- 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) | 30.94 | 8.98 | 21.0 | -4.39 | -112.08 | 37.46 | -7.72 | -217.7 | 20.49 | -8.19 | -185.37 | -2.89 | -1.74 | -135.14 | -2.96 | -0.88 | -144.44 | 8.33 | 0.12 | -20.0 | -7.69 | 0.67 | -84.01 | 128.76 | 80.18 | -0.46 | 27.96 | 56.52 | -32.17 | -20.87 | 43.48 | 160.87 | 61.13 | 33.43 | 10.95 | 23.18 |
| 23Q3 (19) | 28.39 | 1.36 | -12.24 | -2.07 | 36.5 | -165.92 | -2.43 | -203.75 | -131.6 | -2.87 | -135.25 | -139.97 | -0.74 | -164.29 | -130.58 | -0.36 | -500.0 | -124.83 | 0.15 | 7.14 | -21.05 | 4.19 | -38.47 | -67.62 | 80.55 | 10.83 | 31.66 | 83.33 | -81.06 | 102.38 | 16.67 | 104.9 | -71.67 | 30.13 | -4.83 | -0.86 |
| 23Q2 (18) | 28.01 | 15.31 | -14.6 | -3.26 | 58.89 | -131.29 | -0.80 | -108.13 | -107.21 | -1.22 | -111.41 | -114.86 | -0.28 | -111.86 | -107.78 | -0.06 | -103.9 | -103.24 | 0.14 | 0.0 | -36.36 | 6.81 | -61.22 | -57.25 | 72.68 | 16.92 | -30.33 | 440.00 | 647.92 | 367.22 | -340.00 | -288.57 | -5936.67 | 31.66 | 0.6 | 31.21 |
| 23Q1 (17) | 24.29 | -5.01 | -25.9 | -7.93 | -12.96 | -189.1 | 9.84 | 201.34 | -3.15 | 10.69 | 234.3 | 19.98 | 2.36 | 239.64 | -37.07 | 1.54 | 260.42 | -17.65 | 0.14 | 7.69 | -30.0 | 17.56 | 853.65 | 19.62 | 62.16 | -0.8 | -37.46 | -80.30 | -212.42 | -192.4 | 180.30 | 568.18 | 1414.55 | 31.47 | 15.95 | 25.53 |
| 22Q4 (16) | 25.57 | -20.96 | -21.54 | -7.02 | -323.57 | -176.64 | -9.71 | -226.27 | -213.83 | -7.96 | -210.86 | -206.42 | -1.69 | -169.83 | -147.61 | -0.96 | -166.21 | -157.14 | 0.13 | -31.58 | -40.91 | -2.33 | -118.01 | -117.96 | 62.66 | 2.42 | -45.65 | 71.43 | 73.47 | -34.21 | 26.98 | -54.13 | 477.78 | 27.14 | -10.69 | 21.0 |
| 22Q3 (15) | 32.35 | -1.37 | 5.24 | 3.14 | -69.87 | -59.9 | 7.69 | -30.66 | -2.04 | 7.18 | -12.55 | 8.3 | 2.42 | -32.78 | -27.33 | 1.45 | -21.62 | -15.2 | 0.19 | -13.64 | -24.0 | 12.94 | -18.77 | 5.98 | 61.18 | -41.35 | -51.51 | 41.18 | -56.28 | -58.17 | 58.82 | 909.8 | 0 | 30.39 | 25.94 | 33.64 |
