- 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) | 18.28 | -0.76 | -15.53 | 2.30 | 2.68 | -57.33 | -2.88 | -142.79 | -323.53 | -2.49 | -146.11 | -329.31 | -1.06 | -140.46 | -292.59 | -0.62 | -138.27 | -6100.0 | 0.26 | -10.34 | 13.04 | -1.54 | -118.87 | -205.48 | 57.13 | -10.54 | -33.17 | -75.00 | -350.0 | 89.29 | 175.00 | 150.0 | -78.12 | 14.20 | -18.3 | -12.24 |
| 23Q3 (19) | 18.42 | 12.52 | 4.24 | 2.24 | -37.95 | -53.62 | 6.73 | 13.11 | -38.98 | 5.40 | 16.63 | -38.78 | 2.62 | -17.09 | -58.15 | 1.62 | -13.37 | -47.74 | 0.29 | -25.64 | -14.71 | 8.16 | 18.26 | -33.39 | 63.86 | -14.35 | -43.7 | 30.00 | -48.57 | -34.0 | 70.00 | 68.0 | 18.46 | 17.38 | 36.53 | 28.17 |
| 23Q2 (18) | 16.37 | 1.93 | 2.5 | 3.61 | 121.47 | -22.2 | 5.95 | 815.38 | -28.4 | 4.63 | 773.58 | -21.92 | 3.16 | 1115.38 | -30.55 | 1.87 | 679.17 | -16.89 | 0.39 | 44.44 | 5.41 | 6.90 | 239.9 | -27.52 | 74.56 | -6.21 | -25.31 | 58.33 | -70.83 | -0.83 | 41.67 | 141.67 | -11.46 | 12.73 | -17.12 | 6.71 |
| 23Q1 (17) | 16.06 | -25.79 | 4.69 | 1.63 | -69.76 | -57.77 | 0.65 | 195.59 | -89.53 | 0.53 | 191.38 | -89.36 | 0.26 | 196.3 | -93.58 | 0.24 | 2500.0 | -87.69 | 0.27 | 17.39 | -28.95 | 2.03 | 39.04 | -70.92 | 79.50 | -7.0 | -33.78 | 200.00 | 128.57 | 225.0 | -100.00 | -112.5 | -360.0 | 15.36 | -5.07 | 26.52 |
| 22Q4 (16) | 21.64 | 22.47 | 29.97 | 5.39 | 11.59 | 5.48 | -0.68 | -106.17 | -114.11 | -0.58 | -106.58 | -115.59 | -0.27 | -104.31 | -108.77 | -0.01 | -100.32 | -100.66 | 0.23 | -32.35 | -41.03 | 1.46 | -88.08 | -74.34 | 85.48 | -24.64 | -20.82 | -700.00 | -1640.0 | -736.36 | 800.00 | 1253.85 | 8100.0 | 16.18 | 19.32 | 44.72 |
| 22Q3 (15) | 17.67 | 10.64 | 16.17 | 4.83 | 4.09 | 22.59 | 11.03 | 32.73 | 150.68 | 8.82 | 48.74 | 150.57 | 6.26 | 37.58 | 121.99 | 3.10 | 37.78 | 138.46 | 0.34 | -8.11 | -2.86 | 12.25 | 28.68 | 119.53 | 113.43 | 13.62 | -3.61 | 45.45 | -22.73 | -48.86 | 59.09 | 25.57 | 431.82 | 13.56 | 13.66 | 18.74 |
