- 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) | 14.31 | 7.76 | 21.07 | 6.81 | 5.09 | 50.33 | 5.44 | -15.26 | 1195.24 | 4.07 | -19.25 | 640.0 | 1.08 | -18.8 | 671.43 | 0.58 | -21.62 | 141.67 | 0.10 | 0.0 | 0.0 | 9.11 | -15.1 | 82.93 | 154.78 | 1.36 | -0.42 | 125.40 | 24.16 | -88.44 | -25.40 | -2440.05 | 97.42 | 9.62 | -1.13 | 2.67 |
| 23Q3 (19) | 13.28 | -13.2 | 0.0 | 6.48 | -26.94 | -19.3 | 6.42 | -9.19 | -15.08 | 5.04 | -16.28 | -24.32 | 1.33 | -21.76 | -6.34 | 0.74 | -14.94 | 2.78 | 0.10 | -9.09 | 11.11 | 10.73 | -3.33 | -5.3 | 152.70 | 0.13 | -0.15 | 101.00 | -19.4 | -4.87 | -1.00 | 96.08 | 83.79 | 9.73 | 9.82 | -2.6 |
| 23Q2 (18) | 15.30 | 20.0 | -13.22 | 8.87 | 47.34 | -27.35 | 7.07 | 134.88 | -39.47 | 6.02 | 225.41 | -45.52 | 1.70 | 295.35 | -46.88 | 0.87 | 107.14 | -37.86 | 0.11 | 22.22 | -8.33 | 11.10 | 30.59 | -21.78 | 152.50 | -2.72 | 7.8 | 125.31 | -37.5 | 19.95 | -25.48 | 74.65 | -470.63 | 8.86 | -19.31 | 24.96 |
| 23Q1 (17) | 12.75 | 7.87 | -31.6 | 6.02 | 32.89 | -57.06 | 3.01 | 616.67 | -77.7 | 1.85 | 236.36 | -84.84 | 0.43 | 207.14 | -90.21 | 0.42 | 75.0 | -77.17 | 0.09 | -10.0 | -35.71 | 8.50 | 70.68 | -46.71 | 156.76 | 0.86 | 2.49 | 200.50 | -81.51 | 93.08 | -100.50 | 89.79 | -2465.59 | 10.98 | 17.18 | 91.29 |
| 22Q4 (16) | 11.82 | -10.99 | -26.49 | 4.53 | -43.59 | -54.7 | 0.42 | -94.44 | -95.72 | 0.55 | -91.74 | -93.66 | 0.14 | -90.14 | -95.38 | 0.24 | -66.67 | -81.4 | 0.10 | 11.11 | -28.57 | 4.98 | -56.05 | -58.81 | 155.43 | 1.63 | 1.32 | 1084.38 | 921.36 | 962.8 | -984.38 | -15853.66 | -51087.5 | 9.37 | -6.21 | 50.4 |
| 22Q3 (15) | 13.28 | -24.67 | 17.42 | 8.03 | -34.23 | 49.26 | 7.56 | -35.27 | 41.04 | 6.66 | -39.73 | 80.98 | 1.42 | -55.62 | 94.52 | 0.72 | -48.57 | 105.71 | 0.09 | -25.0 | 12.5 | 11.33 | -20.16 | 41.1 | 152.93 | 8.1 | -3.12 | 106.17 | 1.63 | 5.8 | -6.17 | -38.18 | -1670.85 | 9.99 | 40.9 | -1.67 |
| 22Q2 (14) | 17.63 | -5.42 | 30.3 | 12.21 | -12.91 | 63.02 | 11.68 | -13.48 | 63.13 | 11.05 | -9.43 | 82.64 | 3.20 | -27.11 | 153.97 | 1.40 | -23.91 | 159.26 | 0.12 | -14.29 | 50.0 | 14.19 | -11.03 | 48.28 | 141.47 | -7.51 | -9.31 | 104.47 | 0.6 | -0.02 | -4.47 | -13.99 | 0.52 | 7.09 | 23.52 | -27.95 |
