- 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) | 34.43 | -1.23 | 4.18 | 2.69 | 273.61 | 46.2 | 0.04 | -99.15 | -98.33 | -0.09 | -102.42 | -105.63 | -0.03 | -102.83 | -105.77 | 0.00 | -100.0 | -100.0 | 0.23 | 9.52 | -4.17 | 3.63 | -57.24 | -37.31 | 31.17 | -5.69 | -16.34 | 0.00 | -100.0 | -100.0 | 0.00 | -100.0 | -100.0 | 22.59 | -7.95 | 4.78 |
| 23Q3 (19) | 34.86 | 22.1 | 13.7 | 0.72 | -32.08 | -81.77 | 4.70 | 45.51 | -5.62 | 3.72 | 44.75 | -11.85 | 1.06 | 10.42 | -28.38 | 0.80 | 8.11 | -26.61 | 0.21 | -25.0 | -16.0 | 8.49 | 36.94 | 2.54 | 33.05 | -18.35 | -10.63 | 16.67 | -47.62 | -79.33 | 87.50 | 28.33 | 287.5 | 24.54 | 25.91 | 28.08 |
| 23Q2 (18) | 28.55 | -13.48 | -13.01 | 1.06 | 73.77 | -80.87 | 3.23 | 404.69 | -45.53 | 2.57 | 170.53 | -50.77 | 0.96 | 269.23 | -45.76 | 0.74 | 252.38 | -43.94 | 0.28 | 33.33 | 12.0 | 6.20 | 33.62 | -32.24 | 40.48 | 47.25 | 3.98 | 31.82 | -68.18 | -65.29 | 68.18 | 0 | 1127.27 | 19.49 | -24.4 | -4.79 |
| 23Q1 (17) | 33.00 | -0.15 | -1.55 | 0.61 | -66.85 | -89.85 | 0.64 | -73.22 | -89.69 | 0.95 | -40.63 | -78.98 | 0.26 | -50.0 | -81.02 | 0.21 | -47.5 | -80.0 | 0.21 | -12.5 | -8.7 | 4.64 | -19.86 | -52.36 | 27.49 | -26.22 | -9.18 | 100.00 | 27.27 | 3.12 | 0.00 | -100.0 | -100.0 | 25.78 | 19.57 | 24.6 |
| 22Q4 (16) | 33.05 | 7.8 | 1.97 | 1.84 | -53.42 | 289.69 | 2.39 | -52.01 | 359.78 | 1.60 | -62.09 | 390.91 | 0.52 | -64.86 | 347.62 | 0.40 | -63.3 | 433.33 | 0.24 | -4.0 | -4.0 | 5.79 | -30.07 | 131.6 | 37.26 | 0.76 | 12.98 | 78.57 | -2.57 | -21.43 | 21.43 | -5.1 | 0 | 21.56 | 12.53 | -14.34 |
| 22Q3 (15) | 30.66 | -6.58 | 5.83 | 3.95 | -28.7 | -13.76 | 4.98 | -16.02 | 16.08 | 4.22 | -19.16 | 62.93 | 1.48 | -16.38 | -6.33 | 1.09 | -17.42 | 14.74 | 0.25 | 0.0 | -30.56 | 8.28 | -9.51 | 19.31 | 36.98 | -5.01 | -55.06 | 80.65 | -12.02 | -24.4 | 22.58 | 306.45 | 438.71 | 19.16 | -6.4 | 14.32 |
| 22Q2 (14) | 32.82 | -2.09 | -0.45 | 5.54 | -7.82 | 11.47 | 5.93 | -4.51 | 25.11 | 5.22 | 15.49 | 51.74 | 1.77 | 29.2 | 4.12 | 1.32 | 25.71 | 18.92 | 0.25 | 8.7 | -21.88 | 9.15 | -6.06 | 13.1 | 38.93 | 28.61 | -36.01 | 91.67 | -5.47 | -14.88 | 5.56 | 83.33 | 244.44 | 20.47 | -1.06 | -2.85 |