| 22Q2 (14) | 32.80 | 0.06 | 3.57 | 10.42 | 17.08 | 87.07 | 11.09 | 9.15 | 130.08 | 8.21 | -7.86 | 180.2 | 3.60 | -4.0 | 202.52 | 1.85 | -1.07 | 164.29 | 0.22 | 10.0 | -4.35 | 15.93 | 8.51 | 64.57 | 104.32 | 4.95 | 29.74 | 94.17 | 8.37 | -18.91 | 5.83 | -51.07 | 136.12 | 24.13 | -3.75 | -9.32 |
| 22Q1 (13) | 32.78 | 0.58 | 2.92 | 8.90 | -2.84 | 68.88 | 10.16 | 19.11 | 118.49 | 8.91 | 19.12 | 118.92 | 3.75 | 5.63 | 114.29 | 1.87 | 11.31 | 83.33 | 0.20 | -9.09 | -20.0 | 14.68 | 13.18 | 60.09 | 99.40 | -13.78 | 33.42 | 86.90 | -19.96 | -25.17 | 11.90 | 266.67 | 192.26 | 25.07 | 11.77 | -5.79 |
| 21Q4 (12) | 32.59 | 6.02 | -0.4 | 9.16 | 16.99 | 79.96 | 8.53 | 8.66 | 118.16 | 7.48 | 12.82 | 48.12 | 3.55 | 6.61 | 57.78 | 1.68 | -1.75 | 25.37 | 0.22 | -12.0 | -15.38 | 12.97 | 6.22 | 49.25 | 115.29 | -8.63 | 60.15 | 108.57 | 10.29 | -16.24 | -7.14 | 0 | 75.89 | 22.43 | -1.36 | -4.47 |
| 21Q3 (11) | 30.74 | -2.94 | -8.35 | 7.83 | 40.57 | 5.24 | 7.85 | 62.86 | 28.27 | 6.63 | 126.28 | 70.88 | 3.33 | 179.83 | 82.97 | 1.71 | 144.29 | 54.05 | 0.25 | 8.7 | -10.71 | 12.21 | 26.14 | 15.95 | 126.18 | 56.92 | 79.77 | 98.44 | -15.23 | -18.93 | 0.00 | 100.0 | 100.0 | 22.74 | -14.54 | -5.05 |
| 21Q2 (10) | 31.67 | -0.57 | -2.58 | 5.57 | 5.69 | 131.12 | 4.82 | 3.66 | 60.67 | 2.93 | -28.01 | 8.92 | 1.19 | -32.0 | 13.33 | 0.70 | -31.37 | 6.06 | 0.23 | -8.0 | -4.17 | 9.68 | 5.56 | 24.58 | 80.41 | 7.93 | 19.75 | 116.13 | 0.0 | 41.01 | -16.13 | -25.0 | -191.4 | 26.61 | 0.0 | 0 |
| 21Q1 (9) | 31.85 | -2.66 | 7.75 | 5.27 | 3.54 | 831.94 | 4.65 | 18.93 | 6542.86 | 4.07 | -19.41 | 1297.06 | 1.75 | -22.22 | 1850.0 | 1.02 | -23.88 | 2140.0 | 0.25 | -3.85 | 31.58 | 9.17 | 5.52 | 42.83 | 74.50 | 3.49 | 18.74 | 116.13 | -10.41 | 0 | -12.90 | 56.45 | 0 | 26.61 | 13.33 | 0 |
| 20Q4 (8) | 32.72 | -2.44 | 13.97 | 5.09 | -31.59 | 129.28 | 3.91 | -36.11 | 1017.14 | 5.05 | 30.15 | 445.89 | 2.25 | 23.63 | 468.85 | 1.34 | 20.72 | 472.22 | 0.26 | -7.14 | 0.0 | 8.69 | -17.47 | 91.83 | 71.99 | 2.56 | 10.87 | 129.63 | 6.75 | -81.48 | -29.63 | -38.27 | 95.06 | 23.48 | -1.96 | -6.16 |
