{"F": {"ts_code": "US.DOLE", "name": "都乐食品", "mkt": "US", "ccy": "美元", "sw1": "农产品", "sw2": "农产品", "sw3": "", "ind": "农产品", "fin_source": "futu", "market": "NYSE", "list_date": "20210730", "is_fin": false, "roles": {"fin": false, "commodity": true, "precious": false, "regulated": false, "hard": true, "growth": false}, "province": null, "main_business": "", "introduction": "", "close": 14.01, "pe_ttm": 22.596, "pb": 0.995, "dv_ttm": 2.43, "total_mv": 132336.788607, "trade_date": "20260904", "years": ["最近年报"], "multi_year": false, "period": "最近年报", "gm_series": [7.8], "rev_series": [91.7], "np_series": [0.8], "roe_series": [3.9], "rev_ttm": 91.7, "np_ttm": 0.6, "ocf_ttm": 1.8, "fcf_ttm": null, "fcf_yield": null, "ocf_yield": 13.2, "gm_median": 7.8, "gm_std": null, "gm_stab": null, "gm_chg_2022": null, "npm_median": 0.9, "roe_median": 3.9, "commodity": true, "hard_ratio": 23.4, "fix_assets": 10.3, "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": 3.5, "debt_ratio": 65.8, "debt_mv": null, "payout": 55.0, "div_years": 1, "rev_cagr3": null, "np_cagr3": null, "rev_yoy": 8.2, "np_yoy": -42.8, "np_vol": null, "loss_years": 0, "far_share": 78.0, "earn_yield": 4.4, "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": -5.4, "ret_20": 1.3, "ret_60": -1.6, "ret_120": -1.9, "ret_250": 6.2, "mdd_250": null, "vol_250": null, "pos_52w": 85.6, "eps": 0.53}, "S": {"duration": 43, "pricing": 70, "hard": 37, "bondness": 47}, "label": "中性", "tags": ["商品定价"], "text": {"像什么": ["PE 22.6 倍、股息率 2.4%、毛利率最新年报 7.8%、固定资产占比 23%、资产负债率 66%: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 7.8%),硬资产占比 23%。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 13.2%(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 7.8%。不能。"], ["资产重置成本随通胀涨吗?", "固定资产占总资产 23%。有一些。"], ["估值里多少来自 5 年后的故事?", "按 PE 22.6 倍 粗算,约 78%(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 6%,现价在 52 周高点的 86%;近 20 / 60 / 120 日 1% / -2% / -2%。", "行业对照": ["同富途行业「农产品」25 家中位:PE 23.1 / 股息率 0.0% / 毛利率 7.2% / 固定资产占比 28% / 分红率 61%。", "都乐食品:PE 比行业中位低 0.5倍;股息率 比行业中位高 2.4个百分点;毛利率 比行业中位高 0.6个百分点;固定资产占比 比行业中位低 4.5个百分点。"]}}