- 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) | 5.83 | 28.13 | 40.82 | 2.56 | 782.76 | 306.35 | 3.11 | 1195.83 | 357.35 | 2.91 | 1516.67 | 410.53 | 6.20 | 1489.74 | 373.28 | 2.14 | 872.73 | 355.32 | 0.70 | -4.11 | -4.11 | 3.68 | 384.21 | 240.74 | 185.17 | -16.48 | -15.39 | 82.35 | -41.18 | -12.16 | 17.65 | 188.24 | 182.35 | 2.55 | 15.91 | 20.28 |
| 23Q3 (19) | 4.55 | 27.09 | 7.31 | 0.29 | 111.65 | 81.25 | 0.24 | 109.49 | 580.0 | 0.18 | 108.04 | 550.0 | 0.39 | 109.07 | 490.0 | 0.22 | 115.38 | 2100.0 | 0.73 | 8.96 | -5.19 | 0.76 | 137.25 | 171.43 | 221.72 | 16.75 | 2.21 | 140.00 | 42.86 | 135.0 | -20.00 | -1100.0 | -104.0 | 2.20 | -11.29 | 15.18 |
| 23Q2 (18) | 3.58 | 6.87 | -18.45 | -2.49 | -378.85 | -427.63 | -2.53 | -1165.0 | -441.89 | -2.24 | -1300.0 | -479.66 | -4.30 | -1287.1 | -407.14 | -1.43 | -7050.0 | -375.0 | 0.67 | 3.08 | -17.28 | -2.04 | -780.0 | -292.45 | 189.91 | 3.68 | -10.92 | 98.00 | -64.36 | -7.16 | 2.00 | 101.33 | 0 | 2.48 | 10.22 | 12.22 |
| 23Q1 (17) | 3.35 | -19.08 | -17.08 | -0.52 | -182.54 | -244.44 | -0.20 | -129.41 | -155.56 | -0.16 | -128.07 | -159.26 | -0.31 | -123.66 | -151.67 | -0.02 | -104.26 | -108.0 | 0.65 | -10.96 | -23.53 | 0.30 | -72.22 | -56.52 | 183.17 | -16.31 | 8.42 | 275.00 | 193.33 | 175.0 | -150.00 | -2500.0 | 0 | 2.25 | 6.13 | 3.21 |
| 22Q4 (16) | 4.14 | -2.36 | 3.5 | 0.63 | 293.75 | 550.0 | 0.68 | 1460.0 | 13.33 | 0.57 | 1525.0 | 67.65 | 1.31 | 1410.0 | 52.33 | 0.47 | 4600.0 | 30.56 | 0.73 | -5.19 | -26.26 | 1.08 | 285.71 | 21.35 | 218.86 | 0.89 | 38.21 | 93.75 | 123.44 | 475.0 | 6.25 | -98.75 | -94.74 | 2.12 | 10.99 | -10.92 |
| 22Q3 (15) | 4.24 | -3.42 | -1.4 | 0.16 | -78.95 | -78.67 | -0.05 | -106.76 | -106.33 | -0.04 | -106.78 | -106.35 | -0.10 | -107.14 | -106.41 | 0.01 | -98.08 | -98.53 | 0.77 | -4.94 | -25.96 | 0.28 | -73.58 | -73.83 | 216.92 | 1.75 | 48.53 | -400.00 | -478.95 | -521.05 | 500.00 | 0 | 9900.0 | 1.91 | -13.57 | -2.05 |
