- 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) | 59.84 | -0.65 | 20.62 | -0.56 | -131.28 | 94.31 | 1.10 | -57.36 | 113.46 | 1.23 | -52.33 | 105.6 | 0.43 | -52.75 | 105.28 | 0.28 | -44.0 | 107.31 | 0.17 | 0.0 | -5.56 | 18.28 | -6.35 | 122.11 | 111.47 | 0.78 | -2.64 | -66.67 | -206.67 | -155.91 | 166.67 | 566.67 | 966.67 | 24.93 | -4.0 | -0.24 |
| 23Q3 (19) | 60.23 | 1.38 | 23.12 | 1.79 | 265.31 | 116.85 | 2.58 | 74.32 | 122.79 | 2.58 | 74.32 | 112.52 | 0.91 | 68.52 | 113.77 | 0.50 | 51.52 | 115.38 | 0.17 | 0.0 | 6.25 | 19.52 | 7.02 | 217.92 | 110.61 | 1.71 | 5.61 | 62.50 | 150.0 | -33.47 | 25.00 | -66.67 | 312.5 | 25.97 | -0.04 | 1.52 |
| 23Q2 (18) | 59.41 | 8.21 | 57.92 | 0.49 | 213.95 | 101.93 | 1.48 | 131.25 | 105.37 | 1.48 | 190.2 | 105.09 | 0.54 | 184.21 | 106.47 | 0.33 | 120.0 | 107.66 | 0.17 | 0.0 | 13.33 | 18.24 | 5.25 | 297.83 | 108.75 | 2.89 | 14.67 | 25.00 | 150.0 | -72.92 | 75.00 | -50.0 | 875.0 | 25.98 | 0.62 | -5.11 |
| 23Q1 (17) | 54.90 | 10.66 | 11.81 | -0.43 | 95.63 | -144.33 | 0.64 | 107.83 | 56.1 | 0.51 | 102.32 | 70.0 | 0.19 | 102.33 | 90.0 | 0.15 | 103.92 | 25.0 | 0.17 | -5.56 | -5.56 | 17.33 | 110.57 | 14.46 | 105.70 | -7.68 | 21.56 | -50.00 | -141.94 | -116.67 | 150.00 | 880.0 | 175.0 | 25.82 | 3.32 | 16.04 |
| 22Q4 (16) | 49.61 | 1.41 | 5.96 | -9.84 | 7.34 | -11.06 | -8.17 | 27.83 | 9.12 | -21.96 | -6.6 | -73.05 | -8.15 | -23.3 | -95.91 | -3.83 | -17.85 | -84.13 | 0.18 | 12.5 | 5.88 | 8.23 | 34.04 | 22.11 | 114.49 | 9.32 | 21.53 | 119.23 | 26.92 | 23.21 | -19.23 | -417.31 | 0 | 24.99 | -2.31 | 5.49 |
| 22Q3 (15) | 48.92 | 30.04 | 14.03 | -10.62 | 58.12 | 68.26 | -11.32 | 58.93 | 67.72 | -20.60 | 29.11 | 41.26 | -6.61 | 20.84 | 8.7 | -3.25 | 24.59 | 12.4 | 0.16 | 6.67 | 45.45 | 6.14 | 166.59 | 163.36 | 104.73 | 10.43 | 14.12 | 93.94 | 1.77 | -1.12 | 6.06 | -21.21 | 21.21 | 25.58 | -6.57 | -22.98 |
| 22Q2 (14) | 37.62 | -23.38 | -3.09 | -25.36 | -2714.43 | 45.97 | -27.56 | -6821.95 | 32.19 | -29.06 | -9786.67 | 32.2 | -8.35 | -8450.0 | -10.89 | -4.31 | -3691.67 | -11.08 | 0.15 | -16.67 | 66.67 | -9.22 | -160.9 | 20.1 | 94.84 | 9.07 | 4.99 | 92.31 | -69.23 | -19.94 | 7.69 | 103.85 | 150.3 | 27.38 | 23.06 | -28.99 |
