- 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) | 14.88 | 7.75 | 33.93 | -1.05 | -173.43 | 67.39 | -4.24 | -352.38 | 30.26 | -4.26 | -607.14 | 25.39 | -2.96 | -680.39 | 18.9 | -0.60 | -222.45 | 36.17 | 0.21 | 16.67 | 0.0 | 0.47 | -93.61 | 131.54 | 233.57 | 4.66 | 13.65 | 25.00 | -70.45 | -52.68 | 75.00 | 387.5 | 59.0 | 18.01 | -3.33 | 48.72 |
| 23Q3 (19) | 13.81 | 75.25 | -1.07 | 1.43 | 125.77 | -53.27 | 1.68 | 150.15 | -68.12 | 0.84 | 123.66 | -78.95 | 0.51 | 120.82 | -82.77 | 0.49 | 232.43 | -61.42 | 0.18 | -10.0 | -30.77 | 7.35 | 324.86 | -16.86 | 223.17 | -13.19 | 13.75 | 84.62 | -48.88 | 49.49 | 15.38 | 123.48 | -62.94 | 18.63 | 27.34 | 35.29 |
| 23Q2 (18) | 7.88 | -25.66 | -48.46 | -5.55 | -92.04 | -244.53 | -3.35 | 46.23 | -157.26 | -3.55 | 50.07 | -200.0 | -2.45 | 41.81 | -212.9 | -0.37 | 64.08 | -136.63 | 0.20 | 5.26 | -13.04 | 1.73 | 235.16 | -81.24 | 257.08 | 11.58 | 41.48 | 165.52 | 268.65 | 148.28 | -65.52 | -223.47 | -284.99 | 14.63 | -3.62 | -6.52 |
| 23Q1 (17) | 10.60 | -4.59 | -9.86 | -2.89 | 10.25 | -1096.55 | -6.23 | -2.47 | -518.12 | -7.11 | -24.52 | -2944.0 | -4.21 | -15.34 | -2731.25 | -1.03 | -9.57 | -512.0 | 0.19 | -9.52 | -20.83 | -1.28 | 14.09 | -127.71 | 230.39 | 12.1 | 46.6 | 44.90 | -15.01 | 94.56 | 53.06 | 12.49 | -31.02 | 15.18 | 25.35 | 5.12 |
| 22Q4 (16) | 11.11 | -20.42 | -47.25 | -3.22 | -205.23 | -131.14 | -6.08 | -215.37 | -160.38 | -5.71 | -243.11 | -214.43 | -3.65 | -223.31 | -189.24 | -0.94 | -174.02 | -156.63 | 0.21 | -19.23 | -30.0 | -1.49 | -116.86 | -111.81 | 205.52 | 4.76 | 17.01 | 52.83 | -6.67 | -48.12 | 47.17 | 13.64 | 1813.84 | 12.11 | -12.06 | -9.49 |
| 22Q3 (15) | 13.96 | -8.7 | -21.26 | 3.06 | -20.31 | -54.53 | 5.27 | -9.91 | -5.56 | 3.99 | 12.39 | 2.05 | 2.96 | 36.41 | 20.33 | 1.27 | 25.74 | 15.45 | 0.26 | 13.04 | 8.33 | 8.84 | -4.12 | 3.88 | 196.19 | 7.97 | 16.63 | 56.60 | -15.09 | -52.4 | 41.51 | 17.2 | 291.98 | 13.77 | -12.01 | 16.5 |
