- 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) | 20.18 | -7.73 | 15.45 | -0.68 | -127.53 | -189.47 | -0.95 | -107.9 | -427.59 | -1.36 | -117.24 | -403.7 | -0.79 | -117.44 | -364.71 | -0.25 | -111.01 | -377.78 | 0.28 | 3.7 | 3.7 | 2.74 | -82.79 | -32.68 | 102.30 | -8.7 | -20.72 | 75.00 | 264.29 | -67.86 | 25.00 | -68.52 | 118.75 | 12.93 | -14.37 | 20.62 |
| 23Q3 (19) | 21.87 | 20.3 | 23.28 | 2.47 | 100.81 | 32.09 | 12.03 | 560.99 | 337.45 | 7.89 | 563.03 | 356.07 | 4.53 | 556.52 | 304.46 | 2.27 | 393.48 | 284.75 | 0.27 | 3.85 | 0.0 | 15.92 | 176.39 | 163.58 | 112.05 | -1.4 | -17.71 | 20.59 | -69.12 | -69.72 | 79.41 | 138.24 | 148.16 | 15.10 | 14.65 | 18.99 |
| 23Q2 (18) | 18.18 | -4.32 | 5.03 | 1.23 | 89.23 | 18.27 | 1.82 | 810.0 | 658.33 | 1.19 | 364.44 | 1800.0 | 0.69 | 400.0 | 1825.0 | 0.46 | 666.67 | 283.33 | 0.26 | 13.04 | -7.14 | 5.76 | 24.14 | 60.45 | 113.64 | -11.89 | -22.99 | 66.67 | -73.33 | -86.67 | 33.33 | 122.22 | 108.33 | 13.17 | -5.39 | 13.53 |
| 23Q1 (17) | 19.00 | 8.7 | 6.32 | 0.65 | -14.47 | -53.24 | 0.20 | -31.03 | -91.45 | -0.45 | -66.67 | -131.69 | -0.23 | -35.29 | -126.14 | 0.06 | -33.33 | -86.96 | 0.23 | -14.81 | -11.54 | 4.64 | 14.0 | -19.02 | 128.98 | -0.04 | -1.21 | 250.00 | 7.14 | 316.67 | -150.00 | -12.5 | -475.0 | 13.92 | 29.85 | 7.57 |
| 22Q4 (16) | 17.48 | -1.47 | -2.18 | 0.76 | -59.36 | -70.88 | 0.29 | -89.45 | -90.14 | -0.27 | -115.61 | -115.34 | -0.17 | -115.18 | -113.18 | 0.09 | -84.75 | -85.71 | 0.27 | 0.0 | -10.0 | 4.07 | -32.62 | -31.48 | 129.03 | -5.24 | -10.51 | 233.33 | 243.14 | 170.67 | -133.33 | -516.67 | -1388.89 | 10.72 | -15.52 | -3.07 |
| 22Q3 (15) | 17.74 | 2.48 | -6.09 | 1.87 | 79.81 | -22.73 | 2.75 | 1045.83 | 88.36 | 1.73 | 2571.43 | 96.59 | 1.12 | 2900.0 | 89.83 | 0.59 | 391.67 | 73.53 | 0.27 | -3.57 | -3.57 | 6.04 | 68.25 | 32.75 | 136.16 | -7.73 | -1.4 | 68.00 | -86.4 | -57.9 | 32.00 | 108.0 | 152.0 | 12.69 | 9.4 | 7.82 |
| 22Q2 (14) | 17.31 | -3.13 | -0.06 | 1.04 | -25.18 | 9.47 | 0.24 | -89.74 | 33.33 | -0.07 | -104.93 | -119.44 | -0.04 | -104.55 | -116.67 | 0.12 | -73.91 | -36.84 | 0.28 | 7.69 | 3.7 | 3.59 | -37.35 | 6.85 | 147.57 | 13.03 | 6.88 | 500.00 | 733.33 | 25.0 | -400.00 | -1100.0 | -14.29 | 11.60 | -10.36 | 0.35 |
