- 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) | 40.15 | 13.32 | 5.77 | -0.54 | -160.67 | -105.54 | -663.09 | -167.59 | 24.14 | -647.26 | -166.64 | 24.26 | -3.96 | -154.85 | 63.67 | -3.23 | -154.56 | 53.12 | 0.01 | 0.0 | 0.0 | -645.55 | -164.87 | 24.73 | 18.29 | -20.79 | -24.14 | 0.08 | -12.46 | 107.11 | 99.92 | 0.01 | -1.19 | 19.28 | 19.01 | 96.33 |
| 23Q3 (19) | 35.43 | 1.43 | -7.11 | 0.89 | -80.44 | 121.65 | 980.98 | 44.53 | -15.26 | 971.31 | 45.04 | -10.98 | 7.22 | 45.56 | -86.35 | 5.92 | 44.39 | -56.76 | 0.01 | 0.0 | 0.0 | 995.13 | 43.52 | -15.55 | 23.09 | 0.61 | -87.37 | 0.09 | -86.56 | 125.26 | 99.91 | 0.59 | -0.43 | 16.20 | 4.52 | -37.86 |
| 23Q2 (18) | 34.93 | 14.52 | -0.2 | 4.55 | 6.81 | -50.0 | 678.73 | 2478.76 | -17.45 | 669.67 | 3393.32 | -9.97 | 4.96 | 2817.65 | -67.0 | 4.10 | 2057.89 | -45.84 | 0.01 | 0.0 | 0.0 | 693.38 | 1674.71 | -17.25 | 22.95 | 4.46 | -96.31 | 0.67 | -95.87 | -39.31 | 99.33 | 18.59 | 0.44 | 15.50 | 22.53 | 15.76 |
| 23Q1 (17) | 30.50 | -19.65 | 17.62 | 4.26 | -56.26 | 157.03 | 26.32 | 103.01 | -95.59 | 19.17 | 102.24 | -96.73 | 0.17 | 101.56 | -96.08 | 0.19 | 102.76 | -94.01 | 0.01 | 0.0 | 0.0 | 39.07 | 104.56 | -93.62 | 21.97 | -8.88 | -58.02 | 16.24 | 1561.42 | 1402.2 | 83.76 | -17.18 | -17.28 | 12.65 | 28.82 | -33.39 |
| 22Q4 (16) | 37.96 | -0.47 | -8.15 | 9.74 | 336.98 | 476.33 | -874.12 | -175.51 | -452.84 | -854.53 | -178.31 | -415.84 | -10.90 | -120.61 | -862.24 | -6.89 | -150.33 | -715.18 | 0.01 | 0.0 | 0 | -857.66 | -172.78 | -423.49 | 24.11 | -86.82 | -23.17 | -1.11 | -211.1 | -257.93 | 101.13 | 0.78 | 1.78 | 9.82 | -62.33 | -51.7 |
| 22Q3 (15) | 38.14 | 8.97 | -5.9 | -4.11 | -145.16 | -134.11 | 1157.59 | 40.79 | 53.82 | 1091.15 | 46.69 | 45.9 | 52.89 | 251.9 | 1054.8 | 13.69 | 80.85 | 293.39 | 0.01 | 0.0 | 0 | 1178.43 | 40.64 | 53.55 | 182.87 | -70.59 | 447.84 | -0.36 | -132.29 | -122.3 | 100.34 | 1.47 | 1.98 | 26.07 | 94.7 | 87.55 |
| 22Q2 (14) | 35.00 | 34.98 | 24.16 | 9.10 | 221.82 | 464.0 | 822.19 | 37.72 | 56.41 | 743.84 | 26.74 | 55.48 | 15.03 | 246.31 | 402.68 | 7.57 | 138.8 | 233.48 | 0.01 | 0.0 | 0 | 837.88 | 36.79 | 55.02 | 621.69 | 1088.02 | 1768.62 | 1.11 | 188.71 | 326.49 | 98.89 | -2.33 | -1.59 | 13.39 | -29.49 | -12.54 |
