- 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) | 11.76 | 18.19 | 29.37 | 6.28 | 17.6 | 39.25 | 3.23 | -16.54 | -29.63 | 2.59 | -16.18 | -30.38 | 3.24 | -32.78 | -45.73 | 1.33 | -19.39 | -24.43 | 0.39 | -2.5 | -2.5 | 4.64 | -13.91 | -17.58 | 184.68 | -30.33 | -37.01 | 194.74 | 41.16 | 98.19 | -94.74 | -149.6 | -5531.58 | 4.05 | 19.82 | 19.47 |
| 23Q3 (19) | 9.95 | 15.7 | 4.08 | 5.34 | 30.24 | -2.2 | 3.87 | 44.4 | -24.12 | 3.09 | 26.64 | -24.26 | 4.82 | 21.72 | -34.06 | 1.65 | 19.57 | -17.09 | 0.40 | 5.26 | -9.09 | 5.39 | 21.95 | -8.18 | 265.08 | -13.69 | -12.05 | 137.96 | -9.95 | 28.89 | -37.96 | 28.64 | -439.52 | 3.38 | 1.81 | 11.55 |
| 23Q2 (18) | 8.60 | 24.82 | -9.28 | 4.10 | 65.32 | -23.08 | 2.68 | 26.42 | -47.24 | 2.44 | 74.29 | -36.62 | 3.96 | 90.38 | -41.59 | 1.38 | 60.47 | -25.41 | 0.38 | 5.56 | -17.39 | 4.42 | 21.43 | -20.93 | 307.13 | -10.29 | -1.45 | 153.19 | 31.04 | 46.3 | -53.19 | -214.72 | -1028.84 | 3.32 | 3.75 | 5.06 |
| 23Q1 (17) | 6.89 | -24.2 | -17.78 | 2.48 | -45.01 | -41.78 | 2.12 | -53.81 | -55.18 | 1.40 | -62.37 | -62.77 | 2.08 | -65.16 | -67.6 | 0.86 | -51.14 | -55.9 | 0.36 | -10.0 | -28.0 | 3.64 | -35.35 | -28.49 | 342.34 | 16.76 | 29.95 | 116.90 | 18.98 | 29.89 | -16.90 | -1069.01 | -269.01 | 3.20 | -5.6 | 2.56 |
| 22Q4 (16) | 9.09 | -4.92 | 3.3 | 4.51 | -17.4 | -1.31 | 4.59 | -10.0 | -7.65 | 3.72 | -8.82 | -5.34 | 5.97 | -18.33 | -12.97 | 1.76 | -11.56 | -17.37 | 0.40 | -9.09 | -24.53 | 5.63 | -4.09 | 6.43 | 293.21 | -2.71 | 37.94 | 98.26 | -8.2 | 7.02 | 1.74 | 124.79 | -78.7 | 3.39 | 11.88 | 9.35 |
| 22Q3 (15) | 9.56 | 0.84 | 22.41 | 5.46 | 2.44 | 36.16 | 5.10 | 0.39 | 31.78 | 4.08 | 5.97 | 35.55 | 7.31 | 7.82 | 25.6 | 1.99 | 7.57 | 18.45 | 0.44 | -4.35 | -20.0 | 5.87 | 5.01 | 40.77 | 301.39 | -3.29 | 23.8 | 107.04 | 2.22 | 2.58 | -7.04 | -49.3 | -94.17 | 3.03 | -4.11 | 9.39 |
| 22Q2 (14) | 9.48 | 13.13 | 22.48 | 5.33 | 25.12 | 33.25 | 5.08 | 7.4 | 28.93 | 3.85 | 2.39 | 26.23 | 6.78 | 5.61 | 6.77 | 1.85 | -5.13 | 3.35 | 0.46 | -8.0 | -19.3 | 5.59 | 9.82 | 31.84 | 311.65 | 18.3 | 18.16 | 104.71 | 16.35 | 3.32 | -4.71 | -147.12 | -248.69 | 3.16 | 1.28 | 15.75 |
