- 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) | 21.47 | 4.89 | -18.37 | 11.50 | 34.82 | -30.01 | 10.75 | 18.65 | -26.32 | 9.32 | 16.65 | -28.09 | 3.77 | 46.12 | -28.33 | 2.28 | 44.3 | -26.21 | 0.22 | 22.22 | -4.35 | 19.64 | -1.9 | -14.94 | 80.74 | -4.2 | 7.61 | 107.00 | 13.64 | -4.98 | -7.00 | -219.68 | 44.48 | 12.70 | -17.85 | 9.01 |
| 23Q3 (19) | 20.47 | 126.94 | -21.18 | 8.53 | 206.36 | -47.12 | 9.06 | 531.43 | -46.14 | 7.99 | 1148.44 | -44.28 | 2.58 | 2050.0 | -55.67 | 1.58 | 586.96 | -53.12 | 0.18 | 80.0 | -21.74 | 20.02 | 17.7 | -17.82 | 84.28 | 7.79 | 5.76 | 94.15 | -75.31 | -1.82 | 5.85 | 102.08 | 42.56 | 15.46 | -13.78 | 27.98 |
| 23Q2 (18) | 9.02 | -43.94 | -52.82 | -8.02 | -307.77 | -199.26 | -2.10 | -173.43 | -118.06 | 0.64 | -76.64 | -94.07 | 0.12 | -81.82 | -96.19 | 0.23 | -54.0 | -87.96 | 0.10 | -28.57 | -41.18 | 17.01 | 2.35 | -24.13 | 78.19 | -0.08 | 5.05 | 381.41 | 181.91 | 448.82 | -281.41 | -697.34 | -1022.58 | 17.93 | 26.0 | 14.79 |
| 23Q1 (17) | 16.09 | -38.82 | -14.55 | 3.86 | -76.51 | -54.8 | 2.86 | -80.4 | -70.79 | 2.74 | -78.86 | -66.5 | 0.66 | -87.45 | -72.5 | 0.50 | -83.82 | -65.75 | 0.14 | -39.13 | -17.65 | 16.62 | -28.02 | -17.97 | 78.25 | 4.29 | 11.9 | 135.29 | 20.15 | 55.15 | -35.29 | -180.03 | -375.14 | 14.23 | 22.15 | -4.56 |
| 22Q4 (16) | 26.30 | 1.27 | 21.99 | 16.43 | 1.86 | 11.69 | 14.59 | -13.26 | 3.18 | 12.96 | -9.62 | 6.58 | 5.26 | -9.62 | -16.24 | 3.09 | -8.31 | -14.4 | 0.23 | 0.0 | -20.69 | 23.09 | -5.21 | 14.88 | 75.03 | -5.85 | 3.58 | 112.60 | 17.42 | 8.26 | -12.60 | -407.31 | -213.44 | 11.65 | -3.56 | 11.7 |
| 22Q3 (15) | 25.97 | 35.83 | 23.08 | 16.13 | 99.63 | 36.12 | 16.82 | 44.63 | 36.19 | 14.34 | 32.78 | 37.36 | 5.82 | 84.76 | 37.59 | 3.37 | 76.44 | 38.68 | 0.23 | 35.29 | 0.0 | 24.36 | 8.65 | 22.41 | 79.69 | 7.07 | -1.88 | 95.90 | 37.99 | -0.08 | 4.10 | -86.55 | 1.8 | 12.08 | -22.66 | -16.8 |
| 22Q2 (14) | 19.12 | 1.54 | 17.73 | 8.08 | -5.39 | 97.56 | 11.63 | 18.79 | 191.48 | 10.80 | 32.03 | 192.68 | 3.15 | 31.25 | 188.99 | 1.91 | 30.82 | 180.88 | 0.17 | 0.0 | 0.0 | 22.42 | 10.66 | 59.91 | 74.43 | 6.44 | 0.17 | 69.50 | -20.3 | -32.1 | 30.50 | 137.79 | 1394.2 | 15.62 | 4.76 | -9.08 |
