- 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) | 6.58 | -1.2 | -3.09 | 4.09 | 27.41 | -6.19 | 2.57 | -39.1 | -30.35 | 1.94 | -44.57 | -32.87 | 2.90 | -47.75 | -42.12 | 1.25 | -38.73 | -30.94 | 0.55 | 1.85 | 1.85 | 3.10 | -34.32 | -29.06 | 149.31 | -21.84 | -29.45 | 158.10 | 108.02 | 33.34 | -59.05 | -346.03 | -228.7 | 1.36 | -2.16 | 46.24 |
| 23Q3 (19) | 6.66 | 106.83 | 37.04 | 3.21 | 817.14 | 50.0 | 4.22 | 344.21 | 60.46 | 3.50 | 392.96 | 73.27 | 5.55 | 449.5 | 27.0 | 2.04 | 277.78 | 48.91 | 0.54 | 5.88 | -8.47 | 4.72 | 210.53 | 51.28 | 191.04 | -2.79 | -16.02 | 76.00 | 104.62 | -6.46 | 24.00 | -61.82 | 28.0 | 1.39 | -2.11 | 52.75 |
| 23Q2 (18) | 3.22 | -46.86 | -32.07 | 0.35 | -87.93 | -84.23 | 0.95 | -59.05 | -61.85 | 0.71 | -61.83 | -60.99 | 1.01 | -55.51 | -76.67 | 0.54 | -50.46 | -54.62 | 0.51 | 18.6 | -13.56 | 1.52 | -54.49 | -46.85 | 196.53 | 22.63 | -37.64 | 37.14 | -70.21 | -58.3 | 62.86 | 354.74 | 475.38 | 1.42 | -17.44 | 31.48 |
| 23Q1 (17) | 6.06 | -10.75 | 11.81 | 2.90 | -33.49 | -6.15 | 2.32 | -37.13 | -31.36 | 1.86 | -35.64 | -29.81 | 2.27 | -54.69 | -67.2 | 1.09 | -39.78 | -41.4 | 0.43 | -20.37 | -35.82 | 3.34 | -23.57 | -7.99 | 160.26 | -24.28 | -45.49 | 124.68 | 5.16 | 36.36 | -24.68 | -37.36 | -387.88 | 1.72 | 84.95 | 60.75 |
| 22Q4 (16) | 6.79 | 39.71 | 19.96 | 4.36 | 103.74 | 83.19 | 3.69 | 40.3 | 45.28 | 2.89 | 43.07 | 45.23 | 5.01 | 14.65 | -7.56 | 1.81 | 32.12 | 11.73 | 0.54 | -8.47 | -25.0 | 4.37 | 40.06 | 46.64 | 211.65 | -6.96 | -25.91 | 118.56 | 45.92 | 26.47 | -17.96 | -195.81 | -387.43 | 0.93 | 2.2 | -47.75 |
| 22Q3 (15) | 4.86 | 2.53 | -25.0 | 2.14 | -3.6 | -45.96 | 2.63 | 5.62 | -34.25 | 2.02 | 10.99 | -38.41 | 4.37 | 0.92 | -53.71 | 1.37 | 15.13 | -46.9 | 0.59 | 0.0 | -22.37 | 3.12 | 9.09 | -26.59 | 227.49 | -27.81 | -16.4 | 81.25 | -8.79 | -17.93 | 18.75 | 71.63 | 1765.62 | 0.91 | -15.74 | -22.22 |
