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
EPS QoQ YoY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
24Q4 (20)1.14100.0185.017.3027.5852.6915.0061.12107.1823.95120.13149.2219.08112.24201.92.01116.13200.01.33104.62171.430.060.00.042.06130.09135.3761.98-2.84-17.9162.61-26.84-16.8637.39158.551.425.510.0-7.08
24Q3 (19)0.57-55.12-30.4913.564.390.899.3112.714.2610.88-52.32-30.668.99-49.47-28.820.93-53.03-33.570.65-47.58-27.780.060.00.018.28-39.07-22.4863.79-9.11-15.2385.58136.3750.4714.46-77.34-66.465.510.92-7.86
24Q2 (18)1.2742.70.7912.9932.01-14.098.2644.15-31.422.8212.19-8.4317.7912.81-10.291.9835.62-17.841.2433.33-12.680.0620.0-14.2930.002.04-6.7570.18-9.62-14.436.2128.38-25.0463.81-11.1523.435.46-14.42-10.34
24Q1 (17)0.89122.59.889.84-13.15-4.475.73-20.86-24.5120.34111.6522.8315.77149.539.511.46117.91-3.950.9389.8-1.060.05-16.67-16.6729.4064.5218.1777.652.85-9.0928.20-62.55-38.4671.83190.8932.656.387.594.42
23Q4 (16)0.40-51.22122.2211.33-15.749.477.24-18.9263.439.61-38.75124.536.32-49.96140.30.67-52.1491.430.49-45.5658.060.060.0-14.2917.87-24.2262.975.500.33-0.6675.3132.4-27.2824.69-42.74792.715.93-0.8418.36
23Q3 (15)0.82-34.92-38.3513.44-11.115.668.93-25.83-2.1915.69-37.04-32.6312.63-36.31-38.661.40-41.91-43.780.90-36.62-38.780.06-14.29-14.2923.58-26.7-22.2675.25-8.22-1.8956.8817.7645.1343.12-16.59-29.095.98-1.816.03
23Q2 (14)1.2655.56-6.6715.1246.8-10.812.0458.63-2.7524.9250.488.5819.8337.712.692.4158.55-6.231.4251.06-6.580.0716.67-12.532.1729.311.1681.99-4.0-1.5648.305.4-10.4551.70-4.5112.276.09-0.3314.04
23Q1 (13)0.81350.06.5810.3035.88-29.167.5971.33-36.9616.56286.92-1.3114.40447.538.431.52334.293.40.94203.233.30.06-14.290.024.88126.84.6385.4112.3822.1445.82-55.75-36.1454.151619.0191.696.1121.96-3.17
22Q4 (12)0.18-86.47-85.67.58-40.41-65.644.43-51.48-76.074.28-81.62-78.542.63-87.23-83.840.35-85.94-86.330.31-78.91-79.470.070.0-22.2210.97-63.83-56.6176.00-0.910.16103.56164.2711.6-3.56-105.86-149.615.01-11.17-0.2
22Q3 (11)1.33-1.4827.8812.72-24.96-33.49.13-26.25-39.0123.291.4812.7320.596.6327.332.49-3.1111.661.47-3.2913.080.07-12.5-12.530.334.812.1776.70-7.910.4539.19-27.34-45.9260.8132.05120.815.645.625.82
22Q2 (10)1.3577.63-6.2516.9516.57-34.7812.382.82-44.2622.9536.77-19.4219.3145.41-14.022.5774.83-18.931.5267.03-16.940.0833.330.028.9421.7-15.983.2919.1-3.5953.93-24.84-30.8446.0563.03109.335.34-15.370.75
22Q1 (9)0.76-39.2-25.4914.54-34.09-36.9712.04-34.95-38.8516.78-15.85-33.1213.28-18.38-34.771.47-42.58-34.380.91-39.74-32.590.06-33.330.023.78-5.93-27.1769.93-7.84-1.9971.75-22.68-8.5728.25293.1231.256.3125.7-5.26
21Q4 (8)1.2520.19-10.7122.0615.5-29.518.5123.65-32.2519.94-3.48-33.9116.270.62-32.152.5614.8-25.581.5116.15-24.120.0912.512.525.28-6.51-30.3875.88-0.631.3592.8028.072.497.19-73.91-24.065.02-5.82-12.54
