- 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) | 15.35 | 18.81 | -10.44 | 4.99 | 248.95 | -6.9 | 3.28 | -19.01 | 34.43 | 2.84 | 80.89 | 70.06 | 0.69 | 81.58 | 68.29 | 0.47 | 88.0 | 74.07 | 0.16 | 6.67 | 6.67 | 18.98 | -3.95 | 12.57 | 50.15 | -1.57 | -20.75 | 153.19 | 336.6 | -30.02 | -53.19 | -181.94 | 55.27 | 30.47 | -2.65 | -11.06 |
| 23Q3 (19) | 12.92 | -10.22 | -40.6 | 1.43 | -27.78 | -86.95 | 4.05 | -48.08 | -78.14 | 1.57 | -60.45 | -87.9 | 0.38 | -56.32 | -90.18 | 0.25 | -55.36 | -89.04 | 0.15 | 7.14 | -11.76 | 19.76 | -20.29 | -34.79 | 50.95 | -15.77 | -20.58 | 35.09 | 36.3 | -40.62 | 64.91 | -12.58 | 58.67 | 31.30 | -7.04 | 16.88 |
| 23Q2 (18) | 14.39 | -16.19 | -15.2 | 1.98 | -60.87 | -76.06 | 7.80 | 57.89 | -49.09 | 3.97 | 185.61 | -65.08 | 0.87 | 200.0 | -75.07 | 0.56 | 180.0 | -72.0 | 0.14 | 7.69 | -17.65 | 24.79 | 11.02 | -6.13 | 60.49 | -6.12 | -22.58 | 25.74 | -75.06 | -52.46 | 74.26 | 2401.98 | 60.7 | 33.67 | -2.55 | 15.27 |
| 23Q1 (17) | 17.17 | 0.18 | -15.17 | 5.06 | -5.6 | -53.71 | 4.94 | 102.46 | -68.11 | 1.39 | -16.77 | -87.54 | 0.29 | -29.27 | -90.61 | 0.20 | -25.93 | -89.19 | 0.13 | -13.33 | -18.75 | 22.33 | 32.44 | -16.08 | 64.43 | 1.82 | -12.64 | 103.23 | -52.85 | 46.33 | -3.23 | 97.29 | -110.95 | 34.55 | 0.85 | 20.22 |
| 22Q4 (16) | 17.14 | -21.2 | -21.38 | 5.36 | -51.09 | -60.18 | 2.44 | -86.83 | -80.86 | 1.67 | -87.13 | -81.95 | 0.41 | -89.41 | -85.2 | 0.27 | -88.16 | -84.39 | 0.15 | -11.76 | -21.05 | 16.86 | -44.36 | -24.93 | 63.28 | -1.36 | -0.94 | 218.92 | 270.48 | 107.97 | -118.92 | -390.69 | -1985.65 | 34.26 | 27.93 | 25.49 |
| 22Q3 (15) | 21.75 | 28.17 | -8.92 | 10.96 | 32.53 | -31.54 | 18.53 | 20.95 | 5.05 | 12.98 | 14.16 | 1.33 | 3.87 | 10.89 | -3.25 | 2.28 | 14.0 | -9.52 | 0.17 | 0.0 | -15.0 | 30.30 | 14.73 | 12.64 | 64.15 | -17.89 | 10.6 | 59.09 | 9.12 | -34.86 | 40.91 | -11.47 | 340.45 | 26.78 | -8.32 | 6.14 |
| 22Q2 (14) | 16.97 | -16.16 | -32.28 | 8.27 | -24.34 | -51.83 | 15.32 | -1.1 | 2.61 | 11.37 | 1.88 | 2.25 | 3.49 | 12.94 | -1.69 | 2.00 | 8.11 | -11.11 | 0.17 | 6.25 | -15.0 | 26.41 | -0.75 | 10.83 | 78.13 | 5.94 | 28.31 | 54.15 | -23.24 | -52.87 | 46.21 | 56.87 | 409.94 | 29.21 | 1.64 | 19.37 |
