- 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) | 20.90 | 0.63 | -1.09 | 13.82 | 5.66 | -11.81 | 5.79 | -75.69 | -57.05 | 3.48 | -79.19 | -53.6 | 1.18 | -79.41 | -65.4 | 0.78 | -74.68 | -55.43 | 0.19 | 11.76 | -13.64 | 8.44 | -68.35 | -44.25 | 77.50 | -11.12 | -17.11 | 238.93 | 335.05 | 105.55 | -138.78 | -407.86 | -754.65 | 11.95 | -9.26 | 7.17 |
| 23Q3 (19) | 20.77 | 0.48 | -2.85 | 13.08 | -5.83 | -18.61 | 23.82 | -9.5 | -18.23 | 16.72 | -11.44 | 63.6 | 5.73 | -14.35 | 0.35 | 3.08 | -16.08 | 14.5 | 0.17 | -5.56 | -34.62 | 26.67 | -8.51 | -12.27 | 87.20 | -17.95 | -26.36 | 54.92 | 4.05 | -0.43 | 45.08 | -4.59 | 0.53 | 13.17 | 2.17 | 19.95 |
| 23Q2 (18) | 20.67 | 16.71 | 15.15 | 13.89 | 30.67 | 35.91 | 26.32 | 132.71 | 4.4 | 18.88 | 137.19 | 25.12 | 6.69 | 212.62 | 30.41 | 3.67 | 188.98 | 51.65 | 0.18 | 28.57 | 12.5 | 29.15 | 103.28 | 7.84 | 106.28 | 35.8 | -9.99 | 52.78 | -43.84 | 30.22 | 47.25 | 685.25 | -20.54 | 12.89 | -9.48 | -14.75 |
| 23Q1 (17) | 17.71 | -16.19 | -2.8 | 10.63 | -32.16 | -15.57 | 11.31 | -16.1 | -37.06 | 7.96 | 6.13 | -44.88 | 2.14 | -37.24 | -66.82 | 1.27 | -27.43 | -57.95 | 0.14 | -36.36 | -33.33 | 14.34 | -5.28 | -25.93 | 78.26 | -16.3 | -30.76 | 93.98 | -19.15 | 34.12 | 6.02 | 137.06 | -79.92 | 14.24 | 27.71 | 15.4 |
| 22Q4 (16) | 21.13 | -1.17 | 9.6 | 15.67 | -2.49 | 12.01 | 13.48 | -53.72 | 9.77 | 7.50 | -26.61 | 17.55 | 3.41 | -40.28 | 6.9 | 1.75 | -34.94 | 15.89 | 0.22 | -15.38 | -4.35 | 15.14 | -50.2 | 12.23 | 93.50 | -21.04 | -21.55 | 116.24 | 110.73 | 2.02 | -16.24 | -136.21 | -16.5 | 11.15 | 1.55 | -2.45 |
| 22Q3 (15) | 21.38 | 19.11 | 15.13 | 16.07 | 57.24 | 24.48 | 29.13 | 15.55 | 100.76 | 10.22 | -32.27 | -7.68 | 5.71 | 11.31 | 8.14 | 2.69 | 11.16 | 5.49 | 0.26 | 62.5 | 13.04 | 30.40 | 12.47 | 91.07 | 118.42 | 0.3 | 5.68 | 55.16 | 36.09 | -38.04 | 44.84 | -24.6 | 306.42 | 10.98 | -27.38 | -8.58 |
| 22Q2 (14) | 17.95 | -1.48 | -3.65 | 10.22 | -18.82 | -26.26 | 25.21 | 40.29 | 136.49 | 15.09 | 4.5 | 103.37 | 5.13 | -20.47 | 45.33 | 2.42 | -19.87 | 32.97 | 0.16 | -23.81 | -33.33 | 27.03 | 39.62 | 122.1 | 118.07 | 4.46 | 9.22 | 40.53 | -42.16 | -68.82 | 59.47 | 98.45 | 298.14 | 15.12 | 22.53 | 30.34 |