| 22Q1 (13) | 49.10 | 4.87 | -1.94 | 0.97 | 110.95 | 106.28 | 0.41 | 104.56 | 102.61 | 0.30 | 102.36 | 101.91 | 0.10 | 102.4 | 102.61 | 0.12 | 105.77 | 106.09 | 0.18 | 5.88 | 38.46 | 15.14 | 124.63 | 232.75 | 86.95 | -7.71 | -1.92 | 300.00 | 210.0 | 200.0 | -200.00 | 0 | -9700.0 | 22.25 | -6.08 | -24.35 |
| 21Q4 (12) | 46.82 | 9.14 | 16.96 | -8.86 | 73.52 | 21.31 | -8.99 | 74.37 | 17.75 | -12.69 | 63.82 | -16.1 | -4.16 | 42.54 | -26.06 | -2.08 | 43.94 | -26.06 | 0.17 | 54.55 | 0.0 | 6.74 | 169.56 | 21.22 | 94.21 | 2.66 | 15.33 | 96.77 | 1.87 | -7.53 | -0.00 | -100.0 | 100.0 | 23.69 | -28.67 | -0.67 |
| 21Q3 (11) | 42.90 | 10.51 | -6.56 | -33.46 | 28.72 | -157.78 | -35.07 | 13.71 | -152.67 | -35.07 | 18.18 | -152.67 | -7.24 | 3.85 | -107.45 | -3.71 | 4.38 | -100.54 | 0.11 | 22.22 | -21.43 | -9.69 | 16.03 | -430.72 | 91.77 | 1.59 | 12.53 | 95.00 | -17.6 | 1.48 | 5.00 | 132.69 | -21.67 | 33.21 | -13.87 | 23.69 |
| 21Q2 (10) | 38.82 | -22.47 | -16.28 | -46.94 | -203.82 | -94.37 | -40.64 | -158.52 | -173.67 | -42.86 | -172.65 | -355.96 | -7.53 | -96.61 | -258.57 | -3.88 | -96.95 | -259.26 | 0.09 | -30.77 | -25.0 | -11.54 | -353.63 | -300.7 | 90.33 | 1.9 | 14.31 | 115.29 | 15.29 | -30.22 | -15.29 | -834.12 | 75.74 | 38.56 | 31.11 | 0 |
| 21Q1 (9) | 50.07 | 25.08 | -4.9 | -15.45 | -37.21 | 29.87 | -15.72 | -43.82 | 38.86 | -15.72 | -43.82 | 26.34 | -3.83 | -16.06 | 17.99 | -1.97 | -19.39 | 21.51 | 0.13 | -23.53 | 8.33 | 4.55 | -18.17 | 231.5 | 88.65 | 8.52 | 11.1 | 100.00 | -4.44 | 17.14 | 2.08 | 189.58 | -85.76 | 29.41 | 23.31 | 0 |
| 20Q4 (8) | 40.03 | -12.81 | -25.8 | -11.26 | 13.25 | -306.5 | -10.93 | 21.25 | -379.39 | -10.93 | 21.25 | -546.75 | -3.30 | 5.44 | -560.0 | -1.65 | 10.81 | -1000.0 | 0.17 | 21.43 | 6.25 | 5.56 | 89.76 | -63.4 | 81.69 | 0.17 | 2.13 | 104.65 | 11.79 | -12.79 | -2.33 | -136.43 | 88.37 | 23.85 | -11.17 | -1.65 |
