{"F": {"ts_code": "605186.SH", "name": "健麾信息", "mkt": "CN", "ccy": "元", "sw1": "机械设备", "sw2": "自动化设备", "sw3": "其他自动化设备", "ind": "自动化设备", "fin_source": "tushare", "market": "主板", "list_date": "20201222", "is_fin": false, "roles": {"fin": false, "commodity": false, "precious": false, "regulated": false, "hard": true, "growth": true}, "province": null, "main_business": "", "introduction": "", "close": 25.62, "pe_ttm": 106.0384, "pb": 3.1389, "dv_ttm": null, "total_mv": 348432.0, "trade_date": "20260904", "years": ["20201231", "20211231", "20221231", "20231231", "20241231", "20251231"], "multi_year": true, "gm_series": [59.7, 42.3, 59.6, 54.8, 39.1, 43.7], "rev_series": [2.9, 4.9, 3.2, 3.1, 3.2, 3.5], "np_series": [1.0, 1.2, 1.2, 0.6, 0.3, 0.3], "roe_series": [17.4, 13.7, 12.1, 5.8, 3.1, 2.8], "period": "20260630", "rev_ttm": 3.7, "np_ttm": 0.3, "ocf_ttm": 0.3, "fcf_ttm": 0.2, "fcf_yield": 0.6, "ocf_yield": 0.8, "gm_median": 43.7, "gm_std": 7.9, "gm_stab": 0.82, "gm_chg_2022": -0.1, "npm_median": 20.2, "roe_median": 5.8, "commodity": false, "hard_ratio": 27.8, "fix_assets": 4.4, "goodwill_ratio": 6.3, "pb_calc": 3.14, "capex_dep": 0.32, "interest_debt": 1.7, "debt_ebitda": 3.0, "debt_ratio": 22.9, "debt_mv": 4.8, "payout": 22.7, "div_years": 3, "rev_cagr3": 2.3, "np_cagr3": -35.7, "rev_yoy": 16.5, "np_yoy": 41.3, "np_vol": 27.4, "loss_years": 0, "far_share": 95.0, "earn_yield": 0.9, "consensus_n": 1, "fwd_pe": 51.2, "fwd_pe2": 41.3, "fwd_g1": 107.0, "fwd_g2": 24.0, "peg": 2.13, "consensus_disp": null, "mainbz": [["产品", 46.0], ["项目收入", 39.0], ["维修保养", 5.0], ["维保收入", 5.0]], "ret_prev_year": -2.3, "ret_prev2_year": -51.7, "ret_ytd": 30.4, "ret_pivot": 48.9, "prev_year": "2025", "prev2_year": "2024", "ret_20": -1.7, "ret_60": -25.4, "ret_120": 20.7, "ret_250": 14.8, "mdd_250": -37.0, "vol_250": 43.3, "pos_52w": 73.1}, "S": {"duration": 93, "pricing": 58, "hard": 44, "bondness": 35}, "label": "中性", "tags": [], "text": {"像什么": ["PE 106.0 倍、股息率 —、毛利率近 5 年中位 43.7%、固定资产占比 28%、有息负债/EBITDA 3.0 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 43.7%。", "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 0.8%)。极低或为负。"], ["能否每年提价而不掉量?", "毛利率近 5 年中位 43.7%,稳定度 82%,2020→2022 成本通胀期毛利率变化 -0.1 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 28%,资本开支/折旧 0.32 倍。有一些。"], ["估值里多少来自 5 年后的故事?", "按 PE 106.0 倍 粗算,约 95%(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 15%,最大回撤 -37%,年化波动 43%,现价在 52 周高点的 73%;近 20 / 60 / 120 日 -2% / -25% / 21%。", "行业对照": ["同申万二级「自动化设备」93 家中位:PE 77.4 / 股息率 0.7% / 毛利率 33.9% / 固定资产占比 14% / 分红率 42%。", "健麾信息:PE 比行业中位高 28.6倍;股息率 ;毛利率 比行业中位高 9.8个百分点;固定资产占比 比行业中位高 14.0个百分点。"]}}