- 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) | 14.21 | -7.91 | 9.81 | 3.62 | -22.81 | -1.36 | 2.71 | -37.84 | 4.23 | 2.13 | -32.17 | -0.93 | 0.91 | -41.67 | -9.9 | 0.66 | -32.65 | 4.76 | 0.23 | -8.0 | 0.0 | 7.34 | -15.05 | -0.94 | 84.07 | -8.16 | -17.27 | 134.00 | 24.43 | -4.55 | -34.00 | -342.0 | 15.81 | 13.26 | -0.08 | 10.13 |
| 23Q3 (19) | 15.43 | -2.16 | 30.98 | 4.69 | -2.7 | 71.17 | 4.36 | -42.4 | -3.75 | 3.14 | -45.2 | 1.62 | 1.56 | -42.86 | -2.5 | 0.98 | -36.77 | 12.64 | 0.25 | 4.17 | 4.17 | 8.64 | -27.52 | -3.89 | 91.54 | -9.92 | -15.51 | 107.69 | 69.56 | 75.9 | -7.69 | -121.08 | -119.33 | 13.27 | -7.01 | 11.98 |
| 23Q2 (18) | 15.77 | 62.91 | 14.52 | 4.82 | 788.57 | 20.2 | 7.57 | 9362.5 | 24.51 | 5.73 | 2022.22 | 32.03 | 2.73 | 2630.0 | 15.19 | 1.55 | 675.0 | 33.62 | 0.24 | 20.0 | -4.0 | 11.92 | 123.64 | 18.49 | 101.62 | 9.12 | -19.66 | 63.51 | 105.77 | -3.38 | 36.49 | -97.19 | 6.48 | 14.27 | -0.07 | 9.52 |
| 23Q1 (17) | 9.68 | -25.19 | -24.02 | -0.70 | -119.07 | -115.52 | 0.08 | -96.92 | -98.36 | 0.27 | -87.44 | -90.04 | 0.10 | -90.1 | -93.98 | 0.20 | -68.25 | -75.31 | 0.20 | -13.04 | -28.57 | 5.33 | -28.07 | -35.32 | 93.13 | -8.35 | -20.27 | -1100.00 | -883.56 | -1291.67 | 1300.00 | 3319.05 | 16800.0 | 14.28 | 18.6 | 28.42 |
| 22Q4 (16) | 12.94 | 9.85 | 15.54 | 3.67 | 33.94 | 22.33 | 2.60 | -42.6 | -82.2 | 2.15 | -30.42 | -75.26 | 1.01 | -36.88 | -82.82 | 0.63 | -27.59 | -76.32 | 0.23 | -4.17 | -23.33 | 7.41 | -17.58 | -56.89 | 101.62 | -6.2 | -17.87 | 140.38 | 129.29 | 586.7 | -40.38 | -201.48 | -150.76 | 12.04 | 1.6 | 0.5 |
| 22Q3 (15) | 11.78 | -14.45 | -2.97 | 2.74 | -31.67 | -33.98 | 4.53 | -25.49 | 0.22 | 3.09 | -28.8 | -1.9 | 1.60 | -32.49 | -27.93 | 0.87 | -25.0 | -16.35 | 0.24 | -4.0 | -22.58 | 8.99 | -10.64 | 14.52 | 108.34 | -14.34 | -15.87 | 61.22 | -6.86 | -33.02 | 39.80 | 16.14 | 409.39 | 11.85 | -9.06 | 12.0 |
| 22Q2 (14) | 13.77 | 8.08 | 39.09 | 4.01 | -11.09 | 46.89 | 6.08 | 24.85 | 221.69 | 4.34 | 60.15 | 393.18 | 2.37 | 42.77 | 308.62 | 1.16 | 43.21 | 262.5 | 0.25 | -10.71 | -13.79 | 10.06 | 22.09 | 87.34 | 126.48 | 8.28 | 3.3 | 65.73 | -28.79 | -54.98 | 34.27 | 345.45 | 177.88 | 13.03 | 17.18 | 40.86 |
