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)2.8118.07112.42-13.06-4.1553.88-19.33-302.7155.12-18.77-291.0446.72-5.88-320.025.38-3.06-370.7733.190.1713.3330.77-13.24-883.4363.3782.43-8.8813.7667.48-74.182.6132.52120.15-5.0210.608.726725.0
23Q3 (19)2.381730.77-80.74-12.5421.03-1206.25-4.80-39.13-195.43-4.80-42.01-215.38-1.40-48.94-218.64-0.65-51.16-192.860.150.0-6.251.69-47.02-82.8990.462.4333.84261.38-43.081453.02-161.3855.2-235.259.75-15.444.73
23Q2 (18)0.13-97.79-99.57-15.88-15.74-209.22-3.4574.58-115.15-3.3875.11-117.82-0.9471.34-112.89-0.4376.11-110.120.157.14-31.823.19152.21-87.7488.3114.390.17459.22354.3619.09-360.19-33127.91-1096.7111.53-21.14-6.94
23Q1 (17)5.88125.98-81.82-13.7251.55-181.04-13.5768.49-160.04-13.5861.45-172.12-3.2858.38-145.05-1.8060.7-139.130.147.69-41.67-6.1183.1-123.8377.206.5433.2101.0853.734.94-1.08-103.17-104.3214.629237.516.31
22Q4 (16)-22.63-283.09-158.14-28.32-2850.0-213.69-43.07-956.26-270.51-35.23-946.88-279.84-7.88-767.8-182.95-4.58-754.29-177.360.13-18.75-56.67-36.15-465.89-229.9472.467.2121.0565.77440.44-33.2934.23-71.312311.01-0.16-101.72-101.43
22Q3 (15)12.36-59.29-72.08-0.96-106.6-103.045.03-77.91-84.844.16-78.07-85.451.18-83.81-93.50.70-83.53-93.820.16-27.27-58.979.88-62.01-72.0267.59-23.338.51-19.32-130.25-120.3119.32230.172362.299.31-24.86-23.56
22Q2 (14)30.36-6.15-17.1814.54-14.12-44.7122.770.75-6.3318.970.74-9.417.290.14-46.834.25-7.61-50.520.22-8.33-46.3426.011.44-1.8188.1652.149.7563.86-14.75-40.9836.1444.05541.012.39-1.4323.41
22Q1 (13)32.35-16.8840.5916.93-32.0432.9922.60-10.5353.7418.83-3.8845.747.28-23.37-4.214.60-22.3-3.160.24-20.0-35.1425.64-7.8450.4757.96-3.17-6.0674.91-24.01-13.4925.091666.8587.1312.5712.3348.58
21Q4 (12)38.92-12.08183.0524.91-21.07401.2125.26-23.85293.4619.59-31.5248.589.50-47.66207.445.92-47.7200.510.30-23.08-14.2927.82-21.21211.1959.86-3.9-0.198.583.627.521.42-70.7-93.7411.19-8.1369.03
21Q3 (11)44.2720.76180.3731.5620.0379.6433.1736.45360.6928.6036.58365.0418.1532.39472.5611.3231.78457.640.39-4.8818.1835.3133.3253.162.295.817.8195.15-12.054.24.85159.13-44.1812.1821.3169.17
21Q2 (10)36.6659.3266.6426.30106.6151.4324.3165.37136.0220.9462.07140.4113.7180.39274.598.5980.84259.410.4110.8151.8526.4955.4693.3658.87-4.592.85108.1924.956.58-8.19-161.12-442.4810.0418.680
21Q1 (9)23.0167.3519.1612.73156.1438.2214.70128.9752.6512.92129.8951.827.60145.9582.694.75141.1266.670.375.7112.1217.0490.636.6561.702.9722.5786.5912.02-9.5613.41-40.93215.498.4627.790
20Q4 (8)13.75-12.92-35.174.97-24.47-52.586.42-10.83-12.655.62-8.62-17.113.09-2.527.291.97-2.96-3.430.356.0616.678.94-10.6-16.8459.923.740.177.30-15.35-45.9122.70161.45153.436.62-8.060
