- 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) | 58.66 | 5.54 | 15.06 | 4.27 | 484.68 | 207.56 | 0.13 | -98.01 | 103.06 | 1.83 | -66.11 | 169.85 | 0.34 | -69.37 | 162.96 | 0.30 | -62.96 | 196.77 | 0.13 | -7.14 | -7.14 | 6.79 | -46.66 | 301.78 | 39.52 | -11.65 | -20.06 | 3300.00 | 18580.0 | 3482.86 | -3200.00 | -2815.15 | -40633.33 | 37.01 | -13.93 | 1.15 |
| 23Q3 (19) | 55.58 | 2.58 | 14.93 | -1.11 | 74.48 | -311.11 | 6.52 | -59.15 | -22.29 | 5.40 | -61.81 | -8.32 | 1.11 | -63.37 | -20.14 | 0.81 | -61.61 | -13.83 | 0.14 | 0.0 | -6.67 | 12.73 | -42.06 | -6.88 | 44.73 | -9.8 | -9.21 | -17.86 | 34.98 | -394.05 | 117.86 | -7.54 | 13.75 | 43.00 | -0.56 | 23.0 |
| 23Q2 (18) | 54.18 | 3.79 | 5.04 | -4.35 | 58.77 | -147.49 | 15.96 | 255.71 | 48.88 | 14.14 | 265.19 | 57.64 | 3.03 | 311.89 | 24.18 | 2.11 | 331.87 | 30.25 | 0.14 | 27.27 | -22.22 | 21.97 | 913.7 | 45.5 | 49.59 | 6.23 | -18.45 | -27.46 | -126.72 | -132.43 | 127.46 | 4688.73 | 778.09 | 43.24 | -5.94 | 39.71 |
| 23Q1 (17) | 52.20 | 2.39 | 8.43 | -10.55 | -165.74 | -1801.61 | -10.25 | -141.18 | -282.06 | -8.56 | -226.72 | -236.74 | -1.43 | -164.81 | -202.88 | -0.91 | -193.55 | -193.81 | 0.11 | -21.43 | -26.67 | -2.70 | -259.76 | -124.93 | 46.68 | -5.58 | -4.85 | 102.78 | 11.59 | 807.87 | -2.78 | -135.19 | -103.13 | 45.97 | 25.64 | 32.71 |
| 22Q4 (16) | 50.98 | 5.42 | -0.82 | -3.97 | -1370.37 | -144.76 | -4.25 | -150.66 | -164.79 | -2.62 | -144.48 | -281.94 | -0.54 | -138.85 | -254.29 | -0.31 | -132.98 | -219.23 | 0.14 | -6.67 | -12.5 | 1.69 | -87.64 | -84.87 | 49.44 | 0.35 | -1.87 | 92.11 | 2648.25 | -32.46 | 7.89 | -92.38 | 122.65 | 36.59 | 4.66 | 47.9 |
| 22Q3 (15) | 48.36 | -6.24 | 8.97 | -0.27 | -102.95 | -105.99 | 8.39 | -21.74 | 28.88 | 5.89 | -34.34 | 114.96 | 1.39 | -43.03 | 107.46 | 0.94 | -41.98 | 95.83 | 0.15 | -16.67 | -11.76 | 13.67 | -9.47 | 33.11 | 49.27 | -18.98 | -18.94 | -3.61 | -104.27 | -105.24 | 103.61 | 613.79 | 233.37 | 34.96 | 12.96 | 15.19 |
