- 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) | 16.20 | -2.59 | 3.71 | 1.71 | -36.19 | -34.98 | 1.70 | -59.72 | -16.26 | 1.33 | -56.82 | -26.52 | 1.05 | -55.13 | -30.0 | 0.55 | -45.0 | -14.06 | 0.27 | 3.85 | 0.0 | 5.38 | -32.16 | 3.46 | 193.98 | -0.38 | 5.02 | 100.70 | 58.5 | -22.21 | -0.58 | -101.59 | 98.02 | 13.38 | 0.22 | 7.73 |
| 23Q3 (19) | 16.63 | 1.96 | 15.49 | 2.68 | -3.25 | 104.58 | 4.22 | 4.46 | -77.78 | 3.08 | 4.76 | -74.71 | 2.34 | 4.0 | -79.63 | 1.00 | 3.09 | -72.22 | 0.26 | 0.0 | -7.14 | 7.93 | 3.26 | -63.72 | 194.72 | 7.19 | -12.11 | 63.53 | -7.37 | 819.73 | 36.42 | 16.11 | -60.87 | 13.35 | 1.6 | -1.48 |
| 23Q2 (18) | 16.31 | 2.9 | 10.43 | 2.77 | 3.36 | -23.27 | 4.04 | 65.57 | 1.0 | 2.94 | 96.0 | 10.11 | 2.25 | 102.7 | -19.06 | 0.97 | 73.21 | 3.19 | 0.26 | 4.0 | -16.13 | 7.68 | 24.88 | 19.07 | 181.66 | -8.94 | -25.09 | 68.58 | -37.56 | -23.99 | 31.37 | 418.61 | 221.24 | 13.14 | -0.23 | 11.54 |
| 23Q1 (17) | 15.85 | 1.47 | 22.49 | 2.68 | 1.9 | 23.5 | 2.44 | 20.2 | -5.06 | 1.50 | -17.13 | -14.77 | 1.11 | -26.0 | -33.93 | 0.56 | -12.5 | -11.11 | 0.25 | -7.41 | -21.88 | 6.15 | 18.27 | 23.49 | 199.50 | 8.01 | -10.69 | 109.85 | -15.14 | 29.84 | -9.85 | 66.47 | -163.93 | 13.17 | 6.04 | 14.03 |
| 22Q4 (16) | 15.62 | 8.47 | 13.93 | 2.63 | 100.76 | -7.39 | 2.03 | -89.31 | -37.73 | 1.81 | -85.14 | -27.02 | 1.50 | -86.95 | -38.52 | 0.64 | -82.22 | -29.67 | 0.27 | -3.57 | -20.59 | 5.20 | -76.21 | -6.98 | 184.70 | -16.64 | 0.96 | 129.45 | 1774.04 | 48.93 | -29.36 | -131.54 | -325.28 | 12.42 | -8.34 | 11.09 |
| 22Q3 (15) | 14.40 | -2.51 | -0.96 | 1.31 | -63.71 | -62.14 | 18.99 | 374.75 | 326.74 | 12.18 | 356.18 | 256.14 | 11.49 | 313.31 | 254.63 | 3.60 | 282.98 | 213.04 | 0.28 | -9.68 | -9.68 | 21.86 | 238.91 | 218.2 | 221.56 | -8.64 | 8.09 | 6.91 | -92.35 | -91.12 | 93.09 | 853.34 | 319.08 | 13.55 | 15.03 | 15.22 |
| 22Q2 (14) | 14.77 | 14.14 | 0.14 | 3.61 | 66.36 | 5.87 | 4.00 | 55.64 | -57.72 | 2.67 | 51.7 | -65.94 | 2.78 | 65.48 | -61.12 | 0.94 | 49.21 | -63.28 | 0.31 | -3.13 | -3.13 | 6.45 | 29.52 | -45.71 | 242.52 | 8.56 | 22.57 | 90.24 | 6.66 | 150.55 | 9.76 | -36.59 | -84.74 | 11.78 | 1.99 | -3.13 |
