- 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) | 10.78 | 13.95 | 347.3 | 2.48 | 263.16 | 143.51 | 3.13 | 1856.25 | 159.51 | 2.82 | 1009.68 | 165.13 | 0.42 | 1150.0 | 153.16 | 0.39 | 3800.0 | 172.22 | 0.12 | 9.09 | -14.29 | 6.62 | 46.78 | 412.26 | 20.95 | 9.34 | -23.93 | 80.00 | 0 | -27.27 | 20.00 | 0 | 300.0 | 12.43 | -23.46 | 15.09 |
| 23Q3 (19) | 9.46 | -7.16 | 81.23 | -1.52 | -744.44 | 59.36 | 0.16 | 123.53 | 106.27 | -0.31 | 43.64 | 86.86 | -0.04 | 50.0 | 90.48 | 0.01 | 150.0 | 104.0 | 0.11 | -8.33 | -15.38 | 4.51 | 39.63 | 313.76 | 19.16 | -14.58 | -44.7 | 0.00 | 0 | -100.0 | 0.00 | -100.0 | 100.0 | 16.24 | 15.92 | 37.28 |
| 23Q2 (18) | 10.19 | 101.38 | 15.27 | -0.18 | 96.47 | -172.0 | -0.68 | 86.8 | -23.64 | -0.55 | 86.71 | 5.17 | -0.08 | 86.67 | 27.27 | -0.02 | 95.24 | 60.0 | 0.12 | 0.0 | -20.0 | 3.23 | 339.26 | 30.24 | 22.43 | 4.13 | -39.54 | -0.00 | -100.0 | 100.0 | 100.00 | 0 | -50.0 | 14.01 | -1.75 | 29.48 |
| 23Q1 (17) | 5.06 | 109.96 | -38.74 | -5.10 | 10.53 | -707.14 | -5.15 | 2.09 | -1109.8 | -4.14 | 4.39 | -1135.0 | -0.60 | 24.05 | -766.67 | -0.42 | 22.22 | -450.0 | 0.12 | -14.29 | -33.33 | -1.35 | 36.32 | -145.76 | 21.54 | -21.79 | -24.53 | 100.00 | -9.09 | -50.0 | -0.00 | 100.0 | 100.0 | 14.26 | 32.04 | 53.83 |
| 22Q4 (16) | 2.41 | -53.83 | -73.25 | -5.70 | -52.41 | -374.04 | -5.26 | -106.27 | -340.18 | -4.33 | -83.47 | -354.71 | -0.79 | -88.1 | -313.51 | -0.54 | -116.0 | -268.75 | 0.14 | 7.69 | -17.65 | -2.12 | -294.5 | -153.0 | 27.54 | -20.52 | 8.6 | 110.00 | -21.43 | 10.0 | -10.00 | 75.0 | 0 | 10.80 | -8.71 | 10.09 |
| 22Q3 (15) | 5.22 | -40.95 | -46.3 | -3.74 | -1596.0 | -394.49 | -2.55 | -363.64 | -191.07 | -2.36 | -306.9 | -199.58 | -0.42 | -281.82 | -187.5 | -0.25 | -400.0 | -160.98 | 0.13 | -13.33 | -18.75 | 1.09 | -56.05 | -81.01 | 34.65 | -6.6 | 23.05 | 140.00 | 240.0 | 180.0 | -40.00 | -120.0 | -180.0 | 11.83 | 9.33 | 9.94 |