| 22Q2 (14) | 15.97 | 4.11 | 11.52 | 4.64 | 20.21 | 70.59 | 8.31 | 33.82 | 622.61 | 5.93 | 19.08 | 524.21 | 4.55 | 12.35 | 435.29 | 2.25 | 15.38 | 411.36 | 0.37 | -2.63 | -5.13 | 9.52 | 36.39 | 420.22 | 99.83 | -16.85 | -29.81 | 58.82 | -4.41 | -70.59 | 47.06 | 22.35 | 147.06 | 11.93 | -1.73 | 10.26 |
| 22Q1 (13) | 15.34 | -7.87 | 9.42 | 3.86 | -24.46 | 150.65 | 6.21 | 28.84 | 381.4 | 4.98 | 33.87 | 383.5 | 4.05 | 31.49 | 447.3 | 1.95 | 28.29 | 375.61 | 0.38 | -2.56 | 15.15 | 6.98 | 22.67 | 202.16 | 120.06 | 11.22 | 1.46 | 61.54 | -44.06 | -58.97 | 38.46 | 484.62 | 0 | 12.14 | 8.59 | -6.4 |
| 21Q4 (12) | 16.65 | 9.47 | 25.85 | 5.11 | 29.7 | 555.13 | 4.82 | 9.55 | 619.4 | 3.72 | 5.68 | 490.48 | 3.08 | 9.22 | 584.44 | 1.52 | 16.92 | 442.86 | 0.39 | 11.43 | 11.43 | 5.69 | 1.97 | 382.2 | 107.95 | -8.27 | -5.4 | 110.00 | 23.75 | 10.0 | -10.00 | -190.0 | 0 | 11.18 | -2.1 | -16.19 |
| 21Q3 (11) | 15.21 | 6.22 | 8.18 | 3.94 | 44.85 | 206.2 | 4.40 | 282.61 | 186.96 | 3.52 | 270.53 | 169.57 | 2.82 | 231.76 | 209.3 | 1.30 | 195.45 | 197.74 | 0.35 | -10.26 | 29.63 | 5.58 | 204.92 | 237.1 | 117.68 | -17.26 | 35.72 | 88.89 | -55.56 | 6.67 | 11.11 | 111.11 | -66.67 | 11.42 | 5.55 | -25.7 |
| 21Q2 (10) | 14.32 | 2.14 | -2.05 | 2.72 | 76.62 | 148.57 | 1.15 | -10.85 | 170.55 | 0.95 | -7.77 | 126.99 | 0.85 | 14.86 | 158.62 | 0.44 | 7.32 | 161.97 | 0.39 | 18.18 | 77.27 | 1.83 | -20.78 | 0 | 142.23 | 20.2 | 65.23 | 200.00 | 33.33 | -33.33 | -100.00 | 0 | 50.0 | 10.82 | -16.58 | -39.92 |
| 21Q1 (9) | 14.02 | 5.97 | -6.53 | 1.54 | 97.44 | 162.86 | 1.29 | 92.54 | 219.44 | 1.03 | 63.49 | 195.37 | 0.74 | 64.44 | 237.04 | 0.41 | 46.43 | 305.0 | 0.33 | -5.71 | 32.0 | 2.31 | 95.76 | 0 | 118.33 | 3.7 | 32.52 | 150.00 | 50.0 | -50.0 | 0.00 | 0 | 100.0 | 12.97 | -2.77 | 0 |
| 20Q4 (8) | 13.23 | -5.9 | -24.96 | 0.78 | 121.02 | -85.82 | 0.67 | 113.24 | -68.25 | 0.63 | 112.45 | -63.58 | 0.45 | 117.44 | -63.71 | 0.28 | 121.05 | -59.42 | 0.35 | 29.63 | -2.78 | 1.18 | 128.99 | -64.02 | 114.11 | 31.6 | 15.4 | 100.00 | 20.0 | -60.0 | 0.00 | -100.0 | 100.0 | 13.34 | -13.21 | 8.37 |