| 22Q2 (14) | 51.58 | 7.15 | 6.28 | 9.16 | 1377.42 | -28.38 | 10.72 | 90.41 | -12.77 | 8.97 | 43.29 | -14.16 | 2.44 | 75.54 | -2.79 | 1.62 | 67.01 | -13.37 | 0.18 | 20.0 | 0.0 | 15.10 | 39.43 | -2.14 | 60.81 | 23.95 | 78.22 | 84.68 | 647.98 | -18.42 | 14.52 | -83.63 | 482.26 | 30.95 | -10.65 | 12.63 |
| 22Q1 (13) | 48.14 | -6.34 | -9.41 | 0.62 | -93.01 | -96.57 | 5.63 | -14.18 | -66.94 | 6.26 | 334.72 | -57.59 | 1.39 | 297.14 | -58.51 | 0.97 | 273.08 | -60.25 | 0.15 | -6.25 | -6.25 | 10.83 | -3.04 | -45.8 | 49.06 | -2.62 | 34.26 | 11.32 | -91.7 | -89.32 | 88.68 | 354.47 | 1587.08 | 34.64 | 40.02 | 31.86 |
| 21Q4 (12) | 51.40 | 15.82 | -0.96 | 8.87 | 96.67 | -62.62 | 6.56 | 0.77 | -72.13 | 1.44 | -47.45 | -92.53 | 0.35 | -47.76 | -95.49 | 0.26 | -45.83 | -95.07 | 0.16 | -5.88 | -40.74 | 11.17 | 8.76 | -55.64 | 50.38 | -17.11 | 26.42 | 136.36 | 97.86 | 35.32 | -34.85 | -212.12 | -4404.17 | 24.74 | -18.48 | 43.34 |
| 21Q3 (11) | 44.38 | -8.55 | -20.39 | 4.51 | -64.74 | -87.7 | 6.51 | -47.03 | -82.29 | 2.74 | -73.78 | -91.51 | 0.67 | -73.31 | -96.86 | 0.48 | -74.33 | -96.76 | 0.17 | -5.56 | -63.04 | 10.27 | -33.44 | -72.92 | 60.78 | 78.14 | 8.46 | 68.92 | -33.6 | -30.96 | 31.08 | 918.47 | 17507.43 | 30.35 | 10.44 | 101.39 |
| 21Q2 (10) | 48.53 | -8.68 | -7.68 | 12.79 | -29.14 | -28.15 | 12.29 | -27.83 | -32.51 | 10.45 | -29.2 | -38.49 | 2.51 | -25.07 | -45.67 | 1.87 | -23.36 | -50.27 | 0.18 | 12.5 | -18.18 | 15.43 | -22.77 | -28.1 | 34.12 | -6.62 | 16.61 | 103.80 | -2.04 | 5.89 | -3.80 | 36.32 | -253.42 | 27.48 | 4.61 | 0 |
| 21Q1 (9) | 53.14 | 2.39 | 1.03 | 18.05 | -23.94 | 9927.78 | 17.03 | -27.66 | 991.67 | 14.76 | -23.48 | 852.26 | 3.35 | -56.83 | 1188.46 | 2.44 | -53.7 | 916.67 | 0.16 | -40.74 | 14.29 | 19.98 | -20.65 | 187.9 | 36.54 | -8.31 | 114.44 | 105.96 | 5.15 | 959.63 | -5.96 | -670.76 | -106.63 | 26.27 | 52.2 | -28.92 |
| 20Q4 (8) | 51.90 | -6.91 | -8.08 | 23.73 | -35.31 | 195.89 | 23.54 | -35.95 | 171.2 | 19.29 | -40.26 | 131.85 | 7.76 | -63.6 | 376.07 | 5.27 | -64.42 | 284.67 | 0.27 | -41.3 | 68.75 | 25.18 | -33.6 | 90.9 | 39.85 | -28.89 | 91.4 | 100.77 | 0.95 | 8.77 | -0.77 | -538.3 | -110.52 | 17.26 | 14.53 | 0 |
