- 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) | 17.59 | 18.21 | -10.07 | -0.61 | 85.41 | 83.99 | -2.85 | -47.67 | 61.54 | -2.66 | -42.25 | 59.7 | -0.49 | -40.0 | 57.39 | -0.25 | -66.67 | 67.95 | 0.13 | 0.0 | 0.0 | 1.45 | -35.56 | 141.67 | 38.24 | -7.52 | -0.42 | 22.22 | -89.74 | -56.52 | 77.78 | 166.67 | 59.09 | 13.37 | 3.08 | -6.24 |
| 23Q3 (19) | 14.88 | -3.12 | -30.76 | -4.18 | -101.93 | -295.33 | -1.93 | -278.43 | -139.79 | -1.87 | -367.5 | -150.95 | -0.35 | -400.0 | -145.45 | -0.15 | -287.5 | -124.19 | 0.13 | 0.0 | -13.33 | 2.25 | -44.58 | -72.43 | 41.35 | -0.55 | 14.29 | 216.67 | -45.83 | 405.56 | -116.67 | 61.11 | -304.17 | 12.97 | 2.94 | 5.79 |
| 23Q2 (18) | 15.36 | 0.26 | -29.54 | -2.07 | 65.33 | -262.99 | -0.51 | 90.62 | -108.04 | -0.40 | 91.7 | -106.94 | -0.07 | 90.54 | -106.36 | 0.08 | 118.18 | -90.7 | 0.13 | 18.18 | -7.14 | 4.06 | 1168.42 | -58.4 | 41.58 | 9.65 | 16.63 | 400.00 | 261.29 | 2000.0 | -300.00 | -2700.0 | -481.82 | 12.60 | -18.39 | -1.02 |
| 23Q1 (17) | 15.32 | -21.68 | -16.96 | -5.97 | -56.69 | -212.57 | -5.44 | 26.59 | -666.67 | -4.82 | 26.97 | -491.87 | -0.74 | 35.65 | -436.36 | -0.44 | 43.59 | -300.0 | 0.11 | -15.38 | -21.43 | -0.38 | 89.08 | -107.72 | 37.92 | -1.25 | 28.8 | 110.71 | 116.61 | 155.36 | -10.71 | -121.92 | -103.57 | 15.44 | 8.27 | 26.77 |
| 22Q4 (16) | 19.56 | -8.98 | 14.19 | -3.81 | -278.04 | 20.29 | -7.41 | -252.78 | -418.03 | -6.60 | -279.84 | -405.56 | -1.15 | -249.35 | -402.63 | -0.78 | -225.81 | -343.75 | 0.13 | -13.33 | -7.14 | -3.48 | -142.65 | -155.86 | 38.40 | 6.14 | 29.03 | 51.11 | 19.26 | 125.56 | 48.89 | -14.44 | -83.7 | 14.26 | 16.31 | -0.28 |
| 22Q3 (15) | 21.49 | -1.42 | -0.83 | 2.14 | 68.5 | 548.48 | 4.85 | -23.5 | 521.79 | 3.67 | -36.28 | 634.0 | 0.77 | -30.0 | 862.5 | 0.62 | -27.91 | 520.0 | 0.15 | 7.14 | 15.38 | 8.16 | -16.39 | 60.95 | 36.18 | 1.49 | 24.33 | 42.86 | 125.0 | -14.29 | 57.14 | -27.27 | -23.81 | 12.26 | -3.69 | -12.43 |
