- 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) | 21.87 | 17.27 | 10.73 | 13.31 | 29.35 | 24.86 | 13.36 | 0.53 | 23.13 | 9.76 | -1.21 | 23.86 | 2.72 | 3.42 | 17.75 | 2.31 | 4.52 | 19.07 | 0.24 | 9.09 | -4.0 | 18.29 | -0.71 | 21.37 | 17.63 | -0.56 | -10.51 | 100.00 | 29.73 | 1.16 | 0.00 | -100.0 | -100.0 | 13.16 | -10.6 | -13.59 |
| 23Q3 (19) | 18.65 | 2.3 | 5.25 | 10.29 | -0.96 | -5.86 | 13.29 | 10.47 | -0.08 | 9.88 | 17.76 | 1.75 | 2.63 | 28.92 | -10.85 | 2.21 | 28.49 | -11.24 | 0.22 | 4.76 | -15.38 | 18.42 | 6.23 | 6.6 | 17.73 | -16.92 | -5.09 | 77.08 | -10.8 | -5.4 | 22.92 | 68.75 | 30.26 | 14.72 | -1.01 | 12.28 |
| 23Q2 (18) | 18.23 | -10.02 | -12.31 | 10.39 | -16.75 | -23.99 | 12.03 | -10.16 | -19.37 | 8.39 | -16.77 | -22.24 | 2.04 | -18.73 | -32.89 | 1.72 | -19.25 | -33.07 | 0.21 | 0.0 | -12.5 | 17.34 | -4.67 | -8.54 | 21.34 | 32.14 | 16.87 | 86.42 | -7.62 | -5.11 | 13.58 | 110.49 | 69.0 | 14.87 | 2.91 | 7.52 |
| 23Q1 (17) | 20.26 | 2.58 | 4.92 | 12.48 | 17.07 | -2.88 | 13.39 | 23.41 | -6.56 | 10.08 | 27.92 | -6.23 | 2.51 | 8.66 | -20.57 | 2.13 | 9.79 | -19.92 | 0.21 | -16.0 | -16.0 | 18.19 | 20.7 | -0.11 | 16.15 | -18.02 | -11.84 | 93.55 | -5.36 | 4.77 | 6.45 | 461.29 | -34.31 | 14.45 | -5.12 | 6.17 |
| 22Q4 (16) | 19.75 | 11.46 | 10.46 | 10.66 | -2.47 | 12.57 | 10.85 | -18.42 | 4.03 | 7.88 | -18.85 | 5.21 | 2.31 | -21.69 | 12.68 | 1.94 | -22.09 | 12.14 | 0.25 | -3.85 | 8.7 | 15.07 | -12.79 | -0.46 | 19.70 | 5.46 | -1.7 | 98.85 | 21.32 | 9.33 | 1.15 | -93.47 | -88.01 | 15.23 | 16.17 | -3.73 |
| 22Q3 (15) | 17.72 | -14.77 | 1.37 | 10.93 | -20.04 | 11.08 | 13.30 | -10.86 | 23.84 | 9.71 | -10.01 | 20.02 | 2.95 | -2.96 | 45.32 | 2.49 | -3.11 | 46.47 | 0.26 | 8.33 | 23.81 | 17.28 | -8.86 | 7.6 | 18.68 | 2.3 | 8.04 | 81.48 | -10.53 | -10.63 | 17.59 | 118.93 | 99.38 | 13.11 | -5.21 | -13.69 |
| 22Q2 (14) | 20.79 | 7.66 | 2.87 | 13.67 | 6.38 | 8.41 | 14.92 | 4.12 | 22.7 | 10.79 | 0.37 | 23.6 | 3.04 | -3.8 | 27.2 | 2.57 | -3.38 | 28.5 | 0.24 | -4.0 | 4.35 | 18.96 | 4.12 | 12.92 | 18.26 | -0.33 | -15.03 | 91.07 | 2.0 | -12.11 | 8.04 | -18.18 | 322.32 | 13.83 | 1.62 | -9.49 |
