{"F": {"ts_code": "601799.SH", "name": "星宇股份", "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": "20110201", "is_fin": false, "roles": {"fin": false, "commodity": false, "precious": false, "regulated": false, "hard": true, "growth": true}, "province": null, "main_business": "", "introduction": "", "close": 76.32, "pe_ttm": 13.7389, "pb": 1.9246, "dv_ttm": 2.5946, "total_mv": 2180305.1808, "trade_date": "20260904", "years": ["20201231", "20211231", "20221231", "20231231", "20241231", "20251231"], "multi_year": true, "gm_series": [27.3, 22.1, 22.6, 21.2, 19.3, 19.6], "rev_series": [73.2, 79.1, 82.5, 102.5, 132.5, 152.6], "np_series": [11.6, 9.5, 9.4, 11.0, 14.1, 16.2], "roe_series": [21.5, 13.8, 11.5, 12.5, 14.6, 15.1], "period": "20260630", "rev_ttm": 153.8, "np_ttm": 15.9, "ocf_ttm": 22.3, "fcf_ttm": 13.2, "fcf_yield": 6.0, "ocf_yield": 10.2, "gm_median": 21.2, "gm_std": 1.3, "gm_stab": 0.94, "gm_chg_2022": -4.7, "npm_median": 10.8, "roe_median": 13.8, "commodity": false, "hard_ratio": 23.8, "fix_assets": 44.3, "goodwill_ratio": 0.0, "pb_calc": 1.92, "capex_dep": 1.63, "interest_debt": 0.5, "debt_ebitda": 0.0, "debt_ratio": 39.1, "debt_mv": 0.2, "payout": 31.0, "div_years": 5, "rev_cagr3": 22.8, "np_cagr3": 19.9, "rev_yoy": 1.9, "np_yoy": -5.3, "np_vol": 16.0, "loss_years": 0, "far_share": 64.0, "earn_yield": 7.3, "consensus_n": 13, "fwd_pe": 12.1, "fwd_pe2": 9.7, "fwd_g1": 14.0, "fwd_g2": 24.0, "peg": 0.5, "consensus_disp": null, "mainbz": [["产品", 49.0], ["汽车零部件", 47.0], ["其他主营业务", 2.0], ["其他", 2.0]], "ret_prev_year": -6.6, "ret_prev2_year": 3.0, "ret_ytd": -37.2, "ret_pivot": -40.3, "prev_year": "2025", "prev2_year": "2024", "ret_20": -19.1, "ret_60": -36.2, "ret_120": -43.1, "ret_250": -41.2, "mdd_250": -50.9, "vol_250": 41.1, "pos_52w": 50.1}, "S": {"duration": 29, "pricing": 47, "hard": 38, "bondness": 26}, "label": "中性", "tags": ["PEG<0.8"], "text": {"像什么": ["PE 13.7 倍、股息率 2.6%、毛利率近 5 年中位 21.2%、固定资产占比 24%、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 24%,毛利率近 5 年中位 21.2%。", "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 6.0%(经营现金流/市值 10.2%)。覆盖高。"], ["能否每年提价而不掉量?", "毛利率近 5 年中位 21.2%,稳定度 94%,2020→2022 成本通胀期毛利率变化 -4.7 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 24%,资本开支/折旧 1.63 倍。有一些。"], ["估值里多少来自 5 年后的故事?", "按 PE 13.7 倍 粗算,约 64%(1 − 5/PE)。中等。"]], "价格行为": "近一年 -41%,最大回撤 -51%,年化波动 41%,现价在 52 周高点的 50%;近 20 / 60 / 120 日 -19% / -36% / -43%。", "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%。", "星宇股份:PE 比行业中位低 16.5倍;股息率 比行业中位高 1.5个百分点;毛利率 比行业中位低 0.2个百分点;固定资产占比 比行业中位低 1.7个百分点。"]}}