- 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) | 70.89 | 8.64 | -1.51 | 4.10 | 191.52 | -80.58 | -7.09 | -121.26 | -144.96 | -6.35 | -122.84 | -160.25 | -0.32 | -121.77 | -142.67 | -0.27 | -120.77 | -139.71 | 0.04 | -20.0 | -33.33 | 17.57 | -68.2 | -41.8 | 14.08 | 20.03 | 6.18 | -60.00 | -400.0 | -146.36 | 160.00 | 37.93 | 553.33 | 37.77 | -2.93 | 33.13 |
| 23Q3 (19) | 65.25 | 3.44 | -0.24 | -4.48 | -169.14 | -460.0 | 33.35 | 3137.86 | 216.11 | 27.80 | 17275.0 | 302.9 | 1.47 | 14600.0 | 320.0 | 1.30 | 6400.0 | 306.25 | 0.05 | 0.0 | 0.0 | 55.26 | 203.96 | 90.88 | 11.73 | -22.47 | 5.58 | -12.00 | -102.0 | 4.0 | 116.00 | 123.2 | 3.11 | 38.91 | 23.88 | 3.93 |
| 23Q2 (18) | 63.08 | -5.91 | -12.29 | 6.48 | 208.57 | -64.94 | 1.03 | -88.36 | -91.39 | 0.16 | -97.79 | -98.4 | 0.01 | -97.44 | -98.39 | 0.02 | -94.29 | -96.43 | 0.05 | 0.0 | -16.67 | 18.18 | -36.77 | -30.93 | 15.13 | -11.62 | 6.32 | 600.00 | 2000.0 | 266.67 | -500.00 | -800.0 | -816.67 | 31.41 | -13.69 | 4.25 |
| 23Q1 (17) | 67.04 | -6.86 | -1.6 | 2.10 | -90.05 | -91.53 | 8.85 | -43.88 | -73.25 | 7.24 | -31.31 | -69.37 | 0.39 | -48.0 | -71.74 | 0.35 | -48.53 | -72.22 | 0.05 | -16.67 | 0.0 | 28.75 | -4.77 | -31.15 | 17.12 | 29.11 | 71.72 | 28.57 | -77.92 | -62.73 | 71.43 | 302.38 | 167.86 | 36.39 | 28.27 | 10.68 |
| 22Q4 (16) | 71.98 | 10.04 | 1.91 | 21.11 | 2738.75 | -29.59 | 15.77 | 49.48 | -64.0 | 10.54 | 52.75 | -70.84 | 0.75 | 114.29 | -73.96 | 0.68 | 112.5 | -74.05 | 0.06 | 20.0 | -14.29 | 30.19 | 4.28 | -38.06 | 13.26 | 19.35 | 16.42 | 129.41 | 1135.29 | 86.93 | -35.29 | -131.37 | -214.71 | 28.37 | -24.23 | 10.17 |
| 22Q3 (15) | 65.41 | -9.05 | -8.86 | -0.80 | -104.33 | -102.91 | 10.55 | -11.79 | -62.2 | 6.90 | -30.93 | -67.92 | 0.35 | -43.55 | -76.97 | 0.32 | -42.86 | -77.14 | 0.05 | -16.67 | -16.67 | 28.95 | 9.99 | -13.14 | 11.11 | -21.93 | 24.55 | -12.50 | -107.64 | -112.5 | 112.50 | 306.25 | 0 | 37.44 | 24.26 | 24.76 |
