- 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) | 22.79 | -10.13 | -7.81 | 0.00 | -100.0 | -100.0 | 1.18 | -72.43 | -43.27 | 1.21 | -67.39 | -30.86 | 0.74 | -69.55 | -42.64 | 0.32 | -71.17 | -44.83 | 0.25 | -7.41 | -10.71 | 13.71 | -14.53 | -9.33 | 144.51 | 2.58 | -12.67 | 0.00 | -100.0 | -100.0 | 100.00 | 161.54 | 328.57 | 32.95 | 5.27 | 2.04 |
| 23Q3 (19) | 25.36 | 0.44 | -3.68 | 2.65 | 112.0 | -21.6 | 4.28 | 12.04 | -11.93 | 3.71 | 3.06 | -8.4 | 2.43 | 3.85 | -23.1 | 1.11 | 5.71 | -14.62 | 0.27 | 0.0 | -10.0 | 16.04 | -1.96 | -5.92 | 140.87 | 1.7 | -14.46 | 61.76 | 85.29 | -12.1 | 38.24 | -42.65 | 23.02 | 31.30 | -3.37 | 1.2 |
| 23Q2 (18) | 25.25 | 14.0 | -1.75 | 1.25 | 303.23 | -40.48 | 3.82 | 61.86 | 135.8 | 3.60 | 60.71 | 129.3 | 2.34 | 52.94 | 110.81 | 1.05 | 52.17 | 101.92 | 0.27 | 0.0 | 0.0 | 16.36 | 6.16 | 7.14 | 138.51 | -7.87 | -14.44 | 33.33 | 183.33 | -74.44 | 66.67 | -21.84 | 319.05 | 32.39 | -2.94 | 1.63 |
| 23Q1 (17) | 22.15 | -10.4 | -10.14 | 0.31 | -80.86 | -73.73 | 2.36 | 13.46 | 143.3 | 2.24 | 28.0 | 250.0 | 1.53 | 18.6 | 264.29 | 0.69 | 18.97 | 176.0 | 0.27 | -3.57 | 8.0 | 15.41 | 1.92 | -0.39 | 150.35 | -9.14 | -6.52 | 11.76 | -85.29 | -90.44 | 85.29 | 265.55 | 469.61 | 33.37 | 3.34 | 0.09 |
| 22Q4 (16) | 24.72 | -6.11 | -0.08 | 1.62 | -52.07 | 452.17 | 2.08 | -57.2 | -59.92 | 1.75 | -56.79 | -61.37 | 1.29 | -59.18 | -56.12 | 0.58 | -55.38 | -54.33 | 0.28 | -6.67 | 7.69 | 15.12 | -11.32 | -22.62 | 165.48 | 0.49 | 8.31 | 80.00 | 13.85 | 1020.0 | 23.33 | -24.93 | -78.82 | 32.29 | 4.4 | -3.78 |
| 22Q3 (15) | 26.33 | 2.45 | 2.53 | 3.38 | 60.95 | 1977.78 | 4.86 | 200.0 | 247.14 | 4.05 | 157.96 | 326.32 | 3.16 | 184.68 | 474.55 | 1.30 | 150.0 | 306.25 | 0.30 | 11.11 | 20.0 | 17.05 | 11.66 | 4.41 | 164.68 | 1.72 | 14.2 | 70.27 | -46.13 | 697.3 | 31.08 | 202.12 | -72.19 | 30.93 | -2.95 | -2.77 |
| 22Q2 (14) | 25.70 | 4.26 | 8.67 | 2.10 | 77.97 | 252.17 | 1.62 | 67.01 | 1572.73 | 1.57 | 145.31 | 1221.43 | 1.11 | 164.29 | 1487.5 | 0.52 | 108.0 | 940.0 | 0.27 | 8.0 | 8.0 | 15.27 | -1.29 | 0.33 | 161.89 | 0.65 | 32.84 | 130.43 | 5.98 | -91.85 | -30.43 | -31.88 | 97.97 | 31.87 | -4.41 | -2.3 |
