- 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) | 33.62 | 4.83 | 31.23 | 1.50 | -37.24 | -37.24 | 5.23 | -3.51 | 347.01 | 4.86 | 24.94 | 133.65 | 3.54 | 8.26 | 60.91 | 1.60 | 11.89 | 77.78 | 0.27 | -10.0 | -10.0 | 11.45 | 4.09 | 82.32 | 162.47 | -5.6 | -36.34 | 28.89 | -34.69 | -85.8 | 71.56 | 27.43 | 169.17 | 20.44 | 12.74 | 29.45 |
| 23Q3 (19) | 32.07 | 6.83 | 22.26 | 2.39 | -32.68 | 13.81 | 5.42 | 7.97 | 154.46 | 3.89 | 9.58 | 99.49 | 3.27 | 6.51 | 57.97 | 1.43 | 9.16 | 74.39 | 0.30 | 3.45 | 3.45 | 11.00 | 0.92 | 48.65 | 172.11 | -11.82 | -34.2 | 44.23 | -37.38 | -55.34 | 56.15 | 91.25 | 5683.85 | 18.13 | -4.83 | -6.11 |
| 23Q2 (18) | 30.02 | 10.73 | 23.13 | 3.55 | 1209.37 | 121.07 | 5.02 | 149.75 | 126.08 | 3.55 | 277.66 | 118.05 | 3.07 | 261.18 | 114.65 | 1.31 | 142.59 | 122.13 | 0.29 | 7.41 | -6.45 | 10.90 | 50.76 | 174.4 | 195.19 | -5.63 | -31.58 | 70.64 | 559.15 | -19.39 | 29.36 | -74.55 | 135.36 | 19.05 | 2.81 | -44.83 |
| 23Q1 (17) | 27.11 | 5.82 | 22.23 | -0.32 | -113.39 | 57.33 | 2.01 | 71.79 | 289.62 | 0.94 | -54.81 | 179.66 | 0.85 | -61.36 | 173.28 | 0.54 | -40.0 | 460.0 | 0.27 | -10.0 | -15.62 | 7.23 | 15.13 | 128.8 | 206.83 | -18.96 | 1.75 | -15.38 | -107.56 | -121.7 | 115.38 | 211.54 | 296.63 | 18.53 | 17.35 | 9.52 |
| 22Q4 (16) | 25.62 | -2.33 | 18.06 | 2.39 | 13.81 | 197.95 | 1.17 | -45.07 | 145.88 | 2.08 | 6.67 | 180.93 | 2.20 | 6.28 | 194.42 | 0.90 | 9.76 | 269.81 | 0.30 | 3.45 | 3.45 | 6.28 | -15.14 | 170.69 | 255.21 | -2.44 | 19.99 | 203.45 | 105.44 | 112.22 | -103.45 | -10755.17 | -2186.21 | 15.79 | -18.23 | -17.89 |
| 22Q3 (15) | 26.23 | 7.59 | 3.55 | 2.10 | 112.46 | 55.56 | 2.13 | 111.06 | 153.57 | 1.95 | 109.91 | 0 | 2.07 | 109.88 | 0 | 0.82 | 113.85 | 272.73 | 0.29 | -6.45 | -3.33 | 7.40 | 150.51 | 35.53 | 261.58 | -8.31 | 25.58 | 99.03 | 13.02 | -38.48 | 0.97 | -92.22 | 101.59 | 19.31 | -44.08 | -1.88 |
| 22Q2 (14) | 24.38 | 9.92 | -6.7 | -16.85 | -2146.67 | -986.84 | -19.25 | -1716.04 | -785.05 | -19.67 | -1566.95 | -1314.2 | -20.96 | -1706.9 | -1565.73 | -5.92 | -3846.67 | -945.71 | 0.31 | -3.13 | 3.33 | -14.65 | -563.61 | -294.3 | 285.29 | 40.35 | 42.47 | 87.62 | 23.57 | 29.08 | 12.48 | -57.12 | -61.16 | 34.53 | 104.08 | 76.26 |
