- 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) | 22.97 | 2.96 | -8.99 | 3.72 | 24.0 | -53.09 | 2.63 | -50.19 | -54.5 | 3.93 | -7.53 | -25.99 | 2.66 | -5.34 | -43.28 | 1.42 | 2.16 | -21.55 | 0.33 | 6.45 | 3.13 | 4.59 | -36.51 | -38.64 | 96.59 | -13.01 | -43.27 | 140.82 | 147.94 | 2.62 | -41.33 | -195.65 | -11.02 | 13.88 | -15.31 | 3.27 |
| 23Q3 (19) | 22.31 | 5.38 | -3.0 | 3.00 | -19.57 | -63.86 | 5.28 | -10.36 | -51.11 | 4.25 | 0.24 | -51.92 | 2.81 | -2.77 | -66.06 | 1.39 | 3.73 | -57.75 | 0.31 | 3.33 | -16.22 | 7.23 | -6.35 | -40.64 | 111.04 | -5.54 | -37.66 | 56.79 | -10.33 | -26.07 | 43.21 | 17.84 | 86.37 | 16.39 | 13.9 | 28.35 |
| 23Q2 (18) | 21.17 | -1.81 | -9.8 | 3.73 | -38.65 | -6.05 | 5.89 | -8.96 | 195.98 | 4.24 | -19.39 | 231.25 | 2.89 | -36.06 | 232.18 | 1.34 | -28.34 | 226.83 | 0.30 | -11.76 | 7.14 | 7.72 | -3.5 | 101.04 | 117.55 | -10.7 | -10.9 | 63.33 | -32.55 | -68.21 | 36.67 | 500.29 | 136.96 | 14.39 | 11.29 | -4.95 |
| 23Q1 (17) | 21.56 | -14.58 | 11.08 | 6.08 | -23.33 | 114.08 | 6.47 | 11.94 | 4.35 | 5.26 | -0.94 | 13.61 | 4.52 | -3.62 | 28.77 | 1.87 | 3.31 | 26.35 | 0.34 | 6.25 | 9.68 | 8.00 | 6.95 | 3.76 | 131.63 | -22.68 | -13.32 | 93.89 | -31.58 | 104.68 | 6.11 | 116.41 | -88.72 | 12.93 | -3.79 | -6.1 |
| 22Q4 (16) | 25.24 | 9.74 | 7.54 | 7.93 | -4.46 | 145.51 | 5.78 | -46.48 | 66.09 | 5.31 | -39.93 | 93.09 | 4.69 | -43.36 | 143.01 | 1.81 | -44.98 | 105.68 | 0.32 | -13.51 | 3.23 | 7.48 | -38.59 | 44.4 | 170.25 | -4.41 | 28.93 | 137.22 | 78.64 | 48.55 | -37.22 | -260.56 | -618.8 | 13.44 | 5.25 | -16.68 |
| 22Q3 (15) | 23.00 | -2.0 | -19.33 | 8.30 | 109.07 | -19.88 | 10.80 | 442.71 | 9.64 | 8.84 | 590.62 | 30.96 | 8.28 | 851.72 | 70.02 | 3.29 | 702.44 | 46.22 | 0.37 | 32.14 | 12.12 | 12.18 | 217.19 | 5.82 | 178.11 | 35.0 | 44.65 | 76.82 | -61.44 | -26.94 | 23.18 | 123.37 | 537.68 | 12.77 | -15.65 | -16.15 |
| 22Q2 (14) | 23.47 | 20.92 | 0.17 | 3.97 | 39.79 | -29.23 | 1.99 | -67.9 | -71.57 | 1.28 | -72.35 | -78.77 | 0.87 | -75.21 | -79.91 | 0.41 | -72.3 | -79.5 | 0.28 | -9.68 | -15.15 | 3.84 | -50.19 | -55.09 | 131.93 | -13.12 | 12.88 | 199.19 | 334.24 | 148.85 | -99.19 | -283.26 | -597.13 | 15.14 | 9.95 | 6.25 |
