- 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) | 5.71 | -27.81 | -27.9 | 0.27 | -92.74 | -91.12 | 0.83 | -78.77 | -4.6 | 0.85 | -77.21 | -21.3 | 0.24 | -78.76 | -31.43 | 0.32 | -60.49 | 14.29 | 0.16 | -5.88 | -11.11 | 7.29 | -28.32 | 64.19 | 72.46 | -1.27 | -20.74 | 32.12 | -66.2 | -90.76 | 67.88 | 1266.59 | 127.42 | 7.36 | 48.69 | 41.27 |
| 23Q3 (19) | 7.91 | 6.46 | 10.32 | 3.72 | 10.39 | 22.37 | 3.91 | -10.53 | -85.73 | 3.73 | 38.15 | -82.54 | 1.13 | 17.71 | -85.38 | 0.81 | 19.12 | -81.25 | 0.17 | -10.53 | -15.0 | 10.17 | 9.12 | -66.73 | 73.39 | -8.57 | 1.33 | 95.03 | 23.17 | 756.01 | 4.97 | -78.26 | -94.41 | 4.95 | 1.85 | -15.82 |
| 23Q2 (18) | 7.43 | -18.62 | -28.76 | 3.37 | -37.59 | -45.99 | 4.37 | -28.71 | -66.12 | 2.70 | -45.45 | -75.05 | 0.96 | -49.21 | -80.65 | 0.68 | -39.82 | -74.72 | 0.19 | -5.0 | -20.83 | 9.32 | -10.9 | -39.01 | 80.27 | -11.7 | -17.12 | 77.15 | -12.36 | 59.45 | 22.85 | 91.51 | -55.74 | 4.86 | -2.41 | 3.18 |
| 23Q1 (17) | 9.13 | 15.28 | -29.28 | 5.40 | 77.63 | -37.72 | 6.13 | 604.6 | -42.71 | 4.95 | 358.33 | -45.84 | 1.89 | 440.0 | -46.46 | 1.13 | 303.57 | -45.15 | 0.20 | 11.11 | -9.09 | 10.46 | 135.59 | -21.77 | 90.91 | -0.56 | 10.62 | 88.04 | -74.67 | 8.65 | 11.93 | 104.82 | -37.11 | 4.98 | -4.41 | 9.69 |
| 22Q4 (16) | 7.92 | 10.46 | -56.56 | 3.04 | 0.0 | -78.22 | 0.87 | -96.82 | -94.58 | 1.08 | -94.94 | -90.15 | 0.35 | -95.47 | -92.9 | 0.28 | -93.52 | -90.34 | 0.18 | -10.0 | -30.77 | 4.44 | -85.48 | -75.52 | 91.42 | 26.22 | 31.43 | 347.52 | 3030.3 | 299.92 | -247.52 | -378.43 | -1989.21 | 5.21 | -11.39 | 20.32 |
| 22Q3 (15) | 7.17 | -31.26 | -42.59 | 3.04 | -51.28 | -65.57 | 27.40 | 112.4 | 113.9 | 21.36 | 97.41 | 94.54 | 7.73 | 55.85 | 69.89 | 4.32 | 60.59 | 60.0 | 0.20 | -16.67 | -16.67 | 30.57 | 100.07 | 106.97 | 72.43 | -25.21 | -6.58 | 11.10 | -77.06 | -83.89 | 88.90 | 72.24 | 185.8 | 5.88 | 24.84 | 42.03 |
| 22Q2 (14) | 10.43 | -19.21 | 11.67 | 6.24 | -28.03 | 14.29 | 12.90 | 20.56 | 18.89 | 10.82 | 18.38 | 14.62 | 4.96 | 40.51 | 35.89 | 2.69 | 30.58 | 19.56 | 0.24 | 9.09 | 4.35 | 15.28 | 14.29 | 19.37 | 96.85 | 17.85 | 47.75 | 48.39 | -40.29 | -3.75 | 51.61 | 172.1 | 3.79 | 4.71 | 3.74 | 10.3 |
