- 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) | 4.35 | -23.55 | -15.2 | 1.69 | -37.64 | -12.44 | 0.33 | -71.05 | -31.25 | 0.14 | -86.0 | -33.33 | 0.20 | -89.9 | -53.49 | 0.44 | -55.1 | -12.0 | 0.37 | -13.95 | -5.13 | 3.30 | -29.34 | -5.71 | 227.30 | -36.41 | -45.52 | 507.07 | 112.64 | 25.81 | -408.08 | -194.73 | -34.94 | 0.00 | 0 | 0 |
| 23Q3 (19) | 5.69 | 9.63 | 23.97 | 2.71 | 25.46 | 77.12 | 1.14 | 0.0 | 52.0 | 1.00 | 5.26 | 58.73 | 1.98 | 2.59 | 7.61 | 0.98 | 1.03 | 42.03 | 0.43 | 2.38 | -20.37 | 4.67 | -2.1 | 49.2 | 357.47 | -0.15 | -21.24 | 238.46 | 26.06 | 16.27 | -138.46 | -54.84 | -31.74 | 0.00 | 0 | 0 |
| 23Q2 (18) | 5.19 | -5.81 | 13.32 | 2.16 | -6.09 | 103.77 | 1.14 | 14.0 | 245.45 | 0.95 | 25.0 | 533.33 | 1.93 | 28.67 | 503.12 | 0.97 | 22.78 | 234.48 | 0.42 | 7.69 | 0.0 | 4.77 | 6.47 | 62.24 | 358.01 | -11.05 | -15.28 | 189.17 | -17.5 | -41.63 | -89.42 | 30.85 | 59.94 | 0.00 | 0 | 0 |
| 23Q1 (17) | 5.51 | 7.41 | 31.19 | 2.30 | 19.17 | 460.98 | 1.00 | 108.33 | -9.91 | 0.76 | 261.9 | -3.8 | 1.50 | 248.84 | -10.71 | 0.79 | 58.0 | 49.06 | 0.39 | 0.0 | -15.22 | 4.48 | 28.0 | 35.35 | 402.49 | -3.54 | 3.27 | 229.31 | -43.1 | 516.47 | -129.31 | 57.24 | -305.89 | 0.00 | 0 | 0 |
| 22Q4 (16) | 5.13 | 11.76 | 26.67 | 1.93 | 26.14 | 704.17 | 0.48 | -36.0 | 250.0 | 0.21 | -66.67 | 127.63 | 0.43 | -76.63 | 128.86 | 0.50 | -27.54 | 433.33 | 0.39 | -27.78 | -9.3 | 3.50 | 11.82 | 73.27 | 417.24 | -8.08 | 19.46 | 403.03 | 96.51 | 641.21 | -302.42 | -187.75 | -274.4 | 0.00 | 0 | 0 |
| 22Q3 (15) | 4.59 | 0.22 | -21.27 | 1.53 | 44.34 | -29.17 | 0.75 | 127.27 | -58.33 | 0.63 | 320.0 | -60.87 | 1.84 | 475.0 | -37.63 | 0.69 | 137.93 | -17.86 | 0.54 | 28.57 | 28.57 | 3.13 | 6.46 | -25.48 | 453.90 | 7.41 | 28.43 | 205.10 | -36.72 | 70.23 | -105.10 | 52.92 | -413.13 | 0.00 | 0 | 0 |
| 22Q2 (14) | 4.58 | 9.05 | -4.38 | 1.06 | 158.54 | 541.67 | 0.33 | -70.27 | 6.45 | 0.15 | -81.01 | 215.38 | 0.32 | -80.95 | 252.38 | 0.29 | -45.28 | 163.64 | 0.42 | -8.7 | 10.53 | 2.94 | -11.18 | -3.29 | 422.60 | 8.43 | 33.6 | 324.11 | 771.33 | 506.51 | -223.21 | -455.42 | -224.19 | 0.00 | 0 | 0 |
