- 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) | 12.52 | -24.3 | 9.15 | -0.58 | -109.42 | 6.45 | 0.58 | -89.14 | 176.19 | 0.64 | -83.25 | 156.0 | 1.20 | -61.29 | 185.71 | 0.73 | -52.29 | 128.12 | 0.84 | 127.03 | 2.44 | 2.12 | -66.67 | 25.44 | 126.18 | 4.21 | 25.23 | -101.89 | -188.18 | 66.04 | 201.89 | 1398.81 | -49.53 | 5.13 | -22.51 | -3.93 |
| 23Q3 (19) | 16.54 | 14.23 | 12.44 | 6.16 | 54.77 | 35.98 | 5.34 | -7.29 | -2.91 | 3.82 | -16.78 | -16.04 | 3.10 | -18.85 | -9.09 | 1.53 | -18.62 | -12.07 | 0.37 | -2.63 | 0.0 | 6.36 | -6.47 | -1.24 | 121.08 | 5.46 | 14.57 | 115.54 | 67.62 | 40.08 | -15.54 | -150.83 | -188.75 | 6.62 | -10.3 | -14.8 |
| 23Q2 (18) | 14.48 | -3.47 | 3.8 | 3.98 | -22.11 | -9.75 | 5.76 | -23.61 | 34.89 | 4.59 | -27.94 | 39.09 | 3.82 | -13.18 | 61.18 | 1.88 | -14.55 | 51.61 | 0.38 | 15.15 | 5.56 | 6.80 | -20.56 | 29.52 | 114.81 | -3.83 | 14.88 | 68.93 | 1.42 | -33.13 | 30.58 | -4.52 | 1093.93 | 7.38 | -2.89 | 3.51 |
| 23Q1 (17) | 15.00 | 30.78 | 10.46 | 5.11 | 924.19 | 52.54 | 7.54 | 3490.48 | 102.69 | 6.37 | 2448.0 | 110.93 | 4.40 | 947.62 | 125.64 | 2.20 | 587.5 | 105.61 | 0.33 | -59.76 | 0.0 | 8.56 | 406.51 | 80.21 | 119.38 | 18.48 | 20.85 | 67.97 | 122.66 | -24.08 | 32.03 | -91.99 | 236.33 | 7.60 | 42.32 | -2.56 |
| 22Q4 (16) | 11.47 | -22.03 | -18.48 | -0.62 | -113.69 | -114.32 | 0.21 | -96.18 | -96.31 | 0.25 | -94.51 | -94.75 | 0.42 | -87.68 | -87.31 | 0.32 | -81.61 | -81.61 | 0.82 | 121.62 | 127.78 | 1.69 | -73.76 | -74.51 | 100.76 | -4.66 | 14.58 | -300.00 | -463.7 | -494.03 | 400.00 | 2183.87 | 1576.19 | 5.34 | -31.27 | -23.05 |
| 22Q3 (15) | 14.71 | 5.45 | 13.94 | 4.53 | 2.72 | 2.26 | 5.50 | 28.81 | 1.29 | 4.55 | 37.88 | 3.17 | 3.41 | 43.88 | 4.92 | 1.74 | 40.32 | 5.45 | 0.37 | 2.78 | 2.78 | 6.44 | 22.67 | 2.38 | 105.68 | 5.74 | 2.47 | 82.49 | -19.98 | 1.34 | 17.51 | 669.21 | -5.86 | 7.77 | 8.98 | 21.79 |
