- 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) | 14.15 | 4.43 | -5.16 | 6.20 | 5.62 | -6.2 | 8.16 | 40.21 | 47.03 | 4.84 | 37.11 | -0.62 | 1.67 | 36.89 | 0.0 | 1.10 | 37.5 | 0.92 | 0.20 | -4.76 | -4.76 | 14.37 | 38.97 | 29.58 | 71.71 | 0.28 | 8.65 | 76.00 | -24.78 | -36.22 | 24.00 | 2416.0 | 225.26 | 6.96 | -4.0 | -26.11 |
| 23Q3 (19) | 13.55 | 26.64 | 17.72 | 5.87 | 443.52 | 6.73 | 5.82 | 288.0 | 2.11 | 3.53 | 358.44 | -19.22 | 1.22 | 454.55 | -9.63 | 0.80 | 300.0 | -12.09 | 0.21 | 23.53 | 10.53 | 10.34 | 54.56 | -2.45 | 71.51 | 9.8 | 14.16 | 101.04 | 41.1 | 4.8 | -1.04 | -103.65 | -128.86 | 7.25 | -16.47 | 14.72 |
| 23Q2 (18) | 10.70 | 0.0 | -12.58 | 1.08 | -47.06 | -81.63 | 1.50 | -29.91 | -80.77 | 0.77 | -34.75 | -86.47 | 0.22 | -42.11 | -89.42 | 0.20 | -33.33 | -84.62 | 0.17 | -10.53 | -22.73 | 6.69 | -4.84 | -42.48 | 65.13 | -12.88 | 4.22 | 71.60 | -25.04 | -5.16 | 28.40 | 534.16 | 15.91 | 8.68 | 2.48 | 5.85 |
| 23Q1 (17) | 10.70 | -28.28 | -29.14 | 2.04 | -69.14 | -73.81 | 2.14 | -61.44 | -81.86 | 1.18 | -75.77 | -87.93 | 0.38 | -77.25 | -90.1 | 0.30 | -72.48 | -86.96 | 0.19 | -9.52 | -17.39 | 7.03 | -36.61 | -53.87 | 74.76 | 13.27 | 4.78 | 95.52 | -19.84 | 44.77 | 4.48 | 123.37 | -86.84 | 8.47 | -10.08 | 13.24 |
| 22Q4 (16) | 14.92 | 29.63 | -3.87 | 6.61 | 20.18 | -24.54 | 5.55 | -2.63 | -40.77 | 4.87 | 11.44 | -51.54 | 1.67 | 23.7 | -56.85 | 1.09 | 19.78 | -51.98 | 0.21 | 10.53 | -4.55 | 11.09 | 4.62 | -12.75 | 66.00 | 5.36 | -5.73 | 119.16 | 23.6 | 27.64 | -19.16 | -633.54 | -394.44 | 9.42 | 49.05 | -20.51 |
| 22Q3 (15) | 11.51 | -5.96 | -40.85 | 5.50 | -6.46 | -55.65 | 5.70 | -26.92 | -53.58 | 4.37 | -23.2 | -53.26 | 1.35 | -35.1 | -71.64 | 0.91 | -30.0 | -63.6 | 0.19 | -13.64 | -26.92 | 10.60 | -8.86 | -30.94 | 62.64 | 0.24 | -18.69 | 96.41 | 27.69 | -4.46 | 3.59 | -85.34 | 458.14 | 6.32 | -22.93 | -14.71 |
| 22Q2 (14) | 12.24 | -18.94 | -38.49 | 5.88 | -24.52 | -57.94 | 7.80 | -33.9 | -43.23 | 5.69 | -41.82 | -45.96 | 2.08 | -45.83 | -65.28 | 1.30 | -43.48 | -53.74 | 0.22 | -4.35 | -15.38 | 11.63 | -23.69 | -30.57 | 62.49 | -12.42 | -48.72 | 75.50 | 14.43 | -25.75 | 24.50 | -27.99 | 1547.88 | 8.20 | 9.63 | 5.67 |
