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)2.2392.2481.330.3710.01.215.9426.2117.6417.4829.9634.4615.0449.2136.234.3785.9678.373.3382.9781.970.2229.4137.522.7313.8211.234.942.92-13.6291.11-2.97-13.448.8945.78325.1915.55-13.23-24.4
23Q4 (19)1.16-2.5243.2127.61-5.380.2512.63-10.0417.3813.45-6.451.2910.084.1341.772.35-4.0843.291.82-4.2145.60.17-5.566.2519.97-7.2925.9133.95-4.74-15.2193.90-4.03-22.246.10183.54129.3817.92-3.71-13.72
23Q3 (18)1.19-25.63-36.3629.1810.8220.7314.04118.69147.6214.37-32.41-15.629.68-42.65-41.012.45-24.85-36.861.90-18.8-28.840.1828.5712.521.54-27.08-9.035.64-18.11-17.2597.85227.18193.552.15-96.89-96.7718.61-28.04-20.61
23Q2 (17)1.6030.08-33.8826.33-12.26-14.656.42-52.62-45.5921.2663.54-14.3816.8852.9-23.623.2633.06-34.932.3427.87-32.950.14-12.5-12.529.5444.52-5.4743.527.59-19.4529.91-71.59-37.1169.161852.0231.8625.8625.72-1.34
23Q1 (16)1.2351.85-21.6630.018.97-2.1813.5525.93-3.3513.0046.23-11.9811.0455.27-10.682.4549.39-25.31.8346.4-24.690.160.0-20.020.4428.882.6640.451.0217.79105.26-12.8310.86-3.9580.98-178.1620.57-0.96-6.12
22Q4 (15)0.81-56.68-24.327.5413.94-11.2210.7689.776.648.89-47.8-11.287.11-56.67-18.651.64-57.73-29.611.25-53.18-21.380.160.0-11.1115.86-33.05.5940.04-7.0410.64120.75262.2620.75-20.75-131.13020.77-11.391.91
22Q3 (14)1.87-22.73-34.6224.17-21.65-26.585.67-51.95-67.4317.03-31.41-9.2216.41-25.75-5.743.88-22.55-45.892.67-23.5-38.480.160.0-36.023.67-24.265.7643.07-20.29-32.533.33-29.9-63.9766.6727.11790.9123.44-10.5716.79
22Q2 (13)2.4254.1446.6730.850.55-3.6511.80-15.83-27.7424.8368.1171.8322.1078.880.565.0152.7419.863.4943.6230.710.16-20.0-27.2731.2556.9667.4754.0357.34-20.4547.55-49.92-57.8852.45938.46506.4726.2119.6314.3
22Q1 (12)1.5746.73-41.4230.68-1.1-7.3114.0238.95-23.9314.7747.41-27.8512.3641.42-29.693.2840.77-52.122.4352.83-47.970.2011.11-25.9319.9132.56-17.2834.34-5.11-27.2694.95-5.055.585.050-49.8321.917.5110.05
21Q4 (11)1.07-62.59-44.5631.02-5.77-3.2710.09-42.04-44.6810.02-46.59-30.228.74-49.8-33.792.33-67.5-56.041.59-63.36-56.910.18-28.0-35.7115.02-32.89-16.636.19-43.28-22.14100.008.09-21.260.00-100.0100.020.381.5431.82
21Q3 (10)2.8673.3377.6432.922.81-1.2617.416.61-9.8918.7629.8319.5717.4142.2432.77.1771.5351.274.3462.5529.550.2513.64-3.8522.3819.9413.8463.81-6.0558.1892.52-18.06-24.687.48157.99132.7820.07-12.4740.45
21Q2 (9)1.65-38.4318.7132.02-3.26-6.6516.33-11.391.1814.45-29.41-20.5212.24-30.38-23.214.18-38.983.472.67-42.83-9.490.22-18.5222.2218.66-22.48-21.9667.9243.8758.88112.9025.5426.38-12.90-228.17-220.9722.9315.1743.58
21Q1 (8)2.6838.86150.4733.103.2115.4918.431.0471.2820.4742.5532.3217.5833.1828.416.8529.25126.074.6726.56100.430.27-3.5758.8224.0733.657.8947.211.5748.7989.93-29.1930.410.07137.29-67.5619.9128.785.34
