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
24Q2 (20)0.5746.15-13.6416.1840.5725.727.6636.0612.989.8450.9223.1510.1482.0522.613.6846.03-16.552.3155.03-15.380.22-15.38-33.3313.2945.2521.4857.34-20.24-23.577.67-9.56-8.9922.3358.1743.9112.3935.7143.24
24Q1 (19)0.39-4.88-17.0211.51-8.36-17.965.63-13.52-25.736.526.36-16.625.576.1-15.352.52-3.08-16.281.49-3.25-25.50.26-10.34-13.339.153.74-19.671.89-2.2343.1885.88-18.89-11.4314.12340.0365.889.131.33-0.22
23Q4 (18)0.41-2.3817.1412.565.63-33.36.5118.36-30.976.13-5.11-25.245.25-8.85-16.132.60-8.4517.121.54-6.15.480.293.5726.098.82-5.06-23.773.533.243.5105.8824.74-8.08-5.88-138.9161.279.012.04-33.55
23Q3 (17)0.42-36.36-38.2411.89-7.61-29.315.50-18.88-43.366.46-19.15-49.575.76-30.35-47.112.84-35.6-37.441.64-39.93-41.430.28-15.157.699.29-15.08-47.1671.25-4.9431.3884.88-0.5412.1115.12-2.58-37.768.832.08-24.27
23Q2 (16)0.6640.4315.7912.87-8.27-5.786.78-10.554.637.992.17-20.898.2725.680.244.4146.5120.822.7336.525.230.3310.026.9210.94-3.87-26.8774.9549.273.5485.34-11.9932.015.52412.07-57.148.65-5.46-21.36
23Q1 (15)0.4734.2911.914.03-25.4911.267.58-19.6230.467.82-4.631.696.585.113.33.0135.5912.732.0036.9925.00.3030.4320.011.38-1.56-15.0750.21-2.01-22.6996.97-15.8227.753.03119.95-87.429.15-32.52-23.94
22Q4 (14)0.35-48.5329.6318.8311.9514.339.43-2.8816.718.20-35.9914.856.26-42.5249.42.22-51.111.561.46-47.8626.960.23-11.54-14.8111.56-34.24-15.1251.24-5.51-28.58115.1952.141.23-15.19-162.55-20.1413.5616.322.71
22Q3 (13)0.6819.347.8316.8223.137.759.7149.8543.6412.8126.8365.7210.8932.054.254.5424.3831.592.8028.4459.090.260.04.017.5817.5148.8654.23-25.09-32.8675.7117.1-13.624.29-32.9396.3111.666.07.47
22Q2 (12)0.5735.7196.5513.668.338.166.4811.5337.8710.1031.34126.978.2529.51129.173.6536.779.82.1836.25124.740.264.0-3.714.9611.6446.9572.3911.45-35.7164.66-14.82-39.0936.2150.26688.3611.00-8.5699.64
22Q1 (11)0.4255.5682.6112.61-23.4440.425.81-28.09215.767.697.7127.516.3752.03139.472.6734.1771.151.6039.13116.220.25-7.41-7.4113.40-1.6243.1664.95-9.46-41.8175.90-33.338.7224.10290.58-46.7912.038.87-5.05
21Q4 (10)0.27-41.3200.016.475.5168.48.0819.53163.197.14-7.631152.634.19-40.65544.621.99-42.32362.791.15-34.66447.620.278.0-12.913.6215.33171.8671.74-11.18-39.33113.7929.86-78.53-12.64-202.297.0611.051.84-27.16
21Q3 (9)0.4658.6253.3315.6123.5944.546.7643.8346.647.7373.7163.777.0696.11107.043.4569.9539.111.7681.4441.940.25-7.41-30.5611.8116.0127.480.77-28.27-27.3587.63-17.45-10.3312.37301.03444.3310.8596.91-1.9
21Q2 (8)0.2926.09-25.6412.6340.650.484.70155.43-18.44.4531.66-30.143.6035.34-28.292.0330.13-30.240.9731.08-37.820.270.0-12.910.188.76-13.44112.600.8819.89106.1594.0117.26-6.15-113.59-164.965.51-56.510