| 22Q1 (13) | 25.93 | -37.26 | -18.97 | -7.47 | -542.01 | -56.6 | 596.99 | 140.97 | -45.25 | 586.92 | 116.93 | -45.79 | 4.34 | 203.5 | -31.11 | 3.17 | 183.04 | -33.12 | 0.01 | 0 | 0 | 612.55 | 131.04 | -44.68 | 52.33 | 66.76 | 46.91 | -1.25 | -277.24 | -181.87 | 101.25 | 1.9 | 0.8 | 18.99 | -6.59 | 0.37 |
| 21Q4 (12) | 41.33 | 1.97 | 3.17 | 1.69 | -85.98 | 137.72 | 247.74 | -67.08 | 20545.0 | 270.56 | -63.82 | 2324.37 | 1.43 | -68.78 | 2283.33 | 1.12 | -67.82 | 1144.44 | 0.00 | 0 | 0 | 265.13 | -65.45 | 1327.73 | 31.38 | -5.99 | -4.71 | 0.70 | -56.07 | 100.18 | 99.36 | 0.98 | -80.13 | 20.33 | 46.26 | -11.57 |
| 21Q3 (11) | 40.53 | 43.77 | 55.29 | 12.05 | 582.0 | 215.87 | 752.55 | 43.16 | 14.28 | 747.86 | 56.32 | 13.61 | 4.58 | 53.18 | 15.66 | 3.48 | 53.3 | 21.68 | 0.00 | 0 | 0 | 767.45 | 41.99 | 13.27 | 33.38 | 0.33 | -15.94 | 1.60 | 427.86 | 201.11 | 98.40 | -2.08 | -3.14 | 13.90 | -9.21 | -26.18 |
| 21Q2 (10) | 28.19 | -11.91 | -36.48 | -2.50 | 47.59 | -113.01 | 525.67 | -51.79 | 71.63 | 478.42 | -55.81 | 232.03 | 2.99 | -52.54 | 94.16 | 2.27 | -52.11 | 104.5 | 0.00 | 0 | -100.0 | 540.51 | -51.19 | 69.33 | 33.27 | -6.6 | -20.23 | -0.49 | -10.41 | -107.8 | 100.49 | 0.05 | 7.21 | 15.31 | -19.08 | 0 |
| 21Q1 (9) | 32.00 | -20.12 | 10.15 | -4.77 | -6.47 | -41.96 | 1090.35 | 90762.5 | 149.06 | 1082.61 | 9600.81 | 150.7 | 6.30 | 10400.0 | 55.56 | 4.74 | 5166.67 | 67.49 | 0.00 | 0 | -100.0 | 1107.32 | 5862.95 | 143.44 | 35.62 | 8.17 | -33.85 | -0.44 | 99.89 | 41.22 | 100.44 | -79.91 | -0.34 | 18.92 | -17.7 | 0 |
| 20Q4 (8) | 40.06 | 53.49 | 20.99 | -4.48 | 56.92 | -318.69 | 1.20 | -99.82 | 100.8 | 11.16 | -98.3 | 107.04 | 0.06 | -98.48 | 104.48 | 0.09 | -96.85 | 110.0 | 0.00 | 0 | -100.0 | 18.57 | -97.26 | 113.93 | 32.93 | -17.07 | -19.01 | -400.00 | -25146.67 | -53850.0 | 500.00 | 392.2 | 403.75 | 22.99 | 22.09 | 0 |
| 20Q3 (7) | 26.10 | -41.19 | 175.32 | -10.40 | -154.14 | 54.39 | 658.49 | 115.0 | 19.95 | 658.27 | 356.85 | 20.03 | 3.96 | 157.14 | -26.94 | 2.86 | 157.66 | -25.71 | 0.00 | -100.0 | -100.0 | 677.57 | 112.27 | 20.17 | 39.71 | -4.8 | 1.25 | -1.58 | -125.28 | 61.74 | 101.58 | 8.38 | -2.46 | 18.83 | 0 | 20.4 |
