- 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) | 41.27 | 19.94 | -24.96 | 1.00 | 312.77 | -94.91 | 0.09 | -86.96 | -99.57 | 2.41 | 141.0 | -85.55 | 0.50 | 108.33 | -86.45 | 0.47 | 104.35 | -84.12 | 0.17 | -10.53 | -5.56 | 4.26 | -3.18 | -81.82 | 19.90 | 8.92 | -6.26 | 0.00 | 100.0 | -100.0 | 0.00 | -100.0 | -100.0 | 27.16 | 15.33 | 5.85 |
| 23Q3 (19) | 34.41 | -21.94 | -38.49 | -0.47 | -105.36 | -102.11 | 0.69 | -93.28 | -97.1 | 1.00 | -88.85 | -94.67 | 0.24 | -88.24 | -94.62 | 0.23 | -85.89 | -92.97 | 0.19 | 5.56 | 11.76 | 4.40 | -66.02 | -83.05 | 18.27 | -47.98 | -40.16 | -66.67 | -178.63 | -170.71 | 166.67 | 995.24 | 2400.0 | 23.55 | -14.8 | -8.04 |
| 23Q2 (18) | 44.08 | -7.51 | -29.19 | 8.77 | -14.36 | -72.65 | 10.27 | -10.85 | -68.94 | 8.97 | -1.32 | -65.37 | 2.04 | 17.92 | -70.82 | 1.63 | 13.19 | -67.98 | 0.18 | 12.5 | -10.0 | 12.95 | -9.82 | -62.78 | 35.12 | 63.5 | -21.43 | 84.78 | -4.35 | -12.58 | 15.22 | 33.91 | 405.22 | 27.64 | 4.78 | 11.99 |
| 23Q1 (17) | 47.66 | -13.35 | -24.17 | 10.24 | -47.89 | -68.69 | 11.52 | -45.33 | -65.73 | 9.09 | -45.5 | -65.0 | 1.73 | -53.12 | -77.73 | 1.44 | -51.35 | -76.12 | 0.16 | -11.11 | -30.43 | 14.36 | -38.71 | -59.31 | 21.48 | 1.18 | -29.9 | 88.64 | -5.11 | -8.87 | 11.36 | 72.35 | 315.91 | 26.38 | 2.81 | 16.93 |
| 22Q4 (16) | 55.00 | -1.68 | -15.63 | 19.65 | -11.69 | -48.44 | 21.07 | -11.43 | -45.06 | 16.68 | -11.09 | -45.24 | 3.69 | -17.26 | -68.7 | 2.96 | -9.48 | -66.7 | 0.18 | 5.88 | -37.93 | 23.43 | -9.75 | -40.88 | 21.23 | -30.46 | -21.34 | 93.41 | -0.93 | -6.18 | 6.59 | -1.1 | 1396.7 | 25.66 | 0.2 | 25.6 |
| 22Q3 (15) | 55.94 | -10.14 | -10.7 | 22.25 | -30.6 | -38.87 | 23.79 | -28.04 | -36.2 | 18.76 | -27.57 | -38.33 | 4.46 | -36.19 | -66.49 | 3.27 | -35.76 | -66.01 | 0.17 | -15.0 | -46.88 | 25.96 | -25.38 | -30.87 | 30.53 | -31.7 | -24.21 | 94.29 | -2.79 | -3.35 | 6.67 | 121.33 | 172.0 | 25.61 | 3.77 | 20.29 |
| 22Q2 (14) | 62.25 | -0.95 | 6.36 | 32.06 | -1.99 | 10.63 | 33.06 | -1.67 | 13.65 | 25.90 | -0.27 | 13.3 | 6.99 | -10.04 | -24.92 | 5.09 | -15.59 | -28.51 | 0.20 | -13.04 | -35.48 | 34.79 | -1.42 | 13.06 | 44.70 | 45.89 | 22.63 | 96.99 | -0.29 | -3.01 | 3.01 | 10.24 | 0 | 24.68 | 9.4 | 15.38 |
