- 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) | 29.90 | -1.58 | 4.51 | 6.17 | 93.42 | 392.42 | 3.31 | -57.35 | 157.77 | 3.31 | -41.62 | 157.67 | 2.70 | -35.41 | 169.41 | 1.27 | -28.25 | 200.79 | 0.35 | 20.69 | 45.83 | 8.89 | -36.91 | 477.27 | 121.54 | -17.57 | -34.12 | 188.46 | 347.6 | 398.08 | -88.46 | -248.3 | -236.38 | 8.81 | -15.37 | -25.97 |
| 23Q3 (19) | 30.38 | -4.5 | 0.13 | 3.19 | 63.59 | 27.6 | 7.76 | -58.39 | -22.94 | 5.67 | -69.15 | -43.64 | 4.18 | -72.28 | -52.39 | 1.77 | -67.52 | -46.36 | 0.29 | 0.0 | -9.38 | 14.09 | -42.49 | -10.82 | 147.44 | -8.6 | -13.78 | 42.11 | 292.11 | 66.42 | 59.65 | -33.67 | -20.15 | 10.41 | -0.48 | 2.56 |
| 23Q2 (18) | 31.81 | 10.07 | 8.6 | 1.95 | 142.86 | -62.5 | 18.65 | 519.1 | 50.4 | 18.38 | 512.11 | 49.19 | 15.08 | 660.59 | 11.95 | 5.45 | 836.49 | 1.3 | 0.29 | 45.0 | -32.56 | 24.50 | 525.0 | 44.37 | 161.31 | -23.65 | -10.81 | 10.74 | -89.26 | -74.39 | 89.93 | 2348.32 | 54.88 | 10.46 | -20.64 | 8.06 |
| 23Q1 (17) | 28.90 | 1.01 | 7.84 | -4.55 | -115.64 | -228.9 | -4.45 | 22.34 | -183.18 | -4.46 | 22.3 | -189.74 | -2.69 | 30.85 | -159.12 | -0.74 | 41.27 | -136.63 | 0.20 | -16.67 | -48.72 | 3.92 | 154.55 | -62.77 | 211.29 | 14.52 | 62.64 | 100.00 | 164.29 | 55.17 | -4.00 | -106.17 | -112.0 | 13.18 | 10.76 | 49.26 |
| 22Q4 (16) | 28.61 | -5.7 | 8.29 | -2.11 | -184.4 | -188.28 | -5.73 | -156.9 | -265.61 | -5.74 | -157.06 | -267.35 | -3.89 | -144.31 | -207.46 | -1.26 | -138.18 | -182.89 | 0.24 | -25.0 | -42.86 | 1.54 | -90.25 | -81.31 | 184.50 | 7.89 | 31.98 | 37.84 | 49.55 | -44.96 | 64.86 | -13.16 | 107.57 | 11.90 | 17.24 | 49.31 |
| 22Q3 (15) | 30.34 | 3.58 | 9.02 | 2.50 | -51.92 | -11.66 | 10.07 | -18.79 | 252.1 | 10.06 | -18.34 | 260.57 | 8.78 | -34.82 | 233.84 | 3.30 | -38.66 | 182.05 | 0.32 | -25.58 | -17.95 | 15.80 | -6.89 | 100.0 | 171.00 | -5.45 | 4.19 | 25.30 | -39.67 | -73.64 | 74.70 | 28.65 | 0 | 10.15 | 4.86 | 27.03 |
| 22Q2 (14) | 29.29 | 9.29 | 8.68 | 5.20 | 47.31 | 900.0 | 12.40 | 131.78 | 43.35 | 12.32 | 147.89 | 42.43 | 13.47 | 196.04 | 84.27 | 5.38 | 166.34 | 60.6 | 0.43 | 10.26 | 13.16 | 16.97 | 61.16 | 28.56 | 180.86 | 39.22 | 44.86 | 41.94 | -34.93 | 612.9 | 58.06 | 74.19 | -38.31 | 9.68 | 9.63 | 3.75 |
