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)32.3018.8418.1415.8055.9734.715.7054.8329.8612.8158.1532.475.5470.9925.624.0271.0629.680.3110.71-3.1321.8027.4123.1639.50-0.2-14.22101.521.525.350.000-100.024.70-13.150.94
23Q3 (19)27.185.921.8410.1351.42-6.0310.1471.28-19.278.1071.61-19.43.2470.53-21.172.3578.03-19.240.283.70.017.1130.51-10.2839.58-4.23-8.08100.00-8.3316.670.00100.0-100.028.44-3.239.51
23Q2 (18)25.6614.81-4.616.69103.34-32.765.92112.19-43.024.72110.71-42.931.90153.33-43.281.32140.0-41.850.2722.730.013.1120.94-25.3841.33-27.54-6.83109.09-10.7412.04-13.6438.64-359.0929.39-7.6713.83
23Q1 (17)22.35-18.25-11.453.29-71.95-53.072.79-76.92-63.242.24-76.84-63.10.75-82.99-64.450.55-82.26-61.270.22-31.25-4.3510.84-38.76-33.1357.0423.87-0.45122.2226.8332.85-22.22-711.11-377.7831.8330.0812.28
22Q4 (16)27.342.44-3.7711.738.81-3.312.09-3.7411.029.67-3.78-48.754.417.3-42.653.106.53-39.920.3214.2918.5217.70-7.18-2.9146.056.94-6.596.3612.42-13.893.64-74.55130.5524.47-5.78-4.79
22Q3 (15)26.69-0.7811.4410.788.3484.9112.5620.89123.0910.0521.52122.844.1122.69153.72.9128.19164.550.283.721.7419.078.5430.2643.06-2.93-16.9885.71-11.97-18.814.29171.43357.1425.970.58-5.43
22Q2 (14)26.906.586.329.9541.9445.4710.3936.8968.48.2736.2469.123.3558.7784.072.2759.8689.170.2717.3917.3917.578.3917.644.36-22.58-21.6797.375.84-11.485.26-34.21152.6325.82-8.92-6.35
22Q1 (13)25.24-11.162.147.01-42.2121.497.59-30.327.996.07-67.8327.522.11-72.5626.351.42-72.4830.280.23-14.814.5516.21-11.085.457.3016.35-6.3192.00-17.79-8.08.00167.2028.3510.31-3.01
21Q4 (12)28.4118.620.612.13108.06-10.1510.8993.43-15.7118.87318.484.17.69374.6974.775.16369.0988.320.2717.393.8518.2324.52-11.6349.25-5.05-23.19111.906.027.52-11.90-114.29-191.6725.70-6.419.69
21Q3 (11)23.95-5.34-2.175.83-14.77-15.145.63-8.75-4.414.51-7.77-2.171.62-10.99-11.481.10-8.33-6.780.230.0-4.1714.64-2.01-1.3551.87-8.41-19.1105.56-4.04-8.21-5.5644.4462.9627.46-0.42.96
21Q2 (10)25.302.3930.826.8418.54581.696.174.05969.014.892.73943.11.828.981057.891.2010.092500.00.234.5515.014.94-2.8636.4456.63-7.41-11.86110.0010.0-45.0-10.00090.027.57-5.680
21Q1 (9)24.71-12.529.375.77-57.26280.315.93-54.1285.894.76-53.56290.41.67-62.05325.681.09-60.22372.50.22-15.3815.7915.38-25.4569.261.16-4.626.09100.00-3.920.00.00100.0029.2324.75-11.67
20Q4 (8)28.2415.367.513.5096.5129.5612.92119.3524.4710.25122.3422.754.40140.4429.792.74132.225.110.268.334.020.6339.026.3464.120.07.62104.08-9.494.08-4.0872.79023.43-12.15-3.94
20Q3 (7)24.4826.5817.696.87583.8445.245.89929.58205.184.61894.83188.121.831063.16226.791.182460.0187.80.2420.014.2914.8435.5317.9764.12-0.25.74115.00-42.572.5-15.0085.0-145.026.670-6.16
