- 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) | 20.98 | 8.65 | 65.33 | 8.70 | 24.11 | 1379.41 | 3.63 | -80.11 | 187.68 | -1.45 | -109.62 | 81.05 | -0.21 | -108.97 | 80.37 | -0.04 | -102.74 | 92.59 | 0.08 | -11.11 | 0.0 | 20.87 | -38.18 | 25.5 | 66.81 | -0.86 | -6.15 | 239.25 | 523.07 | 1358.95 | -139.59 | -326.6 | -266.97 | 20.65 | -4.53 | 16.14 |
| 23Q3 (19) | 19.31 | 11.94 | 36.18 | 7.01 | 53.73 | 364.24 | 18.25 | 30.45 | 40.28 | 15.08 | 17.63 | 70.01 | 2.34 | 21.24 | 70.8 | 1.46 | 19.67 | 71.76 | 0.09 | 0.0 | 0.0 | 33.76 | 10.33 | 9.9 | 67.39 | -7.57 | -6.44 | 38.40 | 17.76 | 231.34 | 61.60 | -8.59 | -30.32 | 21.63 | -8.04 | -3.31 |
| 23Q2 (18) | 17.25 | 28.54 | -20.91 | 4.56 | 225.71 | -56.9 | 13.99 | 139.97 | -7.04 | 12.82 | 144.66 | 26.31 | 1.93 | 153.95 | 3.76 | 1.22 | 130.19 | 8.93 | 0.09 | 0.0 | -18.18 | 30.60 | 28.9 | 3.94 | 72.91 | 8.3 | -4.38 | 32.61 | 35.18 | -53.63 | 67.39 | -11.18 | 127.14 | 23.52 | 26.79 | 15.41 |
| 23Q1 (17) | 13.42 | 5.75 | -35.82 | 1.40 | 305.88 | -85.61 | 5.83 | 240.82 | -56.26 | 5.24 | 168.5 | -55.33 | 0.76 | 171.03 | -63.64 | 0.53 | 198.15 | -57.6 | 0.09 | 12.5 | -10.0 | 23.74 | 42.75 | -14.57 | 67.32 | -5.44 | -3.64 | 24.12 | 47.1 | -66.94 | 75.88 | -9.24 | 180.75 | 18.55 | 4.33 | -11.16 |
| 22Q4 (16) | 12.69 | -10.51 | -40.76 | -0.68 | -145.03 | -107.56 | -4.14 | -131.82 | -127.38 | -7.65 | -186.25 | -157.48 | -1.07 | -178.1 | -145.92 | -0.54 | -163.53 | -140.6 | 0.08 | -11.11 | -20.0 | 16.63 | -45.87 | -45.28 | 71.19 | -1.17 | -6.25 | 16.40 | 41.51 | -72.43 | 83.60 | -5.44 | 106.28 | 17.78 | -20.52 | -19.98 |
| 22Q3 (15) | 14.18 | -34.98 | -56.07 | 1.51 | -85.73 | -93.41 | 13.01 | -13.55 | -59.09 | 8.87 | -12.61 | -67.71 | 1.37 | -26.34 | -77.69 | 0.85 | -24.11 | -74.47 | 0.09 | -18.18 | -25.0 | 30.72 | 4.35 | -28.31 | 72.03 | -5.53 | -16.95 | 11.59 | -83.52 | -83.93 | 88.41 | 197.99 | 216.91 | 22.37 | 9.76 | 19.63 |
| 22Q2 (14) | 21.81 | 4.3 | -35.93 | 10.58 | 8.74 | -58.26 | 15.05 | 12.9 | -44.32 | 10.15 | -13.47 | -53.53 | 1.86 | -11.0 | -64.57 | 1.12 | -10.4 | -62.03 | 0.11 | 10.0 | -15.38 | 29.44 | 5.94 | -20.43 | 76.25 | 9.15 | -12.55 | 70.33 | -3.62 | -25.0 | 29.67 | 9.78 | 376.98 | 20.38 | -2.39 | 15.8 |
