- 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) | 13.09 | 14.42 | 1.71 | 4.62 | 10.53 | -0.65 | 4.81 | 13.44 | 0.84 | 3.83 | 13.31 | 0.79 | 3.13 | -14.25 | -6.01 | 1.86 | -11.0 | -2.62 | 0.47 | -22.95 | -4.08 | 7.42 | 19.1 | 0.95 | 73.73 | 4.12 | -12.77 | 95.97 | -2.64 | -1.49 | 4.03 | 181.25 | 56.33 | 4.11 | -0.48 | -2.84 |
| 23Q3 (19) | 11.44 | 4.28 | -7.89 | 4.18 | -4.13 | 4.5 | 4.24 | -5.15 | 4.95 | 3.38 | -5.06 | 5.3 | 3.65 | -21.51 | 20.46 | 2.09 | -16.4 | 18.08 | 0.61 | -11.59 | 12.96 | 6.23 | 3.15 | -4.45 | 70.81 | -16.89 | 0.06 | 98.57 | 1.09 | -0.31 | 1.43 | -42.57 | 59.5 | 4.13 | 0.24 | -15.2 |
| 23Q2 (18) | 10.97 | -3.01 | 1.76 | 4.36 | 5.31 | 13.25 | 4.47 | 6.68 | 14.62 | 3.56 | 6.59 | 14.84 | 4.65 | 35.57 | 36.76 | 2.50 | 34.41 | 25.63 | 0.69 | 25.45 | 9.52 | 6.04 | -1.63 | 0.67 | 85.20 | -7.68 | 7.74 | 97.50 | -1.14 | -1.12 | 2.50 | 81.52 | 56.96 | 4.12 | -7.42 | 1.98 |
| 23Q1 (17) | 11.31 | -12.12 | -11.64 | 4.14 | -10.97 | -0.72 | 4.19 | -12.16 | 0.48 | 3.34 | -12.11 | 0.0 | 3.43 | 3.0 | 27.04 | 1.86 | -2.62 | 13.41 | 0.55 | 12.24 | 14.58 | 6.14 | -16.46 | -11.91 | 92.29 | 9.19 | 33.19 | 98.62 | 1.24 | -1.13 | 1.38 | -46.68 | 451.47 | 4.45 | 5.2 | -5.12 |
| 22Q4 (16) | 12.87 | 3.62 | -4.17 | 4.65 | 16.25 | 12.05 | 4.77 | 18.07 | 11.97 | 3.80 | 18.38 | 12.43 | 3.33 | 9.9 | 15.22 | 1.91 | 7.91 | 8.52 | 0.49 | -9.26 | -3.92 | 7.35 | 12.73 | 4.11 | 84.52 | 19.43 | 23.64 | 97.42 | -1.47 | 0.03 | 2.58 | 186.95 | -1.28 | 4.23 | -13.14 | -16.07 |
| 22Q3 (15) | 12.42 | 15.21 | 2.81 | 4.00 | 3.9 | 9.29 | 4.04 | 3.59 | 10.08 | 3.21 | 3.55 | 10.69 | 3.03 | -10.88 | 23.17 | 1.77 | -11.06 | 13.46 | 0.54 | -14.29 | 3.85 | 6.52 | 8.67 | -0.15 | 70.77 | -10.51 | 3.77 | 98.88 | 0.27 | -0.85 | 0.90 | -43.48 | 227.19 | 4.87 | 20.54 | 9.19 |
| 22Q2 (14) | 10.78 | -15.78 | -3.92 | 3.85 | -7.67 | 7.84 | 3.90 | -6.47 | 9.55 | 3.10 | -7.19 | 9.93 | 3.40 | 25.93 | 18.88 | 1.99 | 21.34 | 9.34 | 0.63 | 31.25 | 0.0 | 6.00 | -13.92 | 0.0 | 79.08 | 14.13 | 39.74 | 98.61 | -1.15 | -1.85 | 1.59 | 537.77 | 439.56 | 4.04 | -13.86 | -3.81 |
