- 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 | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 21Q3 (20) | 12.47 | -23.87 | -27.29 | 3.11 | -51.63 | -68.36 | 3.35 | -43.7 | -75.04 | 3.42 | -40.0 | -69.89 | 1.40 | -38.05 | -79.01 | 0.67 | -34.95 | -76.33 | 0.17 | 6.25 | -29.17 | 11.57 | -20.1 | -39.71 | 148.77 | 0.03 | 7.19 | 91.30 | -15.07 | 24.51 | 8.70 | 215.94 | -67.39 | 0.00 | 0 | 0 |
| 21Q2 (19) | 16.38 | -25.38 | 19.13 | 6.43 | -49.09 | 24.61 | 5.95 | -46.35 | 54.15 | 5.70 | -45.4 | 28.09 | 2.26 | -50.55 | 11.33 | 1.03 | -49.26 | 11.96 | 0.16 | -15.79 | -11.11 | 14.48 | -21.65 | 29.52 | 148.72 | 9.33 | -2.52 | 107.50 | -6.08 | -20.14 | -7.50 | 48.12 | 78.33 | 0.00 | 0 | 0 |
| 21Q1 (18) | 21.95 | 15.89 | 17.69 | 12.63 | 23.82 | 38.49 | 11.09 | -19.75 | 67.78 | 10.44 | -12.42 | 100.0 | 4.57 | -19.12 | 130.81 | 2.03 | -17.81 | 120.65 | 0.19 | -5.0 | 26.67 | 18.48 | -10.94 | 19.15 | 136.03 | -0.53 | -9.92 | 114.46 | 55.03 | -16.36 | -14.46 | -155.25 | 60.76 | 0.00 | 0 | 0 |
| 20Q4 (17) | 18.94 | 10.44 | 43.81 | 10.20 | 3.76 | 50.66 | 13.82 | 2.98 | 189.73 | 11.92 | 4.93 | 170.29 | 5.65 | -15.29 | 150.0 | 2.47 | -12.72 | 142.16 | 0.20 | -16.67 | -4.76 | 20.75 | 8.13 | 86.77 | 136.76 | -1.46 | -5.61 | 73.83 | 0.68 | -48.89 | 26.17 | -1.87 | 162.8 | 0.00 | 0 | -100.0 |
| 20Q3 (16) | 17.15 | 24.73 | 5.34 | 9.83 | 90.5 | 10.33 | 13.42 | 247.67 | 199.55 | 11.36 | 155.28 | 219.1 | 6.67 | 228.57 | 228.57 | 2.83 | 207.61 | 210.99 | 0.24 | 33.33 | 9.09 | 19.19 | 71.65 | 83.11 | 138.79 | -9.03 | -9.28 | 73.33 | -45.52 | -62.84 | 26.67 | 177.04 | 127.39 | 0.00 | 0 | -100.0 |
| 20Q2 (15) | 13.75 | -26.27 | -19.35 | 5.16 | -43.42 | -43.36 | 3.86 | -41.6 | -43.48 | 4.45 | -14.75 | -23.28 | 2.03 | 2.53 | -30.72 | 0.92 | 0.0 | -29.77 | 0.18 | 20.0 | -10.0 | 11.18 | -27.92 | -12.11 | 152.57 | 1.03 | -4.16 | 134.62 | -1.63 | 1.45 | -34.62 | 6.04 | -5.88 | 0.00 | 0 | -100.0 |
| 20Q1 (14) | 18.65 | 41.61 | 41.72 | 9.12 | 34.71 | 185.0 | 6.61 | 38.57 | -11.87 | 5.22 | 18.37 | -13.86 | 1.98 | -12.39 | -10.81 | 0.92 | -9.8 | -13.21 | 0.15 | -28.57 | -6.25 | 15.51 | 39.6 | 0.39 | 151.01 | 4.22 | 12.44 | 136.84 | -5.26 | 211.7 | -36.84 | 11.58 | -162.94 | 0.00 | -100.0 | -100.0 |
