- 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) | 17.14 | 1.42 | 6.72 | 1.15 | -39.47 | 2975.0 | 1.40 | -34.88 | -26.32 | 1.10 | -36.78 | -30.82 | 0.75 | -46.04 | -31.19 | 0.51 | -43.33 | -29.17 | 0.43 | -14.0 | 0.0 | 4.97 | -4.79 | -8.64 | 55.72 | -3.03 | -0.14 | 83.33 | -3.51 | 0 | 16.67 | 83.33 | -83.33 | 9.21 | 7.85 | 0.55 |
| 23Q3 (19) | 16.90 | 8.26 | 7.17 | 1.90 | 206.45 | 9.2 | 2.15 | -16.67 | 20.79 | 1.74 | -25.32 | 21.68 | 1.39 | -15.76 | 18.8 | 0.90 | -16.67 | 25.0 | 0.50 | 11.11 | 2.04 | 5.22 | -13.86 | 8.75 | 57.46 | -8.76 | -6.81 | 86.36 | 231.06 | -8.84 | 9.09 | -88.38 | 0 | 8.54 | 5.17 | 8.65 |
| 23Q2 (18) | 15.61 | -1.39 | -1.01 | 0.62 | -47.9 | -83.47 | 2.58 | 92.54 | -32.28 | 2.33 | 117.76 | -21.02 | 1.65 | 114.29 | -42.91 | 1.08 | 103.77 | -37.93 | 0.45 | -4.26 | -22.41 | 6.06 | 28.94 | -2.73 | 62.98 | 23.15 | -16.58 | 26.09 | -69.17 | -73.91 | 78.26 | 917.39 | 3656.52 | 8.12 | -8.04 | 21.56 |
| 23Q1 (17) | 15.83 | -1.43 | 7.54 | 1.19 | 3075.0 | -50.21 | 1.34 | -29.47 | -44.4 | 1.07 | -32.7 | -44.56 | 0.77 | -29.36 | -55.75 | 0.53 | -26.39 | -51.38 | 0.47 | 9.3 | -14.55 | 4.70 | -13.6 | -7.11 | 51.14 | -8.35 | -19.3 | 84.62 | 0 | -12.36 | 7.69 | -92.31 | 0 | 8.83 | -3.6 | 26.69 |
| 22Q4 (16) | 16.06 | 1.84 | 7.64 | -0.04 | -102.3 | -101.48 | 1.90 | 6.74 | -32.14 | 1.59 | 11.19 | -29.02 | 1.09 | -6.84 | -48.1 | 0.72 | 0.0 | -43.31 | 0.43 | -12.24 | -21.82 | 5.44 | 13.33 | 0.93 | 55.80 | -9.5 | -13.73 | 0.00 | -100.0 | -100.0 | 100.00 | 0 | 3300.0 | 9.16 | 16.54 | 35.3 |
| 22Q3 (15) | 15.77 | 0.0 | 5.27 | 1.74 | -53.6 | -54.33 | 1.78 | -53.28 | -52.28 | 1.43 | -51.53 | -52.17 | 1.17 | -59.52 | -65.38 | 0.72 | -58.62 | -62.5 | 0.49 | -15.52 | -22.22 | 4.80 | -22.95 | -19.19 | 61.66 | -18.33 | -17.08 | 94.74 | -5.26 | -7.02 | 0.00 | -100.0 | 100.0 | 7.86 | 17.66 | 31.22 |
| 22Q2 (14) | 15.77 | 7.13 | 1.09 | 3.75 | 56.9 | -23.78 | 3.81 | 58.09 | -23.34 | 2.95 | 52.85 | -25.69 | 2.89 | 66.09 | -39.67 | 1.74 | 59.63 | -37.63 | 0.58 | 5.45 | -15.94 | 6.23 | 23.12 | -11.76 | 75.50 | 19.14 | -9.99 | 100.00 | 3.57 | 0.0 | 2.08 | 0 | 52.08 | 6.68 | -4.16 | 14.19 |
