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)15.4834.6129.32-25.2010.610.59-30.79-15.02-52.2-35.50-32.61-48.97-14.30-28.25-101.41-4.15-16.9-32.590.13-7.14-7.14-20.78-10.65-109.05225.488.6485.4782.98-21.9-32.4619.15406.38174.479.65-54.84-59.28
23Q3 (19)11.5072.93-37.6-28.1935.51-179.94-26.7742.55-138.17-26.7742.55-138.17-11.1512.48-140.3-3.5524.15-89.840.1427.27-22.22-18.7846.86-227.18207.5417.6799.0106.2513.5821.43-6.25-196.88-175.021.37-42.1-6.48
23Q2 (18)6.65-26.44-72.58-43.71-78.63-484.36-46.60-98.05-365.07-46.60-98.05-365.07-12.74-84.64-198.36-4.68-71.43-192.50.11-15.38-35.29-35.34-153.88-712.41176.3724.569.2693.55-11.2520.286.45338.71-76.7736.9163.2518.76
23Q1 (17)9.04-24.48-56.85-24.473.47-549.07-23.53-16.31-676.57-23.531.26-676.57-6.902.82-323.31-2.7312.78-326.560.13-7.14-45.83-13.92-40.04-3414.29141.6016.483.25105.41-14.2-18.02-2.7089.4990.5422.61-4.6-5.87
22Q4 (16)11.97-35.05-45.02-25.35-151.74-977.16-20.23-79.98-893.33-23.83-112.01-2037.4-7.10-53.02-1059.46-3.13-67.38-845.240.14-22.22-53.33-9.94-73.17-277.5121.5716.577.14122.8640.417.5-25.71-408.57-80.023.703.7215.05
22Q3 (15)18.43-24.0-13.72-10.07-34.63-809.15-11.24-12.18-656.44-11.24-12.18-1212.87-4.64-8.67-992.31-1.87-16.88-634.290.185.88-43.75-5.74-31.95-215.73104.29-35.3914.6787.5012.545.838.33-70.0-58.3322.85-26.486.68
22Q2 (14)24.2515.75-1.26-7.48-98.41-688.98-10.02-230.69-647.54-10.02-230.69-1201.1-4.27-161.96-1320.0-1.60-150.0-692.590.17-29.17-39.29-4.35-1135.71-190.81161.4217.7287.6677.78-39.5116.6727.78197.22-16.6731.0829.3932.48
22Q1 (13)20.95-3.77-37.07-3.77-230.455.75-3.03-218.8249.5-3.03-346.3452.43-1.63-320.27-10.14-0.64-252.3843.360.24-20.033.330.42-92.5124.0137.1420.86308.88128.5712.580.0-28.57-100.0-200.024.0216.6-36.17
21Q4 (12)21.771.92-33.912.89103.52372.642.5526.241693.751.2321.78128.340.7442.31172.550.4220.0158.330.30-6.2576.475.6012.931.15113.4724.76294.54114.2990.480-14.29-171.43020.60-3.83-38.51
21Q3 (11)21.36-13.03-39.471.4211.81123.712.0210.38133.551.0110.99123.060.5248.57147.710.3529.63150.720.3214.2988.244.963.55712.3590.95118.4294.6760.00-10.0-40.020.00-40.0021.42-8.7-32.34
21Q2 (10)24.56-26.22-24.921.27131.75242.71.83130.5381.580.91114.29-64.030.35123.65-45.310.27123.89-41.30.2855.5664.714.79373.71-23.9741.6424.15-21.4866.67-6.67033.3316.67023.46-37.660
21Q1 (9)33.291.061.62-4.00-277.3664.16-6.00-3650.0-528.57-6.37-46.77-555.0-1.48-45.1-648.15-1.13-56.94-591.30.185.8838.46-1.75-140.98-118.6633.5416.62-30.471.430106.4928.570-97.6237.6312.330
20Q4 (8)32.94-6.660.27-1.0682.3-125.3-0.1697.34-135.56-4.340.91-163.03-1.026.42-126.67-0.72-4.35-188.00.170.0-5.564.27627.16-35.528.76-38.44-40.10.00-100.0-100.00.000100.033.505.8114.37
