- 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) | 53.67 | 26.31 | 27.36 | 33.45 | 47.68 | 5.62 | 33.34 | 69.93 | 12.33 | 31.23 | 74.37 | 7.76 | 0.93 | 47.62 | -87.65 | 0.56 | 33.33 | -84.0 | 0.01 | -50.0 | -91.67 | 48.97 | 54.19 | 55.46 | 119.89 | 9.73 | 13.27 | 100.00 | -13.79 | -6.25 | 0.00 | 100.0 | 100.0 | 13.23 | 47.49 | 512.5 |
| 23Q3 (19) | 42.49 | -4.15 | 1.55 | 22.65 | 264.73 | -14.56 | 19.62 | 14992.31 | -23.09 | 17.91 | 220.44 | -27.2 | 0.63 | 265.79 | -64.61 | 0.42 | 625.0 | -51.16 | 0.02 | 100.0 | -33.33 | 31.76 | 98.87 | -2.96 | 109.26 | 2.52 | -22.7 | 116.00 | -95.17 | 11.59 | -15.00 | 99.35 | -279.5 | 8.97 | -13.75 | 92.49 |
| 23Q2 (18) | 44.33 | 2.31 | -3.65 | 6.21 | -80.56 | -78.93 | 0.13 | -99.55 | -99.51 | -14.87 | -152.01 | -160.89 | -0.38 | -116.45 | -121.71 | -0.08 | -106.35 | -109.52 | 0.01 | -75.0 | -66.67 | 15.97 | -53.45 | -51.44 | 106.57 | 8.2 | -27.39 | 2400.00 | 2091.3 | 2052.58 | -2300.00 | -24050.0 | -19910.0 | 10.40 | 205.88 | 137.99 |
| 23Q1 (17) | 43.33 | 2.82 | -2.37 | 31.95 | 0.88 | -8.66 | 29.18 | -1.68 | -10.87 | 28.59 | -1.35 | -9.9 | 2.31 | -69.32 | -19.79 | 1.26 | -64.0 | -3.08 | 0.04 | -66.67 | 0.0 | 34.31 | 8.92 | -7.59 | 98.49 | -6.94 | -28.31 | 109.52 | 2.68 | 2.49 | -9.52 | -42.86 | -38.78 | 3.40 | 57.41 | 1.8 |
| 22Q4 (16) | 42.14 | 0.72 | -6.71 | 31.67 | 19.46 | 9.62 | 29.68 | 16.35 | 16.44 | 28.98 | 17.8 | 17.38 | 7.53 | 323.03 | 258.57 | 3.50 | 306.98 | 260.82 | 0.12 | 300.0 | 300.0 | 31.50 | -3.76 | 1.19 | 105.84 | -25.12 | -25.87 | 106.67 | 2.61 | -5.73 | -6.67 | -68.67 | 50.6 | 2.16 | -53.65 | -63.08 |
| 22Q3 (15) | 41.84 | -9.06 | 5.1 | 26.51 | -10.07 | 3.47 | 25.51 | -3.52 | 3.11 | 24.60 | 0.74 | 4.5 | 1.78 | 1.71 | -3.26 | 0.86 | 2.38 | 1.18 | 0.03 | 0.0 | 0.0 | 32.73 | -0.49 | 7.95 | 141.35 | -3.69 | -6.2 | 103.95 | -6.76 | 0.44 | -3.95 | 65.61 | -12.87 | 4.66 | 6.64 | 22.63 |
| 22Q2 (14) | 46.01 | 3.67 | 3.49 | 29.48 | -15.72 | 28.85 | 26.44 | -19.24 | 39.23 | 24.42 | -23.04 | 36.73 | 1.75 | -39.24 | 59.09 | 0.84 | -35.38 | 52.73 | 0.03 | -25.0 | 50.0 | 32.89 | -11.42 | 26.02 | 146.77 | 6.84 | -0.84 | 111.49 | 4.33 | -7.58 | -11.49 | -67.49 | 44.32 | 4.37 | 30.84 | 3.07 |