| 22Q1 (13) | 12.91 | -29.18 | 54.24 | 8.67 | -37.89 | 149.86 | 10.70 | -33.37 | 53.96 | 9.14 | -16.68 | 44.16 | 3.53 | -28.4 | 78.28 | 2.06 | -28.97 | 70.25 | 0.22 | -15.38 | 22.22 | 13.37 | -26.3 | 42.84 | 82.18 | 18.14 | 23.17 | 81.03 | -6.75 | 62.31 | 18.97 | 44.78 | -62.16 | 4.54 | 4.85 | -22.26 |
| 21Q4 (12) | 18.23 | 45.96 | 71.5 | 13.96 | 58.1 | 138.23 | 16.06 | 25.37 | 111.32 | 10.97 | -0.09 | 65.71 | 4.93 | 8.35 | 98.79 | 2.90 | 7.41 | 95.95 | 0.26 | 8.33 | 23.81 | 18.14 | 22.82 | 81.95 | 69.56 | -10.28 | -5.55 | 86.90 | 26.13 | 12.77 | 13.10 | -57.88 | -42.9 | 4.33 | 4.59 | -21.84 |
| 21Q3 (11) | 12.49 | 33.73 | 20.21 | 8.83 | 61.72 | 43.58 | 12.81 | 18.06 | 55.27 | 10.98 | 16.31 | 67.12 | 4.55 | 24.66 | 89.58 | 2.70 | 20.0 | 94.24 | 0.24 | 4.35 | 20.0 | 14.77 | 15.39 | 34.39 | 77.53 | 18.28 | -0.67 | 68.90 | 37.05 | -7.61 | 31.10 | -37.45 | 22.32 | 4.14 | -3.04 | -28.0 |
| 21Q2 (10) | 9.34 | 11.59 | -42.38 | 5.46 | 57.35 | -54.35 | 10.85 | 56.12 | -27.81 | 9.44 | 48.9 | -5.69 | 3.65 | 84.34 | -6.17 | 2.25 | 85.95 | 6.64 | 0.23 | 27.78 | 15.0 | 12.80 | 36.75 | -27.56 | 65.55 | -1.75 | -25.46 | 50.27 | 0.69 | -36.81 | 49.73 | -0.79 | 143.19 | 4.27 | -26.88 | -8.37 |
| 21Q1 (9) | 8.37 | -21.26 | 33.49 | 3.47 | -40.78 | 139.31 | 6.95 | -8.55 | 802.6 | 6.34 | -4.23 | 756.76 | 1.98 | -20.16 | 760.87 | 1.21 | -18.24 | 572.22 | 0.18 | -14.29 | 5.88 | 9.36 | -6.12 | 153.66 | 66.72 | -9.41 | -32.38 | 49.93 | -35.21 | -73.6 | 50.12 | 118.47 | 156.24 | 5.84 | 5.42 | -6.56 |
| 20Q4 (8) | 10.63 | 2.31 | -8.91 | 5.86 | -4.72 | -6.84 | 7.60 | -7.88 | 42.59 | 6.62 | 0.76 | 62.25 | 2.48 | 3.33 | 54.04 | 1.48 | 6.47 | 48.0 | 0.21 | 5.0 | -4.55 | 9.97 | -9.28 | 29.48 | 73.65 | -5.64 | -2.75 | 77.06 | 3.33 | -34.64 | 22.94 | -9.77 | 228.19 | 5.54 | -3.65 | -30.14 |
| 20Q3 (7) | 10.39 | -35.9 | 59.11 | 6.15 | -48.58 | 167.39 | 8.25 | -45.11 | 8350.0 | 6.57 | -34.37 | 1360.0 | 2.40 | -38.3 | 1311.76 | 1.39 | -34.12 | 717.65 | 0.20 | 0.0 | -4.76 | 10.99 | -37.8 | 369.66 | 78.05 | -11.25 | 1.95 | 74.57 | -6.26 | 103.24 | 25.43 | 24.36 | -98.94 | 5.75 | 23.39 | 21.56 |
