- 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) | 17.51 | 10.82 | -7.16 | 1.14 | -53.47 | -26.92 | -0.99 | -154.1 | -187.61 | -2.44 | -208.86 | -1120.0 | -1.25 | -177.78 | -1150.0 | -0.34 | -3500.0 | -342.86 | 0.22 | -8.33 | 0.0 | 4.84 | -32.4 | -16.98 | 129.39 | 0.66 | -1.64 | -120.00 | -194.29 | -180.0 | 220.00 | 705.0 | 760.0 | 22.26 | 9.49 | -7.6 |
| 23Q3 (19) | 15.80 | -2.41 | -17.23 | 2.45 | 92.91 | -55.94 | 1.83 | -23.75 | -77.38 | -0.79 | -182.29 | -117.83 | -0.45 | -195.74 | -116.42 | 0.01 | -97.67 | -99.21 | 0.24 | 14.29 | -4.0 | 7.16 | -16.36 | -39.58 | 128.54 | -10.21 | -6.11 | 127.27 | 118.18 | 84.21 | -36.36 | -172.73 | -217.65 | 20.33 | -10.79 | -0.73 |
| 23Q2 (18) | 16.19 | 1.31 | -12.34 | 1.27 | 292.42 | -35.53 | 2.40 | 194.86 | -59.93 | 0.96 | 133.8 | -70.64 | 0.47 | 136.43 | -76.5 | 0.43 | 226.47 | -54.26 | 0.21 | 5.0 | -16.0 | 8.56 | 152.51 | -14.4 | 143.15 | 10.26 | -4.86 | 58.33 | 152.78 | 79.49 | 50.00 | -27.78 | -25.93 | 22.79 | -4.76 | 21.61 |
| 23Q1 (17) | 15.98 | -15.27 | -1.72 | -0.66 | -142.31 | -127.16 | -2.53 | -323.89 | -175.52 | -2.84 | -1320.0 | -239.9 | -1.29 | -1190.0 | -208.4 | -0.34 | -342.86 | -156.67 | 0.20 | -9.09 | -20.0 | 3.39 | -41.85 | -51.64 | 129.83 | -1.31 | -1.34 | 23.08 | -84.62 | -68.27 | 69.23 | 307.69 | 153.85 | 23.93 | -0.66 | 25.29 |
| 22Q4 (16) | 18.86 | -1.2 | 9.46 | 1.56 | -71.94 | -72.44 | 1.13 | -86.03 | -78.72 | -0.20 | -104.51 | -103.57 | -0.10 | -103.65 | -102.45 | 0.14 | -88.89 | -92.31 | 0.22 | -12.0 | -29.03 | 5.83 | -50.8 | -32.91 | 131.55 | -3.91 | -2.18 | 150.00 | 117.11 | 39.77 | -33.33 | -207.84 | -355.56 | 24.09 | 17.63 | 46.09 |
| 22Q3 (15) | 19.09 | 3.36 | 28.55 | 5.56 | 182.23 | 102.92 | 8.09 | 35.06 | 201.87 | 4.43 | 35.47 | 201.36 | 2.74 | 37.0 | 179.59 | 1.26 | 34.04 | 152.0 | 0.25 | 0.0 | -10.71 | 11.85 | 18.5 | 82.03 | 136.90 | -9.02 | -0.34 | 69.09 | 112.59 | -34.55 | 30.91 | -54.21 | 0 | 20.48 | 9.28 | 5.51 |
| 22Q2 (14) | 18.47 | 13.59 | 11.53 | 1.97 | -18.93 | -25.38 | 5.99 | 78.81 | 258.68 | 3.27 | 61.08 | 697.56 | 2.00 | 68.07 | 700.0 | 0.94 | 56.67 | 370.0 | 0.25 | 0.0 | 4.17 | 10.00 | 42.65 | 62.34 | 150.47 | 14.35 | 8.29 | 32.50 | -55.31 | -78.33 | 67.50 | 147.5 | 212.5 | 18.74 | -1.88 | -13.72 |
