{"F": {"ts_code": "US.CINT", "name": "CI&T", "mkt": "US", "ccy": "美元", "sw1": "软件基础设施", "sw2": "软件基础设施", "sw3": "", "ind": "软件基础设施", "fin_source": "futu", "market": "NYSE", "list_date": "20211110", "is_fin": false, "roles": {"fin": false, "commodity": false, "precious": false, "regulated": false, "hard": false, "growth": true}, "province": null, "main_business": "", "introduction": "", "close": 3.58, "pe_ttm": 13.259, "pb": 1.411, "dv_ttm": 0.0, "total_mv": 45819.948513999996, "trade_date": "20260904", "years": ["最近年报"], "multi_year": false, "period": "最近年报", "gm_series": [32.0], "rev_series": [4.9], "np_series": [0.4], "roe_series": [13.8], "rev_ttm": 4.9, "np_ttm": 0.4, "ocf_ttm": 0.5, "fcf_ttm": null, "fcf_yield": null, "ocf_yield": 10.9, "gm_median": 32.0, "gm_std": null, "gm_stab": null, "gm_chg_2022": null, "npm_median": 8.3, "roe_median": 13.8, "commodity": false, "hard_ratio": 4.2, "fix_assets": 0.2, "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": 0.9, "debt_ratio": 43.9, "debt_mv": null, "payout": 0.0, "div_years": 0, "rev_cagr3": null, "np_cagr3": null, "rev_yoy": 11.5, "np_yoy": 37.7, "np_vol": null, "loss_years": 0, "far_share": 62.0, "earn_yield": 7.5, "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": -12.0, "ret_20": 0.6, "ret_60": -9.8, "ret_120": -35.1, "ret_250": -30.6, "mdd_250": null, "vol_250": null, "pos_52w": 60.9, "eps": 0.3}, "S": {"duration": 28, "pricing": 48, "hard": 7, "bondness": 13}, "label": "成长兑现", "tags": [], "text": {"像什么": ["盈利在追估值:最新净利润同比 38%,PE TTM 13.3 倍,历史 PEG(PE ÷ 最新增速)0.35。", "经营现金流 0.5 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": "只占定价权一条(毛利率 32.0%),硬资产占比 4%。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": "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 10.9%(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 32.0%。能。"], ["资产重置成本随通胀涨吗?", "固定资产占总资产 4%。没有资产可言。"], ["估值里多少来自 5 年后的故事?", "按 PE 13.3 倍 粗算,约 62%(1 − 5/PE)。中等。"]], "价格行为": "近一年 -31%,现价在 52 周高点的 61%;近 20 / 60 / 120 日 1% / -10% / -35%。", "行业对照": ["同富途行业「软件基础设施」176 家中位:PE 24.0 / 股息率 0.0% / 毛利率 56.4% / 固定资产占比 4% / 分红率 0%。", "CI&T:PE 比行业中位低 10.7倍;股息率 与行业中位持平;毛利率 比行业中位低 24.4个百分点;固定资产占比 比行业中位低 0.2个百分点。"]}}