- 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) | 26.38 | 2.49 | 9.96 | 11.22 | 8.09 | -8.93 | 12.02 | 11.09 | 10.58 | 8.41 | -5.72 | -6.03 | 2.81 | -8.47 | -21.51 | 1.84 | -7.07 | -6.6 | 0.21 | -4.55 | 0.0 | 16.60 | 8.92 | 7.58 | 54.76 | -3.73 | -35.44 | 93.22 | -2.21 | -17.84 | 6.78 | 81.36 | 150.36 | 10.42 | -8.11 | 44.92 |
| 23Q3 (19) | 25.74 | -4.1 | 12.6 | 10.38 | 4.74 | 20.56 | 10.82 | 0.37 | 28.96 | 8.92 | -7.56 | 32.15 | 3.07 | -3.46 | 6.6 | 1.98 | -1.98 | 30.26 | 0.22 | 10.0 | 0.0 | 15.24 | -1.55 | 18.69 | 56.88 | -6.43 | -38.07 | 95.33 | 3.35 | -6.92 | 3.74 | -51.87 | 255.14 | 11.34 | -17.65 | 10.74 |
| 23Q2 (18) | 26.84 | 5.88 | 46.59 | 9.91 | -3.13 | 22.35 | 10.78 | -1.64 | 25.79 | 9.65 | 10.03 | 39.25 | 3.18 | 0.95 | -38.61 | 2.02 | 7.45 | -27.86 | 0.20 | -4.76 | -50.0 | 15.48 | -0.26 | 39.84 | 60.79 | -5.25 | -39.86 | 92.23 | -0.31 | -2.61 | 7.77 | 18.72 | 46.6 | 13.77 | 13.99 | 77.45 |
| 23Q1 (17) | 25.35 | 5.67 | -6.8 | 10.23 | -16.96 | -9.39 | 10.96 | 0.83 | -5.6 | 8.77 | -2.01 | -6.4 | 3.15 | -12.01 | -18.81 | 1.88 | -4.57 | -12.96 | 0.21 | 0.0 | -4.55 | 15.52 | 0.58 | -2.33 | 64.16 | -24.36 | -16.73 | 92.52 | -18.45 | -4.98 | 6.54 | 148.6 | 148.6 | 12.08 | 68.01 | -6.65 |
| 22Q4 (16) | 23.99 | 4.94 | -13.33 | 12.32 | 43.09 | -0.65 | 10.87 | 29.56 | -13.52 | 8.95 | 32.59 | -10.95 | 3.58 | 24.31 | -10.95 | 1.97 | 29.61 | -7.51 | 0.21 | -4.55 | 0.0 | 15.43 | 20.17 | -10.19 | 84.82 | -7.65 | -8.41 | 113.46 | 10.79 | 14.47 | -13.46 | -458.65 | -860.58 | 7.19 | -29.79 | -30.53 |
| 22Q3 (15) | 22.86 | 24.85 | -11.15 | 8.61 | 6.3 | -25.65 | 8.39 | -2.1 | -28.17 | 6.75 | -2.6 | -27.34 | 2.88 | -44.4 | -22.58 | 1.52 | -45.71 | -23.62 | 0.22 | -45.0 | 4.76 | 12.84 | 15.99 | -21.32 | 91.85 | -9.13 | -4.11 | 102.41 | 8.14 | 3.39 | -2.41 | -145.48 | -353.01 | 10.24 | 31.96 | -2.29 |
| 22Q2 (14) | 18.31 | -32.68 | -28.56 | 8.10 | -28.26 | -22.93 | 8.57 | -26.18 | -23.48 | 6.93 | -26.04 | -25.08 | 5.18 | 33.51 | 24.52 | 2.80 | 29.63 | 26.13 | 0.40 | 81.82 | 73.91 | 11.07 | -30.33 | -27.74 | 101.08 | 31.19 | 11.96 | 94.70 | -2.74 | 1.02 | 5.30 | 101.32 | -15.23 | 7.76 | -40.03 | -35.6 |
