- 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) | 19.75 | -1.74 | -15.85 | -13.97 | -222.63 | -417.5 | -9.38 | -166.48 | -520.63 | -9.45 | -155.41 | -556.52 | -3.53 | -124.84 | -406.96 | -1.36 | -216.28 | -274.36 | 0.18 | -10.0 | -35.71 | 2.31 | -56.42 | -73.75 | 113.47 | 1.54 | 16.57 | 150.00 | 7.14 | -25.0 | -50.00 | -150.0 | 50.0 | 30.71 | 112.53 | 129.52 |
| 23Q3 (19) | 20.10 | 20.43 | -16.94 | -4.33 | 74.2 | -315.42 | -3.52 | 81.82 | -145.54 | -3.70 | 81.29 | -147.99 | -1.57 | 69.4 | -148.61 | -0.43 | 80.09 | -122.28 | 0.20 | 66.67 | -13.04 | 5.30 | 269.87 | -61.71 | 111.75 | -3.14 | 11.73 | 140.00 | 57.5 | 460.0 | -20.00 | -280.0 | -126.67 | 14.45 | -63.13 | -17.29 |
| 23Q2 (18) | 16.69 | -18.27 | -31.54 | -16.78 | -199.11 | -3007.41 | -19.36 | -337.02 | -791.43 | -19.78 | -306.16 | -863.71 | -5.13 | -230.97 | -682.95 | -2.16 | -350.0 | -408.57 | 0.12 | -25.0 | -40.0 | -3.12 | -138.38 | -130.47 | 115.37 | 6.36 | 66.36 | 88.89 | -36.51 | 455.56 | 11.11 | 155.56 | -88.89 | 39.19 | 79.36 | 57.01 |
| 23Q1 (17) | 20.42 | -13.0 | -23.03 | -5.61 | -227.5 | -185.52 | -4.43 | -298.65 | -162.84 | -4.87 | -335.27 | -170.17 | -1.55 | -234.78 | -144.54 | -0.48 | -161.54 | -121.52 | 0.16 | -42.86 | -46.67 | 8.13 | -7.61 | -29.55 | 108.47 | 11.43 | 48.02 | 140.00 | -30.0 | 51.67 | -20.00 | 80.0 | -360.0 | 21.85 | 63.3 | 37.85 |
| 22Q4 (16) | 23.47 | -3.02 | -6.9 | 4.40 | 118.91 | -27.63 | 2.23 | -71.15 | -74.31 | 2.07 | -73.15 | -76.23 | 1.15 | -64.4 | -75.22 | 0.78 | -59.59 | -74.09 | 0.28 | 21.74 | -15.15 | 8.80 | -36.42 | -33.28 | 97.34 | -2.68 | 60.28 | 200.00 | 700.0 | 190.91 | -100.00 | -233.33 | -420.0 | 13.38 | -23.41 | -27.08 |
| 22Q3 (15) | 24.20 | -0.74 | -14.73 | 2.01 | 472.22 | -68.79 | 7.73 | 176.07 | -4.92 | 7.71 | 197.68 | 3.07 | 3.23 | 267.05 | 6.6 | 1.93 | 175.71 | -4.46 | 0.23 | 15.0 | -8.0 | 13.84 | 35.16 | -3.15 | 100.02 | 44.22 | 59.19 | 25.00 | 200.0 | -69.44 | 75.00 | -25.0 | 312.5 | 17.47 | -30.01 | -7.37 |
| 22Q2 (14) | 24.38 | -8.1 | -20.51 | -0.54 | -108.23 | 72.16 | 2.80 | -60.28 | 52.17 | 2.59 | -62.68 | 37.04 | 0.88 | -74.71 | 46.67 | 0.70 | -68.61 | 40.0 | 0.20 | -33.33 | 0.0 | 10.24 | -11.27 | -4.12 | 69.35 | -5.36 | 20.84 | -25.00 | -127.08 | 75.0 | 100.00 | 1200.0 | -50.0 | 24.96 | 57.48 | -14.58 |
| 22Q1 (13) | 26.53 | 5.24 | -2.82 | 6.56 | 7.89 | 14.69 | 7.05 | -18.78 | -10.31 | 6.94 | -20.32 | 3.89 | 3.48 | -25.0 | 29.37 | 2.23 | -25.91 | 27.43 | 0.30 | -9.09 | 20.0 | 11.54 | -12.51 | -22.24 | 73.28 | 20.67 | 35.23 | 92.31 | 34.27 | 31.87 | 7.69 | -75.38 | -74.36 | 15.85 | -13.62 | -29.21 |
| 21Q4 (12) | 25.21 | -11.17 | -15.88 | 6.08 | -5.59 | 55.5 | 8.68 | 6.77 | 106.67 | 8.71 | 16.44 | 134.77 | 4.64 | 53.14 | 172.94 | 3.01 | 49.01 | 181.31 | 0.33 | 32.0 | 22.22 | 13.19 | -7.7 | 24.91 | 60.73 | -3.34 | -13.88 | 68.75 | -15.97 | -31.25 | 31.25 | 71.88 | 0 | 18.35 | -2.7 | 0.44 |