| 22Q1 (13) | 24.65 | -0.36 | 1.61 | 1.18 | 356.52 | -11.28 | 0.97 | -81.31 | -46.99 | 0.64 | -85.87 | -55.24 | 0.42 | -85.71 | -54.35 | 0.25 | -80.31 | -46.81 | 0.25 | -3.85 | -7.41 | 15.47 | -20.83 | -3.49 | 160.84 | 5.27 | 24.29 | 123.08 | 1515.38 | 66.52 | -23.08 | -120.95 | -188.46 | 33.34 | -0.66 | -0.74 |
| 21Q4 (12) | 24.74 | -3.66 | -2.56 | -0.46 | -155.56 | -138.33 | 5.19 | 270.71 | 148.33 | 4.53 | 376.84 | 71.59 | 2.94 | 434.55 | 62.43 | 1.27 | 296.88 | 53.01 | 0.26 | 4.0 | -7.14 | 19.54 | 19.66 | 23.75 | 152.79 | 5.96 | 8.8 | -8.70 | 26.09 | -115.22 | 110.14 | -1.45 | 157.0 | 33.56 | 5.5 | 1.48 |
| 21Q3 (11) | 25.68 | 8.58 | -7.63 | -0.18 | 86.96 | -104.4 | 1.40 | 1372.73 | -77.16 | 0.95 | 778.57 | -80.13 | 0.55 | 787.5 | -85.18 | 0.32 | 540.0 | -79.75 | 0.25 | 0.0 | -19.35 | 16.33 | 7.29 | -12.53 | 144.20 | 18.32 | 0.83 | -11.76 | -100.74 | -117.45 | 111.76 | 107.45 | 231.57 | 31.81 | -2.48 | 2.65 |
| 21Q2 (10) | 23.65 | -2.51 | -11.02 | -1.38 | -203.76 | -164.19 | -0.11 | -106.01 | -102.54 | -0.14 | -109.79 | -103.93 | -0.08 | -108.7 | -103.23 | 0.05 | -89.36 | -95.41 | 0.25 | -7.41 | -10.71 | 15.22 | -5.05 | -18.48 | 121.87 | -5.83 | -20.18 | 1600.00 | 2064.71 | 3042.86 | -1500.00 | -5850.0 | -3046.43 | 32.62 | -2.89 | 0 |
| 21Q1 (9) | 24.26 | -4.45 | -0.37 | 1.33 | 10.83 | -28.88 | 1.83 | -12.44 | 226.79 | 1.43 | -45.83 | 4666.67 | 0.92 | -49.17 | 4500.0 | 0.47 | -43.37 | 370.0 | 0.27 | -3.57 | -3.57 | 16.03 | 1.52 | 7.51 | 129.41 | -7.85 | -10.26 | 73.91 | 29.35 | -78.44 | 26.09 | -39.13 | 110.74 | 33.59 | 1.57 | -0.83 |
| 20Q4 (8) | 25.39 | -8.67 | 1.4 | 1.20 | -70.66 | -38.14 | 2.09 | -65.91 | 11.76 | 2.64 | -44.77 | 109.52 | 1.81 | -51.21 | 96.74 | 0.83 | -47.47 | 84.44 | 0.28 | -9.68 | -3.45 | 15.79 | -15.43 | 3.27 | 140.43 | -1.8 | -3.38 | 57.14 | -15.24 | -45.05 | 42.86 | 27.14 | 1171.43 | 33.07 | 6.71 | 1.69 |