| 22Q1 (13) | 33.52 | 3.42 | -0.77 | 6.01 | 719.59 | 9.47 | 6.21 | 775.0 | 23.21 | 4.52 | 921.82 | 38.65 | 1.37 | 752.38 | -14.91 | 1.05 | 975.0 | -2.78 | 0.23 | -8.0 | -28.12 | 9.74 | 289.6 | 16.51 | 30.27 | -8.22 | -43.07 | 96.97 | -3.03 | -9.49 | 3.03 | 0 | 128.28 | 20.69 | -17.8 | 6.43 |
| 21Q4 (12) | 32.41 | 11.87 | 8.32 | -0.97 | -121.18 | -121.8 | -0.92 | -121.45 | -119.83 | -0.55 | -121.24 | -115.8 | -0.21 | -113.29 | -111.05 | -0.12 | -112.63 | -109.38 | 0.25 | -30.56 | -30.56 | 2.50 | -63.98 | -67.49 | 32.98 | -59.92 | -37.0 | 100.00 | -6.25 | 3.7 | -0.00 | 100.0 | -100.0 | 25.17 | 50.18 | 29.61 |
| 21Q3 (11) | 28.97 | -12.13 | -17.04 | 4.58 | -7.85 | 11.98 | 4.29 | -9.49 | 0.94 | 2.59 | -24.71 | -23.15 | 1.58 | -7.06 | 3.95 | 0.95 | -14.41 | -7.77 | 0.36 | 12.5 | 20.0 | 6.94 | -14.22 | -15.37 | 82.29 | 35.26 | 62.44 | 106.67 | -0.95 | 12.0 | -6.67 | -73.33 | -240.0 | 16.76 | -20.46 | -28.22 |
| 21Q2 (10) | 32.97 | -2.4 | 5.37 | 4.97 | -9.47 | 291.89 | 4.74 | -5.95 | 271.74 | 3.44 | 5.52 | 285.95 | 1.70 | 5.59 | 315.19 | 1.11 | 2.78 | 326.53 | 0.32 | 0.0 | 14.29 | 8.09 | -3.23 | 432.24 | 60.84 | 14.43 | 11.43 | 107.69 | 0.51 | 16.67 | -3.85 | 64.1 | -150.0 | 21.07 | 8.38 | 0 |
| 21Q1 (9) | 33.78 | 12.9 | 2.74 | 5.49 | 23.37 | 258.67 | 5.04 | 8.62 | 241.18 | 3.26 | -6.32 | 225.87 | 1.61 | -15.26 | 250.47 | 1.08 | -15.62 | 261.19 | 0.32 | -11.11 | 18.52 | 8.36 | 8.71 | 839.33 | 53.17 | 1.57 | 2.31 | 107.14 | 11.11 | 7.14 | -10.71 | -400.0 | -271.43 | 19.44 | 0.1 | -27.76 |
| 20Q4 (8) | 29.92 | -14.32 | -0.43 | 4.45 | 8.8 | 19.95 | 4.64 | 9.18 | -1.07 | 3.48 | 3.26 | -5.43 | 1.90 | 25.0 | -6.4 | 1.28 | 24.27 | -3.76 | 0.36 | 20.0 | 2.86 | 7.69 | -6.22 | -5.18 | 52.35 | 3.34 | -7.98 | 96.43 | 1.25 | 22.73 | 3.57 | -25.0 | -83.33 | 19.42 | -16.83 | -3.86 |
| 20Q3 (7) | 34.92 | 11.6 | 4.02 | 4.09 | 257.92 | 51.48 | 4.25 | 253.99 | 55.68 | 3.37 | 282.16 | 54.59 | 1.52 | 292.41 | 44.76 | 1.03 | 310.2 | 45.07 | 0.30 | 7.14 | -6.25 | 8.20 | 439.47 | 26.15 | 50.66 | -7.22 | -6.01 | 95.24 | 3.17 | -4.76 | 4.76 | -38.1 | 0 | 23.35 | 0 | 0.65 |