| 22Q1 (13) | 27.20 | -1.73 | 3.62 | 11.29 | -8.95 | 10.15 | 11.61 | -7.64 | 2.2 | 9.37 | -6.77 | 1.08 | 3.88 | -3.48 | -1.02 | 2.16 | 1.41 | 6.93 | 0.22 | 4.76 | 4.76 | 15.89 | -7.51 | -0.63 | 77.05 | -16.8 | -20.46 | 97.37 | -1.76 | 8.19 | 2.63 | 48.68 | -73.68 | 12.94 | 25.02 | -3.0 |
| 21Q4 (12) | 27.68 | 7.58 | 13.58 | 12.40 | 7.08 | 16.98 | 12.57 | 7.62 | 11.83 | 10.05 | 8.18 | 8.18 | 4.02 | 8.06 | -1.95 | 2.13 | 7.04 | 6.5 | 0.21 | 0.0 | 0.0 | 17.18 | 5.27 | 6.31 | 92.61 | -3.32 | -14.86 | 99.12 | 0.07 | 5.65 | 1.77 | 85.84 | -71.39 | 10.35 | -1.24 | 30.52 |
| 21Q3 (11) | 25.73 | 0.39 | 0.82 | 11.58 | 10.18 | -2.69 | 11.68 | 4.29 | -9.25 | 9.29 | 0.43 | -11.1 | 3.72 | -10.58 | -26.77 | 1.99 | -10.36 | -17.77 | 0.21 | -8.7 | -4.55 | 16.32 | 6.53 | -7.85 | 95.79 | 6.1 | -18.48 | 99.05 | 5.65 | 7.62 | 0.95 | -84.76 | -88.04 | 10.48 | -13.03 | 1.06 |
| 21Q2 (10) | 25.63 | -2.36 | 3.31 | 10.51 | 2.54 | -5.66 | 11.20 | -1.41 | -3.11 | 9.25 | -0.22 | -0.11 | 4.16 | 6.12 | -8.17 | 2.22 | 9.9 | -1.33 | 0.23 | 9.52 | 0.0 | 15.32 | -4.19 | 0.59 | 90.28 | -6.8 | -23.78 | 93.75 | 4.17 | -2.38 | 6.25 | -37.5 | 57.81 | 12.05 | -9.67 | 0 |
| 21Q1 (9) | 26.25 | 7.71 | 8.16 | 10.25 | -3.3 | 3.64 | 11.36 | 1.07 | 14.63 | 9.27 | -0.22 | 17.19 | 3.92 | -4.39 | 9.19 | 2.02 | 1.0 | 9.19 | 0.21 | 0.0 | -4.55 | 15.99 | -1.05 | 16.72 | 96.87 | -10.95 | -3.8 | 90.00 | -4.07 | -10.0 | 10.00 | 61.67 | 0 | 13.34 | 68.22 | 0 |
| 20Q4 (8) | 24.37 | -4.51 | 9.33 | 10.60 | -10.92 | 13.25 | 11.24 | -12.67 | 3.98 | 9.29 | -11.1 | 5.09 | 4.10 | -19.29 | 0.24 | 2.00 | -17.36 | -2.91 | 0.21 | -4.55 | -4.55 | 16.16 | -8.75 | 9.86 | 108.78 | -7.42 | -0.07 | 93.81 | 1.93 | 7.39 | 6.19 | -22.34 | -55.15 | 7.93 | -23.53 | 8.78 |
| 20Q3 (7) | 25.52 | 2.86 | 12.87 | 11.90 | 6.82 | 43.89 | 12.87 | 11.33 | 50.35 | 10.45 | 12.85 | 60.77 | 5.08 | 12.14 | 63.87 | 2.42 | 7.56 | 59.21 | 0.22 | -4.35 | 0.0 | 17.71 | 16.28 | 42.71 | 117.50 | -0.8 | 10.06 | 92.04 | -4.17 | -5.22 | 7.96 | 101.11 | 174.78 | 10.37 | 0 | -3.89 |
