- 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) | 24.95 | 16.26 | 21.47 | 1.87 | -68.78 | -61.44 | -0.41 | -105.29 | -111.02 | 1.93 | -67.23 | 34.97 | 0.79 | -75.54 | -10.23 | 0.60 | -60.26 | 22.45 | 0.17 | -19.05 | -26.09 | 5.87 | -52.58 | -19.7 | 132.96 | -8.05 | -17.18 | -463.33 | -699.79 | -455.4 | 563.33 | 2376.05 | 1954.99 | 18.89 | 37.58 | 27.81 |
| 23Q3 (19) | 21.46 | 3.12 | -3.85 | 5.99 | -14.43 | -34.39 | 7.75 | -4.44 | -32.31 | 5.89 | 6.13 | -27.82 | 3.23 | -6.92 | -51.86 | 1.51 | -3.21 | -39.6 | 0.21 | -12.5 | -27.59 | 12.38 | 2.57 | -11.13 | 144.60 | -13.6 | -18.46 | 77.25 | -10.52 | -3.13 | 22.75 | 66.48 | 12.32 | 13.73 | 7.86 | 1.33 |
| 23Q2 (18) | 20.81 | -4.93 | -15.51 | 7.00 | -16.67 | -27.69 | 8.11 | 6.99 | -22.91 | 5.55 | 26.42 | -31.73 | 3.47 | 42.8 | -41.29 | 1.56 | 38.05 | -30.67 | 0.24 | 14.29 | -11.11 | 12.07 | 3.52 | -8.28 | 167.36 | 3.08 | -7.58 | 86.33 | -22.1 | -6.17 | 13.67 | 226.31 | 71.15 | 12.73 | -3.71 | -8.75 |
| 23Q1 (17) | 21.89 | 6.57 | -4.45 | 8.40 | 73.2 | -19.62 | 7.58 | 103.76 | -35.05 | 4.39 | 206.99 | -48.95 | 2.43 | 176.14 | -60.68 | 1.13 | 130.61 | -53.31 | 0.21 | -8.7 | -22.22 | 11.66 | 59.51 | -18.0 | 162.36 | 1.13 | -0.45 | 110.82 | -15.0 | 23.78 | -10.82 | 64.37 | -203.69 | 13.22 | -10.55 | 0.46 |
| 22Q4 (16) | 20.54 | -7.97 | -8.34 | 4.85 | -46.88 | -37.26 | 3.72 | -67.51 | -50.4 | 1.43 | -82.48 | -75.8 | 0.88 | -86.89 | -78.22 | 0.49 | -80.4 | -70.3 | 0.23 | -20.69 | -14.81 | 7.31 | -47.52 | -30.11 | 160.54 | -9.47 | 0.12 | 130.37 | 63.48 | 26.47 | -30.37 | -249.92 | -885.66 | 14.78 | 9.08 | -0.94 |
| 22Q3 (15) | 22.32 | -9.38 | -5.66 | 9.13 | -5.68 | -7.78 | 11.45 | 8.84 | 15.77 | 8.16 | 0.37 | 17.75 | 6.71 | 13.54 | 35.83 | 2.50 | 11.11 | 23.15 | 0.29 | 7.41 | 3.57 | 13.93 | 5.85 | 10.64 | 177.34 | -2.07 | 15.71 | 79.74 | -13.34 | -20.38 | 20.26 | 153.68 | 13415.33 | 13.55 | -2.87 | -2.02 |
| 22Q2 (14) | 24.63 | 7.51 | -5.2 | 9.68 | -7.37 | -23.36 | 10.52 | -9.85 | -18.89 | 8.13 | -5.47 | -11.15 | 5.91 | -4.37 | -15.21 | 2.25 | -7.02 | -24.24 | 0.27 | 0.0 | -15.62 | 13.16 | -7.45 | -14.88 | 181.09 | 11.04 | 20.08 | 92.02 | 2.78 | -5.46 | 7.98 | -23.48 | 203.21 | 13.95 | 6.0 | -6.94 |
