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)28.513.94-29.317.81-21.03-69.354.82-67.99-77.533.10-73.93-84.40.36-79.19-89.290.42-67.69-82.130.08-20.0-27.2727.52-17.18-29.1645.52-5.68-15.25161.54146.0135.97-61.54-279.23-227.2319.5420.9234.76
23Q3 (19)27.43-23.95-30.479.89-39.36-59.415.06-16.19-60.6911.89-14.28-58.431.73-9.42-68.261.30-7.8-62.860.1011.11-16.6733.23-8.31-35.4348.26-16.92-16.3965.66-27.693.3334.34273.61-5.6116.16-11.35-2.36
23Q2 (18)36.07-1.39-10.0716.31-15.32-40.1517.97-1.05-34.6313.870.43-39.31.91-3.05-52.721.41-4.73-46.790.090.0-18.1836.242.11-14.7158.0918.99-17.3690.81-14.42-8.339.19250.42884.5218.236.9813.51
23Q1 (17)36.58-9.3-15.5619.26-24.41-32.0218.16-15.34-37.113.81-30.5-39.91.97-41.37-51.361.48-37.02-44.360.09-18.18-18.1835.49-8.65-16.6748.82-9.1-18.31106.11-10.698.21-6.1167.51-434.917.0417.528.47
22Q4 (16)40.332.233.1525.484.623.5121.45-44.015.119.87-30.524.33.36-38.35-7.182.35-32.863.520.11-8.330.038.85-24.514.453.71-6.95-16.08118.8186.9617.63-18.81-151.7-1777.4614.50-12.39-18.22
22Q3 (15)39.45-1.65-0.0324.36-10.616.3338.3139.3676.3828.6025.1668.535.4534.969.783.5032.0877.660.129.099.0951.4621.1140.1857.72-17.88-23.7863.55-35.86-39.7336.383796.95770.0516.553.051.6
22Q2 (14)40.11-7.4124.1427.25-3.8144.1827.49-4.7861.9922.85-0.5770.144.04-0.2562.92.65-0.3872.080.110.010.042.49-0.2332.270.2917.62-9.7799.071.02-11.070.93-48.83108.1916.062.230.82
22Q1 (13)43.3210.7957.4728.3337.32108.028.8741.45138.622.9820.63159.954.0511.88162.992.6617.18166.00.110.010.042.5925.4150.4459.76-6.63-25.7698.06-2.91-12.91.82282.14114.4915.71-11.39-7.26
21Q4 (12)39.10-0.9145.5220.63-9.95175.820.41-6.03150.4319.0512.26202.383.6212.77277.082.2715.23278.330.110.037.533.96-7.4935.8464.00-15.49-19.98101.00-4.29.99-1.0081.55-112.2517.738.84-6.88
21Q3 (11)39.4622.1352.5922.9121.22183.8921.7227.99-2.616.9726.361.373.2129.4426.381.9727.9225.480.1110.037.536.7114.22-9.1675.73-2.79-5.51105.43-5.36191.85-5.4352.38-108.516.292.26-16.93
21Q2 (10)32.3117.451.3518.9038.7719.0916.9740.2527.2113.4351.9233.92.4861.0466.441.5454.050.980.100.025.032.1413.533.1177.90-3.23-9.95111.40-1.06-6.35-11.409.4439.8415.93-5.960
21Q1 (9)27.512.3815.9813.6282.0966.9112.1048.4798.048.8440.32127.841.5460.42196.151.0066.6792.310.1025.025.028.3113.2410.7680.500.6511.54112.5922.62-15.36-12.59-253.9862.9316.94-11.03-10.28
20Q4 (8)26.873.9123.097.48-7.3139.298.15-63.4569.096.30-62.3741.890.96-62.260.00.60-61.7833.330.080.00.025.00-38.1316.7179.98-0.2111.7491.82154.19-17.948.18-87.2168.6819.04-2.91-7.12
