- 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) | 21.42 | 1.71 | 1.23 | 6.33 | 3.26 | -17.69 | 6.22 | -11.27 | -20.05 | 4.76 | -2.66 | -22.35 | 1.90 | -4.04 | -22.13 | 1.16 | -1.69 | -24.68 | 0.23 | 0.0 | -4.17 | 10.25 | -7.07 | -12.47 | 68.05 | -12.01 | 15.59 | 100.00 | 16.67 | 0.0 | 0.00 | -100.0 | 0 | 9.38 | 26.93 | 7.57 |
| 23Q3 (19) | 21.06 | -2.73 | 6.31 | 6.13 | 34.14 | -4.37 | 7.01 | 2.94 | -0.99 | 4.89 | -8.26 | -9.94 | 1.98 | 3.13 | -7.91 | 1.18 | -0.84 | -7.09 | 0.23 | 9.52 | 4.55 | 11.03 | -0.99 | 1.57 | 77.34 | -5.57 | 10.28 | 85.71 | 26.05 | -4.0 | 10.71 | -66.52 | 0.0 | 7.39 | -31.7 | -11.07 |
| 23Q2 (18) | 21.65 | 14.61 | 8.58 | 4.57 | -31.28 | -32.79 | 6.81 | -0.58 | -4.62 | 5.33 | -23.31 | 0.95 | 1.92 | -25.58 | -9.0 | 1.19 | -28.74 | -4.8 | 0.21 | -8.7 | -8.7 | 11.14 | 4.01 | 4.7 | 81.90 | 37.0 | -2.84 | 68.00 | -29.38 | -29.66 | 32.00 | 764.0 | 860.0 | 10.82 | 25.81 | 19.69 |
| 23Q1 (17) | 18.89 | -10.73 | -6.81 | 6.65 | -13.52 | -26.36 | 6.85 | -11.95 | -27.97 | 6.95 | 13.38 | -4.4 | 2.58 | 5.74 | -17.04 | 1.67 | 8.44 | -10.7 | 0.23 | -4.17 | -8.0 | 10.71 | -8.54 | -9.54 | 59.78 | 1.55 | -8.47 | 96.30 | -3.7 | 0.78 | 3.70 | 0 | -16.67 | 8.60 | -1.38 | 1.06 |
| 22Q4 (16) | 21.16 | 6.81 | 1.88 | 7.69 | 19.97 | -21.05 | 7.78 | 9.89 | -25.12 | 6.13 | 12.89 | -30.34 | 2.44 | 13.49 | -50.61 | 1.54 | 21.26 | -48.15 | 0.24 | 9.09 | -27.27 | 11.71 | 7.83 | -5.87 | 58.87 | -16.06 | -18.13 | 100.00 | 12.0 | 6.9 | 0.00 | -100.0 | -100.0 | 8.72 | 4.93 | -2.13 |
| 22Q3 (15) | 19.81 | -0.65 | -3.88 | 6.41 | -5.74 | -32.74 | 7.08 | -0.84 | -29.55 | 5.43 | 2.84 | -30.65 | 2.15 | 1.9 | -47.17 | 1.27 | 1.6 | -46.41 | 0.22 | -4.35 | -26.67 | 10.86 | 2.07 | -11.49 | 70.13 | -16.8 | 6.74 | 89.29 | -7.64 | -5.66 | 10.71 | 221.43 | 100.0 | 8.31 | -8.08 | 14.94 |
| 22Q2 (14) | 19.94 | -1.63 | -18.08 | 6.80 | -24.7 | -50.97 | 7.14 | -24.92 | -50.52 | 5.28 | -27.37 | -51.74 | 2.11 | -32.15 | -69.94 | 1.25 | -33.16 | -67.95 | 0.23 | -8.0 | -34.29 | 10.64 | -10.14 | -34.8 | 84.29 | 29.06 | 3.86 | 96.67 | 1.16 | 0.78 | 3.33 | -25.0 | -18.33 | 9.04 | 6.23 | 30.64 |
