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)2.90224.46-76.93-34.50-38.94-215.36192.432275.681009.83189.072234.2952.437.252096.97496.174.461211.76569.470.020.0-60.0217.14551.491973.5162.51-14.6-15.39-17.6594.12-133.09117.65-70.59152.137.1772.5673.85
23Q3 (19)-2.33-16.5-112.96-24.8321.87-394.548.10-90.29260.088.10-90.27260.080.33-89.75176.740.34-83.41312.50.020.0-60.033.33-70.18699.2873.207.968.54-300.00-663.64-100.0400.00187.1860.021.54-21.4746.13
23Q2 (18)-2.00-111.93-109.95-31.78-1259.85-329.2983.4484.32183.9783.2983.98182.653.224.55132.532.056.22131.20.02-50.0-71.43111.7687.36221.0767.80-5.14-0.25-39.29-610.71-171.98139.2950.8921.7127.4377.66173.75
23Q1 (17)16.7733.41-28.152.74125.05-57.9845.27314.04-40.1345.27304.1-39.053.08268.31-56.681.93303.16-64.190.04-20.0-42.8659.65614.67-27.9671.47-3.26116.317.69-85.58-8.9792.3197.80.8315.44-27.78-19.25
22Q4 (16)12.57-30.09-26.66-10.94-229.77-448.41-21.15-317.98-131.71-22.18-338.34-133.28-1.83-325.58-134.4-0.95-493.75-123.40.050.0-16.67-11.59-377.94-115.7373.889.55124.2253.33135.561233.3346.67-81.33-51.3921.3845.0527.19
22Q3 (15)17.98-10.55-7.848.43-39.188.77-5.0694.91-107.41-5.0694.98-107.61-0.4395.66-106.5-0.1697.56-103.150.05-28.57-37.54.17104.52-94.4467.44-0.78114.85-150.00-938.46-1450.0250.00118.45181.2514.7447.11-9.29
22Q2 (14)20.10-13.8831.5413.86112.58124.27-99.37-231.42-683.5-100.77-235.68-734.17-9.90-239.24-662.5-6.57-221.89-583.090.070.0-12.5-92.31-211.49-497.3767.97105.72118.62-14.44-270.93-140.93114.4425.0176.8710.02-47.59-20.1
22Q1 (13)23.3436.1746.336.52107.64116.6175.6113.36638.3874.2711.43675.267.1133.65570.755.3932.76549.40.0716.67-12.582.8012.38377.2333.040.27-3.288.45111.27-71.8391.55-4.6430.7819.1213.749.44
21Q4 (12)17.14-12.1573.833.14-59.48348.5766.70-2.29518.1666.650.29446.315.32-19.64437.374.06-20.08420.510.06-25.00.073.68-1.76273.6332.954.97-3.944.00-64.0-68.096.008.09.7116.813.45-9.38
21Q3 (11)19.5127.6863.267.7525.4822.6268.26300.821577.4966.46318.251426.556.62276.141639.535.08273.531851.720.080.033.3375.00222.861751.8531.390.96-5.0211.11-68.52133.3388.8937.37-33.3316.2529.5919.93
21Q2 (10)15.28-4.214.376.18105.32134.9817.0366.31-70.6115.8965.87-71.911.7666.04-65.831.3663.86-65.570.080.014.2923.2333.89-64.0631.09-8.99-9.6735.2917.65729.4164.71-7.56-32.4212.54-28.220
21Q1 (9)15.9561.76-19.973.01330.0-48.8110.24-5.1113.859.58-21.48112.751.067.07112.710.836.41112.580.0833.33-11.1117.35-12.02125.5434.16-0.4120.7530.00140.0490.070.00-20.0-35.017.47-5.820
20Q4 (8)9.86-17.49-30.020.70-16.67-16.6710.79333.55-3.412.20343.5113.280.99330.232.060.78368.97-3.70.060.0-14.2919.72386.919.6834.303.7847.0212.50137.525.087.50-34.37-2.7818.5536.90
