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)2.2712.9416.410.8811.39-10.240.14-11.19-14.16103.00-10.5411.42152.25-4.35-9.42-9.11-878.6368.47
24Q3 (19)2.01-0.5-5.190.79-1.25-18.5645.200.275.14115.140.6622.49159.18-0.510.861.17325.0117.73
24Q2 (18)2.0214.12-15.130.803.9-3.6145.08-12.2318.1114.39-3.313.96159.98-18.036.55-0.5297.9673.33
24Q1 (17)1.77-9.23-19.910.77-21.43-7.2351.369.8424.69118.3027.978.51195.1716.1221.41-25.5111.7-142.03
23Q4 (16)1.95-8.02-20.730.981.035.3846.768.7726.3892.44-1.66-5.23168.0817.0623.01-28.89-337.73-1275.71
23Q3 (15)2.12-10.92-13.470.9716.8711.4942.9912.6315.8894.00-14.57-9.62143.59-4.3723.64-6.60-238.46-126.43
23Q2 (14)2.387.69-0.420.830.0-2.3538.17-7.330.05110.030.932.39150.15-6.5917.78-1.9581.5-110.76
23Q1 (13)2.21-10.168.330.83-10.75-4.641.1911.32-7.83109.0211.774.6160.7517.64-8.5-10.54-401.960.63
22Q4 (12)2.460.419.820.936.9-10.5837.00-0.27-8.8297.54-6.2110.95136.6417.65-16.36-2.10-108.4193.98
22Q3 (11)2.452.5113.950.872.35-9.3737.10-2.75-12.5104.00-3.2210.15116.14-8.9-13.4524.9737.73853.05
22Q2 (10)2.3917.1618.910.85-2.3-21.338.15-14.63-15.63107.463.128.04127.48-27.44-8.4318.13167.73280.04
22Q1 (9)2.04-8.9311.480.87-16.35-23.0144.6910.13-10.3104.2318.5629.27175.697.55-4.38-26.7723.2349.77
21Q4 (8)2.244.198.741.048.33-9.5740.58-4.29-8.2787.91-6.8911.17163.3621.74-8.56-34.87-1430.9236.98
21Q3 (7)2.156.9711.980.96-11.11-9.4342.40-6.24-10.5194.4212.510.19134.19-3.61-27.132.62126.02105.13
21Q2 (6)2.019.8411.671.08-4.42-0.9245.22-9.23-10.6783.934.090.23139.21-24.24-15.81-10.0781.167.51
21Q1 (5)1.83-11.17-3.681.13-1.74-5.0449.8212.614.1480.631.965.29183.742.85-1.33-53.293.6913.76
20Q4 (4)2.067.290.01.158.490.044.24-6.630.079.08-7.710.0178.65-2.990.0-55.33-8.30.0
20Q3 (3)1.926.670.01.06-2.750.047.38-6.40.085.692.330.0184.1511.370.0-51.09-64.860.0
20Q2 (2)1.80-5.260.01.09-8.40.050.625.810.083.749.350.0165.35-11.20.0-30.9949.850.0
20Q1 (1)1.900.00.01.190.00.047.840.00.076.580.00.0186.210.00.0-61.790.00.0
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)6.85-6.043.22-9.353.316.43113.189.98198.6510.32-32.160
2023 (9)7.29-2.153.551.7250.092.2102.91-1.46180.06-2.07-27.060
2022 (8)7.4510.533.49-9.1149.01-9.53104.449.78183.87-10.32-30.420
2021 (7)6.74-3.163.84-13.3254.173.3295.1415.36205.02-8.23-55.710
2020 (6)6.96-6.454.43-19.4552.436.8582.4724.37223.41-10.15-88.520
2019 (5)7.4416.435.50-4.8449.07-14.0366.315.04248.65-14.54-133.270
2018 (4)6.39-6.585.78-5.0957.086.9763.135.34290.960.46-170.760
2017 (3)6.84-5.136.09-4.0953.365.4859.934.3289.63-0.57-176.350
2016 (2)7.210.566.350.1650.59-0.5757.46-0.19291.290.84-183.230
2015 (1)7.172.436.340.050.88-2.4257.57-0.03288.85-1.46-180.400

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