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
24Q3 (20)-0.23-27.7870.1315.67-17.9630.04-2.51-37.1680.74-2.90-16.4775.26-2.35-15.7675.05-0.73-28.0767.26-0.15-200.083.70.157.1425.07.31-20.54458.02100.41-1.163.0587.5026.39-21.2512.50-45.83212.523.88-11.75-30.6
24Q2 (19)-0.18-157.1468.4219.108.6528.27-1.8342.2782.59-2.49-162.1170.07-2.03-153.7571.16-0.57-171.4365.03-0.05-162.592.190.147.6916.679.20-16.8275.24101.596.15.1869.23-76.92-45.1923.08110.49187.6927.067.5910.86
24Q1 (18)-0.0794.0778.1217.5880.86-12.49-3.1779.8-1278.26-0.9595.4676.07-0.8094.7575.83-0.2194.176.40.08105.0128.570.138.33-7.1411.06246.4954.4795.75-4.253.73300.00295.656500.0-220.00-970.43-342.025.150.366.84
23Q4 (17)-1.18-53.25-12.389.72-19.34-33.92-15.69-20.41-23.74-20.92-78.5-20.3-15.25-61.89-9.55-3.56-59.64-25.8-1.60-73.91-22.140.120.09.09-7.55-676.34-145.93100.002.6311.4875.82-31.763.9125.27327.47-6.4825.06-27.17-15.99
23Q3 (16)-0.77-35.09-741.6712.05-19.07-34.79-13.03-23.98-103.28-11.72-40.87-949.28-9.42-33.81-787.59-2.23-36.81-796.87-0.92-43.75-417.240.120.00.01.31-75.05-89.9297.440.883.78111.11-12.04125.09-11.1157.78-102.0534.4140.9724.36
23Q2 (15)-0.57-78.12-290.014.89-25.88-29.13-10.51-4469.57-614.97-8.32-109.57-528.87-7.04-112.69-318.63-1.63-83.15-298.78-0.64-128.57-223.080.12-14.29-7.695.25-26.68-55.3696.594.64-2.59126.322678.95257.89-26.32-128.95-114.6224.413.7-2.9
23Q1 (14)-0.3269.52-140.5120.0936.57-10.15-0.2398.19-104.55-3.9777.17-143.34-3.3176.22-147.29-0.8968.55-140.64-0.2878.63-123.930.1427.27-6.677.16333.22-57.3892.312.91-7.884.55-93.77-91.7690.91236.36102.823.54-21.099.23
22Q4 (13)-1.05-975.0-200.014.71-20.4-10.63-12.68-97.82-128.88-17.39-1360.14-220.85-13.92-1116.06-228.3-2.83-984.38-183.0-1.31-551.72-227.50.11-8.330.0-3.07-123.63-168.8389.70-4.46-17.1472.97116.48-27.0327.03-95.02802.729.837.81-4.48
22Q3 (12)0.12-60.0-81.5418.48-12.041.82-6.41-336.05-425.411.38-28.87575.861.37-57.45-79.430.32-60.98-82.420.29-44.23-70.710.12-7.69-7.6912.9910.4658.893.89-5.31-7.48-442.86-453.57-226.53542.86201.59317.1427.6710.0619.58
22Q2 (11)0.30-62.03900.021.01-6.04-10.21-1.47-129.05-138.081.94-78.8236.623.22-54.0973.330.82-62.56811.110.52-55.56300.00.13-13.33-7.1411.76-30.033.4899.16-1.05-9.38-80.00-245.0-127.83180.00301.54202.8625.1416.66-3.31
22Q1 (10)0.79325.7188.122.3635.843.475.06191.3413.719.16269.088.487.00265.0979.032.19319.079.511.17392.569.570.1536.360.016.80276.6840.59100.21-7.44-2.1555.17-44.83-38.744.831265.52348.2821.55-31.0-15.95
21Q4 (9)-0.35-153.85-155.5616.46-9.31-48.74-5.54-354.1-144.5-5.42-1768.97-155.88-4.24-163.66-170.78-1.00-154.95-154.05-0.40-140.4-139.60.11-15.38-26.674.46-45.48-72.6108.266.684.79100.00-71.43-21.62-3.8598.4686.0631.2334.9615.8
21Q3 (8)0.652066.67296.9718.15-22.44-0.82-1.22-131.6165.04-0.29-120.4291.816.662120.0308.121.821922.22289.580.99661.54341.460.13-7.14-13.338.18-7.15178.23101.48-7.260.07350.0021.74267.5-250.00-42.86023.14-11.0-12.45
