- 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) | 25.70 | 6.95 | 8.12 | 5.15 | 1.38 | 9.34 | 6.84 | 9.97 | -30.7 | 3.68 | -53.18 | -59.02 | 0.99 | -52.63 | -61.92 | 0.60 | -45.95 | -54.55 | 0.12 | 0.0 | -7.69 | 29.55 | 3.65 | -9.88 | 130.10 | 6.95 | 10.05 | 76.19 | -5.98 | 60.66 | 25.40 | 33.91 | -51.7 | 43.21 | 3.2 | 9.81 |
| 23Q3 (19) | 24.03 | -15.42 | -22.73 | 5.08 | -52.61 | -61.83 | 6.22 | -50.44 | -63.69 | 7.86 | -41.47 | -41.6 | 2.09 | -44.71 | -47.22 | 1.11 | -41.58 | -40.96 | 0.12 | -7.69 | -7.69 | 28.51 | -16.2 | -27.99 | 121.64 | 3.76 | -1.2 | 81.03 | -4.94 | 4.1 | 18.97 | 28.54 | -14.4 | 41.87 | 7.72 | 13.84 |
| 23Q2 (18) | 28.41 | -0.28 | 8.6 | 10.72 | 0.75 | 31.86 | 12.55 | 18.4 | 6.81 | 13.43 | 73.74 | 39.17 | 3.78 | 70.27 | 41.04 | 1.90 | 62.39 | 45.04 | 0.13 | 0.0 | 8.33 | 34.02 | 5.62 | -1.93 | 117.23 | 0.73 | -8.29 | 85.25 | -14.75 | 23.26 | 14.75 | 0 | -52.16 | 38.87 | 2.02 | 3.93 |
| 23Q1 (17) | 28.49 | 19.86 | 3.45 | 10.64 | 125.9 | 9.8 | 10.60 | 7.4 | -4.5 | 7.73 | -13.92 | -14.59 | 2.22 | -14.62 | -6.72 | 1.17 | -11.36 | -2.5 | 0.13 | 0.0 | 8.33 | 32.21 | -1.77 | -6.99 | 116.38 | -1.56 | -4.89 | 100.00 | 110.87 | 14.12 | 0.00 | -100.0 | -100.0 | 38.10 | -3.18 | 4.93 |
| 22Q4 (16) | 23.77 | -23.57 | -8.29 | 4.71 | -64.61 | -35.48 | 9.87 | -42.38 | 81.77 | 8.98 | -33.28 | 166.47 | 2.60 | -34.34 | 202.33 | 1.32 | -29.79 | 153.85 | 0.13 | 0.0 | 8.33 | 32.79 | -17.18 | 6.91 | 118.22 | -3.98 | 0.86 | 47.42 | -39.08 | -64.43 | 52.58 | 137.31 | 257.73 | 39.35 | 6.99 | -1.3 |
| 22Q3 (15) | 31.10 | 18.88 | 35.93 | 13.31 | 63.71 | 200.45 | 17.13 | 45.79 | 119.05 | 13.46 | 39.48 | 174.13 | 3.96 | 47.76 | 270.09 | 1.88 | 43.51 | 184.85 | 0.13 | 8.33 | 18.18 | 39.59 | 14.13 | 13.34 | 123.12 | -3.68 | 18.17 | 77.84 | 12.56 | 38.39 | 22.16 | -28.16 | -49.36 | 36.78 | -1.66 | 2.71 |
| 22Q2 (14) | 26.16 | -5.01 | 11.7 | 8.13 | -16.1 | 136.34 | 11.75 | 5.86 | 138.34 | 9.65 | 6.63 | 357.35 | 2.68 | 12.61 | 553.66 | 1.31 | 9.17 | 309.38 | 0.12 | 0.0 | 9.09 | 34.69 | 0.17 | 5.73 | 127.82 | 4.46 | 53.13 | 69.16 | -21.08 | -2.67 | 30.84 | 149.3 | -2.34 | 37.40 | 3.0 | 1.6 |
