- 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) | 7.98 | -1.97 | 15.65 | 3.62 | -1.36 | 31.64 | 3.87 | -26.0 | 35.31 | 2.78 | -32.03 | 20.87 | 2.37 | -41.19 | 15.61 | 1.15 | -35.75 | 17.35 | 0.34 | -12.82 | 0.0 | 5.26 | -18.32 | 21.76 | 145.70 | -6.61 | -11.8 | 93.54 | 33.16 | -2.55 | 6.61 | -77.79 | 73.97 | 2.29 | -7.66 | 1.33 |
| 23Q3 (19) | 8.14 | -12.85 | 8.39 | 3.67 | -20.73 | 1.94 | 5.23 | -12.83 | 1.36 | 4.09 | -10.11 | -0.24 | 4.03 | 0.5 | -6.28 | 1.79 | 1.13 | 1.7 | 0.39 | 11.43 | 0.0 | 6.44 | -12.14 | 2.06 | 156.02 | 4.53 | -5.14 | 70.25 | -9.02 | 0.84 | 29.75 | 30.57 | -1.93 | 2.48 | -12.37 | 10.71 |
| 23Q2 (18) | 9.34 | 22.73 | 19.9 | 4.63 | 54.33 | 21.84 | 6.00 | 92.93 | 10.91 | 4.55 | 102.22 | 17.88 | 4.01 | 126.55 | 4.16 | 1.77 | 101.14 | 12.74 | 0.35 | 16.67 | -7.89 | 7.33 | 56.29 | 15.43 | 149.26 | -1.43 | -14.86 | 77.22 | -19.92 | 9.9 | 22.78 | 499.07 | -23.39 | 2.83 | 3.28 | 10.55 |
| 23Q1 (17) | 7.61 | 10.29 | -4.76 | 3.00 | 9.09 | -27.01 | 3.11 | 8.74 | -43.86 | 2.25 | -2.17 | -48.39 | 1.77 | -13.66 | -61.85 | 0.88 | -10.2 | -53.93 | 0.30 | -11.76 | -28.57 | 4.69 | 8.56 | -26.37 | 151.43 | -8.33 | 0.17 | 96.42 | 0.45 | 29.96 | 3.80 | 0.15 | -85.26 | 2.74 | 21.24 | 14.64 |
| 22Q4 (16) | 6.90 | -8.12 | -12.99 | 2.75 | -23.61 | -34.83 | 2.86 | -44.57 | -46.44 | 2.30 | -43.9 | -47.0 | 2.05 | -52.33 | -57.02 | 0.98 | -44.32 | -48.42 | 0.34 | -12.82 | -19.05 | 4.32 | -31.54 | -29.06 | 165.19 | 0.43 | 3.89 | 95.99 | 37.79 | 21.7 | 3.80 | -87.48 | -81.94 | 2.26 | 0.89 | 29.89 |
| 22Q3 (15) | 7.51 | -3.59 | -10.38 | 3.60 | -5.26 | -16.08 | 5.16 | -4.62 | -18.23 | 4.10 | 6.22 | -15.29 | 4.30 | 11.69 | -22.52 | 1.76 | 12.1 | -21.78 | 0.39 | 2.63 | -13.33 | 6.31 | -0.63 | -10.37 | 164.48 | -6.18 | 0.53 | 69.67 | -0.85 | 2.51 | 30.33 | 2.0 | -5.32 | 2.24 | -12.5 | -9.31 |
| 22Q2 (14) | 7.79 | -2.5 | -12.18 | 3.80 | -7.54 | -15.37 | 5.41 | -2.35 | -5.58 | 3.86 | -11.47 | -10.02 | 3.85 | -17.03 | -13.48 | 1.57 | -17.8 | -16.93 | 0.38 | -9.52 | -9.52 | 6.35 | -0.31 | -1.85 | 175.32 | 15.98 | 19.27 | 70.26 | -5.3 | -10.46 | 29.74 | 15.22 | 38.11 | 2.56 | 7.11 | -5.88 |
