- 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) | 23.75 | 10.21 | 5.04 | 7.05 | 65.11 | 1.73 | 8.33 | 65.61 | 15.06 | 6.86 | 69.38 | 18.28 | 5.39 | 79.07 | 8.89 | 2.49 | 81.75 | 16.9 | 0.36 | 9.09 | 0.0 | 11.52 | 31.81 | 10.03 | 116.27 | -4.84 | -15.72 | 84.95 | 0.75 | -11.98 | 15.05 | -4.03 | 223.66 | 14.05 | -1.68 | 7.75 |
| 23Q3 (19) | 21.55 | -6.87 | 7.21 | 4.27 | -17.41 | 32.61 | 5.03 | 0.4 | 27.66 | 4.05 | 0.5 | 23.85 | 3.01 | 6.74 | 19.92 | 1.37 | 7.03 | 25.69 | 0.33 | 6.45 | 0.0 | 8.74 | -1.02 | 11.76 | 122.19 | -2.52 | -8.51 | 84.31 | -18.99 | 4.75 | 15.69 | 484.31 | -8.12 | 14.29 | -5.49 | 0.28 |
| 23Q2 (18) | 23.14 | 14.22 | 10.66 | 5.17 | 38.61 | 20.51 | 5.01 | 39.17 | 17.33 | 4.03 | 39.93 | 14.16 | 2.82 | 34.29 | 11.46 | 1.28 | 34.74 | 14.29 | 0.31 | 0.0 | 0.0 | 8.83 | 22.64 | 11.63 | 125.35 | -2.53 | -7.62 | 104.08 | 1.41 | 4.08 | -4.08 | -55.1 | 0 | 15.12 | 6.7 | 8.08 |
| 23Q1 (17) | 20.26 | -10.39 | 10.59 | 3.73 | -46.18 | 15.84 | 3.60 | -50.28 | -19.64 | 2.88 | -50.34 | -19.78 | 2.10 | -57.58 | -24.73 | 0.95 | -55.4 | -24.6 | 0.31 | -13.89 | -11.43 | 7.20 | -31.23 | -6.37 | 128.60 | -6.78 | 6.88 | 102.63 | 6.34 | 42.54 | -2.63 | -156.58 | -109.4 | 14.17 | 8.67 | 7.51 |
| 22Q4 (16) | 22.61 | 12.49 | 11.11 | 6.93 | 115.22 | 9.31 | 7.24 | 83.76 | 6.47 | 5.80 | 77.37 | 7.21 | 4.95 | 97.21 | -5.71 | 2.13 | 95.41 | -9.36 | 0.36 | 9.09 | -16.28 | 10.47 | 33.89 | 11.03 | 137.96 | 3.3 | 9.49 | 96.51 | 19.91 | 3.32 | 4.65 | -72.76 | -29.46 | 13.04 | -8.49 | 11.17 |
| 22Q3 (15) | 20.10 | -3.87 | -1.23 | 3.22 | -24.94 | -35.21 | 3.94 | -7.73 | -22.59 | 3.27 | -7.37 | -19.66 | 2.51 | -0.79 | -22.05 | 1.09 | -2.68 | -30.13 | 0.33 | 6.45 | -13.16 | 7.82 | -1.14 | -5.44 | 133.55 | -1.58 | 9.54 | 80.49 | -19.51 | -18.02 | 17.07 | 0 | 839.02 | 14.25 | 1.86 | 8.86 |
| 22Q2 (14) | 20.91 | 14.14 | -4.04 | 4.29 | 33.23 | 15.01 | 4.27 | -4.69 | 18.28 | 3.53 | -1.67 | 18.46 | 2.53 | -9.32 | 37.5 | 1.12 | -11.11 | 17.89 | 0.31 | -11.43 | 0.0 | 7.91 | 2.86 | 8.5 | 135.69 | 12.77 | 44.69 | 100.00 | 38.89 | -3.12 | 0.00 | -100.0 | 100.0 | 13.99 | 6.15 | -7.84 |
