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)45.2514.6728.1130.1625.379.4225.73-11.6470.5120.25-11.7675.322.37-9.89102.562.02-6.91102.00.1011.1111.1148.55-7.5819.5216.67-4.69-0.06116.8241.425.14-16.82-196.73-51.414.84-3.57-11.93
23Q3 (19)39.4611.3728.4524.0722.0653.729.1231.1711.1922.9529.2212.612.6344.5138.422.1743.7143.710.090.028.5752.539.94-3.317.49-29.33-1.7482.61-6.9237.6817.3954.59-56.5215.390.2-2.04
23Q2 (18)35.435.16-17.7419.7217.73-27.9222.2028.99-23.6117.7629.07-23.581.8249.18-24.171.5143.81-21.350.0912.512.547.783.35-9.924.7554.59-28.2888.75-7.9-6.1311.25518.75106.2515.36-4.24-12.03
23Q1 (17)33.69-4.61-4.6116.75-0.36-19.9717.2114.05-30.2413.7619.13-30.291.224.27-41.061.055.0-40.340.08-11.11-11.1146.2313.81-2.4916.01-4.02-1.9696.36-13.2713.371.82116.36-87.8816.04-4.81-5.59
22Q4 (16)35.3214.97-18.5616.817.34-40.1815.09-42.38-44.4411.55-43.33-46.281.17-38.42-59.791.00-33.77-55.560.0928.57-10.040.62-25.22-10.1516.68-6.29-8.3111.1185.197.25-11.11-127.78-208.8916.857.269.06
22Q3 (15)30.72-28.67-47.8315.66-42.76-66.3526.19-9.88-45.6520.38-12.31-47.151.90-20.83-73.651.51-21.35-72.940.07-12.5-50.054.322.43-7.2117.80-48.42-57.0560.00-36.54-37.9140.00633.331086.6715.71-10.021.16
22Q2 (14)43.0721.94-30.4627.3630.72-47.0129.0617.79-43.323.2417.73-43.322.4015.94-72.481.929.09-73.630.08-11.11-55.5653.0311.85-8.8434.51111.3386.0494.5511.23-6.315.45-63.64892.7317.462.7717.89
22Q1 (13)35.32-18.56-41.6320.93-25.52-58.1924.67-9.17-48.0419.74-8.19-48.042.07-28.87-73.051.76-21.78-72.240.09-10.0-47.0647.414.87-13.2216.33-10.23-23.0885.00-17.95-19.3315.00517.0379.4716.999.9715.11
21Q4 (12)43.37-26.34-27.6228.10-39.62-44.3927.16-43.64-44.3721.50-44.24-45.032.91-59.64-59.922.25-59.68-62.250.10-28.57-33.3345.21-22.77-18.3218.19-56.11-14.56103.607.210.05-3.60-206.71-1.3715.45-0.52-2.95
21Q3 (11)58.88-4.941.5946.54-9.860.5848.19-5.975.9138.56-5.955.937.21-17.3214.085.58-23.3516.740.14-22.227.6958.540.6411.2741.44123.484.3496.63-4.25-4.873.37589.89313.215.534.861.84
21Q2 (10)61.942.364.051.633.148.5151.257.9410.4341.007.9210.428.7213.5448.37.2814.8359.650.185.8850.058.176.489.0118.55-12.62-56.76100.92-4.22-1.52-0.6987.1872.2514.810.340
21Q1 (9)60.510.983.5250.06-0.9310.3147.48-2.74-1.737.99-2.86-1.687.685.7940.156.346.3833.470.1713.3341.6754.63-1.3-2.3221.23-0.2830.49105.371.7612.13-5.37-51.26-188.9414.76-7.29-3.28
20Q4 (8)59.923.380.7250.539.215.9348.827.39.6139.117.459.777.2614.8750.05.9624.6941.90.1515.3825.055.355.214.7121.29-5.2945.82103.551.94-3.39-3.55-124.4450.5815.924.395.57
