- 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) | 65.78 | 10.74 | 1.29 | 7.94 | 856.19 | -33.05 | 7.16 | 587.07 | -38.96 | 6.18 | 564.66 | -46.54 | 1.47 | 590.0 | -55.59 | 1.15 | 921.43 | -52.28 | 0.18 | 12.5 | -10.0 | 9.40 | 408.11 | -33.71 | 32.67 | -13.73 | -22.89 | 112.50 | 125.0 | 12.5 | -12.50 | 0 | 0 | 10.35 | -10.47 | 37.27 |
| 23Q3 (19) | 59.40 | -8.57 | -5.4 | -1.05 | -119.7 | -117.5 | -1.47 | -126.34 | -120.5 | -1.33 | -126.76 | -117.85 | -0.30 | -126.55 | -115.0 | -0.14 | -115.73 | -109.52 | 0.16 | -5.88 | -15.79 | 1.85 | -77.38 | -81.2 | 37.87 | 2.1 | -3.47 | 50.00 | -50.0 | -35.71 | -0.00 | 0 | -100.0 | 11.56 | -2.61 | 23.64 |
| 23Q2 (18) | 64.97 | 10.34 | -0.6 | 5.33 | 3.29 | -37.07 | 5.58 | 26.53 | -29.28 | 4.97 | -4.24 | -38.79 | 1.13 | -16.91 | -50.0 | 0.89 | -12.75 | -45.06 | 0.17 | -10.53 | -10.53 | 8.18 | 27.81 | -21.95 | 37.09 | 0.0 | -15.7 | 100.00 | 0.0 | 0.0 | 0.00 | 100.0 | 100.0 | 11.87 | 9.4 | 31.74 |
| 23Q1 (17) | 58.88 | -9.33 | -4.82 | 5.16 | -56.49 | -68.71 | 4.41 | -62.4 | -73.81 | 5.19 | -55.1 | -68.87 | 1.36 | -58.91 | -76.71 | 1.02 | -57.68 | -73.91 | 0.19 | -5.0 | -17.39 | 6.40 | -54.87 | -65.94 | 37.09 | -12.46 | -17.02 | 100.00 | 0.0 | 0.0 | -16.67 | 0 | -516.67 | 10.85 | 43.9 | 42.02 |
| 22Q4 (16) | 64.94 | 3.42 | 5.65 | 11.86 | 97.67 | -27.59 | 11.73 | 63.6 | -30.18 | 11.56 | 55.17 | -27.3 | 3.31 | 65.5 | -48.92 | 2.41 | 63.95 | -41.65 | 0.20 | 5.26 | -23.08 | 14.18 | 44.11 | -25.45 | 42.37 | 8.0 | -27.3 | 100.00 | 28.57 | 0.0 | 0.00 | -100.0 | -100.0 | 7.54 | -19.36 | 65.35 |
| 22Q3 (15) | 62.79 | -3.93 | 7.41 | 6.00 | -29.16 | -49.45 | 7.17 | -9.13 | -44.63 | 7.45 | -8.25 | -42.74 | 2.00 | -11.5 | -63.5 | 1.47 | -9.26 | -57.51 | 0.19 | 0.0 | -26.92 | 9.84 | -6.11 | -34.79 | 39.23 | -10.84 | -34.99 | 77.78 | -22.22 | -14.04 | 11.11 | 211.11 | 16.67 | 9.35 | 3.77 | 24.83 |
| 22Q2 (14) | 65.36 | 5.66 | 8.43 | 8.47 | -48.64 | 21.35 | 7.89 | -53.15 | -16.6 | 8.12 | -51.29 | -7.41 | 2.26 | -61.3 | -31.52 | 1.62 | -58.57 | -23.22 | 0.19 | -17.39 | -17.39 | 10.48 | -44.23 | -10.88 | 44.00 | -1.57 | -28.58 | 100.00 | 0.0 | 30.0 | -10.00 | -350.0 | -143.33 | 9.01 | 17.93 | 8.29 |
| 22Q1 (13) | 61.86 | 0.63 | 11.04 | 16.49 | 0.67 | 252.83 | 16.84 | 0.24 | 256.8 | 16.67 | 4.84 | 257.12 | 5.84 | -9.88 | 275.9 | 3.91 | -5.33 | 301.55 | 0.23 | -11.54 | 21.05 | 18.79 | -1.21 | 365.4 | 44.70 | -23.3 | -27.88 | 100.00 | 0.0 | 0.0 | 4.00 | 8.0 | 0 | 7.64 | 67.54 | -31.29 |
| 21Q4 (12) | 61.47 | 5.15 | 7.65 | 16.38 | 37.99 | 224.18 | 16.80 | 29.73 | 231.05 | 15.90 | 22.21 | 231.73 | 6.48 | 18.25 | 282.54 | 4.13 | 19.36 | 292.09 | 0.26 | 0.0 | 44.44 | 19.02 | 26.04 | 309.24 | 58.28 | -3.41 | -16.94 | 100.00 | 10.53 | -6.67 | 3.70 | -61.11 | 0 | 4.56 | -39.12 | -50.91 |
