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)8.05-9.75-9.752.62-31.41-50.753.44-22.7-48.663.16-9.2-45.611.06-13.11-52.040.71-8.97-43.650.18-5.26-5.267.82-10.42-24.8882.54-1.64-8.8576.47-11.46-5.6923.5372.558.8214.3110.3331.53
23Q3 (19)8.92-3.98-5.913.82-10.966.114.4564.811159.523.48102.331300.01.22117.861209.090.7885.711200.00.1911.760.08.7321.25159.8283.92-10.94-16.1286.36-43.86108.6413.64125.32-98.8112.97-2.99-3.28
23Q2 (18)9.2942.05-25.084.29131.89-41.872.7097.08-54.921.7268.63-62.030.5647.37-73.710.4227.27-63.480.17-15.0-26.097.2042.29-19.1994.2311.34-17.65153.8523.0824.26-53.85-43.59-126.1513.3713.8816.16
23Q1 (17)6.54-26.68-47.01.85-65.23-73.31.37-79.55-80.291.02-82.44-81.150.38-82.81-84.430.33-73.81-75.910.205.26-16.675.06-51.39-49.5584.63-6.54-3.75125.0054.1725.0-37.50-273.44011.747.911.92
22Q4 (16)8.92-5.91-37.85.3247.78-36.066.701695.24-13.15.812103.45-5.992.212109.09-26.091.262000.0-23.170.190.0-24.010.41209.82-1.4290.55-9.51.1881.08108.11-25.5621.62-98.12402.710.88-18.87-12.05
22Q3 (15)9.48-23.55-42.893.60-51.22-68.7-0.42-107.01-103.76-0.29-106.4-103.23-0.11-105.16-102.20.06-94.78-97.760.19-17.39-34.483.36-62.29-75.51100.05-12.577.89-1000.00-907.69-1068.751150.004930.035750.013.4116.5133.57
22Q2 (14)12.400.49-31.427.386.49-43.455.99-13.81-51.464.53-16.27-53.492.13-12.7-56.261.15-16.06-56.270.23-4.17-11.548.91-11.17-40.92114.4330.1425.46123.8123.8117.36-23.810-333.3311.519.726.28
22Q1 (13)12.34-13.95-16.576.93-16.71-27.516.95-9.86-20.215.41-12.46-22.052.44-18.39-22.291.37-16.46-21.260.24-4.00.010.03-5.02-16.4987.93-1.74-2.16100.00-8.2-8.20.00100.0100.010.49-15.2-9.57
21Q4 (12)14.34-13.615.838.32-27.657.917.71-31.043.776.18-31.181.812.99-40.28.331.64-38.819.330.25-13.798.710.56-23.03-2.9489.49-3.491.99108.935.524.39-7.14-121.43-64.2912.3723.21-8.84
21Q3 (11)16.60-8.195.8711.50-11.882.2211.18-9.4-1.418.98-7.8-0.885.002.6725.942.681.935.350.2911.5438.113.72-9.02-8.3592.731.67-8.01103.23-2.154.81-3.2341.29-312.910.04-7.29-15.98
21Q2 (10)18.0822.2439.7213.0536.5147.4612.3441.6856.89.7440.3572.084.8755.198.782.6351.15115.570.268.3330.015.0825.5630.4591.211.49-21.91105.49-3.15-6.92-5.4938.4658.7910.83-6.640
21Q1 (9)14.799.1534.099.5623.9952.728.7117.2324.796.9414.3325.723.1413.7723.141.7416.034.880.244.359.0912.0110.3914.4989.872.43-18.08108.934.3923.26-8.93-105.36-195.9811.60-14.520
20Q4 (8)13.55-13.5812.457.71-31.473.637.43-34.4819.266.07-33.06.492.76-30.485.751.50-24.2414.50.239.529.5210.88-27.3211.0287.74-12.96-23.49104.355.95-12.25-4.35-386.9677.0213.5713.5629.48
