- 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) | 78.54 | -0.24 | 0.81 | 19.94 | 144.36 | 64.12 | 14.59 | 9.78 | 83.52 | 10.44 | -0.67 | 90.16 | 2.41 | -0.82 | 68.53 | 2.04 | 0.0 | 74.36 | 0.19 | 0.0 | -9.52 | 16.84 | 7.19 | 72.9 | 18.00 | -8.3 | -24.56 | 134.48 | 110.13 | -10.34 | -34.48 | -186.21 | 31.03 | 27.82 | -14.61 | -27.32 |
| 23Q3 (19) | 78.73 | -1.62 | 1.05 | 8.16 | -54.31 | -6.53 | 13.29 | -42.14 | -29.42 | 10.51 | -42.35 | -23.4 | 2.43 | -45.27 | -33.42 | 2.04 | -45.74 | -31.08 | 0.19 | -9.52 | -13.64 | 15.71 | -38.13 | -24.22 | 19.63 | 1.92 | -15.75 | 64.00 | -19.54 | 35.53 | 40.00 | 76.0 | -28.0 | 32.58 | 9.04 | -12.4 |
| 23Q2 (18) | 80.03 | 3.85 | 4.36 | 17.86 | -0.06 | -7.6 | 22.97 | 32.93 | -5.63 | 18.23 | 34.34 | -4.0 | 4.44 | 29.07 | -15.91 | 3.76 | 31.47 | -10.69 | 0.21 | 0.0 | -4.55 | 25.39 | 33.14 | -4.41 | 19.26 | 9.0 | -18.7 | 79.55 | -25.0 | 1.04 | 22.73 | 850.0 | 6.82 | 29.88 | -4.35 | -17.96 |
| 23Q1 (17) | 77.06 | -1.09 | -1.34 | 17.87 | 47.08 | 18.11 | 17.28 | 117.36 | -14.2 | 13.57 | 147.18 | -18.99 | 3.44 | 140.56 | -33.33 | 2.86 | 144.44 | -26.1 | 0.21 | 0.0 | -8.7 | 19.07 | 95.79 | -15.24 | 17.67 | -25.94 | -36.3 | 106.06 | -29.29 | 41.41 | -3.03 | 93.94 | -112.12 | 31.24 | -18.39 | -14.9 |
| 22Q4 (16) | 77.91 | 0.0 | 3.94 | 12.15 | 39.18 | 226.56 | 7.95 | -57.78 | 172.4 | 5.49 | -59.99 | 202.43 | 1.43 | -60.82 | 196.62 | 1.17 | -60.47 | 212.5 | 0.21 | -4.55 | 5.0 | 9.74 | -53.01 | 212.34 | 23.86 | 2.4 | -39.85 | 150.00 | 217.65 | 67.65 | -50.00 | -190.0 | -575.0 | 38.28 | 2.93 | -19.83 |
| 22Q3 (15) | 77.91 | 1.59 | 5.91 | 8.73 | -54.84 | 134.06 | 18.83 | -22.64 | 122.54 | 13.72 | -27.75 | 118.98 | 3.65 | -30.87 | 118.29 | 2.96 | -29.69 | 121.1 | 0.22 | 0.0 | 15.79 | 20.73 | -21.95 | 125.78 | 23.30 | -1.65 | -45.64 | 47.22 | -40.02 | 52.27 | 55.56 | 161.11 | -20.2 | 37.19 | 2.11 | -3.38 |
| 22Q2 (14) | 76.69 | -1.82 | 11.23 | 19.33 | 27.76 | 187.51 | 24.34 | 20.85 | 208.56 | 18.99 | 13.37 | 181.29 | 5.28 | 2.33 | 191.19 | 4.21 | 8.79 | 199.76 | 0.22 | -4.35 | 22.22 | 26.56 | 18.04 | 244.98 | 23.69 | -14.6 | -42.93 | 78.72 | 4.96 | -19.4 | 21.28 | -14.89 | 814.89 | 36.42 | -0.79 | -0.22 |
