- 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) | 42.61 | 11.57 | -6.58 | 7.36 | 220.85 | -71.19 | -4.25 | -168.66 | -123.33 | -1.07 | -145.73 | -107.45 | -0.19 | -142.22 | -103.28 | -0.13 | -138.24 | -102.89 | 0.14 | 0.0 | -54.84 | -1.69 | -118.82 | -108.62 | 28.35 | -8.87 | -5.78 | -170.00 | -70.0 | -221.22 | 270.00 | 35.0 | 770.91 | 28.31 | -28.2 | 36.3 |
| 23Q3 (19) | 38.19 | -14.53 | -4.62 | -6.09 | -126.83 | -146.49 | 6.19 | -77.43 | -73.7 | 2.34 | -88.77 | -87.75 | 0.45 | -94.27 | -92.13 | 0.34 | -94.01 | -92.29 | 0.14 | -48.15 | -39.13 | 8.98 | -68.91 | -65.1 | 31.11 | -29.49 | 6.21 | -100.00 | -220.95 | -280.0 | 200.00 | 1054.55 | 350.0 | 39.43 | 92.53 | 49.36 |
| 23Q2 (18) | 44.68 | 3.88 | 12.23 | 22.70 | -3.69 | 30.69 | 27.43 | 20.94 | 37.36 | 20.84 | 18.61 | 101.35 | 7.86 | 7.97 | 93.6 | 5.68 | 2.53 | 85.02 | 0.27 | -12.9 | -6.9 | 28.88 | 21.14 | 32.48 | 44.12 | 32.06 | 40.46 | 82.68 | -20.86 | -5.7 | 17.32 | 585.04 | 26.46 | 20.48 | 13.59 | -4.07 |
| 23Q1 (17) | 43.01 | -5.7 | 9.27 | 23.57 | -7.75 | 283.85 | 22.68 | 24.48 | -50.39 | 17.57 | 22.35 | -59.64 | 7.28 | 25.73 | 7.37 | 5.54 | 23.11 | 12.37 | 0.31 | 0.0 | 181.82 | 23.84 | 21.63 | -53.36 | 33.41 | 11.03 | -10.93 | 104.46 | -25.51 | 480.99 | -3.57 | 91.13 | -102.8 | 18.03 | -13.19 | -62.7 |
| 22Q4 (16) | 45.61 | 13.91 | 18.99 | 25.55 | 95.04 | 700.94 | 18.22 | -22.6 | 147.55 | 14.36 | -24.82 | 142.57 | 5.79 | 1.22 | 302.08 | 4.50 | 2.04 | 332.69 | 0.31 | 34.78 | 93.75 | 19.60 | -23.82 | 72.84 | 30.09 | 2.73 | -25.3 | 140.24 | 152.44 | 227.24 | -40.24 | -190.55 | -170.43 | 20.77 | -21.33 | -27.1 |
| 22Q3 (15) | 40.04 | 0.58 | 7.72 | 13.10 | -24.58 | 111.97 | 23.54 | 17.88 | 152.85 | 19.10 | 84.54 | 126.3 | 5.72 | 40.89 | 114.23 | 4.41 | 43.65 | 150.57 | 0.23 | -20.69 | 15.0 | 25.73 | 18.03 | 98.08 | 29.29 | -6.75 | -47.71 | 55.56 | -36.63 | -16.67 | 44.44 | 224.44 | 33.33 | 26.40 | 23.65 | -4.0 |
| 22Q2 (14) | 39.81 | 1.14 | 4.19 | 17.37 | 235.49 | 400.58 | 19.97 | -56.32 | 1436.15 | 10.35 | -76.22 | 956.12 | 4.06 | -40.12 | 1350.0 | 3.07 | -37.73 | 1179.17 | 0.29 | 163.64 | 61.11 | 21.80 | -57.35 | 298.54 | 31.41 | -16.26 | -49.08 | 87.67 | 419.74 | -62.43 | 13.70 | -89.25 | 110.27 | 21.35 | -55.83 | -32.9 |