| 22Q1 (13) | 16.26 | -5.63 | 0.12 | 2.43 | -57.07 | 0.0 | 3.35 | -36.91 | -55.8 | 2.03 | -63.75 | -57.8 | 1.19 | -70.83 | -60.73 | 0.60 | -67.03 | -49.58 | 0.25 | -19.35 | 13.64 | 7.01 | -19.33 | -43.05 | 131.59 | -2.15 | -25.89 | 72.73 | -32.23 | 123.78 | 27.27 | 472.73 | -59.6 | 19.10 | 15.83 | -21.14 |
| 21Q4 (12) | 17.23 | 16.03 | 11.52 | 5.66 | 106.57 | 1055.1 | 5.31 | 98.13 | 1942.31 | 5.60 | 280.95 | 988.89 | 4.08 | 316.33 | 1027.27 | 1.82 | 264.0 | 6166.67 | 0.31 | 10.71 | 29.17 | 8.69 | 33.49 | 84.5 | 134.48 | -2.1 | -27.38 | 107.32 | 1.67 | -64.23 | -7.32 | 0 | 92.68 | 16.49 | -15.04 | -23.27 |
| 21Q3 (11) | 14.85 | -10.33 | -2.17 | 2.74 | 3.79 | 35.64 | 2.68 | 60.48 | 22.37 | 1.47 | 258.54 | 101.37 | 0.98 | 292.0 | 96.0 | 0.50 | 150.0 | 78.57 | 0.28 | 16.67 | 16.67 | 6.51 | 5.68 | -2.98 | 137.37 | -1.14 | -27.62 | 105.56 | -29.63 | 15.15 | 0.00 | 100.0 | -100.0 | 19.41 | -10.64 | -12.69 |
| 21Q2 (10) | 16.56 | 1.97 | -21.55 | 2.64 | 8.64 | -9.9 | 1.67 | -77.97 | -48.3 | 0.41 | -91.48 | -76.02 | 0.25 | -91.75 | -82.27 | 0.20 | -83.19 | -64.91 | 0.24 | 9.09 | -7.69 | 6.16 | -49.96 | -41.0 | 138.95 | -21.74 | -38.43 | 150.00 | 361.54 | 66.67 | -60.00 | -188.89 | -700.0 | 21.72 | -10.32 | 0 |
| 21Q1 (9) | 16.24 | 5.11 | -28.62 | 2.43 | 395.92 | 1.67 | 7.58 | 2815.38 | 200.79 | 4.81 | 863.49 | 329.46 | 3.03 | 788.64 | 278.75 | 1.19 | 4066.67 | 205.13 | 0.22 | -8.33 | -4.35 | 12.31 | 161.36 | 16.57 | 177.55 | -4.12 | -12.66 | 32.50 | -89.17 | -65.88 | 67.50 | 167.5 | 1317.5 | 24.22 | 12.7 | 0 |
| 20Q4 (8) | 15.45 | 1.78 | -32.65 | 0.49 | -75.74 | -92.2 | 0.26 | -88.13 | -91.42 | -0.63 | -186.3 | -150.4 | -0.44 | -188.0 | -137.29 | -0.03 | -110.71 | -106.12 | 0.24 | 0.0 | -17.24 | 4.71 | -29.81 | -48.86 | 185.18 | -2.43 | -15.26 | 300.00 | 227.27 | 45.71 | -100.00 | -1300.0 | 5.56 | 21.49 | -3.33 | 7.08 |
