- 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) | 23.26 | -8.96 | -14.42 | 11.38 | 23.97 | -25.62 | 7.62 | 431.3 | -78.87 | 4.89 | 187.17 | -84.02 | 1.89 | 180.08 | -87.2 | 0.76 | 445.45 | -78.95 | 0.09 | 0.0 | -18.18 | 26.85 | 70.48 | -44.12 | 314.39 | -8.7 | 3.58 | 149.65 | 137.62 | 252.32 | -49.65 | -109.97 | -186.31 | 16.24 | -5.86 | -48.23 |
| 23Q3 (19) | 25.55 | -2.59 | -2.41 | 9.18 | 0.88 | -37.59 | -2.30 | -132.35 | -109.01 | -5.61 | -333.75 | -121.41 | -2.36 | -336.0 | -115.15 | -0.22 | -143.14 | -106.65 | 0.09 | 0.0 | -25.0 | 15.75 | -33.29 | -57.32 | 344.33 | -0.38 | -8.11 | -397.78 | -410.46 | -790.88 | 497.78 | 1869.88 | 1073.33 | 17.25 | -4.06 | 12.6 |
| 23Q2 (18) | 26.23 | -3.95 | -15.36 | 9.10 | -25.59 | -58.05 | 7.11 | -49.32 | 155.29 | 2.40 | -72.97 | 112.4 | 1.00 | -69.51 | 110.11 | 0.51 | -48.48 | 124.4 | 0.09 | 12.5 | -25.0 | 23.61 | -24.18 | 531.63 | 345.66 | -8.67 | -21.88 | 128.12 | 46.91 | 176.05 | -28.12 | -319.98 | -110.49 | 17.98 | -7.32 | 71.56 |
| 23Q1 (17) | 27.31 | 0.48 | 15.62 | 12.23 | -20.07 | -0.49 | 14.03 | -61.09 | 177.64 | 8.88 | -70.99 | 148.37 | 3.28 | -77.78 | 149.55 | 0.99 | -72.58 | 156.25 | 0.08 | -27.27 | -27.27 | 31.14 | -35.19 | 490.72 | 378.49 | 24.7 | 49.02 | 87.21 | 105.33 | 228.33 | 12.79 | -77.77 | -92.37 | 19.40 | -38.16 | 32.79 |
| 22Q4 (16) | 27.18 | 3.82 | 12.04 | 15.30 | 4.01 | 49.41 | 36.06 | 41.25 | 181.06 | 30.61 | 16.83 | 188.23 | 14.76 | -5.26 | 298.92 | 3.61 | 9.06 | 177.69 | 0.11 | -8.33 | 0.0 | 48.05 | 30.22 | 95.33 | 303.52 | -19.0 | 31.14 | 42.48 | -26.23 | -46.78 | 57.52 | 35.59 | 185.01 | 31.37 | 104.77 | 95.45 |
| 22Q3 (15) | 26.18 | -15.52 | 15.13 | 14.71 | -32.18 | 47.39 | 25.53 | 298.52 | -39.04 | 26.20 | 235.33 | -21.04 | 15.58 | 257.53 | 26.46 | 3.31 | 258.37 | -20.62 | 0.12 | 0.0 | 0.0 | 36.90 | 774.59 | -25.83 | 374.73 | -15.31 | 68.93 | 57.58 | 134.17 | 141.39 | 42.42 | -84.18 | -44.29 | 15.32 | 46.18 | -3.04 |
| 22Q2 (14) | 30.99 | 31.2 | 56.04 | 21.69 | 76.48 | 1023.83 | -12.86 | 28.83 | -111.51 | -19.36 | -5.45 | -94.96 | -9.89 | -49.4 | -152.3 | -2.09 | -18.75 | -71.31 | 0.12 | 9.09 | -14.29 | -5.47 | 31.37 | -229.62 | 442.48 | 74.22 | 131.68 | -168.48 | -147.91 | -428.69 | 268.09 | 59.92 | 103.3 | 10.48 | -28.27 | -54.81 |
