- 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) | 15.03 | -12.16 | -14.21 | 10.65 | 7.47 | 18.86 | 10.95 | 18.0 | 23.87 | 8.56 | 41.49 | 16.15 | 2.37 | 13.94 | 5.33 | 1.40 | 14.75 | 8.53 | 0.14 | -22.22 | -12.5 | 17.98 | 21.9 | 19.39 | 92.88 | -2.1 | 5.68 | 97.22 | -8.87 | -4.18 | 2.78 | 140.41 | 290.69 | 9.37 | -34.52 | -37.11 |
| 23Q3 (19) | 17.11 | 8.22 | 15.14 | 9.91 | 27.87 | 61.66 | 9.28 | 4.15 | 6.06 | 6.05 | 7.65 | -17.12 | 2.08 | 10.05 | 0.0 | 1.22 | 7.96 | 9.91 | 0.18 | 0.0 | 28.57 | 14.75 | 1.65 | -5.69 | 94.87 | -0.87 | 0.62 | 106.68 | 22.74 | 52.46 | -6.89 | -153.57 | -122.94 | 14.31 | -6.9 | 4.76 |
| 23Q2 (18) | 15.81 | 29.59 | 14.23 | 7.75 | 24.2 | 9.0 | 8.91 | 53.36 | -4.19 | 5.62 | 47.51 | -3.44 | 1.89 | 71.82 | -18.53 | 1.13 | 59.15 | -1.74 | 0.18 | 12.5 | -5.26 | 14.51 | 18.55 | 4.61 | 95.70 | 13.55 | -15.88 | 86.92 | -19.02 | 13.69 | 12.86 | 275.31 | -45.39 | 15.37 | 7.18 | 21.02 |
| 23Q1 (17) | 12.20 | -30.37 | -22.74 | 6.24 | -30.36 | -23.44 | 5.81 | -34.28 | -37.93 | 3.81 | -48.3 | -48.51 | 1.10 | -51.11 | -67.16 | 0.71 | -44.96 | -55.62 | 0.16 | 0.0 | -23.81 | 12.24 | -18.73 | -9.8 | 84.28 | -4.11 | -22.14 | 107.34 | 5.79 | 23.29 | -7.34 | -402.51 | -156.68 | 14.34 | -3.76 | -2.38 |
| 22Q4 (16) | 17.52 | 17.9 | 9.84 | 8.96 | 46.17 | 44.98 | 8.84 | 1.03 | -48.69 | 7.37 | 0.96 | -46.36 | 2.25 | 8.17 | -68.09 | 1.29 | 16.22 | -59.05 | 0.16 | 14.29 | -30.43 | 15.06 | -3.71 | -29.46 | 87.89 | -6.79 | -26.59 | 101.46 | 45.0 | 182.67 | -1.46 | -104.86 | -102.28 | 14.90 | 9.08 | -10.35 |
| 22Q3 (15) | 14.86 | 7.37 | -3.76 | 6.13 | -13.78 | -29.54 | 8.75 | -5.91 | -5.51 | 7.30 | 25.43 | 19.28 | 2.08 | -10.34 | -39.88 | 1.11 | -3.48 | -25.5 | 0.14 | -26.32 | -41.67 | 15.64 | 12.76 | 16.63 | 94.29 | -17.11 | -30.03 | 69.97 | -8.47 | -25.57 | 30.03 | 27.5 | 401.67 | 13.66 | 7.56 | 7.9 |
| 22Q2 (14) | 13.84 | -12.35 | -17.22 | 7.11 | -12.76 | -26.24 | 9.30 | -0.64 | -5.2 | 5.82 | -21.35 | -23.42 | 2.32 | -30.75 | -40.82 | 1.15 | -28.13 | -31.14 | 0.19 | -9.52 | -9.52 | 13.87 | 2.21 | -4.41 | 113.76 | 5.09 | -22.03 | 76.45 | -12.18 | -22.26 | 23.55 | 81.95 | 1315.15 | 12.70 | -13.55 | -12.47 |
