玩股撇步(動畫小學堂)  

  • 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,營業利益率,稅前淨利率,股東權益報酬率-近20季
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 YoYEBITDA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)44.612.74-4.4835.319.3924.469.72-79.316.6910.06-78.59-1.761.36-80.76-13.920.56-70.21-15.150.030.00.033.33-53.34-2.43337.77-6.64-12.53370.00439.5810.35-270.00-959.09-14.7512.361.31-37.8
23Q3 (19)43.42-10.62-0.0732.28-2.86-11.9746.96825.81207.1346.98841.01220.257.07994.94145.491.884800.0111.240.030.0-25.071.43397.4284.19361.782.07-9.9468.57113.71-71.8131.43-94.76122.3612.20-16.9512.34
23Q2 (18)48.58-2.4533.1333.23-2.7222.12-6.47-138.74-6570.0-6.34-137.65-589.13-0.79-139.3-464.29-0.04-104.6-120.00.030.00.014.36-72.91-31.52354.44-0.56-15.51-500.00-345.610600.00679.31014.69-10.218.57
23Q1 (17)49.806.6437.9934.1620.4152.516.70100.48-61.1416.8464.45-59.092.0127.22-72.760.8731.82-47.90.030.00.053.0155.18-16.59356.45-7.7-16.42203.57-39.29290.18-103.5755.98-316.5616.36-17.6625.75
22Q4 (16)46.707.4894.3428.37-22.6372.578.33-45.52-85.2910.24-30.2-81.791.58-45.14-90.920.66-25.84-79.310.03-25.0-40.034.16-11.91-51.79386.17-3.87-12.74335.2937.841067.08-235.29-67.42-432.7219.8782.9787.63
22Q3 (15)43.4519.0730.8336.6734.7741.0415.2915190.0376.9914.671694.57304.62.882157.14261.80.89345.04350.00.0433.330.038.7884.93202.26401.73-4.24-30.58243.240149.47-140.540-123.7510.86-19.737.52
22Q2 (14)36.491.114.2627.2121.4713.190.10-99.77-98.86-0.92-102.24-112.2-0.14-101.9-110.070.20-88.02-58.330.030.00.020.97-67.0-34.26419.50-1.64-23.00.00-100.0-100.00.00-100.0100.013.534.0-0.81
22Q1 (13)36.0950.1918.7222.4036.2512.042.97-24.12113.6741.16-26.81130.077.38-57.5991.691.67-47.6589.770.03-40.00.063.55-10.336.55426.48-3.63-30.4452.1781.61-47.8347.83-32.37013.0122.85-6.54
21Q4 (12)24.03-27.64-25.316.44-36.77-25.7156.631125.91218.556.24884.38266.6217.401077.53388.763.1915850.0284.340.0525.066.6770.85452.2267.73442.55-23.53-28.7628.73105.84-76.8670.72-88.05392.9810.594.85-22.98
21Q3 (11)33.21-5.1122.3726.008.1558.54-5.52-162.94-138.96-7.17-195.09-115.32-1.78-228.06-394.440.02-95.83-86.670.0433.3333.3312.83-59.78-23.54578.706.22-6.45-491.67-276.535.87591.67431.33-34.2610.10-25.95-31.34
21Q2 (10)35.0015.1325.9924.0420.268.78.77-56.39114.597.54-57.85112.141.39-63.9115.260.48-45.45150.00.030.050.031.90-31.46215.04544.82-11.14-10.39278.57178.571263.45-178.570-244.0713.64-2.010
21Q1 (9)30.40-5.540.0320.00-9.6298.2220.1113.11696.0317.8916.62630.863.858.152666.670.886.02225.930.030.00.046.5410.18113.78613.14-1.38.7100.00-19.44113.330.00100.0-100.013.921.240
20Q4 (8)32.1718.5320.9422.1334.9483.3517.78869.7-4.6615.34560.66-14.683.561088.89-21.060.83453.33-21.70.030.0-25.042.24151.7312.46621.240.4312.81124.14116.1991.38-24.14-102.68-168.713.75-6.5334.15
