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
24Q1 (20)0.25-41.86238.8924.82-29.75102.6111.69-41.1495.167.72-36.461089.745.09-40.881256.821.12-45.631500.00.46-38.67318.180.070.016.6719.80-17.4733.06203.63-6.436.37152.17-6.08120.99-52.1717.57-106.3220.489.69-11.8
23Q4 (19)0.43295.45368.7535.3329.7572.2619.861150.79158.9312.15273.82627.548.61262.451588.242.06274.582188.890.75412.5368.750.070.016.6723.99305.2437.32217.62-5.6711.39162.03480.59-65.89-63.29-187.7983.1218.67-8.53-20.32
23Q3 (18)-0.2212.064.5227.23-15.5153.75-1.89-133.2785.57-6.99-201.2961.19-5.30-153.5959.14-1.18-195.048.25-0.24058.620.0716.6740.05.92-52.18273.1230.695.360.5527.91111.16-61.7972.09-79.4167.3420.41-11.87-24.01
23Q2 (17)-0.25-38.89-377.7832.23163.134.745.68-5.1827.35-2.32-197.44-247.77-2.09-375.0-252.55-0.40-400.0-233.330.00-100.0-100.00.060.00.012.38-16.8-0.8218.9614.38-7.65-250.0065.52-192.59350.00-57.58294.4423.16-0.262.61
23Q1 (16)-0.18-12.5-122.7812.25-40.27-61.125.99-21.9-69.08-0.78-146.71-104.51-0.44-186.27-103.54-0.08-188.89-102.340.11-31.25-89.320.060.0-25.014.88-14.83-41.97191.43-2.02-22.54-725.00-252.63-744.44825.00320.07140.023.22-0.91.75
22Q4 (15)-0.1674.19-130.1920.5115.81-30.877.67158.55-49.171.67109.27-87.380.51103.93-95.380.09103.95-96.810.16127.59-82.020.0620.0-25.017.47610.82-22.39195.37-14.85-23.1475.00550.38318.0-375.00-1490.62-2650.023.43-12.77-22.75
22Q3 (14)-0.62-788.89-293.7517.71-25.96-18.24-13.10-393.72-255.03-18.01-1247.13-201.81-12.97-1046.72-207.63-2.28-860.0-209.09-0.58-486.67-185.290.05-16.670.0-3.42-127.4-110.57229.43-3.241.8273.03-72.9552.3326.97114.98-48.226.8619.017.05
22Q2 (13)0.09-88.61-91.9623.92-24.09-30.284.46-76.97-80.921.57-90.92-92.541.37-88.98-90.790.30-91.23-94.090.15-85.44-90.910.06-25.0-45.4512.48-51.33-57.07237.11-4.05-4.01270.00140.0143.62-180.00-1436.0-1562.3522.57-1.10.67
22Q1 (12)0.7949.063.9531.516.2-3.1719.3728.36-4.2517.3030.76-2.0412.4312.594.283.4221.28-3.121.0315.73-21.970.080.0-27.2725.6413.9-5.28247.13-2.7230.06112.50-1.0-1.67-11.7214.0618.722.82-24.76-0.78
21Q4 (11)0.5365.62-36.929.6736.98-0.0315.0978.58-22.9313.23-25.21-22.5411.04-8.38-13.02.8234.93-26.750.8930.88-42.580.0860.0-33.3322.51-30.46-15.12254.0512.7450.55113.64137.01-1.15-13.64-126.28.8130.3320.8843.61
21Q3 (10)0.32-71.43146.1521.66-36.873.348.45-63.86-10.5817.69-15.96173.8412.05-19.02208.972.09-58.86124.730.68-58.7944.680.05-54.55-50.032.3711.3576.6225.34-8.7750.2247.95-56.74-66.6552.05580.74211.0525.0911.919.13
21Q2 (9)1.1247.37283.6134.315.4479.6323.3815.57411.621.0519.2239.414.8824.83236.645.0843.91402.381.6525.0379.660.110.083.3329.077.39692.1247.0130.079.75110.83-3.13462.04-10.8324.88-108.2922.42-2.52-35.31
21Q1 (8)0.76-9.52153.3332.549.6428.9220.233.32130.6717.663.4189.5111.92-6.07156.343.53-8.31206.961.32-14.84127.590.11-8.3310.027.072.0745.15190.0112.630.12114.41-0.47-20.41-14.413.667.0523.008.90
