- 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) | 15.33 | 6.02 | 4.14 | 6.32 | 38.9 | 98.74 | 6.31 | -12.36 | 14.52 | 4.24 | -22.2 | 5.21 | 1.69 | -16.75 | 30.0 | 0.81 | -17.35 | 24.62 | 0.18 | 5.88 | 28.57 | 11.28 | -10.41 | -6.39 | 127.60 | 6.26 | 6.14 | 100.00 | 58.38 | 72.32 | 0.00 | -100.0 | -100.0 | 10.66 | -9.43 | -3.79 |
| 23Q3 (19) | 14.46 | 1.69 | 27.07 | 4.55 | -24.54 | 148.63 | 7.20 | -6.49 | 56.52 | 5.45 | -8.4 | 44.95 | 2.03 | -20.08 | 53.79 | 0.98 | -20.33 | 58.06 | 0.17 | -10.53 | 13.33 | 12.59 | -1.72 | 12.21 | 120.08 | -0.59 | -9.9 | 63.14 | -19.45 | 57.85 | 36.86 | 70.54 | -39.15 | 11.77 | 21.22 | 5.28 |
| 23Q2 (18) | 14.22 | -8.32 | 12.59 | 6.03 | 19.17 | 38.94 | 7.70 | 49.51 | 14.07 | 5.95 | 85.94 | 17.36 | 2.54 | 118.97 | -1.17 | 1.23 | 108.47 | 12.84 | 0.19 | 11.76 | -5.0 | 12.81 | 14.58 | 12.37 | 120.79 | 2.98 | -19.72 | 78.39 | -20.01 | 21.86 | 21.61 | 980.69 | -39.42 | 9.71 | -8.91 | 0.31 |
| 23Q1 (17) | 15.51 | 5.37 | 43.21 | 5.06 | 59.12 | 73.29 | 5.15 | -6.53 | 39.95 | 3.20 | -20.6 | 27.49 | 1.16 | -10.77 | -11.45 | 0.59 | -9.23 | 3.51 | 0.17 | 21.43 | -19.05 | 11.18 | -7.22 | 36.67 | 117.30 | -2.43 | -20.02 | 98.00 | 68.88 | 23.25 | 2.00 | -95.29 | -90.24 | 10.66 | -3.79 | 21.97 |
| 22Q4 (16) | 14.72 | 29.35 | 63.19 | 3.18 | 73.77 | 715.38 | 5.51 | 19.78 | 939.62 | 4.03 | 7.18 | 7960.0 | 1.30 | -1.52 | 4233.33 | 0.65 | 4.84 | 828.57 | 0.14 | -6.67 | -26.32 | 12.05 | 7.4 | 131.73 | 120.22 | -9.8 | -22.58 | 58.03 | 45.08 | -22.63 | 42.49 | -29.86 | 48.7 | 11.08 | -0.89 | 12.15 |
| 22Q3 (15) | 11.38 | -9.9 | 16.72 | 1.83 | -57.83 | -33.21 | 4.60 | -31.85 | 18.25 | 3.76 | -25.84 | 12.57 | 1.32 | -48.64 | -19.51 | 0.62 | -43.12 | -4.62 | 0.15 | -25.0 | -16.67 | 11.22 | -1.58 | 30.62 | 133.28 | -11.42 | -22.35 | 40.00 | -37.82 | -42.98 | 60.57 | 69.78 | 106.35 | 11.18 | 15.5 | 24.22 |
| 22Q2 (14) | 12.63 | 16.62 | 5.6 | 4.34 | 48.63 | 20.56 | 6.75 | 83.42 | 68.75 | 5.07 | 101.99 | 61.46 | 2.57 | 96.18 | 38.17 | 1.09 | 91.23 | 51.39 | 0.20 | -4.76 | -4.76 | 11.40 | 39.36 | 41.61 | 150.46 | 2.58 | -17.55 | 64.32 | -19.1 | -28.56 | 35.68 | 74.13 | 258.18 | 9.68 | 10.76 | 8.4 |
