- 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) | 28.46 | -10.25 | -24.03 | -2.22 | -309.43 | -144.58 | -1.07 | -200.94 | -123.21 | -0.16 | -117.58 | -103.44 | -0.03 | -115.79 | -103.37 | 0.11 | -50.0 | -78.43 | 0.10 | -9.09 | -9.09 | 16.08 | -9.56 | 0.69 | 89.91 | -4.25 | 13.44 | 206.80 | 105.8 | 91.67 | -106.80 | -21900.0 | -1253.26 | 21.75 | 1.16 | 0.32 |
| 23Q3 (19) | 31.71 | 1.21 | -30.37 | 1.06 | 164.24 | -93.24 | 1.06 | -4.5 | -93.65 | 0.91 | -69.97 | -93.56 | 0.19 | -67.8 | -94.14 | 0.22 | -47.62 | -87.5 | 0.11 | 10.0 | -8.33 | 17.78 | -2.47 | -32.83 | 93.90 | 6.67 | 16.91 | 100.49 | 168.07 | 6.85 | -0.49 | -100.2 | -108.11 | 21.50 | -5.29 | -0.19 |
| 23Q2 (18) | 31.33 | 12.94 | -35.23 | -1.65 | 73.77 | -107.58 | 1.11 | 121.43 | -95.83 | 3.03 | 177.69 | -86.12 | 0.59 | 186.76 | -90.68 | 0.42 | 240.0 | -87.5 | 0.10 | 0.0 | -33.33 | 18.23 | 47.13 | -50.07 | 88.03 | 1.39 | -2.79 | -147.62 | -221.74 | -280.64 | 247.62 | 1258.96 | 1255.79 | 22.70 | -3.94 | 9.66 |
| 23Q1 (17) | 27.74 | -25.95 | -42.89 | -6.29 | -226.31 | -126.45 | -5.18 | -212.36 | -121.56 | -3.90 | -183.87 | -120.09 | -0.68 | -176.4 | -111.89 | -0.30 | -158.82 | -109.32 | 0.10 | -9.09 | -41.18 | 12.39 | -22.42 | -63.61 | 86.82 | 9.54 | -0.69 | 121.26 | 12.39 | 22.51 | -21.37 | -170.73 | -2193.83 | 23.63 | 8.99 | 19.28 |
| 22Q4 (16) | 37.46 | -17.74 | -16.92 | 4.98 | -68.24 | -76.72 | 4.61 | -72.36 | -78.43 | 4.65 | -67.09 | -74.41 | 0.89 | -72.53 | -83.7 | 0.51 | -71.02 | -84.21 | 0.11 | -8.33 | -38.89 | 15.97 | -39.67 | -51.8 | 79.26 | -1.32 | 13.8 | 107.89 | 14.73 | 7.76 | -7.89 | -231.87 | -6161.56 | 21.68 | 0.65 | 50.24 |
| 22Q3 (15) | 45.54 | -5.85 | 1.7 | 15.68 | -27.94 | -28.79 | 16.68 | -37.36 | -21.84 | 14.13 | -35.27 | -20.26 | 3.24 | -48.82 | -43.94 | 1.76 | -47.62 | -48.99 | 0.12 | -20.0 | -36.84 | 26.47 | -27.5 | -20.17 | 80.32 | -11.31 | 15.75 | 94.04 | 15.08 | -8.87 | 5.98 | -67.23 | 287.46 | 21.54 | 4.06 | 16.94 |
