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)32.35113.53227.7120.737248.28141.3919.86228.81141.5319.86228.81141.533.96308.25189.393.29301.22191.390.1623.08100.031.3143.69406.9620.77-5.2-9.46100.000-4.17-5.00-105.0-15.039.28-15.92-44.7
23Q3 (19)15.1560.32576.34-0.2996.0698.116.04366.08192.926.04366.08192.920.97412.9224.360.82472.73234.430.1318.1830.021.7932.71.1621.91-4.114.280.00-100.0-100.0100.00166.67166.6746.72-7.49-14.59
23Q2 (18)9.45204.88-46.28-7.3675.32-331.45-2.2791.59-125.0-2.2791.59-125.0-0.3189.27-125.2-0.2290.6-121.360.1122.220.016.420-53.2722.857.08-1.25250.00118.75775.0-150.00-950.0-362.550.50-18.892.79
23Q1 (17)-9.0164.43-171.34-29.8240.46-1664.5-26.9843.58-930.15-26.9843.58-930.15-2.8934.76-714.89-2.3435.0-670.730.0912.5-25.00.00100.0-100.021.34-6.97-13.25114.299.52442.86-14.29-228.57-110.7162.26-12.3530.25
22Q4 (16)-25.33-1230.8-226.33-50.08-226.04-709.99-47.82-635.69-575.82-47.82-635.69-575.82-4.43-467.95-362.13-3.60-490.16-364.710.08-20.0-38.46-10.20-147.35-131.2822.949.19-17.36104.35-58.2617.39-4.3597.1-119.5771.0329.8569.36
22Q3 (15)2.24-87.27-91.44-15.36-583.02-204.07-6.50-171.59-138.74-6.50-171.59-138.74-0.78-163.41-125.83-0.61-159.22-125.420.10-9.09-28.5721.54-38.7-42.5621.01-9.2-23.15250.00775.0185.71-150.00-362.5-1300.054.7011.3437.58
22Q2 (14)17.5939.27-27.793.18288.17-75.899.08179.38-37.129.08179.38-37.161.23161.7-54.281.03151.22-52.090.11-8.33-26.6735.1422.233.2923.14-5.93-19.6528.57185.71-69.2357.14-57.14700.049.132.7823.23
22Q1 (13)12.63-37.01-55.36-1.69-120.58-108.633.25-67.66-84.553.25-67.66-84.550.47-72.19-88.940.41-69.85-87.720.12-7.69-25.028.75-11.84-27.424.60-11.38-6.85-33.33-137.5-135.0133.33500.02700.047.8013.9728.56
21Q4 (12)20.05-23.39-16.328.21-44.38-42.7510.05-40.11-33.3610.05-40.11-33.361.69-44.04-46.521.36-43.33-45.380.13-7.14-18.7532.61-13.042.9427.761.54-11.5988.891.59-4.7622.2277.78233.3341.945.4818.51
21Q3 (11)26.177.4332.114.7611.928.816.7816.238.2216.7816.1238.223.0212.278.632.4011.636.670.14-6.67-22.2237.5010.2329.4427.34-5.072.0587.50-5.77-5.2112.5075.062.539.76-0.2826.34
21Q2 (10)24.36-13.895.3613.19-32.643.3714.44-31.343.5914.45-31.293.662.69-36.7112.552.15-35.6310.260.15-6.257.1434.02-14.09-11.5428.809.0513.5692.86-2.52.147.1450.0-21.4339.877.24-1.92
21Q1 (9)28.2918.07118.9619.5836.5417700.021.0339.46360.1821.0339.46360.184.2534.49534.333.3434.14456.670.160.033.3339.6025.018.8126.41-15.89-2.5195.242.0404.76-28.57-95.2437.185.06-21.48
20Q4 (8)23.9620.951729.0114.3425.13238.1515.0824.22262.8515.0824.22262.853.1613.67354.842.4910.67364.890.16-11.1145.4531.689.3526.7231.4017.2134.4893.331.11-6.676.67-13.33140.035.3912.46-28.68