| 20Q3 (7) | 33.54 | 3.17 | 1.39 | 7.44 | 208.71 | -11.85 | 6.12 | 104.0 | -32.3 | 3.88 | 44.24 | -42.52 | 1.82 | 73.33 | -37.88 | 1.11 | 68.18 | -41.58 | 0.28 | 16.67 | 0.0 | 10.53 | 35.52 | -20.59 | 70.19 | 4.53 | 23.57 | 121.43 | 47.45 | 30.26 | -21.43 | -221.43 | -416.07 | 23.95 | 0 | -0.87 |
| 20Q2 (6) | 32.51 | 9.98 | 4.47 | 2.41 | 434.72 | 27.51 | 3.00 | 4185.71 | -33.92 | 2.69 | 891.18 | -31.9 | 1.05 | 1150.0 | -29.05 | 0.66 | 1420.0 | -34.65 | 0.24 | 26.32 | -4.0 | 7.77 | 21.03 | -14.33 | 67.15 | 7.03 | 27.4 | 82.35 | 0 | 94.65 | 17.65 | 0 | -69.41 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 29.56 | 2.96 | -16.45 | -0.72 | -132.43 | -112.9 | 0.07 | -80.0 | -98.81 | -0.34 | 76.71 | -108.17 | -0.10 | 83.61 | -107.81 | -0.05 | 86.11 | -105.43 | 0.19 | -26.92 | -13.64 | 6.42 | 41.72 | -42.98 | 62.74 | -3.37 | 51.69 | 0.00 | -100.0 | -100.0 | 0.00 | 100.0 | -100.0 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 28.71 | -13.21 | 0.0 | 2.22 | -73.7 | 0.0 | 0.35 | -96.13 | 0.0 | -1.46 | -121.63 | 0.0 | -0.61 | -120.82 | 0.0 | -0.36 | -118.95 | 0.0 | 0.26 | -7.14 | 0.0 | 4.53 | -65.84 | 0.0 | 64.93 | 14.31 | 0.0 | 700.00 | 650.91 | 0.0 | -600.00 | -8950.0 | 0.0 | 25.02 | 3.56 | 0.0 |
| 19Q3 (3) | 33.08 | 6.3 | 0.0 | 8.44 | 346.56 | 0.0 | 9.04 | 99.12 | 0.0 | 6.75 | 70.89 | 0.0 | 2.93 | 97.97 | 0.0 | 1.90 | 88.12 | 0.0 | 0.28 | 12.0 | 0.0 | 13.26 | 46.2 | 0.0 | 56.80 | 7.76 | 0.0 | 93.22 | 120.34 | 0.0 | 6.78 | -88.25 | 0.0 | 24.16 | -15.14 | 0.0 |
| 19Q2 (2) | 31.12 | -12.04 | 0.0 | 1.89 | -66.13 | 0.0 | 4.54 | -22.79 | 0.0 | 3.95 | -5.05 | 0.0 | 1.48 | 15.62 | 0.0 | 1.01 | 9.78 | 0.0 | 0.25 | 13.64 | 0.0 | 9.07 | -19.45 | 0.0 | 52.71 | 27.44 | 0.0 | 42.31 | -56.07 | 0.0 | 57.69 | 1457.69 | 0.0 | 28.47 | -4.17 | 0.0 |
| 19Q1 (1) | 35.38 | 0.0 | 0.0 | 5.58 | 0.0 | 0.0 | 5.88 | 0.0 | 0.0 | 4.16 | 0.0 | 0.0 | 1.28 | 0.0 | 0.0 | 0.92 | 0.0 | 0.0 | 0.22 | 0.0 | 0.0 | 11.26 | 0.0 | 0.0 | 41.36 | 0.0 | 0.0 | 96.30 | 0.0 | 0.0 | 3.70 | 0.0 | 0.0 | 29.71 | 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) | 27.84 | -10.94 | -4.35 | 0 | 6.40 | 39.94 | -0.14 | 0 | -0.25 | 0 | -0.23 | 0 | 0.21 | -94.71 | 0.54 | -27.03 | 7.45 | -33.66 | 80.18 | 27.96 | 2925.00 | 3570.59 | -2825.00 | 0 | 1.48 | -5.04 | 31.59 | 18.58 |