| 22Q1 (13) | 12.80 | -4.69 | 9.5 | 4.17 | 0.48 | 22.29 | 4.17 | -2.11 | 21.57 | 3.34 | -1.18 | 23.25 | 2.70 | -6.57 | 11.11 | 1.64 | -6.82 | 7.89 | 0.48 | -5.88 | -11.11 | 6.97 | -1.27 | 10.99 | 69.29 | 1.36 | 4.72 | 99.75 | 2.43 | 0.32 | 0.25 | -90.46 | -55.86 | 4.69 | -6.94 | 6.11 |
| 21Q4 (12) | 13.43 | 11.18 | 3.63 | 4.15 | 13.39 | 4.01 | 4.26 | 16.08 | 1.91 | 3.38 | 16.55 | 2.11 | 2.89 | 17.48 | -19.05 | 1.76 | 12.82 | -17.37 | 0.51 | -1.92 | -19.05 | 7.06 | 8.12 | 2.92 | 68.36 | 0.23 | 7.93 | 97.39 | -2.34 | 2.08 | 2.61 | 851.07 | -43.14 | 5.04 | 13.0 | 17.76 |
| 21Q3 (11) | 12.08 | 7.66 | -0.49 | 3.66 | 2.52 | 7.65 | 3.67 | 3.09 | 8.9 | 2.90 | 2.84 | 8.61 | 2.46 | -13.99 | -22.64 | 1.56 | -14.29 | -11.86 | 0.52 | -17.46 | -18.75 | 6.53 | 8.83 | 4.82 | 68.20 | 20.52 | -18.03 | 99.73 | -0.74 | -1.12 | 0.27 | 158.65 | 131.96 | 4.46 | 6.19 | -5.91 |
| 21Q2 (10) | 11.22 | -4.02 | -3.69 | 3.57 | 4.69 | -2.19 | 3.56 | 3.79 | -9.41 | 2.82 | 4.06 | -15.57 | 2.86 | 17.7 | -27.96 | 1.82 | 19.74 | -16.51 | 0.63 | 16.67 | 0.0 | 6.00 | -4.46 | -12.41 | 56.59 | -14.48 | -37.45 | 100.47 | 1.04 | 8.03 | -0.47 | -182.9 | -106.46 | 4.20 | -4.98 | -6.46 |
| 21Q1 (9) | 11.69 | -9.8 | 12.62 | 3.41 | -14.54 | 114.47 | 3.43 | -17.94 | 131.76 | 2.71 | -18.13 | 135.65 | 2.43 | -31.93 | 127.1 | 1.52 | -28.64 | 137.5 | 0.54 | -14.29 | 8.0 | 6.28 | -8.45 | 25.85 | 66.17 | 4.47 | -23.03 | 99.44 | 4.22 | -7.5 | 0.56 | -87.71 | 107.53 | 4.42 | 3.27 | -5.76 |
| 20Q4 (8) | 12.96 | 6.75 | 3.51 | 3.99 | 17.35 | 9.62 | 4.18 | 24.04 | 9.71 | 3.31 | 23.97 | 6.43 | 3.57 | 12.26 | -2.72 | 2.13 | 20.34 | 4.41 | 0.63 | -1.56 | 0.0 | 6.86 | 10.11 | 2.08 | 63.34 | -23.87 | -25.9 | 95.40 | -5.41 | -0.14 | 4.60 | 634.57 | 2.99 | 4.28 | -9.7 | -17.05 |
| 20Q3 (7) | 12.14 | 4.21 | 3.76 | 3.40 | -6.85 | 53.85 | 3.37 | -14.25 | 58.96 | 2.67 | -20.06 | 62.8 | 3.18 | -19.9 | 102.55 | 1.77 | -18.81 | 94.51 | 0.64 | 1.59 | 25.49 | 6.23 | -9.05 | 11.25 | 83.20 | -8.04 | -6.58 | 100.86 | 8.45 | -3.75 | -0.86 | -111.86 | 79.49 | 4.74 | 5.57 | -4.44 |
