- 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) | 9.72 | -19.34 | -33.92 | -15.69 | -20.41 | -23.74 | -20.92 | -78.5 | -20.3 | -15.25 | -61.89 | -9.55 | -3.56 | -59.64 | -25.8 | -1.60 | -73.91 | -22.14 | 0.12 | 0.0 | 9.09 | -7.55 | -676.34 | -145.93 | 100.00 | 2.63 | 11.48 | 75.82 | -31.76 | 3.91 | 25.27 | 327.47 | -6.48 | 25.06 | -27.17 | -15.99 |
| 23Q3 (19) | 12.05 | -19.07 | -34.79 | -13.03 | -23.98 | -103.28 | -11.72 | -40.87 | -949.28 | -9.42 | -33.81 | -787.59 | -2.23 | -36.81 | -796.87 | -0.92 | -43.75 | -417.24 | 0.12 | 0.0 | 0.0 | 1.31 | -75.05 | -89.92 | 97.44 | 0.88 | 3.78 | 111.11 | -12.04 | 125.09 | -11.11 | 57.78 | -102.05 | 34.41 | 40.97 | 24.36 |
| 23Q2 (18) | 14.89 | -25.88 | -29.13 | -10.51 | -4469.57 | -614.97 | -8.32 | -109.57 | -528.87 | -7.04 | -112.69 | -318.63 | -1.63 | -83.15 | -298.78 | -0.64 | -128.57 | -223.08 | 0.12 | -14.29 | -7.69 | 5.25 | -26.68 | -55.36 | 96.59 | 4.64 | -2.59 | 126.32 | 2678.95 | 257.89 | -26.32 | -128.95 | -114.62 | 24.41 | 3.7 | -2.9 |
| 23Q1 (17) | 20.09 | 36.57 | -10.15 | -0.23 | 98.19 | -104.55 | -3.97 | 77.17 | -143.34 | -3.31 | 76.22 | -147.29 | -0.89 | 68.55 | -140.64 | -0.28 | 78.63 | -123.93 | 0.14 | 27.27 | -6.67 | 7.16 | 333.22 | -57.38 | 92.31 | 2.91 | -7.88 | 4.55 | -93.77 | -91.76 | 90.91 | 236.36 | 102.8 | 23.54 | -21.09 | 9.23 |
| 22Q4 (16) | 14.71 | -20.4 | -10.63 | -12.68 | -97.82 | -128.88 | -17.39 | -1360.14 | -220.85 | -13.92 | -1116.06 | -228.3 | -2.83 | -984.38 | -183.0 | -1.31 | -551.72 | -227.5 | 0.11 | -8.33 | 0.0 | -3.07 | -123.63 | -168.83 | 89.70 | -4.46 | -17.14 | 72.97 | 116.48 | -27.03 | 27.03 | -95.02 | 802.7 | 29.83 | 7.81 | -4.48 |
| 22Q3 (15) | 18.48 | -12.04 | 1.82 | -6.41 | -336.05 | -425.41 | 1.38 | -28.87 | 575.86 | 1.37 | -57.45 | -79.43 | 0.32 | -60.98 | -82.42 | 0.29 | -44.23 | -70.71 | 0.12 | -7.69 | -7.69 | 12.99 | 10.46 | 58.8 | 93.89 | -5.31 | -7.48 | -442.86 | -453.57 | -226.53 | 542.86 | 201.59 | 317.14 | 27.67 | 10.06 | 19.58 |
