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
24Q3 (20)0.23-4.1727.7828.30-0.88-4.913.9541.58-21.949.69-10.0346.66.83-33.0419.21.40-8.513.820.95-5.9413.10.1137.50.013.70-16.028.8883.422.53-8.6740.6154.06-46.5259.39-20.19156.5811.47-21.44-5.28
24Q2 (19)0.2450.0500.028.55-0.28-3.322.79-31.11-1.7610.7724.08210.3710.2041.08359.461.5340.37350.01.0131.17158.970.080.00.016.3114.5472.0581.36-3.98-6.0826.36-43.36-68.0574.4239.19325.2514.60-1.026.41
24Q1 (18)0.16220.023.0828.630.15.574.05209.76-1.78.68176.4322.087.23140.220.51.09186.8417.20.77102.6311.590.0814.290.014.2442.8312.6684.73-0.74-0.8546.53139.89-19.5353.47-74.9426.7914.75-31.177.98
23Q4 (17)0.05-72.22266.6728.60-3.93.29-3.69-172.9224.233.14-52.5167.823.01-47.47337.010.38-69.11337.50.38-54.76322.220.07-36.360.09.97-6.21377.0385.36-6.552.87-116.67-253.66-209.22213.33821.64793.3321.4376.9614.91
23Q3 (16)0.18350.0-65.3829.760.78-1.165.0678.17-26.456.6190.49-62.745.73158.11-64.81.23261.76-65.930.84115.38-59.220.1137.5-8.3310.6312.13-51.0191.345.441.4275.93-7.9795.6323.1532.28-62.1712.11-11.731.0
23Q2 (15)0.04-69.23200.029.538.89-6.222.84-31.07-25.853.47-51.2698.282.22-63.0239.620.34-63.44241.670.39-43.48680.00.080.00.09.48-25.076.8786.631.37-7.6582.5042.66111.7917.50-58.5-97.8613.720.44-8.1
23Q1 (14)0.13533.3330.027.12-2.06-9.784.12184.6-28.17.11253.5618.36.00572.4423.710.93681.2527.40.69666.6725.450.0814.290.012.64504.7815.2285.462.990.1157.83-45.86-39.542.171027.71855.8213.66-26.76-2.08
22Q4 (13)-0.03-105.7780.027.69-8.043.48-4.87-170.78-29.87-4.63-126.10.43-1.27-107.882.74-0.16-104.4382.610.09-95.63129.030.07-41.670.02.09-90.37-15.7382.98-7.86-4.68106.82175.2331.23-4.55-107.43-124.4318.6555.551.19
22Q3 (12)0.521400.0188.8930.11-4.38-2.596.8879.6348.617.743158.62146.7316.281123.9160.063.611604.17179.842.064020.0142.350.1250.09.0921.70304.8589.3590.06-4.0-2.0838.81105.54-39.5761.19-92.5171.0111.99-19.69-6.91
22Q2 (11)-0.04-140.0-117.3931.494.76-6.943.83-33.16-39.69-0.58-109.65-105.08-1.59-132.78-115.93-0.24-132.88-114.810.05-90.91-95.10.080.0-11.115.36-51.14-68.5893.819.893.18-700.00-832.31-1350.67816.6718411.111723.8914.937.038.58
22Q1 (10)0.10166.67-28.5730.0612.33-4.785.73252.82.146.01229.25-22.754.85165.9-27.40.73179.35-29.810.55277.42-23.610.0814.290.010.97342.34-18.285.37-1.93-4.2395.5917.4431.054.41-76.29-84.3813.95-24.31-4.71
21Q4 (9)-0.15-183.33-275.026.76-13.43-11.83-3.75-180.9942.13-4.65-164.67-116.28-7.36-217.57-308.89-0.92-171.32-318.18-0.31-136.47-542.860.07-36.3616.672.48-78.36-62.5987.05-5.35-7.981.4026.74-72.8718.60-48.0109.318.4343.09-21.94
21Q3 (8)0.18-21.74-50.030.91-8.66-7.344.63-27.09-46.17.19-36.99-48.316.26-37.27-44.061.29-20.37-53.60.85-16.67-45.860.1122.22-8.3311.46-32.83-35.1891.971.15-9.9464.2214.743.3935.78-20.09-6.6412.88-6.3324.44
