{"F": {"ts_code": "US.BYD", "name": "博伊德赌场", "mkt": "US", "ccy": "美元", "sw1": "度假村与赌场", "sw2": "度假村与赌场", "sw3": "", "ind": "度假村与赌场", "fin_source": "futu", "market": "NYSE", "list_date": null, "is_fin": false, "roles": {"fin": false, "commodity": false, "precious": false, "regulated": false, "hard": false, "growth": false}, "province": null, "main_business": "", "introduction": "", "close": 78.02, "pe_ttm": 3.461, "pb": 2.266, "dv_ttm": 0.97, "total_mv": 566857.540028, "trade_date": "20260904", "years": ["最近年报"], "multi_year": false, "period": "最近年报", "gm_series": [49.5], "rev_series": [40.9], "np_series": [18.4], "roe_series": [88.0], "rev_ttm": 40.9, "np_ttm": 18.2, "ocf_ttm": 6.3, "fcf_ttm": null, "fcf_yield": null, "ocf_yield": 11.0, "gm_median": 49.5, "gm_std": null, "gm_stab": null, "gm_chg_2022": null, "npm_median": 44.9, "roe_median": 88.0, "commodity": false, "hard_ratio": 52.1, "fix_assets": 33.8, "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": 27.9, "debt_ratio": 60.3, "debt_mv": null, "payout": 3.0, "div_years": 1, "rev_cagr3": null, "np_cagr3": null, "rev_yoy": 4.1, "np_yoy": 218.2, "np_vol": null, "loss_years": 0, "far_share": 0.0, "earn_yield": 28.9, "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": -8.0, "ret_20": -6.5, "ret_60": -9.9, "ret_120": -2.3, "ret_250": -8.8, "mdd_250": null, "vol_250": null, "pos_52w": 85.4, "eps": 22.56}, "S": {"duration": 8, "pricing": 57, "hard": 83, "bondness": 20}, "label": "中性", "tags": [], "text": {"像什么": ["PE 3.5 倍、股息率 1.0%、毛利率最新年报 49.5%、固定资产占比 52%、资产负债率 60%:四轴都不突出。"], "为什么(不)算钱的替代品": "硬资产占比 52%、毛利率 49.5% 两条都占,但所在行业(度假村与赌场)不在硬资产名单里(医药/科技的固定资产是产能不是储量),按主标签看。", "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 11.0%(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 49.5%。能。"], ["资产重置成本随通胀涨吗?", "固定资产占总资产 52%。涨。"], ["估值里多少来自 5 年后的故事?", "按 PE 3.5 倍 粗算,约 0%(1 − 5/PE)。中等。"]], "价格行为": "近一年 -9%,现价在 52 周高点的 85%;近 20 / 60 / 120 日 -6% / -10% / -2%。", "行业对照": ["同富途行业「度假村与赌场」17 家中位:PE 20.2 / 股息率 0.0% / 毛利率 49.6% / 固定资产占比 49% / 分红率 22%。", "博伊德赌场:PE 比行业中位低 16.7倍;股息率 比行业中位高 1.0个百分点;毛利率 比行业中位低 0.1个百分点;固定资产占比 比行业中位高 3.0个百分点。"]}}