- 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) | 29.83 | 13.04 | -6.46 | 15.21 | 37.65 | -7.48 | 8.28 | -61.02 | -20.69 | 9.94 | -42.07 | -16.19 | 1.30 | -50.57 | -15.58 | 1.16 | -47.98 | -12.12 | 0.12 | -7.69 | 9.09 | 9.75 | -56.72 | -15.0 | 11.04 | -15.6 | -12.87 | 184.21 | 255.72 | 17.51 | -84.21 | -274.66 | -48.37 | 10.80 | -12.05 | -2.96 |
| 23Q3 (19) | 26.39 | 19.3 | -20.49 | 11.05 | 56.74 | -41.63 | 21.24 | 55.6 | -34.65 | 17.16 | 79.69 | -34.75 | 2.63 | 103.88 | -41.81 | 2.23 | 102.73 | -39.4 | 0.13 | 18.18 | -7.14 | 22.53 | 51.41 | -32.34 | 13.08 | -44.13 | -37.36 | 51.79 | -0.49 | -10.88 | 48.21 | 0.53 | 15.09 | 12.28 | 2.5 | 7.62 |
| 23Q2 (18) | 22.12 | -16.02 | -41.36 | 7.05 | -30.4 | -73.25 | 13.65 | 24.89 | -56.9 | 9.55 | 9.52 | -61.4 | 1.29 | 25.24 | -82.85 | 1.10 | 19.57 | -80.25 | 0.11 | 0.0 | -50.0 | 14.88 | 21.97 | -53.85 | 23.41 | 94.76 | -7.36 | 52.04 | -43.23 | -37.62 | 47.96 | 590.61 | 184.66 | 11.98 | -2.6 | 26.37 |
| 23Q1 (17) | 26.34 | -17.4 | -31.03 | 10.13 | -38.38 | -62.4 | 10.93 | 4.69 | -65.59 | 8.72 | -26.48 | -65.52 | 1.03 | -33.12 | -91.56 | 0.92 | -30.3 | -88.07 | 0.11 | 0.0 | -63.33 | 12.20 | 6.36 | -62.26 | 12.02 | -5.13 | -78.56 | 91.67 | -41.52 | 7.9 | 6.94 | 112.24 | -54.67 | 12.30 | 10.51 | 28.26 |
| 22Q4 (16) | 31.89 | -3.92 | -5.31 | 16.44 | -13.15 | -27.55 | 10.44 | -67.88 | -51.85 | 11.86 | -54.9 | -35.86 | 1.54 | -65.93 | -84.24 | 1.32 | -64.13 | -77.63 | 0.11 | -21.43 | -65.62 | 11.47 | -65.56 | -48.66 | 12.67 | -39.32 | -79.53 | 156.76 | 169.77 | 49.91 | -56.76 | -235.48 | -1143.49 | 11.13 | -2.45 | 31.1 |
| 22Q3 (15) | 33.19 | -12.01 | -1.98 | 18.93 | -28.19 | -16.42 | 32.50 | 2.62 | 43.3 | 26.30 | 6.31 | 41.09 | 4.52 | -39.89 | -54.8 | 3.68 | -33.93 | -37.73 | 0.14 | -36.36 | -56.25 | 33.30 | 3.29 | 42.31 | 20.88 | -17.37 | -70.62 | 58.11 | -30.35 | -41.64 | 41.89 | 148.65 | 0 | 11.41 | 20.36 | 28.93 |
| 22Q2 (14) | 37.72 | -1.23 | 28.47 | 26.36 | -2.15 | 32.8 | 31.67 | -0.28 | 83.59 | 24.74 | -2.17 | 82.31 | 7.52 | -38.41 | -3.84 | 5.57 | -27.76 | 20.82 | 0.22 | -26.67 | -35.29 | 32.24 | -0.28 | 79.71 | 25.27 | -54.92 | -63.56 | 83.42 | -1.81 | -27.56 | 16.85 | 9.97 | 211.07 | 9.48 | -1.15 | 23.6 |
