{"F": {"ts_code": "688162.SH", "name": "巨一科技", "mkt": "CN", "ccy": "元", "sw1": "机械设备", "sw2": "专用设备", "sw3": "其他专用设备", "ind": "专用设备", "fin_source": "tushare", "market": "科创板", "list_date": "20211110", "is_fin": false, "roles": {"fin": false, "commodity": false, "precious": false, "regulated": false, "hard": true, "growth": true}, "province": null, "main_business": "", "introduction": "", "close": 24.24, "pe_ttm": 39.069, "pb": 1.3736, "dv_ttm": 0.8205, "total_mv": 332332.3392, "trade_date": "20260904", "years": ["20201231", "20211231", "20221231", "20231231", "20241231", "20251231"], "multi_year": true, "gm_series": [25.9, 23.5, 17.8, 12.0, 14.5, 15.0], "rev_series": [14.9, 21.2, 34.8, 36.9, 35.2, 43.4], "np_series": [1.3, 1.3, 1.5, -2.0, 0.2, 0.8], "roe_series": [16.1, 7.6, 5.9, -8.4, 0.9, 3.4], "period": "20260630", "rev_ttm": 45.2, "np_ttm": 0.9, "ocf_ttm": 2.1, "fcf_ttm": 1.1, "fcf_yield": 3.3, "ocf_yield": 6.2, "gm_median": 15.0, "gm_std": 3.9, "gm_stab": 0.74, "gm_chg_2022": -8.1, "npm_median": 1.9, "roe_median": 3.4, "commodity": false, "hard_ratio": 8.7, "fix_assets": 7.0, "goodwill_ratio": 0.0, "pb_calc": 1.37, "capex_dep": 1.07, "interest_debt": 3.0, "debt_ebitda": 1.3, "debt_ratio": 70.0, "debt_mv": 9.2, "payout": 154.4, "div_years": 4, "rev_cagr3": 7.6, "np_cagr3": -18.3, "rev_yoy": 9.6, "np_yoy": 10.3, "np_vol": 168.0, "loss_years": 1, "far_share": 87.0, "earn_yield": 2.6, "consensus_n": 0, "fwd_pe": null, "fwd_pe2": null, "fwd_g1": null, "fwd_g2": null, "peg": null, "consensus_disp": null, "mainbz": [["产品", 33.0], ["智能装备整体解决方案", 21.0], ["智能装备", 21.0], ["新能源汽车电机驱动系统", 13.0]], "ret_prev_year": 13.6, "ret_prev2_year": -13.9, "ret_ytd": -20.8, "ret_pivot": 57.1, "prev_year": "2025", "prev2_year": "2024", "ret_20": 4.0, "ret_60": -3.1, "ret_120": -26.5, "ret_250": -24.8, "mdd_250": -46.6, "vol_250": 40.7, "pos_52w": 66.3}, "S": {"duration": 62, "pricing": 37, "hard": 14, "bondness": 56}, "label": "中性", "tags": [], "text": {"像什么": ["PE 39.1 倍、股息率 0.8%、毛利率近 5 年中位 15.0%、固定资产占比 9%、有息负债/EBITDA 1.3 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 9%,毛利率近 5 年中位 15.0%。", "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 3.3%(经营现金流/市值 6.2%)。一般。"], ["能否每年提价而不掉量?", "毛利率近 5 年中位 15.0%,稳定度 74%,2020→2022 成本通胀期毛利率变化 -8.1 个百分点。不能。"], ["资产重置成本随通胀涨吗?", "固定资产 + 在建占总资产 9%,资本开支/折旧 1.07 倍。没有资产可言。"], ["估值里多少来自 5 年后的故事?", "按 PE 39.1 倍 粗算,约 87%(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 -25%,最大回撤 -47%,年化波动 41%,现价在 52 周高点的 66%;近 20 / 60 / 120 日 4% / -3% / -26%。", "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%。", "巨一科技:PE 比行业中位低 3.2倍;股息率 比行业中位低 0.3个百分点;毛利率 比行业中位低 11.3个百分点;固定资产占比 比行业中位低 9.3个百分点。"]}}