- 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) | 5.71 | 9.6 | 9.81 | 1.99 | 25.95 | 55.47 | 1.54 | -11.49 | 46.67 | 1.51 | 11.03 | 48.04 | 3.22 | 1.58 | 37.61 | 1.15 | -0.86 | 11.65 | 0.52 | -7.14 | -3.7 | 3.15 | -5.12 | 14.13 | 297.80 | -7.84 | -0.16 | 129.18 | 42.27 | 6.66 | -29.18 | -417.09 | -38.21 | 4.57 | 8.81 | 19.32 |
| 23Q3 (19) | 5.21 | 13.02 | 1.17 | 1.58 | 39.82 | 0.64 | 1.74 | 28.89 | 8.07 | 1.36 | 29.52 | 11.48 | 3.17 | 27.82 | 3.59 | 1.16 | 18.37 | 33.33 | 0.56 | 0.0 | 7.69 | 3.32 | 16.9 | 22.96 | 323.14 | 3.31 | -10.62 | 90.80 | 8.06 | -7.05 | 9.20 | -42.4 | 298.13 | 4.20 | 6.87 | 2.44 |
| 23Q2 (18) | 4.61 | -6.49 | 5.73 | 1.13 | 5.61 | -2.59 | 1.35 | 43.62 | 18.42 | 1.05 | 45.83 | -4.55 | 2.48 | 62.09 | -8.82 | 0.98 | 28.95 | 44.12 | 0.56 | 7.69 | 12.0 | 2.84 | 10.94 | 44.16 | 312.80 | -2.44 | -21.83 | 84.03 | -25.91 | -17.36 | 15.97 | 219.08 | 1053.58 | 3.93 | -9.66 | 4.24 |
| 23Q1 (17) | 4.93 | -5.19 | 10.79 | 1.07 | -16.41 | 21.59 | 0.94 | -10.48 | -36.49 | 0.72 | -29.41 | -36.28 | 1.53 | -34.62 | -42.05 | 0.76 | -26.21 | 15.15 | 0.52 | -3.7 | 4.0 | 2.56 | -7.25 | 14.29 | 320.63 | 7.49 | -18.35 | 113.42 | -6.35 | 91.8 | -13.42 | 36.45 | -132.83 | 4.35 | 13.58 | 3.57 |
| 22Q4 (16) | 5.20 | 0.97 | 25.91 | 1.28 | -18.47 | 56.1 | 1.05 | -34.78 | 0.0 | 1.02 | -16.39 | 29.11 | 2.34 | -23.53 | 10.9 | 1.03 | 18.39 | 90.74 | 0.54 | 3.85 | -8.47 | 2.76 | 2.22 | 61.4 | 298.28 | -17.5 | -12.02 | 121.11 | 23.98 | 55.6 | -21.11 | -1013.39 | -195.25 | 3.83 | -6.59 | 3.23 |
| 22Q3 (15) | 5.15 | 18.12 | 26.54 | 1.57 | 35.34 | 50.96 | 1.61 | 41.23 | -33.74 | 1.22 | 10.91 | -34.05 | 3.06 | 12.5 | -39.04 | 0.87 | 27.94 | -25.64 | 0.52 | 4.0 | -13.33 | 2.70 | 37.06 | -13.74 | 361.54 | -9.65 | -2.75 | 97.69 | -3.92 | 129.13 | 2.31 | 237.97 | -95.97 | 4.10 | 8.75 | 12.33 |
| 22Q2 (14) | 4.36 | -2.02 | -2.68 | 1.16 | 31.82 | 28.89 | 1.14 | -22.97 | 7.55 | 1.10 | -2.65 | 25.0 | 2.72 | 3.03 | 40.93 | 0.68 | 3.03 | 33.33 | 0.50 | 0.0 | -3.85 | 1.97 | -12.05 | 2.07 | 400.17 | 1.91 | 20.05 | 101.68 | 71.95 | 19.64 | -1.68 | -104.1 | -111.16 | 3.77 | -10.24 | -12.53 |
