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)-362.71-1272.68-1367.33-663.64-2250.49-2726.2-692.57-371.33-3263.86-680.64-393.29-3841.84-30.7357.16-347.22-11.5070.12-279.970.02-92.86-94.29-622.22-341.6-2463.16197.3342.29100.0995.98556.14-16.894.02-96.68125.93291.6947718.031632.13
23Q3 (19)30.9346.5957.5630.8676.2498.46-146.94-851.23-785.67-137.98-990.77-904.55-71.73-855.05-682.7-38.49-853.23-735.150.28-15.15-20.0-140.90-691.02-643.39138.68128.4345.78-21.04-123.55-128.92120.951038.03336.280.61-96.32-96.71
23Q2 (18)21.10-15.33-1.5917.51-17.48-1.5719.56-3.17-4.0715.49-3.85-6.469.50-5.0-22.265.115.8-17.310.3310.0-10.8123.84-3.48-3.9160.71-50.41-47.4289.37-14.882.1410.63312.56-14.9816.56-7.02-27.62
23Q1 (17)24.92-12.9338.621.22-16.0360.0320.20-7.7229.6516.11-11.4329.2910.00-19.5530.554.83-24.4117.80.30-14.29-9.0924.70-6.1918.24122.4224.1351.01105.00-9.0823.79-5.0067.71-132.9417.815.76-15.11
22Q4 (16)28.6245.861.625.2762.51100.421.892.1577.8218.196.0671.9312.430.9771.926.395.4571.770.350.00.026.331.5452.4698.623.673.45115.4958.713.0-15.49-155.86-604.6516.84-9.27-22.0
22Q3 (15)19.63-8.447.3315.55-12.5914.9321.435.156.6517.153.5656.6212.310.7459.876.06-1.9454.990.35-5.410.025.934.5139.1195.13-17.61-1.7872.77-16.83-26.4727.72121.782589.1118.56-18.880.87
22Q2 (14)21.4419.2432.0217.7934.1662.1720.3930.8773.3816.5632.9175.9812.2259.5398.066.1850.7397.440.3712.1212.1224.8118.7642.91115.4742.4313.2887.503.16-6.1612.50-17.6585.022.889.0630.0
22Q1 (13)17.981.5261.2613.265.15114.5615.5826.56199.6212.4617.77203.167.665.95228.764.1010.22238.840.33-5.7117.8620.8920.9676.4481.07-14.96-17.6384.82-17.0-28.0315.18790.62185.020.98-2.8310.25
21Q4 (12)17.71-3.17-3.4412.61-6.87.512.31-10.0135.4210.58-3.3834.437.23-6.162.113.72-4.8664.60.350.025.017.27-7.358.0795.33-1.57-9.49102.203.26-19.95-2.20-313.1992.6221.5917.3416.01
21Q3 (11)18.2912.6218.5413.5323.3423.1113.6816.3330.7810.9516.3727.337.7024.882.033.9124.9277.730.356.0640.018.647.370.7696.85-4.98-2.0998.976.14-5.241.03-84.74123.218.404.55-3.66
21Q2 (10)16.2445.65339.1810.9777.51171.8911.76126.15201.479.41128.95311.946.17164.81618.493.13158.68701.920.3317.86153.8517.3646.62726.67101.933.576.7793.24-20.88-27.486.76137.84121.0217.60-7.510
21Q1 (9)11.15-39.238.06.18-47.31175.895.20-42.7989.784.11-47.7887.672.33-47.76140.211.21-46.46124.070.280.021.7411.84-25.9115.0698.42-6.56-10.97117.86-7.6844.05-17.8640.05-198.2119.032.26-13.18
20Q4 (8)18.3418.8661.4411.736.7387.989.09-13.1107.067.87-8.49104.424.465.44123.02.262.7385.250.2812.0-9.6815.98-13.6250.47105.336.4847.19127.6622.23-7.56-29.79-570.2130.518.61-2.571.97
