- 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) | 36.56 | -2.69 | 29.97 | 24.43 | 4.63 | 59.05 | 21.99 | -9.73 | 65.59 | 16.89 | -12.49 | 68.39 | 4.25 | -10.53 | 103.35 | 2.68 | -7.27 | 101.5 | 0.15 | 7.14 | 25.0 | 30.09 | -9.37 | 29.03 | 62.01 | -10.34 | -7.06 | 110.92 | 16.14 | -4.42 | -10.92 | -377.67 | 31.96 | 19.21 | -12.36 | -13.35 |
| 23Q3 (19) | 37.57 | 16.28 | 46.93 | 23.35 | 40.58 | 132.57 | 24.36 | 39.12 | 91.06 | 19.30 | 37.37 | 100.62 | 4.75 | 46.6 | 112.05 | 2.89 | 47.45 | 104.96 | 0.14 | 7.69 | 7.69 | 33.20 | 22.15 | 50.84 | 69.16 | -6.2 | -5.74 | 95.51 | 0.76 | 21.16 | 3.93 | -24.63 | -81.43 | 21.92 | -12.88 | -6.64 |
| 23Q2 (18) | 32.31 | 17.07 | 24.7 | 16.61 | 55.38 | 33.09 | 17.51 | 69.18 | 21.18 | 14.05 | 75.41 | 16.31 | 3.24 | 88.37 | -2.99 | 1.96 | 78.18 | 3.16 | 0.13 | 0.0 | -13.33 | 27.18 | 30.99 | 23.94 | 73.73 | -2.83 | 0.48 | 94.78 | -8.09 | 9.21 | 5.22 | 266.96 | -60.5 | 25.16 | 4.7 | 16.64 |
| 23Q1 (17) | 27.60 | -1.88 | 12.84 | 10.69 | -30.4 | 36.01 | 10.35 | -22.06 | -2.73 | 8.01 | -20.14 | -7.51 | 1.72 | -17.7 | -18.48 | 1.10 | -17.29 | -7.56 | 0.13 | 8.33 | 0.0 | 20.75 | -11.02 | 5.87 | 75.88 | 13.73 | -17.64 | 103.12 | -11.14 | 38.23 | -3.12 | 80.53 | -111.58 | 24.03 | 8.39 | -1.19 |
| 22Q4 (16) | 28.13 | 10.01 | 17.21 | 15.36 | 52.99 | 47.83 | 13.28 | 4.16 | 32.4 | 10.03 | 4.26 | 29.75 | 2.09 | -6.7 | 3.47 | 1.33 | -5.67 | 17.7 | 0.12 | -7.69 | -7.69 | 23.32 | 5.95 | 23.71 | 66.72 | -9.06 | -25.79 | 116.05 | 47.23 | 12.48 | -16.05 | -175.79 | -405.56 | 22.17 | -5.58 | 4.04 |
| 22Q3 (15) | 25.57 | -1.31 | 3.69 | 10.04 | -19.55 | 1.21 | 12.75 | -11.76 | -13.15 | 9.62 | -20.36 | -15.24 | 2.24 | -32.93 | -27.74 | 1.41 | -25.79 | -15.57 | 0.13 | -13.33 | -7.14 | 22.01 | 0.36 | -5.74 | 73.37 | -0.01 | -25.69 | 78.82 | -9.18 | 17.61 | 21.18 | 60.34 | -33.65 | 23.48 | 8.85 | 1.03 |
| 22Q2 (14) | 25.91 | 5.93 | -12.53 | 12.48 | 58.78 | -18.54 | 14.45 | 35.81 | 4.63 | 12.08 | 39.49 | 16.15 | 3.34 | 58.29 | 15.97 | 1.90 | 59.66 | 20.25 | 0.15 | 15.38 | 7.14 | 21.93 | 11.89 | -3.86 | 73.38 | -20.35 | -20.41 | 86.79 | 16.34 | -22.06 | 13.21 | -51.05 | 216.23 | 21.57 | -11.31 | -4.98 |
