- 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) | 37.28 | -0.59 | -15.27 | -33.71 | 22.81 | -252.25 | -21.87 | 56.22 | -112.74 | -27.96 | 31.44 | -152.12 | -7.22 | 9.75 | -152.45 | -3.48 | 15.33 | -123.08 | 0.13 | 30.0 | -13.33 | -10.67 | 70.42 | -878.9 | 105.15 | 15.49 | 45.23 | 156.25 | 79.4 | 56.25 | -56.25 | -535.94 | -606.25 | 32.39 | -8.81 | 29.82 |
| 23Q3 (19) | 37.50 | 17.08 | -15.41 | -43.67 | -74.54 | -111.58 | -49.96 | -135.77 | -341.24 | -40.78 | -92.63 | -307.43 | -8.00 | -51.23 | -296.08 | -4.11 | -50.55 | -258.08 | 0.10 | -28.57 | -23.08 | -36.07 | -232.75 | -209.7 | 91.05 | 9.0 | 40.84 | 87.10 | -25.35 | 187.1 | 12.90 | 177.42 | -93.55 | 35.52 | 22.82 | 23.94 |
| 23Q2 (18) | 32.03 | -21.24 | 6.27 | -25.02 | -122.01 | 57.79 | -21.19 | -102.39 | -372.37 | -21.17 | -83.61 | -535.6 | -5.29 | -56.05 | -805.33 | -2.73 | -55.11 | -587.5 | 0.14 | -12.5 | 55.56 | -10.84 | -268.71 | -152.24 | 83.53 | -0.74 | 25.95 | 116.67 | 6.94 | 114.58 | -16.67 | -83.33 | -101.85 | 28.92 | 13.86 | -39.59 |
| 23Q1 (17) | 40.67 | -7.57 | 42.35 | -11.27 | -17.76 | 76.85 | -10.47 | -1.85 | -327.35 | -11.53 | -3.97 | -20.1 | -3.39 | -18.53 | -82.26 | -1.76 | -12.82 | -114.63 | 0.16 | 6.67 | 60.0 | -2.94 | -169.72 | -139.41 | 84.15 | 16.23 | -1.81 | 109.09 | 9.09 | -93.39 | -9.09 | -181.82 | 99.41 | 25.40 | 1.8 | -37.67 |
| 22Q4 (16) | 44.00 | -0.74 | -0.61 | -9.57 | 53.63 | -38.7 | -10.28 | -149.64 | -1169.14 | -11.09 | -156.41 | -223.32 | -2.86 | -170.1 | -207.53 | -1.56 | -160.0 | -358.82 | 0.15 | 15.38 | 15.38 | -1.09 | -103.32 | -117.25 | 72.40 | 11.99 | -31.1 | 100.00 | 200.0 | -85.71 | 11.11 | -94.44 | 101.85 | 24.95 | -12.94 | 2.8 |
| 22Q3 (15) | 44.33 | 47.08 | 93.16 | -20.64 | 65.18 | 35.68 | 20.71 | 166.2 | 168.69 | 19.66 | 304.53 | 163.5 | 4.08 | 444.0 | 149.7 | 2.60 | 364.29 | 165.82 | 0.13 | 44.44 | 0.0 | 32.88 | 58.46 | 244.97 | 64.65 | -2.52 | -39.04 | -100.00 | 87.5 | -193.55 | 200.00 | -77.78 | 3000.0 | 28.66 | -40.13 | -3.11 |
| 22Q2 (14) | 30.14 | 5.5 | -9.0 | -59.27 | -21.75 | -267.22 | 7.78 | 417.55 | 149.52 | 4.86 | 150.62 | 139.29 | 0.75 | 140.32 | 121.25 | 0.56 | 168.29 | 132.18 | 0.09 | -10.0 | -40.0 | 20.75 | 178.15 | 309.38 | 66.32 | -22.61 | -33.0 | -800.00 | -148.48 | -855.56 | 900.00 | 158.06 | 0 | 47.87 | 17.47 | 91.02 |
| 22Q1 (13) | 28.57 | -35.46 | -17.14 | -48.68 | -605.51 | -725.08 | -2.45 | -202.47 | 61.05 | -9.60 | -179.88 | -144.9 | -1.86 | -100.0 | -21.57 | -0.82 | -141.18 | -9.33 | 0.10 | -23.08 | -52.38 | 7.46 | 18.04 | 488.54 | 85.70 | -18.44 | -0.16 | 1650.00 | 135.71 | 1733.33 | -1550.00 | -158.33 | -15600.0 | 40.75 | 67.9 | 112.68 |
| 21Q4 (12) | 44.27 | 92.9 | 3.8 | -6.90 | 78.5 | -190.31 | -0.81 | 97.31 | -106.77 | -3.43 | 88.92 | -141.93 | -0.93 | 88.67 | -128.01 | -0.34 | 91.39 | -117.53 | 0.13 | 0.0 | -43.48 | 6.32 | 127.87 | -60.62 | 105.08 | -0.91 | 29.62 | 700.00 | 554.84 | 1008.33 | -600.00 | -8600.0 | -1728.57 | 24.27 | -17.95 | 34.46 |