| 22Q1 (13) | 39.36 | 2.69 | 17.81 | -12.82 | -501.88 | 6.97 | 45.72 | 521.2 | 410.81 | 43.53 | 635.3 | 430.78 | 6.78 | 370.83 | 283.74 | 4.93 | 374.04 | 319.11 | 0.11 | -31.25 | -38.89 | 51.11 | 350.71 | 613.67 | 37.51 | -6.88 | -40.35 | -27.42 | -163.98 | -129.38 | 127.42 | 122.98 | 1811.29 | 48.34 | 69.67 | 22.72 |
| 21Q4 (12) | 38.33 | 3.12 | -2.59 | 3.19 | -48.38 | 172.17 | 7.36 | -20.95 | 173.67 | 5.92 | -29.86 | 169.08 | 1.44 | -46.07 | 172.0 | 1.04 | -40.91 | 188.14 | 0.16 | -20.0 | 6.67 | 11.34 | -12.7 | 378.62 | 40.28 | -28.08 | -28.21 | 42.86 | -35.71 | -8.93 | 57.14 | 71.43 | -2.86 | 28.49 | 3.6 | -20.02 |
| 21Q3 (11) | 37.17 | -2.72 | 5.3 | 6.18 | 78.1 | 150.7 | 9.31 | 616.15 | 160.49 | 8.44 | 761.22 | 166.83 | 2.67 | 853.57 | 186.97 | 1.76 | 633.33 | 193.62 | 0.20 | 11.11 | 33.33 | 12.99 | 137.48 | 233.5 | 56.01 | -9.21 | -10.05 | 66.67 | -71.43 | -15.15 | 33.33 | 125.0 | 55.56 | 27.50 | -13.58 | -38.53 |
| 21Q2 (10) | 38.21 | 14.37 | 15.75 | 3.47 | 125.18 | 136.84 | 1.30 | 108.84 | 129.89 | 0.98 | 107.45 | 122.9 | 0.28 | 107.59 | 124.56 | 0.24 | 110.67 | 135.29 | 0.18 | 0.0 | 5.88 | 5.47 | 154.97 | 1016.33 | 61.69 | -1.89 | 17.33 | 233.33 | 150.0 | 10.53 | -133.33 | -2100.0 | -20.0 | 31.82 | -19.22 | -19.85 |
| 21Q1 (9) | 33.41 | -15.1 | -27.95 | -13.78 | -211.76 | -249.13 | -14.71 | -47.25 | -260.77 | -13.16 | -53.56 | -307.9 | -3.69 | -84.5 | -277.4 | -2.25 | -90.68 | -263.04 | 0.18 | 20.0 | -14.29 | -9.95 | -144.47 | -176.6 | 62.88 | 12.07 | 7.21 | 93.33 | 98.33 | -6.67 | 6.67 | -88.67 | 0 | 39.39 | 10.58 | 21.88 |
| 20Q4 (8) | 39.35 | 11.47 | -10.45 | -4.42 | 63.74 | -216.32 | -9.99 | 35.09 | -6343.75 | -8.57 | 32.15 | -6492.31 | -2.00 | 34.85 | -4900.0 | -1.18 | 37.23 | -6000.0 | 0.15 | 0.0 | -25.0 | -4.07 | 58.17 | -194.87 | 56.11 | -9.89 | 4.12 | 47.06 | -40.11 | 0 | 58.82 | 174.51 | 0 | 35.62 | -20.38 | 9.57 |
