- 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) | 30.21 | 18.19 | 37.13 | 14.28 | 67.21 | 1141.74 | 11.34 | 18.13 | 687.56 | 10.93 | 14.33 | 819.08 | 6.61 | 18.67 | 1018.06 | 2.35 | 19.9 | 5975.0 | 0.20 | 11.11 | 33.33 | 19.61 | 5.83 | 121.08 | 199.48 | -7.18 | -5.52 | 125.61 | 41.31 | 309.35 | -25.61 | -330.49 | -115.06 | 24.10 | -5.93 | -19.56 |
| 23Q3 (19) | 25.56 | 32.85 | 6.63 | 8.54 | 593.64 | 25.04 | 9.60 | 957.14 | -9.69 | 9.56 | 737.33 | -6.18 | 5.57 | 863.01 | -4.13 | 1.96 | 9900.0 | 3.16 | 0.18 | 12.5 | 5.88 | 18.53 | 81.84 | -4.97 | 214.90 | -2.72 | -3.8 | 88.89 | -40.74 | 40.57 | 11.11 | 122.22 | -68.52 | 25.62 | -14.03 | 3.31 |
| 23Q2 (18) | 19.24 | 33.8 | 2.39 | -1.73 | 75.84 | -76.53 | -1.12 | 88.3 | -149.34 | -1.50 | 84.33 | -159.29 | -0.73 | 81.8 | -150.34 | -0.02 | 98.18 | -103.51 | 0.16 | 14.29 | 0.0 | 10.19 | 266.55 | -7.11 | 220.91 | 7.6 | -10.66 | 150.00 | 104.55 | 450.0 | -50.00 | -304.55 | -135.0 | 29.80 | -9.59 | 9.8 |
| 23Q1 (17) | 14.38 | -34.73 | 0.63 | -7.16 | -722.61 | -36.9 | -9.57 | -395.85 | -146.65 | -9.57 | -529.61 | -135.14 | -4.01 | -456.94 | -70.64 | -1.10 | -2650.0 | -111.54 | 0.14 | -6.67 | -12.5 | 2.78 | -68.66 | -37.25 | 205.30 | -2.77 | -18.38 | 73.33 | 222.22 | -45.0 | 24.44 | -85.62 | 173.33 | 32.96 | 10.01 | 20.03 |
| 22Q4 (16) | 22.03 | -8.09 | 71.31 | 1.15 | -83.16 | 114.13 | -1.93 | -118.16 | 78.48 | -1.52 | -114.92 | 83.92 | -0.72 | -112.39 | 85.22 | -0.04 | -102.11 | 97.08 | 0.15 | -11.76 | 0.0 | 8.87 | -54.51 | 598.31 | 211.14 | -5.48 | -18.38 | -60.00 | -194.88 | -165.22 | 170.00 | 381.67 | 1600.0 | 29.96 | 20.81 | 3.42 |
| 22Q3 (15) | 23.97 | 27.57 | 25.24 | 6.83 | 796.94 | 798.68 | 10.63 | 368.28 | 581.41 | 10.19 | 302.77 | 633.09 | 5.81 | 300.69 | 635.44 | 1.90 | 233.33 | 413.51 | 0.17 | 6.25 | -5.56 | 19.50 | 77.76 | 127.54 | 223.38 | -9.67 | -1.64 | 63.24 | 247.55 | 26.47 | 35.29 | -75.29 | -29.41 | 24.80 | -8.62 | -5.49 |
