- 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) | 30.78 | 9.54 | 5.02 | 9.96 | 20.14 | 18.43 | 10.04 | 22.44 | 17.29 | 10.15 | 159.59 | -12.58 | 3.75 | -39.32 | 29.31 | 1.87 | -41.93 | 12.65 | 0.26 | -46.94 | 4.0 | 15.55 | 19.98 | 10.44 | 116.12 | -1.53 | 40.21 | 99.17 | -2.07 | 1.2 | 0.83 | 164.88 | -58.68 | 14.15 | 21.36 | 4.27 |
23Q3 (19) | 28.10 | -6.02 | -0.92 | 8.29 | 41.71 | -12.83 | 8.20 | 22.75 | -17.51 | 3.91 | -4.87 | -12.53 | 6.18 | 239.56 | -9.91 | 3.22 | 218.81 | -13.67 | 0.49 | 122.73 | 8.89 | 12.96 | -3.79 | -10.56 | 117.92 | 26.0 | 36.61 | 101.27 | 15.41 | 6.04 | -1.27 | -110.4 | -128.34 | 11.66 | -36.87 | 19.71 |
23Q2 (18) | 29.90 | -4.35 | 9.72 | 5.85 | -7.87 | -24.52 | 6.68 | 0.15 | -15.23 | 4.11 | -20.81 | -34.76 | 1.82 | 7.69 | -40.91 | 1.01 | 5.21 | -38.04 | 0.22 | 29.41 | -12.0 | 13.47 | -3.72 | -5.21 | 93.59 | -9.2 | -3.27 | 87.76 | -8.26 | -10.83 | 12.24 | 181.63 | 671.43 | 18.47 | 8.52 | 15.37 |
23Q1 (17) | 31.26 | 6.65 | 7.94 | 6.35 | -24.49 | 99.69 | 6.67 | -22.08 | -60.13 | 5.19 | -55.3 | -67.62 | 1.69 | -41.72 | -76.63 | 0.96 | -42.17 | -75.06 | 0.17 | -32.0 | -29.17 | 13.99 | -0.64 | -42.64 | 103.07 | 24.45 | 1.9 | 95.65 | -2.4 | 392.61 | 4.35 | 117.39 | -94.6 | 17.02 | 25.42 | -14.47 |
22Q4 (16) | 29.31 | 3.35 | -22.89 | 8.41 | -11.57 | 50.99 | 8.56 | -13.88 | 38.06 | 11.61 | 159.73 | 119.06 | 2.90 | -57.73 | 42.16 | 1.66 | -55.5 | 33.87 | 0.25 | -44.44 | 8.7 | 14.08 | -2.83 | 13.46 | 82.82 | -4.05 | 6.47 | 98.00 | 2.61 | 10.78 | 2.00 | -55.5 | -82.67 | 13.57 | 39.32 | -40.74 |
22Q3 (15) | 28.36 | 4.07 | -17.7 | 9.51 | 22.71 | 181.36 | 9.94 | 26.14 | 105.37 | 4.47 | -29.05 | 18.88 | 6.86 | 122.73 | 419.7 | 3.73 | 128.83 | 338.82 | 0.45 | 80.0 | 104.55 | 14.49 | 1.97 | 21.36 | 86.32 | -10.78 | 37.54 | 95.51 | -2.95 | 32.24 | 4.49 | 183.15 | -86.52 | 9.74 | -39.16 | -62.16 |
22Q2 (14) | 27.25 | -5.9 | -10.63 | 7.75 | 143.71 | 822.62 | 7.88 | -52.9 | 275.24 | 6.30 | -60.7 | 298.73 | 3.08 | -57.4 | 528.57 | 1.63 | -57.66 | 365.71 | 0.25 | 4.17 | 31.58 | 14.21 | -41.74 | 40.83 | 96.75 | -4.35 | 52.67 | 98.41 | 406.83 | 129.63 | 1.59 | -98.03 | -97.22 | 16.01 | -19.55 | -39.83 |