| 22Q1 (13) | 20.27 | -2.41 | -3.71 | 9.03 | -7.29 | -20.16 | 9.51 | -8.47 | -15.17 | 7.27 | -17.39 | -13.76 | 3.11 | -37.04 | -41.87 | 1.87 | -37.04 | -39.48 | 0.25 | -24.24 | -30.56 | 11.84 | -4.82 | -11.04 | 65.31 | -9.18 | -19.11 | 95.56 | 2.15 | -4.44 | 4.44 | -31.11 | 415.56 | 8.51 | -4.49 | 48.0 |
| 21Q4 (12) | 20.77 | 0.78 | 6.19 | 9.74 | 2.2 | 20.4 | 10.39 | 3.38 | 13.18 | 8.80 | 12.39 | 26.8 | 4.94 | 21.38 | 33.88 | 2.97 | 25.32 | 32.59 | 0.33 | 10.0 | 3.13 | 12.44 | 1.39 | 6.23 | 71.91 | 9.45 | 4.67 | 93.55 | -1.16 | 4.96 | 6.45 | 20.43 | -40.65 | 8.91 | 23.24 | 17.86 |
| 21Q3 (11) | 20.61 | -15.32 | -4.54 | 9.53 | -31.29 | 3.81 | 10.05 | -30.35 | 2.97 | 7.83 | -28.43 | 7.7 | 4.07 | -42.02 | 29.21 | 2.37 | -39.23 | 23.44 | 0.30 | -14.29 | 15.38 | 12.27 | -24.82 | -6.76 | 65.70 | -19.05 | 4.53 | 94.64 | -1.33 | 2.53 | 5.36 | 31.25 | 4.46 | 7.23 | 4.48 | -13.52 |
| 21Q2 (10) | 24.34 | 15.63 | 15.03 | 13.87 | 22.63 | 53.09 | 14.43 | 28.72 | 54.0 | 10.94 | 29.77 | 63.04 | 7.02 | 31.21 | 136.36 | 3.90 | 26.21 | 113.11 | 0.35 | -2.78 | 29.63 | 16.32 | 22.61 | 26.81 | 81.16 | 0.52 | 16.59 | 95.92 | -4.08 | -1.49 | 4.08 | 389.8 | 55.1 | 6.92 | 20.35 | 0 |
| 21Q1 (9) | 21.05 | 7.62 | 19.47 | 11.31 | 39.8 | 100.89 | 11.21 | 22.11 | 69.34 | 8.43 | 21.47 | 10.48 | 5.35 | 44.99 | 90.39 | 3.09 | 37.95 | 70.72 | 0.36 | 12.5 | 56.52 | 13.31 | 13.66 | 21.55 | 80.74 | 17.53 | 30.6 | 100.00 | 12.2 | 15.79 | -1.41 | -112.96 | -110.33 | 5.75 | -23.94 | -19.13 |
| 20Q4 (8) | 19.56 | -9.4 | 7.12 | 8.09 | -11.87 | 29.65 | 9.18 | -5.94 | 33.43 | 6.94 | -4.54 | 14.9 | 3.69 | 17.14 | 23.83 | 2.24 | 16.67 | 16.06 | 0.32 | 23.08 | 3.23 | 11.71 | -11.02 | 9.85 | 68.70 | 9.31 | 29.87 | 89.13 | -3.44 | -4.5 | 10.87 | 111.96 | 8.7 | 7.56 | -9.57 | -3.32 |
| 20Q3 (7) | 21.59 | 2.03 | 35.11 | 9.18 | 1.32 | 54.29 | 9.76 | 4.16 | 57.67 | 7.27 | 8.35 | 49.9 | 3.15 | 6.06 | 29.1 | 1.92 | 4.92 | 24.68 | 0.26 | -3.7 | -16.13 | 13.16 | 2.25 | 32.53 | 62.85 | -9.71 | 4.19 | 92.31 | -5.2 | -4.14 | 5.13 | 94.87 | 38.46 | 8.36 | 0 | 20.81 |