| 22Q2 (14) | 4.39 | 8.66 | -8.54 | 0.76 | 111.11 | -9.52 | 0.74 | 105.56 | -19.57 | 0.59 | 118.52 | -23.38 | 1.40 | 133.33 | -19.54 | 0.52 | 108.0 | -31.58 | 0.81 | -4.71 | -16.49 | 1.06 | 53.62 | -11.67 | 213.19 | 26.19 | 68.62 | 105.56 | 5.56 | 16.67 | 0.00 | 0 | -100.0 | 2.21 | 1.38 | -47.26 |
| 22Q1 (13) | 4.04 | 1.0 | -10.22 | 0.36 | 357.14 | -20.0 | 0.36 | -40.0 | -50.68 | 0.27 | -20.59 | -53.45 | 0.60 | -30.23 | -50.82 | 0.25 | -30.56 | -51.92 | 0.85 | -14.14 | 1.19 | 0.69 | -22.47 | -34.91 | 168.95 | 6.69 | 22.12 | 100.00 | 500.0 | 66.67 | 0.00 | -100.0 | -100.0 | 2.18 | -8.4 | 603.23 |
| 21Q4 (12) | 4.00 | -6.98 | -19.52 | -0.14 | -118.67 | -122.58 | 0.60 | -24.05 | -41.75 | 0.34 | -46.03 | -69.09 | 0.86 | -44.87 | -64.46 | 0.36 | -47.06 | -61.7 | 0.99 | -4.81 | 20.73 | 0.89 | -16.82 | -32.06 | 158.35 | 8.43 | -3.21 | -25.00 | -126.32 | -142.31 | 118.75 | 2275.0 | 190.28 | 2.38 | 22.05 | -3.25 |
| 21Q3 (11) | 4.30 | -10.42 | 7.23 | 0.75 | -10.71 | 97.37 | 0.79 | -14.13 | 83.72 | 0.63 | -18.18 | 85.29 | 1.56 | -10.34 | 100.0 | 0.68 | -10.53 | 106.06 | 1.04 | 7.22 | 22.35 | 1.07 | -10.83 | 40.79 | 146.04 | 15.51 | -13.85 | 95.00 | 5.0 | 18.75 | 5.00 | -47.5 | -50.0 | 1.95 | -53.46 | -4.88 |
| 21Q2 (10) | 4.80 | 6.67 | 22.76 | 0.84 | 86.67 | 4100.0 | 0.92 | 26.03 | 9300.0 | 0.77 | 32.76 | 7800.0 | 1.74 | 42.62 | 5900.0 | 0.76 | 46.15 | 2433.33 | 0.97 | 15.48 | 19.75 | 1.20 | 13.21 | 313.79 | 126.43 | -8.62 | -29.25 | 90.48 | 50.79 | 0 | 9.52 | -76.19 | 0 | 4.19 | 1251.61 | 0 |
| 21Q1 (9) | 4.50 | -9.46 | 0.9 | 0.45 | -27.42 | -2.17 | 0.73 | -29.13 | 97.3 | 0.58 | -47.27 | 123.08 | 1.22 | -49.59 | 114.04 | 0.52 | -44.68 | 92.59 | 0.84 | 2.44 | -1.18 | 1.06 | -19.08 | 68.25 | 138.35 | -15.43 | -13.0 | 60.00 | 1.54 | -52.0 | 40.00 | -2.22 | 260.0 | 0.31 | -87.4 | -86.4 |
| 20Q4 (8) | 4.97 | 23.94 | 37.29 | 0.62 | 63.16 | 520.0 | 1.03 | 139.53 | 505.88 | 1.10 | 223.53 | 900.0 | 2.42 | 210.26 | 1000.0 | 0.94 | 184.85 | 571.43 | 0.82 | -3.53 | 15.49 | 1.31 | 72.37 | 162.0 | 163.60 | -3.49 | 5.79 | 59.09 | -26.14 | -11.36 | 40.91 | 309.09 | 22.73 | 2.46 | 20.0 | -75.1 |
