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)34.5613.7628.2411.9281.71198.751.11-93.24183.460.95-92.78164.630.16-95.0135.560.15-93.72400.00.14-22.22-6.673.51-80.6911.4315.40-48.18-83.811400.003400.0660.0-1200.00-2100.0-442.8618.0524.0574.56
23Q3 (19)30.38-12.02-6.296.56-35.11-45.2916.4316.36-18.0513.162.97-16.53.20-20.4-52.522.39-16.43-29.50.18-14.29-10.018.1810.99-21.8429.72-30.56-72.7940.00-44.44-35.2460.00114.2945.7114.5514.0312.27
23Q2 (18)34.53-3.0616.310.11953.12-24.0414.122514.81-5.8712.785709.09-3.334.029950.0-43.462.861044.0-20.330.2175.0-16.016.38218.06-6.2942.80-15.31-64.4372.00-28.0-17.3328.000189.3312.76-33.3718.92
23Q1 (17)35.6232.1740.790.96-75.9400.54140.6-85.90.22114.97-92.440.04108.89-96.670.25733.33-70.240.12-20.0-36.845.1563.49-29.7450.54-46.87-53.13100.00140.000.00-100.0-100.019.1585.24.99
22Q4 (16)26.95-16.87-4.573.99-66.72-63.23-1.33-106.63-117.32-1.47-109.33-125.83-0.45-106.68-115.730.03-99.12-98.330.15-25.0-46.433.15-86.46-68.8795.13-12.92-18.88-250.00-504.76-280.56350.00750.01010.010.34-20.224.55
22Q3 (15)32.429.2-11.2311.99-9.922.8320.0533.6770.3515.7619.2167.486.74-5.276.443.39-5.5731.40.20-20.0-25.9323.2633.0765.43109.24-9.2142.1661.76-29.08-38.2441.18325.49012.9620.78-25.47
22Q2 (14)29.6917.35-14.6313.31018.115.00291.6469.1113.22354.357.017.11492.584.23.59327.3834.960.2531.58-19.3517.48138.4756.21120.3111.56126.3287.100-29.239.68-90.32141.9410.73-41.17-22.81
22Q1 (13)25.30-10.41-23.050.00-100.0-100.03.83-50.13-15.452.91-48.86-19.831.20-58.04-6.980.84-53.33-14.290.19-32.14-26.927.33-27.571.66107.84-8.04167.530.00-100.0-100.0100.00360.0600.018.2484.435.13
21Q4 (12)28.24-22.67-21.4510.85-6.95-4.247.68-34.75-12.835.69-39.53-17.422.86-25.1316.731.80-30.23-5.260.283.73.710.12-28.02-15.17117.27159.96298.07138.4638.4615.38-38.460-28.219.89-43.13-31.13
21Q3 (11)36.525.05.1811.663.46-12.5311.7732.69-3.219.4111.76-3.293.82-1.04-8.392.58-3.01-18.10.27-12.9-15.6214.0625.65-4.5545.11-15.1446.75100.00-18.75-5.880.00100.0100.017.3925.1125.2
21Q2 (10)34.785.7810.2711.27114.67531.88.8795.81658.128.42131.9677.643.86199.22244.642.66171.43212.940.3119.2372.2211.1955.2106.8453.1631.8846.08123.082.56161.54-23.08-15.38-107.6913.90-19.880
21Q1 (9)32.88-8.547.245.25-53.66556.254.53-48.58362.243.63-47.31365.381.29-47.35437.50.98-48.42415.790.26-3.78.337.21-39.5678.4740.3136.8326.48120.000.020.0-20.0033.33017.3520.82-1.76
20Q4 (8)35.953.544.0211.33-15.0223.718.81-27.55198.226.89-29.19195.962.45-41.25216.111.90-39.68220.250.27-15.6222.7311.93-19.01328.9829.46-4.1616.95120.0012.94460.0-30.00-140.0-122.514.363.38-0.42
