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)3.7368.78936.1188.380.524.3117.68-34.69320.4527.83-14.34313.4240.3652.19473.34.6164.64840.824.1262.85815.560.1011.1166.6731.09-13.93582.7613.0811.51-5.763.50-23.893.4236.50118.77-5.4521.4516.83-29.21
24Q3 (19)2.215.74229.8587.921.08-3.0427.0741.06154.8232.49-19.12122.3826.52-10.0174.472.802.56245.682.532.43241.890.0912.580.036.12-18.6785.7111.733.26-7.7883.4374.58124.7116.69-68.04-96.1918.36-35.28-63.69
24Q2 (18)2.09109.0437.186.98-1.51-5.2219.191710.38159.4540.1798.47350.2829.4747.5283.842.7399.27352.782.47100.81390.590.0833.3333.3344.4171.53532.011.36-1.7320.8547.79789.4-76.2252.21-44.82151.728.37-22.3-42.61
24Q1 (17)1.00177.78140.9888.314.233.891.06113.22101.2920.24255.21123.6419.98183.81124.111.37179.59122.611.23173.33127.210.060.00.025.89502.02133.3211.56-16.65-68.245.37-91.25-94.3994.63145.122147.3936.5120.5-62.32
23Q4 (16)0.36-46.27167.9284.73-6.56-3.91-8.0283.7688.35-13.04-189.2582.227.04-53.68139.40.49-39.51128.650.45-39.19136.00.0620.0-14.29-6.44-133.1190.2513.879.04-47.2461.40118.18-34.6938.60-91.18526.8230.30-40.07-33.45
23Q3 (15)0.67208.06146.5390.68-1.1919.44-49.38-52.9729.1414.61191.03128.9815.20194.82130.150.81175.0110.920.74187.06113.430.05-16.67-54.5519.45289.2144.8212.7235.32-65.84-337.70-268.02-344.46437.70533.431247.5550.562.29-23.07
23Q2 (14)-0.6274.5936.7391.777.9654.44-32.2860.643.35-16.0581.2542.88-16.0380.6542.95-1.0882.1881.05-0.8581.1979.910.060.0-60.0-10.2886.7753.469.40-74.18-69.47200.99109.8269.02-100.99-2498.4-434.0649.43-48.9927.79
23Q1 (13)-2.44-360.38-24.4985.00-3.6163.34-82.01-19.1162.93-85.62-16.7160.15-82.86-363.6861.43-6.06-254.3953.67-4.52-261.650.760.06-14.2950.0-77.70-17.6758.5236.4038.46-3.9695.791.9-6.964.21-31.63242.3796.90112.83-20.31
22Q4 (12)-0.5363.1984.4688.1816.1556.07-68.851.2172.51-73.36-45.568.56-17.8764.5692.34-1.7176.9594.04-1.2577.3193.170.07-36.36-12.5-66.03-52.1469.5126.29-29.4-42.6494.00-31.95-12.426.16116.15184.0445.53-30.72-57.74
22Q3 (11)-1.44-46.9446.6775.9227.77193.58-69.69-108.6590.88-50.42-79.4393.37-50.42-79.4393.37-7.42-30.1875.92-5.51-30.2670.30.11-26.67450.0-43.40-96.4793.7837.2420.95-53.66138.1416.1737.55-38.14-101.71-8799.7665.7269.91-85.77
22Q2 (10)-0.9850.052.8859.4214.18202.39-33.4084.994.67-28.1086.9295.49-28.1086.9295.49-5.7056.4269.6-4.2353.9265.470.15275.0650.0-22.0988.2196.0130.79-18.76-43.98118.9115.4918.25-18.91-539.36-3309.9438.68-68.19-87.87
22Q1 (9)-1.9642.5225.4852.04-7.89130.37-221.2411.6865.35-214.847.9469.28-214.847.9469.28-13.0854.4332.3-9.1849.8130.770.04-50.0100.0-187.3013.5270.6837.90-17.3-24.79102.96-4.0712.69-2.9659.64-134.24121.6012.86-68.58
21Q4 (8)-3.41-26.30.5856.50118.4816.49-250.5067.21-10.28-233.3769.3218.15-233.3769.3218.0-28.706.88-53.89-18.291.4-31.390.08300.060.0-216.5868.9619.3345.83-42.9811.48107.336.8734.65-7.33-1609.88-136.12107.74-76.6733.74
