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)25.9541.57127.4353.151.018.6234.44-0.4313.6343.5033.8972.035.2236.0982.588.0029.4582.656.0232.3177.060.170.00.050.7327.448.1632.27-9.2810.6379.17-25.62-33.9120.83422.98204.8827.784.71-5.57
24Q3 (19)18.33-8.359.352.620.6110.6934.59-0.616.2332.49-19.16-12.3825.88-15.73-13.136.18-11.33-12.224.55-13.66-13.660.170.0-5.5639.82-16.83-14.3735.57-7.211.82106.4522.9632.62-6.45-148.14-132.6826.533.550.04
24Q2 (18)20.007.773.0152.301.9315.5834.808.8532.7240.19-4.5819.4430.71-7.4233.876.972.543.715.27-1.3144.780.176.256.2547.88-7.346.9538.3339.332.0286.5714.0411.1613.39-44.39-39.325.62-15.05-5.91
24Q1 (17)18.5762.7569.4351.314.8612.8431.975.4819.6542.1266.5556.9933.1771.9555.516.8055.2546.245.3457.0651.70.16-5.880.051.6750.9136.6927.51-5.69-12.4775.92-36.63-23.7924.08221.296065.4530.162.520.67
23Q4 (16)11.41-31.96-16.3548.932.921.630.311.85-2.2625.29-31.8-9.919.29-35.25-8.924.38-37.78-30.483.40-35.48-26.090.17-5.56-22.7334.24-26.37-7.0629.17-8.3-19.38119.8049.258.43-19.86-200.62-90.2729.4210.94-13.75
23Q3 (15)16.7745.07-6.4247.545.0614.5829.7613.518.5237.0810.1912.3629.7929.868.67.0445.15-24.465.2744.78-18.550.1812.5-21.7446.503.8612.5631.81-15.33-21.2480.273.065.4519.73-10.57-17.3826.52-2.614.49
23Q2 (14)11.565.47-18.7145.25-0.483.8626.22-1.873.833.6525.4212.7722.947.551.964.854.3-34.643.643.41-28.210.160.0-27.2744.7718.4416.5637.5719.54-24.577.88-21.81-7.9822.075549.0144.0927.23-9.11-11.82
23Q1 (13)10.96-19.65-15.9545.47-5.595.9926.72-13.833.7726.83-4.42-9.9721.330.71-8.224.65-26.19-37.673.52-23.48-31.780.16-27.27-27.2737.802.61-1.7231.43-13.13-30.1699.61-9.8415.290.39103.74-97.1329.96-12.179.9
22Q4 (12)13.64-23.8841.4948.1616.0819.8331.0123.546.1428.07-14.9428.4121.18-22.7924.086.30-32.46.424.60-28.912.750.22-4.35-8.3336.84-10.8220.8736.18-10.42-21.91110.4945.1613.84-10.44-143.69-454.2834.1134.415.82
22Q3 (11)17.9226.02101.1241.49-4.778.7325.11-0.5932.9333.0010.5965.6627.4321.9166.559.3225.6155.076.4727.6161.350.234.55-4.1741.317.5553.6840.39-18.83-12.9776.12-10.07-19.7423.8855.96362.3225.38-17.81-16.87
22Q2 (10)14.229.05107.5943.571.567.525.26-1.926.4329.840.1348.0222.50-3.1854.647.42-0.5456.545.07-1.7456.00.220.00.038.41-0.1342.6849.7610.58-11.6584.63-2.04-14.5815.3112.621567.6230.8813.28-7.3
22Q1 (9)13.0435.2761.7942.906.743.525.7521.3519.7129.8036.3229.1723.2436.1532.127.4626.0133.215.1626.4724.040.22-8.33-8.3338.4626.1827.6945.00-2.8721.7286.40-10.98-7.2513.60361.67101.2327.26-7.44-15.26
21Q4 (8)9.648.1953.7540.195.32-0.1221.2212.335.1521.869.7416.917.073.6419.795.92-1.522.064.081.7514.290.240.0-4.030.4813.3923.546.33-0.1739.6797.052.34-10.072.95-42.98137.1729.45-3.543.51
21Q3 (7)8.9130.0719.4438.16-5.85-4.6218.89-5.46-16.1919.92-1.19-7.8216.4713.2-1.386.0126.792.214.0123.38-2.910.249.09-4.026.88-0.15-7.9846.41-17.613.1494.83-4.29-9.075.17462.56220.2730.53-8.3510.58
