- 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) | 18.76 | 4.98 | -17.28 | 8.16 | 37.61 | -24.16 | 9.69 | 18.6 | -12.62 | 7.93 | 15.26 | -10.19 | 3.42 | 34.65 | -1.72 | 2.39 | 32.78 | -3.24 | 0.30 | 15.38 | 7.14 | 12.61 | 4.13 | -12.97 | 45.90 | 8.25 | 2.3 | 86.36 | 25.62 | -9.71 | 18.18 | -27.27 | 318.18 | 7.10 | 3.8 | -4.95 |
| 23Q3 (19) | 17.87 | -9.47 | -11.36 | 5.93 | -24.94 | 12.31 | 8.17 | -18.14 | 26.86 | 6.88 | -16.81 | 30.55 | 2.54 | -20.63 | 55.83 | 1.80 | -16.28 | 52.54 | 0.26 | 0.0 | 18.18 | 12.11 | -9.63 | 6.98 | 42.40 | 0.07 | 5.97 | 68.75 | -12.92 | -14.06 | 25.00 | 18.75 | 25.0 | 6.84 | -25.65 | -29.92 |
| 23Q2 (18) | 19.74 | 11.4 | -17.85 | 7.90 | 60.57 | -28.38 | 9.98 | 76.64 | -39.62 | 8.27 | 82.56 | -41.92 | 3.20 | 113.33 | -35.87 | 2.15 | 112.87 | -40.77 | 0.26 | 18.18 | 4.0 | 13.40 | 34.0 | -34.38 | 42.37 | -26.58 | 1.63 | 78.95 | -1.32 | 20.3 | 21.05 | 110.53 | -38.76 | 9.20 | -5.15 | -2.02 |
| 23Q1 (17) | 17.72 | -21.87 | -14.85 | 4.92 | -54.28 | -41.29 | 5.65 | -49.05 | -33.22 | 4.53 | -48.7 | -32.19 | 1.50 | -56.9 | -29.25 | 1.01 | -59.11 | -35.67 | 0.22 | -21.43 | -4.35 | 10.00 | -30.99 | -17.29 | 57.71 | 28.62 | 63.76 | 80.00 | -16.36 | -20.0 | 10.00 | 130.0 | 0 | 9.70 | 29.85 | 13.85 |
| 22Q4 (16) | 22.68 | 12.5 | -10.04 | 10.76 | 103.79 | -24.7 | 11.09 | 72.2 | -24.66 | 8.83 | 67.55 | -25.04 | 3.48 | 113.5 | -24.51 | 2.47 | 109.32 | -27.14 | 0.28 | 27.27 | -3.45 | 14.49 | 28.0 | -19.37 | 44.87 | 12.15 | 23.68 | 95.65 | 19.57 | -1.26 | 4.35 | -78.26 | 39.13 | 7.47 | -23.46 | -0.4 |
| 22Q3 (15) | 20.16 | -16.1 | 7.01 | 5.28 | -52.13 | -21.08 | 6.44 | -61.04 | -18.58 | 5.27 | -62.99 | -17.66 | 1.63 | -67.33 | -20.87 | 1.18 | -67.49 | -22.88 | 0.22 | -12.0 | -8.33 | 11.32 | -44.56 | -4.31 | 40.01 | -4.03 | 10.56 | 80.00 | 21.9 | 0.0 | 20.00 | -41.82 | 50.0 | 9.76 | 3.94 | 16.33 |
| 22Q2 (14) | 24.03 | 15.47 | 7.95 | 11.03 | 31.62 | -2.3 | 16.53 | 95.39 | 31.5 | 14.24 | 113.17 | 39.2 | 4.99 | 135.38 | 39.78 | 3.63 | 131.21 | 38.55 | 0.25 | 8.7 | 0.0 | 20.42 | 68.9 | 28.67 | 41.69 | 18.3 | 21.83 | 65.62 | -34.38 | -25.82 | 34.38 | 0 | 197.92 | 9.39 | 10.21 | 14.51 |
