- 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) | 7.44 | 3.77 | 0.27 | 2.61 | -6.79 | -15.26 | 0.75 | -71.91 | -60.11 | 0.37 | -82.71 | -74.48 | 0.53 | -84.68 | -76.65 | 0.59 | -57.25 | -41.58 | 0.38 | -11.63 | 0.0 | 2.40 | -42.03 | -33.15 | 265.45 | -6.18 | -9.59 | 348.39 | 231.99 | 112.18 | -248.39 | -4929.84 | -286.91 | 2.87 | 10.38 | -1.37 |
| 23Q3 (19) | 7.17 | 6.86 | -2.71 | 2.80 | 8.95 | -8.79 | 2.67 | 36.92 | 27.14 | 2.14 | 45.58 | 29.7 | 3.46 | 57.99 | 29.59 | 1.38 | 39.39 | 50.0 | 0.43 | 10.26 | 19.44 | 4.14 | 17.61 | 19.65 | 282.94 | 8.11 | -14.22 | 104.94 | -20.39 | -28.33 | -4.94 | 84.48 | 89.36 | 2.60 | -8.77 | 4.42 |
| 23Q2 (18) | 6.71 | -17.36 | -6.55 | 2.57 | -24.41 | -25.72 | 1.95 | -2.5 | -20.73 | 1.47 | -5.77 | -25.76 | 2.19 | 2.34 | -47.98 | 0.99 | -1.98 | -7.48 | 0.39 | 14.71 | -13.33 | 3.52 | -11.56 | 11.39 | 261.72 | -15.23 | -30.06 | 131.82 | -22.71 | -6.2 | -31.82 | 54.46 | 21.5 | 2.85 | -10.94 | 16.33 |
| 23Q1 (17) | 8.12 | 9.43 | 43.97 | 3.40 | 10.39 | 30.77 | 2.00 | 6.38 | -19.68 | 1.56 | 7.59 | -20.41 | 2.14 | -5.73 | -53.88 | 1.01 | 0.0 | -13.68 | 0.34 | -10.53 | -35.85 | 3.98 | 10.86 | 36.3 | 308.73 | 5.15 | -19.07 | 170.55 | 3.87 | 63.46 | -69.86 | -8.83 | -1512.22 | 3.20 | 9.97 | 54.59 |
| 22Q4 (16) | 7.42 | 0.68 | 26.19 | 3.08 | 0.33 | 31.06 | 1.88 | -10.48 | -20.68 | 1.45 | -12.12 | -17.61 | 2.27 | -14.98 | -35.14 | 1.01 | 9.78 | 3.06 | 0.38 | 5.56 | -22.45 | 3.59 | 3.76 | 27.3 | 293.60 | -10.99 | -5.8 | 164.20 | 12.15 | 65.55 | -64.20 | -38.33 | -7932.1 | 2.91 | 16.87 | 34.1 |
| 22Q3 (15) | 7.37 | 2.65 | 17.73 | 3.07 | -11.27 | 14.55 | 2.10 | -14.63 | -24.46 | 1.65 | -16.67 | -30.08 | 2.67 | -36.58 | -48.75 | 0.92 | -14.02 | -35.66 | 0.36 | -20.0 | -35.71 | 3.46 | 9.49 | 8.12 | 329.86 | -11.86 | 12.59 | 146.41 | 4.18 | 51.92 | -46.41 | -14.5 | -1378.35 | 2.49 | 1.63 | 5.06 |
| 22Q2 (14) | 7.18 | 27.3 | 15.81 | 3.46 | 33.08 | 29.59 | 2.46 | -1.2 | -11.19 | 1.98 | 1.02 | -16.46 | 4.21 | -9.27 | -19.96 | 1.07 | -8.55 | -25.69 | 0.45 | -15.09 | -19.64 | 3.16 | 8.22 | -1.56 | 374.23 | -1.9 | 24.55 | 140.53 | 34.69 | 46.11 | -40.53 | -835.31 | -1161.16 | 2.45 | 18.36 | 20.69 |
