- 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) | 40.25 | 7.3 | 8.17 | 12.01 | 13.3 | -5.73 | 14.31 | 9.4 | 5.84 | 9.08 | 0.22 | -11.15 | 2.68 | 0.37 | -11.26 | 2.11 | 3.94 | -9.83 | 0.23 | 4.55 | 0.0 | 18.13 | 5.35 | 1.57 | 28.53 | -1.25 | -9.89 | 83.33 | 2.56 | -11.38 | 16.67 | -11.11 | 179.17 | 27.89 | 1.64 | 18.33 |
| 23Q3 (19) | 37.51 | -3.82 | 5.51 | 10.60 | -23.69 | 12.89 | 13.08 | -14.45 | 27.49 | 9.06 | -18.23 | 22.43 | 2.67 | -25.21 | 28.99 | 2.03 | -22.52 | 32.68 | 0.22 | -4.35 | 10.0 | 17.21 | -10.88 | 13.75 | 28.89 | -26.28 | -4.78 | 81.25 | -10.85 | -11.19 | 18.75 | 111.61 | 120.31 | 27.44 | 18.43 | 14.81 |
| 23Q2 (18) | 39.00 | 3.5 | 10.61 | 13.89 | 51.14 | 14.32 | 15.29 | 50.94 | 24.82 | 11.08 | 40.97 | 37.98 | 3.57 | 87.89 | 54.55 | 2.62 | 80.69 | 55.95 | 0.23 | 27.78 | 9.52 | 19.31 | 23.62 | 13.06 | 39.19 | 0.49 | -16.83 | 91.14 | 1.27 | -7.32 | 8.86 | -11.39 | 0 | 23.17 | -14.44 | 10.39 |
| 23Q1 (17) | 37.68 | 1.26 | 1.7 | 9.19 | -27.86 | 28.71 | 10.13 | -25.07 | 36.89 | 7.86 | -23.09 | 49.43 | 1.90 | -37.09 | 46.15 | 1.45 | -38.03 | 47.96 | 0.18 | -21.74 | 0.0 | 15.62 | -12.49 | 21.27 | 39.00 | 23.18 | 14.98 | 90.00 | -4.29 | -4.0 | 10.00 | 67.5 | 220.0 | 27.08 | 14.89 | -3.29 |
| 22Q4 (16) | 37.21 | 4.67 | 7.48 | 12.74 | 35.68 | 24.17 | 13.52 | 31.77 | 27.67 | 10.22 | 38.11 | 13.56 | 3.02 | 45.89 | -1.31 | 2.34 | 52.94 | 3.54 | 0.23 | 15.0 | -8.0 | 17.85 | 17.98 | 20.53 | 31.66 | 4.35 | -15.8 | 94.03 | 2.78 | -2.73 | 5.97 | -29.85 | 79.1 | 23.57 | -1.38 | 3.06 |
| 22Q3 (15) | 35.55 | 0.82 | -4.54 | 9.39 | -22.72 | -15.56 | 10.26 | -16.24 | -11.55 | 7.40 | -7.85 | -29.05 | 2.07 | -10.39 | -35.71 | 1.53 | -8.93 | -33.19 | 0.20 | -4.76 | -9.09 | 15.13 | -11.42 | -8.3 | 30.34 | -35.61 | -18.13 | 91.49 | -6.96 | -3.52 | 8.51 | 0 | 146.81 | 23.90 | 13.86 | -2.57 |
| 22Q2 (14) | 35.26 | -4.83 | -8.44 | 12.15 | 70.17 | -18.62 | 12.25 | 65.54 | -19.14 | 8.03 | 52.66 | -28.5 | 2.31 | 77.69 | -39.05 | 1.68 | 71.43 | -38.69 | 0.21 | 16.67 | -12.5 | 17.08 | 32.61 | -12.05 | 47.12 | 38.92 | 0.15 | 98.33 | 4.89 | -0.48 | 0.00 | -100.0 | -100.0 | 20.99 | -25.04 | 3.5 |
| 22Q1 (13) | 37.05 | 7.02 | -3.87 | 7.14 | -30.41 | -39.18 | 7.40 | -30.12 | -38.18 | 5.26 | -41.56 | -44.16 | 1.30 | -57.52 | -47.58 | 0.98 | -56.64 | -47.87 | 0.18 | -28.0 | -10.0 | 12.88 | -13.03 | -26.36 | 33.92 | -9.79 | 5.34 | 93.75 | -3.02 | -4.45 | 3.12 | -6.25 | 65.63 | 28.00 | 22.43 | 17.2 |
| 21Q4 (12) | 34.62 | -7.04 | -13.67 | 10.26 | -7.73 | -29.87 | 10.59 | -8.71 | -27.81 | 9.00 | -13.71 | -24.05 | 3.06 | -4.97 | -22.92 | 2.26 | -1.31 | -23.91 | 0.25 | 13.64 | 0.0 | 14.81 | -10.24 | -22.58 | 37.60 | 1.46 | 6.18 | 96.67 | 1.94 | -2.12 | 3.33 | -3.33 | 0 | 22.87 | -6.77 | 5.49 |
