- 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) | 22.20 | -6.05 | -8.94 | 3.29 | -55.36 | -52.66 | -2.59 | -117.38 | -180.94 | -1.54 | -112.25 | -166.67 | -0.39 | -110.63 | -145.35 | -0.05 | -102.89 | -110.87 | 0.12 | -7.69 | -20.0 | 3.83 | -81.81 | -53.63 | 111.82 | -8.01 | -20.07 | -126.92 | -355.47 | -158.93 | 223.08 | 343.33 | 293.33 | 16.08 | 0.19 | -11.5 |
| 23Q3 (19) | 23.63 | 14.26 | 5.26 | 7.37 | 113.62 | -13.5 | 14.90 | 57.84 | -4.85 | 12.57 | 54.8 | 1.53 | 3.67 | 47.39 | -35.61 | 1.73 | 47.86 | -23.45 | 0.13 | 0.0 | -23.53 | 21.06 | 35.78 | 3.64 | 121.56 | -15.24 | -20.83 | 49.68 | 36.27 | -8.77 | 50.32 | -20.81 | 10.49 | 16.05 | -6.63 | 6.01 |
| 23Q2 (18) | 20.68 | -5.61 | -7.88 | 3.45 | -47.57 | -58.03 | 9.44 | 38.42 | -20.0 | 8.12 | 48.99 | -12.31 | 2.49 | 33.16 | -34.82 | 1.17 | 28.57 | -18.18 | 0.13 | -7.14 | -7.14 | 15.51 | 25.59 | -10.14 | 143.41 | 5.45 | -21.56 | 36.46 | -62.08 | -47.69 | 63.54 | 1552.08 | 109.69 | 17.19 | 7.3 | 9.49 |
| 23Q1 (17) | 21.91 | -10.13 | 1.15 | 6.58 | -5.32 | -26.23 | 6.82 | 113.12 | -43.31 | 5.45 | 135.93 | -42.51 | 1.87 | 117.44 | -60.88 | 0.91 | 97.83 | -47.7 | 0.14 | -6.67 | -22.22 | 12.35 | 49.52 | -23.24 | 136.00 | -2.78 | -30.71 | 96.15 | -55.36 | 29.31 | 3.85 | 103.33 | -85.0 | 16.02 | -11.83 | 18.23 |
| 22Q4 (16) | 24.38 | 8.6 | 24.26 | 6.95 | -18.43 | 90.93 | 3.20 | -79.57 | 0.95 | 2.31 | -81.34 | 52.98 | 0.86 | -84.91 | 38.71 | 0.46 | -79.65 | 53.33 | 0.15 | -11.76 | -6.25 | 8.26 | -59.35 | 1.6 | 139.89 | -8.9 | -19.91 | 215.38 | 295.49 | 86.28 | -115.38 | -353.37 | -638.46 | 18.17 | 20.01 | 11.75 |
| 22Q3 (15) | 22.45 | 0.0 | 1.54 | 8.52 | 3.65 | -3.84 | 15.66 | 32.71 | 97.48 | 12.38 | 33.69 | 82.06 | 5.70 | 49.21 | 78.68 | 2.26 | 58.04 | 63.77 | 0.17 | 21.43 | -15.0 | 20.32 | 17.73 | 66.42 | 153.55 | -16.01 | 12.65 | 54.46 | -21.86 | -50.99 | 45.54 | 50.28 | 472.6 | 15.14 | -3.57 | 1.54 |
| 22Q2 (14) | 22.45 | 3.65 | 13.56 | 8.22 | -7.85 | 90.28 | 11.80 | -1.91 | 453.99 | 9.26 | -2.32 | 363.0 | 3.82 | -20.08 | 344.19 | 1.43 | -17.82 | 240.48 | 0.14 | -22.22 | -22.22 | 17.26 | 7.27 | 151.6 | 182.83 | -6.85 | 28.83 | 69.70 | -6.27 | -65.93 | 30.30 | 18.18 | 128.99 | 15.70 | 15.87 | -3.8 |