| 22Q1 (13) | 14.72 | -1.34 | -0.27 | 2.39 | -11.81 | 43.98 | 2.41 | -13.93 | 52.53 | 1.93 | -13.84 | 53.17 | 1.74 | -17.14 | 61.11 | 1.09 | -14.17 | 55.71 | 0.55 | 0.0 | 5.77 | 5.06 | -6.12 | 9.05 | 63.37 | -2.03 | -0.28 | 96.55 | -0.52 | -9.13 | 0.00 | -100.0 | 100.0 | 6.97 | 2.95 | -7.44 |
| 21Q4 (12) | 14.92 | -0.4 | -5.69 | 2.71 | -28.87 | 115.08 | 2.80 | -24.93 | 135.29 | 2.24 | -25.08 | 135.79 | 2.10 | -37.87 | 180.0 | 1.27 | -33.85 | 154.0 | 0.55 | -12.7 | 14.58 | 5.39 | -9.26 | 18.46 | 64.68 | -13.02 | 1.99 | 97.06 | -4.74 | -11.03 | 2.94 | 255.88 | 132.35 | 6.77 | 13.02 | -18.92 |
| 21Q3 (11) | 14.98 | -3.97 | 0.13 | 3.81 | -22.56 | 82.3 | 3.73 | -24.95 | 87.44 | 2.99 | -24.69 | 88.05 | 3.38 | -29.44 | 122.37 | 1.92 | -31.18 | 104.26 | 0.63 | -8.7 | 10.53 | 5.94 | -15.86 | 24.79 | 74.36 | -11.35 | 14.17 | 101.89 | 1.89 | -2.36 | -1.89 | -237.74 | 56.6 | 5.99 | 2.39 | -17.27 |
| 21Q2 (10) | 15.60 | 5.69 | 6.48 | 4.92 | 196.39 | 969.57 | 4.97 | 214.56 | 1243.24 | 3.97 | 215.08 | 1223.33 | 4.79 | 343.52 | 1895.83 | 2.79 | 298.57 | 1368.42 | 0.69 | 32.69 | 43.75 | 7.06 | 52.16 | 95.03 | 83.88 | 31.99 | 14.2 | 100.00 | -5.88 | 0.0 | 1.37 | 121.92 | 105.48 | 5.85 | -22.31 | 0 |
| 21Q1 (9) | 14.76 | -6.7 | -1.67 | 1.66 | 31.75 | -11.7 | 1.58 | 32.77 | -11.73 | 1.26 | 32.63 | -11.89 | 1.08 | 44.0 | -12.2 | 0.70 | 40.0 | -13.58 | 0.52 | 8.33 | -1.89 | 4.64 | 1.98 | -3.33 | 63.55 | 0.2 | 3.81 | 106.25 | -2.6 | 0.94 | -6.25 | 31.25 | -18.75 | 7.53 | -9.82 | -0.79 |
| 20Q4 (8) | 15.82 | 5.75 | 1.41 | 1.26 | -39.71 | 137.74 | 1.19 | -40.2 | 164.44 | 0.95 | -40.25 | 171.43 | 0.75 | -50.66 | 200.0 | 0.50 | -46.81 | 163.16 | 0.48 | -15.79 | 14.29 | 4.55 | -4.41 | 11.79 | 63.42 | -2.63 | 3.36 | 109.09 | 4.55 | -12.73 | -9.09 | -109.09 | 63.64 | 8.35 | 15.33 | -4.46 |
| 20Q3 (7) | 14.96 | 2.12 | 1.49 | 2.09 | 354.35 | 67.2 | 1.99 | 437.84 | 68.64 | 1.59 | 430.0 | 69.15 | 1.52 | 533.33 | 78.82 | 0.94 | 394.74 | 77.36 | 0.57 | 18.75 | 11.76 | 4.76 | 31.49 | 14.98 | 65.13 | -11.33 | -14.67 | 104.35 | 4.35 | -3.11 | -4.35 | 82.61 | 43.48 | 7.24 | 0 | -1.5 |
