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)1.13-1.74-4.2423.51-7.55-4.6610.33-30.3-27.5615.6917.9732.7411.0912.4725.882.89-5.56-9.692.26-1.74-3.420.20-13.04-23.0818.7018.1332.4428.54-2.16-22.6865.79-40.99-45.5434.21397.83264.4320.7610.3116.89
24Q3 (19)1.15-7.26-46.2625.436.05-3.2714.8228.09-16.4113.30-15.77-33.939.86-17.49-34.873.06-10.79-49.672.30-6.12-48.550.2315.0-20.6915.83-14.98-28.8929.17-26.25-22.79111.4952.0726.57-11.49-143.04-196.3818.82-13.0313.78
24Q2 (18)1.24-4.624.223.989.923.111.5710.7226.1715.79-3.541.2811.95-7.6511.583.43-4.19-3.652.45-5.41-4.670.200.0-16.6718.62-3.721.839.55-6.0611.6673.3114.9424.9726.69-26.31-34.9621.640.4615.23
24Q1 (17)1.3010.17154.921.82-11.5217.0610.45-26.7253.4516.3738.49157.812.9446.88135.73.5811.87138.672.5910.68137.610.20-23.080.019.3436.97101.8842.1014.06-2.1663.78-47.2-40.4336.22274.08611.5821.5421.28-1.24
23Q4 (16)1.18-44.8671.0124.66-6.20.3314.26-19.5720.2411.82-41.2847.578.81-41.8141.413.20-47.3760.02.34-47.6560.270.26-10.3413.0414.12-36.5732.0936.91-2.3-1.1120.8137.15-18.35-20.81-274.5756.6117.767.38-4.72
23Q3 (15)2.1479.836.4726.2934.9632.1817.7393.3565.0820.1329.129.0515.1441.368.456.0870.791.844.4773.937.710.2920.83-3.3322.2621.718.4337.786.66-6.9288.0850.1551.4311.92-70.96-71.5116.54-11.93-2.19
23Q2 (14)1.19133.33-20.1319.484.51-0.059.1734.65-15.8715.59145.510.4510.7195.08-6.053.56137.33-21.592.57135.78-18.930.2420.0-14.2918.2990.923.0435.42-17.69-26.9158.66-45.22-16.3541.03679.637.3718.78-13.894.22
23Q1 (13)0.51-26.09-19.0518.64-24.1736.766.81-42.5867.736.35-20.72-5.515.49-11.881.11.50-25.0-21.871.09-25.34-20.440.20-13.04-20.09.58-10.383.943.0315.38.42107.08-27.6378.07-7.0885.24-117.7621.8117.0112.31
22Q4 (12)0.69-65.67-10.3924.5823.5846.3111.8610.4362.028.01-56.6116.596.23-55.376.862.00-66.5-18.371.46-64.82-13.610.23-23.33-20.6910.69-47.9317.9937.32-8.06-15.83147.95154.3639.16-47.95-214.63-658.5318.6410.235.85
22Q3 (11)2.0134.971.7919.892.0524.1610.74-1.4766.5118.4618.9477.513.9622.4649.155.9731.563.564.1530.9166.00.307.1411.1120.5315.6657.4440.59-16.24-16.0358.17-17.06-6.3341.8340.0510.3716.91-6.16-9.23
22Q2 (10)1.49136.51106.9419.4942.9913.9810.90168.4732.615.52130.95130.9511.40109.94116.324.54136.46105.433.17131.39105.840.2812.0-3.4517.7592.5295.9248.4622.17.1670.1316.62-42.6529.87-25.07234.0318.02-7.210.95
22Q1 (9)0.63-18.18-28.4113.63-18.87-32.194.06-44.54-58.196.72-2.18-32.675.43-6.86-29.111.92-21.63-30.181.37-18.93-26.740.25-13.794.179.221.77-28.2539.69-10.49-10.3960.14-43.44-38.1539.86730.591341.7819.4210.28-6.72
21Q4 (8)0.77-34.19-6.116.804.87-27.47.3213.49-39.156.87-33.94-19.565.83-37.71-10.172.45-32.88-8.581.69-32.4-6.110.297.417.419.06-30.52-18.8244.34-8.27-13.48106.3271.22-24.47-6.32-116.6884.517.61-5.48-8.14