| 22Q1 (13) | 24.46 | 1.92 | -21.68 | 7.86 | -24.35 | -51.87 | 10.64 | 6.08 | -39.78 | 8.66 | 12.03 | -40.77 | 2.11 | 4.46 | -48.16 | 1.19 | 5.31 | -44.13 | 0.13 | 0.0 | -7.14 | 19.60 | 3.98 | -25.48 | 92.13 | 2.47 | -5.04 | 74.60 | -27.69 | -19.66 | 26.98 | 950.0 | 235.8 | 24.32 | 14.12 | 5.14 |
| 21Q4 (12) | 24.00 | -2.68 | -3.07 | 10.39 | 4.74 | -13.99 | 10.03 | -31.68 | 23.07 | 7.73 | -31.89 | 18.02 | 2.02 | -34.84 | 14.77 | 1.13 | -32.34 | 13.0 | 0.13 | -7.14 | -7.14 | 18.85 | -19.27 | 6.98 | 89.91 | -8.94 | -7.38 | 103.17 | 53.94 | -29.78 | -3.17 | -109.95 | 93.24 | 21.31 | -8.3 | 10.82 |
| 21Q3 (11) | 24.66 | -16.75 | 12.14 | 9.92 | -35.25 | 43.56 | 14.68 | 6.3 | 215.02 | 11.35 | 9.13 | 207.59 | 3.10 | 7.64 | 252.27 | 1.67 | 5.7 | 209.26 | 0.14 | 0.0 | 16.67 | 23.35 | 2.37 | 56.92 | 98.74 | 7.09 | 2.72 | 67.02 | -39.82 | -54.72 | 31.91 | 380.85 | 166.49 | 23.24 | 2.38 | 6.46 |
| 21Q2 (10) | 29.62 | -5.16 | 57.55 | 15.32 | -6.18 | 817.37 | 13.81 | -21.84 | 4084.85 | 10.40 | -28.86 | 2211.11 | 2.88 | -29.24 | 1594.12 | 1.58 | -25.82 | 586.96 | 0.14 | 0.0 | -33.33 | 22.81 | -13.27 | 75.33 | 92.20 | -4.97 | 5.71 | 111.36 | 19.93 | -76.14 | -11.36 | -241.41 | 97.16 | 22.70 | -1.86 | -17.54 |
| 21Q1 (9) | 31.23 | 26.13 | 0 | 16.33 | 35.18 | 0 | 17.67 | 116.81 | 0 | 14.62 | 123.21 | 0 | 4.07 | 131.25 | 0 | 2.13 | 113.0 | 0 | 0.14 | 0.0 | 0 | 26.30 | 49.26 | 0 | 97.02 | -0.05 | 0 | 92.86 | -36.81 | 0 | 8.04 | 117.12 | 0 | 23.13 | 20.28 | 0 |
| 20Q4 (8) | 24.76 | 12.6 | 0 | 12.08 | 74.82 | 0 | 8.15 | 74.89 | 0 | 6.55 | 77.51 | 0 | 1.76 | 100.0 | 0 | 1.00 | 85.19 | 0 | 0.14 | 16.67 | 0 | 17.62 | 18.41 | 0 | 97.07 | 0.98 | 0 | 146.94 | -0.72 | 0 | -46.94 | 2.21 | 0 | 19.23 | -11.91 | 0 |
| 20Q3 (7) | 21.99 | 16.97 | 0 | 6.91 | 313.77 | 0 | 4.66 | 1312.12 | 0 | 3.69 | 720.0 | 0 | 0.88 | 417.65 | 0 | 0.54 | 134.78 | 0 | 0.12 | -42.86 | 0 | 14.88 | 14.37 | 0 | 96.13 | 10.22 | 0 | 148.00 | -68.29 | 0 | -48.00 | 88.0 | 0 | 21.83 | -20.7 | 0 |
| 20Q2 (6) | 18.80 | 0 | 0 | 1.67 | 0 | 0 | 0.33 | 0 | 0 | 0.45 | 0 | 0 | 0.17 | 0 | 0 | 0.23 | 0 | 0 | 0.21 | 0 | 0 | 13.01 | 0 | 0 | 87.22 | 0 | 0 | 466.67 | 0 | 0 | -400.00 | 0 | 0 | 27.53 | 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) | 33.84 | 30.1 | 19.28 | 68.09 | 8.13 | 1.42 | 18.99 | 47.55 | 14.89 | 46.12 | 13.39 | 35.53 | 8.58 | 44.2 | 0.55 | 0.0 | 28.15 | 29.43 | 62.01 | -7.06 | 101.51 | 13.73 | -1.51 | 0 | 0.09 | -33.28 | 22.38 | -1.97 |
