- 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) | 30.81 | 0.98 | 2.8 | 1.96 | 66.1 | 21.74 | 1.01 | -7.34 | -17.89 | 0.64 | -17.95 | -35.35 | 0.88 | -12.87 | -36.23 | 0.33 | -5.71 | -19.51 | 0.26 | 4.0 | -3.7 | 11.01 | -5.82 | -3.59 | 425.37 | -1.93 | -5.87 | 195.00 | 77.27 | 49.5 | -95.00 | -850.0 | -212.14 | 13.83 | -7.31 | -1.98 |
| 23Q3 (19) | 30.51 | 3.04 | -3.42 | 1.18 | 81.54 | -54.44 | 1.09 | 251.61 | -61.75 | 0.78 | 680.0 | -66.95 | 1.01 | 676.92 | -68.14 | 0.35 | 84.21 | -53.95 | 0.25 | -3.85 | -3.85 | 11.69 | 2.27 | -9.31 | 433.74 | 6.14 | 8.71 | 110.00 | -45.0 | 22.5 | -10.00 | 90.0 | -198.0 | 14.92 | 3.04 | 5.29 |
| 23Q2 (18) | 29.61 | -4.36 | -0.13 | 0.65 | -64.86 | -88.29 | 0.31 | -77.21 | -94.27 | 0.10 | -90.48 | -97.62 | 0.13 | -90.0 | -98.14 | 0.19 | -53.66 | -86.99 | 0.26 | 8.33 | -16.13 | 11.43 | -11.33 | -18.71 | 408.64 | 6.63 | -5.45 | 200.00 | 50.0 | 94.74 | -100.00 | -166.67 | -3600.0 | 14.48 | -4.17 | 20.47 |
| 23Q1 (17) | 30.96 | 3.3 | -0.77 | 1.85 | 14.91 | -25.4 | 1.36 | 10.57 | -44.72 | 1.05 | 6.06 | -45.31 | 1.30 | -5.8 | -49.61 | 0.41 | 0.0 | -31.67 | 0.24 | -11.11 | 0.0 | 12.89 | 12.87 | -6.46 | 383.22 | -15.19 | -10.88 | 133.33 | 2.22 | 33.33 | -37.50 | -23.21 | 0 | 15.11 | 7.09 | 0.87 |
| 22Q4 (16) | 29.97 | -5.13 | 1.94 | 1.61 | -37.84 | -46.86 | 1.23 | -56.84 | -36.6 | 0.99 | -58.05 | -22.05 | 1.38 | -56.47 | -27.75 | 0.41 | -46.05 | -12.77 | 0.27 | 3.85 | 0.0 | 11.42 | -11.4 | -2.64 | 451.88 | 13.25 | -5.18 | 130.43 | 45.26 | -16.32 | -30.43 | -398.26 | 45.54 | 14.11 | -0.42 | 11.81 |
| 22Q3 (15) | 31.59 | 6.54 | 10.3 | 2.59 | -53.33 | 1463.16 | 2.85 | -47.32 | 232.56 | 2.36 | -43.94 | 486.89 | 3.17 | -54.71 | 464.37 | 0.76 | -47.95 | 2633.33 | 0.26 | -16.13 | 0.0 | 12.89 | -8.32 | 57.39 | 399.00 | -7.68 | -10.95 | 89.80 | -12.57 | 917.69 | 10.20 | 477.55 | -88.81 | 14.17 | 17.89 | 0.35 |
| 22Q2 (14) | 29.65 | -4.97 | 3.13 | 5.55 | 123.79 | 206.63 | 5.41 | 119.92 | 258.28 | 4.21 | 119.27 | 155.15 | 7.00 | 171.32 | 174.51 | 1.46 | 143.33 | 139.34 | 0.31 | 29.17 | 3.33 | 14.06 | 2.03 | 33.27 | 432.21 | 0.51 | -1.34 | 102.70 | 2.7 | -17.18 | -2.70 | 0 | 86.49 | 12.02 | -19.76 | -8.17 |