| 22Q1 (13) | 15.10 | -2.71 | -18.47 | 7.79 | -11.07 | -33.53 | 11.80 | 25.93 | 3.51 | 9.78 | -2.69 | 12.54 | 3.84 | -0.78 | -18.3 | 2.30 | 1.32 | -4.17 | 0.23 | 4.55 | -14.81 | 15.24 | 19.91 | 4.1 | 71.35 | 1.91 | -35.18 | 65.98 | -29.32 | -35.84 | 34.02 | 422.74 | 1294.83 | 7.48 | -36.88 | -10.63 |
| 21Q4 (12) | 15.52 | -20.25 | -17.71 | 8.76 | -29.35 | -35.16 | 9.37 | -23.7 | -42.12 | 10.05 | 7.49 | -20.99 | 3.87 | -18.7 | -35.71 | 2.27 | -9.2 | -26.06 | 0.22 | -15.38 | -8.33 | 12.71 | -17.2 | -34.89 | 70.01 | -9.13 | -23.71 | 93.36 | -7.48 | 11.9 | 6.51 | 748.96 | -60.72 | 11.85 | 59.92 | 81.19 |
| 21Q3 (11) | 19.46 | -2.21 | 3.18 | 12.40 | -11.3 | 7.17 | 12.28 | -10.63 | -6.47 | 9.35 | -11.21 | -9.84 | 4.76 | -20.53 | -11.36 | 2.50 | -11.03 | -4.94 | 0.26 | 0.0 | 4.0 | 15.35 | -8.36 | -7.92 | 77.04 | -36.78 | -29.23 | 100.91 | -0.77 | 14.53 | -1.00 | 40.73 | -108.44 | 7.41 | -4.51 | -16.18 |
| 21Q2 (10) | 19.90 | 7.45 | -5.06 | 13.98 | 19.28 | -3.32 | 13.74 | 20.53 | -4.65 | 10.53 | 21.17 | -9.07 | 5.99 | 27.45 | -16.46 | 2.81 | 17.08 | -17.11 | 0.26 | -3.7 | -10.34 | 16.75 | 14.41 | -2.16 | 121.86 | 10.71 | 9.64 | 101.69 | -1.12 | 1.32 | -1.69 | 40.57 | -355.54 | 7.76 | -7.29 | -0.39 |
| 21Q1 (9) | 18.52 | -1.8 | -1.7 | 11.72 | -13.25 | 11.2 | 11.40 | -29.59 | 25.14 | 8.69 | -31.68 | 29.32 | 4.70 | -21.93 | 33.9 | 2.40 | -21.82 | 52.87 | 0.27 | 12.5 | 22.73 | 14.64 | -25.0 | 11.33 | 110.07 | 19.94 | -5.31 | 102.85 | 23.27 | -11.05 | -2.85 | -117.19 | 81.78 | 8.37 | 27.98 | -21.04 |
| 20Q4 (8) | 18.86 | 0.0 | -10.1 | 13.51 | 16.77 | -2.1 | 16.19 | 23.31 | 15.48 | 12.72 | 22.66 | 17.78 | 6.02 | 12.1 | -21.31 | 3.07 | 16.73 | 2.33 | 0.24 | -4.0 | -11.11 | 19.52 | 17.1 | 14.49 | 91.77 | -15.7 | -43.72 | 83.43 | -5.31 | -15.19 | 16.57 | 39.36 | 999.7 | 6.54 | -26.02 | -48.22 |
