- 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) | 40.09 | -7.03 | 228.34 | 8.59 | -30.56 | 150.86 | 0.73 | -96.54 | 102.74 | 3.08 | -82.91 | 115.55 | 0.40 | -84.79 | 122.1 | 0.31 | -84.34 | 124.03 | 0.10 | -9.09 | 42.86 | 4.64 | -81.16 | 122.17 | 31.10 | 7.5 | -13.18 | 1300.00 | 2124.1 | 1960.0 | -1175.00 | -2927.97 | -3284.87 | 22.18 | 2.5 | 60.96 |
| 23Q3 (19) | 43.12 | -9.64 | 15.14 | 12.37 | -33.74 | 219.64 | 21.10 | -13.17 | -4.95 | 18.02 | -8.71 | -0.83 | 2.63 | -21.96 | 12.88 | 1.98 | -20.16 | 28.57 | 0.11 | -15.38 | 37.5 | 24.63 | -9.71 | -6.21 | 28.93 | -23.89 | -29.78 | 58.45 | -23.72 | 231.22 | 41.55 | 77.79 | -49.55 | 21.64 | 6.03 | -6.12 |
| 23Q2 (18) | 47.72 | -5.0 | 2.21 | 18.67 | 8.04 | -10.97 | 24.30 | 45.16 | -7.22 | 19.74 | 41.81 | -5.91 | 3.37 | 71.07 | -30.94 | 2.48 | 67.57 | -18.15 | 0.13 | 18.18 | -7.14 | 27.28 | 33.99 | -3.6 | 38.01 | 13.77 | -42.28 | 76.63 | -25.58 | -4.39 | 23.37 | 886.78 | 17.75 | 20.41 | -14.99 | 5.97 |
| 23Q1 (17) | 50.23 | 311.38 | 10.27 | 17.28 | 202.31 | -19.14 | 16.74 | 162.72 | -39.17 | 13.92 | 170.27 | -38.57 | 1.97 | 208.84 | -57.27 | 1.48 | 214.73 | -50.83 | 0.11 | 57.14 | -15.38 | 20.36 | 197.28 | -31.77 | 33.41 | -6.73 | -42.03 | 102.97 | 63.17 | 32.24 | -2.97 | -108.05 | -113.18 | 24.01 | 74.24 | 33.02 |
| 22Q4 (16) | 12.21 | -67.4 | -77.96 | -16.89 | -536.43 | -147.79 | -26.69 | -220.23 | -176.81 | -19.81 | -209.03 | -170.72 | -1.81 | -177.68 | -122.18 | -1.29 | -183.77 | -123.16 | 0.07 | -12.5 | -65.0 | -20.93 | -179.7 | -157.55 | 35.82 | -13.06 | -27.46 | 63.11 | 257.61 | -37.95 | 36.89 | -55.2 | 2271.43 | 13.78 | -40.22 | -15.98 |
| 22Q3 (15) | 37.45 | -19.79 | -22.75 | 3.87 | -81.55 | -86.09 | 22.20 | -15.23 | -21.22 | 18.17 | -13.39 | -22.78 | 2.33 | -52.25 | -62.6 | 1.54 | -49.17 | -64.84 | 0.08 | -42.86 | -57.89 | 26.26 | -7.21 | -12.5 | 41.20 | -37.43 | -5.57 | 17.65 | -77.98 | -82.11 | 82.35 | 314.93 | 6014.71 | 23.05 | 19.68 | 46.72 |
