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
24Q4 (20)0.27800.0-71.8830.889.042.1819.40202.65-1.0719.12198.28-25.6614.11135.56-29.71.31773.33-73.590.34385.71-77.480.02100.0-71.4323.2932.93-14.69372.3625.5662.52102.112.1134.28-1.050-104.459.76-65.2282.43
24Q3 (19)0.03-88.0-86.9628.32-38.499.686.41-68.96110.866.41-92.37-95.715.99-88.93-95.960.15-87.7-87.80.07-82.93-82.050.010.0017.52-82.03-90.77296.5528.9122.38100.00304.0356.520.00-100.0-100.028.06-12.64-75.24
24Q2 (18)0.25-62.69-67.5346.047.3492.6420.65-27.8559.9584.0233.03342.4454.096.81237.221.22-63.25-71.360.41-60.95-67.460.01-50.0-87.597.5043.7381.24230.042.48-1.4724.75-45.39-63.4275.2537.63135.9132.12146.893634.88
24Q1 (17)0.67-30.21339.2942.8941.9394.9528.6245.95130.2463.16145.57124.3950.64152.32119.923.32-33.06310.131.05-30.46333.330.02-71.43067.85148.53130.64224.47-2.03-13.245.33-40.3925.5254.67131.25-14.4313.01143.18-94.8
23Q4 (16)0.96317.39231.0330.2217.04-5.8319.61133.22114.8925.72-82.77-90.920.07-86.46-91.164.96303.25204.291.51287.18196.080.070027.30-85.61-91.35229.11-5.45-1.1976.04295.05262.9423.64-82.99-83.885.35-95.28-96.62
23Q3 (15)0.23-70.13291.6725.828.0333.51-59.03-557.2434.52149.31686.26254.79148.22824.06251.091.23-71.13286.360.39-69.05295.00.00-100.00189.74836.53416.23242.313.798.19-38.98-157.61-141.87138.98335.731915.25113.3313077.91-15.61
23Q2 (14)0.77375.0156.6723.908.64-14.8312.91113.64-35.4218.99107.332.7616.04106.311.654.26369.62162.961.26380.0125.00.080166.6720.26109.15-1.94233.47-9.7217.367.6787.4-37.5331.90-50.07482.760.86-99.66-89.45
23Q1 (13)-0.28-196.55-380.022.00-31.44-41.98-94.6528.126.76-258.92-191.59-383.87-254.24-211.96-440.8-1.58-196.93-403.85-0.45-188.24-325.00.0000-221.43-170.16-276.0258.6211.5331.9336.11177.38132.6263.89-56.44-70.19250.2757.9594.72
22Q4 (12)0.29341.67-12.1232.0965.93-11.16-131.68-46.07-1123.15282.69393.06876.81227.09331.49697.931.63346.97-7.390.51355.0-22.730.000-100.0315.62626.03857.58231.883.5332.43-46.67-150.12-204.0146.672026.67166.05158.4517.98680.93
22Q3 (11)-0.12-140.0-175.019.34-31.08-43.6-90.15-550.98-2908.41-96.46-621.97-334.58-98.10-721.67-406.37-0.66-140.74-175.86-0.20-135.71-158.820.00-100.0-100.0-60.00-390.42-220.0223.9712.5333.2293.10-14.061017.246.90182.76-92.64134.301547.85381.19
22Q2 (10)0.30200.0-78.2628.06-26.0-23.5819.99119.69-29.9118.48-79.74-48.0315.78-78.85-55.671.62211.54-79.440.56180.0-80.00.030-62.520.66-83.58-43.64199.031.5322.62108.33197.8535.11-8.33-103.89-142.058.15-93.6694.51
22Q1 (9)0.10-69.7-33.3337.924.982.21-101.51-888.73-761.391.21215.17454.8174.60162.12362.210.52-70.45-41.570.20-69.7-35.480.00-100.0-100.0125.81281.71486.25196.0311.96-3.9-110.71-346.73-217.23214.29288.73757.14128.53533.46702.81
21Q4 (8)0.33106.25-57.1436.125.34126.612.87300.93175.028.94-29.62213.5428.46-11.12185.171.76102.3-62.630.6694.12-57.140.02100.0-86.6732.96-34.08161.17175.094.15-9.1644.87438.46-11.2255.13-41.211.4720.29-27.3120.07