| 22Q1 (13) | 17.87 | 0.0 | -4.74 | 1.39 | -46.74 | -15.76 | 2.34 | -20.41 | 50.0 | 1.42 | -19.32 | 47.92 | 0.88 | -31.78 | 41.94 | 0.46 | -26.98 | 43.75 | 0.26 | -13.33 | -3.7 | 5.73 | -3.54 | 19.13 | 130.56 | -9.45 | -7.88 | 60.00 | -30.4 | -44.29 | 40.00 | 286.67 | 620.0 | 12.94 | 17.0 | -1.22 |
| 21Q4 (12) | 17.87 | -5.4 | -14.66 | 2.61 | 7.85 | -40.82 | 2.94 | 101.37 | -42.24 | 1.76 | 100.0 | -50.56 | 1.29 | 118.64 | -50.95 | 0.63 | 85.29 | -47.5 | 0.30 | 7.14 | -3.23 | 5.94 | 30.55 | -26.3 | 144.19 | 4.41 | 3.83 | 86.21 | -46.63 | -1.18 | 10.34 | 116.81 | -18.97 | 11.06 | -6.03 | -4.66 |
| 21Q3 (11) | 18.89 | 9.06 | -22.17 | 2.42 | 154.74 | -67.3 | 1.46 | 711.11 | -79.49 | 0.88 | 144.44 | -82.19 | 0.59 | 145.83 | -83.0 | 0.34 | 78.95 | -77.92 | 0.28 | 3.7 | -3.45 | 4.55 | 35.42 | -56.91 | 138.10 | 0.02 | -0.58 | 161.54 | -59.62 | 56.41 | -61.54 | 82.42 | -1776.92 | 11.77 | 1.82 | -7.54 |
| 21Q2 (10) | 17.32 | -7.68 | -28.99 | 0.95 | -42.42 | -84.6 | 0.18 | -88.46 | -97.23 | 0.36 | -62.5 | -92.05 | 0.24 | -61.29 | -91.78 | 0.19 | -40.62 | -85.38 | 0.27 | 0.0 | 3.85 | 3.36 | -30.15 | -67.41 | 138.07 | -2.58 | -4.89 | 400.00 | 271.43 | 325.53 | -350.00 | -4450.0 | -8850.0 | 11.56 | -11.76 | -2.36 |
| 21Q1 (9) | 18.76 | -10.41 | -1.47 | 1.65 | -62.59 | 169.33 | 1.56 | -69.35 | 172.22 | 0.96 | -73.03 | 173.28 | 0.62 | -76.43 | 192.54 | 0.32 | -73.33 | 300.0 | 0.27 | -12.9 | 28.57 | 4.81 | -40.32 | 84.29 | 141.73 | 2.06 | -2.26 | 107.69 | 23.45 | -6.67 | -7.69 | -160.26 | 0.0 | 13.10 | 12.93 | 0 |
| 20Q4 (8) | 20.94 | -13.72 | 3.25 | 4.41 | -40.41 | 858.7 | 5.09 | -28.51 | 210.37 | 3.56 | -27.94 | 252.48 | 2.63 | -24.21 | 270.42 | 1.20 | -22.08 | 192.68 | 0.31 | 6.9 | 6.9 | 8.06 | -23.67 | 44.44 | 138.87 | -0.03 | -2.52 | 87.23 | -15.54 | 205.32 | 12.77 | 489.36 | -82.13 | 11.60 | -8.88 | 9.95 |
