- 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) | 15.26 | 18.85 | 11.55 | 4.81 | -12.55 | 243.15 | 5.73 | -11.02 | 593.97 | 4.97 | -4.79 | 1074.51 | 2.83 | -8.71 | 1110.71 | 1.65 | -11.76 | 1070.59 | 0.33 | -8.33 | -5.71 | 6.69 | -11.16 | 1927.27 | 73.38 | 2.87 | 22.34 | 84.21 | -1.75 | -66.32 | 15.79 | 10.53 | 109.02 | 18.60 | -18.64 | -24.21 |
| 23Q3 (19) | 12.84 | -14.68 | -20.05 | 5.50 | -16.41 | -24.97 | 6.44 | -25.46 | -21.37 | 5.22 | -26.58 | -23.01 | 3.10 | -16.44 | -15.53 | 1.87 | -14.22 | -15.77 | 0.36 | 16.13 | 9.09 | 7.53 | -24.17 | -23.4 | 71.33 | 16.44 | 30.28 | 85.71 | 8.27 | -6.49 | 14.29 | -42.86 | 14.29 | 22.86 | -20.07 | -8.56 |
| 23Q2 (18) | 15.05 | 19.26 | -1.05 | 6.58 | 12.29 | 6.82 | 8.64 | 39.58 | 17.07 | 7.11 | 39.41 | 17.33 | 3.71 | -1.59 | 16.3 | 2.18 | -2.24 | 21.11 | 0.31 | -27.91 | 6.9 | 9.93 | 42.26 | 11.2 | 61.26 | -24.1 | -21.73 | 79.17 | -13.95 | -7.64 | 25.00 | 525.0 | 31.25 | 28.60 | 54.51 | 15.98 |
| 23Q1 (17) | 12.62 | -7.75 | 10.99 | 5.86 | 274.4 | 15.35 | 6.19 | 633.62 | 13.58 | 5.10 | 1100.0 | 14.09 | 3.77 | 1446.43 | 7.71 | 2.23 | 1411.76 | 5.69 | 0.43 | 22.86 | -8.51 | 6.98 | 2015.15 | 9.23 | 80.71 | 34.56 | 1.95 | 92.00 | -63.2 | 0.36 | 4.00 | 102.29 | -52.0 | 18.51 | -24.57 | -5.03 |
| 22Q4 (16) | 13.68 | -14.82 | -6.11 | -3.36 | -145.84 | -173.68 | -1.16 | -114.16 | -124.32 | -0.51 | -107.52 | -111.7 | -0.28 | -107.63 | -112.39 | -0.17 | -107.66 | -111.64 | 0.35 | 6.06 | 6.06 | 0.33 | -96.64 | -94.87 | 59.98 | 9.55 | 8.64 | 250.00 | 172.73 | 150.0 | -175.00 | -1500.0 | -2375.0 | 24.54 | -1.84 | -6.16 |
| 22Q3 (15) | 16.06 | 5.59 | -15.12 | 7.33 | 18.99 | -13.25 | 8.19 | 10.98 | -5.1 | 6.78 | 11.88 | -7.12 | 3.67 | 15.05 | 3.09 | 2.22 | 23.33 | 0.0 | 0.33 | 13.79 | 10.0 | 9.83 | 10.08 | -8.47 | 54.75 | -30.05 | -4.3 | 91.67 | 6.94 | -8.33 | 12.50 | -34.37 | 0 | 25.00 | 1.38 | -13.61 |
| 22Q2 (14) | 15.21 | 33.77 | -1.55 | 6.16 | 21.26 | 10.2 | 7.38 | 35.41 | 3.65 | 6.06 | 35.57 | 3.24 | 3.19 | -8.86 | 10.0 | 1.80 | -14.69 | 15.38 | 0.29 | -38.3 | 11.54 | 8.93 | 39.75 | -4.49 | 78.27 | -1.14 | 19.39 | 85.71 | -6.49 | 7.14 | 19.05 | 128.57 | -4.76 | 24.66 | 26.53 | -11.49 |
| 22Q1 (13) | 11.37 | -21.96 | -1.64 | 5.08 | 11.4 | -16.17 | 5.45 | 14.26 | -10.21 | 4.47 | 2.52 | -8.4 | 3.50 | 54.87 | -21.7 | 2.11 | 44.52 | -8.26 | 0.47 | 42.42 | 0.0 | 6.39 | -0.62 | -9.1 | 79.17 | 43.4 | -29.46 | 91.67 | -8.33 | -8.33 | 8.33 | 8.33 | 0 | 19.49 | -25.47 | 17.48 |
| 21Q4 (12) | 14.57 | -22.99 | 19.92 | 4.56 | -46.04 | 0.0 | 4.77 | -44.73 | 3.92 | 4.36 | -40.27 | 15.65 | 2.26 | -36.52 | -17.22 | 1.46 | -34.23 | -10.98 | 0.33 | 10.0 | -23.26 | 6.43 | -40.13 | 10.86 | 55.21 | -3.5 | -28.96 | 100.00 | 0.0 | 0.0 | 7.69 | 0 | 0 | 26.15 | -9.64 | 27.56 |
