{"F": {"ts_code": "600742.SH", "name": "富维股份", "mkt": "CN", "ccy": "元", "sw1": "汽车", "sw2": "汽车零部件", "sw3": "车身附件及饰件", "ind": "汽车零部件", "fin_source": "tushare", "market": "主板", "list_date": "19960826", "is_fin": false, "roles": {"fin": false, "commodity": false, "precious": false, "regulated": false, "hard": true, "growth": true}, "province": null, "main_business": "", "introduction": "", "close": 7.76, "pe_ttm": 14.7822, "pb": 0.6732, "dv_ttm": 6.701, "total_mv": 576612.9304, "trade_date": "20260904", "years": ["20201231", "20211231", "20221231", "20231231", "20241231", "20251231"], "multi_year": true, "gm_series": [9.8, 9.6, 9.6, 10.1, 10.9, 10.8], "rev_series": [195.2, 205.4, 199.7, 207.7, 196.4, 198.7], "np_series": [6.2, 6.6, 5.4, 5.2, 5.1, 4.7], "roe_series": [10.5, 10.1, 7.4, 6.5, 6.1, 5.5], "period": "20260630", "rev_ttm": 177.1, "np_ttm": 3.9, "ocf_ttm": 19.9, "fcf_ttm": 11.5, "fcf_yield": 20.0, "ocf_yield": 34.6, "gm_median": 10.1, "gm_std": 0.5, "gm_stab": 0.95, "gm_chg_2022": -0.2, "npm_median": 3.8, "roe_median": 6.5, "commodity": false, "hard_ratio": 15.4, "fix_assets": 33.3, "goodwill_ratio": 0.0, "pb_calc": 0.67, "capex_dep": 1.46, "interest_debt": 9.1, "debt_ebitda": 0.7, "debt_ratio": 53.6, "debt_mv": 15.8, "payout": 51.1, "div_years": 5, "rev_cagr3": -0.2, "np_cagr3": -5.1, "rev_yoy": -23.2, "np_yoy": -28.3, "np_vol": 7.9, "loss_years": 0, "far_share": 66.0, "earn_yield": 6.8, "consensus_n": 2, "fwd_pe": 10.3, "fwd_pe2": 9.2, "fwd_g1": 44.0, "fwd_g2": 12.0, "peg": 0.86, "consensus_disp": null, "mainbz": [["产品", 40.0], ["智能座舱产品", 20.0], ["汽车外饰件", 13.0], ["智能外饰产品", 13.0]], "ret_prev_year": 22.3, "ret_prev2_year": -5.3, "ret_ytd": -20.5, "ret_pivot": 14.6, "prev_year": "2025", "prev2_year": "2024", "ret_20": 2.9, "ret_60": -2.0, "ret_120": -25.2, "ret_250": -22.6, "mdd_250": -35.6, "vol_250": 28.5, "pos_52w": 71.0}, "S": {"duration": 31, "pricing": 46, "hard": 25, "bondness": 70}, "label": "现金流红利", "tags": ["股息率≥4%"], "text": {"像什么": ["分红率 51%、股息率 6.7%、营收 3 年复合 -0.2%、有息负债/EBITDA 0.7 倍:红利底仓,但不靠杠杆。"], "为什么(不)算钱的替代品": "两条都不占:固定资产占比 15%,毛利率近 5 年中位 10.1%。", "加息期怎么走": "船票:加息期底仓。放水信号出现后按 7:3 → 5:5 → 3:7 逐步让位给科技。", "四问": [["当前 FCF 能覆盖多少市值?", "自由现金流/市值 20.0%(经营现金流/市值 34.6%)。覆盖高。"], ["能否每年提价而不掉量?", "毛利率近 5 年中位 10.1%,稳定度 95%,2020→2022 成本通胀期毛利率变化 -0.2 个百分点。不能。"], ["资产重置成本随通胀涨吗?", "固定资产 + 在建占总资产 15%,资本开支/折旧 1.46 倍。有一些。"], ["估值里多少来自 5 年后的故事?", "按 PE 14.8 倍 粗算,约 66%(1 − 5/PE)。中等。"]], "价格行为": "近一年 -23%,最大回撤 -36%,年化波动 28%,现价在 52 周高点的 71%;近 20 / 60 / 120 日 3% / -2% / -25%。", "行业对照": ["同申万二级「汽车零部件」274 家中位:PE 30.2 / 股息率 1.1% / 毛利率 21.4% / 固定资产占比 26% / 分红率 35%。", "富维股份:PE 比行业中位低 15.4倍;股息率 比行业中位高 5.6个百分点;毛利率 比行业中位低 11.3个百分点;固定资产占比 比行业中位低 10.1个百分点。"]}}