- 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) | 94.21 | -1.12 | 2.12 | 34.79 | 10.37 | 11.11 | 32.16 | -23.26 | -20.81 | 19.95 | -39.27 | -41.03 | 0.97 | -54.46 | -30.22 | 0.95 | -52.5 | -30.15 | 0.05 | -16.67 | 25.0 | 33.69 | -21.06 | -20.56 | 2.36 | 21.03 | -3.28 | 108.33 | 43.06 | 38.67 | -8.33 | -133.01 | -135.56 | 15.84 | 35.04 | -23.11 |
| 23Q3 (19) | 95.28 | 3.12 | 4.36 | 31.52 | -1.99 | 153.17 | 41.91 | -3.61 | -36.18 | 32.85 | -27.37 | -41.83 | 2.13 | 9.23 | -8.19 | 2.00 | 9.29 | -6.98 | 0.06 | 50.0 | 50.0 | 42.68 | -5.53 | -36.39 | 1.95 | -83.19 | -25.57 | 75.73 | 2.88 | 306.54 | 25.24 | -4.34 | -68.6 | 11.73 | -30.39 | -34.76 |
| 23Q2 (18) | 92.40 | 0.54 | -0.24 | 32.16 | -33.24 | -44.79 | 43.48 | -28.56 | -30.41 | 45.23 | -6.43 | -6.41 | 1.95 | -6.25 | -6.25 | 1.83 | -9.85 | -5.67 | 0.04 | 0.0 | 0.0 | 45.18 | -27.71 | -28.82 | 11.60 | 379.34 | -9.59 | 73.61 | -7.3 | -21.08 | 26.39 | 28.17 | 292.06 | 16.85 | -2.38 | 1.75 |
| 23Q1 (17) | 91.90 | -0.38 | -1.52 | 48.17 | 53.85 | -28.08 | 60.86 | 49.86 | -13.22 | 48.34 | 42.89 | -13.26 | 2.08 | 49.64 | -14.4 | 2.03 | 49.26 | -14.71 | 0.04 | 0.0 | 0.0 | 62.50 | 47.37 | -12.29 | 2.42 | -0.82 | 21.61 | 79.41 | 1.65 | -17.19 | 20.59 | -12.16 | 402.35 | 17.26 | -16.21 | 17.02 |
| 22Q4 (16) | 92.25 | 1.04 | -4.18 | 31.31 | 151.49 | -52.81 | 40.61 | -38.16 | -40.57 | 33.83 | -40.09 | -38.18 | 1.39 | -40.09 | -51.57 | 1.36 | -36.74 | -51.6 | 0.04 | 0.0 | -20.0 | 42.41 | -36.8 | -38.64 | 2.44 | -6.87 | 9.42 | 78.12 | 319.41 | -19.56 | 23.44 | -70.85 | 714.45 | 20.60 | 14.57 | 44.97 |
| 22Q3 (15) | 91.30 | -1.43 | -3.1 | 12.45 | -78.63 | -77.67 | 65.67 | 5.11 | 13.07 | 56.47 | 16.84 | 36.73 | 2.32 | 11.54 | 26.78 | 2.15 | 10.82 | 20.79 | 0.04 | 0.0 | 0.0 | 67.10 | 5.72 | 13.12 | 2.62 | -79.58 | 29.06 | 18.63 | -80.03 | -80.62 | 80.39 | 1094.4 | 1970.1 | 17.98 | 8.57 | 18.06 |
| 22Q2 (14) | 92.62 | -0.75 | -1.1 | 58.25 | -13.03 | -2.08 | 62.48 | -10.91 | -52.63 | 48.33 | -13.28 | -53.83 | 2.08 | -14.4 | -48.13 | 1.94 | -18.49 | -49.87 | 0.04 | 0.0 | 0.0 | 63.47 | -10.93 | -52.47 | 12.83 | 544.72 | 279.59 | 93.27 | -2.74 | 107.38 | 6.73 | 64.23 | -87.77 | 16.56 | 12.27 | -11.35 |
