- 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) | 15.73 | -21.31 | 65.93 | 4.45 | -22.47 | 60.07 | 6.70 | 3.24 | 92.53 | 5.88 | 12.86 | 104.17 | 4.18 | 28.62 | -29.98 | 2.10 | 31.25 | 29.63 | 0.36 | 20.0 | -34.55 | 7.24 | 0.7 | 64.92 | 103.88 | 8.16 | -54.95 | 65.67 | -26.12 | -17.09 | 32.84 | 195.52 | 65.82 | 10.87 | -8.89 | 148.17 |
| 23Q3 (19) | 19.99 | -5.66 | 64.12 | 5.74 | -18.0 | -6.36 | 6.49 | -22.92 | -0.92 | 5.21 | -23.94 | -1.7 | 3.25 | -21.5 | -65.54 | 1.60 | -17.1 | -40.74 | 0.30 | 7.14 | -41.18 | 7.19 | -22.1 | -6.26 | 96.04 | -16.68 | -70.13 | 88.89 | 6.97 | -4.81 | 11.11 | -34.26 | 67.78 | 11.93 | 3.92 | 140.52 |
| 23Q2 (18) | 21.19 | 12.77 | 1.19 | 7.00 | 63.17 | 32.08 | 8.42 | 79.53 | 20.11 | 6.85 | 87.16 | 23.42 | 4.14 | 110.15 | 34.42 | 1.93 | 153.95 | 37.86 | 0.28 | 47.37 | 12.0 | 9.23 | 26.79 | -12.59 | 115.26 | -5.45 | -33.18 | 83.10 | -9.57 | 11.53 | 16.90 | 108.45 | -28.17 | 11.48 | -9.03 | -11.28 |
| 23Q1 (17) | 18.79 | 98.21 | -8.07 | 4.29 | 54.32 | -24.87 | 4.69 | 34.77 | -30.21 | 3.66 | 27.08 | -33.09 | 1.97 | -67.0 | -33.67 | 0.76 | -53.09 | -53.09 | 0.19 | -65.45 | -34.48 | 7.28 | 65.83 | -28.7 | 121.91 | -47.14 | 60.13 | 91.89 | 16.01 | 9.82 | 8.11 | -59.05 | -43.24 | 12.62 | 188.13 | -2.62 |
| 22Q4 (16) | 9.48 | -22.17 | -36.16 | 2.78 | -54.65 | 17.3 | 3.48 | -46.87 | -26.27 | 2.88 | -45.66 | -33.02 | 5.97 | -36.69 | 80.36 | 1.62 | -40.0 | -5.81 | 0.55 | 7.84 | 37.5 | 4.39 | -42.76 | -39.36 | 230.61 | -28.27 | 146.85 | 79.21 | -15.17 | 58.42 | 19.80 | 199.01 | -60.4 | 4.38 | -11.69 | -52.44 |
| 22Q3 (15) | 12.18 | -41.83 | -33.48 | 6.13 | 15.66 | 1.49 | 6.55 | -6.56 | -6.7 | 5.30 | -4.5 | -9.86 | 9.43 | 206.17 | 134.58 | 2.70 | 92.86 | 20.0 | 0.51 | 104.0 | 34.21 | 7.67 | -27.37 | -22.13 | 321.48 | 86.37 | 243.39 | 93.38 | 25.32 | 7.47 | 6.62 | -71.85 | -55.11 | 4.96 | -61.67 | -52.67 |
| 22Q2 (14) | 20.94 | 2.45 | 17.91 | 5.30 | -7.18 | -10.77 | 7.01 | 4.32 | -2.91 | 5.55 | 1.46 | -1.6 | 3.08 | 3.7 | -18.09 | 1.40 | -13.58 | -36.36 | 0.25 | -13.79 | -35.9 | 10.56 | 3.43 | 4.14 | 172.50 | 126.59 | 160.02 | 74.51 | -10.95 | -9.42 | 23.53 | 64.71 | 32.62 | 12.94 | -0.15 | 27.24 |
