- 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) | 32.65 | -9.03 | -2.42 | 6.72 | -42.17 | -37.55 | 9.69 | -31.18 | 250.0 | 7.56 | -32.2 | 183.81 | 2.01 | -27.44 | 178.21 | 0.48 | -22.58 | 196.0 | 0.06 | 20.0 | 0.0 | 23.66 | -20.01 | 206.08 | 336.88 | -5.58 | -15.16 | 69.28 | -16.1 | 141.62 | 30.72 | 75.87 | -88.47 | 12.65 | 2.35 | 4.2 |
| 23Q3 (19) | 35.89 | -0.47 | 0.64 | 11.62 | -1.02 | -9.22 | 14.08 | -4.67 | 87.73 | 11.15 | -4.29 | 159.91 | 2.77 | -4.48 | 138.79 | 0.62 | -3.13 | 138.46 | 0.05 | 0.0 | -16.67 | 29.58 | -4.3 | 31.18 | 356.79 | -6.03 | -4.68 | 82.56 | 3.84 | -51.63 | 17.47 | -14.72 | 124.72 | 12.36 | -6.01 | -4.7 |
| 23Q2 (18) | 36.06 | -1.04 | -8.66 | 11.74 | -5.7 | -28.76 | 14.77 | 0.82 | 211.72 | 11.65 | 1.22 | 165.27 | 2.90 | -2.03 | 165.46 | 0.64 | 0.0 | 170.33 | 0.05 | 0.0 | 0.0 | 30.91 | 0.45 | 1011.87 | 379.67 | -1.29 | -5.3 | 79.51 | -6.43 | 163.78 | 20.49 | 36.41 | -90.88 | 13.15 | 2.33 | 8.68 |
| 23Q1 (17) | 36.44 | 8.91 | 5.99 | 12.45 | 15.71 | -3.41 | 14.65 | 326.78 | -23.3 | 11.51 | 227.61 | -28.02 | 2.96 | 215.18 | -29.19 | 0.64 | 228.0 | -32.63 | 0.05 | -16.67 | -16.67 | 30.77 | 298.06 | -8.42 | 384.62 | -3.14 | 10.9 | 84.98 | 151.06 | 25.91 | 15.02 | -94.36 | -53.8 | 12.85 | 5.85 | 4.81 |
| 22Q4 (16) | 33.46 | -6.17 | 16.83 | 10.76 | -15.94 | 30.11 | -6.46 | -186.13 | -149.92 | -9.02 | -310.26 | -185.82 | -2.57 | -321.55 | -183.71 | -0.50 | -292.31 | -171.43 | 0.06 | 0.0 | 0.0 | 7.73 | -65.72 | -70.92 | 397.07 | 6.08 | 10.89 | -166.45 | -197.52 | -360.23 | 266.45 | 476.99 | 639.35 | 12.14 | -6.4 | -6.33 |
| 22Q3 (15) | 35.66 | -9.68 | 14.55 | 12.80 | -22.33 | 27.62 | 7.50 | 156.73 | -38.63 | 4.29 | 124.03 | -55.91 | 1.16 | 126.19 | -58.57 | 0.26 | 128.57 | -59.38 | 0.06 | 20.0 | 0.0 | 22.55 | 711.15 | -13.27 | 374.30 | -6.64 | 4.06 | 170.68 | 236.9 | 108.01 | -70.68 | -131.46 | -493.8 | 12.97 | 7.19 | 24.47 |
| 22Q2 (14) | 39.48 | 14.83 | 26.21 | 16.48 | 27.85 | 77.97 | -13.22 | -169.21 | -206.01 | -17.85 | -211.63 | -288.49 | -4.43 | -205.98 | -274.41 | -0.91 | -195.79 | -256.9 | 0.05 | -16.67 | -16.67 | 2.78 | -91.73 | -89.81 | 400.93 | 15.61 | 9.43 | -124.67 | -284.72 | -267.88 | 224.67 | 591.11 | 772.89 | 12.10 | -1.31 | -7.91 |
