- 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) | 57.22 | 12.06 | 6.52 | -10.40 | -176.81 | -232.15 | -16.63 | -194.92 | -318.82 | -12.06 | -180.72 | -261.01 | -1.60 | -137.83 | -202.56 | -1.12 | -137.58 | -194.92 | 0.10 | -47.37 | -33.33 | -5.39 | -123.35 | -132.14 | 35.91 | -7.85 | 7.23 | 61.76 | -20.13 | -40.71 | 38.24 | 68.69 | 1017.65 | 50.96 | 109.11 | 72.92 |
| 23Q3 (19) | 51.06 | -6.82 | -0.35 | 13.54 | 27.74 | 10.71 | 17.52 | 7.95 | -24.29 | 14.94 | -5.68 | -24.7 | 4.23 | 7.09 | -36.96 | 2.98 | 5.67 | -33.63 | 0.19 | 5.56 | -17.39 | 23.08 | 2.35 | -15.92 | 38.97 | -27.21 | 0.15 | 77.33 | 18.97 | 47.06 | 22.67 | -35.24 | -51.31 | 24.37 | -23.63 | -8.14 |
| 23Q2 (18) | 54.80 | 10.2 | -4.6 | 10.60 | 124.59 | 3.52 | 16.23 | 135.87 | -33.7 | 15.84 | 141.36 | -19.76 | 3.95 | 199.75 | -19.72 | 2.82 | 194.63 | -10.19 | 0.18 | 125.0 | 12.5 | 22.55 | 172.25 | -28.62 | 53.54 | 73.32 | -12.22 | 65.00 | -32.13 | 56.35 | 35.00 | 728.33 | -40.1 | 31.91 | -50.66 | -18.76 |
| 23Q1 (17) | 49.73 | -7.43 | -3.19 | -43.10 | -647.65 | -244.8 | -45.25 | -695.39 | -1296.6 | -38.30 | -611.35 | -5816.42 | -3.96 | -353.85 | -3146.15 | -2.98 | -352.54 | -3411.11 | 0.08 | -46.67 | -38.46 | -31.21 | -286.11 | -490.12 | 30.89 | -7.76 | -41.46 | 95.77 | -8.06 | -74.11 | 4.23 | 201.41 | 101.51 | 64.67 | 119.44 | 50.01 |
| 22Q4 (16) | 53.72 | 4.84 | 18.85 | 7.87 | -35.65 | 155.52 | 7.60 | -67.16 | 156.76 | 7.49 | -62.25 | 292.15 | 1.56 | -76.75 | 262.79 | 1.18 | -73.72 | 353.85 | 0.15 | -34.78 | 7.14 | 16.77 | -38.91 | 19.87 | 33.49 | -13.93 | -39.19 | 104.17 | 98.09 | 4.17 | -4.17 | -108.95 | 0 | 29.47 | 11.08 | 17.79 |
| 22Q3 (15) | 51.24 | -10.79 | -8.48 | 12.23 | 19.43 | -60.96 | 23.14 | -5.47 | -26.61 | 19.84 | 0.51 | -28.09 | 6.71 | 36.38 | -68.81 | 4.49 | 42.99 | -55.76 | 0.23 | 43.75 | -37.84 | 27.45 | -13.11 | -21.79 | 38.91 | -36.2 | -52.1 | 52.59 | 26.49 | -47.09 | 46.55 | -20.32 | 7511.21 | 26.53 | -32.46 | 38.9 |