| 22Q1 (13) | 19.31 | 8.0 | -12.9 | 12.85 | 35.69 | -18.93 | 14.33 | 37.39 | -9.93 | 10.75 | 43.52 | -9.97 | 3.16 | 54.15 | -12.47 | 2.66 | 53.76 | -13.07 | 0.25 | 8.7 | -3.85 | 18.21 | 20.28 | -9.9 | 18.32 | -8.58 | 2.4 | 89.29 | -1.24 | -9.96 | 9.82 | 2.42 | 0 | 13.61 | -13.97 | 6.08 |
| 21Q4 (12) | 17.88 | 2.29 | -12.61 | 9.47 | -3.76 | -16.86 | 10.43 | -2.89 | -14.01 | 7.49 | -7.42 | -16.5 | 2.05 | 0.99 | -12.02 | 1.73 | 1.76 | -13.93 | 0.23 | 9.52 | 4.55 | 15.14 | -5.73 | -12.23 | 20.04 | 15.91 | 8.97 | 90.41 | -0.84 | -3.22 | 9.59 | 8.68 | 45.75 | 15.82 | 4.15 | -6.61 |
| 21Q3 (11) | 17.48 | -13.51 | 20.05 | 9.84 | -21.97 | 44.71 | 10.74 | -11.68 | 32.59 | 8.09 | -7.33 | 31.76 | 2.03 | -15.06 | 30.97 | 1.70 | -15.0 | 25.0 | 0.21 | -8.7 | -4.55 | 16.06 | -4.35 | 17.14 | 17.29 | -19.54 | 24.39 | 91.18 | -12.0 | 6.74 | 8.82 | 344.12 | -47.06 | 15.19 | -0.59 | 10.39 |
| 21Q2 (10) | 20.21 | -8.84 | 120.63 | 12.61 | -20.44 | 166.6 | 12.16 | -23.57 | 744.44 | 8.73 | -26.88 | 131.56 | 2.39 | -33.8 | 334.55 | 2.00 | -34.64 | 308.16 | 0.23 | -11.54 | 76.92 | 16.79 | -16.92 | 53.19 | 21.49 | 20.12 | 55.39 | 103.61 | 4.49 | -69.53 | -3.61 | 0 | 98.49 | 15.28 | 19.1 | 0 |
| 21Q1 (9) | 22.17 | 8.36 | 32.6 | 15.85 | 39.16 | 95.92 | 15.91 | 31.16 | 66.25 | 11.94 | 33.11 | 71.55 | 3.61 | 54.94 | 140.67 | 3.06 | 52.24 | 133.59 | 0.26 | 18.18 | 36.84 | 20.21 | 17.16 | 26.47 | 17.89 | -2.72 | 31.64 | 99.17 | 6.15 | 17.62 | 0.00 | -100.0 | -100.0 | 12.83 | -24.26 | 0 |
| 20Q4 (8) | 20.46 | 40.52 | 31.07 | 11.39 | 67.5 | 92.4 | 12.13 | 49.75 | 115.84 | 8.97 | 46.09 | 384.86 | 2.33 | 50.32 | 406.52 | 2.01 | 47.79 | 402.5 | 0.22 | 0.0 | 4.76 | 17.25 | 25.82 | 45.45 | 18.39 | 32.3 | 17.58 | 93.42 | 9.37 | -11.77 | 6.58 | -60.53 | 211.84 | 16.94 | 23.11 | 12.33 |
| 20Q3 (7) | 14.56 | 58.95 | -9.51 | 6.80 | 43.76 | -9.93 | 8.10 | 462.5 | -20.28 | 6.14 | 62.86 | -20.57 | 1.55 | 181.82 | -20.1 | 1.36 | 177.55 | -18.07 | 0.22 | 69.23 | 4.76 | 13.71 | 25.09 | -16.5 | 13.90 | 0.51 | -4.99 | 85.42 | -74.88 | 16.98 | 16.67 | 106.94 | -34.38 | 13.76 | 0 | -5.17 |
