{"F": {"ts_code": "US.EMBJ", "name": "巴西航空工业", "mkt": "US", "ccy": "美元", "sw1": "航空航天与国防", "sw2": "航空航天与国防", "sw3": "", "ind": "航空航天与国防", "fin_source": "futu", "market": "NYSE", "list_date": null, "is_fin": false, "roles": {"fin": false, "commodity": false, "precious": false, "regulated": false, "hard": false, "growth": true}, "province": null, "main_business": "", "introduction": "", "close": 73.81, "pe_ttm": 29.931, "pb": 3.797, "dv_ttm": 1.06, "total_mv": 1313509.732535, "trade_date": "20260904", "years": ["最近年报"], "multi_year": false, "period": "最近年报", "gm_series": [17.5], "rev_series": [75.8], "np_series": [3.6], "roe_series": [10.8], "rev_ttm": 75.8, "np_ttm": 4.5, "ocf_ttm": 11.9, "fcf_ttm": null, "fcf_yield": null, "ocf_yield": 9.1, "gm_median": 17.5, "gm_std": null, "gm_stab": null, "gm_chg_2022": null, "npm_median": 4.7, "roe_median": 10.8, "commodity": false, "hard_ratio": 14.9, "fix_assets": 18.4, "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": 7.2, "debt_ratio": 70.5, "debt_mv": null, "payout": 32.0, "div_years": 1, "rev_cagr3": null, "np_cagr3": null, "rev_yoy": 18.5, "np_yoy": 1.2, "np_vol": null, "loss_years": 0, "far_share": 83.0, "earn_yield": 3.3, "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": 15.1, "ret_20": 1.1, "ret_60": 37.6, "ret_120": 25.6, "ret_250": 23.9, "mdd_250": null, "vol_250": null, "pos_52w": 91.7, "eps": 1.92}, "S": {"duration": 53, "pricing": 41, "hard": 24, "bondness": 31}, "label": "中性", "tags": [], "text": {"像什么": ["PE 29.9 倍、股息率 1.1%、毛利率最新年报 17.5%、固定资产占比 15%、资产负债率 70%:四轴都不突出。"], "为什么(不)算钱的替代品": "两条都不占:固定资产占比 15%,毛利率最新年报 17.5%。", "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 9.1%(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 17.5%。不能。"], ["资产重置成本随通胀涨吗?", "固定资产占总资产 15%。没有资产可言。"], ["估值里多少来自 5 年后的故事?", "按 PE 29.9 倍 粗算,约 83%(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 24%,现价在 52 周高点的 92%;近 20 / 60 / 120 日 1% / 38% / 26%。", "行业对照": ["同富途行业「航空航天与国防」93 家中位:PE 35.4 / 股息率 0.0% / 毛利率 26.2% / 固定资产占比 13% / 分红率 4%。", "巴西航空工业:PE 比行业中位低 5.5倍;股息率 比行业中位高 1.1个百分点;毛利率 比行业中位低 8.7个百分点;固定资产占比 比行业中位高 2.2个百分点。"]}}