22Q1 (13) | 28.96 | -23.81 | -20.24 | 3.18 | -42.91 | 39.47 | 16.73 | 169.84 | 429.43 | 16.03 | 202.45 | 622.07 | 7.23 | 254.41 | 995.45 | 3.85 | 210.48 | 755.56 | 0.24 | 4.35 | 26.32 | 24.39 | 96.54 | 125.0 | 101.15 | 30.03 | 74.85 | 19.42 | -78.05 | -75.73 | 80.58 | 598.38 | 168.61 | 19.90 | -13.1 | -32.66 |
21Q4 (12) | 38.01 | 10.3 | -9.78 | 5.57 | 64.79 | -51.61 | 6.20 | 28.1 | -47.86 | 5.30 | 40.96 | -46.14 | 2.04 | 54.55 | -44.57 | 1.24 | 45.88 | -46.78 | 0.23 | 4.55 | 0.0 | 12.41 | 3.94 | -29.49 | 77.79 | 23.95 | 28.22 | 88.46 | 22.49 | -7.77 | 11.54 | -65.38 | 182.69 | 22.90 | -11.03 | -13.94 |
21Q3 (11) | 34.46 | 13.02 | -15.7 | 3.38 | 302.38 | -58.78 | 4.84 | 130.48 | -42.24 | 3.76 | 137.97 | -40.79 | 1.32 | 169.39 | -40.0 | 0.85 | 142.86 | -39.29 | 0.22 | 15.79 | 4.76 | 11.94 | 18.33 | -17.31 | 62.76 | -0.96 | 2.3 | 72.22 | 68.52 | -25.37 | 33.33 | -41.67 | 933.33 | 25.74 | -3.27 | -3.31 |
21Q2 (10) | 30.49 | -16.03 | -13.28 | 0.84 | -63.16 | -68.42 | 2.10 | -33.54 | -50.82 | 1.58 | -28.83 | -53.8 | 0.49 | -25.76 | -51.96 | 0.35 | -22.22 | -49.28 | 0.19 | 0.0 | 0.0 | 10.09 | -6.92 | -9.18 | 63.37 | 9.54 | -1.12 | 42.86 | -46.43 | -33.33 | 57.14 | 90.48 | 60.0 | 26.61 | -9.95 | 0 |
21Q1 (9) | 36.31 | -13.81 | -5.32 | 2.28 | -80.19 | -39.84 | 3.16 | -73.42 | -23.3 | 2.22 | -77.44 | -29.3 | 0.66 | -82.07 | -22.35 | 0.45 | -80.69 | -26.23 | 0.19 | -17.39 | 5.56 | 10.84 | -38.41 | -4.07 | 57.85 | -4.65 | 11.64 | 80.00 | -16.6 | -12.73 | 30.00 | 635.0 | 260.0 | 29.55 | 11.05 | 1.27 |
20Q4 (8) | 42.13 | 3.06 | 4.46 | 11.51 | 40.37 | 14.76 | 11.89 | 41.89 | 16.23 | 9.84 | 54.96 | 9.7 | 3.68 | 67.27 | 26.03 | 2.33 | 66.43 | 18.88 | 0.23 | 9.52 | 9.52 | 17.60 | 21.88 | 10.21 | 60.67 | -1.11 | 14.64 | 95.92 | -0.88 | -1.42 | 4.08 | 26.53 | 51.02 | 26.61 | -0.04 | 2.31 |
