- 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) | 20.90 | -1.74 | 4.45 | 9.08 | 18.54 | -0.87 | 7.69 | -27.32 | 5.34 | 6.13 | -25.43 | 20.43 | 3.54 | -25.94 | 38.82 | 1.76 | -27.27 | 37.5 | 0.29 | 0.0 | 16.0 | 9.86 | -25.53 | -12.9 | 102.30 | 1.99 | 11.24 | 119.28 | 64.01 | -4.86 | -18.07 | -166.27 | 28.77 | 12.96 | -12.25 | 6.23 |
| 23Q3 (19) | 21.27 | 4.68 | 12.07 | 7.66 | 40.81 | 63.33 | 10.58 | 0.86 | 13.64 | 8.22 | 8.73 | 25.5 | 4.78 | 33.89 | 6.7 | 2.42 | 27.37 | 18.05 | 0.29 | 16.0 | -3.33 | 13.24 | -4.06 | 1.69 | 100.30 | 4.52 | -9.05 | 72.73 | 42.29 | 45.45 | 27.27 | -42.92 | -44.48 | 14.77 | -15.21 | 7.03 |
| 23Q2 (18) | 20.32 | 1.96 | 9.78 | 5.44 | 8.37 | 2.64 | 10.49 | 144.52 | 22.83 | 7.56 | 136.99 | 16.31 | 3.57 | 151.41 | -18.86 | 1.90 | 146.75 | -1.04 | 0.25 | 4.17 | -13.79 | 13.80 | 68.5 | 10.31 | 95.96 | 16.71 | -32.64 | 51.11 | -56.19 | -17.74 | 47.78 | 386.67 | 26.18 | 17.42 | 4.19 | 8.06 |
| 23Q1 (17) | 19.93 | -0.4 | 4.02 | 5.02 | -45.2 | -12.85 | 4.29 | -41.23 | -36.35 | 3.19 | -37.33 | -37.33 | 1.42 | -44.31 | -59.66 | 0.77 | -39.84 | -50.96 | 0.24 | -4.0 | -20.0 | 8.19 | -27.65 | -22.52 | 82.22 | -10.59 | -35.39 | 116.67 | -6.94 | 36.67 | -16.67 | 34.31 | -213.89 | 16.72 | 37.05 | 5.22 |
| 22Q4 (16) | 20.01 | 5.43 | 7.41 | 9.16 | 95.31 | 16.99 | 7.30 | -21.59 | 5.64 | 5.09 | -22.29 | -7.62 | 2.55 | -43.08 | -41.38 | 1.28 | -37.56 | -31.55 | 0.25 | -16.67 | -24.24 | 11.32 | -13.06 | 8.02 | 91.96 | -16.61 | -32.44 | 125.37 | 150.75 | 10.77 | -25.37 | -151.65 | -92.41 | 12.20 | -11.59 | -25.88 |
| 22Q3 (15) | 18.98 | 2.54 | -0.26 | 4.69 | -11.51 | -25.08 | 9.31 | 9.02 | 41.49 | 6.55 | 0.77 | 48.19 | 4.48 | 1.82 | 32.94 | 2.05 | 6.77 | 37.58 | 0.30 | 3.45 | -6.25 | 13.02 | 4.08 | 25.92 | 110.28 | -22.58 | -22.39 | 50.00 | -19.53 | -47.5 | 49.12 | 29.73 | 931.58 | 13.80 | -14.39 | -20.28 |
| 22Q2 (14) | 18.51 | -3.39 | 2.43 | 5.30 | -7.99 | -17.32 | 8.54 | 26.71 | 72.18 | 6.50 | 27.7 | 71.5 | 4.40 | 25.0 | 59.42 | 1.92 | 22.29 | 54.84 | 0.29 | -3.33 | -6.45 | 12.51 | 18.35 | 36.57 | 142.45 | 11.94 | 9.92 | 62.14 | -27.21 | -51.84 | 37.86 | 158.74 | 230.42 | 16.12 | 1.45 | -20.4 |
