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)-0.80-31.15-50.9460.11-0.48-10.9-105.78-92.64-125.3-102.51-108.44-147.97-102.51-108.35-147.91-10.27-22.7-66.18-7.05-34.03-84.070.07-36.36-22.22-81.33-144.01-219.3235.77-40.86-42.86102.60-8.4-9.71-2.6078.3580.950.00-100.0-100.0
24Q2 (19)-0.6120.7818.6760.40-5.3915.38-54.9135.3636.11-49.1836.536.87-49.2036.4836.87-8.3715.2-1.09-5.2618.071.50.1137.557.14-33.3341.8542.2360.488.645.2112.002.261.97-12.00-26.0-22.078.90-25.06-21.55
24Q1 (18)-0.77-670.0-24.1963.84-20.59-0.81-84.95-621.75-28.87-77.45-1059.43-28.08-77.45-1057.7-26.28-9.87-683.33-53.26-6.42-733.77-50.70.08-33.3314.29-57.32-1017.12-39.9455.6710.769.85109.52-34.29-0.43-9.5287.764.76105.2863.158.54
23Q4 (17)-0.1081.1376.7480.3919.1732.29-11.7774.9363.9-6.6883.8477.09-6.6983.8277.06-1.2679.6169.71-0.7779.972.10.1233.3320.06.25124.54139.8150.26-19.713.48166.6746.6749.57-77.78-470.37-580.5664.53-17.840.34
23Q3 (16)-0.5329.331.8567.4628.8610.32-46.9545.37-8.53-41.3446.93-1.0-41.3546.95-1.03-6.1825.36-21.89-3.8328.28-13.310.0928.5712.5-25.4755.855.1462.608.8929.05113.643.466.38-13.64-38.64-100.078.54-21.9113.1
23Q2 (15)-0.75-20.97-92.3152.35-18.66-21.4-85.94-30.37-185.51-77.90-28.82-165.96-77.94-27.08-165.92-8.28-28.57-125.61-5.34-25.35-93.480.070.0-30.0-57.69-40.84-266.5257.4913.4422.35109.84-0.159.84-9.841.64-214.75100.583.6956.69
23Q1 (14)-0.62-44.1931.1164.365.9150.37-65.92-102.2151.98-60.47-107.3755.73-61.33-110.3255.1-6.44-54.8123.15-4.26-54.3541.80.07-30.040.0-40.96-160.8963.1450.684.34250.0110.00-1.2810.0-10.0012.5097.0050.83-23.47
22Q4 (13)-0.4320.37-38.7160.77-0.62-12.6-32.6024.64-51.63-29.1628.76-25.47-29.1628.76-25.37-4.1617.95-49.64-2.7618.34-15.480.1025.0-9.09-15.7041.53-43.948.570.12277.98111.434.3216.07-11.43-67.62-242.8664.31-7.399.52
22Q3 (12)-0.54-38.4628.061.15-8.1827.24-43.26-43.7258.62-40.93-39.7460.63-40.93-39.6560.63-5.07-38.1520.28-3.38-22.4639.210.08-20.060.0-26.85-70.5866.2948.513.23249.24106.826.826.82-6.82-118.18069.448.18-30.34
22Q2 (11)-0.3956.6741.7966.6055.6154.35-30.1078.0762.92-29.2978.5663.71-29.3178.5463.68-3.6756.2131.02-2.7662.340.90.10100.066.67-15.7485.8373.8946.99224.52267.68100.000.00.0-3.120064.19-49.36-24.96
22Q1 (10)-0.90-190.32-210.3442.80-38.44-35.58-137.27-538.47-362.19-136.59-487.74-378.93-136.59-487.23-378.93-8.38-201.44-277.48-7.32-206.28-281.250.05-54.55-28.57-111.11-918.42-748.1714.4812.6814.56100.004.17-4.0-0.00-100.0100.0126.75115.8592.16
21Q4 (9)-0.3158.67-150.8269.5344.67-1.33-21.5079.44-313.93-23.2477.64-167.76-23.2677.62-167.81-2.7856.29-162.75-2.3957.01-161.280.11120.00.0-10.9186.3-125.712.85-7.49-0.3996.00-4.0229.148.000-88.7158.72-41.142.25
21Q3 (8)-0.75-11.94-167.8648.0611.38-27.65-104.55-28.8-488.02-103.95-28.79-338.79-103.95-28.79-338.79-6.36-19.55-197.2-5.56-19.06-212.360.05-16.67-37.5-79.66-32.13-672.6513.898.69-19.38100.000.035.29-0.000-100.099.6916.5466.51
