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)12.58-10.21-18.73-4.4025.17-175.73-1.90-171.97-119.06-1.17-178.52-114.25-0.26-204.0-115.48-0.05-119.23-104.240.1440.07.697.10-51.86-60.7567.345.15-0.87233.33200.0298.04-133.33-138.1-422.2212.40-22.11-6.42
23Q3 (19)14.01-20.94-16.06-5.88-217.84-58.922.64-56.22-64.611.49-63.48-71.560.25-62.12-72.530.26-49.02-62.860.100.0-23.0814.75-18.51-6.9464.042.1457.54-233.33-716.67-366.67350.00172.22133.3315.92-4.56-9.03
23Q2 (18)17.7225.14-13.35-1.8566.9625.16.03203.02-25.744.08193.53-9.330.66186.964.760.51104.04.080.100.00.018.1035.785.2962.70-1.8567.11-28.5789.018.57128.57-64.292.8616.68-2.68-13.89
23Q1 (17)14.16-8.5316.83-5.60-196.39-2645.451.99-80.04-76.171.39-83.07-77.80.23-86.31-78.90.25-78.81-68.350.10-23.08-16.6713.33-26.31-6.7263.88-5.9647.09-260.00-543.530360.00770.0260.017.1429.3619.19
22Q4 (16)15.48-7.2541.895.81257.03336.849.9733.65111.238.2156.6892.271.6884.6266.341.1868.5766.20.130.0-18.7518.0914.13110.167.9367.1140.9358.62217.24105.1741.38-72.41-42.0713.25-24.2926.55
22Q3 (15)16.69-18.3923.08-3.70-49.8-217.837.46-8.137.185.2416.44-20.610.9144.44-42.770.7042.86-37.50.1330.0-18.7515.85-7.847.0340.658.34-20.03-50.00-60.0-205.0150.0020.0162.517.50-9.6551.12
22Q2 (14)20.4568.7379.39-2.47-1222.73-485.948.12-2.7544.744.50-28.12-16.970.63-42.2-51.540.49-37.97-48.960.10-16.67-41.1817.1920.2987.2537.52-13.61-15.36-31.250-365.63125.0025.041.6719.3734.770.66
22Q1 (13)12.1211.0947.270.22-83.46103.068.3576.91488.376.2646.6277.841.097.92342.220.7911.27363.330.12-25.033.3314.2965.97368.5243.43-9.921.750.00-100.0-100.0100.0040.0150.014.3837.34-20.95
21Q4 (12)10.91-19.5416.441.33-57.64120.814.72-32.18128.24.27-35.3125.521.01-36.48142.260.71-36.61141.040.160.045.458.61-20.13171.2248.20-5.1731.6928.57-40.0-28.5771.4325.012.7810.47-9.59-44.75
21Q3 (11)13.5618.9511.423.14390.62189.466.9624.06373.476.6021.77355.171.5922.31591.31.1216.67460.00.16-5.8833.3310.7817.4380.5750.8314.6647.7247.62304.76120.4157.14-35.24-82.8611.582.03-27.44
21Q2 (10)11.4038.52-54.20.64108.89-92.875.61360.93-76.615.42253.98-77.341.30388.89-67.980.96420.0-69.130.1788.8930.779.18200.98-67.6444.3324.2829.9611.76-96.08-69.0488.24144.1242.3111.35-37.60
21Q1 (9)8.23-12.17-28.25-7.20-12.6840.15-2.1587.1643.57-3.5278.969.04-0.4581.17-28.57-0.3082.66-30.430.09-18.1828.573.05125.23-32.9735.67-2.5421.49300.00650.0-7.69-200.00-415.7911.1118.19-4.010
20Q4 (8)9.37-23.01-35.73-6.39-82.05-108.82-16.74-1238.78-1472.13-16.73-1253.79-1078.17-2.39-1139.13-1227.78-1.73-965.0-1630.00.11-8.3310.0-12.09-302.51-271.4936.606.3619.8440.00117.14116.063.33-81.0-81.918.9518.73-6.47