| 22Q1 (13) | 21.66 | 10.4 | 5.56 | 8.92 | 145.05 | 80.2 | 12.03 | 279.5 | 92.79 | 9.48 | 527.81 | 98.33 | 4.78 | 670.97 | 104.27 | 1.74 | 480.0 | 64.15 | 0.18 | 12.5 | -14.29 | 16.09 | 97.91 | 53.24 | 196.28 | 12.38 | 54.05 | 74.36 | -35.69 | -5.72 | 25.64 | 264.1 | 21.37 | 13.55 | -16.67 | -16.1 |
| 21Q4 (12) | 19.62 | -11.26 | -6.53 | 3.64 | -58.92 | -17.08 | 3.17 | -60.03 | 42.15 | 1.51 | -77.79 | -46.26 | 0.62 | -80.56 | -51.18 | 0.30 | -78.26 | -50.82 | 0.16 | -20.0 | -20.0 | 8.13 | -33.42 | 14.03 | 174.66 | 28.13 | 26.26 | 115.62 | 4.06 | -40.84 | -15.62 | -27.84 | 83.63 | 16.26 | 9.05 | 7.4 |
| 21Q3 (11) | 22.11 | 11.84 | 1.66 | 8.86 | 105.09 | 47.67 | 7.93 | 272.3 | 99.25 | 6.80 | 240.0 | 153.73 | 3.19 | 270.93 | 175.0 | 1.38 | 228.57 | 137.93 | 0.20 | 11.11 | 5.26 | 12.21 | 77.99 | 36.12 | 136.31 | -3.95 | 7.83 | 111.11 | -45.68 | -27.27 | -12.22 | 88.31 | 75.56 | 14.91 | -8.64 | 7.27 |
| 21Q2 (10) | 19.77 | -3.65 | 1.44 | 4.32 | -12.73 | 700.0 | 2.13 | -65.87 | 186.59 | 2.00 | -58.16 | 261.29 | 0.86 | -63.25 | 320.51 | 0.42 | -60.38 | 481.82 | 0.18 | -14.29 | 28.57 | 6.86 | -34.67 | 54.16 | 141.92 | 11.39 | 12.47 | 204.55 | 159.33 | 969.32 | -104.55 | -594.85 | -188.86 | 16.32 | 1.05 | 0 |
| 21Q1 (9) | 20.52 | -2.24 | -6.3 | 4.95 | 12.76 | -10.49 | 6.24 | 179.82 | -21.31 | 4.78 | 70.11 | -19.66 | 2.34 | 84.25 | -8.24 | 1.06 | 73.77 | -12.4 | 0.21 | 5.0 | 10.53 | 10.50 | 47.27 | -17.97 | 127.41 | -7.89 | 5.62 | 78.87 | -59.65 | 13.76 | 21.13 | 122.13 | -31.11 | 16.15 | 6.67 | 13.97 |
| 20Q4 (8) | 20.99 | -3.49 | -12.58 | 4.39 | -26.83 | -10.95 | 2.23 | -43.97 | -29.87 | 2.81 | 4.85 | 22.71 | 1.27 | 9.48 | 29.59 | 0.61 | 5.17 | 19.61 | 0.20 | 5.26 | 5.26 | 7.13 | -20.51 | -14.1 | 138.33 | 9.43 | 10.27 | 195.45 | 27.93 | 23.22 | -95.45 | -90.91 | -73.01 | 15.14 | 8.92 | -20.61 |