| 22Q2 (14) | 57.44 | 11.82 | -5.57 | 10.24 | 181.92 | -33.94 | 24.48 | 855.56 | 29.59 | 19.74 | 2846.27 | 7.87 | 4.92 | 3684.62 | -58.59 | 3.14 | 3388.89 | -50.55 | 0.16 | 23.08 | -54.29 | 31.59 | 294.88 | 28.1 | 60.99 | 15.58 | -59.35 | 41.57 | -88.76 | -49.14 | 58.43 | 120.87 | 220.08 | 39.28 | -8.88 | 37.82 |
| 22Q1 (13) | 51.37 | 13.65 | -1.33 | -12.50 | -505.84 | -334.52 | -3.24 | -209.46 | -157.65 | 0.67 | -64.92 | -88.08 | 0.13 | -69.77 | 44.44 | 0.09 | -65.38 | 0.0 | 0.13 | -7.14 | 550.0 | 8.00 | -42.82 | -44.02 | 52.77 | -4.18 | 6496.25 | 370.00 | 270.0 | 270.0 | -280.00 | 0 | 0 | 43.11 | 72.3 | -32.11 |
| 21Q4 (12) | 45.20 | -19.27 | -9.38 | 3.08 | -90.17 | 173.68 | 2.96 | -90.61 | 120.34 | 1.91 | -93.08 | 113.13 | 0.43 | -98.0 | 193.48 | 0.26 | -97.44 | 157.78 | 0.14 | -62.16 | 366.67 | 13.99 | -60.14 | 239.9 | 55.07 | -32.21 | 4305.6 | 100.00 | 0.62 | 200.0 | 0.00 | -100.0 | -100.0 | 25.02 | 30.99 | -64.61 |
| 21Q3 (11) | 55.99 | -7.96 | -34.59 | 31.33 | 102.13 | -53.59 | 31.53 | 66.91 | -49.41 | 27.59 | 50.77 | -55.73 | 21.51 | 81.06 | 393.35 | 10.15 | 59.84 | 134.41 | 0.37 | 5.71 | 428.57 | 35.10 | 42.34 | -44.25 | 81.24 | -45.86 | 8827.47 | 99.39 | 21.58 | -6.13 | 0.61 | -96.65 | 110.4 | 19.10 | -32.98 | -22.86 |
| 21Q2 (10) | 60.83 | 16.85 | -36.24 | 15.50 | 190.81 | -81.18 | 18.89 | 236.12 | -78.56 | 18.30 | 225.62 | -79.23 | 11.88 | 13100.0 | 44.7 | 6.35 | 6955.56 | -20.33 | 0.35 | 1650.0 | 288.89 | 24.66 | 72.57 | -72.05 | 150.05 | 18656.25 | 15862.77 | 81.75 | -18.25 | -12.41 | 18.25 | 0 | 173.81 | 28.50 | -55.12 | 0 |
| 21Q1 (9) | 52.06 | 4.37 | -44.82 | 5.33 | 227.51 | -85.79 | 5.62 | 138.63 | -84.45 | 5.62 | 138.63 | 102.62 | 0.09 | 119.57 | -94.38 | 0.09 | 120.0 | -93.08 | 0.02 | -33.33 | -50.0 | 14.29 | 242.9 | -83.92 | 0.80 | -36.0 | -85.43 | 100.00 | 200.0 | 0.0 | 0.00 | -100.0 | 0 | 63.50 | -10.17 | 0 |
| 20Q4 (8) | 49.88 | -41.73 | 220.57 | -4.18 | -106.19 | 96.06 | -14.55 | -123.35 | 88.45 | -14.55 | -123.35 | 88.46 | -0.46 | -110.55 | 98.72 | -0.45 | -110.39 | 97.51 | 0.03 | -57.14 | -80.0 | -10.00 | -115.88 | 90.83 | 1.25 | 37.36 | -98.95 | 33.33 | -68.52 | -61.11 | 66.67 | 1233.33 | 366.67 | 70.69 | 185.5 | 12.78 |
