- 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) | 34.32 | 6.92 | -12.18 | -16.11 | 61.3 | -325.0 | -25.24 | 23.26 | -323.49 | -23.11 | 21.23 | -782.06 | -3.45 | -4.23 | -484.75 | -2.83 | -2.54 | -543.18 | 0.12 | 33.33 | -33.33 | -21.67 | 15.12 | -644.67 | 22.94 | 19.54 | -2.92 | 66.67 | -47.37 | 157.14 | 33.33 | 225.0 | -84.62 | 51.14 | 3.1 | 57.79 |
| 23Q3 (19) | 32.10 | -2.19 | -2.64 | -41.63 | 10.74 | -449.93 | -32.89 | 17.77 | -3036.61 | -29.34 | 27.57 | -1494.57 | -3.31 | 8.56 | -903.03 | -2.76 | 9.21 | -1214.29 | 0.09 | 12.5 | -35.71 | -25.53 | 19.16 | -616.8 | 19.19 | 3.95 | -35.47 | 126.67 | 5.56 | 121.11 | -26.67 | -33.33 | -103.81 | 49.60 | -7.08 | 70.62 |
| 23Q2 (18) | 32.82 | 0.8 | 3.27 | -46.64 | 9.24 | -1357.5 | -40.00 | 25.5 | -1011.16 | -40.51 | 26.36 | -1284.5 | -3.62 | 14.82 | -656.92 | -3.04 | 12.64 | -652.73 | 0.08 | 33.33 | -46.67 | -31.58 | 28.42 | -487.96 | 18.46 | -0.43 | -30.65 | 120.00 | 20.0 | 260.0 | -20.00 | -460.0 | -111.43 | 53.38 | 5.27 | 110.99 |
| 23Q1 (17) | 32.56 | -16.68 | 45.03 | -51.39 | -817.74 | 6.21 | -53.69 | -800.84 | -20.19 | -55.01 | -1999.62 | -15.93 | -4.25 | -620.34 | -7.87 | -3.48 | -690.91 | -9.09 | 0.06 | -66.67 | -14.29 | -44.12 | -1416.15 | -28.97 | 18.54 | -21.54 | -18.22 | 100.00 | 185.71 | -19.05 | 5.56 | -97.44 | 123.61 | 50.71 | 56.46 | -3.81 |
| 22Q4 (16) | 39.08 | 18.53 | 0.13 | 7.16 | 194.58 | 123.9 | -5.96 | -632.14 | 80.41 | -2.62 | -42.39 | 92.42 | -0.59 | -78.79 | 82.75 | -0.44 | -109.52 | 84.34 | 0.18 | 28.57 | 125.0 | -2.91 | -158.91 | 86.61 | 23.63 | -20.54 | 8.99 | -116.67 | 80.56 | -216.67 | 216.67 | -69.05 | 0 | 32.41 | 11.49 | -45.65 |
| 22Q3 (15) | 32.97 | 3.74 | 14.28 | -7.57 | -136.56 | 83.24 | 1.12 | -74.49 | 102.49 | -1.84 | -153.8 | 95.48 | -0.33 | -150.77 | 91.52 | -0.21 | -138.18 | 93.42 | 0.14 | -6.67 | 75.0 | 4.94 | -39.31 | 113.37 | 29.74 | 11.72 | 57.02 | -600.00 | -700.0 | -700.0 | 700.00 | 300.0 | 0 | 29.07 | 14.9 | -44.27 |
| 22Q2 (14) | 31.78 | 41.56 | 17.18 | -3.20 | 94.16 | 94.56 | 4.39 | 109.83 | 107.07 | 3.42 | 107.21 | 105.44 | 0.65 | 116.5 | 112.6 | 0.55 | 117.24 | 112.94 | 0.15 | 114.29 | 114.29 | 8.14 | 123.79 | 115.54 | 26.62 | 17.42 | 20.67 | -75.00 | -160.71 | -178.0 | 175.00 | 843.75 | 4450.0 | 25.30 | -52.01 | -56.26 |
| 22Q1 (13) | 22.45 | -42.48 | -6.69 | -54.79 | -82.88 | -88.09 | -44.67 | -46.8 | -58.85 | -47.45 | -37.3 | -73.56 | -3.94 | -15.2 | -27.51 | -3.19 | -13.52 | -24.12 | 0.07 | -12.5 | -30.0 | -34.21 | -57.36 | -57.87 | 22.67 | 4.57 | 19.44 | 123.53 | 23.53 | 16.67 | -23.53 | 0 | -300.0 | 52.72 | -11.59 | 41.49 |
| 21Q4 (12) | 39.03 | 35.29 | -22.64 | -29.96 | 33.69 | -119.33 | -30.43 | 32.24 | -44.08 | -34.56 | 15.09 | -107.82 | -3.42 | 12.08 | -104.79 | -2.81 | 11.91 | -106.62 | 0.08 | 0.0 | 0.0 | -21.74 | 41.18 | -70.78 | 21.68 | 14.47 | 22.07 | 100.00 | 0.0 | 71.43 | -0.00 | 0 | -100.0 | 59.63 | 14.32 | 547.34 |