20Q3 (7)15.43327.25-10.2910.99172.02-5.510.46190.25-8.738.60293.69-6.114.23455.46-12.962.20523.08-22.260.2592.31-16.6718.50780.956.298.923.6149.29104.44-18.772.51-4.4486.17-135.5619.1002.19
20Q2 (6)-6.79-184.03-141.4-15.26-781.25-254.77-11.59-522.99-202.2-4.44-302.74-152.61-1.19-222.68-126.39-0.52-196.3-120.00.13-43.48-58.062.10-79.59-87.3295.47-13.6415.74128.5757.1448.57-32.14-276.79-338.780.00-100.0-100.0
20Q1 (5)8.08-28.87-38.932.24-64.1-70.372.74-37.59-65.182.19-43.12-68.980.97-51.5-72.210.54-55.74-75.680.23-25.81-25.8110.29-3.11-25.86110.5554.4966.2781.82-40.75-15.6218.18142.42500.021.9220.1118.1
19Q4 (4)11.36-33.950.06.24-46.350.04.39-61.690.03.85-57.970.02.00-58.850.01.22-56.890.00.313.330.010.62-39.040.071.568.00.0138.1035.540.0-42.86-2171.430.018.25-2.350.0
19Q3 (3)17.204.880.011.6317.950.011.461.060.09.168.530.04.867.760.02.838.850.00.30-3.230.017.425.190.066.26-19.680.0101.8917.740.0-1.89-114.020.018.691.030.0
19Q2 (2)16.4023.960.09.8630.420.011.3444.090.08.4419.550.04.5129.230.02.6017.120.00.310.00.016.5619.310.082.4924.060.086.54-10.760.013.46344.230.018.50-0.320.0
19Q1 (1)13.230.00.07.560.00.07.870.00.07.060.00.03.490.00.02.220.00.00.310.00.013.880.00.066.490.00.096.970.00.03.030.00.018.560.00.0
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)20.09-10.0713.58-26.45.1916.76-32.590-33.080-80.860-35.1901.07-19.55-26.960197.33100.09-41.700141.701581.850.00016.37-16.61
2022 (9)22.3438.0718.4565.324.45-15.3520.1381.3516.3680.1842.8285.2921.8786.291.334.7224.7649.5298.623.4591.71-8.68.4300.03-32.119.632.03
2021 (8)16.1845.1111.16121.435.25-35.3811.10135.179.0890.7623.11182.5211.74158.021.2739.5616.5625.7495.33-9.49100.34-5.93-0.3400.05-56.6319.24-8.42
2020 (7)11.15-23.475.04-43.058.1344.484.72-46.124.76-33.158.18-44.584.55-50.810.91-28.9113.17-9.55105.3347.19106.676.0-6.6700.1165.5321.0113.57
2019 (6)14.5731.388.8569.545.63-0.068.7650.777.1239.3314.7646.579.2529.921.28-7.9114.5627.1671.5640.7100.6311.54-0.6300.06-60.2518.506.94
2018 (5)11.0939.55.22141.675.63-4.435.81453.335.11674.2410.07725.417.12641.671.39-4.1411.4562.6450.8662.2390.22-57.719.7800.16017.309.29
2017 (4)7.95-52.022.16-78.055.89-8.431.05-89.090.66-91.811.22-91.130.96-91.421.454.327.04-57.7731.3529.76213.33108.59-106.6700.00015.83-20.01
2016 (3)16.57-5.699.84-6.26.43-11.889.62-14.188.06-18.1713.76-21.2811.19-16.741.392.9616.67-14.0324.1611.8102.279.14-2.2700.00019.790.92
2015 (2)17.5762.0810.49295.857.30-18.2911.21293.339.85364.6217.48357.5913.44392.311.3521.6219.3946.6721.61-49.4593.710.176.29-2.450.00019.61-0.81
2014 (1)10.8402.6508.9313.722.8502.1203.8202.7301.11-1.7713.22-15.4242.75-50.8393.55-11.256.4500.00019.7714.21

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