{"F": {"ts_code": "HK.01655", "name": "OKURA HOLDINGS", "mkt": "HK", "ccy": "港元", "sw1": "赌场及博彩", "sw2": "赌场及博彩", "sw3": "", "ind": "赌场及博彩", "fin_source": "futu", "market": "主板", "list_date": "20170515", "is_fin": false, "roles": {"fin": false, "commodity": false, "precious": false, "regulated": false, "hard": false, "growth": false}, "province": null, "main_business": "", "introduction": "", "close": 0.167, "pe_ttm": 1.776, "pb": 0.247, "dv_ttm": 0.0, "total_mv": 12023.992986, "trade_date": "20260904", "years": ["最近年报"], "multi_year": false, "period": "最近年报", "gm_series": [null], "rev_series": [3.5], "np_series": [0.7], "roe_series": [16.6], "rev_ttm": 3.5, "np_ttm": 0.7, "ocf_ttm": 1.1, "fcf_ttm": null, "fcf_yield": null, "ocf_yield": 87.7, "gm_median": null, "gm_std": null, "gm_stab": null, "gm_chg_2022": null, "npm_median": 21.0, "roe_median": 16.6, "commodity": false, "hard_ratio": 41.9, "fix_assets": 4.0, "goodwill_ratio": null, "pb_calc": null, "capex_dep": null, "interest_debt": null, "debt_ebitda": null, "ebitda": 0.8, "debt_ratio": 50.8, "debt_mv": null, "payout": 0.0, "div_years": 0, "rev_cagr3": null, "np_cagr3": null, "rev_yoy": 11.2, "np_yoy": -26.0, "np_vol": null, "loss_years": 0, "far_share": 0.0, "earn_yield": 56.3, "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": -9.2, "ret_20": -1.2, "ret_60": -18.5, "ret_120": -32.9, "ret_250": 11.3, "mdd_250": null, "vol_250": null, "pos_52w": 47.0, "eps": 0.101}, "S": {"duration": 4, "pricing": 32, "hard": 67, "bondness": 13}, "label": "中性", "tags": [], "text": {"像什么": ["PE 1.8 倍、股息率 0.0%、毛利率最新年报 —、固定资产占比 42%、资产负债率 51%:四轴都不突出。"], "为什么(不)算钱的替代品": "只占硬资产一条(占比 42%),没有定价权:毛利率最新年报 —。通胀来了成本转嫁不出去,利润跟不上通胀。这是陷阱不是保护。", "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 87.7%(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?", "毛利率未披露(公用事业 / 地产 / 综合企业常见)。无法从毛利率判断。"], ["资产重置成本随通胀涨吗?", "固定资产占总资产 42%。涨。"], ["估值里多少来自 5 年后的故事?", "按 PE 1.8 倍 粗算,约 0%(1 − 5/PE)。中等。"]], "价格行为": "近一年 11%,现价在 52 周高点的 47%;近 20 / 60 / 120 日 -1% / -18% / -33%。", "行业对照": ["同富途行业「赌场及博彩」16 家中位:PE 9.4 / 股息率 3.7% / 毛利率 46.6% / 固定资产占比 51% / 分红率 45%。", "OKURA HOLDINGS:PE 比行业中位低 7.6倍;股息率 比行业中位低 3.7个百分点;毛利率 ;固定资产占比 比行业中位低 9.3个百分点。"]}}