- 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) | 21.46 | 10.56 | -4.37 | 0.99 | 73.68 | -67.65 | -0.71 | -125.91 | -121.85 | -0.27 | -111.74 | -110.11 | -0.06 | -110.91 | -110.17 | 0.10 | -80.77 | -81.13 | 0.15 | -6.25 | 7.14 | 8.85 | -24.94 | -32.34 | 49.04 | 0.29 | -0.16 | -135.71 | -744.64 | -244.92 | 235.71 | 198.57 | 3612.5 | 19.53 | 3.12 | 4.83 |
| 23Q3 (19) | 19.41 | -3.0 | -10.88 | 0.57 | 1050.0 | -84.84 | 2.74 | 201.1 | -47.61 | 2.30 | 243.28 | -43.49 | 0.55 | 266.67 | -47.62 | 0.52 | 116.67 | -33.33 | 0.16 | 14.29 | 0.0 | 11.79 | 10.19 | -12.67 | 48.90 | -3.95 | -13.21 | 21.05 | 457.89 | -70.68 | 78.95 | -25.44 | 179.9 | 18.94 | -10.66 | 3.44 |
| 23Q2 (18) | 20.01 | -2.77 | -12.01 | -0.06 | -102.17 | -101.32 | 0.91 | -63.75 | -86.21 | 0.67 | -67.48 | -87.59 | 0.15 | -66.67 | -89.58 | 0.24 | -44.19 | -75.76 | 0.14 | -6.67 | -17.65 | 10.70 | -11.2 | -26.41 | 50.91 | 0.81 | -16.62 | -5.88 | -105.34 | -108.57 | 105.88 | 1137.65 | 237.5 | 21.20 | 9.39 | 16.74 |
| 23Q1 (17) | 20.58 | -8.29 | -9.54 | 2.76 | -9.8 | -49.82 | 2.51 | -22.77 | -59.97 | 2.06 | -22.85 | -60.23 | 0.45 | -23.73 | -67.63 | 0.43 | -18.87 | -55.21 | 0.15 | 7.14 | -11.76 | 12.05 | -7.87 | -13.5 | 50.50 | 2.81 | -12.28 | 110.20 | 17.68 | 25.12 | -10.20 | -260.71 | -181.1 | 19.38 | 4.03 | 17.17 |
| 22Q4 (16) | 22.44 | 3.03 | -1.58 | 3.06 | -18.62 | 4.79 | 3.25 | -37.86 | -10.96 | 2.67 | -34.4 | -20.06 | 0.59 | -43.81 | -32.95 | 0.53 | -32.05 | -17.19 | 0.14 | -12.5 | -17.65 | 13.08 | -3.11 | 13.84 | 49.12 | -12.82 | -11.08 | 93.65 | 30.44 | 18.08 | 6.35 | -77.49 | -67.51 | 18.63 | 1.75 | 9.46 |
| 22Q3 (15) | 21.78 | -4.22 | -12.25 | 3.76 | -17.0 | -32.5 | 5.23 | -20.76 | -17.25 | 4.07 | -24.63 | -17.78 | 1.05 | -27.08 | -13.93 | 0.78 | -21.21 | -9.3 | 0.16 | -5.88 | 0.0 | 13.50 | -7.15 | -8.85 | 56.34 | -7.73 | 4.39 | 71.79 | 4.62 | -18.2 | 28.21 | -10.1 | 145.03 | 18.31 | 0.83 | -1.03 |
| 22Q2 (14) | 22.74 | -0.04 | -5.45 | 4.53 | -17.64 | -42.22 | 6.60 | 5.26 | -28.42 | 5.40 | 4.25 | -26.73 | 1.44 | 3.6 | -27.27 | 0.99 | 3.13 | -25.56 | 0.17 | 0.0 | 0.0 | 14.54 | 4.38 | -15.47 | 61.06 | 6.06 | 9.7 | 68.63 | -22.08 | -19.06 | 31.37 | 149.33 | 106.3 | 18.16 | 9.79 | 9.27 |