| 22Q1 (13) | 5.64 | -4.08 | 6.21 | 2.60 | 10.64 | 7.0 | 2.49 | 5.06 | 5.96 | 1.96 | 11.36 | 6.52 | 4.64 | 32.57 | 13.17 | 1.17 | 19.39 | 0.86 | 0.53 | 8.16 | -5.36 | 2.92 | 3.55 | 4.29 | 381.49 | 22.4 | 29.46 | 104.33 | 5.2 | 1.05 | -4.33 | -628.67 | -33.25 | 2.07 | -4.61 | 5.08 |
| 21Q4 (12) | 5.88 | -6.07 | 30.38 | 2.35 | -12.31 | 139.8 | 2.37 | -14.75 | 49.06 | 1.76 | -25.42 | 34.35 | 3.50 | -32.82 | 25.0 | 0.98 | -31.47 | 12.64 | 0.49 | -12.5 | -14.04 | 2.82 | -11.88 | 37.56 | 311.67 | 6.38 | 3.29 | 99.18 | 2.92 | 60.67 | 0.82 | -77.42 | -97.86 | 2.17 | -8.44 | 6.37 |
| 21Q3 (11) | 6.26 | 0.97 | 53.43 | 2.68 | 0.37 | 143.64 | 2.78 | 0.36 | 78.21 | 2.36 | -0.42 | 72.26 | 5.21 | -0.95 | 68.06 | 1.43 | -0.69 | 37.5 | 0.56 | 0.0 | -16.42 | 3.20 | -0.31 | 64.1 | 292.98 | -2.49 | 16.05 | 96.37 | 0.2 | 38.02 | 3.63 | -4.95 | -87.73 | 2.37 | 16.75 | 47.2 |
| 21Q2 (10) | 6.20 | 16.76 | 17.87 | 2.67 | 9.88 | 81.63 | 2.77 | 17.87 | 30.66 | 2.37 | 28.8 | 22.8 | 5.26 | 28.29 | 77.1 | 1.44 | 24.14 | 32.11 | 0.56 | 0.0 | 16.67 | 3.21 | 14.64 | 15.05 | 300.46 | 1.96 | 37.18 | 96.18 | -6.85 | 38.83 | 3.82 | 217.45 | -87.57 | 2.03 | 3.05 | 0 |
| 21Q1 (9) | 5.31 | 17.74 | -3.45 | 2.43 | 147.96 | 47.27 | 2.35 | 47.8 | 104.35 | 1.84 | 40.46 | 124.39 | 4.10 | 46.43 | 256.52 | 1.16 | 33.33 | 103.51 | 0.56 | -1.75 | 30.23 | 2.80 | 36.59 | 35.27 | 294.67 | -2.35 | 33.98 | 103.25 | 67.27 | -27.12 | -3.25 | -108.5 | 92.45 | 1.97 | -3.43 | 0 |
| 20Q4 (8) | 4.51 | 10.54 | -2.17 | 0.98 | -10.91 | 104.17 | 1.59 | 1.92 | 1887.5 | 1.31 | -4.38 | 495.45 | 2.80 | -9.68 | 700.0 | 0.87 | -16.35 | 163.64 | 0.57 | -14.93 | 18.75 | 2.05 | 5.13 | 125.27 | 301.75 | 19.52 | 35.36 | 61.73 | -11.59 | -90.65 | 38.27 | 29.36 | 106.83 | 2.04 | 26.71 | 0 |
| 20Q3 (7) | 4.08 | -22.43 | -21.54 | 1.10 | -25.17 | -32.1 | 1.56 | -26.42 | 1.96 | 1.37 | -29.02 | 13.22 | 3.10 | 4.38 | 55.0 | 1.04 | -4.59 | 20.93 | 0.67 | 39.58 | 31.37 | 1.95 | -30.11 | -18.75 | 252.46 | 15.26 | 13.09 | 69.82 | 0.78 | -33.79 | 29.59 | -3.69 | 642.41 | 1.61 | 0 | -21.84 |
