- 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) | 34.95 | -4.66 | 10.18 | 10.44 | -25.05 | 50.87 | 3.70 | -79.88 | 7.87 | 1.72 | -87.14 | -23.89 | 0.39 | -89.29 | -29.09 | 0.30 | -86.55 | -26.83 | 0.14 | -12.5 | 0.0 | 12.80 | -51.13 | 6.67 | 63.35 | -1.93 | -5.6 | 284.62 | 276.99 | 42.31 | -184.62 | -853.43 | -84.62 | 26.82 | 9.6 | -0.85 |
| 23Q3 (19) | 36.66 | 18.95 | 30.09 | 13.93 | 101.01 | 86.98 | 18.39 | 19.34 | 12.34 | 13.38 | 55.76 | 19.04 | 3.64 | 63.96 | 6.74 | 2.23 | 63.97 | 11.5 | 0.16 | 6.67 | -5.88 | 26.19 | 10.27 | 12.36 | 64.60 | -9.74 | -7.08 | 75.50 | 66.66 | 66.54 | 24.50 | -55.2 | -55.18 | 24.47 | -8.42 | 4.84 |
| 23Q2 (18) | 30.82 | -8.49 | -0.42 | 6.93 | -17.2 | -49.67 | 15.41 | 119.2 | -18.21 | 8.59 | 106.49 | -25.82 | 2.22 | 141.3 | -45.59 | 1.36 | 119.35 | -42.13 | 0.15 | 15.38 | -25.0 | 23.75 | 42.9 | -4.66 | 71.57 | -1.99 | -13.82 | 45.30 | -61.98 | -37.95 | 54.70 | 385.66 | 102.6 | 26.72 | 0.64 | 10.32 |
| 23Q1 (17) | 33.68 | 6.18 | 19.39 | 8.37 | 20.95 | -20.44 | 7.03 | 104.96 | -45.25 | 4.16 | 84.07 | -51.23 | 0.92 | 67.27 | -68.06 | 0.62 | 51.22 | -63.31 | 0.13 | -7.14 | -31.58 | 16.62 | 38.5 | -13.08 | 73.02 | 8.81 | -1.79 | 119.15 | -40.43 | 45.25 | -19.15 | 80.85 | -206.57 | 26.55 | -1.85 | 15.03 |
| 22Q4 (16) | 31.72 | 12.56 | 9.49 | 6.92 | -7.11 | -42.76 | 3.43 | -79.05 | -64.31 | 2.26 | -79.89 | -65.91 | 0.55 | -83.87 | -79.09 | 0.41 | -79.5 | -72.85 | 0.14 | -17.65 | -36.36 | 12.00 | -48.52 | -20.37 | 67.11 | -3.47 | -16.37 | 200.00 | 341.18 | 59.7 | -100.00 | -282.93 | -296.3 | 27.05 | 15.9 | 15.35 |
| 22Q3 (15) | 28.18 | -8.95 | -5.63 | 7.45 | -45.9 | -48.69 | 16.37 | -13.11 | 15.12 | 11.24 | -2.94 | 26.58 | 3.41 | -16.42 | -9.55 | 2.00 | -14.89 | -6.1 | 0.17 | -15.0 | -26.09 | 23.31 | -6.42 | 19.42 | 69.52 | -16.29 | -17.59 | 45.33 | -37.9 | -55.74 | 54.67 | 102.47 | 3106.67 | 23.34 | -3.63 | 9.99 |
| 22Q2 (14) | 30.95 | 9.71 | 3.17 | 13.77 | 30.89 | 0.58 | 18.84 | 46.73 | 67.02 | 11.58 | 35.76 | 29.82 | 4.08 | 41.67 | 24.01 | 2.35 | 39.05 | 22.4 | 0.20 | 5.26 | -4.76 | 24.91 | 30.28 | 44.24 | 83.05 | 11.7 | 3.88 | 73.00 | -11.01 | -39.79 | 27.00 | 50.26 | 227.13 | 24.22 | 4.94 | -4.68 |