| 20Q2 (6) | 9.16 | -45.22 | -40.05 | 4.73 | -41.53 | -14.47 | 1.44 | -84.95 | -80.49 | 3.77 | -45.83 | -29.66 | 0.55 | -63.33 | -54.92 | 0.49 | -62.6 | -53.33 | 0.13 | -31.58 | -35.0 | 10.96 | -31.41 | -25.9 | 13.83 | 1.77 | -27.97 | 340.00 | 303.26 | 360.65 | -240.00 | -1630.0 | -1016.36 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 16.72 | 7.11 | 13.05 | 8.09 | 36.66 | 29.03 | 9.57 | 70.28 | 24.93 | 6.96 | 276.22 | 25.18 | 1.50 | 226.09 | 23.97 | 1.31 | 227.5 | 23.58 | 0.19 | -9.52 | 0.0 | 15.98 | 34.74 | 4.99 | 13.59 | -13.11 | -6.79 | 84.31 | -20.37 | 1.18 | 15.69 | 366.67 | -17.65 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 15.61 | -2.98 | 0.0 | 5.92 | -21.59 | 0.0 | 5.62 | -44.69 | 0.0 | 1.85 | -76.07 | 0.0 | 0.46 | -76.29 | 0.0 | 0.40 | -75.9 | 0.0 | 0.21 | 0.0 | 0.0 | 11.86 | -27.77 | 0.0 | 15.64 | 6.9 | 0.0 | 105.88 | 45.01 | 0.0 | -5.88 | -123.16 | 0.0 | 15.08 | 3.93 | 0.0 |
| 19Q3 (3) | 16.09 | 5.3 | 0.0 | 7.55 | 36.53 | 0.0 | 10.16 | 37.67 | 0.0 | 7.73 | 44.22 | 0.0 | 1.94 | 59.02 | 0.0 | 1.66 | 58.1 | 0.0 | 0.21 | 5.0 | 0.0 | 16.42 | 11.02 | 0.0 | 14.63 | -23.8 | 0.0 | 73.02 | -1.08 | 0.0 | 25.40 | -3.03 | 0.0 | 14.51 | -7.87 | 0.0 |
| 19Q2 (2) | 15.28 | 3.31 | 0.0 | 5.53 | -11.8 | 0.0 | 7.38 | -3.66 | 0.0 | 5.36 | -3.6 | 0.0 | 1.22 | 0.83 | 0.0 | 1.05 | -0.94 | 0.0 | 0.20 | 5.26 | 0.0 | 14.79 | -2.83 | 0.0 | 19.20 | 31.69 | 0.0 | 73.81 | -11.43 | 0.0 | 26.19 | 37.5 | 0.0 | 15.75 | -2.23 | 0.0 |
| 19Q1 (1) | 14.79 | 0.0 | 0.0 | 6.27 | 0.0 | 0.0 | 7.66 | 0.0 | 0.0 | 5.56 | 0.0 | 0.0 | 1.21 | 0.0 | 0.0 | 1.06 | 0.0 | 0.0 | 0.19 | 0.0 | 0.0 | 15.22 | 0.0 | 0.0 | 14.58 | 0.0 | 0.0 | 83.33 | 0.0 | 0.0 | 19.05 | 0.0 | 0.0 | 16.11 | 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) | 19.81 | 2.27 | 11.66 | -2.75 | 3.74 | 22.41 | 13.04 | -2.03 | 9.55 | -2.15 | 9.84 | -13.99 | 8.31 | -13.08 | 0.87 | -11.22 | 18.08 | 4.03 | 17.63 | -10.51 | 89.28 | -1.01 | 10.46 | 4.06 | 0.55 | 1.16 | 14.27 | 2.29 |