| 20Q3 (7) | 18.86 | -10.02 | -11.41 | 11.57 | -19.99 | -21.29 | 13.13 | -8.88 | -4.65 | 10.37 | -10.45 | -7.49 | 5.37 | -25.1 | -38.28 | 2.63 | -22.42 | -23.55 | 0.25 | -13.79 | -16.67 | 16.67 | -2.63 | 2.52 | 108.86 | -2.06 | -31.72 | 88.11 | -12.21 | -17.52 | 11.89 | 3300.64 | 276.9 | 8.84 | 13.48 | 37.69 |
| 20Q2 (6) | 20.96 | 11.25 | 7.93 | 14.46 | 37.19 | 18.33 | 14.41 | 58.18 | 17.83 | 11.58 | 72.32 | 19.63 | 7.17 | 104.27 | 3.46 | 3.39 | 115.92 | 15.7 | 0.29 | 31.82 | -3.33 | 17.12 | 30.19 | 15.13 | 111.15 | -4.38 | -28.84 | 100.37 | -13.19 | 0.37 | -0.37 | 97.62 | 0 | 7.79 | -26.51 | 6.13 |
| 20Q1 (5) | 18.84 | -10.2 | 2.61 | 10.54 | -23.62 | -5.13 | 9.11 | -35.02 | -22.73 | 6.72 | -37.78 | -29.71 | 3.51 | -54.12 | -42.17 | 1.57 | -47.67 | -41.85 | 0.22 | -18.52 | -21.43 | 13.15 | -22.87 | -11.33 | 116.24 | -28.72 | -9.23 | 115.62 | 17.53 | 22.7 | -15.62 | -1137.26 | -370.83 | 10.60 | -16.07 | 28.95 |
| 19Q4 (4) | 20.98 | -1.46 | 0.0 | 13.80 | -6.12 | 0.0 | 14.02 | 1.82 | 0.0 | 10.80 | -3.66 | 0.0 | 7.65 | -12.07 | 0.0 | 3.00 | -12.79 | 0.0 | 0.27 | -10.0 | 0.0 | 17.05 | 4.86 | 0.0 | 163.07 | 2.28 | 0.0 | 98.38 | -7.92 | 0.0 | 1.51 | 122.42 | 0.0 | 12.63 | 96.73 | 0.0 |
| 19Q3 (3) | 21.29 | 9.63 | 0.0 | 14.70 | 20.29 | 0.0 | 13.77 | 12.59 | 0.0 | 11.21 | 15.81 | 0.0 | 8.70 | 25.54 | 0.0 | 3.44 | 17.41 | 0.0 | 0.30 | 0.0 | 0.0 | 16.26 | 9.35 | 0.0 | 159.43 | 2.07 | 0.0 | 106.83 | 6.83 | 0.0 | -6.72 | 0 | 0.0 | 6.42 | -12.53 | 0.0 |
| 19Q2 (2) | 19.42 | 5.77 | 0.0 | 12.22 | 9.99 | 0.0 | 12.23 | 3.73 | 0.0 | 9.68 | 1.26 | 0.0 | 6.93 | 14.17 | 0.0 | 2.93 | 8.52 | 0.0 | 0.30 | 7.14 | 0.0 | 14.87 | 0.27 | 0.0 | 156.20 | 21.97 | 0.0 | 100.00 | 6.12 | 0.0 | 0.00 | -100.0 | 0.0 | 7.34 | -10.71 | 0.0 |
| 19Q1 (1) | 18.36 | 0.0 | 0.0 | 11.11 | 0.0 | 0.0 | 11.79 | 0.0 | 0.0 | 9.56 | 0.0 | 0.0 | 6.07 | 0.0 | 0.0 | 2.70 | 0.0 | 0.0 | 0.28 | 0.0 | 0.0 | 14.83 | 0.0 | 0.0 | 128.06 | 0.0 | 0.0 | 94.23 | 0.0 | 0.0 | 5.77 | 0.0 | 0.0 | 8.22 | 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) | 12.38 | -8.5 | 3.97 | -39.02 | 4.30 | 17.24 | 4.59 | -42.26 | 2.70 | -57.61 | 3.42 | -61.83 | 2.37 | -57.45 | 0.75 | -10.71 | 9.80 | -20.33 | 71.71 | 8.65 | 86.37 | 5.46 | 13.63 | -24.7 | 0.03 | 0.01 | 7.79 | -1.02 |
