- 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) | 38.48 | -1.51 | 6.45 | 0.18 | -98.78 | -98.59 | -5.91 | -136.75 | -149.92 | -5.11 | -137.82 | -127.86 | -0.50 | -130.49 | -125.25 | -0.09 | -108.57 | -107.38 | 0.05 | -28.57 | -16.67 | 17.74 | -49.84 | -47.5 | 85.24 | 2.76 | -1.57 | -0.00 | -100.0 | -100.0 | 100.00 | 1225.0 | 1233.33 | 26.24 | 5.3 | 11.14 |
| 23Q3 (19) | 39.07 | -5.01 | -2.59 | 14.74 | 11.5 | 1.59 | 16.08 | 43.19 | -25.97 | 13.51 | 38.42 | -27.17 | 1.64 | 64.0 | -23.0 | 1.05 | 47.89 | -16.0 | 0.07 | 40.0 | 16.67 | 35.37 | 3.48 | -17.21 | 82.95 | -3.69 | -11.06 | 90.57 | -22.01 | 35.85 | 7.55 | 146.79 | -77.36 | 24.92 | -10.0 | 3.7 |
| 23Q2 (18) | 41.13 | 11.43 | 17.01 | 13.22 | 35.04 | 70.8 | 11.23 | -7.95 | 450.49 | 9.76 | -19.21 | 1500.0 | 1.00 | -16.67 | 1566.67 | 0.71 | -12.35 | 273.68 | 0.05 | 0.0 | 0.0 | 34.18 | -4.58 | 30.61 | 86.13 | -3.77 | -16.8 | 116.13 | 47.39 | -70.97 | -16.13 | -188.71 | 94.62 | 27.69 | 3.48 | 6.66 |
| 23Q1 (17) | 36.91 | 2.1 | 13.08 | 9.79 | -23.46 | 56.14 | 12.20 | 3.04 | 99.02 | 12.08 | -34.13 | 210.54 | 1.20 | -39.39 | 215.79 | 0.81 | -33.61 | 131.43 | 0.05 | -16.67 | 0.0 | 35.82 | 6.01 | 24.9 | 89.50 | 3.35 | -6.44 | 78.79 | -27.6 | -25.85 | 18.18 | 306.06 | 0 | 26.76 | 13.34 | -0.22 |
| 22Q4 (16) | 36.15 | -9.87 | 8.01 | 12.79 | -11.85 | 237.47 | 11.84 | -45.49 | 193.07 | 18.34 | -1.13 | 359.65 | 1.98 | -7.04 | 395.0 | 1.22 | -2.4 | 229.73 | 0.06 | 0.0 | 20.0 | 33.79 | -20.9 | 26.6 | 86.60 | -7.14 | -8.79 | 108.82 | 63.24 | 19.71 | -8.82 | -126.47 | -197.06 | 23.61 | -1.75 | -3.48 |
| 22Q3 (15) | 40.11 | 14.11 | 16.77 | 14.51 | 87.47 | 14.98 | 21.72 | 964.71 | -26.65 | 18.55 | 2940.98 | -32.91 | 2.13 | 3450.0 | -20.82 | 1.25 | 557.89 | -20.38 | 0.06 | 20.0 | 20.0 | 42.72 | 63.24 | -13.91 | 93.26 | -9.91 | 0.8 | 66.67 | -83.33 | 55.56 | 33.33 | 111.11 | -41.67 | 24.03 | -7.43 | -1.72 |
| 22Q2 (14) | 35.15 | 7.69 | 0.0 | 7.74 | 23.44 | -46.29 | 2.04 | -66.72 | -89.5 | 0.61 | -84.32 | -96.56 | 0.06 | -84.21 | -96.25 | 0.19 | -45.71 | -80.81 | 0.05 | 0.0 | 0.0 | 26.17 | -8.75 | -35.64 | 103.52 | 8.22 | 16.98 | 400.00 | 276.47 | 437.14 | -300.00 | 0 | -1275.0 | 25.96 | -3.21 | 7.27 |
