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)4.93-76.84-77.20.42-30.0-32.2618.44331.85338.0215.3540.9446.7335.64-8.29-30.62198.1667.6398.94
24Q3 (19)21.29-58.64-14.430.60-36.84-65.914.27141.2416.67152.8059.47196.1238.8651.4418.44118.2164.36426.78
24Q2 (18)51.48112.5595.740.95171.43-43.111.77-52.93-48.8495.82-62.9575.7525.66-57.14-4.2571.92-64.49130.66
24Q1 (17)24.2212.03-13.990.35-43.55-80.03.76-10.6916.41258.6476.22397.7759.8716.5592.51202.53103.32740.72
23Q4 (16)21.62-13.1-36.430.62-64.77-69.314.2115.0357.09146.77184.44225.2251.3756.5764.2899.61343.89502.24
23Q3 (15)24.88-5.4-45.211.765.39-22.123.665.7883.051.60-5.3628.3932.8122.4317.4722.44-28.0357.25
23Q2 (14)26.30-6.61-48.841.67-4.57-26.113.467.1295.4854.524.9335.3226.80-13.836.2231.1829.4385.26
23Q1 (13)28.16-17.2-39.691.75-13.37-25.533.2320.5265.6451.9615.1334.3731.10-0.5459.6524.0945.6514.01
22Q4 (12)34.01-25.1-31.682.02-10.62-18.882.6834.046.4545.1312.2923.5431.2711.9655.3416.5415.91-9.27
22Q3 (11)45.41-11.67-19.952.260.00.442.0012.9925.040.19-0.25-0.6927.9310.714.814.27-15.21-19.61
22Q2 (10)51.4110.11-6.012.26-3.8314.721.77-9.236.6340.294.19-12.5725.2329.52-13.1816.83-20.35-9.95
22Q1 (9)46.69-6.21-22.342.35-5.626.821.956.5629.1438.675.86-6.5319.48-3.23-33.3821.1315.9154.91
21Q4 (8)49.78-12.25-10.582.4910.6714.751.8314.3712.2736.53-9.74-13.0920.13-17.26-30.6118.232.724.44
21Q3 (7)56.733.71-8.442.2514.21-0.441.60-3.618.8440.47-12.170.6724.33-16.28-6.3117.75-5.0313.06
21Q2 (6)54.70-9.02-6.431.97-10.4515.21.669.936.4146.0811.39-13.4829.06-0.62-9.5318.6937.02-17.67
21Q1 (5)60.127.99-2.642.201.38-9.091.51-7.362.7241.37-1.5710.2329.240.7968.9213.64-6.89-37.11
20Q4 (4)55.67-10.150.02.17-3.980.01.6310.880.042.034.550.029.0111.710.014.65-6.690.0
20Q3 (3)61.965.990.02.2632.160.01.47-5.770.040.20-24.520.025.97-19.150.015.70-30.840.0
20Q2 (2)58.46-5.330.01.71-29.340.01.566.120.053.2641.910.032.1285.560.022.704.660.0
20Q1 (1)61.750.00.02.420.00.01.470.00.037.530.00.017.310.00.021.690.00.0
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)30.99-70.52.15-12.2411.78239.48169.5613.8433.84-27.78147.5039.73
2023 (9)105.04-26.632.45-70.733.4736.08148.95241.5546.8685.44105.56405.31
2022 (8)143.16-24.288.37-5.12.5532.1243.615.3425.2711.9120.890.67
2021 (7)189.06-6.018.8211.791.936.6341.40-10.5322.58-3.1720.75-16.23
2020 (6)201.1418.397.89-27.081.81-15.8146.2737.1423.3287.9124.775.54
2019 (5)169.8911.1710.82-42.262.15-10.0433.7473.2912.41-8.8823.47184.83
2018 (4)152.82-4.9918.74-47.542.395.2919.4790.5113.62-48.558.240
2017 (3)160.85-12.1235.72-27.12.2714.0710.2237.1826.47-31.26-13.980
2016 (2)183.04204.4149.00-31.931.99-67.227.4546.9438.510.55-29.060
2015 (1)60.1382.8871.9983.936.07-45.325.07-45.6638.30-14.39-27.160

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