- 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) | 15.60 | -14.52 | -29.73 | 7.00 | -46.32 | -39.55 | 12.66 | -41.42 | 11.94 | 10.13 | -45.27 | 14.33 | 3.04 | -76.74 | -57.0 | 1.64 | -72.34 | -44.41 | 0.15 | -51.61 | -51.61 | 17.36 | -26.57 | 29.26 | 110.95 | 8.21 | -40.68 | 55.48 | -8.18 | -45.61 | 45.16 | 13.61 | 1974.19 | 8.69 | 120.0 | 117.79 |
| 23Q3 (19) | 18.25 | -13.51 | -25.48 | 13.04 | -17.78 | -13.7 | 21.61 | 9.58 | 40.6 | 18.51 | 14.83 | 53.61 | 13.07 | 32.29 | 27.51 | 5.93 | 40.19 | 22.27 | 0.31 | 24.0 | -20.51 | 23.64 | 6.1 | 37.52 | 102.53 | -34.15 | -13.35 | 60.43 | -24.84 | -38.64 | 39.75 | 102.83 | 2079.65 | 3.95 | 4.77 | 20.8 |
| 23Q2 (18) | 21.10 | -12.92 | -15.94 | 15.86 | 71.27 | 3.39 | 19.72 | 84.13 | 3300.0 | 16.12 | 76.17 | 675.71 | 9.88 | 251.6 | 790.91 | 4.23 | 238.4 | 898.11 | 0.25 | 108.33 | 4.17 | 22.28 | 41.37 | 507.08 | 155.70 | 19.66 | 32.38 | 80.40 | -6.66 | -97.01 | 19.60 | 41.39 | 100.76 | 3.77 | -49.6 | -12.33 |
| 23Q1 (17) | 24.23 | 9.14 | -19.02 | 9.26 | -20.03 | -38.06 | 10.71 | -5.31 | 9.51 | 9.15 | 3.27 | 27.44 | 2.81 | -60.25 | 27.15 | 1.25 | -57.63 | 6.84 | 0.12 | -61.29 | -20.0 | 15.76 | 17.35 | 9.6 | 130.12 | -30.44 | 24.08 | 86.14 | -15.56 | -43.62 | 13.86 | 675.25 | 126.26 | 7.48 | 87.47 | -2.35 |
| 22Q4 (16) | 22.20 | -9.35 | -10.7 | 11.58 | -23.36 | -38.73 | 11.31 | -26.42 | -30.36 | 8.86 | -26.47 | -40.62 | 7.07 | -31.02 | -41.18 | 2.95 | -39.18 | -53.32 | 0.31 | -20.51 | -24.39 | 13.43 | -21.87 | -25.22 | 187.05 | 58.09 | 61.78 | 102.01 | 3.58 | -12.35 | -2.41 | -232.13 | 85.29 | 3.99 | 22.02 | 21.28 |
| 22Q3 (15) | 24.49 | -2.43 | -2.86 | 15.11 | -1.5 | 130.89 | 15.37 | 2550.0 | 116.7 | 12.05 | 530.36 | 114.01 | 10.25 | 816.78 | 229.75 | 4.85 | 1015.09 | 213.85 | 0.39 | 62.5 | 680.0 | 17.19 | 368.39 | 123.87 | 118.32 | 0.6 | 69.83 | 98.48 | -96.33 | 85.71 | 1.82 | 100.07 | -96.12 | 3.27 | -23.95 | -90.03 |
| 22Q2 (14) | 25.10 | -16.11 | -3.13 | 15.34 | 2.61 | 187.11 | 0.58 | -94.07 | -98.62 | -2.80 | -139.0 | -106.88 | -1.43 | -164.71 | -124.4 | -0.53 | -145.3 | -114.32 | 0.24 | 60.0 | 200.0 | 3.67 | -74.48 | -94.47 | 117.62 | 12.16 | 85.55 | 2685.71 | 1657.92 | 6487.64 | -2585.71 | -4799.25 | -1935.02 | 4.30 | -43.86 | -84.55 |
| 22Q1 (13) | 29.92 | 20.35 | 0 | 14.95 | -20.9 | 0 | 9.78 | -39.78 | 0 | 7.18 | -51.88 | 0 | 2.21 | -81.61 | 0 | 1.17 | -81.49 | 0 | 0.15 | -63.41 | 0 | 14.38 | -19.93 | 0 | 104.87 | -9.3 | 0 | 152.78 | 31.27 | 0 | -52.78 | -222.16 | 0 | 7.66 | 132.83 | 0 |