| 22Q1 (13) | 4.45 | 7.75 | -2.84 | 0.88 | 7.32 | 0.0 | 1.48 | 40.95 | 17.46 | 1.13 | 43.04 | 17.71 | 2.64 | 25.12 | 35.38 | 0.66 | 22.22 | 17.86 | 0.50 | -15.25 | -3.85 | 2.24 | 30.99 | 4.19 | 392.68 | 15.82 | 24.55 | 59.13 | -24.03 | -15.31 | 40.87 | 84.38 | 35.43 | 4.20 | 13.21 | -3.45 |
| 21Q4 (12) | 4.13 | 1.47 | 2.99 | 0.82 | -21.15 | 64.0 | 1.05 | -56.79 | 61.54 | 0.79 | -57.3 | 163.33 | 2.11 | -57.97 | 224.62 | 0.54 | -53.85 | 125.0 | 0.59 | -1.67 | 5.36 | 1.71 | -45.37 | 6.21 | 339.05 | -8.8 | 25.6 | 77.84 | 82.56 | 0.85 | 22.16 | -61.36 | -2.88 | 3.71 | 1.64 | -8.62 |
| 21Q3 (11) | 4.07 | -9.15 | 1.24 | 1.04 | 15.56 | -0.95 | 2.43 | 129.25 | 53.8 | 1.85 | 110.23 | 54.17 | 5.02 | 160.1 | 64.05 | 1.17 | 129.41 | 42.68 | 0.60 | 15.38 | -1.64 | 3.13 | 62.18 | 30.42 | 371.78 | 11.54 | 24.16 | 42.63 | -49.83 | -36.03 | 57.37 | 282.02 | 72.02 | 3.65 | -15.31 | 5.8 |
| 21Q2 (10) | 4.48 | -2.18 | 10.34 | 0.90 | 2.27 | -33.82 | 1.06 | -15.87 | -23.74 | 0.88 | -8.33 | -13.73 | 1.93 | -1.03 | -29.82 | 0.51 | -8.93 | -37.04 | 0.52 | 0.0 | -22.39 | 1.93 | -10.23 | -14.22 | 333.33 | 5.73 | -1.48 | 84.98 | 21.71 | -13.26 | 15.02 | -50.24 | 640.81 | 4.31 | -0.92 | 0 |
| 21Q1 (9) | 4.58 | 14.21 | -3.17 | 0.88 | 76.0 | 203.45 | 1.26 | 93.85 | -78.35 | 0.96 | 220.0 | -71.0 | 1.95 | 200.0 | -63.0 | 0.56 | 133.33 | -65.22 | 0.52 | -7.14 | 13.04 | 2.15 | 33.54 | -70.18 | 315.28 | 16.8 | 20.84 | 69.82 | -9.53 | 1325.42 | 30.18 | 32.23 | -68.27 | 4.35 | 7.14 | 0 |
| 20Q4 (8) | 4.01 | -0.25 | -16.11 | 0.50 | -52.38 | -67.32 | 0.65 | -58.86 | -49.22 | 0.30 | -75.0 | -70.0 | 0.65 | -78.76 | -71.49 | 0.24 | -70.73 | -70.0 | 0.56 | -8.2 | -13.85 | 1.61 | -32.92 | -31.49 | 269.94 | -9.85 | 12.98 | 77.18 | 15.79 | -35.51 | 22.82 | -31.56 | 215.65 | 4.06 | 17.68 | 0 |
| 20Q3 (7) | 4.02 | -0.99 | -13.92 | 1.05 | -22.79 | -28.08 | 1.58 | 13.67 | 35.04 | 1.20 | 17.65 | 53.85 | 3.06 | 11.27 | 70.0 | 0.82 | 1.23 | 22.39 | 0.61 | -8.96 | -1.61 | 2.40 | 6.67 | 3.45 | 299.43 | -11.5 | 12.57 | 66.65 | -31.97 | -46.83 | 33.35 | 1545.16 | 231.12 | 3.45 | 0 | -35.15 |
