- 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) | 15.19 | -4.04 | -2.88 | 5.29 | -2.4 | -16.3 | 9.27 | 78.96 | 39.82 | 7.20 | 142.42 | 31.63 | 3.17 | 145.74 | 14.44 | 1.49 | 109.86 | 14.62 | 0.18 | 5.88 | -10.0 | 13.86 | 37.09 | 26.81 | 139.58 | -3.32 | -6.19 | 57.28 | -45.17 | -39.91 | 42.72 | 1056.89 | 813.11 | 12.66 | -12.08 | 14.36 |
| 23Q3 (19) | 15.83 | 8.65 | -0.5 | 5.42 | 24.88 | -25.96 | 5.18 | 43.09 | -38.7 | 2.97 | 18.33 | -47.25 | 1.29 | 24.04 | -57.28 | 0.71 | 16.39 | -47.79 | 0.17 | 6.25 | -19.05 | 10.11 | 15.81 | -17.13 | 144.37 | -5.57 | -6.53 | 104.46 | -13.34 | 20.9 | -4.46 | 78.27 | -133.93 | 14.40 | 0.63 | 18.71 |
| 23Q2 (18) | 14.57 | -13.27 | -21.5 | 4.34 | -33.33 | -54.89 | 3.62 | -42.17 | -60.57 | 2.51 | -39.95 | -63.46 | 1.04 | -39.53 | -72.77 | 0.61 | -30.68 | -61.64 | 0.16 | 0.0 | -23.81 | 8.73 | -23.02 | -32.01 | 152.88 | -3.5 | -7.31 | 120.55 | 16.02 | 15.03 | -20.55 | -426.03 | -328.08 | 14.31 | -5.29 | 11.1 |
| 23Q1 (17) | 16.80 | 7.42 | 10.31 | 6.51 | 3.01 | -17.59 | 6.26 | -5.58 | -17.74 | 4.18 | -23.58 | -30.45 | 1.72 | -37.91 | -55.44 | 0.88 | -32.31 | -43.95 | 0.16 | -20.0 | -30.43 | 11.34 | 3.75 | 5.68 | 158.43 | 6.48 | -10.83 | 103.91 | 9.01 | 0.46 | -3.91 | -183.5 | -1.13 | 15.11 | 36.5 | 34.79 |
| 22Q4 (16) | 15.64 | -1.7 | -4.81 | 6.32 | -13.66 | -32.62 | 6.63 | -21.54 | -17.43 | 5.47 | -2.84 | -3.53 | 2.77 | -8.28 | -30.23 | 1.30 | -4.41 | -21.21 | 0.20 | -4.76 | -23.08 | 10.93 | -10.41 | -0.18 | 148.79 | -3.67 | -13.44 | 95.32 | 10.32 | -18.61 | 4.68 | -64.44 | 127.96 | 11.07 | -8.74 | 12.04 |
| 22Q3 (15) | 15.91 | -14.28 | -9.09 | 7.32 | -23.91 | -25.0 | 8.45 | -7.95 | -17.16 | 5.63 | -18.05 | -33.14 | 3.02 | -20.94 | -50.17 | 1.36 | -14.47 | -42.86 | 0.21 | 0.0 | -22.22 | 12.20 | -4.98 | -6.51 | 154.46 | -6.35 | -10.04 | 86.40 | -17.55 | -9.79 | 13.16 | 374.12 | 212.03 | 12.13 | -5.82 | 8.5 |
| 22Q2 (14) | 18.56 | 21.86 | 2.03 | 9.62 | 21.77 | 3.22 | 9.18 | 20.63 | -18.33 | 6.87 | 14.31 | -23.15 | 3.82 | -1.04 | -38.78 | 1.59 | 1.27 | -35.37 | 0.21 | -8.7 | -19.23 | 12.84 | 19.66 | -11.08 | 164.93 | -7.18 | -3.82 | 104.80 | 1.32 | 26.52 | -4.80 | -24.27 | -127.96 | 12.88 | 14.9 | 10.75 |