| 22Q2 (14) | 48.37 | -0.41 | 14.57 | 21.76 | -8.49 | 18.78 | 26.63 | 10.82 | 42.64 | 21.83 | 12.47 | 45.73 | 6.33 | 10.66 | 30.79 | 3.36 | 4.35 | 17.07 | 0.15 | -11.76 | -21.05 | 36.51 | 7.22 | 19.98 | 90.56 | 3.59 | 31.99 | 81.72 | -17.44 | -16.7 | 18.26 | 1689.85 | 866.75 | 20.70 | 4.49 | 13.36 |
| 22Q1 (13) | 48.57 | 7.72 | 29.31 | 23.78 | 11.17 | 120.8 | 24.03 | 12.45 | 133.53 | 19.41 | 6.82 | 142.32 | 5.72 | 4.76 | 141.35 | 3.22 | -0.31 | 131.65 | 0.17 | -5.56 | 0.0 | 34.05 | 2.78 | 50.13 | 87.42 | 25.51 | 17.86 | 98.98 | -1.15 | -5.42 | 1.02 | 909.62 | 121.95 | 19.81 | 37.28 | 5.94 |
| 21Q4 (12) | 45.09 | 0.69 | 48.18 | 21.39 | -2.86 | 617.79 | 21.37 | 0.14 | 761.69 | 18.17 | 2.54 | 861.38 | 5.46 | -5.54 | 857.89 | 3.23 | -6.38 | 772.97 | 0.18 | -5.26 | 12.5 | 33.13 | -0.09 | 115.97 | 69.65 | 0.37 | -11.33 | 100.13 | -2.97 | -16.7 | -0.13 | 96.05 | 99.38 | 14.43 | -21.66 | -21.1 |
| 21Q3 (11) | 44.78 | 6.06 | 66.1 | 22.02 | 20.2 | 3045.71 | 21.34 | 14.3 | 597.39 | 17.72 | 18.29 | 654.04 | 5.78 | 19.42 | 863.33 | 3.45 | 20.21 | 784.62 | 0.19 | 0.0 | 35.71 | 33.16 | 8.97 | 82.0 | 69.39 | 1.14 | -24.03 | 103.19 | 5.18 | 347.47 | -3.19 | -268.97 | -104.15 | 18.42 | 0.88 | 16.8 |
| 21Q2 (10) | 42.22 | 12.41 | 44.05 | 18.32 | 70.1 | 166.67 | 18.67 | 81.44 | 170.97 | 14.98 | 87.02 | 128.01 | 4.84 | 104.22 | 253.28 | 2.87 | 106.47 | 226.14 | 0.19 | 11.76 | 46.15 | 30.43 | 34.17 | 20.32 | 68.61 | -7.5 | 2.79 | 98.11 | -6.25 | -1.67 | 1.89 | 140.64 | 729.36 | 18.26 | -2.35 | 1.84 |
| 21Q1 (9) | 37.56 | 23.43 | 55.66 | 10.77 | 261.41 | 3746.43 | 10.29 | 314.92 | 2041.51 | 8.01 | 323.81 | 1228.17 | 2.37 | 315.79 | 1923.08 | 1.39 | 275.68 | 4733.33 | 0.17 | 6.25 | 54.55 | 22.68 | 47.85 | 13.74 | 74.17 | -5.58 | 12.98 | 104.65 | -12.94 | 299.49 | -4.65 | 76.98 | -103.05 | 18.70 | 2.24 | 4.7 |
| 20Q4 (8) | 30.43 | 12.87 | 37.57 | 2.98 | 325.71 | 370.91 | 2.48 | -18.95 | 235.52 | 1.89 | -19.57 | 260.17 | 0.57 | -5.0 | 347.83 | 0.37 | -5.13 | 511.11 | 0.16 | 14.29 | 33.33 | 15.34 | -15.81 | -9.34 | 78.55 | -14.0 | 22.5 | 120.20 | 421.21 | 100.04 | -20.20 | -126.25 | -151.17 | 18.29 | 15.98 | 11.32 |
