- 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) | 13.79 | 45.93 | 10.85 | -0.19 | 97.06 | 88.13 | -0.20 | -107.6 | 93.4 | -0.54 | -118.95 | 81.76 | -0.10 | -121.28 | 83.87 | -0.04 | -109.76 | 90.7 | 0.15 | 15.38 | -6.25 | 5.68 | -41.68 | 60.45 | 25.64 | -0.04 | -20.64 | 0.00 | 100.0 | -100.0 | 0.00 | -100.0 | -100.0 | 24.33 | -11.43 | 3.8 |
| 23Q3 (19) | 9.45 | -12.17 | -16.45 | -6.46 | -135.77 | -84.57 | 2.63 | 455.41 | -71.16 | 2.85 | 371.43 | -64.15 | 0.47 | 376.47 | -66.19 | 0.41 | 555.56 | -62.39 | 0.13 | 0.0 | 0.0 | 9.74 | 50.08 | -42.6 | 25.65 | -3.46 | -16.77 | -250.00 | -162.5 | -525.0 | 350.00 | 216.67 | 150.0 | 27.47 | 7.18 | 7.1 |
| 23Q2 (18) | 10.76 | 27.04 | -0.19 | -2.74 | 44.98 | 46.8 | -0.74 | 85.2 | 75.33 | -1.05 | 79.13 | 70.99 | -0.17 | 81.91 | 70.69 | -0.09 | 86.96 | 76.92 | 0.13 | -7.14 | 8.33 | 6.49 | 183.41 | 10.37 | 26.57 | 4.2 | -24.71 | 400.00 | 300.0 | 150.0 | -300.00 | 0 | -400.0 | 25.63 | 7.15 | -6.6 |
| 23Q1 (17) | 8.47 | -31.91 | -19.79 | -4.98 | -211.25 | 14.14 | -5.00 | -65.02 | -148.73 | -5.03 | -69.93 | -150.71 | -0.94 | -51.61 | -164.38 | -0.69 | -60.47 | -157.98 | 0.14 | -12.5 | 16.67 | 2.29 | -35.31 | -88.13 | 25.50 | -21.08 | -23.61 | 100.00 | 100.0 | 275.0 | -0.00 | -100.0 | -100.0 | 23.92 | 2.05 | -17.12 |
| 22Q4 (16) | 12.44 | 9.99 | -21.76 | -1.60 | 54.29 | -328.57 | -3.03 | -133.22 | -397.06 | -2.96 | -137.23 | -470.0 | -0.62 | -144.6 | -576.92 | -0.43 | -139.45 | -490.91 | 0.16 | 23.08 | 14.29 | 3.54 | -79.14 | -34.08 | 32.31 | 4.83 | 68.54 | 50.00 | 225.0 | 0.0 | 50.00 | -64.29 | 0 | 23.44 | -8.62 | -11.61 |
| 22Q3 (15) | 11.31 | 4.92 | -26.22 | -3.50 | 32.04 | -331.79 | 9.12 | 404.0 | -29.03 | 7.95 | 319.61 | -38.18 | 1.39 | 339.66 | -27.23 | 1.09 | 379.49 | -34.34 | 0.13 | 8.33 | 0.0 | 16.97 | 188.61 | -8.07 | 30.82 | -12.67 | 95.68 | -40.00 | -125.0 | -440.0 | 140.00 | 333.33 | 58.67 | 25.65 | -6.52 | -1.99 |
| 22Q2 (14) | 10.78 | 2.08 | -24.24 | -5.15 | 11.21 | -73.4 | -3.00 | -129.24 | 24.43 | -3.62 | -136.49 | 1.09 | -0.58 | -139.73 | -20.83 | -0.39 | -132.77 | 7.14 | 0.12 | 0.0 | 0.0 | 5.88 | -69.52 | 241.86 | 35.29 | 5.72 | 156.47 | 160.00 | 380.0 | 166.67 | -60.00 | -138.18 | -400.0 | 27.44 | -4.92 | -11.54 |
