- 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) | 17.90 | 10.7 | 29.34 | 11.57 | 18.91 | 40.41 | 8.13 | 32.2 | 96.38 | 6.63 | 42.89 | 96.74 | 1.73 | 40.65 | 118.99 | 0.77 | 26.23 | 63.83 | 0.08 | 0.0 | 14.29 | 32.00 | 8.0 | 9.14 | 223.64 | -3.59 | -1.18 | 141.79 | -9.61 | -29.1 | -41.79 | 28.96 | 58.21 | 31.59 | 15.54 | 5.72 |
| 23Q3 (19) | 16.17 | 11.75 | -5.16 | 9.73 | 12.23 | -12.5 | 6.15 | 13.26 | 54.52 | 4.64 | -9.02 | 79.84 | 1.23 | -5.38 | 89.23 | 0.61 | -1.61 | 45.24 | 0.08 | 0.0 | 14.29 | 29.63 | -1.1 | 7.16 | 231.97 | -2.6 | -1.61 | 156.86 | -3.11 | -44.74 | -58.82 | 1.18 | 67.44 | 27.34 | -2.64 | -3.77 |
| 23Q2 (18) | 14.47 | 41.31 | -32.64 | 8.67 | 143.54 | -43.26 | 5.43 | 231.8 | -54.48 | 5.10 | 218.06 | -38.26 | 1.30 | 231.31 | -41.44 | 0.62 | 1133.33 | -27.91 | 0.08 | 14.29 | 0.0 | 29.96 | 31.4 | -12.22 | 238.15 | -0.86 | -1.44 | 161.90 | 287.81 | 26.49 | -59.52 | -131.39 | -112.59 | 28.08 | -14.31 | 1.19 |
| 23Q1 (17) | 10.24 | -26.01 | -32.32 | 3.56 | -56.8 | -59.08 | -4.12 | -199.52 | -186.01 | -4.32 | -228.19 | -215.2 | -0.99 | -225.32 | -207.61 | -0.06 | -112.77 | -112.5 | 0.07 | 0.0 | 0.0 | 22.80 | -22.24 | -19.89 | 240.22 | 6.15 | -6.28 | -86.21 | -143.1 | -146.91 | 189.66 | 289.66 | 333.91 | 32.77 | 9.67 | 2.25 |
| 22Q4 (16) | 13.84 | -18.83 | -35.05 | 8.24 | -25.9 | -42.98 | 4.14 | 4.02 | -54.2 | 3.37 | 30.62 | -74.62 | 0.79 | 21.54 | -75.91 | 0.47 | 11.9 | -60.17 | 0.07 | 0.0 | 0.0 | 29.32 | 6.04 | -9.2 | 226.30 | -4.02 | -3.57 | 200.00 | -29.55 | 25.22 | -100.00 | 44.64 | -67.44 | 29.88 | 5.17 | 8.65 |
| 22Q3 (15) | 17.05 | -20.62 | -12.97 | 11.12 | -27.23 | -16.95 | 3.98 | -66.64 | -59.59 | 2.58 | -68.77 | -66.75 | 0.65 | -70.72 | -67.01 | 0.42 | -51.16 | -46.84 | 0.07 | -12.5 | 0.0 | 27.65 | -18.99 | -17.17 | 235.77 | -2.43 | -4.62 | 283.87 | 121.77 | 106.93 | -180.65 | -545.16 | -403.23 | 28.41 | 2.38 | -1.53 |
| 22Q2 (14) | 21.48 | 41.97 | 20.4 | 15.28 | 75.63 | 28.84 | 11.93 | 149.06 | 46.56 | 8.26 | 120.27 | 27.47 | 2.22 | 141.3 | 36.2 | 0.86 | 79.17 | 26.47 | 0.08 | 14.29 | 14.29 | 34.13 | 19.92 | 5.96 | 241.64 | -5.72 | -3.63 | 128.00 | -30.35 | -12.35 | -28.00 | 65.47 | 39.17 | 27.75 | -13.42 | -6.63 |
