- 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) | 72.69 | 11.04 | -11.15 | -5.75 | 80.46 | 51.39 | 0.34 | 101.03 | 109.32 | 1.59 | 105.8 | 160.69 | 0.51 | 107.13 | 178.46 | 0.25 | 110.78 | 238.89 | 0.10 | 11.11 | 11.11 | 5.13 | 118.62 | 167.19 | 225.26 | 16.44 | 17.49 | 0.00 | -100.0 | -100.0 | 0.00 | -100.0 | 100.0 | 35.90 | -26.49 | -20.93 |
| 23Q3 (19) | 65.46 | -13.94 | -20.83 | -29.42 | 8.12 | -36.27 | -33.08 | -8.89 | -3.5 | -27.41 | -7.66 | 1.62 | -7.15 | -26.33 | -30.47 | -2.32 | -23.4 | -4.5 | 0.09 | 12.5 | 12.5 | -27.55 | -11.45 | -1.81 | 193.45 | -2.16 | 24.87 | 90.62 | -12.61 | 35.94 | 12.50 | 437.5 | -62.5 | 48.84 | -8.35 | -10.6 |
| 23Q2 (18) | 76.06 | -0.95 | -10.4 | -32.02 | -4.13 | -9.58 | -30.38 | -173.69 | 53.96 | -25.46 | -412.27 | 58.15 | -5.66 | -454.9 | 35.46 | -1.88 | -571.43 | 53.0 | 0.08 | 14.29 | 14.29 | -24.72 | -424.84 | 60.33 | 197.72 | 11.62 | 52.44 | 103.70 | -64.1 | 133.33 | -3.70 | 98.04 | -106.67 | 53.29 | -1.35 | -12.98 |
| 23Q1 (17) | 76.79 | -6.14 | -14.55 | -30.75 | -159.93 | -50.74 | -11.10 | -204.11 | 58.38 | -4.97 | -89.69 | 78.56 | -1.02 | -56.92 | 69.37 | -0.28 | -55.56 | 82.82 | 0.07 | -22.22 | 0.0 | -4.71 | -345.31 | 79.22 | 177.13 | -7.61 | 63.95 | 288.89 | -3.7 | 285.19 | -188.89 | 5.56 | -855.56 | 54.02 | 18.99 | -5.49 |
| 22Q4 (16) | 81.81 | -1.05 | -13.02 | -11.83 | 45.21 | -910.27 | -3.65 | 88.58 | -128.52 | -2.62 | 90.6 | -168.23 | -0.65 | 88.14 | -198.48 | -0.18 | 91.89 | -151.43 | 0.09 | 12.5 | 0.0 | 1.92 | 107.1 | -87.66 | 191.73 | 23.76 | 93.86 | 300.00 | 350.0 | 3500.0 | -200.00 | -700.0 | -340.0 | 45.40 | -16.9 | -4.38 |
| 22Q3 (15) | 82.68 | -2.6 | -6.77 | -21.59 | 26.11 | 17.81 | -31.96 | 51.56 | -0.98 | -27.86 | 54.2 | -12.7 | -5.48 | 37.51 | -134.19 | -2.22 | 44.5 | -83.47 | 0.08 | 14.29 | 60.0 | -27.06 | 56.58 | -4.08 | 154.92 | 19.44 | 71.98 | 66.67 | 50.0 | -17.95 | 33.33 | -40.0 | 77.78 | 54.63 | -10.79 | -17.05 |
