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)15.1025.5235.677.5143.05-20.020.67-93.32-86.730.04-99.5-99.010.03-99.47-98.770.10-96.86-92.810.34-10.536.251.59-85.03-71.5677.250.84-1.541040.001856.19452.5-940.00-2054.21-1002.073.6933.219.5
23Q3 (19)12.03-1.64-23.725.2531.58-4.8910.0357.7-31.498.0457.34-31.45.6776.09-6.743.1879.662.580.3815.1546.1510.6249.16-30.4176.61-15.47-19.3553.16-15.3340.6348.1029.27-22.662.77-5.78-18.05
23Q2 (18)12.23-33.17-28.983.99-60.84-48.656.36-32.48-48.835.11-31.13-48.073.22-30.0-45.521.77-31.13-39.590.330.013.797.12-28.8-45.490.63-2.49-14.0962.79-41.760.237.21576.28-0.332.94-1.34-34.52
23Q1 (17)18.3064.4234.5610.198.5238.839.4286.53-12.377.4284.12-14.614.6089.3-43.972.5784.89-38.810.333.13-31.2510.0078.89-10.1592.9418.46-10.92107.81-42.7257.92-7.8190.84-124.622.98-11.5712.45
22Q4 (16)11.13-29.42-32.019.3970.11-7.45.05-65.51-49.354.03-65.61-48.22.43-60.03-62.731.39-55.16-59.360.3223.08-25.585.59-63.37-45.8978.46-17.4-14.68188.24397.9186.1-85.29-237.14-7320.593.37-0.335.89
22Q3 (15)15.77-8.427.795.52-28.96-26.614.6417.7893.6511.7219.1189.036.082.8822.583.105.819.230.26-10.34-36.5915.2617.0293.4194.99-9.960.8437.80-39.67-62.262.2066.5903.38-24.7213.42
22Q2 (14)17.2226.628.927.775.86-8.4812.4315.63127.249.8413.23125.175.91-28.0169.342.93-30.2458.380.29-39.58-30.9513.0417.16123.29105.501.1214.1562.67-8.21-59.8537.3317.66166.554.4969.4357.54
22Q1 (13)13.60-16.92-30.117.34-27.61-33.4510.757.822.488.6911.72.68.2125.9225.344.2022.8115.070.4811.6311.6311.137.742.39104.3313.4514.7968.27-32.51-35.0631.732860.58718.752.656.85-18.71
21Q4 (12)16.3711.898.1210.1434.8414.329.9731.8850.837.7825.4849.336.5231.4569.793.4231.5451.330.434.882.3810.3330.9346.7391.96-2.3827.46101.151.15-24.14-1.15096.552.48-16.78-25.08
21Q3 (11)14.63-7.469.517.52-11.438.677.5638.2147.376.2041.8854.614.9642.1253.562.6040.5438.30.41-2.38-10.877.8935.139.6594.201.9323.96100.00-35.94-26.420.00100.0100.02.984.567.97
21Q2 (10)15.81-18.7612.378.49-23.0310.985.47-47.86-1.264.37-48.41-1.133.49-46.72-5.931.85-49.32-16.290.42-2.33-14.295.84-46.27-2.592.421.6823.14156.1048.4813.77-56.10-993.9-50.762.85-12.580
21Q1 (9)19.4628.5317.4411.0324.3524.6310.4958.711.248.4762.5711.016.5570.5724.523.6561.513.350.432.384.8810.8754.47.290.8925.9735.94105.13-21.1510.76-5.1384.62-175.643.26-1.510
20Q4 (8)15.1413.32-12.038.8728.18-1.776.6128.8520.625.2129.9327.73.8418.8924.682.2620.2119.580.42-8.7-4.557.0424.610.5272.15-5.055.19133.33-1.89-18.28-33.337.1449.333.3119.934.75
20Q3 (7)13.36-5.05-0.456.92-9.54-8.225.13-7.4-26.824.01-9.28-28.773.23-12.94-33.951.88-14.93-34.040.46-6.12-6.125.65-5.68-27.3875.991.25-2.09135.90-0.9626.53-35.903.53-384.622.760-4.83
20Q2 (6)14.07-15.0912.567.65-13.5631.225.54-41.25-11.784.42-42.07-12.133.71-29.473.062.21-31.37-5.150.4919.5111.365.99-40.93-15.1675.0512.25-4.75137.2144.5648.04-37.21-648.84-608.530.000-100.0
20Q1 (5)16.57-3.727.118.85-1.995.619.4372.082.57.6387.013.815.2670.788.683.2270.37-2.420.41-6.82-4.6510.1459.181.7166.86-2.5240.5294.92-41.834.226.78110.31-24.070.00-100.0-100.0
19Q4 (4)17.2128.240.09.0319.760.05.48-21.830.04.08-27.530.03.08-37.010.01.89-33.680.00.44-10.20.06.37-18.120.068.59-11.620.0163.1651.910.0-65.79-788.160.03.168.970.0
19Q3 (3)13.427.360.07.5429.330.07.0111.620.05.6311.930.04.8935.830.02.8522.320.00.4911.360.07.7810.20.077.61-1.50.0107.4115.890.0-7.41-201.230.02.90-6.750.0
19Q2 (2)12.50-19.20.05.83-30.430.06.28-31.740.05.03-31.560.03.60-25.620.02.33-29.390.00.442.330.07.06-29.190.078.7965.590.092.681.770.07.32-18.050.03.11-11.90.0
19Q1 (1)15.470.00.08.380.00.09.200.00.07.350.00.04.840.00.03.300.00.00.430.00.09.970.00.047.580.00.091.070.00.08.930.00.03.530.00.0
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)14.330.846.68-11.760.3936.346.73-35.975.25-37.5713.00-39.27.66-35.141.391.467.44-32.4977.25-1.5499.4837.770.52-98.140.0003.08-8.33
2022 (9)14.21-14.047.57-18.60.2812.2310.5124.828.4124.9621.384.2911.813.781.37-17.9611.0225.5178.46-14.6872.20-34.6728.1400.0003.3616.67
2021 (8)16.5312.459.3015.960.25-33.568.4228.556.7329.1720.5031.4111.3821.581.67-5.118.7823.4991.9627.46110.53-9.57-10.5300.0002.88-4.95
2020 (7)14.700.558.024.160.38-13.366.55-5.625.21-4.9315.60-4.359.36-10.091.76-2.767.11-7.7872.155.19122.2210.0-22.2200.0003.03-4.11
2019 (6)14.621.537.7016.140.44187.676.94-1.425.480.1816.310.0610.41-0.11.81-1.097.712.868.5915.01111.1118.18-11.1100.0003.16-5.95
2018 (5)14.4016.046.6317.140.15-12.447.0461.15.4753.2216.3032.9510.4236.931.83-8.57.5053.0659.64-9.9594.02-27.455.9800.0003.3620.43
2017 (4)12.4124.975.6650.930.174.484.3747.643.5773.312.2663.97.6162.262.00-5.664.9044.9766.23-13.65129.602.99-29.6000.0002.799.41
2016 (3)9.93-18.873.756.230.17-28.922.96-29.192.06-36.427.48-10.314.69-14.572.1230.863.38-26.6876.7017.12125.8449.33-26.9700.0002.55-28.77
2015 (2)12.2411.883.5317.670.2432.534.180.973.24-1.228.34-6.715.49-11.591.62-7.954.61-1.0765.4923.6184.2716.9715.73-43.730.0003.589.15
2014 (1)10.9403.0000.1832.14.1403.2808.9406.2101.76-20.724.66-10.0452.98-6.2172.04-21.127.96221.510.0003.2832.79

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