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)1.0825.5816.132.13-47.41-31.9584.54-19.78-13.7742.6489.9346.53126.4614.8332.240.71-95.99-97.75
24Q3 (19)0.862.3826.474.05-1.767.36105.38-2.24-20.8722.451.54-40.28110.136.33-3.3317.70-32.78-68.86
24Q2 (18)0.847.6950.04.1247.14102.96107.80-7.78-34.0822.11-31.86-50.56103.57-14.69-10.3126.33-5.73-71.62
24Q1 (17)0.78-16.13136.362.80-10.5476.1116.8919.23-57.3632.4511.51-43.34121.4126.96-45.0727.93-11.33-74.7
23Q4 (16)0.9336.76181.823.1329.3496.8698.04-26.38-64.2429.10-22.59-49.1995.63-16.06-56.7331.50-44.58-71.46
23Q3 (15)0.6821.43-49.632.4219.2179.26133.17-18.5798.0837.59-15.94-44.22113.92-1.35-1.8256.84-38.73205.76
23Q2 (14)0.5669.7-28.212.0327.67118.28163.53-40.3539.7544.72-21.91-54.29115.48-47.75-31.9792.77-15.95105.61
23Q1 (13)0.330.0-53.521.590.0-51.38274.140.0115.3557.270.0105.93221.030.0109.53110.380.0122.45
22Q4 (12)0.33-75.56-63.331.5917.78-70.22274.14307.76172.157.27-15.02236.09221.0390.49199.54110.38493.76150.92
22Q3 (11)1.3573.0853.411.3545.16-75.3267.23-42.55-34.7567.39-31.12305.23116.03-31.6462.1218.59-58.8-61.35
22Q2 (10)0.789.86-30.360.93-71.56-77.64117.02-8.0843.8397.84251.82347.58169.7460.91156.1345.12-9.0722.11
22Q1 (9)0.71-21.11-38.263.27-38.7643.42127.3026.3560.4327.8163.2-30.48105.4942.9628.8749.6212.832.39
21Q4 (8)0.902.275.885.34-2.38223.64100.75-2.22-6.0117.042.47-69.0573.793.1-23.6243.99-8.54-32.99
21Q3 (7)0.88-21.43-12.875.4731.49179.08103.0426.6514.6416.63-23.92-64.1771.578.0-5.1248.1030.18-20.95
21Q2 (6)1.12-2.610.04.1682.46173.6881.362.530.2321.86-45.35-63.5166.27-19.04-20.8336.95-1.41-35.58
21Q1 (5)1.1535.29-15.442.2838.1841.6179.35-25.9718.9740.00-27.35-29.1881.86-15.276.137.48-42.91-18.56
20Q4 (4)0.85-15.840.01.65-15.820.0107.1919.260.055.0618.640.096.6128.080.065.657.890.0
20Q3 (3)1.01-9.820.01.9628.950.089.8810.730.046.41-22.520.075.43-9.890.060.856.080.0
20Q2 (2)1.12-17.650.01.52-5.590.081.1721.690.059.906.060.083.718.50.057.3624.640.0
20Q1 (1)1.360.00.01.610.00.066.700.00.056.480.00.077.150.00.046.020.00.0
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)3.80117.146.60-19.2296.02-54.0355.3023.82150.21-26.21.11-97.78
2023 (9)1.75-46.488.17-58.04208.8786.8944.66138.31203.55118.3549.9834.07
2022 (8)3.27-8.6619.4792.2111.769.6318.74-47.9793.220.0637.28-16.79
2021 (7)3.58-19.9110.1339.72101.9424.8836.02-28.4793.167.1544.80-0.55
2020 (6)4.47-1.977.25-22.5481.631.9550.3629.1986.947.8745.0517.17
2019 (5)4.5615.449.36-5.8480.07-13.3438.986.1580.602.4138.45-23.73
2018 (4)3.955.339.9412.9592.40-5.1436.72-11.578.705.8150.41-21.87
2017 (3)3.750.08.800.097.410.041.490.074.380.064.520.0
2016 (2)3.7512.958.80-45.9597.41-11.3641.4985.0674.38-19.4664.5261.38
2015 (1)3.32-12.6316.28-63.28109.9014.3822.42172.4292.3520.4539.9844.7

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