- 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) | 21.67 | -14.28 | 0.65 | 6.15 | -41.65 | 41.06 | 2.48 | -81.68 | 2154.55 | 1.60 | -84.69 | 900.0 | 0.43 | -87.05 | 975.0 | 0.32 | -84.16 | 300.0 | 0.16 | -15.79 | 14.29 | 8.30 | -55.23 | 24.62 | 61.51 | -8.13 | 3.27 | 248.15 | 219.18 | -93.87 | -148.15 | -765.68 | 96.25 | 12.80 | -12.27 | -15.57 |
| 23Q3 (19) | 25.28 | 12.01 | 1.08 | 10.54 | 48.24 | 25.18 | 13.54 | 76.3 | -0.22 | 10.45 | 77.72 | -2.34 | 3.32 | 106.21 | 3.43 | 2.02 | 100.0 | 8.6 | 0.19 | 18.75 | 11.76 | 18.54 | 38.26 | -0.48 | 66.95 | -4.78 | -6.49 | 77.74 | -15.95 | 25.17 | 22.26 | 196.74 | -41.26 | 14.59 | 1.39 | -5.07 |
| 23Q2 (18) | 22.57 | 43.3 | -13.85 | 7.11 | 276.43 | -27.82 | 7.68 | 258.02 | -38.8 | 5.88 | 246.27 | -39.94 | 1.61 | 323.61 | -42.91 | 1.01 | 358.97 | -38.04 | 0.16 | 45.45 | 0.0 | 13.41 | 248.31 | -23.5 | 70.31 | 7.97 | -14.79 | 92.50 | 12.32 | 17.76 | 7.50 | -57.5 | -65.04 | 14.39 | -20.98 | -5.39 |
| 23Q1 (17) | 15.75 | -26.85 | -28.51 | -4.03 | -192.43 | -162.77 | -4.86 | -4518.18 | -140.2 | -4.02 | -2612.5 | -141.92 | -0.72 | -1900.0 | -127.69 | -0.39 | -587.5 | -125.49 | 0.11 | -21.43 | -26.67 | 3.85 | -42.19 | -77.58 | 65.12 | 9.34 | -12.48 | 82.35 | -97.97 | 55.29 | 17.65 | 100.45 | -62.43 | 18.21 | 20.12 | 24.73 |
| 22Q4 (16) | 21.53 | -13.91 | 2.28 | 4.36 | -48.22 | -32.4 | 0.11 | -99.19 | -98.36 | 0.16 | -98.5 | -97.14 | 0.04 | -98.75 | -97.4 | 0.08 | -95.7 | -91.49 | 0.14 | -17.65 | -12.5 | 6.66 | -64.25 | -43.56 | 59.56 | -16.82 | -23.5 | 4050.00 | 6420.5 | 4126.09 | -3950.00 | -10525.41 | -113860.0 | 15.16 | -1.37 | 15.81 |
| 22Q3 (15) | 25.01 | -4.54 | 2.58 | 8.42 | -14.52 | -28.89 | 13.57 | 8.13 | 17.29 | 10.70 | 9.3 | 14.93 | 3.21 | 13.83 | -0.31 | 1.86 | 14.11 | -6.53 | 0.17 | 6.25 | -19.05 | 18.63 | 6.27 | 20.04 | 71.60 | -13.22 | 4.36 | 62.11 | -20.92 | -39.26 | 37.89 | 76.61 | 1783.32 | 15.37 | 1.05 | 28.19 |
| 22Q2 (14) | 26.20 | 18.93 | 6.29 | 9.85 | 53.43 | -14.42 | 12.55 | 3.8 | 19.52 | 9.79 | 2.09 | 17.11 | 2.82 | 8.46 | 11.46 | 1.63 | 6.54 | 0.0 | 0.16 | 6.67 | -15.79 | 17.53 | 2.1 | 18.45 | 82.51 | 10.89 | 39.21 | 78.55 | 48.12 | -28.36 | 21.45 | -54.33 | 322.58 | 15.21 | 4.18 | 22.56 |