| 22Q1 (13) | 18.83 | -12.66 | 7.78 | 8.54 | -41.94 | 74.64 | 9.79 | -30.76 | 39.26 | 8.18 | -32.73 | 60.08 | 2.40 | -61.78 | 76.47 | 1.46 | -59.56 | 75.9 | 0.17 | -41.38 | 13.33 | 20.26 | 0.8 | 14.46 | 69.93 | -3.46 | -6.25 | 87.20 | -16.16 | 25.2 | 12.83 | 419.01 | -57.74 | 14.91 | 42.95 | -10.02 |
| 21Q4 (12) | 21.56 | 2.18 | -5.6 | 14.71 | 24.14 | 0.41 | 14.14 | 14.49 | 6.72 | 12.16 | 16.48 | 10.85 | 6.28 | 48.46 | 0.96 | 3.61 | 48.56 | -3.99 | 0.29 | 26.09 | -14.71 | 20.10 | 1.01 | 12.48 | 72.44 | -10.81 | -2.23 | 104.01 | 8.37 | -5.91 | -4.02 | -199.81 | 61.86 | 10.43 | -28.17 | 0.1 |
| 21Q3 (11) | 21.10 | 29.93 | 9.1 | 11.85 | 189.73 | 26.06 | 12.35 | 209.52 | 36.01 | 10.44 | 182.93 | 43.01 | 4.23 | 288.07 | 60.23 | 2.43 | 257.35 | 45.51 | 0.23 | 35.29 | 4.55 | 19.90 | 41.94 | 26.67 | 81.22 | 9.31 | 32.71 | 95.97 | -6.24 | -7.24 | 4.03 | 270.94 | 215.1 | 14.52 | -15.48 | 0.62 |
| 21Q2 (10) | 16.24 | -7.04 | -8.2 | 4.09 | -16.36 | -40.64 | 3.99 | -43.24 | -43.88 | 3.69 | -27.79 | -47.06 | 1.09 | -19.85 | -47.6 | 0.68 | -18.07 | -51.08 | 0.17 | 13.33 | -10.53 | 14.02 | -20.79 | -6.22 | 74.30 | -0.39 | 9.72 | 102.36 | 46.96 | 5.67 | -2.36 | -107.77 | -175.26 | 17.18 | 3.68 | 0 |
| 21Q1 (9) | 17.47 | -23.51 | -0.91 | 4.89 | -66.62 | -29.54 | 7.03 | -46.94 | -26.85 | 5.11 | -53.42 | -29.22 | 1.36 | -78.14 | -2.86 | 0.83 | -77.93 | -17.0 | 0.15 | -55.88 | 15.38 | 17.70 | -0.95 | -18.43 | 74.59 | 0.67 | 61.21 | 69.65 | -36.99 | -3.6 | 30.35 | 387.88 | 9.38 | 16.57 | 59.02 | -6.12 |
| 20Q4 (8) | 22.84 | 18.1 | -13.97 | 14.65 | 55.85 | -11.8 | 13.25 | 45.93 | -7.15 | 10.97 | 50.27 | -11.32 | 6.22 | 135.61 | 5.78 | 3.76 | 125.15 | -0.53 | 0.34 | 54.55 | 13.33 | 17.87 | 13.75 | -9.01 | 74.09 | 21.06 | 35.13 | 110.54 | 6.84 | -5.01 | -10.54 | -201.2 | 35.61 | 10.42 | -27.79 | 0 |
