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)12.405.1733.763.91-13.1158.942.09-37.823.670.67-64.55-72.20.24-68.0-75.260.39-35.0-51.850.17-5.56-5.569.874.446.59115.40-3.24-0.78186.6740.030.0-86.67-160.0-87.788.5611.921.59
23Q3 (19)11.7926.9188.044.50223.74410.343.36239.39144.81.89397.37123.110.75435.71120.270.6081.82145.450.185.88-10.09.4520.54616.39119.27-0.81-15.03133.33-6.67600.0-33.3322.22-141.187.65-6.595.08
23Q2 (18)9.2946.9932.711.39183.73280.520.99146.26114.450.38119.29105.440.14125.45105.810.333200.0135.110.1730.776.257.8420.81159.46120.245.68-0.86142.8683.671141.07-42.86-292.86-148.438.19-16.433.15
23Q1 (17)6.32-31.82-44.56-1.66-167.48-148.82-2.14-226.63-482.14-1.97-181.74-212.7-0.55-156.7-189.470.01-98.77-75.00.13-27.78-7.146.49-29.91-5.26113.78-2.182.4677.78-45.83-87.6522.22148.15104.279.8039.210.11
22Q4 (16)9.2747.85-11.292.46269.6613.361.69122.53-86.642.41129.46-80.00.97126.22-80.830.81161.36-68.730.18-10.0-14.299.26606.01-39.87116.31-17.13-1.48143.59653.85741.83-46.15-157.01-155.657.04-3.310.34
22Q3 (15)6.27-10.43-47.44-1.45-88.31-130.59-7.50-9.49-289.39-8.18-17.02-420.78-3.70-53.53-485.42-1.32-40.43-316.390.2025.00.0-1.83-147.3-121.73140.3615.7361.3519.0565.48-84.1380.95-8.52504.767.28-8.3118.95
22Q2 (14)7.00-38.6-30.21-0.77-122.65-128.21-6.85-1323.21-268.3-6.99-1009.52-287.9-2.41-1168.42-294.35-0.94-2450.0-223.680.1614.29-5.88-0.74-110.8-107.01121.289.2133.1311.51-98.17-83.0988.49117.02165.477.94-10.7918.51
22Q1 (13)11.409.0933.493.4056.681207.690.56-95.57300.0-0.63-105.2317.11-0.19-103.7520.830.04-98.46300.00.14-33.33-12.56.85-55.5220.39111.05-5.9421.62630.003593.53887.5-520.00-726.94-388.898.9039.523.61
21Q4 (12)10.45-12.41-1.142.17-54.225.8512.65219.44438.312.05372.5530225.05.06427.0850700.02.59324.592254.550.215.031.2515.4082.983.99118.0635.7230.6617.06-85.79-80.3682.94514.72530.376.384.25-23.13
21Q3 (11)11.9318.94-13.34.7473.63-13.973.96-2.7-40.02.55-31.45-52.160.96-22.58-46.070.61-19.74-42.450.2017.6511.118.42-20.27-30.386.99-4.51-2.75120.0076.3344.52-20.00-160.0-217.896.12-8.660
21Q2 (10)10.0317.45-9.882.73950.0-10.24.071553.5716.953.72589.4755.01.24616.6774.650.763900.040.740.176.2513.3310.5685.594.5591.10-0.23-0.1868.06185.07-21.3633.33-81.48147.626.70-6.940
21Q1 (9)8.54-19.2110.620.26-87.32107.41-0.28-111.9195.36-0.76-1800.086.99-0.24-2300.078.95-0.02-118.1894.290.160.060.05.69-32.0229.0291.311.05-8.39-80.00-192.12-237.14180.001268.0332.07.20-13.25-27.2
20Q4 (8)10.57-23.18-12.572.05-62.79-46.892.35-64.39-53.28-0.04-100.75-101.0-0.01-100.56-100.710.11-89.62-87.780.16-11.11-11.118.37-30.71-15.6390.361.02-10.3686.844.5814.1413.16-22.44-42.368.3000
