- 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) | 63.86 | -10.04 | -3.21 | 17.64 | -53.05 | -6.42 | 10.62 | -77.49 | 11.32 | 9.43 | -75.64 | 7.65 | 1.18 | -84.35 | 5.36 | 1.03 | -84.27 | 6.19 | 0.11 | -35.29 | 0.0 | 19.38 | -63.27 | 17.03 | 15.99 | 1.4 | 2.17 | 164.71 | 107.75 | -17.65 | -64.71 | -412.28 | 35.29 | 26.55 | 21.84 | -21.87 |
| 23Q3 (19) | 70.99 | 10.18 | -1.24 | 37.57 | 115.42 | -7.53 | 47.18 | 59.34 | -9.32 | 38.71 | 61.16 | -9.07 | 7.54 | 123.08 | -4.68 | 6.55 | 144.4 | 2.5 | 0.17 | 54.55 | 13.33 | 52.77 | 38.07 | -6.9 | 15.77 | 6.92 | 2.6 | 79.28 | 38.0 | 1.8 | 20.72 | -48.74 | -6.34 | 21.79 | -24.6 | 3.76 |
| 23Q2 (18) | 64.43 | -5.49 | -6.93 | 17.44 | -46.88 | -41.92 | 29.61 | -10.81 | -31.74 | 24.02 | -12.01 | -36.52 | 3.38 | -26.36 | -37.29 | 2.68 | -26.17 | -38.53 | 0.11 | -15.38 | -8.33 | 38.22 | -3.97 | -22.65 | 14.75 | -62.19 | -55.94 | 57.45 | -41.66 | -16.65 | 40.43 | 2527.66 | 30.06 | 28.90 | 14.0 | 20.82 |
| 23Q1 (17) | 68.17 | 3.32 | -3.61 | 32.83 | 74.16 | -17.2 | 33.20 | 248.01 | -32.31 | 27.30 | 211.64 | -34.98 | 4.59 | 309.82 | -32.7 | 3.63 | 274.23 | -38.47 | 0.13 | 18.18 | -7.14 | 39.80 | 140.34 | -26.3 | 39.01 | 149.27 | 154.8 | 98.46 | -50.77 | 22.14 | 1.54 | 101.54 | -92.06 | 25.35 | -25.4 | 23.54 |
| 22Q4 (16) | 65.98 | -8.21 | 2.42 | 18.85 | -53.61 | -31.6 | 9.54 | -81.66 | -25.47 | 8.76 | -79.42 | -27.06 | 1.12 | -85.84 | -30.0 | 0.97 | -84.82 | -30.22 | 0.11 | -26.67 | -8.33 | 16.56 | -70.78 | -13.79 | 15.65 | 1.82 | -3.34 | 200.00 | 156.82 | -9.52 | -100.00 | -552.0 | 13.64 | 33.98 | 61.81 | 24.56 |
| 22Q3 (15) | 71.88 | 3.83 | 6.66 | 40.63 | 35.3 | -7.55 | 52.03 | 19.94 | 16.95 | 42.57 | 12.5 | 11.7 | 7.91 | 46.75 | 10.78 | 6.39 | 46.56 | 7.76 | 0.15 | 25.0 | -6.25 | 56.68 | 14.71 | 15.72 | 15.37 | -54.09 | 1.72 | 77.88 | 13.0 | -21.22 | 22.12 | -28.82 | 1824.78 | 21.00 | -12.21 | 0.57 |
| 22Q2 (14) | 69.23 | -2.11 | 5.29 | 30.03 | -24.26 | 1.87 | 43.38 | -11.56 | -55.11 | 37.84 | -9.88 | -46.66 | 5.39 | -20.97 | -42.29 | 4.36 | -26.1 | -42.63 | 0.12 | -14.29 | 9.09 | 49.41 | -8.5 | -52.71 | 33.48 | 118.68 | 26.1 | 68.92 | -14.51 | 123.99 | 31.08 | 60.31 | -55.11 | 23.92 | 16.57 | -26.35 |
| 22Q1 (13) | 70.72 | 9.78 | 3.71 | 39.65 | 43.87 | 13.09 | 49.05 | 283.2 | 29.39 | 41.99 | 249.63 | 31.05 | 6.82 | 326.25 | 14.81 | 5.90 | 324.46 | 18.47 | 0.14 | 16.67 | -6.67 | 54.00 | 181.1 | 20.56 | 15.31 | -5.44 | -22.4 | 80.61 | -63.53 | -12.32 | 19.39 | 116.74 | 140.41 | 20.52 | -24.78 | -24.7 |
| 21Q4 (12) | 64.42 | -4.41 | -1.68 | 27.56 | -37.29 | 37.8 | 12.80 | -71.23 | -17.37 | 12.01 | -68.49 | 2.56 | 1.60 | -77.59 | -28.57 | 1.39 | -76.56 | -27.23 | 0.12 | -25.0 | -25.0 | 19.21 | -60.78 | -14.47 | 16.19 | 7.15 | -17.44 | 221.05 | 123.62 | 65.79 | -115.79 | -10173.68 | -305.26 | 27.28 | 30.65 | -16.52 |