| 20Q3 (7) | 14.06 | -3.83 | -22.87 | -3.71 | 33.75 | -237.41 | -5.06 | -210.43 | -303.21 | -5.06 | -43.75 | -354.27 | -2.58 | -77.93 | -308.06 | -1.33 | -87.32 | -292.75 | 0.27 | 22.73 | -12.9 | -4.07 | 0 | -206.54 | 86.71 | 0.73 | -13.96 | 83.33 | -72.22 | -16.67 | 33.33 | 116.67 | 0 | 15.37 | -14.66 | 12.6 |
| 20Q2 (6) | 14.62 | -2.53 | -12.03 | -5.60 | -128.57 | -289.83 | -1.63 | -50.93 | -140.65 | -3.52 | -225.93 | -208.98 | -1.45 | -168.52 | -164.16 | -0.71 | -255.0 | -159.66 | 0.22 | -12.0 | -35.29 | -0.00 | 0 | -100.0 | 86.08 | -3.6 | -16.79 | 300.00 | 0.0 | 320.0 | -200.00 | 0.0 | -800.0 | 18.01 | 0 | 38.97 |
| 20Q1 (5) | 15.00 | -14.92 | -16.06 | -2.45 | -144.55 | -148.9 | -1.08 | -151.18 | -121.91 | -1.08 | -162.43 | -127.48 | -0.54 | -143.55 | -119.15 | -0.20 | -128.99 | -113.99 | 0.25 | -30.56 | -26.47 | 0.00 | -100.0 | -100.0 | 89.29 | -9.7 | -15.41 | 300.00 | 20.0 | 200.0 | -200.00 | -33.33 | 0 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 17.63 | -3.29 | 0.0 | 5.50 | 103.7 | 0.0 | 2.11 | -15.26 | 0.0 | 1.73 | -13.07 | 0.0 | 1.24 | 0.0 | 0.0 | 0.69 | 0.0 | 0.0 | 0.36 | 16.13 | 0.0 | 3.28 | -14.14 | 0.0 | 98.88 | -1.89 | 0.0 | 250.00 | 150.0 | 0.0 | -150.00 | 0 | 0.0 | 12.31 | -9.82 | 0.0 |
| 19Q3 (3) | 18.23 | 9.69 | 0.0 | 2.70 | -8.47 | 0.0 | 2.49 | -37.91 | 0.0 | 1.99 | -38.39 | 0.0 | 1.24 | -45.13 | 0.0 | 0.69 | -42.02 | 0.0 | 0.31 | -8.82 | 0.0 | 3.82 | -25.68 | 0.0 | 100.78 | -2.58 | 0.0 | 100.00 | 40.0 | 0.0 | -0.00 | -100.0 | 0.0 | 13.65 | 5.32 | 0.0 |
| 19Q2 (2) | 16.62 | -6.99 | 0.0 | 2.95 | -41.12 | 0.0 | 4.01 | -18.66 | 0.0 | 3.23 | -17.81 | 0.0 | 2.26 | -19.86 | 0.0 | 1.19 | -16.78 | 0.0 | 0.34 | 0.0 | 0.0 | 5.14 | -16.83 | 0.0 | 103.45 | -1.99 | 0.0 | 71.43 | -28.57 | 0.0 | 28.57 | 0 | 0.0 | 12.96 | -0.15 | 0.0 |
| 19Q1 (1) | 17.87 | 0.0 | 0.0 | 5.01 | 0.0 | 0.0 | 4.93 | 0.0 | 0.0 | 3.93 | 0.0 | 0.0 | 2.82 | 0.0 | 0.0 | 1.43 | 0.0 | 0.0 | 0.34 | 0.0 | 0.0 | 6.18 | 0.0 | 0.0 | 105.55 | 0.0 | 0.0 | 100.00 | 0.0 | 0.0 | -0.00 | 0.0 | 0.0 | 12.98 | 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) | 17.17 | -0.52 | 2.55 | -44.69 | 0.96 | 21.82 | 3.06 | -55.26 | 2.37 | -55.03 | 4.97 | -65.75 | 3.21 | -58.74 | 1.22 | -12.86 | 4.46 | -44.04 | 57.13 | -33.17 | 84.21 | 25.11 | 15.79 | -51.7 | 0.21 | 15.3 | 14.74 | 11.84 |
