- 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) | 11.22 | -13.43 | -8.71 | 7.75 | -18.85 | -19.35 | 9.40 | 21.6 | -12.31 | 7.66 | 33.22 | -12.26 | 3.47 | 46.41 | -17.58 | 1.40 | 40.0 | -24.73 | 0.17 | 6.25 | -15.0 | 10.16 | 19.25 | -14.04 | 159.02 | -0.82 | 12.83 | 82.47 | -33.33 | -8.11 | 17.53 | 175.0 | 70.97 | 5.61 | -8.18 | 18.86 |
| 23Q3 (19) | 12.96 | -2.48 | 25.46 | 9.55 | -6.56 | 22.12 | 7.73 | -37.21 | 31.91 | 5.75 | -43.46 | 38.55 | 2.37 | -41.04 | 12.32 | 1.00 | -39.39 | 11.11 | 0.16 | 0.0 | -23.81 | 8.52 | -34.56 | 30.28 | 160.34 | 12.18 | 11.89 | 123.71 | 48.99 | -7.39 | -23.37 | -237.71 | 29.63 | 6.11 | -3.17 | 16.83 |
| 23Q2 (18) | 13.29 | 36.45 | -22.01 | 10.22 | 90.32 | -29.27 | 12.31 | 17.13 | 24.72 | 10.17 | 16.36 | 45.49 | 4.02 | 39.1 | 12.29 | 1.65 | 36.36 | 13.79 | 0.16 | 23.08 | -20.0 | 13.02 | 14.31 | 24.71 | 142.93 | -7.58 | -3.76 | 83.03 | 62.5 | -43.26 | 16.97 | -65.3 | 136.62 | 6.31 | -16.75 | 9.36 |
| 23Q1 (17) | 9.74 | -20.75 | -32.41 | 5.37 | -44.12 | -45.54 | 10.51 | -1.96 | 15.24 | 8.74 | 0.11 | 19.4 | 2.89 | -31.35 | -9.69 | 1.21 | -34.95 | -7.63 | 0.13 | -35.0 | -23.53 | 11.39 | -3.64 | 15.63 | 154.65 | 9.73 | -2.1 | 51.10 | -43.07 | -52.88 | 48.90 | 377.05 | 700.81 | 7.58 | 60.59 | 17.88 |
| 22Q4 (16) | 12.29 | 18.97 | -5.46 | 9.61 | 22.89 | 7.37 | 10.72 | 82.94 | 4.79 | 8.73 | 110.36 | 4.18 | 4.21 | 99.53 | -0.24 | 1.86 | 106.67 | 10.06 | 0.20 | -4.76 | 0.0 | 11.82 | 80.73 | 9.34 | 140.94 | -1.65 | -5.09 | 89.75 | -32.82 | 2.64 | 10.25 | 130.87 | -18.36 | 4.72 | -9.75 | -16.46 |
| 22Q3 (15) | 10.33 | -39.38 | -18.21 | 7.82 | -45.88 | -11.04 | 5.86 | -40.63 | -28.36 | 4.15 | -40.63 | -33.6 | 2.11 | -41.06 | -17.9 | 0.90 | -37.93 | -10.89 | 0.21 | 5.0 | 31.25 | 6.54 | -37.36 | -26.19 | 143.30 | -3.51 | -12.12 | 133.58 | -8.71 | 24.3 | -33.21 | 28.32 | -344.35 | 5.23 | -9.36 | -28.65 |
| 22Q2 (14) | 17.04 | 18.25 | -7.69 | 14.45 | 46.55 | 0.07 | 9.87 | 8.22 | -28.74 | 6.99 | -4.51 | -32.98 | 3.58 | 11.87 | -30.35 | 1.45 | 10.69 | -29.61 | 0.20 | 17.65 | 5.26 | 10.44 | 5.99 | -27.3 | 148.52 | -5.98 | -5.74 | 146.33 | 34.95 | 40.43 | -46.33 | -469.2 | -1001.85 | 5.77 | -10.26 | -5.56 |
