- 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) | 14.79 | -6.27 | -6.81 | 3.18 | -29.96 | 8.53 | 7.72 | -7.54 | 73.87 | 5.01 | -19.58 | 58.54 | 1.03 | -23.7 | 77.59 | 0.81 | -24.3 | 72.34 | 0.16 | -5.88 | 6.67 | 11.40 | -3.23 | 29.25 | 28.32 | 0.64 | 6.99 | 40.48 | -26.83 | -39.29 | 59.52 | 27.16 | 78.57 | 33.81 | 3.3 | 4.8 |
| 23Q3 (19) | 15.78 | -2.89 | -10.19 | 4.54 | 11.55 | -30.26 | 8.35 | -17.9 | 1.71 | 6.23 | -16.15 | -1.27 | 1.35 | -7.53 | 1.5 | 1.07 | -8.55 | 3.88 | 0.17 | 6.25 | 6.25 | 11.78 | -16.04 | -2.24 | 28.14 | 7.9 | -1.4 | 55.32 | 36.98 | -30.46 | 46.81 | -21.48 | 128.84 | 32.73 | 3.12 | 5.96 |
| 23Q2 (18) | 16.25 | -1.69 | -3.5 | 4.07 | 12.12 | -32.73 | 10.17 | 64.03 | 32.94 | 7.43 | 81.66 | 28.77 | 1.46 | 97.3 | 14.06 | 1.17 | 98.31 | 17.0 | 0.16 | 14.29 | -5.88 | 14.03 | 30.75 | 18.1 | 26.08 | 5.54 | -15.76 | 40.38 | -31.11 | -48.6 | 59.62 | 44.07 | 178.21 | 31.74 | -3.79 | 7.37 |
| 23Q1 (17) | 16.53 | 4.16 | 6.37 | 3.63 | 23.89 | -4.22 | 6.20 | 39.64 | 4.2 | 4.09 | 29.43 | -4.44 | 0.74 | 27.59 | -10.84 | 0.59 | 25.53 | -10.61 | 0.14 | -6.67 | -6.67 | 10.73 | 21.66 | -1.11 | 24.71 | -6.65 | -12.53 | 58.62 | -12.07 | -8.81 | 41.38 | 24.14 | 15.86 | 32.99 | 2.26 | 5.5 |
| 22Q4 (16) | 15.87 | -9.68 | 2.12 | 2.93 | -54.99 | -20.81 | 4.44 | -45.92 | -25.75 | 3.16 | -49.92 | -24.76 | 0.58 | -56.39 | -32.56 | 0.47 | -54.37 | -30.88 | 0.15 | -6.25 | -6.25 | 8.82 | -26.8 | -17.72 | 26.47 | -7.25 | -8.38 | 66.67 | -16.19 | 7.41 | 33.33 | 62.96 | -12.12 | 32.26 | 4.44 | 6.5 |
| 22Q3 (15) | 17.57 | 4.33 | 10.02 | 6.51 | 7.6 | 95.5 | 8.21 | 7.32 | 77.32 | 6.31 | 9.36 | 108.25 | 1.33 | 3.91 | 129.31 | 1.03 | 3.0 | 114.58 | 0.16 | -5.88 | 6.67 | 12.05 | 1.43 | 26.98 | 28.54 | -7.82 | 1.42 | 79.55 | 1.24 | 11.36 | 20.45 | -4.55 | -28.41 | 30.89 | 4.5 | -7.1 |
| 22Q2 (14) | 16.84 | 8.37 | 7.74 | 6.05 | 59.63 | 166.52 | 7.65 | 28.57 | 78.32 | 5.77 | 34.81 | 71.73 | 1.28 | 54.22 | 120.69 | 1.00 | 51.52 | 108.33 | 0.17 | 13.33 | 21.43 | 11.88 | 9.49 | 24.01 | 30.96 | 9.59 | 19.68 | 78.57 | 22.22 | 48.41 | 21.43 | -40.0 | -54.46 | 29.56 | -5.47 | -15.66 |