| 20Q2 (6) | 31.29 | -4.84 | -3.87 | -2.59 | 25.14 | -119.49 | -2.76 | 22.69 | -278.08 | -1.85 | 28.57 | -988.24 | -0.79 | 26.17 | -887.5 | -0.49 | 26.87 | -1125.0 | 0.28 | 3.7 | -9.68 | 1.52 | 70.79 | -49.5 | 54.60 | 5.06 | 7.61 | 92.31 | -7.69 | -38.46 | 7.69 | 23.08 | 115.38 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 32.88 | 9.42 | 2.3 | -3.46 | -193.26 | 38.1 | -3.57 | -176.12 | 27.44 | -2.59 | -170.38 | 26.42 | -1.07 | -152.71 | 24.65 | -0.67 | -150.38 | 34.31 | 0.27 | -22.86 | -6.9 | 0.89 | -89.03 | 201.14 | 51.97 | -8.65 | 31.84 | 100.00 | 27.27 | -12.0 | 6.25 | -70.83 | 145.83 | 26.91 | 33.22 | -4.51 |
| 19Q4 (4) | 30.05 | -10.49 | 0.0 | 3.71 | 37.41 | 0.0 | 4.69 | 71.79 | 0.0 | 3.68 | 68.81 | 0.0 | 2.03 | 93.33 | 0.0 | 1.33 | 87.32 | 0.0 | 0.35 | 9.37 | 0.0 | 8.11 | 24.77 | 0.0 | 56.89 | 5.55 | 0.0 | 78.57 | -21.43 | 0.0 | 21.43 | 0 | 0.0 | 20.20 | -12.93 | 0.0 |
| 19Q3 (3) | 33.57 | 3.13 | 0.0 | 2.70 | 328.81 | 0.0 | 2.73 | 473.97 | 0.0 | 2.18 | 1382.35 | 0.0 | 1.05 | 1412.5 | 0.0 | 0.71 | 1875.0 | 0.0 | 0.32 | 3.23 | 0.0 | 6.50 | 115.95 | 0.0 | 53.90 | 6.23 | 0.0 | 100.00 | -33.33 | 0.0 | 0.00 | 100.0 | 0.0 | 23.20 | -7.01 | 0.0 |
| 19Q2 (2) | 32.55 | 1.28 | 0.0 | -1.18 | 78.89 | 0.0 | -0.73 | 85.16 | 0.0 | -0.17 | 95.17 | 0.0 | -0.08 | 94.37 | 0.0 | -0.04 | 96.08 | 0.0 | 0.31 | 6.9 | 0.0 | 3.01 | 442.05 | 0.0 | 50.74 | 28.72 | 0.0 | 150.00 | 32.0 | 0.0 | -50.00 | -266.67 | 0.0 | 24.95 | -11.46 | 0.0 |
| 19Q1 (1) | 32.14 | 0.0 | 0.0 | -5.59 | 0.0 | 0.0 | -4.92 | 0.0 | 0.0 | -3.52 | 0.0 | 0.0 | -1.42 | 0.0 | 0.0 | -1.02 | 0.0 | 0.0 | 0.29 | 0.0 | 0.0 | -0.88 | 0.0 | 0.0 | 39.42 | 0.0 | 0.0 | 113.64 | 0.0 | 0.0 | -13.64 | 0.0 | 0.0 | 28.18 | 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) | 32.44 | -0.06 | 1.28 | -70.23 | 2.68 | 8.43 | 2.21 | -54.53 | 1.82 | -53.21 | 2.25 | -56.14 | 1.75 | -54.55 | 0.92 | -6.12 | 5.71 | -30.11 | 31.17 | -16.34 | 58.00 | -34.53 | 42.00 | 268.31 | 1.39 | 44.67 | 22.81 | 11.59 |
