- 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) | 14.06 | -12.07 | -14.58 | 7.43 | -16.8 | -15.09 | 5.22 | -56.06 | -23.01 | 3.96 | -58.01 | -30.16 | 1.69 | -62.61 | -26.2 | 1.32 | -55.7 | -19.02 | 0.28 | -6.67 | 7.69 | 6.44 | -49.88 | -16.15 | 49.55 | -8.73 | 20.65 | 142.45 | 89.56 | 9.89 | -42.45 | -270.78 | -46.3 | 3.84 | -15.04 | -14.67 |
| 23Q3 (19) | 15.99 | -0.99 | 42.26 | 8.93 | 5.93 | 758.65 | 11.88 | 22.6 | 154.39 | 9.43 | 26.92 | -76.04 | 4.52 | 50.67 | 255.91 | 2.98 | 40.57 | 267.9 | 0.30 | 11.11 | 30.43 | 12.85 | 20.43 | 123.87 | 54.29 | -19.65 | -20.1 | 75.15 | -13.72 | 234.74 | 24.85 | 92.62 | -67.95 | 4.52 | -5.24 | -35.98 |
| 23Q2 (18) | 16.15 | 4.73 | -16.1 | 8.43 | 6.44 | -22.3 | 9.69 | 27.84 | -21.73 | 7.43 | 24.04 | -22.04 | 3.00 | 32.16 | -46.14 | 2.12 | 20.45 | -29.57 | 0.27 | 0.0 | -12.9 | 10.67 | 25.97 | -18.3 | 67.57 | 75.83 | -32.33 | 87.10 | -16.76 | -0.7 | 12.90 | 378.14 | 4.99 | 4.77 | 3.47 | -14.67 |
| 23Q1 (17) | 15.42 | -6.32 | -20.56 | 7.92 | -9.49 | -30.16 | 7.58 | 11.8 | -42.31 | 5.99 | 5.64 | -42.01 | 2.27 | -0.87 | -63.85 | 1.76 | 7.98 | -49.86 | 0.27 | 3.85 | -20.59 | 8.47 | 10.29 | -37.9 | 38.43 | -6.43 | -51.87 | 104.64 | -19.28 | 21.22 | -4.64 | 84.01 | -133.91 | 4.61 | 2.44 | -15.41 |
| 22Q4 (16) | 16.46 | 46.44 | -0.6 | 8.75 | 741.35 | 3.92 | 6.78 | 45.18 | -20.52 | 5.67 | -85.59 | -13.04 | 2.29 | 80.31 | -34.01 | 1.63 | 101.23 | -15.1 | 0.26 | 13.04 | -10.34 | 7.68 | 33.8 | -15.79 | 41.07 | -39.56 | -49.77 | 129.63 | 477.44 | 31.44 | -29.01 | -137.41 | -2208.23 | 4.50 | -36.26 | -20.21 |
| 22Q3 (15) | 11.24 | -41.61 | -40.31 | 1.04 | -90.41 | -90.48 | 4.67 | -62.28 | -59.43 | 39.35 | 312.91 | 367.9 | 1.27 | -77.2 | -73.15 | 0.81 | -73.09 | -69.89 | 0.23 | -25.81 | -28.12 | 5.74 | -56.05 | -52.25 | 67.95 | -31.95 | -21.77 | 22.45 | -74.41 | -76.29 | 77.55 | 530.98 | 1446.17 | 7.06 | 26.3 | 34.48 |
| 22Q2 (14) | 19.25 | -0.82 | -0.77 | 10.85 | -4.32 | -6.87 | 12.38 | -5.78 | 11.63 | 9.53 | -7.74 | 12.25 | 5.57 | -11.31 | 14.85 | 3.01 | -14.25 | 4.88 | 0.31 | -8.82 | -6.06 | 13.06 | -4.25 | 13.37 | 99.85 | 25.06 | 42.12 | 87.71 | 1.61 | -16.57 | 12.29 | -10.17 | 339.66 | 5.59 | 2.57 | 10.47 |
