- 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) | 15.96 | 13.68 | -52.03 | 8.39 | 19.52 | -69.8 | 11.97 | 62.42 | -56.39 | 9.59 | 67.95 | -62.21 | 2.68 | 72.9 | -78.66 | 2.02 | 71.19 | -77.35 | 0.21 | 5.0 | -40.0 | 16.19 | 37.32 | -45.1 | 36.43 | 3.64 | -8.93 | 70.54 | -25.54 | -30.29 | 30.23 | 474.42 | 2617.94 | 25.60 | 1.99 | 37.12 |
| 23Q3 (19) | 14.04 | -12.96 | -40.71 | 7.02 | 1.74 | -59.35 | 7.37 | -58.94 | -69.58 | 5.71 | -62.36 | -73.64 | 1.55 | -61.63 | -84.02 | 1.18 | -55.13 | -80.27 | 0.20 | 17.65 | -28.57 | 11.79 | -48.08 | -55.74 | 35.15 | -6.89 | -17.58 | 94.74 | 146.89 | 32.95 | 5.26 | -91.46 | -81.69 | 25.10 | -9.84 | 20.27 |
| 23Q2 (18) | 16.13 | -16.98 | -47.36 | 6.90 | -41.43 | -72.79 | 17.95 | 41.34 | -38.38 | 15.17 | 100.13 | -43.03 | 4.04 | 65.57 | -78.91 | 2.63 | 64.37 | -73.22 | 0.17 | -19.05 | -54.05 | 22.71 | 40.71 | -26.84 | 37.75 | -49.82 | -55.86 | 38.37 | -58.62 | -55.93 | 61.63 | 747.38 | 376.92 | 27.84 | 24.62 | 53.81 |
| 23Q1 (17) | 19.43 | -41.6 | -24.43 | 11.78 | -57.6 | -40.05 | 12.70 | -53.73 | -39.26 | 7.58 | -70.13 | -55.65 | 2.44 | -80.57 | -69.04 | 1.60 | -82.06 | -63.96 | 0.21 | -40.0 | -19.23 | 16.14 | -45.27 | -31.58 | 75.23 | 88.08 | -30.86 | 92.73 | -8.37 | -1.42 | 7.27 | 705.71 | 22.49 | 22.34 | 19.66 | 0.77 |
| 22Q4 (16) | 33.27 | 40.5 | 12.4 | 27.78 | 60.86 | 16.58 | 27.45 | 13.29 | 21.3 | 25.38 | 17.17 | 40.53 | 12.56 | 29.48 | 13.56 | 8.92 | 49.16 | 27.07 | 0.35 | 25.0 | -10.26 | 29.49 | 10.7 | 20.37 | 40.00 | -6.21 | -26.85 | 101.20 | 42.02 | -3.96 | -1.20 | -104.18 | 77.65 | 18.67 | -10.54 | 0.86 |
| 22Q3 (15) | 23.68 | -22.72 | -28.93 | 17.27 | -31.9 | -36.18 | 24.23 | -16.82 | -13.15 | 21.66 | -18.66 | -2.96 | 9.70 | -49.37 | -41.81 | 5.98 | -39.1 | -39.23 | 0.28 | -24.32 | -36.36 | 26.64 | -14.18 | -9.73 | 42.65 | -50.13 | -31.18 | 71.26 | -18.17 | -26.54 | 28.74 | 122.44 | 859.14 | 20.87 | 15.3 | 21.83 |
| 22Q2 (14) | 30.64 | 19.18 | -4.28 | 25.36 | 29.06 | -1.78 | 29.13 | 39.31 | 16.33 | 26.63 | 55.82 | 16.09 | 19.16 | 143.15 | 13.84 | 9.82 | 121.17 | -2.39 | 0.37 | 42.31 | -15.91 | 31.04 | 31.58 | 16.08 | 85.52 | -21.4 | 7.09 | 87.08 | -7.43 | -15.56 | 12.92 | 117.64 | 513.51 | 18.10 | -18.36 | 3.96 |