| 22Q1 (13) | 10.83 | 20.07 | 2.27 | 2.92 | 648.72 | -14.37 | 3.68 | 594.34 | -0.54 | 2.51 | 4920.0 | 0.4 | 1.31 | 4266.67 | -6.43 | 0.57 | 714.29 | 1.79 | 0.21 | 10.53 | 5.0 | 8.18 | 57.31 | -0.24 | 146.67 | -5.54 | -17.88 | 79.51 | 6.02 | -13.7 | 20.49 | -28.29 | 160.32 | 8.74 | -11.54 | -7.61 |
| 21Q4 (12) | 9.02 | -7.49 | -18.37 | 0.39 | -85.77 | -87.25 | 0.53 | -86.38 | -86.3 | 0.05 | -98.5 | -98.12 | 0.03 | -98.17 | -97.86 | 0.07 | -89.23 | -87.72 | 0.19 | 5.56 | 5.56 | 5.20 | -39.46 | -42.41 | 155.28 | -9.53 | -16.61 | 75.00 | 6.91 | -5.19 | 28.57 | -2.66 | 36.73 | 9.88 | 9.78 | -1.59 |
| 21Q3 (11) | 9.75 | -18.48 | -17.65 | 2.74 | -23.89 | -25.14 | 3.89 | -2.75 | -31.27 | 3.34 | 6.37 | -28.33 | 1.64 | -11.83 | -30.21 | 0.65 | -9.72 | -28.57 | 0.18 | -14.29 | 5.88 | 8.59 | 6.71 | -23.1 | 171.64 | -5.94 | -8.89 | 70.15 | -22.09 | 8.3 | 29.35 | 194.71 | -16.67 | 9.00 | 0.78 | -16.12 |
| 21Q2 (10) | 11.96 | 12.94 | -0.99 | 3.60 | 5.57 | -37.61 | 4.00 | 8.11 | -37.01 | 3.14 | 25.6 | -27.48 | 1.86 | 32.86 | -25.0 | 0.72 | 28.57 | -26.53 | 0.21 | 5.0 | 5.0 | 8.05 | -1.83 | -28.12 | 182.48 | 2.17 | -6.08 | 90.04 | -2.27 | -0.72 | 9.96 | 26.55 | 10.56 | 8.93 | -5.6 | -1.22 |
| 21Q1 (9) | 10.59 | -4.16 | -17.27 | 3.41 | 11.44 | -23.2 | 3.70 | -4.39 | -17.78 | 2.50 | -6.02 | -24.92 | 1.40 | 0.0 | -6.67 | 0.56 | -1.75 | -17.65 | 0.20 | 11.11 | 25.0 | 8.20 | -9.19 | -23.72 | 178.61 | -4.08 | -4.53 | 92.13 | 16.47 | -6.4 | 7.87 | -62.33 | 401.08 | 9.46 | -5.78 | -12.16 |
| 20Q4 (8) | 11.05 | -6.67 | 8.23 | 3.06 | -16.39 | 8.9 | 3.87 | -31.63 | 52.36 | 2.66 | -42.92 | 26.07 | 1.40 | -40.43 | 34.62 | 0.57 | -37.36 | 5.56 | 0.18 | 5.88 | 5.88 | 9.03 | -19.16 | 7.24 | 186.20 | -1.16 | 2.08 | 79.10 | 22.13 | -28.14 | 20.90 | -40.68 | 291.27 | 10.04 | -6.43 | -7.72 |
| 20Q3 (7) | 11.84 | -1.99 | -15.06 | 3.66 | -36.57 | 8.61 | 5.66 | -10.87 | 162.04 | 4.66 | 7.62 | 67.03 | 2.35 | -5.24 | 104.35 | 0.91 | -7.14 | 49.18 | 0.17 | -15.0 | 21.43 | 11.17 | -0.27 | 18.08 | 188.38 | -3.05 | 0.49 | 64.77 | -28.58 | -58.6 | 35.23 | 291.02 | 162.38 | 10.73 | 18.69 | -7.34 |
