- 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) | 13.80 | -2.06 | -4.83 | 2.99 | -19.62 | -27.6 | 2.51 | -26.82 | -39.08 | 1.69 | -41.72 | -48.48 | 0.80 | -42.45 | -53.49 | 0.49 | -38.75 | -45.56 | 0.24 | -4.0 | -4.0 | 10.45 | -4.39 | -12.63 | 95.39 | 0.29 | -11.62 | 123.08 | 11.07 | 23.08 | -19.23 | -137.18 | 0 | 35.48 | 3.41 | 5.66 |
| 23Q3 (19) | 14.09 | 4.6 | 0.21 | 3.72 | 37.78 | -1.85 | 3.43 | -28.24 | -4.46 | 2.90 | -30.95 | 0.69 | 1.39 | -23.2 | -11.46 | 0.80 | -23.81 | -2.44 | 0.25 | 8.7 | -3.85 | 10.93 | -13.39 | -2.06 | 95.11 | 3.43 | -16.29 | 110.81 | 97.88 | 5.66 | -8.11 | -118.43 | -66.22 | 34.31 | -1.18 | 4.25 |
| 23Q2 (18) | 13.47 | 16.22 | -18.26 | 2.70 | 291.3 | -54.77 | 4.78 | 2072.73 | -34.97 | 4.20 | 2700.0 | -32.15 | 1.81 | 2485.71 | -42.17 | 1.05 | 775.0 | -36.36 | 0.23 | 4.55 | -8.0 | 12.62 | 49.7 | -12.18 | 91.96 | 7.44 | -17.06 | 56.00 | -84.0 | -30.82 | 44.00 | 117.6 | 131.0 | 34.72 | -2.72 | 3.39 |
| 23Q1 (17) | 11.59 | -20.07 | -21.16 | 0.69 | -83.29 | -83.61 | 0.22 | -94.66 | -94.62 | 0.15 | -95.43 | -95.43 | 0.07 | -95.93 | -95.04 | 0.12 | -86.67 | -85.71 | 0.22 | -12.0 | -4.35 | 8.43 | -29.52 | -24.46 | 85.59 | -20.7 | -5.01 | 350.00 | 250.0 | 242.39 | -250.00 | 0 | -11150.0 | 35.69 | 6.28 | 3.99 |
| 22Q4 (16) | 14.50 | 3.13 | -5.1 | 4.13 | 8.97 | -14.49 | 4.12 | 14.76 | -13.81 | 3.28 | 13.89 | -13.91 | 1.72 | 9.55 | 8.18 | 0.90 | 9.76 | -5.26 | 0.25 | -3.85 | 8.7 | 11.96 | 7.17 | 4.55 | 107.93 | -5.01 | 31.4 | 100.00 | -4.65 | -1.82 | 0.00 | 100.0 | 100.0 | 33.58 | 2.04 | -2.58 |
| 22Q3 (15) | 14.06 | -14.68 | -9.87 | 3.79 | -36.52 | -31.09 | 3.59 | -51.16 | -39.46 | 2.88 | -53.47 | -41.7 | 1.57 | -49.84 | -24.52 | 0.82 | -50.3 | -34.92 | 0.26 | 4.0 | 8.33 | 11.16 | -22.34 | -7.77 | 113.62 | 2.47 | 39.81 | 104.88 | 29.56 | 13.2 | -4.88 | -125.61 | -166.34 | 32.91 | -2.0 | -4.11 |
| 22Q2 (14) | 16.48 | 12.11 | -11.45 | 5.97 | 41.81 | -24.91 | 7.35 | 79.71 | -14.73 | 6.19 | 88.72 | -11.57 | 3.13 | 121.99 | -1.88 | 1.65 | 96.43 | -13.61 | 0.25 | 8.7 | -3.85 | 14.37 | 28.76 | 0.49 | 110.88 | 23.06 | 60.65 | 80.95 | -20.81 | -11.85 | 19.05 | 957.14 | 133.33 | 33.58 | -2.16 | -4.87 |