| 20Q3 (7) | 4.01 | 2.56 | -0.74 | 0.38 | 1800.0 | 31.03 | 0.43 | 4400.0 | 65.38 | 0.34 | 3500.0 | 30.77 | 0.78 | 2700.0 | 36.84 | 0.33 | 1000.0 | 22.22 | 0.85 | 4.94 | 6.25 | 0.76 | 162.07 | 40.74 | 169.51 | -5.14 | -9.82 | 80.00 | 0 | -33.33 | 10.00 | 0 | 150.0 | 2.05 | 0 | 148.24 |
| 20Q2 (6) | 3.91 | -12.33 | -0.26 | 0.02 | -95.65 | 102.04 | -0.01 | -102.7 | 98.97 | -0.01 | -103.85 | 98.77 | -0.03 | -105.26 | 98.01 | 0.03 | -88.89 | 105.26 | 0.81 | -4.71 | 6.58 | 0.29 | -53.97 | 142.65 | 178.70 | 12.37 | 17.85 | 0.00 | -100.0 | -100.0 | 0.00 | 100.0 | 0 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 4.46 | 23.2 | 5.44 | 0.46 | 360.0 | 141.82 | 0.37 | 117.65 | 131.9 | 0.26 | 136.36 | 123.01 | 0.57 | 159.09 | 128.93 | 0.27 | 92.86 | 136.99 | 0.85 | 19.72 | 21.43 | 0.63 | 26.0 | 175.9 | 159.03 | 2.84 | 14.27 | 125.00 | 87.5 | 25.0 | -25.00 | -175.0 | -575.0 | 2.28 | -76.92 | -17.09 |
| 19Q4 (4) | 3.62 | -10.4 | 0.0 | 0.10 | -65.52 | 0.0 | 0.17 | -34.62 | 0.0 | 0.11 | -57.69 | 0.0 | 0.22 | -61.4 | 0.0 | 0.14 | -48.15 | 0.0 | 0.71 | -11.25 | 0.0 | 0.50 | -7.41 | 0.0 | 154.64 | -17.73 | 0.0 | 66.67 | -44.44 | 0.0 | 33.33 | 266.67 | 0.0 | 9.88 | 332.47 | 0.0 |
| 19Q3 (3) | 4.04 | 3.06 | 0.0 | 0.29 | 129.59 | 0.0 | 0.26 | 126.8 | 0.0 | 0.26 | 132.1 | 0.0 | 0.57 | 137.75 | 0.0 | 0.27 | 147.37 | 0.0 | 0.80 | 5.26 | 0.0 | 0.54 | 179.41 | 0.0 | 187.97 | 23.97 | 0.0 | 120.00 | 20.0 | 0.0 | -20.00 | 0 | 0.0 | -4.25 | -262.21 | 0.0 |
| 19Q2 (2) | 3.92 | -7.33 | 0.0 | -0.98 | 10.91 | 0.0 | -0.97 | 16.38 | 0.0 | -0.81 | 28.32 | 0.0 | -1.51 | 23.35 | 0.0 | -0.57 | 21.92 | 0.0 | 0.76 | 8.57 | 0.0 | -0.68 | 18.07 | 0.0 | 151.63 | 8.95 | 0.0 | 100.00 | 0.0 | 0.0 | -0.00 | -100.0 | 0.0 | 2.62 | -4.73 | 0.0 |
| 19Q1 (1) | 4.23 | 0.0 | 0.0 | -1.10 | 0.0 | 0.0 | -1.16 | 0.0 | 0.0 | -1.13 | 0.0 | 0.0 | -1.97 | 0.0 | 0.0 | -0.73 | 0.0 | 0.0 | 0.70 | 0.0 | 0.0 | -0.83 | 0.0 | 0.0 | 139.17 | 0.0 | 0.0 | 100.00 | 0.0 | 0.0 | 5.26 | 0.0 | 0.0 | 2.75 | 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) | 4.37 | 3.8 | 0.04 | -91.67 | 0.37 | 32.14 | 0.24 | -44.19 | 0.25 | -26.47 | 1.99 | -37.81 | 0.98 | -23.44 | 2.65 | -17.96 | 0.76 | -1.3 | 185.17 | -15.39 | 20.00 | -81.74 | 85.00 | 0 | 0.03 | 0 | 2.37 | 12.32 |
