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
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
21Q1 (20)0.72-76.47101.165.641164.151126.09127.16327.14016.120-91.8122.840-89.74120.4400
20Q4 (19)3.06100.59-99.45-0.530-107.229.77018506.250.000-100.00.000-100.00.000-100.0
20Q3 (18)-521.24-13780.84-46027.430.00100.0-100.00.00-100.000.000-100.00.000-100.00.0000
20Q2 (17)3.81106.13-29.57-6.38-1486.96-220.623.91042.240.00-100.000.00-100.000.0000
20Q1 (16)-62.16-111.16-861.760.46-93.75-88.780.00-100.0-100.0196.781492.07787.2222.672407.551766.470.00-100.0-100.0
19Q4 (15)556.9349385.84188.17.36224.23103.360.160012.36-69.2308.88-61.2903.6500
19Q3 (14)-1.13-120.89-140.212.27214.07-62.790.00-100.0-100.040.170169.4222.940107.040.000-100.0
19Q2 (13)5.41-33.793.21-1.99-148.54-100.916.8150.76-48.250.00-100.0-100.00.00-100.0-100.00.00-100.0-100.0
19Q1 (12)8.16101.29106.584.10101.87-89.2211.150-51.5822.180828.0311.930381.0521.390-6.76
18Q4 (11)-632.14-22596.09-10149.92-219.34-3695.74-13002.350.00-100.0-100.00.00-100.0-100.00.00-100.0-100.00.00-100.0100.0
18Q3 (10)2.810.36-41.826.10-97.25200.4932.37-0.3471.6314.913536.59-66.7911.082977.78-82.7736.1911.226680.0
18Q2 (9)2.80-29.11-2.44222.15483.8410529.1932.4841.032.490.41-82.85-99.060.36-85.48-99.4832.5441.85483.15
18Q1 (8)3.95-37.2121.9138.052138.241403.9523.0359.05-54.872.39-95.53-93.362.48-96.38-95.9722.944428.3-10.25
17Q4 (7)6.2930.23516.671.70-16.26-31.4514.48-23.22-83.8353.4519.0745.7268.456.4572.9-0.533.64-100.61
17Q3 (6)4.8368.29252.552.03-2.87-37.1518.86-40.49-71.6244.893.3459.1864.30-7.55116.72-0.55-109.86-100.85
17Q2 (5)2.8761.24131.452.09-17.3923.6731.69-37.9-56.6543.4420.63-19.1769.5513.149.365.58-78.17-91.18
17Q1 (4)1.7874.510.02.532.020.051.03-43.00.036.01-1.830.061.4755.270.025.56-70.490.0
16Q4 (3)1.02-25.550.02.48-23.220.089.5334.730.036.6830.070.039.5933.430.086.6133.270.0
16Q3 (2)1.3710.480.03.2391.120.066.45-9.10.028.20-47.530.029.67-53.350.064.992.750.0
16Q2 (1)1.240.00.01.690.00.073.100.00.053.740.00.063.600.00.063.250.00.0
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
2020 (10)3.05-96.892.32-83.94119.553105.09157.28522.64265.921202.2510.9127.3
2019 (9)97.960.7314.45-93.943.73-0.5325.261550.9820.421412.598.57117.51
2018 (8)97.251198.4238.432688.653.75-92.31.53-96.421.35-97.853.94-86.24
2017 (7)7.4936.438.5542.9848.70-26.7142.68-30.0462.75-44.128.6388.36
2016 (6)5.4944.095.9858.6266.45-30.5561.01-37.03112.269.7715.20-83.17
2015 (5)3.81-14.193.7730.095.6816.2796.88-22.98102.2717.7590.29-25.52
2014 (4)4.44-30.192.90-14.282.2943.31125.7816.3986.8517.46121.2232.42
2013 (3)6.36-2.153.38-9.3857.422.3108.0710.5373.94-1.9491.5416.63
2012 (2)6.5003.73056.13097.77075.40078.490

免責聲明

本網站所有資料僅供參考,如使用者依本資料交易發生交易損失需自行負責,本網站對資料內容錯誤﹑更新延誤不負任何責任。