| 22Q1 (13) | 26.80 | 1.44 | -2.9 | 3.53 | 47.7 | 2615.38 | 5.35 | 54.62 | 675.27 | 4.97 | 44.9 | 465.44 | 4.55 | 25.69 | 569.07 | 2.02 | 32.89 | 694.12 | 0.39 | -7.14 | 21.88 | 10.53 | 27.79 | 72.91 | 129.91 | -7.07 | 8.86 | 64.44 | -6.26 | 486.67 | 33.33 | 6.67 | -71.43 | 8.83 | 10.79 | -21.65 |
| 21Q4 (12) | 26.42 | -5.07 | 0.61 | 2.39 | -15.55 | 236.62 | 3.46 | 20.98 | 127.63 | 3.43 | 22.94 | 136.55 | 3.62 | 37.64 | 168.15 | 1.52 | 29.91 | 123.53 | 0.42 | 7.69 | 2.44 | 8.24 | 4.3 | 30.38 | 139.79 | -14.82 | 12.91 | 68.75 | -28.39 | 37.5 | 31.25 | 0 | -46.43 | 7.97 | -0.25 | -14.39 |
| 21Q3 (11) | 27.83 | 3.27 | -6.55 | 2.83 | 444.23 | -43.85 | 2.86 | -66.94 | -1.72 | 2.79 | -67.75 | -3.79 | 2.63 | -64.02 | 0.38 | 1.17 | -65.07 | -3.31 | 0.39 | 2.63 | 2.63 | 7.90 | -40.15 | -9.4 | 164.12 | 31.45 | 25.94 | 96.00 | 1532.0 | -45.51 | 0.00 | -100.0 | 100.0 | 7.99 | -14.36 | -17.63 |
| 21Q2 (10) | 26.95 | -2.36 | -12.13 | 0.52 | 300.0 | -90.0 | 8.65 | 1030.11 | -12.89 | 8.65 | 736.03 | -12.45 | 7.31 | 853.61 | -27.05 | 3.35 | 1085.29 | -21.36 | 0.38 | 18.75 | -9.52 | 13.20 | 116.75 | -16.51 | 124.85 | 4.62 | -12.31 | 5.88 | 135.29 | -88.54 | 94.12 | -19.33 | 98.99 | 9.33 | -17.21 | 0 |
| 21Q1 (9) | 27.60 | 5.1 | 2.79 | 0.13 | -81.69 | 104.51 | -0.93 | -161.18 | 63.67 | -1.36 | -193.79 | 47.29 | -0.97 | -171.85 | 49.48 | -0.34 | -150.0 | 51.43 | 0.32 | -21.95 | 3.23 | 6.09 | -3.64 | 5.18 | 119.34 | -3.61 | -14.94 | -16.67 | -133.33 | -114.44 | 116.67 | 100.0 | 858.33 | 11.27 | 21.05 | -6.16 |
| 20Q4 (8) | 26.26 | -11.82 | -10.92 | 0.71 | -85.91 | 168.27 | 1.52 | -47.77 | 142.7 | 1.45 | -50.0 | 140.73 | 1.35 | -48.47 | 153.36 | 0.68 | -43.8 | 172.34 | 0.41 | 7.89 | 36.67 | 6.32 | -27.52 | 19.92 | 123.81 | -5.0 | -7.93 | 50.00 | -71.62 | 58.33 | 58.33 | 176.56 | -14.74 | 9.31 | -4.02 | -25.99 |