| 22Q1 (13) | 20.24 | -7.16 | -12.98 | 10.93 | -18.8 | -27.95 | 15.49 | 21.49 | 3.89 | 11.16 | 20.65 | 4.3 | 3.09 | 11.55 | -4.92 | 1.85 | 6.94 | -15.14 | 0.16 | -15.79 | -20.0 | 26.61 | 18.48 | 11.71 | 73.75 | 15.45 | 30.83 | 70.54 | -32.98 | -30.53 | 29.46 | 616.64 | 1631.78 | 28.74 | 5.27 | 16.73 |
| 21Q4 (12) | 21.80 | -8.71 | -2.98 | 13.46 | -15.93 | -4.06 | 12.75 | -27.72 | 5.72 | 9.25 | -27.79 | 13.64 | 2.77 | -30.75 | 20.43 | 1.73 | -31.35 | 6.79 | 0.19 | -5.0 | -5.0 | 22.46 | -16.51 | 5.05 | 63.88 | 10.14 | 48.8 | 105.26 | 16.04 | -9.51 | -5.70 | -161.39 | 65.08 | 27.30 | 8.2 | 7.52 |
| 21Q3 (11) | 23.88 | -4.71 | 6.23 | 16.01 | -6.76 | 8.62 | 17.64 | 18.15 | 53.66 | 12.81 | 15.2 | 61.13 | 4.00 | 12.68 | 72.41 | 2.52 | 12.0 | 57.5 | 0.20 | 0.0 | 0.0 | 26.90 | 12.88 | 29.7 | 58.00 | -4.75 | 40.27 | 90.71 | -21.06 | -29.53 | 9.29 | 162.3 | 132.95 | 25.23 | 3.11 | 5.79 |
| 21Q2 (10) | 25.06 | 7.74 | -1.49 | 17.17 | 13.18 | 1.84 | 14.93 | 0.13 | -3.18 | 11.12 | 3.93 | 2.02 | 3.55 | 9.23 | 8.56 | 2.25 | 3.21 | 0.0 | 0.20 | 0.0 | -4.76 | 23.83 | 0.04 | -1.73 | 60.89 | 8.02 | 21.51 | 114.91 | 13.17 | 5.06 | -14.91 | -675.27 | -59.03 | 24.47 | -0.61 | 0 |
| 21Q1 (9) | 23.26 | 3.52 | 10.45 | 15.17 | 8.13 | 40.59 | 14.91 | 23.63 | 9.63 | 10.70 | 31.45 | 7.54 | 3.25 | 41.3 | 42.54 | 2.18 | 34.57 | 33.74 | 0.20 | 0.0 | 25.0 | 23.82 | 11.41 | -5.59 | 56.37 | 31.31 | 32.79 | 101.54 | -12.71 | 27.84 | -1.92 | 88.22 | -109.35 | 24.62 | -3.03 | 0 |
| 20Q4 (8) | 22.47 | -0.04 | -3.35 | 14.03 | -4.82 | 5.57 | 12.06 | 5.05 | 18.82 | 8.14 | 2.39 | -6.44 | 2.30 | -0.86 | 8.49 | 1.62 | 1.25 | 6.58 | 0.20 | 0.0 | 17.65 | 21.38 | 3.09 | 2.2 | 42.93 | 3.82 | 9.71 | 116.33 | -9.63 | -11.16 | -16.33 | 42.09 | 47.22 | 25.39 | 6.46 | 0 |
| 20Q3 (7) | 22.48 | -11.64 | -6.95 | 14.74 | -12.57 | 3.88 | 11.48 | -25.55 | -30.0 | 7.95 | -27.06 | -31.47 | 2.32 | -29.05 | -25.4 | 1.60 | -28.89 | -24.17 | 0.20 | -4.76 | 11.11 | 20.74 | -14.47 | -21.05 | 41.35 | -17.48 | -3.12 | 128.72 | 17.69 | 48.95 | -28.19 | -200.71 | -307.59 | 23.85 | 0 | -8.59 |
