{"F": {"ts_code": "HK.02589", "name": "沪上阿姨", "mkt": "HK", "ccy": "港元", "sw1": "非酒精饮料", "sw2": "非酒精饮料", "sw3": "", "ind": "非酒精饮料", "fin_source": "futu", "market": "主板", "list_date": "20250508", "is_fin": false, "roles": {"fin": false, "commodity": false, "precious": false, "regulated": false, "hard": true, "growth": false}, "province": null, "main_business": "", "introduction": "", "close": 81.5, "pe_ttm": 12.018, "pb": 3.454, "dv_ttm": 4.25, "total_mv": 857404.613, "trade_date": "20260904", "years": ["最近年报"], "multi_year": false, "period": "最近年报", "gm_series": [31.4], "rev_series": [49.7], "np_series": [5.6], "roe_series": [32.6], "rev_ttm": 49.7, "np_ttm": 7.1, "ocf_ttm": 9.2, "fcf_ttm": null, "fcf_yield": null, "ocf_yield": 10.8, "gm_median": 31.4, "gm_std": null, "gm_stab": null, "gm_chg_2022": null, "npm_median": 11.2, "roe_median": 32.6, "commodity": false, "hard_ratio": 1.8, "fix_assets": 0.5, "goodwill_ratio": null, "pb_calc": null, "capex_dep": null, "interest_debt": null, "debt_ebitda": null, "ebitda": 7.6, "debt_ratio": 35.4, "debt_mv": null, "payout": 51.0, "div_years": 1, "rev_cagr3": null, "np_cagr3": null, "rev_yoy": 42.1, "np_yoy": 59.3, "np_vol": null, "loss_years": 0, "far_share": 58.0, "earn_yield": 8.3, "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": -0.8, "ret_20": -29.1, "ret_60": -45.7, "ret_120": 12.3, "ret_250": -37.9, "mdd_250": null, "vol_250": null, "pos_52w": 45.7, "eps": 5.276}, "S": {"duration": 26, "pricing": 48, "hard": 3, "bondness": 56}, "label": "成长兑现", "tags": ["现金流红利", "股息率≥4%"], "text": {"像什么": ["盈利在追估值:最新净利润同比 59%,PE TTM 12.0 倍,历史 PEG(PE ÷ 最新增速)0.20。", "经营现金流 9.2 亿(正),没有一致预期数据,风险在增速能否延续。"], "为什么(不)算钱的替代品": "只占定价权一条(毛利率 31.4%),硬资产占比 2%。分子能跟上通胀,但没有重置成本对冲;按'定价权·品牌'看,不按硬资产看。", "加息期怎么走": "估值不靠远期故事,加息期比纯久期抗跌;风险在订单与增速,盯业绩不盯利率。", "四问": [["当前 FCF 能覆盖多少市值?", "经营现金流/市值 10.8%(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 31.4%。能。"], ["资产重置成本随通胀涨吗?", "固定资产占总资产 2%。没有资产可言。"], ["估值里多少来自 5 年后的故事?", "按 PE 12.0 倍 粗算,约 58%(1 − 5/PE)。中等。"]], "价格行为": "近一年 -38%,现价在 52 周高点的 46%;近 20 / 60 / 120 日 -29% / -46% / 12%。", "行业对照": ["同富途行业「非酒精饮料」21 家中位:PE 13.3 / 股息率 2.7% / 毛利率 37.1% / 固定资产占比 22% / 分红率 60%。", "沪上阿姨:PE 比行业中位低 1.3倍;股息率 比行业中位高 1.5个百分点;毛利率 比行业中位低 5.7个百分点;固定资产占比 比行业中位低 20.0个百分点。"]}}