| 21Q3 (11) | 67.39 | 2.49 | -5.24 | 43.95 | 49.08 | 7.69 | 44.49 | -53.96 | 14.25 | 38.11 | -46.28 | 13.25 | 7.14 | -23.55 | -22.81 | 5.93 | -21.97 | -21.25 | 0.16 | 45.45 | -27.27 | 48.98 | -53.12 | 9.04 | 15.11 | -43.09 | -11.69 | 98.85 | 221.26 | -6.28 | 1.15 | -98.34 | 120.98 | 20.88 | -35.71 | -19.51 |
| 21Q2 (10) | 65.75 | -3.58 | 1.05 | 29.48 | -15.92 | 2.61 | 96.63 | 154.89 | 249.22 | 70.94 | 121.41 | 153.0 | 9.34 | 57.24 | 88.69 | 7.60 | 52.61 | 86.73 | 0.11 | -26.67 | -21.43 | 104.48 | 133.27 | 180.94 | 26.55 | 34.57 | -11.2 | 30.77 | -66.53 | -70.99 | 69.23 | 758.46 | 2384.62 | 32.48 | 19.19 | 9.54 |
| 21Q1 (9) | 68.19 | 4.08 | 13.54 | 35.06 | 75.3 | 186.2 | 37.91 | 144.74 | 148.26 | 32.04 | 173.61 | 170.15 | 5.94 | 165.18 | 275.95 | 4.98 | 160.73 | 263.5 | 0.15 | -6.25 | 36.36 | 44.79 | 99.42 | 63.65 | 19.73 | 0.61 | 26.88 | 91.94 | -31.05 | 7.26 | 8.06 | 128.23 | -62.37 | 27.25 | -16.62 | -24.95 |
| 20Q4 (8) | 65.52 | -7.87 | 7.01 | 20.00 | -50.99 | 34.23 | 15.49 | -60.22 | 35.64 | 11.71 | -65.2 | 4.27 | 2.24 | -75.78 | 29.48 | 1.91 | -74.63 | 31.72 | 0.16 | -27.27 | 23.08 | 22.46 | -50.0 | 1.08 | 19.61 | 14.61 | -1.41 | 133.33 | 26.41 | 0.0 | -28.57 | -421.43 | 14.29 | 32.68 | 25.98 | 3.88 |
| 20Q3 (7) | 71.12 | 9.3 | -0.82 | 40.81 | 42.05 | 1.62 | 38.94 | 40.73 | -6.42 | 33.65 | 20.01 | -5.74 | 9.25 | 86.87 | 5.96 | 7.53 | 85.01 | 7.57 | 0.22 | 57.14 | 15.79 | 44.92 | 20.79 | -6.12 | 17.11 | -42.78 | -32.18 | 105.48 | -0.55 | 10.35 | -5.48 | -80.82 | -286.3 | 25.94 | -12.51 | 8.22 |
| 20Q2 (6) | 65.07 | 8.34 | 4.2 | 28.73 | 134.53 | 119.65 | 27.67 | 81.2 | 75.02 | 28.04 | 136.42 | 101.73 | 4.95 | 213.29 | 100.4 | 4.07 | 197.08 | 110.88 | 0.14 | 27.27 | 7.69 | 37.19 | 35.88 | 31.51 | 29.90 | 92.28 | 14.38 | 106.06 | 23.74 | 30.54 | -3.03 | -114.14 | -116.16 | 29.65 | -18.34 | -11.86 |
| 20Q1 (5) | 60.06 | -1.91 | -9.58 | 12.25 | -17.79 | -57.29 | 15.27 | 33.71 | -50.05 | 11.86 | 5.61 | -54.47 | 1.58 | -8.67 | -76.45 | 1.37 | -5.52 | -71.52 | 0.11 | -15.38 | -38.89 | 27.37 | 23.18 | -32.72 | 15.55 | -21.82 | -64.32 | 85.71 | -35.71 | -9.24 | 21.43 | 164.29 | 285.71 | 36.31 | 15.42 | 19.28 |
| 19Q4 (4) | 61.23 | -14.61 | 0.0 | 14.90 | -62.9 | 0.0 | 11.42 | -72.55 | 0.0 | 11.23 | -68.54 | 0.0 | 1.73 | -80.18 | 0.0 | 1.45 | -79.29 | 0.0 | 0.13 | -31.58 | 0.0 | 22.22 | -53.56 | 0.0 | 19.89 | -21.17 | 0.0 | 133.33 | 39.49 | 0.0 | -33.33 | -1233.33 | 0.0 | 31.46 | 31.25 | 0.0 |
