- 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) | 18.38 | -3.01 | -6.37 | 6.35 | 169.07 | 46.31 | 8.00 | -53.08 | 80.59 | 4.31 | -71.25 | 34.27 | 1.93 | -70.03 | 34.97 | 1.14 | -67.05 | 32.56 | 0.24 | 9.09 | 0.0 | 10.67 | -46.27 | 55.31 | 84.37 | -8.43 | -13.35 | 79.44 | 476.38 | -18.82 | 20.56 | -76.11 | 861.21 | 11.17 | -12.46 | -16.58 |
| 23Q3 (19) | 18.95 | -4.1 | 8.47 | 2.36 | -70.54 | -68.74 | 17.05 | -9.31 | 72.75 | 14.99 | -4.83 | 92.18 | 6.44 | 4.04 | 39.7 | 3.46 | 6.79 | 31.06 | 0.22 | 10.0 | -33.33 | 19.86 | -9.07 | 72.25 | 92.14 | -2.72 | 22.27 | 13.78 | -67.59 | -81.97 | 86.06 | 49.74 | 265.14 | 12.76 | 63.59 | 68.34 |
| 23Q2 (18) | 19.76 | -14.72 | 7.33 | 8.01 | -5.54 | -7.83 | 18.80 | 74.88 | 11.97 | 15.75 | 100.89 | 13.97 | 6.19 | 106.33 | -40.42 | 3.24 | 100.0 | -47.91 | 0.20 | 5.26 | -55.56 | 21.84 | 58.84 | 23.11 | 94.72 | -7.28 | 13.52 | 42.52 | -45.99 | -17.77 | 57.48 | 173.77 | 19.03 | 7.80 | -41.75 | -4.76 |
| 23Q1 (17) | 23.17 | 18.03 | 3.35 | 8.48 | 95.39 | -29.33 | 10.75 | 142.66 | -16.21 | 7.84 | 144.24 | -15.79 | 3.00 | 109.79 | -65.52 | 1.62 | 88.37 | -70.71 | 0.19 | -20.83 | -67.8 | 13.75 | 100.15 | 1.25 | 102.16 | 4.92 | 88.0 | 78.73 | -19.55 | -15.91 | 20.99 | 881.49 | 225.16 | 13.39 | 0.0 | 42.75 |
| 22Q4 (16) | 19.63 | 12.36 | -11.34 | 4.34 | -42.52 | -65.06 | 4.43 | -55.12 | -65.34 | 3.21 | -58.85 | -67.9 | 1.43 | -68.98 | -87.68 | 0.86 | -67.42 | -87.75 | 0.24 | -27.27 | -65.71 | 6.87 | -40.42 | -49.15 | 97.37 | 29.21 | 55.59 | 97.86 | 28.04 | 0.7 | 2.14 | -90.92 | -24.06 | 13.39 | 76.65 | 50.79 |
| 22Q3 (15) | 17.47 | -5.11 | -31.97 | 7.55 | -13.12 | -47.79 | 9.87 | -41.22 | -7.84 | 7.80 | -43.56 | 7.73 | 4.61 | -55.63 | -52.13 | 2.64 | -57.56 | -53.68 | 0.33 | -26.67 | -57.69 | 11.53 | -35.01 | 1.32 | 75.36 | -9.68 | 6.43 | 76.43 | 47.8 | -43.36 | 23.57 | -51.19 | 167.44 | 7.58 | -7.45 | -30.2 |
| 22Q2 (14) | 18.41 | -17.89 | -16.39 | 8.69 | -27.58 | -22.41 | 16.79 | 30.87 | -29.66 | 13.82 | 48.44 | -35.96 | 10.39 | 19.43 | -63.68 | 6.22 | 12.48 | -60.1 | 0.45 | -23.73 | -37.5 | 17.74 | 30.63 | -28.5 | 83.44 | 53.55 | 20.28 | 51.71 | -44.76 | 10.22 | 48.29 | 647.9 | -9.04 | 8.19 | -12.69 | -11.36 |
