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)17.97-2.97-16.613.50-42.62-74.890.53-97.67-88.30.20-98.98-78.720.02-99.25-92.590.07-96.39-69.570.07-30.0-58.824.84-81.31-29.7539.87-1.34-39.05600.002113.3396.15-500.00-780.33-142.8621.2517.0259.3
23Q3 (19)18.52-6.233.756.10-33.19-26.5922.70122.55-16.0819.67230.59-11.122.66148.6-60.591.94148.72-52.330.10-16.67-44.4425.89102.27-11.8540.41-3.3-38.2427.11-69.95-11.6973.49576.146.0518.1621.7211.96
23Q2 (18)19.756.934.59.13-10.4-18.3410.2035.82-7.785.9512.69-2.461.07-3.6-36.690.784.0-25.710.12-7.69-25.012.8024.03-6.3641.79-24.29-41.190.22-33.32-10.5310.87130.81404.3514.923.542.4
23Q1 (17)18.47-14.2956.5310.19-26.9130.547.5165.78112.755.28461.790.611.11311.1181.970.75226.0978.570.13-23.530.010.3249.7850.2255.20-15.61-20.05135.29-55.777.54-35.2982.86-36.7614.418.02-0.07
22Q4 (16)21.5520.7364.513.9467.75653.514.53-83.25139.680.94-95.75394.740.27-96.0575.00.23-94.35187.50.17-5.5654.556.89-76.549.7165.41-0.03-5.95305.88896.48205.88-205.88-397.07013.34-17.76-25.6
22Q3 (15)17.85-5.5631.258.31-25.67111.9927.05144.5876.2222.13262.7965.646.75299.4170.034.07287.6265.450.1812.50.029.37114.8561.7365.43-7.78-21.0230.70-69.5621.3669.308416.46-6.4916.2211.32-1.04
22Q2 (14)18.9060.1737.0611.18152.9423.1311.06213.311184.316.10120.22670.091.69177.05612.121.05150.0625.00.1623.08-23.8113.6798.98842.7670.952.7749.94100.83-19.85111.31-0.8396.77-100.0814.571.048.33
22Q1 (13)11.80-9.92-3.674.42138.9215.43.5386.77-38.182.771357.89-34.980.611425.0-46.490.42425.0-46.150.1318.18-27.786.879.39-22.4669.04-0.7342.12125.8125.8185.22-25.810-175.9914.42-19.58-13.08
21Q4 (12)13.10-3.680.081.85-52.81-60.811.89-87.69-76.260.19-98.58-95.770.04-98.99-96.690.08-96.75-90.120.11-38.89-35.296.28-65.42-45.7769.55-16.0422.4100.00295.3567.440.00-100.0-100.017.939.418.66
21Q3 (11)13.60-1.38-10.993.92-56.83-36.5715.351604.931.7613.361348.638.33.971303.0341.282.461330.032.260.18-14.29-5.2618.161152.4122.3782.8475.0650.6225.29102.84-52.4174.12-92.5358.2116.3921.8612.8
21Q2 (10)13.7912.57-15.919.08137.088.48-1.02-117.86-110.69-1.07-125.12-115.16-0.33-128.95-115.35-0.20-125.64-113.070.2116.670.01.45-83.63-88.5447.32-2.59-3.09-891.67-1412.73-1123.77991.672819.918284.0913.45-18.930
21Q1 (9)12.25-6.4273.513.83-18.86205.85.71-28.27361.934.26-5.12326.61.14-5.79445.450.78-3.7425.00.185.8838.468.86-23.49197.3248.58-14.536.8867.9213.73-61.1933.96-15.68150.9416.599.794.21
20Q4 (8)13.09-14.33-14.944.72-23.62-30.997.96-31.673048.154.49-53.52349.441.21-56.94363.040.81-56.45345.450.17-10.53-10.5311.58-21.97206.3556.823.3174.1959.7212.36102.0640.28-14.02-98.6615.113.990
