- 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) | 30.65 | 6.06 | 7.06 | 18.82 | 17.04 | 14.41 | 15.55 | -24.81 | 12.36 | 14.05 | -14.54 | 20.39 | 3.19 | -13.08 | 15.16 | 2.33 | -10.38 | 17.68 | 0.16 | 6.67 | 0.0 | 22.11 | -18.8 | 13.04 | 40.56 | -3.41 | -8.28 | 120.87 | 55.35 | 1.8 | -20.87 | -194.0 | -11.4 | 20.62 | 29.04 | 30.92 |
| 23Q3 (19) | 28.90 | 4.41 | -11.57 | 16.08 | 1.13 | -21.33 | 20.68 | 5.83 | -22.43 | 16.44 | 20.35 | -21.11 | 3.67 | 19.16 | -32.16 | 2.60 | 18.18 | -29.54 | 0.15 | -6.25 | -11.76 | 27.23 | 5.95 | -14.91 | 41.99 | -13.12 | -9.25 | 77.80 | -4.36 | 1.32 | 22.20 | 19.01 | -4.99 | 15.98 | 16.56 | 2.96 |
| 23Q2 (18) | 27.68 | 1.32 | -13.5 | 15.90 | 10.19 | -25.25 | 19.54 | 31.41 | -20.21 | 13.66 | 22.29 | -23.73 | 3.08 | 35.09 | -42.54 | 2.20 | 30.95 | -40.22 | 0.16 | 14.29 | -20.0 | 25.70 | 18.87 | -11.23 | 48.33 | 21.86 | -7.8 | 81.35 | -15.98 | -6.34 | 18.65 | 550.74 | 41.91 | 13.71 | -14.15 | -6.03 |
| 23Q1 (17) | 27.32 | -4.58 | -5.96 | 14.43 | -12.28 | -18.24 | 14.87 | 7.44 | -28.54 | 11.17 | -4.28 | -30.84 | 2.28 | -17.69 | -48.76 | 1.68 | -15.15 | -46.84 | 0.14 | -12.5 | -26.32 | 21.62 | 10.53 | -15.97 | 39.66 | -10.31 | -7.68 | 96.82 | -18.46 | 14.09 | 2.87 | 115.3 | -81.07 | 15.97 | 1.4 | 10.06 |
| 22Q4 (16) | 28.63 | -12.39 | -0.38 | 16.45 | -19.52 | -6.64 | 13.84 | -48.09 | -25.07 | 11.67 | -44.0 | -17.64 | 2.77 | -48.8 | -36.61 | 1.98 | -46.34 | -34.87 | 0.16 | -5.88 | -23.81 | 19.56 | -38.88 | -15.87 | 44.22 | -4.43 | -5.61 | 118.73 | 54.63 | 24.23 | -18.73 | -180.17 | -504.76 | 15.75 | 1.48 | 1.74 |
| 22Q3 (15) | 32.68 | 2.12 | 8.0 | 20.44 | -3.9 | 6.68 | 26.66 | 8.86 | 32.9 | 20.84 | 16.36 | 37.29 | 5.41 | 0.93 | 12.71 | 3.69 | 0.27 | 9.5 | 0.17 | -15.0 | -22.73 | 32.00 | 10.54 | 32.23 | 46.27 | -11.73 | -6.34 | 76.79 | -11.6 | -19.64 | 23.36 | 77.76 | 425.67 | 15.52 | 6.37 | 8.3 |
| 22Q2 (14) | 32.00 | 10.15 | 6.7 | 21.27 | 20.51 | 14.35 | 24.49 | 17.68 | 30.06 | 17.91 | 10.9 | 17.91 | 5.36 | 20.45 | 20.18 | 3.68 | 16.46 | 14.29 | 0.20 | 5.26 | -4.76 | 28.95 | 12.51 | 24.14 | 52.42 | 22.02 | 23.46 | 86.86 | 2.35 | -12.0 | 13.14 | -13.19 | 909.81 | 14.59 | 0.55 | 14.43 |
