- 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) | 35.15 | -1.65 | 0.11 | 9.41 | 254.01 | 58.15 | 1.12 | 165.12 | 161.88 | 1.08 | 500.0 | 145.0 | 0.53 | 688.89 | 143.44 | 0.39 | 254.55 | 234.48 | 0.21 | 50.0 | 16.67 | 4.84 | 30.11 | 130.48 | 136.59 | -0.86 | -29.74 | 829.63 | 135.88 | 352.21 | -729.63 | -189.85 | -270.1 | 11.45 | -33.78 | -14.04 |
| 23Q3 (19) | 35.74 | 4.72 | 21.85 | -6.11 | 49.79 | 49.63 | -1.72 | 71.14 | -131.97 | -0.27 | 92.13 | -105.12 | -0.09 | 92.37 | -105.08 | 0.11 | 144.0 | -86.9 | 0.14 | 7.69 | 7.69 | 3.72 | 1277.78 | -67.76 | 137.78 | -13.34 | -14.45 | 351.72 | 71.06 | 257.02 | -251.72 | -140.9 | -177.69 | 17.29 | 31.48 | -2.92 |
| 23Q2 (18) | 34.13 | 5.76 | 41.5 | -12.17 | -603.47 | 28.5 | -5.96 | -71.26 | 5.25 | -3.43 | 3.65 | 35.65 | -1.18 | 40.7 | 33.71 | -0.25 | 50.0 | 51.92 | 0.13 | -31.58 | 8.33 | 0.27 | -56.45 | 280.0 | 158.99 | -17.59 | -2.02 | 205.62 | 311.24 | -23.88 | -104.49 | -308.99 | 38.57 | 13.15 | -6.67 | -28.22 |
| 23Q1 (17) | 32.27 | -8.09 | 19.61 | -1.73 | -129.08 | 63.11 | -3.48 | -92.27 | -154.01 | -3.56 | -48.33 | -83.51 | -1.99 | -63.11 | -93.2 | -0.50 | -72.41 | -108.33 | 0.19 | 5.56 | 0.0 | 0.62 | -70.48 | -75.0 | 192.93 | -0.76 | 11.56 | 50.00 | 115.2 | -85.38 | 50.00 | -88.34 | 120.67 | 14.09 | 5.78 | 19.31 |
| 22Q4 (16) | 35.11 | 19.71 | 4.0 | 5.95 | 149.05 | 110.25 | -1.81 | -133.64 | -552.5 | -2.40 | -145.54 | -340.0 | -1.22 | -168.93 | -300.0 | -0.29 | -134.52 | -182.86 | 0.18 | 38.46 | -18.18 | 2.10 | -81.8 | -43.4 | 194.41 | 20.71 | 8.93 | -328.95 | -46.85 | -147.61 | 428.95 | 32.39 | 171.49 | 13.32 | -25.21 | 16.33 |
| 22Q3 (15) | 29.33 | 21.6 | -12.89 | -12.13 | 28.73 | -258.36 | 5.38 | 185.53 | -12.23 | 5.27 | 198.87 | 19.23 | 1.77 | 199.44 | -27.76 | 0.84 | 261.54 | -16.83 | 0.13 | 8.33 | -35.0 | 11.54 | 7793.33 | 17.64 | 161.05 | -0.75 | -7.68 | -224.00 | -182.93 | -278.48 | 324.00 | 290.46 | 1404.76 | 17.81 | -2.78 | 87.28 |
| 22Q2 (14) | 24.12 | -10.6 | -29.12 | -17.02 | -262.9 | -353.27 | -6.29 | -359.12 | -416.08 | -5.33 | -174.74 | -462.59 | -1.78 | -72.82 | -287.37 | -0.52 | -116.67 | -223.81 | 0.12 | -36.84 | -45.45 | -0.15 | -106.05 | -102.91 | 162.26 | -6.18 | -10.08 | 270.11 | -21.0 | -20.13 | -170.11 | 29.69 | 28.58 | 18.32 | 55.12 | 101.54 |
