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)4.85-25.38-19.031.28-48.39-46.89-0.08-105.76-200.0-0.14-112.280.0-0.17-111.5626.090.35-55.76.060.356.06-5.413.26-34.546.54237.71-17.41-31.04-1609.09-999.58-150.541706.062263.11155.377.39-10.6422.96
23Q3 (19)6.501.096.732.4838.5545.031.3995.774.511.14178.0523.911.47167.27-12.50.7931.6725.40.330.0-15.384.9810.6731.4287.82-0.22-23.95178.87-29.0639.17-78.8748.28-175.048.27-3.2711.16
23Q2 (18)6.43-6.43.381.79-10.0513.290.71-24.47-11.250.41-40.5817.140.55-43.33.770.60-6.2587.50.333.13-2.944.50-1.7525.7288.45-12.14-18.55252.1418.8128.38-152.50-35.56-58.28.55-6.66-4.47
23Q1 (17)6.8714.6931.111.99-17.43563.330.941075.0-35.620.69592.86-31.680.97521.74-35.760.6493.9428.00.32-13.51-8.574.5849.6718.04328.30-4.76-2.68212.23-93.33917.65-112.5096.35-242.149.1652.41-3.58
22Q4 (16)5.99-1.6431.072.4140.94853.120.08-93.98172.73-0.14-115.2285.11-0.23-113.6983.330.33-47.62283.330.37-5.132.783.06-19.2630.77344.72-8.918.213183.782377.091022.15-3081.08-10644.28-1577.046.01-19.22-35.65
22Q3 (15)6.09-2.09-17.811.718.234.271.3366.2522.020.92162.8613.581.68216.9854.130.6396.8870.270.3914.7114.713.795.877.06378.456.8621.6128.53-34.56-14.61-28.6870.2542.947.44-16.87-24.92
22Q2 (14)6.2218.7-8.531.58426.67125.710.80-45.2129.030.35-65.359.370.53-64.932.50.32-36.018.520.34-2.869.683.58-7.73-4.79354.144.9821.85196.40841.7473.4-96.40-221.8-626.688.95-5.79-18.19
22Q1 (13)5.2414.66-25.780.30193.75-81.481.461427.2735.191.01207.4580.361.51209.4296.10.50377.7838.890.35-2.786.063.8865.81-3.96337.355.894.420.85-92.65-86.0579.15143.08260.99.501.71-9.52
21Q4 (12)4.57-38.33-17.21-0.32-119.51-134.41-0.11-110.0968.57-0.94-216.056.0-1.38-226.618.0-0.18-148.650.00.365.88-2.72.34-33.9-10.34318.582.367.16283.7288.5205.38-183.72-265.55-149.769.34-5.752.64
21Q3 (11)7.418.9715.061.64134.2953.271.0975.810.930.81153.13-6.91.09172.5-12.10.3737.04-26.00.349.68-5.563.54-5.85-12.81311.237.080.84150.5232.8952.55-50.26-278.88-3879.489.91-9.4111.47
21Q2 (10)6.80-3.682.870.70-56.7940.00.62-42.59-41.510.32-42.86-61.90.40-48.05-58.330.27-25.0-42.550.31-6.063.333.76-6.93-26.85290.64-10.060.15113.27-24.22141.3-13.2773.03-125.010.944.190
21Q1 (9)7.0627.920.071.6274.19460.01.08408.57103.770.56156.0107.410.77151.33156.670.36300.09.090.33-10.8110.04.0454.79-11.6323.148.714.88149.46155.51274.17-49.19-113.32-126.3810.5015.380
20Q4 (8)5.52-14.29-1.780.93-13.08504.35-0.35-132.4159.77-1.00-214.94-12.36-1.50-220.97-26.05-0.18-136.000.372.785.712.61-35.71-7.45297.29-3.688.03-269.23-372.86-1091.56369.2327666.15406.859.102.360
20Q3 (7)6.44-2.57-1.081.07114.08.081.081.893.850.873.5733.851.2429.1744.190.506.382.040.3620.02.864.06-21.01-9.38308.646.359.5998.67110.213.771.33-97.49-72.968.8903.98
20Q2 (6)6.6112.41-8.950.50211.11-68.551.06100.0-33.750.84211.11-30.00.96220.0-36.420.4742.42-31.880.300.0-14.295.1412.47-0.96290.213.179.3746.94154.7-52.6353.06-71.555715.510.000-100.0
20Q1 (5)5.884.63-1.84-0.45-95.65-133.090.53160.92-3.640.27130.34-30.770.30125.21-37.50.330-23.260.30-14.29-11.764.5762.066.28281.292.226.95-85.81-416.03-134.74186.49156.0226.870.000-100.0
19Q4 (4)5.62-13.670.0-0.23-123.230.0-0.87-183.650.0-0.89-236.920.0-1.19-238.370.00.00-100.00.00.350.00.02.82-37.050.0275.19-2.290.027.15-71.440.072.851381.240.00.00-100.00.0
19Q3 (3)6.51-10.330.00.99-37.740.01.04-35.00.00.65-45.830.00.86-43.050.00.49-28.990.00.350.00.04.48-13.680.0281.646.140.095.08-4.040.04.92439.020.08.55-5.630.0
19Q2 (2)7.2621.20.01.5916.910.01.60190.910.01.20207.690.01.51214.580.00.6960.470.00.352.940.05.1920.70.0265.350.890.099.09-59.880.00.91100.620.09.0614.540.0
19Q1 (1)5.990.00.01.360.00.00.550.00.00.390.00.00.480.00.00.430.00.00.340.00.04.300.00.0263.010.00.0246.990.00.0-146.990.00.07.910.00.0
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)6.154.241.8820.511.9211.770.73-18.890.52-1.892.64-25.02.3623.561.32-14.844.3221.01237.71-31.04257.7348.92-157.7300.189.618.335.98
2022 (9)5.90-7.961.5677.271.72-18.290.9038.460.53231.253.52304.61.91135.81.5514.813.575.62344.728.21173.0727.73-73.0100.16-77.817.86-22.41
2021 (8)6.413.220.8854.392.10-17.550.6520.370.16-15.790.87-8.420.81-25.691.353.053.38-15.08318.587.16135.4927.35-35.6000.74-23.7810.133.26
2020 (7)6.21-2.050.57-38.042.552.330.54-6.90.19-42.420.95-45.711.09-33.541.31-7.093.98-5.01297.298.19106.40-32.98-6.4000.9745.029.8114.74
2019 (6)6.34-1.550.92-31.342.498.390.58-49.120.33-55.411.75-51.791.64-18.811.410.04.19-4.34274.790.59158.7435.29-58.7400.6750.788.559.62
2018 (5)6.443.211.3430.12.30-1.771.1448.050.7427.593.6344.622.0231.171.412.174.3814.06273.1723.21117.34-12.05-17.2700.449.947.80-4.76
2017 (4)6.240.161.0311.962.340.110.77-59.690.58-58.572.51-67.741.54-57.581.38-29.593.84-20.33221.715.7133.41176.68-33.4100.4008.19-2.62
2016 (3)6.23-12.250.92-36.112.3433.661.91-55.891.40-57.457.78-0.893.6311.351.96125.294.82-28.49209.7648.4148.2244.8951.74-22.390.0008.41-13.48
2015 (2)7.1019.731.44-33.641.7529.784.33-0.693.29-20.157.85-46.233.26-38.140.87-24.356.746.48141.34-32.7333.28-33.266.6732.840.0009.7230.82
2014 (1)5.9302.1701.35-18.544.3604.12014.6005.2701.1512.756.330210.122.6249.81050.19-60.240.0007.4325.3

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