- 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) | 24.51 | 7.59 | 2.81 | 1.13 | -69.29 | 476.67 | -6.34 | -169.9 | -15.48 | -4.12 | -149.82 | -12.26 | -1.24 | -135.23 | -14.81 | -0.70 | -132.26 | -7.69 | 0.18 | -30.77 | -5.26 | -0.42 | -103.22 | -197.67 | 64.74 | 1.46 | 16.75 | -20.00 | -150.0 | -360.0 | 120.00 | 100.0 | 30.0 | 20.46 | 20.28 | -5.01 |
| 23Q3 (19) | 22.78 | -5.87 | 3.45 | 3.68 | 433.33 | 180.35 | 9.07 | 52.69 | -1.31 | 8.27 | 57.52 | 9.54 | 3.52 | 96.65 | 56.44 | 2.17 | 90.35 | 51.75 | 0.26 | 23.81 | 44.44 | 13.03 | 15.51 | -13.88 | 63.81 | -5.42 | 20.81 | 40.00 | 220.0 | 180.0 | 60.00 | -31.43 | -60.0 | 17.01 | -14.65 | -10.43 |
| 23Q2 (18) | 24.20 | -2.1 | 4.76 | 0.69 | -43.44 | 483.33 | 5.94 | 219.35 | 4.39 | 5.25 | 162.5 | 9.15 | 1.79 | 188.71 | 6.55 | 1.14 | 159.09 | 9.62 | 0.21 | 5.0 | 5.0 | 11.28 | 46.68 | 6.02 | 67.47 | 10.72 | -8.23 | 12.50 | -79.17 | 300.0 | 87.50 | 118.75 | -17.65 | 19.93 | 1.01 | 21.9 |
| 23Q1 (17) | 24.72 | 3.69 | 2.7 | 1.22 | 506.67 | -70.39 | 1.86 | 133.88 | -75.88 | 2.00 | 154.5 | -68.8 | 0.62 | 157.41 | -78.09 | 0.44 | 167.69 | -74.57 | 0.20 | 5.26 | -23.08 | 7.69 | 1688.37 | -31.15 | 60.94 | 9.9 | -8.95 | 60.00 | 680.0 | 12.0 | 40.00 | -56.67 | -13.85 | 19.73 | -8.4 | 36.73 |
| 22Q4 (16) | 23.84 | 8.27 | -11.44 | -0.30 | 93.45 | -106.41 | -5.49 | -159.74 | -209.8 | -3.67 | -148.61 | -177.26 | -1.08 | -148.0 | -152.68 | -0.65 | -145.45 | -152.0 | 0.19 | 5.56 | -24.0 | 0.43 | -97.16 | -95.02 | 55.45 | 4.98 | -20.64 | 7.69 | 115.38 | -91.83 | 92.31 | -38.46 | 1469.23 | 21.54 | 13.43 | 37.46 |
| 22Q3 (15) | 22.02 | -4.68 | -23.99 | -4.58 | -2444.44 | -154.01 | 9.19 | 61.51 | 4.2 | 7.55 | 56.96 | 18.71 | 2.25 | 33.93 | -19.35 | 1.43 | 37.5 | -11.73 | 0.18 | -10.0 | -28.0 | 15.13 | 42.2 | 25.87 | 52.82 | -28.16 | -25.09 | -50.00 | -700.0 | -151.72 | 150.00 | 41.18 | 4400.0 | 18.99 | 16.15 | 23.47 |
| 22Q2 (14) | 23.10 | -4.03 | -18.0 | -0.18 | -104.37 | -101.68 | 5.69 | -26.2 | -43.5 | 4.81 | -24.96 | -34.2 | 1.68 | -40.64 | -53.72 | 1.04 | -39.88 | -52.51 | 0.20 | -23.08 | -33.33 | 10.64 | -4.74 | -17.07 | 73.52 | 9.85 | -13.59 | -6.25 | -111.67 | -105.95 | 106.25 | 128.85 | 2171.88 | 16.35 | 13.31 | 11.68 |
