- 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) | 6.49 | 72.15 | 20.86 | -14.06 | -20.17 | -128.62 | -65.71 | -206.98 | -60.23 | -52.46 | -206.47 | -56.5 | -10.60 | -214.1 | -48.04 | -2.55 | -198.46 | -47.4 | 0.05 | 0.0 | -16.67 | -51.22 | -167.13 | -53.17 | 279.09 | 1.22 | -2.87 | 21.16 | 209.79 | 44.81 | 78.31 | -34.02 | -7.46 | 26.51 | 3.68 | 52.53 |
| 23Q3 (19) | 3.77 | -16.04 | 148.03 | -11.70 | 23.03 | -104.19 | 61.42 | 75.24 | -13.02 | 49.27 | 85.09 | -12.36 | 9.29 | 92.74 | -37.53 | 2.59 | 82.39 | -36.52 | 0.05 | 25.0 | -28.57 | 76.30 | 51.42 | 0.49 | 275.73 | -16.84 | 4.86 | -19.28 | 56.01 | -133.95 | 118.67 | -16.83 | 10.02 | 25.57 | 1.15 | 57.26 |
| 23Q2 (18) | 4.49 | -69.54 | -8.55 | -15.20 | -1166.67 | -2275.0 | 35.05 | 857.02 | 5.38 | 26.62 | 923.85 | 4.03 | 4.82 | 845.1 | -39.9 | 1.42 | 294.44 | -37.17 | 0.04 | -20.0 | -50.0 | 50.39 | 602.79 | 33.94 | 331.58 | 10.59 | 12.89 | -43.82 | -289.89 | -1944.94 | 142.70 | 85.51 | 40.69 | 25.28 | 9.77 | 88.66 |
| 23Q1 (17) | 14.74 | 174.49 | 2881.13 | -1.20 | 80.49 | 87.06 | -4.63 | 88.71 | -113.27 | 2.60 | 107.76 | -90.67 | 0.51 | 107.12 | -90.89 | 0.36 | 120.81 | -77.91 | 0.05 | -16.67 | 0.0 | 7.17 | 121.44 | -82.57 | 299.83 | 4.35 | 17.81 | 23.08 | 57.89 | 185.85 | 76.92 | -9.09 | -38.86 | 23.03 | 32.51 | 15.32 |
| 22Q4 (16) | 5.37 | 253.29 | 3083.33 | -6.15 | -7.33 | 1.6 | -41.01 | -158.08 | -273.84 | -33.52 | -159.62 | -274.94 | -7.16 | -148.15 | -186.4 | -1.73 | -142.4 | -193.22 | 0.06 | -14.29 | -25.0 | -33.44 | -144.04 | -427.44 | 287.33 | 9.27 | 3.77 | 14.62 | 277.38 | -74.58 | 84.62 | -21.55 | 99.1 | 17.38 | 6.89 | 24.77 |
| 22Q3 (15) | 1.52 | -69.04 | -72.11 | -5.73 | -795.31 | -451.53 | 70.61 | 112.3 | 5130.37 | 56.22 | 119.7 | 4585.0 | 14.87 | 85.41 | 3204.44 | 4.08 | 80.53 | 1754.55 | 0.07 | -12.5 | -36.36 | 75.93 | 101.83 | 1515.53 | 262.96 | -10.48 | 4.89 | -8.24 | -284.52 | -107.21 | 107.87 | 6.35 | 855.06 | 16.26 | 21.34 | 45.7 |
| 22Q2 (14) | 4.91 | 1026.42 | 3676.92 | -0.64 | 93.1 | 84.04 | 33.26 | -4.7 | 289.52 | 25.59 | -8.21 | 281.49 | 8.02 | 43.21 | 278.62 | 2.26 | 38.65 | 260.28 | 0.08 | 60.0 | -27.27 | 37.62 | -8.53 | 367.19 | 293.73 | 15.41 | 34.81 | -2.14 | 92.03 | -109.45 | 101.43 | -19.38 | 31.16 | 13.40 | -32.9 | 6.18 |
