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)0.08500.0-57.899.152.46-4.393.3819.43-17.364.279.49-32.973.24350.0-35.330.98366.67-37.970.76245.45-36.130.210.0-4.557.511.21-21.5340.74-2.93-0.4478.908.6322.8120.64-24.58-42.270.00-100.0-100.0
24Q2 (19)-0.02-106.9-111.768.931.485.432.83-62.8120.433.90-57.65-23.830.72-90.37-83.960.21-89.9-83.850.22-85.99-78.00.215.05.07.42-41.48-15.141.979.5-2.5172.63-12.157.727.3757.55-49.264.84-16.71.26
24Q1 (18)0.29190.0107.148.80-13.21-7.377.6164.3691.219.2199.3599.787.4897.3691.792.0874.7965.081.5770.6563.540.20-9.09-13.0412.6861.3265.7538.33-1.92-9.2682.63-17.72-4.217.37026.335.8119.316.43
23Q4 (17)0.10-47.37400.010.145.967.874.6313.242.464.62-27.4748.553.79-24.35100.531.19-24.6891.940.92-22.6980.390.220.0-4.357.86-17.8727.3939.08-4.5-10.8100.4256.31-4.090.00-100.0100.04.871.254.96
23Q3 (16)0.1911.7672.739.5712.9927.264.0974.0477.066.3724.4182.525.0111.5889.771.5821.5459.61.1919.058.670.2210.0-15.389.579.559.540.92-4.95-7.6764.2439.48-2.9935.76-33.715.864.810.6337.43
23Q2 (15)0.1721.43142.868.47-10.84-1.172.35-40.95-32.085.1211.0658.514.4915.13133.851.303.17103.121.004.1796.080.20-13.04-13.048.7414.2549.9143.051.92-10.8546.06-46.6-56.9553.94292.3871.784.78-4.2136.96
23Q1 (14)0.14600.0-17.659.501.06-16.893.9822.46-26.74.6148.23-27.973.90106.35-24.711.26103.23-16.560.9688.24-15.040.230.09.527.6523.99-17.342.24-3.584.586.25-17.631.5313.75392.19-8.624.997.545.5
22Q4 (13)0.02-81.82300.09.4025.0-14.863.2540.69-4.133.11-10.89-49.921.89-28.41-21.580.62-37.37-17.330.51-32.0-17.740.23-11.544.556.172.83-31.4443.81-1.15-1.33104.7158.1192.16-4.71-113.93-110.414.6432.57-39.43
22Q3 (12)0.1157.14-52.177.52-12.25-44.952.31-33.24-71.763.498.05-61.822.6437.5-65.080.9954.69-57.690.7547.06-55.620.2613.0423.816.002.92-50.5844.32-8.224.2666.22-38.1-25.9333.78583.28218.863.500.2912.9
22Q2 (11)0.07-58.82-66.678.57-25.02-49.913.46-36.28-69.33.23-49.53-70.951.92-62.93-76.780.64-57.62-74.190.51-54.87-71.350.239.5215.05.83-36.97-59.0648.2919.47-1.75106.9925.945.47-6.99-146.45-385.753.49-26.22-3.86
22Q1 (10)0.171800.0-41.3811.433.53-41.835.4360.18-57.516.403.06-51.555.18114.94-52.611.51101.33-52.661.1382.26-50.220.21-4.555.09.252.78-43.9140.42-8.96-9.6484.9555.91-12.3115.05-66.71358.584.73-38.25-3.67
21Q4 (9)-0.01-104.3595.011.04-19.18-37.663.39-58.56-65.936.21-32.061625.02.41-68.12209.050.75-67.95200.00.62-63.31272.220.224.76-4.359.00-25.86135.644.404.45-8.5954.49-39.05-98.0145.20326.7101.717.66147.198.45
21Q3 (8)0.239.52264.2913.66-20.16-28.568.18-27.42224.69.14-17.81164.937.56-8.59730.772.34-5.65654.841.69-5.06333.330.215.0-8.712.14-14.7567.4542.51-13.51-12.1589.41-11.8622.8510.59836.23-60.333.10-14.6-18.85