| 22Q1 (13) | 14.70 | -3.8 | -18.56 | 4.21 | -12.84 | -42.17 | 4.09 | -14.44 | -43.9 | 3.28 | -13.91 | -43.84 | 1.41 | -11.32 | -51.38 | 0.84 | -11.58 | -48.47 | 0.23 | 0.0 | -14.81 | 11.16 | -2.45 | -18.78 | 90.10 | 9.69 | 15.14 | 102.22 | 0.36 | 2.22 | -2.22 | -20.0 | 0 | 34.32 | -0.44 | -5.87 |
| 21Q4 (12) | 15.28 | -2.05 | -9.85 | 4.83 | -12.18 | -22.35 | 4.78 | -19.39 | -25.89 | 3.81 | -22.87 | -27.43 | 1.59 | -23.56 | -40.89 | 0.95 | -24.6 | -35.37 | 0.23 | -4.17 | -14.81 | 11.44 | -5.45 | -13.92 | 82.14 | 1.07 | -12.19 | 101.85 | 9.94 | 6.7 | -1.85 | -125.19 | -161.11 | 34.47 | 0.44 | -7.09 |
| 21Q3 (11) | 15.60 | -16.17 | -4.7 | 5.50 | -30.82 | 12.94 | 5.93 | -31.21 | 7.43 | 4.94 | -29.43 | 8.81 | 2.08 | -34.8 | -12.24 | 1.26 | -34.03 | -4.55 | 0.24 | -7.69 | -11.11 | 12.10 | -15.38 | 0.83 | 81.27 | 17.75 | -10.88 | 92.65 | 0.88 | 5.88 | 7.35 | -9.93 | -41.18 | 34.32 | -2.78 | -4.29 |
| 21Q2 (10) | 18.61 | 3.1 | 6.4 | 7.95 | 9.2 | 23.64 | 8.62 | 18.24 | 23.85 | 7.00 | 19.86 | 25.22 | 3.19 | 10.0 | 8.14 | 1.91 | 17.18 | 19.37 | 0.26 | -3.7 | -3.7 | 14.30 | 4.08 | 4.92 | 69.02 | -11.8 | -23.82 | 91.84 | -8.16 | -0.87 | 8.16 | 0 | 11.02 | 35.30 | -3.18 | -5.82 |
| 21Q1 (9) | 18.05 | 6.49 | 0.0 | 7.28 | 17.04 | 2.25 | 7.29 | 13.02 | 4.44 | 5.84 | 11.24 | 3.55 | 2.90 | 7.81 | -6.15 | 1.63 | 10.88 | 1.24 | 0.27 | 0.0 | 0.0 | 13.74 | 3.39 | -0.07 | 78.25 | -16.35 | -19.27 | 100.00 | 4.76 | -1.45 | 0.00 | -100.0 | 100.0 | 36.46 | -1.73 | 0 |
| 20Q4 (8) | 16.95 | 3.54 | 4.18 | 6.22 | 27.72 | 19.16 | 6.45 | 16.85 | 25.73 | 5.25 | 15.64 | 28.68 | 2.69 | 13.5 | 17.98 | 1.47 | 11.36 | 26.72 | 0.27 | 0.0 | 3.85 | 13.29 | 10.75 | 10.02 | 93.54 | 2.58 | -12.56 | 95.45 | 9.09 | -6.45 | 3.03 | -75.76 | 248.48 | 37.10 | 3.46 | 0.57 |
| 20Q3 (7) | 16.37 | -6.4 | -1.27 | 4.87 | -24.26 | -13.65 | 5.52 | -20.69 | 0.36 | 4.54 | -18.78 | 2.48 | 2.37 | -19.66 | -7.42 | 1.32 | -17.5 | 4.76 | 0.27 | 0.0 | 3.85 | 12.00 | -11.96 | -1.64 | 91.19 | 0.65 | -21.74 | 87.50 | -5.56 | -14.12 | 12.50 | 70.0 | 762.5 | 35.86 | -4.32 | -0.31 |
