{"F": {"ts_code": "603239.SH", "name": "浙江仙通", "mkt": "CN", "ccy": "元", "sw1": "汽车", "sw2": "汽车零部件", "sw3": "其他汽车零部件", "ind": "汽车零部件", "fin_source": "tushare", "market": "主板", "list_date": "20161230", "is_fin": false, "roles": {"fin": false, "commodity": false, "precious": false, "regulated": false, "hard": true, "growth": true}, "province": null, "main_business": "", "introduction": "", "close": 14.25, "pe_ttm": 19.7285, "pb": 2.9058, "dv_ttm": 2.1053, "total_mv": 385776.0, "trade_date": "20260904", "years": ["20201231", "20211231", "20221231", "20231231", "20241231", "20251231"], "multi_year": true, "gm_series": [36.5, 35.0, 28.8, 29.4, 29.7, 29.3], "rev_series": [6.2, 7.9, 9.4, 10.7, 12.2, 15.2], "np_series": [1.1, 1.4, 1.3, 1.5, 1.7, 2.2], "roe_series": [10.8, 14.3, 12.5, 14.5, 15.4, 17.9], "period": "20260630", "rev_ttm": 15.4, "np_ttm": 2.0, "ocf_ttm": 1.2, "fcf_ttm": 0.6, "fcf_yield": 1.5, "ocf_yield": 3.2, "gm_median": 29.4, "gm_std": 2.3, "gm_stab": 0.92, "gm_chg_2022": -7.7, "npm_median": 14.2, "roe_median": 14.5, "commodity": false, "hard_ratio": 31.8, "fix_assets": 5.5, "goodwill_ratio": 0.0, "pb_calc": 2.91, "capex_dep": 1.02, "interest_debt": 0.3, "debt_ebitda": 0.1, "debt_ratio": 22.9, "debt_mv": 0.9, "payout": 36.6, "div_years": 5, "rev_cagr3": 17.6, "np_cagr3": 20.7, "rev_yoy": 2.8, "np_yoy": -24.6, "np_vol": 15.6, "loss_years": 0, "far_share": 75.0, "earn_yield": 5.1, "consensus_n": 4, "fwd_pe": 14.0, "fwd_pe2": 11.5, "fwd_g1": 41.0, "fwd_g2": 22.0, "peg": 0.64, "consensus_disp": null, "mainbz": [["产品", 50.0], ["主营业务", 49.0], ["其他业务", 1.0]], "ret_prev_year": 56.2, "ret_prev2_year": -10.4, "ret_ytd": -29.5, "ret_pivot": 27.3, "prev_year": "2025", "prev2_year": "2024", "ret_20": -0.3, "ret_60": -15.8, "ret_120": -34.1, "ret_250": -11.1, "mdd_250": -51.4, "vol_250": 51.3, "pos_52w": 54.6}, "S": {"duration": 39, "pricing": 51, "hard": 51, "bondness": 28}, "label": "中性", "tags": ["PEG<0.8"], "text": {"像什么": ["PE 19.7 倍、股息率 2.1%、毛利率近 5 年中位 29.4%、固定资产占比 32%、有息负债/EBITDA 0.1 倍:四轴都不突出。"], "为什么(不)算钱的替代品": "只占硬资产一条(占比 32%),没有定价权:毛利率近 5 年中位 29.4%,稳定度 92%。通胀来了成本转嫁不出去,利润跟不上通胀。这是陷阱不是保护。", "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 1.5%(经营现金流/市值 3.2%)。极低或为负。"], ["能否每年提价而不掉量?", "毛利率近 5 年中位 29.4%,稳定度 92%,2020→2022 成本通胀期毛利率变化 -7.7 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 32%,资本开支/折旧 1.02 倍。涨。"], ["估值里多少来自 5 年后的故事?", "按 PE 19.7 倍 粗算,约 75%(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 -11%,最大回撤 -51%,年化波动 51%,现价在 52 周高点的 55%;近 20 / 60 / 120 日 -0% / -16% / -34%。", "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%。", "浙江仙通:PE 比行业中位低 10.5倍;股息率 比行业中位高 1.0个百分点;毛利率 比行业中位高 8.0个百分点;固定资产占比 比行业中位高 6.3个百分点。"]}}