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)-0.21-90.91-950.032.0828.1758.65-18.14-93.18-158.4-14.17-168.37-1567.06-14.17-168.37-1607.23-1.36-83.78-871.43-1.25-83.82-941.670.09-30.77-40.0-10.81-192.1608.712.11-28.9140.00-16.0-72.0-20.0070.095.042.3050.4383.36
24Q2 (19)-0.118.3356.025.037.6669.81-9.396.125.36-5.28-7.140.27-5.28-7.140.14-0.740.051.32-0.68-1.4950.360.13-7.14-18.75-3.70-9.1448.188.530.35-23.63166.67-16.6711.11-66.6733.33-33.3328.124.8931.59
24Q1 (18)-0.1260.070.7323.25-6.5141.42-10.0035.0250.17-4.9365.8475.61-4.9365.7675.69-0.7461.0570.28-0.6760.1270.090.1416.6727.27-3.3974.8182.718.50-36.33-18.43200.00100.0100.0-100.00-700.0026.81-17.05-9.0
23Q4 (17)-0.30-1400.0-900.024.8723.04.15-15.39-119.23-3374.47-14.43-1597.65-561.93-14.40-1634.94-1770.13-1.90-1257.14-1087.5-1.68-1300.0-1100.00.12-20.0-33.33-13.460-1060.3413.358.9812.85100.00-80.00-12.5096.88-112.532.3240.171.01
23Q3 (16)-0.0292.0-111.7620.2237.18-4.85-7.0244.2-31.95-0.8590.38-111.0-0.8390.59-113.83-0.1490.79-113.59-0.1291.24-113.330.15-6.250.00.00100.0-100.012.259.677.17500.00233.33850.0-400.00-700.0-366.6723.077.961.45
23Q2 (15)-0.2539.02-150.014.74-10.34-39.64-12.5837.32-327.9-8.8456.26-159.17-8.8256.51-163.82-1.5238.96-149.19-1.3738.84-152.690.1645.45-15.79-7.1463.59-143.3311.177.2-40.77150.0050.0320.0-50.000-177.7821.37-27.4637.43
23Q1 (14)-0.41-1266.67-264.016.44-31.16-10.8-20.07-4370.21-1354.35-20.21-827.06-365.92-20.28-2533.77-374.05-2.49-1456.25-258.6-2.24-1500.0-268.420.11-38.89-38.89-19.61-1590.52-335.4110.42-11.92-44.49100.000700.0-0.00-100.0-100.029.4655.8786.81
22Q4 (13)-0.03-117.6591.1823.8812.3832.30.47108.83103.88-2.18-128.282.94-0.77-112.8394.7-0.16-115.5392.49-0.14-115.5692.270.1820.050.0-1.16-113.9390.2211.833.5-33.46-0.00100.0-100.0100.00-33.33018.90-16.89-20.52
22Q3 (12)0.17-66.0141.4621.25-12.9862.71-5.32-196.3879.47.73-48.26133.956.00-56.58126.751.03-66.67141.20.90-65.38141.470.15-21.0550.08.33-49.45142.5711.43-39.4-35.97-66.67-286.67-155.56150.00133.331600.022.7446.24-22.44
22Q2 (11)0.50100.0204.1724.4232.535.895.52500.0128.2814.9496.58154.5113.8286.76154.373.0996.82208.82.6095.49201.170.195.5690.016.4897.84164.5518.860.4859.9735.71314.29-48.4164.29-51.79108.9315.55-1.4-44.44
22Q1 (10)0.25173.53189.2918.432.114.12-1.3888.691.167.60159.47153.337.40150.89151.571.57173.71196.321.33173.48189.860.1850.080.08.33170.24168.0618.775.5797.37-16.67-116.67-114.58133.3301033.3315.77-33.68-40.62
21Q4 (9)-0.3417.07-3500.018.0538.21-23.94-12.1153.12-40266.67-12.7843.87-441.53-14.5435.18-2950.98-2.1314.8-2762.5-1.8116.59-2685.710.1220.0-14.29-11.8639.4017.78-0.3968.53100.00-16.670-0.00100.0-100.023.78-18.8932.26
21Q3 (8)-0.4114.58-173.3313.06-27.32-29.25-25.83-32.33-189.9-22.7716.93-303.01-22.4311.76-296.99-2.5011.97-197.62-2.1715.56-185.530.100.0-23.08-19.5723.35-527.2417.8551.445.0120.0073.33-20.0-10.00-132.580.029.324.7536.12
