- 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) | 49.30 | 6.09 | 5.27 | 36.91 | 11.61 | 0.54 | 37.06 | -0.05 | 1.12 | 29.95 | -3.54 | -3.36 | 5.30 | -5.02 | -31.88 | 3.94 | -2.72 | -28.23 | 0.13 | 0.0 | -27.78 | 40.61 | -0.68 | 4.96 | 33.96 | -6.81 | -18.33 | 99.79 | 12.02 | -0.38 | 0.42 | -96.08 | 350.73 | 22.88 | 32.95 | 28.54 |
| 23Q3 (19) | 46.47 | 5.45 | -0.51 | 33.07 | 0.06 | -7.21 | 37.08 | 10.06 | -1.51 | 31.05 | 21.1 | 1.74 | 5.58 | -3.63 | -28.19 | 4.05 | 5.47 | -25.0 | 0.13 | -13.33 | -27.78 | 40.89 | 12.18 | 3.08 | 36.44 | -8.76 | -13.91 | 89.08 | -9.08 | -5.85 | 10.70 | 487.24 | 98.79 | 17.21 | 18.44 | 13.15 |
| 23Q2 (18) | 44.07 | -4.86 | -1.06 | 33.05 | -11.3 | -6.64 | 33.69 | -11.99 | -4.61 | 25.64 | -18.81 | -8.03 | 5.79 | -29.73 | -27.62 | 3.84 | -29.28 | -26.44 | 0.15 | -11.76 | -21.05 | 36.45 | -10.11 | -1.91 | 39.94 | -36.75 | -13.25 | 97.98 | 0.6 | -2.2 | 1.82 | -30.13 | 1125.71 | 14.53 | 11.17 | 13.69 |
| 23Q1 (17) | 46.32 | -1.09 | 11.05 | 37.26 | 1.5 | 21.53 | 38.28 | 4.45 | 18.99 | 31.58 | 1.9 | 21.6 | 8.24 | 5.91 | 24.66 | 5.43 | -1.09 | 26.57 | 0.17 | -5.56 | 0.0 | 40.55 | 4.81 | 18.39 | 63.15 | 51.88 | 2.43 | 97.39 | -2.77 | 2.22 | 2.61 | 1659.2 | -44.75 | 13.07 | -26.57 | -3.4 |
| 22Q4 (16) | 46.83 | 0.26 | 8.78 | 36.71 | 3.0 | 26.85 | 36.65 | -2.66 | 22.09 | 30.99 | 1.54 | 22.49 | 7.78 | 0.13 | 18.78 | 5.49 | 1.67 | 33.25 | 0.18 | 0.0 | 12.5 | 38.69 | -2.47 | 15.67 | 41.58 | -1.77 | -11.98 | 100.17 | 5.86 | 3.82 | -0.17 | -103.11 | -104.75 | 17.80 | 17.03 | 8.74 |
| 22Q3 (15) | 46.71 | 4.87 | 7.58 | 35.64 | 0.68 | 7.03 | 37.65 | 6.6 | 14.47 | 30.52 | 9.47 | 13.97 | 7.77 | -2.88 | -13.57 | 5.40 | 3.45 | 5.88 | 0.18 | -5.26 | -5.26 | 39.67 | 6.75 | 12.83 | 42.33 | -8.06 | -46.32 | 94.62 | -5.55 | -6.75 | 5.38 | 3130.03 | 558.81 | 15.21 | 19.01 | -9.09 |
| 22Q2 (14) | 44.54 | 6.78 | 6.05 | 35.40 | 15.46 | 13.83 | 35.32 | 9.79 | 17.5 | 27.88 | 7.35 | 19.45 | 8.00 | 21.03 | 14.29 | 5.22 | 21.68 | 23.99 | 0.19 | 11.76 | 5.56 | 37.16 | 8.5 | 15.22 | 46.04 | -25.32 | -38.49 | 100.18 | 5.14 | -3.41 | -0.18 | -103.76 | 94.69 | 12.78 | -5.54 | -20.62 |
| 22Q1 (13) | 41.71 | -3.11 | -6.52 | 30.66 | 5.94 | -2.94 | 32.17 | 7.16 | 4.01 | 25.97 | 2.65 | 3.38 | 6.61 | 0.92 | 1.54 | 4.29 | 4.13 | 6.45 | 0.17 | 6.25 | 6.25 | 34.25 | 2.39 | 2.48 | 61.65 | 30.5 | 5.06 | 95.28 | -1.24 | -6.7 | 4.72 | 34.1 | 322.74 | 13.53 | -17.35 | -20.36 |
| 21Q4 (12) | 43.05 | -0.85 | 8.74 | 28.94 | -13.09 | -6.98 | 30.02 | -8.73 | 0.3 | 25.30 | -5.53 | -2.39 | 6.55 | -27.14 | -20.02 | 4.12 | -19.22 | -13.45 | 0.16 | -15.79 | -11.11 | 33.45 | -4.86 | 8.67 | 47.24 | -40.1 | -28.05 | 96.48 | -4.91 | -7.12 | 3.52 | 400.0 | 190.79 | 16.37 | -2.15 | -11.7 |
| 21Q3 (11) | 43.42 | 3.38 | 41.34 | 33.30 | 7.07 | 68.01 | 32.89 | 9.41 | 81.41 | 26.78 | 14.74 | 65.62 | 8.99 | 28.43 | 113.54 | 5.10 | 21.14 | 118.88 | 0.19 | 5.56 | 35.71 | 35.16 | 9.02 | 55.71 | 78.86 | 5.36 | -2.71 | 101.47 | -2.17 | -7.05 | -1.17 | 64.94 | 87.2 | 16.73 | 3.91 | -10.05 |