20Q3 (7) | 40.88 | 16.27 | -2.5 | 8.20 | 208.27 | -21.0 | 8.38 | 96.25 | -11.79 | 6.35 | 85.67 | -11.93 | 2.20 | 115.69 | -6.38 | 1.40 | 102.9 | -10.83 | 0.21 | 10.53 | 0.0 | 14.44 | 29.97 | -4.94 | 61.35 | -4.28 | 13.38 | 96.77 | 50.54 | -11.29 | 3.23 | -90.97 | 135.48 | 26.62 | 0 | -0.15 |
20Q2 (6) | 35.16 | -8.32 | -7.81 | 2.66 | -29.82 | -55.74 | 4.27 | 3.64 | -31.9 | 3.42 | 8.92 | -28.6 | 1.02 | 20.0 | -32.0 | 0.69 | 13.11 | -33.65 | 0.19 | 5.56 | -9.52 | 11.11 | -1.68 | -7.57 | 64.09 | 23.68 | 16.74 | 64.29 | -29.87 | -32.5 | 35.71 | 328.57 | 650.0 | 0.00 | -100.0 | -100.0 |
20Q1 (5) | 38.35 | -4.91 | 0.29 | 3.79 | -62.21 | -51.9 | 4.12 | -59.73 | -51.36 | 3.14 | -64.99 | -54.76 | 0.85 | -70.89 | -59.33 | 0.61 | -68.88 | -57.93 | 0.18 | -14.29 | -10.0 | 11.30 | -29.24 | -19.91 | 51.82 | -2.08 | 10.16 | 91.67 | -5.79 | -1.28 | 8.33 | 208.33 | 16.67 | 29.18 | 12.19 | 16.63 |
19Q4 (4) | 40.33 | -3.82 | 0.0 | 10.03 | -3.37 | 0.0 | 10.23 | 7.68 | 0.0 | 8.97 | 24.41 | 0.0 | 2.92 | 24.26 | 0.0 | 1.96 | 24.84 | 0.0 | 0.21 | 0.0 | 0.0 | 15.97 | 5.13 | 0.0 | 52.92 | -2.2 | 0.0 | 97.30 | -10.81 | 0.0 | 2.70 | 129.73 | 0.0 | 26.01 | -2.44 | 0.0 |
19Q3 (3) | 41.93 | 9.94 | 0.0 | 10.38 | 72.71 | 0.0 | 9.50 | 51.52 | 0.0 | 7.21 | 50.52 | 0.0 | 2.35 | 56.67 | 0.0 | 1.57 | 50.96 | 0.0 | 0.21 | 0.0 | 0.0 | 15.19 | 26.37 | 0.0 | 54.11 | -1.44 | 0.0 | 109.09 | 14.55 | 0.0 | -9.09 | -290.91 | 0.0 | 26.66 | 5.96 | 0.0 |
19Q2 (2) | 38.14 | -0.26 | 0.0 | 6.01 | -23.73 | 0.0 | 6.27 | -25.97 | 0.0 | 4.79 | -30.98 | 0.0 | 1.50 | -28.23 | 0.0 | 1.04 | -28.28 | 0.0 | 0.21 | 5.0 | 0.0 | 12.02 | -14.81 | 0.0 | 54.90 | 16.71 | 0.0 | 95.24 | 2.56 | 0.0 | 4.76 | -33.33 | 0.0 | 25.16 | 0.56 | 0.0 |
19Q1 (1) | 38.24 | 0.0 | 0.0 | 7.88 | 0.0 | 0.0 | 8.47 | 0.0 | 0.0 | 6.94 | 0.0 | 0.0 | 2.09 | 0.0 | 0.0 | 1.45 | 0.0 | 0.0 | 0.20 | 0.0 | 0.0 | 14.11 | 0.0 | 0.0 | 47.04 | 0.0 | 0.0 | 92.86 | 0.0 | 0.0 | 7.14 | 0.0 | 0.0 | 25.02 | 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) | 29.58 | 3.79 | 8.04 | 0.5 | 4.47 | 11.13 | 8.21 | -19.11 | 5.79 | -30.58 | 11.09 | -44.33 | 6.07 | -46.85 | 0.97 | -26.52 | 13.87 | -11.77 | 116.12 | 40.21 | 97.86 | 24.14 | 2.14 | -89.87 | 7.09 | -4.45 | 14.23 | 6.67 |
