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)32.31-3.81-4.3812.79-15.91-2.899.03-65.12-12.926.85-68.59-18.451.34-71.67-35.270.97-66.44-23.020.120.0-7.6914.69-52.81-2.0766.33-3.66-23.71141.55140.8211.55-41.55-200.64-54.57.45-6.17-19.28
23Q3 (19)33.590.69-4.9515.21-4.7-15.5525.8951.4-13.021.8195.78-12.34.7381.23-36.422.8975.15-27.20.12-7.69-20.031.1341.24-7.6868.85-15.52-22.6358.78-37.03-2.8441.29520.424.527.946.0112.31
23Q2 (18)33.36-2.08-15.4415.96-7.05-30.6117.1015.62-22.7311.14-3.63-25.682.61-9.06-45.171.65-8.33-38.660.13-7.14-23.5322.0411.14-13.9781.502.37-17.7893.35-19.52-10.26.65141.36268.587.495.231.17
23Q1 (17)34.070.83-18.5917.1730.37-28.3114.7942.62-45.3211.5637.62-44.932.8738.65-54.441.8042.86-51.090.147.69-17.6519.8332.2-35.379.61-8.437.15115.99-8.5931.05-16.0940.17-240.07.12-22.867.23
22Q4 (16)33.79-4.39-19.5113.17-26.87-41.2810.37-65.15-51.088.40-66.22-49.02.07-72.18-56.691.26-68.26-57.00.13-13.33-23.5315.00-55.52-41.1386.94-2.38.03126.89109.7520.0-26.89-168.08-361.149.2330.5511.74
22Q3 (15)35.34-10.42-5.7618.01-21.7-22.6729.7634.4840.1124.8765.9160.147.4456.341.183.9747.5817.460.15-11.76-28.5733.7231.6238.8288.99-10.2333.2260.50-41.8-44.8339.501100.72509.197.0723.8226.48
22Q2 (14)39.45-5.739.2823.00-3.9718.822.13-18.19-14.4214.99-28.59-28.794.76-24.44-21.842.69-26.9-29.770.170.0-5.5625.62-16.41-13.3999.1333.4272.49103.9517.4538.73-3.95-134.35-115.75.71-14.01-18.08
22Q1 (13)41.85-0.3116.1223.956.7826.3927.0527.5951.9720.9927.4456.526.3031.875.493.6825.666.520.170.013.3330.6520.2936.9574.30-7.682.488.51-16.3-16.8911.49297.07277.136.64-19.61-3.35
21Q4 (12)41.9811.9530.0522.43-3.6996.4121.20-0.1968.9216.476.0554.54.78-9.3101.692.93-13.31107.80.17-19.0541.6725.484.939.6980.4820.482.55105.75-3.5616.4-5.8339.59-163.718.2647.76-8.32
21Q3 (11)37.503.8817.6323.2920.399.421.24-17.87171.9615.53-26.22157.125.27-13.46276.433.38-11.75297.650.2116.6790.9124.29-17.8880.0666.8016.23-35.23109.6546.35-26.81-9.65-138.3980.485.59-19.8-37.54
21Q2 (10)36.100.1735.9219.362.16180.1725.8645.28436.5121.0556.97489.646.0969.64625.03.8373.3517.740.1820.050.029.5832.17170.8857.47-20.8-45.3474.93-29.64-47.7825.15487.57157.846.971.460
21Q1 (9)36.0411.6526.1518.9565.9479.7917.8041.83151.0613.4125.8165.543.5951.48178.292.2156.74145.560.1525.07.1422.3822.784.8172.56-7.54-7.64106.4917.22-28.31-6.49-170.8986.636.87-23.75-13.8
20Q4 (8)32.281.2517.1311.42-2.2385.9912.5560.69551.4410.6676.49571.682.3769.29555.771.4165.881510.00.129.09-7.6918.2435.21505.9878.48-23.910.8990.85-39.36141.369.15118.51-97.149.010.673.44