| 20Q2 (6) | 11.65 | 12.24 | 3.74 | 3.65 | 129.56 | 31.29 | 3.93 | 165.54 | 44.49 | 3.34 | 190.43 | 59.81 | 3.97 | 271.03 | 82.95 | 2.18 | 240.62 | 71.65 | 0.63 | 26.0 | 10.53 | 6.85 | 37.27 | 17.09 | 90.47 | 5.23 | 5.08 | 93.00 | -13.49 | -8.93 | 7.25 | 196.67 | 442.2 | 4.49 | -4.26 | -4.26 |
| 20Q1 (5) | 10.38 | -17.09 | -10.21 | 1.59 | -56.32 | -20.9 | 1.48 | -61.15 | -24.1 | 1.15 | -63.02 | -25.32 | 1.07 | -70.84 | -17.05 | 0.64 | -68.63 | -28.09 | 0.50 | -20.63 | -5.66 | 4.99 | -25.74 | -14.55 | 85.97 | 0.57 | 12.95 | 107.50 | 12.52 | 4.51 | -7.50 | -268.09 | -162.5 | 4.69 | -9.11 | -5.25 |
| 19Q4 (4) | 12.52 | 7.01 | 0.0 | 3.64 | 64.71 | 0.0 | 3.81 | 79.72 | 0.0 | 3.11 | 89.63 | 0.0 | 3.67 | 133.76 | 0.0 | 2.04 | 124.18 | 0.0 | 0.63 | 23.53 | 0.0 | 6.72 | 20.0 | 0.0 | 85.48 | -4.02 | 0.0 | 95.54 | -8.83 | 0.0 | 4.46 | 206.45 | 0.0 | 5.16 | 4.03 | 0.0 |
| 19Q3 (3) | 11.70 | 4.19 | 0.0 | 2.21 | -20.5 | 0.0 | 2.12 | -22.06 | 0.0 | 1.64 | -21.53 | 0.0 | 1.57 | -27.65 | 0.0 | 0.91 | -28.35 | 0.0 | 0.51 | -10.53 | 0.0 | 5.60 | -4.27 | 0.0 | 89.06 | 3.44 | 0.0 | 104.79 | 2.62 | 0.0 | -4.19 | -97.84 | 0.0 | 4.96 | 5.76 | 0.0 |
| 19Q2 (2) | 11.23 | -2.85 | 0.0 | 2.78 | 38.31 | 0.0 | 2.72 | 39.49 | 0.0 | 2.09 | 35.71 | 0.0 | 2.17 | 68.22 | 0.0 | 1.27 | 42.7 | 0.0 | 0.57 | 7.55 | 0.0 | 5.85 | 0.17 | 0.0 | 86.10 | 13.13 | 0.0 | 102.12 | -0.72 | 0.0 | -2.12 | 25.85 | 0.0 | 4.69 | -5.25 | 0.0 |
| 19Q1 (1) | 11.56 | 0.0 | 0.0 | 2.01 | 0.0 | 0.0 | 1.95 | 0.0 | 0.0 | 1.54 | 0.0 | 0.0 | 1.29 | 0.0 | 0.0 | 0.89 | 0.0 | 0.0 | 0.53 | 0.0 | 0.0 | 5.84 | 0.0 | 0.0 | 76.11 | 0.0 | 0.0 | 102.86 | 0.0 | 0.0 | -2.86 | 0.0 | 0.0 | 4.95 | 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) | 11.60 | -4.37 | 4.31 | 3.86 | 1.89 | -19.86 | 4.41 | 4.75 | 3.52 | 5.07 | 14.29 | 15.99 | 8.13 | 14.19 | 2.27 | 9.13 | 6.39 | -4.05 | 73.73 | -12.77 | 97.68 | -0.98 | 2.32 | 71.68 | 0.01 | 1.4 | 4.20 | -5.19 |