| 22Q2 (14) | 21.01 | -6.04 | -10.21 | -1.47 | -129.05 | -138.08 | 1.94 | -78.82 | 36.62 | 3.22 | -54.0 | 973.33 | 0.82 | -62.56 | 811.11 | 0.52 | -55.56 | 300.0 | 0.13 | -13.33 | -7.14 | 11.76 | -30.0 | 33.48 | 99.16 | -1.05 | -9.38 | -80.00 | -245.0 | -127.83 | 180.00 | 301.54 | 202.86 | 25.14 | 16.66 | -3.31 |
| 22Q1 (13) | 22.36 | 35.84 | 3.47 | 5.06 | 191.34 | 13.71 | 9.16 | 269.0 | 88.48 | 7.00 | 265.09 | 79.03 | 2.19 | 319.0 | 79.51 | 1.17 | 392.5 | 69.57 | 0.15 | 36.36 | 0.0 | 16.80 | 276.68 | 40.59 | 100.21 | -7.44 | -2.15 | 55.17 | -44.83 | -38.7 | 44.83 | 1265.52 | 348.28 | 21.55 | -31.0 | -15.95 |
| 21Q4 (12) | 16.46 | -9.31 | -48.74 | -5.54 | -354.1 | -144.5 | -5.42 | -1768.97 | -155.88 | -4.24 | -163.66 | -170.78 | -1.00 | -154.95 | -154.05 | -0.40 | -140.4 | -139.6 | 0.11 | -15.38 | -26.67 | 4.46 | -45.48 | -72.6 | 108.26 | 6.68 | 4.79 | 100.00 | -71.43 | -21.62 | -3.85 | 98.46 | 86.06 | 31.23 | 34.96 | 15.8 |
| 21Q3 (11) | 18.15 | -22.44 | -0.82 | -1.22 | -131.61 | 65.04 | -0.29 | -120.42 | 91.81 | 6.66 | 2120.0 | 308.12 | 1.82 | 1922.22 | 289.58 | 0.99 | 661.54 | 341.46 | 0.13 | -7.14 | -13.33 | 8.18 | -7.15 | 178.23 | 101.48 | -7.26 | 0.07 | 350.00 | 21.74 | 267.5 | -250.00 | -42.86 | 0 | 23.14 | -11.0 | -12.45 |
| 21Q2 (10) | 23.40 | 8.28 | 31.83 | 3.86 | -13.26 | 156.52 | 1.42 | -70.78 | 117.07 | 0.30 | -92.33 | 104.39 | 0.09 | -92.62 | 106.29 | 0.13 | -81.16 | 119.4 | 0.14 | -6.67 | 27.27 | 8.81 | -26.28 | 3570.83 | 109.43 | 6.85 | 9.56 | 287.50 | 219.44 | 246.98 | -175.00 | -1850.0 | -1120.83 | 26.00 | 1.4 | 0 |
| 21Q1 (9) | 21.61 | -32.7 | 10.48 | 4.45 | -64.26 | 161.89 | 4.86 | -49.9 | 167.22 | 3.91 | -34.72 | 988.64 | 1.22 | -34.05 | 1625.0 | 0.69 | -31.68 | 2200.0 | 0.15 | 0.0 | 50.0 | 11.95 | -26.6 | 702.01 | 102.41 | -0.87 | 18.96 | 90.00 | -29.46 | -10.0 | 10.00 | 136.25 | 0 | 25.64 | -4.93 | 0 |
| 20Q4 (8) | 32.11 | 75.46 | 61.6 | 12.45 | 456.73 | 388.19 | 9.70 | 374.01 | 271.99 | 5.99 | 287.19 | 227.99 | 1.85 | 292.71 | 265.18 | 1.01 | 346.34 | 287.04 | 0.15 | 0.0 | 15.38 | 16.28 | 453.74 | 1561.22 | 103.31 | 1.87 | 20.45 | 127.59 | 33.97 | 68.18 | -27.59 | 0 | -214.29 | 26.97 | 2.04 | -0.59 |