| 22Q1 (13) | 12.94 | -5.62 | -12.15 | 2.17 | -23.59 | -35.61 | 2.57 | -21.17 | -58.21 | 1.76 | -29.03 | -65.62 | 1.68 | -31.15 | -61.29 | 0.63 | -30.77 | -60.63 | 0.32 | -5.88 | 6.67 | 4.98 | -10.91 | -42.89 | 223.39 | 22.1 | 24.65 | 84.60 | -2.67 | 54.28 | 15.40 | 18.16 | -65.9 | 11.55 | 3.31 | -8.04 |
| 21Q4 (12) | 13.71 | -5.71 | -3.92 | 2.84 | -17.92 | -22.4 | 3.26 | -26.74 | -33.33 | 2.48 | -27.49 | -38.0 | 2.44 | -24.69 | -36.95 | 0.91 | -20.87 | -37.24 | 0.34 | 9.68 | 0.0 | 5.59 | -18.63 | -21.6 | 182.95 | -10.74 | -3.55 | 86.92 | 11.74 | 16.18 | 13.03 | -41.33 | -48.33 | 11.18 | -4.93 | -1.24 |
| 21Q3 (11) | 14.54 | -1.42 | 0.41 | 3.46 | 1.47 | -12.85 | 4.45 | -52.96 | -22.07 | 3.42 | -56.38 | -28.6 | 3.24 | -54.69 | -30.62 | 1.15 | -55.08 | -34.29 | 0.31 | -3.13 | -8.82 | 6.87 | -42.17 | -14.87 | 204.97 | 3.59 | 17.46 | 77.79 | 115.98 | 11.92 | 22.21 | -65.28 | -27.25 | 11.76 | -3.29 | 6.81 |
| 21Q2 (10) | 14.75 | 0.14 | 8.62 | 3.41 | 1.19 | 3.65 | 9.46 | 53.82 | 126.32 | 7.84 | 53.12 | 182.01 | 7.15 | 64.75 | 180.39 | 2.56 | 60.0 | 150.98 | 0.32 | 6.67 | 0.0 | 11.88 | 36.24 | 78.92 | 197.87 | 10.41 | 2.5 | 36.02 | -34.32 | -54.15 | 63.98 | 41.67 | 198.22 | 12.16 | -3.18 | 12.7 |
| 21Q1 (9) | 14.73 | 3.22 | 9.68 | 3.37 | -7.92 | 27.17 | 6.15 | 25.77 | 277.3 | 5.12 | 28.0 | 412.0 | 4.34 | 12.14 | 429.27 | 1.60 | 10.34 | 272.09 | 0.30 | -11.76 | 3.45 | 8.72 | 22.3 | 100.92 | 179.22 | -5.52 | 2.11 | 54.84 | -26.7 | -66.21 | 45.16 | 79.06 | 172.51 | 12.56 | 10.95 | 10.66 |
| 20Q4 (8) | 14.27 | -1.45 | 11.48 | 3.66 | -7.81 | 24.91 | 4.89 | -14.36 | 170.17 | 4.00 | -16.49 | 122.22 | 3.87 | -17.13 | 121.14 | 1.45 | -17.14 | 90.79 | 0.34 | 0.0 | 0.0 | 7.13 | -11.65 | 69.76 | 189.69 | 8.7 | 3.55 | 74.81 | 7.64 | -53.76 | 25.22 | -17.39 | 140.83 | 11.32 | 2.82 | 0 |