| 22Q2 (14) | 71.92 | 5.56 | 8.64 | 18.48 | -25.45 | -13.48 | 11.96 | -63.86 | -37.22 | 9.99 | -57.74 | -28.28 | 0.62 | -55.07 | -32.61 | 0.56 | -55.56 | -34.12 | 0.06 | 20.0 | 0.0 | 26.32 | -36.97 | 8.58 | 14.23 | 42.73 | 47.92 | 163.64 | 113.44 | 48.05 | -54.55 | -304.55 | -418.18 | 30.13 | -8.36 | 22.63 |
| 22Q1 (13) | 68.13 | -3.54 | -3.91 | 24.79 | -17.31 | -34.1 | 33.09 | -24.45 | -11.5 | 23.64 | -34.59 | -18.12 | 1.38 | -52.08 | -31.34 | 1.26 | -51.91 | -31.89 | 0.05 | -28.57 | -16.67 | 41.76 | -14.32 | -1.3 | 9.97 | -12.47 | 6.06 | 76.67 | 10.74 | -23.33 | 26.67 | -13.33 | 0 | 32.88 | 27.69 | 0.03 |
| 21Q4 (12) | 70.63 | -1.59 | 11.37 | 29.98 | 9.02 | 143.94 | 43.80 | 56.93 | 264.7 | 36.14 | 68.01 | 329.73 | 2.88 | 89.47 | 476.0 | 2.62 | 87.14 | 457.45 | 0.07 | 16.67 | 40.0 | 48.74 | 46.23 | 165.04 | 11.39 | 27.69 | 28.85 | 69.23 | -30.77 | -37.06 | 30.77 | 0 | 0 | 25.75 | -14.2 | -30.18 |
| 21Q3 (11) | 71.77 | 8.41 | -0.14 | 27.50 | 28.75 | -6.94 | 27.91 | 46.51 | -34.45 | 21.51 | 54.41 | -41.1 | 1.52 | 65.22 | -26.21 | 1.40 | 64.71 | -25.53 | 0.06 | 0.0 | 20.0 | 33.33 | 37.5 | -32.49 | 8.92 | -7.28 | 6.7 | 100.00 | -9.52 | 47.83 | 0.00 | 100.0 | -100.0 | 30.01 | 22.14 | -10.9 |
| 21Q2 (10) | 66.20 | -6.63 | 4.96 | 21.36 | -43.22 | -4.43 | 19.05 | -49.05 | -21.31 | 13.93 | -51.75 | -27.49 | 0.92 | -54.23 | -14.81 | 0.85 | -54.05 | -13.27 | 0.06 | 0.0 | 20.0 | 24.24 | -42.71 | -21.22 | 9.62 | 2.34 | -26.17 | 110.53 | 10.53 | 16.67 | -10.53 | 0 | -300.0 | 24.57 | -25.25 | 0 |
| 21Q1 (9) | 70.90 | 11.79 | 6.14 | 37.62 | 206.1 | 56.55 | 37.39 | 211.32 | 120.98 | 28.87 | 243.28 | 162.45 | 2.01 | 302.0 | 229.51 | 1.85 | 293.62 | 224.56 | 0.06 | 20.0 | 20.0 | 42.31 | 130.07 | 80.35 | 9.40 | 6.33 | 5.86 | 100.00 | -9.09 | -26.32 | 0.00 | 0 | 100.0 | 32.87 | -10.87 | -1.47 |
| 20Q4 (8) | 63.42 | -11.76 | 5.91 | 12.29 | -58.41 | -34.63 | 12.01 | -71.79 | 629.07 | 8.41 | -76.97 | 276.68 | 0.50 | -75.73 | 300.0 | 0.47 | -75.0 | 304.35 | 0.05 | 0.0 | 0.0 | 18.39 | -62.75 | 263.44 | 8.84 | 5.74 | 4.0 | 110.00 | 62.61 | 114.67 | 0.00 | -100.0 | -100.0 | 36.88 | 9.5 | 0 |
