- 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) | 43.96 | -1.3 | -11.12 | 5.17 | -48.81 | -50.53 | 1.63 | -90.16 | -78.27 | 1.72 | -87.6 | -80.21 | 0.31 | -88.73 | -76.69 | 0.25 | -88.89 | -77.06 | 0.14 | -12.5 | 7.69 | 9.18 | -59.67 | -40.08 | 26.27 | 19.95 | 29.09 | 325.00 | 433.93 | 134.0 | -225.00 | -675.0 | -478.57 | 25.29 | 13.77 | -0.47 |
| 23Q3 (19) | 44.54 | -5.25 | -14.15 | 10.10 | -13.53 | -41.62 | 16.56 | 2.86 | -38.73 | 13.87 | 3.43 | -38.84 | 2.75 | -5.5 | -38.75 | 2.25 | 0.45 | -35.71 | 0.16 | -5.88 | 6.67 | 22.76 | 5.27 | -29.99 | 21.90 | -0.9 | -8.86 | 60.87 | -16.19 | -4.93 | 39.13 | 42.98 | 8.77 | 22.23 | 4.96 | 10.43 |
| 23Q2 (18) | 47.01 | -2.25 | -11.7 | 11.68 | 933.63 | -60.71 | 16.10 | 236.12 | -53.33 | 13.41 | 233.58 | -53.69 | 2.91 | 470.59 | -67.23 | 2.24 | 460.0 | -62.67 | 0.17 | 70.0 | -19.05 | 21.62 | 58.5 | -43.14 | 22.10 | -41.63 | -32.25 | 72.63 | 226.84 | -15.73 | 27.37 | -64.81 | 98.1 | 21.18 | -29.54 | 28.05 |
| 23Q1 (17) | 48.09 | -2.77 | -9.57 | 1.13 | -89.19 | -96.19 | 4.79 | -36.13 | -86.29 | 4.02 | -53.74 | -86.3 | 0.51 | -61.65 | -94.74 | 0.40 | -63.3 | -94.05 | 0.10 | -23.08 | -56.52 | 13.64 | -10.97 | -63.89 | 37.86 | 86.04 | -41.31 | 22.22 | -84.0 | -73.82 | 77.78 | 300.0 | 414.53 | 30.06 | 18.3 | 76.62 |
| 22Q4 (16) | 49.46 | -4.66 | -8.25 | 10.45 | -39.6 | -64.87 | 7.50 | -72.25 | -76.07 | 8.69 | -61.68 | -66.77 | 1.33 | -70.38 | -83.48 | 1.09 | -68.86 | -82.86 | 0.13 | -13.33 | -45.83 | 15.32 | -52.88 | -54.28 | 20.35 | -15.31 | -25.4 | 138.89 | 116.93 | 46.3 | -38.89 | -208.1 | -867.41 | 25.41 | 26.23 | 74.64 |
| 22Q3 (15) | 51.88 | -2.55 | -4.51 | 17.30 | -41.81 | -45.41 | 27.03 | -21.65 | -16.21 | 22.68 | -21.69 | -15.75 | 4.49 | -49.44 | -47.24 | 3.50 | -41.67 | -48.38 | 0.15 | -28.57 | -40.0 | 32.51 | -14.49 | -5.44 | 24.03 | -26.33 | -7.61 | 64.02 | -25.71 | -34.84 | 35.98 | 160.39 | 1972.2 | 20.13 | 21.7 | 32.43 |
| 22Q2 (14) | 53.24 | 0.11 | 0.09 | 29.73 | 0.13 | -6.13 | 34.50 | -1.26 | 12.89 | 28.96 | -1.3 | 11.94 | 8.88 | -8.45 | 11.28 | 6.00 | -10.71 | -2.91 | 0.21 | -8.7 | -12.5 | 38.02 | 0.66 | 16.98 | 32.62 | -49.43 | 29.75 | 86.18 | 1.53 | -16.87 | 13.82 | -8.6 | 476.1 | 16.54 | -2.82 | -1.43 |
| 22Q1 (13) | 53.18 | -1.35 | 3.46 | 29.69 | -0.2 | 2.03 | 34.94 | 11.49 | 19.82 | 29.34 | 12.2 | 15.1 | 9.70 | 20.5 | 34.16 | 6.72 | 5.66 | 16.06 | 0.23 | -4.17 | 0.0 | 37.77 | 12.71 | 21.72 | 64.51 | 136.47 | 90.75 | 84.88 | -10.59 | -15.12 | 15.12 | 198.29 | 0 | 17.02 | 16.98 | -2.85 |