| 22Q1 (13) | 19.41 | 17.21 | 2.97 | 11.34 | 34.68 | 2.53 | 13.14 | 54.04 | 19.67 | 10.33 | 58.44 | 19.42 | 6.28 | 80.98 | 21.24 | 3.51 | 82.81 | 15.08 | 0.34 | 17.24 | -2.86 | 13.64 | 49.56 | 19.44 | 79.84 | -2.36 | 11.7 | 86.32 | -12.48 | -14.24 | 13.68 | 894.2 | 2186.44 | 5.45 | -3.37 | 5.83 |
| 21Q4 (12) | 16.56 | -12.06 | -4.66 | 8.42 | -22.89 | -12.38 | 8.53 | -25.89 | -7.58 | 6.52 | -22.47 | 18.33 | 3.47 | -26.64 | 18.03 | 1.92 | -28.62 | 10.98 | 0.29 | -9.38 | -6.45 | 9.12 | -24.13 | -6.94 | 81.77 | -5.86 | 12.4 | 98.62 | 4.18 | -4.95 | 1.38 | -72.56 | 132.57 | 5.64 | 7.43 | 1.99 |
| 21Q3 (11) | 18.83 | -2.94 | 12.89 | 10.92 | -6.27 | 19.61 | 11.51 | 3.79 | 20.4 | 8.41 | -0.94 | 12.43 | 4.73 | -2.47 | 6.29 | 2.69 | -6.27 | 6.32 | 0.32 | -3.03 | -3.03 | 12.02 | 4.34 | 17.96 | 86.86 | 23.63 | 14.92 | 94.67 | -9.95 | -0.6 | 5.02 | 197.81 | 15.86 | 5.25 | 3.75 | 10.99 |
| 21Q2 (10) | 19.40 | 2.92 | 8.38 | 11.65 | 5.33 | 9.08 | 11.09 | 1.0 | 11.12 | 8.49 | -1.85 | 26.72 | 4.85 | -6.37 | 22.78 | 2.87 | -5.9 | 22.65 | 0.33 | -5.71 | -2.94 | 11.52 | 0.88 | 9.4 | 70.26 | -1.71 | -15.12 | 105.13 | 4.44 | -2.07 | -5.13 | -682.05 | 26.09 | 5.06 | -1.75 | 0 |
| 21Q1 (9) | 18.85 | 8.52 | 8.9 | 11.06 | 15.09 | 25.25 | 10.98 | 18.96 | 15.95 | 8.65 | 56.99 | 15.03 | 5.18 | 76.19 | 45.92 | 3.05 | 76.3 | 36.77 | 0.35 | 12.9 | 20.69 | 11.42 | 16.53 | 11.74 | 71.48 | -1.75 | 13.51 | 100.66 | -2.99 | 7.85 | -0.66 | 84.48 | -109.84 | 5.15 | -6.87 | 0 |
| 20Q4 (8) | 17.37 | 4.14 | 15.26 | 9.61 | 5.26 | 52.06 | 9.23 | -3.45 | 100.22 | 5.51 | -26.34 | 50.96 | 2.94 | -33.93 | 62.43 | 1.73 | -31.62 | 53.1 | 0.31 | -6.06 | 6.9 | 9.80 | -3.83 | 82.5 | 72.75 | -3.74 | 11.44 | 103.76 | 8.94 | -24.27 | -4.23 | -197.61 | 88.58 | 5.53 | 16.91 | 11.49 |
| 20Q3 (7) | 16.68 | -6.82 | 1.77 | 9.13 | -14.51 | -20.05 | 9.56 | -4.21 | -21.9 | 7.48 | 11.64 | -23.75 | 4.45 | 12.66 | -17.44 | 2.53 | 8.12 | -15.95 | 0.33 | -2.94 | 10.0 | 10.19 | -3.23 | -21.31 | 75.58 | -8.7 | -0.43 | 95.24 | -11.28 | 2.12 | 4.33 | 162.39 | -35.75 | 4.73 | 0 | 127.4 |
