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)0.890.0232.8426.75-13.09110.635.61-39.81208.39.27-9.47282.487.59-3.68232.922.37-1.66233.151.490.68288.610.185.885.8813.99-8.922193.4467.18-17.04-10.159.76-34.12-41.6339.02319.511739.0219.666.7315.51
23Q4 (19)0.8943.5564.8130.7838.973.69.3275.19235.2510.2433.68264.417.8846.2149.372.4139.3174.641.4834.5576.190.170.0-22.7315.3619.16119.4380.98-1.48-16.590.7032.1-6.389.30-68.84018.4219.9233.19
23Q3 (18)0.62-4.62-63.5322.1619.5315.185.3240.37-20.367.66-1.67-13.155.39-5.27-27.841.73-7.49-63.111.10-9.84-52.590.17-5.56-43.3312.89-1.389.5282.20-6.41-19.568.6641.47-9.5629.85-42.023.9315.366.2230.61
23Q2 (17)0.65197.01-50.018.5445.98-17.63.79173.17-62.067.79253.3513.895.69199.653.271.87205.06-48.631.22254.43-30.680.185.88-40.013.072042.6236.7287.8317.53-27.9548.53-52.6-66.8451.472261.76211.0114.46-15.0431.69
23Q1 (16)-0.67-224.07-143.7912.70-28.37-31.54-5.18-286.33-177.2-5.08-280.78-167.11-5.71-280.7-191.21-1.78-228.99-140.92-0.79-194.05-140.10.17-22.73-43.330.61-91.29-94.074.73-22.94-34.38102.385.6815.07-2.380-121.617.0223.0753.33
22Q4 (15)0.54-68.24-62.517.73-7.85-0.172.78-58.38-54.282.81-68.14-57.493.16-57.7-45.71.38-70.58-67.980.84-63.79-54.590.22-26.67-29.037.00-40.53-23.4196.98-5.02-32.596.8827.615.340.00-100.0-100.013.8317.631.46
22Q3 (14)1.7030.77-24.1119.24-14.49-10.556.68-33.13-29.168.8228.95-1.457.4735.57-13.744.6928.85-31.932.3231.82-24.920.300.0-14.2911.7723.124.25102.11-16.23-26.1675.91-48.13-27.6624.09151.95533.5811.767.115.63
22Q2 (13)1.30-15.03-42.7322.5021.29-8.619.9948.88-9.846.84-9.64-36.845.51-11.98-38.163.64-16.32-48.31.76-10.66-46.670.300.0-16.679.56-6.0-28.17121.907.043.31146.3664.543.38-46.36-520.58-2125.4510.98-1.082.81
22Q1 (12)1.536.25-30.7718.554.45-25.116.7110.36-41.147.5714.52-30.936.267.56-33.194.350.93-40.491.976.49-42.060.30-3.23-16.6710.1711.27-25.66113.88-20.74-2.0888.98-3.25-14.3511.0237.18383.4611.105.51-10.12
21Q4 (11)1.44-35.71-31.7517.76-17.43-33.836.08-35.52-50.976.61-26.15-42.325.82-32.79-39.54.31-37.45-43.511.85-40.13-48.030.31-11.43-13.899.14-19.04-35.9143.673.8917.6391.96-12.36-14.788.04244.64194.8210.523.44-27.0
21Q3 (10)2.24-1.3229.4821.51-12.63-21.479.43-14.89-17.58.95-17.36-16.518.66-2.81-11.456.89-2.133.923.09-6.36-4.330.35-2.789.3711.29-15.18-21.1138.2917.1921.71104.942.8-1.76-5.56-166.6718.5210.17-4.78-32.51
21Q2 (9)2.272.7189.1724.62-0.610.8211.08-2.8133.9810.83-1.1939.748.91-4.919.067.04-3.6949.473.30-2.9434.690.360.024.1413.31-2.710.92118.001.4612.53102.08-1.74-5.12-2.0846.4367.0810.68-13.520
21Q1 (8)2.214.741281.2524.77-7.7131.4811.40-8.06540.4510.96-4.36700.09.37-2.6694.077.31-4.191182.463.40-4.49750.00.360.050.013.68-4.0799.13116.30-4.7824.11103.89-3.73-16.89-3.8954.1184.4412.35-14.30
