- 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) | 6.66 | -13.73 | 0.3 | -0.88 | -425.93 | -540.0 | -0.03 | -105.45 | -101.5 | 0.02 | -95.45 | -98.78 | 0.02 | -94.44 | -98.63 | 0.12 | -57.14 | -85.54 | 0.40 | 0.0 | -11.11 | 3.08 | -16.3 | -38.15 | 115.43 | 8.59 | 21.15 | 3700.00 | 7636.36 | 36077.78 | -3600.00 | -7000.0 | -4110.13 | 6.35 | -6.89 | 14.21 |
| 23Q3 (19) | 7.72 | 9.5 | 8.43 | 0.27 | 128.42 | 0 | 0.55 | -22.54 | -16.67 | 0.44 | -38.89 | -8.33 | 0.36 | -36.84 | -20.0 | 0.28 | -28.21 | -6.67 | 0.40 | 0.0 | -14.89 | 3.68 | -7.07 | 5.14 | 106.30 | 6.59 | 10.45 | 47.83 | 135.56 | 0 | 52.17 | -77.42 | -47.83 | 6.82 | -4.21 | -7.84 |
| 23Q2 (18) | 7.05 | -15.16 | -15.06 | -0.95 | -228.38 | -200.0 | 0.71 | -25.26 | -79.77 | 0.72 | -16.28 | -78.05 | 0.57 | -14.93 | -81.25 | 0.39 | -11.36 | -75.93 | 0.40 | 0.0 | -14.89 | 3.96 | -4.58 | -36.74 | 99.73 | 5.31 | -4.82 | -134.48 | -276.22 | -591.15 | 231.03 | 875.48 | 218.15 | 7.12 | -6.68 | 0.99 |
| 23Q1 (17) | 8.31 | 25.15 | -2.12 | 0.74 | 270.0 | -35.65 | 0.95 | -52.5 | -24.0 | 0.86 | -47.56 | -10.42 | 0.67 | -54.11 | -19.28 | 0.44 | -46.99 | -15.38 | 0.40 | -11.11 | -13.04 | 4.15 | -16.67 | 4.01 | 94.70 | -0.61 | 8.84 | 76.32 | 646.2 | -16.75 | 23.68 | -73.62 | 184.21 | 7.63 | 37.23 | 2.97 |
| 22Q4 (16) | 6.64 | -6.74 | -19.9 | 0.20 | 0 | -85.07 | 2.00 | 203.03 | 44.93 | 1.64 | 241.67 | 33.33 | 1.46 | 224.44 | 26.96 | 0.83 | 176.67 | 23.88 | 0.45 | -4.26 | -10.0 | 4.98 | 42.29 | 28.68 | 95.28 | -1.0 | 6.19 | 10.23 | 0 | -89.47 | 89.77 | -10.23 | 3042.05 | 5.56 | -24.86 | -19.88 |
| 22Q3 (15) | 7.12 | -14.22 | -27.2 | 0.00 | -100.0 | -100.0 | 0.66 | -81.2 | -86.64 | 0.48 | -85.37 | -88.65 | 0.45 | -85.2 | -86.96 | 0.30 | -81.48 | -84.77 | 0.47 | 0.0 | 4.44 | 3.50 | -44.09 | -54.37 | 96.24 | -8.15 | 12.51 | 0.00 | -100.0 | -100.0 | 100.00 | 37.7 | 101.71 | 7.40 | 4.96 | 0.0 |
| 22Q2 (14) | 8.30 | -2.24 | -9.29 | 0.95 | -17.39 | -48.09 | 3.51 | 180.8 | 73.76 | 3.28 | 241.67 | 115.79 | 3.04 | 266.27 | 153.33 | 1.62 | 211.54 | 125.0 | 0.47 | 2.17 | 9.3 | 6.26 | 56.89 | 27.76 | 104.78 | 20.42 | 37.54 | 27.38 | -70.13 | -69.69 | 72.62 | 771.43 | 650.4 | 7.05 | -4.86 | -9.85 |
