- 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) | 13.37 | 21.77 | 1.36 | 5.56 | -12.3 | 0.18 | 6.46 | -5.0 | 7.31 | 5.33 | 2.5 | 16.12 | 4.15 | -17.5 | 20.64 | 2.21 | -14.01 | 28.49 | 0.41 | -16.33 | 10.81 | 6.77 | -3.84 | 6.95 | 86.14 | -4.17 | -14.89 | 86.12 | -7.42 | -6.48 | 13.88 | 98.88 | 75.43 | 5.43 | 38.17 | 3.04 |
| 23Q3 (19) | 10.98 | -9.03 | 8.18 | 6.34 | 24.31 | 20.3 | 6.80 | 23.86 | 13.14 | 5.20 | 7.66 | 2.97 | 5.03 | 22.38 | -0.4 | 2.57 | 29.8 | 1.98 | 0.49 | 19.51 | -2.0 | 7.04 | 22.01 | 12.46 | 89.89 | -12.54 | -10.31 | 93.02 | -0.09 | 6.18 | 6.98 | 1.16 | -43.69 | 3.93 | -15.67 | 16.96 |
| 23Q2 (18) | 12.07 | 9.23 | -0.49 | 5.10 | -9.41 | -9.73 | 5.49 | -8.04 | -7.73 | 4.83 | 1.05 | 1.26 | 4.11 | -12.18 | 4.85 | 1.98 | -12.39 | 5.32 | 0.41 | -12.77 | 5.13 | 5.77 | -7.09 | -7.38 | 102.78 | -9.85 | 0.71 | 93.10 | -1.11 | -1.91 | 6.90 | 17.77 | 35.63 | 4.66 | 21.04 | 18.88 |
| 23Q1 (17) | 11.05 | -16.22 | -5.47 | 5.63 | 1.44 | -4.41 | 5.97 | -0.83 | 0.0 | 4.78 | 4.14 | 0.42 | 4.68 | 36.05 | 20.0 | 2.26 | 31.4 | 18.95 | 0.47 | 27.03 | 17.5 | 6.21 | -1.9 | -0.64 | 114.01 | 12.65 | -2.43 | 94.14 | 2.23 | -4.3 | 5.86 | -25.97 | 438.74 | 3.85 | -26.94 | -4.47 |
| 22Q4 (16) | 13.19 | 29.95 | 8.03 | 5.55 | 5.31 | 7.14 | 6.02 | 0.17 | 15.77 | 4.59 | -9.11 | 11.41 | 3.44 | -31.88 | -8.02 | 1.72 | -31.75 | -0.58 | 0.37 | -26.0 | -11.9 | 6.33 | 1.12 | 15.09 | 101.21 | 0.99 | 6.95 | 92.09 | 5.11 | -7.32 | 7.91 | -36.16 | 1149.72 | 5.27 | 56.85 | 0.57 |
| 22Q3 (15) | 10.15 | -16.32 | 20.4 | 5.27 | -6.73 | 10.95 | 6.01 | 1.01 | 16.02 | 5.05 | 5.87 | 20.53 | 5.05 | 28.83 | -25.19 | 2.52 | 34.04 | -10.0 | 0.50 | 28.21 | -25.37 | 6.26 | 0.48 | 16.79 | 100.22 | -1.8 | -33.77 | 87.61 | -7.7 | -4.62 | 12.39 | 143.66 | 52.11 | 3.36 | -14.29 | 23.08 |
| 22Q2 (14) | 12.13 | 3.76 | 13.9 | 5.65 | -4.07 | 13.0 | 5.95 | -0.34 | 7.21 | 4.77 | 0.21 | 9.4 | 3.92 | 0.51 | -15.15 | 1.88 | -1.05 | -5.05 | 0.39 | -2.5 | -13.33 | 6.23 | -0.32 | 7.41 | 102.06 | -12.66 | -22.54 | 94.92 | -3.51 | 4.83 | 5.08 | 367.8 | -49.83 | 3.92 | -2.73 | -2.24 |