20Q3 (7)12.17-51.17.32-3.51-139.0935.711.47-93.87-85.991.45-93.94-86.180.23-94.33-84.560.20-93.57-82.910.12-7.699.095.97-78.96-59.1434.410.8820.78-233.33-714.04-343.33333.33437.63126.1915.960-17.56
20Q2 (6)24.89117.0120.468.98174.65177.0223.98729.4612.3923.92718.09611.114.061260.0776.673.111452.17823.260.1385.7130.028.37523.52034.1116.1813.5138.00-88.31-84.062.00127.56145.090.000-100.0
20Q1 (5)11.47-21.33-30.15-12.03-293.14-19.7-3.81-412.312.01-3.87-172.5410.62-0.35-94.4430.0-0.23-130.036.110.07-30.0-22.224.55-35.46569.1229.36-3.864.11325.00230.030.0-225.00-164.29-68.750.00-100.0-100.0
19Q4 (4)14.5828.570.0-3.0643.960.01.22-88.370.0-1.42-113.540.0-0.18-112.080.0-0.10-108.550.00.10-9.090.07.05-51.750.030.547.20.0-250.00-375.00.0350.00137.50.020.264.650.0
19Q3 (3)11.340.440.0-5.4653.170.010.49324.150.010.49324.150.01.49348.330.01.17372.090.00.1110.00.014.6100.028.49-5.190.0-52.63-122.160.0147.37207.180.019.361.680.0
19Q2 (2)11.29-31.240.0-11.66-16.020.0-4.68-8.080.0-4.68-8.080.0-0.60-20.00.0-0.43-19.440.00.1011.110.0-0.00-100.00.030.056.560.0237.50-5.00.0-137.50-3.130.019.04-21.320.0
19Q1 (1)16.420.00.0-10.050.00.0-4.330.00.0-4.330.00.0-0.500.00.0-0.360.00.00.090.00.00.680.00.028.200.00.0250.000.00.0-133.330.00.024.200.00.0
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)14.43-9.64-4.4509.6232.011.83-78.651.22-80.450.89-79.770.95-68.230.43-2.2712.79-22.267.34-0.87-242.110342.11255.10.2520.7515.27-3.54
2022 (9)15.9740.210.388.577.28100.978.5787.536.2453.324.4029.792.9918.180.44-24.1416.4494.3367.9340.934.88-40.2496.344.910.21-0.0315.8329.65
2021 (8)11.39-24.620.3503.62-20.64.5775.774.0758.373.39135.422.53109.090.5838.18.4611.948.2031.698.16091.84-46.680.21-8.3312.21-32.5
2020 (7)15.1113.78-1.8804.561.532.60157.432.57594.591.44657.891.21348.150.425.07.5628.3536.6019.84-72.220172.22-78.080.23-9.7118.09-12.23
2019 (6)13.2828.43-7.5004.5020.321.0100.3700.1900.2700.400.05.89030.541.53-685.710785.7100.254.0920.61-4.76
2018 (5)10.34-36.09-14.6903.7415.07-8.180-8.180-4.190-3.1400.40-9.09-3.89030.0810.1178.180-80.0000.24021.6411.26
2017 (4)16.1875.3-3.8603.25-58.111.6901.6800.9200.8400.444.765.28027.3222.51-241.670341.67599.220.00019.450.93
2016 (3)9.23409.94-11.8507.75-30.61-23.190-23.180-11.950-9.7800.4216.67-15.11022.308.7351.14-84.6648.8600.00019.27-1.38
2015 (2)1.810-22.08011.175.67-6.580-6.590-2.940-2.1900.365.885.38020.51-32.06333.33230.54-233.3300.00019.54-13.39
2014 (1)-7.550-30.52010.5780.02-30.180-26.050-11.750-8.8300.34-37.04-18.85030.19-4.1100.84-29.04-1.2700.00022.5624.64

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