| 22Q2 (14) | 8.84 | 7.02 | -14.67 | 0.25 | -70.24 | -79.51 | -0.55 | -207.84 | -130.9 | -0.58 | -245.0 | -141.13 | -0.11 | -222.22 | -137.93 | -0.05 | -141.67 | -119.23 | 0.15 | -16.67 | -11.76 | 2.48 | -15.93 | -46.67 | 37.10 | 29.99 | 52.55 | -100.00 | -150.0 | -233.33 | 200.00 | 300.0 | 700.0 | 10.82 | 16.72 | -8.31 |
| 22Q1 (13) | 8.26 | -8.32 | -29.88 | 0.84 | -59.62 | -62.5 | 0.51 | -76.71 | -72.73 | 0.40 | -76.47 | -72.97 | 0.09 | -75.68 | -67.86 | 0.12 | -62.5 | -52.0 | 0.18 | 5.88 | 12.5 | 2.95 | -26.25 | -35.73 | 28.54 | 12.54 | 28.21 | 200.00 | 100.0 | 100.0 | -100.00 | 0 | -300.0 | 9.27 | -5.5 | -22.3 |
| 21Q4 (12) | 9.01 | -7.3 | -42.17 | 2.08 | 63.78 | -68.86 | 2.19 | -21.79 | -68.31 | 1.70 | -28.27 | -68.16 | 0.37 | -22.92 | -62.24 | 0.32 | -21.95 | -62.35 | 0.17 | 6.25 | 6.25 | 4.00 | -30.31 | -58.2 | 25.36 | -9.94 | 71.93 | 100.00 | 100.0 | 0.0 | 0.00 | -100.0 | 0 | 9.81 | -8.83 | -20.05 |
| 21Q3 (11) | 9.72 | -6.18 | -23.28 | 1.27 | 4.1 | 2.42 | 2.80 | 57.3 | 13.36 | 2.37 | 68.09 | 9.22 | 0.48 | 65.52 | 14.29 | 0.41 | 57.69 | 7.89 | 0.16 | -5.88 | 0.0 | 5.74 | 23.44 | 12.55 | 28.16 | 15.79 | 62.59 | 50.00 | -33.33 | 25.0 | 50.00 | 100.0 | 25.0 | 10.76 | -8.81 | -11.29 |
| 21Q2 (10) | 10.36 | -12.05 | -24.05 | 1.22 | -45.54 | -35.79 | 1.78 | -4.81 | -29.64 | 1.41 | -4.73 | -9.62 | 0.29 | 3.57 | 3.57 | 0.26 | 4.0 | 0.0 | 0.17 | 6.25 | 13.33 | 4.65 | 1.31 | -14.84 | 24.32 | 9.25 | 16.64 | 75.00 | -25.0 | 25.0 | 25.00 | 200.0 | 25.0 | 11.80 | -1.09 | 0 |
| 21Q1 (9) | 11.78 | -24.39 | 0.08 | 2.24 | -66.47 | 56.64 | 1.87 | -72.94 | 5.06 | 1.48 | -72.28 | 5.71 | 0.28 | -71.43 | 7.69 | 0.25 | -70.59 | 4.17 | 0.16 | 0.0 | 6.67 | 4.59 | -52.04 | -3.16 | 22.26 | 50.92 | 0.54 | 100.00 | 0.0 | 0.0 | -25.00 | 0 | -175.0 | 11.93 | -2.77 | -1.0 |
| 20Q4 (8) | 15.58 | 22.97 | 57.53 | 6.68 | 438.71 | 557.53 | 6.91 | 179.76 | -62.16 | 5.34 | 146.08 | -70.61 | 0.98 | 133.33 | -73.08 | 0.85 | 123.68 | -71.28 | 0.16 | 0.0 | 0.0 | 9.57 | 87.65 | -54.88 | 14.75 | -14.84 | -31.87 | 100.00 | 150.0 | 1300.0 | 0.00 | -100.0 | -100.0 | 12.27 | 1.15 | -0.97 |
