- 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) | 14.98 | 206.97 | 20.13 | 11.28 | 1749.18 | 56.67 | 6.96 | 186.42 | 43.8 | 5.59 | 186.67 | 44.44 | 6.13 | 222.63 | 38.06 | 3.23 | 199.07 | 30.24 | 0.57 | 3.64 | -6.56 | 7.13 | 178.52 | 40.08 | 88.79 | -5.29 | 14.79 | 163.16 | 498.25 | 10.24 | -63.16 | -177.19 | -31.58 | 2.03 | -14.35 | -38.86 |
| 23Q3 (19) | 4.88 | 2.52 | 29.44 | 0.61 | -67.55 | 306.67 | 2.43 | -23.82 | 68.75 | 1.95 | -18.07 | 66.67 | 1.90 | -35.81 | 23.38 | 1.08 | -41.3 | 35.0 | 0.55 | -28.57 | -3.51 | 2.56 | -21.95 | 46.29 | 93.75 | 51.8 | -3.29 | 27.27 | -55.37 | 118.18 | 81.82 | 84.09 | -6.49 | 2.37 | 64.58 | 43.64 |
| 23Q2 (18) | 4.76 | -46.52 | -5.56 | 1.88 | -55.34 | -33.1 | 3.19 | -16.71 | 87.65 | 2.38 | -22.98 | 103.42 | 2.96 | 16.08 | 17.0 | 1.84 | 21.05 | 119.05 | 0.77 | 57.14 | 26.23 | 3.28 | -17.17 | 69.95 | 61.76 | 4.54 | -62.63 | 61.11 | -46.53 | -62.39 | 44.44 | 722.22 | 171.11 | 1.44 | -33.02 | 24.14 |
| 23Q1 (17) | 8.90 | -28.63 | 112.41 | 4.21 | -41.53 | 82.25 | 3.83 | -20.87 | 148.7 | 3.09 | -20.16 | 153.28 | 2.55 | -42.57 | -20.31 | 1.52 | -38.71 | 70.79 | 0.49 | -19.67 | -25.76 | 3.96 | -22.2 | 131.58 | 59.08 | -23.62 | -83.04 | 114.29 | -22.78 | -25.27 | -7.14 | 85.12 | 84.82 | 2.15 | -35.24 | 133.7 |
| 22Q4 (16) | 12.47 | 230.77 | 237.03 | 7.20 | 4700.0 | 599.03 | 4.84 | 236.11 | 198.77 | 3.87 | 230.77 | 182.48 | 4.44 | 188.31 | 44.16 | 2.48 | 210.0 | 140.78 | 0.61 | 7.02 | -12.86 | 5.09 | 190.86 | 194.22 | 77.35 | -20.21 | -69.15 | 148.00 | 1084.0 | 146.67 | -48.00 | -154.86 | -244.0 | 3.32 | 101.21 | 161.42 |
| 22Q3 (15) | 3.77 | -25.2 | -25.79 | 0.15 | -94.66 | -93.8 | 1.44 | -15.29 | -46.67 | 1.17 | 0.0 | -45.83 | 1.54 | -39.13 | -53.89 | 0.80 | -4.76 | -41.18 | 0.57 | -6.56 | -6.56 | 1.75 | -9.33 | -35.9 | 96.94 | -41.34 | -49.07 | 12.50 | -92.31 | -85.83 | 87.50 | 240.0 | 643.75 | 1.65 | 42.24 | 7.14 |