| 20Q3 (7) | 55.75 | 6.05 | 9.87 | 36.68 | 106.07 | 1810.42 | 36.75 | 101.81 | 1341.18 | 32.29 | 90.05 | 1475.12 | 21.32 | 361.47 | 5366.67 | 14.81 | 293.88 | 4131.43 | 0.46 | 109.09 | 187.5 | 37.92 | 76.7 | 430.35 | 56.04 | 91.52 | 177.15 | 99.82 | 1.84 | 35.47 | 0.18 | -92.87 | -99.33 | 15.07 | 0 | -54.69 |
| 20Q2 (6) | 52.57 | -0.06 | 0.96 | 17.80 | 9788.89 | 528.98 | 18.21 | 1067.31 | 240.37 | 16.99 | 996.13 | 235.77 | 4.62 | 1676.92 | 381.25 | 3.76 | 1466.67 | 358.54 | 0.22 | 57.14 | 37.5 | 21.46 | 209.22 | 120.1 | 29.26 | 71.71 | 34.59 | 98.02 | 880.2 | 86.7 | 2.48 | -97.25 | -94.79 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 52.60 | -6.84 | 28.39 | 0.18 | -97.76 | 101.4 | 1.56 | -82.03 | 112.97 | 1.55 | -81.37 | 112.95 | 0.26 | -84.05 | 113.07 | 0.24 | -82.48 | 114.46 | 0.14 | -12.5 | 0.0 | 6.94 | -47.38 | 193.78 | 17.04 | -18.16 | -8.49 | 10.00 | -89.21 | -90.59 | 90.00 | 1124.0 | 1300.0 | 36.96 | 0 | -1.52 |
| 19Q4 (4) | 56.46 | 11.27 | 0.0 | 8.02 | 317.71 | 0.0 | 8.68 | 240.39 | 0.0 | 8.32 | 305.85 | 0.0 | 1.63 | 317.95 | 0.0 | 1.37 | 291.43 | 0.0 | 0.16 | 0.0 | 0.0 | 13.19 | 84.48 | 0.0 | 20.82 | 2.97 | 0.0 | 92.65 | 25.74 | 0.0 | 7.35 | -72.06 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 50.74 | -2.55 | 0.0 | 1.92 | -32.16 | 0.0 | 2.55 | -52.34 | 0.0 | 2.05 | -59.49 | 0.0 | 0.39 | -59.38 | 0.0 | 0.35 | -57.32 | 0.0 | 0.16 | 0.0 | 0.0 | 7.15 | -26.67 | 0.0 | 20.22 | -6.99 | 0.0 | 73.68 | 40.35 | 0.0 | 26.32 | -44.6 | 0.0 | 33.26 | 4.3 | 0.0 |
| 19Q2 (2) | 52.07 | 27.09 | 0.0 | 2.83 | 121.97 | 0.0 | 5.35 | 144.47 | 0.0 | 5.06 | 142.27 | 0.0 | 0.96 | 148.24 | 0.0 | 0.82 | 149.4 | 0.0 | 0.16 | 14.29 | 0.0 | 9.75 | 231.76 | 0.0 | 21.74 | 16.76 | 0.0 | 52.50 | -50.59 | 0.0 | 47.50 | 733.33 | 0.0 | 31.89 | -15.03 | 0.0 |
| 19Q1 (1) | 40.97 | 0.0 | 0.0 | -12.88 | 0.0 | 0.0 | -12.03 | 0.0 | 0.0 | -11.97 | 0.0 | 0.0 | -1.99 | 0.0 | 0.0 | -1.66 | 0.0 | 0.0 | 0.14 | 0.0 | 0.0 | -7.40 | 0.0 | 0.0 | 18.62 | 0.0 | 0.0 | 106.25 | 0.0 | 0.0 | -7.50 | 0.0 | 0.0 | 37.53 | 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) | 55.20 | 10.8 | -2.76 | 0 | 5.34 | 23.37 | 3.94 | -29.52 | 3.92 | -21.29 | 3.00 | -35.9 | 2.31 | -30.0 | 0.53 | -15.87 | 10.46 | -2.61 | 39.52 | -20.06 | -69.53 | 0 | 169.53 | 152.59 | 0.39 | -29.14 | 42.27 | 24.0 |