| 22Q1 (13) | 22.18 | 2.21 | -12.09 | -0.75 | 69.26 | -132.75 | -1.06 | 58.43 | -144.35 | -1.18 | 54.09 | -206.31 | -1.16 | 50.21 | -216.0 | -0.15 | 71.7 | -127.27 | 0.32 | 10.34 | 6.67 | 3.16 | 36.21 | -53.67 | 203.27 | -4.43 | 6.61 | 70.91 | -26.03 | -25.36 | 29.09 | 486.67 | 598.18 | 16.92 | -12.01 | -8.44 |
| 21Q4 (12) | 21.70 | -14.33 | -17.43 | -2.44 | -280.74 | -201.67 | -2.55 | -403.57 | -159.44 | -2.57 | 0 | -174.28 | -2.33 | 0 | -175.65 | -0.53 | -340.91 | -143.09 | 0.29 | -3.33 | 0.0 | 2.32 | -57.51 | -73.96 | 212.70 | 2.12 | 3.73 | 95.87 | -40.45 | 71.73 | 4.96 | 108.13 | -88.77 | 19.23 | -2.29 | -0.26 |
| 21Q3 (11) | 25.33 | -3.06 | -10.53 | 1.35 | -28.95 | -76.76 | 0.84 | -70.11 | -83.72 | 0.00 | -100.0 | -100.0 | 0.00 | -100.0 | -100.0 | 0.22 | -68.57 | -83.46 | 0.30 | 0.0 | -3.23 | 5.46 | -27.59 | -44.0 | 208.29 | 4.01 | 1.07 | 160.98 | 137.14 | 43.09 | -60.98 | -289.86 | -387.8 | 19.68 | 0.46 | 9.03 |
| 21Q2 (10) | 26.13 | 3.57 | -6.88 | 1.90 | -17.03 | -7.32 | 2.81 | 17.57 | 76.73 | 1.62 | 45.95 | 128.17 | 1.43 | 43.0 | 210.87 | 0.70 | 27.27 | 70.73 | 0.30 | 0.0 | 30.43 | 7.54 | 10.56 | -7.94 | 200.25 | 5.02 | 0.52 | 67.88 | -28.54 | -47.63 | 32.12 | 670.8 | 208.39 | 19.59 | 6.01 | 0 |
| 21Q1 (9) | 25.23 | -4.0 | -8.59 | 2.29 | -4.58 | 4480.0 | 2.39 | -44.29 | 309.65 | 1.11 | -67.92 | 157.81 | 1.00 | -67.53 | 175.76 | 0.55 | -55.28 | 339.13 | 0.30 | 3.45 | 20.0 | 6.82 | -23.46 | 37.78 | 190.67 | -7.02 | 7.75 | 95.00 | 70.17 | 2142.5 | 4.17 | -90.57 | -96.02 | 18.48 | -4.15 | -6.05 |
| 20Q4 (8) | 26.28 | -7.17 | -4.16 | 2.40 | -58.69 | 187.27 | 4.29 | -16.86 | 263.74 | 3.46 | -2.54 | 215.33 | 3.08 | -6.95 | 244.6 | 1.23 | -7.52 | 327.78 | 0.29 | -6.45 | 7.41 | 8.91 | -8.62 | 207.24 | 205.06 | -0.5 | 11.22 | 55.83 | -50.38 | -46.69 | 44.17 | 453.4 | 1036.5 | 19.28 | 6.81 | -2.03 |