| 19Q4 (13) | 13.17 | -19.1 | -22.02 | 6.77 | -24.02 | 9.9 | 4.77 | 6.47 | -28.59 | 4.41 | 23.88 | -29.1 | 2.26 | 11.33 | -14.39 | 1.02 | 12.09 | -19.05 | 0.21 | -4.55 | 10.53 | 11.11 | 6.01 | -18.85 | 144.89 | -5.29 | 7.46 | 144.44 | -26.81 | 55.85 | -41.67 | 57.21 | -669.44 | 7.91 | 5.47 | -18.95 |
| 19Q3 (12) | 16.28 | -4.52 | -14.63 | 8.91 | -2.2 | -17.96 | 4.48 | -34.41 | -39.54 | 3.56 | -38.62 | -37.54 | 2.03 | -30.72 | -35.76 | 0.91 | -30.53 | -41.29 | 0.22 | 10.0 | -12.0 | 10.48 | -17.61 | -21.26 | 152.98 | -3.91 | 24.17 | 197.37 | 48.74 | 33.11 | -97.37 | -197.83 | -109.16 | 7.50 | -6.25 | -7.18 |
| 19Q2 (11) | 17.05 | 29.56 | 1.31 | 9.11 | 184.69 | 20.98 | 6.83 | -8.93 | -3.94 | 5.80 | -4.29 | 9.64 | 2.93 | 31.98 | 20.58 | 1.31 | 23.58 | 2.34 | 0.20 | 25.0 | -9.09 | 12.72 | -17.67 | -7.89 | 159.20 | 18.54 | 35.4 | 132.69 | 202.24 | 24.73 | -32.69 | -155.85 | -412.18 | 8.00 | -19.44 | -15.61 |
| 19Q1 (10) | 13.16 | -22.08 | -28.44 | 3.20 | -48.05 | -58.87 | 7.50 | 12.28 | -23.47 | 6.06 | -2.57 | -28.45 | 2.22 | -15.91 | -29.3 | 1.06 | -15.87 | -36.53 | 0.16 | -15.79 | -11.11 | 15.45 | 12.86 | -11.87 | 134.30 | -0.39 | 32.89 | 43.90 | -52.63 | -44.6 | 58.54 | 700.0 | 182.04 | 9.93 | 1.74 | -8.06 |
| 18Q4 (9) | 16.89 | -11.43 | 0 | 6.16 | -43.28 | 0 | 6.68 | -9.85 | 0 | 6.22 | 9.12 | 0 | 2.64 | -16.46 | 0 | 1.26 | -18.71 | 0 | 0.19 | -24.0 | 0 | 13.69 | 2.85 | 0 | 134.83 | 9.44 | 0 | 92.68 | -37.49 | 0 | 7.32 | 115.72 | 0 | 9.76 | 20.79 | 0 |
| 18Q3 (8) | 19.07 | 13.31 | 0 | 10.86 | 44.22 | 0 | 7.41 | 4.22 | 0 | 5.70 | 7.75 | 0 | 3.16 | 30.04 | 0 | 1.55 | 21.09 | 0 | 0.25 | 13.64 | 0 | 13.31 | -3.62 | 0 | 123.20 | 4.78 | 0 | 148.28 | 39.38 | 0 | -46.55 | -629.31 | 0 | 8.08 | -14.77 | 0 |
| 18Q2 (7) | 16.83 | -8.48 | 0 | 7.53 | -3.21 | 0 | 7.11 | -27.45 | 0 | 5.29 | -37.54 | 0 | 2.43 | -22.61 | 0 | 1.28 | -23.35 | 0 | 0.22 | 22.22 | 0 | 13.81 | -21.22 | 0 | 117.58 | 16.35 | 0 | 106.38 | 34.25 | 0 | -6.38 | -130.75 | 0 | 9.48 | -12.22 | 0 |
