- 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) | 33.22 | 11.14 | 17.43 | 10.86 | 159.81 | 6.58 | 11.36 | 124.95 | 4.41 | 9.55 | 132.93 | -45.86 | 0.82 | 164.52 | -49.07 | 0.61 | 84.85 | -39.6 | 0.05 | 25.0 | 0.0 | 24.48 | 22.46 | 6.07 | 78.05 | -0.4 | -7.69 | 95.63 | 15.46 | 2.41 | 4.37 | -74.58 | -29.89 | 18.83 | 5.55 | 17.03 |
| 23Q3 (19) | 29.89 | 8.45 | -11.38 | 4.18 | -34.07 | -62.24 | 5.05 | -40.59 | -49.7 | 4.10 | -31.67 | -53.93 | 0.31 | -38.0 | -56.34 | 0.33 | -21.43 | -36.54 | 0.04 | -20.0 | 0.0 | 19.99 | -8.68 | -17.23 | 78.36 | -4.63 | -6.41 | 82.83 | 10.84 | -24.8 | 17.17 | -32.06 | 269.26 | 17.84 | 5.94 | 9.25 |
| 23Q2 (18) | 27.56 | 1.03 | -20.85 | 6.34 | -18.82 | -68.72 | 8.50 | -4.39 | -44.7 | 6.00 | -20.95 | -47.6 | 0.50 | -20.63 | -68.75 | 0.42 | -14.29 | -57.14 | 0.05 | 0.0 | -28.57 | 21.89 | -1.71 | -6.01 | 82.16 | 2.55 | -9.31 | 74.73 | -15.11 | -43.27 | 25.27 | 110.99 | 179.23 | 16.84 | 0.66 | 45.42 |
| 23Q1 (17) | 27.28 | -3.57 | -2.15 | 7.81 | -23.36 | -52.0 | 8.89 | -18.29 | -23.3 | 7.59 | -56.97 | -16.13 | 0.63 | -60.87 | -61.82 | 0.49 | -51.49 | -50.51 | 0.05 | 0.0 | -44.44 | 22.27 | -3.51 | 26.03 | 80.12 | -5.24 | -10.65 | 88.02 | -5.74 | -37.28 | 11.98 | 92.42 | 129.7 | 16.73 | 3.98 | 84.05 |
| 22Q4 (16) | 28.29 | -16.13 | 52.34 | 10.19 | -7.95 | 20.88 | 10.88 | 8.37 | 48.84 | 17.64 | 98.2 | 100.68 | 1.61 | 126.76 | 11.81 | 1.01 | 94.23 | 16.09 | 0.05 | 25.0 | -37.5 | 23.08 | -4.43 | 61.06 | 84.55 | 0.98 | -11.21 | 93.39 | -15.22 | -18.85 | 6.23 | 161.37 | 140.4 | 16.09 | -1.47 | 92.23 |
| 22Q3 (15) | 33.73 | -3.13 | 45.89 | 11.07 | -45.39 | 34.18 | 10.04 | -34.68 | 166.67 | 8.90 | -22.27 | 147.77 | 0.71 | -55.62 | 140.34 | 0.52 | -46.94 | 165.0 | 0.04 | -42.86 | -20.0 | 24.15 | 3.69 | 864.24 | 83.73 | -7.57 | -12.0 | 110.14 | -16.38 | 301.11 | -10.14 | 68.2 | -106.55 | 16.33 | 41.02 | 88.79 |
| 22Q2 (14) | 34.82 | 24.89 | 21.07 | 20.27 | 24.59 | 133.79 | 15.37 | 32.61 | -45.11 | 11.45 | 26.52 | -58.14 | 1.60 | -3.03 | -43.06 | 0.98 | -1.01 | -37.97 | 0.07 | -22.22 | 40.0 | 23.29 | 31.81 | -39.57 | 90.59 | 1.03 | 6.34 | 131.72 | -6.13 | 325.82 | -31.90 | 20.9 | -146.19 | 11.58 | 27.39 | -24.85 |