| 20Q3 (7) | 85.60 | -10.27 | 95.12 | 67.51 | -18.02 | 140.18 | 62.32 | -29.27 | 138.86 | 62.32 | -29.27 | 138.97 | 4.36 | -46.89 | 113.01 | 4.33 | -45.67 | 123.19 | 0.07 | -22.22 | -41.67 | 62.96 | -28.65 | 145.25 | 0.91 | -3.19 | -98.86 | 105.88 | 13.45 | 0.45 | -5.88 | -188.24 | -8.82 | 24.76 | 0 | -51.52 |
| 20Q2 (6) | 95.40 | 1.11 | 37.84 | 82.35 | 119.54 | 3766.2 | 88.11 | 143.8 | 2798.36 | 88.11 | 141.15 | 1251.38 | 8.21 | 413.13 | 377.33 | 7.97 | 513.08 | 517.83 | 0.09 | 125.0 | -40.0 | 88.24 | -0.73 | 328.56 | 0.94 | -82.88 | -98.69 | 93.33 | -6.67 | -6.67 | 6.67 | 0 | 0 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 94.35 | 506.36 | 23.32 | 37.51 | 135.33 | 420.25 | 36.14 | 128.68 | 356.89 | -214.14 | -69.86 | -2910.24 | 1.60 | 104.46 | 4.58 | 1.30 | 107.19 | -1.52 | 0.04 | -73.33 | -66.67 | 88.89 | 181.48 | 270.38 | 5.49 | -95.39 | -93.39 | 100.00 | 16.67 | 0.0 | -0.00 | -100.0 | 0 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 15.56 | -64.53 | 0.0 | -106.16 | 36.82 | 0.0 | -126.01 | 21.42 | 0.0 | -126.07 | 21.17 | 0.0 | -35.85 | -6.95 | 0.0 | -18.08 | 3.16 | 0.0 | 0.15 | 25.0 | 0.0 | -109.09 | 21.59 | 0.0 | 119.20 | 48.7 | 0.0 | 85.71 | -18.68 | 0.0 | 14.29 | 364.29 | 0.0 | 62.68 | 22.73 | 0.0 |
| 19Q3 (3) | 43.87 | -36.61 | 0.0 | -168.03 | -7988.73 | 0.0 | -160.36 | -5375.0 | 0.0 | -159.92 | -2552.76 | 0.0 | -33.52 | -2048.84 | 0.0 | -18.67 | -1547.29 | 0.0 | 0.12 | -20.0 | 0.0 | -139.13 | -775.72 | 0.0 | 80.16 | 11.44 | 0.0 | 105.41 | 5.41 | 0.0 | -5.41 | 0 | 0.0 | 51.07 | 32.55 | 0.0 |
| 19Q2 (2) | 69.21 | -9.54 | 0.0 | 2.13 | -70.46 | 0.0 | 3.04 | -61.57 | 0.0 | 6.52 | -14.44 | 0.0 | 1.72 | 12.42 | 0.0 | 1.29 | -2.27 | 0.0 | 0.15 | 25.0 | 0.0 | 20.59 | -14.21 | 0.0 | 71.93 | -13.42 | 0.0 | 100.00 | 0.0 | 0.0 | 0.00 | 0 | 0.0 | 38.53 | -22.94 | 0.0 |
| 19Q1 (1) | 76.51 | 0.0 | 0.0 | 7.21 | 0.0 | 0.0 | 7.91 | 0.0 | 0.0 | 7.62 | 0.0 | 0.0 | 1.53 | 0.0 | 0.0 | 1.32 | 0.0 | 0.0 | 0.12 | 0.0 | 0.0 | 24.00 | 0.0 | 0.0 | 83.08 | 0.0 | 0.0 | 100.00 | 0.0 | 0.0 | 0.00 | 0.0 | 0.0 | 50.00 | 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) | 53.15 | -0.32 | 0.72 | -87.59 | 4.93 | -7.46 | 2.59 | -82.46 | 3.26 | -75.43 | 2.47 | -81.01 | 2.03 | -77.62 | 0.56 | -17.65 | 10.63 | -52.2 | 35.91 | 7.23 | 26.67 | -32.09 | 73.33 | 20.75 | 14.35 | -7.5 | 36.91 | 9.72 |