| 22Q1 (13) | 14.41 | 10.85 | 35.82 | 9.86 | 10.17 | 48.94 | 9.12 | -10.85 | 6.67 | 7.32 | -12.65 | 3.68 | 3.20 | -24.17 | 19.4 | 1.31 | -22.49 | 14.91 | 0.17 | -15.0 | 6.25 | 9.85 | -8.88 | 6.26 | 157.96 | 6.37 | 7.08 | 108.43 | 24.0 | 39.79 | -8.14 | -164.83 | -136.28 | 6.43 | 13.81 | -15.06 |
| 21Q4 (12) | 13.00 | 2.93 | -1.66 | 8.95 | 1.82 | -1.21 | 10.23 | 25.06 | 6.9 | 8.38 | 34.08 | 6.48 | 4.22 | 64.2 | -0.94 | 1.69 | 67.33 | -8.65 | 0.20 | 25.0 | -13.04 | 10.81 | 22.01 | 6.82 | 148.50 | -8.93 | 8.74 | 87.44 | -18.64 | -7.55 | 12.56 | 268.01 | 132.01 | 5.65 | -22.92 | -8.58 |
| 21Q3 (11) | 12.63 | -31.58 | 100.79 | 8.79 | -39.13 | 170.46 | 8.18 | -40.94 | 79.39 | 6.25 | -40.08 | 76.55 | 2.57 | -50.0 | 73.65 | 1.01 | -50.97 | 55.38 | 0.16 | -15.79 | -11.11 | 8.86 | -38.3 | 72.04 | 163.06 | 3.48 | 19.53 | 107.47 | 3.14 | 50.66 | -7.47 | -77.73 | -126.07 | 7.33 | 19.97 | 30.2 |
| 21Q2 (10) | 18.46 | 73.99 | 39.64 | 14.44 | 118.13 | 31.99 | 13.85 | 61.99 | 22.35 | 10.43 | 47.73 | 0.87 | 5.14 | 91.79 | -25.29 | 2.06 | 80.7 | -31.1 | 0.19 | 18.75 | -34.48 | 14.36 | 54.91 | 23.16 | 157.57 | 6.81 | 14.51 | 104.20 | 34.34 | 7.97 | -4.20 | -118.74 | -227.03 | 6.11 | -19.29 | 0 |
| 21Q1 (9) | 10.61 | -19.74 | -25.86 | 6.62 | -26.93 | -29.2 | 8.55 | -10.66 | 13.85 | 7.06 | -10.29 | 23.86 | 2.68 | -37.09 | 50.56 | 1.14 | -38.38 | 35.71 | 0.16 | -30.43 | 14.29 | 9.27 | -8.4 | 8.29 | 147.52 | 8.02 | 17.24 | 77.57 | -18.0 | -37.8 | 22.43 | 314.53 | 190.78 | 7.57 | 22.49 | 0.8 |
| 20Q4 (8) | 13.22 | 110.17 | 20.62 | 9.06 | 178.77 | 29.06 | 9.57 | 109.87 | 35.36 | 7.87 | 122.32 | 60.94 | 4.26 | 187.84 | 107.8 | 1.85 | 184.62 | 115.12 | 0.23 | 27.78 | 27.78 | 10.12 | 96.5 | 36.2 | 136.57 | 0.11 | 3.23 | 94.59 | 32.6 | -4.52 | 5.41 | -81.12 | 476.35 | 6.18 | 9.77 | 6.92 |
| 20Q3 (7) | 6.29 | -52.42 | -46.69 | 3.25 | -70.29 | -61.4 | 4.56 | -59.72 | -37.45 | 3.54 | -65.76 | -37.79 | 1.48 | -78.49 | -36.21 | 0.65 | -78.26 | -33.67 | 0.18 | -37.93 | 12.5 | 5.15 | -55.83 | -36.5 | 136.42 | -0.86 | -3.86 | 71.33 | -26.09 | -38.3 | 28.67 | 766.04 | 283.65 | 5.63 | 0 | -5.85 |
