{"F": {"ts_code": "603655.SH", "name": "朗博科技", "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": "20171229", "is_fin": false, "roles": {"fin": false, "commodity": false, "precious": false, "regulated": false, "hard": true, "growth": true}, "province": null, "main_business": "", "introduction": "", "close": 29.25, "pe_ttm": 69.1474, "pb": 5.5344, "dv_ttm": 1.152, "total_mv": 310050.0, "trade_date": "20260904", "years": ["20201231", "20211231", "20221231", "20231231", "20241231", "20251231"], "multi_year": true, "gm_series": [42.7, 40.2, 34.2, 33.1, 34.3, 39.6], "rev_series": [1.7, 1.9, 1.8, 2.0, 2.3, 2.7], "np_series": [0.2, 0.2, 0.2, 0.2, 0.3, 0.5], "roe_series": [4.5, 4.8, 2.9, 3.7, 5.2, 8.2], "period": "20260630", "rev_ttm": 2.7, "np_ttm": 0.4, "ocf_ttm": 0.6, "fcf_ttm": 0.2, "fcf_yield": 0.6, "ocf_yield": 1.9, "gm_median": 34.3, "gm_std": 3.0, "gm_stab": 0.91, "gm_chg_2022": -8.5, "npm_median": 12.1, "roe_median": 4.8, "commodity": false, "hard_ratio": 22.5, "fix_assets": 1.3, "goodwill_ratio": 0.0, "pb_calc": 5.53, "capex_dep": 1.88, "interest_debt": 0.0, "debt_ebitda": null, "debt_ratio": 6.7, "debt_mv": null, "payout": 57.7, "div_years": 5, "rev_cagr3": 15.3, "np_cagr3": 43.6, "rev_yoy": 2.2, "np_yoy": -2.1, "np_vol": 33.9, "loss_years": 0, "far_share": 93.0, "earn_yield": 1.4, "consensus_n": 0, "fwd_pe": null, "fwd_pe2": null, "fwd_g1": null, "fwd_g2": null, "peg": null, "consensus_disp": null, "mainbz": [["O型圈", 37.0], ["轮毂组件", 24.0], ["轴封", 23.0], ["其他主营业务", 8.0]], "ret_prev_year": 74.2, "ret_prev2_year": 17.7, "ret_ytd": -29.6, "ret_pivot": 134.4, "prev_year": "2025", "prev2_year": "2024", "ret_20": -2.6, "ret_60": -8.8, "ret_120": -26.4, "ret_250": -19.6, "mdd_250": -53.7, "vol_250": 60.9, "pos_52w": 56.7}, "S": {"duration": 82, "pricing": 53, "hard": 36, "bondness": 35}, "label": "中性", "tags": [], "text": {"像什么": ["PE 69.1 倍、股息率 1.2%、毛利率近 5 年中位 34.3%、固定资产占比 22%、资产负债率 7%:四轴都不突出。"], "为什么(不)算钱的替代品": "只占定价权一条(毛利率 34.3%),硬资产占比 22%。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": "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 0.6%(经营现金流/市值 1.9%)。极低或为负。"], ["能否每年提价而不掉量?", "毛利率近 5 年中位 34.3%,稳定度 91%,2020→2022 成本通胀期毛利率变化 -8.5 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 22%,资本开支/折旧 1.88 倍。有一些。"], ["估值里多少来自 5 年后的故事?", "按 PE 69.1 倍 粗算,约 93%(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 -20%,最大回撤 -54%,年化波动 61%,现价在 52 周高点的 57%;近 20 / 60 / 120 日 -3% / -9% / -26%。", "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%。", "朗博科技:PE 比行业中位高 38.9倍;股息率 比行业中位高 0.1个百分点;毛利率 比行业中位高 12.9个百分点;固定资产占比 比行业中位低 3.0个百分点。"]}}