| 20Q3 (7) | 21.75 | 11.6 | 1.45 | 6.00 | 1011.11 | -9.77 | 3.98 | 261.79 | -56.93 | 2.68 | 316.13 | -63.93 | 1.16 | 397.44 | -67.69 | 0.58 | 627.27 | -65.88 | 0.19 | 35.71 | -13.64 | 8.97 | 101.57 | -34.43 | 126.41 | 0.18 | 3.62 | 152.78 | 749.31 | 110.35 | -50.00 | -142.5 | -275.93 | 13.90 | 0 | -8.31 |
| 20Q2 (6) | 19.49 | -11.0 | -4.83 | 0.54 | -90.24 | -88.46 | -2.46 | -131.02 | -124.48 | -1.24 | -120.84 | -117.15 | -0.39 | -115.29 | -111.89 | -0.11 | -109.09 | -106.83 | 0.14 | -26.32 | -33.33 | 4.45 | -65.23 | -69.69 | 126.18 | 4.6 | 5.72 | -23.53 | -133.94 | -150.72 | 117.65 | 283.63 | 119.46 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 21.90 | -8.79 | 7.09 | 5.53 | 12.17 | 8.01 | 7.93 | 149.37 | 14.76 | 5.95 | 159.83 | 5.68 | 2.55 | 160.2 | 7.59 | 1.21 | 137.25 | 1.68 | 0.19 | 0.0 | -5.0 | 12.80 | 54.22 | 10.73 | 120.63 | -3.84 | 10.08 | 69.33 | -56.29 | -6.55 | 30.67 | 155.58 | 18.83 | 14.17 | -25.69 | -12.37 |
| 19Q4 (4) | 24.01 | 11.99 | 0.0 | 4.93 | -25.86 | 0.0 | 3.18 | -65.58 | 0.0 | 2.29 | -69.18 | 0.0 | 0.98 | -72.7 | 0.0 | 0.51 | -70.0 | 0.0 | 0.19 | -13.64 | 0.0 | 8.30 | -39.33 | 0.0 | 125.45 | 2.84 | 0.0 | 158.62 | 118.39 | 0.0 | -55.17 | -294.13 | 0.0 | 19.07 | 25.79 | 0.0 |
| 19Q3 (3) | 21.44 | 4.69 | 0.0 | 6.65 | 42.09 | 0.0 | 9.24 | -8.06 | 0.0 | 7.43 | 2.77 | 0.0 | 3.59 | 9.45 | 0.0 | 1.70 | 5.59 | 0.0 | 0.22 | 4.76 | 0.0 | 13.68 | -6.81 | 0.0 | 121.99 | 2.21 | 0.0 | 72.63 | 56.56 | 0.0 | 28.42 | -46.98 | 0.0 | 15.16 | -4.47 | 0.0 |
| 19Q2 (2) | 20.48 | 0.15 | 0.0 | 4.68 | -8.59 | 0.0 | 10.05 | 45.44 | 0.0 | 7.23 | 28.42 | 0.0 | 3.28 | 38.4 | 0.0 | 1.61 | 35.29 | 0.0 | 0.21 | 5.0 | 0.0 | 14.68 | 26.99 | 0.0 | 119.35 | 8.92 | 0.0 | 46.39 | -37.47 | 0.0 | 53.61 | 107.73 | 0.0 | 15.87 | -1.86 | 0.0 |
| 19Q1 (1) | 20.45 | 0.0 | 0.0 | 5.12 | 0.0 | 0.0 | 6.91 | 0.0 | 0.0 | 5.63 | 0.0 | 0.0 | 2.37 | 0.0 | 0.0 | 1.19 | 0.0 | 0.0 | 0.20 | 0.0 | 0.0 | 11.56 | 0.0 | 0.0 | 109.58 | 0.0 | 0.0 | 74.19 | 0.0 | 0.0 | 25.81 | 0.0 | 0.0 | 16.17 | 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) | 22.11 | -2.64 | 5.24 | -35.94 | 4.66 | 19.71 | 7.26 | -32.9 | 6.23 | -26.53 | 7.21 | -50.31 | 3.73 | -39.15 | 0.51 | -23.88 | 13.26 | -14.89 | 111.82 | -20.07 | 72.46 | -4.1 | 27.87 | 14.01 | 0.13 | 32.63 | 16.32 | 4.68 |