| 22Q1 (13) | 31.20 | 6.12 | -0.03 | 2.48 | -18.15 | 14.29 | 2.46 | 26.8 | 8.85 | 1.92 | 51.18 | 10.98 | 2.58 | 35.08 | 10.26 | 0.60 | 27.66 | 1.69 | 0.24 | -11.11 | -11.11 | 13.78 | 17.48 | 19.2 | 430.01 | -9.77 | 8.52 | 100.00 | -35.85 | 6.25 | 0.00 | 100.0 | -100.0 | 14.98 | 18.7 | -1.25 |
| 21Q4 (12) | 29.40 | 2.65 | -4.23 | 3.03 | 1694.74 | -13.68 | 1.94 | 190.23 | -26.79 | 1.27 | 308.2 | -37.13 | 1.91 | 319.54 | -37.17 | 0.47 | 1666.67 | -35.62 | 0.27 | 3.85 | -10.0 | 11.73 | 43.22 | -1.26 | 476.57 | 6.36 | 18.91 | 155.88 | 1666.67 | 17.6 | -55.88 | -161.29 | -71.64 | 12.62 | -10.62 | -1.87 |
| 21Q3 (11) | 28.64 | -0.38 | -4.66 | -0.19 | -110.5 | -116.67 | -2.15 | -242.38 | -425.76 | -0.61 | -136.97 | -256.41 | -0.87 | -134.12 | -258.18 | -0.03 | -104.92 | -113.04 | 0.26 | -13.33 | -7.14 | 8.19 | -22.37 | -18.18 | 448.06 | 2.28 | 11.16 | 8.82 | -92.88 | -94.81 | 91.18 | 555.88 | 230.25 | 14.12 | 7.87 | -2.28 |
| 21Q2 (10) | 28.75 | -7.88 | -4.55 | 1.81 | -16.59 | 40.31 | 1.51 | -33.19 | 71.59 | 1.65 | -4.62 | 47.32 | 2.55 | 8.97 | 80.85 | 0.61 | 3.39 | 64.86 | 0.30 | 11.11 | 11.11 | 10.55 | -8.74 | 6.24 | 438.08 | 10.56 | 6.73 | 124.00 | 31.75 | -17.33 | -20.00 | -780.0 | 60.0 | 13.09 | -13.71 | 0 |
| 21Q1 (9) | 31.21 | 1.66 | -3.31 | 2.17 | -38.18 | -48.09 | 2.26 | -14.72 | -50.76 | 1.73 | -14.36 | -50.85 | 2.34 | -23.03 | -50.42 | 0.59 | -19.18 | -46.85 | 0.27 | -10.0 | -10.0 | 11.56 | -2.69 | -10.94 | 396.24 | -1.13 | 19.09 | 94.12 | -29.0 | 3.53 | 2.94 | 109.03 | -67.65 | 15.17 | 17.96 | 0 |
| 20Q4 (8) | 30.70 | 2.2 | -0.16 | 3.51 | 207.89 | 4.78 | 2.65 | 301.52 | -23.19 | 2.02 | 417.95 | -23.77 | 3.04 | 452.73 | -24.38 | 0.73 | 217.39 | -16.09 | 0.30 | 7.14 | -6.25 | 11.88 | 18.68 | 10.2 | 400.77 | -0.57 | 7.26 | 132.56 | -22.02 | 35.26 | -32.56 | 53.49 | -1727.91 | 12.86 | -11.0 | -1.83 |