| 20Q2 (6) | 5.26 | -4.36 | -12.62 | 1.47 | -10.91 | -20.97 | 2.12 | 84.35 | 72.36 | 1.93 | 135.37 | 132.53 | 2.97 | 158.26 | 147.5 | 1.09 | 91.23 | 73.02 | 0.48 | 11.63 | 9.09 | 2.79 | 34.78 | 22.91 | 219.03 | -0.41 | -3.05 | 69.28 | -51.1 | -54.01 | 30.72 | 171.35 | 160.67 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 5.50 | 19.31 | -12.0 | 1.65 | 243.75 | -8.84 | 1.15 | 1337.5 | -33.91 | 0.82 | 272.73 | -28.7 | 1.15 | 228.57 | -31.14 | 0.57 | 72.73 | -25.97 | 0.43 | -10.42 | 4.88 | 2.07 | 127.47 | -30.3 | 219.93 | -1.34 | -4.14 | 141.67 | -78.54 | 36.82 | -43.06 | 92.31 | -1116.32 | 0.00 | 0 | -100.0 |
| 19Q4 (4) | 4.61 | -11.35 | 0.0 | 0.48 | -70.37 | 0.0 | 0.08 | -94.77 | 0.0 | 0.22 | -81.82 | 0.0 | 0.35 | -82.5 | 0.0 | 0.33 | -61.63 | 0.0 | 0.48 | -5.88 | 0.0 | 0.91 | -62.08 | 0.0 | 222.92 | -0.14 | 0.0 | 660.00 | 525.86 | 0.0 | -560.00 | -10166.67 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 5.20 | -13.62 | 0.0 | 1.62 | -12.9 | 0.0 | 1.53 | 24.39 | 0.0 | 1.21 | 45.78 | 0.0 | 2.00 | 66.67 | 0.0 | 0.86 | 36.51 | 0.0 | 0.51 | 15.91 | 0.0 | 2.40 | 5.73 | 0.0 | 223.23 | -1.2 | 0.0 | 105.45 | -29.99 | 0.0 | -5.45 | 89.23 | 0.0 | 2.06 | -17.93 | 0.0 |
| 19Q2 (2) | 6.02 | -3.68 | 0.0 | 1.86 | 2.76 | 0.0 | 1.23 | -29.31 | 0.0 | 0.83 | -27.83 | 0.0 | 1.20 | -28.14 | 0.0 | 0.63 | -18.18 | 0.0 | 0.44 | 7.32 | 0.0 | 2.27 | -23.57 | 0.0 | 225.93 | -1.53 | 0.0 | 150.63 | 45.48 | 0.0 | -50.63 | -1330.38 | 0.0 | 2.51 | -3.09 | 0.0 |
| 19Q1 (1) | 6.25 | 0.0 | 0.0 | 1.81 | 0.0 | 0.0 | 1.74 | 0.0 | 0.0 | 1.15 | 0.0 | 0.0 | 1.67 | 0.0 | 0.0 | 0.77 | 0.0 | 0.0 | 0.41 | 0.0 | 0.0 | 2.97 | 0.0 | 0.0 | 229.44 | 0.0 | 0.0 | 103.54 | 0.0 | 0.0 | -3.54 | 0.0 | 0.0 | 2.59 | 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) | 7.34 | 7.78 | 2.83 | -6.91 | 0.19 | 19.09 | 1.86 | -18.06 | 1.40 | -21.79 | 8.08 | -38.88 | 3.89 | -12.98 | 1.52 | -17.39 | 3.51 | 8.33 | 265.45 | -9.59 | 152.40 | 13.76 | -52.40 | 0 | 0.00 | 0 | 2.86 | 17.21 |