| 20Q2 (6) | 17.90 | 3.41 | 13.87 | 10.68 | 20.95 | 29.45 | 9.98 | 5.39 | 12.26 | 6.70 | -10.9 | 15.32 | 3.95 | 11.27 | 39.08 | 2.34 | 4.93 | 40.12 | 0.34 | 17.24 | 21.43 | 10.53 | 3.03 | 9.8 | 82.78 | 31.46 | -9.59 | 107.35 | 15.01 | 15.43 | -6.94 | -204.08 | -199.13 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 17.31 | 14.86 | -8.65 | 8.83 | 39.72 | -9.16 | 9.47 | 105.42 | -15.9 | 7.52 | 106.03 | -12.15 | 3.55 | 96.13 | -1.66 | 2.23 | 97.35 | 2.76 | 0.29 | 0.0 | 20.83 | 10.22 | 90.32 | -15.26 | 62.97 | -3.54 | -2.96 | 93.33 | -31.87 | 7.9 | 6.67 | 118.02 | -50.62 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 15.07 | -8.05 | 0.0 | 6.32 | -44.66 | 0.0 | 4.61 | -62.34 | 0.0 | 3.65 | -62.79 | 0.0 | 1.81 | -66.42 | 0.0 | 1.13 | -62.46 | 0.0 | 0.29 | -3.33 | 0.0 | 5.37 | -58.53 | 0.0 | 65.28 | -14.0 | 0.0 | 137.00 | 46.9 | 0.0 | -37.00 | -649.16 | 0.0 | 4.96 | 138.46 | 0.0 |
| 19Q3 (3) | 16.39 | 4.26 | 0.0 | 11.42 | 38.42 | 0.0 | 12.24 | 37.68 | 0.0 | 9.81 | 68.85 | 0.0 | 5.39 | 89.79 | 0.0 | 3.01 | 80.24 | 0.0 | 0.30 | 7.14 | 0.0 | 12.95 | 35.04 | 0.0 | 75.91 | -17.09 | 0.0 | 93.26 | 0.28 | 0.0 | 6.74 | -3.75 | 0.0 | 2.08 | -50.71 | 0.0 |
| 19Q2 (2) | 15.72 | -17.04 | 0.0 | 8.25 | -15.12 | 0.0 | 8.89 | -21.05 | 0.0 | 5.81 | -32.13 | 0.0 | 2.84 | -21.33 | 0.0 | 1.67 | -23.04 | 0.0 | 0.28 | 16.67 | 0.0 | 9.59 | -20.48 | 0.0 | 91.56 | 41.1 | 0.0 | 93.00 | 7.52 | 0.0 | 7.00 | -48.16 | 0.0 | 4.22 | -37.67 | 0.0 |
| 19Q1 (1) | 18.95 | 0.0 | 0.0 | 9.72 | 0.0 | 0.0 | 11.26 | 0.0 | 0.0 | 8.56 | 0.0 | 0.0 | 3.61 | 0.0 | 0.0 | 2.17 | 0.0 | 0.0 | 0.24 | 0.0 | 0.0 | 12.06 | 0.0 | 0.0 | 64.89 | 0.0 | 0.0 | 86.50 | 0.0 | 0.0 | 13.50 | 0.0 | 0.0 | 6.77 | 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) | 15.41 | -9.62 | 8.19 | -4.21 | 0.24 | -15.08 | 8.66 | -11.36 | 6.76 | -54.48 | 11.16 | -18.72 | 8.35 | -7.43 | 1.14 | -0.87 | 9.68 | -8.16 | 49.55 | 20.65 | 94.58 | 8.16 | 5.42 | -56.83 | 0.56 | -7.19 | 4.43 | -20.75 |