| 22Q1 (13) | 18.32 | -9.98 | -13.34 | 3.22 | -49.21 | -26.48 | 4.48 | -34.12 | -2.4 | 3.59 | -33.64 | -1.91 | 2.79 | -46.86 | 6.08 | 1.26 | -46.38 | -4.55 | 0.35 | -18.6 | -2.78 | 7.69 | -18.45 | 0.79 | 120.32 | -4.51 | 21.89 | 72.00 | -22.92 | -24.65 | 28.00 | 324.67 | 530.0 | 13.18 | 12.36 | -8.73 |
| 21Q4 (12) | 20.35 | 0.0 | 10.0 | 6.34 | 27.57 | 82.18 | 6.80 | 33.6 | 56.68 | 5.41 | 32.92 | 55.91 | 5.25 | 63.04 | 88.85 | 2.35 | 50.64 | 70.29 | 0.43 | 13.16 | 7.5 | 9.43 | 14.03 | 35.1 | 126.00 | 3.35 | 21.14 | 93.41 | -4.86 | 18.65 | 6.59 | 262.64 | -65.57 | 11.73 | -10.39 | -4.94 |
| 21Q3 (11) | 20.35 | -6.61 | 19.57 | 4.97 | 33.24 | 61.89 | 5.09 | 41.0 | 32.55 | 4.07 | 36.58 | 31.72 | 3.22 | 75.0 | 16.67 | 1.56 | 64.21 | 18.18 | 0.38 | 22.58 | -9.52 | 8.27 | 13.44 | 38.06 | 121.92 | 30.01 | 19.31 | 98.18 | -4.89 | 22.73 | 1.82 | 156.36 | -90.91 | 13.09 | -13.77 | 13.14 |
| 21Q2 (10) | 21.79 | 3.07 | 11.46 | 3.73 | -14.84 | -17.29 | 3.61 | -21.35 | -28.09 | 2.98 | -18.58 | -27.67 | 1.84 | -30.04 | -46.04 | 0.95 | -28.03 | -42.07 | 0.31 | -13.89 | -22.5 | 7.29 | -4.46 | -3.32 | 93.78 | -4.99 | -21.25 | 103.23 | 8.03 | 15.87 | -3.23 | -172.58 | -129.57 | 15.18 | 5.12 | 0 |
| 21Q1 (9) | 21.14 | 14.27 | 2.67 | 4.38 | 25.86 | 20.33 | 4.59 | 5.76 | 33.82 | 3.66 | 5.48 | 28.87 | 2.63 | -5.4 | 28.92 | 1.32 | -4.35 | 36.08 | 0.36 | -10.0 | 5.88 | 7.63 | 9.31 | 19.22 | 98.71 | -5.1 | 0.0 | 95.56 | 21.38 | -9.9 | 4.44 | -76.79 | 173.33 | 14.44 | 17.02 | 1.12 |
| 20Q4 (8) | 18.50 | 8.7 | -4.05 | 3.48 | 13.36 | -17.92 | 4.34 | 13.02 | 13.02 | 3.47 | 12.3 | 13.03 | 2.78 | 0.72 | -7.64 | 1.38 | 4.55 | 6.15 | 0.40 | -4.76 | -2.44 | 6.98 | 16.53 | 6.4 | 104.01 | 1.78 | -18.67 | 78.72 | -1.6 | -27.84 | 19.15 | -4.26 | 268.51 | 12.34 | 6.66 | 0.82 |
| 20Q3 (7) | 17.02 | -12.94 | -7.75 | 3.07 | -31.93 | 16.29 | 3.84 | -23.51 | 60.67 | 3.09 | -25.0 | 69.78 | 2.76 | -19.06 | 43.75 | 1.32 | -19.51 | 59.04 | 0.42 | 5.0 | -4.55 | 5.99 | -20.56 | 13.66 | 102.19 | -14.18 | -30.88 | 80.00 | -10.2 | -28.57 | 20.00 | 83.33 | 266.67 | 11.57 | 0 | -9.18 |
