- 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) | 23.69 | 20.19 | 106.36 | 11.98 | 68.97 | 2118.52 | 5.89 | -48.65 | 161.93 | 5.88 | -1.01 | 173.32 | 1.25 | -1.57 | 185.03 | 0.84 | 0.0 | 213.51 | 0.12 | 0.0 | 9.09 | 16.98 | -26.4 | 318.23 | 71.62 | -7.35 | -2.4 | 204.55 | 230.42 | 4122.73 | -104.55 | -374.43 | -199.49 | 13.70 | 1.26 | 35.38 |
| 23Q3 (19) | 19.71 | 39.79 | -11.18 | 7.09 | 170.61 | -22.51 | 11.47 | 24.67 | -33.78 | 5.94 | -13.91 | -53.95 | 1.27 | -7.3 | -56.8 | 0.84 | -6.67 | -51.45 | 0.12 | 9.09 | -7.69 | 23.07 | 4.44 | -17.99 | 77.30 | -2.46 | 4.04 | 61.90 | 113.23 | 16.63 | 38.10 | -46.32 | -18.81 | 13.53 | -2.03 | -12.48 |
| 23Q2 (18) | 14.10 | 14.26 | -45.6 | 2.62 | 431.65 | -75.9 | 9.20 | 611.11 | -48.66 | 6.90 | 496.55 | -51.85 | 1.37 | 589.29 | -56.78 | 0.90 | 1900.0 | -50.82 | 0.11 | 22.22 | -8.33 | 22.09 | 63.87 | -22.38 | 79.25 | 5.02 | -2.08 | 29.03 | -27.42 | -52.1 | 70.97 | 18.28 | 80.15 | 13.81 | -5.99 | -33.06 |
| 23Q1 (17) | 12.34 | 7.49 | -52.97 | -0.79 | -246.3 | -105.53 | -1.80 | 81.07 | -109.52 | -1.74 | 78.3 | -111.81 | -0.28 | 80.95 | -108.48 | -0.05 | 93.24 | -102.54 | 0.09 | -18.18 | -30.77 | 13.48 | 232.02 | -52.75 | 75.46 | 2.83 | -2.36 | 40.00 | 886.67 | -47.03 | 60.00 | -42.9 | 145.0 | 14.69 | 45.16 | -10.48 |
| 22Q4 (16) | 11.48 | -48.26 | -63.38 | 0.54 | -94.1 | -97.43 | -9.51 | -154.91 | -147.31 | -8.02 | -162.17 | -152.32 | -1.47 | -150.0 | -135.0 | -0.74 | -142.77 | -129.02 | 0.11 | -15.38 | -31.25 | 4.06 | -85.57 | -85.47 | 73.38 | -1.24 | 10.15 | -5.08 | -109.58 | -104.85 | 105.08 | 123.95 | 2295.1 | 10.12 | -34.54 | -32.67 |
| 22Q3 (15) | 22.19 | -14.39 | -26.13 | 9.15 | -15.82 | -53.95 | 17.32 | -3.35 | -20.04 | 12.90 | -9.98 | -22.05 | 2.94 | -7.26 | -37.84 | 1.73 | -5.46 | -39.72 | 0.13 | 8.33 | -23.53 | 28.13 | -1.16 | -3.1 | 74.30 | -8.19 | 6.58 | 53.08 | -12.42 | -42.05 | 46.92 | 19.11 | 457.56 | 15.46 | -25.06 | 0.06 |
