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
23Q3 (20)-40.75-415.89-17.6563.06731.45535.772689.233798.561328.32689.233798.561328.3512.51436.91228.189.77422.46226.060.00-100.0-100.02566.672980.131320.2527.35-12.480.2920.55-77.74-64.4679.45095.57208.83299.83659.93
23Q2 (19)12.9034.890.5567.72133.77142.4368.98-81.31144.2268.98-81.26144.122.33-64.1127.121.87-62.22126.750.03200.0-40.083.33-78.57156.4931.25-0.6739.792.31274.36-9.160.00-100.0100.052.23-46.12-1.12
23Q1 (18)9.57-3.14-16.85-200.5244.91-655.82368.99141.262301.61368.12141.32197.556.49133.38645.384.95133.63632.260.01-50.0-83.33388.89143.613406.8931.46-14.0249.17-52.94-229.95-134.03152.94158.09375.2996.9488.6431.76
22Q4 (17)9.88128.51-73.41-363.99-181.7-1346.54-894.24-308.44-3710.17-891.31-307.12-3414.65-19.44-99.18-381.33-14.72-89.94-363.330.02-50.0-90.48-891.67-323.92-3557.4336.5934.1873.9140.74-29.53-65.4659.2645.87430.1651.4087.05905.87
22Q3 (16)-34.65-611.82-415.86-129.2119.05-382.49-218.94-40.36-693.55-218.93-40.03-630.74-9.76-13.62-160.27-7.75-10.87-168.170.04-20.0-60.0-210.34-42.6-714.9627.2721.9-8.2757.81-43.11-42.1940.622618.75590.6227.48-47.9781.99
22Q2 (15)6.77-41.18-65.39-159.61-501.62-4722.05-155.98-830.67-719.21-156.34-790.83-836.06-8.59-621.85-497.69-6.99-651.61-488.330.05-16.67-37.5-147.50-1154.25-611.2722.376.07-7.41101.61-34.68760.48-1.6197.1-101.452.82189.74300.45
22Q1 (14)11.51-69.02-23.32-26.53-190.86-7269.44-16.76-167.66-296.48-17.55-165.27-304.78-1.19-117.22-203.48-0.93-116.64-197.890.06-71.43-45.45-11.76-145.6-201.4721.090.24-15.57155.5631.880-55.56-209.52-155.5618.23256.7564.09
21Q4 (13)37.15238.65418.1329.20209.041524.3924.77189.7810008.026.89189.752789.06.91284.272403.335.59293.433388.240.21110.0-12.525.79199.924198.3321.04-29.23-25.5117.9517.950-17.95-405.1305.11-66.1627.11
21Q3 (12)10.97-43.9239.75-26.78-709.06-15652.94-27.59-209.53-603.83-29.96-241.05-701.07-3.75-273.61-275.0-2.89-260.56-256.790.1025.0-56.52-25.81-189.46-802.4529.7323.0544.74100.00750.005.88-94.9-94.1215.1014.48173.55
21Q2 (11)19.5630.31281.29-3.31-819.4443.825.19195.31107.521.24147.84107.832.1687.8312.51.8089.475.260.08-27.27-50.028.85148.92122.9524.16-3.2855.37-15.38069.23115.3815.38-23.0813.1918.720
21Q1 (10)15.01109.34929.28-0.3682.4499.398.533512.0105.88.57957.0105.771.15483.33118.580.95658.82117.270.11-54.17175.011.591831.67107.8624.98-11.54102.920.000-100.0100.00064.7111.11176.370
20Q4 (9)7.17-8.66261.49-2.05-1105.8898.33-0.2593.6299.83-1.0073.2699.36-0.3070.094.51-0.1779.0196.50.244.35700.00.60120.98100.4128.2437.49146.850.000-100.00.00-100.0-100.04.02-27.170
20Q3 (8)7.8553.02-47.94-0.1797.1199.2-3.92-132.29-121.26-3.74-136.59-121.79-1.00-152.08-181.3-0.81-147.37-174.310.2343.75360.0-2.86-122.1-107.9220.5432.0969.89-0.00100.0100.0100.00-33.33-50.05.520-77.4