20Q3 (7)15.6821.1798.2311.2527.12577.7111.3444.09759.099.0660.071061.543.9762.041002.781.9862.3661.540.215.00.014.9729.5194.11100.80-13.7-12.7398.48-13.1-21.211.52111.36106.0611.9500.93
20Q2 (6)12.9417.3244.98.8541.3766.677.8712.7527.355.662.5432.552.45-3.9223.741.22-5.4320.790.20-9.09-4.7611.5610.217.36116.806.46-4.99113.3328.2534.58-13.33-243.33-201.330.000-100.0
20Q1 (5)11.03-8.46-0.996.26-15.86-7.676.9812.048.725.52-3.166.772.55-2.310.871.29-1.5310.260.224.764.7610.497.043.05109.71-4.330.7288.37-25.69-18.099.30149.17276.740.00-100.0-100.0
19Q4 (4)12.0552.340.07.44348.190.06.23371.970.05.70630.770.02.61625.00.01.31403.850.00.210.00.09.8092.530.0114.68-0.720.0118.92-4.860.0-18.9224.320.010.48-11.490.0
19Q3 (3)7.91-11.420.01.66-68.740.01.32-78.640.00.78-81.730.00.36-81.820.00.26-74.260.00.210.00.05.09-48.320.0115.51-6.040.0125.0048.440.0-25.00-290.00.011.842.870.0
19Q2 (2)8.93-19.840.05.31-21.680.06.18-3.740.04.27-17.410.01.98-13.910.01.01-13.680.00.210.00.09.85-3.240.0122.9312.850.084.21-21.950.013.16350.00.011.510.960.0
19Q1 (1)11.140.00.06.780.00.06.420.00.05.170.00.02.300.00.01.170.00.00.210.00.010.180.00.0108.930.00.0107.890.00.0-5.260.00.011.400.00.0
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)8.14-25.733.10-47.993.3323.582.95-40.762.32-41.713.19-52.322.22-43.510.74-15.917.15-13.5482.54-8.85105.08-11.73-5.0800.00013.0513.38
2022 (9)10.96-31.595.96-44.192.698.314.98-50.553.98-50.446.69-58.583.93-55.690.88-17.768.27-35.8990.551.18119.0512.22-19.8400.00011.513.14
2021 (8)16.0220.6310.6825.942.49-19.8210.0720.318.0322.4116.1539.18.8745.171.0721.5912.908.0489.491.99106.085.03-6.0800.00011.16-8.37
2020 (7)13.2832.678.4860.03.100.088.3765.746.5664.4111.6160.586.1164.250.884.7611.9436.4687.74-23.49101.00-3.77-1.0000.00012.186.84
2019 (6)10.01-30.055.30-39.53.106.685.05-43.583.99-44.127.23-49.933.72-47.830.84-11.588.75-29.26114.68-1.31104.967.22-4.9600.00011.401.88
2018 (5)14.31-10.628.76-15.362.90-5.328.95-10.57.14-9.6214.44-10.927.13-9.630.950.012.37-9.24116.204.6897.89-5.782.1100.00011.190.54
2017 (4)16.010.1310.358.833.07-17.0210.003.957.900.2516.213.987.897.490.957.9513.63-2.36111.00-8.65103.894.84-3.5000.00011.13-2.45
2016 (3)15.9936.099.5187.23.70-10.19.62102.537.88109.0215.59105.47.3499.460.884.7613.9644.66121.51-6.699.10-7.861.3600.00011.413.73
2015 (2)11.75-5.325.08-24.074.1125.174.75-27.813.77-31.957.59-45.593.68-36.770.84-11.589.65-8.88130.09-12.73107.555.76-6.6000.00011.0016.65
2014 (1)12.4106.6903.284.936.5805.54013.9505.8200.950.010.5922.71149.07-17.83101.69-12.34-1.6900.0009.436.07

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