| 20Q2 (6) | 25.44 | 20.8 | 10.27 | 16.86 | 56.26 | 22.09 | 15.42 | 13.38 | -8.81 | 10.90 | 9.55 | -14.38 | 3.27 | 43.42 | 1.24 | 2.25 | 38.04 | 2.74 | 0.21 | 31.25 | 23.53 | 24.25 | -3.88 | -11.11 | 50.11 | 18.04 | -8.76 | 109.38 | 37.7 | 33.98 | -9.38 | -145.57 | -151.04 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 21.06 | -9.42 | 11.55 | 10.79 | -18.81 | 21.24 | 13.60 | 33.99 | 38.35 | 9.95 | 14.37 | 59.97 | 2.28 | 7.55 | 48.05 | 1.63 | 7.24 | 49.54 | 0.16 | -5.88 | -5.88 | 25.23 | 20.6 | 29.25 | 42.45 | 8.48 | -0.24 | 79.43 | -39.34 | -11.95 | 20.57 | 166.5 | 110.12 | 0.00 | 0 | -100.0 |
| 19Q4 (4) | 23.25 | -3.77 | 0.0 | 13.29 | -6.34 | 0.0 | 10.15 | -38.11 | 0.0 | 8.70 | -25.0 | 0.0 | 2.12 | -31.83 | 0.0 | 1.52 | -27.96 | 0.0 | 0.17 | -5.56 | 0.0 | 20.92 | -20.37 | 0.0 | 39.13 | -8.32 | 0.0 | 130.94 | 51.51 | 0.0 | -30.94 | -327.8 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 24.16 | 4.72 | 0.0 | 14.19 | 2.75 | 0.0 | 16.40 | -3.02 | 0.0 | 11.60 | -8.88 | 0.0 | 3.11 | -3.72 | 0.0 | 2.11 | -3.65 | 0.0 | 0.18 | 5.88 | 0.0 | 26.27 | -3.7 | 0.0 | 42.68 | -22.29 | 0.0 | 86.42 | 5.86 | 0.0 | 13.58 | -26.06 | 0.0 | 26.09 | -4.4 | 0.0 |
| 19Q2 (2) | 23.07 | 22.19 | 0.0 | 13.81 | 55.17 | 0.0 | 16.91 | 72.02 | 0.0 | 12.73 | 104.66 | 0.0 | 3.23 | 109.74 | 0.0 | 2.19 | 100.92 | 0.0 | 0.17 | 0.0 | 0.0 | 27.28 | 39.75 | 0.0 | 54.92 | 29.07 | 0.0 | 81.63 | -9.51 | 0.0 | 18.37 | 87.61 | 0.0 | 27.29 | 4.84 | 0.0 |
| 19Q1 (1) | 18.88 | 0.0 | 0.0 | 8.90 | 0.0 | 0.0 | 9.83 | 0.0 | 0.0 | 6.22 | 0.0 | 0.0 | 1.54 | 0.0 | 0.0 | 1.09 | 0.0 | 0.0 | 0.17 | 0.0 | 0.0 | 19.52 | 0.0 | 0.0 | 42.55 | 0.0 | 0.0 | 90.21 | 0.0 | 0.0 | 9.79 | 0.0 | 0.0 | 26.03 | 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) | 14.92 | -21.76 | 3.36 | -62.58 | 16.19 | 36.77 | 4.95 | -62.84 | 2.44 | -74.5 | 2.16 | -79.51 | 1.44 | -77.88 | 0.56 | -16.42 | 21.36 | -15.71 | 50.15 | -20.75 | 67.79 | 0.68 | 32.21 | -1.07 | 0.42 | 10.98 | 32.41 | 9.53 |