| 18Q1 (6) | 18.39 | 0 | 0 | 7.78 | 0 | 0 | 9.80 | 0 | 0 | 8.47 | 0 | 0 | 3.14 | 0 | 0 | 1.67 | 0 | 0 | 0.18 | 0 | 0 | 17.53 | 0 | 0 | 101.06 | 0 | 0 | 79.25 | 0 | 0 | 20.75 | 0 | 0 | 10.80 | 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 | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2020 (10) | 17.13 | 13.67 | 8.70 | 18.85 | 6.17 | 10.88 | 9.96 | 73.52 | 8.69 | 79.55 | 15.89 | 68.68 | 7.05 | 59.86 | 0.76 | -6.17 | 17.02 | 39.85 | 136.76 | -5.61 | 87.59 | -31.33 | 12.76 | 0 | 0.50 | 32.45 | 0.00 | 0 |
| 2019 (9) | 15.07 | -15.53 | 7.32 | -11.38 | 5.57 | -7.17 | 5.74 | -24.97 | 4.84 | -23.05 | 9.42 | -16.56 | 4.41 | -21.11 | 0.81 | -1.22 | 12.17 | -15.54 | 144.89 | 7.46 | 127.54 | 18.1 | -27.54 | 0 | 0.38 | 119.74 | 8.20 | -12.77 |
| 2018 (8) | 17.84 | -5.86 | 8.26 | -12.22 | 6.00 | 3.06 | 7.65 | -9.14 | 6.29 | -9.76 | 11.29 | -9.75 | 5.59 | -16.57 | 0.82 | -7.87 | 14.41 | -3.48 | 134.83 | 30.69 | 108.00 | -3.49 | -8.00 | 0 | 0.17 | 0 | 9.40 | 4.56 |
| 2017 (7) | 18.95 | 3.95 | 9.41 | 5.97 | 5.82 | -22.55 | 8.42 | 35.37 | 6.97 | 40.52 | 12.51 | 52.19 | 6.70 | 43.47 | 0.89 | 3.49 | 14.93 | 4.33 | 103.17 | 3.53 | 111.90 | -21.61 | -11.90 | 0 | 0.00 | 0 | 8.99 | 1.81 |
| 2016 (6) | 18.23 | -11.72 | 8.88 | -10.21 | 7.52 | -10.03 | 6.22 | -22.64 | 4.96 | -20.0 | 8.22 | -8.87 | 4.67 | -7.34 | 0.86 | 21.13 | 14.31 | -18.46 | 99.65 | 18.97 | 142.75 | 16.21 | -42.75 | 0 | 0.00 | 0 | 8.83 | -8.97 |
| 2015 (5) | 20.65 | -15.61 | 9.89 | -32.72 | 8.35 | 11.44 | 8.04 | -42.41 | 6.20 | -46.64 | 9.02 | -46.85 | 5.04 | -42.47 | 0.71 | 4.41 | 17.55 | -23.66 | 83.76 | -34.62 | 122.84 | 16.57 | -22.84 | 0 | 0.00 | 0 | 9.70 | 1.46 |
| 2014 (4) | 24.47 | -7.42 | 14.70 | 2.08 | 7.50 | 15.56 | 13.96 | -9.35 | 11.62 | -18.74 | 16.97 | -7.82 | 8.76 | -14.37 | 0.68 | 3.03 | 22.99 | -2.21 | 128.12 | 28.79 | 105.38 | 12.9 | -5.38 | 0 | 0.00 | 0 | 9.56 | -12.37 |
| 2013 (3) | 26.43 | 0 | 14.40 | 0 | 6.49 | 0 | 15.40 | 0 | 14.30 | 0 | 18.41 | 0 | 10.23 | 0 | 0.66 | 0 | 23.51 | 0 | 99.48 | 0 | 93.33 | 0 | 6.67 | 0 | 0.00 | 0 | 10.91 | 0 |
