{"F": {"ts_code": "002247.SZ", "name": "聚力文化", "mkt": "CN", "ccy": "元", "sw1": "建筑材料", "sw2": "装修建材", "sw3": "其他建材", "ind": "装修建材", "fin_source": "tushare", "market": "主板", "list_date": "20080612", "is_fin": false, "roles": {"fin": false, "commodity": false, "precious": false, "regulated": false, "hard": true, "growth": false}, "province": null, "main_business": "", "introduction": "", "close": 2.46, "pe_ttm": 52.302, "pb": 3.047, "dv_ttm": null, "total_mv": 209314.02, "trade_date": "20260904", "years": ["20201231", "20211231", "20221231", "20231231", "20241231", "20251231"], "multi_year": true, "gm_series": [25.5, 19.9, 19.6, 22.0, 20.2, 22.0], "rev_series": [10.0, 11.6, 9.3, 9.5, 8.4, 7.9], "np_series": [1.7, 0.8, 0.5, -3.4, 2.2, 0.5], "roe_series": [31.6, 12.5, 7.4, -58.6, 42.4, 7.5], "period": "20260630", "rev_ttm": 8.0, "np_ttm": 0.4, "ocf_ttm": 0.8, "fcf_ttm": 0.7, "fcf_yield": 3.3, "ocf_yield": 3.6, "gm_median": 20.2, "gm_std": 1.0, "gm_stab": 0.95, "gm_chg_2022": -5.9, "npm_median": 5.9, "roe_median": 7.5, "commodity": false, "hard_ratio": 25.8, "fix_assets": 2.4, "goodwill_ratio": 0.0, "pb_calc": 3.05, "capex_dep": 0.22, "interest_debt": 0.1, "debt_ebitda": 0.1, "debt_ratio": 26.8, "debt_mv": 0.4, "payout": null, "div_years": 0, "rev_cagr3": -5.3, "np_cagr3": -3.0, "rev_yoy": 0.5, "np_yoy": -34.9, "np_vol": 306.4, "loss_years": 1, "far_share": 90.0, "earn_yield": 1.9, "consensus_n": 0, "fwd_pe": null, "fwd_pe2": null, "fwd_g1": null, "fwd_g2": null, "peg": null, "consensus_disp": null, "mainbz": [["装饰纸", 35.0], ["PVC装饰材料", 21.0], ["装饰纸饰面板", 21.0], ["浸渍纸", 20.0]], "ret_prev_year": 10.2, "ret_prev2_year": 9.0, "ret_ytd": -12.5, "ret_pivot": 62.9, "prev_year": "2025", "prev2_year": "2024", "ret_20": 8.4, "ret_60": 4.7, "ret_120": -19.1, "ret_250": -13.4, "mdd_250": -39.1, "vol_250": 35.6, "pos_52w": 76.4}, "S": {"duration": 73, "pricing": 47, "hard": 41, "bondness": 20}, "label": "中性", "tags": [], "text": {"像什么": ["PE 52.3 倍、股息率 —、毛利率近 5 年中位 20.2%、固定资产占比 26%、有息负债/EBITDA 0.1 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 26%,毛利率近 5 年中位 20.2%。", "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 3.3%(经营现金流/市值 3.6%)。一般。"], ["能否每年提价而不掉量?", "毛利率近 5 年中位 20.2%,稳定度 95%,2020→2022 成本通胀期毛利率变化 -5.9 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 26%,资本开支/折旧 0.22 倍。有一些。"], ["估值里多少来自 5 年后的故事?", "按 PE 52.3 倍 粗算,约 90%(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 -13%,最大回撤 -39%,年化波动 36%,现价在 52 周高点的 76%;近 20 / 60 / 120 日 8% / 5% / -19%。", "行业对照": ["同申万二级「装修建材」39 家中位:PE 36.1 / 股息率 1.6% / 毛利率 20.7% / 固定资产占比 21% / 分红率 51%。", "聚力文化:PE 比行业中位高 16.2倍;股息率 ;毛利率 比行业中位低 0.5个百分点;固定资产占比 比行业中位高 5.0个百分点。"]}}