| 22Q2 (14) | 21.80 | 18.16 | 3.51 | 1.27 | 166.49 | 337.93 | 6.34 | 560.42 | 768.49 | 5.76 | 368.29 | 829.03 | 1.10 | 400.0 | 1000.0 | 0.86 | 290.91 | 760.0 | 0.14 | 0.0 | 16.67 | 9.76 | 98.37 | 117.37 | 35.65 | 21.09 | 35.09 | 19.05 | 109.52 | -61.9 | 78.57 | -73.81 | 57.14 | 12.73 | 4.52 | 5.56 |
| 22Q1 (13) | 18.45 | 7.71 | -12.1 | -1.91 | 60.04 | -187.61 | 0.96 | -58.8 | -64.04 | 1.23 | -43.06 | -38.81 | 0.22 | -42.11 | -26.67 | 0.22 | -31.25 | -29.03 | 0.14 | 0.0 | 16.67 | 4.92 | -21.03 | -31.09 | 29.44 | -1.08 | 13.36 | -200.00 | 0.0 | -354.55 | 300.00 | 0.0 | 1300.0 | 12.18 | -14.83 | -25.78 |
| 21Q4 (12) | 17.13 | -20.95 | -3.49 | -4.78 | -1548.48 | -9.89 | 2.33 | 198.72 | 182.33 | 2.16 | 332.0 | 131.58 | 0.38 | 375.0 | 136.89 | 0.32 | 220.0 | 139.51 | 0.14 | 7.69 | 16.67 | 6.23 | 22.88 | 548.96 | 29.76 | 2.27 | 24.88 | -200.00 | -500.0 | -230.43 | 300.00 | 300.0 | 662.5 | 14.30 | 2.14 | 21.29 |
| 21Q3 (11) | 21.67 | 2.9 | 10.0 | 0.33 | 13.79 | 144.0 | 0.78 | 6.85 | 95.0 | 0.50 | -19.35 | -57.98 | 0.08 | -20.0 | -55.56 | 0.10 | 0.0 | -44.44 | 0.13 | 8.33 | 8.33 | 5.07 | 12.92 | 4.97 | 29.10 | 10.27 | 16.26 | 50.00 | 0.0 | 125.0 | 75.00 | 50.0 | -75.0 | 14.00 | 16.09 | -3.45 |
| 21Q2 (10) | 21.06 | 0.33 | 23.96 | 0.29 | -86.7 | 102.82 | 0.73 | -72.66 | 106.36 | 0.62 | -69.15 | 107.82 | 0.10 | -66.67 | 112.99 | 0.10 | -67.74 | 116.67 | 0.12 | 0.0 | 50.0 | 4.49 | -37.11 | 190.34 | 26.39 | 1.62 | 4.64 | 50.00 | -36.36 | -44.29 | 50.00 | 133.33 | 387.5 | 12.06 | -26.51 | 0 |
| 21Q1 (9) | 20.99 | 18.25 | 25.84 | 2.18 | 150.11 | 125.17 | 2.67 | 194.35 | 130.55 | 2.01 | 129.39 | 124.36 | 0.30 | 129.13 | 127.52 | 0.31 | 138.27 | 139.74 | 0.12 | 0.0 | 20.0 | 7.14 | 643.75 | 343.69 | 25.97 | 8.98 | -4.49 | 78.57 | -48.76 | -19.51 | 21.43 | 140.18 | 0 | 16.41 | 39.19 | -0.91 |
| 20Q4 (8) | 17.75 | -9.9 | -5.64 | -4.35 | -480.0 | 17.61 | -2.83 | -807.5 | 58.87 | -6.84 | -674.79 | -23.91 | -1.03 | -672.22 | -21.18 | -0.81 | -550.0 | -28.57 | 0.12 | 0.0 | 0.0 | 0.96 | -80.12 | 148.98 | 23.83 | -4.79 | -9.7 | 153.33 | 176.67 | 99.33 | -53.33 | -117.78 | -331.11 | 11.79 | -18.69 | 0 |
