{"F": {"ts_code": "300824.SZ", "name": "北鼎股份", "mkt": "CN", "ccy": "元", "sw1": "家用电器", "sw2": "小家电", "sw3": "厨房小家电", "ind": "小家电", "fin_source": "tushare", "market": "创业板", "list_date": "20200619", "is_fin": false, "roles": {"fin": false, "commodity": false, "precious": false, "regulated": false, "hard": true, "growth": false}, "province": null, "main_business": "", "introduction": "", "close": 7.85, "pe_ttm": 24.319, "pb": 3.3629, "dv_ttm": 2.5324, "total_mv": 256178.2345, "trade_date": "20260904", "years": ["20201231", "20211231", "20221231", "20231231", "20241231", "20251231"], "multi_year": true, "gm_series": [51.4, 49.5, 48.7, 50.7, 46.9, 50.0], "rev_series": [7.0, 8.5, 8.0, 6.7, 7.5, 9.5], "np_series": [1.0, 1.1, 0.5, 0.7, 0.7, 1.1], "roe_series": [20.4, 15.8, 6.6, 9.8, 9.6, 15.6], "period": "20260630", "rev_ttm": 10.1, "np_ttm": 1.1, "ocf_ttm": 0.9, "fcf_ttm": 0.8, "fcf_yield": 3.0, "ocf_yield": 3.6, "gm_median": 49.5, "gm_std": 1.3, "gm_stab": 0.97, "gm_chg_2022": -2.7, "npm_median": 10.7, "roe_median": 9.8, "commodity": false, "hard_ratio": 11.8, "fix_assets": 1.1, "goodwill_ratio": 0.0, "pb_calc": 3.36, "capex_dep": 1.44, "interest_debt": 0.5, "debt_ebitda": 0.3, "debt_ratio": 21.2, "debt_mv": 1.9, "payout": 91.4, "div_years": 5, "rev_cagr3": 5.7, "np_cagr3": 34.2, "rev_yoy": 14.7, "np_yoy": -14.7, "np_vol": 42.8, "loss_years": 0, "far_share": 79.0, "earn_yield": 4.1, "consensus_n": 12, "fwd_pe": 20.6, "fwd_pe2": 17.6, "fwd_g1": 18.0, "fwd_g2": 17.0, "peg": 1.21, "consensus_disp": null, "mainbz": [["“北鼎BUYDEEM”自主品牌产品", 23.0], ["“北鼎BUYDEEM”自主品牌", 23.0], ["“北鼎BUYDEEM”自主品牌：电器类", 16.0], ["“北鼎BUYDEEM”自主品牌：电器类：蒸炖锅", 8.0]], "ret_prev_year": 18.5, "ret_prev2_year": 12.3, "ret_ytd": -29.3, "ret_pivot": 18.1, "prev_year": "2025", "prev2_year": "2024", "ret_20": 2.4, "ret_60": -2.1, "ret_120": -26.1, "ret_250": -42.8, "mdd_250": -48.2, "vol_250": 28.5, "pos_52w": 58.5}, "S": {"duration": 46, "pricing": 64, "hard": 19, "bondness": 62}, "label": "中性", "tags": [], "text": {"像什么": ["PE 24.3 倍、股息率 2.5%、毛利率近 5 年中位 49.5%、固定资产占比 12%、有息负债/EBITDA 0.3 倍:四轴都不突出。"], "为什么(不)算钱的替代品": "只占定价权一条(毛利率 49.5%),硬资产占比 12%。分子能跟上通胀,但没有重置成本对冲;按'定价权·品牌'看,不按硬资产看。", "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 3.0%(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 49.5%,稳定度 97%,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 12%,资本开支/折旧 1.44 倍。没有资产可言。"], ["估值里多少来自 5 年后的故事?", "按 PE 24.3 倍 粗算,约 79%(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 -43%,最大回撤 -48%,年化波动 28%,现价在 52 周高点的 58%;近 20 / 60 / 120 日 2% / -2% / -26%。", "行业对照": ["同申万二级「小家电」23 家中位:PE 50.5 / 股息率 1.8% / 毛利率 27.6% / 固定资产占比 22% / 分红率 50%。", "北鼎股份:PE 比行业中位低 26.2倍;股息率 比行业中位高 0.7个百分点;毛利率 比行业中位高 21.9个百分点;固定资产占比 比行业中位低 9.9个百分点。"]}}