- 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) | 12.51 | 28.57 | 27.65 | 4.65 | 745.45 | 54.49 | 49.72 | 3555.88 | 2802.17 | 45.70 | 152433.33 | 1773.99 | 11.94 | 119500.0 | 2232.14 | 8.93 | 29666.67 | 2450.0 | 0.19 | 58.33 | 26.67 | 54.02 | 595.24 | 1413.17 | 31.64 | -14.3 | -14.25 | 9.39 | -76.52 | 105.57 | 90.78 | 51.3 | -66.22 | 13.03 | -25.54 | 337.25 |
| 23Q3 (19) | 9.73 | 101.45 | -2.6 | 0.55 | 115.28 | -93.34 | 1.36 | 118.11 | -71.0 | -0.03 | 99.55 | -101.3 | -0.01 | 99.05 | -101.89 | 0.03 | 104.0 | -93.02 | 0.12 | 0.0 | -29.41 | 7.77 | 758.47 | -19.65 | 36.92 | 7.48 | 1.9 | 40.00 | -15.0 | -77.07 | 60.00 | 13.33 | 180.57 | 17.50 | -1.96 | -28.37 |
| 23Q2 (18) | 4.83 | -26.82 | 13.92 | -3.60 | -350.0 | -22.87 | -7.51 | -178.07 | -195.67 | -6.61 | -168.14 | -110.51 | -1.05 | -161.05 | -64.06 | -0.75 | -157.25 | -66.67 | 0.12 | -7.69 | -20.0 | -1.18 | -107.69 | -141.55 | 34.35 | 5.01 | 3.53 | 47.06 | 688.24 | -60.18 | 52.94 | -50.98 | 488.24 | 17.85 | 7.47 | -27.2 |
| 23Q1 (17) | 6.60 | -32.65 | 88.57 | -0.80 | -126.58 | 88.81 | 9.62 | 622.83 | 308.23 | 9.70 | 455.31 | 357.29 | 1.72 | 407.14 | 312.35 | 1.31 | 444.74 | 325.86 | 0.13 | -13.33 | -18.75 | 15.35 | 329.97 | 4696.88 | 32.71 | -11.36 | -3.48 | -8.00 | 95.26 | -105.13 | 108.00 | -59.81 | 293.5 | 16.61 | 457.38 | 12.53 |
| 22Q4 (16) | 9.80 | -1.9 | 549.01 | 3.01 | -63.56 | 154.14 | -1.84 | -139.23 | 47.58 | -2.73 | -218.18 | -17.17 | -0.56 | -205.66 | -1.82 | -0.38 | -188.37 | 2.56 | 0.15 | -11.76 | -16.67 | 3.57 | -63.08 | 310.34 | 36.90 | 1.85 | 14.88 | -168.75 | -196.72 | -204.74 | 268.75 | 460.89 | 560.71 | 2.98 | -87.8 | -83.97 |
| 22Q3 (15) | 9.99 | 135.61 | 116.23 | 8.26 | 381.91 | 482.41 | 4.69 | 284.65 | 679.01 | 2.31 | 173.57 | 328.71 | 0.53 | 182.81 | 312.0 | 0.43 | 195.56 | 338.89 | 0.17 | 13.33 | -10.53 | 9.67 | 240.49 | 203.13 | 36.23 | 9.19 | 24.37 | 174.47 | 47.63 | -31.73 | -74.47 | -446.1 | 52.13 | 24.43 | -0.37 | 24.96 |
