{"F": {"ts_code": "US.HRB", "name": "H&R布洛克税务", "mkt": "US", "ccy": "美元", "sw1": "个性化服务", "sw2": "个性化服务", "sw3": "", "ind": "个性化服务", "fin_source": "futu", "market": "NYSE", "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": 49.06, "pe_ttm": 8.667, "pb": 51.479, "dv_ttm": 3.42, "total_mv": 604742.613332, "trade_date": "20260904", "years": ["最近年报"], "multi_year": false, "period": "最近年报", "gm_series": [44.3], "rev_series": [39.5], "np_series": [7.3], "roe_series": [707.3], "rev_ttm": 39.5, "np_ttm": 7.3, "ocf_ttm": 8.4, "fcf_ttm": null, "fcf_yield": null, "ocf_yield": 13.9, "gm_median": 44.3, "gm_std": null, "gm_stab": null, "gm_chg_2022": null, "npm_median": 18.6, "roe_median": 707.3, "commodity": false, "hard_ratio": 23.7, "fix_assets": 7.7, "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": 10.6, "debt_ratio": 96.4, "debt_mv": null, "payout": 30.0, "div_years": 1, "rev_cagr3": null, "np_cagr3": null, "rev_yoy": 4.9, "np_yoy": 21.1, "np_vol": null, "loss_years": 0, "far_share": 42.0, "earn_yield": 11.5, "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": 16.4, "ret_20": 7.2, "ret_60": 33.0, "ret_120": 63.5, "ret_250": -1.6, "mdd_250": null, "vol_250": null, "pos_52w": 84.4, "eps": 5.66}, "S": {"duration": 19, "pricing": 54, "hard": 38, "bondness": 44}, "label": "中性", "tags": [], "text": {"像什么": ["PE 8.7 倍、股息率 3.4%、毛利率最新年报 44.3%、固定资产占比 24%、资产负债率 96%: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 44.3%),硬资产占比 24%。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 13.9%(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 44.3%。能。"], ["资产重置成本随通胀涨吗?", "固定资产占总资产 24%。有一些。"], ["估值里多少来自 5 年后的故事?", "按 PE 8.7 倍 粗算,约 42%(1 − 5/PE)。中等。"]], "价格行为": "近一年 -2%,现价在 52 周高点的 84%;近 20 / 60 / 120 日 7% / 33% / 64%。", "行业对照": ["同富途行业「个性化服务」13 家中位:PE 15.0 / 股息率 0.0% / 毛利率 29.0% / 固定资产占比 19% / 分红率 0%。", "H&R布洛克税务:PE 比行业中位低 6.3倍;股息率 比行业中位高 3.4个百分点;毛利率 比行业中位高 15.3个百分点;固定资产占比 比行业中位高 4.5个百分点。"]}}