- 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) | 7.58 | 2.02 | -42.49 | 1.37 | 158.49 | -80.09 | -0.01 | -100.13 | -100.31 | 0.57 | -91.8 | -60.69 | 0.09 | -92.8 | -67.86 | 0.17 | -80.0 | -37.04 | 0.10 | 0.0 | -9.09 | 12.21 | -32.32 | 9.7 | 71.98 | -0.58 | 4.59 | -10787.50 | -160767.46 | -5139.82 | 10887.50 | 11571.12 | 9646.66 | 11.14 | -16.99 | -0.18 |
| 23Q3 (19) | 7.43 | 13.09 | -27.44 | 0.53 | 223.26 | -86.23 | 7.93 | 164.33 | 3.12 | 6.95 | 213.06 | 10.14 | 1.25 | 228.95 | -3.85 | 0.85 | 157.58 | 1.19 | 0.10 | 0.0 | -16.67 | 18.04 | 34.63 | 22.97 | 72.40 | -8.78 | 4.08 | 6.71 | 146.54 | -86.59 | 93.29 | -18.48 | 86.87 | 13.42 | -4.96 | 11.37 |
| 23Q2 (18) | 6.57 | -18.08 | -60.85 | -0.43 | -127.22 | -104.01 | 3.00 | 4.17 | -84.8 | 2.22 | -12.25 | -86.78 | 0.38 | -11.63 | -89.78 | 0.33 | -8.33 | -85.9 | 0.10 | 0.0 | -28.57 | 13.40 | 7.37 | -47.57 | 79.37 | -1.2 | 9.57 | -14.43 | -126.29 | -126.54 | 114.43 | 153.64 | 150.75 | 14.12 | -1.26 | 33.71 |
| 23Q1 (17) | 8.02 | -39.15 | -58.16 | 1.58 | -77.03 | -88.02 | 2.88 | -10.28 | -85.34 | 2.53 | 74.48 | -84.13 | 0.43 | 53.57 | -88.35 | 0.36 | 33.33 | -85.25 | 0.10 | -9.09 | -33.33 | 12.48 | 12.13 | -50.32 | 80.33 | 16.72 | 54.42 | 54.89 | -74.36 | -18.26 | 45.11 | 139.56 | 37.31 | 14.30 | 28.14 | 49.27 |
| 22Q4 (16) | 13.18 | 28.71 | -43.51 | 6.88 | 78.7 | -61.17 | 3.21 | -58.26 | -85.06 | 1.45 | -77.02 | -91.6 | 0.28 | -78.46 | -93.69 | 0.27 | -67.86 | -90.59 | 0.11 | -8.33 | -31.25 | 11.13 | -24.13 | -58.02 | 68.82 | -1.06 | 22.96 | 214.05 | 327.42 | 159.64 | -114.05 | -328.45 | -749.44 | 11.16 | -7.39 | 24.97 |
| 22Q3 (15) | 10.24 | -38.97 | -60.92 | 3.85 | -64.12 | -81.3 | 7.69 | -61.04 | -71.58 | 6.31 | -62.42 | -71.33 | 1.30 | -65.05 | -78.76 | 0.84 | -64.1 | -78.07 | 0.12 | -14.29 | -29.41 | 14.67 | -42.61 | -54.17 | 69.56 | -3.98 | 19.68 | 50.08 | -7.88 | -34.17 | 49.92 | 9.39 | 108.69 | 12.05 | 14.11 | 28.33 |
| 22Q2 (14) | 16.78 | -12.47 | -38.67 | 10.73 | -18.65 | -51.47 | 19.74 | 0.46 | -28.53 | 16.79 | 5.33 | -26.68 | 3.72 | 0.81 | -40.76 | 2.34 | -4.1 | -39.69 | 0.14 | -6.67 | -17.65 | 25.56 | 1.75 | -21.81 | 72.44 | 39.25 | 8.79 | 54.37 | -19.03 | -32.08 | 45.63 | 38.89 | 128.73 | 10.56 | 10.23 | 12.94 |
