- 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) | 22.52 | -5.18 | 1.76 | -2.82 | -203.23 | -266.23 | -1.95 | -324.14 | 43.15 | -1.50 | -272.41 | 78.23 | -0.50 | -256.25 | 84.18 | -0.07 | -118.92 | 94.74 | 0.18 | -5.26 | -18.18 | 9.95 | -17.7 | 109.47 | 84.87 | -7.42 | -16.49 | 137.50 | 237.5 | 450.0 | -37.50 | -118.75 | -146.88 | 28.70 | 6.3 | 20.39 |
| 23Q3 (19) | 23.75 | 90.46 | 55.03 | -0.93 | 95.57 | 40.0 | 0.87 | 106.31 | -75.97 | 0.87 | 106.45 | -75.97 | 0.32 | 109.14 | -84.54 | 0.37 | 122.42 | -68.38 | 0.19 | 35.71 | -29.63 | 12.09 | 513.71 | 21.88 | 91.67 | 1.02 | -18.07 | -100.00 | -165.62 | -145.45 | 200.00 | 481.82 | 42.11 | 27.00 | -17.96 | 24.31 |
| 23Q2 (18) | 12.47 | -27.75 | 2.47 | -20.97 | -135.35 | -633.22 | -13.78 | -12.67 | -810.31 | -13.48 | -10.22 | -805.76 | -3.50 | 3.05 | -407.02 | -1.65 | 0.0 | -322.97 | 0.14 | -6.67 | -51.72 | 1.97 | 79.09 | -74.65 | 90.74 | 5.44 | -19.16 | 152.38 | 109.52 | 201.59 | -52.38 | -292.06 | -120.37 | 32.91 | 18.3 | 60.93 |
| 23Q1 (17) | 17.26 | -22.01 | 115.48 | -8.91 | -1057.14 | 26.79 | -12.23 | -256.56 | 11.05 | -12.23 | -77.5 | 11.05 | -3.61 | -14.24 | 32.27 | -1.65 | -24.06 | 33.73 | 0.15 | -31.82 | -21.05 | 1.10 | -76.84 | 119.2 | 86.06 | -15.32 | -9.9 | 72.73 | 190.91 | -17.41 | 27.27 | -65.91 | 128.41 | 27.82 | 16.69 | 4.0 |
| 22Q4 (16) | 22.13 | 44.45 | 152.34 | -0.77 | 50.32 | 89.08 | -3.43 | -194.75 | 68.18 | -6.89 | -290.33 | 37.87 | -3.16 | -252.66 | 48.53 | -1.33 | -213.68 | 51.64 | 0.22 | -18.52 | -18.52 | 4.75 | -52.12 | 186.05 | 101.63 | -9.17 | -1.89 | 25.00 | 161.36 | -61.76 | 80.00 | -43.16 | 131.11 | 23.84 | 9.76 | 19.86 |
| 22Q3 (15) | 15.32 | 25.88 | 108.15 | -1.55 | 45.8 | 63.27 | 3.62 | 86.6 | 213.48 | 3.62 | 89.53 | 213.12 | 2.07 | 81.58 | 192.83 | 1.17 | 58.11 | 232.95 | 0.27 | -6.9 | -18.18 | 9.92 | 27.67 | 1474.6 | 111.89 | -0.32 | -1.81 | -40.74 | 72.84 | -131.57 | 140.74 | -45.27 | 536.3 | 21.72 | 6.21 | 16.71 |
| 22Q2 (14) | 12.17 | 51.94 | 12.79 | -2.86 | 76.5 | -91.95 | 1.94 | 114.11 | 235.66 | 1.91 | 113.89 | 231.72 | 1.14 | 121.39 | 226.67 | 0.74 | 129.72 | 289.74 | 0.29 | 52.63 | -12.12 | 7.77 | 235.6 | 354.39 | 112.25 | 17.51 | 7.86 | -150.00 | -270.34 | -250.0 | 257.14 | 2053.57 | 0 | 20.45 | -23.55 | 1.14 |
