- 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) | 27.23 | 13.46 | 2.21 | 1.85 | 263.72 | -67.77 | 2.69 | 306.92 | -44.54 | 1.51 | 238.53 | -55.72 | 0.70 | 259.09 | -57.58 | 0.39 | 1850.0 | -46.58 | 0.15 | 15.38 | -11.76 | 7.06 | 83.38 | -16.45 | 205.89 | 1.87 | 10.95 | 70.00 | -23.64 | -41.32 | 30.00 | 80.0 | 255.45 | 13.33 | -8.32 | 19.12 |
| 23Q3 (19) | 24.00 | -6.76 | -13.79 | -1.13 | -146.89 | -121.12 | -1.30 | -149.81 | -128.02 | -1.09 | -212.37 | -135.39 | -0.44 | -210.0 | -133.08 | 0.02 | -93.1 | -96.43 | 0.13 | -7.14 | -13.33 | 3.85 | -47.55 | -53.78 | 202.12 | 2.41 | 2.4 | 91.67 | -0.69 | -21.43 | 16.67 | 116.67 | 214.29 | 14.54 | 7.7 | 4.45 |
| 23Q2 (18) | 25.74 | -8.63 | -3.96 | 2.41 | 322.81 | -61.13 | 2.61 | 44.2 | -61.84 | 0.97 | 4.3 | -79.79 | 0.40 | 33.33 | -85.02 | 0.29 | 3.57 | -70.41 | 0.14 | 27.27 | -26.32 | 7.34 | -6.97 | -23.06 | 197.36 | 5.43 | -1.49 | 92.31 | 223.08 | 1.31 | 7.69 | -89.23 | -23.08 | 13.50 | -23.94 | 14.02 |
| 23Q1 (17) | 28.17 | 5.74 | 9.74 | 0.57 | -90.07 | -88.48 | 1.81 | -62.68 | -66.85 | 0.93 | -72.73 | -71.21 | 0.30 | -81.82 | -79.59 | 0.28 | -61.64 | -50.88 | 0.11 | -35.29 | -26.67 | 7.89 | -6.63 | -9.31 | 187.19 | 0.87 | -4.45 | 28.57 | -76.05 | -68.13 | 71.43 | 470.13 | 728.57 | 17.75 | 58.62 | 29.37 |
| 22Q4 (16) | 26.64 | -4.31 | 8.47 | 5.74 | 7.29 | 19.83 | 4.85 | 4.53 | 19.16 | 3.41 | 10.71 | 196.52 | 1.65 | 24.06 | 194.64 | 0.73 | 30.36 | 180.77 | 0.17 | 13.33 | 0.0 | 8.45 | 1.44 | 17.85 | 185.57 | -5.98 | -3.01 | 119.30 | 2.26 | 1.29 | -19.30 | -32.33 | -8.55 | 11.19 | -19.61 | -13.52 |
| 22Q3 (15) | 27.84 | 3.88 | 12.85 | 5.35 | -13.71 | -5.98 | 4.64 | -32.16 | -24.92 | 3.08 | -35.83 | -15.15 | 1.33 | -50.19 | -25.28 | 0.56 | -42.86 | -20.0 | 0.15 | -21.05 | -16.67 | 8.33 | -12.68 | -8.66 | 197.38 | -1.48 | 8.0 | 116.67 | 28.05 | 26.08 | -14.58 | -245.83 | -295.42 | 13.92 | 17.57 | 3.73 |
| 22Q2 (14) | 26.80 | 4.4 | 14.43 | 6.20 | 25.25 | 38.7 | 6.84 | 25.27 | 25.27 | 4.80 | 48.61 | 62.71 | 2.67 | 81.63 | 68.99 | 0.98 | 71.93 | 55.56 | 0.19 | 26.67 | 0.0 | 9.54 | 9.66 | 15.64 | 200.35 | 2.27 | 13.93 | 91.11 | 1.62 | 10.02 | 10.00 | 16.0 | -46.67 | 11.84 | -13.7 | 10.97 |