| 2022 (9) | 49.82 | 0.85 | 1.85 | -83.74 | 4.33 | 34.26 | 5.59 | -48.95 | 4.98 | -36.32 | 4.68 | -37.1 | 3.30 | -37.14 | 0.63 | -4.55 | 10.74 | -25.98 | 49.44 | -1.87 | 33.33 | -67.91 | 67.12 | 0 | 0.55 | -13.09 | 34.09 | 25.06 |
| 2021 (8) | 49.40 | -8.11 | 11.38 | -56.63 | 3.22 | 69.63 | 10.95 | -58.54 | 7.82 | -65.91 | 7.44 | -77.61 | 5.25 | -79.21 | 0.66 | -40.0 | 14.51 | -49.0 | 50.38 | 26.42 | 103.88 | 4.55 | -3.88 | 0 | 0.63 | 407.33 | 27.26 | 40.88 |
| 2020 (7) | 53.76 | 6.67 | 26.24 | 5863.64 | 1.90 | -55.2 | 26.41 | 1540.37 | 22.94 | 1637.88 | 33.23 | 3325.77 | 25.25 | 2674.73 | 1.10 | 80.33 | 28.45 | 363.36 | 39.85 | 91.4 | 99.36 | 259.21 | 0.64 | -99.11 | 0.13 | -24.14 | 19.35 | -42.26 |
| 2019 (6) | 50.40 | 2.52 | 0.44 | 0 | 4.24 | 26.39 | 1.61 | 3.87 | 1.32 | 34.69 | 0.97 | 42.65 | 0.91 | 56.9 | 0.61 | 3.39 | 6.14 | 23.79 | 20.82 | 17.23 | 27.66 | 0 | 72.34 | -29.3 | 0.16 | 30.72 | 33.51 | 1.39 |
| 2018 (5) | 49.16 | -3.97 | -0.01 | 0 | 3.36 | -18.91 | 1.55 | 0 | 0.98 | 0 | 0.68 | 0 | 0.58 | 0 | 0.59 | 11.32 | 4.96 | 40.11 | 17.76 | 13.34 | 0.00 | 0 | 102.33 | 0 | 0.13 | -2.12 | 33.05 | -14.09 |
| 2017 (4) | 51.19 | 1.25 | -2.34 | 0 | 4.14 | -1.31 | -0.69 | 0 | -1.45 | 0 | -0.88 | 0 | -0.76 | 0 | 0.53 | 3.92 | 3.54 | -16.31 | 15.67 | -8.36 | 347.06 | -68.45 | -241.18 | 0 | 0.13 | 0 | 38.47 | -2.76 |
| 2016 (3) | 50.56 | 12.33 | -0.88 | 0 | 4.19 | -23.84 | -0.08 | 0 | -1.21 | 0 | -0.71 | 0 | -0.61 | 0 | 0.51 | 18.6 | 4.23 | 0 | 17.10 | 11.69 | 1100.00 | 884.57 | -1000.00 | 0 | 0.00 | 0 | 39.56 | -13.09 |
| 2015 (2) | 45.01 | -3.23 | -14.50 | 0 | 5.51 | 10.75 | -12.97 | 0 | -12.83 | 0 | -6.30 | 0 | -5.48 | 0 | 0.43 | -23.21 | -6.94 | 0 | 15.31 | 5.51 | 111.72 | -19.72 | -11.72 | 0 | 0.00 | 0 | 45.52 | 9.74 |
| 2014 (1) | 46.51 | 0 | -6.34 | 0 | 4.97 | -0.57 | -4.55 | 0 | -5.11 | 0 | -3.24 | 0 | -2.88 | 0 | 0.56 | 107.41 | 0.99 | 0 | 14.51 | 53.71 | 139.17 | 7.22 | -39.17 | 0 | 0.00 | 0 | 41.48 | -5.01 |