| 22Q1 (13) | 11.69 | -4.26 | 21.01 | 5.89 | 13.71 | 29.17 | 5.97 | 14.81 | 18.69 | 4.76 | 15.53 | 19.6 | 3.90 | 4.28 | -12.95 | 1.90 | 9.83 | -6.86 | 0.40 | -4.76 | -21.57 | 6.25 | 13.64 | 19.05 | 116.85 | 23.48 | -13.83 | 98.37 | -1.0 | 8.8 | 1.09 | 71.74 | -88.66 | 4.03 | -23.09 | 9.51 |
| 21Q4 (12) | 12.21 | 44.84 | 10.2 | 5.18 | 9.05 | 20.75 | 5.20 | 0.39 | 0.58 | 4.12 | -1.67 | 0.0 | 3.74 | -44.59 | 5.95 | 1.73 | -38.21 | -3.35 | 0.42 | -37.31 | -4.55 | 5.50 | 2.61 | 0.73 | 94.63 | -37.47 | -9.86 | 99.37 | 8.18 | 20.07 | 0.63 | -92.23 | -96.33 | 5.24 | 91.94 | 6.94 |
| 21Q3 (11) | 8.43 | -20.85 | -20.02 | 4.75 | -5.0 | -5.38 | 5.18 | -6.67 | -9.6 | 4.19 | -3.9 | -9.89 | 6.75 | 46.1 | 46.74 | 2.80 | 41.41 | 21.74 | 0.67 | 48.89 | 36.73 | 5.36 | -7.59 | -10.67 | 151.33 | 14.86 | 71.15 | 91.86 | 1.45 | 4.45 | 8.14 | -19.64 | -32.45 | 2.73 | -31.92 | -31.06 |
| 21Q2 (10) | 10.65 | 10.25 | -8.51 | 5.00 | 9.65 | -22.48 | 5.55 | 10.34 | -20.03 | 4.36 | 9.55 | -20.15 | 4.62 | 3.12 | -19.51 | 1.98 | -2.94 | -26.12 | 0.45 | -11.76 | -8.16 | 5.80 | 10.48 | -19.33 | 131.75 | -2.84 | 17.03 | 90.54 | 0.14 | -2.45 | 10.14 | 5.69 | 41.11 | 4.01 | 8.97 | 4.97 |
| 21Q1 (9) | 9.66 | -12.82 | 3.65 | 4.56 | 6.29 | -1.3 | 5.03 | -2.71 | 9.35 | 3.98 | -3.4 | 9.94 | 4.48 | 26.91 | 20.43 | 2.04 | 13.97 | 17.24 | 0.51 | 15.91 | 8.51 | 5.25 | -3.85 | 8.02 | 135.60 | 29.17 | 15.63 | 90.41 | 9.25 | -10.36 | 9.59 | -44.38 | 1212.33 | 3.68 | -24.9 | 7.6 |
| 20Q4 (8) | 11.08 | 5.12 | 3.36 | 4.29 | -14.54 | -22.98 | 5.17 | -9.77 | -12.96 | 4.12 | -11.4 | -11.59 | 3.53 | -23.26 | -26.76 | 1.79 | -22.17 | -21.15 | 0.44 | -10.2 | -10.2 | 5.46 | -9.0 | -11.94 | 104.98 | 18.73 | -9.01 | 82.76 | -5.9 | -11.76 | 17.24 | 43.0 | 177.78 | 4.90 | 23.74 | 15.84 |
| 20Q3 (7) | 10.54 | -9.45 | 21.15 | 5.02 | -22.17 | 130.28 | 5.73 | -17.44 | 111.44 | 4.65 | -14.84 | 114.29 | 4.60 | -19.86 | 100.0 | 2.30 | -14.18 | 103.54 | 0.49 | 0.0 | -3.92 | 6.00 | -16.55 | 101.34 | 88.42 | -21.46 | -19.68 | 87.94 | -5.25 | 9.93 | 12.06 | 67.87 | -39.72 | 3.96 | 3.66 | 7.32 |
