- 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) | 20.45 | -15.53 | -11.36 | 5.61 | -54.79 | -28.72 | 5.42 | -62.95 | 67.28 | 3.33 | -69.56 | -7.24 | 1.46 | -73.36 | -14.12 | 0.74 | -71.43 | -6.33 | 0.19 | -17.39 | 0.0 | 11.81 | -41.51 | 27.4 | 147.90 | 24.23 | 8.42 | 103.42 | 21.94 | -57.4 | -3.42 | -122.51 | 97.61 | 16.96 | 35.03 | 13.29 |
| 23Q3 (19) | 24.21 | 24.73 | 10.5 | 12.41 | 371.86 | 26.63 | 14.63 | 103.19 | -5.31 | 10.94 | 129.35 | -5.28 | 5.48 | 150.23 | -27.03 | 2.59 | 137.61 | -15.08 | 0.23 | 15.0 | -11.54 | 20.19 | 48.57 | 0.05 | 119.05 | -3.7 | -23.66 | 84.81 | 131.72 | 33.68 | 15.19 | -76.17 | -58.46 | 12.56 | -4.49 | 2.11 |
| 23Q2 (18) | 19.41 | 35.73 | 2.64 | 2.63 | 22.33 | -70.58 | 7.20 | 536.36 | -41.98 | 4.77 | 287.06 | -51.13 | 2.19 | 338.04 | -58.37 | 1.09 | 475.86 | -52.19 | 0.20 | 25.0 | -13.04 | 13.59 | 117.09 | -23.0 | 123.63 | -0.45 | -16.15 | 36.60 | 128.08 | -49.16 | 63.73 | -72.34 | 127.59 | 13.15 | -19.87 | -2.45 |
| 23Q1 (17) | 14.30 | -38.01 | -24.62 | 2.15 | -72.68 | -71.78 | -1.65 | -150.93 | -118.07 | -2.55 | -171.03 | -138.0 | -0.92 | -154.12 | -126.44 | -0.29 | -136.71 | -118.71 | 0.16 | -15.79 | -27.27 | 6.26 | -32.47 | -56.8 | 124.19 | -8.96 | -2.95 | -130.36 | -153.7 | -256.03 | 230.36 | 261.36 | 1278.65 | 16.41 | 9.62 | 11.94 |
| 22Q4 (16) | 23.07 | 5.29 | 23.37 | 7.87 | -19.69 | -13.8 | 3.24 | -79.03 | -63.92 | 3.59 | -68.92 | -52.95 | 1.70 | -77.36 | -71.43 | 0.79 | -74.1 | -69.26 | 0.19 | -26.92 | -42.42 | 9.27 | -54.06 | -25.78 | 136.41 | -12.53 | -0.99 | 242.76 | 282.63 | 138.83 | -142.76 | -490.53 | -8576.55 | 14.97 | 21.71 | 15.07 |
| 22Q3 (15) | 21.91 | 15.86 | 5.79 | 9.80 | 9.62 | -14.11 | 15.45 | 24.5 | 15.13 | 11.55 | 18.34 | 18.83 | 7.51 | 42.78 | -4.21 | 3.05 | 33.77 | -12.1 | 0.26 | 13.04 | -25.71 | 20.18 | 14.33 | 21.06 | 155.95 | 5.77 | 11.38 | 63.44 | -11.88 | -25.39 | 36.56 | 30.56 | 144.26 | 12.30 | -8.75 | 2.93 |
| 22Q2 (14) | 18.91 | -0.32 | -28.51 | 8.94 | 17.32 | -34.07 | 12.41 | 35.93 | -9.22 | 9.76 | 45.45 | -4.78 | 5.26 | 51.15 | -12.91 | 2.28 | 47.1 | -17.69 | 0.23 | 4.55 | -11.54 | 17.65 | 21.81 | -1.78 | 147.44 | 15.22 | 22.93 | 72.00 | -13.82 | -27.39 | 28.00 | 67.58 | 4324.0 | 13.48 | -8.05 | -10.67 |