| 22Q1 (13) | 8.38 | -4.77 | 38.97 | 4.26 | -6.78 | 82.05 | 4.73 | -4.83 | 96.27 | 3.76 | -4.33 | 98.94 | 6.42 | -6.41 | 71.66 | 1.95 | -8.45 | 74.11 | 0.50 | -5.66 | -12.28 | 5.09 | -3.78 | 85.77 | 263.44 | 23.94 | 0.08 | 90.00 | -1.97 | -6.71 | 10.00 | 22.14 | 183.33 | 3.12 | 0.65 | 19.54 |
| 21Q4 (12) | 8.80 | 12.68 | 48.65 | 4.57 | 13.97 | 135.57 | 4.97 | 28.42 | 162.96 | 3.93 | 30.56 | 172.92 | 6.86 | 17.87 | 170.08 | 2.13 | 26.79 | 159.76 | 0.53 | -3.64 | -1.85 | 5.29 | 26.86 | 135.11 | 212.56 | -12.68 | -8.02 | 91.81 | -12.01 | -11.3 | 8.19 | 325.96 | 566.67 | 3.10 | 11.91 | 11.91 |
| 21Q3 (11) | 7.81 | 0.9 | 58.1 | 4.01 | 0.25 | 326.6 | 3.87 | -1.78 | 316.13 | 3.01 | -1.31 | 254.12 | 5.82 | -8.35 | 282.89 | 1.68 | -6.15 | 194.74 | 0.55 | -3.51 | -9.84 | 4.17 | -1.65 | 220.77 | 243.44 | -7.7 | 11.23 | 104.35 | 2.96 | 4.35 | -3.62 | -168.12 | 0 | 2.77 | 1.47 | 2.21 |
| 21Q2 (10) | 7.74 | 28.36 | -24.41 | 4.00 | 70.94 | -18.86 | 3.94 | 63.49 | -11.86 | 3.05 | 61.38 | -12.61 | 6.35 | 69.79 | 37.74 | 1.79 | 59.82 | -0.56 | 0.57 | 0.0 | 14.0 | 4.24 | 54.74 | -15.2 | 263.75 | 0.2 | 66.59 | 101.35 | 5.06 | -7.95 | -1.35 | -138.29 | 86.62 | 2.73 | 4.6 | 0 |
| 21Q1 (9) | 6.03 | 1.86 | -28.55 | 2.34 | 20.62 | -13.01 | 2.41 | 27.51 | -26.07 | 1.89 | 31.25 | -27.31 | 3.74 | 47.24 | 19.11 | 1.12 | 36.59 | -9.68 | 0.57 | 5.56 | 26.67 | 2.74 | 21.78 | -28.83 | 263.23 | 13.91 | 53.26 | 96.47 | -6.8 | 16.12 | 3.53 | 301.18 | -79.14 | 2.61 | -5.78 | -38.44 |
| 20Q4 (8) | 5.92 | 19.84 | -7.64 | 1.94 | 106.38 | 70.18 | 1.89 | 103.23 | 200.0 | 1.44 | 69.41 | 176.92 | 2.54 | 67.11 | 273.53 | 0.82 | 43.86 | 148.48 | 0.54 | -11.48 | 14.89 | 2.25 | 73.08 | 85.95 | 231.09 | 5.58 | 38.45 | 103.51 | 3.51 | -43.93 | -1.75 | 0 | 97.93 | 2.77 | 2.21 | -32.27 |
| 20Q3 (7) | 4.94 | -51.76 | -37.63 | 0.94 | -80.93 | -67.25 | 0.93 | -79.19 | -64.77 | 0.85 | -75.64 | -58.94 | 1.52 | -67.03 | -48.99 | 0.57 | -68.33 | -47.71 | 0.61 | 22.0 | 29.79 | 1.30 | -74.0 | -59.88 | 218.87 | 38.25 | 10.76 | 100.00 | -9.17 | -7.58 | 0.00 | 100.0 | 100.0 | 2.71 | 0 | -19.1 |
