- 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) | 19.97 | -21.16 | 72.01 | 1.27 | -81.13 | 117.26 | 3.11 | -48.34 | 126.58 | 2.76 | -44.91 | 143.95 | 0.60 | -52.0 | 147.24 | 0.53 | -44.21 | 189.83 | 0.15 | -6.25 | 15.38 | 18.70 | -2.76 | 188.58 | 46.90 | -7.8 | -19.0 | 42.86 | -59.66 | -33.04 | 57.14 | 557.14 | 58.73 | 31.98 | 12.41 | 2.6 |
| 23Q3 (19) | 25.33 | 10.85 | -0.04 | 6.73 | 40.5 | -33.95 | 6.02 | -13.38 | -7.1 | 5.01 | 126.7 | -18.67 | 1.25 | 150.0 | -26.04 | 0.95 | 106.52 | -15.93 | 0.16 | 6.67 | 0.0 | 19.23 | -8.95 | -2.53 | 50.87 | -2.08 | -20.47 | 106.25 | 54.55 | -32.71 | -12.50 | -140.0 | 78.41 | 28.45 | -6.97 | 91.84 |
| 23Q2 (18) | 22.85 | 1.96 | -10.81 | 4.79 | 150.79 | -63.1 | 6.95 | 816.49 | -36.36 | 2.21 | 170.38 | -64.12 | 0.50 | 183.33 | -72.22 | 0.46 | 300.0 | -61.02 | 0.15 | 25.0 | -11.76 | 21.12 | 24.82 | -11.34 | 51.95 | 2.28 | -35.75 | 68.75 | 134.38 | -41.31 | 31.25 | -89.58 | 256.25 | 30.58 | 15.22 | 18.85 |
| 23Q1 (17) | 22.41 | 93.02 | -18.09 | 1.91 | 125.95 | -82.27 | -0.97 | 91.71 | -108.94 | -3.14 | 50.0 | -145.18 | -0.60 | 52.76 | -131.58 | -0.23 | 61.02 | -118.4 | 0.12 | -7.69 | -25.0 | 16.92 | 161.11 | -24.6 | 50.79 | -12.28 | -24.16 | -200.00 | -412.5 | -300.0 | 300.00 | 733.33 | 0 | 26.54 | -14.85 | -10.13 |
| 22Q4 (16) | 11.61 | -54.18 | -69.34 | -7.36 | -172.23 | -129.42 | -11.70 | -280.56 | -147.85 | -6.28 | -201.95 | -128.45 | -1.27 | -175.15 | -115.36 | -0.59 | -152.21 | -111.75 | 0.13 | -18.75 | -40.91 | 6.48 | -67.16 | -80.41 | 57.90 | -9.47 | -14.98 | 64.00 | -59.47 | -37.31 | 36.00 | 162.18 | 1828.0 | 31.17 | 110.18 | 39.46 |
| 22Q3 (15) | 25.34 | -1.09 | -20.89 | 10.19 | -21.49 | -45.68 | 6.48 | -40.66 | -60.37 | 6.16 | 0.0 | -51.61 | 1.69 | -6.11 | -60.42 | 1.13 | -4.24 | -58.61 | 0.16 | -5.88 | -20.0 | 19.73 | -17.17 | -24.64 | 63.96 | -20.89 | -8.63 | 157.89 | 34.79 | 38.16 | -57.89 | -189.47 | -305.26 | 14.83 | -42.36 | -19.18 |
| 22Q2 (14) | 25.62 | -6.36 | -27.5 | 12.98 | 20.52 | -26.58 | 10.92 | 0.65 | -25.21 | 6.16 | -11.37 | -57.58 | 1.80 | -5.26 | -56.63 | 1.18 | -5.6 | -56.46 | 0.17 | 6.25 | -5.56 | 23.82 | 6.15 | -8.84 | 80.85 | 20.73 | 38.87 | 117.14 | 17.14 | -3.53 | -20.00 | 0 | 6.67 | 25.73 | -12.87 | 8.2 |