| 22Q1 (13) | 18.97 | 1.44 | -17.66 | 7.62 | -16.54 | -28.11 | 9.13 | 1.67 | -12.72 | 6.71 | -12.06 | -14.19 | 3.48 | -41.51 | -30.54 | 1.55 | -39.69 | -24.02 | 0.22 | -33.33 | -12.0 | 14.49 | 16.01 | -1.29 | 127.96 | -7.13 | -0.6 | 83.54 | -17.81 | -17.58 | 16.71 | 1115.53 | 1329.77 | 14.66 | 12.68 | 3.82 |
| 21Q4 (12) | 18.70 | -9.71 | -28.08 | 9.13 | -19.98 | -32.92 | 8.98 | -33.08 | -26.33 | 7.63 | -21.5 | -34.62 | 5.95 | -24.11 | -40.5 | 2.57 | -25.94 | -26.57 | 0.33 | -5.71 | 10.0 | 12.49 | -25.07 | -19.73 | 137.78 | -1.59 | -21.72 | 101.65 | 19.53 | -8.91 | -1.65 | -110.99 | 85.8 | 13.01 | 8.87 | 16.58 |
| 21Q3 (11) | 20.71 | -21.7 | 0.78 | 11.41 | -15.86 | 3.35 | 13.42 | -1.83 | 7.53 | 9.72 | -5.17 | 7.88 | 7.84 | 29.8 | -6.22 | 3.47 | 25.27 | 18.03 | 0.35 | 34.62 | 9.37 | 16.67 | -7.23 | 7.48 | 140.01 | 16.73 | -31.21 | 85.03 | -14.24 | -3.96 | 14.97 | 2264.63 | 28.35 | 11.95 | -20.81 | -1.32 |
| 21Q2 (10) | 26.45 | 14.8 | 32.18 | 13.56 | 27.92 | 23.61 | 13.67 | 30.69 | 26.22 | 10.25 | 31.07 | 26.23 | 6.04 | 20.56 | -14.2 | 2.77 | 35.78 | -1.07 | 0.26 | 4.0 | -23.53 | 17.97 | 22.41 | 27.36 | 119.94 | -6.83 | -31.56 | 99.16 | -2.17 | -2.14 | 0.63 | 146.58 | 147.72 | 15.09 | 6.87 | 0 |
| 21Q1 (9) | 23.04 | -11.38 | 11.09 | 10.60 | -22.12 | -11.74 | 10.46 | -14.19 | -14.33 | 7.82 | -32.99 | -8.43 | 5.01 | -49.9 | -25.78 | 2.04 | -41.71 | -24.16 | 0.25 | -16.67 | -19.35 | 14.68 | -5.66 | -8.31 | 128.73 | -26.87 | -9.54 | 101.36 | -9.16 | 3.04 | -1.36 | 88.27 | -183.33 | 14.12 | 26.52 | 12.69 |
| 20Q4 (8) | 26.00 | 26.52 | 56.91 | 13.61 | 23.28 | 51.39 | 12.19 | -2.32 | 34.85 | 11.67 | 29.52 | 88.23 | 10.00 | 19.62 | 20.77 | 3.50 | 19.05 | 13.64 | 0.30 | -6.25 | -37.5 | 15.56 | 0.32 | 34.37 | 176.02 | -13.51 | 1.24 | 111.58 | 26.03 | 12.11 | -11.58 | -199.34 | -2567.18 | 11.16 | -7.84 | -7.08 |
