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)1.23-27.22167.390.5920.41-20.2773.9537.22-62.28155.46-15.4626.479.52-39.4823.8219.90-0.96-29.36
24Q3 (19)1.69704.7636.290.49250.0-14.0453.89-87.5-26.52183.88-71.915.3515.73-76.2190.67222.04-78.22-1.09
24Q2 (18)0.21320.031.250.14-26.32-33.33431.01-75.7-22.14654.4935.1649.6566.1246.2862.181019.37-53.927.29
24Q1 (17)0.05-89.13-84.380.19-74.32-40.621773.34804.49516.34484.24293.9571.6145.20487.7844.222212.38610.69310.8
23Q4 (16)0.46-62.9-28.120.7429.8251.02196.06167.3338.9122.92-22.89-33.417.69-6.79-66.08311.3038.672.72
23Q3 (15)1.24675.0-8.150.57171.43-13.6473.34-86.758.44159.41-63.5516.498.25-79.76-69.16224.49-76.3726.31
23Q2 (14)0.16-50.0-94.180.21-34.38-51.16553.5692.41575.93437.3655.0107.6840.7730.095.59950.1476.43363.44
23Q1 (13)0.32-50.0-56.160.32-34.696.67287.72103.84130.84282.1752.87-6.7231.3438.2435.85538.5577.733.28
22Q4 (12)0.64-52.59-80.00.49-25.76-38.75141.15108.71396.13184.5834.8861.2822.67-15.2578.93303.0670.52132.69
22Q3 (11)1.35-50.91-51.440.6653.4910.067.63104.75106.31136.85-35.02-9.8526.75-30.72-3.11177.73-13.3113.23
22Q2 (10)2.75276.71-9.540.4343.33104.7633.03-73.510.39210.59-30.38-50.9938.6167.36-54.57205.02-49.26-45.28
22Q1 (9)0.73-77.19508.330.30-62.520.0124.64338.1-83.7302.49164.3-17.6423.0782.08-59.54404.06210.24-62.41
21Q4 (8)3.2015.115.260.8033.33-28.5728.45-13.21-4.88114.45-24.640.3812.67-54.11157.52130.24-17.0322.27
21Q3 (7)2.78-8.5524.660.60185.7111.1132.789.56-19.83151.80-64.67-10.6127.61-67.5137.98156.97-58.1-17.69
21Q2 (6)3.042433.33275.310.21-16.05.029.92-96.09-73.22429.7117.0-4.5184.9849.0412.96374.64-65.14-22.99
21Q1 (5)0.12-96.05-91.240.25-77.68-67.11764.602456.341052.9367.26350.46206.6957.021058.94534.971074.84909.05506.95
20Q4 (4)3.0436.320.01.12107.410.029.91-26.850.081.53-51.990.04.92-75.410.0106.52-44.140.0
20Q3 (3)2.23175.310.00.54170.00.040.89-63.410.0169.82-62.260.020.01-73.40.0190.70-60.80.0
20Q2 (2)0.81-40.880.00.20-73.680.0111.7468.490.0449.99275.770.075.23737.750.0486.50174.720.0
20Q1 (1)1.370.00.00.760.00.066.320.00.0119.750.00.08.980.00.0177.090.00.0
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)2.087.221.92-17.24175.34-6.95189.9820.6412.110.0353.215.82
2023 (9)1.94-72.682.32-0.85188.43266.31157.480.7512.1164.99333.7966.57
2022 (8)7.10-58.552.34-19.5951.44141.5156.3024.767.3461.32200.3941.08
2021 (7)17.13181.742.91-14.6621.30-64.52125.2817.184.55-7.52142.04-12.33
2020 (6)6.08120.293.4138.0660.03-54.66106.91-27.84.924.68162.02-41.25
2019 (5)2.76-19.532.4724.75132.4124.35148.07-19.724.70-52.04275.78-1.9
2018 (4)3.4335.571.9837.5106.48-26.08184.44-27.339.80-35.1281.12-26.55
2017 (3)2.53-11.541.44-9.43144.0412.67253.8010.4215.1066.67382.739.78
2016 (2)2.8612.61.5918.66127.84-11.18229.86-15.479.06-36.73348.63-13.17
2015 (1)2.54-0.391.34-33.66143.930.47271.9350.814.3220.24401.5328.84

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