- 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) | 4.58 | -23.67 | -4.78 | 1.81 | -42.54 | 13.84 | 0.99 | -85.9 | 28.57 | 0.90 | -86.13 | 40.62 | 0.38 | -86.85 | 18.75 | 0.33 | -82.07 | 22.22 | 0.25 | -7.41 | -16.67 | 1.73 | -77.56 | 30.08 | 59.81 | -13.53 | -13.26 | 188.89 | 325.0 | -5.56 | -83.33 | -252.03 | 21.57 | 1.13 | -23.65 | 9.71 |
| 23Q3 (19) | 6.00 | 24.22 | 4.53 | 3.15 | 75.0 | 1.94 | 7.02 | 166.92 | -28.66 | 6.49 | 197.71 | -31.25 | 2.89 | 204.21 | -35.06 | 1.84 | 178.79 | -31.6 | 0.27 | 3.85 | -3.57 | 7.71 | 126.76 | -25.51 | 69.17 | 9.48 | 10.88 | 44.44 | -35.35 | 40.87 | 54.81 | 75.41 | -20.54 | 1.48 | 24.37 | 10.45 |
| 23Q2 (18) | 4.83 | 0.84 | 22.9 | 1.80 | 7.14 | 0.56 | 2.63 | 78.91 | 228.75 | 2.18 | 113.73 | 541.18 | 0.95 | 102.13 | 331.82 | 0.66 | 73.68 | 288.24 | 0.26 | -3.7 | -27.78 | 3.40 | 53.85 | 195.65 | 63.18 | -17.69 | -18.4 | 68.75 | -39.84 | -68.49 | 31.25 | 318.75 | 125.46 | 1.19 | -16.2 | 30.77 |
| 23Q1 (17) | 4.79 | -0.42 | 8.62 | 1.68 | 5.66 | -7.18 | 1.47 | 90.91 | -38.24 | 1.02 | 59.38 | -49.25 | 0.47 | 46.87 | -59.83 | 0.38 | 40.74 | -48.65 | 0.27 | -10.0 | -22.86 | 2.21 | 66.17 | -18.15 | 76.76 | 11.33 | 5.12 | 114.29 | -42.86 | 50.76 | -14.29 | 86.55 | -159.05 | 1.42 | 37.86 | 29.09 |
| 22Q4 (16) | 4.81 | -16.2 | 8.82 | 1.59 | -48.54 | -28.7 | 0.77 | -92.17 | -76.09 | 0.64 | -93.22 | -76.47 | 0.32 | -92.81 | -81.82 | 0.27 | -89.96 | -75.89 | 0.30 | 7.14 | -25.0 | 1.33 | -87.15 | -62.54 | 68.95 | 10.53 | 10.78 | 200.00 | 533.9 | 190.0 | -106.25 | -254.02 | -442.36 | 1.03 | -23.13 | 19.77 |
| 22Q3 (15) | 5.74 | 46.06 | 45.69 | 3.09 | 72.63 | 41.74 | 9.84 | 1130.0 | 75.4 | 9.44 | 2676.47 | 83.3 | 4.45 | 1922.73 | 21.25 | 2.69 | 1482.35 | 22.27 | 0.28 | -22.22 | -33.33 | 10.35 | 800.0 | 74.24 | 62.38 | -19.44 | -4.35 | 31.55 | -85.54 | -18.72 | 68.98 | 156.21 | 12.75 | 1.34 | 47.25 | 41.05 |
| 22Q2 (14) | 3.93 | -10.88 | -11.09 | 1.79 | -1.1 | -22.84 | 0.80 | -66.39 | -64.76 | 0.34 | -83.08 | -81.22 | 0.22 | -81.2 | -85.14 | 0.17 | -77.03 | -81.11 | 0.36 | 2.86 | -23.4 | 1.15 | -57.41 | -54.72 | 77.43 | 6.04 | 2.53 | 218.18 | 187.81 | 111.67 | -122.73 | -607.27 | -7877.27 | 0.91 | -17.27 | -2.15 |
