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)14.942.1215.554.77-12.4813.572.66-65.369.021.79-49.15-5.290.79-52.12-5.950.57-44.66-3.390.24-4.00.07.50-39.029.3380.30-4.733.57176.47150.03.45-79.41-370.0-12.515.1123.0522.85
23Q3 (19)14.633.475.865.4519.0-2.157.68-9.11-7.023.52-53.32-45.61.65-51.61-51.91.03-46.35-44.620.254.17-7.4112.30-6.322.8484.29-2.54-3.170.5929.015.4929.41-36.37-9.0312.28-12.855.77
23Q2 (18)14.1416.0-22.224.5864.75-56.138.45216.48-35.57.54561.4-26.373.41582.0-42.51.92405.26-36.00.240.0-14.2913.1377.43-20.8686.49-6.87-19.6954.72-48.32-31.646.231671.7126.014.093.0727.28
23Q1 (17)12.19-5.72-20.122.78-33.81-62.682.679.43-69.661.14-39.68-84.030.50-40.48-87.080.38-35.59-81.990.240.0-14.297.407.87-40.4292.8719.79-7.32105.88-37.9325.46-2.9495.83-118.8513.6711.1418.46
22Q4 (16)12.93-6.44-27.934.20-24.6-50.352.44-70.46-69.541.89-70.79-69.370.84-75.51-74.70.59-68.28-68.620.24-11.11-17.246.86-42.64-40.7177.53-10.87-5.68170.59154.9260.7-70.59-318.33-1210.9212.305.94-0.08
22Q3 (15)13.82-23.98-11.865.57-46.65-33.298.26-36.95-5.066.47-36.82-5.133.43-42.16-17.551.86-38.0-11.00.27-3.57-6.911.96-27.91-2.9286.99-19.222.2766.92-16.35-30.1132.3358.06659.7711.614.885.55
22Q2 (14)18.1819.13-7.3410.4440.13-17.0113.1048.8615.3210.2443.4215.195.9353.23-7.923.0042.189.490.280.0-6.6716.5933.5710.53107.697.48-22.7980.00-5.21-27.7720.4531.1290.2311.07-4.072.12
22Q1 (13)15.26-14.94-12.57.45-11.94-21.418.809.86-11.297.1415.72-7.873.8716.57-21.822.1112.23-3.210.28-3.453.712.427.35-11.16100.2021.9-33.7784.40-20.5-11.9315.60389.77274.4711.54-6.26-1.28
21Q4 (12)17.9414.413.168.461.32-9.628.01-7.9317.796.17-9.5319.113.32-20.1915.681.88-10.0537.230.290.020.8311.57-6.091.8582.20-3.36-36.31106.1510.87-23.04-5.38-226.5485.812.3111.91-2.76
21Q3 (11)15.68-20.082.958.35-33.6250.998.70-23.42219.856.82-23.28237.624.16-35.4362.222.09-23.72326.530.29-3.3352.6312.32-17.9246.1485.06-39.02-34.8195.74-13.55-53.04.26139.57104.111.001.48-29.53
21Q2 (10)19.6212.549.212.5832.7227.611.3614.52277.418.8914.71238.026.4430.1387.882.7425.69315.150.3011.1136.3615.017.3786.46139.48-7.817.84110.7515.57-12.98-10.75-358.0660.5710.84-7.27-24.83
21Q1 (9)17.440.2957.979.481.28989.669.9245.88416.677.7549.61445.774.9572.47738.982.1859.12473.680.2712.542.1113.9823.0680.85151.3017.2310.6495.83-30.52127.64.17110.98-92.0811.69-7.66-29.32
20Q4 (8)17.3914.1811.769.3669.2665.376.80150.0109.235.18156.44208.332.87218.89272.731.37179.59185.420.2426.329.0911.3634.7633.18129.06-1.0920.44137.93-32.29-21.18-37.9363.4249.4312.66-18.90