| 22Q1 (13) | 25.71 | -13.14 | -17.28 | 19.65 | -17.54 | -19.0 | 20.91 | -7.6 | -15.58 | 17.09 | -5.37 | -24.88 | 7.88 | -28.75 | -35.62 | 4.44 | -36.75 | -43.94 | 0.26 | -33.33 | -23.53 | 23.59 | -3.71 | -13.34 | 108.81 | 98.99 | 94.55 | 94.06 | -10.73 | -4.03 | 5.94 | 210.53 | 198.57 | 22.17 | 19.77 | 2.5 |
| 21Q4 (12) | 29.60 | -11.16 | 22.92 | 23.83 | -11.94 | 47.01 | 22.63 | -18.89 | 54.16 | 18.06 | -19.09 | 45.76 | 11.06 | -33.65 | 76.11 | 7.02 | -28.66 | 69.57 | 0.39 | -11.36 | 21.88 | 24.50 | -16.98 | 39.2 | 54.68 | -11.76 | -0.71 | 105.37 | 8.63 | -4.69 | -5.37 | -279.25 | 49.11 | 18.51 | 8.06 | -20.04 |
| 21Q3 (11) | 33.32 | 4.09 | 15.17 | 27.06 | 4.8 | 30.03 | 27.90 | 11.42 | 36.9 | 22.32 | -2.7 | 20.06 | 16.67 | -0.95 | 76.78 | 9.84 | -2.19 | 58.2 | 0.44 | 0.0 | 33.33 | 29.51 | 10.36 | 27.31 | 61.97 | -22.4 | 19.04 | 97.00 | -5.94 | -5.01 | 3.00 | 195.9 | 241.45 | 17.13 | -1.61 | -17.56 |
| 21Q2 (10) | 32.01 | 2.99 | 8.99 | 25.82 | 6.43 | 28.08 | 25.04 | 1.09 | 20.38 | 22.94 | 0.84 | 53.14 | 16.83 | 37.5 | 150.82 | 10.06 | 27.02 | 122.57 | 0.44 | 29.41 | 83.33 | 26.74 | -1.76 | 6.07 | 79.86 | 42.79 | 47.67 | 103.12 | 5.22 | 6.85 | -3.12 | -257.14 | -207.5 | 17.41 | -19.51 | 0 |
| 21Q1 (9) | 31.08 | 29.07 | 48.71 | 24.26 | 49.66 | 129.73 | 24.77 | 68.73 | 90.1 | 22.75 | 83.62 | 1392.61 | 12.24 | 94.9 | 248.72 | 7.92 | 91.3 | 227.27 | 0.34 | 6.25 | 70.0 | 27.22 | 54.66 | 48.42 | 55.93 | 1.56 | 18.77 | 98.01 | -11.35 | 20.92 | 1.99 | 118.84 | -89.5 | 21.63 | -6.57 | 0 |
| 20Q4 (8) | 24.08 | -16.76 | 23.42 | 16.21 | -22.1 | 65.41 | 14.68 | -27.97 | 70.9 | 12.39 | -33.35 | 71.37 | 6.28 | -33.4 | 126.71 | 4.14 | -33.44 | 113.4 | 0.32 | -3.03 | 23.08 | 17.60 | -24.07 | 36.43 | 55.07 | 5.78 | 8.71 | 110.56 | 8.26 | -2.66 | -10.56 | -398.22 | 22.27 | 23.15 | 11.41 | -16.0 |
