- 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) | 12.28 | -6.33 | -4.06 | 6.35 | -12.77 | 3.08 | 5.72 | -21.1 | 45.92 | 4.57 | -15.84 | 730.91 | 1.85 | -14.35 | 704.35 | 1.28 | -9.86 | 312.9 | 0.24 | 4.35 | 4.35 | 9.98 | -14.48 | 19.66 | 68.00 | -5.62 | -13.46 | 110.26 | 9.1 | -29.71 | -11.54 | 0 | 79.71 | 6.38 | 0.79 | 2.08 |
| 23Q3 (19) | 13.11 | -16.39 | 14.1 | 7.28 | -21.21 | 30.94 | 7.25 | -20.68 | 39.96 | 5.43 | -18.47 | 22.3 | 2.16 | -25.0 | 13.68 | 1.42 | -20.67 | 22.41 | 0.23 | -4.17 | -4.17 | 11.67 | -11.86 | 26.99 | 72.05 | -6.85 | -9.29 | 101.06 | 0.27 | -5.95 | 0.00 | 100.0 | 100.0 | 6.33 | 7.47 | 4.11 |
| 23Q2 (18) | 15.68 | 5.73 | 40.0 | 9.24 | 5.36 | 87.04 | 9.14 | 7.91 | 113.55 | 6.66 | 8.12 | 73.44 | 2.88 | 15.66 | 74.55 | 1.79 | 13.29 | 77.23 | 0.24 | 4.35 | 4.35 | 13.24 | 1.22 | 60.29 | 77.35 | -0.97 | -9.19 | 100.79 | -2.78 | -12.01 | -0.79 | 78.54 | 95.19 | 5.89 | -6.66 | 4.99 |
| 23Q1 (17) | 14.83 | 15.86 | -2.05 | 8.77 | 42.37 | -0.57 | 8.47 | 116.07 | -8.13 | 6.16 | 1020.0 | -6.95 | 2.49 | 982.61 | -4.96 | 1.58 | 409.68 | 3.27 | 0.23 | 0.0 | 4.55 | 13.08 | 56.83 | -2.46 | 78.11 | -0.6 | -6.29 | 103.67 | -33.91 | 8.7 | -3.67 | 93.55 | -179.27 | 6.31 | 0.96 | -1.1 |
| 22Q4 (16) | 12.80 | 11.4 | 6.31 | 6.16 | 10.79 | 34.79 | 3.92 | -24.32 | -89.87 | 0.55 | -87.61 | -98.34 | 0.23 | -87.89 | -98.34 | 0.31 | -73.28 | -95.79 | 0.23 | -4.17 | 4.55 | 8.34 | -9.25 | -80.75 | 78.58 | -1.07 | -3.48 | 156.86 | 45.97 | 1236.35 | -56.86 | -661.96 | -164.43 | 6.25 | 2.8 | -13.79 |
| 22Q3 (15) | 11.49 | 2.59 | -14.06 | 5.56 | 12.55 | -17.26 | 5.18 | 21.03 | -12.79 | 4.44 | 15.63 | 50.0 | 1.90 | 15.15 | 43.94 | 1.16 | 14.85 | 50.65 | 0.24 | 4.35 | 9.09 | 9.19 | 11.26 | -13.38 | 79.43 | -6.75 | -20.72 | 107.46 | -6.18 | -5.1 | -7.46 | 54.39 | 43.62 | 6.08 | 8.38 | -8.98 |
| 22Q2 (14) | 11.20 | -26.02 | -18.13 | 4.94 | -43.99 | -27.25 | 4.28 | -53.58 | -45.82 | 3.84 | -41.99 | -36.84 | 1.65 | -37.02 | -28.57 | 1.01 | -33.99 | -17.89 | 0.23 | 4.55 | 21.05 | 8.26 | -38.4 | -37.66 | 85.18 | 2.2 | -20.13 | 114.55 | 20.11 | 32.81 | -16.36 | -453.45 | -219.01 | 5.61 | -12.07 | -27.33 |