| 22Q1 (13) | 34.38 | 20.04 | 17.78 | 12.89 | 55.86 | 42.27 | 19.10 | 47.6 | 58.24 | 15.99 | 52.14 | 61.35 | 4.18 | 36.16 | 35.71 | 0.95 | 35.71 | 35.71 | 0.06 | 0.0 | -14.29 | 33.60 | 26.41 | 34.24 | 346.81 | -3.15 | -1.86 | 67.49 | 5.52 | -10.1 | 32.51 | -9.79 | 30.4 | 12.26 | -5.4 | 15.01 |
| 21Q4 (12) | 28.64 | -8.0 | 71.29 | 8.27 | -17.55 | 193.87 | 12.94 | 5.89 | 69.15 | 10.51 | 8.02 | 44.57 | 3.07 | 9.64 | 8.48 | 0.70 | 9.37 | 12.9 | 0.06 | 0.0 | -25.0 | 26.58 | 2.23 | 22.71 | 358.08 | -0.45 | -1.75 | 63.96 | -22.05 | 155.54 | 36.04 | 100.8 | -83.25 | 12.96 | 24.38 | 42.11 |
| 21Q3 (11) | 31.13 | -0.48 | 43.39 | 10.03 | 8.32 | 2028.85 | 12.22 | -2.0 | 47.05 | 9.73 | 2.75 | 43.09 | 2.80 | 10.24 | 12.45 | 0.64 | 10.34 | 23.08 | 0.06 | 0.0 | -14.29 | 26.00 | -4.66 | 24.76 | 359.70 | -1.83 | -13.2 | 82.05 | 10.49 | 1401.01 | 17.95 | -30.27 | -83.12 | 10.42 | -20.7 | -15.49 |
| 21Q2 (10) | 31.28 | 7.16 | 25.72 | 9.26 | 2.21 | 363.0 | 12.47 | 3.31 | 83.11 | 9.47 | -4.44 | 70.02 | 2.54 | -17.53 | 31.61 | 0.58 | -17.14 | 38.1 | 0.06 | -14.29 | 0.0 | 27.27 | 8.95 | 31.42 | 366.39 | 3.68 | -15.0 | 74.26 | -1.08 | 152.79 | 25.74 | 3.25 | -63.56 | 13.14 | 23.26 | 0 |
| 21Q1 (9) | 29.19 | 74.58 | 1.11 | 9.06 | 202.84 | 158.12 | 12.07 | 57.78 | 173.7 | 9.91 | 36.31 | 218.65 | 3.08 | 8.83 | 220.83 | 0.70 | 12.9 | 191.67 | 0.07 | -12.5 | 16.67 | 25.03 | 15.56 | 22.7 | 353.37 | -3.04 | -20.0 | 75.07 | 165.19 | -5.43 | 24.93 | -88.41 | 20.91 | 10.66 | 16.89 | 0 |
| 20Q4 (8) | 16.72 | -22.98 | 154.59 | -8.81 | -1594.23 | 93.25 | 7.65 | -7.94 | 107.32 | 7.27 | 6.91 | 107.13 | 2.83 | 13.65 | 108.25 | 0.62 | 19.23 | 108.62 | 0.08 | 14.29 | 14.29 | 21.66 | 3.93 | 123.92 | 364.46 | -12.05 | -18.99 | -115.16 | -1726.01 | -192.2 | 215.16 | 102.4 | 963.89 | 9.12 | -26.03 | -43.81 |