| 22Q1 (13) | 25.67 | 4.52 | 3.22 | 4.95 | 3.34 | 27.91 | 5.46 | 34.15 | 16.67 | 3.23 | 180.87 | 48.17 | 1.47 | 162.5 | 51.55 | 0.57 | 119.23 | 46.15 | 0.15 | -11.76 | -6.25 | 8.70 | 21.34 | 9.16 | 195.90 | 2.39 | 8.47 | 89.66 | -23.88 | 9.04 | 8.62 | 148.49 | -51.51 | 13.72 | 6.03 | 2.93 |
| 21Q4 (12) | 24.56 | -0.45 | 0.24 | 4.79 | -15.82 | 111.95 | 4.07 | -34.14 | -9.56 | 1.15 | -68.32 | -47.73 | 0.56 | -68.54 | -42.86 | 0.26 | -62.86 | -43.48 | 0.17 | -5.56 | 6.25 | 7.17 | -21.38 | -5.53 | 191.33 | 4.69 | 7.25 | 117.78 | 27.28 | 141.16 | -17.78 | -338.22 | -136.4 | 12.94 | -3.58 | -14.92 |
| 21Q3 (11) | 24.67 | 5.34 | -4.34 | 5.69 | 27.29 | -21.19 | 6.18 | 13.19 | -25.27 | 3.63 | 23.05 | -32.4 | 1.78 | 12.66 | -29.08 | 0.70 | 11.11 | -31.37 | 0.18 | -5.26 | 5.88 | 9.12 | 10.55 | -25.85 | 182.76 | 3.92 | 8.06 | 92.54 | 11.74 | 5.95 | 7.46 | -60.2 | -41.04 | 13.42 | 25.77 | 11.83 |
| 21Q2 (10) | 23.42 | -5.83 | 16.81 | 4.47 | 15.5 | 341.62 | 5.46 | 16.67 | 875.0 | 2.95 | 35.32 | 451.19 | 1.58 | 62.89 | 707.69 | 0.63 | 61.54 | 6400.0 | 0.19 | 18.75 | 58.33 | 8.25 | 3.51 | 34.8 | 175.86 | -2.62 | 5.86 | 82.81 | 0.72 | 120.7 | 18.75 | 5.47 | -96.25 | 10.67 | -19.95 | 0 |
| 21Q1 (9) | 24.87 | 1.51 | 66.13 | 3.87 | 71.24 | 120.65 | 4.68 | 4.0 | 127.05 | 2.18 | -0.91 | 115.46 | 0.97 | -1.02 | 126.94 | 0.39 | -15.22 | 130.23 | 0.16 | 0.0 | 60.0 | 7.97 | 5.01 | 174.56 | 180.60 | 1.24 | 11.61 | 82.22 | 68.36 | -24.36 | 17.78 | -63.6 | 304.44 | 13.33 | -12.36 | -38.49 |
| 20Q4 (8) | 24.50 | -5.0 | -2.58 | 2.26 | -68.7 | 2.73 | 4.50 | -45.59 | 60.71 | 2.20 | -59.03 | 136.56 | 0.98 | -60.96 | 139.02 | 0.46 | -54.9 | 109.09 | 0.16 | -5.88 | -5.88 | 7.59 | -38.29 | 23.41 | 178.39 | 5.48 | 14.25 | 48.84 | -44.08 | -39.53 | 48.84 | 285.81 | 111.63 | 15.21 | 26.75 | 17.63 |
| 20Q3 (7) | 25.79 | 28.63 | 12.47 | 7.22 | 490.27 | 271.9 | 8.27 | 1376.79 | 446.03 | 5.37 | 739.29 | 310.59 | 2.51 | 1065.38 | 391.86 | 1.02 | 10300.0 | 563.64 | 0.17 | 41.67 | 30.77 | 12.30 | 100.98 | 511.94 | 169.13 | 1.81 | 11.59 | 87.34 | 121.84 | -49.29 | 12.66 | -97.47 | 117.53 | 12.00 | 0 | -24.95 |
