- 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) | 7.42 | -39.58 | -66.46 | -4.76 | 42.65 | -163.81 | -13.50 | -13400.0 | -588.78 | -11.27 | -3315.15 | -441.83 | -1.30 | -3150.0 | -251.35 | -0.95 | -4850.0 | -691.67 | 0.09 | 0.0 | -18.18 | -6.52 | -185.68 | -239.91 | 28.07 | -20.26 | -57.33 | 35.14 | 0 | 108.78 | 64.86 | 0 | -87.03 | 4.06 | -67.28 | 407.5 |
| 23Q3 (19) | 12.28 | -41.99 | -45.03 | -8.30 | -3358.33 | -728.79 | -0.10 | -101.38 | -100.56 | -0.33 | -108.11 | -102.23 | -0.04 | -106.78 | -101.51 | 0.02 | -95.92 | -98.77 | 0.09 | -18.18 | -10.0 | 7.61 | -46.07 | -68.33 | 35.20 | -7.44 | -50.3 | 0.00 | 100.0 | -100.0 | 0.00 | -100.0 | -100.0 | 12.41 | 77.54 | -21.01 |
| 23Q2 (18) | 21.17 | -9.34 | -19.87 | -0.24 | -103.11 | -102.22 | 7.26 | 4.31 | -54.31 | 4.07 | -25.05 | -66.06 | 0.59 | -30.59 | -80.72 | 0.49 | -24.62 | -74.61 | 0.11 | 10.0 | -26.67 | 14.11 | 0.64 | -30.87 | 38.03 | 1.52 | -45.83 | -4.35 | -103.83 | -106.38 | 104.35 | 1247.83 | 227.27 | 6.99 | -31.54 | 42.94 |
| 23Q1 (17) | 23.35 | 5.56 | 8.66 | 7.71 | 3.35 | 21.42 | 6.96 | 455.1 | -49.96 | 5.43 | 361.06 | -50.14 | 0.85 | 329.73 | -67.92 | 0.65 | 641.67 | -61.99 | 0.10 | -9.09 | -33.33 | 14.02 | 200.86 | -24.09 | 37.46 | -43.06 | -37.29 | 113.64 | 128.41 | 153.5 | -9.09 | -101.82 | -116.48 | 10.21 | 1176.25 | -5.81 |
| 22Q4 (16) | 22.12 | -0.98 | 53.72 | 7.46 | 465.15 | 552.12 | -1.96 | -111.07 | -157.89 | -2.08 | -114.03 | -35.95 | -0.37 | -113.96 | -15.62 | -0.12 | -107.41 | 0.0 | 0.11 | 10.0 | -15.38 | 4.66 | -80.61 | 19.18 | 65.79 | -7.1 | 0.97 | -400.00 | -5600.0 | -300.0 | 500.00 | 439.22 | 600.0 | 0.80 | -94.91 | -87.38 |
| 22Q3 (15) | 22.34 | -15.44 | 61.07 | 1.32 | -87.81 | 214.29 | 17.71 | 11.45 | 245.9 | 14.83 | 23.69 | 258.21 | 2.65 | -13.4 | 248.68 | 1.62 | -16.06 | 200.0 | 0.10 | -33.33 | -9.09 | 24.03 | 17.74 | 131.95 | 70.82 | 0.87 | 11.19 | 7.27 | -89.32 | 16.36 | 92.73 | 190.83 | -1.09 | 15.71 | 221.27 | 109.75 |
| 22Q2 (14) | 26.42 | 22.94 | 81.46 | 10.83 | 70.55 | 708.43 | 15.89 | 14.23 | 2793.22 | 11.99 | 10.1 | 1200.0 | 3.06 | 15.47 | 1630.0 | 1.93 | 12.87 | 2512.5 | 0.15 | 0.0 | 36.36 | 20.41 | 10.5 | 372.45 | 70.21 | 17.53 | 6.8 | 68.12 | 51.95 | -72.75 | 31.88 | -42.21 | 115.94 | 4.89 | -54.89 | 0.82 |