| 22Q1 (13) | 93.32 | -3.06 | 1.38 | 66.98 | 0.95 | 124.16 | 70.13 | 2.63 | -14.18 | 55.73 | 1.85 | -14.85 | 2.43 | -15.33 | 29.95 | 2.38 | -15.3 | 32.96 | 0.04 | -20.0 | 33.33 | 71.26 | 3.1 | -14.78 | 1.99 | -10.76 | -55.18 | 95.90 | -1.26 | 160.3 | 4.10 | 42.42 | -93.51 | 14.75 | 3.8 | -28.57 |
| 21Q4 (12) | 96.27 | 2.18 | -2.58 | 66.35 | 18.99 | -25.65 | 68.33 | 17.65 | -17.94 | 54.72 | 32.49 | -17.66 | 2.87 | 56.83 | -79.41 | 2.81 | 57.87 | -78.95 | 0.05 | 25.0 | -75.0 | 69.12 | 16.52 | -17.44 | 2.23 | 9.85 | -54.3 | 97.12 | 1.05 | -9.38 | 2.88 | -25.9 | 140.1 | 14.21 | -6.7 | 130.68 |
| 21Q3 (11) | 94.22 | 0.61 | 4.93 | 55.76 | -6.27 | 31.29 | 58.08 | -55.97 | 126.61 | 41.30 | -60.55 | 114.88 | 1.83 | -54.36 | 245.28 | 1.78 | -54.01 | 256.0 | 0.04 | 0.0 | 33.33 | 59.32 | -55.58 | 103.36 | 2.03 | -39.94 | -48.99 | 96.12 | 113.71 | -41.39 | 3.88 | -92.94 | 106.07 | 15.23 | -18.47 | -28.83 |
| 21Q2 (10) | 93.65 | 1.74 | 4.35 | 59.49 | 99.1 | 50.15 | 131.90 | 61.4 | 904.57 | 104.68 | 59.94 | 556.3 | 4.01 | 114.44 | 878.05 | 3.87 | 116.2 | 892.31 | 0.04 | 33.33 | 100.0 | 133.54 | 59.7 | 701.08 | 3.38 | -23.87 | -48.55 | 44.98 | 22.08 | -85.01 | 55.02 | -12.88 | 127.51 | 18.68 | -9.54 | -18.99 |
| 21Q1 (9) | 92.05 | -6.85 | 3.09 | 29.88 | -66.52 | -20.68 | 81.72 | -1.86 | 11.81 | 65.45 | -1.52 | 12.24 | 1.87 | -86.59 | 34.53 | 1.79 | -86.59 | 33.58 | 0.03 | -85.0 | 50.0 | 83.62 | -0.12 | 8.06 | 4.44 | -9.02 | 6.22 | 36.84 | -65.62 | -29.77 | 63.16 | 980.18 | 28.42 | 20.65 | 235.23 | -15.54 |
| 20Q4 (8) | 98.82 | 10.06 | 9.57 | 89.24 | 110.12 | 714.98 | 83.27 | 224.89 | 236.17 | 66.46 | 245.79 | 234.73 | 13.94 | 2530.19 | 1415.09 | 13.35 | 2570.0 | 1421.78 | 0.20 | 566.67 | 900.0 | 83.72 | 187.01 | 246.03 | 4.88 | 22.61 | 5.86 | 107.18 | -34.65 | 716.26 | -7.18 | 88.79 | -106.11 | 6.16 | -71.21 | -80.28 |
| 20Q3 (7) | 89.79 | 0.04 | -0.08 | 42.47 | 7.19 | 166.94 | 25.63 | 95.2 | -29.3 | 19.22 | 20.5 | -33.77 | 0.53 | 29.27 | -22.06 | 0.50 | 28.21 | -20.63 | 0.03 | 50.0 | 50.0 | 29.17 | 74.99 | -22.83 | 3.98 | -39.42 | -16.03 | 164.00 | -45.33 | 278.46 | -64.00 | 68.0 | -212.94 | 21.40 | -7.2 | -34.11 |