| 22Q1 (13) | 20.44 | 37.64 | 16.93 | 5.71 | 140.93 | -5.31 | 6.72 | 42.37 | 6.16 | 5.47 | 27.21 | 7.89 | 2.97 | -10.27 | -17.96 | 1.62 | -5.81 | -12.43 | 0.29 | -27.5 | -19.44 | 10.21 | 41.02 | 10.98 | 76.13 | -18.51 | 0.87 | 83.67 | 67.35 | -11.59 | 14.29 | -71.43 | 166.67 | 12.96 | 40.72 | 32.24 |
| 21Q4 (12) | 14.85 | -18.9 | -8.78 | 2.37 | -60.76 | 29.51 | 4.72 | -32.76 | -6.9 | 4.30 | -26.87 | -13.48 | 3.31 | -17.66 | -1.78 | 1.72 | -23.56 | 6.17 | 0.40 | 5.26 | 25.0 | 7.24 | -26.5 | -12.24 | 93.42 | -0.21 | -22.09 | 50.00 | -42.45 | 36.67 | 50.00 | 238.89 | -21.15 | 9.21 | -12.12 | -12.7 |
| 21Q3 (11) | 18.31 | 3.1 | 17.52 | 6.04 | 1.68 | 33.63 | 7.02 | -2.77 | 15.84 | 5.88 | 4.26 | 23.01 | 4.02 | 6.91 | -0.25 | 2.25 | 2.27 | 14.8 | 0.38 | -2.56 | -7.32 | 9.85 | -2.86 | 48.12 | 93.62 | 41.12 | -8.33 | 86.89 | 5.63 | 14.53 | 14.75 | -16.84 | -42.95 | 10.48 | 3.05 | 14.54 |
| 21Q2 (10) | 17.76 | 1.6 | 9.02 | 5.94 | -1.49 | 48.5 | 7.22 | 14.06 | 9.73 | 5.64 | 11.24 | 8.67 | 3.76 | 3.87 | -5.05 | 2.20 | 18.92 | 11.68 | 0.39 | 8.33 | 2.63 | 10.14 | 10.22 | 42.02 | 66.34 | -12.1 | -40.94 | 82.26 | -13.09 | 36.31 | 17.74 | 231.18 | -55.26 | 10.17 | 3.78 | 0 |
| 21Q1 (9) | 17.48 | 7.37 | 7.64 | 6.03 | 229.51 | 9.64 | 6.33 | 24.85 | 7.47 | 5.07 | 2.01 | 10.94 | 3.62 | 7.42 | 3.43 | 1.85 | 14.2 | 3.35 | 0.36 | 12.5 | -7.69 | 9.20 | 11.52 | 41.1 | 75.47 | -37.06 | -18.68 | 94.64 | 158.69 | 0.32 | 5.36 | -91.55 | -29.02 | 9.80 | -7.11 | 0 |
| 20Q4 (8) | 16.28 | 4.49 | -10.4 | 1.83 | -59.51 | -50.81 | 5.07 | -16.34 | 8.33 | 4.97 | 3.97 | 1.43 | 3.37 | -16.38 | -1.75 | 1.62 | -17.35 | -4.71 | 0.32 | -21.95 | -5.88 | 8.25 | 24.06 | 53.92 | 119.90 | 17.4 | 19.14 | 36.59 | -51.77 | -53.66 | 63.41 | 145.2 | 201.22 | 10.55 | 15.3 | 3.94 |
| 20Q3 (7) | 15.58 | -4.36 | 3.8 | 4.52 | 13.0 | -0.44 | 6.06 | -7.9 | 8.6 | 4.78 | -7.9 | 6.94 | 4.03 | 1.77 | -10.24 | 1.96 | -0.51 | -13.27 | 0.41 | 7.89 | -18.0 | 6.65 | -6.86 | 9.02 | 102.13 | -9.07 | -3.15 | 75.86 | 25.71 | -7.78 | 25.86 | -34.78 | 33.62 | 9.15 | 0 | 4.21 |