| 20Q2 (6) | 20.05 | 33.93 | -16.21 | -1.85 | 90.13 | -54.17 | 0.56 | 103.24 | 5.66 | -0.84 | 94.04 | -1580.0 | -0.26 | 92.78 | -1200.0 | -0.01 | 99.22 | -109.09 | 0.12 | 20.0 | -20.0 | 6.12 | 157.25 | 35.1 | 166.13 | 2.66 | 11.91 | -400.00 | -468.0 | -60.0 | 500.00 | 5850.0 | 42.86 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 14.97 | -40.48 | -44.78 | -18.74 | -951.82 | -702.57 | -17.30 | -717.86 | -607.33 | -14.10 | -1616.13 | -815.74 | -3.60 | -978.05 | -614.29 | -1.29 | -686.36 | -422.5 | 0.10 | -41.18 | -33.33 | -10.69 | -273.82 | -245.64 | 161.82 | 3.64 | 22.47 | 108.70 | 34.58 | 17.39 | -8.70 | -137.68 | -217.39 | 21.67 | 67.59 | 43.23 |
| 19Q4 (4) | 25.15 | 9.68 | 0.0 | 2.20 | 152.38 | 0.0 | 2.80 | 217.15 | 0.0 | 0.93 | 136.47 | 0.0 | 0.41 | 147.67 | 0.0 | 0.22 | 200.0 | 0.0 | 0.17 | 30.77 | 0.0 | 6.15 | 205.97 | 0.0 | 156.14 | 3.02 | 0.0 | 80.77 | -53.1 | 0.0 | 23.08 | 131.95 | 0.0 | 12.93 | -19.14 | 0.0 |
| 19Q3 (3) | 22.93 | -4.18 | 0.0 | -4.20 | -250.0 | 0.0 | -2.39 | -550.94 | 0.0 | -2.55 | -5000.0 | 0.0 | -0.86 | -4200.0 | 0.0 | -0.22 | -300.0 | 0.0 | 0.13 | -13.33 | 0.0 | 2.01 | -55.63 | 0.0 | 151.57 | 2.1 | 0.0 | 172.22 | 168.89 | 0.0 | -72.22 | -120.63 | 0.0 | 15.99 | 4.24 | 0.0 |
| 19Q2 (2) | 23.93 | -11.73 | 0.0 | -1.20 | -138.59 | 0.0 | 0.53 | -84.46 | 0.0 | -0.05 | -102.54 | 0.0 | -0.02 | -102.86 | 0.0 | 0.11 | -72.5 | 0.0 | 0.15 | 0.0 | 0.0 | 4.53 | -38.28 | 0.0 | 148.45 | 12.35 | 0.0 | -250.00 | -370.0 | 0.0 | 350.00 | 4625.0 | 0.0 | 15.34 | 1.39 | 0.0 |
| 19Q1 (1) | 27.11 | 0.0 | 0.0 | 3.11 | 0.0 | 0.0 | 3.41 | 0.0 | 0.0 | 1.97 | 0.0 | 0.0 | 0.70 | 0.0 | 0.0 | 0.40 | 0.0 | 0.0 | 0.15 | 0.0 | 0.0 | 7.34 | 0.0 | 0.0 | 132.13 | 0.0 | 0.0 | 92.59 | 0.0 | 0.0 | 7.41 | 0.0 | 0.0 | 15.13 | 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) | 26.23 | -1.87 | 0.99 | -82.32 | 3.24 | 49.09 | 1.50 | -72.78 | 0.60 | -83.74 | 0.97 | -86.51 | 0.97 | -67.01 | 0.54 | -20.59 | 6.50 | -25.88 | 205.89 | 10.95 | 65.52 | -35.5 | 34.48 | 0 | 0.97 | -1.08 | 14.57 | 15.82 |