| 21Q4 (12) | 53.91 | -0.77 | 14.24 | 29.75 | -6.12 | 47.64 | 31.34 | -2.85 | 79.91 | 26.15 | -2.86 | 70.8 | 8.05 | -5.41 | 69.12 | 6.36 | -6.19 | 64.34 | 0.24 | -4.0 | -4.0 | 33.51 | -2.53 | 66.63 | 27.28 | 4.88 | 68.5 | 94.93 | -3.39 | -18.01 | 5.07 | 191.89 | 132.09 | 14.55 | -4.28 | -21.27 |
| 21Q3 (11) | 54.33 | 2.14 | 12.25 | 31.69 | 0.06 | 58.05 | 32.26 | 5.56 | 80.22 | 26.92 | 4.06 | 68.46 | 8.51 | 6.64 | -5.76 | 6.78 | 9.71 | 18.53 | 0.25 | 4.17 | -30.56 | 34.38 | 5.78 | 69.78 | 26.01 | 3.46 | -39.51 | 98.26 | -5.22 | -12.77 | 1.74 | 147.26 | 113.73 | 15.20 | -9.42 | -20.96 |
| 21Q2 (10) | 53.19 | 3.48 | 5.96 | 31.67 | 8.83 | 63.0 | 30.56 | 4.8 | 73.14 | 25.87 | 1.49 | 58.61 | 7.98 | 10.37 | -14.38 | 6.18 | 6.74 | 3.69 | 0.24 | 4.35 | -35.14 | 32.50 | 4.74 | 65.48 | 25.14 | -25.67 | -66.08 | 103.67 | 3.67 | -5.85 | -3.67 | 0 | 63.67 | 16.78 | -4.22 | -15.97 |
| 21Q1 (9) | 51.40 | 8.92 | 3.65 | 29.10 | 44.42 | 57.3 | 29.16 | 67.39 | 45.8 | 25.49 | 66.49 | 47.09 | 7.23 | 51.89 | -12.36 | 5.79 | 49.61 | 0.17 | 0.23 | -8.0 | -30.3 | 31.03 | 54.3 | 41.95 | 33.82 | 108.89 | -17.53 | 100.00 | -13.64 | 8.86 | 0.00 | 100.0 | -100.0 | 17.52 | -5.19 | -25.32 |
| 20Q4 (8) | 47.19 | -2.5 | -5.58 | 20.15 | 0.5 | -1.9 | 17.42 | -2.68 | -2.84 | 15.31 | -4.19 | 6.69 | 4.76 | -47.29 | -36.62 | 3.87 | -32.34 | -20.7 | 0.25 | -30.56 | -26.47 | 20.11 | -0.69 | 2.18 | 16.19 | -62.35 | -63.69 | 115.79 | 2.79 | 0.35 | -15.79 | -24.88 | -11.96 | 18.48 | -3.9 | -5.95 |
| 20Q3 (7) | 48.40 | -3.59 | -5.84 | 20.05 | 3.19 | 8.2 | 17.90 | 1.42 | -6.72 | 15.98 | -2.02 | -2.32 | 9.03 | -3.11 | -7.48 | 5.72 | -4.03 | -3.87 | 0.36 | -2.7 | 0.0 | 20.25 | 3.11 | -1.32 | 43.00 | -41.99 | -33.26 | 112.64 | 2.3 | 16.62 | -12.64 | -25.03 | -470.88 | 19.23 | -3.71 | -3.51 |
| 20Q2 (6) | 50.20 | 1.23 | -3.91 | 19.43 | 5.03 | 15.86 | 17.65 | -11.75 | -4.75 | 16.31 | -5.89 | -4.28 | 9.32 | 12.97 | 11.35 | 5.96 | 3.11 | 9.96 | 0.37 | 12.12 | 15.62 | 19.64 | -10.16 | -2.87 | 74.12 | 80.74 | 15.56 | 110.11 | 19.87 | 22.75 | -10.11 | -244.94 | -214.61 | 19.97 | -14.88 | -26.17 |
| 20Q1 (5) | 49.59 | -0.78 | -8.91 | 18.50 | -9.93 | 36.03 | 20.00 | 11.54 | 34.5 | 17.33 | 20.77 | 31.49 | 8.25 | 9.85 | 42.24 | 5.78 | 18.44 | 42.72 | 0.33 | -2.94 | 6.45 | 21.86 | 11.08 | 29.2 | 41.01 | -8.03 | -9.99 | 91.86 | -20.39 | 0.21 | 6.98 | 149.47 | -16.28 | 23.46 | 19.39 | -9.94 |
| 19Q4 (4) | 49.98 | -2.76 | 0.0 | 20.54 | 10.85 | 0.0 | 17.93 | -6.57 | 0.0 | 14.35 | -12.29 | 0.0 | 7.51 | -23.05 | 0.0 | 4.88 | -17.98 | 0.0 | 0.34 | -5.56 | 0.0 | 19.68 | -4.09 | 0.0 | 44.59 | -30.79 | 0.0 | 115.38 | 19.46 | 0.0 | -14.10 | -513.68 | 0.0 | 19.65 | -1.4 | 0.0 |