| 20Q3 (7) | 28.93 | -1.5 | 52.91 | 20.81 | 3.22 | 122.09 | 20.38 | -2.02 | 77.99 | 18.59 | 24.1 | 76.71 | 9.43 | 40.54 | 114.32 | 6.22 | 37.61 | 106.64 | 0.33 | 37.5 | 17.86 | 23.18 | -8.05 | 47.27 | 52.06 | -3.74 | 12.37 | 102.12 | 5.81 | 24.69 | -2.12 | -172.88 | -111.7 | 20.78 | 0 | -17.87 |
| 20Q2 (6) | 29.37 | 40.53 | 6.57 | 20.16 | 90.91 | 10.95 | 20.80 | 59.63 | 6.07 | 14.98 | 951.14 | -21.53 | 6.71 | 91.17 | -26.99 | 4.52 | 86.78 | -25.54 | 0.24 | 20.0 | -22.58 | 25.21 | 37.46 | 7.87 | 54.08 | 14.84 | 0.8 | 96.51 | 19.07 | 4.08 | 2.91 | -84.66 | -60.03 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 20.90 | 7.12 | -10.91 | 10.56 | 7.76 | -7.77 | 13.03 | 51.69 | 8.22 | -1.76 | -124.34 | -115.22 | 3.51 | 26.71 | -20.77 | 2.42 | 24.74 | -20.92 | 0.20 | -23.08 | -23.08 | 18.34 | 42.17 | 9.17 | 47.09 | -7.05 | -10.76 | 81.05 | -28.64 | -14.77 | 18.95 | 239.52 | 286.53 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 19.51 | 3.12 | 0.0 | 9.80 | 4.59 | 0.0 | 8.59 | -24.98 | 0.0 | 7.23 | -31.27 | 0.0 | 2.77 | -37.05 | 0.0 | 1.94 | -35.55 | 0.0 | 0.26 | -7.14 | 0.0 | 12.90 | -18.04 | 0.0 | 50.66 | 9.35 | 0.0 | 113.58 | 38.69 | 0.0 | -13.58 | -175.01 | 0.0 | 27.56 | 8.93 | 0.0 |
| 19Q3 (3) | 18.92 | -31.35 | 0.0 | 9.37 | -48.43 | 0.0 | 11.45 | -41.61 | 0.0 | 10.52 | -44.89 | 0.0 | 4.40 | -52.12 | 0.0 | 3.01 | -50.41 | 0.0 | 0.28 | -9.68 | 0.0 | 15.74 | -32.65 | 0.0 | 46.33 | -13.64 | 0.0 | 81.90 | -11.68 | 0.0 | 18.10 | 148.92 | 0.0 | 25.30 | 1.16 | 0.0 |
| 19Q2 (2) | 27.56 | 17.48 | 0.0 | 18.17 | 58.69 | 0.0 | 19.61 | 62.87 | 0.0 | 19.09 | 65.14 | 0.0 | 9.19 | 107.45 | 0.0 | 6.07 | 98.37 | 0.0 | 0.31 | 19.23 | 0.0 | 23.37 | 39.11 | 0.0 | 53.65 | 1.67 | 0.0 | 92.73 | -2.49 | 0.0 | 7.27 | 48.36 | 0.0 | 25.01 | -10.2 | 0.0 |
| 19Q1 (1) | 23.46 | 0.0 | 0.0 | 11.45 | 0.0 | 0.0 | 12.04 | 0.0 | 0.0 | 11.56 | 0.0 | 0.0 | 4.43 | 0.0 | 0.0 | 3.06 | 0.0 | 0.0 | 0.26 | 0.0 | 0.0 | 16.80 | 0.0 | 0.0 | 52.77 | 0.0 | 0.0 | 95.10 | 0.0 | 0.0 | 4.90 | 0.0 | 0.0 | 27.85 | 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) | 16.58 | -42.51 | 8.75 | -62.12 | 3.80 | 84.04 | 12.42 | -52.12 | 9.31 | -60.03 | 9.74 | -77.68 | 7.20 | -75.9 | 0.76 | -40.62 | 16.55 | -41.23 | 36.43 | -8.93 | 70.35 | -20.95 | 29.47 | 168.83 | 0.73 | 12.4 | 25.01 | 27.08 |
