- 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) | 23.97 | 2.83 | -10.53 | 5.12 | 253.1 | -18.47 | 5.15 | 228.03 | -16.4 | 4.09 | 229.84 | -16.53 | 5.79 | 386.55 | -23.72 | 1.99 | 323.4 | -16.74 | 0.46 | 35.29 | -2.13 | 6.04 | 140.64 | -12.72 | 230.89 | 26.05 | -7.03 | 100.00 | 8.33 | -1.3 | 0.00 | -100.0 | 100.0 | 7.55 | -20.36 | -3.58 |
| 23Q3 (19) | 23.31 | -2.02 | -3.04 | 1.45 | -52.61 | 2.84 | 1.57 | -49.03 | 10.56 | 1.24 | -35.75 | 7.83 | 1.19 | -48.93 | -2.46 | 0.47 | -47.19 | 4.44 | 0.34 | -20.93 | -2.86 | 2.51 | -35.48 | 10.57 | 183.17 | 3.26 | -14.67 | 92.31 | -7.69 | -7.69 | 7.69 | 0 | 0 | 9.48 | 8.34 | -2.57 |
| 23Q2 (18) | 23.79 | -9.37 | -5.41 | 3.06 | -8.66 | -11.56 | 3.08 | -9.94 | -12.5 | 1.93 | -29.56 | -27.99 | 2.33 | -23.86 | -28.75 | 0.89 | -11.88 | -21.24 | 0.43 | 22.86 | 4.88 | 3.89 | -8.25 | -7.82 | 177.38 | -6.48 | -8.11 | 100.00 | 0.0 | 3.33 | 0.00 | -100.0 | 0 | 8.75 | -16.9 | -4.58 |
| 23Q1 (17) | 26.25 | -2.02 | -8.92 | 3.35 | -46.66 | -49.17 | 3.42 | -44.48 | -48.1 | 2.74 | -44.08 | -47.81 | 3.06 | -59.68 | -53.57 | 1.01 | -57.74 | -51.44 | 0.35 | -25.53 | -10.26 | 4.24 | -38.73 | -41.76 | 189.68 | -23.62 | -5.76 | 100.00 | -1.3 | 0.0 | 3.23 | 222.58 | 0 | 10.53 | 34.48 | 4.26 |
| 22Q4 (16) | 26.79 | 11.44 | 5.31 | 6.28 | 345.39 | -3.53 | 6.16 | 333.8 | -5.95 | 4.90 | 326.09 | -6.31 | 7.59 | 522.13 | -12.76 | 2.39 | 431.11 | -15.55 | 0.47 | 34.29 | -11.32 | 6.92 | 204.85 | -2.95 | 248.34 | 15.69 | 2.79 | 101.32 | 1.32 | 1.32 | -2.63 | 0 | 0 | 7.83 | -19.53 | 14.31 |
| 22Q3 (15) | 24.04 | -4.41 | 1.86 | 1.41 | -59.25 | -20.79 | 1.42 | -59.66 | -23.24 | 1.15 | -57.09 | -12.88 | 1.22 | -62.69 | 2.52 | 0.45 | -60.18 | -8.16 | 0.35 | -14.63 | 2.94 | 2.27 | -46.21 | -19.22 | 214.66 | 11.21 | 17.61 | 100.00 | 3.33 | 0.0 | 0.00 | 0 | 0 | 9.73 | 6.11 | -3.57 |
| 22Q2 (14) | 25.15 | -12.73 | 0.52 | 3.46 | -47.5 | -2.26 | 3.52 | -46.59 | -0.85 | 2.68 | -48.95 | 0.37 | 3.27 | -50.38 | 17.63 | 1.13 | -45.67 | -4.24 | 0.41 | 5.13 | -4.65 | 4.22 | -42.03 | -3.43 | 193.03 | -4.09 | 33.79 | 96.77 | -3.23 | -3.23 | 0.00 | 0 | 0 | 9.17 | -9.21 | -6.81 |