| 20Q3 (7) | 30.04 | -0.27 | -2.69 | 1.14 | -11.63 | -60.14 | 0.66 | -25.0 | -78.0 | 0.39 | -65.18 | -83.47 | 0.55 | -60.99 | -83.82 | 0.23 | -37.84 | -72.29 | 0.28 | 3.7 | -9.68 | 10.01 | 0.81 | -10.94 | 403.07 | -1.8 | 6.61 | 170.00 | 13.33 | 78.95 | -70.00 | -40.0 | -1500.0 | 14.45 | 0 | 4.56 |
| 20Q2 (6) | 30.12 | -6.69 | -0.3 | 1.29 | -69.14 | -56.42 | 0.88 | -80.83 | -73.57 | 1.12 | -68.18 | -57.41 | 1.41 | -70.13 | -61.37 | 0.37 | -66.67 | -58.43 | 0.27 | -10.0 | -12.9 | 9.93 | -23.5 | -8.56 | 410.44 | 23.36 | 14.25 | 150.00 | 65.0 | 69.74 | -50.00 | -650.0 | -530.0 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 32.28 | 4.98 | 0.4 | 4.18 | 24.78 | 4.5 | 4.59 | 33.04 | 23.39 | 3.52 | 32.83 | 18.92 | 4.72 | 17.41 | 21.96 | 1.11 | 27.59 | 2.78 | 0.30 | -6.25 | -11.76 | 12.98 | 20.41 | 16.1 | 332.71 | -10.96 | 0.99 | 90.91 | -7.24 | -16.51 | 9.09 | 354.55 | 236.36 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 30.75 | -0.39 | 0.0 | 3.35 | 17.13 | 0.0 | 3.45 | 15.0 | 0.0 | 2.65 | 12.29 | 0.0 | 4.02 | 18.24 | 0.0 | 0.87 | 4.82 | 0.0 | 0.32 | 3.23 | 0.0 | 10.78 | -4.09 | 0.0 | 373.66 | -1.17 | 0.0 | 98.00 | 3.16 | 0.0 | 2.00 | -60.0 | 0.0 | 13.10 | -5.21 | 0.0 |
| 19Q3 (3) | 30.87 | 2.18 | 0.0 | 2.86 | -3.38 | 0.0 | 3.00 | -9.91 | 0.0 | 2.36 | -10.27 | 0.0 | 3.40 | -6.85 | 0.0 | 0.83 | -6.74 | 0.0 | 0.31 | 0.0 | 0.0 | 11.24 | 3.5 | 0.0 | 378.08 | 5.24 | 0.0 | 95.00 | 7.5 | 0.0 | 5.00 | -57.0 | 0.0 | 13.82 | 1.99 | 0.0 |
| 19Q2 (2) | 30.21 | -6.03 | 0.0 | 2.96 | -26.0 | 0.0 | 3.33 | -10.48 | 0.0 | 2.63 | -11.15 | 0.0 | 3.65 | -5.68 | 0.0 | 0.89 | -17.59 | 0.0 | 0.31 | -8.82 | 0.0 | 10.86 | -2.86 | 0.0 | 359.26 | 9.05 | 0.0 | 88.37 | -18.84 | 0.0 | 11.63 | 274.42 | 0.0 | 13.55 | -5.11 | 0.0 |
| 19Q1 (1) | 32.15 | 0.0 | 0.0 | 4.00 | 0.0 | 0.0 | 3.72 | 0.0 | 0.0 | 2.96 | 0.0 | 0.0 | 3.87 | 0.0 | 0.0 | 1.08 | 0.0 | 0.0 | 0.34 | 0.0 | 0.0 | 11.18 | 0.0 | 0.0 | 329.45 | 0.0 | 0.0 | 108.89 | 0.0 | 0.0 | -6.67 | 0.0 | 0.0 | 14.28 | 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) | 30.47 | -0.2 | 1.42 | -54.92 | 9.94 | 7.8 | 0.94 | -69.38 | 0.64 | -73.66 | 3.37 | -75.56 | 1.24 | -58.25 | 0.98 | -2.97 | 11.72 | -10.12 | 425.37 | -5.87 | 151.43 | 47.44 | -51.43 | 0 | 0.35 | -25.74 | 14.56 | 6.05 |