| 22Q1 (13) | 15.14 | 25.75 | -5.32 | 8.82 | 93.0 | -6.27 | 9.22 | -76.17 | -12.11 | 6.62 | -80.02 | -19.27 | 2.62 | -81.07 | -19.38 | 1.53 | -79.24 | -12.07 | 0.22 | 0.0 | 10.0 | 13.41 | -69.04 | -13.37 | 83.35 | 2.38 | -18.86 | 95.37 | 712.48 | 5.66 | 4.63 | -94.75 | -56.4 | 6.38 | -12.0 | -5.06 |
| 21Q4 (12) | 12.04 | -9.95 | -7.88 | 4.57 | -31.99 | -4.59 | 38.69 | 551.35 | 505.48 | 33.13 | 1019.26 | 897.89 | 13.84 | 948.48 | 1043.8 | 7.37 | 857.14 | 938.03 | 0.22 | 0.0 | 15.79 | 43.32 | 308.29 | 265.88 | 81.41 | -18.74 | -10.69 | 11.74 | -89.63 | -84.52 | 88.26 | 766.87 | 242.01 | 7.25 | 8.53 | -15.3 |
| 21Q3 (11) | 13.37 | -2.27 | -11.92 | 6.72 | -1.03 | -19.04 | 5.94 | -24.81 | -27.03 | 2.96 | -51.32 | -51.55 | 1.32 | -42.86 | -44.07 | 0.77 | -37.4 | -42.54 | 0.22 | 15.79 | 10.0 | 10.61 | -19.92 | -21.35 | 100.19 | -6.06 | 8.95 | 113.24 | 31.29 | 10.54 | -13.24 | -196.26 | -442.65 | 6.68 | -13.47 | -20.1 |
| 21Q2 (10) | 13.68 | -14.45 | -4.34 | 6.79 | -27.84 | -7.62 | 7.90 | -24.69 | 7.34 | 6.08 | -25.85 | 16.03 | 2.31 | -28.92 | 27.62 | 1.23 | -29.31 | 14.95 | 0.19 | -5.0 | 5.56 | 13.25 | -14.41 | 1.45 | 106.65 | 3.82 | 14.74 | 86.25 | -4.45 | -13.75 | 13.75 | 29.48 | 0 | 7.72 | 14.88 | 0 |
| 21Q1 (9) | 15.99 | 22.34 | -3.62 | 9.41 | 96.45 | -9.08 | 10.49 | 64.16 | 4.38 | 8.20 | 146.99 | 6.77 | 3.25 | 168.6 | 14.04 | 1.74 | 145.07 | 4.82 | 0.20 | 5.26 | 0.0 | 15.48 | 30.74 | 1.91 | 102.73 | 12.7 | 25.97 | 90.27 | 19.07 | -12.34 | 10.62 | -58.85 | 457.52 | 6.72 | -21.5 | 0 |
| 20Q4 (8) | 13.07 | -13.9 | 13.36 | 4.79 | -42.29 | 8.37 | 6.39 | -21.5 | 251.1 | 3.32 | -45.66 | -19.22 | 1.21 | -48.73 | -23.42 | 0.71 | -47.01 | -31.07 | 0.19 | -5.0 | -9.52 | 11.84 | -12.23 | 60.22 | 91.15 | -0.88 | 8.95 | 75.81 | -26.0 | -69.35 | 25.81 | 1158.06 | 118.16 | 8.56 | 2.39 | 12.48 |
| 20Q3 (7) | 15.18 | 6.15 | 47.09 | 8.30 | 12.93 | 135.8 | 8.14 | 10.6 | 163.43 | 6.11 | 16.6 | 169.16 | 2.36 | 30.39 | 168.18 | 1.34 | 25.23 | 112.7 | 0.20 | 11.11 | -4.76 | 13.49 | 3.29 | 58.52 | 91.96 | -1.07 | 5.47 | 102.44 | 2.44 | -8.64 | -2.44 | 0 | 83.9 | 8.36 | 0 | 22.04 |