| 22Q2 (14) | 13.95 | 2.72 | 9.15 | 4.41 | 31.64 | 14.55 | 4.27 | 14.78 | 9.49 | 3.30 | 9.27 | -0.3 | 2.37 | 21.54 | 9.22 | 1.24 | 15.89 | 9.73 | 0.36 | 9.09 | 9.09 | 5.25 | 10.53 | 8.47 | 99.94 | 1.17 | -2.18 | 103.08 | 15.14 | 4.05 | -3.08 | -132.31 | -429.23 | 7.13 | -8.59 | 2.74 |
| 22Q1 (13) | 13.58 | -3.48 | 8.73 | 3.35 | -22.63 | -13.44 | 3.72 | -34.62 | -56.99 | 3.02 | -36.55 | -60.26 | 1.95 | -41.09 | -62.36 | 1.07 | -38.51 | -61.51 | 0.33 | -8.33 | -8.33 | 4.75 | -28.36 | -50.11 | 98.78 | 12.33 | 5.33 | 89.52 | 17.58 | 99.89 | 9.52 | -60.09 | -82.75 | 7.80 | 12.39 | 10.33 |
| 21Q4 (12) | 14.07 | 8.99 | 13.29 | 4.33 | -2.26 | -7.08 | 5.69 | 4.79 | -5.48 | 4.76 | 7.94 | 1.49 | 3.31 | 1.85 | 1.85 | 1.74 | 5.45 | -3.33 | 0.36 | 0.0 | -2.7 | 6.63 | 5.41 | -3.49 | 87.94 | -14.73 | 3.43 | 76.14 | -6.46 | -1.74 | 23.86 | 28.27 | 6.0 | 6.94 | 8.78 | 33.46 |
| 21Q3 (11) | 12.91 | 1.02 | 9.97 | 4.43 | 15.06 | -6.74 | 5.43 | 39.23 | 4.62 | 4.41 | 33.23 | 7.3 | 3.25 | 49.77 | -2.69 | 1.65 | 46.02 | -7.3 | 0.36 | 9.09 | -14.29 | 6.29 | 29.96 | 6.07 | 103.13 | 0.94 | 19.68 | 81.40 | -17.84 | -10.99 | 18.60 | 1890.7 | 117.44 | 6.38 | -8.07 | 33.19 |
| 21Q2 (10) | 12.78 | 2.32 | 8.86 | 3.85 | -0.52 | -25.68 | 3.90 | -54.91 | -27.37 | 3.31 | -56.45 | -22.84 | 2.17 | -58.11 | -40.38 | 1.13 | -59.35 | -44.33 | 0.33 | -8.33 | -29.79 | 4.84 | -49.16 | -17.97 | 102.17 | 8.95 | 11.58 | 99.07 | 121.19 | 3.07 | 0.93 | -98.31 | -72.5 | 6.94 | -1.84 | 48.29 |
| 21Q1 (9) | 12.49 | 0.56 | 0.97 | 3.87 | -16.95 | -11.64 | 8.65 | 43.69 | 79.46 | 7.60 | 62.05 | 96.89 | 5.18 | 59.38 | 94.01 | 2.78 | 54.44 | 77.07 | 0.36 | -2.7 | -10.0 | 9.52 | 38.57 | 75.97 | 93.78 | 10.3 | 27.91 | 44.79 | -42.2 | -50.45 | 55.21 | 145.25 | 515.22 | 7.07 | 35.96 | 41.4 |
| 20Q4 (8) | 12.42 | 5.79 | 19.88 | 4.66 | -1.89 | 11.48 | 6.02 | 15.99 | 38.39 | 4.69 | 14.11 | 39.17 | 3.25 | -2.69 | 47.06 | 1.80 | 1.12 | 38.46 | 0.37 | -11.9 | -2.63 | 6.87 | 15.85 | 39.35 | 85.02 | -1.33 | 19.92 | 77.49 | -15.26 | -19.41 | 22.51 | 163.12 | 485.34 | 5.20 | 8.56 | 10.17 |