| 22Q1 (13) | 19.16 | 2.84 | 28.42 | 5.76 | -26.44 | 227.27 | 6.74 | -2.46 | 303.59 | 5.09 | -7.62 | 414.14 | 3.52 | -19.08 | 425.37 | 1.57 | -16.04 | 375.76 | 0.30 | -9.09 | 11.11 | 10.57 | 0.86 | 64.9 | 127.25 | -6.52 | -7.77 | 85.37 | -24.58 | -18.9 | 14.63 | 210.98 | 378.05 | 15.89 | -3.46 | -32.47 |
| 21Q4 (12) | 18.63 | -2.1 | -7.77 | 7.83 | 25.08 | 32.71 | 6.91 | 5.02 | 46.71 | 5.51 | 24.66 | 80.66 | 4.35 | 29.08 | 82.01 | 1.87 | 25.5 | 98.94 | 0.33 | 3.13 | 13.79 | 10.48 | 1.35 | 13.05 | 136.12 | -4.21 | -14.99 | 113.19 | 18.85 | -9.15 | -13.19 | -376.92 | 46.37 | 16.46 | -4.91 | -19.19 |
| 21Q3 (11) | 19.03 | 5.31 | 1.87 | 6.26 | -2.34 | 2.29 | 6.58 | 32.66 | 64.91 | 4.42 | 16.62 | 58.42 | 3.37 | 22.1 | 49.12 | 1.49 | 20.16 | 77.38 | 0.32 | 3.23 | 14.29 | 10.34 | 12.88 | 23.24 | 142.10 | 9.65 | -23.98 | 95.24 | -26.19 | -38.52 | 4.76 | 116.4 | 108.99 | 17.31 | -14.52 | -6.18 |
| 21Q2 (10) | 18.07 | 21.11 | -12.62 | 6.41 | 264.2 | -28.46 | 4.96 | 197.01 | -34.82 | 3.79 | 282.83 | -27.81 | 2.76 | 311.94 | -49.08 | 1.24 | 275.76 | -39.81 | 0.31 | 14.81 | -18.42 | 9.16 | 42.9 | -15.81 | 129.60 | -6.07 | -35.36 | 129.03 | 22.58 | 9.85 | -29.03 | -451.61 | -66.28 | 20.25 | -13.94 | 24.08 |
| 21Q1 (9) | 14.92 | -26.14 | -30.41 | 1.76 | -70.17 | -71.57 | 1.67 | -64.54 | -80.33 | 0.99 | -67.54 | -83.95 | 0.67 | -71.97 | -82.78 | 0.33 | -64.89 | -79.25 | 0.27 | -6.9 | 12.5 | 6.41 | -30.85 | -52.2 | 137.97 | -13.83 | -5.22 | 105.26 | -15.51 | 45.36 | -5.26 | 78.6 | -119.08 | 23.53 | 15.51 | -2.53 |
| 20Q4 (8) | 20.20 | 8.14 | -10.58 | 5.90 | -3.59 | -40.22 | 4.71 | 18.05 | -44.13 | 3.05 | 9.32 | -46.3 | 2.39 | 5.75 | -53.23 | 0.94 | 11.9 | -53.0 | 0.29 | 3.57 | -14.71 | 9.27 | 10.49 | -22.43 | 160.12 | -14.34 | -5.73 | 124.59 | -19.57 | 6.53 | -24.59 | 53.55 | -45.08 | 20.37 | 10.41 | -10.34 |