20Q3 (7)25.86-18.88-26.078.07-49.15-32.8622.3067.17-29.1616.7466.9-37.862.5470.47-32.091.5753.92-30.530.080.00.040.4129.64-14.880.15-7.3528.2236.12-69.63-5.3963.88437.053.3319.61010.04
20Q2 (6)31.8834.4-14.6515.8794.49-18.8213.34118.33-26.6610.03158.51-33.271.49186.54-38.171.0296.15-32.00.080.0-11.1131.1721.951.786.5119.87-0.31118.95-10.5810.65-18.9544.2-152.460.00-100.0-100.0
20Q1 (5)23.728.66-44.068.1651.96-71.026.1126.76-75.983.88-12.61-82.00.52-13.33-85.10.5215.56-77.680.080.0-20.025.5619.33-31.4472.170.8211.32133.0218.8720.16-33.96-185.28-217.3718.88-7.96.67
19Q4 (4)21.83-37.590.05.37-55.320.04.82-84.690.04.44-83.520.00.60-83.960.00.45-80.090.00.080.00.021.42-54.840.071.5814.510.0111.90193.080.0-11.90-119.260.020.5015.040.0
19Q3 (3)34.98-6.350.012.02-38.520.031.4873.060.026.9479.240.03.7455.190.02.2650.670.00.08-11.110.047.4354.750.062.51-27.970.038.18-64.480.061.82923.510.017.823.60.0
19Q2 (2)37.35-11.910.019.55-30.580.018.19-28.50.015.03-30.290.02.41-30.950.01.50-35.620.00.09-10.00.030.65-17.780.086.7833.860.0107.51-2.890.0-7.5129.850.017.20-2.820.0
19Q1 (1)42.400.00.028.160.00.025.440.00.021.560.00.03.490.00.02.330.00.00.100.00.037.280.00.064.830.00.0110.700.00.0-10.700.00.017.700.00.0
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)32.31-20.7313.59-48.3316.4530.114.44-50.6211.03-53.446.01-64.584.71-58.860.36-20.033.39-24.1745.52-15.2594.144.655.86-41.80.18-6.7117.6512.28
2022 (9)40.7616.4926.3036.6912.64-3.0729.2461.8223.6958.8916.9763.6511.4572.70.459.7644.0333.5553.71-16.0889.96-15.5110.0600.198.6815.72-6.21
2021 (8)34.9928.9219.2494.5413.05-14.9218.0743.9814.9160.1510.3795.296.6380.160.4128.1232.977.8564.00-19.98106.4735.2-6.4700.18-19.0816.76-12.39
2020 (7)27.14-21.749.89-41.8215.3324.6912.55-37.849.31-45.715.31-47.943.68-45.80.32-13.5130.57-10.6479.9811.7478.76-6.4621.1433.730.2297.1419.134.94
2019 (6)34.68-6.5217.00-30.112.3030.120.19-21.817.15-30.5910.20-49.156.79-49.060.37-28.8534.21-6.5871.5838.2784.19-10.6515.81174.130.11212.5118.2318.92
2018 (5)37.1054.7124.32145.419.45-31.1225.82247.0424.71245.1120.06230.4813.33227.520.5218.1836.6253.7451.77-17.4394.23-29.325.7700.04015.33-3.22
2017 (4)23.98236.339.91013.72-17.847.4407.1606.0704.0700.4415.7923.82062.70-58.08133.33314.35-33.3300.00015.84-10.05
2016 (3)7.13-63.73-8.78016.70-6.62-27.280-27.220-24.960-9.1500.3811.76-6.280149.589.3632.18067.82-97.190.00017.6110.41
2015 (2)19.66265.433.45017.886.49-0.150-0.560-0.4500.9400.340.022.32215.7136.78-5.38-2312.5002412.5011153.680.00015.95-2.33
2014 (1)5.380-11.00016.79-9.18-14.010-14.250-12.210-3.8300.349.687.07-38.31144.56-5.8678.5610.2421.44-25.820.00016.33-6.2

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