| 22Q1 (13) | 10.56 | -33.58 | -30.57 | -5.80 | -928.57 | -1626.32 | 10.26 | 905.88 | 1151.22 | 9.92 | 1140.0 | 1258.9 | 1.46 | 1023.08 | 1227.27 | 1.19 | 981.82 | 1222.22 | 0.12 | -14.29 | -7.69 | 19.29 | 259.22 | 206.19 | 33.38 | 74.13 | 133.43 | -57.14 | -214.29 | 0 | 157.14 | 0 | 57.14 | 28.86 | 8.82 | 2.16 |
| 21Q4 (12) | 15.90 | 3.72 | -2.15 | 0.70 | -53.64 | -70.46 | 1.02 | -92.06 | -45.74 | 0.80 | -93.78 | -50.31 | 0.13 | -93.19 | -58.06 | 0.11 | -93.37 | -59.26 | 0.14 | 7.69 | -12.5 | 5.37 | -70.91 | -12.4 | 19.17 | 21.71 | 1.05 | 50.00 | 325.0 | -62.5 | 0.00 | -100.0 | 100.0 | 26.52 | 1.34 | 10.22 |
| 21Q3 (11) | 15.33 | 7.73 | 3.02 | 1.51 | 150.84 | 15200.0 | 12.85 | 423.68 | 127.84 | 12.86 | 451.37 | 130.05 | 1.91 | 497.92 | 109.89 | 1.66 | 495.24 | 112.82 | 0.13 | 8.33 | -7.14 | 18.46 | 973.26 | 68.58 | 15.75 | 14.46 | -2.66 | 11.76 | -80.39 | 0 | 88.24 | 341.18 | -11.76 | 26.17 | -15.64 | -4.42 |
| 21Q2 (10) | 14.23 | -6.44 | 5.1 | -2.97 | -881.58 | -518.31 | -3.97 | -584.15 | -186.49 | -3.66 | -601.37 | -172.33 | -0.48 | -536.36 | -161.54 | -0.42 | -566.67 | -163.64 | 0.12 | -7.69 | -7.69 | 1.72 | -72.7 | -82.8 | 13.76 | -3.78 | -25.98 | 60.00 | 0 | 260.0 | 20.00 | -80.0 | -76.0 | 31.02 | 9.81 | 0 |
| 21Q1 (9) | 15.21 | -6.4 | -4.4 | 0.38 | -83.97 | -60.0 | 0.82 | -56.38 | -67.46 | 0.73 | -54.66 | -64.39 | 0.11 | -64.52 | -64.52 | 0.09 | -66.67 | -66.67 | 0.13 | -18.75 | 0.0 | 6.30 | 2.77 | -18.08 | 14.30 | -24.62 | -9.55 | 0.00 | -100.0 | -100.0 | 100.00 | 400.0 | 50.0 | 28.25 | 17.41 | 1.51 |
| 20Q4 (8) | 16.25 | 9.21 | 6.35 | 2.37 | 23800.0 | 8.72 | 1.88 | -66.67 | -45.19 | 1.61 | -71.2 | -51.06 | 0.31 | -65.93 | -49.18 | 0.27 | -65.38 | -48.08 | 0.16 | 14.29 | 0.0 | 6.13 | -44.02 | -18.27 | 18.97 | 17.24 | 4.58 | 133.33 | 0 | 122.22 | -33.33 | -133.33 | -183.33 | 24.06 | -12.13 | -3.18 |