| 20Q3 (7) | 21.71 | -12.74 | 10.99 | -0.52 | -126.0 | 60.0 | 8.31 | 22.03 | 323.99 | 6.80 | 22.08 | 232.55 | 2.49 | 29.02 | 280.43 | 0.52 | 23.81 | 279.31 | 0.07 | 16.67 | 0.0 | 20.84 | 0.43 | 140.37 | 414.40 | -3.86 | 33.15 | -6.31 | -121.47 | -118.04 | 106.31 | 50.53 | 63.44 | 12.33 | 0 | 21.0 |
| 20Q2 (6) | 24.88 | -13.82 | 43.82 | 2.00 | -43.02 | 133.96 | 6.81 | 54.42 | 3342.86 | 5.57 | 79.1 | 254.72 | 1.93 | 101.04 | 312.09 | 0.42 | 75.0 | 333.33 | 0.06 | 0.0 | -14.29 | 20.75 | 1.72 | 55.55 | 431.05 | -2.42 | 44.78 | 29.38 | -62.99 | -98.98 | 70.62 | 242.52 | 102.54 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 28.87 | 194.25 | 15.67 | 3.51 | 102.69 | -8.36 | 4.41 | 104.22 | -37.18 | 3.11 | 103.05 | -15.03 | 0.96 | 102.8 | 7.87 | 0.24 | 103.34 | -17.24 | 0.06 | -14.29 | -14.29 | 20.40 | 122.53 | 1.34 | 441.73 | -1.82 | 62.11 | 79.38 | -36.45 | 45.55 | 20.62 | 182.78 | -54.65 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | -30.63 | -256.6 | 0.0 | -130.60 | -9946.15 | 0.0 | -104.56 | -2718.33 | 0.0 | -101.94 | -1887.13 | 0.0 | -34.31 | -2386.23 | 0.0 | -7.19 | -2379.31 | 0.0 | 0.07 | 0.0 | 0.0 | -90.54 | -1144.29 | 0.0 | 449.90 | 44.56 | 0.0 | 124.91 | 257.32 | 0.0 | -24.91 | -138.29 | 0.0 | 16.23 | 59.27 | 0.0 |
| 19Q3 (3) | 19.56 | 13.06 | 0.0 | -1.30 | 77.93 | 0.0 | -3.71 | -1666.67 | 0.0 | -5.13 | -42.5 | 0.0 | -1.38 | -51.65 | 0.0 | -0.29 | -61.11 | 0.0 | 0.07 | 0.0 | 0.0 | 8.67 | -35.01 | 0.0 | 311.22 | 4.53 | 0.0 | 34.96 | -98.79 | 0.0 | 65.04 | 102.34 | 0.0 | 10.19 | -0.78 | 0.0 |
| 19Q2 (2) | 17.30 | -30.69 | 0.0 | -5.89 | -253.79 | 0.0 | -0.21 | -102.99 | 0.0 | -3.60 | -198.36 | 0.0 | -0.91 | -202.25 | 0.0 | -0.18 | -162.07 | 0.0 | 0.07 | 0.0 | 0.0 | 13.34 | -33.73 | 0.0 | 297.72 | 9.26 | 0.0 | 2881.40 | 5183.18 | 0.0 | -2781.40 | -6218.21 | 0.0 | 10.27 | -4.2 | 0.0 |
| 19Q1 (1) | 24.96 | 0.0 | 0.0 | 3.83 | 0.0 | 0.0 | 7.02 | 0.0 | 0.0 | 3.66 | 0.0 | 0.0 | 0.89 | 0.0 | 0.0 | 0.29 | 0.0 | 0.0 | 0.07 | 0.0 | 0.0 | 20.13 | 0.0 | 0.0 | 272.49 | 0.0 | 0.0 | 54.54 | 0.0 | 0.0 | 45.46 | 0.0 | 0.0 | 10.72 | 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) | 35.15 | -1.32 | 10.46 | -20.21 | 10.50 | 5.99 | 13.14 | 634.08 | 10.34 | 0 | 10.53 | 0 | 2.40 | 0 | 0.22 | -4.35 | 28.51 | 70.82 | 336.88 | -15.16 | 79.61 | -89.13 | 20.39 | 0 | 0.27 | 37.72 | 12.74 | 2.99 |
