{"F": {"ts_code": "US.GIII", "name": "G-III服装集团", "mkt": "US", "ccy": "美元", "sw1": "服装制造", "sw2": "服装制造", "sw3": "", "ind": "服装制造", "fin_source": "futu", "market": "NASDAQ", "list_date": null, "is_fin": false, "roles": {"fin": false, "commodity": false, "precious": false, "regulated": false, "hard": false, "growth": false}, "province": null, "main_business": "", "introduction": "", "close": 27.74, "pe_ttm": 9.125, "pb": 0.643, "dv_ttm": 1.08, "total_mv": 117036.649502, "trade_date": "20260904", "years": ["最近年报"], "multi_year": false, "period": "最近年报", "gm_series": [39.4], "rev_series": [29.6], "np_series": [0.7], "roe_series": [3.9], "rev_ttm": 29.6, "np_ttm": 1.4, "ocf_ttm": 1.3, "fcf_ttm": null, "fcf_yield": null, "ocf_yield": 11.1, "gm_median": 39.4, "gm_std": null, "gm_stab": null, "gm_chg_2022": null, "npm_median": 2.3, "roe_median": 3.9, "commodity": false, "hard_ratio": 11.5, "fix_assets": 2.9, "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": 1.4, "debt_ratio": 32.6, "debt_mv": null, "payout": 10.0, "div_years": 1, "rev_cagr3": null, "np_cagr3": null, "rev_yoy": -7.0, "np_yoy": -65.2, "np_vol": null, "loss_years": 0, "far_share": 45.0, "earn_yield": 11.0, "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": -3.6, "ret_20": -21.8, "ret_60": -18.3, "ret_120": 8.5, "ret_250": 3.4, "mdd_250": null, "vol_250": null, "pos_52w": 73.9, "eps": 1.51}, "S": {"duration": 20, "pricing": 52, "hard": 18, "bondness": 23}, "label": "中性", "tags": [], "text": {"像什么": ["PE 9.1 倍、股息率 1.1%、毛利率最新年报 39.4%、固定资产占比 12%、资产负债率 33%: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 39.4%),硬资产占比 12%。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 11.1%(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 39.4%。能。"], ["资产重置成本随通胀涨吗?", "固定资产占总资产 12%。没有资产可言。"], ["估值里多少来自 5 年后的故事?", "按 PE 9.1 倍 粗算,约 45%(1 − 5/PE)。中等。"]], "价格行为": "近一年 3%,现价在 52 周高点的 74%;近 20 / 60 / 120 日 -22% / -18% / 8%。", "行业对照": ["同富途行业「服装制造」24 家中位:PE 19.3 / 股息率 0.5% / 毛利率 47.6% / 固定资产占比 20% / 分红率 27%。", "G-III服装集团:PE 比行业中位低 10.2倍;股息率 比行业中位高 0.6个百分点;毛利率 比行业中位低 8.2个百分点;固定资产占比 比行业中位低 8.6个百分点。"]}}