| 22Q2 (14) | 25.92 | -1.22 | -7.86 | 10.87 | -23.93 | -39.94 | 17.92 | -5.24 | 0.34 | 14.33 | -2.72 | -0.14 | 3.17 | -3.94 | -24.7 | 1.83 | -7.11 | -29.34 | 0.12 | -7.69 | -33.33 | 28.46 | -0.25 | 14.85 | 80.93 | 4.72 | 24.43 | 60.61 | -19.74 | -40.12 | 39.39 | 60.86 | 3350.0 | 20.63 | 25.72 | 34.75 |
| 22Q1 (13) | 26.24 | -16.3 | 9.61 | 14.29 | -32.11 | 7.85 | 18.91 | -5.92 | 48.78 | 14.73 | -3.91 | 46.42 | 3.30 | -21.43 | 24.06 | 1.97 | -22.75 | 17.26 | 0.13 | -18.75 | -18.75 | 28.53 | 2.11 | 38.56 | 77.28 | 16.0 | 15.95 | 75.51 | -27.94 | -27.31 | 24.49 | 611.56 | 730.61 | 16.41 | 9.18 | -2.61 |
| 21Q4 (12) | 31.35 | 4.36 | 41.53 | 21.05 | 5.94 | 81.0 | 20.10 | -7.2 | 128.41 | 15.33 | -7.37 | 121.21 | 4.20 | -11.21 | 116.49 | 2.55 | -11.15 | 102.38 | 0.16 | -5.88 | -11.11 | 27.94 | -3.75 | 73.76 | 66.62 | -4.43 | 11.76 | 104.79 | 14.42 | -20.87 | -4.79 | -156.88 | 85.24 | 15.03 | -2.72 | -6.36 |
| 21Q3 (11) | 30.04 | 6.79 | 42.44 | 19.87 | 9.78 | 99.1 | 21.66 | 21.28 | 107.67 | 16.55 | 15.33 | 109.76 | 4.73 | 12.35 | 112.11 | 2.87 | 10.81 | 96.58 | 0.17 | -5.56 | -5.56 | 29.03 | 17.15 | 65.98 | 69.71 | 7.18 | 16.77 | 91.58 | -9.51 | -5.11 | 8.42 | 794.31 | 80.94 | 15.45 | 0.91 | -0.71 |
| 21Q2 (10) | 28.13 | 17.5 | 20.57 | 18.10 | 36.6 | 48.73 | 17.86 | 40.52 | 71.4 | 14.35 | 42.64 | 86.12 | 4.21 | 58.27 | 117.01 | 2.59 | 54.17 | 97.71 | 0.18 | 12.5 | 12.5 | 24.78 | 20.35 | 33.51 | 65.04 | -2.42 | 13.07 | 101.21 | -2.57 | -13.74 | -1.21 | 68.79 | 93.01 | 15.31 | -9.14 | 0 |
| 21Q1 (9) | 23.94 | 8.08 | 15.93 | 13.25 | 13.93 | 58.49 | 12.71 | 44.43 | 33.09 | 10.06 | 45.17 | 42.49 | 2.66 | 37.11 | 76.16 | 1.68 | 33.33 | 60.0 | 0.16 | -11.11 | 14.29 | 20.59 | 28.05 | 7.8 | 66.65 | 11.81 | 31.05 | 103.88 | -21.56 | 17.87 | -3.88 | 88.03 | -132.73 | 16.85 | 4.98 | 0 |
| 20Q4 (8) | 22.15 | 5.03 | 14.71 | 11.63 | 16.53 | 60.86 | 8.80 | -15.63 | 76.0 | 6.93 | -12.17 | 52.31 | 1.94 | -13.0 | 70.18 | 1.26 | -13.7 | 55.56 | 0.18 | 0.0 | 5.88 | 16.08 | -8.06 | 22.75 | 59.61 | -0.15 | 15.48 | 132.43 | 37.22 | -7.55 | -32.43 | -797.3 | 25.0 | 16.05 | 3.15 | -5.75 |
