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)2.53-5.6145.6320.43-11.2923.06.06-40.2476.688.612.38139.176.991.01184.153.97-9.98210.162.35-13.28205.190.34-12.829.689.613.22104.0377.0224.575.9370.26-41.72-26.4929.51243.59566.048.3630.0212.52
23Q4 (19)2.685.931310.5323.0314.4632.5110.1475.43106.948.419.93369.836.925.01585.154.4115.45701.822.7119.91652.780.3914.7118.189.317.88237.3261.83-3.8-6.37120.5559.74-55.8-20.55-184.6988.16.43-23.27-7.61
23Q3 (18)2.5394.6273.2920.120.159.535.7864.2309.937.6546.5510.556.5970.280.33.8295.942.012.2698.2536.970.3417.2436.08.6334.637.264.27-13.71.9575.4711.63272.8124.27-25.09-69.428.38-12.53-12.16
23Q2 (17)1.3026.21-35.6420.0920.95-11.773.522.62-38.895.2245.0-39.33.8757.32-52.521.9552.34-45.531.1448.05-42.130.29-6.4520.836.4136.09-32.674.472.428.5367.61-29.260.632.39631.19-2.199.5828.94-9.62
23Q1 (16)1.03442.11-79.416.61-4.43-38.913.43-30.0-74.83.60101.12-76.892.46143.56-80.891.28132.73-83.440.77113.89-81.220.31-6.06-3.134.7170.65-70.7572.7110.1-25.1795.57-64.969.364.43102.56-64.877.436.75-18.35
22Q4 (15)0.19-86.99-96.6217.38-5.39-39.024.90247.52-67.931.79-74.13-88.271.01-84.63-91.870.55-79.55-93.40.36-78.18-92.560.3332.0-15.382.76-65.71-82.466.044.76-18.31272.731247.27172.41-172.73-317.67-148445.456.96-27.04-16.65
22Q3 (14)1.46-27.72-56.5518.37-19.32-34.421.41-75.52-88.926.92-19.53-47.016.57-19.39-37.92.69-24.86-51.181.65-16.24-48.280.254.17-16.678.05-15.35-40.9463.04-8.130.3520.24-69.88-79.2179.35139.62915.389.54-10.06.35
22Q2 (13)2.02-59.6-69.3522.77-16.26-25.155.76-57.68-70.08.60-44.8-54.578.15-36.67-46.383.58-53.69-68.351.97-51.95-68.170.24-25.0-41.469.51-40.93-50.8868.62-29.38-17.6267.20-23.1-33.7133.12162.612508.2210.6016.4849.72
22Q1 (12)5.00-11.0320.7727.19-4.67.6813.61-10.93-1.5915.582.112.0912.873.5417.757.73-7.27.214.10-15.29-3.070.32-17.95-17.9516.102.6812.0497.1720.218.787.39-12.71-12.2112.6110945.862632.489.108.9825.34
21Q4 (11)5.6267.2689.8628.501.7524.2915.2820.1333.2215.2616.8535.0412.4317.4947.988.3351.1861.754.8451.7257.140.3930.05.4115.6815.0433.1180.8428.6934.04100.122.82-1.27-0.12-104.4292.788.35-6.9122.97
21Q3 (10)3.36-49.01-16.8328.01-7.9220.9912.72-33.750.4713.06-31.014.410.58-30.393.225.51-51.28-29.813.19-48.47-27.50.30-26.83-30.2313.63-29.65.9162.82-24.59-15.997.37-3.95-3.822.63291.35313.828.9726.6929.06
21Q2 (9)6.5959.18139.6430.4220.4843.7619.2038.8384.0818.9336.1984.6815.2039.0776.9511.3156.8778.116.1946.3472.420.415.13-2.3819.3634.7381.2783.301.760.85101.381.85-0.27-1.38-397.9726.047.08-2.4811.5
21Q1 (8)4.1439.86167.125.2510.1241.5413.8320.58145.2113.9023.01122.0410.9330.1295.537.2140.0127.444.2337.34119.170.395.4114.7114.3721.99111.6381.8635.7316.1199.54-1.8410.330.46128.67-95.287.266.92-0.82