| 22Q2 (14) | 5.04 | 20.29 | -16.14 | 2.81 | 21.65 | -7.57 | 1.70 | 10.39 | -48.95 | 1.17 | -4.1 | -59.23 | 2.53 | -20.94 | -42.24 | 0.84 | -5.62 | -56.92 | 0.61 | -7.58 | -7.58 | 1.93 | 12.87 | -45.01 | 165.26 | -52.55 | 41.61 | 162.50 | 6.25 | 80.56 | -62.50 | -32.81 | -725.0 | 1.16 | 26.09 | -32.95 |
| 22Q1 (13) | 4.19 | 13.24 | -9.89 | 2.31 | 124.27 | -1.28 | 1.54 | -4.94 | -37.65 | 1.22 | -10.95 | -38.07 | 3.20 | 3.9 | -18.99 | 0.89 | -13.59 | -48.85 | 0.66 | -5.71 | -20.48 | 1.71 | -1.16 | -33.98 | 348.30 | 38.9 | 143.46 | 152.94 | 154.9 | 61.44 | -47.06 | -241.18 | -994.12 | 0.92 | -27.56 | -29.77 |
| 21Q4 (12) | 3.70 | -27.17 | 25.42 | 1.03 | -57.44 | 94.34 | 1.62 | -40.0 | 138.24 | 1.37 | -36.57 | 149.09 | 3.08 | -7.78 | 238.46 | 1.03 | -24.26 | 106.0 | 0.70 | 14.75 | -17.65 | 1.73 | -36.63 | 113.58 | 250.75 | 31.73 | 82.36 | 60.00 | -32.0 | -20.0 | 33.33 | 183.33 | 33.33 | 1.27 | -17.53 | -11.81 |
| 21Q3 (11) | 5.08 | -15.47 | -11.81 | 2.42 | -20.39 | 54.14 | 2.70 | -18.92 | 66.67 | 2.16 | -24.74 | 68.75 | 3.34 | -23.74 | 154.96 | 1.36 | -30.26 | 67.9 | 0.61 | -7.58 | -4.69 | 2.73 | -22.22 | 68.52 | 190.35 | 63.11 | 265.92 | 88.24 | -1.96 | -11.76 | 11.76 | 17.65 | 0 | 1.54 | -10.98 | -36.1 |
| 21Q2 (10) | 6.01 | 29.25 | 5.25 | 3.04 | 29.91 | 54.31 | 3.33 | 34.82 | 154.2 | 2.87 | 45.69 | 175.96 | 4.38 | 10.89 | 247.62 | 1.95 | 12.07 | 178.57 | 0.66 | -20.48 | 11.86 | 3.51 | 35.52 | 120.75 | 116.70 | -18.43 | 64.99 | 90.00 | -5.0 | -40.0 | 10.00 | 90.0 | 120.0 | 1.73 | 32.06 | 0 |
| 21Q1 (9) | 4.65 | 57.63 | 17.42 | 2.34 | 341.51 | 28.57 | 2.47 | 263.24 | 32.09 | 1.97 | 258.18 | 32.21 | 3.95 | 334.07 | 25.8 | 1.74 | 248.0 | 2.35 | 0.83 | -2.35 | -21.7 | 2.59 | 219.75 | 30.81 | 143.06 | 4.04 | 0.82 | 94.74 | 26.32 | -5.26 | 5.26 | -78.95 | 0 | 1.31 | -9.03 | 4.8 |
| 20Q4 (8) | 2.95 | -48.78 | -63.8 | 0.53 | -66.24 | -86.98 | 0.68 | -58.02 | -77.63 | 0.55 | -57.03 | -68.93 | 0.91 | -30.53 | -51.85 | 0.50 | -38.27 | -54.13 | 0.85 | 32.81 | 54.55 | 0.81 | -50.0 | -76.72 | 137.50 | 164.32 | 153.64 | 75.00 | -25.0 | -45.0 | 25.00 | 0 | 168.75 | 1.44 | -40.25 | -35.43 |