| 2022 (9) | 17.05 | -7.59 | 8.55 | -19.03 | 0.29 | -2.01 | 9.77 | -7.57 | 14.85 | 84.47 | 13.73 | -26.58 | 9.02 | -15.54 | 1.15 | -12.21 | 10.54 | -4.7 | 41.07 | -49.77 | 87.45 | -12.4 | 12.55 | 7140.78 | 0.61 | 28.48 | 5.59 | 6.07 |
| 2021 (8) | 18.45 | 6.52 | 10.56 | 10.11 | 0.29 | -22.58 | 10.57 | 10.45 | 8.05 | 18.56 | 18.70 | 33.19 | 10.68 | 25.65 | 1.31 | 7.38 | 11.06 | 8.54 | 81.77 | 12.4 | 99.83 | -0.51 | 0.17 | 0 | 0.47 | -32.82 | 5.27 | 3.94 |
| 2020 (7) | 17.32 | 4.91 | 9.59 | 7.03 | 0.38 | 4.39 | 9.57 | 3.13 | 6.79 | -2.72 | 14.04 | 5.8 | 8.50 | 6.92 | 1.22 | 10.91 | 10.19 | 1.6 | 72.75 | 11.44 | 100.34 | 4.02 | -0.23 | 0 | 0.71 | -12.62 | 5.07 | 13.93 |
| 2019 (6) | 16.51 | -40.7 | 8.96 | -48.33 | 0.36 | 158.3 | 9.28 | -49.73 | 6.98 | -52.68 | 13.27 | -65.05 | 7.95 | -60.13 | 1.10 | -17.29 | 10.03 | -46.99 | 65.28 | -19.16 | 96.46 | 2.66 | 3.54 | -41.35 | 0.81 | 28.82 | 4.45 | -39.95 |
| 2018 (5) | 27.84 | 61.77 | 17.34 | 114.07 | 0.14 | -17.23 | 18.46 | 114.15 | 14.75 | 105.15 | 37.97 | 105.02 | 19.94 | 132.67 | 1.33 | 15.65 | 18.92 | 107.46 | 80.75 | -27.58 | 93.96 | -0.14 | 6.04 | 2.21 | 0.63 | 0 | 7.41 | 32.09 |
| 2017 (4) | 17.21 | 17.72 | 8.10 | 44.39 | 0.17 | -4.44 | 8.62 | 53.11 | 7.19 | 56.3 | 18.52 | 39.25 | 8.57 | 39.12 | 1.15 | -9.45 | 9.12 | 48.78 | 111.50 | -19.21 | 94.09 | -5.71 | 5.91 | 1302.95 | 0.00 | 0 | 5.61 | 17.12 |
| 2016 (3) | 14.62 | 4.5 | 5.61 | 11.09 | 0.18 | 4.78 | 5.63 | 0.18 | 4.60 | 0.22 | 13.30 | 1.92 | 6.16 | 0.33 | 1.27 | 1.6 | 6.13 | -1.29 | 138.02 | 17.07 | 99.79 | 11.04 | 0.42 | -95.84 | 0.00 | 0 | 4.79 | -6.81 |
| 2015 (2) | 13.99 | -2.78 | 5.05 | 22.87 | 0.17 | 3.41 | 5.62 | 11.73 | 4.59 | 2.46 | 13.05 | -3.97 | 6.14 | -4.95 | 1.25 | -6.72 | 6.21 | 9.91 | 117.90 | -14.37 | 89.87 | 10.1 | 10.13 | -44.87 | 0.00 | 0 | 5.14 | 6.64 |
| 2014 (1) | 14.39 | 0 | 4.11 | 0 | 0.16 | -25.34 | 5.03 | 0 | 4.48 | 0 | 13.59 | 0 | 6.46 | 0 | 1.34 | -12.99 | 5.65 | -17.4 | 137.68 | 18.83 | 81.63 | 47.62 | 18.37 | -58.9 | 0.00 | 0 | 4.82 | -10.74 |