20Q3 (7)27.14-2.3-0.0416.4015.09-4.71-2.3196.1692.56-3.3394.6489.98-0.3696.0594.380.15115.62122.730.0350.00.016.78160.51282.39618.591.7517.01-766.67-3101.96-1296.43900.00626.14481.0114.71011.69
20Q2 (6)27.7827.969.9314.2541.23-16.23-60.12-4671.43-400.58-62.09-1742.43-521.52-9.11-5973.33-239.93-0.96-455.5600.02-33.33-33.33-27.73-227.38-333.03607.967.789.27-23.9496.8183.49123.94-85.42-49.410.000-100.0
20Q1 (5)21.71-18.38-15.6610.09-16.4-13.09-1.26-106.76-105.09-3.37-118.74-115.42-0.15-103.33-102.660.27-74.53-78.40.03-25.00.021.77-42.04-53.84564.052.42-1.07-750.00-1256.25-1750.0850.002319.231526.090.00-100.0-100.0
19Q4 (4)26.60-2.030.012.07-29.870.018.65160.10.017.98154.090.04.51170.470.01.06260.610.00.0433.330.037.56508.260.0550.704.170.064.86218.150.035.14-77.320.010.25-22.170.0
19Q3 (3)27.157.440.017.211.180.0-31.03-158.370.0-33.24-232.730.0-6.40-138.810.0-0.6600.00.030.00.0-9.20-177.310.0528.68-4.980.0-54.9062.140.0154.90-36.770.013.171.780.0
19Q2 (2)25.27-1.830.017.0146.510.0-12.01-148.540.0-9.99-145.720.0-2.68-147.60.00.00-100.00.00.030.00.011.90-74.770.0556.38-2.420.0-145.00-419.00.0245.00368.70.012.94-13.850.0
19Q1 (1)25.740.00.011.610.00.024.740.00.021.850.00.05.630.00.01.250.00.00.030.00.047.160.00.0570.160.00.045.450.00.052.270.00.015.020.00.0
營業毛利率,營業利益率,稅前淨利率,股東權益報酬率-近10年
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 YoYEBITDA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)46.2913.3733.7216.2412.5520.9218.124.8618.288.369.70-14.613.28-3.240.12-7.6944.0510.18337.77-12.53186.5210.7-86.5200.00013.71-3.04
2022 (9)40.8337.7129.0138.0810.3830.3917.28-30.2116.87-28.3711.36-45.933.39-26.460.13-7.1439.98-8.78386.17-12.74168.4999.04-67.8100.00014.1421.37
2021 (8)29.658.6521.0131.817.96-11.2124.76023.55021.0104.611296.970.1440.043.83171.06442.55-28.7684.65015.35-94.70.00011.65-26.82
2020 (7)27.294.215.9411.318.9626.2-8.410-10.320-5.8700.33-80.00.10-28.5716.17-30.15621.2412.81-189.580289.5800.00015.9224.76
2019 (6)26.19014.3207.1045.661.3400.4100.9401.6500.14-41.6723.150550.70-1.91122.223177.78-1011.1100.00012.7629.41
2018 (5)-1.240-17.9404.88-11.17-52.280-54.150-105.830-11.4600.24-11.11-39.890561.35-47.534.24105.4265.59-21.70.0009.86-40.06
2017 (4)9.89-0.5-3.2505.49-6.03-19.590-25.660-39.540-4.1400.278.0-6.7801069.21153.3716.67103.3383.77-8.750.00016.45-20.49
2016 (3)9.94595.1-1.3405.84-1.52-15.990-21.120-21.030-2.6500.25-7.41-1.390422.0010.428.20-85.9991.80121.210.00020.6910.23
2015 (2)1.430-8.8705.937.88-15.200-15.620-18.940-2.6300.27-18.18-0.680382.1920.0258.50-46.2641.5000.00018.7759.2
2014 (1)-3.210-14.7505.501.65-13.590-13.660-17.890-2.7900.33-17.5-0.570318.4514.93108.8610.13-8.4400.00011.7929.28

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