| 20Q3 (7) | 14.88 | 9.9 | -4.43 | -0.01 | -101.41 | -103.23 | 5.64 | 22.88 | -46.59 | 5.59 | 10.47 | -46.25 | 0.91 | 16.67 | -43.83 | 0.78 | 18.18 | -43.88 | 0.14 | 7.69 | 7.69 | 10.95 | 9.5 | -31.18 | 16.18 | -12.96 | 3.85 | 0.00 | -100.0 | 0 | 100.00 | 20.0 | 0.0 | 27.38 | 0 | -4.17 |
| 20Q2 (6) | 13.54 | -14.9 | 9.81 | 0.71 | -25.26 | 212.7 | 4.59 | 82.14 | 165.32 | 5.06 | 146.83 | 368.52 | 0.78 | 151.61 | 387.5 | 0.66 | 144.44 | 371.43 | 0.13 | 0.0 | 0.0 | 10.00 | 30.04 | 38.89 | 18.59 | 17.58 | 12.46 | 16.67 | -50.0 | 133.33 | 83.33 | 25.0 | -44.44 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 15.91 | 4.12 | 44.24 | 0.95 | -56.42 | 23.38 | 2.52 | -26.53 | 0.4 | 2.05 | -37.69 | -15.98 | 0.31 | -49.18 | -13.89 | 0.27 | -48.08 | -10.0 | 0.13 | -18.75 | 8.33 | 7.69 | 2.53 | -6.22 | 15.81 | -12.84 | 3.88 | 33.33 | -44.44 | 0.0 | 66.67 | 66.67 | 0.0 | 27.83 | 11.99 | 7.41 |
| 19Q4 (4) | 15.28 | -1.86 | 0.0 | 2.18 | 603.23 | 0.0 | 3.43 | -67.52 | 0.0 | 3.29 | -68.37 | 0.0 | 0.61 | -62.35 | 0.0 | 0.52 | -62.59 | 0.0 | 0.16 | 23.08 | 0.0 | 7.50 | -52.86 | 0.0 | 18.14 | 16.43 | 0.0 | 60.00 | 0 | 0.0 | 40.00 | -60.0 | 0.0 | 24.85 | -13.02 | 0.0 |
| 19Q3 (3) | 15.57 | 26.28 | 0.0 | 0.31 | 149.21 | 0.0 | 10.56 | 510.4 | 0.0 | 10.40 | 862.96 | 0.0 | 1.62 | 912.5 | 0.0 | 1.39 | 892.86 | 0.0 | 0.13 | 0.0 | 0.0 | 15.91 | 120.97 | 0.0 | 15.58 | -5.75 | 0.0 | 0.00 | 100.0 | 0.0 | 100.00 | -33.33 | 0.0 | 28.57 | 7.45 | 0.0 |
| 19Q2 (2) | 12.33 | 11.79 | 0.0 | -0.63 | -181.82 | 0.0 | 1.73 | -31.08 | 0.0 | 1.08 | -55.74 | 0.0 | 0.16 | -55.56 | 0.0 | 0.14 | -53.33 | 0.0 | 0.13 | 8.33 | 0.0 | 7.20 | -12.2 | 0.0 | 16.53 | 8.61 | 0.0 | -50.00 | -250.0 | 0.0 | 150.00 | 125.0 | 0.0 | 26.59 | 2.62 | 0.0 |
| 19Q1 (1) | 11.03 | 0.0 | 0.0 | 0.77 | 0.0 | 0.0 | 2.51 | 0.0 | 0.0 | 2.44 | 0.0 | 0.0 | 0.36 | 0.0 | 0.0 | 0.30 | 0.0 | 0.0 | 0.12 | 0.0 | 0.0 | 8.20 | 0.0 | 0.0 | 15.22 | 0.0 | 0.0 | 33.33 | 0.0 | 0.0 | 66.67 | 0.0 | 0.0 | 25.91 | 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) | 10.66 | -6.24 | -3.52 | 0 | 6.07 | -15.41 | -0.94 | 0 | -1.06 | 0 | -0.73 | 0 | -0.41 | 0 | 0.54 | -3.57 | 5.77 | -46.02 | 25.64 | -20.64 | 383.33 | 0 | -283.33 | 0 | 0.08 | -48.93 | 25.26 | -3.18 |