| 20Q2 (6) | 11.64 | 24.89 | 9.19 | 6.45 | 39.61 | 12.37 | 6.94 | 50.87 | 9.46 | 5.46 | 50.83 | 10.98 | 5.74 | 54.3 | 32.26 | 2.68 | 54.02 | 18.06 | 0.49 | 4.26 | 6.52 | 7.19 | 47.94 | 8.94 | 112.58 | -4.0 | 10.58 | 92.82 | -7.98 | 2.5 | 7.18 | 933.15 | -23.99 | 3.82 | 11.7 | -7.28 |
| 20Q1 (5) | 9.32 | -13.06 | -8.9 | 4.62 | -17.06 | -0.65 | 4.60 | -22.56 | -9.63 | 3.62 | -22.32 | -11.27 | 3.72 | -22.82 | -1.85 | 1.74 | -23.35 | -13.0 | 0.47 | -4.08 | -4.08 | 4.86 | -21.61 | -8.99 | 117.27 | 1.65 | 43.17 | 100.86 | 7.54 | 10.12 | -0.86 | -113.89 | -110.25 | 3.42 | -19.15 | -10.94 |
| 19Q4 (4) | 10.72 | 23.22 | 0.0 | 5.57 | 155.5 | 0.0 | 5.94 | 119.19 | 0.0 | 4.66 | 114.75 | 0.0 | 4.82 | 109.57 | 0.0 | 2.27 | 100.88 | 0.0 | 0.49 | -3.92 | 0.0 | 6.20 | 108.05 | 0.0 | 115.37 | 4.8 | 0.0 | 93.79 | 17.24 | 0.0 | 6.21 | -68.97 | 0.0 | 4.23 | 14.63 | 0.0 |
| 19Q3 (3) | 8.70 | -18.39 | 0.0 | 2.18 | -62.02 | 0.0 | 2.71 | -57.26 | 0.0 | 2.17 | -55.89 | 0.0 | 2.30 | -47.0 | 0.0 | 1.13 | -50.22 | 0.0 | 0.51 | 10.87 | 0.0 | 2.98 | -54.85 | 0.0 | 110.09 | 8.13 | 0.0 | 80.00 | -11.65 | 0.0 | 20.00 | 111.67 | 0.0 | 3.69 | -10.44 | 0.0 |
| 19Q2 (2) | 10.66 | 4.2 | 0.0 | 5.74 | 23.44 | 0.0 | 6.34 | 24.56 | 0.0 | 4.92 | 20.59 | 0.0 | 4.34 | 14.51 | 0.0 | 2.27 | 13.5 | 0.0 | 0.46 | -6.12 | 0.0 | 6.60 | 23.6 | 0.0 | 101.81 | 24.29 | 0.0 | 90.55 | -1.13 | 0.0 | 9.45 | 12.34 | 0.0 | 4.12 | 7.29 | 0.0 |
| 19Q1 (1) | 10.23 | 0.0 | 0.0 | 4.65 | 0.0 | 0.0 | 5.09 | 0.0 | 0.0 | 4.08 | 0.0 | 0.0 | 3.79 | 0.0 | 0.0 | 2.00 | 0.0 | 0.0 | 0.49 | 0.0 | 0.0 | 5.34 | 0.0 | 0.0 | 81.91 | 0.0 | 0.0 | 91.59 | 0.0 | 0.0 | 8.41 | 0.0 | 0.0 | 3.84 | 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) | 11.80 | 0.94 | 5.68 | 1.97 | 0.24 | -2.81 | 6.20 | 3.51 | 5.04 | 4.78 | 16.95 | 9.71 | 8.77 | 12.15 | 1.74 | 7.41 | 6.47 | 3.19 | 86.14 | -14.89 | 91.66 | -1.5 | 8.34 | 20.11 | 0.04 | -24.66 | 4.43 | 8.31 |
