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)18.57-8.25-2.931.937.82-66.671.76-16.19-58.971.4816.54-57.10.7633.33-67.80.5420.0-57.140.2821.74-15.155.03-19.0-26.3578.53-7.73-21.59109.1727.88-19.2-9.17-162.6473.8812.44-15.321.8
23Q3 (19)20.2415.0717.061.79-50.55-64.622.10-44.15-57.141.27-64.62-67.270.57-73.85-79.20.45-61.86-66.420.23-23.33-28.126.21-9.48-13.8785.11-14.68-26.3185.37-11.28-17.3814.63287.14540.9814.6914.524.6
23Q2 (18)17.59-1.12-8.193.62-9.05-32.213.768.36-25.693.5951.48-6.992.1852.45-14.511.1849.37-1.670.303.453.456.867.69-7.6799.75-10.41-23.196.22-16.08-8.793.78125.8168.8612.833.633.3
23Q1 (17)17.79-7.0-6.023.98-31.261.273.47-19.11-10.572.37-31.31.281.43-39.4110.850.79-37.319.70.29-12.1211.546.37-6.73-2.0111.3411.17-8.37114.65-15.1412.95-14.6558.26-1199.1512.381.31-6.35
22Q4 (16)19.1310.641.225.7914.4381.54.29-12.4540.663.45-11.0851.982.36-13.87101.711.26-5.97103.230.333.1326.926.83-5.2712.15100.15-13.283.33135.1030.7629.8-35.10-957.71-759.9712.223.65-5.93
22Q3 (15)17.29-9.761.175.06-5.2491.674.90-3.1666.673.880.5285.652.747.45142.481.3411.67123.330.3210.3418.527.21-2.9622.41115.49-10.9619.49103.32-2.0614.99-3.3239.54-132.6911.79-5.07-7.96
22Q2 (14)19.161.2225.315.3435.88127.235.0630.4184.673.8664.96113.262.5597.67136.111.2081.82114.290.2911.540.07.4314.3142.34129.716.7520.73105.493.9322.68-5.49-386.71-139.1812.42-6.052.64
22Q1 (13)18.930.1626.793.9323.287.143.8827.2179.632.343.0843.561.2910.2641.760.666.4537.50.260.0-3.76.506.7329.48121.5125.3725.11101.50-2.484.86-1.1372.37-135.1913.221.779.26
21Q4 (12)18.9010.5928.833.1920.83-12.123.053.74-23.942.278.61-31.01.173.54-54.470.623.33-49.180.26-3.7-29.736.093.41.8496.920.28-13.46104.0815.8414.93-4.08-140.2-143.2412.991.4129.13
21Q3 (11)17.0911.7713.332.6412.34-32.312.947.3-13.022.0915.47-23.441.134.63-47.690.607.14-43.930.27-6.9-28.955.8912.849.0796.65-10.04-16.2489.854.49-22.3110.15-27.53164.8912.815.8731.12
21Q2 (10)15.292.41-6.712.3511.9-27.242.7426.85-30.631.8111.04-49.581.0818.68-53.040.5616.67-54.840.297.41-12.125.223.98-17.14107.4410.634.985.99-11.164.9114.01337.1-23.712.100.0-3.2
21Q1 (9)14.931.77-11.972.10-42.15223.532.16-46.13202.861.63-50.46158.840.91-64.59185.850.48-60.66188.890.27-27.0328.575.02-16.05219.7597.12-13.2920.3996.796.8819.573.21-66.04-83.1712.1020.28-30.58
20Q4 (8)14.67-2.72-2.273.63-6.9271.234.0118.64109.953.2920.51133.332.5718.98367.271.2214.02258.820.37-2.6354.175.9810.7463.39112.00-2.9443.6490.56-21.69-18.599.44160.33184.0110.062.97-21.16
20Q3 (7)15.08-7.99-8.383.9020.74137.83.38-14.4318.62.73-23.9624.092.16-6.09145.451.07-13.7172.580.3815.1535.715.40-14.299.09115.3912.66155.91115.6441.09102.82-15.64-185.2-137.159.77-21.84-31.87
20Q2 (6)16.39-3.36-11.123.23290.056.043.95288.122.673.59229.668.542.30316.98180.491.24329.63110.170.3357.1422.226.30301.2717.32102.4226.96136.8181.971.2526.9518.36-3.61-49.3112.50-28.28-18.62
20Q1 (5)16.9612.993.35-1.70-180.19-286.36-2.10-209.95-824.14-2.77-296.45-9333.33-1.06-292.73-10700.0-0.54-258.82-5500.00.21-12.5-4.551.57-57.1-45.6780.673.46107.4880.95-27.22152.0419.05269.52-92.8617.4336.6-1.53
19Q4 (4)15.01-8.810.02.1229.270.01.91-32.980.01.41-35.910.00.55-37.50.00.34-45.160.00.24-14.290.03.66-26.060.077.9772.920.0111.2495.090.0-11.24-126.690.012.76-11.020.0
19Q3 (3)16.46-10.740.01.64-20.770.02.85-11.490.02.203.290.00.887.320.00.625.080.00.283.70.04.95-7.820.045.094.250.057.02-11.690.042.1116.250.014.34-6.640.0
19Q2 (2)18.4412.370.02.07570.450.03.221010.340.02.137000.00.00.828100.00.00.595800.00.00.2722.730.05.3785.810.043.2511.240.064.57141.510.036.22-86.420.015.36-13.220.0
19Q1 (1)16.410.00.0-0.440.00.00.290.00.00.030.00.00.010.00.00.010.00.00.220.00.02.890.00.038.880.00.0-155.560.00.0266.670.00.017.700.00.0
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)18.43-0.862.93-42.551.9734.412.86-37.282.26-34.34.76-46.343.00-38.021.11-14.626.15-12.2778.53-21.59102.73-8.12-2.7304.983.613.005.18
2022 (9)18.5912.945.10100.01.47-22.214.5668.273.4477.328.87107.734.84119.01.3020.377.0126.76100.153.33111.8018.89-11.8004.81-11.6312.36-0.96
2021 (8)16.465.782.55-8.61.8817.712.71-5.241.94-13.784.27-21.072.21-24.321.08-12.95.536.3596.92-13.4694.04-3.665.96149.255.442.2812.486.67
2020 (7)15.56-5.812.7989.81.60-4.042.8633.022.2549.015.41177.442.92141.321.2456.965.2022.35112.0043.6497.6143.052.39-92.475.32-13.0611.70-21.0
2019 (6)16.5222.551.4701.67-8.322.1501.5101.9501.2100.79-27.524.25142.8677.9778.6768.24-71.3431.7606.12345.3914.81-1.46
2018 (5)13.48-11.2-1.2801.828.7-0.540-0.560-0.920-0.5801.09-19.851.75-69.1943.64-24.56238.10170.77-138.1001.37015.0313.26
2017 (4)15.184.123.218.081.67-12.163.65-0.822.883.236.37-11.283.93-8.821.36-11.115.68-4.8657.85-14.1887.938.9312.07-37.40.00013.27-3.49
2016 (3)14.5815.622.97590.71.91-10.023.6802.7907.1804.3101.533.385.97338.9767.41-3.9580.72019.28-86.020.00013.75-0.94
2015 (2)12.61-10.120.43-78.712.122.92-1.140-1.480-3.760-2.1201.4810.451.36-74.8170.18-3.51-37.550137.93380.20.00013.882.36
2014 (1)14.0302.0202.064.862.8302.3005.5003.2401.34-2.95.40-17.0572.73-13.8671.28-17.5328.72113.220.00013.562.65

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