| 22Q1 (13) | 19.41 | -17.3 | 0.26 | 2.84 | -12.07 | -12.35 | 6.20 | 78.16 | 156.2 | 4.63 | 68.36 | 153.01 | 3.51 | 81.87 | 132.45 | 1.48 | 68.18 | 117.65 | 0.31 | 0.0 | -13.89 | 7.71 | 48.84 | 107.82 | 151.86 | 15.0 | 24.73 | 45.87 | -50.34 | -65.65 | 54.13 | 654.42 | 261.42 | 13.77 | -14.63 | 5.03 |
| 21Q4 (12) | 23.47 | -17.68 | -12.16 | 3.23 | -68.82 | -60.17 | 3.48 | -64.67 | -58.77 | 2.75 | -59.26 | -54.32 | 1.93 | -60.37 | -64.06 | 0.88 | -60.89 | -62.23 | 0.31 | -6.06 | -18.42 | 5.18 | -55.0 | -47.2 | 132.05 | 7.24 | -2.79 | 92.38 | -12.14 | -3.96 | 7.17 | 235.45 | 80.27 | 16.13 | 5.91 | 18.6 |
| 21Q3 (11) | 28.51 | 21.68 | 9.02 | 10.36 | 84.67 | 25.42 | 9.85 | 40.71 | 22.82 | 6.75 | 11.94 | 8.0 | 4.87 | 12.47 | -2.6 | 2.25 | 12.5 | -2.17 | 0.33 | 0.0 | -8.33 | 11.51 | 34.62 | 19.52 | 123.13 | 5.35 | -6.17 | 105.14 | 31.34 | 1.97 | -5.30 | -126.55 | -82.74 | 15.23 | 6.88 | 9.57 |
| 21Q2 (10) | 23.43 | 21.02 | -4.25 | 5.61 | 73.15 | 30.47 | 7.00 | 189.26 | 70.73 | 6.03 | 229.51 | 80.0 | 4.33 | 186.75 | 89.91 | 2.00 | 194.12 | 76.99 | 0.33 | -8.33 | 0.0 | 8.55 | 130.46 | 39.71 | 116.88 | -4.0 | 7.25 | 80.05 | -40.05 | -23.75 | 19.95 | 159.5 | 501.06 | 14.25 | 8.7 | -12.74 |
| 21Q1 (9) | 19.36 | -27.54 | -26.19 | 3.24 | -60.05 | 2600.0 | 2.42 | -71.33 | 190.98 | 1.83 | -69.6 | 154.3 | 1.51 | -71.88 | 177.04 | 0.68 | -70.82 | 174.73 | 0.36 | -5.26 | 28.57 | 3.71 | -62.18 | 1004.88 | 121.75 | -10.37 | 18.14 | 133.53 | 38.83 | 3064.43 | -33.53 | -942.51 | -132.09 | 13.11 | -3.6 | 0 |
| 20Q4 (8) | 26.72 | 2.18 | 56.26 | 8.11 | -1.82 | 207.99 | 8.44 | 5.24 | 214.21 | 6.02 | -3.68 | 254.76 | 5.37 | 7.4 | 301.88 | 2.33 | 1.3 | 284.92 | 0.38 | 5.56 | 15.15 | 9.81 | 1.87 | 281.67 | 135.84 | 3.51 | 19.34 | 96.19 | -6.71 | -5.34 | 3.98 | 237.31 | 346.77 | 13.60 | -2.16 | -25.89 |