| 22Q2 (14) | 15.29 | 30.02 | -38.74 | 3.84 | 1224.14 | -71.32 | 5.85 | 292.62 | -52.86 | 3.55 | 1320.0 | -67.84 | 2.17 | 1256.25 | -73.37 | 1.01 | 304.0 | -70.38 | 0.23 | -4.17 | -20.69 | 9.22 | 99.57 | -39.42 | 181.71 | 15.62 | 23.75 | 66.67 | 188.89 | -37.66 | 35.42 | -53.96 | 525.0 | 15.65 | 8.38 | 79.89 |
| 22Q1 (13) | 11.76 | -44.16 | -39.85 | 0.29 | -97.2 | -75.21 | 1.49 | -85.2 | -49.15 | 0.25 | -94.99 | -82.52 | 0.16 | -96.09 | -79.22 | 0.25 | -84.94 | -50.98 | 0.24 | -20.0 | 9.09 | 4.62 | -63.39 | -33.14 | 157.16 | -10.53 | -1.37 | 23.08 | -77.34 | -44.62 | 76.92 | 2894.87 | 31.87 | 14.44 | 7.92 | -2.83 |
| 21Q4 (12) | 21.06 | 18.78 | -26.21 | 10.34 | 53.64 | 56.67 | 10.07 | 80.47 | 80.79 | 4.99 | 27.62 | 153.3 | 4.09 | 66.26 | 359.55 | 1.66 | 50.91 | 191.23 | 0.30 | 25.0 | 50.0 | 12.62 | 48.3 | 2.52 | 175.65 | 4.42 | 25.33 | 101.83 | -14.37 | -12.05 | -2.75 | 87.27 | 82.57 | 13.38 | 13.2 | -9.78 |
| 21Q3 (11) | 17.73 | -28.97 | -44.56 | 6.73 | -49.74 | -43.21 | 5.58 | -55.04 | -50.4 | 3.91 | -64.58 | -67.82 | 2.46 | -69.82 | -52.42 | 1.10 | -67.74 | -61.94 | 0.24 | -17.24 | 4.35 | 8.51 | -44.09 | -42.19 | 168.22 | 14.56 | 54.94 | 118.92 | 11.2 | 15.52 | -21.62 | -159.46 | -267.57 | 11.82 | 35.86 | 0 |
| 21Q2 (10) | 24.96 | 27.67 | 4.44 | 13.39 | 1044.44 | 2525.49 | 12.41 | 323.55 | 2786.05 | 11.04 | 672.03 | 6394.12 | 8.15 | 958.44 | 13483.33 | 3.41 | 568.63 | 2173.33 | 0.29 | 31.82 | 45.0 | 15.22 | 120.26 | 169.38 | 146.84 | -7.85 | 119.52 | 106.94 | 156.67 | 6.94 | -8.33 | -114.29 | 0 | 8.70 | -41.45 | 0 |
| 21Q1 (9) | 19.55 | -31.5 | -15.84 | 1.17 | -82.27 | 109.84 | 2.93 | -47.4 | 127.1 | 1.43 | -27.41 | 112.85 | 0.77 | -13.48 | 134.53 | 0.51 | -10.53 | 136.43 | 0.22 | 10.0 | 69.23 | 6.91 | -43.87 | 305.65 | 159.35 | 13.7 | 196.69 | 41.67 | -64.02 | -62.96 | 58.33 | 469.44 | 566.67 | 14.86 | 0.2 | 0 |
| 20Q4 (8) | 28.54 | -10.76 | 9.18 | 6.60 | -44.3 | 12.82 | 5.57 | -50.49 | 36.86 | 1.97 | -83.79 | 5.35 | 0.89 | -82.79 | 48.33 | 0.57 | -80.28 | 1.79 | 0.20 | -13.04 | -4.76 | 12.31 | -16.37 | 35.42 | 140.15 | 29.09 | 216.29 | 115.79 | 12.48 | -17.29 | -15.79 | -168.42 | 60.53 | 14.83 | 0 | -10.77 |