| 20Q3 (7) | 27.80 | 4.59 | 1.72 | 4.09 | 90.23 | -5.98 | 6.13 | 41.57 | 34.43 | 4.78 | 34.27 | 6.46 | 3.71 | 49.6 | 4.21 | 1.58 | 44.95 | 10.49 | 0.31 | 10.71 | 3.33 | 18.67 | 0.0 | 10.21 | 143.01 | -6.34 | -10.32 | 67.42 | 32.42 | -29.37 | 33.71 | -33.79 | 641.57 | 30.99 | 0 | -0.51 |
| 20Q2 (6) | 26.58 | 9.16 | -0.23 | 2.15 | 14.97 | -47.94 | 4.33 | 673.21 | 7.71 | 3.56 | 11766.67 | 19.06 | 2.48 | 12300.0 | 9.73 | 1.09 | 990.0 | 14.74 | 0.28 | 0.0 | -3.45 | 18.67 | 25.22 | 9.89 | 152.69 | 5.88 | -9.07 | 50.91 | -85.15 | -50.88 | 50.91 | 120.96 | 1500.0 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 24.35 | -2.76 | -1.06 | 1.87 | -3.61 | -13.02 | 0.56 | -70.05 | -76.67 | 0.03 | -97.62 | -98.36 | 0.02 | -97.83 | -98.47 | 0.10 | -77.78 | -86.3 | 0.28 | -3.45 | -17.65 | 14.91 | -2.49 | -6.23 | 144.21 | -0.78 | -6.61 | 342.86 | 229.67 | 279.59 | -242.86 | -5971.43 | -2609.52 | 33.87 | 4.15 | 2.08 |
| 19Q4 (4) | 25.04 | -8.38 | 0.0 | 1.94 | -55.4 | 0.0 | 1.87 | -58.99 | 0.0 | 1.26 | -71.94 | 0.0 | 0.92 | -74.16 | 0.0 | 0.45 | -68.53 | 0.0 | 0.29 | -3.33 | 0.0 | 15.29 | -9.74 | 0.0 | 145.34 | -8.85 | 0.0 | 104.00 | 8.95 | 0.0 | -4.00 | -188.0 | 0.0 | 32.52 | 4.4 | 0.0 |
| 19Q3 (3) | 27.33 | 2.59 | 0.0 | 4.35 | 5.33 | 0.0 | 4.56 | 13.43 | 0.0 | 4.49 | 50.17 | 0.0 | 3.56 | 57.52 | 0.0 | 1.43 | 50.53 | 0.0 | 0.30 | 3.45 | 0.0 | 16.94 | -0.29 | 0.0 | 159.46 | -5.04 | 0.0 | 95.45 | -7.89 | 0.0 | 4.55 | 225.0 | 0.0 | 31.15 | -1.55 | 0.0 |
| 19Q2 (2) | 26.64 | 8.25 | 0.0 | 4.13 | 92.09 | 0.0 | 4.02 | 67.5 | 0.0 | 2.99 | 63.39 | 0.0 | 2.26 | 72.52 | 0.0 | 0.95 | 30.14 | 0.0 | 0.29 | -14.71 | 0.0 | 16.99 | 6.86 | 0.0 | 167.92 | 8.75 | 0.0 | 103.64 | 14.74 | 0.0 | -3.64 | -137.58 | 0.0 | 31.64 | -4.64 | 0.0 |
| 19Q1 (1) | 24.61 | 0.0 | 0.0 | 2.15 | 0.0 | 0.0 | 2.40 | 0.0 | 0.0 | 1.83 | 0.0 | 0.0 | 1.31 | 0.0 | 0.0 | 0.73 | 0.0 | 0.0 | 0.34 | 0.0 | 0.0 | 15.90 | 0.0 | 0.0 | 154.41 | 0.0 | 0.0 | 90.32 | 0.0 | 0.0 | 9.68 | 0.0 | 0.0 | 33.18 | 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) | 23.93 | -5.68 | 1.09 | -48.1 | 12.03 | -5.67 | 2.95 | 20.41 | 2.72 | 32.04 | 7.43 | 28.99 | 3.23 | 24.23 | 1.08 | 0.0 | 15.40 | -2.16 | 144.51 | -12.67 | 36.72 | -57.51 | 62.71 | 338.98 | 0.07 | -47.75 | 32.47 | 1.25 |