| 22Q2 (14) | 4.24 | 21.14 | 57.62 | -2.93 | 59.02 | 28.71 | -2.54 | 45.02 | -316.39 | -3.14 | 16.71 | -10366.67 | -0.64 | 20.99 | -6300.0 | -0.45 | 22.41 | 0 | 0.15 | -6.25 | 0.0 | 2.84 | 787.5 | -32.86 | 33.18 | -2.1 | 23.81 | 118.18 | -24.15 | -83.59 | -13.64 | 75.57 | 97.8 | 24.52 | 66.12 | 8.93 |
| 22Q1 (13) | 3.50 | 131.79 | -24.89 | -7.15 | -28.6 | -179.3 | -4.62 | -31.62 | -3453.85 | -3.77 | -61.8 | -750.0 | -0.81 | -47.27 | -836.36 | -0.58 | -48.72 | -680.0 | 0.16 | -11.11 | 6.67 | 0.32 | -63.22 | -93.22 | 33.89 | 5.51 | 41.74 | 155.81 | -3.29 | -92.92 | -55.81 | 4.32 | 97.34 | 14.76 | -20.6 | -37.16 |
| 21Q4 (12) | 1.51 | -67.32 | -83.76 | -5.56 | -157.41 | -263.53 | -3.51 | -333.33 | -168.69 | -2.33 | -130.69 | -123.23 | -0.55 | -120.0 | -130.22 | -0.39 | -116.67 | -126.35 | 0.18 | -5.26 | 20.0 | 0.87 | -72.73 | -91.36 | 32.12 | 10.26 | 39.05 | 161.11 | -36.96 | 138.89 | -58.33 | 62.5 | -279.17 | 18.59 | -4.91 | -26.17 |
| 21Q3 (11) | 4.62 | 71.75 | -61.6 | -2.16 | 47.45 | -138.37 | -0.81 | -32.79 | -121.49 | -1.01 | -3266.67 | -110.92 | -0.25 | -2400.0 | -112.69 | -0.18 | 0 | -111.54 | 0.19 | 26.67 | 11.76 | 3.19 | -24.59 | -60.22 | 29.13 | 8.69 | 19.34 | 255.56 | -64.51 | 70.37 | -155.56 | 74.91 | -211.11 | 19.55 | -13.15 | -12.96 |
| 21Q2 (10) | 2.69 | -42.27 | -68.9 | -4.11 | -60.55 | -20450.0 | -0.61 | -369.23 | -113.8 | -0.03 | -105.17 | -100.42 | -0.01 | -109.09 | -100.7 | 0.00 | -100.0 | -100.0 | 0.15 | 0.0 | 0.0 | 4.23 | -10.38 | -53.72 | 26.80 | 12.09 | -14.81 | 720.00 | -67.27 | 0 | -620.00 | 70.48 | -720.0 | 22.51 | -4.17 | 0 |
| 21Q1 (9) | 4.66 | -49.89 | 3.56 | -2.56 | -175.29 | -320.69 | -0.13 | -102.54 | -111.02 | 0.58 | -94.22 | -40.82 | 0.11 | -93.96 | -42.11 | 0.10 | -93.24 | -33.33 | 0.15 | 0.0 | 0.0 | 4.72 | -53.13 | -13.55 | 23.91 | 3.51 | -13.28 | 2200.00 | 3162.07 | 2320.0 | -2100.00 | -6550.0 | 0 | 23.49 | -6.71 | 0 |
| 20Q4 (8) | 9.30 | -22.69 | -31.21 | 3.40 | -39.61 | -32.41 | 5.11 | 35.54 | -23.96 | 10.03 | 8.43 | 108.96 | 1.82 | -7.61 | 38.93 | 1.48 | -5.13 | 51.02 | 0.15 | -11.76 | -25.0 | 10.07 | 25.56 | -0.2 | 23.10 | -5.37 | -35.56 | 67.44 | -55.04 | -9.38 | 32.56 | 165.12 | 27.27 | 25.18 | 12.11 | 26.34 |
