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)1.55-9.88-17.111.23-4.65-2.3858.8311.0420.7574.114.752.7631.941.6513.22101.019.429.05
24Q3 (19)1.72-4.440.581.290.09.3252.984.89-0.1970.750.27-8.3131.420.93.8392.312.65-7.67
24Q2 (18)1.8011.8-0.551.2913.168.450.51-10.820.270.56-11.6-7.6931.14-6.095.7789.93-12.94-7.67
24Q1 (17)1.61-13.9-6.41.14-9.5214.056.6416.267.0979.8210.68-12.2833.1617.55-3.32103.3011.52-5.72
23Q4 (16)1.879.368.091.266.789.5748.72-8.21-7.4172.12-6.53-8.7228.21-6.77-3.1992.63-7.35-9.63
23Q3 (15)1.71-5.52-11.861.18-0.84-10.6153.085.312.8977.160.9412.2830.262.7929.8299.982.658.17
23Q2 (14)1.815.23-7.181.1919.05.3150.41-4.698.1576.44-15.99-4.6829.44-14.1713.5897.40-11.11-3.44
23Q1 (13)1.72-0.58-12.691.00-13.047.5352.890.5114.6590.9915.16-6.8634.3017.719.13109.576.9-2.5
22Q4 (12)1.73-10.82-29.671.15-12.8827.7852.6211.9142.4179.0114.97-22.0329.1425.01-11.56102.5010.89-2.69
22Q3 (11)1.94-0.51-3.481.3216.8167.0947.020.883.8768.72-14.3-40.1823.31-10.07-44.4292.43-8.37-21.81
22Q2 (10)1.95-1.02-1.521.1321.517.6246.611.041.6180.19-17.91-7.2425.92-17.53-26.13100.87-10.243.74
22Q1 (9)1.97-19.9220.860.933.33-8.8246.1324.84-17.497.69-3.598.9731.43-4.61-25.1112.386.698.55
21Q4 (8)2.4622.3918.270.9013.92-30.7736.95-18.38-15.56101.33-11.7944.232.95-21.44-8.88105.33-10.935.28
21Q3 (7)2.011.52-1.950.79-24.76-30.745.27-1.311.73114.8832.8944.2941.9419.5220.24118.2121.5832.46
21Q2 (6)1.9821.4713.141.052.9412.945.87-17.87-11.9986.45-3.57-11.8535.09-16.37-8.6997.23-6.09-13.0
21Q1 (5)1.63-21.63-19.71.02-21.54-1.9255.8527.6324.5389.6527.582.0441.9616.0416.85103.5332.976.94
20Q4 (4)2.081.460.01.3014.040.043.76-1.660.070.27-11.740.036.163.670.077.86-12.750.0
20Q3 (3)2.0517.140.01.1422.580.044.50-14.620.079.62-18.810.034.88-9.240.089.24-20.150.0
20Q2 (2)1.75-13.790.00.93-10.580.052.1216.210.098.0711.620.038.437.020.0111.7615.440.0
20Q1 (1)2.030.00.01.040.00.044.850.00.087.860.00.035.910.00.096.810.00.0
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)6.54-9.675.139.6255.8210.6771.14-8.8428.17-2.898.79-0.72
2023 (9)7.24-20.964.685.4150.4426.5778.04-4.9728.986.5499.515.0
2022 (8)9.1627.44.4413.2739.85-21.5482.12-11.7727.20-26.4994.77-11.32
2021 (7)7.193.93.92-8.250.79-3.7593.088.7937.00-9.11106.879.49
2020 (6)6.92-15.924.27-9.5352.7718.9385.5610.5740.7133.9197.616.85
2019 (5)8.237.724.722.8344.37-7.1477.38-2.7630.40-5.9491.35-3.89
2018 (4)7.642.554.59-0.2247.78-2.5379.580.332.32-9.2495.052.48
2017 (3)7.45-6.524.60-9.2749.027.0379.3410.335.619.9892.758.66
2016 (2)7.97-8.915.07-7.9945.809.8171.938.6632.388.485.369.38
2015 (1)8.755.175.5113.6141.71-4.966.20-11.9429.87-14.4178.04-7.26

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