| 22Q1 (13) | 22.03 | 4.66 | -4.43 | 6.42 | -0.47 | -35.54 | 12.09 | 80.72 | 12.15 | 9.59 | 71.56 | 19.58 | 2.60 | 68.83 | 13.04 | 1.53 | 62.77 | 0.66 | 0.15 | -6.25 | -21.05 | 17.17 | 45.51 | 12.22 | 74.41 | -4.43 | 34.1 | 53.03 | -44.66 | -42.61 | 46.97 | 1252.73 | 518.43 | 14.60 | 11.54 | 15.23 |
| 21Q4 (12) | 21.05 | -13.66 | -14.54 | 6.45 | -45.52 | -49.33 | 6.69 | -42.18 | -37.83 | 5.59 | -39.96 | -35.89 | 1.54 | -52.17 | -45.58 | 0.94 | -52.76 | -50.26 | 0.16 | -23.81 | -23.81 | 11.80 | -23.97 | -20.32 | 77.86 | 13.48 | 49.21 | 95.83 | -6.28 | -19.05 | 3.47 | 254.27 | 118.88 | 13.09 | 9.17 | 21.43 |
| 21Q3 (11) | 24.38 | -1.1 | -3.37 | 11.84 | 2.87 | -16.09 | 11.57 | 10.19 | -22.04 | 9.31 | 11.36 | -22.35 | 3.22 | 27.27 | -27.64 | 1.99 | 22.09 | -29.43 | 0.21 | 10.53 | -8.7 | 15.52 | 4.86 | -14.68 | 68.61 | 15.76 | 29.28 | 102.25 | -6.74 | 7.68 | -2.25 | 76.65 | -144.68 | 11.99 | -3.38 | 15.4 |
| 21Q2 (10) | 24.65 | 6.94 | 8.45 | 11.51 | 15.56 | 2.49 | 10.50 | -2.6 | 4.17 | 8.36 | 4.24 | 2.08 | 2.53 | 10.0 | 8.58 | 1.63 | 7.24 | 9.4 | 0.19 | 0.0 | 5.56 | 14.80 | -3.27 | 3.86 | 59.27 | 6.81 | -12.35 | 109.64 | 18.65 | -1.75 | -9.64 | -226.91 | 16.87 | 12.41 | -2.05 | 6.16 |
| 21Q1 (9) | 23.05 | -6.41 | 9.4 | 9.96 | -21.76 | 27.04 | 10.78 | 0.19 | 72.2 | 8.02 | -8.03 | 53.93 | 2.30 | -18.73 | 101.75 | 1.52 | -19.58 | 97.4 | 0.19 | -9.52 | 35.71 | 15.30 | 3.31 | 34.21 | 55.49 | 6.34 | 3.7 | 92.41 | -21.95 | -25.93 | 7.59 | 141.3 | 130.68 | 12.67 | 17.53 | 0.08 |
| 20Q4 (8) | 24.63 | -2.38 | -1.08 | 12.73 | -9.78 | -2.3 | 10.76 | -27.49 | 9.02 | 8.72 | -27.27 | 8.59 | 2.83 | -36.4 | 31.63 | 1.89 | -32.98 | 33.1 | 0.21 | -8.7 | 23.53 | 14.81 | -18.58 | 1.79 | 52.18 | -1.68 | -4.59 | 118.39 | 24.67 | -10.39 | -18.39 | -465.06 | 42.75 | 10.78 | 3.75 | 1.7 |
