- 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) | 29.43 | 33.35 | 32.33 | 13.13 | 681.55 | 2125.42 | 5.80 | 647.17 | 253.85 | 5.71 | 392.82 | 225.49 | 0.79 | 429.17 | 271.74 | 0.63 | 600.0 | 625.0 | 0.07 | 16.67 | 40.0 | 34.57 | 7.36 | 20.75 | 95.67 | 6.8 | -0.81 | 226.60 | 242.43 | 1535.11 | -126.60 | -148.86 | -209.33 | 18.33 | -14.78 | -1.29 |
| 23Q3 (19) | 22.07 | 10.07 | 38.2 | 1.68 | 138.89 | 132.75 | -1.06 | 88.44 | -113.84 | -1.95 | 72.14 | -131.15 | -0.24 | 70.37 | -134.29 | 0.09 | 142.86 | -79.55 | 0.06 | 0.0 | 20.0 | 32.20 | 25.63 | -13.6 | 89.58 | -1.71 | -9.52 | -159.09 | -438.77 | -137.84 | 259.09 | 391.05 | 54.94 | 21.51 | -7.16 | 0.05 |
| 23Q2 (18) | 20.05 | 75.88 | -33.65 | -4.32 | 79.23 | -130.62 | -9.17 | 52.8 | -172.66 | -7.00 | 58.18 | -168.16 | -0.81 | 41.3 | -151.92 | -0.21 | 60.38 | -125.3 | 0.06 | 50.0 | -14.29 | 25.63 | 6.22 | -26.1 | 91.14 | -11.3 | -15.67 | 46.96 | -56.12 | -57.94 | 52.76 | 852.2 | 546.81 | 23.17 | -28.04 | 5.46 |
| 23Q1 (17) | 11.40 | -48.74 | -62.78 | -20.80 | -3625.42 | -227.06 | -19.43 | -415.38 | -209.77 | -16.74 | -267.91 | -219.23 | -1.38 | -200.0 | -163.3 | -0.53 | -341.67 | -146.49 | 0.04 | -20.0 | -50.0 | 24.13 | -15.72 | -37.62 | 102.75 | 6.53 | -8.48 | 107.01 | 777.76 | 15.78 | -7.01 | -106.06 | -192.68 | 32.20 | 73.4 | 50.47 |
| 22Q4 (16) | 22.24 | 39.26 | -45.09 | 0.59 | 111.5 | -97.88 | -3.77 | -149.22 | -113.27 | -4.55 | -172.68 | -119.44 | -0.46 | -165.71 | -109.81 | -0.12 | -127.27 | -105.02 | 0.05 | 0.0 | -50.0 | 28.63 | -23.18 | -35.17 | 96.45 | -2.58 | -5.21 | -15.79 | 76.39 | -116.1 | 115.79 | -30.76 | 5686.65 | 18.57 | -13.63 | -1.01 |
| 22Q3 (15) | 15.97 | -47.15 | -58.84 | -5.13 | -136.36 | -119.17 | 7.66 | -39.3 | -71.82 | 6.26 | -39.05 | -71.71 | 0.70 | -55.13 | -83.64 | 0.44 | -46.99 | -79.63 | 0.05 | -28.57 | -44.44 | 37.27 | 7.47 | -14.32 | 99.00 | -8.4 | -6.46 | -66.89 | -159.91 | -167.92 | 167.22 | 1516.11 | 10877.07 | 21.50 | -2.14 | 8.97 |
