- 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) | 24.62 | 15.26 | 10.11 | 5.83 | -24.97 | 12.77 | 6.09 | -25.82 | 7.22 | 5.24 | -21.67 | 8.04 | 1.11 | -40.32 | 3.74 | 0.89 | -37.32 | 4.71 | 0.17 | -19.05 | 0.0 | 8.85 | -14.58 | 7.27 | 23.34 | -16.07 | 2.01 | 95.83 | 1.52 | 4.96 | 4.17 | -25.6 | -52.08 | 17.21 | 35.62 | 38.9 |
| 23Q3 (19) | 21.36 | 2.54 | 16.34 | 7.77 | 1.57 | 24.52 | 8.21 | 5.26 | 24.39 | 6.69 | 1.52 | 24.12 | 1.86 | -7.46 | 10.06 | 1.42 | -6.58 | 10.94 | 0.21 | -8.7 | -12.5 | 10.36 | 6.26 | 23.63 | 27.81 | -18.04 | -3.47 | 94.40 | -3.35 | 0.58 | 5.60 | 140.8 | 6.4 | 12.69 | 7.72 | 18.38 |
| 23Q2 (18) | 20.83 | 12.41 | 14.58 | 7.65 | 74.26 | 19.91 | 7.80 | 72.19 | 22.45 | 6.59 | 80.55 | 26.73 | 2.01 | 116.13 | 22.56 | 1.52 | 105.41 | 26.67 | 0.23 | 15.0 | 0.0 | 9.75 | 43.17 | 19.63 | 33.93 | 7.85 | -8.37 | 97.67 | 0.88 | -2.33 | 2.33 | -26.74 | 0 | 11.78 | -8.04 | 16.17 |
| 23Q1 (17) | 18.53 | -17.13 | 3.58 | 4.39 | -15.09 | -9.11 | 4.53 | -20.25 | -2.16 | 3.65 | -24.74 | 0.55 | 0.93 | -13.08 | -7.0 | 0.74 | -12.94 | -3.9 | 0.20 | 17.65 | -4.76 | 6.81 | -17.45 | 2.71 | 31.46 | 37.5 | -12.2 | 96.83 | 6.05 | -7.15 | 3.17 | -63.49 | 174.07 | 12.81 | 3.39 | 14.58 |
| 22Q4 (16) | 22.36 | 21.79 | -3.95 | 5.17 | -17.15 | -33.46 | 5.68 | -13.94 | -28.19 | 4.85 | -10.02 | -23.74 | 1.07 | -36.69 | -33.54 | 0.85 | -33.59 | -33.59 | 0.17 | -29.17 | -15.0 | 8.25 | -1.55 | -17.42 | 22.88 | -20.58 | -8.41 | 91.30 | -2.72 | -6.99 | 8.70 | 65.22 | 373.91 | 12.39 | 15.58 | 12.33 |
| 22Q3 (15) | 18.36 | 0.99 | -16.85 | 6.24 | -2.19 | -30.51 | 6.60 | 3.61 | -29.49 | 5.39 | 3.65 | -28.23 | 1.69 | 3.05 | -19.91 | 1.28 | 6.67 | -20.99 | 0.24 | 4.35 | 9.09 | 8.38 | 2.82 | -25.91 | 28.81 | -22.2 | 6.62 | 93.86 | -6.14 | -1.97 | 5.26 | 0 | 23.68 | 10.72 | 5.72 | -9.76 |
| 22Q2 (14) | 18.18 | 1.62 | -12.39 | 6.38 | 32.09 | -23.41 | 6.37 | 37.58 | -28.18 | 5.20 | 43.25 | -24.75 | 1.64 | 64.0 | -22.64 | 1.20 | 55.84 | -24.53 | 0.23 | 9.52 | 0.0 | 8.15 | 22.93 | -24.33 | 37.03 | 3.35 | 6.19 | 100.00 | -4.11 | 6.77 | 0.00 | 100.0 | -100.0 | 10.14 | -9.3 | -4.34 |