| 22Q1 (13) | 8.49 | 2.41 | -22.47 | 1.15 | -14.18 | -52.08 | 1.25 | -9.42 | -52.65 | 0.96 | -21.95 | -53.62 | 0.83 | -27.83 | -50.6 | 0.52 | -22.39 | -45.26 | 0.46 | -8.0 | 6.98 | 3.99 | 3.1 | -30.12 | 87.01 | -3.03 | 0.08 | 91.67 | -5.64 | 1.36 | 8.33 | 191.67 | -12.88 | 7.41 | 6.77 | -17.21 |
| 21Q4 (12) | 8.29 | -15.24 | -24.64 | 1.34 | -46.18 | -40.71 | 1.38 | -72.06 | -31.0 | 1.23 | -70.92 | -21.15 | 1.15 | -66.67 | -8.0 | 0.67 | -65.99 | -5.63 | 0.50 | 11.11 | 19.05 | 3.87 | -49.54 | -26.84 | 89.73 | 4.9 | -0.7 | 97.14 | 92.65 | -13.42 | 2.86 | -94.24 | 121.3 | 6.94 | -6.22 | -21.76 |
| 21Q3 (11) | 9.78 | 6.89 | -13.91 | 2.49 | 36.07 | -19.16 | 4.94 | 144.55 | 3.13 | 4.23 | 178.29 | 1.93 | 3.45 | 187.5 | -8.49 | 1.97 | 173.61 | 0.0 | 0.45 | 4.65 | -2.17 | 7.67 | 56.53 | -3.03 | 85.54 | 12.29 | -7.29 | 50.42 | -44.17 | -21.43 | 49.58 | 412.29 | 38.4 | 7.40 | -5.37 | -15.04 |
| 21Q2 (10) | 9.15 | -16.44 | -23.11 | 1.83 | -23.75 | -30.42 | 2.02 | -23.48 | -27.86 | 1.52 | -26.57 | -30.91 | 1.20 | -28.57 | -32.2 | 0.72 | -24.21 | -22.58 | 0.43 | 0.0 | 7.5 | 4.90 | -14.19 | -24.5 | 76.18 | -12.38 | -27.76 | 90.32 | -0.12 | -4.77 | 9.68 | 1.17 | 56.45 | 7.82 | -12.63 | 0 |
| 21Q1 (9) | 10.95 | -0.45 | 13.94 | 2.40 | 6.19 | 35.59 | 2.64 | 32.0 | 33.33 | 2.07 | 32.69 | 32.69 | 1.68 | 34.4 | 9.8 | 0.95 | 33.8 | 15.85 | 0.43 | 2.38 | -10.42 | 5.71 | 7.94 | 12.4 | 86.94 | -3.78 | -12.61 | 90.43 | -19.4 | 1.43 | 9.57 | 171.3 | -11.79 | 8.95 | 0.9 | 8.22 |
| 20Q4 (8) | 11.00 | -3.17 | 29.72 | 2.26 | -26.62 | 47.71 | 2.00 | -58.25 | 31.58 | 1.56 | -62.41 | 35.65 | 1.25 | -66.84 | -1.57 | 0.71 | -63.96 | 22.41 | 0.42 | -8.7 | -17.65 | 5.29 | -33.12 | 31.27 | 90.36 | -2.07 | -19.84 | 112.20 | 74.82 | 12.2 | -13.41 | -137.45 | -839.02 | 8.87 | 1.84 | 25.11 |