| 22Q1 (13) | 21.49 | 49.34 | 30.48 | 6.35 | 484.85 | 3.93 | 13.91 | 1930.26 | 18.18 | 10.89 | 811.76 | 17.86 | 2.65 | 928.12 | 64.6 | 1.71 | 1525.0 | 52.68 | 0.15 | 15.38 | 25.0 | 18.47 | 372.38 | 9.35 | 59.74 | -8.32 | 7.06 | 44.83 | -77.59 | -12.84 | 55.17 | 155.17 | 13.59 | 10.84 | 70.98 | -16.23 |
| 21Q4 (12) | 14.39 | 3.75 | -34.95 | -1.65 | -492.86 | -116.53 | -0.76 | -114.84 | -109.18 | -1.53 | -136.96 | -122.05 | -0.32 | -142.11 | -117.58 | -0.12 | -122.22 | -109.3 | 0.13 | 18.18 | -27.78 | 3.91 | -62.26 | -66.67 | 65.16 | 2.31 | 42.4 | 200.00 | 3100.0 | 64.44 | -100.00 | -206.67 | -362.5 | 6.34 | -15.35 | -15.69 |
| 21Q3 (11) | 13.87 | -4.74 | -34.42 | 0.42 | 123.6 | -93.24 | 5.12 | 967.8 | -28.69 | 4.14 | 479.82 | -39.03 | 0.76 | 480.0 | -50.97 | 0.54 | 775.0 | -47.57 | 0.11 | 0.0 | -21.43 | 10.36 | 139.81 | -9.12 | 63.69 | -3.12 | 25.47 | 6.25 | -97.5 | -92.56 | 93.75 | 146.88 | 681.25 | 7.49 | 54.43 | 371.07 |
| 21Q2 (10) | 14.56 | -11.6 | -12.61 | -1.78 | -129.13 | -140.83 | -0.59 | -105.01 | -106.11 | -1.09 | -111.8 | -117.75 | -0.20 | -112.42 | -112.9 | -0.08 | -107.14 | -108.6 | 0.11 | -8.33 | -21.43 | 4.32 | -74.42 | -69.38 | 65.74 | 17.81 | -13.58 | 250.00 | 386.11 | 453.57 | -200.00 | -511.76 | -464.71 | 4.85 | -62.52 | -59.52 |
| 21Q1 (9) | 16.47 | -25.54 | -39.14 | 6.11 | -38.78 | -50.49 | 11.77 | 42.15 | -25.83 | 9.24 | 33.14 | -27.19 | 1.61 | -11.54 | -56.37 | 1.12 | -13.18 | -48.39 | 0.12 | -33.33 | -25.0 | 16.89 | 43.99 | -14.18 | 55.80 | 21.94 | -33.15 | 51.43 | -57.71 | -34.04 | 48.57 | 324.64 | 120.44 | 12.94 | 72.07 | 9.66 |
| 20Q4 (8) | 22.12 | 4.59 | 7.43 | 9.98 | 60.71 | -5.76 | 8.28 | 15.32 | -12.2 | 6.94 | 2.21 | -9.28 | 1.82 | 17.42 | -21.21 | 1.29 | 25.24 | -10.42 | 0.18 | 28.57 | 0.0 | 11.73 | 2.89 | -10.25 | 45.76 | -9.85 | -35.12 | 121.62 | 44.79 | 6.42 | -21.62 | -280.18 | -89.19 | 7.52 | 372.96 | 0 |
