- 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) | 19.13 | -20.89 | -43.93 | -19.79 | -120.87 | -338.15 | -19.44 | -214.56 | -368.51 | -17.34 | -209.64 | -359.97 | -2.07 | -149.4 | -278.45 | -1.21 | -175.0 | -257.14 | 0.07 | -22.22 | -36.36 | -0.12 | -101.33 | -100.59 | 61.01 | -2.83 | 2.61 | 101.77 | -29.76 | -11.32 | -1.77 | 96.05 | 88.0 | 29.46 | 19.22 | 43.08 |
| 23Q3 (19) | 24.18 | -14.56 | -45.31 | -8.96 | -300.0 | -142.52 | -6.18 | -651.79 | -124.96 | -5.60 | -683.33 | -125.7 | -0.83 | -692.86 | -116.7 | -0.44 | -393.33 | -114.62 | 0.09 | 0.0 | -35.71 | 9.05 | -43.65 | -74.35 | 62.79 | -3.76 | -2.67 | 144.89 | 172.44 | 70.25 | -44.89 | -114.96 | -401.38 | 24.71 | 2.87 | 18.63 |
| 23Q2 (18) | 28.30 | 12.57 | -41.27 | -2.24 | 63.75 | -108.52 | 1.12 | 120.51 | -96.25 | 0.96 | 119.2 | -96.29 | 0.14 | 120.59 | -97.65 | 0.15 | 141.67 | -95.89 | 0.09 | 0.0 | -35.71 | 16.06 | 51.08 | -60.23 | 65.24 | 17.8 | -8.49 | -200.00 | -276.77 | -327.45 | 300.00 | 2382.35 | 2385.82 | 24.02 | -5.1 | 13.3 |
| 23Q1 (17) | 25.14 | -26.32 | -47.97 | -6.18 | -174.37 | -122.28 | -5.46 | -175.41 | -118.59 | -5.00 | -174.96 | -119.8 | -0.68 | -158.62 | -111.2 | -0.36 | -146.75 | -109.45 | 0.09 | -18.18 | -40.0 | 10.63 | -47.51 | -73.06 | 55.38 | -6.86 | -6.15 | 113.14 | -1.41 | 19.75 | -13.14 | 10.97 | -338.14 | 25.31 | 22.92 | 21.8 |
| 22Q4 (16) | 34.12 | -22.82 | -27.7 | 8.31 | -60.56 | -70.48 | 7.24 | -70.76 | -73.94 | 6.67 | -69.39 | -73.72 | 1.16 | -76.66 | -85.91 | 0.77 | -74.42 | -84.51 | 0.11 | -21.43 | -42.11 | 20.25 | -42.6 | -43.36 | 59.46 | -7.83 | -7.34 | 114.76 | 34.85 | 13.28 | -14.76 | -199.13 | -1025.69 | 20.59 | -1.15 | 21.05 |
| 22Q3 (15) | 44.21 | -8.26 | 3.1 | 21.07 | -19.82 | -9.76 | 24.76 | -17.16 | -39.43 | 21.79 | -15.84 | -39.91 | 4.97 | -16.47 | -62.32 | 3.01 | -17.53 | -61.36 | 0.14 | 0.0 | -33.33 | 35.28 | -12.63 | -27.26 | 64.51 | -9.51 | -9.46 | 85.11 | -3.21 | 48.99 | 14.89 | 23.42 | -65.26 | 20.83 | -1.75 | 6.88 |