| 22Q1 (13) | 15.54 | 0.0 | -2.14 | 3.79 | 2.43 | 18.81 | 5.95 | -0.5 | 27.68 | 4.28 | 1.9 | 43.14 | 0.83 | -3.49 | 31.75 | 0.66 | -2.94 | 32.0 | 0.15 | -6.25 | -6.25 | 10.85 | 1.21 | 18.84 | 28.25 | -2.22 | 0.71 | 64.29 | 3.57 | -5.71 | 35.71 | -5.84 | 12.24 | 31.27 | 3.24 | -6.29 |
| 21Q4 (12) | 15.54 | -2.69 | -3.36 | 3.70 | 11.11 | -32.73 | 5.98 | 29.16 | -30.95 | 4.20 | 38.61 | -25.93 | 0.86 | 48.28 | -39.86 | 0.68 | 41.67 | -37.61 | 0.16 | 6.67 | -15.79 | 10.72 | 12.96 | -11.55 | 28.89 | 2.67 | -23.27 | 62.07 | -13.1 | -1.55 | 37.93 | 32.76 | 2.64 | 30.29 | -8.9 | 1.54 |
| 21Q3 (11) | 15.97 | 2.18 | -21.48 | 3.33 | 46.7 | -2.35 | 4.63 | 7.93 | 2.66 | 3.03 | -9.82 | 3.41 | 0.58 | 0.0 | -9.38 | 0.48 | 0.0 | -2.04 | 0.15 | 7.14 | -11.76 | 9.49 | -0.94 | 22.61 | 28.14 | 8.77 | -9.6 | 71.43 | 34.92 | -4.76 | 28.57 | -39.29 | 14.29 | 33.25 | -5.14 | 4.0 |
| 21Q2 (10) | 15.63 | -1.57 | 66.1 | 2.27 | -28.84 | 114.53 | 4.29 | -7.94 | 215.63 | 3.36 | 12.37 | 223.53 | 0.58 | -7.94 | 241.46 | 0.48 | -4.0 | 260.0 | 0.14 | -12.5 | 27.27 | 9.58 | 4.93 | 908.42 | 25.87 | -7.77 | -17.43 | 52.94 | -22.35 | -87.03 | 47.06 | 47.9 | 114.86 | 35.05 | 5.03 | -32.51 |
| 21Q1 (9) | 15.88 | -1.24 | 264.56 | 3.19 | -42.0 | 107.96 | 4.66 | -46.19 | 105.68 | 2.99 | -47.27 | 103.27 | 0.63 | -55.94 | 103.64 | 0.50 | -54.13 | 103.9 | 0.16 | -15.79 | 14.29 | 9.13 | -24.67 | 112.46 | 28.05 | -25.5 | -25.79 | 68.18 | 8.15 | 39.46 | 31.82 | -13.9 | -37.75 | 33.37 | 11.87 | -53.43 |
| 20Q4 (8) | 16.08 | -20.94 | -11.99 | 5.50 | 61.29 | 264.24 | 8.66 | 92.02 | 153.22 | 5.67 | 93.52 | 227.75 | 1.43 | 123.44 | 257.5 | 1.09 | 122.45 | 251.61 | 0.19 | 11.76 | 11.76 | 12.12 | 56.59 | 17.56 | 37.65 | 20.94 | 15.14 | 63.04 | -15.94 | 40.1 | 36.96 | 47.83 | -32.81 | 29.83 | -6.69 | -11.27 |
| 20Q3 (7) | 20.34 | 116.15 | 23.72 | 3.41 | 121.83 | 965.62 | 4.51 | 221.56 | 24.24 | 2.93 | 207.72 | 17.67 | 0.64 | 256.1 | 23.08 | 0.49 | 263.33 | 16.67 | 0.17 | 54.55 | 6.25 | 7.74 | 714.74 | -21.18 | 31.13 | -0.64 | -7.68 | 75.00 | -81.63 | 800.0 | 25.00 | 107.89 | -72.73 | 31.97 | -38.44 | -33.38 |
