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)2.5976.1947.1645.834.548.2919.7546.346.7320.7952.6462.9317.0359.9157.13.5667.1464.062.5071.2364.470.147.697.6928.9829.1433.7344.55-7.824.1994.81-4.41-10.194.94507.41188.5414.56-27.81-25.71
24Q3 (19)1.47-39.51-47.1243.840.837.3713.50-6.25-14.8813.62-13.08-30.1910.65-31.73-31.332.13-34.46-41.01.46-33.94-36.240.13-7.14-7.1422.44-6.23-17.6848.33-16.83-21.599.197.8922.140.81-89.92-95.6720.174.6216.39
24Q2 (18)2.43118.9235.043.483.5510.514.4089.4714.3815.6735.9113.0615.6066.6718.03.25128.8721.722.21112.522.10.1440.07.6923.937.076.3658.1126.74-2.9691.9439.11.28.06-76.22-11.9419.28-20.533.49
24Q1 (17)1.11-36.93-20.1441.99-0.7811.037.60-43.54-25.8511.53-9.64-1.969.36-13.65-0.531.42-34.56-17.921.04-31.58-15.450.10-23.08-16.6722.353.147.0445.857.231.3766.09-37.4-24.2733.91707.92166.4224.2623.7820.64
23Q4 (16)1.76-36.69-30.7142.323.65-7.4613.46-15.13-5.8112.76-34.6-23.4110.84-30.11-35.42.17-39.89-30.891.52-33.62-28.640.13-7.148.3321.67-20.51-15.8842.76-30.55-14.31105.5830.0123.04-5.58-129.68-139.319.6013.125.08
23Q3 (15)2.7854.44-5.7640.833.76-7.115.8625.97-14.8219.5140.76-18.7115.5117.32-16.163.6135.21-9.072.2926.52-10.890.147.690.027.2621.16-14.3861.572.8217.8881.21-10.614.4718.79105.23-16.3617.33-6.98-8.36
23Q2 (14)1.8029.5340.039.354.052.7412.5922.8314.1413.8617.862.8213.2240.49565.492.6754.34560.341.8147.15724.140.138.338.3322.507.76-4.759.8832.39-2.6790.844.0911.339.16-28.05-49.1218.63-7.3638.82
23Q1 (13)1.39-45.285.337.82-17.3-6.2510.25-28.27-1.2511.76-29.41-17.189.41-43.92-13.111.73-44.9-10.361.23-42.250.820.120.09.0920.88-18.94-8.6645.23-9.36-35.187.271.7119.2412.73-10.33-52.5320.1128.332.08
22Q4 (12)2.54-13.947.6745.734.0512.6114.29-23.25-1.4516.66-30.587.7616.78-9.348.763.14-20.9137.122.13-17.1247.920.12-14.290.025.76-19.111.949.90-4.46-13.8585.8110.39-8.6414.19-36.83133.4115.67-17.1332.01
22Q3 (11)2.95493.33-26.6243.9514.75-2.6118.6268.81-23.2224.0078.04-21.6718.50751.41-15.13.97784.48-32.372.57986.21-28.410.1416.67-12.531.8434.86-11.952.23-15.1-23.2877.73-4.74-1.7522.4724.837.6218.9140.9178.23
22Q2 (10)-0.75-156.82-117.938.30-5.06-10.4511.036.26-42.3413.48-5.07-38.19-2.84-126.22-113.35-0.58-130.05-109.52-0.29-123.77-107.490.129.09-33.3323.613.28-11.3161.52-11.723.2981.6011.49-7.1118.00-32.8645.7113.42-31.88-1.61
22Q1 (9)1.32-23.26-59.3840.34-0.66-10.0610.38-28.41-52.7814.20-8.15-41.7810.83-3.99-45.081.93-15.72-60.931.22-15.28-61.150.11-8.33-31.2522.86-0.7-22.5169.6920.3216.0773.19-22.07-18.7726.81340.85170.9419.7065.9619.32
21Q4 (8)1.72-57.21-54.9740.61-10.02-1.2414.50-40.21-39.9815.46-49.54-42.6111.28-48.23-48.382.29-60.99-62.821.44-59.89-62.790.12-25.0-33.3323.02-36.3-26.8757.92-14.920.4393.9218.74.96.08-70.87-40.911.8711.88-24.06