| 22Q1 (13) | 28.82 | 13.29 | 6.7 | 6.59 | 1.23 | 33.4 | 6.59 | 0.61 | 30.75 | 5.25 | 0.38 | 29.63 | 6.59 | -24.25 | 47.76 | 2.08 | -26.5 | 20.93 | 0.39 | -26.42 | -7.14 | 7.28 | 2.1 | 25.3 | 201.27 | -16.7 | 40.07 | 100.00 | 0.0 | 0.0 | 0.00 | 0 | -100.0 | 10.10 | 47.45 | -3.44 |
| 21Q4 (12) | 25.44 | 7.8 | 4.82 | 6.51 | 265.73 | 38.22 | 6.55 | 254.05 | 40.86 | 5.23 | 296.21 | 43.29 | 8.70 | 631.09 | 53.44 | 2.83 | 477.55 | 34.76 | 0.53 | 55.88 | -5.36 | 7.13 | 153.74 | 37.12 | 241.61 | 32.37 | 29.05 | 100.00 | 0.0 | 0.0 | 0.00 | 0 | 100.0 | 6.85 | -32.11 | -12.4 |
| 21Q3 (11) | 23.60 | -5.68 | -1.13 | 1.78 | -49.72 | -47.65 | 1.85 | -47.89 | -46.06 | 1.32 | -50.56 | -52.0 | 1.19 | -57.19 | -59.11 | 0.49 | -58.47 | -59.84 | 0.34 | -20.93 | -22.73 | 2.81 | -35.7 | -30.45 | 182.52 | 26.5 | 6.31 | 100.00 | 0.0 | 0.0 | 0.00 | 0 | 0 | 10.09 | 2.54 | 9.91 |
| 21Q2 (10) | 25.02 | -7.37 | -0.75 | 3.54 | -28.34 | -14.29 | 3.55 | -29.56 | -25.42 | 2.67 | -34.07 | -30.83 | 2.78 | -37.67 | -33.01 | 1.18 | -31.4 | -43.27 | 0.43 | 2.38 | -20.37 | 4.37 | -24.78 | -16.76 | 144.28 | 0.41 | 29.54 | 100.00 | 0.0 | 14.81 | 0.00 | -100.0 | -100.0 | 9.84 | -5.93 | 0 |
| 21Q1 (9) | 27.01 | 11.29 | 0.0 | 4.94 | 4.88 | -1.4 | 5.04 | 8.39 | -0.98 | 4.05 | 10.96 | -0.74 | 4.46 | -21.34 | 10.95 | 1.72 | -18.1 | -7.53 | 0.42 | -25.0 | -6.67 | 5.81 | 11.73 | 1.75 | 143.69 | -23.25 | 60.84 | 100.00 | 0.0 | 0.0 | 2.78 | 230.56 | 0 | 10.46 | 33.76 | 0 |
| 20Q4 (8) | 24.27 | 1.68 | 1.8 | 4.71 | 38.53 | -3.88 | 4.65 | 35.57 | -7.55 | 3.65 | 32.73 | -9.43 | 5.67 | 94.85 | -7.5 | 2.10 | 72.13 | -23.64 | 0.56 | 27.27 | -17.65 | 5.20 | 28.71 | -5.11 | 187.22 | 9.05 | 28.46 | 100.00 | 0.0 | 2.33 | -2.13 | 0 | -193.62 | 7.82 | -14.81 | 1.82 |
| 20Q3 (7) | 23.87 | -5.32 | 4.46 | 3.40 | -17.68 | 236.63 | 3.43 | -27.94 | 157.89 | 2.75 | -28.76 | 169.61 | 2.91 | -29.88 | 226.97 | 1.22 | -41.35 | 171.11 | 0.44 | -18.52 | 0.0 | 4.04 | -23.05 | 117.2 | 171.69 | 54.15 | 65.29 | 100.00 | 14.81 | 20.0 | 0.00 | -100.0 | -100.0 | 9.18 | 0 | -16.85 |