| 20Q3 (7) | 45.91 | -0.99 | -18.11 | -12.98 | 46.25 | -25.9 | -13.88 | 6.53 | -62.15 | -13.88 | -47.66 | -103.22 | -3.49 | -66.19 | -108.98 | -1.85 | -71.3 | -131.25 | 0.14 | 16.67 | 7.69 | 2.93 | -49.04 | -69.98 | 81.55 | 3.2 | -3.4 | 93.62 | -43.34 | -21.16 | 6.38 | 110.12 | 134.04 | 26.85 | 0 | -7.7 |
| 20Q2 (6) | 46.37 | -11.93 | -23.78 | -24.15 | -9.62 | -197.78 | -14.85 | 42.24 | -104.26 | -9.40 | 55.95 | -62.35 | -2.10 | 55.03 | -54.41 | -1.08 | 56.97 | -58.82 | 0.12 | 0.0 | -7.69 | 5.75 | 266.18 | -45.24 | 79.02 | -0.97 | 0.15 | 165.22 | 93.54 | 48.13 | -63.04 | -530.8 | -446.38 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 52.65 | -2.41 | -10.44 | -22.03 | -695.31 | -683.99 | -25.71 | -1027.63 | -5146.94 | -21.34 | -1162.72 | -53250.0 | -4.67 | -834.0 | -46600.0 | -2.51 | -1573.33 | -2610.0 | 0.12 | -25.0 | -25.0 | -3.46 | -122.78 | -121.38 | 79.79 | -0.25 | 5.17 | 85.37 | -28.86 | -84.48 | 14.63 | 173.17 | 103.25 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 53.95 | -3.76 | 0.0 | -2.77 | 73.13 | 0.0 | -2.28 | 73.36 | 0.0 | -1.69 | 75.26 | 0.0 | -0.50 | 70.06 | 0.0 | -0.15 | 81.25 | 0.0 | 0.16 | 23.08 | 0.0 | 15.19 | 55.64 | 0.0 | 79.99 | -5.25 | 0.0 | 120.00 | 1.05 | 0.0 | -20.00 | -6.67 | 0.0 | 24.25 | -16.64 | 0.0 |
| 19Q3 (3) | 56.06 | -7.86 | 0.0 | -10.31 | -27.13 | 0.0 | -8.56 | -17.74 | 0.0 | -6.83 | -17.96 | 0.0 | -1.67 | -22.79 | 0.0 | -0.80 | -17.65 | 0.0 | 0.13 | 0.0 | 0.0 | 9.76 | -7.05 | 0.0 | 84.42 | 7.0 | 0.0 | 118.75 | 6.47 | 0.0 | -18.75 | -62.5 | 0.0 | 29.09 | -5.37 | 0.0 |
| 19Q2 (2) | 60.84 | 3.49 | 0.0 | -8.11 | -188.61 | 0.0 | -7.27 | -1383.67 | 0.0 | -5.79 | -14375.0 | 0.0 | -1.36 | -13500.0 | 0.0 | -0.68 | -780.0 | 0.0 | 0.13 | -18.75 | 0.0 | 10.50 | -35.11 | 0.0 | 78.90 | 3.99 | 0.0 | 111.54 | -79.72 | 0.0 | -11.54 | 97.44 | 0.0 | 30.74 | 9.86 | 0.0 |
| 19Q1 (1) | 58.79 | 0.0 | 0.0 | -2.81 | 0.0 | 0.0 | -0.49 | 0.0 | 0.0 | -0.04 | 0.0 | 0.0 | -0.01 | 0.0 | 0.0 | 0.10 | 0.0 | 0.0 | 0.16 | 0.0 | 0.0 | 16.18 | 0.0 | 0.0 | 75.87 | 0.0 | 0.0 | 550.00 | 0.0 | 0.0 | -450.00 | 0.0 | 0.0 | 27.98 | 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) | 58.57 | 25.74 | 0.32 | 0 | 16.13 | 2.12 | 1.44 | 0 | 1.44 | 0 | 2.07 | 0 | 1.25 | 0 | 0.67 | 0.0 | 18.42 | 222.03 | 111.47 | -2.64 | 23.53 | -75.57 | 76.47 | 1964.71 | 1.14 | -9.66 | 25.68 | 3.13 |