| 21Q3 (11) | 28.38 | -7.47 | 9.62 | 6.44 | 431.96 | -15.04 | 8.13 | 341.85 | 27.63 | 7.48 | 295.77 | 25.93 | 3.03 | 405.0 | -13.92 | 2.02 | 304.0 | -11.01 | 0.25 | 25.0 | -30.56 | 14.29 | 33.8 | 20.49 | 62.83 | 9.48 | -5.05 | 81.82 | 181.82 | -30.77 | 18.18 | -90.91 | 200.0 | 18.86 | -35.46 | 0 |
| 21Q2 (10) | 30.67 | 12.34 | -2.79 | -1.94 | -133.92 | -119.21 | 1.84 | -76.59 | -83.85 | 1.89 | -71.71 | -83.41 | 0.60 | -77.7 | -88.28 | 0.50 | -71.43 | -84.23 | 0.20 | -20.0 | -25.93 | 10.68 | -28.03 | -44.89 | 57.39 | 5.91 | -7.75 | -100.00 | -242.86 | -215.38 | 200.00 | 566.67 | 1400.0 | 29.22 | 30.5 | 0 |
| 21Q1 (9) | 27.30 | -8.91 | 29.08 | 5.72 | 46.29 | 9433.33 | 7.86 | 87.14 | 142.59 | 6.68 | 80.05 | 103.04 | 2.69 | 58.24 | 64.02 | 1.75 | 63.55 | 66.67 | 0.25 | -7.41 | -10.71 | 14.84 | 40.53 | 39.47 | 54.19 | -23.16 | -26.1 | 70.00 | -30.0 | 0 | 30.00 | 0 | -62.5 | 22.39 | 22.55 | 0 |
| 20Q4 (8) | 29.97 | 15.76 | 65.03 | 3.91 | -48.42 | 701.54 | 4.20 | -34.07 | 524.24 | 3.71 | -37.54 | 474.75 | 1.70 | -51.7 | 353.73 | 1.07 | -52.86 | 586.36 | 0.27 | -25.0 | -28.95 | 10.56 | -10.96 | 102.69 | 70.52 | 6.57 | -11.92 | 100.00 | -15.38 | 100.0 | 0.00 | 100.0 | -100.0 | 18.27 | 0 | 15.71 |
| 20Q3 (7) | 25.89 | -17.94 | 43.43 | 7.58 | -24.95 | 296.86 | 6.37 | -44.07 | 152.78 | 5.94 | -47.85 | 135.71 | 3.52 | -31.25 | 153.24 | 2.27 | -28.39 | 129.29 | 0.36 | 33.33 | 12.5 | 11.86 | -38.8 | 18.6 | 66.17 | 6.37 | -7.27 | 118.18 | 36.36 | 57.58 | -18.18 | -236.36 | -172.73 | 0.00 | 0 | -100.0 |
| 20Q2 (6) | 31.55 | 49.17 | 80.6 | 10.10 | 16733.33 | 3507.14 | 11.39 | 251.54 | 11290.0 | 11.39 | 246.2 | 2323.4 | 5.12 | 212.2 | 2126.09 | 3.17 | 201.9 | 922.58 | 0.27 | -3.57 | -6.9 | 19.38 | 82.14 | 99.38 | 62.21 | -15.16 | -10.45 | 86.67 | 0 | 0 | 13.33 | -83.33 | 0 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 21.15 | 16.46 | 25.59 | 0.06 | 109.23 | 103.73 | 3.24 | 427.27 | 269.63 | 3.29 | 432.32 | 291.28 | 1.64 | 344.78 | 276.34 | 1.05 | 577.27 | 344.19 | 0.28 | -26.32 | -15.15 | 10.64 | 104.22 | 68.09 | 73.33 | -8.41 | 0.91 | 0.00 | -100.0 | -100.0 | 80.00 | 60.0 | 0 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 18.16 | 0.61 | 0.0 | -0.65 | -134.03 | 0.0 | -0.99 | -139.29 | 0.0 | -0.99 | -139.29 | 0.0 | -0.67 | -148.2 | 0.0 | -0.22 | -122.22 | 0.0 | 0.38 | 18.75 | 0.0 | 5.21 | -47.9 | 0.0 | 80.06 | 12.19 | 0.0 | 50.00 | -33.33 | 0.0 | 50.00 | 100.0 | 0.0 | 15.79 | -18.73 | 0.0 |
| 19Q3 (3) | 18.05 | 3.32 | 0.0 | 1.91 | 582.14 | 0.0 | 2.52 | 2420.0 | 0.0 | 2.52 | 436.17 | 0.0 | 1.39 | 504.35 | 0.0 | 0.99 | 219.35 | 0.0 | 0.32 | 10.34 | 0.0 | 10.00 | 2.88 | 0.0 | 71.36 | 2.72 | 0.0 | 75.00 | 0 | 0.0 | 25.00 | 0 | 0.0 | 19.43 | -6.54 | 0.0 |