| 2022 (9) | 28.84 | -8.65 | 23.10 | -8.91 | 2.06 | 20.53 | 25.94 | 3.1 | 23.29 | 8.83 | 43.64 | -19.19 | 29.88 | -14.7 | 1.28 | -21.47 | 28.16 | 4.22 | 40.00 | -26.85 | 88.99 | -11.68 | 10.96 | 0 | 0.65 | -11.78 | 19.68 | 7.01 |
| 2021 (8) | 31.57 | 21.28 | 25.36 | 46.17 | 1.71 | -48.56 | 25.16 | 45.18 | 21.40 | 76.13 | 54.00 | 120.05 | 35.03 | 115.44 | 1.63 | 58.25 | 27.02 | 28.79 | 54.68 | -0.71 | 100.76 | 0.76 | -0.76 | 0 | 0.73 | -33.69 | 18.39 | -21.38 |
| 2020 (7) | 26.03 | 15.59 | 17.35 | 39.47 | 3.33 | -14.64 | 17.33 | 30.99 | 12.15 | -2.1 | 24.54 | 16.08 | 16.26 | 11.37 | 1.03 | -10.43 | 20.98 | 20.09 | 55.07 | 8.71 | 100.00 | 6.35 | -0.15 | 0 | 1.11 | 1258.5 | 23.39 | -11.1 |
| 2019 (6) | 22.52 | 35.91 | 12.44 | 174.61 | 3.90 | 75.92 | 13.23 | 706.71 | 12.41 | 1141.0 | 21.14 | 1309.33 | 14.60 | 1147.86 | 1.15 | 10.58 | 17.47 | 335.66 | 50.66 | 12.28 | 94.03 | -66.26 | 5.97 | 0 | 0.08 | 27.79 | 26.31 | -2.56 |
| 2018 (5) | 16.57 | -34.12 | 4.53 | -64.64 | 2.22 | -23.2 | 1.64 | -84.44 | 1.00 | -96.62 | 1.50 | -91.12 | 1.17 | -89.87 | 1.04 | 4.0 | 4.01 | -70.71 | 45.12 | 5.25 | 278.69 | 129.72 | -177.05 | 0 | 0.06 | 0 | 27.00 | -1.78 |
| 2017 (4) | 25.15 | 149.75 | 12.81 | 0 | 2.89 | -22.93 | 10.54 | 0 | 29.58 | 0 | 16.89 | 0 | 11.55 | 0 | 1.00 | -4.76 | 13.69 | 0 | 42.87 | -25.97 | 121.32 | 36.0 | -21.58 | 0 | 0.00 | 0 | 27.49 | -9.39 |
| 2016 (3) | 10.07 | -5.0 | -4.40 | 0 | 3.75 | 14.76 | -4.92 | 0 | -5.57 | 0 | -6.28 | 0 | -3.70 | 0 | 1.05 | -13.22 | -0.95 | 0 | 57.91 | -11.78 | 89.20 | -54.39 | 10.80 | 0 | 0.00 | 0 | 30.34 | 1.4 |
| 2015 (2) | 10.60 | -16.47 | -2.95 | 0 | 3.27 | -9.65 | -1.51 | 0 | -1.31 | 0 | -2.61 | 0 | -1.47 | 0 | 1.21 | 6.14 | 1.89 | -34.6 | 65.64 | 5.38 | 195.59 | 1171.32 | -95.59 | 0 | 0.00 | 0 | 29.92 | 6.44 |
| 2014 (1) | 12.69 | 0 | -0.14 | 0 | 3.61 | 5.71 | -0.91 | 0 | -0.85 | 0 | -1.59 | 0 | -0.83 | 0 | 1.14 | -4.2 | 2.89 | 61.45 | 62.29 | -3.04 | 15.38 | -87.34 | 84.62 | 0 | 0.00 | 0 | 28.11 | 6.24 |
