- 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) | 54.48 | -13.44 | 5.17 | 19.48 | 74.24 | 8.64 | 13.79 | -20.38 | 2.0 | 10.54 | -22.61 | -2.23 | 2.02 | -14.77 | -21.09 | 1.32 | -19.02 | -33.67 | 0.12 | 9.09 | -33.33 | 20.67 | -18.65 | 12.21 | 69.16 | 12.99 | 131.92 | 138.10 | 107.14 | 7.41 | -42.86 | -212.5 | -28.57 | 31.27 | -22.6 | 28.52 |
| 23Q3 (19) | 62.94 | 7.66 | 24.56 | 11.18 | -46.17 | 14.43 | 17.32 | -27.71 | -28.16 | 13.62 | -32.07 | -28.32 | 2.37 | -46.38 | -36.12 | 1.63 | -49.85 | -40.29 | 0.11 | -31.25 | -21.43 | 25.41 | -14.1 | -16.91 | 61.21 | 27.87 | 84.81 | 66.67 | -24.44 | 61.11 | 38.10 | 159.05 | -35.01 | 40.40 | 25.19 | 17.72 |
| 23Q2 (18) | 58.46 | 8.74 | 14.58 | 20.77 | 30.79 | 84.79 | 23.96 | 72.5 | 25.51 | 20.05 | 88.26 | 41.0 | 4.42 | 122.11 | 49.32 | 3.25 | 107.01 | 54.03 | 0.16 | 14.29 | 6.67 | 29.58 | 44.36 | 13.38 | 47.87 | 68.56 | 14.3 | 88.24 | -21.05 | 49.32 | 14.71 | 225.0 | -64.05 | 32.27 | -4.92 | -4.1 |
| 23Q1 (17) | 53.76 | 3.78 | 9.87 | 15.88 | -11.43 | 139.88 | 13.89 | 2.74 | 0.87 | 10.65 | -1.21 | -14.94 | 1.99 | -22.27 | -30.66 | 1.57 | -21.11 | -21.89 | 0.14 | -22.22 | -12.5 | 20.49 | 11.24 | -3.53 | 28.40 | -4.76 | -35.38 | 111.76 | -13.07 | 123.53 | -11.76 | 64.71 | -123.53 | 33.94 | 39.5 | 0.59 |
| 22Q4 (16) | 51.80 | 2.51 | -1.76 | 17.93 | 83.52 | -14.37 | 13.52 | -43.92 | -33.1 | 10.78 | -43.26 | -30.81 | 2.56 | -31.0 | -53.28 | 1.99 | -27.11 | -46.93 | 0.18 | 28.57 | -25.0 | 18.42 | -39.76 | -27.19 | 29.82 | -9.96 | -36.9 | 128.57 | 210.71 | 24.9 | -33.33 | -156.86 | -1033.33 | 24.33 | -29.11 | -2.37 |
| 22Q3 (15) | 50.53 | -0.96 | -2.83 | 9.77 | -13.08 | -38.24 | 24.11 | 26.3 | 50.78 | 19.00 | 33.61 | 48.55 | 3.71 | 25.34 | 5.4 | 2.73 | 29.38 | 11.89 | 0.14 | -6.67 | -26.32 | 30.58 | 17.21 | 31.08 | 33.12 | -20.92 | -30.42 | 41.38 | -29.97 | -58.62 | 58.62 | 43.3 | 0 | 34.32 | 1.99 | 33.28 |
| 22Q2 (14) | 51.02 | 4.27 | -3.1 | 11.24 | 69.79 | -36.35 | 19.09 | 38.63 | 30.66 | 14.22 | 13.58 | -1.66 | 2.96 | 3.14 | -24.68 | 2.11 | 4.98 | -21.27 | 0.15 | -6.25 | -16.67 | 26.09 | 22.83 | 15.85 | 41.88 | -4.71 | -9.66 | 59.09 | 18.18 | -52.73 | 40.91 | -18.18 | 318.18 | 33.65 | -0.27 | 28.73 |
| 22Q1 (13) | 48.93 | -7.21 | -8.18 | 6.62 | -68.39 | -55.63 | 13.77 | -31.87 | 2.76 | 12.52 | -19.64 | 20.97 | 2.87 | -47.63 | 24.24 | 2.01 | -46.4 | 31.37 | 0.16 | -33.33 | 14.29 | 21.24 | -16.05 | -6.56 | 43.95 | -7.0 | -12.03 | 50.00 | -51.43 | -53.85 | 50.00 | 1800.0 | 700.0 | 33.74 | 35.39 | 10.26 |
| 21Q4 (12) | 52.73 | 1.4 | -0.43 | 20.94 | 32.36 | 20.83 | 20.21 | 26.39 | 30.47 | 15.58 | 21.81 | -9.99 | 5.48 | 55.68 | -8.05 | 3.75 | 53.69 | -2.34 | 0.24 | 26.32 | 9.09 | 25.30 | 8.44 | 17.46 | 47.26 | -0.71 | -19.1 | 102.94 | 2.94 | -10.49 | -2.94 | 0 | 70.59 | 24.92 | -3.22 | -20.05 |
| 21Q3 (11) | 52.00 | -1.23 | -9.27 | 15.82 | -10.42 | -24.92 | 15.99 | 9.45 | -16.19 | 12.79 | -11.55 | -14.45 | 3.52 | -10.43 | -19.08 | 2.44 | -8.96 | -16.72 | 0.19 | 5.56 | 0.0 | 23.33 | 3.6 | -10.99 | 47.60 | 2.67 | -12.1 | 100.00 | -20.0 | -9.09 | 0.00 | 100.0 | 100.0 | 25.75 | -1.49 | 1.54 |