| 20Q3 (7) | 15.18 | -28.09 | -28.56 | 2.02 | -31.06 | -52.91 | 2.19 | -32.2 | -57.88 | 0.73 | -57.31 | -67.84 | 0.50 | -64.54 | -76.64 | 0.28 | -50.88 | -64.56 | 0.24 | -7.69 | -17.24 | 6.71 | -35.73 | -41.24 | 189.79 | -15.9 | -16.19 | 91.67 | 1.85 | 11.17 | 8.33 | -16.67 | -52.5 | 22.23 | 0 | 11.76 |
| 20Q2 (6) | 21.11 | -7.21 | 15.61 | 2.93 | 22.59 | -26.01 | 3.23 | 28.17 | -30.69 | 1.71 | 52.68 | -33.72 | 1.41 | 76.25 | -49.28 | 0.57 | 46.15 | -44.12 | 0.26 | 13.04 | -23.53 | 10.44 | -1.14 | 2.45 | 225.68 | 11.01 | -0.51 | 90.00 | -5.5 | 5.88 | 10.00 | 110.0 | -33.33 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 22.75 | -0.83 | 27.31 | 2.39 | -61.94 | -42.41 | 2.52 | -16.83 | -44.86 | 1.12 | -10.4 | -63.16 | 0.80 | -32.2 | -76.05 | 0.39 | -20.41 | -68.29 | 0.23 | -20.69 | -36.11 | 10.56 | 14.66 | 6.13 | 203.29 | -6.98 | -4.89 | 95.24 | -53.74 | 5.44 | 4.76 | 104.5 | -50.79 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 22.94 | 7.95 | 0.0 | 6.28 | 46.39 | 0.0 | 3.03 | -41.73 | 0.0 | 1.25 | -44.93 | 0.0 | 1.18 | -44.86 | 0.0 | 0.49 | -37.97 | 0.0 | 0.29 | 0.0 | 0.0 | 9.21 | -19.35 | 0.0 | 218.54 | -3.49 | 0.0 | 205.88 | 149.69 | 0.0 | -105.88 | -703.53 | 0.0 | 20.07 | 0.9 | 0.0 |
| 19Q3 (3) | 21.25 | 16.37 | 0.0 | 4.29 | 8.33 | 0.0 | 5.20 | 11.59 | 0.0 | 2.27 | -12.02 | 0.0 | 2.14 | -23.02 | 0.0 | 0.79 | -22.55 | 0.0 | 0.29 | -14.71 | 0.0 | 11.42 | 12.07 | 0.0 | 226.44 | -0.18 | 0.0 | 82.46 | -2.99 | 0.0 | 17.54 | 16.96 | 0.0 | 19.89 | 13.53 | 0.0 |
| 19Q2 (2) | 18.26 | 2.18 | 0.0 | 3.96 | -4.58 | 0.0 | 4.66 | 1.97 | 0.0 | 2.58 | -15.13 | 0.0 | 2.78 | -16.77 | 0.0 | 1.02 | -17.07 | 0.0 | 0.34 | -5.56 | 0.0 | 10.19 | 2.41 | 0.0 | 226.84 | 6.12 | 0.0 | 85.00 | -5.89 | 0.0 | 15.00 | 55.0 | 0.0 | 17.52 | 6.18 | 0.0 |
| 19Q1 (1) | 17.87 | 0.0 | 0.0 | 4.15 | 0.0 | 0.0 | 4.57 | 0.0 | 0.0 | 3.04 | 0.0 | 0.0 | 3.34 | 0.0 | 0.0 | 1.23 | 0.0 | 0.0 | 0.36 | 0.0 | 0.0 | 9.95 | 0.0 | 0.0 | 213.75 | 0.0 | 0.0 | 90.32 | 0.0 | 0.0 | 9.68 | 0.0 | 0.0 | 16.50 | 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) | 16.35 | -9.97 | 1.11 | -62.24 | 4.25 | 42.61 | 0.25 | -94.79 | -1.25 | 0 | -2.54 | 0 | -0.23 | 0 | 0.88 | -12.0 | 6.04 | -31.44 | 129.39 | -1.64 | 460.00 | 654.4 | -360.00 | 0 | 2.34 | 6.78 | 22.25 | 8.7 |