| 20Q3 (7) | 21.09 | -9.6 | 11.94 | 9.98 | -18.0 | 45.48 | 10.43 | 0.1 | 16.67 | 7.89 | 2.33 | 29.98 | 2.23 | 14.95 | 48.67 | 1.46 | 11.45 | 41.75 | 0.18 | 12.5 | 5.88 | 17.49 | -5.77 | 1.92 | 59.70 | 3.79 | 15.88 | 96.51 | -17.75 | 26.06 | 4.65 | 126.83 | -80.16 | 15.56 | 0 | -8.74 |
| 20Q2 (6) | 23.33 | 12.98 | 23.24 | 12.17 | 45.57 | 102.16 | 10.42 | 9.11 | 30.74 | 7.71 | 9.21 | 45.47 | 1.94 | 28.48 | 71.68 | 1.31 | 24.76 | 57.83 | 0.16 | 14.29 | 6.67 | 18.56 | -2.83 | 0.0 | 57.52 | 13.09 | 18.48 | 117.33 | 33.13 | 55.39 | -17.33 | -246.1 | -170.78 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 20.65 | 6.94 | 7.33 | 8.36 | 15.63 | 41.46 | 9.55 | 91.0 | 31.36 | 7.06 | 55.16 | 29.07 | 1.51 | 32.46 | 34.82 | 1.05 | 29.63 | 29.63 | 0.14 | -17.65 | 0.0 | 19.10 | 45.8 | 3.02 | 50.86 | -1.47 | 10.37 | 88.14 | -38.47 | 8.87 | 11.86 | 127.44 | -37.71 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 19.31 | 2.49 | 0.0 | 7.23 | 5.39 | 0.0 | 5.00 | -44.07 | 0.0 | 4.55 | -25.04 | 0.0 | 1.14 | -24.0 | 0.0 | 0.81 | -21.36 | 0.0 | 0.17 | 0.0 | 0.0 | 13.10 | -23.66 | 0.0 | 51.62 | 0.19 | 0.0 | 143.24 | 87.09 | 0.0 | -43.24 | -284.5 | 0.0 | 17.03 | -0.12 | 0.0 |
| 19Q3 (3) | 18.84 | -0.48 | 0.0 | 6.86 | 13.95 | 0.0 | 8.94 | 12.17 | 0.0 | 6.07 | 14.53 | 0.0 | 1.50 | 32.74 | 0.0 | 1.03 | 24.1 | 0.0 | 0.17 | 13.33 | 0.0 | 17.16 | -7.54 | 0.0 | 51.52 | 6.12 | 0.0 | 76.56 | 1.39 | 0.0 | 23.44 | -4.3 | 0.0 | 17.05 | -11.15 | 0.0 |
| 19Q2 (2) | 18.93 | -1.61 | 0.0 | 6.02 | 1.86 | 0.0 | 7.97 | 9.63 | 0.0 | 5.30 | -3.11 | 0.0 | 1.13 | 0.89 | 0.0 | 0.83 | 2.47 | 0.0 | 0.15 | 7.14 | 0.0 | 18.56 | 0.11 | 0.0 | 48.55 | 5.36 | 0.0 | 75.51 | -6.72 | 0.0 | 24.49 | 28.57 | 0.0 | 19.19 | 3.62 | 0.0 |
| 19Q1 (1) | 19.24 | 0.0 | 0.0 | 5.91 | 0.0 | 0.0 | 7.27 | 0.0 | 0.0 | 5.47 | 0.0 | 0.0 | 1.12 | 0.0 | 0.0 | 0.81 | 0.0 | 0.0 | 0.14 | 0.0 | 0.0 | 18.54 | 0.0 | 0.0 | 46.08 | 0.0 | 0.0 | 80.95 | 0.0 | 0.0 | 19.05 | 0.0 | 0.0 | 18.52 | 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) | 17.94 | -18.27 | 5.75 | -37.09 | 11.00 | 8.2 | 6.67 | -45.19 | 4.60 | -50.48 | 3.56 | -53.89 | 2.56 | -47.0 | 0.45 | -8.16 | 19.16 | -17.34 | 71.62 | -2.4 | 86.19 | 15.03 | 13.81 | -44.28 | 0.08 | -20.86 | 13.88 | -12.7 |