| 22Q1 (13) | -0.53 | -194.44 | -112.65 | -9.27 | -48.32 | -186.11 | 34.90 | 418.14 | -68.99 | 27.88 | 411.86 | -74.89 | 5.60 | 324.0 | -84.91 | 1.63 | 376.27 | -86.06 | 0.05 | -37.5 | -50.0 | 41.13 | 748.74 | -64.72 | 254.50 | -8.09 | 36.81 | -26.88 | -146.75 | -797.44 | 125.81 | 196.02 | 22.15 | 19.97 | 43.36 | 19.94 |
| 21Q4 (12) | -0.18 | -103.3 | -103.77 | -6.25 | -483.44 | -551.04 | -10.97 | -912.59 | 13.49 | -8.94 | -845.0 | 10.96 | -2.50 | -655.56 | 33.51 | -0.59 | -368.18 | 39.18 | 0.08 | -27.27 | -27.27 | -6.34 | -234.89 | 24.16 | 276.90 | 10.45 | 2.92 | 57.50 | -49.69 | 762.5 | 42.50 | 397.5 | -54.46 | 13.93 | 24.82 | -3.13 |
| 21Q3 (11) | 5.45 | 4092.31 | 572.84 | 1.63 | 140.65 | 119.29 | 1.35 | 107.69 | 104.69 | 1.20 | 108.51 | 105.22 | 0.45 | 110.02 | 108.62 | 0.22 | 115.6 | 114.47 | 0.11 | 0.0 | 57.14 | 4.70 | 133.38 | 121.01 | 250.71 | 15.06 | 7.82 | 114.29 | 404.2 | 296.99 | -14.29 | -118.47 | -120.5 | 11.16 | -11.57 | -44.03 |
| 21Q2 (10) | 0.13 | -96.9 | 100.53 | -4.01 | -23.77 | 87.16 | -17.55 | -115.59 | 68.71 | -14.10 | -112.7 | 66.85 | -4.49 | -112.1 | 32.99 | -1.41 | -112.06 | 34.11 | 0.11 | 10.0 | 120.0 | -14.08 | -112.08 | 70.45 | 217.89 | 17.13 | 2.68 | 22.67 | 856.72 | -58.94 | 77.33 | -24.92 | 76.76 | 12.62 | -24.2 | 0 |
| 21Q1 (9) | 4.19 | -12.16 | 422.31 | -3.24 | -237.5 | 56.39 | 112.55 | 987.62 | 7862.07 | 111.02 | 1205.78 | 9053.23 | 37.11 | 1086.97 | 11345.45 | 11.69 | 1305.15 | 0 | 0.10 | -9.09 | 11.11 | 116.58 | 1494.5 | 3147.35 | 186.03 | -30.86 | -0.05 | -3.00 | -144.93 | -100.52 | 103.00 | 10.35 | 122.89 | 16.65 | 15.79 | -8.97 |
| 20Q4 (8) | 4.77 | 488.89 | 450.74 | -0.96 | 88.64 | 88.97 | -12.68 | 55.97 | 58.23 | -10.04 | 56.33 | 58.65 | -3.76 | 27.97 | 40.79 | -0.97 | 36.18 | 56.11 | 0.11 | 57.14 | 10.0 | -8.36 | 62.63 | 66.56 | 269.05 | 15.71 | 47.41 | 6.67 | -76.84 | -77.04 | 93.33 | 33.91 | 29.55 | 14.38 | -27.88 | -15.06 |
