{"F": {"ts_code": "300816.SZ", "name": "艾可蓝", "mkt": "CN", "ccy": "元", "sw1": "汽车", "sw2": "汽车零部件", "sw3": "其他汽车零部件", "ind": "汽车零部件", "fin_source": "tushare", "market": "创业板", "list_date": "20200210", "is_fin": false, "roles": {"fin": false, "commodity": false, "precious": false, "regulated": false, "hard": true, "growth": true}, "province": null, "main_business": "", "introduction": "", "close": 64.0, "pe_ttm": 56.9209, "pb": 5.2431, "dv_ttm": 0.1861, "total_mv": 512000.0, "trade_date": "20260904", "years": ["20201231", "20211231", "20221231", "20231231", "20241231", "20251231"], "multi_year": true, "gm_series": [35.9, 23.1, 17.1, 18.2, 22.5, 25.4], "rev_series": [6.8, 8.7, 8.2, 10.5, 9.5, 10.8], "np_series": [1.3, 0.7, -0.1, 0.1, 0.5, 1.0], "roe_series": [23.5, 8.8, -1.3, 1.3, 6.1, 10.8], "period": "20260630", "rev_ttm": 12.7, "np_ttm": 0.9, "ocf_ttm": -0.3, "fcf_ttm": -0.8, "fcf_yield": -1.5, "ocf_yield": -0.6, "gm_median": 22.5, "gm_std": 3.1, "gm_stab": 0.86, "gm_chg_2022": -18.8, "npm_median": 6.1, "roe_median": 6.1, "commodity": false, "hard_ratio": 17.7, "fix_assets": 5.2, "goodwill_ratio": 0.0, "pb_calc": 5.24, "capex_dep": 1.26, "interest_debt": 14.7, "debt_ebitda": 8.2, "debt_ratio": 65.0, "debt_mv": 28.7, "payout": 14.2, "div_years": 3, "rev_cagr3": 9.8, "np_cagr3": null, "rev_yoy": 36.0, "np_yoy": -11.5, "np_vol": 172.4, "loss_years": 1, "far_share": 91.0, "earn_yield": 1.8, "consensus_n": 3, "fwd_pe": 32.2, "fwd_pe2": 21.2, "fwd_g1": 77.0, "fwd_g2": 52.0, "peg": 0.62, "consensus_disp": null, "mainbz": [["产品", 45.0], ["尾气净化产品", 36.0], ["其他业务", 9.0], ["其他", 9.0]], "ret_prev_year": 89.1, "ret_prev2_year": 4.0, "ret_ytd": 33.2, "ret_pivot": 262.3, "prev_year": "2025", "prev2_year": "2024", "ret_20": 22.5, "ret_60": -22.5, "ret_120": -5.5, "ret_250": 64.1, "mdd_250": -57.0, "vol_250": 67.3, "pos_52w": 64.2}, "S": {"duration": 76, "pricing": 45, "hard": 28, "bondness": 31}, "label": "中性", "tags": ["PEG<0.8"], "text": {"像什么": ["PE 56.9 倍、股息率 0.2%、毛利率近 5 年中位 22.5%、固定资产占比 18%、有息负债/EBITDA 8.2 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 18%,毛利率近 5 年中位 22.5%。", "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 -1.5%(经营现金流/市值 -0.6%)。极低或为负。"], ["能否每年提价而不掉量?", "毛利率近 5 年中位 22.5%,稳定度 86%,2020→2022 成本通胀期毛利率变化 -18.8 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 18%,资本开支/折旧 1.26 倍。有一些。"], ["估值里多少来自 5 年后的故事?", "按 PE 56.9 倍 粗算,约 91%(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 64%,最大回撤 -57%,年化波动 67%,现价在 52 周高点的 64%;近 20 / 60 / 120 日 22% / -22% / -6%。", "行业对照": ["同申万二级「汽车零部件」274 家中位:PE 30.2 / 股息率 1.1% / 毛利率 21.4% / 固定资产占比 26% / 分红率 35%。", "艾可蓝:PE 比行业中位高 26.7倍;股息率 比行业中位低 0.9个百分点;毛利率 比行业中位高 1.1个百分点;固定资产占比 比行业中位低 7.8个百分点。"]}}