| 20Q3 (7) | 21.15 | 26.95 | -17.93 | 6.21 | 42.43 | -28.04 | 7.18 | -25.6 | -53.83 | 6.79 | 10.59 | -43.98 | 1.55 | 0.0 | -48.68 | 1.03 | 10.75 | -45.5 | 0.14 | 0.0 | -6.67 | 11.40 | -19.21 | -42.8 | 50.76 | -33.27 | -26.52 | 84.00 | 86.0 | 51.2 | 12.00 | -78.12 | -73.0 | 1.59 | -86.73 | -90.29 |
| 20Q2 (6) | 16.66 | -38.43 | -34.51 | 4.36 | -64.67 | -43.81 | 9.65 | -39.19 | 0.94 | 6.14 | -51.62 | -17.03 | 1.55 | -57.99 | -12.43 | 0.93 | -57.14 | -22.5 | 0.14 | -12.5 | -12.5 | 14.11 | -28.3 | 3.37 | 76.07 | -8.87 | 20.27 | 45.16 | -42.08 | -45.02 | 54.84 | 148.88 | 207.1 | 11.98 | 1.53 | -11.98 |
| 20Q1 (5) | 27.06 | 31.42 | 10.04 | 12.34 | 16.53 | 48.67 | 15.87 | 68.29 | 28.92 | 12.69 | 65.88 | 32.46 | 3.69 | 59.74 | 75.71 | 2.17 | 50.69 | 44.67 | 0.16 | -11.11 | 6.67 | 19.68 | 50.57 | 26.15 | 83.47 | 18.35 | 89.92 | 77.97 | -31.78 | 18.64 | 22.03 | 292.8 | -29.89 | 11.80 | 0 | -8.95 |
| 19Q4 (4) | 20.59 | -20.1 | 0.0 | 10.59 | 22.71 | 0.0 | 9.43 | -39.36 | 0.0 | 7.65 | -36.88 | 0.0 | 2.31 | -23.51 | 0.0 | 1.44 | -23.81 | 0.0 | 0.18 | 20.0 | 0.0 | 13.07 | -34.42 | 0.0 | 70.53 | 2.1 | 0.0 | 114.29 | 105.71 | 0.0 | -11.43 | -125.71 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q3 (3) | 25.77 | 1.3 | 0.0 | 8.63 | 11.21 | 0.0 | 15.55 | 62.66 | 0.0 | 12.12 | 63.78 | 0.0 | 3.02 | 70.62 | 0.0 | 1.89 | 57.5 | 0.0 | 0.15 | -6.25 | 0.0 | 19.93 | 46.01 | 0.0 | 69.08 | 9.22 | 0.0 | 55.56 | -32.37 | 0.0 | 44.44 | 148.89 | 0.0 | 16.37 | 20.28 | 0.0 |
| 19Q2 (2) | 25.44 | 3.46 | 0.0 | 7.76 | -6.51 | 0.0 | 9.56 | -22.34 | 0.0 | 7.40 | -22.76 | 0.0 | 1.77 | -15.71 | 0.0 | 1.20 | -20.0 | 0.0 | 0.16 | 6.67 | 0.0 | 13.65 | -12.5 | 0.0 | 63.25 | 43.91 | 0.0 | 82.14 | 25.0 | 0.0 | 17.86 | -43.18 | 0.0 | 13.61 | 5.02 | 0.0 |
| 19Q1 (1) | 24.59 | 0.0 | 0.0 | 8.30 | 0.0 | 0.0 | 12.31 | 0.0 | 0.0 | 9.58 | 0.0 | 0.0 | 2.10 | 0.0 | 0.0 | 1.50 | 0.0 | 0.0 | 0.15 | 0.0 | 0.0 | 15.60 | 0.0 | 0.0 | 43.95 | 0.0 | 0.0 | 65.71 | 0.0 | 0.0 | 31.43 | 0.0 | 0.0 | 12.96 | 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) | 16.52 | -28.95 | -1.01 | 0 | 5.70 | 38.78 | 0.67 | -94.34 | -0.13 | 0 | -0.08 | 0 | 0.18 | -96.38 | 0.39 | -23.53 | 7.80 | -54.6 | 28.07 | -57.33 | -150.00 | 0 | 250.00 | 494.59 | 0.82 | -24.39 | 8.43 | 6.44 |