| 22Q1 (13) | 28.21 | -2.62 | -10.22 | 10.52 | -12.99 | -17.3 | 12.84 | 33.61 | -7.09 | 8.53 | 28.66 | 7.57 | 2.88 | 9.51 | 8.68 | 1.69 | 11.92 | 5.62 | 0.19 | -13.64 | 0.0 | 19.12 | 26.87 | -6.32 | 74.35 | -7.35 | -0.65 | 82.03 | -34.5 | -10.71 | 17.97 | 171.21 | 121.02 | 23.08 | -1.58 | -11.2 |
| 21Q4 (12) | 28.97 | -2.98 | -4.92 | 12.09 | -16.74 | 6.99 | 9.61 | -32.42 | 26.78 | 6.63 | -25.34 | 36.98 | 2.63 | -30.24 | 65.41 | 1.51 | -29.11 | 51.0 | 0.22 | -4.35 | 15.79 | 15.07 | -22.8 | 4.51 | 80.25 | -4.87 | 10.8 | 125.23 | 22.27 | -16.51 | -25.23 | -1287.85 | 47.9 | 23.45 | 10.51 | -9.56 |
| 21Q3 (11) | 29.86 | -0.47 | -18.39 | 14.52 | 6.06 | -6.5 | 14.22 | 26.06 | 9.47 | 8.88 | -0.45 | 20.98 | 3.77 | 14.59 | 54.51 | 2.13 | 10.94 | 44.9 | 0.23 | 9.52 | 21.05 | 19.52 | 13.03 | -1.66 | 84.36 | 5.52 | 19.14 | 102.42 | -15.52 | -14.38 | -1.82 | 91.44 | 90.74 | 21.22 | -16.49 | -14.3 |
| 21Q2 (10) | 30.00 | -4.52 | -17.33 | 13.69 | 7.63 | -15.81 | 11.28 | -18.38 | -31.18 | 8.92 | 12.48 | -17.41 | 3.29 | 24.15 | -12.96 | 1.92 | 20.0 | -15.42 | 0.21 | 10.53 | 5.0 | 17.27 | -15.38 | -22.83 | 79.95 | 6.83 | 0.03 | 121.24 | 31.97 | 22.1 | -21.24 | -361.24 | -3115.93 | 25.41 | -2.23 | -3.09 |
| 21Q1 (9) | 31.42 | 3.12 | 20.06 | 12.72 | 12.57 | 265.52 | 13.82 | 82.32 | 167.31 | 7.93 | 63.84 | 147.04 | 2.65 | 66.67 | 248.68 | 1.60 | 60.0 | 196.3 | 0.19 | 0.0 | 35.71 | 20.41 | 41.54 | 41.44 | 74.84 | 3.33 | 11.29 | 91.87 | -38.75 | 35.62 | 8.13 | 116.78 | -74.8 | 25.99 | 0.23 | -1.81 |
| 20Q4 (8) | 30.47 | -16.73 | -0.75 | 11.30 | -27.24 | 7.52 | 7.58 | -41.65 | 59.24 | 4.84 | -34.06 | 79.93 | 1.59 | -34.84 | 89.29 | 1.00 | -31.97 | 75.44 | 0.19 | 0.0 | 5.56 | 14.42 | -27.36 | 24.2 | 72.43 | 2.29 | 2.35 | 150.00 | 25.39 | -32.32 | -48.44 | -146.8 | 60.17 | 25.93 | 4.73 | 0 |