| 2022 (9) | 31.26 | -1.42 | 4.66 | -34.55 | 4.58 | 14.9 | 5.86 | -11.75 | 4.94 | -9.69 | 6.67 | -29.79 | 3.97 | -21.39 | 0.74 | -16.85 | 11.23 | 0.27 | 62.66 | -45.65 | 79.69 | -25.6 | 20.31 | 0 | 1.56 | 63.07 | 26.64 | 9.23 |
| 2021 (8) | 31.71 | -1.8 | 7.12 | 78.45 | 3.98 | -11.98 | 6.64 | 85.47 | 5.47 | 76.45 | 9.50 | 96.69 | 5.05 | 71.19 | 0.89 | -3.26 | 11.20 | 30.99 | 115.29 | 60.15 | 107.11 | -4.05 | -7.11 | 0 | 0.95 | -11.63 | 24.39 | -7.12 |
| 2020 (7) | 32.29 | 1.35 | 3.99 | -12.69 | 4.52 | 10.5 | 3.58 | -27.24 | 3.10 | -5.78 | 4.83 | -4.73 | 2.95 | -11.94 | 0.92 | -8.91 | 8.55 | -9.81 | 71.99 | 10.87 | 111.63 | 20.05 | -11.63 | 0 | 1.08 | 43.48 | 26.26 | -1.09 |
| 2019 (6) | 31.86 | -9.92 | 4.57 | 28.37 | 4.09 | 17.16 | 4.92 | -5.93 | 3.29 | 10.03 | 5.07 | 43.22 | 3.35 | 31.37 | 1.01 | 18.82 | 9.48 | 1.94 | 64.93 | 56.91 | 92.98 | 37.26 | 7.02 | -78.25 | 0.75 | -28.51 | 26.55 | -13.41 |
| 2018 (5) | 35.37 | -5.15 | 3.56 | -66.95 | 3.49 | 6.65 | 5.23 | -44.89 | 2.99 | -59.81 | 3.54 | -62.85 | 2.55 | -63.1 | 0.85 | -7.61 | 9.30 | -29.33 | 41.38 | 11.21 | 67.74 | -40.23 | 32.26 | 0 | 1.05 | 0 | 30.66 | 20.05 |
| 2017 (4) | 37.29 | 1.17 | 10.77 | -0.92 | 3.28 | 6.44 | 9.49 | -12.78 | 7.44 | -12.06 | 9.53 | -13.6 | 6.91 | -12.64 | 0.92 | -1.08 | 13.16 | -8.48 | 37.21 | -6.97 | 113.33 | 13.33 | -13.33 | 0 | 0.00 | 0 | 25.54 | 6.37 |
| 2016 (3) | 36.86 | -6.54 | 10.87 | -23.5 | 3.08 | -6.05 | 10.88 | -32.17 | 8.46 | -31.77 | 11.03 | -36.9 | 7.91 | -32.39 | 0.93 | 0.0 | 14.38 | -28.1 | 40.00 | 2.93 | 100.00 | 12.7 | 0.00 | 0 | 0.00 | 0 | 24.01 | 2.26 |
| 2015 (2) | 39.44 | -0.8 | 14.21 | 4.72 | 3.28 | -8.25 | 16.04 | 6.08 | 12.40 | 6.99 | 17.48 | 1.04 | 11.70 | 13.48 | 0.93 | 9.41 | 20.00 | -1.86 | 38.86 | -42.3 | 88.73 | -1.21 | 11.27 | 10.63 | 0.00 | 0 | 23.48 | 2.09 |
| 2014 (1) | 39.76 | 0 | 13.57 | 0 | 3.57 | -18.62 | 15.12 | 0 | 11.59 | 0 | 17.30 | 0 | 10.31 | 0 | 0.85 | 25.0 | 20.38 | 13.66 | 67.35 | -21.17 | 89.81 | 17.23 | 10.19 | -56.45 | 0.00 | 0 | 23.00 | -6.66 |