| 22Q1 (13) | 27.54 | 6.25 | -0.29 | 9.69 | 32.74 | 17.45 | 11.10 | 104.42 | 32.62 | 9.05 | 168.55 | 82.09 | 2.38 | 176.74 | 155.91 | 1.20 | 130.77 | 96.72 | 0.12 | 0.0 | 20.0 | 34.63 | 12.91 | -6.71 | 122.36 | 4.39 | 60.03 | 87.63 | -34.28 | -10.96 | 12.37 | 137.11 | 679.38 | 36.31 | -8.93 | 9.7 |
| 21Q4 (12) | 25.92 | 13.29 | 6.54 | 7.30 | 64.79 | 127.41 | 5.43 | -30.56 | 22.02 | 3.37 | -31.36 | -3.99 | 0.86 | -19.63 | 26.47 | 0.52 | -21.21 | 10.64 | 0.12 | 9.09 | 20.0 | 30.67 | -12.2 | -6.15 | 117.21 | 12.5 | 33.69 | 133.33 | 137.04 | 81.33 | -33.33 | -176.19 | -213.33 | 39.87 | 11.34 | 0.58 |
| 21Q3 (11) | 22.88 | -2.31 | -18.2 | 4.43 | 28.78 | -46.17 | 7.82 | 58.62 | -20.37 | 4.91 | 132.7 | -50.4 | 1.07 | 160.98 | -43.39 | 0.66 | 106.25 | -35.92 | 0.11 | 0.0 | 22.22 | 34.93 | 6.46 | -8.94 | 104.19 | 24.82 | -8.86 | 56.25 | -20.83 | -32.14 | 43.75 | 38.54 | 177.08 | 35.81 | -2.72 | 14.19 |
| 21Q2 (10) | 23.42 | -15.21 | -17.36 | 3.44 | -58.3 | -54.13 | 4.93 | -41.1 | -42.87 | 2.11 | -57.55 | -75.52 | 0.41 | -55.91 | -74.21 | 0.32 | -47.54 | -65.22 | 0.11 | 10.0 | 22.22 | 32.81 | -11.61 | -13.22 | 83.47 | 9.17 | -26.19 | 71.05 | -27.8 | -17.73 | 31.58 | 1889.47 | 131.58 | 36.81 | 11.21 | 1.83 |
| 21Q1 (9) | 27.62 | 13.52 | -7.1 | 8.25 | 157.01 | -25.2 | 8.37 | 88.09 | -24.05 | 4.97 | 41.6 | -39.68 | 0.93 | 36.76 | -36.73 | 0.61 | 29.79 | -29.07 | 0.10 | 0.0 | 25.0 | 37.12 | 13.59 | -9.29 | 76.46 | -12.79 | -28.81 | 98.41 | 33.84 | -1.59 | 1.59 | -94.6 | 0 | 33.10 | -16.5 | 0 |
| 20Q4 (8) | 24.33 | -13.01 | 296.69 | 3.21 | -61.0 | 103.19 | 4.45 | -54.68 | 102.41 | 3.51 | -64.55 | -98.96 | 0.68 | -64.02 | 125.86 | 0.47 | -54.37 | 144.34 | 0.10 | 11.11 | 900.0 | 32.68 | -14.81 | -90.97 | 87.67 | -23.31 | -23.46 | 73.53 | -11.3 | 34.08 | 29.41 | 86.27 | -34.87 | 39.64 | 26.4 | -85.52 |
| 20Q3 (7) | 27.97 | -1.31 | 29.97 | 8.23 | 9.73 | 3819.05 | 9.82 | 13.79 | 1015.91 | 9.90 | 14.85 | 1051.16 | 1.89 | 18.87 | 575.0 | 1.03 | 11.96 | 186.11 | 0.09 | 0.0 | -10.0 | 38.36 | 1.45 | 16.67 | 114.32 | 1.1 | -47.47 | 82.89 | -4.02 | 231.58 | 15.79 | 15.79 | -78.95 | 31.36 | -13.25 | -4.04 |
