{"F": {"ts_code": "US.LOOP", "name": "Loop Industries", "mkt": "US", "ccy": "美元", "sw1": "特殊化工用品", "sw2": "特殊化工用品", "sw3": "", "ind": "特殊化工用品", "fin_source": "futu", "market": "NASDAQ", "list_date": null, "is_fin": false, "roles": {"fin": false, "commodity": false, "precious": false, "regulated": false, "hard": true, "growth": false}, "province": null, "main_business": "", "introduction": "", "close": 0.4771, "pe_ttm": -1.835, "pb": -1.923, "dv_ttm": 0.0, "total_mv": 2308.2275004000003, "trade_date": "20260904", "years": ["最近年报"], "multi_year": false, "period": "最近年报", "gm_series": [25.9], "rev_series": [0.0], "np_series": [-0.1], "roe_series": [0.0], "rev_ttm": 0.0, "np_ttm": -0.1, "ocf_ttm": -0.1, "fcf_ttm": null, "fcf_yield": null, "ocf_yield": -35.8, "gm_median": 25.9, "gm_std": null, "gm_stab": null, "gm_chg_2022": null, "npm_median": -2392.8, "roe_median": 0.0, "commodity": false, "hard_ratio": 46.1, "fix_assets": 0.1, "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": -0.1, "debt_ratio": 211.9, "debt_mv": null, "payout": null, "div_years": 0, "rev_cagr3": null, "np_cagr3": null, "rev_yoy": -95.3, "np_yoy": 18.3, "np_vol": null, "loss_years": 1, "far_share": 100, "earn_yield": null, "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": -52.3, "ret_20": -29.8, "ret_60": -52.3, "ret_120": -63.3, "ret_250": -76.8, "mdd_250": null, "vol_250": null, "pos_52w": 22.6, "eps": -0.26}, "S": {"duration": 100, "pricing": 45, "hard": 74, "bondness": 13}, "label": "亏损或困境", "tags": [], "text": {"像什么": ["TTM 归母净利 -0.1 亿;PE 为负,估值指标失真。", "资产负债率 212%,有息负债 —,经营现金流/市值 -35.8%:先看现金流能否覆盖利息,再谈久期。"], "为什么(不)算钱的替代品": "只占硬资产一条(占比 46%),没有定价权:毛利率最新年报 25.9%。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": "利率上行对高杠杆亏损企业是再融资压力,不是估值问题;周期底部的反转看行业价格,不看贴现率。", "四问": [["当前 FCF 能覆盖多少市值?", "经营现金流/市值 -35.8%(futu 无资本开支,FCF 按经营现金流 × 0.7 近似)。极低或为负。"], ["能否每年提价而不掉量?", "毛利率最新年报 25.9%。取决于竞争。"], ["资产重置成本随通胀涨吗?", "固定资产占总资产 46%。涨。"], ["估值里多少来自 5 年后的故事?", "按 PE 为负 粗算,约 100%(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 -77%,现价在 52 周高点的 23%;近 20 / 60 / 120 日 -30% / -52% / -63%。", "行业对照": ["同富途行业「特殊化工用品」62 家中位:PE 28.8 / 股息率 0.7% / 毛利率 29.5% / 固定资产占比 28% / 分红率 32%。", "Loop Industries:PE 比行业中位低 30.6倍;股息率 比行业中位低 0.7个百分点;毛利率 比行业中位低 3.6个百分点;固定资产占比 比行业中位高 18.1个百分点。"]}}