- 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) | 16.57 | 69.43 | 1.04 | -3.61 | 19.96 | -36200.0 | -11.13 | -231.87 | -46.64 | -8.54 | -136.7 | -89.78 | -0.87 | -277.55 | -64.15 | -0.74 | -276.19 | -100.0 | 0.08 | 0.0 | -11.11 | -5.02 | -136.88 | -83.88 | 16.18 | -4.09 | -30.23 | 33.33 | 162.5 | 0 | 66.67 | -57.45 | -33.33 | 19.08 | -14.52 | -11.26 |
| 23Q3 (19) | 9.78 | -32.18 | -47.67 | -4.51 | 65.49 | -517.81 | 8.44 | 394.08 | -44.58 | 23.27 | 642.42 | 103.59 | 0.49 | 275.0 | -72.0 | 0.42 | 282.61 | -68.89 | 0.08 | -11.11 | -27.27 | 13.61 | 677.71 | -28.33 | 16.87 | -24.45 | -40.72 | -53.33 | -111.28 | -1060.0 | 156.67 | 142.03 | 48.15 | 22.32 | 22.84 | 26.67 |
| 23Q2 (18) | 14.42 | -14.37 | -23.34 | -13.07 | -76.62 | -272.66 | -2.87 | 61.27 | -116.79 | -4.29 | 42.34 | -137.43 | -0.28 | 58.82 | -113.15 | -0.23 | 55.77 | -114.84 | 0.09 | 12.5 | -30.77 | 1.75 | 249.57 | -91.32 | 22.33 | 24.54 | -45.28 | 472.73 | 372.73 | 961.41 | -372.73 | 0 | -772.04 | 18.17 | -18.67 | 6.76 |
| 23Q1 (17) | 16.84 | 2.68 | -4.48 | -7.40 | -74100.0 | -218.02 | -7.41 | 2.37 | -165.23 | -7.44 | -65.33 | -192.88 | -0.68 | -28.3 | -141.21 | -0.52 | -40.54 | -142.62 | 0.08 | -11.11 | -46.67 | -1.17 | 57.14 | -108.5 | 17.93 | -22.68 | -53.61 | 100.00 | 0 | 81.25 | -0.00 | -100.0 | -100.0 | 22.34 | 3.91 | 47.75 |
| 22Q4 (16) | 16.40 | -12.25 | -8.17 | 0.01 | 101.37 | -99.82 | -7.59 | -149.84 | -229.52 | -4.50 | -139.37 | -229.31 | -0.53 | -130.29 | -167.09 | -0.37 | -127.41 | -162.71 | 0.09 | -18.18 | -47.06 | -2.73 | -114.38 | -133.54 | 23.19 | -18.52 | -31.53 | -0.00 | 100.0 | -100.0 | 100.00 | -5.43 | 2300.0 | 21.50 | 22.02 | 35.99 |
| 22Q3 (15) | 18.69 | -0.64 | -5.37 | -0.73 | -109.64 | -108.31 | 15.23 | -10.88 | 43.68 | 11.43 | -0.26 | 57.01 | 1.75 | -17.84 | 16.67 | 1.35 | -12.9 | 21.62 | 0.11 | -15.38 | -26.67 | 18.99 | -5.85 | 43.43 | 28.46 | -30.26 | -23.21 | -4.60 | -110.32 | -105.52 | 105.75 | 90.67 | 489.16 | 17.62 | 3.53 | 11.52 |