| 20Q3 (7) | 31.98 | 33.81 | 3.0 | 11.85 | 2223.53 | 178.17 | 11.25 | 2516.28 | 94.3 | 12.15 | 7047.06 | 367.31 | 5.17 | 8516.67 | 538.27 | 2.89 | 1826.67 | 337.88 | 0.23 | 15.0 | 9.52 | 14.72 | 160.53 | 34.8 | 108.57 | 62.31 | 89.51 | 102.94 | 2.94 | 44.12 | -5.88 | 0 | -120.59 | 0.00 | 0 | -100.0 |
| 20Q2 (6) | 23.90 | 2.88 | -17.36 | 0.51 | 104.29 | -88.38 | 0.43 | 103.98 | -91.84 | 0.17 | 101.53 | -96.22 | 0.06 | 102.69 | -96.2 | 0.15 | 110.71 | -87.6 | 0.20 | 53.85 | -16.67 | 5.65 | 268.15 | -42.64 | 66.89 | 24.54 | 44.44 | 100.00 | -11.11 | 16.67 | -0.00 | 100.0 | -100.0 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 23.23 | -11.13 | -15.4 | -11.89 | -303.25 | -338.76 | -10.81 | -365.6 | -407.1 | -11.13 | -695.19 | -457.88 | -2.23 | -471.67 | -329.9 | -1.40 | -350.0 | -277.22 | 0.13 | -38.1 | -40.91 | -3.36 | -136.96 | -138.58 | 53.71 | 21.21 | 28.09 | 112.50 | -19.64 | -25.0 | -12.50 | 68.75 | 75.0 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 26.14 | -15.81 | 0.0 | 5.85 | 37.32 | 0.0 | 4.07 | -29.71 | 0.0 | 1.87 | -28.08 | 0.0 | 0.60 | -25.93 | 0.0 | 0.56 | -15.15 | 0.0 | 0.21 | 0.0 | 0.0 | 9.09 | -16.76 | 0.0 | 44.31 | -22.66 | 0.0 | 140.00 | 96.0 | 0.0 | -40.00 | -240.0 | 0.0 | 16.62 | 4.99 | 0.0 |
| 19Q3 (3) | 31.05 | 7.37 | 0.0 | 4.26 | -2.96 | 0.0 | 5.79 | 9.87 | 0.0 | 2.60 | -42.22 | 0.0 | 0.81 | -48.73 | 0.0 | 0.66 | -45.45 | 0.0 | 0.21 | -12.5 | 0.0 | 10.92 | 10.86 | 0.0 | 57.29 | 23.71 | 0.0 | 71.43 | -16.67 | 0.0 | 28.57 | 100.0 | 0.0 | 15.83 | -1.19 | 0.0 |
| 19Q2 (2) | 28.92 | 5.32 | 0.0 | 4.39 | -11.85 | 0.0 | 5.27 | 49.72 | 0.0 | 4.50 | 44.69 | 0.0 | 1.58 | 62.89 | 0.0 | 1.21 | 53.16 | 0.0 | 0.24 | 9.09 | 0.0 | 9.85 | 13.09 | 0.0 | 46.31 | 10.45 | 0.0 | 85.71 | -42.86 | 0.0 | 14.29 | 128.57 | 0.0 | 16.02 | 14.27 | 0.0 |
| 19Q1 (1) | 27.46 | 0.0 | 0.0 | 4.98 | 0.0 | 0.0 | 3.52 | 0.0 | 0.0 | 3.11 | 0.0 | 0.0 | 0.97 | 0.0 | 0.0 | 0.79 | 0.0 | 0.0 | 0.22 | 0.0 | 0.0 | 8.71 | 0.0 | 0.0 | 41.93 | 0.0 | 0.0 | 150.00 | 0.0 | 0.0 | -50.00 | 0.0 | 0.0 | 14.02 | 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) | 11.75 | -9.89 | -2.10 | 0 | 2.48 | 27.89 | -3.10 | 0 | -3.56 | 0 | -9.13 | 0 | -1.54 | 0 | 0.81 | -10.99 | 1.96 | -63.5 | 233.57 | 13.65 | 68.32 | 12.63 | 32.67 | -16.96 | 3.79 | -5.67 | 16.58 | 18.77 |
