- 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) | 27.41 | 15.65 | 5.71 | 1.30 | 88.41 | 6600.0 | -0.54 | -205.88 | 74.04 | -0.08 | -113.33 | 88.41 | -0.10 | -112.35 | 87.8 | 0.33 | -28.26 | 230.0 | 0.22 | -8.33 | 0.0 | 8.01 | -5.32 | 25.35 | 438.59 | -2.82 | -2.0 | -242.22 | -280.71 | -21052.22 | 342.22 | 1105.28 | 244.21 | 11.49 | 2.68 | -5.74 |
| 23Q3 (19) | 23.70 | 2.91 | -4.9 | 0.69 | 60.47 | -12.66 | 0.51 | 75.86 | -79.6 | 0.60 | -21.05 | -64.07 | 0.81 | -22.86 | -63.01 | 0.46 | -4.17 | -33.33 | 0.24 | 0.0 | 0.0 | 8.46 | 0.71 | -17.7 | 451.34 | -5.55 | 5.99 | 134.04 | -7.2 | 324.47 | -34.04 | 23.4 | -150.08 | 11.19 | 9.6 | -0.53 |
| 23Q2 (18) | 23.03 | -13.36 | -3.24 | 0.43 | -85.52 | -38.57 | 0.29 | -89.14 | -68.48 | 0.76 | -59.57 | -17.39 | 1.05 | -56.07 | -24.46 | 0.48 | -32.39 | 9.09 | 0.24 | 4.35 | -7.69 | 8.40 | -22.79 | 13.36 | 477.85 | -1.33 | 2.25 | 144.44 | 29.39 | 91.24 | -44.44 | -281.89 | -281.64 | 10.21 | -12.36 | 5.04 |
| 23Q1 (17) | 26.58 | 2.51 | 15.67 | 2.97 | 14950.0 | 421.05 | 2.67 | 228.37 | -5.32 | 1.88 | 372.46 | -30.37 | 2.39 | 391.46 | -37.92 | 0.71 | 610.0 | -18.39 | 0.23 | 4.55 | -8.0 | 10.88 | 70.27 | 15.62 | 484.27 | 8.21 | 3.14 | 111.64 | 9556.68 | 460.22 | -11.64 | -111.71 | -114.53 | 11.65 | -4.43 | 13.77 |
| 22Q4 (16) | 25.93 | 4.05 | 10.43 | -0.02 | -102.53 | -102.47 | -2.08 | -183.2 | -211.23 | -0.69 | -141.32 | -154.76 | -0.82 | -137.44 | -140.0 | 0.10 | -85.51 | -79.17 | 0.22 | -8.33 | -24.14 | 6.39 | -37.84 | -12.23 | 447.54 | 5.1 | -0.66 | 1.16 | -96.34 | -97.33 | 99.42 | 46.25 | 75.45 | 12.19 | 8.36 | 32.64 |
| 22Q3 (15) | 24.92 | 4.71 | 18.38 | 0.79 | 12.86 | -34.17 | 2.50 | 171.74 | 60.26 | 1.67 | 81.52 | -3.47 | 2.19 | 57.55 | -20.36 | 0.69 | 56.82 | 9.52 | 0.24 | -7.69 | -14.29 | 10.28 | 38.73 | 37.62 | 425.84 | -8.88 | -7.56 | 31.58 | -58.19 | -58.87 | 67.98 | 177.84 | 192.85 | 11.25 | 15.74 | 29.31 |
| 22Q2 (14) | 23.80 | 3.57 | 5.73 | 0.70 | 22.81 | -69.03 | 0.92 | -67.38 | -63.92 | 0.92 | -65.93 | -54.0 | 1.39 | -63.9 | -55.02 | 0.44 | -49.43 | -37.14 | 0.26 | 4.0 | 0.0 | 7.41 | -21.25 | -17.39 | 467.33 | -0.47 | -3.66 | 75.53 | 279.03 | -14.66 | 24.47 | -69.44 | 112.87 | 9.72 | -5.08 | 8.12 |