| 22Q1 (13) | 20.91 | -2.38 | -28.78 | 9.73 | 8.23 | -51.93 | 13.33 | -11.84 | -47.35 | 11.73 | -11.87 | -44.28 | 2.09 | -10.3 | -55.44 | 1.25 | -6.02 | -53.53 | 0.10 | 0.0 | -23.08 | 27.79 | -8.56 | -22.35 | 69.86 | -8.01 | -7.11 | 72.97 | 22.7 | -8.74 | 27.03 | -33.31 | 34.88 | 20.88 | -6.03 | 13.05 |
| 21Q4 (12) | 21.42 | -33.64 | -29.19 | 8.99 | -60.79 | -55.38 | 15.12 | -52.45 | -35.91 | 13.31 | -51.55 | -25.64 | 2.33 | -62.05 | -43.58 | 1.33 | -60.06 | -43.16 | 0.10 | -16.67 | -23.08 | 30.39 | -29.08 | -10.49 | 75.94 | -12.44 | -4.83 | 59.47 | -17.52 | -30.37 | 40.53 | 45.28 | 177.88 | 22.22 | 18.82 | 14.95 |
| 21Q3 (11) | 32.28 | -5.17 | -5.83 | 22.93 | -9.55 | -9.87 | 31.80 | 17.65 | 3.38 | 27.47 | 25.78 | 7.85 | 6.14 | 16.95 | -5.25 | 3.33 | 12.88 | -5.93 | 0.12 | -7.69 | -14.29 | 42.85 | 15.81 | 6.62 | 86.73 | -0.53 | 5.73 | 72.10 | -23.12 | -12.83 | 27.90 | 348.5 | 61.39 | 18.70 | 6.25 | 28.26 |
| 21Q2 (10) | 34.04 | 15.94 | 0.71 | 25.35 | 25.25 | -0.78 | 27.03 | 6.75 | -6.11 | 21.84 | 3.75 | -7.34 | 5.25 | 11.94 | -5.41 | 2.95 | 9.67 | -6.05 | 0.13 | 0.0 | 0.0 | 37.00 | 3.38 | -4.07 | 87.19 | 15.93 | -2.0 | 93.78 | 17.28 | 5.65 | 6.22 | -68.96 | -44.65 | 17.60 | -4.71 | 6.09 |
| 21Q1 (9) | 29.36 | -2.94 | 11.76 | 20.24 | 0.45 | 28.43 | 25.32 | 7.33 | 70.73 | 21.05 | 17.6 | 89.64 | 4.69 | 13.56 | 138.07 | 2.69 | 14.96 | 118.7 | 0.13 | 0.0 | 18.18 | 35.79 | 5.42 | 31.48 | 75.21 | -5.74 | 7.86 | 79.96 | -6.38 | -24.81 | 20.04 | 37.38 | 415.93 | 18.47 | -4.45 | -7.97 |
| 20Q4 (8) | 30.25 | -11.76 | 13.21 | 20.15 | -20.79 | 11.63 | 23.59 | -23.31 | 9.77 | 17.90 | -29.72 | -2.45 | 4.13 | -36.27 | 19.71 | 2.34 | -33.9 | 10.38 | 0.13 | -7.14 | 18.18 | 33.95 | -15.53 | 3.41 | 79.79 | -2.73 | 23.51 | 85.41 | 3.27 | 1.71 | 14.59 | -15.62 | -8.95 | 19.33 | 32.58 | 8.6 |
| 20Q3 (7) | 34.28 | 1.42 | 18.25 | 25.44 | -0.43 | 23.74 | 30.76 | 6.84 | 7.7 | 25.47 | 8.06 | 1.92 | 6.48 | 16.76 | 23.66 | 3.54 | 12.74 | 15.69 | 0.14 | 7.69 | 16.67 | 40.19 | 4.2 | 4.53 | 82.03 | -7.8 | 21.51 | 82.71 | -6.81 | 14.89 | 17.29 | 53.81 | -38.28 | 14.58 | -12.12 | -3.25 |