| 20Q3 (7) | 19.70 | 15.95 | 17.89 | -0.75 | 92.72 | 72.53 | 0.40 | 103.48 | 119.23 | 1.19 | 115.01 | 187.5 | 0.18 | 123.38 | 181.82 | 0.18 | 130.0 | 280.0 | 0.12 | 50.0 | -7.69 | 4.83 | 197.18 | 81.58 | 25.03 | -0.75 | -10.32 | -200.00 | -322.86 | -262.5 | 300.00 | 2825.0 | 1075.0 | 14.50 | 0 | 0.0 |
| 20Q2 (6) | 16.99 | 1.86 | -3.14 | -10.30 | -18.94 | -880.95 | -11.48 | -31.35 | -1922.22 | -7.93 | 3.88 | -820.91 | -0.77 | 29.36 | -527.78 | -0.60 | 23.08 | -433.33 | 0.08 | -20.0 | -38.46 | -4.97 | -69.62 | -199.8 | 25.22 | -7.25 | -6.9 | 89.74 | -8.07 | 151.28 | 10.26 | 0 | -95.9 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 16.68 | -11.32 | 11.05 | -8.66 | -64.02 | 9.89 | -8.74 | -27.03 | 0.46 | -8.25 | -49.46 | 12.7 | -1.09 | -28.24 | 11.38 | -0.78 | -23.81 | 12.36 | 0.10 | -16.67 | 0.0 | -2.93 | -49.49 | -3.17 | 27.19 | 3.03 | 7.39 | 97.62 | 26.9 | -10.69 | 0.00 | -100.0 | 100.0 | 16.56 | 0 | -6.44 |
| 19Q4 (4) | 18.81 | 12.57 | 0.0 | -5.28 | -93.41 | 0.0 | -6.88 | -230.77 | 0.0 | -5.52 | -305.88 | 0.0 | -0.85 | -286.36 | 0.0 | -0.63 | -530.0 | 0.0 | 0.12 | -7.69 | 0.0 | -1.96 | -173.68 | 0.0 | 26.39 | -5.45 | 0.0 | 76.92 | -37.5 | 0.0 | 23.08 | 175.0 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 16.71 | -4.73 | 0.0 | -2.73 | -160.0 | 0.0 | -2.08 | -430.16 | 0.0 | -1.36 | -223.64 | 0.0 | -0.22 | -222.22 | 0.0 | -0.10 | -155.56 | 0.0 | 0.13 | 0.0 | 0.0 | 2.66 | -46.59 | 0.0 | 27.91 | 3.03 | 0.0 | 123.08 | 170.33 | 0.0 | -30.77 | -112.31 | 0.0 | 14.50 | -2.36 | 0.0 |
| 19Q2 (2) | 17.54 | 16.78 | 0.0 | -1.05 | 89.07 | 0.0 | 0.63 | 107.18 | 0.0 | 1.10 | 111.64 | 0.0 | 0.18 | 114.63 | 0.0 | 0.18 | 120.22 | 0.0 | 0.13 | 30.0 | 0.0 | 4.98 | 275.35 | 0.0 | 27.09 | 6.99 | 0.0 | -175.00 | -260.11 | 0.0 | 250.00 | 2787.5 | 0.0 | 14.85 | -16.1 | 0.0 |
| 19Q1 (1) | 15.02 | 0.0 | 0.0 | -9.61 | 0.0 | 0.0 | -8.78 | 0.0 | 0.0 | -9.45 | 0.0 | 0.0 | -1.23 | 0.0 | 0.0 | -0.89 | 0.0 | 0.0 | 0.10 | 0.0 | 0.0 | -2.84 | 0.0 | 0.0 | 25.32 | 0.0 | 0.0 | 109.30 | 0.0 | 0.0 | -9.30 | 0.0 | 0.0 | 17.70 | 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) | 15.82 | -22.45 | -3.11 | 0 | 3.44 | 7.32 | -2.59 | 0 | -2.36 | 0 | -1.65 | 0 | -0.77 | 0 | 0.50 | -12.28 | 1.91 | -62.48 | 38.24 | -0.42 | 119.67 | 0 | -19.67 | 0 | 0.37 | 2.76 | 13.53 | 5.46 |