| 22Q1 (13) | 4.41 | -0.23 | -13.19 | 1.81 | -18.83 | -27.31 | 2.38 | -26.09 | -13.77 | 2.01 | -26.1 | -11.06 | 1.17 | -33.52 | -25.48 | 0.74 | -33.93 | -26.0 | 0.35 | -12.5 | -18.6 | 2.70 | -23.94 | -12.05 | 73.02 | 17.32 | 5.6 | 75.81 | 9.92 | -15.2 | 24.19 | -22.04 | 166.13 | 1.10 | 27.91 | -7.56 |
| 21Q4 (12) | 4.42 | 12.18 | -22.18 | 2.23 | 2.29 | -10.44 | 3.22 | -42.6 | -38.67 | 2.72 | -47.18 | -43.22 | 1.76 | -52.04 | -42.3 | 1.12 | -49.09 | -42.86 | 0.40 | -4.76 | 0.0 | 3.55 | -40.24 | -36.49 | 62.24 | -4.57 | 11.68 | 68.97 | 77.67 | 44.44 | 31.03 | -49.28 | -40.61 | 0.86 | -9.47 | -27.12 |
| 21Q3 (11) | 3.94 | -10.86 | -42.4 | 2.18 | -6.03 | -31.66 | 5.61 | 147.14 | -19.16 | 5.15 | 184.53 | -22.56 | 3.67 | 147.97 | 8.26 | 2.20 | 144.44 | 3.29 | 0.42 | -10.64 | 35.48 | 5.94 | 133.86 | -19.73 | 65.22 | -13.64 | 4.77 | 38.82 | -62.34 | -14.9 | 61.18 | 4076.97 | 14.34 | 0.95 | 2.15 | -36.24 |
| 21Q2 (10) | 4.42 | -12.99 | -6.95 | 2.32 | -6.83 | 66.91 | 2.27 | -17.75 | 11.82 | 1.81 | -19.91 | 10.37 | 1.48 | -5.73 | 64.44 | 0.90 | -10.0 | 52.54 | 0.47 | 9.3 | 42.42 | 2.54 | -17.26 | 2.01 | 75.52 | 9.21 | 21.08 | 103.08 | 15.31 | 52.37 | -1.54 | -116.92 | -104.76 | 0.93 | -21.85 | 0 |
| 21Q1 (9) | 5.08 | -10.56 | 11.65 | 2.49 | 0.0 | 74.13 | 2.76 | -47.43 | 167.96 | 2.26 | -52.82 | 222.86 | 1.57 | -48.52 | 348.57 | 1.00 | -48.98 | 284.62 | 0.43 | 7.5 | 38.71 | 3.07 | -45.08 | 100.65 | 69.15 | 24.08 | 0.03 | 89.39 | 87.22 | -33.93 | 9.09 | -82.6 | 122.08 | 1.19 | 0.85 | -16.2 |
| 20Q4 (8) | 5.68 | -16.96 | 30.57 | 2.49 | -21.94 | 76.6 | 5.25 | -24.35 | 395.28 | 4.79 | -27.97 | 463.53 | 3.05 | -10.03 | 510.0 | 1.96 | -7.98 | 444.44 | 0.40 | 29.03 | 8.11 | 5.59 | -24.46 | 282.88 | 55.73 | -10.47 | -1.42 | 47.75 | 4.68 | -63.78 | 52.25 | -2.35 | 264.22 | 1.18 | -20.81 | 0 |