21Q3 (7)1.04-27.78-33.7619.10-26.51-35.5614.97-32.6-42.7120.66-27.46-41.1116.17-28.01-43.242.23-29.65-40.851.30-28.96-38.680.080.014.2927.04-21.42-35.776.36-11.61-5.9772.46-7.09-2.7327.5425.197.975.330.57-7.3
21Q2 (6)1.4441.18-3.3625.9912.66-20.4222.2112.8-16.0628.4813.51-24.5422.4610.31-19.473.1741.52-9.691.8335.56-8.040.0833.3314.2934.415.39-23.8286.3921.080.7777.99-0.6311.2122.002.21-26.365.30-20.420
21Q1 (5)1.02-27.14325.023.07-26.2712.3719.69-27.9327.9425.09-16.84110.1320.36-15.1136.742.24-34.88234.331.35-32.16181.250.06-25.050.032.65-10.0835.3171.35-4.7-14.0278.48-13.32-39.1421.52127.46174.56.6616.030
20Q4 (4)1.40-10.830.031.295.570.027.324.550.030.17-14.00.023.98-15.830.03.44-8.750.01.99-6.130.00.0814.290.036.31-13.650.074.87-7.810.090.5421.540.09.46-62.910.05.74-0.170.0
20Q3 (3)1.575.370.029.64-9.250.026.13-1.250.035.08-7.050.028.492.150.03.777.410.02.126.530.00.070.00.042.05-6.910.081.21-5.270.074.496.220.025.51-14.610.05.7500.0
20Q2 (2)1.49520.830.032.6659.080.026.4671.930.037.74216.080.027.89224.30.03.51423.880.01.99314.580.00.0775.00.045.1787.190.085.733.310.070.13-45.620.029.87203.40.00.0000.0
20Q1 (1)0.240.00.020.530.00.015.390.00.011.940.00.08.600.00.00.670.00.00.480.00.00.040.00.024.130.00.082.980.00.0128.950.00.0-28.890.00.00.000.00.0
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
EPS YoY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
2024 (10)3.8617.6813.577.369.737.635.624.2319.5515.8215.4615.26.388.324.1810.580.24-4.029.1717.6761.98-17.9149.76-7.0450.248.111.961.95.69-5.64
2023 (9)3.28-9.6412.64-2.029.04-3.935.409.816.881.213.42-2.895.89-14.763.78-11.060.25-10.7124.796.2675.50-0.6653.53-5.0946.476.581.92-8.276.038.84
2022 (8)3.63-22.7712.90-42.729.41-49.974.910.2216.68-28.513.82-25.866.91-30.974.25-28.450.28-9.6823.33-20.9776.000.1656.40-30.0543.60125.132.09-4.745.540.73
2021 (7)4.700.022.52-22.8218.81-23.574.90-15.3223.33-22.7518.64-20.6510.01-9.585.94-10.410.3114.8129.52-22.0175.881.3580.63-1.0319.374.522.20-9.985.50-8.03
2020 (6)4.70-15.4729.188.2724.615.995.7913.9630.201.0423.490.3411.07-18.246.63-19.340.27-18.1837.85-1.0574.87-0.7681.474.8418.53-16.882.443.75.989.12
2019 (5)5.5657.0626.959.0723.229.535.08-6.4429.8925.6423.4134.6213.5438.598.2233.230.330.038.2521.4775.44-0.1377.71-12.822.29104.842.3577.925.480.55
2018 (4)3.54103.4524.7169.3621.2098.695.43-21.7923.7995.1617.3981.99.77110.116.1784.180.3313.7931.4942.175.548.7589.121.8410.88-12.91.32-28.185.45-8.4
2017 (3)1.7438.114.593.5510.674.36.94-19.2512.1914.689.5624.484.6546.693.3540.760.2920.8322.16-0.469.46-0.187.50-9.0712.50231.71.8405.95-11.85
2016 (2)1.26-18.7114.0932.310.2367.988.605.5610.633.47.683.233.171.62.384.390.240.022.254.5669.53-6.5696.2362.313.77-90.750.0006.75-0.74
2015 (1)1.55-47.9910.6506.0908.1512.4410.2807.4403.1202.2800.24-14.2921.28-22.5174.41-0.6159.29-1.3840.712.090.0006.8021.43

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