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)-37.73-251.96-254.89-151.2011.61-462.5-144.6113.53-467.77-144.6113.53-467.77-7.28-18.5713.54-4.72-13.19-85.830.030.0-72.73-133.3311.11-646.5356.2219.74-75.5103.70-0.623.7-3.7014.81055.25-14.23152.63
23Q3 (19)-10.7260.19-373.47-171.06-2.57-219.86-167.23-5.22-202.46-167.23-5.22-202.46-6.14-20.3951.65-4.17-17.133.470.0350.0-62.5-150.00-8.33-249.9846.9511.07-75.66104.35-0.6213.83-4.3513.04064.42-9.15126.51
23Q2 (18)-26.93-293.46-1.2-166.78-170.83-22.05-158.94-160.64-23.5-158.94-160.64-23.5-5.10-3.0363.86-3.56-27.632.190.02-60.0-50.0-138.46-176.92-27.8142.2711.56-75.99105.005.0-1.56-5.00025.070.9193.2740.89
23Q1 (17)13.92-42.86-45.07-61.58-129.09-199.51-60.98-139.42-251.67-60.98-139.42-251.67-4.9541.21-13.79-2.79-9.84-69.090.05-54.55-50.0-50.00-179.96-383.5637.89-83.49-74.67100.000.0-16.67-0.000100.036.6967.7664.53
22Q4 (16)24.36521.43254.59-26.8849.7431.79-25.4753.9328.64-25.4753.9328.64-8.4233.7-9.64-2.5441.219.870.1137.522.22-17.8658.3333.66229.4818.9863.61100.009.09-10.0-0.000100.021.87-23.11.06
22Q3 (15)3.92114.73-80.83-53.4860.86-18.82-55.2957.04-52.78-55.2957.04-52.78-12.709.99-148.05-4.3217.71-100.00.08100.033.33-42.8660.44-92.89192.889.5752.3391.67-14.06-19.79-0.00100.0100.028.44-43.49-9.14
22Q2 (14)-26.61-205.01-184.32-136.65-564.64-366.86-128.70-642.21-419.79-128.70-642.21-419.79-14.11-224.37-300.85-5.25-218.18-254.730.04-60.0-33.33-108.33-947.68-586.07176.0417.746.46106.67-11.11-11.11-6.6766.6766.6750.33125.773.85
22Q1 (13)25.34268.85-18.28-20.5647.83-26.76-17.3451.41-45.71-17.3451.41-45.71-4.3543.36-104.23-1.6547.95-85.390.1011.1111.11-10.3461.59-158.5149.576.6427.22120.008.0-10.0-20.00-80.040.022.303.05-6.97
21Q4 (12)6.87-66.41-39.31-39.4112.449.75-35.691.385.46-35.691.385.46-7.68-50.0-16.19-3.17-46.76-1.60.0950.012.5-26.92-21.157.71140.2610.7737.09111.11-2.780.0-11.1161.110.021.64-30.86-7.72
21Q3 (11)20.45-35.2-32.15-45.01-53.78-110.92-36.19-46.16-99.06-36.19-46.16-99.06-5.12-45.45-44.23-2.16-45.95-30.120.060.0-40.0-22.22-40.72-92.55126.625.3411.67114.29-4.76-4.76-28.57-42.86-42.8631.308.1244.17
21Q2 (10)31.561.7716.72-29.27-80.463.02-24.76-108.071.32-24.76-108.071.32-3.52-65.2614.77-1.48-66.2929.190.06-33.33-33.33-15.79-294.759.2120.202.2423.54120.00-10.02.86-20.0040.0-20.028.9520.780
21Q1 (9)31.01173.94170.59-16.2262.8668.03-11.9068.4873.8-11.9068.4873.8-2.1367.7867.73-0.8971.4775.480.0912.512.5-4.0086.2988.0117.5714.9240.82133.3320.021.21-33.33-200.0-233.3323.972.220
20Q4 (8)11.32-62.44-68.06-43.67-104.64-109.85-37.75-107.65-34.53-37.75-107.65-34.53-6.61-86.2-34.9-3.12-87.95-11.030.08-20.0-20.0-29.17-152.77-57.51102.31-9.7741.57111.11-7.4148.15-11.1144.44-144.4423.458.0133.77