| 20Q2 (6) | 16.21 | 158.53 | 208.76 | 11.96 | 724.83 | 616.17 | 15.03 | 1851.95 | 105.05 | 10.01 | 1252.7 | 100.6 | 3.89 | 1591.3 | 67.67 | 2.11 | 1072.22 | 48.59 | 0.20 | 17.65 | -25.93 | 17.67 | 378.86 | 94.6 | 87.94 | -10.87 | 5.36 | 79.55 | -57.94 | 249.82 | 20.45 | 122.94 | -73.53 | 4.66 | -25.44 | 18.27 |
| 20Q1 (5) | 6.27 | -46.27 | 21.98 | 1.45 | -76.95 | -34.68 | 0.77 | -85.55 | -30.63 | 0.74 | -81.86 | -49.32 | 0.23 | -85.71 | -65.67 | 0.18 | -82.0 | -64.0 | 0.17 | -22.73 | -39.29 | 3.69 | -52.08 | 31.32 | 98.67 | 30.29 | 55.39 | 189.13 | 60.42 | -5.32 | -89.13 | -397.97 | 10.65 | 6.25 | -21.19 | 57.83 |
| 19Q4 (4) | 11.67 | 78.71 | 0.0 | 6.29 | 173.48 | 0.0 | 5.33 | 5430.0 | 0.0 | 4.08 | 806.67 | 0.0 | 1.61 | 847.06 | 0.0 | 1.00 | 488.24 | 0.0 | 0.22 | 4.76 | 0.0 | 7.70 | 229.06 | 0.0 | 75.73 | -1.08 | 0.0 | 117.90 | 105.13 | 0.0 | -17.90 | -100.75 | 0.0 | 7.93 | 67.65 | 0.0 |
| 19Q3 (3) | 6.53 | 24.38 | 0.0 | 2.30 | 37.72 | 0.0 | -0.10 | -101.36 | 0.0 | 0.45 | -90.98 | 0.0 | 0.17 | -92.67 | 0.0 | 0.17 | -88.03 | 0.0 | 0.21 | -22.22 | 0.0 | 2.34 | -74.23 | 0.0 | 76.56 | -8.28 | 0.0 | -2300.00 | -10214.05 | 0.0 | 2396.67 | 3002.1 | 0.0 | 4.73 | 20.05 | 0.0 |
| 19Q2 (2) | 5.25 | 2.14 | 0.0 | 1.67 | -24.77 | 0.0 | 7.33 | 560.36 | 0.0 | 4.99 | 241.78 | 0.0 | 2.32 | 246.27 | 0.0 | 1.42 | 184.0 | 0.0 | 0.27 | -3.57 | 0.0 | 9.08 | 223.13 | 0.0 | 83.47 | 31.45 | 0.0 | 22.74 | -88.62 | 0.0 | 77.26 | 177.45 | 0.0 | 3.94 | -0.51 | 0.0 |
| 19Q1 (1) | 5.14 | 0.0 | 0.0 | 2.22 | 0.0 | 0.0 | 1.11 | 0.0 | 0.0 | 1.46 | 0.0 | 0.0 | 0.67 | 0.0 | 0.0 | 0.50 | 0.0 | 0.0 | 0.28 | 0.0 | 0.0 | 2.81 | 0.0 | 0.0 | 63.50 | 0.0 | 0.0 | 199.76 | 0.0 | 0.0 | -99.76 | 0.0 | 0.0 | 3.96 | 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) | 7.61 | -20.89 | 3.29 | -37.57 | 3.70 | 52.01 | 3.92 | -69.78 | 3.13 | -70.5 | 4.12 | -73.94 | 2.92 | -67.56 | 0.73 | -10.98 | 9.37 | -41.07 | 72.46 | -20.74 | 83.91 | 106.72 | 16.11 | -72.89 | 4.56 | 25.54 | 5.49 | 8.28 |
