{"F": {"ts_code": "US.EYE", "name": "National Vision", "mkt": "US", "ccy": "美元", "sw1": "专业零售", "sw2": "专业零售", "sw3": "", "ind": "专业零售", "fin_source": "futu", "market": "NASDAQ", "list_date": "20171026", "is_fin": false, "roles": {"fin": false, "commodity": false, "precious": false, "regulated": false, "hard": false, "growth": false}, "province": null, "main_business": "", "introduction": "", "close": 16.74, "pe_ttm": 27.0, "pb": 1.475, "dv_ttm": 0.0, "total_mv": 132362.029962, "trade_date": "20260904", "years": ["最近年报"], "multi_year": false, "period": "最近年报", "gm_series": [58.8], "rev_series": [19.9], "np_series": [0.3], "roe_series": [3.5], "rev_ttm": 19.9, "np_ttm": 0.5, "ocf_ttm": 1.3, "fcf_ttm": null, "fcf_yield": null, "ocf_yield": 9.8, "gm_median": 58.8, "gm_std": null, "gm_stab": null, "gm_chg_2022": null, "npm_median": 1.5, "roe_median": 3.5, "commodity": false, "hard_ratio": 34.3, "fix_assets": 6.8, "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": 1.6, "debt_ratio": 56.2, "debt_mv": null, "payout": 0.0, "div_years": 0, "rev_cagr3": null, "np_cagr3": null, "rev_yoy": 9.0, "np_yoy": 203.9, "np_vol": null, "loss_years": 0, "far_share": 81.0, "earn_yield": 3.7, "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": -35.2, "ret_20": -25.8, "ret_60": -4.8, "ret_120": -37.9, "ret_250": -27.5, "mdd_250": null, "vol_250": null, "pos_52w": 55.8, "eps": 0.37}, "S": {"duration": 49, "pricing": 61, "hard": 55, "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 204%,PE TTM 27.0 倍,历史 PEG(PE ÷ 最新增速)0.13。", "经营现金流 1.3 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": "硬资产占比 34%、毛利率 58.8% 两条都占,但所在行业(专业零售)不在硬资产名单里(医药/科技的固定资产是产能不是储量),按主标签看。", "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 9.8%(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 58.8%。能。"], ["资产重置成本随通胀涨吗?", "固定资产占总资产 34%。涨。"], ["估值里多少来自 5 年后的故事?", "按 PE 27.0 倍 粗算,约 81%(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 -28%,现价在 52 周高点的 56%;近 20 / 60 / 120 日 -26% / -5% / -38%。", "行业对照": ["同富途行业「专业零售」45 家中位:PE 17.8 / 股息率 0.0% / 毛利率 35.1% / 固定资产占比 33% / 分红率 0%。", "National Vision:PE 比行业中位高 9.2倍;股息率 与行业中位持平;毛利率 比行业中位高 23.7个百分点;固定资产占比 比行业中位高 1.7个百分点。"]}}