| 22Q1 (13) | 38.19 | 13.39 | 75.59 | 26.94 | 18.73 | 100.45 | 31.76 | 46.49 | 128.0 | 25.29 | 36.78 | 128.87 | 12.21 | 24.97 | 78.25 | 7.71 | 30.68 | 91.32 | 0.30 | -6.25 | -16.67 | 32.33 | 44.72 | 120.38 | 56.06 | -9.42 | -22.37 | 84.96 | -18.75 | -11.96 | 15.32 | 435.65 | 338.16 | 9.59 | 12.96 | 36.8 |
| 21Q4 (12) | 33.68 | -0.53 | 98.0 | 22.69 | 0.18 | 168.84 | 21.68 | -4.41 | 206.21 | 18.49 | -0.8 | 143.61 | 9.77 | -2.3 | 110.11 | 5.90 | -0.17 | 109.22 | 0.32 | 0.0 | -13.51 | 22.34 | -4.53 | 187.89 | 61.89 | -12.93 | -13.32 | 104.56 | 5.01 | -11.12 | -4.56 | 0 | 76.13 | 8.49 | -4.07 | 31.02 |
| 21Q3 (11) | 33.86 | 15.33 | 101.79 | 22.65 | 14.11 | 157.09 | 22.68 | 31.48 | 181.74 | 18.64 | 37.36 | 193.54 | 10.00 | 27.88 | 173.97 | 5.91 | 28.2 | 158.08 | 0.32 | -5.88 | -11.11 | 23.40 | 30.43 | 162.33 | 71.08 | 2.49 | 17.7 | 99.57 | -13.54 | -8.39 | 0.00 | 100.0 | 100.0 | 8.85 | 15.38 | 43.67 |
| 21Q2 (10) | 29.36 | 34.99 | 77.62 | 19.85 | 47.69 | 144.16 | 17.25 | 23.83 | 130.31 | 13.57 | 22.81 | 120.65 | 7.82 | 14.16 | 136.97 | 4.61 | 14.39 | 116.43 | 0.34 | -5.56 | 0.0 | 17.94 | 22.29 | 113.57 | 69.35 | -3.96 | 14.82 | 115.17 | 19.34 | 6.03 | -15.17 | -533.82 | -75.96 | 7.67 | 9.42 | 17.1 |
| 21Q1 (9) | 21.75 | 27.87 | 50.94 | 13.44 | 59.24 | 242.86 | 13.93 | 96.75 | 157.96 | 11.05 | 45.59 | 170.83 | 6.85 | 47.31 | 339.1 | 4.03 | 42.91 | 283.81 | 0.36 | -2.7 | 44.0 | 14.67 | 89.05 | 116.37 | 72.21 | 1.13 | 38.63 | 96.50 | -17.97 | 33.27 | 3.50 | 118.29 | -87.33 | 7.01 | 8.18 | -17.63 |
| 20Q4 (8) | 17.01 | 1.37 | 20.47 | 8.44 | -4.2 | 280.18 | 7.08 | -12.05 | 3826.32 | 7.59 | 19.53 | 1797.5 | 4.65 | 27.4 | 2483.33 | 2.82 | 23.14 | 1780.0 | 0.37 | 2.78 | 37.04 | 7.76 | -13.0 | 580.7 | 71.40 | 18.23 | 21.33 | 117.65 | 8.24 | 108.4 | -19.12 | -119.85 | -101.27 | 6.48 | 5.19 | -25.0 |