| 20Q3 (7) | 28.31 | 0.89 | -5.63 | 5.81 | 183.41 | 11.73 | 5.16 | 224.53 | -13.42 | 3.55 | 400.0 | -20.05 | 3.31 | 619.57 | -1.19 | 1.33 | 224.39 | -14.74 | 0.31 | 34.78 | 0.0 | 9.75 | 19.05 | -2.11 | 206.09 | 3.45 | 51.39 | 112.50 | -13.21 | 29.28 | -12.50 | 57.81 | -199.24 | 18.05 | 0 | 2.79 |
| 20Q2 (6) | 28.06 | 1.67 | -1.06 | 2.05 | 4000.0 | -42.25 | 1.59 | 239.47 | -63.36 | 0.71 | 136.98 | -78.81 | 0.46 | 134.85 | -80.67 | 0.41 | 278.26 | -64.66 | 0.23 | -8.0 | -23.33 | 8.19 | 65.45 | -3.31 | 199.22 | 12.59 | 34.97 | 129.63 | 2887.04 | 58.44 | -29.63 | -128.31 | -262.96 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 27.60 | 0.66 | 2.72 | 0.05 | 101.82 | -98.22 | -1.14 | 56.49 | -134.86 | -1.92 | 36.0 | -169.82 | -1.32 | 38.03 | -168.04 | -0.23 | 57.41 | -122.12 | 0.25 | -7.41 | -21.88 | 4.95 | 70.69 | -32.19 | 176.95 | -4.02 | 33.18 | -4.65 | -104.44 | -105.42 | 104.65 | 2318.6 | 637.79 | 19.67 | -0.05 | 18.57 |
| 19Q4 (4) | 27.42 | -8.6 | 0.0 | -2.75 | -152.88 | 0.0 | -2.62 | -143.96 | 0.0 | -3.00 | -167.57 | 0.0 | -2.13 | -163.58 | 0.0 | -0.54 | -134.62 | 0.0 | 0.27 | -12.9 | 0.0 | 2.90 | -70.88 | 0.0 | 184.37 | 35.44 | 0.0 | 104.72 | 20.33 | 0.0 | -4.72 | -137.45 | 0.0 | 19.68 | 12.07 | 0.0 |
| 19Q3 (3) | 30.00 | 5.78 | 0.0 | 5.20 | 46.48 | 0.0 | 5.96 | 37.33 | 0.0 | 4.44 | 32.54 | 0.0 | 3.35 | 40.76 | 0.0 | 1.56 | 34.48 | 0.0 | 0.31 | 3.33 | 0.0 | 9.96 | 17.59 | 0.0 | 136.13 | -7.77 | 0.0 | 87.02 | 6.36 | 0.0 | 12.60 | -30.73 | 0.0 | 17.56 | 1.5 | 0.0 |
| 19Q2 (2) | 28.36 | 5.55 | 0.0 | 3.55 | 26.33 | 0.0 | 4.34 | 32.72 | 0.0 | 3.35 | 21.82 | 0.0 | 2.38 | 22.68 | 0.0 | 1.16 | 11.54 | 0.0 | 0.30 | -6.25 | 0.0 | 8.47 | 16.03 | 0.0 | 147.60 | 11.09 | 0.0 | 81.82 | -4.66 | 0.0 | 18.18 | 28.18 | 0.0 | 17.30 | 4.28 | 0.0 |
| 19Q1 (1) | 26.87 | 0.0 | 0.0 | 2.81 | 0.0 | 0.0 | 3.27 | 0.0 | 0.0 | 2.75 | 0.0 | 0.0 | 1.94 | 0.0 | 0.0 | 1.04 | 0.0 | 0.0 | 0.32 | 0.0 | 0.0 | 7.30 | 0.0 | 0.0 | 132.87 | 0.0 | 0.0 | 85.82 | 0.0 | 0.0 | 14.18 | 0.0 | 0.0 | 16.59 | 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) | 30.69 | 24.96 | 1.81 | 0 | 4.36 | 19.48 | 4.43 | 0 | 3.30 | 0 | 11.45 | 0 | 4.90 | 0 | 1.14 | -7.32 | 10.15 | 2800.0 | 162.47 | -36.34 | 40.76 | -47.54 | 59.24 | 165.68 | 4.98 | 12.77 | 19.01 | -12.6 |