| 20Q2 (6) | 10.24 | 21.33 | 22.93 | 4.93 | 83.27 | 90.35 | 4.47 | 37.12 | 66.79 | 3.49 | 34.23 | 76.26 | 4.61 | 46.82 | 77.99 | 1.80 | 45.16 | 81.82 | 0.50 | 11.11 | 16.28 | 5.00 | 29.87 | 47.06 | 158.32 | -7.82 | -25.45 | 110.10 | 32.53 | 14.1 | -10.10 | -159.69 | -387.88 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 8.44 | 31.67 | 13.29 | 2.69 | 135.96 | 31.86 | 3.26 | 417.46 | 98.78 | 2.60 | 400.0 | 95.49 | 3.14 | 361.76 | 89.16 | 1.24 | 275.76 | 69.86 | 0.45 | -4.26 | 9.76 | 3.85 | 218.18 | 52.17 | 171.75 | 2.9 | -12.5 | 83.08 | -55.0 | -32.75 | 16.92 | 120.0 | 171.92 | 4.24 | 3.67 | 11.58 |
| 19Q4 (4) | 6.41 | -19.07 | 0.0 | 1.14 | -60.28 | 0.0 | 0.63 | -76.14 | 0.0 | 0.52 | -74.88 | 0.0 | 0.68 | -77.18 | 0.0 | 0.33 | -69.72 | 0.0 | 0.47 | 0.0 | 0.0 | 1.21 | -62.65 | 0.0 | 166.91 | -15.53 | 0.0 | 184.62 | 70.63 | 0.0 | -84.62 | -932.31 | 0.0 | 4.09 | 22.09 | 0.0 |
| 19Q3 (3) | 7.92 | -4.92 | 0.0 | 2.87 | 10.81 | 0.0 | 2.64 | -1.49 | 0.0 | 2.07 | 4.55 | 0.0 | 2.98 | 15.06 | 0.0 | 1.09 | 10.1 | 0.0 | 0.47 | 9.3 | 0.0 | 3.24 | -4.71 | 0.0 | 197.60 | -6.96 | 0.0 | 108.20 | 12.13 | 0.0 | -8.20 | -333.61 | 0.0 | 3.35 | -11.61 | 0.0 |
| 19Q2 (2) | 8.33 | 11.81 | 0.0 | 2.59 | 26.96 | 0.0 | 2.68 | 63.41 | 0.0 | 1.98 | 48.87 | 0.0 | 2.59 | 56.02 | 0.0 | 0.99 | 35.62 | 0.0 | 0.43 | 4.88 | 0.0 | 3.40 | 34.39 | 0.0 | 212.38 | 8.2 | 0.0 | 96.49 | -21.89 | 0.0 | 3.51 | 114.91 | 0.0 | 3.79 | -0.26 | 0.0 |
| 19Q1 (1) | 7.45 | 0.0 | 0.0 | 2.04 | 0.0 | 0.0 | 1.64 | 0.0 | 0.0 | 1.33 | 0.0 | 0.0 | 1.66 | 0.0 | 0.0 | 0.73 | 0.0 | 0.0 | 0.41 | 0.0 | 0.0 | 2.53 | 0.0 | 0.0 | 196.28 | 0.0 | 0.0 | 123.53 | 0.0 | 0.0 | -23.53 | 0.0 | 0.0 | 3.80 | 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) | 9.23 | 0.98 | 4.50 | -8.16 | 0.28 | 25.58 | 2.98 | -38.93 | 2.38 | -38.34 | 13.30 | -49.02 | 5.59 | -30.04 | 1.64 | -13.68 | 4.54 | -18.2 | 184.68 | -37.01 | 151.39 | 50.56 | -51.39 | 0 | 0.03 | 177.22 | 3.47 | 9.46 |