| 22Q2 (14) | 48.19 | -0.27 | 23.31 | 26.28 | -5.26 | 30.29 | 29.89 | 1.77 | 57.07 | 25.89 | 2.53 | 53.65 | 5.95 | -1.98 | 18.53 | 3.65 | -4.2 | 21.67 | 0.14 | -6.67 | -17.65 | 40.38 | 2.33 | 40.26 | 71.29 | 20.81 | 1.64 | 87.93 | -6.93 | -17.07 | 12.07 | 118.64 | 300.28 | 21.20 | 2.02 | 15.53 |
| 22Q1 (13) | 48.32 | 2.39 | 40.92 | 27.74 | -1.46 | 128.69 | 29.37 | 5.72 | 185.42 | 25.25 | -0.51 | 165.23 | 6.07 | -26.25 | 143.78 | 3.81 | -23.34 | 155.7 | 0.15 | -21.05 | 0.0 | 39.46 | 10.38 | 81.18 | 59.01 | -8.04 | -18.85 | 94.48 | -6.74 | -19.84 | 5.52 | 520.85 | 130.9 | 20.78 | 22.16 | -1.98 |
| 21Q4 (12) | 47.19 | 10.05 | 45.83 | 28.15 | 20.56 | 98.94 | 27.78 | -32.05 | 108.56 | 25.38 | -30.01 | 123.02 | 8.23 | -37.6 | 152.45 | 4.97 | -36.2 | 164.36 | 0.19 | -9.52 | 18.75 | 35.75 | -26.29 | 49.39 | 64.17 | -9.94 | -21.79 | 101.31 | 77.36 | -4.61 | -1.31 | -103.06 | 78.87 | 17.01 | -12.72 | -3.63 |
| 21Q3 (11) | 42.88 | 9.72 | 19.44 | 23.35 | 15.77 | 36.79 | 40.88 | 114.82 | 140.61 | 36.26 | 115.19 | 145.5 | 13.19 | 162.75 | 175.94 | 7.79 | 159.67 | 187.45 | 0.21 | 23.53 | 16.67 | 48.50 | 68.46 | 82.95 | 71.25 | 1.58 | -11.2 | 57.12 | -46.12 | -43.15 | 42.88 | 811.58 | 8966.25 | 19.49 | 6.21 | 6.91 |
| 21Q2 (10) | 39.08 | 13.97 | 11.72 | 20.17 | 66.28 | 34.29 | 19.03 | 84.94 | 25.94 | 16.85 | 77.0 | 17.5 | 5.02 | 101.61 | 24.88 | 3.00 | 101.34 | 30.43 | 0.17 | 13.33 | 6.25 | 28.79 | 32.19 | 11.5 | 70.14 | -3.55 | -17.15 | 106.03 | -10.04 | 6.56 | -6.03 | 66.26 | -1154.51 | 18.35 | -13.44 | -9.29 |
| 21Q1 (9) | 34.29 | 5.96 | 9.62 | 12.13 | -14.28 | -2.1 | 10.29 | -22.75 | -21.03 | 9.52 | -16.34 | -26.66 | 2.49 | -23.62 | -33.06 | 1.49 | -20.74 | -29.72 | 0.15 | -6.25 | -6.25 | 21.78 | -8.98 | -2.55 | 72.72 | -11.37 | -5.05 | 117.86 | 10.97 | 23.93 | -17.86 | -187.69 | -464.95 | 21.20 | 20.11 | 9.22 |
| 20Q4 (8) | 32.36 | -9.86 | 23.75 | 14.15 | -17.11 | 77.99 | 13.32 | -21.6 | 114.84 | 11.38 | -22.95 | 44.6 | 3.26 | -31.8 | 38.72 | 1.88 | -30.63 | 46.87 | 0.16 | -11.11 | 6.67 | 23.93 | -9.73 | 63.23 | 82.05 | 2.26 | -5.34 | 106.21 | 5.7 | -17.21 | -6.21 | -1183.76 | 78.05 | 17.65 | -3.18 | -0.4 |