| 22Q1 (13) | 62.85 | -3.59 | 21.1 | 32.71 | -14.17 | 77.58 | 33.62 | -12.33 | 96.72 | 25.97 | -14.74 | 93.09 | 7.77 | -34.1 | 66.03 | 6.03 | -32.17 | 62.1 | 0.23 | -20.69 | -17.86 | 35.29 | -10.95 | 79.96 | 30.64 | 13.52 | 21.68 | 97.27 | -2.3 | -10.1 | 2.73 | 520.22 | 133.33 | 22.56 | 10.43 | -2.72 |
| 21Q4 (12) | 65.19 | 4.07 | 33.89 | 38.11 | 4.7 | 189.59 | 38.35 | 2.84 | 297.82 | 30.46 | 0.13 | 270.56 | 11.79 | -11.42 | 358.75 | 8.89 | -7.59 | 348.99 | 0.29 | -9.38 | 20.83 | 39.63 | 5.54 | 216.03 | 26.99 | -32.99 | -3.95 | 99.56 | 2.06 | -27.82 | 0.44 | -82.03 | 101.16 | 20.43 | -4.04 | -6.16 |
| 21Q3 (11) | 62.64 | 7.02 | 35.47 | 36.40 | 25.6 | 2933.33 | 37.29 | 28.19 | 1222.34 | 30.42 | 33.07 | 1151.85 | 13.31 | 42.96 | 1947.69 | 9.62 | 35.11 | 1786.27 | 0.32 | 3.23 | 60.0 | 37.55 | 22.03 | 458.78 | 40.28 | 10.51 | 16.42 | 97.55 | -2.45 | 127.61 | 2.45 | 0 | -95.71 | 21.29 | -0.47 | -31.34 |
| 21Q2 (10) | 58.53 | 12.77 | 17.2 | 28.98 | 57.33 | 296.47 | 29.09 | 70.22 | 1512.14 | 22.86 | 69.96 | 1081.12 | 9.31 | 98.93 | 2550.0 | 7.12 | 91.4 | 3336.36 | 0.31 | 10.71 | 158.33 | 30.77 | 56.91 | 589.91 | 36.45 | 44.76 | 6.11 | 100.00 | -7.58 | -86.96 | 0.00 | 100.0 | 100.0 | 21.39 | -7.76 | 0 |
| 21Q1 (9) | 51.90 | 6.59 | 1.23 | 18.42 | 39.97 | 10133.33 | 17.09 | 77.28 | 1120.71 | 13.45 | 63.63 | 1624.36 | 4.68 | 82.1 | 2500.0 | 3.72 | 87.88 | 1517.39 | 0.28 | 16.67 | 64.71 | 19.61 | 56.38 | 242.23 | 25.18 | -10.39 | -25.96 | 108.20 | -21.56 | 0 | -8.20 | 78.39 | -108.2 | 23.19 | 6.52 | -27.53 |
| 20Q4 (8) | 48.69 | 5.3 | -7.96 | 13.16 | 996.67 | 13.25 | 9.64 | 241.84 | 63.39 | 8.22 | 238.27 | 70.19 | 2.57 | 295.38 | 88.97 | 1.98 | 288.24 | 90.38 | 0.24 | 20.0 | 20.0 | 12.54 | 86.61 | 40.58 | 28.10 | -18.79 | -30.62 | 137.93 | 221.84 | -28.81 | -37.93 | -166.38 | 59.54 | 21.77 | -29.8 | -17.41 |