20Q2 (6)19.341.26-9.46-1.4255.62-144.94-0.7177.74-121.19-0.5876.8-124.68-0.1974.32-121.84-0.0587.5-108.470.205.26-9.0910.9520.46-18.2264.2511.45-10.94200.00100.0100.0-100.000-1200.00.00-100.0-100.0
20Q1 (5)19.10-27.291.98-3.20-130.7114.67-3.19-130.7332.42-2.50-129.9446.58-0.74-121.8351.63-0.40-118.2654.020.19-24.0-5.09.09-53.1432.5157.65-3.24-9.27100.000.027.27-0.000-100.033.0935.678.6
19Q4 (4)26.2726.30.010.42726.980.010.38437.820.08.35421.880.03.39505.360.02.19434.150.00.2519.050.019.4054.210.059.58-1.750.0100.0050.00.0-0.00-100.00.024.39-14.180.0
19Q3 (3)20.80-2.620.01.26-60.130.01.93-42.390.01.60-31.910.00.56-35.630.00.41-30.510.00.21-4.550.012.58-6.050.060.64-15.940.066.67-33.330.033.33266.670.028.426.840.0
19Q2 (2)21.3614.040.03.16184.270.03.35170.970.02.35150.210.00.87156.860.00.59167.820.00.2210.00.013.3995.190.072.1413.530.0100.0027.270.09.09-57.580.026.60-12.70.0
19Q1 (1)18.730.00.0-3.750.00.0-4.720.00.0-4.680.00.0-1.530.00.0-0.870.00.00.200.00.06.860.00.063.540.00.078.570.00.021.430.00.030.470.00.0
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)27.212.229.40-6.566.671.459.08-16.247.33-15.3610.80-19.047.73-16.071.03-0.9616.11-9.3439.50-14.22103.7011.73-3.7000.146.0128.359.04
2022 (9)26.623.4610.0627.996.58-18.810.8447.898.66-1.1413.346.389.2112.041.0414.2917.7711.7646.05-6.592.81-13.317.1900.14-34.0526.00-5.11
2021 (8)25.7310.157.8659.118.10-13.277.3357.38.76138.0412.54147.348.22143.20.917.0615.909.4349.25-23.19107.070.16-7.0700.2051.2327.40-2.49
2020 (7)23.366.284.9458.339.34-3.094.6650.813.6866.525.0761.983.3851.570.85-3.4114.539.4164.127.62106.906.9-6.9000.1498.128.102.89
2019 (6)21.98-4.893.12-35.679.6424.163.09-42.352.21-46.753.13-50.942.23-46.650.88-6.3813.28-2.3559.58-4.84100.009.860.0000.07-47.7127.317.77
2018 (5)23.11-10.254.85-28.047.763.875.36-26.784.15-35.666.38-37.394.18-34.170.940.013.60-11.0562.61-1.1791.03-1.478.9717.790.13025.34-1.48
2017 (4)25.7510.236.7453.887.47-4.377.32258.826.45632.9510.19633.096.35438.140.943.315.2946.0463.35-14.0892.38-57.67.6200.00025.720.08
2016 (3)23.36-3.194.38-15.287.81-2.012.04-59.20.88-73.891.39-73.471.18-65.70.915.8110.47-24.6873.73-4.07217.86108.65-117.8600.00025.701.34
2015 (2)24.13-9.465.17-25.57.9717.945.00-35.93.37-53.395.24-61.53.44-53.70.86-8.5113.90-11.0776.86-7.02104.4117.07-2.9400.00025.367.91
2014 (1)26.6506.9406.76-16.127.8007.23013.6107.4300.941.0815.63130.1982.66-34.0689.19010.81-96.040.00023.50-4.86

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