20Q3 (7)15.79-28.2322.786.58-37.09101.227.20-30.1113.656.15-29.39111.343.17-13.39138.352.03-15.06111.460.3322.223.1310.00-27.0143.6857.780.9439.1691.32-10.04-6.18.68674.65215.397.200-1.1
20Q2 (6)22.0013.9369.4910.4613.57234.1910.306.96134.628.712.35146.743.66-12.02145.642.39-16.14121.30.27-18.18-10.013.709.8656.3957.2413.7135.67101.516.0242.11-1.51-135.55-105.290.000-100.0
20Q1 (5)19.31-8.9649.929.21-12.12374.749.6331.02135.458.5125.52133.794.1644.44217.562.8539.71200.00.3310.026.9212.4716.033.5150.3417.728.1695.75-33.0100.894.25110.0-91.880.000-100.0
19Q4 (4)21.2164.930.010.48220.490.07.35118.10.06.78132.990.02.88116.540.02.04112.50.00.30-6.250.010.7554.450.042.773.010.0142.9246.970.0-42.48-1643.360.00.00-100.00.0
19Q3 (3)12.86-0.920.03.274.470.03.37-23.230.02.91-17.560.01.33-10.740.00.96-11.110.00.326.670.06.96-20.550.041.52-1.590.097.2536.150.02.75-90.370.07.28-2.670.0
19Q2 (2)12.980.780.03.1361.340.04.397.330.03.53-3.020.01.4913.740.01.0813.680.00.3015.380.08.76-6.210.042.197.410.071.4349.860.028.57-45.410.07.48-9.00.0
19Q1 (1)12.880.00.01.940.00.04.090.00.03.640.00.01.310.00.00.950.00.00.260.00.09.340.00.039.280.00.047.660.00.052.340.00.08.220.00.0
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)2.73-85.15-13.7904.5443.02-10.340-10.170-11.320-6.0400.63-22.22-3.69082.4313.76133.47119.64-33.3900.65150.0611.5418.72
2022 (9)18.38-49.714.89-80.153.1784.448.05-67.96.81-67.799.16-81.115.66-81.40.81-43.3612.19-55.4872.4621.0560.77-38.1439.312118.070.26-37.719.72-8.39
2021 (8)36.55110.6624.64225.931.72-15.8625.08205.4821.14197.7548.49245.8630.43226.51.4310.027.38147.5659.86-0.198.236.651.77-77.550.42-51.8210.6136.9
2020 (7)17.3515.367.5657.52.04-38.628.2170.697.1068.2514.02102.319.3288.661.3013.0411.0623.9959.9240.192.11-7.737.894447.370.8610.117.75-1.52
2019 (6)15.04-18.354.80-31.233.33-3.574.81-34.474.22-31.946.93-30.284.94-31.671.15-0.868.92-22.8442.771.7699.835.030.17-96.490.78-39.927.87-10.77
2018 (5)18.42-6.356.98-0.143.458.767.34-21.246.20-24.769.94-18.997.23-21.161.164.511.56-14.1242.0323.1895.0526.774.95-80.131.3008.82-6.67
2017 (4)19.6728.656.99109.913.1717.659.3229.448.2431.8412.2743.179.1740.641.116.7313.4631.0634.120.6874.9762.0424.92-53.620.0009.452.27
2016 (3)15.29-1.863.33-10.482.7078.617.2036.366.2519.58.5716.766.5227.841.047.2210.2728.0533.8915.5946.27-34.2353.7381.20.0009.2412.27
2015 (2)15.58-28.273.72-60.761.5146.515.28-60.895.23-54.727.34-60.095.10-58.670.97-9.358.02-50.2529.32-51.0970.350.1129.65-0.250.0008.23-7.32
2014 (1)21.7209.4801.03-6.4613.50011.55018.39012.3401.0712.6316.1218.7959.9562.3370.2720.9729.73-29.30.0008.88-23.05

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