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
21Q2 (20)1.13-11.02-39.57949.7846.6358.8780.5212.7665.920.10-28.57-33.3379.38-11.2269.331.23106.89-32.04
21Q1 (19)1.27-7.3-9.93647.72-24.899.9371.417.5310.370.1427.27-6.6789.4114.61103.11-17.86-55.44-185.74
20Q4 (18)1.37-8.05-4.2862.390.37640.5766.418.674.430.110.0-85.978.0128.92107.53-11.49-1718.31-142.91
20Q3 (17)1.49-20.324.93859.1943.71592.9561.1125.92-4.960.11-26.67-84.9360.5129.0732.320.71-60.77-96.32
20Q2 (16)1.8732.6228.08597.851.4637.1748.53-24.99-22.030.150.0-28.5746.886.5-5.141.81-91.31-86.11
20Q1 (15)1.41-1.4-15.06589.22405.9950.3264.701.7517.920.15-80.77-34.7844.0217.1112.2720.83-22.2231.17
19Q4 (14)1.430.7-10.63116.45-6.08-54.1963.59-1.111.480.786.85116.6737.59-17.829.2626.7838.76-5.4
19Q3 (13)1.42-2.744.41123.99-71.55-47.7664.303.31-3.770.73247.6292.1145.73-7.4744.9419.3048.12-45.86
19Q2 (12)1.46-12.05-1.35435.8511.1911.6262.2413.431.30.21-8.7-8.749.4226.0473.5913.03-17.95-60.75
19Q1 (11)1.663.7513.7391.9854.21-16.9354.87-3.8-11.710.23-36.1121.0539.2134.8320.4215.88-43.91-46.68
18Q4 (10)1.6017.653.23254.197.1-68.5657.04-14.64-2.990.36-5.26227.2729.08-7.83-5.3128.31-20.590.39
18Q3 (9)1.36-8.11-19.53237.34-39.22066.828.7624.040.3865.22031.5510.8213.4535.657.3836.8
18Q2 (8)1.481.37-2.63390.47-17.25061.44-1.142.450.2321.05028.47-12.56-11.4733.2011.4819.34
18Q1 (7)1.46-5.8112.31471.85-41.64062.155.7-11.060.1972.73032.566.02-8.1529.785.6-13.51
17Q4 (6)1.55-8.2826.02808.480256.7658.809.15-20.690.110-72.530.7110.43-12.6128.208.21-28.41
17Q3 (5)1.6911.1819.860.000-100.053.87-10.17-16.470.000-100.027.81-13.531.4626.06-6.33-30.97
17Q2 (4)1.5216.920.00.0000.059.97-14.180.00.0000.032.16-9.280.027.82-19.20.0
17Q1 (3)1.305.690.00.00-100.00.069.88-5.750.00.00-100.00.035.450.880.034.43-12.590.0
16Q4 (2)1.23-12.770.0226.6265.480.074.1414.960.00.40-39.390.035.1428.20.039.394.340.0
16Q3 (1)1.410.00.0136.950.00.064.490.00.00.660.00.027.410.00.037.750.00.0
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)6.63-16.295088.37115.555.0319.420.07-53.3351.94142.033.16-87.25
2019 (9)7.9237.022361.18102.1746.08-26.980.15-51.6121.46-31.9224.78-22.34
2018 (8)5.782.851167.89-55.4763.11-2.850.31121.4331.52-2.6331.91-2.51
2017 (7)5.62-18.792622.48064.9623.080.14032.3773.7532.73-4.16
2016 (6)6.9256.560.00052.78-36.060.00018.63-53.3834.15-20.67
2015 (5)4.42-33.43789.76135.1582.5550.090.46-57.839.9614.1143.05104.42
2014 (4)6.64-46.1335.85219.2855.0085.621.09-68.5935.0296.9621.0637.56
2013 (3)12.3290.12105.19342.3529.63-47.43.47-77.3917.78-29.8615.31-66.95
2012 (2)6.48023.78056.33015.35025.35046.330

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