| 22Q1 (13) | 78.11 | 4.2 | 15.8 | 15.13 | 257.6 | 138.64 | 20.14 | 283.42 | 46.26 | 16.75 | 412.5 | 61.21 | 5.16 | 448.65 | 110.61 | 3.87 | 472.12 | 108.06 | 0.23 | 15.0 | 27.78 | 22.50 | 359.52 | 14.39 | 27.74 | -30.07 | -15.06 | 75.00 | -16.18 | 56.25 | 25.00 | 137.5 | -55.36 | 36.71 | -23.12 | 3.06 |
| 21Q4 (12) | 74.96 | 1.9 | 20.15 | -9.60 | 62.54 | -482.47 | -10.98 | 86.86 | -497.83 | -5.36 | 92.59 | -156.13 | -1.48 | 92.59 | -161.16 | -1.04 | 92.59 | -156.52 | 0.20 | 5.26 | 5.26 | -8.67 | 89.22 | -197.97 | 39.67 | -7.44 | 21.24 | 89.47 | 188.51 | -10.53 | 10.53 | -84.88 | 0 | 47.75 | 24.06 | 24.97 |
| 21Q3 (11) | 73.56 | 6.69 | 28.09 | -25.63 | -16.03 | -85533.33 | -83.55 | -272.66 | -4229.02 | -72.30 | -209.5 | -1716.58 | -19.96 | -244.73 | -1447.29 | -14.03 | -232.46 | -1346.39 | 0.19 | 5.56 | -24.0 | -80.42 | -338.97 | -3395.9 | 42.86 | 3.25 | 31.88 | 31.01 | -68.25 | 0 | 69.62 | 2893.67 | -30.38 | 38.49 | 5.45 | 61.18 |
| 21Q2 (10) | 68.95 | 2.22 | 10.21 | -22.09 | -448.42 | -321.79 | -22.42 | -262.82 | -338.0 | -23.36 | -324.83 | -394.58 | -5.79 | -336.33 | -434.68 | -4.22 | -326.88 | -414.93 | 0.18 | 0.0 | 5.88 | -18.32 | -193.14 | -238.26 | 41.51 | 27.1 | 38.55 | 97.67 | 103.49 | -2.33 | 2.33 | -95.85 | 137.21 | 36.50 | 2.47 | 0 |
| 21Q1 (9) | 67.45 | 8.11 | 5.01 | 6.34 | 152.59 | -63.03 | 13.77 | 398.91 | -41.8 | 10.39 | 8.8 | -46.58 | 2.45 | 1.24 | -60.67 | 1.86 | 1.09 | -58.57 | 0.18 | -5.26 | -21.74 | 19.67 | 122.26 | -32.59 | 32.66 | -0.18 | 4.68 | 48.00 | -52.0 | -34.0 | 56.00 | 0 | 105.33 | 35.62 | -6.78 | 68.5 |
| 20Q4 (8) | 62.39 | 8.64 | -6.82 | 2.51 | 8266.67 | -88.38 | 2.76 | 243.01 | -87.94 | 9.55 | 339.95 | -31.54 | 2.42 | 287.6 | -71.36 | 1.84 | 289.69 | -72.12 | 0.19 | -24.0 | -59.57 | 8.85 | 262.7 | -65.31 | 32.72 | 0.68 | -34.76 | 100.00 | 0 | 6.3 | 0.00 | -100.0 | -100.0 | 38.21 | 60.01 | 133.7 |
