{"F": {"ts_code": "600714.SH", "name": "金瑞矿业", "mkt": "CN", "ccy": "元", "sw1": "基础化工", "sw2": "化学原料", "sw3": "无机盐", "ind": "化学原料", "fin_source": "tushare", "market": "主板", "list_date": "19960606", "is_fin": false, "roles": {"fin": false, "commodity": false, "precious": false, "regulated": false, "hard": true, "growth": false}, "province": null, "main_business": "", "introduction": "", "close": 21.48, "pe_ttm": 556.4765, "pb": 8.0305, "dv_ttm": 0.2095, "total_mv": 619002.6924, "trade_date": "20260904", "years": ["20201231", "20211231", "20221231", "20231231", "20241231", "20251231"], "multi_year": true, "gm_series": [11.7, 36.6, 25.7, 11.9, 20.1, 24.7], "rev_series": [1.6, 3.6, 3.7, 2.7, 3.4, 3.3], "np_series": [0.0, 0.8, 0.5, 0.1, 0.4, 0.3], "roe_series": [0.6, 11.7, 7.7, 1.1, 4.7, 4.1], "period": "20260630", "rev_ttm": 3.0, "np_ttm": 0.1, "ocf_ttm": 0.3, "fcf_ttm": 0.3, "fcf_yield": 0.4, "ocf_yield": 0.5, "gm_median": 24.7, "gm_std": 8.1, "gm_stab": 0.67, "gm_chg_2022": 14.0, "npm_median": 10.2, "roe_median": 4.7, "commodity": false, "hard_ratio": 10.9, "fix_assets": 0.9, "goodwill_ratio": 0.0, "pb_calc": 8.03, "capex_dep": 0.41, "interest_debt": 0.0, "debt_ebitda": 0.0, "debt_ratio": 8.3, "debt_mv": 0.0, "payout": 72.9, "div_years": 3, "rev_cagr3": -3.7, "np_cagr3": -17.7, "rev_yoy": -15.8, "np_yoy": -53.7, "np_vol": 816.6, "loss_years": 0, "far_share": 99.0, "earn_yield": 0.2, "consensus_n": 0, "fwd_pe": null, "fwd_pe2": null, "fwd_g1": null, "fwd_g2": null, "peg": null, "consensus_disp": null, "mainbz": [["产品", 50.0], ["锶盐产品", 18.0], ["其他合金产品", 12.0], ["氧化锶", 8.0]], "ret_prev_year": 27.0, "ret_prev2_year": 2.3, "ret_ytd": 75.2, "ret_pivot": 215.4, "prev_year": "2025", "prev2_year": "2024", "ret_20": 39.5, "ret_60": -26.5, "ret_120": -13.6, "ret_250": 69.2, "mdd_250": -61.8, "vol_250": 65.6, "pos_52w": 65.3}, "S": {"duration": 100, "pricing": 47, "hard": 17, "bondness": 47}, "label": "中性", "tags": [], "text": {"像什么": ["PE 556.5 倍、股息率 0.2%、毛利率近 5 年中位 24.7%、固定资产占比 11%、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 11%,毛利率近 5 年中位 24.7%。", "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 0.4%(经营现金流/市值 0.5%)。极低或为负。"], ["能否每年提价而不掉量?", "毛利率近 5 年中位 24.7%,稳定度 67%,2020→2022 成本通胀期毛利率变化 14.0 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 11%,资本开支/折旧 0.41 倍。没有资产可言。"], ["估值里多少来自 5 年后的故事?", "按 PE 556.5 倍 粗算,约 99%(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 69%,最大回撤 -62%,年化波动 66%,现价在 52 周高点的 65%;近 20 / 60 / 120 日 40% / -26% / -14%。", "行业对照": ["同申万二级「化学原料」59 家中位:PE 35.9 / 股息率 0.9% / 毛利率 16.8% / 固定资产占比 47% / 分红率 40%。", "金瑞矿业:PE 比行业中位高 520.6倍;股息率 比行业中位低 0.7个百分点;毛利率 比行业中位高 7.9个百分点;固定资产占比 比行业中位低 36.5个百分点。"]}}