- 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) | 16.04 | -0.74 | -16.55 | 7.36 | -0.54 | -33.99 | 7.70 | -3.14 | -32.4 | 6.17 | 1.65 | -34.15 | 3.13 | 2.62 | -41.05 | 1.65 | 6.45 | -32.65 | 0.23 | 4.55 | -8.0 | 17.88 | -3.14 | -11.53 | 109.54 | -10.3 | -9.48 | 95.54 | 2.63 | -2.35 | 4.47 | -35.32 | 106.35 | 15.01 | -0.73 | 2.88 |
| 23Q3 (19) | 16.16 | 1.32 | -19.72 | 7.40 | 7.09 | -41.08 | 7.95 | 7.14 | -36.5 | 6.07 | 1.0 | -38.31 | 3.05 | 9.32 | -52.04 | 1.55 | 11.51 | -42.16 | 0.22 | 10.0 | -15.38 | 18.46 | -3.5 | -10.0 | 122.12 | -3.17 | -13.64 | 93.09 | 0.0 | -7.18 | 6.91 | -0.0 | 2536.63 | 15.12 | -7.86 | 7.69 |
| 23Q2 (18) | 15.95 | 7.92 | -25.57 | 6.91 | 17.52 | -46.18 | 7.42 | 23.46 | -43.66 | 6.01 | 29.25 | -42.1 | 2.79 | 39.5 | -54.63 | 1.39 | 32.38 | -43.27 | 0.20 | 5.26 | -13.04 | 19.13 | 5.52 | -13.98 | 126.12 | -5.27 | -19.27 | 93.09 | -4.81 | -4.52 | 6.91 | 210.9 | 175.68 | 16.41 | -1.2 | -1.8 |
| 23Q1 (17) | 14.78 | -23.1 | -25.05 | 5.88 | -47.26 | -47.31 | 6.01 | -47.23 | -47.92 | 4.65 | -50.37 | -49.84 | 2.00 | -62.34 | -59.76 | 1.05 | -57.14 | -48.53 | 0.19 | -24.0 | -9.52 | 18.13 | -10.29 | -15.16 | 133.13 | 10.02 | -18.79 | 97.79 | -0.04 | 1.13 | 2.22 | 2.61 | -32.63 | 16.61 | 13.85 | -0.06 |
| 22Q4 (16) | 19.22 | -4.52 | 1.05 | 11.15 | -11.23 | -1.68 | 11.39 | -9.03 | -47.24 | 9.37 | -4.78 | -48.97 | 5.31 | -16.51 | -56.04 | 2.45 | -8.58 | -49.8 | 0.25 | -3.85 | -3.85 | 20.21 | -1.46 | -32.95 | 121.01 | -14.42 | -16.56 | 97.83 | -2.45 | 86.22 | 2.17 | 863.8 | -95.43 | 14.59 | 3.92 | 2.75 |
| 22Q3 (15) | 20.13 | -6.07 | -1.47 | 12.56 | -2.18 | 2.7 | 12.52 | -4.94 | 2.12 | 9.84 | -5.2 | -0.1 | 6.36 | 3.41 | 8.35 | 2.68 | 9.39 | 9.84 | 0.26 | 13.04 | 8.33 | 20.51 | -7.78 | -6.48 | 141.40 | -9.49 | -11.2 | 100.29 | 2.86 | 0.55 | -0.28 | -111.31 | -209.2 | 14.04 | -15.98 | -13.87 |
| 22Q2 (14) | 21.43 | 8.67 | 9.67 | 12.84 | 15.05 | 23.7 | 13.17 | 14.12 | 25.31 | 10.38 | 11.97 | 23.13 | 6.15 | 23.74 | 44.03 | 2.45 | 20.1 | 32.43 | 0.23 | 9.52 | 9.52 | 22.24 | 4.07 | 2.49 | 156.22 | -4.7 | 11.26 | 97.50 | 0.82 | -1.24 | 2.51 | -24.03 | 95.7 | 16.71 | 0.54 | -8.69 |
| 22Q1 (13) | 19.72 | 3.68 | 7.64 | 11.16 | -1.59 | 22.23 | 11.54 | -46.55 | 23.29 | 9.27 | -49.51 | 26.81 | 4.97 | -58.86 | 36.54 | 2.04 | -58.2 | 30.77 | 0.21 | -19.23 | 5.0 | 21.37 | -29.1 | 2.15 | 163.93 | 13.03 | 11.82 | 96.70 | 84.06 | -0.9 | 3.30 | -93.05 | 35.67 | 16.62 | 17.04 | -11.64 |
