- 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) | 19.76 | -4.08 | 152.36 | 5.31 | -15.98 | -95.46 | 0.88 | -93.76 | -99.24 | 1.15 | -90.05 | -98.34 | 0.23 | -89.82 | -98.42 | 0.22 | -84.4 | -97.03 | 0.12 | 9.09 | 9.09 | 6.89 | -66.78 | -94.43 | 60.65 | -9.97 | -28.76 | 533.33 | 1078.95 | 428.96 | -433.33 | -891.3 | -52333.33 | 17.26 | -6.9 | 12.44 |
| 23Q3 (19) | 20.60 | 10.87 | 20.61 | 6.32 | 76.04 | 69.44 | 14.10 | 39.47 | 1.81 | 11.56 | 96.93 | 4.62 | 2.26 | 107.34 | -22.6 | 1.41 | 104.35 | -4.73 | 0.11 | 10.0 | -15.38 | 20.74 | 18.11 | 2.57 | 67.37 | -19.82 | -41.38 | 45.24 | 26.67 | 73.99 | 54.76 | -14.81 | -23.94 | 18.54 | -3.29 | 11.69 |
| 23Q2 (18) | 18.58 | -3.78 | 7.4 | 3.59 | -21.1 | 72.6 | 10.11 | 108.02 | 212.04 | 5.87 | 42.13 | 89.35 | 1.09 | 62.69 | 34.57 | 0.69 | 50.0 | 50.0 | 0.10 | 11.11 | -16.67 | 17.56 | 34.66 | 93.61 | 84.02 | -10.69 | -20.15 | 35.71 | -61.04 | -43.88 | 64.29 | 671.43 | 76.79 | 19.17 | -5.19 | 24.64 |
| 23Q1 (17) | 19.31 | 146.62 | 24.82 | 4.55 | -96.11 | 35.01 | 4.86 | -95.81 | -28.32 | 4.13 | -94.06 | -29.4 | 0.67 | -95.39 | -54.42 | 0.46 | -93.78 | -41.77 | 0.09 | -18.18 | -25.0 | 13.04 | -89.46 | 3.16 | 94.08 | 10.5 | -20.12 | 91.67 | -9.08 | 83.33 | 8.33 | 1108.33 | -83.33 | 20.22 | 31.73 | 22.4 |
| 22Q4 (16) | 7.83 | -54.16 | -56.04 | 117.04 | 3037.8 | 2323.19 | 116.11 | 738.34 | 2222.2 | 69.48 | 528.78 | 1700.0 | 14.54 | 397.95 | 1414.58 | 7.40 | 400.0 | 1175.86 | 0.11 | -15.38 | -15.38 | 123.72 | 511.87 | 973.03 | 85.14 | -25.91 | -2.82 | 100.83 | 287.79 | 0.83 | -0.83 | -101.15 | -114.05 | 15.35 | -7.53 | 0.99 |
| 22Q3 (15) | 17.08 | -1.27 | -17.25 | 3.73 | 79.33 | -55.11 | 13.85 | 327.47 | 72.91 | 11.05 | 256.45 | 58.08 | 2.92 | 260.49 | 60.44 | 1.48 | 221.74 | 46.53 | 0.13 | 8.33 | 0.0 | 20.22 | 122.93 | 38.4 | 114.92 | 9.22 | 20.32 | 26.00 | -59.14 | -74.87 | 72.00 | 98.0 | 2188.0 | 16.60 | 7.93 | 7.44 |
| 22Q2 (14) | 17.30 | 11.83 | -16.22 | 2.08 | -38.28 | -74.16 | 3.24 | -52.21 | -40.44 | 3.10 | -47.01 | -30.8 | 0.81 | -44.9 | -28.95 | 0.46 | -41.77 | -31.34 | 0.12 | 0.0 | -14.29 | 9.07 | -28.24 | -26.14 | 105.22 | -10.66 | 17.43 | 63.64 | 27.27 | -56.82 | 36.36 | -27.27 | 176.77 | 15.38 | -6.9 | -6.33 |
