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)41.836.4935.224.345.46103.026.354.85134.0120.186.27115.143.812.9793.42.656.43100.760.130.0-7.1431.953.5391.4344.48-2.9-17.3792.320.49-13.427.68-5.54215.6929.485.85-3.47
23Q3 (19)39.288.7817.3223.0816.8625.0925.1313.1-8.4918.9910.21-11.13.706.32-20.772.495.51-16.720.13-7.14-7.1430.8610.77-6.2945.81-16.04-14.3791.873.3937.028.13-27.04-75.1927.85-0.149.95
23Q2 (18)36.11-4.7-3.8919.75-13.79-6.7122.22-6.21-22.6917.23-2.66-20.453.484.19-27.042.363.51-24.60.147.690.027.86-6.45-18.0654.5625.71-12.4888.86-8.2120.6911.14248.72-57.7727.891.270.5
23Q1 (17)37.8922.46-3.5422.9191.08-2.9623.69110.39-18.1717.7088.7-20.23.3469.54-28.332.2872.73-27.390.13-7.14-7.1429.7878.43-12.6943.40-19.38-4.096.81-9.2218.673.19148.14-82.6727.54-9.820.33
22Q4 (16)30.94-7.59-24.5411.99-35.01-48.6711.26-58.99-53.839.38-56.09-51.971.97-57.82-56.421.32-55.85-54.330.140.0-6.6716.69-49.32-42.6953.830.621.39106.6459.0311.28-6.64-120.26-258.8930.5420.570.1
22Q3 (15)33.48-10.89-20.6118.45-12.85-33.9727.46-4.45-4.6221.36-1.397.724.67-2.1-1.062.99-4.47-2.290.140.0-6.6732.93-3.15-0.6353.50-14.18-13.1667.05-8.93-30.8232.7624.21030.0625.33-8.72-1.21
22Q2 (14)37.57-4.35-16.9521.17-10.33-33.6828.74-0.73-6.2321.66-2.34-3.34.772.36-12.83.13-0.32-16.090.140.0-17.6534.00-0.32-2.362.3437.8927.1273.63-9.74-29.3126.3743.13734.0227.751.097.98
22Q1 (13)39.28-4.2-11.3923.611.07-21.3328.9518.7-7.7422.1813.57-4.234.663.1-12.573.148.65-14.210.14-6.67-12.534.1117.14-5.2245.21-14.84-0.5781.57-14.87-14.7218.43341.26323.827.45-10.038.03
21Q4 (12)41.00-2.77-14.4823.36-16.39-26.6624.39-15.28-22.9619.53-1.51-22.164.52-4.24-24.292.89-5.56-28.990.150.0-6.2529.12-12.13-19.7453.09-13.8310.2195.82-1.13-4.714.1844.07851.6530.5118.9913.46
21Q3 (11)42.17-6.79-12.5527.94-12.47-21.8728.79-6.07-20.9719.83-11.47-23.354.72-13.71-25.23.06-17.96-29.330.15-11.76-11.7633.14-4.77-18.7761.6125.6332.4996.92-6.95-1.242.90169.6855.4725.64-0.2349.68
21Q2 (10)45.242.05-1.9131.926.36-0.0630.65-2.33-2.1422.40-3.28-0.315.472.636.213.731.910.540.176.256.2534.80-3.31-3.5749.047.855.62104.168.891.99-4.16-195.67-116.7725.701.140.51
21Q1 (9)44.33-7.5314.4630.01-5.7835.9831.38-0.8828.4523.16-7.6928.955.33-10.7278.863.66-10.0762.670.160.033.3335.99-0.816.0245.47-5.6138.7195.65-4.885.934.35882.61-55.1825.41-5.50.87
20Q4 (8)47.94-0.5814.8831.85-10.9322.2231.66-13.0924.525.09-3.0233.395.97-5.3933.564.07-6.021.490.16-5.88-11.1136.28-11.0820.8148.173.5940.4100.562.47-1.98-0.56-129.878.526.8956.9810.93