| 20Q2 (6) | 24.81 | 2.22 | 7.36 | 11.14 | 12.64 | 12.75 | 11.56 | 16.65 | 28.3 | 9.26 | 17.07 | 29.51 | 4.53 | 26.18 | 30.17 | 2.25 | 21.62 | 33.14 | 0.23 | 4.55 | 4.55 | 15.23 | 11.17 | 17.7 | 118.45 | 17.63 | -7.06 | 96.04 | -3.96 | -12.26 | 3.96 | 0 | 141.87 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 24.27 | 8.88 | 6.4 | 9.89 | 5.66 | 4.77 | 9.91 | -8.33 | 1.43 | 7.91 | -10.52 | 0.89 | 3.59 | -12.22 | -5.03 | 1.85 | -10.19 | -7.5 | 0.22 | 0.0 | -12.0 | 13.70 | -6.87 | 3.16 | 100.70 | -7.5 | -8.27 | 100.00 | 14.47 | 3.95 | 0.00 | -100.0 | -100.0 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 22.29 | -1.42 | 0.0 | 9.36 | 13.18 | 0.0 | 10.81 | 26.29 | 0.0 | 8.84 | 36.0 | 0.0 | 4.09 | 31.94 | 0.0 | 2.06 | 35.53 | 0.0 | 0.22 | 0.0 | 0.0 | 14.71 | 18.53 | 0.0 | 108.86 | 1.97 | 0.0 | 87.36 | -10.04 | 0.0 | 13.79 | 375.86 | 0.0 | 7.29 | -32.44 | 0.0 |
| 19Q3 (3) | 22.61 | -2.16 | 0.0 | 8.27 | -16.3 | 0.0 | 8.56 | -4.99 | 0.0 | 6.50 | -9.09 | 0.0 | 3.10 | -10.92 | 0.0 | 1.52 | -10.06 | 0.0 | 0.22 | 0.0 | 0.0 | 12.41 | -4.1 | 0.0 | 106.76 | -16.23 | 0.0 | 97.10 | -11.29 | 0.0 | 2.90 | 130.64 | 0.0 | 10.79 | 14.3 | 0.0 |
| 19Q2 (2) | 23.11 | 1.32 | 0.0 | 9.88 | 4.66 | 0.0 | 9.01 | -7.78 | 0.0 | 7.15 | -8.8 | 0.0 | 3.48 | -7.94 | 0.0 | 1.69 | -15.5 | 0.0 | 0.22 | -12.0 | 0.0 | 12.94 | -2.56 | 0.0 | 127.45 | 16.1 | 0.0 | 109.46 | 13.78 | 0.0 | -9.46 | -349.1 | 0.0 | 9.44 | -11.69 | 0.0 |
| 19Q1 (1) | 22.81 | 0.0 | 0.0 | 9.44 | 0.0 | 0.0 | 9.77 | 0.0 | 0.0 | 7.84 | 0.0 | 0.0 | 3.78 | 0.0 | 0.0 | 2.00 | 0.0 | 0.0 | 0.25 | 0.0 | 0.0 | 13.28 | 0.0 | 0.0 | 109.78 | 0.0 | 0.0 | 96.20 | 0.0 | 0.0 | 3.80 | 0.0 | 0.0 | 10.69 | 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) | 26.07 | 16.96 | 10.44 | 7.19 | 3.88 | 23.66 | 11.15 | 15.66 | 8.93 | 14.34 | 12.83 | -16.96 | 7.84 | -6.89 | 0.85 | -19.05 | 15.71 | 17.68 | 54.76 | -35.44 | 93.78 | -7.25 | 6.45 | 0 | 4.09 | 3.09 | 11.89 | 28.54 |