| 2022 (9) | 53.32 | -4.38 | 5.80 | -72.9 | 5.32 | 36.55 | 14.77 | -34.59 | 13.27 | -34.37 | 13.01 | -63.27 | 9.07 | -65.38 | 0.68 | -47.29 | 22.24 | -20.91 | 33.49 | -39.19 | 39.27 | -58.58 | 60.73 | 1071.59 | 15.51 | 11.09 | 33.64 | 43.7 |
| 2021 (8) | 55.76 | -32.26 | 21.40 | -60.57 | 3.90 | -12.28 | 22.58 | -56.96 | 20.22 | -25.22 | 35.42 | 246.91 | 26.20 | 180.51 | 1.29 | 616.67 | 28.12 | -52.25 | 55.07 | 4305.6 | 94.82 | -9.05 | 5.18 | 0 | 13.96 | 2940.35 | 23.41 | -49.98 |
| 2020 (7) | 82.32 | 52.73 | 54.28 | 0 | 4.44 | -66.67 | 52.46 | 0 | 27.04 | 0 | 10.21 | 0 | 9.34 | 0 | 0.18 | -73.53 | 58.89 | 0 | 1.25 | -98.95 | 104.26 | 7.73 | -4.26 | 0 | 0.46 | -84.04 | 46.80 | -4.84 |
| 2019 (6) | 53.90 | 2073.39 | -57.67 | 0 | 13.33 | 1891.11 | -59.70 | 0 | -58.55 | 0 | -67.42 | 0 | -38.01 | 0 | 0.68 | -72.47 | -40.00 | 0 | 119.20 | 178.24 | 96.77 | -43.35 | 3.23 | 0 | 2.88 | -2.73 | 49.18 | 571.86 |
| 2018 (5) | 2.48 | -69.5 | -9.09 | 0 | 0.67 | 185.27 | -5.47 | 0 | -5.83 | 0 | -18.45 | 0 | -13.70 | 0 | 2.47 | -51.66 | -3.57 | 0 | 42.84 | 143.13 | 170.83 | 52.85 | -66.67 | 0 | 2.96 | 0 | 7.32 | 96.25 |
| 2017 (4) | 8.13 | -47.31 | 2.19 | 0 | 0.23 | 0 | 1.94 | 0 | 1.30 | 0 | 7.32 | 0 | 6.63 | 0 | 5.11 | 546.84 | 2.23 | 0 | 17.62 | 889.89 | 111.76 | 7.63 | -11.76 | 0 | 0.00 | 0 | 3.73 | -86.04 |
| 2016 (3) | 15.43 | -53.3 | -21.65 | 0 | 0.00 | 0 | -20.37 | 0 | -20.37 | 0 | -17.11 | 0 | -16.17 | 0 | 0.79 | -7.06 | -19.69 | 0 | 1.78 | -80.78 | 103.85 | -16.92 | -7.69 | 0 | 0.00 | 0 | 26.71 | 2.45 |
| 2015 (2) | 33.04 | -4.29 | -2.64 | 0 | 0.58 | -24.85 | -2.29 | 0 | -2.29 | 0 | -2.44 | 0 | -1.88 | 0 | 0.85 | -29.75 | -1.17 | 0 | 9.26 | -77.67 | 125.00 | -25.0 | -25.00 | 0 | 0.00 | 0 | 26.07 | 10.89 |
| 2014 (1) | 34.52 | 0 | 1.87 | 0 | 0.78 | -41.89 | 1.23 | 0 | 1.23 | 0 | 2.07 | 0 | 1.65 | 0 | 1.21 | 10.0 | 3.50 | -12.94 | 41.46 | 17.02 | 166.67 | 0 | -66.67 | 0 | 0.00 | 0 | 23.51 | -12.5 |