| 2022 (9) | 19.37 | -0.82 | 11.99 | -0.66 | 3.06 | -10.07 | 13.31 | 7.17 | 9.76 | 6.78 | 11.44 | 13.72 | 9.56 | 13.14 | 0.98 | 6.52 | 17.38 | 1.22 | 19.70 | -1.7 | 90.19 | -7.11 | 10.05 | 245.65 | 0.54 | -6.07 | 13.95 | -5.3 |
| 2021 (8) | 19.53 | 22.52 | 12.07 | 48.46 | 3.40 | -24.45 | 12.42 | 45.43 | 9.14 | 34.61 | 10.06 | 71.97 | 8.45 | 68.33 | 0.92 | 24.32 | 17.17 | 15.47 | 20.04 | 8.97 | 97.09 | 1.61 | 2.91 | -41.86 | 0.58 | -7.17 | 14.73 | -9.74 |
| 2020 (7) | 15.94 | 3.1 | 8.13 | 28.23 | 4.50 | -9.18 | 8.54 | 10.62 | 6.79 | 32.62 | 5.85 | 20.87 | 5.02 | 19.81 | 0.74 | -8.64 | 14.87 | 2.41 | 18.39 | 17.58 | 95.56 | 16.86 | 5.00 | -71.72 | 0.62 | -11.43 | 16.32 | 6.39 |
| 2019 (6) | 15.46 | -6.02 | 6.34 | 1.77 | 4.95 | -0.0 | 7.72 | 8.58 | 5.12 | -3.58 | 4.84 | -20.13 | 4.19 | -17.36 | 0.81 | -15.62 | 14.52 | 4.76 | 15.64 | -3.34 | 81.77 | -6.88 | 17.68 | 39.4 | 0.70 | -7.01 | 15.34 | 5.72 |
| 2018 (5) | 16.45 | -15.21 | 6.23 | -44.77 | 4.95 | -0.3 | 7.11 | -34.53 | 5.31 | -37.68 | 6.06 | -42.5 | 5.07 | -40.63 | 0.96 | -4.0 | 13.86 | -20.94 | 16.18 | -29.41 | 87.80 | -15.4 | 12.68 | 0 | 0.76 | 0 | 14.51 | -2.29 |
| 2017 (4) | 19.40 | -0.26 | 11.28 | -1.05 | 4.97 | -4.58 | 10.86 | -6.86 | 8.52 | -6.99 | 10.54 | -8.59 | 8.54 | -7.07 | 1.00 | 1.01 | 17.53 | -7.0 | 22.92 | -5.72 | 103.79 | 6.36 | -3.79 | 0 | 0.00 | 0 | 14.85 | 1.78 |
| 2016 (3) | 19.45 | 15.64 | 11.40 | 15.74 | 5.21 | -2.4 | 11.66 | 16.95 | 9.16 | 10.63 | 11.53 | 3.32 | 9.19 | 7.86 | 0.99 | -1.0 | 18.85 | 10.75 | 24.31 | -17.0 | 97.58 | -1.24 | 2.15 | 79.57 | 0.00 | 0 | 14.59 | 10.28 |
| 2015 (2) | 16.82 | 7.82 | 9.85 | 18.96 | 5.34 | -5.63 | 9.97 | 10.04 | 8.28 | 17.11 | 11.16 | 9.84 | 8.52 | 18.83 | 1.00 | 3.09 | 17.02 | 3.53 | 29.29 | -26.31 | 98.80 | 8.16 | 1.20 | -86.16 | 0.00 | 0 | 13.23 | 6.27 |
| 2014 (1) | 15.60 | 0 | 8.28 | 0 | 5.65 | -2.66 | 9.06 | 0 | 7.07 | 0 | 10.16 | 0 | 7.17 | 0 | 0.97 | 5.43 | 16.44 | 4.51 | 39.75 | -31.74 | 91.35 | 8.84 | 8.65 | -46.15 | 0.00 | 0 | 12.45 | 2.3 |