| 22Q1 (13) | 26.98 | -20.08 | -25.16 | -4.69 | -265.72 | -153.54 | -1.37 | -442.5 | -115.78 | -1.94 | -294.0 | -127.75 | -1.03 | -268.85 | -117.52 | -0.24 | -168.57 | -111.27 | 0.19 | -13.64 | -34.48 | 2.48 | -33.15 | -77.29 | 172.94 | -3.1 | -15.86 | 341.94 | -50.51 | 238.88 | -241.94 | 59.68 | -26754.84 | 11.81 | 3.14 | 58.31 |
| 21Q4 (12) | 33.76 | 0.27 | -17.96 | 2.83 | -63.05 | -82.48 | 0.40 | -93.47 | -97.19 | 1.00 | -77.38 | -92.36 | 0.61 | -75.1 | -96.18 | 0.35 | -65.35 | -94.04 | 0.22 | 10.0 | -50.0 | 3.71 | -62.18 | -76.87 | 178.48 | 2.32 | 3.7 | 690.91 | 450.51 | 509.21 | -600.00 | -2316.22 | -4373.79 | 11.45 | 20.4 | 60.36 |
| 21Q3 (11) | 33.67 | -1.06 | -27.96 | 7.66 | 13.99 | -60.21 | 6.13 | 208.04 | -64.46 | 4.42 | 200.68 | -62.48 | 2.45 | 157.89 | -79.57 | 1.01 | 140.48 | -75.84 | 0.20 | -9.09 | -42.86 | 9.81 | 90.12 | -50.75 | 174.44 | -3.33 | -3.41 | 125.50 | -62.89 | 12.55 | -24.83 | 89.57 | -112.8 | 9.51 | 4.62 | 1.17 |
| 21Q2 (10) | 34.03 | -5.6 | -24.6 | 6.72 | -23.29 | -42.86 | 1.99 | -77.07 | -81.23 | 1.47 | -78.97 | -80.22 | 0.95 | -83.84 | -85.32 | 0.42 | -80.28 | -81.17 | 0.22 | -24.14 | -21.43 | 5.16 | -52.75 | -64.44 | 180.45 | -12.21 | -14.61 | 338.18 | 235.16 | 204.94 | -238.18 | -26338.18 | -2084.7 | 9.09 | 21.85 | 0 |
| 21Q1 (9) | 36.05 | -12.39 | 28.57 | 8.76 | -45.76 | 12614.29 | 8.68 | -39.09 | 3238.46 | 6.99 | -46.6 | 2154.84 | 5.88 | -63.2 | 2700.0 | 2.13 | -63.71 | 826.09 | 0.29 | -34.09 | 38.1 | 10.92 | -31.92 | 93.62 | 205.54 | 19.42 | -0.12 | 100.90 | -11.03 | 503.6 | -0.90 | 93.28 | -100.72 | 7.46 | 4.48 | 0 |
| 20Q4 (8) | 41.15 | -11.96 | 34.21 | 16.15 | -16.1 | 63.13 | 14.25 | -17.39 | 128.37 | 13.09 | 11.12 | 163.91 | 15.98 | 33.28 | 323.87 | 5.87 | 40.43 | 338.06 | 0.44 | 25.71 | 91.3 | 16.04 | -19.48 | 40.21 | 172.12 | -4.69 | -23.52 | 113.41 | 1.71 | -28.26 | -13.41 | -14.93 | 76.91 | 7.14 | -24.04 | -62.95 |