| 20Q3 (7) | 29.78 | -2.9 | -7.02 | 5.04 | -3.08 | 72.6 | 2.91 | -70.69 | 22.27 | 2.90 | -70.65 | 21.85 | 2.62 | -73.85 | 30.35 | 1.21 | -71.6 | 30.11 | 0.38 | -9.52 | 11.76 | 8.72 | -44.85 | -10.29 | 130.32 | -8.47 | -6.59 | 176.19 | 243.11 | 39.1 | -76.19 | -261.09 | -185.71 | 9.70 | 0 | -7.09 |
| 20Q2 (6) | 30.67 | 14.23 | -1.0 | 5.20 | 280.56 | -12.31 | 9.93 | 487.89 | -11.65 | 9.88 | 482.95 | -11.79 | 10.02 | 621.88 | -10.46 | 4.26 | 708.57 | -4.05 | 0.42 | 35.48 | 10.53 | 15.81 | 173.06 | -11.92 | 142.38 | 1.48 | -13.1 | 51.35 | -55.5 | -2.07 | 47.30 | 407.43 | -0.55 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 26.85 | -8.92 | 2.68 | -2.88 | -176.92 | 54.07 | -2.56 | 28.09 | 57.62 | -2.58 | 27.53 | 57.28 | -1.92 | 24.11 | 56.46 | -0.70 | 25.53 | 63.16 | 0.31 | 3.33 | -8.82 | 5.79 | 9.87 | 72.32 | 140.30 | 4.34 | -10.14 | 115.38 | 265.38 | 8.6 | -15.38 | -122.49 | -392.31 | 12.01 | -4.53 | 6.85 |
| 19Q4 (4) | 29.48 | -7.96 | 0.0 | -1.04 | -135.62 | 0.0 | -3.56 | -249.58 | 0.0 | -3.56 | -249.58 | 0.0 | -2.53 | -225.87 | 0.0 | -0.94 | -201.08 | 0.0 | 0.30 | -11.76 | 0.0 | 5.27 | -45.78 | 0.0 | 134.47 | -3.62 | 0.0 | 31.58 | -75.07 | 0.0 | 68.42 | 356.58 | 0.0 | 12.58 | 20.5 | 0.0 |
| 19Q3 (3) | 32.03 | 3.39 | 0.0 | 2.92 | -50.76 | 0.0 | 2.38 | -78.83 | 0.0 | 2.38 | -78.75 | 0.0 | 2.01 | -82.04 | 0.0 | 0.93 | -79.05 | 0.0 | 0.34 | -10.53 | 0.0 | 9.72 | -45.85 | 0.0 | 139.52 | -14.84 | 0.0 | 126.67 | 141.55 | 0.0 | -26.67 | -156.07 | 0.0 | 10.44 | 3.16 | 0.0 |
| 19Q2 (2) | 30.98 | 18.47 | 0.0 | 5.93 | 194.58 | 0.0 | 11.24 | 286.09 | 0.0 | 11.20 | 285.43 | 0.0 | 11.19 | 353.74 | 0.0 | 4.44 | 333.68 | 0.0 | 0.38 | 11.76 | 0.0 | 17.95 | 434.23 | 0.0 | 163.84 | 4.93 | 0.0 | 52.44 | -50.65 | 0.0 | 47.56 | 1621.95 | 0.0 | 10.12 | -9.96 | 0.0 |
| 19Q1 (1) | 26.15 | 0.0 | 0.0 | -6.27 | 0.0 | 0.0 | -6.04 | 0.0 | 0.0 | -6.04 | 0.0 | 0.0 | -4.41 | 0.0 | 0.0 | -1.90 | 0.0 | 0.0 | 0.34 | 0.0 | 0.0 | 3.36 | 0.0 | 0.0 | 156.14 | 0.0 | 0.0 | 106.25 | 0.0 | 0.0 | -3.12 | 0.0 | 0.0 | 11.24 | 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) | 30.36 | 5.45 | 2.17 | -18.73 | 5.76 | 12.86 | 7.18 | 10.8 | 6.57 | 3.3 | 19.93 | -13.8 | 8.52 | -7.89 | 1.20 | -13.04 | 13.59 | 13.06 | 121.54 | -34.12 | 30.29 | -26.0 | 69.71 | 18.95 | 0.00 | 0 | 10.52 | 4.99 |