| 22Q1 (13) | 32.64 | -2.48 | -4.45 | 6.27 | 65.44 | -55.94 | 6.13 | 51.73 | -60.68 | 3.89 | -2.51 | -68.48 | 0.38 | -5.0 | -67.24 | 0.35 | -5.41 | -52.7 | 0.05 | 0.0 | 0.0 | 28.68 | 7.46 | -22.15 | 95.66 | 0.75 | -5.75 | 106.25 | 16.88 | 15.36 | 0.00 | -100.0 | -100.0 | 26.82 | 9.65 | 13.84 |
| 21Q4 (12) | 33.47 | -2.56 | -9.61 | 3.79 | -69.97 | -75.69 | 4.04 | -86.36 | -17.38 | 3.99 | -85.57 | -31.68 | 0.40 | -85.13 | -23.08 | 0.37 | -76.43 | -13.95 | 0.05 | 0.0 | 25.0 | 26.69 | -46.21 | -4.34 | 94.95 | 2.63 | -13.25 | 90.91 | 112.12 | -72.22 | 9.09 | -84.09 | 104.0 | 24.46 | 0.04 | 37.18 |
| 21Q3 (11) | 34.35 | -2.28 | -21.91 | 12.62 | -12.42 | -44.43 | 29.61 | 52.39 | 11.86 | 27.65 | 56.04 | 14.87 | 2.69 | 68.12 | 11.62 | 1.57 | 58.59 | 18.94 | 0.05 | 0.0 | 0.0 | 49.62 | 22.04 | 6.16 | 92.52 | 4.55 | -16.26 | 42.86 | -42.45 | -49.88 | 57.14 | 123.81 | 294.29 | 24.45 | 1.03 | 1.49 |
| 21Q2 (10) | 35.15 | 2.9 | -10.88 | 14.41 | 1.26 | -21.3 | 19.43 | 24.63 | -37.66 | 17.72 | 43.6 | -39.19 | 1.60 | 37.93 | -38.22 | 0.99 | 33.78 | -29.79 | 0.05 | 0.0 | 25.0 | 40.66 | 10.37 | -24.3 | 88.49 | -12.82 | -22.53 | 74.47 | -19.15 | 25.89 | 25.53 | 223.4 | -37.49 | 24.20 | 2.72 | 0.75 |
| 21Q1 (9) | 34.16 | -7.75 | -7.48 | 14.23 | -8.72 | -24.11 | 15.59 | 218.81 | 3702.44 | 12.34 | 111.3 | 1211.71 | 1.16 | 123.08 | 1260.0 | 0.74 | 72.09 | 469.23 | 0.05 | 25.0 | 25.0 | 36.84 | 32.04 | 67.53 | 101.50 | -7.26 | -5.75 | 92.11 | -71.86 | -97.95 | 7.89 | 103.47 | 100.18 | 23.56 | 32.14 | 5.56 |
| 20Q4 (8) | 37.03 | -15.82 | -22.98 | 15.59 | -31.35 | -35.45 | 4.89 | -81.53 | 432.65 | 5.84 | -75.74 | 230.65 | 0.52 | -78.42 | 210.64 | 0.43 | -67.42 | 960.0 | 0.04 | -20.0 | -20.0 | 27.90 | -40.31 | 67.37 | 109.45 | -0.93 | -0.48 | 327.27 | 282.74 | 120.14 | -227.27 | -1668.18 | -113.18 | 17.83 | -25.99 | -6.21 |