| 21Q4 (12) | 24.86 | -1.39 | -27.54 | 18.90 | 138.63 | 138.83 | 16.24 | 117.64 | -91.76 | 14.92 | 117.35 | -91.61 | 12.02 | 252.15 | -30.48 | 6.32 | 248.36 | -32.69 | 0.41 | 720.0 | 720.0 | 17.96 | 124.93 | -92.62 | 115.62 | 65.95 | 22.34 | 116.38 | 119.46 | 568.17 | -16.38 | -134.88 | -113.12 | 3.29 | -89.97 | -93.24 |
| 21Q3 (11) | 25.21 | -2.7 | 0 | -48.92 | -177.8 | 0 | -92.04 | -318.26 | 0 | -86.01 | -311.33 | 0 | -7.90 | -234.81 | 0 | -4.26 | -215.14 | 0 | 0.05 | -37.5 | 0 | -72.03 | -208.56 | 0 | 69.67 | 9.91 | 0 | 53.03 | 226.13 | 0 | 46.97 | -66.67 | 0 | 32.81 | 17.89 | 0 |
| 21Q2 (10) | 25.91 | 0 | -52.05 | -17.61 | 0 | -153.74 | 42.17 | 0 | 33.03 | 40.70 | 0 | 118.7 | 5.86 | 0 | 113.87 | 3.70 | 0 | 100.0 | 0.08 | 0 | 0.0 | 66.35 | 0 | 3.79 | 63.39 | 0 | -36.48 | -42.05 | 0 | -140.99 | 140.91 | 0 | 5595.45 | 27.83 | 0 | 90.49 |
| 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) | 19.45 | -20.42 | 12.26 | -11.8 | 2.06 | 15.07 | 17.92 | 71.98 | 14.98 | 100.27 | 28.97 | 61.3 | 12.60 | 66.89 | 0.80 | -14.89 | 21.01 | 62.49 | 110.95 | -40.68 | 68.48 | -48.64 | 31.60 | 0 | 0.89 | 114.59 | 5.25 | 23.82 |
| 2022 (9) | 24.44 | -2.16 | 13.90 | 27.87 | 1.79 | -54.53 | 10.42 | -9.71 | 7.48 | -30.09 | 17.96 | 33.14 | 7.55 | 8.01 | 0.94 | 56.67 | 12.93 | -22.39 | 187.05 | 61.78 | 133.33 | 41.88 | -33.33 | 0 | 0.41 | -23.86 | 4.24 | -44.36 |
| 2021 (8) | 24.98 | -45.29 | 10.87 | 0 | 3.94 | -86.79 | 11.54 | -88.68 | 10.70 | -87.59 | 13.49 | -31.7 | 6.99 | -36.91 | 0.60 | 400.0 | 16.66 | -88.16 | 115.62 | 22.34 | 93.98 | 0 | 6.02 | -94.06 | 0.54 | 117.86 | 7.62 | -73.8 |
| 2020 (7) | 45.66 | -0.22 | -1.80 | 0 | 29.86 | -13.85 | 101.94 | 727.44 | 86.20 | 717.84 | 19.75 | 789.64 | 11.08 | 451.24 | 0.12 | 9.09 | 140.76 | 150.24 | 94.51 | 5.28 | -1.85 | 0 | 101.39 | 48.7 | 0.25 | 0 | 29.08 | 13.64 |
| 2019 (6) | 45.76 | -13.17 | 3.65 | -58.09 | 34.66 | 1.55 | 12.32 | -78.52 | 10.54 | -81.12 | 2.22 | 0 | 2.01 | 0 | 0.11 | 0 | 56.25 | -47.52 | 89.77 | 12.13 | 27.27 | 74.55 | 68.18 | -19.19 | 0.00 | 0 | 25.59 | 27.44 |
| 2018 (5) | 52.70 | 0 | 8.71 | 0 | 34.13 | 0 | 57.36 | 0 | 55.82 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 107.19 | 0 | 80.06 | 0 | 15.62 | 0 | 84.38 | 0 | 0.00 | 0 | 20.08 | 0 |
