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)1.047.2252.94-7.58-65.54.65-19.07-0.58-0.4227.03-22.1751.9422.08-6.6858.731.994.7429.221.376.237.00.0620.0-14.2939.84-18.7932.9352.37-6.96-23.87-70.26-28.5633.9170.2610.09-17.4726.78-9.654.24
24Q2 (19)0.97-2.024750.0-4.58-121.2624.17-18.96-29.07-15.5434.7324.611020.3223.666.877293.751.90-4.524650.01.29-3.011190.00.05-16.67-28.5749.0618.47245.9856.29-3.99-19.61-54.65-3.7989.64154.651.6-75.3629.642.3820.15
24Q1 (18)0.99-75.85595.0-2.0774.2278.19-14.6921.930.5427.87-76.98618.0322.14-73.68602.041.99-77.15552.271.33-75.28704.550.060.00.041.41-69.0498.4158.63-4.06-7.87-52.65-239.72-113.55152.2131.68152.3228.9515.38-1.86
23Q4 (17)4.10502.941540.0-8.03-1.01-11371.43-18.810.95-94.52121.07580.551726.0984.13504.821903.18.71465.581428.075.38438.01212.20.06-14.29-25.0133.56345.65731.6361.11-11.16-3.08-15.5085.4289.37115.59-43.97-53.2425.09-2.346.18
23Q3 (16)0.683300.0-29.17-7.95-31.62-1403.28-18.99-15.72-149.8717.79473.872.1813.914246.88-4.21.543750.0-30.321.00900.0-26.470.070.0-22.2229.97111.3516.1268.79-1.764.97-106.2979.85-142.62206.29-67.1343.9225.694.1318.88
23Q2 (15)0.02110.0-97.18-6.0436.35-193.5-16.4122.41-882.633.10157.62-73.180.32107.26-96.510.04109.09-97.530.10145.45-89.80.0716.67-30.014.18104.91-24.5770.0210.03-5.13-527.59-235.75-3616.04627.59315.73446.6124.67-16.3722.92
23Q1 (14)-0.20-180.0-122.47-9.49-13457.14-262.22-21.15-118.72-1019.05-5.38-181.15-137.83-4.41-205.0-139.27-0.44-177.19-121.46-0.22-153.66-118.330.06-25.0-40.06.92-56.91-67.3663.640.94-18.17388.64366.493036.36-290.91-217.67-356.9129.5024.8441.9
22Q4 (13)0.25-73.96-68.75-0.07-111.48-101.01-9.67-27.24-1065.066.63-61.92-45.834.20-71.07-58.330.57-74.21-70.310.41-69.85-63.720.08-11.11-27.2716.06-37.78-15.1263.05-3.78-20.94-145.83-232.88-2051.04247.2272.48131.5323.639.3518.03
22Q3 (12)0.9635.211.050.61-90.56-93.94-7.60-355.09-398.0417.4150.6117.0814.5258.3423.892.2136.42-3.491.3638.780.00.09-10.0-18.1825.8137.2921.5765.53-11.22-14.28-43.81-208.57-352.48143.3324.8472.4721.617.6714.04
22Q2 (11)0.71-20.2218.336.4610.43-27.98-1.6711.64-421.1511.56-18.7122.079.17-18.344.921.62-20.9811.720.98-18.3310.110.100.00.018.80-11.3210.6573.81-5.091.28-14.20-7.27-341.36114.811.3921.9920.07-3.46-9.8
22Q1 (10)0.8911.2553.455.85-15.71-14.6-1.89-127.712.5814.2216.1823.5411.2311.4125.332.056.7745.391.206.1937.930.10-9.0911.1121.2012.058.6677.77-2.488.6-13.24-95.2222.31113.246.05-3.2520.793.85-13.16
21Q4 (9)0.80-15.7948.156.94-31.0858.81-0.83-132.5577.2612.24-17.6918.9510.08-13.9917.071.92-16.1634.271.13-16.9128.410.110.010.018.92-10.884.7679.754.3212.24-6.78-139.0780.89106.7828.49-21.1920.025.65-12.5
21Q3 (8)0.9558.3355.7410.0712.261479.452.55390.38128.0514.8757.02962.1411.7234.118.262.2957.9340.491.3652.8140.210.1110.022.2221.2324.96124.6676.454.91.8117.35194.98102.5983.11-11.7-89.1918.95-14.83-15.36