| 22Q1 (13) | 18.22 | -5.5 | 3.05 | 12.59 | -10.01 | 2.19 | 17.97 | 46.34 | 15.41 | 14.44 | 126.33 | 21.86 | 6.45 | 102.19 | 16.64 | 3.02 | 100.0 | 2.37 | 0.21 | -8.7 | -16.0 | 19.36 | 43.51 | 12.95 | 113.03 | -5.17 | 25.99 | 70.07 | -38.5 | -11.5 | 29.97 | 314.98 | 43.91 | 12.34 | 7.96 | 3.61 |
| 21Q4 (12) | 19.28 | 3.82 | 0.78 | 13.99 | 8.37 | -3.72 | 12.28 | -15.37 | 20.16 | 6.38 | -42.37 | -16.16 | 3.19 | -39.58 | -27.66 | 1.51 | -40.78 | -34.35 | 0.23 | 0.0 | -20.69 | 13.49 | -15.21 | 15.5 | 119.19 | 6.36 | 32.13 | 113.94 | 28.0 | -19.88 | -13.94 | -226.33 | 66.97 | 11.43 | -4.83 | 11.08 |
| 21Q3 (11) | 18.57 | -0.32 | -10.94 | 12.91 | -6.85 | -21.47 | 14.51 | 36.12 | 11.19 | 11.07 | 49.19 | 15.31 | 5.28 | 49.58 | -6.88 | 2.55 | 40.11 | -7.94 | 0.23 | -4.17 | -17.86 | 15.91 | 30.73 | 8.01 | 112.06 | 3.66 | 7.19 | 89.02 | -31.53 | -29.34 | 11.03 | 136.76 | 142.48 | 12.01 | 3.53 | 24.2 |
| 21Q2 (10) | 18.63 | 5.37 | -8.99 | 13.86 | 12.5 | -14.29 | 10.66 | -31.54 | -28.84 | 7.42 | -37.38 | -35.08 | 3.53 | -36.17 | -45.52 | 1.82 | -38.31 | -46.78 | 0.24 | -4.0 | -17.24 | 12.17 | -29.0 | -28.5 | 108.10 | 20.5 | -6.62 | 130.01 | 64.2 | 20.41 | -30.01 | -244.14 | -276.16 | 11.60 | -2.6 | 0 |
| 21Q1 (9) | 17.68 | -7.58 | 36.95 | 12.32 | -15.21 | 95.87 | 15.57 | 52.35 | 45.38 | 11.85 | 55.72 | 41.92 | 5.53 | 25.4 | 114.34 | 2.95 | 28.26 | 94.08 | 0.25 | -13.79 | 47.06 | 17.14 | 46.75 | 20.37 | 89.71 | -0.55 | 15.28 | 79.18 | -44.32 | 34.85 | 20.82 | 149.34 | -49.43 | 11.91 | 15.74 | -7.6 |
| 20Q4 (8) | 19.13 | -8.25 | 3.02 | 14.53 | -11.62 | 7.07 | 10.22 | -21.69 | -13.61 | 7.61 | -20.73 | 31.66 | 4.41 | -22.22 | 57.5 | 2.30 | -16.97 | 44.65 | 0.29 | 3.57 | 11.54 | 11.68 | -20.71 | -17.51 | 90.21 | -13.71 | 7.07 | 142.21 | 12.89 | 23.98 | -42.21 | -62.51 | -187.18 | 10.29 | 6.41 | -8.53 |
