- 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) | 8.54 | -10.76 | -16.68 | 3.66 | -12.02 | -34.88 | 2.78 | -49.36 | -43.03 | 1.94 | -53.14 | -44.41 | 2.67 | -50.74 | -51.81 | 0.87 | -43.87 | -43.51 | 0.34 | 3.03 | -19.05 | 5.05 | -31.48 | -16.25 | 315.60 | 7.85 | 15.28 | 131.37 | 73.6 | 14.11 | -31.37 | -228.94 | -109.31 | 6.38 | -13.32 | 11.15 |
| 23Q3 (19) | 9.57 | -4.97 | -10.64 | 4.16 | -19.85 | -28.15 | 5.49 | -28.79 | -27.48 | 4.14 | -29.83 | -27.37 | 5.42 | -33.0 | -43.13 | 1.55 | -30.8 | -36.73 | 0.33 | -5.71 | -21.43 | 7.37 | -21.09 | -13.5 | 292.63 | -4.6 | 0.48 | 75.67 | 12.38 | -0.91 | 24.33 | -25.53 | 3.35 | 7.36 | 11.35 | 23.7 |
| 23Q2 (18) | 10.07 | 9.34 | -5.71 | 5.19 | 18.76 | -8.79 | 7.71 | 73.26 | 32.47 | 5.90 | 85.53 | 46.77 | 8.09 | 78.59 | 40.94 | 2.24 | 68.42 | 46.41 | 0.35 | -7.89 | -5.41 | 9.34 | 59.93 | 35.36 | 306.75 | 13.42 | 1.43 | 67.33 | -31.45 | -31.17 | 32.67 | 1582.33 | 1398.31 | 6.61 | 16.17 | 12.99 |
| 23Q1 (17) | 9.21 | -10.15 | -18.93 | 4.37 | -22.24 | -22.79 | 4.45 | -8.81 | -16.51 | 3.18 | -8.88 | -14.05 | 4.53 | -18.23 | 3.19 | 1.33 | -13.64 | 6.4 | 0.38 | -9.52 | 15.15 | 5.84 | -3.15 | -10.98 | 270.46 | -1.21 | -0.32 | 98.22 | -14.68 | -7.53 | 1.94 | 112.96 | 131.25 | 5.69 | -0.87 | -17.54 |
| 22Q4 (16) | 10.25 | -4.3 | 18.22 | 5.62 | -2.94 | 54.4 | 4.88 | -35.54 | -9.29 | 3.49 | -38.77 | -16.11 | 5.54 | -41.87 | -16.57 | 1.54 | -37.14 | -18.09 | 0.42 | 0.0 | -4.55 | 6.03 | -29.23 | -5.04 | 273.76 | -6.0 | 6.48 | 115.13 | 50.75 | 70.35 | -14.99 | -163.66 | -146.46 | 5.74 | -3.53 | -7.72 |
| 22Q3 (15) | 10.71 | 0.28 | -6.95 | 5.79 | 1.76 | 0.35 | 7.57 | 30.07 | 16.1 | 5.70 | 41.79 | 9.2 | 9.53 | 66.03 | 47.52 | 2.45 | 60.13 | 29.63 | 0.42 | 13.51 | 20.0 | 8.52 | 23.48 | 9.65 | 291.24 | -3.7 | 7.29 | 76.37 | -21.93 | -13.67 | 23.54 | 979.72 | 104.02 | 5.95 | 1.71 | -19.05 |
| 22Q2 (14) | 10.68 | -5.99 | -8.48 | 5.69 | 0.53 | 3.83 | 5.82 | 9.19 | -6.88 | 4.02 | 8.65 | -18.29 | 5.74 | 30.75 | -2.38 | 1.53 | 22.4 | -17.3 | 0.37 | 12.12 | 0.0 | 6.90 | 5.18 | -8.49 | 302.42 | 11.46 | 31.26 | 97.82 | -7.9 | 11.41 | 2.18 | 135.09 | -82.13 | 5.85 | -15.22 | -18.75 |
