- 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) | 5.39 | -65.02 | -65.27 | -31.70 | -6791.3 | -670.14 | 304.92 | 7466.25 | 5890.57 | 293.31 | 8162.25 | 7805.93 | 43.58 | 7044.26 | 4392.78 | 34.10 | 7313.04 | 4386.84 | 0.12 | 0.0 | -40.0 | 307.58 | 4238.22 | 4238.22 | 15.25 | -67.64 | -49.97 | -10.43 | -25.12 | -109.56 | 110.33 | 1.84 | 1313.6 | 38.81 | 103.41 | 168.4 |
| 23Q3 (19) | 15.41 | -4.4 | 34.35 | -0.46 | -119.91 | -146.0 | 4.03 | -20.67 | -32.61 | 3.55 | -10.13 | -32.77 | 0.61 | -26.51 | -51.2 | 0.46 | -31.34 | -53.54 | 0.12 | -29.41 | -36.84 | 7.09 | -3.41 | -13.75 | 47.13 | 78.32 | 58.85 | -8.33 | -118.75 | -147.92 | 108.33 | 95.0 | 31.14 | 19.08 | 5.24 | 34.94 |
| 23Q2 (18) | 16.12 | -0.68 | 405.88 | 2.31 | -58.0 | 115.82 | 5.08 | 4.1 | 137.77 | 3.95 | 1.28 | 162.7 | 0.83 | -13.54 | 158.87 | 0.67 | -11.84 | 160.36 | 0.17 | -10.53 | -5.56 | 7.34 | 5.31 | 166.25 | 26.43 | -1.23 | 1.11 | 44.44 | -59.6 | -58.91 | 55.56 | 470.37 | 780.56 | 18.13 | 27.23 | 10.95 |
| 23Q1 (17) | 16.23 | 4.57 | 93.91 | 5.50 | -1.08 | 330.13 | 4.88 | -4.13 | 1138.3 | 3.90 | 5.12 | 835.85 | 0.96 | -1.03 | 972.73 | 0.76 | 0.0 | 944.44 | 0.19 | -5.0 | 11.76 | 6.97 | -1.69 | 248.5 | 26.76 | -12.2 | 5.98 | 110.00 | 0.83 | -72.5 | -15.00 | -65.0 | 95.71 | 14.25 | -1.45 | -10.38 |
| 22Q4 (16) | 15.52 | 35.31 | 77.17 | 5.56 | 456.0 | 473.15 | 5.09 | -14.88 | 1796.67 | 3.71 | -29.73 | 698.39 | 0.97 | -22.4 | 792.86 | 0.76 | -23.23 | 733.33 | 0.20 | 5.26 | 5.26 | 7.09 | -13.75 | 275.13 | 30.48 | 2.73 | 37.86 | 109.09 | 527.27 | -81.82 | -9.09 | -111.0 | 97.73 | 14.46 | 2.26 | 5.39 |
| 22Q3 (15) | 11.47 | 317.65 | 69.17 | 1.00 | 106.85 | 126.39 | 5.98 | 144.46 | 322.3 | 5.28 | 183.81 | 283.33 | 1.25 | 188.65 | 311.86 | 0.99 | 189.19 | 302.04 | 0.19 | 5.56 | 11.76 | 8.22 | 174.19 | 0 | 29.67 | 13.5 | 47.03 | 17.39 | -83.92 | -86.96 | 82.61 | 1111.96 | 285.87 | 14.14 | -13.46 | -18.64 |
| 22Q2 (14) | -5.27 | -162.96 | -199.25 | -14.60 | -510.88 | -215.33 | -13.45 | -2761.7 | -3462.5 | -6.30 | -1088.68 | -2839.13 | -1.41 | -1181.82 | -3625.0 | -1.11 | -1133.33 | -3800.0 | 0.18 | 5.88 | 20.0 | -11.08 | -654.0 | -422.09 | 26.14 | 3.52 | 43.31 | 108.16 | -72.96 | 108.32 | -8.16 | 97.67 | -100.54 | 16.34 | 2.77 | -14.94 |