| 20Q3 (7) | 19.34 | 9.33 | -17.6 | 9.40 | 36.43 | -36.4 | 9.08 | 27.71 | -44.97 | 7.30 | 4.73 | -45.72 | 2.64 | 26.92 | -52.94 | 1.67 | 20.14 | -53.74 | 0.22 | 15.79 | -15.38 | 15.71 | 5.08 | -29.74 | 61.20 | -9.63 | -3.71 | 103.47 | 6.81 | 15.52 | -3.50 | -211.77 | -133.54 | 14.43 | 0 | 11.6 |
| 20Q2 (6) | 17.69 | 0.34 | -11.73 | 6.89 | -0.72 | 9.37 | 7.11 | -26.01 | -22.63 | 6.97 | -3.46 | -9.83 | 2.08 | 48.57 | -3.7 | 1.39 | 39.0 | -5.44 | 0.19 | 46.15 | 5.56 | 14.95 | -31.11 | -18.93 | 67.72 | 46.36 | 21.58 | 96.87 | 34.07 | 41.34 | 3.13 | -88.71 | -90.05 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 17.63 | -33.6 | 10.39 | 6.94 | -58.22 | 20.91 | 9.61 | -32.66 | 93.36 | 7.22 | -41.63 | 121.47 | 1.40 | -76.19 | 75.0 | 1.00 | -73.54 | 63.93 | 0.13 | -56.67 | -7.14 | 21.70 | 10.49 | 34.53 | 46.27 | -15.61 | -22.12 | 72.25 | -37.91 | -37.4 | 27.75 | 269.46 | 279.9 | 17.65 | 0 | 17.9 |
| 19Q4 (4) | 26.55 | 13.12 | 0.0 | 16.61 | 12.38 | 0.0 | 14.27 | -13.52 | 0.0 | 12.37 | -8.03 | 0.0 | 5.88 | 4.81 | 0.0 | 3.78 | 4.71 | 0.0 | 0.30 | 15.38 | 0.0 | 19.64 | -12.16 | 0.0 | 54.83 | -13.74 | 0.0 | 116.37 | 29.93 | 0.0 | -16.37 | -256.91 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 23.47 | 17.12 | 0.0 | 14.78 | 134.6 | 0.0 | 16.50 | 79.54 | 0.0 | 13.45 | 74.0 | 0.0 | 5.61 | 159.72 | 0.0 | 3.61 | 145.58 | 0.0 | 0.26 | 44.44 | 0.0 | 22.36 | 21.26 | 0.0 | 63.56 | 14.11 | 0.0 | 89.56 | 30.68 | 0.0 | 10.44 | -66.83 | 0.0 | 12.93 | -25.3 | 0.0 |
| 19Q2 (2) | 20.04 | 25.49 | 0.0 | 6.30 | 9.76 | 0.0 | 9.19 | 84.91 | 0.0 | 7.73 | 137.12 | 0.0 | 2.16 | 170.0 | 0.0 | 1.47 | 140.98 | 0.0 | 0.18 | 28.57 | 0.0 | 18.44 | 14.32 | 0.0 | 55.70 | -6.24 | 0.0 | 68.54 | -40.62 | 0.0 | 31.46 | 303.98 | 0.0 | 17.31 | 15.63 | 0.0 |
| 19Q1 (1) | 15.97 | 0.0 | 0.0 | 5.74 | 0.0 | 0.0 | 4.97 | 0.0 | 0.0 | 3.26 | 0.0 | 0.0 | 0.80 | 0.0 | 0.0 | 0.61 | 0.0 | 0.0 | 0.14 | 0.0 | 0.0 | 16.13 | 0.0 | 0.0 | 59.41 | 0.0 | 0.0 | 115.42 | 0.0 | 0.0 | -15.42 | 0.0 | 0.0 | 14.97 | 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) | 18.14 | -22.08 | 6.05 | -53.82 | 10.46 | 26.2 | 6.64 | -51.53 | 6.23 | -48.0 | 7.06 | -57.65 | 4.63 | -53.37 | 0.64 | -20.0 | 18.71 | -17.79 | 80.74 | 7.61 | 91.16 | -4.69 | 8.84 | 102.94 | 0.95 | 3.58 | 14.60 | 10.44 |
