- 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) | 13.05 | 29.46 | 79.75 | 7.03 | 22.47 | 91.55 | 37.41 | 71.92 | 655.76 | 29.26 | 65.5 | 626.05 | 11.03 | 19.24 | 415.42 | 5.88 | 27.83 | 444.44 | 0.20 | -20.0 | -13.04 | 40.47 | 63.58 | 390.55 | 83.68 | -15.42 | -35.8 | 18.75 | -28.61 | -74.9 | 81.07 | 10.32 | 205.84 | 8.48 | 34.39 | 75.93 |
| 23Q3 (19) | 10.08 | -15.51 | 554.55 | 5.74 | -27.16 | 372.04 | 21.76 | 138.6 | 4284.62 | 17.68 | 137.95 | 882.3 | 9.25 | 93.11 | 883.9 | 4.60 | 100.87 | 1452.94 | 0.25 | -10.71 | 13.64 | 24.74 | 108.95 | 786.74 | 98.94 | -18.78 | -28.75 | 26.26 | -69.57 | -93.25 | 73.48 | 437.0 | 125.44 | 6.31 | 35.99 | 50.96 |
| 23Q2 (18) | 11.93 | -9.83 | 14.71 | 7.88 | -12.05 | 23.51 | 9.12 | -21.65 | 76.06 | 7.43 | -26.87 | 122.46 | 4.79 | -9.11 | 201.26 | 2.29 | -5.76 | 172.62 | 0.28 | 27.27 | 33.33 | 11.84 | -20.86 | 43.0 | 121.82 | -11.67 | -11.99 | 86.32 | 11.98 | -29.82 | 13.68 | -40.29 | 159.53 | 4.64 | -21.75 | -15.02 |
| 23Q1 (17) | 13.23 | 82.23 | 108.68 | 8.96 | 144.14 | 49.83 | 11.64 | 135.15 | 5.82 | 10.16 | 152.11 | -9.12 | 5.27 | 146.26 | 9.11 | 2.43 | 125.0 | 3.4 | 0.22 | -4.35 | 10.0 | 14.96 | 81.33 | 4.76 | 137.91 | 5.81 | 23.94 | 77.08 | 3.19 | 42.12 | 22.92 | -13.54 | -49.92 | 5.93 | 23.03 | 5.14 |
| 22Q4 (16) | 7.26 | 371.43 | -22.77 | 3.67 | 273.93 | 4.26 | 4.95 | 1051.92 | -14.66 | 4.03 | 278.32 | -22.2 | 2.14 | 281.36 | -10.08 | 1.08 | 417.65 | -10.74 | 0.23 | 4.55 | 9.52 | 8.25 | 195.7 | -8.33 | 130.34 | -6.14 | 4.8 | 74.70 | -80.79 | 23.64 | 26.51 | 109.18 | -33.04 | 4.82 | 15.31 | -6.41 |
| 22Q3 (15) | 1.54 | -85.19 | -88.35 | -2.11 | -133.07 | -123.19 | -0.52 | -110.04 | -104.11 | -2.26 | -167.66 | -122.07 | -1.18 | -174.21 | -121.93 | -0.34 | -140.48 | -113.08 | 0.22 | 4.76 | -8.33 | 2.79 | -66.3 | -81.88 | 138.86 | 0.32 | 16.56 | 388.89 | 216.2 | 439.87 | -288.89 | -1156.67 | -1133.0 | 4.18 | -23.44 | -36.28 |
| 22Q2 (14) | 10.40 | 64.04 | -32.11 | 6.38 | 6.69 | -39.87 | 5.18 | -52.91 | -59.05 | 3.34 | -70.13 | -67.88 | 1.59 | -67.08 | -67.75 | 0.84 | -64.26 | -65.99 | 0.21 | 5.0 | -8.7 | 8.28 | -42.02 | -47.06 | 138.42 | 24.4 | 17.61 | 122.99 | 126.76 | 46.61 | -22.99 | -150.23 | -242.66 | 5.46 | -3.19 | -13.06 |
