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)20.855.843.477.9812.2451.148.38-6.8972.786.74-2.038.533.29-6.817.082.13-6.5820.340.32-3.0314.2910.90-4.39107.6254.23-1.832.1395.2920.1-10.924.71-77.21150.5922.9522.9940.45
23Q3 (19)19.703.4121.67.11-12.2276.439.00-27.4817.496.88-30.5138.993.53-21.217.952.28-20.018.750.3313.79-15.3811.40-23.9520.6355.240.64-15.8179.3522.4252.2220.65-39.72-55.8818.66-3.67-9.68
23Q2 (18)19.0548.1316.948.102512.91073.9112.41690.4593.39.90538.7188.934.48568.6623.422.85562.7939.020.293.57-25.6414.99331.9975.9454.89-7.3-27.7164.81180.86507.6434.26-59.51-61.6519.37-22.3-17.5
23Q1 (17)12.86-36.186.990.31-94.13111.571.57-67.63173.021.55-75.04268.480.67-76.16219.640.43-75.71265.380.280.0-12.53.47-33.93254.5559.2111.51-28.5223.08-78.43-81.5484.621009.62438.4624.9352.5715.74
22Q4 (16)20.1524.3821.835.2831.02157.564.85-36.68137.756.2125.45243.092.81-14.07108.151.77-7.81139.190.28-28.21-30.05.25-44.4450.4353.10-19.07-45.0106.98105.226.98-9.30-119.87016.34-20.91-10.66
22Q3 (15)16.20-0.55-22.234.03484.06-48.137.6619.31-18.164.95-5.53-29.183.27-9.92-37.831.92-6.34-35.790.390.0-9.39.4510.92-13.6265.61-13.59-8.6652.13388.7-36.8346.81-47.6183.620.66-12.0128.0
22Q2 (14)16.2935.52-27.980.69125.75-91.916.42398.6-31.345.24669.57-37.023.63748.21-41.072.05888.46-42.580.3921.88-9.38.527845.45-22.1275.93-8.33-6.1210.67-91.47-88.2889.33457.33892.5923.489.0140.51
22Q1 (13)12.02-27.33-33.41-2.68-230.73-173.22-2.15-205.39-147.99-0.92-150.83-131.62-0.56-141.48-131.28-0.26-135.14-124.530.32-20.0-11.11-0.11-103.15-101.7282.83-14.228.08125.0025.051.52-25.000-242.8621.5417.7719.53
21Q4 (12)16.54-20.6-27.652.05-73.62-76.362.04-78.21-77.331.81-74.11-71.221.35-74.33-76.880.74-75.25-69.550.40-6.982.563.49-68.1-67.2696.5434.424.3100.0021.183.570.00-100.0-100.018.2913.32-0.49
21Q3 (11)20.83-7.91-1.567.77-8.91-29.439.360.11-22.196.99-15.99-29.115.26-14.61-69.222.99-16.25-28.640.430.02.3810.940.0-19.9771.83-11.19-74.6982.52-9.31-9.2216.5083.3999.7116.14-3.416.32
21Q2 (10)22.6225.3214.428.53133.06368.689.35108.7174.778.32185.91156.796.16244.13-0.323.57236.79134.870.4319.44-6.5210.9471.2126.7780.8825.07-72.3691.0010.3167.949.00-48.57-86.3716.71-7.27-23.24
21Q1 (9)18.05-21.0403.66-57.7904.48-50.2202.91-53.7401.79-69.3501.06-56.3800.36-7.6906.39-40.06064.67-16.74082.50-14.55017.50407.5018.02-1.960
20Q4 (8)22.868.0308.67-21.2509.00-25.1906.29-36.2105.84-65.8302.43-42.000.39-7.14010.66-22.02077.67-72.63096.556.2103.45-58.28018.3821.080
20Q3 (7)21.167.03011.01504.95012.03124.8609.86204.32017.09176.5404.19175.6600.42-8.7013.6758.40283.81-3.02090.91167.6808.26-87.49015.18-30.270
20Q2 (6)19.77001.82005.35003.24006.18001.52000.46008.6300292.660033.960066.040021.7700
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)18.3413.76.06224.062.3255.137.9674.566.3559.1511.6521.357.5934.341.19-15.010.3667.154.232.1376.1785.1323.83-59.520.2586.5121.393.13
2022 (9)16.13-17.491.87-66.311.50-0.764.56-28.33.99-21.469.60-32.825.65-26.241.40-6.676.20-22.0153.10-45.041.15-52.8258.85360.450.13-20.9220.7420.16
2021 (8)19.55-8.05.55-22.71.51-28.156.36-27.815.08-21.614.29-26.837.66-3.771.5022.957.95-27.7996.5424.387.226.9712.78-30.760.1742.7817.26-6.3
2020 (7)21.257.167.1818.872.1022.848.8116.076.4813.6819.53-47.67.96-1.491.22-12.8611.0116.6377.67-77.1981.542.7118.46-10.430.12018.423.89
2019 (6)19.8334.536.04100.661.7118.177.5985.575.7087.537.2708.0801.4009.4468.27340.58-13.4279.397.620.61-21.390.00017.73-1.72
2018 (5)14.7403.0101.4504.0903.0400.0000.0000.0005.610393.35073.78026.2200.00018.040

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