| 22Q1 (13) | 15.23 | -7.3 | -15.86 | 7.90 | -15.78 | -8.56 | 7.61 | -5.23 | -7.76 | 6.01 | 6.0 | -6.97 | 3.86 | -2.77 | 6.34 | 1.57 | -4.85 | 2.61 | 0.23 | -11.54 | 9.52 | 10.73 | -2.01 | -14.3 | 177.68 | 3.37 | 3.95 | 103.43 | -11.68 | -1.22 | -3.86 | 76.91 | 18.03 | 11.21 | 13.46 | -19.93 |
| 21Q4 (12) | 16.43 | -6.11 | 10.86 | 9.38 | -3.89 | 59.25 | 8.03 | -21.27 | 38.21 | 5.67 | -32.66 | 17.88 | 3.97 | -34.49 | 45.42 | 1.65 | -30.67 | 34.15 | 0.26 | -3.7 | 18.18 | 10.95 | -16.09 | 5.39 | 171.89 | 0.12 | 7.37 | 117.11 | 22.27 | 16.24 | -16.73 | -496.74 | -1012.55 | 9.88 | -11.63 | -24.87 |
| 21Q3 (11) | 17.50 | -3.79 | 35.14 | 9.76 | 4.72 | 287.3 | 10.20 | -9.25 | 275.0 | 8.42 | -5.82 | 422.98 | 6.06 | -2.88 | 630.12 | 2.38 | -3.25 | 385.71 | 0.27 | 3.85 | 42.11 | 13.05 | -9.63 | 68.17 | 171.69 | 0.12 | 2.6 | 95.78 | 15.64 | 3.45 | 4.22 | -75.44 | -43.07 | 11.18 | -3.87 | -26.64 |
| 21Q2 (10) | 18.19 | 0.5 | 35.44 | 9.32 | 7.87 | 213.8 | 11.24 | 36.24 | 61.96 | 8.94 | 38.39 | 56.02 | 6.24 | 71.9 | 124.46 | 2.46 | 60.78 | 103.31 | 0.26 | 23.81 | 52.94 | 14.44 | 15.34 | 12.99 | 171.48 | 0.32 | -1.78 | 82.83 | -20.9 | 92.77 | 17.17 | 464.36 | -69.9 | 11.63 | -16.93 | 0 |
| 21Q1 (9) | 18.10 | 22.13 | 14.7 | 8.64 | 46.69 | 50.52 | 8.25 | 42.0 | 409.26 | 6.46 | 34.3 | 697.53 | 3.63 | 32.97 | 830.77 | 1.53 | 24.39 | 302.63 | 0.21 | -4.55 | 16.67 | 12.52 | 20.5 | 75.84 | 170.93 | 6.77 | -7.79 | 104.71 | 3.93 | -70.76 | -4.71 | -213.35 | 98.17 | 14.00 | 6.46 | -2.44 |
| 20Q4 (8) | 14.82 | 14.44 | -8.12 | 5.89 | 133.73 | -10.62 | 5.81 | 113.6 | 18.33 | 4.81 | 198.76 | 2.34 | 2.73 | 228.92 | 8.33 | 1.23 | 151.02 | 3.36 | 0.22 | 15.79 | 10.0 | 10.39 | 33.89 | 7.78 | 160.09 | -4.33 | 4.66 | 100.75 | 8.81 | -24.44 | -1.50 | -120.3 | 95.6 | 13.15 | -13.71 | 14.55 |
| 20Q3 (7) | 12.95 | -3.57 | -16.99 | 2.52 | -15.15 | -60.99 | 2.72 | -60.81 | -63.93 | 1.61 | -71.9 | -76.77 | 0.83 | -70.14 | -78.77 | 0.49 | -59.5 | -70.66 | 0.19 | 11.76 | -9.52 | 7.76 | -39.28 | -36.76 | 167.34 | -4.15 | -2.32 | 92.59 | 115.49 | 8.12 | 7.41 | -87.01 | -48.43 | 15.24 | 0 | 17.68 |