21Q3 (7)-2.70-29.81-11.5725.8631.6356.8-763.89-21.94-88.67-760.72-22.07-65.1-760.72-22.07-64.77-30.82-64.37-108.53-18.55-51.43-63.290.020.00.0-697.83-25.96-64.6380.3746.23188.06100.43-0.1314.35-0.4322.71-103.52461.8044.76182.07
21Q2 (6)-2.0820.91-126.0919.65-13.01-54.19-626.441.9-270.59-623.1710.9-292.7-623.1710.9-291.91-18.752.95-141.0-12.257.62-110.840.020.0-50.0-554.0213.27-345.2554.969.0769.79100.5510.06-5.82-0.55-106.4291.8319.00-17.590
21Q1 (5)-2.6323.32-102.3122.59-53.42143.7-638.55-181.1398.44-699.42-145.398.3-699.42-145.7698.3-19.32-3.59-40.61-13.264.74-28.360.02-60.00-638.78-137.9297.4650.3922.5749.3591.3614.61-8.018.64-57.421161.2387.07380.47-97.67
20Q4 (4)-3.43-41.740.048.50581.630.0-227.1443.90.0-285.1338.120.0-284.6038.360.0-18.65-26.180.0-13.92-22.540.00.05150.00.0-268.4936.660.041.1147.350.079.71-9.240.020.2966.630.080.56-50.790.0
20Q3 (3)-2.42-163.040.0-10.07-123.480.0-404.89-139.520.0-460.75-190.350.0-461.69-190.350.0-14.78-89.970.0-11.36-95.520.00.02-50.00.0-423.88-240.660.027.90-13.810.087.82-17.740.012.18280.020.0163.7200.0
20Q2 (2)-0.9229.230.042.89182.980.0-169.0499.590.0-158.6999.610.0-159.0199.610.0-7.7843.380.0-5.8143.760.00.0400.0-124.4399.50.032.37-4.060.0106.767.50.0-6.76-1087.440.00.00-100.00.0
20Q1 (1)-1.300.00.0-51.690.00.0-40850.100.00.0-41067.500.00.0-41067.500.00.0-13.740.00.0-10.330.00.00.000.00.0-25100.000.00.033.740.00.099.320.00.00.680.00.016583.100.00.0
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)8.96087.91-0.1517.8303.25-27.6230.76030.46011.54010.2300.3337.534.77013.08-5.757.96-70.0942.0400.88-10.5724.78-52.16
2023 (9)-1.93088.0422.58-37.4804.48-36.64-19.330-12.220-3.460-2.7500.24-11.11-13.14013.87-47.24193.8276.04-93.8200.98-36.4251.80-6.72
2022 (8)-4.84071.8269.83-70.3707.08-78.96-63.910-47.700-16.770-12.6300.27145.45-55.34026.29-42.64110.109.67-10.1001.55-61.0655.53-75.52
2021 (7)-10.80042.2928.11-429.91033.649.57-428.170-428.170-68.810-47.7900.11-15.38-391.78045.8311.48100.3913.96-0.3903.97-0.67226.8788.38
2020 (6)-8.04033.01-58.64-307.91030.70-29.89-349.570-349.590-63.100-45.7300.1318.18-316.88041.1131.6488.09-12.6411.9104.0020.64120.43-21.97
2019 (5)-3.85079.820-277.80043.79-78.92-275.490-275.770-35.670-29.0400.111000.0-227.78031.23131.85100.83-0.7-0.8303.31480.62154.34-87.95
2018 (4)-4.760-8.230-4020.770207.69-85.92-3960.850-3963.100-35.070-32.0800.010-3765.38013.47120.1101.54-0.4-1.5400.5701280.63-82.21
2017 (3)-4.010106.4934.41-22044.0001475.0025.0-21618.500-21618.500-22.580-21.3200.000-20175.0006.1214.61101.951.47-1.9500.0007196.5832.3
2016 (2)-4.14079.230-15506.7001180.00144.14-15437.900-15437.900-34.070-30.4500.000-15580.0005.34-89.51100.47-0.58-0.4700.0005439.6972.28
2015 (1)-4.500-262.890-7436.820483.3318.55-7362.160-7362.160-79.070-63.1000.010.0-6458.33050.91293.13101.06-0.12-1.0600.0003157.5137.47

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