| 22Q1 (13) | 44.38 | -1.75 | 6.55 | 34.98 | 21.08 | 22.14 | 32.74 | 28.44 | 61.04 | 31.73 | 28.51 | 61.89 | 2.88 | 37.14 | 116.54 | 1.30 | 34.02 | 100.0 | 0.04 | 33.33 | 33.33 | 37.13 | 19.27 | 31.34 | 137.38 | -3.78 | -9.67 | 106.86 | -5.56 | -23.85 | -6.86 | 49.15 | 83.21 | 3.34 | -42.91 | -21.04 |
| 21Q4 (12) | 45.17 | 13.46 | 13.84 | 28.89 | 12.76 | 5.4 | 25.49 | 3.03 | 4.21 | 24.69 | 4.89 | -0.76 | 2.10 | 14.13 | -2.33 | 0.97 | 14.12 | 3.19 | 0.03 | 0.0 | 0.0 | 31.13 | 2.67 | 2.4 | 142.78 | -5.25 | -10.6 | 113.15 | 9.32 | 0.91 | -13.49 | -285.35 | -11.23 | 5.85 | 53.95 | 93.71 |
| 21Q3 (11) | 39.81 | -10.46 | 9.55 | 25.62 | 11.98 | 29.59 | 24.74 | 30.28 | 24.76 | 23.54 | 31.8 | 24.55 | 1.84 | 67.27 | 97.85 | 0.85 | 54.55 | 66.67 | 0.03 | 50.0 | 50.0 | 30.32 | 16.17 | 1.17 | 150.69 | 1.81 | -9.52 | 103.50 | -14.21 | 4.3 | -3.50 | 83.04 | 0 | 3.80 | -10.38 | -17.21 |
| 21Q2 (10) | 44.46 | 6.75 | -15.44 | 22.88 | -20.11 | 51.93 | 18.99 | -6.59 | 187.73 | 17.86 | -8.88 | 320.77 | 1.10 | -17.29 | 678.95 | 0.55 | -15.38 | 1275.0 | 0.02 | -33.33 | 100.0 | 26.10 | -7.68 | 3.74 | 148.01 | -2.68 | 20.3 | 120.65 | -14.03 | -47.22 | -20.65 | 49.5 | 83.94 | 4.24 | 0.24 | 0 |
| 21Q1 (9) | 41.65 | 4.96 | -24.62 | 28.64 | 4.49 | -20.8 | 20.33 | -16.88 | -40.66 | 19.60 | -21.22 | -43.16 | 1.33 | -38.14 | -20.83 | 0.65 | -30.85 | -29.35 | 0.03 | 0.0 | 50.0 | 28.27 | -7.01 | -34.45 | 152.08 | -4.78 | 34.2 | 140.33 | 25.15 | 32.95 | -40.88 | -236.98 | -635.91 | 4.23 | 40.07 | -36.3 |
| 20Q4 (8) | 39.68 | 9.19 | 4.15 | 27.41 | 38.64 | 5.79 | 24.46 | 23.35 | 0.87 | 24.88 | 31.64 | 9.56 | 2.15 | 131.18 | 14.97 | 0.94 | 84.31 | -8.74 | 0.03 | 50.0 | -25.0 | 30.40 | 1.43 | 4.36 | 159.71 | -4.1 | 40.97 | 112.13 | 13.0 | 4.92 | -12.13 | 0 | -76.53 | 3.02 | -34.2 | -7.36 |
| 20Q3 (7) | 36.34 | -30.89 | -3.43 | 19.77 | 31.27 | -20.95 | 19.83 | 200.45 | -19.88 | 18.90 | 333.62 | -21.38 | 0.93 | 589.47 | -70.57 | 0.51 | 1175.0 | -69.46 | 0.02 | 100.0 | -66.67 | 29.97 | 19.12 | 7.42 | 166.54 | 35.37 | 69.44 | 99.23 | -56.59 | -1.78 | 0.00 | 100.0 | 100.0 | 4.59 | 0 | 111.52 |