| 20Q2 (6) | 14.30 | -13.8 | 47.27 | 7.35 | -28.99 | 142.57 | 7.36 | -26.77 | 253.85 | 5.24 | -31.77 | 303.08 | 1.81 | -36.49 | 269.39 | 1.07 | -35.54 | 174.36 | 0.18 | -10.0 | -10.0 | 13.06 | -14.02 | 77.45 | 92.95 | 13.98 | 2.37 | 100.00 | -2.88 | -29.03 | 0.00 | 100.0 | 100.0 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 16.59 | 43.89 | 69.46 | 10.35 | 134.16 | 77.53 | 10.05 | 452.2 | 69.48 | 7.68 | 86.86 | 83.73 | 2.85 | 80.38 | 87.5 | 1.66 | 61.17 | 78.49 | 0.20 | -4.76 | 5.26 | 15.19 | 105.55 | 33.25 | 81.55 | -2.52 | -10.33 | 102.97 | -58.37 | 4.81 | -2.97 | 97.91 | -269.31 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 11.53 | 11.72 | 0.0 | 4.42 | 25.57 | 0.0 | 1.82 | -41.1 | 0.0 | 4.11 | 81.06 | 0.0 | 1.58 | 79.55 | 0.0 | 1.03 | 63.49 | 0.0 | 0.21 | 0.0 | 0.0 | 7.39 | -13.16 | 0.0 | 83.66 | -4.05 | 0.0 | 247.37 | 120.63 | 0.0 | -142.11 | -837.89 | 0.0 | 7.61 | 11.09 | 0.0 |
| 19Q3 (3) | 10.32 | 6.28 | 0.0 | 3.52 | 16.17 | 0.0 | 3.09 | 48.56 | 0.0 | 2.27 | 74.62 | 0.0 | 0.88 | 79.59 | 0.0 | 0.63 | 61.54 | 0.0 | 0.21 | 5.0 | 0.0 | 8.51 | 15.62 | 0.0 | 87.19 | -3.98 | 0.0 | 112.12 | -20.43 | 0.0 | -15.15 | 66.67 | 0.0 | 6.85 | 0.15 | 0.0 |
| 19Q2 (2) | 9.71 | -0.82 | 0.0 | 3.03 | -48.03 | 0.0 | 2.08 | -64.92 | 0.0 | 1.30 | -68.9 | 0.0 | 0.49 | -67.76 | 0.0 | 0.39 | -58.06 | 0.0 | 0.20 | 5.26 | 0.0 | 7.36 | -35.44 | 0.0 | 90.80 | -0.15 | 0.0 | 140.91 | 43.43 | 0.0 | -45.45 | -2690.91 | 0.0 | 6.84 | 5.56 | 0.0 |
| 19Q1 (1) | 9.79 | 0.0 | 0.0 | 5.83 | 0.0 | 0.0 | 5.93 | 0.0 | 0.0 | 4.18 | 0.0 | 0.0 | 1.52 | 0.0 | 0.0 | 0.93 | 0.0 | 0.0 | 0.19 | 0.0 | 0.0 | 11.40 | 0.0 | 0.0 | 90.94 | 0.0 | 0.0 | 98.25 | 0.0 | 0.0 | 1.75 | 0.0 | 0.0 | 6.48 | 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) | 13.98 | 10.95 | 7.91 | 25.36 | 3.37 | -1.7 | 7.65 | 37.34 | 5.71 | 50.66 | 9.29 | 47.69 | 6.09 | 52.25 | 0.94 | 2.17 | 12.01 | 23.69 | 68.00 | -13.46 | 103.43 | -8.6 | -3.43 | 0 | 0.02 | -50.46 | 6.23 | 2.64 |
