{"F": {"ts_code": "301071.SZ", "name": "力量钻石", "mkt": "CN", "ccy": "元", "sw1": "基础化工", "sw2": "非金属材料Ⅱ", "sw3": "非金属材料Ⅲ", "ind": "非金属材料Ⅱ", "fin_source": "tushare", "market": "创业板", "list_date": "20210924", "is_fin": false, "roles": {"fin": false, "commodity": false, "precious": false, "regulated": false, "hard": true, "growth": false}, "province": null, "main_business": "", "introduction": "", "close": 60.01, "pe_ttm": 88.0248, "pb": 2.8684, "dv_ttm": 0.6666, "total_mv": 1526956.2503, "trade_date": "20260904", "years": ["20201231", "20211231", "20221231", "20231231", "20241231", "20251231"], "multi_year": true, "gm_series": [43.6, 64.1, 63.3, 51.7, 28.9, 22.2], "rev_series": [2.4, 5.0, 9.1, 7.5, 6.9, 6.3], "np_series": [0.7, 2.4, 4.6, 3.6, 2.0, 1.1], "roe_series": [17.9, 34.1, 14.8, 6.9, 3.8, 2.1], "period": "20260630", "rev_ttm": 8.3, "np_ttm": 1.7, "ocf_ttm": 4.2, "fcf_ttm": -0.0, "fcf_yield": -0.0, "ocf_yield": 2.8, "gm_median": 51.7, "gm_std": 17.4, "gm_stab": 0.66, "gm_chg_2022": 19.7, "npm_median": 48.1, "roe_median": 6.9, "commodity": false, "hard_ratio": 33.2, "fix_assets": 22.0, "goodwill_ratio": 0.0, "pb_calc": 2.87, "capex_dep": 1.91, "interest_debt": 6.1, "debt_ebitda": 1.6, "debt_ratio": 19.5, "debt_mv": 4.0, "payout": 44.3, "div_years": 5, "rev_cagr3": -11.3, "np_cagr3": -38.1, "rev_yoy": 80.9, "np_yoy": 247.6, "np_vol": 106.1, "loss_years": 0, "far_share": 94.0, "earn_yield": 1.1, "consensus_n": 2, "fwd_pe": 65.2, "fwd_pe2": 36.4, "fwd_g1": 35.0, "fwd_g2": 79.0, "peg": 0.83, "consensus_disp": null, "mainbz": [["大颗粒金刚石", 38.0], ["培育钻石", 38.0], ["其他业务", 7.0], ["金刚石单晶", 6.0]], "ret_prev_year": -0.7, "ret_prev2_year": 15.0, "ret_ytd": 69.3, "ret_pivot": 187.3, "prev_year": "2025", "prev2_year": "2024", "ret_20": -2.6, "ret_60": -15.1, "ret_120": 19.8, "ret_250": 91.2, "mdd_250": -53.0, "vol_250": 74.5, "pos_52w": 58.3}, "S": {"duration": 89, "pricing": 60, "hard": 53, "bondness": 44}, "label": "中性", "tags": [], "text": {"像什么": ["PE 88.0 倍、股息率 0.7%、毛利率近 5 年中位 51.7%、固定资产占比 33%、有息负债/EBITDA 1.6 倍:四轴都不突出。"], "为什么(不)算钱的替代品": "只占硬资产一条(占比 33%),没有定价权:毛利率近 5 年中位 51.7%,稳定度 66%。通胀来了成本转嫁不出去,利润跟不上通胀。这是陷阱不是保护。", "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 -0.0%(经营现金流/市值 2.8%)。极低或为负。"], ["能否每年提价而不掉量?", "毛利率近 5 年中位 51.7%,稳定度 66%,2020→2022 成本通胀期毛利率变化 19.7 个百分点。能。"], ["资产重置成本随通胀涨吗?", "固定资产 + 在建占总资产 33%,资本开支/折旧 1.91 倍。涨。"], ["估值里多少来自 5 年后的故事?", "按 PE 88.0 倍 粗算,约 94%(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 91%,最大回撤 -53%,年化波动 74%,现价在 52 周高点的 58%;近 20 / 60 / 120 日 -3% / -15% / 20%。", "行业对照": ["同申万二级「非金属材料Ⅱ」14 家中位:PE 54.2 / 股息率 0.9% / 毛利率 26.6% / 固定资产占比 35% / 分红率 41%。", "力量钻石:PE 比行业中位高 33.8倍;股息率 比行业中位低 0.2个百分点;毛利率 比行业中位高 25.1个百分点;固定资产占比 比行业中位低 2.0个百分点。"]}}