| 22Q1 (13) | 18.64 | 15.92 | 19.18 | 14.02 | 40.2 | 38.67 | 13.50 | 37.61 | 52.54 | 12.20 | 40.72 | 53.85 | 4.39 | 44.88 | 133.51 | 1.84 | 42.64 | 130.0 | 0.14 | 0.0 | 55.56 | 15.95 | 31.93 | 43.69 | 152.95 | -0.29 | -5.1 | 103.84 | 1.78 | -9.1 | -3.92 | -103.7 | 72.48 | 5.74 | -7.87 | -29.48 |
| 21Q4 (12) | 16.08 | 42.18 | 10.59 | 10.00 | 85.87 | 40.85 | 9.81 | 83.02 | 42.38 | 8.67 | 135.6 | 44.98 | 3.03 | 315.07 | 92.99 | 1.29 | 268.57 | 86.96 | 0.14 | 75.0 | 27.27 | 12.09 | 50.56 | 36.92 | 153.40 | -2.82 | 2.64 | 102.03 | 1.68 | -1.03 | -1.92 | -451.92 | 37.82 | 6.23 | -38.68 | -19.72 |
| 21Q3 (11) | 11.31 | -16.41 | -21.07 | 5.38 | -28.17 | -36.85 | 5.36 | -25.14 | -33.58 | 3.68 | -39.17 | -50.14 | 0.73 | -42.06 | -54.38 | 0.35 | -35.19 | -50.0 | 0.08 | 0.0 | -11.11 | 8.03 | -16.09 | -20.42 | 157.85 | 1.19 | 4.49 | 100.35 | -3.96 | -5.01 | -0.35 | 92.24 | 93.82 | 10.16 | 3.25 | 20.81 |
| 21Q2 (10) | 13.53 | -13.49 | -13.38 | 7.49 | -25.91 | 5.2 | 7.16 | -19.1 | -10.05 | 6.05 | -23.71 | -33.88 | 1.26 | -32.98 | -22.22 | 0.54 | -32.5 | -23.94 | 0.08 | -11.11 | 14.29 | 9.57 | -13.78 | -14.02 | 156.00 | -3.21 | 0.98 | 104.49 | -8.53 | 16.95 | -4.49 | 68.47 | -142.13 | 9.84 | 20.88 | -14.66 |
| 21Q1 (9) | 15.64 | 7.57 | -7.18 | 10.11 | 42.39 | -2.03 | 8.85 | 28.45 | -6.05 | 7.93 | 32.61 | -6.92 | 1.88 | 19.75 | 31.47 | 0.80 | 15.94 | 25.0 | 0.09 | -18.18 | 28.57 | 11.10 | 25.71 | -9.31 | 161.17 | 7.83 | 6.55 | 114.23 | 10.81 | 4.29 | -14.23 | -360.26 | -49.28 | 8.14 | 4.9 | -30.55 |
| 20Q4 (8) | 14.54 | 1.47 | 20.46 | 7.10 | -16.67 | 41.15 | 6.89 | -14.62 | 1200.0 | 5.98 | -18.97 | 334.51 | 1.57 | -1.88 | 385.45 | 0.69 | -1.43 | 560.0 | 0.11 | 22.22 | 22.22 | 8.83 | -12.49 | 134.22 | 149.46 | -1.06 | 1.47 | 103.09 | -2.41 | -88.99 | -3.09 | 45.16 | 99.63 | 7.76 | -7.73 | -17.62 |