| 22Q1 (13) | 19.17 | -17.83 | -19.59 | 13.19 | -25.56 | -27.13 | 19.65 | -8.56 | -19.04 | 15.94 | -7.7 | -21.28 | 3.69 | -16.89 | -25.3 | 2.44 | -14.98 | -20.78 | 0.15 | -6.25 | 0.0 | 25.12 | -5.24 | -16.32 | 52.02 | -7.06 | -15.54 | 67.14 | -18.55 | -9.94 | 32.86 | 87.1 | 29.14 | 9.58 | 7.28 | -8.15 |
| 21Q4 (12) | 23.33 | -10.95 | 21.38 | 17.72 | -13.94 | 33.03 | 21.49 | -20.58 | 24.87 | 17.27 | -21.54 | 9.17 | 4.44 | -27.45 | 20.98 | 2.87 | -25.07 | 26.99 | 0.16 | -5.88 | 14.29 | 26.51 | -17.18 | 14.91 | 55.97 | -3.7 | -12.51 | 82.44 | 8.36 | 6.53 | 17.56 | -26.59 | -22.35 | 8.93 | -4.9 | -49.15 |
| 21Q3 (11) | 26.20 | -4.24 | 93.79 | 20.59 | -6.87 | 211.5 | 27.06 | -2.03 | 55.7 | 22.01 | -3.89 | 39.57 | 6.12 | -2.55 | 85.45 | 3.83 | -1.29 | 91.5 | 0.17 | 0.0 | 41.67 | 32.01 | -2.08 | 33.1 | 58.12 | -12.72 | -14.23 | 76.08 | -4.96 | 100.2 | 23.92 | 19.9 | -61.42 | 9.39 | 0.43 | -28.16 |
| 21Q2 (10) | 27.36 | 14.77 | 116.63 | 22.11 | 22.15 | 304.2 | 27.62 | 13.8 | 470.66 | 22.90 | 13.09 | 464.04 | 6.28 | 27.13 | 737.33 | 3.88 | 25.97 | 676.0 | 0.17 | 13.33 | 54.55 | 32.69 | 8.89 | 167.95 | 66.59 | 8.12 | -6.75 | 80.05 | 7.36 | -29.22 | 19.95 | -21.58 | 252.44 | 9.35 | -10.35 | 0 |
| 21Q1 (9) | 23.84 | 24.04 | 107.67 | 18.10 | 35.89 | 316.09 | 24.27 | 41.02 | 672.93 | 20.25 | 28.0 | 1025.0 | 4.94 | 34.6 | 1352.94 | 3.08 | 36.28 | 1040.74 | 0.15 | 7.14 | 25.0 | 30.02 | 30.13 | 202.32 | 61.59 | -3.72 | 1.57 | 74.56 | -3.66 | -46.18 | 25.44 | 12.51 | 166.01 | 10.43 | -40.6 | -21.4 |
| 20Q4 (8) | 19.22 | 42.16 | 68.6 | 13.32 | 101.51 | 186.45 | 17.21 | -0.98 | 145.51 | 15.82 | 0.32 | 165.44 | 3.67 | 11.21 | 205.83 | 2.26 | 13.0 | 175.61 | 0.14 | 16.67 | 7.69 | 23.07 | -4.07 | 75.57 | 63.97 | -5.59 | 14.23 | 77.39 | 103.65 | 16.72 | 22.61 | -63.53 | -32.89 | 17.56 | 34.35 | -15.78 |
