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)14.16315.85253.128.74163.84317.961.51-90.44-90.572.40-78.69-85.350.17-73.02-84.110.13-75.47-84.340.0525.00.05.70-75.1-73.730.9812.29-17.14550.00738.972252.17-460.00-347.21-466.375.58-20.17-31.95
23Q3 (19)-6.56-141.13-159.15-13.69-243.5-548.8515.7921.9330.7111.265.833.40.63-14.863.280.53-11.676.00.04-20.00.022.8921.3724.6127.59-31.11-12.11-86.08-216.71-432.83186.08608.86150.996.9919.285.91
23Q2 (18)15.9572.251001.139.54268.34172.5512.95250.0159.8710.64190.71151.530.74236.36200.00.60160.87209.090.0525.066.6718.8677.76261.8940.054.2229.9973.755.3620.5226.25-12.5-32.365.86-0.85-23.3
23Q1 (17)9.26130.92-19.622.59164.59-33.073.70-76.9-42.643.66-77.66-41.250.22-79.44-31.250.23-72.29-17.860.04-20.00.010.61-51.04-16.0638.432.7842.2870.00373.9119.4130.00-76.11-20.915.91-27.93-10.59
22Q4 (16)4.01-63.84-60.49-4.01-231.48-257.2516.0232.62290.7316.3850.41353.741.0775.41409.520.8366.0336.840.0525.00.021.6717.96153.4537.3919.1144.92-25.56-198.81-141.28125.5669.35229.588.2024.2422.57
22Q3 (15)11.09726.551067.373.05123.19144.1412.08155.85-34.3510.89152.74-41.550.61182.43-30.680.50190.91-32.430.0433.330.018.37257.68-21.7331.391.8841.7225.86-57.74169.2774.1491.05-46.026.60-13.61-6.52
22Q2 (14)-1.77-115.36-117.86-13.15-439.79-393.53-21.63-435.35-455.17-20.65-431.46-546.0-0.74-331.25-355.17-0.55-296.43-303.70.03-25.0-40.0-11.65-192.17-216.0430.8114.0732.2961.194.39-19.2238.812.3142.297.6415.5871.3
22Q1 (13)11.5213.576.153.8751.76422.976.4557.3225.06.2372.5869.750.3252.3888.240.2847.3775.00.04-20.00.012.6447.8422.2427.014.6974.4858.62-5.31290.837.93-0.43-55.386.61-1.216.58
21Q4 (12)10.15968.4263.182.55136.94350.04.10-77.7292.493.61-80.6210.060.21-76.1423.530.19-74.3211.760.0525.00.08.55-63.5725.1825.8016.4867.5361.90265.82038.10-72.26-61.96.69-5.2415.34
21Q3 (11)0.95-90.41-81.34-6.91-254.24-259.918.40202.13300.8718.63302.38193.850.88203.45214.290.74174.07184.620.04-20.00.023.47133.76126.7622.15-4.8965.3-37.33-149.289.33137.33403.56-2.727.0658.312.78
21Q2 (10)9.9151.53225.994.48505.41261.156.0918.02110.04.6326.1681.570.2970.59141.670.2768.75125.00.0525.025.010.04-2.920.123.2950.4562.9875.76405.05175.7627.27-67.91-86.364.46-21.340
21Q1 (9)6.545.14186.840.741333.33122.775.16142.25166.413.6711.89145.990.170.0145.950.16-5.88151.610.04-20.00.010.3451.39434.6315.480.5226.5715.000-65.3885.00-15.041.675.67-2.240.18
20Q4 (8)6.2222.2-10.37-0.0696.88-104.412.13-53.59353.573.28-48.26352.310.17-39.29342.860.17-34.62440.00.0525.00.06.83-34.01103.2715.4014.9312.90.00100.0100.0100.00-29.17-60.05.80-7.350
20Q3 (7)5.0967.436.04-1.9230.9415.424.5958.288.776.34148.6361.730.28133.3375.00.26116.6773.330.040.00.010.3523.88.7213.40-6.235.93-41.1858.8222.79141.18-29.41-7.936.260-2.8
20Q2 (6)3.0433.331547.62-2.7814.4652.072.90137.32843.592.55131.95294.660.12132.43300.00.12138.71400.00.040.00.08.36370.5579.414.2916.846.17-100.00-330.77-104.76200.00233.33110.00.00-100.0-100.0
20Q1 (5)2.28-67.15-72.79-3.25-338.97-192.59-7.77-825.0-197.49-7.98-513.85-211.61-0.37-428.57-205.71-0.31-520.0-196.880.04-20.00.0-3.09-191.96-124.7812.23-10.340.9143.33128.89-4.6760.00-76.04.215.660-2.92
19Q4 (4)6.9444.580.01.36159.910.0-0.84-119.910.0-1.30-133.160.0-0.07-143.750.0-0.05-133.330.00.0525.00.03.36-64.710.013.647.830.0-150.00-181.250.0250.0063.040.00.00-100.00.0
19Q3 (3)4.802385.710.0-2.2760.860.04.221182.050.03.92399.240.00.16366.670.00.15475.00.00.040.00.09.52104.290.012.65-6.020.0-53.33-102.540.0153.33107.670.06.4411.420.0
19Q2 (2)-0.21-102.510.0-5.80-265.240.0-0.39-104.890.0-1.31-118.320.0-0.06-117.140.0-0.04-112.50.00.040.00.04.66-62.630.013.4611.060.02100.004520.00.0-2000.00-3573.680.05.78-0.860.0
19Q1 (1)8.380.00.03.510.00.07.970.00.07.150.00.00.350.00.00.320.00.00.040.00.012.470.00.012.120.00.045.450.00.057.580.00.05.830.00.0
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)8.9732.692.6104.57-20.348.2434.866.8613.761.7641.941.5242.060.1918.7514.169.9430.98-17.1431.55068.45-46.60.0006.04-17.03
2022 (9)6.76-7.27-1.7605.7441.396.11-24.386.03-16.831.24-20.01.07-21.90.16-11.1112.881.2637.3944.92-28.180128.1839.410.0007.2823.39
2021 (8)7.2972.340.6504.06-13.868.081619.157.25577.571.55675.01.37522.730.1812.512.72127.5525.8067.538.05091.95-83.060.0005.900.34
2020 (7)4.23-18.5-1.9204.718.290.47-82.721.07-49.050.20-48.720.22-43.590.16-5.885.59-24.8715.4012.9-442.860542.86348.90.0005.880.0
2019 (6)5.19-39.79-0.5404.35386.412.72-36.02.10-46.290.39-49.350.39-45.070.17-5.567.4443.3513.6457.87-20.930120.93176.970.0005.8820.49
2018 (5)8.6202.4200.89-26.824.2513.943.9115.00.7713.240.7112.70.180.05.194.858.64-5.6856.34043.66-86.10.0004.88-16.87
2017 (4)-2.520-7.9901.22-17.783.73-74.633.40-75.780.68-71.670.63-71.880.1812.54.95-69.59.1639.42-214.060314.06132.60.0005.87-24.26
2016 (3)0.69-90.79-5.0901.4915.0914.7089.6814.0480.462.4045.452.2446.410.16-20.016.2379.346.57-23.6-34.560135.02166.350.0007.7517.07
2015 (2)7.49-26.713.84-39.531.29-23.277.7523.027.7813.581.651.851.532.00.20-9.099.0512.08.602.549.31-51.0750.6900.0006.6212.2
2014 (1)10.2206.3501.68-34.416.3006.8501.6201.5000.220.08.08-1.468.39-6.67100.76-41.83-0.7600.0005.90-1.5

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