| 19Q3 (3) | 51.40 | -1.61 | 0.0 | 18.53 | 10.49 | 0.0 | 19.19 | 3.56 | 0.0 | 16.36 | -3.99 | 0.0 | 9.76 | 16.61 | 0.0 | 5.95 | 9.78 | 0.0 | 0.36 | 12.5 | 0.0 | 20.52 | 1.48 | 0.0 | 64.43 | 0.45 | 0.0 | 96.59 | 7.68 | 0.0 | 3.41 | -61.36 | 0.0 | 19.93 | -26.32 | 0.0 |
| 19Q2 (2) | 52.24 | -4.04 | 0.0 | 16.77 | 23.31 | 0.0 | 18.53 | 24.61 | 0.0 | 17.04 | 29.29 | 0.0 | 8.37 | 44.31 | 0.0 | 5.42 | 33.83 | 0.0 | 0.32 | 3.23 | 0.0 | 20.22 | 19.5 | 0.0 | 64.14 | 40.78 | 0.0 | 89.71 | -2.14 | 0.0 | 8.82 | 5.88 | 0.0 | 27.05 | 3.84 | 0.0 |
| 19Q1 (1) | 54.44 | 0.0 | 0.0 | 13.60 | 0.0 | 0.0 | 14.87 | 0.0 | 0.0 | 13.18 | 0.0 | 0.0 | 5.80 | 0.0 | 0.0 | 4.05 | 0.0 | 0.0 | 0.31 | 0.0 | 0.0 | 16.92 | 0.0 | 0.0 | 45.56 | 0.0 | 0.0 | 91.67 | 0.0 | 0.0 | 8.33 | 0.0 | 0.0 | 26.05 | 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) | 45.76 | -12.54 | 7.67 | -68.05 | 4.03 | 75.1 | 10.51 | -63.38 | 8.87 | -63.78 | 5.98 | -73.62 | 4.86 | -73.47 | 0.55 | -26.67 | 17.40 | -47.43 | 26.27 | 29.09 | 72.90 | -12.93 | 27.10 | 66.54 | 3.55 | 195.47 | 24.14 | 27.79 |
| 2022 (9) | 52.32 | -1.86 | 24.01 | -21.48 | 2.30 | 84.48 | 28.70 | -7.21 | 24.49 | -6.31 | 22.67 | -25.08 | 18.32 | -25.98 | 0.75 | -21.05 | 33.10 | 0.3 | 20.35 | -25.4 | 83.73 | -15.38 | 16.27 | 1311.73 | 1.20 | 8.82 | 18.89 | 18.81 |
| 2021 (8) | 53.31 | 9.29 | 30.58 | 56.18 | 1.25 | -5.49 | 30.93 | 70.32 | 26.14 | 61.66 | 30.26 | 65.54 | 24.75 | 66.78 | 0.95 | 3.26 | 33.00 | 61.29 | 27.28 | 68.5 | 98.94 | -8.23 | 1.15 | 0 | 1.10 | -20.04 | 15.90 | -21.01 |
| 2020 (7) | 48.78 | -5.88 | 19.58 | 10.81 | 1.32 | 10.17 | 18.16 | 1.97 | 16.17 | 5.62 | 18.28 | -40.38 | 14.84 | -30.82 | 0.92 | -34.29 | 20.46 | 5.36 | 16.19 | -63.69 | 107.82 | 8.59 | -7.82 | 0 | 1.38 | 73.05 | 20.13 | -11.52 |
| 2019 (6) | 51.83 | 5.65 | 17.67 | 67.33 | 1.20 | 80.0 | 17.81 | 72.74 | 15.31 | 48.5 | 30.66 | 62.05 | 21.45 | 67.06 | 1.40 | 12.0 | 19.42 | 70.35 | 44.59 | 7.84 | 99.29 | -3.05 | 0.71 | 0 | 0.80 | 0 | 22.75 | -11.58 |
| 2018 (5) | 49.06 | 2.4 | 10.56 | -5.8 | 0.67 | -1.33 | 10.31 | 29.52 | 10.31 | 27.44 | 18.92 | -7.21 | 12.84 | 1.58 | 1.25 | -19.87 | 11.40 | 28.81 | 41.35 | -24.24 | 102.42 | -27.61 | -2.42 | 0 | 0.00 | 0 | 25.73 | 13.9 |
| 2017 (4) | 47.91 | -8.66 | 11.21 | 156.52 | 0.67 | -30.27 | 7.96 | 975.68 | 8.09 | 1738.64 | 20.39 | 1860.58 | 12.64 | 2079.31 | 1.56 | 17.29 | 8.85 | 358.55 | 54.58 | -25.12 | 141.49 | -76.42 | -41.49 | 0 | 0.00 | 0 | 22.59 | -8.58 |
| 2016 (3) | 52.45 | 0 | 4.37 | 0 | 0.97 | 0 | 0.74 | 0 | 0.44 | 0 | 1.04 | 0 | 0.58 | 0 | 1.33 | 0 | 1.93 | 0 | 72.89 | -11.79 | 600.00 | 0 | -500.00 | 0 | 0.00 | 0 | 24.71 | 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 | 82.63 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 |
