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)13.43-28.07-30.52-1.55-124.72-119.756.65-63.5-12.59.65-36.14-4.931.74-50.99-38.081.44-47.64-34.840.15-16.67-28.579.58-53.2-7.819.00-21.39-38.91-22.73-164.81-122.13122.7385.294640.9125.1511.3822.68
23Q3 (19)18.670.05-3.866.27-5.29-32.018.22-2.98-5.8915.11-8.095.663.55-23.98-25.582.75-20.52-22.10.18-14.29-28.020.47-2.01-4.724.17-31.06-28.4535.06-1.18-25.8266.232.6625.6222.587.9317.85
23Q2 (18)18.6612.822.986.6237.34-17.6618.78199.0421.416.44190.4625.694.67215.543.093.46208.933.590.215.0-16.020.89138.7417.6235.06-2.31-7.1835.48-53.23-31.464.52167.2833.6420.92-1.1813.26
23Q1 (17)16.54-14.438.964.82-38.6-17.186.28-17.37-40.985.66-44.24-32.131.48-47.33-47.521.12-49.32-46.410.20-4.76-20.08.75-15.78-32.5435.8915.43.775.86-26.1339.4924.14993.1-47.0821.173.2710.32
22Q4 (16)19.33-0.4662.857.85-14.86155.77.60-60.7458.3310.15-29.02228.482.81-41.09148.672.21-37.39160.00.21-16.0-22.2210.39-51.6343.7131.10-7.93-16.29102.70117.2663.12-2.70-105.13-107.320.506.9915.04
22Q3 (15)19.427.1745.589.2214.68143.9219.3625.15196.4814.309.33123.444.775.3117.813.535.69115.240.250.00.021.4820.95137.0933.78-10.56-2.6847.27-8.61-19.6452.739.2228.0519.163.746.33
22Q2 (14)18.1219.3753.958.0438.14892.5915.4745.39237.7713.0856.83189.384.5360.64248.463.3459.81234.00.250.013.6417.7636.93131.5537.779.137.1851.72-4.89244.8348.285.84-39.6618.47-3.75-10.03
22Q1 (13)15.1827.8927.785.8289.581038.7110.64121.67255.858.34169.9180.812.82149.56286.32.09145.88260.340.25-7.4131.5812.9779.3996.2234.61-6.8418.3754.39-13.62399.1245.6123.16-61.419.197.69-19.51
21Q4 (12)11.87-11.024.583.07-18.78219.464.80-26.49298.353.09-51.72183.741.13-48.4231.40.85-48.17230.770.278.050.07.23-20.2317.9237.157.0323.0562.967.04-44.0337.04-10.05396.317.82-1.11-21.36
21Q3 (11)13.3413.34-16.833.78366.67200.06.5342.581132.086.4041.591500.02.1968.462090.01.6464.01540.00.2513.6431.589.0618.1292.3634.71-1.521.6658.82292.16-76.4741.18-48.53127.4518.02-12.23-14.6
21Q2 (10)11.77-0.93-33.050.81230.65-71.284.5853.18-40.94.5252.19-40.841.3078.08-38.681.0072.41-38.650.2215.794.767.6716.04-32.7835.2420.5210.0215.00182.5-57.7380.00-32.3124.020.53-13.880
21Q1 (9)11.884.67-24.86-0.6275.88-120.812.99223.55-45.642.97180.49-45.60.73184.88-51.010.58189.23-49.570.195.56-5.06.61282.08-30.1329.24-3.15-10.5-18.18-116.16-133.33118.181045.45160.023.845.216.24
20Q4 (8)11.35-29.24-43.36-2.57-303.97-134.64-2.42-556.6-145.75-3.69-1022.5-161.81-0.86-960.0-146.74-0.65-750.0-147.10.18-5.26-18.181.73-63.27-80.5230.195.82-16.63112.50-55.0-21.59-12.5091.6768.0622.667.393.0
