- 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) | 16.72 | -1.3 | 14.29 | 5.93 | 11.47 | 81.9 | 5.81 | -4.13 | 105.3 | 4.22 | -10.97 | 89.24 | 1.66 | -12.17 | 90.8 | 1.22 | -10.95 | 82.09 | 0.28 | 0.0 | 3.7 | 6.94 | -4.14 | 75.25 | 44.14 | 6.72 | 3.37 | 101.92 | 15.73 | -10.38 | -1.92 | -116.12 | 87.74 | 5.76 | -10.42 | -9.72 |
| 23Q3 (19) | 16.94 | 2.11 | 1.99 | 5.32 | 40.74 | -14.88 | 6.06 | 20.72 | -11.79 | 4.74 | 35.43 | -12.87 | 1.89 | 40.0 | -27.59 | 1.37 | 39.8 | -19.88 | 0.28 | 7.69 | -9.68 | 7.24 | 16.03 | -6.22 | 41.36 | -14.86 | -8.23 | 88.07 | 16.97 | -2.79 | 11.93 | -51.73 | 36.7 | 6.43 | -13.81 | 15.03 |
| 23Q2 (18) | 16.59 | 6.96 | -10.61 | 3.78 | 6.48 | -52.63 | 5.02 | 26.13 | -40.66 | 3.50 | 12.9 | -45.65 | 1.35 | 14.41 | -59.7 | 0.98 | 12.64 | -55.05 | 0.26 | 0.0 | -21.21 | 6.24 | 20.7 | -31.88 | 48.58 | 2.04 | -30.21 | 75.29 | -14.83 | -20.35 | 24.71 | 143.53 | 313.82 | 7.46 | 4.78 | 14.77 |
| 23Q1 (17) | 15.51 | 6.02 | -24.08 | 3.55 | 8.9 | -58.53 | 3.98 | 40.64 | -55.63 | 3.10 | 39.01 | -55.14 | 1.18 | 35.63 | -66.85 | 0.87 | 29.85 | -65.48 | 0.26 | -3.7 | -27.78 | 5.17 | 30.56 | -46.31 | 47.61 | 11.5 | 12.34 | 88.41 | -22.26 | -7.67 | 10.14 | 164.67 | 115.07 | 7.12 | 11.6 | -5.19 |
| 22Q4 (16) | 14.63 | -11.92 | -27.5 | 3.26 | -47.84 | -58.79 | 2.83 | -58.81 | -66.35 | 2.23 | -59.01 | -64.99 | 0.87 | -66.67 | -76.42 | 0.67 | -60.82 | -74.23 | 0.27 | -12.9 | -34.15 | 3.96 | -48.7 | -56.1 | 42.70 | -5.26 | 0.23 | 113.73 | 25.52 | 21.15 | -15.69 | -279.79 | -355.81 | 6.38 | 14.13 | -10.77 |
| 22Q3 (15) | 16.61 | -10.51 | -11.37 | 6.25 | -21.68 | -24.88 | 6.87 | -18.79 | -19.18 | 5.44 | -15.53 | -16.69 | 2.61 | -22.09 | -30.4 | 1.71 | -21.56 | -36.67 | 0.31 | -6.06 | -24.39 | 7.72 | -15.72 | -15.07 | 45.07 | -35.25 | 5.82 | 90.60 | -4.15 | -7.64 | 8.72 | 46.14 | 266.44 | 5.59 | -14.0 | -15.81 |
