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)18.6054.126.446.42116.894.396.1571.3120.835.6048.5422.813.7415.79-1.321.4416.132.130.23-17.86-14.8110.7855.1130.35190.29-6.64-9.42103.7624.24-14.29-4.51-125.6678.577.9920.5116.47
23Q3 (19)12.07-10.19-25.592.96-33.03-10.843.5926.4136.53.7730.97.713.2341.0541.051.2430.5327.840.283.721.746.955.463.27203.83-1.452.1383.52-46.31-34.0717.58131.65165.936.631063.16-21.63
23Q2 (18)13.44-3.66199.334.4262.5137.842.8462.29121.862.8847.69122.192.29108.18139.690.9572.73151.630.2742.1180.06.59-5.04182.48206.829.3716.82155.560.072.05-55.560.0-640.740.57-96.9121.11
23Q1 (17)13.95-5.1714.632.72-55.77580.01.75-65.6252.171.95-57.2496.971.10-70.9874.60.55-60.9957.140.19-29.63-13.646.94-16.0813.77189.10-9.98-6.0155.5628.5366.67-55.56-163.89-190.9118.36167.641.77
22Q4 (16)14.71-9.315.36.1585.24162.825.0993.5467.434.5630.2990.03.7965.5128.311.4145.3688.00.2717.390.08.2722.889.25210.075.2627.69121.05-4.4356.09-21.0521.05-193.786.86-18.91-59.53
22Q3 (15)16.22261.256.643.32128.42637.782.63120.25317.463.50126.96392.962.29139.69458.540.97152.72246.430.2353.330.06.73184.2312.17199.5712.7329.85126.6740.168.89-26.67-359.56-206.678.46413.33-62.35
22Q2 (14)4.49-63.11-70.96-11.68-3020.0-3750.0-12.99-1229.57-3518.42-12.98-1411.11-4907.41-5.77-1015.87-3946.67-1.84-625.71-1182.350.15-31.82-28.57-7.99-230.98-231.2177.04-11.9922.0390.41171.2313.0110.27-83.19-48.63-2.70-114.97-118.31
22Q1 (13)12.17-12.88-27.560.40-82.91-86.351.15-62.17-69.330.99-58.75-66.550.63-62.05-71.880.35-53.33-62.770.22-18.52-18.526.10-19.42-27.81201.1722.2824.2933.33-57.02-57.5861.11172.22185.1918.046.439.8
21Q4 (12)13.97-8.15-35.862.34420.0-63.443.04382.54-56.632.40238.03-46.781.66304.88-56.880.75167.86-44.030.2717.393.857.5726.17-34.69164.517.04-18.9877.553.4-14.5222.45-10.2172.1916.95-24.5723.9
21Q3 (11)15.21-1.62-13.580.4540.62-87.80.6365.79-85.140.71162.96-84.330.41173.33-90.10.2864.71-79.860.239.52-11.546.00-1.48-37.3153.695.93-38.3475.00-6.25-13.5925.0025.089.2922.4752.3461.31
21Q2 (10)15.46-7.98-5.390.32-89.08-61.90.38-89.87-65.770.27-90.88-87.50.15-93.3-91.230.17-81.91-75.00.21-22.22-4.556.09-27.93-15.53145.08-10.36-44.5580.001.826.6720.00-6.67-20.014.75-10.230
21Q1 (9)16.80-22.87577.422.93-54.22113.993.75-46.5116.882.96-34.37115.032.24-41.82124.370.94-29.85137.90.273.8592.868.45-27.09163.82161.85-20.29-36.8178.57-13.39-16.8721.43159.82291.0716.4320.10
20Q4 (8)21.7823.7545.26.4073.44115.497.0165.33319.764.51-0.44181.873.85-7.0226.271.34-3.6143.640.260.013.0411.5921.1169.44203.06-18.54-13.0790.724.53-50.528.25-37.56110.613.68-1.796.21