| 20Q2 (6) | 17.49 | -3.1 | 3.92 | 6.43 | -9.69 | 16.49 | 6.96 | -0.29 | 22.75 | 5.59 | -0.89 | 19.19 | 2.95 | -4.53 | 13.9 | 1.60 | -0.62 | 25.0 | 0.27 | 0.0 | 8.0 | 13.63 | -0.87 | 6.48 | 90.60 | -6.53 | -25.09 | 92.65 | -8.7 | -5.5 | 7.35 | 600.0 | 275.0 | 37.48 | 0 | 0.51 |
| 20Q1 (5) | 18.05 | 10.94 | 7.31 | 7.12 | 36.4 | 26.47 | 6.98 | 36.06 | 27.84 | 5.64 | 38.24 | 33.97 | 3.09 | 35.53 | 33.77 | 1.61 | 38.79 | 15.83 | 0.27 | 3.85 | -10.0 | 13.75 | 13.82 | 11.97 | 96.93 | -9.39 | -15.65 | 101.47 | -0.56 | -0.56 | -1.47 | 27.94 | 63.97 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 16.27 | -1.87 | 0.0 | 5.22 | -7.45 | 0.0 | 5.13 | -6.73 | 0.0 | 4.08 | -7.9 | 0.0 | 2.28 | -10.94 | 0.0 | 1.16 | -7.94 | 0.0 | 0.26 | 0.0 | 0.0 | 12.08 | -0.98 | 0.0 | 106.98 | -8.19 | 0.0 | 102.04 | 0.15 | 0.0 | -2.04 | -8.16 | 0.0 | 36.89 | 2.56 | 0.0 |
| 19Q3 (3) | 16.58 | -1.49 | 0.0 | 5.64 | 2.17 | 0.0 | 5.50 | -3.0 | 0.0 | 4.43 | -5.54 | 0.0 | 2.56 | -1.16 | 0.0 | 1.26 | -1.56 | 0.0 | 0.26 | 4.0 | 0.0 | 12.20 | -4.69 | 0.0 | 116.52 | -3.65 | 0.0 | 101.89 | 3.92 | 0.0 | -1.89 | -196.23 | 0.0 | 35.97 | -3.54 | 0.0 |
| 19Q2 (2) | 16.83 | 0.06 | 0.0 | 5.52 | -1.95 | 0.0 | 5.67 | 3.85 | 0.0 | 4.69 | 11.4 | 0.0 | 2.59 | 12.12 | 0.0 | 1.28 | -7.91 | 0.0 | 0.25 | -16.67 | 0.0 | 12.80 | 4.23 | 0.0 | 120.94 | 5.25 | 0.0 | 98.04 | -3.92 | 0.0 | 1.96 | 148.04 | 0.0 | 37.29 | 1.39 | 0.0 |
| 19Q1 (1) | 16.82 | 0.0 | 0.0 | 5.63 | 0.0 | 0.0 | 5.46 | 0.0 | 0.0 | 4.21 | 0.0 | 0.0 | 2.31 | 0.0 | 0.0 | 1.39 | 0.0 | 0.0 | 0.30 | 0.0 | 0.0 | 12.28 | 0.0 | 0.0 | 114.91 | 0.0 | 0.0 | 102.04 | 0.0 | 0.0 | -4.08 | 0.0 | 0.0 | 36.78 | 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) | 13.26 | -11.24 | 2.56 | -43.49 | 7.26 | 4.93 | 2.76 | -42.38 | 2.26 | -42.2 | 4.27 | -40.11 | 2.46 | -38.5 | 0.94 | 0.0 | 10.60 | -12.76 | 95.39 | -11.62 | 92.24 | -2.33 | 7.76 | 39.66 | 0.23 | 50.18 | 35.04 | 4.32 |