| 20Q3 (7) | 35.90 | 2.63 | 19.55 | 17.07 | 13.65 | 14.26 | 16.99 | 12.44 | 8.91 | 14.77 | 3.0 | -5.08 | 4.78 | 18.91 | -20.86 | 2.71 | 17.83 | -7.51 | 0.18 | 12.5 | 0.0 | 26.51 | 2.67 | 21.22 | 80.24 | -5.22 | -20.81 | 100.48 | 0.99 | 4.95 | -0.48 | -184.63 | -111.37 | 18.23 | -9.89 | 14.73 |
| 20Q2 (6) | 34.98 | 11.83 | 30.62 | 15.02 | 21.23 | 137.66 | 15.11 | 15.96 | 162.78 | 14.34 | 10.48 | 306.23 | 4.02 | 8.06 | 367.44 | 2.30 | 8.49 | 379.17 | 0.16 | 0.0 | 33.33 | 25.82 | 15.53 | 70.09 | 84.66 | 10.54 | -29.39 | 99.50 | 4.62 | -9.55 | 0.57 | -88.32 | 105.71 | 20.23 | 4.22 | -2.88 |
| 20Q1 (5) | 31.28 | 19.62 | 23.15 | 12.39 | 55.85 | 772.54 | 13.03 | 110.16 | 445.19 | 12.98 | 64.93 | 452.34 | 3.72 | 58.3 | 726.67 | 2.12 | 65.62 | 631.03 | 0.16 | 6.67 | 60.0 | 22.35 | 52.46 | 66.29 | 76.59 | -11.64 | -14.64 | 95.11 | -25.86 | 59.25 | 4.89 | 117.3 | -88.06 | 19.41 | 9.54 | -21.54 |
| 19Q4 (4) | 26.15 | -12.92 | 0.0 | 7.95 | -46.79 | 0.0 | 6.20 | -60.26 | 0.0 | 7.87 | -49.42 | 0.0 | 2.35 | -61.09 | 0.0 | 1.28 | -56.31 | 0.0 | 0.15 | -16.67 | 0.0 | 14.66 | -32.97 | 0.0 | 86.68 | -14.45 | 0.0 | 128.28 | 33.98 | 0.0 | -28.28 | -764.83 | 0.0 | 17.72 | 11.52 | 0.0 |
| 19Q3 (3) | 30.03 | 12.14 | 0.0 | 14.94 | 136.39 | 0.0 | 15.60 | 171.3 | 0.0 | 15.56 | 340.79 | 0.0 | 6.04 | 602.33 | 0.0 | 2.93 | 510.42 | 0.0 | 0.18 | 50.0 | 0.0 | 21.87 | 44.07 | 0.0 | 101.32 | -15.49 | 0.0 | 95.75 | -12.96 | 0.0 | 4.25 | 142.54 | 0.0 | 15.89 | -23.72 | 0.0 |
| 19Q2 (2) | 26.78 | 5.43 | 0.0 | 6.32 | 345.07 | 0.0 | 5.75 | 140.59 | 0.0 | 3.53 | 50.21 | 0.0 | 0.86 | 91.11 | 0.0 | 0.48 | 65.52 | 0.0 | 0.12 | 20.0 | 0.0 | 15.18 | 12.95 | 0.0 | 119.89 | 33.61 | 0.0 | 110.00 | 84.19 | 0.0 | -10.00 | -124.41 | 0.0 | 20.83 | -15.8 | 0.0 |
| 19Q1 (1) | 25.40 | 0.0 | 0.0 | 1.42 | 0.0 | 0.0 | 2.39 | 0.0 | 0.0 | 2.35 | 0.0 | 0.0 | 0.45 | 0.0 | 0.0 | 0.29 | 0.0 | 0.0 | 0.10 | 0.0 | 0.0 | 13.44 | 0.0 | 0.0 | 89.73 | 0.0 | 0.0 | 59.72 | 0.0 | 0.0 | 40.97 | 0.0 | 0.0 | 24.74 | 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) | 24.47 | -44.69 | -8.71 | 0 | 14.99 | 45.7 | -6.82 | 0 | -6.15 | 0 | -3.37 | 0 | -1.84 | 0 | 0.34 | -37.04 | 9.41 | -72.8 | 61.01 | 2.61 | 127.76 | 40.35 | -27.76 | 0 | 0.15 | -1.6 | 25.68 | 23.11 |