| 20Q2 (6) | 28.34 | -4.68 | 71.24 | 7.50 | -32.0 | 223.15 | 8.63 | -21.69 | 483.56 | 8.62 | 4.61 | 584.27 | 1.59 | 8.16 | 405.77 | 0.92 | 6.98 | 820.0 | 0.09 | 12.5 | 0.0 | 37.81 | -7.6 | 13.17 | 113.08 | 5.28 | -49.58 | 86.36 | -13.64 | -67.83 | 13.64 | 0 | 108.1 | 36.15 | 0 | 5.73 |
| 20Q1 (5) | 29.73 | 340.34 | 211.31 | 11.03 | 110.96 | 167.13 | 11.02 | 105.97 | 159.79 | 8.24 | -97.57 | 144.56 | 1.47 | 155.89 | 134.27 | 0.86 | 181.13 | 178.9 | 0.08 | 700.0 | 14.29 | 40.92 | -88.7 | 62.0 | 107.41 | -6.22 | -52.76 | 100.00 | 82.35 | 12.61 | -0.00 | -100.0 | -100.0 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | -12.37 | -157.48 | 0.0 | -100.63 | -48019.05 | 0.0 | -184.54 | -21070.45 | 0.0 | 338.82 | 39297.67 | 0.0 | -2.63 | -1039.29 | 0.0 | -1.06 | -394.44 | 0.0 | 0.01 | -90.0 | 0.0 | 362.00 | 1000.97 | 0.0 | 114.54 | -47.37 | 0.0 | 54.84 | 119.35 | 0.0 | 45.16 | -39.78 | 0.0 | 273.78 | 737.76 | 0.0 |
| 19Q3 (3) | 21.52 | 30.03 | 0.0 | 0.21 | 103.45 | 0.0 | 0.88 | 139.11 | 0.0 | 0.86 | 148.31 | 0.0 | 0.28 | 153.85 | 0.0 | 0.36 | 260.0 | 0.0 | 0.10 | 11.11 | 0.0 | 32.88 | -1.59 | 0.0 | 217.62 | -2.97 | 0.0 | 25.00 | -90.69 | 0.0 | 75.00 | 144.53 | 0.0 | 32.68 | -4.42 | 0.0 |
| 19Q2 (2) | 16.55 | 73.3 | 0.0 | -6.09 | 62.93 | 0.0 | -2.25 | 87.79 | 0.0 | -1.78 | 90.37 | 0.0 | -0.52 | 87.88 | 0.0 | 0.10 | 109.17 | 0.0 | 0.09 | 28.57 | 0.0 | 33.41 | 32.26 | 0.0 | 224.29 | -1.36 | 0.0 | 268.42 | 202.28 | 0.0 | -168.42 | -1719.43 | 0.0 | 34.19 | -14.1 | 0.0 |
| 19Q1 (1) | 9.55 | 0.0 | 0.0 | -16.43 | 0.0 | 0.0 | -18.43 | 0.0 | 0.0 | -18.49 | 0.0 | 0.0 | -4.29 | 0.0 | 0.0 | -1.09 | 0.0 | 0.0 | 0.07 | 0.0 | 0.0 | 25.26 | 0.0 | 0.0 | 227.38 | 0.0 | 0.0 | 88.80 | 0.0 | 0.0 | 10.40 | 0.0 | 0.0 | 39.80 | 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) | 26.70 | -1.62 | 7.97 | -10.95 | 20.20 | -5.61 | 9.11 | -27.18 | 8.23 | -20.33 | 9.32 | -18.89 | 4.79 | -17.13 | 0.51 | 0.0 | 31.14 | -12.16 | 130.10 | 10.05 | 87.61 | 22.39 | 12.68 | -55.38 | 0.14 | -23.92 | 40.46 | 7.89 |
