{"F": {"ts_code": "603150.SH", "name": "万朗磁塑", "mkt": "CN", "ccy": "元", "sw1": "基础化工", "sw2": "塑料", "sw3": "其他塑料制品", "ind": "塑料", "fin_source": "tushare", "market": "主板", "list_date": "20220124", "is_fin": false, "roles": {"fin": false, "commodity": false, "precious": false, "regulated": false, "hard": true, "growth": false}, "province": null, "main_business": "", "introduction": "", "close": 66.51, "pe_ttm": 59.0406, "pb": 3.27, "dv_ttm": 0.4962, "total_mv": 568547.433, "trade_date": "20260904", "years": ["20201231", "20211231", "20221231", "20231231", "20241231", "20251231"], "multi_year": true, "gm_series": [30.1, 26.8, 24.7, 22.9, 21.7, 19.5], "rev_series": [12.2, 14.8, 17.1, 25.6, 33.8, 41.2], "np_series": [1.3, 1.4, 1.5, 1.4, 1.4, 1.1], "roe_series": [26.1, 23.4, 15.1, 9.8, 9.2, 6.7], "period": "20260630", "rev_ttm": 64.3, "np_ttm": 1.0, "ocf_ttm": 3.7, "fcf_ttm": 1.2, "fcf_yield": 2.1, "ocf_yield": 6.4, "gm_median": 22.9, "gm_std": 2.5, "gm_stab": 0.89, "gm_chg_2022": -5.4, "npm_median": 5.3, "roe_median": 9.8, "commodity": false, "hard_ratio": 20.5, "fix_assets": 15.3, "goodwill_ratio": 2.8, "pb_calc": 3.27, "capex_dep": 1.82, "interest_debt": 21.8, "debt_ebitda": 4.7, "debt_ratio": 74.3, "debt_mv": 38.4, "payout": 17.5, "div_years": 4, "rev_cagr3": 34.1, "np_cagr3": -9.3, "rev_yoy": 124.8, "np_yoy": -23.1, "np_vol": 10.2, "loss_years": 0, "far_share": 92.0, "earn_yield": 1.7, "consensus_n": 0, "fwd_pe": null, "fwd_pe2": null, "fwd_g1": null, "fwd_g2": null, "peg": null, "consensus_disp": null, "mainbz": [["产品", 49.0], ["家电产品", 25.0], ["家电零部件", 19.0], ["其他业务", 3.0]], "ret_prev_year": 45.3, "ret_prev2_year": -8.9, "ret_ytd": 76.0, "ret_pivot": 196.3, "prev_year": "2025", "prev2_year": "2024", "ret_20": 29.1, "ret_60": -12.9, "ret_120": 18.9, "ret_250": 72.7, "mdd_250": -43.4, "vol_250": 53.8, "pos_52w": 83.4}, "S": {"duration": 77, "pricing": 46, "hard": 33, "bondness": 23}, "label": "中性", "tags": [], "text": {"像什么": ["PE 59.0 倍、股息率 0.5%、毛利率近 5 年中位 22.9%、固定资产占比 20%、有息负债/EBITDA 4.7 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 20%,毛利率近 5 年中位 22.9%。", "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 2.1%(经营现金流/市值 6.4%)。一般。"], ["能否每年提价而不掉量?", "毛利率近 5 年中位 22.9%,稳定度 89%,2020→2022 成本通胀期毛利率变化 -5.4 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 20%,资本开支/折旧 1.82 倍。有一些。"], ["估值里多少来自 5 年后的故事?", "按 PE 59.0 倍 粗算,约 92%(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 73%,最大回撤 -43%,年化波动 54%,现价在 52 周高点的 83%;近 20 / 60 / 120 日 29% / -13% / 19%。", "行业对照": ["同申万二级「塑料」77 家中位:PE 41.1 / 股息率 0.7% / 毛利率 16.9% / 固定资产占比 32% / 分红率 40%。", "万朗磁塑:PE 比行业中位高 17.9倍;股息率 比行业中位低 0.2个百分点;毛利率 比行业中位高 6.0个百分点;固定资产占比 比行业中位低 11.4个百分点。"]}}