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)20.82-3.52-2.981.17-84.21-79.4-1.38-112.27-132.86-1.46-116.57-139.67-0.70-112.09-142.94-0.23-108.3-123.710.22-29.03-4.355.26-66.13-50.98121.01-1.8945.39-88.89-236.03-166.03188.89461.11645.6826.1743.1663.77
23Q3 (19)21.5824.178.337.41463.24-14.7311.25511.41-18.488.81837.23-18.355.791312.2-13.842.77793.55-21.970.3134.78-3.1315.5359.94-13.72123.3415.6632.9265.35159.94.033.66-83.9-9.4318.28-22.87-7.44
23Q2 (18)17.383.95-1.86-2.04-292.31-217.921.84184.4-47.430.94142.53-59.130.41146.59-58.590.31177.5-47.460.234.550.09.7181.84-9.25106.6438.613.7-109.09-536.36-318.18209.09178.79318.1823.70-1.17-17.16
23Q1 (17)16.72-22.098.01-0.52-109.15-122.61-2.18-151.9-144.13-2.21-160.05-154.43-0.88-153.99-136.07-0.40-141.24-131.010.22-4.35-26.675.34-50.23-46.0676.94-7.56-13.9325.00-81.43-47.2275.00316.6742.523.9850.062.35
22Q4 (16)21.467.7314.825.68-34.64-6.584.20-69.57-71.013.68-65.89-72.781.63-75.74-86.380.97-72.68-81.660.23-28.12-41.0310.73-40.39-39.2883.23-10.3-24.88134.62114.25223.08-34.62-193.13-160.015.98-19.09-22.09
22Q3 (15)19.9212.4810.678.69402.3150.8713.80294.29178.2310.79369.13165.766.72578.7983.113.55501.69126.110.3239.13-13.5118.0068.22118.1892.79-1.07-37.6762.8325.66-45.2837.17-25.66323.0119.75-30.9710.89
22Q2 (14)17.7114.4111.951.73-24.78-35.693.50-29.1535100.02.30-43.351310.530.99-59.43718.750.59-54.261866.670.23-23.33-32.3510.708.08183.0793.794.92-35.4550.005.56050.00-5.0028.6122.1135.59
22Q1 (13)15.48-17.17-8.242.30-62.172.684.94-65.9178.994.06-69.9771.312.44-79.6235.561.29-75.6151.760.30-23.08-6.259.90-43.9748.6589.39-19.32-34.2847.3713.68-40.7952.63-8.77163.1623.4314.2410.41
21Q4 (12)18.693.83-9.86.085.5637.2514.49192.14670.7413.52233.0894.1211.97226.161050.965.29236.94898.110.395.4118.1817.67114.18209.46110.80-25.58-18.6441.67-63.71-82.2957.69446.15142.6420.5115.16-7.19
21Q3 (11)18.0013.78-12.075.76114.1381.74.9649700.06985.714.062236.843790.913.672393.754687.51.575133.332142.860.378.8212.128.25118.2589.22148.882.4718.55114.810-95.58-16.67099.3617.81-15.59-9.27
21Q2 (10)15.82-6.22-13.692.6920.09495.59-0.01-100.3698.92-0.19-108.0279.79-0.16-108.8970.370.03-96.47116.670.346.2521.433.78-43.241.34145.296.8233.660.00-100.0-100.00.00-100.0-100.021.10-0.570
21Q1 (9)16.87-18.58-8.562.24-49.44230.232.7646.81231.432.3774.26185.561.8073.08242.860.8560.38254.550.32-3.0339.136.6616.6482.97136.02-0.1238.480.00-66.06.6720.00114.7820.021.22-3.98-15.99
20Q4 (8)20.721.222.684.4339.75-26.411.882585.71-14.161.361336.36-5.561.041400.011.830.53657.146.00.330.00.05.7130.96-9.65136.188.4435.56235.29-90.95-16.67-135.2994.823.3322.1012.587.02
