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)4.38-63.29-71.48-3.94-194.94-153.4623.05-30.9116.9525.21-18.8332.21.35-32.84-18.181.07-29.14-10.830.04-20.0-33.3331.65-22.8424.839.86-1.43-19.13-16.44-235.89-144.62116.4432.4687.494.57-35.54-27.34
23Q3 (19)11.9317.190.684.1568.026.1433.3619.0610.6531.069.069.022.0111.674.151.5112.6911.030.0525.025.041.0213.919.840.44-14.12-16.4512.1035.75-4.9587.90-3.50.727.09-22.937.59
23Q2 (18)10.18907.94-45.152.47129.4-78.828.0254.139.6728.4858.6624.971.80109.3-22.081.3494.2-16.250.0433.33-42.8636.0126.0419.1647.09-0.82-13.448.91119.37-80.5391.09-37.6167.989.20-11.45100.0
23Q1 (17)-1.26-108.2-111.25-8.40-213.98-440.0818.18-7.76-7.2417.95-5.87-3.960.86-47.88-38.130.69-42.5-31.00.03-50.0-40.028.5712.6612.1747.48-3.67-5.72-46.00-224.86-451.27146.00135.0868.010.3965.1870.33
22Q4 (16)15.3629.6277.167.3788.49756.9819.71-34.63-11.3819.07-33.06-15.431.65-14.51-4.071.20-11.76-0.830.0650.020.025.36-32.12-9.8249.291.84-3.1336.84189.47802.6362.11-28.84-35.256.29-4.557.34
22Q3 (15)11.85-36.15-14.253.91-66.44-46.830.1518.053.5928.4925.0152.761.93-16.4510.921.36-15.010.570.04-42.86-33.3337.3623.6352.5548.40-11.03-4.3312.73-72.2-66.2787.2760.9440.176.5943.2633.13
22Q2 (14)18.5665.71123.0811.65371.66558.1925.5530.3641.3922.7921.9426.822.3166.19122.121.6060.0110.530.0740.075.030.2218.6515.2154.408.0210.7945.77249.55342.4954.23-37.6-40.664.60-24.59-39.55
22Q1 (13)11.2029.18-12.022.47187.21-50.119.60-11.87-2.2918.69-17.12-6.691.39-19.19-9.741.00-17.36-7.410.050.00.025.47-9.42-3.8150.36-1.02-5.3713.10220.83-47.086.90-9.415.426.104.1-1.93
21Q4 (12)8.67-37.26-29.970.86-88.3-84.8922.2413.323.8322.5520.9134.311.72-1.1531.31.21-1.6332.970.05-16.670.028.1214.8211.950.880.57-5.164.08-89.18-87.2295.9254.0540.945.8618.38-4.4
21Q3 (11)13.8266.11-4.567.35315.253.6719.638.63-13.8718.653.78-17.151.7467.31-19.071.2361.84-10.870.0650.00.024.49-6.63-17.5150.593.03-22.5437.74264.7820.7562.26-31.86-9.434.95-34.95-17.77
21Q2 (10)8.32-34.64210.451.77-64.24133.0818.07-9.925.317.97-10.2811.131.04-32.47-1.890.76-29.634.110.04-20.00.026.23-0.94-8.7349.10-7.74-28.9410.34-58.13133.2591.3821.36-30.37.6122.350
21Q1 (9)12.732.8369.964.95-13.01468.9720.0611.6971.7520.0319.371.341.5417.5645.281.0818.6845.950.050.00.026.485.3734.953.22-0.8-28.8624.71-22.66262.3575.2910.64-19.26.221.470
20Q4 (8)12.38-14.511.935.69-19.7514.2617.96-21.199.7816.79-25.419.521.31-39.07-17.610.91-34.06-14.150.05-16.67-16.6725.13-15.3611.1953.65-17.85-17.2231.942.226.9468.06-1.01-1.136.131.8312.68