| 22Q1 (13) | 12.74 | 13.75 | 5.12 | 4.51 | 50.33 | 25.98 | 4.87 | -66.67 | 0.83 | 2.71 | -68.81 | -29.43 | 1.66 | -71.77 | -35.16 | 0.81 | -69.55 | -33.61 | 0.28 | -6.67 | -6.67 | 8.24 | -52.07 | -0.6 | 116.81 | -5.59 | -5.84 | 92.31 | 351.53 | 23.71 | 7.69 | -90.33 | -70.59 | 11.12 | -7.18 | 2.3 |
| 21Q4 (12) | 11.20 | -7.74 | 6.87 | 3.00 | -27.71 | 23.97 | 14.61 | 223.23 | 249.52 | 8.69 | 175.87 | 190.64 | 5.88 | 164.86 | 180.0 | 2.66 | 155.77 | 166.0 | 0.30 | -3.23 | -6.25 | 17.19 | 118.98 | 121.24 | 123.73 | -3.92 | 3.55 | 20.44 | -77.63 | -64.91 | 79.56 | 918.33 | 90.6 | 11.98 | 13.23 | 20.4 |
| 21Q3 (11) | 12.14 | 22.63 | 12.51 | 4.15 | 52.01 | 31.33 | 4.52 | 139.15 | 37.39 | 3.15 | 257.95 | 23.05 | 2.22 | 282.76 | 13.85 | 1.04 | 225.0 | 9.47 | 0.31 | 6.9 | -11.43 | 7.85 | 46.18 | 17.87 | 128.78 | 5.18 | 3.17 | 91.41 | -37.39 | -5.61 | 7.81 | 117.76 | 85.55 | 10.58 | 14.38 | 22.74 |
| 21Q2 (10) | 9.90 | -18.32 | -9.17 | 2.73 | -23.74 | -6.83 | 1.89 | -60.87 | -37.83 | 0.88 | -77.08 | -56.22 | 0.58 | -77.34 | -56.06 | 0.32 | -73.77 | -55.56 | 0.29 | -3.33 | -6.45 | 5.37 | -35.22 | -21.38 | 122.44 | -1.31 | 5.32 | 146.00 | 95.67 | 52.0 | -44.00 | -268.24 | -1214.67 | 9.25 | -14.9 | -8.42 |
| 21Q1 (9) | 12.12 | 15.65 | 16.99 | 3.58 | 47.93 | 115.66 | 4.83 | 15.55 | 116.59 | 3.84 | 28.43 | 128.57 | 2.56 | 21.9 | 169.47 | 1.22 | 22.0 | 114.04 | 0.30 | -6.25 | 11.11 | 8.29 | 6.69 | 31.38 | 124.06 | 3.82 | 16.58 | 74.62 | 28.07 | -0.51 | 26.15 | -37.34 | 4.62 | 10.87 | 9.25 | -3.63 |
| 20Q4 (8) | 10.48 | -2.87 | -19.07 | 2.42 | -23.42 | -45.12 | 4.18 | 27.05 | 9.14 | 2.99 | 16.8 | -3.55 | 2.10 | 7.69 | 0.0 | 1.00 | 5.26 | -9.09 | 0.32 | -8.57 | 3.23 | 7.77 | 16.67 | 4.72 | 119.49 | -4.27 | 4.31 | 58.26 | -39.84 | -49.34 | 41.74 | 891.3 | 378.26 | 9.95 | 15.43 | -30.66 |
