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)26.40-20.19-23.774.15-42.68-56.52.39-71.03-64.641.49-74.22-70.550.55-75.45-75.450.37-69.17-67.540.18-5.26-14.294.97-52.58-45.68100.71-4.27-10.11166.6791.3617.89-66.67-616.67-61.1122.903.213.53
23Q3 (19)33.0829.02-12.467.24229.09-31.78.2576.28-40.695.78167.59-45.112.24198.67-46.671.20155.32-41.180.1911.760.010.4842.97-37.47105.20-0.06-11.0687.1099.0813.912.90-74.19-45.1622.197.09-6.53
23Q2 (18)25.64-23.1-32.032.20-58.02-78.874.68-49.41-31.782.16-68.011.920.75-71.371.350.47-64.936.820.17-5.56-10.537.33-37.3-22.35105.26-3.85-5.5243.75-21.25-70.4450.0020.0196.1520.72-19.78-16.42
23Q1 (17)33.34-3.73-17.85.24-45.07-55.869.2536.83-3.446.7533.44.492.6216.969.171.3417.546.350.18-14.290.011.6927.76-1.76109.47-2.296.8355.56-60.7-55.0341.67200.69277.0825.8328.06-4.44
22Q4 (16)34.63-8.36-4.719.54-10.06.126.76-51.4-19.045.06-51.95-29.922.24-46.67-19.711.14-44.12-21.920.2110.5310.539.15-45.41-13.76112.04-5.289.5141.3884.8832.54-41.38-275.86-520.6920.17-15.04-14.82
22Q3 (15)37.790.19-12.410.601.83-18.4613.91102.77-7.6410.53445.6-12.94.20467.57-14.812.04363.64-19.050.190.0-5.016.7677.54-3.46118.286.1716.6676.47-48.33-10.5123.53145.2584.8723.74-4.24-24.59
22Q2 (14)37.72-7.0-2.5610.41-12.3-32.716.86-28.39-52.031.93-70.12-83.770.74-69.17-82.420.44-65.08-80.270.195.565.569.44-20.67-42.65111.418.728.85148.0019.8135.92-52.00-121.0-485.024.79-8.2925.84
22Q1 (13)40.5611.61-4.211.8732.0457.439.5814.730.216.46-10.53-13.522.40-13.987.621.26-13.7-0.790.18-5.2612.511.9012.16-7.89102.470.1516.51123.5315.8160.59-23.53-252.94-222.3527.0314.15-17.06
21Q4 (12)36.34-15.76-13.688.99-30.85-31.438.35-44.56-61.77.22-40.28-51.82.79-43.41-51.91.46-42.06-54.940.19-5.0-9.5210.61-38.88-55.72102.320.9220.04106.6724.8279.39-6.67-152.38-117.0123.68-24.78-11.18
21Q3 (11)43.1411.4412.713.00-15.9783.3615.065.31110.6312.091.68112.854.9317.1148.992.5213.0119.130.2011.115.2617.365.4764.71101.39-0.9423.2385.45-21.52-14.5512.73243.18031.4859.824.18
21Q2 (10)38.71-8.57-9.4515.47105.17-7.8114.3049.58-25.2511.8959.17-25.174.2188.79-30.072.2375.59-31.60.1812.5-10.016.4627.4-26.52102.3516.3711.24108.8941.5625.32-8.89-146.22-177.4619.70-39.550
21Q1 (9)42.340.5725.457.54-42.49196.859.56-56.15865.667.47-50.131921.952.23-61.551958.331.27-60.84133.330.16-23.810.012.92-46.08149.4287.953.180.4876.9229.37-74.3619.23-50.93109.6232.5922.2428.0
20Q4 (8)42.109.98-1.7513.1184.9162.2521.80204.9302.9614.98163.73296.35.80192.93360.323.24181.74315.380.2110.5316.6723.96127.32156.2685.243.63.9359.46-40.54-59.4639.190183.9826.665.17-1.66