| 2022 (9) | 26.73 | 9.77 | 5.60 | 18.64 | 2.17 | -6.92 | 5.51 | 7.83 | 3.69 | 48.19 | 7.19 | 48.25 | 2.94 | 52.33 | 0.68 | 0.0 | 8.77 | 7.87 | 185.57 | -3.01 | 101.57 | 10.04 | -1.57 | 0 | 0.99 | -16.29 | 12.58 | 0.4 |
| 2021 (8) | 24.35 | 9.0 | 4.72 | 0 | 2.33 | -31.29 | 5.11 | 373.15 | 2.49 | 0 | 4.85 | 0 | 1.93 | 819.05 | 0.68 | 28.3 | 8.13 | 45.7 | 191.33 | 7.25 | 92.31 | 0 | 7.69 | -95.3 | 1.18 | 69.52 | 12.53 | -14.3 |
| 2020 (7) | 22.34 | -10.03 | -0.68 | 0 | 3.40 | 14.68 | 1.08 | -11.48 | -0.26 | 0 | -0.37 | 0 | 0.21 | -58.82 | 0.53 | -13.11 | 5.58 | 8.56 | 178.39 | 14.25 | -63.64 | 0 | 163.64 | 81.82 | 0.69 | 12.2 | 14.62 | -0.88 |
| 2019 (6) | 24.83 | -10.97 | 0.14 | -96.87 | 2.96 | 29.93 | 1.22 | -81.35 | 0.16 | -95.38 | 0.24 | -95.58 | 0.51 | -81.04 | 0.61 | -11.59 | 5.14 | -45.49 | 156.14 | 15.56 | 12.50 | -81.69 | 90.00 | 183.75 | 0.62 | 81.39 | 14.75 | 5.06 |
| 2018 (5) | 27.89 | 0.8 | 4.47 | -33.38 | 2.28 | -4.66 | 6.54 | -24.04 | 3.46 | -39.51 | 5.43 | -42.72 | 2.69 | -40.35 | 0.69 | -6.76 | 9.43 | -18.28 | 135.12 | 14.41 | 68.28 | -12.17 | 31.72 | 44.71 | 0.34 | 0 | 14.04 | 3.31 |
| 2017 (4) | 27.67 | 14.06 | 6.71 | 158.08 | 2.39 | -20.03 | 8.61 | 51.05 | 5.72 | 31.19 | 9.48 | 45.85 | 4.51 | 38.77 | 0.74 | 12.12 | 11.54 | 22.51 | 118.10 | -9.32 | 77.74 | 70.19 | 21.92 | -59.65 | 0.00 | 0 | 13.59 | -12.72 |
| 2016 (3) | 24.26 | -0.16 | 2.60 | 84.4 | 2.99 | -11.97 | 5.70 | 223.86 | 4.36 | 211.43 | 6.50 | 220.2 | 3.25 | 150.0 | 0.66 | 1.54 | 9.42 | 57.79 | 130.24 | 9.68 | 45.68 | -42.61 | 54.32 | 166.17 | 0.00 | 0 | 15.57 | 1.37 |
| 2015 (2) | 24.30 | -1.38 | 1.41 | -42.45 | 3.40 | -1.73 | 1.76 | -63.93 | 1.40 | -53.95 | 2.03 | -57.53 | 1.30 | -48.21 | 0.65 | -4.41 | 5.97 | -35.32 | 118.75 | -8.44 | 79.59 | 58.09 | 20.41 | -58.9 | 0.00 | 0 | 15.36 | 4.85 |
| 2014 (1) | 24.64 | 0 | 2.45 | 0 | 3.46 | -9.08 | 4.88 | 0 | 3.04 | 0 | 4.78 | 0 | 2.51 | 0 | 0.68 | 7.94 | 9.23 | 23.89 | 129.70 | -2.02 | 50.34 | 604.83 | 49.66 | -46.53 | 0.00 | 0 | 14.65 | -1.35 |