| 22Q1 (13) | 22.75 | -0.22 | -7.67 | 5.50 | 88.36 | -29.12 | 6.27 | 71.78 | -7.93 | 5.18 | 55.09 | -1.89 | 1.39 | 57.95 | -1.42 | 0.96 | 50.0 | -1.03 | 0.17 | 0.0 | 0.0 | 13.93 | 21.24 | -7.63 | 57.57 | 4.22 | -2.67 | 88.08 | 11.06 | -22.87 | 12.58 | -35.61 | 188.65 | 16.54 | -2.82 | 1.53 |
| 21Q4 (12) | 22.80 | -8.14 | 0.4 | 2.92 | -47.58 | -51.5 | 3.65 | -42.25 | -34.47 | 3.34 | -32.53 | -12.79 | 0.88 | -27.87 | -10.2 | 0.64 | -25.58 | -7.25 | 0.17 | 6.25 | 6.25 | 11.49 | -22.42 | -22.94 | 55.24 | 2.35 | -4.23 | 79.31 | -9.64 | -26.31 | 19.54 | 69.76 | 356.19 | 17.02 | -8.0 | -2.41 |
| 21Q3 (11) | 24.82 | 3.2 | 38.04 | 5.57 | -28.95 | 18666.67 | 6.32 | -31.45 | 431.09 | 4.95 | -32.84 | 292.86 | 1.22 | -38.38 | 320.69 | 0.86 | -35.34 | 230.77 | 0.16 | -5.88 | 14.29 | 14.81 | -13.9 | 30.71 | 53.97 | -3.04 | -10.62 | 87.77 | 3.51 | 2030.94 | 11.51 | -24.31 | -88.99 | 18.50 | 11.31 | 2.38 |
| 21Q2 (10) | 24.05 | -2.39 | 21.34 | 7.84 | 1.03 | 1385.25 | 9.22 | 35.39 | 234.06 | 7.37 | 39.58 | 230.49 | 1.98 | 40.43 | 360.47 | 1.33 | 37.11 | 280.0 | 0.17 | 0.0 | 54.55 | 17.20 | 14.06 | 12.93 | 55.66 | -5.9 | -17.69 | 84.79 | -25.75 | 495.7 | 15.21 | 207.14 | -87.48 | 16.62 | 2.03 | 0 |
| 21Q1 (9) | 24.64 | 8.5 | 23.69 | 7.76 | 28.9 | 102.08 | 6.81 | 22.26 | 86.58 | 5.28 | 37.86 | 79.59 | 1.41 | 43.88 | 69.88 | 0.97 | 40.58 | 59.02 | 0.17 | 6.25 | 0.0 | 15.08 | 1.14 | 23.1 | 59.15 | 2.55 | -14.93 | 114.19 | 6.1 | 8.94 | -14.19 | -86.09 | -194.52 | 16.29 | -6.59 | 0 |
| 20Q4 (8) | 22.71 | 26.31 | 8.61 | 6.02 | 20166.67 | 101.34 | 5.57 | 368.07 | 96.82 | 3.83 | 203.97 | 118.86 | 0.98 | 237.93 | 104.17 | 0.69 | 165.38 | 72.5 | 0.16 | 14.29 | 0.0 | 14.91 | 31.6 | 26.79 | 57.68 | -4.47 | -14.41 | 107.63 | 2467.8 | 1.2 | -7.63 | -107.3 | -60.17 | 17.44 | -3.49 | -1.02 |
| 20Q3 (7) | 17.98 | -9.28 | -14.95 | -0.03 | 95.08 | -100.97 | 1.19 | -56.88 | -74.63 | 1.26 | -43.5 | -66.49 | 0.29 | -32.56 | -73.39 | 0.26 | -25.71 | -65.33 | 0.14 | 27.27 | -12.5 | 11.33 | -25.61 | -15.07 | 60.38 | -10.71 | -18.87 | -4.55 | 78.79 | -106.94 | 104.55 | -13.9 | 210.81 | 18.07 | 0 | 4.21 |