| 20Q3 (7) | 26.96 | -8.02 | 1.77 | 0.70 | -89.81 | -81.03 | 3.06 | -55.59 | -45.16 | 2.35 | -64.23 | -52.24 | 0.60 | -56.2 | -44.95 | 0.39 | -55.68 | -43.48 | 0.14 | 7.69 | 7.69 | 18.22 | -27.96 | -19.27 | 91.34 | 36.84 | 41.31 | 23.06 | -76.89 | -65.18 | 76.94 | 33676.12 | 127.78 | 15.77 | -12.05 | -5.91 |
| 20Q2 (6) | 29.31 | 21.47 | 11.57 | 6.87 | 2353.57 | 236.76 | 6.89 | 1400.0 | 29.76 | 6.57 | 1025.35 | 47.64 | 1.37 | 1153.85 | 61.18 | 0.88 | 3033.33 | 54.39 | 0.13 | 18.18 | 8.33 | 25.29 | 26.83 | 5.07 | 66.75 | 1.68 | -6.47 | 99.77 | 290.19 | 159.41 | 0.23 | -99.85 | -99.63 | 17.93 | 0.39 | -2.45 |
| 20Q1 (5) | 24.13 | 9.09 | -23.83 | 0.28 | 125.45 | -95.33 | -0.53 | 71.04 | -109.71 | -0.71 | 39.83 | -118.07 | -0.13 | 43.48 | -119.7 | -0.03 | 66.67 | -106.38 | 0.11 | -8.33 | 0.0 | 19.94 | 17.85 | -20.24 | 65.65 | 2.39 | 27.67 | -52.46 | -187.3 | -147.79 | 152.46 | 286.23 | 1661.39 | 17.86 | 8.7 | -8.32 |
| 19Q4 (4) | 22.12 | -16.5 | 0.0 | -1.10 | -129.81 | 0.0 | -1.83 | -132.8 | 0.0 | -1.18 | -123.98 | 0.0 | -0.23 | -121.1 | 0.0 | -0.09 | -113.04 | 0.0 | 0.12 | -7.69 | 0.0 | 16.92 | -25.03 | 0.0 | 64.12 | -0.8 | 0.0 | 60.09 | -9.26 | 0.0 | 39.47 | 16.86 | 0.0 | 16.43 | -1.97 | 0.0 |
| 19Q3 (3) | 26.49 | 0.84 | 0.0 | 3.69 | 80.88 | 0.0 | 5.58 | 5.08 | 0.0 | 4.92 | 10.56 | 0.0 | 1.09 | 28.24 | 0.0 | 0.69 | 21.05 | 0.0 | 0.13 | 8.33 | 0.0 | 22.57 | -6.23 | 0.0 | 64.64 | -9.43 | 0.0 | 66.22 | 72.18 | 0.0 | 33.78 | -45.25 | 0.0 | 16.76 | -8.81 | 0.0 |
| 19Q2 (2) | 26.27 | -17.08 | 0.0 | 2.04 | -65.94 | 0.0 | 5.31 | -2.75 | 0.0 | 4.45 | 13.23 | 0.0 | 0.85 | 28.79 | 0.0 | 0.57 | 21.28 | 0.0 | 0.12 | 9.09 | 0.0 | 24.07 | -3.72 | 0.0 | 71.37 | 38.8 | 0.0 | 38.46 | -64.96 | 0.0 | 61.70 | 731.85 | 0.0 | 18.38 | -5.65 | 0.0 |
| 19Q1 (1) | 31.68 | 0.0 | 0.0 | 5.99 | 0.0 | 0.0 | 5.46 | 0.0 | 0.0 | 3.93 | 0.0 | 0.0 | 0.66 | 0.0 | 0.0 | 0.47 | 0.0 | 0.0 | 0.11 | 0.0 | 0.0 | 25.00 | 0.0 | 0.0 | 51.42 | 0.0 | 0.0 | 109.76 | 0.0 | 0.0 | -9.76 | 0.0 | 0.0 | 19.48 | 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) | 29.86 | -34.43 | -2.17 | 0 | 15.29 | 57.2 | -0.93 | 0 | 0.05 | -99.68 | 0.03 | -99.81 | 0.44 | -95.08 | 0.40 | -28.57 | 16.20 | -44.69 | 89.91 | 13.44 | 233.52 | 154.86 | -133.67 | 0 | 0.32 | -25.54 | 22.36 | 7.24 |
