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)-0.2834.88-187.547.10436.6753.77-26.9787.88-19.49-37.0273.2-254.96-29.5773.29-237.66-1.6433.87-193.18-1.4835.09-196.10.05150.0-28.57-33.3374.36-226.6312.5046.8911.4177.78-50.51177.7822.22138.89-88.890.00-100.0-100.0
24Q2 (19)-0.43-577.78-816.67-13.99-1572.63-137.16-222.44-39.11-699.28-138.14-677.27-1316.02-110.71-679.33-2045.69-2.48-586.27-900.0-2.28-585.11-944.440.020.0-60.0-130.00-490.04-945.258.51-6.07-49.73157.14124.81167.35-57.14-107.79-117.14171.5219.4191.01
24Q1 (18)0.09110.98129.030.95-97.35-95.99-159.90-100.63-549.2123.93113.23194.719.11113.38189.590.51111.02131.10.47111.27133.10.02-33.33-71.4333.33119.23240.759.06-14.77-28.44-633.33-1525.0-803.7733.331220.00143.6536.61256.36
23Q4 (17)-0.82-356.25-164.5235.8417.0136.79-79.70-253.12-1679.02-180.85-857.01-1002.74-142.85-765.04-1019.51-4.63-363.07-189.37-4.17-370.78-206.620.03-57.14-72.73-173.33-758.55-1112.9510.63-5.26-40.1544.44144.4448.1555.56-72.22-20.63105.15111.4238.1
23Q3 (16)0.32433.33-13.5130.63-18.6539.48-22.5718.9-169.3323.89110.325.8721.48277.541.51.76467.74-8.331.54470.374.050.0740.0-30.026.3271.1327.5811.22-33.73-32.65-100.0057.14-140.0200.00-40.041.1849.74-15.6177.71
23Q2 (15)0.06119.35-84.6237.6558.9922.4-27.83-12.99-589.9611.36144.95-35.565.69126.68-54.520.31118.9-83.510.27119.01-80.850.05-28.57-54.5515.38164.95-22.1316.9333.73-60.28-233.33-359.26-753.33333.330366.6758.9446.22161.26
23Q1 (14)-0.310.0-129.5223.68-9.62-14.94-24.63-449.78-300.08-25.27-54.09-246.75-21.33-67.16-255.81-1.64-2.5-143.39-1.42-4.41-149.820.07-36.36-66.67-23.68-65.71-229.0512.66-28.72-49.790.00200.027.89-0.00-100.0-100.040.3129.61191.05
22Q4 (13)-0.31-183.78-116.6726.2019.31-3.96-4.4846.54-124.14-16.40-186.41-190.16-12.76-184.06-188.37-1.60-183.33-123.02-1.36-191.89-128.750.1110.0-66.67-14.29-169.27-176.4217.766.6-55.9930.00172.0-70.6170.00-50.593460.031.1011.11296.18
22Q3 (12)0.37-5.13-88.0321.96-28.61-23.91-8.38-247.54-139.5818.987.66-10.4715.1821.34-9.541.922.13-84.391.484.96-81.860.10-9.09-79.5920.634.46-3.9116.66-60.91-69.35-41.67-216.67-141.67141.6798.33027.9924.07276.72
22Q2 (11)0.39-62.86-84.430.7610.497.225.68-53.86-70.5517.632.38-1.9512.51-8.62-13.061.88-50.26-79.451.41-50.53-77.070.11-47.62-74.4219.757.637.9242.6269.33-9.6735.71-49.25-66.7171.43141.071082.1422.5662.89148.73
22Q1 (10)1.05-43.55-60.3827.842.05-9.9612.31-33.67-38.0217.22-5.33-17.2513.69-5.19-17.633.78-45.61-65.482.85-39.75-60.250.21-36.36-51.1618.35-1.87-14.6925.17-37.62-50.4270.37-31.07-25.7929.631522.22472.8413.8576.4331.4
21Q4 (9)1.86-39.81-42.2427.28-5.47-15.0718.56-12.33-20.9918.19-14.2-15.4714.44-13.95-17.536.95-43.5-53.884.73-42.03-51.190.33-32.65-40.018.70-12.9-15.4640.35-25.76-26.21102.082.08-7.32-2.08076.047.855.65-2.61
21Q3 (8)3.0923.640.4528.860.59-11.8221.179.75-1.6721.2017.914.0716.7816.612.5712.3034.434.248.1632.687.940.4913.956.5221.4717.321.3254.3515.2-3.86100.00-6.78-5.880.00100.0100.07.43-18.08-29.84
