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)3.4231.5440.7441.281.2514.3224.744.5225.2730.8510.3838.8422.436.2530.184.3729.2925.572.9123.3123.310.1318.18-7.1436.265.8130.1558.2131.136.6980.07-5.65-9.919.7728.6477.4728.59-5.172.51
24Q1 (19)2.60-8.4511.1140.77-2.537.623.67-2.753.3227.956.0717.9821.114.6119.273.38-11.291.22.36-10.943.510.11-15.38-15.3834.277.2615.0844.39-0.22.2884.86-8.08-12.3415.37100.2381.130.152.279.48
23Q4 (18)2.849.23115.1541.836.4935.224.345.46103.026.354.85134.0120.186.27115.143.812.9793.42.656.43100.760.130.0-7.1431.953.5391.4344.48-2.9-17.3792.320.49-13.427.68-5.54215.6929.485.85-3.47
23Q3 (17)2.607.0-16.9339.288.7817.3223.0816.8625.0925.1313.1-8.4918.9910.21-11.13.706.32-20.772.495.51-16.720.13-7.14-7.1430.8610.77-6.2945.81-16.04-14.3791.873.3937.028.13-27.04-75.1927.85-0.149.95
23Q2 (16)2.433.85-23.5836.11-4.7-3.8919.75-13.79-6.7122.22-6.21-22.6917.23-2.66-20.453.484.19-27.042.363.51-24.60.147.690.027.86-6.45-18.0654.5625.71-12.4888.86-8.2120.6911.14248.72-57.7727.891.270.5
23Q1 (15)2.3477.27-24.5237.8922.46-3.5422.9191.08-2.9623.69110.39-18.1717.7088.7-20.23.3469.54-28.332.2872.73-27.390.13-7.14-7.1429.7878.43-12.6943.40-19.38-4.096.81-9.2218.673.19148.14-82.6727.54-9.820.33
22Q4 (14)1.32-57.83-52.8630.94-7.59-24.5411.99-35.01-48.6711.26-58.99-53.839.38-56.09-51.971.97-57.82-56.421.32-55.85-54.330.140.0-6.6716.69-49.32-42.6953.830.621.39106.6459.0311.28-6.64-120.26-258.8930.5420.570.1
22Q3 (13)3.13-1.576.4633.48-10.89-20.6118.45-12.85-33.9727.46-4.45-4.6221.36-1.397.724.67-2.1-1.062.99-4.47-2.290.140.0-6.6732.93-3.15-0.6353.50-14.18-13.1667.05-8.93-30.8232.7624.21030.0625.33-8.72-1.21
22Q2 (12)3.182.58-6.1937.57-4.35-16.9521.17-10.33-33.6828.74-0.73-6.2321.66-2.34-3.34.772.36-12.83.13-0.32-16.090.140.0-17.6534.00-0.32-2.362.3437.8927.1273.63-9.74-29.3126.3743.13734.0227.751.097.98
22Q1 (11)3.1010.71-2.5239.28-4.2-11.3923.611.07-21.3328.9518.7-7.7422.1813.57-4.234.663.1-12.573.148.65-14.210.14-6.67-12.534.1117.14-5.2245.21-14.84-0.5781.57-14.87-14.7218.43341.26323.827.45-10.038.03
21Q4 (10)2.80-4.76-16.1741.00-2.77-14.4823.36-16.39-26.6624.39-15.28-22.9619.53-1.51-22.164.52-4.24-24.292.89-5.56-28.990.150.0-6.2529.12-12.13-19.7453.09-13.8310.2195.82-1.13-4.714.1844.07851.6530.5118.9913.46
21Q3 (9)2.94-13.27-10.0942.17-6.79-12.5527.94-12.47-21.8728.79-6.07-20.9719.83-11.47-23.354.72-13.71-25.23.06-17.96-29.330.15-11.76-11.7633.14-4.77-18.7761.6125.6332.4996.92-6.95-1.242.90169.6855.4725.64-0.2349.68
21Q2 (8)3.396.628.4145.242.05-1.9131.926.36-0.0630.65-2.33-2.1422.40-3.28-0.315.472.636.213.731.910.540.176.256.2534.80-3.31-3.5749.047.855.62104.168.891.99-4.16-195.67-116.7725.701.140.51