21Q2 (7)0.21-27.59-89.1817.11-12.93-50.111.27-11.82-60.511.12-15.82-58.888.27-24.34-66.242.48-22.26-83.681.78-21.59-81.710.200.0-47.3714.24-13.64-51.8449.159.88-10.18101.444.71-3.86-1.44-143.8573.893.63-26.070
21Q1 (6)0.29245.0262.519.6510.9536.8412.7828.44133.6413.213569.44147.3810.93594.57197.823.19525.33118.492.27730.56124.750.20-13.04-13.0416.49331.6889.1144.73-7.91-34.8696.88-96.47-5.363.28100.12238.754.9127.211.59
20Q4 (5)-0.20-42.86-81.8217.71-7.3779.079.95294.84272.660.36-89.57-70.49-2.21-342.86-1573.33-0.75-341.94-1171.43-0.36-192.31-271.430.230.0-11.543.82-47.31-12.3948.570.37-32.632745.003671.911150.68-2645.00-10005.78-2113.753.861.050
20Q3 (4)-0.14-107.220.019.12-44.240.02.52-91.170.03.45-87.240.00.91-96.290.00.31-97.960.00.39-95.990.00.23-39.470.07.25-75.480.048.39-11.570.072.77-31.030.026.70584.50.03.8200.0
20Q2 (3)1.942325.00.034.29138.790.028.53421.570.027.04406.370.024.50567.570.015.20941.10.09.73863.370.00.3865.220.029.57239.110.054.72-20.310.0105.513.070.0-5.51-133.040.00.00-100.00.0
20Q1 (2)0.08172.730.014.3645.20.05.47104.870.05.34337.70.03.672346.670.01.461985.710.01.01380.950.00.23-11.540.08.72100.00.068.67-4.740.0102.36-53.360.0-2.3698.020.04.4000.0
19Q4 (1)-0.110.00.09.890.00.02.670.00.01.220.00.00.150.00.00.070.00.00.210.00.00.260.00.04.360.00.072.090.00.0219.480.00.0-119.480.00.00.000.00.0
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)0.6062.169.443.743.797.672.7222.05.1830.484.2951.065.4037.064.1335.860.89-7.298.4525.7439.08-10.873.26-17.2726.74133.621.48-4.344.8720.54
2022 (9)0.37-48.619.10-40.453.52-60.092.23-6.093.97-59.72.84-60.663.94-55.483.04-52.720.9614.296.72-47.9143.81-1.3388.56-1.0611.449.021.54-1.094.04-16.53
2021 (8)0.72-57.1415.28-34.258.82-37.272.379.999.85-15.387.22-22.28.85-44.376.43-40.30.84-22.2212.90-13.1344.40-8.5989.50-25.8510.5001.56-4.474.8434.82
2020 (7)1.688300.023.24150.9714.06349.22.15-2.211.64465.059.28608.415.91528.8510.77398.611.08-3.5714.85186.6848.57-32.63120.70-20.56-20.7001.63-11.623.596.85
2019 (6)0.02-92.319.2622.653.1327.242.2020.442.06-6.791.31-9.032.53-15.952.16-13.61.12-3.455.182.7872.09-4.07151.9436.1-51.9401.85-2.223.3612.75
2018 (5)0.26-23.537.550.272.4622.391.83-0.182.217.81.449.923.019.062.5014.681.164.55.046.1175.15-10.4111.6413.58-11.6401.89-2.392.988.76
2017 (4)0.34-19.057.53-21.232.01-36.391.83-11.422.05-54.551.31-58.282.76-56.672.18-43.521.119.94.75-36.583.87-11.5498.2940.191.71-94.271.9402.74-19.65
2016 (3)0.4213.519.5678.693.1602.07-18.494.514410.03.1406.3703.86211.291.012.027.4866.9694.81-12.6270.12029.81-87.820.0003.4120.49
2015 (2)0.3705.3531.13-0.1402.5492.080.100-0.240-0.6201.2400.99-22.664.48497.33108.50-48.4-144.740244.74108.840.0002.8344.39
2014 (1)-0.4204.0800.3101.3210.27-1.800-2.050-7.340-1.3401.28-9.220.75-74.75210.2839.44-17.190117.1900.0001.968.29

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