| 21Q3 (11) | 28.85 | 6.38 | 16.47 | -45.18 | 23.15 | -17.2 | -44.91 | 27.7 | -12.33 | -40.70 | 35.24 | -25.73 | -3.89 | 24.61 | -22.33 | -3.19 | 24.94 | -20.38 | 0.08 | 14.29 | 0.0 | -36.96 | 29.44 | -19.57 | 18.94 | -14.14 | -1.04 | 100.00 | 4.0 | 4.76 | -0.00 | -100.0 | -100.0 | 52.16 | -9.82 | 21.33 |
| 21Q2 (10) | 27.12 | 12.72 | -18.31 | -58.79 | -101.82 | -70.36 | -62.12 | -120.91 | -273.09 | -62.85 | -129.88 | -388.34 | -5.16 | -66.99 | -312.8 | -4.25 | -65.37 | -320.79 | 0.07 | -30.0 | -12.5 | -52.38 | -141.72 | -497.26 | 22.06 | 16.23 | 19.24 | 96.15 | -9.19 | -56.73 | 3.85 | 165.38 | 103.46 | 57.84 | 55.23 | 0 |
| 21Q1 (9) | 24.06 | -52.31 | -21.27 | -29.13 | -113.25 | 53.44 | -28.12 | -33.14 | 55.74 | -27.34 | -64.4 | 46.84 | -3.09 | -85.03 | 8.58 | -2.57 | -88.97 | 11.68 | 0.10 | 25.0 | 66.67 | -21.67 | -70.23 | 58.72 | 18.98 | 6.87 | 14.61 | 105.88 | 81.51 | 10.12 | -5.88 | -117.65 | 0 | 37.26 | 379.52 | 0 |
| 20Q4 (8) | 50.45 | 103.67 | 34.1 | -13.66 | 64.57 | -499.12 | -21.12 | 47.17 | -371.43 | -16.63 | 48.63 | -344.65 | -1.67 | 47.48 | -178.33 | -1.36 | 48.68 | -166.67 | 0.08 | 0.0 | -42.86 | -12.73 | 58.82 | 0 | 17.76 | -7.21 | 16.92 | 58.33 | -38.89 | 45.83 | 33.33 | 633.33 | -16.67 | -13.33 | -131.01 | -154.41 |
| 20Q3 (7) | 24.77 | -25.39 | -35.88 | -38.55 | -11.71 | -45.53 | -39.98 | -140.12 | -61.67 | -32.37 | -151.52 | -64.65 | -3.18 | -154.4 | -43.24 | -2.65 | -162.38 | -40.96 | 0.08 | 0.0 | -20.0 | -30.91 | -252.45 | -61.16 | 19.14 | 3.46 | -4.92 | 95.45 | -57.05 | -9.57 | 4.55 | 104.09 | 181.82 | 42.99 | 0 | -2.52 |
| 20Q2 (6) | 33.20 | 8.64 | 28.43 | -34.51 | 44.85 | -22.81 | -16.65 | 73.8 | 27.17 | -12.87 | 74.98 | 28.18 | -1.25 | 63.02 | 46.35 | -1.01 | 65.29 | 49.5 | 0.08 | 33.33 | -27.27 | -8.77 | 83.3 | 49.13 | 18.50 | 11.71 | 24.08 | 222.22 | 131.11 | 85.19 | -111.11 | 0 | -344.44 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 30.56 | -18.77 | 7.04 | -62.57 | -2644.3 | -69.98 | -63.54 | -1318.3 | -97.76 | -51.43 | -1275.13 | -97.43 | -3.38 | -463.33 | -22.02 | -2.91 | -470.59 | -23.83 | 0.06 | -57.14 | -33.33 | -52.50 | 0 | -110.0 | 16.56 | 9.02 | -5.86 | 96.15 | 140.38 | -18.09 | 0.00 | -100.0 | 100.0 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 37.62 | -2.61 | 0.0 | -2.28 | 91.39 | 0.0 | -4.48 | 81.88 | 0.0 | -3.74 | 80.98 | 0.0 | -0.60 | 72.97 | 0.0 | -0.51 | 72.87 | 0.0 | 0.14 | 40.0 | 0.0 | -0.00 | 100.0 | 0.0 | 15.19 | -24.54 | 0.0 | 40.00 | -62.11 | 0.0 | 40.00 | 820.0 | 0.0 | 24.50 | -44.44 | 0.0 |
| 19Q3 (3) | 38.63 | 49.44 | 0.0 | -26.49 | 5.73 | 0.0 | -24.73 | -8.18 | 0.0 | -19.66 | -9.71 | 0.0 | -2.22 | 4.72 | 0.0 | -1.88 | 6.0 | 0.0 | 0.10 | -9.09 | 0.0 | -19.18 | -11.25 | 0.0 | 20.13 | 35.01 | 0.0 | 105.56 | -12.04 | 0.0 | -5.56 | 77.78 | 0.0 | 44.10 | 25.64 | 0.0 |