21Q2 (7)-0.48-71.43-14.2917.971.5310.99-19.52-25.0511.71-27.41-92.35-17.39-25.42-77.14-8.87-2.84-74.23-19.83-2.57-73.65-19.530.100.011.11-25.53-108.58-27.6511.7923.9734.1369.23-39.42-30.7730.77315.38207.6927.995.38-4.08
21Q1 (6)-0.28-2900.0-55.5617.70-25.41-11.81-15.61-51933.33-29.98-14.25-503.81-185.57-14.35-2913.73-69.42-1.63-2137.5-58.25-1.48-2214.29-60.870.10-28.57-9.09-12.240-561.629.51-9.86-14.56114.290-51.02-14.29-114.2989.2926.5647.7210.34
20Q4 (5)0.01106.67-80.023.7328.555.8-0.0399.6695.89-2.3658.239.230.51109.03-66.880.08109.52-70.370.07109.21-70.830.147.69-6.670.00100.0100.010.55-14.3-19.89-0.00-100.0-100.0100.00300.0100.017.98-16.538.77
20Q3 (4)-0.1564.290.018.4614.020.0-8.9159.70.0-5.6575.80.0-5.6575.80.0-0.8464.560.0-0.7664.650.00.1344.440.0-3.1284.40.012.3140.050.0150.0050.00.0-50.00-600.00.021.54-26.180.0
20Q2 (3)-0.42-133.330.016.19-19.330.0-22.11-84.10.0-23.35-367.940.0-23.35-175.680.0-2.37-130.10.0-2.15-133.70.00.09-18.180.0-20.00-981.080.08.79-21.020.0100.00-57.140.010.00107.50.029.1821.230.0
20Q1 (2)-0.18-460.00.020.07-10.520.0-12.01-1545.210.0-4.99-91.920.0-8.47-650.00.0-1.03-481.480.0-0.92-483.330.00.11-26.670.0-1.85-44.530.011.13-15.490.0233.33366.670.0-133.33-366.670.024.0745.610.0
19Q4 (1)0.050.00.022.430.00.0-0.730.00.0-2.600.00.01.540.00.00.270.00.00.240.00.00.150.00.0-1.280.00.013.170.00.050.000.00.050.000.00.016.530.00.0
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)-0.98018.84-14.71-13.2301.2539.17-10.240-10.240-6.050-5.3700.52-26.76-8.75013.3512.85128.000-28.0000.00025.9544.01
2022 (9)0.90022.0931.410.1400.90-40.127.1006.7405.5304.8200.7169.058.08011.83-33.460.00095.831720.830.21018.02-32.53
2021 (8)-1.51016.81-15.82-17.8301.50-13.0-18.850-18.850-9.090-7.9700.42-10.64-16.50017.7868.5394.74-22.495.2600.00026.7118.45
2020 (7)-0.73019.97-3.94-9.5401.72-1.38-7.930-7.890-4.150-3.7100.47-12.96-5.60010.55-19.89122.22-23.61-22.2200.216.4722.5524.79
2019 (6)-0.26020.79-5.59-5.5801.7535.66-3.580-2.230-1.390-1.1900.54-21.74-1.40013.17-32.98160.00412.0-60.0000.20-45.118.0730.75
2018 (5)0.520.022.02-12.831.37-75.541.29-9.364.1215.083.3810.462.816.442.365.360.69-5.485.938.8119.65-6.3431.25-80.4768.7500.36013.8211.72
2017 (4)0.52-80.3825.26-11.655.60-57.931.4254.983.58-74.113.06-73.672.64-80.182.24-78.830.73-19.785.45-64.2220.9839.96160.0066.67-60.0000.00012.3718.94
2016 (3)2.65-24.528.59-7.9213.31-14.620.926.2413.83-20.3311.62-14.513.32-28.8810.58-19.480.91-5.2115.23-19.1214.99-61.1996.007.734.00-59.60.00010.408.79
2015 (2)3.51-29.831.05-6.8715.59-21.420.8625.2217.36-22.8813.59-27.6718.73-43.6213.14-40.030.96-17.2418.83-20.2838.62-20.1489.111.519.90-18.940.0009.5610.01
2014 (1)5.0023.4633.34019.8400.69-5.5222.51018.79033.22021.9101.166.4223.6224.4548.36-17.9687.79-1.2412.219.920.0008.69-10.41

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