| 20Q2 (6) | 21.16 | 20.09 | 44.83 | 9.06 | 60.92 | 116.75 | 9.37 | 41.54 | 115.4 | 6.71 | -12.06 | 89.55 | 2.97 | 5.69 | 83.33 | 1.83 | 1.1 | 71.03 | 0.27 | 17.39 | -3.57 | 12.87 | 17.53 | 49.48 | 69.61 | 12.6 | 6.11 | 97.37 | 12.74 | 3.1 | 2.63 | -80.7 | -52.63 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 17.62 | -3.5 | 27.68 | 5.63 | -9.78 | 105.47 | 6.62 | -3.78 | 91.88 | 7.63 | 26.32 | 174.46 | 2.81 | -5.7 | 153.15 | 1.81 | -6.22 | 135.06 | 0.23 | -25.81 | 4.55 | 10.95 | 2.72 | 27.33 | 61.82 | 16.86 | -8.18 | 86.36 | -7.47 | 12.27 | 13.64 | 36.36 | -40.91 | 7.11 | -9.08 | 4.41 |
| 19Q4 (4) | 18.26 | 14.27 | 0.0 | 6.24 | 4.87 | 0.0 | 6.88 | 11.15 | 0.0 | 6.04 | 24.54 | 0.0 | 2.98 | 22.13 | 0.0 | 1.93 | 25.32 | 0.0 | 0.31 | 0.0 | 0.0 | 10.66 | 7.35 | 0.0 | 52.90 | -12.3 | 0.0 | 93.33 | -3.08 | 0.0 | 10.00 | 170.0 | 0.0 | 7.82 | 13.01 | 0.0 |
| 19Q3 (3) | 15.98 | 9.38 | 0.0 | 5.95 | 42.34 | 0.0 | 6.19 | 42.3 | 0.0 | 4.85 | 37.01 | 0.0 | 2.44 | 50.62 | 0.0 | 1.54 | 43.93 | 0.0 | 0.31 | 10.71 | 0.0 | 9.93 | 15.33 | 0.0 | 60.32 | -8.05 | 0.0 | 96.30 | 1.96 | 0.0 | 3.70 | -33.33 | 0.0 | 6.92 | 6.96 | 0.0 |
| 19Q2 (2) | 14.61 | 5.87 | 0.0 | 4.18 | 52.55 | 0.0 | 4.35 | 26.09 | 0.0 | 3.54 | 27.34 | 0.0 | 1.62 | 45.95 | 0.0 | 1.07 | 38.96 | 0.0 | 0.28 | 27.27 | 0.0 | 8.61 | 0.12 | 0.0 | 65.60 | -2.57 | 0.0 | 94.44 | 22.78 | 0.0 | 5.56 | -75.93 | 0.0 | 6.47 | -4.99 | 0.0 |
| 19Q1 (1) | 13.80 | 0.0 | 0.0 | 2.74 | 0.0 | 0.0 | 3.45 | 0.0 | 0.0 | 2.78 | 0.0 | 0.0 | 1.11 | 0.0 | 0.0 | 0.77 | 0.0 | 0.0 | 0.22 | 0.0 | 0.0 | 8.60 | 0.0 | 0.0 | 67.33 | 0.0 | 0.0 | 76.92 | 0.0 | 0.0 | 23.08 | 0.0 | 0.0 | 6.81 | 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) | 20.74 | 2.22 | 5.95 | -21.09 | 3.66 | 19.75 | 6.72 | -15.37 | 5.48 | -9.72 | 8.34 | -14.2 | 5.38 | -11.07 | 0.93 | -4.12 | 10.78 | -4.43 | 68.05 | 15.59 | 88.57 | -6.58 | 11.43 | 120.41 | 0.06 | -1.48 | 9.01 | 4.16 |