| 22Q1 (13) | 8.01 | -8.67 | -10.8 | -12.17 | -72.62 | -39.24 | -13.75 | -27.55 | -113.84 | -13.75 | -23.99 | -151.83 | -5.33 | 13.19 | -123.01 | -2.49 | 9.45 | -90.08 | 0.19 | -29.63 | -26.92 | -5.73 | -3.8 | -141.77 | 95.52 | -7.79 | 32.83 | 88.06 | 34.68 | -34.36 | 11.94 | -65.51 | 132.64 | 26.75 | 34.49 | 8.34 |
| 21Q4 (12) | 8.77 | 19.16 | -41.69 | -7.05 | -67.06 | -350.0 | -10.78 | -237.93 | -452.29 | -11.09 | -246.56 | -657.29 | -6.14 | -175.34 | -679.25 | -2.75 | -212.5 | -498.55 | 0.27 | -18.18 | -15.62 | -5.52 | -976.19 | -192.15 | 103.59 | -9.09 | 52.59 | 65.38 | -49.33 | -31.64 | 34.62 | 207.31 | 298.08 | 19.89 | 6.88 | -3.49 |
| 21Q3 (11) | 7.36 | -31.79 | -58.56 | -4.22 | -183.22 | -167.52 | -3.19 | -123.08 | -186.68 | -3.20 | -120.69 | -433.33 | -2.23 | -147.78 | -226.7 | -0.88 | -125.64 | -176.52 | 0.33 | 0.0 | -2.94 | 0.63 | -63.16 | -90.44 | 113.95 | 9.49 | 83.35 | 129.03 | 29.03 | -25.88 | -32.26 | 0 | 54.16 | 18.61 | -7.96 | 5.2 |
| 21Q2 (10) | 10.79 | 20.16 | -42.11 | -1.49 | 82.95 | -130.72 | -1.43 | 77.76 | -121.09 | -1.45 | 73.44 | -120.57 | -0.90 | 62.34 | -126.47 | -0.39 | 70.23 | -116.32 | 0.33 | 26.92 | -2.94 | 1.71 | 172.15 | -82.97 | 104.07 | 44.72 | 120.58 | 100.00 | -25.45 | 42.42 | -0.00 | 100.0 | -100.0 | 20.22 | -18.1 | 0 |
| 21Q1 (9) | 8.98 | -40.29 | -1.54 | -8.74 | -409.93 | 55.04 | -6.43 | -310.13 | 58.33 | -5.46 | -374.37 | 64.64 | -2.39 | -325.47 | 27.79 | -1.31 | -289.86 | 42.79 | 0.26 | -18.75 | 73.33 | -2.37 | -139.57 | 70.34 | 71.91 | 5.92 | 81.82 | 134.15 | 40.24 | 5.56 | -36.59 | -520.73 | -35.08 | 24.69 | 19.8 | -27.74 |
| 20Q4 (8) | 15.04 | -15.32 | -22.03 | 2.82 | -54.88 | -23.99 | 3.06 | -16.85 | 401.64 | 1.99 | 107.29 | 1095.0 | 1.06 | -39.77 | 1277.78 | 0.69 | -40.0 | 1825.0 | 0.32 | -5.88 | 3.23 | 5.99 | -9.1 | 49.38 | 67.89 | 9.24 | 44.35 | 95.65 | -45.05 | -85.28 | 8.70 | 112.36 | 101.58 | 20.61 | 16.51 | 1.23 |