| 22Q2 (14) | 46.69 | 2.5 | 12.59 | 20.97 | -1.87 | -0.99 | 26.19 | -4.83 | 35.84 | 20.98 | -7.41 | 30.64 | 4.88 | 5.86 | 33.7 | 3.03 | 0.66 | 9.78 | 0.14 | 7.69 | -17.65 | 28.30 | -5.16 | 32.24 | 65.85 | 14.26 | 59.64 | 80.15 | 2.93 | -26.98 | 19.85 | -11.95 | 303.14 | 19.26 | 6.7 | 36.6 |
| 22Q1 (13) | 45.55 | -17.76 | 9.34 | 21.37 | -39.53 | -10.13 | 27.52 | -20.81 | 16.61 | 22.66 | -19.1 | 15.08 | 4.61 | -43.5 | -12.36 | 3.01 | -45.96 | -29.18 | 0.13 | -35.0 | -40.91 | 29.84 | -17.95 | 18.79 | 57.63 | 16.71 | 147.45 | 77.87 | -23.43 | -22.46 | 22.54 | 1426.7 | 2771.11 | 18.05 | 10.06 | 32.53 |
| 21Q4 (12) | 55.39 | 14.25 | 38.89 | 35.34 | 26.99 | 63.31 | 34.75 | 23.31 | 60.81 | 28.01 | 19.04 | 51.82 | 8.16 | 30.98 | 60.63 | 5.57 | 27.17 | 38.21 | 0.20 | 5.26 | -9.09 | 36.37 | 21.19 | 57.51 | 49.38 | 13.18 | 102.54 | 101.70 | 3.09 | 1.19 | -1.70 | -226.15 | 0 | 16.40 | 4.39 | 37.35 |
| 21Q3 (11) | 48.48 | 16.9 | 31.7 | 27.83 | 31.4 | 41.34 | 28.18 | 46.16 | 52.49 | 23.53 | 46.51 | 52.59 | 6.23 | 70.68 | 31.71 | 4.38 | 58.7 | 28.07 | 0.19 | 11.76 | -13.64 | 30.01 | 40.23 | 50.05 | 43.63 | 5.77 | 54.83 | 98.65 | -10.13 | -7.12 | 1.35 | 113.78 | 119.71 | 15.71 | 11.42 | 28.98 |
| 21Q2 (10) | 41.47 | -0.46 | 15.74 | 21.18 | -10.93 | 18.39 | 19.28 | -18.31 | 15.8 | 16.06 | -18.44 | 19.05 | 3.65 | -30.61 | -1.08 | 2.76 | -35.06 | 6.56 | 0.17 | -22.73 | -10.53 | 21.40 | -14.81 | 15.05 | 41.25 | 77.11 | -19.75 | 109.77 | 9.31 | 2.23 | -9.77 | -1057.76 | -32.44 | 14.10 | 3.52 | 0 |
| 21Q1 (9) | 41.66 | 4.46 | 14.89 | 23.78 | 9.89 | 50.32 | 23.60 | 9.21 | 24.6 | 19.69 | 6.72 | 24.7 | 5.26 | 3.54 | 36.62 | 4.25 | 5.46 | 47.06 | 0.22 | 0.0 | 22.22 | 25.12 | 8.79 | 19.28 | 23.29 | -4.47 | -33.97 | 100.42 | -0.08 | 20.7 | -0.84 | 0 | -105.02 | 13.62 | 14.07 | 0 |
| 20Q4 (8) | 39.88 | 8.34 | -5.48 | 21.64 | 9.9 | -8.11 | 21.61 | 16.94 | 21.68 | 18.45 | 19.65 | 26.72 | 5.08 | 7.4 | 12.64 | 4.03 | 17.84 | 19.94 | 0.22 | 0.0 | -4.35 | 23.09 | 15.45 | 18.47 | 24.38 | -13.48 | -24.98 | 100.50 | -5.38 | -24.35 | 0.00 | 100.0 | 100.0 | 11.94 | -1.97 | -12.46 |
| 20Q3 (7) | 36.81 | 2.74 | -4.39 | 19.69 | 10.06 | 17.9 | 18.48 | 10.99 | 4.35 | 15.42 | 14.31 | 4.12 | 4.73 | 28.18 | 15.65 | 3.42 | 32.05 | 17.93 | 0.22 | 15.79 | 10.0 | 20.00 | 7.53 | 1.52 | 28.18 | -45.18 | -23.44 | 106.21 | -1.09 | 12.91 | -6.83 | 7.38 | -215.17 | 12.18 | 0 | -22.57 |