| 2022 (9) | 11.37 | -25.3 | -3.81 | 0 | 7.18 | 38.99 | 2.87 | 1.77 | 2.38 | -15.0 | 1.68 | 1.2 | 1.52 | 8.57 | 0.56 | 12.0 | 10.69 | 33.13 | 32.31 | 68.54 | -131.58 | 0 | 231.58 | 131.58 | 0.16 | 74.76 | 26.09 | -6.32 |
| 2021 (8) | 15.22 | 0.07 | 0.01 | -99.07 | 5.16 | 6.88 | 2.82 | -21.23 | 2.80 | -19.54 | 1.66 | -26.55 | 1.40 | -26.7 | 0.50 | -9.09 | 8.03 | -8.44 | 19.17 | 1.05 | 0.00 | 0 | 100.00 | 42.86 | 0.09 | 0 | 27.85 | 5.25 |
| 2020 (7) | 15.21 | 7.64 | 1.07 | -16.41 | 4.83 | -2.68 | 3.58 | -21.15 | 3.48 | -19.07 | 2.26 | -17.52 | 1.91 | -17.67 | 0.55 | 1.85 | 8.77 | -9.96 | 18.97 | 4.58 | 30.00 | 7.14 | 70.00 | -2.78 | 0.00 | 0 | 26.46 | 1.03 |
| 2019 (6) | 14.13 | 6.64 | 1.28 | 0 | 4.96 | 1.94 | 4.54 | 55.48 | 4.30 | 57.51 | 2.74 | 54.8 | 2.32 | 55.7 | 0.54 | 0.0 | 9.74 | 20.99 | 18.14 | -2.99 | 28.00 | 0 | 72.00 | -32.24 | 0.10 | -4.55 | 26.19 | -2.46 |
| 2018 (5) | 13.25 | -4.54 | -0.25 | 0 | 4.87 | -5.58 | 2.92 | 10.19 | 2.73 | 16.67 | 1.77 | 14.94 | 1.49 | 16.41 | 0.54 | -1.82 | 8.05 | -0.62 | 18.70 | -8.15 | -6.25 | 0 | 106.25 | 48.75 | 0.10 | 0 | 26.85 | -1.03 |
| 2017 (4) | 13.88 | -14.0 | 0.90 | -78.62 | 5.16 | 2.96 | 2.65 | -64.99 | 2.34 | -63.61 | 1.54 | -66.81 | 1.28 | -66.4 | 0.55 | -6.78 | 8.10 | -36.17 | 20.36 | -1.59 | 35.71 | -35.71 | 71.43 | 60.71 | 0.00 | 0 | 27.13 | 8.52 |
| 2016 (3) | 16.14 | 3.99 | 4.21 | -15.63 | 5.01 | -11.56 | 7.57 | 15.93 | 6.43 | 17.98 | 4.64 | -2.32 | 3.81 | 0.26 | 0.59 | -15.71 | 12.69 | 3.25 | 20.69 | -9.69 | 55.56 | -27.47 | 44.44 | 89.9 | 0.00 | 0 | 25.00 | 12.56 |
| 2015 (2) | 15.52 | -12.07 | 4.99 | -34.26 | 5.66 | -2.65 | 6.53 | -29.25 | 5.45 | -29.68 | 4.75 | -29.32 | 3.80 | -27.89 | 0.70 | 2.94 | 12.29 | -18.61 | 22.91 | -16.02 | 76.60 | -6.69 | 23.40 | 30.67 | 0.00 | 0 | 22.21 | -2.54 |
| 2014 (1) | 17.65 | 0 | 7.59 | 0 | 5.82 | -11.49 | 9.23 | 0 | 7.75 | 0 | 6.72 | 0 | 5.27 | 0 | 0.68 | -8.11 | 15.10 | -16.3 | 27.28 | -2.26 | 82.09 | 0.33 | 17.91 | -7.29 | 0.00 | 0 | 22.79 | 0.0 |