| 20Q3 (7) | 36.59 | 0.83 | 22.66 | 15.53 | -4.49 | 45.0 | 12.99 | -20.74 | -4.7 | 7.34 | -32.04 | -17.06 | 2.44 | -35.45 | -15.57 | 1.47 | -35.24 | -17.88 | 0.19 | -5.0 | 0.0 | 19.85 | -11.3 | 1.22 | 70.81 | -11.41 | 6.63 | 119.63 | 20.47 | 53.61 | -19.63 | -2886.92 | -192.41 | 24.76 | -5.57 | 2.06 |
| 20Q2 (6) | 36.29 | 38.67 | 26.84 | 16.26 | 367.24 | 91.07 | 16.39 | 217.02 | 37.38 | 10.80 | 236.45 | 49.79 | 3.78 | 397.37 | 60.17 | 2.27 | 320.37 | 48.37 | 0.20 | 42.86 | 0.0 | 22.38 | 55.09 | 25.87 | 79.93 | 18.86 | 13.07 | 99.30 | 46.58 | 39.85 | 0.70 | -97.82 | -97.57 | 26.22 | -0.94 | 2.5 |
| 20Q1 (5) | 26.17 | -14.76 | 0.96 | 3.48 | -66.89 | -43.04 | 5.17 | 8.61 | -0.96 | 3.21 | 19.33 | 4.9 | 0.76 | -9.52 | -7.32 | 0.54 | -5.26 | -6.9 | 0.14 | -22.22 | -17.65 | 14.43 | 24.29 | 22.08 | 67.25 | -4.97 | 8.57 | 67.74 | -69.43 | -41.94 | 32.26 | 126.52 | 293.55 | 26.47 | 0 | -2.72 |
| 19Q4 (4) | 30.70 | 2.92 | 0.0 | 10.51 | -1.87 | 0.0 | 4.76 | -65.08 | 0.0 | 2.69 | -69.6 | 0.0 | 0.84 | -70.93 | 0.0 | 0.57 | -68.16 | 0.0 | 0.18 | -5.26 | 0.0 | 11.61 | -40.8 | 0.0 | 70.77 | 6.57 | 0.0 | 221.62 | 184.58 | 0.0 | -121.62 | -672.64 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 29.83 | 4.26 | 0.0 | 10.71 | 25.85 | 0.0 | 13.63 | 14.25 | 0.0 | 8.85 | 22.75 | 0.0 | 2.89 | 22.46 | 0.0 | 1.79 | 16.99 | 0.0 | 0.19 | -5.0 | 0.0 | 19.61 | 10.29 | 0.0 | 66.41 | -6.05 | 0.0 | 77.88 | 9.68 | 0.0 | 21.24 | -26.76 | 0.0 | 24.26 | -5.16 | 0.0 |
| 19Q2 (2) | 28.61 | 10.38 | 0.0 | 8.51 | 39.28 | 0.0 | 11.93 | 128.54 | 0.0 | 7.21 | 135.62 | 0.0 | 2.36 | 187.8 | 0.0 | 1.53 | 163.79 | 0.0 | 0.20 | 17.65 | 0.0 | 17.78 | 50.42 | 0.0 | 70.69 | 14.13 | 0.0 | 71.00 | -39.14 | 0.0 | 29.00 | 274.0 | 0.0 | 25.58 | -5.99 | 0.0 |
| 19Q1 (1) | 25.92 | 0.0 | 0.0 | 6.11 | 0.0 | 0.0 | 5.22 | 0.0 | 0.0 | 3.06 | 0.0 | 0.0 | 0.82 | 0.0 | 0.0 | 0.58 | 0.0 | 0.0 | 0.17 | 0.0 | 0.0 | 11.82 | 0.0 | 0.0 | 61.94 | 0.0 | 0.0 | 116.67 | 0.0 | 0.0 | -16.67 | 0.0 | 0.0 | 27.21 | 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) | 34.08 | 14.79 | 10.04 | 0.8 | 7.64 | 27.08 | 11.53 | -14.72 | 7.27 | -17.39 | 7.01 | -36.68 | 4.50 | -32.43 | 0.58 | -20.55 | 20.14 | -1.08 | 63.35 | -5.6 | 87.10 | 18.32 | 12.90 | -51.1 | 0.50 | 50.08 | 26.08 | 7.46 |