| 20Q3 (7) | 17.76 | -4.72 | 1.83 | 6.25 | 28.87 | 56.25 | 3.68 | -45.72 | 1043.59 | 0.96 | -86.38 | 346.15 | 1.76 | -48.24 | 1077.78 | 1.15 | -51.88 | 1537.5 | 0.34 | 0.0 | 17.24 | 6.59 | -34.36 | 118.94 | 62.15 | 31.73 | 13.95 | 174.07 | 147.92 | 118.65 | -70.37 | -354.42 | -106.81 | 17.69 | 0 | -10.79 |
| 20Q2 (6) | 18.64 | 104.39 | 0.0 | 4.85 | 124.95 | 5.9 | 6.78 | 143.94 | 18.32 | 7.05 | 145.66 | 36.1 | 3.40 | 202.72 | 26.39 | 2.39 | 204.37 | 33.52 | 0.34 | 126.67 | 0.0 | 10.04 | 225.66 | 16.88 | 47.18 | 19.29 | -18.1 | 70.21 | -44.75 | -13.16 | 27.66 | 202.13 | 30.0 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 9.12 | -52.72 | -41.8 | -19.44 | -623.99 | -1683.49 | -15.43 | -2629.51 | -601.36 | -15.44 | -7620.0 | -618.14 | -3.31 | -3577.78 | -324.36 | -2.29 | -5625.0 | -358.0 | 0.15 | -51.61 | -37.5 | -7.99 | -299.25 | -622.22 | 39.55 | -15.9 | -17.84 | 127.08 | -80.45 | 175.35 | -27.08 | 95.08 | -150.3 | 34.17 | 67.83 | 41.84 |
| 19Q4 (4) | 19.29 | 10.61 | 0.0 | 3.71 | -7.25 | 0.0 | 0.61 | 256.41 | 0.0 | -0.20 | 48.72 | 0.0 | -0.09 | 50.0 | 0.0 | -0.04 | 50.0 | 0.0 | 0.31 | 6.9 | 0.0 | 4.01 | 33.22 | 0.0 | 47.03 | -13.77 | 0.0 | 650.00 | 169.64 | 0.0 | -550.00 | -153.23 | 0.0 | 20.36 | 2.67 | 0.0 |
| 19Q3 (3) | 17.44 | -6.44 | 0.0 | 4.00 | -12.66 | 0.0 | -0.39 | -106.81 | 0.0 | -0.39 | -107.53 | 0.0 | -0.18 | -106.69 | 0.0 | -0.08 | -104.47 | 0.0 | 0.29 | -14.71 | 0.0 | 3.01 | -64.96 | 0.0 | 54.54 | -5.33 | 0.0 | -933.33 | -1254.39 | 0.0 | 1033.33 | 4756.67 | 0.0 | 19.83 | 7.42 | 0.0 |
| 19Q2 (2) | 18.64 | 18.95 | 0.0 | 4.58 | 520.18 | 0.0 | 5.73 | 360.45 | 0.0 | 5.18 | 340.93 | 0.0 | 2.69 | 444.87 | 0.0 | 1.79 | 458.0 | 0.0 | 0.34 | 41.67 | 0.0 | 8.59 | 461.44 | 0.0 | 57.61 | 19.67 | 0.0 | 80.85 | 75.18 | 0.0 | 21.28 | -60.49 | 0.0 | 18.46 | -23.37 | 0.0 |
| 19Q1 (1) | 15.67 | 0.0 | 0.0 | -1.09 | 0.0 | 0.0 | -2.20 | 0.0 | 0.0 | -2.15 | 0.0 | 0.0 | -0.78 | 0.0 | 0.0 | -0.50 | 0.0 | 0.0 | 0.24 | 0.0 | 0.0 | 1.53 | 0.0 | 0.0 | 48.14 | 0.0 | 0.0 | 46.15 | 0.0 | 0.0 | 53.85 | 0.0 | 0.0 | 24.09 | 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) | 19.53 | 34.04 | -7.48 | 0 | 11.07 | 91.47 | -6.07 | 0 | -5.89 | 0 | -7.33 | 0 | -2.99 | 0 | 0.64 | -36.0 | 6.71 | 32.09 | 84.87 | -16.49 | 123.33 | -41.51 | -23.33 | 0 | 0.00 | 0 | 28.86 | 26.58 |