| 20Q3 (7) | 46.24 | -7.41 | -12.61 | 1.20 | 108.14 | -88.7 | 2.82 | 236.89 | -71.22 | 2.43 | 204.29 | -67.86 | 0.65 | 271.05 | -70.72 | 0.51 | 331.82 | -70.35 | 0.20 | 66.67 | -4.76 | 6.72 | 50.67 | -52.44 | 34.60 | 0.73 | -10.73 | 42.86 | -94.41 | -60.1 | 57.14 | 108.57 | 871.43 | 31.01 | 0 | 23.99 |
| 20Q2 (6) | 49.94 | -2.59 | 1.52 | -14.75 | -8294.44 | -283.23 | -2.06 | -247.14 | -125.75 | -2.33 | -398.72 | -142.52 | -0.38 | -311.11 | -123.17 | -0.22 | -195.65 | -117.46 | 0.12 | -29.41 | -45.45 | 4.46 | -22.16 | -62.71 | 34.35 | 1.0 | -19.2 | 766.67 | 0 | 666.67 | -666.67 | -766.67 | 0 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 51.27 | -3.08 | 11.68 | 0.18 | -98.45 | -93.84 | 1.40 | -76.27 | -58.21 | 0.78 | -83.85 | -71.64 | 0.18 | -86.76 | -76.62 | 0.23 | -77.88 | -61.67 | 0.17 | -15.0 | -15.0 | 5.73 | -35.76 | -27.56 | 34.01 | -16.02 | -1.05 | 0.00 | -100.0 | -100.0 | 100.00 | 206.67 | 700.0 | 32.00 | 21.4 | 17.6 |
| 19Q4 (4) | 52.90 | -0.02 | 0.0 | 11.62 | 9.42 | 0.0 | 5.90 | -39.8 | 0.0 | 4.83 | -36.11 | 0.0 | 1.36 | -38.74 | 0.0 | 1.04 | -39.53 | 0.0 | 0.20 | -4.76 | 0.0 | 8.92 | -36.87 | 0.0 | 40.50 | 4.49 | 0.0 | 193.75 | 80.39 | 0.0 | -93.75 | -1165.62 | 0.0 | 26.36 | 5.4 | 0.0 |
| 19Q3 (3) | 52.91 | 7.56 | 0.0 | 10.62 | 31.93 | 0.0 | 9.80 | 22.5 | 0.0 | 7.56 | 37.96 | 0.0 | 2.22 | 35.37 | 0.0 | 1.72 | 36.51 | 0.0 | 0.21 | -4.55 | 0.0 | 14.13 | 18.14 | 0.0 | 38.76 | -8.82 | 0.0 | 107.41 | 7.41 | 0.0 | -7.41 | 0 | 0.0 | 25.01 | -2.34 | 0.0 |
| 19Q2 (2) | 49.19 | 7.14 | 0.0 | 8.05 | 175.68 | 0.0 | 8.00 | 138.81 | 0.0 | 5.48 | 99.27 | 0.0 | 1.64 | 112.99 | 0.0 | 1.26 | 110.0 | 0.0 | 0.22 | 10.0 | 0.0 | 11.96 | 51.2 | 0.0 | 42.51 | 23.68 | 0.0 | 100.00 | 14.29 | 0.0 | -0.00 | -100.0 | 0.0 | 25.61 | -5.88 | 0.0 |
| 19Q1 (1) | 45.91 | 0.0 | 0.0 | 2.92 | 0.0 | 0.0 | 3.35 | 0.0 | 0.0 | 2.75 | 0.0 | 0.0 | 0.77 | 0.0 | 0.0 | 0.60 | 0.0 | 0.0 | 0.20 | 0.0 | 0.0 | 7.91 | 0.0 | 0.0 | 34.37 | 0.0 | 0.0 | 87.50 | 0.0 | 0.0 | 12.50 | 0.0 | 0.0 | 27.21 | 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) | 41.62 | -29.86 | 4.77 | -82.46 | 1.01 | 142.39 | 5.56 | -80.42 | 5.29 | -76.17 | 4.54 | -80.17 | 3.91 | -78.91 | 0.71 | -14.46 | 8.90 | -70.66 | 19.90 | -6.26 | 85.11 | -11.15 | 13.83 | 228.31 | 2.38 | 14.85 | 26.13 | 6.57 |