| 22Q1 (13) | 29.05 | 1.08 | 1.75 | 17.65 | 0.17 | 7.43 | 20.81 | 12.67 | 14.78 | 16.15 | 13.97 | 9.64 | 4.45 | 1.83 | 10.42 | 3.16 | 3.95 | 13.26 | 0.19 | -9.52 | 5.56 | 25.73 | 10.67 | 11.34 | 42.96 | -8.3 | 1.49 | 84.86 | -11.21 | -6.39 | 15.14 | 227.16 | 61.92 | 14.51 | -6.27 | -0.89 |
| 21Q4 (12) | 28.74 | -5.02 | 1.09 | 17.62 | -8.04 | 10.61 | 18.47 | -7.93 | 34.43 | 14.17 | -6.65 | 37.71 | 4.37 | -8.96 | 36.56 | 3.04 | -9.79 | 47.57 | 0.21 | -4.55 | 10.53 | 23.25 | -3.93 | 23.74 | 46.85 | -5.16 | -16.65 | 95.57 | 0.02 | -17.56 | 4.63 | 4.12 | 129.05 | 15.48 | 8.03 | -1.09 |
| 21Q3 (11) | 30.26 | 0.9 | 0.73 | 19.16 | 3.01 | 5.39 | 20.06 | 6.53 | 9.38 | 15.18 | -0.07 | 1.61 | 4.80 | 7.62 | -6.8 | 3.37 | 4.66 | 13.85 | 0.22 | 4.76 | 15.79 | 24.20 | 3.77 | 3.33 | 49.40 | 16.34 | -34.15 | 95.56 | -3.18 | -3.68 | 4.44 | 241.48 | 461.48 | 14.33 | 12.39 | 14.92 |
| 21Q2 (10) | 29.99 | 5.04 | 0.03 | 18.60 | 13.21 | 0.43 | 18.83 | 3.86 | 9.48 | 15.19 | 3.12 | 11.53 | 4.46 | 10.67 | -9.72 | 3.22 | 15.41 | 15.83 | 0.21 | 16.67 | 10.53 | 23.32 | 0.91 | 5.19 | 42.46 | 0.31 | -52.84 | 98.70 | 8.88 | -8.35 | 1.30 | -86.08 | 116.92 | 12.75 | -12.91 | 0 |
| 21Q1 (9) | 28.55 | 0.42 | 11.57 | 16.43 | 3.14 | 31.76 | 18.13 | 31.95 | 36.21 | 14.73 | 43.15 | 37.15 | 4.03 | 25.94 | 34.33 | 2.79 | 35.44 | 57.63 | 0.18 | -5.26 | 20.0 | 23.11 | 22.99 | 16.13 | 42.33 | -24.69 | -48.75 | 90.65 | -21.81 | -2.84 | 9.35 | 158.69 | 50.33 | 14.64 | -6.45 | -1.01 |
| 20Q4 (8) | 28.43 | -5.36 | 8.55 | 15.93 | -12.38 | 17.48 | 13.74 | -25.08 | 29.38 | 10.29 | -31.12 | 27.99 | 3.20 | -37.86 | 18.52 | 2.06 | -30.41 | 30.38 | 0.19 | 0.0 | 5.56 | 18.79 | -19.77 | 14.85 | 56.21 | -25.07 | -34.02 | 115.93 | 16.86 | -9.01 | -15.93 | -2112.77 | 42.93 | 15.65 | 25.5 | 0 |
| 20Q3 (7) | 30.04 | 0.2 | 15.76 | 18.18 | -1.84 | 40.6 | 18.34 | 6.63 | 73.02 | 14.94 | 9.69 | 101.08 | 5.15 | 4.25 | 119.15 | 2.96 | 6.47 | 116.06 | 0.19 | 0.0 | 18.75 | 23.42 | 5.64 | 40.49 | 75.02 | -16.68 | -17.99 | 99.21 | -7.88 | -18.79 | 0.79 | 110.29 | 103.57 | 12.47 | 0 | -18.55 |