| 20Q2 (6) | 12.08 | -5.63 | -12.4 | 5.77 | 29.95 | 28.22 | 6.35 | 41.11 | 57.18 | 4.33 | 30.03 | 34.89 | 2.48 | 65.33 | 24.0 | 0.98 | 44.12 | 11.36 | 0.20 | 25.0 | -9.09 | 11.20 | 4.19 | 32.7 | 194.30 | 3.86 | -3.29 | 90.69 | -7.86 | -18.44 | 9.01 | 473.57 | 177.66 | 9.04 | -16.06 | -13.82 |
| 20Q1 (5) | 12.80 | 25.37 | -20.64 | 4.44 | 58.01 | -26.85 | 4.50 | 77.17 | -31.09 | 3.33 | 57.82 | -25.84 | 1.50 | 44.23 | -37.5 | 0.68 | 25.93 | -33.98 | 0.16 | -5.88 | -15.79 | 10.75 | 27.67 | -5.37 | 187.08 | 2.57 | 5.93 | 98.43 | -10.59 | 6.05 | 1.57 | 114.38 | -78.14 | 10.77 | -1.01 | -5.44 |
| 19Q4 (4) | 10.21 | -26.76 | 0.0 | 2.81 | -16.62 | 0.0 | 2.54 | 17.59 | 0.0 | 2.11 | -24.37 | 0.0 | 1.04 | -9.57 | 0.0 | 0.54 | -11.48 | 0.0 | 0.17 | 21.43 | 0.0 | 8.42 | -10.99 | 0.0 | 182.40 | -2.7 | 0.0 | 110.08 | -29.65 | 0.0 | -10.92 | 80.65 | 0.0 | 10.88 | -6.04 | 0.0 |
| 19Q3 (3) | 13.94 | 1.09 | 0.0 | 3.37 | -25.11 | 0.0 | 2.16 | -46.53 | 0.0 | 2.79 | -13.08 | 0.0 | 1.15 | -42.5 | 0.0 | 0.61 | -30.68 | 0.0 | 0.14 | -36.36 | 0.0 | 9.46 | 12.09 | 0.0 | 187.47 | -6.69 | 0.0 | 156.47 | 40.71 | 0.0 | -56.47 | -386.82 | 0.0 | 11.58 | 10.39 | 0.0 |
| 19Q2 (2) | 13.79 | -14.51 | 0.0 | 4.50 | -25.86 | 0.0 | 4.04 | -38.13 | 0.0 | 3.21 | -28.51 | 0.0 | 2.00 | -16.67 | 0.0 | 0.88 | -14.56 | 0.0 | 0.22 | 15.79 | 0.0 | 8.44 | -25.7 | 0.0 | 200.92 | 13.76 | 0.0 | 111.20 | 19.81 | 0.0 | -11.60 | -261.47 | 0.0 | 10.49 | -7.9 | 0.0 |
| 19Q1 (1) | 16.13 | 0.0 | 0.0 | 6.07 | 0.0 | 0.0 | 6.53 | 0.0 | 0.0 | 4.49 | 0.0 | 0.0 | 2.40 | 0.0 | 0.0 | 1.03 | 0.0 | 0.0 | 0.19 | 0.0 | 0.0 | 11.36 | 0.0 | 0.0 | 176.61 | 0.0 | 0.0 | 92.82 | 0.0 | 0.0 | 7.18 | 0.0 | 0.0 | 11.39 | 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) | 14.86 | 21.6 | 5.52 | 74.13 | 4.82 | -0.58 | 6.63 | 28.99 | 4.75 | 24.35 | 7.39 | 11.97 | 3.55 | 16.01 | 0.69 | -5.48 | 11.98 | 13.88 | 127.60 | 6.14 | 83.27 | 35.07 | 16.73 | -56.26 | 0.21 | -0.71 | 10.67 | 7.02 |