| 22Q2 (14) | 30.22 | -1.34 | -15.37 | 14.11 | -13.81 | -37.98 | 12.62 | -28.7 | -30.58 | 10.27 | -26.85 | -31.58 | 1.56 | -28.44 | -42.86 | 0.83 | -27.19 | -40.29 | 0.07 | -12.5 | -22.22 | 34.68 | -10.34 | -5.06 | 108.08 | -3.73 | 0.35 | 111.66 | 20.8 | -10.77 | -11.81 | -256.03 | 53.02 | 21.97 | 2.66 | 13.72 |
| 22Q1 (13) | 30.63 | -24.37 | -8.51 | 16.37 | -41.18 | -17.7 | 17.70 | -37.68 | -23.28 | 14.04 | -40.03 | -22.94 | 2.18 | -53.52 | -31.45 | 1.14 | -52.3 | -38.04 | 0.08 | -20.0 | -20.0 | 38.68 | -12.41 | -6.5 | 112.27 | 10.34 | 1.05 | 92.43 | -5.73 | 7.12 | 7.57 | 278.22 | -45.08 | 21.40 | 14.07 | -0.79 |
| 21Q4 (12) | 40.50 | 4.38 | 15.81 | 27.83 | 4.0 | 14.72 | 28.40 | 4.49 | 20.49 | 23.41 | 5.78 | 25.93 | 4.69 | 9.58 | 26.42 | 2.39 | 10.65 | -4.02 | 0.10 | 11.11 | -23.08 | 44.16 | 1.52 | 13.79 | 101.75 | -3.86 | 91.62 | 98.05 | -0.44 | -4.72 | 2.00 | 31.35 | 167.41 | 18.76 | -4.92 | 17.1 |
| 21Q3 (11) | 38.80 | 8.65 | -10.64 | 26.76 | 17.63 | -18.14 | 27.18 | 49.5 | -25.35 | 22.13 | 47.44 | -26.13 | 4.28 | 56.78 | -29.84 | 2.16 | 55.4 | -47.32 | 0.09 | 0.0 | -35.71 | 43.50 | 19.08 | -15.55 | 105.84 | -1.73 | 107.98 | 98.48 | -21.3 | 9.72 | 1.52 | 106.06 | -85.07 | 19.73 | 2.12 | 9.92 |
| 21Q2 (10) | 35.71 | 6.66 | -20.22 | 22.75 | 14.38 | -32.33 | 18.18 | -21.2 | -45.84 | 15.01 | -17.62 | -45.0 | 2.73 | -14.15 | -50.36 | 1.39 | -24.46 | -62.33 | 0.09 | -10.0 | -30.77 | 36.53 | -11.7 | -24.82 | 107.70 | -3.06 | 117.36 | 125.13 | 45.01 | 24.95 | -25.13 | -282.38 | -16906.81 | 19.32 | -10.43 | 0 |
| 21Q1 (9) | 33.48 | -4.26 | -22.18 | 19.89 | -18.01 | -37.71 | 23.07 | -2.12 | -28.71 | 18.22 | -1.99 | -29.79 | 3.18 | -14.29 | -41.11 | 1.84 | -26.1 | -50.8 | 0.10 | -23.08 | -28.57 | 41.37 | 6.6 | -11.79 | 111.10 | 109.23 | 117.59 | 86.29 | -16.15 | -12.55 | 13.78 | 564.24 | 940.97 | 21.57 | 34.64 | 5.94 |
| 20Q4 (8) | 34.97 | -19.46 | -20.9 | 24.26 | -25.79 | -28.08 | 23.57 | -35.27 | -26.66 | 18.59 | -37.95 | -30.24 | 3.71 | -39.18 | -41.11 | 2.49 | -39.27 | -44.54 | 0.13 | -7.14 | -23.53 | 38.81 | -24.66 | -14.36 | 53.10 | 4.34 | 28.95 | 102.91 | 14.66 | -1.95 | -2.97 | -129.09 | 40.12 | 16.02 | -10.75 | -4.36 |