| 22Q1 (13) | 22.42 | 1.26 | 24.0 | 12.00 | -3.38 | 57.27 | 12.83 | 0.39 | 50.76 | 9.31 | -6.9 | 37.72 | 8.70 | -25.06 | -19.82 | 5.53 | -21.23 | 9.94 | 0.59 | -15.71 | -18.06 | 13.58 | 0.52 | 37.73 | 54.34 | -13.17 | -51.64 | 93.62 | -3.67 | 4.46 | 6.46 | 129.21 | -37.79 | 9.38 | 5.63 | 7.08 |
| 21Q4 (12) | 22.14 | -13.79 | 47.31 | 12.42 | -14.11 | 178.48 | 12.78 | 19.33 | 156.63 | 10.00 | 38.12 | 138.66 | 11.61 | 20.56 | 71.24 | 7.02 | 23.16 | 137.97 | 0.70 | -10.26 | 4.48 | 13.51 | 18.72 | 107.53 | 62.58 | -11.62 | -53.14 | 97.18 | -27.99 | 8.38 | 2.82 | 108.06 | -72.73 | 8.88 | -18.23 | -19.13 |
| 21Q3 (11) | 25.68 | 16.62 | 46.32 | 14.46 | 29.11 | 156.38 | 10.71 | -55.13 | 102.08 | 7.24 | -66.45 | 63.43 | 9.63 | -66.34 | 44.81 | 5.70 | -63.44 | 105.78 | 0.78 | 8.33 | 30.0 | 11.38 | -54.13 | 60.51 | 70.81 | 2.08 | -52.14 | 134.95 | 187.65 | 26.94 | -34.95 | -165.84 | -453.82 | 10.86 | 17.53 | 23.13 |
| 21Q2 (10) | 22.02 | 21.79 | 34.19 | 11.20 | 46.79 | 98.23 | 23.87 | 180.49 | 323.98 | 21.58 | 219.23 | 382.77 | 28.61 | 163.69 | 312.84 | 15.59 | 209.94 | 426.69 | 0.72 | 0.0 | 14.29 | 24.81 | 151.62 | 216.45 | 69.37 | -38.26 | -54.39 | 46.91 | -47.65 | -53.09 | 53.09 | 411.45 | 0 | 9.24 | 5.48 | 0 |
| 21Q1 (9) | 18.08 | 20.29 | 9.38 | 7.63 | 71.08 | 370.99 | 8.51 | 70.88 | 521.17 | 6.76 | 61.34 | 695.29 | 10.85 | 60.03 | 1161.63 | 5.03 | 70.51 | 906.0 | 0.72 | 7.46 | 71.43 | 9.86 | 51.46 | 104.99 | 112.36 | -15.87 | -18.27 | 89.62 | -0.05 | -23.49 | 10.38 | 0.47 | 160.55 | 8.76 | -20.22 | -27.12 |
| 20Q4 (8) | 15.03 | -14.36 | -14.55 | 4.46 | -20.92 | 58.16 | 4.98 | -6.04 | 142.93 | 4.19 | -5.42 | 179.33 | 6.78 | 1.95 | 291.91 | 2.95 | 6.5 | 231.46 | 0.67 | 11.67 | 36.73 | 6.51 | -8.18 | 32.05 | 133.56 | -9.73 | -2.48 | 89.67 | -15.65 | -34.88 | 10.33 | 263.7 | 127.4 | 10.98 | 24.49 | 0 |