| 20Q2 (6) | 4.06 | -14.16 | -0.49 | 1.36 | 368.97 | 37.37 | 1.39 | -76.12 | 21.93 | 1.02 | -69.18 | 6.25 | 2.75 | -47.82 | 29.11 | 0.81 | -49.69 | 5.19 | 0.67 | 45.65 | 8.06 | 2.25 | -68.79 | -2.17 | 338.34 | 29.68 | 20.32 | 97.97 | 1900.12 | 12.5 | 2.03 | -97.87 | -84.3 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 4.73 | -1.05 | 0.64 | 0.29 | -81.05 | -73.64 | 5.82 | 354.69 | 252.73 | 3.31 | 231.0 | 190.35 | 5.27 | 131.14 | 137.39 | 1.61 | 101.25 | 93.98 | 0.46 | -29.23 | -19.3 | 7.21 | 206.81 | 139.53 | 260.91 | 9.2 | 13.3 | 4.90 | -95.91 | -92.69 | 95.10 | 581.91 | 187.89 | 0.00 | 0 | -100.0 |
| 19Q4 (4) | 4.78 | 2.36 | 0.0 | 1.53 | 4.79 | 0.0 | 1.28 | 9.4 | 0.0 | 1.00 | 28.21 | 0.0 | 2.28 | 26.67 | 0.0 | 0.80 | 19.4 | 0.0 | 0.65 | 4.84 | 0.0 | 2.35 | 1.29 | 0.0 | 238.93 | -10.17 | 0.0 | 119.67 | -4.54 | 0.0 | -19.73 | 22.41 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 4.67 | 14.46 | 0.0 | 1.46 | 47.47 | 0.0 | 1.17 | 2.63 | 0.0 | 0.78 | -18.75 | 0.0 | 1.80 | -15.49 | 0.0 | 0.67 | -12.99 | 0.0 | 0.62 | 0.0 | 0.0 | 2.32 | 0.87 | 0.0 | 265.99 | -5.41 | 0.0 | 125.37 | 43.95 | 0.0 | -25.43 | -296.97 | 0.0 | 5.32 | 5.56 | 0.0 |
| 19Q2 (2) | 4.08 | -13.19 | 0.0 | 0.99 | -10.0 | 0.0 | 1.14 | -30.91 | 0.0 | 0.96 | -15.79 | 0.0 | 2.13 | -4.05 | 0.0 | 0.77 | -7.23 | 0.0 | 0.62 | 8.77 | 0.0 | 2.30 | -23.59 | 0.0 | 281.20 | 22.11 | 0.0 | 87.09 | 30.05 | 0.0 | 12.91 | -60.91 | 0.0 | 5.04 | -9.68 | 0.0 |
| 19Q1 (1) | 4.70 | 0.0 | 0.0 | 1.10 | 0.0 | 0.0 | 1.65 | 0.0 | 0.0 | 1.14 | 0.0 | 0.0 | 2.22 | 0.0 | 0.0 | 0.83 | 0.0 | 0.0 | 0.57 | 0.0 | 0.0 | 3.01 | 0.0 | 0.0 | 230.29 | 0.0 | 0.0 | 66.97 | 0.0 | 0.0 | 33.03 | 0.0 | 0.0 | 5.58 | 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) | 5.12 | 6.67 | 1.45 | 17.89 | 0.47 | 17.07 | 1.41 | 6.82 | 1.17 | 4.46 | 10.11 | -3.9 | 4.09 | 16.19 | 2.17 | -3.56 | 2.98 | 23.14 | 297.80 | -0.16 | 103.15 | 11.01 | -3.15 | 0 | 0.24 | -41.58 | 4.26 | 7.3 |