| 20Q3 (7) | 12.67 | -7.11 | 86.87 | 1.24 | -34.74 | 150.61 | 2.47 | -2.37 | 344.55 | 2.17 | 39.1 | 410.0 | 0.42 | 50.0 | 380.0 | 0.38 | 46.15 | 642.86 | 0.16 | 6.67 | -5.88 | 5.10 | -6.59 | 168.42 | 17.32 | -16.93 | -36.86 | 40.00 | -33.33 | -84.0 | 40.00 | 100.0 | 126.67 | 12.13 | 0 | 6.68 |
| 20Q2 (6) | 13.64 | 15.89 | 41.64 | 1.90 | 32.87 | 3266.67 | 2.53 | 42.13 | 328.81 | 1.56 | 11.43 | 246.67 | 0.28 | 7.69 | 180.0 | 0.26 | 8.33 | 100.0 | 0.15 | 0.0 | -16.67 | 5.46 | 15.19 | 47.97 | 20.85 | -5.83 | -21.53 | 60.00 | -40.0 | 0 | 20.00 | -40.0 | -80.0 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 11.77 | 19.01 | 10.41 | 1.43 | 197.95 | 123.44 | 1.78 | -90.25 | 178.13 | 1.40 | -92.29 | 185.71 | 0.26 | -92.86 | 160.0 | 0.24 | -91.89 | 84.62 | 0.15 | -6.25 | -11.76 | 4.74 | -77.65 | 22.8 | 22.14 | 2.26 | -21.27 | 100.00 | 1300.0 | 0.0 | 33.33 | -69.23 | 0 | 12.05 | -2.74 | 0.0 |
| 19Q4 (4) | 9.89 | 45.87 | 0.0 | -1.46 | 40.41 | 0.0 | 18.26 | 1907.92 | 0.0 | 18.17 | 2695.71 | 0.0 | 3.64 | 2526.67 | 0.0 | 2.96 | 4328.57 | 0.0 | 0.16 | -5.88 | 0.0 | 21.21 | 1016.32 | 0.0 | 21.65 | -21.07 | 0.0 | -8.33 | -103.33 | 0.0 | 108.33 | 172.22 | 0.0 | 12.39 | 8.97 | 0.0 |
| 19Q3 (3) | 6.78 | -29.6 | 0.0 | -2.45 | -3983.33 | 0.0 | -1.01 | -271.19 | 0.0 | -0.70 | -255.56 | 0.0 | -0.15 | -250.0 | 0.0 | -0.07 | -153.85 | 0.0 | 0.17 | -5.56 | 0.0 | 1.90 | -48.51 | 0.0 | 27.43 | 3.24 | 0.0 | 250.00 | 0 | 0.0 | -150.00 | -250.0 | 0.0 | 11.37 | 9.75 | 0.0 |
| 19Q2 (2) | 9.63 | -9.66 | 0.0 | -0.06 | -109.38 | 0.0 | 0.59 | -7.81 | 0.0 | 0.45 | -8.16 | 0.0 | 0.10 | 0.0 | 0.0 | 0.13 | 0.0 | 0.0 | 0.18 | 5.88 | 0.0 | 3.69 | -4.4 | 0.0 | 26.57 | -5.51 | 0.0 | -0.00 | -100.0 | 0.0 | 100.00 | 0 | 0.0 | 10.36 | -14.02 | 0.0 |
| 19Q1 (1) | 10.66 | 0.0 | 0.0 | 0.64 | 0.0 | 0.0 | 0.64 | 0.0 | 0.0 | 0.49 | 0.0 | 0.0 | 0.10 | 0.0 | 0.0 | 0.13 | 0.0 | 0.0 | 0.17 | 0.0 | 0.0 | 3.86 | 0.0 | 0.0 | 28.12 | 0.0 | 0.0 | 100.00 | 0.0 | 0.0 | 0.00 | 0.0 | 0.0 | 12.05 | 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) | 8.89 | 39.78 | -1.04 | 0 | 3.41 | 38.16 | -0.64 | 0 | -0.53 | 0 | -0.30 | 0 | -0.05 | 0 | 0.46 | -25.81 | 3.24 | 191.89 | 20.95 | -23.93 | 150.00 | 40.0 | -50.00 | 0 | 0.00 | 0 | 14.17 | 33.81 |