| 22Q1 (13) | 4.20 | 3.7 | -28.93 | 0.41 | 70.83 | -76.97 | 1.11 | 446.88 | 52.05 | 0.79 | 203.95 | 75.56 | 1.68 | 212.75 | 107.41 | 0.53 | 453.33 | 51.43 | 0.46 | 6.98 | 6.98 | 3.31 | 63.86 | 0.91 | 389.76 | 11.6 | 13.97 | 37.20 | 149.95 | -84.65 | 62.80 | -63.78 | 144.14 | 0.00 | 0 | 0 |
| 21Q4 (12) | 4.05 | -30.53 | -14.56 | 0.24 | -88.89 | -79.83 | -0.32 | -117.78 | -180.0 | -0.76 | -147.2 | -590.91 | -1.49 | -150.51 | -645.0 | -0.15 | -117.86 | -225.0 | 0.43 | 2.38 | -4.44 | 2.02 | -51.9 | -28.87 | 349.26 | -1.18 | 16.9 | -74.47 | -161.81 | -124.67 | 173.40 | 946.62 | 186.3 | 0.00 | 0 | 0 |
| 21Q3 (11) | 5.83 | 21.71 | 12.33 | 2.16 | 1000.0 | 100.0 | 1.80 | 480.65 | 89.47 | 1.61 | 1338.46 | 93.98 | 2.95 | 1504.76 | 104.86 | 0.84 | 663.64 | 52.73 | 0.42 | 10.53 | -6.67 | 4.20 | 38.16 | 16.34 | 353.43 | 11.73 | 18.14 | 120.48 | 251.11 | 5.96 | -20.48 | -111.4 | -49.4 | 0.00 | 0 | 0 |
| 21Q2 (10) | 4.79 | -18.95 | -6.45 | -0.24 | -113.48 | -151.06 | 0.31 | -57.53 | 255.0 | -0.13 | -128.89 | 59.38 | -0.21 | -125.93 | 51.16 | 0.11 | -68.57 | 22.22 | 0.38 | -11.63 | 2.7 | 3.04 | -7.32 | -6.46 | 316.32 | -7.5 | 15.0 | -79.73 | -132.91 | 65.48 | 179.73 | 226.31 | -45.69 | 0.00 | 0 | 0 |
| 21Q1 (9) | 5.91 | 24.68 | 36.18 | 1.78 | 49.58 | 306.98 | 0.73 | 82.5 | 8.96 | 0.45 | 509.09 | 9.76 | 0.81 | 505.0 | 50.0 | 0.35 | 191.67 | -14.63 | 0.43 | -4.44 | 13.16 | 3.28 | 15.49 | -23.54 | 341.98 | 14.46 | 33.15 | 242.29 | -19.73 | 288.74 | -142.29 | 29.18 | -162.31 | 0.00 | 0 | 0 |
| 20Q4 (8) | 4.74 | -8.67 | -17.13 | 1.19 | 10.19 | 56.58 | 0.40 | -57.89 | 135.4 | -0.11 | -113.25 | 89.81 | -0.20 | -113.89 | 84.13 | 0.12 | -78.18 | 209.09 | 0.45 | 0.0 | 36.36 | 2.84 | -21.33 | 25.66 | 298.78 | -0.12 | 23.79 | 301.85 | 165.46 | 552.78 | -200.93 | -1365.58 | -220.56 | 0.00 | 0 | 0 |
