- 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
| 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 | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 25Q1 (20) | 1.90 | 1.6 | 32.87 | 0.78 | 4.0 | -18.75 | 47.97 | -1.64 | -24.41 | 116.33 | -4.41 | 22.12 | 62.32 | -14.3 | -12.99 | 101.98 | 4.33 | 17.08 |
| 24Q4 (19) | 1.87 | -1.06 | 17.61 | 0.75 | -6.25 | -28.57 | 48.77 | 1.56 | -14.89 | 121.70 | 6.52 | 41.09 | 72.72 | -3.9 | 8.36 | 97.75 | 12.88 | 27.84 |
| 24Q3 (18) | 1.89 | 8.0 | 9.25 | 0.80 | -15.79 | -16.67 | 48.02 | -7.76 | -8.9 | 114.25 | 19.66 | 20.77 | 75.67 | 13.88 | 17.48 | 86.60 | 6.79 | 4.45 |
| 24Q2 (17) | 1.75 | 22.38 | -17.45 | 0.95 | -1.04 | 26.67 | 52.06 | -17.96 | 21.52 | 95.48 | 0.23 | -21.12 | 66.45 | -7.22 | 10.57 | 81.09 | -6.9 | -21.87 |
| 24Q1 (16) | 1.43 | -10.06 | -5.92 | 0.96 | -8.57 | 95.92 | 63.46 | 10.75 | 6.16 | 95.26 | 10.43 | -48.23 | 71.62 | 6.72 | 1.27 | 87.10 | 13.92 | -49.67 |
| 23Q4 (15) | 1.59 | -8.09 | -14.52 | 1.05 | 9.38 | 81.03 | 57.30 | 8.71 | 17.13 | 86.26 | -8.82 | -44.78 | 67.11 | 4.19 | 6.14 | 76.46 | -7.78 | -46.11 |
| 23Q3 (14) | 1.73 | -18.4 | 13.07 | 0.96 | 28.0 | 74.55 | 52.71 | 23.04 | -11.14 | 94.60 | -21.85 | -43.33 | 64.41 | 7.17 | -30.87 | 82.91 | -20.12 | -37.7 |
| 23Q2 (13) | 2.12 | 39.47 | 29.27 | 0.75 | 53.06 | -8.54 | 42.84 | -28.34 | -22.66 | 121.05 | -34.21 | 9.51 | 60.10 | -15.02 | -28.99 | 103.79 | -40.02 | 27.68 |
| 23Q1 (12) | 1.52 | -18.28 | -4.4 | 0.49 | -15.52 | -52.43 | 59.78 | 22.2 | 4.66 | 184.00 | 17.8 | 108.05 | 70.72 | 11.85 | -8.7 | 173.05 | 21.97 | 154.11 |
| 22Q4 (11) | 1.86 | 21.57 | 24.83 | 0.58 | 5.45 | -54.69 | 48.92 | -17.53 | -19.82 | 156.20 | -6.43 | 120.22 | 63.23 | -32.13 | -1.08 | 141.88 | 6.61 | 108.62 |
| 22Q3 (10) | 1.53 | -6.71 | -6.13 | 0.55 | -32.93 | -58.02 | 59.32 | 7.1 | 6.46 | 166.94 | 51.02 | 140.55 | 93.17 | 10.08 | 52.19 | 133.08 | 63.71 | 108.26 |
| 22Q2 (9) | 1.64 | 3.14 | 8.61 | 0.82 | -20.39 | -33.87 | 55.39 | -3.03 | -8.11 | 110.54 | 24.99 | 50.17 | 84.64 | 9.27 | 25.04 | 81.29 | 19.37 | 22.79 |
| 22Q1 (8) | 1.59 | 6.71 | -3.64 | 1.03 | -19.53 | -22.56 | 57.12 | -6.38 | 3.33 | 88.44 | 24.69 | 29.3 | 77.46 | 21.18 | 23.05 | 68.10 | 0.13 | 12.15 |
