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)1.58-93.71-88.1110.22105.63293.086.45-54.74532.895.87-47.21573.391.58-59.07476.190.56-51.72900.00.09-10.012.58.33-46.220172.18-21.37-38.18152.63332.46184.8-57.89-189.47-120.6813.5817.68-0.88
23Q3 (19)25.1256.32158.174.9713.99112.3914.2558.16-23.1811.1252.75-25.523.8661.51-39.021.1670.59-25.160.1011.110.015.4948.09-21.96218.97-15.5-32.435.29-26.89194.1264.7125.1-25.3411.54-10.68-5.56
23Q2 (18)16.07-19.57-20.954.36-57.92-57.469.01-19.98-53.567.28-17.74-52.972.39-22.15-62.830.68-20.0-55.840.090.0-10.010.46-18.47-49.35259.14-6.82-18.4448.28-46.21-9.851.72572.418.0112.926.34-3.65
23Q1 (17)19.9850.34-20.5910.36298.46-35.6511.26855.7-64.148.85813.71-64.673.07830.95-71.250.851314.29-65.310.0912.5-10.012.830-60.84278.10-0.14-16.8589.74149.8674.687.69-97.25-84.1812.15-11.31-8.09
22Q4 (16)13.2936.59-36.742.6011.11-60.43-1.49-108.03-135.9-1.24-108.31-137.69-0.42-106.64-139.25-0.07-104.52-124.140.08-20.00.00.00-100.0-100.0278.50-14.03-21.21-180.00-1600.0-212.5280.00223.08566.6713.7012.11-29.56
22Q3 (15)9.73-52.14-62.182.34-77.17-86.2618.55-4.384.0414.93-3.556.646.33-1.566.571.550.652.650.100.0-9.0919.85-3.873.17323.941.953.412.00-77.58-87.3386.6780.981546.6712.22-8.87-3.63
22Q2 (14)20.33-19.23.8310.25-36.34-31.1219.40-38.2291.715.48-38.275.716.43-39.7911.251.54-37.14-8.880.100.0-47.3720.65-36.9789.1317.74-5.09.3653.524.18-63.8247.89-1.51199.9413.411.4465.15
22Q1 (13)25.1619.75-11.8116.10145.0524.931.40656.6399.2425.05661.496.7810.68898.13175.262.45744.8384.210.1025.00.032.76439.785.08334.46-5.3864.8251.38-67.89-37.2148.62181.04167.4313.22-32.03-26.1
21Q4 (12)21.01-18.34-12.286.57-61.42-47.314.15-76.72-47.63.29-76.5-48.431.07-81.99-65.920.29-80.79-70.710.08-27.27-46.676.07-68.45-33.66353.4712.8385.0160.0068.890.57-60.00-1240.0-1.5419.4553.3941.04
21Q3 (11)25.7331.413.5817.0314.4536.917.8376.19166.5214.0058.91211.115.942.77195.521.51-10.65143.550.11-42.11-15.3819.2476.19126.62313.287.8316.6694.74-35.95-48.995.26110.98106.1412.6856.16-20.25
21Q2 (10)19.58-31.37-20.5714.8815.44-8.210.12-35.79-15.18.81-30.791.385.7848.9710.11.6927.07-3.430.1990.0-5.010.92-38.31-17.83290.5443.1825.5147.9280.799.33-47.92-363.54-35.768.12-54.61-31.53
21Q1 (9)28.5319.128.4412.893.371.4215.7698.999.5212.7399.5313.363.8823.57-13.391.3334.34-19.880.10-33.33-33.3317.7093.446.76202.926.215.2481.82-48.57-7.9518.18130.7763.6417.8929.73-0.78
20Q4 (8)23.95-3.58-23.912.470.24-30.997.9218.39-40.856.3841.78-41.953.1456.22-37.820.9959.68-46.490.1515.38-11.769.157.77-39.2191.07-28.8511.63159.09-14.3420.39-59.0931.06-65.4513.79-13.27-19.12