| 22Q1 (13) | 15.13 | -29.0 | 31.79 | 8.70 | -39.79 | 62.62 | 4.79 | -47.01 | 383.84 | 3.75 | -71.76 | 581.82 | 0.92 | -71.95 | 607.69 | 0.48 | -59.32 | 84.62 | 0.07 | 0.0 | 16.67 | 28.46 | -11.86 | 4.79 | 256.31 | 9.22 | -1.42 | 183.78 | 15.06 | -66.15 | -81.08 | -35.76 | 81.69 | 32.05 | 16.55 | -7.9 |
| 21Q4 (12) | 21.31 | 8.78 | 56.0 | 14.45 | 7.92 | 72.85 | 9.04 | -8.22 | 105.92 | 13.28 | 71.13 | 273.03 | 3.28 | 66.5 | 285.88 | 1.18 | 49.37 | 156.52 | 0.07 | 0.0 | 16.67 | 32.29 | -3.27 | 5.63 | 234.67 | -5.06 | -10.83 | 159.72 | 16.43 | -14.81 | -59.72 | -66.37 | 34.1 | 27.50 | -4.68 | 0.59 |
| 21Q3 (11) | 19.59 | 9.81 | 43.1 | 13.39 | 12.9 | 56.43 | 9.85 | 21.01 | 122.35 | 7.76 | 19.75 | 71.3 | 1.97 | 20.86 | 74.34 | 0.79 | 16.18 | 49.06 | 0.07 | 0.0 | 0.0 | 33.38 | 3.63 | 12.31 | 247.19 | -1.42 | -11.68 | 137.18 | -6.06 | -29.27 | -35.90 | 22.02 | 61.79 | 28.85 | -2.93 | 0.21 |
| 21Q2 (10) | 17.84 | 55.4 | 67.83 | 11.86 | 121.68 | 135.32 | 8.14 | 722.22 | 562.5 | 6.48 | 1078.18 | 476.74 | 1.63 | 1153.85 | 497.56 | 0.68 | 161.54 | 423.08 | 0.07 | 16.67 | 16.67 | 32.21 | 18.59 | 28.63 | 250.75 | -3.55 | -10.58 | 146.03 | -73.1 | 150.07 | -46.03 | 89.61 | -111.51 | 29.72 | -14.6 | 0 |
| 21Q1 (9) | 11.48 | -15.96 | 46.62 | 5.35 | -36.0 | 94.55 | 0.99 | -77.45 | 139.13 | 0.55 | -84.55 | 121.74 | 0.13 | -84.71 | 123.21 | 0.26 | -43.48 | 188.89 | 0.06 | 0.0 | 0.0 | 27.16 | -11.15 | 6.38 | 259.99 | -1.21 | -8.36 | 542.86 | 189.52 | 612.7 | -442.86 | -388.67 | -315.1 | 34.80 | 27.29 | 0 |
| 20Q4 (8) | 13.66 | -0.22 | 0.74 | 8.36 | -2.34 | 3.72 | 4.39 | -0.9 | 14.32 | 3.56 | -21.41 | 25.35 | 0.85 | -24.78 | 18.06 | 0.46 | -13.21 | 6.98 | 0.06 | -14.29 | -14.29 | 30.57 | 2.86 | 7.49 | 263.18 | -5.97 | -6.84 | 187.50 | -3.32 | -10.86 | -90.62 | 3.53 | 17.87 | 27.34 | -5.04 | -10.65 |
| 20Q3 (7) | 13.69 | 28.79 | 3.95 | 8.56 | 69.84 | 7.4 | 4.43 | 351.7 | 17.51 | 4.53 | 363.37 | 47.08 | 1.13 | 375.61 | 46.75 | 0.53 | 307.69 | 20.45 | 0.07 | 16.67 | 16.67 | 29.72 | 18.69 | 2.84 | 279.89 | -0.19 | -3.09 | 193.94 | 166.49 | -7.96 | -93.94 | -123.48 | 15.15 | 28.79 | 0 | -0.96 |