| 22Q2 (14) | 18.79 | 31.49 | 5.74 | -0.98 | 81.26 | 62.88 | 2.27 | 158.51 | 151.83 | 2.53 | 162.16 | 160.82 | 1.45 | 161.7 | 167.13 | 0.57 | 209.62 | 198.28 | 0.16 | 0.0 | -5.88 | 10.97 | 147.63 | 253.87 | 247.28 | -1.69 | 12.54 | -42.86 | -132.14 | -171.43 | 142.86 | 528.57 | 257.14 | 27.14 | -1.17 | 1.16 |
| 22Q1 (13) | 14.29 | 11.12 | -16.58 | -5.23 | 35.75 | -4.39 | -3.88 | 56.74 | 31.21 | -4.07 | 56.93 | 30.55 | -2.35 | 51.75 | 15.16 | -0.52 | 62.04 | 39.53 | 0.16 | 6.67 | -5.88 | 4.43 | 348.88 | 99.55 | 251.52 | -2.77 | 28.02 | 133.33 | 44.93 | 53.09 | -33.33 | -433.33 | -444.44 | 27.46 | -5.21 | -5.67 |
| 21Q4 (12) | 12.86 | -32.81 | -24.62 | -8.14 | -1171.05 | -0.25 | -8.97 | -675.0 | 15.93 | -9.45 | -779.86 | 12.17 | -4.87 | -716.46 | -11.95 | -1.37 | -470.27 | 8.67 | 0.15 | -16.67 | 0.0 | -1.78 | -120.77 | 14.83 | 258.69 | 13.91 | 56.71 | 92.00 | 84.0 | 20.31 | 10.00 | -80.0 | -57.5 | 28.97 | 10.4 | -6.58 |
| 21Q3 (11) | 19.14 | 7.71 | 0.21 | 0.76 | 128.79 | 157.14 | 1.56 | 135.62 | 157.35 | 1.39 | 133.41 | 147.44 | 0.79 | 136.57 | 153.38 | 0.37 | 163.79 | 182.22 | 0.18 | 5.88 | -5.26 | 8.57 | 176.45 | 108.52 | 227.11 | 3.36 | 30.43 | 50.00 | -16.67 | 6.25 | 50.00 | 25.0 | 6.25 | 26.24 | -2.2 | 8.25 |
| 21Q2 (10) | 17.77 | 3.74 | -9.66 | -2.64 | 47.31 | -242.86 | -4.38 | 22.34 | -222.06 | -4.16 | 29.01 | -182.99 | -2.16 | 22.02 | -200.0 | -0.58 | 32.56 | -176.19 | 0.17 | 0.0 | -19.05 | 3.10 | 39.64 | -44.24 | 219.72 | 11.83 | 45.13 | 60.00 | -31.11 | -4.0 | 40.00 | 313.33 | -20.0 | 26.83 | -7.83 | 0 |
| 21Q1 (9) | 17.13 | 0.41 | -12.69 | -5.01 | 38.3 | -40.34 | -5.64 | 47.14 | -124.7 | -5.86 | 45.54 | -130.71 | -2.77 | 36.32 | -156.48 | -0.86 | 42.67 | -120.51 | 0.17 | 13.33 | -10.53 | 2.22 | 206.22 | -60.07 | 196.47 | 19.02 | 62.1 | 87.10 | 13.9 | -40.41 | 9.68 | -58.87 | 120.97 | 29.11 | -6.13 | -0.07 |
| 20Q4 (8) | 17.06 | -10.68 | -24.11 | -8.12 | -510.53 | -471.83 | -10.67 | -292.28 | -310.38 | -10.76 | -267.24 | -244.87 | -4.35 | -193.92 | -206.34 | -1.50 | -233.33 | -183.02 | 0.15 | -21.05 | -25.0 | -2.09 | -150.85 | -144.28 | 165.08 | -5.2 | 36.08 | 76.47 | 62.5 | 43.38 | 23.53 | -50.0 | -49.58 | 31.01 | 27.93 | 20.99 |
