- 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) | 65.32 | -0.93 | -1.46 | -0.21 | 96.67 | 90.09 | -1.09 | 80.11 | 63.05 | -1.52 | 75.28 | 20.83 | -0.50 | 74.23 | 32.43 | 0.03 | 108.11 | 200.0 | 0.09 | 0.0 | -10.0 | 28.67 | 15.0 | 33.29 | 278.03 | 3.05 | -0.55 | 12.50 | -89.24 | -82.64 | 75.00 | 562.5 | 167.86 | 44.75 | -9.28 | 12.89 |
| 23Q3 (19) | 65.93 | -6.19 | -1.02 | -6.31 | -198.9 | -215.5 | -5.48 | -176.97 | -3525.0 | -6.15 | -206.59 | -184.72 | -1.94 | -188.18 | -193.94 | -0.37 | -150.0 | -516.67 | 0.09 | -10.0 | 12.5 | 24.93 | -24.18 | -8.78 | 269.81 | 0.74 | -0.8 | 116.22 | 29.63 | 108.94 | -16.22 | -256.76 | -101.16 | 49.33 | 21.35 | 0.61 |
| 23Q2 (18) | 70.28 | 2.79 | 1.71 | 6.38 | 117.01 | 39.91 | 7.12 | 78.0 | -6.93 | 5.77 | 787.69 | 5.68 | 2.20 | 816.67 | 35.8 | 0.74 | 252.38 | 37.04 | 0.10 | 0.0 | 25.0 | 32.88 | 6.68 | -7.41 | 267.82 | -4.51 | -0.33 | 89.66 | 20.84 | 51.49 | 10.34 | -59.91 | -74.66 | 40.65 | -0.64 | -11.67 |
| 23Q1 (17) | 68.37 | 3.14 | -3.53 | 2.94 | 238.68 | -14.04 | 4.00 | 235.59 | -21.72 | 0.65 | 133.85 | -54.86 | 0.24 | 132.43 | -41.46 | 0.21 | 800.0 | 5.0 | 0.10 | 0.0 | 25.0 | 30.82 | 43.28 | -7.7 | 280.47 | 0.32 | 1.56 | 74.19 | 3.05 | 11.29 | 25.81 | -7.83 | -22.58 | 40.91 | 3.2 | -16.48 |
| 22Q4 (16) | 66.29 | -0.48 | -10.27 | -2.12 | -6.0 | -113.24 | -2.95 | -1943.75 | -118.18 | -1.92 | 11.11 | -116.28 | -0.74 | -12.12 | -117.66 | -0.03 | 50.0 | -102.29 | 0.10 | 25.0 | 0.0 | 21.51 | -21.3 | -46.33 | 279.58 | 2.79 | 3.55 | 72.00 | 105.54 | -26.86 | 28.00 | -98.0 | 1692.0 | 39.64 | -19.15 | -1.76 |
| 22Q3 (15) | 66.61 | -3.6 | -6.18 | -2.00 | -143.86 | -125.06 | 0.16 | -97.91 | -98.11 | -2.16 | -139.56 | -137.7 | -0.66 | -140.74 | -138.6 | -0.06 | -111.11 | -109.38 | 0.08 | 0.0 | -11.11 | 27.33 | -23.04 | -28.51 | 271.98 | 1.21 | 7.96 | -1300.00 | -2296.55 | -1450.98 | 1400.00 | 3330.0 | 24633.33 | 49.03 | 6.54 | 9.3 |
| 22Q2 (14) | 69.10 | -2.5 | -5.45 | 4.56 | 33.33 | -47.4 | 7.65 | 49.71 | -48.03 | 5.46 | 279.17 | -60.03 | 1.62 | 295.12 | -62.67 | 0.54 | 170.0 | -61.97 | 0.08 | 0.0 | -11.11 | 35.51 | 6.35 | -17.15 | 268.72 | -2.7 | 9.01 | 59.18 | -11.22 | 1.02 | 40.82 | 22.45 | -1.44 | 46.02 | -6.04 | 2.84 |
