{"F": {"ts_code": "HK.09676", "name": "十月稻田", "mkt": "HK", "ccy": "港元", "sw1": "农产品", "sw2": "农产品", "sw3": "", "ind": "农产品", "fin_source": "futu", "market": "主板", "list_date": "20231012", "is_fin": false, "roles": {"fin": false, "commodity": false, "precious": false, "regulated": false, "hard": true, "growth": false}, "province": null, "main_business": "", "introduction": "", "close": 4.645, "pe_ttm": 9.09, "pb": 1.204, "dv_ttm": 7.92, "total_mv": 490860.723375, "trade_date": "20260904", "years": ["最近年报"], "multi_year": false, "period": "最近年报", "gm_series": [19.9], "rev_series": [75.7], "np_series": [4.8], "roe_series": [11.8], "rev_ttm": 75.7, "np_ttm": 5.3, "ocf_ttm": -8.4, "fcf_ttm": null, "fcf_yield": null, "ocf_yield": -17.0, "gm_median": 19.9, "gm_std": null, "gm_stab": null, "gm_chg_2022": null, "npm_median": 6.3, "roe_median": 11.8, "commodity": false, "hard_ratio": 23.0, "fix_assets": 12.5, "goodwill_ratio": null, "pb_calc": null, "capex_dep": null, "interest_debt": null, "debt_ebitda": null, "ebitda": 5.0, "debt_ratio": 27.7, "debt_mv": null, "payout": 72.0, "div_years": 1, "rev_cagr3": null, "np_cagr3": null, "rev_yoy": 23.9, "np_yoy": 119.1, "np_vol": null, "loss_years": 0, "far_share": 45.0, "earn_yield": 11.0, "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": -34.1, "ret_20": 14.4, "ret_60": 1.6, "ret_120": -33.7, "ret_250": -51.3, "mdd_250": null, "vol_250": null, "pos_52w": 49.4, "eps": 0.449}, "S": {"duration": 20, "pricing": 42, "hard": 37, "bondness": 68}, "label": "现金流红利", "tags": ["股息率≥4%"], "text": {"像什么": ["分红率 72%、股息率 7.9%、最新一年营收增速 23.9%、资产负债率 28%:红利底仓,但不靠杠杆。"], "为什么(不)算钱的替代品": "两条都不占:固定资产占比 23%,毛利率最新年报 19.9%。", "加息期怎么走": "船票:加息期底仓。放水信号出现后按 7:3 → 5:5 → 3:7 逐步让位给科技。", "四问": [["当前 FCF 能覆盖多少市值?", "经营现金流/市值 -17.0%(futu 无资本开支,FCF 按经营现金流 × 0.7 近似)。极低或为负。"], ["能否每年提价而不掉量?", "毛利率最新年报 19.9%。不能。"], ["资产重置成本随通胀涨吗?", "固定资产占总资产 23%。有一些。"], ["估值里多少来自 5 年后的故事?", "按 PE 9.1 倍 粗算,约 45%(1 − 5/PE)。中等。"]], "价格行为": "近一年 -51%,现价在 52 周高点的 49%;近 20 / 60 / 120 日 14% / 2% / -34%。", "行业对照": ["同富途行业「农产品」12 家中位:PE 9.1 / 股息率 0.0% / 毛利率 18.3% / 固定资产占比 20% / 分红率 40%。", "十月稻田:PE 与行业中位持平;股息率 比行业中位高 7.9个百分点;毛利率 比行业中位高 1.6个百分点;固定资产占比 比行业中位高 3.4个百分点。"]}}