| 21Q3 (11) | 37.24 | -3.3 | -7.34 | 11.12 | -25.52 | -33.53 | 11.60 | -23.43 | -32.68 | 10.43 | -7.12 | -19.4 | 3.22 | -15.04 | -24.59 | 2.29 | -16.42 | -24.42 | 0.22 | -8.33 | -4.35 | 16.50 | -15.04 | -23.89 | 37.06 | -21.23 | 5.31 | 94.83 | -4.03 | -2.97 | 3.45 | 189.66 | 1.15 | 24.53 | 20.96 | 0 |
| 21Q2 (10) | 38.51 | -0.08 | -7.47 | 14.93 | 27.17 | -18.68 | 15.15 | 26.57 | -17.44 | 11.23 | 19.21 | -20.58 | 3.79 | 52.82 | -20.21 | 2.74 | 45.74 | -19.17 | 0.24 | 20.0 | 0.0 | 19.42 | 11.03 | -13.99 | 47.05 | 46.12 | -5.37 | 98.81 | 0.71 | -1.19 | 1.19 | -36.9 | 0 | 20.28 | -15.11 | 1.96 |
| 21Q1 (9) | 38.54 | -3.89 | 2.5 | 11.74 | -19.75 | 202.58 | 11.97 | -18.4 | 104.97 | 9.42 | -20.51 | 109.33 | 2.48 | -37.53 | 175.56 | 1.88 | -36.7 | 164.79 | 0.20 | -20.0 | 33.33 | 17.49 | -8.57 | 38.59 | 32.20 | -9.07 | -3.45 | 98.11 | -0.66 | 43.4 | 1.89 | 0 | -94.03 | 23.89 | 10.19 | -16.03 |
| 20Q4 (8) | 40.10 | -0.22 | 8.09 | 14.63 | -12.55 | 22.12 | 14.67 | -14.86 | 33.85 | 11.85 | -8.42 | -9.89 | 3.97 | -7.03 | -10.59 | 2.97 | -1.98 | -9.45 | 0.25 | 8.7 | 0.0 | 19.13 | -11.76 | 28.13 | 35.41 | 0.63 | -1.67 | 98.77 | 1.06 | -8.95 | 0.00 | -100.0 | 100.0 | 21.68 | 0 | 0 |
| 20Q3 (7) | 40.19 | -3.44 | 1.82 | 16.73 | -8.88 | 27.42 | 17.23 | -6.1 | 24.14 | 12.94 | -8.49 | 38.4 | 4.27 | -10.11 | 48.26 | 3.03 | -10.62 | 47.8 | 0.23 | -4.17 | 9.52 | 21.68 | -3.99 | 17.76 | 35.19 | -29.22 | -6.95 | 97.73 | -2.27 | 2.38 | 3.41 | 0 | -43.75 | 0.00 | -100.0 | -100.0 |
| 20Q2 (6) | 41.62 | 10.69 | 16.78 | 18.36 | 373.2 | 43.55 | 18.35 | 214.21 | 22.99 | 14.14 | 214.22 | 30.08 | 4.75 | 427.78 | 41.37 | 3.39 | 377.46 | 40.66 | 0.24 | 60.0 | 9.09 | 22.58 | 78.92 | 15.91 | 49.72 | 49.09 | 0.26 | 100.00 | 46.15 | 15.62 | -0.00 | -100.0 | -100.0 | 19.89 | -30.09 | 3.06 |
| 20Q1 (5) | 37.60 | 1.35 | 7.4 | 3.88 | -67.61 | -1.27 | 5.84 | -46.72 | -27.27 | 4.50 | -65.78 | -6.44 | 0.90 | -79.73 | -18.92 | 0.71 | -78.35 | -17.44 | 0.15 | -40.0 | -11.76 | 12.62 | -15.47 | -7.07 | 33.35 | -7.39 | -3.0 | 68.42 | -36.92 | 41.4 | 31.58 | 472.63 | -38.82 | 28.45 | 0 | 13.39 |
| 19Q4 (4) | 37.10 | -6.0 | 0.0 | 11.98 | -8.76 | 0.0 | 10.96 | -21.04 | 0.0 | 13.15 | 40.64 | 0.0 | 4.44 | 54.17 | 0.0 | 3.28 | 60.0 | 0.0 | 0.25 | 19.05 | 0.0 | 14.93 | -18.9 | 0.0 | 36.01 | -4.79 | 0.0 | 108.47 | 13.64 | 0.0 | -8.47 | -239.83 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 39.47 | 10.75 | 0.0 | 13.13 | 2.66 | 0.0 | 13.88 | -6.97 | 0.0 | 9.35 | -13.98 | 0.0 | 2.88 | -14.29 | 0.0 | 2.05 | -14.94 | 0.0 | 0.21 | -4.55 | 0.0 | 18.41 | -5.49 | 0.0 | 37.82 | -23.73 | 0.0 | 95.45 | 10.37 | 0.0 | 6.06 | -59.23 | 0.0 | 23.11 | 19.74 | 0.0 |