| 20Q2 (6) | 16.29 | 0.31 | -5.51 | 4.00 | -27.27 | 21.95 | 6.58 | 11.71 | 6.47 | 5.19 | 13.57 | 2.98 | 3.96 | 13.14 | 28.16 | 1.97 | 10.06 | 18.67 | 0.38 | -2.56 | 15.15 | 7.14 | 9.51 | 2.29 | 112.32 | 21.02 | 20.19 | 60.34 | -36.03 | 12.82 | 39.66 | 425.43 | -14.74 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 16.24 | -10.62 | -3.45 | 5.50 | 47.85 | 2.42 | 5.89 | 25.85 | -10.08 | 4.57 | -6.73 | -10.04 | 3.50 | 2.04 | -7.41 | 1.79 | 5.29 | -12.25 | 0.39 | 14.71 | -2.5 | 6.52 | 21.64 | -9.7 | 92.81 | -7.78 | 15.08 | 94.34 | 19.5 | 15.3 | 7.55 | -64.15 | -58.49 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 18.17 | 21.05 | 0.0 | 3.72 | -18.06 | 0.0 | 4.68 | -16.13 | 0.0 | 4.90 | 9.62 | 0.0 | 3.43 | -23.61 | 0.0 | 1.70 | -24.78 | 0.0 | 0.34 | -32.0 | 0.0 | 5.36 | -12.13 | 0.0 | 100.64 | -4.56 | 0.0 | 78.95 | -4.02 | 0.0 | 21.05 | 8.77 | 0.0 | 10.15 | 15.6 | 0.0 |
| 19Q3 (3) | 15.01 | -12.94 | 0.0 | 4.54 | 38.41 | 0.0 | 5.58 | -9.71 | 0.0 | 4.47 | -11.31 | 0.0 | 4.49 | 45.31 | 0.0 | 2.26 | 36.14 | 0.0 | 0.50 | 51.52 | 0.0 | 6.10 | -12.61 | 0.0 | 105.45 | 12.84 | 0.0 | 82.26 | 53.79 | 0.0 | 19.35 | -58.39 | 0.0 | 8.78 | -22.78 | 0.0 |
| 19Q2 (2) | 17.24 | 2.5 | 0.0 | 3.28 | -38.92 | 0.0 | 6.18 | -5.65 | 0.0 | 5.04 | -0.79 | 0.0 | 3.09 | -18.25 | 0.0 | 1.66 | -18.63 | 0.0 | 0.33 | -17.5 | 0.0 | 6.98 | -3.32 | 0.0 | 93.45 | 15.87 | 0.0 | 53.49 | -34.63 | 0.0 | 46.51 | 155.81 | 0.0 | 11.37 | 18.44 | 0.0 |
| 19Q1 (1) | 16.82 | 0.0 | 0.0 | 5.37 | 0.0 | 0.0 | 6.55 | 0.0 | 0.0 | 5.08 | 0.0 | 0.0 | 3.78 | 0.0 | 0.0 | 2.04 | 0.0 | 0.0 | 0.40 | 0.0 | 0.0 | 7.22 | 0.0 | 0.0 | 80.65 | 0.0 | 0.0 | 81.82 | 0.0 | 0.0 | 18.18 | 0.0 | 0.0 | 9.60 | 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) | 18.78 | 46.03 | 5.35 | 17.84 | 0.95 | -35.29 | 6.62 | 25.38 | 5.45 | 27.04 | 13.11 | -36.85 | 5.00 | -36.71 | 0.90 | -50.55 | 7.69 | 12.76 | 103.88 | -54.95 | 80.79 | -5.79 | 19.21 | 37.63 | 3.27 | 63.54 | 11.67 | 81.21 |