| 20Q3 (7) | 20.85 | 1.86 | 5.36 | 16.44 | 1.67 | 10.26 | 13.05 | -12.88 | -31.13 | 9.60 | -16.01 | -33.84 | 5.67 | -12.5 | -31.52 | 2.77 | -19.01 | -33.89 | 0.28 | -3.45 | 0.0 | 14.73 | -13.45 | -30.94 | 104.54 | -9.69 | 18.08 | 125.97 | 16.66 | 60.1 | -25.97 | -225.49 | -221.82 | 9.67 | 0 | -15.84 |
| 20Q2 (6) | 20.47 | 58.56 | 19.08 | 16.17 | 157.07 | 36.34 | 14.98 | 39.87 | -3.04 | 11.43 | 36.89 | -0.7 | 6.48 | 151.16 | 15.51 | 3.42 | 125.0 | 25.27 | 0.29 | 70.59 | 26.09 | 17.02 | 19.52 | -9.85 | 115.76 | 48.75 | -1.02 | 107.98 | 83.9 | 40.65 | -7.98 | -119.38 | -134.35 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 12.91 | -30.48 | -23.11 | 6.29 | -53.65 | -45.59 | 10.71 | -9.47 | -12.5 | 8.35 | 44.46 | -13.11 | 2.58 | -7.86 | -51.69 | 1.52 | -4.4 | -39.68 | 0.17 | -34.62 | -32.0 | 14.24 | 0.56 | -7.23 | 77.82 | -7.63 | -31.71 | 58.71 | -48.81 | -37.8 | 41.18 | 380.18 | 641.58 | 12.89 | 14.58 | 22.53 |
| 19Q4 (4) | 18.57 | -6.16 | 0.0 | 13.57 | -8.99 | 0.0 | 11.83 | -37.57 | 0.0 | 5.78 | -60.17 | 0.0 | 2.80 | -66.18 | 0.0 | 1.59 | -62.05 | 0.0 | 0.26 | -7.14 | 0.0 | 14.16 | -33.61 | 0.0 | 84.25 | -4.83 | 0.0 | 114.70 | 45.77 | 0.0 | -14.70 | -168.94 | 0.0 | 11.25 | -2.09 | 0.0 |
| 19Q3 (3) | 19.79 | 15.13 | 0.0 | 14.91 | 25.72 | 0.0 | 18.95 | 22.65 | 0.0 | 14.51 | 26.06 | 0.0 | 8.28 | 47.59 | 0.0 | 4.19 | 53.48 | 0.0 | 0.28 | 21.74 | 0.0 | 21.33 | 12.98 | 0.0 | 88.53 | -24.3 | 0.0 | 78.68 | 2.49 | 0.0 | 21.32 | -8.23 | 0.0 | 11.49 | 19.07 | 0.0 |
| 19Q2 (2) | 17.19 | 2.38 | 0.0 | 11.86 | 2.6 | 0.0 | 15.45 | 26.23 | 0.0 | 11.51 | 19.77 | 0.0 | 5.61 | 5.06 | 0.0 | 2.73 | 8.33 | 0.0 | 0.23 | -8.0 | 0.0 | 18.88 | 23.0 | 0.0 | 116.95 | 2.62 | 0.0 | 76.77 | -18.67 | 0.0 | 23.23 | 318.38 | 0.0 | 9.65 | -8.27 | 0.0 |
| 19Q1 (1) | 16.79 | 0.0 | 0.0 | 11.56 | 0.0 | 0.0 | 12.24 | 0.0 | 0.0 | 9.61 | 0.0 | 0.0 | 5.34 | 0.0 | 0.0 | 2.52 | 0.0 | 0.0 | 0.25 | 0.0 | 0.0 | 15.35 | 0.0 | 0.0 | 113.96 | 0.0 | 0.0 | 94.39 | 0.0 | 0.0 | 5.55 | 0.0 | 0.0 | 10.52 | 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) | 20.14 | 1.21 | 12.98 | -7.35 | 1.67 | 48.72 | 17.11 | -20.71 | 11.97 | 4.45 | 15.45 | -25.72 | 8.94 | -13.71 | 0.70 | -20.45 | 19.93 | -13.65 | 77.50 | -17.11 | 75.87 | 16.83 | 24.14 | -31.13 | 0.71 | 1571.11 | 13.00 | 7.17 |