21Q1 (7)0.23155.56-36.118.98-8.18-28.621.84-40.07-62.33.38492.98-56.052.66309.23-57.641.56262.79-38.820.74252.38-44.780.27-12.928.579.3686.83-39.73111.62-5.633.6654.72-89.68-13.145.28110.5322.2612.67-16.480
20Q4 (6)0.09-70.0-74.299.78-9.44-23.173.07-33.41-51.650.57-87.92-90.730.65-80.94-87.850.43-82.66-85.570.21-83.06-86.090.31-13.8910.715.01-45.95-56.28118.246.3516.21530.00442.33412.33-430.00-19020.0-12370.015.1737.165.42
20Q3 (5)0.30-23.0825.010.80-14.0810.884.61-19.9782.214.72-25.923.243.41-32.07-0.872.48-14.7837.021.24-20.5130.530.3616.1333.339.27-21.170.32111.1818.3817.2997.737.9546.592.27-76.01-93.1811.060-27.85
20Q2 (4)0.398.330.012.57-0.080.05.7618.030.06.37-17.170.05.02-20.060.02.9114.120.01.5616.420.00.3147.620.011.76-24.280.093.9212.470.090.5343.780.09.47-74.420.00.0000.0
20Q1 (3)0.362.860.012.58-1.180.04.88-23.150.07.6925.040.06.2817.380.02.55-14.430.01.34-11.260.00.21-25.00.015.5335.510.083.51-17.930.062.96-39.140.037.041174.070.00.00-100.00.0
19Q4 (2)0.3545.830.012.7330.70.06.35150.990.06.1560.570.05.3555.520.02.9864.640.01.5158.950.00.283.70.011.4624.030.0101.757.340.0103.4555.170.0-3.45-110.340.014.39-6.130.0
19Q3 (1)0.240.00.09.740.00.02.530.00.03.830.00.03.440.00.01.810.00.00.950.00.00.270.00.09.240.00.094.790.00.066.670.00.033.330.00.015.330.00.0
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)1.96-2.9712.82-16.546.59-15.512.94-36.967.10-27.256.49-18.8712.79-2.447.91-3.31.2118.6310.11-30.2373.5343.592.7516.077.25-63.90.06-15.578.90-25.83
2022 (9)2.0259.0615.3617.077.8052.644.67-15.069.7677.788.0088.2413.1144.78.1874.411.02-6.4214.4930.7851.24-28.5879.90-14.1220.10189.00.074.9412.0020.12
2021 (8)1.2710.4313.1216.625.1113.565.495.685.4922.824.2520.749.069.824.6917.841.09-2.6811.0813.7671.74-39.3393.05-7.636.9500.070.429.99-17.78
2020 (7)1.1525.011.2512.54.5064.235.20-5.64.475.183.520.08.2518.883.9820.611.1221.749.74-0.81118.2416.21100.7356.61-0.7300.0779.8412.15-23.49
2019 (6)0.92124.3910.00-5.122.7434.985.5150.564.2577.083.52117.286.94132.893.30111.540.92-2.139.8259.93101.75-18.6764.32-24.1435.21131.390.048.6715.88-26.11
2018 (5)0.41-40.5810.54-54.532.03-76.83.6623.892.40-67.081.62-71.122.98-50.991.56-63.120.9425.336.14-40.9125.10145.8284.78-29.5315.2200.04021.49-1.24
2017 (4)0.69-1.4323.1813.748.7572.922.95-24.537.2920.95.6110.876.080.54.235.220.75-2.610.390.8750.8931.91120.3143.9-20.3100.00021.761.63
2016 (3)0.70141.3820.3838.645.06820.03.914.466.03116.135.06164.926.05127.444.02128.410.77-1.2810.3043.6538.58-45.183.61337.3316.39-79.730.00021.410.52
2015 (2)0.29-50.014.70-19.50.55-84.973.75-5.382.79-39.081.91-47.812.66-50.01.76-45.850.78-1.277.17-23.7270.27-20.0219.12-76.1680.88308.090.00021.302.75
2014 (1)0.58152.1718.2603.6603.96-26.084.5803.6605.3203.2500.790.09.4011.3787.8612.8680.1885.6819.82-65.120.00020.73-1.19

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