- 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) | 10.94 | 1.2 | 3.4 | 2.21 | -3.49 | 30.77 | 2.63 | -40.36 | 437.18 | 1.87 | -42.46 | 271.56 | 1.47 | -47.87 | 259.78 | 0.58 | -45.28 | 287.1 | 0.30 | -6.25 | 0.0 | 3.50 | -33.33 | 2816.67 | 159.81 | -6.48 | -5.1 | 84.09 | 61.92 | 139.01 | 15.91 | -66.89 | -94.96 | 5.84 | 2.46 | 8.55 |
| 23Q3 (19) | 10.81 | 0.65 | 6.92 | 2.29 | 27.22 | 78.91 | 4.41 | 15.75 | 6.01 | 3.25 | 18.61 | 3.83 | 2.82 | 26.46 | -6.0 | 1.06 | 26.19 | 6.0 | 0.32 | 6.67 | 3.23 | 5.25 | 14.13 | 6.92 | 170.88 | -2.37 | -10.55 | 51.93 | 10.22 | 69.26 | 48.07 | -9.1 | -30.66 | 5.70 | -12.04 | 2.89 |
| 23Q2 (18) | 10.74 | 5.09 | -2.89 | 1.80 | 300.0 | -40.2 | 3.81 | 111.67 | 8.55 | 2.74 | 117.46 | 5.38 | 2.23 | 132.29 | -23.63 | 0.84 | 121.05 | -6.67 | 0.30 | 7.14 | -11.76 | 4.60 | 69.12 | 10.58 | 175.02 | -0.6 | -24.3 | 47.12 | 85.71 | -44.97 | 52.88 | -29.24 | 267.86 | 6.48 | -6.76 | 25.58 |
| 23Q1 (17) | 10.22 | -3.4 | -9.56 | 0.45 | -73.37 | -87.9 | 1.80 | 330.77 | -54.55 | 1.26 | 215.6 | -57.86 | 0.96 | 204.35 | -73.48 | 0.38 | 222.58 | -65.77 | 0.28 | -6.67 | -24.32 | 2.72 | 2166.67 | -39.01 | 176.08 | 4.57 | -24.24 | 25.37 | 111.77 | -72.99 | 74.73 | -76.32 | 1133.12 | 6.95 | 29.18 | 46.93 |
| 22Q4 (16) | 10.58 | 4.65 | -7.76 | 1.69 | 32.03 | -62.61 | -0.78 | -118.75 | -119.45 | -1.09 | -134.82 | -139.78 | -0.92 | -130.67 | -125.14 | -0.31 | -131.0 | -125.2 | 0.30 | -3.23 | -28.57 | 0.12 | -97.56 | -97.5 | 168.39 | -11.86 | -25.27 | -215.57 | -802.6 | -291.04 | 315.57 | 355.24 | 2557.86 | 5.38 | -2.89 | 25.12 |
| 22Q3 (15) | 10.11 | -8.59 | -12.47 | 1.28 | -57.48 | -70.02 | 4.16 | 18.52 | -18.91 | 3.13 | 20.38 | -19.12 | 3.00 | 2.74 | -39.88 | 1.00 | 11.11 | -37.89 | 0.31 | -8.82 | -24.39 | 4.91 | 18.03 | -10.89 | 191.04 | -17.37 | -9.01 | 30.68 | -64.17 | -63.15 | 69.32 | 382.19 | 314.12 | 5.54 | 7.36 | 17.62 |
| 22Q2 (14) | 11.06 | -2.12 | -7.99 | 3.01 | -19.09 | -39.68 | 3.51 | -11.36 | -30.5 | 2.60 | -13.04 | -30.48 | 2.92 | -19.34 | -40.04 | 0.90 | -18.92 | -43.75 | 0.34 | -8.11 | -19.05 | 4.16 | -6.73 | -25.71 | 231.19 | -0.52 | 6.96 | 85.62 | -8.85 | -13.26 | 14.38 | 137.2 | 1014.4 | 5.16 | 9.09 | 6.61 |