20Q3 (7)19.81-14.322851.3911.46-10.19182.8612.14-12.91222.512.14-12.91222.52.7816.32324.192.2515.38341.940.1828.5780.028.97-24.6710.0726.795.6415.1392.311.54-30.777.69-15.38123.0831.47-22.58-38.56
20Q2 (6)23.1278.95431.7112.7611500.0157.6913.94205.03174.4713.94205.03174.832.39256.72216.021.95225.0223.420.1416.6755.5638.4615.3978.325.36-6.391.690.910-17.369.09-90.91145.4540.65-14.15-26.76
20Q1 (5)12.92886.26161.850.11101.06100.264.57149.35111.334.57149.35111.330.67154.03118.460.60163.83119.80.129.0950.033.3333.32258.3927.0916.0213.060.00-100.0-100.0100.00700.01800.047.35-4.57-28.3
19Q4 (4)1.31281.940.0-10.3824.950.0-9.266.560.0-9.266.560.0-1.240.00.0-0.94-1.080.00.1110.00.025.00-5.020.023.350.340.0100.00-25.00.0-16.6750.00.049.62-3.120.0
19Q3 (3)-0.7289.670.0-13.8337.480.0-9.9147.060.0-9.9146.810.0-1.2439.810.0-0.9341.140.00.1011.110.026.3222.020.023.27-6.770.0133.3321.210.0-33.33-66.670.051.22-7.710.0
19Q2 (2)-6.9766.630.0-22.1247.070.0-18.7253.570.0-18.6353.790.0-2.0643.250.0-1.5847.850.00.0912.50.021.57131.940.024.964.170.0110.003.890.0-20.00-240.00.055.50-15.960.0
19Q1 (1)-20.890.00.0-41.790.00.0-40.320.00.0-40.320.00.0-3.630.00.0-3.030.00.00.080.00.09.300.00.023.960.00.0105.880.00.0-5.880.00.066.040.00.0
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)15.23232.53-0.21016.44-40.672.8202.8201.6501.4700.4820.019.46-8.8520.77-9.46-12.500112.5000.00047.89-11.43
2022 (9)4.58-81.55-12.45027.7238.58-6.780-6.780-3.410-2.5800.40-29.8221.35-40.4322.94-17.36183.33107.1-83.3300.00054.0736.44
2021 (8)24.8221.3714.0734.6420.00-0.8515.7131.2415.7131.2411.6529.599.1526.210.57-3.3935.849.727.76-11.5988.520.499.84-17.380.00039.635.4
2020 (7)20.45010.45020.17-46.811.97011.9708.9907.2500.5951.2832.6756.6931.4034.4888.10-22.1511.9000.00037.60-31.39
2019 (6)-5.740-20.52037.9119.96-18.020-18.000-8.160-6.7500.3914.7120.85402.4123.35175.68113.1611.14-13.1600.00054.80-3.01
2018 (5)-11.000-29.01031.616.03-28.370-28.330-10.590-9.5200.343.034.15-62.488.47-8.33101.82-5.45-1.8200.00056.50-7.12
2017 (4)-2.610-20.38029.81-24.77-18.940-18.810-6.950-6.3000.3343.4811.06338.899.24-19.23107.69-12.96-7.6900.00060.83-10.52
2016 (3)-25.360-46.01039.62-18.28-37.020-36.840-9.460-8.6500.2327.782.52011.4448.38123.7313.54-23.7300.00067.985.74
2015 (2)-40.140-64.36048.489.28-58.970-58.970-11.360-10.5800.180.0-10.6107.717.83108.976.7-8.9700.00064.29-6.31
2014 (1)-35.520-67.73044.3717.8-65.990-65.990-12.180-11.6200.185.88-21.1307.15150.88102.13-33.22-2.1300.00068.6241.75

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