| 22Q2 (14) | 18.81 | 6.69 | -7.02 | 7.57 | 20.73 | -38.36 | 17.09 | 50.44 | 46.19 | 11.46 | 43.07 | 17.9 | 2.13 | 29.09 | 2.9 | 1.55 | 27.05 | 0.0 | 0.13 | -13.33 | -18.75 | 20.17 | 46.58 | 41.94 | 40.81 | 5.59 | 11.23 | 44.54 | -19.28 | -57.38 | 55.46 | 23.72 | 1334.03 | 17.02 | 12.57 | 6.78 |
| 22Q1 (13) | 17.63 | -1.29 | 30.79 | 6.27 | 11.96 | 238.92 | 11.36 | 93.86 | 158.18 | 8.01 | 130.17 | 230.99 | 1.65 | 108.86 | 283.72 | 1.22 | 106.78 | 258.82 | 0.15 | -11.76 | 7.14 | 13.76 | 69.04 | 82.74 | 38.65 | 14.11 | 23.96 | 55.17 | -42.43 | 24.14 | 44.83 | 975.86 | -24.35 | 15.12 | -4.36 | -0.4 |
| 21Q4 (12) | 17.86 | -9.57 | 32.59 | 5.60 | -36.22 | 2433.33 | 5.86 | -44.72 | 347.26 | 3.48 | -52.2 | 416.36 | 0.79 | -47.33 | 626.67 | 0.59 | -46.85 | 591.67 | 0.17 | 13.33 | 54.55 | 8.14 | -38.52 | 381.66 | 33.87 | -8.61 | 35.59 | 95.83 | 15.0 | 954.17 | 4.17 | -76.79 | -95.42 | 15.81 | 0.06 | -7.22 |
| 21Q3 (11) | 19.75 | -2.37 | 35.93 | 8.78 | -28.5 | 6653.85 | 10.60 | -9.32 | 2485.37 | 7.28 | -25.1 | 1327.45 | 1.50 | -27.54 | 2042.86 | 1.11 | -28.39 | 1750.0 | 0.15 | -6.25 | 36.36 | 13.24 | -6.83 | 184.12 | 37.06 | 1.01 | 81.93 | 83.33 | -20.25 | 66.67 | 17.95 | 499.36 | -64.1 | 15.80 | -0.88 | -5.67 |
| 21Q2 (10) | 20.23 | 50.07 | 63.67 | 12.28 | 563.78 | 208.1 | 11.69 | 165.68 | 203.73 | 9.72 | 301.65 | 199.79 | 2.07 | 381.4 | 315.62 | 1.55 | 355.88 | 296.2 | 0.16 | 14.29 | 100.0 | 14.21 | 88.71 | 336.05 | 36.69 | 17.67 | 77.25 | 104.49 | 135.11 | 1.88 | -4.49 | -107.58 | 0 | 15.94 | 5.01 | 0 |
| 21Q1 (9) | 13.48 | 0.07 | 59.53 | 1.85 | 870.83 | 115.64 | 4.40 | 285.65 | 175.09 | 2.42 | 320.0 | 144.81 | 0.43 | 386.67 | 186.0 | 0.34 | 383.33 | 182.93 | 0.14 | 27.27 | 75.0 | 7.53 | 345.56 | 2610.0 | 31.18 | 24.82 | 51.21 | 44.44 | 388.89 | -77.78 | 59.26 | -34.81 | 159.26 | 15.18 | -10.92 | 0 |
| 20Q4 (8) | 13.47 | -7.3 | -0.59 | -0.24 | -284.62 | 91.86 | -2.37 | -678.05 | 63.59 | -1.10 | -315.69 | 80.36 | -0.15 | -314.29 | 80.0 | -0.12 | -300.0 | 80.95 | 0.11 | 0.0 | 0.0 | 1.69 | -63.73 | 164.26 | 24.98 | 22.63 | 24.09 | 9.09 | -81.82 | -80.61 | 90.91 | 81.82 | 61.62 | 17.04 | 1.73 | 0 |