| 2022 (9) | 14.94 | -11.39 | 4.53 | -28.89 | 6.92 | 18.83 | 4.79 | -27.86 | 3.91 | -27.32 | 7.13 | -29.82 | 4.00 | -30.19 | 0.94 | -6.93 | 12.15 | -5.67 | 107.93 | 31.4 | 94.44 | -1.58 | 5.56 | 37.5 | 0.15 | 283.61 | 33.59 | -4.33 |
| 2021 (8) | 16.86 | -1.98 | 6.37 | 3.75 | 5.82 | -6.5 | 6.64 | 2.63 | 5.38 | 2.48 | 10.16 | -9.77 | 5.73 | -3.7 | 1.01 | -5.61 | 12.88 | -2.13 | 82.14 | -12.19 | 95.96 | 1.05 | 4.04 | -19.81 | 0.04 | -48.9 | 35.11 | -4.57 |
| 2020 (7) | 17.20 | 3.49 | 6.14 | 11.64 | 6.23 | -1.62 | 6.47 | 18.93 | 5.25 | 20.69 | 11.26 | 16.44 | 5.95 | 1.54 | 1.07 | -14.4 | 13.16 | 6.65 | 93.54 | -12.56 | 94.96 | -5.97 | 5.04 | 0 | 0.08 | -53.4 | 36.79 | 0.19 |
| 2019 (6) | 16.62 | 10.21 | 5.50 | 150.0 | 6.33 | 147.35 | 5.44 | 131.49 | 4.35 | 113.24 | 9.67 | 131.34 | 5.86 | 106.34 | 1.25 | -10.07 | 12.34 | 146.8 | 106.98 | 124.75 | 100.99 | 7.81 | -0.99 | 0 | 0.17 | -0.13 | 36.72 | -1.79 |
| 2018 (5) | 15.08 | -7.99 | 2.20 | -4.76 | 2.56 | 16.86 | 2.35 | -46.59 | 2.04 | -47.29 | 4.18 | -42.02 | 2.84 | -43.87 | 1.39 | 6.11 | 5.00 | -25.04 | 47.60 | 1.62 | 93.67 | 78.11 | 6.33 | -86.65 | 0.17 | 0 | 37.39 | -5.7 |
| 2017 (4) | 16.39 | -6.72 | 2.31 | -14.76 | 2.19 | -16.29 | 4.40 | 14.58 | 3.87 | 22.86 | 7.21 | 40.82 | 5.06 | 34.57 | 1.31 | 10.08 | 6.67 | 1.68 | 46.84 | 22.91 | 52.59 | -26.22 | 47.41 | 59.6 | 0.00 | 0 | 39.65 | -5.84 |
| 2016 (3) | 17.57 | -4.15 | 2.71 | -27.54 | 2.62 | -1.9 | 3.84 | -20.66 | 3.15 | -19.44 | 5.12 | -13.07 | 3.76 | -15.51 | 1.19 | 4.39 | 6.56 | -13.8 | 38.11 | 10.69 | 71.29 | -8.14 | 29.70 | 32.6 | 0.00 | 0 | 42.11 | 4.47 |
| 2015 (2) | 18.33 | -9.3 | 3.74 | -35.29 | 2.67 | 26.74 | 4.84 | -32.21 | 3.91 | -35.58 | 5.89 | -37.34 | 4.45 | -37.68 | 1.14 | -3.39 | 7.61 | -18.61 | 34.43 | 13.56 | 77.60 | -4.05 | 22.40 | 17.12 | 0.00 | 0 | 40.31 | 3.17 |
| 2014 (1) | 20.21 | 0 | 5.78 | 0 | 2.10 | 0.39 | 7.14 | 0 | 6.07 | 0 | 9.40 | 0 | 7.14 | 0 | 1.18 | -12.59 | 9.35 | -13.35 | 30.32 | -9.41 | 80.87 | -14.1 | 19.13 | 226.61 | 0.00 | 0 | 39.07 | 1.06 |