| 22Q1 (13) | 17.89 | -23.15 | -8.07 | 4.83 | -37.84 | -9.55 | 4.63 | -41.47 | -17.47 | 3.63 | -42.92 | -19.51 | 1.00 | -37.89 | -11.5 | 0.77 | -39.84 | -13.48 | 0.21 | 5.0 | 5.0 | 6.63 | -33.63 | -16.92 | 35.83 | 43.43 | 10.28 | 104.29 | 6.23 | 10.24 | -4.29 | -333.57 | -179.29 | 11.18 | 1.36 | -10.13 |
| 21Q4 (12) | 23.28 | 5.43 | -6.36 | 7.77 | -13.47 | 40.51 | 7.91 | -15.49 | 30.53 | 6.36 | -15.31 | 31.13 | 1.61 | -23.7 | 64.29 | 1.28 | -20.99 | 62.03 | 0.20 | -9.09 | 25.0 | 9.99 | -11.67 | 8.35 | 24.98 | -7.55 | 10.58 | 98.17 | 2.53 | 8.15 | 1.83 | -56.88 | -80.12 | 11.03 | -7.15 | -27.43 |
| 21Q3 (11) | 22.08 | 6.41 | -2.08 | 8.98 | 7.8 | -14.48 | 9.36 | 5.52 | -14.6 | 7.51 | 8.68 | -14.85 | 2.11 | -0.47 | -24.1 | 1.62 | 1.89 | -23.94 | 0.22 | -4.35 | -8.33 | 11.31 | 5.01 | -14.71 | 27.02 | -22.51 | 2.58 | 95.74 | 2.22 | -0.38 | 4.26 | -32.86 | 9.42 | 11.88 | 12.08 | 12.82 |
| 21Q2 (10) | 20.75 | 6.63 | 1.72 | 8.33 | 55.99 | -8.96 | 8.87 | 58.11 | -3.48 | 6.91 | 53.22 | -11.18 | 2.12 | 87.61 | -13.82 | 1.59 | 78.65 | -14.52 | 0.23 | 15.0 | -4.17 | 10.77 | 34.96 | -7.31 | 34.87 | 7.33 | 0.75 | 93.66 | -0.99 | -5.7 | 6.34 | 17.25 | 831.69 | 10.60 | -14.79 | 3.11 |
| 21Q1 (9) | 19.46 | -21.72 | 11.71 | 5.34 | -3.44 | 97.78 | 5.61 | -7.43 | 50.81 | 4.51 | -7.01 | 55.52 | 1.13 | 15.31 | 71.21 | 0.89 | 12.66 | 67.92 | 0.20 | 25.0 | 11.11 | 7.98 | -13.45 | 13.84 | 32.49 | 43.82 | 8.01 | 94.59 | 4.21 | 27.11 | 5.41 | -41.44 | -80.63 | 12.44 | -18.16 | -4.6 |
| 20Q4 (8) | 24.86 | 10.24 | 1.97 | 5.53 | -47.33 | -21.23 | 6.06 | -44.71 | -17.77 | 4.85 | -45.01 | -34.01 | 0.98 | -64.75 | -34.23 | 0.79 | -62.91 | -35.25 | 0.16 | -33.33 | 0.0 | 9.22 | -30.47 | -16.03 | 22.59 | -14.24 | 6.91 | 90.77 | -5.56 | -4.32 | 9.23 | 137.36 | 80.0 | 15.20 | 44.35 | 30.03 |
