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)10.3626.34110.1463.24-1.69-1.5638.13-4.2721.8646.2032.7234.7738.6122.6938.7410.7127.2114.638.2128.89157.370.215.090.9152.8124.0314.743.48134.77-53.5582.48-27.83-9.6317.52222.65100.6214.7019.71-20.63
23Q4 (19)8.2014.53-34.8764.332.83-0.7339.8320.55-14.3134.81-18.32-18.7431.47-7.3-12.248.425.25-23.86.3728.69-24.530.2042.86-16.6742.58-19.77-11.2918.52-62.27-42.25114.2947.755.21-14.29-163.91-69.0512.28-33.12648.78
23Q3 (18)7.1612.4-54.7762.56-4.68-3.3733.044.52-27.1442.622.3-25.3633.95-3.93-25.868.003.63-48.954.9520.15-53.430.1416.67-39.1353.070.25-14.1549.08-40.0564.777.351.82-2.6922.35-6.978.2818.36-6.9-4.52
23Q2 (17)6.3729.21-57.2565.632.160.6931.611.02-35.1141.6621.53-16.5335.3426.99-10.67.7254.71-55.734.1229.15-59.170.129.09-53.8552.9414.99-1.8981.87-12.5318.075.97-16.76-22.1724.03175.12904.9519.726.4880.09
23Q1 (16)4.93-60.84-63.8664.24-0.86-2.2431.29-32.68-33.9534.28-19.98-32.9927.83-22.39-31.544.99-54.84-65.373.19-62.2-66.70.11-54.17-54.1746.04-4.08-17.993.60191.8621.4891.27-15.98-1.558.73203.3516.9118.521029.2761.46
22Q4 (15)12.59-20.472.6964.800.09-2.0646.482.49-3.3542.84-24.97-11.1435.86-21.69-12.0211.05-29.48-12.38.44-20.6-11.250.244.354.3548.00-22.36-10.5132.077.6212.57108.6336.658.85-8.45-140.94-4300.01.64-91.47-85.27
22Q3 (14)15.836.2457.6764.74-0.68-1.1345.35-6.9-3.4157.1014.4123.6745.7915.8424.9415.67-10.1534.2810.635.3536.460.23-11.549.5261.8214.5718.2329.80-57.05-20.6679.49-18.56-21.7720.64763.381379.8919.2375.6260.25
22Q2 (13)14.909.2469.1365.18-0.81-0.1548.712.839.0949.91-2.4423.5139.53-2.7620.1517.4421.0351.7810.095.3245.180.268.3323.8153.96-3.7816.0269.38-9.956.9597.615.3-11.72.39-67.99122.6810.95-4.534.09
22Q1 (12)13.6411.2689.1865.71-0.682.7747.37-1.516.1351.166.1224.340.65-0.2723.5914.4114.3759.769.580.7451.580.244.3526.3256.084.5516.3577.05170.4516.0692.70-7.11-6.397.473612.73669.4411.473.05-21.65
21Q4 (11)12.2622.1181.966.161.042.5748.092.4316.9248.214.4226.5740.7611.2123.2512.607.9757.79.5122.0855.140.239.5227.7853.642.5817.1928.49-24.1521.0399.80-1.79-7.50.20112.47102.5511.13-7.25-12.43
21Q3 (10)10.0413.9647.2165.480.312.8646.955.1513.9646.1714.2516.3336.6511.415.1411.671.5732.467.7912.0929.190.210.010.5352.2912.4311.0937.56-42.1-2.57101.61-8.08-2.09-1.6184.757.3312.0014.07-4.38
21Q2 (9)8.8122.19-6.8765.282.14.5744.659.463.3140.41-1.82-7.1732.900.03-8.1311.4927.38-15.896.959.97-16.670.2110.53-8.746.51-3.51-5.6264.87-2.2916.19110.5411.6211.11-10.54-1185.68-1477.310.52-28.140
21Q1 (8)7.216.9712.8363.94-0.872.4540.79-0.832.0841.168.068.3232.89-0.5410.419.0212.89-0.116.323.14.640.195.56-5.048.205.316.9266.39182.03-9.8399.03-8.22-6.040.97112.3119.2814.6415.1818.16
