{"F": {"ts_code": "601007.SH", "name": "金陵饭店", "mkt": "CN", "ccy": "元", "sw1": "社会服务", "sw2": "酒店餐饮", "sw3": "酒店", "ind": "酒店餐饮", "fin_source": "tushare", "market": "主板", "list_date": "20070406", "is_fin": false, "roles": {"fin": false, "commodity": false, "precious": false, "regulated": false, "hard": false, "growth": true}, "province": null, "main_business": "", "introduction": "", "close": 7.1, "pe_ttm": 41.3606, "pb": 1.7509, "dv_ttm": 1.9014, "total_mv": 276900.0, "trade_date": "20260904", "years": ["20201231", "20211231", "20221231", "20231231", "20241231", "20251231"], "multi_year": true, "gm_series": [34.0, 32.2, 30.2, 27.8, 24.6, 24.1], "rev_series": [11.4, 13.7, 14.1, 18.1, 18.7, 18.2], "np_series": [0.4, 0.3, 0.4, 0.6, 0.3, 0.6], "roe_series": [2.9, 1.8, 2.7, 3.8, 2.1, 4.0], "period": "20260630", "rev_ttm": 17.8, "np_ttm": 0.7, "ocf_ttm": 2.9, "fcf_ttm": 2.8, "fcf_yield": 10.0, "ocf_yield": 10.6, "gm_median": 27.8, "gm_std": 3.2, "gm_stab": 0.89, "gm_chg_2022": -3.8, "npm_median": 5.9, "roe_median": 2.7, "commodity": false, "hard_ratio": 28.4, "fix_assets": 9.0, "goodwill_ratio": 0.0, "pb_calc": 1.75, "capex_dep": 0.27, "interest_debt": 1.0, "debt_ebitda": 0.5, "debt_ratio": 25.0, "debt_mv": 3.8, "payout": 82.4, "div_years": 5, "rev_cagr3": 8.8, "np_cagr3": 15.1, "rev_yoy": -4.7, "np_yoy": 15.1, "np_vol": 52.4, "loss_years": 0, "far_share": 88.0, "earn_yield": 2.4, "consensus_n": 1, "fwd_pe": 41.8, "fwd_pe2": 37.4, "fwd_g1": -1.0, "fwd_g2": 12.0, "peg": 3.48, "consensus_disp": null, "mainbz": [["产品", 49.0], ["商品贸易", 27.0], ["餐饮", 6.0], ["客房", 6.0]], "ret_prev_year": 12.8, "ret_prev2_year": -12.3, "ret_ytd": -7.5, "ret_pivot": 18.8, "prev_year": "2025", "prev2_year": "2024", "ret_20": 8.7, "ret_60": 10.7, "ret_120": -10.3, "ret_250": -9.3, "mdd_250": -30.1, "vol_250": 29.3, "pos_52w": 83.1}, "S": {"duration": 64, "pricing": 50, "hard": 45, "bondness": 53}, "label": "中性", "tags": [], "text": {"像什么": ["PE 41.4 倍、股息率 1.9%、毛利率近 5 年中位 27.8%、固定资产占比 28%、有息负债/EBITDA 0.5 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 28%,毛利率近 5 年中位 27.8%。", "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 10.0%(经营现金流/市值 10.6%)。覆盖高。"], ["能否每年提价而不掉量?", "毛利率近 5 年中位 27.8%,稳定度 89%,2020→2022 成本通胀期毛利率变化 -3.8 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 28%,资本开支/折旧 0.27 倍。有一些。"], ["估值里多少来自 5 年后的故事?", "按 PE 41.4 倍 粗算,约 88%(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 -9%,最大回撤 -30%,年化波动 29%,现价在 52 周高点的 83%;近 20 / 60 / 120 日 9% / 11% / -10%。", "行业对照": ["同申万二级「酒店餐饮」9 家中位:PE 75.3 / 股息率 1.9% / 毛利率 19.3% / 固定资产占比 28% / 分红率 59%。", "金陵饭店:PE 比行业中位低 33.9倍;股息率 与行业中位持平;毛利率 比行业中位高 8.5个百分点;固定资产占比 与行业中位持平。"]}}