| 22Q1 (13) | 22.91 | 2.23 | -6.15 | 10.45 | 35.19 | -13.71 | 11.67 | 55.6 | -3.47 | 8.60 | 45.52 | -1.04 | 6.18 | 52.97 | -4.04 | 2.42 | 46.67 | -15.38 | 0.27 | 0.0 | -15.62 | 14.22 | 35.95 | -2.07 | 163.09 | 1.72 | 27.91 | 89.53 | -13.15 | -10.65 | 10.44 | 438.69 | 5300.86 | 13.16 | -11.8 | -4.71 |
| 21Q4 (12) | 22.41 | -5.28 | -10.0 | 7.73 | -21.92 | -17.85 | 7.50 | -24.17 | -20.47 | 5.91 | -14.72 | -25.1 | 4.04 | -18.22 | -23.63 | 1.65 | -18.72 | -29.49 | 0.27 | -3.57 | -6.9 | 10.46 | -16.92 | -16.12 | 160.34 | 4.62 | 21.64 | 103.08 | 2.92 | 3.39 | -3.08 | -1925.27 | -1118.59 | 14.92 | 7.88 | -4.36 |
| 21Q3 (11) | 23.66 | -8.93 | -0.76 | 9.90 | -21.62 | -9.51 | 9.89 | -23.75 | -9.18 | 6.93 | -24.26 | -13.59 | 4.94 | -29.12 | -22.93 | 2.03 | -31.65 | -25.37 | 0.28 | -12.5 | -15.15 | 12.59 | -18.56 | -5.9 | 153.26 | 1.62 | 12.39 | 100.15 | 2.9 | -0.22 | -0.15 | -105.78 | 59.67 | 13.83 | -7.74 | 7.54 |
| 21Q2 (10) | 25.98 | 6.43 | 13.15 | 12.63 | 4.29 | 9.83 | 12.97 | 7.28 | 14.07 | 9.15 | 5.29 | 13.95 | 6.97 | 8.23 | 3.72 | 2.97 | 3.85 | 6.07 | 0.32 | 0.0 | -5.88 | 15.46 | 6.47 | 11.79 | 150.81 | 18.28 | 4.37 | 97.33 | -2.86 | -3.79 | 2.63 | 1412.53 | 326.88 | 14.99 | 8.54 | 35.66 |
| 21Q1 (9) | 24.41 | -1.97 | 23.03 | 12.11 | 28.69 | 97.88 | 12.09 | 28.21 | 96.59 | 8.69 | 10.14 | 78.44 | 6.44 | 21.74 | 134.18 | 2.86 | 22.22 | 136.36 | 0.32 | 10.34 | 39.13 | 14.52 | 16.44 | 45.49 | 127.50 | -3.28 | -15.01 | 100.20 | 0.5 | 0.69 | -0.20 | -166.33 | -141.13 | 13.81 | -11.47 | -3.02 |
| 20Q4 (8) | 24.90 | 4.45 | 20.23 | 9.41 | -13.99 | 59.22 | 9.43 | -13.41 | 64.29 | 7.89 | -1.62 | 80.14 | 5.29 | -17.47 | 77.52 | 2.34 | -13.97 | 90.24 | 0.29 | -12.12 | 7.41 | 12.47 | -6.8 | 38.71 | 131.82 | -3.33 | -13.04 | 99.70 | -0.68 | -3.09 | 0.30 | 180.2 | 110.53 | 15.60 | 21.31 | 0 |