20Q3 (7)38.28-10.46-3.587.09-57.75-25.997.15-62.62-19.665.68-64.25-41.321.98-67.11-44.851.15-64.72-41.920.19-5.00.010.54-52.95-13.3982.28-10.57-6.07100.0015.09-6.90.00-100.0100.025.350-2.95
20Q2 (6)42.7526.672.5216.78560.6369.1519.131832.3279.4615.893975.61114.446.025116.67113.483.2610766.67105.030.2025.00.022.40332.4362.4492.015.12-2.1286.89-71.04-7.6811.48105.7495.080.00-100.0-100.0
20Q1 (5)33.75-21.246.432.54-68.56323.330.99-81.7-73.17-0.41-110.85-113.18-0.12-109.52-112.00.03-96.15-95.380.16-11.11-11.115.18-44.6-31.2187.536.723.51300.00104.551400.0-200.00-328.57-322.2225.46-6.09-1.05
19Q4 (4)42.857.930.08.08-15.660.05.41-39.210.03.78-60.950.01.26-64.90.00.78-60.610.00.18-5.260.09.35-23.170.082.02-6.370.0146.6736.550.0-46.67-530.00.027.113.790.0
19Q3 (3)39.70-4.80.09.58-3.430.08.90-16.510.09.6830.630.03.5927.30.01.9824.530.00.19-5.00.012.17-11.750.087.60-6.810.0107.4114.120.0-7.41-225.930.026.1217.710.0
19Q2 (2)41.7031.50.09.921553.330.010.66188.890.07.41138.260.02.82182.00.01.59144.620.00.2011.110.013.7983.130.094.0011.160.094.12370.590.05.88-93.460.022.19-13.760.0
19Q1 (1)31.710.00.00.600.00.03.690.00.03.110.00.01.000.00.00.650.00.00.180.00.07.530.00.084.560.00.020.000.00.090.000.00.025.730.00.0
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)29.75-20.734.77-54.791.30-18.186.23-32.284.12-31.16.16-34.683.40-30.610.72-5.268.69-25.85100.71-10.1176.92-32.7523.0803.6233.8922.98-3.24
2022 (9)37.53-6.2710.55-7.211.59-5.59.20-22.695.98-38.679.43-32.214.90-34.490.762.711.72-18.44112.049.5114.3919.76-14.3902.70-8.4923.75-11.15
2021 (8)40.041.1411.379.431.68-22.4411.90-9.519.750.3113.913.737.48-2.350.74-1.3314.37-11.62102.3220.0495.5120.734.49-78.522.95-13.9826.732.26
2020 (7)39.591.2810.3944.512.17-8.6113.1579.649.7258.8213.4158.327.6651.380.75-1.3216.2648.7685.243.9379.11-19.9620.89798.13.43-46.3926.143.73
2019 (6)39.095.257.1920.442.37112.837.3223.866.1232.188.4737.065.0633.510.762.710.9332.8182.02-0.2198.84-2.572.3306.402.8725.202.73
2018 (5)37.141.145.97-26.481.114.85.91-26.864.63-39.956.18-41.533.79-39.260.74-3.98.23-20.1782.193.74101.451.45-1.4506.22024.5311.0
2017 (4)36.72-4.758.123.71.06-14.318.08-2.657.7120.4710.5754.316.2438.360.7711.5910.311.4879.233.96100.007.250.0000.00022.108.39
2016 (3)38.55-6.557.83-26.691.24-6.778.304.276.4013.276.852.74.51-7.770.69-18.8210.163.5776.21167.2293.24-30.075.4100.00020.392.98
2015 (2)41.2517.4210.6835.361.336.547.96-37.125.65-46.56.67-55.714.89-53.030.85-12.379.81-32.5828.52-44.88133.33114.49-33.3300.00019.8011.86
2014 (1)35.1307.8901.2536.7512.66010.56015.06010.4100.97-15.6514.5557.6451.7419.6962.16-65.6937.8400.00017.7026.79

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