21Q1 (7)3.18-4.79103.8544.33-7.5314.4630.01-5.7835.9831.38-0.8828.4523.16-7.6928.955.33-10.7278.863.66-10.0762.670.160.033.3335.99-0.816.0245.47-5.6138.7195.65-4.885.934.35882.61-55.1825.41-5.50.87
20Q4 (6)3.342.1448.4447.94-0.5814.8831.85-10.9322.2231.66-13.0924.525.09-3.0233.395.97-5.3933.564.07-6.021.490.16-5.88-11.1136.28-11.0820.8148.173.5940.4100.562.47-1.98-0.56-129.878.526.8956.9810.93
20Q3 (5)3.2723.8627.7348.224.5512.5835.7611.9628.9636.4316.3224.6325.8715.1316.96.3122.5220.884.3316.7114.850.176.250.040.8013.0519.6146.500.1541.6898.14-3.913.211.86197.16-63.8117.13-33.01-31.89
20Q2 (4)2.6469.230.046.1219.080.031.9444.720.031.3228.20.022.4725.110.05.1572.820.03.7164.890.00.1633.330.036.0916.340.046.4341.640.0102.1313.110.0-1.92-119.780.025.571.510.0
20Q1 (3)1.56-30.670.038.73-7.190.022.07-15.310.024.43-3.930.017.96-4.520.02.98-33.330.02.25-32.840.00.12-33.330.031.023.30.032.78-4.460.090.30-11.980.09.70475.450.025.193.920.0
19Q4 (2)2.25-12.110.041.73-2.570.026.06-6.020.025.43-13.00.018.81-15.00.04.47-14.370.03.35-11.140.00.185.880.030.03-11.960.034.314.540.0102.587.890.0-2.58-150.150.024.24-3.620.0
19Q3 (1)2.560.00.042.830.00.027.730.00.029.230.00.022.130.00.05.220.00.03.770.00.00.170.00.034.110.00.032.820.00.095.080.00.05.150.00.025.150.00.0
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)10.21-4.7638.779.8622.5019.945.276.0224.341.1218.53-0.4814.26-11.659.67-8.950.52-7.1430.102.3544.48-17.3792.4018.67.54-65.850.29-4.0128.191.51
2022 (9)10.72-12.9235.29-18.2918.76-33.784.9719.1224.07-16.3918.62-12.2116.14-20.2610.62-21.330.56-11.1129.41-11.5253.831.3977.91-20.8522.091302.870.31-19.4227.773.58
2021 (8)12.3113.8843.19-5.828.33-8.994.17-11.1328.79-8.7221.21-9.0520.242.3313.50-3.780.635.033.24-8.9153.0910.2198.43-0.291.5722.510.38-5.0226.8113.75
2020 (7)10.8124.1145.8513.9131.1324.924.703.0331.5421.1723.3221.5819.7811.514.036.530.60-11.7636.4918.448.1740.498.713.141.29-70.060.40-22.4323.57-6.32
2019 (6)8.7113.5640.258.1124.928.34.5623.0426.033.8319.1816.8117.745.0913.175.610.68-10.5330.826.6434.31-4.9195.714.284.29-47.750.5124.7225.162.28
2018 (5)7.67-9.4537.235.7123.018.233.7014.2125.07-1.7616.42-11.4316.88-16.4812.47-13.70.76-2.5628.900.0736.081.9591.7810.158.22-50.730.41024.601.15
2017 (4)8.4720.4835.2213.4721.2615.613.245.0425.5213.2218.5412.3620.2110.6814.4511.240.78-1.2728.8812.235.39-22.3483.322.1816.68-9.640.00024.3232.39
2016 (3)7.0330.1931.049.2618.399.993.090.6322.5417.5816.5023.2318.2621.2512.9916.710.79-4.8225.7415.0145.5727.5881.54-6.5518.4644.860.00018.3716.56
2015 (2)5.4010.8828.414.9516.726.73.07-4.8919.174.7513.39-4.0115.06-2.7111.13-3.130.831.2222.383.0935.72-1.4387.261.9212.74-11.440.00015.76-3.79
2014 (1)4.8721.4527.07015.6703.23-8.7618.30013.95015.48011.4900.820.021.717.0536.243.9985.61-8.1214.39111.030.00016.387.41

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