{"F": {"ts_code": "603337.SH", "name": "杰克科技", "mkt": "CN", "ccy": "元", "sw1": "机械设备", "sw2": "专用设备", "sw3": "纺织服装设备", "ind": "专用设备", "fin_source": "tushare", "market": "主板", "list_date": "20170119", "is_fin": false, "roles": {"fin": false, "commodity": false, "precious": false, "regulated": false, "hard": true, "growth": true}, "province": null, "main_business": "", "introduction": "", "close": 37.96, "pe_ttm": 20.7789, "pb": 3.3454, "dv_ttm": 1.1297, "total_mv": 1808369.2276, "trade_date": "20260904", "years": ["20201231", "20211231", "20221231", "20231231", "20241231", "20251231"], "multi_year": true, "gm_series": [25.2, 24.7, 26.7, 28.4, 32.8, 34.2], "rev_series": [35.2, 60.5, 55.0, 52.9, 60.9, 65.9], "np_series": [3.1, 4.7, 4.9, 5.4, 8.1, 8.6], "roe_series": [11.2, 15.1, 13.1, 12.5, 18.1, 17.6], "period": "20260630", "rev_ttm": 71.3, "np_ttm": 8.7, "ocf_ttm": 13.2, "fcf_ttm": 11.5, "fcf_yield": 6.4, "ocf_yield": 7.3, "gm_median": 28.4, "gm_std": 3.6, "gm_stab": 0.87, "gm_chg_2022": 1.6, "npm_median": 10.2, "roe_median": 15.1, "commodity": false, "hard_ratio": 28.1, "fix_assets": 25.9, "goodwill_ratio": 0.0, "pb_calc": 3.35, "capex_dep": 0.6, "interest_debt": 10.3, "debt_ebitda": 0.8, "debt_ratio": 40.0, "debt_mv": 5.7, "payout": 44.2, "div_years": 5, "rev_cagr3": 6.2, "np_cagr3": 20.1, "rev_yoy": 16.2, "np_yoy": 3.0, "np_vol": 21.1, "loss_years": 0, "far_share": 76.0, "earn_yield": 4.8, "consensus_n": 10, "fwd_pe": 18.1, "fwd_pe2": 15.2, "fwd_g1": 15.0, "fwd_g2": 19.0, "peg": 0.95, "consensus_disp": null, "mainbz": [["产品", 35.0], ["智能工业缝纫机", 30.0], ["工业缝纫机", 30.0], ["智能裁床及铺布机", 4.0]], "ret_prev_year": 45.3, "ret_prev2_year": 48.7, "ret_ytd": -11.5, "ret_pivot": 58.6, "prev_year": "2025", "prev2_year": "2024", "ret_20": -15.0, "ret_60": -1.0, "ret_120": -14.8, "ret_250": -23.5, "mdd_250": -29.4, "vol_250": 47.4, "pos_52w": 75.2}, "S": {"duration": 41, "pricing": 53, "hard": 45, "bondness": 38}, "label": "中性", "tags": [], "text": {"像什么": ["PE 20.8 倍、股息率 1.1%、毛利率近 5 年中位 28.4%、固定资产占比 28%、有息负债/EBITDA 0.8 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 28.4%。", "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 6.4%(经营现金流/市值 7.3%)。覆盖高。"], ["能否每年提价而不掉量?", "毛利率近 5 年中位 28.4%,稳定度 87%,2020→2022 成本通胀期毛利率变化 1.6 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 0.60 倍。有一些。"], ["估值里多少来自 5 年后的故事?", "按 PE 20.8 倍 粗算,约 76%(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 -24%,最大回撤 -29%,年化波动 47%,现价在 52 周高点的 75%;近 20 / 60 / 120 日 -15% / -1% / -15%。", "行业对照": ["同申万二级「专用设备」205 家中位:PE 42.3 / 股息率 1.1% / 毛利率 26.3% / 固定资产占比 18% / 分红率 44%。", "杰克科技:PE 比行业中位低 21.5倍;股息率 与行业中位持平;毛利率 比行业中位高 2.1个百分点;固定资产占比 比行业中位高 10.1个百分点。"]}}