| 21Q4 (12) | 19.02 | -6.9 | 21.53 | 11.34 | -7.28 | 50.2 | 21.59 | 76.1 | 154.9 | 18.36 | 86.4 | 153.94 | 12.08 | 105.79 | 153.25 | 4.88 | 100.0 | 150.26 | 0.26 | 8.33 | 0.0 | 30.14 | 37.44 | 71.84 | 145.03 | -8.92 | -2.76 | 52.54 | -47.32 | -41.12 | 47.46 | 18167.5 | 340.5 | 14.20 | -12.88 | -4.51 |
| 21Q3 (11) | 20.43 | 4.55 | 27.61 | 12.23 | 17.82 | 64.82 | 12.26 | 16.65 | 67.49 | 9.85 | 16.84 | 68.09 | 5.87 | 37.47 | 75.22 | 2.44 | 31.89 | 78.1 | 0.24 | 14.29 | 9.09 | 21.93 | 1.06 | 18.48 | 159.23 | 13.4 | -4.84 | 99.73 | 1.03 | -1.65 | 0.26 | -79.72 | 118.44 | 16.30 | -10.93 | 0.87 |
| 21Q2 (10) | 19.54 | 6.66 | 11.72 | 10.38 | 13.69 | 32.4 | 10.51 | 12.29 | 27.24 | 8.43 | 15.32 | 25.26 | 4.27 | 17.31 | 27.46 | 1.85 | 18.59 | 31.21 | 0.21 | 5.0 | 10.53 | 21.70 | 3.73 | 3.33 | 140.41 | -4.22 | -12.84 | 98.72 | 1.17 | 4.01 | 1.28 | -47.33 | -74.83 | 18.30 | -2.71 | 0.38 |
| 21Q1 (9) | 18.32 | 17.06 | 10.43 | 9.13 | 20.93 | 46.55 | 9.36 | 10.51 | 73.98 | 7.31 | 1.11 | 75.3 | 3.64 | -23.69 | 93.62 | 1.56 | -20.0 | 81.4 | 0.20 | -23.08 | 17.65 | 20.92 | 19.27 | 7.5 | 146.60 | -1.71 | -10.0 | 97.58 | 9.36 | -15.73 | 2.43 | -77.42 | 115.42 | 18.81 | 26.5 | -4.37 |
| 20Q4 (8) | 15.65 | -2.25 | -8.53 | 7.55 | 1.75 | 0.67 | 8.47 | 15.71 | 14.46 | 7.23 | 23.38 | 23.38 | 4.77 | 42.39 | 51.91 | 1.95 | 42.34 | 42.34 | 0.26 | 18.18 | 23.81 | 17.54 | -5.24 | -8.65 | 149.15 | -10.86 | -6.61 | 89.23 | -12.01 | -12.04 | 10.77 | 864.72 | 851.75 | 14.87 | -7.98 | -13.04 |
| 20Q3 (7) | 16.01 | -8.46 | -1.48 | 7.42 | -5.36 | 4.07 | 7.32 | -11.38 | 11.42 | 5.86 | -12.93 | 10.78 | 3.35 | 0.0 | 17.54 | 1.37 | -2.84 | 7.03 | 0.22 | 15.79 | 4.76 | 18.51 | -11.86 | 1.98 | 167.33 | 3.87 | 6.07 | 101.41 | 6.85 | -6.62 | -1.41 | -127.68 | 83.62 | 16.16 | -11.35 | -2.42 |
| 20Q2 (6) | 17.49 | 5.42 | 13.65 | 7.84 | 25.84 | 71.55 | 8.26 | 53.53 | 69.26 | 6.73 | 61.39 | 117.8 | 3.35 | 78.19 | 165.87 | 1.41 | 63.95 | 104.35 | 0.19 | 11.76 | 11.76 | 21.00 | 7.91 | 5.21 | 161.10 | -1.09 | 10.42 | 94.91 | -18.04 | 1.35 | 5.09 | 132.27 | -19.85 | 18.23 | -7.32 | -8.21 |
| 20Q1 (5) | 16.59 | -3.04 | 29.51 | 6.23 | -16.93 | 141.47 | 5.38 | -27.3 | 81.14 | 4.17 | -28.84 | 66.14 | 1.88 | -40.13 | 88.0 | 0.86 | -37.23 | 45.76 | 0.17 | -19.05 | 0.0 | 19.46 | 1.35 | 6.05 | 162.88 | 1.99 | 22.88 | 115.79 | 14.16 | 33.07 | -15.78 | -1000.69 | -221.54 | 19.67 | 15.03 | 1.34 |