| 20Q2 (6) | 19.55 | -5.05 | -4.45 | 4.51 | 23.9 | 48.36 | 5.02 | 46.36 | 63.52 | 4.12 | 45.07 | 61.57 | 3.41 | 67.16 | 47.62 | 1.64 | 69.07 | 57.69 | 0.40 | 17.65 | 2.56 | 7.54 | 17.81 | 16.0 | 119.08 | 20.64 | -10.05 | 89.09 | -16.0 | -10.91 | 10.91 | 280.0 | 0 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 20.59 | 6.79 | -1.06 | 3.64 | -14.15 | 15.92 | 3.43 | -10.68 | 9.24 | 2.84 | -7.49 | 13.6 | 2.04 | -32.23 | -11.3 | 0.97 | -25.38 | -2.02 | 0.34 | -17.07 | -10.53 | 6.40 | -2.44 | -0.47 | 98.71 | -22.82 | -24.82 | 106.06 | -2.78 | 6.06 | -6.06 | 46.67 | 0 | 14.28 | 16.67 | -1.99 |
| 19Q4 (4) | 19.28 | 4.5 | 0.0 | 4.24 | 60.61 | 0.0 | 3.84 | 60.67 | 0.0 | 3.07 | 68.68 | 0.0 | 3.01 | 56.77 | 0.0 | 1.30 | 56.63 | 0.0 | 0.41 | -6.82 | 0.0 | 6.56 | 24.48 | 0.0 | 127.89 | -13.49 | 0.0 | 109.09 | -2.6 | 0.0 | -11.36 | 5.3 | 0.0 | 12.24 | -3.92 | 0.0 |
| 19Q3 (3) | 18.45 | -9.82 | 0.0 | 2.64 | -13.16 | 0.0 | 2.39 | -22.15 | 0.0 | 1.82 | -28.63 | 0.0 | 1.92 | -16.88 | 0.0 | 0.83 | -20.19 | 0.0 | 0.44 | 12.82 | 0.0 | 5.27 | -18.92 | 0.0 | 147.84 | 11.67 | 0.0 | 112.00 | 12.0 | 0.0 | -12.00 | 0 | 0.0 | 12.74 | -9.0 | 0.0 |
| 19Q2 (2) | 20.46 | -1.68 | 0.0 | 3.04 | -3.18 | 0.0 | 3.07 | -2.23 | 0.0 | 2.55 | 2.0 | 0.0 | 2.31 | 0.43 | 0.0 | 1.04 | 5.05 | 0.0 | 0.39 | 2.63 | 0.0 | 6.50 | 1.09 | 0.0 | 132.39 | 0.83 | 0.0 | 100.00 | 0.0 | 0.0 | 0.00 | 0 | 0.0 | 14.00 | -3.91 | 0.0 |
| 19Q1 (1) | 20.81 | 0.0 | 0.0 | 3.14 | 0.0 | 0.0 | 3.14 | 0.0 | 0.0 | 2.50 | 0.0 | 0.0 | 2.30 | 0.0 | 0.0 | 0.99 | 0.0 | 0.0 | 0.38 | 0.0 | 0.0 | 6.43 | 0.0 | 0.0 | 131.30 | 0.0 | 0.0 | 100.00 | 0.0 | 0.0 | -0.00 | 0.0 | 0.0 | 14.57 | 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) | 22.19 | 8.14 | 5.09 | 13.62 | 3.30 | -0.34 | 5.55 | 9.68 | 4.50 | 9.49 | 12.98 | 3.59 | 5.86 | 7.13 | 1.27 | -3.79 | 9.11 | 6.8 | 116.27 | -15.72 | 91.81 | 3.58 | 8.19 | -27.93 | 0.19 | 7.54 | 14.39 | 5.96 |