| 20Q3 (7) | 24.27 | -0.49 | 20.75 | 7.40 | 19.94 | 231.84 | 7.12 | 9.71 | 345.0 | 4.94 | 9.05 | 301.63 | 3.47 | 18.84 | 318.07 | 1.54 | 18.46 | 242.22 | 0.29 | 11.54 | 3.57 | 10.56 | 2.42 | 106.25 | 138.91 | -4.31 | -2.91 | 103.28 | 9.87 | -25.41 | -3.28 | -181.97 | 91.48 | 12.73 | 7.52 | 2.74 |
| 20Q2 (6) | 24.39 | 28.1 | 24.31 | 6.17 | 359.24 | 152.87 | 6.49 | 400.46 | 114.19 | 4.53 | 445.8 | 101.33 | 2.92 | 535.82 | 93.38 | 1.30 | 912.5 | 78.08 | 0.26 | 23.81 | -7.14 | 10.31 | 295.02 | 54.57 | 145.17 | 0.12 | 2.88 | 94.00 | -18.53 | 17.5 | 4.00 | 152.0 | -80.0 | 11.84 | 0 | -6.85 |
| 20Q1 (5) | 19.04 | -6.11 | 3.48 | -2.38 | -617.39 | -455.22 | -2.16 | -231.71 | -185.04 | -1.31 | -229.7 | -186.18 | -0.67 | -194.37 | -172.04 | -0.16 | -139.02 | -134.04 | 0.21 | -27.59 | -19.23 | 2.61 | -53.23 | -56.79 | 145.00 | 1.78 | 7.73 | 115.38 | 303.85 | 338.46 | -7.69 | -110.77 | -110.44 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 20.28 | 0.9 | 0.0 | 0.46 | -79.37 | 0.0 | 1.64 | 2.5 | 0.0 | 1.01 | -17.89 | 0.0 | 0.71 | -14.46 | 0.0 | 0.41 | -8.89 | 0.0 | 0.29 | 3.57 | 0.0 | 5.58 | 8.98 | 0.0 | 142.46 | -0.43 | 0.0 | 28.57 | -79.37 | 0.0 | 71.43 | 285.71 | 0.0 | 10.55 | -14.85 | 0.0 |
| 19Q3 (3) | 20.10 | 2.45 | 0.0 | 2.23 | -8.61 | 0.0 | 1.60 | -47.19 | 0.0 | 1.23 | -45.33 | 0.0 | 0.83 | -45.03 | 0.0 | 0.45 | -38.36 | 0.0 | 0.28 | 0.0 | 0.0 | 5.12 | -23.24 | 0.0 | 143.07 | 1.4 | 0.0 | 138.46 | 73.08 | 0.0 | -38.46 | -292.31 | 0.0 | 12.39 | -2.52 | 0.0 |
| 19Q2 (2) | 19.62 | 6.63 | 0.0 | 2.44 | 264.18 | 0.0 | 3.03 | 19.29 | 0.0 | 2.25 | 48.03 | 0.0 | 1.51 | 62.37 | 0.0 | 0.73 | 55.32 | 0.0 | 0.28 | 7.69 | 0.0 | 6.67 | 10.43 | 0.0 | 141.10 | 4.84 | 0.0 | 80.00 | 204.0 | 0.0 | 20.00 | -72.86 | 0.0 | 12.71 | -4.65 | 0.0 |
| 19Q1 (1) | 18.40 | 0.0 | 0.0 | 0.67 | 0.0 | 0.0 | 2.54 | 0.0 | 0.0 | 1.52 | 0.0 | 0.0 | 0.93 | 0.0 | 0.0 | 0.47 | 0.0 | 0.0 | 0.26 | 0.0 | 0.0 | 6.04 | 0.0 | 0.0 | 134.59 | 0.0 | 0.0 | 26.32 | 0.0 | 0.0 | 73.68 | 0.0 | 0.0 | 13.33 | 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) | 19.84 | 12.79 | 0.91 | -27.78 | 3.05 | 14.97 | 3.33 | 139.57 | 1.86 | 169.57 | 4.20 | 130.77 | 2.54 | 95.38 | 1.05 | -5.41 | 7.31 | 51.03 | 102.30 | -20.72 | 27.27 | -69.76 | 72.73 | 641.82 | 0.43 | 10.04 | 13.77 | 14.94 |