20Q3 (7)35.297.8927.22-5.99-573.03-630.49-6.02-1684.21-356.06-4.38-273.12-165.45-1.09-270.31-136.96-0.69-250.0-176.00.170.0-5.56-0.81-112.86-119.0146.72-11.9-11.5100.000100.0-0.000-100.031.6608.57
20Q2 (6)32.71-0.1516.45-0.8992.0344.030.38-72.86-77.652.5380.71123.890.64137.04100.00.46100.070.370.1730.77-5.566.30-32.84-8.0353.0310.04-6.460.00100.0100.00.00-100.0-100.00.000-100.0
20Q1 (5)32.76-0.277.8-11.16-366.35-5773.681.40211.11-47.171.40184.85-45.10.27160.0-63.510.23192.0-57.410.13-27.78-27.789.3841.6917.2548.190.37-20.54-1100.00-283.3301200.00340.01100.00.00-100.0-100.0
19Q4 (4)32.8518.420.04.19610.980.00.45134.090.0-1.650.00.0-0.452.170.0-0.250.00.00.180.00.06.6255.40.048.01-9.050.0600.001100.00.0-500.00-1100.00.029.290.450.0
19Q3 (3)27.74-1.250.0-0.8248.430.0-1.32-177.650.0-1.65-246.020.0-0.46-243.750.0-0.25-192.590.00.180.00.04.26-37.810.052.79-6.880.050.00150.00.050.00-80.00.029.16-2.340.0
19Q2 (2)28.09-7.570.0-1.59-736.840.01.70-35.850.01.13-55.690.00.32-56.760.00.27-50.00.00.180.00.06.85-14.380.056.69-6.530.0-100.0000.0250.00150.00.029.864.590.0
19Q1 (1)30.390.00.0-0.190.00.02.650.00.02.550.00.00.740.00.00.540.00.00.180.00.08.000.00.060.650.00.0-0.000.00.0100.000.00.028.550.00.0
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)10.83-43.39-29.8305.7539.76-31.170-32.330-44.420-15.7300.52-29.73-21.570225.4885.4795.90-7.414.1001.3889.3122.11-12.5
2022 (9)19.13-20.03-10.8804.1175.85-10.450-11.220-18.010-7.6600.74-27.45-4.490121.577.14103.57-7.94-3.5700.73-30.6925.275.73
2021 (8)23.92-28.531.1102.34-50.651.0200.0200.0300.1201.0250.04.06-14.35113.47294.54112.50-67.86-12.5001.05-38.8223.90-29.5
2020 (7)33.4712.54-4.4304.748.67-1.250-1.280-1.200-0.7100.68-8.114.74-26.6328.76-40.1350.00775.0-250.0001.7214.5833.9016.06
2019 (6)29.74-9.360.34-79.274.3626.730.91-77.140.16-95.540.18-95.80.37-87.370.741.376.46-28.3848.01-18.6540.00-4.060.002.861.5011.929.21-0.81
2018 (5)32.81-5.151.64-46.233.449.233.9834.923.5969.344.2943.962.9346.50.73-7.599.0216.5459.02-13.1441.67-58.3358.3301.34029.454.47
2017 (4)34.5916.543.0503.157.312.9502.1202.9802.0000.792.67.74067.95-21.1100.0044.12-4.7600.00028.19-0.32
2016 (3)29.6814.68-4.6002.94-16.71-6.590-7.620-10.720-5.4900.775.48-1.74086.126.2469.39-18.2630.61102.510.00028.28-2.72
2015 (2)25.88-10.36-9.1503.53-2.91-10.840-11.280-14.430-7.9400.73-1.35-5.67081.0617.6384.88-63.6215.1200.00029.077.79
2014 (1)28.870-4.2003.6311.71-1.800-2.410-2.960-1.4700.74-7.53.27-40.4468.918.73233.331766.67-133.3300.00026.9731.63

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