| 20Q3 (7) | 17.55 | 6.95 | -2.28 | 5.64 | -0.18 | 93.81 | 5.30 | -5.86 | 40.96 | 4.43 | -0.89 | 50.17 | 6.65 | -4.04 | 97.33 | 2.77 | -6.42 | 75.32 | 0.60 | -4.76 | 22.45 | 7.09 | -9.57 | 4.73 | 147.96 | -2.71 | 10.16 | 106.31 | 6.31 | 37.95 | -6.31 | 0 | -127.51 | 8.82 | 0 | -23.1 |
| 20Q2 (6) | 16.41 | -0.73 | -10.43 | 5.65 | 248.77 | 104.71 | 5.63 | 310.95 | 63.19 | 4.47 | 425.88 | 65.56 | 6.93 | 705.81 | 139.79 | 2.96 | 492.0 | 111.43 | 0.63 | 50.0 | 31.25 | 7.84 | 62.99 | 20.43 | 152.08 | 10.62 | 16.65 | 100.00 | -14.63 | 24.36 | -0.00 | 100.0 | -100.0 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 16.53 | -6.03 | -6.61 | 1.62 | -42.55 | -18.18 | 1.37 | -33.17 | -19.88 | 0.85 | -43.33 | -38.41 | 0.86 | -50.29 | -35.82 | 0.50 | -43.82 | -34.21 | 0.42 | -14.29 | -6.67 | 4.81 | -2.43 | -9.07 | 137.48 | 0.38 | 18.78 | 117.14 | -14.93 | 1.06 | -17.14 | 54.53 | -7.76 | 12.02 | 0 | -1.72 |
| 19Q4 (4) | 17.59 | -2.06 | 0.0 | 2.82 | -3.09 | 0.0 | 2.05 | -45.48 | 0.0 | 1.50 | -49.15 | 0.0 | 1.73 | -48.66 | 0.0 | 0.89 | -43.67 | 0.0 | 0.49 | 0.0 | 0.0 | 4.93 | -27.18 | 0.0 | 136.96 | 1.97 | 0.0 | 137.70 | 78.69 | 0.0 | -37.70 | -264.39 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 17.96 | -1.97 | 0.0 | 2.91 | 5.43 | 0.0 | 3.76 | 8.99 | 0.0 | 2.95 | 9.26 | 0.0 | 3.37 | 16.61 | 0.0 | 1.58 | 12.86 | 0.0 | 0.49 | 2.08 | 0.0 | 6.77 | 3.99 | 0.0 | 134.31 | 3.02 | 0.0 | 77.06 | -4.16 | 0.0 | 22.94 | 17.09 | 0.0 | 11.47 | -5.52 | 0.0 |
| 19Q2 (2) | 18.32 | 3.5 | 0.0 | 2.76 | 39.39 | 0.0 | 3.45 | 101.75 | 0.0 | 2.70 | 95.65 | 0.0 | 2.89 | 115.67 | 0.0 | 1.40 | 84.21 | 0.0 | 0.48 | 6.67 | 0.0 | 6.51 | 23.06 | 0.0 | 130.37 | 12.64 | 0.0 | 80.41 | -30.62 | 0.0 | 19.59 | 223.12 | 0.0 | 12.14 | -0.74 | 0.0 |
| 19Q1 (1) | 17.70 | 0.0 | 0.0 | 1.98 | 0.0 | 0.0 | 1.71 | 0.0 | 0.0 | 1.38 | 0.0 | 0.0 | 1.34 | 0.0 | 0.0 | 0.76 | 0.0 | 0.0 | 0.45 | 0.0 | 0.0 | 5.29 | 0.0 | 0.0 | 115.74 | 0.0 | 0.0 | 115.91 | 0.0 | 0.0 | -15.91 | 0.0 | 0.0 | 12.23 | 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) | 19.95 | 0.55 | 6.18 | -31.26 | 2.04 | 99.7 | 13.53 | 12.0 | 10.59 | 13.14 | 17.24 | -37.31 | 9.52 | -38.97 | 0.85 | -48.17 | 16.39 | 22.96 | 84.37 | -13.35 | 45.70 | -38.61 | 54.30 | 112.27 | 3.25 | 4.72 | 11.31 | 22.01 |
