{"F": {"ts_code": "US.NESR", "name": "National Energy Services Reunited", "mkt": "US", "ccy": "美元", "sw1": "油气设备与服务", "sw2": "油气设备与服务", "sw3": "", "ind": "油气设备与服务", "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": 34.75, "pe_ttm": 37.771, "pb": 3.363, "dv_ttm": 0.0, "total_mv": 350459.84515, "trade_date": "20260904", "years": ["最近年报"], "multi_year": false, "period": "最近年报", "gm_series": [12.4], "rev_series": [13.2], "np_series": [0.5], "roe_series": [5.5], "rev_ttm": 13.2, "np_ttm": 0.9, "ocf_ttm": 3.5, "fcf_ttm": null, "fcf_yield": null, "ocf_yield": 10.0, "gm_median": 12.4, "gm_std": null, "gm_stab": null, "gm_chg_2022": null, "npm_median": 3.9, "roe_median": 5.5, "commodity": false, "hard_ratio": 26.4, "fix_assets": 4.8, "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": 2.3, "debt_ratio": 47.7, "debt_mv": null, "payout": 0.0, "div_years": 0, "rev_cagr3": null, "np_cagr3": null, "rev_yoy": 1.7, "np_yoy": -33.0, "np_vol": null, "loss_years": 0, "far_share": 87.0, "earn_yield": 2.6, "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": 121.9, "ret_20": 19.7, "ret_60": 47.7, "ret_120": 68.6, "ret_250": 262.4, "mdd_250": null, "vol_250": null, "pos_52w": 94.1, "eps": 0.52}, "S": {"duration": 61, "pricing": 38, "hard": 42, "bondness": 13}, "label": "中性", "tags": [], "text": {"像什么": ["PE 37.8 倍、股息率 0.0%、毛利率最新年报 12.4%、固定资产占比 26%、资产负债率 48%:四轴都不突出。"], "为什么(不)算钱的替代品": "两条都不占:固定资产占比 26%,毛利率最新年报 12.4%。", "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 10.0%(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 12.4%。不能。"], ["资产重置成本随通胀涨吗?", "固定资产占总资产 26%。有一些。"], ["估值里多少来自 5 年后的故事?", "按 PE 37.8 倍 粗算,约 87%(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 262%,现价在 52 周高点的 94%;近 20 / 60 / 120 日 20% / 48% / 69%。", "行业对照": ["同富途行业「油气设备与服务」48 家中位:PE 25.5 / 股息率 0.1% / 毛利率 23.0% / 固定资产占比 38% / 分红率 22%。", "National Energy Services Reunited:PE 比行业中位高 12.3倍;股息率 比行业中位低 0.1个百分点;毛利率 比行业中位低 10.6个百分点;固定资产占比 比行业中位低 11.6个百分点。"]}}