21Q2 (7)2.50-5.66303.2328.69-7.21-12.819.29-2.8727.1617.98-13.654.0714.39-13.4253.589.15-16.44169.126.15-14.23151.020.430.065.3818.30-14.9241.5347.18-7.07-15.45107.2713.12-16.57-7.27-240.6174.559.07-13.950
21Q1 (6)2.65-17.71372.2230.92-3.74-9.4819.86-15.45566.4420.81-3.3227.216.62-5.08234.4110.95-27.341028.877.17-26.01819.230.43-21.82168.7521.51-2.76129.3250.77-7.15113.5994.83-13.9189.665.17159.48-89.6610.5430.77-61.76
20Q4 (5)3.2246.362583.3332.12-1.865.3523.499.1157.5721.525.65562.1517.517.03578.6815.0727.712292.069.6928.171838.00.5519.57189.4722.124.39342.454.68-3.27107.36110.143.67-52.8-8.70-39.1394.788.06-23.89-51.09
20Q3 (4)2.20254.840.032.73-0.520.021.5341.920.020.3774.550.016.3674.60.011.80247.060.07.56208.570.00.4676.920.021.1963.880.056.531.310.0106.25-17.360.0-6.2578.120.010.5900.0
20Q2 (3)0.62244.440.032.90-3.690.015.17409.060.011.6783.490.09.3788.530.03.40250.520.02.45214.10.00.2662.50.012.9337.850.055.80134.750.0128.57157.140.0-28.57-157.140.00.00-100.00.0
20Q1 (2)0.1850.00.034.1612.040.02.98-67.320.06.3695.690.04.9792.640.00.9753.970.00.7856.00.00.16-15.790.09.3887.60.023.77-9.860.050.00-78.570.050.00130.00.027.5667.230.0
19Q4 (1)0.120.00.030.490.00.09.120.00.03.250.00.02.580.00.00.630.00.00.500.00.00.190.00.05.000.00.026.370.00.0233.330.00.0-166.670.00.016.480.00.0
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)-0.76030.6012.54-31.7003.42148.89-20.950-16.860-4.160-3.6300.22-58.49-17.09010.63-40.15148.00297.75-52.0000.40055.81163.5
2022 (9)1.29-86.3227.19-6.084.40-77.831.37181.3611.84-39.819.14-41.66.29-84.234.85-82.210.53-69.5413.19-34.3817.76-55.9937.21-63.162.7900.00021.18145.42
2021 (8)9.4351.6128.95-11.2219.850.40.49-40.0319.677.615.655.9639.8933.4627.2729.431.7421.6820.105.0740.35-26.21100.83-6.77-0.8300.0008.63-27.42
2020 (7)6.22263.7432.61-3.1219.7794.590.81-53.4618.2866.4814.7769.5829.89235.8421.07197.181.4376.5419.1349.154.68107.36108.1517.42-8.1500.00011.89-41.8
2019 (6)1.71-51.8333.662.4710.16-28.751.75643.4410.98-37.118.71-39.978.90-54.667.09-54.550.81-24.312.83-27.3126.374.5692.1111.737.89-58.270.00020.4322.78
2018 (5)3.55032.85-25.5414.26238.720.24-60.9417.46014.51019.63015.6001.07122.9217.65025.22-8.2982.43018.92-88.050.00016.64-49.82
2017 (4)-0.70044.12-17.014.21-78.670.6046.99-7.230-7.230-4.400-3.4500.48-32.39-6.63027.501.93-58.330158.3300.00033.1621.91
2016 (3)2.53-17.5953.162.6119.742.550.412.0519.63-12.5615.61-15.0714.63-18.3111.06-16.020.71-1.3920.08-12.2826.98-28.64100.0016.670.0000.00027.200.15
2015 (2)3.0742.1351.8110.4219.2542.380.40-6.4322.4534.3518.3833.1917.9145.3713.1737.330.724.3522.8933.3137.8110.9185.714.4614.29-20.410.00027.160.59
2014 (1)2.16-48.6946.92013.5200.43016.71013.80012.3209.5900.69017.17-26.1834.0945.8182.05-11.317.95139.320.00027.0034.26

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