| 2022 (9) | 44.24 | 6.3 | 21.54 | -1.55 | 10.29 | 22.71 | 23.67 | -10.17 | 20.63 | -12.77 | 18.06 | -37.4 | 11.38 | -33.22 | 0.54 | -23.94 | 34.59 | -1.98 | 59.46 | -7.34 | 91.03 | 9.66 | 8.97 | -47.21 | 0.15 | 18.77 | 20.86 | 10.66 |
| 2021 (8) | 41.62 | 23.54 | 21.88 | 48.44 | 8.38 | -10.15 | 26.35 | 79.5 | 23.65 | 76.76 | 28.85 | 86.01 | 17.04 | 95.19 | 0.71 | 12.7 | 35.29 | 42.82 | 64.17 | -21.79 | 83.01 | -17.34 | 16.99 | 0 | 0.13 | 46.18 | 18.85 | 0.11 |
| 2020 (7) | 33.69 | 22.6 | 14.74 | 66.37 | 9.33 | 21.05 | 14.68 | 69.71 | 13.38 | 55.4 | 15.51 | 64.3 | 8.73 | 64.72 | 0.63 | 8.62 | 24.71 | 45.27 | 82.05 | -5.34 | 100.43 | -1.94 | -0.43 | 0 | 0.09 | 11.64 | 18.83 | -0.74 |
| 2019 (6) | 27.48 | -27.09 | 8.86 | -49.72 | 7.71 | 36.07 | 8.65 | -65.5 | 8.61 | -64.63 | 9.44 | -70.6 | 5.30 | -69.95 | 0.58 | -19.44 | 17.01 | -45.48 | 86.68 | -1.82 | 102.41 | 45.76 | -2.41 | 0 | 0.08 | 1.68 | 18.97 | -9.06 |
| 2018 (5) | 37.69 | 2.0 | 17.62 | 4.76 | 5.66 | -0.37 | 25.07 | 54.85 | 24.34 | 50.9 | 32.11 | 25.04 | 17.64 | 23.44 | 0.72 | -16.28 | 31.20 | 38.11 | 88.29 | 11.42 | 70.26 | -32.39 | 29.74 | 0 | 0.08 | 0 | 20.86 | -1.51 |
| 2017 (4) | 36.95 | 52.75 | 16.82 | 0 | 5.68 | -29.89 | 16.19 | 0 | 16.13 | 0 | 25.68 | 0 | 14.29 | 71350.0 | 0.86 | 30.3 | 22.59 | 190.73 | 79.24 | -15.73 | 103.92 | 36.72 | -3.92 | 0 | 0.00 | 0 | 21.18 | -13.55 |
| 2016 (3) | 24.19 | 101.58 | -1.48 | 0 | 8.11 | -70.35 | -1.95 | 0 | -1.02 | 0 | -1.34 | 0 | 0.02 | 0 | 0.66 | 29.41 | 7.77 | -19.57 | 94.03 | -9.74 | 76.01 | -36.49 | 23.99 | 0 | 0.00 | 0 | 24.50 | -17.84 |
| 2015 (2) | 12.00 | -7.05 | -23.91 | 0 | 27.34 | -16.23 | -19.98 | 0 | -20.05 | 0 | -20.45 | 0 | -9.57 | 0 | 0.51 | 13.33 | 9.66 | 56.56 | 104.18 | 5.91 | 119.68 | 22.47 | -19.68 | 0 | 0.00 | 0 | 29.82 | 8.75 |
| 2014 (1) | 12.91 | 0 | -28.18 | 0 | 32.64 | -3.65 | -28.83 | 0 | -28.89 | 0 | -25.23 | 0 | -12.63 | 0 | 0.45 | 18.42 | 6.17 | -20.59 | 98.37 | 11.67 | 97.73 | -2.32 | 2.27 | 0 | 0.00 | 0 | 27.42 | -3.92 |