| 22Q1 (13) | 27.88 | 50.13 | 11.34 | 16.27 | 93.0 | 137.87 | 11.59 | 58.55 | -56.58 | 9.05 | 2.96 | -64.09 | 1.65 | 14.58 | -49.39 | 0.99 | 13.79 | -42.11 | 0.09 | 12.5 | 50.0 | 17.67 | 23.31 | -50.64 | 89.67 | -5.83 | -8.22 | 140.33 | 21.94 | 447.98 | -40.33 | -161.71 | -154.21 | 9.09 | 8.6 | -31.55 |
| 21Q4 (12) | 18.57 | -19.68 | -17.02 | 8.43 | 2.18 | 6.57 | 7.31 | 148.54 | -39.93 | 8.79 | 147.18 | -17.0 | 1.44 | 181.82 | -22.58 | 0.87 | 208.75 | -13.0 | 0.08 | 60.0 | 0.0 | 14.33 | 553.48 | -26.17 | 95.22 | 0.07 | -16.16 | 115.08 | 310.12 | 76.73 | -15.41 | -109.96 | -143.93 | 8.37 | -3.24 | -12.72 |
| 21Q3 (11) | 23.12 | -19.61 | 18.75 | 8.25 | -4.84 | 1245.83 | -15.06 | -153.79 | -280.36 | -18.63 | -168.12 | -339.15 | -1.76 | -162.63 | -283.33 | -0.80 | -150.63 | -242.86 | 0.05 | 0.0 | -16.67 | -3.16 | -108.2 | -116.83 | 95.15 | 11.69 | -20.18 | -54.77 | -277.05 | -533.75 | 154.77 | 124.09 | 42.46 | 8.65 | -43.87 | -26.69 |
| 21Q2 (10) | 28.76 | 14.86 | 181.13 | 8.67 | 26.75 | 205.47 | 28.00 | 4.91 | 761.54 | 27.35 | 8.53 | 524.43 | 2.81 | -13.8 | 602.5 | 1.58 | -7.6 | 444.83 | 0.05 | -16.67 | 25.0 | 38.54 | 7.65 | 145.01 | 85.19 | -12.8 | -31.39 | 30.93 | 20.79 | 112.27 | 69.07 | -7.16 | -80.39 | 15.41 | 16.04 | 0 |
| 21Q1 (9) | 25.04 | 11.89 | 37.81 | 6.84 | -13.53 | 392.09 | 26.69 | 119.31 | 1821.94 | 25.20 | 137.96 | 1684.91 | 3.26 | 75.27 | 2017.65 | 1.71 | 71.0 | 4175.0 | 0.06 | -25.0 | 20.0 | 35.80 | 84.44 | 306.36 | 97.70 | -13.97 | -15.34 | 25.61 | -60.67 | 129.17 | 74.39 | 112.08 | -60.39 | 13.28 | 38.48 | 3.43 |
| 20Q4 (8) | 22.38 | 14.95 | 14.01 | 7.91 | 1198.61 | 251.56 | 12.17 | 45.75 | 124.95 | 10.59 | 35.94 | 160.84 | 1.86 | 93.75 | 220.69 | 1.00 | 78.57 | 170.27 | 0.08 | 33.33 | 33.33 | 19.41 | 3.35 | 42.09 | 113.57 | -4.72 | -10.37 | 65.12 | 853.49 | 56.45 | 35.08 | -67.71 | -39.91 | 9.59 | -18.73 | 0 |
| 20Q3 (7) | 19.47 | 90.32 | -25.91 | -0.72 | 91.24 | -112.83 | 8.35 | 156.92 | -6.7 | 7.79 | 77.85 | -5.58 | 0.96 | 140.0 | 4.35 | 0.56 | 93.1 | 7.69 | 0.06 | 50.0 | 20.0 | 18.78 | 19.39 | -3.15 | 119.20 | -4.0 | -9.01 | -8.64 | 96.57 | -113.83 | 108.64 | -69.15 | 192.97 | 11.80 | 0 | -16.07 |