| 22Q1 (13) | 15.47 | -13.14 | -35.89 | 3.37 | -30.23 | -67.63 | 6.78 | 35.6 | -31.17 | 5.85 | 51.55 | -25.19 | 1.47 | 53.12 | -24.62 | 0.79 | 36.21 | -32.48 | 0.12 | -7.69 | -14.29 | 12.64 | 9.63 | -24.4 | 117.78 | 34.44 | 38.7 | 50.00 | -50.0 | -52.78 | 50.00 | 750.0 | 950.0 | 16.52 | 8.68 | 1.66 |
| 21Q4 (12) | 17.81 | -13.71 | -32.07 | 4.83 | -41.88 | -61.17 | 5.00 | -37.58 | -50.74 | 3.86 | -44.78 | -51.45 | 0.96 | -47.25 | -48.11 | 0.58 | -42.57 | -49.12 | 0.13 | 0.0 | -7.14 | 11.53 | -21.08 | -35.48 | 87.61 | -8.27 | 28.78 | 100.00 | -3.33 | -20.0 | 5.88 | 270.59 | 126.89 | 15.20 | -1.62 | -6.17 |
| 21Q3 (11) | 20.64 | -0.05 | -12.1 | 8.31 | 3.23 | -22.19 | 8.01 | 47.24 | -16.74 | 6.99 | 56.03 | -8.27 | 1.82 | 59.65 | -5.7 | 1.01 | 50.75 | -12.17 | 0.13 | -7.14 | -7.14 | 14.61 | 18.97 | -13.35 | 95.51 | 6.6 | 28.13 | 103.45 | -29.8 | -5.17 | -3.45 | 92.72 | 71.55 | 15.45 | -5.91 | -1.72 |
| 21Q2 (10) | 20.65 | -14.42 | 8.17 | 8.05 | -22.67 | 38.55 | 5.44 | -44.77 | 73.25 | 4.48 | -42.71 | 43.13 | 1.14 | -41.54 | 70.15 | 0.67 | -42.74 | 52.27 | 0.14 | 0.0 | 16.67 | 12.28 | -26.56 | 4.42 | 89.60 | 5.51 | 9.15 | 147.37 | 39.18 | -21.98 | -47.37 | -705.26 | 46.71 | 16.42 | 1.05 | 0 |
| 21Q1 (9) | 24.13 | -7.97 | 32.73 | 10.41 | -16.32 | 179.09 | 9.85 | -2.96 | 71.6 | 7.82 | -1.64 | 96.98 | 1.95 | 5.41 | 137.8 | 1.17 | 2.63 | 120.75 | 0.14 | 0.0 | 27.27 | 16.72 | -6.44 | 16.6 | 84.92 | 24.83 | 3.74 | 105.88 | -15.29 | 54.01 | -5.88 | 73.11 | -115.69 | 16.25 | 0.31 | -7.3 |
| 20Q4 (8) | 26.22 | 11.67 | -3.43 | 12.44 | 16.48 | 8.36 | 10.15 | 5.51 | 34.97 | 7.95 | 4.33 | 31.84 | 1.85 | -4.15 | 41.22 | 1.14 | -0.87 | 48.05 | 0.14 | 0.0 | 27.27 | 17.87 | 5.99 | 12.96 | 68.03 | -8.73 | -19.01 | 125.00 | 14.58 | -19.12 | -21.88 | -80.47 | 59.9 | 16.20 | 3.05 | -19.36 |
| 20Q3 (7) | 23.48 | 23.0 | 25.97 | 10.68 | 83.82 | 105.78 | 9.62 | 206.37 | 73.96 | 7.62 | 143.45 | 71.62 | 1.93 | 188.06 | 77.06 | 1.15 | 161.36 | 79.69 | 0.14 | 16.67 | 7.69 | 16.86 | 43.37 | 33.28 | 74.54 | -9.2 | -20.6 | 109.09 | -42.25 | 15.51 | -12.12 | 86.36 | -318.18 | 15.72 | 0 | 8.34 |