| 22Q1 (13) | 27.36 | -27.75 | -32.33 | 10.77 | -56.95 | -56.15 | 10.85 | -55.62 | -52.72 | 6.95 | -68.51 | -62.08 | 1.90 | -77.03 | -70.45 | 1.25 | -75.1 | -69.66 | 0.16 | -27.27 | -27.27 | 22.44 | -32.16 | -30.61 | 66.97 | -1.66 | 6.93 | 100.00 | -2.04 | -7.23 | 0.00 | 100.0 | 100.0 | 29.53 | 32.13 | 30.84 |
| 21Q4 (12) | 37.87 | 18.23 | 11.98 | 25.02 | 33.37 | 22.65 | 24.45 | 49.54 | 18.98 | 22.07 | 73.37 | 22.41 | 8.27 | 93.68 | 14.23 | 5.02 | 83.88 | 5.68 | 0.22 | 10.0 | -15.38 | 33.08 | 26.36 | 14.5 | 68.10 | -2.71 | 16.95 | 102.08 | -10.68 | 3.48 | -2.08 | 85.42 | -254.17 | 22.35 | 21.8 | -2.32 |
| 21Q3 (11) | 32.03 | -9.37 | -0.16 | 18.76 | 6.11 | -2.65 | 16.35 | 11.99 | -7.52 | 12.73 | -12.33 | -16.69 | 4.27 | 2.89 | -13.03 | 2.73 | 0.74 | -18.02 | 0.20 | 11.11 | -4.76 | 26.18 | 0.19 | -8.53 | 70.00 | 20.23 | 30.48 | 114.29 | -5.88 | 3.3 | -14.29 | 33.33 | -67.86 | 18.35 | -22.83 | -3.47 |
| 21Q2 (10) | 35.34 | -12.59 | 40.8 | 17.68 | -28.01 | 61.31 | 14.60 | -36.38 | 61.5 | 14.52 | -20.79 | 43.05 | 4.15 | -35.46 | 50.91 | 2.71 | -34.22 | 48.9 | 0.18 | -18.18 | 5.88 | 26.13 | -19.2 | 21.2 | 58.22 | -7.04 | -2.66 | 121.43 | 12.65 | 1.19 | -21.43 | -230.0 | -7.14 | 23.78 | 5.36 | 0 |
| 21Q1 (9) | 40.43 | 19.54 | 96.93 | 24.56 | 20.39 | 420.34 | 22.95 | 11.68 | 766.04 | 18.33 | 1.66 | 2904.92 | 6.43 | -11.19 | 4186.67 | 4.12 | -13.26 | 1772.73 | 0.22 | -15.38 | 57.14 | 32.34 | 11.94 | 89.12 | 62.63 | 7.56 | -6.59 | 107.79 | 9.27 | -40.12 | -6.49 | -580.52 | 91.88 | 22.57 | -1.35 | -4.12 |
| 20Q4 (8) | 33.82 | 5.42 | 139.69 | 20.40 | 5.86 | 2944.78 | 20.55 | 16.23 | 483.4 | 18.03 | 18.0 | 398.02 | 7.24 | 47.45 | 530.95 | 4.75 | 42.64 | 645.98 | 0.26 | 23.81 | 52.94 | 28.89 | 0.94 | 406.84 | 58.23 | 8.54 | -11.57 | 98.65 | -10.84 | 691.89 | 1.35 | 115.88 | -98.84 | 22.88 | 20.36 | -8.52 |
