{"F": {"ts_code": "US.DLNG", "name": "Dynagas LNG Partners LP", "mkt": "US", "ccy": "美元", "sw1": "油气中游", "sw2": "油气中游", "sw3": "", "ind": "油气中游", "fin_source": "futu", "market": "NYSE", "list_date": null, "is_fin": false, "roles": {"fin": false, "commodity": true, "precious": false, "regulated": true, "hard": false, "growth": false}, "province": null, "main_business": "", "introduction": "", "close": 3.66, "pe_ttm": 2.392, "pb": 0.281, "dv_ttm": 5.41, "total_mv": 13328.818542, "trade_date": "20260904", "years": ["最近年报"], "multi_year": false, "period": "最近年报", "gm_series": [53.6], "rev_series": [1.6], "np_series": [0.6], "roe_series": [10.5], "rev_ttm": 1.6, "np_ttm": 0.5, "ocf_ttm": 1.0, "fcf_ttm": null, "fcf_yield": null, "ocf_yield": 74.1, "gm_median": 53.6, "gm_std": null, "gm_stab": null, "gm_chg_2022": null, "npm_median": 39.4, "roe_median": 10.5, "commodity": true, "hard_ratio": 72.0, "fix_assets": 5.9, "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": 1.1, "debt_ratio": 39.8, "debt_mv": null, "payout": 13.0, "div_years": 1, "rev_cagr3": null, "np_cagr3": null, "rev_yoy": 0.1, "np_yoy": 19.5, "np_vol": null, "loss_years": 0, "far_share": 0.0, "earn_yield": 41.8, "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": 0.9, "ret_20": -1.4, "ret_60": -1.9, "ret_120": -0.1, "ret_250": -0.1, "mdd_250": null, "vol_250": null, "pos_52w": 84.4, "eps": 1.38}, "S": {"duration": 6, "pricing": 70, "hard": 100, "bondness": 48}, "label": "中性", "tags": ["商品定价", "股息率≥4%"], "text": {"像什么": ["PE 2.4 倍、股息率 5.4%、毛利率最新年报 53.6%、固定资产占比 72%、资产负债率 40%:四轴都不突出。"], "为什么(不)算钱的替代品": "硬资产占比 72%、毛利率 53.6% 看起来两条都占,但价格受管制(油气中游:电价/通行费/港口费由主管部门或市场化机制定),高毛利来自成本结构不是提价能力。通胀来了它不能提价,利润跟不上通胀,所以不算。", "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 74.1%(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?", "毛利率最新年报 53.6%。能。"], ["资产重置成本随通胀涨吗?", "固定资产占总资产 72%。涨。"], ["估值里多少来自 5 年后的故事?", "按 PE 2.4 倍 粗算,约 0%(1 − 5/PE)。中等。"]], "价格行为": "近一年 -0%,现价在 52 周高点的 84%;近 20 / 60 / 120 日 -1% / -2% / -0%。", "行业对照": ["同富途行业「油气中游」57 家中位:PE 14.0 / 股息率 3.7% / 毛利率 33.4% / 固定资产占比 48% / 分红率 58%。", "Dynagas LNG Partners LP:PE 比行业中位低 11.6倍;股息率 比行业中位高 1.7个百分点;毛利率 比行业中位高 20.2个百分点;固定资产占比 比行业中位高 24.5个百分点。"]}}