| 20Q3 (7) | 18.30 | 3.1 | -25.31 | -3.49 | 48.9 | 33.01 | -3.54 | 57.45 | -103.28 | -3.20 | 53.15 | -104.22 | -0.96 | 32.87 | -105.01 | -0.41 | 38.81 | -103.8 | 0.15 | 36.36 | 7.14 | 2.94 | 1125.0 | -97.43 | 101.41 | 1.53 | 33.22 | 95.24 | 14.94 | 2078.02 | -0.00 | -100.0 | -100.0 | 26.43 | 0 | -9.14 |
| 20Q2 (6) | 17.75 | -9.25 | -25.29 | -6.83 | 5.01 | -324.67 | -8.32 | -15.08 | -295.31 | -6.83 | -1452.27 | -354.85 | -1.43 | -1687.5 | -293.24 | -0.67 | -2333.33 | -236.73 | 0.11 | 10.0 | -31.25 | 0.24 | -83.89 | -97.63 | 99.88 | 16.02 | 21.7 | 82.86 | -17.14 | 13.93 | 17.14 | 0 | -37.14 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 19.56 | -1.56 | -19.54 | -7.19 | -66.44 | -227.94 | -7.23 | -28.19 | -222.34 | -0.44 | 90.6 | -109.52 | -0.08 | 92.86 | -106.45 | 0.03 | 105.56 | -96.05 | 0.10 | -23.08 | -33.33 | 1.49 | 52.04 | -87.74 | 86.09 | 0.37 | 29.3 | 100.00 | 31.82 | 7.14 | 0.00 | -100.0 | -100.0 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 19.87 | -18.9 | 0.0 | -4.32 | 17.08 | 0.0 | -5.64 | -105.23 | 0.0 | -4.68 | -106.18 | 0.0 | -1.12 | -105.85 | 0.0 | -0.54 | -105.01 | 0.0 | 0.13 | -7.14 | 0.0 | 0.98 | -99.14 | 0.0 | 85.77 | 12.68 | 0.0 | 75.86 | 1675.6 | 0.0 | 24.14 | -76.97 | 0.0 | 27.13 | -6.74 | 0.0 |
| 19Q3 (3) | 24.50 | 3.11 | 0.0 | -5.21 | -271.38 | 0.0 | 107.89 | 2432.63 | 0.0 | 75.75 | 2726.49 | 0.0 | 19.16 | 2489.19 | 0.0 | 10.78 | 2100.0 | 0.0 | 0.14 | -12.5 | 0.0 | 114.20 | 1026.23 | 0.0 | 76.12 | -7.25 | 0.0 | -4.81 | -106.62 | 0.0 | 104.81 | 284.32 | 0.0 | 29.09 | 7.3 | 0.0 |
| 19Q2 (2) | 23.76 | -2.26 | 0.0 | 3.04 | -45.91 | 0.0 | 4.26 | -27.92 | 0.0 | 2.68 | -41.99 | 0.0 | 0.74 | -40.32 | 0.0 | 0.49 | -35.53 | 0.0 | 0.16 | 6.67 | 0.0 | 10.14 | -16.54 | 0.0 | 82.07 | 23.27 | 0.0 | 72.73 | -22.08 | 0.0 | 27.27 | 718.18 | 0.0 | 27.11 | 6.9 | 0.0 |
| 19Q1 (1) | 24.31 | 0.0 | 0.0 | 5.62 | 0.0 | 0.0 | 5.91 | 0.0 | 0.0 | 4.62 | 0.0 | 0.0 | 1.24 | 0.0 | 0.0 | 0.76 | 0.0 | 0.0 | 0.15 | 0.0 | 0.0 | 12.15 | 0.0 | 0.0 | 66.58 | 0.0 | 0.0 | 93.33 | 0.0 | 0.0 | 3.33 | 0.0 | 0.0 | 25.36 | 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) | 14.51 | -25.78 | -9.36 | 0 | 10.07 | 18.53 | -10.79 | 0 | -8.44 | 0 | -8.31 | 0 | -3.46 | 0 | 0.51 | -1.92 | 1.90 | -82.11 | 100.00 | 11.48 | 86.83 | 0 | 13.17 | -99.58 | 0.44 | -29.19 | 26.73 | 4.45 |