| 2022 (9) | 23.28 | 18.17 | 13.10 | 28.68 | 8.28 | 11.74 | 13.70 | 30.98 | 11.98 | 35.67 | 16.67 | 32.41 | 9.93 | 32.58 | 0.80 | -2.44 | 22.76 | 23.29 | 75.03 | 3.58 | 95.65 | -1.7 | 4.35 | 61.62 | 0.92 | -13.4 | 13.22 | -4.89 |
| 2021 (8) | 19.70 | -2.72 | 10.18 | -5.48 | 7.41 | 19.74 | 10.46 | -0.48 | 8.83 | 0.68 | 12.59 | 6.33 | 7.49 | 1.22 | 0.82 | 0.0 | 18.46 | 6.95 | 72.44 | -2.23 | 97.30 | -5.08 | 2.69 | 0 | 1.06 | -11.15 | 13.90 | 5.38 |
| 2020 (7) | 20.25 | -10.67 | 10.77 | -12.65 | 6.19 | -3.76 | 10.51 | -15.58 | 8.77 | -15.1 | 11.84 | -19.57 | 7.40 | -20.0 | 0.82 | -4.65 | 17.26 | -12.16 | 74.09 | 35.13 | 102.51 | 3.55 | -2.51 | 0 | 1.20 | 364.46 | 13.19 | -4.28 |
| 2019 (6) | 22.67 | 2.58 | 12.33 | -2.07 | 6.43 | 12.54 | 12.45 | 0.08 | 10.33 | 5.62 | 14.72 | -14.91 | 9.25 | -0.64 | 0.86 | -3.37 | 19.65 | 3.37 | 54.83 | -30.92 | 99.00 | -2.2 | 1.00 | 0 | 0.26 | 291.94 | 13.78 | 12.03 |
| 2018 (5) | 22.10 | 35.33 | 12.59 | 58.76 | 5.72 | 11.44 | 12.44 | 59.9 | 9.78 | 57.74 | 17.30 | 19.39 | 9.31 | 37.32 | 0.89 | -11.0 | 19.01 | 38.96 | 79.37 | -35.93 | 101.22 | -0.69 | -1.22 | 0 | 0.07 | -8.72 | 12.30 | 1.4 |
| 2017 (4) | 16.33 | 7.29 | 7.93 | 41.61 | 5.13 | -18.54 | 7.78 | 20.81 | 6.20 | 47.97 | 14.49 | 68.68 | 6.78 | 65.77 | 1.00 | 12.36 | 13.68 | 2.24 | 123.88 | -16.43 | 101.92 | 17.15 | -1.92 | 0 | 0.07 | 0 | 12.13 | -8.38 |
| 2016 (3) | 15.22 | -20.56 | 5.60 | -42.56 | 6.30 | 14.43 | 6.44 | -41.19 | 4.19 | -53.55 | 8.59 | -58.74 | 4.09 | -55.35 | 0.89 | -8.25 | 13.38 | -21.85 | 148.24 | 27.82 | 87.00 | -2.22 | 13.00 | 17.75 | 0.00 | 0 | 13.24 | 18.21 |
| 2015 (2) | 19.16 | 1.59 | 9.75 | -6.43 | 5.50 | -0.39 | 10.95 | 4.19 | 9.02 | 1.69 | 20.82 | -10.76 | 9.16 | 0.66 | 0.97 | 0.0 | 17.12 | 1.78 | 115.98 | -30.53 | 88.97 | -10.28 | 11.04 | 1215.73 | 0.00 | 0 | 11.20 | 33.02 |
| 2014 (1) | 18.86 | 0 | 10.42 | 0 | 5.52 | -2.64 | 10.51 | 0 | 8.87 | 0 | 23.33 | 0 | 9.10 | 0 | 0.97 | -1.02 | 16.82 | 6.39 | 166.95 | -6.34 | 99.16 | -2.7 | 0.84 | 0 | 0.00 | 0 | 8.42 | -32.64 |