20Q4 (7)0.84546.15394.1229.6841.622.2919.58107.2158.3117.08164.4240.9212.69225.38205.783.85313.98266.671.55229.79171.930.1220.09.0926.5244.6849.58168.7512.4914.55114.95-20.03-23.36-14.9568.170.0921.12-8.13-6.55
20Q3 (6)0.13121.310.020.969.74-6.019.45106.7819.926.46142.7826.673.90135.8122.260.93155.366.90.47179.66-9.620.1066.67-16.6718.33399.469.24150.019.1613.7143.75569.58-7.36-46.88-135.8915.0422.99-33.671.46
20Q2 (5)-0.61-303.33-405.019.10-24.33-18.414.57-47.89-47.35-15.10-347.54-374.05-10.89-334.19-384.33-1.68-246.09-260.0-0.59-201.72-200.00.06-40.0-50.03.67-80.32-77.59137.42-5.9-3.35-30.61-121.3-119.59130.61398.54332.234.66051.62
20Q1 (4)0.3076.470.025.244.00.08.7715.70.06.1021.760.04.6512.050.01.159.520.00.581.750.00.10-9.090.018.655.190.0146.03-0.870.0143.75-4.170.0-43.7512.50.00.00-100.00.0
19Q4 (3)0.1730.770.024.278.830.07.58-3.810.05.01-1.760.04.1530.090.01.0520.690.00.579.620.00.11-8.330.017.735.660.0147.3111.660.0150.00-3.330.0-50.009.370.022.60-0.260.0
19Q3 (2)0.13-35.00.022.30-4.740.07.88-9.220.05.10-7.440.03.19-16.710.00.87-17.140.00.52-11.860.00.120.00.016.782.440.0131.93-7.220.0155.17-0.690.0-55.171.920.022.66-0.870.0
19Q2 (1)0.200.00.023.410.00.08.680.00.05.510.00.03.830.00.01.050.00.00.590.00.00.120.00.016.380.00.0142.190.00.0156.250.00.0-56.250.00.022.860.00.0
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)-0.22027.5013.267.7626.5910.1615.140.89-63.220.45-72.730.38-73.430.65-19.750.270.014.491.47217.6211.39880.00248.33-780.0000.34-19.3921.15-10.91
2022 (9)0.01-99.6324.28-20.296.13-65.568.829.62.42-86.171.65-86.91.43-89.10.81-81.510.27-18.1814.28-47.69195.37-23.1252.63148.0-152.6300.43108.3223.74-5.64
2021 (8)2.73313.6430.4624.0217.8052.278.05-18.0317.50184.0912.60183.7813.12208.714.38117.910.33-10.8127.3046.93254.0550.55101.87-46.41-1.6400.2014.4825.163.28
2020 (7)0.666.4524.562.7211.6944.689.8211.986.1618.234.4418.094.257.322.01-9.870.37-17.7818.589.94168.7514.55190.0822.43-90.0800.18-10.5224.365.78
2019 (6)0.62-50.7923.91-7.368.08-16.448.7740.665.21-28.243.76-34.273.96-36.332.23-29.210.45-4.2616.904.9147.3118.12155.2616.63-55.2600.20-31.5123.03-0.13
2018 (5)1.26-23.6425.81-7.699.67-12.416.2410.27.26-24.535.72-14.886.22-21.073.15-18.180.47-9.6216.11-5.84124.71-12.33133.1216.09-33.1200.29023.060.65
2017 (4)1.65-30.3827.96-9.7511.04-24.385.66-2.39.62-26.736.72-23.117.88-28.823.85-29.490.52-10.3417.11-16.98142.2531.03114.682.98-14.6800.00022.915.53
2016 (3)2.37189.0230.9831.4914.60123.585.79-7.2413.13138.738.74204.5311.07214.495.46155.140.581.7520.6149.56108.56-15.09111.36-6.01-11.3600.00021.71-8.93
2015 (2)0.82-59.4123.560.266.53-16.826.2412.935.50-60.092.87-66.823.52-67.52.14-64.740.57-10.9413.78-34.78127.8522.86118.49107.35-18.4900.00023.844.29
2014 (1)2.02124.4423.5007.8505.53-10.0713.7808.65010.8306.0700.64-3.0321.1356.75104.0621.1357.14-46.042.8600.00022.86-1.21

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