| 20Q2 (6) | 19.82 | -0.5 | -11.79 | -0.61 | -115.89 | -111.98 | 2.76 | -24.38 | -44.69 | 2.23 | -24.15 | -42.82 | 0.43 | -48.19 | -63.56 | 0.35 | -42.62 | -56.79 | 0.11 | -35.29 | -35.29 | 15.23 | 24.33 | 16.44 | 67.62 | -2.75 | -14.58 | -21.43 | -120.44 | -121.09 | 121.43 | 2619.64 | 7567.86 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 19.92 | -4.73 | -12.44 | 3.84 | 28.43 | -36.63 | 3.65 | 28.98 | -47.63 | 2.94 | 68.0 | -46.45 | 0.83 | 72.92 | -47.47 | 0.61 | 52.5 | -41.9 | 0.17 | 6.25 | 6.25 | 12.25 | 4.17 | -20.97 | 69.53 | 3.18 | -6.61 | 104.82 | -1.44 | 20.54 | -4.82 | -1.2 | -136.95 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 20.91 | -1.09 | 0.0 | 2.99 | -3.24 | 0.0 | 2.83 | -39.66 | 0.0 | 1.75 | -53.46 | 0.0 | 0.48 | -55.96 | 0.0 | 0.40 | -46.67 | 0.0 | 0.16 | 0.0 | 0.0 | 11.76 | -11.84 | 0.0 | 67.39 | -9.45 | 0.0 | 106.35 | 62.48 | 0.0 | -4.76 | -114.16 | 0.0 | 17.62 | 1.61 | 0.0 |
| 19Q3 (3) | 21.14 | -5.92 | 0.0 | 3.09 | -39.29 | 0.0 | 4.69 | -6.01 | 0.0 | 3.76 | -3.59 | 0.0 | 1.09 | -7.63 | 0.0 | 0.75 | -7.41 | 0.0 | 0.16 | -5.88 | 0.0 | 13.34 | 1.99 | 0.0 | 74.42 | -5.99 | 0.0 | 65.45 | -35.59 | 0.0 | 33.64 | 2168.64 | 0.0 | 17.34 | -2.97 | 0.0 |
| 19Q2 (2) | 22.47 | -1.23 | 0.0 | 5.09 | -16.01 | 0.0 | 4.99 | -28.41 | 0.0 | 3.90 | -28.96 | 0.0 | 1.18 | -25.32 | 0.0 | 0.81 | -22.86 | 0.0 | 0.17 | 6.25 | 0.0 | 13.08 | -15.61 | 0.0 | 79.16 | 6.33 | 0.0 | 101.63 | 16.87 | 0.0 | -1.63 | -112.47 | 0.0 | 17.87 | -0.67 | 0.0 |
| 19Q1 (1) | 22.75 | 0.0 | 0.0 | 6.06 | 0.0 | 0.0 | 6.97 | 0.0 | 0.0 | 5.49 | 0.0 | 0.0 | 1.58 | 0.0 | 0.0 | 1.05 | 0.0 | 0.0 | 0.16 | 0.0 | 0.0 | 15.50 | 0.0 | 0.0 | 74.45 | 0.0 | 0.0 | 86.96 | 0.0 | 0.0 | 13.04 | 0.0 | 0.0 | 17.99 | 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) | 20.35 | -9.31 | 1.06 | -75.23 | 7.67 | 6.74 | 1.39 | -74.45 | 1.21 | -72.56 | 1.09 | -75.11 | 1.30 | -60.61 | 0.60 | -7.69 | 10.86 | -21.36 | 49.04 | -0.16 | 76.15 | -3.27 | 23.85 | 12.09 | 0.99 | -13.71 | 19.74 | 10.53 |