| 20Q3 (7) | 14.33 | -8.26 | 46.82 | 8.52 | 19.66 | 158.97 | 8.07 | 1.38 | 184.95 | 7.38 | -19.34 | 173.73 | 1.60 | -1.23 | 182.05 | 0.70 | -1.41 | 198.59 | 0.09 | 28.57 | 12.5 | 10.09 | -9.34 | 243.12 | 151.06 | -2.22 | 1.3 | 105.64 | 18.24 | 404.34 | -5.64 | -152.93 | -104.19 | 8.41 | -27.06 | -21.48 |
| 20Q2 (6) | 15.62 | -7.3 | 24.76 | 7.12 | -31.01 | 0.14 | 7.96 | -15.5 | 43.94 | 9.15 | 7.39 | 348.53 | 1.62 | 13.29 | 200.0 | 0.71 | 10.94 | 144.83 | 0.07 | 0.0 | -36.36 | 11.13 | -9.07 | 48.01 | 154.49 | 2.14 | 5.46 | 89.34 | -18.43 | -30.39 | 10.66 | 211.75 | 137.25 | 11.53 | -1.62 | 47.44 |
| 20Q1 (5) | 16.85 | 39.6 | 22.72 | 10.32 | 105.17 | 35.61 | 9.42 | 1677.36 | -32.13 | 8.52 | 434.12 | -36.04 | 1.43 | 360.0 | -43.25 | 0.64 | 526.67 | -39.62 | 0.07 | -22.22 | 0.0 | 12.24 | 224.67 | -25.27 | 151.26 | 2.7 | -1.1 | 109.54 | -88.31 | 99.95 | -9.54 | 98.86 | -121.09 | 11.72 | 24.42 | 6.84 |
| 19Q4 (4) | 12.07 | 23.67 | 0.0 | 5.03 | 52.89 | 0.0 | 0.53 | 105.58 | 0.0 | -2.55 | 74.53 | 0.0 | -0.55 | 71.79 | 0.0 | -0.15 | 78.87 | 0.0 | 0.09 | 12.5 | 0.0 | 3.77 | 153.48 | 0.0 | 147.29 | -1.23 | 0.0 | 936.67 | 2798.49 | 0.0 | -836.67 | -721.08 | 0.0 | 9.42 | -12.04 | 0.0 |
| 19Q3 (3) | 9.76 | -22.04 | 0.0 | 3.29 | -53.73 | 0.0 | -9.50 | -271.79 | 0.0 | -10.01 | -590.69 | 0.0 | -1.95 | -461.11 | 0.0 | -0.71 | -344.83 | 0.0 | 0.08 | -27.27 | 0.0 | -7.05 | -193.75 | 0.0 | 149.12 | 1.8 | 0.0 | -34.71 | -127.04 | 0.0 | 134.71 | 570.88 | 0.0 | 10.71 | 36.96 | 0.0 |
| 19Q2 (2) | 12.52 | -8.81 | 0.0 | 7.11 | -6.57 | 0.0 | 5.53 | -60.16 | 0.0 | 2.04 | -84.68 | 0.0 | 0.54 | -78.57 | 0.0 | 0.29 | -72.64 | 0.0 | 0.11 | 57.14 | 0.0 | 7.52 | -54.09 | 0.0 | 146.49 | -4.22 | 0.0 | 128.35 | 134.29 | 0.0 | -28.61 | -163.27 | 0.0 | 7.82 | -28.71 | 0.0 |
| 19Q1 (1) | 13.73 | 0.0 | 0.0 | 7.61 | 0.0 | 0.0 | 13.88 | 0.0 | 0.0 | 13.32 | 0.0 | 0.0 | 2.52 | 0.0 | 0.0 | 1.06 | 0.0 | 0.0 | 0.07 | 0.0 | 0.0 | 16.38 | 0.0 | 0.0 | 152.95 | 0.0 | 0.0 | 54.78 | 0.0 | 0.0 | 45.22 | 0.0 | 0.0 | 10.97 | 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) | 13.97 | -11.13 | 7.10 | -29.91 | 1.58 | 5.9 | 5.59 | -36.26 | 4.35 | -45.96 | 4.42 | -51.21 | 2.54 | -38.05 | 0.40 | -9.09 | 9.92 | -17.26 | 154.78 | -0.42 | 127.08 | 9.91 | -27.02 | 0 | 2.30 | 56.0 | 9.74 | 25.35 |
