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)21.75-8.31-32.18-2.02-232.03-114.14-4.89-148.46-142.41-4.68-156.66-167.73-0.97-157.06-146.63-0.68-156.67-147.220.157.14-25.02.11-87.38-87.1735.56-0.5-24.9643.75188.75-65.062.50-26.34367.8629.93-6.150.2
23Q3 (19)23.72-7.05-33.911.53-16.39-91.7510.0955.95-59.668.2680.74-56.621.7055.96-75.951.2055.84-73.970.14-12.5-41.6716.7236.82-42.4635.74-36.62-26.0815.15-43.72-79.5384.8516.11226.6731.89-3.8916.22
23Q2 (18)25.52-23.78-29.661.83-87.47-91.166.47-57.49-73.814.57-59.38-75.521.09-66.77-85.170.77-66.81-83.890.16-20.0-36.012.22-39.71-57.1256.3943.56-7.4226.92-72.01-67.7373.081824.36358.9233.1817.9127.37
23Q1 (17)33.484.42.5114.612.24-14.8115.2232.0-23.7111.2562.81-22.893.2857.69-40.582.3261.11-36.090.200.0-20.020.2723.3-16.2439.28-17.11-18.196.20-23.0412.243.80116.27-73.4228.14-5.7913.74
22Q4 (16)32.07-10.64-2.1714.29-22.96-12.2811.53-53.9-30.836.91-63.71-36.722.08-70.58-57.21.44-68.76-52.480.20-16.67-28.5716.44-43.43-20.1247.39-1.99-19.47125.0068.8628.54-23.33-189.83-1371.6729.878.8627.32
22Q3 (15)35.89-1.0715.9218.55-10.396.6125.011.2650.1219.041.9865.717.07-3.8133.654.61-3.5639.270.24-4.0-17.2429.061.9639.7848.35-20.62-24.2974.03-11.28-28.6725.9763.12650.6527.445.3425.07
22Q2 (14)36.2811.0837.4820.7020.778.9124.7023.81122.5218.6727.96109.37.3533.15100.274.7831.68101.690.250.0-3.8528.5017.7780.9560.9127.03.9683.44-2.65-19.2115.9211.46423.7826.055.316.55
22Q1 (13)32.66-0.3746.2617.155.28225.4319.9519.68216.6714.5933.61211.095.5213.58249.373.6319.8239.250.25-10.7113.6424.2017.5995.7947.96-18.5-12.1985.71-11.864.3514.29678.570.024.745.46-12.42
21Q4 (12)32.785.8870.216.29-6.383441.316.670.061003.9710.92-4.96262.794.86-8.13411.583.03-8.46373.440.28-3.4540.020.58-1.01150.6758.85-7.8510.7797.25-6.29191.741.83138.9-97.2523.466.93-8.04
21Q3 (11)30.9617.3278.5517.4050.39016.6650.093500.011.4928.81698.445.2944.14877.943.3139.66948.720.2911.5426.0920.7932.0273.9263.868.9913.35103.770.480-4.724.09-104.7221.94-1.83-6.12
21Q2 (10)26.3918.1827.6111.57119.54258.211.1076.19255.778.9290.19403.953.67132.28532.762.37121.5478.050.2618.1823.8115.7527.4364.5858.597.270.33103.2825.733.28-4.92-134.43022.35-20.880
21Q1 (9)22.3315.944.35.271045.65290.946.30317.22411.884.6955.81328.781.5866.32409.81.0767.19496.30.2210.037.512.3650.5577.0854.622.82.5782.14146.43-45.2414.29-78.57142.8628.2510.740
20Q4 (8)19.2611.0759.310.460107.681.51408.16122.643.01256.77143.00.95239.71146.340.64264.1151.610.20-13.045.268.2147.66939.2453.13-5.7-2.5733.330-63.7766.67-33.33455.5625.519.16-1.16