| 20Q2 (6) | 14.65 | -2.4 | -4.5 | 0.46 | -75.53 | 283.33 | 0.37 | -79.33 | 270.0 | 0.30 | -79.02 | 275.0 | 0.24 | -80.49 | 380.0 | 0.19 | -76.54 | 137.5 | 0.48 | -9.43 | 14.29 | 3.62 | -24.58 | -3.47 | 73.45 | 19.98 | -4.14 | 100.00 | -5.0 | 0.0 | -25.00 | -375.0 | 0 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 15.01 | -3.78 | -3.22 | 1.88 | 254.72 | -16.07 | 1.79 | 297.78 | -16.74 | 1.43 | 308.57 | -16.86 | 1.23 | 392.0 | -12.14 | 0.81 | 326.32 | -17.35 | 0.53 | 26.19 | -1.85 | 4.80 | 17.94 | -8.4 | 61.22 | -0.23 | -5.1 | 105.26 | -15.79 | 0.69 | -5.26 | 78.95 | -15.79 | 7.59 | -13.16 | 0.13 |
| 19Q4 (4) | 15.60 | 5.83 | 0.0 | 0.53 | -57.6 | 0.0 | 0.45 | -61.86 | 0.0 | 0.35 | -62.77 | 0.0 | 0.25 | -70.59 | 0.0 | 0.19 | -64.15 | 0.0 | 0.42 | -17.65 | 0.0 | 4.07 | -1.69 | 0.0 | 61.36 | -19.61 | 0.0 | 125.00 | 16.07 | 0.0 | -25.00 | -225.0 | 0.0 | 8.74 | 18.91 | 0.0 |
| 19Q3 (3) | 14.74 | -3.91 | 0.0 | 1.25 | 941.67 | 0.0 | 1.18 | 1080.0 | 0.0 | 0.94 | 1075.0 | 0.0 | 0.85 | 1600.0 | 0.0 | 0.53 | 562.5 | 0.0 | 0.51 | 21.43 | 0.0 | 4.14 | 10.4 | 0.0 | 76.33 | -0.38 | 0.0 | 107.69 | 7.69 | 0.0 | -7.69 | 0 | 0.0 | 7.35 | -12.71 | 0.0 |
| 19Q2 (2) | 15.34 | -1.1 | 0.0 | 0.12 | -94.64 | 0.0 | 0.10 | -95.35 | 0.0 | 0.08 | -95.35 | 0.0 | 0.05 | -96.43 | 0.0 | 0.08 | -91.84 | 0.0 | 0.42 | -22.22 | 0.0 | 3.75 | -28.44 | 0.0 | 76.62 | 18.77 | 0.0 | 100.00 | -4.35 | 0.0 | -0.00 | 100.0 | 0.0 | 8.42 | 11.08 | 0.0 |
| 19Q1 (1) | 15.51 | 0.0 | 0.0 | 2.24 | 0.0 | 0.0 | 2.15 | 0.0 | 0.0 | 1.72 | 0.0 | 0.0 | 1.40 | 0.0 | 0.0 | 0.98 | 0.0 | 0.0 | 0.54 | 0.0 | 0.0 | 5.24 | 0.0 | 0.0 | 64.51 | 0.0 | 0.0 | 104.55 | 0.0 | 0.0 | -4.55 | 0.0 | 0.0 | 7.58 | 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) | 16.37 | 5.34 | 1.24 | -42.06 | 3.25 | 17.49 | 1.88 | -26.56 | 1.57 | -23.04 | 4.53 | -34.06 | 3.04 | -30.91 | 1.86 | -11.43 | 5.21 | -3.7 | 55.72 | -0.14 | 65.71 | -21.7 | 34.29 | 102.11 | 0.00 | 0 | 8.67 | 14.99 |
