- 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) | 32.22 | 8.74 | 21.26 | 17.44 | 24.66 | 58.69 | 13.87 | -29.67 | 19.16 | 10.19 | -29.48 | 18.49 | 2.56 | -29.86 | 14.29 | 1.73 | -27.62 | 15.33 | 0.17 | 6.25 | 0.0 | 16.33 | -26.57 | 16.23 | 49.54 | -10.3 | -4.9 | 125.86 | 77.65 | 33.35 | -25.86 | -188.71 | -560.82 | 11.95 | -5.68 | -2.13 |
| 23Q3 (19) | 29.63 | 3.35 | 7.55 | 13.99 | 28.0 | 14.2 | 19.72 | 54.55 | -31.02 | 14.45 | 70.6 | -46.14 | 3.65 | 82.5 | -47.02 | 2.39 | 77.04 | -46.17 | 0.16 | 6.67 | 0.0 | 22.24 | 44.13 | -28.42 | 55.23 | -0.75 | 2.41 | 70.85 | -17.35 | 65.31 | 29.15 | 104.08 | -48.98 | 12.67 | -25.34 | -4.81 |
| 23Q2 (18) | 28.67 | 10.99 | 7.66 | 10.93 | 1.77 | 5.81 | 12.76 | 16.42 | 34.74 | 8.47 | 8.31 | 58.91 | 2.00 | 8.11 | 50.38 | 1.35 | 6.3 | 50.0 | 0.15 | -6.25 | -6.25 | 15.43 | 13.62 | 28.48 | 55.65 | 10.15 | -5.65 | 85.71 | -12.26 | -21.12 | 14.29 | 723.81 | 253.06 | 16.97 | 30.94 | 6.8 |
| 23Q1 (17) | 25.83 | -2.79 | -23.74 | 10.74 | -2.27 | -43.26 | 10.96 | -5.84 | -47.63 | 7.82 | -9.07 | -48.75 | 1.85 | -17.41 | -49.18 | 1.27 | -15.33 | -48.16 | 0.16 | -5.88 | 0.0 | 13.58 | -3.35 | -42.29 | 50.52 | -3.01 | 3.63 | 97.69 | 3.5 | 8.13 | 1.73 | -69.1 | -82.04 | 12.96 | 6.14 | -3.43 |
| 22Q4 (16) | 26.57 | -3.56 | -17.25 | 10.99 | -10.29 | -21.78 | 11.64 | -59.29 | -7.62 | 8.60 | -67.95 | -10.7 | 2.24 | -67.49 | 5.16 | 1.50 | -66.22 | 5.63 | 0.17 | 6.25 | 21.43 | 14.05 | -54.78 | -6.46 | 52.09 | -3.41 | -2.25 | 94.39 | 120.24 | -15.44 | 5.61 | -90.18 | 148.27 | 12.21 | -8.26 | -12.97 |
| 22Q3 (15) | 27.55 | 3.45 | -11.1 | 12.25 | 18.59 | -14.87 | 28.59 | 201.9 | 71.3 | 26.83 | 403.38 | 127.76 | 6.89 | 418.05 | 141.75 | 4.44 | 393.33 | 131.25 | 0.16 | 0.0 | 0.0 | 31.07 | 158.7 | 60.4 | 53.93 | -8.56 | 1.93 | 42.86 | -60.56 | -50.17 | 57.14 | 712.24 | 308.16 | 13.31 | -16.24 | -7.44 |
| 22Q2 (14) | 26.63 | -21.38 | -18.31 | 10.33 | -45.43 | -23.48 | 9.47 | -54.75 | -30.47 | 5.33 | -65.07 | -54.72 | 1.33 | -63.46 | -51.1 | 0.90 | -63.27 | -51.35 | 0.16 | 0.0 | 0.0 | 12.01 | -48.96 | -26.32 | 58.98 | 20.98 | 20.24 | 108.67 | 20.28 | 9.76 | -9.33 | -196.65 | -1038.0 | 15.89 | 18.41 | -12.45 |