| 20Q2 (6) | 89.75 | 0.52 | 0.59 | 39.62 | 5.18 | 4791.36 | 13.13 | -82.04 | -66.78 | 15.95 | -72.65 | -55.66 | 0.41 | -70.5 | -49.38 | 0.39 | -70.9 | -48.68 | 0.02 | 0.0 | 0.0 | 16.67 | -78.46 | -59.59 | 6.57 | 57.18 | -23.25 | 300.00 | 471.87 | 9200.0 | -200.00 | -506.67 | -300.0 | 23.06 | -5.69 | -41.5 |
| 20Q1 (5) | 89.29 | -1.0 | -1.06 | 37.67 | 244.02 | 172.18 | 73.09 | 219.53 | 65.32 | 58.31 | 218.2 | 67.03 | 1.39 | 231.13 | 87.84 | 1.34 | 232.67 | 86.11 | 0.02 | 0.0 | 0.0 | 77.38 | 234.97 | 67.67 | 4.18 | -9.33 | 4.24 | 52.46 | 401.64 | 62.15 | 49.18 | -58.11 | -30.33 | 24.45 | -21.73 | -20.07 |
| 19Q4 (4) | 90.19 | 0.37 | 0.0 | 10.95 | -31.18 | 0.0 | -61.15 | -268.69 | 0.0 | -49.33 | -269.99 | 0.0 | -1.06 | -255.88 | 0.0 | -1.01 | -260.32 | 0.0 | 0.02 | 0.0 | 0.0 | -57.33 | -251.67 | 0.0 | 4.61 | -2.74 | 0.0 | -17.39 | -140.13 | 0.0 | 117.39 | 107.16 | 0.0 | 31.24 | -3.82 | 0.0 |
| 19Q3 (3) | 89.86 | 0.72 | 0.0 | 15.91 | 1864.2 | 0.0 | 36.25 | -8.3 | 0.0 | 29.02 | -19.32 | 0.0 | 0.68 | -16.05 | 0.0 | 0.63 | -17.11 | 0.0 | 0.02 | 0.0 | 0.0 | 37.80 | -8.36 | 0.0 | 4.74 | -44.63 | 0.0 | 43.33 | 1243.33 | 0.0 | 56.67 | -43.33 | 0.0 | 32.48 | -17.61 | 0.0 |
| 19Q2 (2) | 89.22 | -1.14 | 0.0 | 0.81 | -94.15 | 0.0 | 39.53 | -10.59 | 0.0 | 35.97 | 3.04 | 0.0 | 0.81 | 9.46 | 0.0 | 0.76 | 5.56 | 0.0 | 0.02 | 0.0 | 0.0 | 41.25 | -10.62 | 0.0 | 8.56 | 113.47 | 0.0 | 3.23 | -90.03 | 0.0 | 100.00 | 41.67 | 0.0 | 39.42 | 28.87 | 0.0 |
| 19Q1 (1) | 90.25 | 0.0 | 0.0 | 13.84 | 0.0 | 0.0 | 44.21 | 0.0 | 0.0 | 34.91 | 0.0 | 0.0 | 0.74 | 0.0 | 0.0 | 0.72 | 0.0 | 0.0 | 0.02 | 0.0 | 0.0 | 46.15 | 0.0 | 0.0 | 4.01 | 0.0 | 0.0 | 32.35 | 0.0 | 0.0 | 70.59 | 0.0 | 0.0 | 30.59 | 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) | 93.66 | 1.35 | 36.11 | -16.43 | 1.04 | -14.84 | 44.03 | -26.58 | 35.78 | -26.56 | 7.10 | -12.99 | 6.94 | -13.03 | 0.19 | 18.75 | 45.18 | -26.31 | 2.36 | -3.28 | 81.95 | 13.52 | 18.05 | -35.69 | 0.05 | -33.11 | 15.05 | -13.46 |