| 21Q3 (11) | 22.95 | -30.71 | -43.07 | -32.09 | -98.82 | -1754.91 | -30.15 | -91.92 | -1961.11 | -30.96 | -150.28 | -1507.27 | -8.21 | -132.58 | -1166.23 | -3.95 | -127.01 | -845.28 | 0.13 | -13.33 | -38.1 | -22.68 | -128.86 | -488.36 | 106.05 | 7.14 | 41.53 | 106.90 | 0.96 | 206.9 | -6.90 | 0 | -102.76 | 29.58 | 18.04 | 34.7 |
| 21Q2 (10) | 33.12 | -3.94 | -26.43 | -16.14 | -173.56 | -258.24 | -15.71 | -149.76 | -245.87 | -12.37 | -215.56 | -213.8 | -3.53 | -130.72 | -187.59 | -1.74 | -132.0 | -167.18 | 0.15 | -28.57 | -34.78 | -9.91 | -416.15 | -166.55 | 98.98 | 15.31 | 54.8 | 105.88 | 17.65 | 13.45 | -0.00 | -100.0 | -100.0 | 25.06 | 30.79 | 0 |
| 21Q1 (9) | 34.48 | -19.16 | -18.0 | -5.90 | -177.23 | 53.32 | -6.29 | -152.59 | 49.48 | -3.92 | -147.92 | 68.79 | -1.53 | -146.08 | 51.58 | -0.75 | -138.66 | 60.32 | 0.21 | -8.7 | 31.25 | -1.92 | -111.96 | 69.28 | 85.84 | 5.88 | 46.11 | 90.00 | 42.5 | -10.0 | 10.00 | -72.86 | 0 | 19.16 | 6.15 | 0 |
| 20Q4 (8) | 42.65 | 5.81 | -4.95 | 7.64 | 541.62 | 3421.74 | 11.96 | 638.27 | 332.23 | 8.18 | 271.82 | 183.3 | 3.32 | 331.17 | 210.3 | 1.94 | 266.04 | 208.99 | 0.23 | 9.52 | 21.05 | 16.05 | 174.83 | 1061.08 | 81.07 | 8.19 | 42.23 | 63.16 | 163.16 | 0 | 36.84 | -85.26 | -63.16 | 18.05 | -17.81 | -14.86 |
| 20Q3 (7) | 40.31 | -10.46 | 21.56 | -1.73 | -116.96 | 93.24 | 1.62 | -84.96 | 105.3 | 2.20 | -79.76 | 107.46 | 0.77 | -80.89 | 110.05 | 0.53 | -79.54 | 111.45 | 0.21 | -8.7 | 31.25 | 5.84 | -60.78 | 122.52 | 74.93 | 17.19 | 16.37 | -100.00 | -207.14 | -217.86 | 250.00 | 3650.0 | 1550.0 | 21.96 | 0 | -15.67 |
| 20Q2 (6) | 45.02 | 7.06 | 160.83 | 10.20 | 180.7 | 130.48 | 10.77 | 186.51 | 140.05 | 10.87 | 186.54 | 145.77 | 4.03 | 227.53 | 175.89 | 2.59 | 237.04 | 178.01 | 0.23 | 43.75 | 64.29 | 14.89 | 338.24 | 164.1 | 63.94 | 8.83 | 8.39 | 93.33 | -6.67 | -23.64 | 6.67 | 0 | 125.71 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 42.05 | -6.28 | 50.93 | -12.64 | -5395.65 | 52.55 | -12.45 | -141.75 | 53.91 | -12.56 | -27.9 | 42.54 | -3.16 | -4.98 | 26.85 | -1.89 | -6.18 | 32.98 | 0.16 | -15.79 | 23.08 | -6.25 | -274.25 | 72.62 | 58.75 | 3.07 | 12.33 | 100.00 | 0 | 4.17 | -0.00 | -100.0 | 0 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 44.87 | 35.31 | 0.0 | -0.23 | 99.1 | 0.0 | -5.15 | 83.16 | 0.0 | -9.82 | 66.72 | 0.0 | -3.01 | 60.7 | 0.0 | -1.78 | 61.56 | 0.0 | 0.19 | 18.75 | 0.0 | -1.67 | 93.56 | 0.0 | 57.00 | -11.48 | 0.0 | 0.00 | -100.0 | 0.0 | 100.00 | 560.0 | 0.0 | 21.20 | -18.59 | 0.0 |