| 20Q2 (6) | 13.43 | -14.89 | -15.85 | 2.97 | -48.26 | -48.44 | 6.94 | 328.4 | 50.87 | 5.73 | 607.41 | 46.92 | 2.78 | 612.82 | 34.3 | 1.21 | 218.42 | 18.63 | 0.17 | -5.56 | -19.05 | 12.78 | 79.49 | 39.06 | 174.58 | -5.83 | 3.65 | 42.97 | -88.0 | -65.69 | 57.03 | 122.1 | 326.01 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 15.78 | -2.17 | -5.17 | 5.74 | -12.9 | -14.58 | 1.62 | -67.01 | -79.02 | 0.81 | -82.77 | -88.93 | 0.39 | -84.52 | -89.74 | 0.38 | -68.07 | -78.41 | 0.18 | -10.0 | -14.29 | 7.12 | -26.14 | -42.3 | 185.38 | 21.2 | 29.57 | 358.06 | 168.55 | 311.54 | -258.06 | -654.34 | -2085.97 | 14.35 | 25.0 | 11.5 |
| 19Q4 (4) | 16.13 | 3.4 | 0.0 | 6.59 | 2.01 | 0.0 | 4.91 | -34.88 | 0.0 | 4.70 | -32.18 | 0.0 | 2.52 | -35.55 | 0.0 | 1.19 | -28.74 | 0.0 | 0.20 | -4.76 | 0.0 | 9.64 | -21.43 | 0.0 | 152.96 | -10.71 | 0.0 | 133.33 | 55.7 | 0.0 | -34.21 | -338.16 | 0.0 | 11.48 | -11.35 | 0.0 |
| 19Q3 (3) | 15.60 | -2.26 | 0.0 | 6.46 | 12.15 | 0.0 | 7.54 | 63.91 | 0.0 | 6.93 | 77.69 | 0.0 | 3.91 | 88.89 | 0.0 | 1.67 | 63.73 | 0.0 | 0.21 | 0.0 | 0.0 | 12.27 | 33.51 | 0.0 | 171.31 | 1.71 | 0.0 | 85.64 | -31.62 | 0.0 | 14.36 | 156.93 | 0.0 | 12.95 | -19.16 | 0.0 |
| 19Q2 (2) | 15.96 | -4.09 | 0.0 | 5.76 | -14.29 | 0.0 | 4.60 | -40.41 | 0.0 | 3.90 | -46.72 | 0.0 | 2.07 | -45.53 | 0.0 | 1.02 | -42.05 | 0.0 | 0.21 | 0.0 | 0.0 | 9.19 | -25.53 | 0.0 | 168.43 | 17.73 | 0.0 | 125.23 | 43.94 | 0.0 | -25.23 | -294.19 | 0.0 | 16.02 | 24.48 | 0.0 |
| 19Q1 (1) | 16.64 | 0.0 | 0.0 | 6.72 | 0.0 | 0.0 | 7.72 | 0.0 | 0.0 | 7.32 | 0.0 | 0.0 | 3.80 | 0.0 | 0.0 | 1.76 | 0.0 | 0.0 | 0.21 | 0.0 | 0.0 | 12.34 | 0.0 | 0.0 | 143.07 | 0.0 | 0.0 | 87.01 | 0.0 | 0.0 | 12.99 | 0.0 | 0.0 | 12.87 | 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) | 15.59 | -4.41 | 5.39 | -31.07 | 3.45 | 35.23 | 6.14 | -22.96 | 4.26 | -29.0 | 7.11 | -47.8 | 3.70 | -38.44 | 0.68 | -21.84 | 11.06 | -5.15 | 139.58 | -6.19 | 87.69 | -10.58 | 12.12 | 527.86 | 0.07 | 18.45 | 14.09 | 19.2 |
