- 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) | 9.99 | -20.02 | -14.91 | 3.54 | -42.53 | 97.77 | 5.01 | 710.98 | -32.21 | 4.03 | 720.0 | -51.27 | 2.61 | 557.89 | -59.47 | 0.84 | 1300.0 | -63.95 | 0.18 | -18.18 | -28.0 | 6.56 | 741.03 | -29.0 | 251.95 | -11.82 | 3.54 | 70.69 | 109.67 | 196.35 | 29.31 | -96.47 | -61.51 | 4.95 | 60.19 | -38.51 |
| 23Q3 (19) | 12.49 | 10.04 | -25.92 | 6.16 | -28.29 | -49.63 | -0.82 | -139.81 | -112.85 | -0.65 | -156.03 | -121.38 | -0.57 | -149.57 | -120.0 | 0.06 | -93.02 | -94.96 | 0.22 | -4.35 | -33.33 | 0.78 | -86.27 | -89.63 | 285.73 | -9.49 | 55.31 | -730.77 | -274.22 | -479.3 | 830.77 | 360.07 | 1005.54 | 3.09 | 90.74 | -6.65 |
| 23Q2 (18) | 11.35 | 11.17 | -39.43 | 8.59 | 73.54 | -27.75 | 2.06 | -42.94 | -75.82 | 1.16 | -59.86 | -82.99 | 1.15 | -59.51 | -82.58 | 0.86 | -32.81 | -65.6 | 0.23 | -8.0 | -32.35 | 5.68 | -16.22 | -39.45 | 315.68 | -10.5 | 62.85 | 419.44 | 204.21 | 199.6 | -319.44 | -778.47 | -712.62 | 1.62 | -57.37 | -71.07 |
| 23Q1 (17) | 10.21 | -13.03 | -33.7 | 4.95 | 176.54 | -48.76 | 3.61 | -51.15 | -47.68 | 2.89 | -65.05 | -47.64 | 2.84 | -55.9 | -39.19 | 1.28 | -45.06 | -28.89 | 0.25 | 0.0 | -19.35 | 6.78 | -26.62 | -9.72 | 352.72 | 44.95 | 110.47 | 137.88 | 478.03 | -1.11 | -36.36 | -147.75 | 9.96 | 3.80 | -52.8 | -12.84 |
| 22Q4 (16) | 11.74 | -30.37 | -16.2 | 1.79 | -85.36 | -71.27 | 7.39 | 15.83 | 14.22 | 8.27 | 172.04 | 59.96 | 6.44 | 125.96 | 44.39 | 2.33 | 95.8 | 35.47 | 0.25 | -24.24 | -21.88 | 9.24 | 22.87 | 29.41 | 243.34 | 32.27 | 41.64 | 23.85 | -87.62 | -75.11 | 76.15 | 183.0 | 1727.52 | 8.05 | 143.2 | 35.07 |
| 22Q3 (15) | 16.86 | -10.03 | 38.77 | 12.23 | 2.86 | 120.76 | 6.38 | -25.12 | 6.87 | 3.04 | -55.43 | -36.4 | 2.85 | -56.82 | -40.75 | 1.19 | -52.4 | -35.68 | 0.33 | -2.94 | -10.81 | 7.52 | -19.83 | 14.11 | 183.97 | -5.1 | 7.09 | 192.66 | 37.61 | 105.95 | -91.74 | -133.38 | -1318.87 | 3.31 | -40.89 | -40.47 |