| 20Q2 (6) | 13.22 | -7.62 | 21.96 | 10.94 | 17.01 | 66.51 | 11.32 | 50.73 | 54.43 | 10.34 | 81.4 | 71.48 | 6.88 | 286.52 | 195.28 | 2.99 | 255.95 | 211.46 | 0.29 | 107.14 | 93.33 | 11.66 | 36.21 | 43.07 | 137.60 | 9.35 | -12.26 | 96.52 | -22.61 | 7.61 | 3.31 | 113.39 | -67.89 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 14.31 | 30.57 | 22.1 | 9.35 | 33.19 | 39.97 | 7.51 | 6.22 | -15.71 | 5.70 | 16.56 | -17.15 | 1.78 | -13.17 | -23.61 | 0.84 | -2.33 | -11.58 | 0.14 | -22.22 | 7.69 | 8.56 | 15.21 | -14.66 | 125.83 | -4.89 | -18.31 | 124.71 | 25.89 | 66.28 | -24.71 | -2731.9 | -198.85 | 7.51 | 29.93 | -11.54 |
| 19Q4 (4) | 10.96 | -7.12 | 0.0 | 7.02 | -16.63 | 0.0 | 7.07 | -3.02 | 0.0 | 4.89 | -14.06 | 0.0 | 2.05 | -11.64 | 0.0 | 0.86 | -12.24 | 0.0 | 0.18 | 12.5 | 0.0 | 7.43 | -8.38 | 0.0 | 132.30 | -6.76 | 0.0 | 99.06 | -14.31 | 0.0 | 0.94 | 106.02 | 0.0 | 5.78 | -3.34 | 0.0 |
| 19Q3 (3) | 11.80 | 8.86 | 0.0 | 8.42 | 28.16 | 0.0 | 7.29 | -0.55 | 0.0 | 5.69 | -5.64 | 0.0 | 2.32 | -0.43 | 0.0 | 0.98 | 2.08 | 0.0 | 0.16 | 6.67 | 0.0 | 8.11 | -0.49 | 0.0 | 141.89 | -9.53 | 0.0 | 115.61 | 28.9 | 0.0 | -15.61 | -251.41 | 0.0 | 5.98 | -12.19 | 0.0 |
| 19Q2 (2) | 10.84 | -7.51 | 0.0 | 6.57 | -1.65 | 0.0 | 7.33 | -17.73 | 0.0 | 6.03 | -12.35 | 0.0 | 2.33 | 0.0 | 0.0 | 0.96 | 1.05 | 0.0 | 0.15 | 15.38 | 0.0 | 8.15 | -18.74 | 0.0 | 156.83 | 1.82 | 0.0 | 89.69 | 19.59 | 0.0 | 10.31 | -58.76 | 0.0 | 6.81 | -19.79 | 0.0 |
| 19Q1 (1) | 11.72 | 0.0 | 0.0 | 6.68 | 0.0 | 0.0 | 8.91 | 0.0 | 0.0 | 6.88 | 0.0 | 0.0 | 2.33 | 0.0 | 0.0 | 0.95 | 0.0 | 0.0 | 0.13 | 0.0 | 0.0 | 10.03 | 0.0 | 0.0 | 154.03 | 0.0 | 0.0 | 75.00 | 0.0 | 0.0 | 25.00 | 0.0 | 0.0 | 8.49 | 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) | 11.87 | -11.81 | 8.33 | -20.21 | 0.37 | 3.11 | 9.92 | 11.84 | 8.01 | 18.32 | 12.44 | -2.28 | 5.17 | -4.96 | 0.62 | -19.48 | 10.70 | 11.0 | 159.02 | 12.83 | 84.02 | -28.64 | 15.98 | 0 | 0.03 | -18.66 | 6.32 | 14.91 |