| 22Q1 (13) | 33.87 | 5.48 | -1.77 | 18.93 | 34.73 | 8.67 | 20.93 | 66.11 | 5.87 | 15.26 | 58.46 | 5.31 | 3.64 | 70.89 | 7.69 | 2.45 | 72.54 | 6.52 | 0.16 | 14.29 | 0.0 | 23.53 | 56.66 | 4.39 | 48.75 | -8.52 | -1.22 | 90.34 | -19.07 | 2.5 | 9.66 | 183.05 | -18.6 | 13.42 | -4.35 | -8.71 |
| 21Q4 (12) | 32.11 | 3.61 | -3.02 | 14.05 | -2.36 | -13.49 | 12.60 | -24.51 | -0.63 | 9.63 | -18.25 | 7.96 | 2.13 | -25.26 | -0.47 | 1.42 | -26.04 | -3.4 | 0.14 | -12.5 | -12.5 | 15.02 | -22.46 | -2.85 | 53.29 | 0.72 | 11.42 | 111.63 | 29.8 | -13.18 | -11.63 | -183.06 | 58.53 | 14.03 | -2.43 | 1.81 |
| 21Q3 (11) | 30.99 | -4.94 | -11.56 | 14.39 | 6.59 | -20.06 | 16.69 | 22.54 | -10.56 | 11.78 | 0.08 | -13.89 | 2.85 | 4.78 | -17.39 | 1.92 | 3.78 | -15.42 | 0.16 | 0.0 | 0.0 | 19.37 | 18.83 | -9.36 | 52.91 | 7.87 | 1.77 | 86.00 | -13.14 | -10.56 | 14.00 | 1307.0 | 300.4 | 14.38 | -20.77 | 0.91 |
| 21Q2 (10) | 32.60 | -5.45 | -0.09 | 13.50 | -22.5 | 10.29 | 13.62 | -31.11 | 12.94 | 11.77 | -18.77 | 22.1 | 2.72 | -19.53 | 21.43 | 1.85 | -19.57 | 24.16 | 0.16 | 0.0 | 6.67 | 16.30 | -27.68 | 6.89 | 49.05 | -0.61 | -11.11 | 99.00 | 12.33 | -2.68 | 1.00 | -91.61 | 157.38 | 18.15 | 23.47 | 0 |
| 21Q1 (9) | 34.48 | 4.14 | 0.26 | 17.42 | 7.27 | -1.8 | 19.77 | 55.91 | 6.75 | 14.49 | 62.44 | 7.81 | 3.38 | 57.94 | -0.29 | 2.30 | 56.46 | 1.32 | 0.16 | 0.0 | -5.88 | 22.54 | 45.8 | 4.64 | 49.35 | 3.18 | -2.74 | 88.14 | -31.45 | -8.1 | 11.86 | 142.31 | 189.69 | 14.70 | 6.68 | 0 |
| 20Q4 (8) | 33.11 | -5.51 | 4.61 | 16.24 | -9.78 | 8.85 | 12.68 | -32.05 | -12.91 | 8.92 | -34.8 | -23.1 | 2.14 | -37.97 | -30.07 | 1.47 | -35.24 | -27.59 | 0.16 | 0.0 | -5.88 | 15.46 | -27.66 | -10.94 | 47.83 | -8.0 | -7.38 | 128.57 | 33.71 | 25.38 | -28.04 | -902.01 | -1003.0 | 13.78 | -3.3 | 0 |