| 20Q2 (6) | 10.23 | -43.7 | -61.58 | -8.22 | -691.37 | -194.7 | 3.25 | 309.68 | -65.61 | 4.38 | 375.47 | -47.23 | 0.40 | 335.29 | -63.3 | 0.29 | 625.0 | -50.85 | 0.04 | -20.0 | -33.33 | 15.73 | 78.55 | -13.38 | 124.17 | 7.6 | -7.89 | -252.11 | -187.13 | -373.96 | 352.11 | 87.49 | 4316.08 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 18.17 | -7.44 | -36.82 | 1.39 | -38.22 | -85.83 | -1.55 | -128.65 | -113.43 | -1.59 | -139.16 | -114.74 | -0.17 | -129.31 | -113.18 | 0.04 | -89.19 | -94.37 | 0.05 | -16.67 | 0.0 | 8.81 | -35.51 | -58.29 | 115.40 | -8.93 | -10.42 | -87.80 | -310.96 | -203.46 | 187.80 | 221.7 | 1165.8 | 12.84 | 0 | -5.45 |
| 19Q4 (4) | 19.63 | -25.3 | 0.0 | 2.25 | -59.89 | 0.0 | 5.41 | -39.55 | 0.0 | 4.06 | -50.79 | 0.0 | 0.58 | -36.96 | 0.0 | 0.37 | -28.85 | 0.0 | 0.06 | 20.0 | 0.0 | 13.66 | -29.55 | 0.0 | 126.71 | -3.27 | 0.0 | 41.62 | -33.41 | 0.0 | 58.38 | 57.42 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 26.28 | -1.31 | 0.0 | 5.61 | -35.37 | 0.0 | 8.95 | -5.29 | 0.0 | 8.25 | -0.6 | 0.0 | 0.92 | -15.6 | 0.0 | 0.52 | -11.86 | 0.0 | 0.05 | -16.67 | 0.0 | 19.39 | 6.77 | 0.0 | 131.00 | -2.82 | 0.0 | 62.50 | -32.08 | 0.0 | 37.08 | 365.09 | 0.0 | 14.06 | 20.58 | 0.0 |
| 19Q2 (2) | 26.63 | -7.41 | 0.0 | 8.68 | -11.52 | 0.0 | 9.45 | -18.11 | 0.0 | 8.30 | -23.08 | 0.0 | 1.09 | -15.5 | 0.0 | 0.59 | -16.9 | 0.0 | 0.06 | 20.0 | 0.0 | 18.16 | -14.02 | 0.0 | 134.80 | 4.64 | 0.0 | 92.03 | 8.44 | 0.0 | 7.97 | -46.26 | 0.0 | 11.66 | -14.14 | 0.0 |
| 19Q1 (1) | 28.76 | 0.0 | 0.0 | 9.81 | 0.0 | 0.0 | 11.54 | 0.0 | 0.0 | 10.79 | 0.0 | 0.0 | 1.29 | 0.0 | 0.0 | 0.71 | 0.0 | 0.0 | 0.05 | 0.0 | 0.0 | 21.12 | 0.0 | 0.0 | 128.82 | 0.0 | 0.0 | 84.87 | 0.0 | 0.0 | 14.84 | 0.0 | 0.0 | 13.58 | 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) | 29.50 | -4.44 | 7.40 | -52.1 | 8.84 | 48.51 | 8.55 | -30.37 | 6.89 | -38.97 | 2.25 | -59.61 | 1.83 | -47.26 | 0.18 | -30.77 | 22.23 | 4.32 | 78.05 | -7.69 | 86.50 | -31.25 | 13.50 | 0 | 3.92 | 0.31 | 17.56 | 43.23 |