| 22Q2 (14) | 18.74 | 21.69 | 91.81 | 11.89 | 23.08 | 222.22 | 8.52 | 23.48 | 63.22 | 6.82 | 23.55 | 66.34 | 6.60 | 41.33 | 39.24 | 2.50 | 38.89 | 31.58 | 0.34 | 9.68 | -22.73 | 9.38 | 24.9 | 60.62 | 193.85 | 15.67 | 13.7 | 140.00 | 0.41 | 97.78 | -39.31 | 2.66 | -234.56 | 5.60 | 28.44 | 38.27 |
| 22Q1 (13) | 15.40 | 9.92 | 20.97 | 9.66 | 55.06 | 47.71 | 6.90 | 6.65 | 6.81 | 5.52 | 6.77 | 7.39 | 4.67 | 4.71 | -13.2 | 1.80 | 4.65 | -22.75 | 0.31 | -3.13 | -29.55 | 7.51 | 5.18 | 6.83 | 167.59 | -2.45 | 4.91 | 139.42 | 45.48 | 36.66 | -40.38 | -1069.23 | -3898.08 | 4.36 | -26.85 | -5.42 |
| 21Q4 (12) | 14.01 | 15.31 | 59.2 | 6.23 | 12.45 | 167.38 | 6.47 | 8.38 | 49.77 | 5.17 | 8.16 | 50.73 | 4.46 | -7.28 | 67.04 | 1.72 | -7.03 | 40.98 | 0.32 | -13.51 | -5.88 | 7.14 | 8.35 | 37.31 | 171.80 | 0.01 | 45.09 | 95.83 | 2.44 | 77.47 | 4.17 | -44.64 | -90.94 | 5.96 | 7.19 | 12.88 |
| 21Q3 (11) | 12.15 | 24.36 | -3.03 | 5.54 | 50.14 | 15.9 | 5.97 | 14.37 | 0.0 | 4.78 | 16.59 | 0.84 | 4.81 | 1.48 | 15.62 | 1.85 | -2.63 | 7.56 | 0.37 | -15.91 | 5.71 | 6.59 | 12.84 | -2.23 | 171.79 | 0.76 | 18.63 | 93.55 | 32.16 | 15.38 | 7.53 | -74.23 | -62.87 | 5.56 | 37.28 | 8.17 |
| 21Q2 (10) | 9.77 | -23.25 | -16.78 | 3.69 | -43.58 | -27.08 | 5.22 | -19.2 | -20.55 | 4.10 | -20.23 | -22.5 | 4.74 | -11.9 | -11.4 | 1.90 | -18.45 | -16.67 | 0.44 | 0.0 | 10.0 | 5.84 | -16.93 | -22.85 | 170.50 | 6.74 | 8.47 | 70.79 | -30.62 | -7.67 | 29.21 | 2992.13 | 25.2 | 4.05 | -12.15 | 0 |
| 21Q1 (9) | 12.73 | 44.66 | 18.97 | 6.54 | 180.69 | 47.3 | 6.46 | 49.54 | 64.8 | 5.14 | 49.85 | 64.74 | 5.38 | 101.5 | 100.0 | 2.33 | 90.98 | 75.19 | 0.44 | 29.41 | 18.92 | 7.03 | 35.19 | 35.98 | 159.74 | 34.9 | 9.19 | 102.02 | 88.93 | -9.53 | -1.01 | -102.2 | 92.09 | 4.61 | -12.69 | 0 |
| 20Q4 (8) | 8.80 | -29.77 | -25.17 | 2.33 | -51.26 | -20.75 | 4.32 | -27.64 | -25.26 | 3.43 | -27.64 | -24.12 | 2.67 | -35.82 | -22.16 | 1.22 | -29.07 | -27.38 | 0.34 | -2.86 | 6.25 | 5.20 | -22.85 | -27.48 | 118.41 | -18.23 | -3.65 | 54.00 | -33.4 | 6.31 | 46.00 | 126.93 | -6.52 | 5.28 | 2.72 | 0 |