| 2022 (9) | 12.60 | -8.3 | 6.31 | -7.75 | 3.43 | -18.69 | 5.57 | -65.32 | 3.79 | -70.51 | 6.29 | -68.55 | 4.00 | -64.19 | 0.92 | 9.52 | 9.71 | -53.65 | 78.58 | -3.48 | 113.17 | 165.57 | -13.52 | 0 | 0.04 | -37.5 | 6.07 | -14.27 |
| 2021 (8) | 13.74 | -7.22 | 6.84 | -11.51 | 4.22 | -11.15 | 16.06 | 100.25 | 12.85 | 128.65 | 20.00 | 149.38 | 11.17 | 140.22 | 0.84 | 10.53 | 20.95 | 56.11 | 81.41 | -10.69 | 42.61 | -55.83 | 57.53 | 1531.71 | 0.06 | -26.53 | 7.08 | -11.72 |
| 2020 (7) | 14.81 | 43.09 | 7.73 | 85.37 | 4.75 | 5.44 | 8.02 | 152.2 | 5.62 | 90.51 | 8.02 | 77.43 | 4.65 | 52.46 | 0.76 | -8.43 | 13.42 | 55.68 | 91.15 | 8.95 | 96.47 | -26.09 | 3.53 | 0 | 0.08 | -2.78 | 8.02 | 15.4 |
| 2019 (6) | 10.35 | -11.99 | 4.17 | -7.33 | 4.50 | 14.75 | 3.18 | -39.77 | 2.95 | -26.25 | 4.52 | -21.25 | 3.05 | -16.44 | 0.83 | 3.75 | 8.62 | -13.28 | 83.66 | -4.17 | 130.53 | 52.8 | -31.30 | 0 | 0.08 | -22.33 | 6.95 | 1.16 |
| 2018 (5) | 11.76 | -41.23 | 4.50 | -61.99 | 3.92 | 0.64 | 5.28 | -47.04 | 4.00 | -48.65 | 5.74 | -44.86 | 3.65 | -42.79 | 0.80 | 6.67 | 9.94 | -32.38 | 87.30 | 21.32 | 85.43 | -28.1 | 14.57 | 0 | 0.10 | 0 | 6.87 | -12.48 |
| 2017 (4) | 20.01 | 25.14 | 11.84 | 55.58 | 3.90 | 9.48 | 9.97 | 34.91 | 7.79 | 43.73 | 10.41 | 28.04 | 6.38 | 26.84 | 0.75 | -7.41 | 14.70 | 23.12 | 71.96 | -13.61 | 118.81 | 15.25 | -18.81 | 0 | 0.00 | 0 | 7.85 | 14.1 |
| 2016 (3) | 15.99 | 56.15 | 7.61 | 129.22 | 3.56 | -5.33 | 7.39 | 439.42 | 5.42 | 569.14 | 8.13 | 625.89 | 5.03 | 308.94 | 0.81 | 5.19 | 11.94 | 96.38 | 83.30 | -3.98 | 103.09 | -56.89 | -3.09 | 0 | 0.00 | 0 | 6.88 | 2.84 |
| 2015 (2) | 10.24 | -11.65 | 3.32 | -25.73 | 3.76 | 3.66 | 1.37 | -62.47 | 0.81 | -67.6 | 1.12 | -67.06 | 1.23 | -54.44 | 0.77 | -4.94 | 6.08 | -26.84 | 86.75 | 23.52 | 239.13 | 95.37 | -141.30 | 0 | 0.00 | 0 | 6.69 | 5.19 |
| 2014 (1) | 11.59 | 0 | 4.47 | 0 | 3.63 | 20.43 | 3.65 | 0 | 2.50 | 0 | 3.40 | 0 | 2.70 | 0 | 0.81 | -10.99 | 8.31 | -34.41 | 70.23 | 5.34 | 122.40 | 40.31 | -22.40 | 0 | 0.00 | 0 | 6.36 | 9.66 |