| 2022 (9) | 13.46 | -2.96 | 10.44 | 5.56 | 0.36 | -0.98 | 8.87 | -14.46 | 6.77 | -17.03 | 12.73 | -9.46 | 5.44 | -7.95 | 0.77 | 8.45 | 9.64 | -12.2 | 140.94 | -5.09 | 117.73 | 23.43 | -17.66 | 0 | 0.03 | 12.57 | 5.50 | -16.16 |
| 2021 (8) | 13.87 | 16.75 | 9.89 | 16.77 | 0.36 | 19.74 | 10.37 | 18.51 | 8.16 | 9.97 | 14.06 | -1.47 | 5.91 | -5.29 | 0.71 | -13.41 | 10.98 | 17.81 | 148.50 | 8.74 | 95.38 | -1.49 | 4.62 | 45.5 | 0.03 | -39.86 | 6.56 | 21.48 |
| 2020 (7) | 11.88 | 5.04 | 8.47 | 17.64 | 0.30 | -28.77 | 8.75 | 15.44 | 7.42 | 27.93 | 14.27 | 58.73 | 6.24 | 67.29 | 0.82 | 32.26 | 9.32 | 11.75 | 136.57 | 3.23 | 96.82 | 1.95 | 3.18 | -36.77 | 0.05 | -2.9 | 5.40 | -18.92 |
| 2019 (6) | 11.31 | 37.26 | 7.20 | 53.85 | 0.43 | 342.28 | 7.58 | 54.69 | 5.80 | 53.44 | 8.99 | -2.6 | 3.73 | 8.75 | 0.62 | -27.06 | 8.34 | 56.47 | 132.30 | -22.76 | 94.98 | -0.68 | 5.02 | 11.32 | 0.05 | 18.68 | 6.66 | 26.86 |
| 2018 (5) | 8.24 | -11.87 | 4.68 | -11.53 | 0.10 | -10.5 | 4.90 | -12.34 | 3.78 | -11.48 | 9.23 | 1.21 | 3.43 | -5.25 | 0.85 | 21.43 | 5.33 | -21.15 | 171.28 | -17.21 | 95.63 | 0.99 | 4.51 | -15.07 | 0.04 | 0 | 5.25 | -15.05 |
| 2017 (4) | 9.35 | 88.51 | 5.29 | 161.88 | 0.11 | 22.25 | 5.59 | -7.91 | 4.27 | -17.41 | 9.12 | -30.91 | 3.62 | -22.32 | 0.70 | -14.63 | 6.76 | -0.88 | 206.88 | 3.37 | 94.69 | 185.19 | 5.31 | -92.04 | 0.00 | 0 | 6.18 | -1.12 |
| 2016 (3) | 4.96 | -33.78 | 2.02 | -55.8 | 0.09 | 4.86 | 6.07 | 59.74 | 5.17 | 88.69 | 13.20 | 89.66 | 4.66 | 77.86 | 0.82 | 3.8 | 6.82 | 47.62 | 200.14 | -11.34 | 33.20 | -72.37 | 66.80 | 0 | 0.00 | 0 | 6.25 | -9.94 |
| 2015 (2) | 7.49 | -15.18 | 4.57 | -9.86 | 0.08 | 19.85 | 3.80 | -25.2 | 2.74 | -39.78 | 6.96 | -37.75 | 2.62 | -36.1 | 0.79 | -3.66 | 4.62 | -19.51 | 225.74 | 3.03 | 120.18 | 20.39 | -20.18 | 0 | 0.00 | 0 | 6.94 | -2.25 |
| 2014 (1) | 8.83 | 0 | 5.07 | 0 | 0.07 | 33.1 | 5.08 | 0 | 4.55 | 0 | 11.18 | 0 | 4.10 | 0 | 0.82 | -30.51 | 5.74 | -18.12 | 219.10 | 20.41 | 99.83 | 0.62 | 0.17 | -78.01 | 0.00 | 0 | 7.10 | 44.31 |