| 20Q3 (7) | 57.43 | -8.2 | 105.55 | 0.03 | -99.7 | 101.26 | -1.93 | -120.49 | 95.17 | -3.98 | -150.19 | 87.85 | -1.29 | -174.57 | 80.63 | -0.97 | -172.39 | 81.42 | 0.25 | 47.06 | 56.25 | 2.44 | -81.58 | 110.3 | 32.50 | 8.48 | 105.05 | -0.00 | -100.0 | -100.0 | 100.00 | 1700.0 | 6.38 | 23.88 | 0 | 158.44 |
| 20Q2 (6) | 62.56 | -2.6 | 69.36 | 9.96 | -41.92 | 314.19 | 9.42 | -60.19 | 231.2 | 7.93 | -59.23 | 236.02 | 1.73 | -72.23 | 198.3 | 1.34 | -70.16 | 197.81 | 0.17 | -26.09 | -29.17 | 13.25 | -54.59 | 223.96 | 29.96 | -3.97 | -23.65 | 100.00 | 37.5 | 55.56 | -6.25 | -122.92 | -117.5 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 64.23 | -4.08 | 136.23 | 17.15 | -20.6 | 392.66 | 23.66 | 3.36 | 1456.58 | 19.45 | 39.43 | 8004.17 | 6.23 | -26.27 | 15475.0 | 4.49 | -31.97 | 11125.0 | 0.23 | -51.06 | 53.33 | 29.18 | 14.39 | 86.81 | 31.20 | -37.79 | 66.22 | 72.73 | -22.69 | 119.39 | 27.27 | 360.23 | -94.26 | 21.14 | 29.3 | 144.96 |
| 19Q4 (4) | 66.96 | 139.66 | 0.0 | 21.60 | 1003.77 | 0.0 | 22.89 | 157.27 | 0.0 | 13.95 | 142.57 | 0.0 | 8.45 | 226.88 | 0.0 | 6.60 | 226.44 | 0.0 | 0.47 | 193.75 | 0.0 | 25.51 | 207.68 | 0.0 | 50.15 | 216.4 | 0.0 | 94.07 | 1467.9 | 0.0 | 5.93 | -93.7 | 0.0 | 16.35 | 76.95 | 0.0 |
| 19Q3 (3) | 27.94 | -24.36 | 0.0 | -2.39 | 48.6 | 0.0 | -39.97 | -456.69 | 0.0 | -32.77 | -462.09 | 0.0 | -6.66 | -278.41 | 0.0 | -5.22 | -281.02 | 0.0 | 0.16 | -33.33 | 0.0 | -23.69 | -679.22 | 0.0 | 15.85 | -59.61 | 0.0 | 6.00 | -90.67 | 0.0 | 94.00 | 163.2 | 0.0 | 9.24 | 84.06 | 0.0 |
| 19Q2 (2) | 36.94 | 35.86 | 0.0 | -4.65 | 20.65 | 0.0 | -7.18 | -572.37 | 0.0 | -5.83 | -2529.17 | 0.0 | -1.76 | -4500.0 | 0.0 | -1.37 | -3525.0 | 0.0 | 0.24 | 60.0 | 0.0 | 4.09 | -73.82 | 0.0 | 39.24 | 109.06 | 0.0 | 64.29 | 117.14 | 0.0 | 35.71 | -92.48 | 0.0 | 5.02 | -41.83 | 0.0 |
| 19Q1 (1) | 27.19 | 0.0 | 0.0 | -5.86 | 0.0 | 0.0 | 1.52 | 0.0 | 0.0 | 0.24 | 0.0 | 0.0 | 0.04 | 0.0 | 0.0 | 0.04 | 0.0 | 0.0 | 0.15 | 0.0 | 0.0 | 15.62 | 0.0 | 0.0 | 18.77 | 0.0 | 0.0 | -375.00 | 0.0 | 0.0 | 475.00 | 0.0 | 0.0 | 8.63 | 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) | 78.59 | 1.2 | 15.99 | 15.62 | 2.07 | 0.9 | 17.03 | -4.33 | 13.18 | -4.01 | 12.71 | -18.05 | 10.56 | -10.96 | 0.80 | -6.98 | 19.25 | -3.02 | 18.00 | -24.56 | 93.94 | 20.9 | 6.06 | -72.83 | 0.30 | -7.92 | 30.37 | -18.25 |
