- 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) | 27.16 | 10.45 | 48.9 | -12.36 | -57.45 | 43.07 | -16.25 | -347.66 | 37.14 | -16.63 | -337.63 | 24.34 | -4.02 | -351.69 | -23.31 | -3.23 | -368.12 | -26.17 | 0.20 | 5.26 | 66.67 | -10.75 | -553.59 | 37.17 | 24.36 | 8.85 | 0.66 | 74.29 | -65.04 | -12.21 | 22.86 | 120.32 | 48.57 | 26.60 | 21.13 | -4.63 |
| 23Q3 (19) | 24.59 | 31.78 | -17.34 | -7.85 | 67.66 | 42.74 | -3.63 | 86.52 | 67.18 | -3.80 | 80.94 | 58.38 | -0.89 | 76.2 | 41.06 | -0.69 | 76.69 | 33.01 | 0.19 | 26.67 | 72.73 | 2.37 | 112.42 | 158.52 | 22.38 | -8.39 | -19.9 | 212.50 | 137.8 | 68.23 | -112.50 | -1157.5 | -327.5 | 21.96 | -21.57 | -25.89 |
| 23Q2 (18) | 18.66 | 19.16 | -58.44 | -24.27 | 35.52 | -243.78 | -26.92 | 27.03 | -289.58 | -19.94 | 35.9 | -267.28 | -3.74 | 16.52 | -226.78 | -2.96 | 16.85 | -269.14 | 0.15 | 25.0 | 0.0 | -19.08 | 31.02 | -202.36 | 24.43 | -4.12 | -60.67 | 89.36 | -12.32 | -24.04 | 10.64 | 653.19 | 160.28 | 28.00 | -27.87 | 35.4 |
| 23Q1 (17) | 15.66 | -14.14 | -68.52 | -37.64 | -73.38 | -253.01 | -36.89 | -42.71 | -209.27 | -31.11 | -41.54 | -210.95 | -4.48 | -37.42 | -155.58 | -3.56 | -39.06 | -166.42 | 0.12 | 0.0 | -36.84 | -27.66 | -61.66 | -174.37 | 25.48 | 5.29 | -67.32 | 101.92 | 20.45 | 39.78 | -1.92 | -112.5 | -107.1 | 38.82 | 39.19 | 106.6 |
| 22Q4 (16) | 18.24 | -38.69 | -65.0 | -21.71 | -58.35 | -183.02 | -25.85 | -133.73 | -186.43 | -21.98 | -140.74 | -190.23 | -3.26 | -115.89 | -135.36 | -2.56 | -148.54 | -137.54 | 0.12 | 9.09 | -57.14 | -17.11 | -322.47 | -152.05 | 24.20 | -13.39 | -17.99 | 84.62 | -33.01 | -3.68 | 15.38 | 158.46 | 17.58 | 27.89 | -5.87 | 67.71 |
| 22Q3 (15) | 29.75 | -33.74 | -44.31 | -13.71 | -181.22 | -143.36 | -11.06 | -177.89 | -128.21 | -9.13 | -176.59 | -128.16 | -1.51 | -151.19 | -109.32 | -1.03 | -158.86 | -109.92 | 0.11 | -26.67 | -65.62 | -4.05 | -121.73 | -109.69 | 27.94 | -55.02 | -36.41 | 126.32 | 7.37 | 57.62 | -26.32 | -49.12 | -237.43 | 29.63 | 43.28 | 93.03 |