| 20Q3 (7) | 0.81 | 103.33 | -63.01 | -8.45 | 72.94 | -161.61 | -28.80 | 48.65 | -16841.18 | -22.99 | 45.94 | -7316.13 | -5.22 | 22.09 | -5120.0 | -1.52 | 28.97 | -2271.43 | 0.07 | 40.0 | -41.67 | -22.37 | 53.05 | -704.59 | 232.53 | 9.58 | 41.17 | 28.79 | -47.86 | -97.6 | 69.70 | 59.31 | 105.81 | 19.94 | 0 | 31.44 |
| 20Q2 (6) | -24.30 | -1769.23 | -464.86 | -31.23 | -320.32 | -3161.76 | -56.09 | -3768.28 | -488.7 | -42.53 | -3329.84 | -530.47 | -6.70 | -1930.3 | -366.93 | -2.14 | 0 | -296.33 | 0.05 | -44.44 | -50.0 | -47.65 | -1427.3 | -354.4 | 212.21 | 14.02 | 40.93 | 55.21 | -90.4 | 728.13 | 43.75 | 109.72 | -53.12 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | -1.30 | 4.41 | -120.47 | -7.43 | 14.6 | -524.57 | -1.45 | 95.22 | -113.49 | -1.24 | 94.89 | -114.29 | -0.33 | 94.8 | -112.89 | 0.00 | 100.0 | -100.0 | 0.09 | -10.0 | -18.18 | 3.59 | 114.36 | -75.66 | 186.12 | 1.97 | 16.96 | 575.00 | 1880.56 | 3637.5 | -450.00 | -724.63 | -631.82 | 18.29 | 8.03 | 20.65 |
| 19Q4 (4) | -1.36 | -162.1 | 0.0 | -8.70 | -169.35 | 0.0 | -30.36 | -17758.82 | 0.0 | -24.28 | -7732.26 | 0.0 | -6.35 | -6250.0 | 0.0 | -2.21 | -3257.14 | 0.0 | 0.10 | -16.67 | 0.0 | -25.00 | -775.68 | 0.0 | 182.52 | 10.81 | 0.0 | 29.03 | -97.58 | 0.0 | 72.04 | 106.0 | 0.0 | 16.93 | 11.6 | 0.0 |
| 19Q3 (3) | 2.19 | -67.12 | 0.0 | -3.23 | -416.67 | 0.0 | -0.17 | -101.18 | 0.0 | -0.31 | -103.14 | 0.0 | -0.10 | -103.98 | 0.0 | 0.07 | -93.58 | 0.0 | 0.12 | 20.0 | 0.0 | 3.70 | -80.25 | 0.0 | 164.72 | 9.39 | 0.0 | 1200.00 | 17900.0 | 0.0 | -1200.00 | -1385.71 | 0.0 | 15.17 | -11.39 | 0.0 |
| 19Q2 (2) | 6.66 | 4.88 | 0.0 | 1.02 | -41.71 | 0.0 | 14.43 | 34.23 | 0.0 | 9.88 | 13.82 | 0.0 | 2.51 | -1.95 | 0.0 | 1.09 | 4.81 | 0.0 | 0.10 | -9.09 | 0.0 | 18.73 | 26.98 | 0.0 | 150.58 | -5.37 | 0.0 | 6.67 | -56.67 | 0.0 | 93.33 | 10.3 | 0.0 | 17.12 | 12.93 | 0.0 |
| 19Q1 (1) | 6.35 | 0.0 | 0.0 | 1.75 | 0.0 | 0.0 | 10.75 | 0.0 | 0.0 | 8.68 | 0.0 | 0.0 | 2.56 | 0.0 | 0.0 | 1.04 | 0.0 | 0.0 | 0.11 | 0.0 | 0.0 | 14.75 | 0.0 | 0.0 | 159.13 | 0.0 | 0.0 | 15.38 | 0.0 | 0.0 | 84.62 | 0.0 | 0.0 | 15.16 | 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) | 7.47 | 145.72 | -10.44 | 0 | 6.51 | 109.05 | 4.85 | -81.87 | 5.23 | -74.9 | 4.11 | -80.6 | 2.16 | -64.47 | 0.20 | -25.93 | 19.08 | -41.22 | 279.09 | -2.87 | -215.09 | 0 | 315.09 | 166.06 | 2.29 | 15.6 | 25.10 | 53.42 |