| 20Q3 (7) | 13.52 | 7.05 | 46.64 | 6.61 | 20.84 | 140.36 | 17.38 | 259.09 | 40.5 | 15.77 | 288.42 | 39.31 | 3.30 | 340.0 | 46.02 | 2.00 | 300.0 | 34.23 | 0.12 | 9.09 | 0.0 | 24.05 | 97.13 | 28.13 | 67.76 | -5.11 | 17.86 | 38.00 | -66.4 | 71.24 | 62.01 | 573.78 | -20.31 | 13.07 | 0 | 6.09 |
| 20Q2 (6) | 12.63 | 10.02 | 32.95 | 5.47 | 25.75 | 70.94 | 4.84 | 54.14 | -49.9 | 4.06 | 125.56 | -49.88 | 0.75 | 120.59 | -50.66 | 0.50 | 85.19 | -50.98 | 0.11 | -8.33 | -8.33 | 12.20 | 22.86 | -22.78 | 71.41 | 17.76 | 15.93 | 113.09 | -18.37 | 241.13 | -13.09 | 66.04 | -119.58 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 11.48 | 0.7 | 24.92 | 4.35 | -6.45 | 35.51 | 3.14 | -55.21 | -61.8 | 1.80 | -69.8 | -74.4 | 0.34 | -71.67 | -73.23 | 0.27 | -67.07 | -71.58 | 0.12 | -7.69 | 0.0 | 9.93 | -24.43 | -33.53 | 60.64 | 8.29 | 37.44 | 138.54 | 108.96 | 254.44 | -38.54 | -214.38 | -163.26 | 13.27 | -36.35 | 12.17 |
| 19Q4 (4) | 11.40 | 23.64 | 0.0 | 4.65 | 69.09 | 0.0 | 7.01 | -43.33 | 0.0 | 5.96 | -47.35 | 0.0 | 1.20 | -46.9 | 0.0 | 0.82 | -44.97 | 0.0 | 0.13 | 8.33 | 0.0 | 13.14 | -29.99 | 0.0 | 56.00 | -2.59 | 0.0 | 66.30 | 198.78 | 0.0 | 33.70 | -56.69 | 0.0 | 20.85 | 69.24 | 0.0 |
| 19Q3 (3) | 9.22 | -2.95 | 0.0 | 2.75 | -14.06 | 0.0 | 12.37 | 28.05 | 0.0 | 11.32 | 39.75 | 0.0 | 2.26 | 48.68 | 0.0 | 1.49 | 46.08 | 0.0 | 0.12 | 0.0 | 0.0 | 18.77 | 18.8 | 0.0 | 57.49 | -6.67 | 0.0 | 22.19 | -33.06 | 0.0 | 77.81 | 16.42 | 0.0 | 12.32 | 3.27 | 0.0 |
| 19Q2 (2) | 9.50 | 3.37 | 0.0 | 3.20 | -0.31 | 0.0 | 9.66 | 17.52 | 0.0 | 8.10 | 15.22 | 0.0 | 1.52 | 19.69 | 0.0 | 1.02 | 7.37 | 0.0 | 0.12 | 0.0 | 0.0 | 15.80 | 5.76 | 0.0 | 61.60 | 39.62 | 0.0 | 33.15 | -15.19 | 0.0 | 66.83 | 9.69 | 0.0 | 11.93 | 0.85 | 0.0 |
| 19Q1 (1) | 9.19 | 0.0 | 0.0 | 3.21 | 0.0 | 0.0 | 8.22 | 0.0 | 0.0 | 7.03 | 0.0 | 0.0 | 1.27 | 0.0 | 0.0 | 0.95 | 0.0 | 0.0 | 0.12 | 0.0 | 0.0 | 14.94 | 0.0 | 0.0 | 44.12 | 0.0 | 0.0 | 39.09 | 0.0 | 0.0 | 60.93 | 0.0 | 0.0 | 11.83 | 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) | 7.41 | -51.19 | 0.76 | -91.57 | 8.64 | 57.24 | 3.51 | -73.79 | 3.12 | -71.22 | 2.10 | -77.54 | 1.72 | -71.57 | 0.40 | -24.53 | 14.08 | -28.96 | 71.98 | 4.59 | 21.73 | -67.74 | 78.27 | 139.79 | 0.24 | -9.15 | 13.26 | 23.23 |