| 22Q1 (13) | 6.34 | -32.55 | -56.58 | 5.98 | 69.89 | -30.3 | 11.00 | 89.66 | -58.62 | 11.18 | 115.83 | -53.46 | 4.83 | 102.94 | -50.91 | 2.35 | 94.21 | -51.65 | 0.20 | -4.76 | 0.0 | 14.28 | 58.67 | -52.73 | 111.27 | -10.53 | 9.66 | 54.24 | -10.23 | 68.27 | 45.76 | 15.61 | -32.47 | 5.64 | 9.51 | -32.86 |
| 21Q4 (12) | 9.40 | -28.9 | -28.79 | 3.52 | -61.32 | -57.13 | 5.80 | -54.15 | -28.83 | 5.18 | -49.41 | -31.48 | 2.38 | -55.76 | -25.86 | 1.21 | -53.46 | -23.9 | 0.21 | -12.5 | 10.53 | 9.00 | -41.56 | -25.5 | 124.37 | 4.4 | 7.64 | 60.42 | -16.13 | -40.15 | 39.58 | 41.54 | 4295.83 | 5.15 | -21.49 | -26.43 |
| 21Q3 (11) | 13.22 | -13.71 | 19.85 | 9.10 | -14.23 | 49.43 | 12.65 | 0.0 | -10.54 | 10.24 | -1.54 | -19.18 | 5.38 | 9.13 | -7.08 | 2.60 | 5.26 | -2.99 | 0.24 | 4.35 | 20.0 | 15.40 | -1.53 | -14.21 | 119.13 | 1.22 | -8.27 | 72.03 | -14.13 | 67.19 | 27.97 | 73.55 | -50.86 | 6.56 | 4.46 | -3.95 |
| 21Q2 (10) | 15.32 | 4.93 | 134.61 | 10.61 | 23.66 | 268.4 | 12.65 | -52.41 | 7.84 | 10.40 | -56.7 | -5.54 | 4.93 | -49.9 | 10.54 | 2.47 | -49.18 | 13.82 | 0.23 | 15.0 | 27.78 | 15.64 | -48.23 | 0.32 | 117.69 | 15.99 | -8.06 | 83.89 | 160.26 | 245.41 | 16.11 | -76.22 | -78.72 | 6.28 | -25.24 | 0 |
| 21Q1 (9) | 14.60 | 10.61 | 93.12 | 8.58 | 4.51 | 135.71 | 26.58 | 226.13 | 2558.0 | 24.02 | 217.72 | 5686.05 | 9.84 | 206.54 | 5888.24 | 4.86 | 205.66 | 8000.0 | 0.20 | 5.26 | 0.0 | 30.21 | 150.08 | 542.77 | 101.47 | -12.18 | -9.14 | 32.23 | -68.07 | -90.89 | 67.77 | 7283.47 | 126.7 | 8.40 | 20.0 | 0 |
| 20Q4 (8) | 13.20 | 19.67 | 62.36 | 8.21 | 34.81 | 253.88 | 8.15 | -42.36 | -0.97 | 7.56 | -40.33 | 6.33 | 3.21 | -44.56 | 34.31 | 1.59 | -40.67 | 22.31 | 0.19 | -5.0 | 18.75 | 12.08 | -32.7 | 0.42 | 115.54 | -11.03 | 14.06 | 100.94 | 134.29 | 261.71 | -0.94 | -101.66 | -101.31 | 7.00 | 2.49 | -9.09 |