| 20Q3 (7) | 5.19 | 1.37 | -4.07 | 1.08 | 129.79 | -10.0 | 0.95 | 575.0 | 2.15 | 0.83 | 359.37 | 5.06 | 1.44 | 434.88 | 17.07 | 0.55 | 511.11 | -12.7 | 0.45 | 21.62 | 2.27 | 3.61 | 11.08 | -10.2 | 299.15 | 8.76 | 14.14 | 113.71 | 149.24 | -11.96 | -13.71 | -104.14 | 53.61 | 0.00 | 0 | 0 |
| 20Q2 (6) | 5.12 | 17.97 | -12.03 | 0.47 | 154.65 | -69.08 | -0.20 | -129.85 | -118.35 | -0.32 | -178.05 | -135.16 | -0.43 | -179.63 | -129.05 | 0.09 | -78.05 | -87.84 | 0.37 | -2.63 | -19.57 | 3.25 | -24.24 | -23.35 | 275.06 | 7.1 | 10.84 | -230.95 | -79.91 | -265.04 | 330.95 | 44.92 | 921.96 | 0.00 | 0 | 0 |
| 20Q1 (5) | 4.34 | -24.13 | -8.44 | -0.86 | -213.16 | -221.13 | 0.67 | 159.29 | 52.27 | 0.41 | 137.96 | 46.43 | 0.54 | 142.86 | 28.57 | 0.41 | 472.73 | -8.89 | 0.38 | 15.15 | -9.52 | 4.29 | 89.82 | 14.71 | 256.83 | 6.41 | -1.67 | -128.37 | -92.55 | -179.97 | 228.37 | 37.02 | 477.3 | 0.00 | 0 | 0 |
| 19Q4 (4) | 5.72 | 5.73 | 0.0 | 0.76 | -36.67 | 0.0 | -1.13 | -221.51 | 0.0 | -1.08 | -236.71 | 0.0 | -1.26 | -202.44 | 0.0 | -0.11 | -117.46 | 0.0 | 0.33 | -25.0 | 0.0 | 2.26 | -43.78 | 0.0 | 241.36 | -7.91 | 0.0 | -66.67 | -151.62 | 0.0 | 166.67 | 663.93 | 0.0 | 0.00 | 0 | 0.0 |
| 19Q3 (3) | 5.41 | -7.04 | 0.0 | 1.20 | -21.05 | 0.0 | 0.93 | -14.68 | 0.0 | 0.79 | -13.19 | 0.0 | 1.23 | -16.89 | 0.0 | 0.63 | -14.86 | 0.0 | 0.44 | -4.35 | 0.0 | 4.02 | -5.19 | 0.0 | 262.10 | 5.62 | 0.0 | 129.15 | -7.71 | 0.0 | -29.55 | 26.6 | 0.0 | 0.00 | 0 | 0.0 |
| 19Q2 (2) | 5.82 | 22.78 | 0.0 | 1.52 | 114.08 | 0.0 | 1.09 | 147.73 | 0.0 | 0.91 | 225.0 | 0.0 | 1.48 | 252.38 | 0.0 | 0.74 | 64.44 | 0.0 | 0.46 | 9.52 | 0.0 | 4.24 | 13.37 | 0.0 | 248.15 | -4.99 | 0.0 | 139.93 | -12.83 | 0.0 | -40.26 | 33.48 | 0.0 | 0.00 | 0 | 0.0 |
| 19Q1 (1) | 4.74 | 0.0 | 0.0 | 0.71 | 0.0 | 0.0 | 0.44 | 0.0 | 0.0 | 0.28 | 0.0 | 0.0 | 0.42 | 0.0 | 0.0 | 0.45 | 0.0 | 0.0 | 0.42 | 0.0 | 0.0 | 3.74 | 0.0 | 0.0 | 261.18 | 0.0 | 0.0 | 160.53 | 0.0 | 0.0 | -60.53 | 0.0 | 0.0 | 0.00 | 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) | 5.21 | 12.53 | 2.24 | 77.78 | 1.86 | 8.36 | 0.93 | 38.81 | 0.74 | 60.87 | 4.88 | 11.93 | 3.23 | 47.49 | 1.63 | -16.84 | 4.34 | 35.2 | 227.30 | -45.52 | 241.79 | 28.13 | -141.87 | 0 | 0.00 | 0 | 0.00 | 0 |
