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)30.145.79-31.2324.3310.14-30.3124.9514.34-39.2519.837.89-40.656.97291.5754.22.82314.7145.360.14250.0133.3325.0613.14-39.32126.70-25.42-5.3297.48-3.7514.662.52298.11-83.180.89-67.04-63.07
23Q3 (19)28.498.2-33.7722.0987.36-37.9521.8238.8-40.2518.381814.58-38.111.785833.3316.340.683300.01.490.04300.0100.022.1531.14-39.99169.885.5326.46101.2734.483.91-1.27-105.15-150.042.70-72.31-39.73
23Q2 (18)26.33-27.94-36.7111.79-54.62-65.5115.72-41.47-54.120.96-95.7-96.710.03-95.83-98.670.02-93.75-98.060.010.0-75.016.89-39.05-50.96160.9820.6525.7875.31-22.0-24.5424.69616.0512418.529.7527.95243.31
23Q1 (17)36.54-16.63-19.2525.98-25.58-38.2926.86-34.6-36.2622.32-33.19-35.470.72-84.07-89.120.32-83.51-89.440.01-83.33-88.8927.71-32.91-34.35133.43-0.2921.1996.5513.57-3.383.45-76.992531.037.62216.18612.15
22Q4 (16)43.831.887.2234.91-1.94-2.5441.0712.4610.5833.4112.4911.074.52195.42-24.031.94189.55-25.950.06200.0-33.3341.3011.8910.31133.82-0.394.2185.01-12.77-11.8814.99489.45324.822.41-46.2179.85
22Q3 (15)43.023.4176.635.604.15176.1836.526.6212.6729.701.821468.661.53-32.33160.00.67-34.9500.02-50.0100.036.917.17150.58134.344.963.2597.46-2.35-12.292.541188.98122.884.4857.75-55.51
22Q2 (14)41.60-8.07117.4634.18-18.81566.2834.26-18.7242.9429.17-15.67336.022.26-65.862411.111.03-66.011960.00.04-55.56300.034.44-18.41218.59127.9916.2531.2999.80-0.1399.610.2050.49-99.612.84165.42-81.14
22Q1 (13)45.2510.6918.0242.1017.5347.9342.1413.4621.4834.5914.9911.336.6211.26470.693.0315.65380.950.090.0350.042.2112.7420.7110.10-14.2625.2899.933.5921.750.13-96.28-99.271.07-20.15-79.96
21Q4 (12)40.8867.8250.2935.82177.8956.5637.14217.9847.0930.081486.1821.935.9512000.0-7.892.620-22.940.09800.0-35.7137.44154.1847.98128.41-1.3151.2196.47-13.176.483.53131.75-62.471.34-86.6961.45
21Q3 (11)24.3627.34-24.312.89151.27-50.6311.6816.92-65.04-2.17-132.44-107.08-0.05-155.56-102.840.00-100.0-100.00.010.0-66.6714.7336.26-56.25130.1133.4636.07111.11122.2241.93-11.11-122.22-150.4610.07-33.13177.41
21Q2 (10)19.13-50.1-46.375.13-81.97-81.639.99-71.2-69.016.69-78.47-72.210.09-92.24-93.130.05-92.06-93.590.01-50.0-66.6710.81-69.09-66.7197.4910.9420.450.00-39.09-42.2550.00179.07272.6215.06182.020
21Q1 (9)38.3440.96-5.1728.4624.39-19.434.6937.39-7.6931.0725.94-14.291.16-82.04-77.430.63-81.47-79.870.02-85.71-77.7834.9738.22-7.1487.883.4953.2682.08-9.4-12.6817.9290.63198.715.34543.37337.7
20Q4 (8)27.20-15.48-22.6622.88-12.37-19.0725.25-24.42-22.424.67-19.54-21.536.46267.0510.243.40261.71.80.14366.6727.2725.30-24.86-22.4484.92-11.1918.3490.6015.734.229.40-57.31-28.580.83-77.13-35.66