| 20Q3 (7) | 20.55 | 2.7 | 13.85 | 11.04 | 0.64 | 15.6 | 12.48 | 15.24 | 36.39 | 9.01 | 10.96 | 14.49 | 8.36 | 18.75 | 1.21 | 2.94 | 5.0 | -5.16 | 0.32 | -5.88 | -17.95 | 15.51 | 9.92 | 24.88 | 203.52 | 16.14 | 14.25 | 88.54 | -12.62 | -15.04 | 11.66 | 979.17 | 357.35 | 12.11 | 0 | -18.78 |
| 20Q2 (6) | 20.01 | -3.52 | 21.57 | 10.97 | -8.66 | 163.07 | 10.83 | -11.3 | 99.82 | 8.12 | -4.92 | 114.25 | 7.04 | 4.3 | 175.0 | 2.80 | 4.09 | 166.67 | 0.34 | 9.68 | 30.77 | 14.11 | -11.87 | 32.12 | 175.24 | 23.15 | 5.96 | 101.33 | 3.01 | 31.85 | -1.33 | -181.34 | -105.73 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 20.74 | 25.17 | 32.61 | 12.01 | 33.59 | 674.84 | 12.21 | 35.07 | 440.27 | 8.54 | 37.74 | 414.46 | 6.75 | -18.48 | 864.29 | 2.69 | -12.66 | 448.98 | 0.31 | -35.42 | 72.22 | 16.01 | 38.26 | 44.89 | 142.30 | -18.15 | -6.32 | 98.37 | -1.17 | 47.55 | 1.63 | 247.28 | -94.5 | 12.53 | 4.33 | -45.8 |
| 19Q4 (4) | 16.57 | -8.2 | 0.0 | 8.99 | -5.86 | 0.0 | 9.04 | -1.2 | 0.0 | 6.20 | -21.22 | 0.0 | 8.28 | 0.24 | 0.0 | 3.08 | -0.65 | 0.0 | 0.48 | 23.08 | 0.0 | 11.58 | -6.76 | 0.0 | 173.86 | -2.4 | 0.0 | 99.53 | -4.49 | 0.0 | 0.47 | 110.36 | 0.0 | 12.01 | -19.45 | 0.0 |
| 19Q3 (3) | 18.05 | 9.66 | 0.0 | 9.55 | 129.02 | 0.0 | 9.15 | 68.82 | 0.0 | 7.87 | 107.65 | 0.0 | 8.26 | 222.66 | 0.0 | 3.10 | 195.24 | 0.0 | 0.39 | 50.0 | 0.0 | 12.42 | 16.29 | 0.0 | 178.13 | 7.71 | 0.0 | 104.21 | 35.59 | 0.0 | -4.53 | -119.57 | 0.0 | 14.91 | -35.65 | 0.0 |
| 19Q2 (2) | 16.46 | 5.24 | 0.0 | 4.17 | 169.03 | 0.0 | 5.42 | 139.82 | 0.0 | 3.79 | 128.31 | 0.0 | 2.56 | 265.71 | 0.0 | 1.05 | 114.29 | 0.0 | 0.26 | 44.44 | 0.0 | 10.68 | -3.35 | 0.0 | 165.38 | 8.87 | 0.0 | 76.85 | 15.28 | 0.0 | 23.15 | -21.87 | 0.0 | 23.17 | 0.22 | 0.0 |
| 19Q1 (1) | 15.64 | 0.0 | 0.0 | 1.55 | 0.0 | 0.0 | 2.26 | 0.0 | 0.0 | 1.66 | 0.0 | 0.0 | 0.70 | 0.0 | 0.0 | 0.49 | 0.0 | 0.0 | 0.18 | 0.0 | 0.0 | 11.05 | 0.0 | 0.0 | 151.90 | 0.0 | 0.0 | 66.67 | 0.0 | 0.0 | 29.63 | 0.0 | 0.0 | 23.12 | 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) | 20.01 | -3.75 | 6.09 | -29.68 | 5.38 | 17.92 | 7.06 | -32.5 | 4.67 | -42.91 | 8.15 | -54.62 | 3.78 | -52.03 | 0.72 | -22.58 | 13.52 | -14.16 | 147.90 | 8.42 | 86.21 | 4.21 | 13.79 | -20.15 | 3.12 | -12.49 | 14.63 | 6.55 |