| 20Q2 (6) | 52.58 | -4.83 | 47.66 | 15.06 | -58.35 | -41.08 | 6.60 | -80.74 | -78.19 | -8.09 | -123.46 | -139.81 | -0.19 | -111.31 | -108.33 | 0.04 | -95.65 | -96.64 | 0.01 | -50.0 | -80.0 | 25.16 | -41.66 | -25.98 | 123.03 | 8.57 | 10.66 | 228.57 | 116.54 | 170.68 | -128.57 | -2214.29 | -926.53 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 55.25 | 45.01 | 56.34 | 36.16 | 39.56 | 34.03 | 34.26 | 41.28 | 38.48 | 34.48 | 51.83 | 47.1 | 1.68 | -10.16 | -7.69 | 0.92 | -10.68 | -1.08 | 0.02 | -50.0 | -50.0 | 43.13 | 48.06 | 47.15 | 113.32 | 0.03 | -1.82 | 105.56 | -1.23 | -3.27 | -5.56 | 19.17 | 39.11 | 6.64 | 103.68 | 141.45 |
| 19Q4 (4) | 38.10 | 1.25 | 0.0 | 25.91 | 3.6 | 0.0 | 24.25 | -2.02 | 0.0 | 22.71 | -5.53 | 0.0 | 1.87 | -40.82 | 0.0 | 1.03 | -38.32 | 0.0 | 0.04 | -33.33 | 0.0 | 29.13 | 4.41 | 0.0 | 113.29 | 15.26 | 0.0 | 106.87 | 5.79 | 0.0 | -6.87 | -569.42 | 0.0 | 3.26 | 50.23 | 0.0 |
| 19Q3 (3) | 37.63 | 5.67 | 0.0 | 25.01 | -2.15 | 0.0 | 24.75 | -18.21 | 0.0 | 24.04 | 18.31 | 0.0 | 3.16 | 38.6 | 0.0 | 1.67 | 40.34 | 0.0 | 0.06 | 20.0 | 0.0 | 27.90 | -17.92 | 0.0 | 98.29 | -11.59 | 0.0 | 101.03 | 19.64 | 0.0 | -1.03 | -106.6 | 0.0 | 2.17 | -2.69 | 0.0 |
| 19Q2 (2) | 35.61 | 0.76 | 0.0 | 25.56 | -5.26 | 0.0 | 30.26 | 22.31 | 0.0 | 20.32 | -13.31 | 0.0 | 2.28 | 25.27 | 0.0 | 1.19 | 27.96 | 0.0 | 0.05 | 25.0 | 0.0 | 33.99 | 15.97 | 0.0 | 111.18 | -3.67 | 0.0 | 84.44 | -22.62 | 0.0 | 15.56 | 270.49 | 0.0 | 2.23 | -18.91 | 0.0 |
| 19Q1 (1) | 35.34 | 0.0 | 0.0 | 26.98 | 0.0 | 0.0 | 24.74 | 0.0 | 0.0 | 23.44 | 0.0 | 0.0 | 1.82 | 0.0 | 0.0 | 0.93 | 0.0 | 0.0 | 0.04 | 0.0 | 0.0 | 29.31 | 0.0 | 0.0 | 115.42 | 0.0 | 0.0 | 109.12 | 0.0 | 0.0 | -9.12 | 0.0 | 0.0 | 2.75 | 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) | 45.08 | 4.72 | 26.50 | -15.09 | 2.78 | 217.68 | 23.63 | -18.99 | 20.40 | -27.66 | 3.52 | -74.58 | 2.11 | -68.46 | 0.08 | -63.64 | 33.57 | 2.07 | 119.89 | 13.27 | 112.11 | 4.79 | -12.11 | 0 | 0.06 | -9.38 | 7.24 | 138.16 |