| 19Q3 (3) | 33.16 | 92.12 | 0.0 | -25.58 | 23.55 | 0.0 | -30.58 | -13.72 | 0.0 | -29.51 | -24.25 | 0.0 | -7.66 | -44.26 | 0.0 | -4.63 | -39.46 | 0.0 | 0.16 | 14.29 | 0.0 | -25.93 | -11.62 | 0.0 | 64.39 | 9.15 | 0.0 | 84.85 | -30.58 | 0.0 | 15.15 | 158.44 | 0.0 | 26.04 | -1.59 | 0.0 |
| 19Q2 (2) | 17.26 | -38.05 | 0.0 | -33.46 | -25.6 | 0.0 | -26.89 | 0.44 | 0.0 | -23.75 | -8.65 | 0.0 | -5.31 | -22.92 | 0.0 | -3.32 | -17.73 | 0.0 | 0.14 | 7.69 | 0.0 | -23.23 | -1.75 | 0.0 | 58.99 | 12.79 | 0.0 | 122.22 | 27.31 | 0.0 | -25.93 | 0 | 0.0 | 26.46 | -12.87 | 0.0 |
| 19Q1 (1) | 27.86 | 0.0 | 0.0 | -26.64 | 0.0 | 0.0 | -27.01 | 0.0 | 0.0 | -21.86 | 0.0 | 0.0 | -4.32 | 0.0 | 0.0 | -2.82 | 0.0 | 0.0 | 0.13 | 0.0 | 0.0 | -22.83 | 0.0 | 0.0 | 52.30 | 0.0 | 0.0 | 96.00 | 0.0 | 0.0 | 0.00 | 0.0 | 0.0 | 30.37 | 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) | 37.05 | -2.17 | -26.20 | 0 | 8.72 | -4.39 | -23.40 | 0 | -23.40 | 0 | -23.81 | 0 | -12.11 | 0 | 0.54 | 25.58 | -13.08 | 0 | 105.15 | 45.23 | 112.00 | 0 | -12.00 | 0 | 0.18 | -46.31 | 29.86 | -11.89 |
| 2022 (9) | 37.87 | 12.27 | -30.87 | 0 | 9.12 | 90.33 | 2.86 | 0 | 0.11 | 0 | 0.09 | 0 | 0.54 | 0 | 0.43 | -31.75 | 14.04 | 0 | 72.40 | -31.1 | -1100.00 | 0 | 1200.00 | 0 | 0.33 | -21.99 | 33.89 | 42.16 |
| 2021 (8) | 33.73 | -20.77 | -14.12 | 0 | 4.79 | 28.21 | -12.48 | 0 | -11.58 | 0 | -14.09 | 0 | -6.92 | 0 | 0.63 | -21.25 | -6.54 | 0 | 105.08 | 29.62 | 114.04 | 137.57 | -14.04 | 0 | 0.42 | 207.97 | 23.84 | 12.08 |
| 2020 (7) | 42.57 | 34.76 | 2.30 | 0 | 3.74 | 20.49 | 4.64 | 0 | 3.65 | 0 | 4.94 | 0 | 3.26 | 0 | 0.80 | 23.08 | 8.97 | 0 | 81.07 | 42.23 | 48.00 | -48.61 | 52.00 | 846.4 | 0.14 | -17.44 | 21.27 | -17.24 |
| 2019 (6) | 31.59 | -10.36 | -20.41 | 0 | 3.10 | 73.4 | -21.63 | 0 | -20.83 | 0 | -20.27 | 0 | -13.08 | 0 | 0.65 | -8.45 | -17.66 | 0 | 57.00 | 26.84 | 93.41 | -44.54 | 5.49 | 0 | 0.17 | 13.37 | 25.70 | 22.67 |
| 2018 (5) | 35.24 | -6.18 | -6.34 | 0 | 1.79 | -12.33 | -3.70 | 0 | -1.88 | 0 | -1.96 | 0 | -1.15 | 0 | 0.71 | -4.05 | -1.39 | 0 | 44.94 | -9.99 | 168.42 | -54.07 | -68.42 | 0 | 0.15 | 0 | 20.95 | 16.26 |
| 2017 (4) | 37.56 | 15.89 | -4.00 | 0 | 2.04 | -2.89 | -1.20 | 0 | -0.75 | 0 | -0.82 | 0 | -0.33 | 0 | 0.74 | -5.13 | 1.30 | -74.41 | 49.93 | 5.83 | 366.67 | 0 | -250.00 | 0 | 0.00 | 0 | 18.02 | 16.56 |
| 2016 (3) | 32.41 | 10.5 | -2.79 | 0 | 2.10 | -19.09 | 2.43 | 0 | 1.80 | 0 | 2.08 | 0 | 1.61 | 0 | 0.78 | 13.04 | 5.08 | 0 | 47.18 | -2.62 | -114.29 | 0 | 214.29 | 0 | 0.00 | 0 | 15.46 | -21.92 |
| 2015 (2) | 29.33 | 11.22 | -8.08 | 0 | 2.60 | 21.1 | -5.02 | 0 | -6.49 | 0 | -6.85 | 0 | -4.19 | 0 | 0.69 | -20.69 | -1.67 | 0 | 48.45 | -16.75 | 162.96 | 62.96 | -59.26 | 0 | 0.00 | 0 | 19.80 | 18.49 |
| 2014 (1) | 26.37 | 0 | -9.07 | 0 | 2.14 | -6.51 | -9.14 | 0 | -8.42 | 0 | -11.37 | 0 | -7.16 | 0 | 0.87 | -4.4 | -6.57 | 0 | 58.20 | 12.23 | 100.00 | -21.57 | -0.00 | 0 | 0.00 | 0 | 16.71 | 12.37 |