| 22Q1 (13) | 20.81 | -17.45 | 3.95 | 8.38 | -41.36 | -7.2 | 8.46 | -42.53 | -13.76 | 6.68 | -43.29 | -15.44 | 2.12 | -54.01 | -24.82 | 1.57 | -53.69 | -21.11 | 0.23 | -20.69 | -8.0 | 12.09 | -32.72 | -9.57 | 35.24 | -2.87 | -11.5 | 100.00 | 3.23 | 11.11 | 0.00 | -100.0 | -100.0 | 8.52 | 13.6 | 5.06 |
| 21Q4 (12) | 25.21 | 33.81 | -3.48 | 14.29 | 113.6 | -3.18 | 14.72 | 86.09 | -2.97 | 11.78 | 84.06 | -2.97 | 4.61 | 123.79 | -5.34 | 3.39 | 121.57 | -0.59 | 0.29 | 20.83 | 3.57 | 17.97 | 51.9 | -3.39 | 36.28 | 0.25 | -19.22 | 96.88 | 21.09 | -0.1 | 3.12 | -76.56 | 3.12 | 7.50 | -10.61 | -1.7 |
| 21Q3 (11) | 18.84 | -15.36 | -0.69 | 6.69 | -40.74 | -23.1 | 7.91 | -37.07 | -21.37 | 6.40 | -37.44 | -21.86 | 2.06 | -42.3 | -41.97 | 1.53 | -41.6 | -34.89 | 0.24 | -4.0 | -17.24 | 11.83 | -25.46 | -12.82 | 36.19 | 5.76 | -14.0 | 80.00 | -9.57 | -7.37 | 13.33 | 15.56 | -2.22 | 8.39 | 2.32 | 6.61 |
| 21Q2 (10) | 22.26 | 11.19 | -0.89 | 11.29 | 25.03 | -10.47 | 12.57 | 28.13 | -5.06 | 10.23 | 29.49 | -1.35 | 3.57 | 26.6 | -22.39 | 2.62 | 31.66 | -12.67 | 0.25 | 0.0 | -13.79 | 15.87 | 18.7 | -3.11 | 34.22 | -14.06 | -44.76 | 88.46 | -1.71 | -5.44 | 11.54 | 15.38 | 257.69 | 8.20 | 1.11 | 13.89 |
| 21Q1 (9) | 20.02 | -23.35 | 1.73 | 9.03 | -38.82 | -2.9 | 9.81 | -35.33 | 3.37 | 7.90 | -34.93 | 4.64 | 2.82 | -42.09 | -18.26 | 1.99 | -41.64 | -14.96 | 0.25 | -10.71 | -19.35 | 13.37 | -28.12 | 6.53 | 39.82 | -11.33 | -14.66 | 90.00 | -7.19 | -10.0 | 10.00 | 230.0 | 0 | 8.11 | 6.29 | 27.72 |
| 20Q4 (8) | 26.12 | 37.69 | 30.21 | 14.76 | 69.66 | 44.56 | 15.17 | 50.8 | 48.58 | 12.14 | 48.23 | 52.51 | 4.87 | 37.18 | 24.87 | 3.41 | 45.11 | 27.72 | 0.28 | -3.45 | -15.15 | 18.60 | 37.07 | 36.56 | 44.91 | 6.73 | -11.87 | 96.97 | 12.28 | -3.03 | 3.03 | -77.78 | 0 | 7.63 | -3.05 | 16.67 |
| 20Q3 (7) | 18.97 | -15.54 | -7.1 | 8.70 | -31.01 | -15.45 | 10.06 | -24.02 | -8.21 | 8.19 | -21.02 | -7.25 | 3.55 | -22.83 | -16.27 | 2.35 | -21.67 | -15.77 | 0.29 | 0.0 | -6.45 | 13.57 | -17.16 | -3.83 | 42.08 | -32.07 | -8.38 | 86.36 | -7.68 | -10.18 | 13.64 | 322.73 | 77.27 | 7.87 | 9.31 | 17.11 |