| 22Q1 (13) | 11.36 | 31.03 | 2.99 | 5.66 | 55.49 | 23.31 | 5.33 | -0.93 | 27.51 | 3.70 | -11.06 | 22.52 | 4.39 | -33.89 | 43.0 | 1.25 | -33.51 | 23.76 | 0.33 | -25.0 | 3.13 | 6.56 | 3.31 | 13.1 | 271.32 | 5.54 | 21.8 | 106.21 | 57.17 | -3.28 | -6.21 | -119.26 | 36.71 | 6.90 | 10.93 | -11.99 |
| 21Q4 (12) | 8.67 | -24.67 | -21.04 | 3.64 | -36.92 | -11.22 | 5.38 | -17.48 | 53.28 | 4.16 | -20.31 | 51.82 | 6.64 | 2.79 | 110.13 | 1.88 | -0.53 | 82.52 | 0.44 | 25.71 | 22.22 | 6.35 | -18.28 | 25.99 | 257.09 | -5.29 | 17.79 | 67.58 | -23.6 | -42.04 | 32.26 | 179.57 | 294.32 | 6.22 | -15.37 | -22.35 |
| 21Q3 (11) | 11.51 | -1.37 | -10.36 | 5.77 | 5.29 | 12.92 | 6.52 | 4.32 | 42.36 | 5.22 | 6.1 | 55.36 | 6.46 | 9.86 | 73.19 | 1.89 | 2.16 | 61.54 | 0.35 | -5.41 | 6.06 | 7.77 | 3.05 | 27.59 | 271.46 | 17.82 | 19.05 | 88.46 | 0.75 | -20.67 | 11.54 | -5.42 | 200.22 | 7.35 | 2.08 | -4.3 |
| 21Q2 (10) | 11.67 | 5.8 | -9.81 | 5.48 | 19.39 | 10.26 | 6.25 | 49.52 | 18.37 | 4.92 | 62.91 | 22.39 | 5.88 | 91.53 | 51.55 | 1.85 | 83.17 | 49.19 | 0.37 | 15.62 | 27.59 | 7.54 | 30.0 | 8.33 | 230.40 | 3.43 | -6.86 | 87.80 | -20.05 | -7.02 | 12.20 | 224.26 | 106.72 | 7.20 | -8.16 | 0 |
| 21Q1 (9) | 11.03 | 0.46 | -14.43 | 4.59 | 11.95 | -9.65 | 4.18 | 19.09 | -20.08 | 3.02 | 10.22 | -25.62 | 3.07 | -2.85 | -17.69 | 1.01 | -1.94 | -16.53 | 0.32 | -11.11 | 14.29 | 5.80 | 15.08 | -17.14 | 222.76 | 2.06 | 0.67 | 109.82 | -5.82 | 12.96 | -9.82 | 40.86 | -453.45 | 7.84 | -2.12 | -13.37 |
| 20Q4 (8) | 10.98 | -14.49 | 4.47 | 4.10 | -19.77 | 16.48 | 3.51 | -23.36 | 16.23 | 2.74 | -18.45 | 18.61 | 3.16 | -15.28 | 18.8 | 1.03 | -11.97 | 17.05 | 0.36 | 9.09 | 5.88 | 5.04 | -17.24 | 11.5 | 218.26 | -4.28 | -7.77 | 116.60 | 4.56 | -0.34 | -16.60 | -44.19 | 2.35 | 8.01 | 4.3 | 7.66 |