| 22Q1 (13) | 7.99 | 0.76 | -9.51 | 4.11 | -2.61 | -7.85 | 5.54 | 3.75 | 3.17 | 4.36 | 0.46 | 6.08 | 4.64 | -2.73 | 7.16 | 1.91 | 0.53 | 5.52 | 0.42 | 0.0 | 0.0 | 6.37 | 4.6 | 3.58 | 151.17 | -4.92 | 3.98 | 74.19 | -5.94 | -10.69 | 25.81 | 22.75 | 52.42 | 2.39 | 37.36 | -11.15 |
| 21Q4 (12) | 7.93 | -5.37 | -5.03 | 4.22 | -1.63 | 32.7 | 5.34 | -15.37 | 36.57 | 4.34 | -10.33 | 41.83 | 4.77 | -14.05 | 43.24 | 1.90 | -15.56 | 37.68 | 0.42 | -6.67 | 0.0 | 6.09 | -13.49 | 27.41 | 159.00 | -2.82 | -0.59 | 78.87 | 16.05 | -3.18 | 21.03 | -34.37 | 13.43 | 1.74 | -29.55 | -40.82 |
| 21Q3 (11) | 8.38 | -5.52 | 5.14 | 4.29 | -4.45 | 8.88 | 6.31 | 10.12 | 12.68 | 4.84 | 12.82 | 8.76 | 5.55 | 24.72 | 4.72 | 2.25 | 19.05 | 6.64 | 0.45 | 7.14 | 0.0 | 7.04 | 8.81 | 11.04 | 163.61 | 11.31 | 4.89 | 67.96 | -13.39 | -3.4 | 32.04 | 48.79 | 8.07 | 2.47 | -9.19 | -0.8 |
| 21Q2 (10) | 8.87 | 0.45 | 10.05 | 4.49 | 0.67 | 22.01 | 5.73 | 6.7 | 33.88 | 4.29 | 4.38 | 32.41 | 4.45 | 2.77 | 22.93 | 1.89 | 4.42 | 26.0 | 0.42 | 0.0 | 0.0 | 6.47 | 5.2 | 25.39 | 146.99 | 1.11 | -14.32 | 78.47 | -5.54 | -8.89 | 21.53 | 27.16 | 55.13 | 2.72 | 1.12 | 0 |
| 21Q1 (9) | 8.83 | 5.75 | 8.48 | 4.46 | 40.25 | 29.65 | 5.37 | 37.34 | 37.69 | 4.11 | 34.31 | 38.85 | 4.33 | 30.03 | 58.03 | 1.81 | 31.16 | 49.59 | 0.42 | 0.0 | 16.67 | 6.15 | 28.66 | 23.25 | 145.38 | -9.11 | -6.99 | 83.07 | 1.97 | -5.99 | 16.93 | -8.65 | 42.9 | 2.69 | -8.5 | 0 |
| 20Q4 (8) | 8.35 | 4.77 | 13.45 | 3.18 | -19.29 | 24.71 | 3.91 | -30.18 | 29.9 | 3.06 | -31.24 | 29.66 | 3.33 | -37.17 | 32.14 | 1.38 | -34.6 | 23.21 | 0.42 | -6.67 | 2.44 | 4.78 | -24.61 | 17.44 | 159.95 | 2.55 | 0.58 | 81.46 | 15.79 | -3.7 | 18.54 | -37.47 | 20.35 | 2.94 | 18.07 | 16.21 |
| 20Q3 (7) | 7.97 | -1.12 | 0.63 | 3.94 | 7.07 | 23.51 | 5.60 | 30.84 | 31.46 | 4.45 | 37.35 | 29.74 | 5.30 | 46.41 | 36.95 | 2.11 | 40.67 | 31.06 | 0.45 | 7.14 | 7.14 | 6.34 | 22.87 | 22.16 | 155.98 | -9.08 | -4.7 | 70.35 | -18.31 | -6.19 | 29.65 | 113.59 | 18.58 | 2.49 | 0 | -6.04 |
