{"F": {"ts_code": "002552.SZ", "name": "宝鼎科技", "mkt": "CN", "ccy": "元", "sw1": "电子", "sw2": "元件", "sw3": "印制电路板", "ind": "元件", "fin_source": "tushare", "market": "主板", "list_date": "20110225", "is_fin": false, "roles": {"fin": false, "commodity": false, "precious": false, "regulated": false, "hard": false, "growth": true}, "province": null, "main_business": "", "introduction": "", "close": 45.96, "pe_ttm": 74.8513, "pb": 10.8862, "dv_ttm": 0.4352, "total_mv": 1783180.4388, "trade_date": "20260904", "years": ["20201231", "20211231", "20221231", "20231231", "20241231", "20251231"], "multi_year": true, "gm_series": [15.7, 13.2, 8.9, 12.0, 14.6, 16.6], "rev_series": [3.7, 3.5, 13.8, 30.4, 28.9, 31.5], "np_series": [0.1, 0.1, -0.3, 1.9, 2.5, 1.2], "roe_series": [1.1, 0.9, -2.5, 10.1, 16.7, 8.4], "period": "20260630", "rev_ttm": 39.1, "np_ttm": 2.4, "ocf_ttm": 4.5, "fcf_ttm": 4.2, "fcf_yield": 2.3, "ocf_yield": 2.5, "gm_median": 13.2, "gm_std": 2.6, "gm_stab": 0.8, "gm_chg_2022": -6.8, "npm_median": 3.3, "roe_median": 8.4, "commodity": false, "hard_ratio": 27.6, "fix_assets": 15.6, "goodwill_ratio": 0.0, "pb_calc": 10.89, "capex_dep": 0.14, "interest_debt": 17.8, "debt_ebitda": 2.7, "debt_ratio": 60.4, "debt_mv": 10.0, "payout": 44.1, "div_years": 2, "rev_cagr3": 31.6, "np_cagr3": null, "rev_yoy": 54.7, "np_yoy": 518.6, "np_vol": 278.9, "loss_years": 1, "far_share": 93.0, "earn_yield": 1.3, "consensus_n": 0, "fwd_pe": null, "fwd_pe2": null, "fwd_g1": null, "fwd_g2": null, "peg": null, "consensus_disp": null, "mainbz": [["覆铜板", 66.0], ["铜箔", 21.0], ["成品金", 13.0], ["其他业务", 1.0]], "ret_prev_year": 27.8, "ret_prev2_year": -7.4, "ret_ytd": 178.4, "ret_pivot": 339.4, "prev_year": "2025", "prev2_year": "2024", "ret_20": -3.4, "ret_60": -13.9, "ret_120": 143.0, "ret_250": 187.8, "mdd_250": -58.5, "vol_250": 76.0, "pos_52w": 59.9}, "S": {"duration": 85, "pricing": 38, "hard": 44, "bondness": 26}, "label": "中性", "tags": [], "text": {"像什么": ["PE 74.9 倍、股息率 0.4%、毛利率近 5 年中位 13.2%、固定资产占比 28%、有息负债/EBITDA 2.7 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 28%,毛利率近 5 年中位 13.2%。", "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 2.3%(经营现金流/市值 2.5%)。一般。"], ["能否每年提价而不掉量?", "毛利率近 5 年中位 13.2%,稳定度 80%,2020→2022 成本通胀期毛利率变化 -6.8 个百分点。不能。"], ["资产重置成本随通胀涨吗?", "固定资产 + 在建占总资产 28%,资本开支/折旧 0.14 倍。有一些。"], ["估值里多少来自 5 年后的故事?", "按 PE 74.9 倍 粗算,约 93%(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 188%,最大回撤 -58%,年化波动 76%,现价在 52 周高点的 60%;近 20 / 60 / 120 日 -3% / -14% / 143%。", "行业对照": ["同申万二级「元件」67 家中位:PE 65.2 / 股息率 0.5% / 毛利率 21.3% / 固定资产占比 36% / 分红率 44%。", "宝鼎科技:PE 比行业中位高 9.7倍;股息率 比行业中位低 0.1个百分点;毛利率 比行业中位低 8.1个百分点;固定资产占比 比行业中位低 8.3个百分点。"]}}