| 2022 (9) | 22.44 | -6.73 | 4.28 | -28.79 | 7.19 | -1.31 | 5.44 | -16.18 | 4.41 | -15.84 | 4.38 | -20.51 | 3.30 | -13.39 | 0.65 | -2.99 | 13.81 | -5.67 | 49.12 | -11.08 | 78.72 | -15.02 | 21.28 | 182.33 | 1.15 | 40.11 | 17.86 | 4.51 |
| 2021 (8) | 24.06 | 19.17 | 6.01 | 128.52 | 7.28 | -16.68 | 6.49 | 90.32 | 5.24 | 98.48 | 5.51 | 122.18 | 3.81 | 99.48 | 0.67 | 15.52 | 14.64 | 9.66 | 55.24 | -4.23 | 92.63 | 19.74 | 7.54 | -66.71 | 0.82 | -9.56 | 17.09 | -9.67 |
| 2020 (7) | 20.19 | -7.51 | 2.63 | -39.26 | 8.74 | 20.12 | 3.41 | -30.27 | 2.64 | -29.41 | 2.48 | -42.99 | 1.91 | -38.39 | 0.58 | -14.71 | 13.35 | -0.52 | 57.68 | -14.41 | 77.36 | -12.68 | 22.64 | 98.55 | 0.91 | 1.31 | 18.92 | 6.83 |
| 2019 (6) | 21.83 | -3.02 | 4.33 | -17.84 | 7.28 | 12.0 | 4.89 | -9.44 | 3.74 | -11.79 | 4.35 | -14.87 | 3.10 | -10.92 | 0.68 | -2.86 | 13.42 | 3.31 | 67.39 | -10.3 | 88.60 | -9.13 | 11.40 | 394.15 | 0.90 | -5.26 | 17.71 | 0.68 |
| 2018 (5) | 22.51 | 4.75 | 5.27 | 33.42 | 6.50 | 0.28 | 5.40 | 4.85 | 4.24 | 4.95 | 5.11 | 10.61 | 3.48 | 10.48 | 0.70 | 4.48 | 12.99 | 3.67 | 75.13 | 6.16 | 97.50 | 27.13 | 2.31 | -90.1 | 0.95 | 0 | 17.59 | -2.06 |
| 2017 (4) | 21.49 | -3.24 | 3.95 | -20.2 | 6.48 | 7.79 | 5.15 | -15.02 | 4.04 | -19.36 | 4.62 | -22.22 | 3.15 | -19.02 | 0.67 | -4.29 | 12.53 | -2.19 | 70.77 | 0.43 | 76.69 | -5.9 | 23.31 | 27.18 | 0.00 | 0 | 17.96 | 1.47 |
| 2016 (3) | 22.21 | -7.27 | 4.95 | -29.79 | 6.01 | 14.63 | 6.06 | -20.26 | 5.01 | -16.64 | 5.94 | -18.63 | 3.89 | -17.76 | 0.70 | -4.11 | 12.81 | -4.55 | 70.47 | 4.34 | 81.50 | -12.2 | 18.32 | 155.49 | 0.00 | 0 | 17.70 | 2.55 |
| 2015 (2) | 23.95 | 5.46 | 7.05 | 3.07 | 5.24 | 18.77 | 7.60 | 0.53 | 6.01 | 1.18 | 7.30 | -6.53 | 4.73 | -8.86 | 0.73 | -9.88 | 13.42 | 7.1 | 67.54 | 4.79 | 92.83 | 2.56 | 7.17 | -24.44 | 0.00 | 0 | 17.26 | 9.66 |
| 2014 (1) | 22.71 | 0 | 6.84 | 0 | 4.41 | -7.18 | 7.56 | 0 | 5.94 | 0 | 7.81 | 0 | 5.19 | 0 | 0.81 | 2.53 | 12.53 | -6.35 | 64.45 | 9.0 | 90.51 | 2.78 | 9.49 | -20.49 | 0.00 | 0 | 15.74 | -1.25 |
