- 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) | 27.86 | -7.01 | -10.13 | 6.49 | -34.64 | -12.3 | 10.08 | -27.01 | 32.98 | 4.87 | -60.6 | -9.48 | 0.60 | -61.04 | 15.38 | 0.38 | -58.7 | 2.7 | 0.07 | 0.0 | 16.67 | 16.09 | -17.91 | 7.91 | 83.35 | 8.13 | 31.51 | 65.71 | -8.0 | -31.0 | 37.14 | 30.0 | 680.0 | 18.73 | 3.94 | -3.4 |
| 23Q3 (19) | 29.96 | 11.54 | 18.7 | 9.93 | 72.1 | 1298.59 | 13.81 | 88.4 | 98.42 | 12.36 | 122.3 | 96.5 | 1.54 | 92.5 | 62.11 | 0.92 | 80.39 | 43.75 | 0.07 | -12.5 | -22.22 | 19.60 | 56.42 | 57.56 | 77.08 | 1.23 | 29.16 | 71.43 | -6.83 | 614.29 | 28.57 | 42.86 | -68.25 | 18.02 | 25.93 | 17.62 |
| 23Q2 (18) | 26.86 | 1.36 | -3.21 | 5.77 | -3.99 | 5.68 | 7.33 | -16.13 | -27.93 | 5.56 | -9.89 | -28.53 | 0.80 | -12.09 | -27.27 | 0.51 | -13.56 | -31.08 | 0.08 | -11.11 | -11.11 | 12.53 | -9.27 | -20.9 | 76.14 | 9.98 | 21.4 | 76.67 | 13.47 | 42.88 | 20.00 | -32.73 | -56.84 | 14.31 | -2.39 | -5.61 |
| 23Q1 (17) | 26.50 | -14.52 | 17.73 | 6.01 | -18.78 | 145.31 | 8.74 | 15.3 | 91.25 | 6.17 | 14.68 | 25.41 | 0.91 | 75.0 | 40.0 | 0.59 | 59.46 | 25.53 | 0.09 | 50.0 | 0.0 | 13.81 | -7.38 | 42.52 | 69.23 | 9.23 | 23.67 | 67.57 | -29.05 | 27.63 | 29.73 | 524.32 | -36.82 | 14.66 | -24.39 | -2.72 |
| 22Q4 (16) | 31.00 | 22.82 | 35.55 | 7.40 | 942.25 | 126.99 | 7.58 | 8.91 | 9.7 | 5.38 | -14.47 | 1245.0 | 0.52 | -45.26 | 940.0 | 0.37 | -42.19 | 362.5 | 0.06 | -33.33 | -33.33 | 14.91 | 19.86 | 24.04 | 63.38 | 6.2 | 17.81 | 95.24 | 852.38 | 98.41 | 4.76 | -94.71 | -90.84 | 19.39 | 26.57 | 19.99 |
| 22Q3 (15) | 25.24 | -9.05 | 13.74 | 0.71 | -87.0 | -83.37 | 6.96 | -31.56 | 9.95 | 6.29 | -19.15 | 26.31 | 0.95 | -13.64 | 23.38 | 0.64 | -13.51 | 16.36 | 0.09 | 0.0 | -10.0 | 12.44 | -21.46 | 17.8 | 59.68 | -4.85 | 16.68 | 10.00 | -81.36 | -85.0 | 90.00 | 94.21 | 170.0 | 15.32 | 1.06 | 10.45 |
| 22Q2 (14) | 27.75 | 23.28 | 19.77 | 5.46 | 122.86 | 180.18 | 10.17 | 122.54 | 395.64 | 7.78 | 58.13 | -84.06 | 1.10 | 69.23 | 200.92 | 0.74 | 57.45 | 204.23 | 0.09 | 0.0 | 0.0 | 15.84 | 63.47 | 1000.0 | 62.72 | 12.04 | 22.21 | 53.66 | 1.36 | -73.17 | 46.34 | -1.52 | 146.34 | 15.16 | 0.6 | -25.87 |