| 20Q3 (7) | 11.03 | 68.91 | 25.2 | 6.09 | 111.46 | 54.18 | 14.14 | 20.55 | 57.11 | 12.67 | 15.08 | 70.52 | 5.79 | 29.82 | 112.87 | 2.68 | 23.5 | 86.11 | 0.20 | 11.11 | 11.11 | 17.95 | 15.14 | 43.83 | 129.87 | 1.45 | 18.68 | 43.09 | 77.41 | -2.08 | 56.91 | -24.83 | 1.63 | 6.83 | 0 | -3.26 |
| 20Q2 (6) | 6.53 | -13.62 | -29.86 | 2.88 | -20.88 | -33.49 | 11.73 | 1073.0 | 76.13 | 11.01 | 2660.47 | 129.38 | 4.46 | 2723.53 | 197.33 | 2.17 | 3516.67 | 149.43 | 0.18 | -10.0 | 12.5 | 15.59 | 231.7 | 58.92 | 128.01 | 14.62 | 19.59 | 24.29 | -93.14 | -62.99 | 75.71 | 129.83 | 110.68 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 7.56 | -7.01 | -50.75 | 3.64 | 56.9 | -65.66 | 1.00 | -87.85 | -94.46 | -0.43 | -106.05 | -102.51 | -0.17 | -107.11 | -102.29 | 0.06 | -95.38 | -98.53 | 0.20 | 25.0 | -13.04 | 4.70 | -60.93 | -76.76 | 111.68 | 10.25 | 34.28 | 353.85 | 1167.95 | 499.57 | -253.85 | -452.11 | -713.25 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 8.13 | -7.72 | 0.0 | 2.32 | -41.27 | 0.0 | 8.23 | -8.56 | 0.0 | 7.11 | -4.31 | 0.0 | 2.39 | -12.13 | 0.0 | 1.30 | -9.72 | 0.0 | 0.16 | -11.11 | 0.0 | 12.03 | -3.61 | 0.0 | 101.30 | -7.43 | 0.0 | 27.91 | -36.58 | 0.0 | 72.09 | 28.74 | 0.0 | 7.70 | 9.07 | 0.0 |
| 19Q3 (3) | 8.81 | -5.37 | 0.0 | 3.95 | -8.78 | 0.0 | 9.00 | 35.14 | 0.0 | 7.43 | 54.79 | 0.0 | 2.72 | 81.33 | 0.0 | 1.44 | 65.52 | 0.0 | 0.18 | 12.5 | 0.0 | 12.48 | 27.22 | 0.0 | 109.43 | 2.23 | 0.0 | 44.00 | -32.95 | 0.0 | 56.00 | 55.83 | 0.0 | 7.06 | -7.35 | 0.0 |
| 19Q2 (2) | 9.31 | -39.35 | 0.0 | 4.33 | -59.15 | 0.0 | 6.66 | -63.08 | 0.0 | 4.80 | -71.93 | 0.0 | 1.50 | -79.76 | 0.0 | 0.87 | -78.68 | 0.0 | 0.16 | -30.43 | 0.0 | 9.81 | -51.48 | 0.0 | 107.04 | 28.7 | 0.0 | 65.62 | 11.2 | 0.0 | 35.94 | -13.18 | 0.0 | 7.62 | 20.0 | 0.0 |
| 19Q1 (1) | 15.35 | 0.0 | 0.0 | 10.60 | 0.0 | 0.0 | 18.04 | 0.0 | 0.0 | 17.10 | 0.0 | 0.0 | 7.41 | 0.0 | 0.0 | 4.08 | 0.0 | 0.0 | 0.23 | 0.0 | 0.0 | 20.22 | 0.0 | 0.0 | 83.17 | 0.0 | 0.0 | 59.02 | 0.0 | 0.0 | 41.39 | 0.0 | 0.0 | 6.35 | 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) | 11.99 | 87.05 | 7.40 | 112.64 | 1.97 | -11.88 | 18.86 | 268.36 | 15.26 | 278.66 | 29.39 | 276.31 | 15.06 | 274.63 | 0.94 | 10.59 | 21.86 | 161.48 | 83.68 | -35.8 | 39.26 | -42.39 | 60.74 | 90.66 | 0.04 | -62.97 | 6.17 | 22.91 |