| 22Q1 (13) | 24.07 | -10.59 | -24.69 | 4.12 | -11.97 | -63.21 | 7.71 | 54.2 | -30.23 | 6.41 | 34.95 | -12.55 | 2.83 | 38.05 | -6.6 | 1.73 | 38.4 | -15.2 | 0.26 | 4.0 | -3.7 | 11.17 | 29.43 | -22.32 | 66.93 | -4.21 | 37.57 | 53.57 | -43.08 | -46.43 | 46.43 | 689.29 | 0 | 14.43 | -7.91 | -17.45 |
| 21Q4 (12) | 26.92 | -7.08 | -12.63 | 4.68 | -44.81 | -56.14 | 5.00 | -43.31 | -49.39 | 4.75 | -25.31 | -22.39 | 2.05 | -26.52 | -20.23 | 1.25 | -22.84 | -25.6 | 0.25 | 0.0 | -7.41 | 8.63 | -28.2 | -35.16 | 69.87 | -0.91 | 35.22 | 94.12 | -2.64 | -11.95 | 5.88 | 76.47 | 185.29 | 15.67 | 1.89 | -10.56 |
| 21Q3 (11) | 28.97 | 2.84 | -3.56 | 8.48 | -20.82 | -27.71 | 8.82 | -12.41 | -12.76 | 6.36 | -13.0 | -20.7 | 2.79 | -23.14 | -29.9 | 1.62 | -26.03 | -28.63 | 0.25 | -16.67 | -10.71 | 12.02 | -6.31 | -11.16 | 70.51 | -17.13 | 17.69 | 96.67 | -8.05 | -16.76 | 3.33 | 165.0 | 120.67 | 15.38 | 5.05 | -1.47 |
| 21Q2 (10) | 28.17 | -11.86 | -10.17 | 10.71 | -4.37 | -9.01 | 10.07 | -8.87 | -5.18 | 7.31 | -0.27 | -13.9 | 3.63 | 19.8 | -12.11 | 2.19 | 7.35 | -0.9 | 0.30 | 11.11 | 20.0 | 12.83 | -10.78 | -10.53 | 85.08 | 74.88 | -17.63 | 105.13 | 5.13 | -4.73 | -5.13 | 0 | 50.43 | 14.64 | -16.25 | 0 |
| 21Q1 (9) | 31.96 | 3.73 | 17.8 | 11.20 | 4.97 | 131.88 | 11.05 | 11.84 | 93.52 | 7.33 | 19.77 | 76.2 | 3.03 | 17.9 | 74.14 | 2.04 | 21.43 | 104.0 | 0.27 | 0.0 | 22.73 | 14.38 | 8.04 | 36.56 | 48.65 | -5.84 | -41.81 | 100.00 | -6.45 | 18.18 | 0.00 | 100.0 | -100.0 | 17.48 | -0.23 | -8.63 |
| 20Q4 (8) | 30.81 | 2.56 | 6.76 | 10.67 | -9.04 | 48.81 | 9.88 | -2.27 | 236.05 | 6.12 | -23.69 | 143.82 | 2.57 | -35.43 | 119.66 | 1.68 | -25.99 | 143.48 | 0.27 | -3.57 | 8.0 | 13.31 | -1.63 | 87.99 | 51.67 | -13.75 | -42.96 | 106.90 | -7.95 | -55.98 | -6.90 | 57.24 | 95.17 | 17.52 | 12.24 | -5.65 |