| 20Q3 (7) | 35.30 | 6.94 | -16.88 | -12.19 | -29.41 | -267.91 | -15.39 | -253.79 | -319.86 | -12.63 | -195.09 | -345.24 | -3.07 | -169.3 | -273.45 | -1.88 | -176.47 | -257.98 | 0.15 | -11.76 | -31.82 | -9.73 | -2085.71 | -190.68 | 62.27 | 18.43 | 13.3 | 78.57 | -62.78 | -25.56 | 21.43 | 119.29 | 485.71 | 44.74 | 12.7 | 42.62 |
| 20Q2 (6) | 33.01 | -28.81 | -19.51 | -9.42 | -201.95 | -254.43 | -4.35 | -147.54 | -143.28 | -4.28 | -167.61 | -158.31 | -1.14 | -154.81 | -143.35 | -0.68 | -149.28 | -139.53 | 0.17 | -19.05 | -26.09 | 0.49 | -96.23 | -96.36 | 52.58 | -10.35 | -8.43 | 211.11 | 111.11 | 256.25 | -111.11 | 0 | -372.73 | 39.70 | 22.83 | 27.37 |
| 20Q1 (5) | 46.37 | 5.53 | 19.3 | 9.24 | 143.16 | 272.07 | 9.15 | 5618.75 | 337.66 | 6.33 | 4969.23 | 261.48 | 2.08 | 5300.0 | 273.33 | 1.38 | 6800.0 | 294.37 | 0.21 | 5.0 | 5.0 | 12.99 | 202.8 | 0 | 58.65 | 8.83 | -0.83 | 100.00 | 0 | -25.0 | -0.00 | 0 | 100.0 | 32.32 | -0.58 | -18.57 |
| 19Q4 (4) | 43.94 | 3.46 | 0.0 | 3.80 | -47.66 | 0.0 | 0.16 | -97.71 | 0.0 | -0.13 | -102.52 | 0.0 | -0.04 | -102.26 | 0.0 | 0.02 | -98.32 | 0.0 | 0.20 | -9.09 | 0.0 | 4.29 | -60.02 | 0.0 | 53.89 | -1.95 | 0.0 | 0.00 | -100.0 | 0.0 | 0.00 | 100.0 | 0.0 | 32.51 | 3.63 | 0.0 |
| 19Q3 (3) | 42.47 | 3.56 | 0.0 | 7.26 | 19.02 | 0.0 | 7.00 | -30.35 | 0.0 | 5.15 | -29.84 | 0.0 | 1.77 | -32.7 | 0.0 | 1.19 | -30.81 | 0.0 | 0.22 | -4.35 | 0.0 | 10.73 | -20.4 | 0.0 | 54.96 | -4.28 | 0.0 | 105.56 | 78.13 | 0.0 | -5.56 | -113.64 | 0.0 | 31.37 | 0.64 | 0.0 |
| 19Q2 (2) | 41.01 | 5.51 | 0.0 | 6.10 | 213.59 | 0.0 | 10.05 | 361.04 | 0.0 | 7.34 | 287.24 | 0.0 | 2.63 | 319.17 | 0.0 | 1.72 | 342.25 | 0.0 | 0.23 | 15.0 | 0.0 | 13.48 | 0 | 0.0 | 57.42 | -2.91 | 0.0 | 59.26 | -55.56 | 0.0 | 40.74 | 222.22 | 0.0 | 31.17 | -21.47 | 0.0 |
| 19Q1 (1) | 38.87 | 0.0 | 0.0 | -5.37 | 0.0 | 0.0 | -3.85 | 0.0 | 0.0 | -3.92 | 0.0 | 0.0 | -1.20 | 0.0 | 0.0 | -0.71 | 0.0 | 0.0 | 0.20 | 0.0 | 0.0 | 0.00 | 0.0 | 0.0 | 59.14 | 0.0 | 0.0 | 133.33 | 0.0 | 0.0 | -33.33 | 0.0 | 0.0 | 39.69 | 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) | 42.66 | 1.84 | 15.57 | -2.75 | 1.46 | -16.61 | 16.98 | -26.11 | 12.97 | -25.8 | 15.01 | -31.99 | 11.69 | -29.41 | 0.90 | -4.26 | 18.75 | -25.36 | 28.35 | -5.78 | 91.43 | 31.46 | 8.16 | -73.19 | 0.47 | 39.32 | 24.15 | -4.43 |