| 22Q1 (13) | 23.62 | -2.64 | -9.92 | 12.29 | 20.02 | 122.64 | -18.07 | -240.84 | -168.37 | -18.36 | -272.88 | -183.42 | -6.62 | -278.92 | -184.87 | -1.76 | -235.38 | -158.86 | 0.11 | 0.0 | -15.38 | -7.97 | -132.4 | -122.16 | 253.98 | 9.73 | 37.67 | -67.96 | -185.15 | -427.18 | 167.64 | 730.57 | 111.59 | 14.61 | -8.97 | -43.0 |
| 21Q4 (12) | 24.26 | 6.68 | -6.01 | 10.24 | 2.61 | 54.68 | 12.83 | -69.36 | -67.67 | 10.62 | -67.99 | -69.48 | 3.70 | -69.97 | -74.05 | 1.30 | -68.82 | -77.47 | 0.11 | -8.33 | -31.25 | 24.60 | -50.55 | -48.32 | 231.45 | 4.34 | 41.18 | 79.82 | 234.63 | 377.06 | 20.18 | -73.49 | -75.76 | 16.05 | 1.58 | -6.03 |
| 21Q3 (11) | 22.74 | 14.5 | 3.27 | 9.98 | 417.1 | -18.6 | 41.88 | 788.82 | 77.99 | 33.18 | 434.14 | 74.36 | 12.32 | 414.29 | 67.16 | 4.17 | 441.8 | 25.98 | 0.12 | -14.29 | -29.41 | 49.75 | 1078.91 | 59.05 | 221.83 | 16.15 | 57.38 | 23.85 | 174.85 | -54.16 | 76.15 | -42.25 | 58.74 | 15.80 | -31.87 | 42.34 |
| 21Q2 (10) | 19.86 | -24.26 | 30.23 | 1.93 | -65.04 | -68.36 | -6.08 | -123.0 | -199.35 | -9.93 | -145.12 | -247.77 | -3.92 | -150.26 | -256.18 | -1.22 | -140.8 | -196.83 | 0.14 | 7.69 | -22.22 | 4.22 | -88.27 | -74.24 | 190.99 | 3.53 | 63.16 | -31.87 | -253.42 | -131.87 | 131.87 | 66.44 | 0 | 23.19 | -9.52 | 0 |
| 21Q1 (9) | 26.22 | 1.59 | 57.95 | 5.52 | -16.62 | 24.32 | 26.43 | -33.39 | 228.3 | 22.01 | -36.75 | 192.63 | 7.80 | -45.3 | 189.14 | 2.99 | -48.18 | 167.65 | 0.13 | -18.75 | -31.58 | 35.97 | -24.43 | 451.96 | 184.48 | 12.53 | 72.8 | 20.77 | 24.15 | 196.65 | 79.23 | -4.85 | -34.79 | 25.63 | 50.06 | 66.0 |
| 20Q4 (8) | 25.81 | 17.21 | 217.47 | 6.62 | -46.0 | 150.69 | 39.68 | 68.64 | 648.68 | 34.80 | 82.87 | 664.84 | 14.26 | 93.49 | 820.0 | 5.77 | 74.32 | 534.07 | 0.16 | -5.88 | -15.79 | 47.60 | 52.17 | 149.74 | 163.94 | 16.31 | 96.45 | 16.73 | -67.84 | 106.74 | 83.27 | 73.58 | -76.08 | 17.08 | 53.87 | -35.38 |