| 20Q3 (7) | 30.04 | -4.21 | -2.21 | 11.73 | -0.34 | 48.48 | 10.11 | -4.8 | -1.27 | 8.02 | -5.54 | -3.49 | 3.98 | -3.63 | 1.02 | 2.27 | 2.71 | 6.57 | 0.28 | 12.0 | 12.0 | 13.53 | -5.65 | -8.4 | 59.91 | -42.0 | -33.96 | 116.13 | 5.24 | 46.69 | -16.13 | -55.91 | -164.52 | 15.61 | 0 | -23.7 |
| 20Q2 (6) | 31.36 | 15.59 | 4.26 | 11.77 | 143.69 | 81.36 | 10.62 | 85.99 | 24.5 | 8.49 | 104.09 | 34.34 | 4.13 | 137.36 | 44.41 | 2.21 | 121.0 | 34.76 | 0.25 | 13.64 | 0.0 | 14.34 | 36.18 | 5.91 | 103.29 | 23.55 | 13.86 | 110.34 | 30.41 | 47.13 | -10.34 | -167.24 | -141.38 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 27.13 | -5.99 | -3.69 | 4.83 | -32.64 | 47.26 | 5.71 | 94.22 | -14.01 | 4.16 | 65.74 | -25.45 | 1.74 | 48.72 | -25.96 | 1.00 | 44.93 | -28.06 | 0.22 | -12.0 | -8.33 | 10.53 | 48.73 | -13.33 | 83.60 | -7.71 | 13.94 | 84.62 | -65.16 | 69.23 | 15.38 | 110.77 | -69.23 | 19.13 | 3.02 | -8.56 |
| 19Q4 (4) | 28.86 | -6.05 | 0.0 | 7.17 | -9.24 | 0.0 | 2.94 | -71.29 | 0.0 | 2.51 | -69.8 | 0.0 | 1.17 | -70.3 | 0.0 | 0.69 | -67.61 | 0.0 | 0.25 | 0.0 | 0.0 | 7.08 | -52.06 | 0.0 | 90.58 | -0.15 | 0.0 | 242.86 | 206.77 | 0.0 | -142.86 | -671.43 | 0.0 | 18.57 | -9.24 | 0.0 |
| 19Q3 (3) | 30.72 | 2.13 | 0.0 | 7.90 | 21.73 | 0.0 | 10.24 | 20.05 | 0.0 | 8.31 | 31.49 | 0.0 | 3.94 | 37.76 | 0.0 | 2.13 | 29.88 | 0.0 | 0.25 | 0.0 | 0.0 | 14.77 | 9.08 | 0.0 | 90.72 | 0.0 | 0.0 | 79.17 | 5.56 | 0.0 | 25.00 | 0.0 | 0.0 | 20.46 | -5.41 | 0.0 |
| 19Q2 (2) | 30.08 | 6.78 | 0.0 | 6.49 | 97.87 | 0.0 | 8.53 | 28.46 | 0.0 | 6.32 | 13.26 | 0.0 | 2.86 | 21.7 | 0.0 | 1.64 | 17.99 | 0.0 | 0.25 | 4.17 | 0.0 | 13.54 | 11.44 | 0.0 | 90.72 | 23.65 | 0.0 | 75.00 | 50.0 | 0.0 | 25.00 | -50.0 | 0.0 | 21.63 | 3.39 | 0.0 |
| 19Q1 (1) | 28.17 | 0.0 | 0.0 | 3.28 | 0.0 | 0.0 | 6.64 | 0.0 | 0.0 | 5.58 | 0.0 | 0.0 | 2.35 | 0.0 | 0.0 | 1.39 | 0.0 | 0.0 | 0.24 | 0.0 | 0.0 | 12.15 | 0.0 | 0.0 | 73.37 | 0.0 | 0.0 | 50.00 | 0.0 | 0.0 | 50.00 | 0.0 | 0.0 | 20.92 | 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) | 23.95 | 2.61 | 1.82 | 658.33 | 4.81 | 5.07 | 3.26 | -30.93 | 3.37 | -18.2 | 4.63 | -20.03 | 3.10 | -17.77 | 0.86 | 0.0 | 8.33 | -13.32 | 64.74 | 16.75 | 57.14 | 909.52 | 45.71 | -51.54 | 0.08 | 0 | 19.11 | 9.89 |
