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
24Q2 (20)0.27208.001.12-50.66-77.82-6.25-23.76-136.74-4.98-49.55-200.06.67186.295963.64-1.13-36.14-3866.67-0.76-40.74-790.910.185.885.889.49-20.12-25.6940.063.14-17.91126.47-16.31-20.12-25.0051.0957.1439.158.5717.5
24Q1 (19)-0.25-92.310.02.27-52.81640.48-5.05-69.4641.55-3.334.5859.98-7.73-124.065.73-0.835.6852.57-0.54-1.8951.350.17-5.5613.3311.888.3948.1338.84-2.53-15.34151.1179.2245.57-51.11-425.83-1241.6736.065.5-1.93
23Q4 (18)-0.13-225.0-533.334.81-8.56507.63-2.98-32.4469.4-3.49-359.2149.27-3.45-538.89-1929.41-0.88-528.57-2100.0-0.530-1160.00.180.028.5710.96-17.7815.8639.85-13.44-15.5284.31-72.72-40.2815.69107.84138.134.183.08-4.31
23Q3 (17)-0.04050.05.264.16122.88-2.2514.7760.94-0.7654.2274.41-0.54-590.9179.85-0.14-566.6777.420.00-100.0100.00.185.8820.013.334.3914.6246.04-5.66-7.21309.0995.2258.51-200.00-242.86-110.5333.16-0.48-1.6
23Q2 (16)0.00100.0-100.05.051302.38-61.77-2.6469.44-154.21-1.6680.05-126.560.11101.34-98.120.03101.71-98.110.11109.91-89.810.1713.33-5.5612.7759.23-27.6548.806.36-14.39158.3352.52103.85-58.33-1431.25-361.2333.32-9.386.42
23Q1 (15)-0.25-933.33-169.44-0.4264.41-102.59-8.6411.29-197.19-8.32-20.93-181.57-8.20-4723.53-201.49-1.75-4275.0-175.76-1.11-2320.0-171.610.157.14-21.058.02-15.22-61.0745.88-2.73-6.29103.81-26.4719.02-3.8190.75-129.8136.772.9421.51
22Q4 (14)0.03137.5-96.05-1.18-150.0-106.05-9.74-69.1-180.1-6.88-131.65-153.09-0.1793.66-101.12-0.0493.55-100.790.05114.29-98.470.14-6.67-33.339.46-18.66-58.1847.17-4.94-13.56141.18-27.650.63-41.1856.66-756.2535.725.9927.57
22Q3 (13)-0.08-132.0-110.132.36-82.13-88.77-5.76-218.28-143.64-2.97-147.52-116.33-2.68-145.73-117.48-0.62-138.99-110.99-0.35-132.41-109.750.15-16.67-34.7811.63-34.11-58.0149.62-12.95-15.51195.00151.06168.84-95.00-525.43-445.8733.707.6320.31
22Q2 (12)0.25-30.56-50.9813.21-18.41-35.44.87-45.22-60.66.25-38.73-51.635.86-27.48-42.271.59-31.17-58.051.08-30.32-56.450.18-5.26-25.017.65-14.32-22.1457.0016.42-3.5477.67-10.95-18.5422.3374.76423.7431.313.4710.21
22Q1 (11)0.36-52.6324.1416.19-17.0610.668.89-26.8915.610.20-21.317.658.08-46.9121.322.31-54.265.01.55-52.453.330.19-9.52-13.6420.60-8.931.8848.96-10.28-3.9287.22-6.94-2.2112.78103.6511.2430.268.076.66
21Q4 (10)0.76-3.8642.8619.52-7.09209.3512.16-7.881035.3812.96-28.75614.2915.22-0.72543.735.05-10.46600.03.26-9.19617.460.21-8.75.022.62-18.34111.454.57-7.0811.5393.7329.2278.086.27-77.16-87.4528.00-0.04-4.04
21Q3 (9)0.7954.98000.021.012.74177.5413.206.81550.5518.1940.794686.8415.3351.0310120.05.6448.8114000.03.5944.765028.570.23-4.1727.7827.7022.1977.5658.73-0.6118.0572.53-23.93130.2227.47544.22-92.3728.01-1.41-8.49
21Q2 (8)0.5175.86464.2920.4539.78385.7512.3660.73355.3712.9249.02400.4710.1552.4338.263.7972.27460.952.4865.33481.540.249.0950.022.6712.1282.5359.0915.9519.6295.356.91-15.424.26-62.88133.528.410.14-12.48