| 22Q2 (14) | 18.56 | -9.15 | -7.15 | 7.98 | -6.78 | -3.39 | 8.46 | -5.69 | -0.7 | 6.44 | -6.8 | -2.13 | 3.35 | -5.9 | -0.89 | 2.18 | -13.49 | -12.45 | 0.33 | -8.33 | -13.16 | 9.16 | -4.88 | -0.87 | 69.61 | 64.25 | 91.97 | 94.53 | -1.28 | -2.39 | 5.97 | 26.57 | 89.05 | 6.50 | -13.45 | -12.52 |
| 22Q1 (13) | 20.43 | 1.24 | 1.39 | 8.56 | 8.22 | 6.47 | 8.97 | 6.66 | 5.16 | 6.91 | 8.48 | 4.38 | 3.56 | -3.52 | 2.3 | 2.52 | -3.08 | -1.18 | 0.36 | -12.2 | -5.26 | 9.63 | 6.76 | 4.45 | 42.38 | -0.52 | 16.05 | 95.75 | 2.01 | 1.67 | 4.72 | -23.08 | -18.95 | 7.51 | 5.03 | -3.47 |
| 21Q4 (12) | 20.18 | 7.68 | 8.38 | 7.91 | -4.93 | 21.13 | 8.41 | -1.06 | 17.46 | 6.37 | -2.45 | 17.74 | 3.69 | -1.6 | 26.8 | 2.60 | -3.7 | 20.93 | 0.41 | 0.0 | 5.13 | 9.02 | -0.77 | 15.05 | 42.60 | 0.02 | 12.34 | 93.87 | -4.31 | 2.46 | 6.13 | 157.55 | -32.11 | 7.15 | 7.68 | -10.4 |
| 21Q3 (11) | 18.74 | -6.25 | 12.42 | 8.32 | 0.73 | 31.23 | 8.50 | -0.23 | 28.98 | 6.53 | -0.76 | 28.04 | 3.75 | 10.95 | 34.89 | 2.70 | 8.43 | 29.19 | 0.41 | 7.89 | 0.0 | 9.09 | -1.62 | 24.52 | 42.59 | 17.46 | 22.42 | 98.10 | 1.29 | 1.78 | 2.38 | -24.6 | -34.29 | 6.64 | -10.63 | 9.57 |
| 21Q2 (10) | 19.99 | -0.79 | 21.22 | 8.26 | 2.74 | 31.53 | 8.52 | -0.12 | 33.75 | 6.58 | -0.6 | 24.39 | 3.38 | -2.87 | 32.03 | 2.49 | -2.35 | 27.04 | 0.38 | 0.0 | 2.7 | 9.24 | 0.22 | 28.87 | 36.26 | -0.71 | 7.53 | 96.84 | 2.83 | -1.52 | 3.16 | -45.74 | 89.47 | 7.43 | -4.5 | 31.04 |
| 21Q1 (9) | 20.15 | 8.22 | 17.49 | 8.04 | 23.12 | 31.59 | 8.53 | 19.13 | 35.4 | 6.62 | 22.37 | 33.2 | 3.48 | 19.59 | 57.47 | 2.55 | 18.6 | 51.79 | 0.38 | -2.56 | 15.15 | 9.22 | 17.6 | 28.95 | 36.52 | -3.69 | 18.07 | 94.18 | 2.8 | -3.2 | 5.82 | -35.56 | 115.34 | 7.78 | -2.51 | 33.22 |
| 20Q4 (8) | 18.62 | 11.7 | 11.03 | 6.53 | 3.0 | 1.08 | 7.16 | 8.65 | 12.58 | 5.41 | 6.08 | 2.85 | 2.91 | 4.68 | 11.07 | 2.15 | 2.87 | 11.4 | 0.39 | -4.88 | 8.33 | 7.84 | 7.4 | 9.5 | 37.92 | 9.0 | 5.19 | 91.61 | -4.94 | -9.85 | 9.03 | 149.29 | 655.48 | 7.98 | 31.68 | 41.99 |