| 20Q3 (7) | 22.55 | 10.54 | 19.69 | 10.50 | 14.75 | 75.88 | 10.96 | 19.26 | 76.49 | 8.82 | 13.37 | 76.75 | 2.78 | 13.01 | 94.41 | 2.13 | 14.52 | 93.64 | 0.24 | 0.0 | 9.09 | 13.26 | 14.11 | 51.89 | 26.34 | -23.89 | 3.38 | 96.11 | -3.23 | -0.61 | 3.89 | 471.67 | -11.53 | 10.53 | 2.43 | -11.66 |
| 20Q2 (6) | 20.40 | 17.11 | 18.74 | 9.15 | 238.89 | 129.32 | 9.19 | 147.04 | 128.61 | 7.78 | 168.28 | 110.27 | 2.46 | 272.73 | 136.54 | 1.86 | 250.94 | 132.5 | 0.24 | 33.33 | 14.29 | 11.62 | 65.76 | 75.53 | 34.61 | 15.06 | -5.28 | 99.32 | 33.46 | -0.68 | 0.68 | -97.56 | 0 | 10.28 | -21.17 | 9.01 |
| 20Q1 (5) | 17.42 | -28.55 | -0.8 | 2.70 | -61.54 | -29.69 | 3.72 | -49.53 | -17.52 | 2.90 | -60.54 | -20.98 | 0.66 | -55.7 | -23.26 | 0.53 | -56.56 | -23.19 | 0.18 | 12.5 | -5.26 | 7.01 | -36.16 | -7.4 | 30.08 | 42.36 | 11.66 | 74.42 | -21.56 | -12.91 | 27.91 | 444.19 | 91.86 | 13.04 | 11.55 | 4.99 |
| 19Q4 (4) | 24.38 | 29.41 | 0.0 | 7.02 | 17.59 | 0.0 | 7.37 | 18.68 | 0.0 | 7.35 | 47.29 | 0.0 | 1.49 | 4.2 | 0.0 | 1.22 | 10.91 | 0.0 | 0.16 | -27.27 | 0.0 | 10.98 | 25.77 | 0.0 | 21.13 | -17.07 | 0.0 | 94.87 | -1.89 | 0.0 | 5.13 | 16.67 | 0.0 | 11.69 | -1.93 | 0.0 |
| 19Q3 (3) | 18.84 | 9.66 | 0.0 | 5.97 | 49.62 | 0.0 | 6.21 | 54.48 | 0.0 | 4.99 | 34.86 | 0.0 | 1.43 | 37.5 | 0.0 | 1.10 | 37.5 | 0.0 | 0.22 | 4.76 | 0.0 | 8.73 | 31.87 | 0.0 | 25.48 | -30.27 | 0.0 | 96.70 | -3.3 | 0.0 | 4.40 | 0 | 0.0 | 11.92 | 26.41 | 0.0 |
| 19Q2 (2) | 17.18 | -2.16 | 0.0 | 3.99 | 3.91 | 0.0 | 4.02 | -10.86 | 0.0 | 3.70 | 0.82 | 0.0 | 1.04 | 20.93 | 0.0 | 0.80 | 15.94 | 0.0 | 0.21 | 10.53 | 0.0 | 6.62 | -12.55 | 0.0 | 36.54 | 35.63 | 0.0 | 100.00 | 17.02 | 0.0 | 0.00 | -100.0 | 0.0 | 9.43 | -24.07 | 0.0 |
| 19Q1 (1) | 17.56 | 0.0 | 0.0 | 3.84 | 0.0 | 0.0 | 4.51 | 0.0 | 0.0 | 3.67 | 0.0 | 0.0 | 0.86 | 0.0 | 0.0 | 0.69 | 0.0 | 0.0 | 0.19 | 0.0 | 0.0 | 7.57 | 0.0 | 0.0 | 26.94 | 0.0 | 0.0 | 85.45 | 0.0 | 0.0 | 14.55 | 0.0 | 0.0 | 12.42 | 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) | 21.19 | 11.59 | 6.52 | 13.99 | 2.19 | 13.0 | 6.77 | 15.33 | 5.63 | 17.29 | 5.80 | 9.02 | 4.73 | 9.74 | 0.84 | -5.62 | 9.02 | 14.76 | 23.34 | 2.01 | 96.40 | -0.85 | 3.60 | 44.36 | 0.00 | 0 | 13.39 | 21.73 |
