{"F": {"ts_code": "603355.SH", "name": "莱克电气", "mkt": "CN", "ccy": "元", "sw1": "家用电器", "sw2": "小家电", "sw3": "清洁小家电", "ind": "小家电", "fin_source": "tushare", "market": "主板", "list_date": "20150513", "is_fin": false, "roles": {"fin": false, "commodity": false, "precious": false, "regulated": false, "hard": true, "growth": false}, "province": null, "main_business": "", "introduction": "", "close": 27.34, "pe_ttm": 25.9789, "pb": 2.6691, "dv_ttm": null, "total_mv": 1567667.1246, "trade_date": "20260904", "years": ["20201231", "20211231", "20221231", "20231231", "20241231", "20251231"], "multi_year": true, "gm_series": [25.7, 21.8, 23.0, 25.6, 24.1, 22.2], "rev_series": [62.8, 79.5, 89.1, 87.9, 97.6, 98.7], "np_series": [3.3, 5.0, 9.8, 11.2, 12.3, 8.0], "roe_series": [9.9, 15.0, 27.9, 27.3, 26.4, 15.0], "period": "20260630", "rev_ttm": 97.4, "np_ttm": 6.0, "ocf_ttm": 15.0, "fcf_ttm": 10.7, "fcf_yield": 6.8, "ocf_yield": 9.5, "gm_median": 23.0, "gm_std": 1.4, "gm_stab": 0.94, "gm_chg_2022": -2.7, "npm_median": 11.0, "roe_median": 26.4, "commodity": false, "hard_ratio": 11.4, "fix_assets": 20.1, "goodwill_ratio": 3.6, "pb_calc": 2.63, "capex_dep": 1.31, "interest_debt": 85.8, "debt_ebitda": 6.9, "debt_ratio": 66.3, "debt_mv": 54.7, "payout": 140.2, "div_years": 3, "rev_cagr3": 3.5, "np_cagr3": -6.7, "rev_yoy": -2.6, "np_yoy": -45.8, "np_vol": 44.4, "loss_years": 0, "far_share": 81.0, "earn_yield": 3.8, "consensus_n": 5, "fwd_pe": 18.7, "fwd_pe2": 15.4, "fwd_g1": 39.0, "fwd_g2": 21.0, "peg": 0.89, "consensus_disp": null, "mainbz": [["产品", 50.0], ["清洁健康家电与园艺工具", 28.0], ["电机、新能源汽车精密零部件及其他零部件产品", 21.0], ["其他业务", 1.0]], "ret_prev_year": 40.1, "ret_prev2_year": 8.9, "ret_ytd": -13.8, "ret_pivot": 39.3, "prev_year": "2025", "prev2_year": "2024", "ret_20": -2.7, "ret_60": 1.1, "ret_120": -13.4, "ret_250": 12.1, "mdd_250": -37.6, "vol_250": 49.8, "pos_52w": 73.0}, "S": {"duration": 48, "pricing": 50, "hard": 18, "bondness": 66}, "label": "中性", "tags": [], "text": {"像什么": ["PE 26.0 倍、股息率 —、毛利率近 5 年中位 23.0%、固定资产占比 11%、有息负债/EBITDA 6.9 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 11%,毛利率近 5 年中位 23.0%。", "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 6.8%(经营现金流/市值 9.5%)。覆盖高。"], ["能否每年提价而不掉量?", "毛利率近 5 年中位 23.0%,稳定度 94%,2020→2022 成本通胀期毛利率变化 -2.7 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 11%,资本开支/折旧 1.31 倍。没有资产可言。"], ["估值里多少来自 5 年后的故事?", "按 PE 26.0 倍 粗算,约 81%(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 12%,最大回撤 -38%,年化波动 50%,现价在 52 周高点的 73%;近 20 / 60 / 120 日 -3% / 1% / -13%。", "行业对照": ["同申万二级「小家电」23 家中位:PE 50.5 / 股息率 1.8% / 毛利率 27.6% / 固定资产占比 22% / 分红率 50%。", "莱克电气:PE 比行业中位低 24.5倍;股息率 ;毛利率 比行业中位低 4.6个百分点;固定资产占比 比行业中位低 10.3个百分点。"]}}