- 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) | 52.88 | 24.42 | -5.39 | 44.19 | 55.05 | -6.28 | 34.25 | -33.74 | -4.65 | 27.76 | -36.45 | -0.72 | 3.05 | -18.88 | 15.97 | 2.58 | -18.87 | 16.74 | 0.09 | 28.57 | 12.5 | 41.99 | -31.99 | -6.65 | 17.90 | -3.71 | -7.01 | 129.03 | 134.05 | -1.72 | -29.03 | -164.71 | 7.21 | 14.24 | -31.51 | -9.93 |
| 23Q3 (19) | 42.50 | -13.02 | -20.93 | 28.50 | -15.15 | -30.84 | 51.69 | -15.68 | -28.15 | 43.68 | -3.15 | -27.71 | 3.76 | 57.32 | -31.14 | 3.18 | 60.61 | -30.72 | 0.07 | 75.0 | -12.5 | 61.74 | -20.53 | -24.23 | 18.59 | 4.91 | -0.48 | 55.13 | 0.65 | -3.75 | 44.87 | -0.74 | 5.06 | 20.79 | -25.08 | -11.68 |
| 23Q2 (18) | 48.86 | -1.97 | -12.47 | 33.59 | -6.12 | -19.47 | 61.30 | 43.26 | -4.37 | 45.10 | 25.28 | -11.78 | 2.39 | 11.68 | -29.91 | 1.98 | 12.5 | -29.29 | 0.04 | -20.0 | -20.0 | 77.69 | 35.56 | 0.63 | 17.72 | -26.35 | -7.18 | 54.78 | -34.5 | -15.8 | 45.20 | 176.09 | 29.43 | 27.75 | 17.04 | 12.62 |
| 23Q1 (17) | 49.84 | -10.82 | -6.63 | 35.78 | -24.11 | -9.58 | 42.79 | 19.13 | -35.87 | 36.00 | 28.76 | -33.82 | 2.14 | -18.63 | -44.85 | 1.76 | -20.36 | -43.77 | 0.05 | -37.5 | -16.67 | 57.31 | 27.41 | -27.63 | 24.06 | 24.99 | -1.96 | 83.63 | -36.3 | 41.0 | 16.37 | 152.33 | -59.76 | 23.71 | 49.97 | -2.79 |
| 22Q4 (16) | 55.89 | 3.98 | 0.07 | 47.15 | 14.41 | 2.95 | 35.92 | -50.07 | -25.18 | 27.96 | -53.72 | -28.95 | 2.63 | -51.83 | -27.35 | 2.21 | -51.85 | -26.09 | 0.08 | 0.0 | 0.0 | 44.98 | -44.8 | -21.58 | 19.25 | 3.05 | -17.24 | 131.29 | 129.2 | 37.61 | -31.29 | -173.26 | -780.75 | 15.81 | -32.84 | -11.63 |
| 22Q3 (15) | 53.75 | -3.71 | -9.39 | 41.21 | -1.2 | -14.47 | 71.94 | 12.23 | 41.2 | 60.42 | 18.19 | 37.57 | 5.46 | 60.12 | 44.83 | 4.59 | 63.93 | 51.49 | 0.08 | 60.0 | 14.29 | 81.48 | 5.54 | 33.93 | 18.68 | -2.15 | -1.84 | 57.28 | -11.96 | -39.43 | 42.71 | 22.29 | 687.33 | 23.54 | -4.46 | 14.49 |
| 22Q2 (14) | 55.82 | 4.57 | -7.41 | 41.71 | 5.41 | -16.51 | 64.10 | -3.93 | 55.96 | 51.12 | -6.03 | 74.65 | 3.41 | -12.11 | 56.42 | 2.80 | -10.54 | 68.67 | 0.05 | -16.67 | -16.67 | 77.20 | -2.51 | 46.49 | 19.09 | -22.21 | -36.07 | 65.06 | 9.69 | -46.48 | 34.92 | -14.17 | 261.99 | 24.64 | 1.03 | 27.08 |