| 20Q3 (7) | 43.99 | 11.54 | -0.92 | 22.71 | 24.03 | -8.94 | 26.47 | -15.08 | 29.18 | 24.07 | -17.4 | 35.61 | 2.41 | -6.95 | 12.62 | 1.32 | -6.38 | 2.33 | 0.05 | 25.0 | -16.67 | 46.74 | -12.98 | 16.27 | 110.48 | -3.28 | 0.79 | 85.51 | 44.55 | -29.31 | 14.49 | -64.52 | 169.12 | 24.09 | 0.29 | 13.74 |
| 20Q2 (6) | 39.44 | 6.83 | 7.55 | 18.31 | -2.35 | 18.13 | 31.17 | 7502.44 | 93.12 | 29.14 | 2725.23 | 101.1 | 2.59 | 2690.0 | 86.33 | 1.41 | 984.62 | 58.43 | 0.04 | 0.0 | -20.0 | 53.71 | 144.25 | 61.15 | 114.23 | 6.07 | 23.03 | 59.15 | -98.69 | -39.2 | 40.85 | 100.93 | 1411.27 | 24.02 | 7.62 | -11.27 |
| 20Q1 (5) | 36.92 | -23.21 | 6.4 | 18.75 | -22.36 | 51.45 | 0.41 | 127.89 | -97.99 | -1.11 | 75.17 | -105.24 | -0.10 | 78.72 | -105.15 | 0.13 | 360.0 | -89.26 | 0.04 | -20.0 | -20.0 | 21.99 | 31.91 | -40.08 | 107.69 | -2.08 | 18.07 | 4500.00 | 376.92 | 7233.33 | -4400.00 | -355.07 | -11488.24 | 22.32 | 17.41 | -20.46 |
| 19Q4 (4) | 48.08 | 8.29 | 0.0 | 24.15 | -3.17 | 0.0 | -1.47 | -107.17 | 0.0 | -4.47 | -125.18 | 0.0 | -0.47 | -121.96 | 0.0 | -0.05 | -103.88 | 0.0 | 0.05 | -16.67 | 0.0 | 16.67 | -58.53 | 0.0 | 109.98 | 0.34 | 0.0 | -1625.00 | -1443.33 | 0.0 | 1725.00 | 8326.92 | 0.0 | 19.01 | -10.25 | 0.0 |
| 19Q3 (3) | 44.40 | 21.08 | 0.0 | 24.94 | 60.9 | 0.0 | 20.49 | 26.95 | 0.0 | 17.75 | 22.5 | 0.0 | 2.14 | 53.96 | 0.0 | 1.29 | 44.94 | 0.0 | 0.06 | 20.0 | 0.0 | 40.20 | 20.61 | 0.0 | 109.61 | 18.05 | 0.0 | 120.97 | 24.33 | 0.0 | -20.97 | -875.81 | 0.0 | 21.18 | -21.76 | 0.0 |
| 19Q2 (2) | 36.67 | 5.68 | 0.0 | 15.50 | 25.2 | 0.0 | 16.14 | -20.73 | 0.0 | 14.49 | -31.65 | 0.0 | 1.39 | -28.35 | 0.0 | 0.89 | -26.45 | 0.0 | 0.05 | 0.0 | 0.0 | 33.33 | -9.18 | 0.0 | 92.85 | 1.8 | 0.0 | 97.30 | 58.56 | 0.0 | 2.70 | -93.0 | 0.0 | 27.07 | -3.53 | 0.0 |
| 19Q1 (1) | 34.70 | 0.0 | 0.0 | 12.38 | 0.0 | 0.0 | 20.36 | 0.0 | 0.0 | 21.20 | 0.0 | 0.0 | 1.94 | 0.0 | 0.0 | 1.21 | 0.0 | 0.0 | 0.05 | 0.0 | 0.0 | 36.70 | 0.0 | 0.0 | 91.21 | 0.0 | 0.0 | 61.36 | 0.0 | 0.0 | 38.64 | 0.0 | 0.0 | 28.06 | 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) | 38.92 | 7.63 | 9.81 | -6.93 | 18.13 | -0.08 | 8.86 | -18.72 | 7.92 | -27.21 | 3.31 | -25.95 | 2.47 | -18.48 | 0.22 | 0.0 | 31.07 | -6.53 | 85.24 | -1.57 | 109.90 | 13.66 | -10.89 | 0 | 0.54 | -19.77 | 26.34 | 5.23 |