| 2022 (9) | 18.16 | 11.82 | 2.94 | -16.48 | 2.98 | -11.96 | 4.80 | 13.21 | 2.50 | -20.63 | 5.83 | -31.41 | 3.04 | -18.06 | 1.00 | -4.76 | 8.81 | 6.4 | 131.55 | -2.18 | 60.98 | -26.96 | 39.02 | 136.31 | 2.20 | 106.43 | 20.47 | 2.09 |
| 2021 (8) | 16.24 | 0.43 | 3.52 | 98.87 | 3.38 | -12.54 | 4.24 | 104.83 | 3.15 | 600.0 | 8.50 | 804.26 | 3.71 | 437.68 | 1.05 | 52.17 | 8.28 | 20.35 | 134.48 | -27.38 | 83.49 | -3.33 | 16.51 | 21.1 | 1.06 | 66.81 | 20.05 | -12.79 |
| 2020 (7) | 16.17 | -18.74 | 1.77 | -61.69 | 3.87 | -21.48 | 2.07 | -52.85 | 0.45 | -80.77 | 0.94 | -89.87 | 0.69 | -80.67 | 0.69 | -46.09 | 6.88 | -32.28 | 185.18 | -15.26 | 86.36 | -17.88 | 13.64 | 0 | 0.64 | -4.12 | 22.99 | 25.29 |
| 2019 (6) | 19.90 | 8.8 | 4.62 | 31.25 | 4.92 | 39.91 | 4.39 | 0.23 | 2.34 | -18.47 | 9.28 | -29.32 | 3.57 | -28.74 | 1.28 | -17.95 | 10.16 | 15.32 | 218.54 | 7.95 | 105.16 | 30.77 | -5.16 | 0 | 0.66 | -12.37 | 18.35 | 10.54 |
| 2018 (5) | 18.29 | -3.58 | 3.52 | 49.15 | 3.52 | -21.95 | 4.38 | 63.43 | 2.87 | 95.24 | 13.13 | 163.65 | 5.01 | 102.83 | 1.56 | 17.29 | 8.81 | 6.4 | 202.45 | 10.46 | 80.42 | -9.43 | 19.58 | 62.26 | 0.76 | 0 | 16.60 | -16.37 |
| 2017 (4) | 18.97 | 2.37 | 2.36 | 26.88 | 4.51 | -15.03 | 2.68 | 11.67 | 1.47 | 3.52 | 4.98 | -4.05 | 2.47 | -13.64 | 1.33 | -16.35 | 8.28 | -6.12 | 183.28 | 39.3 | 88.79 | 14.64 | 12.07 | -46.48 | 0.00 | 0 | 19.85 | 2.16 |
| 2016 (3) | 18.53 | 26.66 | 1.86 | 0 | 5.31 | 68.41 | 2.40 | 81.82 | 1.42 | 610.0 | 5.19 | 879.25 | 2.86 | 281.33 | 1.59 | 29.27 | 8.82 | 49.24 | 131.57 | 4.47 | 77.45 | 0 | 22.55 | -86.74 | 0.00 | 0 | 19.43 | -12.56 |
| 2015 (2) | 14.63 | 2.02 | -0.90 | 0 | 3.15 | 19.98 | 1.32 | -27.47 | 0.20 | -80.95 | 0.53 | -81.47 | 0.75 | -60.32 | 1.23 | -1.6 | 5.91 | 4.6 | 125.94 | 24.15 | -70.00 | 0 | 170.00 | 0 | 0.00 | 0 | 22.22 | 16.03 |
| 2014 (1) | 14.34 | 0 | 2.44 | 0 | 2.63 | -15.11 | 1.82 | 0 | 1.05 | 0 | 2.86 | 0 | 1.89 | 0 | 1.25 | -1.57 | 5.65 | -49.1 | 101.44 | -28.15 | 132.43 | 108.34 | -32.43 | 0 | 0.00 | 0 | 19.15 | -0.1 |
