{"F": {"ts_code": "US.IDR", "name": "Idaho Strategic Resources", "mkt": "US", "ccy": "美元", "sw1": "黄金", "sw2": "黄金", "sw3": "", "ind": "黄金", "fin_source": "futu", "market": "AMEX", "list_date": null, "is_fin": false, "roles": {"fin": false, "commodity": true, "precious": true, "regulated": false, "hard": true, "growth": false}, "province": null, "main_business": "", "introduction": "", "close": 31.45, "pe_ttm": 21.541, "pb": 4.13, "dv_ttm": 0.0, "total_mv": 49773.30465, "trade_date": "20260904", "years": ["最近年报"], "multi_year": false, "period": "最近年报", "gm_series": [61.8], "rev_series": [0.4], "np_series": [0.2], "roe_series": [22.9], "rev_ttm": 0.4, "np_ttm": 0.2, "ocf_ttm": 0.3, "fcf_ttm": null, "fcf_yield": null, "ocf_yield": 5.4, "gm_median": 61.8, "gm_std": null, "gm_stab": null, "gm_chg_2022": null, "npm_median": 39.2, "roe_median": 22.9, "commodity": true, "hard_ratio": 23.2, "fix_assets": 0.2, "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": 0.2, "debt_ratio": 4.6, "debt_mv": null, "payout": 0.0, "div_years": 0, "rev_cagr3": null, "np_cagr3": null, "rev_yoy": 64.6, "np_yoy": 90.0, "np_vol": null, "loss_years": 0, "far_share": 77.0, "earn_yield": 4.6, "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": -22.0, "ret_20": -10.8, "ret_60": -0.9, "ret_120": -9.6, "ret_250": 7.8, "mdd_250": null, "vol_250": null, "pos_52w": 57.5, "eps": 1.14}, "S": {"duration": 42, "pricing": 70, "hard": 37, "bondness": 13}, "label": "定价权·品牌", "tags": ["成长兑现", "商品定价"], "text": {"像什么": ["没有硬资产(固定资产占比 23%)但有定价权:毛利率最新年报 61.8%、ROE 最新年报 22.9%。", "经营现金流/市值 5.4%,分红率 0%,分子跟得上通胀。"], "为什么(不)算钱的替代品": "只占定价权一条(毛利率 61.8%),硬资产占比 23%。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。 注意:金矿股不等于黄金,有运营杠杆和自身成本通胀,对冲美元信用直接买黄金 ETF 更纯。", "加息期怎么走": "分子跟得上通胀、久期不长,加息期抗跌;放水期弹性不如科技。属船票一侧的'非债券'部分。", "四问": [["当前 FCF 能覆盖多少市值?", "经营现金流/市值 5.4%(futu 无资本开支,FCF 按经营现金流 × 0.7 近似)。一般。"], ["能否每年提价而不掉量?", "毛利率最新年报 61.8%。能。"], ["资产重置成本随通胀涨吗?", "固定资产占总资产 23%。有一些。"], ["估值里多少来自 5 年后的故事?", "按 PE 21.5 倍 粗算,约 77%(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 8%,现价在 52 周高点的 58%;近 20 / 60 / 120 日 -11% / -1% / -10%。", "行业对照": ["同富途行业「黄金」53 家中位:PE 14.2 / 股息率 0.0% / 毛利率 50.2% / 固定资产占比 55% / 分红率 6%。", "Idaho Strategic Resources:PE 比行业中位高 7.3倍;股息率 与行业中位持平;毛利率 比行业中位高 11.6个百分点;固定资产占比 比行业中位低 32.2个百分点。"]}}