| 20Q2 (6) | 33.80 | 28.66 | -8.75 | 25.55 | 62.12 | -10.76 | 28.79 | 94.13 | -6.13 | 23.57 | 112.34 | 17.26 | 5.55 | 181.73 | 32.46 | 3.14 | 155.28 | 22.18 | 0.13 | 18.18 | 0.0 | 38.57 | 41.7 | -1.48 | 88.97 | 27.59 | 12.58 | 88.76 | -16.53 | -4.9 | 11.24 | 277.2 | 68.65 | 16.59 | -17.34 | 17.16 |
| 20Q1 (5) | 26.27 | -1.68 | -38.48 | 15.76 | -12.69 | -52.23 | 14.83 | -30.99 | -59.51 | 11.10 | -39.51 | -62.49 | 1.97 | -42.9 | -68.43 | 1.23 | -41.98 | -68.46 | 0.11 | 0.0 | -15.38 | 27.22 | -17.09 | -38.43 | 69.73 | 7.94 | 34.17 | 106.34 | 26.63 | 18.08 | -6.34 | -139.59 | -163.8 | 20.07 | 12.75 | 27.83 |
| 19Q4 (4) | 26.72 | -7.83 | 0.0 | 18.05 | -12.21 | 0.0 | 21.49 | -24.75 | 0.0 | 18.35 | -26.57 | 0.0 | 3.45 | -34.16 | 0.0 | 2.12 | -30.72 | 0.0 | 0.11 | -8.33 | 0.0 | 32.83 | -14.62 | 0.0 | 64.60 | -4.31 | 0.0 | 83.98 | 16.65 | 0.0 | 16.02 | -42.8 | 0.0 | 17.80 | 18.12 | 0.0 |
| 19Q3 (3) | 28.99 | -21.73 | 0.0 | 20.56 | -28.19 | 0.0 | 28.56 | -6.88 | 0.0 | 24.99 | 24.33 | 0.0 | 5.24 | 25.06 | 0.0 | 3.06 | 19.07 | 0.0 | 0.12 | -7.69 | 0.0 | 38.45 | -1.79 | 0.0 | 67.51 | -14.58 | 0.0 | 71.99 | -22.87 | 0.0 | 28.01 | 320.26 | 0.0 | 15.07 | 6.43 | 0.0 |
| 19Q2 (2) | 37.04 | -13.26 | 0.0 | 28.63 | -13.22 | 0.0 | 30.67 | -16.27 | 0.0 | 20.10 | -32.07 | 0.0 | 4.19 | -32.85 | 0.0 | 2.57 | -34.1 | 0.0 | 0.13 | 0.0 | 0.0 | 39.15 | -11.45 | 0.0 | 79.03 | 52.07 | 0.0 | 93.34 | 3.64 | 0.0 | 6.66 | -32.96 | 0.0 | 14.16 | -9.81 | 0.0 |
| 19Q1 (1) | 42.70 | 0.0 | 0.0 | 32.99 | 0.0 | 0.0 | 36.63 | 0.0 | 0.0 | 29.59 | 0.0 | 0.0 | 6.24 | 0.0 | 0.0 | 3.90 | 0.0 | 0.0 | 0.13 | 0.0 | 0.0 | 44.21 | 0.0 | 0.0 | 51.97 | 0.0 | 0.0 | 90.06 | 0.0 | 0.0 | 9.94 | 0.0 | 0.0 | 15.70 | 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) | 17.80 | -0.28 | 5.47 | -6.34 | 15.11 | -1.5 | 10.63 | 6.09 | 8.10 | 24.62 | 4.82 | 12.35 | 3.19 | 18.15 | 0.35 | -7.89 | 27.41 | 3.2 | 66.81 | -6.15 | 51.51 | -11.58 | 48.46 | 16.09 | 0.61 | -17.92 | 21.13 | 3.43 |