20Q3 (7)31.8820.0324.5811.6869.0326.277.8162.0360.046.0469.1991.141.4066.6748.940.8537.114.860.11-8.33-35.2913.4923.5348.08103.14-1.9131.96149.824.42-20.99-49.46-13.7544.818.95025.0
20Q2 (6)26.56-7.043.276.91-34.44-19.374.82-32.02-59.013.57-29.31-63.20.84-34.88-67.060.62-31.11-64.160.12-14.29-25.010.92-9.83-32.3105.1533.8533.76143.48-3.4196.78-43.4810.43-260.510.00-100.0-100.0
20Q1 (5)28.573.6615.7610.5471.6638.57.09355.04-0.145.05323.45-7.681.29348.08-7.860.901000.0-21.740.147.69-17.6512.11302.333.7778.560.9944.84148.54167.6338.54-48.54-115.19-572.147.97-8.514.35
19Q4 (4)27.567.70.06.14-33.620.0-2.78-156.970.0-2.26-171.520.0-0.52-155.320.0-0.10-113.510.00.13-23.530.03.01-66.960.077.79-0.470.0-219.64-215.840.0319.64456.680.08.7121.650.0
19Q3 (3)25.59-0.510.09.257.930.04.88-58.50.03.16-67.420.00.94-63.140.00.74-57.230.00.176.250.09.11-43.520.078.16-0.570.0189.62160.060.0-89.62-430.840.07.16-3.110.0
19Q2 (2)25.724.210.08.5712.610.011.7665.630.09.7077.330.02.5582.140.01.7350.430.00.16-5.880.016.1338.220.078.6144.930.072.91-32.00.027.09475.050.07.396.030.0
19Q1 (1)24.680.00.07.610.00.07.100.00.05.470.00.01.400.00.01.150.00.00.170.00.011.670.00.054.240.00.0107.220.00.0-7.220.00.06.970.00.0
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)33.37-11.2515.39-21.42.8618.7916.80-25.3712.89-26.0911.65-42.017.41-35.450.51-19.0522.00-16.766.33-23.7191.595.298.41-35.361.44-10.877.495.05
2022 (9)37.60-1.0519.58-7.772.41-1.5422.513.9717.444.5620.090.0511.48-2.380.63-5.9726.413.6186.948.0386.99-11.2813.01573.91.62-27.927.133.78
2021 (8)38.0027.9921.23110.412.45-28.1721.65172.6716.68169.0320.08255.411.76202.310.6731.3725.4988.480.482.5598.05-22.91.9302.240.426.87-19.93
2020 (7)29.6915.1210.0926.123.4126.737.9440.536.2043.525.6523.93.895.710.51-21.5413.5330.9878.480.89127.17-10.31-27.1702.23-8.018.5814.55
2019 (6)25.79-11.448.00-15.972.69240.365.65-36.594.32-39.244.56-48.713.68-40.070.65-14.4710.33-8.3477.7964.01141.7932.7-41.7902.43-15.277.49-9.54
2018 (5)29.12-20.289.52-13.450.79-30.318.91-5.917.1115.058.89-11.16.147.340.76-5.011.27-7.2447.43-56.43106.85-8.03-6.8502.8608.28-25.2
2017 (4)36.5313.9811.0074.881.13-15.229.47101.066.1885.0310.00110.085.7272.810.808.1112.1556.37108.8712.46116.18-13.23-16.1800.00011.07-1.86
2016 (3)32.0512.026.2926.561.348.424.7150.483.3472.164.7663.013.3131.870.74-9.767.7729.0796.818.92133.89-15.58-33.6800.00011.2814.29
2015 (2)28.61-1.314.97-22.591.232.963.13-41.391.94-48.812.92-52.212.51-40.660.82-8.896.02-24.1888.8816.55158.6032.24-58.6000.0009.876.93
2014 (1)28.9906.4201.20-18.675.3403.7906.1104.2300.9018.427.9438.3376.26-8.97119.93-12.02-20.1000.0009.23-2.94

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