| 21Q3 (11) | 18.92 | 22.46 | 12.62 | 8.45 | 51.16 | 37.62 | 8.63 | 21.21 | 26.91 | 7.30 | 24.36 | 20.46 | 3.56 | 22.76 | 32.34 | 2.22 | 42.31 | 30.59 | 0.30 | 15.38 | 11.11 | 10.74 | 14.87 | 21.36 | 57.21 | -12.74 | -5.72 | 100.00 | 25.0 | 7.14 | 0.00 | -100.0 | -100.0 | 28.94 | 3.88 | -11.44 |
| 21Q2 (10) | 15.45 | 33.65 | -12.96 | 5.59 | -7.76 | -18.16 | 7.12 | 17.3 | -22.36 | 5.87 | 20.29 | -33.07 | 2.90 | -35.12 | -12.91 | 1.56 | -32.17 | -22.77 | 0.26 | -44.68 | 13.04 | 9.35 | 33.0 | -19.12 | 65.56 | -41.59 | 4.73 | 80.00 | -20.0 | 2.86 | 20.00 | 0 | -28.0 | 27.86 | 67.93 | -17.33 |
| 21Q1 (9) | 11.56 | -4.86 | 9.26 | 6.06 | 32.89 | 22.42 | 6.07 | 32.24 | 7.62 | 4.88 | 29.44 | 2.31 | 4.47 | 63.74 | 16.71 | 2.30 | 40.24 | 2.68 | 0.47 | 9.3 | 2.17 | 7.03 | 21.21 | 0.0 | 112.24 | 44.42 | 57.46 | 100.00 | 0.0 | 14.29 | 0.00 | 0 | -100.0 | 16.59 | -19.07 | -7.83 |
| 20Q4 (8) | 12.15 | -27.68 | -11.7 | 4.56 | -25.73 | -8.43 | 4.59 | -32.5 | -6.33 | 3.77 | -37.79 | -24.14 | 2.73 | 1.49 | -5.21 | 1.64 | -3.53 | 5.13 | 0.43 | 59.26 | 48.28 | 5.80 | -34.46 | -24.08 | 77.72 | 28.08 | -4.78 | 100.00 | 7.14 | 0.0 | 0.00 | -100.0 | 0 | 20.50 | -37.27 | -20.79 |
| 20Q3 (7) | 16.80 | -5.35 | 2.69 | 6.14 | -10.1 | -7.39 | 6.80 | -25.85 | -7.23 | 6.06 | -30.9 | 1.17 | 2.69 | -19.22 | -41.27 | 1.70 | -15.84 | -6.08 | 0.27 | 17.39 | -6.9 | 8.85 | -23.44 | -14.33 | 60.68 | -3.07 | -47.13 | 93.33 | 20.0 | 3.7 | 6.67 | -76.0 | -33.33 | 32.68 | -3.03 | 5.25 |
| 20Q2 (6) | 17.75 | 67.77 | 49.92 | 6.83 | 37.98 | 49.13 | 9.17 | 62.59 | 67.34 | 8.77 | 83.86 | 96.2 | 3.33 | -13.05 | -62.24 | 2.02 | -9.82 | -41.28 | 0.23 | -50.0 | -68.49 | 11.56 | 64.44 | 51.71 | 62.60 | -12.18 | -49.08 | 77.78 | -11.11 | -7.17 | 27.78 | 122.22 | 71.3 | 33.70 | 87.22 | 61.94 |
| 20Q1 (5) | 10.58 | -23.11 | -14.54 | 4.95 | -0.6 | -8.33 | 5.64 | 15.1 | -1.05 | 4.77 | -4.02 | 1.92 | 3.83 | 32.99 | -27.87 | 2.24 | 43.59 | 19.79 | 0.46 | 58.62 | 24.32 | 7.03 | -7.98 | -12.67 | 71.28 | -12.67 | -57.52 | 87.50 | -12.5 | -7.35 | 12.50 | 0 | 125.0 | 18.00 | -30.45 | -19.54 |
| 19Q4 (4) | 13.76 | -15.89 | 0.0 | 4.98 | -24.89 | 0.0 | 4.90 | -33.15 | 0.0 | 4.97 | -17.03 | 0.0 | 2.88 | -37.12 | 0.0 | 1.56 | -13.81 | 0.0 | 0.29 | 0.0 | 0.0 | 7.64 | -26.04 | 0.0 | 81.62 | -28.88 | 0.0 | 100.00 | 11.11 | 0.0 | -0.00 | -100.0 | 0.0 | 25.88 | -16.65 | 0.0 |
| 19Q3 (3) | 16.36 | 38.18 | 0.0 | 6.63 | 44.76 | 0.0 | 7.33 | 33.76 | 0.0 | 5.99 | 34.0 | 0.0 | 4.58 | -48.07 | 0.0 | 1.81 | -47.38 | 0.0 | 0.29 | -60.27 | 0.0 | 10.33 | 35.56 | 0.0 | 114.77 | -6.65 | 0.0 | 90.00 | 7.42 | 0.0 | 10.00 | -38.33 | 0.0 | 31.05 | 49.21 | 0.0 |
