{"F": {"ts_code": "US.GBX", "name": "格林布赖尔", "mkt": "US", "ccy": "美元", "sw1": "铁路运输", "sw2": "铁路运输", "sw3": "", "ind": "铁路运输", "fin_source": "futu", "market": "NYSE", "list_date": null, "is_fin": false, "roles": {"fin": false, "commodity": false, "precious": false, "regulated": true, "hard": false, "growth": false}, "province": null, "main_business": "", "introduction": "", "close": 43.26, "pe_ttm": 12.798, "pb": 0.85, "dv_ttm": 3.01, "total_mv": 133845.081636, "trade_date": "20260904", "years": ["最近年报"], "multi_year": false, "period": "最近年报", "gm_series": [18.7], "rev_series": [32.4], "np_series": [2.1], "roe_series": [14.0], "rev_ttm": 32.4, "np_ttm": 1.1, "ocf_ttm": 1.1, "fcf_ttm": null, "fcf_yield": null, "ocf_yield": 7.9, "gm_median": 18.7, "gm_std": null, "gm_stab": null, "gm_chg_2022": null, "npm_median": 6.6, "roe_median": 14.0, "commodity": false, "hard_ratio": 34.1, "fix_assets": 14.7, "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": 4.9, "debt_ratio": 60.2, "debt_mv": null, "payout": 39.0, "div_years": 1, "rev_cagr3": null, "np_cagr3": null, "rev_yoy": -8.6, "np_yoy": 23.4, "np_vol": null, "loss_years": 0, "far_share": 61.0, "earn_yield": 7.8, "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": -5.6, "ret_20": -8.4, "ret_60": -7.2, "ret_120": -15.5, "ret_250": -4.3, "mdd_250": null, "vol_250": null, "pos_52w": 74.1, "eps": 6.35}, "S": {"duration": 27, "pricing": 41, "hard": 55, "bondness": 45}, "label": "成长兑现", "tags": [], "text": {"像什么": ["盈利在追估值:最新净利润同比 23%,PE TTM 12.8 倍,历史 PEG(PE ÷ 最新增速)0.55。", "经营现金流 1.1 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": "只占硬资产一条(占比 34%),没有定价权:毛利率最新年报 18.7%。通胀来了成本转嫁不出去,利润跟不上通胀。这是陷阱不是保护。", "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 7.9%(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 18.7%。不能。"], ["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 12.8 倍 粗算,约 61%(1 − 5/PE)。中等。"]], "价格行为": "近一年 -4%,现价在 52 周高点的 74%;近 20 / 60 / 120 日 -8% / -7% / -16%。", "行业对照": ["同富途行业「铁路运输」12 家中位:PE 28.3 / 股息率 0.9% / 毛利率 33.7% / 固定资产占比 36% / 分红率 30%。", "格林布赖尔:PE 比行业中位低 15.5倍;股息率 比行业中位高 2.1个百分点;毛利率 比行业中位低 15.0个百分点;固定资产占比 比行业中位低 2.0个百分点。"]}}