| 2022 (9) | 19.07 | -18.92 | 8.98 | -41.95 | 11.84 | 30.07 | 13.32 | -11.61 | 9.57 | -12.84 | 10.54 | -20.87 | 6.51 | -25.26 | 0.67 | -15.19 | 25.34 | 4.37 | 63.28 | -0.94 | 67.33 | -34.36 | 32.56 | 0 | 0.38 | 443.25 | 29.59 | 16.5 |
| 2021 (8) | 23.52 | 2.35 | 15.47 | 8.11 | 9.10 | -4.56 | 15.07 | 14.86 | 10.98 | 19.35 | 13.32 | 33.73 | 8.71 | 22.68 | 0.79 | 2.6 | 24.28 | 6.63 | 63.88 | 48.8 | 102.58 | -5.85 | -2.58 | 0 | 0.07 | -2.42 | 25.40 | 2.13 |
| 2020 (7) | 22.98 | 2.91 | 14.31 | 14.11 | 9.53 | -4.64 | 13.12 | -1.94 | 9.20 | -6.5 | 9.96 | 1.22 | 7.10 | 1.28 | 0.77 | 8.45 | 22.77 | -3.23 | 42.93 | 9.71 | 108.96 | 16.21 | -8.96 | 0 | 0.07 | 13.79 | 24.87 | -6.33 |
| 2019 (6) | 22.33 | -12.4 | 12.54 | -24.91 | 10.00 | 44.32 | 13.38 | -33.57 | 9.84 | -31.67 | 9.84 | -43.51 | 7.01 | -43.1 | 0.71 | -16.47 | 23.53 | -13.4 | 39.13 | -10.48 | 93.76 | 13.03 | 6.24 | -63.4 | 0.06 | 77.35 | 26.55 | 12.03 |
| 2018 (5) | 25.49 | -9.45 | 16.70 | -19.87 | 6.93 | 21.05 | 20.14 | 4.3 | 14.40 | -4.19 | 17.42 | -13.38 | 12.32 | -11.43 | 0.85 | -8.6 | 27.17 | 8.2 | 43.71 | 10.21 | 82.95 | -23.13 | 17.05 | 0 | 0.04 | -45.19 | 23.70 | 14.05 |
| 2017 (4) | 28.15 | -5.76 | 20.84 | -6.71 | 5.72 | 8.97 | 19.31 | -17.83 | 15.03 | -17.51 | 20.11 | -35.32 | 13.91 | -31.04 | 0.93 | -16.22 | 25.11 | -12.9 | 39.66 | -19.96 | 107.91 | 13.56 | -7.91 | 0 | 0.07 | 0 | 20.78 | 8.8 |
| 2016 (3) | 29.87 | -4.11 | 22.34 | -4.04 | 5.25 | -19.2 | 23.50 | -6.63 | 18.22 | -7.14 | 31.09 | -16.96 | 20.17 | -13.73 | 1.11 | -6.72 | 28.83 | -9.31 | 49.55 | -17.44 | 95.02 | 2.7 | 4.98 | -33.9 | 0.00 | 0 | 19.10 | -4.26 |
| 2015 (2) | 31.15 | 34.09 | 23.28 | 44.51 | 6.50 | -18.4 | 25.17 | 43.66 | 19.62 | 38.07 | 37.44 | 11.13 | 23.38 | 21.52 | 1.19 | -11.19 | 31.79 | 20.6 | 60.02 | -0.84 | 92.53 | 0.63 | 7.53 | -6.51 | 0.00 | 0 | 19.95 | 7.09 |
| 2014 (1) | 23.23 | 0 | 16.11 | 0 | 7.96 | -22.98 | 17.52 | 0 | 14.21 | 0 | 33.69 | 0 | 19.24 | 0 | 1.34 | 12.61 | 26.36 | 10.02 | 60.53 | -38.09 | 91.95 | -8.59 | 8.05 | 0 | 0.00 | 0 | 18.63 | 5.91 |