| 20Q3 (7) | 35.04 | 7.39 | 15.42 | 18.00 | 47.06 | 27.39 | 18.66 | 54.73 | 24.82 | 13.68 | 41.91 | 33.07 | 3.45 | 54.02 | 21.48 | 2.27 | 52.35 | 22.7 | 0.16 | 6.67 | -11.11 | 21.37 | 40.13 | 20.8 | 51.99 | -5.78 | -4.94 | 96.15 | -5.49 | 1.93 | 3.50 | 301.63 | -33.57 | 14.25 | 0 | 11.07 |
| 20Q2 (6) | 32.63 | -5.12 | 1.75 | 12.24 | -31.0 | -16.28 | 12.06 | -34.88 | -22.29 | 9.64 | -28.27 | -15.81 | 2.24 | -33.92 | -25.08 | 1.49 | -34.36 | -23.59 | 0.15 | -11.76 | -11.76 | 15.25 | -29.2 | -16.76 | 55.18 | 8.75 | -2.49 | 101.73 | 6.08 | 7.95 | -1.73 | -142.34 | -130.1 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 34.39 | 8.66 | 10.19 | 17.74 | 18.9 | 20.11 | 18.52 | 27.2 | 20.26 | 13.44 | 15.86 | 10.62 | 3.39 | 10.78 | 12.62 | 2.27 | 11.82 | 14.65 | 0.17 | 0.0 | 6.25 | 21.54 | 24.08 | 17.7 | 50.74 | -1.74 | -6.38 | 95.90 | -6.47 | 0.28 | 4.10 | 261.09 | 4.21 | 0.00 | 0 | -100.0 |
| 19Q4 (4) | 31.65 | 4.25 | 0.0 | 14.92 | 5.59 | 0.0 | 14.56 | -2.61 | 0.0 | 11.60 | 12.84 | 0.0 | 3.06 | 7.75 | 0.0 | 2.03 | 9.73 | 0.0 | 0.17 | -5.56 | 0.0 | 17.36 | -1.87 | 0.0 | 51.64 | -5.58 | 0.0 | 102.54 | 8.7 | 0.0 | -2.54 | -148.31 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 30.36 | -5.33 | 0.0 | 14.13 | -3.35 | 0.0 | 14.95 | -3.67 | 0.0 | 10.28 | -10.22 | 0.0 | 2.84 | -5.02 | 0.0 | 1.85 | -5.13 | 0.0 | 0.18 | 5.88 | 0.0 | 17.69 | -3.44 | 0.0 | 54.69 | -3.36 | 0.0 | 94.33 | 0.1 | 0.0 | 5.26 | -8.65 | 0.0 | 12.83 | -19.51 | 0.0 |
| 19Q2 (2) | 32.07 | 2.76 | 0.0 | 14.62 | -1.02 | 0.0 | 15.52 | 0.78 | 0.0 | 11.45 | -5.76 | 0.0 | 2.99 | -0.66 | 0.0 | 1.95 | -1.52 | 0.0 | 0.17 | 6.25 | 0.0 | 18.32 | 0.11 | 0.0 | 56.59 | 4.41 | 0.0 | 94.24 | -1.46 | 0.0 | 5.76 | 46.59 | 0.0 | 15.94 | 10.39 | 0.0 |
| 19Q1 (1) | 31.21 | 0.0 | 0.0 | 14.77 | 0.0 | 0.0 | 15.40 | 0.0 | 0.0 | 12.15 | 0.0 | 0.0 | 3.01 | 0.0 | 0.0 | 1.98 | 0.0 | 0.0 | 0.16 | 0.0 | 0.0 | 18.30 | 0.0 | 0.0 | 54.20 | 0.0 | 0.0 | 95.63 | 0.0 | 0.0 | 3.93 | 0.0 | 0.0 | 14.44 | 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) | 29.14 | 1.96 | 13.36 | 2.38 | 1.98 | -1.06 | 14.36 | -18.22 | 10.27 | -26.27 | 9.86 | -28.91 | 6.72 | -27.11 | 0.64 | -1.54 | 16.91 | -15.62 | 49.54 | -4.9 | 92.93 | 25.07 | 7.07 | -72.5 | 0.51 | -4.76 | 13.59 | -0.73 |