| 22Q2 (14) | 4.74 | -12.55 | -20.87 | 2.22 | -28.16 | -31.9 | 2.49 | -26.33 | -18.63 | 1.82 | -31.32 | -26.32 | 4.33 | -37.43 | -40.93 | 1.19 | -36.02 | -40.2 | 0.59 | -11.94 | -24.36 | 2.86 | -21.21 | -13.07 | 315.13 | 7.19 | 11.65 | 89.08 | -2.57 | -16.67 | 10.92 | 27.45 | 258.4 | 1.08 | 0.93 | -6.09 |
| 22Q1 (13) | 5.42 | -4.24 | 10.61 | 3.09 | 29.83 | 69.78 | 3.38 | 33.07 | 69.0 | 2.65 | 33.17 | 66.67 | 6.92 | 27.68 | 60.93 | 1.86 | 14.81 | 53.72 | 0.67 | -6.94 | -6.94 | 3.63 | 21.81 | 61.33 | 293.98 | 2.92 | 6.0 | 91.43 | -2.48 | -0.04 | 8.57 | 37.14 | 0.41 | 1.07 | -39.89 | -19.55 |
| 21Q4 (12) | 5.66 | -12.65 | -2.41 | 2.38 | -39.9 | -19.87 | 2.54 | -36.5 | -8.96 | 1.99 | -39.33 | -10.76 | 5.42 | -42.58 | -8.75 | 1.62 | -37.21 | -4.71 | 0.72 | -5.26 | -1.37 | 2.98 | -29.88 | -2.93 | 285.65 | 4.97 | 5.46 | 93.75 | -5.3 | -11.96 | 6.25 | 521.88 | 196.43 | 1.78 | 52.14 | 26.24 |
| 21Q3 (11) | 6.48 | 8.18 | 35.56 | 3.96 | 21.47 | 70.69 | 4.00 | 30.72 | 82.65 | 3.28 | 32.79 | 102.47 | 9.44 | 28.79 | 124.23 | 2.58 | 29.65 | 104.76 | 0.76 | -2.56 | 2.7 | 4.25 | 29.18 | 73.47 | 272.12 | -3.59 | 6.13 | 98.99 | -7.39 | -5.72 | 1.01 | 114.57 | 116.08 | 1.17 | 1.74 | -7.14 |
| 21Q2 (10) | 5.99 | 22.24 | 29.09 | 3.26 | 79.12 | 136.23 | 3.06 | 53.0 | 185.98 | 2.47 | 55.35 | 187.21 | 7.33 | 70.47 | 279.79 | 1.99 | 64.46 | 206.15 | 0.78 | 8.33 | 16.42 | 3.29 | 46.22 | 131.69 | 282.24 | 1.76 | 16.44 | 106.90 | 16.87 | -17.4 | -6.90 | -180.79 | 76.55 | 1.15 | -13.53 | 0 |
| 21Q1 (9) | 4.90 | -15.52 | 13.69 | 1.82 | -38.72 | 70.09 | 2.00 | -28.32 | 127.27 | 1.59 | -28.7 | 89.29 | 4.30 | -27.61 | 144.32 | 1.21 | -28.82 | 80.6 | 0.72 | -1.37 | 14.29 | 2.25 | -26.71 | 64.23 | 277.35 | 2.4 | 19.21 | 91.46 | -14.1 | -25.69 | 8.54 | 231.71 | 136.99 | 1.33 | -5.67 | 0 |
| 20Q4 (8) | 5.80 | 21.34 | 33.33 | 2.97 | 28.02 | 104.83 | 2.79 | 27.4 | 114.62 | 2.23 | 37.65 | 153.41 | 5.94 | 41.09 | 147.5 | 1.70 | 34.92 | 102.38 | 0.73 | -1.35 | -9.88 | 3.07 | 25.31 | 82.74 | 270.86 | 5.64 | 14.17 | 106.48 | 1.41 | -5.13 | -6.48 | -3.7 | 47.07 | 1.41 | 11.9 | 11.9 |