| 20Q3 (7) | 16.78 | 1.51 | 9.96 | 8.81 | 8.36 | 135.56 | 8.05 | 7.48 | 113.53 | 6.35 | 3.25 | 128.42 | 3.65 | 10.61 | 220.18 | 2.29 | 7.51 | 213.7 | 0.36 | 5.88 | 44.0 | 8.92 | 6.19 | 70.88 | 60.39 | -0.02 | -4.6 | 108.70 | 0.07 | 8.7 | -8.70 | -0.87 | 0 | 6.16 | -5.95 | -30.63 |
| 20Q2 (6) | 16.53 | 14.71 | 9.98 | 8.13 | 107.4 | 204.49 | 7.49 | 38.7 | 146.38 | 6.15 | 50.74 | 365.91 | 3.30 | 111.54 | 587.5 | 2.13 | 102.86 | 508.57 | 0.34 | 36.0 | 47.83 | 8.40 | 23.89 | 84.21 | 60.40 | 15.95 | -5.0 | 108.62 | 50.0 | 24.14 | -8.62 | -131.25 | -168.97 | 6.55 | -23.03 | -32.54 |
| 20Q1 (5) | 14.41 | 2.05 | -18.77 | 3.92 | 76.58 | -0.76 | 5.40 | 2942.11 | 19.73 | 4.08 | 920.0 | 23.64 | 1.56 | 766.67 | 39.29 | 1.05 | 600.0 | 36.36 | 0.25 | -7.41 | 13.64 | 6.78 | 494.74 | 9.18 | 52.09 | -11.49 | 6.31 | 72.41 | 105.17 | -20.34 | 27.59 | -98.16 | 102.3 | 8.51 | -1.5 | -17.14 |
| 19Q4 (4) | 14.12 | -7.47 | 0.0 | 2.22 | -40.64 | 0.0 | -0.19 | -105.04 | 0.0 | 0.40 | -85.61 | 0.0 | 0.18 | -84.21 | 0.0 | 0.15 | -79.45 | 0.0 | 0.27 | 8.0 | 0.0 | 1.14 | -78.16 | 0.0 | 58.85 | -7.03 | 0.0 | -1400.00 | -1500.0 | 0.0 | 1500.00 | 0 | 0.0 | 8.64 | -2.7 | 0.0 |
| 19Q3 (3) | 15.26 | 1.53 | 0.0 | 3.74 | 40.07 | 0.0 | 3.77 | 24.01 | 0.0 | 2.78 | 110.61 | 0.0 | 1.14 | 137.5 | 0.0 | 0.73 | 108.57 | 0.0 | 0.25 | 8.7 | 0.0 | 5.22 | 14.47 | 0.0 | 63.30 | -0.44 | 0.0 | 100.00 | 14.29 | 0.0 | 0.00 | -100.0 | 0.0 | 8.88 | -8.55 | 0.0 |
| 19Q2 (2) | 15.03 | -15.28 | 0.0 | 2.67 | -32.41 | 0.0 | 3.04 | -32.59 | 0.0 | 1.32 | -60.0 | 0.0 | 0.48 | -57.14 | 0.0 | 0.35 | -54.55 | 0.0 | 0.23 | 4.55 | 0.0 | 4.56 | -26.57 | 0.0 | 63.58 | 29.76 | 0.0 | 87.50 | -3.75 | 0.0 | 12.50 | -8.33 | 0.0 | 9.71 | -5.45 | 0.0 |
| 19Q1 (1) | 17.74 | 0.0 | 0.0 | 3.95 | 0.0 | 0.0 | 4.51 | 0.0 | 0.0 | 3.30 | 0.0 | 0.0 | 1.12 | 0.0 | 0.0 | 0.77 | 0.0 | 0.0 | 0.22 | 0.0 | 0.0 | 6.21 | 0.0 | 0.0 | 49.00 | 0.0 | 0.0 | 90.91 | 0.0 | 0.0 | 13.64 | 0.0 | 0.0 | 10.27 | 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) | 26.13 | -26.91 | 10.83 | -52.93 | 1.12 | 90.86 | 13.83 | -50.71 | 11.56 | -49.61 | 6.11 | -73.82 | 5.46 | -70.39 | 0.47 | -41.25 | 15.15 | -47.38 | 11.04 | -12.87 | 78.43 | -4.41 | 21.57 | 20.13 | 0.05 | 4.68 | 11.85 | 15.5 |