20Q3 (7)16.04-8.76-12.781.26-55.32-84.520.53-93.16-95.350.40-94.76-96.430.10-95.28-97.660.10-93.87-96.710.19-9.52-29.634.71-58.72-67.3428.53-10.93-25.93250.00604.55254.65-150.00-332.5-638.2421.10011.35
20Q2 (6)17.5811.27.02.82-5.37-57.597.7540.91-10.27.6439.93-9.162.1242.28-39.771.6341.74-34.010.215.0-27.5911.4120.61-1.6432.03-1.96-32.0535.48-34.95-54.2464.5241.94187.390.00-100.0-100.0
20Q1 (5)15.81-21.11-3.662.98-59.84-44.35.503.9724.435.46-8.5426.11.49-19.02-1.971.15-16.675.50.20-9.09-16.679.466.5318.732.67-9.78-23.3854.55-61.98-54.1845.45216.16338.6422.442.013.51
19Q4 (4)20.048.970.07.42-8.850.05.29-53.640.05.97-46.650.01.84-57.010.01.38-54.610.00.22-18.520.08.88-38.420.036.21-6.00.0143.48103.540.0-39.13-240.410.022.0016.090.0
19Q3 (3)18.3911.930.08.1422.410.011.4132.210.011.1933.060.04.2821.590.03.0423.080.00.27-6.90.014.4224.310.038.52-18.290.070.49-9.10.027.8724.140.018.955.690.0
19Q2 (2)16.430.120.06.6524.30.08.6395.250.08.4194.230.03.52131.580.02.47126.610.00.2920.830.011.6045.550.047.1410.550.077.55-34.860.022.45217.860.017.93-9.310.0
19Q1 (1)16.410.00.05.350.00.04.420.00.04.330.00.01.520.00.01.090.00.00.240.00.07.970.00.042.640.00.0119.050.00.0-19.050.00.019.770.00.0
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)17.07-5.224.45-42.652.286.9212.93-4.2911.902.9411.13-25.258.95-20.370.75-21.8715.34-3.119.00-38.9134.39-40.0865.6153.970.09-29.3322.2215.19
2022 (9)18.0146.97.76280.392.14-21.3613.51176.8411.56168.2114.89179.3611.24178.220.963.2315.83106.3931.10-16.2957.3938.9442.61-26.030.13-9.219.29-1.88
2021 (8)12.26-19.922.0463.22.72-27.214.8858.444.3158.465.3389.684.0481.170.9320.787.679.5737.1523.0541.300.057.61-5.360.14170.8719.66-8.73
2020 (7)15.31-13.71.25-81.943.7322.693.08-59.842.72-64.542.81-75.042.23-72.50.77-25.967.00-35.930.19-16.6341.30-54.2460.87524.930.051.2521.5410.35
2019 (6)17.74-3.486.92-14.993.04-17.447.67-15.97.67-15.911.26-25.088.11-16.221.040.9710.92-16.8936.21-23.4190.261.339.74-10.880.05019.522.95
2018 (5)18.384.438.142.783.689.179.1246.869.1248.7815.0323.49.6837.891.03-4.6313.1430.4947.28-36.4989.07-30.4310.9300.00018.964.81
2017 (4)17.60-8.337.92-10.23.37-11.466.21-21.896.13-21.6112.18-26.987.02-15.521.088.010.07-18.274.45-22.11128.0315.94-28.0300.00018.09-5.73
2016 (3)19.2034.088.82112.023.81-18.547.95169.497.82143.6116.68139.668.31129.561.009.8912.3143.4795.58-27.59110.43-21.32-11.0400.00019.19-2.59
2015 (2)14.32-10.614.1651.274.68-23.112.95-71.223.21-61.656.96-65.063.62-60.310.91-7.148.58-50.94132.00-9.44140.35422.69-40.3500.00019.70-18.16
2014 (1)16.0202.7506.08-23.3510.2508.37019.9209.1200.9827.2717.49101.03145.763.6926.85-67.7873.15338.890.00024.071.48

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