| 2022 (9) | 32.46 | 1.92 | 4.30 | 20.45 | 2.47 | 11.82 | 4.86 | 45.51 | 3.89 | 76.82 | 5.13 | 40.93 | 3.85 | 44.19 | 0.98 | -16.95 | 8.17 | 24.92 | 37.26 | 12.98 | 88.60 | -16.68 | 11.40 | 0 | 0.96 | -30.49 | 20.44 | 0.2 |
| 2021 (8) | 31.85 | -0.84 | 3.57 | 275.79 | 2.21 | -18.34 | 3.34 | 240.82 | 2.20 | 158.82 | 3.64 | 134.84 | 2.67 | 142.73 | 1.18 | 0.85 | 6.54 | 34.85 | 32.98 | -37.0 | 106.33 | 11.93 | -6.33 | 0 | 1.38 | -38.89 | 20.40 | -13.71 |
| 2020 (7) | 32.12 | 0.41 | 0.95 | 265.38 | 2.70 | 0.29 | 0.98 | 22.5 | 0.85 | 4.94 | 1.55 | 2.65 | 1.10 | 1.85 | 1.17 | -7.14 | 4.85 | 7.3 | 52.35 | -8.03 | 95.00 | 223.0 | 5.00 | -92.27 | 2.26 | -4.78 | 23.64 | -0.8 |
| 2019 (6) | 31.99 | -1.66 | 0.26 | 160.0 | 2.69 | 95.86 | 0.80 | 1500.0 | 0.81 | 35.0 | 1.51 | 39.81 | 1.08 | 38.46 | 1.26 | -0.79 | 4.52 | 80.08 | 56.92 | 43.05 | 29.41 | -85.29 | 64.71 | 0 | 2.37 | 13.17 | 23.83 | -1.89 |
| 2018 (5) | 32.53 | 6.03 | 0.10 | -95.58 | 1.38 | 26.16 | 0.05 | -97.98 | 0.60 | -66.1 | 1.08 | -70.65 | 0.78 | -68.42 | 1.27 | -8.63 | 2.51 | -44.1 | 39.79 | -8.34 | 200.00 | 118.52 | -100.00 | 0 | 2.10 | 0 | 24.29 | 17.63 |
| 2017 (4) | 30.68 | -7.53 | 2.26 | 30.64 | 1.09 | -3.75 | 2.47 | 28.65 | 1.77 | 5.36 | 3.68 | 18.71 | 2.47 | 18.75 | 1.39 | 12.1 | 4.49 | 6.9 | 43.41 | -20.57 | 91.53 | 1.42 | 8.47 | -13.14 | 0.00 | 0 | 20.65 | -7.02 |
| 2016 (3) | 33.18 | -0.12 | 1.73 | -27.62 | 1.13 | -14.17 | 1.92 | -16.88 | 1.68 | 0.0 | 3.10 | 3.33 | 2.08 | -3.26 | 1.24 | -1.59 | 4.20 | -7.69 | 54.65 | 26.71 | 90.24 | -13.44 | 9.76 | 0 | 0.00 | 0 | 22.21 | 0.14 |
| 2015 (2) | 33.22 | 1.13 | 2.39 | 43.98 | 1.32 | -11.9 | 2.31 | 11.06 | 1.68 | -4.0 | 3.00 | 1.01 | 2.15 | 0.94 | 1.26 | 8.62 | 4.55 | 4.84 | 43.13 | 9.33 | 104.26 | 30.32 | -4.26 | 0 | 0.00 | 0 | 22.18 | -2.55 |
| 2014 (1) | 32.85 | 0 | 1.66 | 0 | 1.50 | 1.5 | 2.08 | 0 | 1.75 | 0 | 2.97 | 0 | 2.13 | 0 | 1.16 | 3.57 | 4.34 | 33.13 | 39.45 | -27.6 | 80.00 | 28.89 | 20.00 | -47.27 | 0.00 | 0 | 22.76 | 5.61 |
