{"F": {"ts_code": "US.CHRW", "name": "罗宾逊物流", "mkt": "US", "ccy": "美元", "sw1": "综合货运与物流", "sw2": "综合货运与物流", "sw3": "", "ind": "综合货运与物流", "fin_source": "futu", "market": "NASDAQ", "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": 147.64, "pe_ttm": 28.175, "pb": 10.598, "dv_ttm": 1.7, "total_mv": 1725191.973112, "trade_date": "20260904", "years": ["最近年报"], "multi_year": false, "period": "最近年报", "gm_series": [8.4], "rev_series": [162.3], "np_series": [5.9], "roe_series": [32.9], "rev_ttm": 162.3, "np_ttm": 6.3, "ocf_ttm": 6.9, "fcf_ttm": null, "fcf_yield": null, "ocf_yield": 4.0, "gm_median": 8.4, "gm_std": null, "gm_stab": null, "gm_chg_2022": null, "npm_median": 3.6, "roe_median": 32.9, "commodity": false, "hard_ratio": 6.7, "fix_assets": 3.4, "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": 9.0, "debt_ratio": 63.5, "debt_mv": null, "payout": 48.0, "div_years": 1, "rev_cagr3": null, "np_cagr3": null, "rev_yoy": -8.4, "np_yoy": 26.1, "np_vol": null, "loss_years": 0, "far_share": 82.0, "earn_yield": 3.5, "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": -7.1, "ret_20": -0.7, "ret_60": -19.8, "ret_120": -12.7, "ret_250": 19.1, "mdd_250": null, "vol_250": null, "pos_52w": 70.5, "eps": 4.83}, "S": {"duration": 51, "pricing": 36, "hard": 11, "bondness": 40}, "label": "成长兑现", "tags": [], "text": {"像什么": ["盈利在追估值:最新净利润同比 26%,PE TTM 28.2 倍,历史 PEG(PE ÷ 最新增速)1.08。", "经营现金流 6.9 亿(正),没有一致预期数据,风险在增速能否延续。"], "为什么(不)算钱的替代品": "两条都不占:固定资产占比 7%,毛利率最新年报 8.4%。", "加息期怎么走": "估值不靠远期故事,加息期比纯久期抗跌;风险在订单与增速,盯业绩不盯利率。", "四问": [["当前 FCF 能覆盖多少市值?", "经营现金流/市值 4.0%(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 8.4%。不能。"], ["资产重置成本随通胀涨吗?", "固定资产占总资产 7%。没有资产可言。"], ["估值里多少来自 5 年后的故事?", "按 PE 28.2 倍 粗算,约 82%(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 19%,现价在 52 周高点的 70%;近 20 / 60 / 120 日 -1% / -20% / -13%。", "行业对照": ["同富途行业「综合货运与物流」32 家中位:PE 23.3 / 股息率 0.0% / 毛利率 12.4% / 固定资产占比 17% / 分红率 27%。", "罗宾逊物流:PE 比行业中位高 4.9倍;股息率 比行业中位高 1.7个百分点;毛利率 比行业中位低 4.0个百分点;固定资产占比 比行业中位低 9.9个百分点。"]}}