| 20Q3 (7) | 32.08 | 27.81 | 67.61 | 19.27 | 75.82 | 245.96 | 17.68 | 95.58 | 872.05 | 15.28 | 50.54 | 860.2 | 4.91 | 78.55 | 918.33 | 3.33 | 82.97 | 2058.82 | 0.21 | 23.53 | 10.53 | 28.62 | 32.75 | 188.51 | 53.65 | -10.3 | -9.73 | 110.64 | -7.8 | 147.42 | -8.51 | 57.45 | -102.55 | 19.01 | 0 | -22.53 |
| 20Q2 (6) | 25.10 | 22.26 | 318.45 | 10.96 | 132.2 | 135.54 | 9.04 | 241.13 | 129.99 | 10.15 | 1563.93 | 135.54 | 2.75 | 1733.33 | 152.88 | 1.82 | 727.27 | 158.52 | 0.17 | 21.43 | 54.55 | 21.56 | 26.08 | 343.34 | 59.81 | -10.8 | -8.15 | 120.00 | -33.33 | 17.55 | -20.00 | 75.0 | -860.0 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 20.53 | 45.5 | 422.29 | 4.72 | 604.48 | 117.62 | 2.65 | 149.44 | 111.01 | 0.61 | 110.08 | 102.29 | 0.15 | 108.93 | 103.44 | 0.22 | 125.29 | 108.46 | 0.14 | -17.65 | 40.0 | 17.10 | 200.0 | 2414.71 | 67.05 | 1.82 | 14.73 | 180.00 | 1180.0 | 62.0 | -80.00 | -168.57 | -620.0 | 23.54 | -5.88 | -26.69 |
| 19Q4 (4) | 14.11 | -26.28 | 0.0 | 0.67 | -87.97 | 0.0 | -5.36 | -134.06 | 0.0 | -6.05 | -201.0 | 0.0 | -1.68 | -180.0 | 0.0 | -0.87 | -411.76 | 0.0 | 0.17 | -10.53 | 0.0 | 5.70 | -42.54 | 0.0 | 65.85 | 10.8 | 0.0 | -16.67 | 92.86 | 0.0 | 116.67 | -65.0 | 0.0 | 25.01 | 1.92 | 0.0 |
| 19Q3 (3) | 19.14 | 266.58 | 0.0 | 5.57 | 118.06 | 0.0 | -2.29 | 92.4 | 0.0 | -2.01 | 92.96 | 0.0 | -0.60 | 88.46 | 0.0 | -0.17 | 94.53 | 0.0 | 0.19 | 72.73 | 0.0 | 9.92 | 211.96 | 0.0 | 59.43 | -8.74 | 0.0 | -233.33 | -328.57 | 0.0 | 333.33 | 16100.0 | 0.0 | 24.54 | -19.67 | 0.0 |
| 19Q2 (2) | -11.49 | -80.38 | 0.0 | -30.84 | -15.12 | 0.0 | -30.14 | -25.27 | 0.0 | -28.56 | -7.41 | 0.0 | -5.20 | -19.27 | 0.0 | -3.11 | -19.62 | 0.0 | 0.11 | 10.0 | 0.0 | -8.86 | -1402.94 | 0.0 | 65.12 | 11.43 | 0.0 | 102.08 | -8.13 | 0.0 | -2.08 | 81.25 | 0.0 | 30.55 | -4.86 | 0.0 |
| 19Q1 (1) | -6.37 | 0.0 | 0.0 | -26.79 | 0.0 | 0.0 | -24.06 | 0.0 | 0.0 | -26.59 | 0.0 | 0.0 | -4.36 | 0.0 | 0.0 | -2.60 | 0.0 | 0.0 | 0.10 | 0.0 | 0.0 | 0.68 | 0.0 | 0.0 | 58.44 | 0.0 | 0.0 | 111.11 | 0.0 | 0.0 | -11.11 | 0.0 | 0.0 | 32.11 | 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) | 22.74 | -2.61 | 3.83 | -50.83 | 13.76 | 12.87 | 4.01 | -26.29 | 1.97 | -50.75 | 1.72 | -59.53 | 1.68 | -48.31 | 0.57 | -12.31 | 19.07 | 0.42 | 46.90 | -19.0 | 94.59 | -33.35 | 5.41 | 0 | 0.06 | -46.92 | 29.45 | 18.04 |
