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)2.1415.686.471.169.433.5742.48-13.82-6.3378.33-9.02-3.8157.95-10.5-17.7262.86-11.0111.55
24Q3 (19)1.85-17.04-18.51.06-5.36-13.1149.2920.7823.0786.105.7515.8264.754.023.3870.6417.7736.48
24Q2 (18)2.2325.2816.151.1227.27-2.6140.81-20.2-13.9681.42-20.842.9162.25-19.2721.3959.98-21.98-20.31
24Q1 (17)1.78-11.440.560.88-21.43-16.9851.1412.77-0.54102.8526.319.6977.119.4852.2476.8836.43-11.33
23Q4 (16)2.01-11.4518.241.12-8.227.2745.3513.23-15.4781.439.54-21.1670.4312.455.1256.358.87-37.35
23Q3 (15)2.2718.2333.531.226.0916.1940.05-15.56-25.3674.34-6.04-14.6362.6322.132.7751.76-31.23-35.13
23Q2 (14)1.928.4713.611.158.494.5547.43-7.76-12.0579.12-7.93-4.251.281.24-18.2875.27-13.182.05
23Q1 (13)1.774.124.121.0620.450.051.42-4.16-4.1985.93-16.80.0850.65-24.4-33.486.70-3.636.6
22Q4 (12)1.700.0-1.160.88-16.19-34.8153.65-0.021.25103.2818.652.7467.009.94-15.289.9412.72116.25
22Q3 (11)1.700.59-21.661.05-4.55-40.053.66-0.528.1387.085.4467.0860.94-2.88-20.6179.798.18362.55
22Q2 (10)1.69-0.59-38.991.103.77-42.1153.930.4864.3782.59-3.8172.7162.75-17.49-3.5573.7616.21373.73
22Q1 (9)1.70-1.16-40.771.06-21.48-32.0553.671.2869.1585.8626.9747.176.05-3.7514.5263.4752.61167.92
21Q4 (8)1.72-20.74-44.161.35-22.86-24.1652.9926.5379.5167.6229.7432.1279.012.9336.1541.59141.183.46
21Q3 (7)2.17-21.66-28.381.75-7.8910.7641.8827.6439.6552.128.99-9.6976.7617.9820.917.2510.79-28.75
21Q2 (6)2.77-3.48-9.181.9021.7938.6932.813.49.8147.82-18.07-28.2165.06-2.0310.1415.57-34.28-58.39
21Q1 (5)2.87-6.825.91.56-12.3664.2131.737.49-5.4858.3714.05-38.8766.4114.44-14.423.694.5-53.98
20Q4 (4)3.081.650.01.7812.660.029.52-1.570.051.18-11.320.058.03-8.60.022.67-6.360.0
20Q3 (3)3.03-0.660.01.5815.330.029.990.370.057.71-13.360.063.497.480.024.21-35.30.0
20Q2 (2)3.0512.550.01.3744.210.029.88-10.990.066.61-30.240.059.07-23.860.037.42-27.310.0
20Q1 (1)2.710.00.00.950.00.033.570.00.095.480.00.077.580.00.051.480.00.0
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)7.72-4.344.52-0.6647.284.5180.740.663.7414.0964.27-7.7
2023 (9)8.0710.254.558.3345.24-9.2380.26-7.6655.87-17.7269.631.12
2022 (8)7.32-29.624.20-33.9649.8441.9986.9251.4867.9012.1968.86115.46
2021 (7)10.40-21.156.3618.8835.1026.8157.38-15.9560.52-9.3931.969.64
2020 (6)13.19-20.455.3515.327.6825.768.27-13.2466.79-20.0929.1570.27
2019 (5)16.581.044.64-10.4222.02-0.9978.6911.7183.58-0.7517.12102.13
2018 (4)16.4127.115.18-4.9522.24-21.3370.445.1784.2126.238.47-70.31
2017 (3)12.91-21.095.459.4428.2726.7166.98-8.766.7116.9528.53-26.15
2016 (2)16.3672.574.988.522.31-42.0573.36-7.7157.046.438.63-40.0
2015 (1)9.4872.994.5912.2238.50-42.1979.49-10.9253.61-13.8764.38-31.21

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