| 22Q1 (13) | 53.38 | -4.42 | -17.59 | 39.57 | -13.6 | -26.31 | 66.72 | 38.97 | 21.29 | 54.40 | 38.25 | 20.97 | 3.88 | 7.18 | 0.52 | 3.13 | 4.68 | 2.96 | 0.06 | -25.0 | -14.29 | 79.19 | 38.06 | 22.07 | 24.54 | 5.5 | -25.5 | 59.31 | -37.83 | -39.23 | 40.69 | 785.27 | 1596.17 | 24.39 | 36.33 | 19.62 |
| 21Q4 (12) | 55.85 | -5.85 | -13.33 | 45.80 | -4.94 | -16.47 | 48.01 | -5.77 | -14.3 | 39.35 | -10.41 | -13.5 | 3.62 | -3.98 | -28.6 | 2.99 | -1.32 | -28.47 | 0.08 | 14.29 | -11.11 | 57.36 | -5.72 | -9.54 | 23.26 | 22.23 | 7.49 | 95.40 | 0.88 | -2.54 | 4.60 | -15.27 | 116.33 | 17.89 | -12.99 | 2.93 |
| 21Q3 (11) | 59.32 | -1.61 | -9.55 | 48.18 | -3.56 | -14.27 | 50.95 | 23.97 | -4.77 | 43.92 | 50.05 | 10.69 | 3.77 | 72.94 | -16.22 | 3.03 | 82.53 | -15.36 | 0.07 | 16.67 | -22.22 | 60.84 | 15.45 | -0.1 | 19.03 | -36.27 | -7.89 | 94.58 | -22.2 | -9.95 | 5.42 | 125.16 | 207.83 | 20.56 | 6.03 | 21.8 |
| 21Q2 (10) | 60.29 | -6.92 | -12.1 | 49.96 | -6.96 | -15.51 | 41.10 | -25.29 | -25.12 | 29.27 | -34.91 | -25.77 | 2.18 | -43.52 | -43.08 | 1.66 | -45.39 | -45.21 | 0.06 | -14.29 | -25.0 | 52.70 | -18.76 | -16.81 | 29.86 | -9.35 | -2.89 | 121.56 | 24.55 | 12.83 | -21.56 | -998.71 | -179.26 | 19.39 | -4.9 | 9.24 |
| 21Q1 (9) | 64.77 | 0.51 | -7.37 | 53.70 | -2.06 | -9.69 | 55.01 | -1.8 | -12.12 | 44.97 | -1.14 | -11.58 | 3.86 | -23.87 | -25.48 | 3.04 | -27.27 | -28.3 | 0.07 | -22.22 | -12.5 | 64.87 | 2.3 | -8.05 | 32.94 | 52.22 | 46.4 | 97.60 | -0.29 | 2.74 | 2.40 | 12.91 | -52.18 | 20.39 | 17.32 | 2.46 |
| 20Q4 (8) | 64.44 | -1.74 | -9.3 | 54.83 | -2.44 | -12.76 | 56.02 | 4.71 | -3.68 | 45.49 | 14.64 | 3.2 | 5.07 | 12.67 | -23.18 | 4.18 | 16.76 | -23.44 | 0.09 | 0.0 | -25.0 | 63.41 | 4.12 | -0.36 | 21.64 | 4.74 | -0.28 | 97.89 | -6.8 | -9.42 | 2.12 | 142.24 | 126.35 | 17.38 | 2.96 | 13.74 |