| 2022 (9) | 35.75 | 20.17 | 23.01 | 16.68 | 0.59 | 17.73 | 28.06 | 48.15 | 22.94 | 48.0 | 23.34 | -31.79 | 18.44 | -11.13 | 0.80 | -39.85 | 28.79 | 46.74 | 12.67 | -79.53 | 82.04 | -21.22 | 17.96 | 0 | 0.05 | -13.15 | 10.26 | 27.93 |
| 2021 (8) | 29.75 | 81.73 | 19.72 | 156.77 | 0.50 | -29.02 | 18.94 | 164.9 | 15.50 | 146.82 | 34.22 | 162.83 | 20.75 | 160.68 | 1.33 | 6.4 | 19.62 | 143.42 | 61.89 | -13.32 | 104.15 | -2.8 | -4.15 | 0 | 0.06 | -23.28 | 8.02 | 18.64 |
| 2020 (7) | 16.37 | 5.95 | 7.68 | 146.95 | 0.70 | -34.99 | 7.15 | 168.8 | 6.28 | 232.28 | 13.02 | 345.89 | 7.96 | 300.0 | 1.25 | 28.87 | 8.06 | 94.22 | 71.40 | 21.33 | 107.14 | -8.39 | -7.14 | 0 | 0.07 | -58.99 | 6.76 | -27.47 |
| 2019 (6) | 15.45 | -16.26 | 3.11 | -51.33 | 1.08 | 33.3 | 2.66 | -61.51 | 1.89 | -67.97 | 2.92 | -74.5 | 1.99 | -74.09 | 0.97 | -24.22 | 4.15 | -49.14 | 58.85 | -1.93 | 116.95 | 26.41 | -16.95 | 0 | 0.18 | -16.91 | 9.32 | 4.72 |
| 2018 (5) | 18.45 | 16.11 | 6.39 | 122.65 | 0.81 | -33.47 | 6.91 | 196.57 | 5.90 | 235.23 | 11.45 | 306.03 | 7.68 | 271.01 | 1.28 | 10.34 | 8.16 | 109.23 | 60.01 | 38.46 | 92.51 | -24.17 | 7.49 | 0 | 0.21 | 0 | 8.90 | -8.81 |
| 2017 (4) | 15.89 | -1.55 | 2.87 | 80.5 | 1.22 | -25.23 | 2.33 | -52.83 | 1.76 | -57.28 | 2.82 | -47.29 | 2.07 | -50.36 | 1.16 | 14.85 | 3.90 | -43.8 | 43.34 | 25.55 | 122.00 | 284.07 | -24.00 | 0 | 0.00 | 0 | 9.76 | -8.61 |
| 2016 (3) | 16.14 | -19.66 | 1.59 | -74.15 | 1.63 | -2.29 | 4.94 | -34.66 | 4.12 | -32.24 | 5.35 | 2.49 | 4.17 | -5.44 | 1.01 | 38.36 | 6.94 | -28.45 | 34.52 | 55.85 | 31.76 | -60.96 | 67.06 | 259.68 | 0.00 | 0 | 10.68 | -1.39 |
| 2015 (2) | 20.09 | 5.9 | 6.15 | -19.71 | 1.67 | 22.99 | 7.56 | -25.74 | 6.08 | -27.71 | 5.22 | -34.01 | 4.41 | -33.78 | 0.73 | -7.59 | 9.70 | -19.37 | 22.15 | 37.07 | 81.36 | 8.13 | 18.64 | -24.71 | 0.00 | 0 | 10.83 | 30.64 |
| 2014 (1) | 18.97 | 0 | 7.66 | 0 | 1.36 | -31.7 | 10.18 | 0 | 8.41 | 0 | 7.91 | 0 | 6.66 | 0 | 0.79 | -5.95 | 12.03 | 0 | 16.16 | -24.77 | 75.24 | 14.15 | 24.76 | -27.37 | 0.00 | 0 | 8.29 | 18.77 |