20Q3 (7)14.48440.364.927.09232.52114.8522.7932.81-1.0422.5139.21-2.132.15102.83-2.271.3889.04-3.50.0650.00.029.693.31-0.565.31-5.48-0.9131.25200.45120.9868.75-47.56-19.936.0206.36
20Q2 (6)2.68-64.22-74.81-5.35-714.94-196.0517.1646.92-2.4416.1738.32-7.711.060.0-43.320.73-1.35-42.060.04-20.0-42.8628.7446.4121.7369.10-7.637.9-31.11-556.3-199.09131.1140.791.110.000-100.0
20Q1 (5)7.49-32.28228.510.87-82.53117.411.68-28.614.0111.69-23.7411.121.06-33.3343.240.74-30.1932.140.05-16.6725.019.63-13.14-1.5574.8115.4327.926.82-77.17115.7793.1835.38-34.950.00-100.0-100.0
19Q4 (4)11.0625.970.04.9850.910.016.36-28.960.015.33-33.350.01.59-27.730.01.06-25.870.00.060.00.022.60-24.260.064.81-1.670.029.87111.220.068.83-19.830.05.44-3.890.0
19Q3 (3)8.78-17.480.03.30-40.750.023.0330.930.023.0031.280.02.2017.650.01.4313.490.00.06-14.290.029.8426.390.065.912.920.014.14-54.960.085.8625.150.05.6614.340.0
19Q2 (2)10.64366.670.05.57211.40.017.5956.630.017.5266.540.01.87152.70.01.26125.00.00.0775.00.023.6118.410.064.049.510.031.40172.60.068.60-52.110.04.95-46.490.0
19Q1 (1)2.280.00.0-5.000.00.011.230.00.010.520.00.00.740.00.00.560.00.00.040.00.019.940.00.058.480.00.0-43.240.00.0143.240.00.09.250.00.0
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)6.93-52.73-0.8305.1438.2526.3111.7726.2519.375.94-15.024.54-9.020.16-23.8134.8519.3539.86-19.13-3.160103.1645.440.0007.7533.85
2022 (9)14.6630.786.8468.473.72-13.1823.5417.0621.9910.786.9916.694.9918.250.215.029.2011.3749.29-3.1329.0744.170.93-11.150.0005.79-3.34
2021 (8)11.2112.324.0641.464.28-22.9220.1114.3919.8516.75.9923.254.2223.390.2011.1126.222.550.88-5.1620.1722.9679.83-4.510.0005.99-12.3
2020 (7)9.9814.712.871.415.5620.3217.580.9817.010.294.86-23.13.42-20.470.18-21.7425.585.753.65-17.2216.411.8683.59-0.360.0006.8312.34
2019 (6)8.7073.652.8304.6214.3217.4131.416.9627.426.3213.264.3011.980.23-11.5424.2025.1964.8110.3716.11083.89-16.780.0006.0813.86
2018 (5)5.0114.91-0.1404.04-19.613.2526.5513.3132.445.5846.463.8444.360.2618.1819.338.2958.72-11.03-1.220100.81-7.390.0005.34-14.01
2017 (4)4.36-45.77-0.9205.028.6210.47-28.0910.05-29.773.81-42.272.66-37.260.22-15.3817.85-17.4466.00-11.24-8.860108.8639.390.0006.2110.3
2016 (3)8.04-49.183.18-73.764.6223.9514.5652.9414.3153.716.6017.654.2413.670.26-23.5321.6242.7174.36-6.0321.90-82.7678.1000.0005.6334.69
2015 (2)15.82-63.5112.12-38.733.73111.189.52-61.299.31-57.685.61-44.953.73360.490.341033.3315.15-47.6779.138.2127.0557.93-27.0500.0004.18-72.43
2014 (1)43.36019.7801.772.6124.59022.00010.1900.8100.030.028.952.4473.13-94.8180.450.3319.55-1.350.00015.16-10.61

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