| 20Q3 (7) | 12.84 | -0.77 | 7.18 | 5.11 | 2.82 | 21.96 | 4.58 | -13.26 | 6.51 | 3.36 | -16.42 | 7.01 | 3.73 | -3.87 | 12.35 | 1.17 | -5.65 | 9.35 | 0.33 | 13.79 | 6.45 | 6.09 | -12.5 | 0.16 | 228.03 | -7.82 | -0.95 | 111.51 | 18.1 | 14.2 | -11.51 | -295.08 | -519.41 | 7.68 | 0 | -6.11 |
| 20Q2 (6) | 12.94 | 0.39 | 16.05 | 4.97 | -2.17 | 56.78 | 5.28 | 0.96 | 31.34 | 4.02 | -0.99 | 28.85 | 3.88 | 4.02 | 22.01 | 1.24 | 2.48 | 19.23 | 0.29 | 3.57 | -6.45 | 6.96 | -0.57 | 18.17 | 247.37 | 11.8 | 0.75 | 94.43 | -2.88 | 19.3 | 5.90 | 112.46 | -71.7 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 12.89 | 22.65 | 46.64 | 5.08 | 44.32 | 93.89 | 5.23 | 73.18 | 50.29 | 4.06 | 75.76 | 59.22 | 3.73 | 40.23 | 48.02 | 1.21 | 37.5 | 37.5 | 0.28 | -17.65 | -9.68 | 7.00 | 54.87 | 29.39 | 221.27 | -6.5 | -1.85 | 97.22 | -16.9 | 28.77 | 2.78 | 116.34 | -88.66 | 9.05 | 21.64 | 8.77 |
| 19Q4 (4) | 10.51 | -12.27 | 0.0 | 3.52 | -15.99 | 0.0 | 3.02 | -29.77 | 0.0 | 2.31 | -26.43 | 0.0 | 2.66 | -19.88 | 0.0 | 0.88 | -17.76 | 0.0 | 0.34 | 9.68 | 0.0 | 4.52 | -25.66 | 0.0 | 236.64 | 2.79 | 0.0 | 117.00 | 19.82 | 0.0 | -17.00 | -719.29 | 0.0 | 7.44 | -9.05 | 0.0 |
| 19Q3 (3) | 11.98 | 7.44 | 0.0 | 4.19 | 32.18 | 0.0 | 4.30 | 6.97 | 0.0 | 3.14 | 0.64 | 0.0 | 3.32 | 4.4 | 0.0 | 1.07 | 2.88 | 0.0 | 0.31 | 0.0 | 0.0 | 6.08 | 3.23 | 0.0 | 230.21 | -6.24 | 0.0 | 97.65 | 23.37 | 0.0 | 2.75 | -86.83 | 0.0 | 8.18 | -0.49 | 0.0 |
| 19Q2 (2) | 11.15 | 26.85 | 0.0 | 3.17 | 20.99 | 0.0 | 4.02 | 15.52 | 0.0 | 3.12 | 22.35 | 0.0 | 3.18 | 26.19 | 0.0 | 1.04 | 18.18 | 0.0 | 0.31 | 0.0 | 0.0 | 5.89 | 8.87 | 0.0 | 245.53 | 8.91 | 0.0 | 79.15 | 4.83 | 0.0 | 20.85 | -14.89 | 0.0 | 8.22 | -1.2 | 0.0 |
| 19Q1 (1) | 8.79 | 0.0 | 0.0 | 2.62 | 0.0 | 0.0 | 3.48 | 0.0 | 0.0 | 2.55 | 0.0 | 0.0 | 2.52 | 0.0 | 0.0 | 0.88 | 0.0 | 0.0 | 0.31 | 0.0 | 0.0 | 5.41 | 0.0 | 0.0 | 225.45 | 0.0 | 0.0 | 75.50 | 0.0 | 0.0 | 24.50 | 0.0 | 0.0 | 8.32 | 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) | 9.32 | -12.82 | 4.33 | -23.9 | 1.13 | 34.13 | 5.04 | -15.29 | 3.73 | -12.85 | 20.28 | -18.62 | 5.78 | -18.01 | 1.37 | -13.84 | 6.84 | -2.84 | 315.60 | 15.28 | 85.79 | -10.31 | 14.21 | 227.37 | 0.21 | -31.04 | 6.50 | 7.44 |