| 20Q2 (6) | 9.41 | 197.51 | -16.28 | -15.62 | 61.03 | -15.79 | -3.71 | 95.48 | 53.8 | -2.72 | 97.03 | 71.25 | -0.41 | 97.63 | 67.72 | -0.30 | 97.66 | 70.0 | 0.11 | -21.43 | 0.0 | 0.95 | 101.3 | 375.0 | 31.33 | -17.12 | 38.57 | 408.33 | 735.23 | 146.2 | -316.67 | -719.57 | -363.69 | 51.93 | -27.53 | 78.95 |
| 20Q1 (5) | -9.65 | -152.82 | -170.18 | -40.08 | -2754.3 | -685.88 | -82.09 | -2500.29 | -23354.29 | -91.47 | -5387.28 | -5581.37 | -17.32 | -4430.0 | -7116.67 | -12.81 | -4232.26 | -7435.29 | 0.14 | -17.65 | 16.67 | -73.29 | -810.86 | -1119.33 | 37.80 | 15.6 | 46.28 | 48.89 | 8.64 | -96.51 | 51.11 | -7.07 | 103.93 | 71.66 | 113.15 | 99.5 |
| 19Q4 (4) | 18.27 | 11.13 | 0.0 | 1.51 | 371.87 | 0.0 | 3.42 | -5.79 | 0.0 | 1.73 | -30.52 | 0.0 | 0.40 | -23.08 | 0.0 | 0.31 | -26.19 | 0.0 | 0.17 | 6.25 | 0.0 | 10.31 | 4.99 | 0.0 | 32.70 | -3.02 | 0.0 | 45.00 | 440.0 | 0.0 | 55.00 | -40.0 | 0.0 | 33.62 | -29.94 | 0.0 |
| 19Q3 (3) | 16.44 | 46.26 | 0.0 | 0.32 | 102.37 | 0.0 | 3.63 | 145.21 | 0.0 | 2.49 | 126.32 | 0.0 | 0.52 | 140.94 | 0.0 | 0.42 | 142.0 | 0.0 | 0.16 | 45.45 | 0.0 | 9.82 | 4810.0 | 0.0 | 33.72 | 49.14 | 0.0 | 8.33 | -94.98 | 0.0 | 91.67 | 234.23 | 0.0 | 47.99 | 65.37 | 0.0 |
| 19Q2 (2) | 11.24 | -18.25 | 0.0 | -13.49 | -164.51 | 0.0 | -8.03 | -2194.29 | 0.0 | -9.46 | -487.58 | 0.0 | -1.27 | -429.17 | 0.0 | -1.00 | -488.24 | 0.0 | 0.11 | -8.33 | 0.0 | 0.20 | -97.22 | 0.0 | 22.61 | -12.5 | 0.0 | 165.85 | -88.15 | 0.0 | -68.29 | 94.75 | 0.0 | 29.02 | -19.21 | 0.0 |
| 19Q1 (1) | 13.75 | 0.0 | 0.0 | -5.10 | 0.0 | 0.0 | -0.35 | 0.0 | 0.0 | -1.61 | 0.0 | 0.0 | -0.24 | 0.0 | 0.0 | -0.17 | 0.0 | 0.0 | 0.12 | 0.0 | 0.0 | 7.19 | 0.0 | 0.0 | 25.84 | 0.0 | 0.0 | 1400.00 | 0.0 | 0.0 | -1300.00 | 0.0 | 0.0 | 35.92 | 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) | 15.80 | -4.24 | 3.87 | -21.18 | 3.60 | -10.03 | 8.15 | 22.56 | 5.72 | 15.56 | 4.60 | 13.86 | 3.62 | 12.77 | 0.63 | -1.56 | 12.00 | 9.49 | 28.32 | 6.99 | 47.65 | -35.03 | 52.35 | 101.93 | 0.12 | -44.56 | 32.83 | 6.11 |