20Q4 (7)1.9319.88112.0932.07-3.815.5618.24-5.5970.4714.36-8.4845.6413.200.6123.365.3011.81119.013.6910.1596.280.287.6964.7118.01-8.398.3646.4815.2239.87127.003.417.47-27.00-18.29-233.015.468.19-35.48
20Q3 (6)1.6115.838.0533.34-2.86.2819.3219.733.0615.69-13.7-13.7413.12-17.69-16.384.7417.334.183.3513.56-0.890.2644.4423.8119.66-17.77-19.1940.34-5.6436.01122.8337.4953.53-22.83-313.99-214.1314.29-10.52-14.53
20Q2 (5)1.3929.91-17.2634.3019.68-3.616.1450.0-5.5618.1817.52-10.8415.9416.44-7.594.0433.33-31.762.9526.61-28.920.185.88-25.023.917.17-10.5242.7534.73-4.7589.3329.535.9210.67-65.63-31.915.97-15.5-5.5
20Q1 (4)1.0717.580.028.66-5.660.010.760.560.015.4756.90.013.6927.940.03.0325.210.02.3323.940.00.170.00.022.3134.240.031.73-4.510.068.97-36.210.031.03482.760.018.90-21.120.0
19Q4 (3)0.91-38.930.030.38-3.160.010.70-26.310.09.86-45.790.010.70-31.80.02.42-46.810.01.88-44.380.00.17-19.050.016.62-31.690.033.2312.040.0108.1135.140.0-8.11-140.540.023.9643.30.0
19Q3 (2)1.49-11.310.031.37-11.830.014.52-15.040.018.19-10.790.015.69-9.040.04.55-23.140.03.38-18.550.00.21-12.50.024.33-8.940.029.66-33.910.080.00-5.140.020.0027.690.016.72-1.070.0
19Q2 (1)1.680.00.035.580.00.017.090.00.020.390.00.017.250.00.05.920.00.04.150.00.00.240.00.026.720.00.044.880.00.084.340.00.015.660.00.016.900.00.0
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)5.18-22.2228.370.0711.9211.926.5110.515.26-6.1511.66-18.8610.50-24.688.02-21.830.66-5.7122.560.0433.95-15.2178.2119.4221.79-36.860.14-25.5120.46-11.12
2022 (9)6.66-18.5828.35-12.3610.65-32.855.8952.216.26-0.4314.37-0.0713.94-25.1710.26-22.970.70-23.9122.5510.5940.0410.6465.49-32.5534.511086.570.195.8923.0210.83
2021 (8)8.1836.3332.350.2815.86-5.483.87-15.8216.334.0114.384.0518.6312.8413.3212.690.928.2420.39-0.2436.19-22.1497.09-9.342.9100.1819.1420.7731.04
2020 (7)6.0018.8132.26-0.4916.7815.644.60-23.215.70-0.2513.82-0.7216.513.7111.823.230.856.2520.44-7.6446.4839.87107.1016.41-6.7900.15-15.7115.85-19.79
2019 (6)5.05-3.2632.42-2.6714.516.35.9913.0915.741.2213.921.2415.92-25.9911.45-18.210.80-19.1922.133.5133.23-39.9492.004.97.60-38.190.18-22.219.76-13.52
2018 (5)5.2223.733.31-6.6413.65-17.425.30-1.1815.55-2.7513.75-3.3121.518.6914.004.40.998.7921.38-2.5555.33-10.2487.70-14.9712.3000.23022.858.97
2017 (4)4.2231.0635.6823.5516.5360.955.36-13.8915.999.3714.228.8819.79013.4100.91021.943.0561.6446.1103.1447.63-3.1400.00020.97-1.83
2016 (3)3.22028.88010.2706.22014.62013.0600.0000.0000.00021.29042.19069.86029.4500.00021.360

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