| 2022 (9) | 35.62 | 18.69 | 13.11 | 43.44 | 9.91 | 5.87 | 1.79 | -85.6 | -1.54 | 0 | -1.66 | 0 | -0.24 | 0 | 0.23 | -8.0 | 16.69 | -36.27 | 397.07 | 10.89 | 732.32 | 895.24 | -632.32 | 0 | 0.20 | -5.87 | 12.37 | 5.1 |
| 2021 (8) | 30.01 | 33.14 | 9.14 | 0 | 9.36 | -4.45 | 12.43 | 79.37 | 9.92 | 69.28 | 11.42 | 43.83 | 2.60 | 45.25 | 0.25 | -7.41 | 26.19 | 24.95 | 358.08 | -1.75 | 73.58 | 0 | 26.42 | -78.22 | 0.21 | -22.24 | 11.77 | 6.71 |
| 2020 (7) | 22.54 | 237.43 | -1.48 | 0 | 9.80 | 7.06 | 6.93 | 0 | 5.86 | 0 | 7.94 | 0 | 1.79 | 0 | 0.27 | 0.0 | 20.96 | 0 | 364.46 | -18.99 | -21.28 | 0 | 121.28 | 0 | 0.27 | -87.63 | 11.03 | -7.93 |
| 2019 (6) | 6.68 | -68.96 | -35.93 | 0 | 9.15 | 18.28 | -27.39 | 0 | -28.67 | 0 | -34.68 | 0 | -7.46 | 0 | 0.27 | -10.0 | -14.07 | 0 | 449.90 | 61.33 | 131.19 | 250.09 | -31.19 | 0 | 2.16 | -37.64 | 11.98 | 23.38 |
| 2018 (5) | 21.52 | 1.22 | 2.29 | 13.37 | 7.74 | 8.88 | 6.11 | 38.86 | 4.37 | 33.64 | 4.70 | 20.82 | 1.47 | 6.52 | 0.30 | -23.08 | 16.82 | 32.86 | 278.87 | 23.06 | 37.47 | -18.26 | 62.53 | 15.45 | 3.46 | 29.91 | 9.71 | 23.38 |
| 2017 (4) | 21.26 | 24.18 | 2.02 | 2.02 | 7.10 | 18.37 | 4.40 | 61.17 | 3.27 | 105.66 | 3.89 | 75.23 | 1.38 | 46.81 | 0.39 | -25.0 | 12.66 | 29.58 | 226.61 | 25.99 | 45.84 | -36.84 | 54.16 | 97.54 | 2.66 | 0 | 7.87 | 23.35 |
| 2016 (3) | 17.12 | 16.78 | 1.98 | 760.87 | 6.00 | 12.18 | 2.73 | -29.46 | 1.59 | -50.31 | 2.22 | -54.32 | 0.94 | -54.15 | 0.52 | -11.86 | 9.77 | -4.12 | 179.87 | 11.62 | 72.58 | 1128.24 | 27.42 | -70.86 | 0.00 | 0 | 6.38 | 13.93 |
| 2015 (2) | 14.66 | 1.88 | 0.23 | -32.35 | 5.35 | -0.25 | 3.87 | 29.43 | 3.20 | 37.34 | 4.86 | 36.13 | 2.05 | 24.24 | 0.59 | -7.81 | 10.19 | 13.35 | 161.15 | 5.27 | 5.91 | -47.7 | 94.09 | 6.11 | 0.00 | 0 | 5.60 | 2.94 |
| 2014 (1) | 14.39 | 0 | 0.34 | 0 | 5.36 | -20.46 | 2.99 | 0 | 2.33 | 0 | 3.57 | 0 | 1.65 | 0 | 0.64 | 20.75 | 8.99 | -19.3 | 153.08 | 20.09 | 11.30 | 0 | 88.67 | -20.34 | 0.00 | 0 | 5.44 | -15.92 |