| 20Q3 (7) | 10.79 | -1.01 | -16.81 | 3.16 | 7.85 | -37.67 | 3.29 | 8.22 | -33.54 | 2.56 | 27.36 | -45.53 | 1.95 | 47.73 | -38.29 | 0.95 | 31.94 | -39.1 | 0.35 | 12.9 | 12.9 | 6.66 | -2.49 | -23.45 | 124.82 | 7.36 | 9.12 | 96.84 | 0.82 | -5.36 | 4.21 | 6.67 | 281.05 | 8.62 | -14.65 | -21.42 |
| 20Q2 (6) | 10.90 | 5.21 | 14.86 | 2.93 | 76.51 | 154.78 | 3.04 | 36.32 | 23.58 | 2.01 | 19.64 | 27.22 | 1.32 | 38.95 | 28.16 | 0.72 | 26.32 | 18.03 | 0.31 | 14.81 | 3.33 | 6.83 | 8.24 | 7.22 | 116.26 | 9.25 | -7.75 | 96.05 | 28.07 | 105.35 | 3.95 | -84.21 | -92.58 | 10.10 | -10.46 | -6.74 |
| 20Q1 (5) | 10.36 | -20.0 | 3.08 | 1.66 | -62.36 | 52.29 | 2.23 | -41.78 | 182.28 | 1.68 | -45.81 | 273.33 | 0.95 | -54.76 | 280.0 | 0.57 | -48.18 | 128.0 | 0.27 | -12.9 | 8.0 | 6.31 | -14.96 | 17.72 | 106.42 | -7.1 | -8.3 | 75.00 | -34.78 | -47.83 | 25.00 | 266.67 | 166.67 | 11.28 | -21.39 | -0.09 |
| 19Q4 (4) | 12.95 | -0.15 | 0.0 | 4.41 | -13.02 | 0.0 | 3.83 | -22.63 | 0.0 | 3.10 | -34.04 | 0.0 | 2.10 | -33.54 | 0.0 | 1.10 | -29.49 | 0.0 | 0.31 | 0.0 | 0.0 | 7.42 | -14.71 | 0.0 | 114.55 | 0.14 | 0.0 | 115.00 | 12.39 | 0.0 | -15.00 | -545.0 | 0.0 | 14.35 | 30.81 | 0.0 |
| 19Q3 (3) | 12.97 | 36.67 | 0.0 | 5.07 | 340.87 | 0.0 | 4.95 | 101.22 | 0.0 | 4.70 | 197.47 | 0.0 | 3.16 | 206.8 | 0.0 | 1.56 | 155.74 | 0.0 | 0.31 | 3.33 | 0.0 | 8.70 | 36.58 | 0.0 | 114.39 | -9.24 | 0.0 | 102.33 | 118.77 | 0.0 | -2.33 | -104.37 | 0.0 | 10.97 | 1.29 | 0.0 |
| 19Q2 (2) | 9.49 | -5.57 | 0.0 | 1.15 | 5.5 | 0.0 | 2.46 | 211.39 | 0.0 | 1.58 | 251.11 | 0.0 | 1.03 | 312.0 | 0.0 | 0.61 | 144.0 | 0.0 | 0.30 | 20.0 | 0.0 | 6.37 | 18.84 | 0.0 | 126.03 | 8.6 | 0.0 | 46.77 | -67.46 | 0.0 | 53.23 | 241.94 | 0.0 | 10.83 | -4.07 | 0.0 |
| 19Q1 (1) | 10.05 | 0.0 | 0.0 | 1.09 | 0.0 | 0.0 | 0.79 | 0.0 | 0.0 | 0.45 | 0.0 | 0.0 | 0.25 | 0.0 | 0.0 | 0.25 | 0.0 | 0.0 | 0.25 | 0.0 | 0.0 | 5.36 | 0.0 | 0.0 | 116.05 | 0.0 | 0.0 | 143.75 | 0.0 | 0.0 | -37.50 | 0.0 | 0.0 | 11.29 | 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) | 13.98 | 9.05 | 3.30 | -12.7 | 3.27 | 1.86 | 3.87 | -16.05 | 2.95 | -4.53 | 5.18 | -22.57 | 3.36 | -5.62 | 0.91 | -10.78 | 8.46 | -2.76 | 84.07 | -17.27 | 85.22 | 3.89 | 14.78 | -17.76 | 0.50 | 95.57 | 13.74 | 14.69 |