2022 (9) | 28.50 | -18.52 | 8.00 | 152.37 | 4.02 | -33.81 | 10.15 | 140.52 | 8.34 | 148.96 | 19.92 | 350.68 | 11.42 | 310.79 | 1.32 | 69.23 | 15.72 | 37.89 | 82.82 | 6.47 | 78.83 | 6.25 | 21.17 | -12.49 | 7.42 | 66.7 | 13.34 | -48.67 |
2021 (8) | 34.98 | -11.17 | 3.17 | -54.32 | 6.08 | 16.59 | 4.22 | -44.03 | 3.35 | -44.17 | 4.42 | -41.61 | 2.78 | -44.51 | 0.78 | -2.5 | 11.40 | -18.1 | 77.79 | 28.22 | 74.19 | -18.92 | 24.19 | 220.56 | 4.45 | -15.92 | 25.99 | -4.31 |
2020 (7) | 39.38 | -0.78 | 6.94 | -15.26 | 5.21 | 14.14 | 7.54 | -12.73 | 6.00 | -14.29 | 7.57 | -13.88 | 5.01 | -15.51 | 0.80 | -2.44 | 13.92 | -3.0 | 60.67 | 14.64 | 91.51 | -3.63 | 7.55 | 49.69 | 5.29 | -0.56 | 27.16 | 5.56 |
2019 (6) | 39.69 | 5.06 | 8.19 | 7.91 | 4.57 | 60.83 | 8.64 | 10.77 | 7.00 | 11.11 | 8.79 | 22.08 | 5.93 | 18.36 | 0.82 | 6.49 | 14.35 | 19.58 | 52.92 | -1.91 | 94.96 | -3.02 | 5.04 | 61.34 | 5.32 | -8.65 | 25.73 | -1.91 |
2018 (5) | 37.78 | 2.58 | 7.59 | 13.79 | 2.84 | 1.5 | 7.80 | 24.2 | 6.30 | 31.52 | 7.20 | 50.0 | 5.01 | 41.93 | 0.77 | 8.45 | 12.00 | 14.18 | 53.95 | 21.02 | 97.92 | -7.76 | 3.12 | 0 | 5.83 | 0 | 26.23 | -1.91 |
2017 (4) | 36.83 | 4.9 | 6.67 | 8.99 | 2.80 | -2.01 | 6.28 | -13.5 | 4.79 | -8.94 | 4.80 | 5.49 | 3.53 | 3.82 | 0.71 | 12.7 | 10.51 | -7.97 | 44.58 | 21.04 | 106.15 | 25.81 | -6.15 | 0 | 0.00 | 0 | 26.74 | 1.29 |
2016 (3) | 35.11 | 6.68 | 6.12 | 1100.0 | 2.85 | 21.68 | 7.26 | -47.28 | 5.26 | -57.1 | 4.55 | -67.36 | 3.40 | -64.8 | 0.63 | -19.23 | 11.42 | -33.45 | 36.83 | 0.14 | 84.38 | 2076.88 | 15.62 | -83.74 | 0.00 | 0 | 26.40 | -11.88 |
2015 (2) | 32.91 | -8.18 | 0.51 | -94.56 | 2.35 | -11.83 | 13.77 | 38.53 | 12.26 | 64.56 | 13.94 | 7.07 | 9.66 | 15.83 | 0.78 | -29.09 | 17.16 | 24.44 | 36.78 | -37.98 | 3.88 | -95.88 | 96.12 | 1518.09 | 0.00 | 0 | 29.96 | 27.82 |
2014 (1) | 35.84 | 0 | 9.37 | 0 | 2.66 | -28.53 | 9.94 | 0 | 7.45 | 0 | 13.02 | 0 | 8.34 | 0 | 1.10 | 6.8 | 13.79 | 23.46 | 59.30 | 0.64 | 94.06 | 10.78 | 5.94 | -65.02 | 0.00 | 0 | 23.44 | -2.62 |