{"F": {"ts_code": "603662.SH", "name": "柯力传感", "mkt": "CN", "ccy": "元", "sw1": "机械设备", "sw2": "通用设备", "sw3": "仪器仪表", "ind": "通用设备", "fin_source": "tushare", "market": "主板", "list_date": "20190806", "is_fin": false, "roles": {"fin": false, "commodity": false, "precious": false, "regulated": false, "hard": true, "growth": true}, "province": null, "main_business": "", "introduction": "", "close": 50.25, "pe_ttm": 47.29, "pb": 4.8964, "dv_ttm": 0.7244, "total_mv": 1411170.2475, "trade_date": "20260904", "years": ["20201231", "20211231", "20221231", "20231231", "20241231", "20251231"], "multi_year": true, "gm_series": [41.1, 38.3, 40.2, 43.0, 43.1, 44.8], "rev_series": [8.4, 10.3, 10.6, 10.7, 13.0, 15.6], "np_series": [2.2, 2.5, 2.6, 3.1, 2.6, 3.4], "roe_series": [12.0, 12.5, 11.9, 13.0, 10.0, 12.6], "period": "20260630", "rev_ttm": 17.1, "np_ttm": 3.0, "ocf_ttm": 4.2, "fcf_ttm": 3.1, "fcf_yield": 2.2, "ocf_yield": 2.9, "gm_median": 43.0, "gm_std": 2.3, "gm_stab": 0.95, "gm_chg_2022": -0.9, "npm_median": 25.1, "roe_median": 12.5, "commodity": false, "hard_ratio": 10.4, "fix_assets": 4.8, "goodwill_ratio": 9.9, "pb_calc": 4.9, "capex_dep": 1.55, "interest_debt": 6.9, "debt_ebitda": 1.5, "debt_ratio": 29.8, "debt_mv": 4.9, "payout": 30.2, "div_years": 5, "rev_cagr3": 13.7, "np_cagr3": 9.4, "rev_yoy": 22.3, "np_yoy": -24.4, "np_vol": 16.1, "loss_years": 0, "far_share": 89.0, "earn_yield": 2.1, "consensus_n": 4, "fwd_pe": 41.7, "fwd_pe2": 35.2, "fwd_g1": 13.0, "fwd_g2": 18.0, "peg": 2.32, "consensus_disp": null, "mainbz": [["产品", 50.0], ["主营业务", 49.0], ["其他业务", 1.0]], "ret_prev_year": 12.0, "ret_prev2_year": 82.7, "ret_ytd": -29.9, "ret_pivot": 100.8, "prev_year": "2025", "prev2_year": "2024", "ret_20": -7.6, "ret_60": -22.2, "ret_120": -15.8, "ret_250": -31.0, "mdd_250": -42.8, "vol_250": 45.7, "pos_52w": 62.0}, "S": {"duration": 69, "pricing": 62, "hard": 17, "bondness": 26}, "label": "中性", "tags": [], "text": {"像什么": ["PE 47.3 倍、股息率 0.7%、毛利率近 5 年中位 43.0%、固定资产占比 10%、有息负债/EBITDA 1.5 倍: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 43.0%),硬资产占比 10%。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 2.2%(经营现金流/市值 2.9%)。一般。"], ["能否每年提价而不掉量?", "毛利率近 5 年中位 43.0%,稳定度 95%,2020→2022 成本通胀期毛利率变化 -0.9 个百分点。能。"], ["资产重置成本随通胀涨吗?", "固定资产 + 在建占总资产 10%,资本开支/折旧 1.55 倍。没有资产可言。"], ["估值里多少来自 5 年后的故事?", "按 PE 47.3 倍 粗算,约 89%(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 -31%,最大回撤 -43%,年化波动 46%,现价在 52 周高点的 62%;近 20 / 60 / 120 日 -8% / -22% / -16%。", "行业对照": ["同申万二级「通用设备」248 家中位:PE 50.6 / 股息率 0.8% / 毛利率 28.5% / 固定资产占比 21% / 分红率 45%。", "柯力传感:PE 比行业中位低 3.3倍;股息率 比行业中位低 0.1个百分点;毛利率 比行业中位高 14.5个百分点;固定资产占比 比行业中位低 10.4个百分点。"]}}