20Q3 (7)30.1411.46-26.45-21.3429.29-64.28-18.1827.54-281.08-18.1827.54-281.08-3.5514.04-312.57-1.6620.57-252.290.1011.110.0-11.5433.64-160.01113.3916.5476.95120.002.86220.0-20.00-20.0-110.021.710-11.46
20Q2 (6)27.04135.95-32.77-30.1840.51-39.53-25.0944.76-71.26-25.0944.76-71.26-4.1337.42-87.73-2.0942.42-62.020.0912.50.0-17.3947.82-299.7797.3016.5440.36116.676.06-30.0-16.67-66.6775.00.000-100.0
20Q1 (5)11.46-67.66-73.21-50.73-143.78-176.76-45.42-61.87-266.0-45.42-61.87-266.0-6.60-34.69-202.75-3.63-29.18-168.890.08-20.0-33.33-33.33-79.97-833.6183.4915.5359.51110.0046.67-34.0-10.00-140.085.00.00-100.0-100.0
19Q4 (4)35.44-13.520.0-20.81-60.20.0-28.06-379.480.0-28.06-379.480.0-4.90-393.410.0-2.81-357.80.00.100.00.0-18.52-196.310.072.2712.780.075.00175.00.025.00-87.50.017.53-28.510.0
19Q3 (3)40.981.890.0-12.9939.940.010.04168.530.010.04168.530.01.67175.910.01.09184.50.00.1011.110.019.23542.070.064.08-7.560.0-100.00-160.00.0200.00400.00.024.52-5.510.0
19Q2 (2)40.22-5.980.0-21.63-18.00.0-14.65-18.050.0-14.65-18.050.0-2.20-0.920.0-1.294.440.00.09-25.00.0-4.35-21.850.069.3232.440.0166.670.00.0-66.670.00.025.956.180.0
19Q1 (1)42.780.00.0-18.330.00.0-12.410.00.0-12.410.00.0-2.180.00.0-1.350.00.00.120.00.0-3.570.00.052.340.00.0166.670.00.0-66.670.00.024.440.00.0
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)-14.040-131.23010.7759.74-126.820-126.820-37.980-19.6700.16-50.0-110.77056.22-75.5103.66-1.52-3.6600.55-51.3754.64100.59
2022 (9)13.25-39.28-45.3306.740.0-43.250-43.250-38.800-13.4400.323.23-32.580229.4863.61105.26-9.77-5.2601.12-20.7927.245.26
2021 (8)21.827.07-31.8506.74-10.43-26.740-26.740-18.400-7.8600.31-8.82-16.850140.2637.09116.672.53-20.8301.42-18.8725.888.65
2020 (7)20.38-48.88-35.8107.5311.83-30.990-30.990-19.870-10.3500.34-17.07-21.510102.3141.57113.79-28.13-13.7901.75-9.4423.823.48
2019 (6)39.8761.94-18.3806.7339.1-11.360-11.360-7.610-4.3400.4120.59-2.88072.2737.03158.3352.24-58.3301.93-20.5323.02-52.51
2018 (5)24.62-49.7-41.9004.84-80.65-40.810-40.810-18.050-13.4800.34325.0-33.87052.741537.89104.004.0-4.0002.43048.47-65.37
2017 (4)48.95-9.99-173.86025.006.25-174.590-174.590-16.660-14.3800.08-20.0-141.6703.22-85.55100.0021.74-0.0000.000139.9536.34
2016 (3)54.380.33-137.37023.533.53-168.290-168.290-18.190-14.5900.100.0-117.65022.29741.1382.14-26.517.8600.000102.6530.3
2015 (2)54.20-15.09-86.84022.73-12.34-77.300-77.300-9.880-6.9000.10-9.09-40.9102.65-94.53111.76-8.93-11.7600.00078.789.55
2014 (1)63.830-100.61025.9397.69-81.720-81.720-11.110-8.4000.11-57.69-48.15048.411580.9122.730.41-22.7300.00071.91113.89

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