| 19Q2 (2) | 35.64 | 1.8 | 0.0 | 12.79 | 225.45 | 0.0 | 14.92 | 85.8 | 0.0 | 10.87 | 125.99 | 0.0 | 3.36 | 202.7 | 0.0 | 2.41 | 180.23 | 0.0 | 0.22 | 29.41 | 0.0 | 19.48 | 43.45 | 0.0 | 49.59 | 44.24 | 0.0 | 86.49 | 78.74 | 0.0 | 14.86 | -71.2 | 0.0 | 19.30 | -23.08 | 0.0 |
| 19Q1 (1) | 35.01 | 0.0 | 0.0 | 3.93 | 0.0 | 0.0 | 8.03 | 0.0 | 0.0 | 4.81 | 0.0 | 0.0 | 1.11 | 0.0 | 0.0 | 0.86 | 0.0 | 0.0 | 0.17 | 0.0 | 0.0 | 13.58 | 0.0 | 0.0 | 34.38 | 0.0 | 0.0 | 48.39 | 0.0 | 0.0 | 51.61 | 0.0 | 0.0 | 25.09 | 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) | 38.67 | 6.65 | 11.57 | 10.4 | 3.88 | -13.94 | 13.39 | 21.84 | 9.36 | 19.69 | 10.50 | 22.09 | 8.22 | 25.88 | 0.86 | 4.88 | 17.63 | 11.3 | 28.53 | -9.89 | 86.67 | -8.89 | 13.73 | 212.64 | 0.14 | 0.82 | 26.32 | 9.71 |
| 2022 (9) | 36.26 | -2.37 | 10.48 | -13.03 | 4.51 | 3.61 | 10.99 | -11.08 | 7.82 | -22.03 | 8.60 | -29.97 | 6.53 | -28.24 | 0.82 | -8.89 | 15.84 | -6.99 | 31.66 | -15.8 | 95.12 | -2.59 | 4.39 | 59.93 | 0.14 | -36.89 | 23.99 | 5.27 |
| 2021 (8) | 37.14 | -7.4 | 12.05 | -16.26 | 4.35 | -0.84 | 12.36 | -16.88 | 10.03 | -12.93 | 12.28 | -7.95 | 9.10 | -8.63 | 0.90 | 5.88 | 17.03 | -13.33 | 37.60 | 6.18 | 97.65 | 0.84 | 2.75 | -13.38 | 0.21 | -30.41 | 22.79 | 3.83 |
| 2020 (7) | 40.11 | 8.73 | 14.39 | 32.5 | 4.39 | 6.68 | 14.87 | 22.49 | 11.52 | 16.25 | 13.34 | 15.9 | 9.96 | 15.95 | 0.85 | 0.0 | 19.65 | 17.45 | 35.41 | -1.67 | 96.83 | 8.11 | 3.17 | -69.63 | 0.31 | -2.94 | 21.95 | -1.39 |
| 2019 (6) | 36.89 | -1.68 | 10.86 | -3.81 | 4.12 | 13.34 | 12.14 | -0.41 | 9.91 | 7.25 | 11.51 | 0.52 | 8.59 | 4.37 | 0.85 | -2.3 | 16.73 | 2.89 | 36.01 | -2.41 | 89.57 | -2.9 | 10.43 | 42.4 | 0.32 | -28.83 | 22.26 | 8.43 |
| 2018 (5) | 37.52 | -1.83 | 11.29 | -27.16 | 3.63 | 11.75 | 12.19 | -19.16 | 9.24 | -22.09 | 11.45 | -32.17 | 8.23 | -26.19 | 0.87 | -5.43 | 16.26 | -13.33 | 36.90 | -21.92 | 92.24 | -10.39 | 7.33 | 0 | 0.45 | 4.14 | 20.53 | 9.14 |
| 2017 (4) | 38.22 | -4.97 | 15.50 | -18.38 | 3.25 | 0.74 | 15.08 | -22.47 | 11.86 | -22.23 | 16.88 | -34.04 | 11.15 | -26.16 | 0.92 | -5.15 | 18.76 | -19.0 | 47.26 | -23.85 | 102.94 | 5.29 | -2.94 | 0 | 0.43 | 0 | 18.81 | 5.91 |
| 2016 (3) | 40.22 | -0.96 | 18.99 | -13.8 | 3.23 | 8.5 | 19.45 | -11.19 | 15.25 | -9.39 | 25.59 | 0 | 15.10 | 0 | 0.97 | 0 | 23.16 | -8.78 | 62.06 | -29.15 | 97.77 | -2.86 | 2.48 | 0 | 0.00 | 0 | 17.76 | 18.32 |
| 2015 (2) | 40.61 | 0 | 22.03 | 0 | 2.97 | 0 | 21.90 | 0 | 16.83 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 25.39 | 0 | 87.59 | 0 | 100.65 | 0 | -0.65 | 0 | 0.00 | 0 | 15.01 | 0 |