20Q3 (7)13.7623.6347.015.5181.25419.816.6089.66520.385.33122.08439.491.78150.7470.831.0696.32020.00.1820.05.8812.0819.6145.5389.45-1.98-2.2483.04-4.05222.1116.9626.02-90.140.000-100.0
20Q2 (6)11.1344.1735.733.04186.61262.573.48157.62220.422.40141.1182.190.71162.28204.410.54254.29245.950.1550.015.3810.10129.02320.8391.26-8.4414.8186.5448.3533.4113.46-67.69-61.690.00-100.0-100.0
20Q1 (5)7.72-36.1516.27-3.51-190.93-9.35-6.04-220.08-16.15-5.84-245.64-10.82-1.14-180.859.52-0.35-138.8923.910.10-44.44-28.574.41-55.5462.7399.67-1.1228.2158.33-23.33-6.441.6782.5410.589.89010.26
19Q4 (4)12.0929.170.03.86264.150.05.03420.380.04.01355.410.01.41393.750.00.901700.00.00.185.880.09.92101.630.0100.8010.160.076.09211.890.022.83-86.730.00.00-100.00.0
19Q3 (3)9.3614.150.01.06156.680.0-1.5745.670.0-1.5746.230.0-0.4829.410.00.05113.510.00.1730.770.04.92105.00.091.5015.110.0-68.00-204.830.0172.00389.540.07.29-14.340.0
19Q2 (2)8.2023.490.0-1.8741.740.0-2.8944.420.0-2.9244.590.0-0.6846.030.0-0.3719.570.00.13-7.140.02.40-11.440.079.492.250.064.864.090.035.14-6.760.08.51-5.130.0
19Q1 (1)6.640.00.0-3.210.00.0-5.200.00.0-5.270.00.0-1.260.00.0-0.460.00.00.140.00.02.710.00.077.740.00.062.320.00.037.680.00.08.970.00.0
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)10.2022.62.31200.05.1112.841.3100.4100.5701.3400.64-4.488.56169.18115.40-0.78175.930-75.9300.02-48.918.469.73
2022 (9)8.32-19.460.77-69.924.5314.14-3.210-3.510-5.130-1.3900.67-1.473.18-69.54116.31-1.48-24.010124.01124.430.0396.987.7117.53
2021 (8)10.33-7.442.568.473.97-26.65.72134.434.99330.176.96448.033.78200.00.6821.4310.4413.23118.0630.6644.74-53.9555.261458.260.02-47.036.56-14.92
2020 (7)11.1619.492.36594.125.4019.782.4401.1601.2701.26740.00.56-8.29.2270.1190.36-10.3697.1603.55-97.670.03-23.047.710.0
2019 (6)9.344.360.3404.51-14.09-0.660-0.990-1.1300.1500.6110.915.4213.39100.8035.85-52.500152.50154.860.04-26.67.71-3.02
2018 (5)8.95-35.33-0.8905.2533.31-2.210-2.500-2.430-0.6200.55-21.434.78-53.074.20-2.6240.16-56.4759.84673.740.058.827.95-0.62
2017 (4)13.84-31.894.88-46.373.94-6.425.30-43.383.95-45.594.82-37.323.28-37.040.709.3710.17-30.2576.202.6192.27-5.127.73180.330.0508.009.59
2016 (3)20.3235.839.1060.494.2119.559.3665.087.26104.517.69101.845.2171.950.64-11.1114.5845.9574.2635.4697.24-2.762.7600.0007.3014.96
2015 (2)14.96-3.175.67-16.743.5215.965.67-13.173.55-4.573.813.533.036.690.725.889.99-1.8754.8227.87100.00-4.120.0000.0006.358.73
2014 (1)15.4506.8103.0473.716.5303.7203.6802.8400.68-45.610.18-25.1542.87-14.07104.305.36-4.3000.0005.8450.9

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