| 19Q4 (4) | 17.11 | 5.29 | 0.0 | 7.50 | 5.19 | 0.0 | 7.40 | 12.63 | 0.0 | 5.86 | 10.78 | 0.0 | 3.14 | 10.18 | 0.0 | 1.37 | 7.03 | 0.0 | 0.21 | 0.0 | 0.0 | 19.20 | 5.79 | 0.0 | 159.70 | 1.23 | 0.0 | 101.43 | -6.6 | 0.0 | -1.43 | 83.33 | 0.0 | 17.10 | 3.26 | 0.0 |
| 19Q3 (3) | 16.25 | 5.59 | 0.0 | 7.13 | 56.02 | 0.0 | 6.57 | 34.63 | 0.0 | 5.29 | 71.2 | 0.0 | 2.85 | 126.19 | 0.0 | 1.28 | 85.51 | 0.0 | 0.21 | 23.53 | 0.0 | 18.15 | -9.07 | 0.0 | 157.76 | 8.13 | 0.0 | 108.60 | 15.97 | 0.0 | -8.60 | -235.4 | 0.0 | 16.56 | -16.62 | 0.0 |
| 19Q2 (2) | 15.39 | 20.14 | 0.0 | 4.57 | 77.13 | 0.0 | 4.88 | 64.31 | 0.0 | 3.09 | 23.11 | 0.0 | 1.26 | 26.0 | 0.0 | 0.69 | 16.95 | 0.0 | 0.17 | 0.0 | 0.0 | 19.96 | 8.77 | 0.0 | 145.90 | 10.07 | 0.0 | 93.65 | 7.62 | 0.0 | 6.35 | -51.06 | 0.0 | 19.86 | 2.32 | 0.0 |
| 19Q1 (1) | 12.81 | 0.0 | 0.0 | 2.58 | 0.0 | 0.0 | 2.97 | 0.0 | 0.0 | 2.51 | 0.0 | 0.0 | 1.00 | 0.0 | 0.0 | 0.59 | 0.0 | 0.0 | 0.17 | 0.0 | 0.0 | 18.35 | 0.0 | 0.0 | 132.55 | 0.0 | 0.0 | 87.02 | 0.0 | 0.0 | 12.98 | 0.0 | 0.0 | 19.41 | 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) | 15.77 | -21.58 | 6.93 | -42.01 | 9.31 | 21.27 | 7.32 | -39.85 | 5.77 | -40.64 | 10.52 | -52.05 | 5.62 | -43.35 | 0.85 | -12.37 | 18.38 | -12.6 | 109.54 | -9.48 | 94.67 | -3.62 | 5.34 | 200.37 | 10.44 | 1.32 | 15.73 | 2.28 |
| 2022 (9) | 20.11 | 3.87 | 11.95 | 9.63 | 7.68 | -13.27 | 12.17 | -13.63 | 9.72 | -16.06 | 21.94 | -15.42 | 9.92 | -8.74 | 0.97 | 6.59 | 21.03 | -12.96 | 121.01 | -16.56 | 98.22 | 27.02 | 1.78 | -92.16 | 10.30 | -8.77 | 15.38 | -7.52 |
| 2021 (8) | 19.36 | 18.41 | 10.90 | 49.11 | 8.85 | -11.14 | 14.09 | 88.12 | 11.58 | 88.6 | 25.94 | 98.77 | 10.87 | 93.42 | 0.91 | 8.33 | 24.16 | 27.43 | 145.03 | -2.76 | 77.33 | -20.77 | 22.67 | 844.11 | 11.29 | -17.38 | 16.63 | -1.83 |
| 2020 (7) | 16.35 | 5.08 | 7.31 | 28.47 | 9.96 | -12.2 | 7.49 | 32.57 | 6.14 | 40.5 | 13.05 | 57.23 | 5.62 | 43.0 | 0.84 | 10.53 | 18.96 | 0.37 | 149.15 | -6.61 | 97.60 | -3.08 | 2.40 | 0 | 13.67 | -3.17 | 16.94 | -6.15 |
| 2019 (6) | 15.56 | -5.58 | 5.69 | -20.75 | 11.35 | 4.54 | 5.65 | -34.61 | 4.37 | -38.71 | 8.30 | -33.39 | 3.93 | -39.91 | 0.76 | -8.43 | 18.89 | -10.47 | 159.70 | 12.7 | 100.70 | 21.1 | -0.70 | 0 | 14.11 | -6.15 | 18.05 | -0.66 |
| 2018 (5) | 16.48 | 0 | 7.18 | 0 | 10.86 | 0 | 8.64 | 0 | 7.13 | 0 | 12.46 | 0 | 6.54 | 0 | 0.83 | 0 | 21.10 | 0 | 141.70 | 0 | 83.15 | 0 | 16.85 | 0 | 15.04 | 0 | 18.17 | 0 |
