{"F": {"ts_code": "HK.01977", "name": "安乐工程", "mkt": "HK", "ccy": "港元", "sw1": "楼宇建造", "sw2": "楼宇建造", "sw3": "", "ind": "楼宇建造", "fin_source": "futu", "market": "主板", "list_date": "20190712", "is_fin": false, "roles": {"fin": false, "commodity": false, "precious": false, "regulated": false, "hard": false, "growth": false}, "province": null, "main_business": "", "introduction": "", "close": 0.995, "pe_ttm": 5.852, "pb": 0.567, "dv_ttm": 5.53, "total_mv": 139300.0, "trade_date": "20260904", "years": ["最近年报"], "multi_year": false, "period": "最近年报", "gm_series": [16.4], "rev_series": [60.9], "np_series": [1.6], "roe_series": [7.4], "rev_ttm": 60.9, "np_ttm": 2.4, "ocf_ttm": 1.5, "fcf_ttm": null, "fcf_yield": null, "ocf_yield": 10.5, "gm_median": 16.4, "gm_std": null, "gm_stab": null, "gm_chg_2022": null, "npm_median": 2.7, "roe_median": 7.4, "commodity": false, "hard_ratio": 17.2, "fix_assets": 8.9, "goodwill_ratio": null, "pb_calc": null, "capex_dep": null, "interest_debt": null, "debt_ebitda": null, "ebitda": 2.5, "debt_ratio": 55.1, "debt_mv": null, "payout": 32.0, "div_years": 1, "rev_cagr3": null, "np_cagr3": null, "rev_yoy": -5.6, "np_yoy": 21.5, "np_vol": null, "loss_years": 0, "far_share": 15.0, "earn_yield": 17.1, "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": 11.7, "ret_20": 7.0, "ret_60": 1.5, "ret_120": -5.3, "ret_250": 20.6, "mdd_250": null, "vol_250": null, "pos_52w": 91.3, "eps": 0.119}, "S": {"duration": 14, "pricing": 40, "hard": 28, "bondness": 54}, "label": "中性", "tags": ["股息率≥4%"], "text": {"像什么": ["PE 5.9 倍、股息率 5.5%、毛利率最新年报 16.4%、固定资产占比 17%、资产负债率 55%: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 17%,毛利率最新年报 16.4%。", "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 10.5%(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 16.4%。不能。"], ["资产重置成本随通胀涨吗?", "固定资产占总资产 17%。有一些。"], ["估值里多少来自 5 年后的故事?", "按 PE 5.9 倍 粗算,约 15%(1 − 5/PE)。<40%,估值靠当期。"]], "价格行为": "近一年 21%,现价在 52 周高点的 91%;近 20 / 60 / 120 日 7% / 2% / -5%。", "行业对照": ["同富途行业「楼宇建造」100 家中位:PE 13.2 / 股息率 0.0% / 毛利率 8.1% / 固定资产占比 5% / 分红率 0%。", "安乐工程:PE 比行业中位低 7.3倍;股息率 比行业中位高 5.5个百分点;毛利率 比行业中位高 8.3个百分点;固定资产占比 比行业中位高 12.6个百分点。"]}}