| 2022 (9) | 23.25 | 57.2 | 6.86 | 971.88 | 4.11 | 5.95 | 11.84 | 224.38 | 9.22 | 270.28 | 7.70 | 320.77 | 4.97 | 250.0 | 0.51 | 8.51 | 17.18 | 97.24 | 65.79 | 0.97 | 57.95 | 233.24 | 42.05 | -49.1 | 1.08 | -34.07 | 7.92 | 1.41 |
| 2021 (8) | 14.79 | -32.65 | 0.64 | -92.46 | 3.88 | 37.08 | 3.65 | -64.29 | 2.49 | -69.52 | 1.83 | -77.07 | 1.42 | -73.61 | 0.47 | -24.19 | 8.71 | -38.45 | 65.16 | 42.4 | 17.39 | -79.02 | 82.61 | 382.94 | 1.64 | -21.78 | 7.81 | -4.52 |
| 2020 (7) | 21.96 | -7.96 | 8.49 | -5.03 | 2.83 | 0.35 | 10.22 | -11.52 | 8.17 | -10.02 | 7.98 | -9.11 | 5.38 | -7.08 | 0.62 | 1.64 | 14.15 | -7.58 | 45.76 | -34.76 | 82.89 | 6.79 | 17.11 | -23.56 | 2.09 | -23.91 | 8.18 | -15.58 |
| 2019 (6) | 23.86 | -11.53 | 8.94 | -26.96 | 2.82 | 5.29 | 11.55 | -35.8 | 9.08 | -36.64 | 8.78 | -32.41 | 5.79 | -34.43 | 0.61 | 1.67 | 15.31 | -27.65 | 70.14 | 52.18 | 77.62 | 14.45 | 22.38 | -29.37 | 2.75 | 88.37 | 9.69 | -30.04 |
| 2018 (5) | 26.97 | 15.45 | 12.24 | 15.58 | 2.68 | 43.59 | 17.99 | 35.98 | 14.33 | 39.4 | 12.99 | 10.18 | 8.83 | 14.68 | 0.60 | -17.81 | 21.16 | 36.6 | 46.09 | -18.02 | 67.82 | -15.61 | 31.68 | 56.5 | 1.46 | 0 | 13.85 | 15.51 |
| 2017 (4) | 23.36 | 15.42 | 10.59 | 2.02 | 1.87 | -22.4 | 13.23 | 3.85 | 10.28 | 25.52 | 11.79 | 31.15 | 7.70 | 28.33 | 0.73 | 2.82 | 15.49 | -0.58 | 56.22 | -3.53 | 80.37 | -1.03 | 20.25 | 7.71 | 0.00 | 0 | 11.99 | -3.85 |
| 2016 (3) | 20.24 | -37.4 | 10.38 | -21.48 | 2.40 | -28.96 | 12.74 | -24.21 | 8.19 | -36.81 | 8.99 | -27.09 | 6.00 | -26.29 | 0.71 | 18.33 | 15.58 | -25.81 | 58.28 | 11.8 | 81.20 | 3.48 | 18.80 | -12.68 | 0.00 | 0 | 12.47 | -8.51 |
| 2015 (2) | 32.33 | 23.12 | 13.22 | 117.79 | 3.38 | -26.02 | 16.81 | 34.7 | 12.96 | 15.1 | 12.33 | 26.07 | 8.14 | 48.0 | 0.60 | 36.36 | 21.00 | 13.82 | 52.13 | -21.07 | 78.47 | 63.14 | 21.53 | -58.52 | 0.00 | 0 | 13.63 | -17.64 |
| 2014 (1) | 26.26 | 0 | 6.07 | 0 | 4.57 | 133.93 | 12.48 | 0 | 11.26 | 0 | 9.78 | 0 | 5.50 | 0 | 0.44 | -54.17 | 18.45 | 7.71 | 66.05 | -52.46 | 48.10 | -46.78 | 51.90 | 439.75 | 0.00 | 0 | 16.55 | 37.46 |