| 20Q2 (6) | 10.63 | 35.76 | -11.05 | 5.04 | 83.27 | -30.86 | -1.76 | 30.43 | -180.37 | -1.72 | 32.02 | -187.31 | -0.41 | 26.79 | -185.42 | 0.13 | 44.44 | -63.89 | 0.06 | 0.0 | 0.0 | 25.04 | -1.92 | -9.01 | 280.42 | -1.16 | -5.24 | -291.67 | -175.46 | -188.05 | 400.00 | 94.29 | 272.97 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 7.83 | -42.26 | 4.26 | 2.75 | -65.88 | 42.49 | -2.53 | -165.89 | 18.12 | -2.53 | -189.08 | 28.93 | -0.56 | -177.78 | 27.27 | 0.09 | -79.07 | 50.0 | 0.06 | -14.29 | -14.29 | 25.53 | -10.23 | -4.99 | 283.72 | 0.43 | -2.64 | -105.88 | -150.34 | -62.9 | 205.88 | 286.58 | 24.78 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 13.56 | 2.96 | 0.0 | 8.06 | 1.13 | 0.0 | 3.84 | 1.86 | 0.0 | 2.84 | -7.79 | 0.0 | 0.72 | -6.49 | 0.0 | 0.43 | -2.27 | 0.0 | 0.07 | 16.67 | 0.0 | 28.44 | -1.59 | 0.0 | 282.50 | -2.19 | 0.0 | 210.34 | -0.18 | 0.0 | -110.34 | 0.33 | 0.0 | 30.60 | 5.26 | 0.0 |
| 19Q3 (3) | 13.17 | 10.21 | 0.0 | 7.97 | 9.33 | 0.0 | 3.77 | 72.15 | 0.0 | 3.08 | 56.35 | 0.0 | 0.77 | 60.42 | 0.0 | 0.44 | 22.22 | 0.0 | 0.06 | 0.0 | 0.0 | 28.90 | 5.01 | 0.0 | 288.82 | -2.4 | 0.0 | 210.71 | -36.39 | 0.0 | -110.71 | 52.12 | 0.0 | 29.07 | -0.55 | 0.0 |
| 19Q2 (2) | 11.95 | 59.12 | 0.0 | 7.29 | 277.72 | 0.0 | 2.19 | 170.87 | 0.0 | 1.97 | 155.34 | 0.0 | 0.48 | 162.34 | 0.0 | 0.36 | 500.0 | 0.0 | 0.06 | -14.29 | 0.0 | 27.52 | 2.42 | 0.0 | 295.93 | 1.55 | 0.0 | 331.25 | 609.62 | 0.0 | -231.25 | -240.15 | 0.0 | 29.23 | -13.75 | 0.0 |
| 19Q1 (1) | 7.51 | 0.0 | 0.0 | 1.93 | 0.0 | 0.0 | -3.09 | 0.0 | 0.0 | -3.56 | 0.0 | 0.0 | -0.77 | 0.0 | 0.0 | 0.06 | 0.0 | 0.0 | 0.07 | 0.0 | 0.0 | 26.87 | 0.0 | 0.0 | 291.40 | 0.0 | 0.0 | -65.00 | 0.0 | 0.0 | 165.00 | 0.0 | 0.0 | 33.89 | 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) | 14.86 | -12.54 | 8.55 | -21.85 | 20.55 | 4.52 | 4.16 | -34.18 | 3.24 | -28.95 | 3.18 | -28.22 | 1.93 | -13.84 | 0.30 | 3.45 | 28.78 | -3.87 | 223.64 | -1.18 | 205.34 | 18.44 | -105.34 | 0 | 0.40 | 60.94 | 29.87 | 1.32 |
