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8季
EPS QoQ YoY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
26Q1 (8)-3.28-530.77-45.1399.89-0.060.0-62.19-388.53-2.61-58.81-567.54-31.71-50.94-792.12-20.65-3.75-546.55-56.25-2.55-779.31-15.910.05-28.570.0-5.52-117.67-287.1240.45-2.76442.23105.73-26.53-21.99-5.7386.9583.8873.4469.76-2.24
25Q4 (7)-0.52-405.88-119.9299.95-0.020.0-12.73-146.71-244.0-8.81-955.34-130.48-5.71-415.47-119.9-0.58-405.26-120.86-0.29-238.1-111.370.07-12.5-22.2231.24-8.81-46.0641.606.61317.25143.90129.98366.81-43.90-107.57-162.7943.26-12.6217.62
25Q3 (6)0.17103.05525.099.970.090.03-5.1691.65-192.311.03100.8917.051.81101.79530.950.19103.06575.00.21103.831150.00.0860.00.034.26155.1328.9439.02112.07314.23-480.00-998.96-180.0580.001136.32216.049.51-30.14-2.15
25Q2 (5)-5.58-146.9-262.3499.88-0.01-0.18-61.79-1.95-17.36-116.06-159.93-302.29-101.20-139.7-261.95-6.21-158.75-276.36-5.48-149.09-267.790.050.00.0-62.14-2206.44-566.8718.40146.6580.2253.40-60.6-70.9446.91232.01156.8670.87-5.6611.73
25Q1 (4)-2.26-186.590.099.89-0.060.0-60.61-785.630.0-44.65-254.50.0-42.22-247.160.0-2.40-186.330.0-2.20-186.270.00.05-44.440.02.95-94.910.07.46-25.180.0135.54339.670.0-35.54-150.820.075.12104.240.0
24Q4 (3)2.616625.00.099.950.010.08.8458.140.028.903184.090.028.696930.950.02.787050.00.02.5512850.00.00.0912.50.057.92117.990.09.975.840.030.83-94.860.069.92113.980.036.78-27.310.0
24Q3 (2)-0.0497.40.099.94-0.120.05.59110.620.00.88103.050.0-0.4298.50.0-0.0497.580.0-0.0298.660.00.0860.00.026.5799.620.09.42-7.740.0600.00226.530.0-500.00-506.060.050.60-20.230.0
24Q2 (1)-1.540.00.0100.060.00.0-52.650.00.0-28.850.00.0-27.960.00.0-1.650.00.0-1.490.00.00.050.00.013.310.00.010.210.00.0183.750.00.0-82.500.00.063.430.00.0
營業毛利率,營業利益率,稅前淨利率,股東權益報酬率-近5年
EPS YoY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
2025 (5)-8.20099.93-0.02-28.4005.557.99-32.560-28.090-8.900-6.8800.25-3.859.34-73.2841.60317.2587.32012.89-99.4642.1613.4356.304.11
2024 (4)0.04099.950.03-19.9805.146.580.8400.1400.0400.0800.2630.034.95110.049.97-8.62-2300.0002400.00037.1674.5654.08-14.02
2023 (3)-2.01099.920.0-25.3804.8240.39-9.370-9.620-2.080-1.8600.2011.1116.64-73.3110.9125.11270.710-170.71021.2988.0762.903.06
2022 (2)7.0395.8299.920.1-7.4203.4312.6241.1890.5638.2093.717.2934.56.8434.910.18-28.062.3456.328.7261.18-17.970117.971060.0311.3249.8161.0339.18
2021 (1)3.59337.899.82019.3503.05-26.1921.61019.7205.4205.0700.25-40.4839.8862.055.41-68.8489.83-7.8110.17296.617.56-63.4443.85-6.1

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