21Q2 (7)-0.67-131.0339.6443.15-35.0567.51-81.17-173.388.85-80.71-182.9988.66-80.71-182.9988.66-5.32-139.6449.29-4.67-143.2344.930.06-14.29500.0-60.29-360.2389.8112.781.11-17.39100.00-4.0-2.35-0.00100.0100.085.5429.68-83.65
21Q1 (6)-0.29-147.5453.2366.44-5.7221.11-29.70-395.5266.12-28.52-183.1567.25-28.52-183.1567.25-2.22-150.1174.77-1.92-149.2369.380.07-36.360.0-13.10-130.8680.3512.64-2.02-66.56104.17257.144.17-4.17-105.88065.9659.79-37.43
20Q4 (5)0.61317.86168.5470.476.0858.7210.05156.52104.6334.30244.79115.4134.30244.79115.414.43307.01142.113.90319.1157.180.1137.5266.6742.45511.74123.9912.90-25.13-63.6629.17-60.54-70.3170.83171.533937.541.28-31.05-73.29
20Q3 (4)-0.2874.770.066.43157.880.0-17.7897.560.0-23.6996.670.0-23.6996.670.0-2.1479.60.0-1.7879.010.00.08700.00.0-10.3198.260.017.2311.380.073.91-27.830.026.091182.610.059.87-88.560.0
20Q2 (3)-1.11-79.030.025.76-53.040.0-727.97-730.540.0-711.65-717.240.0-711.86-717.480.0-10.49-19.20.0-8.48-35.250.00.01-85.710.0-591.67-787.460.015.47-59.070.0102.412.410.0-2.4100.0523.15396.250.0
20Q1 (2)-0.6230.340.054.8623.560.0-87.6559.580.0-87.0860.870.0-87.0860.880.0-8.8016.350.0-6.278.060.00.07133.330.0-66.6762.320.037.806.480.0100.001.790.0-0.00-100.00.0105.42-31.780.0
19Q4 (1)-0.890.00.044.400.00.0-216.860.00.0-222.560.00.0-222.600.00.0-10.520.00.0-6.820.00.00.030.00.0-176.920.00.035.500.00.098.250.00.01.750.00.0154.530.00.0
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)-2.01068.0113.35-47.25014.6810.13-41.360-41.550-22.230-14.7300.362.86-25.06050.263.48114.729.97-14.1100.60-26.7782.2310.61
2022 (9)-2.26060.001.39-49.35013.33-9.22-47.320-47.330-21.490-16.3600.3525.0-32.05048.57277.98104.324.32-4.3200.83-35.3374.340.69
2021 (8)-2.02059.18-8.56-51.55014.6912.6-51.620-51.630-16.600-14.5000.28-9.68-34.69012.85-0.39100.00-23.13-0.0001.28-7.9273.83-4.35
2020 (7)-1.33064.7227.93-44.65013.04-51.09-34.600-34.610-12.800-10.2800.3182.35-18.73012.90-63.66130.1032.46-29.1301.39-54.7277.19-57.01
2019 (6)-4.36050.5911.58-262.74026.67-24.1-267.490-267.520-58.140-44.5700.1788.89-229.52035.5088.8398.21-1.791.7903.06-41.75179.57-55.56
2018 (5)-5.06045.3436.07-725.88035.14-5.14-726.970-727.040-75.660-62.9400.0928.57-678.38018.80-13.8100.00-0.38-0.0005.250404.05-16.4
2017 (4)-5.66033.32-19.94-986.13037.04-44.44-984.590-984.680-74.830-64.6100.07133.33-925.93021.8182.21100.38-1.16-0.0000.000483.29-32.45
2016 (3)-3.15041.6255.07-1654.46066.67155.56-1632.930-1558.100-52.510-46.4000.03-57.14-1508.33011.97-20.47101.56-89.43-1.5600.000715.4885.56
2015 (2)-0.80026.8449.53-952.17026.09-2.17-97.480-91.450-7.260-6.3900.0716.67-56.52015.0521.86960.87348.01-865.2200.000385.57-2.58
2014 (1)-3.05017.950-1071.91026.67260.0-501.050-468.640-29.250-25.9200.06-50.0-460.00012.35-10.64214.47440.06-114.4700.000395.78145.48

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