20Q3 (7)17.607.71-1.233.69339.29515.04.24281.98388.444.53109.72666.254.14142.11881.131.39104.4113800.00.2618.1830.09.5732.73159.35249.27-4.7220.0386.7915.72316.9813.21-47.17-90.5713.930-30.83
20Q2 (6)16.34558.873.220.84104.01255.561.11105.0179.292.16110.96198.631.71118.61223.020.68127.42409.090.2257.1410.07.21154.46104.25261.622.145.6375.00-20.6587.525.00356.25-58.330.000-100.0
20Q1 (5)2.48-83.47-84.68-20.94-805.05-1317.44-22.21-1429.94-1109.55-19.70-1331.25-832.34-9.19-878.81-647.02-2.48-550.91-417.950.14-39.13-30.0-13.24-293.57-291.61256.149.6525.794.52-48.4422.325.48107.05-75.890.00-100.0-100.0
19Q4 (4)15.00-15.820.02.97395.00.01.67213.610.01.60300.00.01.18322.640.00.555400.00.00.2315.00.06.8485.370.0233.5912.480.0183.33558.330.0-77.78-155.560.012.88-36.050.0
19Q3 (3)17.8212.570.00.60211.110.0-1.47-5.00.0-0.8063.470.0-0.5361.870.00.01104.550.00.200.00.03.694.530.0207.67-16.150.0-40.00-200.00.0140.00133.330.020.14-3.50.0
19Q2 (2)15.83-2.220.0-0.54-131.40.0-1.40-163.640.0-2.19-181.410.0-1.39-182.740.0-0.22-128.210.00.200.00.03.53-48.910.0247.6821.550.040.00-48.240.060.00164.00.020.871.160.0
19Q1 (1)16.190.00.01.720.00.02.200.00.02.690.00.01.680.00.00.780.00.00.200.00.06.910.00.0203.770.00.077.270.00.022.730.00.020.630.00.0
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)14.4313.04.18301.923.09-1.213.71706.523.67680.8510.33753.724.15287.850.945.627.8270.74190.29-9.42112.74-50.98-12.7400.2420.457.55-8.48
2022 (9)12.77-16.71.04-35.83.13-21.260.46-78.10.47-72.351.21-73.581.07-49.050.89-7.294.58-35.67210.0727.69230.00197.5-130.0000.20-33.68.25-53.18
2021 (8)15.33-6.181.621146.153.98-14.472.10483.331.70507.144.58510.672.10118.750.9615.667.1215.02164.51-18.9877.31106.1622.69-63.70.30-7.717.625.83
2020 (7)16.340.990.13-89.264.6528.070.3644.00.28-12.50.75-16.670.96-14.290.83-4.66.1918.36203.06-13.0737.50-92.562.5000.3324.5316.65-10.05
2019 (6)16.18-9.761.21-77.33.63119.00.25-95.320.32-93.160.90-93.791.12-79.220.87-12.125.23-35.11233.595.68500.00400.0-390.0000.26-25.0818.513.06
2018 (5)17.93-7.155.33-27.481.66-9.675.34-30.294.68-26.4214.49-23.295.39-26.370.99-5.718.06-21.75221.037.54100.003.990.0000.351.3617.963.82
2017 (4)19.31-3.017.35-3.291.8321.87.6610.696.369.0918.894.837.32-4.441.05-11.0210.3011.23205.5329.6796.17-12.323.8300.35017.303.47
2016 (3)19.9120.677.60132.421.51-10.286.92124.685.83126.8518.02136.797.66107.031.187.279.2660.49158.50-4.73109.683.58-9.6800.00016.722.2
2015 (2)16.50-25.883.27-47.01.68-12.173.08-51.882.57-35.267.61-25.683.70-17.781.1014.585.77-37.69166.37-4.58105.889.33-5.8800.00016.369.5
2014 (1)22.2606.1701.913.586.4003.97010.2404.5000.96-15.049.264.99174.368.4996.8545.963.94-88.30.00014.9417.92

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