| 20Q3 (7) | 43.42 | -2.99 | 3.26 | 32.69 | -2.77 | 4.04 | 36.41 | 8.46 | 17.6 | 29.96 | 9.78 | 17.21 | 6.10 | 10.91 | 1.5 | 4.10 | 11.11 | -3.07 | 0.14 | 7.69 | -12.5 | 51.51 | 6.01 | 16.8 | 50.89 | 2.7 | 20.88 | 89.75 | -10.38 | -11.54 | 10.20 | 7005.34 | 797.81 | 17.95 | 0 | 2.63 |
| 20Q2 (6) | 44.76 | 4.04 | 31.72 | 33.62 | 5.29 | 63.05 | 33.57 | 3.74 | 49.53 | 27.29 | 5.16 | 57.02 | 5.50 | 1.85 | 87.07 | 3.69 | -1.34 | 74.06 | 0.13 | -7.14 | 8.33 | 48.59 | 3.6 | 16.02 | 49.55 | -2.96 | 10.8 | 100.15 | 1.49 | 8.98 | -0.15 | -111.16 | -101.8 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 43.02 | -2.69 | 72.36 | 31.93 | -5.34 | 285.16 | 32.36 | 0.68 | 508.27 | 25.95 | -2.63 | 522.3 | 5.40 | -14.29 | 831.03 | 3.74 | -16.7 | 750.0 | 0.14 | -17.65 | 40.0 | 46.90 | 3.49 | 62.9 | 51.06 | 23.99 | 46.01 | 98.68 | -5.98 | -36.85 | 1.32 | 126.71 | 102.35 | 20.36 | 21.55 | -15.87 |
| 19Q4 (4) | 44.21 | 5.14 | 0.0 | 33.73 | 7.35 | 0.0 | 32.14 | 3.81 | 0.0 | 26.65 | 4.26 | 0.0 | 6.30 | 4.83 | 0.0 | 4.49 | 6.15 | 0.0 | 0.17 | 6.25 | 0.0 | 45.32 | 2.77 | 0.0 | 41.18 | -2.19 | 0.0 | 104.96 | 3.44 | 0.0 | -4.96 | -238.97 | 0.0 | 16.75 | -4.23 | 0.0 |
| 19Q3 (3) | 42.05 | 23.75 | 0.0 | 31.42 | 52.38 | 0.0 | 30.96 | 37.91 | 0.0 | 25.56 | 47.07 | 0.0 | 6.01 | 104.42 | 0.0 | 4.23 | 99.53 | 0.0 | 0.16 | 33.33 | 0.0 | 44.10 | 5.3 | 0.0 | 42.10 | -5.86 | 0.0 | 101.46 | 10.41 | 0.0 | -1.46 | -117.82 | 0.0 | 17.49 | -20.86 | 0.0 |
| 19Q2 (2) | 33.98 | 36.14 | 0.0 | 20.62 | 148.73 | 0.0 | 22.45 | 321.99 | 0.0 | 17.38 | 316.79 | 0.0 | 2.94 | 406.9 | 0.0 | 2.12 | 381.82 | 0.0 | 0.12 | 20.0 | 0.0 | 41.88 | 45.47 | 0.0 | 44.72 | 27.88 | 0.0 | 91.89 | -41.19 | 0.0 | 8.21 | 114.59 | 0.0 | 22.10 | -8.68 | 0.0 |
| 19Q1 (1) | 24.96 | 0.0 | 0.0 | 8.29 | 0.0 | 0.0 | 5.32 | 0.0 | 0.0 | 4.17 | 0.0 | 0.0 | 0.58 | 0.0 | 0.0 | 0.44 | 0.0 | 0.0 | 0.10 | 0.0 | 0.0 | 28.79 | 0.0 | 0.0 | 34.97 | 0.0 | 0.0 | 156.25 | 0.0 | 0.0 | -56.25 | 0.0 | 0.0 | 24.20 | 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) | 21.91 | -14.98 | -0.35 | 0 | 29.18 | 28.48 | -4.29 | 0 | -3.52 | 0 | -1.58 | 0 | -0.04 | 0 | 0.23 | -8.0 | 29.84 | -15.44 | 95.67 | -0.81 | 8.25 | -89.85 | 91.75 | 389.88 | 0.76 | -6.61 | 22.88 | 8.75 |