| 20Q2 (6) | 8.06 | -0.98 | 4.68 | 3.68 | 6.98 | 20.66 | 4.28 | 9.74 | 19.22 | 3.24 | 9.46 | 18.68 | 3.62 | 32.12 | 21.48 | 1.50 | 23.97 | 13.64 | 0.42 | 16.67 | -2.33 | 5.16 | 3.41 | 16.74 | 171.55 | 9.75 | 1.16 | 86.12 | -2.53 | 1.18 | 13.88 | 17.13 | -6.73 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 8.14 | 10.6 | 6.96 | 3.44 | 34.9 | 28.36 | 3.90 | 29.57 | 11.75 | 2.96 | 25.42 | 3.5 | 2.74 | 8.73 | 0.74 | 1.21 | 8.04 | -5.47 | 0.36 | -12.2 | -5.26 | 4.99 | 22.6 | 11.38 | 156.31 | -1.71 | 9.07 | 88.36 | 4.45 | 15.17 | 11.85 | -23.06 | -48.57 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 7.36 | -7.07 | 0.0 | 2.55 | -20.06 | 0.0 | 3.01 | -29.34 | 0.0 | 2.36 | -31.2 | 0.0 | 2.52 | -34.88 | 0.0 | 1.12 | -30.43 | 0.0 | 0.41 | -2.38 | 0.0 | 4.07 | -21.58 | 0.0 | 159.03 | -2.83 | 0.0 | 84.60 | 12.8 | 0.0 | 15.40 | -38.39 | 0.0 | 2.53 | -4.53 | 0.0 |
| 19Q3 (3) | 7.92 | 2.86 | 0.0 | 3.19 | 4.59 | 0.0 | 4.26 | 18.66 | 0.0 | 3.43 | 25.64 | 0.0 | 3.87 | 29.87 | 0.0 | 1.61 | 21.97 | 0.0 | 0.42 | -2.33 | 0.0 | 5.19 | 17.42 | 0.0 | 163.67 | -3.49 | 0.0 | 75.00 | -11.89 | 0.0 | 25.00 | 68.0 | 0.0 | 2.65 | -1.49 | 0.0 |
| 19Q2 (2) | 7.70 | 1.18 | 0.0 | 3.05 | 13.81 | 0.0 | 3.59 | 2.87 | 0.0 | 2.73 | -4.55 | 0.0 | 2.98 | 9.56 | 0.0 | 1.32 | 3.13 | 0.0 | 0.43 | 13.16 | 0.0 | 4.42 | -1.34 | 0.0 | 169.58 | 18.33 | 0.0 | 85.12 | 10.94 | 0.0 | 14.88 | -35.41 | 0.0 | 2.69 | -7.24 | 0.0 |
| 19Q1 (1) | 7.61 | 0.0 | 0.0 | 2.68 | 0.0 | 0.0 | 3.49 | 0.0 | 0.0 | 2.86 | 0.0 | 0.0 | 2.72 | 0.0 | 0.0 | 1.28 | 0.0 | 0.0 | 0.38 | 0.0 | 0.0 | 4.48 | 0.0 | 0.0 | 143.31 | 0.0 | 0.0 | 76.72 | 0.0 | 0.0 | 23.04 | 0.0 | 0.0 | 2.90 | 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) | 8.28 | 9.38 | 3.75 | 4.46 | 0.61 | 10.16 | 4.61 | -4.16 | 3.47 | -6.47 | 11.89 | -20.94 | 5.39 | -14.58 | 1.34 | -13.55 | 5.97 | 1.36 | 145.70 | -11.8 | 81.26 | 8.72 | 18.74 | -25.71 | 0.68 | -17.78 | 2.57 | 8.9 |