| 2022 (9) | 15.18 | -39.83 | 9.02 | -54.17 | 5.49 | 24.5 | 13.39 | -46.72 | 10.84 | -47.4 | 9.35 | -56.71 | 6.05 | -55.94 | 0.53 | -19.7 | 19.82 | -34.59 | 68.82 | 22.96 | 67.36 | -13.96 | 32.64 | 50.34 | 0.26 | -9.81 | 10.76 | 13.38 |
| 2021 (8) | 25.23 | 74.12 | 19.68 | 153.61 | 4.41 | -20.77 | 25.13 | 125.79 | 20.61 | 109.45 | 21.60 | 186.09 | 13.73 | 180.2 | 0.66 | 37.5 | 30.30 | 70.7 | 55.97 | -12.51 | 78.29 | 12.3 | 21.71 | -28.31 | 0.29 | -20.7 | 9.49 | -35.13 |
| 2020 (7) | 14.49 | 47.41 | 7.76 | 124.93 | 5.57 | 4.5 | 11.13 | 19.42 | 9.84 | 21.33 | 7.55 | 20.8 | 4.90 | 12.39 | 0.48 | -5.88 | 17.75 | 13.27 | 63.97 | 14.23 | 69.72 | 88.23 | 30.28 | -51.9 | 0.36 | -13.22 | 14.63 | 2.74 |
| 2019 (6) | 9.83 | -33.17 | 3.45 | -60.93 | 5.33 | 10.99 | 9.32 | -49.54 | 8.11 | -48.7 | 6.25 | -55.26 | 4.36 | -55.05 | 0.51 | -15.0 | 15.67 | -35.65 | 56.00 | 18.17 | 37.04 | -22.55 | 62.96 | 20.66 | 0.42 | -5.34 | 14.24 | 38.93 |
| 2018 (5) | 14.71 | -9.81 | 8.83 | -9.44 | 4.80 | -9.64 | 18.47 | -9.95 | 15.81 | -10.32 | 13.97 | -7.05 | 9.70 | -5.18 | 0.60 | 5.26 | 24.35 | -9.81 | 47.39 | -1.6 | 47.82 | 0.57 | 52.18 | -0.52 | 0.44 | 0 | 10.25 | -4.12 |
| 2017 (4) | 16.31 | 42.57 | 9.75 | 102.28 | 5.31 | -8.71 | 20.51 | 4.86 | 17.63 | -0.34 | 15.03 | 6.29 | 10.23 | 7.46 | 0.57 | 9.62 | 27.00 | 1.5 | 48.16 | -9.18 | 47.55 | 92.76 | 52.45 | -30.37 | 0.00 | 0 | 10.69 | -8.55 |
| 2016 (3) | 11.44 | -5.61 | 4.82 | -22.26 | 5.82 | 10.19 | 19.56 | 34.34 | 17.69 | 46.93 | 14.14 | 31.53 | 9.52 | 32.59 | 0.52 | -8.77 | 26.60 | 26.07 | 53.03 | 1.96 | 24.67 | -42.11 | 75.33 | 31.26 | 0.00 | 0 | 11.69 | 15.51 |
| 2015 (2) | 12.12 | 35.87 | 6.20 | 84.52 | 5.28 | 12.18 | 14.56 | 37.49 | 12.04 | 19.56 | 10.75 | 3.07 | 7.18 | 9.79 | 0.57 | -8.06 | 21.10 | 27.42 | 52.01 | -13.33 | 42.61 | 34.26 | 57.39 | -15.93 | 0.00 | 0 | 10.12 | 11.95 |
| 2014 (1) | 8.92 | 0 | 3.36 | 0 | 4.71 | -0.67 | 10.59 | 0 | 10.07 | 0 | 10.43 | 0 | 6.54 | 0 | 0.62 | -1.59 | 16.56 | 4.41 | 60.01 | -22.66 | 31.74 | -33.67 | 68.26 | 30.89 | 0.00 | 0 | 9.04 | 2.26 |