| 2022 (9) | 12.13 | 0.66 | 4.15 | 12.47 | 2.36 | -10.12 | 4.21 | 13.17 | 3.35 | 13.95 | 12.32 | 14.6 | 7.12 | 7.23 | 2.08 | -5.45 | 6.66 | 3.26 | 84.52 | 23.64 | 98.65 | -0.52 | 1.35 | 62.52 | 0.01 | -65.05 | 4.43 | -1.77 |
| 2021 (8) | 12.05 | 1.43 | 3.69 | 12.84 | 2.62 | -6.75 | 3.72 | 11.04 | 2.94 | 8.49 | 10.75 | 0.19 | 6.64 | 3.11 | 2.20 | -3.93 | 6.45 | 2.22 | 68.36 | 7.93 | 99.17 | 1.78 | 0.83 | -67.62 | 0.03 | -41.21 | 4.51 | -0.66 |
| 2020 (7) | 11.88 | 0.76 | 3.27 | 18.91 | 2.81 | -9.23 | 3.35 | 22.26 | 2.71 | 24.88 | 10.73 | 25.5 | 6.44 | 16.67 | 2.29 | -4.58 | 6.31 | 4.64 | 63.34 | -25.9 | 97.44 | -2.98 | 2.56 | 0 | 0.04 | -31.13 | 4.54 | -8.28 |
| 2019 (6) | 11.79 | 1.81 | 2.75 | -5.5 | 3.10 | 86.93 | 2.74 | -8.97 | 2.17 | -7.26 | 8.55 | -5.21 | 5.52 | -14.15 | 2.40 | -12.41 | 6.03 | 27.48 | 85.48 | 100.85 | 100.43 | 3.95 | -0.43 | 0 | 0.06 | -41.53 | 4.95 | 1.85 |
| 2018 (5) | 11.58 | -1.61 | 2.91 | -17.56 | 1.66 | 19.85 | 3.01 | -18.87 | 2.34 | -15.83 | 9.02 | -24.77 | 6.43 | -25.58 | 2.74 | -11.61 | 4.73 | -7.25 | 42.56 | 11.65 | 96.62 | 1.57 | 3.49 | -28.54 | 0.11 | 0 | 4.86 | 2.1 |
| 2017 (4) | 11.77 | 3.52 | 3.53 | -13.48 | 1.38 | 28.87 | 3.71 | -13.32 | 2.78 | -12.3 | 11.99 | -29.05 | 8.64 | -26.59 | 3.10 | -15.07 | 5.10 | -5.56 | 38.12 | -5.17 | 95.12 | -0.39 | 4.88 | 8.15 | 0.00 | 0 | 4.76 | 9.43 |
| 2016 (3) | 11.37 | 10.93 | 4.08 | -2.86 | 1.07 | 51.18 | 4.28 | -4.89 | 3.17 | -4.52 | 16.90 | -24.59 | 11.77 | -19.93 | 3.65 | -13.71 | 5.40 | 3.05 | 40.20 | -16.42 | 95.49 | 2.27 | 4.51 | -31.98 | 0.00 | 0 | 4.35 | 17.25 |
| 2015 (2) | 10.25 | -8.4 | 4.20 | -7.49 | 0.71 | -13.56 | 4.50 | -30.88 | 3.32 | -37.59 | 22.41 | -34.78 | 14.70 | -36.75 | 4.23 | 2.67 | 5.24 | -29.0 | 48.10 | -16.55 | 93.37 | 33.96 | 6.63 | -78.07 | 0.00 | 0 | 3.71 | -3.64 |
| 2014 (1) | 11.19 | 0 | 4.54 | 0 | 0.82 | 0 | 6.51 | 0 | 5.32 | 0 | 34.36 | 0 | 23.24 | 0 | 4.12 | -12.53 | 7.38 | 0 | 57.64 | 45.63 | 69.70 | -2.77 | 30.26 | 7.09 | 0.00 | 0 | 3.85 | 0 |