| 20Q3 (7) | 5.76 | 0.88 | 55.68 | 1.57 | -20.3 | 6.8 | 1.62 | 23.66 | 6.58 | 1.28 | 23.08 | -15.79 | 1.31 | 3.97 | -57.05 | 0.81 | 15.71 | -50.31 | 0.64 | 8.47 | -35.35 | 1.62 | 1.89 | 0.0 | 52.02 | -26.45 | -62.16 | 100.00 | -33.33 | 0.0 | 0.00 | 100.0 | 0 | 2.41 | 0 | 53.5 |
| 20Q2 (6) | 5.71 | 44.19 | 56.01 | 1.97 | 8.24 | 936.84 | 1.31 | -29.95 | 13000.0 | 1.04 | -30.2 | 0 | 1.26 | -59.87 | 0 | 0.70 | -58.82 | 600.0 | 0.59 | -44.34 | 0.0 | 1.59 | -19.7 | 511.54 | 70.73 | -50.16 | 6.84 | 150.00 | 50.0 | 0 | -50.00 | 0 | 0 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 3.96 | -51.41 | 15.45 | 1.82 | -55.28 | 5966.67 | 1.87 | -38.49 | 392.19 | 1.49 | -15.82 | 332.81 | 3.14 | 66.14 | 441.3 | 1.70 | 55.96 | 4350.0 | 1.06 | 92.73 | 112.0 | 1.98 | -43.1 | 0 | 141.90 | 161.76 | 20.81 | 100.00 | -26.67 | 0 | 0.00 | 100.0 | -100.0 | 1.25 | -43.95 | -25.6 |
| 19Q4 (4) | 8.15 | 120.27 | 0.0 | 4.07 | 176.87 | 0.0 | 3.04 | 100.0 | 0.0 | 1.77 | 16.45 | 0.0 | 1.89 | -38.03 | 0.0 | 1.09 | -33.13 | 0.0 | 0.55 | -44.44 | 0.0 | 3.48 | 114.81 | 0.0 | 54.21 | -60.56 | 0.0 | 136.36 | 36.36 | 0.0 | -36.36 | 0 | 0.0 | 2.23 | 42.04 | 0.0 |
| 19Q3 (3) | 3.70 | 1.09 | 0.0 | 1.47 | 673.68 | 0.0 | 1.52 | 15100.0 | 0.0 | 1.52 | 0 | 0.0 | 3.05 | 0 | 0.0 | 1.63 | 1530.0 | 0.0 | 0.99 | 67.8 | 0.0 | 1.62 | 523.08 | 0.0 | 137.46 | 107.64 | 0.0 | 100.00 | 0 | 0.0 | 0.00 | 0 | 0.0 | 1.57 | -17.37 | 0.0 |
| 19Q2 (2) | 3.66 | 6.71 | 0.0 | 0.19 | 533.33 | 0.0 | 0.01 | 101.56 | 0.0 | 0.00 | 100.0 | 0.0 | 0.00 | 100.0 | 0.0 | 0.10 | 350.0 | 0.0 | 0.59 | 18.0 | 0.0 | 0.26 | 0 | 0.0 | 66.20 | -43.64 | 0.0 | 0.00 | 0 | 0.0 | 0.00 | -100.0 | 0.0 | 1.90 | 13.1 | 0.0 |
| 19Q1 (1) | 3.43 | 0.0 | 0.0 | 0.03 | 0.0 | 0.0 | -0.64 | 0.0 | 0.0 | -0.64 | 0.0 | 0.0 | -0.92 | 0.0 | 0.0 | -0.04 | 0.0 | 0.0 | 0.50 | 0.0 | 0.0 | 0.00 | 0.0 | 0.0 | 117.46 | 0.0 | 0.0 | -0.00 | 0.0 | 0.0 | 100.00 | 0.0 | 0.0 | 1.68 | 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) | 8.42 | 47.2 | 4.63 | 61.89 | 0.00 | 0 | 4.18 | 98.1 | 3.30 | 102.45 | 13.42 | 15.09 | 7.35 | 47.29 | 2.21 | -19.64 | 4.26 | 79.75 | 88.79 | 14.79 | 110.98 | -17.7 | -10.98 | 0 | 0.21 | 0 | 1.96 | 28.95 |