| 22Q2 (14) | 44.90 | -9.73 | -19.19 | 16.88 | -31.38 | -47.5 | 14.20 | -57.94 | -55.86 | 11.92 | -57.49 | -55.22 | 2.95 | -63.4 | -80.53 | 1.75 | -67.35 | -79.56 | 0.15 | -21.05 | -53.12 | 18.64 | -49.88 | -46.24 | 62.12 | -20.33 | -12.43 | 117.65 | 61.34 | 17.65 | -17.65 | -165.16 | 0 | 20.68 | 10.06 | 13.38 |
| 22Q1 (13) | 49.74 | -4.55 | -8.45 | 24.60 | -5.93 | -26.21 | 33.76 | 12.87 | 3.43 | 28.04 | 15.11 | 9.87 | 8.06 | -12.58 | -43.2 | 5.36 | -21.41 | -38.6 | 0.19 | -32.14 | -44.12 | 37.19 | 13.14 | 6.29 | 77.97 | 164.22 | -7.77 | 72.92 | -17.0 | -28.99 | 27.08 | 106.99 | 1616.67 | 18.79 | 12.99 | 17.22 |
| 21Q4 (12) | 52.11 | -2.45 | 11.75 | 26.15 | -17.3 | 4.02 | 29.91 | -23.7 | 13.12 | 24.36 | -24.86 | 19.41 | 9.22 | -43.12 | -12.69 | 6.82 | -34.3 | -8.09 | 0.28 | -12.5 | -22.22 | 32.87 | -21.33 | 13.5 | 29.51 | -32.84 | -33.42 | 87.85 | 9.62 | -7.92 | 13.08 | -31.67 | 184.58 | 16.63 | 8.34 | 6.19 |
| 21Q3 (11) | 53.42 | -3.85 | 19.7 | 31.62 | -1.65 | 33.36 | 39.20 | 21.85 | 57.49 | 32.42 | 21.79 | 72.54 | 16.21 | 7.0 | 60.5 | 10.38 | 21.26 | 52.42 | 0.32 | 0.0 | -11.11 | 41.78 | 20.51 | 50.88 | 43.94 | -38.06 | 7.85 | 80.14 | -19.86 | -16.56 | 19.15 | 0 | 263.83 | 15.35 | -15.84 | 1.05 |
| 21Q2 (10) | 55.56 | 2.26 | 24.85 | 32.15 | -3.57 | 41.51 | 32.17 | -1.44 | 43.62 | 26.62 | 4.31 | 49.47 | 15.15 | 6.77 | 29.05 | 8.56 | -1.95 | 8.77 | 0.32 | -5.88 | -27.27 | 34.67 | -0.91 | 39.07 | 70.94 | -16.09 | 23.31 | 100.00 | -2.61 | -1.3 | 0.00 | 100.0 | 100.0 | 18.24 | 13.79 | 0 |
| 21Q1 (9) | 54.33 | 16.51 | 30.7 | 33.34 | 32.62 | 109.29 | 32.64 | 23.45 | 105.8 | 25.52 | 25.1 | 101.74 | 14.19 | 34.37 | 190.78 | 8.73 | 17.65 | 136.59 | 0.34 | -5.56 | 17.24 | 34.99 | 20.82 | 73.99 | 84.54 | 90.75 | 105.59 | 102.68 | 7.63 | 2.68 | -1.79 | -138.84 | 0 | 16.03 | 2.36 | -10.8 |
| 20Q4 (8) | 46.63 | 4.48 | 14.01 | 25.14 | 6.03 | 91.62 | 26.44 | 6.23 | 109.34 | 20.40 | 8.57 | 105.03 | 10.56 | 4.55 | 181.6 | 7.42 | 8.96 | 148.99 | 0.36 | 0.0 | 20.0 | 28.96 | 4.59 | 71.87 | 44.32 | 8.79 | 83.22 | 95.40 | -0.68 | -8.57 | 4.60 | -12.64 | 205.75 | 15.66 | 3.09 | -12.76 |