20Q3 (7)20.4711.6728.743.17566.18249.530.07107.53-56.25-0.1188.383.08-0.0885.1977.780.07138.89177.780.3317.8613.794.3616.89-15.99125.5815.5332.062600.003020.0285.71-2600.00-7900.0-273.3319.630-6.52
20Q2 (6)18.33-0.6528.72-0.6860.4791.78-0.9355.7181.55-0.9466.0682.85-0.5457.1478.49-0.1867.2787.140.2821.747.693.732.47631.37108.7010.636.3283.3311.11-48.9833.33100.0152.630.00-100.0-100.0
20Q1 (5)18.45-8.5722.92-1.72-128.5775.22-2.10-195.8971.7-2.77-292.3663.36-1.26-235.4861.82-0.55-210.069.610.23-30.3-8.03.64-42.41304.4998.28-2.1744.9175.00-73.44-19.2316.67109.44133.3325.2622.32-15.15
19Q4 (4)20.1826.920.06.02383.960.02.191268.750.01.44321.540.00.93358.330.00.50655.560.00.3313.790.06.3221.770.0100.465.650.0282.35120.170.0-176.47-111.760.020.65-1.670.0
19Q3 (3)15.9011.660.0-2.1274.370.00.16103.170.0-0.6588.140.0-0.3685.660.0-0.0993.570.00.2911.540.05.19917.650.095.0919.250.0-1400.00-957.140.01500.002468.420.021.00-33.750.0
19Q2 (2)14.24-5.130.0-8.27-19.160.0-5.0432.080.0-5.4827.510.0-2.5123.940.0-1.4022.650.00.264.00.00.51128.650.079.7417.580.0163.3375.90.0-63.33-986.670.031.706.480.0
19Q1 (1)15.010.00.0-6.940.00.0-7.420.00.0-7.560.00.0-3.300.00.0-1.810.00.00.250.00.0-1.780.00.067.820.00.092.860.00.07.140.00.029.770.00.0
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)19.484.842.18-54.965.7611.323.29-53.792.27-59.614.33-63.242.48-60.820.94-12.159.57-24.35121.0145.3965.56-3.6233.334.230.16-18.8522.604.0
2022 (9)18.586.784.8412.35.1764.187.1222.555.628.711.78-32.266.33-22.431.07-29.1412.6535.7383.23-24.8868.02-8.5231.9824.720.1924.4721.738.16
2021 (8)17.40-11.594.31144.893.15-21.625.8105.17017.3908.1601.5134.829.32107.57110.80-18.6474.36025.6400.15-60.8720.09-8.6
2020 (7)19.6818.341.7604.02-10.9-0.010-0.350-0.860-0.0601.121.824.4952.72136.1835.560.0000.0000.40-11.0221.98-11.26
2019 (6)16.635.32-2.0804.51108.84-2.030-2.590-5.500-2.6201.10-8.332.94-81.47100.4615.94101.890-1.8900.45-55.4424.77-8.73
2018 (5)15.792.2-3.2202.16-12.3313.15012.67031.50015.4901.2010.0915.87086.65-36.88-24.500124.50151.01.00027.14-0.77
2017 (4)15.45-12.81-2.6602.46-20.7-5.290-5.330-13.230-5.4001.094.81-2.170137.2716.5350.40-2.2549.605.810.00027.351.26
2016 (3)17.7220.71-1.4503.11-8.12-2.780-4.480-9.700-4.3001.041.960.920117.8018.7151.56-55.3446.8800.00027.01-2.74
2015 (2)14.68-16.59-5.2403.3813.58-4.540-5.280-10.010-5.1001.02-11.3-0.70099.2333.32115.46151.55-15.4600.00027.7714.42
2014 (1)17.6001.2002.98-9.922.5801.3902.9401.8901.151.775.9551.7974.43-20.9545.90054.10-78.360.00024.270.37

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