| 20Q3 (7) | 11.36 | -4.54 | 54.77 | 3.08 | 17.11 | 631.03 | 4.79 | 71.07 | -4.77 | 4.15 | 88.64 | 8.64 | 3.77 | 112.99 | -11.08 | 1.97 | 111.83 | -1.99 | 0.46 | 15.0 | -9.8 | 7.91 | 21.88 | 1.93 | 92.27 | -12.51 | -23.48 | 64.18 | -32.33 | 641.96 | 35.82 | 479.1 | -67.97 | 8.71 | 0 | 1.4 |
| 20Q2 (6) | 11.90 | 23.83 | 44.42 | 2.63 | 48.59 | 61.35 | 2.80 | 41.41 | 47.37 | 2.20 | 41.03 | 50.68 | 1.77 | 15.69 | 8.59 | 0.93 | 13.41 | 10.71 | 0.40 | -16.67 | -24.53 | 6.49 | 27.76 | 42.95 | 105.46 | 6.01 | -10.65 | 94.85 | 6.38 | 9.82 | 6.19 | -42.96 | -54.64 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 9.61 | 13.33 | 8.59 | 1.77 | 15.69 | 39.37 | 1.98 | 30.26 | 21.47 | 1.56 | 35.65 | 22.83 | 1.53 | 20.47 | 18.6 | 0.82 | 41.38 | 10.81 | 0.48 | -5.88 | -9.43 | 5.08 | 26.05 | 12.89 | 99.48 | -11.75 | -5.46 | 89.16 | -10.84 | 13.92 | 10.84 | 859.04 | -50.12 | 8.27 | 16.64 | 4.68 |
| 19Q4 (4) | 8.48 | 15.53 | 0.0 | 1.53 | 363.79 | 0.0 | 1.52 | -69.78 | 0.0 | 1.15 | -69.9 | 0.0 | 1.27 | -70.05 | 0.0 | 0.58 | -71.14 | 0.0 | 0.51 | 0.0 | 0.0 | 4.03 | -48.07 | 0.0 | 112.73 | -6.52 | 0.0 | 100.00 | 944.44 | 0.0 | -1.43 | -101.28 | 0.0 | 7.09 | -17.46 | 0.0 |
| 19Q3 (3) | 7.34 | -10.92 | 0.0 | -0.58 | -135.58 | 0.0 | 5.03 | 164.74 | 0.0 | 3.82 | 161.64 | 0.0 | 4.24 | 160.12 | 0.0 | 2.01 | 139.29 | 0.0 | 0.51 | -3.77 | 0.0 | 7.76 | 70.93 | 0.0 | 120.59 | 2.17 | 0.0 | -11.84 | -113.71 | 0.0 | 111.84 | 720.18 | 0.0 | 8.59 | 20.31 | 0.0 |
| 19Q2 (2) | 8.24 | -6.89 | 0.0 | 1.63 | 28.35 | 0.0 | 1.90 | 16.56 | 0.0 | 1.46 | 14.96 | 0.0 | 1.63 | 26.36 | 0.0 | 0.84 | 13.51 | 0.0 | 0.53 | 0.0 | 0.0 | 4.54 | 0.89 | 0.0 | 118.03 | 12.17 | 0.0 | 86.36 | 10.35 | 0.0 | 13.64 | -37.27 | 0.0 | 7.14 | -9.62 | 0.0 |
| 19Q1 (1) | 8.85 | 0.0 | 0.0 | 1.27 | 0.0 | 0.0 | 1.63 | 0.0 | 0.0 | 1.27 | 0.0 | 0.0 | 1.29 | 0.0 | 0.0 | 0.74 | 0.0 | 0.0 | 0.53 | 0.0 | 0.0 | 4.50 | 0.0 | 0.0 | 105.22 | 0.0 | 0.0 | 78.26 | 0.0 | 0.0 | 21.74 | 0.0 | 0.0 | 7.90 | 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) | 7.42 | -3.13 | -0.22 | 0 | 2.79 | 6.26 | 0.54 | -71.12 | 0.50 | -68.75 | 1.64 | -71.08 | 1.20 | -62.96 | 1.58 | -14.13 | 3.70 | -21.11 | 115.43 | 21.15 | -40.91 | 0 | 140.91 | 106.59 | 1.48 | 0 | 6.97 | 1.46 |