| 20Q2 (6) | 19.09 | 5.01 | 36.45 | 5.81 | 55.76 | 1163.04 | 3.14 | -45.3 | 62.69 | 3.13 | -21.16 | 79.89 | 0.67 | -18.29 | 71.79 | 0.44 | -16.98 | 51.72 | 0.12 | 9.09 | 0.0 | 11.76 | -17.99 | 19.88 | 82.09 | 0.28 | -12.75 | 188.89 | 174.75 | 1033.33 | -88.89 | -337.04 | -206.67 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 18.18 | -33.04 | 39.52 | 3.73 | -67.51 | 673.85 | 5.74 | -23.67 | 64.0 | 3.97 | -34.16 | 48.13 | 0.82 | -37.4 | 54.72 | 0.53 | -31.17 | 47.22 | 0.11 | 0.0 | 0.0 | 14.34 | -9.36 | 17.54 | 81.86 | -2.55 | -2.08 | 68.75 | -55.51 | 443.75 | 37.50 | 168.75 | -68.75 | 17.53 | -12.74 | 5.1 |
| 19Q4 (4) | 27.15 | 45.65 | 0.0 | 11.48 | 121.19 | 0.0 | 7.52 | 35.99 | 0.0 | 6.03 | 35.81 | 0.0 | 1.31 | 20.18 | 0.0 | 0.77 | 20.31 | 0.0 | 0.11 | -15.38 | 0.0 | 15.82 | 25.06 | 0.0 | 84.00 | -10.52 | 0.0 | 154.55 | 63.64 | 0.0 | -54.55 | -1081.82 | 0.0 | 20.09 | 38.46 | 0.0 |
| 19Q3 (3) | 18.64 | 33.24 | 0.0 | 5.19 | 1028.26 | 0.0 | 5.53 | 186.53 | 0.0 | 4.44 | 155.17 | 0.0 | 1.09 | 179.49 | 0.0 | 0.64 | 120.69 | 0.0 | 0.13 | 8.33 | 0.0 | 12.65 | 28.95 | 0.0 | 93.88 | -0.22 | 0.0 | 94.44 | 466.67 | 0.0 | 5.56 | -93.33 | 0.0 | 14.51 | -6.08 | 0.0 |
| 19Q2 (2) | 13.99 | 7.37 | 0.0 | 0.46 | 170.77 | 0.0 | 1.93 | -44.86 | 0.0 | 1.74 | -35.07 | 0.0 | 0.39 | -26.42 | 0.0 | 0.29 | -19.44 | 0.0 | 0.12 | 9.09 | 0.0 | 9.81 | -19.59 | 0.0 | 94.09 | 12.55 | 0.0 | 16.67 | 183.33 | 0.0 | 83.33 | -30.56 | 0.0 | 15.45 | -7.37 | 0.0 |
| 19Q1 (1) | 13.03 | 0.0 | 0.0 | -0.65 | 0.0 | 0.0 | 3.50 | 0.0 | 0.0 | 2.68 | 0.0 | 0.0 | 0.53 | 0.0 | 0.0 | 0.36 | 0.0 | 0.0 | 0.11 | 0.0 | 0.0 | 12.20 | 0.0 | 0.0 | 83.60 | 0.0 | 0.0 | -20.00 | 0.0 | 0.0 | 120.00 | 0.0 | 0.0 | 16.68 | 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) | 19.59 | 33.99 | 4.98 | -82.82 | 5.64 | 6.13 | 7.51 | -76.96 | 5.72 | -72.74 | 4.12 | -78.5 | 2.80 | -73.63 | 0.42 | -14.29 | 14.54 | -62.58 | 60.65 | -28.76 | 67.06 | -24.52 | 34.12 | 205.69 | 0.52 | 94.4 | 18.73 | 17.21 |
