{"F": {"ts_code": "300990.SZ", "name": "同飞股份", "mkt": "CN", "ccy": "元", "sw1": "机械设备", "sw2": "通用设备", "sw3": "制冷空调设备", "ind": "通用设备", "fin_source": "tushare", "market": "创业板", "list_date": "20210512", "is_fin": false, "roles": {"fin": false, "commodity": false, "precious": false, "regulated": false, "hard": true, "growth": true}, "province": null, "main_business": "", "introduction": "", "close": 96.4, "pe_ttm": 64.4826, "pb": 7.5366, "dv_ttm": 0.5167, "total_mv": 1650528.024, "trade_date": "20260904", "years": ["20201231", "20211231", "20221231", "20231231", "20241231", "20251231"], "multi_year": true, "gm_series": [37.9, 29.0, 27.3, 27.5, 22.1, 22.3], "rev_series": [6.1, 8.3, 10.1, 18.5, 21.6, 28.7], "np_series": [1.2, 1.2, 1.3, 1.8, 1.5, 2.5], "roe_series": [30.6, 11.9, 8.0, 10.7, 8.4, 12.7], "period": "20260630", "rev_ttm": 32.1, "np_ttm": 2.6, "ocf_ttm": 5.3, "fcf_ttm": 5.1, "fcf_yield": 3.1, "ocf_yield": 3.2, "gm_median": 27.3, "gm_std": 2.9, "gm_stab": 0.89, "gm_chg_2022": -10.6, "npm_median": 9.9, "roe_median": 10.7, "commodity": false, "hard_ratio": 20.6, "fix_assets": 6.1, "goodwill_ratio": 0.0, "pb_calc": 7.54, "capex_dep": 0.38, "interest_debt": 0.1, "debt_ebitda": 0.0, "debt_ratio": 25.6, "debt_mv": 0.0, "payout": 46.3, "div_years": 5, "rev_cagr3": 41.7, "np_cagr3": 25.5, "rev_yoy": 27.3, "np_yoy": 2.5, "np_vol": 30.2, "loss_years": 0, "far_share": 92.0, "earn_yield": 1.6, "consensus_n": 7, "fwd_pe": 38.4, "fwd_pe2": 24.9, "fwd_g1": 68.0, "fwd_g2": 54.0, "peg": 0.71, "consensus_disp": null, "mainbz": [["产品", 48.0], ["液体恒温设备", 32.0], ["电气箱恒温装置", 7.0], ["其他主营业务", 4.0]], "ret_prev_year": 122.5, "ret_prev2_year": -6.3, "ret_ytd": 7.5, "ret_pivot": 227.8, "prev_year": "2025", "prev2_year": "2024", "ret_20": 30.5, "ret_60": 21.6, "ret_120": 9.8, "ret_250": 35.5, "mdd_250": -49.9, "vol_250": 84.5, "pos_52w": 80.1}, "S": {"duration": 80, "pricing": 49, "hard": 33, "bondness": 19}, "label": "中性", "tags": ["PEG<0.8"], "text": {"像什么": ["PE 64.5 倍、股息率 0.5%、毛利率近 5 年中位 27.3%、固定资产占比 21%、有息负债/EBITDA 0.0 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 21%,毛利率近 5 年中位 27.3%。", "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 3.1%(经营现金流/市值 3.2%)。一般。"], ["能否每年提价而不掉量?", "毛利率近 5 年中位 27.3%,稳定度 89%,2020→2022 成本通胀期毛利率变化 -10.6 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 21%,资本开支/折旧 0.38 倍。有一些。"], ["估值里多少来自 5 年后的故事?", "按 PE 64.5 倍 粗算,约 92%(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 36%,最大回撤 -50%,年化波动 84%,现价在 52 周高点的 80%;近 20 / 60 / 120 日 30% / 22% / 10%。", "行业对照": ["同申万二级「通用设备」248 家中位:PE 50.6 / 股息率 0.8% / 毛利率 28.5% / 固定资产占比 21% / 分红率 45%。", "同飞股份:PE 比行业中位高 13.9倍;股息率 比行业中位低 0.3个百分点;毛利率 比行业中位低 1.2个百分点;固定资产占比 比行业中位低 0.2个百分点。"]}}