| 22Q1 (13) | 22.98 | -2.13 | 0.09 | 0.57 | -29.63 | -78.57 | 2.82 | 50.8 | -12.42 | 2.70 | 114.29 | 9.31 | 3.85 | 87.8 | -10.05 | 0.87 | 81.25 | -5.43 | 0.25 | -13.79 | -16.67 | 9.41 | 29.26 | 1.62 | 469.52 | 4.22 | -3.75 | 19.93 | -54.01 | -75.95 | 80.07 | 41.3 | 366.67 | 10.24 | 11.43 | 14.67 |
| 21Q4 (12) | 23.48 | 11.54 | 0.09 | 0.81 | -32.5 | -52.63 | 1.87 | 19.87 | 114.94 | 1.26 | -27.17 | -14.86 | 2.05 | -25.45 | -15.29 | 0.48 | -23.81 | -20.0 | 0.29 | 3.57 | 0.0 | 7.28 | -2.54 | 1.68 | 450.51 | -2.2 | -1.02 | 43.33 | -43.57 | -77.99 | 56.67 | 144.1 | 158.49 | 9.19 | 5.63 | 5.88 |
| 21Q3 (11) | 21.05 | -6.49 | -15.8 | 1.20 | -46.9 | -64.07 | 1.56 | -38.82 | -51.55 | 1.73 | -13.5 | -27.62 | 2.75 | -11.0 | -31.25 | 0.63 | -10.0 | -26.74 | 0.28 | 7.69 | -3.45 | 7.47 | -16.72 | -22.67 | 460.65 | -5.03 | -0.18 | 76.79 | -13.24 | -25.96 | 23.21 | 101.96 | 682.02 | 8.70 | -3.23 | 1.4 |
| 21Q2 (10) | 22.51 | -1.96 | -16.72 | 2.26 | -15.04 | -37.4 | 2.55 | -20.81 | -22.26 | 2.00 | -19.03 | -17.01 | 3.09 | -27.8 | -24.45 | 0.70 | -23.91 | -23.08 | 0.26 | -13.33 | -13.33 | 8.97 | -3.13 | -11.45 | 485.06 | -0.56 | 1.75 | 88.51 | 6.84 | -19.54 | 11.49 | -33.01 | 214.94 | 8.99 | 0.67 | 0 |
| 21Q1 (9) | 22.96 | -2.13 | -14.33 | 2.66 | 55.56 | 16.16 | 3.22 | 270.11 | 82.95 | 2.47 | 66.89 | 78.99 | 4.28 | 76.86 | 112.94 | 0.92 | 53.33 | 55.93 | 0.30 | 3.45 | 15.38 | 9.26 | 29.33 | -5.41 | 487.80 | 7.17 | 3.64 | 82.84 | -57.92 | -36.4 | 17.16 | 117.71 | 156.73 | 8.93 | 2.88 | 0 |
| 20Q4 (8) | 23.46 | -6.16 | -13.18 | 1.71 | -48.8 | -31.05 | 0.87 | -72.98 | -42.38 | 1.48 | -38.08 | -4.52 | 2.42 | -39.5 | 10.5 | 0.60 | -30.23 | -4.76 | 0.29 | 0.0 | 16.0 | 7.16 | -25.88 | -28.83 | 455.16 | -1.37 | 0.2 | 196.88 | 89.84 | 19.87 | -96.88 | -2328.79 | -50.82 | 8.68 | 1.17 | -24.98 |