| 22Q1 (13) | 8.37 | -4.45 | 58.22 | -2.39 | -60.4 | 61.01 | -0.47 | -56.67 | 90.29 | -0.53 | 14.52 | 89.98 | -0.11 | 21.43 | 87.78 | -0.09 | 25.0 | 87.84 | 0.17 | -10.53 | 21.43 | 2.00 | 5.82 | 207.53 | 25.25 | 14.2 | 36.71 | 400.00 | -33.33 | 225.0 | -350.00 | 12.5 | -1416.67 | 15.90 | 15.89 | -22.82 |
| 21Q4 (12) | 8.76 | 29.2 | 750.49 | -1.49 | 60.69 | 86.56 | -0.30 | 88.85 | 95.03 | -0.62 | 78.47 | 87.87 | -0.14 | 76.27 | 81.08 | -0.12 | 75.51 | 79.66 | 0.19 | 11.76 | 58.33 | 1.89 | 0 | 317.24 | 22.11 | 9.56 | -6.83 | 600.00 | 350.0 | 223.08 | -400.00 | -800.0 | -366.67 | 13.72 | -21.06 | -42.76 |
| 21Q3 (11) | 6.78 | 27.68 | 201.35 | -3.79 | 18.14 | 81.59 | -2.69 | -772.5 | 76.3 | -2.88 | -1352.17 | 54.21 | -0.59 | -1575.0 | 26.25 | -0.49 | -1733.33 | 23.44 | 0.17 | 13.33 | 70.0 | 0.00 | -100.0 | 100.0 | 20.18 | 10.64 | -14.96 | 133.33 | 110.26 | -26.98 | -44.44 | -102.96 | 46.2 | 17.38 | -9.53 | -35.91 |
| 21Q2 (10) | 5.31 | 0.38 | 136.98 | -4.63 | 24.47 | 84.74 | 0.40 | 108.26 | 101.49 | 0.23 | 104.35 | 101.21 | 0.04 | 104.44 | 102.08 | 0.03 | 104.05 | 101.91 | 0.15 | 7.14 | 87.5 | 3.44 | 284.95 | 118.31 | 18.24 | -1.25 | -24.44 | -1300.00 | -1156.25 | -1244.0 | 1500.00 | 6600.0 | 11100.0 | 19.21 | -6.75 | 0 |
| 21Q1 (9) | 5.29 | 413.59 | -43.84 | -6.13 | 44.72 | -364.39 | -4.84 | 19.87 | -497.53 | -5.29 | -3.52 | -828.07 | -0.90 | -21.62 | -718.18 | -0.74 | -25.42 | -722.22 | 0.14 | 16.67 | -12.5 | -1.86 | -113.79 | -159.24 | 18.47 | -22.17 | -4.15 | 123.08 | -33.73 | -7.69 | -23.08 | 73.08 | 65.38 | 20.60 | -14.06 | 13.69 |
| 20Q4 (8) | 1.03 | 115.4 | -81.67 | -11.09 | 46.14 | -169.83 | -6.04 | 46.78 | -33.04 | -5.11 | 18.76 | -46.0 | -0.74 | 7.5 | -1.37 | -0.59 | 7.81 | 3.28 | 0.12 | 20.0 | -29.41 | -0.87 | 82.17 | -2.35 | 23.73 | 0.0 | 12.57 | 185.71 | 1.7 | 112.24 | -85.71 | -3.76 | -785.71 | 23.97 | -11.62 | 0 |