| 2022 (9) | 22.29 | -15.25 | 9.74 | -12.8 | 3.13 | -15.72 | 9.64 | -17.54 | 7.81 | -17.44 | 15.45 | -4.33 | 8.42 | 0.96 | 1.05 | 23.53 | 13.35 | -17.49 | 84.82 | -8.41 | 101.11 | 5.77 | -1.11 | 0 | 3.97 | -8.26 | 9.25 | -19.98 |
| 2021 (8) | 26.30 | 6.26 | 11.17 | 2.48 | 3.72 | 6.36 | 11.69 | 2.36 | 9.46 | 2.27 | 16.15 | -3.35 | 8.34 | -0.12 | 0.85 | -2.3 | 16.18 | 2.66 | 92.61 | -14.86 | 95.59 | 0.19 | 4.41 | -4.0 | 4.33 | -11.71 | 11.56 | 11.48 |
| 2020 (7) | 24.75 | 9.03 | 10.90 | 17.97 | 3.50 | 10.02 | 11.42 | 19.71 | 9.25 | 22.03 | 16.71 | 16.45 | 8.35 | 8.3 | 0.87 | -10.31 | 15.76 | 18.5 | 108.78 | -0.07 | 95.41 | -1.4 | 4.59 | 41.89 | 4.90 | 288.66 | 10.37 | 8.59 |
| 2019 (6) | 22.70 | 2.71 | 9.24 | -2.94 | 3.18 | 158.84 | 9.54 | -4.22 | 7.58 | -3.68 | 14.35 | -3.76 | 7.71 | -12.29 | 0.97 | -12.61 | 13.30 | 17.91 | 108.86 | 34.49 | 96.76 | 1.03 | 3.24 | -23.33 | 1.26 | -12.93 | 9.55 | 2.03 |
| 2018 (5) | 22.10 | -2.21 | 9.52 | 3.59 | 1.23 | 10.09 | 9.96 | -2.73 | 7.87 | -7.63 | 14.91 | -5.87 | 8.79 | -11.75 | 1.11 | -4.31 | 11.28 | -1.23 | 80.94 | 33.1 | 95.78 | 6.7 | 4.22 | -58.75 | 1.45 | 0 | 9.36 | -4.68 |
| 2017 (4) | 22.60 | 7.16 | 9.19 | 7.36 | 1.12 | -4.26 | 10.24 | 11.79 | 8.52 | 16.23 | 15.84 | 17.68 | 9.96 | 16.63 | 1.16 | 0.0 | 11.42 | 9.7 | 60.81 | 3.77 | 89.77 | -3.92 | 10.23 | 55.87 | 0.00 | 0 | 9.82 | 2.29 |
| 2016 (3) | 21.09 | -0.94 | 8.56 | 0.82 | 1.16 | -13.74 | 9.16 | -4.58 | 7.33 | -6.74 | 13.46 | -4.74 | 8.54 | -5.01 | 1.16 | 2.65 | 10.41 | -5.54 | 58.60 | -1.21 | 93.44 | 5.47 | 6.56 | -44.31 | 0.00 | 0 | 9.60 | -0.1 |
| 2015 (2) | 21.29 | -5.96 | 8.49 | -7.92 | 1.35 | 0.98 | 9.60 | -3.23 | 7.86 | -1.87 | 14.13 | -1.53 | 8.99 | -1.32 | 1.13 | 0.0 | 11.02 | -2.39 | 59.32 | 2.83 | 88.59 | -4.62 | 11.79 | 65.64 | 0.00 | 0 | 9.61 | -4.47 |
| 2014 (1) | 22.64 | 0 | 9.22 | 0 | 1.34 | 10.74 | 9.92 | 0 | 8.01 | 0 | 14.35 | 0 | 9.11 | 0 | 1.13 | -3.42 | 11.29 | -3.17 | 57.69 | -1.64 | 92.88 | 9.09 | 7.12 | -52.1 | 0.00 | 0 | 10.06 | -2.24 |