| 22Q1 (13) | 22.51 | -1.57 | 4.12 | 2.45 | -24.85 | 9.37 | 4.57 | -33.86 | -3.99 | 4.92 | 1130.0 | 11.56 | 0.65 | 1200.0 | -1.52 | 0.47 | 487.5 | -9.62 | 0.09 | 0.0 | -18.18 | 9.69 | -19.38 | -1.62 | 55.98 | 4.05 | 43.39 | 52.94 | 10.29 | 11.76 | 47.06 | -9.5 | -10.59 | 15.07 | -6.75 | -6.57 |
| 21Q4 (12) | 22.87 | 3.06 | 64.65 | 3.26 | -23.65 | 106.33 | 6.91 | 9.16 | 180.35 | 0.40 | -91.97 | 103.13 | 0.05 | -93.51 | 103.25 | 0.08 | -85.45 | 107.77 | 0.09 | -10.0 | 28.57 | 12.02 | 13.83 | 1154.39 | 53.80 | 5.18 | 28.4 | 48.00 | -28.0 | 376.0 | 52.00 | 56.0 | -55.7 | 16.16 | 16.51 | -39.38 |
| 21Q3 (11) | 22.19 | -4.23 | -20.83 | 4.27 | 162.7 | -43.37 | 6.33 | 284.01 | -59.34 | 4.98 | -89.8 | -58.53 | 0.77 | 170.64 | -56.25 | 0.55 | 177.46 | -56.69 | 0.10 | 11.11 | 0.0 | 10.56 | 633.33 | -49.06 | 51.15 | -0.33 | 19.71 | 66.67 | -66.67 | 35.63 | 33.33 | 133.33 | -36.56 | 13.87 | -32.18 | -9.94 |
| 21Q2 (10) | 23.17 | 7.17 | 2.12 | -6.81 | -404.02 | -282.57 | -3.44 | -172.27 | -147.84 | 48.81 | 1006.8 | 666.25 | -1.09 | -265.15 | -221.11 | -0.71 | -236.54 | -204.41 | 0.09 | -18.18 | -10.0 | 1.44 | -85.38 | -88.57 | 51.32 | 31.45 | 11.25 | 200.00 | 322.22 | 271.43 | -100.00 | -290.0 | -300.0 | 20.45 | 26.78 | 0 |
| 21Q1 (9) | 21.62 | 55.65 | -20.75 | 2.24 | 41.77 | 351.69 | 4.76 | 155.35 | 17.24 | 4.41 | 134.56 | 48.48 | 0.66 | 142.86 | 112.9 | 0.52 | 150.49 | 85.71 | 0.11 | 57.14 | 57.14 | 9.85 | 964.04 | -16.24 | 39.04 | -6.83 | -5.88 | 47.37 | 372.37 | 360.53 | 52.63 | -55.17 | -55.47 | 16.13 | -39.5 | 0 |
| 20Q4 (8) | 13.89 | -50.45 | -37.23 | 1.58 | -79.05 | 121.7 | -8.60 | -155.23 | -69.63 | -12.76 | -206.24 | -100.0 | -1.54 | -187.5 | -120.0 | -1.03 | -181.1 | -151.22 | 0.07 | -30.0 | -12.5 | -1.14 | -105.5 | -155.61 | 41.90 | -1.94 | -1.53 | -17.39 | -135.38 | -112.42 | 117.39 | 123.42 | 393.48 | 26.66 | 73.12 | 0 |