| 20Q3 (7) | 25.00 | -7.51 | -0.83 | 3.34 | -7.48 | 94.19 | 3.22 | -1.83 | 157.6 | 2.39 | -0.83 | 35.8 | 4.00 | -2.2 | 48.15 | 0.86 | -5.49 | 16.22 | 0.29 | -3.33 | 7.41 | 9.66 | -4.64 | 4.21 | 461.47 | -3.2 | -1.1 | 103.70 | -5.72 | -24.69 | -3.99 | 60.11 | 89.42 | 8.58 | 0 | -15.96 |
| 20Q2 (6) | 27.03 | 0.86 | -2.21 | 3.61 | 57.64 | 121.47 | 3.28 | 86.36 | 178.66 | 2.41 | 74.64 | 159.07 | 4.09 | 103.48 | 174.91 | 0.91 | 54.24 | 219.74 | 0.30 | 15.38 | 15.38 | 10.13 | 3.47 | 131.28 | 476.73 | 1.29 | 0.85 | 110.00 | -15.55 | 381.51 | -10.00 | 66.94 | -107.19 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 26.80 | -0.81 | -5.87 | 2.29 | -7.66 | -27.53 | 1.76 | 16.56 | -21.43 | 1.38 | -10.97 | -24.59 | 2.01 | -8.22 | -16.25 | 0.59 | -6.35 | -35.16 | 0.26 | 4.0 | -18.75 | 9.79 | -2.68 | -6.76 | 470.65 | 3.61 | 24.18 | 130.25 | -20.69 | -7.74 | -30.25 | 52.91 | 26.54 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 27.02 | 7.18 | 0.0 | 2.48 | 44.19 | 0.0 | 1.51 | 20.8 | 0.0 | 1.55 | -11.93 | 0.0 | 2.19 | -18.89 | 0.0 | 0.63 | -14.86 | 0.0 | 0.25 | -7.41 | 0.0 | 10.06 | 8.52 | 0.0 | 454.26 | -2.65 | 0.0 | 164.23 | 19.26 | 0.0 | -64.23 | -70.36 | 0.0 | 11.57 | 13.32 | 0.0 |
| 19Q3 (3) | 25.21 | -8.79 | 0.0 | 1.72 | 5.52 | 0.0 | 1.25 | 129.98 | 0.0 | 1.76 | 143.14 | 0.0 | 2.70 | 149.45 | 0.0 | 0.74 | 197.37 | 0.0 | 0.27 | 3.85 | 0.0 | 9.27 | 111.64 | 0.0 | 466.62 | -1.29 | 0.0 | 137.70 | 452.42 | 0.0 | -37.70 | -127.11 | 0.0 | 10.21 | -7.18 | 0.0 |
| 19Q2 (2) | 27.64 | -2.92 | 0.0 | 1.63 | -48.42 | 0.0 | -4.17 | -286.16 | 0.0 | -4.08 | -322.95 | 0.0 | -5.46 | -327.5 | 0.0 | -0.76 | -183.52 | 0.0 | 0.26 | -18.75 | 0.0 | 4.38 | -58.29 | 0.0 | 472.73 | 24.72 | 0.0 | -39.07 | -127.68 | 0.0 | 139.07 | 437.75 | 0.0 | 11.00 | -1.7 | 0.0 |
| 19Q1 (1) | 28.47 | 0.0 | 0.0 | 3.16 | 0.0 | 0.0 | 2.24 | 0.0 | 0.0 | 1.83 | 0.0 | 0.0 | 2.40 | 0.0 | 0.0 | 0.91 | 0.0 | 0.0 | 0.32 | 0.0 | 0.0 | 10.50 | 0.0 | 0.0 | 379.02 | 0.0 | 0.0 | 141.18 | 0.0 | 0.0 | -41.18 | 0.0 | 0.0 | 11.19 | 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) | 25.11 | 3.21 | 1.33 | 150.94 | 6.19 | 7.51 | 0.74 | -34.51 | 0.79 | -34.71 | 4.05 | -37.01 | 2.01 | -3.37 | 0.94 | -3.09 | 8.93 | 6.31 | 438.59 | -2.0 | 180.08 | 287.58 | -80.08 | 0 | 6.81 | 6.19 | 11.12 | 3.15 |