| 20Q3 (7) | 12.53 | 6.73 | 2.29 | 4.78 | -5.53 | -12.93 | 5.97 | -9.13 | 26.48 | 4.74 | -10.4 | 26.74 | 4.16 | -22.24 | 44.95 | 1.72 | -24.56 | 26.47 | 0.35 | -12.5 | 20.69 | 6.74 | -10.96 | 4.17 | 144.81 | -7.88 | 0.11 | 81.08 | 5.76 | -31.29 | 20.27 | -13.13 | 226.69 | 5.14 | 0 | 10.06 |
| 20Q2 (6) | 11.74 | 9.72 | -15.96 | 5.06 | 13.96 | -21.91 | 6.57 | 67.6 | 11.17 | 5.29 | 69.55 | 12.08 | 5.35 | 98.88 | 55.52 | 2.28 | 71.43 | 43.4 | 0.40 | 8.11 | 37.93 | 7.57 | 46.42 | 0.0 | 157.19 | 7.45 | -13.13 | 76.67 | -32.01 | -30.1 | 23.33 | 282.78 | 341.11 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 10.70 | -9.01 | -26.81 | 4.44 | 51.02 | -35.09 | 3.92 | -32.18 | -34.34 | 3.12 | -30.97 | -34.04 | 2.69 | -21.57 | -9.12 | 1.33 | -20.83 | -13.64 | 0.37 | 15.62 | 32.14 | 5.17 | -27.89 | -33.12 | 146.29 | 19.04 | 13.11 | 112.77 | 122.01 | -1.55 | -12.77 | -125.94 | 12.23 | 0.00 | 0 | -100.0 |
| 19Q4 (4) | 11.76 | -4.0 | 0.0 | 2.94 | -46.45 | 0.0 | 5.78 | 22.46 | 0.0 | 4.52 | 20.86 | 0.0 | 3.43 | 19.51 | 0.0 | 1.68 | 23.53 | 0.0 | 0.32 | 10.34 | 0.0 | 7.17 | 10.82 | 0.0 | 122.89 | -15.04 | 0.0 | 50.79 | -56.95 | 0.0 | 49.21 | 407.54 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 12.25 | -12.31 | 0.0 | 5.49 | -15.28 | 0.0 | 4.72 | -20.14 | 0.0 | 3.74 | -20.76 | 0.0 | 2.87 | -16.57 | 0.0 | 1.36 | -14.47 | 0.0 | 0.29 | 0.0 | 0.0 | 6.47 | -14.53 | 0.0 | 144.65 | -20.06 | 0.0 | 118.00 | 7.59 | 0.0 | -16.00 | -65.33 | 0.0 | 4.67 | -10.36 | 0.0 |
| 19Q2 (2) | 13.97 | -4.45 | 0.0 | 6.48 | -5.26 | 0.0 | 5.91 | -1.01 | 0.0 | 4.72 | -0.21 | 0.0 | 3.44 | 16.22 | 0.0 | 1.59 | 3.25 | 0.0 | 0.29 | 3.57 | 0.0 | 7.57 | -2.07 | 0.0 | 180.95 | 39.91 | 0.0 | 109.68 | -4.25 | 0.0 | -9.68 | 33.47 | 0.0 | 5.21 | -7.3 | 0.0 |
| 19Q1 (1) | 14.62 | 0.0 | 0.0 | 6.84 | 0.0 | 0.0 | 5.97 | 0.0 | 0.0 | 4.73 | 0.0 | 0.0 | 2.96 | 0.0 | 0.0 | 1.54 | 0.0 | 0.0 | 0.28 | 0.0 | 0.0 | 7.73 | 0.0 | 0.0 | 129.33 | 0.0 | 0.0 | 114.55 | 0.0 | 0.0 | -14.55 | 0.0 | 0.0 | 5.62 | 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) | 11.05 | -30.2 | 6.00 | -34.21 | 0.32 | 19.72 | 2.35 | -67.85 | 1.74 | -70.21 | 5.82 | -70.37 | 3.36 | -52.14 | 0.96 | -11.93 | 4.94 | -41.19 | 251.95 | 3.54 | 255.41 | 104.67 | -155.41 | 0 | 0.08 | 5.84 | 3.23 | -38.59 |