| 20Q3 (7) | 6.84 | 44.0 | 27.14 | 3.19 | 129.5 | 20.83 | 6.94 | 241.87 | 18.63 | 6.65 | 305.49 | 21.13 | 3.39 | 276.67 | -0.59 | 2.13 | 261.02 | -0.47 | 0.31 | -6.06 | -18.42 | 7.40 | 197.19 | 19.35 | 62.25 | -0.19 | 5.24 | 45.61 | -32.57 | 1.18 | 53.51 | 65.39 | -2.57 | 1.49 | 0 | 33.04 |
| 20Q2 (6) | 4.75 | 4.4 | 7.71 | 1.39 | -2.8 | -10.9 | 2.03 | 97.09 | 26.87 | 1.64 | 134.29 | 42.61 | 0.90 | 157.14 | 15.38 | 0.59 | 126.92 | 13.46 | 0.33 | 6.45 | -19.51 | 2.49 | 62.75 | 28.35 | 62.37 | -9.78 | -3.51 | 67.65 | -50.0 | -32.35 | 32.35 | 178.57 | 1032.35 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 4.55 | 4.6 | 1.79 | 1.43 | 1.42 | -18.75 | 1.03 | -2.83 | -51.18 | 0.70 | -17.65 | -58.33 | 0.35 | -30.0 | -70.59 | 0.26 | -27.78 | -65.79 | 0.31 | -16.22 | -26.19 | 1.53 | 4.79 | -37.55 | 69.13 | 22.29 | 12.75 | 135.29 | 2.64 | 58.97 | -41.18 | -29.41 | -341.91 | 1.42 | 0 | 27.93 |
| 19Q4 (4) | 4.35 | -19.14 | 0.0 | 1.41 | -46.59 | 0.0 | 1.06 | -81.88 | 0.0 | 0.85 | -84.52 | 0.0 | 0.50 | -85.34 | 0.0 | 0.36 | -83.18 | 0.0 | 0.37 | -2.63 | 0.0 | 1.46 | -76.45 | 0.0 | 56.53 | -4.43 | 0.0 | 131.82 | 192.4 | 0.0 | -31.82 | -157.94 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 5.38 | 22.0 | 0.0 | 2.64 | 69.23 | 0.0 | 5.85 | 265.62 | 0.0 | 5.49 | 377.39 | 0.0 | 3.41 | 337.18 | 0.0 | 2.14 | 311.54 | 0.0 | 0.38 | -7.32 | 0.0 | 6.20 | 219.59 | 0.0 | 59.15 | -8.49 | 0.0 | 45.08 | -54.92 | 0.0 | 54.92 | 1822.13 | 0.0 | 1.12 | 14.29 | 0.0 |
| 19Q2 (2) | 4.41 | -1.34 | 0.0 | 1.56 | -11.36 | 0.0 | 1.60 | -24.17 | 0.0 | 1.15 | -31.55 | 0.0 | 0.78 | -34.45 | 0.0 | 0.52 | -31.58 | 0.0 | 0.41 | -2.38 | 0.0 | 1.94 | -20.82 | 0.0 | 64.64 | 5.43 | 0.0 | 100.00 | 17.5 | 0.0 | 2.86 | -83.21 | 0.0 | 0.98 | -11.71 | 0.0 |
| 19Q1 (1) | 4.47 | 0.0 | 0.0 | 1.76 | 0.0 | 0.0 | 2.11 | 0.0 | 0.0 | 1.68 | 0.0 | 0.0 | 1.19 | 0.0 | 0.0 | 0.76 | 0.0 | 0.0 | 0.42 | 0.0 | 0.0 | 2.45 | 0.0 | 0.0 | 61.31 | 0.0 | 0.0 | 85.11 | 0.0 | 0.0 | 17.02 | 0.0 | 0.0 | 1.11 | 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) | 5.06 | 9.29 | 2.12 | 4.95 | 0.23 | 16.02 | 3.06 | -1.61 | 2.67 | -3.26 | 4.57 | -23.32 | 3.20 | -16.67 | 1.04 | -20.61 | 3.80 | 7.04 | 59.81 | -13.26 | 69.43 | 6.76 | 30.57 | -12.58 | 0.07 | -3.64 | 1.31 | 21.3 |