20Q2 (7)5.13383.43-57.0-5.8990.0677.4812.14108.25141.1510.22106.88130.771.92131.02179.341.71131.09218.750.16300.0220.012.94108.78259.5615.5526.32-67.47-50.00-227.27-155.0150.00147.061550.00.000-100.0
20Q1 (6)-1.8159.23-110.79-59.2351.65-136.07-147.142.31-15069.07-148.555.36-64686.96-6.19-13.37-62000.0-5.50-13.17-3537.50.0433.330.0-147.37-0.21-670.9812.317.6-73.4639.29-51.36060.71215.7100.000-100.0
19Q4 (5)-4.44-129.44-128.3-122.49-475.34-1396.19-150.62-916.81-7944.79-156.97-1014.74-4929.85-5.46-543.9-1431.71-4.86-545.87-1285.370.03-40.0-62.5-147.06-507.26-1195.0111.44-5.38-76.9880.77170.67-86.5419.23-90.38103.850.00-100.0-100.0
19Q3 (4)15.0826.40.0-21.2918.620.018.44162.510.017.16151.670.01.23150.830.01.09175.690.00.050.00.036.11545.250.012.09-74.710.0-114.29-225.710.0200.002100.00.024.4227.520.0
19Q2 (3)11.93-28.90.0-26.16-4.260.0-29.50-2941.240.0-33.21-14539.130.0-2.42-24300.00.0-1.44-1000.00.00.0525.00.0-8.11-131.420.047.803.060.090.9100.09.0900.019.15-24.280.0
19Q1 (2)16.786.950.0-25.09-365.50.0-0.97-150.520.00.23-92.920.00.01-97.560.00.16-60.980.00.04-50.00.025.8192.180.046.38-6.660.00.00-100.00.00.00100.00.025.29116.340.0
18Q4 (1)15.690.00.09.450.00.01.920.00.03.250.00.00.410.00.00.410.00.00.080.00.013.430.00.049.690.00.0600.000.00.0-500.000.00.011.690.00.0
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
2022 (10)-0.200-120.0403.03107.88-183.520-183.660-38.660-30.1100.17-60.47-175.76036.5973.9165.70-3.7934.711.650.00033.70259.66
2021 (9)25.23284.68.0701.4699.7112.02011.9806.4605.4000.43-37.6813.99021.04-25.568.29-18.0534.15104.882.7409.3737.59
2020 (8)6.56-44.45-4.8800.73-94.76-5.840-6.550-5.400-4.3300.69283.33-4.87028.24146.8583.33-45.6516.6700.0006.81-71.3
2019 (7)11.81-39.25-37.97013.9367.85-25.020-27.120-6.560-4.4100.18-47.06-4.92011.44-76.98153.330-53.3300.00023.7385.54
2018 (6)19.44249.01-1.4208.30-33.585.3205.1703.3302.4000.3425.9317.36049.69-68.19-28.570128.57119.436.73012.79-23.5
2017 (5)5.577.12-24.08012.5029.17-57.440-58.870-36.190-15.1700.2717.39-38.390156.2252.3742.1987.558.59-24.210.00016.72-34.2
2016 (4)5.200-54.1309.6813.9-239.850-238.190-84.020-54.7900.23-17.86-225.350102.53314.4322.50-73.8177.31463.530.00025.4111.84
2015 (3)-11.110-77.7408.50180.92-90.230-84.830-29.330-23.5300.28-41.67-80.39024.749.1885.928.213.72-33.370.00022.7223.21
2014 (2)1.72-82.71-20.4003.02-28.57-25.750-26.630-16.680-12.5000.4833.33-22.12022.66-47.979.410.0620.59-0.230.00018.44-2.59
2013 (1)9.950-16.4004.230-20.590-21.500-10.380-7.2900.360-14.66043.49079.37020.6300.00018.930

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