| 20Q3 (7) | 44.63 | 0.29 | 14.29 | 23.71 | 4.36 | 100.42 | 24.89 | 11.12 | 178.41 | 18.79 | 5.5 | 163.9 | 10.10 | -13.97 | 284.03 | 6.81 | -13.47 | 242.21 | 0.36 | -18.18 | 28.57 | 27.69 | 11.07 | 100.8 | 40.74 | -29.18 | 40.43 | 96.05 | -5.19 | -26.82 | 5.26 | 500.0 | 116.84 | 15.19 | 0 | -15.52 |
| 20Q2 (6) | 44.50 | 7.05 | 14.9 | 22.72 | 42.62 | 147.23 | 22.40 | 41.24 | 158.06 | 17.81 | 40.79 | 94.64 | 11.74 | 140.57 | 260.12 | 7.87 | 113.28 | 208.63 | 0.44 | 51.72 | 57.14 | 24.93 | 23.97 | 86.46 | 57.53 | 39.91 | 58.92 | 101.32 | 1.32 | -5.02 | -1.32 | 0 | 80.26 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 41.57 | 1.64 | -1.45 | 15.93 | 21.42 | 179.47 | 15.86 | 25.57 | 86.15 | 12.65 | 27.14 | 92.25 | 4.88 | 30.13 | 175.71 | 3.69 | 23.83 | 151.02 | 0.29 | -3.33 | 31.82 | 20.11 | 19.35 | 33.71 | 41.12 | 69.99 | 100.49 | 100.00 | -4.17 | 37.5 | -0.00 | 100.0 | -100.0 | 17.97 | 0.11 | -29.08 |
| 19Q4 (4) | 40.90 | 4.74 | 0.0 | 13.12 | 10.9 | 0.0 | 12.63 | 41.28 | 0.0 | 9.95 | 39.75 | 0.0 | 3.75 | 42.59 | 0.0 | 2.98 | 49.75 | 0.0 | 0.30 | 7.14 | 0.0 | 16.85 | 22.19 | 0.0 | 24.19 | -16.61 | 0.0 | 104.35 | -20.5 | 0.0 | -4.35 | 86.09 | 0.0 | 17.95 | -0.17 | 0.0 |
| 19Q3 (3) | 39.05 | 0.83 | 0.0 | 11.83 | 28.73 | 0.0 | 8.94 | 3.0 | 0.0 | 7.12 | -22.19 | 0.0 | 2.63 | -19.33 | 0.0 | 1.99 | -21.96 | 0.0 | 0.28 | 0.0 | 0.0 | 13.79 | 3.14 | 0.0 | 29.01 | -19.86 | 0.0 | 131.25 | 23.05 | 0.0 | -31.25 | -368.75 | 0.0 | 17.98 | -9.24 | 0.0 |
| 19Q2 (2) | 38.73 | -8.18 | 0.0 | 9.19 | 61.23 | 0.0 | 8.68 | 1.88 | 0.0 | 9.15 | 39.06 | 0.0 | 3.26 | 84.18 | 0.0 | 2.55 | 73.47 | 0.0 | 0.28 | 27.27 | 0.0 | 13.37 | -11.1 | 0.0 | 36.20 | 76.5 | 0.0 | 106.67 | 46.67 | 0.0 | -6.67 | -118.33 | 0.0 | 19.81 | -21.82 | 0.0 |
| 19Q1 (1) | 42.18 | 0.0 | 0.0 | 5.70 | 0.0 | 0.0 | 8.52 | 0.0 | 0.0 | 6.58 | 0.0 | 0.0 | 1.77 | 0.0 | 0.0 | 1.47 | 0.0 | 0.0 | 0.22 | 0.0 | 0.0 | 15.04 | 0.0 | 0.0 | 20.51 | 0.0 | 0.0 | 72.73 | 0.0 | 0.0 | 36.36 | 0.0 | 0.0 | 25.34 | 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) | 22.24 | -42.44 | -18.67 | 0 | 5.28 | 27.56 | -19.07 | 0 | -16.49 | 0 | -12.96 | 0 | -10.31 | 0 | 0.63 | 1.61 | -12.04 | 0 | 24.36 | 0.66 | 97.87 | 31.11 | 2.13 | -91.61 | 1.57 | -20.86 | 27.93 | 20.54 |