| 2022 (9) | 36.16 | 5.55 | 10.54 | -5.22 | 18.15 | 6.89 | 10.90 | -36.18 | 10.88 | -29.17 | 4.47 | -23.85 | 3.03 | -14.65 | 0.22 | 15.79 | 33.24 | -13.44 | 86.60 | -8.79 | 96.69 | 48.04 | 3.31 | -90.47 | 0.67 | -5.12 | 25.03 | 3.52 |
| 2021 (8) | 34.26 | -13.18 | 11.12 | -41.32 | 16.98 | 3.05 | 17.08 | 7.76 | 15.36 | 5.42 | 5.87 | 8.91 | 3.55 | 7.58 | 0.19 | 5.56 | 38.40 | 2.37 | 94.95 | -13.25 | 65.32 | -45.39 | 34.68 | 0 | 0.71 | 0 | 24.18 | 9.31 |
| 2020 (7) | 39.46 | -5.03 | 18.95 | -4.77 | 16.48 | 20.91 | 15.85 | 16.03 | 14.57 | 22.75 | 5.39 | 12.76 | 3.30 | 5.1 | 0.18 | -10.0 | 37.51 | 18.44 | 109.45 | -0.48 | 119.61 | -18.1 | -19.61 | 0 | 0.00 | 0 | 22.12 | 0.14 |
| 2019 (6) | 41.55 | 40.23 | 19.90 | 230.02 | 13.63 | 74.39 | 13.66 | 62.62 | 11.87 | 56.39 | 4.78 | 82.44 | 3.14 | 56.22 | 0.20 | -9.09 | 31.67 | 72.87 | 109.98 | 29.72 | 146.04 | 105.65 | -46.04 | 0 | 0.00 | 0 | 22.09 | -24.89 |
| 2018 (5) | 29.63 | -0.4 | 6.03 | 204.55 | 7.81 | 15.94 | 8.40 | -51.56 | 7.59 | -51.93 | 2.62 | -53.71 | 2.01 | -55.82 | 0.22 | -18.52 | 18.32 | -27.07 | 84.78 | 176.61 | 71.01 | 525.82 | 27.54 | -68.94 | 0.00 | 0 | 29.41 | -18.82 |
| 2017 (4) | 29.75 | -18.09 | 1.98 | -84.9 | 6.74 | 16.18 | 17.34 | 69.17 | 15.79 | 71.44 | 5.66 | 45.88 | 4.55 | 44.44 | 0.27 | -15.62 | 25.12 | 46.99 | 30.65 | -0.87 | 11.35 | -91.12 | 88.65 | 0 | 0.00 | 0 | 36.23 | 33.89 |
| 2016 (3) | 36.32 | 16.93 | 13.11 | 724.53 | 5.80 | -9.55 | 10.25 | -45.1 | 9.21 | -38.19 | 3.88 | -39.47 | 3.15 | -39.07 | 0.32 | -3.03 | 17.09 | -34.47 | 30.92 | -15.19 | 127.84 | 1416.98 | -27.84 | 0 | 0.00 | 0 | 27.06 | -13.35 |
| 2015 (2) | 31.06 | 29.69 | 1.59 | 0 | 6.41 | -39.14 | 18.67 | 0 | 14.90 | 0 | 6.41 | 0 | 5.17 | 0 | 0.33 | 10.0 | 26.08 | 335.39 | 36.46 | 51.79 | 8.43 | -83.88 | 91.57 | 91.87 | 0.00 | 0 | 31.23 | 1.76 |
| 2014 (1) | 23.95 | 0 | -2.78 | 0 | 10.54 | 3.63 | -5.25 | 0 | -7.71 | 0 | -2.85 | 0 | -2.18 | 0 | 0.30 | -9.09 | 5.99 | 5.46 | 24.02 | 27.16 | 52.27 | 0 | 47.73 | -52.27 | 0.00 | 0 | 30.69 | 5.39 |