| 2022 (9) | 13.04 | -37.49 | 1.03 | -88.23 | 1.94 | 25.58 | 1.70 | -79.81 | 0.60 | -89.07 | 1.59 | -88.81 | 1.44 | -76.12 | 0.91 | -7.14 | 5.37 | -52.6 | 205.52 | 17.01 | 60.66 | -41.64 | 39.34 | 0 | 4.02 | -10.91 | 13.96 | 14.15 |
| 2021 (8) | 20.86 | -24.75 | 8.75 | 116.58 | 1.54 | -56.66 | 8.42 | 129.43 | 5.49 | 107.95 | 14.21 | 300.28 | 6.03 | 156.6 | 0.98 | 40.0 | 11.33 | 23.02 | 175.65 | 25.33 | 103.93 | -6.21 | -3.93 | 0 | 4.51 | -47.27 | 12.23 | -21.9 |
| 2020 (7) | 27.72 | -2.39 | 4.04 | -16.87 | 3.56 | -15.56 | 3.67 | -21.58 | 2.64 | -14.01 | 3.55 | -11.69 | 2.35 | -29.22 | 0.70 | -23.08 | 9.21 | -4.56 | 140.15 | 216.29 | 110.81 | 8.5 | -10.81 | 0 | 8.56 | 9205.06 | 15.66 | 0.13 |
| 2019 (6) | 28.40 | 11.5 | 4.86 | 74.82 | 4.22 | -1.88 | 4.68 | 66.55 | 3.07 | 20.87 | 4.02 | 10.44 | 3.32 | 16.9 | 0.91 | -4.21 | 9.65 | 26.14 | 44.31 | -0.36 | 102.13 | 2.13 | -4.26 | 0 | 0.09 | 1.93 | 15.64 | -2.25 |
| 2018 (5) | 25.47 | -7.82 | 2.78 | 0 | 4.30 | -13.51 | 2.81 | 0 | 2.54 | 0 | 3.64 | 0 | 2.84 | 0 | 0.95 | 11.76 | 7.65 | 0 | 44.47 | -20.18 | 100.00 | 37.21 | 0.00 | 0 | 0.09 | 0 | 16.00 | -5.88 |
| 2017 (4) | 27.63 | -19.89 | -4.43 | 0 | 4.97 | -7.93 | -6.08 | 0 | -6.35 | 0 | -8.49 | 0 | -4.90 | 0 | 0.85 | 6.25 | -0.41 | 0 | 55.71 | -2.93 | 72.88 | -35.33 | 27.12 | 0 | 0.00 | 0 | 17.00 | 4.94 |
| 2016 (3) | 34.49 | 9.35 | 7.02 | 19.39 | 5.40 | 10.52 | 6.17 | 0.82 | 4.09 | -6.19 | 5.57 | -17.97 | 3.76 | -11.94 | 0.80 | -5.88 | 12.38 | 4.56 | 57.39 | -30.76 | 112.70 | 15.97 | -14.29 | 0 | 0.00 | 0 | 16.20 | 5.33 |
| 2015 (2) | 31.54 | 13.25 | 5.88 | -16.71 | 4.89 | 22.21 | 6.12 | -8.52 | 4.36 | 9.55 | 6.79 | 2.41 | 4.27 | 0.71 | 0.85 | -9.57 | 11.84 | 5.06 | 82.88 | -0.49 | 97.18 | -7.34 | 4.23 | 0 | 0.00 | 0 | 15.38 | 5.41 |
| 2014 (1) | 27.85 | 0 | 7.06 | 0 | 4.00 | 21.24 | 6.69 | 0 | 3.98 | 0 | 6.63 | 0 | 4.24 | 0 | 0.94 | -21.01 | 11.27 | 10.6 | 83.29 | 19.6 | 104.88 | -6.54 | -6.10 | 0 | 0.00 | 0 | 14.59 | 13.28 |