| 20Q3 (7) | 18.68 | -9.67 | -23.0 | 6.12 | -31.7 | -40.81 | 3.99 | -47.57 | -64.47 | 2.79 | -46.86 | -63.72 | 2.26 | -58.3 | -66.81 | 0.84 | -59.22 | -69.0 | 0.28 | -26.32 | -17.65 | 8.39 | -22.89 | -42.96 | 186.92 | -6.77 | 12.09 | 154.90 | 31.88 | 68.77 | -52.94 | -203.21 | -744.12 | 18.45 | 13.05 | -10.13 |
| 20Q2 (6) | 20.68 | -3.54 | -14.47 | 8.96 | 44.75 | -1.65 | 7.61 | -10.37 | -10.26 | 5.25 | -14.91 | -9.64 | 5.42 | 39.33 | 29.36 | 2.06 | 29.56 | 15.73 | 0.38 | 58.33 | 31.03 | 10.88 | -18.87 | -12.54 | 200.50 | 37.73 | 30.53 | 117.46 | 62.21 | 10.04 | -17.46 | -163.29 | -122.0 | 16.32 | -32.39 | -14.91 |
| 20Q1 (5) | 21.44 | -5.09 | -7.15 | 6.19 | -37.28 | -23.67 | 8.49 | 0.71 | 20.25 | 6.17 | 8.63 | 9.01 | 3.89 | -23.87 | 5.71 | 1.59 | -20.5 | 1.92 | 0.24 | -29.41 | -7.69 | 13.41 | 12.22 | 22.24 | 145.57 | -14.29 | 0.49 | 72.41 | -38.08 | -36.28 | 27.59 | 262.76 | 282.07 | 24.14 | 6.25 | 10.73 |
| 19Q4 (4) | 22.59 | -6.88 | 0.0 | 9.87 | -4.55 | 0.0 | 8.43 | -24.93 | 0.0 | 5.68 | -26.14 | 0.0 | 5.11 | -24.96 | 0.0 | 2.00 | -26.2 | 0.0 | 0.34 | 0.0 | 0.0 | 11.95 | -18.76 | 0.0 | 169.85 | 1.85 | 0.0 | 116.95 | 27.42 | 0.0 | -16.95 | -306.21 | 0.0 | 22.72 | 10.67 | 0.0 |
| 19Q3 (3) | 24.26 | 0.33 | 0.0 | 10.34 | 13.5 | 0.0 | 11.23 | 32.43 | 0.0 | 7.69 | 32.36 | 0.0 | 6.81 | 62.53 | 0.0 | 2.71 | 52.25 | 0.0 | 0.34 | 17.24 | 0.0 | 14.71 | 18.25 | 0.0 | 166.76 | 8.57 | 0.0 | 91.78 | -14.02 | 0.0 | 8.22 | 204.5 | 0.0 | 20.53 | 7.04 | 0.0 |
| 19Q2 (2) | 24.18 | 4.72 | 0.0 | 9.11 | 12.33 | 0.0 | 8.48 | 20.11 | 0.0 | 5.81 | 2.65 | 0.0 | 4.19 | 13.86 | 0.0 | 1.78 | 14.1 | 0.0 | 0.29 | 11.54 | 0.0 | 12.44 | 13.4 | 0.0 | 153.60 | 6.03 | 0.0 | 106.74 | -6.07 | 0.0 | -7.87 | 48.09 | 0.0 | 19.18 | -12.02 | 0.0 |
| 19Q1 (1) | 23.09 | 0.0 | 0.0 | 8.11 | 0.0 | 0.0 | 7.06 | 0.0 | 0.0 | 5.66 | 0.0 | 0.0 | 3.68 | 0.0 | 0.0 | 1.56 | 0.0 | 0.0 | 0.26 | 0.0 | 0.0 | 10.97 | 0.0 | 0.0 | 144.86 | 0.0 | 0.0 | 113.64 | 0.0 | 0.0 | -15.15 | 0.0 | 0.0 | 21.80 | 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) | 20.66 | 8.11 | 6.99 | 15.92 | 2.89 | -21.07 | 8.37 | 4.49 | 6.38 | 8.87 | 12.98 | -13.58 | 6.62 | -8.44 | 1.03 | -14.17 | 11.31 | -4.88 | 102.30 | 11.24 | 83.70 | 10.99 | 16.30 | -33.71 | 0.03 | -53.66 | 15.27 | 4.23 |