| 22Q1 (13) | 15.79 | -1.0 | 7.34 | 8.15 | 31.88 | 11.19 | 9.36 | -45.68 | 15.56 | 7.40 | -46.14 | 22.72 | 3.35 | -52.48 | 18.37 | 1.60 | -49.21 | 29.03 | 0.21 | -8.7 | 10.53 | 13.57 | -36.44 | 1.42 | 108.25 | -9.58 | -22.94 | 87.06 | 142.54 | -3.91 | 12.94 | -79.81 | 37.69 | 14.69 | -11.61 | 11.04 |
| 21Q4 (12) | 15.95 | 3.3 | -3.1 | 6.18 | -28.97 | -37.45 | 17.23 | 86.07 | 69.42 | 13.74 | 124.51 | 151.19 | 7.05 | 103.76 | 171.15 | 3.15 | 111.41 | 176.32 | 0.23 | -4.17 | 15.0 | 21.35 | 59.21 | 36.25 | 119.72 | -11.16 | -15.31 | 35.89 | -61.82 | -63.02 | 64.11 | 971.05 | 2079.63 | 16.62 | 31.28 | 26.58 |
| 21Q3 (11) | 15.44 | -7.66 | -4.57 | 8.70 | -9.75 | -4.92 | 9.26 | -5.61 | 2.09 | 6.12 | -19.47 | -1.92 | 3.46 | -11.73 | 7.79 | 1.49 | -10.78 | 7.97 | 0.24 | 14.29 | 14.29 | 13.41 | -7.58 | -6.16 | 134.76 | -7.64 | -7.44 | 94.01 | -4.39 | -6.82 | 5.99 | 259.67 | 769.17 | 12.66 | -12.75 | -9.05 |
| 21Q2 (10) | 16.72 | 13.66 | 10.8 | 9.64 | 31.51 | 25.19 | 9.81 | 21.11 | 28.57 | 7.60 | 26.04 | 33.33 | 3.92 | 38.52 | 40.5 | 1.67 | 34.68 | 31.5 | 0.21 | 10.53 | 0.0 | 14.51 | 8.45 | 5.07 | 145.91 | 3.87 | 0.82 | 98.34 | 8.54 | -2.53 | 1.66 | -82.3 | 286.38 | 14.51 | 9.67 | 0 |
| 21Q1 (9) | 14.71 | -10.63 | 49.49 | 7.33 | -25.81 | 647.96 | 8.10 | -20.35 | -67.82 | 6.03 | 10.24 | -66.5 | 2.83 | 8.85 | -60.53 | 1.24 | 8.77 | -60.26 | 0.19 | -5.0 | 11.76 | 13.38 | -14.61 | -58.6 | 140.48 | -0.63 | 7.85 | 90.60 | -6.65 | 2226.69 | 9.40 | 219.6 | -90.22 | 13.23 | 0.76 | -17.78 |
| 20Q4 (8) | 16.46 | 1.73 | 4.31 | 9.88 | 7.98 | 60.91 | 10.17 | 12.13 | 87.64 | 5.47 | -12.34 | 59.01 | 2.60 | -19.0 | 69.93 | 1.14 | -17.39 | 54.05 | 0.20 | -4.76 | 11.11 | 15.67 | 9.66 | 29.4 | 141.37 | -2.9 | -3.83 | 97.06 | -3.8 | -14.47 | 2.94 | 428.82 | 121.83 | 13.13 | -5.68 | 0 |
| 20Q3 (7) | 16.18 | 7.22 | 7.72 | 9.15 | 18.83 | 23.15 | 9.07 | 18.87 | 14.23 | 6.24 | 9.47 | 11.43 | 3.21 | 15.05 | 17.15 | 1.38 | 8.66 | 11.29 | 0.21 | 0.0 | 5.0 | 14.29 | 3.48 | 4.46 | 145.59 | 0.59 | -0.98 | 100.89 | 0.0 | 7.7 | -0.89 | -0.18 | -114.16 | 13.92 | 0 | 5.14 |