| 2022 (9) | 11.69 | 16.2 | 5.57 | 14.61 | 0.25 | 29.45 | 5.99 | 14.53 | 4.81 | 15.62 | 15.45 | -4.69 | 7.82 | -4.4 | 1.62 | -17.35 | 6.27 | 15.05 | 101.21 | 6.95 | 93.05 | 0.04 | 6.95 | -0.54 | 0.05 | 91.54 | 4.09 | 7.63 |
| 2021 (8) | 10.06 | -5.45 | 4.86 | -5.26 | 0.19 | -17.0 | 5.23 | -7.1 | 4.16 | -7.14 | 16.21 | -6.25 | 8.18 | -1.09 | 1.96 | 6.52 | 5.45 | -7.63 | 94.63 | -9.86 | 93.02 | 2.04 | 6.98 | -21.04 | 0.03 | 42.57 | 3.80 | -5.0 |
| 2020 (7) | 10.64 | 5.87 | 5.13 | 14.51 | 0.23 | 4.25 | 5.63 | 13.28 | 4.48 | 14.29 | 17.29 | 14.66 | 8.27 | 13.44 | 1.84 | -0.54 | 5.90 | 12.81 | 104.98 | -9.01 | 91.16 | 0.95 | 8.84 | -8.88 | 0.02 | -4.51 | 4.00 | 0.76 |
| 2019 (6) | 10.05 | -2.05 | 4.48 | 6.16 | 0.22 | 24.27 | 4.97 | 4.85 | 3.92 | 3.43 | 15.08 | 28.56 | 7.29 | 15.71 | 1.85 | 11.45 | 5.23 | 6.09 | 115.37 | 16.18 | 90.29 | 1.22 | 9.71 | -10.07 | 0.02 | -15.9 | 3.97 | -7.24 |
| 2018 (5) | 10.26 | 4.06 | 4.22 | 7.38 | 0.18 | 34.68 | 4.74 | 15.61 | 3.79 | 15.9 | 11.73 | 23.73 | 6.30 | 14.13 | 1.66 | -1.78 | 4.93 | 15.73 | 99.30 | 36.25 | 89.21 | -7.0 | 10.79 | 164.44 | 0.02 | 0 | 4.28 | 7.0 |
| 2017 (4) | 9.86 | 1.02 | 3.93 | -9.66 | 0.13 | -0.6 | 4.10 | -8.48 | 3.27 | -13.95 | 9.48 | -17.49 | 5.52 | -18.46 | 1.69 | -4.52 | 4.26 | -8.78 | 72.88 | 2.27 | 95.92 | -1.11 | 4.08 | 35.71 | 0.00 | 0 | 4.00 | 4.44 |
| 2016 (3) | 9.76 | -2.2 | 4.35 | 13.58 | 0.13 | -8.9 | 4.48 | 8.47 | 3.80 | 13.1 | 11.49 | 4.84 | 6.77 | 20.04 | 1.77 | 7.93 | 4.67 | 5.66 | 71.26 | 2.24 | 96.99 | 4.49 | 3.01 | -58.08 | 0.00 | 0 | 3.83 | -9.03 |
| 2015 (2) | 9.98 | 13.54 | 3.83 | 43.45 | 0.15 | 5.13 | 4.13 | 52.4 | 3.36 | 50.0 | 10.96 | 35.31 | 5.64 | 50.0 | 1.64 | 4.46 | 4.42 | 42.58 | 69.70 | -50.4 | 92.83 | -5.07 | 7.17 | 384.3 | 0.00 | 0 | 4.21 | 11.08 |
| 2014 (1) | 8.79 | 0 | 2.67 | 0 | 0.14 | -44.86 | 2.71 | 0 | 2.24 | 0 | 8.10 | 0 | 3.76 | 0 | 1.57 | -1.88 | 3.10 | 13.97 | 140.53 | 16.91 | 97.78 | 12.73 | 1.48 | -88.83 | 0.00 | 0 | 3.79 | -21.21 |