20Q3 (7)17.34-16.15-18.550.00-100.0-100.0-0.49-115.71-109.63-1.92-208.47-142.57-0.68-217.24-144.44-0.39-195.12-137.860.239.524.555.56-41.9-49.3256.34-3.53-8.45-0.00-100.0-100.0100.000380.023.370-9.49
20Q2 (6)20.68-3.4124.653.23217.03227.673.12254.46362.181.77186.34185.10.58213.73209.430.41251.85236.670.2131.2523.539.5737.1157.458.409.6712.68100.00-33.33-55.56-0.00100.0100.00.000-100.0
20Q1 (5)21.4177.0933.23-2.7653.9241.53-2.0269.728.6-2.0570.717.66-0.5175.12-2.0-0.2778.2310.00.16-15.790.06.98783.5425.9953.25-2.3521.77150.0063.04-30.0-33.33-377.7870.830.00-100.0-100.0
19Q4 (4)12.09-43.210.0-5.99-246.810.0-6.67-231.040.0-7.00-255.210.0-2.05-233.990.0-1.24-220.390.00.19-13.640.00.79-92.80.054.53-11.390.092.0016.210.012.00-42.40.025.81-0.040.0
19Q3 (3)21.2928.330.04.08261.260.05.09527.730.04.51316.830.01.53388.680.01.03443.330.00.2229.410.010.9780.430.061.5418.730.079.17-64.810.020.83116.670.025.82-18.570.0
19Q2 (2)16.593.240.0-2.5346.40.0-1.1946.150.0-2.086.310.0-0.53-6.00.0-0.300.00.00.176.250.06.089.750.051.8318.520.0225.005.00.0-125.00-9.380.031.71-9.610.0
19Q1 (1)16.070.00.0-4.720.00.0-2.210.00.0-2.220.00.0-0.500.00.0-0.300.00.00.160.00.05.540.00.043.730.00.0214.290.00.0-114.290.00.035.080.00.0
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)26.96-21.495.15-71.125.5737.447.70-62.775.58-63.175.31-75.93.87-73.370.67-29.4713.61-45.3635.56-24.9666.39-23.0932.79139.780.1420.2130.5813.55
2022 (9)34.3419.5717.8333.664.05-8.0520.6855.1415.1561.1722.0344.7414.5347.210.95-8.6524.9139.2447.39-19.4786.33-13.9613.6700.12-29.8226.9313.68
2021 (8)28.7247.1313.343076.194.41-32.1813.331889.559.403257.1415.224376.479.872430.771.0430.017.89138.2258.8510.77100.3357.660.0000.17-74.823.69-12.87
2020 (7)19.5216.260.4206.50-1.370.6700.2800.3400.3900.805.267.5121.1353.13-2.5763.64-70.4536.3600.66-18.5427.19-6.79
2019 (6)16.79-10.17-1.8506.5912.82-0.870-1.340-1.520-0.7900.76-1.36.20-61.2754.5317.65215.380-115.3800.81320.8629.17-13.9
2018 (5)18.69-13.35-2.9105.84-0.599.82305.797.891132.818.721163.776.22936.670.770.016.0187.4746.3511.63-29.330129.3300.19033.8817.15
2017 (4)21.579.553.4632.065.87-9.442.42-15.680.64-68.160.69-67.910.60-63.860.77-1.288.54-11.3241.5211.19145.7159.93-42.8600.00028.92-2.63
2016 (3)19.69-2.282.62-10.276.49-2.272.87-28.612.01-39.462.15-39.271.66-36.880.782.639.63-12.337.341.5591.1126.08.89-67.90.00029.700.64
2015 (2)20.15-2.562.92-12.846.64-8.264.02-24.863.32-22.073.54-23.542.63-22.190.762.710.98-16.2536.77-15.7272.3116.527.69-24.710.00029.512.18
2014 (1)20.6803.3507.24-16.985.3504.2604.6303.3800.744.2313.11-2.3143.63-10.9462.0718.536.78-22.760.00028.8820.79

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