| 20Q2 (6) | 15.09 | 53.35 | 5.3 | 7.70 | 685.71 | 43.66 | 7.63 | -69.69 | 14.74 | 5.70 | -68.33 | 16.8 | 2.79 | -61.09 | 24.55 | 1.27 | -59.29 | 22.12 | 0.21 | 23.53 | 10.53 | 13.81 | -57.27 | 9.43 | 144.73 | 11.12 | 0.33 | 100.89 | 2491.01 | 25.01 | -0.89 | -100.93 | -104.56 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 9.84 | -37.64 | -30.46 | 0.98 | -84.04 | -86.22 | 25.17 | 364.39 | 258.55 | 18.00 | 423.26 | 249.51 | 7.17 | 368.63 | 231.94 | 3.12 | 321.62 | 202.91 | 0.17 | -5.56 | -5.56 | 32.32 | 166.89 | 141.55 | 130.25 | -11.39 | -7.24 | 3.89 | -96.57 | -96.16 | 96.11 | 813.21 | 7077.3 | 16.09 | 0 | 18.31 |
| 19Q4 (4) | 15.78 | 5.06 | 0.0 | 6.14 | -17.36 | 0.0 | 5.42 | -31.74 | 0.0 | 3.44 | -38.57 | 0.0 | 1.53 | -44.16 | 0.0 | 0.74 | -40.32 | 0.0 | 0.18 | -10.0 | 0.0 | 12.11 | -11.48 | 0.0 | 147.00 | -0.02 | 0.0 | 113.48 | 21.13 | 0.0 | -13.48 | -313.28 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 15.02 | 4.82 | 0.0 | 7.43 | 38.62 | 0.0 | 7.94 | 19.4 | 0.0 | 5.60 | 14.75 | 0.0 | 2.74 | 22.32 | 0.0 | 1.24 | 19.23 | 0.0 | 0.20 | 5.26 | 0.0 | 13.68 | 8.4 | 0.0 | 147.03 | 1.93 | 0.0 | 93.68 | 16.08 | 0.0 | 6.32 | -67.71 | 0.0 | 13.24 | -10.9 | 0.0 |
| 19Q2 (2) | 14.33 | 1.27 | 0.0 | 5.36 | -24.61 | 0.0 | 6.65 | -5.27 | 0.0 | 4.88 | -5.24 | 0.0 | 2.24 | 3.7 | 0.0 | 1.04 | 0.97 | 0.0 | 0.19 | 5.56 | 0.0 | 12.62 | -5.68 | 0.0 | 144.25 | 2.73 | 0.0 | 80.71 | -20.39 | 0.0 | 19.57 | 1520.43 | 0.0 | 14.86 | 9.26 | 0.0 |
| 19Q1 (1) | 14.15 | 0.0 | 0.0 | 7.11 | 0.0 | 0.0 | 7.02 | 0.0 | 0.0 | 5.15 | 0.0 | 0.0 | 2.16 | 0.0 | 0.0 | 1.03 | 0.0 | 0.0 | 0.18 | 0.0 | 0.0 | 13.38 | 0.0 | 0.0 | 140.42 | 0.0 | 0.0 | 101.38 | 0.0 | 0.0 | -1.38 | 0.0 | 0.0 | 13.60 | 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) | 15.14 | -1.88 | 8.64 | 13.09 | 4.94 | 4.46 | 8.74 | -4.06 | 5.97 | -13.98 | 7.37 | -27.6 | 4.45 | -15.88 | 0.65 | -9.72 | 14.82 | 3.13 | 92.88 | 5.68 | 98.79 | 17.93 | 1.21 | -92.53 | 1.26 | -3.77 | 13.49 | -3.51 |
