{"F": {"ts_code": "HK.00297", "name": "中化化肥", "mkt": "HK", "ccy": "港元", "sw1": "化肥及农用化合物", "sw2": "化肥及农用化合物", "sw3": "", "ind": "化肥及农用化合物", "fin_source": "futu", "market": "主板", "list_date": "19960930", "is_fin": false, "roles": {"fin": false, "commodity": false, "precious": false, "regulated": false, "hard": true, "growth": false}, "province": null, "main_business": "", "introduction": "", "close": 1.345, "pe_ttm": 6.141, "pb": 0.685, "dv_ttm": 5.13, "total_mv": 944789.2960885001, "trade_date": "20260904", "years": ["最近年报"], "multi_year": false, "period": "最近年报", "gm_series": [12.4], "rev_series": [258.7], "np_series": [14.2], "roe_series": [11.8], "rev_ttm": 258.7, "np_ttm": 15.5, "ocf_ttm": 21.7, "fcf_ttm": null, "fcf_yield": null, "ocf_yield": 23.0, "gm_median": 12.4, "gm_std": null, "gm_stab": null, "gm_chg_2022": null, "npm_median": 5.5, "roe_median": 11.8, "commodity": false, "hard_ratio": 19.9, "fix_assets": 49.3, "goodwill_ratio": null, "pb_calc": null, "capex_dep": null, "interest_debt": null, "debt_ebitda": null, "ebitda": 17.7, "debt_ratio": 51.4, "debt_mv": null, "payout": 32.0, "div_years": 1, "rev_cagr3": null, "np_cagr3": null, "rev_yoy": 14.4, "np_yoy": 23.8, "np_vol": null, "loss_years": 0, "far_share": 19.0, "earn_yield": 16.3, "consensus_n": 0, "fwd_pe": null, "fwd_pe2": null, "fwd_g1": null, "fwd_g2": null, "peg": null, "consensus_disp": null, "mainbz": [], "ret_prev_year": null, "ret_prev2_year": null, "ret_pivot": null, "prev_year": "", "prev2_year": "", "ret_ytd": -6.6, "ret_20": 7.2, "ret_60": -6.6, "ret_120": -21.8, "ret_250": 1.1, "mdd_250": null, "vol_250": null, "pos_52w": 67.2, "eps": 0.198}, "S": {"duration": 14, "pricing": 38, "hard": 32, "bondness": 54}, "label": "中性", "tags": ["股息率≥4%"], "text": {"像什么": ["PE 6.1 倍、股息率 5.1%、毛利率最新年报 12.4%、固定资产占比 20%、资产负债率 51%: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 20%,毛利率最新年报 12.4%。", "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?", "经营现金流/市值 23.0%(futu 无资本开支,FCF 按经营现金流 × 0.7 近似)。覆盖高。"], ["能否每年提价而不掉量?", "毛利率最新年报 12.4%。不能。"], ["资产重置成本随通胀涨吗?", "固定资产占总资产 20%。有一些。"], ["估值里多少来自 5 年后的故事?", "按 PE 6.1 倍 粗算,约 19%(1 − 5/PE)。<40%,估值靠当期。"]], "价格行为": "近一年 1%,现价在 52 周高点的 67%;近 20 / 60 / 120 日 7% / -7% / -22%。", "行业对照": ["同富途行业「化肥及农用化合物」9 家中位:PE 9.4 / 股息率 1.0% / 毛利率 10.7% / 固定资产占比 45% / 分红率 21%。", "中化化肥:PE 比行业中位低 3.3倍;股息率 比行业中位高 4.1个百分点;毛利率 比行业中位高 1.7个百分点;固定资产占比 比行业中位低 24.7个百分点。"]}}