{"F": {"ts_code": "HK.80883", "name": "中国海洋石油-R", "mkt": "HK", "ccy": "港元", "sw1": "", "sw2": "", "sw3": "", "ind": "", "fin_source": "futu", "market": "主板", "list_date": "20230619", "is_fin": false, "roles": {"fin": false, "commodity": false, "precious": false, "regulated": false, "hard": false, "growth": false}, "province": null, "main_business": "", "introduction": "", "close": 21.44, "pe_ttm": 7.365, "pb": 1.19, "dv_ttm": 5.34, "total_mv": 101904221.341696, "trade_date": "20260904", "years": ["最近年报"], "multi_year": false, "period": "最近年报", "gm_series": [null], "rev_series": [4428.6], "np_series": [1358.4], "roe_series": [15.9], "rev_ttm": 4428.6, "np_ttm": 1587.7, "ocf_ttm": 1128.3, "fcf_ttm": null, "fcf_yield": null, "ocf_yield": 11.1, "gm_median": null, "gm_std": null, "gm_stab": null, "gm_chg_2022": null, "npm_median": 30.7, "roe_median": 15.9, "commodity": false, "hard_ratio": 60.3, "fix_assets": 7135.3, "goodwill_ratio": null, "pb_calc": null, "capex_dep": null, "interest_debt": null, "debt_ebitda": null, "ebitda": 2888.6, "debt_ratio": 26.7, "debt_mv": null, "payout": 39.0, "div_years": 1, "rev_cagr3": null, "np_cagr3": null, "rev_yoy": -1.0, "np_yoy": -7.5, "np_vol": null, "loss_years": 0, "far_share": 32.0, "earn_yield": 13.6, "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": 12.3, "ret_20": 7.4, "ret_60": -3.1, "ret_120": -12.9, "ret_250": 20.7, "mdd_250": null, "vol_250": null, "pos_52w": 78.7, "eps": 2.569}, "S": {"duration": 17, "pricing": 32, "hard": 96, "bondness": 57}, "label": "中性", "tags": ["股息率≥4%"], "text": {"像什么": ["PE 7.4 倍、股息率 5.3%、毛利率最新年报 —、固定资产占比 60%、资产负债率 27%:四轴都不突出。"], "为什么(不)算钱的替代品": "只占硬资产一条(占比 60%),没有定价权:毛利率最新年报 —。通胀来了成本转嫁不出去,利润跟不上通胀。这是陷阱不是保护。", "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 11.1%(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?", "毛利率未披露(公用事业 / 地产 / 综合企业常见)。无法从毛利率判断。"], ["资产重置成本随通胀涨吗?", "固定资产占总资产 60%。涨。"], ["估值里多少来自 5 年后的故事?", "按 PE 7.4 倍 粗算,约 32%(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 79%;近 20 / 60 / 120 日 7% / -3% / -13%。", "行业对照": ["同富途行业「」33 家中位:PE 14.0 / 股息率 1.2% / 毛利率 39.8% / 固定资产占比 8% / 分红率 38%。", "中国海洋石油-R:PE 比行业中位低 6.6倍;股息率 比行业中位高 4.1个百分点;毛利率 ;固定资产占比 比行业中位高 51.9个百分点。"]}}