{"F": {"ts_code": "HK.09879", "name": "米高集团", "mkt": "HK", "ccy": "港元", "sw1": "化肥及农用化合物", "sw2": "化肥及农用化合物", "sw3": "", "ind": "化肥及农用化合物", "fin_source": "futu", "market": "主板", "list_date": "20240321", "is_fin": false, "roles": {"fin": false, "commodity": false, "precious": false, "regulated": false, "hard": true, "growth": false}, "province": null, "main_business": "", "introduction": "", "close": 9.23, "pe_ttm": 19.849, "pb": 2.438, "dv_ttm": 1.04, "total_mv": 838951.62, "trade_date": "20260904", "years": ["最近年报"], "multi_year": false, "period": "最近年报", "gm_series": [10.7], "rev_series": [70.2], "np_series": [4.3], "roe_series": [13.2], "rev_ttm": 70.2, "np_ttm": 4.2, "ocf_ttm": 2.6, "fcf_ttm": null, "fcf_yield": null, "ocf_yield": 3.0, "gm_median": 10.7, "gm_std": null, "gm_stab": null, "gm_chg_2022": null, "npm_median": 6.1, "roe_median": 13.2, "commodity": false, "hard_ratio": 8.4, "fix_assets": 5.3, "goodwill_ratio": null, "pb_calc": null, "capex_dep": null, "interest_debt": null, "debt_ebitda": null, "ebitda": 5.5, "debt_ratio": 46.3, "debt_mv": null, "payout": 21.0, "div_years": 1, "rev_cagr3": null, "np_cagr3": null, "rev_yoy": 31.8, "np_yoy": 18.0, "np_vol": null, "loss_years": 0, "far_share": 75.0, "earn_yield": 5.0, "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": 16.8, "ret_20": -0.8, "ret_60": 6.5, "ret_120": 20.6, "ret_250": 54.0, "mdd_250": null, "vol_250": null, "pos_52w": 95.4, "eps": 0.465}, "S": {"duration": 39, "pricing": 37, "hard": 13, "bondness": 27}, "label": "中性", "tags": [], "text": {"像什么": ["PE 19.8 倍、股息率 1.0%、毛利率最新年报 10.7%、固定资产占比 8%、资产负债率 46%: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 8%,毛利率最新年报 10.7%。", "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 3.0%(futu 无资本开支,FCF 按经营现金流 × 0.7 近似)。一般。"], ["能否每年提价而不掉量?", "毛利率最新年报 10.7%。不能。"], ["资产重置成本随通胀涨吗?", "固定资产占总资产 8%。没有资产可言。"], ["估值里多少来自 5 年后的故事?", "按 PE 19.8 倍 粗算,约 75%(1 − 5/PE)。>70%,把 5 年后的假设砍一半,这个股票值多少钱?"]], "价格行为": "近一年 54%,现价在 52 周高点的 95%;近 20 / 60 / 120 日 -1% / 6% / 21%。", "行业对照": ["同富途行业「化肥及农用化合物」9 家中位:PE 9.4 / 股息率 1.0% / 毛利率 10.7% / 固定资产占比 45% / 分红率 21%。", "米高集团:PE 比行业中位高 10.4倍;股息率 与行业中位持平;毛利率 与行业中位持平;固定资产占比 比行业中位低 36.2个百分点。"]}}