| 21Q3 (11) | 58.46 | -3.02 | -5.22 | 11.87 | 70.06 | 168.22 | 12.95 | 36.89 | 173.25 | 13.01 | 48.35 | 168.58 | 5.48 | 66.06 | 217.09 | 3.46 | 63.98 | 215.72 | 0.26 | 13.04 | 62.5 | 15.09 | 28.32 | 211.45 | 60.34 | -2.06 | 14.89 | 90.48 | 17.62 | -9.52 | 9.52 | -58.73 | 0 | 7.49 | -9.98 | -41.07 |
| 21Q2 (10) | 60.28 | 8.2 | 6.84 | 6.98 | 164.69 | 137.67 | 9.46 | 188.08 | 160.64 | 8.77 | 182.66 | 150.55 | 3.30 | 199.4 | 174.83 | 2.11 | 208.76 | 174.82 | 0.23 | 21.05 | 35.29 | 11.76 | 266.1 | 201.91 | 61.61 | -0.6 | 15.12 | 76.92 | -23.08 | -35.22 | 23.08 | 0 | 223.08 | 8.32 | -25.18 | 0 |
| 21Q1 (9) | 55.71 | -2.43 | -5.32 | -10.79 | 18.2 | -7607.14 | -10.74 | 16.22 | -913.21 | -10.61 | 12.1 | -516.86 | -3.32 | 6.48 | -564.0 | -1.94 | 9.77 | -646.15 | 0.19 | 5.56 | 0.0 | -7.08 | 22.11 | -385.48 | 61.98 | -11.67 | 19.63 | 100.00 | -6.67 | 0 | -0.00 | 0 | -100.0 | 11.12 | 19.7 | 0 |
| 20Q4 (8) | 57.10 | -7.43 | -5.68 | -13.19 | 24.2 | -241.52 | -12.82 | 27.49 | -239.35 | -12.07 | 36.37 | -225.08 | -3.55 | 24.15 | -216.01 | -2.15 | 28.09 | -205.39 | 0.18 | 12.5 | -10.0 | -9.09 | 32.87 | -170.03 | 70.17 | 33.61 | 27.98 | 107.14 | 7.14 | 7.14 | -0.00 | 0 | 0 | 9.29 | -26.91 | 0 |
| 20Q3 (7) | 61.68 | 9.32 | 4.61 | -17.40 | 6.1 | 11.76 | -17.68 | -13.33 | 10.39 | -18.97 | -9.34 | 28.36 | -4.68 | -6.12 | 21.74 | -2.99 | -6.03 | 20.69 | 0.16 | -5.88 | 6.67 | -13.54 | -17.33 | 8.14 | 52.52 | -1.87 | -8.99 | 100.00 | -15.79 | 0.0 | -0.00 | 100.0 | 0 | 12.71 | 0 | 7.99 |
| 20Q2 (6) | 56.42 | -4.11 | -9.32 | -18.53 | -13135.71 | -3.23 | -15.60 | -1371.7 | 4.06 | -17.35 | -908.72 | -7.63 | -4.41 | -782.0 | -21.15 | -2.82 | -984.62 | -22.08 | 0.17 | -10.53 | 13.33 | -11.54 | -565.32 | -3.87 | 53.52 | 3.3 | 0.19 | 118.75 | 0 | 5.56 | -18.75 | -118.75 | -50.0 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 58.84 | -2.81 | 5.43 | -0.14 | -101.5 | 99.19 | -1.06 | -111.52 | 93.79 | -1.72 | -117.82 | 89.57 | -0.50 | -116.34 | 87.53 | -0.26 | -112.75 | 89.6 | 0.19 | -5.0 | 18.75 | 2.48 | -80.89 | 121.18 | 51.81 | -5.51 | -1.33 | 0.00 | -100.0 | -100.0 | 100.00 | 0 | 0 | 0.00 | 0 | -100.0 |
| 19Q4 (4) | 60.54 | 2.68 | 0.0 | 9.32 | 147.26 | 0.0 | 9.20 | 146.63 | 0.0 | 9.65 | 136.44 | 0.0 | 3.06 | 151.17 | 0.0 | 2.04 | 154.11 | 0.0 | 0.20 | 33.33 | 0.0 | 12.98 | 188.06 | 0.0 | 54.83 | -4.99 | 0.0 | 100.00 | 0.0 | 0.0 | -0.00 | 0 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 58.96 | -5.24 | 0.0 | -19.72 | -9.86 | 0.0 | -19.73 | -21.34 | 0.0 | -26.48 | -64.27 | 0.0 | -5.98 | -64.29 | 0.0 | -3.77 | -63.2 | 0.0 | 0.15 | 0.0 | 0.0 | -14.74 | -32.67 | 0.0 | 57.71 | 8.03 | 0.0 | 100.00 | -11.11 | 0.0 | 0.00 | 100.0 | 0.0 | 11.77 | 3.06 | 0.0 |