| 20Q3 (7) | 25.23 | 11.0 | -2.89 | 14.11 | 25.65 | 3.67 | 14.84 | 47.22 | 30.98 | 11.99 | 46.4 | 35.48 | 4.45 | 90.99 | 66.67 | 2.82 | 89.26 | 64.91 | 0.23 | 27.78 | 21.05 | 18.19 | 27.65 | 17.35 | 53.07 | -21.52 | -5.79 | 94.96 | -14.9 | -21.08 | 5.04 | 143.45 | 124.79 | 10.39 | -11.12 | -14.2 |
| 20Q2 (6) | 22.73 | 7.88 | -10.86 | 11.23 | 43.24 | -2.85 | 10.08 | 61.02 | -40.25 | 8.19 | 57.2 | -38.83 | 2.33 | 104.39 | -39.01 | 1.49 | 93.51 | -39.68 | 0.18 | 28.57 | 0.0 | 14.25 | 25.0 | -33.16 | 67.62 | 26.37 | 7.73 | 111.59 | -10.55 | 63.21 | -11.59 | 53.16 | -137.0 | 11.69 | -7.66 | -4.96 |
| 20Q1 (5) | 21.07 | -15.38 | 84.34 | 7.84 | -39.83 | 312.47 | 6.26 | -36.58 | 3812.5 | 5.21 | -35.12 | 844.29 | 1.14 | -46.98 | 976.92 | 0.77 | -45.77 | 1640.0 | 0.14 | -17.65 | 16.67 | 11.40 | -21.65 | 61.47 | 53.51 | -2.16 | 7.99 | 124.75 | -5.58 | 104.89 | -24.75 | 22.95 | -100.93 | 12.66 | 19.43 | -5.94 |
| 19Q4 (4) | 24.90 | -4.16 | 0.0 | 13.03 | -4.26 | 0.0 | 9.87 | -12.89 | 0.0 | 8.03 | -9.27 | 0.0 | 2.15 | -19.48 | 0.0 | 1.42 | -16.96 | 0.0 | 0.17 | -10.53 | 0.0 | 14.55 | -6.13 | 0.0 | 54.69 | -2.91 | 0.0 | 132.12 | 9.81 | 0.0 | -32.12 | -58.05 | 0.0 | 10.60 | -12.47 | 0.0 |
| 19Q3 (3) | 25.98 | 1.88 | 0.0 | 13.61 | 17.73 | 0.0 | 11.33 | -32.84 | 0.0 | 8.85 | -33.91 | 0.0 | 2.67 | -30.1 | 0.0 | 1.71 | -30.77 | 0.0 | 0.19 | 5.56 | 0.0 | 15.50 | -27.3 | 0.0 | 56.33 | -10.26 | 0.0 | 120.33 | 75.98 | 0.0 | -20.33 | -164.86 | 0.0 | 12.11 | -1.54 | 0.0 |
| 19Q2 (2) | 25.50 | 123.1 | 0.0 | 11.56 | 413.28 | 0.0 | 16.87 | 10443.75 | 0.0 | 13.39 | 2012.86 | 0.0 | 3.82 | 3038.46 | 0.0 | 2.47 | 5040.0 | 0.0 | 0.18 | 50.0 | 0.0 | 21.32 | 201.98 | 0.0 | 62.77 | 26.68 | 0.0 | 68.38 | 102.68 | 0.0 | 31.34 | -98.82 | 0.0 | 12.30 | -8.62 | 0.0 |
| 19Q1 (1) | 11.43 | 0.0 | 0.0 | -3.69 | 0.0 | 0.0 | 0.16 | 0.0 | 0.0 | -0.70 | 0.0 | 0.0 | -0.13 | 0.0 | 0.0 | -0.05 | 0.0 | 0.0 | 0.12 | 0.0 | 0.0 | 7.06 | 0.0 | 0.0 | 49.55 | 0.0 | 0.0 | -2550.00 | 0.0 | 0.0 | 2650.00 | 0.0 | 0.0 | 13.46 | 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) | 21.98 | -7.8 | 5.98 | -19.52 | 5.35 | 14.07 | 5.92 | -41.15 | 4.43 | -44.14 | 4.48 | -48.33 | 2.99 | -44.11 | 0.63 | -3.08 | 11.95 | -22.45 | 61.51 | 3.27 | 101.24 | 37.02 | -1.04 | 0 | 1.16 | -9.22 | 14.69 | -2.65 |
