14 | -22.22 | 0.0 | 16.95 | 38.48 | 92.83 | 59.68 | -3.63 | -22.38 | 96.55 | -23.93 | -10.88 | 3.45 | 111.21 | 120.69 | 13.69 | 0 | -4.0 |
| 19Q4 (4) | 25.33 | 9.65 | 0.0 | 11.34 | 30.2 | 0.0 | 8.73 | 22.1 | 0.0 | 7.17 | 39.49 | 0.0 | 2.13 | 47.92 | 0.0 | 1.34 | 50.56 | 0.0 | 0.18 | 12.5 | 0.0 | 12.24 | 11.78 | 0.0 | 61.93 | -12.66 | 0.0 | 126.92 | 5.77 | 0.0 | -30.77 | -53.85 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 23.10 | -6.7 | 0.0 | 8.71 | -30.93 | 0.0 | 7.15 | -51.39 | 0.0 | 5.14 | -52.93 | 0.0 | 1.44 | -60.0 | 0.0 | 0.89 | -58.02 | 0.0 | 0.16 | -15.79 | 0.0 | 10.95 | -38.45 | 0.0 | 70.91 | -2.26 | 0.0 | 120.00 | 40.49 | 0.0 | -20.00 | -237.14 | 0.0 | 12.82 | 18.81 | 0.0 |
| 19Q2 (2) | 24.76 | 8.22 | 0.0 | 12.61 | 127.62 | 0.0 | 14.71 | 200.82 | 0.0 | 10.92 | 178.57 | 0.0 | 3.60 | 282.98 | 0.0 | 2.12 | 253.33 | 0.0 | 0.19 | 35.71 | 0.0 | 17.79 | 102.39 | 0.0 | 72.55 | -5.64 | 0.0 | 85.42 | -21.15 | 0.0 | 14.58 | 187.5 | 0.0 | 10.79 | -24.33 | 0.0 |
| 19Q1 (1) | 22.88 | 0.0 | 0.0 | 5.54 | 0.0 | 0.0 | 4.89 | 0.0 | 0.0 | 3.92 | 0.0 | 0.0 | 0.94 | 0.0 | 0.0 | 0.60 | 0.0 | 0.0 | 0.14 | 0.0 | 0.0 | 8.79 | 0.0 | 0.0 | 76.89 | 0.0 | 0.0 | 108.33 | 0.0 | 0.0 | -16.67 | 0.0 | 0.0 | 14.26 | 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) | 28.85 | -16.35 | 3.08 | -85.29 | 8.04 | 129.41 | 6.25 | -72.21 | 4.57 | -74.03 | 3.22 | -88.67 | 2.18 | -84.16 | 0.36 | -53.25 | 16.28 | -38.45 | 91.46 | -11.2 | 50.00 | -46.3 | 51.61 | 649.91 | 0.07 | 8.64 | 18.08 | 80.62 |
| 2022 (9) | 34.49 | 20.09 | 20.94 | 16.33 | 3.50 | 12.15 | 22.49 | 29.18 | 17.60 | 26.35 | 28.43 | 30.89 | 13.76 | 21.13 | 0.77 | -4.94 | 26.45 | 27.41 | 102.99 | -13.84 | 93.12 | -9.9 | 6.88 | 0 | 0.07 | -2.58 | 10.01 | 3.84 |
| 2021 (8) | 28.72 | 27.3 | 18.00 | 69.65 | 3.12 | -9.37 | 17.41 | -1.92 | 13.93 | -2.59 | 21.72 | 29.98 | 11.36 | 9.13 | 0.81 | 12.5 | 20.76 | -3.4 | 119.54 | 89.42 | 103.34 | 73.02 | -3.34 | 0 | 0.07 | -34.68 | 9.64 | -20.13 |
| 2020 (7) | 22.56 | -6.43 | 10.61 | 7.83 | 3.45 | 11.63 | 17.75 | 91.68 | 14.30 | 102.26 | 16.71 | 107.32 | 10.41 | 108.2 | 0.72 | 7.46 | 21.49 | 67.89 | 63.11 | 1.91 | 59.73 | -44.0 | 40.27 | 0 | 0.11 | -41.49 | 12.07 | -1.47 |
| 2019 (6) | 24.11 | -6.19 | 9.84 | -9.23 | 3.09 | 40.23 | 9.26 | -33.38 | 7.07 | -33.99 | 8.06 | -48.3 | 5.00 | -31.88 | 0.67 | 3.08 | 12.80 | -23.99 | 61.93 | -18.64 | 106.67 | 36.81 | -6.67 | 0 | 0.18 | 7.15 | 12.25 | -5.77 |
| 2018 (5) | 25.70 | -5.96 | 10.84 | -32.38 | 2.20 | 28.35 | 13.90 | 12.46 | 10.71 | 5.73 | 15.59 | -17.99 | 7.34 | -7.56 | 0.65 | -13.33 | 16.84 | 13.94 | 76.12 | -58.79 | 77.97 | -39.8 | 22.03 | 0 | 0.17 | -6.7 | 13.00 | 34.3 |
| 2017 (4) | 27.33 | 0.89 | 16.03 | 25.23 | 1.72 | -21.94 | 12.36 | 12.06 | 10.13 | 7.54 | 19.01 | 34.35 | 7.94 | 14.08 | 0.75 | 7.14 | 14.78 | 5.35 | 184.71 | 62.15 | 129.52 | 11.47 | -29.52 | 0 | 0.19 | 0 | 9.68 | -23.9 |
| 2016 (3) | 27.09 | 19.29 | 12.80 | 60.2 | 2.20 | 24.1 | 11.03 | 14.3 | 9.42 | 17.02 | 14.15 | 11.07 | 6.96 | 4.98 | 0.70 | -9.09 | 14.03 | 15.19 | 113.91 | -2.66 | 116.19 | 40.4 | -16.19 | 0 | 0.00 | 0 | 12.72 | 1.92 |
| 2015 (2) | 22.71 | -1.56 | 7.99 | 6.68 | 1.77 | 3.04 | 9.65 | 19.58 | 8.05 | 11.96 | 12.74 | 19.62 | 6.63 | 16.11 | 0.77 | 4.05 | 12.18 | 15.12 | 117.02 | 24.15 | 82.76 | -11.43 | 17.24 | 162.93 | 0.00 | 0 | 12.48 | -9.17 |
| 2014 (1) | 23.07 | 0 | 7.49 | 0 | 1.72 | -13.04 | 8.07 | 0 | 7.19 | 0 | 10.65 | 0 | 5.71 | 0 | 0.74 | 4.23 | 10.58 | 24.91 | 94.26 | -13.79 | 93.44 | -1.51 | 6.56 | 27.87 | 0.00 | 0 | 13.74 | -0.07 |