| 2022 (9) | 19.84 | -11.98 | 8.99 | -25.08 | 1.02 | 47.74 | 12.08 | -12.91 | 9.36 | -15.98 | 27.50 | -53.73 | 15.60 | -53.1 | 1.64 | -44.59 | 13.33 | -9.44 | 97.37 | 55.59 | 74.45 | -13.97 | 25.58 | 90.25 | 3.10 | -7.61 | 9.27 | -2.93 |
| 2021 (8) | 22.54 | 38.45 | 12.00 | 161.44 | 0.69 | -58.28 | 13.87 | 200.22 | 11.14 | 196.28 | 59.44 | 204.98 | 33.26 | 279.25 | 2.96 | 34.55 | 14.72 | 119.37 | 62.58 | -53.14 | 86.53 | -12.84 | 13.45 | 1785.04 | 3.35 | -57.72 | 9.55 | -4.88 |
| 2020 (7) | 16.28 | -9.0 | 4.59 | 73.86 | 1.66 | -35.73 | 4.62 | 67.39 | 3.76 | 75.7 | 19.49 | 110.02 | 8.77 | 87.39 | 2.20 | 13.99 | 6.71 | 14.12 | 133.56 | -2.48 | 99.29 | 3.97 | 0.71 | -84.16 | 7.93 | -24.9 | 10.04 | -14.55 |
| 2019 (6) | 17.89 | 5.11 | 2.64 | -19.02 | 2.58 | 661.95 | 2.76 | -21.81 | 2.14 | -32.7 | 9.28 | -36.18 | 4.68 | -34.45 | 1.93 | -9.81 | 5.88 | 39.34 | 136.96 | 23.42 | 95.50 | 3.37 | 4.50 | -40.9 | 10.56 | -10.02 | 11.75 | 9.0 |
| 2018 (5) | 17.02 | -6.79 | 3.26 | -13.3 | 0.34 | -13.12 | 3.53 | 5.06 | 3.18 | 32.5 | 14.54 | 37.43 | 7.14 | 29.35 | 2.14 | 1.42 | 4.22 | 1.2 | 110.97 | -4.66 | 92.38 | -17.41 | 7.62 | 0 | 11.74 | 0 | 10.78 | -15.85 |
| 2017 (4) | 18.26 | -0.81 | 3.76 | 89.9 | 0.39 | -13.83 | 3.36 | 44.21 | 2.40 | 93.55 | 10.58 | 119.05 | 5.52 | 85.23 | 2.11 | 3.43 | 4.17 | 28.31 | 116.40 | 14.36 | 111.86 | 31.57 | -11.86 | 0 | 0.00 | 0 | 12.81 | -13.56 |
| 2016 (3) | 18.41 | -4.51 | 1.98 | -38.32 | 0.45 | 18.83 | 2.33 | -42.89 | 1.24 | -60.26 | 4.83 | -62.93 | 2.98 | -58.44 | 2.04 | -8.93 | 3.25 | -30.7 | 101.78 | 26.4 | 85.02 | 8.19 | 14.54 | -32.1 | 0.00 | 0 | 14.82 | 29.66 |
| 2015 (2) | 19.28 | 13.08 | 3.21 | 38.96 | 0.38 | -0.07 | 4.08 | 44.68 | 3.12 | 47.17 | 13.03 | 8.58 | 7.17 | 19.1 | 2.24 | -17.34 | 4.69 | 35.94 | 80.52 | -14.48 | 78.59 | -4.3 | 21.41 | 19.72 | 0.00 | 0 | 11.43 | 4.29 |
| 2014 (1) | 17.05 | 0 | 2.31 | 0 | 0.38 | -12.07 | 2.82 | 0 | 2.12 | 0 | 12.00 | 0 | 6.02 | 0 | 2.71 | 0.74 | 3.45 | 26.84 | 94.15 | -26.58 | 82.12 | -19.36 | 17.88 | 0 | 0.00 | 0 | 10.96 | 2.33 |