| 2022 (9) | 17.85 | -39.92 | 5.84 | -70.73 | 15.34 | 42.44 | 10.02 | -60.38 | 6.50 | -69.45 | 4.29 | -76.26 | 2.70 | -73.94 | 0.38 | -20.83 | 26.56 | -27.83 | 71.19 | -6.25 | 58.25 | -26.14 | 41.75 | 97.6 | 0.75 | -11.67 | 20.43 | 7.02 |
| 2021 (8) | 29.71 | -5.92 | 19.95 | -10.26 | 10.77 | 12.06 | 25.29 | -0.35 | 21.28 | 4.98 | 18.07 | 2.9 | 10.36 | 0.0 | 0.48 | -4.0 | 36.80 | 3.11 | 75.94 | -4.83 | 78.87 | -9.95 | 21.13 | 70.28 | 0.84 | 17.24 | 19.09 | 9.65 |
| 2020 (7) | 31.58 | -8.09 | 22.23 | -12.93 | 9.61 | 8.77 | 25.38 | -14.72 | 20.27 | -13.74 | 17.56 | -8.4 | 10.36 | -10.46 | 0.50 | 2.04 | 35.69 | -8.42 | 79.79 | 23.51 | 87.59 | 2.09 | 12.41 | -12.6 | 0.72 | 8562.24 | 17.41 | 11.53 |
| 2019 (6) | 34.36 | -43.11 | 25.53 | -51.62 | 8.84 | 175.11 | 29.76 | -44.5 | 23.50 | -45.34 | 19.17 | -73.67 | 11.57 | -72.35 | 0.49 | -49.48 | 38.97 | -31.78 | 64.60 | -7.83 | 85.80 | -12.81 | 14.20 | 793.23 | 0.01 | -34.05 | 15.61 | 4.21 |
| 2018 (5) | 60.40 | 132.58 | 52.77 | 246.94 | 3.21 | -34.96 | 53.62 | 223.99 | 42.99 | 231.71 | 72.81 | 358.21 | 41.85 | 363.97 | 0.97 | 42.65 | 57.12 | 160.23 | 70.09 | -16.31 | 98.41 | 7.08 | 1.59 | -80.36 | 0.01 | 0 | 14.98 | -28.5 |
| 2017 (4) | 25.97 | 9.9 | 15.21 | 22.37 | 4.94 | -7.47 | 16.55 | 15.9 | 12.96 | 4.35 | 15.89 | 9.66 | 9.02 | 4.64 | 0.68 | 1.49 | 21.95 | 8.93 | 83.75 | 8.08 | 91.91 | 5.54 | 8.09 | -37.34 | 0.00 | 0 | 20.95 | -6.39 |
| 2016 (3) | 23.63 | 30.84 | 12.43 | 91.82 | 5.34 | -18.2 | 14.28 | 56.07 | 12.42 | 57.61 | 14.49 | 81.35 | 8.62 | 70.02 | 0.67 | 9.84 | 20.15 | 23.39 | 77.49 | 11.37 | 87.08 | 22.96 | 12.92 | -55.73 | 0.00 | 0 | 22.38 | -5.17 |
| 2015 (2) | 18.06 | 20.88 | 6.48 | 125.78 | 6.53 | -29.52 | 9.15 | 89.44 | 7.88 | 78.28 | 7.99 | 93.0 | 5.07 | 78.52 | 0.61 | 7.02 | 16.33 | 9.82 | 69.58 | 7.18 | 70.82 | 19.46 | 29.18 | -28.34 | 0.00 | 0 | 23.60 | 3.24 |
| 2014 (1) | 14.94 | 0 | 2.87 | 0 | 9.26 | -30.88 | 4.83 | 0 | 4.42 | 0 | 4.14 | 0 | 2.84 | 0 | 0.57 | 5.56 | 14.87 | 37.18 | 64.92 | 1.07 | 59.29 | -20.84 | 40.71 | 62.14 | 0.00 | 0 | 22.86 | -1.17 |