21Q3 (7)4.02-4.06-4.9645.135.52-0.724.2526.76-1.8230.6440.498.1221.792.4-6.325.87-3.61-21.943.59-7.24-19.330.16-11.11-15.7936.1435.7611.0368.0814.38.3779.12-9.93-9.320.8869.0261.4810.61-22.21-29.74
21Q2 (6)4.1928.92-6.8942.77-4.64-2.5119.13-12.97-26.2221.81-10.58-16.7621.287.91-10.666.0923.28-21.923.8723.25-19.710.1812.5-10.026.62-9.76-11.6559.56-0.8-24.2187.84-2.51-11.2412.3524.841090.013.64-17.380
21Q1 (5)3.25-14.923.8344.859.071.6821.98-9.02-4.7224.39-9.47-3.2919.72-9.75-5.424.94-19.81-5.93.14-18.86-11.050.16-11.11-5.8829.50-6.29-0.4760.044.1123.3190.110.64-1.459.89-3.8315.4416.515.632.61
20Q4 (4)3.82-9.690.041.12-9.530.024.16-2.190.026.94-4.940.021.85-6.060.06.16-18.090.03.87-13.030.00.18-5.260.031.48-3.290.057.67-8.20.089.532.630.010.29-20.420.015.633.510.0
20Q3 (3)4.23-6.00.045.453.60.024.70-4.740.028.348.170.023.26-2.350.07.52-3.590.04.45-7.680.00.19-5.00.032.558.030.062.82-20.070.087.23-11.850.012.931145.550.015.1000.0
20Q2 (2)4.5043.770.043.87-0.540.025.9312.40.026.203.890.023.8214.240.07.8048.570.04.8236.540.00.2017.650.030.131.650.078.5961.410.098.968.240.01.04-87.890.00.00-100.00.0
20Q1 (1)3.130.00.044.110.00.023.070.00.025.220.00.020.850.00.05.250.00.03.530.00.00.170.00.029.640.00.048.690.00.091.430.00.08.570.00.016.090.00.0
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)7.60-1.6843.899.3714.197.837.613.2215.676.8913.458.6410.061.217.262.980.52-5.4524.595.8144.554.1990.650.969.44-7.614.69-4.3219.272.17
2023 (9)7.7327.5640.13-4.8813.16-4.717.37-1.4414.66-15.512.3812.149.9419.337.0525.890.5512.2423.24-11.542.76-14.3189.7912.8910.21-50.14.90-0.118.8611.53
2022 (8)6.06-53.9942.19-2.8113.81-31.57.4842.3117.35-25.9211.04-41.378.33-55.645.60-53.490.49-22.2226.26-9.7349.90-13.8579.53-7.6420.4746.844.90-6.7216.9129.48
2021 (7)13.17-16.0643.41-0.5520.16-17.855.2635.0923.42-12.3818.83-16.4218.78-25.012.04-26.360.63-12.529.09-6.1357.920.4386.11-6.2113.9470.195.262759.6113.06-10.85
2020 (6)15.69-7.8143.653.9824.546.63.8945.9726.736.3222.535.7725.04-20.2816.35-15.460.72-20.8830.9910.657.6714.7991.810.278.19-2.980.18-35.7714.65-9.9
2019 (5)17.02-4.3341.98-3.3423.02-8.472.6734.0825.14-7.7421.30-4.5731.41-20.1819.34-19.250.91-14.9528.02-4.8950.24-35.8491.56-0.88.449.580.2917.7916.262.85
2018 (4)17.79116.1643.436.8925.1516.441.99-24.3427.2524.622.3226.139.3569.2523.9544.81.0715.0529.4619.0378.3188.292.30-6.557.70523.220.24015.81-14.95
2017 (3)8.2319.2840.63-2.2421.607.842.63-10.221.877.117.707.2123.2514.0316.5413.060.935.6824.754.7441.613.3598.760.671.24-34.60.00018.59-6.35
2016 (2)6.9071.6441.5617.2420.0354.082.934.1820.4245.7516.5141.3520.3967.5414.6368.550.8820.5523.6336.2740.26-0.6498.115.81.89-73.990.00019.852.16
2015 (1)4.0230.5235.45013.0002.81-0.3214.01011.68012.1708.6800.735.817.342.5440.52-13.6492.7330.887.27-75.070.00019.43-8.48

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