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
22Q3 (20)1.46-12.0526.960.34-8.11-19.0562.5214.32-21.2269.069.6922.8249.19-5.6-34.88282.3913.9326.7
22Q2 (19)1.6650.9134.960.37-2.63-32.7354.69-33.99-26.17245.291.3347.6952.11-20.33-7.18247.87-4.4834.7
22Q1 (18)1.10-27.63-20.860.38-36.67-43.2882.8538.0426.59242.0658.9478.865.4130.7435.93259.4959.8969.92
21Q4 (17)1.5232.1716.030.6042.86-1.6460.02-24.35-13.59152.30-30.482.7950.03-33.77-11.64162.29-27.190.79
21Q3 (16)1.15-6.5-22.30.42-23.64-30.079.347.128.67219.0731.9144.6375.5434.5649.02222.8821.1237.22
21Q2 (15)1.23-11.51-22.640.55-17.917.8474.0813.1929.47166.0822.68-7.0356.1416.674.56184.0120.51.01
21Q1 (14)1.396.11-2.80.679.8439.5865.45-5.772.97135.38-8.63-27.8548.12-15.01-23.74152.71-5.15-18.81
20Q4 (13)1.31-11.4933.670.611.678.9369.4612.65-25.42148.17-2.18-9.5156.6211.7-10.9161.01-0.87-16.72
20Q3 (12)1.48-6.9212.980.6017.65-21.0561.667.76-11.02151.47-15.2127.1150.69-5.5914.35162.43-10.8412.7
20Q2 (11)1.5911.1930.330.516.25-1.9257.22-9.97-23.01178.64-4.81.3753.69-14.91-9.69182.17-3.15-4.67
20Q1 (10)1.4345.9258.890.48-14.294.3563.56-31.76-37.48187.6414.6-4.9663.10-0.71-7.64188.10-2.71-18.49
19Q4 (9)0.98-25.19-14.040.56-26.32-9.6893.1434.416.32163.7437.4111.1963.5543.369.27193.3434.1514.29
19Q3 (8)1.317.382.340.7646.1535.7169.30-6.75-2.82119.16-32.38-26.444.33-25.43-32.83144.12-24.58-13.81
19Q2 (7)1.2235.567.020.5213.04-3.774.32-26.89-7.19176.23-10.744.3559.45-12.98-10.28191.10-17.194.6
19Q1 (6)0.90-21.05-7.220.46-25.81-22.03101.6626.968.18197.4334.0727.9668.3217.471.05230.7636.4127.74
18Q4 (5)1.14-10.9400.6210.71080.0712.280147.26-9.05058.16-11.880169.171.170
18Q3 (4)1.2812.280.00.563.70.071.31-10.950.0161.91-4.130.066.00-0.390.0167.22-8.470.0
18Q2 (3)1.1417.530.00.54-8.470.080.08-14.780.0168.889.460.066.26-2.00.0182.701.130.0
18Q1 (2)0.9700.00.5900.093.9700.0154.2900.067.6100.0180.6500.0
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
2021 (10)4.84-4.162.142.3975.474.4170.71-2.1861.88-7.99184.302.65
2020 (9)5.055.872.09-14.3472.29-5.61174.5116.6367.2521.63179.555.04
2019 (8)4.7729.972.441.2476.59-23.03149.63-1.455.29-14.87170.93-8.26
2018 (7)3.67-13.852.41-8.3799.5116.11151.759.3664.95-3.0186.3218.3
2017 (6)4.26-3.842.631.1585.704.0138.76-1.2766.96-6.27157.503.96
2016 (5)4.43-9.222.60-24.282.4010.25140.5432.1171.4422.37151.5023.42
2015 (4)4.881.043.433.9474.74-1.14106.38-3.7558.38-3.81122.75-2.14
2014 (3)4.83-10.223.306.1175.6011.52110.53-5.7260.69-1.22125.441.51
2013 (2)5.38-2.713.1111.0767.792.73117.23-10.1561.44-13.6123.58-1.41
2012 (1)5.5302.80065.990130.47071.110125.350

財務分析相關資訊

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。