| 2022 (9) | 15.54 | 2.91 | 2.14 | -37.79 | 2.76 | 17.1 | 2.56 | -25.36 | 2.04 | -25.82 | 6.87 | -38.99 | 4.40 | -37.14 | 2.10 | -16.0 | 5.41 | -7.84 | 55.80 | -13.73 | 83.93 | -16.07 | 16.96 | 0 | 0.00 | 0 | 7.54 | 17.08 |
| 2021 (8) | 15.10 | 0.0 | 3.44 | 135.62 | 2.36 | -20.2 | 3.43 | 150.36 | 2.75 | 150.0 | 11.26 | 202.69 | 7.00 | 183.4 | 2.50 | 19.62 | 5.87 | 32.81 | 64.68 | 1.99 | 100.00 | -6.67 | 0.00 | 0 | 0.00 | 0 | 6.44 | -17.44 |
| 2020 (7) | 15.10 | -1.11 | 1.46 | 32.73 | 2.96 | -7.3 | 1.37 | 33.01 | 1.10 | 34.15 | 3.72 | 44.75 | 2.47 | 27.32 | 2.09 | -0.95 | 4.42 | 1.38 | 63.42 | 3.36 | 107.14 | 2.04 | -7.14 | 0 | 0.00 | 0 | 7.80 | -2.01 |
| 2019 (6) | 15.27 | 2.55 | 1.10 | -28.57 | 3.19 | 521.71 | 1.03 | -39.41 | 0.82 | -42.25 | 2.57 | -44.01 | 1.94 | -42.09 | 2.11 | -10.21 | 4.36 | 96.4 | 61.36 | 70.3 | 105.00 | 16.67 | -7.50 | 0 | 0.00 | 0 | 7.96 | 11.02 |
| 2018 (5) | 14.89 | -1.06 | 1.54 | -35.29 | 0.51 | -12.6 | 1.70 | -30.04 | 1.42 | -29.35 | 4.59 | -34.15 | 3.35 | -30.93 | 2.35 | -2.49 | 2.22 | -26.73 | 36.03 | -6.0 | 90.00 | -7.43 | 8.57 | 362.86 | 0.00 | 0 | 7.17 | 7.98 |
| 2017 (4) | 15.05 | 2.73 | 2.38 | 12.26 | 0.59 | -9.29 | 2.43 | 2.53 | 2.01 | 1.01 | 6.97 | -6.94 | 4.85 | -6.19 | 2.41 | -7.31 | 3.03 | 0.0 | 38.33 | -21.73 | 97.22 | 7.71 | 1.85 | -82.56 | 0.00 | 0 | 6.64 | 1.53 |
| 2016 (3) | 14.65 | 1.88 | 2.12 | 9.28 | 0.65 | -6.95 | 2.37 | 19.7 | 1.99 | 21.34 | 7.49 | 12.97 | 5.17 | 12.15 | 2.60 | -7.47 | 3.03 | 13.48 | 48.97 | 20.53 | 90.27 | -8.84 | 10.62 | 441.59 | 0.00 | 0 | 6.54 | 0.62 |
| 2015 (2) | 14.38 | -2.24 | 1.94 | -24.51 | 0.70 | -2.95 | 1.98 | -28.26 | 1.64 | -28.38 | 6.63 | -31.01 | 4.61 | -29.19 | 2.81 | -1.4 | 2.67 | -23.05 | 40.63 | -13.7 | 99.02 | 6.09 | 1.96 | -70.59 | 0.00 | 0 | 6.50 | 5.52 |
| 2014 (1) | 14.71 | 0 | 2.57 | 0 | 0.72 | 5.49 | 2.76 | 0 | 2.29 | 0 | 9.61 | 0 | 6.51 | 0 | 2.85 | -4.04 | 3.47 | -5.19 | 47.08 | -2.71 | 93.33 | -5.56 | 6.67 | 1040.0 | 0.00 | 0 | 6.16 | 3.36 |