| 20Q3 (7) | 19.10 | -2.9 | 4.54 | -1.33 | -72.73 | 67.32 | -2.72 | -100.0 | 30.79 | -2.93 | -99.32 | 37.12 | -1.48 | -105.56 | 26.37 | -0.45 | -114.29 | 43.04 | 0.19 | -9.52 | 0.0 | 4.11 | -26.08 | 21.24 | 174.13 | 15.01 | 37.8 | 47.06 | -24.71 | -54.99 | 47.06 | -5.88 | 1135.29 | 24.24 | 0 | -5.42 |
| 20Q2 (6) | 19.67 | 0.25 | 8.02 | -0.77 | 78.43 | 89.83 | -1.36 | 45.82 | 79.67 | -1.47 | 42.13 | 79.64 | -0.72 | 33.33 | 73.33 | -0.21 | 46.15 | 81.9 | 0.21 | 10.53 | 23.53 | 5.56 | 0.0 | 826.67 | 151.40 | 24.92 | 23.84 | 62.50 | -57.24 | -44.08 | 50.00 | 208.33 | 525.0 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 19.62 | -12.72 | 49.09 | -3.57 | -151.41 | 78.4 | -2.51 | 3.46 | 85.1 | -2.54 | 18.59 | 86.31 | -1.08 | 23.94 | 80.95 | -0.39 | 26.42 | 85.34 | 0.19 | -5.0 | 26.67 | 5.56 | 17.8 | 162.47 | 121.20 | -0.09 | 12.7 | 146.15 | 174.04 | 48.21 | -46.15 | -198.9 | -3423.08 | 29.13 | 13.66 | -12.52 |
| 19Q4 (4) | 22.48 | 23.04 | 0.0 | -1.42 | 65.11 | 0.0 | -2.60 | 33.84 | 0.0 | -3.12 | 33.05 | 0.0 | -1.42 | 29.35 | 0.0 | -0.53 | 32.91 | 0.0 | 0.20 | 5.26 | 0.0 | 4.72 | 39.23 | 0.0 | 121.31 | -4.0 | 0.0 | 53.33 | -48.99 | 0.0 | 46.67 | 1126.67 | 0.0 | 25.63 | 0.0 | 0.0 |
| 19Q3 (3) | 18.27 | 0.33 | 0.0 | -4.07 | 46.24 | 0.0 | -3.93 | 41.26 | 0.0 | -4.66 | 35.46 | 0.0 | -2.01 | 25.56 | 0.0 | -0.79 | 31.9 | 0.0 | 0.19 | 11.76 | 0.0 | 3.39 | 465.0 | 0.0 | 126.36 | 3.36 | 0.0 | 104.55 | -6.46 | 0.0 | -4.55 | 61.36 | 0.0 | 25.63 | -9.11 | 0.0 |
| 19Q2 (2) | 18.21 | 38.37 | 0.0 | -7.57 | 54.2 | 0.0 | -6.69 | 60.3 | 0.0 | -7.22 | 61.08 | 0.0 | -2.70 | 52.38 | 0.0 | -1.16 | 56.39 | 0.0 | 0.17 | 13.33 | 0.0 | 0.60 | 106.74 | 0.0 | 122.25 | 13.68 | 0.0 | 111.76 | 13.34 | 0.0 | -11.76 | -947.06 | 0.0 | 28.20 | -15.32 | 0.0 |
| 19Q1 (1) | 13.16 | 0.0 | 0.0 | -16.53 | 0.0 | 0.0 | -16.85 | 0.0 | 0.0 | -18.55 | 0.0 | 0.0 | -5.67 | 0.0 | 0.0 | -2.66 | 0.0 | 0.0 | 0.15 | 0.0 | 0.0 | -8.90 | 0.0 | 0.0 | 107.54 | 0.0 | 0.0 | 98.61 | 0.0 | 0.0 | 1.39 | 0.0 | 0.0 | 33.30 | 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) | 23.35 | 18.23 | 4.89 | 897.96 | 8.44 | 8.26 | 3.95 | 99.49 | 3.73 | 89.34 | 7.50 | 74.83 | 3.25 | 68.39 | 0.66 | 1.54 | 13.89 | 25.25 | 199.48 | -5.52 | 123.40 | 383.33 | -23.40 | 0 | 0.03 | -3.04 | 27.54 | 1.14 |
