- 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) | 5.41 | 2.46 | 32.27 | 0.96 | 0.0 | 118.18 | 0.90 | 23.29 | 100.0 | 0.57 | 42.5 | 39.02 | 1.50 | 47.06 | 38.89 | 0.71 | 39.22 | 24.56 | 0.66 | 8.2 | -2.94 | 2.03 | 14.69 | 41.96 | 269.67 | -16.82 | -4.59 | 106.00 | -21.02 | 6.0 | -6.00 | 82.46 | -250.0 | 2.51 | -1.18 | 17.29 |
| 23Q3 (19) | 5.28 | 3.33 | 3.33 | 0.96 | -11.11 | -4.0 | 0.73 | -28.43 | -10.98 | 0.40 | -25.93 | -33.33 | 1.02 | -27.14 | -30.61 | 0.51 | -15.0 | -1.92 | 0.61 | -8.96 | -3.17 | 1.77 | -8.76 | 16.45 | 324.20 | 4.63 | 7.78 | 134.21 | 27.27 | 10.53 | -34.21 | -527.19 | -59.65 | 2.54 | 6.72 | 0.0 |
| 23Q2 (18) | 5.11 | -6.24 | -5.55 | 1.08 | -2.7 | -0.92 | 1.02 | 0.0 | 37.84 | 0.54 | -31.65 | 68.75 | 1.40 | -26.32 | 89.19 | 0.60 | -20.0 | 100.0 | 0.67 | 3.08 | 0.0 | 1.94 | -2.02 | 44.78 | 309.84 | 18.25 | 10.58 | 105.45 | -3.8 | -29.02 | -5.45 | 43.27 | 88.77 | 2.38 | -12.5 | -3.25 |
| 23Q1 (17) | 5.45 | 33.25 | -20.78 | 1.11 | 152.27 | -59.34 | 1.02 | 126.67 | -64.58 | 0.79 | 92.68 | -64.09 | 1.90 | 75.93 | -63.53 | 0.75 | 31.58 | -56.14 | 0.65 | -4.41 | -13.33 | 1.98 | 38.46 | -41.59 | 262.03 | -7.3 | 29.37 | 109.62 | 9.62 | 16.16 | -9.62 | -340.38 | -270.67 | 2.72 | 27.1 | 0.37 |
| 22Q4 (16) | 4.09 | -19.96 | -11.28 | 0.44 | -56.0 | -54.64 | 0.45 | -45.12 | -73.05 | 0.41 | -31.67 | -65.83 | 1.08 | -26.53 | -65.71 | 0.57 | 9.62 | -46.73 | 0.68 | 7.94 | -19.05 | 1.43 | -5.92 | -34.7 | 282.65 | -6.04 | 25.52 | 100.00 | -17.65 | 72.0 | 4.00 | 118.67 | -90.44 | 2.14 | -15.75 | 0.47 |
| 22Q3 (15) | 5.11 | -5.55 | -29.61 | 1.00 | -8.26 | -64.66 | 0.82 | 10.81 | -69.74 | 0.60 | 87.5 | -70.3 | 1.47 | 98.65 | -74.21 | 0.52 | 73.33 | -70.29 | 0.63 | -5.97 | -25.0 | 1.52 | 13.43 | -52.94 | 300.81 | 7.36 | 49.73 | 121.43 | -18.27 | 16.83 | -21.43 | 55.88 | -444.29 | 2.54 | 3.25 | -11.5 |
| 22Q2 (14) | 5.41 | -21.37 | -30.37 | 1.09 | -60.07 | -69.72 | 0.74 | -74.31 | -79.5 | 0.32 | -85.45 | -88.57 | 0.74 | -85.8 | -92.33 | 0.30 | -82.46 | -88.68 | 0.67 | -10.67 | -27.17 | 1.34 | -60.47 | -67.63 | 280.19 | 38.33 | -3.07 | 148.57 | 57.44 | 49.45 | -48.57 | -962.14 | 0 | 2.46 | -9.23 | -4.28 |
| 22Q1 (13) | 6.88 | 49.24 | 0.29 | 2.73 | 181.44 | 4.6 | 2.88 | 72.46 | 0.35 | 2.20 | 83.33 | -3.08 | 5.21 | 65.4 | -29.02 | 1.71 | 59.81 | -16.99 | 0.75 | -10.71 | -13.79 | 3.39 | 54.79 | -2.59 | 202.55 | -10.05 | -22.22 | 94.37 | 62.31 | 3.63 | 5.63 | -86.54 | -37.0 | 2.71 | 27.23 | 0.74 |