| 2022 (9) | 15.83 | 30.93 | 9.12 | 67.34 | 0.27 | -1.98 | 7.31 | 21.63 | 5.84 | 22.18 | 19.64 | 9.97 | 7.02 | -6.9 | 1.09 | -27.81 | 8.40 | 26.89 | 243.34 | 41.64 | 124.79 | 37.56 | -24.79 | 0 | 0.07 | 272.31 | 5.26 | 4.78 |
| 2021 (8) | 12.09 | 9.81 | 5.45 | 29.45 | 0.27 | -41.47 | 6.01 | 14.26 | 4.78 | 13.81 | 17.86 | 27.3 | 7.54 | 10.07 | 1.51 | 0.0 | 6.62 | 6.26 | 171.80 | 45.09 | 90.72 | 13.29 | 9.28 | -53.4 | 0.02 | -67.04 | 5.02 | 3.29 |
| 2020 (7) | 11.01 | -15.89 | 4.21 | -21.6 | 0.46 | -13.41 | 5.26 | -5.73 | 4.20 | -4.76 | 14.03 | 12.24 | 6.85 | 2.85 | 1.51 | 17.97 | 6.23 | -13.59 | 118.41 | -3.65 | 80.08 | -16.66 | 19.92 | 409.15 | 0.06 | -50.71 | 4.86 | -4.52 |
| 2019 (6) | 13.09 | -6.1 | 5.37 | -14.35 | 0.53 | 144.68 | 5.58 | 3.33 | 4.41 | 2.56 | 12.50 | 0.73 | 6.66 | -2.63 | 1.28 | -7.91 | 7.21 | 10.92 | 122.89 | 2.43 | 96.09 | -17.27 | 3.91 | 0 | 0.12 | -2.42 | 5.09 | -4.32 |
| 2018 (5) | 13.94 | 16.46 | 6.27 | 27.7 | 0.22 | -7.32 | 5.40 | 3.85 | 4.30 | 0.0 | 12.41 | 4.9 | 6.84 | -3.66 | 1.39 | -9.74 | 6.50 | 9.98 | 119.98 | 26.2 | 116.14 | 22.94 | -16.14 | 0 | 0.13 | 0 | 5.32 | 4.93 |
| 2017 (4) | 11.97 | -12.82 | 4.91 | -14.16 | 0.24 | -26.98 | 5.20 | -20.12 | 4.30 | -19.48 | 11.83 | -8.22 | 7.10 | -8.51 | 1.54 | 10.0 | 5.91 | -17.11 | 95.07 | 56.88 | 94.47 | 7.82 | 5.53 | -55.34 | 0.00 | 0 | 5.07 | -10.9 |
| 2016 (3) | 13.73 | -10.32 | 5.72 | -22.18 | 0.32 | 110.0 | 6.51 | -9.71 | 5.34 | -10.1 | 12.89 | -21.31 | 7.76 | -12.12 | 1.40 | -1.41 | 7.13 | -8.24 | 60.60 | -28.5 | 87.62 | -13.84 | 12.38 | 0 | 0.00 | 0 | 5.69 | -1.9 |
| 2015 (2) | 15.31 | 6.17 | 7.35 | 10.36 | 0.15 | -29.98 | 7.21 | 8.58 | 5.94 | 8.39 | 16.38 | 3.34 | 8.83 | -2.0 | 1.42 | -9.55 | 7.77 | 7.77 | 84.75 | -18.88 | 101.70 | 1.7 | -1.70 | 0 | 0.00 | 0 | 5.80 | 2.65 |
| 2014 (1) | 14.42 | 0 | 6.66 | 0 | 0.22 | 11.66 | 6.64 | 0 | 5.48 | 0 | 15.85 | 0 | 9.01 | 0 | 1.57 | -3.09 | 7.21 | -2.44 | 104.47 | 72.88 | 100.00 | 11.95 | 0.00 | 0 | 0.00 | 0 | 5.65 | 0.36 |