| 22Q1 (13) | 11.30 | -1.48 | -2.75 | 3.72 | -17.7 | -5.1 | 3.96 | -1.25 | -25.0 | 2.99 | 9.12 | -23.53 | 3.62 | -1.09 | -20.79 | 1.11 | -9.76 | -27.92 | 0.37 | -11.9 | -5.13 | 4.46 | -7.08 | -23.89 | 232.41 | 3.15 | 14.28 | 93.94 | -16.75 | 26.41 | 6.06 | 147.2 | -76.38 | 4.73 | 10.0 | -3.07 |
| 21Q4 (12) | 11.47 | -0.69 | -1.63 | 4.52 | 5.85 | -3.83 | 4.01 | -21.83 | 2.56 | 2.74 | -29.2 | 10.48 | 3.66 | -26.65 | 7.96 | 1.23 | -23.6 | 5.13 | 0.42 | 2.44 | -10.64 | 4.80 | -12.89 | 2.35 | 225.32 | 7.32 | 14.43 | 112.84 | 35.52 | -5.98 | -12.84 | -176.7 | 35.86 | 4.30 | -8.7 | -0.23 |
| 21Q3 (11) | 11.55 | -3.91 | 10.1 | 4.27 | -14.43 | 17.31 | 5.13 | 1.58 | 26.35 | 3.87 | 3.48 | 33.45 | 4.99 | 2.46 | 24.75 | 1.61 | 0.63 | 13.38 | 0.41 | -2.38 | -14.58 | 5.51 | -1.61 | 19.52 | 209.95 | -2.86 | 10.47 | 83.26 | -15.65 | -7.13 | 16.74 | 1197.57 | 61.76 | 4.71 | -2.69 | 9.53 |
| 21Q2 (10) | 12.02 | 3.44 | 10.48 | 4.99 | 27.3 | 54.01 | 5.05 | -4.36 | 101.2 | 3.74 | -4.35 | 100.0 | 4.87 | 6.56 | 125.46 | 1.60 | 3.9 | 92.77 | 0.42 | 7.69 | -2.33 | 5.60 | -4.44 | 83.61 | 216.14 | 6.28 | 18.65 | 98.71 | 32.83 | -23.61 | 1.29 | -94.97 | 104.41 | 4.84 | -0.82 | 5.22 |
| 21Q1 (9) | 11.62 | -0.34 | 14.71 | 3.92 | -16.6 | 9700.0 | 5.28 | 35.04 | 230.0 | 3.91 | 57.66 | 246.02 | 4.57 | 34.81 | 381.05 | 1.54 | 31.62 | 294.87 | 0.39 | -17.02 | 18.18 | 5.86 | 24.95 | 150.43 | 203.37 | 3.29 | 33.06 | 74.31 | -38.08 | 2950.68 | 25.66 | 228.19 | -73.7 | 4.88 | 13.23 | -22.91 |
| 20Q4 (8) | 11.66 | 11.15 | 13.09 | 4.70 | 29.12 | 148.68 | 3.91 | -3.69 | 291.0 | 2.48 | -14.48 | 504.88 | 3.39 | -15.25 | 707.14 | 1.17 | -17.61 | 550.0 | 0.47 | -2.08 | 20.51 | 4.69 | 1.74 | 184.24 | 196.90 | 3.6 | 20.28 | 120.02 | 33.87 | -36.54 | -20.02 | -293.45 | 77.54 | 4.31 | 0.23 | -8.88 |