| 20Q3 (7) | 16.67 | 1.09 | -1.42 | 6.34 | 0.96 | -3.5 | 6.59 | 3.45 | 1.7 | 5.10 | -3.59 | 0.99 | 2.78 | 8.59 | 1.83 | 2.09 | 6.63 | 8.85 | 0.41 | 10.81 | 7.89 | 7.30 | 1.81 | 0.83 | 34.79 | 3.17 | -10.1 | 96.38 | -1.99 | -5.04 | 3.62 | 117.39 | 342.75 | 6.06 | 6.88 | 6.32 |
| 20Q2 (6) | 16.49 | -3.85 | -0.54 | 6.28 | 2.78 | -6.82 | 6.37 | 1.11 | -2.6 | 5.29 | 6.44 | 8.4 | 2.56 | 15.84 | 2.4 | 1.96 | 16.67 | 8.29 | 0.37 | 12.12 | 0.0 | 7.17 | 0.28 | -2.32 | 33.72 | 9.02 | -32.0 | 98.33 | 1.06 | -4.54 | 1.67 | -38.33 | 155.42 | 5.67 | -2.91 | 4.42 |
| 20Q1 (5) | 17.15 | 2.27 | -2.78 | 6.11 | -5.42 | 3.74 | 6.30 | -0.94 | 3.96 | 4.97 | -5.51 | 6.65 | 2.21 | -15.65 | 2.31 | 1.68 | -12.95 | 5.66 | 0.33 | -8.33 | 0.0 | 7.15 | -0.14 | 2.29 | 30.93 | -14.2 | -2.98 | 97.30 | -4.26 | 0.16 | 2.70 | 266.22 | -5.41 | 5.84 | 3.91 | 0.52 |
| 19Q4 (4) | 16.77 | -0.83 | 0.0 | 6.46 | -1.67 | 0.0 | 6.36 | -1.85 | 0.0 | 5.26 | 4.16 | 0.0 | 2.62 | -4.03 | 0.0 | 1.93 | 0.52 | 0.0 | 0.36 | -5.26 | 0.0 | 7.16 | -1.1 | 0.0 | 36.05 | -6.85 | 0.0 | 101.63 | 0.13 | 0.0 | -1.63 | -8.94 | 0.0 | 5.62 | -1.4 | 0.0 |
| 19Q3 (3) | 16.91 | 1.99 | 0.0 | 6.57 | -2.52 | 0.0 | 6.48 | -0.92 | 0.0 | 5.05 | 3.48 | 0.0 | 2.73 | 9.2 | 0.0 | 1.92 | 6.08 | 0.0 | 0.38 | 2.7 | 0.0 | 7.24 | -1.36 | 0.0 | 38.70 | -21.96 | 0.0 | 101.49 | -1.47 | 0.0 | -1.49 | 50.37 | 0.0 | 5.70 | 4.97 | 0.0 |
| 19Q2 (2) | 16.58 | -6.01 | 0.0 | 6.74 | 14.43 | 0.0 | 6.54 | 7.92 | 0.0 | 4.88 | 4.72 | 0.0 | 2.50 | 15.74 | 0.0 | 1.81 | 13.84 | 0.0 | 0.37 | 12.12 | 0.0 | 7.34 | 5.01 | 0.0 | 49.59 | 55.55 | 0.0 | 103.01 | 6.04 | 0.0 | -3.01 | -205.26 | 0.0 | 5.43 | -6.54 | 0.0 |
| 19Q1 (1) | 17.64 | 0.0 | 0.0 | 5.89 | 0.0 | 0.0 | 6.06 | 0.0 | 0.0 | 4.66 | 0.0 | 0.0 | 2.16 | 0.0 | 0.0 | 1.59 | 0.0 | 0.0 | 0.33 | 0.0 | 0.0 | 6.99 | 0.0 | 0.0 | 31.88 | 0.0 | 0.0 | 97.14 | 0.0 | 0.0 | 2.86 | 0.0 | 0.0 | 5.81 | 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) | 16.45 | -7.43 | 4.67 | -30.61 | 0.86 | 28.56 | 5.23 | -25.71 | 3.90 | -28.44 | 5.98 | -42.56 | 4.41 | -40.88 | 1.07 | -20.15 | 6.41 | -18.45 | 44.14 | 3.37 | 89.34 | -6.54 | 10.93 | 148.13 | 0.00 | 0 | 6.68 | 2.45 |
