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
24Q3 (20)7.7118.62-16.0152.3219.0436.2911.80-15.7119.071.74-15.94-26.5821.62-12.75-17.2-8.087.1341.58
24Q2 (19)6.50-17.72-38.9143.956.2923.6314.0021.6363.742.07-5.91-19.1424.78-3.09-13.84-8.7026.5850.71
24Q1 (18)7.90-5.05-22.8541.3512.0632.4511.515.2129.622.20-10.93-24.425.57-2.66-17.62-11.857.9338.41
23Q4 (17)8.32-9.37-19.336.90-3.8815.110.9410.3924.042.474.22-13.0326.270.61-22.3-12.876.9441.9
23Q3 (16)9.18-13.72-28.5638.397.990.959.9115.9139.972.37-7.42-0.8426.11-9.21-13.63-13.8321.6433.35
23Q2 (15)10.643.916.9335.5513.876.638.55-3.72-6.562.56-12.03-6.2328.76-7.35-9.25-17.658.2610.9
23Q1 (14)10.24-0.682.0931.22-2.62-12.78.880.68-2.092.912.4614.5731.04-8.192.04-19.2413.14-2.34
22Q4 (13)10.31-19.77-4.6332.06-15.7-4.558.8224.584.752.8418.834.833.8111.846.86-22.15-6.75-8.0
22Q3 (12)12.8529.150.1638.0314.07-9.997.08-22.62-0.282.39-12.4511.1630.23-4.6144.16-20.75-4.75-77.05
22Q2 (11)9.95-0.80.9133.34-6.7760.069.150.88-0.872.737.48-37.5331.694.1727.99-19.81-5.37-77.51
22Q1 (10)10.03-7.2212.5735.766.46144.69.077.72-11.172.54-6.27-59.1630.42-3.868.72-18.808.34-62.91
21Q4 (9)10.81-15.7436.1533.59-20.5157.08.4218.59-26.592.7126.05-61.0631.6450.8816.02-20.51-75.0-132.01
21Q3 (8)12.8330.1238.1142.25102.83216.487.10-23.08-27.552.15-50.8-68.4820.97-15.31-4.25-11.72-5.02-121.55
21Q2 (7)9.8610.6630.7720.8342.4856.629.23-9.6-23.534.37-29.74-36.1124.76-11.5125.56-11.163.29-1277.78
21Q1 (6)8.9112.228.9214.6211.86-17.0310.21-10.99-8.186.22-10.6320.5427.982.643.93-11.54-30.54-266.35
20Q4 (5)7.94-14.53-1.8513.07-2.1-30.6311.4717.042.056.962.0544.127.2724.5228.45-8.84-67.11-71.32
20Q3 (4)9.2923.210.013.350.380.09.80-18.810.06.82-0.290.021.9011.050.0-5.29-553.090.0
20Q2 (3)7.54-7.820.013.30-24.520.012.078.540.06.8432.560.019.721.440.0-0.8174.290.0
20Q1 (2)8.181.110.017.62-6.480.011.12-1.070.05.166.830.019.44-8.430.0-3.1538.950.0
19Q4 (1)8.090.00.018.840.00.011.240.00.04.830.00.021.230.00.0-5.160.00.0
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
2023 (10)32.973.94131.0912.2311.07-3.822.78-10.931.72-13.99-17.870
2022 (9)31.7222.05116.8071.5911.51-18.023.12-41.7936.886.59-22.250
2021 (8)25.990.2368.0724.8314.04-0.285.36-19.8834.6018.7-15.190
2020 (7)25.93-1.0354.53-14.1314.081.086.6916.3529.1522.32-8.380
2019 (6)26.2030.0963.5027.5613.93-23.125.75-21.5623.83-3.68-4.140
2018 (5)20.14-1.4749.78-5.7618.121.467.336.0824.74-0.60.720
2017 (4)20.44-17.5852.82-16.317.8621.336.9119.5524.89-3.19-0.120
2016 (3)24.80-10.0863.11-12.7514.7211.265.7814.4625.71-3.85-5.210
2015 (2)27.5811.7172.33-23.4613.23-10.555.0530.8326.740.11-8.460
2014 (1)24.6917.9194.504.1314.79-15.153.86-3.9826.71-3.08-8.070

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