| 22Q1 (13) | 70.87 | -4.07 | -5.05 | 3.42 | -78.64 | -75.95 | 5.11 | -68.52 | -63.89 | 1.44 | -87.79 | -85.32 | 0.41 | -90.21 | -87.91 | 0.20 | -84.73 | -82.76 | 0.08 | -20.0 | -20.0 | 33.39 | -16.69 | -17.04 | 276.17 | 2.29 | 16.8 | 66.67 | -32.28 | -33.97 | 33.33 | 2033.33 | 3533.33 | 48.98 | 21.39 | 13.75 |
| 21Q4 (12) | 73.88 | 4.06 | -4.01 | 16.01 | 100.63 | -23.25 | 16.23 | 92.07 | -24.55 | 11.79 | 105.76 | -27.22 | 4.19 | 145.03 | -38.38 | 1.31 | 104.69 | -38.79 | 0.10 | 11.11 | -16.67 | 40.08 | 4.84 | -8.53 | 269.99 | 7.17 | 12.87 | 98.44 | 2.3 | 1.27 | 1.56 | -72.4 | -44.06 | 40.35 | -10.05 | 0.3 |
| 21Q3 (11) | 71.00 | -2.85 | -6.84 | 7.98 | -7.96 | -58.37 | 8.45 | -42.6 | -53.31 | 5.73 | -58.05 | -51.56 | 1.71 | -60.6 | -63.23 | 0.64 | -54.93 | -57.05 | 0.09 | 0.0 | -18.18 | 38.23 | -10.8 | -11.13 | 251.92 | 2.19 | 2.01 | 96.23 | 64.25 | -9.31 | 5.66 | -86.33 | 192.69 | 44.86 | 0.25 | 6.45 |
| 21Q2 (10) | 73.08 | -2.09 | -4.03 | 8.67 | -39.03 | -36.16 | 14.72 | 4.03 | 14.46 | 13.66 | 39.25 | 63.79 | 4.34 | 28.02 | 55.56 | 1.42 | 22.41 | 44.9 | 0.09 | -10.0 | -10.0 | 42.86 | 6.48 | 5.49 | 246.51 | 4.26 | -3.32 | 58.59 | -41.98 | -44.82 | 41.41 | 4365.66 | 770.91 | 44.75 | 3.92 | 2.31 |
| 21Q1 (9) | 74.64 | -3.03 | 1.62 | 14.22 | -31.83 | 7210.0 | 14.15 | -34.22 | 646.33 | 9.81 | -39.44 | 446.64 | 3.39 | -50.15 | 540.26 | 1.16 | -45.79 | 1757.14 | 0.10 | -16.67 | 11.11 | 40.25 | -8.15 | 29.05 | 236.44 | -1.16 | 10.09 | 100.97 | 3.87 | 1313.59 | -0.97 | -134.76 | -101.05 | 43.06 | 7.03 | -13.36 |
| 20Q4 (8) | 76.97 | 1.0 | -2.67 | 20.86 | 8.82 | -19.08 | 21.51 | 18.84 | -7.24 | 16.20 | 36.94 | -8.42 | 6.80 | 46.24 | -17.78 | 2.14 | 43.62 | -21.61 | 0.12 | 9.09 | -14.29 | 43.82 | 1.86 | -2.36 | 239.21 | -3.13 | 8.69 | 97.21 | -8.39 | -12.35 | 2.79 | 145.74 | 124.56 | 40.23 | -4.53 | 5.65 |
| 20Q3 (7) | 76.21 | 0.08 | 1.01 | 19.17 | 41.16 | 0.95 | 18.10 | 40.75 | -0.39 | 11.83 | 41.85 | 4.69 | 4.65 | 66.67 | -2.52 | 1.49 | 52.04 | -2.61 | 0.11 | 10.0 | -8.33 | 43.02 | 5.88 | 4.16 | 246.95 | -3.15 | -2.28 | 106.11 | -0.06 | 1.81 | -6.11 | 1.07 | -44.53 | 42.14 | -3.66 | 6.36 |