| 20Q3 (7) | 22.02 | 44.39 | 25.9 | 12.26 | 100.98 | 182.49 | 23.53 | 284.48 | 104.97 | 19.03 | 183.18 | 86.75 | 7.37 | 193.63 | 98.12 | 3.31 | 162.7 | 62.25 | 0.17 | -5.56 | -10.53 | 31.28 | 90.96 | 69.54 | 140.95 | 20.41 | 65.65 | 52.03 | -47.97 | 37.17 | 47.97 | 0 | -22.71 | 11.10 | 0 | -32.4 |
| 20Q2 (6) | 15.25 | -8.13 | -44.06 | 6.10 | 37.39 | -41.12 | 6.12 | 129.71 | -70.19 | 6.72 | 128.28 | -56.73 | 2.51 | 128.69 | -41.36 | 1.26 | 128.51 | -48.36 | 0.18 | -5.26 | 20.0 | 16.38 | 260.27 | -38.63 | 117.06 | 9.65 | 27.45 | 100.00 | 565.31 | 98.67 | 0.00 | -100.0 | -100.0 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 16.60 | 104.18 | -23.71 | 4.44 | 134.0 | 44.63 | -20.60 | -488.68 | -364.78 | -23.76 | -622.2 | -438.94 | -8.75 | -664.52 | -555.73 | -4.42 | -585.71 | -448.03 | 0.19 | 0.0 | 11.76 | -10.22 | -153.62 | -171.22 | 106.76 | 27.93 | 58.26 | -21.49 | 91.34 | -153.73 | 121.49 | -65.1 | 102.49 | 15.44 | -41.58 | -8.53 |
| 19Q4 (4) | 8.13 | -53.52 | 0.0 | -13.06 | -400.92 | 0.0 | 5.30 | -53.83 | 0.0 | 4.55 | -55.35 | 0.0 | 1.55 | -58.33 | 0.0 | 0.91 | -55.39 | 0.0 | 0.19 | 0.0 | 0.0 | 19.06 | 3.31 | 0.0 | 83.45 | -1.93 | 0.0 | -248.15 | -754.21 | 0.0 | 348.15 | 460.91 | 0.0 | 26.43 | 60.96 | 0.0 |
| 19Q3 (3) | 17.49 | -35.84 | 0.0 | 4.34 | -58.11 | 0.0 | 11.48 | -44.08 | 0.0 | 10.19 | -34.39 | 0.0 | 3.72 | -13.08 | 0.0 | 2.04 | -16.39 | 0.0 | 0.19 | 26.67 | 0.0 | 18.45 | -30.87 | 0.0 | 85.09 | -7.36 | 0.0 | 37.93 | -24.64 | 0.0 | 62.07 | 24.98 | 0.0 | 16.42 | 16.37 | 0.0 |
| 19Q2 (2) | 27.26 | 25.28 | 0.0 | 10.36 | 237.46 | 0.0 | 20.53 | 163.88 | 0.0 | 15.53 | 121.54 | 0.0 | 4.28 | 122.92 | 0.0 | 2.44 | 92.13 | 0.0 | 0.15 | -11.76 | 0.0 | 26.69 | 85.99 | 0.0 | 91.85 | 36.15 | 0.0 | 50.34 | 25.84 | 0.0 | 49.66 | -17.23 | 0.0 | 14.11 | -16.41 | 0.0 |
| 19Q1 (1) | 21.76 | 0.0 | 0.0 | 3.07 | 0.0 | 0.0 | 7.78 | 0.0 | 0.0 | 7.01 | 0.0 | 0.0 | 1.92 | 0.0 | 0.0 | 1.27 | 0.0 | 0.0 | 0.17 | 0.0 | 0.0 | 14.35 | 0.0 | 0.0 | 67.46 | 0.0 | 0.0 | 40.00 | 0.0 | 0.0 | 60.00 | 0.0 | 0.0 | 16.88 | 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) | 25.51 | -5.9 | 10.40 | -35.52 | 12.96 | 76.6 | 6.19 | -28.85 | 2.28 | -60.42 | 3.46 | -63.88 | 2.06 | -40.29 | 0.37 | -17.78 | 23.96 | 26.57 | 314.39 | 3.58 | 167.94 | -9.3 | -67.94 | 0 | 3.45 | 24.06 | 17.63 | -2.06 |