| 2022 (9) | 3.04 | 18.29 | -4.96 | 0 | 3.12 | 20.51 | 26.75 | 36.2 | 20.84 | 1.36 | 21.19 | -31.11 | 6.08 | -29.3 | 0.27 | -32.5 | 32.46 | 38.42 | 287.33 | 3.77 | -18.43 | 0 | 118.43 | 4.38 | 1.98 | -12.0 | 16.36 | 22.0 |
| 2021 (8) | 2.57 | 0 | -2.67 | 0 | 2.59 | -33.02 | 19.64 | 0 | 20.56 | 0 | 30.76 | 0 | 8.60 | 0 | 0.40 | 25.0 | 23.45 | 0 | 276.90 | 2.92 | -13.46 | 0 | 113.46 | 113.74 | 2.25 | -28.88 | 13.41 | -22.66 |
| 2020 (7) | -2.49 | 0 | -9.28 | 0 | 3.86 | 35.32 | -19.87 | 0 | -15.50 | 0 | -15.83 | 0 | -4.50 | 0 | 0.32 | -20.0 | -14.31 | 0 | 269.05 | 47.41 | 46.92 | -85.44 | 53.08 | 0 | 3.17 | -7.26 | 17.34 | 8.31 |
| 2019 (6) | 3.53 | -51.18 | -2.15 | 0 | 2.85 | 49.09 | -0.68 | 0 | -0.95 | 0 | -1.10 | 0 | 0.03 | -99.52 | 0.40 | -21.57 | 3.58 | -78.6 | 182.52 | -5.19 | 322.22 | 1294.44 | -222.22 | 0 | 3.42 | 0 | 16.01 | 26.46 |
| 2018 (5) | 7.23 | 10.55 | 3.15 | 35.78 | 1.91 | -9.22 | 13.72 | 0 | 11.19 | 0 | 18.22 | 0 | 6.21 | 0 | 0.51 | 8.51 | 16.73 | 0 | 192.52 | -21.74 | 23.11 | 0 | 76.89 | -36.53 | 0.00 | 0 | 12.66 | -3.43 |
| 2017 (4) | 6.54 | -31.87 | 2.32 | -42.72 | 2.11 | -6.04 | -10.83 | 0 | -8.74 | 0 | -12.80 | 0 | -3.67 | 0 | 0.47 | 2.17 | -7.56 | 0 | 246.00 | 37.02 | -21.14 | 0 | 121.14 | 0 | 0.00 | 0 | 13.11 | -3.32 |
| 2016 (3) | 9.60 | 24.51 | 4.05 | 313.27 | 2.24 | 0.35 | 2.56 | -76.87 | 2.15 | -76.96 | 2.58 | -73.43 | 1.39 | -69.98 | 0.46 | 2.22 | 5.91 | -59.55 | 179.54 | 27.5 | 157.89 | 1709.72 | -57.89 | 0 | 0.00 | 0 | 13.56 | -10.61 |
| 2015 (2) | 7.71 | -20.92 | 0.98 | -71.92 | 2.24 | 0.53 | 11.07 | -22.53 | 9.33 | -24.45 | 9.71 | -36.95 | 4.63 | -29.85 | 0.45 | -10.0 | 14.61 | -17.55 | 140.82 | 13.04 | 8.72 | -64.43 | 90.60 | 20.05 | 0.00 | 0 | 15.17 | 9.93 |
| 2014 (1) | 9.75 | 0 | 3.49 | 0 | 2.22 | -25.65 | 14.29 | 0 | 12.35 | 0 | 15.40 | 0 | 6.60 | 0 | 0.50 | -3.85 | 17.72 | 37.68 | 124.57 | -32.19 | 24.53 | -42.02 | 75.47 | 30.82 | 0.00 | 0 | 13.80 | 11.92 |
