玩股撇步(動畫小學堂)  

  • 收帳和銷貨天數如果一直上升, 就要當心了!
  • 存貨在不同時期有不同的意義, 像是滯銷, 或是因為報價回升而屯貨, 或是積極備料, 這都需要去看存貨細項和判斷當時的情況來分辨
  • 當存貨增加時, 還需要注意增加的是不是商品或製成品. 如果是在製品或原物料, 反而有可能是供給不順沒法變製成品又或者是需求旺盛(短期營收趨勢向上)
  • 處在景氣下行的公司當存貨細項-原料和在製品的回升可能代表訂單開始回溫了
  • 當記憶體模組廠, 像是威剛、十銓存貨增加時, 有可能是在增加低價庫存, 代表著景氣循環來到相對低點, 也許就是建立部位的好時機
  • 當存貨提列減損損失,虧損認列在該年度,但是存貨價格回升後,之後年度也會直接回沖增加EPS,這種情況很容易在記憶體模組廠見到
  • 存貨一直增加,但是存貨銷售比沒什麼改變,可以推測是公司因為銷售良好而準備的存貨
  • 當淨營業週期(日)接近於0, 代表公司好像在做無本生意
平均收帳天數和平均銷貨天數-近20季
存貨銷售比
近3年股價
應收帳款周轉率 QoQ YoY存貨周轉率 QoQ YoY平均收帳天數 QoQ YoY平圴銷貨天數 QoQ YoY應付帳款付現天數 QoQ YoY淨營業週期(日) QoQ YoY
24Q4 (20)2.18-2.241.871.700.0-3.4141.782.48-1.9253.52-0.283.7422.665.59-0.4472.64-0.471.69
24Q3 (19)2.23-5.116.71.70-4.49-2.8640.775.27-6.1953.675.133.0721.461.82.6872.986.23-2.21
24Q2 (18)2.358.816.341.783.4917.1138.73-8.03-14.0151.05-3.77-14.621.08-6.19-7.7968.70-5.49-16.17
24Q1 (17)2.160.9316.131.72-2.2710.2642.11-1.15-13.9753.052.83-9.2922.47-1.27-11.4372.691.76-11.42
23Q4 (16)2.142.398.081.760.578.6442.60-1.98-7.2751.59-0.92-8.0422.768.9-5.471.43-4.29-8.39
23Q3 (15)2.093.47-3.691.7515.135.4243.46-3.513.5352.07-12.9-5.1420.90-8.57-9.874.63-8.931.26
23Q2 (14)2.028.6-12.931.52-2.56-10.5945.04-7.9914.6959.782.2211.4522.86-9.89-2.4381.95-0.1317.95
23Q1 (13)1.86-6.06-7.01.56-3.7-12.3648.956.557.758.484.2414.1125.375.4411.0382.065.2511.1
22Q4 (12)1.98-8.76-3.881.62-2.41-20.9845.949.433.8756.102.226.6424.063.84-2.5177.975.7922.11
22Q3 (11)2.17-6.476.371.66-2.35-31.1241.986.9-5.9654.892.3345.4423.17-1.11-8.1673.706.0728.96
22Q2 (10)2.3216.011.541.70-4.49-30.0439.27-13.6-10.0353.644.6643.523.432.54-7.169.48-5.9324.49
22Q1 (9)2.00-2.91-2.441.78-13.17-29.3745.452.762.351.2515.6941.9722.85-7.41-13.9473.8615.6836.8
21Q4 (8)2.060.98-13.452.05-14.94-21.4644.23-0.9215.5144.3017.3826.8324.68-2.181.7763.8511.7230.39
21Q3 (7)2.04-1.92-8.112.41-0.820.044.642.278.9337.740.960.025.230.0419.857.152.4-0.88
21Q2 (6)2.081.4613.042.43-3.5720.943.65-1.76-11.6237.383.55-17.3725.22-5.0123.255.813.37-24.74
21Q1 (5)2.05-13.8719.882.52-3.4534.7644.4316.04-16.4536.103.35-25.7526.559.4814.6453.9910.25-31.34
20Q4 (4)2.387.210.02.618.30.038.29-6.560.034.93-7.450.024.2515.150.048.97-15.070.0
20Q3 (3)2.2220.650.02.4119.90.040.98-17.030.037.74-16.580.021.062.880.057.66-22.250.0
20Q2 (2)1.847.60.02.017.490.049.39-7.130.045.24-6.950.020.47-11.610.074.16-5.680.0
20Q1 (1)1.710.00.01.870.00.053.180.00.048.620.00.023.160.00.078.630.00.0
平均收帳天數和平均銷貨天數-近10年
應收帳款周轉率 YoY存貨周轉率 YoY平均收帳天數 YoY平圴銷貨天數 YoY應付帳款付現天數 YoY淨營業週期(日) YoY
2024 (10)8.9715.447.036.3540.70-13.3551.93-5.9923.39-6.0669.24-10.43
2023 (9)7.771.36.61-11.8746.97-1.3455.2413.524.9010.0877.304.94
2022 (8)7.67-9.877.50-17.447.6110.9548.6721.0722.62-3.573.6623.42
2021 (7)8.5123.159.085.3442.91-18.7540.20-5.0523.44-17.2359.68-10.7
2020 (6)6.91-3.228.622.3852.813.2942.34-2.3528.3223.4566.83-6.6
2019 (5)7.14-2.598.423.5751.132.6743.36-3.4722.94-5.8771.551.71
2018 (4)7.33-4.688.137.8249.804.9344.92-7.1924.37-9.7470.352.16
2017 (3)7.691.327.5411.2147.46-1.3748.40-10.127.001.8968.86-8.75
2016 (2)7.599.056.7812.8148.12-8.2653.84-11.2926.505.9675.46-14.38
2015 (1)6.96-7.086.01-8.852.457.6160.699.5925.01-6.0188.1313.72

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