| 19Q2 (2) | 11.84 | -4.36 | 0.0 | 4.58 | -15.19 | 0.0 | 5.48 | -3.86 | 0.0 | 4.47 | -4.49 | 0.0 | 8.82 | 66.1 | 0.0 | 3.44 | 83.96 | 0.0 | 0.73 | 97.3 | 0.0 | 7.62 | -5.34 | 0.0 | 122.95 | -26.72 | 0.0 | 83.78 | -11.29 | 0.0 | 16.22 | 191.89 | 0.0 | 20.81 | -6.97 | 0.0 |
| 19Q1 (1) | 12.38 | 0.0 | 0.0 | 5.40 | 0.0 | 0.0 | 5.70 | 0.0 | 0.0 | 4.68 | 0.0 | 0.0 | 5.31 | 0.0 | 0.0 | 1.87 | 0.0 | 0.0 | 0.37 | 0.0 | 0.0 | 8.05 | 0.0 | 0.0 | 167.78 | 0.0 | 0.0 | 94.44 | 0.0 | 0.0 | 5.56 | 0.0 | 0.0 | 22.37 | 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) | 13.83 | 0.36 | 5.66 | 46.25 | 1.04 | -7.57 | 6.65 | 34.07 | 5.52 | 32.06 | 13.05 | 29.21 | 7.84 | 21.36 | 1.42 | -7.19 | 7.74 | 24.04 | 73.38 | 22.34 | 85.39 | 10.51 | 14.61 | -31.14 | 0.10 | -12.45 | 21.72 | -5.61 |
| 2022 (9) | 13.78 | -5.03 | 3.87 | -36.87 | 1.13 | -6.53 | 4.96 | -24.16 | 4.18 | -23.58 | 10.10 | -24.85 | 6.46 | -20.83 | 1.53 | 3.38 | 6.24 | -24.09 | 59.98 | 8.64 | 77.27 | -17.0 | 21.21 | 269.09 | 0.11 | -4.06 | 23.01 | -2.0 |
| 2021 (8) | 14.51 | 8.61 | 6.13 | 14.58 | 1.21 | 6.1 | 6.54 | 7.21 | 5.47 | 2.24 | 13.44 | 7.52 | 8.16 | 14.93 | 1.48 | 13.85 | 8.22 | 5.38 | 55.21 | -28.96 | 93.10 | 5.8 | 5.75 | -52.11 | 0.12 | -84.13 | 23.48 | -2.21 |
| 2020 (7) | 13.36 | 0.68 | 5.35 | 4.49 | 1.14 | -36.52 | 6.10 | 5.9 | 5.35 | 8.74 | 12.50 | -17.38 | 7.10 | 5.5 | 1.30 | 0.0 | 7.80 | -5.11 | 77.72 | -4.78 | 88.00 | -0.83 | 12.00 | 6.5 | 0.74 | -29.78 | 24.01 | -0.79 |
| 2019 (6) | 13.27 | 7.36 | 5.12 | 6.67 | 1.79 | 172.54 | 5.76 | 14.97 | 4.92 | 32.97 | 15.13 | -8.8 | 6.73 | 25.56 | 1.30 | -2.26 | 8.22 | 28.24 | 81.62 | -66.04 | 88.73 | -6.68 | 11.27 | 243.66 | 1.06 | 42.1 | 24.20 | 8.72 |
| 2018 (5) | 12.36 | 3.09 | 4.80 | 8.11 | 0.66 | -17.83 | 5.01 | 7.05 | 3.70 | -9.76 | 16.59 | -4.44 | 5.36 | -5.13 | 1.33 | 5.56 | 6.41 | 1.58 | 240.33 | 2.71 | 95.08 | 0.79 | 3.28 | -42.08 | 0.74 | 0 | 22.26 | -10.78 |
| 2017 (4) | 11.99 | 12.48 | 4.44 | 0.45 | 0.80 | 7.47 | 4.68 | 2.18 | 4.10 | 8.47 | 17.36 | -0.12 | 5.65 | -12.94 | 1.26 | -23.17 | 6.31 | 8.98 | 233.98 | -2.02 | 94.34 | -2.1 | 5.66 | 55.66 | 0.00 | 0 | 24.95 | 20.01 |
| 2016 (3) | 10.66 | -29.12 | 4.42 | -12.48 | 0.74 | -32.51 | 4.58 | -23.15 | 3.78 | -26.46 | 17.38 | 0 | 6.49 | 0 | 1.64 | 0 | 5.79 | -23.82 | 238.80 | 96.64 | 96.36 | 15.17 | 3.64 | -74.55 | 0.00 | 0 | 20.79 | -34.13 |
| 2015 (2) | 15.04 | 0 | 5.05 | 0 | 1.10 | 0 | 5.96 | 0 | 5.14 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 7.60 | 0 | 121.44 | 0 | 83.67 | 0 | 14.29 | 0 | 0.00 | 0 | 31.56 | 0 |