20Q4 (7)6.74-1.17-1.3264.501.323.1241.13-0.171.5338.09-4.033.8733.073.92.77.99-9.31-13.626.131.66-9.850.18-5.26-14.2945.77-2.766.7423.54-38.94-21.09107.893.96-2.42-7.89-108.8525.2812.711.27-9.28
20Q3 (6)6.82-27.910.063.661.971.4841.20-4.67-0.7739.69-8.82-6.1931.83-11.11-5.978.81-35.51-13.716.03-27.7-12.480.19-17.39-5.047.07-4.48-2.338.55-30.95-11.93103.784.315.96-3.78-593.93-320.012.5506.72
20Q2 (5)9.4648.0477.8262.430.03-3.2543.228.167.2543.5314.551.5935.8120.213.4713.6651.2779.278.3438.0848.130.2315.043.7549.289.32-0.8755.83-24.173.2299.49-5.65.620.77115.2-86.810.00-100.0-100.0
20Q1 (4)6.39-6.440.062.41-0.220.039.96-1.360.038.003.630.029.79-7.480.09.03-2.380.06.04-11.180.00.20-4.760.045.085.130.073.63146.830.0105.40-4.680.0-5.0452.340.012.39-11.560.0
19Q4 (3)6.830.150.062.55-0.290.040.51-2.430.036.67-13.330.032.20-4.870.09.25-9.40.06.80-1.310.00.215.00.042.88-11.00.029.83-31.850.0110.5712.890.0-10.57-714.940.014.0119.130.0
19Q3 (2)6.8228.20.062.73-2.790.041.523.030.042.31-1.260.033.85-2.20.010.2133.990.06.8922.380.00.2025.00.048.18-3.080.043.77-19.080.097.943.970.01.72-70.390.011.76-11.580.0
19Q2 (1)5.320.00.064.530.00.040.300.00.042.850.00.034.610.00.07.620.00.05.630.00.00.160.00.049.710.00.054.090.00.094.200.00.05.800.00.013.300.00.0
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)26.66-52.1564.14-1.4634.49-26.624.09102.9138.17-23.9532.16-20.4224.20-53.8319.38-51.830.60-39.3948.24-12.118.52-42.2590.38-3.59.6251.613.646.8316.7855.8
2022 (9)55.7245.4865.09-0.3447.003.482.02-22.050.1913.440.4111.9752.4230.7640.2326.390.9912.554.888.9832.0712.5793.65-8.736.35012.77-10.4610.77-9.72
2021 (8)38.3030.3665.313.3545.429.52.58-13.9544.2610.5136.0910.0640.0912.4531.8312.630.882.3350.367.3128.4921.03102.61-0.94-2.61014.26-29.2311.93-1.97
2020 (7)29.3820.4663.19-0.0841.482.193.0052.2140.05-1.5532.79-2.035.656.4228.266.080.868.8646.93-0.1123.54-21.09103.593.89-3.59020.16-15.0312.17-7.24
2019 (6)24.3920.7463.245.5940.599.291.9737.0740.682.5733.465.0533.507.6126.646.650.791.2846.981.9129.8337.9199.706.430.20-96.8723.72-24.1513.121.94
2018 (5)20.2028.6659.893.4237.148.631.449.0339.6619.4231.8513.5531.1316.5524.9823.720.788.3346.1015.0521.63-23.2293.68-9.076.32031.27012.87-3.16
2017 (4)15.7011.5857.911.5834.19-13.971.32-42.6933.21-17.8228.05-15.3626.71-11.4720.19-13.530.722.8640.07-7.9728.17-25.61103.024.75-2.8600.00013.2925.26
2016 (3)14.0730.457.012.0439.747.172.3014.3540.413.0633.14-3.2430.17-14.9723.35-22.860.70-20.4543.540.7937.87163.3598.353.961.65-69.350.00010.61-11.88
2015 (2)10.790.6555.871.5137.083.922.0123.1539.213.1834.254.4235.48-0.9830.270.530.88-4.3543.202.1514.38-32.0494.600.85.40-12.280.00012.045.34
2014 (1)10.7244.8655.04035.6801.64-43.1438.00032.80035.83030.1100.924.5542.2912.0921.1627.3993.850.036.15-0.510.00011.43-11.4

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