| 2022 (9) | 16.31 | -6.75 | 7.82 | -16.18 | 2.55 | 8.03 | 7.97 | -15.93 | 6.00 | -18.92 | 13.62 | -31.45 | 6.01 | -26.08 | 0.87 | -13.86 | 11.66 | -8.26 | 148.79 | -13.44 | 98.07 | -0.33 | 1.93 | 19.96 | 0.06 | -11.94 | 11.82 | 2.96 |
| 2021 (8) | 17.49 | 22.56 | 9.33 | 114.48 | 2.36 | -38.02 | 9.48 | 120.47 | 7.40 | 126.3 | 19.87 | 219.97 | 8.13 | 151.7 | 1.01 | 36.49 | 12.71 | 33.65 | 171.89 | 7.37 | 98.39 | -2.73 | 1.61 | 0 | 0.06 | -38.43 | 11.48 | -20.39 |
| 2020 (7) | 14.27 | -11.26 | 4.35 | -31.82 | 3.81 | 15.13 | 4.30 | -30.65 | 3.27 | -42.83 | 6.21 | -49.8 | 3.23 | -44.6 | 0.74 | -13.95 | 9.51 | -12.35 | 160.09 | 4.66 | 101.16 | -1.73 | -1.16 | 0 | 0.10 | 2.06 | 14.42 | 8.18 |
| 2019 (6) | 16.08 | -6.62 | 6.38 | -9.89 | 3.31 | 17.18 | 6.20 | -4.76 | 5.72 | -0.52 | 12.37 | -8.51 | 5.83 | -4.43 | 0.86 | -7.53 | 10.85 | 4.43 | 152.96 | 2.56 | 102.94 | -5.2 | -2.94 | 0 | 0.10 | 19.22 | 13.33 | 8.55 |
| 2018 (5) | 17.22 | 2.56 | 7.08 | 17.02 | 2.83 | -13.84 | 6.51 | 52.1 | 5.75 | 64.29 | 13.52 | 73.11 | 6.10 | 60.95 | 0.93 | 9.41 | 10.39 | 19.01 | 149.14 | -4.52 | 108.58 | -23.16 | -8.58 | 0 | 0.08 | 0 | 12.28 | 4.6 |
| 2017 (4) | 16.79 | -10.36 | 6.05 | -10.37 | 3.28 | 0.2 | 4.28 | -10.83 | 3.50 | -5.66 | 7.81 | -1.26 | 3.79 | -0.52 | 0.85 | 7.59 | 8.73 | -7.91 | 156.20 | -5.53 | 141.30 | 0.51 | -41.30 | 0 | 0.00 | 0 | 11.74 | 8.5 |
| 2016 (3) | 18.73 | 14.35 | 6.75 | 83.92 | 3.27 | 4.53 | 4.80 | 40.35 | 3.71 | 44.36 | 7.91 | 48.41 | 3.81 | 33.68 | 0.79 | 1.28 | 9.48 | 19.7 | 165.34 | -5.77 | 140.58 | 30.76 | -40.58 | 0 | 0.00 | 0 | 10.82 | -6.64 |
| 2015 (2) | 16.38 | 6.99 | 3.67 | 29.68 | 3.13 | 10.49 | 3.42 | 18.34 | 2.57 | 25.37 | 5.33 | 18.44 | 2.85 | 6.74 | 0.78 | -8.24 | 7.92 | 10.61 | 175.46 | 12.67 | 107.51 | 9.58 | -7.51 | 0 | 0.00 | 0 | 11.59 | 10.38 |
| 2014 (1) | 15.31 | 0 | 2.83 | 0 | 2.83 | -5.21 | 2.89 | 0 | 2.05 | 0 | 4.50 | 0 | 2.67 | 0 | 0.85 | 10.39 | 7.16 | -9.82 | 155.73 | -3.13 | 98.11 | 11.47 | 1.89 | -84.26 | 0.00 | 0 | 10.50 | 8.81 |