| 20Q2 (6) | 35.83 | -1.19 | -23.57 | 17.89 | 13.08 | -31.98 | 16.65 | -12.09 | -42.15 | 13.49 | -14.57 | -42.1 | 3.69 | -4.16 | -51.32 | 2.59 | -10.38 | -53.25 | 0.19 | 5.56 | -20.83 | 18.60 | -11.68 | -38.96 | 51.40 | 45.73 | 10.04 | 107.38 | 29.06 | 17.85 | -7.38 | -143.91 | -187.36 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 36.26 | -14.06 | -10.16 | 15.82 | -32.82 | -2.71 | 18.94 | 6.64 | -1.66 | 15.79 | 8.45 | -2.17 | 3.85 | -14.63 | 8.76 | 2.89 | -13.99 | 7.04 | 0.18 | -21.74 | 5.88 | 21.06 | 8.06 | -2.64 | 35.27 | 8.52 | 24.94 | 83.20 | -37.38 | -2.29 | 16.80 | 151.13 | 6.05 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 42.19 | 9.58 | 0.0 | 23.55 | 41.02 | 0.0 | 17.76 | 0.28 | 0.0 | 14.56 | -1.69 | 0.0 | 4.51 | 10.27 | 0.0 | 3.36 | 15.86 | 0.0 | 0.23 | 15.0 | 0.0 | 19.49 | -1.07 | 0.0 | 32.50 | -11.71 | 0.0 | 132.86 | 41.24 | 0.0 | -32.86 | -653.88 | 0.0 | 13.64 | -13.29 | 0.0 |
| 19Q3 (3) | 38.50 | -17.88 | 0.0 | 16.70 | -36.5 | 0.0 | 17.71 | -38.46 | 0.0 | 14.81 | -36.44 | 0.0 | 4.09 | -46.04 | 0.0 | 2.90 | -47.65 | 0.0 | 0.20 | -16.67 | 0.0 | 19.70 | -35.35 | 0.0 | 36.81 | -21.19 | 0.0 | 94.07 | 3.25 | 0.0 | 5.93 | -29.75 | 0.0 | 15.73 | 0.83 | 0.0 |
| 19Q2 (2) | 46.88 | 16.15 | 0.0 | 26.30 | 61.75 | 0.0 | 28.78 | 49.43 | 0.0 | 23.30 | 44.36 | 0.0 | 7.58 | 114.12 | 0.0 | 5.54 | 105.19 | 0.0 | 0.24 | 41.18 | 0.0 | 30.47 | 40.87 | 0.0 | 46.71 | 65.46 | 0.0 | 91.11 | 7.0 | 0.0 | 8.44 | -46.69 | 0.0 | 15.60 | -13.19 | 0.0 |
| 19Q1 (1) | 40.36 | 0.0 | 0.0 | 16.26 | 0.0 | 0.0 | 19.26 | 0.0 | 0.0 | 16.14 | 0.0 | 0.0 | 3.54 | 0.0 | 0.0 | 2.70 | 0.0 | 0.0 | 0.17 | 0.0 | 0.0 | 21.63 | 0.0 | 0.0 | 28.23 | 0.0 | 0.0 | 85.15 | 0.0 | 0.0 | 15.84 | 0.0 | 0.0 | 17.97 | 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) | 45.37 | 13.91 | 14.43 | 14.25 | 1.71 | 8.98 | 16.35 | -11.95 | 14.15 | -7.88 | 8.36 | -18.28 | 6.29 | -13.12 | 0.44 | -6.38 | 19.83 | -8.15 | 31.10 | -13.18 | 88.40 | 29.98 | 11.83 | -63.01 | 1.24 | -16.78 | 21.95 | 16.45 |