| 2022 (9) | 14.62 | -29.68 | 28.98 | 267.3 | 5.31 | -9.02 | 32.59 | 360.31 | 20.98 | 262.35 | 19.16 | 233.8 | 10.62 | 203.43 | 0.49 | -12.5 | 38.86 | 183.65 | 85.14 | -2.82 | 88.84 | -20.13 | 11.16 | 0 | 0.27 | 77.83 | 15.98 | 1.01 |
| 2021 (8) | 20.79 | -5.2 | 7.89 | -5.85 | 5.84 | -19.09 | 7.08 | -3.54 | 5.79 | -0.34 | 5.74 | 11.24 | 3.50 | 9.03 | 0.56 | 12.0 | 13.70 | -10.63 | 87.61 | 28.78 | 111.22 | -2.81 | -11.22 | 0 | 0.15 | -29.0 | 15.82 | -4.18 |
| 2020 (7) | 21.93 | 20.56 | 8.38 | 102.91 | 7.22 | 2.22 | 7.34 | 59.22 | 5.81 | 56.18 | 5.16 | 59.26 | 3.21 | 54.33 | 0.50 | 6.38 | 15.33 | 21.09 | 68.03 | -19.01 | 114.44 | 27.91 | -14.44 | 0 | 0.21 | 8.5 | 16.51 | -0.54 |
| 2019 (6) | 18.19 | -9.46 | 4.13 | -41.83 | 7.06 | 16.89 | 4.61 | -56.1 | 3.72 | -49.59 | 3.24 | -53.91 | 2.08 | -50.83 | 0.47 | -11.32 | 12.66 | -27.28 | 84.00 | 0.42 | 89.47 | 32.42 | 10.53 | -67.54 | 0.20 | -12.5 | 16.60 | 3.56 |
| 2018 (5) | 20.09 | -26.57 | 7.10 | -47.41 | 6.04 | 8.23 | 10.50 | -25.95 | 7.38 | -35.71 | 7.03 | -30.94 | 4.23 | -33.07 | 0.53 | 0.0 | 17.41 | -14.49 | 83.65 | 8.98 | 67.57 | -29.29 | 32.43 | 548.65 | 0.22 | 0 | 16.03 | -5.15 |
| 2017 (4) | 27.36 | -7.85 | 13.50 | -15.15 | 5.58 | 2.61 | 14.18 | -13.48 | 11.48 | -13.29 | 10.18 | -23.57 | 6.32 | -26.08 | 0.53 | -15.87 | 20.36 | -9.11 | 76.76 | 35.67 | 95.56 | -1.56 | 5.00 | 70.83 | 0.00 | 0 | 16.90 | 1.93 |
| 2016 (3) | 29.69 | 13.8 | 15.91 | 18.03 | 5.44 | 1.49 | 16.39 | 15.34 | 13.24 | 6.95 | 13.32 | -4.52 | 8.55 | 0.71 | 0.63 | -4.55 | 22.40 | 11.0 | 56.58 | -12.98 | 97.07 | 2.5 | 2.93 | -44.72 | 0.00 | 0 | 16.58 | 3.24 |
| 2015 (2) | 26.09 | 20.51 | 13.48 | 55.48 | 5.36 | 1.26 | 14.21 | 32.06 | 12.38 | 35.3 | 13.95 | 21.2 | 8.49 | 28.25 | 0.66 | -1.49 | 20.18 | 18.43 | 65.02 | -16.16 | 94.71 | 17.25 | 5.29 | -72.47 | 0.00 | 0 | 16.06 | 1.58 |
| 2014 (1) | 21.65 | 0 | 8.67 | 0 | 5.29 | 7.45 | 10.76 | 0 | 9.15 | 0 | 11.51 | 0 | 6.62 | 0 | 0.67 | 3.08 | 17.04 | -0.41 | 77.55 | -22.96 | 80.77 | 15.38 | 19.23 | -34.21 | 0.00 | 0 | 15.81 | 5.26 |