| 2022 (9) | 6.81 | 15.23 | 3.04 | 20.16 | 0.16 | 5.05 | 2.27 | -11.67 | 1.79 | -14.35 | 13.22 | -23.98 | 4.47 | -5.5 | 1.84 | -10.24 | 3.24 | 7.64 | 293.60 | -5.8 | 133.96 | 36.1 | -33.96 | 0 | 0.00 | 0 | 2.44 | 14.02 |
| 2021 (8) | 5.91 | 25.48 | 2.53 | 104.03 | 0.15 | -21.79 | 2.57 | 59.63 | 2.09 | 52.55 | 17.39 | 69.66 | 4.73 | 39.12 | 2.05 | 0.0 | 3.01 | 38.07 | 311.67 | 3.29 | 98.43 | 27.93 | 1.57 | -93.18 | 0.00 | 0 | 2.14 | 1.42 |
| 2020 (7) | 4.71 | -14.36 | 1.24 | -13.29 | 0.20 | -22.67 | 1.61 | 41.23 | 1.37 | 61.18 | 10.25 | 94.87 | 3.40 | 36.55 | 2.05 | 17.82 | 2.18 | 2.35 | 301.75 | 35.36 | 76.94 | -38.81 | 23.06 | 0 | 0.00 | 0 | 2.11 | -12.08 |
| 2019 (6) | 5.50 | -5.66 | 1.43 | -35.87 | 0.26 | 183.74 | 1.14 | -34.48 | 0.85 | -35.61 | 5.26 | -40.97 | 2.49 | -31.22 | 1.74 | -11.22 | 2.13 | -14.8 | 222.92 | -21.17 | 125.73 | -2.35 | -25.41 | 0 | 0.00 | 0 | 2.40 | 12.15 |
| 2018 (5) | 5.83 | 8.77 | 2.23 | 25.28 | 0.09 | -11.27 | 1.74 | -6.95 | 1.32 | -15.92 | 8.91 | -1.33 | 3.62 | -5.24 | 1.96 | -1.51 | 2.50 | 2.88 | 282.80 | 33.69 | 128.76 | 35.85 | -28.76 | 0 | 0.00 | 0 | 2.14 | -3.6 |
| 2017 (4) | 5.36 | -10.37 | 1.78 | 15.58 | 0.10 | -16.26 | 1.87 | 23.84 | 1.57 | 19.85 | 9.03 | 51.51 | 3.82 | 41.48 | 1.99 | 15.03 | 2.43 | 23.98 | 211.53 | 26.54 | 94.78 | -7.7 | 5.22 | 0 | 0.00 | 0 | 2.22 | -18.08 |
| 2016 (3) | 5.98 | -8.14 | 1.54 | -21.83 | 0.12 | -1.14 | 1.51 | -15.64 | 1.31 | -8.39 | 5.96 | -11.31 | 2.70 | -8.16 | 1.73 | -1.7 | 1.96 | -12.11 | 167.17 | 6.93 | 102.69 | -6.99 | -2.39 | 0 | 0.00 | 0 | 2.71 | 7.54 |
| 2015 (2) | 6.51 | 23.76 | 1.97 | 50.38 | 0.12 | 18.13 | 1.79 | 20.13 | 1.43 | 9.16 | 6.72 | -13.18 | 2.94 | -8.13 | 1.76 | -14.98 | 2.23 | 17.37 | 156.34 | -12.12 | 110.40 | 25.18 | -10.40 | 0 | 0.00 | 0 | 2.52 | 14.55 |
| 2014 (1) | 5.26 | 0 | 1.31 | 0 | 0.10 | -5.21 | 1.49 | 0 | 1.31 | 0 | 7.74 | 0 | 3.20 | 0 | 2.07 | -14.46 | 1.90 | 53.23 | 177.91 | -8.86 | 88.19 | 90.38 | 11.81 | -78.0 | 0.00 | 0 | 2.20 | 10.0 |