| 22Q2 (14) | 84.89 | -5.54 | -7.79 | -29.22 | -43.24 | -130.44 | -65.98 | -147.39 | -963.61 | -60.83 | -162.42 | -696.37 | -8.77 | -163.36 | -818.85 | -4.00 | -145.4 | -755.74 | 0.07 | 0.0 | 16.67 | -62.32 | -174.9 | -614.19 | 129.70 | 20.05 | 35.63 | 44.44 | -40.74 | 127.78 | 55.56 | 122.22 | -78.63 | 61.24 | 7.14 | 6.76 |
| 22Q1 (13) | 89.87 | -4.45 | -5.22 | -20.40 | -1497.26 | -421.26 | -26.67 | -308.36 | -285.85 | -23.18 | -703.65 | -280.67 | -3.33 | -604.55 | -247.35 | -1.63 | -565.71 | -246.85 | 0.07 | -22.22 | -22.22 | -22.67 | -245.69 | -232.03 | 108.04 | 9.24 | 5.27 | 75.00 | 800.0 | 75.0 | 25.00 | -70.0 | -56.25 | 57.16 | 20.39 | 44.42 |
| 21Q4 (12) | 94.06 | 6.07 | 0.6 | 1.46 | 105.56 | -91.4 | 12.80 | 140.44 | -25.28 | 3.84 | 115.53 | -71.6 | 0.66 | 128.21 | -75.74 | 0.35 | 128.93 | -73.28 | 0.09 | 80.0 | -10.0 | 15.56 | 159.85 | -21.49 | 98.90 | 9.79 | -8.56 | 8.33 | -89.74 | -91.67 | 83.33 | 344.44 | 0 | 47.48 | -27.91 | 29.62 |
| 21Q3 (11) | 88.68 | -3.67 | -6.32 | -26.27 | -107.18 | -260.28 | -31.65 | -514.27 | -275.74 | -24.72 | -342.35 | -271.55 | -2.34 | -291.8 | -178.52 | -1.21 | -298.36 | -187.68 | 0.05 | -16.67 | -50.0 | -26.00 | -314.52 | -225.48 | 90.08 | -5.8 | -17.12 | 81.25 | 150.78 | -9.72 | 18.75 | -92.79 | 87.5 | 65.86 | 14.82 | 75.53 |
| 21Q2 (10) | 92.06 | -2.91 | -2.5 | -12.68 | -299.69 | -180.61 | 7.64 | -46.76 | -54.71 | 10.20 | -20.5 | -24.39 | 1.22 | -46.02 | -53.96 | 0.61 | -45.05 | -51.97 | 0.06 | -33.33 | -33.33 | 12.12 | -29.41 | -38.26 | 95.63 | -6.82 | -23.62 | -160.00 | -473.33 | -269.41 | 260.00 | 355.0 | 4580.0 | 57.36 | 44.92 | 0 |
| 21Q1 (9) | 94.82 | 1.41 | 2.13 | 6.35 | -62.6 | 1280.43 | 14.35 | -16.23 | 523.91 | 12.83 | -5.1 | 597.28 | 2.26 | -16.91 | 707.14 | 1.11 | -15.27 | 640.0 | 0.09 | -10.0 | 12.5 | 17.17 | -13.37 | 195.52 | 102.63 | -5.11 | 7.67 | 42.86 | -57.14 | 0 | 57.14 | 0 | -42.86 | 39.58 | 8.05 | -6.39 |
| 20Q4 (8) | 93.50 | -1.23 | 0.7 | 16.98 | 3.6 | 86.18 | 17.13 | -4.89 | 69.77 | 13.52 | -6.18 | 74.23 | 2.72 | -8.72 | 74.36 | 1.31 | -5.07 | 72.37 | 0.10 | 0.0 | 0.0 | 19.82 | -4.34 | 58.56 | 108.16 | -0.49 | -1.05 | 100.00 | 11.11 | 10.0 | 0.00 | -100.0 | -100.0 | 36.63 | -2.37 | 1.02 |