| 20Q3 (7) | 71.87 | 13.95 | 1.97 | 29.55 | 32.21 | 36.05 | 42.58 | 75.88 | 89.84 | 36.52 | 90.11 | 105.86 | 2.06 | 90.74 | 96.19 | 1.88 | 91.84 | 100.0 | 0.05 | 0.0 | 0.0 | 49.37 | 60.45 | 75.76 | 8.36 | -35.84 | 7.04 | 67.65 | -28.59 | -28.79 | 29.41 | 458.82 | 488.24 | 33.68 | 0 | 11.52 |
| 20Q2 (6) | 63.07 | -5.58 | -6.48 | 22.35 | -6.99 | 8.97 | 24.21 | 43.09 | 135.28 | 19.21 | 74.64 | 309.59 | 1.08 | 77.05 | 315.38 | 0.98 | 71.93 | 308.33 | 0.05 | 0.0 | 0.0 | 30.77 | 31.16 | 89.0 | 13.03 | 46.73 | -20.5 | 94.74 | -30.19 | -52.63 | 5.26 | 112.28 | 105.26 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 66.80 | 11.56 | -0.1 | 24.03 | 27.82 | -14.36 | 16.92 | 845.37 | -68.16 | 11.00 | 331.09 | -75.62 | 0.61 | 344.0 | -76.45 | 0.57 | 347.83 | -76.45 | 0.05 | 0.0 | 0.0 | 23.46 | 363.64 | -60.47 | 8.88 | 4.47 | 10.72 | 135.71 | 118.1 | 150.55 | -42.86 | -105.04 | -189.44 | 33.36 | 0 | 8.98 |
| 19Q4 (4) | 59.88 | -15.04 | 0.0 | 18.80 | -13.44 | 0.0 | -2.27 | -110.12 | 0.0 | -4.76 | -126.83 | 0.0 | -0.25 | -123.81 | 0.0 | -0.23 | -124.47 | 0.0 | 0.05 | 0.0 | 0.0 | 5.06 | -81.99 | 0.0 | 8.50 | 8.83 | 0.0 | -750.00 | -889.47 | 0.0 | 850.00 | 16900.0 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 70.48 | 4.51 | 0.0 | 21.72 | 5.9 | 0.0 | 22.43 | 117.98 | 0.0 | 17.74 | 278.25 | 0.0 | 1.05 | 303.85 | 0.0 | 0.94 | 291.67 | 0.0 | 0.05 | 0.0 | 0.0 | 28.09 | 72.54 | 0.0 | 7.81 | -52.35 | 0.0 | 95.00 | -52.5 | 0.0 | 5.00 | 105.0 | 0.0 | 30.20 | -6.62 | 0.0 |
| 19Q2 (2) | 67.44 | 0.85 | 0.0 | 20.51 | -26.91 | 0.0 | 10.29 | -80.64 | 0.0 | 4.69 | -89.61 | 0.0 | 0.26 | -89.96 | 0.0 | 0.24 | -90.08 | 0.0 | 0.05 | 0.0 | 0.0 | 16.28 | -72.56 | 0.0 | 16.39 | 104.36 | 0.0 | 200.00 | 269.23 | 0.0 | -100.00 | -308.7 | 0.0 | 32.34 | 5.65 | 0.0 |
| 19Q1 (1) | 66.87 | 0.0 | 0.0 | 28.06 | 0.0 | 0.0 | 53.14 | 0.0 | 0.0 | 45.12 | 0.0 | 0.0 | 2.59 | 0.0 | 0.0 | 2.42 | 0.0 | 0.0 | 0.05 | 0.0 | 0.0 | 59.34 | 0.0 | 0.0 | 8.02 | 0.0 | 0.0 | 54.17 | 0.0 | 0.0 | 47.92 | 0.0 | 0.0 | 30.61 | 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) | 66.41 | -4.67 | 2.20 | -86.91 | 20.44 | 50.85 | 8.86 | -50.72 | 7.05 | -45.26 | 1.52 | -51.59 | 1.39 | -50.88 | 0.19 | -13.64 | 29.56 | -6.78 | 14.08 | 6.18 | 25.00 | -73.39 | 75.00 | 1137.5 | 0.12 | 0 | 35.94 | 12.98 |