| 20Q2 (6) | 44.38 | 52.77 | 26.08 | 19.21 | 671.73 | 28.49 | 306.28 | -30.04 | -13.47 | 144.09 | -66.63 | -59.19 | 1.54 | -61.98 | -74.84 | 1.11 | -60.78 | -73.38 | 0.01 | 0.0 | 0.0 | 319.20 | -29.83 | -12.17 | 41.71 | -22.54 | -11.5 | 6.27 | 932.4 | 48.46 | 93.73 | -7.0 | -2.14 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 29.05 | -12.26 | 33.5 | -3.36 | -214.02 | 42.27 | 437.79 | 392.33 | 79.11 | 431.83 | 372.22 | 78.14 | 4.05 | 402.24 | -13.09 | 2.83 | 414.44 | -2.08 | 0.01 | 0.0 | 0.0 | 454.87 | 441.26 | 77.7 | 53.85 | 32.44 | 5.46 | -0.75 | -201.17 | 68.6 | 100.79 | 1.54 | -1.57 | 0.00 | 0 | -100.0 |
| 19Q4 (4) | 33.11 | 249.26 | 0.0 | -1.07 | 95.31 | 0.0 | -149.76 | -127.28 | 0.0 | -158.63 | -128.92 | 0.0 | -1.34 | -124.72 | 0.0 | -0.90 | -123.38 | 0.0 | 0.01 | 0.0 | 0.0 | -133.29 | -123.64 | 0.0 | 40.66 | 3.67 | 0.0 | 0.74 | 117.97 | 0.0 | 99.26 | -4.69 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 9.48 | -73.07 | 0.0 | -22.80 | -252.51 | 0.0 | 548.97 | 55.09 | 0.0 | 548.42 | 55.34 | 0.0 | 5.42 | -11.44 | 0.0 | 3.85 | -7.67 | 0.0 | 0.01 | 0.0 | 0.0 | 563.82 | 55.14 | 0.0 | 39.22 | -16.78 | 0.0 | -4.14 | -198.11 | 0.0 | 104.14 | 8.73 | 0.0 | 15.64 | 47.55 | 0.0 |
| 19Q2 (2) | 35.20 | 61.76 | 0.0 | 14.95 | 356.87 | 0.0 | 353.96 | 44.82 | 0.0 | 353.05 | 45.64 | 0.0 | 6.12 | 31.33 | 0.0 | 4.17 | 44.29 | 0.0 | 0.01 | 0.0 | 0.0 | 363.43 | 41.98 | 0.0 | 47.13 | -7.7 | 0.0 | 4.22 | 276.04 | 0.0 | 95.78 | -6.46 | 0.0 | 10.60 | -39.81 | 0.0 |
| 19Q1 (1) | 21.76 | 0.0 | 0.0 | -5.82 | 0.0 | 0.0 | 244.42 | 0.0 | 0.0 | 242.41 | 0.0 | 0.0 | 4.66 | 0.0 | 0.0 | 2.89 | 0.0 | 0.0 | 0.01 | 0.0 | 0.0 | 255.98 | 0.0 | 0.0 | 51.06 | 0.0 | 0.0 | -2.40 | 0.0 | 0.0 | 102.40 | 0.0 | 0.0 | 17.61 | 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) | 34.93 | 2.34 | 2.45 | 25.64 | 3.69 | 4.05 | 285.94 | -37.24 | 282.57 | -32.67 | 8.40 | -28.75 | 7.16 | -23.91 | 0.02 | 0.0 | 300.48 | -36.4 | 18.29 | -24.14 | 0.86 | 101.33 | 99.14 | -0.44 | 0.00 | -12.02 | 15.69 | -7.54 |