| 20Q3 (7) | 28.03 | 23.53 | 26.43 | 7.54 | 102.14 | 100.0 | 15.57 | 116.55 | 85.8 | 12.01 | 88.54 | 65.43 | 1.76 | 95.56 | 74.26 | 1.27 | 86.76 | 67.11 | 0.10 | 0.0 | 11.11 | 20.73 | 64.52 | 47.13 | 42.73 | -7.37 | -3.78 | 49.15 | -8.72 | 8.84 | 52.54 | 5.08 | -4.19 | 15.40 | 0 | 10.87 |
| 20Q2 (6) | 22.69 | -16.83 | -20.08 | 3.73 | 519.1 | 9.71 | 7.19 | 77.09 | -29.92 | 6.37 | 114.48 | -27.7 | 0.90 | 190.32 | -17.43 | 0.68 | 142.86 | -18.07 | 0.10 | 42.86 | 11.11 | 12.60 | 7.14 | -22.79 | 46.13 | 11.21 | -5.57 | 53.85 | 396.15 | 71.33 | 50.00 | -57.69 | -23.91 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 27.28 | 23.27 | 16.53 | -0.89 | 87.77 | -162.24 | 4.06 | 180.08 | 3.31 | 2.97 | 146.55 | -2.94 | 0.31 | 144.29 | -22.5 | 0.28 | 168.29 | -22.22 | 0.07 | -12.5 | -22.22 | 11.76 | 473.66 | 21.74 | 41.48 | -2.51 | -3.47 | -18.18 | -112.99 | -150.91 | 118.18 | 395.45 | 83.84 | 0.00 | 0 | -100.0 |
| 19Q4 (4) | 22.13 | -0.18 | 0.0 | -7.28 | -293.1 | 0.0 | -5.07 | -160.5 | 0.0 | -6.38 | -187.88 | 0.0 | -0.70 | -169.31 | 0.0 | -0.41 | -153.95 | 0.0 | 0.08 | -11.11 | 0.0 | 2.05 | -85.45 | 0.0 | 42.55 | -4.19 | 0.0 | 140.00 | 210.0 | 0.0 | -40.00 | -172.94 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 22.17 | -21.91 | 0.0 | 3.77 | 10.88 | 0.0 | 8.38 | -18.32 | 0.0 | 7.26 | -17.59 | 0.0 | 1.01 | -7.34 | 0.0 | 0.76 | -8.43 | 0.0 | 0.09 | 0.0 | 0.0 | 14.09 | -13.66 | 0.0 | 44.41 | -9.09 | 0.0 | 45.16 | 43.7 | 0.0 | 54.84 | -16.55 | 0.0 | 13.89 | -23.81 | 0.0 |
| 19Q2 (2) | 28.39 | 21.27 | 0.0 | 3.40 | 137.76 | 0.0 | 10.26 | 161.07 | 0.0 | 8.81 | 187.91 | 0.0 | 1.09 | 172.5 | 0.0 | 0.83 | 130.56 | 0.0 | 0.09 | 0.0 | 0.0 | 16.32 | 68.94 | 0.0 | 48.85 | 13.68 | 0.0 | 31.43 | -12.0 | 0.0 | 65.71 | 2.22 | 0.0 | 18.23 | 36.96 | 0.0 |
| 19Q1 (1) | 23.41 | 0.0 | 0.0 | 1.43 | 0.0 | 0.0 | 3.93 | 0.0 | 0.0 | 3.06 | 0.0 | 0.0 | 0.40 | 0.0 | 0.0 | 0.36 | 0.0 | 0.0 | 0.09 | 0.0 | 0.0 | 9.66 | 0.0 | 0.0 | 42.97 | 0.0 | 0.0 | 35.71 | 0.0 | 0.0 | 64.29 | 0.0 | 0.0 | 13.31 | 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) | 27.70 | 5.36 | 6.96 | 88.62 | 4.06 | -8.58 | 9.84 | 34.24 | 7.14 | 15.72 | 3.86 | 19.14 | 2.41 | 7.59 | 0.31 | -6.06 | 15.26 | 16.31 | 83.35 | 31.51 | 70.67 | 40.05 | 29.33 | -40.79 | 4.07 | -11.98 | 16.27 | 1.88 |