| 20Q3 (7) | 23.84 | 3.83 | 3.7 | 10.94 | -4.87 | 26.47 | 10.89 | -4.22 | 26.48 | 8.02 | -0.12 | 26.5 | 6.41 | -4.61 | 35.52 | 2.72 | -2.86 | 36.0 | 0.33 | -2.94 | 10.0 | 13.38 | -3.25 | 16.55 | 136.36 | -5.63 | -13.77 | 100.38 | -0.77 | -0.03 | -0.38 | 67.5 | 21.22 | 12.86 | 16.38 | -2.65 |
| 20Q2 (6) | 22.96 | 15.73 | 8.25 | 11.50 | 87.91 | 41.1 | 11.37 | 84.88 | 25.08 | 8.03 | 64.89 | 16.55 | 6.72 | 144.36 | 39.42 | 2.80 | 131.4 | 32.7 | 0.34 | 47.83 | 17.24 | 13.83 | 38.58 | 14.3 | 144.49 | -3.68 | -1.11 | 101.16 | 1.66 | 12.94 | -1.16 | -337.95 | -111.2 | 11.05 | -22.4 | -23.69 |
| 20Q1 (5) | 19.84 | -4.2 | -5.75 | 6.12 | 3.55 | -12.57 | 6.15 | 7.14 | -8.48 | 4.87 | 11.19 | -1.22 | 2.75 | -7.72 | -13.52 | 1.21 | -1.63 | -17.69 | 0.23 | -14.81 | -14.81 | 9.98 | 11.01 | 0.0 | 150.01 | -1.04 | 8.33 | 99.51 | -3.27 | -4.46 | 0.49 | 116.98 | 111.74 | 14.24 | 0 | -5.0 |
| 19Q4 (4) | 20.71 | -9.92 | 0.0 | 5.91 | -31.68 | 0.0 | 5.74 | -33.33 | 0.0 | 4.38 | -30.91 | 0.0 | 2.98 | -37.0 | 0.0 | 1.23 | -38.5 | 0.0 | 0.27 | -10.0 | 0.0 | 8.99 | -21.69 | 0.0 | 151.58 | -4.15 | 0.0 | 102.87 | 2.45 | 0.0 | -2.87 | -500.03 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 22.99 | 8.39 | 0.0 | 8.65 | 6.13 | 0.0 | 8.61 | -5.28 | 0.0 | 6.34 | -7.98 | 0.0 | 4.73 | -1.87 | 0.0 | 2.00 | -5.21 | 0.0 | 0.30 | 3.45 | 0.0 | 11.48 | -5.12 | 0.0 | 158.14 | 8.23 | 0.0 | 100.41 | 12.11 | 0.0 | -0.48 | -104.62 | 0.0 | 13.21 | -8.77 | 0.0 |
| 19Q2 (2) | 21.21 | 0.76 | 0.0 | 8.15 | 16.43 | 0.0 | 9.09 | 35.27 | 0.0 | 6.89 | 39.76 | 0.0 | 4.82 | 51.57 | 0.0 | 2.11 | 43.54 | 0.0 | 0.29 | 7.41 | 0.0 | 12.10 | 21.24 | 0.0 | 146.11 | 5.52 | 0.0 | 89.57 | -14.0 | 0.0 | 10.36 | 349.49 | 0.0 | 14.48 | -3.4 | 0.0 |
| 19Q1 (1) | 21.05 | 0.0 | 0.0 | 7.00 | 0.0 | 0.0 | 6.72 | 0.0 | 0.0 | 4.93 | 0.0 | 0.0 | 3.18 | 0.0 | 0.0 | 1.47 | 0.0 | 0.0 | 0.27 | 0.0 | 0.0 | 9.98 | 0.0 | 0.0 | 138.47 | 0.0 | 0.0 | 104.15 | 0.0 | 0.0 | -4.15 | 0.0 | 0.0 | 14.99 | 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) | 22.06 | -2.48 | 6.12 | -28.84 | 3.15 | 35.17 | 6.24 | -34.25 | 4.63 | -31.0 | 9.88 | -47.56 | 5.01 | -34.42 | 0.86 | -20.37 | 10.85 | -11.72 | 132.96 | -17.18 | 98.12 | 8.34 | 1.88 | -80.11 | 0.47 | -8.46 | 14.30 | 3.32 |