| 2022 (9) | 24.56 | -0.24 | -3.45 | 0 | 3.65 | 0.67 | -4.44 | 0 | -4.40 | 0 | -18.05 | 0 | -4.39 | 0 | 1.23 | 4.24 | 0.35 | -93.72 | 255.21 | 19.99 | 77.70 | -13.44 | 22.30 | 106.54 | 4.42 | 0.02 | 21.75 | 13.05 |
| 2021 (8) | 24.62 | -10.54 | 0.81 | -70.76 | 3.63 | -12.32 | 0.91 | -67.15 | 0.07 | -95.91 | 0.24 | -95.37 | 0.94 | -64.66 | 1.18 | 14.56 | 5.57 | -31.32 | 212.70 | 3.73 | 89.77 | -10.23 | 10.80 | 0 | 4.41 | -1.86 | 19.24 | -1.13 |
| 2020 (7) | 27.52 | -2.34 | 2.77 | 20.43 | 4.14 | 19.77 | 2.77 | -2.46 | 1.71 | -13.2 | 5.18 | -11.0 | 2.66 | -15.29 | 1.03 | -13.45 | 8.11 | 12.02 | 205.06 | 11.22 | 100.00 | 23.79 | -0.22 | 0 | 4.50 | -6.81 | 19.46 | 9.63 |
| 2019 (6) | 28.18 | 2.96 | 2.30 | -34.29 | 3.45 | 140.3 | 2.84 | -36.75 | 1.97 | -43.06 | 5.82 | -43.22 | 3.14 | -37.7 | 1.19 | -13.14 | 7.24 | 14.38 | 184.37 | 61.09 | 80.79 | 3.63 | 19.01 | -13.76 | 4.83 | -24.86 | 17.75 | 0.74 |
| 2018 (5) | 27.37 | -3.42 | 3.50 | -35.9 | 1.44 | 6.82 | 4.49 | -18.51 | 3.46 | -12.41 | 10.25 | -14.8 | 5.04 | -10.48 | 1.37 | 2.24 | 6.33 | -14.8 | 114.45 | -2.8 | 77.96 | -21.16 | 22.04 | 2077.78 | 6.42 | 0 | 17.62 | 7.57 |
| 2017 (4) | 28.34 | -3.31 | 5.46 | 81.4 | 1.35 | -27.64 | 5.51 | 0 | 3.95 | 0 | 12.03 | 0 | 5.63 | 0 | 1.34 | 1.52 | 7.43 | 519.17 | 117.75 | -13.54 | 98.89 | 0 | 1.01 | -99.67 | 0.00 | 0 | 16.38 | -0.12 |
| 2016 (3) | 29.31 | 6.04 | 3.01 | 10.66 | 1.86 | 21.25 | -1.44 | 0 | -2.50 | 0 | -7.44 | 0 | -2.93 | 0 | 1.32 | 8.2 | 1.20 | -81.1 | 136.19 | 14.67 | -208.60 | 0 | 308.60 | 1024.52 | 0.00 | 0 | 16.40 | 3.93 |
| 2015 (2) | 27.64 | 4.3 | 2.72 | 37.37 | 1.53 | 0.52 | 3.75 | 148.34 | 2.54 | 221.52 | 7.13 | 207.33 | 3.69 | 161.7 | 1.22 | 1.67 | 6.35 | 57.96 | 118.77 | -16.24 | 72.56 | -44.48 | 27.44 | 0 | 0.00 | 0 | 15.78 | 4.16 |
| 2014 (1) | 26.50 | 0 | 1.98 | 0 | 1.53 | -7.99 | 1.51 | 0 | 0.79 | 0 | 2.32 | 0 | 1.41 | 0 | 1.20 | 1.69 | 4.02 | -70.46 | 141.80 | -6.41 | 130.69 | 2255.91 | -30.69 | 0 | 0.00 | 0 | 15.15 | -6.94 |