| 20Q2 (6) | 25.21 | -6.66 | 11.35 | 4.13 | -17.56 | 215.27 | 4.76 | -6.48 | 71.84 | 3.86 | -5.39 | 62.87 | 4.15 | 3.23 | 86.94 | 2.08 | 11.83 | 77.78 | 0.54 | 20.0 | 10.2 | 5.25 | -8.06 | 52.62 | 111.38 | 24.67 | 19.14 | 87.10 | -12.9 | 74.19 | 12.90 | 0 | -77.42 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 27.01 | 13.3 | 0.19 | 5.01 | 2.24 | -0.6 | 5.09 | 1.19 | -0.2 | 4.08 | 1.24 | 0.0 | 4.02 | -34.42 | 9.54 | 1.86 | -32.36 | 10.71 | 0.45 | -33.82 | 9.76 | 5.71 | 4.2 | -1.89 | 89.34 | -38.7 | 1.25 | 100.00 | 2.33 | 0.0 | 0.00 | -100.0 | 0 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 23.84 | 4.33 | 0.0 | 4.90 | 385.15 | 0.0 | 5.03 | 278.2 | 0.0 | 4.03 | 295.1 | 0.0 | 6.13 | 588.76 | 0.0 | 2.75 | 511.11 | 0.0 | 0.68 | 54.55 | 0.0 | 5.48 | 194.62 | 0.0 | 145.74 | 40.31 | 0.0 | 97.73 | 17.27 | 0.0 | 2.27 | -93.18 | 0.0 | 7.68 | -30.43 | 0.0 |
| 19Q3 (3) | 22.85 | 0.93 | 0.0 | 1.01 | -22.9 | 0.0 | 1.33 | -51.99 | 0.0 | 1.02 | -56.96 | 0.0 | 0.89 | -59.91 | 0.0 | 0.45 | -61.54 | 0.0 | 0.44 | -10.2 | 0.0 | 1.86 | -45.93 | 0.0 | 103.87 | 11.1 | 0.0 | 83.33 | 66.67 | 0.0 | 33.33 | -41.67 | 0.0 | 11.04 | 12.88 | 0.0 |
| 19Q2 (2) | 22.64 | -16.02 | 0.0 | 1.31 | -74.01 | 0.0 | 2.77 | -45.69 | 0.0 | 2.37 | -41.91 | 0.0 | 2.22 | -39.51 | 0.0 | 1.17 | -30.36 | 0.0 | 0.49 | 19.51 | 0.0 | 3.44 | -40.89 | 0.0 | 93.49 | 5.95 | 0.0 | 50.00 | -50.0 | 0.0 | 57.14 | 0 | 0.0 | 9.78 | -14.36 | 0.0 |
| 19Q1 (1) | 26.96 | 0.0 | 0.0 | 5.04 | 0.0 | 0.0 | 5.10 | 0.0 | 0.0 | 4.08 | 0.0 | 0.0 | 3.67 | 0.0 | 0.0 | 1.68 | 0.0 | 0.0 | 0.41 | 0.0 | 0.0 | 5.82 | 0.0 | 0.0 | 88.24 | 0.0 | 0.0 | 100.00 | 0.0 | 0.0 | 0.00 | 0.0 | 0.0 | 11.42 | 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) | 24.31 | -7.64 | 3.46 | -26.23 | 0.57 | 13.31 | 3.52 | -24.63 | 2.67 | -27.64 | 12.17 | -31.94 | 3.82 | -28.86 | 1.35 | -3.57 | 4.36 | -19.11 | 230.89 | -7.03 | 97.90 | -2.1 | 1.40 | 0 | 0.57 | -12.86 | 8.92 | -1.65 |