| 2022 (9) | 17.77 | -10.03 | 6.73 | -17.22 | 0.67 | 12.26 | 7.04 | -17.08 | 5.45 | -16.41 | 10.41 | -27.2 | 7.46 | -27.15 | 1.34 | -14.1 | 7.86 | -14.0 | 42.70 | 0.23 | 95.60 | -0.17 | 4.40 | 3.77 | 0.00 | 0 | 6.52 | -9.82 |
| 2021 (8) | 19.75 | 14.36 | 8.13 | 28.44 | 0.59 | -13.02 | 8.49 | 28.05 | 6.52 | 25.38 | 14.30 | 40.06 | 10.24 | 36.17 | 1.56 | 9.09 | 9.14 | 23.68 | 42.60 | 12.34 | 95.76 | 0.34 | 4.24 | -7.15 | 0.00 | 0 | 7.23 | 12.27 |
| 2020 (7) | 17.27 | 1.89 | 6.33 | -1.56 | 0.68 | -5.29 | 6.63 | 3.92 | 5.20 | 4.63 | 10.21 | -3.5 | 7.52 | -1.31 | 1.43 | -5.3 | 7.39 | 2.78 | 37.92 | 5.19 | 95.43 | -5.33 | 4.57 | 0 | 0.02 | -6.78 | 6.44 | 14.18 |
| 2019 (6) | 16.95 | -11.95 | 6.43 | -14.95 | 0.72 | 1131.39 | 6.38 | -16.6 | 4.97 | -11.88 | 10.58 | -27.73 | 7.62 | -24.63 | 1.51 | -15.17 | 7.19 | -7.46 | 36.05 | -22.02 | 100.81 | 1.9 | -0.81 | 0 | 0.02 | -7.22 | 5.64 | -10.19 |
| 2018 (5) | 19.25 | 7.6 | 7.56 | 16.67 | 0.06 | -25.18 | 7.65 | 23.19 | 5.64 | 16.77 | 14.64 | 23.54 | 10.11 | 22.99 | 1.78 | 5.33 | 7.77 | 22.94 | 46.23 | 1.52 | 98.93 | -5.25 | 1.07 | 0 | 0.02 | 0 | 6.28 | -0.32 |
| 2017 (4) | 17.89 | 11.19 | 6.48 | 23.19 | 0.08 | -5.71 | 6.21 | 12.5 | 4.83 | 13.65 | 11.85 | 19.58 | 8.22 | 16.93 | 1.69 | 3.05 | 6.32 | 11.86 | 45.54 | 2.11 | 104.41 | 9.62 | -4.41 | 0 | 0.00 | 0 | 6.30 | 3.11 |
| 2016 (3) | 16.09 | -1.59 | 5.26 | -3.66 | 0.08 | -15.72 | 5.52 | 0.0 | 4.25 | -2.3 | 9.91 | 0.81 | 7.03 | -0.71 | 1.64 | 1.23 | 5.65 | 0.0 | 44.60 | 13.0 | 95.25 | -3.77 | 4.75 | 365.5 | 0.00 | 0 | 6.11 | 7.76 |
| 2015 (2) | 16.35 | 3.28 | 5.46 | -4.71 | 0.10 | 23.33 | 5.52 | -7.85 | 4.35 | -4.19 | 9.83 | -11.36 | 7.08 | -11.61 | 1.62 | -7.95 | 5.65 | -7.22 | 39.47 | 1.05 | 98.98 | 3.34 | 1.02 | -75.83 | 0.00 | 0 | 5.67 | 6.78 |
| 2014 (1) | 15.83 | 0 | 5.73 | 0 | 0.08 | -4.84 | 5.99 | 0 | 4.54 | 0 | 11.09 | 0 | 8.01 | 0 | 1.76 | -1.12 | 6.09 | -4.69 | 39.06 | 0.72 | 95.78 | 2.41 | 4.22 | -34.77 | 0.00 | 0 | 5.31 | 3.11 |