| 2022 (9) | 19.55 | -2.93 | -2.90 | 0 | 8.49 | 27.53 | 0.08 | -83.67 | 0.46 | -75.79 | 0.47 | -78.14 | 0.74 | -47.52 | 0.52 | -5.45 | 10.62 | 22.92 | 89.70 | -17.14 | -3000.00 | 0 | 3100.00 | 0 | 0.62 | 11.92 | 25.59 | -2.7 |
| 2021 (8) | 20.14 | -10.69 | 0.77 | 0 | 6.66 | 7.48 | 0.49 | 0 | 1.90 | 0 | 2.15 | 0 | 1.41 | 0 | 0.55 | 7.84 | 8.64 | 42.81 | 108.26 | 4.79 | 154.55 | 943.18 | -54.55 | 0 | 0.56 | -4.59 | 26.30 | -6.34 |
| 2020 (7) | 22.55 | -2.38 | -0.19 | 0 | 6.20 | 19.51 | -1.35 | 0 | -0.68 | 0 | -0.67 | 0 | -0.04 | 0 | 0.51 | -7.27 | 6.05 | -82.2 | 103.31 | 20.45 | 14.81 | 0 | 85.19 | -15.42 | 0.58 | -1.34 | 28.08 | 3.65 |
| 2019 (6) | 23.10 | -13.77 | -0.21 | 0 | 5.19 | 0.41 | 27.80 | 191.4 | 19.38 | 169.92 | 19.86 | 152.35 | 10.94 | 127.44 | 0.55 | -14.06 | 33.98 | 113.17 | 85.77 | -0.49 | -0.71 | 0 | 100.71 | 590.59 | 0.59 | -24.56 | 27.09 | 12.83 |
| 2018 (5) | 26.79 | 12.37 | 8.15 | 153.11 | 5.16 | -23.91 | 9.54 | 544.59 | 7.18 | 535.4 | 7.87 | 642.45 | 4.81 | 406.32 | 0.64 | 6.67 | 15.94 | 66.56 | 86.19 | 50.68 | 85.42 | -60.34 | 14.58 | 0 | 0.78 | 0 | 24.01 | -5.02 |
| 2017 (4) | 23.84 | -11.8 | 3.22 | -47.56 | 6.79 | -5.04 | 1.48 | -77.05 | 1.13 | -76.7 | 1.06 | -76.18 | 0.95 | -70.4 | 0.60 | -1.64 | 9.57 | -35.6 | 57.20 | 7.34 | 215.38 | 127.35 | -115.38 | 0 | 0.00 | 0 | 25.28 | 1.44 |
| 2016 (3) | 27.03 | 6.38 | 6.14 | -2.85 | 7.15 | 10.72 | 6.45 | -23.58 | 4.85 | -26.18 | 4.45 | -31.96 | 3.21 | -30.82 | 0.61 | -7.58 | 14.86 | -9.11 | 53.29 | 14.31 | 94.74 | 26.84 | 4.39 | -82.67 | 0.00 | 0 | 24.92 | 2.21 |
| 2015 (2) | 25.41 | -0.27 | 6.32 | 9.53 | 6.45 | 19.81 | 8.44 | 12.99 | 6.57 | 8.6 | 6.54 | -6.7 | 4.64 | -2.11 | 0.66 | -9.59 | 16.35 | 16.2 | 46.62 | -15.24 | 74.69 | -3.02 | 25.31 | 10.13 | 0.00 | 0 | 24.38 | -12.55 |
| 2014 (1) | 25.48 | 0 | 5.77 | 0 | 5.39 | 10.95 | 7.47 | 0 | 6.05 | 0 | 7.01 | 0 | 4.74 | 0 | 0.73 | -3.95 | 14.07 | 10.09 | 55.00 | -9.76 | 77.02 | 4.77 | 22.98 | -13.25 | 0.00 | 0 | 27.88 | -1.03 |
