{"F": {"ts_code": "300992.SZ", "name": "泰福泵业", "mkt": "CN", "ccy": "元", "sw1": "机械设备", "sw2": "通用设备", "sw3": "其他通用设备", "ind": "通用设备", "fin_source": "tushare", "market": "创业板", "list_date": "20210525", "is_fin": false, "roles": {"fin": false, "commodity": false, "precious": false, "regulated": false, "hard": true, "growth": true}, "province": null, "main_business": "", "introduction": "", "close": 25.94, "pe_ttm": null, "pb": 2.8102, "dv_ttm": 0.2844, "total_mv": 247209.497, "trade_date": "20260904", "years": ["20201231", "20211231", "20221231", "20231231", "20241231", "20251231"], "multi_year": true, "gm_series": [29.7, 20.5, 20.6, 23.1, 21.4, 16.6], "rev_series": [4.2, 5.6, 5.5, 7.1, 7.4, 9.4], "np_series": [0.7, 0.6, 0.6, 0.5, 0.1, 0.2], "roe_series": [16.9, 10.8, 8.3, 6.6, 1.5, 2.1], "period": "20260630", "rev_ttm": 9.5, "np_ttm": -0.0, "ocf_ttm": 1.4, "fcf_ttm": 1.0, "fcf_yield": 4.1, "ocf_yield": 5.5, "gm_median": 20.6, "gm_std": 2.1, "gm_stab": 0.9, "gm_chg_2022": -9.1, "npm_median": 7.5, "roe_median": 6.6, "commodity": false, "hard_ratio": 28.7, "fix_assets": 5.5, "goodwill_ratio": 0.0, "pb_calc": 2.69, "capex_dep": 0.69, "interest_debt": 4.3, "debt_ebitda": 4.9, "debt_ratio": 51.8, "debt_mv": 17.6, "payout": 37.5, "div_years": 5, "rev_cagr3": 19.1, "np_cagr3": -32.8, "rev_yoy": 2.8, "np_yoy": -87.7, "np_vol": 39.4, "loss_years": 0, "far_share": 100, "earn_yield": null, "consensus_n": 0, "fwd_pe": null, "fwd_pe2": null, "fwd_g1": null, "fwd_g2": null, "peg": null, "consensus_disp": null, "mainbz": [["产品", 45.0], ["陆上泵", 22.0], ["井用潜水泵", 7.0], ["小型潜水泵", 7.0]], "ret_prev_year": 1.0, "ret_prev2_year": 24.8, "ret_ytd": -3.7, "ret_pivot": 84.5, "prev_year": "2025", "prev2_year": "2024", "ret_20": 8.4, "ret_60": 1.2, "ret_120": -20.8, "ret_250": -13.9, "mdd_250": -52.4, "vol_250": 51.4, "pos_52w": 62.0}, "S": {"duration": 100, "pricing": 46, "hard": 46, "bondness": 30}, "label": "中性", "tags": [], "text": {"像什么": ["PE —、股息率 0.3%、毛利率近 5 年中位 20.6%、固定资产占比 29%、有息负债/EBITDA 4.9 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 29%,毛利率近 5 年中位 20.6%。", "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 4.1%(经营现金流/市值 5.5%)。一般。"], ["能否每年提价而不掉量?", "毛利率近 5 年中位 20.6%,稳定度 90%,2020→2022 成本通胀期毛利率变化 -9.1 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 29%,资本开支/折旧 0.69 倍。有一些。"], ["估值里多少来自 5 年后的故事?", "按 PE 为负 粗算,约 100%(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 -14%,最大回撤 -52%,年化波动 51%,现价在 52 周高点的 62%;近 20 / 60 / 120 日 8% / 1% / -21%。", "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%。", "泰福泵业:PE ;股息率 比行业中位低 0.5个百分点;毛利率 比行业中位低 7.9个百分点;固定资产占比 比行业中位高 7.9个百分点。"]}}