| 2022 (9) | 43.05 | 0.63 | 31.21 | 16.94 | 0.88 | -29.31 | 29.17 | 28.28 | 28.20 | 29.48 | 13.85 | 117.43 | 6.69 | 122.26 | 0.22 | 83.33 | 32.89 | 12.6 | 105.84 | -25.87 | 106.98 | -8.85 | -6.98 | 0 | 0.07 | -14.1 | 3.04 | -33.77 |
| 2021 (8) | 42.78 | -3.28 | 26.69 | 1.37 | 1.24 | -26.96 | 22.74 | -4.09 | 21.78 | -1.04 | 6.37 | 40.93 | 3.01 | 24.38 | 0.12 | 33.33 | 29.21 | -11.03 | 142.78 | -10.6 | 117.37 | 5.63 | -17.37 | 0 | 0.08 | -7.2 | 4.59 | -8.75 |
| 2020 (7) | 44.23 | 20.39 | 26.33 | 2.37 | 1.70 | 104.57 | 23.71 | -9.4 | 22.01 | -2.74 | 4.52 | -52.52 | 2.42 | -50.0 | 0.09 | -52.63 | 32.83 | 9.18 | 159.71 | 40.97 | 111.11 | 13.08 | -11.11 | 0 | 0.09 | -20.13 | 5.03 | 99.6 |
| 2019 (6) | 36.74 | -17.16 | 25.72 | -32.24 | 0.83 | 41.09 | 26.17 | -32.27 | 22.63 | -39.75 | 9.52 | -58.23 | 4.84 | -50.76 | 0.19 | -24.0 | 30.07 | -26.6 | 113.29 | -6.64 | 98.25 | 0.03 | 1.75 | -0.06 | 0.11 | -6.75 | 2.52 | -17.38 |
| 2018 (5) | 44.35 | -3.04 | 37.96 | -3.04 | 0.59 | 31.85 | 38.64 | -8.02 | 37.56 | -6.19 | 22.79 | -4.64 | 9.83 | 11.07 | 0.25 | 19.05 | 40.97 | -8.57 | 121.35 | -24.9 | 98.22 | 5.39 | 1.75 | -74.33 | 0.12 | -10.07 | 3.05 | 37.39 |
| 2017 (4) | 45.74 | -2.72 | 39.15 | 7.82 | 0.45 | 20.0 | 42.01 | 37.87 | 40.04 | 50.02 | 23.90 | 156.44 | 8.85 | 147.21 | 0.21 | 90.91 | 44.81 | 22.43 | 161.59 | -23.57 | 93.20 | -21.74 | 6.80 | 0 | 0.13 | 0 | 2.22 | 1.83 |
| 2016 (3) | 47.02 | -22.18 | 36.31 | -10.23 | 0.37 | -53.47 | 30.47 | 5.84 | 26.69 | 0.04 | 9.32 | 104.84 | 3.58 | 61.99 | 0.11 | 83.33 | 36.60 | -16.09 | 211.42 | 4.45 | 119.09 | -15.19 | -19.19 | 0 | 0.00 | 0 | 2.18 | -52.71 |
| 2015 (2) | 60.42 | 66.45 | 40.45 | 0 | 0.80 | -29.42 | 28.79 | 0 | 26.68 | 0 | 4.55 | 0 | 2.21 | 0 | 0.06 | 50.0 | 43.62 | 1414.58 | 202.42 | 8.26 | 140.42 | 397.56 | -40.42 | 0 | 0.00 | 0 | 4.61 | -39.97 |
| 2014 (1) | 36.30 | 0 | -4.72 | 0 | 1.13 | -21.81 | -16.71 | 0 | -24.38 | 0 | -2.61 | 0 | -0.37 | 0 | 0.04 | 0.0 | 2.88 | -54.07 | 186.98 | 25.17 | 28.22 | -91.35 | 71.78 | 0 | 0.00 | 0 | 7.68 | 25.49 |