21Q3 (7)1.1762.5-19.8616.02-6.32-35.896.45-21.53-59.5610.4054.76-25.189.3677.61-12.033.6565.16-27.02.5062.34-24.240.27-6.9-12.913.0443.93-19.2148.346.9-1.5962.10-49.22-45.9137.90270.08356.218.634.375.19
21Q2 (6)0.72-18.18-44.6217.10-14.93-33.078.22-15.35-47.386.72-32.67-55.935.27-31.2-51.922.21-19.64-49.771.54-17.65-48.490.2920.837.419.06-29.49-49.2445.222.1-18.33122.2925.7619.49-22.29-906.0-852.7117.85-14.27-2.67
21Q1 (5)0.887.3210.020.10-13.14-6.699.71-19.296.249.9816.86-8.867.6618.03-10.932.752.613.01.873.890.540.24-11.1114.2912.8515.14-10.0844.29-13.587.7497.24-30.9315.962.76106.78-83.4120.828.61-8.76
20Q4 (4)0.82-43.840.023.14-7.40.012.03-24.580.08.54-38.560.06.49-39.00.02.68-46.40.01.80-45.450.00.27-12.90.011.16-30.860.051.254.340.0140.7822.630.0-40.78-175.620.019.178.240.0
20Q3 (3)1.4612.310.024.99-2.190.015.952.110.013.90-8.850.010.64-2.920.05.0013.640.03.3010.370.00.3114.810.016.14-9.580.049.12-11.290.0114.7912.170.0-14.79-532.470.017.71-3.440.0
20Q2 (2)1.3062.50.025.5518.620.015.6270.90.015.2539.270.010.9627.440.04.4064.790.02.9960.750.00.2728.570.017.8524.910.055.3734.690.0102.3422.040.0-2.34-114.040.018.34-19.630.0
20Q1 (1)0.800.00.021.540.00.09.140.00.010.950.00.08.600.00.02.670.00.01.860.00.00.210.00.014.290.00.041.110.00.083.850.00.016.670.00.022.820.00.0
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)4.83-3.9823.764.3911.90-5.852.5010.6615.218.111.408.8812.57-9.049.56-5.720.83-13.5418.048.6728.54-22.6878.25-12.8821.75113.650.23212.6620.6211.88
2023 (9)5.034.1422.7617.3812.6433.192.2612.1614.0711.2310.479.0613.82-3.1510.14-0.590.96-9.4316.6010.7436.91-1.189.8219.7310.18-59.250.07-73.2518.431.49
2022 (8)4.8336.4419.3911.249.4920.432.012.712.6550.69.6037.9314.2727.8710.2034.031.06-2.7514.9937.6537.32-15.8375.02-20.1724.98306.160.27-7.8718.16-2.58
2021 (7)3.54-18.9917.43-27.257.88-41.631.96-6.738.40-31.326.96-24.5111.16-22.457.61-21.141.094.8110.89-26.8644.34-13.4893.97-14.826.1500.29-11.418.64-3.17
2020 (6)4.37-0.2323.961.1413.502.822.1011.3412.23-7.989.22-5.0514.39-6.749.65-7.741.04-2.814.89-4.6751.254.27110.3211.67-10.3200.33-4.0919.253.44
2019 (5)4.3819.0223.6914.1113.1331.961.898.9213.2913.119.7113.315.4313.6210.4612.591.07-0.9315.6213.1149.152.3398.7916.611.21-92.060.35-8.8818.616.53
2018 (4)3.6826.0320.761.229.95-1.491.73-7.4311.7527.38.5720.5313.5824.029.2922.561.081.8913.8121.6748.036.1984.72-22.5215.2800.38017.475.69
2017 (3)2.92-32.8720.51-18.5810.10-23.371.87-2.869.23-33.217.11-27.6710.95-31.227.58-31.461.06-5.3611.35-29.8945.231.5109.3414.67-9.4700.00016.53-4.06
2016 (2)4.353.0825.1911.0713.1823.641.932.0213.822.529.83-3.9115.92-4.2711.06-3.661.120.016.192.2744.562.4495.3520.564.65-77.760.00017.233.55
2015 (1)4.2256.322.68010.6601.89-4.4613.48010.23016.63011.4801.123.715.8331.9243.50-6.8379.096.3520.91-18.420.00016.642.09

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