| 2022 (9) | 19.90 | 7.28 | 14.01 | 5.42 | 1.12 | -6.99 | 21.58 | 63.11 | 11.46 | 25.66 | 20.80 | 20.44 | 10.36 | 20.89 | 0.88 | -4.35 | 23.08 | 57.54 | 93.50 | -21.55 | 64.94 | -35.33 | 35.06 | 0 | 0.04 | -7.41 | 12.13 | 3.41 |
| 2021 (8) | 18.55 | -2.52 | 13.29 | -6.8 | 1.21 | -23.1 | 13.23 | 6.87 | 9.12 | -2.15 | 17.27 | -6.19 | 8.57 | -15.82 | 0.92 | -12.38 | 14.65 | 1.88 | 119.19 | 32.13 | 100.41 | -12.77 | -0.41 | 0 | 0.05 | 51.21 | 11.73 | 14.22 |
| 2020 (7) | 19.03 | 5.08 | 14.26 | 9.69 | 1.57 | -29.87 | 12.38 | -15.72 | 9.32 | -10.9 | 18.41 | -16.55 | 10.18 | -8.04 | 1.05 | 3.96 | 14.38 | -17.78 | 90.21 | 7.07 | 115.12 | 30.02 | -15.13 | 0 | 0.03 | 18.33 | 10.27 | -4.47 |
| 2019 (6) | 18.11 | 17.14 | 13.00 | 37.42 | 2.23 | -22.22 | 14.69 | 19.72 | 10.46 | 11.99 | 22.06 | 7.56 | 11.07 | 16.65 | 1.01 | 4.12 | 17.49 | 11.12 | 84.25 | -36.58 | 88.53 | 14.83 | 11.47 | -49.93 | 0.03 | -3.46 | 10.75 | -9.51 |
| 2018 (5) | 15.46 | 6.92 | 9.46 | 3.61 | 2.87 | -8.12 | 12.27 | 60.81 | 9.34 | 66.19 | 20.51 | 55.5 | 9.49 | 51.36 | 0.97 | -10.19 | 15.74 | 42.7 | 132.84 | 10.48 | 77.10 | -35.6 | 22.90 | 0 | 0.03 | 0 | 11.88 | 7.61 |
| 2017 (4) | 14.46 | 13.41 | 9.13 | 36.68 | 3.13 | -30.36 | 7.63 | -24.9 | 5.62 | -17.96 | 13.19 | -1.57 | 6.27 | -1.72 | 1.08 | 21.35 | 11.03 | -26.86 | 120.24 | 4.2 | 119.71 | 82.01 | -19.69 | 0 | 0.00 | 0 | 11.04 | -20.29 |
| 2016 (3) | 12.75 | 3.32 | 6.68 | 5.53 | 4.49 | 26.55 | 10.16 | 31.44 | 6.85 | 15.51 | 13.40 | 6.26 | 6.38 | 5.8 | 0.89 | -6.32 | 15.08 | 26.62 | 115.39 | -5.55 | 65.77 | -19.66 | 34.23 | 88.75 | 0.00 | 0 | 13.85 | -3.75 |
| 2015 (2) | 12.34 | -9.53 | 6.33 | -18.32 | 3.55 | 31.99 | 7.73 | -17.06 | 5.93 | -18.21 | 12.61 | -20.84 | 6.03 | -17.4 | 0.95 | 0.0 | 11.91 | -5.55 | 122.17 | -3.26 | 81.87 | -1.45 | 18.13 | 7.11 | 0.00 | 0 | 14.39 | 10.86 |
| 2014 (1) | 13.64 | 0 | 7.75 | 0 | 2.69 | 31.3 | 9.32 | 0 | 7.25 | 0 | 15.93 | 0 | 7.30 | 0 | 0.95 | -25.78 | 12.61 | -0.86 | 126.29 | -6.64 | 83.07 | -7.98 | 16.93 | 74.04 | 0.00 | 0 | 12.98 | 35.35 |
