{"F": {"ts_code": "HK.01745", "name": "驴迹科技", "mkt": "HK", "ccy": "港元", "sw1": "应用软件", "sw2": "应用软件", "sw3": "", "ind": "应用软件", "fin_source": "futu", "market": "主板", "list_date": "20200117", "is_fin": false, "roles": {"fin": false, "commodity": false, "precious": false, "regulated": false, "hard": false, "growth": true}, "province": null, "main_business": "", "introduction": "", "close": 2.4, "pe_ttm": 1.357, "pb": 0.081, "dv_ttm": 0.0, "total_mv": 12147.8448, "trade_date": "20260904", "years": ["最近年报"], "multi_year": false, "period": "最近年报", "gm_series": [25.3], "rev_series": [6.8], "np_series": [0.7], "roe_series": [5.3], "rev_ttm": 6.8, "np_ttm": 0.9, "ocf_ttm": 1.2, "fcf_ttm": null, "fcf_yield": null, "ocf_yield": 98.5, "gm_median": 25.3, "gm_std": null, "gm_stab": null, "gm_chg_2022": null, "npm_median": 9.5, "roe_median": 5.3, "commodity": false, "hard_ratio": 0.0, "fix_assets": 0.0, "goodwill_ratio": null, "pb_calc": null, "capex_dep": null, "interest_debt": null, "debt_ebitda": null, "ebitda": 1.3, "debt_ratio": 22.4, "debt_mv": null, "payout": 0.0, "div_years": 0, "rev_cagr3": null, "np_cagr3": null, "rev_yoy": 22.3, "np_yoy": -25.1, "np_vol": null, "loss_years": 0, "far_share": 0.0, "earn_yield": 73.7, "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": -52.0, "ret_20": 20.0, "ret_60": -26.2, "ret_120": -60.3, "ret_250": -71.1, "mdd_250": null, "vol_250": null, "pos_52w": 25.1, "eps": 1.283}, "S": {"duration": 3, "pricing": 45, "hard": 0, "bondness": 13}, "label": "中性", "tags": [], "text": {"像什么": ["PE 1.4 倍、股息率 0.0%、毛利率最新年报 25.3%、固定资产占比 0%、资产负债率 22%: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 0%,毛利率最新年报 25.3%。", "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 98.5%(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 25.3%。取决于竞争。"], ["资产重置成本随通胀涨吗?", "固定资产占总资产 0%。没有资产可言。"], ["估值里多少来自 5 年后的故事?", "按 PE 1.4 倍 粗算,约 0%(1 − 5/PE)。中等。"]], "价格行为": "近一年 -71%,现价在 52 周高点的 25%;近 20 / 60 / 120 日 20% / -26% / -60%。", "行业对照": ["同富途行业「应用软件」34 家中位:PE 18.4 / 股息率 0.0% / 毛利率 48.9% / 固定资产占比 1% / 分红率 3%。", "驴迹科技:PE 比行业中位低 17.0倍;股息率 与行业中位持平;毛利率 比行业中位低 23.6个百分点;固定资产占比 比行业中位低 1.4个百分点。"]}}