| 20Q2 (6) | 22.46 | 14.13 | -9.4 | 12.61 | 35.59 | 3.7 | 13.24 | 39.52 | 9.88 | 10.37 | 37.35 | 14.71 | 4.60 | 33.33 | 21.05 | 3.00 | 28.21 | 20.48 | 0.29 | -6.45 | 7.41 | 16.38 | 30.52 | 6.23 | 61.95 | 32.77 | 2.77 | 93.55 | -6.45 | -6.45 | 3.23 | 0 | 0 | 7.20 | 13.39 | -15.29 |
| 20Q1 (5) | 19.68 | -1.89 | -16.04 | 9.30 | -8.91 | 52.96 | 9.49 | -7.05 | 39.35 | 7.55 | -5.15 | 63.07 | 3.45 | -11.54 | 109.09 | 2.34 | -12.36 | 100.0 | 0.31 | -6.06 | 24.0 | 12.55 | -7.86 | 28.59 | 46.66 | -8.44 | 0.39 | 100.00 | 0.0 | 10.0 | 0.00 | 0 | -100.0 | 6.35 | -2.91 | -27.59 |
| 19Q4 (4) | 20.06 | -1.76 | 0.0 | 10.21 | -0.78 | 0.0 | 10.21 | -6.84 | 0.0 | 7.96 | -9.85 | 0.0 | 3.90 | -8.02 | 0.0 | 2.67 | -4.3 | 0.0 | 0.33 | 6.45 | 0.0 | 13.62 | -3.47 | 0.0 | 50.96 | 10.95 | 0.0 | 100.00 | 4.0 | 0.0 | 0.00 | -100.0 | 0.0 | 6.54 | -2.68 | 0.0 |
| 19Q3 (3) | 20.42 | -17.63 | 0.0 | 10.29 | -15.38 | 0.0 | 10.96 | -9.05 | 0.0 | 8.83 | -2.32 | 0.0 | 4.24 | 11.58 | 0.0 | 2.79 | 12.05 | 0.0 | 0.31 | 14.81 | 0.0 | 14.11 | -8.5 | 0.0 | 45.93 | -23.81 | 0.0 | 96.15 | -3.85 | 0.0 | 7.69 | 0 | 0.0 | 6.72 | -20.94 | 0.0 |
| 19Q2 (2) | 24.79 | 5.76 | 0.0 | 12.16 | 100.0 | 0.0 | 12.05 | 76.95 | 0.0 | 9.04 | 95.25 | 0.0 | 3.80 | 130.3 | 0.0 | 2.49 | 112.82 | 0.0 | 0.27 | 8.0 | 0.0 | 15.42 | 57.99 | 0.0 | 60.28 | 29.69 | 0.0 | 100.00 | 10.0 | 0.0 | -0.00 | -100.0 | 0.0 | 8.50 | -3.08 | 0.0 |
| 19Q1 (1) | 23.44 | 0.0 | 0.0 | 6.08 | 0.0 | 0.0 | 6.81 | 0.0 | 0.0 | 4.63 | 0.0 | 0.0 | 1.65 | 0.0 | 0.0 | 1.17 | 0.0 | 0.0 | 0.25 | 0.0 | 0.0 | 9.76 | 0.0 | 0.0 | 46.48 | 0.0 | 0.0 | 90.91 | 0.0 | 0.0 | 9.09 | 0.0 | 0.0 | 8.77 | 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) | 18.56 | -15.75 | 6.85 | -24.39 | 3.32 | -5.87 | 8.52 | -21.47 | 7.02 | -21.48 | 10.25 | -14.3 | 7.11 | -17.13 | 1.00 | 5.26 | 12.12 | -17.94 | 45.90 | 2.3 | 80.60 | -3.76 | 19.40 | 19.4 | 8.73 | -2.03 | 8.12 | -6.88 |