| 2022 (9) | 9.14 | 20.42 | 4.90 | 31.37 | 0.23 | 4.4 | 4.88 | 28.76 | 3.86 | 30.41 | 26.09 | 16.27 | 7.99 | 11.9 | 1.90 | -19.49 | 5.55 | 35.37 | 293.21 | 37.94 | 100.55 | 2.24 | -0.55 | 0 | 0.01 | -66.25 | 3.17 | 13.21 |
| 2021 (8) | 7.59 | 7.51 | 3.73 | 52.87 | 0.22 | -25.85 | 3.79 | 55.33 | 2.96 | 52.58 | 22.44 | 90.01 | 7.14 | 72.46 | 2.36 | 16.26 | 4.10 | 42.86 | 212.56 | -8.02 | 98.34 | -1.66 | 1.66 | 0 | 0.03 | -39.8 | 2.80 | -14.89 |
| 2020 (7) | 7.06 | -6.24 | 2.44 | 12.44 | 0.29 | -6.48 | 2.44 | 27.75 | 1.94 | 30.2 | 11.81 | 50.06 | 4.14 | 28.57 | 2.03 | 12.78 | 2.87 | 9.96 | 231.09 | 38.45 | 100.00 | -12.23 | -0.40 | 0 | 0.05 | -24.32 | 3.29 | -14.32 |
| 2019 (6) | 7.53 | -16.61 | 2.17 | -41.03 | 0.31 | 1239.51 | 1.91 | -41.41 | 1.49 | -38.43 | 7.87 | -40.92 | 3.22 | -40.04 | 1.80 | -10.0 | 2.61 | -27.9 | 166.91 | -24.46 | 113.94 | 0.92 | -13.94 | 0 | 0.07 | 79.83 | 3.84 | 4.63 |
| 2018 (5) | 9.03 | 2.96 | 3.68 | 26.9 | 0.02 | -27.16 | 3.26 | 2.84 | 2.42 | -3.97 | 13.32 | 24.25 | 5.37 | 20.13 | 2.00 | 21.21 | 3.62 | 5.85 | 220.95 | 79.33 | 112.90 | 22.88 | -12.54 | 0 | 0.04 | 0 | 3.67 | -6.62 |
| 2017 (4) | 8.77 | 33.28 | 2.90 | 34.88 | 0.03 | 29.24 | 3.17 | 44.09 | 2.52 | 50.9 | 10.72 | 13.08 | 4.47 | 35.05 | 1.65 | -12.23 | 3.42 | 45.53 | 123.21 | -35.96 | 91.88 | -6.54 | 8.63 | 409.14 | 0.00 | 0 | 3.93 | 35.05 |
| 2016 (3) | 6.58 | -28.63 | 2.15 | -36.39 | 0.02 | -30.4 | 2.20 | -31.68 | 1.67 | -32.93 | 9.48 | -8.23 | 3.31 | -22.48 | 1.88 | 11.9 | 2.35 | -29.43 | 192.39 | -9.77 | 98.31 | -6.35 | 1.69 | 0 | 0.00 | 0 | 2.91 | -24.22 |
| 2015 (2) | 9.22 | -7.52 | 3.38 | 8.68 | 0.04 | -23.41 | 3.22 | -0.31 | 2.49 | 0.0 | 10.33 | 22.25 | 4.27 | -19.28 | 1.68 | -19.62 | 3.33 | 0.0 | 213.22 | 173.85 | 104.97 | 8.89 | -4.97 | 0 | 0.00 | 0 | 3.84 | -15.79 |
| 2014 (1) | 9.97 | 0 | 3.11 | 0 | 0.05 | -30.01 | 3.23 | 0 | 2.49 | 0 | 8.45 | 0 | 5.29 | 0 | 2.09 | 18.08 | 3.33 | 79.03 | 77.86 | 71.42 | 96.40 | 18.82 | 3.60 | -80.94 | 0.00 | 0 | 4.56 | -25.49 |