| 2022 (9) | 12.22 | 17.39 | 3.17 | 21.92 | 4.85 | 19.93 | 5.14 | 66.88 | 3.82 | 66.81 | 6.60 | 31.74 | 3.06 | 46.41 | 0.73 | -9.88 | 10.52 | 39.52 | 120.22 | -22.58 | 61.65 | -26.9 | 38.24 | 144.18 | 0.21 | -39.11 | 9.97 | 7.09 |
| 2021 (8) | 10.41 | -12.59 | 2.60 | -38.68 | 4.04 | -10.91 | 3.08 | -39.73 | 2.29 | -38.77 | 5.01 | -31.65 | 2.09 | -30.79 | 0.81 | 17.39 | 7.54 | -28.26 | 155.28 | -16.61 | 84.34 | 1.62 | 15.66 | -7.9 | 0.35 | 6.11 | 9.31 | -7.82 |
| 2020 (7) | 11.91 | -12.49 | 4.24 | -1.4 | 4.54 | 10.78 | 5.11 | 28.39 | 3.74 | 16.51 | 7.33 | 8.59 | 3.02 | -5.63 | 0.69 | -9.21 | 10.51 | 11.69 | 186.20 | 2.08 | 83.00 | -23.23 | 17.00 | 0 | 0.33 | -11.13 | 10.10 | -8.43 |
| 2019 (6) | 13.61 | -13.97 | 4.30 | -41.34 | 4.10 | 23.31 | 3.98 | -43.3 | 3.21 | -37.3 | 6.75 | -43.94 | 3.20 | -37.62 | 0.76 | -14.61 | 9.41 | -15.98 | 182.40 | 5.17 | 108.11 | 3.46 | -8.11 | 0 | 0.37 | 129.46 | 11.03 | -3.25 |
| 2018 (5) | 15.82 | 4.63 | 7.33 | 2.23 | 3.32 | -1.51 | 7.02 | -2.77 | 5.12 | -2.48 | 12.04 | 9.26 | 5.13 | 4.69 | 0.89 | 2.3 | 11.20 | 0.81 | 173.43 | 11.27 | 104.50 | 5.24 | -4.50 | 0 | 0.16 | 0 | 11.40 | 0.44 |
| 2017 (4) | 15.12 | -27.27 | 7.17 | -36.1 | 3.37 | -10.46 | 7.22 | -35.48 | 5.25 | -33.46 | 11.02 | -23.21 | 4.90 | -28.26 | 0.87 | 6.1 | 11.11 | -28.46 | 155.87 | 21.8 | 99.30 | -1.05 | 0.70 | 0 | 0.00 | 0 | 11.35 | -12.08 |
| 2016 (3) | 20.79 | 21.72 | 11.22 | 54.55 | 3.77 | -12.35 | 11.19 | 36.13 | 7.89 | 34.18 | 14.35 | 58.04 | 6.83 | 46.25 | 0.82 | 12.33 | 15.53 | 17.47 | 127.97 | 11.31 | 100.35 | 13.72 | -0.35 | 0 | 0.00 | 0 | 12.91 | -2.64 |
| 2015 (2) | 17.08 | -1.84 | 7.26 | -17.69 | 4.30 | 10.39 | 8.22 | -14.46 | 5.88 | -12.11 | 9.08 | -27.76 | 4.67 | -26.11 | 0.73 | -17.05 | 13.22 | -6.51 | 114.97 | 6.98 | 88.25 | -3.86 | 11.75 | 43.15 | 0.00 | 0 | 13.26 | 11.71 |
| 2014 (1) | 17.40 | 0 | 8.82 | 0 | 3.89 | -9.38 | 9.61 | 0 | 6.69 | 0 | 12.57 | 0 | 6.32 | 0 | 0.88 | -2.22 | 14.14 | -1.33 | 107.47 | -10.85 | 91.79 | -5.04 | 8.21 | 150.94 | 0.00 | 0 | 11.87 | 15.02 |