| 2022 (9) | 92.41 | -2.05 | 43.21 | -21.99 | 1.22 | -19.88 | 59.97 | -28.0 | 48.72 | -25.12 | 8.16 | -23.88 | 7.98 | -22.9 | 0.16 | 0.0 | 61.31 | -27.78 | 2.44 | 9.42 | 72.19 | 8.39 | 28.06 | -16.43 | 0.08 | 52.23 | 17.39 | 4.13 |
| 2021 (8) | 94.34 | -2.21 | 55.39 | -27.76 | 1.53 | 34.35 | 83.29 | 16.88 | 65.06 | 13.7 | 10.72 | -33.54 | 10.35 | -32.79 | 0.16 | -40.74 | 84.89 | 17.19 | 2.23 | -54.3 | 66.61 | -38.16 | 33.58 | 0 | 0.05 | 108.99 | 16.70 | 60.12 |
| 2020 (7) | 96.47 | 7.34 | 76.68 | 638.73 | 1.14 | -49.03 | 71.26 | 350.44 | 57.22 | 322.29 | 16.13 | 1255.46 | 15.40 | 1250.88 | 0.27 | 237.5 | 72.44 | 306.28 | 4.88 | 5.86 | 107.71 | 63.2 | -7.58 | 0 | 0.02 | 0 | 10.43 | -68.84 |
| 2019 (6) | 89.87 | -6.0 | 10.38 | -28.22 | 2.23 | 117.73 | 15.82 | -71.65 | 13.55 | -69.27 | 1.19 | -65.0 | 1.14 | -64.92 | 0.08 | 14.29 | 17.83 | -68.72 | 4.61 | 11.62 | 66.00 | 157.71 | 34.00 | -53.92 | 0.00 | 0 | 33.47 | -12.18 |
| 2018 (5) | 95.61 | -4.07 | 14.46 | -79.86 | 1.02 | 191.47 | 55.81 | -4.14 | 44.09 | -2.76 | 3.40 | -66.14 | 3.25 | -66.11 | 0.07 | -66.67 | 57.00 | -2.65 | 4.13 | -19.18 | 25.61 | -79.24 | 73.78 | 0 | 0.03 | 0 | 38.11 | 173.39 |
| 2017 (4) | 99.67 | -0.15 | 71.80 | 0.83 | 0.35 | 32.9 | 58.22 | -21.15 | 45.34 | -25.39 | 10.04 | -49.34 | 9.59 | -49.95 | 0.21 | -34.38 | 58.55 | -20.99 | 5.11 | 21.09 | 123.34 | 27.92 | -23.34 | 0 | 0.00 | 0 | 13.94 | -14.22 |
| 2016 (3) | 99.82 | 1.19 | 71.21 | 10.35 | 0.26 | 34.01 | 73.84 | -7.98 | 60.77 | -21.77 | 19.82 | 53.05 | 19.16 | 50.27 | 0.32 | 100.0 | 74.10 | -8.14 | 4.22 | 68.13 | 96.42 | 20.01 | 3.58 | -81.79 | 0.00 | 0 | 16.25 | -0.67 |
| 2015 (2) | 98.65 | 1.76 | 64.53 | 109.44 | 0.20 | 0 | 80.24 | 47.8 | 77.68 | 43.93 | 12.95 | 195.66 | 12.75 | 193.1 | 0.16 | 100.0 | 80.67 | 47.77 | 2.51 | 304.84 | 80.34 | 40.32 | 19.66 | -54.86 | 0.00 | 0 | 16.36 | -40.38 |
| 2014 (1) | 96.94 | 0 | 30.81 | 0 | 0.00 | 0 | 54.29 | 0 | 53.97 | 0 | 4.38 | 0 | 4.35 | 0 | 0.08 | 300.0 | 54.59 | 0 | 0.62 | -34.74 | 57.26 | -51.39 | 43.55 | 0 | 0.00 | 0 | 27.44 | -90.49 |