| 2022 (9) | 38.64 | -28.23 | 6.28 | -79.6 | 4.14 | 108.33 | 8.41 | -74.9 | 6.94 | -74.53 | 5.50 | -87.19 | 4.37 | -86.27 | 0.62 | -47.01 | 13.83 | -61.69 | 24.20 | -17.99 | 74.65 | -18.82 | 25.35 | 214.9 | 1.99 | -3.67 | 23.17 | 39.92 |
| 2021 (8) | 53.84 | 20.56 | 30.78 | 36.44 | 1.99 | -14.61 | 33.50 | 44.77 | 27.25 | 51.73 | 42.92 | 19.96 | 31.82 | 20.39 | 1.17 | -20.41 | 36.10 | 38.79 | 29.51 | -33.42 | 91.95 | -5.59 | 8.05 | 209.38 | 2.06 | -23.45 | 16.56 | 3.11 |
| 2020 (7) | 44.66 | 11.34 | 22.56 | 119.46 | 2.33 | -40.7 | 23.14 | 135.88 | 17.96 | 115.87 | 35.78 | 219.75 | 26.43 | 189.49 | 1.47 | 34.86 | 26.01 | 77.79 | 44.32 | 83.22 | 97.40 | -6.9 | 2.60 | 0 | 2.70 | -42.52 | 16.06 | -19.38 |
| 2019 (6) | 40.11 | -4.11 | 10.28 | 17.89 | 3.92 | 94.44 | 9.81 | 3.48 | 8.32 | 12.28 | 11.19 | 23.78 | 9.13 | 23.88 | 1.09 | 10.1 | 14.63 | 14.57 | 24.19 | 9.85 | 104.62 | 12.66 | -4.62 | 0 | 4.69 | 7.39 | 19.92 | -9.29 |
| 2018 (5) | 41.83 | 0.55 | 8.72 | -12.54 | 2.02 | 23.83 | 9.48 | -0.94 | 7.41 | -1.72 | 9.04 | -5.04 | 7.37 | -5.39 | 0.99 | -3.88 | 12.77 | 3.15 | 22.02 | -5.74 | 92.86 | -10.19 | 8.93 | 0 | 4.37 | 0 | 21.96 | 6.91 |
| 2017 (4) | 41.60 | -0.55 | 9.97 | -8.2 | 1.63 | -16.2 | 9.57 | -7.18 | 7.54 | -16.41 | 9.52 | -9.93 | 7.79 | -8.24 | 1.03 | 9.57 | 12.38 | -6.57 | 23.36 | 10.29 | 103.39 | -1.69 | -3.39 | 0 | 0.00 | 0 | 20.54 | 2.5 |
| 2016 (3) | 41.83 | -1.18 | 10.86 | -12.98 | 1.94 | -2.83 | 10.31 | -23.0 | 9.02 | -23.62 | 10.57 | -30.78 | 8.49 | -29.66 | 0.94 | -7.84 | 13.25 | -17.19 | 21.18 | -24.14 | 105.17 | 12.79 | -5.17 | 0 | 0.00 | 0 | 20.04 | 2.35 |
| 2015 (2) | 42.33 | 5.12 | 12.48 | 30.54 | 2.00 | 5.33 | 13.39 | 27.65 | 11.81 | 28.79 | 15.27 | 21.58 | 12.07 | 19.15 | 1.02 | -7.27 | 16.00 | 24.32 | 27.92 | 13.4 | 93.24 | 3.6 | 6.76 | -15.54 | 0.00 | 0 | 19.58 | 0.1 |
| 2014 (1) | 40.27 | 0 | 9.56 | 0 | 1.90 | 29.75 | 10.49 | 0 | 9.17 | 0 | 12.56 | 0 | 10.13 | 0 | 1.10 | -1.79 | 12.87 | 5.49 | 24.62 | 5.21 | 90.00 | 21.94 | 8.00 | -69.45 | 0.00 | 0 | 19.56 | 0.72 |