| 2022 (9) | 7.66 | -19.28 | 0.59 | -70.5 | 2.62 | 0.55 | 1.87 | -31.5 | 1.60 | -29.2 | 5.67 | -28.32 | 3.24 | -26.53 | 1.84 | 0.0 | 4.69 | -14.88 | 95.28 | 6.19 | 31.50 | -56.93 | 68.21 | 154.05 | 0.00 | 0 | 6.87 | -11.13 |
| 2021 (8) | 9.49 | -13.17 | 2.00 | -17.7 | 2.61 | -15.53 | 2.73 | -5.86 | 2.26 | -5.04 | 7.91 | -1.37 | 4.41 | 3.04 | 1.84 | 9.52 | 5.51 | -11.13 | 89.73 | -0.7 | 73.15 | -12.48 | 26.85 | 63.56 | 0.00 | 0 | 7.73 | -12.75 |
| 2020 (7) | 10.93 | 32.97 | 2.43 | 153.13 | 3.09 | 20.47 | 2.90 | 14.62 | 2.38 | 23.32 | 8.02 | -4.52 | 4.28 | -6.14 | 1.68 | -23.64 | 6.20 | 17.65 | 90.36 | -19.84 | 83.59 | 118.57 | 16.41 | -73.52 | 0.00 | 0 | 8.86 | 15.36 |
| 2019 (6) | 8.22 | 6.75 | 0.96 | -15.79 | 2.56 | 112.05 | 2.53 | 53.33 | 1.93 | 55.65 | 8.40 | 46.6 | 4.56 | 35.31 | 2.20 | -15.38 | 5.27 | 79.86 | 112.73 | 37.39 | 38.24 | -44.41 | 61.98 | 100.63 | 0.00 | 0 | 7.68 | 13.11 |
| 2018 (5) | 7.70 | -11.9 | 1.14 | -34.48 | 1.21 | -4.64 | 1.65 | -56.35 | 1.24 | -61.73 | 5.73 | -60.83 | 3.37 | -59.0 | 2.60 | 4.84 | 2.93 | -43.0 | 82.05 | 12.95 | 68.79 | 49.43 | 30.89 | -42.76 | 0.00 | 0 | 6.79 | -6.34 |
| 2017 (4) | 8.74 | -8.0 | 1.74 | -27.2 | 1.27 | -5.11 | 3.78 | 33.1 | 3.24 | 38.46 | 14.63 | 26.01 | 8.22 | 31.94 | 2.48 | -3.13 | 5.14 | 19.81 | 72.64 | -22.19 | 46.03 | -45.33 | 53.97 | 241.53 | 0.00 | 0 | 7.25 | -2.82 |
| 2016 (3) | 9.50 | 20.71 | 2.39 | 64.83 | 1.34 | 13.12 | 2.84 | 64.16 | 2.34 | 65.96 | 11.61 | 52.56 | 6.23 | 51.95 | 2.56 | -6.23 | 4.29 | 41.58 | 93.36 | -1.26 | 84.20 | 0.74 | 15.80 | -3.79 | 0.00 | 0 | 7.46 | 9.87 |
| 2015 (2) | 7.87 | 31.39 | 1.45 | 28.32 | 1.18 | 45.31 | 1.73 | 15.33 | 1.41 | 20.51 | 7.61 | -6.05 | 4.10 | -3.07 | 2.73 | -22.22 | 3.03 | 28.39 | 94.55 | -7.5 | 83.58 | 11.31 | 16.42 | -34.09 | 0.00 | 0 | 6.79 | 38.57 |
| 2014 (1) | 5.99 | 0 | 1.13 | 0 | 0.81 | 7.43 | 1.50 | 0 | 1.17 | 0 | 8.10 | 0 | 4.23 | 0 | 3.51 | -4.36 | 2.36 | -3.28 | 102.22 | 9.7 | 75.08 | -3.59 | 24.92 | 12.64 | 0.00 | 0 | 4.90 | 6.29 |