| 2022 (9) | 20.40 | 1.29 | -0.42 | 0 | 3.20 | -15.16 | 1.46 | -10.43 | 1.23 | -7.52 | 0.94 | 9.3 | 0.90 | 8.43 | 0.57 | 11.76 | 5.09 | -11.94 | 38.40 | 29.03 | -28.95 | 0 | 128.95 | -7.16 | 0.36 | -7.37 | 12.83 | -9.52 |
| 2021 (8) | 20.14 | 12.64 | -0.63 | 0 | 3.77 | -15.37 | 1.63 | 0 | 1.33 | 0 | 0.86 | 0 | 0.83 | 0 | 0.51 | 21.43 | 5.78 | 0 | 29.76 | 24.88 | -38.89 | 0 | 138.89 | 0 | 0.39 | -2.01 | 14.18 | -9.91 |
| 2020 (7) | 17.88 | 4.62 | -5.55 | 0 | 4.46 | 2.58 | -5.04 | 0 | -5.17 | 0 | -2.71 | 0 | -2.01 | 0 | 0.42 | -12.5 | -0.11 | 0 | 23.83 | -9.7 | 109.57 | -1.38 | -9.57 | 0 | 0.40 | 6.73 | 15.74 | 2.47 |
| 2019 (6) | 17.09 | -11.13 | -4.39 | 0 | 4.35 | 14.57 | -3.97 | 0 | -3.46 | 0 | -2.12 | 0 | -1.46 | 0 | 0.48 | -4.0 | 0.97 | -75.26 | 26.39 | -1.12 | 111.11 | -51.69 | -10.00 | 0 | 0.37 | 5.04 | 15.36 | 7.71 |
| 2018 (5) | 19.23 | -7.19 | -0.94 | 0 | 3.79 | -2.34 | -0.41 | 0 | -0.77 | 0 | -0.49 | 0 | -0.18 | 0 | 0.50 | 6.38 | 3.92 | -39.22 | 26.69 | -9.74 | 230.00 | 0 | -130.00 | 0 | 0.35 | -0.32 | 14.26 | 7.87 |
| 2017 (4) | 20.72 | -12.57 | -3.88 | 0 | 3.89 | -7.65 | 1.95 | -47.15 | 0.69 | -76.69 | 0.42 | -76.27 | 0.56 | -63.4 | 0.47 | 0.0 | 6.45 | -21.91 | 29.57 | 8.04 | -200.00 | 0 | 300.00 | 984.62 | 0.35 | 0 | 13.22 | -3.85 |
| 2016 (3) | 23.70 | 11.48 | 2.67 | 22.48 | 4.21 | 2.62 | 3.69 | 39.77 | 2.96 | 86.16 | 1.77 | 77.0 | 1.53 | 64.52 | 0.47 | -2.08 | 8.26 | 15.69 | 27.37 | -7.66 | 72.34 | -12.49 | 27.66 | 59.57 | 0.00 | 0 | 13.75 | 5.77 |
| 2015 (2) | 21.26 | -2.74 | 2.18 | -60.79 | 4.10 | 7.91 | 2.64 | -57.49 | 1.59 | -67.42 | 1.00 | -74.55 | 0.93 | -70.0 | 0.48 | -20.0 | 7.14 | -31.15 | 29.64 | -5.67 | 82.67 | -7.78 | 17.33 | 67.3 | 0.00 | 0 | 13.00 | 26.83 |
| 2014 (1) | 21.86 | 0 | 5.56 | 0 | 3.80 | 10.93 | 6.21 | 0 | 4.88 | 0 | 3.93 | 0 | 3.10 | 0 | 0.60 | 1.69 | 10.37 | 8.13 | 31.42 | -15.33 | 89.64 | -12.52 | 10.36 | 0 | 0.00 | 0 | 10.25 | -22.11 |
