{"F": {"ts_code": "603008.SH", "name": "ST喜临门", "mkt": "CN", "ccy": "元", "sw1": "轻工制造", "sw2": "家居用品", "sw3": "成品家居", "ind": "家居用品", "fin_source": "tushare", "market": "主板", "list_date": "20120717", "is_fin": false, "roles": {"fin": false, "commodity": false, "precious": false, "regulated": false, "hard": true, "growth": false}, "province": null, "main_business": "", "introduction": "", "close": 8.9, "pe_ttm": null, "pb": 0.9322, "dv_ttm": 3.1461, "total_mv": 327780.236, "trade_date": "20260904", "years": ["20201231", "20211231", "20221231", "20231231", "20241231", "20251231"], "multi_year": true, "gm_series": [33.8, 32.0, 32.4, 34.4, 33.7, 35.8], "rev_series": [56.2, 77.7, 78.4, 86.8, 87.3, 88.2], "np_series": [3.1, 5.6, 2.4, 4.3, 3.2, 2.4], "roe_series": [11.2, 18.2, 7.1, 11.9, 8.6, 6.6], "period": "20260630", "rev_ttm": 86.1, "np_ttm": -0.6, "ocf_ttm": 7.9, "fcf_ttm": 2.5, "fcf_yield": 7.7, "ocf_yield": 24.2, "gm_median": 33.7, "gm_std": 1.4, "gm_stab": 0.96, "gm_chg_2022": -1.4, "npm_median": 3.7, "roe_median": 8.6, "commodity": false, "hard_ratio": 28.7, "fix_assets": 24.1, "goodwill_ratio": 2.0, "pb_calc": 0.93, "capex_dep": 2.28, "interest_debt": 26.9, "debt_ebitda": 4.6, "debt_ratio": 57.5, "debt_mv": 82.1, "payout": 61.2, "div_years": 5, "rev_cagr3": 4.0, "np_cagr3": 0.5, "rev_yoy": -5.2, "np_yoy": -113.6, "np_vol": 57.7, "loss_years": 0, "far_share": 100, "earn_yield": null, "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], ["主营业务", 49.0], ["其他业务", 1.0]], "ret_prev_year": 28.3, "ret_prev2_year": 1.6, "ret_ytd": -56.5, "ret_pivot": -34.7, "prev_year": "2025", "prev2_year": "2024", "ret_20": 11.8, "ret_60": -1.3, "ret_120": -53.6, "ret_250": -51.6, "mdd_250": -67.4, "vol_250": 47.0, "pos_52w": 38.5}, "S": {"duration": 100, "pricing": 57, "hard": 46, "bondness": 70}, "label": "现金流红利", "tags": ["亏损或困境", "资本开支扩张期"], "text": {"像什么": ["分红率 61%、股息率 3.1%、营收 3 年复合 4.0%、有息负债/EBITDA 4.6 倍:红利底仓,但不靠杠杆。"], "为什么(不)算钱的替代品": "只占定价权一条(毛利率 33.7%),硬资产占比 29%。分子能跟上通胀,但没有重置成本对冲;按'定价权·品牌'看,不按硬资产看。", "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 7.7%(经营现金流/市值 24.2%)。覆盖高。"], ["能否每年提价而不掉量?", "毛利率近 5 年中位 33.7%,稳定度 96%,2020→2022 成本通胀期毛利率变化 -1.4 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 29%,资本开支/折旧 2.28 倍。有一些。"], ["估值里多少来自 5 年后的故事?", "按 PE 为负 粗算,约 100%(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 -52%,最大回撤 -67%,年化波动 47%,现价在 52 周高点的 38%;近 20 / 60 / 120 日 12% / -1% / -54%。", "行业对照": ["同申万二级「家居用品」77 家中位:PE 28.3 / 股息率 1.7% / 毛利率 28.3% / 固定资产占比 32% / 分红率 50%。", "ST喜临门:PE ;股息率 比行业中位高 1.4个百分点;毛利率 比行业中位高 5.4个百分点;固定资产占比 比行业中位低 2.9个百分点。"]}}