| 19Q2 (2) | 62.22 | 11.49 | 0.0 | -17.95 | -4.36 | 0.0 | -16.26 | 4.69 | 0.0 | -16.12 | 2.24 | 0.0 | -3.64 | 9.23 | 0.0 | -2.31 | 7.6 | 0.0 | 0.15 | -6.25 | 0.0 | -11.11 | 5.12 | 0.0 | 53.42 | 1.73 | 0.0 | 112.50 | 12.5 | 0.0 | -12.50 | 0 | 0.0 | 11.42 | 3.72 | 0.0 |
| 19Q1 (1) | 55.81 | 0.0 | 0.0 | -17.20 | 0.0 | 0.0 | -17.06 | 0.0 | 0.0 | -16.49 | 0.0 | 0.0 | -4.01 | 0.0 | 0.0 | -2.50 | 0.0 | 0.0 | 0.16 | 0.0 | 0.0 | -11.71 | 0.0 | 0.0 | 52.51 | 0.0 | 0.0 | 100.00 | 0.0 | 0.0 | -0.00 | 0.0 | 0.0 | 11.01 | 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) | 62.21 | -2.31 | 4.44 | -59.75 | 2.17 | 4.55 | 4.00 | -64.38 | 3.85 | -65.78 | 3.66 | -72.65 | 2.92 | -68.09 | 0.69 | -12.66 | 6.74 | -50.48 | 32.67 | -22.89 | 111.11 | 13.03 | -11.11 | 0 | 0.15 | 0 | 11.13 | 33.61 |
| 2022 (9) | 63.68 | 7.55 | 11.03 | 46.68 | 2.08 | -1.06 | 11.23 | 31.5 | 11.25 | 37.87 | 13.38 | 12.15 | 9.15 | 21.84 | 0.79 | -11.24 | 13.61 | 23.39 | 42.37 | -27.3 | 98.31 | 12.02 | 1.69 | -86.16 | 0.00 | 0 | 8.33 | 10.04 |
| 2021 (8) | 59.21 | 1.3 | 7.52 | 0 | 2.10 | -35.3 | 8.54 | 0 | 8.16 | 0 | 11.93 | 0 | 7.51 | 0 | 0.89 | 30.88 | 11.03 | 0 | 58.28 | -16.94 | 87.76 | -15.69 | 12.24 | 0 | 0.15 | -4.58 | 7.57 | -28.38 |
| 2020 (7) | 58.45 | -1.57 | -11.76 | 0 | 3.25 | -16.69 | -11.27 | 0 | -11.98 | 0 | -13.13 | 0 | -7.86 | 0 | 0.68 | 7.94 | -7.42 | 0 | 70.17 | 27.98 | 104.08 | 1.66 | -4.08 | 0 | 0.16 | 3.84 | 10.57 | 12.81 |
| 2019 (6) | 59.38 | 12.7 | -9.96 | 0 | 3.90 | -30.6 | -9.58 | 0 | -10.73 | 0 | -10.57 | 0 | -6.43 | 0 | 0.63 | -1.56 | -5.05 | 0 | 54.83 | -6.94 | 102.38 | 51.21 | -4.76 | 0 | 0.15 | -42.91 | 9.37 | -10.85 |
| 2018 (5) | 52.69 | 6.08 | -12.19 | 0 | 5.62 | -19.63 | -17.98 | 0 | -17.77 | 0 | -18.56 | 0 | -11.08 | 0 | 0.64 | 45.45 | -11.61 | 0 | 58.92 | -10.89 | 67.71 | -31.6 | 32.29 | 3080.73 | 0.27 | 0 | 10.51 | -43.31 |
| 2017 (4) | 49.67 | -16.79 | -37.92 | 0 | 6.99 | 32.12 | -38.29 | 0 | -39.48 | 0 | -30.80 | 0 | -17.07 | 0 | 0.44 | -15.38 | -29.90 | 0 | 66.12 | -19.6 | 98.98 | 67.04 | 1.02 | -97.51 | 0.00 | 0 | 18.54 | 37.23 |
| 2016 (3) | 59.69 | -6.27 | -4.27 | 0 | 5.29 | 27.14 | -7.12 | 0 | -7.06 | 0 | -6.68 | 0 | -3.16 | 0 | 0.52 | -8.77 | -0.53 | 0 | 82.24 | 2.34 | 59.26 | -48.86 | 40.74 | 0 | 0.00 | 0 | 13.51 | 4.81 |
| 2015 (2) | 63.68 | 4.91 | 8.72 | -11.65 | 4.16 | 13.31 | 7.55 | -16.3 | 5.84 | -19.89 | 5.96 | -21.68 | 3.90 | -18.92 | 0.57 | 0.0 | 13.08 | -7.23 | 80.36 | 0.59 | 115.87 | 6.1 | -15.87 | 0 | 0.00 | 0 | 12.89 | 8.5 |
| 2014 (1) | 60.70 | 0 | 9.87 | 0 | 3.67 | 16.27 | 9.02 | 0 | 7.29 | 0 | 7.61 | 0 | 4.81 | 0 | 0.57 | -6.56 | 14.10 | 20.93 | 79.89 | -5.06 | 109.21 | -8.03 | -9.21 | 0 | 0.00 | 0 | 11.88 | 0.51 |