| 2022 (9) | 7.57 | -10.73 | 3.59 | -17.66 | 0.55 | 21.82 | 4.81 | -15.61 | 3.71 | -15.87 | 15.04 | -21.09 | 6.31 | -17.73 | 1.55 | -7.19 | 5.89 | -8.68 | 165.19 | 3.89 | 74.75 | -2.32 | 25.23 | 7.43 | 0.82 | 17.82 | 2.36 | -1.26 |
| 2021 (8) | 8.48 | 4.31 | 4.36 | 22.13 | 0.46 | -3.26 | 5.70 | 27.8 | 4.41 | 27.46 | 19.06 | 31.27 | 7.67 | 26.99 | 1.67 | 3.73 | 6.45 | 20.56 | 159.00 | -0.59 | 76.52 | -4.32 | 23.48 | 17.23 | 0.70 | -14.74 | 2.39 | -12.45 |
| 2020 (7) | 8.13 | 6.27 | 3.57 | 23.96 | 0.47 | 19.67 | 4.46 | 23.89 | 3.46 | 21.4 | 14.52 | 19.6 | 6.04 | 12.48 | 1.61 | -2.42 | 5.35 | 17.58 | 159.95 | 0.58 | 79.97 | -0.11 | 20.03 | 0.46 | 0.82 | -17.94 | 2.73 | 1.49 |
| 2019 (6) | 7.65 | -3.77 | 2.88 | -12.73 | 0.39 | 84.19 | 3.60 | -6.25 | 2.85 | 1.42 | 12.14 | -1.14 | 5.37 | -5.46 | 1.65 | -7.82 | 4.55 | 0.44 | 159.03 | 1.58 | 80.06 | -6.97 | 19.94 | 43.03 | 1.00 | 168.93 | 2.69 | 3.07 |
| 2018 (5) | 7.95 | -12.92 | 3.30 | -2.94 | 0.21 | -15.95 | 3.84 | -16.34 | 2.81 | -21.51 | 12.28 | -9.44 | 5.68 | -8.83 | 1.79 | 9.15 | 4.53 | -11.18 | 156.55 | 19.67 | 86.06 | 16.12 | 13.94 | -46.15 | 0.37 | 55.86 | 2.61 | -14.43 |
| 2017 (4) | 9.13 | -3.79 | 3.40 | -6.59 | 0.25 | -0.56 | 4.59 | 15.62 | 3.58 | 23.45 | 13.56 | 27.56 | 6.23 | 30.33 | 1.64 | 7.19 | 5.10 | 12.83 | 130.82 | 0.7 | 74.11 | -19.04 | 25.89 | 208.31 | 0.24 | 0 | 3.05 | 4.1 |
| 2016 (3) | 9.49 | 3.83 | 3.64 | 8.66 | 0.26 | 27.85 | 3.97 | -3.87 | 2.90 | -5.54 | 10.63 | -8.28 | 4.78 | -3.82 | 1.53 | 1.32 | 4.52 | -2.59 | 129.91 | -12.96 | 91.54 | 12.89 | 8.40 | -55.6 | 0.00 | 0 | 2.93 | 3.53 |
| 2015 (2) | 9.14 | 2.01 | 3.35 | 5.35 | 0.20 | 2.2 | 4.13 | -6.77 | 3.07 | -10.5 | 11.59 | -14.78 | 4.97 | -15.62 | 1.51 | -6.21 | 4.64 | -6.26 | 149.25 | -1.45 | 81.09 | 12.97 | 18.91 | -32.99 | 0.00 | 0 | 2.83 | -7.21 |
| 2014 (1) | 8.96 | 0 | 3.18 | 0 | 0.20 | -9.13 | 4.43 | 0 | 3.43 | 0 | 13.60 | 0 | 5.89 | 0 | 1.61 | 1.9 | 4.95 | -5.53 | 151.45 | 8.55 | 71.78 | 15.45 | 28.22 | -25.39 | 0.00 | 0 | 3.05 | -4.98 |