| 2022 (9) | 59.34 | -1.9 | 27.20 | -14.76 | 0.42 | 16.01 | 28.39 | -11.31 | 22.20 | -13.18 | 22.89 | -37.7 | 18.54 | -35.85 | 0.83 | -26.55 | 30.33 | -8.97 | 21.23 | -21.34 | 95.79 | -3.9 | 4.21 | 1214.29 | 2.07 | 23.06 | 24.52 | 14.58 |
| 2021 (8) | 60.49 | 23.8 | 31.91 | 1384.19 | 0.36 | -57.84 | 32.01 | 729.27 | 25.57 | 724.84 | 36.74 | 1124.67 | 28.90 | 1084.43 | 1.13 | 56.94 | 33.32 | 317.54 | 26.99 | -3.95 | 99.68 | 79.42 | 0.32 | -99.28 | 1.68 | -31.78 | 21.40 | -28.62 |
| 2020 (7) | 48.86 | -2.88 | 2.15 | -74.4 | 0.85 | 14.26 | 3.86 | -43.57 | 3.10 | -40.5 | 3.00 | -49.92 | 2.44 | -45.9 | 0.72 | -10.0 | 7.98 | -26.11 | 28.10 | -30.62 | 55.56 | -54.94 | 44.44 | 0 | 2.46 | -24.28 | 29.98 | 15.22 |
| 2019 (6) | 50.31 | 19.39 | 8.40 | 41.18 | 0.74 | 5.03 | 6.84 | 11.22 | 5.21 | -14.87 | 5.99 | -24.75 | 4.51 | -26.67 | 0.80 | -14.89 | 10.80 | 3.25 | 40.50 | -13.16 | 123.29 | 26.97 | -23.29 | 0 | 3.25 | -26.86 | 26.02 | 23.14 |
| 2018 (5) | 42.14 | 0.72 | 5.95 | 0 | 0.71 | -43.66 | 6.15 | 0 | 6.12 | 0 | 7.96 | 0 | 6.15 | 0 | 0.94 | 49.21 | 10.46 | 0 | 46.64 | 64.63 | 97.10 | -2.9 | 2.90 | 0 | 4.45 | 0 | 21.13 | -29.07 |
| 2017 (4) | 41.84 | 2.83 | -11.21 | 0 | 1.26 | 121.33 | -11.13 | 0 | -11.33 | 0 | -9.19 | 0 | -6.91 | 0 | 0.63 | -37.0 | -4.06 | 0 | 28.33 | 3.28 | 100.00 | 3.57 | -1.25 | 0 | 0.00 | 0 | 29.79 | 76.17 |
| 2016 (3) | 40.69 | 13.66 | 13.27 | 25.66 | 0.57 | 109.48 | 13.70 | 17.5 | 12.07 | 24.69 | 14.66 | -0.2 | 12.16 | 9.55 | 1.00 | -12.28 | 16.78 | 28.78 | 27.43 | 79.63 | 96.55 | 6.45 | 3.45 | -62.93 | 0.00 | 0 | 16.91 | 25.45 |
| 2015 (2) | 35.80 | 33.53 | 10.56 | 13.3 | 0.27 | 26.24 | 11.66 | 14.65 | 9.68 | 14.29 | 14.69 | -41.66 | 11.10 | -31.23 | 1.14 | -40.0 | 13.03 | 19.54 | 15.27 | -72.56 | 90.70 | -0.93 | 9.30 | 10.08 | 0.00 | 0 | 13.48 | 43.71 |
| 2014 (1) | 26.81 | 0 | 9.32 | 0 | 0.22 | 53.55 | 10.17 | 0 | 8.47 | 0 | 25.18 | 0 | 16.14 | 0 | 1.90 | -5.94 | 10.90 | 8.13 | 55.65 | -6.31 | 91.55 | -8.45 | 8.45 | 0 | 0.00 | 0 | 9.38 | 2.51 |