| 20Q3 (7) | -6.69 | 53.41 | -467.58 | -20.59 | 32.14 | -112.49 | -11.35 | 57.59 | -37.08 | -6.29 | 67.0 | -0.32 | -0.80 | 58.33 | 26.61 | -0.64 | 59.24 | 29.67 | 0.10 | 25.0 | -33.33 | -4.88 | 74.03 | -20.49 | 23.73 | -1.7 | 26.97 | 182.61 | 60.7 | 57.42 | -82.61 | -505.8 | -416.3 | 27.12 | 0 | 37.18 |
| 20Q2 (6) | -14.36 | -252.44 | -342.57 | -30.34 | -2198.48 | -1099.21 | -26.76 | -3203.7 | -1162.26 | -19.06 | -3243.86 | -1014.62 | -1.92 | -1645.45 | -481.82 | -1.57 | -1644.44 | -481.48 | 0.08 | -50.0 | -50.0 | -18.79 | -698.41 | -1138.12 | 24.14 | 25.27 | 26.19 | 113.64 | -14.77 | -0.57 | -13.64 | 79.55 | 4.55 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 9.42 | 67.62 | 42.3 | -1.32 | 67.88 | 40.27 | -0.81 | 82.16 | 57.81 | -0.57 | 83.71 | 40.63 | -0.11 | 84.93 | 47.62 | -0.09 | 85.25 | 50.0 | 0.16 | -5.88 | -15.79 | 3.14 | 469.41 | 105.23 | 19.27 | -8.59 | 0.26 | 133.33 | 52.38 | 18.52 | -66.67 | -633.33 | -433.33 | 18.12 | 0 | 27.88 |
| 19Q4 (4) | 5.62 | 208.79 | 0.0 | -4.11 | 57.59 | 0.0 | -4.54 | 45.17 | 0.0 | -3.50 | 44.18 | 0.0 | -0.73 | 33.03 | 0.0 | -0.61 | 32.97 | 0.0 | 0.17 | 13.33 | 0.0 | -0.85 | 79.01 | 0.0 | 21.08 | 12.79 | 0.0 | 87.50 | -24.57 | 0.0 | 12.50 | 178.13 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 1.82 | -69.26 | 0.0 | -9.69 | -283.0 | 0.0 | -8.28 | -290.57 | 0.0 | -6.27 | -266.67 | 0.0 | -1.09 | -230.3 | 0.0 | -0.91 | -237.04 | 0.0 | 0.15 | -6.25 | 0.0 | -4.05 | -323.76 | 0.0 | 18.69 | -2.3 | 0.0 | 116.00 | 1.5 | 0.0 | -16.00 | -12.0 | 0.0 | 19.77 | 9.29 | 0.0 |
| 19Q2 (2) | 5.92 | -10.57 | 0.0 | -2.53 | -14.48 | 0.0 | -2.12 | -10.42 | 0.0 | -1.71 | -78.12 | 0.0 | -0.33 | -57.14 | 0.0 | -0.27 | -50.0 | 0.0 | 0.16 | -15.79 | 0.0 | 1.81 | 18.3 | 0.0 | 19.13 | -0.47 | 0.0 | 114.29 | 1.59 | 0.0 | -14.29 | -14.29 | 0.0 | 18.09 | 27.66 | 0.0 |
| 19Q1 (1) | 6.62 | 0.0 | 0.0 | -2.21 | 0.0 | 0.0 | -1.92 | 0.0 | 0.0 | -0.96 | 0.0 | 0.0 | -0.21 | 0.0 | 0.0 | -0.18 | 0.0 | 0.0 | 0.19 | 0.0 | 0.0 | 1.53 | 0.0 | 0.0 | 19.22 | 0.0 | 0.0 | 112.50 | 0.0 | 0.0 | -12.50 | 0.0 | 0.0 | 14.17 | 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) | 13.44 | 70.56 | -5.48 | 0 | 2.32 | 6.02 | 76.43 | 0 | 72.98 | 9897.26 | 46.61 | 6856.72 | 38.57 | 6666.67 | 0.53 | -27.4 | 78.87 | 4007.81 | 15.25 | -49.97 | -7.20 | 0 | 107.20 | 0 | 0.03 | 0 | 22.15 | 46.11 |