| 20Q3 (7) | 11.74 | 0.0 | 12.02 | 4.75 | -8.3 | 17.28 | 5.19 | -3.35 | 10.19 | 4.11 | -4.2 | 9.31 | 3.34 | -8.24 | -1.76 | 1.78 | -12.32 | 10.56 | 0.42 | -10.64 | 0.0 | 5.93 | 0.51 | 10.84 | 86.17 | -5.9 | 18.45 | 91.44 | -4.86 | 6.33 | 8.56 | 151.8 | -38.88 | 4.79 | 2.35 | 12.71 |
| 20Q2 (6) | 11.74 | -5.09 | 12.88 | 5.18 | 18.26 | 36.68 | 5.37 | 11.41 | 27.86 | 4.29 | 11.14 | 22.57 | 3.64 | 36.33 | -16.32 | 2.03 | 29.3 | 26.09 | 0.47 | 17.5 | 6.82 | 5.90 | 9.06 | 22.66 | 91.57 | 24.89 | -52.57 | 96.12 | 6.34 | 7.33 | 3.40 | -62.14 | -64.97 | 4.68 | -6.4 | 8.08 |
| 20Q1 (5) | 12.37 | 19.4 | 32.16 | 4.38 | 4.78 | 39.05 | 4.82 | 10.8 | 36.93 | 3.86 | 14.54 | 36.88 | 2.67 | 20.81 | -18.35 | 1.57 | 20.77 | 21.71 | 0.40 | 5.26 | -9.09 | 5.41 | 9.74 | 30.36 | 73.32 | 3.41 | -55.61 | 90.38 | -6.0 | 1.08 | 8.97 | 133.33 | -15.15 | 5.00 | 5.93 | 16.55 |
| 19Q4 (4) | 10.36 | -1.15 | 0.0 | 4.18 | 3.21 | 0.0 | 4.35 | -7.64 | 0.0 | 3.37 | -10.37 | 0.0 | 2.21 | -35.0 | 0.0 | 1.30 | -19.25 | 0.0 | 0.38 | -9.52 | 0.0 | 4.93 | -7.85 | 0.0 | 70.90 | -2.54 | 0.0 | 96.15 | 11.81 | 0.0 | 3.85 | -72.53 | 0.0 | 4.72 | 11.06 | 0.0 |
| 19Q3 (3) | 10.48 | 0.77 | 0.0 | 4.05 | 6.86 | 0.0 | 4.71 | 12.14 | 0.0 | 3.76 | 7.43 | 0.0 | 3.40 | -21.84 | 0.0 | 1.61 | 0.0 | 0.0 | 0.42 | -4.55 | 0.0 | 5.35 | 11.23 | 0.0 | 72.75 | -62.32 | 0.0 | 86.00 | -3.97 | 0.0 | 14.00 | 44.31 | 0.0 | 4.25 | -1.85 | 0.0 |
| 19Q2 (2) | 10.40 | 11.11 | 0.0 | 3.79 | 20.32 | 0.0 | 4.20 | 19.32 | 0.0 | 3.50 | 24.11 | 0.0 | 4.35 | 33.03 | 0.0 | 1.61 | 24.81 | 0.0 | 0.44 | 0.0 | 0.0 | 4.81 | 15.9 | 0.0 | 193.08 | 16.9 | 0.0 | 89.55 | 0.14 | 0.0 | 9.70 | -8.28 | 0.0 | 4.33 | 0.93 | 0.0 |
| 19Q1 (1) | 9.36 | 0.0 | 0.0 | 3.15 | 0.0 | 0.0 | 3.52 | 0.0 | 0.0 | 2.82 | 0.0 | 0.0 | 3.27 | 0.0 | 0.0 | 1.29 | 0.0 | 0.0 | 0.44 | 0.0 | 0.0 | 4.15 | 0.0 | 0.0 | 165.17 | 0.0 | 0.0 | 89.42 | 0.0 | 0.0 | 10.58 | 0.0 | 0.0 | 4.29 | 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) | 14.03 | 9.18 | 2.45 | 31.72 | 0.55 | 12.04 | 3.57 | 43.95 | 2.92 | 43.84 | 10.59 | 52.59 | 5.43 | 42.15 | 1.70 | -2.86 | 4.85 | 31.08 | 126.18 | 25.23 | 68.50 | -9.23 | 31.50 | 27.18 | 6.38 | -14.82 | 6.23 | -4.3 |