| 20Q3 (7) | 94.66 | 0.25 | 0.22 | 16.39 | 4.2 | 98.67 | 18.01 | 6.76 | 81.74 | 14.41 | 6.82 | 81.72 | 2.98 | 12.45 | 82.82 | 1.38 | 8.66 | 76.92 | 0.10 | 11.11 | 0.0 | 20.72 | 5.55 | 65.76 | 108.69 | -13.19 | 1.5 | 90.00 | -4.71 | 10.0 | 10.00 | 80.0 | -45.0 | 37.52 | 0 | 0.03 |
| 20Q2 (6) | 94.42 | 1.7 | -0.03 | 15.73 | 3319.57 | 94.92 | 16.87 | 633.48 | 75.73 | 13.49 | 633.15 | 75.65 | 2.65 | 846.43 | 76.67 | 1.27 | 746.67 | 73.97 | 0.09 | 12.5 | 0.0 | 19.63 | 237.87 | 57.04 | 125.21 | 31.36 | 7.96 | 94.44 | 0 | 15.43 | 5.56 | -94.44 | -69.44 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 92.84 | -0.01 | -2.21 | 0.46 | -94.96 | -94.48 | 2.30 | -77.21 | -77.58 | 1.84 | -76.29 | -77.59 | 0.28 | -82.05 | -81.33 | 0.15 | -80.26 | -80.0 | 0.08 | -20.0 | -11.11 | 5.81 | -53.52 | -57.78 | 95.32 | -12.8 | -3.08 | 0.00 | -100.0 | -100.0 | 100.00 | 1000.0 | 450.0 | 42.28 | 16.6 | 8.63 |
| 19Q4 (4) | 92.85 | -1.69 | 0.0 | 9.12 | 10.55 | 0.0 | 10.09 | 1.82 | 0.0 | 7.76 | -2.14 | 0.0 | 1.56 | -4.29 | 0.0 | 0.76 | -2.56 | 0.0 | 0.10 | 0.0 | 0.0 | 12.50 | 0.0 | 0.0 | 109.31 | 2.08 | 0.0 | 90.91 | 11.11 | 0.0 | 9.09 | -50.0 | 0.0 | 36.26 | -3.33 | 0.0 |
| 19Q3 (3) | 94.45 | 0.0 | 0.0 | 8.25 | 2.23 | 0.0 | 9.91 | 3.23 | 0.0 | 7.93 | 3.26 | 0.0 | 1.63 | 8.67 | 0.0 | 0.78 | 6.85 | 0.0 | 0.10 | 11.11 | 0.0 | 12.50 | 0.0 | 0.0 | 107.08 | -7.67 | 0.0 | 81.82 | 0.0 | 0.0 | 18.18 | 0.0 | 0.0 | 37.51 | 1.02 | 0.0 |
| 19Q2 (2) | 94.45 | -0.52 | 0.0 | 8.07 | -3.12 | 0.0 | 9.60 | -6.43 | 0.0 | 7.68 | -6.46 | 0.0 | 1.50 | 0.0 | 0.0 | 0.73 | -2.67 | 0.0 | 0.09 | 0.0 | 0.0 | 12.50 | -9.16 | 0.0 | 115.98 | 17.93 | 0.0 | 81.82 | 0.0 | 0.0 | 18.18 | 0.0 | 0.0 | 37.13 | -4.6 | 0.0 |
| 19Q1 (1) | 94.94 | 0.0 | 0.0 | 8.33 | 0.0 | 0.0 | 10.26 | 0.0 | 0.0 | 8.21 | 0.0 | 0.0 | 1.50 | 0.0 | 0.0 | 0.75 | 0.0 | 0.0 | 0.09 | 0.0 | 0.0 | 13.76 | 0.0 | 0.0 | 98.35 | 0.0 | 0.0 | 81.82 | 0.0 | 0.0 | 18.18 | 0.0 | 0.0 | 38.92 | 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) | 72.54 | -14.13 | -23.21 | 0 | 3.86 | 6.68 | -17.62 | 0 | -13.34 | 0 | -13.31 | 0 | -4.00 | 0 | 0.32 | 10.34 | -12.08 | 0 | 225.26 | 17.49 | 132.35 | 92.51 | -32.35 | 0 | 0.51 | 2.54 | 47.11 | -12.24 |