| 2022 (9) | 26.32 | 3.83 | 4.69 | 1.52 | 0.50 | -6.25 | 4.67 | 0.0 | 3.69 | 0.54 | 17.88 | 6.87 | 5.37 | -1.29 | 1.40 | -2.78 | 5.39 | -0.55 | 248.34 | 2.79 | 100.00 | 1.36 | -0.56 | 0 | 0.66 | -24.48 | 9.07 | 1.68 |
| 2021 (8) | 25.35 | 1.56 | 4.62 | 6.21 | 0.53 | 9.82 | 4.67 | 3.78 | 3.67 | 2.23 | 16.73 | 1.21 | 5.44 | -13.38 | 1.44 | -16.28 | 5.42 | 7.11 | 241.61 | 29.05 | 98.66 | 1.79 | 1.34 | -56.38 | 0.87 | 0 | 8.92 | -3.46 |
| 2020 (7) | 24.96 | 3.87 | 4.35 | 29.85 | 0.49 | -3.83 | 4.50 | 18.42 | 3.59 | 17.32 | 16.53 | 28.64 | 6.28 | 21.0 | 1.72 | 2.38 | 5.06 | 15.79 | 187.22 | 28.46 | 96.92 | 9.04 | 3.08 | -74.83 | 0.00 | 0 | 9.24 | -3.85 |
| 2019 (6) | 24.03 | -5.21 | 3.35 | 58.77 | 0.50 | 4.41 | 3.80 | 26.25 | 3.06 | 28.57 | 12.85 | 53.71 | 5.19 | 47.44 | 1.68 | 15.07 | 4.37 | 23.45 | 145.74 | -5.88 | 88.89 | 27.64 | 12.22 | -59.74 | 0.00 | 0 | 9.61 | -10.85 |
| 2018 (5) | 25.35 | 1.52 | 2.11 | -42.82 | 0.48 | 29.47 | 3.01 | -10.15 | 2.38 | -5.93 | 8.36 | -4.02 | 3.52 | -7.37 | 1.46 | -2.01 | 3.54 | -5.09 | 154.85 | 24.31 | 69.64 | -36.26 | 30.36 | 0 | 0.00 | 0 | 10.78 | 8.12 |
| 2017 (4) | 24.97 | -2.88 | 3.69 | -21.49 | 0.37 | 75.0 | 3.35 | -1.76 | 2.53 | -8.66 | 8.71 | -10.39 | 3.80 | -9.09 | 1.49 | 0.0 | 3.73 | 0.81 | 124.57 | -9.78 | 109.26 | -20.54 | -9.26 | 0 | 0.00 | 0 | 9.97 | -6.82 |
| 2016 (3) | 25.71 | 4.98 | 4.70 | 74.07 | 0.21 | -37.42 | 3.41 | 20.07 | 2.77 | 24.22 | 9.72 | 41.28 | 4.18 | 30.62 | 1.49 | 5.67 | 3.70 | 17.46 | 138.07 | 5.84 | 137.50 | 41.8 | -37.50 | 0 | 0.00 | 0 | 10.70 | 2.88 |
| 2015 (2) | 24.49 | -13.55 | 2.70 | -14.01 | 0.34 | 15.16 | 2.84 | -12.88 | 2.23 | -16.17 | 6.88 | -4.31 | 3.20 | -9.09 | 1.41 | 7.63 | 3.15 | -37.38 | 130.45 | 21.61 | 96.97 | 0.0 | 6.06 | 100.0 | 0.00 | 0 | 10.40 | -2.62 |
| 2014 (1) | 28.33 | 0 | 3.14 | 0 | 0.30 | -12.03 | 3.26 | 0 | 2.66 | 0 | 7.19 | 0 | 3.52 | 0 | 1.31 | 10.08 | 5.03 | 6.79 | 107.27 | 2.2 | 96.97 | 3.66 | 3.03 | -53.03 | 0.00 | 0 | 10.68 | -0.84 |