| 2022 (9) | 10.69 | 1.71 | 5.69 | 19.29 | 0.84 | -16.12 | 5.95 | 5.68 | 4.28 | -2.28 | 24.92 | 17.05 | 7.05 | 9.13 | 1.59 | 11.19 | 7.04 | 2.47 | 273.76 | 6.48 | 95.66 | 12.95 | 4.34 | -71.66 | 0.31 | -19.95 | 6.05 | -13.94 |
| 2021 (8) | 10.51 | -14.83 | 4.77 | -0.21 | 1.00 | -20.66 | 5.63 | 22.93 | 4.38 | 25.5 | 21.29 | 48.36 | 6.46 | 38.63 | 1.43 | 13.49 | 6.87 | 10.99 | 257.09 | 17.79 | 84.69 | -18.91 | 15.31 | 0 | 0.38 | 46.82 | 7.03 | -15.71 |
| 2020 (7) | 12.34 | 16.31 | 4.78 | 41.0 | 1.26 | -6.67 | 4.58 | 24.46 | 3.49 | 25.99 | 14.35 | 24.13 | 4.66 | 19.79 | 1.26 | -1.56 | 6.19 | 13.58 | 218.26 | -7.77 | 104.43 | 13.62 | -4.52 | 0 | 0.26 | 202.41 | 8.34 | 3.99 |
| 2019 (6) | 10.61 | -8.14 | 3.39 | -5.57 | 1.35 | 175.13 | 3.68 | -10.24 | 2.77 | -13.44 | 11.56 | -19.61 | 3.89 | -20.12 | 1.28 | -9.86 | 5.45 | 10.55 | 236.64 | 8.7 | 91.92 | 5.04 | 8.08 | -35.29 | 0.09 | -17.01 | 8.02 | 6.37 |
| 2018 (5) | 11.55 | 1.4 | 3.59 | -9.34 | 0.49 | -8.86 | 4.10 | 1.74 | 3.20 | -0.31 | 14.38 | 8.04 | 4.87 | 4.73 | 1.42 | 5.97 | 4.93 | -1.0 | 217.71 | 2.49 | 87.51 | -11.07 | 12.49 | 681.91 | 0.10 | -16.24 | 7.54 | -9.05 |
| 2017 (4) | 11.39 | -5.48 | 3.96 | 5.6 | 0.54 | -2.35 | 4.03 | 11.63 | 3.21 | 17.15 | 13.31 | 18.1 | 4.65 | 8.39 | 1.34 | -6.29 | 4.98 | 9.21 | 212.42 | 3.22 | 98.40 | -5.39 | 1.60 | 0 | 0.12 | 0 | 8.29 | -4.71 |
| 2016 (3) | 12.05 | 7.88 | 3.75 | 17.55 | 0.55 | -6.06 | 3.61 | 11.08 | 2.74 | 7.45 | 11.27 | 8.37 | 4.29 | 3.37 | 1.43 | -5.92 | 4.56 | 9.35 | 205.80 | 23.15 | 104.01 | 6.19 | -4.16 | 0 | 0.00 | 0 | 8.70 | 1.16 |
| 2015 (2) | 11.17 | -4.94 | 3.19 | -5.34 | 0.59 | -18.55 | 3.25 | 3.83 | 2.55 | -0.78 | 10.40 | 15.04 | 4.15 | 10.67 | 1.52 | 10.95 | 4.17 | -0.71 | 167.12 | -1.04 | 97.95 | -9.04 | 2.05 | 0 | 0.00 | 0 | 8.60 | -9.57 |
| 2014 (1) | 11.75 | 0 | 3.37 | 0 | 0.72 | -7.03 | 3.13 | 0 | 2.57 | 0 | 9.04 | 0 | 3.75 | 0 | 1.37 | -6.8 | 4.20 | 37.25 | 168.88 | 16.75 | 107.69 | 19.66 | -7.69 | 0 | 0.00 | 0 | 9.51 | -5.56 |