| 2022 (9) | 5.72 | 21.19 | 2.86 | 37.5 | 0.03 | -6.57 | 2.11 | -12.81 | 1.63 | -18.91 | 11.66 | -20.68 | 4.99 | -3.67 | 2.75 | 11.34 | 2.37 | -7.78 | 77.35 | -69.15 | 134.85 | 56.95 | -36.36 | 0 | 0.00 | 0 | 1.52 | 6.29 |
| 2021 (8) | 4.72 | 9.01 | 2.08 | 44.44 | 0.03 | 0 | 2.42 | 75.36 | 2.01 | 82.73 | 14.70 | 125.46 | 5.18 | 45.51 | 2.47 | -17.94 | 2.57 | 70.2 | 250.75 | 82.36 | 85.92 | -19.45 | 14.08 | 0 | 0.00 | 0 | 1.43 | -15.88 |
| 2020 (7) | 4.33 | -4.42 | 1.44 | 2.86 | 0.00 | 0 | 1.38 | 33.98 | 1.10 | 42.86 | 6.52 | 35.27 | 3.56 | 36.92 | 3.01 | 18.04 | 1.51 | 11.85 | 137.50 | 153.64 | 106.67 | -22.05 | -3.33 | 0 | 0.00 | 0 | 1.70 | -5.56 |
| 2019 (6) | 4.53 | 54.61 | 1.40 | 16.67 | 0.00 | 0 | 1.03 | -7.21 | 0.77 | -31.86 | 4.82 | -75.46 | 2.60 | -50.1 | 2.55 | -32.54 | 1.35 | -5.59 | 54.21 | -80.77 | 136.84 | 27.92 | -36.84 | 0 | 0.00 | 0 | 1.80 | 66.67 |
| 2018 (5) | 2.93 | -19.51 | 1.20 | -6.98 | 0.03 | -17.95 | 1.11 | -22.38 | 1.13 | -20.98 | 19.64 | -16.64 | 5.21 | -22.59 | 3.78 | -13.1 | 1.43 | -11.18 | 281.97 | -36.98 | 106.98 | 17.41 | -6.98 | 0 | 0.00 | 0 | 1.08 | -26.53 |
| 2017 (4) | 3.64 | -33.7 | 1.29 | 37.23 | 0.03 | -54.16 | 1.43 | 5.93 | 1.43 | 0.7 | 23.56 | 97.49 | 6.73 | -10.15 | 4.35 | -15.04 | 1.61 | 11.03 | 447.46 | 441.52 | 91.11 | 30.16 | 11.11 | -62.96 | 0.00 | 0 | 1.47 | -50.67 |
| 2016 (3) | 5.49 | -12.72 | 0.94 | -42.33 | 0.07 | 10.0 | 1.35 | -27.81 | 1.42 | -16.96 | 11.93 | -32.45 | 7.49 | -10.3 | 5.12 | 12.28 | 1.45 | -29.95 | 82.63 | 84.81 | 70.00 | -19.23 | 30.00 | 125.0 | 0.00 | 0 | 2.98 | -3.56 |
| 2015 (2) | 6.29 | 20.5 | 1.63 | 0 | 0.06 | -40.75 | 1.87 | 648.0 | 1.71 | 1215.38 | 17.66 | 1906.82 | 8.35 | 1364.91 | 4.56 | 76.74 | 2.07 | 392.86 | 44.71 | -80.14 | 86.67 | 0 | 13.33 | -93.33 | 0.00 | 0 | 3.09 | -11.21 |
| 2014 (1) | 5.22 | 0 | -0.18 | 0 | 0.11 | 0 | 0.25 | 0 | 0.13 | 0 | 0.88 | 0 | 0.57 | 0 | 2.58 | 14.16 | 0.42 | -90.32 | 225.17 | 147.93 | -100.00 | 0 | 200.00 | 557.14 | 0.00 | 0 | 3.48 | -41.51 |