20Q3 (7)15.2315.825.475.5344.0119.962.72-9.63-46.032.02-23.19-57.920.90-31.82-61.540.49-25.76-59.50.19-13.64-13.648.434.72-19.25130.480.8826.74203.7060.05119.37-103.70-280.25-1261.4815.618.2511.5
20Q2 (6)13.1519.11-26.123.84341.38-45.453.0156.77-60.862.6385.21-65.621.32123.73-65.170.6673.68-64.320.2215.790.08.054.14-38.6129.34-5.42-3.55127.27202.2738.55-27.27-151.82-435.0614.42-12.82-4.06
20Q1 (5)11.04-29.05-30.040.87-84.63-86.531.92-40.92-65.841.42-15.48-73.90.59-23.38-77.220.38-20.83-72.260.19-13.64-13.647.73-9.38-29.66136.7527.6123.3242.11-75.94-63.2352.63170.18462.5716.54011.01
19Q4 (4)15.567.760.05.6622.780.03.25-35.520.01.68-65.00.00.77-67.090.00.48-60.330.00.220.00.08.53-18.30.0107.164.090.0175.0088.460.0-75.00-940.00.00.00-100.00.0
19Q3 (3)14.44-18.880.04.61-34.520.05.04-34.460.04.80-37.250.02.34-38.260.01.21-34.590.00.220.00.010.44-20.370.0102.95-23.230.092.861.080.08.939.690.014.00-6.850.0
19Q2 (2)17.8012.80.07.048.980.07.6936.830.07.6540.620.03.7946.330.01.8535.040.00.220.00.013.1119.290.0134.1020.930.091.86-19.780.08.14156.070.015.030.870.0
19Q1 (1)15.780.00.06.460.00.05.620.00.05.440.00.02.590.00.01.370.00.00.220.00.010.990.00.0110.890.00.0114.520.00.0-14.520.00.014.900.00.0
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)13.98-7.784.40-37.594.0122.855.38-36.033.48-47.595.97-55.653.85-51.390.96-15.0410.09-17.2380.303.5781.88-2.1818.1212.530.0660.4113.7718.71
2022 (9)15.16-14.257.05-27.543.270.928.41-11.386.64-10.2713.46-22.067.92-11.311.13-1.7412.19-7.6577.53-5.6883.71-18.3316.1000.04-32.4411.601.31
2021 (8)17.6822.789.7387.483.24-28.29.49148.437.40149.1617.27220.418.93209.01.1538.5513.2046.3482.20-36.31102.50-24.72-2.5000.05-42.3511.45-21.84
2020 (7)14.40-9.435.19-12.634.51-0.493.82-29.262.97-39.265.39-42.172.89-41.50.83-7.789.02-16.25129.0620.44136.1423.81-36.1400.09-21.7914.65-3.87
2019 (6)15.90-11.815.94-35.224.5326.095.40-41.184.89-35.669.32-47.554.94-45.350.90-19.6410.77-20.1107.16-8.87109.9610.2-9.9600.12-3.5815.2413.9
2018 (5)18.03-10.799.17-16.563.59-10.529.18-7.467.60-13.0417.77-1.449.04-12.741.120.013.48-7.92117.5917.0999.78-10.00.2200.12013.38-7.08
2017 (4)20.218.9510.9941.264.02-34.519.9216.028.7427.0318.0389.3910.3665.231.1234.9414.64-5.91100.4358.38110.8721.96-10.8700.00014.401.55
2016 (3)18.556.247.78-9.016.137.588.55-7.976.88-7.659.52-10.536.27-6.560.831.2215.56-2.263.41-10.790.91-1.599.0912.30.00014.1811.57
2015 (2)17.46-4.128.55-15.015.7024.929.29-15.07.45-9.3710.64-31.136.71-26.430.82-21.915.91-1.3671.01-8.7292.380.328.102.290.00012.7119.79
2014 (1)18.21010.0604.565.9310.9308.22015.4509.1201.05-16.016.1350.8977.79-5.3692.09-5.37.91186.870.00010.6121.67

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