20Q3 (7)15.28-6.83-13.036.18-26.162.6611.6522.123.839.6636.8322.282.8130.76.841.8621.572.20.19-9.52-17.3914.8417.314.3655.0012.6433.1753.15-38.97-0.9446.85296.071.0914.530-17.91
20Q2 (6)16.40132.2910.818.37331.22-4.999.54537.61-1.657.06475.5315.932.15751.52-2.711.53737.5-2.550.2161.54-19.2312.65324.51.6148.8337.592.0587.10-50.23-3.8611.83117.7425.810.00-100.0-100.0
20Q1 (5)7.06-54.13-31.05-3.62-152.92-195.51-2.18-707.41-146.09-1.88-4.44-149.47-0.3328.26-128.21-0.2427.27-128.240.13-31.58-40.912.98-21.16-61.9935.498.84.81175.00106.03115.38-66.67-102.22-420.015.92021.81
19Q4 (4)15.39-12.410.06.8413.620.0-0.27-102.410.0-1.80-122.780.0-0.46-117.490.0-0.33-118.130.00.19-17.390.03.78-73.420.032.62-21.020.0-2900.00-5504.550.03000.006373.680.00.00-100.00.0
19Q3 (3)17.5718.720.06.02-31.670.011.2215.670.07.9029.720.02.6319.00.01.8215.920.00.23-11.540.014.2214.220.041.30-13.690.053.66-40.770.046.34392.90.017.7047.990.0
19Q2 (2)14.8044.530.08.81132.450.09.70105.070.06.0960.260.02.2188.890.01.5784.710.00.2618.180.012.4558.80.047.8541.320.090.6011.510.09.40-54.870.011.96-8.490.0
19Q1 (1)10.240.00.03.790.00.04.730.00.03.800.00.01.170.00.00.850.00.00.220.00.07.840.00.033.860.00.081.250.00.020.830.00.013.070.00.0
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)18.785.397.76-20.081.9612.9510.77-11.438.07-4.55.46-40.463.88-32.050.45-30.7713.87-6.1639.87-39.0572.04-9.6527.9637.950.08-23.8816.6113.22
2022 (9)17.8234.599.7192.281.74-26.9412.16113.338.4589.049.1789.865.7183.60.65-1.5214.7867.7665.41-5.9579.73-9.8520.2775.420.1146.9614.67-7.44
2021 (8)13.24-2.865.055.872.38-25.795.70-26.364.47-20.184.83-15.713.11-22.830.66-7.048.81-22.3869.5522.488.4443.5911.56-69.910.07-51.3115.858.19
2020 (7)13.63-6.194.77-26.053.216.927.7412.835.6027.275.731.964.03-1.470.71-23.6611.3513.1656.8274.1961.60-34.5138.40546.070.1511.1714.655.93
2019 (6)14.5320.286.4530.33.00-17.826.86-1.294.40-2.225.62-9.354.09-8.30.93-6.0610.03-6.3532.62-24.3594.0632.345.94-79.450.14-9.1713.837.79
2018 (5)12.08-13.414.95-7.993.65-10.866.95-3.074.50-15.256.200.654.46-2.190.9915.1210.71-5.9743.1223.271.07-5.2428.9315.720.15012.83-4.47
2017 (4)13.95-9.475.38-22.144.092.547.17-15.355.31-11.26.16-16.534.56-18.430.86-8.5111.39-9.7535.00-0.2875.00-8.1425.0036.190.00013.43-0.59
2016 (3)15.412.876.917.133.997.298.47-6.825.98-0.997.38-9.565.59-10.850.94-6.9312.62-7.4135.1021.5481.6414.9318.36-36.610.00013.51-2.31
2015 (2)14.9811.626.450.03.728.079.0920.886.045.238.16-5.886.270.481.01-5.6113.6316.328.88-24.171.04-17.2928.96101.720.00013.832.29
2014 (1)13.4206.4503.44-10.557.5205.7408.6706.2401.071.911.7213.2438.05-14.7685.891.8814.36-8.520.00013.525.3

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