20Q3 (7)24.840.77-13.8712.44-23.26-10.316.69-43.88-50.994.50-48.22-57.92.01-61.71-62.080.62-64.57-66.670.13-35.0-23.538.49-36.12-44.03268.5415.9949.98185.7137.2785.71-85.71-142.86015.9034.06-14.29
20Q2 (6)24.65-6.31-9.0716.2127.5420.4311.92-17.16-30.468.69-22.62-29.125.2517.19-5.911.755.42-8.850.2033.3333.3313.29-19.84-29.12231.5131.4719.55135.2952.2171.72-35.29-417.65-266.3911.86-34.22-30.11
20Q1 (5)26.31-16.4-1.0912.71-29.66-4.6514.397.47-20.9311.232.18-23.194.48-11.29-24.711.66-10.27-10.750.15-11.7625.016.5810.17-17.59176.092.87-9.3888.89-32.7319.8111.11131.11-56.9418.035.75-5.11
19Q4 (4)31.479.120.018.0730.280.013.39-1.90.010.992.810.05.05-4.720.01.85-0.540.00.170.00.015.05-0.790.0171.17-4.40.0132.1432.140.0-35.7100.017.05-8.090.0
19Q3 (3)28.846.380.013.873.050.013.65-20.360.010.69-12.810.05.30-5.020.01.86-3.120.00.1713.330.015.17-19.090.0179.05-7.540.0100.0026.920.0-0.00-100.00.018.559.310.0
19Q2 (2)27.111.920.013.460.980.017.14-5.820.012.26-16.140.05.58-6.220.01.923.230.00.1525.00.018.75-6.810.0193.65-0.340.078.796.190.021.21-17.80.016.97-10.680.0
19Q1 (1)26.600.00.013.330.00.018.200.00.014.620.00.05.950.00.01.860.00.00.120.00.020.120.00.0194.310.00.074.190.00.025.810.00.019.000.00.0
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)16.36-3.317.38-4.031.0729.6710.45-39.248.42-38.7610.59-53.273.40-40.140.39-2.511.98-35.63172.18-38.1870.8058.0429.20-47.110.07153.5412.49-4.66
2022 (9)16.92-26.187.69-42.830.82-20.6917.2045.2713.7541.922.6635.285.6824.560.40-13.0418.6140.24278.50-21.2144.80-60.5355.2000.03-6.8113.10-0.46
2021 (8)22.92-7.6213.45-1.251.04-16.0911.8417.469.6927.6716.7529.044.56-2.980.46-23.3313.2714.79353.4785.0113.51-15.72-13.5100.03-44.0113.16-9.24
2020 (7)24.81-13.3113.62-7.721.24-12.310.08-34.677.59-36.812.98-40.164.70-32.950.603.4511.56-32.28191.0711.63134.6940.55-34.6900.05-68.214.50-18.81
2019 (6)28.62-12.5814.764.381.4126.4815.43-16.9512.01-16.7721.69-11.437.01-13.560.585.4517.07-15.75171.17-34.1695.8324.914.17-82.740.16017.86-12.92
2018 (5)32.7441.0614.1442.251.129.2518.58126.3114.43119.9724.4974.88.1138.40.55-37.520.26113.49259.9874.3176.72-36.8224.1400.00020.5126.37
2017 (4)23.2116.349.94335.961.02-29.788.2111.856.5615.714.0186.85.8675.450.8851.729.496.15149.157.81121.43286.36-21.4300.00016.23-25.0
2016 (3)19.954.672.2844.31.46-18.57.34280.315.6707.5003.3400.58-4.928.94127.48138.3517.1931.43-61.5968.57277.140.00021.6422.12
2015 (2)19.0601.5801.7901.930-1.910-2.440-1.0200.6103.930118.0613.981.82018.1800.00017.720
2014 (1)0.0000.0000.0000.0000.0000.0000.0000.0000.000103.6500.0000.0000.0000.000

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