| 2022 (9) | 77.66 | 9.12 | 13.83 | 0 | 2.05 | -5.76 | 17.80 | 0 | 13.73 | 0 | 15.51 | 0 | 11.86 | 0 | 0.86 | 11.69 | 19.85 | 0 | 23.86 | -39.85 | 77.70 | 57.82 | 22.30 | -56.07 | 0.32 | -5.05 | 37.15 | -5.78 |
| 2021 (8) | 71.17 | 15.76 | -13.00 | 0 | 2.17 | 29.97 | -26.45 | 0 | -23.33 | 0 | -24.56 | 0 | -18.03 | 0 | 0.77 | -4.94 | -22.42 | 0 | 39.67 | 21.24 | 49.23 | -42.7 | 50.77 | 260.46 | 0.34 | -97.68 | 39.43 | 41.83 |
| 2020 (7) | 61.48 | 34.71 | 7.34 | 23.99 | 1.67 | 254.6 | 8.53 | 1084.72 | 8.02 | 0 | 9.11 | 0 | 6.55 | 0 | 0.81 | -22.12 | 13.50 | 36.23 | 32.72 | -34.76 | 85.92 | -89.26 | 14.08 | 0 | 14.65 | -0.45 | 27.80 | 156.46 |
| 2019 (6) | 45.64 | -1.66 | 5.92 | -52.33 | 0.47 | 455.42 | 0.72 | -94.59 | -1.47 | 0 | -2.08 | 0 | -1.51 | 0 | 1.04 | -32.47 | 9.91 | -50.77 | 50.15 | 74.74 | 800.00 | 757.53 | -700.00 | 0 | 14.72 | 13.27 | 10.84 | 47.48 |
| 2018 (5) | 46.41 | 35.11 | 12.42 | 0 | 0.08 | -53.8 | 13.30 | 0 | 10.82 | 0 | 22.84 | 0 | 16.67 | 0 | 1.54 | 0.0 | 20.13 | 106.67 | 28.70 | -44.81 | 93.29 | 4797.76 | 6.71 | -93.16 | 12.99 | 0 | 7.35 | 28.72 |
| 2017 (4) | 34.35 | -21.38 | -0.10 | 0 | 0.18 | -15.78 | -4.84 | 0 | -4.48 | 0 | -10.93 | 0 | -6.74 | 0 | 1.54 | -31.86 | 9.74 | -15.3 | 52.00 | -19.72 | 1.90 | -98.28 | 98.10 | 0 | 0.00 | 0 | 5.71 | -16.15 |
| 2016 (3) | 43.69 | 7.03 | 4.90 | 157.89 | 0.22 | -42.6 | 4.43 | 17.2 | 3.48 | 10.13 | 14.10 | -23.24 | 7.96 | 2.31 | 2.26 | -7.0 | 11.50 | 16.99 | 64.77 | -43.2 | 110.66 | 121.31 | -10.66 | 0 | 0.00 | 0 | 6.81 | -35.75 |
| 2015 (2) | 40.82 | -5.11 | 1.90 | -54.44 | 0.38 | -32.4 | 3.78 | -12.09 | 3.16 | 32.22 | 18.37 | 18.06 | 7.78 | 30.76 | 2.43 | -2.02 | 9.83 | -4.0 | 114.03 | -37.63 | 50.00 | -48.65 | 50.00 | 1800.0 | 0.00 | 0 | 10.60 | 0.0 |
| 2014 (1) | 43.02 | 0 | 4.17 | 0 | 0.56 | 9.11 | 4.30 | 0 | 2.39 | 0 | 15.56 | 0 | 5.95 | 0 | 2.48 | -31.3 | 10.24 | 0 | 182.83 | 225.15 | 97.37 | -2.63 | 2.63 | 0 | 0.00 | 0 | 10.60 | -7.18 |
