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)9.53161.81143.730.30-11.76-50.829.54-61.82-59.06305.2213.2104.1938.78-44.98-79.93275.9923.131451.57
24Q3 (19)3.643.710.30.34-5.56024.99-3.51-9.39269.647.15070.4822.9878.25224.141.781974.08
24Q2 (18)3.510.0194.960.3616.13025.90-0.12-66.03251.64-13.13057.31-66.9649.91220.2354.92479.25
24Q1 (17)3.51-10.23932.350.31-49.18025.9311.29-90.18289.6793.790173.44-10.23282.19142.16796.18-34.99
23Q4 (16)3.9118.48158.940.610023.30-15.52-61.37149.4800193.20388.62326.87-20.42-70.74-235.68
23Q3 (15)3.30177.31220.390.000-100.027.58-63.82-68.720.000-100.039.543.43-22.13-11.96-131.46-127.09
23Q2 (14)1.19250.0-41.380.000-100.076.24-71.1369.880.000-100.038.23-15.76-64.7238.02-82.61199.58
23Q1 (13)0.34-77.48-95.010.000-100.0264.06337.841875.020.000-100.045.380.27-11.57218.681353.02965.72
22Q4 (12)1.5146.6-0.660.00-100.0-100.060.31-31.590.430.00-100.0-100.045.26-10.87-42.9415.05-65.91285.9
22Q3 (11)1.03-49.26-51.8713.45273.6160.8988.1696.43107.396.77-73.24-37.8350.78-53.1328.7544.15215.64216.49
22Q2 (10)2.03-70.19-14.713.60-49.79-51.0244.88235.6817.5525.3099.37104.2108.35111.1387.91-38.18-51.15-437.75
22Q1 (9)6.81348.03205.387.1782.4443.6913.37-77.74-67.2112.69-45.23-30.3951.32-35.3-26.73-25.26-747.69-128.6
21Q4 (8)1.52-28.97-32.143.93-52.99-32.2460.0541.2647.823.17112.7647.7779.32101.1242.023.90-72.04747.83
21Q3 (7)2.14-10.08-16.088.3613.74-62.8842.5111.3418.9410.89-12.11169.5539.44-31.610.7913.95296.48233.73
21Q2 (6)2.386.73-2.067.3547.29-89.0938.18-6.351.8412.39-32.04817.7857.66-17.6841.91-7.1035.75-296.65
21Q1 (5)2.23-0.4549.664.99-13.97-91.740.770.34-33.4418.2316.261107.2870.0425.4116.67-11.05-2502.17-503.28
20Q4 (4)2.24-12.160.05.80-74.250.040.6313.680.015.68288.120.055.8556.880.00.46-89.00.0
20Q3 (3)2.554.940.022.52-66.570.035.74-4.670.04.04199.260.035.60-12.380.04.18333.520.0
20Q2 (2)2.4363.090.067.3612.10.037.49-38.790.01.35-10.60.040.63-32.320.0-1.79-165.330.0
20Q1 (1)1.490.00.060.090.00.061.250.00.01.510.00.060.030.00.02.740.00.0
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)25.911026.521.28-51.8814.09-91.14285.65108.09175.96-5.35123.7812.18
2023 (9)2.30-49.02.66-93.31158.9796.5137.271395.32185.90219.47110.34246.0
2022 (8)4.51-56.1339.74188.680.90127.769.18-65.3858.19-35.631.890
2021 (7)10.28-2.5613.77-68.535.522.6926.52217.690.3671.23-28.320
2020 (6)10.55-59.9543.71-77.9934.59149.578.35353.852.77143.52-9.830
2019 (5)26.3465.66198.61593.9613.86-39.631.84-85.5721.67-47.25-5.970
2018 (4)15.9064.2628.62466.7322.96-39.112.75-82.3641.08-42.81-5.370
2017 (3)9.68-74.795.05156.3537.70296.4272.27-60.9671.83269.6938.13-78.24
2016 (2)38.39425.171.97515.629.51-80.95185.14-83.6519.43-78.71175.22-83.94
2015 (1)7.3119.250.32-79.2249.91-16.171132.59376.4891.2814.241091.22402.06

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