| 2022 (9) | 9.62 | -23.89 | 5.27 | -38.15 | 2.43 | 36.08 | 12.97 | 6.22 | 10.61 | 8.93 | 15.81 | 1.15 | 9.00 | -3.43 | 0.82 | -12.77 | 15.90 | 11.34 | 91.42 | 31.43 | 40.59 | -41.84 | 59.41 | 96.65 | 3.64 | 3746.16 | 5.07 | 11.67 |
| 2021 (8) | 12.64 | 14.08 | 8.52 | 29.88 | 1.79 | -16.43 | 12.21 | 48.54 | 9.74 | 56.59 | 15.63 | 84.97 | 9.32 | 81.32 | 0.94 | 20.51 | 14.28 | 31.37 | 69.56 | -5.55 | 69.79 | -12.57 | 30.21 | 49.78 | 0.09 | -18.14 | 4.54 | -17.75 |
| 2020 (7) | 11.08 | 58.97 | 6.56 | 117.94 | 2.14 | 33.23 | 8.22 | 133.52 | 6.22 | 121.35 | 8.45 | 76.41 | 5.14 | 64.22 | 0.78 | -22.0 | 10.87 | 95.86 | 73.65 | -2.75 | 79.83 | -6.78 | 20.17 | 40.4 | 0.12 | -5.11 | 5.52 | 9.74 |
| 2019 (6) | 6.97 | -16.53 | 3.01 | -47.92 | 1.60 | 76.56 | 3.52 | -59.68 | 2.81 | -55.11 | 4.79 | -69.65 | 3.13 | -67.09 | 1.00 | -31.03 | 5.55 | -44.61 | 75.73 | 12.43 | 85.63 | 29.47 | 14.37 | -57.57 | 0.12 | -1.58 | 5.03 | 54.29 |
| 2018 (5) | 8.35 | 16.78 | 5.78 | 22.72 | 0.91 | -13.46 | 8.73 | 55.89 | 6.26 | 56.89 | 15.78 | 62.18 | 9.51 | 63.12 | 1.45 | 5.84 | 10.02 | 43.76 | 67.36 | -16.01 | 66.14 | -21.31 | 33.86 | 112.2 | 0.12 | 0 | 3.26 | 6.19 |
| 2017 (4) | 7.15 | 7.2 | 4.71 | 26.95 | 1.05 | -15.99 | 5.60 | 29.93 | 3.99 | 18.05 | 9.73 | 29.56 | 5.83 | 24.84 | 1.37 | 4.58 | 6.97 | 19.97 | 80.20 | 7.08 | 84.05 | -2.51 | 15.96 | 15.61 | 0.00 | 0 | 3.07 | -12.54 |
| 2016 (3) | 6.67 | 71.47 | 3.71 | 183.21 | 1.25 | -14.68 | 4.31 | 161.21 | 3.38 | 191.38 | 7.51 | 180.22 | 4.67 | 139.49 | 1.31 | -6.43 | 5.81 | 69.39 | 74.90 | 15.8 | 86.21 | 8.54 | 13.80 | -33.03 | 0.00 | 0 | 3.51 | 14.71 |
| 2015 (2) | 3.89 | -16.16 | 1.31 | -39.07 | 1.47 | 3.24 | 1.65 | -26.67 | 1.16 | -25.64 | 2.68 | -32.49 | 1.95 | -31.58 | 1.40 | -4.76 | 3.43 | -17.55 | 64.68 | -2.38 | 79.43 | -17.01 | 20.61 | 377.52 | 0.00 | 0 | 3.06 | 11.68 |
| 2014 (1) | 4.64 | 0 | 2.15 | 0 | 1.42 | -19.18 | 2.25 | 0 | 1.56 | 0 | 3.97 | 0 | 2.85 | 0 | 1.47 | 9.7 | 4.16 | 511.76 | 66.26 | -19.53 | 95.71 | 0 | 4.32 | -95.77 | 0.00 | 0 | 2.74 | -7.74 |