| 20Q3 (7) | 26.15 | 6.87 | 3.16 | 8.26 | 92.09 | 339.36 | 8.02 | 95.61 | 445.69 | 6.25 | 86.57 | 397.62 | 5.00 | 119.3 | 442.47 | 2.30 | 103.54 | 448.48 | 0.36 | 9.09 | 5.88 | 9.63 | 57.35 | 2339.53 | 131.23 | 20.42 | 35.23 | 103.11 | -1.78 | 228.1 | -2.90 | 41.74 | -101.61 | 13.90 | -14.88 | -15.91 |
| 20Q2 (6) | 24.47 | -6.71 | 8.27 | 4.30 | 3483.33 | 165.43 | 4.10 | 254.14 | 116.93 | 3.35 | 199.41 | 329.49 | 2.28 | 216.33 | 286.44 | 1.13 | 224.18 | 264.52 | 0.33 | 17.86 | 0.0 | 6.12 | 1592.68 | 67.21 | 108.98 | 5.74 | -1.86 | 104.98 | 2430.45 | 23.04 | -4.98 | -104.76 | -133.89 | 16.33 | 0 | 4.21 |
| 20Q1 (5) | 26.23 | 53.39 | 31.28 | 0.12 | 101.6 | -97.36 | -2.66 | 64.01 | -160.59 | -3.37 | 13.37 | -173.58 | -1.96 | 26.32 | -140.33 | -0.91 | 27.78 | -143.96 | 0.28 | -15.15 | -36.36 | -0.41 | 92.41 | -107.19 | 103.06 | -9.46 | -28.88 | -4.50 | -104.43 | -104.34 | 104.50 | 6579.28 | 2897.51 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 17.10 | -32.54 | 0.0 | -7.51 | -499.47 | 0.0 | -7.39 | -218.53 | 0.0 | -3.89 | -85.24 | 0.0 | -2.66 | -82.19 | 0.0 | -1.26 | -90.91 | 0.0 | 0.33 | -2.94 | 0.0 | -5.40 | -1155.81 | 0.0 | 113.83 | 17.3 | 0.0 | 101.61 | 226.25 | 0.0 | -1.61 | -100.89 | 0.0 | 18.35 | 11.01 | 0.0 |
| 19Q3 (3) | 25.35 | 12.17 | 0.0 | 1.88 | 16.05 | 0.0 | -2.32 | -222.75 | 0.0 | -2.10 | -369.23 | 0.0 | -1.46 | -347.46 | 0.0 | -0.66 | -312.9 | 0.0 | 0.34 | 3.03 | 0.0 | -0.43 | -111.75 | 0.0 | 97.04 | -12.61 | 0.0 | -80.49 | -194.34 | 0.0 | 180.49 | 1129.57 | 0.0 | 16.53 | 5.49 | 0.0 |
| 19Q2 (2) | 22.60 | 13.11 | 0.0 | 1.62 | -64.4 | 0.0 | 1.89 | -56.95 | 0.0 | 0.78 | -82.97 | 0.0 | 0.59 | -87.86 | 0.0 | 0.31 | -85.02 | 0.0 | 0.33 | -25.0 | 0.0 | 3.66 | -35.79 | 0.0 | 111.04 | -23.38 | 0.0 | 85.32 | -17.75 | 0.0 | 14.68 | 492.94 | 0.0 | 15.67 | 44.42 | 0.0 |
| 19Q1 (1) | 19.98 | 0.0 | 0.0 | 4.55 | 0.0 | 0.0 | 4.39 | 0.0 | 0.0 | 4.58 | 0.0 | 0.0 | 4.86 | 0.0 | 0.0 | 2.07 | 0.0 | 0.0 | 0.44 | 0.0 | 0.0 | 5.70 | 0.0 | 0.0 | 144.92 | 0.0 | 0.0 | 103.74 | 0.0 | 0.0 | -3.74 | 0.0 | 0.0 | 10.85 | 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) | 21.99 | -3.97 | 4.24 | -29.92 | 1.08 | 9.43 | 5.12 | -21.59 | 4.46 | -16.32 | 12.83 | -24.17 | 5.83 | -16.12 | 1.24 | -1.59 | 6.92 | -14.78 | 96.59 | -43.27 | 82.79 | -10.71 | 17.15 | 135.58 | 1.31 | 2.96 | 14.30 | 4.61 |