| 2022 (9) | 23.34 | -19.27 | 0.24 | -97.27 | 4.58 | 48.79 | 4.72 | -45.93 | 4.12 | -36.12 | 5.79 | -50.13 | 3.77 | -48.64 | 0.86 | -23.21 | 9.61 | -19.98 | 55.45 | -20.64 | 5.66 | -94.39 | 94.34 | 0 | 0.00 | 0 | 17.39 | 10.69 |
| 2021 (8) | 28.91 | -3.54 | 8.78 | -12.38 | 3.08 | -8.77 | 8.73 | -5.72 | 6.45 | -5.56 | 11.61 | -3.01 | 7.34 | 0.0 | 1.12 | 7.69 | 12.01 | -7.9 | 69.87 | 35.22 | 100.84 | -6.49 | -0.84 | 0 | 0.00 | 0 | 15.71 | -9.76 |
| 2020 (7) | 29.97 | 1.66 | 10.02 | 59.55 | 3.37 | -22.42 | 9.26 | 30.98 | 6.83 | 20.46 | 11.97 | 17.35 | 7.34 | 27.87 | 1.04 | 8.33 | 13.04 | 10.04 | 51.67 | -42.96 | 107.84 | 20.86 | -7.84 | 0 | 0.09 | -9.44 | 17.41 | -14.49 |
| 2019 (6) | 29.48 | 4.65 | 6.28 | 11.94 | 4.35 | 51.53 | 7.07 | -17.02 | 5.67 | -14.48 | 10.20 | -25.87 | 5.74 | -22.75 | 0.96 | -10.28 | 11.85 | -0.42 | 90.58 | 9.83 | 89.23 | 34.69 | 10.77 | -68.09 | 0.10 | -54.46 | 20.36 | 3.88 |
| 2018 (5) | 28.17 | 9.27 | 5.61 | 48.02 | 2.87 | 10.34 | 8.52 | 416.36 | 6.63 | 531.43 | 13.76 | 540.0 | 7.43 | 415.97 | 1.07 | 7.0 | 11.90 | 145.36 | 82.47 | -22.53 | 66.25 | -71.02 | 33.75 | 0 | 0.22 | 0 | 19.60 | 3.05 |
| 2017 (4) | 25.78 | 2.18 | 3.79 | -32.44 | 2.60 | 65.91 | 1.65 | -70.69 | 1.05 | -74.14 | 2.15 | -76.16 | 1.44 | -71.08 | 1.00 | -13.79 | 4.85 | -37.26 | 106.46 | 4.57 | 228.57 | 128.57 | -128.57 | 0 | 0.00 | 0 | 19.02 | 15.9 |
| 2016 (3) | 25.23 | -2.02 | 5.61 | -11.37 | 1.57 | 39.64 | 5.63 | -28.55 | 4.06 | -37.54 | 9.02 | -44.8 | 4.98 | -44.48 | 1.16 | -14.71 | 7.73 | -16.79 | 101.81 | 22.15 | 100.00 | 24.19 | 0.00 | 0 | 0.00 | 0 | 16.41 | -2.15 |
| 2015 (2) | 25.75 | -2.79 | 6.33 | -6.22 | 1.12 | 10.12 | 7.88 | -2.84 | 6.50 | 0.93 | 16.34 | -10.66 | 8.97 | -13.08 | 1.36 | -11.69 | 9.29 | -3.53 | 83.35 | -4.96 | 80.52 | -3.38 | 19.48 | 16.88 | 0.00 | 0 | 16.77 | -5.73 |
| 2014 (1) | 26.49 | 0 | 6.75 | 0 | 1.02 | -15.18 | 8.11 | 0 | 6.44 | 0 | 18.29 | 0 | 10.32 | 0 | 1.54 | -1.28 | 9.63 | 6.06 | 87.70 | 9.13 | 83.33 | -2.78 | 16.67 | 33.33 | 0.00 | 0 | 17.79 | -9.0 |