| 2022 (9) | 27.11 | 16.9 | 16.13 | 125.91 | 7.34 | -7.68 | 8.70 | -53.58 | 5.76 | -58.68 | 9.58 | -52.95 | 3.45 | -53.06 | 0.45 | -6.25 | 18.93 | -33.93 | 303.52 | 31.14 | 185.16 | 385.95 | -85.31 | 0 | 2.78 | -9.72 | 18.00 | -8.86 |
| 2021 (8) | 23.19 | 14.75 | 7.14 | -3.12 | 7.95 | -2.39 | 18.74 | 38.71 | 13.94 | 33.78 | 20.36 | 37.57 | 7.35 | 6.21 | 0.48 | -23.81 | 28.65 | 27.22 | 231.45 | 41.18 | 38.10 | -30.11 | 61.90 | 36.56 | 3.08 | 60.94 | 19.75 | 43.95 |
| 2020 (7) | 20.21 | 14.44 | 7.37 | 3409.52 | 8.14 | 1.24 | 13.51 | 25.09 | 10.42 | 15.91 | 14.80 | 35.16 | 6.92 | 2.22 | 0.63 | -12.5 | 22.52 | 15.25 | 163.94 | 96.45 | 54.52 | 2820.53 | 45.32 | -53.69 | 1.91 | -13.81 | 13.72 | -27.71 |
| 2019 (6) | 17.66 | -18.99 | 0.21 | -97.66 | 8.04 | 58.98 | 10.80 | 52.97 | 8.99 | 78.02 | 10.95 | 89.77 | 6.77 | 57.08 | 0.72 | -13.25 | 19.54 | 57.07 | 83.45 | 66.43 | 1.87 | -98.54 | 97.87 | 0 | 2.22 | -24.16 | 18.98 | 38.34 |
| 2018 (5) | 21.80 | 27.63 | 8.99 | 0 | 5.06 | -54.88 | 7.06 | 0 | 5.05 | 0 | 5.77 | 0 | 4.31 | 0 | 0.83 | 93.02 | 12.44 | 75.71 | 50.14 | 97.01 | 127.45 | 935.54 | -27.45 | 0 | 2.92 | 0 | 13.72 | -23.22 |
| 2017 (4) | 17.08 | 321.73 | -0.55 | 0 | 11.21 | -34.9 | -4.57 | 0 | -6.21 | 0 | -3.11 | 0 | -2.57 | 0 | 0.43 | 34.37 | 7.08 | 0 | 25.45 | 140.55 | 12.31 | -83.0 | 87.69 | 217.55 | 0.00 | 0 | 17.87 | -8.03 |
| 2016 (3) | 4.05 | -68.58 | -14.47 | 0 | 17.22 | -0.86 | -20.00 | 0 | -19.95 | 0 | -6.98 | 0 | -6.35 | 0 | 0.32 | -11.11 | -2.59 | 0 | 10.58 | 13.64 | 72.38 | -18.01 | 27.62 | 118.95 | 0.00 | 0 | 19.43 | -0.82 |
| 2015 (2) | 12.89 | -31.36 | -6.59 | 0 | 17.37 | 8.48 | -7.51 | 0 | -8.69 | 0 | -3.44 | 0 | -3.16 | 0 | 0.36 | -12.2 | 10.24 | -51.63 | 9.31 | 6.52 | 88.29 | 103.55 | 12.61 | -77.73 | 0.00 | 0 | 19.59 | 17.1 |
| 2014 (1) | 18.78 | 0 | 2.05 | 0 | 16.02 | -9.6 | 4.71 | 0 | 3.21 | 0 | 1.44 | 0 | 1.32 | 0 | 0.41 | 5.13 | 21.17 | -4.42 | 8.74 | -8.77 | 43.37 | 40.45 | 56.63 | -18.07 | 0.00 | 0 | 16.73 | -3.13 |
