財報指標解說
從巴菲特價值投資的角度,白話解釋每一個關鍵財報指標的意義、計算公式、解讀方式。
營收(Revenue)
Revenue / Sales / Turnover
毛利率(Gross Margin %)
Gross Margin %
營業利益(Operating Income)
Operating Income / Operating Profit
營業利益率(Operating Margin %)
Operating Margin %
淨利(Net Income)
Net Income / Bottom Line / Earnings
每股盈餘(EPS)
Earnings Per Share
自由現金流(Free Cash Flow)
Free Cash Flow / FCF
營運現金流(Operating Cash Flow)
Operating Cash Flow / OCF / CFO
資本支出(Capital Expenditure)
Capital Expenditure / CapEx
股東權益報酬率(ROE)
Return on Equity
流通在外股數(Shares Outstanding)
Shares Outstanding
每股股利(Dividend per Share)
Dividend per Share / DPS
銷貨成本(Cost of Revenue / COGS)
Cost of Revenue / Cost of Goods Sold
毛利(Gross Profit)
Gross Profit
營業費用(Operating Expenses)
Operating Expenses / OpEx
銷管費用(SG&A)
Selling, General & Administrative Expenses
研發費用(R&D)
Research & Development Expenses
稅息折舊攤銷前獲利(EBITDA)
Earnings Before Interest, Taxes, Depreciation & Amortization
利息費用(Interest Expense)
Interest Expense
稅前淨利(Pretax Income)
Pretax Income / Income Before Tax
所得稅費用(Income Tax)
Income Tax Expense
稀釋每股盈餘(Diluted EPS)
Diluted Earnings Per Share
現金及約當現金(Cash & Equivalents)
Cash and Cash Equivalents
現金循環週期(Cash Conversion Cycle, CCC)
Cash Conversion Cycle
應收帳款(Receivables)
Accounts Receivable / Receivables
存貨(Inventory)
Inventory
不動產廠房及設備(PP&E)
Property, Plant & Equipment
商譽(Goodwill)
Goodwill
資產總額(Total Assets)
Total Assets
應付帳款(Accounts Payable)
Accounts Payable
長期負債(Long-term Debt)
Long-term Debt
負債總額(Total Liabilities)
Total Liabilities
股東權益(Stockholders' Equity / Book Value)
Stockholders' Equity / Book Value
資產報酬率(ROA)
Return on Assets
投入資本報酬率(ROIC)
Return on Invested Capital
負債權益比(D/E)
Debt-to-Equity Ratio
流動比率(Current Ratio)
Current Ratio
本益比(P/E)
Price-to-Earnings Ratio
股價淨值比(P/B)
Price-to-Book Ratio
殖利率(Dividend Yield)
Dividend Yield
配息率(Payout Ratio)
Payout Ratio
經濟護城河(Economic Moat)
Economic Moat
盈餘可預測性(Business Predictability)
Business Predictability
Piotroski F-Score(財務健康)
Piotroski F-Score
Altman Z-Score(破產風險)
Altman Z-Score
Beneish M-Score(造假警訊)
Beneish M-Score
PEG 比率(Peter Lynch 估值)
PEG Ratio (Price/Earnings to Growth)
盈餘能力價值(EPV)
Earnings Power Value (EPV)
DCF 折現現金流估值
DCF (Discounted Cash Flow)
Net-Net 葛拉漢淨流動資產法
Net-Net Working Capital (NNWC)
WACC 加權平均資金成本
Weighted Average Cost of Capital (WACC)
每股淨值(Book Value per Share)
Book Value per Share (BVPS)
安全邊際(Margin of Safety)
Margin of Safety
擁有者盈餘(Owner Earnings)
Owner Earnings
TTM 過去 12 個月(Trailing Twelve Months)
TTM (Trailing Twelve Months) / LTM (Last Twelve Months)
年增率 (YoY) / 季增率 (QoQ)
Year-over-Year (YoY) / Quarter-over-Quarter (QoQ)
企業價值(Enterprise Value)
Enterprise Value (EV)
EV/EBITDA 企業倍數
EV/EBITDA Multiple