| 20Q3 (7) | 14.53 | 17.56 | -20.43 | 0.13 | 101.14 | -96.37 | 0.41 | 103.64 | -92.83 | 0.51 | 105.24 | -87.22 | 0.07 | 107.29 | -87.5 | 0.06 | 107.59 | -87.23 | 0.11 | 37.5 | -8.33 | 4.66 | 177.41 | -50.43 | 20.37 | -1.59 | 5.54 | 50.00 | -51.25 | -21.05 | 50.00 | 0 | 36.36 | 16.75 | 0 | 6.35 |
| 20Q2 (6) | 12.36 | 46.27 | -22.75 | -11.36 | 3.97 | -560.47 | -11.27 | -92.32 | -603.12 | -9.74 | -80.37 | -666.28 | -0.96 | -92.0 | -484.0 | -0.79 | -92.68 | -476.19 | 0.08 | 0.0 | -33.33 | -6.02 | -1906.67 | -203.79 | 20.70 | 0.39 | -4.83 | 102.56 | -48.72 | 223.08 | -0.00 | 100.0 | -100.0 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 8.45 | -37.64 | -49.79 | -11.83 | -301.02 | -395.75 | -5.86 | 9.98 | -206.74 | -5.40 | 3.57 | -219.47 | -0.50 | 33.33 | -170.42 | -0.41 | 34.92 | -169.49 | 0.08 | -27.27 | -38.46 | -0.30 | 88.59 | -103.34 | 20.62 | 2.43 | 1.03 | 200.00 | 326.67 | 175.0 | -100.00 | -277.78 | -466.67 | 0.00 | 0 | -100.0 |
| 19Q4 (4) | 13.55 | -25.79 | 0.0 | -2.95 | -182.4 | 0.0 | -6.51 | -213.81 | 0.0 | -5.60 | -240.35 | 0.0 | -0.75 | -233.93 | 0.0 | -0.63 | -234.04 | 0.0 | 0.11 | -8.33 | 0.0 | -2.63 | -127.98 | 0.0 | 20.13 | 4.3 | 0.0 | 46.88 | -25.99 | 0.0 | 56.25 | 53.41 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 18.26 | 14.13 | 0.0 | 3.58 | 308.14 | 0.0 | 5.72 | 155.36 | 0.0 | 3.99 | 131.98 | 0.0 | 0.56 | 124.0 | 0.0 | 0.47 | 123.81 | 0.0 | 0.12 | 0.0 | 0.0 | 9.40 | 62.07 | 0.0 | 19.30 | -11.26 | 0.0 | 63.33 | 176.0 | 0.0 | 36.67 | -80.0 | 0.0 | 15.75 | -6.25 | 0.0 |
| 19Q2 (2) | 16.00 | -4.93 | 0.0 | -1.72 | -143.0 | 0.0 | 2.24 | -59.2 | 0.0 | 1.72 | -61.95 | 0.0 | 0.25 | -64.79 | 0.0 | 0.21 | -64.41 | 0.0 | 0.12 | -7.69 | 0.0 | 5.80 | -35.48 | 0.0 | 21.75 | 6.57 | 0.0 | -83.33 | -214.58 | 0.0 | 183.33 | 572.22 | 0.0 | 16.80 | 8.11 | 0.0 |
| 19Q1 (1) | 16.83 | 0.0 | 0.0 | 4.00 | 0.0 | 0.0 | 5.49 | 0.0 | 0.0 | 4.52 | 0.0 | 0.0 | 0.71 | 0.0 | 0.0 | 0.59 | 0.0 | 0.0 | 0.13 | 0.0 | 0.0 | 8.99 | 0.0 | 0.0 | 20.41 | 0.0 | 0.0 | 72.73 | 0.0 | 0.0 | 27.27 | 0.0 | 0.0 | 15.54 | 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) | 14.31 | -20.46 | -7.41 | 0 | 4.79 | 73.89 | -2.95 | 0 | 0.99 | -86.89 | -1.35 | 0 | -1.05 | 0 | 0.32 | -38.46 | 2.60 | -81.21 | 16.18 | -30.23 | 250.00 | 574.48 | -150.00 | 0 | 0.74 | 10.6 | 20.43 | 17.62 |