| 2022 (9) | 12.85 | -1.76 | 1.86 | -54.96 | 0.49 | -25.41 | 2.48 | -58.32 | 2.03 | -59.72 | 6.94 | -47.42 | 3.82 | -47.31 | 1.75 | 25.0 | 3.70 | -45.99 | 100.76 | 14.58 | 75.47 | 8.64 | 24.77 | -18.88 | 7.49 | 232.63 | 6.51 | -4.55 |
| 2021 (8) | 13.08 | 8.28 | 4.13 | -12.13 | 0.66 | 17.49 | 5.95 | 18.29 | 5.04 | 27.59 | 13.20 | 8.02 | 7.25 | 2.4 | 1.40 | -19.54 | 6.85 | 18.31 | 87.94 | 3.43 | 69.47 | -25.67 | 30.53 | 366.43 | 2.25 | 64.8 | 6.82 | 38.34 |
| 2020 (7) | 12.08 | 18.9 | 4.70 | 23.68 | 0.56 | 18.88 | 5.03 | 19.76 | 3.95 | 17.21 | 12.22 | 4.89 | 7.08 | 19.8 | 1.74 | 1.75 | 5.79 | 19.88 | 85.02 | 19.92 | 93.45 | 3.46 | 6.55 | -32.31 | 1.37 | 0 | 4.93 | 12.3 |
| 2019 (6) | 10.16 | 3.89 | 3.80 | -0.52 | 0.47 | 102.78 | 4.20 | 5.53 | 3.37 | 8.71 | 11.65 | -20.21 | 5.91 | 1.9 | 1.71 | -5.52 | 4.83 | 10.02 | 70.90 | -55.9 | 90.33 | -5.86 | 9.67 | 139.09 | 0.00 | 0 | 4.39 | 9.48 |
| 2018 (5) | 9.78 | 8.19 | 3.82 | 11.05 | 0.23 | 27.48 | 3.98 | 15.03 | 3.10 | 8.01 | 14.60 | 4.43 | 5.80 | 4.13 | 1.81 | -2.69 | 4.39 | 14.62 | 160.77 | 0.47 | 95.96 | -3.51 | 4.04 | 630.11 | 0.00 | 0 | 4.01 | 4.97 |
| 2017 (4) | 9.04 | 3.43 | 3.44 | 13.53 | 0.18 | -16.89 | 3.46 | 5.49 | 2.87 | 4.74 | 13.98 | 11.75 | 5.57 | 7.74 | 1.86 | 4.49 | 3.83 | 1.32 | 160.01 | -1.53 | 99.45 | 7.73 | 0.55 | -92.8 | 0.00 | 0 | 3.82 | -6.6 |
| 2016 (3) | 8.74 | 1.51 | 3.03 | 1.34 | 0.22 | -6.66 | 3.28 | -1.8 | 2.74 | 0.0 | 12.51 | 2.21 | 5.17 | 5.3 | 1.78 | 4.71 | 3.78 | -1.82 | 162.50 | 8.76 | 92.31 | 3.21 | 7.69 | -27.18 | 0.00 | 0 | 4.09 | 1.24 |
| 2015 (2) | 8.61 | 4.24 | 2.99 | -1.32 | 0.23 | 9.86 | 3.34 | -0.89 | 2.74 | -1.44 | 12.24 | -4.38 | 4.91 | -2.39 | 1.70 | -0.58 | 3.85 | 0.26 | 149.41 | -16.37 | 89.44 | -0.74 | 10.56 | 6.77 | 0.00 | 0 | 4.04 | 8.89 |
| 2014 (1) | 8.26 | 0 | 3.03 | 0 | 0.21 | 7.18 | 3.37 | 0 | 2.78 | 0 | 12.80 | 0 | 5.03 | 0 | 1.71 | 0.0 | 3.84 | 1.32 | 178.65 | 11.74 | 90.11 | -4.62 | 9.89 | 78.8 | 0.00 | 0 | 3.71 | -5.6 |