| 2022 (9) | 17.26 | 14.38 | 4.61 | 35.59 | 0.78 | 25.33 | 6.84 | 131.86 | 5.27 | 126.18 | 14.51 | 93.98 | 7.78 | 103.13 | 1.40 | -7.89 | 7.97 | 105.41 | 85.48 | -20.82 | 67.31 | -40.17 | 32.69 | 0 | 0.18 | -2.0 | 13.18 | 14.31 |
| 2021 (8) | 15.09 | 6.79 | 3.40 | 0 | 0.63 | -18.34 | 2.95 | 0 | 2.33 | 0 | 7.48 | 0 | 3.83 | 0 | 1.52 | 49.02 | 3.88 | 0 | 107.95 | -5.4 | 112.50 | -25.0 | -16.67 | 0 | 0.19 | 0 | 11.53 | -27.58 |
| 2020 (7) | 14.13 | -19.58 | -2.32 | 0 | 0.77 | 32.95 | -1.56 | 0 | -1.95 | 0 | -4.09 | 0 | -1.75 | 0 | 1.02 | -23.88 | -0.57 | 0 | 114.11 | 15.4 | 150.00 | 28.57 | -50.00 | 0 | 0.00 | 0 | 15.92 | 22.93 |
| 2019 (6) | 17.57 | 26.77 | 4.09 | 3046.15 | 0.58 | 5.76 | 3.40 | 347.37 | 2.73 | 170.3 | 7.56 | 144.66 | 3.98 | 113.98 | 1.34 | -2.19 | 4.32 | 144.07 | 98.88 | -12.8 | 116.67 | 600.0 | -20.83 | 0 | 0.20 | 2.15 | 12.95 | 11.93 |
| 2018 (5) | 13.86 | -9.23 | 0.13 | -93.01 | 0.54 | -25.99 | 0.76 | 375.0 | 1.01 | 573.33 | 3.09 | 653.66 | 1.86 | 195.24 | 1.37 | 1.48 | 1.77 | 33.08 | 113.40 | -13.47 | 16.67 | -98.72 | 83.33 | 0 | 0.19 | 0 | 11.57 | -5.55 |
| 2017 (4) | 15.27 | -10.81 | 1.86 | -52.43 | 0.74 | 5.3 | 0.16 | -95.45 | 0.15 | -94.83 | 0.41 | -95.18 | 0.63 | -86.71 | 1.35 | -10.0 | 1.33 | -72.06 | 131.05 | 55.96 | 1300.00 | 1060.71 | -1100.00 | 0 | 0.00 | 0 | 12.25 | 2.0 |
| 2016 (3) | 17.12 | 17.99 | 3.91 | 74.55 | 0.70 | -29.97 | 3.52 | 22.22 | 2.90 | 25.0 | 8.50 | 20.23 | 4.74 | 24.74 | 1.50 | 4.9 | 4.76 | 4.39 | 84.03 | -21.29 | 112.00 | 40.0 | -12.00 | 0 | 0.00 | 0 | 12.01 | 9.78 |
| 2015 (2) | 14.51 | 4.09 | 2.24 | 65.93 | 1.00 | -22.0 | 2.88 | 26.32 | 2.32 | 44.1 | 7.07 | 36.22 | 3.80 | 28.38 | 1.43 | -0.69 | 4.56 | 10.41 | 106.76 | -11.31 | 80.00 | 28.0 | 20.00 | -54.29 | 0.00 | 0 | 10.94 | 0.0 |
| 2014 (1) | 13.94 | 0 | 1.35 | 0 | 1.28 | 6.54 | 2.28 | 0 | 1.61 | 0 | 5.19 | 0 | 2.96 | 0 | 1.44 | 0.7 | 4.13 | 81.94 | 120.37 | -5.11 | 62.50 | 25.0 | 43.75 | -12.5 | 0.00 | 0 | 10.94 | 11.75 |
