- 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) | 32.78 | -21.07 | -2.44 | 7.44 | -61.19 | 7.67 | 10.95 | -39.87 | 28.22 | 5.88 | -58.88 | 24.05 | 0.65 | -65.05 | 16.07 | 0.07 | -61.11 | 16.67 | 0.01 | 0.0 | 0.0 | 16.72 | -25.79 | 28.02 | 1035.03 | 1.34 | 1.99 | 67.90 | -35.49 | -16.01 | 32.10 | 710.26 | 67.51 | 50.04 | 424.09 | 193.15 |
| 23Q3 (19) | 41.53 | 9.2 | 15.23 | 19.17 | 29.7 | 85.76 | 18.21 | 31.67 | 59.46 | 14.30 | 34.52 | 75.89 | 1.86 | 38.81 | 87.88 | 0.18 | 38.46 | 100.0 | 0.01 | 0.0 | 0.0 | 22.53 | 27.36 | 43.23 | 1021.36 | 1.59 | -3.21 | 105.26 | -1.5 | 16.51 | -5.26 | 23.35 | -155.04 | -15.44 | -198.85 | -193.41 |
| 23Q2 (18) | 38.03 | 7.22 | -14.5 | 14.78 | 39.3 | -20.32 | 13.83 | 32.47 | -10.02 | 10.63 | 47.84 | 0.0 | 1.34 | 54.02 | 9.84 | 0.13 | 44.44 | 8.33 | 0.01 | 0.0 | 0.0 | 17.69 | 15.17 | -9.97 | 1005.35 | 0.84 | -2.32 | 106.86 | 5.21 | -11.48 | -6.86 | -335.56 | 66.88 | 15.62 | -4.35 | -9.97 |
| 23Q1 (17) | 35.47 | 5.57 | -6.19 | 10.61 | 53.55 | -10.31 | 10.44 | 22.25 | -25.75 | 7.19 | 51.69 | -29.58 | 0.87 | 55.36 | -20.91 | 0.09 | 50.0 | -18.18 | 0.01 | 0.0 | 0.0 | 15.36 | 17.61 | -18.08 | 996.98 | -1.76 | -1.8 | 101.58 | 25.66 | 20.7 | -1.58 | -108.22 | -109.94 | 16.33 | -4.34 | -7.22 |
| 22Q4 (16) | 33.60 | -6.77 | -2.24 | 6.91 | -33.04 | -33.56 | 8.54 | -25.22 | -35.2 | 4.74 | -41.7 | -56.15 | 0.56 | -43.43 | -58.82 | 0.06 | -33.33 | -53.85 | 0.01 | 0.0 | 0.0 | 13.06 | -16.97 | -24.07 | 1014.82 | -3.83 | -0.13 | 80.84 | -10.52 | 2.33 | 19.16 | 100.51 | -8.78 | 17.07 | 3.27 | 14.87 |
| 22Q3 (15) | 36.04 | -18.97 | -15.04 | 10.32 | -44.37 | -30.51 | 11.42 | -25.7 | -31.98 | 8.13 | -23.52 | -40.61 | 0.99 | -18.85 | -38.51 | 0.09 | -25.0 | -40.0 | 0.01 | 0.0 | 0.0 | 15.73 | -19.95 | -26.91 | 1055.22 | 2.53 | 2.88 | 90.34 | -25.17 | 2.14 | 9.56 | 146.12 | -17.27 | 16.53 | -4.73 | -4.78 |
| 22Q2 (14) | 44.48 | 17.64 | 19.12 | 18.55 | 56.8 | 58.82 | 15.37 | 9.32 | 27.66 | 10.63 | 4.11 | 7.59 | 1.22 | 10.91 | 9.91 | 0.12 | 9.09 | 20.0 | 0.01 | 0.0 | 0.0 | 19.65 | 4.8 | 15.18 | 1029.22 | 1.38 | -0.65 | 120.72 | 43.46 | 24.48 | -20.72 | -230.76 | -786.05 | 17.35 | -1.42 | -0.52 |
