{"F": {"ts_code": "HK.00725", "name": "恒都集团", "mkt": "HK", "ccy": "港元", "sw1": "工业零件及器材", "sw2": "工业零件及器材", "sw3": "", "ind": "工业零件及器材", "fin_source": "futu", "market": "主板", "list_date": "19961230", "is_fin": false, "roles": {"fin": false, "commodity": false, "precious": false, "regulated": false, "hard": true, "growth": false}, "province": null, "main_business": "", "introduction": "", "close": 1.02, "pe_ttm": 6.666, "pb": 0.426, "dv_ttm": 3.92, "total_mv": 20293.716, "trade_date": "20260904", "years": ["最近年报"], "multi_year": false, "period": "最近年报", "gm_series": [29.7], "rev_series": [4.0], "np_series": [0.3], "roe_series": [7.0], "rev_ttm": 4.0, "np_ttm": 0.3, "ocf_ttm": 0.7, "fcf_ttm": null, "fcf_yield": null, "ocf_yield": 36.0, "gm_median": 29.7, "gm_std": null, "gm_stab": null, "gm_chg_2022": null, "npm_median": 7.9, "roe_median": 7.0, "commodity": false, "hard_ratio": 23.1, "fix_assets": 1.2, "goodwill_ratio": null, "pb_calc": null, "capex_dep": null, "interest_debt": null, "debt_ebitda": null, "ebitda": 0.0, "debt_ratio": 15.8, "debt_mv": null, "payout": 26.0, "div_years": 1, "rev_cagr3": null, "np_cagr3": null, "rev_yoy": 20.4, "np_yoy": 20.9, "np_vol": null, "loss_years": 0, "far_share": 25.0, "earn_yield": 15.0, "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": 34.2, "ret_20": 2.5, "ret_60": -24.4, "ret_120": 30.8, "ret_250": 36.0, "mdd_250": null, "vol_250": null, "pos_52w": 67.5, "eps": 0.157}, "S": {"duration": 15, "pricing": 47, "hard": 37, "bondness": 46}, "label": "中性", "tags": [], "text": {"像什么": ["PE 6.7 倍、股息率 3.9%、毛利率最新年报 29.7%、固定资产占比 23%、资产负债率 16%: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 23%,毛利率最新年报 29.7%。", "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?", "经营现金流/市值 36.0%(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 29.7%。取决于竞争。"], ["资产重置成本随通胀涨吗?", "固定资产占总资产 23%。有一些。"], ["估值里多少来自 5 年后的故事?", "按 PE 6.7 倍 粗算,约 25%(1 − 5/PE)。<40%,估值靠当期。"]], "价格行为": "近一年 36%,现价在 52 周高点的 68%;近 20 / 60 / 120 日 2% / -24% / 31%。", "行业对照": ["同富途行业「工业零件及器材」73 家中位:PE 15.3 / 股息率 0.0% / 毛利率 24.2% / 固定资产占比 16% / 分红率 25%。", "恒都集团:PE 比行业中位低 8.6倍;股息率 比行业中位高 3.9个百分点;毛利率 比行业中位高 5.5个百分点;固定资产占比 比行业中位高 6.7个百分点。"]}}