| 2022 (9) | 41.89 | 13.89 | 16.01 | 0 | 1.75 | -46.43 | 22.98 | 2047.66 | 17.48 | 2112.66 | 22.07 | 2559.04 | 16.56 | 1871.43 | 0.94 | 32.39 | 25.12 | 383.08 | 30.09 | -25.3 | 69.55 | 0 | 30.45 | -69.55 | 0.33 | -82.06 | 25.27 | -20.21 |
| 2021 (8) | 36.78 | -5.74 | -0.03 | 0 | 3.26 | -19.27 | 1.07 | 0 | 0.79 | 0 | 0.83 | 0 | 0.84 | 0 | 0.71 | 1.43 | 5.20 | 430.61 | 40.28 | -28.21 | 0.00 | 0 | 100.00 | 520.0 | 1.86 | -21.42 | 31.67 | -15.97 |
| 2020 (7) | 39.02 | -6.18 | -3.19 | 0 | 4.04 | 28.76 | -3.84 | 0 | -3.77 | 0 | -4.12 | 0 | -2.41 | 0 | 0.70 | -18.6 | 0.98 | -87.11 | 56.11 | 4.12 | 83.87 | -3.02 | 16.13 | 19.35 | 2.37 | -15.45 | 37.69 | 12.54 |
| 2019 (6) | 41.59 | 5.21 | 3.23 | 348.61 | 3.14 | 59.24 | 3.72 | 220.69 | 2.42 | 633.33 | 3.16 | 602.22 | 2.30 | 379.17 | 0.86 | -6.52 | 7.60 | 97.4 | 53.89 | 6.02 | 86.49 | 48.26 | 13.51 | -59.46 | 2.80 | -7.56 | 33.49 | -0.33 |
| 2018 (5) | 39.53 | -4.98 | 0.72 | 0 | 1.97 | -38.78 | 1.16 | 0 | 0.33 | 0 | 0.45 | 0 | 0.48 | 0 | 0.92 | 22.67 | 3.85 | 0 | 50.83 | 6.01 | 58.33 | -18.06 | 33.33 | 22.92 | 3.03 | 0 | 33.60 | -15.43 |
| 2017 (4) | 41.60 | -10.4 | -5.07 | 0 | 3.22 | 18.94 | -7.00 | 0 | -8.36 | 0 | -8.91 | 0 | -6.15 | 0 | 0.75 | -5.06 | -2.86 | 0 | 47.95 | 30.19 | 71.19 | 6.78 | 27.12 | -18.64 | 0.00 | 0 | 39.73 | 6.69 |
| 2016 (3) | 46.43 | 8.86 | 2.46 | 223.68 | 2.71 | 4.04 | 3.71 | 75.0 | 2.06 | 23.35 | 2.19 | 27.33 | 1.75 | 23.24 | 0.79 | 0.0 | 7.22 | 35.46 | 36.83 | 13.22 | 66.67 | 100.0 | 33.33 | -50.0 | 0.00 | 0 | 37.24 | 8.98 |
| 2015 (2) | 42.65 | 20.14 | 0.76 | 0 | 2.60 | 19.28 | 2.12 | 0 | 1.67 | 0 | 1.72 | 0 | 1.42 | 0 | 0.79 | 11.27 | 5.33 | 461.05 | 32.53 | 20.21 | 33.33 | -87.72 | 66.67 | 0 | 0.00 | 0 | 34.17 | 4.56 |
| 2014 (1) | 35.50 | 0 | -5.15 | 0 | 2.18 | -18.43 | -1.91 | 0 | -1.52 | 0 | -1.36 | 0 | -1.02 | 0 | 0.71 | 4.41 | 0.95 | -60.25 | 27.06 | 6.96 | 271.43 | 8.57 | -171.43 | 0 | 0.00 | 0 | 32.68 | -6.39 |