| 2022 (9) | 7.88 | 17.61 | -2.24 | 0 | 2.18 | -17.01 | -0.41 | 0 | 0.73 | 0 | 0.67 | 0 | 0.57 | 0 | 0.73 | 15.87 | 1.92 | 100.0 | 30.48 | 37.86 | 566.67 | 159.72 | -466.67 | 0 | 0.00 | 0 | 15.16 | -12.92 |
| 2021 (8) | 6.70 | 0 | -3.81 | 0 | 2.63 | -51.74 | -1.73 | 0 | -2.01 | 0 | -1.56 | 0 | -1.26 | 0 | 0.63 | 36.96 | 0.96 | 0 | 22.11 | -6.83 | 218.18 | 50.22 | -118.18 | 0 | 0.00 | 0 | 17.41 | -28.21 |
| 2020 (7) | -0.55 | 0 | -13.28 | 0 | 5.45 | 43.76 | -9.14 | 0 | -6.31 | 0 | -3.54 | 0 | -2.87 | 0 | 0.46 | -30.3 | -3.60 | 0 | 23.73 | 12.57 | 145.24 | 33.13 | -45.24 | 0 | 0.00 | 0 | 24.25 | 43.32 |
| 2019 (6) | 5.16 | -0.39 | -4.39 | 0 | 3.79 | 1.06 | -4.02 | 0 | -2.94 | 0 | -2.35 | 0 | -1.94 | 0 | 0.66 | -8.33 | -0.22 | 0 | 21.08 | 0.05 | 109.09 | -18.76 | -9.09 | 0 | 0.00 | 0 | 16.92 | 9.59 |
| 2018 (5) | 5.18 | -16.45 | -3.02 | 0 | 3.75 | -5.58 | -2.26 | 0 | -1.54 | 0 | -1.33 | 0 | -1.11 | 0 | 0.72 | 1.41 | 1.53 | -65.31 | 21.07 | 11.96 | 134.29 | 0 | -34.29 | 0 | 0.00 | 0 | 15.44 | 6.7 |
| 2017 (4) | 6.20 | -49.22 | -1.54 | 0 | 3.98 | 33.33 | 0.45 | -89.77 | 0.77 | -79.47 | 0.66 | -79.82 | 0.55 | -79.78 | 0.71 | -2.74 | 4.41 | -40.32 | 18.82 | -8.42 | -357.14 | 0 | 457.14 | 2502.2 | 0.00 | 0 | 14.47 | 3.73 |
| 2016 (3) | 12.21 | -1.21 | 3.61 | -21.35 | 2.98 | 5.61 | 4.40 | -21.29 | 3.75 | -23.0 | 3.27 | -30.43 | 2.72 | -30.79 | 0.73 | -9.88 | 7.39 | -12.13 | 20.55 | 4.42 | 81.08 | -0.58 | 17.57 | 0.53 | 0.00 | 0 | 13.95 | 9.67 |
| 2015 (2) | 12.36 | 74.58 | 4.59 | 836.73 | 2.82 | -0.2 | 5.59 | 256.05 | 4.87 | 220.39 | 4.70 | 207.19 | 3.93 | 209.45 | 0.81 | -2.41 | 8.41 | 91.14 | 19.68 | 1.76 | 81.55 | 171.84 | 17.48 | -75.03 | 0.00 | 0 | 12.72 | 12.67 |
| 2014 (1) | 7.08 | 0 | 0.49 | 0 | 2.83 | 5.42 | 1.57 | 0 | 1.52 | 0 | 1.53 | 0 | 1.27 | 0 | 0.83 | -7.78 | 4.40 | -25.3 | 19.34 | -8.86 | 30.00 | -55.33 | 70.00 | 113.18 | 0.00 | 0 | 11.29 | 3.11 |