| 2022 (9) | 13.53 | -26.39 | 6.51 | -44.55 | 3.67 | 25.91 | 7.95 | -32.23 | 6.37 | -34.13 | 8.96 | -50.55 | 5.57 | -46.29 | 0.84 | -20.0 | 12.30 | -17.39 | 66.00 | -5.73 | 81.90 | -18.19 | 18.10 | 0 | 0.03 | 22.11 | 7.87 | -10.67 |
| 2021 (8) | 18.38 | -5.6 | 11.74 | -7.27 | 2.91 | -4.76 | 11.73 | -12.13 | 9.67 | -7.82 | 18.12 | -24.15 | 10.37 | -6.49 | 1.05 | 1.94 | 14.89 | -10.89 | 70.01 | -23.71 | 100.10 | 5.61 | -0.13 | 0 | 0.02 | -37.0 | 8.81 | 5.26 |
| 2020 (7) | 19.47 | -3.09 | 12.66 | -2.91 | 3.06 | 22.78 | 13.35 | 2.69 | 10.49 | 1.35 | 23.89 | -17.96 | 11.09 | -7.2 | 1.03 | -8.85 | 16.71 | 5.76 | 91.77 | -43.72 | 94.79 | -5.52 | 5.18 | 0 | 0.04 | -17.72 | 8.37 | -3.35 |
| 2019 (6) | 20.09 | 38.27 | 13.04 | 63.61 | 2.49 | 5.95 | 13.00 | 32.92 | 10.35 | 30.68 | 29.12 | 25.36 | 11.95 | 20.83 | 1.13 | -7.38 | 15.80 | 27.73 | 163.07 | 21.76 | 100.32 | 23.27 | -0.29 | 0 | 0.04 | -11.53 | 8.66 | 35.95 |
| 2018 (5) | 14.53 | -0.55 | 7.97 | -3.51 | 2.35 | -3.84 | 9.78 | 9.76 | 7.92 | 34.92 | 23.23 | 32.44 | 9.89 | 38.71 | 1.22 | 3.39 | 12.37 | 6.09 | 133.93 | -9.26 | 81.39 | -12.16 | 18.57 | 154.43 | 0.05 | 0 | 6.37 | 4.6 |
| 2017 (4) | 14.61 | 0.34 | 8.26 | 2.35 | 2.45 | -23.69 | 8.91 | 8.66 | 5.87 | 21.28 | 17.54 | 27.94 | 7.13 | 25.53 | 1.18 | 5.36 | 11.66 | -0.68 | 147.60 | -8.17 | 92.65 | -5.83 | 7.30 | 371.14 | 0.00 | 0 | 6.09 | -6.31 |
| 2016 (3) | 14.56 | 16.95 | 8.07 | 37.71 | 3.21 | -14.1 | 8.20 | 46.43 | 4.84 | 53.65 | 13.71 | 60.54 | 5.68 | 49.08 | 1.12 | 1.82 | 11.74 | 17.75 | 160.73 | 10.77 | 98.39 | -5.84 | 1.55 | 0 | 0.00 | 0 | 6.50 | 0.93 |
| 2015 (2) | 12.45 | 14.75 | 5.86 | 29.36 | 3.73 | 16.21 | 5.60 | 21.21 | 3.15 | 19.77 | 8.54 | 14.32 | 3.81 | 8.55 | 1.10 | -8.33 | 9.97 | 21.0 | 145.10 | -1.1 | 104.49 | 6.44 | -4.49 | 0 | 0.00 | 0 | 6.44 | 5.92 |
| 2014 (1) | 10.85 | 0 | 4.53 | 0 | 3.21 | 23.55 | 4.62 | 0 | 2.63 | 0 | 7.47 | 0 | 3.51 | 0 | 1.20 | -5.51 | 8.24 | -23.13 | 146.71 | 15.86 | 98.17 | 4.63 | 1.83 | -70.69 | 0.00 | 0 | 6.08 | 4.83 |