| 20Q3 (7) | 46.74 | 3.57 | 44.98 | 19.25 | 63.69 | 153.96 | 17.25 | 62.74 | 145.73 | 11.78 | 58.55 | 122.26 | 11.99 | 85.32 | 280.63 | 4.18 | 87.44 | 257.26 | 0.35 | 25.0 | 84.21 | 19.92 | 37.28 | 48.1 | 180.59 | -14.55 | -19.18 | 111.51 | 0.55 | 3.46 | -11.67 | -7.04 | -50.03 | 9.40 | 0 | -42.08 |
| 20Q2 (6) | 45.13 | 60.95 | 84.2 | 11.76 | 16900.0 | 384.06 | 10.60 | 3976.92 | 500.0 | 7.43 | 2296.77 | 650.37 | 6.47 | 2980.95 | 1051.47 | 2.23 | 869.57 | 4560.0 | 0.28 | 33.33 | 75.0 | 14.51 | 157.27 | 191.37 | 211.33 | 2.69 | 4.01 | 110.90 | 543.61 | -30.08 | -10.90 | -108.72 | 80.24 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 28.04 | -8.55 | -3.28 | -0.07 | -100.71 | -101.14 | 0.26 | -95.83 | -95.9 | 0.31 | -93.75 | -93.39 | 0.21 | -94.43 | -94.62 | 0.23 | -82.84 | -83.33 | 0.21 | -8.7 | -16.0 | 5.64 | -50.7 | -49.51 | 205.79 | -8.56 | -5.28 | -25.00 | -115.81 | -125.68 | 125.00 | 315.16 | 4608.33 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 30.66 | -4.9 | 0.0 | 9.90 | 30.61 | 0.0 | 6.24 | -11.11 | 0.0 | 4.96 | -6.42 | 0.0 | 3.77 | 19.68 | 0.0 | 1.34 | 14.53 | 0.0 | 0.23 | 21.05 | 0.0 | 11.44 | -14.94 | 0.0 | 225.06 | 0.72 | 0.0 | 158.10 | 46.69 | 0.0 | -58.10 | -646.94 | 0.0 | 19.27 | 18.73 | 0.0 |
| 19Q3 (3) | 32.24 | 31.59 | 0.0 | 7.58 | 283.09 | 0.0 | 7.02 | 364.91 | 0.0 | 5.30 | 492.59 | 0.0 | 3.15 | 563.24 | 0.0 | 1.17 | 2440.0 | 0.0 | 0.19 | 18.75 | 0.0 | 13.45 | 170.08 | 0.0 | 223.45 | 9.97 | 0.0 | 107.78 | -32.05 | 0.0 | -7.78 | 85.9 | 0.0 | 16.23 | -11.26 | 0.0 |
| 19Q2 (2) | 24.50 | -15.49 | 0.0 | -4.14 | -167.21 | 0.0 | -2.65 | -141.8 | 0.0 | -1.35 | -128.78 | 0.0 | -0.68 | -117.44 | 0.0 | -0.05 | -103.62 | 0.0 | 0.16 | -36.0 | 0.0 | 4.98 | -55.42 | 0.0 | 203.19 | -6.48 | 0.0 | 158.62 | 62.95 | 0.0 | -55.17 | -2178.16 | 0.0 | 18.29 | 25.96 | 0.0 |
| 19Q1 (1) | 28.99 | 0.0 | 0.0 | 6.16 | 0.0 | 0.0 | 6.34 | 0.0 | 0.0 | 4.69 | 0.0 | 0.0 | 3.90 | 0.0 | 0.0 | 1.38 | 0.0 | 0.0 | 0.25 | 0.0 | 0.0 | 11.17 | 0.0 | 0.0 | 217.26 | 0.0 | 0.0 | 97.35 | 0.0 | 0.0 | 2.65 | 0.0 | 0.0 | 14.52 | 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) | 34.25 | 16.97 | -1.28 | 0 | 2.35 | -3.24 | -2.18 | 0 | -1.42 | 0 | -2.50 | 0 | -0.28 | 0 | 0.67 | 13.56 | 2.50 | -30.75 | 136.59 | -29.74 | 59.17 | -87.52 | 41.42 | 0 | 11.65 | 2.86 | 13.79 | -6.06 |