| 2022 (9) | 24.33 | 8.04 | 0.53 | -69.54 | 5.76 | 15.26 | 1.13 | -51.08 | 1.21 | -35.29 | 6.43 | -45.88 | 2.08 | -24.64 | 0.97 | -15.65 | 8.40 | 1.82 | 447.54 | -0.66 | 46.46 | -38.13 | 53.54 | 115.0 | 6.41 | -1.42 | 10.78 | 20.31 |
| 2021 (8) | 22.52 | -11.72 | 1.74 | -36.73 | 5.00 | -13.26 | 2.31 | 0.87 | 1.87 | -3.11 | 11.88 | -2.7 | 2.76 | -6.44 | 1.15 | 0.88 | 8.25 | -9.84 | 450.51 | -1.02 | 75.10 | -37.32 | 24.90 | 0 | 6.51 | -3.64 | 8.96 | -3.55 |
| 2020 (7) | 25.51 | -5.83 | 2.75 | 22.22 | 5.76 | -14.27 | 2.29 | 854.17 | 1.93 | 565.52 | 12.21 | 658.39 | 2.95 | 79.88 | 1.14 | -7.32 | 9.15 | 6.64 | 455.16 | 0.2 | 119.81 | -87.28 | -19.81 | 0 | 6.75 | -6.52 | 9.29 | -15.39 |
| 2019 (6) | 27.09 | 5.33 | 2.25 | 85.95 | 6.72 | 338.86 | 0.24 | -72.41 | 0.29 | -72.38 | 1.61 | -70.99 | 1.64 | -38.58 | 1.23 | -24.54 | 8.58 | 151.61 | 454.26 | 81.2 | 941.76 | 574.63 | -840.66 | 0 | 7.22 | -27.52 | 10.98 | 1.48 |
| 2018 (5) | 25.72 | -11.83 | 1.21 | -53.46 | 1.53 | -8.85 | 0.87 | -71.1 | 1.05 | -52.91 | 5.55 | -49.32 | 2.67 | -37.91 | 1.63 | 3.82 | 3.41 | -39.75 | 250.69 | 26.53 | 139.60 | 61.38 | -39.60 | 0 | 9.97 | 0 | 10.82 | -6.8 |
| 2017 (4) | 29.17 | -8.18 | 2.60 | 11.59 | 1.68 | -13.07 | 3.01 | 19.44 | 2.23 | 16.75 | 10.95 | 20.2 | 4.30 | 22.86 | 1.57 | 9.79 | 5.66 | 2.54 | 198.12 | -13.06 | 86.50 | -6.48 | 13.50 | 77.11 | 0.00 | 0 | 11.61 | 0.09 |
| 2016 (3) | 31.77 | 1.15 | 2.33 | 3.56 | 1.93 | 4.1 | 2.52 | 5.0 | 1.91 | 2.69 | 9.11 | 0.44 | 3.50 | 3.24 | 1.43 | -0.69 | 5.52 | 4.35 | 227.89 | -4.7 | 92.49 | -1.23 | 7.62 | 19.89 | 0.00 | 0 | 11.60 | -3.25 |
| 2015 (2) | 31.41 | 4.25 | 2.25 | -17.58 | 1.86 | 3.63 | 2.40 | -2.44 | 1.86 | -6.53 | 9.07 | -10.29 | 3.39 | -6.09 | 1.44 | -3.36 | 5.29 | 1.15 | 239.13 | 0.24 | 93.64 | -15.8 | 6.36 | 0 | 0.00 | 0 | 11.99 | 6.96 |
| 2014 (1) | 30.13 | 0 | 2.73 | 0 | 1.79 | -5.58 | 2.46 | 0 | 1.99 | 0 | 10.11 | 0 | 3.61 | 0 | 1.49 | -4.49 | 5.23 | 8.51 | 238.55 | -2.26 | 111.21 | 4.91 | -11.21 | 0 | 0.00 | 0 | 11.21 | 8.83 |
