{"F": {"ts_code": "US.NKLR", "name": "Terra Innovatum Global", "mkt": "US", "ccy": "美元", "sw1": "受监管电力", "sw2": "受监管电力", "sw3": "", "ind": "受监管电力", "fin_source": "futu", "market": "NASDAQ", "list_date": null, "is_fin": false, "roles": {"fin": false, "commodity": false, "precious": false, "regulated": true, "hard": false, "growth": false}, "province": null, "main_business": "", "introduction": "", "close": 5.27, "pe_ttm": 1.123, "pb": -4.911, "dv_ttm": 0.0, "total_mv": 58233.978515999996, "trade_date": "20260904", "years": ["最近年报"], "multi_year": false, "period": "最近年报", "gm_series": [null], "rev_series": [0.0], "np_series": [5.4], "roe_series": [0.0], "rev_ttm": null, "np_ttm": 5.2, "ocf_ttm": -0.2, "fcf_ttm": null, "fcf_yield": null, "ocf_yield": -3.0, "gm_median": null, "gm_std": null, "gm_stab": null, "gm_chg_2022": null, "npm_median": 0.0, "roe_median": 0.0, "commodity": false, "hard_ratio": null, "fix_assets": null, "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": 5.4, "debt_ratio": 188.2, "debt_mv": null, "payout": 0.0, "div_years": 0, "rev_cagr3": null, "np_cagr3": null, "rev_yoy": 0.0, "np_yoy": 1586935.3, "np_vol": null, "loss_years": 0, "far_share": 0.0, "earn_yield": 89.0, "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": 14.1, "ret_20": -8.3, "ret_60": 6.9, "ret_120": 25.2, "ret_250": -49.2, "mdd_250": null, "vol_250": null, "pos_52w": 24.1, "eps": 4.895}, "S": {"duration": 3, "pricing": 32, "hard": 0, "bondness": 13}, "label": "中性", "tags": [], "text": {"像什么": ["PE 1.1 倍、股息率 0.0%、毛利率最新年报 —、固定资产占比 —、资产负债率 188%: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 —,毛利率最新年报 —。", "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 -3.0%(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?", "毛利率未披露(公用事业 / 地产 / 综合企业常见)。价格受管制,不能。"], ["资产重置成本随通胀涨吗?", "固定资产占总资产 —。没有资产可言。"], ["估值里多少来自 5 年后的故事?", "按 PE 1.1 倍 粗算,约 0%(1 − 5/PE)。中等。"]], "价格行为": "近一年 -49%,现价在 52 周高点的 24%;近 20 / 60 / 120 日 -8% / 7% / 25%。", "行业对照": ["同富途行业「受监管电力」43 家中位:PE 19.0 / 股息率 3.2% / 毛利率 45.0% / 固定资产占比 50% / 分红率 66%。", "Terra Innovatum Global:PE 比行业中位低 17.9倍;股息率 比行业中位低 3.2个百分点;毛利率 ;固定资产占比 。"]}}