| 2022 (9) | 4.63 | -9.92 | 1.26 | 24.75 | 1.72 | -14.27 | 0.67 | 6.35 | 0.46 | 58.62 | 4.36 | 109.62 | 2.19 | 88.79 | 1.96 | 15.29 | 3.21 | 2.88 | 417.24 | 19.46 | 188.71 | 16.87 | -88.71 | 0 | 0.00 | 0 | 0.00 | 0 |
| 2021 (8) | 5.14 | 5.76 | 1.01 | 83.64 | 2.00 | -15.5 | 0.63 | 31.25 | 0.29 | 31.82 | 2.08 | 57.58 | 1.16 | -0.85 | 1.70 | 3.03 | 3.12 | -9.83 | 349.26 | 16.9 | 161.47 | 40.52 | -61.47 | 0 | 0.92 | -4.65 | 0.00 | 0 |
| 2020 (7) | 4.86 | -10.17 | 0.55 | -49.07 | 2.37 | 1.72 | 0.48 | 6.67 | 0.22 | -33.33 | 1.32 | -34.0 | 1.17 | -34.64 | 1.65 | -3.51 | 3.46 | -5.98 | 298.78 | 23.79 | 114.91 | -51.93 | -14.91 | 0 | 0.97 | 48.41 | 0.00 | 0 |
| 2019 (6) | 5.41 | 14.14 | 1.08 | 11.34 | 2.33 | 11.27 | 0.45 | -25.0 | 0.33 | -26.67 | 2.00 | -29.33 | 1.79 | -5.29 | 1.71 | -7.07 | 3.68 | 7.6 | 241.36 | -9.43 | 239.06 | 48.15 | -139.06 | 0 | 0.65 | 160.69 | 0.00 | 0 |
| 2018 (5) | 4.74 | -13.82 | 0.97 | -36.18 | 2.09 | -4.62 | 0.60 | -36.17 | 0.45 | -46.43 | 2.83 | -42.24 | 1.89 | -19.57 | 1.84 | -1.08 | 3.42 | -6.3 | 266.50 | 21.13 | 161.36 | 0.0 | -61.36 | 0 | 0.25 | 0 | 0.00 | 0 |
| 2017 (4) | 5.50 | -4.01 | 1.52 | 7.8 | 2.19 | 4.12 | 0.94 | -26.56 | 0.84 | -20.0 | 4.90 | -21.35 | 2.35 | -6.0 | 1.86 | 5.08 | 3.65 | -4.7 | 220.02 | 7.78 | 161.36 | 46.42 | -61.46 | 0 | 0.00 | 0 | 0.00 | 0 |
| 2016 (3) | 5.73 | 11.7 | 1.41 | -33.8 | 2.11 | 61.81 | 1.28 | 24.27 | 1.05 | 1.94 | 6.23 | -28.23 | 2.50 | -8.76 | 1.77 | -15.71 | 3.83 | 43.98 | 204.14 | -23.69 | 110.20 | -46.64 | -10.20 | 0 | 0.00 | 0 | 0.00 | 0 |
| 2015 (2) | 5.13 | 23.91 | 2.13 | 70.4 | 1.30 | -12.57 | 1.03 | 27.16 | 1.03 | 47.14 | 8.68 | 28.02 | 2.74 | 26.85 | 2.10 | -9.09 | 2.66 | 3.5 | 267.50 | -19.84 | 206.50 | 32.78 | -106.50 | 0 | 0.00 | 0 | 0.00 | 0 |
| 2014 (1) | 4.14 | 0 | 1.25 | 0 | 1.49 | -23.53 | 0.81 | 0 | 0.70 | 0 | 6.78 | 0 | 2.16 | 0 | 2.31 | 16.08 | 2.57 | 8.9 | 333.71 | 12.48 | 155.53 | -61.66 | -55.53 | 0 | 0.00 | 0 | 0.00 | 0 |
