{"F": {"ts_code": "002006.SZ", "name": "精工科技", "mkt": "CN", "ccy": "元", "sw1": "机械设备", "sw2": "专用设备", "sw3": "其他专用设备", "ind": "专用设备", "fin_source": "tushare", "market": "主板", "list_date": "20040625", "is_fin": false, "roles": {"fin": false, "commodity": false, "precious": false, "regulated": false, "hard": true, "growth": true}, "province": null, "main_business": "", "introduction": "", "close": 13.5, "pe_ttm": 35.7825, "pb": 2.8369, "dv_ttm": 1.4815, "total_mv": 701572.725, "trade_date": "20260904", "years": ["20201231", "20211231", "20221231", "20231231", "20241231", "20251231"], "multi_year": true, "gm_series": [24.8, 21.5, 27.5, 32.5, 29.2, 32.6], "rev_series": [10.7, 17.3, 23.6, 15.4, 17.3, 16.9], "np_series": [0.3, 1.1, 2.9, 1.8, 1.5, 1.9], "roe_series": [3.1, 10.8, 24.4, 13.7, 8.1, 7.8], "period": "20260630", "rev_ttm": 16.4, "np_ttm": 2.0, "ocf_ttm": 4.3, "fcf_ttm": 0.9, "fcf_yield": 1.3, "ocf_yield": 6.2, "gm_median": 29.2, "gm_std": 4.1, "gm_stab": 0.86, "gm_chg_2022": 2.7, "npm_median": 11.0, "roe_median": 10.8, "commodity": false, "hard_ratio": 23.9, "fix_assets": 11.5, "goodwill_ratio": 0.0, "pb_calc": 2.84, "capex_dep": 6.35, "interest_debt": 7.0, "debt_ebitda": 2.8, "debt_ratio": 48.3, "debt_mv": 10.0, "payout": 46.9, "div_years": 4, "rev_cagr3": -10.4, "np_cagr3": -14.2, "rev_yoy": -5.3, "np_yoy": 9.3, "np_vol": 122.4, "loss_years": 0, "far_share": 86.0, "earn_yield": 2.8, "consensus_n": 3, "fwd_pe": 22.9, "fwd_pe2": 16.1, "fwd_g1": 56.0, "fwd_g2": 42.0, "peg": 0.55, "consensus_disp": null, "mainbz": [["碳纤维装备", 32.0], ["碳纤维生产线", 32.0], ["建筑建材专用设备", 7.0], ["建材机械", 7.0]], "ret_prev_year": 42.2, "ret_prev2_year": 9.3, "ret_ytd": -41.2, "ret_pivot": 30.7, "prev_year": "2025", "prev2_year": "2024", "ret_20": -2.3, "ret_60": -7.5, "ret_120": -30.3, "ret_250": -25.3, "mdd_250": -47.2, "vol_250": 42.7, "pos_52w": 56.3}, "S": {"duration": 59, "pricing": 54, "hard": 38, "bondness": 54}, "label": "中性", "tags": ["资本开支扩张期", "PEG<0.8"], "text": {"像什么": ["PE 35.8 倍、股息率 1.5%、毛利率近 5 年中位 29.2%、固定资产占比 24%、有息负债/EBITDA 2.8 倍:四轴都不突出。"], "为什么(不)算钱的替代品": "两条都不占:固定资产占比 24%,毛利率近 5 年中位 29.2%。", "加息期怎么走": "按行业与估值常规看,没有明确的利率方向性。", "四问": [["当前 FCF 能覆盖多少市值?", "自由现金流/市值 1.3%(经营现金流/市值 6.2%)。极低或为负。"], ["能否每年提价而不掉量?", "毛利率近 5 年中位 29.2%,稳定度 86%,2020→2022 成本通胀期毛利率变化 2.7 个百分点。取决于竞争。"], ["资产重置成本随通胀涨吗?", "固定资产 + 在建占总资产 24%,资本开支/折旧 6.35 倍。有一些。"], ["估值里多少来自 5 年后的故事?", "按 PE 35.8 倍 粗算,约 86%(1 − 5/PE)。>70%,把 5 年后的假设砍一半,这个股票值多少钱?"]], "价格行为": "近一年 -25%,最大回撤 -47%,年化波动 43%,现价在 52 周高点的 56%;近 20 / 60 / 120 日 -2% / -8% / -30%。", "行业对照": ["同申万二级「专用设备」205 家中位:PE 42.3 / 股息率 1.1% / 毛利率 26.3% / 固定资产占比 18% / 分红率 44%。", "精工科技:PE 比行业中位低 6.5倍;股息率 比行业中位高 0.4个百分点;毛利率 比行业中位高 2.9个百分点;固定资产占比 比行业中位高 5.9个百分点。"]}}