| 2022 (9) | 26.01 | -5.04 | 11.47 | -11.77 | 8.02 | 0.31 | 12.87 | -8.46 | 10.19 | -7.62 | 9.88 | -17.94 | 5.95 | -9.44 | 0.55 | -1.79 | 21.75 | -4.73 | 66.72 | -25.79 | 89.25 | -3.44 | 10.75 | 42.09 | 0.14 | -18.36 | 22.83 | 1.02 |
| 2021 (8) | 27.39 | 27.75 | 13.00 | 110.02 | 7.99 | -21.34 | 14.06 | 267.1 | 11.03 | 251.27 | 12.04 | 333.09 | 6.57 | 273.3 | 0.56 | 21.74 | 22.83 | 53.32 | 89.91 | -7.38 | 92.44 | -42.88 | 7.56 | 0 | 0.17 | -14.86 | 22.60 | -3.91 |
| 2020 (7) | 21.44 | 12.84 | 6.19 | 104.97 | 10.16 | -3.17 | 3.83 | 55.69 | 3.14 | 57.0 | 2.78 | 51.09 | 1.76 | 25.71 | 0.46 | -14.81 | 14.89 | 8.53 | 97.07 | 14.42 | 161.84 | 31.5 | -61.84 | 0 | 0.20 | 0 | 23.52 | -5.12 |
| 2019 (6) | 19.00 | 10.47 | 3.02 | -17.49 | 10.49 | 21.91 | 2.46 | -44.47 | 2.00 | -42.69 | 1.84 | -46.82 | 1.40 | -42.39 | 0.54 | -11.48 | 13.72 | -1.15 | 84.84 | 61.45 | 123.08 | 49.77 | -23.08 | 0 | 0.00 | 0 | 24.79 | 4.95 |
| 2018 (5) | 17.20 | 13.91 | 3.66 | 45.82 | 8.61 | -0.18 | 4.43 | 330.1 | 3.49 | 730.95 | 3.46 | 723.81 | 2.43 | 367.31 | 0.61 | 0.0 | 13.88 | 33.33 | 52.55 | -27.76 | 82.18 | -66.0 | 17.82 | 0 | 0.00 | 0 | 23.62 | 11.63 |
| 2017 (4) | 15.10 | -22.16 | 2.51 | -59.65 | 8.62 | -0.85 | 1.03 | -81.87 | 0.42 | -90.75 | 0.42 | -90.43 | 0.52 | -83.65 | 0.61 | -6.15 | 10.41 | -30.88 | 72.74 | 28.43 | 241.67 | 121.1 | -141.67 | 0 | 0.00 | 0 | 21.16 | -1.9 |
| 2016 (3) | 19.40 | -7.09 | 6.22 | -1.27 | 8.70 | -0.86 | 5.68 | -4.22 | 4.54 | 2.02 | 4.39 | 1.62 | 3.18 | -5.07 | 0.65 | -4.41 | 15.06 | -3.15 | 56.64 | 31.05 | 109.30 | 3.14 | -9.30 | 0 | 0.00 | 0 | 21.57 | 3.06 |
| 2015 (2) | 20.88 | -12.05 | 6.30 | -43.85 | 8.77 | 4.39 | 5.93 | -50.42 | 4.45 | -49.37 | 4.32 | -51.02 | 3.35 | -46.4 | 0.68 | -1.45 | 15.55 | -25.92 | 43.22 | -1.35 | 105.97 | 13.12 | -6.72 | 0 | 0.00 | 0 | 20.93 | 0.43 |
| 2014 (1) | 23.74 | 0 | 11.22 | 0 | 8.40 | 0 | 11.96 | 0 | 8.79 | 0 | 8.82 | 0 | 6.25 | 0 | 0.69 | 0 | 20.99 | 0 | 43.81 | 0 | 93.68 | 0 | 6.32 | 0 | 0.00 | 0 | 20.84 | 0 |