| 2022 (9) | 27.14 | 8.78 | 8.95 | 52.47 | 21.40 | -16.73 | 12.51 | 89.55 | 10.33 | 169.71 | 11.49 | 238.94 | 5.78 | 176.56 | 0.51 | 15.91 | 35.45 | 4.91 | 118.22 | 0.86 | 71.58 | -19.71 | 28.42 | 151.03 | 0.19 | -9.21 | 37.50 | 2.66 |
| 2021 (8) | 24.95 | -9.5 | 5.87 | -21.31 | 25.70 | -3.09 | 6.60 | -21.99 | 3.83 | -49.34 | 3.39 | -40.63 | 2.09 | -39.77 | 0.44 | 18.92 | 33.79 | -9.56 | 117.21 | 33.69 | 89.15 | 0.93 | 11.32 | -3.02 | 0.21 | -4.21 | 36.53 | 6.07 |
| 2020 (7) | 27.57 | 72.64 | 7.46 | 0 | 26.52 | -37.89 | 8.46 | 0 | 7.56 | 387.74 | 5.71 | 0 | 3.47 | 0 | 0.37 | 32.14 | 37.36 | -0.48 | 87.67 | -23.46 | 88.33 | -4.56 | 11.67 | 56.56 | 0.22 | 28.13 | 34.44 | -13.73 |
| 2019 (6) | 15.97 | 2.31 | -8.38 | 0 | 42.70 | 54.58 | -9.06 | 0 | 1.55 | 0 | -6.35 | 0 | -1.72 | 0 | 0.28 | -15.15 | 37.54 | 76.24 | 114.54 | -45.14 | 92.54 | -6.5 | 7.46 | 625.73 | 0.17 | -46.76 | 39.92 | 5.14 |
| 2018 (5) | 15.61 | -46.0 | -9.57 | 0 | 27.62 | 37.57 | -9.67 | 0 | -10.05 | 0 | -9.72 | 0 | -2.55 | 0 | 0.33 | -17.5 | 21.30 | -23.66 | 208.77 | 20.46 | 98.97 | 24.44 | 1.03 | -95.12 | 0.32 | 0 | 37.97 | 4.57 |
| 2017 (4) | 28.91 | -3.21 | 4.80 | -28.14 | 20.08 | 11.0 | 6.06 | -31.21 | 4.25 | -35.21 | 4.31 | -42.15 | 2.14 | -42.93 | 0.40 | -23.08 | 27.90 | -0.75 | 173.31 | 37.47 | 79.53 | 4.35 | 21.05 | -13.26 | 0.00 | 0 | 36.31 | -5.71 |
| 2016 (3) | 29.87 | 3.04 | 6.68 | 0 | 18.09 | -9.11 | 8.81 | -45.48 | 6.56 | -49.77 | 7.45 | -50.56 | 3.75 | -53.07 | 0.52 | -10.34 | 28.11 | -24.8 | 126.07 | 15.99 | 76.21 | 0 | 24.27 | -76.17 | 0.00 | 0 | 38.51 | -10.11 |
| 2015 (2) | 28.99 | -23.93 | -0.34 | 0 | 19.90 | -6.43 | 16.16 | 13.4 | 13.06 | -0.15 | 15.07 | -2.71 | 7.99 | -10.12 | 0.58 | -10.77 | 37.38 | 2.21 | 108.69 | 21.78 | -2.14 | 0 | 101.83 | 1064.46 | 0.00 | 0 | 42.84 | 22.54 |
| 2014 (1) | 38.11 | 0 | 12.98 | 0 | 21.27 | -5.81 | 14.25 | 0 | 13.08 | 0 | 15.49 | 0 | 8.89 | 0 | 0.65 | 8.33 | 36.57 | 21.21 | 89.25 | 15.5 | 90.87 | -18.95 | 8.75 | 0 | 0.00 | 0 | 34.96 | -7.56 |