| 2022 (9) | 19.75 | 17.56 | 0.49 | 0 | 7.80 | 20.14 | 1.98 | 0 | 1.97 | 0 | 4.29 | 0 | 1.93 | 0 | 0.65 | -2.99 | 11.09 | 246.56 | 211.14 | -18.38 | 25.53 | -70.47 | 76.60 | 465.63 | 0.03 | 7.54 | 27.23 | -1.77 |
| 2021 (8) | 16.80 | -11.25 | -3.60 | 0 | 6.49 | -3.39 | -4.17 | 0 | -4.33 | 0 | -9.00 | 0 | -2.48 | 0 | 0.67 | -11.84 | 3.20 | -8.57 | 258.69 | 56.71 | 86.46 | 9.93 | 13.54 | -36.57 | 0.03 | -73.02 | 27.72 | 1.54 |
| 2020 (7) | 18.93 | 3.05 | -3.18 | 0 | 6.72 | 1.11 | -4.03 | 0 | -4.14 | 0 | -7.60 | 0 | -2.70 | 0 | 0.76 | 4.11 | 3.50 | 560.38 | 165.08 | 36.08 | 78.65 | -20.22 | 21.35 | 910.49 | 0.10 | -10.87 | 27.30 | -1.94 |
| 2019 (6) | 18.37 | 47.55 | -6.77 | 0 | 6.64 | 35.4 | -6.90 | 0 | -7.73 | 0 | -11.94 | 0 | -5.24 | 0 | 0.73 | 15.87 | 0.53 | 0 | 121.31 | 20.41 | 98.59 | -22.51 | 2.11 | 0 | 0.11 | -21.64 | 27.84 | -1.56 |
| 2018 (5) | 12.45 | -12.45 | -13.26 | 0 | 4.91 | -18.65 | -10.44 | 0 | -10.26 | 0 | -12.52 | 0 | -6.12 | 0 | 0.63 | 5.0 | -4.80 | 0 | 100.75 | 12.06 | 127.23 | 0 | -27.23 | 0 | 0.14 | -23.13 | 28.28 | -2.31 |
| 2017 (4) | 14.22 | -21.22 | -13.44 | 0 | 6.03 | 8.97 | 19.16 | 0 | 14.17 | 0 | 16.82 | 0 | 8.83 | 0 | 0.60 | -16.67 | 25.85 | 0 | 89.91 | -13.64 | -70.38 | 0 | 170.38 | 2734.51 | 0.18 | 0 | 28.95 | -3.05 |
| 2016 (3) | 18.05 | 15.56 | -7.74 | 0 | 5.54 | -3.76 | -8.23 | 0 | -8.27 | 0 | -11.51 | 0 | -5.60 | 0 | 0.72 | 12.5 | -2.07 | 0 | 104.11 | 20.78 | 93.99 | 10.92 | 6.01 | -60.63 | 0.00 | 0 | 29.86 | -6.8 |
| 2015 (2) | 15.62 | -18.31 | -10.48 | 0 | 5.75 | 34.27 | -12.35 | 0 | -11.00 | 0 | -12.71 | 0 | -6.61 | 0 | 0.64 | -22.89 | -5.70 | 0 | 86.20 | 12.42 | 84.73 | 79.63 | 15.27 | -71.1 | 0.00 | 0 | 32.04 | 35.48 |
| 2014 (1) | 19.12 | 0 | 0.84 | 0 | 4.28 | -29.28 | 1.78 | 0 | 1.27 | 0 | 1.96 | 0 | 1.45 | 0 | 0.83 | -3.49 | 6.76 | -17.36 | 76.68 | -18.56 | 47.17 | -29.25 | 52.83 | 58.49 | 0.00 | 0 | 23.65 | 6.58 |