| 2022 (9) | 6.41 | -50.99 | 3.48 | -56.34 | 2.23 | 1.07 | 5.12 | -62.95 | 4.03 | -66.05 | 7.81 | -66.04 | 4.02 | -63.35 | 0.85 | -3.41 | 8.36 | -50.59 | 130.34 | 4.8 | 68.14 | 18.04 | 31.86 | -24.83 | 0.11 | 193.6 | 5.02 | -22.89 |
| 2021 (8) | 13.08 | 35.26 | 7.97 | 51.23 | 2.21 | -18.72 | 13.82 | 57.22 | 11.87 | 53.56 | 23.00 | 84.0 | 10.97 | 66.46 | 0.88 | 12.82 | 16.92 | 33.97 | 124.37 | 7.64 | 57.73 | -3.57 | 42.38 | 6.2 | 0.04 | -16.66 | 6.51 | -2.25 |
| 2020 (7) | 9.67 | -9.88 | 5.27 | -6.89 | 2.72 | 25.7 | 8.79 | -20.38 | 7.73 | -20.39 | 12.50 | -11.79 | 6.59 | -14.64 | 0.78 | 4.0 | 12.63 | -10.81 | 115.54 | 14.06 | 59.87 | 16.67 | 39.91 | -18.03 | 0.04 | 39.51 | 6.66 | -6.46 |
| 2019 (6) | 10.73 | 19.49 | 5.66 | 44.02 | 2.16 | 44.33 | 11.04 | 46.61 | 9.71 | 47.57 | 14.17 | 44.44 | 7.72 | 34.03 | 0.75 | -7.41 | 14.16 | 43.9 | 101.30 | 12.58 | 51.31 | -1.79 | 48.69 | 1.96 | 0.03 | -9.15 | 7.12 | 0.99 |
| 2018 (5) | 8.98 | -40.29 | 3.93 | -50.13 | 1.50 | -2.71 | 7.53 | -27.18 | 6.58 | -17.85 | 9.81 | -17.35 | 5.76 | -17.24 | 0.81 | 0.0 | 9.84 | -22.76 | 89.98 | 13.48 | 52.25 | -31.38 | 47.75 | 100.16 | 0.03 | 0 | 7.05 | -7.36 |
| 2017 (4) | 15.04 | -12.35 | 7.88 | -27.24 | 1.54 | -14.67 | 10.34 | -12.45 | 8.01 | -17.59 | 11.87 | -16.35 | 6.96 | -13.11 | 0.81 | 3.85 | 12.74 | -12.62 | 79.29 | -7.37 | 76.14 | -16.96 | 23.86 | 187.37 | 0.00 | 0 | 7.61 | -9.3 |
| 2016 (3) | 17.16 | 65.96 | 10.83 | 1675.41 | 1.81 | 0.14 | 11.81 | 0 | 9.72 | 0 | 14.19 | 0 | 8.01 | 0 | 0.78 | 8.33 | 14.58 | 0 | 85.60 | -5.29 | 91.70 | 0 | 8.30 | -92.18 | 0.00 | 0 | 8.39 | 19.69 |
| 2015 (2) | 10.34 | -9.54 | 0.61 | -89.63 | 1.80 | 2.42 | -9.90 | 0 | -10.98 | 0 | -14.13 | 0 | -7.52 | 0 | 0.72 | -17.24 | -7.06 | 0 | 90.38 | 32.52 | -6.15 | 0 | 106.15 | 0 | 0.00 | 0 | 7.01 | 18.01 |
| 2014 (1) | 11.43 | 0 | 5.88 | 0 | 1.76 | -2.22 | 5.67 | 0 | 4.70 | 0 | 6.82 | 0 | 4.53 | 0 | 0.87 | 7.41 | 8.24 | 12.41 | 68.20 | 6.4 | 103.73 | -1.95 | -3.73 | 0 | 0.00 | 0 | 5.94 | -2.14 |