21Q3 (7)0.16-88.41-40.7434.29-6.6282.783.21-88.74-42.3741.1215.64886.0932.02-10.06852.980.87-88.96-21.620.34-87.86-8.110.01-87.5-90.050.0036.39491.02168.123.57-28.078.33-89.61-93.7593.75373.08381.2527.91566.11239.95
21Q2 (6)1.38820.0820.036.72-1.02181.1628.5285.8614.835.56116.3479.1535.60120.57947.067.88785.39994.442.80803.23976.920.08300.014.2936.6670.83187.08162.32-20.43-25.2880.18-15.1189.2619.82256.71-89.654.19-73.830
21Q1 (5)0.15-80.52125.8637.10132.75212.2915.35227.99275.2316.4478.11174.4216.1461.72186.170.89-81.1125.430.31-79.87128.70.02-86.67-66.6721.4670.05259.2203.995.840.5394.4486.86136.745.56-88.77-90.8416.0173.640
20Q4 (4)0.77185.190.015.94-15.030.04.68-15.980.09.23121.340.09.98197.020.04.71324.320.01.54316.220.00.1550.00.012.6249.170.0192.74-17.540.050.54-62.090.049.46248.370.09.2212.30.0
20Q3 (3)0.2780.00.018.7643.640.05.57200.540.04.17-32.080.03.36-1.180.01.1154.170.00.3742.310.00.1042.860.08.46-33.750.0233.737.590.0133.33248.430.0-33.33-117.40.08.2100.0
20Q2 (2)0.15125.860.013.069.930.0-5.5436.760.06.14127.80.03.40118.150.00.72120.570.00.26124.070.00.0716.670.012.77194.730.0217.257.070.0-89.83-325.180.0191.53215.850.00.0000.0
20Q1 (1)-0.580.00.011.880.00.0-8.760.00.0-22.090.00.0-18.730.00.0-3.500.00.0-1.080.00.00.060.00.0-13.480.00.0202.910.00.039.890.00.060.640.00.00.000.00.0
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
2024 (10)1.20-28.1435.9533.2520.7750.183.11122.2638.2980.6128.8068.826.00-32.741.61-42.50.05-68.7544.5288.88372.3662.5254.18-16.8645.8231.530.00-67.4315.51104.35
2023 (9)1.67198.2126.98-4.9313.8301.40-76.8221.20-33.2317.06-32.388.92186.822.80164.150.16300.023.57-40.31229.11-1.1965.16034.84-66.870.01-40.427.59-75.18
2022 (8)0.56-71.8628.38-22.2-1.7106.03188.0731.75-1.0325.23-19.343.11-72.861.06-74.080.04-69.2339.4913.41231.8832.43-5.170105.17232.480.02-51.5130.58189.86
2021 (7)1.99231.6736.48134.4521.922282.612.09-52.0932.081351.5831.281260.011.46303.524.09246.610.13-69.0534.82378.95175.09-9.1668.3763.2431.63-45.570.04-19.9710.55-0.57
2020 (6)0.60-15.4915.56-0.320.92513.334.37-2.782.21-73.052.30-68.362.84-66.071.18-67.490.42-6.677.27-47.51192.74-1.8141.882323.0858.12-40.860.05-94.2910.6111.22
2019 (5)0.71-79.4815.61-36.420.15-98.924.50687.38.20-40.497.27-49.058.37-68.883.63-68.870.45-43.7513.85-7.23196.3082.811.73-98.2898.2700.91-46.039.5482.76
2018 (4)3.46024.5557.0713.8900.57-50.113.78014.27026.90011.6600.80166.6714.930107.38-41.01100.71-38.5-0.7101.6805.22-62.09
2017 (3)-0.36015.63-11.09-6.8301.14-0.05-4.170-4.330-3.430-1.1800.30-16.67-2.240182.0225.52163.750-63.7500.00013.778.94
2016 (2)0.13-48.017.58-33.43-2.9201.15-16.942.05-57.821.37-67.151.17-50.00.60-48.720.3644.03.80-44.85145.0114.33-143.590243.59421.980.00012.64-21.3
2015 (1)0.25-65.2826.4102.5501.38-4.964.8604.1702.3401.1700.2513.646.89-62.0126.8311.0653.33134.6746.67-40.110.00016.0617.31

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