| 2022 (9) | 19.11 | 7.72 | 6.03 | 6.16 | 3.66 | -3.2 | 8.01 | 55.84 | 5.86 | 55.44 | 15.02 | 36.05 | 7.23 | 54.82 | 1.20 | 1.69 | 11.89 | 29.52 | 91.96 | -32.44 | 75.41 | -31.78 | 24.59 | 0 | 0.06 | 13.53 | 14.65 | -23.9 |
| 2021 (8) | 17.74 | -12.27 | 5.68 | -18.51 | 3.78 | -1.71 | 5.14 | -16.83 | 3.77 | -11.92 | 11.04 | -19.3 | 4.67 | -14.47 | 1.18 | -2.48 | 9.18 | -11.48 | 136.12 | -14.99 | 110.55 | -2.1 | -10.55 | 0 | 0.05 | -27.5 | 19.25 | -0.57 |
| 2020 (7) | 20.22 | -13.99 | 6.97 | -26.48 | 3.84 | 17.26 | 6.18 | -30.95 | 4.28 | -31.74 | 13.68 | -29.88 | 5.46 | -30.0 | 1.21 | 1.68 | 10.37 | -17.96 | 160.12 | -5.73 | 112.92 | 6.55 | -12.62 | 0 | 0.07 | -40.78 | 19.36 | -8.42 |
| 2019 (6) | 23.51 | 15.64 | 9.48 | 136.41 | 3.28 | 21.92 | 8.95 | 88.42 | 6.27 | 58.33 | 19.51 | 69.8 | 7.80 | 69.2 | 1.19 | 4.39 | 12.64 | 66.32 | 169.85 | 11.06 | 105.98 | 25.04 | -5.98 | 0 | 0.12 | -49.14 | 21.14 | -4.82 |
| 2018 (5) | 20.33 | -11.38 | 4.01 | -6.74 | 2.69 | -10.51 | 4.75 | 174.57 | 3.96 | 244.35 | 11.49 | 241.96 | 4.61 | 199.35 | 1.14 | -4.2 | 7.60 | 52.0 | 152.94 | -4.39 | 84.76 | -65.97 | 15.85 | 0 | 0.23 | 0 | 22.21 | 8.77 |
| 2017 (4) | 22.94 | -5.71 | 4.30 | -33.02 | 3.00 | -2.87 | 1.73 | -77.21 | 1.15 | -82.31 | 3.36 | -80.35 | 1.54 | -79.92 | 1.19 | 2.59 | 5.00 | -54.46 | 159.96 | 19.15 | 249.06 | 193.48 | -149.06 | 0 | 0.00 | 0 | 20.42 | 0.84 |
| 2016 (3) | 24.33 | 5.14 | 6.42 | 20.9 | 3.09 | 14.55 | 7.59 | 18.41 | 6.50 | 25.48 | 17.10 | 41.21 | 7.67 | 25.33 | 1.16 | 0.87 | 10.98 | 16.44 | 134.25 | 12.57 | 84.86 | 2.33 | 15.60 | -8.65 | 0.00 | 0 | 20.25 | -10.28 |
| 2015 (2) | 23.14 | -0.39 | 5.31 | -21.33 | 2.70 | 5.97 | 6.41 | -10.35 | 5.18 | -17.91 | 12.11 | -22.82 | 6.12 | -23.21 | 1.15 | -8.0 | 9.43 | -5.7 | 119.26 | 35.0 | 82.93 | -12.41 | 17.07 | 220.98 | 0.00 | 0 | 22.57 | 7.02 |
| 2014 (1) | 23.23 | 0 | 6.75 | 0 | 2.55 | 13.3 | 7.15 | 0 | 6.31 | 0 | 15.69 | 0 | 7.97 | 0 | 1.25 | -11.97 | 10.00 | 17.23 | 88.34 | -20.75 | 94.68 | -7.51 | 5.32 | 0 | 0.00 | 0 | 21.09 | 0.09 |