20Q3 (7)48.224.5512.5835.7611.9628.9636.4316.3224.6325.8715.1316.96.3122.5220.884.3316.7114.850.176.250.040.8013.0519.6146.500.1541.6898.14-3.913.211.86197.16-63.8117.13-33.01-31.89
20Q2 (6)46.1219.0824.1831.9444.7248.6331.3228.223.7922.4725.1127.165.1572.8227.793.7164.8928.370.1633.330.036.0916.3419.3146.4341.643.13102.1313.1120.49-1.92-119.78-112.8325.571.51-0.93
20Q1 (5)38.73-7.19-1.022.07-15.31-8.9524.43-3.931.3317.96-4.52-0.52.98-33.33-26.782.25-32.84-25.50.12-33.33-29.4131.023.37.5232.78-4.46-6.190.30-11.98-9.979.70475.451744.425.193.92-1.25
19Q4 (4)41.73-2.570.026.06-6.020.025.43-13.00.018.81-15.00.04.47-14.370.03.35-11.140.00.185.880.030.03-11.960.034.314.540.0102.587.890.0-2.58-150.150.024.24-3.620.0
19Q3 (3)42.8315.320.027.7329.040.029.2315.530.022.1325.240.05.2229.530.03.7730.450.00.176.250.034.1112.760.032.82-27.10.095.0812.170.05.15-65.560.025.15-2.560.0
19Q2 (2)37.14-5.060.021.49-11.340.025.304.940.017.67-2.110.04.03-0.980.02.89-4.30.00.16-5.880.030.254.850.045.0228.960.084.76-15.480.014.962635.460.025.811.180.0
19Q1 (1)39.120.00.024.240.00.024.110.00.018.050.00.04.070.00.03.020.00.00.170.00.028.850.00.034.910.00.0100.290.00.0-0.590.00.025.510.00.0
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)38.779.8622.5019.945.276.0224.341.1218.53-0.4814.26-11.659.67-8.950.52-7.1430.102.3544.48-17.3792.4018.67.54-65.850.29-4.0128.191.51
2022 (9)35.29-18.2918.76-33.784.9719.1224.07-16.3918.62-12.2116.14-20.2610.62-21.330.56-11.1129.41-11.5253.831.3977.91-20.8522.091302.870.31-19.4227.773.58
2021 (8)43.19-5.828.33-8.994.17-11.1328.79-8.7221.21-9.0520.242.3313.50-3.780.635.033.24-8.9153.0910.2198.43-0.291.5722.510.38-5.0226.8113.75
2020 (7)45.8513.9131.1324.924.703.0331.5421.1723.3221.5819.7811.514.036.530.60-11.7636.4918.448.1740.498.713.141.29-70.060.40-22.4323.57-6.32
2019 (6)40.258.1124.928.34.5623.0426.033.8319.1816.8117.745.0913.175.610.68-10.5330.826.6434.31-4.9195.714.284.29-47.750.5124.7225.162.28
2018 (5)37.235.7123.018.233.7014.2125.07-1.7616.42-11.4316.88-16.4812.47-13.70.76-2.5628.900.0736.081.9591.7810.158.22-50.730.41024.601.15
2017 (4)35.2213.4721.2615.613.245.0425.5213.2218.5412.3620.2110.6814.4511.240.78-1.2728.8812.235.39-22.3483.322.1816.68-9.640.00024.3232.39
2016 (3)31.049.2618.399.993.090.6322.5417.5816.5023.2318.2621.2512.9916.710.79-4.8225.7415.0145.5727.5881.54-6.5518.4644.860.00018.3716.56
2015 (2)28.414.9516.726.73.07-4.8919.174.7513.39-4.0115.06-2.7111.13-3.130.831.2222.383.0935.72-1.4387.261.9212.74-11.440.00015.76-3.79
2014 (1)27.07015.6703.23-8.7618.30013.95015.48011.4900.820.021.717.0536.243.9985.61-8.1214.39111.030.00016.387.41

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