20Q3 (7)32.18-9.78-27.4126.11-6.52-35.3933.413.63-17.4530.6627.38-20.531.7634.35-62.310.9420.51-63.570.030.0-57.1433.673.7-17.0795.6218.0920.6978.29-9.58-21.5222.0264.0917492.663.630137.25
20Q2 (6)35.67-11.77-4.2227.93-20.9-6.3432.24-14.21-8.2524.07-33.6-11.151.31-74.51-51.120.78-75.08-50.940.03-66.67-50.032.47-13.78-7.9480.9741.21-3.3486.58-7.892.013.42123.72-11.250.00-100.0-100.0
20Q1 (5)40.4314.963.3235.3124.91.7937.5815.494.8536.2515.35.755.14-12.29-8.543.13-6.29-9.80.09-18.18-10.037.6615.454.8157.34-20.093.1994.008.13-2.996.00-54.4287.251.22-5.4317.31
19Q4 (4)35.17-20.660.028.27-30.040.032.54-19.590.031.44-18.510.05.8625.480.03.3429.460.00.1157.140.032.62-19.660.071.76-9.430.086.94-12.850.013.1610415.180.01.29-15.690.0
19Q3 (3)44.3319.040.040.4135.510.040.4715.170.038.5842.410.04.6774.250.02.5862.260.00.0716.670.040.6015.110.079.23-5.420.099.7517.520.00.13-99.170.01.53-32.890.0
19Q2 (2)37.24-4.830.029.82-14.040.035.14-1.950.027.09-20.970.02.68-52.310.01.59-54.180.00.06-40.00.035.27-1.840.083.7750.750.084.88-12.40.015.12372.040.02.28119.230.0
19Q1 (1)39.130.00.034.690.00.035.840.00.034.280.00.05.620.00.03.470.00.00.100.00.035.930.00.055.570.00.096.900.00.03.200.00.01.040.00.0
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)30.06-31.623.37-38.260.02-11.1724.02-39.7218.74-42.819.18-38.64.02-38.060.215.024.26-39.41126.70-5.3297.322.462.72-45.770.0002.13-1.39
2022 (9)43.9515.5437.8520.930.02-44.2939.8519.6332.7724.1314.95114.186.4989.210.2053.8540.0418.25133.824.2194.981.055.02-16.490.0002.16-35.33
2021 (8)38.0417.6631.3014.950.0489.6933.319.926.40-7.36.98-51.93.43-57.910.13-55.1733.8611.34128.4151.2193.994.586.01-40.850.0003.34119.74
2020 (7)32.33-16.1327.23-17.210.024.5730.31-14.7928.48-13.6414.51-21.748.15-25.230.29-12.1230.41-14.7284.9218.3489.88-2.7910.1534.640.0001.525.56
2019 (6)38.550.632.89-5.460.02151.7435.57-3.032.98-4.1318.54-32.3910.90-24.150.33-21.4335.66-2.8671.764.2792.46-2.547.5446.830.0001.4442.57
2018 (5)38.32-9.4134.79-9.090.01-42.436.67-21.7834.40-21.1627.4218.514.3738.040.4275.036.71-21.9168.82-41.2494.8616.195.14-72.060.0001.01-41.28
2017 (4)42.3049.8438.2760.130.01-24.0246.88-13.6543.63-16.8523.14-7.4410.416.440.2426.3247.01-13.65117.13-9.1981.6585.4818.38-67.160.0001.72-20.0
2016 (3)28.23-22.9323.90-10.920.02-41.1954.29119.5352.47143.9325.00271.479.78274.710.1972.7354.44102.68128.99-32.0844.02-59.455.9800.0002.15-38.75
2015 (2)36.63-26.4826.83-30.940.0367.1724.73-34.9421.51-40.586.73-64.242.61-65.150.11-45.026.86-31.11189.9214.2108.436.07-8.4300.0003.5162.5
2014 (1)49.82038.8500.02-47.3238.01036.20018.8207.4900.20-48.7238.99-40.03166.3013.52102.221.52-2.2200.0002.1675.61

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