{"F": {"ts_code": "US.KBSX", "name": "FST Corp", "mkt": "US", "ccy": "美元", "sw1": "休闲", "sw2": "休闲", "sw3": "", "ind": "休闲", "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": 0.96, "pe_ttm": 8.0, "pb": 2.719, "dv_ttm": 0.0, "total_mv": 4297.536288, "trade_date": "20260904", "years": ["最近年报"], "multi_year": false, "period": "最近年报", "gm_series": [43.0], "rev_series": [0.5], "np_series": [-0.0], "roe_series": [-7.8], "rev_ttm": 0.5, "np_ttm": 0.1, "ocf_ttm": 0.0, "fcf_ttm": null, "fcf_yield": null, "ocf_yield": 10.4, "gm_median": 43.0, "gm_std": null, "gm_stab": null, "gm_chg_2022": null, "npm_median": -3.1, "roe_median": -7.8, "commodity": false, "hard_ratio": 36.9, "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": 0.0, "debt_ratio": 74.5, "debt_mv": null, "payout": 0.0, "div_years": 0, "rev_cagr3": null, "np_cagr3": null, "rev_yoy": 31.4, "np_yoy": 53.5, "np_vol": null, "loss_years": 0, "far_share": 38.0, "earn_yield": 12.5, "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": -31.4, "ret_20": 2.1, "ret_60": -29.9, "ret_120": -26.4, "ret_250": -40.7, "mdd_250": null, "vol_250": null, "pos_52w": 54.2, "eps": -0.034}, "S": {"duration": 18, "pricing": 54, "hard": 59, "bondness": 13}, "label": "中性", "tags": [], "text": {"像什么": ["PE 8.0 倍、股息率 0.0%、毛利率最新年报 43.0%、固定资产占比 37%、资产负债率 74%:四轴都不突出。"], "为什么(不)算钱的替代品": "硬资产占比 37%、毛利率 43.0% 两条都占,但所在行业(休闲)不在硬资产名单里(医药/科技的固定资产是产能不是储量),按主标签看。", "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 10.4%(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 43.0%。能。"], ["资产重置成本随通胀涨吗?", "固定资产占总资产 37%。涨。"], ["估值里多少来自 5 年后的故事?", "按 PE 8.0 倍 粗算,约 38%(1 − 5/PE)。<40%,估值靠当期。"]], "价格行为": "近一年 -41%,现价在 52 周高点的 54%;近 20 / 60 / 120 日 2% / -30% / -26%。", "行业对照": ["同富途行业「休闲」30 家中位:PE 17.4 / 股息率 0.0% / 毛利率 47.7% / 固定资产占比 17% / 分红率 0%。", "FST Corp:PE 比行业中位低 9.4倍;股息率 与行业中位持平;毛利率 比行业中位低 4.7个百分点;固定资产占比 比行业中位高 20.2个百分点。"]}}