| 20Q2 (6) | 29.98 | 17.16 | 29.73 | 18.52 | 48.52 | 69.6 | 17.20 | 29.23 | 59.55 | 13.62 | 26.82 | 65.49 | 4.94 | 64.67 | 91.47 | 2.78 | 57.06 | 84.11 | 0.19 | 26.67 | 11.76 | 22.17 | 11.41 | 33.39 | 90.04 | 9.01 | -6.39 | 107.69 | 15.42 | 6.05 | -7.69 | -223.67 | -397.44 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 25.59 | -2.29 | 4.11 | 12.47 | -8.04 | 11.64 | 13.31 | 25.33 | 2.54 | 10.74 | 33.58 | 8.38 | 3.00 | 11.11 | 6.01 | 1.77 | 12.03 | 7.93 | 0.15 | -16.67 | 0.0 | 19.90 | 21.64 | 4.68 | 82.60 | -3.04 | -1.15 | 93.30 | -26.77 | 8.6 | 6.22 | 122.28 | -55.84 | 14.79 | 0 | -7.21 |
| 19Q4 (4) | 26.19 | 0.92 | 0.0 | 13.56 | 4.87 | 0.0 | 10.62 | 0.19 | 0.0 | 8.04 | 8.21 | 0.0 | 2.70 | 14.89 | 0.0 | 1.58 | 15.33 | 0.0 | 0.18 | 12.5 | 0.0 | 16.36 | -1.86 | 0.0 | 85.19 | -6.88 | 0.0 | 127.41 | 4.3 | 0.0 | -27.92 | -25.97 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 25.95 | 12.29 | 0.0 | 12.93 | 18.41 | 0.0 | 10.60 | -1.67 | 0.0 | 7.43 | -9.72 | 0.0 | 2.35 | -8.91 | 0.0 | 1.37 | -9.27 | 0.0 | 0.16 | -5.88 | 0.0 | 16.67 | 0.3 | 0.0 | 91.48 | -4.9 | 0.0 | 122.16 | 20.3 | 0.0 | -22.16 | -1333.15 | 0.0 | 15.31 | 12.82 | 0.0 |
| 19Q2 (2) | 23.11 | -5.98 | 0.0 | 10.92 | -2.24 | 0.0 | 10.78 | -16.95 | 0.0 | 8.23 | -16.95 | 0.0 | 2.58 | -8.83 | 0.0 | 1.51 | -7.93 | 0.0 | 0.17 | 13.33 | 0.0 | 16.62 | -12.57 | 0.0 | 96.19 | 15.11 | 0.0 | 101.55 | 18.19 | 0.0 | -1.55 | -110.98 | 0.0 | 13.57 | -14.87 | 0.0 |
| 19Q1 (1) | 24.58 | 0.0 | 0.0 | 11.17 | 0.0 | 0.0 | 12.98 | 0.0 | 0.0 | 9.91 | 0.0 | 0.0 | 2.83 | 0.0 | 0.0 | 1.64 | 0.0 | 0.0 | 0.15 | 0.0 | 0.0 | 19.01 | 0.0 | 0.0 | 83.56 | 0.0 | 0.0 | 85.92 | 0.0 | 0.0 | 14.08 | 0.0 | 0.0 | 15.94 | 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) | 28.68 | -6.43 | 16.37 | -14.07 | 5.90 | 30.19 | 17.68 | -18.3 | 13.87 | -17.19 | 12.07 | -33.31 | 8.74 | -31.34 | 0.61 | -17.57 | 24.18 | -9.51 | 40.56 | -8.28 | 92.58 | 5.17 | 7.42 | -38.04 | 0.15 | -8.94 | 16.63 | 10.35 |
