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)27.70-6.83-12.623.86-49.67-56.631.99-75.76-72.41.42-77.88-75.30.50-81.27-81.060.42-71.23-69.780.18-10.0-21.744.82-53.56-47.1588.34-12.44-9.9180.0089.051.2-80.00-1780.0-236.024.31-2.7612.7
23Q3 (19)29.732.34-2.177.6793.691.868.2166.53-30.666.42103.81-32.212.67128.21-35.191.46111.59-30.140.2011.11-4.7610.3842.19-24.73100.89-4.34-7.9295.2416.447.624.76-73.81-86.5825.00-6.89-1.07
23Q2 (18)29.05-0.65-6.413.96-40.81-61.854.93-27.07-57.173.15-41.77-61.211.17-45.83-69.290.69-42.02-66.340.18-10.0-25.07.30-15.7-43.63105.4710.055.0381.82-18.18-9.7218.18093.9426.857.2319.44
23Q1 (17)29.24-7.767.786.69-24.8332.486.76-6.24-3.575.41-5.91-3.572.16-18.18-7.691.19-14.39-9.850.20-13.04-13.048.66-5.04-2.8195.84-2.2515.32100.00-16.041.670.00100.0-100.025.0416.092.04
22Q4 (16)31.704.3138.798.9018.19114.467.21-39.130.385.75-39.285.52.64-35.92-7.041.39-33.49-12.580.239.52-17.869.12-33.8733.7298.05-10.5113.16119.0584.5255.68-23.81-167.1-201.1921.57-14.6411.82
22Q3 (15)30.39-2.093.127.53-27.46100.811.842.87122.149.4716.63245.624.128.14343.012.091.95266.670.21-12.510.5313.796.4985.6109.579.1130.3964.52-28.81-11.2935.48278.4930.1125.2712.41-13.1
22Q2 (14)31.0414.418.2710.38105.54160.1511.5164.19213.628.1244.74178.083.8162.82277.232.0555.3225.40.244.3520.012.9545.34122.13100.4220.8326.5290.6228.39-9.389.38-68.12175.022.48-8.39-16.28
22Q1 (13)27.1318.780.05.0521.6920.537.0126.7665.335.612.9465.982.34-17.6188.711.32-16.9873.680.23-17.869.528.9130.6547.2783.11-4.0912.5770.59-7.69-29.4129.4125.0024.5427.22-4.14
21Q4 (12)22.84-22.5-17.224.1510.67-23.295.533.750.185.4598.9124.712.84205.3870.061.59178.9555.880.2847.3727.276.82-8.21-5.4186.653.1216.3976.475.15-23.5323.53-13.73019.29-33.67-19.63
21Q3 (11)29.472.7914.093.75-6.0264.475.3345.23171.942.74-6.1674.520.93-7.9272.220.57-9.5250.00.19-5.0-5.07.4327.4483.9184.035.8717.5972.73-27.27-41.8227.27318.18209.0929.088.3117.4
21Q2 (10)28.675.6811.693.99-4.77-6.783.67-13.44-19.872.92-13.61-18.211.01-18.55-21.710.63-17.11-22.220.20-4.76-4.765.83-3.64-6.2779.377.51.28100.000.011.11-12.500-225.026.854.880
21Q1 (9)27.13-1.675.24.19-22.55-1.184.24-23.19-5.783.38-22.65-6.111.24-25.75-1.590.76-25.49-7.320.21-4.550.06.05-16.09-5.4773.83-0.8314.06100.000.00.00.000-100.025.606.677.34
20Q4 (8)27.596.812.955.41137.285.665.52181.6326.94.37178.3426.671.67209.2639.171.02168.4229.110.2210.04.767.2178.4720.7774.454.1817.71100.00-20.0-10.00.00100.0100.024.00-3.111.61
20Q3 (7)25.830.624.22.28-46.73-58.921.96-57.21-65.731.57-56.02-64.880.54-58.14-68.790.38-53.09-65.770.20-4.76-16.674.04-35.05-44.4371.46-8.824.89125.0038.8935.42-25.00-350.0024.77018.74
20Q2 (6)25.67-0.4720.524.280.94115.084.581.7861.843.57-0.83133.331.292.38134.550.81-1.22102.50.210.0-8.76.22-2.8142.9978.3721.0730.5990.00-10.035.010.00-10.0-70.00.00-100.0-100.0
20Q1 (5)25.79-3.7710.264.24-17.19-10.924.503.45-13.133.604.35-13.041.265.0-11.890.823.8-16.330.210.0-4.556.407.2-1.5464.732.3411.05100.00-10.00.011.11150.011.1123.850.9714.83
19Q4 (4)26.808.110.05.12-7.750.04.35-23.950.03.45-22.820.01.20-30.640.00.79-28.830.00.21-12.50.05.97-17.880.063.25-7.160.0111.1120.370.0-22.2200.023.6213.230.0
19Q3 (3)24.7916.380.05.55178.890.05.72102.120.04.47192.160.01.73214.550.01.11177.50.00.244.350.07.2767.130.068.1313.530.092.3138.460.00.00-100.00.020.860.10.0
19Q2 (2)21.30-8.940.01.99-58.190.02.83-45.370.01.53-63.040.00.55-61.540.00.40-59.180.00.234.550.04.35-33.080.060.012.950.066.67-33.330.033.33233.330.020.840.340.0
19Q1 (1)23.390.00.04.760.00.05.180.00.04.140.00.01.430.00.00.980.00.00.220.00.06.500.00.058.290.00.0100.000.00.010.000.00.020.770.00.0
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)28.97-3.955.64-30.021.4418.535.59-40.64.21-41.856.40-49.693.83-44.490.79-13.198.01-27.8488.34-9.9100.0017.440.0000.16103.4325.298.12
2022 (9)30.1613.558.0699.51.21-13.069.4196.867.2489.5312.72109.96.9092.740.913.4111.1069.4798.0513.1685.150.8313.86-10.890.08023.39-4.73
2021 (8)26.56-0.084.04-2.651.394.114.7812.743.8213.696.0627.853.5817.760.884.766.559.7286.6516.3984.44-13.0715.56444.440.00024.550.49
2020 (7)26.585.354.15-9.191.3417.614.24-10.743.36-5.884.74-2.673.04-9.250.84-3.455.97-5.6974.4517.7197.142.542.868.570.00024.438.34
2019 (6)25.2313.294.57134.361.1435.194.75112.053.5770.04.8790.983.3578.190.877.416.3387.8363.2529.5694.748.272.63-78.950.00022.555.03
2018 (5)22.271.781.9513.370.84-14.412.2428.02.1061.542.5562.421.8852.850.813.853.379.0648.82-9.2287.50-12.512.5000.00021.47-0.51
2017 (4)21.882.431.7259.260.982.531.75-0.571.30-23.081.57-24.881.23-20.650.78-1.273.092.3253.78-1.21100.0062.50.0000.00021.586.2
2016 (3)21.364.141.081442.860.96-21.481.7687.231.69128.382.09124.731.5547.620.79-1.253.025.9654.44-10.1161.54330.7738.46-55.130.00020.323.83
2015 (2)20.5117.60.0701.22-22.250.9400.7400.9301.0500.80-10.112.85060.5610.2114.29-88.185.7100.00019.573.99
2014 (1)17.440-2.3201.5717.69-1.980-2.020-2.600-1.4800.89-21.930.00054.9568.87120.000-20.0000.00018.8219.49

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