| 21Q4 (12) | 4.61 | -36.5 | -17.24 | 0.97 | -65.72 | -42.6 | 1.67 | -38.38 | 1.21 | 1.20 | -40.59 | 1.69 | 3.15 | -44.74 | -31.52 | 1.07 | -38.86 | -10.83 | 0.84 | 0.0 | -7.69 | 2.19 | -32.2 | -2.23 | 225.18 | 12.09 | -20.53 | 58.14 | -44.06 | -42.57 | 41.86 | 1163.26 | 1795.35 | 2.13 | -25.78 | -7.39 |
| 21Q3 (11) | 7.26 | -6.56 | 43.48 | 2.83 | -21.39 | 39.41 | 2.71 | -24.93 | 41.15 | 2.02 | -27.86 | 60.32 | 5.70 | -40.93 | -8.06 | 1.75 | -33.96 | 29.63 | 0.84 | -8.7 | -13.4 | 3.23 | -21.98 | 34.58 | 200.90 | -30.5 | -47.32 | 103.94 | 4.55 | -2.23 | -3.94 | 0 | 37.57 | 2.87 | 11.67 | 47.94 |
| 21Q2 (10) | 7.77 | 13.27 | 45.51 | 3.60 | 37.93 | 113.02 | 3.61 | 25.78 | 132.9 | 2.80 | 23.35 | 161.68 | 9.65 | 31.47 | 128.67 | 2.65 | 28.64 | 181.91 | 0.92 | 5.75 | 26.03 | 4.14 | 18.97 | 88.18 | 289.07 | 11.0 | -33.14 | 99.42 | 9.18 | -9.51 | 0.00 | -100.0 | 100.0 | 2.57 | -4.46 | 14.22 |
| 21Q1 (9) | 6.86 | 23.16 | 17.87 | 2.61 | 54.44 | 113.93 | 2.87 | 73.94 | 202.11 | 2.27 | 92.37 | 224.29 | 7.34 | 59.57 | 247.87 | 2.06 | 71.67 | 281.48 | 0.87 | -4.4 | 64.15 | 3.48 | 55.36 | 91.21 | 260.42 | -8.1 | -41.54 | 91.06 | -10.05 | -30.12 | 8.94 | 462.2 | 132.79 | 2.69 | 16.96 | 0 |
| 20Q4 (8) | 5.57 | 10.08 | 28.34 | 1.69 | -16.75 | 42.02 | 1.65 | -14.06 | 85.39 | 1.18 | -6.35 | 63.89 | 4.60 | -25.81 | 12.75 | 1.20 | -11.11 | 37.93 | 0.91 | -6.19 | 3.41 | 2.24 | -6.67 | 52.38 | 283.36 | -25.7 | -42.02 | 101.23 | -4.77 | -24.72 | -2.47 | 60.85 | 92.46 | 2.30 | 18.56 | 0 |
| 20Q3 (7) | 5.06 | -5.24 | 5.42 | 2.03 | 20.12 | 43.97 | 1.92 | 23.87 | 79.44 | 1.26 | 17.76 | 88.06 | 6.20 | 46.92 | 110.88 | 1.35 | 43.62 | 101.49 | 0.97 | 32.88 | 40.58 | 2.40 | 9.09 | 36.36 | 381.39 | -11.78 | -36.41 | 106.31 | -3.23 | -17.99 | -6.31 | 25.38 | 79.97 | 1.94 | -13.78 | -2.02 |
| 20Q2 (6) | 5.34 | -8.25 | -13.03 | 1.69 | 38.52 | 7.64 | 1.55 | 63.16 | 35.96 | 1.07 | 52.86 | 0.94 | 4.22 | 100.0 | 25.97 | 0.94 | 74.07 | 10.59 | 0.73 | 37.74 | 30.36 | 2.20 | 20.88 | 3.77 | 432.32 | -2.96 | -9.78 | 109.86 | -15.69 | -19.57 | -8.45 | 69.01 | 76.9 | 2.25 | 0 | -16.97 |
| 20Q1 (5) | 5.82 | 34.1 | -7.77 | 1.22 | 2.52 | -17.01 | 0.95 | 6.74 | -19.49 | 0.70 | -2.78 | 2.94 | 2.11 | -48.28 | 12.23 | 0.54 | -37.93 | -5.26 | 0.53 | -39.77 | 0.0 | 1.82 | 23.81 | -8.08 | 445.49 | -8.84 | 1.49 | 130.30 | -3.11 | 7.14 | -27.27 | 16.75 | -12.12 | 0.00 | 0 | -100.0 |