| 19Q2 (2) | 17.47 | 3.74 | 0.0 | 0.28 | 117.39 | 0.0 | 0.10 | 105.24 | 0.0 | 0.47 | 127.33 | 0.0 | 0.23 | 124.73 | 0.0 | 0.31 | 172.09 | 0.0 | 0.29 | -12.12 | 0.0 | 9.72 | 53.55 | 0.0 | 69.47 | -4.4 | 0.0 | 0.00 | -100.0 | 0.0 | 0.00 | 0 | 0.0 | 20.79 | 9.83 | 0.0 |
| 19Q1 (1) | 16.84 | 0.0 | 0.0 | -1.61 | 0.0 | 0.0 | -1.91 | 0.0 | 0.0 | -1.72 | 0.0 | 0.0 | -0.93 | 0.0 | 0.0 | -0.43 | 0.0 | 0.0 | 0.33 | 0.0 | 0.0 | 6.33 | 0.0 | 0.0 | 72.67 | 0.0 | 0.0 | 100.00 | 0.0 | 0.0 | 0.00 | 0.0 | 0.0 | 18.93 | 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) | 19.44 | -21.04 | -9.53 | 0 | 9.80 | 91.24 | -8.30 | 0 | -8.56 | 0 | -11.75 | 0 | -4.56 | 0 | 0.67 | -34.95 | 3.80 | -65.39 | 113.47 | 16.57 | 117.07 | 60.98 | -14.63 | 0 | 0.00 | 0 | 25.23 | 47.29 |
| 2022 (9) | 24.62 | -10.47 | 3.50 | -23.41 | 5.12 | -12.72 | 4.89 | -30.74 | 4.77 | -28.27 | 8.81 | -19.4 | 5.63 | -20.25 | 1.03 | 4.04 | 10.98 | -19.15 | 97.34 | 60.28 | 72.73 | 13.45 | 27.27 | -24.03 | 0.00 | 0 | 17.13 | -20.25 |
| 2021 (8) | 27.50 | 1.93 | 4.57 | -16.15 | 5.87 | -6.53 | 7.06 | 13.87 | 6.65 | 11.58 | 10.93 | -7.06 | 7.06 | -0.84 | 0.99 | -12.39 | 13.58 | 3.9 | 60.73 | -13.88 | 64.10 | -25.88 | 35.90 | 232.05 | 0.00 | 0 | 21.48 | 22.95 |
| 2020 (7) | 26.98 | 52.77 | 5.45 | 0 | 6.28 | -8.7 | 6.20 | 0 | 5.96 | 59500.0 | 11.76 | 39100.0 | 7.12 | 917.14 | 1.13 | -17.52 | 13.07 | 70.85 | 70.52 | -11.92 | 86.49 | 0 | 10.81 | 0 | 0.00 | 0 | 17.47 | -5.77 |
| 2019 (6) | 17.66 | 28.53 | -0.05 | 0 | 6.88 | 21.49 | -0.11 | 0 | 0.01 | -98.15 | 0.03 | -97.39 | 0.70 | -44.0 | 1.37 | 0.0 | 7.65 | 15.38 | 80.06 | 49.87 | -0.00 | 0 | -0.00 | 0 | 0.20 | -56.27 | 18.54 | -2.68 |
| 2018 (5) | 13.74 | 5.45 | -2.23 | 0 | 5.66 | -11.0 | 0.13 | 0 | 0.54 | 0 | 1.15 | 0 | 1.25 | 0 | 1.37 | 19.13 | 6.63 | 180.93 | 53.42 | -8.01 | -1400.00 | 0 | 1500.00 | 13400.0 | 0.45 | 0 | 19.05 | -9.5 |
| 2017 (4) | 13.03 | 174.89 | -4.29 | 0 | 6.36 | -22.86 | -4.90 | 0 | -4.80 | 0 | -8.65 | 0 | -4.96 | 0 | 1.15 | 29.21 | 2.36 | 0 | 58.07 | 2.78 | 88.89 | -14.53 | 11.11 | 0 | 0.00 | 0 | 21.05 | -17.68 |
| 2016 (3) | 4.74 | -35.07 | -15.77 | 0 | 8.25 | -18.07 | -15.13 | 0 | -13.11 | 0 | -17.92 | 0 | -11.20 | 0 | 0.89 | 11.25 | -5.23 | 0 | 56.50 | 10.01 | 104.00 | 12.97 | -4.00 | 0 | 0.00 | 0 | 25.57 | 9.98 |
| 2015 (2) | 7.30 | -32.97 | -10.08 | 0 | 10.07 | 8.84 | -10.91 | 0 | -11.48 | 0 | -14.70 | 0 | -8.77 | 0 | 0.80 | -1.23 | 0.87 | -87.69 | 51.36 | -21.54 | 92.06 | 18.92 | 7.94 | -64.85 | 0.00 | 0 | 23.25 | -4.0 |
| 2014 (1) | 10.89 | 0 | -3.24 | 0 | 9.25 | 48.99 | -4.23 | 0 | -4.51 | 0 | -7.50 | 0 | -2.86 | 0 | 0.81 | -24.3 | 7.07 | 65.96 | 65.46 | -57.31 | 77.42 | 0 | 22.58 | -84.95 | 0.00 | 0 | 24.22 | 4.4 |