| 2022 (9) | 12.82 | 12.95 | 3.78 | 12.17 | 3.21 | 20.26 | 4.61 | -29.19 | 3.09 | -25.9 | 6.69 | -39.62 | 3.56 | -31.93 | 1.02 | -15.0 | 8.70 | -10.59 | 101.62 | -17.87 | 82.03 | 58.3 | 17.97 | -62.71 | 0.26 | -1.81 | 11.98 | 12.17 |
| 2021 (8) | 11.35 | 6.67 | 3.37 | 30.12 | 2.67 | -10.57 | 6.51 | 100.93 | 4.17 | 76.69 | 11.08 | 79.0 | 5.23 | 64.98 | 1.20 | -0.83 | 9.73 | 40.61 | 123.73 | 3.55 | 51.82 | -35.18 | 48.18 | 140.18 | 0.26 | 21.41 | 10.68 | 7.99 |
| 2020 (7) | 10.64 | -7.07 | 2.59 | -14.8 | 2.99 | -0.65 | 3.24 | 3.51 | 2.36 | -8.17 | 6.19 | -6.07 | 3.17 | -12.43 | 1.21 | 1.68 | 6.92 | -1.7 | 119.49 | 4.31 | 79.94 | -17.92 | 20.06 | 669.8 | 0.22 | 78.99 | 9.89 | -16.89 |
| 2019 (6) | 11.45 | 6.91 | 3.04 | 473.58 | 3.01 | -15.27 | 3.13 | 37.89 | 2.57 | 25.98 | 6.59 | 56.16 | 3.62 | 47.15 | 1.19 | 23.96 | 7.04 | 0.14 | 114.55 | -0.66 | 97.39 | 318.08 | 2.61 | -96.6 | 0.12 | -52.94 | 11.90 | -7.68 |
| 2018 (5) | 10.71 | 14.3 | 0.53 | 783.33 | 3.55 | 20.15 | 2.27 | 191.03 | 2.04 | 218.75 | 4.22 | 199.29 | 2.46 | 125.69 | 0.96 | -4.0 | 7.03 | 49.89 | 115.31 | 1.9 | 23.30 | 198.18 | 76.70 | -16.8 | 0.26 | 0 | 12.89 | 10.74 |
| 2017 (4) | 9.37 | 36.99 | 0.06 | 0 | 2.95 | -7.57 | 0.78 | 0 | 0.64 | 0 | 1.41 | 0 | 1.09 | 0 | 1.00 | 2.04 | 4.69 | 0 | 113.16 | -11.68 | 7.81 | -66.49 | 92.19 | 20.44 | 0.00 | 0 | 11.64 | -2.02 |
| 2016 (3) | 6.84 | -31.26 | -1.79 | 0 | 3.19 | -0.22 | -7.64 | 0 | -7.53 | 0 | -15.93 | 0 | -7.03 | 0 | 0.98 | 4.26 | -3.50 | 0 | 128.12 | 20.66 | 23.31 | -90.98 | 76.54 | 0 | 0.00 | 0 | 11.88 | 4.85 |
| 2015 (2) | 9.95 | -15.17 | 1.29 | -59.81 | 3.20 | 31.93 | 0.49 | -81.37 | 0.09 | -94.61 | 0.18 | -95.8 | 0.44 | -82.11 | 0.94 | -16.81 | 4.64 | -22.92 | 106.18 | -11.77 | 258.33 | 111.66 | -158.33 | 0 | 0.00 | 0 | 11.33 | 6.38 |
| 2014 (1) | 11.73 | 0 | 3.21 | 0 | 2.43 | -12.18 | 2.63 | 0 | 1.67 | 0 | 4.29 | 0 | 2.46 | 0 | 1.13 | 11.88 | 6.02 | 12.73 | 120.35 | -10.29 | 122.05 | 51.69 | -22.36 | 0 | 0.00 | 0 | 10.65 | -0.75 |