| 2022 (9) | 12.86 | -24.49 | 4.54 | -9.38 | 1.47 | -45.96 | 5.28 | -15.79 | 4.29 | -17.34 | 20.76 | 39.89 | 7.90 | 9.12 | 1.82 | 30.94 | 6.82 | -24.39 | 230.61 | 146.85 | 85.75 | 7.19 | 13.96 | -30.2 | 2.00 | -46.57 | 6.44 | -34.88 |
| 2021 (8) | 17.03 | 5.91 | 5.01 | 24.32 | 2.73 | 148.34 | 6.27 | 5.91 | 5.19 | 6.57 | 14.84 | 1.23 | 7.24 | 3.13 | 1.39 | -2.8 | 9.02 | 27.58 | 93.42 | -22.09 | 80.00 | 17.48 | 20.00 | -37.31 | 3.74 | 2.9 | 9.89 | 1.96 |
| 2020 (7) | 16.08 | -3.31 | 4.03 | -6.28 | 1.10 | 89.51 | 5.92 | 3.32 | 4.87 | 0.83 | 14.66 | -0.07 | 7.02 | -6.52 | 1.43 | -7.74 | 7.07 | 11.34 | 119.90 | 19.14 | 68.10 | -8.9 | 31.90 | 28.92 | 3.64 | -11.9 | 9.70 | -1.22 |
| 2019 (6) | 16.63 | -2.98 | 4.30 | -5.29 | 0.58 | 275.07 | 5.73 | 9.56 | 4.83 | 16.11 | 14.67 | 22.66 | 7.51 | 18.64 | 1.55 | 2.65 | 6.35 | 16.73 | 100.64 | 10.38 | 74.75 | -14.07 | 24.75 | 90.11 | 4.13 | -7.38 | 9.82 | -0.61 |
| 2018 (5) | 17.14 | -6.24 | 4.54 | 5.34 | 0.15 | 9.19 | 5.23 | -0.19 | 4.16 | -4.81 | 11.96 | 8.14 | 6.33 | 2.43 | 1.51 | 7.09 | 5.44 | -1.45 | 91.18 | 1.88 | 86.98 | 5.52 | 13.02 | -25.9 | 4.46 | 0 | 9.88 | -11.31 |
| 2017 (4) | 18.28 | -5.97 | 4.31 | -3.15 | 0.14 | -39.47 | 5.24 | 1.35 | 4.37 | -5.41 | 11.06 | 2.31 | 6.18 | 0.82 | 1.41 | 6.82 | 5.52 | -0.36 | 89.50 | 28.76 | 82.43 | -3.83 | 17.57 | 29.8 | 0.00 | 0 | 11.14 | 2084.31 |
| 2016 (3) | 19.44 | -6.85 | 4.45 | -5.12 | 0.23 | -5.42 | 5.17 | -14.97 | 4.62 | -12.67 | 10.81 | -7.84 | 6.13 | -10.51 | 1.32 | 2.33 | 5.54 | -13.84 | 69.51 | -18.96 | 85.71 | 10.53 | 13.53 | -41.49 | 0.00 | 0 | 0.51 | -17.74 |
| 2015 (2) | 20.87 | 2.4 | 4.69 | 1.08 | 0.25 | -2.89 | 6.08 | 14.07 | 5.29 | 17.82 | 11.73 | 19.33 | 6.85 | 11.38 | 1.29 | -5.84 | 6.43 | 13.01 | 85.77 | 49.32 | 77.55 | -10.35 | 23.13 | 82.14 | 0.00 | 0 | 0.62 | 21.57 |
| 2014 (1) | 20.38 | 0 | 4.64 | 0 | 0.25 | -17.78 | 5.33 | 0 | 4.49 | 0 | 9.83 | 0 | 6.15 | 0 | 1.37 | 17.09 | 5.69 | 1.07 | 57.44 | -9.76 | 86.51 | 10.91 | 12.70 | -44.79 | 0.00 | 0 | 0.51 | -13.56 |