21Q2 (6)6.85-15.01-21.1740.53-2.22-5.3719.98-7.11-23.0720.16-12.61-22.6414.55-17.28-27.324.74-15.36-35.953.25-21.88-40.480.22-8.33-18.5226.92-10.62-13.6956.3252.3422.9299.086.37-0.60.92-86.41183.3233.313.540
21Q1 (5)8.0628.55102.0141.453.0115.8521.516.5944.2723.0723.3734.0517.5923.4427.655.6015.4665.194.1616.5356.390.24-4.026.3230.1222.0415.2336.9711.4640.4693.15-13.697.486.76185.28-49.3232.1713.0837.42
20Q4 (4)6.27-15.950.040.240.570.020.18-10.470.018.70-13.470.014.25-14.670.04.85-17.520.03.57-13.560.00.250.00.024.68-15.510.033.17-19.140.0107.923.480.0-7.92-84.470.028.453.040.0
20Q3 (3)7.46-14.150.040.01-6.580.022.54-13.210.021.61-17.080.016.70-16.580.05.88-20.540.04.13-24.360.00.25-7.410.029.21-6.350.041.02-10.480.0104.304.630.0-4.30-1425.220.027.6100.0
20Q2 (2)8.69117.790.042.8319.70.025.9774.180.026.0651.420.020.0245.280.07.40118.290.05.46105.260.00.2742.110.031.1919.320.045.8274.090.099.6815.010.00.32-97.570.00.00-100.00.0
20Q1 (1)3.990.00.035.780.00.014.910.00.017.210.00.013.780.00.03.390.00.02.660.00.00.190.00.026.140.00.026.320.00.086.670.00.013.330.00.023.410.00.0
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)82.7763.4252.4111.7734.0520.027.36-22.7839.4528.4231.1833.327.8631.1121.4432.180.68-1.4547.3116.0132.2710.6386.32-6.5513.6878.950.439.3527.42-3.01
2023 (9)50.65-13.7446.896.4528.375.789.5316.7430.721.6523.39-1.121.25-29.4316.22-24.840.69-24.1840.785.1329.17-19.3892.374.067.65-31.940.40-27.5128.27-3.91
2022 (8)58.7276.2344.0510.1226.8231.68.1716.1530.2242.4123.6543.7730.1139.221.5839.230.91-3.1938.7935.4936.18-21.9188.77-7.5511.23181.80.55-30.0829.42-5.77
2021 (7)33.3226.1640.00-0.220.38-4.947.039.0321.220.016.450.321.633.0515.50-3.310.94-3.0928.632.5146.3339.6796.01-4.973.9900.78-3.6231.2224.93
2020 (6)26.4131.3340.0810.621.4417.616.45-4.8921.2213.0516.4015.4120.999.7216.0311.470.97-3.027.938.3433.1711.42101.044.01-1.0400.8131.7124.999.89
2019 (5)20.1116.8536.2410.9318.2322.436.7810.218.7716.0114.2110.7619.132.4614.386.61.00-3.8525.7814.3729.77-25.0197.145.572.86-64.180.6141.1822.74-6.42
2018 (4)17.2168.2332.671.0214.8928.036.153.1916.1835.412.8336.9318.6755.8413.4951.911.0410.6422.5425.0139.700.7992.01-5.577.99202.950.44104.5524.30-4.03
2017 (3)10.2338.6232.341.7311.6341.665.9665.1311.9518.439.3728.3611.9848.648.8845.810.9413.2518.0330.6539.3925.4997.4419.82.64-85.870.21025.32-4.63
2016 (2)7.38-13.3831.79-5.758.21-13.763.617.2310.09-24.147.30-23.328.06-17.766.09-17.810.837.7913.80-18.3931.39-8.381.3413.6718.66-34.390.00026.550.45
2015 (1)8.52-26.1133.7309.5203.373.9413.3009.5209.8007.4100.77-4.9416.91-15.6634.230.7171.56-11.4628.4448.280.00026.4335.12

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