{"F": {"ts_code": "US.ALSN", "name": "艾里逊变速箱", "mkt": "US", "ccy": "美元", "sw1": "汽车零件", "sw2": "汽车零件", "sw3": "", "ind": "汽车零件", "fin_source": "futu", "market": "NYSE", "list_date": null, "is_fin": false, "roles": {"fin": false, "commodity": false, "precious": false, "regulated": false, "hard": true, "growth": false}, "province": null, "main_business": "", "introduction": "", "close": 131.24, "pe_ttm": 20.765, "pb": 5.476, "dv_ttm": 0.85, "total_mv": 1083754.170712, "trade_date": "20260904", "years": ["最近年报"], "multi_year": false, "period": "最近年报", "gm_series": [48.6], "rev_series": [30.1], "np_series": [6.2], "roe_series": [35.4], "rev_ttm": 30.1, "np_ttm": 5.3, "ocf_ttm": 9.4, "fcf_ttm": null, "fcf_yield": null, "ocf_yield": 8.7, "gm_median": 48.6, "gm_std": null, "gm_stab": null, "gm_chg_2022": null, "npm_median": 20.7, "roe_median": 35.4, "commodity": false, "hard_ratio": 17.1, "fix_assets": 9.7, "hard_note": "PP&E 毛额 × 0.5 近似净额", "goodwill_ratio": null, "pb_calc": null, "capex_dep": null, "interest_debt": null, "debt_ebitda": null, "ebitda": 10.2, "debt_ratio": 69.3, "debt_mv": null, "payout": 18.0, "div_years": 1, "rev_cagr3": null, "np_cagr3": null, "rev_yoy": -6.7, "np_yoy": -14.8, "np_vol": null, "loss_years": 0, "far_share": 76.0, "earn_yield": 4.8, "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": 35.0, "ret_20": 10.6, "ret_60": 15.6, "ret_120": 16.3, "ret_250": 47.4, "mdd_250": null, "vol_250": null, "pos_52w": 95.8, "eps": 7.33}, "S": {"duration": 40, "pricing": 56, "hard": 27, "bondness": 24}, "label": "中性", "tags": [], "text": {"像什么": ["PE 20.8 倍、股息率 0.8%、毛利率最新年报 48.6%、固定资产占比 17%、资产负债率 69%:四轴都不突出。"], "为什么(不)算钱的替代品": "只占定价权一条(毛利率 48.6%),硬资产占比 17%。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": "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 8.7%(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 48.6%。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 20.8 倍 粗算,约 76%(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 47%,现价在 52 周高点的 96%;近 20 / 60 / 120 日 11% / 16% / 16%。", "行业对照": ["同富途行业「汽车零件」56 家中位:PE 19.8 / 股息率 0.0% / 毛利率 21.9% / 固定资产占比 20% / 分红率 9%。", "艾里逊变速箱:PE 比行业中位高 1.0倍;股息率 比行业中位高 0.8个百分点;毛利率 比行业中位高 26.7个百分点;固定资产占比 比行业中位低 3.2个百分点。"]}}