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)14.490.761.98.01-7.187.097.87-17.165.926.26-17.855.035.63-26.02-0.881.99-20.723.110.32-3.030.08.08-18.712.02186.443.73-8.11102.2212.841.39-1.48-115.74-80.740.00-100.0-100.0
23Q3 (19)14.3824.398.048.6314.4616.319.5018.317.837.6223.18.097.61-0.13-25.392.51-3.83-12.240.33-21.43-19.519.9418.477.46179.74-21.05-4.4490.59-3.487.789.4153.16-41.06.454.37-10.79
23Q2 (18)11.56-22.83-1.287.54-6.9135.378.03-1.4740.386.19-6.0737.257.6217.59-22.322.6112.9917.040.4220.0-14.298.39-1.9936.87227.6542.16-40.7993.85-5.51-2.856.15809.5141.716.18-2.831.48
23Q1 (17)14.985.340.948.108.29-7.328.159.69-7.76.5910.57-6.666.4814.08-47.42.3119.69-19.230.359.37-12.58.568.08-8.15160.14-21.07-46.6999.32-1.480.710.68182.43-2.036.36-18.36-12.28
22Q4 (16)14.226.84-12.877.480.81-20.07.43-15.66-21.385.96-15.46-14.05.68-44.31-54.231.93-32.52-28.250.32-21.95-17.957.92-14.38-20.48202.897.86-44.69100.8219.951.53-0.82-105.14-216.397.797.759.72
22Q3 (15)13.3113.6624.987.4233.2173.778.8154.0296.217.0556.3290.5410.203.9836.912.8628.2585.710.41-16.33-2.389.2550.985.74188.10-51.07-47.1984.05-13.0-10.8615.95527.4272.197.2318.72-0.28
22Q2 (14)11.71-21.0927.565.57-36.2748.535.72-35.2254.594.51-36.1252.889.81-20.3749.772.23-22.0358.160.4922.52.086.13-34.2349.51384.4527.98-7.2296.61-2.04-4.882.54268.64262.716.09-16.0-13.37
22Q1 (13)14.84-9.0718.828.74-6.5237.218.83-6.5638.847.061.8840.9212.32-0.7335.682.866.3237.50.402.56-4.769.32-6.4336.06300.39-18.11-5.6798.62-0.68-1.380.69-2.0707.252.11-0.68
21Q4 (12)16.3253.2417.079.35118.9744.519.45110.4756.726.9387.345.2812.4166.58-37.612.6974.68-36.560.39-7.14-56.189.96100.052.53366.802.983.499.305.31-7.290.70-83.57109.927.10-2.07-21.37
21Q3 (11)10.6516.0104.2713.8704.4921.3503.7025.4207.4513.7401.549.2200.42-12.504.9821.460356.19-14.04094.29-7.1604.29374.2907.253.130
21Q2 (10)9.18-26.5-16.473.75-41.13-17.943.70-41.82-19.912.95-41.12-20.916.55-27.86-59.341.41-32.21-56.350.4814.29-44.194.10-40.15-20.85414.3730.120.83101.561.562.41-1.560-289.067.03-3.7-10.79
21Q1 (9)12.49-10.406.37-1.5506.365.4705.015.0309.08-54.3502.08-50.9400.42-52.8106.854.90318.44-10.230100.00-6.6300.00100.007.30-19.160
20Q4 (8)13.94018.446.470102.826.030113.074.770120.8319.89096.354.240118.560.8900.06.53097.28354.730-8.52107.100-5.42-7.10046.359.0307.12
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)13.722.318.0411.510.26-20.658.379.996.649.2126.79-18.39.10-0.981.37-9.278.717.93186.44-8.1196.041.423.96-25.390.05-28.040.000
2022 (9)13.4111.387.2123.460.33-13.717.6128.986.0833.0432.79-5.89.1921.721.51-8.488.0726.49202.89-44.6994.70-4.265.30385.10.07-49.037.04-1.68
2021 (8)12.04-3.765.845.230.39-15.995.9010.284.577.0334.810.937.552.581.65-4.076.388.5366.803.498.91-4.711.0900.15-1.17.16-15.47
2020 (7)12.5120.45.5567.670.4622.695.3567.194.2773.5834.4950.947.3668.041.72-2.825.8861.1354.73-8.52103.790.53-3.7900.15-14.458.472.29
2019 (6)10.395.913.3111.450.38776.363.206.312.46-13.6822.85-15.284.38-26.391.77-14.083.6516.61387.77-18.15103.253.99-3.2500.1708.28-0.48
2018 (5)9.81-7.192.9799.330.04-5.953.01122.962.85231.426.9705.9502.0603.13111.49473.7775.9499.29-11.240.7100.0008.32-21.8
2017 (4)10.5701.4900.0501.3500.8600.0000.0000.0001.480269.280111.860-10.1700.00010.640

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