| 19Q2 (2) | 25.85 | -9.46 | 0.0 | -28.10 | 23.66 | 0.0 | -22.86 | 28.85 | 0.0 | -17.92 | 31.21 | 0.0 | -2.33 | 15.88 | 0.0 | -2.00 | 14.89 | 0.0 | 0.11 | 22.22 | 0.0 | -17.24 | 31.04 | 0.0 | 14.91 | -15.24 | 0.0 | 120.00 | 2.22 | 0.0 | -25.00 | -91.67 | 0.0 | 35.10 | -18.54 | 0.0 |
| 19Q1 (1) | 28.55 | 0.0 | 0.0 | -36.81 | 0.0 | 0.0 | -32.13 | 0.0 | 0.0 | -26.05 | 0.0 | 0.0 | -2.77 | 0.0 | 0.0 | -2.35 | 0.0 | 0.0 | 0.09 | 0.0 | 0.0 | -25.00 | 0.0 | 0.0 | 17.59 | 0.0 | 0.0 | 117.39 | 0.0 | 0.0 | -13.04 | 0.0 | 0.0 | 43.09 | 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) | 33.08 | -0.93 | -36.02 | 0 | 5.59 | 42.92 | -35.82 | 0 | -34.54 | 0 | -14.63 | 0 | -11.78 | 0 | 0.34 | -38.18 | -29.61 | 0 | 22.94 | -2.92 | 101.56 | -16.9 | -0.00 | 0 | 0.00 | 0 | 51.13 | 59.58 |
| 2022 (9) | 33.39 | 13.49 | -7.22 | 0 | 3.91 | -45.56 | -5.96 | 0 | -6.23 | 0 | -4.19 | 0 | -3.28 | 0 | 0.55 | 71.88 | -1.30 | 0 | 23.63 | 8.99 | 122.22 | 23.81 | -22.22 | 0 | 0.18 | -83.33 | 32.04 | -36.63 |
| 2021 (8) | 29.42 | -15.97 | -39.52 | 0 | 7.18 | -7.12 | -39.97 | 0 | -39.86 | 0 | -15.47 | 0 | -12.80 | 0 | 0.32 | 6.67 | -31.79 | 0 | 21.68 | 22.07 | 98.72 | -7.95 | 1.28 | 0 | 1.07 | -47.42 | 50.56 | 64.74 |
| 2020 (7) | 35.01 | 6.67 | -35.54 | 0 | 7.73 | 52.32 | -33.17 | 0 | -26.57 | 0 | -9.41 | 0 | -7.96 | 0 | 0.30 | -31.82 | -24.15 | 0 | 17.76 | 16.92 | 107.25 | -3.04 | -7.25 | 0 | 2.04 | -18.27 | 30.69 | -13.72 |
| 2019 (6) | 32.82 | 15.24 | -21.75 | 0 | 5.07 | 42.45 | -19.66 | 0 | -15.73 | 0 | -8.00 | 0 | -6.86 | 0 | 0.44 | -4.35 | -14.03 | 0 | 15.19 | -11.63 | 110.61 | -3.76 | -10.61 | 0 | 2.49 | -8.55 | 35.57 | 17.2 |
| 2018 (5) | 28.48 | -14.55 | -19.69 | 0 | 3.56 | -6.87 | -17.03 | 0 | -13.96 | 0 | -7.58 | 0 | -6.38 | 0 | 0.46 | 9.52 | -13.23 | 0 | 17.19 | -12.25 | 114.93 | 14.93 | -14.93 | 0 | 2.73 | 0 | 30.35 | -13.46 |
| 2017 (4) | 33.33 | 4.06 | -9.58 | 0 | 3.83 | 76.78 | -9.68 | 0 | -9.11 | 0 | -4.73 | 0 | -3.82 | 0 | 0.42 | -44.74 | -5.74 | 0 | 19.59 | -31.69 | 100.00 | 23.64 | -0.00 | 0 | 0.00 | 0 | 35.07 | 71.16 |
| 2016 (3) | 32.03 | 7.02 | 8.45 | 14.65 | 2.16 | 12.52 | 10.46 | -16.45 | 8.40 | -18.53 | 8.24 | -12.71 | 6.43 | -11.8 | 0.76 | 7.04 | 12.67 | -12.62 | 28.68 | 2.47 | 80.88 | 37.5 | 19.12 | -53.57 | 0.00 | 0 | 20.49 | -7.2 |
| 2015 (2) | 29.93 | -4.62 | 7.37 | -48.39 | 1.92 | 101.28 | 12.52 | -23.89 | 10.31 | -20.51 | 9.44 | -40.59 | 7.29 | -38.64 | 0.71 | -22.83 | 14.50 | -17.24 | 27.99 | -9.3 | 58.82 | -32.46 | 41.18 | 219.12 | 0.00 | 0 | 22.08 | 56.26 |
| 2014 (1) | 31.38 | 0 | 14.28 | 0 | 0.96 | -2.31 | 16.45 | 0 | 12.97 | 0 | 15.89 | 0 | 11.88 | 0 | 0.92 | -33.81 | 17.52 | -2.72 | 30.86 | -16.82 | 87.10 | -5.19 | 12.90 | 58.63 | 0.00 | 0 | 14.13 | 22.34 |