20Q3 (7)34.7210.0815.1613.33610.73267.2212.16939.32253.499.73105.27253.824.17272.32253.393.15270.59275.00.3277.786.6714.73172.27159.7930.74-15.53-23.65106.25153.126.25-12.50-104.17013.8909.72
20Q2 (6)31.542.87-3.96-2.61-426.25-123.321.1719.39-89.814.74507.69-53.711.12366.67-80.140.85347.37-78.80.18-25.0-53.855.4133.91-60.436.3914.18-16.42-200.00-300.0-310.0300.0006200.00.00-100.0-100.0
20Q1 (5)30.66-11.286.640.80-77.14-86.620.98110.93-84.270.78110.86-84.370.24111.37-90.080.19112.03-89.560.249.09-33.334.04177.54-53.5631.8726.52-17.2100.00400.00.00.00-100.0017.6622.4754.78
19Q4 (4)34.5614.630.03.50-3.580.0-8.97-360.760.0-7.18-361.090.0-2.11-278.810.0-1.58-288.10.00.22-26.670.0-5.21-191.890.025.19-37.430.0-33.33-133.330.0133.3300.014.4213.90.0
19Q3 (3)30.15-8.190.03.63-67.560.03.44-70.030.02.75-73.140.01.18-79.080.00.84-79.050.00.30-23.080.05.67-58.490.040.26-7.530.0100.005.00.0-0.00-100.00.012.6619.890.0
19Q2 (2)32.8414.230.011.1987.120.011.4884.270.010.24105.210.05.64133.060.04.01120.330.00.398.330.013.6657.010.043.5413.120.095.24-4.760.04.7600.010.56-7.450.0
19Q1 (1)28.750.00.05.980.00.06.230.00.04.990.00.02.420.00.01.820.00.00.360.00.08.700.00.038.490.00.0100.000.00.00.000.00.011.410.00.0
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)33.5516.217.85-3.211.668.69.62-9.338.16-5.998.18-45.616.04-28.270.69-17.8612.36-11.1415.40-83.8182.697.6619.23-17.070.262.1915.5219.75
2022 (9)28.87-11.988.11-18.981.53-15.7510.6127.838.6826.7215.0431.128.4223.460.84-11.5813.9129.8895.13-18.8876.81-35.7623.1900.2589.9412.96-8.67
2021 (8)32.80-2.0910.0144.651.81-25.418.3025.766.8515.7111.4749.356.8211.80.95-6.8610.7110.07117.27298.07119.5715.3-19.5700.13-73.4414.19-14.62
2020 (7)33.506.896.924.372.4328.516.6041.035.9245.17.685.796.105.721.02-27.149.7337.8229.4616.95103.70-28.21-3.7000.50-49.3816.6239.2
2019 (6)31.34-0.256.63-2.361.89140.454.68-39.34.08-34.937.26-27.985.77-28.771.408.537.06-20.3225.19-12.14144.4465.69-40.7400.99-16.8511.94-14.35
2018 (5)31.422.186.7923.910.7934.657.71106.156.27100.3210.0896.118.1095.651.29-2.278.8689.3228.6744.3687.18-40.8412.8201.18013.944.58
2017 (4)30.75-25.025.48-51.930.58-20.273.74-66.793.13-66.635.14-55.84.14-55.291.3233.334.68-61.719.86-28.69147.3744.23-47.3700.00013.33-18.72
2016 (3)41.01-11.7911.40-9.810.73-44.811.26-22.619.38-22.2911.63-15.729.26-13.380.9911.2412.22-23.3927.8517.91102.1718.31-2.1700.00016.40-15.77
2015 (2)46.49-0.8712.6414.71.336.3114.5513.3212.0712.813.80-14.5510.69-6.470.89-16.8215.959.423.62-39.6186.362.9713.645.680.00019.47-5.85
2014 (1)46.90011.0201.25-31.2512.84010.70016.15011.4301.07-10.8314.58118.5939.11-12.4383.87-2.1512.90-9.680.00020.68-11.89

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