| 2022 (9) | 21.95 | -23.04 | 9.14 | -49.86 | 10.17 | 44.05 | 12.17 | -33.39 | 9.29 | -34.62 | 7.72 | -50.16 | 4.83 | -50.05 | 0.49 | -26.87 | 23.18 | -10.02 | 73.38 | 10.15 | 74.93 | -24.96 | 24.79 | 16184.62 | 0.10 | -14.3 | 15.90 | 1.79 |
| 2021 (8) | 28.52 | 30.65 | 18.23 | 71.5 | 7.06 | -3.99 | 18.27 | 86.62 | 14.21 | 91.77 | 15.49 | 108.48 | 9.67 | 94.57 | 0.67 | 4.69 | 25.76 | 46.53 | 66.62 | 11.76 | 99.85 | -7.93 | 0.15 | 0 | 0.12 | -3.05 | 15.62 | -6.07 |
| 2020 (7) | 21.83 | 14.41 | 10.63 | 62.04 | 7.35 | -14.86 | 9.79 | 35.03 | 7.41 | 39.02 | 7.43 | 51.63 | 4.97 | 43.23 | 0.64 | 4.92 | 17.58 | 7.26 | 59.61 | 15.48 | 108.45 | 20.43 | -8.45 | 0 | 0.12 | -8.62 | 16.63 | -6.89 |
| 2019 (6) | 19.08 | -3.25 | 6.56 | -19.21 | 8.63 | 15.04 | 7.25 | -14.5 | 5.33 | -8.58 | 4.90 | -16.95 | 3.47 | -15.16 | 0.61 | -8.96 | 16.39 | -1.74 | 51.62 | 8.42 | 90.05 | -5.93 | 9.42 | 120.52 | 0.13 | -8.21 | 17.86 | 5.49 |
| 2018 (5) | 19.72 | 8.35 | 8.12 | 9.73 | 7.51 | 8.18 | 8.48 | 31.27 | 5.83 | 18.98 | 5.90 | 11.74 | 4.09 | 16.86 | 0.67 | 0.0 | 16.68 | 18.13 | 47.61 | -12.91 | 95.73 | -16.52 | 4.27 | 0 | 0.15 | 0 | 16.93 | 15.88 |
| 2017 (4) | 18.20 | 8.01 | 7.40 | 18.97 | 6.94 | -5.95 | 6.46 | 33.2 | 4.90 | 49.85 | 5.28 | 43.87 | 3.50 | 39.44 | 0.67 | -2.9 | 14.12 | 8.87 | 54.67 | -19.44 | 114.67 | -10.74 | -14.67 | 0 | 0.00 | 0 | 14.61 | 9.93 |
| 2016 (3) | 16.85 | 5.38 | 6.22 | 43.98 | 7.38 | -14.14 | 4.85 | -6.01 | 3.27 | -11.14 | 3.67 | -5.17 | 2.51 | -8.39 | 0.69 | 2.99 | 12.97 | -9.11 | 67.86 | 17.43 | 128.47 | 53.75 | -28.47 | 0 | 0.00 | 0 | 13.29 | -1.34 |
| 2015 (2) | 15.99 | -3.38 | 4.32 | -17.08 | 8.59 | -3.22 | 5.16 | -20.86 | 3.68 | -22.03 | 3.87 | -25.43 | 2.74 | -23.68 | 0.67 | -4.29 | 14.27 | -10.53 | 57.79 | 4.81 | 83.56 | 4.73 | 16.44 | -18.67 | 0.00 | 0 | 13.47 | 3.06 |
| 2014 (1) | 16.55 | 0 | 5.21 | 0 | 8.88 | 3.92 | 6.52 | 0 | 4.72 | 0 | 5.19 | 0 | 3.59 | 0 | 0.70 | -4.11 | 15.95 | 23.55 | 55.14 | -8.44 | 79.79 | -9.15 | 20.21 | 66.03 | 0.00 | 0 | 13.07 | 24.83 |