| 2022 (9) | 16.99 | -4.07 | 10.94 | -4.12 | 19.66 | -2.5 | 6.32 | -11.61 | 4.56 | -36.49 | 4.43 | -36.44 | 2.24 | -22.49 | 0.29 | 3.57 | 29.94 | -4.53 | 226.30 | -3.57 | 173.37 | 8.35 | -73.37 | 0 | 0.25 | 17.94 | 29.48 | -2.06 |
| 2021 (8) | 17.71 | 53.2 | 11.41 | 81.69 | 20.17 | -7.34 | 7.15 | 467.46 | 7.18 | 558.72 | 6.97 | 590.1 | 2.89 | 138.84 | 0.28 | 12.0 | 31.36 | 12.93 | 234.67 | -10.83 | 160.00 | -67.64 | -59.55 | 0 | 0.21 | 1071.07 | 30.10 | 0.94 |
| 2020 (7) | 11.56 | -1.03 | 6.28 | -2.64 | 21.77 | 2.9 | 1.26 | -31.15 | 1.09 | -11.38 | 1.01 | -13.68 | 1.21 | -27.11 | 0.25 | -21.88 | 27.77 | -0.68 | 263.18 | -6.84 | 494.44 | 40.89 | -394.44 | 0 | 0.02 | -31.1 | 29.82 | -2.58 |
| 2019 (6) | 11.68 | 33.33 | 6.45 | 69.29 | 21.15 | 206.13 | 1.83 | -27.38 | 1.23 | -40.0 | 1.17 | -39.38 | 1.66 | 22.96 | 0.32 | -28.89 | 27.96 | 152.35 | 282.50 | 152.25 | 350.94 | 131.82 | -250.94 | 0 | 0.03 | -16.52 | 30.61 | 1.26 |
| 2018 (5) | 8.76 | 0.81 | 3.81 | 3.53 | 6.91 | 12.89 | 2.52 | -5.62 | 2.05 | -5.09 | 1.93 | 0.52 | 1.35 | -1.46 | 0.45 | 4.65 | 11.08 | 5.42 | 111.99 | 3.34 | 151.39 | 9.68 | -51.39 | 0 | 0.03 | 0 | 30.23 | -0.98 |
| 2017 (4) | 8.69 | -11.78 | 3.68 | -11.96 | 6.12 | 8.7 | 2.67 | 38.34 | 2.16 | 20.67 | 1.92 | 17.07 | 1.37 | 10.48 | 0.43 | 2.38 | 10.51 | 11.33 | 108.37 | 0.58 | 138.03 | -36.1 | -38.03 | 0 | 0.00 | 0 | 30.53 | -6.32 |
| 2016 (3) | 9.85 | 26.12 | 4.18 | 30.62 | 5.63 | 27.12 | 1.93 | 29.53 | 1.79 | 103.41 | 1.64 | 92.94 | 1.24 | 69.86 | 0.42 | -2.33 | 9.44 | 28.09 | 107.75 | -18.67 | 216.00 | 0.1 | -116.00 | 0 | 0.00 | 0 | 32.59 | 2.84 |
| 2015 (2) | 7.81 | -21.74 | 3.20 | -42.34 | 4.43 | 0.33 | 1.49 | -71.18 | 0.88 | -79.25 | 0.85 | -80.37 | 0.73 | -68.8 | 0.43 | -8.51 | 7.37 | -32.88 | 132.48 | 15.95 | 215.79 | 101.11 | -115.79 | 0 | 0.00 | 0 | 31.69 | 4.24 |
| 2014 (1) | 9.98 | 0 | 5.55 | 0 | 4.42 | 7.7 | 5.17 | 0 | 4.24 | 0 | 4.33 | 0 | 2.34 | 0 | 0.47 | 4.44 | 10.98 | 18.57 | 114.26 | -6.54 | 107.30 | -10.1 | -7.30 | 0 | 0.00 | 0 | 30.40 | -2.0 |