| 20Q3 (7) | 12.03 | 39.08 | -16.11 | 5.63 | 28250.0 | -28.01 | 3.77 | -14.71 | -60.23 | 9.25 | 28.29 | 44.98 | 1.97 | 38.73 | 8.84 | 1.56 | 41.82 | 15.56 | 0.17 | 13.33 | -19.05 | 8.02 | -12.25 | -36.9 | 24.41 | -22.41 | -30.69 | 150.00 | 0 | 81.43 | -50.00 | -150.0 | -388.64 | 22.46 | 0 | 22.67 |
| 20Q2 (6) | 8.65 | 92.22 | -33.41 | -0.02 | -101.72 | -100.38 | 4.42 | 274.58 | -42.15 | 7.21 | 635.71 | 33.03 | 1.42 | 647.37 | -3.4 | 1.10 | 633.33 | -2.65 | 0.15 | 0.0 | -28.57 | 9.14 | 67.4 | -16.53 | 31.46 | 14.11 | -12.83 | -0.00 | -100.0 | -100.0 | 100.00 | 0 | 212.5 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 4.50 | -66.72 | -52.88 | 1.16 | -76.94 | 329.63 | 1.18 | -82.44 | -52.99 | 0.98 | -79.58 | -45.86 | 0.19 | -85.5 | -57.78 | 0.15 | -84.69 | -58.33 | 0.15 | -25.0 | -21.05 | 5.46 | -45.89 | -10.34 | 27.57 | -23.1 | -2.27 | 90.91 | 22.16 | 809.09 | 0.00 | -100.0 | -100.0 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 13.52 | -5.72 | 0.0 | 5.03 | -35.68 | 0.0 | 6.72 | -29.11 | 0.0 | 4.80 | -24.76 | 0.0 | 1.31 | -27.62 | 0.0 | 0.98 | -27.41 | 0.0 | 0.20 | -4.76 | 0.0 | 10.09 | -20.61 | 0.0 | 35.85 | 1.79 | 0.0 | 74.42 | -9.99 | 0.0 | 25.58 | 47.67 | 0.0 | 19.93 | 8.85 | 0.0 |
| 19Q3 (3) | 14.34 | 10.39 | 0.0 | 7.82 | 49.52 | 0.0 | 9.48 | 24.08 | 0.0 | 6.38 | 17.71 | 0.0 | 1.81 | 23.13 | 0.0 | 1.35 | 19.47 | 0.0 | 0.21 | 0.0 | 0.0 | 12.71 | 16.07 | 0.0 | 35.22 | -2.41 | 0.0 | 82.68 | 21.58 | 0.0 | 17.32 | -45.87 | 0.0 | 18.31 | -2.35 | 0.0 |
| 19Q2 (2) | 12.99 | 36.02 | 0.0 | 5.23 | 1837.04 | 0.0 | 7.64 | 204.38 | 0.0 | 5.42 | 199.45 | 0.0 | 1.47 | 226.67 | 0.0 | 1.13 | 213.89 | 0.0 | 0.21 | 10.53 | 0.0 | 10.95 | 79.8 | 0.0 | 36.09 | 27.93 | 0.0 | 68.00 | 580.0 | 0.0 | 32.00 | -64.44 | 0.0 | 18.75 | -14.11 | 0.0 |
| 19Q1 (1) | 9.55 | 0.0 | 0.0 | 0.27 | 0.0 | 0.0 | 2.51 | 0.0 | 0.0 | 1.81 | 0.0 | 0.0 | 0.45 | 0.0 | 0.0 | 0.36 | 0.0 | 0.0 | 0.19 | 0.0 | 0.0 | 6.09 | 0.0 | 0.0 | 28.21 | 0.0 | 0.0 | 10.00 | 0.0 | 0.0 | 90.00 | 0.0 | 0.0 | 21.83 | 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) | 8.96 | 29.29 | 0.82 | 90.7 | 4.94 | 4.1 | 18.33 | 0 | 16.83 | 0 | 12.46 | 0 | 9.41 | 0 | 0.55 | -12.7 | 23.82 | 463.12 | 31.64 | -14.25 | 4.43 | 0 | 95.40 | -33.95 | 0.15 | -48.59 | 15.81 | -5.95 |