| 20Q3 (7) | 4.78 | 3.02 | 0.63 | 2.32 | 68.12 | 18.37 | 2.19 | 104.67 | 18.38 | 1.62 | 88.37 | 20.9 | 4.21 | 118.13 | 24.56 | 1.26 | 93.85 | 6.78 | 0.74 | 10.45 | -7.5 | 2.45 | 72.54 | 13.43 | 256.41 | 5.78 | 9.85 | 105.00 | -18.86 | -1.18 | -6.25 | 78.75 | 0.0 | 1.26 | 0 | -10.64 |
| 20Q2 (6) | 4.64 | 7.66 | -11.79 | 1.38 | 28.97 | -36.99 | 1.07 | 21.59 | -50.23 | 0.86 | 2.38 | -49.11 | 1.93 | 9.66 | -47.12 | 0.65 | -2.99 | -53.9 | 0.67 | 6.35 | -11.84 | 1.42 | 3.65 | -42.74 | 242.39 | 4.19 | 24.28 | 129.41 | 5.15 | 27.39 | -29.41 | -27.45 | -1752.94 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 4.31 | -0.92 | -4.86 | 1.07 | -26.21 | -11.57 | 0.88 | -32.31 | -26.67 | 0.84 | -4.55 | -17.65 | 1.76 | -26.67 | -6.38 | 0.67 | -20.24 | -18.29 | 0.63 | -22.22 | -4.55 | 1.37 | -18.45 | -16.97 | 232.65 | -1.94 | 35.49 | 123.08 | 9.65 | 23.08 | -23.08 | -88.46 | 0 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 4.35 | -8.42 | 0.0 | 1.45 | -26.02 | 0.0 | 1.30 | -29.73 | 0.0 | 0.88 | -34.33 | 0.0 | 2.40 | -28.99 | 0.0 | 0.84 | -28.81 | 0.0 | 0.81 | 1.25 | 0.0 | 1.68 | -22.22 | 0.0 | 237.25 | 1.64 | 0.0 | 112.24 | 5.64 | 0.0 | -12.24 | -95.92 | 0.0 | 1.26 | -10.64 | 0.0 |
| 19Q3 (3) | 4.75 | -9.7 | 0.0 | 1.96 | -10.5 | 0.0 | 1.85 | -13.95 | 0.0 | 1.34 | -20.71 | 0.0 | 3.38 | -7.4 | 0.0 | 1.18 | -16.31 | 0.0 | 0.80 | 5.26 | 0.0 | 2.16 | -12.9 | 0.0 | 233.42 | 19.68 | 0.0 | 106.25 | 4.59 | 0.0 | -6.25 | -293.75 | 0.0 | 1.41 | -6.62 | 0.0 |
| 19Q2 (2) | 5.26 | 16.11 | 0.0 | 2.19 | 80.99 | 0.0 | 2.15 | 79.17 | 0.0 | 1.69 | 65.69 | 0.0 | 3.65 | 94.15 | 0.0 | 1.41 | 71.95 | 0.0 | 0.76 | 15.15 | 0.0 | 2.48 | 50.3 | 0.0 | 195.03 | 13.58 | 0.0 | 101.59 | 1.59 | 0.0 | -1.59 | 0 | 0.0 | 1.51 | -13.71 | 0.0 |
| 19Q1 (1) | 4.53 | 0.0 | 0.0 | 1.21 | 0.0 | 0.0 | 1.20 | 0.0 | 0.0 | 1.02 | 0.0 | 0.0 | 1.88 | 0.0 | 0.0 | 0.82 | 0.0 | 0.0 | 0.66 | 0.0 | 0.0 | 1.65 | 0.0 | 0.0 | 171.71 | 0.0 | 0.0 | 100.00 | 0.0 | 0.0 | -0.00 | 0.0 | 0.0 | 1.75 | 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) | 5.67 | 4.42 | 2.68 | -8.53 | 0.14 | 32.67 | 2.57 | -15.74 | 2.05 | -12.77 | 11.65 | -41.55 | 4.96 | -23.34 | 2.03 | -18.15 | 3.21 | -7.76 | 149.31 | -29.45 | 104.34 | 8.39 | -4.34 | 0 | 0.00 | 0 | 1.46 | 46.0 |