| 2022 (9) | 30.87 | 32.43 | 15.45 | 92.16 | 5.95 | -4.77 | 12.28 | -0.89 | 11.29 | -3.17 | 5.57 | -4.3 | 3.47 | 3.89 | 0.26 | 8.33 | 21.31 | -1.62 | 84.55 | -11.21 | 125.83 | 93.87 | -25.77 | 0 | 3.91 | 1.54 | 12.26 | 9.46 |
| 2021 (8) | 23.31 | 25.8 | 8.04 | 458.33 | 6.25 | -2.64 | 12.39 | 87.73 | 11.66 | 91.15 | 5.82 | 94.0 | 3.34 | 80.54 | 0.24 | 9.09 | 21.66 | 33.13 | 95.22 | -16.16 | 64.90 | 197.72 | 35.16 | -55.11 | 3.85 | 0.54 | 11.20 | -3.03 |
| 2020 (7) | 18.53 | -26.18 | 1.44 | -77.78 | 6.42 | 7.28 | 6.60 | -24.23 | 6.10 | -20.78 | 3.00 | -22.88 | 1.85 | -18.86 | 0.22 | -4.35 | 16.27 | -9.06 | 113.57 | -10.37 | 21.80 | -70.69 | 78.33 | 205.82 | 3.83 | 1.87 | 11.55 | -9.77 |
| 2019 (6) | 25.10 | -11.5 | 6.48 | -27.44 | 5.98 | 106.83 | 8.71 | -24.59 | 7.70 | -26.6 | 3.89 | -24.32 | 2.28 | -18.86 | 0.23 | 0.0 | 17.89 | 6.42 | 126.71 | 15.26 | 74.39 | -3.84 | 25.61 | 12.74 | 3.76 | -9.95 | 12.80 | -14.95 |
| 2018 (5) | 28.36 | -4.58 | 8.93 | -8.97 | 2.89 | -9.67 | 11.55 | -5.25 | 10.49 | -8.86 | 5.14 | -0.77 | 2.81 | 1.44 | 0.23 | 4.55 | 16.81 | -4.05 | 109.93 | 1.83 | 77.36 | -3.84 | 22.72 | 16.19 | 4.17 | 0 | 15.05 | -9.88 |
| 2017 (4) | 29.72 | -8.92 | 9.81 | -21.83 | 3.20 | 3.57 | 12.19 | -22.85 | 11.51 | -13.2 | 5.18 | -19.31 | 2.77 | -18.77 | 0.22 | -4.35 | 17.52 | -18.25 | 107.95 | -0.27 | 80.45 | 1.28 | 19.55 | -4.93 | 0.00 | 0 | 16.70 | 10.89 |
| 2016 (3) | 32.63 | 1.56 | 12.55 | -17.54 | 3.09 | 39.56 | 15.80 | 0.96 | 13.26 | -4.4 | 6.42 | -28.9 | 3.41 | -25.05 | 0.23 | -20.69 | 21.43 | 5.36 | 108.24 | -7.0 | 79.43 | -18.27 | 20.57 | 640.99 | 0.00 | 0 | 15.06 | 30.28 |
| 2015 (2) | 32.13 | 19.84 | 15.22 | 19.94 | 2.22 | 21.94 | 15.65 | 19.56 | 13.87 | 13.22 | 9.03 | -18.65 | 4.55 | -7.33 | 0.29 | -19.44 | 20.34 | 19.37 | 116.39 | -10.85 | 97.18 | 0.26 | 2.78 | -9.51 | 0.00 | 0 | 11.56 | 7.84 |
| 2014 (1) | 26.81 | 0 | 12.69 | 0 | 1.82 | -14.85 | 13.09 | 0 | 12.25 | 0 | 11.10 | 0 | 4.91 | 0 | 0.36 | 5.88 | 17.04 | 15.37 | 130.56 | -29.09 | 96.93 | -16.94 | 3.07 | 0 | 0.00 | 0 | 10.72 | 4.48 |