| 2022 (9) | 14.57 | 62.79 | -3.78 | 0 | 5.78 | 69.47 | -1.81 | 0 | -2.61 | 0 | -5.30 | 0 | -1.84 | 0 | 1.00 | -20.63 | 5.08 | 0 | 101.63 | -1.89 | 210.87 | 113.51 | -108.70 | 0 | 0.00 | 0 | 22.80 | 10.95 |
| 2021 (8) | 8.95 | -44.38 | -5.01 | 0 | 3.41 | 0.85 | -5.07 | 0 | -4.96 | 0 | -11.55 | 0 | -5.66 | 0 | 1.26 | 16.67 | -1.06 | 0 | 103.59 | 52.59 | 98.77 | 18.04 | 1.23 | -92.44 | 0.00 | 0 | 20.55 | -5.08 |
| 2020 (7) | 16.09 | -10.01 | 1.62 | -46.53 | 3.38 | 9.41 | 1.96 | 53.12 | 0.89 | -4.3 | 2.74 | 63.1 | 1.84 | 49.59 | 1.08 | -10.74 | 5.49 | 19.61 | 67.89 | 44.35 | 83.67 | -64.56 | 16.33 | 0 | 0.00 | 0 | 21.65 | 5.87 |
| 2019 (6) | 17.88 | 18.25 | 3.03 | 52.26 | 3.09 | 70.43 | 1.28 | -63.74 | 0.93 | -70.57 | 1.68 | -73.33 | 1.23 | -70.71 | 1.21 | -9.02 | 4.59 | -17.59 | 47.03 | -9.58 | 236.11 | 322.72 | -136.11 | 0 | 0.00 | 0 | 20.45 | -1.97 |
| 2018 (5) | 15.12 | -7.75 | 1.99 | 7.57 | 1.81 | -24.81 | 3.53 | 606.0 | 3.16 | 3850.0 | 6.30 | 4400.0 | 4.20 | 3400.0 | 1.33 | 13.68 | 5.57 | 80.84 | 52.01 | 9.75 | 55.86 | -85.25 | 43.24 | 0 | 0.00 | 0 | 20.86 | -3.74 |
| 2017 (4) | 16.39 | -13.69 | 1.85 | -48.47 | 2.41 | -17.83 | 0.50 | -90.02 | 0.08 | -98.22 | 0.14 | -98.05 | 0.12 | -97.6 | 1.17 | 5.41 | 3.08 | -61.93 | 47.39 | 3.18 | 378.57 | 427.82 | -278.57 | 0 | 0.00 | 0 | 21.67 | -3.69 |
| 2016 (3) | 18.99 | 12.83 | 3.59 | 5028.57 | 2.94 | -15.73 | 5.01 | 902.0 | 4.49 | 1182.86 | 7.18 | 1336.0 | 5.00 | 1328.57 | 1.11 | 9.9 | 8.09 | 98.28 | 45.93 | 10.78 | 71.72 | 402.07 | 28.28 | -67.01 | 0.00 | 0 | 22.50 | -4.46 |
| 2015 (2) | 16.83 | 4.73 | 0.07 | 16.67 | 3.49 | 15.49 | 0.50 | -73.68 | 0.35 | -75.0 | 0.50 | -77.78 | 0.35 | -77.71 | 1.01 | -9.82 | 4.08 | -21.39 | 41.46 | -10.9 | 14.29 | 300.0 | 85.71 | -11.11 | 0.00 | 0 | 23.55 | 7.0 |
| 2014 (1) | 16.07 | 0 | 0.06 | 0 | 3.02 | -22.95 | 1.90 | 0 | 1.40 | 0 | 2.25 | 0 | 1.57 | 0 | 1.12 | 8.74 | 5.19 | 128.63 | 46.53 | 19.28 | 3.57 | -98.14 | 96.43 | 0 | 0.00 | 0 | 22.01 | -1.96 |