| 2022 (9) | 6.93 | 106.87 | 0.43 | 0 | 4.74 | 13.27 | -0.96 | 0 | -1.74 | 0 | -1.48 | 0 | -0.96 | 0 | 0.63 | -4.55 | 4.23 | 34.29 | 36.90 | 14.88 | -44.44 | 0 | 144.44 | 0 | 0.29 | 11.38 | 16.81 | -19.38 |
| 2021 (8) | 3.35 | -61.36 | -3.61 | 0 | 4.19 | 1.14 | -1.34 | 0 | -0.79 | 0 | -0.66 | 0 | -0.46 | 0 | 0.66 | 11.86 | 3.15 | -61.44 | 32.12 | 39.05 | 272.55 | 280.98 | -170.59 | 0 | 0.26 | -21.51 | 20.85 | -8.95 |
| 2020 (7) | 8.67 | -31.52 | 2.59 | -44.66 | 4.14 | 37.27 | 3.60 | -46.11 | 6.86 | 47.21 | 5.26 | 4.16 | 4.11 | 9.02 | 0.59 | -26.25 | 8.17 | -18.63 | 23.10 | -35.56 | 71.54 | 2.24 | 27.69 | -7.78 | 0.33 | -0.52 | 22.90 | 16.48 |
| 2019 (6) | 12.66 | 35.98 | 4.68 | 62.5 | 3.02 | 119.84 | 6.68 | 32.02 | 4.66 | 96.62 | 5.05 | 51.65 | 3.77 | 53.88 | 0.80 | -22.33 | 10.04 | 52.12 | 35.85 | 0.82 | 69.97 | 23.06 | 30.03 | -30.4 | 0.33 | -6.83 | 19.66 | 23.26 |
| 2018 (5) | 9.31 | -20.43 | 2.88 | -56.5 | 1.37 | 32.98 | 5.06 | -21.79 | 2.37 | -52.41 | 3.33 | -63.33 | 2.45 | -62.07 | 1.03 | -20.77 | 6.60 | -14.17 | 35.56 | -4.41 | 56.86 | -44.42 | 43.14 | 0 | 0.35 | 0 | 15.95 | 24.32 |
| 2017 (4) | 11.70 | 5.5 | 6.62 | 11.07 | 1.03 | -15.33 | 6.47 | -19.33 | 4.98 | -13.09 | 9.08 | -13.36 | 6.46 | -10.65 | 1.30 | 4.0 | 7.69 | -17.84 | 37.20 | -15.36 | 102.30 | 37.74 | -2.30 | 0 | 0.00 | 0 | 12.83 | 3.89 |
| 2016 (3) | 11.09 | -9.76 | 5.96 | -10.38 | 1.22 | -20.75 | 8.02 | -8.66 | 5.73 | -5.6 | 10.48 | 3.35 | 7.23 | 3.14 | 1.25 | 8.7 | 9.36 | -10.09 | 43.95 | -7.94 | 74.27 | -1.81 | 25.73 | 5.63 | 0.00 | 0 | 12.35 | -1.67 |
| 2015 (2) | 12.29 | -12.03 | 6.65 | -21.86 | 1.54 | 8.51 | 8.78 | -60.25 | 6.07 | -60.69 | 10.14 | -65.9 | 7.01 | -66.79 | 1.15 | -16.06 | 10.41 | -55.83 | 47.74 | 13.42 | 75.64 | 96.28 | 24.36 | -60.37 | 0.00 | 0 | 12.56 | 10.18 |
| 2014 (1) | 13.97 | 0 | 8.51 | 0 | 1.42 | -8.27 | 22.09 | 0 | 15.44 | 0 | 29.74 | 0 | 21.11 | 0 | 1.37 | -1.44 | 23.57 | 77.22 | 42.09 | 7.21 | 38.54 | -35.92 | 61.46 | 54.6 | 0.00 | 0 | 11.40 | 5.95 |