| 2022 (9) | 69.66 | -0.41 | 16.81 | -42.47 | 13.55 | 176.16 | 17.98 | -44.81 | 12.88 | -49.71 | 3.14 | -56.93 | 2.83 | -57.51 | 0.22 | -15.38 | 31.71 | -15.71 | 13.26 | 16.42 | 93.94 | 4.46 | 6.06 | -39.83 | 0.00 | 0 | 31.81 | 12.6 |
| 2021 (8) | 69.95 | 5.62 | 29.22 | 33.79 | 4.91 | -24.07 | 32.58 | 37.88 | 25.61 | 38.28 | 7.29 | 77.37 | 6.66 | 74.35 | 0.26 | 30.0 | 37.62 | 23.51 | 11.39 | 28.85 | 89.93 | -2.47 | 10.07 | 29.26 | 0.00 | 0 | 28.25 | -17.13 |
| 2020 (7) | 66.23 | -0.17 | 21.84 | -2.59 | 6.46 | 6.46 | 23.63 | 8.3 | 18.52 | 12.04 | 4.11 | 8.16 | 3.82 | 6.7 | 0.20 | -4.76 | 30.46 | 7.56 | 8.84 | 4.0 | 92.21 | -10.16 | 7.79 | 0 | 0.00 | 0 | 34.09 | 8.74 |
| 2019 (6) | 66.34 | -2.83 | 22.42 | -25.42 | 6.07 | -4.99 | 21.82 | -28.41 | 16.53 | -57.36 | 3.80 | -43.2 | 3.58 | -42.35 | 0.21 | -19.23 | 28.32 | -23.67 | 8.50 | 38.89 | 102.63 | 4.31 | -2.63 | 0 | 0.00 | 0 | 31.35 | 13.83 |
| 2018 (5) | 68.27 | 17.36 | 30.06 | 523.65 | 6.39 | -7.03 | 30.48 | 439.47 | 38.77 | 376.29 | 6.69 | 97.35 | 6.21 | 100.32 | 0.26 | -31.58 | 37.10 | 188.94 | 6.12 | -35.17 | 98.39 | 12.96 | 1.61 | -90.0 | 0.54 | -37.37 | 27.54 | -29.78 |
| 2017 (4) | 58.17 | 1.45 | 4.82 | 0 | 6.87 | -13.55 | 5.65 | 0 | 8.14 | 0 | 3.39 | 0 | 3.10 | 0 | 0.38 | 5.56 | 12.84 | 0 | 9.44 | -2.68 | 87.10 | 959.68 | 16.13 | -82.43 | 0.87 | 0 | 39.22 | 3.16 |
| 2016 (3) | 57.34 | 12.19 | -3.35 | 0 | 7.95 | -18.22 | -40.58 | 0 | -43.63 | 0 | -16.97 | 0 | -15.53 | 0 | 0.36 | 12.5 | -24.21 | 0 | 9.70 | 9.11 | 8.22 | -84.99 | 91.78 | 102.88 | 0.00 | 0 | 38.02 | 1.96 |
| 2015 (2) | 51.11 | 13.88 | -8.60 | 0 | 9.72 | -19.24 | -15.63 | 0 | -18.33 | 0 | -6.33 | 0 | -5.81 | 0 | 0.32 | -11.11 | 2.24 | 0 | 8.89 | -1.88 | 54.76 | 44.89 | 45.24 | -27.28 | 0.00 | 0 | 37.29 | -4.53 |
| 2014 (1) | 44.88 | 0 | -25.57 | 0 | 12.04 | 118.76 | -67.50 | 0 | -68.40 | 0 | -31.72 | 0 | -24.25 | 0 | 0.36 | 63.64 | -47.26 | 0 | 9.06 | -85.86 | 37.80 | -75.47 | 62.20 | 0 | 0.00 | 0 | 39.06 | 31.52 |