| 20Q3 (7) | 14.48 | 6.63 | 2.19 | 3.97 | 20.67 | -2.22 | 5.71 | 36.6 | 42.75 | 4.79 | 72.3 | 68.66 | 4.67 | 83.14 | 67.38 | 1.75 | 71.57 | 59.09 | 0.34 | 6.25 | 3.03 | 8.07 | 21.54 | 23.58 | 174.50 | -9.6 | -6.56 | 69.50 | -11.51 | -31.5 | 30.53 | 42.3 | 2192.05 | 11.01 | 2.04 | 2.8 |
| 20Q2 (6) | 13.58 | 1.12 | -3.35 | 3.29 | 24.15 | -20.34 | 4.18 | 156.44 | -11.44 | 2.78 | 178.0 | -8.25 | 2.55 | 210.98 | -15.28 | 1.02 | 137.21 | -13.56 | 0.32 | 10.34 | -3.03 | 6.64 | 53.0 | -9.78 | 193.04 | 9.98 | -3.53 | 78.54 | -51.6 | -10.1 | 21.46 | 134.45 | 69.9 | 10.79 | -4.93 | -0.28 |
| 20Q1 (5) | 13.43 | 4.92 | 0.67 | 2.65 | -9.56 | -26.8 | 1.63 | -9.94 | -55.22 | 1.00 | -44.44 | -64.29 | 0.82 | -53.14 | -69.96 | 0.43 | -43.42 | -60.19 | 0.29 | -14.71 | -12.12 | 4.34 | 3.33 | -30.45 | 175.52 | -4.18 | -10.94 | 162.28 | 0.31 | 63.41 | -62.28 | -0.82 | -9143.76 | 11.35 | 0 | 4.42 |
| 19Q4 (4) | 12.80 | -9.67 | 0.0 | 2.93 | -27.83 | 0.0 | 1.81 | -54.75 | 0.0 | 1.80 | -36.62 | 0.0 | 1.75 | -37.28 | 0.0 | 0.76 | -30.91 | 0.0 | 0.34 | 3.03 | 0.0 | 4.20 | -35.68 | 0.0 | 183.18 | -1.91 | 0.0 | 161.78 | 59.45 | 0.0 | -61.78 | -4133.09 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 14.17 | 0.85 | 0.0 | 4.06 | -1.69 | 0.0 | 4.00 | -15.25 | 0.0 | 2.84 | -6.27 | 0.0 | 2.79 | -7.31 | 0.0 | 1.10 | -6.78 | 0.0 | 0.33 | 0.0 | 0.0 | 6.53 | -11.28 | 0.0 | 186.75 | -6.67 | 0.0 | 101.46 | 16.12 | 0.0 | -1.46 | -111.56 | 0.0 | 10.71 | -1.02 | 0.0 |
| 19Q2 (2) | 14.05 | 5.32 | 0.0 | 4.13 | 14.09 | 0.0 | 4.72 | 29.67 | 0.0 | 3.03 | 8.21 | 0.0 | 3.01 | 10.26 | 0.0 | 1.18 | 9.26 | 0.0 | 0.33 | 0.0 | 0.0 | 7.36 | 17.95 | 0.0 | 200.10 | 1.54 | 0.0 | 87.37 | -12.02 | 0.0 | 12.63 | 1733.63 | 0.0 | 10.82 | -0.46 | 0.0 |
| 19Q1 (1) | 13.34 | 0.0 | 0.0 | 3.62 | 0.0 | 0.0 | 3.64 | 0.0 | 0.0 | 2.80 | 0.0 | 0.0 | 2.73 | 0.0 | 0.0 | 1.08 | 0.0 | 0.0 | 0.33 | 0.0 | 0.0 | 6.24 | 0.0 | 0.0 | 197.07 | 0.0 | 0.0 | 99.31 | 0.0 | 0.0 | 0.69 | 0.0 | 0.0 | 10.87 | 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) | 16.25 | 12.77 | 2.46 | 0.82 | 2.26 | 28.87 | 3.10 | -55.27 | 2.22 | -51.95 | 6.84 | -58.6 | 3.12 | -50.63 | 1.07 | -15.08 | 6.79 | -29.64 | 193.98 | 5.02 | 79.29 | 125.22 | 20.71 | -68.03 | 5.05 | -4.53 | 13.26 | 7.72 |