| 2022 (9) | 6.36 | -37.46 | -1.86 | 0 | 2.47 | 9.68 | -1.79 | 0 | -1.57 | 0 | -1.22 | 0 | -0.74 | 0 | 0.62 | -7.46 | 1.11 | -75.97 | 27.54 | 8.6 | 107.14 | 37.76 | -7.14 | 0 | 0.00 | 0 | 10.59 | -4.08 |
| 2021 (8) | 10.17 | -24.1 | 1.70 | -39.29 | 2.25 | -18.84 | 2.16 | -36.66 | 1.74 | -33.33 | 1.41 | -26.56 | 1.28 | -25.15 | 0.67 | 8.06 | 4.62 | -27.01 | 25.36 | 71.93 | 77.78 | -3.7 | 22.22 | 15.56 | 0.00 | 0 | 11.04 | -10.24 |
| 2020 (7) | 13.40 | 45.18 | 2.80 | 0 | 2.77 | 4.77 | 3.41 | -22.5 | 2.61 | -40.41 | 1.92 | -47.68 | 1.71 | -45.37 | 0.62 | -7.46 | 6.33 | -15.03 | 14.75 | -31.87 | 80.77 | 0 | 19.23 | -83.45 | 0.00 | 0 | 12.30 | 6.77 |
| 2019 (6) | 9.23 | -20.16 | -0.82 | 0 | 2.64 | 27.08 | 4.40 | 132.8 | 4.38 | 200.0 | 3.67 | 195.97 | 3.13 | 165.25 | 0.67 | -1.47 | 7.45 | 68.93 | 21.65 | -19.64 | -18.92 | 0 | 116.22 | 335.81 | 0.00 | 0 | 11.52 | -2.54 |
| 2018 (5) | 11.56 | -20.6 | 1.39 | -68.9 | 2.08 | -5.26 | 1.89 | -52.27 | 1.46 | -52.44 | 1.24 | -50.0 | 1.18 | -44.6 | 0.68 | 6.25 | 4.41 | -31.73 | 26.94 | 29.27 | 73.33 | -35.05 | 26.67 | 0 | 0.00 | 0 | 11.82 | -1.09 |
| 2017 (4) | 14.56 | -5.08 | 4.47 | -6.09 | 2.20 | -2.14 | 3.96 | -39.08 | 3.07 | -45.76 | 2.48 | -48.97 | 2.13 | -44.68 | 0.64 | 1.59 | 6.46 | -30.01 | 20.84 | -33.86 | 112.90 | 54.5 | -12.90 | 0 | 0.00 | 0 | 11.95 | 2.05 |
| 2016 (3) | 15.34 | 55.58 | 4.76 | 2063.64 | 2.24 | -6.73 | 6.50 | 0 | 5.66 | 0 | 4.86 | 0 | 3.85 | 38400.0 | 0.63 | 10.53 | 9.23 | 263.39 | 31.51 | -19.43 | 73.08 | 0 | 26.92 | -83.85 | 0.00 | 0 | 11.71 | -2.66 |
| 2015 (2) | 9.86 | -0.9 | 0.22 | 22.22 | 2.41 | -11.84 | -0.46 | 0 | -0.50 | 0 | -0.41 | 0 | 0.01 | 0 | 0.57 | -8.06 | 2.54 | 104.84 | 39.11 | -12.39 | -66.67 | 0 | 166.67 | 48.15 | 0.00 | 0 | 12.03 | 2.04 |
| 2014 (1) | 9.95 | 0 | 0.18 | 0 | 2.73 | 1.99 | -2.01 | 0 | -1.98 | 0 | -1.74 | 0 | -0.94 | 0 | 0.62 | -3.13 | 1.24 | 153.06 | 44.64 | 25.29 | -6.25 | 0 | 112.50 | 2375.0 | 0.00 | 0 | 11.79 | -5.0 |