| 2022 (9) | 22.90 | -2.97 | 6.05 | 9.01 | 0.99 | -7.24 | 6.53 | 16.61 | 5.33 | 24.82 | 16.92 | 35.36 | 6.95 | 27.29 | 1.26 | 0.8 | 8.12 | 13.73 | 170.25 | 28.93 | 92.72 | -6.43 | 7.28 | 705.18 | 1.27 | -24.88 | 13.67 | -6.69 |
| 2021 (8) | 23.60 | -9.16 | 5.55 | -4.48 | 1.07 | -11.42 | 5.60 | 6.06 | 4.27 | 14.48 | 12.50 | 16.93 | 5.46 | 12.81 | 1.25 | -1.57 | 7.14 | 1.71 | 132.05 | -2.79 | 99.10 | -9.87 | 0.90 | 0 | 1.69 | 27.48 | 14.65 | -5.36 |
| 2020 (7) | 25.98 | 22.61 | 5.81 | 695.89 | 1.20 | -0.21 | 5.28 | 0 | 3.73 | 788.1 | 10.69 | 663.57 | 4.84 | 497.53 | 1.27 | -13.61 | 7.02 | 355.84 | 135.84 | 19.34 | 109.95 | 0 | -9.95 | 0 | 1.33 | 64.43 | 15.48 | 4.38 |
| 2019 (6) | 21.19 | 12.95 | 0.73 | 0 | 1.21 | 5.61 | -0.16 | 0 | 0.42 | 0 | 1.40 | 0 | 0.81 | 0 | 1.47 | 4.26 | 1.54 | 0 | 113.83 | -15.25 | -463.16 | 0 | 563.16 | 0 | 0.81 | 18.1 | 14.83 | 1.37 |
| 2018 (5) | 18.76 | -16.03 | -3.41 | 0 | 1.14 | -14.21 | -2.86 | 0 | -2.71 | 0 | -7.87 | 0 | -3.66 | 0 | 1.41 | 7.63 | -1.22 | 0 | 134.31 | 66.87 | 119.34 | 40.51 | -19.34 | 0 | 0.68 | 0 | 14.63 | -16.78 |
| 2017 (4) | 22.34 | -8.93 | -2.77 | 0 | 1.33 | 6.42 | -3.26 | 0 | -2.98 | 0 | -6.88 | 0 | -3.79 | 0 | 1.31 | -7.75 | -1.55 | 0 | 80.49 | 10.91 | 84.94 | -40.4 | 15.06 | 0 | 0.00 | 0 | 17.58 | 15.96 |
| 2016 (3) | 24.53 | 12.32 | 2.93 | 0 | 1.25 | 4.6 | 2.05 | 0 | 1.28 | 0 | 3.30 | 0 | 1.99 | 0 | 1.42 | 12.7 | 3.78 | 0 | 72.57 | -19.93 | 142.52 | 203.54 | -42.52 | 0 | 0.00 | 0 | 15.16 | -2.94 |
| 2015 (2) | 21.84 | -12.32 | -1.08 | 0 | 1.20 | 10.63 | -2.30 | 0 | -3.02 | 0 | -6.89 | 0 | -3.67 | 0 | 1.26 | -3.08 | -0.70 | 0 | 90.63 | 26.53 | 46.95 | -68.99 | 53.05 | 0 | 0.00 | 0 | 15.62 | 1.76 |
| 2014 (1) | 24.91 | 0 | 2.76 | 0 | 1.08 | -34.06 | 1.82 | 0 | 0.84 | 0 | 1.79 | 0 | 1.17 | 0 | 1.30 | 10.17 | 3.24 | -29.87 | 71.63 | 26.55 | 151.42 | 353.29 | -51.42 | 0 | 0.00 | 0 | 15.35 | -11.83 |
