{"F": {"ts_code": "HK.01765", "name": "希教国际控股", "mkt": "HK", "ccy": "港元", "sw1": "教育", "sw2": "教育", "sw3": "", "ind": "教育", "fin_source": "futu", "market": "主板", "list_date": "20180803", "is_fin": false, "roles": {"fin": false, "commodity": false, "precious": false, "regulated": false, "hard": false, "growth": true}, "province": null, "main_business": "", "introduction": "", "close": 0.145, "pe_ttm": 1.593, "pb": 0.107, "dv_ttm": 0.0, "total_mv": 125772.07402999999, "trade_date": "20260904", "years": ["最近年报"], "multi_year": false, "period": "最近年报", "gm_series": [42.1], "rev_series": [43.3], "np_series": [4.2], "roe_series": [4.1], "rev_ttm": 43.3, "np_ttm": 8.0, "ocf_ttm": 15.4, "fcf_ttm": null, "fcf_yield": null, "ocf_yield": 122.2, "gm_median": 42.1, "gm_std": null, "gm_stab": null, "gm_chg_2022": null, "npm_median": 9.8, "roe_median": 4.1, "commodity": false, "hard_ratio": 49.8, "fix_assets": 120.3, "goodwill_ratio": null, "pb_calc": null, "capex_dep": null, "interest_debt": null, "debt_ebitda": null, "ebitda": 8.1, "debt_ratio": 56.4, "debt_mv": null, "payout": 0.0, "div_years": 0, "rev_cagr3": null, "np_cagr3": null, "rev_yoy": 5.4, "np_yoy": -37.4, "np_vol": null, "loss_years": 0, "far_share": 0.0, "earn_yield": 62.8, "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": -20.8, "ret_20": 10.7, "ret_60": 5.8, "ret_120": -7.6, "ret_250": -27.1, "mdd_250": null, "vol_250": null, "pos_52w": 55.8, "eps": 0.049}, "S": {"duration": 4, "pricing": 53, "hard": 80, "bondness": 13}, "label": "中性", "tags": [], "text": {"像什么": ["PE 1.6 倍、股息率 0.0%、毛利率最新年报 42.1%、固定资产占比 50%、资产负债率 56%:四轴都不突出。"], "为什么(不)算钱的替代品": "硬资产占比 50%、毛利率 42.1% 两条都占,但所在行业(教育)不在硬资产名单里(医药/科技的固定资产是产能不是储量),按主标签看。", "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 122.2%(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 42.1%。能。"], ["资产重置成本随通胀涨吗?", "固定资产占总资产 50%。涨。"], ["估值里多少来自 5 年后的故事?", "按 PE 1.6 倍 粗算,约 0%(1 − 5/PE)。中等。"]], "价格行为": "近一年 -27%,现价在 52 周高点的 56%;近 20 / 60 / 120 日 11% / 6% / -8%。", "行业对照": ["同富途行业「教育」39 家中位:PE 3.2 / 股息率 0.0% / 毛利率 45.3% / 固定资产占比 37% / 分红率 0%。", "希教国际控股:PE 比行业中位低 1.6倍;股息率 与行业中位持平;毛利率 比行业中位低 3.2个百分点;固定资产占比 比行业中位高 12.8个百分点。"]}}