| 2022 (9) | 84.48 | -9.16 | -19.85 | 0 | 3.61 | 10.24 | -28.95 | 0 | -25.73 | 0 | -18.10 | 0 | -7.43 | 0 | 0.29 | 3.57 | -24.40 | 0 | 191.73 | 93.86 | 68.75 | 0 | 31.25 | -83.84 | 0.50 | 3.86 | 53.68 | 7.3 |
| 2021 (8) | 93.00 | -0.97 | -4.52 | 0 | 3.28 | 35.74 | 4.95 | -65.19 | 3.48 | -69.29 | 1.96 | -76.67 | 0.98 | -75.8 | 0.28 | -22.22 | 8.52 | -49.62 | 98.90 | -8.56 | -93.33 | 0 | 193.33 | 2181.33 | 0.48 | 0 | 50.03 | 30.42 |
| 2020 (7) | 93.91 | -0.28 | 13.08 | 54.98 | 2.42 | -2.28 | 14.22 | 42.77 | 11.33 | 43.6 | 8.40 | 37.7 | 4.05 | 36.36 | 0.36 | -2.7 | 16.91 | 34.42 | 108.16 | -1.05 | 91.53 | 5.98 | 8.47 | -46.73 | 0.00 | 0 | 38.36 | 2.43 |
| 2019 (6) | 94.17 | 0.38 | 8.44 | 0 | 2.47 | 116.54 | 9.96 | 479.07 | 7.89 | 630.56 | 6.10 | 672.15 | 2.97 | 681.58 | 0.37 | 5.71 | 12.58 | 293.12 | 109.31 | 3.44 | 86.36 | 0 | 15.91 | -89.39 | 0.00 | 0 | 37.45 | -10.45 |
| 2018 (5) | 93.81 | -1.68 | -1.13 | 0 | 1.14 | -23.23 | 1.72 | -82.83 | 1.08 | -87.0 | 0.79 | -89.18 | 0.38 | -88.89 | 0.35 | -14.63 | 3.20 | -72.67 | 105.67 | -6.73 | -62.50 | 0 | 150.00 | 912.5 | 0.08 | 0 | 41.82 | 6.22 |
| 2017 (4) | 95.41 | 0.87 | 8.47 | -30.91 | 1.49 | 5.39 | 10.02 | -24.43 | 8.31 | -24.59 | 7.30 | -44.86 | 3.42 | -35.35 | 0.41 | -14.58 | 11.71 | -21.88 | 113.30 | -0.47 | 85.19 | -8.73 | 14.81 | 85.19 | 0.00 | 0 | 39.37 | -3.43 |
| 2016 (3) | 94.59 | 1.17 | 12.26 | -21.76 | 1.41 | 43.45 | 13.26 | -24.87 | 11.02 | -24.62 | 13.24 | -52.7 | 5.29 | -40.02 | 0.48 | -20.0 | 14.99 | -20.48 | 113.83 | -48.07 | 93.33 | 5.0 | 8.00 | -28.0 | 0.00 | 0 | 40.77 | 5.16 |
| 2015 (2) | 93.50 | -0.25 | 15.67 | 7.11 | 0.98 | 94.1 | 17.65 | 9.09 | 14.62 | 4.06 | 27.99 | -8.26 | 8.82 | -0.56 | 0.60 | -4.76 | 18.85 | 11.6 | 219.19 | 1.85 | 88.89 | -1.92 | 11.11 | 18.52 | 0.00 | 0 | 38.77 | 6.19 |
| 2014 (1) | 93.73 | 0 | 14.63 | 0 | 0.51 | 40.12 | 16.18 | 0 | 14.05 | 0 | 30.51 | 0 | 8.87 | 0 | 0.63 | -14.86 | 16.89 | 27.95 | 215.21 | -23.64 | 90.62 | -1.01 | 9.38 | 10.94 | 0.00 | 0 | 36.51 | 4.67 |