| 2022 (9) | 22.03 | 1.47 | 9.06 | -13.55 | 3.52 | 2.29 | 10.85 | -4.82 | 8.94 | -2.72 | 11.96 | -10.21 | 8.58 | -9.87 | 0.95 | -7.77 | 14.77 | -1.6 | 44.87 | 23.68 | 83.75 | -8.37 | 16.25 | 115.89 | 8.91 | 0.13 | 8.72 | 8.59 |
| 2021 (8) | 21.71 | -0.05 | 10.48 | -7.09 | 3.44 | 12.55 | 11.40 | -4.36 | 9.19 | -3.26 | 13.32 | -16.49 | 9.52 | -12.26 | 1.03 | -9.65 | 15.01 | -1.18 | 36.28 | -19.22 | 91.40 | -3.28 | 7.53 | 36.74 | 8.90 | 3.35 | 8.03 | 11.07 |
| 2020 (7) | 21.72 | -0.82 | 11.28 | 13.94 | 3.06 | 1.69 | 11.92 | 16.86 | 9.50 | 21.48 | 15.95 | 16.76 | 10.85 | 15.8 | 1.14 | -4.2 | 15.19 | 14.12 | 44.91 | -11.87 | 94.50 | -2.17 | 5.50 | 61.47 | 8.61 | 1.12 | 7.23 | -3.21 |
| 2019 (6) | 21.90 | -11.73 | 9.90 | -6.07 | 3.01 | 623.23 | 10.20 | -12.52 | 7.82 | -13.11 | 13.66 | -3.6 | 9.37 | -10.16 | 1.19 | 2.59 | 13.31 | 10.27 | 50.96 | 17.66 | 96.59 | 6.76 | 3.41 | -64.2 | 8.52 | 0 | 7.47 | -18.36 |
| 2018 (5) | 24.81 | -0.84 | 10.54 | -14.52 | 0.42 | -9.02 | 11.66 | -27.08 | 9.00 | -34.21 | 14.17 | -27.67 | 10.43 | -29.95 | 1.16 | 6.42 | 12.07 | -26.67 | 43.31 | 52.13 | 90.48 | 17.28 | 9.52 | -58.33 | 0.00 | 0 | 9.15 | -0.11 |
| 2017 (4) | 25.02 | 5.35 | 12.33 | -1.44 | 0.46 | -17.34 | 15.99 | 16.21 | 13.68 | 19.48 | 19.59 | 4.82 | 14.89 | 5.38 | 1.09 | -11.38 | 16.46 | 15.51 | 28.47 | -18.33 | 77.14 | -15.14 | 22.86 | 151.43 | 0.00 | 0 | 9.16 | 17.59 |
| 2016 (3) | 23.75 | -5.94 | 12.51 | 14.35 | 0.55 | -16.6 | 13.76 | -0.43 | 11.45 | -1.38 | 18.69 | 13.0 | 14.13 | 8.94 | 1.23 | 9.82 | 14.25 | -2.33 | 34.86 | 18.21 | 90.91 | 14.33 | 9.09 | -55.61 | 0.00 | 0 | 7.79 | -90.07 |
| 2015 (2) | 25.25 | -5.57 | 10.94 | -11.2 | 0.66 | -13.43 | 13.82 | -8.66 | 11.61 | -8.87 | 16.54 | -9.17 | 12.97 | -8.34 | 1.12 | 0.9 | 14.59 | -9.32 | 29.49 | 16.01 | 79.52 | -1.84 | 20.48 | 7.87 | 0.00 | 0 | 78.44 | 3.76 |
| 2014 (1) | 26.74 | 0 | 12.32 | 0 | 0.77 | -6.7 | 15.13 | 0 | 12.74 | 0 | 18.21 | 0 | 14.15 | 0 | 1.11 | -11.9 | 16.09 | -3.25 | 25.42 | -22.69 | 81.01 | -12.14 | 18.99 | 143.67 | 0.00 | 0 | 75.60 | -0.32 |