| 2022 (9) | 46.58 | 2.64 | -10.50 | 0 | 15.79 | -22.53 | -10.90 | 0 | -16.97 | 0 | -22.98 | 0 | -11.05 | 0 | 0.67 | 34.0 | 5.72 | 0 | 114.49 | 21.53 | 96.30 | -7.14 | 3.70 | 0 | 1.26 | 18.55 | 24.90 | -17.47 |
| 2021 (8) | 45.38 | -1.09 | -23.20 | 0 | 20.39 | 15.16 | -22.45 | 0 | -24.04 | 0 | -22.59 | 0 | -11.71 | 0 | 0.50 | -7.41 | -0.83 | 0 | 94.21 | 15.33 | 103.70 | -2.94 | -3.29 | 0 | 1.06 | 126.23 | 30.17 | 3.07 |
| 2020 (7) | 45.88 | -19.89 | -17.14 | 0 | 17.70 | 7.58 | -16.00 | 0 | -13.74 | 0 | -13.53 | 0 | -7.07 | 0 | 0.54 | -16.92 | 2.78 | -78.88 | 81.69 | 2.13 | 106.85 | -17.81 | -7.31 | 0 | 0.47 | 151.07 | 29.27 | 5.17 |
| 2019 (6) | 57.27 | -7.03 | -5.76 | 0 | 16.46 | 524.17 | -4.43 | 0 | -3.40 | 0 | -3.52 | 0 | -1.73 | 0 | 0.65 | -10.96 | 13.16 | 235.71 | 79.99 | 98.93 | 130.00 | 636.67 | -30.00 | 0 | 0.19 | 2.71 | 27.83 | 2.02 |
| 2018 (5) | 61.60 | 5.75 | 0.19 | 0 | 2.64 | -5.5 | 1.05 | 0 | 0.84 | 0 | 0.87 | 0 | 0.62 | 0 | 0.73 | 7.35 | 3.92 | 0 | 40.21 | -13.88 | 17.65 | -81.16 | 82.35 | 1201.18 | 0.18 | -30.27 | 27.28 | -4.31 |
| 2017 (4) | 58.25 | 3.67 | -4.59 | 0 | 2.79 | 19.03 | -4.87 | 0 | -3.70 | 0 | -3.74 | 0 | -2.51 | 0 | 0.68 | -10.53 | -1.80 | 0 | 46.69 | -7.76 | 93.67 | 0 | 6.33 | -99.21 | 0.26 | 0 | 28.51 | 20.5 |
| 2016 (3) | 56.19 | 0.66 | -0.38 | 0 | 2.34 | 41.2 | 0.03 | -99.43 | 0.78 | -81.2 | 0.90 | -83.3 | 0.60 | -83.38 | 0.76 | -12.64 | 2.55 | -64.03 | 50.62 | -2.03 | -700.00 | 0 | 800.00 | 4826.32 | 0.00 | 0 | 23.66 | 4.74 |
| 2015 (2) | 55.82 | -0.66 | 4.37 | -18.62 | 1.66 | -15.6 | 5.24 | -14.1 | 4.15 | -16.5 | 5.39 | -33.78 | 3.61 | -33.15 | 0.87 | -19.44 | 7.09 | -15.19 | 51.67 | 9.26 | 82.91 | -6.0 | 16.24 | 37.61 | 0.00 | 0 | 22.59 | 4.25 |
| 2014 (1) | 56.19 | 0 | 5.37 | 0 | 1.97 | -12.07 | 6.10 | 0 | 4.97 | 0 | 8.14 | 0 | 5.40 | 0 | 1.08 | -18.8 | 8.36 | 46.15 | 47.29 | -14.75 | 88.20 | -28.47 | 11.80 | 0 | 0.00 | 0 | 21.67 | 1.55 |
