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)1.90-16.67-12.043.67-6.62-4.1847.8819.8813.8924.817.034.4219.01-0.16-7.6353.6821.8118.71
24Q3 (19)2.28-5.793.643.93-7.535.9339.946.39-3.523.188.32-5.519.043.31-4.3244.078.79-4.24
24Q2 (18)2.4222.8412.044.2520.0651.2537.54-18.59-10.7321.40-16.86-33.8918.43-2.8-13.9240.51-23.39-23.57
24Q1 (17)1.97-8.8-9.633.54-7.5715.3146.119.6810.4225.748.33-13.2718.96-7.87-9.7652.8816.944.86
23Q4 (16)2.16-1.821.413.833.2321.5942.041.57-1.5723.76-3.14-17.6720.583.427.9245.22-1.74-13.87
23Q3 (15)2.201.85-5.983.7132.0320.8541.39-1.576.4824.53-24.22-17.119.90-7.05-9.8346.02-13.17-0.82
23Q2 (14)2.16-0.92-8.472.81-8.47-14.5942.050.699.0532.379.0617.221.411.9-3.0853.005.120.18
23Q1 (13)2.182.3512.373.07-2.54-5.5441.76-2.22-11.0529.682.846.021.0110.17-7.5750.43-3.94-3.41
22Q4 (12)2.13-8.97-1.393.152.61-23.5442.719.881.428.86-2.4730.8319.07-13.59-11.6352.5013.1523.24
22Q3 (11)2.34-0.855.413.07-6.69-31.4738.870.8-5.0329.597.1345.5522.07-0.09-11.2246.405.2227.44
22Q2 (10)2.3621.65-5.223.291.23-33.9438.56-17.875.527.62-1.3651.0922.09-2.82-2.6944.10-15.5337.21
22Q1 (9)1.94-10.19-7.623.25-21.12-33.2646.9511.478.428.0026.9349.9722.735.33-10.1652.2122.5642.3
21Q4 (8)2.16-2.7-13.64.12-8.04-23.4242.122.9115.9422.068.5130.3821.58-13.19-3.3242.6017.037.73
21Q3 (7)2.22-10.84-12.254.48-10.04-23.9440.9311.9813.7320.3311.2131.6724.869.5250.7636.4113.294.21
21Q2 (6)2.4918.5715.814.982.268.7336.55-15.61-13.4518.28-2.09-8.022.70-10.2834.1632.14-12.4-28.86
21Q1 (5)2.10-16.038.164.87-9.4845.3743.3119.21-27.8318.6710.34-31.2625.3013.3518.6736.6918.62-44.28
20Q4 (4)2.50-1.190.05.38-8.660.036.330.940.016.929.590.022.3235.350.030.93-11.480.0
20Q3 (3)2.5317.670.05.8928.60.035.99-14.780.015.44-22.290.016.49-2.540.034.94-22.660.0
20Q2 (2)2.1541.450.04.5836.720.042.23-29.630.019.87-26.840.016.92-20.640.045.18-31.390.0
20Q1 (1)1.520.00.03.350.00.060.010.00.027.160.00.021.320.00.065.850.00.0
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)8.76-0.5715.8510.1541.680.6323.03-9.1917.07-0.8747.64-3.89
2023 (9)8.810.1114.39-5.8241.42-0.1725.366.1517.22-8.1149.576.28
2022 (8)8.80-0.6815.28-15.3541.490.7523.8918.1518.74-19.2246.6422.06
2021 (7)8.8627.1218.058.4741.18-21.3520.22-7.823.20-15.6138.21-18.35
2020 (6)6.971.916.64-3.4852.36-1.8921.933.5927.4954.0146.80-17.46
2019 (5)6.84-7.6917.241.2353.378.3721.17-1.2117.85-14.7256.7013.97
2018 (4)7.41-4.5117.0323.5849.254.7621.43-19.120.93-20.4849.755.45
2017 (3)7.7612.1413.7816.9847.01-10.8126.49-14.4926.322.5747.18-18.7
2016 (2)6.9223.3511.787.4852.71-19.0430.98-6.9725.6619.0258.03-24.48
2015 (1)5.61-1.5810.9618.3665.111.7233.30-15.5321.56-20.3576.840.62

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