| 2022 (9) | 25.77 | -30.95 | 8.09 | -67.02 | 22.71 | 47.37 | 9.96 | -59.25 | 7.71 | -61.26 | 3.91 | -72.66 | 2.34 | -72.21 | 0.25 | -37.5 | 35.29 | -15.05 | 96.45 | -5.21 | 81.27 | -19.02 | 18.73 | 0 | 0.82 | -5.26 | 21.04 | 6.32 |
| 2021 (8) | 37.32 | -9.79 | 24.53 | -19.47 | 15.41 | 8.52 | 24.44 | -21.97 | 19.90 | -21.41 | 14.30 | -27.52 | 8.42 | -37.68 | 0.40 | -24.53 | 41.54 | -10.32 | 101.75 | 91.62 | 100.36 | 3.2 | -0.36 | 0 | 0.86 | -25.58 | 19.79 | 8.92 |
| 2020 (7) | 41.37 | 8.38 | 30.46 | 17.15 | 14.20 | -9.32 | 31.32 | 24.14 | 25.32 | 22.97 | 19.73 | 24.32 | 13.51 | 17.99 | 0.53 | -3.64 | 46.32 | 11.78 | 53.10 | 28.95 | 97.25 | -5.65 | 2.75 | 0 | 1.16 | -22.5 | 18.17 | -6.05 |
| 2019 (6) | 38.17 | 22.03 | 26.00 | 40.39 | 15.66 | -14.18 | 25.23 | 16.97 | 20.59 | 16.26 | 15.87 | 33.03 | 11.45 | 34.55 | 0.55 | 14.58 | 41.44 | 2.78 | 41.18 | 6.99 | 103.08 | 20.12 | -3.06 | 0 | 1.49 | -9.8 | 19.34 | -0.77 |
| 2018 (5) | 31.28 | -15.55 | 18.52 | -30.74 | 18.25 | 23.97 | 21.57 | -18.6 | 17.71 | -18.54 | 11.93 | -29.16 | 8.51 | -28.25 | 0.48 | -11.11 | 40.32 | -3.59 | 38.49 | -11.5 | 85.81 | -14.94 | 14.16 | 0 | 1.66 | 0 | 19.49 | 10.42 |
| 2017 (4) | 37.04 | 0.79 | 26.74 | 4.25 | 14.72 | -14.23 | 26.50 | -7.15 | 21.74 | -4.36 | 16.84 | -3.38 | 11.86 | -3.73 | 0.54 | 0.0 | 41.82 | -9.28 | 43.49 | -1.56 | 100.88 | 12.23 | -0.91 | 0 | 0.00 | 0 | 17.65 | 3.7 |
| 2016 (3) | 36.75 | -7.24 | 25.65 | -12.19 | 17.16 | 8.59 | 28.54 | -0.14 | 22.73 | 2.25 | 17.43 | 8.13 | 12.32 | 5.48 | 0.54 | 3.85 | 46.10 | 3.13 | 44.18 | 10.15 | 89.89 | -12.05 | 10.11 | 0 | 0.00 | 0 | 17.02 | 6.51 |
| 2015 (2) | 39.62 | 11.89 | 29.21 | 25.04 | 15.80 | -15.43 | 28.58 | 16.61 | 22.23 | 12.22 | 16.12 | 26.53 | 11.68 | 25.19 | 0.52 | 13.04 | 44.70 | 1.61 | 40.11 | 8.79 | 102.21 | 7.25 | -2.24 | 0 | 0.00 | 0 | 15.98 | -4.94 |
| 2014 (1) | 35.41 | 0 | 23.36 | 0 | 18.69 | 9.79 | 24.51 | 0 | 19.81 | 0 | 12.74 | 0 | 9.33 | 0 | 0.46 | -2.13 | 43.99 | 12.05 | 36.87 | -11.73 | 95.31 | -0.09 | 4.69 | 0.79 | 0.00 | 0 | 16.81 | 11.84 |