| 2022 (9) | 22.71 | 10.51 | 8.18 | 48.19 | 3.89 | -3.71 | 10.82 | 117.27 | 8.48 | 119.12 | 14.51 | 103.22 | 6.13 | 105.7 | 0.67 | -6.94 | 15.58 | 63.66 | 139.89 | -19.91 | 75.56 | -32.06 | 24.44 | 0 | 0.10 | -15.11 | 15.59 | -1.89 |
| 2021 (8) | 20.55 | -2.84 | 5.52 | 26.03 | 4.04 | -13.39 | 4.98 | 50.0 | 3.87 | 36.27 | 7.14 | 56.24 | 2.98 | 34.23 | 0.72 | 4.35 | 9.52 | 10.83 | 174.66 | 26.26 | 111.21 | -15.51 | -10.75 | 0 | 0.12 | -31.88 | 15.89 | 3.72 |
| 2020 (7) | 21.15 | -2.04 | 4.38 | -18.59 | 4.67 | 13.7 | 3.32 | -55.32 | 2.84 | -50.26 | 4.57 | -55.2 | 2.22 | -55.15 | 0.69 | -15.85 | 8.59 | -29.18 | 138.33 | 10.27 | 131.62 | 81.46 | -31.62 | 0 | 0.17 | -43.63 | 15.32 | -7.26 |
| 2019 (6) | 21.59 | 7.57 | 5.38 | 27.19 | 4.10 | 21.23 | 7.43 | -19.15 | 5.71 | -10.36 | 10.20 | -12.07 | 4.95 | -9.01 | 0.82 | 2.5 | 12.13 | -8.45 | 125.45 | 11.19 | 72.54 | 57.58 | 27.46 | -49.11 | 0.31 | -14.46 | 16.52 | -9.13 |
| 2018 (5) | 20.07 | -12.4 | 4.23 | -42.84 | 3.38 | 11.77 | 9.19 | 5.39 | 6.37 | 7.06 | 11.60 | -17.44 | 5.44 | -8.42 | 0.80 | -15.79 | 13.25 | 8.08 | 112.82 | -21.91 | 46.03 | -45.77 | 53.97 | 256.93 | 0.36 | -27.61 | 18.18 | 12.85 |
| 2017 (4) | 22.91 | -3.82 | 7.40 | -23.32 | 3.03 | -10.94 | 8.72 | 13.84 | 5.95 | 22.43 | 14.05 | 21.65 | 5.94 | 16.47 | 0.95 | -4.04 | 12.26 | 6.52 | 144.48 | -8.3 | 84.88 | -32.56 | 15.12 | 0 | 0.49 | 0 | 16.11 | -7.73 |
| 2016 (3) | 23.82 | 4.7 | 9.65 | 20.63 | 3.40 | -20.12 | 7.66 | 18.94 | 4.86 | -3.19 | 11.55 | -7.89 | 5.10 | -4.14 | 0.99 | 4.21 | 11.51 | 0.44 | 157.55 | 28.28 | 125.85 | 0.97 | -25.85 | 0 | 0.00 | 0 | 17.46 | -7.91 |
| 2015 (2) | 22.75 | 23.24 | 8.00 | 59.68 | 4.26 | 9.82 | 6.44 | 86.67 | 5.02 | 132.41 | 12.54 | 80.43 | 5.32 | 80.34 | 0.95 | -6.86 | 11.46 | 38.07 | 122.82 | -45.36 | 124.65 | -14.84 | -23.94 | 0 | 0.00 | 0 | 18.96 | 3.89 |
| 2014 (1) | 18.46 | 0 | 5.01 | 0 | 3.88 | -24.82 | 3.45 | 0 | 2.16 | 0 | 6.95 | 0 | 2.95 | 0 | 1.02 | -2.86 | 8.30 | -8.39 | 224.77 | 8.84 | 146.38 | 91.8 | -44.93 | 0 | 0.00 | 0 | 18.25 | -7.64 |