| 2022 (9) | 26.29 | 17.21 | 3.69 | 269.0 | 4.44 | 19.69 | 7.33 | 89.9 | 6.17 | -54.8 | 3.24 | 710.0 | 2.24 | 409.09 | 0.33 | -13.16 | 13.12 | 51.5 | 63.38 | 17.81 | 50.46 | 98.47 | 49.54 | -33.57 | 4.63 | -7.84 | 15.97 | -3.15 |
| 2021 (8) | 22.43 | -4.35 | 1.00 | -70.93 | 3.71 | -23.33 | 3.86 | -33.22 | 13.65 | 301.47 | 0.40 | -71.43 | 0.44 | -63.64 | 0.38 | 11.76 | 8.66 | -28.43 | 53.80 | 28.4 | 25.42 | -57.24 | 74.58 | 83.95 | 5.02 | -17.56 | 16.49 | -8.29 |
| 2020 (7) | 23.45 | -2.41 | 3.44 | 413.43 | 4.84 | 12.65 | 5.78 | 20.92 | 3.40 | -5.56 | 1.40 | -23.5 | 1.21 | -23.42 | 0.34 | -2.86 | 12.10 | 11.11 | 41.90 | -1.53 | 59.46 | 322.82 | 40.54 | -52.83 | 6.09 | -4.36 | 17.98 | 10.71 |
| 2019 (6) | 24.03 | 9.93 | 0.67 | -52.48 | 4.30 | 78.07 | 4.78 | -54.21 | 3.60 | -62.3 | 1.83 | -68.23 | 1.58 | -62.29 | 0.35 | -10.26 | 10.89 | -27.01 | 42.55 | -13.0 | 14.06 | 4.83 | 85.94 | -0.75 | 6.37 | 6.04 | 16.24 | 21.28 |
| 2018 (5) | 21.86 | 34.86 | 1.41 | 0 | 2.41 | 20.59 | 10.44 | 288.1 | 9.55 | 651.97 | 5.76 | 372.13 | 4.19 | 229.92 | 0.39 | -32.76 | 14.92 | 141.03 | 48.91 | -15.28 | 13.41 | 0 | 86.59 | -78.04 | 6.01 | -1.32 | 13.39 | 33.63 |
| 2017 (4) | 16.21 | 14.15 | -7.93 | 0 | 2.00 | -32.64 | 2.69 | -87.85 | 1.27 | -94.31 | 1.22 | -96.01 | 1.27 | -91.91 | 0.58 | -14.71 | 6.19 | -76.62 | 57.73 | -24.61 | -294.29 | 0 | 394.29 | 133.74 | 6.09 | 0 | 10.02 | -26.65 |
| 2016 (3) | 14.20 | 9.06 | -15.20 | 0 | 2.97 | 27.07 | 22.14 | 0 | 22.31 | 0 | 30.54 | 0 | 15.70 | 0 | 0.68 | -23.6 | 26.47 | 0 | 76.58 | -43.31 | -68.68 | 0 | 168.68 | 0 | 0.00 | 0 | 13.66 | 6.8 |
| 2015 (2) | 13.02 | 1.64 | -8.51 | 0 | 2.34 | 7.02 | -8.36 | 0 | -7.74 | 0 | -14.49 | 0 | -6.34 | 0 | 0.89 | 3.49 | -5.05 | 0 | 135.09 | 41.81 | 101.90 | 3.54 | -1.90 | 0 | 0.00 | 0 | 12.79 | 13.49 |
| 2014 (1) | 12.81 | 0 | -5.44 | 0 | 2.18 | -27.44 | -5.53 | 0 | -5.75 | 0 | -9.71 | 0 | -4.71 | 0 | 0.86 | 26.47 | -2.57 | 0 | 95.26 | -0.93 | 98.41 | 0.62 | 1.59 | -27.66 | 0.00 | 0 | 11.27 | -11.4 |