| 2022 (9) | 4.80 | 11.89 | 1.23 | 35.16 | 0.40 | -11.78 | 1.32 | -10.81 | 1.12 | -1.75 | 10.52 | 1.06 | 3.52 | 24.38 | 2.25 | 0.0 | 2.42 | 7.56 | 298.28 | -12.02 | 92.92 | 51.41 | 7.08 | -81.68 | 0.42 | 6.6 | 3.97 | 0.25 |
| 2021 (8) | 4.29 | 3.37 | 0.91 | 4.6 | 0.45 | -20.43 | 1.48 | -27.45 | 1.14 | -11.63 | 10.41 | -9.08 | 2.83 | -22.25 | 2.25 | -10.0 | 2.25 | -25.0 | 339.05 | 25.6 | 61.37 | 42.97 | 38.64 | -32.3 | 0.39 | -4.53 | 3.96 | -3.18 |
| 2020 (7) | 4.15 | -8.99 | 0.87 | -32.03 | 0.57 | -10.29 | 2.04 | 56.92 | 1.29 | 32.99 | 11.45 | 35.82 | 3.64 | 16.29 | 2.50 | -0.4 | 3.00 | 20.97 | 269.94 | 12.98 | 42.92 | -56.36 | 57.08 | 3404.74 | 0.41 | -10.35 | 4.09 | -22.68 |
| 2019 (6) | 4.56 | -3.18 | 1.28 | -13.51 | 0.64 | -7.15 | 1.30 | -18.75 | 0.97 | -7.62 | 8.43 | -7.57 | 3.13 | -3.69 | 2.51 | 2.45 | 2.48 | -12.68 | 238.93 | -6.87 | 98.37 | 6.8 | 1.63 | -79.4 | 0.46 | 6.1 | 5.29 | -6.87 |
| 2018 (5) | 4.71 | -12.13 | 1.48 | -20.86 | 0.69 | -18.66 | 1.60 | 3.9 | 1.05 | 12.9 | 9.12 | 25.62 | 3.25 | 16.07 | 2.45 | 2.51 | 2.84 | -0.7 | 256.55 | 0.9 | 92.11 | -24.18 | 7.91 | 0 | 0.43 | 0 | 5.68 | 0.71 |
| 2017 (4) | 5.36 | -4.11 | 1.87 | -2.09 | 0.84 | -9.27 | 1.54 | -6.67 | 0.93 | -19.83 | 7.26 | -9.93 | 2.80 | -8.2 | 2.39 | 0.0 | 2.86 | -2.05 | 254.26 | 26.24 | 121.49 | 5.25 | -21.47 | 0 | 0.00 | 0 | 5.64 | 1.08 |
| 2016 (3) | 5.59 | 1.82 | 1.91 | 39.42 | 0.93 | -7.63 | 1.65 | -9.34 | 1.16 | -7.94 | 8.06 | 3.07 | 3.05 | -1.29 | 2.39 | 12.21 | 2.92 | -11.52 | 201.41 | 12.26 | 115.43 | 53.37 | -15.44 | 0 | 0.00 | 0 | 5.58 | -8.52 |
| 2015 (2) | 5.49 | 2.43 | 1.37 | -15.95 | 1.01 | 14.83 | 1.82 | -18.02 | 1.26 | -17.65 | 7.82 | -25.95 | 3.09 | -17.82 | 2.13 | 0.0 | 3.30 | -10.08 | 179.41 | -11.96 | 75.26 | 2.49 | 24.74 | -6.9 | 0.00 | 0 | 6.10 | 12.75 |
| 2014 (1) | 5.36 | 0 | 1.63 | 0 | 0.88 | 1.87 | 2.22 | 0 | 1.53 | 0 | 10.56 | 0 | 3.76 | 0 | 2.13 | -8.97 | 3.67 | 15.41 | 203.78 | -17.33 | 73.43 | -12.76 | 26.57 | 67.91 | 0.00 | 0 | 5.41 | 29.43 |