| 2022 (9) | 17.59 | -3.35 | 1.26 | -35.05 | 2.65 | 4.65 | 1.39 | -12.03 | 0.69 | -32.35 | 1.82 | -33.82 | 1.30 | -12.75 | 1.11 | -0.89 | 4.84 | 2.98 | 129.03 | -10.51 | 90.20 | -26.8 | 9.80 | 0 | 0.39 | -24.22 | 11.98 | 1.18 |
| 2021 (8) | 18.20 | -18.39 | 1.94 | -55.2 | 2.54 | -11.88 | 1.58 | -65.43 | 1.02 | -68.32 | 2.75 | -66.42 | 1.49 | -61.1 | 1.12 | 5.66 | 4.70 | -42.61 | 144.19 | 3.83 | 123.21 | 29.51 | -23.21 | 0 | 0.52 | -20.83 | 11.84 | -6.25 |
| 2020 (7) | 22.30 | 13.6 | 4.33 | 196.58 | 2.88 | 0.01 | 4.57 | 108.68 | 3.22 | 114.67 | 8.19 | 103.23 | 3.83 | 85.92 | 1.06 | -4.5 | 8.19 | 40.0 | 138.87 | -2.52 | 95.14 | 43.72 | 5.56 | -83.56 | 0.65 | -16.77 | 12.63 | 3.44 |
| 2019 (6) | 19.63 | 12.56 | 1.46 | 128.12 | 2.88 | 30.13 | 2.19 | 48.98 | 1.50 | 47.06 | 4.03 | 45.49 | 2.06 | 37.33 | 1.11 | -7.5 | 5.85 | 38.95 | 142.46 | 0.17 | 66.20 | 51.31 | 33.80 | -39.91 | 0.79 | -15.46 | 12.21 | 3.47 |
| 2018 (5) | 17.44 | -8.02 | 0.64 | -64.25 | 2.21 | 8.17 | 1.47 | -15.52 | 1.02 | -5.56 | 2.77 | 6.54 | 1.50 | -1.96 | 1.20 | 4.35 | 4.21 | -2.77 | 142.22 | 27.75 | 43.75 | -57.97 | 56.25 | 0 | 0.93 | 11.48 | 11.80 | -1.58 |
| 2017 (4) | 18.96 | -11.98 | 1.79 | -53.02 | 2.04 | 11.34 | 1.74 | -59.06 | 1.08 | -64.0 | 2.60 | -62.26 | 1.53 | -59.74 | 1.15 | -4.96 | 4.33 | -33.79 | 111.33 | 4.2 | 104.08 | 15.53 | -2.04 | 0 | 0.83 | 0 | 11.99 | -6.77 |
| 2016 (3) | 21.54 | -1.87 | 3.81 | -18.76 | 1.84 | -2.16 | 4.25 | -24.38 | 3.00 | -28.06 | 6.89 | -28.0 | 3.80 | -33.45 | 1.21 | -9.02 | 6.54 | -17.74 | 106.84 | 48.6 | 90.09 | 8.11 | 9.91 | -40.54 | 0.00 | 0 | 12.86 | 2.47 |
| 2015 (2) | 21.95 | 6.66 | 4.69 | 83.2 | 1.88 | -5.75 | 5.62 | 15.88 | 4.17 | 13.93 | 9.57 | 12.85 | 5.71 | 12.85 | 1.33 | 0.76 | 7.95 | 8.02 | 71.90 | -0.55 | 83.33 | 58.19 | 16.67 | -64.78 | 0.00 | 0 | 12.55 | -5.57 |
| 2014 (1) | 20.58 | 0 | 2.56 | 0 | 1.99 | -16.99 | 4.85 | 0 | 3.66 | 0 | 8.48 | 0 | 5.06 | 0 | 1.32 | 4.76 | 7.36 | 11.01 | 72.30 | -9.59 | 52.68 | -42.87 | 47.32 | 507.29 | 0.00 | 0 | 13.29 | -2.42 |