| 20Q3 (7) | 65.58 | -4.39 | -5.14 | 56.20 | -4.96 | -7.34 | 53.50 | -2.53 | -8.92 | 39.68 | 0.63 | -14.37 | 4.50 | 17.49 | -39.84 | 3.58 | 18.15 | -39.73 | 0.09 | 12.5 | -30.77 | 60.90 | -3.87 | -4.77 | 20.66 | -32.81 | 2.08 | 105.03 | -2.51 | 1.71 | -5.03 | 34.84 | -53.84 | 16.88 | -4.9 | 5.63 |
| 20Q2 (6) | 68.59 | -1.9 | -1.44 | 59.13 | -0.55 | -2.25 | 54.89 | -12.32 | -13.42 | 39.43 | -22.47 | -15.24 | 3.83 | -26.06 | -34.75 | 3.03 | -28.54 | -33.99 | 0.08 | 0.0 | -20.0 | 63.35 | -10.21 | -9.56 | 30.75 | 36.67 | -3.88 | 107.73 | 13.41 | 12.92 | -7.72 | -253.88 | -268.11 | 17.75 | -10.8 | -12.26 |
| 20Q1 (5) | 69.92 | -1.59 | 8.96 | 59.46 | -5.39 | 11.6 | 62.60 | 7.63 | 0.5 | 50.86 | 15.38 | -1.15 | 5.18 | -21.52 | 13.1 | 4.24 | -22.34 | 14.29 | 0.08 | -33.33 | 14.29 | 70.55 | 10.86 | -1.36 | 22.50 | 3.69 | -4.7 | 95.00 | -12.09 | 11.06 | 5.02 | 162.21 | -65.31 | 19.90 | 30.24 | 8.92 |
| 19Q4 (4) | 71.05 | 2.78 | 0.0 | 62.85 | 3.63 | 0.0 | 58.16 | -0.99 | 0.0 | 44.08 | -4.88 | 0.0 | 6.60 | -11.76 | 0.0 | 5.46 | -8.08 | 0.0 | 0.12 | -7.69 | 0.0 | 63.64 | -0.48 | 0.0 | 21.70 | 7.21 | 0.0 | 108.06 | 4.65 | 0.0 | -8.06 | -146.65 | 0.0 | 15.28 | -4.38 | 0.0 |
| 19Q3 (3) | 69.13 | -0.66 | 0.0 | 60.65 | 0.26 | 0.0 | 58.74 | -7.35 | 0.0 | 46.34 | -0.39 | 0.0 | 7.48 | 27.43 | 0.0 | 5.94 | 29.41 | 0.0 | 0.13 | 30.0 | 0.0 | 63.95 | -8.71 | 0.0 | 20.24 | -36.73 | 0.0 | 103.26 | 8.23 | 0.0 | -3.27 | -171.2 | 0.0 | 15.98 | -21.01 | 0.0 |
| 19Q2 (2) | 69.59 | 8.45 | 0.0 | 60.49 | 13.53 | 0.0 | 63.40 | 1.78 | 0.0 | 46.52 | -9.58 | 0.0 | 5.87 | 28.17 | 0.0 | 4.59 | 23.72 | 0.0 | 0.10 | 42.86 | 0.0 | 70.05 | -2.06 | 0.0 | 31.99 | 35.49 | 0.0 | 95.41 | 11.54 | 0.0 | 4.59 | -68.25 | 0.0 | 20.23 | 10.73 | 0.0 |
| 19Q1 (1) | 64.17 | 0.0 | 0.0 | 53.28 | 0.0 | 0.0 | 62.29 | 0.0 | 0.0 | 51.45 | 0.0 | 0.0 | 4.58 | 0.0 | 0.0 | 3.71 | 0.0 | 0.0 | 0.07 | 0.0 | 0.0 | 71.52 | 0.0 | 0.0 | 23.61 | 0.0 | 0.0 | 85.54 | 0.0 | 0.0 | 14.46 | 0.0 | 0.0 | 18.27 | 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) | 48.74 | -10.96 | 36.46 | -14.73 | 10.85 | 2.81 | 45.25 | -22.48 | 36.65 | -22.78 | 11.17 | -26.71 | 9.42 | -25.12 | 0.26 | -3.7 | 56.36 | -18.45 | 17.90 | -7.01 | 80.57 | 9.99 | 19.43 | -27.35 | 0.12 | 52.04 | 20.10 | -6.99 |