| 2022 (9) | 15.72 | 8.49 | 10.13 | 18.07 | 1.50 | 21.35 | 8.77 | 7.74 | 8.05 | 15.66 | 9.06 | 32.65 | 4.10 | 36.67 | 0.44 | 12.82 | 11.99 | 13.97 | 155.43 | 1.32 | 115.61 | 9.74 | -15.61 | 0 | 1.47 | -6.46 | 7.77 | -5.47 |
| 2021 (8) | 14.49 | -4.55 | 8.58 | 5.67 | 1.23 | 7.84 | 8.14 | 2.65 | 6.96 | -7.57 | 6.83 | 9.98 | 3.00 | 8.7 | 0.39 | 18.18 | 10.52 | 1.84 | 153.40 | 2.64 | 105.35 | 2.9 | -5.35 | 0 | 1.57 | -6.95 | 8.22 | -13.66 |
| 2020 (7) | 15.18 | 25.87 | 8.12 | 38.8 | 1.14 | -2.57 | 7.93 | 188.36 | 7.53 | 1023.88 | 6.21 | 952.54 | 2.76 | 420.75 | 0.33 | -5.71 | 10.33 | 96.39 | 149.46 | 1.47 | 102.38 | -51.86 | -2.38 | 0 | 1.69 | -6.52 | 9.52 | -0.31 |
| 2019 (6) | 12.06 | -18.57 | 5.85 | -37.37 | 1.17 | 67.73 | 2.75 | -67.99 | 0.67 | -91.65 | 0.59 | -92.78 | 0.53 | -83.94 | 0.35 | -7.89 | 5.26 | -48.68 | 147.29 | -7.63 | 212.68 | 95.67 | -112.68 | 0 | 1.81 | 4.8 | 9.55 | 10.92 |
| 2018 (5) | 14.81 | 78.86 | 9.34 | 127.25 | 0.70 | -28.04 | 8.59 | 173.57 | 8.02 | 181.4 | 8.17 | 134.77 | 3.30 | 115.69 | 0.38 | -17.39 | 10.25 | 111.78 | 159.46 | -8.63 | 108.70 | -16.92 | -8.70 | 0 | 1.73 | 0 | 8.61 | 5.13 |
| 2017 (4) | 8.28 | 27.38 | 4.11 | 216.15 | 0.97 | -61.27 | 3.14 | 43.38 | 2.85 | 41.09 | 3.48 | 56.05 | 1.53 | 40.37 | 0.46 | 9.52 | 4.84 | -11.84 | 174.53 | 9.06 | 130.83 | 120.37 | -30.94 | 0 | 0.00 | 0 | 8.19 | -22.95 |
| 2016 (3) | 6.50 | 32.92 | 1.30 | 0 | 2.51 | 71.92 | 2.19 | -30.48 | 2.02 | -22.61 | 2.23 | -19.2 | 1.09 | -16.79 | 0.42 | 7.69 | 5.49 | -2.66 | 160.03 | -3.57 | 59.37 | 0 | 40.63 | -69.5 | 0.00 | 0 | 10.63 | -7.24 |
| 2015 (2) | 4.89 | -58.52 | -1.04 | 0 | 1.46 | -6.09 | 3.15 | 0 | 2.61 | 0 | 2.76 | 0 | 1.31 | 0 | 0.39 | -2.5 | 5.64 | 0 | 165.95 | -10.48 | -33.09 | 0 | 133.24 | -41.6 | 0.00 | 0 | 11.46 | 25.66 |
| 2014 (1) | 11.79 | 0 | 4.70 | 0 | 1.55 | -27.7 | -3.67 | 0 | -4.35 | 0 | -4.99 | 0 | -1.40 | 0 | 0.40 | 21.21 | -1.04 | 0 | 185.38 | -1.95 | -128.16 | 0 | 228.16 | 987.6 | 0.00 | 0 | 9.12 | -4.1 |