| 2022 (9) | 20.52 | -1.44 | 4.48 | -10.58 | 3.31 | 11.43 | 5.06 | -2.88 | 4.11 | -1.44 | 12.53 | -2.79 | 5.47 | -9.29 | 1.32 | -7.69 | 8.53 | 2.9 | 137.96 | 9.49 | 88.64 | -7.64 | 11.36 | 216.76 | 0.18 | -29.64 | 13.58 | 1.34 |
| 2021 (8) | 20.82 | 10.57 | 5.01 | 36.51 | 2.97 | 23.71 | 5.21 | 24.94 | 4.17 | 23.01 | 12.89 | 18.15 | 6.03 | 18.24 | 1.43 | -4.03 | 8.29 | 23.36 | 126.00 | 21.14 | 95.96 | 9.41 | 3.59 | -70.81 | 0.25 | 129.98 | 13.40 | 5.51 |
| 2020 (7) | 18.83 | -4.27 | 3.67 | 11.21 | 2.40 | -11.19 | 4.17 | 33.23 | 3.39 | 36.14 | 10.91 | 24.83 | 5.10 | 34.21 | 1.49 | 1.36 | 6.72 | 9.09 | 104.01 | -18.67 | 87.71 | -16.91 | 12.29 | 0 | 0.11 | -18.66 | 12.70 | -4.51 |
| 2019 (6) | 19.67 | -0.51 | 3.30 | 37.5 | 2.71 | -0.84 | 3.13 | 27.76 | 2.49 | 21.46 | 8.74 | 15.46 | 3.80 | 8.57 | 1.47 | -11.98 | 6.16 | 11.8 | 127.89 | -15.93 | 105.56 | 6.74 | -5.56 | 0 | 0.13 | -66.75 | 13.30 | 1.14 |
| 2018 (5) | 19.77 | -8.68 | 2.40 | -38.93 | 2.73 | 13.02 | 2.45 | -37.34 | 2.05 | -37.88 | 7.57 | -36.65 | 3.50 | -41.96 | 1.67 | -7.73 | 5.51 | -16.26 | 152.12 | 68.76 | 98.89 | -1.81 | 2.22 | 0 | 0.40 | 0 | 13.15 | -6.41 |
| 2017 (4) | 21.65 | 8.47 | 3.93 | 45.02 | 2.41 | 33.0 | 3.91 | 29.04 | 3.30 | 31.47 | 11.95 | 33.22 | 6.03 | 41.55 | 1.81 | 7.74 | 6.58 | 28.27 | 90.14 | -18.8 | 100.71 | 12.49 | -0.71 | 0 | 0.00 | 0 | 14.05 | 1.89 |
| 2016 (3) | 19.96 | -2.2 | 2.71 | -7.82 | 1.82 | 42.1 | 3.03 | 0.0 | 2.51 | -0.4 | 8.97 | 3.58 | 4.26 | -0.23 | 1.68 | 1.2 | 5.13 | 11.52 | 111.01 | -4.41 | 89.52 | -7.89 | 10.48 | 273.65 | 0.00 | 0 | 13.79 | -0.51 |
| 2015 (2) | 20.41 | 3.39 | 2.94 | -15.27 | 1.28 | 0.53 | 3.03 | -18.33 | 2.52 | -20.75 | 8.66 | -19.14 | 4.27 | -20.63 | 1.66 | -1.19 | 4.60 | -9.45 | 116.13 | 17.02 | 97.20 | 4.49 | 2.80 | -54.79 | 0.00 | 0 | 13.86 | 6.21 |
| 2014 (1) | 19.74 | 0 | 3.47 | 0 | 1.27 | 2.91 | 3.71 | 0 | 3.18 | 0 | 10.71 | 0 | 5.38 | 0 | 1.68 | -5.08 | 5.08 | -7.64 | 99.24 | -2.51 | 93.02 | 41.1 | 6.20 | -82.19 | 0.00 | 0 | 13.05 | 2.92 |
