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)25.92-7.66-3.8610.19-19.26-6.688.36-47.950.726.07-52.7312.411.23-62.278.850.98-63.0211.360.16-23.810.09.69-43.472.023.46-13.56-16.9122.9256.06-7.31-22.92-207.929.729.12-14.93-2.36
23Q3 (19)28.077.96-11.2812.6226.832.1916.0632.95-28.5912.8478.33-31.993.26110.32-19.512.65103.85-13.680.2116.6731.2517.1430.05-27.3727.1445.6-9.7178.76-3.5942.6821.2425.66-52.5910.725.2-17.6
23Q2 (18)26.008.06-21.389.950.2-37.3412.0837.43-55.267.202.13-64.021.55-1.27-73.951.303.17-70.920.180.0-18.1813.1833.4-52.418.64-10.34-45.3281.69-28.039.4416.90225.55-59.1910.1914.37-19.38
23Q1 (17)24.06-10.76-22.939.93-9.07-41.038.795.9-64.277.0530.56-64.361.5738.94-75.661.2643.18-73.910.1812.5-25.09.884.0-60.9320.79-26.35-34.85113.46-14.4466.23-13.4658.72-142.48.91-4.6-22.52
22Q4 (16)26.96-14.79-11.9510.92-11.58-37.028.30-63.09-49.485.40-71.4-59.311.13-72.1-73.470.88-71.34-72.590.160.0-33.339.50-59.75-44.7428.23-6.09-20.61132.61140.2325.24-32.61-172.79-454.359.34-28.21-4.3
22Q3 (15)31.64-4.327.9912.35-22.23-17.6122.49-16.738.8318.88-5.6555.014.05-31.935.743.07-31.322.330.16-27.27-36.023.60-14.7738.8230.06-11.821.2155.20-5.78-40.0244.808.18532.813.012.9328.81
22Q2 (14)33.075.9311.9915.88-5.74.2727.009.7680.8420.011.1667.035.95-7.7554.554.47-7.4545.60.22-8.33-15.3827.699.4975.5934.096.8333.3258.59-14.16-42.5341.4130.452232.8312.649.9126.65
22Q1 (13)31.221.968.416.84-2.8810.6424.6049.7363.0219.7849.0663.746.4551.4147.944.8350.4736.830.240.0-17.2425.2947.1260.0631.91-10.2625.8868.25-35.54-32.3431.75639.683687.311.5017.8314.54
21Q4 (12)30.624.5134.6517.3415.6884.2716.431.4268.1713.278.9565.264.2611.2356.043.217.045.250.24-4.0-11.1117.191.1262.1735.5619.7360.83105.8815.059.19-5.88-183.09-294.129.76-3.373.06
21Q3 (11)29.30-0.787.9614.99-1.5818.416.208.5147.1412.181.6738.413.83-0.5228.963.00-2.2828.760.25-3.85-3.8517.007.842.7429.7016.1514.7692.04-9.72-20.167.08464.6146.3410.101.26.88
21Q2 (10)29.532.5311.0215.230.0724.3314.93-1.0645.0911.98-0.8362.993.85-11.756.53.07-13.0360.730.26-10.340.015.77-0.1940.4325.570.87-14.94101.941.05-14.83-1.94-119.4290.149.98-0.60
21Q1 (9)28.8026.6531.6915.2261.74148.2915.0954.45128.6412.0850.44129.224.3659.71213.673.5359.73226.850.297.4138.115.8049.06104.6625.3514.65-8.68100.884.047.39-0.88-129.2-114.610.046.020
20Q4 (8)22.74-16.216.669.41-25.6783.439.77-11.26146.728.03-8.75155.732.73-8.08135.342.21-5.15156.980.273.850.010.60-11.0124.122.11-14.57-25.3396.97-15.88-24.583.03119.83110.619.470.21-27.88
20Q3 (7)27.142.0318.7212.663.3514.4711.017.0-0.368.8019.73-0.452.9720.73-19.952.3321.99-11.410.260.0-13.3311.916.062.4125.88-13.91-34.76115.28-3.6913.94-15.2822.4409.45023.21
20Q2 (6)26.6021.6313.7712.2599.849.9610.2955.91-12.727.3539.47-15.712.4676.98-30.71.9176.85-24.210.2623.81-10.3411.2345.47-9.4430.068.29-29.54119.7027.4227.0-19.70-425.0-442.730.000-100.0
20Q1 (5)21.872.580.376.1319.49-22.996.6066.67-21.335.2767.83-19.661.3919.83-37.951.0825.58-32.920.21-22.22-12.57.7263.21-15.2627.76-6.25-30.1393.94-26.94-0.196.06121.213.030.00-100.0-100.0
19Q4 (4)21.32-6.740.05.13-53.620.03.96-64.160.03.14-64.480.01.16-68.730.00.86-67.30.00.27-10.00.04.73-59.330.029.61-25.360.0128.5727.080.0-28.5700.013.1371.190.0
19Q3 (3)22.86-2.220.011.06-0.720.011.05-6.280.08.841.380.03.714.510.02.634.370.00.303.450.011.63-6.210.039.67-7.010.0101.187.350.0-0.00-100.00.07.67-4.60.0
19Q2 (2)23.387.30.011.1439.950.011.7940.520.08.7232.930.03.5558.480.02.5256.520.00.2920.830.012.4036.110.042.667.370.094.250.140.05.75-2.30.08.04-14.920.0
19Q1 (1)21.790.00.07.960.00.08.390.00.06.560.00.02.240.00.01.610.00.00.240.00.09.110.00.039.730.00.094.120.00.05.880.00.09.450.00.0
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)26.10-15.5910.76-25.021.1429.0511.55-45.98.51-48.77.58-56.396.03-54.350.71-11.2512.74-42.6923.46-16.992.9838.366.67-79.670.0009.78-16.27
2022 (9)30.924.614.35-8.660.8819.8321.3536.3316.5934.0117.386.3613.214.510.80-21.5722.2335.5528.23-20.6167.20-32.9532.8000.00011.6817.15
2021 (8)29.5619.5815.7151.930.73-17.215.6663.312.3865.0716.3472.1812.6467.421.020.9916.4056.4935.5660.83100.22-6.82-0.2200.0009.972.05
2020 (7)24.7210.4610.3415.660.8946.539.597.637.508.549.49-10.727.55-5.031.01-12.1710.489.3922.11-25.33107.567.13-7.9800.0009.777.96
2019 (6)22.380.278.9430.890.6121.648.9110.966.918.6510.6316.947.9522.51.1512.759.5811.5329.61-23.63100.4018.05-0.4000.0009.05-7.65
2018 (5)22.329.96.8339.670.509.238.0392.116.3666.499.0955.656.4959.851.02-0.978.5978.5938.77-8.4185.05-27.214.9500.0409.8012.26
2017 (4)20.3112.094.8972.790.46-28.194.1859.543.8233.575.8429.494.0631.391.036.194.8132.1442.33-24.18116.838.11-16.8300.0008.731.04
2016 (3)18.126.92.8300.63-14.382.6202.8604.5103.0900.9714.123.64055.83-18.21108.06-9.23-8.0600.0008.64-10.93
2015 (2)16.95-0.41-1.2400.7434.88-1.030-1.330-1.820-0.9500.85-18.270.00068.2626.1119.052757.14-19.0500.0009.701.46
2014 (1)17.0200.0600.55-1.731.0100.6100.9700.8501.040.01.99-30.954.133.664.17-87.591.6737.50.0009.560.84

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