21Q2 (7)0.03-92.86105.7723.408.2831.833.86-13.26156.521.42-70.78117.070.30-92.33104.390.09-92.62106.290.13-81.16119.40.14-6.6727.278.81-26.283570.83109.436.859.56287.50219.44246.98-175.00-1850.0-1120.8326.001.40
21Q1 (6)0.42-33.331500.021.61-32.710.484.45-64.26161.894.86-49.9167.223.91-34.72988.641.22-34.051625.00.69-31.682200.00.150.050.011.95-26.6702.01102.41-0.8718.9690.00-29.46-10.010.00136.25025.64-4.930
20Q4 (5)0.63290.91250.032.1175.4661.612.45456.73388.199.70374.01271.995.99287.19227.991.85292.71265.181.01346.34287.040.150.015.3816.28453.741561.22103.311.8720.45127.5933.9768.18-27.590-214.2926.972.04-0.59
20Q3 (4)-0.3336.540.018.303.10.0-3.4948.90.0-3.5457.450.0-3.2053.150.0-0.9632.870.0-0.4138.810.00.1536.360.02.941125.00.0101.411.530.095.2414.940.0-0.00-100.00.026.4300.0
20Q2 (3)-0.52-1633.330.017.75-9.250.0-6.835.010.0-8.32-15.080.0-6.83-1452.270.0-1.43-1687.50.0-0.67-2333.330.00.1110.00.00.24-83.890.099.8816.020.082.86-17.140.017.1400.00.0000.0
20Q1 (2)-0.0392.860.019.56-1.560.0-7.19-66.440.0-7.23-28.190.0-0.4490.60.0-0.0892.860.00.03105.560.00.10-23.080.01.4952.040.086.090.370.0100.0031.820.00.00-100.00.00.00-100.00.0
19Q4 (1)-0.420.00.019.870.00.0-4.320.00.0-5.640.00.0-4.680.00.0-1.120.00.0-0.540.00.00.130.00.00.980.00.085.770.00.075.860.00.024.140.00.027.130.00.0
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)-2.84014.51-25.78-9.36010.0718.53-10.790-8.440-8.310-3.4600.51-1.921.90-82.11100.0011.4886.83013.17-99.580.44-29.1926.734.45
2022 (9)0.17-77.3319.55-2.93-2.9008.4927.530.08-83.670.46-75.790.47-78.140.74-47.520.52-5.4510.6222.9289.70-17.14-3000.0003100.0000.6211.9225.59-2.7
2021 (8)0.75020.14-10.690.7706.667.480.4901.9002.1501.4100.557.848.6442.81108.264.79154.55943.18-54.5500.56-4.5926.30-6.34
2020 (7)-0.24022.55-2.38-0.1906.2019.51-1.350-0.680-0.670-0.0400.51-7.276.05-82.2103.3120.4514.81085.19-15.420.58-1.3428.083.65
2019 (6)6.97171.2123.10-13.77-0.2105.190.4127.80191.419.38169.9219.86152.3510.94127.440.55-14.0633.98113.1785.77-0.49-0.710100.71590.590.59-24.5627.0912.83
2018 (5)2.57634.2926.7912.378.15153.115.16-23.919.54544.597.18535.47.87642.454.81406.320.646.6715.9466.5686.1950.6885.42-60.3414.5800.78024.01-5.02
2017 (4)0.35-76.9723.84-11.83.22-47.566.79-5.041.48-77.051.13-76.71.06-76.180.95-70.40.60-1.649.57-35.657.207.34215.38127.35-115.3800.00025.281.44
2016 (3)1.52-32.4427.036.386.14-2.857.1510.726.45-23.584.85-26.184.45-31.963.21-30.820.61-7.5814.86-9.1153.2914.3194.7426.844.39-82.670.00024.922.21
2015 (2)2.25-3.0225.41-0.276.329.536.4519.818.4412.996.578.66.54-6.74.64-2.110.66-9.5916.3516.246.62-15.2474.69-3.0225.3110.130.00024.38-12.55
2014 (1)2.32-2.5225.4805.7705.3910.957.4706.0507.0104.7400.73-3.9514.0710.0955.00-9.7677.024.7722.98-13.250.00027.88-1.03

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