| 2022 (9) | 34.13 | -3.8 | 1.95 | 6.56 | 3.55 | -3.35 | 455.58 | -30.54 | 419.71 | -35.02 | 11.79 | -19.41 | 9.41 | -16.28 | 0.02 | 0.0 | 472.44 | -29.68 | 24.11 | -23.17 | 0.43 | 54.35 | 99.57 | -0.15 | 0.00 | -99.59 | 16.97 | 0.0 |
| 2021 (8) | 35.48 | -0.5 | 1.83 | -4.19 | 3.67 | -4.32 | 655.92 | 89.93 | 645.88 | 118.43 | 14.63 | 80.84 | 11.24 | 83.06 | 0.02 | 0.0 | 671.81 | 85.76 | 31.38 | -4.71 | 0.28 | -49.64 | 99.72 | 0.27 | 0.24 | -7.09 | 16.97 | -1.57 |
| 2020 (7) | 35.66 | 37.05 | 1.91 | 0 | 3.84 | 29.89 | 345.35 | 29.71 | 295.69 | 12.22 | 8.09 | -48.7 | 6.14 | -41.36 | 0.02 | -50.0 | 361.66 | 29.72 | 32.93 | -19.01 | 0.55 | 0 | 99.45 | -1.26 | 0.26 | -27.53 | 17.24 | 17.68 |
| 2019 (6) | 26.02 | -56.44 | -1.92 | 0 | 2.95 | 121.56 | 266.24 | 116.33 | 263.50 | 79.43 | 15.77 | -62.06 | 10.47 | -52.39 | 0.04 | -73.33 | 278.80 | 118.68 | 40.66 | -55.96 | -0.72 | 0 | 100.72 | 61.31 | 0.36 | -49.06 | 14.65 | 98.51 |
| 2018 (5) | 59.73 | -30.77 | 46.23 | -42.64 | 1.33 | 179.73 | 123.07 | 20.8 | 146.85 | 89.58 | 41.57 | -35.88 | 21.99 | -37.67 | 0.15 | -66.67 | 127.49 | 23.3 | 92.33 | 0.51 | 37.56 | -52.51 | 62.44 | 198.71 | 0.70 | 35.29 | 7.38 | 178.49 |
| 2017 (4) | 86.28 | 82.68 | 80.59 | 168.45 | 0.48 | -74.81 | 101.88 | -4.19 | 77.46 | -26.09 | 64.83 | 139.23 | 35.28 | 120.78 | 0.45 | 200.0 | 103.40 | -7.42 | 91.86 | 18.39 | 79.10 | 180.18 | 20.90 | -70.88 | 0.52 | 0 | 2.65 | -72.4 |
| 2016 (3) | 47.23 | 12.11 | 30.02 | 22.73 | 1.89 | -43.28 | 106.34 | 19.79 | 104.81 | 10.99 | 27.10 | 18.96 | 15.98 | 5.97 | 0.15 | 0.0 | 111.69 | 16.1 | 77.59 | 10.2 | 28.23 | 2.42 | 71.77 | -0.92 | 0.00 | 0 | 9.60 | -2.14 |
| 2015 (2) | 42.13 | -4.49 | 24.46 | -5.16 | 3.34 | -9.37 | 88.77 | -5.65 | 94.43 | 1.49 | 22.78 | 89.83 | 15.08 | 49.31 | 0.15 | 36.36 | 96.20 | -5.26 | 70.41 | 64.39 | 27.57 | 0.55 | 72.43 | -0.21 | 0.00 | 0 | 9.81 | -7.28 |
| 2014 (1) | 44.11 | 0 | 25.79 | 0 | 3.68 | 881.93 | 94.09 | 0 | 93.04 | 0 | 12.00 | 0 | 10.10 | 0 | 0.11 | -88.17 | 101.54 | -2.54 | 42.83 | 204.19 | 27.41 | -68.72 | 72.59 | 487.84 | 0.00 | 0 | 10.58 | 553.09 |