| 2022 (9) | 15.43 | -1.84 | 7.64 | -4.02 | 4.73 | 12.67 | 9.11 | -18.73 | 6.94 | -17.87 | 10.18 | -39.4 | 5.29 | -29.75 | 0.72 | -16.28 | 14.37 | -8.76 | 87.89 | -26.59 | 83.77 | 17.93 | 16.18 | -44.15 | 1.31 | 11.71 | 13.98 | -2.1 |
| 2021 (8) | 15.72 | 7.3 | 7.96 | 9.79 | 4.20 | -21.8 | 11.21 | -9.38 | 8.45 | 0.96 | 16.80 | 8.81 | 7.53 | 13.06 | 0.86 | 13.16 | 15.75 | -13.98 | 119.72 | -15.31 | 71.03 | 21.15 | 28.97 | -29.98 | 1.17 | -2.55 | 14.28 | 4.92 |
| 2020 (7) | 14.65 | -1.15 | 7.25 | 11.2 | 5.37 | -0.13 | 12.37 | 82.45 | 8.37 | 74.74 | 15.44 | 79.74 | 6.66 | 61.26 | 0.76 | 0.0 | 18.31 | 41.28 | 141.37 | -3.83 | 58.63 | -38.96 | 41.37 | 949.84 | 1.20 | -7.76 | 13.61 | -4.96 |
| 2019 (6) | 14.82 | -0.27 | 6.52 | -2.98 | 5.38 | 7.17 | 6.78 | -5.7 | 4.79 | -8.59 | 8.59 | -12.08 | 4.13 | -16.06 | 0.76 | -10.59 | 12.96 | 0.31 | 147.00 | 18.97 | 96.06 | 2.75 | 3.94 | -39.51 | 1.30 | -4.25 | 14.32 | 5.92 |
| 2018 (5) | 14.86 | 13.61 | 6.72 | 34.4 | 5.02 | -8.54 | 7.19 | 44.38 | 5.24 | 44.75 | 9.77 | 45.6 | 4.92 | 44.28 | 0.85 | 3.66 | 12.92 | 16.29 | 123.56 | 7.12 | 93.49 | -6.93 | 6.51 | 0 | 1.36 | 0 | 13.52 | 0.97 |
| 2017 (4) | 13.08 | -6.37 | 5.00 | -0.6 | 5.49 | -12.64 | 4.98 | -14.87 | 3.62 | -18.47 | 6.71 | -11.48 | 3.41 | -9.79 | 0.82 | 7.89 | 11.11 | -13.2 | 115.35 | -13.52 | 100.45 | 16.65 | -0.36 | 0 | 0.00 | 0 | 13.39 | -2.9 |
| 2016 (3) | 13.97 | -10.79 | 5.03 | -27.21 | 6.28 | -5.94 | 5.85 | -20.41 | 4.44 | -18.38 | 7.58 | -16.52 | 3.78 | -15.25 | 0.76 | 4.11 | 12.80 | -13.75 | 133.39 | 13.08 | 86.11 | -8.51 | 13.89 | 136.19 | 0.00 | 0 | 13.79 | -2.27 |
| 2015 (2) | 15.66 | -14.57 | 6.91 | -29.56 | 6.68 | 12.31 | 7.35 | -23.12 | 5.44 | -29.17 | 9.08 | -36.33 | 4.46 | -30.96 | 0.73 | -5.19 | 14.84 | -9.57 | 117.96 | -14.34 | 94.12 | -8.25 | 5.88 | 0 | 0.00 | 0 | 14.11 | -4.47 |
| 2014 (1) | 18.33 | 0 | 9.81 | 0 | 5.94 | -8.21 | 9.56 | 0 | 7.68 | 0 | 14.26 | 0 | 6.46 | 0 | 0.77 | 10.0 | 16.41 | -0.73 | 137.70 | -5.55 | 102.58 | 6.7 | -2.63 | 0 | 0.00 | 0 | 14.77 | -2.06 |