20Q3 (7)57.96-2.69-1.7646.27-2.753.2645.50-1.96-1.9436.40-1.97-3.356.327.4823.924.784.8219.50.138.3318.1852.61-1.41-4.6622.48-47.643.18101.58-0.885.4-1.5836.23-143.5915.250-1.61
20Q2 (6)59.561.90.0547.584.855.7346.41-3.91-3.8337.13-3.91-3.835.887.315.074.56-4.012.590.120.020.053.36-4.6-6.3542.90163.686.93102.489.069.91-2.48-141.09-136.660.00-100.0-100.0
20Q1 (5)58.45-1.75-3.1645.38-4.86-5.8948.308.44-2.4838.648.45-2.55.4813.2210.934.7513.19.950.120.09.0955.935.81-3.9316.2711.4412.2893.97-12.33-3.286.03184.05112.2115.261.191.19
19Q4 (4)59.490.830.047.706.450.044.54-4.010.035.63-5.390.04.84-5.10.04.205.00.00.129.090.052.86-4.20.014.60-7.010.0107.1811.210.0-7.18-297.950.015.08-2.710.0
19Q3 (3)59.00-0.890.044.81-0.420.046.40-3.850.037.66-2.460.05.10-0.20.04.00-1.230.00.1110.00.055.18-3.160.015.70-60.870.096.373.360.03.63-46.370.015.502.990.0
19Q2 (2)59.53-1.380.045.00-6.680.048.26-2.560.038.61-2.570.05.113.440.04.05-6.250.00.10-9.090.056.98-2.130.040.12176.880.093.24-4.030.06.76137.840.015.05-0.20.0
19Q1 (1)60.360.00.048.220.00.049.530.00.039.630.00.04.940.00.04.320.00.00.110.00.058.220.00.014.490.00.097.160.00.02.840.00.015.080.00.0
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)38.877.0523.1513.3124.730.0923.960.6318.981.017.916.036.786.770.365.8848.990.3716.67-0.0696.6412.83.36-76.540.07-0.9615.37-8.46
2022 (9)36.31-36.7920.43-55.2724.71153.8823.81-47.2618.79-47.927.46-73.226.35-72.720.34-47.6948.81-11.2416.68-8.385.67-15.3214.3300.079.0416.7911.19
2021 (8)57.44-2.6845.67-4.099.7340.4245.15-4.5336.08-4.6827.8614.8423.2813.340.6520.3754.991.2518.19-14.56101.170.49-1.1700.07-4.9315.10-1.69
2020 (7)59.02-0.9747.622.526.93-20.0147.290.2537.85-0.0524.2624.4120.5420.330.5420.054.31-2.7621.2945.82100.682.33-0.6800.0731.8915.361.25
2019 (6)59.60-4.1846.45-7.828.677.8147.17-9.9837.87-9.8319.50-14.2917.07-14.860.45-6.2555.85-7.6614.604.8198.392.281.49-60.920.05100.9515.173.55
2018 (5)62.20-1.1950.39-3.858.0412.752.401.4942.00-1.6622.75-11.2720.05-11.560.48-9.4360.482.7913.937.2496.19-5.213.8100.03014.653.53
2017 (4)62.951.5352.412.487.13-4.7951.631.4342.711.0925.640.2322.670.270.53-1.8558.840.6512.99-1.37101.480.96-1.4800.00014.15-5.73
2016 (3)62.001.0351.144.017.49-12.6450.90-2.4942.25-2.4725.58-1.3522.61-2.420.541.8958.46-3.8813.170.92100.516.67-0.5100.00015.01-4.7
2015 (2)61.3714.3749.1720.698.57-33.8752.2020.0843.3218.0125.9351.923.1748.150.5323.2660.827.6113.0522.0894.230.525.77-7.730.00015.753.35
2014 (1)53.66040.74012.97-13.3443.47036.71017.07015.6400.43-4.4456.523.5710.6940.4793.75-0.66.259.910.00015.24-7.36

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