| 21Q2 (10) | 52.65 | -1.2 | -2.41 | 17.66 | 18.36 | 45.11 | 14.61 | 9.03 | 20.94 | 14.46 | 39.71 | 50.94 | 3.93 | 70.13 | -16.91 | 2.68 | 75.16 | -18.54 | 0.18 | 28.57 | -45.45 | 22.52 | -0.92 | 9.37 | 46.36 | -7.21 | -6.06 | 125.00 | 15.38 | 19.05 | -18.75 | -125.0 | 0 | 26.14 | -14.58 | -20.33 |
| 21Q1 (9) | 53.29 | 0.62 | 0 | 14.92 | -13.91 | 0 | 13.40 | -13.49 | 0 | 10.35 | -40.21 | 0 | 2.31 | -61.24 | 0 | 1.53 | -60.16 | 0 | 0.14 | -36.36 | 0 | 22.73 | 5.52 | 0 | 49.96 | -14.48 | 0 | 108.33 | -5.8 | 0 | -8.33 | 16.67 | 0 | 30.60 | -1.83 | 0 |
| 20Q4 (8) | 52.96 | -7.59 | 0 | 17.33 | -17.75 | 0 | 15.49 | -18.82 | 0 | 17.31 | 15.79 | 0 | 5.96 | 37.01 | 0 | 3.84 | 31.06 | 0 | 0.22 | 15.79 | 0 | 21.54 | -17.82 | 0 | 58.42 | 7.89 | 0 | 115.00 | 4.55 | 0 | -10.00 | 0.0 | 0 | 31.17 | 22.91 | 0 |
| 20Q3 (7) | 57.31 | 6.23 | 0 | 21.07 | 73.13 | 0 | 19.08 | 57.95 | 0 | 14.95 | 56.05 | 0 | 4.35 | -8.03 | 0 | 2.93 | -10.94 | 0 | 0.19 | -42.42 | 0 | 26.21 | 27.29 | 0 | 54.15 | 9.73 | 0 | 110.00 | 4.76 | 0 | -10.00 | 0 | 0 | 25.36 | -22.71 | 0 |
| 20Q2 (6) | 53.95 | 0 | 0 | 12.17 | 0 | 0 | 12.08 | 0 | 0 | 9.58 | 0 | 0 | 4.73 | 0 | 0 | 3.29 | 0 | 0 | 0.33 | 0 | 0 | 20.59 | 0 | 0 | 49.35 | 0 | 0 | 105.00 | 0 | 0 | -0.00 | 0 | 0 | 32.81 | 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) | 57.30 | 13.08 | 17.11 | 44.14 | 5.40 | 0.41 | 17.31 | -0.57 | 13.79 | -1.15 | 10.28 | -16.76 | 7.07 | -22.65 | 0.49 | -23.44 | 23.84 | 0.55 | 69.16 | 131.92 | 98.92 | 43.44 | 1.08 | -96.66 | 1.27 | -11.15 | 34.22 | 10.35 |
| 2022 (9) | 50.67 | -3.72 | 11.87 | -33.43 | 5.38 | -12.87 | 17.41 | 4.56 | 13.95 | 1.97 | 12.35 | -18.59 | 9.14 | -9.42 | 0.64 | -12.33 | 23.71 | 0.21 | 29.82 | -36.9 | 68.97 | -35.79 | 32.18 | 0 | 1.43 | -21.41 | 31.01 | 17.33 |
| 2021 (8) | 52.63 | -3.4 | 17.83 | 10.68 | 6.17 | -4.56 | 16.65 | 11.22 | 13.68 | 1.71 | 15.17 | 2.09 | 10.09 | 2.54 | 0.73 | 1.39 | 23.66 | 5.67 | 47.26 | -19.1 | 107.41 | -0.85 | -7.41 | 0 | 1.82 | 12.21 | 26.43 | -13.0 |
| 2020 (7) | 54.48 | -1.98 | 16.11 | 790.06 | 6.47 | -11.42 | 14.97 | 835.62 | 13.45 | 784.87 | 14.86 | 1017.29 | 9.84 | 748.28 | 0.72 | 16.13 | 22.39 | 107.51 | 58.42 | 20.21 | 108.33 | -9.72 | -8.33 | 0 | 1.62 | 0 | 30.38 | -17.4 |
| 2019 (6) | 55.58 | -5.96 | 1.81 | -90.21 | 7.30 | 168.7 | 1.60 | -92.11 | 1.52 | -90.46 | 1.33 | -91.72 | 1.16 | -90.88 | 0.62 | -22.5 | 10.79 | -55.89 | 48.60 | 45.07 | 120.00 | 32.35 | -20.00 | 0 | 0.00 | 0 | 36.78 | 28.74 |
| 2018 (5) | 59.10 | -4.11 | 18.49 | -21.82 | 2.72 | -3.19 | 20.28 | -10.46 | 15.93 | -14.4 | 16.06 | 0 | 12.72 | 0 | 0.80 | 0 | 24.46 | -9.47 | 33.50 | 77.91 | 90.67 | -13.39 | 9.33 | 0 | 0.00 | 0 | 28.57 | -24.06 |
| 2017 (4) | 61.63 | 0 | 23.65 | 0 | 2.81 | 0 | 22.65 | 0 | 18.61 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 27.02 | 0 | 18.83 | 0 | 104.69 | 0 | -4.69 | 0 | 0.00 | 0 | 37.62 | 0 |