| 22Q1 (13) | 37.81 | 10.01 | -10.04 | 11.83 | 13.75 | -27.38 | 14.06 | 6.68 | -11.85 | 10.21 | -5.55 | -23.92 | 1.10 | -19.12 | -27.63 | 0.11 | -15.38 | -21.43 | 0.01 | 0.0 | 0.0 | 18.75 | 9.01 | -11.43 | 1015.24 | -0.09 | -2.73 | 84.15 | 6.53 | -17.61 | 15.85 | -24.57 | 840.54 | 17.60 | 18.44 | 1.15 |
| 21Q4 (12) | 34.37 | -18.98 | -20.42 | 10.40 | -29.97 | -2.26 | 13.18 | -21.5 | 572.45 | 10.81 | -21.04 | 951.18 | 1.36 | -15.53 | 1146.15 | 0.13 | -13.33 | 0 | 0.01 | 0.0 | 0.0 | 17.20 | -20.07 | 107.23 | 1016.16 | -0.93 | -3.15 | 78.99 | -10.69 | -85.41 | 21.01 | 81.84 | 104.75 | 14.86 | -14.4 | -27.01 |
| 21Q3 (11) | 42.42 | 13.6 | 13.21 | 14.85 | 27.14 | 71.68 | 16.79 | 39.45 | -68.37 | 13.69 | 38.56 | -72.02 | 1.61 | 45.05 | -70.4 | 0.15 | 50.0 | -68.09 | 0.01 | 0.0 | 0.0 | 21.52 | 26.14 | -63.49 | 1025.73 | -0.99 | -2.59 | 88.45 | -8.8 | 442.59 | 11.55 | 282.47 | -86.2 | 17.36 | -0.46 | -6.47 |
| 21Q2 (10) | 37.34 | -11.16 | -49.3 | 11.68 | -28.3 | -72.86 | 12.04 | -24.51 | 16.33 | 9.88 | -26.38 | 20.78 | 1.11 | -26.97 | 30.59 | 0.10 | -28.57 | -66.67 | 0.01 | 0.0 | 0.0 | 17.06 | -19.41 | -65.37 | 1035.94 | -0.75 | -7.5 | 96.98 | -5.05 | -76.67 | 3.02 | 241.15 | 100.96 | 17.44 | 0.23 | 0 |
| 21Q1 (9) | 42.03 | -2.69 | -7.83 | 16.29 | 53.1 | -23.52 | 15.95 | 713.78 | 166.72 | 13.42 | 1156.69 | 370.88 | 1.52 | 1269.23 | 334.29 | 0.14 | 0 | -17.65 | 0.01 | 0.0 | 0.0 | 21.17 | 155.06 | -20.14 | 1043.77 | -0.52 | -4.01 | 102.14 | -81.13 | -71.29 | -2.14 | 99.52 | 99.16 | 17.40 | -14.54 | 0 |
| 20Q4 (8) | 43.19 | 15.27 | 17.68 | 10.64 | 23.01 | -28.54 | 1.96 | -96.31 | -83.33 | -1.27 | -102.6 | -115.07 | -0.13 | -102.39 | -110.92 | 0.00 | -100.0 | -100.0 | 0.01 | 0.0 | 0.0 | 8.30 | -85.92 | -51.43 | 1049.23 | -0.36 | -2.37 | 541.41 | 3221.28 | 327.65 | -442.19 | -628.31 | -1562.36 | 20.36 | 9.7 | 35.55 |
| 20Q3 (7) | 37.47 | -49.12 | 25.65 | 8.65 | -79.9 | 60.48 | 53.09 | 412.95 | 504.67 | 48.92 | 498.04 | 506.2 | 5.44 | 540.0 | 381.42 | 0.47 | 56.67 | 422.22 | 0.01 | 0.0 | 0.0 | 58.94 | 19.65 | 371.14 | 1053.04 | -5.97 | -3.28 | 16.30 | -96.08 | -73.48 | 83.70 | 126.51 | 116.49 | 18.56 | 0 | -38.09 |