| 2022 (9) | 20.29 | -6.88 | 7.54 | -32.92 | 3.06 | 63.32 | 7.94 | -31.79 | 6.07 | -33.15 | 9.72 | -55.41 | 6.05 | -53.21 | 0.97 | -31.21 | 11.28 | -17.66 | 58.87 | -18.13 | 94.81 | -1.75 | 5.19 | 48.3 | 0.06 | 0 | 8.65 | 20.64 |
| 2021 (8) | 21.79 | 8.68 | 11.24 | 39.11 | 1.87 | -40.97 | 11.64 | 31.67 | 9.08 | 27.89 | 21.80 | 75.24 | 12.93 | 65.13 | 1.41 | 29.36 | 13.70 | 11.84 | 71.91 | 4.67 | 96.50 | 5.21 | 3.50 | -57.75 | 0.00 | 0 | 7.17 | -12.13 |
| 2020 (7) | 20.05 | 27.3 | 8.08 | 65.91 | 3.17 | -14.39 | 8.84 | 66.79 | 7.10 | 62.1 | 12.44 | 55.31 | 7.83 | 56.29 | 1.09 | 1.87 | 12.25 | 29.08 | 68.70 | 29.87 | 91.72 | -0.45 | 8.28 | 5.22 | 0.12 | -43.23 | 8.16 | 20.18 |
| 2019 (6) | 15.75 | 2.14 | 4.87 | -15.3 | 3.70 | 16.26 | 5.30 | -5.36 | 4.38 | 4.04 | 8.01 | -6.32 | 5.01 | 2.04 | 1.07 | 0.94 | 9.49 | 1.06 | 52.90 | -40.41 | 92.13 | -10.38 | 7.87 | 0 | 0.22 | 276.3 | 6.79 | 1.19 |
| 2018 (5) | 15.42 | -2.84 | 5.75 | -1.37 | 3.18 | 4.42 | 5.60 | -19.89 | 4.21 | -30.07 | 8.55 | -28.57 | 4.91 | -26.39 | 1.06 | -0.93 | 9.39 | -9.62 | 88.77 | -7.85 | 102.80 | 22.82 | -2.80 | 0 | 0.06 | 0 | 6.71 | -4.69 |
| 2017 (4) | 15.87 | -23.96 | 5.83 | -38.24 | 3.05 | -5.17 | 6.99 | -28.09 | 6.02 | -21.61 | 11.97 | -17.11 | 6.67 | -20.6 | 1.07 | 0.94 | 10.39 | -21.53 | 96.33 | 25.76 | 83.70 | -13.92 | 16.30 | 489.93 | 0.00 | 0 | 7.04 | -13.94 |
| 2016 (3) | 20.87 | 4.09 | 9.44 | 7.64 | 3.22 | 15.64 | 9.72 | 8.36 | 7.68 | 3.09 | 14.44 | -3.6 | 8.40 | 0.84 | 1.06 | -1.85 | 13.24 | 8.52 | 76.60 | 0.14 | 97.24 | -0.47 | 2.76 | 20.17 | 0.00 | 0 | 8.18 | 4.2 |
| 2015 (2) | 20.05 | 30.96 | 8.77 | 93.17 | 2.78 | -0.58 | 8.97 | 95.85 | 7.45 | 111.65 | 14.98 | 87.48 | 8.33 | 89.32 | 1.08 | -4.42 | 12.20 | 52.5 | 76.49 | -21.59 | 97.70 | -1.24 | 2.30 | 113.79 | 0.00 | 0 | 7.85 | 23.43 |
| 2014 (1) | 15.31 | 0 | 4.54 | 0 | 2.80 | 1.21 | 4.58 | 0 | 3.52 | 0 | 7.99 | 0 | 4.40 | 0 | 1.13 | -8.87 | 8.00 | -9.6 | 97.55 | -7.44 | 98.92 | 4.22 | 1.08 | -74.62 | 0.00 | 0 | 6.36 | 5.3 |