| 21Q4 (7) | 1.49 | -8.59 | -16.29 | 1.28 | -2.29 | 11.3 | 61.01 | 9.49 | 19.63 | 70.93 | 2.2 | -10.43 | 63.92 | 4.41 | 6.98 | 68.01 | 6.43 | -3.45 |
| 21Q3 (6) | 1.63 | 7.95 | 2.52 | 1.31 | 5.65 | 40.86 | 55.72 | -7.56 | -2.6 | 69.40 | -5.72 | -28.93 | 61.22 | -9.56 | -5.26 | 63.90 | -3.47 | -29.2 |
| 21Q2 (5) | 1.51 | -8.48 | 12.69 | 1.24 | -6.77 | 42.53 | 60.28 | 9.04 | -10.93 | 73.61 | 7.62 | -30.0 | 67.69 | 7.53 | -10.71 | 66.20 | 9.03 | -31.76 |
| 21Q1 (4) | 1.65 | -7.3 | 0.0 | 1.33 | 15.65 | 0.0 | 55.28 | 8.39 | 0.0 | 68.40 | -13.63 | 0.0 | 62.95 | 5.36 | 0.0 | 60.72 | -13.8 | 0.0 |
| 20Q4 (3) | 1.78 | 11.95 | 0.0 | 1.15 | 23.66 | 0.0 | 51.00 | -10.85 | 0.0 | 79.19 | -18.9 | 0.0 | 59.75 | -7.54 | 0.0 | 70.44 | -21.95 | 0.0 |
| 20Q3 (2) | 1.59 | 18.66 | 0.0 | 0.93 | 6.9 | 0.0 | 57.21 | -15.47 | 0.0 | 97.65 | -7.13 | 0.0 | 64.62 | -14.76 | 0.0 | 90.25 | -6.97 | 0.0 |
| 20Q2 (1) | 1.34 | 0.0 | 0.0 | 0.87 | 0.0 | 0.0 | 67.68 | 0.0 | 0.0 | 105.15 | 0.0 | 0.0 | 75.81 | 0.0 | 0.0 | 97.01 | 0.0 | 0.0 |
| 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) | 6.47 | 9.66 | 3.49 | 9.06 | 56.44 | -8.79 | 104.46 | -8.46 | 68.27 | 3.46 | 92.63 | -15.8 |
| 2023 (9) | 5.90 | -0.67 | 3.20 | -4.76 | 61.88 | 0.77 | 114.11 | 4.99 | 65.99 | -0.15 | 110.01 | 5.77 |
| 2022 (8) | 5.94 | -13.66 | 3.36 | -36.6 | 61.41 | 15.78 | 108.69 | 57.91 | 66.09 | 9.64 | 104.01 | 68.87 |
| 2021 (7) | 6.88 | 27.17 | 5.30 | 21.56 | 53.04 | -21.4 | 68.83 | -17.82 | 60.28 | -18.6 | 61.59 | -20.2 |
| 2020 (6) | 5.41 | -15.86 | 4.36 | 2.83 | 67.48 | 18.82 | 83.76 | -2.63 | 74.05 | 13.23 | 77.18 | -0.31 |
| 2019 (5) | 6.43 | 17.55 | 4.24 | 14.59 | 56.79 | -14.83 | 86.02 | -12.85 | 65.40 | -1.77 | 77.42 | -21.64 |
| 2018 (4) | 5.47 | -7.6 | 3.70 | -7.96 | 66.68 | 8.12 | 98.70 | 8.63 | 66.58 | 15.27 | 98.80 | 4.25 |
| 2017 (3) | 5.92 | -0.67 | 4.02 | 8.06 | 61.67 | 0.62 | 90.86 | -7.43 | 57.76 | -3.81 | 94.77 | -4.64 |
| 2016 (2) | 5.96 | 7.78 | 3.72 | -10.14 | 61.29 | -7.15 | 98.15 | 11.45 | 60.05 | -4.89 | 99.38 | 9.29 |
| 2015 (1) | 5.53 | -15.96 | 4.14 | -1.9 | 66.01 | 18.94 | 88.07 | 1.91 | 63.14 | 6.12 | 90.93 | 10.34 |