| 2022 (9) | 16.50 | 4.76 | 4.91 | 55.38 | 4.00 | -10.32 | 6.65 | 35.16 | 4.95 | 45.59 | 4.04 | 46.38 | 3.21 | 48.61 | 0.64 | 4.92 | 10.96 | 12.41 | 26.47 | -8.38 | 73.33 | 14.5 | 25.93 | -27.89 | 0.21 | -17.25 | 30.94 | -5.93 |
| 2021 (8) | 15.75 | 66.14 | 3.16 | 0 | 4.46 | -6.82 | 4.92 | 0 | 3.40 | 0 | 2.76 | 0 | 2.16 | 0 | 0.61 | 8.93 | 9.75 | 0 | 28.89 | -23.27 | 64.04 | 8.52 | 35.96 | -12.27 | 0.26 | 647.81 | 32.89 | -26.88 |
| 2020 (7) | 9.48 | -37.26 | -10.41 | 0 | 4.79 | -30.0 | -17.61 | 0 | -21.12 | 0 | -15.88 | 0 | -11.73 | 0 | 0.56 | -1.75 | -12.63 | 0 | 37.65 | 15.14 | 59.02 | 0 | 40.98 | -99.53 | 0.03 | -41.93 | 44.98 | 20.78 |
| 2019 (6) | 15.11 | 18.42 | -3.73 | 0 | 6.84 | 72.95 | 0.05 | -97.38 | -1.33 | 0 | -0.97 | 0 | -0.68 | 0 | 0.57 | 21.28 | 7.19 | 20.84 | 32.70 | 25.53 | -8600.00 | 0 | 8700.00 | 1808.67 | 0.06 | -5.45 | 37.24 | -8.73 |
| 2018 (5) | 12.76 | -4.06 | -6.81 | 0 | 3.95 | -33.08 | 1.91 | 0 | -1.50 | 0 | -0.89 | 0 | -0.70 | 0 | 0.47 | 14.63 | 5.95 | 126.24 | 26.05 | -6.7 | -355.81 | 0 | 455.81 | 0 | 0.06 | 0 | 40.80 | 7.71 |
| 2017 (4) | 13.30 | 23.38 | -5.56 | 0 | 5.91 | -18.45 | -3.89 | 0 | -3.59 | 0 | -2.12 | 0 | -1.30 | 0 | 0.41 | 17.14 | 2.63 | -10.24 | 27.92 | -54.11 | 142.70 | -4.14 | -42.70 | 0 | 0.00 | 0 | 37.88 | -2.77 |
| 2016 (3) | 10.78 | -33.29 | -8.15 | 0 | 7.24 | 23.54 | -5.50 | 0 | -4.89 | 0 | -2.80 | 0 | -1.42 | 0 | 0.35 | -22.22 | 2.93 | -75.09 | 60.84 | -11.0 | 148.85 | 581.6 | -48.09 | 0 | 0.00 | 0 | 38.96 | 16.79 |
| 2015 (2) | 16.16 | 207.22 | 1.06 | 0 | 5.86 | -29.02 | 4.93 | 0 | 2.87 | 0 | 2.20 | 0 | 1.56 | 0 | 0.45 | -8.16 | 11.76 | 0 | 68.36 | -0.75 | 21.84 | -54.98 | 78.16 | 51.8 | 0.00 | 0 | 33.36 | -19.46 |
| 2014 (1) | 5.26 | 0 | -15.55 | 0 | 8.26 | 46.92 | -32.05 | 0 | -31.14 | 0 | -25.35 | 0 | -15.16 | 0 | 0.49 | -25.76 | -22.76 | 0 | 68.88 | 12.27 | 48.51 | -11.8 | 51.49 | 14.42 | 0.00 | 0 | 41.42 | 31.83 |