| 19Q4 (4) | 4.34 | -9.58 | 0.0 | 1.19 | -15.6 | 0.0 | 0.89 | -16.82 | 0.0 | 0.72 | 7.46 | 0.0 | 4.08 | 38.78 | 0.0 | 0.87 | 29.85 | 0.0 | 0.88 | 27.54 | 0.0 | 1.47 | -16.48 | 0.0 | 488.70 | -18.52 | 0.0 | 134.48 | 3.74 | 0.0 | -32.76 | -4.06 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 4.80 | -21.82 | 0.0 | 1.41 | -10.19 | 0.0 | 1.07 | -6.14 | 0.0 | 0.67 | -36.79 | 0.0 | 2.94 | -12.24 | 0.0 | 0.67 | -21.18 | 0.0 | 0.69 | 23.21 | 0.0 | 1.76 | -16.98 | 0.0 | 599.80 | 25.17 | 0.0 | 129.63 | -5.09 | 0.0 | -31.48 | 13.95 | 0.0 | 1.98 | -26.94 | 0.0 |
| 19Q2 (2) | 6.14 | -2.69 | 0.0 | 1.57 | 6.8 | 0.0 | 1.14 | -3.39 | 0.0 | 1.06 | 55.88 | 0.0 | 3.35 | 78.19 | 0.0 | 0.85 | 49.12 | 0.0 | 0.56 | 5.66 | 0.0 | 2.12 | 7.07 | 0.0 | 479.17 | 9.16 | 0.0 | 136.59 | 12.3 | 0.0 | -36.59 | -50.41 | 0.0 | 2.71 | -11.44 | 0.0 |
| 19Q1 (1) | 6.31 | 0.0 | 0.0 | 1.47 | 0.0 | 0.0 | 1.18 | 0.0 | 0.0 | 0.68 | 0.0 | 0.0 | 1.88 | 0.0 | 0.0 | 0.57 | 0.0 | 0.0 | 0.53 | 0.0 | 0.0 | 1.98 | 0.0 | 0.0 | 438.96 | 0.0 | 0.0 | 121.62 | 0.0 | 0.0 | -24.32 | 0.0 | 0.0 | 3.06 | 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) | 5.31 | -0.38 | 1.03 | -20.16 | 0.48 | 12.23 | 0.92 | -23.33 | 0.57 | -34.48 | 5.84 | -32.41 | 2.69 | -11.51 | 2.71 | -3.56 | 1.93 | 1.58 | 269.67 | -4.59 | 112.31 | 4.59 | -11.79 | 0 | 0.01 | -48.24 | 2.54 | 3.67 |
| 2022 (9) | 5.33 | -19.0 | 1.29 | -47.56 | 0.43 | -0.75 | 1.20 | -55.39 | 0.87 | -57.56 | 8.64 | -63.23 | 3.04 | -56.76 | 2.81 | -14.85 | 1.90 | -41.18 | 282.65 | 25.52 | 107.38 | 17.33 | -7.38 | 0 | 0.03 | -45.56 | 2.45 | -3.92 |
| 2021 (8) | 6.58 | 21.85 | 2.46 | 43.86 | 0.43 | 10.55 | 2.69 | 70.25 | 2.05 | 88.07 | 23.50 | 40.3 | 7.03 | 72.3 | 3.30 | 3.12 | 3.23 | 46.15 | 225.18 | -20.53 | 91.52 | -15.35 | 8.28 | 0 | 0.05 | 12.41 | 2.55 | 10.87 |
| 2020 (7) | 5.40 | 4.85 | 1.71 | 24.82 | 0.39 | 28.32 | 1.58 | 51.92 | 1.09 | 43.42 | 16.75 | 36.62 | 4.08 | 26.71 | 3.20 | 9.22 | 2.21 | 25.57 | 283.36 | -42.02 | 108.11 | -17.94 | -8.11 | 0 | 0.04 | 0 | 2.30 | 2.68 |
| 2019 (6) | 5.15 | -6.87 | 1.37 | -5.52 | 0.30 | 573.01 | 1.04 | -18.75 | 0.76 | -22.45 | 12.26 | 19.03 | 3.22 | 6.98 | 2.93 | 5.02 | 1.76 | 20.55 | 488.70 | 21.42 | 131.75 | 16.13 | -31.75 | 0 | 0.00 | 0 | 2.24 | -12.5 |
| 2018 (5) | 5.53 | 6.14 | 1.45 | 2.11 | 0.05 | 22.55 | 1.28 | -11.72 | 0.98 | -5.77 | 10.30 | 130.94 | 3.01 | 64.48 | 2.79 | 75.47 | 1.46 | -10.98 | 402.50 | 120.34 | 113.45 | 14.9 | -13.45 | 0 | 0.00 | 0 | 2.56 | 13.27 |
| 2017 (4) | 5.21 | 0 | 1.42 | 0 | 0.04 | 0 | 1.45 | 0 | 1.04 | 0 | 4.46 | 0 | 1.83 | 0 | 1.59 | 0 | 1.64 | 0 | 182.67 | 0 | 98.73 | 0 | 2.53 | 0 | 0.00 | 0 | 2.26 | 0 |