| 2022 (9) | 30.65 | 4.18 | 19.05 | 5.66 | 4.53 | 13.68 | 21.64 | 14.44 | 16.75 | 13.1 | 18.10 | 0.44 | 12.73 | 3.83 | 0.74 | -8.64 | 26.72 | 13.75 | 44.22 | -5.61 | 88.03 | -7.65 | 11.97 | 153.25 | 0.16 | -20.3 | 15.07 | 5.24 |
| 2021 (8) | 29.42 | 2.54 | 18.03 | 9.21 | 3.99 | -9.07 | 18.91 | 19.91 | 14.81 | 18.67 | 18.02 | 19.65 | 12.26 | 30.01 | 0.81 | 12.5 | 23.49 | 11.17 | 46.85 | -16.65 | 95.33 | -8.88 | 4.73 | 0 | 0.21 | -23.48 | 14.32 | 2.36 |
| 2020 (7) | 28.69 | 14.94 | 16.51 | 35.66 | 4.39 | -6.48 | 15.77 | 40.8 | 12.48 | 49.1 | 15.06 | 42.48 | 9.43 | 53.08 | 0.72 | 9.09 | 21.13 | 23.42 | 56.21 | -34.02 | 104.62 | -3.68 | -4.70 | 0 | 0.27 | -10.93 | 13.99 | -4.96 |
| 2019 (6) | 24.96 | -6.87 | 12.17 | -15.07 | 4.69 | 42.4 | 11.20 | -24.02 | 8.37 | -25.47 | 10.57 | -36.52 | 6.16 | -33.41 | 0.66 | -16.46 | 17.12 | -8.94 | 85.19 | -10.29 | 108.62 | 11.82 | -8.62 | 0 | 0.30 | -3.48 | 14.72 | 6.51 |
| 2018 (5) | 26.80 | 9.61 | 14.33 | 15.1 | 3.29 | -8.01 | 14.74 | 2.93 | 11.23 | 4.47 | 16.65 | 8.54 | 9.25 | 2.55 | 0.79 | -1.25 | 18.80 | 1.02 | 94.96 | 17.13 | 97.14 | 11.7 | 2.78 | -78.67 | 0.31 | 0 | 13.82 | -2.68 |
| 2017 (4) | 24.45 | -2.32 | 12.45 | 3.15 | 3.58 | -19.76 | 14.32 | 22.92 | 10.75 | 21.61 | 15.34 | 37.83 | 9.02 | 32.26 | 0.80 | 9.59 | 18.61 | 10.05 | 81.07 | 10.36 | 86.96 | -16.12 | 13.04 | 0 | 0.00 | 0 | 14.20 | -5.27 |
| 2016 (3) | 25.03 | 4.86 | 12.07 | 12.07 | 4.46 | -7.56 | 11.65 | 4.67 | 8.84 | 7.41 | 11.13 | 8.8 | 6.82 | 7.23 | 0.73 | 1.39 | 16.91 | 0.54 | 73.46 | 3.61 | 103.68 | 7.16 | -3.68 | 0 | 0.00 | 0 | 14.99 | -6.43 |
| 2015 (2) | 23.87 | 3.65 | 10.77 | -2.71 | 4.83 | 2.82 | 11.13 | -19.99 | 8.23 | -22.06 | 10.23 | -31.66 | 6.36 | -29.25 | 0.72 | -11.11 | 16.82 | -13.07 | 70.90 | -2.06 | 96.75 | 21.51 | 3.25 | -84.05 | 0.00 | 0 | 16.02 | 9.28 |
| 2014 (1) | 23.03 | 0 | 11.07 | 0 | 4.69 | -1.45 | 13.91 | 0 | 10.56 | 0 | 14.97 | 0 | 8.99 | 0 | 0.81 | -1.22 | 19.35 | 27.3 | 72.39 | -4.55 | 79.62 | 6.16 | 20.38 | -18.48 | 0.00 | 0 | 14.66 | -0.61 |