| 2022 (9) | 5.43 | -6.22 | 2.93 | 1.03 | 0.11 | -14.73 | 3.05 | 3.74 | 2.35 | -0.42 | 19.93 | -24.34 | 6.47 | -11.85 | 2.48 | -15.65 | 3.48 | 7.41 | 211.65 | -25.91 | 96.26 | -2.32 | 3.74 | 195.61 | 0.00 | 0 | 1.00 | -26.47 |
| 2021 (8) | 5.79 | 17.21 | 2.90 | 44.28 | 0.13 | -30.35 | 2.94 | 62.43 | 2.36 | 63.89 | 26.34 | 92.83 | 7.34 | 75.6 | 2.94 | 10.11 | 3.24 | 50.7 | 285.65 | 5.46 | 98.56 | -11.44 | 1.26 | 0 | 0.00 | 0 | 1.36 | -4.9 |
| 2020 (7) | 4.94 | 4.88 | 2.01 | 17.54 | 0.18 | 16.1 | 1.81 | 11.04 | 1.44 | 18.03 | 13.66 | 20.78 | 4.18 | 1.95 | 2.67 | -10.1 | 2.15 | 8.04 | 270.86 | 14.17 | 111.29 | 6.16 | -10.89 | 0 | 0.00 | 0 | 1.43 | -2.05 |
| 2019 (6) | 4.71 | 3.97 | 1.71 | 15.54 | 0.16 | 414.86 | 1.63 | 13.19 | 1.22 | -13.48 | 11.31 | -0.35 | 4.10 | -6.82 | 2.97 | 6.83 | 1.99 | 18.45 | 237.25 | 27.88 | 104.83 | 2.66 | -5.31 | 0 | 0.00 | 0 | 1.46 | -14.12 |
| 2018 (5) | 4.53 | -2.58 | 1.48 | 184.62 | 0.03 | -12.76 | 1.44 | 0 | 1.41 | 0 | 11.35 | 0 | 4.40 | 0 | 2.78 | 4.91 | 1.68 | 0 | 185.53 | -4.21 | 102.11 | 0 | -2.11 | 0 | 0.00 | 0 | 1.70 | -10.05 |
| 2017 (4) | 4.65 | -26.54 | 0.52 | -61.19 | 0.04 | -2.71 | -2.78 | 0 | -2.57 | 0 | -17.08 | 0 | -6.43 | 0 | 2.65 | 19.91 | -2.57 | 0 | 193.69 | 63.78 | -18.91 | 0 | 118.49 | 0 | 0.00 | 0 | 1.89 | -14.86 |
| 2016 (3) | 6.33 | 71.54 | 1.34 | 0 | 0.04 | -22.68 | 1.12 | 0 | 0.67 | 0 | 3.92 | 0 | 1.83 | 0 | 2.21 | -20.5 | 1.34 | 0 | 118.26 | -45.73 | 119.35 | 31.35 | -19.35 | 0 | 0.00 | 0 | 2.22 | 24.02 |
| 2015 (2) | 3.69 | -0.81 | -2.65 | 0 | 0.05 | 21.92 | -2.91 | 0 | -3.14 | 0 | -29.49 | 0 | -8.16 | 0 | 2.78 | -12.3 | -2.64 | 0 | 217.90 | -14.34 | 90.87 | -22.79 | 9.13 | 0 | 0.00 | 0 | 1.79 | 26.06 |
| 2014 (1) | 3.72 | 0 | 0.84 | 0 | 0.04 | 0.31 | 0.71 | 0 | 0.48 | 0 | 5.13 | 0 | 1.98 | 0 | 3.17 | -19.34 | 0.93 | -25.0 | 254.37 | 13.97 | 117.69 | 23.13 | -17.69 | 0 | 0.00 | 0 | 1.42 | -16.96 |