| 2022 (9) | 39.83 | -15.76 | 12.63 | -54.16 | 1.57 | 47.35 | 18.57 | -31.25 | 15.36 | -30.97 | 10.23 | -56.23 | 7.24 | -57.34 | 0.47 | -38.16 | 21.59 | -24.98 | 35.82 | -27.46 | 68.01 | -33.3 | 31.99 | 0 | 1.49 | -1.55 | 18.85 | 25.25 |
| 2021 (8) | 47.28 | 26.52 | 27.55 | 44.7 | 1.06 | -3.24 | 27.01 | 41.64 | 22.25 | 39.67 | 23.37 | 44.71 | 16.97 | 33.94 | 0.76 | -3.8 | 28.78 | 38.37 | 49.38 | 102.54 | 101.97 | 2.13 | -1.97 | 0 | 1.51 | -18.27 | 15.05 | 18.04 |
| 2020 (7) | 37.37 | -11.61 | 19.04 | -10.57 | 1.10 | -5.24 | 19.07 | -9.83 | 15.93 | -8.4 | 16.15 | -15.89 | 12.67 | -11.89 | 0.79 | -3.66 | 20.80 | -9.8 | 24.38 | -24.98 | 99.84 | -0.84 | 0.16 | 0 | 1.85 | -16.73 | 12.75 | -17.85 |
| 2019 (6) | 42.28 | 5.36 | 21.29 | 2.9 | 1.16 | 140.41 | 21.15 | -7.28 | 17.39 | -7.15 | 19.20 | -22.89 | 14.38 | -19.44 | 0.82 | -13.68 | 23.06 | -4.16 | 32.50 | -9.04 | 100.68 | 11.07 | -0.68 | 0 | 2.23 | -15.25 | 15.52 | 11.74 |
| 2018 (5) | 40.13 | 1.67 | 20.69 | 0.34 | 0.48 | 19.91 | 22.81 | 23.43 | 18.73 | 18.92 | 24.90 | 4.01 | 17.85 | 9.71 | 0.95 | -7.77 | 24.06 | 22.19 | 35.73 | -19.27 | 90.65 | -18.67 | 9.35 | 0 | 2.63 | 0 | 13.89 | 2.74 |
| 2017 (4) | 39.47 | 8.52 | 20.62 | 26.12 | 0.40 | -10.89 | 18.48 | 13.93 | 15.75 | 19.05 | 23.94 | 8.92 | 16.27 | 13.54 | 1.03 | -4.63 | 19.69 | 11.68 | 44.26 | -14.16 | 111.46 | 10.62 | -11.46 | 0 | 0.00 | 0 | 13.52 | -1.89 |
| 2016 (3) | 36.37 | 21.72 | 16.35 | 58.89 | 0.45 | -14.02 | 16.22 | 44.82 | 13.23 | 45.87 | 21.98 | 50.55 | 14.33 | 48.81 | 1.08 | 2.86 | 17.63 | 34.89 | 51.56 | -10.8 | 100.76 | 9.62 | -0.76 | 0 | 0.00 | 0 | 13.78 | 15.31 |
| 2015 (2) | 29.88 | -9.26 | 10.29 | 4.79 | 0.52 | -22.32 | 11.20 | -3.2 | 9.07 | -2.05 | 14.60 | 6.8 | 9.63 | 1.37 | 1.05 | 2.94 | 13.07 | -5.36 | 57.80 | 16.93 | 91.91 | 8.57 | 8.09 | -47.31 | 0.00 | 0 | 11.95 | -15.96 |
| 2014 (1) | 32.93 | 0 | 9.82 | 0 | 0.68 | -8.03 | 11.57 | 0 | 9.26 | 0 | 13.67 | 0 | 9.50 | 0 | 1.02 | -4.67 | 13.81 | -15.28 | 49.43 | 32.13 | 84.66 | -12.6 | 15.34 | 388.45 | 0.00 | 0 | 14.22 | 29.27 |