| 2022 (9) | 14.41 | 0.0 | 2.44 | -25.15 | 1.75 | 4.15 | 6.93 | 20.52 | 4.62 | -0.43 | 16.52 | -1.43 | 6.32 | 2.6 | 1.26 | 0.0 | 9.65 | 17.97 | 184.70 | 0.96 | 35.20 | -37.87 | 64.80 | 49.5 | 5.29 | -6.06 | 12.31 | 3.62 |
| 2021 (8) | 14.41 | 3.0 | 3.26 | -5.51 | 1.68 | -0.17 | 5.75 | 34.35 | 4.64 | 39.76 | 16.76 | 40.84 | 6.16 | 35.38 | 1.26 | 0.8 | 8.18 | 22.09 | 182.95 | -3.55 | 56.66 | -29.63 | 43.34 | 122.48 | 5.63 | 5.45 | 11.88 | 6.83 |
| 2020 (7) | 13.99 | 3.02 | 3.45 | -5.99 | 1.69 | 0.42 | 4.28 | 22.29 | 3.32 | 27.69 | 11.90 | 18.64 | 4.55 | 11.52 | 1.25 | -6.02 | 6.70 | 11.11 | 189.69 | 3.55 | 80.52 | -23.14 | 19.48 | 0 | 5.34 | 43.26 | 11.12 | 5.1 |
| 2019 (6) | 13.58 | 9.96 | 3.67 | 24.83 | 1.68 | 29.54 | 3.50 | -2.78 | 2.60 | -9.09 | 10.03 | -12.78 | 4.08 | -9.13 | 1.33 | -2.21 | 6.03 | 5.05 | 183.18 | -8.67 | 104.76 | 28.5 | -4.76 | 0 | 3.73 | -10.62 | 10.58 | -0.84 |
| 2018 (5) | 12.35 | 3.52 | 2.94 | 18.07 | 1.30 | -2.33 | 3.60 | -23.24 | 2.86 | -30.75 | 11.50 | -28.35 | 4.49 | -26.15 | 1.36 | 1.49 | 5.74 | -14.2 | 200.57 | 5.47 | 81.53 | 53.82 | 18.47 | -60.69 | 4.17 | -9.23 | 10.67 | 1.14 |
| 2017 (4) | 11.93 | -4.64 | 2.49 | -28.03 | 1.33 | -0.81 | 4.69 | 25.4 | 4.13 | 31.53 | 16.05 | 26.88 | 6.08 | 30.19 | 1.34 | 1.52 | 6.69 | 17.57 | 190.16 | 0.45 | 53.00 | -42.78 | 47.00 | 537.74 | 4.59 | 0 | 10.55 | 2.33 |
| 2016 (3) | 12.51 | 13.73 | 3.46 | 77.44 | 1.34 | -10.66 | 3.74 | 73.95 | 3.14 | 85.8 | 12.65 | 75.69 | 4.67 | 65.6 | 1.32 | 2.33 | 5.69 | 29.32 | 189.30 | -13.78 | 92.63 | 2.01 | 7.37 | -20.13 | 0.00 | 0 | 10.31 | 4.56 |
| 2015 (2) | 11.00 | -2.48 | 1.95 | -10.96 | 1.50 | 0.16 | 2.15 | -22.1 | 1.69 | -32.4 | 7.20 | -41.18 | 2.82 | -31.88 | 1.29 | -5.15 | 4.40 | -12.87 | 219.55 | -8.52 | 90.81 | 14.38 | 9.23 | -55.22 | 0.00 | 0 | 9.86 | 5.12 |
| 2014 (1) | 11.28 | 0 | 2.19 | 0 | 1.50 | -22.53 | 2.76 | 0 | 2.50 | 0 | 12.24 | 0 | 4.14 | 0 | 1.36 | 0.74 | 5.05 | 14.77 | 240.01 | -16.32 | 79.39 | -12.22 | 20.61 | 115.57 | 0.00 | 0 | 9.38 | 5.27 |