| 2022 (9) | 28.58 | -12.2 | 13.05 | -12.18 | 2.00 | -10.87 | 17.56 | 11.49 | 13.93 | 16.37 | 13.87 | 24.95 | 9.22 | 23.1 | 0.65 | 4.84 | 20.04 | 8.97 | 52.09 | -2.25 | 74.31 | -21.32 | 25.69 | 353.06 | 0.54 | -7.6 | 13.69 | -10.7 |
| 2021 (8) | 32.55 | -3.76 | 14.86 | -7.87 | 2.25 | -8.16 | 15.75 | 1.16 | 11.97 | 4.27 | 11.10 | 0.18 | 7.49 | -0.4 | 0.62 | -3.13 | 18.39 | -0.59 | 53.29 | 11.42 | 94.44 | -8.85 | 5.67 | 0 | 0.58 | 0.99 | 15.33 | 2.68 |
| 2020 (7) | 33.82 | 8.02 | 16.13 | 10.4 | 2.45 | 6.05 | 15.57 | 3.18 | 11.48 | 1.15 | 11.08 | -6.58 | 7.52 | -4.81 | 0.64 | -7.25 | 18.50 | 3.35 | 47.83 | -7.38 | 103.61 | 6.98 | -3.61 | 0 | 0.58 | 0 | 14.93 | 6.34 |
| 2019 (6) | 31.31 | -3.36 | 14.61 | -9.03 | 2.31 | 10.56 | 15.09 | -10.02 | 11.35 | -1.99 | 11.86 | -3.26 | 7.90 | 0.89 | 0.69 | 2.99 | 17.90 | -7.35 | 51.64 | -3.48 | 96.86 | 1.12 | 3.25 | -22.92 | 0.00 | 0 | 14.04 | 17.69 |
| 2018 (5) | 32.40 | -0.64 | 16.06 | -5.47 | 2.09 | -0.48 | 16.77 | 0.0 | 11.58 | -3.9 | 12.26 | -10.58 | 7.83 | -7.99 | 0.67 | -4.29 | 19.32 | 0.0 | 53.50 | -16.25 | 95.78 | -5.49 | 4.22 | 0 | 0.65 | 4.13 | 11.93 | 15.27 |
| 2017 (4) | 32.61 | 19.49 | 16.99 | 43.74 | 2.10 | 4.87 | 16.77 | 29.6 | 12.05 | 21.35 | 13.71 | 13.68 | 8.51 | 12.86 | 0.70 | -6.67 | 19.32 | 24.65 | 63.88 | 1.72 | 101.35 | 10.94 | -1.35 | 0 | 0.63 | 0 | 10.35 | -1.99 |
| 2016 (3) | 27.29 | 10.98 | 11.82 | 9.04 | 2.00 | -5.2 | 12.94 | 41.58 | 9.93 | 43.29 | 12.06 | 35.35 | 7.54 | 32.98 | 0.75 | -6.25 | 15.50 | 30.47 | 62.80 | 1.88 | 91.35 | -23.01 | 8.65 | 0 | 0.00 | 0 | 10.56 | -1.31 |
| 2015 (2) | 24.59 | 8.47 | 10.84 | 35.16 | 2.11 | -16.41 | 9.14 | 7.91 | 6.93 | 20.73 | 8.91 | 23.92 | 5.67 | 19.37 | 0.80 | 2.56 | 11.88 | 0.51 | 61.64 | 0.44 | 118.65 | 25.23 | -18.65 | 0 | 0.00 | 0 | 10.70 | -5.56 |
| 2014 (1) | 22.67 | 0 | 8.02 | 0 | 2.53 | -13.98 | 8.47 | 0 | 5.74 | 0 | 7.19 | 0 | 4.75 | 0 | 0.78 | 1.3 | 11.82 | -6.04 | 61.37 | 2.99 | 94.75 | 12.8 | 5.44 | -66.01 | 0.00 | 0 | 11.33 | 7.6 |
