{"F": {"ts_code": "HK.01401", "name": "未来机器有限公司", "mkt": "HK", "ccy": "港元", "sw1": "电子零件", "sw2": "电子零件", "sw3": "", "ind": "电子零件", "fin_source": "futu", "market": "主板", "list_date": "20191113", "is_fin": false, "roles": {"fin": false, "commodity": false, "precious": false, "regulated": false, "hard": false, "growth": true}, "province": null, "main_business": "", "introduction": "", "close": 0.241, "pe_ttm": 5.02, "pb": 0.551, "dv_ttm": 0.0, "total_mv": 36150.0, "trade_date": "20260904", "years": ["最近年报"], "multi_year": false, "period": "最近年报", "gm_series": [8.3], "rev_series": [48.4], "np_series": [0.5], "roe_series": [9.2], "rev_ttm": 48.4, "np_ttm": 0.7, "ocf_ttm": -1.5, "fcf_ttm": null, "fcf_yield": null, "ocf_yield": -42.7, "gm_median": 8.3, "gm_std": null, "gm_stab": null, "gm_chg_2022": null, "npm_median": 1.0, "roe_median": 9.2, "commodity": false, "hard_ratio": 2.6, "fix_assets": 1.1, "goodwill_ratio": null, "pb_calc": null, "capex_dep": null, "interest_debt": null, "debt_ebitda": null, "ebitda": 0.9, "debt_ratio": 86.9, "debt_mv": null, "payout": 0.0, "div_years": 0, "rev_cagr3": null, "np_cagr3": null, "rev_yoy": 55.9, "np_yoy": 179.3, "np_vol": null, "loss_years": 0, "far_share": 0.0, "earn_yield": 19.9, "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": -61.7, "ret_20": -10.7, "ret_60": -22.3, "ret_120": -74.4, "ret_250": -73.5, "mdd_250": null, "vol_250": null, "pos_52w": 17.0, "eps": 0.031}, "S": {"duration": 12, "pricing": 36, "hard": 4, "bondness": 13}, "label": "中性", "tags": [], "text": {"像什么": ["PE 5.0 倍、股息率 0.0%、毛利率最新年报 8.3%、固定资产占比 3%、资产负债率 87%: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 3%,毛利率最新年报 8.3%。", "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 -42.7%(futu 无资本开支,FCF 按经营现金流 × 0.7 近似)。极低或为负。"], ["能否每年提价而不掉量?", "毛利率最新年报 8.3%。不能。"], ["资产重置成本随通胀涨吗?", "固定资产占总资产 3%。没有资产可言。"], ["估值里多少来自 5 年后的故事?", "按 PE 5.0 倍 粗算,约 0%(1 − 5/PE)。中等。"]], "价格行为": "近一年 -74%,现价在 52 周高点的 17%;近 20 / 60 / 120 日 -11% / -22% / -74%。", "行业对照": ["同富途行业「电子零件」27 家中位:PE 17.0 / 股息率 0.6% / 毛利率 16.4% / 固定资产占比 25% / 分红率 14%。", "未来机器有限公司:PE 比行业中位低 12.0倍;股息率 比行业中位低 0.6个百分点;毛利率 比行业中位低 8.1个百分点;固定资产占比 比行业中位低 22.2个百分点。"]}}