| 2022 (9) | 45.54 | 6.75 | 17.49 | -5.51 | 9.73 | -14.76 | 19.09 | 4.32 | 15.85 | 5.25 | 15.55 | -16.76 | 8.94 | -17.83 | 0.56 | -21.13 | 29.29 | -3.05 | 79.26 | 13.8 | 91.63 | -9.39 | 8.38 | 0 | 0.43 | -39.48 | 20.85 | 19.83 |
| 2021 (8) | 42.66 | 51.92 | 18.51 | 590.67 | 11.41 | -25.07 | 18.30 | 512.04 | 15.06 | 502.4 | 18.68 | 726.55 | 10.88 | 615.79 | 0.71 | 33.96 | 30.21 | 58.42 | 69.65 | -11.33 | 101.12 | 12.62 | -1.12 | 0 | 0.70 | -0.62 | 17.40 | -0.4 |
| 2020 (7) | 28.08 | 6.04 | 2.68 | 4.28 | 15.23 | -14.3 | 2.99 | -16.71 | 2.50 | -17.49 | 2.26 | -2.16 | 1.52 | -7.88 | 0.53 | 8.16 | 19.07 | -13.48 | 78.55 | 22.5 | 89.79 | 25.42 | 10.21 | -63.99 | 0.71 | 81.59 | 17.47 | -1.19 |
| 2019 (6) | 26.48 | -29.22 | 2.57 | -83.4 | 17.77 | 21.59 | 3.59 | -78.11 | 3.03 | -79.93 | 2.31 | -81.23 | 1.65 | -80.7 | 0.49 | -12.5 | 22.04 | -30.19 | 64.12 | 27.42 | 71.59 | -24.18 | 28.35 | 408.57 | 0.39 | 63.27 | 17.68 | -3.39 |
| 2018 (5) | 37.41 | 9.07 | 15.48 | 10.65 | 14.61 | 16.29 | 16.40 | 9.99 | 15.10 | 23.37 | 12.31 | 12.94 | 8.55 | 13.4 | 0.56 | -8.2 | 31.57 | 13.32 | 50.32 | 17.08 | 94.43 | 0.7 | 5.57 | -10.48 | 0.24 | 0 | 18.30 | 2.23 |
| 2017 (4) | 34.30 | 20.14 | 13.99 | 58.62 | 12.57 | -5.05 | 14.91 | 67.15 | 12.24 | 64.08 | 10.90 | 48.1 | 7.54 | 49.31 | 0.61 | -4.69 | 27.86 | 21.98 | 42.98 | -14.64 | 93.77 | -5.17 | 6.23 | 456.73 | 0.00 | 0 | 17.90 | 5.85 |
| 2016 (3) | 28.55 | -7.4 | 8.82 | -17.65 | 13.24 | -11.8 | 8.92 | -19.49 | 7.46 | -17.66 | 7.36 | -15.89 | 5.05 | -12.78 | 0.64 | 6.67 | 22.84 | -15.53 | 50.35 | -10.27 | 98.88 | 2.23 | 1.12 | -65.82 | 0.00 | 0 | 16.91 | 1.02 |
| 2015 (2) | 30.83 | 8.56 | 10.71 | 11.21 | 15.01 | 19.79 | 11.08 | 6.85 | 9.06 | 7.22 | 8.75 | 2.46 | 5.79 | 3.95 | 0.60 | -4.76 | 27.04 | 14.24 | 56.11 | -13.66 | 96.73 | 4.21 | 3.27 | -54.43 | 0.00 | 0 | 16.74 | 7.45 |
| 2014 (1) | 28.40 | 0 | 9.63 | 0 | 12.53 | -33.88 | 10.37 | 0 | 8.45 | 0 | 8.54 | 0 | 5.57 | 0 | 0.63 | 6.78 | 23.67 | 7.93 | 64.99 | 17.84 | 92.82 | -32.18 | 7.18 | 0 | 0.00 | 0 | 15.58 | 0.39 |