| 2022 (9) | 22.62 | -6.34 | 8.60 | -19.17 | 2.33 | -2.04 | 9.49 | -11.06 | 6.71 | -12.97 | 18.84 | -15.44 | 7.64 | -17.67 | 1.08 | -7.69 | 12.29 | -7.66 | 160.54 | 0.12 | 90.57 | -9.23 | 9.43 | 4231.88 | 0.52 | -29.07 | 13.84 | -3.82 |
| 2021 (8) | 24.15 | 4.59 | 10.64 | 8.57 | 2.38 | -5.89 | 10.67 | 9.32 | 7.71 | 4.33 | 22.28 | 8.52 | 9.28 | 5.1 | 1.17 | 1.74 | 13.31 | 5.38 | 160.34 | 21.64 | 99.78 | -0.58 | 0.22 | 0 | 0.73 | 0.22 | 14.39 | 8.2 |
| 2020 (7) | 23.09 | 7.3 | 9.80 | 31.37 | 2.53 | -2.95 | 9.76 | 28.76 | 7.39 | 30.34 | 20.53 | 30.6 | 8.83 | 28.34 | 1.15 | 0.88 | 12.63 | 18.37 | 131.82 | -13.04 | 100.37 | 2.02 | -0.37 | 0 | 0.73 | -8.77 | 13.30 | -4.73 |
| 2019 (6) | 21.52 | 3.76 | 7.46 | 15.12 | 2.60 | 18.82 | 7.58 | 7.52 | 5.67 | 15.01 | 15.72 | 14.58 | 6.88 | 8.18 | 1.14 | -5.0 | 10.67 | 9.89 | 151.58 | 11.16 | 98.38 | 6.97 | 1.60 | -80.13 | 0.80 | 99.56 | 13.96 | 3.64 |
| 2018 (5) | 20.74 | 3.75 | 6.48 | 21.35 | 2.19 | -1.8 | 7.05 | 34.03 | 4.93 | 31.12 | 13.72 | 37.06 | 6.36 | 34.46 | 1.20 | 2.56 | 9.71 | 24.17 | 136.36 | 6.97 | 91.97 | -9.5 | 8.06 | 0 | 0.40 | -10.49 | 13.47 | 6.57 |
| 2017 (4) | 19.99 | -3.94 | 5.34 | -19.58 | 2.23 | 10.74 | 5.26 | -30.42 | 3.76 | -31.51 | 10.01 | -34.87 | 4.73 | -32.91 | 1.17 | -5.65 | 7.82 | -20.29 | 127.48 | 0.97 | 101.62 | 15.65 | -1.62 | 0 | 0.45 | 0 | 12.64 | -2.17 |
| 2016 (3) | 20.81 | -6.09 | 6.64 | -17.41 | 2.01 | 17.06 | 7.56 | -10.11 | 5.49 | -14.08 | 15.37 | -20.45 | 7.05 | -19.24 | 1.24 | -6.77 | 9.81 | -5.31 | 126.26 | 0.85 | 87.87 | -8.04 | 12.13 | 172.83 | 0.00 | 0 | 12.92 | 1.1 |
| 2015 (2) | 22.16 | -1.42 | 8.04 | -1.95 | 1.72 | -1.94 | 8.41 | -9.47 | 6.39 | -6.58 | 19.32 | -12.7 | 8.73 | -11.19 | 1.33 | -5.0 | 10.36 | -7.91 | 125.20 | -4.55 | 95.55 | 8.25 | 4.45 | -62.02 | 0.00 | 0 | 12.78 | 9.98 |
| 2014 (1) | 22.48 | 0 | 8.20 | 0 | 1.76 | -2.97 | 9.29 | 0 | 6.84 | 0 | 22.13 | 0 | 9.83 | 0 | 1.40 | 2.19 | 11.25 | 8.7 | 131.17 | 0.5 | 88.27 | -4.15 | 11.71 | 48.17 | 0.00 | 0 | 11.62 | 2.38 |