| 2022 (9) | 4.63 | 4.28 | 2.02 | -12.17 | 0.20 | 15.84 | 3.11 | -10.37 | 2.76 | -7.69 | 5.96 | -27.49 | 3.84 | -27.82 | 1.31 | -23.84 | 3.55 | -6.08 | 68.95 | 10.78 | 65.03 | -2.18 | 34.97 | 3.5 | 0.07 | -17.01 | 1.08 | 11.34 |
| 2021 (8) | 4.44 | -18.68 | 2.30 | 7.48 | 0.17 | -29.8 | 3.47 | -10.8 | 2.99 | -15.06 | 8.22 | 15.29 | 5.32 | 12.47 | 1.72 | 32.31 | 3.78 | -12.7 | 62.24 | 11.68 | 66.49 | 20.29 | 33.78 | -25.08 | 0.09 | -43.02 | 0.97 | -28.15 |
| 2020 (7) | 5.46 | 17.42 | 2.14 | 16.3 | 0.24 | 14.66 | 3.89 | 47.91 | 3.52 | 55.07 | 7.13 | 21.26 | 4.73 | 26.47 | 1.30 | -17.72 | 4.33 | 44.82 | 55.73 | -1.42 | 55.27 | -20.94 | 45.09 | 49.86 | 0.15 | 4.19 | 1.35 | 25.0 |
| 2019 (6) | 4.65 | 7.64 | 1.84 | -11.96 | 0.21 | 45.41 | 2.63 | -2.95 | 2.27 | 1.34 | 5.88 | -18.9 | 3.74 | -10.1 | 1.58 | -10.73 | 2.99 | -0.66 | 56.53 | -22.25 | 69.91 | -9.08 | 30.09 | 30.22 | 0.14 | -4.74 | 1.08 | 9.09 |
| 2018 (5) | 4.32 | -7.49 | 2.09 | -6.28 | 0.14 | -2.3 | 2.71 | 7.97 | 2.24 | 5.66 | 7.25 | -6.57 | 4.16 | -0.24 | 1.77 | -4.32 | 3.01 | 7.12 | 72.71 | -22.98 | 76.89 | -13.24 | 23.11 | 110.43 | 0.15 | 0 | 0.99 | 8.79 |
| 2017 (4) | 4.67 | -7.16 | 2.23 | -7.47 | 0.15 | -12.27 | 2.51 | -9.71 | 2.12 | -8.62 | 7.76 | -5.02 | 4.17 | -6.92 | 1.85 | 1.09 | 2.81 | -9.65 | 94.40 | -6.17 | 88.63 | 2.23 | 10.98 | -17.48 | 0.00 | 0 | 0.91 | -8.08 |
| 2016 (3) | 5.03 | 11.78 | 2.41 | 28.88 | 0.17 | -4.59 | 2.78 | 6.92 | 2.32 | 4.5 | 8.17 | 0.49 | 4.48 | -1.75 | 1.83 | -5.67 | 3.11 | 5.78 | 100.61 | 20.51 | 86.69 | 20.35 | 13.31 | -53.13 | 0.00 | 0 | 0.99 | 2.06 |
| 2015 (2) | 4.50 | 13.92 | 1.87 | 10.0 | 0.18 | 15.37 | 2.60 | 33.33 | 2.22 | 35.37 | 8.13 | 15.32 | 4.56 | 20.0 | 1.94 | -9.35 | 2.94 | 29.52 | 83.49 | -9.42 | 72.03 | -17.04 | 28.39 | 115.55 | 0.00 | 0 | 0.97 | 14.12 |
| 2014 (1) | 3.95 | 0 | 1.70 | 0 | 0.15 | 2.07 | 1.95 | 0 | 1.64 | 0 | 7.05 | 0 | 3.80 | 0 | 2.14 | 0.47 | 2.27 | 26.82 | 92.17 | -15.91 | 86.83 | -11.36 | 13.17 | 868.05 | 0.00 | 0 | 0.85 | 4.94 |