21Q2 (7)0.603.455.268.9730.9524.760.52126.8196.39.47-17.72-19.478.74-2.46-0.111.452.84-9.380.892.3-8.250.1011.11-9.0916.99-12.92-10.6372.881.77-3.425.88134.53229.4194.12-19.58-9.9722.25-7.060
21Q1 (6)0.587.4148.726.8556.7543.91-1.9446.8555.211.5111.8631.098.964.0723.761.41-1.428.180.87-1.1426.090.09-10.00.019.518.0310.671.610.790.99-17.0451.9965.2117.04-13.62-21.4323.944.63-6.37
20Q4 (5)0.54-11.4831.714.37698.63-26.18-3.6559.85-66.6710.29635.016.938.61-13.1227.741.43-12.2717.210.88-9.2817.330.1011.110.018.0691.1111.3471.05-5.380.91-35.4894.69-40.71135.48-82.388.9622.882.19-0.91
20Q3 (4)0.617.020.0-0.73-110.150.0-9.09-1583.330.01.40-88.10.09.9113.260.01.631.870.00.970.00.00.09-18.180.09.45-50.290.075.09-0.490.0-668.75-14612.50.0768.75635.330.022.3900.0
20Q2 (3)0.5746.150.07.1951.050.0-0.5487.530.011.7633.940.08.7520.860.01.6045.450.00.9740.580.00.1122.220.019.017.770.075.466.420.0-4.5590.720.0104.55-29.820.00.00-100.00.0
20Q1 (2)0.39-4.880.04.76-19.590.0-4.33-97.720.08.78-0.230.07.247.420.01.10-9.840.00.69-8.00.00.09-10.00.017.648.750.070.910.710.0-48.96-94.150.0148.9619.790.025.5710.740.0
19Q4 (1)0.410.00.05.920.00.0-2.190.00.08.800.00.06.740.00.01.220.00.00.750.00.00.100.00.016.220.00.070.410.00.0-25.220.00.0124.350.00.023.090.00.0
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)4.6164.06-7.820-18.76010.4146.7934.56173.6323.77138.899.8752.086.4059.20.26-31.5846.59126.7261.11-3.08-54.320154.3211.610.01-8.3926.1422.21
2022 (9)2.81-4.423.53-57.26-4.8207.0911.5812.633.879.95-0.26.49-8.594.02-5.190.38-7.3220.556.8663.05-20.94-38.270138.2740.210.02110.5521.391.33
2021 (8)2.9437.388.26107.540.1806.36-11.0812.1648.849.9715.267.1025.224.2420.80.417.8919.2319.3779.7512.241.38098.62-35.30.01-77.2321.11-8.58
2020 (7)2.14-16.083.98-40.69-4.2907.152.568.17-35.878.65-19.915.67-25.493.51-25.160.38-9.5216.11-21.4571.050.91-52.430152.4333.680.03-56.2623.09-2.66
2019 (6)2.5590.36.71-9.2-1.7906.9713.912.7450.4110.8098.537.6181.194.6973.70.42-8.720.5135.3870.412.38-14.020114.02-2.980.07-55.7523.721.93
2018 (5)1.3407.393.94-1.4906.120.928.475950.05.4404.2002.702354.550.464.5515.15122.4768.776.16-17.520117.52-79.560.16023.270.56
2017 (4)-0.0307.11-26.55-0.7206.06-11.050.14-84.09-0.160-0.1100.11-78.850.4425.716.81-18.6464.785.99-487.500575.0000.00023.14-7.44
2016 (3)0.17-98.879.68-14.111.18-64.026.8223.170.88-99.110.96-98.750.52-99.090.52-98.520.35-23.918.37-92.061.1227.1134.883949.18-34.8800.00025.0013.79
2015 (2)15.031206.9611.27-8.823.28-28.545.5319.6698.421620.6376.731443.8656.97875.5135.25921.740.46-28.12104.59850.8248.09-44.13.33-95.8596.67388.00.00021.9718.05
2014 (1)1.1532.1812.3604.5904.62-17.975.7204.9705.8403.4500.6414.2911.00-6.3886.036.4280.19125.6219.81-69.270.00018.61-13.36

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