| 2022 (9) | 17.99 | -0.17 | 3.89 | -46.93 | 2.75 | 21.04 | 10.50 | 27.43 | 7.55 | 29.73 | 5.05 | 5.87 | 4.06 | 9.14 | 0.52 | -17.46 | 13.84 | 27.91 | 23.19 | -31.53 | 37.07 | -58.3 | 62.93 | 466.41 | 0.67 | 17.27 | 17.37 | 10.57 |
| 2021 (8) | 18.02 | 44.39 | 7.33 | 0 | 2.27 | -45.37 | 8.24 | 0 | 5.82 | 0 | 4.77 | 0 | 3.72 | 0 | 0.63 | 70.27 | 10.82 | 2416.28 | 33.87 | 35.59 | 88.89 | -24.44 | 11.11 | 0 | 0.57 | -18.17 | 15.71 | -15.36 |
| 2020 (7) | 12.48 | -23.01 | -4.97 | 0 | 4.16 | 29.01 | -4.25 | 0 | -3.42 | 0 | -1.53 | 0 | -1.24 | 0 | 0.37 | -22.92 | 0.43 | -92.29 | 24.98 | 24.09 | 117.65 | 166.25 | -17.65 | 0 | 0.70 | -12.41 | 18.56 | 12.01 |
| 2019 (6) | 16.21 | -21.77 | 0.86 | -87.59 | 3.23 | 11.48 | 1.98 | -79.98 | 1.37 | -70.91 | 0.80 | -75.68 | 0.68 | -76.79 | 0.48 | -15.79 | 5.58 | -58.97 | 20.13 | -14.52 | 44.19 | -36.84 | 55.81 | 85.81 | 0.80 | 24.48 | 16.57 | -2.24 |
| 2018 (5) | 20.72 | -20.06 | 6.93 | -43.24 | 2.89 | -19.48 | 9.89 | -0.2 | 4.71 | -32.33 | 3.29 | -19.56 | 2.93 | -13.06 | 0.57 | 18.75 | 13.60 | -1.73 | 23.55 | 3.06 | 69.96 | -43.27 | 30.04 | 0 | 0.64 | 4.93 | 16.95 | 0.53 |
| 2017 (4) | 25.92 | 21.75 | 12.21 | 116.11 | 3.59 | -36.7 | 9.91 | 77.92 | 6.96 | 51.63 | 4.09 | 45.55 | 3.37 | 45.89 | 0.48 | 2.13 | 13.84 | 17.09 | 22.85 | -3.87 | 123.32 | 21.48 | -23.32 | 0 | 0.61 | 0 | 16.86 | 15.56 |
| 2016 (3) | 21.29 | -0.33 | 5.65 | 39.85 | 5.68 | -3.3 | 5.57 | -27.47 | 4.59 | -19.76 | 2.81 | -22.16 | 2.31 | -17.5 | 0.47 | 0.0 | 11.82 | -15.27 | 23.77 | -32.61 | 101.52 | 92.19 | -1.52 | 0 | 0.00 | 0 | 14.59 | -4.45 |
| 2015 (2) | 21.36 | 23.61 | 4.04 | 11.29 | 5.87 | 0.67 | 7.68 | 0.52 | 5.72 | -21.32 | 3.61 | -27.07 | 2.80 | -26.32 | 0.47 | -7.84 | 13.95 | 0.43 | 35.27 | 13.48 | 52.82 | 10.87 | 47.18 | -9.89 | 0.00 | 0 | 15.27 | 21.29 |
| 2014 (1) | 17.28 | 0 | 3.63 | 0 | 5.83 | 4.79 | 7.64 | 0 | 7.27 | 0 | 4.95 | 0 | 3.80 | 0 | 0.51 | -3.77 | 13.89 | -27.09 | 31.08 | -18.08 | 47.64 | -30.37 | 52.36 | 67.13 | 0.00 | 0 | 12.59 | 2.86 |
