{"F": {"ts_code": "US.FINV", "name": "信也科技", "mkt": "US", "ccy": "美元", "sw1": "信贷", "sw2": "信贷", "sw3": "", "ind": "信贷", "fin_source": "futu", "market": "NYSE", "list_date": null, "is_fin": true, "roles": {"fin": true, "commodity": false, "precious": false, "regulated": false, "hard": false, "growth": false}, "province": null, "main_business": "", "introduction": "", "close": 3.39, "pe_ttm": 3.079, "pb": 0.323, "dv_ttm": 9.09, "total_mv": 80035.866339, "trade_date": "20260904", "years": ["最近年报"], "multi_year": false, "period": "最近年报", "gm_series": [78.4], "rev_series": [19.4], "np_series": [3.6], "roe_series": [16.0], "rev_ttm": 19.4, "np_ttm": 2.8, "ocf_ttm": 0.7, "fcf_ttm": null, "fcf_yield": null, "ocf_yield": 9.3, "gm_median": 78.4, "gm_std": null, "gm_stab": null, "gm_chg_2022": null, "npm_median": 18.8, "roe_median": 16.0, "commodity": false, "hard_ratio": 2.1, "fix_assets": 0.7, "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": 4.3, "debt_ratio": 33.7, "debt_mv": null, "payout": 28.0, "div_years": 1, "rev_cagr3": null, "np_cagr3": null, "rev_yoy": 8.4, "np_yoy": 11.2, "np_vol": null, "loss_years": 0, "far_share": 0.0, "earn_yield": 32.5, "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": -31.1, "ret_20": -30.2, "ret_60": -30.7, "ret_120": -34.3, "ret_250": -53.6, "mdd_250": null, "vol_250": null, "pos_52w": 44.8, "eps": 1.428}, "S": {"duration": 7, "pricing": null, "hard": null, "bondness": 53}, "label": "金融·利差生意", "tags": [], "text": {"像什么": ["信也科技 是信贷。银行赚的是利差,券商保险赚的是资产端与费率,毛利率与固定资产两个轴对它没有意义。", "ROE 最新年报 16.0%,PB 0.32倍,股息率 9.1%,分红率 28%。", "利率上行对银行是净息差扩张(少数受益方向);对保险是资产端浮亏、对券商是交投与融资成本。"], "加息期怎么走": "按笔记:日债/美债收益率上行期,银行股是例外的受益方向;红利型大行按'现金流红利'拿,盯息差而不盯黄金。", "四问": [["当前 FCF 能覆盖多少市值?", "金融业现金流表不适用;用盈利收益率 32.5%(1/PE)与股息率 9.1% 看。"], ["估值里多少来自 5 年后的故事?", "按 PE 3.1 倍 粗算,约 0%(1 − 5/PE)。中等。"]], "价格行为": "近一年 -54%,现价在 52 周高点的 45%;近 20 / 60 / 120 日 -30% / -31% / -34%。", "行业对照": ["同富途行业「信贷」54 家中位:PE 10.3 / 股息率 0.0% / 毛利率 61.1% / 固定资产占比 2% / 分红率 14%。", "信也科技:PE 比行业中位低 7.2倍;股息率 比行业中位高 9.1个百分点;毛利率 比行业中位高 17.3个百分点;固定资产占比 比行业中位低 0.3个百分点。"]}}