| 2022 (9) | 54.74 | -8.68 | 42.76 | -13.25 | 10.55 | 6.58 | 58.37 | 19.05 | 47.46 | 19.37 | 15.24 | 15.28 | 12.58 | 16.59 | 0.27 | 0.0 | 69.11 | 16.86 | 19.25 | -17.24 | 73.25 | -27.13 | 26.75 | 0 | 0.08 | 101.05 | 21.61 | 10.65 |
| 2021 (8) | 59.94 | -10.5 | 49.29 | -13.92 | 9.90 | 30.06 | 49.03 | -13.45 | 39.76 | -9.33 | 13.22 | -28.0 | 10.79 | -28.5 | 0.27 | -20.59 | 59.14 | -8.2 | 23.26 | 7.49 | 100.53 | -0.54 | -0.53 | 0 | 0.04 | -39.27 | 19.53 | 8.92 |
| 2020 (7) | 66.97 | -2.96 | 57.26 | -4.71 | 7.61 | 23.68 | 56.65 | -5.93 | 43.85 | -5.76 | 18.36 | -24.01 | 15.09 | -23.52 | 0.34 | -19.05 | 64.42 | -3.11 | 21.64 | -0.28 | 101.07 | 1.29 | -1.07 | 0 | 0.07 | -0.51 | 17.93 | 4.73 |
| 2019 (6) | 69.01 | 0.33 | 60.09 | 1.37 | 6.16 | 8.49 | 60.22 | -3.57 | 46.53 | -4.63 | 24.16 | -0.86 | 19.73 | 0.61 | 0.42 | 5.0 | 66.49 | -2.58 | 21.70 | -6.79 | 99.78 | 5.12 | 0.22 | -95.69 | 0.07 | 8.59 | 17.12 | -8.3 |
| 2018 (5) | 68.78 | -0.84 | 59.28 | -1.87 | 5.67 | 32.78 | 62.45 | 3.81 | 48.79 | -0.2 | 24.37 | -20.62 | 19.61 | -19.6 | 0.40 | -20.0 | 68.25 | 5.83 | 23.28 | -8.49 | 94.92 | -5.47 | 5.08 | 0 | 0.06 | 0 | 18.67 | 11.0 |
| 2017 (4) | 69.36 | 3.35 | 60.41 | 4.64 | 4.27 | -0.29 | 60.16 | 2.96 | 48.89 | 3.98 | 30.70 | -5.31 | 24.39 | -2.87 | 0.50 | -5.66 | 64.49 | 2.74 | 25.44 | -3.38 | 100.42 | 1.63 | -0.42 | 0 | 0.00 | 0 | 16.82 | 3.44 |
| 2016 (3) | 67.11 | 16.96 | 57.73 | 16.63 | 4.29 | 31.55 | 58.43 | 11.96 | 47.02 | 8.74 | 32.42 | -26.47 | 25.11 | -24.62 | 0.53 | -31.17 | 62.77 | 13.12 | 26.33 | -18.98 | 98.81 | 4.18 | 1.19 | -76.89 | 0.00 | 0 | 16.26 | 12.37 |
| 2015 (2) | 57.38 | 7.21 | 49.50 | 7.63 | 3.26 | -9.39 | 52.19 | 4.11 | 43.24 | 1.91 | 44.09 | -13.07 | 33.31 | -14.61 | 0.77 | -16.3 | 55.49 | 3.22 | 32.50 | 1.06 | 94.84 | 3.37 | 5.16 | -37.49 | 0.00 | 0 | 14.47 | -0.34 |
| 2014 (1) | 53.52 | 0 | 45.99 | 0 | 3.60 | -31.22 | 50.13 | 0 | 42.43 | 0 | 50.72 | 0 | 39.01 | 0 | 0.92 | 16.46 | 53.76 | 13.9 | 32.16 | 19.87 | 91.74 | -2.13 | 8.26 | 31.89 | 0.00 | 0 | 14.52 | -9.48 |