| 20Q3 (7) | 10.49 | -3.58 | -1.04 | 3.64 | 12.35 | 195.93 | 4.06 | 61.75 | 63.05 | 2.90 | 55.08 | 53.44 | 4.00 | 85.19 | 99.0 | 1.42 | 71.08 | 89.33 | 0.48 | 11.63 | 23.08 | 4.61 | 51.15 | 45.89 | 190.05 | 4.33 | 8.22 | 89.65 | -30.62 | 81.04 | 10.35 | 135.41 | -79.5 | 4.30 | -6.52 | -20.07 |
| 20Q2 (6) | 10.88 | 7.4 | 1.12 | 3.24 | 8000.0 | 205.66 | 2.51 | 56.87 | 128.18 | 1.87 | 65.49 | 139.74 | 2.16 | 127.37 | 200.0 | 0.83 | 112.82 | 186.21 | 0.43 | 30.3 | 22.86 | 3.05 | 30.34 | 63.1 | 182.16 | 19.18 | 4.17 | 129.22 | 5204.92 | 33.87 | -29.22 | -129.95 | -903.61 | 4.60 | -27.33 | -21.64 |
| 20Q1 (5) | 10.13 | -1.75 | -3.98 | 0.04 | -97.88 | -96.04 | 1.60 | 60.0 | -5.33 | 1.13 | 175.61 | -11.72 | 0.95 | 126.19 | -19.49 | 0.39 | 116.67 | -20.41 | 0.33 | -15.38 | -8.33 | 2.34 | 41.82 | -7.14 | 152.84 | -6.63 | -0.52 | 2.44 | -98.71 | -95.93 | 97.56 | 209.47 | 143.52 | 6.33 | 33.83 | 4.46 |
| 19Q4 (4) | 10.31 | -2.74 | 0.0 | 1.89 | 53.66 | 0.0 | 1.00 | -59.84 | 0.0 | 0.41 | -78.31 | 0.0 | 0.42 | -79.1 | 0.0 | 0.18 | -76.0 | 0.0 | 0.39 | 0.0 | 0.0 | 1.65 | -47.78 | 0.0 | 163.70 | -6.79 | 0.0 | 189.12 | 281.91 | 0.0 | -89.12 | -276.55 | 0.0 | 4.73 | -12.08 | 0.0 |
| 19Q3 (3) | 10.60 | -1.49 | 0.0 | 1.23 | 16.04 | 0.0 | 2.49 | 126.36 | 0.0 | 1.89 | 142.31 | 0.0 | 2.01 | 179.17 | 0.0 | 0.75 | 158.62 | 0.0 | 0.39 | 11.43 | 0.0 | 3.16 | 68.98 | 0.0 | 175.62 | 0.43 | 0.0 | 49.52 | -48.7 | 0.0 | 50.48 | 1288.18 | 0.0 | 5.38 | -8.35 | 0.0 |
| 19Q2 (2) | 10.76 | 1.99 | 0.0 | 1.06 | 4.95 | 0.0 | 1.10 | -34.91 | 0.0 | 0.78 | -39.06 | 0.0 | 0.72 | -38.98 | 0.0 | 0.29 | -40.82 | 0.0 | 0.35 | -2.78 | 0.0 | 1.87 | -25.79 | 0.0 | 174.86 | 13.81 | 0.0 | 96.53 | 61.35 | 0.0 | 3.64 | -90.92 | 0.0 | 5.87 | -3.14 | 0.0 |
| 19Q1 (1) | 10.55 | 0.0 | 0.0 | 1.01 | 0.0 | 0.0 | 1.69 | 0.0 | 0.0 | 1.28 | 0.0 | 0.0 | 1.18 | 0.0 | 0.0 | 0.49 | 0.0 | 0.0 | 0.36 | 0.0 | 0.0 | 2.52 | 0.0 | 0.0 | 153.64 | 0.0 | 0.0 | 59.83 | 0.0 | 0.0 | 40.06 | 0.0 | 0.0 | 6.06 | 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) | 10.70 | -0.93 | 1.75 | -30.56 | 0.47 | 26.82 | 3.23 | 12.94 | 2.33 | 14.78 | 7.47 | -9.01 | 2.95 | 3.51 | 1.21 | -11.03 | 4.09 | 15.54 | 159.81 | -5.1 | 54.17 | -38.43 | 45.81 | 281.33 | 9.03 | -7.85 | 6.20 | 19.92 |