21Q2 (7)0.2364.29130.033.847.19-3.786.3513.1920.4911.4146.6668.799.9849.482.121.6255.7788.371.0241.6764.520.0912.512.517.0627.2232.9790.922.0-7.7255.97-23.27-29.2544.7858.58100.013.75-6.080
21Q1 (6)0.14450.0180.031.574.02-1.935.61186.57-15.777.78461.86169.26.68471.11187.931.04572.73147.620.72928.5775.610.0833.33-11.1113.41102.2659.2689.14-5.69-12.9972.94-75.69-68.7428.24114.12121.6714.64-37.990
20Q4 (5)-0.04-111.1160.030.35-9.026.19-6.48-175.44-157.14-2.15-115.4664.93-1.80-116.0965.84-0.22-107.9168.570.07-95.54146.670.06-50.0-14.296.63-62.5156.9894.52-7.44-5.73300.00382.98609.09-200.00-621.84-435.4823.61128.120
20Q3 (4)0.36260.00.033.36-5.150.08.5963.00.013.91105.770.011.19104.20.02.78223.260.01.57153.230.00.1250.00.017.6837.80.0102.123.640.062.11-21.480.038.3371.190.010.3500.0
20Q2 (3)0.10100.00.035.179.260.05.27-20.870.06.76133.910.05.48136.210.00.86104.760.00.6251.220.00.08-11.110.012.8352.380.098.53-3.830.079.10-66.10.022.39117.180.00.0000.0
20Q1 (2)0.05150.00.032.1912.630.06.66364.290.02.89147.150.02.32144.020.00.42160.00.00.41373.330.00.0928.570.08.42226.360.0102.452.170.0233.33451.520.0-130.30-318.570.00.0000.0
19Q4 (1)-0.100.00.028.580.00.0-2.520.00.0-6.130.00.0-5.270.00.0-0.700.00.0-0.150.00.00.070.00.02.580.00.0100.270.00.042.310.00.059.620.00.00.000.00.0
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
2023 (10)0.41-26.7928.85-3.612.63-26.332.63-2.025.32-15.824.44-25.882.89-25.132.33-16.190.350.010.69-7.285.362.8749.43-12.4250.5716.090.04-26.4314.651.38
2022 (9)0.5636.5929.93-3.393.57-1.922.69-4.836.324.295.9929.933.8626.562.7819.830.350.011.52-0.0982.98-4.6856.44-6.4943.568.910.060.614.45-1.03
2021 (8)0.41-12.7730.98-5.893.64-22.222.82-0.566.06-9.824.61-14.633.05-18.672.32-12.780.350.011.53-6.4987.05-7.960.35-13.3940.0031.910.06-14.314.60-1.82
2020 (7)0.47370.032.924.284.6858.642.84-6.726.72328.035.40269.863.75264.082.6698.510.350.012.3360.1394.52-5.7369.68-63.0530.3200.07-20.9114.874.42
2019 (6)0.100.031.57-1.162.9590.323.045.241.5716.31.460.691.031.981.34-5.630.350.07.700.52100.27-0.38188.5763.24-88.5700.09-36.8514.24-2.53
2018 (5)0.10-62.9631.941.531.5502.89-9.841.35-63.111.45-58.571.01-57.741.42-30.050.350.07.66-21.76100.650.74115.520-15.5200.14-17.3214.610.69
2017 (4)0.2728.5731.46-0.51-0.1203.21-3.653.6616.563.5025.02.3925.792.0310.930.35-2.789.794.3799.919.66-3.290103.29-17.240.16014.51-4.41
2016 (3)0.21110.031.62-0.47-0.7703.33-51.173.14121.132.8087.921.90211.481.8374.290.3612.59.38-16.491.114.75-24.810124.81-71.20.00015.18-16.73
2015 (2)0.10031.775.23-4.7406.82-18.61.4201.4900.6101.0500.3223.0811.22481.3586.98-27.43-333.330433.335579.760.00018.232.01
2014 (1)-0.73030.190-9.4808.3830.73-10.250-11.430-6.200-2.0600.26-21.211.93-78.34119.863.7692.3743.697.63-77.510.00017.8725.58

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