| 2022 (9) | 20.79 | -3.57 | 8.66 | -20.62 | 4.56 | 41.87 | 10.46 | -8.57 | 8.18 | -6.73 | 17.96 | -26.36 | 7.88 | -20.4 | 0.93 | -15.45 | 15.75 | 3.89 | 136.41 | -0.99 | 82.73 | -13.18 | 17.27 | 270.53 | 3.56 | -19.85 | 13.73 | 3.23 |
| 2021 (8) | 21.56 | -2.13 | 10.91 | -8.78 | 3.22 | 8.26 | 11.44 | -4.27 | 8.77 | -7.39 | 24.39 | -22.05 | 9.90 | -14.66 | 1.10 | -8.33 | 15.16 | -0.85 | 137.78 | -21.72 | 95.29 | -4.71 | 4.66 | 0 | 4.44 | 226.21 | 13.30 | 13.38 |
| 2020 (7) | 22.03 | 30.36 | 11.96 | 58.83 | 2.97 | -13.54 | 11.95 | 54.79 | 9.47 | 63.28 | 31.29 | 54.67 | 11.60 | 37.44 | 1.20 | -13.67 | 15.29 | 31.7 | 176.02 | 1.24 | 100.00 | 2.59 | 0.00 | 0 | 1.36 | -34.4 | 11.73 | -26.78 |
| 2019 (6) | 16.90 | -17.36 | 7.53 | 19.71 | 3.44 | -45.21 | 7.72 | -8.64 | 5.80 | -3.81 | 20.23 | 64.34 | 8.44 | 37.91 | 1.39 | 46.32 | 11.61 | -23.97 | 173.86 | 44.25 | 97.47 | 30.97 | 2.53 | -90.11 | 2.08 | 4119.1 | 16.02 | -21.74 |
| 2018 (5) | 20.45 | 21.15 | 6.29 | 253.37 | 6.27 | -28.97 | 8.45 | 117.22 | 6.03 | 115.36 | 12.31 | 223.1 | 6.12 | 184.65 | 0.95 | 48.44 | 15.27 | 13.11 | 120.53 | 11.91 | 74.42 | 61.25 | 25.58 | -53.24 | 0.05 | 0 | 20.47 | -18.74 |
| 2017 (4) | 16.88 | -3.21 | 1.78 | 60.36 | 8.83 | 12.64 | 3.89 | 45.15 | 2.80 | 83.01 | 3.81 | 79.72 | 2.15 | 38.71 | 0.64 | -4.48 | 13.50 | 16.38 | 107.70 | -7.15 | 46.15 | 9.62 | 54.70 | -5.52 | 0.00 | 0 | 25.19 | -9.03 |
| 2016 (3) | 17.44 | 1.45 | 1.11 | -79.02 | 7.84 | 79.96 | 2.68 | -70.29 | 1.53 | -83.98 | 2.12 | -82.58 | 1.55 | -76.66 | 0.67 | 1.52 | 11.60 | -18.25 | 115.99 | 20.87 | 42.11 | -28.46 | 57.89 | 40.7 | 0.00 | 0 | 27.69 | 69.46 |
| 2015 (2) | 17.19 | 3.87 | 5.29 | 58.86 | 4.36 | 20.2 | 9.02 | -46.53 | 9.55 | -37.29 | 12.17 | -39.84 | 6.64 | -37.54 | 0.66 | -1.49 | 14.19 | -34.03 | 95.96 | 4.07 | 58.85 | 197.67 | 41.15 | -48.71 | 0.00 | 0 | 16.34 | -19.86 |
| 2014 (1) | 16.55 | 0 | 3.33 | 0 | 3.62 | -49.42 | 16.87 | 0 | 15.23 | 0 | 20.23 | 0 | 10.63 | 0 | 0.67 | 24.07 | 21.51 | 113.6 | 92.21 | -12.32 | 19.77 | 0 | 80.23 | -89.97 | 0.00 | 0 | 20.39 | -36.81 |