| 20Q2 (6) | 73.65 | 61.51 | 146.24 | 43.04 | 102.07 | 384.68 | 10.35 | 73.08 | 37.27 | 8.18 | 187.02 | 37.94 | 0.85 | 142.86 | -3.41 | 0.30 | 76.47 | 172.73 | 0.01 | 0.0 | 0.0 | 49.26 | 85.82 | 236.25 | 1119.93 | 2.99 | 1.9 | 415.67 | 16.83 | 253.19 | -315.67 | -23.31 | -1684.33 | 0.00 | 0 | 100.0 |
| 20Q1 (5) | 45.60 | 24.25 | 54.73 | 21.30 | 43.05 | 180.26 | 5.98 | -49.15 | -19.95 | 2.85 | -66.19 | -58.99 | 0.35 | -70.59 | -69.03 | 0.17 | 54.55 | 54.55 | 0.01 | 0.0 | 0.0 | 26.51 | 55.12 | 120.92 | 1087.39 | 1.18 | -2.18 | 355.78 | 181.03 | 249.43 | -256.00 | -862.41 | -15174.67 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 36.70 | 23.07 | 0.0 | 14.89 | 176.25 | 0.0 | 11.76 | 33.94 | 0.0 | 8.43 | 4.46 | 0.0 | 1.19 | 5.31 | 0.0 | 0.11 | 22.22 | 0.0 | 0.01 | 0.0 | 0.0 | 17.09 | 36.61 | 0.0 | 1074.71 | -1.29 | 0.0 | 126.60 | 105.94 | 0.0 | -26.60 | -168.8 | 0.0 | 15.02 | -49.9 | 0.0 |
| 19Q3 (3) | 29.82 | -0.3 | 0.0 | 5.39 | -39.3 | 0.0 | 8.78 | 16.45 | 0.0 | 8.07 | 36.09 | 0.0 | 1.13 | 28.41 | 0.0 | 0.09 | -18.18 | 0.0 | 0.01 | 0.0 | 0.0 | 12.51 | -14.61 | 0.0 | 1088.77 | -0.94 | 0.0 | 61.48 | -47.77 | 0.0 | 38.66 | 318.53 | 0.0 | 29.98 | 2196.5 | 0.0 |
| 19Q2 (2) | 29.91 | 1.49 | 0.0 | 8.88 | 16.84 | 0.0 | 7.54 | 0.94 | 0.0 | 5.93 | -14.68 | 0.0 | 0.88 | -22.12 | 0.0 | 0.11 | 0.0 | 0.0 | 0.01 | 0.0 | 0.0 | 14.65 | 22.08 | 0.0 | 1099.06 | -1.13 | 0.0 | 117.69 | 15.59 | 0.0 | -17.69 | -955.57 | 0.0 | -1.43 | -110.6 | 0.0 |
| 19Q1 (1) | 29.47 | 0.0 | 0.0 | 7.60 | 0.0 | 0.0 | 7.47 | 0.0 | 0.0 | 6.95 | 0.0 | 0.0 | 1.13 | 0.0 | 0.0 | 0.11 | 0.0 | 0.0 | 0.01 | 0.0 | 0.0 | 12.00 | 0.0 | 0.0 | 1111.64 | 0.0 | 0.0 | 101.82 | 0.0 | 0.0 | -1.68 | 0.0 | 0.0 | 13.49 | 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) | 37.13 | -2.06 | 13.24 | 11.92 | 3.04 | -6.79 | 13.51 | 10.11 | 9.68 | 15.93 | 4.68 | 22.83 | 0.46 | 24.32 | 0.04 | 0.0 | 18.20 | 8.92 | 1035.03 | 1.99 | 98.00 | 1.64 | 2.00 | -44.12 | 0.03 | -2.86 | 15.42 | -9.93 |
