{"F": {"ts_code": "300549.SZ", "name": "优德精密", "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": "创业板", "list_date": "20160930", "is_fin": false, "roles": {"fin": false, "commodity": false, "precious": false, "regulated": false, "hard": true, "growth": true}, "province": null, "main_business": "", "introduction": "", "close": 14.67, "pe_ttm": 293.8216, "pb": 3.5723, "dv_ttm": 0.3408, "total_mv": 195609.78, "trade_date": "20260904", "years": ["20201231", "20211231", "20221231", "20231231", "20241231", "20251231"], "multi_year": true, "gm_series": [29.3, 30.7, 29.1, 28.6, 27.3, 26.1], "rev_series": [3.1, 3.9, 4.0, 3.4, 3.5, 3.2], "np_series": [0.2, 0.4, 0.3, 0.2, 0.1, 0.1], "roe_series": [4.4, 7.2, 5.2, 3.2, 2.5, 1.4], "period": "20260630", "rev_ttm": 3.1, "np_ttm": 0.1, "ocf_ttm": 0.8, "fcf_ttm": 0.7, "fcf_yield": 3.5, "ocf_yield": 3.9, "gm_median": 28.6, "gm_std": 1.6, "gm_stab": 0.95, "gm_chg_2022": -0.1, "npm_median": 5.1, "roe_median": 3.2, "commodity": false, "hard_ratio": 25.1, "fix_assets": 1.8, "goodwill_ratio": 0.0, "pb_calc": 3.57, "capex_dep": 0.37, "interest_debt": 0.5, "debt_ebitda": 1.5, "debt_ratio": 22.7, "debt_mv": 2.4, "payout": 76.9, "div_years": 5, "rev_cagr3": -7.4, "np_cagr3": -34.7, "rev_yoy": -1.0, "np_yoy": -27.3, "np_vol": 41.5, "loss_years": 0, "far_share": 98.0, "earn_yield": 0.3, "consensus_n": 0, "fwd_pe": null, "fwd_pe2": null, "fwd_g1": null, "fwd_g2": null, "peg": null, "consensus_disp": null, "mainbz": [["产品", 50.0], ["精密模具零部件", 42.0], ["自动化设备零部件", 7.0], ["制药模具及医疗器材零部件", 1.0]], "ret_prev_year": 15.5, "ret_prev2_year": -14.1, "ret_ytd": -22.0, "ret_pivot": 16.0, "prev_year": "2025", "prev2_year": "2024", "ret_20": 6.2, "ret_60": 0.5, "ret_120": -20.1, "ret_250": -28.7, "mdd_250": -43.6, "vol_250": 38.5, "pos_52w": 70.9}, "S": {"duration": 100, "pricing": 55, "hard": 40, "bondness": 53}, "label": "中性", "tags": [], "text": {"像什么": ["PE 293.8 倍、股息率 0.3%、毛利率近 5 年中位 28.6%、固定资产占比 25%、有息负债/EBITDA 1.5 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 25%,毛利率近 5 年中位 28.6%。", "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 3.5%(经营现金流/市值 3.9%)。一般。"], ["能否每年提价而不掉量?", "毛利率近 5 年中位 28.6%,稳定度 95%,2020→2022 成本通胀期毛利率变化 -0.1 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 25%,资本开支/折旧 0.37 倍。有一些。"], ["估值里多少来自 5 年后的故事?", "按 PE 293.8 倍 粗算,约 98%(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 -29%,最大回撤 -44%,年化波动 38%,现价在 52 周高点的 71%;近 20 / 60 / 120 日 6% / 0% / -20%。", "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%。", "优德精密:PE 比行业中位高 251.5倍;股息率 比行业中位低 0.8个百分点;毛利率 比行业中位高 2.3个百分点;固定资产占比 比行业中位高 7.1个百分点。"]}}