20Q3 (7)11.95-10.55-28.610.84-68.06-88.72-4.62-107.97-123.37-5.01-108.86-127.42-0.43-108.35-121.18-0.29-107.34-118.350.06-14.29-33.334.05-93.73-83.833.05-3.9825.05-33.33-883.33-187.5133.3339.26115.3813.550-13.25
20Q2 (6)13.36-32.9713.72.63-55.27-7.3957.94178.3877.7356.56175.2676.535.15161.7532.733.95159.8529.080.07-22.22-30.064.63195.1670.8934.4221.670.54.26155.32-44.6895.74-11.096.690.000-100.0
20Q1 (5)19.9341.4538.125.88600.0682.18-73.92-761.77-267.47-75.15-797.77-271.61-8.34-959.79-275.21-6.60-914.81-266.670.0928.570.0-67.92-477.75-237.1328.2921.2636.47-7.69-176.92-261.54107.6919.665.450.000-100.0
19Q4 (4)14.09-15.830.00.84-88.720.011.17-43.50.010.77-41.050.00.97-52.220.00.81-48.730.00.07-22.220.017.98-28.080.023.33-11.730.010.00-73.750.090.0045.380.00.00-100.00.0
19Q3 (3)16.7442.470.07.45162.320.019.77-39.360.018.27-42.980.02.03-47.680.01.58-48.370.00.09-10.00.025.00-33.90.026.43-22.830.038.10395.240.061.90-31.020.015.620.640.0
19Q2 (2)11.75-18.570.02.84381.190.032.60-26.140.032.04-26.830.03.88-18.490.03.06-22.730.00.1011.110.037.82-23.640.034.2565.220.07.69461.540.089.74-12.130.015.52-30.750.0
19Q1 (1)14.430.00.0-1.010.00.044.140.00.043.790.00.04.760.00.03.960.00.00.090.00.049.530.00.020.730.00.0-2.130.00.0102.130.00.022.410.00.0
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)5.64-70.27-18.62014.81140.7477.10076.34013.8508.8300.11-54.1798.77062.51-15.39-24.000124.00-14.330.00024.0149.32
2022 (9)18.9712.185.304.136.152.1-11.670-12.660-4.640-2.7100.24-20.0-3.69073.88124.22-44.740144.7466.090.00016.082.49
2021 (8)16.9117.595.0978.66.03-12.7338.42037.47014.98011.3500.307.1445.21032.95-3.9413.57087.14-34.640.00015.69-4.33
2020 (7)14.381.272.858.786.9127.03-8.030-8.540-3.040-2.2400.28-22.22-0.30034.3047.02-33.330133.3347.170.00016.407.47
2019 (6)14.200.282.6233.675.4417.4527.7221.6927.0028.5111.7057.059.6762.520.3628.5733.3320.9823.3313.149.4015.1790.60-1.350.00015.26-13.59
2018 (5)14.1646.281.9604.631.8522.78-93.521.01-92.857.45-93.265.95-92.90.28-3.4527.55-92.2420.62-28.138.16091.84-11.720.00017.66-31.71
2017 (4)9.68-48.18-13.9304.55-8.39350.3211021.27293.9910952.26110.485871.8983.765447.020.29-43.14355.023775.7628.69-25.5-3.960104.03152.650.00025.8646.43
2016 (3)18.68-16.271.75-76.294.9643.673.15-66.382.66-69.251.85-74.931.51-72.450.51-16.399.16-33.6738.519.3752.94-32.4241.1890.050.00017.6614.08
2015 (2)22.319.27.38-4.773.455.349.37-9.568.65-16.517.38-26.865.48-22.60.61-7.5813.81-4.535.21-16.5478.333.9421.67-16.940.00015.4815.87
2014 (1)20.4307.7503.28-22.3210.36010.36010.0907.0800.663.1314.4637.0642.19-18.3675.3638.1626.09-46.20.00013.36-5.18

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