| 2022 (9) | 29.28 | -15.25 | -5.39 | 0 | 2.43 | 40.5 | -1.14 | 0 | -1.33 | 0 | -2.24 | 0 | -0.22 | 0 | 0.59 | -35.87 | 3.61 | -52.93 | 194.41 | 8.93 | 474.07 | 230.95 | -374.07 | 0 | 11.32 | 7.53 | 14.68 | 59.91 |
| 2021 (8) | 34.55 | -17.32 | 6.69 | -52.62 | 1.73 | 14.02 | 4.67 | -62.97 | 3.78 | -62.35 | 9.59 | -74.12 | 3.92 | -70.46 | 0.92 | -28.12 | 7.67 | -50.55 | 178.48 | 3.7 | 143.25 | 27.94 | -43.25 | 0 | 10.53 | 12.65 | 9.18 | 2.11 |
| 2020 (7) | 41.79 | 42.43 | 14.12 | 152.14 | 1.52 | -52.81 | 12.61 | 164.92 | 10.04 | 167.02 | 37.05 | 263.95 | 13.27 | 254.81 | 1.28 | 56.1 | 15.51 | 46.6 | 172.12 | -23.52 | 111.96 | -4.76 | -11.96 | 0 | 9.35 | 63.95 | 8.99 | -47.02 |
| 2019 (6) | 29.34 | 6.73 | 5.60 | 266.01 | 3.21 | 11.6 | 4.76 | 80.3 | 3.76 | 64.19 | 10.18 | 68.82 | 3.74 | 49.6 | 0.82 | 1.23 | 10.58 | 32.75 | 225.06 | -5.44 | 117.56 | 103.31 | -17.56 | 0 | 5.70 | -13.85 | 16.97 | -2.42 |
| 2018 (5) | 27.49 | -3.58 | 1.53 | 0 | 2.88 | 15.64 | 2.64 | 0 | 2.29 | 0 | 6.03 | 0 | 2.50 | 0 | 0.81 | 9.46 | 7.97 | 0 | 238.00 | 13.79 | 57.82 | 384.27 | 42.18 | -52.1 | 6.62 | 50.97 | 17.39 | 8.21 |
| 2017 (4) | 28.51 | -3.78 | -0.54 | 0 | 2.49 | 41.74 | -4.51 | 0 | -3.72 | 0 | -7.58 | 0 | -2.35 | 0 | 0.74 | -23.71 | -0.27 | 0 | 209.15 | 49.23 | 11.94 | -88.23 | 88.06 | 0 | 4.38 | 0 | 16.07 | 19.21 |
| 2016 (3) | 29.63 | 17.07 | 8.65 | 61.08 | 1.76 | 12.4 | 8.53 | 13.73 | 6.38 | 10.96 | 15.92 | -14.55 | 6.61 | 1.07 | 0.97 | -7.62 | 11.79 | 10.5 | 140.15 | -24.31 | 101.49 | 41.74 | -1.49 | 0 | 0.00 | 0 | 13.48 | -3.71 |
| 2015 (2) | 25.31 | 1.04 | 5.37 | -8.98 | 1.56 | 9.49 | 7.50 | 3.02 | 5.75 | 0.17 | 18.63 | -30.04 | 6.54 | -14.73 | 1.05 | -15.32 | 10.67 | 5.02 | 185.16 | -23.22 | 71.60 | -11.58 | 28.40 | 51.61 | 0.00 | 0 | 14.00 | 6.87 |
| 2014 (1) | 25.05 | 0 | 5.90 | 0 | 1.43 | -19.44 | 7.28 | 0 | 5.74 | 0 | 26.63 | 0 | 7.67 | 0 | 1.24 | 6.9 | 10.16 | 174.59 | 241.17 | -24.88 | 80.98 | 94.35 | 18.73 | -70.03 | 0.00 | 0 | 13.10 | 5.56 |