| 2022 (9) | 29.69 | -1.0 | 9.96 | -25.06 | 6.01 | 16.81 | 13.52 | 10.82 | 8.80 | 8.78 | 11.07 | -9.71 | 6.66 | -7.63 | 0.73 | -15.12 | 20.36 | 13.17 | 67.11 | -16.37 | 73.61 | -32.51 | 26.39 | 0 | 0.33 | 7.0 | 24.27 | 1.8 |
| 2021 (8) | 29.99 | -8.76 | 13.29 | 8.05 | 5.15 | -16.85 | 12.20 | 11.11 | 8.09 | 18.27 | 12.26 | 47.36 | 7.21 | 39.46 | 0.86 | 21.13 | 17.99 | -0.33 | 80.25 | 10.8 | 109.07 | -2.8 | -8.88 | 0 | 0.31 | -12.21 | 23.84 | -7.6 |
| 2020 (7) | 32.87 | 13.86 | 12.30 | 35.76 | 6.19 | 12.75 | 10.98 | 20.39 | 6.84 | 22.14 | 8.32 | 19.2 | 5.17 | 13.38 | 0.71 | -6.58 | 18.05 | 17.13 | 72.43 | 2.35 | 112.21 | 13.0 | -11.92 | 0 | 0.35 | 69.26 | 25.80 | 0.51 |
| 2019 (6) | 28.87 | 5.17 | 9.06 | 4.26 | 5.49 | 28.37 | 9.12 | -15.32 | 5.60 | -14.63 | 6.98 | -15.39 | 4.56 | -14.93 | 0.76 | -5.0 | 15.41 | 0.33 | 70.77 | 20.75 | 99.30 | 23.21 | 0.70 | -96.4 | 0.21 | -7.79 | 25.67 | 2.03 |
| 2018 (5) | 27.45 | -9.35 | 8.69 | -24.83 | 4.28 | -2.53 | 10.77 | 6.0 | 6.56 | 6.67 | 8.25 | 20.26 | 5.36 | 17.03 | 0.80 | 9.59 | 15.36 | 3.92 | 58.61 | 2.84 | 80.60 | -29.16 | 19.40 | 0 | 0.23 | 0 | 25.16 | -3.16 |
| 2017 (4) | 30.28 | -5.61 | 11.56 | -16.11 | 4.39 | -9.87 | 10.16 | -32.36 | 6.15 | -34.85 | 6.86 | -32.68 | 4.58 | -33.04 | 0.73 | 2.82 | 14.78 | -26.69 | 56.99 | 14.64 | 113.77 | 23.97 | -13.77 | 0 | 0.00 | 0 | 25.98 | 2.4 |
| 2016 (3) | 32.08 | 4.09 | 13.78 | 109.74 | 4.87 | -9.0 | 15.02 | 41.83 | 9.44 | 155.83 | 10.19 | 163.99 | 6.84 | 157.14 | 0.71 | 5.97 | 20.16 | 23.83 | 49.71 | -10.51 | 91.77 | 47.83 | 8.23 | -78.31 | 0.00 | 0 | 25.37 | 3.89 |
| 2015 (2) | 30.82 | -8.76 | 6.57 | -57.83 | 5.35 | 20.87 | 10.59 | -41.17 | 3.69 | -73.43 | 3.86 | -77.31 | 2.66 | -76.04 | 0.67 | -15.19 | 16.28 | -28.38 | 55.55 | -0.89 | 62.08 | -28.32 | 37.92 | 183.27 | 0.00 | 0 | 24.42 | 1.03 |
| 2014 (1) | 33.78 | 0 | 15.58 | 0 | 4.42 | 3.29 | 18.00 | 0 | 13.89 | 0 | 17.01 | 0 | 11.10 | 0 | 0.79 | -4.82 | 22.73 | 23.2 | 56.05 | 1.58 | 86.61 | -4.07 | 13.39 | 37.8 | 0.00 | 0 | 24.17 | -6.39 |