| 2022 (9) | 25.37 | 3.17 | 2.10 | 0 | 12.75 | -9.59 | 2.45 | 13.43 | 2.06 | 16.38 | 5.76 | 30.61 | 2.60 | 22.64 | 1.08 | 6.93 | 15.74 | -6.48 | 165.48 | 8.31 | 86.43 | 0 | 14.29 | -86.58 | 0.13 | -13.11 | 32.07 | -2.58 |
| 2021 (8) | 24.59 | -5.71 | -0.15 | 0 | 14.10 | 7.18 | 2.16 | -35.71 | 1.77 | -37.23 | 4.41 | -44.25 | 2.12 | -41.11 | 1.01 | -12.93 | 16.83 | -1.29 | 152.79 | 8.8 | -7.34 | 0 | 106.42 | 261.43 | 0.15 | -45.72 | 32.92 | 1.14 |
| 2020 (7) | 26.08 | 0.54 | 2.38 | -25.16 | 13.16 | 5.2 | 3.36 | 3.38 | 2.82 | 5.22 | 7.91 | -1.86 | 3.60 | -16.86 | 1.16 | -20.55 | 17.05 | 4.47 | 140.43 | -3.38 | 70.56 | -27.82 | 29.44 | 1210.28 | 0.28 | -20.37 | 32.55 | 1.4 |
| 2019 (6) | 25.94 | 0.39 | 3.18 | -0.31 | 12.51 | 277.57 | 3.25 | -0.91 | 2.68 | 16.52 | 8.06 | 18.88 | 4.33 | 5.61 | 1.46 | -17.98 | 16.32 | 138.6 | 145.34 | 123.84 | 97.75 | 0.08 | 2.25 | -3.37 | 0.35 | -13.93 | 32.10 | 1.81 |
| 2018 (5) | 25.84 | -1.34 | 3.19 | -13.08 | 3.31 | 1.22 | 3.28 | -17.59 | 2.30 | -23.84 | 6.78 | -20.61 | 4.10 | -21.31 | 1.78 | 3.49 | 6.84 | -9.04 | 64.93 | -1.41 | 97.67 | 5.77 | 2.33 | -69.61 | 0.41 | 0 | 31.53 | -0.91 |
| 2017 (4) | 26.19 | -4.1 | 3.67 | -5.17 | 3.27 | -14.24 | 3.98 | -2.93 | 3.02 | -6.5 | 8.54 | -4.9 | 5.21 | -7.3 | 1.72 | -1.15 | 7.52 | -7.16 | 65.86 | 5.75 | 92.35 | -2.55 | 7.65 | 32.88 | 0.00 | 0 | 31.82 | 2.98 |
| 2016 (3) | 27.31 | 3.13 | 3.87 | 26.06 | 3.82 | -14.27 | 4.10 | 43.86 | 3.23 | 65.64 | 8.98 | 70.4 | 5.62 | 64.33 | 1.74 | -0.57 | 8.10 | 8.87 | 62.28 | 8.31 | 94.76 | -12.2 | 5.76 | 0 | 0.00 | 0 | 30.90 | 0.62 |
| 2015 (2) | 26.48 | 3.68 | 3.07 | 160.17 | 4.45 | -17.68 | 2.85 | 66.67 | 1.95 | 83.96 | 5.27 | 88.89 | 3.42 | 83.87 | 1.75 | 0.0 | 7.44 | 1.36 | 57.50 | 12.83 | 107.94 | 57.59 | -7.94 | 0 | 0.00 | 0 | 30.71 | 0.07 |
| 2014 (1) | 25.54 | 0 | 1.18 | 0 | 5.41 | -5.36 | 1.71 | 0 | 1.06 | 0 | 2.79 | 0 | 1.86 | 0 | 1.75 | 1.16 | 7.34 | 5.61 | 50.96 | 3.79 | 68.49 | 15.91 | 31.51 | -22.98 | 0.00 | 0 | 30.69 | 2.3 |