| 20Q2 (6) | 76.15 | 3.68 | -0.25 | 13.58 | 6890.0 | -42.53 | 12.86 | 596.53 | -43.6 | 8.34 | 394.7 | -51.09 | 2.79 | 462.34 | -65.17 | 0.98 | 1500.0 | -59.34 | 0.10 | 11.11 | -23.08 | 40.63 | 30.27 | -8.31 | 254.97 | 18.72 | -3.13 | 106.17 | 1386.42 | 2.17 | -6.17 | -106.65 | -79.89 | 43.74 | -11.99 | 10.34 |
| 20Q1 (5) | 73.45 | -7.12 | -2.07 | -0.20 | -100.78 | -101.36 | -2.59 | -111.17 | -118.38 | -2.83 | -116.0 | -127.48 | -0.77 | -109.31 | -121.57 | -0.07 | -102.56 | -105.79 | 0.09 | -35.71 | -10.0 | 31.19 | -30.5 | -26.07 | 214.76 | -2.42 | -16.0 | 7.14 | -93.56 | -93.15 | 92.86 | 916.37 | 2282.14 | 49.70 | 30.51 | 15.82 |
| 19Q4 (4) | 79.08 | 4.81 | 0.0 | 25.78 | 35.76 | 0.0 | 23.19 | 27.63 | 0.0 | 17.69 | 56.55 | 0.0 | 8.27 | 73.38 | 0.0 | 2.73 | 78.43 | 0.0 | 0.14 | 16.67 | 0.0 | 44.88 | 8.67 | 0.0 | 220.09 | -12.91 | 0.0 | 110.90 | 6.4 | 0.0 | -11.37 | -169.19 | 0.0 | 38.08 | -3.89 | 0.0 |
| 19Q3 (3) | 75.45 | -1.17 | 0.0 | 18.99 | -19.64 | 0.0 | 18.17 | -20.31 | 0.0 | 11.30 | -33.72 | 0.0 | 4.77 | -40.45 | 0.0 | 1.53 | -36.51 | 0.0 | 0.12 | -7.69 | 0.0 | 41.30 | -6.79 | 0.0 | 252.71 | -3.99 | 0.0 | 104.23 | 0.29 | 0.0 | -4.23 | -23.14 | 0.0 | 39.62 | -0.05 | 0.0 |
| 19Q2 (2) | 76.34 | 1.79 | 0.0 | 23.63 | 61.19 | 0.0 | 22.80 | 61.82 | 0.0 | 17.05 | 65.53 | 0.0 | 8.01 | 124.37 | 0.0 | 2.41 | 99.17 | 0.0 | 0.13 | 30.0 | 0.0 | 44.31 | 5.02 | 0.0 | 263.20 | 2.94 | 0.0 | 103.92 | -0.32 | 0.0 | -3.43 | 19.36 | 0.0 | 39.64 | -7.62 | 0.0 |
| 19Q1 (1) | 75.00 | 0.0 | 0.0 | 14.66 | 0.0 | 0.0 | 14.09 | 0.0 | 0.0 | 10.30 | 0.0 | 0.0 | 3.57 | 0.0 | 0.0 | 1.21 | 0.0 | 0.0 | 0.10 | 0.0 | 0.0 | 42.19 | 0.0 | 0.0 | 255.68 | 0.0 | 0.0 | 104.26 | 0.0 | 0.0 | -4.26 | 0.0 | 0.0 | 42.91 | 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) | 67.62 | -0.66 | 1.03 | 43.06 | 21.91 | 5.66 | 1.50 | -28.57 | -0.01 | 0 | -0.01 | 0 | 0.61 | -4.69 | 0.37 | 12.12 | 29.54 | 2.32 | 278.03 | -0.55 | 68.89 | 99.78 | 31.11 | -52.51 | 12.22 | -8.73 | 43.66 | -4.07 |