| 2022 (9) | 23.35 | -36.04 | 7.79 | -64.25 | 12.19 | 36.72 | 5.44 | -72.76 | 4.00 | -76.74 | 4.25 | -81.62 | 3.25 | -77.77 | 0.65 | -20.73 | 18.99 | -36.06 | 57.90 | -14.98 | 141.94 | 29.95 | -43.55 | 0 | 0.12 | -26.44 | 24.95 | 14.98 |
| 2021 (8) | 36.51 | 25.59 | 21.79 | 43.26 | 8.92 | -10.83 | 19.97 | 41.93 | 17.20 | 38.49 | 23.12 | 55.69 | 14.62 | 50.41 | 0.82 | 10.81 | 29.70 | 17.9 | 68.10 | 16.95 | 109.23 | 0.93 | -9.23 | 0 | 0.16 | -19.18 | 21.70 | -2.78 |
| 2020 (7) | 29.07 | 331.95 | 15.21 | 0 | 10.00 | -30.53 | 14.07 | 0 | 12.42 | 0 | 14.85 | 0 | 9.72 | 0 | 0.74 | 29.82 | 25.19 | 692.14 | 58.23 | -11.57 | 108.22 | 49.73 | -8.22 | 0 | 0.20 | -45.53 | 22.32 | -18.27 |
| 2019 (6) | 6.73 | 96.21 | -9.25 | 0 | 14.39 | 48.8 | -12.87 | 0 | -13.14 | 0 | -11.99 | 0 | -6.84 | 0 | 0.57 | -18.57 | 3.18 | 3080.0 | 65.85 | 21.09 | 72.28 | -16.72 | 27.72 | 109.9 | 0.37 | -12.31 | 27.31 | 22.08 |
| 2018 (5) | 3.43 | -17.15 | -9.08 | 0 | 9.67 | -13.93 | -10.49 | 0 | -10.41 | 0 | -11.12 | 0 | -6.94 | 0 | 0.70 | 37.25 | 0.10 | 0 | 54.38 | 9.97 | 86.79 | -0.81 | 13.21 | -0.94 | 0.43 | 0 | 22.37 | -23.07 |
| 2017 (4) | 4.14 | -0.96 | -13.51 | 0 | 11.24 | -12.21 | -15.52 | 0 | -15.52 | 0 | -11.55 | 0 | -7.70 | 0 | 0.51 | 8.51 | -3.49 | 0 | 49.45 | 20.67 | 87.50 | -2.69 | 13.33 | 32.22 | 0.00 | 0 | 29.08 | -17.01 |
| 2016 (3) | 4.18 | 47.18 | -14.43 | 0 | 12.80 | 5.44 | -16.05 | 0 | -14.88 | 0 | -10.48 | 0 | -6.73 | 0 | 0.47 | -16.07 | -2.29 | 0 | 40.98 | -28.9 | 89.92 | -24.67 | 10.08 | 0 | 0.00 | 0 | 35.04 | -4.89 |
| 2015 (2) | 2.84 | -87.13 | -13.17 | 0 | 12.14 | 25.78 | -11.06 | 0 | -9.61 | 0 | -8.24 | 0 | -4.96 | 0 | 0.56 | -20.0 | 2.02 | -90.57 | 57.64 | 14.05 | 119.35 | 47.77 | -19.35 | 0 | 0.00 | 0 | 36.84 | 18.46 |
| 2014 (1) | 22.07 | 0 | 8.87 | 0 | 9.65 | 5.3 | 10.95 | 0 | 7.55 | 0 | 7.86 | 0 | 5.73 | 0 | 0.70 | 6.06 | 21.41 | 43.11 | 50.54 | 12.64 | 80.77 | 29.23 | 19.23 | -48.72 | 0.00 | 0 | 31.10 | -0.58 |