| 2022 (9) | 23.84 | 1.97 | 7.43 | -26.36 | 4.69 | 17.92 | 10.06 | 0.6 | 7.93 | 0.13 | 8.67 | -9.88 | 5.35 | -10.08 | 0.65 | -10.96 | 15.41 | 6.64 | 59.56 | -23.5 | 73.89 | -26.73 | 26.11 | 0 | 1.28 | 10.9 | 15.09 | 20.62 |
| 2021 (8) | 23.38 | -1.39 | 10.09 | -15.21 | 3.98 | 11.02 | 10.00 | -9.26 | 7.92 | -11.51 | 9.62 | -8.47 | 5.95 | -14.88 | 0.73 | -5.19 | 14.45 | -4.11 | 77.86 | 49.21 | 100.85 | -6.6 | -0.85 | 0 | 1.15 | 7.04 | 12.51 | 11.5 |
| 2020 (7) | 23.71 | 3.4 | 11.90 | 21.8 | 3.58 | -16.67 | 11.02 | 5.45 | 8.95 | 9.82 | 10.51 | 25.27 | 6.99 | 28.49 | 0.77 | 18.46 | 15.07 | -1.63 | 52.18 | -4.59 | 107.97 | 15.4 | -7.97 | 0 | 1.08 | -3.7 | 11.22 | -6.58 |
| 2019 (6) | 22.93 | 10.93 | 9.77 | -2.79 | 4.30 | 42.44 | 10.45 | 15.98 | 8.15 | 15.6 | 8.39 | -9.69 | 5.44 | -10.53 | 0.65 | -19.75 | 15.32 | 19.31 | 54.69 | -11.48 | 93.56 | -16.09 | 6.57 | 0 | 1.12 | 15.95 | 12.01 | 4.25 |
| 2018 (5) | 20.67 | 8.39 | 10.05 | 13.82 | 3.02 | 23.28 | 9.01 | 5.13 | 7.05 | 5.7 | 9.29 | -12.85 | 6.08 | -10.72 | 0.81 | -14.74 | 12.84 | 8.26 | 61.78 | -0.48 | 111.51 | 8.13 | -11.51 | 0 | 0.96 | 0 | 11.52 | 16.6 |
| 2017 (4) | 19.07 | 3.47 | 8.83 | -4.85 | 2.45 | -6.06 | 8.57 | 28.87 | 6.67 | 25.38 | 10.66 | 32.42 | 6.81 | 29.22 | 0.95 | 9.2 | 11.86 | 13.17 | 62.08 | -16.54 | 103.13 | -26.24 | -3.13 | 0 | 0.00 | 0 | 9.88 | 1.23 |
| 2016 (3) | 18.43 | -12.57 | 9.28 | -9.2 | 2.61 | 0.6 | 6.65 | -21.3 | 5.32 | -22.79 | 8.05 | -22.74 | 5.27 | -17.14 | 0.87 | 2.35 | 10.48 | -13.32 | 74.38 | 0.26 | 139.82 | 15.56 | -39.68 | 0 | 0.00 | 0 | 9.76 | 6.32 |
| 2015 (2) | 21.08 | -5.39 | 10.22 | 2.51 | 2.59 | 8.42 | 8.45 | -22.69 | 6.89 | -21.17 | 10.42 | -22.53 | 6.36 | -19.6 | 0.85 | 0.0 | 12.09 | -15.98 | 74.19 | -7.64 | 120.99 | 32.61 | -20.99 | 0 | 0.00 | 0 | 9.18 | -2.13 |
| 2014 (1) | 22.28 | 0 | 9.97 | 0 | 2.39 | 6.25 | 10.93 | 0 | 8.74 | 0 | 13.45 | 0 | 7.91 | 0 | 0.85 | -11.46 | 14.39 | -7.58 | 80.33 | -0.9 | 91.24 | 4.94 | 8.76 | -32.49 | 0.00 | 0 | 9.38 | 2.07 |