20Q4 (7)2.1121.97257.6326.84-2.0122.9512.408.49116.411.466.9136.789.62-1.64159.37.6315.08230.33.5610.22180.310.3612.516.1314.26-0.3560.77122.147.514.33107.911.02-8.95-8.47-24.2954.2414.41-4.380
20Q3 (6)1.7344.17121.7927.3912.1619.6111.4338.2192.110.7238.3292.119.7819.7195.996.6340.76121.03.2331.84103.140.3210.3410.3414.3119.2545.43113.628.3515.7106.82-0.720.14-6.82-7.73-2.2715.070-24.84
20Q2 (5)1.20650.0135.2924.4229.6219.38.27364.61100.247.75465.6990.428.17592.37153.734.71726.32144.042.45512.5126.850.2920.833.5712.0074.6740.85104.8611.9-4.59107.59-13.927.59-6.3374.68-178.480.000-100.0
20Q1 (4)0.16-72.880.018.84-13.70.01.78-68.940.01.37-71.690.01.18-68.190.00.57-75.320.00.40-68.50.00.24-22.580.06.87-22.550.093.71-12.280.0125.005.470.0-25.00-35.00.00.0000.0
19Q4 (3)0.59-24.360.021.83-4.670.05.73-3.70.04.84-13.260.03.71-25.650.02.31-23.00.01.27-20.130.00.316.90.08.87-9.860.0106.838.790.0118.5211.110.0-18.52-177.780.00.00-100.00.0
19Q3 (2)0.7852.940.022.9011.870.05.9544.070.05.5837.10.04.9954.970.03.0055.440.01.5947.220.00.293.570.09.8415.490.098.20-10.650.0106.676.670.0-6.67-193.330.020.050.910.0
19Q2 (1)0.510.00.020.470.00.04.130.00.04.070.00.03.220.00.01.930.00.01.080.00.00.280.00.08.520.00.0109.910.00.0100.000.00.0-2.270.00.019.870.00.0
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)1.55-69.4321.067.233.37-50.84.0768.995.25-22.793.40-41.284.39-68.933.00-56.140.68-38.7410.547.5580.98-16.564.25-36.0735.7500.16-9.016.2838.55
2022 (9)5.07-37.8719.64-11.376.85-27.892.4114.066.80-27.125.79-29.3914.13-45.766.84-40.01.11-18.389.80-17.1696.98-32.5100.49-1.19-0.7400.18-7.8211.757.8
2021 (8)8.1656.9222.16-11.299.502.482.11-35.699.338.618.205.2626.0536.611.4024.321.3619.311.83-4.83143.6717.63101.71-5.83-1.7100.19-13.4210.90-29.17
2020 (7)5.20135.2924.9817.339.27101.963.28-4.478.59102.127.79120.6819.07127.299.1798.921.14-0.8712.4345.04122.1414.33108.00-0.31-8.0000.22-36.4115.39-19.68
2019 (6)2.2124.1621.290.764.5921.753.4422.184.2516.443.5312.788.3920.724.6124.591.156.488.5720.37106.830.72108.334.7-7.7800.35-14.0419.16-8.63
2018 (5)1.78-29.9221.13-6.423.77-34.552.8113.823.65-33.523.13-31.216.95-29.443.70-25.851.084.857.12-17.11106.071.35103.47-1.32-3.4700.41020.97-6.34
2017 (4)2.54-6.2722.58-7.725.76-18.642.47-16.615.49-10.594.55-12.849.85-6.374.99-10.251.030.988.59-10.98104.66-8.57104.85-9.33-4.8500.00022.39-12.61
2016 (3)2.71-10.8624.473.077.087.272.97-14.36.14-11.015.22-13.010.52-11.075.56-14.721.02-1.929.65-9.47114.4741.5115.6421.02-15.1700.00025.62-5.6
2015 (2)3.04-18.9323.74-0.636.60-12.233.46-2.946.90-15.346.00-16.911.83-24.026.52-21.161.04-6.3110.66-11.0280.90-16.7895.563.924.44-42.00.00027.1415.64
2014 (1)3.75118.0223.8907.5203.56-5.388.1507.22015.5708.2701.1112.1211.9824.5397.218.2891.955.227.66-39.210.00023.470.64

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