| 2022 (9) | 18.99 | -11.3 | 5.72 | -25.62 | 1.94 | -4.02 | 5.87 | -26.9 | 4.80 | -24.88 | 5.32 | -21.88 | 4.31 | -21.92 | 0.89 | 3.49 | 7.86 | -22.1 | 22.88 | -8.41 | 97.23 | 1.37 | 2.49 | -42.04 | 0.00 | 0 | 11.00 | -3.93 |
| 2021 (8) | 21.41 | 0.61 | 7.69 | 2.95 | 2.02 | -23.61 | 8.03 | 1.13 | 6.39 | -1.39 | 6.81 | 1.49 | 5.52 | -0.18 | 0.86 | 1.18 | 10.09 | -5.17 | 24.98 | 10.58 | 95.91 | 2.0 | 4.30 | -27.87 | 0.00 | 0 | 11.45 | -3.78 |
| 2020 (7) | 21.28 | 10.83 | 7.47 | 45.61 | 2.64 | -5.86 | 7.94 | 46.22 | 6.48 | 35.0 | 6.71 | 40.38 | 5.53 | 41.43 | 0.85 | 4.94 | 10.64 | 27.88 | 22.59 | 6.91 | 94.04 | -0.33 | 5.96 | 5.48 | 0.00 | 0 | 11.90 | 5.31 |
| 2019 (6) | 19.20 | -2.29 | 5.13 | 1.99 | 2.81 | 13.31 | 5.43 | 7.31 | 4.80 | 16.79 | 4.78 | 21.94 | 3.91 | 21.81 | 0.81 | 6.58 | 8.32 | 7.63 | 21.13 | -14.87 | 94.35 | -5.28 | 5.65 | 609.54 | 0.00 | 0 | 11.30 | 0.09 |
| 2018 (5) | 19.65 | 4.3 | 5.03 | 4.57 | 2.48 | 6.53 | 5.06 | -0.98 | 4.11 | -4.86 | 3.92 | -5.31 | 3.21 | -4.18 | 0.76 | 0.0 | 7.73 | 1.18 | 24.82 | -3.84 | 99.60 | 5.83 | 0.80 | -86.45 | 0.00 | 0 | 11.29 | 2.54 |
| 2017 (4) | 18.84 | -10.41 | 4.81 | -37.77 | 2.33 | 15.81 | 5.11 | -26.37 | 4.32 | -24.61 | 4.14 | -31.8 | 3.35 | -30.21 | 0.76 | -7.32 | 7.64 | -16.41 | 25.81 | -5.53 | 94.12 | -15.65 | 5.88 | 0 | 0.00 | 0 | 11.01 | 6.27 |
| 2016 (3) | 21.03 | 9.47 | 7.73 | 30.8 | 2.01 | 4.94 | 6.94 | 16.84 | 5.73 | 16.23 | 6.07 | 19.96 | 4.80 | 22.45 | 0.82 | 5.13 | 9.14 | 13.54 | 27.32 | -9.36 | 111.58 | 11.94 | -11.58 | 0 | 0.00 | 0 | 10.36 | 1.17 |
| 2015 (2) | 19.21 | 3.39 | 5.91 | -0.67 | 1.91 | 13.71 | 5.94 | 14.01 | 4.93 | 16.0 | 5.06 | 14.74 | 3.92 | 15.63 | 0.78 | -1.27 | 8.05 | 14.18 | 30.14 | -11.38 | 99.68 | -12.98 | 0.32 | 0 | 0.00 | 0 | 10.24 | 7.11 |
| 2014 (1) | 18.58 | 0 | 5.95 | 0 | 1.68 | -7.02 | 5.21 | 0 | 4.25 | 0 | 4.41 | 0 | 3.39 | 0 | 0.79 | 5.33 | 7.05 | -5.37 | 34.01 | 14.86 | 114.55 | 45.46 | -14.18 | 0 | 0.00 | 0 | 9.56 | -5.35 |