21Q1 (7)0.29307.14293.3314.63131.85313.287.69691.54242.948.67444.05292.676.66294.17247.022.20317.82300.01.50338.1327.270.2210.037.520.2288.9760.9950.964.15-1.389.1969.46-25.0311.49-77.03160.5728.37-2.78-13.45
20Q4 (6)-0.14-1300.051.726.31-16.641334.09-1.30-42.8686.13-2.52-763.1673.16-3.43-2386.6761.93-1.01-2625.052.13-0.63-1000.052.990.2011.1133.3310.70-31.4124.5648.93-1.65-11.5252.63121.93-47.3750.00-86.11029.18-4.67-13.1
20Q3 (5)-0.0192.8695.837.5779.81190.04-0.9181.288.20.38108.84105.860.15103.52102.240.04103.81102.520.07110.77107.00.1812.512.515.6025.636.1349.750.711.76-240.00-312.9-301.6360.002928.571990.030.61-5.7-5.64
20Q2 (4)-0.146.670.04.2118.930.0-4.8410.040.0-4.304.440.0-4.265.960.0-1.054.550.0-0.651.520.00.160.00.012.42-1.110.049.40-4.320.0112.73-5.240.0-12.7332.890.032.46-0.980.0
20Q1 (3)-0.1548.280.03.54704.550.0-5.3842.580.0-4.5052.080.0-4.5349.720.0-1.1047.870.0-0.6650.750.00.166.670.012.5646.220.051.63-6.640.0118.9718.970.0-18.9700.032.78-2.380.0
19Q4 (2)-0.29-20.830.00.44-83.140.0-9.37-21.530.0-9.39-44.680.0-9.01-34.480.0-2.11-32.70.0-1.34-34.00.00.15-6.250.08.59-25.040.055.3013.110.0100.00-16.00.00.00100.00.033.583.510.0
19Q3 (1)-0.240.00.02.610.00.0-7.710.00.0-6.490.00.0-6.700.00.0-1.590.00.0-1.000.00.00.160.00.011.460.00.048.890.00.0119.050.00.0-19.050.00.032.440.00.0
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)-0.4203.83-55.82-3.96014.1012.92-3.380-2.830-2.750-1.5500.683.0311.40-26.3639.85-15.52117.28384.54-17.2800.00034.275.61
2022 (9)0.56-76.178.67-54.540.64-94.4312.4926.712.62-80.433.34-72.283.33-79.932.41-78.210.66-27.4715.48-34.0247.17-13.5624.20-71.7975.80437.840.00032.4515.11
2021 (8)2.35019.07247.9911.5009.85-34.8113.39012.05016.59011.0600.9131.8823.4683.7154.5711.5385.81-23.6114.0900.00028.19-9.53
2020 (7)-0.4405.480-3.00015.12-20.92-2.680-2.990-3.120-1.8700.6918.9712.7761.6548.93-11.52112.336.32-11.6400.00031.16-11.6
2019 (6)-1.470-1.350-12.28019.114.39-11.630-11.700-9.810-6.5400.58-3.337.90-44.6455.3048.66105.65-10.87-5.6500.00035.255.48
2018 (5)-0.5504.57-58.38-5.25018.3113.76-4.430-3.730-3.200-2.0600.60-6.2514.27-27.637.20-23.99118.5385.21-18.5300.00033.4210.04
2017 (4)0.35-43.5510.98-6.792.11-3.6516.09-10.323.29-10.842.32-43.552.24-39.131.65-36.050.6410.3419.71-10.4948.94-7.564.007.7136.00-11.290.00030.371.2
2016 (3)0.62011.7841.422.19017.95-8.63.6904.1103.6802.5800.581.7522.0212.1252.91-4.159.42-75.2440.5800.00030.01-2.09
2015 (2)-0.2108.33-33.2-1.08019.6415.64-0.450-1.560-1.340-0.6800.57-10.9419.64-8.0555.1713.92240.00174.29-140.0000.00030.655.84
2014 (1)0.50-48.4512.4703.66016.982.394.1803.1502.8502.1300.64-9.8621.36-10.5548.4346.2387.50-0.312.502.160.00028.964.44

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