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)2.72-3.55-43.452.8416.87-28.133.423.4776.7332.02-14.4139.146.84-6.79-3.5818.61-4.42380.27
24Q3 (19)2.82-15.82-16.322.43-14.74-48.6332.3018.7519.6337.4117.1394.2450.251.66-6.2819.47100.51364.54
24Q2 (18)3.35-19.66-4.832.85-17.87-60.5327.2024.665.0631.9421.77153.4949.431.6714.089.711803.51300.62
24Q1 (17)4.17-13.3112.43.47-12.15-44.7521.8215.39-11.1226.2313.9480.948.620.087.47-0.5791.4290.81
23Q4 (16)4.8142.7359.273.95-16.49-26.5818.91-29.96-37.3223.0219.5236.0548.58-9.410.18-6.649.78-321.33
23Q3 (15)3.37-4.2614.634.73-34.49-5.5927.004.29-12.6519.2652.865.9453.6223.7517.61-7.36-52.07-310.29
23Q2 (14)3.52-5.122.627.2214.9758.6825.895.46-2.312.60-13.1-37.043.33-4.22-23.88-4.8421.9453.55
23Q1 (13)3.7122.8512.426.2816.7336.2324.55-18.63-11.0514.50-14.3-26.5145.242.61-18.69-6.20-306.6725.3
22Q4 (12)3.022.72-11.955.387.3938.6630.17-2.3913.8916.92-6.93-27.8844.09-3.29-19.783.00-14.29159.88
22Q3 (11)2.94-14.29-10.095.0110.1143.9730.9116.6411.0718.18-9.1-30.545.59-19.91-26.253.50133.59144.7
22Q2 (10)3.433.9422.54.55-1.323.3126.50-3.99-18.5120.001.37-18.8356.922.3-23.72-10.42-25.5440.32
22Q1 (9)3.30-3.7914.584.6118.814.7727.604.19-12.619.73-15.9-4.6455.641.24-28.7-8.30-65.6767.8
21Q4 (8)3.434.89-5.253.8811.49-21.4626.49-4.815.3723.46-10.3227.3654.96-11.1-23.3-5.0136.0282.17
21Q3 (7)3.2716.7939.153.48-5.69-12.3427.83-14.42-28.2526.166.1714.2461.82-17.15-29.86-7.8355.1570.39
21Q2 (6)2.80-2.7825.563.69-16.14-14.9832.522.98-20.3924.6419.0917.574.62-4.38-5.84-17.4632.27-0.23
21Q1 (5)2.88-20.4420.04.40-10.93-10.7531.5825.62-16.8920.6912.3212.1478.048.9-4.39-25.788.26-2.42
20Q4 (4)3.6254.040.04.9424.430.025.14-35.190.018.42-19.560.071.66-18.70.0-28.10-6.280.0
20Q3 (3)2.355.380.03.97-8.530.038.79-5.040.022.909.20.088.1411.220.0-26.44-51.780.0
20Q2 (2)2.23-7.080.04.34-11.970.040.857.50.020.9713.660.079.25-2.90.0-17.4230.790.0
20Q1 (1)2.400.00.04.930.00.038.000.00.018.450.00.081.620.00.0-25.170.00.0
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)13.32-25.4213.55-25.2227.4034.1226.9433.7647.861.446.470
2023 (9)17.8617.2718.12-11.1820.43-14.7720.1412.5847.18-4.2-6.610
2022 (8)15.2318.3420.4015.0623.97-15.4517.89-13.0749.25-25.59-7.390
2021 (7)12.8716.0517.73-18.0328.35-13.8820.5821.9966.19-17.7-17.260
2020 (6)11.0935.0821.63-32.0532.92-25.9716.8747.0880.4323.55-30.640
2019 (5)8.2122.1731.839.9144.47-18.1511.47-8.9765.1028.2-9.160
2018 (4)6.7238.2728.9655.1254.33-27.7212.60-35.5550.78-8.1416.16-59.03
2017 (3)4.86-2.818.671.7475.172.9719.55-1.7155.288.1439.44-5.56
2016 (2)5.00-9.4218.3519.9373.0010.3619.89-16.6451.12-4.6441.7614.76
2015 (1)5.52-19.8815.30-13.0766.1524.9123.8615.0453.6111.9936.3940.83

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