| 2022 (9) | 28.79 | 5.96 | 2.67 | 66.87 | 5.10 | 3.73 | 6.48 | 75.14 | 6.36 | 77.65 | 23.12 | 80.34 | 9.25 | 57.31 | 1.38 | -10.39 | 12.02 | 34.45 | 184.50 | 31.98 | 40.93 | -4.5 | 58.60 | 4.09 | 0.00 | 0 | 10.02 | 11.71 |
| 2021 (8) | 27.17 | -4.53 | 1.60 | -32.49 | 4.92 | -13.38 | 3.70 | 10.45 | 3.58 | 8.16 | 12.82 | 12.65 | 5.88 | 9.29 | 1.54 | 2.67 | 8.94 | -4.89 | 139.79 | 12.91 | 42.86 | -38.96 | 56.30 | 89.02 | 0.05 | -5.2 | 8.97 | -6.95 |
| 2020 (7) | 28.46 | -4.72 | 2.37 | 149.47 | 5.68 | -22.87 | 3.35 | 77.25 | 3.31 | 76.06 | 11.38 | 85.04 | 5.38 | 45.8 | 1.50 | -6.83 | 9.40 | -4.28 | 123.81 | -7.93 | 70.21 | 40.43 | 29.79 | -40.43 | 0.05 | -57.91 | 9.64 | -12.2 |
| 2019 (6) | 29.87 | 6.64 | 0.95 | 179.41 | 7.36 | 750.99 | 1.89 | -42.73 | 1.88 | -42.33 | 6.15 | -38.25 | 3.69 | -37.35 | 1.61 | -9.55 | 9.82 | 126.79 | 134.47 | 80.84 | 50.00 | 366.67 | 50.00 | -44.0 | 0.12 | 0 | 10.98 | 5.17 |
| 2018 (5) | 28.01 | -9.53 | 0.34 | -67.62 | 0.87 | 34.85 | 3.30 | -75.08 | 3.26 | -75.19 | 9.96 | -75.2 | 5.89 | -72.55 | 1.78 | 9.88 | 4.33 | -69.33 | 74.36 | 6.78 | 10.71 | 35.99 | 89.29 | -3.08 | 0.00 | 0 | 10.44 | -9.22 |
| 2017 (4) | 30.96 | -3.37 | 1.05 | -75.41 | 0.64 | -28.26 | 13.24 | 800.68 | 13.14 | 926.56 | 40.16 | 853.92 | 21.46 | 841.23 | 1.62 | 8.72 | 14.12 | 409.75 | 69.64 | -37.84 | 7.88 | -97.3 | 92.12 | 0 | 0.00 | 0 | 11.50 | 0.88 |
| 2016 (3) | 32.04 | -4.84 | 4.27 | 2568.75 | 0.89 | -31.27 | 1.47 | -40.96 | 1.28 | -34.36 | 4.21 | -47.38 | 2.28 | -41.09 | 1.49 | -1.32 | 2.77 | -40.94 | 112.04 | -13.57 | 291.67 | 4493.75 | -191.67 | 0 | 0.00 | 0 | 11.40 | -17.87 |
| 2015 (2) | 33.67 | 7.23 | 0.16 | 0 | 1.30 | -29.3 | 2.49 | -73.62 | 1.95 | -78.57 | 8.00 | -88.16 | 3.87 | -73.44 | 1.51 | 4.86 | 4.69 | -62.9 | 129.63 | -45.3 | 6.35 | 0 | 93.65 | -49.69 | 0.00 | 0 | 13.88 | -11.31 |
| 2014 (1) | 31.40 | 0 | -8.14 | 0 | 1.84 | -7.81 | 9.44 | 0 | 9.10 | 0 | 67.59 | 0 | 14.57 | 0 | 1.44 | -4.64 | 12.64 | 0 | 236.98 | -72.97 | -86.15 | 0 | 186.15 | 0 | 0.00 | 0 | 15.65 | 13.32 |