| 2022 (9) | 68.07 | -7.06 | 0.72 | -94.0 | 20.73 | 0.26 | 2.10 | -84.54 | 0.50 | -95.17 | 0.63 | -95.31 | 0.64 | -85.29 | 0.33 | -8.33 | 28.87 | -28.49 | 279.58 | 3.55 | 34.48 | -60.93 | 65.52 | 457.62 | 13.39 | -7.22 | 45.51 | 5.57 |
| 2021 (8) | 73.24 | -3.48 | 12.00 | -17.41 | 20.68 | 0.32 | 13.58 | -1.67 | 10.36 | 9.75 | 13.42 | 6.59 | 4.35 | -2.03 | 0.36 | -10.0 | 40.37 | 0.05 | 269.99 | 12.87 | 88.25 | -16.2 | 11.75 | 0 | 14.43 | -20.43 | 43.11 | -0.76 |
| 2020 (7) | 75.88 | -0.97 | 14.53 | -31.72 | 20.62 | 14.99 | 13.81 | -30.98 | 9.44 | -34.76 | 12.59 | -48.02 | 4.44 | -47.08 | 0.40 | -23.08 | 40.35 | -6.88 | 239.21 | 8.69 | 105.31 | -0.93 | -5.31 | 0 | 18.14 | -9.94 | 43.44 | 8.95 |
| 2019 (6) | 76.62 | -0.23 | 21.28 | -5.59 | 17.93 | 233.64 | 20.01 | -13.71 | 14.47 | -14.73 | 24.22 | -23.62 | 8.39 | -12.79 | 0.52 | -7.14 | 43.33 | 34.94 | 220.09 | -0.85 | 106.30 | 9.33 | -6.30 | 0 | 20.14 | -12.9 | 39.87 | 2.73 |
| 2018 (5) | 76.80 | 8.02 | 22.54 | 138.77 | 5.37 | -15.42 | 23.19 | 128.25 | 16.97 | 115.36 | 31.71 | 155.11 | 9.62 | 136.95 | 0.56 | 9.8 | 32.11 | 60.79 | 221.98 | -10.14 | 97.23 | 4.81 | 2.77 | -59.26 | 23.12 | 0 | 38.81 | -13.52 |
| 2017 (4) | 71.10 | 3.95 | 9.44 | -47.26 | 6.35 | 12.09 | 10.16 | -47.08 | 7.88 | -46.9 | 12.43 | -31.33 | 4.06 | -44.91 | 0.51 | 2.0 | 19.97 | -21.87 | 247.04 | 42.27 | 92.77 | -0.75 | 6.81 | -0.14 | 0.00 | 0 | 44.88 | 2.05 |
| 2016 (3) | 68.40 | 0.97 | 17.90 | -27.03 | 5.67 | 10.61 | 19.20 | -27.25 | 14.84 | -24.63 | 18.10 | -38.33 | 7.37 | -34.14 | 0.50 | -12.28 | 25.56 | -19.42 | 173.64 | 46.43 | 93.47 | 0.49 | 6.82 | -2.41 | 0.00 | 0 | 43.98 | 7.64 |
| 2015 (2) | 67.74 | -3.72 | 24.53 | -2.27 | 5.12 | -4.54 | 26.39 | 5.18 | 19.69 | 13.16 | 29.35 | -27.15 | 11.19 | 7.39 | 0.57 | -5.0 | 31.72 | 3.22 | 118.58 | -52.07 | 93.01 | -6.99 | 6.99 | 0 | 0.00 | 0 | 40.86 | -4.69 |
| 2014 (1) | 70.36 | 0 | 25.10 | 0 | 5.37 | 4.83 | 25.09 | 0 | 17.40 | 0 | 40.29 | 0 | 10.42 | 0 | 0.60 | -7.69 | 30.73 | -3.43 | 247.41 | -27.92 | 100.00 | 2.0 | 0.00 | 0 | 0.00 | 0 | 42.87 | 0.4 |