20Q4 (7)2.96-26.7385.022.93-0.9522.111.47-9.464.0911.30-9.6767.168.40-18.0558.195.15-34.3960.943.08-30.054.00.37-13.95-2.6311.78-8.4763.1660.31-19.262.12101.410.18-1.97-1.61-30.7853.326.79-2.33.35
20Q3 (6)4.0446.91134.8823.159.429.0412.6621.3880.3412.5122.0574.7210.2519.3272.567.8523.62109.894.4022.5696.430.432.3813.1612.8720.5168.6874.70-9.5621.5101.23-0.423.09-1.2333.81-156.826.959.452.81
20Q2 (5)2.7577.42235.3721.1618.6112.5510.4384.93167.4410.2563.74140.618.5953.67116.926.35100.32241.43.5986.01214.910.4223.5350.010.6857.29118.482.6017.1612.83101.6512.6710.73-1.86-119.02-122.696.35-13.25-28.57
20Q1 (4)1.55-3.130.017.84-5.010.05.64-19.310.06.26-7.40.05.595.270.03.17-0.940.01.93-3.50.00.34-10.530.06.79-5.960.070.5019.370.090.22-12.790.09.78383.560.07.3211.420.0
19Q4 (3)1.60-6.980.018.784.680.06.99-0.430.06.76-5.590.05.31-10.610.03.20-14.440.02.00-10.710.00.380.00.07.22-5.370.059.06-3.940.0103.455.350.0-3.45-259.20.06.57-2.810.0
19Q3 (2)1.72109.760.017.94-4.570.07.0280.00.07.1668.080.05.9450.00.03.74101.080.02.2496.490.00.3835.710.07.6356.030.061.48-16.020.098.196.960.02.17-73.570.06.76-23.960.0
19Q2 (1)0.820.00.018.800.00.03.900.00.04.260.00.03.960.00.01.860.00.01.140.00.00.280.00.04.890.00.073.210.00.091.800.00.08.200.00.08.890.00.0
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)7.54-13.2320.16-6.716.04-12.720.9427.066.41-23.335.15-28.1711.00-20.756.74-16.381.3016.077.45-19.1161.83-6.3794.1713.725.83-66.090.17266.917.84-11.91
2022 (9)8.69-55.8221.61-23.236.92-55.270.7474.528.36-45.997.17-42.4113.88-54.588.06-54.771.12-21.689.21-42.2666.04-18.3182.81-17.1417.1926201.890.0525.568.9013.09
2021 (8)19.6774.0728.1530.8715.4749.180.434.2915.4849.4212.4547.8630.5639.4217.8229.791.43-12.2715.9547.6980.8434.0499.93-0.170.0700.04-36.827.8715.23
2020 (7)11.30128.2821.5118.3210.3781.290.41-14.5710.3677.098.4273.6121.92111.7913.73106.781.6318.9810.8069.0160.312.12100.112.46-0.1100.06104.466.83-6.57
2019 (6)4.950.8118.18-18.295.72-12.40.4862.15.85-14.14.85-16.6710.353.096.642.471.3723.426.39-11.1359.0610.9797.711.812.29-43.170.03-45.277.31-21.82
2018 (5)4.9122.1422.254.666.5319.160.2929.116.8111.645.8221.2510.0428.396.4824.621.112.787.1911.4753.22-7.5195.976.84.03-60.220.0509.35-0.11
2017 (4)4.02189.2121.2611.025.4895.710.23-9.826.10128.464.80177.467.82263.725.20242.111.0822.736.45113.5857.5431.9189.86-14.2110.1400.0009.365.88
2016 (3)1.39-33.4919.15-2.642.80-42.860.2540.332.67-41.961.73-39.512.15-38.41.52-42.420.88-3.33.02-37.8643.6212.31104.74-1.77-4.7400.0008.8414.81
2015 (2)2.09-52.519.677.024.90-23.790.18-10.874.60-27.792.86-47.813.49-55.992.64-54.870.91-14.954.86-26.2538.8434.49106.635.69-6.3300.0007.7025.82
2014 (1)4.40-52.3318.3806.4300.20248.976.3705.4807.9305.8501.07-9.326.59-46.628.88-30.98100.8810.76-0.8800.0006.1222.16

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