| 2022 (9) | 30.53 | 3.63 | 3.15 | 82.08 | 9.22 | 3.24 | 3.07 | 241.11 | 2.43 | 140.59 | 13.79 | 136.13 | 2.97 | 89.17 | 1.01 | -5.61 | 13.04 | 24.19 | 451.88 | -5.18 | 102.70 | -46.38 | -2.70 | 0 | 0.48 | -26.42 | 13.73 | 0.29 |
| 2021 (8) | 29.46 | -4.29 | 1.73 | -32.42 | 8.93 | 5.64 | 0.90 | -59.09 | 1.01 | -42.61 | 5.84 | -41.89 | 1.57 | -35.92 | 1.07 | -8.55 | 10.50 | -6.42 | 476.57 | 18.91 | 191.53 | 66.16 | -91.53 | 0 | 0.65 | -27.6 | 13.69 | -3.93 |
| 2020 (7) | 30.78 | -0.61 | 2.56 | -21.95 | 8.45 | 17.08 | 2.20 | -34.72 | 1.76 | -33.33 | 10.05 | -32.05 | 2.45 | -37.02 | 1.17 | -13.97 | 11.22 | 1.91 | 400.77 | 7.26 | 115.27 | 18.58 | -16.03 | 0 | 0.89 | 26.56 | 14.25 | 4.32 |
| 2019 (6) | 30.97 | -0.29 | 3.28 | -0.3 | 7.22 | 340.11 | 3.37 | 5.31 | 2.64 | 8.64 | 14.79 | 17.66 | 3.89 | -1.52 | 1.36 | -11.69 | 11.01 | 108.13 | 373.66 | 53.27 | 97.21 | -5.35 | 2.79 | 0 | 0.71 | -44.69 | 13.66 | 1.49 |
| 2018 (5) | 31.06 | 2.78 | 3.29 | 25.1 | 1.64 | 5.87 | 3.20 | 23.55 | 2.43 | 18.54 | 12.57 | 8.46 | 3.95 | 4.77 | 1.54 | -7.23 | 5.29 | 13.28 | 243.79 | 5.5 | 102.70 | 0.9 | -2.70 | 0 | 1.28 | 0 | 13.46 | 2.83 |
| 2017 (4) | 30.22 | -0.72 | 2.63 | 1.15 | 1.55 | -0.49 | 2.59 | -14.8 | 2.05 | -16.67 | 11.59 | -23.9 | 3.77 | -25.79 | 1.66 | -17.41 | 4.67 | -4.5 | 231.07 | -8.46 | 101.79 | 18.91 | -1.79 | 0 | 0.00 | 0 | 13.09 | -0.68 |
| 2016 (3) | 30.44 | -0.29 | 2.60 | -26.97 | 1.56 | 9.85 | 3.04 | -21.45 | 2.46 | -21.15 | 15.23 | -18.07 | 5.08 | -28.55 | 2.01 | -9.87 | 4.89 | -10.44 | 252.42 | 53.68 | 85.60 | -6.96 | 14.40 | 80.0 | 0.00 | 0 | 13.18 | 0.38 |
| 2015 (2) | 30.53 | -1.52 | 3.56 | 22.76 | 1.42 | -16.18 | 3.87 | 15.52 | 3.12 | 15.99 | 18.59 | -2.47 | 7.11 | 10.4 | 2.23 | -4.29 | 5.46 | 5.41 | 164.25 | -3.74 | 92.00 | 6.02 | 8.00 | -39.5 | 0.00 | 0 | 13.13 | -2.16 |
| 2014 (1) | 31.00 | 0 | 2.90 | 0 | 1.69 | -6.68 | 3.35 | 0 | 2.69 | 0 | 19.06 | 0 | 6.44 | 0 | 2.33 | -2.1 | 5.18 | -10.54 | 170.63 | -34.09 | 86.78 | -4.4 | 13.22 | 43.25 | 0.00 | 0 | 13.42 | 1.67 |