| 2022 (9) | 10.80 | -7.38 | 2.52 | -43.24 | 0.37 | 15.14 | 2.86 | -40.91 | 2.03 | -42.66 | 8.21 | -53.46 | 2.85 | -50.86 | 1.36 | -15.0 | 3.54 | -34.69 | 168.39 | -25.27 | 87.99 | -4.11 | 12.01 | 45.68 | 9.80 | 27.4 | 5.17 | 10.71 |
| 2021 (8) | 11.66 | 7.27 | 4.44 | 37.89 | 0.32 | -17.56 | 4.84 | 50.78 | 3.54 | 59.46 | 17.64 | 73.79 | 5.80 | 57.18 | 1.60 | -1.84 | 5.42 | 40.05 | 225.32 | 14.43 | 91.75 | -8.57 | 8.25 | 0 | 7.69 | -13.15 | 4.67 | -1.27 |
| 2020 (7) | 10.87 | 3.03 | 3.22 | 145.8 | 0.39 | -23.67 | 3.21 | 103.16 | 2.22 | 101.82 | 10.15 | 133.33 | 3.69 | 110.86 | 1.63 | 7.95 | 3.87 | 67.53 | 196.90 | 20.28 | 100.35 | 21.02 | -0.35 | 0 | 8.86 | -18.32 | 4.73 | -13.69 |
| 2019 (6) | 10.55 | -1.03 | 1.31 | -14.94 | 0.51 | 191.2 | 1.58 | -10.23 | 1.10 | -8.33 | 4.35 | -12.3 | 1.75 | -10.26 | 1.51 | -2.58 | 2.31 | 6.45 | 163.70 | 1.64 | 82.92 | -5.68 | 17.08 | 41.29 | 10.85 | -3.52 | 5.48 | -1.26 |
| 2018 (5) | 10.66 | -0.28 | 1.54 | -0.65 | 0.18 | -18.42 | 1.76 | 21.38 | 1.20 | 1.69 | 4.96 | 2.48 | 1.95 | 5.41 | 1.55 | 5.44 | 2.17 | 8.5 | 161.06 | -6.28 | 87.91 | -17.62 | 12.09 | 0 | 11.24 | 0 | 5.55 | 0.54 |
| 2017 (4) | 10.69 | 7.22 | 1.55 | 203.92 | 0.21 | -18.56 | 1.45 | 0 | 1.18 | 0 | 4.84 | 0 | 1.85 | 0 | 1.47 | 6.52 | 2.00 | 0 | 171.86 | -8.21 | 106.72 | 0 | -6.72 | 0 | 0.00 | 0 | 5.52 | -0.72 |
| 2016 (3) | 9.97 | 5.73 | 0.51 | 41.67 | 0.26 | 1.43 | -2.03 | 0 | -2.11 | 0 | -7.93 | 0 | -2.78 | 0 | 1.38 | -4.83 | -1.29 | 0 | 187.24 | 16.45 | -25.25 | 0 | 125.25 | 0 | 0.00 | 0 | 5.56 | 3.54 |
| 2015 (2) | 9.43 | 7.4 | 0.36 | -56.1 | 0.26 | 8.24 | 0.32 | -59.49 | 0.23 | -57.41 | 0.95 | -68.95 | 0.49 | -59.84 | 1.45 | -16.18 | 1.09 | -31.87 | 160.79 | -25.28 | 110.86 | 7.01 | -10.86 | 0 | 0.00 | 0 | 5.37 | 18.54 |
| 2014 (1) | 8.78 | 0 | 0.82 | 0 | 0.24 | -8.86 | 0.79 | 0 | 0.54 | 0 | 3.06 | 0 | 1.22 | 0 | 1.73 | 0.0 | 1.60 | 0 | 215.18 | -9.84 | 103.60 | 91.25 | -3.56 | 0 | 0.00 | 0 | 4.53 | 3.9 |