| 21Q2 (10) | 42.00 | -5.87 | -8.4 | 31.10 | -1.55 | -1.64 | 30.06 | -2.81 | 6.11 | 23.34 | -7.09 | 3.96 | 7.00 | 7.53 | 14.19 | 4.21 | 4.47 | 18.59 | 0.18 | 12.5 | 12.5 | 32.25 | -3.5 | 4.91 | 74.85 | 27.56 | -13.68 | 103.72 | 1.57 | -7.18 | -3.35 | -57.92 | 71.49 | 16.10 | -5.24 | 9.38 |
| 21Q1 (9) | 44.62 | 12.71 | 0 | 31.59 | 1.54 | 0 | 30.93 | 3.34 | 0 | 25.12 | -3.09 | 0 | 6.51 | -20.51 | 0 | 4.03 | -15.34 | 0 | 0.16 | -11.11 | 0 | 33.42 | 8.58 | 0 | 58.68 | -10.63 | 0 | 102.12 | -1.69 | 0 | -2.12 | 45.34 | 0 | 16.99 | -8.36 | 0 |
| 20Q4 (8) | 39.59 | 28.87 | 0 | 31.11 | 56.96 | 0 | 29.93 | 65.09 | 0 | 25.92 | 60.3 | 0 | 8.19 | 94.54 | 0 | 4.76 | 104.29 | 0 | 0.18 | 28.57 | 0 | 30.78 | 36.32 | 0 | 65.66 | -19.0 | 0 | 103.88 | -4.85 | 0 | -3.88 | 57.72 | 0 | 18.54 | -0.32 | 0 |
| 20Q3 (7) | 30.72 | -33.0 | 0 | 19.82 | -37.32 | 0 | 18.13 | -36.0 | 0 | 16.17 | -27.97 | 0 | 4.21 | -31.32 | 0 | 2.33 | -34.37 | 0 | 0.14 | -12.5 | 0 | 22.58 | -26.55 | 0 | 81.06 | -6.52 | 0 | 109.17 | -2.3 | 0 | -9.17 | 21.88 | 0 | 18.60 | 26.36 | 0 |
| 20Q2 (6) | 45.85 | 0 | 0 | 31.62 | 0 | 0 | 28.33 | 0 | 0 | 22.45 | 0 | 0 | 6.13 | 0 | 0 | 3.55 | 0 | 0 | 0.16 | 0 | 0 | 30.74 | 0 | 0 | 86.71 | 0 | 0 | 111.73 | 0 | 0 | -11.73 | 0 | 0 | 14.72 | 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) | 46.45 | 3.11 | 35.19 | 1.3 | 2.86 | 56.94 | 36.56 | 2.87 | 29.57 | 2.21 | 23.75 | -17.99 | 17.31 | -13.97 | 0.58 | -15.94 | 39.62 | 5.54 | 33.96 | -18.33 | 96.25 | -1.49 | 3.75 | 63.57 | 0.07 | -4.42 | 16.57 | 11.28 |
| 2022 (9) | 45.05 | 4.23 | 34.74 | 11.52 | 1.82 | -23.96 | 35.54 | 14.68 | 28.93 | 14.76 | 28.96 | 25.75 | 20.12 | 33.87 | 0.69 | 15.0 | 37.54 | 11.66 | 41.58 | -11.98 | 97.71 | -2.78 | 2.29 | 0 | 0.07 | -0.19 | 14.89 | -9.92 |
| 2021 (8) | 43.22 | 16.18 | 31.15 | 22.73 | 2.40 | 0.21 | 30.99 | 29.23 | 25.21 | 25.99 | 23.03 | 18.77 | 15.03 | 24.83 | 0.60 | 0.0 | 33.62 | 25.45 | 47.24 | -28.05 | 100.51 | -5.06 | -0.51 | 0 | 0.07 | -61.32 | 16.53 | -11.18 |
| 2020 (7) | 37.20 | -2.18 | 25.38 | 3.8 | 2.39 | -4.77 | 23.98 | 2.13 | 20.01 | 4.6 | 19.39 | -2.86 | 12.04 | -3.91 | 0.60 | -7.69 | 26.80 | 1.13 | 65.66 | 10.54 | 105.86 | 1.68 | -5.86 | 0 | 0.19 | 0 | 18.61 | -1.74 |
| 2019 (6) | 38.03 | -8.78 | 24.45 | -14.93 | 2.51 | 10.92 | 23.48 | -22.66 | 19.13 | -8.21 | 19.96 | -11.41 | 12.53 | -14.88 | 0.65 | -7.14 | 26.50 | -19.99 | 59.40 | -6.95 | 104.12 | 9.89 | -4.12 | 0 | 0.00 | 0 | 18.94 | 6.05 |
| 2018 (5) | 41.69 | -15.16 | 28.74 | -18.4 | 2.27 | 0.1 | 30.36 | -9.45 | 20.84 | -19.26 | 22.53 | -31.44 | 14.72 | -33.21 | 0.70 | -17.65 | 33.12 | -7.82 | 63.84 | 51.93 | 94.74 | -9.82 | 5.39 | 0 | 0.00 | 0 | 17.86 | -5.1 |
| 2017 (4) | 49.14 | 0 | 35.22 | 0 | 2.26 | 0 | 33.53 | 0 | 25.81 | 0 | 32.86 | 0 | 22.04 | 0 | 0.85 | 0 | 35.93 | 0 | 42.02 | -29.02 | 105.06 | 0 | -5.06 | 0 | 0.00 | 0 | 18.82 | 0 |
| 2016 (3) | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 59.20 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 |