| 19Q3 (3) | 71.71 | 14.83 | 0.0 | 40.16 | 207.03 | 0.0 | 41.61 | 163.19 | 0.0 | 35.70 | 156.83 | 0.0 | 8.73 | 253.44 | 0.0 | 7.00 | 262.69 | 0.0 | 0.19 | 46.15 | 0.0 | 47.85 | 69.2 | 0.0 | 25.23 | -3.48 | 0.0 | 95.59 | 17.65 | 0.0 | 2.94 | -84.31 | 0.0 | 23.97 | -28.75 | 0.0 |
| 19Q2 (2) | 62.45 | -5.98 | 0.0 | 13.08 | -54.39 | 0.0 | 15.81 | -48.28 | 0.0 | 13.90 | -46.64 | 0.0 | 2.47 | -63.19 | 0.0 | 1.93 | -59.88 | 0.0 | 0.13 | -27.78 | 0.0 | 28.28 | -30.48 | 0.0 | 26.14 | -40.02 | 0.0 | 81.25 | -13.97 | 0.0 | 18.75 | 237.5 | 0.0 | 33.64 | 10.51 | 0.0 |
| 19Q1 (1) | 66.42 | 0.0 | 0.0 | 28.68 | 0.0 | 0.0 | 30.57 | 0.0 | 0.0 | 26.05 | 0.0 | 0.0 | 6.71 | 0.0 | 0.0 | 4.81 | 0.0 | 0.0 | 0.18 | 0.0 | 0.0 | 40.68 | 0.0 | 0.0 | 43.58 | 0.0 | 0.0 | 94.44 | 0.0 | 0.0 | 5.56 | 0.0 | 0.0 | 30.44 | 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) | 67.35 | -3.4 | 27.83 | -16.55 | 6.02 | 24.5 | 32.01 | -20.51 | 26.37 | -22.87 | 15.64 | -25.38 | 13.55 | -25.18 | 0.51 | -3.77 | 39.09 | -14.71 | 15.99 | 2.17 | 87.03 | 5.28 | 12.97 | -25.17 | 0.54 | -13.93 | 25.23 | 3.91 |
| 2022 (9) | 69.72 | 4.76 | 33.35 | -4.28 | 4.84 | -10.83 | 40.27 | -12.95 | 34.19 | -8.34 | 20.96 | -16.56 | 18.11 | -15.49 | 0.53 | -7.02 | 45.83 | -12.54 | 15.65 | -3.34 | 82.67 | 9.49 | 17.33 | -30.2 | 0.63 | 331.82 | 24.28 | -8.1 |
| 2021 (8) | 66.55 | 0.23 | 34.84 | 25.32 | 5.43 | -20.66 | 46.26 | 75.89 | 37.30 | 62.32 | 25.12 | 45.03 | 21.43 | 47.18 | 0.57 | -9.52 | 52.40 | 53.22 | 16.19 | -17.44 | 75.50 | -28.52 | 24.83 | 0 | 0.15 | -36.79 | 26.42 | -12.81 |
| 2020 (7) | 66.40 | 0.26 | 27.80 | 5.7 | 6.84 | -12.17 | 26.30 | -2.66 | 22.98 | -2.34 | 17.32 | -13.27 | 14.56 | -8.37 | 0.63 | -4.55 | 34.20 | -6.25 | 19.61 | -1.41 | 105.63 | 8.93 | -5.63 | 0 | 0.23 | -35.02 | 30.30 | 3.95 |
| 2019 (6) | 66.23 | 6.0 | 26.30 | 32.16 | 7.79 | 8.21 | 27.02 | 24.92 | 23.53 | 33.24 | 19.97 | 12.7 | 15.89 | 38.54 | 0.66 | 6.45 | 36.48 | 17.6 | 19.89 | -50.78 | 96.97 | 5.45 | 3.03 | -62.34 | 0.35 | 0 | 29.15 | -9.02 |
| 2018 (5) | 62.48 | 3.55 | 19.90 | -10.56 | 7.20 | 8.57 | 21.63 | 7.83 | 17.66 | 5.56 | 17.72 | 4.67 | 11.47 | 14.36 | 0.62 | 8.77 | 31.02 | 6.56 | 40.41 | -52.86 | 91.95 | -16.41 | 8.05 | 0 | 0.00 | 0 | 32.04 | 8.21 |
| 2017 (4) | 60.34 | -5.14 | 22.25 | -29.19 | 6.63 | 147.45 | 20.06 | -38.2 | 16.73 | -34.9 | 16.93 | -44.47 | 10.03 | -47.24 | 0.57 | -20.83 | 29.11 | -20.49 | 85.72 | 26.49 | 110.00 | 13.11 | -11.43 | 0 | 0.00 | 0 | 29.61 | 20.37 |
| 2016 (3) | 63.61 | 0 | 31.42 | 0 | 2.68 | 0 | 32.46 | 0 | 25.70 | 0 | 30.49 | 0 | 19.01 | 0 | 0.72 | 0 | 36.61 | 0 | 67.77 | 11.89 | 97.25 | 0 | 3.67 | 0 | 0.00 | 0 | 24.60 | 0 |
| 2015 (2) | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 60.57 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 |