| 2022 (9) | 37.91 | -2.54 | 11.83 | -10.45 | 3.26 | -10.87 | 12.27 | -15.2 | 8.35 | -29.95 | 3.81 | -31.6 | 0.37 | -28.85 | 0.04 | 0.0 | 16.71 | -12.92 | 1014.82 | -0.13 | 96.42 | 5.57 | 3.58 | -58.71 | 0.03 | 0.77 | 17.12 | 2.51 |
| 2021 (8) | 38.90 | 2.34 | 13.21 | 44.69 | 3.66 | -20.45 | 14.47 | -19.79 | 11.92 | -19.68 | 5.57 | -12.7 | 0.52 | -11.86 | 0.04 | 0.0 | 19.19 | -20.9 | 1016.16 | -3.15 | 91.33 | 80.42 | 8.67 | -82.44 | 0.03 | -1.65 | 16.70 | -9.83 |
| 2020 (7) | 38.01 | 21.01 | 9.13 | -0.22 | 4.60 | 31.12 | 18.04 | 104.3 | 14.84 | 103.01 | 6.38 | 47.0 | 0.59 | 40.48 | 0.04 | -20.0 | 24.26 | 73.16 | 1049.23 | -2.37 | 50.62 | -51.17 | 49.38 | 0 | 0.03 | 26.1 | 18.52 | 32.1 |
| 2019 (6) | 31.41 | -0.98 | 9.15 | -24.19 | 3.51 | 68.82 | 8.83 | -29.81 | 7.31 | -32.19 | 4.34 | -45.06 | 0.42 | -37.31 | 0.05 | -16.67 | 14.01 | -10.99 | 1074.71 | -5.47 | 103.66 | 8.0 | -3.66 | 0 | 0.03 | -4.01 | 14.02 | 19.32 |
| 2018 (5) | 31.72 | -0.53 | 12.07 | 1.51 | 2.08 | -16.65 | 12.58 | 9.01 | 10.78 | 13.47 | 7.90 | 18.98 | 0.67 | 21.82 | 0.06 | 20.0 | 15.74 | 5.07 | 1136.95 | -4.89 | 95.98 | -6.84 | 4.02 | 0 | 0.03 | 0 | 11.75 | -2.57 |
| 2017 (4) | 31.89 | -1.12 | 11.89 | 16.23 | 2.49 | -7.05 | 11.54 | 24.89 | 9.50 | 26.5 | 6.64 | 37.19 | 0.55 | 17.02 | 0.05 | 0.0 | 14.98 | 6.62 | 1195.39 | 0.75 | 103.02 | -6.97 | -3.02 | 0 | 0.00 | 0 | 12.06 | -9.12 |
| 2016 (3) | 32.25 | 3.83 | 10.23 | -13.96 | 2.68 | 5.15 | 9.24 | -23.06 | 7.51 | -21.53 | 4.84 | -26.22 | 0.47 | -25.4 | 0.05 | -16.67 | 14.05 | -15.05 | 1186.52 | 8.01 | 110.74 | 11.83 | -10.78 | 0 | 0.00 | 0 | 13.27 | 11.51 |
| 2015 (2) | 31.06 | 25.95 | 11.89 | 51.27 | 2.55 | -2.52 | 12.01 | -10.84 | 9.57 | -19.71 | 6.56 | -28.85 | 0.63 | -25.88 | 0.06 | 0.0 | 16.54 | -8.21 | 1098.55 | 1.26 | 99.03 | 69.86 | 1.00 | -97.61 | 0.00 | 0 | 11.90 | 13.44 |
| 2014 (1) | 24.66 | 0 | 7.86 | 0 | 2.62 | 18.95 | 13.47 | 0 | 11.92 | 0 | 9.22 | 0 | 0.85 | 0 | 0.06 | 0.0 | 18.02 | 15.51 | 1084.84 | -5.72 | 58.30 | -25.37 | 41.70 | 90.84 | 0.00 | 0 | 10.49 | 1.25 |