| 2022 (9) | 4.21 | -3.88 | 0.48 | 4.35 | 0.28 | 9.43 | 0.43 | -43.42 | 0.34 | -41.38 | 3.20 | -40.41 | 1.28 | -40.19 | 3.23 | -9.78 | 0.77 | -26.67 | 218.86 | 38.21 | 109.52 | 80.84 | -9.52 | 0 | 0.00 | 0 | 2.11 | -5.8 |
| 2021 (8) | 4.38 | 0.92 | 0.46 | 24.32 | 0.25 | 13.87 | 0.76 | 65.22 | 0.58 | 38.1 | 5.37 | 43.58 | 2.14 | 32.1 | 3.58 | 5.29 | 1.05 | 40.0 | 158.35 | -3.21 | 60.56 | -26.19 | 39.44 | 119.72 | 0.00 | 0 | 2.24 | 0.0 |
| 2020 (7) | 4.34 | 9.87 | 0.37 | 0 | 0.22 | 8.56 | 0.46 | 0 | 0.42 | 0 | 3.74 | 0 | 1.62 | 0 | 3.40 | 14.86 | 0.75 | 0 | 163.60 | 5.79 | 82.05 | -17.95 | 17.95 | 0 | 0.04 | -53.41 | 2.24 | -11.81 |
| 2019 (6) | 3.95 | 3.4 | -0.39 | 0 | 0.21 | 206.91 | -0.39 | 0 | -0.36 | 0 | -2.70 | 0 | -0.82 | 0 | 2.96 | -4.52 | -0.07 | 0 | 154.64 | -2.28 | 100.00 | 17.24 | -0.00 | 0 | 0.08 | 4.14 | 2.54 | 4.53 |
| 2018 (5) | 3.82 | -12.18 | -0.39 | 0 | 0.07 | -14.33 | -0.46 | 0 | -0.39 | 0 | -2.97 | 0 | -0.95 | 0 | 3.10 | 7.27 | -0.28 | 0 | 158.25 | 22.49 | 85.29 | 34.03 | 14.71 | -59.56 | 0.08 | 0 | 2.43 | 1925.0 |
| 2017 (4) | 4.35 | 2.35 | 0.11 | 0 | 0.08 | 3.16 | 0.17 | 88.89 | 0.14 | 100.0 | 0.92 | 104.44 | 0.59 | 55.26 | 2.89 | -6.47 | 0.33 | 37.5 | 129.19 | 14.31 | 63.64 | 0 | 36.36 | -63.64 | 0.00 | 0 | 0.12 | 0.0 |
| 2016 (3) | 4.25 | 14.25 | 0.00 | 0 | 0.08 | 10.68 | 0.09 | 125.0 | 0.07 | 0 | 0.45 | 0 | 0.38 | 123.53 | 3.09 | -4.33 | 0.24 | 4.35 | 113.02 | -3.23 | 0.00 | 0 | 100.00 | -92.68 | 0.00 | 0 | 0.12 | 9.09 |
| 2015 (2) | 3.72 | 7.2 | -0.52 | 0 | 0.07 | -8.21 | 0.04 | 0 | -0.04 | 0 | -0.28 | 0 | 0.17 | 0 | 3.23 | 0.31 | 0.23 | 0 | 116.79 | -14.97 | -1266.67 | 0 | 1366.67 | 0 | 0.00 | 0 | 0.11 | 0.0 |
| 2014 (1) | 3.47 | 0 | -0.42 | 0 | 0.07 | -27.87 | -0.29 | 0 | -0.27 | 0 | -2.12 | 0 | -0.61 | 0 | 3.22 | 1.58 | -0.11 | 0 | 137.35 | -9.22 | 147.83 | 163.98 | -47.83 | 0 | 0.00 | 0 | 0.11 | 0.0 |
